Document:

exv4w36

Exhibit 4.36

 

ATS MEDICAL, INC.

TO

[                    ], TRUSTEE

 

SENIOR DEBT SECURITIES

INDENTURE

 

DATED AS OF                     

 

 

 

TABLE OF CONTENTS

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

	 	 	 	 	 
	SECTION 101. Definitions
	 	 	1	 
	SECTION 102. Compliance Certificates and Opinions
	 	 	7	 
	SECTION 103. Form of Documents Delivered to Trustee
	 	 	8	 
	SECTION 104. Acts of Holders
	 	 	9	 
	SECTION 105. Notices, Etc. to Trustee and Company
	 	 	10	 
	SECTION 106. Notice to Holders of Securities; Waiver
	 	 	11	 
	SECTION 107. Conflict with Trust Indenture Act
	 	 	11	 
	SECTION 108. Effect of Headings and Table of Contents
	 	 	12	 
	SECTION 109. Successors and Assigns
	 	 	12	 
	SECTION 110. Separability Clause
	 	 	12	 
	SECTION 111. Benefits of Indenture
	 	 	12	 
	SECTION 112. Governing Law
	 	 	12	 
	SECTION 113. Legal Holidays
	 	 	12	 
	 
	 	 	 	 
	ARTICLE TWO
	 	 	 	 
	 
	 	 	 	 
	SECURITY FORMS
	 	 	 	 
	 
	 	 	 	 
	SECTION 201. Forms Generally
	 	 	13	 
	SECTION 202. Form of Trustee’s Certificate of Authentication
	 	 	13	 
	 
	 	 	 	 
	ARTICLE THREE
	 	 	 	 
	 
	 	 	 	 
	THE SECURITIES
	 	 	 	 
	SECTION 301. Amount Unlimited; Issuable in Series
	 	 	14	 
	SECTION 302. Denominations
	 	 	17	 
	SECTION 303. Execution, Authentication, Delivery and Dating
	 	 	17	 
	SECTION 304. Temporary Securities
	 	 	19	 
	SECTION 305. Registration, Registration of Transfer and Exchange
	 	 	20	 
	SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities
	 	 	21	 
	SECTION 307. Payment of Interest; Interest Rights Preserved
	 	 	22	 
	SECTION 308. Persons Deemed Owners
	 	 	23	 
	SECTION 309. Cancellation by Security Registrar
	 	 	23	 
	SECTION 310. Computation of Interest
	 	 	24	 
	SECTION 311. Payment to Be in Proper Currency
	 	 	24	 

i

 

	 	 	 	 	 
	ARTICLE FOUR
	 	 	 	 
	 
	 	 	 	 
	REDEMPTION OF SECURITIES
	 	 	 	 
	 
	 	 	 	 
	SECTION 401. Applicability of Article
	 	 	24	 
	SECTION 402. Election to Redeem; Notice to Trustee
	 	 	24	 
	SECTION 403. Selection of Securities to Be Redeemed
	 	 	25	 
	SECTION 404. Notice of Redemption
	 	 	25	 
	SECTION 405. Securities Payable on Redemption Date
	 	 	26	 
	SECTION 406. Securities Redeemed in Part
	 	 	27	 
	 
	 	 	 	 
	ARTICLE FIVE
	 	 	 	 
	 
	 	 	 	 
	SINKING FUNDS
	 	 	 	 
	 
	 	 	 	 
	SECTION 501. Applicability of Article
	 	 	27	 
	SECTION 502. Satisfaction of Sinking Fund Payments with Securities
	 	 	27	 
	SECTION 503. Redemption of Securities for Sinking Fund
	 	 	28	 
	 
	 	 	 	 
	ARTICLE SIX
	 	 	 	 
	 
	 	 	 	 
	COVENANTS
	 	 	 	 
	 
	 	 	 	 
	SECTION 601. Payment of Principal, Premium and Interest
	 	 	28	 
	SECTION 602. Maintenance of Office or Agency
	 	 	29	 
	SECTION 603. Money for Securities Payments to Be Held in Trust
	 	 	29	 
	SECTION 604. Corporate Existence
	 	 	31	 
	SECTION 605. Maintenance of Properties
	 	 	31	 
	SECTION 606. Annual Officer’s Certificate as to Compliance
	 	 	31	 
	SECTION 607. Waiver of Certain Covenants
	 	 	31	 
	 
	 	 	 	 
	ARTICLE SEVEN SATISFACTION AND DISCHARGE
	 	 	 	 
	 
	 	 	 	 
	SECTION 701. Satisfaction and Discharge of Securities
	 	 	32	 
	SECTION 702. Satisfaction and Discharge of Indenture
	 	 	34	 
	SECTION 703. Application of Trust Money
	 	 	35	 
	 
	 	 	 	 
	ARTICLE EIGHT
	 	 	 	 
	 
	 	 	 	 
	EVENTS OF DEFAULT; REMEDIES
	 	 	 	 
	 
	 	 	 	 
	SECTION 801. Events of Default
	 	 	35	 
	SECTION 802. Acceleration of Maturity; Rescission and Annulment
	 	 	36	 
	SECTION 803. Collection of Indebtedness and Suits for Enforcement by Trustee
	 	 	37	 
	SECTION 804. Trustee May File Proofs of Claim
	 	 	38	 
	SECTION 805. Trustee May Enforce Claims Without Possession of Securities
	 	 	38	 
	SECTION 806. Application of Money Collected
	 	 	39	 
	SECTION 807. Limitation on Suits
	 	 	39	 

ii

 

	 	 	 	 	 
	SECTION 808. Unconditional Right of Holders to Receive Principal, Premium and Interest
	 	 	40	 
	SECTION 809. Restoration of Rights and Remedies
	 	 	40	 
	SECTION 810. Rights and Remedies Cumulative
	 	 	40	 
	SECTION 811. Delay or Omission Not Waiver
	 	 	40	 
	SECTION 812. Control by Holders of Securities
	 	 	41	 
	SECTION 813. Waiver of Past Defaults
	 	 	41	 
	SECTION 814. Undertaking for Costs
	 	 	41	 
	SECTION 815. Waiver of Stay or Extension Laws
	 	 	42	 
	 
	 	 	 	 
	ARTICLE NINE
	 	 	 	 
	 
	 	 	 	 
	THE TRUSTEE
	 	 	 	 
	 
	 	 	 	 
	SECTION 901. Certain Duties and Responsibilities
	 	 	42	 
	SECTION 902. Notice of Defaults
	 	 	43	 
	SECTION 903. Certain Rights of Trustee
	 	 	43	 
	SECTION 904. Not Responsible for Recitals or Issuance of Securities
	 	 	45	 
	SECTION 905. May Hold Securities
	 	 	45	 
	SECTION 906. Money Held in Trust
	 	 	45	 
	SECTION 907. Compensation and Reimbursement
	 	 	45	 
	SECTION 908. Disqualification; Conflicting Interests
	 	 	46	 
	SECTION 909. Corporate Trustee Required; Eligibility
	 	 	46	 
	SECTION 910. Resignation and Removal; Appointment of Successor
	 	 	47	 
	SECTION 911. Acceptance of Appointment by Successor
	 	 	48	 
	SECTION 912. Merger, Conversion, Consolidation or Succession to Business
	 	 	49	 
	SECTION 913. Preferential Collection of Claims Against Company
	 	 	50	 
	SECTION 914. Co-trustees and Separate Trustees
	 	 	50	 
	SECTION 915. Appointment of Authenticating Agent
	 	 	51	 
	 
	 	 	 	 
	ARTICLE TEN
	 	 	 	 
	 
	 	 	 	 
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	 	 	 	 
	 
	 	 	 	 
	SECTION 1001. Lists of Holders
	 	 	53	 
	SECTION 1002. Reports by Trustee and Company
	 	 	53	 
	 
	 	 	 	 
	ARTICLE ELEVEN
	 	 	 	 
	 
	 	 	 	 
	CONSOLIDATION, MERGER, CONVEYANCE OR OTHER TRANSFER
	 	 	 	 
	 
	 	 	 	 
	SECTION 1101. Company May Consolidate, Etc., Only on Certain Terms
	 	 	54	 
	SECTION 1102. Successor Corporation Substituted
	 	 	54	 

iii

 

	 	 	 	 	 
	ARTICLE TWELVE
	 	 	 	 
	 
	 	 	 	 
	SUPPLEMENTAL INDENTURES
	 	 	 	 
	 
	 	 	 	 
	SECTION 1201. Supplemental Indentures Without Consent of Holders
	 	 	55	 
	SECTION 1202. Supplemental Indentures With Consent of Holders
	 	 	56	 
	SECTION 1203. Execution of Supplemental Indentures
	 	 	58	 
	SECTION 1204. Effect of Supplemental Indentures
	 	 	58	 
	SECTION 1205. Conformity With Trust Indenture Act
	 	 	58	 
	SECTION 1206. Reference in Securities to Supplemental Indentures
	 	 	58	 
	SECTION 1207. Modification Without Supplemental Indenture
	 	 	58	 
	 
	 	 	 	 
	ARTICLE THIRTEEN
	 	 	 	 
	 
	 	 	 	 
	MEETINGS OF HOLDERS; ACTION WITHOUT MEETING
	 	 	 	 
	 
	 	 	 	 
	SECTION 1301. Purposes for Which Meetings May Be Called
	 	 	59	 
	SECTION 1302. Call, Notice and Place of Meetings
	 	 	59	 
	SECTION 1303. Persons Entitled to Vote at Meetings
	 	 	60	 
	SECTION 1304. Quorum; Action
	 	 	60	 
	SECTION 1305. Attendance at Meetings; Determination of Voting Rights; Conduct and Adjournment of Meetings
	 	 	61	 
	SECTION 1306. Counting Votes and Recording Action of Meetings
	 	 	62	 
	SECTION 1307. Action Without Meeting
	 	 	62	 
	 
	 	 	 	 
	ARTICLE FOURTEEN
	 	 	 	 
	 
	 	 	 	 
	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS
	 	 	 	 
	 
	 	 	 	 
	SECTION 1401. Liability Solely Corporate
	 	 	62	 
	 
	 	 	 	 
	SIGNATURES 
	 	 	64	 

iv

 

ATS MEDICAL, INC.

RECONCILIATION AND TIE BETWEEN TRUST INDENTURE ACT OF 1939

AND INDENTURE, DATED AS OF                     

			
	Trust Indenture Act Section	 	Indenture Section
	§310  (a)(1)
	 	909
	          (a)(2)
	 	909
	          (a)(3)
	 	914(b)
	          (a)(4)
	 	Not Applicable
	          (b)
	 	908
	 
	 	910
	§311  (a)
	 	913
	          (b)
	 	913
	          (c)
	 	913
	§312  (a)
	 	1001
	          (b)	 	1001
	          (c)	 	1001
	§313  (a)
	 	1002
	          (b)	 	1002
	          (c)
	 	1002
	          (d)
	 	1002
	§314  (a)	 	1002
	          (a)(4)
	 	606
	          (b)
	 	Not Applicable
	          (c)(1)	 	102
	          (c)(2)
	 	102
	          (c)(3)
	 	Not Applicable
	          (d)	 	Not Applicable
	          (e)
	 	102
	§315  (a)
	 	901
	 
	 	903
	          (b)
	 	902
	          (c)
	 	901
	          (d)
	 	901

	          (e)
	 	814
	§316  (a)
	 	812
	 
	 	813
	          (a)(1)(A)
	 	812
	          (a)(1)(B)
	 	813
	          (a)(2)
	 	Not Applicable
	          (b)
	 	808
	§317  (a)(1)	 	803
	          (a)(2)
	 	804
	          (b)
	 	603
	§318  (a)
	 	107

v

 

     INDENTURE, dated as of                      between ATS MEDICAL, INC., a corporation duly organized and
existing under the laws of the State of Minnesota (herein called the “Company”), having its
principal office at 3905 Annapolis Lane, Suite 105, Minneapolis, Minnesota 55447 and [                    ],
a national banking association organized and existing under the laws of the United States of
America, having its principal corporate trust office at [                    ], as Trustee (herein called the
“Trustee”).

RECITAL OF THE COMPANY

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of its unsecured debentures, notes or other evidences of
indebtedness (herein called the “Securities”), to be issued in one or more series as contemplated
herein, and all acts necessary to make this Indenture a valid agreement of the Company have been
performed.

     For all purposes of this Indenture, except as otherwise expressly provided or unless the
context otherwise requires, capitalized terms used herein shall have the meanings assigned to them
in Article One of this Indenture.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

SECTION 101. Definitions

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

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

     (b) all terms used herein without definition which are defined in the Trust Indenture
Act, either directly or by reference therein, have the meanings assigned to them therein;

     (c) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with generally accepted accounting principles in the United States, and,
except as otherwise herein expressly provided, the term “generally accepted accounting
principles” with respect to any computation required or permitted hereunder shall mean such
accounting principles as are generally accepted in the United States at the date of such
computation or, at the election of the Company from time to time, at the date of the execution and delivery of this Indenture; provided, however,
that in determining generally accepted accounting principles applicable to the Company, the
Company shall, to the extent required, conform to any order, rule or regulation of any
administrative agency, regulatory authority or other governmental body having jurisdiction
over the Company; and

1

 

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

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

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

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

     “Authenticating Agent” means any Person (other than the Company or an Affiliate of the
Company) authorized by the Trustee to act on behalf of the Trustee to authenticate one or more
series of Securities.

     “Authorized Officer” means the Chairman of the Board, the President, the Chief Executive
Officer, the Chief Financial Officer, any Vice President, the Treasurer, any Assistant Treasurer or
any other duly authorized officer of the Company.

     “Board of Directors” means either the board of directors of the Company or any committee
thereof duly authorized to act in respect of matters relating to this Indenture.

     “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 and to be in full
force and effect on the date of such certification, and delivered to the Trustee.

     “Business Day”, when used with respect to a Place of Payment or any other particular location
specified in the Securities or this Indenture, means any day, other than a Saturday or Sunday,
which is not a day on which banking institutions or trust companies in such Place of Payment or
other location are generally authorized or required by law, regulation or executive order to remain
closed, except as may be otherwise specified as contemplated by Section 301.

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

2

 

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

     “Company Request” or “Company Order” means a written request or order signed in the name of
the Company by an Authorized Officer and delivered to the Trustee.

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

     “corporation” means a corporation, association, company, joint stock company or business
trust.

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

     “Discount Security” means any Security which provides for an amount less than the principal
amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof
pursuant to Section 802, and “interest” with respect to a Discount Security means interest, if any,
borne by such Security at a Stated Interest Rate.

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

     “Eligible Obligations” means:

     (a) with respect to Securities denominated in Dollars, Government Obligations; or

     (b) with respect to Securities denominated in a currency other than Dollars or in a
composite currency, such other obligations or instruments as shall be specified with respect
to such Securities, as contemplated by Section 301.

     “Event of Default” has the meaning specified in Section 801.

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

     “Government Obligations” means:

     (a) direct obligations of, or obligations the timely payment of principal of and
interest on which are unconditionally guaranteed by, the United States entitled to the
benefit of the full faith and credit thereof; and

3

 

     (b) certificates, depositary receipts or other instruments which evidence a direct
ownership interest in obligations described in clause (a) above or in any specific interest
or principal payments due in respect thereof; provided, however, that the custodian of such
obligations or specific interest or principal payments shall be a bank or trust company
(which may include the Trustee or any Paying Agent) subject to Federal or state supervision
or examination with a combined capital and surplus of at least $50,000,000; and provided,
further, that except as may be otherwise required by law, such custodian shall be obligated
to pay to the holders of such certificates, depositary receipts or other instruments the
full amount received by such custodian in respect of such obligations or specific payments
and shall not be permitted to make any deduction therefrom.

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

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

     “Interest Payment Date”, when used with respect to any Security, means the Stated Maturity of
an installment of interest on such Security.

     “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 provided in such Security
or in this Indenture, whether at the Stated Maturity, by declaration of acceleration, upon call for
redemption or otherwise.

     “Officer’s Certificate” means a certificate signed by an Authorized Officer and delivered to
the Trustee.

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company,
or other counsel acceptable to the Trustee.

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

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

     (b) Securities deemed to have been paid in accordance with Section 701; and

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

provided, however, that in determining whether or not the Holders of the requisite principal amount
of the Securities Outstanding under this Indenture, or the Outstanding Securities of any series or
Tranche, have given any request, demand, authorization, direction, notice, consent or waiver
hereunder or whether or not a quorum is present at a meeting of Holders of Securities,

4

 

          (x) Securities owned by the Company or any other obligor upon the Securities or any
Affiliate of the Company or of such other obligor (unless the Company, such Affiliate or
such obligor owns all Securities Outstanding under this Indenture, or all Outstanding
Securities of each such series and each such Tranche, as the case may be, determined without
regard to this clause (x)) shall be disregarded and deemed not to be Outstanding, except
that, in determining whether the Trustee shall be protected in relying upon any such
request, demand, authorization, direction, notice, consent or waiver or upon any such
determination as to the presence of a quorum, only Securities which the Trustee knows to be
so owned shall be so disregarded; provided, however, that Securities so owned which have
been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities
and that the pledgee is not the Company or any other obligor upon the Securities or any
Affiliate of the Company or of such other obligor;

          (y) the principal amount of a Discount Security that shall be deemed to be Outstanding
for such purposes shall be the amount of the principal thereof that would be due and payable
as of the date of such determination upon a declaration of acceleration of the Maturity
thereof pursuant to Section 802; and

          (z) the principal amount of any Security which is denominated in a currency other than
Dollars or in a composite currency that shall be deemed to be Outstanding for such purposes
shall be the amount of Dollars which could have been purchased by the principal amount (or,
in the case of a Discount Security, the Dollar equivalent on the date determined as set
forth below of the amount determined as provided in (y) above) of such currency or composite
currency evidenced by such Security in each such case certified to the Trustee in an
Officer’s Certificate, based (1) on the average of the mean of the buying and selling spot
rates quoted by three banks which are members of the New York Clearing House Association
selected by the Company in effect at 11:00 A.M. (New York time) in The City of New York on
the fifth Business Day preceding any such determination or (2) if on such fifth Business Day
it shall not be possible or practicable to obtain such quotations from such three banks, on
such other quotations or alternative methods of determination which shall be as consistent
as practicable with the method set forth in (1) above;

provided, further, that, in the case of any Security the principal of which is payable from time to
time without presentment or surrender, the principal amount of such Security that shall be deemed
to be Outstanding at any time for all purposes of this Indenture shall be the original principal
amount thereof less the aggregate amount of principal thereof theretofore paid.

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

5

 

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

     “Person” means any individual, corporation, partnership, joint venture, trust or
unincorporated organization or any Governmental Authority thereof.

     “Place of Payment”, when used with respect to the Securities of any series, or Tranche
thereof, means the place or places, specified as contemplated by Section 301, at which, subject to
Section 602, principal of and premium, if any, and interest, if any, on the Securities of such
series or Tranche are payable.

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

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

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

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

     “Required Currency” has the meaning specified in Section 311.

     “Responsible Officer”, when used with respect to the Trustee, means any officer of the Trustee
assigned by the Trustee to administer its corporate trust matters.

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

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

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

     “Stated Interest Rate” means a rate (whether fixed or variable) at which an obligation by its
terms is stated to bear simple interest. Any calculation or other determination to be made under
this Indenture by reference to the Stated Interest Rate on a Security shall be made without regard
to the effective interest cost to the Company of such Security and without regard to the
Stated Interest Rate on, or the effective cost to the Company of, any other indebtedness the
Company’s obligations in respect of which are evidenced or secured in whole or in part by such
Security.

6

 

     “Stated Maturity”, when used with respect to any obligation or any installment of principal
thereof or interest thereon, means the date on which the principal of such obligation or such
installment of principal or interest is stated to be due and payable (without regard to any
provisions for redemption, prepayment, acceleration, purchase or extension).

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

     “Trust Indenture Act” means, as of any time, the Trust Indenture Act of 1939, as amended, or
any successor statute, as in effect at such time.

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

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

SECTION 102. Compliance Certificates and Opinions

     Except as otherwise expressly provided in this Indenture, upon any application or request by
the Company to the Trustee to take any action under any provision of this Indenture, the Company
shall, if requested by the Trustee, furnish to the Trustee an Officer’s Certificate stating that
all conditions precedent, if any, provided for in this Indenture relating to the proposed action
have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all
such conditions precedent, if any, have been complied with, except that in the case of any such
application or request as to which the furnishing of such documents is specifically required by any
provision of this Indenture relating to such particular application or request, no additional
certificate or opinion need be furnished.

     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture shall include:

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

     (b) 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;

7

 

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

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

SECTION 103. Form of Documents Delivered to Trustee

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

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

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

     Whenever, subsequent to the receipt by the Trustee of any Board Resolution, Officer’s
Certificate, Opinion of Counsel or other document or instrument, a clerical, typographical or other
inadvertent or unintentional error or omission shall be discovered therein, a new document or
instrument may be substituted therefor in corrected form with the same force and effect as if
originally filed in the corrected form and, irrespective of the date or dates of the actual
execution and/or delivery thereof, such substitute document or instrument shall be deemed to have
been executed and/or delivered as of the date or dates required with respect to the document or
instrument for which it is substituted. Anything in this Indenture to the contrary
notwithstanding, if any such corrective document or instrument indicates that action has been taken
by or at the request of the Company which could not have been taken had the original document or
instrument not contained such error or omission, the action so taken shall not be invalidated or
otherwise rendered ineffective but shall be and remain in full force and effect, except to the
extent that such action was a result of willful misconduct or bad faith. Without limiting the
generality of the foregoing, any Securities issued under the authority of such defective document
or instrument shall nevertheless be the valid obligations of the Company
entitled to the benefits of this Indenture equally and ratably with all other Outstanding
Securities, except as aforesaid.

8

 

SECTION 104. Acts of Holders

     (a) Any request, demand, authorization, direction, notice, consent, election, waiver or
other action provided by this Indenture to be made, given or taken by Holders may be
embodied in and evidenced by one or more instruments of substantially similar tenor signed
by such Holders in person or by an agent duly appointed in writing or, alternatively, may be
embodied in and evidenced by the record of Holders voting in favor thereof, either in person
or by proxies duly appointed in writing, at any meeting of Holders duly called and held in
accordance with the provisions of Article Thirteen, or a combination of such instruments and
any such record. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments or record or both are delivered to the Trustee
and, where it is hereby expressly required, to the Company. Such instrument or instruments
and any such record (and the action embodied therein and evidenced thereby) are herein
sometimes referred to as the “Act” of the Holders signing such instrument or instruments and
so voting at any such meeting. Proof of execution of any such instrument or of a writing
appointing any such agent, or of the holding by any Person of a Security, shall be
sufficient for any purpose of this Indenture and (subject to Section 901) conclusive in
favor of the Trustee and the Company, if made in the manner provided in this Section. The
record of any meeting of Holders shall be proved in the manner provided in Section 1306.

     (b) The fact and date of the execution by any Person of any such instrument or writing
may be proved by the affidavit of a witness of such execution or by a certificate of a
notary public or other officer authorized by law to take acknowledgments of deeds,
certifying that the individual signing such instrument or writing acknowledged to him the
execution thereof or may be proved in any other manner which the Trustee and the Company
deem sufficient. Where such execution is by a signer acting in a capacity other than such
signer’s individual capacity, such certificate or affidavit shall also constitute sufficient
proof of such signer’s authority.

     (c) The principal amount (except as otherwise contemplated in clause (y) of the proviso
to the definition of Outstanding) and serial numbers of Securities held by any Person, and
the date of holding the same, shall be proved by the Security Register.

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

     (e) Until such time as written instruments shall have been delivered to the Trustee
with respect to the requisite percentage of principal amount of Securities for the action
contemplated by such instruments, any such instrument executed and delivered by
or on behalf of a Holder may be revoked with respect to any or all of such Securities
by written notice by such Holder or any subsequent Holder, proven in the manner in which
such instrument was proven.

9

 

     (f) Securities of any series, or any Tranche thereof, authenticated and delivered after
any Act of Holders may, and shall if required by the Trustee, bear a notation in form
approved by the Trustee as to any action taken by such Act of Holders. If the Company shall
so determine, new Securities of any series, or any Tranche thereof, so modified as to
conform, in the opinion of the Trustee and the Company, to such action may be prepared and
executed by the Company and authenticated and delivered by the Trustee in exchange for
Outstanding Securities of such series or Tranche.

     (g) If the Company shall solicit from Holders any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Company may, at its option, by Company
Order, fix in advance a record date for the determination of Holders entitled to give such
request, demand, authorization, direction, notice, consent, waiver or other Act, but the
Company shall have no obligation to do so. If such a record date is fixed, such request,
demand, authorization, direction, notice, consent, waiver or other Act may be given before
or after such record date, but only the Holders of record at the close of business on the
record date shall be deemed to be Holders for the purposes of determining whether Holders of
the requisite proportion of the Outstanding Securities have authorized or agreed or
consented to such request, demand, authorization, direction, notice, consent, waiver or
other Act, and for that purpose the Outstanding Securities shall be computed as of the
record date.

SECTION 105. Notices, Etc. to Trustee and Company

     Any request, demand, authorization, direction, notice, consent, election, waiver or Act of
Holders or other document provided or permitted by this Indenture to be made upon, given or
furnished to, or filed with, the Trustee by any Holder or by the Company, or the Company by the
Trustee or by any Holder, shall be sufficient for every purpose hereunder (unless otherwise herein
expressly provided) if in writing and delivered personally to an officer or other responsible
employee of the addressee, or transmitted by facsimile transmission, telex or other direct written
electronic means to such telephone number or other electronic communications address as the parties
hereto shall from time to time designate, or transmitted by registered mail, charges prepaid, to
the applicable address set opposite such party’s name below or to such other address as either
party hereto may from time to time designate:

     If to the Trustee, to:

[Name of Trustee]

[Address]

Attention: [Officer]

Telephone: [                    ]

Facsimile: [                    ]

10

 

     If to the Company, to:

ATS Medical, Inc.

3905 Annapolis Lane, Suite 105

Minneapolis, Minnesota 55447

Attention: [Chief Executive Officer]

Telephone: (763) 553-7736

Facsimile: (763) 553-1492

     Any communication contemplated herein shall be deemed to have been made, given, furnished and
filed if personally delivered, on the date of delivery, if transmitted by facsimile transmission,
telex or other direct written electronic means, on the date of transmission, and if transmitted by
registered mail, on the date of receipt.

SECTION 106. Notice to Holders of Securities; Waiver

     Except as otherwise expressly provided herein, where this Indenture provides for notice to
Holders of any event, such notice shall be sufficiently given, and shall be deemed given, to
Holders if in writing and mailed, first-class postage prepaid, to each Holder affected by such
event, at the address of such Holder as it appears in the Security Register, not later than the
latest date, and not earlier than the earliest date, prescribed for the giving of such notice.

     In case by reason of the suspension of regular mail service or by reason of any other cause it
shall be impracticable to give such notice to Holders by mail, then such notification as shall be
made with the approval of the Trustee shall constitute a sufficient notification for every purpose
hereunder. In any case where notice to Holders is given by mail, neither the failure to mail such
notice, nor any defect in any notice so mailed, to any particular Holder shall affect the
sufficiency of such notice with respect to other Holders.

     Any notice required by this Indenture may be waived in writing by the Person entitled to
receive such notice, either before or after the event otherwise to be specified therein, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with
the Trustee, but such filing shall not be a condition precedent to the validity of any action taken
in reliance upon such waiver.

SECTION 107. Conflict with Trust Indenture Act

     If any provision of this Indenture limits, qualifies or conflicts with another provision
hereof which is required or deemed to be included in this Indenture by, or is otherwise governed
by, any of the provisions of the Trust Indenture Act, such other provision shall control; and if
any provision hereof otherwise conflicts with the Trust Indenture Act, the Trust Indenture Act
shall control.

11

 

SECTION 108. Effect of Headings and Table of Contents

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

SECTION 109. Successors and Assigns

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

SECTION 110. Separability Clause

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

SECTION 111. Benefits of Indenture

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

SECTION 112. Governing Law

     This Indenture and the Securities shall be governed by and construed in accordance with the
laws of the State of New York.

SECTION 113. Legal Holidays

     In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any
Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture or of the Securities other than a provision in Securities of any
series, or any Tranche thereof, or in the Board Resolution or Officer’s Certificate which
establishes the terms of the Securities of such series or Tranche, which specifically states that
such provision shall apply in lieu of this Section) payment of interest or principal and premium,
if any, need not be made at such Place of Payment on such date, but may be made on the next
succeeding Business Day at such Place of Payment, except that if such Business Day is in the next
succeeding calendar year, such payment shall be made on the immediately preceding Business Day in
each case with the same force and effect as if made on the Interest Payment Date or Redemption
Date, or at the Stated Maturity, and, if such payment is made or duly provided for on such Business
Day, no interest shall accrue on the amount so payable for the period from and after such Interest
Payment Date, Redemption Date or Stated Maturity, as the case may be, to such Business Day.

12

 

ARTICLE TWO

SECURITY FORMS

SECTION 201. Forms Generally

     The definitive Securities of each series shall be in substantially the form or forms thereof
established in the indenture supplemental hereto establishing such series or in a Board Resolution
establishing such series, or in an Officer’s Certificate pursuant to such supplemental indenture or
Board Resolution, in each case with such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture, and may have such letters, numbers or
other marks of identification and such legends or endorsements placed thereon as may be required to
comply with the rules of any securities exchange or as may, consistently herewith, be determined by
the officers executing such Securities, as evidenced by their execution of the Securities. If the
form or forms of Securities of any series are established in a Board Resolution or in an Officer’s
Certificate pursuant to a Board Resolution, such Board Resolution and Officer’s Certificate, if
any, shall be delivered to the Trustee at or prior to the delivery of the Company Order
contemplated by Section 303 for the authentication and delivery of such Securities.

     Unless otherwise specified as contemplated by Section 301, the Securities of each series shall
be issuable in registered form without coupons. The definitive Securities shall be produced in
such manner as shall be determined by the officers executing such Securities, as evidenced by their
execution thereof.

