Document:

EXHIBIT 10.24

THE TOPPS COMPANY, INC.

2001 STOCK INCENTIVE PLAN

RESTRICTED STOCK AGREEMENT

THIS AGREEMENT is made effective as of the 7th day of May, 2007, between The Topps Company, Inc., a Delaware corporation (the ‘‘Company’’), and Scott Silverstein (the ‘‘Grantee’’). Except as specifically provided herein, capitalized terms used herein shall have the meanings attributed to them in The Topps Company, Inc. 2001 Stock Incentive Plan (the ‘‘Plan’’).

The Company desires to grant the Grantee shares of Restricted Stock on the terms and conditions set forth herein. In consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows:

1.    Grant of Restricted Stock.     The Company hereby grants to the Grantee six thousand six hundred and fifty-three (6,653) shares of common stock of the Company, $0.01 par value per share, on the terms and conditions set forth herein (the ‘‘Restricted Stock’’).

2.    Issuance of Shares.     The shares of Restricted Stock shall be issued by the Company and shall be registered in the Grantee’s name, or the name of a broker retained by the Company to hold the shares beneficially for Grantee, on the stock transfer books of the Company promptly after the date hereof. If requested by the Company, the Grantee promptly shall deliver to the Company a stock power, duly endorsed in blank, relating to the Restricted Shares.

3.    Legend on Certificates.     Each certificate representing shares of Restricted Stock awarded hereunder, if any, shall bear the following legend until the shares subject to the certificate vest, become transferable and no longer subject to forfeiture:

‘‘Transfer of this certificate and the shares represented hereby is restricted pursuant to the terms of a Restricted Stock Agreement, dated as of May 7, 2007 between The Topps Company, Inc. and Scott Silverstein. A copy of such Agreement is on file at the offices of The Topps Company, Inc.’’

Stop transfer orders shall be entered with the Company’s transfer agent and registrar against the transfer of legended securities.

4.    Non-Transferability.     The Grantee may not sell, transfer, pledge, or otherwise encumber or dispose of the shares of Restricted Stock, other than by will or the laws of descent and distribution, until such shares become vested. Any such transfer, pledge or encumbrance shall be void and unenforceable against the Company.

5.    Vesting.     The shares of Restricted Stock granted hereby shall vest and the restrictions imposed thereon shall lapse as follows: (i) two thousand two hundred and seventeen (2,217) shares of Restricted Stock shall vest on May 7, 2008, (ii) two thousand two hundred and eighteen (2,218) shares of Restricted Stock shall vest on May 7, 2009, and (iii) two thousand two hundred and eighteen (2,218) shares of Restricted Stock shall vest on May 7, 2010. Notwithstanding anything herein to the contrary, all unvested shares of Restricted Stock shall immediately become fully vested and the restrictions imposed thereon shall lapse upon (a) the death or disability of the Grantee or (b) any termination of the Grantee’s employment whereby the Grantee becomes entitled to severance benefits under the terms of the Employment Agreement dated as of January 1, 2007, by and between the Grantee and the Company (the ‘‘Employment Agreement’’).

6.    Forfeiture of Shares.     If the Grantee’s employment by the Company shall terminate under circumstances whereby the Grantee is not entitled to receive severance benefits under the Employment Agreement (other than as a result of death or disability), all unvested shares of Restricted Stock shall be immediately forfeited to the Company and the Grantee shall have no further rights with respect thereto.

7.    Delivery of Share Certificates.     Upon the vesting of the shares of Restricted Stock granted hereunder, the certificates evidencing such shares of Restricted Stock shall be delivered promptly to 

1

the Grantee. In the case of the Grantee’s death, such certificates will be delivered to the beneficiary designated in writing by the Grantee pursuant to a form of designation provided by the Company, to the Grantee’s legatee or legatees, or to his personal representatives or distributes, as the case may be. Alternatively, the certificates representing the vested shares of Restricted Stock shall be delivered to a broker designated by the Grantee, or, in the case of Grantee’s death, the beneficiary designated by the Grantee above.

8.    Binding Effect.     This Agreement shall be binding upon the heirs, executors, administrators and successors of the parties hereto.

9.    Governing Law.     This Agreement shall be construed and interpreted in accordance with the internal laws of the State of Delaware without reference to the principles of conflicts of law thereof.

10.    No Employment Rights.     Neither this Agreement nor any action taken hereunder shall be construed as giving the Grantee any right to be retained in the employ or service of the Company or any affiliate of the Company.

11.    Section 83(b) Election.     Grantee will be entitled to make an election pursuant to Section 83(b) of the Internal Revenue Code (‘‘Section 83(b) Election’’), or comparable provisions of any state tax law, to include in Grantee’s gross income the fair market value (as of the date of acquisition) of the Restricted Stock Grantee acquire hereunder only if, prior to making any such election, Grantee notifies the Company of Grantee’s intention to make such election, by delivering to the Company a copy of the fully-executed Section 83(b) Election in the Form attached hereto as Exhibit ‘‘A.’’

12.    Tax Withholding.     The Company shall have the right to deduct from the number of shares of Restricted Stock delivered upon the vesting of any such shares such number of shares of Restricted Stock, valued at fair market value on the date of payment, in an amount necessary to satisfy all Federal, state and local taxes as required by law to be withheld with respect to such shares. In the alternative, at the sole discretion of the Compensation Committee, the Grantee or other person receiving Restricted Stock upon the vesting of such stock may be required to pay to the Company (in cash or through salary reduction), prior to delivery of such stock, the amount of any such taxes which the Company is required to withhold, if any, with respect to such stock.

EXECUTED effective as of the day and year first written above.

		THE TOPPS COMPANY, INC.

		By:     /s/ Cathy Jessup                                

         Name: Cathy Jessup

         Title: Chief Financial Officer

		GRANTEE

		        /s/ Scott Silverstein                            

2EXECUTION COPY
	 

	 
		
		  
		  

		
 
 

	 
		INDENTURE,
	 

	 
		Dated as of May 15, 2007,
	 

	 
		AMONG
	 

	 
		ATLANTIC EXPRESS TRANSPORTATION
		CORP.,
	 

	 
		as Issuer,
	 

	 
		THE BANK OF NEW YORK,
	 

	 
		as Trustee and Collateral Agent,
	 

	 
		AND
	 

	 
		THE GUARANTORS NAMED HEREIN,
	 

	 
		as Guarantors,
	 

	 
		$185,000,000 Senior Secured Floating Rate
		Notes due 2012
	 

	 
		
		  
		  

		
 
 

	 
		 
	 

	 
	 

	 

	 
		TABLE OF CONTENTS
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  Page
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	 
	
				
				  ARTICLE ONE
				

			 
	
				
				  DEFINITIONS AND INCORPORATION BY
				  REFERENCE
				

			 
	 	 	 
	
				
				  Section 1.01. Definitions
				

			 	
				
				   
				

			 	
				
				  1
				

			 
	
				
				  Section 1.02. Incorporation by
				  Reference of Trust Indenture Act
				

			 	
				
				   
				

			 	
				
				  28
				

			 
	
				
				  Section 1.03. Rules of
				  Construction
				

			 	
				
				   
				

			 	
				
				  28
				

			 
	 
	
				
				  ARTICLE TWO
				

			 
	
				
				  THE NOTES
				

			 
	 	 	 
	
				
				  Section 2.01. Form and Dating

				

			 	
				
				   
				

			 	
				
				  29
				

			 
	
				
				  Section 2.02. Execution and
				  Authentication; Aggregate Principal Amount
				

			 	
				
				   
				

			 	
				
				  30
				

			 
	
				
				  Section 2.03. Registrar and Paying
				  Agent
				

			 	
				
				   
				

			 	
				
				  30
				

			 
	
				
				  Section 2.04. Obligations of Paying
				  Agent
				

			 	
				
				   
				

			 	
				
				  31
				

			 
	
				
				  Section 2.05. Holder Lists
				

			 	
				
				   
				

			 	
				
				  31
				

			 
	
				
				  Section 2.06. Transfer and
				  Exchange
				

			 	
				
				   
				

			 	
				
				  31
				

			 
	
				
				  Section 2.07. Replacement
				  Notes
				

			 	
				
				   
				

			 	
				
				  32
				

			 
	
				
				  Section 2.08. Outstanding
				  Notes
				

			 	
				
				   
				

			 	
				
				  32
				

			 
	
				
				  Section 2.09. Treasury Notes; When
				  Notes Are Disregarded
				

			 	
				
				   
				

			 	
				
				  33
				

			 
	
				
				  Section 2.10. Temporary Notes

				

			 	
				
				   
				

			 	
				
				  33
				

			 
	
				
				  Section 2.11. Cancellation
				

			 	
				
				   
				

			 	
				
				  33
				

			 
	
				
				  Section 2.12. CUSIP Numbers
				

			 	
				
				   
				

			 	
				
				  34
				

			 
	
				
				  Section 2.13. Deposit of
				  Moneys
				

			 	
				
				   
				

			 	
				
				  34
				

			 
	
				
				  Section 2.14. Book-Entry Provisions
				  for Global Notes
				

			 	
				
				   
				

			 	
				
				  34
				

			 
	
				
				  Section 2.15. Special Transfer
				  Provisions
				

			 	
				
				   
				

			 	
				
				  35
				

			 
	 
	
				
				  ARTICLE THREE
				

			 
	
				
				  REDEMPTION
				

			 
	 	 	 
	
				
				  Section 3.01. Optional
				  Redemption
				

			 	
				
				   
				

			 	
				
				  37
				

			 
	
				
				  Section 3.02. Selection of Notes to
				  Be Redeemed
				

			 	
				
				   
				

			 	
				
				  37
				

			 
	
				
				  Section 3.03. Notice of
				  Redemption
				

			 	
				
				   
				

			 	
				
				  38
				

			 
	
				
				  Section 3.04. Effect of Notice of
				  Redemption
				

			 	
				
				   
				

			 	
				
				  39
				

			 
	
				
				  Section 3.05. Deposit of Redemption
				  Price
				

			 	
				
				   
				

			 	
				
				  39
				

			 
	
				
				  Section 3.06. Notes Redeemed in
				  Part
				

			 	
				
				   
				

			 	
				
				  39
				

			 
	 
	
				
				  ARTICLE FOUR
				

			 
	
				
				  COVENANTS
				

			 
	 	 	 
	
				
				  Section 4.01. Payment of
				  Notes
				

			 	
				
				   
				

			 	
				
				  40
				

			 
	
				
				  Section 4.02. Maintenance of Office
				  or Agency
				

			 	
				
				   
				

			 	
				
				  40
				

			 
	
				
				  Section 4.03. Corporate
				  Existence
				

			 	
				
				   
				

			 	
				
				  40
				

			 
	
				
				  Section 4.04. Payment of Taxes and
				  Other Claims
				

			 	
				
				   
				

			 	
				
				  40
				

			 
	
				
				  Section 4.05. Maintenance of
				  Properties and Insurance
				

			 	
				
				   
				

			 	
				
				  41
				

			 
	
				
				  Section 4.06. Compliance
				  Certificate; Notice of Default
				

			 	
				
				   
				

			 	
				
				  41
				

			 
	
				
				  Section 4.07. Compliance with
				  Laws
				

			 	
				
				   
				

			 	
				
				  42
				

			 

 

	 
		 
	 

	 
		 
	 

	 
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		(continued)
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  Page
				

			 
	
				
				  Section 4.08. Reports to
				  Holders
				

			 	
				
				   
				

			 	
				
				  42
				

			 
	
				
				  Section 4.09. Waiver of Stay,
				  Extension or Usury Laws
				

			 	
				
				   
				

			 	
				
				  43
				

			 
	
				
				  Section 4.10. Limitation on
				  Restricted Payments
				

			 	
				
				   
				

			 	
				
				  43
				

			 
	
				
				  Section 4.11. Limitation on
				  Transactions with Affiliates
				

			 	
				
				   
				

			 	
				
				  47
				

			 
	
				
				  Section 4.12. Limitation on
				  Incurrence of Additional Indebtedness
				

			 	
				
				   
				

			 	
				
				  48
				

			 
	
				
				  Section 4.13. Limitation on Dividend
				  and Other Payment Restrictions Affecting Restricted Subsidiaries
				

			 	
				
				   
				

			 	
				
				  49
				

			 
	
				
				  Section 4.14. Additional Subsidiary
				  Guarantees
				

			 	
				
				   
				

			 	
				
				  51
				

			 
	
				
				  Section 4.15. Limitation on Change
				  of Control
				

			 	
				
				   
				

			 	
				
				  51
				

			 
	
				
				  Section 4.16. Limitation on Asset
				  Sales
				

			 	
				
				   
				

			 	
				
				  53
				

			 
	
				
				  Section 4.17. Impairment of Security
				  Interest
				

			 	
				
				   
				

			 	
				
				  55
				

			 
	
				
				  Section 4.18. Limitation on
				  Liens
				

			 	
				
				   
				

			 	
				
				  56
				

			 
	
				
				  Section 4.19. Conduct of
				  Business
				

			 	
				
				   
				

			 	
				
				  56
				

			 
	
				
				  Section 4.20. Limitation on
				  Issuances and Sales of Capital Stock of Subsidiaries
				

			 	
				
				   
				

			 	
				
				  56
				

			 
	
				
				  Section 4.21. Payments For
				  Consent
				

			 	
				
				   
				

			 	
				
				  57
				

			 
	
				
				  Section 4.22. Real Estate Mortgages
				  and Recordings
				

			 	
				
				   
				

			 	
				
				  57
				

			 
	 
	
				
				  ARTICLE FIVE
				

			 
	
				
				  SUCCESSOR CORPORATION
				

			 
	 	 	 
	
				
				  Section 5.01. Merger, Consolidation
				  and Sale of Assets
				

			 	
				
				   
				

			 	
				
				  58
				

			 
	
				
				  Section 5.02. Successor Corporation
				  Substituted
				

			 	
				
				   
				

			 	
				
				  59
				

			 
	 
	
				
				  ARTICLE SIX
				

			 
	
				
				  DEFAULT AND REMEDIES
				

			 
	 	 	 
	
				
				  Section 6.01. Events of
				  Default
				

			 	
				
				   
				

			 	
				
				  60
				

			 
	
				
				  Section 6.02. Rights of the
				  Company
				

			 	
				
				   
				

			 	
				
				  61
				

			 
	
				
				  Section 6.03. Acceleration
				

			 	
				
				   
				

			 	
				
				  62
				

			 
	
				
				  Section 6.04. Other Remedies
				

			 	
				
				   
				

			 	
				
				  62
				

			 
	
				
				  Section 6.05. Waiver of Past
				  Defaults
				

			 	
				
				   
				

			 	
				
				  63
				

			 
	
				
				  Section 6.06. Control by
				  Majority
				

			 	
				
				   
				

			 	
				
				  63
				

			 
	
				
				  Section 6.07. Limitation on
				  Suits
				

			 	
				
				   
				

			 	
				
				  63
				

			 
	
				
				  Section 6.08. Rights of Holders to
				  Receive Payment
				

			 	
				
				   
				

			 	
				
				  64
				

			 
	
				
				  Section 6.09. Collection Suit by
				  Trustee or Collateral Agent
				

			 	
				
				   
				

			 	
				
				  64
				

			 
	
				
				  Section 6.10. Trustee May File
				  Proofs of Claim
				

			 	
				
				   
				

			 	
				
				  64
				

			 
	
				
				  Section 6.11. Priorities
				

			 	
				
				   
				

			 	
				
				  65
				

			 
	
				
				  Section 6.12. Undertaking for
				  Costs
				

			 	
				
				   
				

			 	
				
				  65
				

			 
	
				
				  Section 6.13. Restoration of Rights
				  and Remedies
				

			 	
				
				   
				

			 	
				
				  66
				

			 
	 
	
				
				  ARTICLE SEVEN
				

			 
	
				
				  TRUSTEE
				

			 
	 	 	 
	
				
				  Section 7.01. Duties of
				  Trustee
				

			 	
				
				   
				

			 	
				
				  66
				

			 
	
				
				  Section 7.02. Rights of
				  Trustee
				

			 	
				
				   
				

			 	
				
				  67
				

			 

 

	 
		 
	 

	 
		 
	 

	 
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		(continued)
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  Page
				

			 
	
				
				  Section 7.03. Individual Rights of
				  Trustee
				

			 	
				
				   
				

			 	
				
				  69
				

			 
	
				
				  Section 7.04. Trustee’s
				  Disclaimer
				

			 	
				
				   
				

			 	
				
				  69
				

			 
	
				
				  Section 7.05. Notice of
				  Default
				

			 	
				
				   
				

			 	
				
				  70
				

			 
	
				
				  Section 7.06. Reports by Trustee to
				  Holders
				

			 	
				
				   
				

			 	
				
				  70
				

			 
	
				
				  Section 7.07. Compensation and
				  Indemnity
				

			 	
				
				   
				

			 	
				
				  70
				

			 
	
				
				  Section 7.08. Replacement of
				  Trustee
				

			 	
				
				   
				

			 	
				
				  72
				

			 
	
				
				  Section 7.09. Successor Trustee by
				  Merger, Etc.
				

			 	
				
				   
				

			 	
				
				  73
				

			 
	
				
				  Section 7.10. Eligibility;
				  Disqualification
				

			 	
				
				   
				

			 	
				
				  73
				

			 
	
				
				  Section 7.11. Preferential
				  Collection of Claims Against Company
				

			 	
				
				   
				

			 	
				
				  74
				

			 
	
				
				  Section 7.12. Trustee as Collateral
				  Agent
				

			 	
				
				   
				

			 	
				
				  74
				

			 
	
				
				  Section 7.13. Co-Trustees,
				  co-Collateral Agent and Separate Trustees, Collateral Agent
				

			 	
				
				   
				

			 	
				
				  74
				

			 
	
				
				  Section 7.14. Form of Documents
				  Delivered to Trustee
				

			 	
				
				   
				

			 	
				
				  75
				

			 
	 
	
				
				  ARTICLE EIGHT
				

			 
	
				
				  SATISFACTION AND DISCHARGE OF
				  INDENTURE
				

			 
	 	 	 
	
				
				  Section 8.01. Legal Defeasance and
				  Covenant Defeasance
				

			 	
				
				   
				

			 	
				
				  76
				

			 
	
				
				  Section 8.02. Satisfaction and
				  Discharge
				

			 	
				
				   
				

			 	
				
				  78
				

			 
	
				
				  Section 8.03. Survival of Certain
				  Obligations
				

			 	
				
				   
				

			 	
				
				  79
				

			 
	
				
				  Section 8.04. Acknowledgment of
				  Discharge by Trustee
				

			 	
				
				   
				

			 	
				
				  79
				

			 
	
				
				  Section 8.05. Application of Trust
				  Moneys
				

			 	
				
				   
				

			 	
				
				  79
				

			 
	
				
				  Section 8.06. Repayment to the
				  Company; Unclaimed Money
				

			 	
				
				   
				

			 	
				
				  80
				

			 
	
				
				  Section 8.07. Reinstatement
				

			 	
				
				   
				

			 	
				
				  80
				

			 
	 
	
				
				  ARTICLE NINE
				

			 
	
				
				  AMENDMENTS, SUPPLEMENTS AND
				  WAIVERS
				

			 
	 	 	 
	
				
				  Section 9.01. Without Consent of
				  Holders
				

			 	
				
				   
				

			 	
				
				  80
				

			 
	
				
				  Section 9.02. With Consent of
				  Holders
				

			 	
				
				   
				

			 	
				
				  82
				

			 
	
				
				  Section 9.03. Compliance with
				  TIA
				

			 	
				
				   
				

			 	
				
				  83
				

			 
	
				
				  Section 9.04. Revocation and Effect
				  of Consents
				

			 	
				
				   
				

			 	
				
				  83
				

			 
	
				
				  Section 9.05. Notation on or
				  Exchange of Notes
				

			 	
				
				   
				

			 	
				
				  84
				

			 
	
				
				  Section 9.06. Trustee to Sign
				  Amendments, Etc.
				

			 	
				
				   
				

			 	
				
				  84
				

			 
	
				
				  Section 9.07. Conformity with Trust
				  Indenture Act
				

			 	
				
				   
				

			 	
				
				  84
				

			 
	 
	
				
				  ARTICLE TEN
				

			 
	
				
				  GUARANTEE
				

			 
	 	 	 
	
				
				  Section 10.01. Guarantee
				

			 	
				
				   
				

			 	
				
				  84
				

			 
	
				
				  Section 10.02. Release of a
				  Guarantor
				

			 	
				
				   
				

			 	
				
				  86
				

			 
	
				
				  Section 10.03. Limitation of
				  Guarantor’s Liability
				

			 	
				
				   
				

			 	
				
				  86
				

			 
	
				
				  Section 10.04. Guarantors May
				  Consolidate, etc., on Certain Terms
				

			 	
				
				   
				

			 	
				
				  87
				

			 
	
				
				  Section 10.05. Contribution
				

			 	
				
				   
				

			 	
				
				  88
				

			 
	
				
				  Section 10.06. Waiver of
				  Subrogation
				

			 	
				
				   
				

			 	
				
				  88
				

			 
	
				
				  Section 10.07. Evidence of
				  Guarantee
				

			 	
				
				   
				

			 	
				
				  88
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		(iii)
	 

	 
		 
	 

	 
	 

	 

	 
		Table of Contents
	 

	 
		(continued)
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  Page
				

			 
	
				
				  Section 10.08. Waiver of Stay,
				  Extension or Usury Laws
				

			 	
				
				   
				

			 	
				
				  88
				

			 
	 
	
				
				  ARTICLE ELEVEN
				

			 
	
				
				  MISCELLANEOUS
				

			 
	 	 	 
	
				
				  Section 11.01. Trust Indenture Act
				  Controls
				

			 	
				
				   
				

			 	
				
				  89
				

			 
	
				
				  Section 11.02. Notices
				

			 	
				
				   
				

			 	
				
				  89
				

			 
	
				
				  Section 11.03. Communications by
				  Holders with Other Holders
				

			 	
				
				   
				

			 	
				
				  90
				

			 
	
				
				  Section 11.04. Certificate and
				  Opinion as to Conditions Precedent
				

			 	
				
				   
				

			 	
				
				  90
				

			 
	
				
				  Section 11.05. Statements Required
				  in Certificate or Opinion
				

			 	
				
				   
				

			 	
				
				  90
				

			 
	
				
				  Section 11.06. Rules by Trustee,
				  Paying Agent, Registrar
				

			 	
				
				   
				

			 	
				
				  91
				

			 
	
				
				  Section 11.07. Legal Holidays

				

			 	
				
				   
				

			 	
				
				  91
				

			 
	
				
				  Section 11.08. Governing Law
				

			 	
				
				   
				

			 	
				
				  91
				

			 
	
				
				  Section 11.09. No Adverse
				  Interpretation of Other Agreements
				

			 	
				
				   
				

			 	
				
				  91
				

			 
	
				
				  Section 11.10. No Recourse Against
				  Others
				

			 	
				
				   
				

			 	
				
				  91
				

			 
	
				
				  Section 11.11. Successors
				

			 	
				
				   
				

			 	
				
				  92
				

			 
	
				
				  Section 11.12. Duplicate
				  Originals
				

			 	
				
				   
				

			 	
				
				  92
				

			 
	
				
				  Section 11.13. Severability
				

			 	
				
				   
				

			 	
				
				  92
				

			 
	
				
				  Section 11.14. Waiver of Jury
				  Trial
				

			 	
				
				   
				

			 	
				
				  92
				

			 
	 
	
				
				  ARTICLE TWELVE
				

			 
	
				
				  SECURITY INTERESTS
				

			 
	 	 	 
	
				
				  Section 12.01. Security
				  Interest
				

			 	
				
				   
				

			 	
				
				  92
				

			 
	
				
				  Section 12.02. Intercreditor
				  Agreement
				

			 	
				
				   
				

			 	
				
				  93
				

			 
	
				
				  Section 12.03. Recording and
				  Opinions
				

			 	
				
				   
				

			 	
				
				  93
				

			 
	
				
				  Section 12.04. Release of
				  Collateral
				

			 	
				
				   
				

			 	
				
				  94
				

			 
	
				
				  Section 12.05. Specified Releases of
				  Collateral
				

			 	
				
				   
				

			 	
				
				  94
				

			 
	
				
				  Section 12.06. Release upon
				  Satisfaction or Defeasance of all Outstanding Obligations
				

			 	
				
				   
				

			 	
				
				  95
				

			 
	
				
				  Section 12.07. Form and Sufficiency
				  of Release
				

			 	
				
				   
				

			 	
				
				  95
				

			 
	
				
				  Section 12.08. Purchaser
				  Protected
				

			 	
				
				   
				

			 	
				
				  96
				

			 
	
				
				  Section 12.09. Authorization of
				  Actions to Be Taken by the Collateral Agent Under the Security Documents

				

			 	
				
				   
				

			 	
				
				  96
				

			 
	
				
				  Section 12.10. Authorization of
				  Receipt of Funds by the Collateral Agent Under the Security Documents
				

			 	
				
				   
				

			 	
				
				  97
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		(iv)
	 

	 
		 
	 

	 
	 

	 

	 
		Table of Contents
	 

	 
		(continued)
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	 	
				
				  Page
				

			 
	
				
				  EXHIBITS

				

			 	
				
				   
				

			 	
				
				   
				

			 	 	
				
				   
				

			 
	
				
				  Exhibit A
				

			 	
				
				  -
				

			 	
				
				  Form of Initial Note
				

			 	 	
				
				  A-1
				

			 
	
				
				  Exhibit B
				

			 	
				
				  -
				

			 	
				
				  Form of Exchange Note
				

			 	 	
				
				  B-1
				

			 
	
				
				  Exhibit C-1
				

			 	
				
				  -
				

			 	
				
				  Form of Legend for Global
				  Notes
				

			 	 	
				
				  C-1-1
				

			 
	
				
				  Exhibit C-2
				

			 	
				
				  -
				

			 	
				
				  Form of Private Placement
				  Legend
				

			 	 	
				
				  C-2-1
				

			 
	
				
				  Exhibit D
				

			 	
				
				  -
				

			 	
				
				  Form of Certificate to Be Delivered
				  in Connection with
				

			 	 	
				
				   
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				  Transfers to Non-QIB Accredited
				  Investors
				

			 	 	
				
				  D-1
				

			 
	
				
				  Exhibit E
				

			 	
				
				  -
				

			 	
				
				  Form of Certificate to Be Delivered
				  in Connection with
				

			 	 	
				
				   
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				  Transfers Pursuant to Regulation
				  S
				

			 	 	
				
				  E-1
				

			 
	
				
				  NOTE:
				

			 	
				
				   
				

			 	
				
				  This Table of Contents shall not,
				  for any purpose, be deemed to be part of this Indenture.
				

			 	 	
				
				   
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		(v)
	 

	 
		 
	 

	 
	 

	 

	 
		INDENTURE, dated as of May 15, 2007, among
		Atlantic Express Transportation Corp., a New York corporation (the
		“Company”), the Guarantors (as herein defined) and The Bank
		of New York, a New York banking corporation, as Trustee (in such capacity, the
		“Trustee”) and Collateral Agent (in such capacity, the
		“Collateral Agent”).
	 

	 
		W
		I T
		N E
		S S
		E T
		H :
	 

	 
		WHEREAS, the Company and the Guarantors
		(with respect to the Guarantees) have duly authorized the creation of an issue
		of Senior Secured Floating Rate Notes due 2012 (the “Initial
		Notes”), and Senior Secured
		Floating Rate Exchange Notes due 2012 (the “Exchange Notes,” and the Exchange Notes collectively with the
		Initial Notes and any Additional Notes (as herein defined), the
		“Notes”) and the Guarantees (as herein defined) and, to
		provide therefor, the Company and the Guarantors have duly authorized the
		execution and delivery of this Indenture; and
	 

	 
		WHEREAS, all things necessary to make the
		Notes and Guarantees, when each are duly issued and executed by the Company and
		the Guarantors, as applicable, and authenticated and delivered hereunder, the
		valid obligations of each of the Company and the Guarantors, respectively, and
		to make this Indenture a valid and binding agreement of each of the Company and
		the Guarantors, have been done.
	 

	 
		NOW, THEREFORE, each party hereto agrees as
		follows for the benefit of the other parties and for the equal and ratable
		benefit of the Holders:
	 

	 
		ARTICLE ONE
	 

	 
		DEFINITIONS AND INCORPORATION BY
		REFERENCE
	 

	 
		Section 1.01. Definitions.
	 

	 
		“Acceleration Notice” has the meaning set forth in Section 6.03(a).
	 

	 
		“Acquired Indebtedness” means Indebtedness of a Person or any of its
		Subsidiaries existing at the time such Person becomes a Restricted Subsidiary
		of the Company or at the time it merges or consolidates with or into the
		Company or any of its Restricted Subsidiaries or assumed in connection with the
		acquisition of assets from such Person.
	 

	 
		“Additional Interest” has the meaning specified in the Registration
		Rights Agreement.
	 

	 
		“Additional Notes” has the meaning set forth in Section 2.02 and
		means any Notes that are not Exchange Notes issued after the Issue Date from
		time to time in accordance with the terms of this Indenture including, without
		limitation, the provisions of Sections
		2.02 and 4.12.
	 

	 
		“Administrative Agent” means, at any time, the Person serving at such
		time as the “Administrative Agent” under the Credit Agreement or any
		other representative of the lenders then most recently designated by a majority
		of the lenders under the Credit Agreement in a written notice delivered to the
		Collateral Agent and the Trustee.
	 

	 
		 
	 

	 
		 
	 

	 
	 

	 

	 
		“AETG” means
		Atlantic Express Transportation Group, Inc., a New York corporation and the
		parent of the Company.
	 

	 
		“Affiliate”
		means, with respect to any specified Person, any other Person who directly or
		indirectly through one or more intermediaries controls, or is controlled by, or
		is under common control with, such specified Person. The term
		“control” means the possession, directly or indirectly, of the power
		to direct or cause the direction of the management and policies of a Person,
		whether through the ownership of voting securities, by contract or otherwise;
		and the terms “controlling” and “controlled” have meanings
		correlative of the foregoing.
	 

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

	 
		“Agent Members” has the meaning set forth in Section 2.14(a)
		and means, with respect to the Depository, Euroclear or Clearstream, a Person
		who has an account with the Depository, Euroclear or Clearstream, respectively
		(and, with respect to the Depository, shall include Euroclear and
		Clearstream).
	 

	 
		“Applicable Procedures” means, with respect to any transfer or exchange
		of or for beneficial interests in any Global Note, the rules and procedures of
		the Depository, Euroclear and Clearstream that apply to such transfer or
		exchange.
	 

	 
		“Asset Acquisition” means (1) an Investment by the Company or any
		Restricted Subsidiary of the Company in any other Person pursuant to which such
		Person shall become a Restricted Subsidiary of the Company or any Restricted
		Subsidiary of the Company, or shall be merged with or into the Company or any
		Restricted Subsidiary of the Company, or (2) the acquisition by the Company or
		any Restricted Subsidiary of the Company of the assets of any Person (other
		than a Restricted Subsidiary of the Company) which constitute all or
		substantially all of the assets of such Person or comprise any division or line
		of business of such Person or any other properties or assets of such Person
		other than in the ordinary course of business.
	 

	 
		“Asset Sale”
		means any direct or indirect sale, issuance, conveyance, transfer, lease (other
		than operating leases entered into in the ordinary course of business),
		assignment or other transfer for value by the Company or any of its Restricted
		Subsidiaries (including any Sale and Leaseback Transaction) to any Person other
		than the Company or a Wholly Owned Subsidiary of the Company that is a
		Guarantor of: (1) any Capital Stock of any Restricted Subsidiary of the
		Company; or (2) any other property or assets of the Company or any of its
		Restricted Subsidiaries other than in the ordinary course of business;
		provided, however, that
		“Asset Sale” shall not include: (a) a transaction or series of
		related transactions for which the Company or its Restricted Subsidiaries
		receive aggregate consideration of less than $1.0 million; (b) the sale, lease,
		conveyance, disposition or other transfer of all or substantially all of the
		assets (determined on a consolidated basis) of the Company as permitted under
		Section 5.01; (c) any Restricted Payment permitted by
		Section 4.10 or that constitutes a Permitted Investment; (d) the
		sale of Cash Equivalents; (e) the sale or other disposition of used, worn out,
		obsolete or surplus assets; and (f) sales or grants of licenses to use the
		Company’s or any Restricted Subsidiary’s patents, trade secrets,
		know-how and technology to the extent that such license does not prohibit the
		licensor from using the patent, trade secret, know-how or technology or require
		any payments by the Company or its Restricted Subsidiaries for any such
		use.
	 

	 
		 
	 

	 
		 
	 

	 
		-2-
	 

	 
		 
	 

	 
	 

	 

	 
		“Authenticating Agent” has the meaning set forth in Section 2.02.
	 

	 
		“Bankruptcy Code” means the
		Bankruptcy Reform Act of 1978, as amended, and codified as 11 U.S.C.
		§§101 et seq.
	 

	 
		“Board of Directors” means, as to any Person, the board of directors
		(or equivalent governing body, partner or member) of such Person or any duly
		authorized committee thereof.
	 

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

	 
		“Business Day” means a day that is not a Legal Holiday.
	 

	 
		“Capital Stock” means:
	 

	 
		(1) with respect to any Person that is a
		corporation, any and all shares, interests, rights to purchase, warrants,
		options, participations or other equivalents (however designated and whether or
		not voting) of corporate stock, including each class of Common Stock and
		Preferred Stock of such Person; and
	 

	 
		(2) with respect to any Person that is not a
		corporation, any and all partnership, membership, limited liability company
		interests or other equity interests of such Person.
	 