SECTION 202. Form of Trustee’s Certificate of Authentication

     The Trustee’s certificate of authentication shall be in substantially the form set forth
below:

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

	 	 	 	 	 
	 	[Name of Trustee], Trustee

 	 
	 	By:  	 	 
	 	Authorized Officer 	 
	 	 	 	 
	 

13

 

ARTICLE THREE

THE SECURITIES

SECTION 301. Amount Unlimited; Issuable in Series

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

     The Securities may be issued in one or more series. Prior to the authentication and delivery
of Securities of any series there shall be established by specification in a supplemental indenture
or in a Board Resolution, or in an Officer’s Certificate pursuant to a supplemental indenture or a
Board Resolution:

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

     (b) any limit upon the aggregate principal amount of the Securities of such series
which 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 such series pursuant to Section 304, 305, 306, 406 or 1206 and,
except for any Securities which, pursuant to Section 303, are deemed never to have been
authenticated and delivered hereunder);

     (c) the Person or Persons (without specific identification) to whom interest on
Securities of such series, or any Tranche thereof, shall be payable on any Interest Payment
Date, if other than the Persons in whose names such Securities (or one or more Predecessor
Securities) are registered at the close of business on the Regular Record Date for such
interest;

     (d) the date or dates on which the principal of the Securities of such series, or any
Tranche thereof, is payable or any formula or other method or other means by which such date
or dates shall be determined, by reference to an index or other fact or event ascertainable
outside of this Indenture or otherwise (without regard to any provisions for redemption,
prepayment, acceleration, purchase or extension);

     (e) the rate or rates at which the Securities of such series, or any Tranche thereof,
shall bear interest, if any (including the rate or rates at which overdue principal shall
bear interest, if different from the rate or rates at which such Securities shall bear
interest prior to Maturity, and, if applicable, the rate or rates at which overdue premium
or interest shall bear interest, if any), or any formula or other method or other means by
which such rate or rates shall be determined, by reference to an index or other fact or
event ascertainable outside of this Indenture or otherwise; the date or dates from which
such interest shall accrue; the Interest Payment Dates on which such interest shall be
payable and the Regular Record Date, if any, for the interest payable on such Securities on
any Interest Payment Date;

14

 

     (f) the place or places at which or methods by which (1) the principal of and premium,
if any, and interest, if any, on Securities of such series, or any Tranche thereof, shall be
payable, (2) registration of transfer of Securities of such series, or any Tranche thereof,
may be effected, (3) exchanges of Securities of such series, or any Tranche thereof, may be
effected and (4) notices and demands to or upon the Company in respect of the Securities of
such series, or any Tranche thereof, and this Indenture may be served; the Security
Registrar and any Paying Agent or Agents for such series or Tranche; and if such is the
case, that the principal of such Securities shall be payable without presentment or
surrender thereof;

     (g) the period or periods within which, or the date or dates on which, the price or
prices at which and the terms and conditions upon which the Securities of such series, or
any Tranche thereof, may be redeemed, in whole or in part, at the option of the Company and
any restrictions on such redemptions, including but not limited to a restriction on a
partial redemption by the Company of the Securities of any series, or any Tranche thereof,
resulting in delisting of such Securities from any national exchange;

     (h) the obligation or obligations, if any, of the Company to redeem or purchase the
Securities of such series, or any Tranche thereof, pursuant to any sinking fund or other
mandatory redemption provisions or at the option of a Holder thereof and the period or
periods within which or the date or dates on which, the price or prices at which and the
terms and conditions upon which such Securities shall be redeemed or purchased, in whole or
in part, pursuant to such obligation, and applicable exceptions to the requirements of
Section 404 in the case of mandatory redemption or redemption at the option of the Holder;

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

     (j) the currency or currencies, including composite currencies, in which payment of the
principal of and premium, if any, and interest, if any, on the Securities of such series, or
any Tranche thereof, shall be payable (if other than in Dollars);

     (k) if the principal of or premium, if any, or interest, if any, on the Securities of
such series, or any Tranche thereof, are to be payable, at the election of the Company or a
Holder thereof, in a coin or currency other than that in which the Securities are stated to
be payable, the period or periods within which, and the terms and conditions upon which,
such election may be made;

     (l) if the principal of or premium, if any, or interest, if any, on the Securities of
such series, or any Tranche thereof, are to be payable, or are to be payable at the election
of the Company or a Holder thereof, in securities or other property, the type and amount of
such securities or other property, or the formula or other method or other means by which
such amount shall be determined, and the period or periods within which, and the terms and
conditions upon which, any such election may be made;

15

 

     (m) if the amount payable in respect of principal of or premium, if any, or interest,
if any, on the Securities of such series, or any Tranche thereof, may be determined with
reference to an index or other fact or event ascertainable outside of this Indenture, the
manner in which such amounts shall be determined to the extent not established pursuant to
clause (e) of this paragraph;

     (n) if other than the principal amount thereof, the portion of the principal amount of
Securities of such series, or any Tranche thereof, which shall be payable upon declaration
of acceleration of the Maturity thereof pursuant to Section 802;

     (o) any Events of Default, in addition to those specified in Section 801, with respect
to the Securities of such series, and any covenants of the Company for the benefit of the
Holders of the Securities of such series, or any Tranche thereof, in addition to those set
forth in Article Six;

     (p) the terms, if any, pursuant to which the Securities of such series, or any Tranche
thereof, may be converted into or exchanged for shares of capital stock or other securities
of the Company or any other Person;

     (q) the obligations or instruments, if any, which shall be considered to be Eligible
Obligations in respect of the Securities of such series, or any Tranche thereof, denominated
in a currency other than Dollars or in a composite currency, and any additional or
alternative provisions for the reinstatement of the Company’s indebtedness in respect of
such Securities after the satisfaction and discharge thereof as provided in Section 701;

     (r) if the Securities of such series, or any Tranche thereof, are to be issued in
global form, (1) any limitations on the rights of the Holder or Holders of such Securities
to transfer or exchange the same or to obtain the registration of transfer thereof, (2) any
limitations on the rights of the Holder or Holders thereof to obtain certificates therefor
in definitive form in lieu of temporary form and (3) any and all other matters incidental to
such Securities;

     (s) if the Securities of such series, or any Tranche thereof, are to be issuable as
bearer securities, any and all matters incidental thereto which are not specifically
addressed in a supplemental indenture as contemplated by clause (g) of Section 1201;

     (t) to the extent not established pursuant to clause (r) of this paragraph, any
limitations on the rights of the Holders of the Securities of such series, or any Tranche
thereof, to transfer or exchange such Securities or to obtain the registration of transfer
thereof; and if a service charge will be made for the registration of transfer or exchange
of Securities of such series, or any Tranche thereof, the amount or terms thereof;

     (u) any exceptions to Section 113, or variation in the definition of Business Day, with
respect to the Securities of such series, or any Tranche thereof; and

16

 

     (v) any other terms of the Securities of such series, or any Tranche thereof, not
inconsistent with the provisions of this Indenture.

     With respect to Securities of a series subject to a Periodic Offering, the indenture
supplemental hereto or the Board Resolution which establishes such series, or the Officer’s
Certificate pursuant to such supplemental indenture or Board Resolution, as the case may be, may
provide general terms or parameters for Securities of such series and provide either that the
specific terms of Securities of such series, or any Tranche thereof, shall be specified in a
Company Order or that such terms shall be determined by the Company or its agents in accordance
with procedures specified in a Company Order as contemplated by clause (b) of Section 303.

SECTION 302. Denominations

     Unless otherwise provided as contemplated by Section 301 with respect to any series of
Securities, or any Tranche thereof, the Securities of each series shall be issuable in
denominations of $1,000 and any integral multiple thereof.

SECTION 303. Execution, Authentication, Delivery and Dating

     Unless otherwise provided as contemplated by Section 301 with respect to any series of
Securities, or any Tranche thereof, the Securities shall be executed on behalf of the Company by an
Authorized Officer and may have the corporate seal of the Company affixed thereto or reproduced
thereon and attested by any other Authorized Officer. The signature of any or all of these
officers on the Securities may be manual or facsimile.

     Securities bearing the manual or facsimile signatures of individuals who were at the time of
execution Authorized Officers of the Company shall bind the Company, notwithstanding that such
individuals or any of them have ceased to hold such offices prior to the authentication and
delivery of such Securities or did not hold such offices at the date of such Securities.

     The Trustee shall authenticate and deliver Securities of a series, for original issue, at one
time or from time to time in accordance with the Company Order referred to below, upon receipt by
the Trustee of:

     (a) the instrument or instruments establishing the form or forms and terms of such
series, as provided in Sections 201 and 301;

     (b) a Company Order requesting the authentication and delivery of such Securities and,
to the extent that the terms of such Securities shall not have been established in an
indenture supplemental hereto or in a Board Resolution, or in an Officer’s Certificate
pursuant to a supplemental indenture or Board Resolution, all as contemplated by Sections
201 and 301, either (1) establishing such terms or (2) in the case of Securities of a series
subject to a Periodic Offering, specifying procedures, acceptable to the Trustee, by which
such terms are to be established (which procedures may provide, to the extent acceptable to
the Trustee, for authentication and delivery pursuant to oral or electronic instructions
from the Company or any agent or agents
thereof, which oral instructions are to be promptly confirmed electronically or in
writing), in either case in accordance with the instrument or instruments delivered pursuant
to clause (a) above;

17

 

     (c) the Securities of such series, executed on behalf of the Company by an Authorized
Officer;

     (d) an Opinion of Counsel to the effect that:

     (1) the form or forms of such Securities have been duly authorized by the
Company and have been established in conformity with the provisions of this
Indenture;

     (2) the terms of such Securities have been duly authorized by the Company and
have been established in conformity with the provisions of this Indenture; and

     (3) such Securities, when authenticated and delivered by the Trustee and issued
and delivered by the Company in the manner and subject to any conditions specified
in such Opinion of Counsel, will have been duly issued under this Indenture and will
constitute valid and legally binding obligations of the Company, entitled to the
benefits provided by this Indenture, and enforceable in accordance with their terms,
subject, as to enforcement, to laws relating to or affecting generally the
enforcement of creditors’ rights, including, without limitation, bankruptcy and
insolvency laws and to general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law);

provided, however, that, with respect to Securities of a series subject to a Periodic Offering, the
Trustee shall be entitled to receive such Opinion of Counsel only once at or prior to the time of
the first authentication of such Securities (provided that such Opinion of Counsel addresses the
authentication and delivery of all Securities of such series) and that in lieu of the opinions
described in clauses (2) and (3) above Counsel may opine that:

          (x) when the terms of such Securities shall have been established pursuant to a Company
Order or Orders or pursuant to such procedures (acceptable to the Trustee) as may be
specified from time to time by a Company Order or Orders, all as contemplated by and in
accordance with the instrument or instruments delivered pursuant to clause (a) above, such
terms will have been duly authorized by the Company and will have been established in
conformity with the provisions of this Indenture; and

          (y) such Securities, when authenticated and delivered by the Trustee in accordance with
this Indenture and the Company Order or Orders or specified procedures referred to in
paragraph (x) above and issued and delivered by the Company in the manner and subject to any
conditions specified in such Opinion of Counsel, will have been duly issued under this
Indenture and will constitute valid and legally binding obligations of the Company, entitled
to the benefits provided by the Indenture, and
enforceable in accordance with their terms, subject, as to enforcement, to laws
relating to or affecting generally the enforcement of creditors’ rights, including, without
limitation, bankruptcy and insolvency laws and to general principles of equity (regardless
of whether such enforceability is considered in a proceeding in equity or at law).

18

 

     With respect to Securities of a series subject to a Periodic Offering, the Trustee may
conclusively rely, as to the authorization by the Company of any of such Securities, the form and
terms thereof and the legality, validity, binding effect and enforceability thereof, upon the
Opinion of Counsel and other documents delivered pursuant to Sections 201 and 301 and this Section,
as applicable, at or prior to the time of the first authentication of Securities of such series
unless and until such opinion or other documents have been superseded or revoked or expire by their
terms. In connection with the authentication and delivery of Securities of a series subject to a
Periodic Offering, the Trustee shall be entitled to assume that the Company’s instructions to
authenticate and deliver such Securities do not violate any rules, regulations or orders of any
Governmental Authority having jurisdiction over the Company.

     If the form or terms of the Securities of any series have been established by or pursuant to a
Board Resolution or an Officer’s Certificate as permitted by Sections 201 or 301, the Trustee shall
not be required to authenticate such Securities if the issuance of such Securities pursuant to this
Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this
Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee.

     Unless otherwise specified as contemplated by Section 301 with respect to any series of
Securities, or any Tranche thereof, each Security shall be dated the date of its authentication.

     Unless otherwise specified as contemplated by Section 301 with respect to any series of
Securities, or any Tranche thereof, no Security shall be entitled to any benefit under this
Indenture or be valid or obligatory for any purpose unless there appears on such Security a
certificate of authentication substantially in the form provided for herein executed by the Trustee
or its agent by manual signature, and such certificate upon any Security shall be conclusive
evidence, and the only evidence, that such Security has been duly authenticated and delivered
hereunder and is entitled to the benefits of this Indenture. Notwithstanding the foregoing, if any
Security shall have been authenticated and delivered hereunder to the Company, or any Person acting
on its behalf, but shall never have been issued and sold by the Company, and the Company shall
deliver such Security to the Security Registrar for cancellation as provided in Section 309
together with a written statement (which need not comply with Section 102 and need not be
accompanied by an Officer’s Certificate and an Opinion of Counsel) stating that such Security has
never been issued and sold by the Company, for all purposes of this Indenture such Security shall
be deemed never to have been authenticated and delivered hereunder and shall never be entitled to
the benefits hereof.

SECTION 304. Temporary Securities

     Pending the preparation of definitive Securities of any series, or any Tranche thereof, the
Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary
Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any
authorized denomination, substantially of the tenor of the definitive
Securities in lieu of which they are issued, with such appropriate insertions, omissions, substitutions
and other variations as the officers executing such Securities may determine, as evidenced by their
execution of such Securities; provided, however, that temporary Securities need not recite specific
redemption, sinking fund, conversion or exchange provisions.

19

 

     Unless otherwise specified as contemplated by Section 301 with respect to the Securities of
any series, or any Tranche thereof, after the preparation of definitive Securities of such series
or Tranche, the temporary Securities of such series or Tranche shall be exchangeable, without
charge to the Holder thereof, for definitive Securities of such series or Tranche upon surrender of
such temporary Securities at the office or agency of the Company maintained pursuant to Section 602
in a Place of Payment for such Securities. Upon such surrender of temporary Securities, the
Company shall, except as aforesaid, execute and the Trustee shall authenticate and deliver in
exchange therefor definitive Securities of the same series and Tranche, of authorized denominations
and of like tenor and aggregate principal amount.

     Until exchanged in full as hereinabove provided, temporary Securities shall in all respects be
entitled to the same benefits under this Indenture as definitive Securities of the same series and
Tranche and of like tenor authenticated and delivered hereunder.

SECTION 305. Registration, Registration of Transfer and Exchange

     The Company shall cause to be kept in each office designated pursuant to Section 602, with
respect to the Securities of each series or any Tranche thereof, a register (all registers kept in
accordance with this Section being collectively referred to as the “Security Register”) in which,
subject to such reasonable regulations as it may prescribe, the Company shall provide for the
registration of Securities of such series or Tranche and the registration of transfer thereof. The
Company shall designate one Person to maintain the Security Register for the Securities of each
series on a consolidated basis, and such Person is referred to herein, with respect to such series,
as the “Security Registrar.” Anything herein to the contrary notwithstanding, the Company may
designate one or more of its offices as an office in which a register with respect to the
Securities of one or more series, or any Tranche or Tranches thereof, shall be maintained, and the
Company may designate itself the Security Registrar with respect to one or more of such series.
The Security Register shall be open for inspection by the Trustee and the Company at all reasonable
times.

     Except as otherwise specified as contemplated by Section 301 with respect to the Securities of
any series, or any Tranche thereof, upon surrender for registration of transfer of any Security of
such series or Tranche at the office or agency of the Company maintained pursuant to Section 602 in
a Place of Payment for such series or Tranche, the Company shall execute, and the Trustee shall
authenticate and deliver, in the name of the designated transferee or transferees, one or more new
Securities of the same series and Tranche, of authorized denominations and of like tenor and
aggregate principal amount.

     Except as otherwise specified as contemplated by Section 301 with respect to the Securities of
any series, or any Tranche thereof, any Security of such series or Tranche may be exchanged at the
option of the Holder, for one or more new Securities of the same series and Tranche, of authorized
denominations and of like tenor and aggregate principal amount, upon
surrender of the Securities to be exchanged at any such office or agency. Whenever any
Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Securities which the Holder making the exchange is entitled to
receive.

20

 

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

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

     Unless otherwise specified as contemplated by Section 301 with respect to Securities of any
series, or any Tranche thereof, no service charge shall be made for any registration of transfer or
exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection with any registration of transfer or
exchange of Securities, other than exchanges pursuant to Section 304, 406 or 1206 not involving any
transfer.

     The Company shall not be required to execute or to provide for the registration of transfer of
or the exchange of (a) Securities of any series, or any Tranche thereof, during a period of 15 days
immediately preceding the date notice is to be given identifying the serial numbers of the
Securities of such series or Tranche called for redemption or (b) any Security so selected for
redemption in whole or in part, except the unredeemed portion of any Security being redeemed in
part.

SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities

     If any mutilated Security is surrendered to the Trustee, the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and
Tranche, and of like tenor and principal amount and bearing a number not contemporaneously
outstanding.

     If there shall be delivered to the Company and the Trustee (a) evidence to their satisfaction
of the ownership of and the destruction, loss or theft of any Security and (b) such security or
indemnity as may be reasonably required by them to save each of them and any agent of either of
them harmless, then, in the absence of notice to the Company or the Trustee that such Security is
held by a Person purporting to be the owner of such Security, the Company shall execute and the
Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security, a
new Security of the same series and Tranche, and of like tenor and principal amount and bearing a
number not contemporaneously outstanding.

21

 

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

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

     Every new Security of any series issued pursuant to this Section in lieu of any destroyed,
lost or stolen Security shall constitute an original additional contractual obligation of the
Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by
anyone other than the Holder of such new Security, and any such new Security shall be entitled to
all the benefits of this Indenture equally and proportionately with any and all other Securities of
such series duly issued hereunder.

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

SECTION 307. Payment of Interest; Interest Rights Preserved

     Unless otherwise specified as contemplated by Section 301 with respect to the Securities of
any series, or any Tranche thereof, interest on any Security which is payable, and is punctually
paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest.

     Any interest on any Security of any series which is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the Holder on the related Regular Record Date by virtue of having
been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in clause (a) or (b) below:

     (a) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on a date (herein called a “Special Record Date”) for
the payment of such Defaulted Interest, which shall be fixed in the following manner. The
Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to
be paid on each Security of such series and the date of the proposed payment, and at the
same time the Company shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make
arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the Persons
entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall
fix a Special Record Date for the payment of such Defaulted Interest which shall be not more
than 15 days and not less than 10 days prior to the date
of the proposed payment and not less than 10 days after the receipt by the Trustee of
the notice of the proposed payment. The Trustee shall promptly notify the Company of such
Special Record Date and, in the name and at the expense of the Company, shall promptly cause
notice of the proposed payment of such Defaulted Interest and the Special Record Date
therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such
series at the address of such Holder as it appears in the Security Register, not less than
10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest
shall be paid to the Persons in whose names the Securities of such series (or their
respective Predecessor Securities) are registered at the close of business on such Special
Record Date.

22

 

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

     Subject to the foregoing provisions of this Section and Section 305, each Security delivered
under this Indenture upon registration of transfer of or in exchange for or in lieu of any other
Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried
by such other Security.

SECTION 308. Persons Deemed Owners

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

SECTION 309. Cancellation by Security Registrar

     All Securities surrendered for payment, redemption, registration of transfer or exchange
shall, if surrendered to any Person other than the Security Registrar, be delivered to the Security
Registrar and, if not theretofore canceled, shall be promptly canceled by the Security Registrar.
The Company may at any time deliver to the Security Registrar for cancellation any Securities
previously authenticated and delivered hereunder which the Company may have acquired in any manner
whatsoever or which the Company shall not have issued and sold, and all Securities so delivered
shall be promptly canceled by the Security Registrar. No Securities shall be authenticated in lieu
of or in exchange for any Securities canceled as provided in this Section, except as expressly
permitted by this Indenture. All canceled Securities held by the Security Registrar shall be
disposed of in accordance with a Company Order delivered to the Security Registrar and the Trustee,
and the Security Registrar shall promptly deliver a certificate of disposition to the Trustee and
the Company unless, by a Company Order, similarly delivered, the
Company shall direct that canceled Securities be returned to it. The Security Registrar shall
promptly deliver evidence of any cancellation of a Security in accordance with this Section 309 to
the Trustee and the Company.

23

 

SECTION 310. Computation of Interest

     Except as otherwise specified as contemplated by Section 301 for Securities of any series, or
any Tranche thereof, interest on the Securities of each series shall be computed on the basis of a
360-day year consisting of twelve 30-day months and on the basis of the actual number of days
elapsed within any month in relation to the deemed 30 days of such month.

SECTION 311. Payment to Be in Proper Currency

     In the case of the Securities of any series, or any Tranche thereof, denominated in any
currency other than Dollars or in a composite currency (the “Required Currency”), except as
otherwise specified with respect to such Securities as contemplated by Section 301, the obligation
of the Company to make any payment of the principal thereof, or the premium, if any, or interest,
if any, thereon, shall not be discharged or satisfied by any tender by the Company, or recovery by
the Trustee, in any currency other than the Required Currency, except to the extent that such
tender or recovery shall result in the Trustee timely holding the full amount of the Required
Currency then due and payable. If any such tender or recovery is in a currency other than the
Required Currency, the Trustee may take such actions as it considers appropriate to exchange such
currency for the Required Currency. The costs and risks of any such exchange, including without
limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company, the
Company shall remain fully liable for any shortfall or delinquency in the full amount of Required
Currency then due and payable, and in no circumstances shall the Trustee be liable therefor except
in the case of its negligence or willful misconduct.

ARTICLE FOUR

REDEMPTION OF SECURITIES

SECTION 401. Applicability of Article

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

SECTION 402. Election to Redeem; Notice to Trustee

     The election of the Company to redeem any Securities shall be evidenced by a Board Resolution
or an Officer’s Certificate. The Company shall, at least 45 days prior to the Redemption Date
fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the
Trustee in writing of such Redemption Date and of the principal amount of such Securities to be
redeemed. In the case of any redemption of Securities (a) prior to the expiration of any
restriction on such redemption provided in the terms of such Securities or
elsewhere in this Indenture or (b) pursuant to an election of the Company which is subject to
a condition specified in the terms of such Securities, the Company shall furnish the Trustee with
an Officer’s Certificate evidencing compliance with such restriction or condition.

24

 

SECTION 403. Selection of Securities to Be Redeemed

     If less than all the Securities of any series, or any Tranche thereof, are to be redeemed, the
particular Securities to be redeemed shall be selected by the Security Registrar from the
Outstanding Securities of such series or Tranche not previously called for redemption, by such
method as shall be provided for any particular series or Tranche, or, in the absence of any such
provision, by such method of random selection as the Security Registrar shall deem fair and
appropriate and which may, in any case, provide for the selection for redemption of portions (equal
to the minimum authorized denomination for Securities of such series or Tranche or any integral
multiple thereof) of the principal amount of Securities of such series or Tranche of a denomination
larger than the minimum authorized denomination for Securities of such series or Tranche; provided,
however, that if, as indicated in an Officer’s Certificate, the Company shall have offered to
purchase all or any principal amount of the Securities then Outstanding of any series, or any
Tranche thereof, and less than all of such Securities as to which such offer was made shall have
been tendered to the Company for such purchase, the Security Registrar, if so directed by Company
Order, shall select for redemption all or any principal amount of such Securities which have not
been so tendered.

     The Security Registrar shall promptly notify the Company and the Trustee in writing of the
Securities selected for redemption and, in the case of any Securities selected to be redeemed in
part, the principal amount thereof to be redeemed.

     For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to
be redeemed only in part, to the portion of the principal amount of such Securities which has been
or is to be redeemed.

SECTION 404. Notice of Redemption

     Notice of redemption shall be given in the manner provided in Section 106 to the Holders of
the Securities to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date.

     All notices of redemption shall state:

     (a) the Redemption Date,

     (b) the Redemption Price,

     (c) if less than all the Securities of any series or Tranche are to be redeemed, the
identification of the particular Securities to be redeemed and the portion of the principal
amount of any Security to be redeemed in part,

25

 

     (d) that on the Redemption Date the Redemption Price, together with accrued interest,
if any, to the Redemption Date, will become due and payable upon each such Security to be
redeemed and, if applicable, that interest thereon will cease to accrue on and after said
date,

     (e) the place or places where such Securities are to be surrendered for payment of the
Redemption Price and accrued interest, if any, unless it shall have been specified as
contemplated by Section 301 with respect to such Securities that such surrender shall not be
required,

     (f) that the redemption is for a sinking or other fund, if such is the case, and

     (g) such other matters as the Company shall deem desirable or appropriate.

     Unless otherwise specified with respect to any Securities in accordance with Section 301, with
respect to any notice of redemption of Securities at the election of the Company, unless, upon the
giving of such notice, such Securities shall be deemed to have been paid in accordance with Section
701, such notice may state that such redemption shall be conditional upon the receipt by the Paying
Agent or Agents for such Securities, on or prior to the date fixed for such redemption, of money
sufficient to pay the principal of and premium, if any, and interest, if any, on such Securities
and that if such money shall not have been so received such notice shall be of no force or effect
and the Company shall not be required to redeem such Securities. In the event that such notice of
redemption contains such a condition and such money is not so received, the redemption shall not be
made and within a reasonable time thereafter notice shall be given, in the manner in which the
notice of redemption was given, that such money was not so received and such redemption was not
required to be made, and the Paying Agent or Agents for the Securities otherwise to have been
redeemed shall promptly return to the Holders thereof any of such Securities which had been
surrendered for payment upon such redemption.

     Notice of redemption of Securities to be redeemed at the election of the Company, and any
notice of non-satisfaction of a condition for redemption as aforesaid, shall be given by the
Company or, at the Company’s request, by the Security Registrar in the name and at the expense of
the Company. Notice of mandatory redemption of Securities shall be given by the Security Registrar
in the name and at the expense of the Company.

SECTION 405. Securities Payable on Redemption Date

     Notice of redemption having been given as aforesaid, and the conditions, if any, set forth in
such notice having been satisfied, the Securities or portions thereof so to be redeemed shall, on
the Redemption Date, become due and payable at the Redemption Price therein specified, and from and
after such date (unless, in the case of an unconditional notice of redemption, the Company shall
default in the payment of the Redemption Price and accrued interest, if any) such Securities or
portions thereof, if interest-bearing, shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with such notice, such Security or portion thereof shall be
paid by the Company at the Redemption Price, together with accrued interest, if any, to the
Redemption Date; provided, however, that no such surrender shall be a condition to such payment if
so specified as contemplated by Section 301 with respect to such Security; and
provided, further, that except as otherwise specified as contemplated by Section 301 with
respect to such Security, any installment of interest on any Security the Stated Maturity of which
installment is on or prior to the Redemption Date shall be payable to the Holder of such Security,
or one or more Predecessor Securities, registered as such at the close of business on the related
Regular Record Date according to the terms of such Security and subject to the provisions of
Section 307.

26

 

SECTION 406. Securities Redeemed in Part

     Upon the surrender of any Security which is to be redeemed only in part at a Place of Payment
therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the
Holder thereof or such Holder’s attorney duly authorized in writing), the Company shall execute,
and the Trustee shall authenticate and deliver to the Holder of such Security, without service
charge, a new Security or Securities of the same series and Tranche, of any authorized denomination
requested by such Holder and of like tenor and in aggregate principal amount equal to and in
exchange for the unredeemed portion of the principal of the Security so surrendered.

ARTICLE FIVE

SINKING FUNDS

SECTION 501. Applicability of Article

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

     The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series, or any Tranche thereof, is herein referred to as a “mandatory sinking fund payment”, and
any payment in excess of such minimum amount provided for by the terms of Securities of any series,
or any Tranche thereof, is herein referred to as an “optional sinking fund payment”. If provided
for by the terms of Securities of any series, or any Tranche thereof, the cash amount of any
sinking fund payment may be subject to reduction as provided in Section 502. Each sinking fund
payment shall be applied to the redemption of Securities of the series or Tranche in respect of
which it was made as provided for by the terms of such Securities.

SECTION 502. Satisfaction of Sinking Fund Payments with Securities

     The Company (a) may deliver to the Trustee Outstanding Securities (other than any previously
called for redemption) of a series or Tranche in respect of which a mandatory sinking fund payment
is to be made and (b) may apply as a credit Securities of such series or Tranche which have been
(1) redeemed either at the election of the Company pursuant to the terms of such Securities or
through the application of permitted optional sinking fund payments pursuant to the terms of such
Securities or (2) repurchased by the Company in the open market, by tender offer or otherwise, in
each case in satisfaction of all or any part of such mandatory sinking fund payment; provided,
however, that no Securities shall be applied in satisfaction of a mandatory
sinking fund payment if such Securities shall have been previously so applied. Securities so
applied shall be received and credited for such purpose by the Trustee at the Redemption Price
specified in such Securities for redemption through operation of the sinking fund and the amount of
such mandatory sinking fund payment shall be reduced accordingly.

27

 

SECTION 503. Redemption of Securities for Sinking Fund

     Not less than 45 days prior to each sinking fund payment date for the Securities of any
series, or any Tranche thereof, the Company shall deliver to the Trustee an Officer’s Certificate
specifying:

     (a) the amount of the next succeeding mandatory sinking fund payment for such series or
Tranche;

     (b) the amount, if any, of the optional sinking fund payment to be made together with
such mandatory sinking fund payment;

     (c) the aggregate sinking fund payment;

     (d) the portion, if any, of such aggregate sinking fund payment which is to be
satisfied by the payment of cash;

     (e) the portion, if any, of such aggregate sinking fund payment which is to be
satisfied by delivering and crediting Securities of such series or Tranche pursuant to
Section 502 and stating the basis for such credit and that such Securities have not
previously been so credited, and the Company shall also deliver to the Trustee any
Securities to be so delivered.

     If the Company shall not deliver such Officer’s Certificate, the next succeeding sinking fund
payment for such series or Tranche shall be made entirely in cash in the amount of the mandatory
sinking fund payment. Not less than 40 days before each such sinking fund payment date the Trustee
shall select the Securities to be redeemed upon such sinking fund payment date in the manner
specified in Section 403 and cause notice of the redemption thereof to be given in the name of and
at the expense of the Company in the manner provided in Section 404. Such notice having been duly
given, the redemption of such Securities shall be made upon the terms and in the manner stated in
Sections 405 and 406.

ARTICLE SIX

COVENANTS

SECTION 601. Payment of Principal, Premium and Interest

     The Company shall pay the principal of and premium, if any, and interest, if any, on the
Securities of each series in accordance with the terms of such Securities and this Indenture.

28

 

SECTION 602. Maintenance of Office or Agency

     The Company shall maintain in each Place of Payment for the Securities of each series, or any
Tranche thereof, an office or agency where payment of such Securities shall be made, where the
registration of transfer or exchange of such Securities may be effected and where notices and
demands to or upon the Company in respect of such 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 each such office or agency and prompt notice to the Holders of any such change in the
manner specified in Section 106. If at any time the Company shall fail to maintain any such
required office or agency in respect of Securities of any series, or any Tranche thereof, or shall
fail to furnish the Trustee with the address thereof, payment of such Securities shall be made,
registration of transfer or exchange thereof may be effected and notices and demands in respect
thereof may be served at the Corporate Trust Office of the Trustee, and the Company hereby appoints
the Trustee as its agent for all such purposes in any such event.

     The Company may also from time to time designate one or more other offices or agencies with
respect to the Securities of one or more series, or any Tranche thereof, for any or all of the
foregoing purposes and may from time to time rescind such designations; provided, however, that,
unless otherwise specified as contemplated by Section 301 with respect to the Securities of such
series or Tranche, no such designation or rescission shall in any manner relieve the Company of its
obligation to maintain an office or agency for such purposes in each Place of Payment for such
Securities in accordance with the requirements set forth above. The Company shall give prompt
written notice to the Trustee, and prompt notice to the Holders in the manner specified in Section
106, of any such designation or rescission and of any change in the location of any such other
office or agency.

     Anything herein to the contrary notwithstanding, any office or agency required by this Section
may be maintained at an office of the Company, in which event the Company shall perform all
functions to be performed at such office or agency.

SECTION 603. Money for Securities Payments to Be Held in Trust

     If the Company shall at any time act as its own Paying Agent with respect to the Securities of
any series, or any Tranche thereof, it shall, on or before each due date of the principal of and
premium, if any, and interest, if any, on any of such Securities, segregate and hold in trust for
the benefit of the Persons entitled thereto a sum sufficient to pay the principal and premium or
interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as
herein provided. The Company shall promptly notify the Trustee of any failure by the Company (or
any other obligor on such Securities) to make any payment of principal of or premium, if any, or
interest, if any, on such Securities.

     Whenever the Company shall have one or more Paying Agents for the Securities of any series, or
any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any,
and interest, if any, on such Securities, deposit with such Paying Agents sums sufficient (without
duplication) to pay the principal and premium or interest so becoming due, such sums to be held in
trust for the benefit of the Persons entitled to such principal, premium or
interest, and (unless such Paying Agent is the Trustee) the Company shall promptly notify the
Trustee of any failure by it so to act.

29

 

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

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

     (b) give the Trustee notice of any failure by the Company (or any other obligor upon
such Securities) to make any payment of principal of or premium, if any, or interest, if
any, on such Securities; and

     (c) at any time during the continuance of any such failure, upon the written request of
the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent and
furnish to the Trustee such information as it possesses regarding the names and addresses of
the Persons entitled to such sums.

     The Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the
Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the
Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying
Agent and, if so stated in a Company Order delivered to the Trustee, in accordance with the
provisions of Article Seven; and, upon such payment by any Paying Agent to the Trustee, such Paying
Agent shall be released from all further liability with respect to such money.

     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of and premium, if any, or interest, if any, on any Security
and remaining unclaimed for two years after such principal and premium, if any, or interest, if
any, has become due and payable shall be paid to the Company on Company Request, or, if then held
by the Company, shall be discharged from such trust; and, upon such payment or discharge, the
Holder of such Security shall, as an unsecured general creditor and not as a Holder of an
Outstanding Security, look only to the Company for payment of the amount so due and payable and
remaining unpaid, 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 payment to
the Company, may at the expense of the Company cause to be mailed, on one occasion only, notice to
such Holder 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 mailing, any unclaimed balance of such money then
remaining will be paid to the Company.

30

 

SECTION 604. Corporate Existence

     Subject to the rights of the Company under Article Eleven, the Company shall do or cause to be
done all things necessary to preserve and keep in full force and effect its corporate existence.

SECTION 605. Maintenance of Properties

     The Company shall cause (or, with respect to property owned in common with others, make
reasonable effort to cause) all its properties used or useful in the conduct of its business to be
maintained and kept in good condition, repair and working order and shall cause (or, with respect
to property owned in common with others, make reasonable effort to cause) to be made all necessary
repairs, renewals, replacements, betterments and improvements thereof, all as, in the judgment of
the Company, may be necessary so that the business carried on in connection therewith may be
properly conducted; provided, however, that nothing in this Section shall prevent the Company from
discontinuing, or causing the discontinuance of, the operation and maintenance of any of its
properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of
its business.

SECTION 606. Annual Officer’s Certificate as to Compliance

     Not later than October 1 in each year, commencing October 1, ___, the Company shall deliver
to the Trustee an Officer’s Certificate which need not comply with Section 102, executed by the
principal executive officer, the principal financial officer or the principal accounting officer of
the Company, as to such officer’s knowledge of the Company’s compliance with all conditions and
covenants under this Indenture, such compliance to be determined without regard to any period of
grace or requirement of notice under this Indenture.

SECTION 607. Waiver of Certain Covenants

     The Company may omit in any particular instance to comply with any term, provision or
condition set forth in (a) Section 602 or any additional covenant or restriction specified with
respect to the Securities of any series, or any Tranche thereof, as contemplated by Section 301 if
before the time for such compliance the Holders of at least a majority in aggregate principal
amount of the Outstanding Securities of all series and Tranches with respect to which compliance
with Section 602 or such additional covenant or restriction is to be omitted, considered as one
class, shall, by Act of such Holders, either waive such compliance in such instance or generally
waive compliance with such term, provision or condition and (b) Section 604, 605 or Article Eleven
if before the time for such compliance the Holders of at least a majority in principal amount of
Securities Outstanding under this Indenture shall, by Act of such Holders, either waive such
compliance in such instance or generally waive compliance with such term, provision or condition;
but, in the case of (a) or (b), no such waiver shall extend to or affect such term, provision or
condition except to the extent so expressly waived, and, until such waiver shall become effective,
the obligations of the Company and the duties of the Trustee in respect of any such term, provision
or condition shall remain in full force and effect.

31

 

ARTICLE SEVEN

SATISFACTION AND DISCHARGE

SECTION 701. Satisfaction and Discharge of Securities

     Any Security or Securities, or any portion of the principal amount thereof, shall be deemed to
have been paid for all purposes of this Indenture, and the entire indebtedness of the Company in
respect thereof shall be deemed to have been satisfied and discharged, if there shall have been
irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust:

     (a) money in an amount which shall be sufficient, or

     (b) in the case of a deposit made prior to the Maturity of such Securities or portions
thereof, Eligible Obligations, which shall not contain provisions permitting the redemption
or other prepayment thereof at the option of the issuer thereof, the principal of and the
interest on which when due, without any regard to reinvestment thereof, will provide moneys
which, together with the money, if any, deposited with or held by the Trustee or such Paying
Agent, shall be sufficient, or

     (c) a combination of (a) or (b) which shall be sufficient,

to pay when due the principal of and premium, if any, and interest, if any, due and to become due
on such Securities or portions thereof on or prior to Maturity; provided, however, that in the case
of the provision for payment or redemption of less than all the Securities of any series or
Tranche, such Securities or portions thereof shall have been selected by the Security Registrar as
provided herein and, in the case of a redemption, the notice requisite to the validity of such
redemption shall have been given or irrevocable authority shall have been given by the Company to
the Trustee to give such notice, under arrangements satisfactory to the Trustee; and provided,
further, that the Company shall have delivered to the Trustee and such Paying Agent:

       (x) if such deposit shall have been made prior to the Maturity of such Securities, a
Company Order stating that the money and Eligible Obligations deposited in accordance with
this Section shall be held in trust, as provided in Section 703;

       (y) if Eligible Obligations shall have been deposited, an Opinion of Counsel that the
obligations so deposited constitute Eligible Obligations and do not contain provisions
permitting the redemption or other prepayment at the option of the issuer thereof, and an
opinion of an independent public accountant of nationally recognized standing, selected by
the Company, to the effect that the requirements set forth in clause (b) above have been
satisfied; and

       (z) if such deposit shall have been made prior to the Maturity of such Securities, an
Officer’s Certificate stating the Company’s intention that, upon delivery of such Officer’s
Certificate, its indebtedness in respect of such Securities or portions thereof will have
been satisfied and discharged as contemplated in this Section.

32

 

     Upon the deposit of money or Eligible Obligations, or both, in accordance with this Section,
together with the documents required by clauses (x), (y) and (z) above, the Trustee shall, upon
receipt of a Company Request, acknowledge in writing that the Security or Securities or portions
thereof with respect to which such deposit was made are deemed to have been paid for all purposes
of this Indenture and that the entire indebtedness of the Company in respect thereof has been
satisfied and discharged as contemplated in this Section. In the event that all of the conditions
set forth in the preceding paragraph shall have been satisfied in respect of any Securities or
portions thereof except that, for any reason, the Officer’s Certificate specified in clause (z)
shall not have been delivered, such Securities or portions thereof shall nevertheless be deemed to
have been paid for all purposes of this Indenture, and the Holders of such Securities of portions
thereof shall nevertheless be no longer entitled to the benefits of this Indenture or of any of the
covenants of the Company under Article Six (except the covenants contained in Sections 602, 603 and
604) or any other covenants made in respect of such Securities or portions thereof as contemplated
by Section 301, but the indebtedness of the Company in respect of such Securities or portions
thereof shall not be deemed to have been satisfied and discharged prior to Maturity for any other
purpose, and the Holders of such Securities or portions thereof shall continue to be entitled to
look to the Company for payment of the indebtedness represented thereby; and, upon Company Request,
the Trustee shall acknowledge in writing that such Securities or portions thereof are deemed to
have been paid for all purposes of this Indenture.

     If payment at Stated Maturity of less than all of the Securities of any series, or any Tranche
thereof, is to be provided for in the manner and with the effect provided in this Section, the
Security Registrar shall select such Securities, or portions of principal amount thereof, in the
manner specified by Section 403 for selection for redemption of less than all the Securities of a
series or Tranche.

     In the event that Securities which shall be deemed to have been paid for purposes of this
Indenture, and, if such is the case, in respect of which the Company’s indebtedness shall have been
satisfied and discharged, all as provided in this Section do not mature and are not to be redeemed
within the sixty (60) day period commencing with the date of the deposit of moneys or Eligible
Obligations, as aforesaid, the Company shall, as promptly as practicable, give a notice, in the
same manner as a notice of redemption with respect to such Securities, to the Holders of such
Securities to the effect that such deposit has been made and the effect thereof.

     Notwithstanding that any Securities shall be deemed to have been paid for purposes of this
Indenture, as aforesaid, the obligations of the Company and the Trustee in respect of such
Securities under Sections 304, 305, 306, 403, 404, 406, 503 (as to notice of redemption), 602, 603,
907, 909, 910 and 915 and this Article Seven shall survive.

     The Company shall pay, and shall indemnify the Trustee or any Paying Agent with which Eligible
Obligations shall have been deposited as provided in this Section against, any tax, fee or other
charge imposed on or assessed against such Eligible Obligations or the principal or interest
received in respect of such Eligible Obligations, including, but not limited to, any such tax
payable by any entity deemed, for tax purposes, to have been created as a result of such deposit.

33

 

     Anything herein to the contrary notwithstanding, (a) if, at any time after a Security would be
deemed to have been paid for purposes of this Indenture, and, if such is the case, the
Company’s indebtedness in respect thereof would be deemed to have been satisfied or
discharged, pursuant to this Section (without regard to the provisions of this paragraph), the
Trustee or any Paying Agent, as the case may be, shall be required to return the money or Eligible
Obligations, or combination thereof, deposited with it as aforesaid to the Company or its
representative under any applicable Federal or State bankruptcy, insolvency or other similar law,
such Security shall thereupon be deemed retroactively not to have been paid and any satisfaction
and discharge of the Company’s indebtedness in respect thereof shall retroactively be deemed not to
have been effected, and such Security shall be deemed to remain Outstanding and (b) any
satisfaction and discharge of the Company’s indebtedness in respect of any Security shall be
subject to the provisions of the last paragraph of Section 603.

SECTION 702. Satisfaction and Discharge of Indenture

     This Indenture shall upon Company Request cease to be of further effect (except as hereinafter
expressly provided), and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture, when

     (a) no Securities remain Outstanding hereunder; and

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

provided, however, that it, in accordance with the last paragraph of Section 701, any Security,
previously deemed to have been paid for purposes of this Indenture, shall be deemed retroactively
not to have been so paid, this Indenture shall thereupon be deemed retroactively not to have been
satisfied and discharged, as aforesaid, and to remain in full force and effect, and the Company
shall execute and deliver such instruments as the Trustee shall reasonably request to evidence and
acknowledge the same.

     Notwithstanding the satisfaction and discharge of this Indenture as aforesaid, the obligations
of the Company and the Trustee under Sections 304, 305, 306, 403, 404, 406, 503 (as to notice of
redemption), 602, 603, 907, 909, 910 and 915 and this Article Seven shall survive.

     Upon satisfaction and discharge of this Indenture as provided in this Section, the Trustee
shall assign, transfer and turn over to the Company, subject to the lien provided by Section 907,
any and all money, securities and other property then held by the Trustee for the benefit of the
Holders of the Securities other than money and Eligible Obligations held by the Trustee pursuant to
Section 703.

34

 

SECTION 703. Application of Trust Money

     Neither the Eligible Obligations nor the money deposited pursuant to Section 701, nor the
principal or interest payments on any such Eligible Obligations, shall be withdrawn or used for any
purpose other than, and such Eligible Obligations and money deposited and the principal and
interest payments on any such Eligible Obligations shall be held in trust for, the payment of the
principal of and premium, if any, and interest, if any, on the Securities or portions of principal
amount thereof in respect of which such deposit was made, all subject, however, to the
provisions of Section 603; provided, however, that, so long as there shall not have occurred
and be continuing an Event of Default, any cash received from such principal or interest payments
on such Eligible Obligations, if not then needed for such purpose, shall, to the extent
practicable, be invested in Eligible Obligations of the type described in clause (b) in the first
paragraph of Section 701 maturing at such times and in such amounts as shall be sufficient to pay
when due the principal of and premium, if any, and interest, if any, due and to become due on such
Securities or portions thereof on and prior to the Maturity thereof, and interest earned from such
reinvestment shall be paid over to the Company as received, free and clear of any trust, lien or
pledge under this Indenture except the lien provided by Section 907; and provided, further, that,
so long as there shall not have occurred and be continuing an Event of Default, any moneys held in
accordance with this Section on the Maturity of all such Securities in excess of the amount
required to pay the principal of and premium, if any, and interest, if any, then due on such
Securities shall be paid over to the Company free and clear of any trust, lien or pledge under this
Indenture except the lien provided by Section 907, and provided, further, that if an Event of
Default shall have occurred and be continuing, moneys to be paid over to the Company pursuant to
this Section shall be held until such Event of Default shall have been waived or cured.

ARTICLE EIGHT

EVENTS OF DEFAULT; REMEDIES

SECTION 801. Events of Default

     “Event of Default”, wherever used herein with respect to Securities of any series, means any
one of the following events:

     (a) failure to pay interest, if any, on any Security of such series within 60 days
after the same becomes due and payable; or

     (b) failure to pay the principal of or premium, if any, on any Security of such series
within three Business Days after its Maturity; or

     (c) failure to perform, or breach of, any covenant or warranty of the Company in this
Indenture (other than a covenant or warranty a default in the performance of which or breach
of which is elsewhere in this Section specifically dealt with or which has expressly been
included in this Indenture solely for the benefit of one or more series of Securities other
than such series) for a period of 60 days after there has been given, by registered or
certified mail, to the Company by the Trustee, or to the Company and the Trustee by the
Holders of at least 33% in principal amount of the Outstanding Securities of such series, a
written notice specifying such default or breach and requiring it to be remedied and stating
that such notice is a “Notice of Default” hereunder, unless the Trustee, or the Trustee and
the Holders of a principal amount of Securities of such series not less than the principal
amount of Securities the Holders of which gave such notice, as the case may be, shall agree
in writing to an extension of such period prior to its expiration; provided, however, that
the Trustee, or the Trustee and the Holders of such principal amount of Securities of such
series, as the case may be, shall be deemed to have
agreed to an extension of such period if corrective action is initiated by the Company
within such period and is being diligently pursued; or

35

 

     (d) the entry by a court having jurisdiction in the premises of (1) a decree or order
for relief in respect of the Company in an involuntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or
(2) a decree or order adjudging the Company a bankrupt or insolvent, or approving as
properly filed a petition by one or more Persons other than the Company seeking
reorganization, arrangement, adjustment or composition of or in respect of the Company under
any applicable Federal or State law, or appointing a custodian, receiver, liquidator,
assignee, trustee, sequestrator or other similar official for the Company or for any
substantial part of its property, or ordering the winding up or liquidation of its affairs,
and any such decree or order for relief or any such other decree or order shall have
remained unstayed and in effect for a period of 90 consecutive days; or

     (e) the commencement by the Company of a voluntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or
of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by
it to the entry of a decree or order for relief in respect of the Company in a case or
proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or
other similar law or to the commencement of any bankruptcy or insolvency case or proceeding
against it, or the filing by it of a petition or answer or consent seeking reorganization or
relief under any applicable Federal or State law, or the consent by it to the filing of such
petition or to the appointment of or taking possession by a custodian, receiver, liquidator,
assignee, trustee, sequestrator or similar official of the Company or of any substantial
part of its property, or the making by it of an assignment for the benefit of creditors, or
the admission by it in writing of its inability to pay its debts generally as they become
due, or the authorization of such action by the Board of Directors; or

     (f) any other Event of Default specified with respect to Securities of such series.

SECTION 802. Acceleration of Maturity; Rescission and Annulment

     If an Event of Default shall have occurred and be continuing with respect to Securities of any
series at the time Outstanding, then in every such case the Trustee or the Holders of not less than
33% in principal amount of the Outstanding Securities of such series may declare the principal
amount (or, if any of the Securities of such series are Discount Securities, such portion of the
principal amount of such Securities as may be specified in the terms thereof as contemplated by
Section 301) of all of the Securities of such series to be due and payable immediately, by a notice
in writing to the Company (and to the Trustee if given by Holders), and upon receipt by the Company
of notice of such declaration such principal amount (or specified amount) shall become immediately
due and payable; provided, however, that if an Event of Default shall have occurred and be
continuing with respect to more than one series of Securities, the Trustee or the Holders of not
less than 33% in aggregate principal amount of the Outstanding
Securities of all such series, considered as one class (and not the Holders of the Securities
of any one of such series), may make such declaration of acceleration.

36

 

     At any time after such a declaration of acceleration with respect to Securities of any series
shall have been made and before a judgment or decree for payment of the money due shall have been
obtained by the Trustee as hereinafter in this Article provided, the Event or Events of Default
giving rise to such declaration of acceleration shall, without further act, be deemed to have been
waived, and such declaration and its consequences shall, without further act, be deemed to have
been rescinded and annulled, if

     (a) the Company shall have paid or deposited with the Trustee a sum sufficient to pay

     (1) all overdue interest on all Securities of such series;

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

     (3) to the extent that payment of such interest is lawful, interest upon
overdue interest at the rate or rates prescribed therefor in such Securities;

     (4) all amounts due to the Trustee under Section 907; and

     (b) any other Event or Events of Default with respect to Securities of such series,
other than the non-payment of the principal of Securities of such series which shall have
become due solely by such declaration of acceleration, shall have been cured or waived as
provided in Section 813.

No such rescission shall affect any subsequent Event of Default or impair any right consequent
thereon.

SECTION 803. Collection of Indebtedness and Suits for Enforcement by Trustee

     If an Event of Default described in clause (a) or (b) of Section 801 shall have occurred and
be continuing, the Company shall, upon demand of the Trustee, pay to it, for the benefit of the
Holders of the Securities of the series with respect to which such Event of Default shall have
occurred, the whole amount then due and payable on such Securities for principal and premium, if
any, and interest, if any, and, to the extent permitted by law, interest on premium, if any, and on
any overdue principal and interest, at the rate or rates prescribed therefor in such Securities,
and, in addition thereto, such further amount as shall be sufficient to cover any amounts due to
the Trustee under Section 907.

     If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its
own name and as trustee of an express trust, may institute a judicial proceeding for the collection
of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may
enforce the same against the Company or any other obligor upon such Securities
and collect the moneys adjudged or decreed to be payable in the manner provided by law out of
the property of the Company or any other obligor upon such Securities, wherever situated.

37

 

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

SECTION 804. Trustee May File Proofs of Claim

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

     (a) to file and prove a claim for the whole amount of principal, premium, if any, and
interest, if any, owing and unpaid in respect of the Securities and to file such other
papers or documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for amounts due to the Trustee under Section 907) and of the
Holders allowed in such judicial proceeding, and

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Holder 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 amounts due it under Section 907.

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

SECTION 805. Trustee May Enforce Claims Without Possession of Securities

     All rights of action and claims under this Indenture or the Securities may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or the production thereof
in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be
brought in its own name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders
in respect of which such judgment has been recovered.

38

 

SECTION 806. Application of Money Collected

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

     First: To the payment of all amounts due the Trustee under Section 907;

     Second: To the payment of the amounts then due and unpaid upon the Securities for
principal of and premium, if any, and interest, if any, in respect of which or for the
benefit of which such money has been collected, ratably, without preference or priority of
any kind, according to the amounts due and payable on such Securities for principal,
premium, if any, and interest, if any, respectively; and

     Third: To the Company.

SECTION 807. Limitation on Suits

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

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

     (b) the Holders of not less than a majority in aggregate principal amount of the
Outstanding Securities of all series in respect of which an Event of Default shall have
occurred and be continuing, considered as one class, shall have made written request to the
Trustee to institute proceedings in respect of such Event of Default in its own name as
Trustee hereunder;

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

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

     (e) no direction inconsistent with such written request shall have been given to the
Trustee during such 60-day period by the Holders of a majority in aggregate principal amount
of the Outstanding Securities of all series in respect of which an Event of Default shall
have occurred and be continuing, considered as one class;

39

 

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

SECTION 808. Unconditional Right of Holders to Receive Principal, Premium and Interest

     Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal of and premium,
if any, and (subject to Section 307) interest, if any, on such Security on the Stated Maturity or
Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and
to institute suit for the enforcement of any such payment, and such rights shall not be impaired
without the consent of such Holder.

SECTION 809. Restoration of Rights and Remedies

     If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding shall have been discontinued or abandoned for any reason,
or shall have been determined adversely to the Trustee or to such Holder, then and in every such
case, subject to any determination in such proceeding, the Company, and Trustee and such Holder
shall be restored severally and respectively to their former positions hereunder and thereafter all
rights and remedies of the Trustee and such Holder shall continue as though no such proceeding had
been instituted.

SECTION 810. Rights and Remedies Cumulative

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

SECTION 811. Delay or Omission Not Waiver

     No delay or omission of the Trustee or of any Holder to exercise any right or remedy accruing
upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such
Event of Default or an acquiescence therein. Every right and remedy given by this Article or by
law to the Trustee or to the Holders may be exercised from time to time, and as often as may be
deemed expedient, by the Trustee or by the Holders, as the case may be.

40

 

SECTION 812. Control by Holders of Securities

     If an Event of Default shall have occurred and be continuing in respect of a series of
Securities, the Holders of a majority in principal amount of the Outstanding Securities of such
series shall have the right to direct the time, method and place of conducting any proceeding
for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee,
with respect to the Securities of such series; provided, however, that if an Event of Default shall
have occurred and be continuing with respect to more than one series of Securities, the Holders of
a majority in aggregate principal amount of the Outstanding Securities of all such series,
considered as one class, shall have the right to make such direction, and not the Holders of the
Securities of any one of such series; and provided, further, that

     (a) such direction shall not be in conflict with any rule of law or with this
Indenture, and could not involve the Trustee in personal liability in circumstances where
indemnity would not, in the Trustee’s sole discretion, be adequate, and

     (b) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction.

SECTION 813. Waiver of Past Defaults

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

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

     (b) in respect of a covenant or provision hereof which under Section 1202 cannot be
modified or amended without the consent of the Holder of each Outstanding Security of such
series affected.

     Upon any such waiver, such default shall cease to exist, and any and all Events 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 814. Undertaking for Costs

     The Company and the Trustee agree, and each Holder by such Holder’s acceptance of a Security
shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit
of an undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit,
having due regard to the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section shall not apply to any suit instituted by the Company,
to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders,
holding in the aggregate more than 10% in aggregate principal amount of the Outstanding Securities
of all series in respect of which such suit may be brought, considered as one class, or to any suit
instituted by any Holder for the enforcement of the payment of the principal of or
premium, if any, or interest, if any, on any Security on or after the Stated Maturity or
Maturities expressed in such Security (or, in the case of redemption, on or after the Redemption
Date).

41

 

SECTION 815. Waiver of Stay or Extension Laws

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

ARTICLE NINE

THE TRUSTEE

SECTION 901. Certain Duties and Responsibilities

     (a) Except during the continuance of an Event of Default with respect to Securities of
any series,

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

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

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

42

 

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

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

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

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

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

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

SECTION 902. Notice of Defaults

     The Trustee shall give notice of any default hereunder with respect to the Securities of any
series to the Holders of Securities of such series in the manner and to the extent required to do
so by the Trust Indenture Act, unless such default shall have been cured or waived; provided,
however, that in the case of any default of the character specified in clause (c) of Section 801,
no such notice to Holders shall be given until at least 75 days after the occurrence thereof. For
the purpose of this Section, the term “default” means any event which is, or after notice or lapse
of time, or both, would become, an Event of Default.

SECTION 903. Certain Rights of Trustee

     Subject to the provisions of Section 901 and to the applicable provisions of the Trust
Indenture Act:

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

43

 

     (b) any request or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order, or as otherwise
expressly provided herein, and any resolution of the Board of Directors may be
sufficiently evidenced by a Board Resolution;

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

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

     (e) the Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any Holder pursuant to this
Indenture, unless such Holder shall have offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction;

     (f) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or
other paper or document, but the Trustee, in its discretion, may make such further inquiry
or investigation into such facts or matters as it may see fit, and, if the Trustee shall
determine to make such further inquiry or investigation, it shall (subject to applicable
legal requirements) be entitled to examine, during normal business hours, the books, records
and premises of the Company, personally or by agent or attorney;

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

     (h) except as otherwise provided in Section 801(a) or (b), the Trustee shall not be
charged with knowledge of any Event of Default with respect to the Securities of any series
for which it is acting as Trustee unless either (1) a Responsible Officer of the Trustee
shall have actual knowledge of the Event of Default or (2) written notice of such Event of
Default shall have been given to the Trustee by the Company, any other obligor on such
Securities or by any Holder of such Securities.

44

 

SECTION 904. Not Responsible for Recitals or Issuance of Securities

     The recitals contained herein and in the Securities (except the Trustee’s certificates of
authentication) shall be taken as the statements of the Company, and neither the Trustee nor any
Authenticating Agent assumes responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the Securities. Neither
the Trustee nor any Authenticating Agent shall be accountable for the use or application by the
Company of Securities or the proceeds thereof.

SECTION 905. May Hold Securities

     Each of the Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any
other agent of the Company or the Trustee, in its individual or any other capacity, may become the
owner or pledgee of Securities and, subject to Sections 908 and 913, may otherwise deal with the
Company with the same rights it would have if it were not the Trustee, Authenticating Agent, Paying
Agent, Security Registrar or such other agent.

SECTION 906. Money Held in Trust

     Money held by the Trustee in trust hereunder need not be segregated from other funds, except
to the extent required by law. The Trustee shall be under no liability for interest on or
investment of any money received by it hereunder except as expressly provided herein or otherwise
agreed with, and for the sole benefit of, the Company.

SECTION 907. Compensation and Reimbursement

     The Company shall

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

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

     (c) indemnify the Trustee and hold it harmless from and against, any loss, liability or
expense reasonably incurred by it arising out of or in connection with the acceptance or
administration of the trust or trusts hereunder or the performance of its duties hereunder,
including the costs and expenses of defending itself against any claim or liability in
connection with the exercise or performance of any of its powers or duties hereunder, except
to the extent any such loss, liability or expense may be attributable to its negligence,
willful misconduct or bad faith.

45

 

     As security for the performance of the obligations of the Company under this Section, the
Trustee shall have a lien prior to the Securities upon all property and funds held or collected by
the Trustee as such other than property and funds held in trust under Section 703 (except as
otherwise provided in Section 703). “Trustee” for purposes of this Section shall include any
predecessor Trustee; provided, however, that the negligence, willful misconduct or bad faith of any
Trustee hereunder shall not affect the rights of any other Trustee hereunder.

SECTION 908. Disqualification; Conflicting Interests

     If the Trustee shall have or acquire any conflicting interest within the meaning of the Trust
Indenture Act, it shall either eliminate such conflicting interest or resign to the extent, in the
manner and with the effect, and subject to the conditions, provided in the Trust Indenture Act and
this Indenture. For purposes of Section 310(b)(1) of the Trust Indenture Act and to the extent
permitted thereby, the Trustee, in its capacity as trustee in respect of the Securities of any
series, shall not be deemed to have a conflicting interest arising from its capacity as trustee in
respect of the Securities of any other series.

SECTION 909. Corporate Trustee Required; Eligibility

     There shall at all times be a Trustee hereunder which shall be

     (a) a corporation organized and doing business under the laws of the United States, any
State or Territory thereof or the District of Columbia, authorized under such laws to
exercise corporate trust powers, having a combined capital and surplus of at least
$50,000,000 and subject to supervision or examination by Federal or State authority, or

     (b) if and to the extent permitted by the Commission by rule, regulation or order upon
application, a corporation or other Person organized and doing business under the laws of a
foreign government, authorized under such laws to exercise corporate trust powers, having a
combined capital and surplus of at least $50,000,000 or the Dollar equivalent of the
applicable foreign currency and subject to supervision or examination by authority of such
foreign government or a political subdivision thereof substantially equivalent to
supervision or examination applicable to United States institutional trustees, and, in
either case, qualified and eligible under this Article and the Trust Indenture Act. If such
corporation publishes reports of condition at least annually, pursuant to law or to the
requirements of such supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so
published. If at any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

46

 

SECTION 910. Resignation and Removal; Appointment of Successor

     (a) No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of appointment by the
successor Trustee in accordance with the applicable requirements of Section 911.

     (b) The Trustee may resign at any time with respect to the Securities of one or more
series by giving written notice thereof to the Company. If the instrument of acceptance by
a successor Trustee required by Section 911 shall not have been delivered to the Trustee
within 30 days after the giving of such notice of resignation, the resigning Trustee may
petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.

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

     (d) If at any time:

     (1) the Trustee shall fail to comply with Section 908 after written request
therefor by the Company or by any Holder who has been a bona fide Holder for at
least six months, or

     (2) the Trustee shall cease to be eligible under Section 909 and shall fail to
resign after written request therefor by the Company or by any such Holder, or

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

then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with
respect to all Securities or (B) subject to Section 814, any Holder who has been a bona fide
Holder for at least six months may, on behalf of itself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee with respect to
all Securities and the appointment of a successor Trustee or Trustees.

     (e) If the Trustee shall resign, be removed or become incapable of acting, or if a
vacancy shall occur in the office of Trustee for any cause (other than as contemplated in
clause (B) in clause (d) of this Section), with respect to the Securities of one or more
series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or
Trustees with respect to the Securities of that or those series (it being understood that
any such successor Trustee may be appointed with respect to the Securities of one or more or
all of such series and that at any time there shall be only one Trustee with respect to the
Securities of any particular series) and shall comply with the applicable requirements of
Section 911. If, within one year after such resignation, removal or incapability, or the
occurrence of such vacancy, a successor Trustee with respect to the Securities of any series
shall be appointed by Act of the Holders of a majority in principal amount of the
Outstanding Securities of such series delivered to the Company and the retiring Trustee, the
successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in
accordance with the applicable requirements of Section 911, become the successor Trustee
with respect to the Securities of such series and to that extent supersede the successor
Trustee appointed by the Company. If no successor Trustee with respect to the Securities of
any series shall have been so appointed by the Company or the Holders and accepted
appointment in the manner required by Section 911, any Holder who has been a bona fide
Holder of a Security of such series for at least six months may, on behalf of itself and all
others similarly situated, petition any court of competent jurisdiction for the appointment
of a successor Trustee with respect to the Securities of such series.

47

 

     (f) So long as no event which is, or after notice or lapse of time, or both, would
become, an Event of Default shall have occurred and be continuing, and except with respect
to a Trustee appointed by Act of the Holders of a majority in principal amount of the
Outstanding Securities pursuant to subsection (e) of this Section, if the Company shall have
delivered to the Trustee (1) a Board Resolution appointing a successor Trustee, effective as
of a date specified therein, and (2) an instrument of acceptance of such appointment,
effective as of such date, by such successor Trustee in accordance with Section 911, the
Trustee shall be deemed to have resigned as contemplated in subsection (b) of this Section,
the successor Trustee shall be deemed to have been appointed by the Company pursuant to
subsection (e) of this Section and such appointment shall be deemed to have been accepted as
contemplated in Section 911, all as of such date, and all other provisions of this Section
and Section 911 shall be applicable to such resignation, appointment and acceptance except
to the extent inconsistent with this clause (f).

     (g) The Company shall give notice of each resignation and each removal of the Trustee
with respect to the Securities of any series and each appointment of a successor Trustee
with respect to the Securities of any series by mailing written notice of such event by
first-class mail, postage prepaid, to all Holders of Securities of such series as their
names and addresses appear in the Security Register. Each notice shall include the name of
the successor Trustee with respect to the Securities of such series and the address of its
corporate trust office.

SECTION 911. Acceptance of Appointment by Successor

     (a) In case of the appointment hereunder of a successor Trustee with respect to the
Securities of all series, every such successor Trustee so appointed shall execute,
acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting
such appointment, and thereupon the resignation or removal of the retiring Trustee shall
become effective and such successor Trustee, without any further act, shall become vested
with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request
of the Company or the successor Trustee, such retiring Trustee shall, upon payment of all
sums owed to it, execute and deliver an instrument transferring to such successor Trustee
all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer
and deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder.

48

 

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

     (c) Upon request of any such successor Trustee, the Company shall execute any
instruments which fully vest in and confirm to such successor Trustee all such rights,
powers and trusts referred to in clause (a) or (b) of this Section, as the case may be.

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

SECTION 912. Merger, Conversion, Consolidation or Succession to Business

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

49

 

SECTION 913. Preferential Collection of Claims Against Company

     If the Trustee shall be or become a creditor of the Company or any other obligor upon the
Securities (other than by reason of a relationship described in Section 311(b) of the Trust
Indenture Act), the Trustee shall be subject to any and all applicable provisions of the Trust
Indenture Act regarding the collection of claims against the Company or such other obligor. For
purposes of Section 311(b) of the Trust Indenture Act:

     (a) the term “cash transaction” means any transaction in which full payment for goods
or securities sold is made within seven days after delivery of the goods or securities in
currency or in checks or other orders drawn upon banks or bankers and payable upon demand;

     (b) the term “self-liquidating paper” means any draft, bill of exchange, acceptance or
obligation which is made, drawn, negotiated or incurred by the Company or such obligor for
the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale
of goods, wares or merchandise and which is secured by documents evidencing title to,
possession of, or a lien upon, the goods, wares or merchandise or the receivables or
proceeds arising from the sale of the goods, wares or merchandise previously constituting
the security, provided the security is received by the Trustee simultaneously with the
creation of the creditor relationship with the Company or such obligor arising from the
making, drawing, negotiating or incurring of the draft, bill of exchange, acceptance or
obligation.