	 
		“Capitalized Lease Obligation” means, as to any Person, the obligations of such
		Person under a lease that are required to be classified and accounted for as
		capital lease obligations under GAAP and, for purposes of this definition, the
		amount of such obligations at any date shall be the capitalized amount of such
		obligations at such date, determined in accordance with GAAP.
	 

	 
		“Cash Equivalents” means:
	 

	 
		(1) marketable direct obligations issued by,
		or unconditionally guaranteed by, the United States Government or issued by any
		agency thereof and backed by the full faith and credit of the United States, in
		each case maturing within one year from the date of acquisition thereof;

	 

	 
		(2) marketable direct obligations issued by
		any state of the United States of America or any political subdivision of any
		such state or any public instrumentality thereof maturing within one year from
		the date of acquisition thereof and, at the time of acquisition, having one of
		the two highest ratings obtainable from either S&P or Moody’s or, if
		Moody’s and S&P cease to exist, any other nationally recognized
		statistical rating organization designated by the Board of Directors of the
		Company;
	 

	 
		(3) commercial paper maturing no more than
		one year from the date it is created thereof and, at the time of acquisition,
		having a rating of at least A-1 from S&P or 
	 

	 
		 
	 

	 
		 
	 

	 
		-3-
	 

	 
		 
	 

	 
	 

	 

	 
		at least P-1 from Moody’s or, if
		Moody’s and S&P cease to exist, any other nationally recognized
		statistical rating organization designated by the Board of Directors of the
		Company;
	 

	 
		(4) time deposits, certificates of deposit
		or bankers’ acceptances maturing within one year from the date of
		acquisition thereof issued by any bank organized under the laws of the United
		States of America or any state thereof or the District of Columbia or any U.S.
		branch of a foreign bank having at the date of acquisition thereof combined net
		capital and surplus of not less than $250.0 million;
	 

	 
		(5) repurchase obligations with a term of
		not more than seven days for underlying securities of the types described in
		clause (1) above entered into with any bank meeting the
		qualifications specified in clause
		(4) above;
	 

	 
		(6) investments in money market funds which
		invest substantially all their assets in securities of the types described in
		clauses (1) through (5) above;
		and
	 

	 
		(7) overnight deposits and demand deposit
		accounts (in the respective local currencies) maintained in the ordinary course
		of business.
	 

	 
		“Change of Control” means the occurrence of one or more of the
		following events:
	 

	 
		(1) prior to the first public offering of
		common shares of the Company, the Permitted Holders cease to be the
		“beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the
		Exchange Act), directly or indirectly, of a majority in the aggregate of the
		total voting power of the Voting Stock of the Company;
	 

	 
		(2) after the first public offering of
		common shares of the Company after the Issue Date, any “person” (as
		such term is used in Sections 13(d) and 14(d) of the Exchange Act), other than
		one or more Permitted Holders, is or becomes the beneficial owner (as defined
		in clause (1) above, except that for purposes of this clause (2) such
		person shall be deemed to have “beneficial ownership” of all shares
		that any such person has the right to acquire, whether such right is
		exercisable immediately or only after the passage of time), directly or
		indirectly, of more than 50% of the total voting power of the Voting Stock of
		the Company;
	 

	 
		(3) individuals who on the Issue Date
		constituted the Board of Directors of the Company (together with any new
		directors whose election by such Board of Directors of the Company or whose
		nomination for election by the stockholders of the Company was approved by a
		vote of a majority of the directors of the Company then still in office who
		were either directors on the Issue Date or whose election or nomination for
		election was previously so approved) cease for any reason to constitute a
		majority of the Board of Directors of the Company then in office;
	 

	 
		(4) the adoption of a plan relating to the
		liquidation or dissolution of the Company; or
	 

	 
		 
	 

	 
		 
	 

	 
		-4-
	 

	 
		 
	 

	 
	 

	 

	 
		(5) the sale of all or substantially all the
		assets of the Company (determined on a consolidated basis) to another Person
		(other than, in all such cases, a Person that is controlled by one or more of
		the Permitted Holders), other than a transaction following which each
		transferee becomes an obligor in respect of the Notes and a Subsidiary of the
		transferor of such assets.
	 

	 
		“Change of Control Date” has the meaning set forth in Section 4.15(b).
	 

	 
		“Change of Control Offer” has the meaning set forth in Section 4.15(a).
	 

	 
		“Change of Control Payment Date” has the meaning set forth in Section 4.15(b)(2).
	 

	 
		“Clearstream” means Clearstream Banking, societe
		anonyme.
	 

	 
		“Collateral”
		shall mean collateral as such term is defined in the Security Agreement, all
		property mortgaged under the Mortgages and any other property, whether now
		owned or hereafter acquired, upon which a Lien securing the Obligations is
		granted or purported to be granted under any Collateral Agreement;
		provided, that “Collateral” shall not include any
		Excluded Assets.
	 

	 
		“Collateral Agent” means the collateral agent for the Trustee and
		the Holders under the Security Documents, which shall initially be The Bank of
		New York, a New York banking corporation.
	 

	 
		“Commission”
		means the Securities and Exchange Commission.
	 

	 
		“Commodity Agreement” means any commodity futures contract, commodity
		option or other similar agreement or arrangement entered into by the Company or
		any of the Company’s Restricted Subsidiaries designed to protect the
		Company or any of its Restricted Subsidiaries against fluctuations in the price
		of commodities at the time used in the ordinary course of the business of the
		Company or the business of any of its Restricted Subsidiaries.
	 

	 
		“Common Stock” of any Person means any and all shares, interests
		or other participations in, and other equivalents (however designated and
		whether voting or non-voting) of such Person’s common shares, whether
		outstanding on the Issue Date or issued after the Issue Date, and includes,
		without limitation, all series and classes of such common shares.
	 

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

	 
		“Consolidated EBITDA” means, with respect to any Person, for any
		period, the sum (without duplication) of:
	 

	 
		(1) Consolidated Net Income; and
	 

	 
		(2) to the extent Consolidated Net Income
		has been reduced thereby:
	 

	 
		 
	 

	 
		 
	 

	 
		-5-
	 

	 
		 
	 

	 
	 

	 

	 
		(a) all income taxes of such Person and its
		Restricted Subsidiaries paid or accrued in accordance with GAAP for such
		period;
	 

	 
		(b) Consolidated Interest Expense,
		amortization expense and depreciation expense; 
	 

	 
		(c) Consolidated Non-cash Charges less any
		non-cash items increasing Consolidated Net Income for such period; and
	 

	 
		(d) restructuring and reorganization costs,
		including charges, fees, expenses, exit payments and all other items related to
		the Plan of Reorganization,
	 

	 
		less (without duplication), to the extent
		Consolidated Net Income has been increased, forgiveness of indebtedness from
		continuing operations relating to the Plan of Reorganization; in each case, on
		a consolidated basis for such Person and its Restricted Subsidiaries and
		determined in accordance with GAAP.
	 

	 
		“Consolidated Fixed Charge Coverage Ratio” means, with respect to any Person, the ratio of
		Consolidated EBITDA of such Person during the four consecutive full fiscal
		quarters (the “Four Quarter
		Period”) most recently ending on
		or prior to the date of the transaction or event giving rise to the need to
		calculate the Consolidated Fixed Charge Coverage Ratio for which financial
		statements are available (the “Transaction Date”) to Consolidated Fixed Charges of such Person for
		the Four Quarter Period. In addition to and without limitation of the
		foregoing, for purposes of this definition, “Consolidated EBITDA” and
		“Consolidated Fixed Charges” shall be calculated after giving effect
		on a pro forma basis for
		the period of such calculation to:
	 

	 
		(1) the incurrence or repayment of any
		Indebtedness of such Person or any of its Restricted Subsidiaries (and the
		application of the proceeds thereof) giving rise to the need to make such
		calculation and any incurrence or repayment of other Indebtedness (and the
		application of the proceeds thereof), other than the incurrence or repayment of
		Indebtedness in the ordinary course of business for working capital purposes
		pursuant to working capital facilities, occurring during the Four Quarter
		Period or at any time subsequent to the last day of the Four Quarter Period and
		on or prior to the Transaction Date, as if such incurrence or repayment, as the
		case may be (and the application of the proceeds thereof), occurred on the
		first day of the Four Quarter Period; and
	 

	 
		(2) any Asset Sale or other disposition or
		Asset Acquisition (including, without limitation, any Asset Acquisition giving
		rise to the need to make such calculation as a result of such Person or one of
		its Restricted Subsidiaries (including any Person who becomes a Restricted
		Subsidiary as a result of any such Asset Acquisition) incurring, assuming or
		otherwise being liable for Acquired Indebtedness and also including any
		Consolidated EBITDA occurring during the Four Quarter Period or at any time
		subsequent to the last day of the Four Quarter Period and on or prior to the
		Transaction Date), as if such Asset Sale or other disposition or Asset
		Acquisition (including the incurrence, assumption or liability for any such
		Indebtedness or Acquired Indebtedness) occurred on the first day of the Four
		Quarter Period; provided that the Consolidated EBITDA of any Person acquired
		shall be included only to the extent includible pursuant 
	 

	 
		 
	 

	 
		 
	 

	 
		-6-
	 

	 
		 
	 

	 
	 

	 

	 
		to the definition of “Consolidated Net
		Income.” If such Person or any of its Restricted Subsidiaries directly or
		indirectly guarantees Indebtedness of a third Person, the immediately preceding
		sentence shall give effect to the incurrence of such guaranteed Indebtedness as
		if such Person or any Restricted Subsidiary of such Person had directly
		incurred or otherwise assumed such guaranteed Indebtedness.
	 

	 
		Furthermore, in calculating
		“Consolidated Fixed Charges” for purposes of determining the
		denominator (but not the numerator) of this “Consolidated Fixed Charge
		Coverage Ratio”:
	 

	 
		(1) interest on outstanding Indebtedness
		determined on a fluctuating basis as of the Transaction Date (including
		Indebtedness actually incurred on the Transaction Date) and which will continue
		to be so determined thereafter shall be deemed to have accrued at a fixed rate
		per annum equal to the average rate of interest on such Indebtedness during the
		Four Quarter Period ending on or prior to the Transaction Date; and
	 

	 
		(2) notwithstanding clause (1)
		above, interest on Indebtedness determined on a fluctuating basis, to the
		extent such interest is covered by agreements relating to Interest Swap
		Obligations, shall be deemed to accrue at the rate per annum resulting after
		giving effect to the operation of such agreements.
	 

	 
		“Consolidated Fixed Charges” means, with respect to any Person for any period,
		the sum, without duplication, of:
	 

	 
		(1) Consolidated Interest Expense;
		plus
	 

	 
		(2) the product of (x) the amount of all
		dividend payments on any series of Preferred Stock of such Person or its
		Restricted Subsidiaries (other than dividends paid solely in Qualified Capital
		Stock) paid, accrued or scheduled to be paid or accrued during such period,
		times (y) a fraction, the numerator of which is one and the
		denominator of which is one minus the then
		current effective consolidated federal, state and local tax rate of such
		Person, expressed as a decimal.
	 

	 
		“Consolidated Interest Expense” means, with respect to any Person for any period,
		the sum, without duplication, of the aggregate of the interest expense
		(including payment-in-kind interest) of such Person and its Restricted
		Subsidiaries for such period, on a consolidated basis, as determined in
		accordance with GAAP, and including, without duplication, (a) all amortization
		of original issue discount; (b) the interest component of Capitalized Lease
		Obligations paid, accrued and/or scheduled to be paid or accrued by such Person
		and its Restricted Subsidiaries during such period; and (c) net cash costs
		under all Interest Swap Obligations (including amortization of fees), and
		excluding amortization or write-off of deferred financing costs and debt
		issuance costs of such Person and its consolidated Restricted Subsidiaries
		during such period and any premium or penalty paid in connection with redeeming
		or retiring Indebtedness of such Person and its consolidated Restricted
		Subsidiaries prior to the stated maturity thereof pursuant to the agreements
		governing such Indebtedness.
	 

	 
		“Consolidated Net Income” means, with respect to any Person, for any
		period, the aggregate net income (or loss) of such Person and its Restricted
		Subsidiaries for such period on a 
	 

	 
		 
	 

	 
		 
	 

	 
		-7-
	 

	 
		 
	 

	 
	 

	 

	 
		consolidated basis, determined in accordance
		with GAAP; provided, however, that
		there shall be excluded therefrom:
	 

	 
		(1) after-tax gains and losses from Asset
		Sales (without regard to the $1.0 million limitation set forth in the
		definition thereof) or abandonments or reserves relating thereto;
	 

	 
		(2) after-tax items classified as
		extraordinary or nonrecurring gains;
	 

	 
		(3) the net income (but not loss) of any
		Restricted Subsidiary of the referent Person to the extent that the declaration
		of dividends or similar distributions by that Restricted Subsidiary of that
		income is restricted by a contract, operation of law or otherwise;
	 

	 
		(4) the net income of any Person, other than
		a Restricted Subsidiary of the referent Person, except to the extent of cash
		dividends or distributions paid to the referent Person or to a Wholly Owned
		Subsidiary of the referent Person by such Person;
	 

	 
		(5) any restoration to income of any
		material contingency reserve, except to the extent that provision for such
		reserve was made out of Consolidated Net Income accrued at any time following
		the Issue Date;
	 

	 
		(6) income or loss attributable to
		discontinued operations (including, without limitation, operations disposed of
		during such period whether or not such operations were classified as
		discontinued);
	 

	 
		(7) all gains and losses realized on or
		because of the purchase or other acquisition by such Person or any of its
		Restricted Subsidiaries of any securities of such Person or any of its
		Restricted Subsidiaries; and
	 

	 
		(8) in the case of a successor to the
		referent Person by consolidation or merger or as a transferee of the referent
		Person’s assets, any earnings of the successor corporation prior to such
		consolidation, merger or transfer of assets.
	 

	 
		“Consolidated Net Worth” of any Person means the consolidated
		stockholders’ equity of such Person, determined on a consolidated basis in
		accordance with GAAP, less (without duplication) amounts attributable to
		Disqualified Capital Stock of such Person.
	 

	 
		“Consolidated Non-cash Charges” means, with respect to any Person, for any
		period, the aggregate depreciation, amortization and other non-cash expenses of
		such Person and its Restricted Subsidiaries reducing Consolidated Net Income of
		such Person and its Restricted Subsidiaries for such period, determined on a
		consolidated basis in accordance with GAAP (excluding any such charges
		constituting an extraordinary item or loss or any such charge which requires an
		accrual of or a reserve for cash charges for any future period).
	 

	 
		“Corporate Trust Office” means the office of the Trustee at which the
		corporate trust business of the Trustee shall, at any particular time, be
		principally administered.
	 

	 
		 
	 

	 
		 
	 

	 
		-8-
	 

	 
		 
	 

	 
	 

	 

	 
		“Covenant Defeasance” has the meaning set forth in Section 8.01(c).
	 

	 
		“Credit Agreement” means the Third Amended and Restated Credit
		Agreement, dated as of the Issue Date, between the Company and the lenders
		party thereto (together with their successors and assigns, the
		“Lenders”) and Wachovia Bank, National Association, as
		Administrative Agent, together with the related documents thereto (including,
		without limitation, any guarantee agreements and security documents), in each
		case as such agreements may be amended, restated, supplemented, refinanced,
		replaced, refunded or otherwise modified from time to time (including any
		agreement increasing the amount of available borrowings thereunder,
		provided that such increase in borrowings is permitted under the
		definition of the term “Permitted Indebtedness”, or adding Restricted
		Subsidiaries of the Company as additional borrowers or guarantors thereunder),
		whether by the same or any other agent, lender or group of lenders.
	 

	 
		“Currency Agreement” means any foreign exchange contract, currency
		swap agreement or other similar agreement or arrangement designed to protect
		the Company or any of its Restricted Subsidiaries against fluctuations in
		currency values.
	 

	 
		“Custodian”
		means any receiver, trustee, assignee, liquidator, sequestrator or similar
		official under any Bankruptcy Code.
	 

	 
		“Default”
		means an event or condition the occurrence of which is, or with the lapse of
		time or the giving of notice or both would be, an Event of Default.
	 

	 
		“Depository”
		means The Depository Trust Company, its nominees and successors.
	 

	 
		“Disqualified Capital Stock” means that portion of any Capital Stock which, by
		its terms (or by the terms of any security into which it is convertible or for
		which it is exchangeable at the option of the holder thereof), or upon the
		happening of any event (other than an event which would constitute a Change of
		Control), matures or is mandatorily redeemable, pursuant to a sinking fund
		obligation or otherwise, or is redeemable at the sole option of the holder
		thereof (except in each case, upon the occurrence of a Change of Control) on or
		prior to the first anniversary of the final maturity date of the Notes for cash
		or is convertible into or exchangeable for debt securities of the Company or
		its Subsidiaries at any time prior to such anniversary.
	 

	 
		“Domestic Restricted Subsidiary” means, with respect to any Person, a Domestic
		Subsidiary of such Person that is a Restricted Subsidiary of such
		Person.
	 

	 
		“Domestic Subsidiary” means, with respect to any Person, a Subsidiary
		of such Person that is not a Foreign Subsidiary of such Person.
	 

	 
		“Equity Offering” means any public offering of Qualified Capital
		Stock of the Company.
	 

	 
		“Euroclear”
		means Euroclear Bank S.A./N.V., as operator of the Euroclear system.
	 

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

	 
		 
	 

	 
		 
	 

	 
		-9-
	 

	 
		 
	 

	 
	 

	 

	 
		“Exchange Act” means the Securities Exchange Act of 1934, as
		amended, or any successor statute or statutes thereto.
	 

	 
		“Exchange Notes” has the meaning set forth in the preamble to this
		Indenture and means the Notes, if any, issued under Section 2.02
		pursuant to an Exchange Offer.
	 

	 
		“Exchange Offer” means an exchange offer that may be made by the
		Company, pursuant to the Registration Rights Agreement, to exchange for any and
		all the Notes a like aggregate principal amount of notes having substantially
		identical terms to the Notes registered under the Securities Act.
	 

	 
		“Excluded Assets” means each of the following:
	 

	 
		(1) any
		lease, license, contract, property right or agreement to which the Company or
		any Guarantor is a party or any of its rights or interests thereunder if and
		only for so long as the grant of a security interest under the Security
		Documents shall constitute or result in a breach, termination or default under
		any such lease, license, contract, property right or agreement (other than to
		the extent that any such term would be rendered ineffective pursuant to
		Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code of any
		relevant jurisdiction or any other applicable law or principles of equity);
		provided that such lease, license, contract, property right or agreement shall
		be an Excluded Asset only to the extent and for so long as the consequences
		specified above shall result and shall cease to be an Excluded Asset and shall
		become subject to the security interest granted under the Security Documents,
		immediately and automatically, at such time as such consequences shall no
		longer result;
	 

	 
		(2) real
		property owned or leased by the Company or any Guarantor (other than the
		Pledged Real Estate);
	 

	 
		(3) the
		Capital Stock of any Domestic Subsidiary, Foreign Subsidiary or other Affiliate
		of the Company or any Guarantor, except as required under the second paragraph
		under Section 4.18;
	 

	 
		(4) Motor Vehicles owned by the Company or any Guarantor
		that are (a) the subject of Permitted Liens described in clause (7) of
		the definition thereof that secure Purchase Money Indebtedness for so long as
		such Permitted Liens are in effect and the Purchase Money Indebtedness secured
		thereby otherwise prohibits any other Liens thereon, or (b) from model year
		1990 or earlier; and
	 

	 
		(5) any
		other property or assets not described in clauses (1)
		through (4) above (other than the Motor Vehicles and any deposit
		account that is not solely used for payroll purposes) in which a security
		interest cannot be perfected by the filing of a financing statement under the
		Uniform Commercial Code of the relevant jurisdiction, so long as the aggregate
		Fair Market Value of all property excluded under this clause (5) does
		not at any one time exceed $1.0 million plus, in the case of any such property
		comprised of deposit accounts that is used solely for payroll purposes, the
		dollar amount of any payments expected to be disbursed by the Company or the
		applicable Guarantor from such deposit account for payroll within three
		business days following deposit therein.
	 

	 
		 
	 

	 
		 
	 

	 
		-10-
	 

	 
		 
	 

	 
	 

	 

	 
		“Fair Market Value” means, with respect to any asset or property, the
		price which could be negotiated in an arm’s-length, free market
		transaction, for cash, between a willing seller and a willing and able buyer,
		neither of whom is under undue pressure or compulsion to complete the
		transaction. Fair Market Value shall be determined by the Board of Directors of
		the Company acting reasonably and in good faith and shall be evidenced by a
		Board Resolution of the Board of Directors of the Company, delivered to the
		Trustee.
	 

	 
		“Foreign Restricted Subsidiary” means, with respect to any Person, a Foreign
		Subsidiary of such Person that is a Restricted Subsidiary of such
		Person.
	 

	 
		“Foreign Subsidiary” means, with respect to any Person, any Subsidiary
		of such Person (1) which is organized under the laws of any jurisdiction
		outside of the United States of America, (2) which conducts the major portion
		of its business outside of the United States of America and (3) all or
		substantially all of the property and assets of which are located outside of
		the United States of America.
	 

	 
		“Four Quarter Period” has the meaning set forth in the definition of
		the term “Consolidated Fixed Charge Coverage Ratio.”
	 

	 
		“GAAP” means
		accounting principles generally accepted in the United States set forth in the
		opinions and pronouncements of the Accounting Principles Board of the American
		Institute of Certified Public Accountants and statements and pronouncements of
		the Financial Accounting Standards Board or in such other statements by such
		other entity as may be approved by a significant segment of the accounting
		profession of the United States, which are in effect as of the Issue
		Date.
	 

	 
		“Global Note” has the meaning set forth in Section 2.01.
	 

	 
		“Guarantee”
		has the meaning set forth in Section
		10.01.
	 

	 
		“Guarantor”
		means (1) all existing Domestic Subsidiaries of the Company (other than
		Immaterial Subsidiaries) and (2) each of the Company’s Domestic Restricted
		Subsidiaries that in the future executes a supplemental indenture in which such
		Domestic Restricted Subsidiary agrees to be bound by the terms of this
		Indenture as a Guarantor; provided that
		any Person constituting a Guarantor as described above shall cease to
		constitute a Guarantor when its respective Guarantee is released in accordance
		with the terms of this Indenture.
	 

	 
		“Guarantor First Lien Collateral” has, with respect to any Guarantor, the meaning
		ascribed to the term “Noteholder Collateral” in the Intercreditor
		Agreement, solely to the extent it relates to such Guarantor.
	 

	 
		“Guarantor Second Lien Collateral” means, with respect to any Guarantor, the
		Collateral of such Guarantor that is not Guarantor First Lien
		Collateral.
	 

	 
		“Holder”
		means the Person in whose name a Note is registered on the registrar’s
		books.
	 

	 
		“Immaterial Subsidiary” means, on any date of determination, any Domestic
		Restricted Subsidiary of the Company that has (1) assets with a Fair Market
		Value as of such date of less 
	 

	 
		 
	 

	 
		 
	 

	 
		-11-
	 

	 
		 
	 

	 
	 

	 

	 
		than $50,000 and (2) revenues not exceeding
		$50,000 during the 12 consecutive months preceding such date; provided, that
		(a) the aggregate Fair Market Value as of such date of all assets of all
		Immaterial Subsidiaries shall not exceed $250,000 and (b) the aggregate amount
		of revenues of all Immaterial Subsidiaries during the 12 consecutive months
		preceding such date shall not exceed $250,000. For purposes of the foregoing,
		the date of determination shall be the last day of the most recently completed
		full fiscal quarter of the Company for which financial statements are
		available.
	 

	 
		“incur” has
		the meaning set forth in Section
		4.12.
	 

	 
		“Indebtedness” means with respect to any Person, without
		duplication:
	 

	 
		(1) all Obligations of such Person for
		borrowed money;
	 

	 
		(2) all Obligations of such Person evidenced
		by bonds, debentures, notes or other similar instruments;
	 

	 
		(3) all Capitalized Lease Obligations of
		such Person;
	 

	 
		(4) all Obligations of such Person issued or
		assumed as the deferred purchase price of property, all conditional sale
		obligations and all Obligations under any title retention agreement (but
		excluding trade accounts payable and other accrued liabilities arising in the
		ordinary course of business that are not overdue by 90 days or more or are
		being contested in good faith by appropriate proceedings promptly instituted
		and diligently conducted and any deferred purchase price represented by
		earn-outs consistent with the Company’s past practice);
	 

	 
		(5) all Obligations for the reimbursement of
		any obligor on any letter of credit, banker’s acceptance or similar credit
		transaction, whether or not then due;
	 

	 
		(6) guarantees and other contingent
		obligations in respect of Indebtedness referred to in clauses (1)
		through (5) above and clause (8)
		below;
	 

	 
		(7) all Obligations of any other Person of
		the type referred to in clauses
		(1) through (6) above which
		are secured by any Lien on any property or asset of such Person, the amount of
		such Obligation being deemed to be the lesser of the Fair Market Value of such
		property or asset or the amount of the Obligation so secured;
	 

	 
		(8) all Interest Swap Obligations and all
		Obligations under Currency Agreements of such Person; and
	 

	 
		(9) all Disqualified Capital Stock issued by
		such Person with the amount of Indebtedness represented by such Disqualified
		Capital Stock being equal to the greater of its voluntary or involuntary
		liquidation preference and its maximum fixed repurchase price, but excluding
		accrued dividends, if any.
	 

	 
		Notwithstanding the foregoing, insurance
		financing payable shall not be deemed to be Indebtedness.
	 

	 
		 
	 

	 
		 
	 

	 
		-12-
	 

	 
		 
	 

	 
	 

	 

	 
		For purposes hereof, the “maximum fixed
		repurchase price” of any Disqualified Capital Stock which does not have a
		fixed repurchase price shall be calculated in accordance with the terms of such
		Disqualified Capital Stock as if such Disqualified Capital Stock were purchased
		on any date on which Indebtedness shall be required to be determined pursuant
		to this Indenture, and if such price is based upon, or measured by, the Fair
		Market Value of such Disqualified Capital Stock, such Fair Market Value shall
		be determined reasonably and in good faith by the Board of Directors of the
		issuer of such Disqualified Capital Stock.
	 

	 
		“Indenture”
		means this Indenture, as amended or supplemented from time to time in
		accordance with the terms hereof.
	 

	 
		“Independent Financial Institution” means a nationally-recognized accounting,
		appraisal or investment banking firm: (1) which does not, and whose directors,
		officers, and employees or Affiliates do not, have a direct or indirect
		financial interest in the Company; and (2) which, in the judgment of the Board
		of Directors of the Company, is otherwise independent and qualified to perform
		the task for which it is to be engaged.
	 

	 
		“Initial Notes” has the meaning set forth in the preamble to this
		Indenture.
	 

	 
		“Initial Purchaser” means Jefferies & Company, Inc.
	 

	 
		“Institutional Accredited Investor” means an institution that is an “accredited
		investor” as that term is defined in Rule 501(a)(1), (2), (3) or (7) under
		the Securities Act.
	 

	 
		“Intercreditor Agreement” means the Intercreditor Agreement between the
		Administrative Agent and the Collateral Agent, dated as of the Issue Date, as
		the same may be amended, supplemented, modified or replaced from time to time;
		provided that any replacement thereof shall be substantially
		similar to the Intercreditor Agreement so replaced.
	 

	 
		“Interest Payment Date” means the stated maturity of an installment of
		interest on the Notes.
	 

	 
		“Interest Swap Obligations” means the obligations of any Person pursuant to
		any arrangement with any other Person, whereby, directly or indirectly, such
		Person is entitled to receive from time to time periodic payments calculated by
		applying either a floating or a fixed rate of interest on a stated notional
		amount in exchange for periodic payments made by such other Person calculated
		by applying a fixed or a floating rate of interest on the same notional amount
		and shall include, without limitation, interest rate swaps, caps, floors,
		collars and similar agreements.
	 

	 
		“Investment”
		means, with respect to any Person, any direct or indirect loan or other
		extension of credit (including, without limitation, a guarantee) or capital
		contribution to (by means of any transfer of cash or other property to others
		or any payment for property or services for the account or use of others), or
		any purchase or acquisition for value by such Person of any Capital Stock,
		bonds, notes, debentures or other securities or evidences of Indebtedness
		issued by, any Person. “Investment” shall exclude (a) extensions of
		trade credit by the Company and its Restricted Subsidiaries on commercially
		reasonable terms in accordance with normal trade practices of the Company and
		(b) commission, travel and similar advances to officers and 
	 

	 
		 
	 

	 
		 
	 

	 
		-13-
	 

	 
		 
	 

	 
	 

	 

	 
		employees of such Person made in the
		ordinary course of business. For the purposes of Section 4.10 hereof, (i)
		“Investment” shall include and be valued at the Fair Market Value of
		the net assets of any Restricted Subsidiary at the time that such Restricted
		Subsidiary is designated an Unrestricted Subsidiary and shall exclude the Fair
		Market Value of the net assets of any Unrestricted Subsidiary at the time that
		such Unrestricted Subsidiary is designated a Restricted Subsidiary and (ii) the
		amount of any Investment shall be the original cost of such Investment plus the
		cost of all additional Investments by the Company or any of its Restricted
		Subsidiaries, without any adjustments for increases or decreases in value, or
		write-ups, write-downs or write-offs with respect to such Investment, reduced
		by the payment of dividends or distributions in connection with such Investment
		or any other amounts received in respect of such Investment; provided that no
		such payment of dividends or distributions or receipt of any such other amounts
		shall reduce the amount of any Investment if such payment of dividends or
		distributions or receipt of any such amounts would be included in Consolidated
		Net Income.
	 

	 
		“Issue Date”
		means May 15, 2007, the date of original issuance of the Notes.
	 

	 
		“Legal Defeasance” has the meaning set forth in Section 8.01(b).
	 

	 
		“Legal Holiday” has the meaning set forth in Section 11.07.
	 

	 
		“Lenders”
		has the meaning set forth in the definition of the term “Credit
		Agreement.”
	 

	 
		“Lien” means
		any lien, mortgage, deed of trust, pledge, security interest, charge or
		encumbrance of any kind (including any conditional sale or other title
		retention agreement, any lease in the nature thereof and any agreement to give
		any security interest).
	 

	 
		“Management Agreement” means the Advisory Services Agreement, dated
		December 24, 2003, by and among AETG, the Company and GSCP, Inc.
	 

	 
		“Maturity Date” means April 15, 2012.
	 

	 
		“Moody’s” means Moody’s Investors Service, Inc.

	 

	 
		“Mortgages”
		means the mortgages, deeds of trust, deeds to secure debt or other similar
		documents delivered by the Company or any of its Domestic Restricted
		Subsidiaries pursuant to the terms of this Indenture which create, in favor of
		the Collateral Agent, Liens on any fee interest in Pledged Real Estate as
		collateral security for the payment obligations of the Company under this
		Indenture and Notes or of such Domestic Restricted Subsidiary under its
		Guarantee, as the case may be.
	 

	 
		“Motor Vehicles” has the meaning set forth in the Security
		Agreement.
	 

	 
		“Net Cash Proceeds” means, with respect to any Asset Sale, the
		proceeds in the form of cash or Cash Equivalents including payments in respect
		of deferred payment obligations when received in the form of cash or Cash
		Equivalents (other than the portion of any such deferred payment constituting
		interest) received by the Company or any of its Restricted Subsidiaries from
		such Asset Sale net of:
	 

	 
		 
	 

	 
		 
	 

	 
		-14-
	 

	 
		 
	 

	 
	 

	 

	 
		(1) reasonable out-of-pocket expenses and
		fees relating to such Asset Sale (including, without limitation, legal,
		accounting and investment banking fees and sales commissions);
	 

	 
		(2) all taxes and other costs and expenses
		actually paid or estimated by the Company (in good faith) to be payable in cash
		in connection with such Asset Sale;
	 

	 
		(3) repayment of Indebtedness that is
		secured by the property or assets that are the subject of such Asset Sale and
		that is required to be repaid in connection with such Asset Sale; and
	 

	 
		(4) appropriate amounts to be provided by
		the Company or any Restricted Subsidiary, as the case may be, as a reserve, in
		accordance with GAAP, against any liabilities associated with such Asset Sale
		and retained by the Company or any Restricted Subsidiary, as the case may be,
		after such Asset Sale, including, without limitation, pension and other
		post-employment benefit liabilities, liabilities related to environmental
		matters and liabilities under any indemnification obligations associated with
		such Asset Sale;
	 

	 
		provided, however, that
		if, after the payment of all taxes with respect to such Asset Sale, the amount
		of estimated taxes, if any, pursuant to clause (2) above
		exceeded the tax amount actually paid in cash in respect of such Asset Sale,
		the aggregate amount of such excess shall, at such time, constitute Net Cash
		Proceeds.
	 

	 
		“Net Proceeds Offer” has the meaning set forth in Section 4.16.
	 

	 
		“Net Proceeds Offer Amount” has the meaning set forth in Section 4.16.
	 

	 
		“Net Proceeds Offer Payment Date” has the meaning set forth in Section 4.16.
	 

	 
		“Net Proceeds Offer Trigger Date” has the meaning set forth in Section 4.16.
	 

	 
		“Non-U.S. Person” means a Person who is not a U.S. person, as
		defined in Regulation S.
	 

	 
		“Notes” has
		the meaning set forth in the preamble to this Indenture and means the Initial
		Notes, the Additional Notes, if any, and the Exchange Notes treated as a single
		class of securities, as amended or supplemented from time to time in accordance
		with the terms hereof, that are issued pursuant to this Indenture.
	 

	 
		“Obligations” means all obligations for principal, premium,
		interest, Additional Interest, penalties, fees, indemnifications,
		reimbursements, damages and other liabilities payable under the documentation
		governing any Indebtedness (including, without limitation, in the case of
		Obligations in respect of the Notes, all interest accrued thereon after the
		commencement of any bankruptcy, insolvency or liquidation proceeding at the
		rate, including any applicable post-default rate specified in this Indenture
		and the Notes, even if such interest is not enforceable, allowable or allowed
		as a claim in such proceeding).
	 

	 
		 
	 

	 
		 
	 

	 
		-15-
	 

	 
		 
	 

	 
	 

	 

	 
		“Offering Circular” means the offering circular of the Company dated
		May 1, 2007 with respect to the offer and sale of the Initial Notes.
	 

	 
		“Officer”
		means, with respect to any Person, the Chairman of the Board, the Chief
		Executive Officer, the President, any Vice President, the Chief Financial
		Officer, the Treasurer, the Controller or the Secretary of such Person, or any
		other officer designated by the Board of Directors serving in a similar
		capacity.
	 

	 
		“Officers’ Certificate” means, with respect to any Person, a certificate
		signed by two Officers or by an Officer and either an Assistant Treasurer or an
		Assistant Secretary of such Person and otherwise complying with the
		requirements of Sections
		11.04 and 11.05, as they
		relate to the making of an Officers’ Certificate.
	 

	 
		“Opinion of Counsel” means a written opinion from legal counsel, who
		may be counsel for the Company and who is reasonably acceptable to the Trustee,
		complying with the requirements of Sections 11.04
		and 11.05, as they relate to the giving of an Opinion of
		Counsel.
	 

	 
		“Paying Agent” has the meaning set forth in Section 2.03.
	 

	 
		“Permitted Amount” means an amount equal to (i) $150,000 for fiscal
		year 2008, and (ii) for each fiscal year thereafter, 1.05 times the Permitted
		Amount for the immediately preceding fiscal year.
	 

	 
		“Permitted Holders” means GSCP (NJ), Inc., a Delaware corporation,
		and its Affiliates.
	 

	 
		“Permitted Indebtedness” means, without duplication, each of the
		following:
	 

	 
		(1) Indebtedness under the Notes issued on
		the Issue Date or in the Exchange Offer with respect to such Notes issued on
		the Issue Date in an aggregate outstanding principal amount not to exceed
		$185.0 million and the related Guarantees;
	 

	 
		(2) Indebtedness incurred pursuant to the
		Credit Agreement in an aggregate principal amount at any time outstanding not
		to exceed $35.0 million;
	 

	 
		(3) other Indebtedness of the Company and
		its Restricted Subsidiaries outstanding on the Issue Date (other than
		Indebtedness outstanding under the Credit Agreement);
	 

	 
		(4) Interest Swap Obligations of the Company
		or any of its Restricted Subsidiaries covering Indebtedness of the Company or
		any of its Restricted Subsidiaries; provided, however, that such Interest Swap
		Obligations are entered into for the purpose of fixing or hedging interest
		rates with respect to any fixed or variable rate Indebtedness that is permitted
		by this Indenture to be outstanding to the extent that the notional amount of
		any such Interest Swap Obligation does not exceed, at the time of the
		incurrence thereof, the principal amount of Indebtedness to which such Interest
		Swap Obligation relates;
	 

	 
		 
	 

	 
		-16-
	 

	 
	 

	 

	 
		(5) Indebtedness of a Restricted Subsidiary
		of the Company to the Company or to another Restricted Subsidiary for so long
		as such Indebtedness is held by the Company or a Restricted Subsidiary of the
		Company, in each case subject to no Lien by anyone other than the Company;
		provided that (a) any such Indebtedness is subordinated, pursuant to a written
		agreement, to such Subsidiary’s Obligations under this Indenture and its
		Guarantee and (b) if as of any date any Person other than the Company or a
		Guarantor owns or holds any such Indebtedness or holds a Lien in respect of
		such Indebtedness, such date shall be deemed the incurrence of Indebtedness not
		constituting Permitted Indebtedness by the issuer of such Indebtedness (unless
		such Indebtedness may otherwise be incurred pursuant to the terms of this
		Indenture);
	 

	 
		(6) Indebtedness of the Company to a
		Restricted Subsidiary of the Company for so long as such Indebtedness is held
		by a Restricted Subsidiary of the Company, in each case subject to no Lien;
		provided that (a) any such Indebtedness is subordinated, pursuant to a written
		agreement by the holder thereof, to the Company’s obligations under this
		Indenture and the Notes and (b) if as of any date any Person other than a
		Restricted Subsidiary owns or holds any such Indebtedness or any Person holds a
		Lien in respect of such Indebtedness, such date shall be deemed the incurrence
		of Indebtedness not constituting Permitted Indebtedness by the Company (unless
		such Indebtedness may otherwise be incurred pursuant to the terms of this
		Indenture);
	 

	 
		(7) Indebtedness arising from the honoring
		by a bank or other financial institution of a check, draft or similar
		instrument inadvertently (except in the case of daylight overdrafts) drawn
		against insufficient funds in the ordinary course of business; provided,
		however, that such Indebtedness is extinguished within three Business Days of
		incurrence;
	 

	 
		(8) Indebtedness of the Company or any of
		its Restricted Subsidiaries represented by (i) letters of credit for the
		account of the Company or such Restricted Subsidiary, as the case may be, in
		order to provide security for performance bonds, bankers’ acceptances,
		surety or appeal bonds, workers’ compensation claims, automobile liability
		loss fund claims, payment obligations in connection with self-insurance or
		similar requirements incurred in the ordinary course of business or (ii)
		performance bonds, appeal bonds, surety bonds, insurance obligations or bonds
		and other similar bonds or obligations incurred in the ordinary course of
		business;
	 

	 
		(9) Indebtedness represented by Capitalized
		Lease Obligations and Purchase Money Obligations of the Company and its
		Restricted Subsidiaries existing on the Issue Date, and Indebtedness
		represented by Capitalized Lease Obligations and Purchase Money Obligations of
		the Company and its Restricted Subsidiaries after the Issue Date up to, but not
		exceeding, $3.5 million at any time outstanding;
	 

	 
		(10) Refinancing Indebtedness;
	 

	 
		(11) Guarantees by the Company or a
		Restricted Subsidiary of the Company of Indebtedness incurred by the Company or
		a Restricted Subsidiary of the Company so 
	 

	 
		 
	 

	 
		-17-
	 

	 
	 

	 

	 
		long as the incurrence of such Indebtedness
		by the Company or any such Restricted Subsidiary is otherwise permitted by the
		terms hereof;
	 

	 
		(12) Indebtedness arising from agreements of
		the Company or a Subsidiary of the Company providing for indemnification,
		adjustment of purchase price or similar obligations, in each case, incurred in
		connection with the disposition of any business, assets or Subsidiary, other
		than guarantees of Indebtedness incurred by any Person acquiring all or any
		portion of such business, assets or Subsidiary for the purpose of financing
		such acquisition; provided that the maximum aggregate liability in respect of
		all such Indebtedness shall at no time exceed the gross proceeds actually
		received by the Company and the Subsidiary of the Company in connection with
		such disposition;
	 

	 
		(13) Reimbursement obligations for letters
		of credit issued under the Credit Agreement in an aggregate principal amount
		not to exceed $10.0 million at any time outstanding; and
	 

	 
		(14) additional Indebtedness of the Company
		and its Restricted Subsidiaries in an aggregate principal amount not to exceed
		$5.0 million at any time outstanding (which amount may, but need not be,
		incurred in whole or in part under the Credit Agreement).
	 

	 
		For purposes of determining compliance with
		Section 4.12 hereof, (i) in the event that an item of Indebtedness
		meets the criteria of more than one of the categories of Permitted Indebtedness
		described in clauses (1) through (14) above or is
		entitled to be incurred pursuant to the Consolidated Fixed Charge Coverage
		Ratio provisions of such covenant, the Company shall, in its sole discretion,
		classify (or later reclassify) such item of Indebtedness in any manner that
		complies with this covenant, (ii) the amount of Indebtedness issued at a price
		which is less than the principal amount thereof shall be equal to the original
		issue price of such Indebtedness and (iii) Indebtedness incurred in connection
		with, or in contemplation of, any transaction described in the definition of
		the term “Acquired Indebtedness” shall be deemed to have been
		incurred by the Company or one of its Restricted Subsidiaries, as the case may
		be, at the time an acquired Person becomes such a Restricted Subsidiary (or is
		merged into the Company or such a Restricted Subsidiary) or at the time of the
		acquisition of assets, as the case may be. Accrual of interest, accretion or
		amortization of original issue discount, the payment of interest on any
		Indebtedness in the form of additional Indebtedness with the same terms, and
		the payment of dividends on Disqualified Capital Stock in the form of
		additional shares of the same class of Disqualified Capital Stock will not be
		deemed to be an incurrence of Indebtedness or an issuance of Disqualified
		Capital Stock for purposes of Section
		4.12.
	 

	 
		“Permitted Investments” means:
	 

	 
		(1) Investments by the Company or any
		Restricted Subsidiary of the Company in any Person that is or will become
		immediately after such Investment a Guarantor or Foreign Restricted Subsidiary
		of the Company or that will merge or consolidate into the Company or a
		Guarantor or Foreign Restricted Subsidiary of the Company;
	 

	 
		(2) Investments in the Company by any of its
		Restricted Subsidiaries; provided that any Indebtedness evidencing such
		Investment is unsecured and 
	 

	 
		 
	 

	 
		-18-
	 

	 
	 

	 

	 
		subordinated, pursuant to a written
		agreement, to the Company’s obligations under the Notes and this
		Indenture;
	 

	 
		(3) Investments in cash and Cash
		Equivalents;
	 

	 
		(4) loans and advances to employees,
		officers and directors of the Company and its Restricted Subsidiaries not in
		excess of $100,000 at any one time outstanding;
	 

	 
		(5) Currency Agreements, Commodity
		Agreements and Interest Swap Obligations entered into in the ordinary course of
		the Company’s or its Restricted Subsidiaries’ businesses and
		otherwise in compliance with this Indenture;
	 

	 
		(6) Investments in the Notes;
	 

	 
		(7) Investments in securities of trade
		creditors or customers received (a) pursuant to any plan of reorganization or
		similar arrangement upon the bankruptcy or insolvency of such trade creditors
		or customers in exchange for claims against such trade creditors or customers
		or (b) in settlement of delinquent obligations of, and other disputes, with
		customers, suppliers and others in each case arising in the ordinary course of
		business or otherwise in satisfaction of a judgment;
	 

	 
		(8) Investments made by the Company or its
		Restricted Subsidiaries as a result of an Asset Sale made in compliance with
		Section 4.16;
	 

	 
		(9) Investments made by the Company or its
		Restricted Subsidiaries;
	 

	 
		(a) consisting of consideration received in
		connection with an Asset Sale made in compliance with Section 4.16; or
	 

	 
		(b) consisting of consideration received by
		the Company or any of its Restricted Subsidiaries in connection with a
		transaction that would be an Asset Sale if it consisted of aggregate
		consideration received by the Company or any of its Restricted Subsidiaries of
		$1.0 million or more.
	 

	 
		(10) Investments of a Person or any of its
		Subsidiaries existing at the time such Person becomes a Restricted Subsidiary
		of the Company or at the time such Person merges or consolidates with the
		Company or any of its Restricted Subsidiaries, in either case in compliance
		with this Indenture; provided that such Investments were not made by such
		Person in connection with, or in anticipation or contemplation of, such Person
		becoming a Restricted Subsidiary of the Company or such merger or
		consolidation;
	 

	 
		(11) Investments in existence on the Issue
		Date;
	 

	 
		(12) guarantees of Indebtedness to the
		extent permitted pursuant to Section
		4.12; and
	 

	 
		(13) additional Investments (including
		Investments in joint ventures and Unrestricted Subsidiaries) not to exceed $1.0
		million at any time outstanding.
	 

	 
		 
	 

	 
		-19-
	 

	 
	 

	 

	 
		“Permitted Liens” means the following types of Liens:
	 

	 
		(1) Liens for taxes, assessments or
		governmental charges or claims that are either (a) not delinquent or (b) being
		contested in good faith by appropriate proceedings and as to which the Company
		or any of its Restricted Subsidiaries shall have set aside on its books such
		reserves if any, as shall be required pursuant to GAAP, and Liens for taxes to
		be paid pursuant to the Plan of Reorganization;
	 

	 
		(2) statutory and common law Liens of
		landlords and Liens of carriers, warehousemen, mechanics, suppliers,
		materialmen, repairmen and other Liens imposed by law or pursuant to customary
		reservations or retentions of title incurred in the ordinary course of business
		for sums not yet delinquent or being contested in good faith, if such reserve
		or other appropriate provision, if any, as shall be required by GAAP shall have
		been made in respect thereof;
	 

	 
		(3) Liens incurred or deposits made in the
		ordinary course of business in connection with automobile insurance policies,
		workers’ compensation, unemployment insurance and other types of social
		security, including any Lien securing letters of credit issued in the ordinary
		course of business consistent with past practice in connection therewith, or to
		secure the performance of tenders, statutory obligations, surety and appeal
		bonds, bids, leases, government contracts, performance and return-of-money
		bonds and other similar obligations (exclusive of obligations for the payment
		of borrowed money);
	 

	 
		(4) Liens arising by reason of any judgment
		of any court, but not giving rise to an Event of Default so long as such Lien
		is adequately bonded and any appropriate legal proceedings which may have been
		duly initiated for the review of such judgment shall not have been finally
		terminated or the period within which such proceedings may be initiated shall
		not have expired;
	 

	 
		(5) licenses, sublicenses, leases,
		subleases, easements, rights-of-way, zoning restrictions and other similar
		charges or encumbrances in respect of real property not interfering in any
		material respect with the ordinary conduct of the business of the Company and
		that of its Restricted Subsidiaries, taken as a whole;
	 

	 
		(6) any interest or title of a lessor under
		any Capitalized Lease Obligation or operating lease permitted pursuant to
		clause (9) of the definition of “Permitted
		Indebtedness;” provided that such Liens do not extend to any property or
		assets which is not leased property subject to such Capitalized Lease
		Obligation;
	 

	 
		(7) Liens securing Capitalized Lease
		Obligations and Purchase Money Indebtedness permitted pursuant to
		clause (9) of the definition of “Permitted
		Indebtedness”; provided, however, that in the case of Purchase Money
		Indebtedness (a) the Indebtedness shall not exceed the cost of the property
		acquired, together with the cost of the construction thereof and improvements
		thereto, and shall not be secured by any property or assets of the Company or
		any Restricted Subsidiary of the Company other than such property and
		improvements thereto so acquired or constructed and 
	 

	 
		 
	 

	 
		-20-
	 

	 
	 

	 

	 
		improvements thereon and (b) the Lien
		securing such Indebtedness shall be created within 180 days of such acquisition
		or construction or, in the case of a refinancing of any Purchase Money
		Indebtedness, within 180 days of such refinancing;
	 

	 
		(8) Liens (a) upon specific items of
		inventory or other goods and proceeds of any Person securing such Person’s
		obligations in respect of bankers’ acceptances or similar credit
		transactions issued or created for the account of such Person to facilitate the
		purchase, shipment or storage of such inventory or other goods, (b) securing
		reimbursement obligations with respect to commercial letters of credit which
		encumber documents and other property relating to such letters of credit and
		products and proceeds thereof, or (c) encumbering deposits made to secure
		obligations arising from statutory, regulatory, contractual, or warranty
		requirements of the Company or any of its Restricted Subsidiaries, including
		rights of offset and set-off;
	 

	 
		(9) Liens (a) securing Interest Swap
		Obligations which Interest Swap Obligations relate to Indebtedness that is
		otherwise permitted under this Indenture, or (b) securing Indebtedness under
		Currency Agreements and Commodity Agreements that are permitted under this
		Indenture;
	 

	 
		(10) Liens securing Acquired Indebtedness
		incurred in accordance with Section 4.12 (including, without limitation
		clause (9) of the definition of “Permitted
		Indebtedness”), provided that:
	 

	 
		(a) such Liens secured such Acquired
		Indebtedness at the time of and prior to the incurrence of such Acquired
		Indebtedness by the Company or a Restricted Subsidiary of the Company and were
		not granted in connection with, or in anticipation of, the incurrence of such
		Acquired Indebtedness by the Company or a Restricted Subsidiary of the Company;
		and
	 

	 
		(b) such Liens do not extend to or cover any
		property or assets of the Company or of any of its Restricted Subsidiaries
		other than the property or assets that secured the Acquired Indebtedness prior
		to the time such Indebtedness became Acquired Indebtedness of the Company or a
		Restricted Subsidiary of the Company and are no more favorable to the
		lienholders than those securing the Acquired Indebtedness prior to the
		incurrence of such Acquired Indebtedness by the Company or a Restricted
		Subsidiary of the Company;
	 

	 
		(11) Liens existing as of the Issue Date and
		securing Indebtedness permitted to be outstanding under clause (3) of
		the definition of the term “Permitted Indebtedness” to the extent and
		in the manner such Liens are in effect on the Issue Date;
	 

	 
		(12) Liens securing the Notes, the
		Additional Notes (if any), this Indenture and the Guarantees;
	 

	 
		(13) Liens on property or assets of the
		Company or any Restricted Subsidiary (and the proceeds thereof), other than the
		Motor Vehicles, securing Indebtedness under the Credit Agreement to the extent
		such Indebtedness is permitted under clauses (2),
		(13) and (14) of the
		definition of the term “Permitted Indebtedness;”
	 

	 
		 
	 

	 
		-21-
	 

	 
	 

	 

	 
		(14) Liens of the Company or a Guarantor on
		stock or assets of any Restricted Subsidiary of the Company; 
	 

	 
		(15) Liens securing Refinancing Indebtedness
		which is incurred to Refinance any Indebtedness which has been secured by a
		Lien permitted under Section
		4.18 and which has been incurred in
		accordance with Section
		4.12; provided, however, that such
		Liens: (i) are no less favorable to the Holders and are not more favorable to
		the lienholders with respect to such Liens than the Liens in respect of the
		Indebtedness being Refinanced; and (ii) do not extend to or cover any property
		or assets of the Company or any of its Restricted Subsidiaries not securing the
		Indebtedness so Refinanced;
	 

	 
		(16) Liens in the ordinary course of
		business not exceeding $5.0 million at any one time outstanding that (a) are
		not incurred in connection with borrowing money and (b) do not materially
		detract from the value of the property or materially impair its use;
	 

	 
		(17) Liens by reason of judgment or decree
		not otherwise resulting in an Event of Default;
	 

	 
		(18) Liens securing Indebtedness permitted
		to be incurred pursuant to clause
		(14) of the definition of
		“Permitted Indebtedness”; 
	 

	 
		(19) Liens on insurance financing payables;
		and
	 

	 
		(20) Liens arising out of conditional sale,
		title retention, consignment or similar arrangements for the sale of goods
		entered into by the Company or any of its Restricted Subsidiaries in the
		ordinary course of business.
	 

	 
		“Permitted Prior Liens” means (1) Liens described in clauses (1),
		(6), (7),
		(10), (11) or
		(13) (but excluding any Liens on Pledged Real Estate other
		than the real property and fixtures thereon located in Ridgewood, New York and
		owned by Metro Affiliates, Inc. on the Issue Date) of the definition of
		“Permitted Liens” and (2) Liens that arise by operation of law and
		are not voluntarily granted, to the extent entitled by law to priority over the
		security interests created by the Security Documents.
	 

	 
		“Person”
		means an individual, partnership, corporation, limited liability company,
		unincorporated organization, trust or joint venture, or a governmental agency
		or political subdivision thereof.
	 

	 
		“Physical Notes” has the meaning set forth in Section 2.14.
	 

	 
		“Plan of Reorganization” means the First Amended Joint Plan of
		Reorganization of the Company and its affiliated debtors, as filed with the
		U.S. Bankruptcy Court in the Southern District of New York on September 4, 2003
		and which went effective as of December 24, 2003.
	 

	 
		“Pledged Real Estate” has the meaning set forth in Section 4.22.
	 

	 
		 
	 

	 
		-22-
	 

	 
	 

	 

	 
		“Preferred Stock” of any Person means any Capital Stock of such
		Person that has preferential rights to any other Capital Stock of such Person
		with respect to dividends or redemptions or upon liquidation.
	 

	 
		“Premises”
		has the meaning set forth in Section
		4.22.
	 

	 
		“principal”
		of any Indebtedness (including the Notes) means the principal amount of such
		Indebtedness plus the premium, if any, on such Indebtedness.
	 

	 
		“Private Placement Legend” means the legend initially set forth on the Notes
		in the form set forth in Exhibit
		C-2.
	 

	 
		“pro forma”
		means, with respect to any calculation made or required to be made pursuant to
		the terms of this Indenture, a calculation made in accordance with Article 11
		of Regulation S-X under the Securities Act, as determined by the Board of
		Directors of the Company in consultation with its independent public
		accountants.
	 

	 
		“Purchase Money Indebtedness” means Indebtedness of the Company and its
		Restricted Subsidiaries incurred for the purpose of financing all or any part
		of the purchase price, or the cost of installation, construction or
		improvement, of property or equipment or other related assets and any
		refinancing thereof.
	 

	 
		“QIB” means
		a “qualified institutional buyer” as defined in Rule 144A.
	 

	 
		“Qualified Capital Stock” means any Capital Stock that is not Disqualified
		Capital Stock.
	 

	 
		“Record Date” means any of the Record Dates specified in the
		Notes, whether or not a Legal Holiday.
	 

	 
		“Redemption Date” means, when used with respect to any Note to be
		redeemed, the date fixed for redemption of such Note pursuant to this Indenture
		and the Notes.
	 

	 
		“Redemption Price” means, when used with respect to any Note to be
		redeemed, the price fixed for redemption pursuant to this Indenture and the
		Notes.
	 

	 
		“Reference Date” has the meaning set forth in Section 4.10.
	 

	 
		“Refinance”
		means, in respect of any security or Indebtedness, to refinance, extend, renew,
		refund, repay, prepay, redeem, defease or retire, or to issue a security or
		Indebtedness in exchange or replacement for, such security or Indebtedness in
		whole or in part. “Refinanced” and “Refinancing” shall have
		correlative meanings.
	 

	 
		“Refinancing Indebtedness” means any Refinancing by the Company or any of
		its Restricted Subsidiaries of Indebtedness incurred in accordance with
		Section 4.12 (other than Permitted Indebtedness) or pursuant to
		clause (1) or (3) of the
		definition of Permitted Indebtedness, in each case that does not:
	 

	 
		 
	 

	 
		-23-
	 

	 
	 

	 

	 
		(1) result in an increase in the aggregate
		principal amount of Indebtedness (or accreted value) of such Person as of the
		date of such proposed Refinancing (plus accrued interest, if any, the amount of
		any premium required to be paid under the terms of the instrument governing
		such Indebtedness and plus the amount of reasonable expenses incurred by the
		Company and its Restricted Subsidiaries in connection with such Refinancing);
		
	 

	 
		(2) create Indebtedness with: (a) a Weighted
		Average Life to Maturity that is less than the Weighted Average Life to
		Maturity of the Indebtedness being Refinanced; or (b) a final maturity earlier
		than the final maturity of the Indebtedness being Refinanced; provided that (x)
		if such Indebtedness being Refinanced is Indebtedness of the Company, then such
		Refinancing Indebtedness shall be Indebtedness solely of the Company or a
		Guarantor and (y) if such Indebtedness being Refinanced is subordinate or
		junior to the Notes, then such Refinancing Indebtedness shall be subordinate to
		the Notes at least to the same extent and in the same manner as the
		Indebtedness being Refinanced;
	 

	 
		(3) other than as permitted by
		clause (2)(b)(x) above, change any of the respective obligors on such
		Refinancing Indebtedness; or
	 

	 
		(4) afford the holders of such Refinancing
		Indebtedness covenants, defaults, rights or remedies taken as a whole more
		burdensome to the obligors than those contained in the Indebtedness being
		refinanced.
	 

	 
		“Registrar”
		has the meaning set forth in Section
		2.03.
	 

	 
		“Registration Rights Agreement” means (a) the Registration Rights Agreement,
		dated as of the Issue Date, among the Company, the Guarantors and the Initial
		Purchaser, as the same may be amended or modified from time to time in
		accordance with the terms thereof, and (b) with respect to any Additional
		Notes, one or more registration rights agreements among the Company, the
		Guarantors and the other parties thereto, as such agreement(s) may be amended
		or modified from time to time in accordance with the terms thereof, relating to
		rights given by the Company to the purchasers of Additional Notes to register
		such Additional Notes under the Securities Act.
	 

	 
		“Regulation S” means Regulation S under the Securities
		Act.
	 

	 
		“Regulation S Global Notes” has the meaning set forth in Section 2.01.
	 

	 
		“Released Interests” has the meaning set forth in Section 12.05(a).
	 

	 
		“Replacement Assets” has the meaning set forth in Section 4.16(3)(b).
	 

	 
		“Restricted Payment” has the meaning set forth in Section 4.10.
	 

	 
		“Restricted Period” means the 40-day distribution compliance period
		as defined in Regulation S.
	 

	 
		 
	 

	 
		-24-
	 

	 
	 

	 

	 
		“Restricted Security” has the meaning assigned to such term in Rule
		144(a)(3) under the Securities Act; provided that
		the Trustee shall be entitled to request and conclusively rely on an Opinion of
		Counsel with respect to whether any Note constitutes a Restricted
		Security.
	 

	 
		“Restricted Subsidiary” of any Person means any Subsidiary of such Person
		which at the time of determination is not an Unrestricted Subsidiary.
	 

	 
		“Rule 144A”
		means Rule 144A under the Securities Act.
	 

	 
		“S&P”
		means Standard & Poor’s Ratings Group.
	 

	 
		“Sale and Leaseback Transaction” means any direct or indirect arrangement with any
		Person or to which any such Person is a party, providing for the leasing to the
		Company or a Restricted Subsidiary of any property, whether owned by the
		Company or any Restricted Subsidiary at the Issue Date or later acquired, which
		has been or is to be sold or transferred by the Company or such Restricted
		Subsidiary to such Person or to any other Person from whom funds have been or
		are to be advanced by such Person on the security of such Property other than:
		(a) arrangements between the Company and any of its Wholly Owned Subsidiaries
		or between its Wholly Owned Subsidiaries or (b) any arrangement whereby the
		transfer involves fixed or capital assets and is consummated within 120 days
		after the date the Company or any of its Restricted Subsidiaries acquire or
		finish construction of such fixed or capital assets.
	 

	 
		“Secured Parties” has the meaning set forth in the Security
		Agreement.
	 

	 
		“Securities Act” means the Securities Act of 1933, as amended, and
		the rules and regulations of the Commission promulgated thereunder.
	 

	 
		“Security Agreement” means the Security Agreement, dated as of the
		Issue Date, made by the Company and the Guarantors in favor of the Collateral
		Agent, as amended or supplemented from time to time in accordance with its
		terms.
	 

	 
		“Security Documents” means the Intercreditor Agreement, the Security
		Agreement and all other security agreements, pledge agreements, collateral
		assignments, mortgages, collateral agency agreements, control agreements, deeds
		of trust or other grants or transfers for security executed and delivered by
		the Company or any other obligor creating (or purporting to create) a Lien upon
		Collateral in favor of the Collateral Agent, in each case, as amended,
		modified, renewed, restated or replaced, in whole or in part, from time to
		time, in accordance with its terms.
	 

	 
		“Significant Subsidiary” with respect to any Person, means any Restricted
		Subsidiary of such Person that satisfies the criteria for a “significant
		subsidiary” set forth in Rule 1.02(w) of Regulation S-X under the Exchange
		Act as such regulation is in effect as of the Issue Date.
	 

	 
		“Subsidiary”
		with respect to any Person, means:
	 

	 
		(1) any corporation of which the outstanding
		Capital Stock having at least a majority of the votes entitled to be cast in
		the election of directors under ordinary 
	 

	 
		 
	 

	 
		-25-
	 

	 
	 

	 

	 
		circumstances shall at the time be owned,
		directly or indirectly, by such Person or one or more Subsidiaries of such
		Person (or any combination thereof); or
	 

	 
		(2) any other Person of which at least a
		majority of the voting interest under ordinary circumstances is at the time,
		directly or indirectly, owned by such Person or one or more Subsidiaries of
		such Person (or any combination thereof).
	 

	 
		“Surviving Entity” has the meaning set forth in Section 5.01(1)(b).
	 

	 
		“Taxes” has
		the meaning set forth in Section
		4.10.
	 

	 
		“TIA” means
		the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb), as
		amended, as in effect on the date of this Indenture, except as otherwise set
		forth in Section 9.03.
	 

	 
		“Transaction Date” has the meaning set forth in the definition of
		the term “Consolidated Fixed Charge Coverage Ratio.” 
	 

	 
		“Trust Officer” means any officer of the Trustee assigned by the
		Trustee to administer this Indenture or, in the case of a successor trustee, an
		officer assigned to the department, division or group performing the
		corporation trust work of such successor and assigned to administer this
		Indenture.
	 

	 
		“Trustee”
		means the party named as such in this Indenture until a successor replaces it
		in accordance with the provisions of this Indenture and thereafter means such
		successor.
	 

	 
		“Unrestricted Subsidiary” of any Person means:
	 

	 
		(1) any Subsidiary of such Person that at
		the time of determination shall be or continue to be designated an Unrestricted
		Subsidiary by the Board of Directors of such Person in the manner provided
		below; and
	 

	 
		(2) any Subsidiary of an Unrestricted
		Subsidiary.
	 

	 
		The Board of Directors may designate any
		Subsidiary (including any newly acquired or newly formed Subsidiary) to be an
		Unrestricted Subsidiary unless such Subsidiary owns any Capital Stock of, or
		owns or holds any Lien on any property of, the Company or any other Subsidiary
		of the Company that is not a Subsidiary of the Subsidiary to be so designated,
		provided that:
	 

	 
		(1) the Company certifies to the Trustee
		that such designation complies with Section 4.10; and
	 

	 
		(2) each Subsidiary to be so designated and
		each of its Subsidiaries has not at the time of designation, and does not
		thereafter, create, incur, issue, assume, guarantee or otherwise become
		directly or indirectly liable with respect to any Indebtedness pursuant to
		which the lender has recourse to any of the assets of the Company or any of its
		Restricted Subsidiaries.
	 

	 
		 
	 

	 
		-26-
	 

	 
	 

	 

	 
		The Board of Directors may designate any
		Unrestricted Subsidiary to be a Restricted Subsidiary only if:
	 

	 
		(1) immediately after giving effect to such
		designation, the Company is able to incur at least $1.00 of additional
		Indebtedness (other than Permitted Indebtedness) in compliance with Section
		4.12; and
	 

	 
		(2) immediately before and immediately after
		giving effect to such designation, no Default or Event of Default shall have
		occurred and be continuing.
	 

	 
		Any such designation by the Board of
		Directors shall be evidenced to the Trustee by promptly filing with the Trustee
		a copy of the Board Resolution giving effect to such designation and an
		Officers’ Certificate certifying that such designation complied with the
		foregoing provisions.
	 

	 
		“U.S. Government Obligations” means non-callable direct obligations of, and
		non-callable obligations guaranteed by, the United States of America for the
		payment of which the full faith and credit of the United States of America is
		pledged.
	 

	 
		“U.S. Legal Tender” means such coin or currency of the United States
		which, as at the time of payment, shall be immediately available legal tender
		for the payment of public and private debts.
	 

	 
		“U.S. Person” means a Person who is a U.S. person, as defined
		in Regulation S.
	 

	 
		“Voting Stock” means, with respect to any Person, securities of
		any class or classes of Capital Stock in such Person entitling the holders
		thereof (whether at all times or only so long as no senior class of stock has
		voting power by reason of any contingency) to vote in the election of members
		of the Board of Directors of such Person.
	 

	 
		“Weighted Average Life to Maturity” means, when applied to any Indebtedness at any
		date, the number of years obtained by dividing (a) the then outstanding
		aggregate principal amount of such Indebtedness into (b) the sum of the total
		of the products obtained by multiplying (i) the amount of each then remaining
		installment, sinking fund, serial maturity or other required payment of
		principal, including payment at final maturity, in respect thereof, by (ii) the
		number of years (calculated to the nearest one-twelfth) which will elapse
		between such date and the making of such payment.
	 

	 
		“Wholly Owned Subsidiary” of any Person means any Restricted Subsidiary of
		such Person of which all the outstanding Capital Stock (other than in the case
		of a foreign Subsidiary, directors’ qualifying shares or an immaterial
		amount of shares required to be owned by other Persons pursuant to applicable
		law) are owned by such Person or any Wholly Owned Subsidiary of such
		Person.
	 

	 
		 
	 

	 
		-27-
	 

	 
	 

	 

	 
		Section 1.02. Incorporation by Reference
		of Trust Indenture Act.
	 

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

	 
		“indenture securities” means the Notes.
	 

	 
		“indenture security holder” means a Holder.
	 

	 
		“indenture to be qualified” means this Indenture.
	 

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

	 
		“obligor”
		with respect to the Notes means the Company or any other obligor on the
		Notes.
	 

	 
		All other TIA terms used in this Indenture
		that are defined by the TIA, defined by TIA reference to another statute or
		defined by Commission rule and not otherwise defined herein have the meanings
		assigned to them therein.
	 

	 
		Section 1.03.
		Rules of Construction.
	 