SECTION 914. Co-trustees and Separate Trustees

     At any time or times, for the purpose of meeting the legal requirements of any applicable
jurisdiction, the Company and the Trustee shall have power to appoint, and, upon the written
request of the Trustee or of the Holders of at least 33% in principal amount of the Securities then
Outstanding, the Company shall for such purpose join with the Trustee in the execution and delivery
of all instruments and agreements necessary or proper to appoint, one or more Persons approved by
the Trustee either to act as co-trustee, jointly with the Trustee, or to act as separate trustee,
in either case with such powers as may be provided in the instrument of appointment, and to vest in
such Person or Persons, in the capacity aforesaid, any property, title, right or power deemed
necessary or desirable, subject to the other provisions of this Section. If the Company does not
join in such appointment within 15 days after the receipt by it of a request so to do, or if an
Event of Default shall have occurred and be continuing, the Trustee alone shall have power to make
such appointment.

     Should any written instrument or instruments from the Company be required by any co-trustee or
separate trustee so appointed to more fully confirm to such co-trustee or separate trustee such
property, title, right or power, any and all such instruments shall, on request, be executed,
acknowledged and delivered by the Company.

     Every co-trustee or separate trustee shall, to the extent permitted by law, but to such extent
only, be appointed subject to the following conditions:

50

 

     (a) the Securities shall be authenticated and delivered, and all rights, powers, duties
and obligations hereunder in respect of the custody of securities, cash and other personal
property held by, or required to be deposited or pledged with, the Trustee hereunder, shall
be exercised solely, by the Trustee;

     (b) the rights, powers, duties and obligations hereby conferred or imposed upon the
Trustee in respect of any property covered by such appointment shall be conferred or imposed
upon and exercised or performed either by the Trustee or by the
Trustee and such co-trustee or separate trustee jointly, as shall be provided in the
instrument appointing such co-trustee or separate trustee, except to the extent that under
any law of any jurisdiction in which any particular act is to be performed, the Trustee
shall be incompetent or unqualified to perform such act, in which event such rights, powers,
duties and obligations shall be exercised and performed by such co-trustee or separate
trustee;

     (c) the Trustee at any time, by an instrument in writing executed by it, with the
concurrence of the Company, may accept the resignation of or remove any co-trustee or
separate trustee appointed under this Section, and, if an Event of Default shall have
occurred and be continuing, the Trustee shall have power to accept the resignation of, or
remove, any such co-trustee or separate trustee without the concurrence of the Company.
Upon the written request of the Trustee, the Company shall join with the Trustee in the
execution and delivery of all instruments and agreements necessary or proper to effectuate
such resignation or removal. A successor to any co-trustee or separate trustee so resigned
or removed may be appointed in the manner provided in this Section;

     (d) no co-trustee or separate trustee hereunder shall be personally liable by reason of
any act or omission of the Trustee, or any other such trustee hereunder; and

     (e) any Act of Holders delivered to the Trustee shall be deemed to have been delivered
to each such co-trustee and separate trustee.

SECTION 915. Appointment of Authenticating Agent

     The Trustee may appoint an Authenticating Agent or Agents with respect to the Securities of
one or more series, or any Tranche thereof, which shall be authorized to act on behalf of the
Trustee to authenticate Securities of such series or Tranche issued upon original issuance,
exchange, registration of transfer or partial redemption thereof or pursuant to Section 306, and
Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid
and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference
is made in this Indenture to the authentication and delivery of Securities by the Trustee or the
Trustee’s certificate of authentication, such reference shall be deemed to include authentication
and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating
Agent shall be acceptable to the Company and shall at all times be a corporation organized and
doing business under the laws of the United States, any State or Territory thereof or the District
of Columbia or the Commonwealth of Puerto Rico, authorized under such laws to act as Authenticating
Agent, having a combined capital and surplus of not less than $50,000,000 and subject to
supervision or examination by Federal or State authority. If such Authenticating Agent publishes
reports of condition at least annually, pursuant to law or to the requirements of said supervising
or examining authority, then for the purposes of this Section, the combined capital and surplus of
such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in
its most recent report of condition so published. If at any time an Authenticating Agent shall
cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent
shall resign immediately in the manner and with the effect specified in this Section.

51

 

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

     An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee
and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by
giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such
a notice of resignation or upon such a termination, or in case at any time such Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may
appoint a successor Authenticating Agent which shall be acceptable to the Company. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the
rights, powers and duties of its predecessor hereunder, with like effect as if originally named as
an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible
under the provisions of this Section.

     The Trustee agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section, and the Trustee shall be entitled to be
reimbursed for such payments, in accordance with, and subject to the provisions of Section 907.

     The provisions of Sections 308, 904 and 905 shall be applicable to each Authenticating Agent.

     If an appointment with respect to the Securities of one or more series, or any Tranche
thereof, shall be made pursuant to this Section, the Securities of such series or Tranche may have
endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternate
certificate of authentication substantially in the following form:

52

 

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

	 	 	 	 	 	 	 
	 	 	 	, 
	Trustee

	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	As Authenticating Agent
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Authorized Signatory

     If all of the Securities of a series may not be originally issued at one time, and if the
Trustee does not have an office capable of authenticating Securities upon original issuance located
in a Place of Payment where the Company wishes to have Securities of such series
authenticated upon original issuance, the Trustee, if so requested by the Company in writing
(which writing need not comply with Section 102 and need not be accompanied by an Opinion of
Counsel), shall appoint, in accordance with this Section and in accordance with such procedures as
shall be acceptable to the Trustee, an Authenticating Agent having an office in a Place of Payment
designated by the Company with respect to such series of Securities.

ARTICLE TEN

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

SECTION 1001. Lists of Holders

     Semiannually, not later than March 1 and September 1 in each year, commencing March 1,      ,
and at such other times as the Trustee may request in writing, the Company shall furnish or cause
to be furnished to the Trustee information as to the names and addresses of the Holders, and the
Trustee shall preserve such information and similar information received by it in any other
capacity and afford to the Holders access to information so preserved by it, all to such extent, if
any, and in such manner as shall be required by the Trust Indenture Act; provided, however, that no
such list need be furnished so long as the Trustee shall be the Security Registrar.

SECTION 1002. Reports by Trustee and Company

     Not later than July 15 in each year, commencing July 15,      , the Trustee shall transmit to
the Holders and the Commission a report, dated as of the next preceding May 15, with respect to any
events and other matters described in Section 313(a) of the Trust Indenture Act, in such manner and
to the extent required by the Trust Indenture Act. The Trustee shall transmit to the Holders and
the Commission, and the Company shall file with the Trustee (within 30 days after filing with the
Commission in the case of reports which pursuant to the Trust Indenture Act must be filed with the
Commission and furnished to the Trustee) and transmit to the Holders, such other information,
reports and other documents, if any, at such times and in such manner, as shall be required by the
Trust Indenture Act.

53

 

ARTICLE ELEVEN

CONSOLIDATION, MERGER, CONVEYANCE OR OTHER TRANSFER

SECTION 1101. Company May Consolidate, Etc., Only on Certain Terms

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

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

     (b) immediately after giving effect to such transaction and treating any indebtedness
for borrowed money which becomes an obligation of the Company as a result of such
transaction as having been incurred by the Company at the time of such transaction, no Event
of Default, and no event which, after notice or lapse of time or both, would become an Event
of Default, shall have occurred and be continuing; and

     (c) the Company shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that such consolidation, merger, conveyance, or other
transfer or lease and such supplemental indenture comply with this Article and that all
conditions precedent herein provided for relating to such transactions have been complied
with.

SECTION 1102. Successor Corporation Substituted

     Upon any consolidation by the Company with or merger by the Company into any other corporation
or any conveyance, or other transfer or lease of the properties and assets of the Company
substantially as an entirety in accordance with Section 1101, the successor corporation formed by
such consolidation or into which the Company is merged or the Person to which such conveyance,
transfer or lease is made shall succeed to, and be substituted for, and may exercise every right
and power of, the Company under this Indenture with the same effect as if such successor Person had
been named as the Company herein, and thereafter, except in the case of a lease, the predecessor
Person shall be relieved of all obligations and covenants under this Indenture and the Securities
Outstanding hereunder.

54

 

ARTICLE TWELVE

SUPPLEMENTAL INDENTURES

SECTION 1201. Supplemental Indentures Without Consent of Holders

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

     (a) to evidence the succession of another Person to the Company and the assumption by
any such successor of the covenants of the Company herein and in the Securities, all as
provided in Article Eleven; or

     (b) to add one or more covenants of the Company or other provisions for the benefit of
all Holders or for the benefit of the Holders of, or to remain in effect only so long as
there shall be Outstanding, Securities of one or more specified series, or one or more
specified Tranches thereof, or to surrender any right or power herein conferred upon the
Company; or

     (c) to add any additional Events of Default with respect to all or any series of
Securities Outstanding hereunder; or

     (d) to change or eliminate any provision of this Indenture or to add any new provision
to this Indenture; provided, however, that if such change, elimination or addition shall
adversely affect the interests of the Holders of Securities of any series or Tranche
Outstanding on the date of such indenture supplemental hereto in any material respect, such
change, elimination or addition shall become effective (1) with respect to such series or
Tranche only pursuant to the provisions of Section 1202 hereof or (2) when no Security of
such series or Tranche remains Outstanding; or

     (e) to provide collateral security for all but not part of the Securities; or

     (f) to establish the form or terms of Securities of any series or Tranche as
contemplated by Sections 201 and 301; or

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

     (h) to evidence and provide for the acceptance of appointment hereunder by a separate
or successor Trustee with respect to the Securities of one or more series and to add to or
change any of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to
the requirements of clause (b) of Section 911; or

55

 

     (i) to provide for the procedures required to permit the Company to utilize, at its
option, a non-certificated system of registration for all, or any series or Tranche of, the
Securities; or

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

     (k) to cure any ambiguity, to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein, or to make any other changes to
the provisions hereof or to add other provisions with respect to matters or questions
arising under this Indenture, provided that such other changes or additions shall not
adversely affect the interests of the Holders of Securities of any series or Tranche in any
material respect.

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

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

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

SECTION 1202. Supplemental Indentures With Consent of Holders

     With the consent of the Holders of not less than a majority in aggregate principal amount of
the Securities of all series then Outstanding under this Indenture, considered as one class, by Act
of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board
Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the
purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions
of, this Indenture; provided, however, that if there shall be Securities of more than one series
Outstanding hereunder and if a proposed supplemental indenture shall directly affect the rights of
the Holders of Securities of one or more, but less than all, of such series, then the consent only
of the Holders of a majority in aggregate principal amount of the Outstanding Securities of all
series so directly affected, considered as one class, shall be required; and provided, further,
that if the Securities of any series shall have been issued in more than one Tranche and if the
proposed supplemental indenture shall directly affect the rights of the Holders of Securities of
one or more, but less than all, of such Tranches, then the consent only of the Holders of a
majority in aggregate principal amount of the Outstanding Securities of all Tranches so directly
affected, considered as one class, shall be required; and provided, further, that no such
supplemental indenture shall:

56

 

     (a) change the Stated Maturity of the principal of, or any installment of principal of
or interest on, any Security, or reduce the principal amount thereof or the rate of interest
thereon (or the amount of any installment of interest thereon) or change the method of
calculating such rate or reduce any premium payable upon the redemption thereof, or reduce
the amount of the principal of a Discount Security that would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 802, or change the
coin or currency (or other property), in which any Security or any premium or the interest
thereon is payable, or impair the right to institute suit for the enforcement of any such
payment on or after the Stated Maturity of any Security (or, in
the case of redemption, on or after the Redemption Date), without, in any such case,
the consent of the Holder of such Security, or

     (b) reduce the percentage in principal amount of the Outstanding Securities of any
series or any Tranche thereof, the consent of the Holders of which is required for any such
supplemental indenture, or the consent of the Holders of which is required for any waiver of
compliance with any provision of this Indenture or of any default hereunder and its
consequences, or reduce the requirements of Section 1304 for quorum or voting, without, in
any such case, the consent of the Holders of each Outstanding Security of such series or
Tranche, or

     (c) modify any of the provisions of this Section, Section 607 or Section 813 with
respect to the Securities of any series, or any Tranche thereof, or except to increase the
percentages in principal amount referred to in this Section or such other Sections or to
provide that other provisions of this Indenture cannot be modified or waived without the
consent of the Holder of each Outstanding Security affected thereby; provided, however, that
this clause shall not be deemed to require the consent of any Holder with respect to changes
in the references to “the Trustee” and concomitant changes in this Section, or the deletion
of this proviso, in accordance with the requirements of clause (b) of Section 911 and clause
(h) of Section 1201.

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

57

 

     It shall not be necessary for any Act of Holders under this Section to approve the particular
form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve
the substance thereof. A waiver by a Holder of such Holder’s right to consent under this Section
shall be deemed to be a consent of such Holder.

SECTION 1203. Execution of Supplemental Indentures

     In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trusts created by this Indenture, the
Trustee shall be entitled to receive, and (subject to Section 901) shall be fully protected in
relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter
into any such supplemental indenture which affects the Trustee’s own rights, duties, immunities or
liabilities under this Indenture or otherwise.

SECTION 1204. Effect of Supplemental Indentures

     Upon the execution of any supplemental indenture under this Article this Indenture shall be
modified in accordance therewith, and such supplemental indenture shall form a part of this
Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated
and delivered hereunder shall be bound thereby. Any supplemental indenture permitted by this
Article may restate this Indenture in its entirety, and, upon the execution and delivery thereof,
any such restatement shall supersede this Indenture as theretofore in effect for all purposes.

SECTION 1205. Conformity With Trust Indenture Act

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

SECTION 1206. Reference in Securities to Supplemental Indentures

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

SECTION 1207. Modification Without Supplemental Indenture

     If the terms of any particular series of Securities shall have been established in a Board
Resolution or an Officer’s Certificate pursuant to a Board Resolution as contemplated by Section
301, and not in an indenture supplemental hereto, additions to, changes in or the elimination of
any of such terms may be effected by means of a supplemental Board Resolution or Officer’s
Certificate, as the case may be, delivered to, and accepted by, the Trustee; provided, however,
that such supplemental Board Resolution or Officer’s Certificate shall not be accepted by the
Trustee or otherwise be effective unless all conditions set forth in this Indenture which would be
required to be satisfied if such additions, changes or elimination were contained in a supplemental
indenture shall have been appropriately satisfied. Upon the acceptance thereof by the Trustee, any
such supplemental Board Resolution or Officer’s Certificate shall be deemed to be a “supplemental
indenture” for purposes of Section 1204 and 1206.

58

 

ARTICLE THIRTEEN

MEETINGS OF HOLDERS; ACTION WITHOUT MEETING

SECTION 1301. Purposes for Which Meetings May Be Called

     A meeting of Holders of Securities of one or more, or all, series, or any Tranche or Tranches
thereof, may be called at any time and from time to time pursuant to this Article to make, give or
take any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be made, given or taken by Holders of Securities of such series or
Tranches.

SECTION 1302. Call, Notice and Place of Meetings

     (a) The Trustee may at any time call a meeting of Holders of Securities of one or more,
or all, series, or any Tranche or Tranches thereof, for any purpose specified in Section
1301, to be held at such time and at such place in the Borough of Manhattan, The City of New
York, as the Trustee shall determine, or, with the approval of the Company, at any other
place. Notice of every such meeting, setting forth the time and the place of such meeting
and in general terms the action proposed to be taken at such meeting, shall be given, in the
manner provided in Section 106, not less than 21 nor more than 180 days prior to the date
fixed for the meeting.

     (b) If the Trustee shall have been requested to call a meeting of the Holders of
Securities of one or more, or all, series, or any Tranche or Tranches thereof, by the
Company or by the Holders of 33% in aggregate principal amount of all of such series and
Tranches, considered as one class, for any purpose specified in Section 1301, by written
request setting forth in reasonable detail the action proposed to be taken at the meeting,
and the Trustee shall not have given the notice of such meeting within 21 days after receipt
of such request or shall not thereafter proceed to cause the meeting to be held as provided
herein, then the Company or the Holders of Securities of such series and Tranches in the
amount above specified, as the case may be, may determine the time and the place in the
Borough of Manhattan, The City of New York, or in such other place as shall be determined or
approved by the Company, for such meeting and may call such meeting for such purposes by
giving notice thereof as provided in clause (a) of this Section.

     (c) Any meeting of Holders of Securities of one or more, or all, series, or any Tranche
or Tranches thereof, shall be valid without notice if the Holders of all Outstanding
Securities of such series or Tranches are present in person or by proxy and if
representatives of the Company and the Trustee are present, or if notice is waived in
writing before or after the meeting by the Holders of all Outstanding Securities of such
series, or by such of them as are not present at the meeting in person or by proxy, and by
the Company and the Trustee.

59

 

SECTION 1303. Persons Entitled to Vote at Meetings

     To be entitled to vote at any meeting of Holders of Securities of one or more, or all, series,
or any Tranche or Tranches thereof, a Person shall be (a) a Holder of one or more Outstanding
Securities of such series or Tranches, or (b) a Person appointed by an instrument in writing as
proxy for a Holder or Holders of one or more Outstanding Securities of such series or Tranches by
such Holder or Holders. The only Persons who shall be entitled to attend any meeting of Holders of
Securities of any series or Tranche shall be the Persons entitled to vote at such meeting and their
counsel, any representatives of the Trustee and its counsel and any representatives of the Company
and its counsel.

SECTION 1304. Quorum; Action

     The Persons entitled to vote a majority in aggregate principal amount of the Outstanding
Securities of the series and Tranches with respect to which a meeting shall have been called as
hereinbefore provided, considered as one class, shall constitute a quorum for a meeting of Holders
of Securities of such series and Tranches; provided, however, that if any action is to be taken at
such meeting which this Indenture expressly provides may be taken by the Holders of a specified
percentage, which is less than a majority, in principal amount of the Outstanding Securities of
such series and Tranches, considered as one class, the Persons entitled to vote such specified
percentage in principal amount of the Outstanding Securities of such series and Tranches,
considered as one class, shall constitute a quorum. In the absence of a quorum within one hour of
the time appointed for any such meeting, the meeting shall, if convened at the request of Holders
of Securities of such series and Tranches, be dissolved. In any other case the meeting may be
adjourned for such period as may be determined by the chairman of the meeting prior to the
adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such
adjourned meeting may be further adjourned for such period as may be determined by the chairman of
the meeting prior to the adjournment of such adjourned meeting. Except as provided by clause (e)
of Section 1305, notice of the reconvening of any meeting adjourned for more than 30 days shall be
given as provided in clause (a) of Section 1302 not less than ten days prior to the date on which
the meeting is scheduled to be reconvened. Notice of the reconvening of an adjourned meeting shall
state expressly the percentage, as provided above, of the principal amount of the Outstanding
Securities of such series and Tranches which shall constitute a quorum.

     Except as limited by Section 1202, any resolution presented to a meeting or adjourned meeting
duly reconvened at which a quorum is present as aforesaid may be adopted only by the affirmative
vote of the Holders of a majority in aggregate principal amount of the Outstanding Securities of
the series and Tranches with respect to which such meeting shall have been called, considered as
one class; provided, however, that, except as so limited, any resolution with respect to any action
which this Indenture expressly provides may be taken by the Holders of a specified percentage,
which is less than a majority, in principal amount of the Outstanding Securities of such series and
Tranches, considered as one class, may be adopted at a meeting or an adjourned meeting duly
reconvened and at which a quorum is present as aforesaid by the affirmative vote of the Holders of
such specified percentage in principal amount of the Outstanding Securities of such series and
Tranches, considered as one class.

60

 

     Any resolution passed or decision taken at any meeting of Holders of Securities duly held in
accordance with this Section shall be binding on all the Holders of Securities of the series and
Tranches with respect to which such meeting shall have been held, whether or not present or
represented at the meeting.

SECTION 1305. Attendance at Meetings; Determination of Voting Rights; Conduct and Adjournment of
Meetings

     (a) Attendance at meetings of Holders of Securities may be in person or by proxy; and,
to the extent permitted by law, any such proxy shall remain in effect and be binding upon
any future Holder of the Securities with respect to which it was given
unless and until specifically revoked by the Holder or future Holder of such Securities
before being voted.

     (b) Notwithstanding any other provisions of this Indenture, the Trustee may make such
reasonable regulations as it may deem advisable for any meeting of Holders of Securities in
regard to proof of the holding of such Securities and of the appointment of proxies and in
regard to the appointment and duties of inspectors of votes, the submission and examination
of proxies, certificates and other evidence of the right to vote, and such other matters
concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise
permitted or required by any such regulations, the holding of Securities shall be proved in
the manner specified in Section 104 and the appointment of any proxy shall be proved in the
manner specified in Section 104. Such regulations may provide that written instruments
appointing proxies, regular on their face, may be presumed valid and genuine without the
proof specified in Section 104 or other proof.

     (c) The Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders as provided
in clause (b) of Section 1302, in which case the Company or the Holders of Securities of the
series and Tranches calling the meeting, as the case may be, shall in like manner appoint a
temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be
elected by vote of the Persons entitled to vote a majority in aggregate principal amount of
the Outstanding Securities of all series and Tranches represented at the meeting, considered
as one class.

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

61

 

     (e) Any meeting duly called pursuant to Section 1302 at which a quorum is present may
be adjourned from time to time by Persons entitled to vote a majority in aggregate principal
amount of the Outstanding Securities of all series and Tranches represented at the meeting,
considered as one class; and the meeting may be held as so adjourned without further notice.

SECTION 1306. Counting Votes and Recording Action of Meetings

     The vote upon any resolution submitted to any meeting of Holders shall be by written ballots
on which shall be subscribed the signatures of the Holders or of their representatives by proxy and
the principal amounts and serial numbers of the Outstanding Securities, of the series and Tranches
with respect to which the meeting shall have been called, held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes
cast at the meeting for or against any resolution and who shall make and file with the secretary of
the meeting their verified written reports of all votes cast at the meeting. A record of the
proceedings of each meeting of Holders shall be prepared by the secretary of the
meeting and there shall be attached to said record the original reports of the inspectors of
votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of
the facts setting forth a copy of the notice of the meeting and showing that said notice was given
as provided in Section 1302 and, if applicable, Section 1304. Each copy shall be signed and
verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy
shall be delivered to the Company, and another to the Trustee to be preserved by the Trustee, the
latter to have attached thereto the ballots voted at the meeting. Any record so signed and
verified shall be conclusive evidence of the matters therein stated.

SECTION 1307. Action Without Meeting

     In lieu of a vote of Holders at a meeting as hereinbefore contemplated in this Article, any
request, demand, authorization, direction, notice, consent, waiver or other action may be made,
given or taken by Holders by written instruments as provided in Section 104.

ARTICLE FOURTEEN

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND

DIRECTORS

SECTION 1401. Liability Solely Corporate

     No recourse shall be had for the payment of the principal of or premium, if any, or interest,
if any, on any Securities, or any part thereof, or for any claim based thereon or otherwise in
respect thereof, or of the indebtedness represented thereby, or upon any obligation, covenant or
agreement under this Indenture, against any incorporator, stockholder, officer or director, as
such, past, present or future of the Company or of any predecessor or successor corporation (either
directly or through the Company or a predecessor or successor corporation), whether by virtue of
any constitutional provision, statute or rule of law, or by the enforcement of any assessment or
penalty or otherwise; it being expressly agreed and understood that this Indenture and all the
Securities are solely corporate obligations, and that no personal liability whatsoever shall attach
to, or be incurred by, any incorporator, stockholder, officer or director, past, present or future,
of the Company or of any predecessor or successor corporation (either directly or indirectly
through the Company or any predecessor or successor corporation), because of the indebtedness
hereby authorized or under or by reason of any of the obligations, covenants or agreements
contained in this Indenture or in any of the Securities or to be implied herefrom or therefrom, and
that any such personal liability is hereby expressly waived and released as a condition of, and as
part of the consideration for, the execution of this Indenture and the issuance of the Securities.

62

 

 

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

63

 

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

	 	 	 	 	 
	 	ATS MEDICAL, INC.

 	 
	 	By:  	 	 
	 	 	 	 
	 	[NAME OF TRUSTEE], Trustee

 	 
	 	By:  	 	 
	 	 	 	 
	 	 	 	 
	 

64exv4w37

Exhibit 4.37

 

ATS MEDICAL, INC.

TO

[                                        ], TRUSTEE

 

SUBORDINATED DEBT SECURITIES

INDENTURE

 

DATED AS OF                     

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	ARTICLE ONE

	 
	 	 	 	 
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

	 
	 	 	 	 
	SECTION 101. Definitions

	 	 	1	 
	SECTION 102. Compliance Certificates and Opinions

	 	 	8	 
	SECTION 103. Form of Documents Delivered to Trustee

	 	 	8	 
	SECTION 104. Acts of Holders

	 	 	9	 
	SECTION 105. Notices, Etc. to Trustee and Company

	 	 	11	 
	SECTION 106. Notice to Holders of Securities; Waiver

	 	 	11	 
	SECTION 107. Conflict with Trust Indenture Act

	 	 	12	 
	SECTION 108. Effect of Headings and Table of Contents

	 	 	12	 
	SECTION 109. Successors and Assigns

	 	 	12	 
	SECTION 110. Separability Clause

	 	 	12	 
	SECTION 111. Benefits of Indenture

	 	 	12	 
	SECTION 112. Governing Law

	 	 	12	 
	SECTION 113. Legal Holidays

	 	 	13	 
	 
	 	 	 	 
	ARTICLE TWO

	 
	 	 	 	 
	SECURITY FORMS

	 
	 	 	 	 
	SECTION 201. Forms Generally

	 	 	13	 
	SECTION 202. Form of Trustee’s Certificate of Authentication

	 	 	13	 
	 
	 	 	 	 
	ARTICLE THREE

	 
	 	 	 	 
	THE SECURITIES

	 
	 	 	 	 
	SECTION 301. Amount Unlimited; Issuable in Series

	 	 	14	 
	SECTION 302. Denominations

	 	 	17	 
	SECTION 303. Execution, Authentication, Delivery and Dating

	 	 	17	 
	SECTION 304. Temporary Securities

	 	 	20	 
	SECTION 305. Registration, Registration of Transfer and Exchange

	 	 	20	 
	SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities

	 	 	21	 
	SECTION 307. Payment of Interest; Interest Rights Preserved

	 	 	22	 
	SECTION 308. Persons Deemed Owners

	 	 	23	 
	SECTION 309. Cancellation by Security Registrar

	 	 	24	 
	SECTION 310. Computation of Interest

	 	 	24	 
	SECTION 311. Payment to Be in Proper Currency

	 	 	24	 
	 
	 	 	 	 
	ARTICLE FOUR

	 
	 	 	 	 
	REDEMPTION OF SECURITIES

	 
	 	 	 	 
	SECTION 401. Applicability of Article

	 	 	24	 

i 

 

	 	 	 	 	 
	SECTION 402. Election to Redeem; Notice to Trustee

	 	 	25	 
	SECTION 403. Selection of Securities to Be Redeemed

	 	 	25	 
	SECTION 404. Notice of Redemption

	 	 	25	 
	SECTION 405. Securities Payable on Redemption Date

	 	 	27	 
	SECTION 406. Securities Redeemed in Part

	 	 	27	 
	 
	 	 	 	 
	ARTICLE FIVE

	 
	 	 	 	 
	SINKING FUNDS

	 
	 	 	 	 
	SECTION 501. Applicability of Article

	 	 	27	 
	SECTION 502. Satisfaction of Sinking Fund Payments with Securities

	 	 	28	 
	SECTION 503. Redemption of Securities for Sinking Fund

	 	 	28	 
	 
	 	 	 	 
	ARTICLE SIX

	 
	 	 	 	 
	COVENANTS

	 
	 	 	 	 
	SECTION 601. Payment of Principal, Premium and Interest

	 	 	29	 
	SECTION 602. Maintenance of Office or Agency

	 	 	29	 
	SECTION 603. Money for Securities Payments to Be Held in Trust

	 	 	29	 
	SECTION 604. Corporate Existence

	 	 	31	 
	SECTION 605. Maintenance of Properties

	 	 	31	 
	SECTION 606. Annual Officer’s Certificate as to Compliance

	 	 	31	 
	SECTION 607. Waiver of Certain Covenants

	 	 	31	 
	 
	 	 	 	 
	ARTICLE SEVEN

	 
	 	 	 	 
	SATISFACTION AND DISCHARGE

	 
	 	 	 	 
	SECTION 701. Satisfaction and Discharge of Securities

	 	 	32	 
	SECTION 702. Satisfaction and Discharge of Indenture

	 	 	34	 
	SECTION 703. Application of Trust Money

	 	 	35	 
	 
	 	 	 	 
	ARTICLE EIGHT

	 
	 	 	 	 
	EVENTS OF DEFAULT; REMEDIES

	 
	 	 	 	 
	SECTION 801. Events of Default

	 	 	35	 
	SECTION 802. Acceleration of Maturity; Rescission and Annulment

	 	 	36	 
	SECTION 803. Collection of Indebtedness and Suits for Enforcement by Trustee

	 	 	37	 
	SECTION 804. Trustee May File Proofs of Claim

	 	 	38	 
	SECTION 805. Trustee May Enforce Claims Without Possession of Securities

	 	 	39	 
	SECTION 806. Application of Money Collected

	 	 	39	 
	SECTION 807. Limitation on Suits

	 	 	39	 
	SECTION 808. Unconditional Right of Holders to Receive Principal, Premium and Interest

	 	 	40	 
	SECTION 809. Restoration of Rights and Remedies

	 	 	40	 
	SECTION 810. Rights and Remedies Cumulative

	 	 	40	 

ii 

 

	 	 	 	 	 
	SECTION 811. Delay or Omission Not Waiver

	 	 	41	 
	SECTION 812. Control by Holders of Securities

	 	 	41	 
	SECTION 813. Waiver of Past Defaults

	 	 	41	 
	SECTION 814. Undertaking for Costs

	 	 	42	 
	SECTION 815. Waiver of Stay or Extension Laws

	 	 	42	 
	 
	 	 	 	 
	ARTICLE NINE

	 
	 	 	 	 
	THE TRUSTEE

	 
	 	 	 	 
	SECTION 901. Certain Duties and Responsibilities

	 	 	42	 
	SECTION 902. Notice of Defaults

	 	 	43	 
	SECTION 903. Certain Rights of Trustee

	 	 	44	 
	SECTION 904. Not Responsible for Recitals or Issuance of Securities

	 	 	45	 
	SECTION 905. May Hold Securities

	 	 	45	 
	SECTION 906. Money Held in Trust

	 	 	45	 
	SECTION 907. Compensation and Reimbursement

	 	 	45	 
	SECTION 908. Disqualification; Conflicting Interests

	 	 	46	 
	SECTION 909. Corporate Trustee Required; Eligibility

	 	 	46	 
	SECTION 910. Resignation and Removal; Appointment of Successor

	 	 	47	 
	SECTION 911. Acceptance of Appointment by Successor

	 	 	48	 
	SECTION 912. Merger, Conversion, Consolidation or Succession to Business

	 	 	50	 
	SECTION 913. Preferential Collection of Claims Against Company

	 	 	50	 
	SECTION 914. Co-trustees and Separate Trustees

	 	 	50	 
	SECTION 915. Appointment of Authenticating Agent

	 	 	52	 
	 
	 	 	 	 
	ARTICLE TEN

	 
	 	 	 	 
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

	 
	 	 	 	 
	SECTION 1001. Lists of Holders

	 	 	53	 
	SECTION 1002. Reports by Trustee and Company

	 	 	53	 
	 
	 	 	 	 
	ARTICLE ELEVEN

	 
	 	 	 	 
	CONSOLIDATION, MERGER, CONVEYANCE OR OTHER TRANSFER

	 
	 	 	 	 
	SECTION 1101. Company May Consolidate, Etc., Only on Certain Terms

	 	 	54	 
	SECTION 1102. Successor Corporation Substituted

	 	 	54	 
	 
	 	 	 	 
	ARTICLE TWELVE

	 
	 	 	 	 
	SUPPLEMENTAL INDENTURES

	 
	 	 	 	 
	SECTION 1201. Supplemental Indentures Without Consent of Holders

	 	 	55	 
	SECTION 1202. Supplemental Indentures With Consent of Holders

	 	 	56	 
	SECTION 1203. Execution of Supplemental Indentures

	 	 	58	 
	SECTION 1204. Effect of Supplemental Indentures

	 	 	58	 
	SECTION 1205. Conformity With Trust Indenture Act

	 	 	58	 

iii 

 

	 	 	 	 	 
	SECTION 1206. Reference in Securities to Supplemental Indentures

	 	 	58	 
	SECTION 1207. Modification Without Supplemental Indenture

	 	 	58	 
	 
	 	 	 	 
	ARTICLE THIRTEEN

	 
	 	 	 	 
	MEETINGS OF HOLDERS; ACTION WITHOUT MEETING

	 
	 	 	 	 
	SECTION 1301. Purposes for Which Meetings May Be Called

	 	 	59	 
	SECTION 1302. Call, Notice and Place of Meetings

	 	 	59	 
	SECTION 1303. Persons Entitled to Vote at Meetings

	 	 	60	 
	SECTION 1304. Quorum; Action

	 	 	60	 
	SECTION 1305. Attendance at Meetings;
Determination of Voting Rights; Conduct and Adjournment of Meetings

	 	 	61	 
	SECTION 1306. Counting Votes and Recording Action of Meetings

	 	 	62	 
	SECTION 1307. Action Without Meeting

	 	 	62	 
	 
	 	 	 	 
	ARTICLE FOURTEEN

	 
	 	 	 	 
	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

	 
	 	 	 	 
	SECTION 1401. Liability Solely Corporate

	 	 	62	 
	 
	 	 	 	 
	ARTICLE FIFTEEN

	 
	 	 	 	 
	SUBORDINATION

	 
	 	 	 	 
	SECTION 1501. Agreement to Subordinate

	 	 	63	 
	SECTION 1502. Distribution on Dissolution, Liquidation and Reorganization

	 	 	63	 
	SECTION 1503. No Payment When Senior Debt In Default

	 	 	64	 
	SECTION 1504. Payment to Holders of Senior Debt

	 	 	64	 
	SECTION 1505. Subrogation

	 	 	65	 
	SECTION 1506. Payment on Securities Permitted

	 	 	66	 
	SECTION 1507. Authorization of Holders to Trustee to Effect Subordination

	 	 	66	 
	SECTION 1508. No Waiver of Subordination Provisions

	 	 	66	 
	SECTION 1509. Trustee as Holder of Senior Debt

	 	 	67	 
	SECTION 1510. Notices to Trustee

	 	 	67	 
	SECTION 1511. No Fiduciary Duty by Trustee to Holders of Senior Debt

	 	 	67	 
	SECTION 1512. Paying Agent Treated as Trustee

	 	 	68	 
	 
	 	 	 	 
	SIGNATURES

	 	 	69	 

iv 

 

ATS MEDICAL, INC.