	 
		Unless the context otherwise
		requires:
	 

	 
		(a) a term has the meaning assigned to
		it;
	 

	 
		(b) an accounting term not otherwise defined
		has the meaning assigned to it in accordance with GAAP;
	 

	 
		(c) “or” is not
		exclusive;
	 

	 
		(d) words in the singular include the
		plural, and words in the plural include the singular;
	 

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

	 

	 
		(f) all references to Sections or Articles
		refer to Sections or Articles of this Indenture unless otherwise indicated;
		and
	 

	 
		(g) unless otherwise defined or the context
		otherwise requires, terms for which meanings are provided in this Indenture
		shall have such meanings when used in each other Related Document (as defined
		in the Security Agreement). 
	 

	 
		 
	 

	 
		-28-
	 

	 
	 

	 

	 
		ARTICLE TWO
	 

	 
		 
	 

	 
		THE NOTES
	 

	 
		Section 2.01.
		Form and Dating.
	 

	 
		The Initial Notes and any Additional Notes
		and, in each case, the Trustee’s certificate of authentication thereon
		shall be substantially in the form of Exhibit A
		hereto. The Exchange Notes and the Trustee’s certificate of authentication
		thereon shall be substantially in the form of Exhibit B
		hereto. The Notes may have notations, legends or endorsements required by law,
		stock exchange rule or Depository rule or usage. The Company and the Trustee
		shall approve the form of the Notes and any notation, legend or endorsement on
		them. Each Note shall be dated the date of its authentication. 
	 

	 
		The terms and provisions contained in the
		forms of the Notes annexed hereto as Exhibit A and
		Exhibit B, shall constitute, and are hereby expressly made, a
		part of this Indenture and, to the extent applicable, the Company, the
		Guarantors and the Trustee, by their execution and delivery of this Indenture,
		expressly agree to such terms and provisions and to be bound thereby.
	 

	 
		Notes offered and sold in reliance on Rule
		144A shall be issued initially in the form of one or more permanent Global
		Notes in registered form, substantially in the form set forth in
		Exhibit A, as applicable, hereto (“Global Notes”), deposited with the Trustee, as custodian for
		the Depository, duly executed by the Company and authenticated by the Trustee
		as hereinafter provided and shall bear the legend set forth in Exhibit C-1.
	 

	 
		Notes offered and sold in reliance on Rule
		501(a)(1), (2), (3) or (7) under the Securities Act shall be issued initially
		in the form of one or more permanent Global Notes deposited with the Trustee,
		as custodian for the Depository, duly executed by the Company and authenticated
		by the Trustee as hereinafter provided and shall bear the legend set forth in
		Exhibit C-1.
	 

	 
		Notes offered and sold in offshore
		transactions in reliance on Regulation S shall be issued initially in the form
		of one or more permanent Global Notes (the “Regulation S Global Notes”) deposited with the Trustee, as custodian for the
		Depository, and registered in the name of the Depository or the nominee of the
		Depository for the accounts of designated agents holding on behalf of Euroclear
		or Clearstream, duly executed by the Company and authenticated by the Trustee
		as hereinafter provided and shall bear the legend set forth in Exhibit C-1.
	 

	 
		The provisions of the “Operating
		Procedures of the Euroclear System” and the “Terms and Conditions
		Governing Use of Euroclear” and the “General Terms and Conditions of
		Clearstream Banking” and “Customer Handbook” of Clearstream will
		be applicable to transfers of beneficial interests in the Regulation S Global
		Note that is held by participants through Euroclear or Clearstream.
	 

	 
		The aggregate principal amount of any Global
		Note may from time to time be increased or decreased by adjustments made on the
		records of the Trustee, as custodian for the Depository, as hereinafter
		provided.
	 

	 
		 
	 

	 
		 
	 

	 
		-29-
	 

	 
		 
	 

	 
	 

	 

	 
		The definitive Notes shall be typed,
		printed, lithographed or engraved or produced by any combination of these
		methods or may be produced in any other manner permitted by the rules of any
		securities exchange on which the Notes may be listed, all as determined by the
		Officer executing such Notes, as evidenced by their execution of such
		Notes.
	 

	 
		Section 2.02.
		Execution and Authentication; Aggregate
		Principal Amount.
	 

	 
		An Officer (who shall have been duly
		authorized by all requisite corporate actions) shall sign the Notes for the
		Company by manual or facsimile signature.
	 

	 
		If an Officer whose signature is on a Note
		was an Officer at the time of such execution but no longer holds that office or
		position at the time the Trustee authenticates the Note, the Note shall
		nevertheless be valid.
	 

	 
		A Note shall not be valid until an
		authorized signatory of the Trustee manually signs the certificate of
		authentication on the Note. The signature shall be conclusive evidence that the
		Note has been authenticated under this Indenture.
	 

	 
		The Trustee shall authenticate (i) Initial
		Notes for original issue in the aggregate principal amount not to exceed
		$185,000,000, (ii) Exchange Notes from time to time for issue only in exchange
		for a like principal amount of Initial Notes and (iii) subject to compliance
		with Section 4.12, one or more series of Notes for original issue after
		the Issue Date in an unlimited amount (“Additional Notes”), in each case upon written orders of the Company
		executed by an Officer of the Company, which written orders shall, in the case
		of any issuance of Additional Notes, certify that such issuance is in
		compliance with Section
		4.12. In addition, each Officers’
		Certificate shall specify the amount of Notes to be authenticated and the date
		on which the Notes are to be authenticated, whether the Notes are to be Initial
		Notes, Exchange Notes or Additional Notes and shall further specify the amount
		of such Notes to be issued as Global Notes or Physical Notes. All Notes issued
		under this Indenture shall vote and consent together on all matters as one
		class and no series of Notes shall have the right to vote or consent as a
		separate class on any matter.
	 

	 
		The Trustee may appoint an authenticating
		agent (the “Authenticating
		Agent”) reasonably acceptable to
		the Company to authenticate Notes. Unless otherwise provided in the
		appointment, an Authenticating Agent may authenticate Notes whenever the
		Trustee may do so. Each reference in this Indenture to authentication by the
		Trustee includes authentication by such Authenticating Agent. An Authenticating
		Agent has the same rights as an Agent to deal with the Company and Affiliates
		of the Company.
	 

	 
		The Notes shall be issuable in fully
		registered form only, without coupons, in denominations of $1,000 in principal
		amount and any integral multiple thereof.
	 

	 
		Section 2.03.
		Registrar and Paying
		Agent.
	 

	 
		The Company shall maintain an office or
		agency which shall initially be the office of the Trustee in the Borough of
		Manhattan, The City of New York, where (a) Notes may be presented or
		surrendered for registration of transfer or for exchange (“Registrar”), (b) Notes may be presented or surrendered for
		payment (“Paying
		Agent”) and (c) notices and
		demands to or upon the Company in respect of the Notes and this Indenture may
		be served. The Registrar shall keep
	 

	 
		 
	 

	 
		 
	 

	 
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		a register of the Notes and of their
		transfer and exchange. The Company, upon prior written notice to the Trustee,
		may have one or more co-Registrars and one or more additional Paying Agents
		reasonably acceptable to the Trustee. The term “Paying Agent”
		includes any additional Paying Agent. Neither the Company nor any Affiliate of
		the Company may act as Paying Agent.
	 

	 
		The Company shall enter into an appropriate
		agency agreement with any Agent not a party to this Indenture, which agreement
		shall incorporate the provisions of the TIA and implement the provisions of
		this Indenture that relate to such Agent. The Company shall notify the Trustee
		in writing, in advance, of the name and address of any such Agent and otherwise
		be reasonably satisfactory to the Trustee. If the Company fails to maintain a
		Registrar or Paying Agent, or fails to give the foregoing notice, the Trustee
		shall act as such.
	 

	 
		The Company initially appoints the Trustee
		as Registrar, Paying Agent and agent for service of demands and notices in
		connection with the Notes. The Paying Agent or Registrar may resign upon thirty
		(30) days’ written notice to the Company.
	 

	 
		Section 2.04.
		Obligations of Paying
		Agent.
	 

	 
		The Company shall require each Paying Agent
		other than the Trustee to agree in writing that such Paying Agent shall hold
		separate and apart from, and not commingle with any other properties, for the
		benefit of the Holders or the Trustee, all assets held by the Paying Agent for
		the payment of principal of, or premium, if any, interest or Additional
		Interest, if any, on, the Notes (whether such assets have been distributed to
		it by the Company or any other obligor on the Notes), and the Company and the
		Paying Agent shall notify the Trustee in writing of any Default by the Company
		(or any other obligor on the Notes) in making any such payment. The Company at
		any time may require a Paying Agent to distribute all assets held by it to the
		Trustee and account for any assets disbursed and the Trustee may at any time
		during the continuance of any payment Default, upon written request to a Paying
		Agent, require such Paying Agent to distribute all assets held by it to the
		Trustee and to account for any assets distributed. Upon receipt by the Trustee
		of all assets that shall have been delivered by the Company to the Paying
		Agent, the Paying Agent shall have no further liability for such assets.

	 

	 
		Section 2.05.
		Holder Lists.
	 

	 
		The Trustee shall preserve in as current a
		form as is reasonably practicable the most recent list available to it of the
		names and addresses of the Holders and shall otherwise comply with TIA Section
		312(a). If the Trustee is not the Registrar, the Company shall furnish or cause
		the Registrar to furnish to the Trustee before each Record Date and at such
		other times as the Trustee may request in writing a list as of such date and in
		such form as the Trustee may reasonably request of the names and addresses of
		the Holders, which list may be conclusively relied upon by the Trustee.
	 

	 
		Section 2.06.
		Transfer and Exchange.
	 

	 
		Subject to the provisions of Sections 2.14
		and 2.15, when Notes are presented to the Registrar or a
		co-Registrar with a request to register the transfer of such Notes or to
		exchange such Notes for an equal principal amount of Notes of other authorized
		denominations, the Registrar or co-Registrar shall register the transfer or
		make the exchange as requested; provided,

	 

	 
		 
	 

	 
		 
	 

	 
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		however, that the Notes presented or surrendered for
		registration of transfer or exchange shall be duly endorsed or accompanied by a
		written instrument of transfer in form satisfactory to the Company and the
		Registrar or co-Registrar, duly executed by the Holder thereof or his attorney
		duly authorized in writing and such other documents as the Registrar or
		Co-Registrar may reasonably require. To permit registrations of transfers and
		exchanges, the Company shall issue and the Trustee shall authenticate Notes at
		the Registrar’s or co-Registrar’s request. No service charge shall be
		made for any registration of transfer or exchange, but the Company or the
		Trustee may require payment of a sum sufficient to cover any transfer tax or
		similar governmental charge payable in connection therewith (other than any
		such transfer taxes or similar governmental charge payable upon exchanges or
		transfers pursuant to Section
		2.10, 3.06,
		4.15, 4.16 or
		9.05, in which event the Company shall be responsible for
		the payment of such taxes).
	 

	 
		The Registrar or co-Registrar shall not be
		required to register the transfer or exchange of any Note (i) during a period
		beginning at the opening of business fifteen (15) days before the mailing of a
		notice of redemption of Notes and ending at the close of business on the day of
		such mailing and (ii) selected for redemption in whole or in part pursuant to
		Article III, except the unredeemed portion of any Note being
		redeemed in part.
	 

	 
		Any Holder of a Global Note shall, by
		acceptance of such Global Note, agree that transfers of beneficial interests in
		such Global Note may be effected only through the Depository, in accordance
		with this Indenture and the Applicable Procedures.
	 

	 
		Section 2.07.
		Replacement Notes.
	 

	 
		If a mutilated Note is surrendered to the
		Trustee or if the Holder of a Note claims in writing that the Note has been
		lost, destroyed or wrongfully taken, then, in the absence of written notice to
		the Company upon its request or the Trustee that such Note has been acquired by
		a protected purchaser, the Company shall issue and the Trustee shall
		authenticate a replacement Note of like tenor and principal amount and bearing
		a number not contemporaneously outstanding if the Trustee’s requirements
		are met. Except with respect to mutilated Notes, if required by the Trustee or
		the Company, such Holder must provide an affidavit of lost certificate and an
		indemnity bond or other indemnity, sufficient in the judgment of both the
		Company and the Trustee, to protect the Company, the Trustee or any Agent from
		any loss which any of them may suffer if a Note is replaced. The Company may
		charge such Holder for its reasonable out-of-pocket expenses in replacing a
		Note, including reasonable fees and expenses of its counsel and of the Trustee
		and its counsel. Every replacement Note shall constitute an additional
		obligation of the Company, entitled to the benefits of this Indenture.
	 

	 
		Section 2.08.
		Outstanding Notes.
	 

	 
		Notes outstanding at any time are all the
		Notes that have been authenticated by the Trustee except those cancelled by it,
		those delivered to it for cancellation and those described in this
		Section 2.08 as not outstanding. Subject to the provisions of
		Section 2.09, a Note does not cease to be outstanding because the
		Company or any of its Affiliates holds the Note.
	 

	 
		 
	 

	 
		 
	 

	 
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		If a Note is replaced pursuant to
		Section 2.07 (other than a mutilated Note surrendered for
		replacement), it ceases to be outstanding unless the Trustee receives proof
		satisfactory to it that the replaced Note is held by a bona fide
		purchaser. A mutilated Note ceases to be outstanding upon surrender of such
		Note and replacement thereof pursuant to Section 2.07.
	 

	 
		If on a Redemption Date or the Maturity Date
		the Paying Agent holds U.S. Legal Tender or U.S. Government Obligations
		sufficient to pay all of the principal, premium, if any, interest and
		Additional Interest, if any, due on the Notes payable on that date and is not
		prohibited from paying such money to the Holders thereof pursuant to the terms
		of this Indenture, then on and after that date such Notes cease to be
		outstanding and interest and Additional Interest, if applicable, on them ceases
		to accrue.
	 

	 
		Section 2.09.
		Treasury Notes; When Notes Are
		Disregarded.
	 

	 
		In determining whether the Holders of the
		required principal amount of Notes have concurred in any direction, waiver,
		consent or notice, Notes owned by the Company or any of its Affiliates shall be
		considered as though they are not outstanding, except that for the purposes of
		determining whether the Trustee shall be protected in relying on any such
		direction, waiver or consent, only Notes which the Trustee actually knows are
		so owned shall be so considered. The Company shall notify the Trustee, in
		writing (which notice shall constitute actual notice for purposes of the
		foregoing sentence), when it or any of its Affiliates repurchases or otherwise
		acquires Notes, of the aggregate principal amount of such Notes so repurchased
		or otherwise acquired.
	 

	 
		Section 2.10.
		Temporary Notes.
	 

	 
		Until definitive Notes are ready for
		delivery, the Company may prepare and execute and the Trustee shall
		authenticate temporary Notes upon receipt of a written order of the Company in
		the form of an Officers’ Certificate. The Officers’ Certificate shall
		specify the amount of temporary Notes to be authenticated and the date on which
		the temporary Notes are to be authenticated. Temporary Notes shall be
		substantially in the form of definitive Notes but may have variations that the
		Company considers appropriate for temporary Notes. Without unreasonable delay,
		the Company shall prepare and the Trustee shall authenticate upon receipt of a
		written order of the Company pursuant to Section 2.02
		definitive Notes in exchange for temporary Notes. Until so exchanged, the
		temporary Notes shall be entitled to the same benefits under this Indenture as
		definitive Notes.
	 

	 
		Section 2.11.
		Cancellation.
	 

	 
		The Company at any time may deliver Notes
		previously authenticated hereunder which the Company has acquired in any lawful
		manner, to the Trustee for cancellation. The Registrar and the Paying Agent
		shall forward to the Trustee any Notes surrendered to them for transfer,
		exchange or payment. The Trustee, or at the direction of the Trustee, the
		Registrar or the Paying Agent, and no one else, shall cancel all Notes
		surrendered for transfer, exchange, payment or cancellation. Subject to
		Section 2.07, the Company may not issue new Notes to replace Notes
		that it has paid or delivered to the Trustee for cancellation. If the Company
		shall acquire any of the Notes, such acquisition shall not operate as a
		redemption or satisfaction of the Indebtedness 
	 

	 
		 
	 

	 
		 
	 

	 
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		represented by such Notes unless and until
		the same are surrendered to the Trustee for cancellation pursuant to this
		Section 2.11. The Trustee shall dispose of all cancelled Notes in
		accordance with customary procedures or, at the written request of the Company,
		shall return the same to the Company.
	 

	 
		Section 2.12.
		CUSIP Numbers.
	 

	 
		A “CUSIP” number shall be printed
		on the Notes, and the Trustee shall use the CUSIP number in notices of
		redemption, purchase or exchange as a convenience to Holders; provided that
		any such notice may state that no representation is made as to the correctness
		or accuracy of the CUSIP number printed in the notice or on the Notes and that
		reliance may be placed only on the other identification numbers printed on the
		Notes. The Company shall promptly notify the Trustee of any change in the CUSIP
		number.
	 

	 
		Section 2.13.
		Deposit of Moneys.
	 

	 
		Prior to 11:00 a.m. New York City time on
		each Interest Payment Date and the Maturity Date, the Company shall deposit
		with the Paying Agent U.S. Legal Tender sufficient to make cash payments, if
		any, due on such Interest Payment Date or the Maturity Date, as the case may
		be.
	 

	 
		Section 2.14.
		Book-Entry Provisions for Global
		Notes.
	 

	 
		(a) The Global Notes initially shall (i) be
		registered in the name of the Depository or the nominee of such Depository,
		(ii) be delivered to the Trustee as custodian for such Depository and (iii)
		bear legends as set forth in Exhibit C-1.
	 

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

	 
		(b) Transfers of the Global Notes shall be
		limited to transfers in whole, but not in part, to the Depository, its
		successors or their respective nominees. Interests of beneficial owners in the
		Global Notes may be transferred or exchanged in accordance with the Applicable
		Procedures of the Depository and the provisions of Section 2.15;
		provided, however, that
		prior to the expiration of the Restricted Period, transfers of beneficial
		interests in the Regulation S Global Note may not be made to a U.S. Person or
		for the account or benefit of a U.S. Person (other than the Initial Purchaser).
		In addition, Notes in the form of certificates Notes in registered form in
		substantially the form set forth in Exhibits A
		hereto (the “Physical
		Notes”) shall be transferred to
		all beneficial owners in exchange for their beneficial interests in the Global
		Notes if (i) the Depository notifies the Company that it is unwilling or unable
		to continue as Depository for the Global Notes and a successor Depository is
		not appointed by the Company within ninety (90)
	 

	 
		 
	 

	 
		 
	 

	 
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		days of such notice or (ii) an Event of
		Default has occurred and is continuing and the Registrar has received a request
		from the Depository to issue Physical Notes; provided that a
		beneficial interest in the Regulation S Global Note may not be exchanged for a
		Physical Note or transferred to a Person who takes delivery thereof in the form
		of a Physical Note prior to the expiration of the Restricted Period.
	 

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

	 
		(d) In connection with any transfer or
		exchange of a portion of the beneficial interest in the Global Note to
		beneficial owners pursuant to paragraph
		(b), the Registrar shall (if one or
		more Physical Notes are to be issued) reflect on its books and records the date
		and a decrease in the principal amount of the Global Note in an amount equal to
		the principal amount of the beneficial interest in the Global Note to be
		transferred, and the Company shall execute, and the Trustee shall authenticate
		and deliver, one or more Physical Notes of like tenor and aggregate principal
		amount.
	 

	 
		(e) In connection with the transfer of an
		entire Global Note to beneficial owners pursuant to paragraph (b),
		the Global Notes shall be deemed to be surrendered to the Trustee for
		cancellation, and the Company shall execute, and the Trustee shall authenticate
		and deliver, to each beneficial owner identified by the Depository in exchange
		for its beneficial interest in the Global Notes, an equal aggregate principal
		amount of Physical Notes of authorized denominations.
	 

	 
		(f) Any Physical Note constituting a
		Restricted Security delivered in exchange for an interest in the Global Note
		pursuant to paragraph
		(b) or (c) shall,
		except as otherwise provided by paragraphs (a)(i)(x) and (c) of
		Section 2.15, bear the legend regarding transfer restrictions
		applicable to the Physical Notes set forth in Exhibit A
		hereto.
	 

	 
		(g) The Holder of a Global Note may grant
		proxies and otherwise authorize any Person, including Agent Members and Persons
		that may hold interests through Agent Members, to take any action which a
		Holder is entitled to take under this Indenture or the Notes.
	 

	 
		Section 2.15.
		Special Transfer
		Provisions.
	 

	 
		(a) Transfers to Non-QIB Institutional Accredited Investors
		and Non-U.S. Persons. The following
		provisions shall apply with respect to the registration of any proposed
		transfer of a Note constituting a Restricted Security to any Institutional
		Accredited Investor which is not a QIB or to any Non-U.S. Person:
	 

	 
		(i) the Registrar shall register the
		transfer of any Note constituting a Restricted Security, whether or not such
		Note bears the Private Placement Legend, if (x) the requested transfer is after
		May 15, 2009 or (y) (1) in the case of a transfer to an Institutional
		Accredited Investor which is not a QIB (excluding Non-U.S. Persons), the

	 

	 
		 
	 

	 
		 
	 

	 
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		proposed transferee has delivered to the
		Registrar a certificate substantially in the form of Exhibit D hereto
		or (2) in the case of a transfer to a Non-U.S. Person, the proposed transferor
		has delivered to the Registrar a certificate substantially in the form of
		Exhibit E hereto; and
	 

	 
		(ii) if the proposed transferor is an Agent
		Member holding a beneficial interest in the Global Note, upon receipt by the
		Registrar of (x) the certificate, if any, required by paragraph (i)
		above and (y) instructions given in accordance with the Applicable Procedures
		and the Registrar’s procedures,
	 

	 
		whereupon (1) the Registrar shall reflect on
		its books and records the date and (if the transfer does not involve a transfer
		of outstanding Physical Notes) a decrease in the principal amount of the Global
		Note in an amount equal to the principal amount of the beneficial interest in
		the Global Note to be transferred, and (2) the Company shall execute and the
		Trustee shall authenticate and deliver one or more Physical Notes of like tenor
		and principal amount.
	 

	 
		(b) Transfers to QIBs. The following provisions shall apply with respect to
		the registration of any proposed transfer of a Note constituting a Restricted
		Security to a QIB (excluding transfers to Non-U.S. Persons):
	 

	 
		(i) the Registrar shall register the
		transfer if such transfer is being made by a proposed transferor who has
		checked the box provided for on the form of Note stating, or has otherwise
		advised the Company and the Registrar in writing, that the sale has been made
		in compliance with the provisions of Rule 144A to a transferee who has signed
		the certification provided for on the form of Note stating, or has otherwise
		advised the Company and the Registrar in writing, that it is purchasing the
		Note for its own account or an account with respect to which it exercises sole
		investment discretion and that it and any such account is a QIB within the
		meaning of Rule 144A, and is aware that the sale to it is being made in
		reliance on Rule 144A and acknowledges that it has received such information
		regarding the Company as it has requested pursuant to Rule 144A or has
		determined not to request such information and that it is aware that the
		transferor is relying upon its foregoing representations in order to claim the
		exemption from registration provided by Rule 144A; and
	 

	 
		(ii) if the proposed transferee is an Agent
		Member, and the Notes to be transferred consist of Physical Notes which after
		transfer are to be evidenced by an interest in the Global Note, upon receipt by
		the Registrar of instructions given in accordance with the Applicable
		Procedures and the Registrar’s procedures, the Registrar shall reflect on
		its books and records the date and an increase in the principal amount of the
		Global Note in an amount equal to the principal amount of the Physical Notes to
		be transferred, and the Trustee shall cancel the Physical Notes so
		transferred.
	 

	 
		(c) Private Placement Legend. Upon the transfer, exchange or replacement of Notes
		not bearing the Private Placement Legend, the Registrar shall deliver Notes
		that do not bear the Private Placement Legend. Upon the transfer, exchange or
		replacement of Notes bearing the Private Placement Legend, the Registrar shall
		deliver only Notes that bear the Private Placement Legend unless (i) the
		circumstance contemplated by paragraph
		(a)(i)(x) of this Section
		2.15
	 

	 
		 
	 

	 
		 
	 

	 
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		exists or (ii) there is delivered to the
		Registrar an Opinion of Counsel reasonably satisfactory to the Company and the
		Trustee to the effect that neither such legend nor the related restrictions on
		transfer are required in order to maintain compliance with the provisions of
		the Securities Act. The Registrar shall not register a transfer of any Note
		unless such transfer complies with the restrictions on transfer of such Note
		set forth in this Indenture. In connection with any transfer of Notes, each
		Holder agrees by its acceptance of the Notes to furnish the Registrar or the
		Company such certifications, legal opinions or other information as either of
		them may reasonably require to confirm that such transfer is being made
		pursuant to an exemption from, or a transaction not subject to, the
		registration requirements of the Securities Act; provided that
		the Registrar shall not be required to determine (but may rely on a
		determination made by the Company with respect to) the sufficiency of any such
		certifications, legal opinions or other information.
	 

	 
		(d) General. By its
		acceptance of any Note bearing the Private Placement Legend, each Holder of
		such a Note acknowledges the restrictions on transfer of such Note set forth in
		this Indenture and in the Private Placement Legend and agrees that it shall
		transfer such Note only as provided in this Indenture.
	 

	 
		The Registrar shall retain copies of all
		letters, notices and other written communications received pursuant to
		Section 2.14 or this Section
		2.15. The Company shall have the right
		to inspect and make copies of all such letters, notices or other written
		communications at any reasonable time upon the giving of reasonable written
		notice to the Registrar.
	 

	 
		ARTICLE THREE
	 

	 
		 
	 

	 
		REDEMPTION
	 

	 
		Section 3.01.
		Optional Redemption.
	 

	 
		The Company may, at its option, redeem the
		Notes, in whole or in part, at specified times and under specified conditions,
		as set forth in Paragraph 5 of the Notes. If the Company elects to redeem Notes
		pursuant to Paragraph 5 of the Notes, it shall, at least fifteen (15) days (or
		such shorter period as the Trustee in its discretion shall agree) before the
		Redemption Date, furnish to the Trustee and Paying Agent an Officers’
		Certificate setting forth the Redemption Date and the principal amount of the
		Notes to be redeemed and the clause of this Indenture pursuant to which the
		redemption shall occur.
	 

	 
		Each Officers’ Certificate provided for
		in this Section 3.01 shall be accompanied by an Opinion of Counsel stating
		that such redemption shall comply with the conditions contained herein and in
		the Notes.
	 

	 
		Section 3.02.
		Selection of Notes to Be Redeemed.
	 

	 
		If fewer than all of the Notes are to be
		redeemed pursuant to Paragraph 5 of the Notes, the Trustee shall select the
		Notes to be redeemed (1) in compliance with the requirements of the principal
		national securities exchange, if any, on which such Notes are listed or (2) if
		such Notes are not then listed on a national securities exchange, on a
		pro rata basis or by such method as the Trustee may reasonably
		determine is fair and appropriate, provided that no partial
		redemption
	 

	 
		 
	 

	 
		 
	 

	 
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		will reduce the principal amount of a Note
		not redeemed to less than $1,000; and provided, further, that if
		a partial redemption is made with the proceeds of an Equity Offering then the
		selection of the Notes or portions thereof for redemption shall be made by the
		Trustee only on a pro rata basis or on as nearly a pro
		rata basis as is practicable (subject to the procedures of the Depository),
		unless such method is prohibited. The Trustee shall make the selection from the
		Notes outstanding and not previously called for redemption and shall promptly
		notify the Company in writing of the Notes selected for redemption and, in the
		case of any Note selected for partial redemption, the principal amount thereof,
		to be redeemed. Notes in denominations of $1,000 may be redeemed only in whole.
		The Trustee may select for redemption portions (equal to $1,000 or any integral
		multiple thereof) of the principal of Notes that have denominations larger than
		$1,000. Provisions of this Indenture that apply to Notes called for redemption
		also apply to portions of Notes called for redemption.
	 

	 
		Section 3.03.
		Notice of Redemption.
	 

	 
		At least fifteen (15) days but not more than
		sixty (60) days before a Redemption Date, the Company shall mail or cause to be
		mailed a notice of redemption by first class mail, postage prepaid, to each
		Holder whose Notes are to be redeemed at its registered address, with a copy to
		the Trustee and any Paying Agent. At the Company’s written request, the
		Trustee shall give the notice of redemption in the Company’s name and at
		the Company’s expense. Failure to give notice of redemption, or any defect
		therein to any Holder of any Note selected for redemption shall not impair or
		affect the validity of the redemption of any other Note.
	 

	 
		Each notice of redemption shall identify the
		Notes to be redeemed and shall state:
	 

	 
		(1) the Redemption Date;
	 

	 
		(2) the Redemption Price and the amount of
		accrued interest and Additional Interest, if any, to be paid;
	 

	 
		(3) the name and address of the Paying
		Agent;
	 

	 
		(4) the CUSIP number;
	 

	 
		(5) the subparagraph of the Notes pursuant
		to which such redemption is being made;
	 

	 
		(6) the place where such Notes called for
		redemption must be surrendered to the Paying Agent to collect the Redemption
		Price plus accrued interest and Additional Interest, if any;
	 

	 
		(7) that, unless the Company fails to
		deposit with the Paying Agent funds in satisfaction of the applicable
		Redemption Price, interest and Additional Interest, if applicable, on Notes
		called for redemption ceases to accrue on and after the Redemption Date in
		accordance with Section
		3.05, and the only remaining right of
		the Holders of such Notes is to receive payment of the Redemption Price plus
		accrued interest and Additional Interest, if any, upon surrender to the Paying
		Agent of the Notes redeemed;
	 

	 
		 
	 

	 
		 
	 

	 
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		(8) if any Note is being redeemed in part,
		the portion of the principal amount of such Note to be redeemed and that, after
		the Redemption Date, and upon surrender of such Note, a new Note or Notes in
		the aggregate principal amount equal to the unredeemed portion thereof shall be
		issued; and
	 

	 
		(9) if fewer than all the Notes are to be
		redeemed, the identification of the particular Notes (or portion thereof) to be
		redeemed, as well as the aggregate principal amount of Notes to be redeemed and
		the aggregate principal amount of Notes to be outstanding after such partial
		redemption.
	 

	 
		If any of the Notes to be redeemed is in the
		form of a Global Note, then the Company shall modify such notice to the extent
		necessary to accord with the procedures of the Depository applicable to
		redemption.
	 

	 
		Section 3.04.
		Effect of Notice of
		Redemption.
	 

	 
		Once notice of redemption is mailed in
		accordance with Section
		3.03, Notes or portions thereof called
		for redemption shall become irrevocably due and payable on the Redemption Date
		and at the Redemption Price plus accrued interest and Additional Interest, if
		any. Upon surrender to the Trustee or Paying Agent, such Notes or portions
		thereof called for redemption shall be paid at the Redemption Price plus
		accrued interest and Additional Interest, if any, thereon to the Redemption
		Date, but installments of interest and Additional Interest, if any, the
		maturity of which is on or prior to the Redemption Date, shall be payable to
		Holders of record at the close of business on the relevant Record Dates
		referred to in the Notes.
	 

	 
		Section 3.05.
		Deposit of Redemption Price.
	 

	 
		Not later than 10:00 a.m. local time in the
		place of payment on the Redemption Date, the Company shall deposit with the
		Paying Agent U.S. Legal Tender sufficient to pay the Redemption Price plus
		accrued interest and Additional Interest, if any, of all Notes or portions
		thereof to be redeemed on that date.
	 

	 
		The Paying Agent shall promptly return to
		the Company any U.S. Legal Tender so deposited which is not required for that
		purpose, except with respect to monies owed as obligations to the Trustee
		pursuant to Article VII.
	 

	 
		If the Company complies with the preceding
		paragraph, then, unless the Company defaults in the payment of such Redemption
		Price plus accrued interest and Additional Interest, if any, interest and
		Additional Interest, if applicable, on the Notes to be redeemed shall cease to
		accrue on and after the applicable Redemption Date, whether or not such Notes
		are presented for payment.
	 

	 
		Section 3.06.
		Notes Redeemed in Part.
	 

	 
		Upon surrender of a Note that is to be
		redeemed in part, the Company shall issue and the Trustee shall authenticate
		for the Holder at the expense of the Company a new Note or Notes equal in
		principal amount to the unredeemed portion of the Note surrendered.
	 

	 
		 
	 

	 
		 
	 

	 
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		ARTICLE FOUR
	 

	 
		 
	 

	 
		COVENANTS
	 

	 
		Section 4.01.
		Payment of Notes.
	 

	 
		The Company shall pay the principal of, or
		premium, if any, or interest and Additional Interest, if applicable, on the
		Notes on the dates and in the manner provided in the Notes and in this
		Indenture. An installment of principal of, or premium, if any, interest or
		Additional Interest, if any, on the Notes shall be considered paid on the date
		it is due if the Trustee or Paying Agent (other than the Company or an
		Affiliate of the Company) holds on that date U.S. Legal Tender designated for
		and sufficient to pay the installment in full and is not prohibited from paying
		such money to the Holders pursuant to the terms of this Indenture. The Company
		shall pay interest on overdue principal at 1% per annum in excess of the rate
		per annum set forth in the Notes, and it shall pay interest on overdue
		installments of interest and Additional Interest, if any, at the same rate to
		the extent lawful.
	 

	 
		Notwithstanding anything to the contrary
		contained in this Indenture, the Company may, to the extent it is required to
		do so by law, deduct or withhold income or other similar taxes imposed by the
		United States from principal or interest payments hereunder.
	 

	 
		Section 4.02.
		Maintenance of Office or
		Agency.
	 

	 
		The Company shall maintain the office or
		agency required under Section
		2.03. The Company shall give prior
		written notice to the Trustee and the Holders of the location, and any change
		in the location, of such office or agency. If at any time the Company shall
		fail to maintain any such required office or agency or shall fail to furnish
		the Trustee with the address thereof, such presentations, surrenders, notices
		and demands may be made or served at the Corporate Trust Office and the Company
		hereby appoints the Trustee as its agent to receive all such presentations,
		surrenders, notices and demands.
	 

	 
		Section 4.03.
		Corporate Existence.
	 

	 
		Except as otherwise permitted by
		Article V, the Company shall do or cause to be done, at its own
		cost and expense, all things necessary to preserve and keep in full force and
		effect its corporate existence and the corporate existence of each of its
		Subsidiaries in accordance with the respective organizational documents of each
		such Subsidiary and the material rights (charter and statutory) and franchises
		of the Company and each such Subsidiary; provided,
		however, that the Company shall not be required to preserve,
		with respect to itself, any material right or franchise and, with respect to
		any of its Subsidiaries, any such existence, material right or franchise, if
		the Board of Directors of the Company, shall determine in good faith that the
		preservation thereof is no longer desirable in the conduct of the business of
		the Company and its Subsidiaries, taken as a whole.
	 

	 
		Section 4.04.
		Payment of Taxes and Other
		Claims.
	 

	 
		The Company shall pay or discharge or cause
		to be paid or discharged, before the same shall become delinquent, (i) all
		material taxes, assessments and governmental charges (including
	 

	 
		 
	 

	 
		 
	 

	 
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		withholding taxes and any penalties,
		interest and additions to taxes) levied or imposed upon it or any of its
		Restricted Subsidiaries or its properties or any of its Restricted
		Subsidiaries’ properties and (ii) all material lawful claims for labor,
		materials and supplies that, if unpaid, might by law become a Lien upon its
		properties or any of its Restricted Subsidiaries’ properties;
		provided, however, that
		the Company shall not be required to pay or discharge or cause to be paid or
		discharged any such tax, assessment, charge or claim whose amount,
		applicability or validity is being or shall be contested in good faith by
		appropriate proceedings properly instituted and diligently conducted for which
		adequate reserves, to the extent required under GAAP, have been taken.
	 

	 
		Section 4.05.
		Maintenance of Properties and
		Insurance.
	 

	 
		(a) The Company shall, and shall cause each
		of its Restricted Subsidiaries to, maintain its properties in good working
		order and condition in all material respects (subject to ordinary wear and
		tear) and make all necessary repairs, renewals, replacements, additions,
		betterments and improvements thereto and actively conduct and carry on its
		business; provided,
		however, that nothing in this Section 4.05
		shall prevent the Company or any of its Restricted Subsidiaries from
		discontinuing the operation and maintenance of any of its properties if such
		discontinuance is, in the good faith judgment of the Board of Directors or
		other governing body of the Company or the Subsidiary concerned, as the case
		may be, desirable in the conduct of its businesses and is not disadvantageous
		in any material respect to the Holders.
	 

	 
		(b) The Company shall maintain insurance
		(including appropriate self-insurance) against loss or damage of the kinds
		that, in the good faith judgment of the Company, are adequate and appropriate
		for the conduct of the business of the Company and its Restricted Subsidiaries
		in a prudent manner, with reputable insurers or with the government of the
		United States or an agency or instrumentality thereof, in such amounts, with
		such deductibles, and by such methods as shall be customary, in the good faith
		judgment of the Company, for companies similarly situated in the industry and
		otherwise in accordance with the Security Agreement.
	 

	 
		Section 4.06.
		Compliance Certificate; Notice of
		Default.
	 

	 
		(a) The Company and each Guarantor shall
		deliver to the Trustee, within ninety (90) days after the end of the
		Company’s fiscal year, an Officers’ Certificate stating that a review
		of its activities during the preceding fiscal year has been made under the
		supervision of the signing Officers (one of whom is the principal executive
		officer, principal financial officer or principal accounting officer) with a
		view to determining whether it has kept, observed, performed and fulfilled its
		obligations under this Indenture and further stating, as to each such Officer
		signing such certificate, that to the best of such Officer’s actual
		knowledge the Company during such preceding fiscal year has kept, observed,
		performed and fulfilled each and every condition and covenant under this
		Indenture and no Default or Event of Default occurred during such year and at
		the date of such certificate there is no Default or Event of Default that has
		occurred and is continuing or, if such signers do know of such Default or Event
		of Default, the certificate shall describe the Default or Event of Default and
		its status with particularity. The Officers’ Certificate shall also notify
		the Trustee should the Company elect to change the manner in which it fixes its
		fiscal year end.
	 

	  

	 
		 
	 

	 
		 
	 

	 
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		(b) The annual financial statements
		delivered pursuant to Section
		4.08 shall be accompanied by a written
		report of the Company’s independent accountants (who shall be a firm of
		established national reputation) that in conducting their audit of such
		financial statements nothing has come to their attention that would lead them
		to believe that the Company has violated any provisions hereof insofar as they
		relate to accounting matters or, if any such violation has occurred, specifying
		the nature and period of existence thereof, it being understood that such
		accountants shall not be liable directly or indirectly to any Person for any
		failure to obtain knowledge of any such violation.
	 

	 
		(c) (i) If any Default or Event of Default
		has occurred and is continuing or (ii) if any Holder seeks to exercise any
		remedy hereunder with respect to a claimed Default under this Indenture or the
		Notes, the Company shall deliver to the Trustee, at its address set forth in
		Section 11.02, by registered or certified mail or by telegram, telex
		or facsimile transmission followed by hard copy by registered or certified mail
		an Officers’ Certificate specifying such event, notice or other action and
		the status thereof within five (5) Business Days of any such officer becoming
		aware of such occurrence (provided that
		such officers shall provide such certification at least annually whether or not
		they know of any Default or Event of Default). 
	 

	 
		(d) Not later than the date of making any
		Restricted Payment pursuant to Section
		4.10, the Company shall deliver to the
		Trustee an Officers’ Certificate stating that such Restricted Payment
		complies with this Indenture and setting forth in reasonable detail the basis
		upon which the required calculations were computed, which calculations may be
		based upon the Company’s latest available internal quarterly financial
		statements.
	 

	 
		Section 4.07.
		Compliance with Laws.
	 

	 
		The Company shall, and shall cause each of
		its Subsidiaries to, comply with all applicable statutes, rules, regulations,
		orders and restrictions of the United States, all states and municipalities
		thereof, and of any governmental department, commission, board, regulatory
		authority, bureau, agency and instrumentality of the foregoing, in respect of
		the conduct of its businesses and the ownership of its properties, except for
		such noncompliances as are not in the aggregate reasonably likely to have a
		material adverse effect on the financial condition or results of operations of
		the Company and its Subsidiaries, taken as a whole or the ability of the
		Company to perform its obligations hereunder.
	 

	 
		Section 4.08.
		Reports to Holders.
	 

	 
		Following the 90th day after the Issue Date,
		whether or not required by the rules and regulations of the Commission, so long
		as any Notes are outstanding, the Company will furnish to the Trustee and file
		with the Commission for public availability (unless the Commission will not
		accept such a filing):
	 

	 
		(1) all quarterly and annual financial
		information that would be required to be contained in a filing with the
		Commission on Forms 10-Q and 10-K if the Company were required to file such
		Forms, including a “Management’s Discussion and Analysis of Financial
		Condition and Results of Operations” that describes the financial
		condition and results of operations of the Company and its consolidated
		Subsidiaries (showing in 
	 

	 
		 
	 

	 
		 
	 

	 
		-42-
	 

	 
		 
	 

	 
	 

	 

	 
		reasonable detail, either on the face of the
		financial statements or in the footnotes thereto and in Management’s
		Discussion and Analysis of Financial Condition and Results of Operations, the
		financial condition and results of operations of the Company and its Restricted
		Subsidiaries separate from the financial condition and results of operations of
		the Unrestricted Subsidiaries of the Company, if any) and, with respect to the
		annual information only, a report thereon by the Company’s certified
		independent accountants; provided, that
		certifications required under the Sarbanes-Oxley Act and any corresponding
		rules of the Commission will be required to be provided only to the extent
		required of so-called “voluntary filers”; and
	 

	 
		(2) all current reports that would be
		required to be filed with the Commission on Form 8-K if the Company were
		required to file such reports, 
	 

	 
		in each case, within the time periods
		specified in the Commission’s rules and regulations.
	 

	 
		In addition, following the consummation of
		the Exchange Offer, whether or not required by the rules and regulations of the
		Commission, the Company will file a copy of all such information and reports
		with the Commission for public availability within the time periods specified
		in the Commission’s rules and regulations (unless the Commission will not
		accept such a filing). In addition, for so long as any Notes remain
		outstanding, the Company will furnish to the Holders upon their written
		request, the information required to be delivered pursuant to Rule 144(A)(d)(4)
		under the Securities Act.
	 

	 
		Section 4.09.
		Waiver of Stay, Extension or Usury
		Laws.
	 

	 
		The Company and each of the Guarantors
		covenants (to the extent that it may lawfully do so) that it shall not at any
		time insist upon, plead, or in any manner whatsoever claim or take the benefit
		or advantage of, any stay or extension law or any usury law or other law that
		would prohibit or forgive the Company and each of the Guarantors from paying
		all or any portion of the principal of, premium, if any, interest or Additional
		Interest, if any, on the Notes as contemplated herein, wherever enacted, now or
		at any time hereafter in force, or which may affect the covenants or the
		performance of this Indenture; and (to the extent that it may lawfully do so)
		the Company and each of the Guarantors hereby expressly waives all benefit or
		advantage of any such law, and covenants that it shall not hinder, delay or
		impede the execution of any power herein granted to the Trustee, but shall
		suffer and permit the execution of every such power as though no such law had
		been enacted.
	 

	 
		Section 4.10.
		Limitation on Restricted
		Payments.
	 

	 
		The Company will not, and will not cause or
		permit any of its Restricted Subsidiaries to, directly or indirectly:
	 

	 
		(1) declare or pay any dividend or make any
		distribution on or in respect of shares of Capital Stock of the Company or its
		Restricted Subsidiaries to holders of such Capital Stock, other than (i)
		dividends or distributions payable in Qualified Capital Stock of the Company,
		(ii) dividends or distributions payable to the Company or another of its
		Restricted Subsidiaries and (iii) dividends or distributions by a Restricted
		Subsidiary of
	 

	 
		 
	 

	 
		 
	 

	 
		-43-
	 

	 
		 
	 

	 
	 

	 

	 
		the Company that is not a Wholly Owned
		Subsidiary of the Company to holders of its Capital Stock on a pro rata
		basis;
	 

	 
		(2) purchase, redeem or otherwise acquire or
		retire for value any Capital Stock of the Company or its Restricted
		Subsidiaries or any warrants, rights or options to purchase or acquire shares
		of any class of such Capital Stock;
	 

	 
		(3) make any principal payment on, purchase,
		defease, redeem, prepay, decrease or otherwise acquire or retire for value,
		prior to any scheduled final maturity, scheduled repayment or scheduled sinking
		fund payment, any Indebtedness of the Company or any Guarantor that is
		subordinate or junior in right of payment to the Notes or a Guarantee and any
		deposit with respect to the foregoing; or
	 

	 
		(4) make any Investment (other than
		Permitted Investments);
	 

	 
		(each of the foregoing actions set forth in
		clauses (1), (2),
		(3), and (4) being
		referred to as a “Restricted
		Payment”);
	 

	 
		if at the time of such Restricted Payment or
		immediately after giving effect thereto,
	 

	 
		(i) a Default or an Event of Default shall
		have occurred and be continuing; or
	 

	 
		(ii) the Company is not able to incur at
		least $1.00 of additional Indebtedness (other than Permitted Indebtedness) in
		compliance with Section
		4.12; or
	 

	 
		(iii) the aggregate amount of Restricted
		Payments (including such proposed Restricted Payment) made subsequent to the
		Issue Date (the amount expended for such purposes, if other than in cash, being
		the Fair Market Value of such property as determined in good faith by the Board
		of Directors of the Company at the time of the making thereof) shall exceed the
		sum of:
	 

	 
		(v) 50% of the cumulative Consolidated Net
		Income (or if cumulative Consolidated Net Income is a negative number, 100% of
		such Consolidated Net Income) of the Company earned from the beginning of the
		first fiscal quarter commencing after the Issue Date and ending on the last day
		of the Company’s last fiscal quarter ending prior to the date the
		Restricted Payment occurs for which internal financial statements are available
		(the “Reference
		Date”) (treating such period as a
		single accounting period); plus
	 

	 
		(w) 100% of the aggregate net cash proceeds
		received by the Company from any Person (other than a Subsidiary of the
		Company) from the issuance and sale subsequent to the Issue Date and on or
		prior to the Reference Date of Qualified Capital Stock of the Company or
		contributions in respect thereof or warrants, options or other rights to
		acquire Qualified Capital Stock of the Company; plus
	 

	 
		(x) 100% of the aggregate net cash proceeds
		received from the issuance of Indebtedness or shares of Disqualified Capital
		Stock of the Company
	 

	 
		 
	 

	 
		 
	 

	 
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		that have been converted into or exchanged
		for Qualified Capital Stock of the Company subsequent to the Issue Date and on
		or prior to the Reference Date; plus
	 

	 
		(y) without duplication of any amounts
		included in clause
		(iii)(w) above, 100% of the aggregate
		net cash proceeds of any equity contribution received by the Company from a
		holder of the Company’s Capital Stock subsequent to the Issue Date and on
		or prior to the Reference Date; plus
	 

	 
		(z) without duplication, to the extent not
		included in Consolidated Net Income the sum of (1) the aggregate amount
		returned in cash on or with respect to Investments (other than Permitted
		Investments) made after the Issue Date whether through interest payments,
		principal payments, dividends or other distributions or payments, (2) the net
		cash proceeds received by the Company or any of its Restricted Subsidiaries
		from the disposition of all or any portion of such Investments (other than to a
		Subsidiary of the Company) and (3) upon redesignation of an Unrestricted
		Subsidiary as a Restricted Subsidiary, the fair market value of such Subsidiary
		(valued in each case as provided in the definition of “Investment”);
		provided, however, that
		the sum of clauses (1), (2) and
		(3) above will not exceed the aggregate amount of all such
		Investments made by the Company or any Restricted Subsidiary in the relevant
		Person or Unrestricted Subsidiary after the Issue Date.
	 

	 
		In the case of clauses (iii)(w)
		and (x) above, any net cash proceeds from issuances and sales
		of Qualified Capital Stock of the Company financed directly or indirectly using
		funds borrowed from the Company or any Subsidiary of the Company, shall be
		excluded until and to the extent such borrowing is repaid.
	 

	 
		Notwithstanding the foregoing, the
		provisions set forth in the immediately preceding paragraph do not
		prohibit:
	 

	 
		(1) the payment of any dividend within 60
		days after the date of declaration of such dividend if such payment would have
		been permitted on the date of declaration;
	 

	 
		(2) if no Default or Event of Default shall
		have occurred and be continuing or would exist after giving effect thereto, the
		acquisition of any shares of Qualified Capital Stock of the Company, through
		one or more of: (i) an exchange solely for other shares of Qualified Capital
		Stock of the Company or (ii) the application of net proceeds of a substantially
		concurrent sale for cash (other than to a Subsidiary of the Company) of shares
		of Qualified Capital Stock of the Company or a substantially concurrent
		contribution in respect thereof;
	 

	 
		(3) if no Default or Event of Default shall
		have occurred and be continuing or would exist after giving effect thereto, the
		acquisition of any Indebtedness of the Company or the Guarantors that is
		subordinate or junior in right of payment to the Notes and Guarantees through
		one or more of: (i) an exchange for shares of Qualified Capital Stock of the
		Company, or (ii) the application of net proceeds of a substantially concurrent
		
	 

	 
		 
	 

	 
		-45-
	 

	 
	 

	 

	 
		sale for cash (other than to a Subsidiary of
		the Company) of (a) shares of Qualified Capital Stock of the Company or (b)
		Refinancing Indebtedness;
	 

	 
		(4) if no Default or Event of Default shall
		have occurred and be continuing or would exist after giving effect thereto, an
		Investment in exchange for Qualified Capital Stock of the Company or through
		the application of the net proceeds of a substantially concurrent sale for cash
		(other than to a Subsidiary of the Company) or other issuance of shares of
		Qualified Capital Stock of the Company or a substantially concurrent
		contribution in respect thereof;
	 

	 
		(5) if no Default of Event of Default shall
		have occurred and be continuing or would exist after giving effect thereto,
		Restricted Payments in an aggregate amount not to exceed $2.0 million
		subsequent to the Issue Date;
	 

	 
		(6) distributions, loans or advances to AETG
		in an aggregate amount not to exceed the Permitted Amount during any fiscal
		year; provided, that such amounts are used by AETG to pay ordinary
		operating expenses;
	 

	 
		(7) if no Default or Event of Default shall
		have occurred and be continuing, payments or distributions to, or dividends,
		distributions or advances to AETG to allow AETG to make payments or
		distributions to, dissenting stockholders pursuant to applicable law, pursuant
		to or in connection with a consolidation, merger or transfer of assets that
		complies with the provisions of this Indenture applicable to mergers,
		consolidations and transfers of all or substantially all of the Company’s
		property and assets;
	 

	 
		(8) repurchases of Capital Stock deemed to
		occur upon the exercise of stock options, warrants or other convertible
		securities, to the extent such Capital Stock represents a portion of the
		consideration for such exercise; 
	 

	 
		(9) any purchase or redemption of
		Indebtedness that ranks junior to the notes utilizing any Net Cash Proceeds
		remaining after the Company has complied with the requirements of
		Section 4.15 and Section
		4.16 hereof; 
	 

	 
		(10) the payment of taxes pursuant to the
		Plan of Reorganization; and
	 

	 
		(11) the payment of any distribution to AETG
		in respect of taxes, levies, charges, duties, withholdings or other charges
		imposed by any governmental authority or any interest penalties or other
		liability with respect thereto (collectively, “Taxes”) in
		amounts that do not exceed the aggregate Tax liability of the Company and its
		Restricted Subsidiaries for such calendar year determined for this purpose as
		if the Company and its Restricted Subsidiaries (including any Immaterial
		Subsidiaries that are Restricted Subsidiaries) were a separate affiliated group
		(as defined in Section 1504 of the Internal Revenue Code of 1986, as amended)
		filing a consolidated return, or, to the extent applicable, a separate group
		filing combined or unitary returns.
	 

	 
		In determining the aggregate amount of
		Restricted Payments made subsequent to the Issue Date in accordance with
		clause (iii) of the second immediately preceding paragraph, 
	 

	 
		 
	 

	 
		-46-
	 

	 
	 

	 

	 
		amounts expended pursuant to clauses (1),
		(2)(ii), (3)(ii)(a) and
		(4) of the immediately preceding paragraph shall be
		included in such calculation.
	 

	 
		Not later than the date of making any
		Restricted Payment, the Company shall deliver to the Trustee an Officers’
		Certificate stating that such Restricted Payment complies with this Indenture
		and setting forth in reasonable detail the basis upon which the required
		calculations were computed, which calculations may be based upon the
		Company’s latest available internal quarterly financial statements.

	 

	 
		Section 4.11.
		Limitation on Transactions with
		Affiliates.
	 

	 
		(a) The Company will not, and will not
		permit any of its Restricted Subsidiaries to, directly or indirectly, enter
		into or permit to exist any transaction or series of related transactions
		(including, without limitation, the purchase, sale, lease or exchange of any
		property or the rendering of any service) with, or for the benefit of, any of
		its Affiliates (each an “Affiliate
		Transaction”), other than (x)
		Affiliate Transactions permitted under paragraph (b)
		below and (y) Affiliate Transactions on terms that are no less favorable than
		those that might reasonably have been obtained in a comparable transaction at
		such time on an arm’s-length basis from a Person that is not an Affiliate
		of the Company or such Restricted Subsidiary.
	 

	 
		All Affiliate Transactions (and each series
		of related Affiliate Transactions which are similar or part of a common plan)
		involving aggregate payments or other property with a Fair Market Value in
		excess of $1.0 million shall be approved by a majority of the disinterested
		members of the Board of Directors of the Company or such Restricted Subsidiary,
		as the case may be, such approval to be evidenced by a Board Resolution stating
		that such Board of Directors has determined that such transaction complies with
		the foregoing provisions. If the Company or any of its Restricted Subsidiaries
		enters into an Affiliate Transaction (or a series of related Affiliate
		Transactions related to a common plan) that involves an aggregate Fair Market
		Value of more than $5.0 million, the Company or such Restricted Subsidiary, as
		the case may be, shall, prior to the consummation thereof, obtain a favorable
		opinion as to the fairness of such transaction or series of related
		transactions to the Company or the relevant Restricted Subsidiary, as the case
		may be, from a financial point of view, from an Independent Financial
		Institution and file the same with the Trustee.
	 

	 
		(b) The restrictions set forth in the first
		paragraph of this covenant shall not apply to:
	 

	 
		(1) reasonable fees and compensation paid to
		and indemnity provided on behalf of officers, directors, employees or
		consultants of the Company or any of its Restricted Subsidiaries as determined
		in good faith by the Company’s Board of Directors or senior
		management;
	 

	 
		(2) transactions exclusively between or
		among the Company and any of its Wholly Owned Subsidiaries or exclusively
		between or among such Wholly Owned Subsidiaries; provided, that
		such transactions are not otherwise prohibited by this Indenture.
	 

	 
		(3) any agreement as in effect or entered
		into as of the Issue Date or any amendment thereto or any transaction
		contemplated thereby (including pursuant to any 
	 

	 
		 
	 

	 
		-47-
	 

	 
	 

	 

	 
		amendment thereto and any extension of the
		maturity thereof) and any replacement agreement thereto so long as any such
		amendment or replacement agreement is not more disadvantageous to the Holders
		in any material respect than the original agreement as in effect on the Issue
		Date;
	 

	 
		(4) Restricted Payments permitted by this
		Indenture (including Permitted Investments);
	 

	 
		(5) the issuance of securities or other
		payments, awards or grants in cash, securities or otherwise pursuant to, or the
		funding of, employment arrangements, stock options and stock ownership plans or
		similar employee benefit plans approved by the Board of Directors of the
		Company in good faith and loans to employees of the Company and its
		Subsidiaries which are approved by the Board of Directors of the Company in
		good faith; 
	 

	 
		(6) fees payable pursuant to the Management
		Agreement as in effect on the Issue Date or pursuant to any amendment,
		restatement or replacement thereof to the extent that such amendment,
		restatement or replacement does not provide for any fees or other payments in
		excess of those set forth in the Management Agreement as in effect on the Issue
		Date; 
	 

	 
		(7) the payment of all fees and expenses
		related to the Plan of Reorganization; and
	 

	 
		(8) common insurance policies obtained for
		AETG, the Company or any Subsidiary of AETG or the Company in accordance with
		past practice for which AETG or the Company is reimbursed with premiums and
		deductible obligations attributable to AETG, the Company or any Subsidiary of
		AETG or the Company.
	 

	 
		Section 4.12.
		Limitation on Incurrence of Additional
		Indebtedness.
	 

	 
		The Company will not, and will not permit
		any of its Restricted Subsidiaries to, directly or indirectly, create, incur,
		assume, guarantee, acquire, become liable, contingently or otherwise, with
		respect to, or otherwise become responsible for payment of (collectively,
		“incur”) any Indebtedness (including, without limitation,
		Acquired Indebtedness) other than Permitted Indebtedness and the Notes;
		provided, however, that
		the Company or any of its Restricted Subsidiaries that is (or, upon such
		incurrence, becomes) a Guarantor may incur Indebtedness if:
	 

	 
		(1) on the date of the incurrence of such
		Indebtedness the Consolidated Fixed Charge Coverage Ratio of the Company, after
		giving effect to the incurrence of such Indebtedness, is greater than 2.0 to
		1.0; and
	 

	 
		(2) no Default or Event of Default shall
		have occurred and be continuing at the time of or as a consequence of the
		incurrence of such Indebtedness.
	 

	 
		 
	 

	 
		-48-
	 

	 
	 

	 

	 
		Section 4.13.
		Limitation on Dividend and Other Payment
		Restrictions Affecting Restricted Subsidiaries.
	 

	 
		The Company will not, and will not cause or
		permit any of its Restricted Subsidiaries (other than a Restricted Subsidiary
		that has executed a Guarantee) to, directly or indirectly, create or otherwise
		cause or permit to exist or become effective any encumbrance or restriction on
		the ability of any Restricted Subsidiary of the Company to:
	 

	 
		(1) pay dividends or make any other
		distributions on or in respect of its Capital Stock (it being understood that
		the priority of any Preferred Stock in receiving dividends or liquidating
		distributions prior to dividends or liquidating distributions being paid on
		Common Stock shall not be deemed a restriction on the ability to make
		distributions on Capital Stock);
	 

	 
		(2) make loans or advances or to pay any
		Indebtedness or other obligation owed to the Company or any other of its
		Restricted Subsidiaries; or
	 

	 
		(3) transfer any of its property or assets
		to the Company or any other of its Restricted Subsidiaries; 
	 

	 
		provided, however, that
		the preceding restrictions will not apply to encumbrances or restrictions
		existing under or by reason of:
	 

	 
		(1) applicable law, rule, regulation, order,
		grant or governmental permit;
	 

	 
		(2) this Indenture, the Notes, the
		Guarantees and the Security Agreement;
	 

	 
		(3) customary non-assignment provisions of
		any contract or any lease governing a leasehold interest of any Restricted
		Subsidiary of the Company;
	 

	 
		(4) any instrument governing Acquired
		Indebtedness, which encumbrance or restriction is not applicable to any Person,
		or the properties or assets of any Person, other than the Person or the
		properties or assets of the Person so acquired;
	 

	 
		(5) the Credit Agreement and other
		agreements governing existing Indebtedness as in effect on the Issue Date and
		any amendments, modifications, restatements, renewals, increases, supplements,
		refundings, replacements or refinancings of those agreements; provided, that
		the amendments, modifications, restatements, renewals, increases, supplements,
		refundings, replacement or refinancings are no more restrictive, taken as a
		whole, with respect to such dividend and other payment restrictions than those
		contained in those agreements on the Issue Date;
	 

	 
		(6) agreements existing or entered into on
		the Issue Date to the extent and in the manner such agreements are in effect on
		the Issue Date;
	 

	 
		(7) an agreement governing Indebtedness
		incurred to Refinance the Indebtedness issued, assumed or incurred pursuant to
		an agreement referred to in clause
		(2), (4) or
		(5) above; provided, that
		the provisions relating to such encumbrance or 
	 

	 
		 
	 

	 
		-49-
	 

	 
	 

	 

	 
		restriction taken as a whole contained in
		any such Indebtedness are not materially less favorable to the Company as
		determined by the Board of Directors of the Company in its reasonable and good
		faith judgment than the provisions relating to such encumbrance or restriction
		contained in agreements referred to in such clause (2),
		(4) or (5);
	 

	 
		(8) purchase money obligations for property
		acquired in the ordinary course of business or Capitalized Lease Obligations
		that impose customary restrictions on the property so acquired or
		leased;
	 

	 
		(9) contracts for the sale of assets of
		capital stock, including, without limitation, customary restrictions with
		respect to a Restricted Subsidiary of the Company pursuant to an agreement that
		has been entered into for the sale or disposition of all or substantially all
		of the Capital Stock or assets of such Restricted Subsidiary;
	 

	 
		(10) secured Indebtedness otherwise
		permitted to be incurred pursuant to Section 4.12 and
		4.18 that limit the right of the debtor to dispose of the
		assets securing such Indebtedness;
	 

	 
		(11) customary provisions in joint venture
		agreements and other similar agreements entered into in the ordinary course of
		business;
	 

	 
		(12) customary net worth and restrictions on
		transfer, assignment or subletting provisions contained in leases and other
		agreements entered into by the Company or any of its Restricted
		Subsidiaries;
	 

	 
		(13) any agreement governing Indebtedness
		permitted to be incurred pursuant to Section 4.12;
		provided that the provisions relating to such encumbrance or
		restriction contained in such Indebtedness, taken as a whole, are no less
		favorable to the Company in any material respect as determined by the Board of
		Directors of the Company in its reasonable and good faith judgment that the
		provisions contained in the Credit Agreement or in this Indenture as in effect
		on the Issue Date;
	 

	 
		(14) Refinancing Indebtedness;
		provided that the restrictions contained in the agreements
		governing such Refinancing Indebtedness are not materially more restrictive,
		taken as a whole, than those contained in the agreements governing the
		Indebtedness being Refinanced;
	 

	 
		(15) restrictions on cash or other deposits
		or net worth imposed by customers of the Company under contracts entered into
		in the ordinary course of business; and
	 

	 
		(16) restrictions with respect to a
		Subsidiary of the Company that was not a Subsidiary of the Company on the Issue
		Date in existence at the time such Person becomes a Subsidiary of the Company
		(but not created as a result of or in anticipation of such Person becoming a
		Subsidiary of the Company); provided, that
		such restrictions are not applicable to any other Person or the properties or
		assets of any other Person.
	 

	 
		 
	 

	 
		-50-
	 

	 
	 

	 

	 
		Section 4.14.
		Additional Subsidiary
		Guarantees.
	 

	 
		If (x) the Company or any of its
		Subsidiaries shall organize, acquire or otherwise invest in another Domestic
		Restricted Subsidiary that is not a Guarantor or (y) any Domestic Restricted
		Subsidiary that was an Immaterial Subsidiary is no longer an Immaterial
		Subsidiary, then such transferee or acquired or other Subsidiary shall:
	 

	 
		(1) execute and deliver to the Trustee a
		supplemental indenture in form reasonably satisfactory to the Trustee pursuant
		to which such Subsidiary shall unconditionally guarantee on a senior secured
		basis all of the Company’s obligations under the Notes and this Indenture
		on the terms set forth herein;
	 

	 
		(2) if required by the second paragraph of
		Section 4.18, (a) execute and deliver to the Collateral Agent and
		the Trustee such amendments to the Security Documents as the Collateral Agent
		deems necessary or advisable in order to grant to the Collateral Agent, for the
		benefit of the Holders, a perfected first priority security interest in the
		Capital Stock of such Subsidiary, subject to the Liens permitted pursuant to
		the second paragraph Section
		4.18, which are owned by the Company or
		any Subsidiary and required to be pledged pursuant to the Security Agreement,
		(b) deliver to Collateral Agent the certificates representing such Capital
		Stock, together with undated stock powers or instruments of transfer, as
		applicable, endorsed in blank;
	 

	 
		(3) cause such Subsidiary to take such other
		actions necessary or advisable to grant to the Collateral Agent for the benefit
		of the Holders and the Trustee a perfected first priority security interest in
		the Guarantor First Lien Collateral of such Subsidiary and a perfected second
		priority security interest in the Guarantor Second Lien Collateral, in each
		case subject to Permitted Prior Liens, including the filing of Uniform
		Commercial Code financing statements in such jurisdictions as may be required
		by the Security Agreement or by law or as may be reasonably requested by the
		Collateral Agent;
	 

	 
		(4) take such further action and execute and
		deliver such other documents specified in this Indenture or otherwise
		reasonably requested by the Trustee or the Collateral Agent to effectuate the
		foregoing; and
	 

	 
		(5) deliver to the Trustee an Opinion of
		Counsel that such supplemental indenture and any other documents required to be
		delivered have been duly authorized, executed and delivered by such Subsidiary
		and constitute the legal, valid, binding and enforceable obligations of such
		Subsidiary as provided for in this Indenture.
	 

	 
		Thereafter, such Subsidiary shall be a
		Guarantor for all purposes of this Indenture.
	 

	 
		Section 4.15.
		Limitation on Change of Control.
	 

	 
		(a) Upon the occurrence of a Change of
		Control, the Company shall make an offer to purchase all outstanding Notes
		pursuant to the requirements described in clause (b) below
		(the “Change of Control
		Offer”) at a purchase price in
		cash equal to 101% of the aggregate principal amount thereof on the date of
		purchase plus accrued and unpaid interest and Additional Interest,
	 

	 
		 
	 

	 
		-51-
	 

	 
	 

	 

	 
		if any, to the date of purchase, subject to
		the rights of Holders of Notes on the relevant Record Date.
	 

	 
		(b) Within thirty (30) days following the
		date upon which the Change of Control occurred (the “Change
		of Control Date”), the Company
		shall send, by registered first class mail, postage prepaid, an offer to each
		record Holder as shown on the register of Holders, with a copy to the Trustee,
		which offer shall govern the terms of the Change of Control Offer. The notice
		to the Holders shall contain all instructions and materials necessary to enable
		such Holders to tender Notes pursuant to the Change of Control Offer. Such
		offer shall state:
	 

	 
		(1) that the Change of Control Offer is
		being made pursuant to this Section 4.15 and that all Notes tendered and not withdrawn shall be
		accepted for payment;
	 

	 
		(2) the purchase price (including the amount
		of accrued interest and Additional Interest, if any) and the purchase date,
		which shall be no earlier than thirty (30) days nor later than sixty (60) days
		from the date such offer is mailed, other than as may be required by law (the
		“Change of Control Payment
		Date”);
	 

	 
		(3) that any Note not tendered shall
		continue to accrue interest or Additional Interest, if any;
	 

	 
		(4) that, unless the Company defaults in
		making payment therefor, any Note accepted for payment pursuant to the Change
		of Control Offer shall cease to accrue interest and Additional Interest, if
		any, after the Change of Control Payment Date;
	 

	 
		(5) that Holders electing to have a Note
		purchased pursuant to a Change of Control Offer shall be required to surrender
		the Note, with the form entitled “Option of Holder to Elect Purchase”
		on the reverse of the Note completed, to the Paying Agent at the address
		specified in the offer prior to the close of business on the third Business Day
		prior to the Change of Control Payment Date;
	 

	 
		(6) that Holders shall be entitled to
		withdraw their election if the Paying Agent receives, not later than five (5)
		Business Days prior to the Change of Control Payment Date, a telegram, telex,
		facsimile transmission or letter setting forth the name of the Holder, the
		principal amount of the Notes the Holder delivered for purchase and a statement
		that such Holder is withdrawing its election to have such Notes
		purchased;
	 

	 
		(7) that Holders whose Notes are purchased
		only in part shall be issued new Notes in a principal amount equal to the
		unpurchased portion of the Notes surrendered; provided that
		each Note purchased and each new Note issued shall be in an original principal
		amount of $1,000 or integral multiples thereof; and
	 

	 
		(8) the circumstances and relevant facts
		regarding such Change of Control.
	 