RECONCILIATION AND TIE BETWEEN TRUST INDENTURE ACT OF 1939

AND INDENTURE, DATED AS OF                                         

	 	 	 	 	 	 	 
	Trust Indenture Act Section	 	Indenture Section	 
	§310

	 	(a)(1)
	 	 	909	 
	 

	 	(a)(2)
	 	 	909	 
	 

	 	(a)(3)
	 	 	914(b)	 
	 

	 	(a)(4)
	 	Not Applicable
	 
	 

	 	(b)
	 	 	908	 
	 

	 	 	 	 	910	 
	§311

	 	(a)
	 	 	913	 
	 

	 	(b)
	 	 	913	 
	 

	 	(c)
	 	 	913	 
	§312

	 	(a)
	 	 	1001	 
	 

	 	(b)
	 	 	1001	 
	 

	 	(c)
	 	 	1001	 
	§313

	 	(a)
	 	 	1002	 
	 

	 	(b)
	 	 	1002	 
	 

	 	(c)
	 	 	1002	 
	 

	 	(d)
	 	 	1002	 
	§314

	 	(a)
	 	 	1002	 
	 

	 	(a)(4)
	 	 	606	 
	 

	 	(b)
	 	Not Applicable
	 
	 

	 	(c)(1)
	 	 	102	 
	 

	 	(c)(2)
	 	 	102	 
	 

	 	(c)(3)
	 	Not Applicable
	 
	 

	 	(d)
	 	Not Applicable
	 
	 

	 	(e)
	 	 	102	 
	§315

	 	(a)
	 	 	901	 
	 

	 	 	 	 	903	 
	 

	 	(b)
	 	 	902	 
	 

	 	(c)
	 	 	901	 
	 

	 	(d)
	 	 	901	 
	 

	 	(e)
	 	 	814	 
	§316

	 	(a)
	 	 	812	 
	 

	 	 	 	 	813	 
	 

	 	(a)(1)(A)
	 	 	812	 
	 

	 	(a)(1)(B)
	 	 	813	 
	 

	 	(a)(2)
	 	Not Applicable
	 
	 

	 	(b)
	 	 	808	 
	§317

	 	(a)(1)
	 	 	803	 
	 

	 	(a)(2)
	 	 	804	 
	 

	 	(b)
	 	 	603	 
	§318

	 	(a)
	 	 	107	 

v 

 

     INDENTURE, dated as of                      between ATS MEDICAL, INC., a corporation duly organized and
existing under the laws of the State of Minnesota (herein called the “Company”), having its
principal office at 3905 Annapolis Lane, Suite 105, Minneapolis, Minnesota 55447 and [                    ],
a national banking association organized and existing under the laws of the United States of
America, having its principal corporate trust office at [                    ], as Trustee (herein called the
“Trustee”).

RECITAL OF THE COMPANY

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of its unsecured debentures, notes or other evidences of
indebtedness (herein called the “Securities”), to be issued in one or more series as contemplated
herein, and all acts necessary to make this Indenture a valid agreement of the Company have been
performed.

     For all purposes of this Indenture, except as otherwise expressly provided or unless the
context otherwise requires, capitalized terms used herein shall have the meanings assigned to them
in Article One of this Indenture.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

SECTION 101. Definitions

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

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

     (b) all terms used herein without definition which are defined in the Trust Indenture
Act, either directly or by reference therein, have the meanings assigned to them therein;

     (c) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with generally accepted accounting principles in the United States, and,
except as otherwise herein expressly provided, the term “generally accepted accounting
principles” with respect to any computation required or permitted hereunder shall mean such
accounting principles as are generally accepted in the United States at the date of such
computation or, at the election of the Company from time to time, at the
date of the execution and delivery of this Indenture; provided, however, that in
determining generally accepted accounting principles applicable to the Company, the Company
shall, to the extent required, conform to any order, rule or regulation of any
administrative agency, regulatory authority or other governmental body having jurisdiction
over the Company; and

1

 

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

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

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

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

     “Authenticating Agent” means any Person (other than the Company or an Affiliate of the
Company) authorized by the Trustee to act on behalf of the Trustee to authenticate one or more
series of Securities.

     “Authorized Officer” means the Chairman of the Board, the President, the Chief Executive
Officer, the Chief Financial Officer, any Vice President, the Treasurer, any Assistant Treasurer or
any other duly authorized officer of the Company.

     “Board of Directors” means either the board of directors of the Company or any committee
thereof duly authorized to act in respect of matters relating to this Indenture.

     “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 and to be in full
force and effect on the date of such certification, and delivered to the Trustee.

     “Business Day”, when used with respect to a Place of Payment or any other particular location
specified in the Securities or this Indenture, means any day, other than a Saturday or Sunday,
which is not a day on which banking institutions or trust companies in such Place of Payment or
other location are generally authorized or required by law, regulation or executive order to remain
closed, except as may be otherwise specified as contemplated by Section 301.

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

2

 

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

     “Company Request” or “Company Order” means a written request or order signed in the name of
the Company by an Authorized Officer and delivered to the Trustee.

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

     “corporation” means a corporation, association, company, joint stock company or business
trust.

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

     “Discount Security” means any Security which provides for an amount less than the principal
amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof
pursuant to Section 802, and “interest” with respect to a Discount Security means interest, if any,
borne by such Security at a Stated Interest Rate.

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

     “Eligible Obligations” means:

     (a) with respect to Securities denominated in Dollars, Government Obligations; or

     (b) with respect to Securities denominated in a currency other than Dollars or in a
composite currency, such other obligations or instruments as shall be specified with respect
to such Securities, as contemplated by Section 301.

     “Event of Default” has the meaning specified in Section 801.

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

     “Government Obligations” means:

     (a) direct obligations of, or obligations the timely payment of principal of and
interest on which are unconditionally guaranteed by, the United States entitled to the
benefit of the full faith and credit thereof; and

3

 

     (b) certificates, depositary receipts or other instruments which evidence a direct
ownership interest in obligations described in clause (a) above or in any specific interest
or principal payments due in respect thereof; provided, however, that the custodian of such
obligations or specific interest or principal payments shall be a bank or trust company
(which may include the Trustee or any Paying Agent) subject to Federal or state supervision
or examination with a combined capital and surplus of at least $50,000,000; and provided,
further, that except as may be otherwise required by law, such custodian shall be obligated
to pay to the holders of such certificates, depositary receipts or other instruments the
full amount received by such custodian in respect of such obligations or specific payments
and shall not be permitted to make any deduction therefrom.

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

     “Indebtedness” means any indebtedness for money borrowed.

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

     “Interest Payment Date”, when used with respect to any Security, means the Stated Maturity of
an installment of interest on such Security.

     “Junior Subordinated Debt” means any Indebtedness of the Company created or evidenced by an
instrument which expressly provides that such Indebtedness is subordinated in right of payment to
the Securities.

     “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 provided in such Security
or in this Indenture, whether at the Stated Maturity, by declaration of acceleration, upon call for
redemption or otherwise.

     “Obligations” has the meaning specified in Section 1502.

     “Officer’s Certificate” means a certificate signed by an Authorized Officer and delivered to
the Trustee.

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company,
or other counsel acceptable to the Trustee.

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

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

     (b) Securities deemed to have been paid in accordance with Section 701; and

4

 

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

provided, however, that in determining whether or not the Holders of the requisite principal amount
of the Securities Outstanding under this Indenture, or the Outstanding Securities of any series or
Tranche, have given any request, demand, authorization, direction, notice, consent or waiver
hereunder or whether or not a quorum is present at a meeting of Holders of Securities,

     (x) Securities owned by the Company or any other obligor upon the Securities or any
Affiliate of the Company or of such other obligor (unless the Company, such Affiliate or
such obligor owns all Securities Outstanding under this Indenture, or all Outstanding
Securities of each such series and each such Tranche, as the case may be, determined without
regard to this clause (x)) shall be disregarded and deemed not to be Outstanding, except
that, in determining whether the Trustee shall be protected in relying upon any such
request, demand, authorization, direction, notice, consent or waiver or upon any such
determination as to the presence of a quorum, only Securities which the Trustee knows to be
so owned shall be so disregarded; provided, however, that Securities so owned which have
been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities
and that the pledgee is not the Company or any other obligor upon the Securities or any
Affiliate of the Company or of such other obligor;

     (y) the principal amount of a Discount Security that shall be deemed to be Outstanding
for such purposes shall be the amount of the principal thereof that would be due and payable
as of the date of such determination upon a declaration of acceleration of the Maturity
thereof pursuant to Section 802; and

     (z) the principal amount of any Security which is denominated in a currency other than
Dollars or in a composite currency that shall be deemed to be Outstanding for such purposes
shall be the amount of Dollars which could have been purchased by the principal amount (or,
in the case of a Discount Security, the Dollar equivalent on the date determined as set
forth below of the amount determined as provided in (y) above) of such currency or composite
currency evidenced by such Security in each such case certified to the Trustee in an
Officer’s Certificate, based (1) on the average of the mean of the buying and selling spot
rates quoted by three banks which are members of the New York Clearing House Association
selected by the Company in effect at 11:00 A.M. (New York time) in The City of New York on
the fifth Business Day preceding any such determination or (2) if on such fifth Business Day
it shall not be possible or practicable to obtain such quotations from such three banks, on
such other quotations or alternative methods of determination which shall be as consistent
as practicable with the method set forth in (1) above;

provided, further, that, in the case of any Security the principal of which is payable from time to
time without presentment or surrender, the principal amount of such Security that shall be deemed
to be Outstanding at any time for all purposes of this Indenture shall be the original principal
amount thereof less the aggregate amount of principal thereof theretofore paid.

5

 

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

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

     “Person” means any individual, corporation, partnership, joint venture, trust or
unincorporated organization or any Governmental Authority thereof.

     “Place of Payment”, when used with respect to the Securities of any series, or Tranche
thereof, means the place or places, specified as contemplated by Section 301, at which, subject to
Section 602, principal of and premium, if any, and interest, if any, on the Securities of such
series or Tranche are payable.

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

     “Proceeding” has the meaning specified in Section 1502.

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

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

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

     “Required Currency” has the meaning specified in Section 311.

     “Responsible Officer”, when used with respect to the Trustee, means any officer of the Trustee
assigned by the Trustee to administer its corporate trust matters.

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

6

 

     “Securities Payment” has the meaning specified in Section 1502.

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

     “Senior Debt” means all Indebtedness of the Company, except (i) Indebtedness under the
Securities, and (ii) Indebtedness (including, without limitation, any Junior Subordinated Debt)
created or evidenced by an instrument which expressly provides that such Indebtedness is
subordinated in right of payment to any other Indebtedness of the Company. Notwithstanding anything
to the contrary in the foregoing, Senior Debt shall not include (x) any Indebtedness of the Company
to any of its Subsidiaries or other Affiliates and (y) any Indebtedness incurred for the purchase
of goods or materials or for services obtained in the ordinary course of business (other than with
the proceeds of revolving credit borrowings permitted hereby).

     “Senior Payment Default” means any default in the payment of any Obligation on any Senior Debt
when due, whether at the stated maturity of any such payment or by declaration of acceleration,
call for redemption, mandatory repurchase, payment or prepayment or otherwise.

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

     “Stated Interest Rate” means a rate (whether fixed or variable) at which an obligation by its
terms is stated to bear simple interest. Any calculation or other determination to be made under
this Indenture by reference to the Stated Interest Rate on a Security shall be made without regard
to the effective interest cost to the Company of such Security and without regard to the Stated
Interest Rate on, or the effective cost to the Company of, any other indebtedness the Company’s
obligations in respect of which are evidenced or secured in whole or in part by such Security.

     “Stated Maturity”, when used with respect to any obligation or any installment of principal
thereof or interest thereon, means the date on which the principal of such obligation or such
installment of principal or interest is stated to be due and payable (without regard to any
provisions for redemption, prepayment, acceleration, purchase or extension).

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

     “Trust Indenture Act” means, as of any time, the Trust Indenture Act of 1939, as amended, or
any successor statute, as in effect at such time.

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

7

 

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

SECTION 102. Compliance Certificates and Opinions

     Except as otherwise expressly provided in this Indenture, upon any application or request by
the Company to the Trustee to take any action under any provision of this Indenture, the Company
shall, if requested by the Trustee, furnish to the Trustee an Officer’s Certificate stating that
all conditions precedent, if any, provided for in this Indenture relating to the proposed action
have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all
such conditions precedent, if any, have been complied with, except that in the case of any such
application or request as to which the furnishing of such documents is specifically required by any
provision of this Indenture relating to such particular application or request, no additional
certificate or opinion need be furnished.

     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture shall include:

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

     (b) 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;

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

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

SECTION 103. Form of Documents Delivered to Trustee

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

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

8

 

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

     Whenever, subsequent to the receipt by the Trustee of any Board Resolution, Officer’s
Certificate, Opinion of Counsel or other document or instrument, a clerical, typographical or other
inadvertent or unintentional error or omission shall be discovered therein, a new document or
instrument may be substituted therefor in corrected form with the same force and effect as if
originally filed in the corrected form and, irrespective of the date or dates of the actual
execution and/or delivery thereof, such substitute document or instrument shall be deemed to have
been executed and/or delivered as of the date or dates required with respect to the document or
instrument for which it is substituted. Anything in this Indenture to the contrary
notwithstanding, if any such corrective document or instrument indicates that action has been taken
by or at the request of the Company which could not have been taken had the original document or
instrument not contained such error or omission, the action so taken shall not be invalidated or
otherwise rendered ineffective but shall be and remain in full force and effect, except to the
extent that such action was a result of willful misconduct or bad faith. Without limiting the
generality of the foregoing, any Securities issued under the authority of such defective document
or instrument shall nevertheless be the valid obligations of the Company entitled to the benefits
of this Indenture equally and ratably with all other Outstanding Securities, except as aforesaid.

SECTION 104. Acts of Holders

     (a) Any request, demand, authorization, direction, notice, consent, election, waiver or
other action provided by this Indenture to be made, given or taken by Holders may be
embodied in and evidenced by one or more instruments of substantially similar tenor signed
by such Holders in person or by an agent duly appointed in writing or, alternatively, may be
embodied in and evidenced by the record of Holders voting in favor thereof, either in person
or by proxies duly appointed in writing, at any meeting of Holders duly called and held in
accordance with the provisions of Article Thirteen, or a combination of such instruments and
any such record. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments or record or both are delivered to the Trustee
and, where it is hereby expressly required, to the Company. Such instrument or instruments
and any such record (and the action embodied therein and evidenced thereby) are herein
sometimes referred to as the “Act” of the Holders signing such instrument or instruments and
so voting at any such meeting. Proof of execution of any such instrument or of a writing
appointing any such agent, or of the holding by any Person of a Security, shall be
sufficient for any purpose of this Indenture and (subject to Section 901) conclusive in
favor of the Trustee and the Company, if made in the manner provided in this Section. The
record of any meeting of Holders shall be proved in the manner provided in Section 1306.

9

 

     (b) The fact and date of the execution by any Person of any such instrument or writing
may be proved by the affidavit of a witness of such execution or by a certificate of a
notary public or other officer authorized by law to take acknowledgments of deeds,
certifying that the individual signing such instrument or writing acknowledged to him the
execution thereof or may be proved in any other manner which the Trustee and the Company
deem sufficient. Where such execution is by a signer acting in a capacity other than such
signer’s individual capacity, such certificate or affidavit shall also constitute sufficient
proof of such signer’s authority.

     (c) The principal amount (except as otherwise contemplated in clause (y) of the proviso
to the definition of Outstanding) and serial numbers of Securities held by any Person, and
the date of holding the same, shall be proved by the Security Register.

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

     (e) Until such time as written instruments shall have been delivered to the Trustee
with respect to the requisite percentage of principal amount of Securities for the action
contemplated by such instruments, any such instrument executed and delivered by or on behalf
of a Holder may be revoked with respect to any or all of such Securities by written notice
by such Holder or any subsequent Holder, proven in the manner in which such instrument was
proven.

     (f) Securities of any series, or any Tranche thereof, authenticated and delivered after
any Act of Holders may, and shall if required by the Trustee, bear a notation in form
approved by the Trustee as to any action taken by such Act of Holders. If the Company shall
so determine, new Securities of any series, or any Tranche thereof, so modified as to
conform, in the opinion of the Trustee and the Company, to such action may be prepared and
executed by the Company and authenticated and delivered by the Trustee in exchange for
Outstanding Securities of such series or Tranche.

     (g) If the Company shall solicit from Holders any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Company may, at its option, by Company
Order, fix in advance a record date for the determination of Holders entitled to give such
request, demand, authorization, direction, notice, consent, waiver or other Act, but the
Company shall have no obligation to do so. If such a record date is fixed, such request,
demand, authorization, direction, notice, consent, waiver or other Act may be given before
or after such record date, but only the Holders of record at the close of business on the
record date shall be deemed to be Holders for the purposes of determining whether Holders of
the requisite proportion of the Outstanding Securities have authorized or agreed or
consented to such request, demand, authorization, direction, notice, consent, waiver or
other Act, and for that purpose the Outstanding Securities shall be computed as of the
record date.

10

 

SECTION 105. Notices, Etc. to Trustee and Company

     Any request, demand, authorization, direction, notice, consent, election, waiver or Act of
Holders or other document provided or permitted by this Indenture to be made upon, given or
furnished to, or filed with, the Trustee by any Holder or by the Company, or the Company by the
Trustee or by any Holder, shall be sufficient for every purpose hereunder (unless otherwise herein
expressly provided) if in writing and delivered personally to an officer or other responsible
employee of the addressee, or transmitted by facsimile transmission, telex or other direct written
electronic means to such telephone number or other electronic communications address as the parties
hereto shall from time to time designate, or transmitted by registered mail, charges prepaid, to
the applicable address set opposite such party’s name below or to such other address as either
party hereto may from time to time designate:

     If to the Trustee, to:

[Name of Trustee]

[Address]

Attention: [Officer]

Telephone: [                    ]

Facsimile: [                    ]

     If to the Company, to:

ATS Medical, Inc.

3905 Annapolis Lane, Suite 105

Minneapolis, Minnesota 55447

Attention: [Chief Executive Officer]

Telephone: (763) 553-7736

Facsimile: (763) 553-1492

     Any communication contemplated herein shall be deemed to have been made, given, furnished and
filed if personally delivered, on the date of delivery, if transmitted by facsimile transmission,
telex or other direct written electronic means, on the date of transmission, and if transmitted by
registered mail, on the date of receipt.

SECTION 106. Notice to Holders of Securities; Waiver

     Except as otherwise expressly provided herein, where this Indenture provides for notice to
Holders of any event, such notice shall be sufficiently given, and shall be deemed given, to
Holders if in writing and mailed, first-class postage prepaid, to each Holder affected by such
event, at the address of such Holder as it appears in the Security Register, not later than the
latest date, and not earlier than the earliest date, prescribed for the giving of such notice.

11

 

     In case by reason of the suspension of regular mail service or by reason of any other cause it
shall be impracticable to give such notice to Holders by mail, then such notification as shall be
made with the approval of the Trustee shall constitute a sufficient notification for every purpose
hereunder. In any case where notice to Holders is given by mail, neither the failure to mail such
notice, nor any defect in any notice so mailed, to any particular Holder shall affect the
sufficiency of such notice with respect to other Holders.

     Any notice required by this Indenture may be waived in writing by the Person entitled to
receive such notice, either before or after the event otherwise to be specified therein, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with
the Trustee, but such filing shall not be a condition precedent to the validity of any action taken
in reliance upon such waiver.

SECTION 107. Conflict with Trust Indenture Act

     If any provision of this Indenture limits, qualifies or conflicts with another provision
hereof which is required or deemed to be included in this Indenture by, or is otherwise governed
by, any of the provisions of the Trust Indenture Act, such other provision shall control; and if
any provision hereof otherwise conflicts with the Trust Indenture Act, the Trust Indenture Act
shall control.

SECTION 108. Effect of Headings and Table of Contents

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

SECTION 109. Successors and Assigns

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

SECTION 110. Separability Clause

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

SECTION 111. Benefits of Indenture

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

SECTION 112. Governing Law

     This Indenture and the Securities shall be governed by and construed in accordance with the
laws of the State of New York.

12

 

SECTION 113. Legal Holidays

     In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any
Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture or of the Securities other than a provision in Securities of any
series, or any Tranche thereof, or in the Board Resolution or Officer’s Certificate which
establishes the terms of the Securities of such series or Tranche, which specifically states that
such provision shall apply in lieu of this Section) payment of interest or principal and premium,
if any, need not be made at such Place of Payment on such date, but may be made on the next
succeeding Business Day at such Place of Payment, except that if such Business Day is in the next
succeeding calendar year, such payment shall be made on the immediately preceding Business Day in
each case with the same force and effect as if made on the Interest Payment Date or Redemption
Date, or at the Stated Maturity, and, if such payment is made or duly provided for on such Business
Day, no interest shall accrue on the amount so payable for the period from and after such Interest
Payment Date, Redemption Date or Stated Maturity, as the case may be, to such Business Day.

ARTICLE TWO

SECURITY FORMS

SECTION 201. Forms Generally

     The definitive Securities of each series shall be in substantially the form or forms thereof
established in the indenture supplemental hereto establishing such series or in a Board Resolution
establishing such series, or in an Officer’s Certificate pursuant to such supplemental indenture or
Board Resolution, in each case with such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture, and may have such letters, numbers or
other marks of identification and such legends or endorsements placed thereon as may be required to
comply with the rules of any securities exchange or as may, consistently herewith, be determined by
the officers executing such Securities, as evidenced by their execution of the Securities. If the
form or forms of Securities of any series are established in a Board Resolution or in an Officer’s
Certificate pursuant to a Board Resolution, such Board Resolution and Officer’s Certificate, if
any, shall be delivered to the Trustee at or prior to the delivery of the Company Order
contemplated by Section 303 for the authentication and delivery of such Securities.

     Unless otherwise specified as contemplated by Section 301, the Securities of each series shall
be issuable in registered form without coupons. The definitive Securities shall be produced in
such manner as shall be determined by the officers executing such Securities, as evidenced by their
execution thereof.

SECTION 202. Form of Trustee’s Certificate of Authentication

     The Trustee’s certificate of authentication shall be in substantially the form set forth
below:

13

 

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

	 	 	 	 	 
	 	[Name of Trustee], Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Officer 	 

ARTICLE THREE

THE SECURITIES

SECTION 301. Amount Unlimited; Issuable in Series

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

     The Securities may be issued in one or more series. Prior to the authentication and delivery
of Securities of any series there shall be established by specification in a supplemental indenture
or in a Board Resolution, or in an Officer’s Certificate pursuant to a supplemental indenture or a
Board Resolution:

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

     (b) any limit upon the aggregate principal amount of the Securities of such series
which 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 such series pursuant to Section 304, 305, 306, 406 or 1206 and,
except for any Securities which, pursuant to Section 303, are deemed never to have been
authenticated and delivered hereunder);

     (c) the Person or Persons (without specific identification) to whom interest on
Securities of such series, or any Tranche thereof, shall be payable on any Interest Payment
Date, if other than the Persons in whose names such Securities (or one or more Predecessor
Securities) are registered at the close of business on the Regular Record Date for such
interest;

     (d) the date or dates on which the principal of the Securities of such series, or any
Tranche thereof, is payable or any formula or other method or other means by which such date
or dates shall be determined, by reference to an index or other fact or event ascertainable
outside of this Indenture or otherwise (without regard to any provisions for redemption,
prepayment, acceleration, purchase or extension);

14

 

     (e) the rate or rates at which the Securities of such series, or any Tranche thereof,
shall bear interest, if any (including the rate or rates at which overdue principal shall
bear interest, if different from the rate or rates at which such Securities shall bear
interest prior to Maturity, and, if applicable, the rate or rates at which overdue premium
or interest shall bear interest, if any), or any formula or other method or other means by
which such rate or rates shall be determined, by reference to an index or other fact or
event ascertainable outside of this Indenture or otherwise; the date or dates from which
such interest shall accrue; the Interest Payment Dates on which such interest shall be
payable and the Regular Record Date, if any, for the interest payable on such Securities on
any Interest Payment Date;

     (f) the place or places at which or methods by which (1) the principal of and premium,
if any, and interest, if any, on Securities of such series, or any Tranche thereof, shall be
payable, (2) registration of transfer of Securities of such series, or any Tranche thereof,
may be effected, (3) exchanges of Securities of such series, or any Tranche thereof, may be
effected and (4) notices and demands to or upon the Company in respect of the Securities of
such series, or any Tranche thereof, and this Indenture may be served; the Security
Registrar and any Paying Agent or Agents for such series or Tranche; and if such is the
case, that the principal of such Securities shall be payable without presentment or
surrender thereof;

     (g) the period or periods within which, or the date or dates on which, the price or
prices at which and the terms and conditions upon which the Securities of such series, or
any Tranche thereof, may be redeemed, in whole or in part, at the option of the Company and
any restrictions on such redemptions, including but not limited to a restriction on a
partial redemption by the Company of the Securities of any series, or any Tranche thereof,
resulting in delisting of such Securities from any national exchange;

     (h) the obligation or obligations, if any, of the Company to redeem or purchase the
Securities of such series, or any Tranche thereof, pursuant to any sinking fund or other
mandatory redemption provisions or at the option of a Holder thereof and the period or
periods within which or the date or dates on which, the price or prices at which and the
terms and conditions upon which such Securities shall be redeemed or purchased, in whole or
in part, pursuant to such obligation, and applicable exceptions to the requirements of
Section 404 in the case of mandatory redemption or redemption at the option of the Holder;

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

     (j) the currency or currencies, including composite currencies, in which payment of the
principal of and premium, if any, and interest, if any, on the Securities of such series, or
any Tranche thereof, shall be payable (if other than in Dollars);

     (k) if the principal of or premium, if any, or interest, if any, on the Securities of
such series, or any Tranche thereof, are to be payable, at the election of the Company or a
Holder thereof, in a coin or currency other than that in which the Securities are stated to
be payable, the period or periods within which, and the terms and conditions upon
which, such election may be made;

15

 

     (l) if the principal of or premium, if any, or interest, if any, on the Securities of
such series, or any Tranche thereof, are to be payable, or are to be payable at the election
of the Company or a Holder thereof, in securities or other property, the type and amount of
such securities or other property, or the formula or other method or other means by which
such amount shall be determined, and the period or periods within which, and the terms and
conditions upon which, any such election may be made;

     (m) if the amount payable in respect of principal of or premium, if any, or interest,
if any, on the Securities of such series, or any Tranche thereof, may be determined with
reference to an index or other fact or event ascertainable outside of this Indenture, the
manner in which such amounts shall be determined to the extent not established pursuant to
clause (e) of this paragraph;

     (n) if other than the principal amount thereof, the portion of the principal amount of
Securities of such series, or any Tranche thereof, which shall be payable upon declaration
of acceleration of the Maturity thereof pursuant to Section 802;

     (o) any Events of Default, in addition to those specified in Section 801, with respect
to the Securities of such series, and any covenants of the Company for the benefit of the
Holders of the Securities of such series, or any Tranche thereof, in addition to those set
forth in Article Six;

     (p) the terms, if any, pursuant to which the Securities of such series, or any Tranche
thereof, may be converted into or exchanged for shares of capital stock or other securities
of the Company or any other Person;

     (q) the obligations or instruments, if any, which shall be considered to be Eligible
Obligations in respect of the Securities of such series, or any Tranche thereof, denominated
in a currency other than Dollars or in a composite currency, and any additional or
alternative provisions for the reinstatement of the Company’s indebtedness in respect of
such Securities after the satisfaction and discharge thereof as provided in Section 701;

     (r) if the Securities of such series, or any Tranche thereof, are to be issued in
global form, (1) any limitations on the rights of the Holder or Holders of such Securities
to transfer or exchange the same or to obtain the registration of transfer thereof, (2) any
limitations on the rights of the Holder or Holders thereof to obtain certificates therefor
in definitive form in lieu of temporary form and (3) any and all other matters incidental to
such Securities;

     (s) if the Securities of such series, or any Tranche thereof, are to be issuable as
bearer securities, any and all matters incidental thereto which are not specifically
addressed in a supplemental indenture as contemplated by clause (g) of Section 1201;

16

 

     (t) to the extent not established pursuant to clause (r) of this paragraph, any
limitations on the rights of the Holders of the Securities of such series, or any Tranche
thereof, to transfer or exchange such Securities or to obtain the registration of transfer
thereof; and if a service charge will be made for the registration of transfer or exchange
of Securities of such series, or any Tranche thereof, the amount or terms thereof;

     (u) any exceptions to Section 113, or variation in the definition of Business Day, with
respect to the Securities of such series, or any Tranche thereof; and

     (v) any other terms of the Securities of such series, or any Tranche thereof, not
inconsistent with the provisions of this Indenture.

     With respect to Securities of a series subject to a Periodic Offering, the indenture
supplemental hereto or the Board Resolution which establishes such series, or the Officer’s
Certificate pursuant to such supplemental indenture or Board Resolution, as the case may be, may
provide general terms or parameters for Securities of such series and provide either that the
specific terms of Securities of such series, or any Tranche thereof, shall be specified in a
Company Order or that such terms shall be determined by the Company or its agents in accordance
with procedures specified in a Company Order as contemplated by clause (b) of Section 303.

SECTION 302. Denominations

     Unless otherwise provided as contemplated by Section 301 with respect to any series of
Securities, or any Tranche thereof, the Securities of each series shall be issuable in
denominations of $1,000 and any integral multiple thereof.