	 
		If any of the Notes subject to the Change of
		Control Offer is in the form of a Global Note, then the Company shall modify
		such notice to the extent necessary to comply with the procedures of the
		Depository applicable to repurchases.
	 

	 
		 
	 

	 
		-52-
	 

	 
	 

	 

	 
		On or before the Change of Control Payment
		Date, the Company shall (i) accept for payment all Notes or portions thereof
		properly tendered pursuant to the Change of Control Offer, (ii) deposit with
		the Paying Agent U.S. Legal Tender sufficient to pay the purchase price plus
		accrued interest and Additional Interest, if any, on all Notes or portions
		thereof so tendered and (iii) deliver or cause to be delivered to the Trustee
		the Notes so accepted together with an Officers’ Certificate stating the
		aggregate principal amount of Notes or portions thereof being purchased by the
		Company. The Paying Agent shall promptly mail to the Holders of Notes so
		tendered the purchase price for such Notes and the Company shall promptly issue
		and the Trustee shall promptly authenticate and mail (or cause to be
		transferred by book entry) to each Holder a new Note equal in principal amount
		to any unpurchased portion of the Notes surrendered; provided that
		each such new Note shall be in a principal amount of $1,000 or an integral
		multiple thereof. Any Notes not so accepted shall be promptly mailed by the
		Company to the Holders thereof. For purposes of this Section 4.15,
		the Trustee shall act as the Paying Agent.
	 

	 
		Any amounts remaining after the purchase of
		Notes pursuant to a Change of Control Offer shall be returned by the Trustee to
		the Company.
	 

	 
		Notwithstanding anything to the contrary
		contained herein, neither the Board of Directors of the Company nor the Trustee
		may waive the Company’s obligation to offer to purchase the Notes pursuant
		to this Section 4.15.
	 

	 
		The Company shall comply with the
		requirements of Rule 14e-1 under the Exchange Act and any other securities laws
		and regulations thereunder to the extent such laws and regulations are
		applicable in connection with the repurchase of Notes pursuant to a Change of
		Control Offer. To the extent the provisions of any securities laws or
		regulations conflict with the provisions under this Section 4.15,
		the Company shall comply with the applicable securities laws and regulations
		and shall not be deemed to have breached its obligations under this
		Section 4.15 by virtue thereof.
	 

	 
		The Company shall not be required to make a
		Change of Control Offer upon a Change of Control if (1) a third party makes the
		Change of Control Offer in the manner, at the times and otherwise in compliance
		with the requirements of this Section
		4.15 and purchases all Notes validly
		tendered and not withdrawn under such Change of Control Offer or (2) an
		irrevocable notice of redemption has been given, prior to the occurrence of the
		Change of Control, pursuant to Section
		3.01 to redeem all of the Notes then
		outstanding.
	 

	 
		Section 4.16.
		Limitation on Asset
		Sales. The Company will not, and will
		not permit any of its Restricted Subsidiaries to, consummate an Asset Sale
		unless:
	 

	 
		(1) the Company or the applicable Restricted
		Subsidiary, as the case may be, receives consideration at the time of such
		Asset Sale at least equal to the Fair Market Value of the assets sold or
		otherwise disposed of (as determined in good faith by senior management or, in
		the case of an Asset Sale in excess of $5.0 million, the Company’s Board
		of Directors);
	 

	 
		 
	 

	 
		-53-
	 

	 
	 

	 

	 
		(2) at least 75% of the consideration
		received by the Company or the Restricted Subsidiary, as the case may be, from
		such Asset Sale shall be in the form of cash or Cash Equivalents and is
		received at the time of such disposition; provided that
		(a) the amount of any liabilities (as shown on the most recent applicable
		balance sheet) of the Company or such Restricted Subsidiary (other than
		liabilities that are by their terms subordinated to the Notes) that are assumed
		by the transferee of any such assets shall be deemed to be cash for the
		purposes of this clause
		(2) so long as the documents governing
		such liabilities provide that there is no further recourse to the Company or
		any of its Subsidiaries with respect to such liabilities and (b) any
		securities, notes or other obligations received by the Company or any such
		Restricted Subsidiary from the transferee that are contemporaneously, subject
		to ordinary settlement periods, converted by the Company or such Restricted
		Subsidiary into cash, shall be deemed to be cash to the extent of the cash
		received in that conversion; and
	 

	 
		(3) upon the consummation of an Asset Sale,
		the Company shall apply, or cause such Restricted Subsidiary to apply, the Net
		Cash Proceeds relating to such Asset Sale within 360 days of receipt
		thereof:
	 

	 
		(a) to repay Indebtedness under the Credit
		Agreement;
	 

	 
		(b) to make an investment in properties and
		assets that replace the properties and assets that were the subject of such
		Asset Sale or in the business of the Company and its Restricted Subsidiaries as
		existing on the Issue Date (“Replacement Assets”); or
	 

	 
		(c) a combination of prepayment and
		investment permitted by the foregoing clauses (3)(a)
		and (3)(b).
	 

	 
		On the 361st day after an Asset Sale or such
		earlier date, if any, as the senior management or the Board of Directors of the
		Company or of such Restricted Subsidiary determines not to apply the Net Cash
		Proceeds relating to such Asset Sale as set forth in clauses (3)(a),
		(3)(b) and (3)(c) of the
		immediately preceding paragraph (each, a “Net Proceeds Offer Trigger Date”), such aggregate amount of Net Cash Proceeds
		which have not been applied on or before such Net Proceeds Offer Trigger Date
		as permitted in clauses
		(3)(a), (3)(b) and
		(3)(c) of the immediately preceding paragraph (each a
		“Net Proceeds Offer
		Amount”) shall be applied by the
		Company or such Restricted Subsidiary to make an offer to purchase (the
		“Net Proceeds Offer”) on a date (the “Net Proceeds Offer Payment Date”) not less than 30 nor more than 60 days following
		the applicable Net Proceeds Offer Trigger Date, from all Holders on a
		pro rata basis, that amount of Notes equal to the Net Proceeds
		Offer Amount at a price equal to 100% of the principal amount of the Notes to
		be purchased, plus accrued and unpaid interest and Additional Interest, if any,
		thereon, to the date of purchase; provided,
		however, that if at any time any non-cash consideration
		received by the Company or any of its Restricted Subsidiaries, as the case may
		be, in connection with any Asset Sale is converted into or sold or otherwise
		disposed of for cash (other than interest received with respect to any such
		non-cash consideration), then such conversion or disposition shall be deemed to
		constitute an Asset Sale hereunder on the date of such conversion or
		disposition, as the case may be, and the Net Cash Proceeds thereof shall be
		applied in accordance with this Section
		4.16.
	 

	 
		 
	 

	 
		-54-
	 

	 
	 

	 

	 
		The Company may defer any Net Proceeds Offer
		until there is an aggregate unutilized Net Proceeds Offer Amount equal to or in
		excess of $5.0 million resulting from one or more Asset Sales in which case the
		accumulation of such amount shall constitute a Net Proceeds Offer Trigger Date
		(at which time, the entire unutilized Net Proceeds Offer Amount, and not just
		the amount in excess of $5.0 million, shall be applied as required pursuant to
		the immediately preceding paragraph).
	 

	 
		In the event of the transfer of
		substantially all (but not all) of the property and assets of the Company and
		its Restricted Subsidiaries as an entirety to a Person in a transaction
		permitted under Section
		5.01, which transaction does not
		constitute a Change of Control, the successor corporation shall be deemed to
		have sold the properties and assets of the Company and its Restricted
		Subsidiaries not so transferred for purposes of this covenant, and shall comply
		with the provisions of clause
		(3) of the first paragraph of this
		Section 4.16 with respect to such deemed sale as if it constituted
		an Asset Sale. In addition, the Fair Market Value of such properties and assets
		of the Company or its Restricted Subsidiaries deemed to be sold shall be deemed
		to be Net Cash Proceeds for purposes of this Section 4.16.
	 

	 
		Each notice of a Net Proceeds Offer shall be
		mailed to the record Holders as shown on the register of Holders within 25 days
		following the Net Proceeds Offer Trigger Date, with a copy to the Trustee, and
		shall comply with the procedures set forth in this Indenture. Upon receiving
		notice of the Net Proceeds Offer, Holders may elect to tender their Notes in
		whole or in part in integral multiples of $1,000 in exchange for cash. To the
		extent Holders properly tender Notes in an amount exceeding the Net Proceeds
		Offer Amount, Notes of tendering Holders will be purchased on a pro rata basis
		(based on amounts tendered). To the extent that the aggregate amount of the
		notes tendered pursuant to a Net Proceeds Offer is less than the Net Proceeds
		Offer Amount, the Company may use such excess Net Proceeds Offer Amount for
		general corporate purposes or for any other purposes not prohibited by this
		Indenture. Upon completion of any such Net Proceeds Offer, the Net Proceeds
		Offer Amount shall be reset at zero. A Net Proceeds Offer shall remain open for
		a period of 20 Business Days or such longer period as may be required by
		law.
	 

	 
		Pending the final application of the Net
		Cash Proceeds, the Company and any its Restricted Subsidiaries may temporarily
		reduce Indebtedness or otherwise use such Net Cash Proceeds in any manner not
		prohibited by this Indenture.
	 

	 
		The Company will comply with the
		requirements of Rule 14e-1 under the Exchange Act and any other securities laws
		and regulations thereunder to the extent such laws and regulations are
		applicable in connection with the repurchase of Notes pursuant to a Net
		Proceeds Offer. To the extent that the provisions of any securities laws or
		regulations conflict with this Section
		4.16, the Company shall comply with the
		applicable securities laws and regulations and shall not be deemed to have
		breached its obligations under Section
		4.16 by virtue thereof.
	 

	 
		Section 4.17.
		Impairment of Security
		Interest.
	 

	 
		Neither the Company nor any of its
		Restricted Subsidiaries will take or omit to take any action which would
		materially adversely affect or impair the Liens in favor of the Collateral
		Agent, on behalf of itself, the Trustee and the Holders, with respect to the
		Collateral. Neither the 
	 

	 
		 
	 

	 
		-55-
	 

	 
	 

	 

	 
		Company nor any of its Restricted
		Subsidiaries shall grant to any Person, or permit any Person to retain (other
		than the Collateral Agent), any interest whatsoever in the Collateral other
		than Permitted Liens. Neither the Company nor any of its Restricted
		Subsidiaries will enter into any agreement that requires the proceeds received
		from any sale of Collateral to be applied to repay, redeem, defease or
		otherwise acquire or retire any Indebtedness of any Person, other than as
		permitted by this Indenture, the Notes, the Security Documents and the
		Intercreditor Agreement. The Company shall, and shall cause each Guarantor to,
		at their sole cost and expense, execute and deliver all such agreements and
		instruments as the Collateral Agent or the Trustee shall reasonably request to
		more fully or accurately describe the property intended to be Collateral or the
		obligations intended to be secured by the Security Documents. The Company
		shall, and shall cause each Restricted Subsidiary of the Company to, at their
		sole cost and expense, file any such notice filings or other agreements or
		instruments as may be required under applicable law to perfect the Liens
		created by the Security Documents at such times and at such places as the
		Collateral Agent or the Trustee may reasonably request.
	 

	 
		Section 4.18.
		Limitation on Liens.
	 

	 
		The Company will not, and will not cause or
		permit any of its Restricted Subsidiaries to, directly or indirectly, create,
		incur, assume or permit or suffer to exist any Liens (other than Permitted
		Liens) of any kind against or upon any property or assets of the Company or any
		of its Restricted Subsidiaries, other than the Capital Stock of any Subsidiary
		of the Company to the extent permitted by the immediately following paragraph,
		whether owned on the Issue Date or acquired after the Issue Date, or any
		proceeds therefrom, or assign or otherwise convey any right to receive income
		or profits therefrom.
	 

	 
		The Company will not, and will not cause or
		permit any of its Restricted Subsidiaries to, create, incur, assume or permit
		or suffer to exist any Liens (other than Liens pursuant to clauses (1),
		(4), (10),
		(12), (14) and
		(17) of the definition of Permitted Liens) of any kind
		against or upon the Capital Stock of any Subsidiary of the Company, whether
		owned on the Issue Date or acquired after the Issue Date, unless all payments
		due under this Indenture and the Notes are secured on an equal and ratable
		basis with the obligations so secured until such time as such obligations are
		no longer secured by a Lien.
	 

	 
		Section 4.19.
		Conduct of Business.
	 

	 
		The Company and its Restricted Subsidiaries
		will not engage in any businesses which are not the same, similar or reasonably
		related, complementary or ancillary to the businesses in which the Company and
		its Restricted Subsidiaries are engaged on the Issue Date except to such extent
		as would not be material to the Company and its Restricted Subsidiaries taken
		as a whole.
	 

	 
		Section 4.20.
		Limitation on Issuances and Sales of
		Capital Stock of Subsidiaries.
	 

	 
		The Company will not permit or cause any of
		its Restricted Subsidiaries to issue or sell any Capital Stock (other than to
		the Company or a Wholly Owned Subsidiary of the Company and other than
		directors’ qualifying shares) or permit any Person (other than the Company
		or a Wholly Owned Subsidiary of the Company and other than directors’
		qualifying shares) to own or hold any Capital Stock of any Restricted
		Subsidiary of the Company or any Lien or security 
	 

	 
		 
	 

	 
		-56-
	 

	 
	 

	 

	 
		interest therein; provided,
		however, that this Section 4.20
		shall not prohibit the sale of all of the Capital Stock of a Restricted
		Subsidiary in compliance with the provisions of Section 4.16.
	 

	 
		Section 4.21.
		Payments For Consent. The Company will not, and will not permit any of its
		Restricted Subsidiaries to, directly or indirectly, pay or cause to be paid any
		consideration to or for the benefit of any Holder for or as an inducement to
		any consent, waiver or amendment of any of the terms or provisions of this
		Indenture, the Notes, the Registration Rights Agreement, any Security Document
		or the Intercreditor Agreement unless such consideration is paid to all Holders
		that consent, waive or agree to amend in the time frame set forth in the
		solicitation documents relating to such consent, waiver or agreement.
	 

	 
		Section 4.22.
		Real Estate Mortgages and
		Recordings.
	 

	 
		With respect to any fee interest in the real
		property (individually and collectively, the “Premises”),
		owned by the Company or a Domestic Restricted Subsidiary on the Issue Date or
		acquired by the Company or a Domestic Restricted Subsidiary after the Issue
		Date with (1) a purchase price or (2) as of the date such real property is
		acquired, a Fair Market Value, of greater than $200,000 (“Pledged Real Estate”):
	 

	 
		(1) the Company will deliver to the
		Collateral Agent, as mortgagee, fully-executed counterparts of Mortgages, duly
		executed by the Company or the applicable Domestic Restricted Subsidiary,
		together with evidence of the completion (or satisfactory arrangements for the
		completion), of all recordings and filings of such Mortgage as may be necessary
		or, in the reasonable opinion of the Collateral Agent desirable, to create a
		valid, perfected Lien, subject to Permitted Liens, against the properties
		purported to be covered thereby;
	 

	 
		(2) the Company will deliver to the
		Collateral Agent mortgagee’s title insurance policies in favor of the
		Collateral Agent, as mortgagee for the ratable benefit of the Collateral Agent,
		the Trustee and the Holders in an amount equal to 100% of the Fair Market Value
		of the Premises purported to be covered by the related Mortgage, insuring that
		title to such property is marketable and that the interests created by the
		Mortgage constitute valid Liens thereon free and clear of all Liens, defects
		and encumbrances other than Permitted Liens, and such policies shall also
		include, to the extent available, such endorsements as the Collateral Agent
		shall reasonably request and shall be accompanied by evidence of the payment in
		full of all premiums thereon; and
	 

	 
		(3) the Company will deliver to the
		Collateral Agent, with respect to each of the covered Premises, the most recent
		survey of such Premises, together with either (i) an updated survey
		certification in favor of the Trustee and the Collateral Agent from the
		applicable surveyor stating that, based on a visual inspection of the property
		and the knowledge of the surveyor, there has been no change in the facts
		depicted in the survey or (ii) an affidavit from the Company and the Guarantors
		state that there has been no change, other than, in each case, changes that do
		not materially adversely affect the use by the Company or Guarantor, as
		applicable, of such Premises for the Company or such Guarantor’s business
		as so conducted, or intended to be conducted, at such Premises.
	 

	 
		 
	 

	 
		-57-
	 

	 
	 

	 

	 
		The Company will use commercially reasonable
		efforts to deliver all items required to be delivered pursuant to
		clauses (1), (2) and
		(3) above, 90 days after the Issue Date (in the case of
		real property owned by the Company or any Domestic Restricted Subsidiary as of
		the Issue Date) and 90 days after the date of acquisition (in the case of real
		property acquired by the Company or any Domestic Restricted Subsidiary after
		the Issue Date).
	 

	 
		ARTICLE FIVE
	 

	 
		SUCCESSOR CORPORATION
	 

	 
		Section 5.01.
		Merger, Consolidation and Sale of
		Assets. The Company will not, in a
		single transaction or series of related transactions, consolidate or merge with
		or into any Person, or sell, assign, transfer, lease, convey or otherwise
		dispose of (or cause or permit any Restricted Subsidiary of the Company to
		sell, assign, transfer, lease, convey or otherwise dispose of) all or
		substantially all of the Company’s assets (determined on a consolidated
		basis for the Company and the Company’s Restricted Subsidiaries) whether
		as an entirety or substantially as an entirety to any Person unless:
	 

	 
		(1) either:
	 

	 
		(a) the Company shall be the surviving or
		continuing corporation; or
	 

	 
		(b) the Person (if other than the Company)
		formed by such consolidation or into which the Company is merged or the Person
		which acquires by sale, assignment, transfer, lease, conveyance or other
		disposition the properties and assets of the Company and of the Company’s
		Restricted Subsidiaries substantially as an entirety (the “Surviving Entity”):
	 

	 
		(x) shall be a corporation organized and
		validly existing under the laws of the United States or any State thereof or
		the District of Columbia; and
	 

	 
		(y) shall expressly assume, (i) by
		supplemental indenture (in form and substance satisfactory to the Trustee),
		executed and delivered to the Trustee, the due and punctual payment of the
		principal of, and premium, if any, interest on and Additional Interest, if any,
		on all of the Notes and the performance of every covenant of the Notes, this
		Indenture, the Security Documents and the Registration Rights Agreement on the
		part of the Company to be performed or observed thereunder and (ii) by
		amendment, supplement or other instrument (in form and substance satisfactory
		to the Trustee and the Collateral Agent), executed and delivered to the
		Trustee, all obligations of the Company under the Security Documents, and in
		connection therewith shall cause such instruments to be filed and recorded in
		such jurisdictions and take such other actions as may be required by applicable
		law to perfect or continue the perfection of the Lien created under the
		Security Documents on the Collateral owned by or transferred to the Surviving
		Entity;
	 

	 
		 
	 

	 
		-58-
	 

	 
	 

	 

	 
		(2) immediately after giving effect to such
		transaction on a pro
		forma basis and the assumption
		contemplated by clause
		(1)(b)(y) above (including giving
		effect to any Indebtedness (including Acquired Indebtedness) incurred or
		anticipated to be incurred in connection with or in respect of such
		transaction), the Company or such Surviving Entity, as the case may be, (a)
		shall have a Consolidated Net Worth at least equal to the Consolidated Net
		Worth of the Company immediately prior to such transaction and (b) shall be
		able to incur at least $1.00 of additional Indebtedness (other than Permitted
		Indebtedness) in compliance with Section
		4.12;
	 

	 
		(3) immediately after giving effect to such
		transaction and the assumption contemplated by clause (1)(b)(y)
		above (including, without limitation, giving effect to any Indebtedness
		(including Acquired Indebtedness) incurred or anticipated to be incurred and
		any Lien granted in connection with or in respect of the transaction), no
		Default or Event of Default shall have occurred or be continuing; and
	 

	 
		(4) the Company or the Surviving Entity, as
		the case may be, shall have delivered to the Trustee an Officers’
		Certificate and an Opinion of Counsel, each stating that such consolidation,
		merger, sale, assignment, transfer, lease, conveyance or other disposition and,
		if a supplemental indenture is required in connection with such transaction,
		such supplemental indenture comply with the applicable provisions of this
		Indenture and that all conditions precedent in this Indenture relating to such
		transaction have been satisfied.
	 

	 
		Notwithstanding the foregoing, (a) the
		merger of the Company with an Affiliate incorporated solely for the purpose of
		reincorporating the Company in another jurisdiction in the United States or any
		State thereof of the District of Columbia shall be permitted and (b) the merger
		of any Restricted Subsidiary of the Company into the Company or the transfer,
		lease, conveyance or other disposition of all or substantially all of the
		assets of a Restricted Subsidiary of the Company to the Company shall be
		permitted so long as the Company (i) delivers to the Trustee an Officers’
		Certificate stating that the purpose of such merger, transfer, lease,
		conveyance or other disposition is not to consummate a transaction that would
		otherwise be prohibited by this covenant and (ii) complies in the case of a
		merger described in clause
		(a) above, with clauses (1)(b)
		and (4) of the immediately preceding paragraph.
	 

	 
		For purposes of the foregoing, the transfer
		(by lease, assignment, sale or otherwise, in a single transaction or series of
		transactions) of all or substantially all of the properties or assets of one or
		more Restricted Subsidiaries of the Company the Capital Stock of which
		constitutes all or substantially all of the properties and assets of the
		Company, shall be deemed to be the transfer of all or substantially all of the
		properties and assets of the Company. 
	 

	 
		Section 5.02.
		Successor Corporation
		Substituted. Upon any consolidation,
		combination or merger or any transfer of all or substantially all of the assets
		of the Company in accordance with the foregoing, in which the Company is not
		the continuing corporation, the successor Person formed by such consolidation
		or into which the Company is merged or to which such conveyance, lease or
		transfer is made shall succeed to, and be substituted for, and may exercise
		every right and power of, the Company under this Indenture and the Notes with
		the same effect as if such surviving entity had been named as such. Upon such
		substitution the 
	 

	 
		 
	 

	 
		-59-
	 

	 
	 

	 

	 
		Company and any Guarantors that remain
		Subsidiaries of the Company shall be released from this Indenture and the
		Notes.
	 

	 
		ARTICLE SIX
	 

	 
		DEFAULT AND REMEDIES
	 

	 
		Section 6.01. Events of Default.
	 

	 
		Each of the following is an “Event of
		Default”:
	 

	 
		(1) the Company or any Guarantor fails to
		pay the interest and Additional Interest, if any, on any Notes or any other
		amount (other than principal for or premium, if any, on the Notes) when the
		same becomes due and payable and the default continues for a period of thirty
		(30) days;
	 

	 
		(2) the Company or any Guarantor fails to
		pay the principal of, or premium, if any, on, any Notes, when such principal or
		premium, as the case may be, becomes due and payable, at maturity, upon
		redemption or otherwise (including the failure to make a payment to purchase
		Notes tendered pursuant to a Change of Control Offer or a Net Proceeds
		Offer);
	 

	 
		(3) a default occurs in the observance or
		performance of any other covenant or agreement contained in this Indenture
		(other than the payment of the principal of, or premium, if any, or interest or
		Additional Interest, if any, on any Note) or any Security Document which
		default continues for a period of 45 days after the Company receives written
		notice specifying the default (and demanding that such default be remedied)
		from the Trustee or the Holders of at least 25% of the outstanding principal
		amount of the Notes (except in the case of a default with respect to
		Section 5.01, which will constitute an Event of Default with such
		notice requirement but without such passage of time requirement);
	 

	 
		(4) the Company or any Guarantor fails to
		pay at final stated maturity (giving effect to any applicable grace periods and
		any extensions thereof) the principal amount of any Indebtedness of the Company
		or any of its Restricted Subsidiaries, or the acceleration of the final stated
		maturity of any such Indebtedness (which acceleration is not rescinded,
		annulled or otherwise cured within 20 days from the date of acceleration) if
		the aggregate principal amount of such Indebtedness, together with the
		principal amount of any other such Indebtedness in default for failure to pay
		principal at final stated maturity or which has been accelerated (in each case
		with respect to which the 20-day period described above has elapsed), exceeds
		$10.0 million or more at any time;
	 

	 
		(5) one or more judgments in an aggregate
		amount in excess of $10.0 million (which are not covered by a reputable and
		solvent third party insurer as to which such insurer has not disclaimed
		coverage) shall have been rendered against the Company or any of its Restricted
		Subsidiaries and such judgments remain undischarged, unpaid or unstayed for a
		period of 60 consecutive days after such judgment or judgments become final and
		non-appealable;
	 

	 
		 
	 

	 
		 
	 

	 
		-60-
	 

	 
		 
	 

	 
	 

	 

	 
		(6) the Company or any Significant
		Subsidiary (A) commences a voluntary case or proceeding under any Bankruptcy
		Code with respect to itself, (B) consents to the entry of a judgment, decree or
		order for relief against it in an involuntary case or proceeding under any
		Bankruptcy Code, (C) consents to the appointment of a Custodian of it or for
		substantially all of its property, (D) consents to or acquiesces in the
		institution of a bankruptcy or an insolvency proceeding against it, (E) makes a
		general assignment for the benefit of its creditors; or (F) takes any corporate
		action to authorize or effect any of the foregoing;
	 

	 
		(7) a court of competent jurisdiction enters
		a judgment, decree or order for relief in respect of the Company or any
		Significant Subsidiary in an involuntary case or proceeding under any
		Bankruptcy Code, which shall (A) approve as properly filed a petition seeking
		reorganization, arrangement, adjustment or composition in respect of the
		Company or any Significant Subsidiary, (B) appoint a Custodian of the Company
		or any Significant Subsidiary or for substantially all of its property or (C)
		order the winding-up or liquidation of its affairs; and such judgment, decree
		or order shall remain unstayed and in effect for a period of sixty (60)
		consecutive days;
	 

	 
		(8) any Security Document at any time for
		any reason shall cease to be in full force and effect, or shall cease to grant
		the Collateral Agent the Liens, rights, powers and privileges purported to be
		created thereby, superior to and prior to the rights of all third Persons other
		than the holders of Permitted Liens and subject to no other Liens except as
		expressly permitted by the applicable Security Document;
	 

	 
		(9) the Company or any of the Subsidiaries,
		directly or indirectly, contest in any manner the effectiveness, validity,
		binding nature or enforceability of any Security Document; or
	 

	 
		(10) any Guarantee of a Guarantor that is a
		Significant Subsidiary ceases to be in full force and effect or any Guarantee
		of a Guarantor that is a Significant Subsidiary is declared to be null and void
		and unenforceable or any Guarantee of a Guarantor that is a Significant
		Subsidiary is found to be invalid or any Guarantor that is a Significant
		Subsidiary denies its liability under its Guarantee (other than by reason of
		the release of such Guarantor in accordance with the terms hereof).
	 

	 
		Section 6.02. Rights of the Company.
	 

	 
		So long as no Event of Default has occurred
		and is continuing, and subject to certain terms and conditions in this
		Indenture, the Credit Agreement, the Security Documents and the Intercreditor
		Agreement, the Company shall be entitled to receive all cash dividends,
		interest and other payments made upon or with respect to the Capital Stock of
		any of its Subsidiaries held as Collateral and to exercise any voting,
		consensual and other rights pertaining to such Capital Stock. Upon the
		occurrence and during the continuance of an Event of Default, subject to the
		terms of the Intercreditor Agreement, upon notice from the Collateral Agent,
		(a) all of the Company’s rights to exercise such voting, consensual or
		other rights shall cease and all such rights shall become vested in the
		Collateral Agent, which, to the extent permitted by law, shall have the sole
		right to exercise such voting, consensual or other rights, (b) all of the
		Company’s 
	 

	 
		 
	 

	 
		 
	 

	 
		-61-
	 

	 
		 
	 

	 
	 

	 

	 
		rights to receive all cash dividends,
		interest and other payments made upon or with respect to the Collateral shall
		cease, and such cash dividends, interest and other payments shall be paid to
		the Collateral Agent or the Lender, and (c) the Collateral Agent may sell the
		Collateral or any part thereof in accordance with the Security Documents,
		subject to the terms of the Intercreditor Agreement. All funds distributed
		under the Security Documents by the Collateral Agent shall be distributed by
		the Collateral Agent in accordance with the provisions of the Intercreditor
		Agreement and this Indenture.
	 

	 
		Section 6.03. Acceleration.
	 

	 
		(a) If an Event of Default (other than an
		Event of Default specified in Section
		6.01(6) or (7) above with
		respect to the Company) shall occur and be continuing and has not been waived,
		the Trustee or the Holders of at least 25% in principal amount of outstanding
		Notes may declare the principal of and premium, if any, accrued interest and
		Additional Interest, if any, on all the Notes to be due and payable by notice
		in writing to the Company and the Trustee specifying the respective Event of
		Default and that it is a “notice of acceleration” (the
		“Acceleration
		Notice”), and the same shall
		become immediately due and payable, or if there are any amounts outstanding
		under the Credit Agreement, it shall become immediately due and payable upon
		the first to occur of an acceleration under the Credit Agreement or five
		business days after receipt by the Company and the Administrative Agent under
		the Credit Agreement of such Acceleration Notice (but only if such Event of
		Default is then continuing).
	 

	 
		(b) If an Event of Default specified in
		Section 6.01(6) or (7) above with
		respect to the Company occurs and is continuing, then all unpaid principal of,
		and premium, if any, and accrued and unpaid interest and Additional Interest,
		if any, on all of the outstanding Notes shall automatically become and be
		immediately due and payable without any declaration or other act on the part of
		the Trustee or any Holder.
	 

	 
		(c) At any time after a declaration of
		acceleration with respect to the Notes as described in Section 6.03(a)
		or (b), the Holders of a majority in principal amount of the
		Notes may rescind and cancel such declaration and its consequences: (1) if the
		rescission would not conflict with any judgment or decree; (2) if all existing
		Events of Default have been cured or waived except nonpayment of principal,
		premium, if any, interest or Additional Interest, if any, that has become due
		solely because of the acceleration; (3) to the extent the payment of such
		interest is lawful, interest on overdue installments of interest and overdue
		principal and premium, if any, and Additional Interest, if any, which has
		become due otherwise than by such declaration of acceleration, has been paid;
		(4) if the Company has paid the Trustee its reasonable compensation and
		reimbursed the Trustee for its expenses, disbursements and advances; and (5) in
		the event of the cure or waiver of an Event of Default of the type described in
		Section 6.01(6) or (7), the Trustee
		shall have received an Officers’ Certificate and an Opinion of Counsel
		that such Event of Default has been cured or waived. No such rescission shall
		affect any subsequent Default or impair any right consequent thereto.
	 

	 
		Section 6.04. Other Remedies.
	 

	 
		If an Event of Default occurs and is
		continuing, the Trustee may pursue any available remedy by proceeding at law or
		in equity to collect the payment of principal of, premium, if any, 
	 

	 
		 
	 

	 
		 
	 

	 
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		interest or Additional Interest, if any, on
		the Notes or to enforce the performance of any provision of the Notes, this
		Indenture, any Security Document or any Guarantee.
	 

	 
		The Trustee or the Collateral Agent may
		maintain a proceeding even if it does not possess any of the Notes or does not
		produce any of them in the proceeding. A delay or omission by the Trustee, the
		Collateral Agent or any Holder in exercising any right or remedy accruing upon
		an Event of Default shall not impair the right or remedy or constitute a waiver
		of or acquiescence in the Event of Default. No remedy is exclusive of any other
		remedy. All available remedies are cumulative to the extent permitted by
		law.
	 

	 
		Section 6.05. Waiver of Past Defaults.
	 

	 
		Subject to Sections 2.09,
		6.08 and 9.02, The
		Holders of a majority in principal amount of the Notes may waive any existing
		Default or Event of Default, and its consequences, except (other than as
		provided in Section
		6.03(c)) a default in the payment of
		the principal of or premium, if any, interest or Additional Interest, if any,
		on any Notes or in respect of a covenant or provision which under this
		Indenture cannot be modified or amended without the consent of the Holder of
		each Note then outstanding. When a Default or Event of Default is waived, it is
		cured and ceases.
	 

	 
		Section 6.06. Control by Majority.
	 

	 
		Subject to Section 2.09,
		the Holders of a majority in principal amount of the outstanding Notes may
		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, including, without limitation, any remedies provided for in
		Section 6.04. Subject to Section 7.01 and
		7.02(f), however, the Trustee may refuse to follow any request,
		order or direction that the Trustee reasonably believes conflicts with any law
		or this Indenture, that the Trustee determines may be unduly prejudicial to the
		rights of another Holder, or that may involve the Trustee in personal
		liability; provided that the Trustee may take any other action deemed
		proper by the Trustee which is not inconsistent with such request, order or
		direction.
	 

	 
		Section 6.07. Limitation on Suits.
	 