SECTION 303. Execution, Authentication, Delivery and Dating

     Unless otherwise provided as contemplated by Section 301 with respect to any series of
Securities, or any Tranche thereof, the Securities shall be executed on behalf of the Company by an
Authorized Officer and may have the corporate seal of the Company affixed thereto or reproduced
thereon and attested by any other Authorized Officer. The signature of any or all of these
officers on the Securities may be manual or facsimile.

     Securities bearing the manual or facsimile signatures of individuals who were at the time of
execution Authorized Officers of the Company shall bind the Company, notwithstanding that such
individuals or any of them have ceased to hold such offices prior to the authentication and
delivery of such Securities or did not hold such offices at the date of such Securities.

     The Trustee shall authenticate and deliver Securities of a series, for original issue, at one
time or from time to time in accordance with the Company Order referred to below, upon receipt by
the Trustee of:

     (a) the instrument or instruments establishing the form or forms and terms of such
series, as provided in Sections 201 and 301;

17

 

     (b) a Company Order requesting the authentication and delivery of such Securities and,
to the extent that the terms of such Securities shall not have been established in an
indenture supplemental hereto or in a Board Resolution, or in an Officer’s Certificate
pursuant to a supplemental indenture or Board Resolution, all as contemplated by Sections
201 and 301, either (1) establishing such terms or (2) in the case of Securities of a series
subject to a Periodic Offering, specifying procedures, acceptable to the Trustee, by which
such terms are to be established (which procedures may provide, to the extent acceptable to
the Trustee, for authentication and delivery pursuant to oral or electronic instructions
from the Company or any agent or agents thereof, which oral instructions are to be promptly
confirmed electronically or in writing), in either case in accordance with the instrument or
instruments delivered pursuant to clause (a) above;

     (c) the Securities of such series, executed on behalf of the Company by an Authorized
Officer;

     (d) an Opinion of Counsel to the effect that:

     (1) the form or forms of such Securities have been duly authorized by the
Company and have been established in conformity with the provisions of this
Indenture;

     (2) the terms of such Securities have been duly authorized by the Company and
have been established in conformity with the provisions of this Indenture; and

     (3) such Securities, when authenticated and delivered by the Trustee and issued
and delivered by the Company in the manner and subject to any conditions specified
in such Opinion of Counsel, will have been duly issued under this Indenture and will
constitute valid and legally binding obligations of the Company, entitled to the
benefits provided by this Indenture, and enforceable in accordance with their terms,
subject, as to enforcement, to laws relating to or affecting generally the
enforcement of creditors’ rights, including, without limitation, bankruptcy and
insolvency laws and to general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law);

provided, however, that, with respect to Securities of a series subject to a Periodic Offering, the
Trustee shall be entitled to receive such Opinion of Counsel only once at or prior to the time of
the first authentication of such Securities (provided that such Opinion of Counsel addresses the
authentication and delivery of all Securities of such series) and that in lieu of the opinions
described in clauses (2) and (3) above Counsel may opine that:

          (x) when the terms of such Securities shall have been established pursuant to a Company
Order or Orders or pursuant to such procedures (acceptable to the Trustee) as may be
specified from time to time by a Company Order or Orders, all as contemplated by and in
accordance with the instrument or instruments delivered pursuant to clause (a)
above, such terms will have been duly authorized by the Company and will have been
established in conformity with the provisions of this Indenture; and

18

 

          (y) such Securities, when authenticated and delivered by the Trustee in accordance with
this Indenture and the Company Order or Orders or specified procedures referred to in
paragraph (x) above and issued and delivered by the Company in the manner and subject to any
conditions specified in such Opinion of Counsel, will have been duly issued under this
Indenture and will constitute valid and legally binding obligations of the Company, entitled
to the benefits provided by the Indenture, and enforceable in accordance with their terms,
subject, as to enforcement, to laws relating to or affecting generally the enforcement of
creditors’ rights, including, without limitation, bankruptcy and insolvency laws and to
general principles of equity (regardless of whether such enforceability is considered in a
proceeding in equity or at law).

     With respect to Securities of a series subject to a Periodic Offering, the Trustee may
conclusively rely, as to the authorization by the Company of any of such Securities, the form and
terms thereof and the legality, validity, binding effect and enforceability thereof, upon the
Opinion of Counsel and other documents delivered pursuant to Sections 201 and 301 and this Section,
as applicable, at or prior to the time of the first authentication of Securities of such series
unless and until such opinion or other documents have been superseded or revoked or expire by their
terms. In connection with the authentication and delivery of Securities of a series subject to a
Periodic Offering, the Trustee shall be entitled to assume that the Company’s instructions to
authenticate and deliver such Securities do not violate any rules, regulations or orders of any
Governmental Authority having jurisdiction over the Company.

     If the form or terms of the Securities of any series have been established by or pursuant to a
Board Resolution or an Officer’s Certificate as permitted by Sections 201 or 301, the Trustee shall
not be required to authenticate such Securities if the issuance of such Securities pursuant to this
Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this
Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee.

     Unless otherwise specified as contemplated by Section 301 with respect to any series of
Securities, or any Tranche thereof, each Security shall be dated the date of its authentication.

     Unless otherwise specified as contemplated by Section 301 with respect to any series of
Securities, or any Tranche thereof, no Security shall be entitled to any benefit under this
Indenture or be valid or obligatory for any purpose unless there appears on such Security a
certificate of authentication substantially in the form provided for herein executed by the Trustee
or its agent by manual signature, and such certificate upon any Security shall be conclusive
evidence, and the only evidence, that such Security has been duly authenticated and delivered
hereunder and is entitled to the benefits of this Indenture. Notwithstanding the foregoing, if any
Security shall have been authenticated and delivered hereunder to the Company, or any Person acting
on its behalf, but shall never have been issued and sold by the Company, and the Company shall
deliver such Security to the Security Registrar for cancellation as provided in Section 309
together with a written statement (which need not comply with Section 102 and need not be
accompanied by an Officer’s Certificate and an Opinion of Counsel) stating that such Security has
never been issued and sold by the Company, for all purposes of this Indenture such
Security shall be deemed never to have been authenticated and delivered hereunder and shall
never be entitled to the benefits hereof.

19

 

SECTION 304. Temporary Securities

     Pending the preparation of definitive Securities of any series, or any Tranche thereof, the
Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary
Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any
authorized denomination, substantially of the tenor of the definitive Securities in lieu of which
they are issued, with such appropriate insertions, omissions, substitutions and other variations as
the officers executing such Securities may determine, as evidenced by their execution of such
Securities; provided, however, that temporary Securities need not recite specific redemption,
sinking fund, conversion or exchange provisions.

     Unless otherwise specified as contemplated by Section 301 with respect to the Securities of
any series, or any Tranche thereof, after the preparation of definitive Securities of such series
or Tranche, the temporary Securities of such series or Tranche shall be exchangeable, without
charge to the Holder thereof, for definitive Securities of such series or Tranche upon surrender of
such temporary Securities at the office or agency of the Company maintained pursuant to Section 602
in a Place of Payment for such Securities. Upon such surrender of temporary Securities, the
Company shall, except as aforesaid, execute and the Trustee shall authenticate and deliver in
exchange therefor definitive Securities of the same series and Tranche, of authorized denominations
and of like tenor and aggregate principal amount.

     Until exchanged in full as hereinabove provided, temporary Securities shall in all respects be
entitled to the same benefits under this Indenture as definitive Securities of the same series and
Tranche and of like tenor authenticated and delivered hereunder.

SECTION 305. Registration, Registration of Transfer and Exchange

     The Company shall cause to be kept in each office designated pursuant to Section 602, with
respect to the Securities of each series or any Tranche thereof, a register (all registers kept in
accordance with this Section being collectively referred to as the “Security Register”) in which,
subject to such reasonable regulations as it may prescribe, the Company shall provide for the
registration of Securities of such series or Tranche and the registration of transfer thereof. The
Company shall designate one Person to maintain the Security Register for the Securities of each
series on a consolidated basis, and such Person is referred to herein, with respect to such series,
as the “Security Registrar.” Anything herein to the contrary notwithstanding, the Company may
designate one or more of its offices as an office in which a register with respect to the
Securities of one or more series, or any Tranche or Tranches thereof, shall be maintained, and the
Company may designate itself the Security Registrar with respect to one or more of such series.
The Security Register shall be open for inspection by the Trustee and the Company at all reasonable
times.

     Except as otherwise specified as contemplated by Section 301 with respect to the Securities of
any series, or any Tranche thereof, upon surrender for registration of transfer of any Security of
such series or Tranche at the office or agency of the Company maintained pursuant to
Section 602 in a Place of Payment for such series or Tranche, the Company shall execute, and
the Trustee shall authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Securities of the same series and Tranche, of authorized denominations
and of like tenor and aggregate principal amount.

20

 

     Except as otherwise specified as contemplated by Section 301 with respect to the Securities of
any series, or any Tranche thereof, any Security of such series or Tranche may be exchanged at the
option of the Holder, for one or more new Securities of the same series and Tranche, of authorized
denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to
be exchanged at any such office or agency. Whenever any Securities are so surrendered for
exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities
which the Holder making the exchange is entitled to receive.

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

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

     Unless otherwise specified as contemplated by Section 301 with respect to Securities of any
series, or any Tranche thereof, no service charge shall be made for any registration of transfer or
exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection with any registration of transfer or
exchange of Securities, other than exchanges pursuant to Section 304, 406 or 1206 not involving any
transfer.

     The Company shall not be required to execute or to provide for the registration of transfer of
or the exchange of (a) Securities of any series, or any Tranche thereof, during a period of 15 days
immediately preceding the date notice is to be given identifying the serial numbers of the
Securities of such series or Tranche called for redemption or (b) any Security so selected for
redemption in whole or in part, except the unredeemed portion of any Security being redeemed in
part.

SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities

     If any mutilated Security is surrendered to the Trustee, the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and
Tranche, and of like tenor and principal amount and bearing a number not contemporaneously
outstanding.

21

 

     If there shall be delivered to the Company and the Trustee (a) evidence to their satisfaction
of the ownership of and the destruction, loss or theft of any Security and (b) such
security or indemnity as may be reasonably required by them to save each of them and any agent
of either of them harmless, then, in the absence of notice to the Company or the Trustee that such
Security is held by a Person purporting to be the owner of such Security, the Company shall execute
and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen
Security, a new Security of the same series and Tranche, and of like tenor and principal amount and
bearing a number not contemporaneously outstanding.

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

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

     Every new Security of any series issued pursuant to this Section in lieu of any destroyed,
lost or stolen Security shall constitute an original additional contractual obligation of the
Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by
anyone other than the Holder of such new Security, and any such new Security shall be entitled to
all the benefits of this Indenture equally and proportionately with any and all other Securities of
such series duly issued hereunder.

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

SECTION 307. Payment of Interest; Interest Rights Preserved

     Unless otherwise specified as contemplated by Section 301 with respect to the Securities of
any series, or any Tranche thereof, interest on any Security which is payable, and is punctually
paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name
that Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest.

     Any interest on any Security of any series which is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the Holder on the related Regular Record Date by virtue of having
been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in clause (a) or (b) below:

22

 

     (a) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on a date (herein called a “Special Record Date”) for
the payment of such Defaulted Interest, which shall be fixed in the following manner. The
Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to
be paid on each Security of such series and the date of the
proposed payment, and at the same time the Company shall deposit with the Trustee an
amount of money equal to the aggregate amount proposed to be paid in respect of such
Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit
prior to the date of the proposed payment, such money when deposited to be held in trust for
the benefit of the Persons entitled to such Defaulted Interest as in this clause provided.
Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted
Interest which shall be not more than 15 days and not less than 10 days prior to the date of
the proposed payment and not less than 10 days after the receipt by the Trustee of the
notice of the proposed payment. The Trustee shall promptly notify the Company of such
Special Record Date and, in the name and at the expense of the Company, shall promptly cause
notice of the proposed payment of such Defaulted Interest and the Special Record Date
therefor to be mailed, first-class postage prepaid, to each Holder of Securities of such
series at the address of such Holder as it appears in the Security Register, not less than
10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted
Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest
shall be paid to the Persons in whose names the Securities of such series (or their
respective Predecessor Securities) are registered at the close of business on such Special
Record Date.

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

     Subject to the foregoing provisions of this Section and Section 305, each Security delivered
under this Indenture upon registration of transfer of or in exchange for or in lieu of any other
Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried
by such other Security.

SECTION 308. Persons Deemed Owners

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

23

 

SECTION 309. Cancellation by Security Registrar

     All Securities surrendered for payment, redemption, registration of transfer or exchange
shall, if surrendered to any Person other than the Security Registrar, be delivered to the Security
Registrar and, if not theretofore canceled, shall be promptly canceled by the Security Registrar.
The Company may at any time deliver to the Security Registrar for cancellation any Securities
previously authenticated and delivered hereunder which the Company may have acquired in any
manner whatsoever or which the Company shall not have issued and sold, and all Securities so
delivered shall be promptly canceled by the Security Registrar. No Securities shall be
authenticated in lieu of or in exchange for any Securities canceled as provided in this Section,
except as expressly permitted by this Indenture. All canceled Securities held by the Security
Registrar shall be disposed of in accordance with a Company Order delivered to the Security
Registrar and the Trustee, and the Security Registrar shall promptly deliver a certificate of
disposition to the Trustee and the Company unless, by a Company Order, similarly delivered, the
Company shall direct that canceled Securities be returned to it. The Security Registrar shall
promptly deliver evidence of any cancellation of a Security in accordance with this Section 309 to
the Trustee and the Company.

SECTION 310. Computation of Interest

     Except as otherwise specified as contemplated by Section 301 for Securities of any series, or
any Tranche thereof, interest on the Securities of each series shall be computed on the basis of a
360-day year consisting of twelve 30-day months and on the basis of the actual number of days
elapsed within any month in relation to the deemed 30 days of such month.

SECTION 311. Payment to Be in Proper Currency

     In the case of the Securities of any series, or any Tranche thereof, denominated in any
currency other than Dollars or in a composite currency (the “Required Currency”), except as
otherwise specified with respect to such Securities as contemplated by Section 301, the obligation
of the Company to make any payment of the principal thereof, or the premium, if any, or interest,
if any, thereon, shall not be discharged or satisfied by any tender by the Company, or recovery by
the Trustee, in any currency other than the Required Currency, except to the extent that such
tender or recovery shall result in the Trustee timely holding the full amount of the Required
Currency then due and payable. If any such tender or recovery is in a currency other than the
Required Currency, the Trustee may take such actions as it considers appropriate to exchange such
currency for the Required Currency. The costs and risks of any such exchange, including without
limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company, the
Company shall remain fully liable for any shortfall or delinquency in the full amount of Required
Currency then due and payable, and in no circumstances shall the Trustee be liable therefor except
in the case of its negligence or willful misconduct.

ARTICLE FOUR

REDEMPTION OF SECURITIES

SECTION 401. Applicability of Article

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

24

 

SECTION 402. Election to Redeem; Notice to Trustee

     The election of the Company to redeem any Securities shall be evidenced by a Board Resolution
or an Officer’s Certificate. The Company shall, at least 45 days prior to the Redemption Date
fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the
Trustee in writing of such Redemption Date and of the principal amount of such Securities to be
redeemed. In the case of any redemption of Securities (a) prior to the expiration of any
restriction on such redemption provided in the terms of such Securities or elsewhere in this
Indenture or (b) pursuant to an election of the Company which is subject to a condition specified
in the terms of such Securities, the Company shall furnish the Trustee with an Officer’s
Certificate evidencing compliance with such restriction or condition.

SECTION 403. Selection of Securities to Be Redeemed

     If less than all the Securities of any series, or any Tranche thereof, are to be redeemed, the
particular Securities to be redeemed shall be selected by the Security Registrar from the
Outstanding Securities of such series or Tranche not previously called for redemption, by such
method as shall be provided for any particular series or Tranche, or, in the absence of any such
provision, by such method of random selection as the Security Registrar shall deem fair and
appropriate and which may, in any case, provide for the selection for redemption of portions (equal
to the minimum authorized denomination for Securities of such series or Tranche or any integral
multiple thereof) of the principal amount of Securities of such series or Tranche of a denomination
larger than the minimum authorized denomination for Securities of such series or Tranche; provided,
however, that if, as indicated in an Officer’s Certificate, the Company shall have offered to
purchase all or any principal amount of the Securities then Outstanding of any series, or any
Tranche thereof, and less than all of such Securities as to which such offer was made shall have
been tendered to the Company for such purchase, the Security Registrar, if so directed by Company
Order, shall select for redemption all or any principal amount of such Securities which have not
been so tendered.

     The Security Registrar shall promptly notify the Company and the Trustee in writing of the
Securities selected for redemption and, in the case of any Securities selected to be redeemed in
part, the principal amount thereof to be redeemed.

     For all purposes of this Indenture, unless the context otherwise requires, all provisions
relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to
be redeemed only in part, to the portion of the principal amount of such Securities which has been
or is to be redeemed.

SECTION 404. Notice of Redemption

     Notice of redemption shall be given in the manner provided in Section 106 to the Holders of
the Securities to be redeemed not less than 30 nor more than 60 days prior to the Redemption Date.

     All notices of redemption shall state:

25

 

     (a) the Redemption Date,

     (b) the Redemption Price,

     (c) if less than all the Securities of any series or Tranche are to be redeemed, the
identification of the particular Securities to be redeemed and the portion of the principal
amount of any Security to be redeemed in part,

     (d) that on the Redemption Date the Redemption Price, together with accrued interest,
if any, to the Redemption Date, will become due and payable upon each such Security to be
redeemed and, if applicable, that interest thereon will cease to accrue on and after said
date,

     (e) the place or places where such Securities are to be surrendered for payment of the
Redemption Price and accrued interest, if any, unless it shall have been specified as
contemplated by Section 301 with respect to such Securities that such surrender shall not be
required,

     (f) that the redemption is for a sinking or other fund, if such is the case, and

     (g) such other matters as the Company shall deem desirable or appropriate.

     Unless otherwise specified with respect to any Securities in accordance with Section 301, with
respect to any notice of redemption of Securities at the election of the Company, unless, upon the
giving of such notice, such Securities shall be deemed to have been paid in accordance with Section
701, such notice may state that such redemption shall be conditional upon the receipt by the Paying
Agent or Agents for such Securities, on or prior to the date fixed for such redemption, of money
sufficient to pay the principal of and premium, if any, and interest, if any, on such Securities
and that if such money shall not have been so received such notice shall be of no force or effect
and the Company shall not be required to redeem such Securities. In the event that such notice of
redemption contains such a condition and such money is not so received, the redemption shall not be
made and within a reasonable time thereafter notice shall be given, in the manner in which the
notice of redemption was given, that such money was not so received and such redemption was not
required to be made, and the Paying Agent or Agents for the Securities otherwise to have been
redeemed shall promptly return to the Holders thereof any of such Securities which had been
surrendered for payment upon such redemption.

     Notice of redemption of Securities to be redeemed at the election of the Company, and any
notice of non-satisfaction of a condition for redemption as aforesaid, shall be given by the
Company or, at the Company’s request, by the Security Registrar in the name and at the expense of
the Company. Notice of mandatory redemption of Securities shall be given by the Security Registrar
in the name and at the expense of the Company.

26

 

SECTION 405. Securities Payable on Redemption Date

     Notice of redemption having been given as aforesaid, and the conditions, if any, set forth in
such notice having been satisfied, the Securities or portions thereof so to be redeemed shall, on
the Redemption Date, become due and payable at the Redemption Price therein specified, and
from and after such date (unless, in the case of an unconditional notice of redemption, the Company
shall default in the payment of the Redemption Price and accrued interest, if any) such Securities
or portions thereof, if interest-bearing, shall cease to bear interest. Upon surrender of any such
Security for redemption in accordance with such notice, such Security or portion thereof shall be
paid by the Company at the Redemption Price, together with accrued interest, if any, to the
Redemption Date; provided, however, that no such surrender shall be a condition to such payment if
so specified as contemplated by Section 301 with respect to such Security; and provided, further,
that except as otherwise specified as contemplated by Section 301 with respect to such Security,
any installment of interest on any Security the Stated Maturity of which installment is on or prior
to the Redemption Date shall be payable to the Holder of such Security, or one or more Predecessor
Securities, registered as such at the close of business on the related Regular Record Date
according to the terms of such Security and subject to the provisions of Section 307.

SECTION 406. Securities Redeemed in Part

     Upon the surrender of any Security which is to be redeemed only in part at a Place of Payment
therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the
Holder thereof or such Holder’s attorney duly authorized in writing), the Company shall execute,
and the Trustee shall authenticate and deliver to the Holder of such Security, without service
charge, a new Security or Securities of the same series and Tranche, of any authorized denomination
requested by such Holder and of like tenor and in aggregate principal amount equal to and in
exchange for the unredeemed portion of the principal of the Security so surrendered.

ARTICLE FIVE

SINKING FUNDS

SECTION 501. Applicability of Article

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

     The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series, or any Tranche thereof, is herein referred to as a “mandatory sinking fund payment”, and
any payment in excess of such minimum amount provided for by the terms of Securities of any series,
or any Tranche thereof, is herein referred to as an “optional sinking fund payment”. If provided
for by the terms of Securities of any series, or any Tranche thereof, the cash amount of any
sinking fund payment may be subject to reduction as provided in Section 502. Each sinking fund
payment shall be applied to the redemption of Securities of the series or Tranche in respect of
which it was made as provided for by the terms of such Securities.

27

 

SECTION 502. Satisfaction of Sinking Fund Payments with Securities

     The Company (a) may deliver to the Trustee Outstanding Securities (other than any previously
called for redemption) of a series or Tranche in respect of which a mandatory sinking fund payment
is to be made and (b) may apply as a credit Securities of such series or Tranche which have been
(1) redeemed either at the election of the Company pursuant to the terms of such Securities or
through the application of permitted optional sinking fund payments pursuant to the terms of such
Securities or (2) repurchased by the Company in the open market, by tender offer or otherwise, in
each case in satisfaction of all or any part of such mandatory sinking fund payment; provided,
however, that no Securities shall be applied in satisfaction of a mandatory sinking fund payment if
such Securities shall have been previously so applied. Securities so applied shall be received and
credited for such purpose by the Trustee at the Redemption Price specified in such Securities for
redemption through operation of the sinking fund and the amount of such mandatory sinking fund
payment shall be reduced accordingly.

SECTION 503. Redemption of Securities for Sinking Fund

     Not less than 45 days prior to each sinking fund payment date for the Securities of any
series, or any Tranche thereof, the Company shall deliver to the Trustee an Officer’s Certificate
specifying:

     (a) the amount of the next succeeding mandatory sinking fund payment for such series or
Tranche;

     (b) the amount, if any, of the optional sinking fund payment to be made together with
such mandatory sinking fund payment;

     (c) the aggregate sinking fund payment;

     (d) the portion, if any, of such aggregate sinking fund payment which is to be
satisfied by the payment of cash;

     (e) the portion, if any, of such aggregate sinking fund payment which is to be
satisfied by delivering and crediting Securities of such series or Tranche pursuant to
Section 502 and stating the basis for such credit and that such Securities have not
previously been so credited, and the Company shall also deliver to the Trustee any
Securities to be so delivered.

     If the Company shall not deliver such Officer’s Certificate, the next succeeding sinking fund
payment for such series or Tranche shall be made entirely in cash in the amount of the mandatory
sinking fund payment. Not less than 40 days before each such sinking fund payment date the Trustee
shall select the Securities to be redeemed upon such sinking fund payment date in the manner
specified in Section 403 and cause notice of the redemption thereof to be given in the name of and
at the expense of the Company in the manner provided in Section 404. Such notice having been duly
given, the redemption of such Securities shall be made upon the terms and in the manner stated in
Sections 405 and 406.

28

 

ARTICLE SIX

COVENANTS

SECTION 601. Payment of Principal, Premium and Interest

     The Company shall pay the principal of and premium, if any, and interest, if any, on the
Securities of each series in accordance with the terms of such Securities and this Indenture.

SECTION 602. Maintenance of Office or Agency

     The Company shall maintain in each Place of Payment for the Securities of each series, or any
Tranche thereof, an office or agency where payment of such Securities shall be made, where the
registration of transfer or exchange of such Securities may be effected and where notices and
demands to or upon the Company in respect of such 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 each such office or agency and prompt notice to the Holders of any such change in the
manner specified in Section 106. If at any time the Company shall fail to maintain any such
required office or agency in respect of Securities of any series, or any Tranche thereof, or shall
fail to furnish the Trustee with the address thereof, payment of such Securities shall be made,
registration of transfer or exchange thereof may be effected and notices and demands in respect
thereof may be served at the Corporate Trust Office of the Trustee, and the Company hereby appoints
the Trustee as its agent for all such purposes in any such event.

     The Company may also from time to time designate one or more other offices or agencies with
respect to the Securities of one or more series, or any Tranche thereof, for any or all of the
foregoing purposes and may from time to time rescind such designations; provided, however, that,
unless otherwise specified as contemplated by Section 301 with respect to the Securities of such
series or Tranche, no such designation or rescission shall in any manner relieve the Company of its
obligation to maintain an office or agency for such purposes in each Place of Payment for such
Securities in accordance with the requirements set forth above. The Company shall give prompt
written notice to the Trustee, and prompt notice to the Holders in the manner specified in Section
106, of any such designation or rescission and of any change in the location of any such other
office or agency.

     Anything herein to the contrary notwithstanding, any office or agency required by this Section
may be maintained at an office of the Company, in which event the Company shall perform all
functions to be performed at such office or agency.

SECTION 603. Money for Securities Payments to Be Held in Trust

     If the Company shall at any time act as its own Paying Agent with respect to the Securities of
any series, or any Tranche thereof, it shall, on or before each due date of the principal of and
premium, if any, and interest, if any, on any of such Securities, segregate and hold in trust for
the benefit of the Persons entitled thereto a sum sufficient to pay the principal and premium or
interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as
herein provided. The Company shall promptly notify the Trustee of any
failure by the Company (or any other obligor on such Securities) to make any payment of
principal of or premium, if any, or interest, if any, on such Securities.

29

 

     Whenever the Company shall have one or more Paying Agents for the Securities of any series, or
any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any,
and interest, if any, on such Securities, deposit with such Paying Agents sums sufficient (without
duplication) to pay the principal and premium or interest so becoming due, such sums to be held in
trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless
such Paying Agent is the Trustee) the Company shall promptly notify the Trustee of any failure by
it so to act.

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

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

     (b) give the Trustee notice of any failure by the Company (or any other obligor upon
such Securities) to make any payment of principal of or premium, if any, or interest, if
any, on such Securities; and

     (c) at any time during the continuance of any such failure, upon the written request of
the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent and
furnish to the Trustee such information as it possesses regarding the names and addresses of
the Persons entitled to such sums.

     The Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the
Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the
Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying
Agent and, if so stated in a Company Order delivered to the Trustee, in accordance with the
provisions of Article Seven; and, upon such payment by any Paying Agent to the Trustee, such Paying
Agent shall be released from all further liability with respect to such money.

     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of and premium, if any, or interest, if any, on any Security
and remaining unclaimed for two years after such principal and premium, if any, or interest, if
any, has become due and payable shall be paid to the Company on Company Request, or, if then held
by the Company, shall be discharged from such trust; and, upon such payment or discharge, the
Holder of such Security shall, as an unsecured general creditor and not as a Holder of an
Outstanding Security, look only to the Company for payment of the amount so due and payable and
remaining unpaid, 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 payment to the Company, may at the expense of the Company cause to be mailed, on one occasion
only, notice to such Holder 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 mailing, any unclaimed balance
of such money then remaining will be paid to the Company.

30

 

SECTION 604. Corporate Existence

     Subject to the rights of the Company under Article Eleven, the Company shall do or cause to be
done all things necessary to preserve and keep in full force and effect its corporate existence.

SECTION 605. Maintenance of Properties

     The Company shall cause (or, with respect to property owned in common with others, make
reasonable effort to cause) all its properties used or useful in the conduct of its business to be
maintained and kept in good condition, repair and working order and shall cause (or, with respect
to property owned in common with others, make reasonable effort to cause) to be made all necessary
repairs, renewals, replacements, betterments and improvements thereof, all as, in the judgment of
the Company, may be necessary so that the business carried on in connection therewith may be
properly conducted; provided, however, that nothing in this Section shall prevent the Company from
discontinuing, or causing the discontinuance of, the operation and maintenance of any of its
properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of
its business.

SECTION 606. Annual Officer’s Certificate as to Compliance

     Not later than October 1 in each year, commencing October 1, ___, the Company shall deliver
to the Trustee an Officer’s Certificate which need not comply with Section 102, executed by the
principal executive officer, the principal financial officer or the principal accounting officer of
the Company, as to such officer’s knowledge of the Company’s compliance with all conditions and
covenants under this Indenture, such compliance to be determined without regard to any period of
grace or requirement of notice under this Indenture.

SECTION 607. Waiver of Certain Covenants

     The Company may omit in any particular instance to comply with any term, provision or
condition set forth in (a) Section 602 or any additional covenant or restriction specified with
respect to the Securities of any series, or any Tranche thereof, as contemplated by Section 301 if
before the time for such compliance the Holders of at least a majority in aggregate principal
amount of the Outstanding Securities of all series and Tranches with respect to which compliance
with Section 602 or such additional covenant or restriction is to be omitted, considered as one
class, shall, by Act of such Holders, either waive such compliance in such instance or generally
waive compliance with such term, provision or condition and (b) Section 604, 605 or Article Eleven
if before the time for such compliance the Holders of at least a majority in principal amount of
Securities Outstanding under this Indenture shall, by Act of such Holders, either waive such
compliance in such instance or generally waive compliance with such
term, provision or condition; but, in the case of (a) or (b), no such waiver shall extend to
or affect such term, provision or condition except to the extent so expressly waived, and, until
such waiver shall become effective, the obligations of the Company and the duties of the Trustee in
respect of any such term, provision or condition shall remain in full force and effect.

31

 

ARTICLE SEVEN

SATISFACTION AND DISCHARGE

SECTION 701. Satisfaction and Discharge of Securities

     Any Security or Securities, or any portion of the principal amount thereof, shall be deemed to
have been paid for all purposes of this Indenture, and the entire indebtedness of the Company in
respect thereof shall be deemed to have been satisfied and discharged, if there shall have been
irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust:

     (a) money in an amount which shall be sufficient, or

     (b) in the case of a deposit made prior to the Maturity of such Securities or portions
thereof, Eligible Obligations, which shall not contain provisions permitting the redemption
or other prepayment thereof at the option of the issuer thereof, the principal of and the
interest on which when due, without any regard to reinvestment thereof, will provide moneys
which, together with the money, if any, deposited with or held by the Trustee or such Paying
Agent, shall be sufficient, or

     (c) a combination of (a) or (b) which shall be sufficient,

to pay when due the principal of and premium, if any, and interest, if any, due and to become due
on such Securities or portions thereof on or prior to Maturity; provided, however, that in the case
of the provision for payment or redemption of less than all the Securities of any series or
Tranche, such Securities or portions thereof shall have been selected by the Security Registrar as
provided herein and, in the case of a redemption, the notice requisite to the validity of such
redemption shall have been given or irrevocable authority shall have been given by the Company to
the Trustee to give such notice, under arrangements satisfactory to the Trustee; and provided,
further, that the Company shall have delivered to the Trustee and such Paying Agent:

          (x) if such deposit shall have been made prior to the Maturity of such Securities, a
Company Order stating that the money and Eligible Obligations deposited in accordance with
this Section shall be held in trust, as provided in Section 703;

          (y) if Eligible Obligations shall have been deposited, an Opinion of Counsel that the
obligations so deposited constitute Eligible Obligations and do not contain provisions
permitting the redemption or other prepayment at the option of the issuer thereof, and an
opinion of an independent public accountant of nationally recognized standing, selected by
the Company, to the effect that the requirements set forth in clause (b) above have been
satisfied; and

32

 

          (z) if such deposit shall have been made prior to the Maturity of such Securities, an
Officer’s Certificate stating the Company’s intention that, upon delivery of such Officer’s
Certificate, its indebtedness in respect of such Securities or portions thereof will have
been satisfied and discharged as contemplated in this Section.

     Upon the deposit of money or Eligible Obligations, or both, in accordance with this Section,
together with the documents required by clauses (x), (y) and (z) above, the Trustee shall, upon
receipt of a Company Request, acknowledge in writing that the Security or Securities or portions
thereof with respect to which such deposit was made are deemed to have been paid for all purposes
of this Indenture and that the entire indebtedness of the Company in respect thereof has been
satisfied and discharged as contemplated in this Section. In the event that all of the conditions
set forth in the preceding paragraph shall have been satisfied in respect of any Securities or
portions thereof except that, for any reason, the Officer’s Certificate specified in clause (z)
shall not have been delivered, such Securities or portions thereof shall nevertheless be deemed to
have been paid for all purposes of this Indenture, and the Holders of such Securities of portions
thereof shall nevertheless be no longer entitled to the benefits of this Indenture or of any of the
covenants of the Company under Article Six (except the covenants contained in Sections 602, 603 and
604) or any other covenants made in respect of such Securities or portions thereof as contemplated
by Section 301, but the indebtedness of the Company in respect of such Securities or portions
thereof shall not be deemed to have been satisfied and discharged prior to Maturity for any other
purpose, and the Holders of such Securities or portions thereof shall continue to be entitled to
look to the Company for payment of the indebtedness represented thereby; and, upon Company Request,
the Trustee shall acknowledge in writing that such Securities or portions thereof are deemed to
have been paid for all purposes of this Indenture.

     If payment at Stated Maturity of less than all of the Securities of any series, or any Tranche
thereof, is to be provided for in the manner and with the effect provided in this Section, the
Security Registrar shall select such Securities, or portions of principal amount thereof, in the
manner specified by Section 403 for selection for redemption of less than all the Securities of a
series or Tranche.

     In the event that Securities which shall be deemed to have been paid for purposes of this
Indenture, and, if such is the case, in respect of which the Company’s indebtedness shall have been
satisfied and discharged, all as provided in this Section do not mature and are not to be redeemed
within the sixty (60) day period commencing with the date of the deposit of moneys or Eligible
Obligations, as aforesaid, the Company shall, as promptly as practicable, give a notice, in the
same manner as a notice of redemption with respect to such Securities, to the Holders of such
Securities to the effect that such deposit has been made and the effect thereof.

     Notwithstanding that any Securities shall be deemed to have been paid for purposes of this
Indenture, as aforesaid, the obligations of the Company and the Trustee in respect of such
Securities under Sections 304, 305, 306, 403, 404, 406, 503 (as to notice of redemption), 602, 603,
907, 909, 910 and 915 and this Article Seven shall survive.

33

 

     The Company shall pay, and shall indemnify the Trustee or any Paying Agent with which Eligible
Obligations shall have been deposited as provided in this Section against, any tax, fee or other
charge imposed on or assessed against such Eligible Obligations or the principal or interest
received in respect of such Eligible Obligations, including, but not limited to, any such tax
payable by any entity deemed, for tax purposes, to have been created as a result of such deposit.

     Anything herein to the contrary notwithstanding, (a) if, at any time after a Security would be
deemed to have been paid for purposes of this Indenture, and, if such is the case, the Company’s
indebtedness in respect thereof would be deemed to have been satisfied or discharged, pursuant to
this Section (without regard to the provisions of this paragraph), the Trustee or any Paying Agent,
as the case may be, shall be required to return the money or Eligible Obligations, or combination
thereof, deposited with it as aforesaid to the Company or its representative under any applicable
Federal or State bankruptcy, insolvency or other similar law, such Security shall thereupon be
deemed retroactively not to have been paid and any satisfaction and discharge of the Company’s
indebtedness in respect thereof shall retroactively be deemed not to have been effected, and such
Security shall be deemed to remain Outstanding and (b) any satisfaction and discharge of the
Company’s indebtedness in respect of any Security shall be subject to the provisions of the last
paragraph of Section 603.

SECTION 702. Satisfaction and Discharge of Indenture

     This Indenture shall upon Company Request cease to be of further effect (except as hereinafter
expressly provided), and the Trustee, at the expense of the Company, shall execute proper
instruments acknowledging satisfaction and discharge of this Indenture, when

     (a) no Securities remain Outstanding hereunder; and

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

provided, however, that it, in accordance with the last paragraph of Section 701, any Security,
previously deemed to have been paid for purposes of this Indenture, shall be deemed retroactively
not to have been so paid, this Indenture shall thereupon be deemed retroactively not to have been
satisfied and discharged, as aforesaid, and to remain in full force and effect, and the Company
shall execute and deliver such instruments as the Trustee shall reasonably request to evidence and
acknowledge the same.

     Notwithstanding the satisfaction and discharge of this Indenture as aforesaid, the obligations
of the Company and the Trustee under Sections 304, 305, 306, 403, 404, 406, 503 (as to notice of
redemption), 602, 603, 907, 909, 910 and 915 and this Article Seven shall survive.

     Upon satisfaction and discharge of this Indenture as provided in this Section, the Trustee
shall assign, transfer and turn over to the Company, subject to the lien provided by Section 907,
any and all money, securities and other property then held by the Trustee for the benefit of the
Holders of the Securities other than money and Eligible Obligations held by the Trustee pursuant to
Section 703.

34

 

SECTION 703. Application of Trust Money

     Neither the Eligible Obligations nor the money deposited pursuant to Section 701, nor the
principal or interest payments on any such Eligible Obligations, shall be withdrawn or used for any
purpose other than, and such Eligible Obligations and money deposited and the principal and
interest payments on any such Eligible Obligations shall be held in trust for, the payment of the
principal of and premium, if any, and interest, if any, on the Securities or portions of principal
amount thereof in respect of which such deposit was made, all subject, however, to the provisions
of Section 603; provided, however, that, so long as there shall not have occurred and be continuing
an Event of Default, any cash received from such principal or interest payments on such Eligible
Obligations, if not then needed for such purpose, shall, to the extent practicable, be invested in
Eligible Obligations of the type described in clause (b) in the first paragraph of Section 701
maturing at such times and in such amounts as shall be sufficient to pay when due the principal of
and premium, if any, and interest, if any, due and to become due on such Securities or portions
thereof on and prior to the Maturity thereof, and interest earned from such reinvestment shall be
paid over to the Company as received, free and clear of any trust, lien or pledge under this
Indenture except the lien provided by Section 907; and provided, further, that, so long as there
shall not have occurred and be continuing an Event of Default, any moneys held in accordance with
this Section on the Maturity of all such Securities in excess of the amount required to pay the
principal of and premium, if any, and interest, if any, then due on such Securities shall be paid
over to the Company free and clear of any trust, lien or pledge under this Indenture except the
lien provided by Section 907, and provided, further, that if an Event of Default shall have
occurred and be continuing, moneys to be paid over to the Company pursuant to this Section shall be
held until such Event of Default shall have been waived or cured.

ARTICLE EIGHT

EVENTS OF DEFAULT; REMEDIES

SECTION 801. Events of Default

     “Event of Default”, wherever used herein with respect to Securities of any series, means any
one of the following events:

     (a) failure to pay interest, if any, on any Security of such series within 60 days
after the same becomes due and payable; or

     (b) failure to pay the principal of or premium, if any, on any Security of such series
within three Business Days after its Maturity; or

35

 

     (c) failure to perform, or breach of, any covenant or warranty of the Company in this
Indenture (other than a covenant or warranty a default in the performance of which or breach
of which is elsewhere in this Section specifically dealt with or which has expressly been
included in this Indenture solely for the benefit of one or more series of Securities other
than such series) for a period of 60 days after there has been given, by registered or
certified mail, to the Company by the Trustee, or to the Company and the Trustee by the
Holders of at least 33% in principal amount of the Outstanding Securities
of such series, a written notice specifying such default or breach and requiring it to
be remedied and stating that such notice is a “Notice of Default” hereunder, unless the
Trustee, or the Trustee and the Holders of a principal amount of Securities of such series
not less than the principal amount of Securities the Holders of which gave such notice, as
the case may be, shall agree in writing to an extension of such period prior to its
expiration; provided, however, that the Trustee, or the Trustee and the Holders of such
principal amount of Securities of such series, as the case may be, shall be deemed to have
agreed to an extension of such period if corrective action is initiated by the Company
within such period and is being diligently pursued; or

     (d) the entry by a court having jurisdiction in the premises of (1) a decree or order
for relief in respect of the Company in an involuntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or
(2) a decree or order adjudging the Company a bankrupt or insolvent, or approving as
properly filed a petition by one or more Persons other than the Company seeking
reorganization, arrangement, adjustment or composition of or in respect of the Company under
any applicable Federal or State law, or appointing a custodian, receiver, liquidator,
assignee, trustee, sequestrator or other similar official for the Company or for any
substantial part of its property, or ordering the winding up or liquidation of its affairs,
and any such decree or order for relief or any such other decree or order shall have
remained unstayed and in effect for a period of 90 consecutive days; or

     (e) the commencement by the Company of a voluntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or
of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by
it to the entry of a decree or order for relief in respect of the Company in a case or
proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or
other similar law or to the commencement of any bankruptcy or insolvency case or proceeding
against it, or the filing by it of a petition or answer or consent seeking reorganization or
relief under any applicable Federal or State law, or the consent by it to the filing of such
petition or to the appointment of or taking possession by a custodian, receiver, liquidator,
assignee, trustee, sequestrator or similar official of the Company or of any substantial
part of its property, or the making by it of an assignment for the benefit of creditors, or
the admission by it in writing of its inability to pay its debts generally as they become
due, or the authorization of such action by the Board of Directors; or

     (f) any other Event of Default specified with respect to Securities of such series.

SECTION 802. Acceleration of Maturity; Rescission and Annulment

     If an Event of Default shall have occurred and be continuing with respect to Securities of any
series at the time Outstanding, then in every such case the Trustee or the Holders of not less than
33% in principal amount of the Outstanding Securities of such series may declare the principal
amount (or, if any of the Securities of such series are Discount Securities, such portion of the
principal amount of such Securities as may be specified in the terms thereof as contemplated by
Section 301) of all of the Securities of such series to be due and payable
immediately, by a notice in writing to the Company (and to the Trustee if given by Holders),
and upon receipt by the Company of notice of such declaration such principal amount (or specified
amount) shall become immediately due and payable; provided, however, that if an Event of Default
shall have occurred and be continuing with respect to more than one series of Securities, the
Trustee or the Holders of not less than 33% in aggregate principal amount of the Outstanding
Securities of all such series, considered as one class (and not the Holders of the Securities of
any one of such series), may make such declaration of acceleration.

36

 

     At any time after such a declaration of acceleration with respect to Securities of any series
shall have been made and before a judgment or decree for payment of the money due shall have been
obtained by the Trustee as hereinafter in this Article provided, the Event or Events of Default
giving rise to such declaration of acceleration shall, without further act, be deemed to have been
waived, and such declaration and its consequences shall, without further act, be deemed to have
been rescinded and annulled, if

     (a) the Company shall have paid or deposited with the Trustee a sum sufficient to pay

     (1) all overdue interest on all Securities of such series;

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

     (3) to the extent that payment of such interest is lawful, interest upon
overdue interest at the rate or rates prescribed therefor in such Securities;

     (4) all amounts due to the Trustee under Section 907; and

     (b) any other Event or Events of Default with respect to Securities of such series,
other than the non-payment of the principal of Securities of such series which shall have
become due solely by such declaration of acceleration, shall have been cured or waived as
provided in Section 813.

No such rescission shall affect any subsequent Event of Default or impair any right consequent
thereon.

SECTION 803. Collection of Indebtedness and Suits for Enforcement by Trustee

     If an Event of Default described in clause (a) or (b) of Section 801 shall have occurred and
be continuing, the Company shall, upon demand of the Trustee, pay to it, for the benefit of the
Holders of the Securities of the series with respect to which such Event of Default shall have
occurred, the whole amount then due and payable on such Securities for principal and premium, if
any, and interest, if any, and, to the extent permitted by law, interest on premium, if any, and on
any overdue principal and interest, at the rate or rates prescribed therefor in such Securities,
and, in addition thereto, such further amount as shall be sufficient to cover any amounts due to
the Trustee under Section 907.

37

 

     If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its
own name and as trustee of an express trust, may institute a judicial proceeding for the collection
of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may
enforce the same against the Company or any other obligor upon such Securities and collect the
moneys adjudged or decreed to be payable in the manner provided by law out of the property of the
Company or any other obligor upon such Securities, wherever situated.

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

SECTION 804. Trustee May File Proofs of Claim

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

     (a) to file and prove a claim for the whole amount of principal, premium, if any, and
interest, if any, owing and unpaid in respect of the Securities and to file such other
papers or documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for amounts due to the Trustee under Section 907) and of the
Holders allowed in such judicial proceeding, and

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

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Holder 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 amounts due it under Section 907.

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

38

 

SECTION 805. Trustee May Enforce Claims Without Possession of Securities

     All rights of action and claims under this Indenture or the Securities may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or the production thereof
in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be
brought in its own name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel, be for the ratable benefit of the Holders in respect of which
such judgment has been recovered.

SECTION 806. Application of Money Collected

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

     First: To the payment of all amounts due the Trustee under Section 907;

     Second: To the payment of the amounts then due and unpaid upon the Securities for
principal of and premium, if any, and interest, if any, in respect of which or for the
benefit of which such money has been collected, ratably, without preference or priority of
any kind, according to the amounts due and payable on such Securities for principal,
premium, if any, and interest, if any, respectively; and

     Third: To the Company.

SECTION 807. Limitation on Suits

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

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

     (b) the Holders of not less than a majority in aggregate principal amount of the
Outstanding Securities of all series in respect of which an Event of Default shall have
occurred and be continuing, considered as one class, shall have made written request to the
Trustee to institute proceedings in respect of such Event of Default in its own name as
Trustee hereunder;

39

 

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

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

     (e) no direction inconsistent with such written request shall have been given to the
Trustee during such 60-day period by the Holders of a majority in aggregate principal amount
of the Outstanding Securities of all series in respect of which an Event of Default shall
have occurred and be continuing, considered as one class;

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

SECTION 808. Unconditional Right of Holders to Receive Principal, Premium and Interest

     Notwithstanding any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the principal of and premium,
if any, and (subject to Section 307) interest, if any, on such Security on the Stated Maturity or
Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and
to institute suit for the enforcement of any such payment, and such rights shall not be impaired
without the consent of such Holder.

SECTION 809. Restoration of Rights and Remedies

     If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding shall have been discontinued or abandoned for any reason,
or shall have been determined adversely to the Trustee or to such Holder, then and in every such
case, subject to any determination in such proceeding, the Company, and Trustee and such Holder
shall be restored severally and respectively to their former positions hereunder and thereafter all
rights and remedies of the Trustee and such Holder shall continue as though no such proceeding had
been instituted.

SECTION 810. Rights and Remedies Cumulative

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

40

 

SECTION 811. Delay or Omission Not Waiver

     No delay or omission of the Trustee or of any Holder to exercise any right or remedy accruing
upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such
Event of Default or an acquiescence therein. Every right and remedy given by this Article or by
law to the Trustee or to the Holders may be exercised from time to time, and as often as may be
deemed expedient, by the Trustee or by the Holders, as the case may be.

SECTION 812. Control by Holders of Securities

     If an Event of Default shall have occurred and be continuing in respect of a series of
Securities, the Holders of a majority in principal amount of the Outstanding Securities of such
series shall have the right to direct the time, method and place of conducting any proceeding for
any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee,
with respect to the Securities of such series; provided, however, that if an Event of Default shall
have occurred and be continuing with respect to more than one series of Securities, the Holders of
a majority in aggregate principal amount of the Outstanding Securities of all such series,
considered as one class, shall have the right to make such direction, and not the Holders of the
Securities of any one of such series; and provided, further, that

     (a) such direction shall not be in conflict with any rule of law or with this
Indenture, and could not involve the Trustee in personal liability in circumstances where
indemnity would not, in the Trustee’s sole discretion, be adequate, and

     (b) the Trustee may take any other action deemed proper by the Trustee which is not
inconsistent with such direction.

SECTION 813. Waiver of Past Defaults

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

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

     (b) in respect of a covenant or provision hereof which under Section 1202 cannot be
modified or amended without the consent of the Holder of each Outstanding Security of such
series affected.

     Upon any such waiver, such default shall cease to exist, and any and all Events 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.

41

 

SECTION 814. Undertaking for Costs

     The Company and the Trustee agree, and each Holder by such Holder’s acceptance of a Security
shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit
of an undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit,
having due regard to the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section shall not apply to any suit instituted by the Company,
to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders,
holding in the aggregate more than 10% in aggregate principal amount of the Outstanding Securities
of all series in respect of which such suit may be brought, considered as one class, or to any suit
instituted by any Holder for the enforcement of the payment of the principal of or premium, if any,
or interest, if any, on any Security on or after the Stated Maturity or Maturities expressed in
such Security (or, in the case of redemption, on or after the Redemption Date).

SECTION 815. Waiver of Stay or Extension Laws

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

ARTICLE NINE

THE TRUSTEE

SECTION 901. Certain Duties and Responsibilities

     (a) Except during the continuance of an Event of Default with respect to Securities of
any series,

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

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

42

 

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

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

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

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

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

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

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

SECTION 902. Notice of Defaults

     The Trustee shall give notice of any default hereunder with respect to the Securities of any
series to the Holders of Securities of such series in the manner and to the extent required to do
so by the Trust Indenture Act, unless such default shall have been cured or waived; provided,
however, that in the case of any default of the character specified in clause (c) of Section 801,
no such notice to Holders shall be given until at least 75 days after the occurrence thereof. For
the purpose of this Section, the term “default” means any event which is, or after notice or lapse
of time, or both, would become, an Event of Default.

43

 

SECTION 903. Certain Rights of Trustee

     Subject to the provisions of Section 901 and to the applicable provisions of the Trust
Indenture Act:

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

     (b) any request or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order, or as otherwise expressly provided herein,
and any resolution of the Board of Directors may be sufficiently evidenced by a Board
Resolution;

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

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

     (e) the Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any Holder pursuant to this
Indenture, unless such Holder shall have offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction;

     (f) the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or
other paper or document, but the Trustee, in its discretion, may make such further inquiry
or investigation into such facts or matters as it may see fit, and, if the Trustee shall
determine to make such further inquiry or investigation, it shall (subject to applicable
legal requirements) be entitled to examine, during normal business hours, the books, records
and premises of the Company, personally or by agent or attorney;

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

44

 

     (h) except as otherwise provided in Section 801(a) or (b), the Trustee shall not be
charged with knowledge of any Event of Default with respect to the Securities of any
series for which it is acting as Trustee unless either (1) a Responsible Officer of the
Trustee shall have actual knowledge of the Event of Default or (2) written notice of such
Event of Default shall have been given to the Trustee by the Company, any other obligor on
such Securities or by any Holder of such Securities.

SECTION 904. Not Responsible for Recitals or Issuance of Securities

     The recitals contained herein and in the Securities (except the Trustee’s certificates of
authentication) shall be taken as the statements of the Company, and neither the Trustee nor any
Authenticating Agent assumes responsibility for their correctness. The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the Securities. Neither
the Trustee nor any Authenticating Agent shall be accountable for the use or application by the
Company of Securities or the proceeds thereof.

SECTION 905. May Hold Securities

     Each of the Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any
other agent of the Company or the Trustee, in its individual or any other capacity, may become the
owner or pledgee of Securities and, subject to Sections 908 and 913, may otherwise deal with the
Company with the same rights it would have if it were not the Trustee, Authenticating Agent, Paying
Agent, Security Registrar or such other agent.

SECTION 906. Money Held in Trust

     Money held by the Trustee in trust hereunder need not be segregated from other funds, except
to the extent required by law. The Trustee shall be under no liability for interest on or
investment of any money received by it hereunder except as expressly provided herein or otherwise
agreed with, and for the sole benefit of, the Company.

SECTION 907. Compensation and Reimbursement

     The Company shall

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

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

45

 

     (c) indemnify the Trustee and hold it harmless from and against, any loss, liability or
expense reasonably incurred by it arising out of or in connection with the acceptance or
administration of the trust or trusts hereunder or the performance of its duties hereunder,
including the costs and expenses of defending itself against any claim or
liability in connection with the exercise or performance of any of its powers or duties
hereunder, except to the extent any such loss, liability or expense may be attributable to
its negligence, willful misconduct or bad faith.

     As security for the performance of the obligations of the Company under this Section, the
Trustee shall have a lien prior to the Securities upon all property and funds held or collected by
the Trustee as such other than property and funds held in trust under Section 703 (except as
otherwise provided in Section 703). “Trustee” for purposes of this Section shall include any
predecessor Trustee; provided, however, that the negligence, willful misconduct or bad faith of any
Trustee hereunder shall not affect the rights of any other Trustee hereunder.

SECTION 908. Disqualification; Conflicting Interests

     If the Trustee shall have or acquire any conflicting interest within the meaning of the Trust
Indenture Act, it shall either eliminate such conflicting interest or resign to the extent, in the
manner and with the effect, and subject to the conditions, provided in the Trust Indenture Act and
this Indenture. For purposes of Section 310(b)(1) of the Trust Indenture Act and to the extent
permitted thereby, the Trustee, in its capacity as trustee in respect of the Securities of any
series, shall not be deemed to have a conflicting interest arising from its capacity as trustee in
respect of the Securities of any other series.

SECTION 909. Corporate Trustee Required; Eligibility

     There shall at all times be a Trustee hereunder which shall be

     (a) a corporation organized and doing business under the laws of the United States, any
State or Territory thereof or the District of Columbia, authorized under such laws to
exercise corporate trust powers, having a combined capital and surplus of at least
$50,000,000 and subject to supervision or examination by Federal or State authority, or

     (b) if and to the extent permitted by the Commission by rule, regulation or order upon
application, a corporation or other Person organized and doing business under the laws of a
foreign government, authorized under such laws to exercise corporate trust powers, having a
combined capital and surplus of at least $50,000,000 or the Dollar equivalent of the
applicable foreign currency and subject to supervision or examination by authority of such
foreign government or a political subdivision thereof substantially equivalent to
supervision or examination applicable to United States institutional trustees, and, in
either case, qualified and eligible under this Article and the Trust Indenture Act. If such
corporation publishes reports of condition at least annually, pursuant to law or to the
requirements of such supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition so
published. If at any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

46

 

SECTION 910. Resignation and Removal; Appointment of Successor

     (a) No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of appointment by the
successor Trustee in accordance with the applicable requirements of Section 911.

     (b) The Trustee may resign at any time with respect to the Securities of one or more
series by giving written notice thereof to the Company. If the instrument of acceptance by
a successor Trustee required by Section 911 shall not have been delivered to the Trustee
within 30 days after the giving of such notice of resignation, the resigning Trustee may
petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.

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

     (d) If at any time:

     (1) the Trustee shall fail to comply with Section 908 after written request
therefor by the Company or by any Holder who has been a bona fide Holder for at
least six months, or

     (2) the Trustee shall cease to be eligible under Section 909 and shall fail to
resign after written request therefor by the Company or by any such Holder, or

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

then, in any such case, (A) the Company by a Board Resolution may remove the Trustee with
respect to all Securities or (B) subject to Section 814, any Holder who has been a bona fide
Holder for at least six months may, on behalf of itself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee with respect to
all Securities and the appointment of a successor Trustee or Trustees.

47

 

     (e) If the Trustee shall resign, be removed or become incapable of acting, or if a
vacancy shall occur in the office of Trustee for any cause (other than as contemplated in
clause (B) in clause (d) of this Section), with respect to the Securities of one or more
series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or
Trustees with respect to the Securities of that or those series (it being understood that
any such successor Trustee may be appointed with respect to the Securities of one or more or
all of such series and that at any time there shall be only one Trustee with respect to the
Securities of any particular series) and shall comply with the applicable requirements of
Section 911. If, within one year after such resignation, removal or incapability, or the
occurrence of such vacancy, a successor Trustee with respect to the
Securities of any series shall be appointed by Act of the Holders of a majority in
principal amount of the Outstanding Securities of such series delivered to the Company and
the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its
acceptance of such appointment in accordance with the applicable requirements of Section
911, become the successor Trustee with respect to the Securities of such series and to that
extent supersede the successor Trustee appointed by the Company. If no successor Trustee
with respect to the Securities of any series shall have been so appointed by the Company or
the Holders and accepted appointment in the manner required by Section 911, any Holder who
has been a bona fide Holder of a Security of such series for at least six months may, on
behalf of itself and all others similarly situated, petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of
such series.

     (f) So long as no event which is, or after notice or lapse of time, or both, would
become, an Event of Default shall have occurred and be continuing, and except with respect
to a Trustee appointed by Act of the Holders of a majority in principal amount of the
Outstanding Securities pursuant to subsection (e) of this Section, if the Company shall have
delivered to the Trustee (1) a Board Resolution appointing a successor Trustee, effective as
of a date specified therein, and (2) an instrument of acceptance of such appointment,
effective as of such date, by such successor Trustee in accordance with Section 911, the
Trustee shall be deemed to have resigned as contemplated in subsection (b) of this Section,
the successor Trustee shall be deemed to have been appointed by the Company pursuant to
subsection (e) of this Section and such appointment shall be deemed to have been accepted as
contemplated in Section 911, all as of such date, and all other provisions of this Section
and Section 911 shall be applicable to such resignation, appointment and acceptance except
to the extent inconsistent with this clause (f).

     (g) The Company shall give notice of each resignation and each removal of the Trustee
with respect to the Securities of any series and each appointment of a successor Trustee
with respect to the Securities of any series by mailing written notice of such event by
first-class mail, postage prepaid, to all Holders of Securities of such series as their
names and addresses appear in the Security Register. Each notice shall include the name of
the successor Trustee with respect to the Securities of such series and the address of its
corporate trust office.

SECTION 911. Acceptance of Appointment by Successor

     (a) In case of the appointment hereunder of a successor Trustee with respect to the
Securities of all series, every such successor Trustee so appointed shall execute,
acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting
such appointment, and thereupon the resignation or removal of the retiring Trustee shall
become effective and such successor Trustee, without any further act, shall become vested
with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request
of the Company or the successor Trustee, such retiring Trustee shall, upon payment of all
sums owed to it, execute and deliver an instrument transferring to such successor Trustee
all the rights, powers and trusts of the retiring Trustee and shall duly
assign, transfer and deliver to such successor Trustee all property and money held by
such retiring Trustee hereunder.

48

 

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

     (c) Upon request of any such successor Trustee, the Company shall execute any
instruments which fully vest in and confirm to such successor Trustee all such rights,
powers and trusts referred to in clause (a) or (b) of this Section, as the case may be.

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

49

 

SECTION 912. Merger, Conversion, Consolidation or Succession to Business

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

SECTION 913. Preferential Collection of Claims Against Company

     If the Trustee shall be or become a creditor of the Company or any other obligor upon the
Securities (other than by reason of a relationship described in Section 311(b) of the Trust
Indenture Act), the Trustee shall be subject to any and all applicable provisions of the Trust
Indenture Act regarding the collection of claims against the Company or such other obligor. For
purposes of Section 311(b) of the Trust Indenture Act:

     (a) the term “cash transaction” means any transaction in which full payment for goods
or securities sold is made within seven days after delivery of the goods or securities in
currency or in checks or other orders drawn upon banks or bankers and payable upon demand;

     (b) the term “self-liquidating paper” means any draft, bill of exchange, acceptance or
obligation which is made, drawn, negotiated or incurred by the Company or such obligor for
the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale
of goods, wares or merchandise and which is secured by documents evidencing title to,
possession of, or a lien upon, the goods, wares or merchandise or the receivables or
proceeds arising from the sale of the goods, wares or merchandise previously constituting
the security, provided the security is received by the Trustee simultaneously with the
creation of the creditor relationship with the Company or such obligor arising from the
making, drawing, negotiating or incurring of the draft, bill of exchange, acceptance or
obligation.

SECTION 914. Co-trustees and Separate Trustees

     At any time or times, for the purpose of meeting the legal requirements of any applicable
jurisdiction, the Company and the Trustee shall have power to appoint, and, upon the written
request of the Trustee or of the Holders of at least 33% in principal amount of the Securities then
Outstanding, the Company shall for such purpose join with the Trustee in the execution and delivery
of all instruments and agreements necessary or proper to appoint, one or more Persons approved by
the Trustee either to act as co-trustee, jointly with the Trustee, or to act as separate trustee,
in either case with such powers as may be provided in the instrument of appointment, and to vest in
such Person or Persons, in the capacity aforesaid, any property, title, right or power deemed
necessary or desirable, subject to the other provisions of this Section. If the Company does not
join in such appointment within 15 days after the receipt by it of a request so to do, or if an
Event of Default shall have occurred and be continuing, the Trustee alone shall have power to make
such appointment.

50

 

     Should any written instrument or instruments from the Company be required by any co-trustee or
separate trustee so appointed to more fully confirm to such co-trustee or separate trustee such
property, title, right or power, any and all such instruments shall, on request, be executed,
acknowledged and delivered by the Company.

     Every co-trustee or separate trustee shall, to the extent permitted by law, but to such extent
only, be appointed subject to the following conditions:

     (a) the Securities shall be authenticated and delivered, and all rights, powers, duties
and obligations hereunder in respect of the custody of securities, cash and other personal
property held by, or required to be deposited or pledged with, the Trustee hereunder, shall
be exercised solely, by the Trustee;

     (b) the rights, powers, duties and obligations hereby conferred or imposed upon the
Trustee in respect of any property covered by such appointment shall be conferred or imposed
upon and exercised or performed either by the Trustee or by the Trustee and such co-trustee
or separate trustee jointly, as shall be provided in the instrument appointing such
co-trustee or separate trustee, except to the extent that under any law of any jurisdiction
in which any particular act is to be performed, the Trustee shall be incompetent or
unqualified to perform such act, in which event such rights, powers, duties and obligations
shall be exercised and performed by such co-trustee or separate trustee;

     (c) the Trustee at any time, by an instrument in writing executed by it, with the
concurrence of the Company, may accept the resignation of or remove any co-trustee or
separate trustee appointed under this Section, and, if an Event of Default shall have
occurred and be continuing, the Trustee shall have power to accept the resignation of, or
remove, any such co-trustee or separate trustee without the concurrence of the Company.
Upon the written request of the Trustee, the Company shall join with the Trustee in the
execution and delivery of all instruments and agreements necessary or proper to effectuate
such resignation or removal. A successor to any co-trustee or separate trustee so resigned
or removed may be appointed in the manner provided in this Section;

     (d) no co-trustee or separate trustee hereunder shall be personally liable by reason of
any act or omission of the Trustee, or any other such trustee hereunder; and

     (e) any Act of Holders delivered to the Trustee shall be deemed to have been delivered
to each such co-trustee and separate trustee.

51

 

SECTION 915. Appointment of Authenticating Agent

     The Trustee may appoint an Authenticating Agent or Agents with respect to the Securities of
one or more series, or any Tranche thereof, which shall be authorized to act on behalf of the
Trustee to authenticate Securities of such series or Tranche issued upon original issuance,
exchange, registration of transfer or partial redemption thereof or pursuant to Section 306, and
Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid
and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference
is made in this Indenture to the authentication and delivery of Securities by the Trustee or the
Trustee’s certificate of authentication, such reference shall be deemed to include authentication
and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating
Agent shall be acceptable to the Company and shall at all times be a corporation
organized and doing business under the laws of the United States, any State or Territory
thereof or the District of Columbia or the Commonwealth of Puerto Rico, authorized under such laws
to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000
and subject to supervision or examination by Federal or State authority. If such Authenticating
Agent publishes reports of condition at least annually, pursuant to law or to the requirements of
said supervising or examining authority, then for the purposes of this Section, the combined
capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. If at any time an
Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section,
such Authenticating Agent shall resign immediately in the manner and with the effect specified in
this Section.

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

     An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee
and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by
giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such
a notice of resignation or upon such a termination, or in case at any time such Authenticating
Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may
appoint a successor Authenticating Agent which shall be acceptable to the Company. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the
rights, powers and duties of its predecessor hereunder, with like effect as if originally named as
an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible
under the provisions of this Section.

     The Trustee agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section, and the Trustee shall be entitled to be
reimbursed for such payments, in accordance with, and subject to the provisions of Section 907.

     The provisions of Sections 308, 904 and 905 shall be applicable to each Authenticating Agent.