	 
		A Holder may not pursue any remedy with
		respect to this Indenture or the Notes unless:
	 

	 
		(1) the Holder gives to the Trustee written
		notice of a continuing Event of Default;
	 

	 
		(2) subject to Section 2.09,
		Holders of at least 25% in principal amount of the outstanding Notes make a
		written request to the Trustee to institute proceedings in respect of that
		Event of Default;
	 

	 
		(3) such Holders offer to the Trustee
		security or indemnity reasonably satisfactory to the Trustee against any loss,
		liability or expense to be incurred in compliance with such request, order or
		direction;
	 

	 
		 
	 

	 
		 
	 

	 
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		(4) the Trustee does not comply with the
		request within sixty (60) days after receipt of the request and the offer of
		indemnity; and
	 

	 
		(5) during such sixty (60) day period the
		Holders of a majority in principal amount of the outstanding Notes do not give
		the Trustee a direction which, in the opinion of the Trustee, is inconsistent
		with the request.
	 

	 
		The foregoing limitations shall not apply to
		a suit instituted by a Holder for the enforcement of the payment of principal
		of, premium, if any, interest or Additional Interest, if any, on such Note on
		or after the respective due dates set forth in such Note (including upon
		acceleration thereof) or the institution of any proceeding with respect to this
		Indenture or any remedy hereunder, including without limitation acceleration,
		by the Holders of a majority in principal amount of outstanding Notes;
		provided that upon institution of any proceeding or exercise of
		any remedy, such Holders provide the Trustee with prompt notice thereof.

	 

	 
		A Holder may not use this Indenture to
		prejudice the rights of another Holder or to obtain a preference or priority
		over such other Holder.
	 

	 
		Section 6.08. Rights of Holders to Receive Payment.
	 

	 
		Notwithstanding any other provision of this
		Indenture, the right of any Holder to receive payment of principal of, premium,
		if any, interest and Additional Interest, if any, on a Note, on or after the
		respective due dates expressed in such Note, or to bring suit for the
		enforcement of any such payment on or after such respective dates, shall not be
		impaired or affected without the consent of such Holder.
	 

	 
		Section 6.09. Collection Suit by Trustee or Collateral
		Agent.
	 

	 
		If an Event of Default in payment of
		principal of, premium, if any, interest or Additional Interest, if any,
		specified in Section
		6.01(1) or (2) occurs and
		is continuing, the Trustee and the Collateral Agent may recover judgment (i) in
		its own name and (ii) (x) in the case of the Trustee, as trustee of an express
		trust or (y) in the case of the Collateral Agent, as collateral agent on behalf
		of each of the Secured Parties, in each case against the Company or any other
		obligor on the Notes for the whole amount of principal, premium, if any, and
		accrued interest and Additional Interest, if any, remaining unpaid, together
		with interest on overdue principal and, to the extent that payment of such
		interest is lawful, interest on overdue installments of interest and Additional
		Interest, if any, at the rate set forth in Section 4.01 and
		such further amount as shall be sufficient to cover the costs and expenses of
		collection, including the reasonable compensation, expenses, disbursements and
		advances of the Trustee, the Collateral Agent and their respective agents and
		counsel and any other amounts due the Trustee under the Security Documents and
		Section 7.07.
	 

	 
		Section 6.10. Trustee May File Proofs of Claim.
	 

	 
		The Trustee is authorized to file such
		proofs of claim and other papers or documents as may be necessary or advisable
		in order to have the claims of the Trustee (including any claim for the
		reasonable compensation, expenses, taxes, disbursements and advances of the
		Trustee, its agents and counsel) and the Holders allowed in any judicial
		proceedings relating to the Company 
	 

	 
		 
	 

	 
		 
	 

	 
		-64-
	 

	 
		 
	 

	 
	 

	 

	 
		or any other obligor upon the Notes, any of
		their respective creditors or any of their respective property and shall be
		entitled and empowered to collect and receive any monies or other property
		payable or deliverable on any such claims and to distribute the same, and any
		Custodian in any such judicial proceedings is hereby authorized by each Holder
		to make such payments to the Trustee and, in the event that the Trustee shall
		consent to the making of such payments directly to the Holders, to pay to the
		Trustee any amount due to it for the reasonable compensation, expenses, taxes,
		disbursements and advances of the Trustee, its agents and counsel, and any
		other amounts due the Trustee under the Intercreditor Agreement, the Security
		Documents and Section
		7.07. The Company’s payment
		obligations under this Section
		6.10 shall be secured in accordance
		with the provisions of Section
		7.07. 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 Notes 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 6.11. Priorities.
	 

	 
		If the Trustee or the Collateral Agent
		collects any money or property pursuant to this Article VI, it
		shall, subject to the terms of the Intercreditor Agreement, pay out the money
		in the following order:
	 

	 
		First: to the Trustee, the Collateral Agent,
		the Paying Agent and the Registrar for amounts due under Section 7.07
		(including payment of all compensation expense, all liabilities incurred and
		all advances made by the Trustee and the costs and expenses of
		collection);
	 

	 
		Second: if the Holders are forced to proceed
		against the Company directly without the Trustee, to Holders for their
		collection costs;
	 

	 
		Third: to Holders for amounts due and unpaid
		on the Notes for principal, premium, if any, and interest and Additional
		Interest, if any, ratably, without preference or priority of any kind,
		according to the amounts due and payable on the Notes for principal, premium,
		if any, and interest and Additional Interest, if any, respectively; and
	 

	 
		Fourth: to the Company or any other obligor
		on the Notes, as their interests may appear, or as a court of competent
		jurisdiction may direct.
	 

	 
		The Trustee, upon prior notice to the
		Company, may fix a record date and payment date for any payment to Holders
		pursuant to this Section
		6.11.
	 

	 
		Section 6.12. Undertaking for Costs.
	 

	 
		All parties to this Indenture agree, and
		each Holder by its acceptance of its Note shall be deemed to have agreed, that
		in any suit for the enforcement of any right or remedy under this Indenture or
		in any suit against the Trustee for any action taken or omitted by it as
		Trustee, a court in its discretion may require the filing by any party litigant
		in the suit of an undertaking to pay the costs of the suit, and the court in
		its discretion may assess reasonable costs, including reasonable
		attorneys’ fees, against any party litigant in the suit, having due regard
		to the merits
	 

	 
		 
	 

	 
		 
	 

	 
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		and good faith of the claims or defenses
		made by the party litigant. This Section
		6.12 does not apply to a suit by the
		Trustee, a suit by a Holder pursuant to Section 6.08, or
		a suit by a Holder or Holders of more than 10% in principal amount of the
		outstanding Notes.
	 

	 
		Section 6.13. Restoration
		of Rights and Remedies.
	 

	 
		If the Trustee or any Holder has instituted
		any proceedings to enforce any right or remedy under this Indenture and such
		proceeding has been discontinued or abandoned for any reason, or has 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, the Trustee
		and the Holders shall be restored severally and respectively to their former
		positions hereunder and thereafter all rights and remedies of the Trustee and
		the Holders shall continue as though no such proceeding has been
		instituted.
	 

	 
		ARTICLE SEVEN
	 

	 
		TRUSTEE
	 

	 
		Section 7.01. Duties of Trustee.
	 

	 
		The duties and responsibilities of the
		Trustee shall be as provided by the TIA and as set forth herein.
	 

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

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

	 
		(1) the duties of the Trustee shall be
		determined solely by the express provisions of this Indenture and the Trustee
		need perform only those duties as are specifically set forth in this Indenture
		and the Security Documents and no covenants or obligations shall be implied in
		or read into this Indenture against the Trustee; and
	 

	 
		(2) in the absence of bad faith on its part,
		the Trustee may conclusively rely, as to the truth of the statements and the
		correctness of the opinions expressed therein, upon certificates or opinions
		furnished to the Trustee and conforming to the requirements of this Indenture
		and the Security Documents; provided,
		however, in case of any such certificates or opinions furnished
		to the Trustee which by the provisions hereof are furnished to the Trustee, the
		Trustee shall examine the certificates and opinions to determine whether or not
		they conform to the requirements of this Indenture and the Security
		Documents.
	 

	 
		(c) Notwithstanding anything to the contrary
		herein contained, the Trustee may not be relieved from liability for its own
		negligent action, its own negligent failure to act, or its own willful
		misconduct, except that:
	 

	 
		 
	 

	 
		 
	 

	 
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		(1) this paragraph does not limit the effect
		of paragraph (b) of this Section 7.01;
	 

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

	 
		(3) the Trustee shall not be liable with
		respect to any action it takes or omits to take in good faith in accordance
		with a direction received by it pursuant to Section 6.06.
	 

	 
		(d) No provision of this Indenture shall
		require the Trustee to expend or risk its own funds or otherwise incur any
		liability. The Trustee shall be under no obligation to exercise of any of its
		rights or powers under this Indenture, the Intercreditor Agreement or the
		Security Documents at the request of any Holders unless such Holder has offered
		to the Trustee security and indemnity satisfactory to the Trustee against such
		risk or liability is not reasonably assured to it.
	 

	 
		(e) Whether or not therein expressly so
		provided, every provision of this Indenture that in any way relates to the
		Trustee is subject to paragraphs
		(a), (b),
		(c) and (d) of this
		Section 7.01.
	 

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

	 
		(g) The Trustee shall not be liable for the
		failure to perform its duties and obligations hereunder to the extent such
		failure is directly caused by the failure of the Company to perform its
		obligations hereunder.
	 

	 
		Section 7.02. Rights of Trustee.
	 

	 
		Subject to Section 7.01:
	 

	 
		(a) The Trustee may conclusively rely and
		shall be fully protected in acting or refraining from acting upon any
		resolution, certificate, statement instrument, opinion, report, request
		direction, consent, order, bond, note or other paper or document believed by it
		to be genuine and to have been signed or presented by the proper Person. The
		Trustee need not investigate any fact or matter stated in the document.
	 

	 
		(b) Before the Trustee acts or refrains from
		acting, it may consult with counsel and may require an Officers’
		Certificate or an Opinion of Counsel, or both, which shall conform to
		Sections 11.04 and 11.05. The
		Trustee shall not be liable for any action it takes or omits to take in good
		faith in reliance on such Officers’ Certificate or Opinion of Counsel. The
		written advice of the Trustee’s counsel or any Opinion of Counsel shall be
		full and complete authorization and protection from liability in respect
		
	 

	 
		 
	 

	 
		 
	 

	 
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		of any action taken, suffered or omitted by
		the Trustee hereunder in good faith and in reliance thereon.
	 

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

	 
		(d) The Trustee shall not be liable for any
		action that it takes or omits to take in good faith which it reasonably
		believes to be authorized or within its rights or powers under this
		Indenture.
	 

	 
		(e) The Trustee shall not be bound to make
		any investigation into the facts or matters stated in any resolution,
		certificate, statement, instrument, opinion, notice, request, direction,
		consent, order, bond, debenture, 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 be entitled, upon reasonable
		notice to the Company, to examine the books, records and premises of the
		Company, personally or by agent or attorney and to consult with the officers
		and representatives of the Company, including the Company’s accountants
		and attorneys. Except as expressly stated herein to the contrary, in no event
		shall the Trustee have any responsibility to ascertain whether there has been
		compliance with any of the covenants or provisions of Articles IV or
		V.
	 

	 
		(f) The Trustee shall be under no obligation
		to exercise any of the rights or powers vested in it by this Indenture at the
		request, order or direction of any of the Holders pursuant to the provisions of
		this Indenture unless such Holders shall have offered to the Trustee security
		or indemnity reasonably satisfactory to the Trustee against the costs, expenses
		and liabilities which may be incurred by it in compliance with such request,
		order or direction.
	 

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

	 
		(h) Unless otherwise specifically provided
		in this Indenture, any demand, request, direction or notice from the Company
		shall be sufficient if signed by an Officer of the Company and any resolution
		of the Board of Directors shall be sufficient if evidenced by a copy of such
		resolution certified by an Officer of the Company to have been duly adopted and
		in full force and effect on the date hereof.
	 

	 
		(i) 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 shall not be responsible for any willful
		misconduct or negligence on the part of any agent or attorney appointed with
		due care by it hereunder.
	 

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

	 
		 
	 

	 
		 
	 

	 
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		(k) The Trustee shall not be deemed to have
		notice or be charged with knowledge of any Default or Event of Default unless
		the Trustee shall have received from the Company, any Guarantor or any other
		obligor upon the Notes or from any Holder written notice thereof at its address
		set forth in Section
		11.02 hereof, and such notice
		references the Notes and this Indenture.
	 

	 
		(l) The rights, privileges, protections,
		immunities and benefits given to the Trustee, including, without limitation,
		its right to be indemnified, are extended to, and shall be enforceable by, the
		Trustee in each of its capacities hereunder, and each agent, custodian and
		other Person employed to act hereunder.
	 

	 
		(m) The Trustee may request that the Company
		deliver an Officers’ Certificate setting forth the names of individuals
		and/or titles of officers authorized at such time to take specified actions
		pursuant to this Indenture, which Officers’ Certificate may be signed by
		any persons authorized to sign an Officers’ Certificate, including any
		person specified as so authorized in any such certificate previously delivered
		and not superseded.
	 

	 
		(n) The permissive right of the Trustee to
		take any action under this Indenture or any Security Documents shall not be
		construed as a duty to so act.
	 

	 
		Section 7.03. Individual Rights of Trustee.
	 

	 
		The Trustee in its individual or any other
		capacity may become the owner or pledgee of Notes and may otherwise deal with
		the Company, any Subsidiary of the Company or their respective Affiliates with
		the same rights it would have if it were not Trustee. Any Agent may do the same
		with like rights. However, the Trustee must comply with Sections 7.10
		and 7.11 of this Indenture, and the Trustee is subject to TIA
		Sections 310(b) and 311.
	 

	 
		Section 7.04. Trustee’s Disclaimer.
	 

	 
		The Trustee makes no representation as to
		the validity, adequacy or sufficiency of this Indenture, the Notes, the
		Intercreditor Agreement or the Security Documents, and it shall not be
		accountable for the Company’s use of the proceeds from the Notes, and it
		shall not be responsible for any statement of the Company in this Indenture,
		the Notes, the Intercreditor Agreement, the Security Documents or any other
		documents in connection with the issuance of the Notes other than the
		Trustee’s certificate of authentication, which shall be taken as the
		statement of Company, and the Trustee assumes no responsibility for their
		correctness.
	 

	 
		Beyond the exercise of reasonable care in
		the custody thereof and the fulfillment of its obligations under this Indenture
		and the Collateral Documents, the Trustee shall have no duty as to any
		Collateral in its possession or control or in the possession or control of any
		agent or bailee or any income thereon or as to preservation of rights against
		prior parties or any other rights pertaining thereto. The Trustee shall be
		deemed to have exercised reasonable care in the custody of the Collateral in
		its possession if the Collateral is accorded treatment substantially equal to
		that which it accords its own property.
	 

	 
		The Trustee makes no representations as to
		and shall not be responsible for the existence, genuineness, value, sufficiency
		or condition of any of the Collateral or as to the security afforded 
	 

	 
		 
	 

	 
		 
	 

	 
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		or intended to be afforded thereby, hereby
		or by any Collateral Document, or for the validity, perfection, priority or
		enforceability of the Liens or security interests in any of the Collateral
		created or intended to be created by any of the Security Documents, whether
		impaired by operation of law or by reason of any action or omission to act on
		its part hereunder, except to the extent such action or omission constitutes
		gross negligence or willful misconduct on the part of the Trustee, for the
		validity or sufficiency of the Collateral, any Security Documents or any
		agreement or assignment contained in any thereof, for the validity of the title
		of the Company or any Guarantor to the Collateral, for insuring the Collateral
		or for the payment of taxes, charges, assessments or Liens upon the Collateral
		or otherwise as to the maintenance of the Collateral. The Trustee shall have no
		duty to ascertain or inquire as to the performance or observance of any of the
		terms of this Indenture or any other Security Document by the Company or any
		other Person that is a party thereto or bound thereby.
	 

	 
		Section 7.05. Notice of Default.
	 

	 
		If a Default or an Event of Default occurs
		and is continuing and if a Trust Officer has actual knowledge or has received
		written notice from the Company or any Holder, the Trustee shall mail to each
		Holder, with a copy to the Company, notice of the Default or Event of Default
		within thirty (30) days thereof. Except in the case of a Default or an Event of
		Default in payment of principal of, premium, if any, or interest or Additional
		Interest, if any, on, any Note, including an accelerated payment and the
		failure to make payment on the Change of Control Payment Date pursuant to a
		Change of Control Offer and, except in the case of a failure to comply with
		Article V, the Trustee may withhold the notice if and so long as
		its Board of Directors, the executive committee of its Board of Directors or a
		committee of its directors and/or Trust Officers in good faith determines that
		withholding the notice is in the interest of the Holders.
	 

	 
		Section 7.06. Reports by Trustee to Holders.
	 

	 
		Within sixty (60) days after each April 1,
		beginning with April 1, 2008, the Trustee shall, to the extent that any of the
		events described in TIA Section 313(a) occurred within the previous twelve
		months, but not otherwise, mail to each Holder a brief report dated as of such
		date that complies with TIA Section 313(a). The Trustee also shall comply with
		TIA Sections 313(b) and (c).
	 

	 
		A copy of each report at the time of its
		mailing to Holders shall be mailed to the Company and filed by the Company with
		the Commission and each stock exchange or market, if any, on which the Notes
		are listed or quoted.
	 

	 
		The Company shall promptly notify the
		Trustee if the Notes become listed or quoted on any stock exchange or market
		and the Trustee shall comply with TIA Section 313(d).
	 

	 
		Section 7.07. Compensation and Indemnity.
	 

	 
		The Company shall pay to the Trustee, the
		Collateral Agent, the Paying Agent and the Registrar (each an
		“Indemnified Party”) from time to time compensation for their
		respective services as Trustee, Collateral Agent, Paying Agent or Registrar, as
		the case may be. The Trustee’s compensation shall not be limited by any
		law on compensation of a trustee of an express trust. The Company shall
		reimburse each Indemnified Party upon request for all
	 

	 
		 
	 

	 
		 
	 

	 
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		reasonable out-of-pocket expenses incurred
		or made by it in connection with the performance of its duties under, as the
		case may be, this Indenture, the Security Documents or the Intercreditor
		Agreement. Such expenses shall include the reasonable fees and expenses of each
		of such Indemnified Party’s agents and counsel.
	 

	 
		The Company and the Guarantors hereby
		indemnify each Indemnified Party and its agents, employees, stockholders and
		directors and officers for, and holds each of them harmless against, any loss,
		cost, claim, liability or expense (including taxes) incurred by any of them
		except for such actions to the extent caused by any gross negligence or willful
		misconduct on the part of such Indemnified Party, arising out of or in
		connection with this Indenture, the Security Documents or the Intercreditor
		Agreement, or the administration of this trust, including the reasonable costs
		and expenses of enforcing this Indenture against the Company (including this
		Section 7.07) and defending themselves against any claim or
		liability in connection with the exercise or performance of any of their
		rights, powers or duties hereunder or thereunder (including the reasonable fees
		and expenses of counsel). The Trustee shall notify the Company promptly of any
		claim asserted against an Indemnified Party for which such Indemnified Party
		has advised the Trustee that it may seek indemnity hereunder or under the
		Security Documents or Intercreditor Agreement. Failure by the Trustee to so
		notify the Company shall not relieve the Company of its obligations hereunder.
		At the Indemnified Party’s sole discretion, the Company shall defend the
		claim and the Indemnified Party shall cooperate and may participate in the
		defense; provided that any settlement of a claim shall be approved in
		writing by the Indemnified Party. Alternatively, the Indemnified Party may at
		its option have separate counsel of its own choosing and the Company shall pay
		the reasonable fees and expenses of such counsel; provided that
		the Company shall not be required to pay such fees and expenses if it assumes
		the Indemnified Party’s defense and there is no conflict of interest
		between the Company and the Indemnified Party in connection with such defense
		as reasonably determined by the Indemnified Party. The Company need not pay for
		any settlement made without its written consent, which consent shall not be
		unreasonably withheld.
	 

	 
		To secure the Company’s payment
		obligations in this Section
		7.07, each Indemnified Party shall have
		a lien prior to the Notes on all Collateral held or collected by the Trustee,
		in its capacity as Trustee, except assets or money held in trust to pay
		principal of or premium, if any, interest or Additional Interest, if any, on
		particular Notes which have been called for redemption.
	 

	 
		When an Indemnified Party incurs expenses or
		renders services after an Event of Default specified in Section 6.01(6)
		or (7) occurs, such expenses (including the reasonable fees
		and expenses of its counsel) and the compensation for such services are
		intended to constitute expenses of administration under any Bankruptcy
		Code.
	 

	 
		The obligations of the Company under this
		Section 7.07 shall survive the satisfaction and discharge of this
		Indenture, termination of the Security Documents or the Intercreditor Agreement
		or the resignation or removal of the Trustee.
	 

	 
		The Trustee shall comply with the provisions
		of TIA Section 312(b)(2) to the extent applicable.
	 

	 
		 
	 

	 
		 
	 

	 
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		Section 7.08. Replacement of Trustee.
	 

	 
		The Trustee may resign by so notifying the
		Company. The Holders of at least seventy five (75%) percent of the aggregate
		principal amount of the outstanding Notes may remove the Trustee by so
		notifying the Company and the Trustee in writing and may appoint a successor
		Trustee. The Company, by a Board Resolution, may remove the Trustee if:
	 

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

	 
		(2) the Trustee is adjudged bankrupt or
		insolvent;
	 

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

	 
		(4) the Trustee becomes incapable of acting
		with respect to the Notes.
	 

	 
		If the Trustee resigns or is removed or if a
		vacancy exists in the office of Trustee for any reason, the Company shall
		notify each Holder in writing of such event and shall promptly appoint a
		successor Trustee. Within one year after the successor Trustee takes office,
		the Holders of a majority in aggregate principal amount of the outstanding
		Notes may appoint a successor Trustee to replace the successor Trustee
		appointed by the Company.
	 

	 
		A successor Trustee shall deliver a written
		acceptance of its appointment to the retiring Trustee and to the Company and
		thereupon the resignation or removal of the retiring Trustee shall become
		effective and such successor Trustee, without any further act, deed or
		conveyance, shall become vested with all rights, powers, trusts, duties and
		obligations of the retiring Trustee and shall duly assign, transfer and deliver
		to such successor Trustee all property and money held by such Trustee so
		ceasing to act hereunder subject nevertheless to its lien, if any, provided for
		in Section 7.07. Upon request of the Company or the successor Trustee,
		such retiring Trustee shall at the expense of the Company and upon payment of
		the charges of the Trustee then unpaid, 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. Upon
		request of any such successor Trustee or the Holders of a majority in aggregate
		principal amount of the outstanding Notes, the Company shall execute any and
		all instruments for more fully and certainly vesting in and confirming to such
		successor Trustee all such rights, powers and trusts. Immediately after that,
		the retiring Trustee shall transfer all property held by it as Trustee to the
		successor Trustee, subject to the lien provided in Section 7.07,
		the resignation or removal of the retiring Trustee shall become effective, and
		the successor Trustee shall have all the rights, powers and duties of the
		Trustee under this Indenture.
	 

	 
		If a successor Trustee does not take office
		within thirty (30) days after the retiring Trustee resigns or is removed, the
		retiring Trustee, the Company or the Holders of at least 10% in principal
		amount of the outstanding Notes may petition any court of competent
		jurisdiction for the appointment of a successor Trustee.
	 

	 
		 
	 

	 
		 
	 

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

	 
		The Company shall give notice of any
		resignation and any removal of the Trustee and each appointment of a successor
		Trustee to all Holders in writing. Each notice shall include the name of the
		successor Trustee and the address of its Corporate Trust Office.
	 

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

	 
		Section 7.09. Successor Trustee by Merger, Etc.
	 

	 
		If the Trustee consolidates with, merges or
		converts into, or transfers all or substantially all of its corporate trust
		business to, another Person, the resulting, surviving or transferee Person
		without any further act shall, if such resulting, surviving or transferee
		Person is otherwise eligible hereunder, be the successor Trustee;
		provided, however, that
		such Person shall be otherwise qualified and eligible under this
		Article VII.
	 

	 
		In case any Notes have been authenticated,
		but not delivered, by the Trustee then in office, any successor by merger,
		conversion or consolidation to such authenticating Trustee may adopt such
		authentication and deliver the Notes so authenticated with the same effect as
		if such successor Trustee had itself authenticated such Notes.
	 

	 
		Section 7.10. Eligibility; Disqualification.
	 

	 
		(a) This Indenture shall always have a
		Trustee who satisfies the requirements of TIA Sections 310(a)(1), (2), (3) and
		(5). The Trustee (or, in the case of a corporation included in a bank holding
		company system, the related bank holding company) shall have a combined capital
		and surplus of at least $50,000,000 as set forth in its most recent published
		annual report of condition. In addition, if the Trustee is a corporation
		included in a bank holding company system, the Trustee, independently of such
		bank holding company, shall meet the capital requirements of TIA Section
		310(a)(2). The Trustee shall comply with TIA Section 310(b); provided,
		however, that there shall be excluded from the operation of TIA
		Section 310(b)(1) any indenture or indentures under which other securities, or
		certificates of interest or participation in other securities, of the Company
		are outstanding if the requirements for such exclusion set forth in TIA Section
		310(b)(1) are met. The provisions of TIA Section 310 shall apply to the
		Company, as obligor of the Notes.
	 

	 
		(b) If the Trustee has or acquires a
		conflicting interest within the meaning of the TIA, the Trustee shall either
		eliminate such interest or resign, to the extent and in the manner provided by,
		and subject to the provisions of, the TIA and this Indenture.
	 

	 
		 
	 

	 
		 
	 

	 
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		Section 7.11. Preferential Collection of Claims Against
		Company.
	 

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

	 
		Section 7.12. Trustee as Collateral Agent.
	 

	 
		References to the Trustee in Sections 7.01(f), 7.02,
		7.03, 7.04, and
		7.07 shall include the Trustee in its role as Collateral
		Agent and Paying Agent.
	 

	 
		Section 7.13. Co-Trustees, co-Collateral Agent and Separate Trustees,
		Collateral Agent.
	 

	 
		(a) At any time or times, for the purpose of
		meeting the legal requirements of any jurisdiction in which any of the
		Collateral may at the time be located, the Company and the Trustee shall have
		the power to appoint, and, upon the written request of the Trustee or of the
		Holders of at least 25% in principal amount of the Notes outstanding, the
		Company shall for such purpose join with the Trustee in the execution, delivery
		and performance 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, of all or any part of the Collateral, to
		act as co-collateral agent, jointly with the Collateral Agent, or to act as
		separate trustees or Collateral Agent of any such property, 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 7.13. As of the Issue Date, the Company and the Trustee
		hereby appoint The Bank of New York as the initial Collateral Agent and The
		Bank of New York hereby accepts such appointment and agrees to act and serve in
		such capacity. If the Company does not join in such appointment within fifteen
		(15) days after the receipt by it of a request so to do, or in case an Event of
		Default has occurred and is continuing, the Trustee alone shall have the power
		to make such appointment.
	 

	 
		(b) Should any written instrument from the
		Company be required by any co-trustee, co-Collateral Agent or separate trustee
		or separate Collateral Agent so appointed for more fully confirming 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.
	 

	 
		(c) Every co-trustee, co-collateral agent or
		separate trustee or separate collateral agent shall, to the extent permitted by
		law, but to such extent only, be appointed subject to the following terms,
		namely:
	 

	 
		(i) The Notes 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.
	 

	 
		(ii) The rights, powers, duties and
		obligations hereby conferred or imposed upon the Trustee shall be conferred or
		imposed upon and exercised or performed by the
	 

	 
		 
	 

	 
		 
	 

	 
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		Trustee or by the Trustee and such
		co-trustee or separate trustee, or by the Collateral Agent and such
		co-Collateral Agent or separate Collateral Agent, jointly as shall be provided
		in the instrument appointing such co-trustee or separate trustee or
		co-Collateral Agent or separate Collateral Agent, 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, Collateral Agent or
		co-Collateral Agent or separate Collateral Agent.
	 

	 
		(iii) The Trustee at any time, by an
		instrument in writing executed by it, with the concurrence of the Company
		evidenced by a Board Resolution, may accept the resignation of or remove any
		co-trustee or separate trustee appointed under this Section 7.13, and, in
		case an Event of Default has occurred and is continuing, the Trustee shall have
		power to accept the resignation of, or remove, any such co-trustee,
		co-collateral agent, separate trustee or separate collateral agent without the
		concurrence of the Company. Upon the written request of the Trustee, the
		Company shall join with the Trustee in the execution, delivery and performance
		of all instruments and agreements necessary or proper to effectuate such
		resignation or removal. A successor to any co-trustee, co-collateral agent,
		separate trustee or separate collateral agent so resigned or removed may be
		appointed in the manner provided in this Section 7.13.
	 

	 
		(iv) No co-trustee, co-collateral agent,
		separate trustee or separate collateral agent hereunder shall be personally
		liable by reason of any act or omission of the Trustee or the Collateral Agent,
		or any, other such trustee or collateral agent hereunder.
	 

	 
		(v) Any act of Holders delivered to the
		Trustee shall be deemed to have been delivered to each such co-trustee or
		separate trustee and any act of Holders delivered to the Collateral Agent shall
		be deemed to have been delivered to each such co-collateral agent or separate
		collateral agent.
	 

	 
		Section 7.14. 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 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, or representation 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 his
		certificate or opinion is based are erroneous. Any such certificate or opinion
		of counsel or representation by 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 
	 

	 
		 
	 

	 
		 
	 

	 
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		matters is in the possession of the Company,
		unless such counsel knows 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.
	 

	 
		ARTICLE EIGHT
	 

	 
		SATISFACTION AND DISCHARGE OF
		INDENTURE
	 

	 
		Section 8.01. Legal Defeasance and Covenant Defeasance.
	 

	 
		(a) The Company may, at its option and at
		any time, elect to have either paragraph
		(b) or paragraph (c)
		below be applied to the outstanding Notes upon compliance with the applicable
		conditions set forth in paragraph
		(d).
	 

	 
		(b) Upon the Company’s exercise under
		paragraph (a) of the option applicable to this paragraph (b),
		the Company and the Guarantors shall be deemed to have been released and
		discharged from their obligations with respect to the outstanding Notes on the
		date the applicable conditions set forth below are satisfied (hereinafter,
		“Legal Defeasance”). For this purpose, such Legal Defeasance means
		that the Company shall be deemed to have paid and discharged the entire
		Indebtedness represented by the outstanding Notes, which shall thereafter be
		deemed to be “outstanding” only for the purposes of the Sections and
		matters under this Indenture referred to in (i) and (ii) below, and to have
		satisfied all their other obligations under such Notes and this Indenture
		insofar as such Notes are concerned, except for the following which shall
		survive until otherwise terminated or discharged hereunder: (i) the rights of
		Holders of outstanding Notes to receive solely from the trust fund described in
		paragraph (d) below and as more fully set forth in such paragraph
		payments in respect of the principal of, and premium, if any, interest and
		Additional Interest, if any, on such Notes when such payments are due, (ii)
		obligations listed in Section
		8.03, subject to compliance with this
		Section 8.01 and (iii) the rights, powers, trusts, duties and
		immunities of the Trustee and the Company’s obligations in connection
		therewith. The Company may exercise its option under this paragraph
		(b) notwithstanding the prior exercise
		of its option under paragraph
		(c) below with respect to the
		Notes.
	 

	 
		(c) Upon the Company’s exercise under
		paragraph (a) of the option applicable to this paragraph (c),
		the Company and its Restricted Subsidiaries shall be released and discharged
		from their obligations under any covenant contained in Article V,
		Sections 4.05, 4.06 and
		4.08, and Sections
		4.10 through 4.20 and
		4.22 with respect to the outstanding Notes on and after the
		date the conditions set forth below are satisfied (hereinafter,
		“Covenant
		Defeasance”), and the Notes shall
		thereafter be deemed to be not “outstanding” for the purpose of any
		direction, waiver, consent or declaration or act of Holders (and the
		consequences of any thereof) in connection with such covenants, but shall
		continue to be deemed “outstanding” for all other purposes hereunder
		(it being understood that such Notes shall not be deemed outstanding for
		accounting purposes). For this purpose, such Covenant Defeasance means that,
		with respect to the outstanding Notes, the Company may omit to comply with and
		shall have no liability in respect of any term, condition or limitation set
		forth in any such covenant, whether directly or indirectly, by reason of
		
	 

	 
		 
	 

	 
		 
	 

	 
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		any reference elsewhere herein to any such
		covenant or by reason of any reference in any such covenant to any other
		provision herein or in any other document and such omission to comply shall not
		constitute a Default or an Event of Default under Section 6.01(3)
		or 6.01(4), but, except as specified above, the remainder of this
		Indenture and such Notes shall be unaffected thereby. In addition, upon the
		Company’s exercise under paragraph
		(a) hereof of the option applicable to
		this paragraph (c),
		subject to the satisfaction of the conditions set forth in Section 8.03,
		Sections 6.01(3), 6.01(4),
		6.01(5), 6.01(8),
		6.01(9) and 6.01(10) shall
		not constitute Events of Default.
	 