52

 

     If an appointment with respect to the Securities of one or more series, or any Tranche
thereof, shall be made pursuant to this Section, the Securities of such series or Tranche may have
endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternate
certificate of authentication substantially in the following form:

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

	 	 	 	 	 	 	 
	 	 	   	, Trustee
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 
	 	 	As Authenticating Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 
	 	 	Authorized Signatory	 	 

     If all of the Securities of a series may not be originally issued at one time, and if the
Trustee does not have an office capable of authenticating Securities upon original issuance located
in a Place of Payment where the Company wishes to have Securities of such series authenticated upon
original issuance, the Trustee, if so requested by the Company in writing (which writing need not
comply with Section 102 and need not be accompanied by an Opinion of Counsel), shall appoint, in
accordance with this Section and in accordance with such procedures as shall be acceptable to the
Trustee, an Authenticating Agent having an office in a Place of Payment designated by the Company
with respect to such series of Securities.

ARTICLE TEN

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

SECTION 1001. Lists of Holders

     Semiannually, not later than March 1 and September 1 in each year, commencing March 1,         ,
and at such other times as the Trustee may request in writing, the Company shall furnish or cause
to be furnished to the Trustee information as to the names and addresses of the Holders, and the
Trustee shall preserve such information and similar information received by it in any other
capacity and afford to the Holders access to information so preserved by it, all to such extent, if
any, and in such manner as shall be required by the Trust Indenture Act; provided, however, that no
such list need be furnished so long as the Trustee shall be the Security Registrar.

SECTION 1002. Reports by Trustee and Company

     Not later than July 15 in each year, commencing July 15,         , the Trustee shall transmit to
the Holders and the Commission a report, dated as of the next preceding May 15, with respect to any
events and other matters described in Section 313(a) of the Trust Indenture Act, in such manner and
to the extent required by the Trust Indenture Act. The Trustee shall transmit to the Holders and
the Commission, and the Company shall file with the Trustee (within 30 days after filing with the
Commission in the case of reports which pursuant to the Trust Indenture Act must be filed with the
Commission and furnished to the Trustee) and transmit to the Holders, such other information,
reports and other documents, if any, at such times and in such manner, as shall be required by the
Trust Indenture Act.

53

 

ARTICLE ELEVEN

CONSOLIDATION, MERGER, CONVEYANCE OR OTHER TRANSFER

SECTION 1101. Company May Consolidate, Etc., Only on Certain Terms

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

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

     (b) immediately after giving effect to such transaction and treating any indebtedness
for borrowed money which becomes an obligation of the Company as a result of such
transaction as having been incurred by the Company at the time of such transaction, no Event
of Default, and no event which, after notice or lapse of time or both, would become an Event
of Default, shall have occurred and be continuing; and

     (c) the Company shall have delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that such consolidation, merger, conveyance, or other
transfer or lease and such supplemental indenture comply with this Article and that all
conditions precedent herein provided for relating to such transactions have been complied
with.

SECTION 1102. Successor Corporation Substituted

     Upon any consolidation by the Company with or merger by the Company into any other corporation
or any conveyance, or other transfer or lease of the properties and assets of the Company
substantially as an entirety in accordance with Section 1101, the successor corporation formed by
such consolidation or into which the Company is merged or the Person to which such conveyance,
transfer or lease is made shall succeed to, and be substituted for, and may exercise every right
and power of, the Company under this Indenture with the same effect as if such successor Person had
been named as the Company herein, and thereafter, except in the case of a lease, the predecessor
Person shall be relieved of all obligations and covenants under this Indenture and the Securities
Outstanding hereunder.

54

 

ARTICLE TWELVE

SUPPLEMENTAL INDENTURES

SECTION 1201. Supplemental Indentures Without Consent of Holders

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

     (a) to evidence the succession of another Person to the Company and the assumption by
any such successor of the covenants of the Company herein and in the Securities, all as
provided in Article Eleven; or

     (b) to add one or more covenants of the Company or other provisions for the benefit of
all Holders or for the benefit of the Holders of, or to remain in effect only so long as
there shall be Outstanding, Securities of one or more specified series, or one or more
specified Tranches thereof, or to surrender any right or power herein conferred upon the
Company; or

     (c) to add any additional Events of Default with respect to all or any series of
Securities Outstanding hereunder; or

     (d) to change or eliminate any provision of this Indenture or to add any new provision
to this Indenture; provided, however, that if such change, elimination or addition shall
adversely affect the interests of the Holders of Securities of any series or Tranche
Outstanding on the date of such indenture supplemental hereto in any material respect, such
change, elimination or addition shall become effective (1) with respect to such series or
Tranche only pursuant to the provisions of Section 1202 hereof or (2) when no Security of
such series or Tranche remains Outstanding; or

     (e) to provide collateral security for all but not part of the Securities; or

     (f) to establish the form or terms of Securities of any series or Tranche as
contemplated by Sections 201 and 301; or

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

     (h) to evidence and provide for the acceptance of appointment hereunder by a separate
or successor Trustee with respect to the Securities of one or more series and to add to or
change any of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to
the requirements of clause (b) of Section 911; or

55

 

     (i) to provide for the procedures required to permit the Company to utilize, at its
option, a non-certificated system of registration for all, or any series or Tranche of, the
Securities; or

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

     (k) to cure any ambiguity, to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein, or to make any other changes to
the provisions hereof or to add other provisions with respect to matters or questions
arising under this Indenture, provided that such other changes or additions shall not
adversely affect the interests of the Holders of Securities of any series or Tranche in any
material respect.

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

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

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

SECTION 1202. Supplemental Indentures With Consent of Holders

     With the consent of the Holders of not less than a majority in aggregate principal amount of
the Securities of all series then Outstanding under this Indenture, considered as one class, by Act
of said Holders delivered to the Company and the Trustee, the Company, when authorized by a Board
Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the
purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions
of, this Indenture; provided, however, that if there shall be Securities of more than one series
Outstanding hereunder and if a proposed supplemental indenture shall directly
affect the rights of the Holders of Securities of one or more, but less than all, of such
series, then the consent only of the Holders of a majority in aggregate principal amount of the
Outstanding Securities of all series so directly affected, considered as one class, shall be
required; and provided, further, that if the Securities of any series shall have been issued in
more than one Tranche and if the proposed supplemental indenture shall directly affect the rights
of the Holders of Securities of one or more, but less than all, of such Tranches, then the consent
only of the Holders of a majority in aggregate principal amount of the Outstanding Securities of
all Tranches so directly affected, considered as one class, shall be required; and provided,
further, that no such supplemental indenture shall:

56

 

     (a) change the Stated Maturity of the principal of, or any installment of principal of
or interest on, any Security, or reduce the principal amount thereof or the rate of interest
thereon (or the amount of any installment of interest thereon) or change the method of
calculating such rate or reduce any premium payable upon the redemption thereof, or reduce
the amount of the principal of a Discount Security that would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 802, or change the
coin or currency (or other property), in which any Security or any premium or the interest
thereon is payable, or impair the right to institute suit for the enforcement of any such
payment on or after the Stated Maturity of any Security (or, in the case of redemption, on
or after the Redemption Date), without, in any such case, the consent of the Holder of such
Security, or

     (b) reduce the percentage in principal amount of the Outstanding Securities of any
series or any Tranche thereof, the consent of the Holders of which is required for any such
supplemental indenture, or the consent of the Holders of which is required for any waiver of
compliance with any provision of this Indenture or of any default hereunder and its
consequences, or reduce the requirements of Section 1304 for quorum or voting, without, in
any such case, the consent of the Holders of each Outstanding Security of such series or
Tranche, or

     (c) modify any of the provisions of this Section, Section 607 or Section 813 with
respect to the Securities of any series, or any Tranche thereof, or except to increase the
percentages in principal amount referred to in this Section or such other Sections or to
provide that other provisions of this Indenture cannot be modified or waived without the
consent of the Holder of each Outstanding Security affected thereby; provided, however, that
this clause shall not be deemed to require the consent of any Holder with respect to changes
in the references to “the Trustee” and concomitant changes in this Section, or the deletion
of this proviso, in accordance with the requirements of clause (b) of Section 911 and clause
(h) of Section 1201.

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

57

 

     It shall not be necessary for any Act of Holders under this Section to approve the particular
form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve
the substance thereof. A waiver by a Holder of such Holder’s right to consent under this Section
shall be deemed to be a consent of such Holder.

SECTION 1203. Execution of Supplemental Indentures

     In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trusts created by this Indenture, the
Trustee shall be entitled to receive, and (subject to Section 901) shall be fully protected in
relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter
into any such supplemental indenture which affects the Trustee’s own rights, duties, immunities or
liabilities under this Indenture or otherwise.

SECTION 1204. Effect of Supplemental Indentures

     Upon the execution of any supplemental indenture under this Article this Indenture shall be
modified in accordance therewith, and such supplemental indenture shall form a part of this
Indenture for all purposes; and every Holder of Securities theretofore or thereafter authenticated
and delivered hereunder shall be bound thereby. Any supplemental indenture permitted by this
Article may restate this Indenture in its entirety, and, upon the execution and delivery thereof,
any such restatement shall supersede this Indenture as theretofore in effect for all purposes.

SECTION 1205. Conformity With Trust Indenture Act

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

SECTION 1206. Reference in Securities to Supplemental Indentures

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

SECTION 1207. Modification Without Supplemental Indenture

     If the terms of any particular series of Securities shall have been established in a Board
Resolution or an Officer’s Certificate pursuant to a Board Resolution as contemplated by Section
301, and not in an indenture supplemental hereto, additions to, changes in or the elimination of
any of such terms may be effected by means of a supplemental Board Resolution or Officer’s
Certificate, as the case may be, delivered to, and accepted by, the Trustee; provided, however,
that such supplemental Board Resolution or Officer’s Certificate shall not be accepted by the
Trustee or otherwise be effective unless all conditions set forth in this Indenture which
would be required to be satisfied if such additions, changes or elimination were contained in a
supplemental indenture shall have been appropriately satisfied. Upon the acceptance thereof by the
Trustee, any such supplemental Board Resolution or Officer’s Certificate shall be deemed to be a
“supplemental indenture” for purposes of Section 1204 and 1206.

58

 

ARTICLE THIRTEEN

MEETINGS OF HOLDERS; ACTION WITHOUT MEETING

SECTION 1301. Purposes for Which Meetings May Be Called

     A meeting of Holders of Securities of one or more, or all, series, or any Tranche or Tranches
thereof, may be called at any time and from time to time pursuant to this Article to make, give or
take any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be made, given or taken by Holders of Securities of such series or
Tranches.

SECTION 1302. Call, Notice and Place of Meetings

     (a) The Trustee may at any time call a meeting of Holders of Securities of one or more,
or all, series, or any Tranche or Tranches thereof, for any purpose specified in Section
1301, to be held at such time and at such place in the Borough of Manhattan, The City of New
York, as the Trustee shall determine, or, with the approval of the Company, at any other
place. Notice of every such meeting, setting forth the time and the place of such meeting
and in general terms the action proposed to be taken at such meeting, shall be given, in the
manner provided in Section 106, not less than 21 nor more than 180 days prior to the date
fixed for the meeting.

     (b) If the Trustee shall have been requested to call a meeting of the Holders of
Securities of one or more, or all, series, or any Tranche or Tranches thereof, by the
Company or by the Holders of 33% in aggregate principal amount of all of such series and
Tranches, considered as one class, for any purpose specified in Section 1301, by written
request setting forth in reasonable detail the action proposed to be taken at the meeting,
and the Trustee shall not have given the notice of such meeting within 21 days after receipt
of such request or shall not thereafter proceed to cause the meeting to be held as provided
herein, then the Company or the Holders of Securities of such series and Tranches in the
amount above specified, as the case may be, may determine the time and the place in the
Borough of Manhattan, The City of New York, or in such other place as shall be determined or
approved by the Company, for such meeting and may call such meeting for such purposes by
giving notice thereof as provided in clause (a) of this Section.

     (c) Any meeting of Holders of Securities of one or more, or all, series, or any Tranche
or Tranches thereof, shall be valid without notice if the Holders of all Outstanding
Securities of such series or Tranches are present in person or by proxy and if
representatives of the Company and the Trustee are present, or if notice is waived in
writing before or after the meeting by the Holders of all Outstanding Securities of
such series, or by such of them as are not present at the meeting in person or by proxy, and
by the Company and the Trustee.

59

 

SECTION 1303. Persons Entitled to Vote at Meetings

     To be entitled to vote at any meeting of Holders of Securities of one or more, or all, series,
or any Tranche or Tranches thereof, a Person shall be (a) a Holder of one or more Outstanding
Securities of such series or Tranches, or (b) a Person appointed by an instrument in writing as
proxy for a Holder or Holders of one or more Outstanding Securities of such series or Tranches by
such Holder or Holders. The only Persons who shall be entitled to attend any meeting of Holders of
Securities of any series or Tranche shall be the Persons entitled to vote at such meeting and their
counsel, any representatives of the Trustee and its counsel and any representatives of the Company
and its counsel.

SECTION 1304. Quorum; Action

     The Persons entitled to vote a majority in aggregate principal amount of the Outstanding
Securities of the series and Tranches with respect to which a meeting shall have been called as
hereinbefore provided, considered as one class, shall constitute a quorum for a meeting of Holders
of Securities of such series and Tranches; provided, however, that if any action is to be taken at
such meeting which this Indenture expressly provides may be taken by the Holders of a specified
percentage, which is less than a majority, in principal amount of the Outstanding Securities of
such series and Tranches, considered as one class, the Persons entitled to vote such specified
percentage in principal amount of the Outstanding Securities of such series and Tranches,
considered as one class, shall constitute a quorum. In the absence of a quorum within one hour of
the time appointed for any such meeting, the meeting shall, if convened at the request of Holders
of Securities of such series and Tranches, be dissolved. In any other case the meeting may be
adjourned for such period as may be determined by the chairman of the meeting prior to the
adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such
adjourned meeting may be further adjourned for such period as may be determined by the chairman of
the meeting prior to the adjournment of such adjourned meeting. Except as provided by clause (e)
of Section 1305, notice of the reconvening of any meeting adjourned for more than 30 days shall be
given as provided in clause (a) of Section 1302 not less than ten days prior to the date on which
the meeting is scheduled to be reconvened. Notice of the reconvening of an adjourned meeting shall
state expressly the percentage, as provided above, of the principal amount of the Outstanding
Securities of such series and Tranches which shall constitute a quorum.

     Except as limited by Section 1202, any resolution presented to a meeting or adjourned meeting
duly reconvened at which a quorum is present as aforesaid may be adopted only by the affirmative
vote of the Holders of a majority in aggregate principal amount of the Outstanding Securities of
the series and Tranches with respect to which such meeting shall have been called, considered as
one class; provided, however, that, except as so limited, any resolution with respect to any action
which this Indenture expressly provides may be taken by the Holders of a specified percentage,
which is less than a majority, in principal amount of the Outstanding Securities of such series and
Tranches, considered as one class, may be adopted at a meeting or
an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the
affirmative vote of the Holders of such specified percentage in principal amount of the Outstanding
Securities of such series and Tranches, considered as one class.

60

 

     Any resolution passed or decision taken at any meeting of Holders of Securities duly held in
accordance with this Section shall be binding on all the Holders of Securities of the series and
Tranches with respect to which such meeting shall have been held, whether or not present or
represented at the meeting.

SECTION 1305. Attendance at Meetings; Determination of Voting Rights; Conduct and Adjournment of
Meetings

     (a) Attendance at meetings of Holders of Securities may be in person or by proxy; and,
to the extent permitted by law, any such proxy shall remain in effect and be binding upon
any future Holder of the Securities with respect to which it was given unless and until
specifically revoked by the Holder or future Holder of such Securities before being voted.

     (b) Notwithstanding any other provisions of this Indenture, the Trustee may make such
reasonable regulations as it may deem advisable for any meeting of Holders of Securities in
regard to proof of the holding of such Securities and of the appointment of proxies and in
regard to the appointment and duties of inspectors of votes, the submission and examination
of proxies, certificates and other evidence of the right to vote, and such other matters
concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise
permitted or required by any such regulations, the holding of Securities shall be proved in
the manner specified in Section 104 and the appointment of any proxy shall be proved in the
manner specified in Section 104. Such regulations may provide that written instruments
appointing proxies, regular on their face, may be presumed valid and genuine without the
proof specified in Section 104 or other proof.

     (c) The Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by Holders as provided
in clause (b) of Section 1302, in which case the Company or the Holders of Securities of the
series and Tranches calling the meeting, as the case may be, shall in like manner appoint a
temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be
elected by vote of the Persons entitled to vote a majority in aggregate principal amount of
the Outstanding Securities of all series and Tranches represented at the meeting, considered
as one class.

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

61

 

     (e) Any meeting duly called pursuant to Section 1302 at which a quorum is present may
be adjourned from time to time by Persons entitled to vote a majority in aggregate principal
amount of the Outstanding Securities of all series and Tranches represented at the meeting,
considered as one class; and the meeting may be held as so adjourned without further notice.

SECTION 1306. Counting Votes and Recording Action of Meetings

     The vote upon any resolution submitted to any meeting of Holders shall be by written ballots
on which shall be subscribed the signatures of the Holders or of their representatives by proxy and
the principal amounts and serial numbers of the Outstanding Securities, of the series and Tranches
with respect to which the meeting shall have been called, held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes
cast at the meeting for or against any resolution and who shall make and file with the secretary of
the meeting their verified written reports of all votes cast at the meeting. A record of the
proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there
shall be attached to said record the original reports of the inspectors of votes on any vote by
ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting
forth a copy of the notice of the meeting and showing that said notice was given as provided in
Section 1302 and, if applicable, Section 1304. Each copy shall be signed and verified by the
affidavits of the permanent chairman and secretary of the meeting and one such copy shall be
delivered to the Company, and another to the Trustee to be preserved by the Trustee, the latter to
have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be
conclusive evidence of the matters therein stated.

SECTION 1307. Action Without Meeting

     In lieu of a vote of Holders at a meeting as hereinbefore contemplated in this Article, any
request, demand, authorization, direction, notice, consent, waiver or other action may be made,
given or taken by Holders by written instruments as provided in Section 104.

ARTICLE FOURTEEN

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND

DIRECTORS

SECTION 1401. Liability Solely Corporate

     No recourse shall be had for the payment of the principal of or premium, if any, or interest,
if any, on any Securities, or any part thereof, or for any claim based thereon or otherwise in
respect thereof, or of the indebtedness represented thereby, or upon any obligation, covenant or
agreement under this Indenture, against any incorporator, stockholder, officer or director, as
such, past, present or future of the Company or of any predecessor or successor corporation (either
directly or through the Company or a predecessor or successor corporation), whether by virtue of
any constitutional provision, statute or rule of law, or by the enforcement of any assessment or
penalty or otherwise; it being expressly agreed and understood that this Indenture and all the
Securities are solely corporate obligations, and that no personal liability whatsoever
shall attach to, or be incurred by, any incorporator, stockholder, officer or director, past,
present or future, of the Company or of any predecessor or successor corporation (either directly
or indirectly through the Company or any predecessor or successor corporation), because of the
indebtedness hereby authorized or under or by reason of any of the obligations, covenants or
agreements contained in this Indenture or in any of the Securities or to be implied herefrom or
therefrom, and that any such personal liability is hereby expressly waived and released as a
condition of, and as part of the consideration for, the execution of this Indenture and the
issuance of the Securities.

62

 

ARTICLE FIFTEEN

SUBORDINATION

SECTION 1501. Agreement to Subordinate

     The Company covenants and agrees, and each Holder of Securities of each series, by such
Holder’s acceptance thereof, likewise covenants and agrees, that the indebtedness evidenced by the
Securities of each series and the payment of the principal thereof, premium, if any, sinking fund
requirements therefor and interest thereon shall be subordinate and subject in right of payment, to
the extent and in the manner hereinafter set forth, to the prior payment in full in cash or cash
equivalents of all Senior Debt.

SECTION 1502. Distribution on Dissolution, Liquidation and Reorganization

     Upon any distribution to creditors of the Company in a liquidation, dissolution or winding up
of the Company, whether voluntary or involuntary, or in a bankruptcy, reorganization, insolvency,
receivership or similar proceeding relating to the Company or its properties, or upon an assignment
for the benefit of creditors or any other marshaling of the assets and liabilities of the Company
(each such event, if any, herein sometimes referred to as a “Proceeding”):

     (a) all principal of, premium, if any, interest (including interest after the
commencement of any such Proceeding at the rate specified in the applicable Senior Debt) and
commitment fees (the “Obligations”) due on, or to become due on or in respect of, all Senior
Debt shall first be paid in full in cash or cash equivalents before any payment or
distribution of any kind or character, whether in cash, property or securities, by set off
or otherwise (including any payment or distribution which may be payable or
deliverable by reason of the payment of any Junior Subordinated Debt), on account of the
principal of (and premium, if any) or interest on any Securities or on account of any
purchase, redemption, retirement or other acquisition of Securities by the Company, any
Subsidiary of the Company, the Trustee or any Paying Agent or on account of any other
obligation of the Company in respect of any Securities (all such payments, distributions,
purchases, redemptions, retirements and acquisitions, whether or not in connection with a
Proceeding, herein referred to, individually and collectively, as a “Securities Payment”),
or before the Holders of the Securities shall be entitled to retain any assets so paid or
distributed in respect thereof; and

63

 

     (b) until the Senior Debt is paid in full in cash or cash equivalents (as provided in
subsection (a) above), any Securities Payment to which the Holders of the Securities or the
Trustee for their benefit would be entitled except for the provisions of this Section 1302,
shall be paid or delivered by the Company or any receiver, trustee in bankruptcy,
liquidating trustee, agent or other person making such payment or distribution directly to
the holders of Senior Debt or their representative or representatives or the trustee or
trustees under any indenture pursuant to which any instruments evidencing any Senior Debt
may have been issued, as their respective interests may appear.

     For purposes of this Article 15 only, the words “any payment or distribution of any kind or
character, whether in cash, property or securities” shall not be deemed to include (i) a payment or
distribution of stock or securities of the Company provided for by a plan of reorganization or
readjustment authorized by an order or decree of a court of competent jurisdiction in a
reorganization proceeding under any applicable Bankruptcy Law or of any other corporation provided
for by such plan of reorganization or readjustment which stock or securities are subordinated in
right of payment to all then outstanding Senior Debt to the same extent as, or to a greater extent
than, the Securities are so subordinated as provided in this Article; or (ii) any deposit, or
payment made therefrom, pursuant to Article 7, with respect to any series of Securities; provided
that, in the case of any such payment from a defeasance trust, the assets deposited in trust to
fund such payment have been so deposited for any period of at least 90 consecutive days without the
occurrence of a blockage of payment on such series of Securities pursuant to this Section 1502 or
Section 1503 hereof. The consolidation of the Company with, or the merger of the Company into,
another Person or the liquidation or dissolution of the Company following the conveyance or
transfer of all or substantially all of its properties and assets as an entirety to another Person
upon the terms and conditions set forth in Article 7 shall not be deemed a Proceeding for the
purposes of this Section if the Person formed by such consolidation or into which the Company is
merged or the Person which acquires by conveyance or transfer such properties and assets as an
entirety, as the case may be, shall, as a part of such consolidation, merger, conveyance or
transfer, comply with the conditions set forth in Article 7.

SECTION 1503. No Payment When Senior Debt In Default

     In the event that any Senior Payment Default shall have occurred, then no Securities Payment
shall be made unless and until such Senior Payment Default shall have been cured or waived in
writing or shall have ceased to exist or all Obligations in respect of such Senior Debt shall have
been paid in full in cash or cash equivalents.

     The provisions of this Section shall not apply to any Securities Payment with respect to which
Section 1502 hereof would be applicable.

SECTION 1504. Payment to Holders of Senior Debt

     Subject to the provisions of Section 1506, in the event that, notwithstanding the provisions
of Section 1502 or Section 1503, any Securities Payment shall be received by the Trustee on behalf
of the Holders of the Securities (i) from the Company in violation of such provisions, or (ii) from
any other Person under such circumstances that such payment would, if
made directly by the Company, be in violation of such provisions, such payment or distribution
shall be held by the Trustee in trust for the benefit of, and shall immediately be paid over by the
Trustee, upon written request by a Person entitled to give notice on behalf of such Senior Debt as
specified in Section 1510, to the holders of Senior Debt or their representative or
representatives, or to the trustee or trustees under any indenture under which any instrument
evidencing any of such Senior Debt may have been issued, as their respective interests may appear,
for application to the payment of Senior Debt.

64

 

     Upon any payment or distribution of assets or securities of the Company referred to in
Sections 1502 and 1503, the Trustee and the Holders of the Securities shall be entitled to rely
upon any order or decree of a court of competent jurisdiction, or upon any certificate of any
liquidating trustee or agent or other similar Person making any payment or distribution to the
Trustee or to the Holders of the Securities, for the purpose of ascertaining the Persons entitled
to participate in such payment or distribution, the holders of the Senior Debt, the amount thereof
or payment thereon, the amount or amounts paid or distributed thereon and all other facts pertinent
thereto or to this Article 15. In the event that the Trustee determines, in good faith, that
further evidence is required with respect to the right of any Person as a holder of Senior Debt to
participate in any payment or distribution referred to in Sections 1502 and 1503, the Trustee may
request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the
amount of Senior Debt held by such Person, as to the extent to which such Person is entitled to
participation in such payment or distribution, and as to other facts pertinent to the rights of
such Person under Sections 1502 and 1503, and if such evidence is not furnished, the Trustee may
defer any payment to such Person pending judicial determination as to the right of such Person to
receive such payment.

SECTION 1505. Subrogation

     Subject to the payment in full in cash or cash equivalents of all Senior Debt at the time
outstanding, the Holders of the Securities shall be subrogated to the rights of each holder of
Senior Debt (to the extent of the payments or distributions made to such holder pursuant to the
provisions of Sections 1502, 1503 and 1504) to receive payments or distributions of cash, assets or
securities of the Company applicable to the Senior Debt until the Securities shall be paid in full.
No payments or distributions to holders of Senior Debt of cash, assets or securities of the Company
to which Holders of Securities would be entitled except for the provisions of this Article 15, and
no payment over pursuant to the provisions of this Article 15 to holders of such Senior Debt by the
Holders of Securities shall, as among the Company, its creditors other than the holders of Senior
Debt, and the Holders of the Securities, be deemed to be a payment by the Company on account of the
Senior Debt, it being understood that the provisions of this Article 15 are intended solely for the
purpose of defining the relative rights of the Holders of the Securities, on the one hand, and the
holders of the Senior Debt, on the other hand, and nothing contained in this Article 15 or
elsewhere in this Indenture, or in the Securities, is intended to or shall impair, as between the
Company, its creditors other than the holders of Senior Debt, and the Holders of the Securities,
the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the
Securities the principal of, premium, if any, and interest on the Securities, as and when the same
shall become due and payable in accordance with their terms, or is intended to or shall affect the
relative rights of the Holders of the Securities and creditors of the Company other than the
holders of Senior Debt, nor shall anything herein or therein prevent
the Trustee or the Holder of any Securities from exercising all remedies otherwise permitted
by applicable law upon default under this Indenture, subject to the rights, if any, under this
Article 15 of the holders of Senior Debt in respect of cash, property or securities of the Company
received upon the exercise of any such remedy.

65

 

SECTION 1506. Payment on Securities Permitted

     Nothing contained in this Article 15 or elsewhere in this Indenture, or in any of the
Securities, shall prevent the Company from making payment of the principal of, sinking fund, if
any, premium, if any, or interest on the Securities, at any time, except under the conditions
described in Section 1503 and except during the pendency of any Proceeding within the meaning of
Section 1502. Nothing contained in this Article 15 or elsewhere in this Indenture, or in any of the
Securities, shall prevent the application by the Trustee of any moneys deposited with it hereunder
for the purpose, to the payment of or on account of the principal of, sinking fund, if any, or
premium, if any, or interest on the Securities, unless the Trustee shall have received written
notice, directed to it at its Corporate Trust Office as provided in Section 1510.

SECTION 1507. Authorization of Holders to Trustee to Effect Subordination

     Each Holder of Securities, by such Holder’s acceptance thereof, authorizes and directs the
Trustee in such Holder’s behalf to take such action as may be necessary or appropriate to
effectuate, as between the Holders of the Securities and the holders of Senior Debt, the
subordination provided in this Article 15 and appoints the Trustee such Holder’s attorney-in-fact
for any and all such purposes.

SECTION 1508. No Waiver of Subordination Provisions

     No right of any present or future holder of any Senior Debt to enforce subordination as herein
provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the
part of the Company or by any act or failure to act by any such holder, or by any noncompliance by
the Company with terms, provisions and covenants of this Indenture, regardless of any knowledge
thereof any such holder may have or be otherwise charged with.

     Without in any way limiting the generality of the foregoing paragraph, the holders of Senior
Debt may, at any time and from time to time without the consent of or notice to the Trustee or the
Holders of the Securities, without incurring responsibility to the Holders of the Securities and
without impairing or releasing the subordination provided in this Article or the obligations
hereunder of the Holders of the Securities to the holders of Senior Debt, do any one or more of the
following: (i) change the manner, place or terms of payment or extend the time of payment of, or
renew or alter, Senior Debt, or otherwise amend or supplement in any manner Senior Debt or any
instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) permit
the Company to borrow, repay and then reborrow any or all of the Senior Debt; (iii) sell, exchange,
release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt;
(iv) release any Person liable in any manner for the collection of Senior Debt; (v) exercise or
refrain from exercising any rights against the Company and any other Person; and (vi) apply any
sums received by them to Senior Debt.

66

 

SECTION 1509. Trustee as Holder of Senior Debt

     The Trustee shall be entitled to all the rights set forth in this Article 15 in respect of any
Senior Debt at any time held by it, to the same extent as any other holder of Senior Debt, and
nothing in Section 913 or elsewhere in this Indenture shall deprive or be construed to deprive the
Trustee of its rights as such holder.

     Nothing in this Article 15 shall apply to claims of, or payments to, the Trustee under or
pursuant to Section 907 hereof.

SECTION 1510. Notices to Trustee

     The Company shall give prompt written notice to the Trustee of any fact known to the Company
which would prohibit the making of any payment to or by the Trustee in respect of the Securities,
but failure to give such notice shall not affect the subordination of the Securities to the extent
herein provided if notice is otherwise given as hereinafter provided in this Section 1510.

     Notwithstanding the provisions of this Article or any other provision of this Indenture, the
Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the
making of any payment to or by the Trustee in respect of the Securities, unless and until a
Responsible Officer of the Trustee shall have received written notice thereof from the Company, any
holder of Senior Debt or any trustee, fiduciary or agent therefor; and, prior to the receipt of any
such written notice, the Trustee, subject to the provisions of Section 801 hereof, shall be
entitled in all respects to assume that no such facts exist. Any notice required or permitted to be
given to the Trustee by a holder of Senior Debt or a trustee, fiduciary or transfer agent therefor
shall be in writing and shall be sufficient for every purpose hereunder in writing and either (i)
sent via facsimile to the Trustee, the receipt of which shall be confirmed via telephone, or (ii)
mailed, first class postage prepaid, or sent overnight carrier, to the Trustee addressed to it at
the address of its principal office specified in the first paragraph of this instrument or at any
other address furnished in writing to such holder of the Senior Debt by the Trustee.
Notwithstanding anything else contained herein, no notice, request or other communication to or
with the Trustee shall be deemed given unless received by a Responsible Officer at the Trustee’s
principal corporate trust office.

SECTION 1511. No Fiduciary Duty by Trustee to Holders of Senior Debt

     The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and
shall not be liable to any such holders if it shall in good faith mistakenly pay over or distribute
to Holders of Securities or the Company or any other Person moneys or assets to which any holders
of Senior Debt shall be entitled by virtue of this Article 15 or otherwise.

67

 

SECTION 1512. Paying Agent Treated as Trustee

     In case at any time any Paying Agent other than the Trustee shall have been appointed by the
Company and be then acting hereunder, the term “Trustee” as used in this Article 15 shall in such
case (unless the context shall otherwise require) be construed as extending to and including
such Paying Agent within its meaning as fully for all intents and purposes as if such Paying
Agent were named in this Article 15 in place of the Trustee.

 

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

68

 

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

	 	 	 	 	 	 	 
	 	 	ATS MEDICAL, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF TRUSTEE], Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

69

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]