	 
		(d) The following shall be the conditions to
		application of either paragraph
		(b) or paragraph (c)
		above to the outstanding Notes:
	 

	 
		(1) The Company shall have irrevocably
		deposited in trust with the Trustee, for the benefit of the Holders and
		pursuant to an irrevocable trust and security agreement in form and substance
		reasonably satisfactory to the Trustee, U.S. Legal Tender or non-callable U.S.
		Government Obligations or a combination thereof, in such amounts and at such
		times as are sufficient, in the opinion of a nationally-recognized firm of
		independent public accountants, to pay the principal of, and premium, if any,
		interest and Additional Interest, if any, on the outstanding Notes on the
		stated dates for payment or redemption, as the case may be; provided,
		however, that the Trustee (or other qualifying trustee) shall
		have received an irrevocable written order from the Company instructing the
		Trustee (or other qualifying trustee) to apply such U.S. Legal Tender or the
		proceeds of such U.S. Government Obligations to said payments with respect to
		the Notes to maturity or redemption;
	 

	 
		(2) In the event the Company elects
		paragraph (b) above, the Company shall deliver to the Trustee an
		Opinion of Counsel in the United States of America reasonably acceptable to the
		Trustee to the effect that (A) the Company has received from, or there has been
		published by, the Internal Revenue Service a ruling or (B) since the Issue
		Date, there has been a change in the applicable federal income tax law, in
		either case to the effect that, and based thereon such Opinion of Counsel shall
		confirm that, the Holders shall not recognize income, gain or loss for federal
		income tax purposes as a result of such Legal Defeasance contemplated hereby
		and shall be subject to federal income tax in the same amounts, in the same
		manner and at the same times as would have been the case if such Legal
		Defeasance had not occurred;
	 

	 
		(3) in the event the Company elects
		paragraph (c) above, the Company shall deliver to the Trustee an
		Opinion of Counsel in the United States reasonably acceptable to the Trustee
		confirming that the Holders shall not recognize income, gain or loss for
		federal income tax purposes as a result of such Covenant Defeasance
		contemplated hereby and shall be subject to federal income tax in the same
		amounts, in the same manner and at the same times as would have been the case
		if such Covenant Defeasance had not occurred;
	 

	 
		(4) No Default or Event of Default shall
		have occurred and be continuing on the date of such deposit (other than a
		Default or Event of Default resulting from the borrowing of funds to fund the
		deposit referenced in clause
		(1) above);
	 

	 
		 
	 

	 
		 
	 

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

	 
		(6) The Company shall have delivered to the
		Trustee an Officers’ Certificate stating that the deposit under
		clause (1) was not made by the Company with the intent of
		preferring the Holders over any other creditors of the Company or with the
		intent of defeating, hindering, delaying or defrauding any other creditors of
		the Company or others; and
	 

	 
		(7) The Company has delivered to the Trustee
		an Officers’ Certificate and an Opinion of Counsel, which Opinion of
		Counsel may be subject to customary assumptions and exclusions, each stating
		that all conditions precedent specified herein relating to the defeasance
		contemplated by this Section
		8.01 have been complied with.
	 

	 
		Notwithstanding the foregoing, the Opinion
		of Counsel required by Section 8.01(d)(2) above
		with respect to a Legal Defeasance need not be delivered if all Notes not
		theretofore delivered to the Trustee for cancellation (1) have become due and
		payable or (2) shall become due and payable on the maturity date within one
		year or are to be called for redemption within one year under arrangements
		satisfactory to the Trustee for the giving of notice of redemption by the
		Trustee in the name, and at the expense, of the Company.
	 

	 
		In the event all or any portion of the Notes
		are to be redeemed through such irrevocable trust, the Company must make
		arrangements reasonably satisfactory to the Trustee, at the time of such
		deposit, for the giving of the notice of such redemption or redemptions by the
		Trustee in the name and at the expense of the Company.
	 

	 
		Section 8.02. Satisfaction and Discharge.
	 

	 
		In addition to the Company’s rights
		under Section 8.01,
		the Company may terminate all of its obligations under this Indenture (subject
		to Section 8.03), when:
	 

	 
		(1) either:
	 

	 
		(a) all the Notes theretofore authenticated
		and delivered (except lost, stolen or destroyed Notes which have been replaced
		or paid as provided in Section
		2.07 and Notes for whose payment money
		has theretofore been deposited in trust or segregated and held in trust by the
		Company and thereafter repaid to the Company or discharged from such trust)
		have been delivered to the Trustee for cancellation; or
	 

	 
		(b) all Notes not theretofore delivered to
		the Trustee for cancellation (i) have become due and payable, (ii) shall become
		due and payable at their stated maturity within one year or (iii) are to be
		called for redemption within one year under arrangements reasonably
		satisfactory to the Trustee, and the Company has irrevocably deposited or
		caused to be deposited with the Trustee funds in an amount sufficient to pay
		and discharge the entire Indebtedness on the Notes not 
	 

	 
		 
	 

	 
		 
	 

	 
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		theretofore delivered to the Trustee for
		cancellation, for principal of, and premium, if any, interest and Additional
		Interest, if any, on the Notes, to the date of such stated maturity or
		redemption, as the case may be, together with irrevocable instructions from the
		Company directing the Trustee to apply such funds to the payment thereof at
		maturity or redemption, as the case may be;
	 

	 
		(2) all other sums payable under this
		Indenture by the Company have been paid by the Company; and
	 

	 
		(3) the Company has delivered to the Trustee
		an Officers’ Certificate and an Opinion of Counsel stating that all
		conditions precedent under this Indenture relating to the satisfaction and
		discharge of this Indenture have been complied with.
	 

	 
		Section 8.03. Survival of Certain Obligations.
	 

	 
		Notwithstanding the satisfaction and
		discharge of this Indenture and of the Notes referred to in Section 8.01 or
		8.02, the respective obligations of the Company and the
		Trustee under Sections
		2.02, 2.03,
		2.04, 2.05,
		2.06, 2.07,
		2.10, 2.13,
		4.01, 4.02 and
		6.08, Article
		VII and Sections 8.05,
		8.06 and 8.07 shall
		survive until the Notes are no longer outstanding, and thereafter the
		obligations of the Company and the Trustee under Sections 7.07,
		8.05, 8.06 and
		8.07 shall survive.
	 

	 
		Section 8.04. Acknowledgment of Discharge by Trustee.
	 

	 
		Subject to Section 8.07,
		after (i) the conditions of Section
		8.01 or 8.02 have been
		satisfied, (ii) the Company has paid or caused to be paid all other sums
		payable hereunder by the Company and (iii) the Company has delivered to the
		Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
		that all conditions precedent referred to in clause (i) above
		relating to the satisfaction and discharge of this Indenture have been complied
		with, the Trustee upon written request shall acknowledge in writing the
		discharge of the Company’s obligations under this Indenture except for
		those surviving obligations specified in Section 8.03.
	 

	 
		Section 8.05. Application of Trust Moneys.
	 

	 
		The Trustee shall hold any U.S. Legal Tender
		or U.S. Government Obligations deposited with it in the irrevocable trust
		established pursuant to Section
		8.01. The Trustee shall apply the
		deposited U.S. Legal Tender or the U.S. Government obligations, together with
		earnings thereon, through the Paying Agent, in accordance with this Indenture
		and the terms of the irrevocable trust agreement established pursuant to
		Section 8.01, to the payment of principal of, premium, if any, and
		interest and Additional Interest, if any, on the Notes. Anything in this
		Article VIII to the contrary notwithstanding, the Trustee shall
		deliver or pay to the Company from time to time upon the Company’s request
		any U.S. Legal Tender or U.S. Government Obligations held by it as provided in
		Section 8.01(d) which, in the opinion of a nationally-recognized firm
		of independent public accountants expressed in a written certification thereof
		delivered to the Trustee, are in excess of the amount thereof that would then
		be required to be deposited to effect an equivalent Legal Defeasance or
		Covenant Defeasance.
	 

	 
		 
	 

	 
		 
	 

	 
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		Section 8.06. Repayment to the Company; Unclaimed Money.

	 

	 
		Subject to Sections 7.07,
		8.01 and 8.02, the
		Trustee and the Paying Agent shall promptly pay to the Company upon written
		request from the Company any excess U.S. Legal Tender or U.S. Government
		Obligations held by them at any time. The Trustee and the Paying Agent shall
		pay to the Company, upon receipt by the Trustee or the Paying Agent, as the
		case may be, of a written request from the Company any money held by it for the
		payment of principal, premium, if any, or interest or Additional Interest, if
		any, that remains unclaimed for two years after payment to the Holders is
		required, without interest thereon; provided,
		however, that the Trustee and the Paying Agent before being
		required to make any payment may, but need not, at the expense of the Company
		cause to be published once in a newspaper of general circulation in the City of
		New York or mail to each Holder entitled to such money notice that such money
		remains unclaimed and that after a date specified therein, which shall be at
		least thirty (30) days from the date of such publication or mailing, any
		unclaimed balance of such money then remaining shall be repaid to the Company,
		without interest thereon. After payment to the Company, Holders entitled to
		money must look solely to the Company for payment as general creditors unless
		an applicable abandoned property law designated another Person, and all
		liability of the Trustee or Paying Agent with respect to such money shall
		thereupon cease.
	 

	 
		Section 8.07. Reinstatement.
	 

	 
		If the Trustee or Paying Agent is unable to
		apply any U.S. Legal Tender or U.S. Government Obligations in accordance with
		Section 8.01 or 8.02 by reason
		of any legal proceeding or by reason of any order or judgment of any court or
		governmental authority enjoining, restraining or otherwise prohibiting such
		application, the Company’s obligations under this Indenture and the Notes
		shall be revived and reinstated as though no deposit had occurred pursuant to
		Section 8.01 or 8.02 until such
		time as the Trustee or Paying Agent is permitted to apply all such U.S. Legal
		Tender or U.S. Government Obligations in accordance with Section 8.01 or
		8.02; provided,
		however, that if the Company has made any payment of premium,
		if any, or interest or Additional Interest, if any, on or principal of any
		Notes because of the reinstatement of its obligations, the Company shall be
		subrogated to the rights of the Holders of such Notes to receive such payment
		from the money or U.S. Government Obligations held by the Trustee or Paying
		Agent.
	 

	 
		ARTICLE NINE
	 

	 
		AMENDMENTS, SUPPLEMENTS AND
		WAIVERS
	 

	 
		Section 9.01. Without Consent of Holders.
	 

	 
		From time to time, the Company, the
		Guarantors, the Trustee and, if such amendment, modification, waiver or
		supplement relates to any Security Document or the Intercreditor Agreement, the
		Collateral Agent, without the consent of the Holders, may amend, modify, waive
		or supplement provisions of this Indenture, the Notes, the Guarantees, the
		Registration Rights Agreement, the Intercreditor Agreement and the Security
		Documents:
	 

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

	 
		 
	 

	 
		 
	 

	 
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		(2) to provide for uncertificated Notes in
		addition to or in place of certificated Notes;
	 

	 
		(3) to provide for the assumption of the
		Company’s or a Guarantor’s obligations to Holders in the case of a
		merger or consolidation involving the Company or such Guarantor or sale of all
		or substantially all of the assets of the Company or such Guarantor;
	 

	 
		(4) to make any change that would provide
		any additional rights or benefits to the Holders or that does not adversely
		affect the legal rights of any such Holder under this Indenture, the Notes, the
		Guarantees, the Registration Rights Agreement, the Intercreditor Agreement or
		the Security Documents;
	 

	 
		(5) to comply with requirements of the
		Commission in order to effect or maintain the qualification of this Indenture
		under the TIA;
	 

	 
		(6) to allow any Subsidiary or any other
		Person to guarantee the Notes;
	 

	 
		(7) if necessary, in connection with any
		addition or release of Collateral permitted under the terms of this Indenture,
		the Intercreditor Agreement or Security Documents; 
	 

	 
		(8) to conform the text of this Indenture,
		the Notes, the Guarantees or the Security Agreement to any provision of the
		section of the Offering Circular entitled “Description of the Notes”
		to the extent that such provision in this Description of the Notes was intended
		to be a verbatim recitation of a provision of this Indenture, the Notes, the
		Guarantees or the Security Agreement;
	 

	 
		(9) to make, complete or confirm any grant
		of Collateral permitted or required by this Indenture or any of the security
		documents or any release of Collateral that becomes effective as set forth in
		this Indenture or any of the Security Documents; or
	 

	 
		(10) to make any amendment to the provisions
		of this Indenture relating to the form, authentication, transfer and legending
		of the Notes; provided, however, that
		(a) compliance with this Indenture as so amended would not result in the Notes
		being transferred in violation of the Securities Act or any other applicable
		securities law and (b) such amendment does not materially affect the rights of
		Holders to transfer the Notes,
	 

	 
		so long as such amendment, modification or
		supplement does not, in the opinion of the Trustee and, if such amendment,
		modification or supplement relates to any Security Document or the
		Intercreditor Agreement, the Collateral Agent, adversely affect the rights of
		any of the Holders in any material respect.
	 

	 
		Notwithstanding the foregoing, in
		formulating its opinion in regards to Section 9.01(1) through
		(10) the Trustee or the Collateral Agent, as applicable, is
		entitled to rely on such evidence as it deems appropriate, including, without
		limitation, solely on an Opinion of Counsel.
	 

	 
		 
	 

	 
		 
	 

	 
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		Section 9.02. With Consent of Holders.
	 

	 
		Subject to Section 6.08,
		the Company and the Guarantors, when authorized by a Board Resolution, and the
		Trustee or the Collateral Agent, as applicable, together, with the written
		consent of the Holder or Holders of at least a majority in aggregate principal
		amount of the outstanding Notes (subject to Section 2.09),
		may amend or supplement this Indenture, the Notes, any Security Document, the
		Intercreditor Agreement or the Guarantees without notice to any other Holders.
		Subject to Section 6.08 and Section
		2.09, the Holder or Holders of a
		majority in aggregate principal amount of the outstanding Notes may waive
		compliance by the Company with any provision of this Indenture, any Security
		Document or the Notes without notice to any other Holder. However, no
		amendment, supplement or waiver, including a waiver pursuant to Section 6.05,
		shall without the consent of:
	 

	 
		(a) each Holder of each Note affected
		thereby:
	 

	 
		(1) reduce the principal amount of Notes
		whose Holders must consent to an amendment, supplement or waiver of any
		provision of this Indenture or the Notes;
	 

	 
		(2) reduce the rate of or change or have the
		effect of changing the time for payment of interest (including defaulted
		interest but excluding Additional Interest) on any Notes;
	 

	 
		(3) reduce the principal of or change or
		have the effect of changing the fixed maturity of any Notes, or change the date
		on which any Notes may be subject to redemption or reduce the redemption price
		therefor (other than provisions relating to the covenants described in
		Section 4.15 and Section
		4.16 hereof);
	 

	 
		(4) make any Notes payable in money other
		than that stated in the Notes;
	 

	 
		(5) make any change in provisions of this
		Indenture protecting the right of each Holder to receive payment of principal
		of, premium, if any, interest and Additional Interest, if any, on such Note on
		or after the due date thereof or to bring suit to enforce such payment, or
		permitting Holders of a majority in principal amount of Notes to waive Defaults
		or Events of Default;
	 

	 
		(6) modify or change any provision of this
		Indenture or the related definitions affecting the ranking of the Notes or any
		Guarantee in a manner which adversely affects the Holders in a material
		respect; or
	 

	 
		(7) release any Guarantor that is a
		Significant Subsidiary from any of its obligations under its Guarantee or this
		Indenture otherwise than in accordance with the terms of this Indenture;
		or
	 

	 
		 
	 

	 
		 
	 

	 
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		(b) the Holders holding at least 75% in
		aggregate principal amount of the Notes then outstanding, release all or
		substantially all of the Collateral otherwise than in accordance with the terms
		of this Indenture and the Security Documents.
	 

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

	 
		After an amendment, supplement or waiver
		under this Section 9.02 becomes effective, the Company shall mail to the
		Holders affected thereby a notice briefly describing the amendment, supplement
		or waiver. Any failure of the Company to mail such notice, or any defect
		therein, shall not, however, in any way impair or affect the validity of any
		such supplemental indenture.
	 

	 
		Section 9.03. Compliance with TIA.
	 

	 
		Every amendment, waiver or supplement of
		this Indenture, the Notes, the Security Documents, the Intercreditor Agreement
		or the Guarantees shall comply with the TIA as then in effect.
	 

	 
		Section 9.04. Revocation and Effect of Consents.
	 

	 
		Until an amendment, waiver or supplement
		becomes effective, a consent to it by a Holder is a continuing consent by the
		Holder and every subsequent Holder of a Note or portion of a Note that
		evidences the same debt as the consenting Holder’s Note, even if notation
		of the consent is not made on any Note. Subject to the following paragraph, any
		such Holder or subsequent Holder may revoke the consent as to such
		Holder’s Note or portion of such Note by written notice to the Trustee and
		the Company received before the date on which the Trustee and if such
		amendment, waiver or supplement relates to any Security Document or the
		Intercreditor Agreement, the Collateral Agent, receives an Officers’
		Certificate certifying that the Holders of the requisite principal amount of
		Notes have consented (and not theretofore revoked such consent) to the
		amendment, supplement or waiver.
	 

	 
		The Company may, but shall not be obligated
		to, fix a record date for the purpose of determining the Holders entitled to
		consent to any amendment, supplement or waiver, which record date shall be
		either (i) at least thirty (30) days prior to the first solicitation of such
		consent or (ii) the date of the most recent list furnished to the Trustee under
		Section 2.05. If a record date is fixed, then notwithstanding the
		last sentence of the immediately preceding paragraph, those Persons who were
		Holders at such record date (or their duly designated proxies), and only those
		Persons, shall be entitled to revoke any consent previously given, whether or
		not such Persons continue to be Holders after such record date. No such consent
		shall be valid or effective for more than ninety (90) days after such record
		date.
	 

	 
		After an amendment, supplement or waiver
		becomes effective, it shall bind every Holder unless it makes a change
		described in any of clauses
		(1) through (9) of
		Section 9.02, in which case, the amendment, supplement or waiver
		shall bind only each Holder of a Note who has consented to it and every
		subsequent Holder of a Note or portion of a Note that evidences the same debt
		as the consenting Holder’s Note; provided that
		any such waiver shall not impair or 
	 

	 
		 
	 

	 
		 
	 

	 
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		affect the right of any Holder to receive
		payment of principal of, premium, if any, and interest and Additional Interest,
		if any, on a Note, on or after the respective due dates expressed in such Note,
		or to bring suit for the enforcement of any such payment on or after such
		respective dates without the consent of such Holder.
	 

	 
		Section 9.05. Notation on or Exchange of Notes.
	 

	 
		If an amendment, supplement or waiver
		changes the terms of a Note, the Trustee may require the Holder of the Note to
		deliver the Note to the Trustee. The Trustee at the written direction of the
		Company may place an appropriate notation on the Note about the changed terms
		and return it to the Holder and the Trustee may place an appropriate notation
		on any Note thereafter authenticated. Alternatively, if the Company or the
		Trustee so determines, the Company in exchange for the Note shall issue and the
		Trustee shall authenticate a new Note that reflects the changed terms. Failure
		to make an appropriate notation, or issue a new Note, shall not affect the
		validity and effect of such amendment, supplement or waiver. Any such notation
		or exchange shall be made at the sole cost and expense of the Company. Failure
		to make the appropriate notation or issue a new Note shall not effect the
		validity and effect of such amendment, supplement or waiver.
	 

	 
		Section 9.06. Trustee to Sign Amendments, Etc.
	 

	 
		The Trustee or the Collateral Agent, as
		applicable, shall execute any amendment, supplement or waiver authorized
		pursuant to this Article
		IX; provided that
		the Trustee or the Collateral Agent, as applicable, may, but shall not be
		obligated to, execute any such amendment, supplement or waiver which affects
		the rights, duties or immunities of the Trustee or the Collateral Agent, as
		applicable, under this Indenture, any Security Document or the Intercreditor
		Agreement. The Trustee shall be entitled to receive an indemnity reasonably
		satisfactory to it and receive, and shall be fully protected in relying upon,
		an Opinion of Counsel and an Officers’ Certificate each stating that the
		execution of any amendment, supplement or waiver authorized pursuant to this
		Article IX is authorized or permitted by this Indenture. Such
		Opinion of Counsel shall not be an expense of the Trustee and shall be paid for
		by the Company.
	 

	 
		Section 9.07. Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant to this
		Article IX shall conform to the requirements of the TIA as then in
		effect.
	 

	 
		ARTICLE TEN
	 

	 
		GUARANTEE
	 

	 
		Section 10.01. Guarantee.
	 

	 
		Each Guarantor hereby fully, irrevocably and
		unconditionally, jointly and severally, guarantees (such guarantee to be
		referred to herein as the “Guarantee”), to each of the Holders and to the Trustee and
		the Collateral Agent and their respective successors and assigns that (i) the
		principal of, premium, if any and interest and Additional Interest, if any, on
		the Notes shall be promptly paid in full when due, subject to any applicable
		grace period, whether upon redemption pursuant to the terms of the Notes, by
		acceleration or otherwise, and interest on the 
	 

	 
		 
	 

	 
		 
	 

	 
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		overdue principal, if any, and interest on
		any interest and Additional Interest, if any, to the extent lawful, of the
		Notes and all other obligations of the Company to the Holders, the Trustee and
		the Collateral Agent hereunder, thereunder or under any Security Document or
		the Intercreditor Agreement shall be promptly paid in full or performed, all in
		accordance with the terms hereof, thereof and of the Security Documents and
		Intercreditor Agreement; and (ii) in case of any extension of time of payment
		or renewal of any of the Notes or of any such other obligations, the same shall
		be promptly paid in full when due or performed in accordance with the terms of
		the extension or renewal, subject to any applicable grace period, whether at
		stated maturity, by acceleration or otherwise, subject, however, in the case of
		clauses (i) and (ii) above, to
		the limitations set forth in Section
		10.03. The Guarantee of each Guarantor
		shall rank senior in right of payment to all subordinated Indebtedness of such
		Guarantor and equal in right of payment with all other senior obligations of
		such Guarantor, including borrowings or guarantees of borrowings under the
		Credit Agreement. Each Guarantor hereby agrees that its obligations hereunder
		shall be unconditional, irrespective of the validity, regularity or
		enforceability of the Notes, this Indenture, any Security Document or the
		Intercreditor Agreement, the absence of any action to enforce the same, any
		waiver or consent by any of the Holders with respect to any provisions hereof
		or thereof, any release of any other Guarantor, the recovery of any judgment
		against the Company, any action to enforce the same or any other circumstance
		which might otherwise constitute a legal or equitable discharge or defense of a
		Guarantor. Each Guarantor hereby waives diligence, presentment, demand of
		payment, filing of claims with a court in the event of insolvency or bankruptcy
		of the Company, any right to require a proceeding first against the Company,
		protest, notice and all demands whatsoever and covenants that this Guarantee
		shall not be discharged except by complete performance of the obligations
		contained in the Notes, this Indenture and in this Guarantee. The obligations
		of each Guarantor are limited to the maximum amount which, after giving effect
		to all other contingent and fixed liabilities of such Guarantor and after
		giving effect to any collections from or payments made by or on behalf of any
		other Guarantor in respect of the obligations of such other Guarantor under its
		Guarantee or pursuant to its contribution obligations under this Indenture,
		shall result in the obligations of such Guarantor under the Guarantee not
		constituting a fraudulent conveyance or fraudulent transfer under federal or
		state law. The net worth of any Guarantor for such purpose shall include any
		claim of such Guarantor against the Company for reimbursement and any claim
		against any other Guarantor for contribution. Each Guarantor may consolidate
		with or merge into or sell its assets to the Company or another Guarantor
		without limitation in accordance with Sections 5.01
		and 4.16. If any Holder or the Trustee is required by any court or otherwise to
		return to the Company, any Guarantor, or any custodian, trustee, liquidator or
		other similar official acting in relation to the Company or any Guarantor, any
		amount paid by the Company or any Guarantor to the Trustee, the Collateral
		Agent or such Holder, this Guarantee, to the extent theretofore discharged,
		shall be reinstated in full force and effect. Each Guarantor further agrees
		that, as between each Guarantor, on the one hand, and the Holders, the
		Collateral Agent and the Trustee, on the other hand, (x) the maturity of the
		obligations guaranteed hereby may be accelerated as provided in Article VI for
		the purposes of this Guarantee notwithstanding any stay, injunction or other
		prohibition preventing such acceleration in respect of the obligations
		guaranteed hereby, and (y) in the event of any acceleration of such obligations
		as provided in Article
		VI, such obligations (whether or not
		due and payable) shall forthwith become due and payable by each Guarantor for
		the purpose of this Guarantee.
	 

	 
		 
	 

	 
		 
	 

	 
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		Section 10.02. Release of a Guarantor.
	 

	 
		A Guarantor will be released from its
		Guarantee (and may subsequently dissolve) without any action required on the
		part of the Trustee or any Holder:
	 

	 
		(1) if all of the Capital Stock issued by
		such Guarantor or all or substantially all of the assets of such Guarantor are
		sold or otherwise disposed of (including by way of merger or consolidation) to
		a Person other than the Company or any of its Domestic Restricted Subsidiaries
		(other than the Immaterial Subsidiaries) and the Company otherwise complies, to
		the extent applicable, with the covenant described below under Section 4.16
		that are required to be satisfied thereunder either prior to or concurrent with
		the consummation of the applicable transaction, or
	 

	 
		(2) if the Company designates such Guarantor
		as (a) an Unrestricted Subsidiary in accordance with Section 4.10 or
		(b) an Immaterial Subsidiary in accordance with the definition thereof,
	 

	 
		(3) if the Company exercises its legal
		defeasance option or its covenant defeasance option as described in
		Section 8.01, 
	 

	 
		(4) upon satisfaction and discharge of this
		Indenture or payment in full of the principal of, premium, if any, accrued and
		unpaid interest and Additional Interest, if any, on the Notes and all other
		Obligations under the Notes, this Indenture, the Security Documents and the
		Guarantees that are then due and payable, or
	 

	 
		(5) upon:
	 

	 
		(a) in the case where such Guarantor is not
		a Significant Subsidiary, the prior consent of Holders of at least a majority
		in aggregate principal amount of Notes outstanding;
	 

	 
		(b) the consent of the majority of Lenders
		or the Administrative Agent to the release of such Guarantor’s Guarantee
		of all Obligations under the Credit Agreement; and
	 

	 
		(c) the contemporaneous release of such
		Guarantor’s Guarantee of all Obligations under the Credit
		Agreement.
	 

	 
		The Trustee shall promptly deliver an
		appropriate instrument evidencing such release upon receipt of a request by the
		Company accompanied by an Officers’ Certificate certifying as to the
		compliance with this Section
		10.02. Any Guarantor not so released
		remains liable for the full amount of its Guarantee as provided in this
		Article X.
	 

	 
		Section 10.03. Limitation of Guarantor’s Liability.
	 

	 
		Each Guarantor and, by its acceptance
		hereof, each of the Holders hereby confirms that it is the intention of all
		such parties that the guarantee by such Guarantor pursuant to its Guarantee not
		constitute a fraudulent transfer or conveyance for purposes of any Bankruptcy
		Code, the 
	 

	 
		 
	 

	 
		 
	 

	 
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		Uniform Fraudulent Conveyance Act, the
		Uniform Fraudulent Transfer Act or any similar Federal or state law. To
		effectuate the foregoing intention, the Holders and such Guarantor hereby
		irrevocably agree that the obligations of such Guarantor under the Guarantee
		shall be limited to the maximum amount as shall, after giving effect to all
		other contingent and fixed liabilities of such Guarantor and after giving
		effect to any collections from or payments made by or on behalf of any other
		Guarantor in respect of the obligations of such other Guarantor under its
		Guarantee or pursuant to Section
		10.05, result in the obligations of
		such Guarantor under the Guarantee not constituting such fraudulent transfer or
		conveyance.
	 

	 
		Section 10.04. Guarantors May Consolidate, etc., on Certain
		Terms.
	 

	 
		Each Guarantor (other than any Guarantor
		whose Guarantee is to be released in accordance with the terms of the Guarantee
		and this Indenture in connection with any transaction complying with
		Section 4.16) will not, and the Company will not cause or permit any
		Guarantor to, consolidate with or merge with or into any Person other than the
		Company or any other Guarantor unless:
	 

	 
		(1) the entity formed by or surviving any
		such consolidation or merger (if other than the Guarantor) or to which such
		sale, lease, conveyance or other disposition shall have been made is a
		corporation organized and existing under the laws of the United States or any
		State thereof, the District of Columbia or the jurisdiction in which such
		Guarantor is organized;
	 

	 
		(2) such entity assumes (a) by supplemental
		indenture (in form and substance satisfactory to the Trustee), executed and
		delivered to the Trustee, all of the obligations of the Guarantor under the
		Guarantee and, to the extent applicable, the Intercreditor Agreement and (b) by
		amendment, supplement or other instrument (in form and substance satisfactory
		to the Trustee and the Collateral Agent) executed and delivered to the Trustee
		and the Collateral Agent, all obligations of the Guarantor under the Security
		Documents and, to the extent applicable, the Intercreditor Agreement; and in
		connection therewith shall cause such instruments to be filed and recorded in
		such jurisdictions and take such other actions as may be required by applicable
		law to perfect or continue the perfection of the Lien created under the
		Security Documents on the Collateral owned by or transferred to the surviving
		entity;
	 

	 
		(3) immediately after giving effect to such
		transaction, no Default or Event of Default shall have occurred and be
		continuing; and
	 

	 
		(4) immediately after giving effect to such
		transaction and the use of any net proceeds therefrom on a pro
		forma basis, the Company could satisfy the provisions of
		Section 5.01(2).
	 

	 
		Any merger or consolidation of a Guarantor
		with and into the Company (with the Company being the surviving entity) or
		another Guarantor that is a Wholly Owned Subsidiary of the Company need only
		comply with Section
		5.01(4).
	 

	 
		 
	 

	 
		 
	 

	 
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		Section 10.05. Contribution.
	 

	 
		In order to provide for just and equitable
		contribution among the Guarantors, the Guarantors agree, inter se, that each
		Guarantor that makes a payment or distribution under a Guarantee shall be
		entitled to a pro rata contribution from each other Guarantor hereunder based
		on the net assets of each other Guarantor. The preceding sentence shall in no
		way affect the rights of the Holders of Notes to the benefits of this
		Indenture, the Notes or the Guarantees.
	 

	 
		Section 10.06. Waiver of Subrogation.
	 

	 
		Each Guarantor agrees that it shall not be
		entitled to any right of subrogation in relation to the Holders in respect of
		any obligations guaranteed hereby until payment in full of all obligations
		guaranteed hereby.
	 

	 
		Section 10.07. Evidence of Guarantee.
	 

	 
		To evidence their guarantees to the Holders
		set forth in this Article
		X, each of the Guarantors hereby agrees
		to execute the notation of Guarantee in substantially the form included in the
		Notes attached as Exhibit
		A and Exhibit B. Each
		such notation of Guarantee shall be signed on behalf of each Guarantor by an
		Officer or an assistant Secretary. An Officer (who shall, in each case, have
		been duly authorized by all requisite corporate actions) of the Guarantors
		shall execute the Guarantees by manual or facsimile signature.
	 

	 
		If an Officer whose signature is on a Note
		was an Officer at the time of such execution but no longer holds that office or
		position at the time the Trustee authenticates such Note, such Note shall
		nevertheless be valid.
	 

	 
		Each Guarantor hereby agrees that its
		Guarantee set forth in Section
		10.01 shall remain in full force and
		effect notwithstanding any failure to endorse on each Note a notation of such
		Guarantee.
	 

	 
		If an Officer or assistant Secretary whose
		signature is on this Indenture or on the Guarantee no longer holds that office
		at the time the Trustee authenticates the Note on which a Guarantee is
		endorsed, the Guarantee shall be valid nevertheless.
	 

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

	 
		Section 10.08. Waiver of Stay, Extension or Usury Laws.
	 

	 
		Each Guarantor covenants to the extent
		permitted by law that it shall not at any time insist upon, plead, or in any
		manner whatsoever claim or take the benefit or advantage of, any stay or
		extension law or any usury law or other law that would prohibit or forgive such
		Guarantor from performing its Guarantee as contemplated herein, wherever
		enacted, now or at any time hereafter in force, or which may affect the
		covenants or the performance of this Guarantee; and each Guarantor hereby
		expressly waives to the extent permitted by law all benefit or advantage of any
		such law, and covenants that it shall not hinder, delay or impede the 
	 

	 
		 
	 

	 
		 
	 

	 
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		execution of any power herein granted to the
		Trustee, but shall suffer and permit the execution of every such power as
		though no such law had been enacted.
	 

	 
		ARTICLE ELEVEN
	 

	 
		MISCELLANEOUS
	 

	 
		Section 11.01. Trust Indenture Act Controls.
	 

	 
		If any provision of this Indenture limits,
		qualifies, or conflicts with another provision which is required to be included
		in this Indenture by the TIA, the required provision shall control. Any
		provision of the TIA which is required to be included in a qualified Indenture,
		but not expressly included herein, shall be deemed to be included by this
		reference.
	 

	 
		Section 11.02. Notices.
	 

	 
		Any notices or other communications required
		or permitted hereunder shall be in writing, and shall be sufficiently given if
		made by hand delivery, by telex, by telecopier or registered or certified mail,
		postage prepaid, return receipt requested, addressed as follows:
	 

	 
		if to the Company:
	 

	 
		Atlantic Express Transportation Corp.

	 

	 
		7 North Street
	 

	 
		Staten Island, NY 10451
	 

	 
		Attention: Chief Executive Officer
	 

	 
		if to the Trustee:
	 

	 
		The Bank of New York
	 

	 
		Corporate Trust Administration
	 

	 
		101 Barclay Street, 8th Floor West
	 

	 
		New York, NY 10286
	 

	 
		if to the Collateral Agent:
	 

	 
		The Bank of New York
	 

	 
		Corporate Trust Administration
	 

	 
		101 Barclay Street, 8th Floor West
	 

	 
		New York, NY 10286
	 

	 
		Each of the Company and the Trustee by
		written notice to each other may designate additional or different addresses
		for notices to such Person. Any notice or communication to the Company or the
		Trustee shall be deemed to have been given or made as of the date so delivered
		if personally delivered; when answered back, if telexed; when receipt is
		acknowledged, if faxed; and five (5) calendar days after mailing if sent by
		registered or certified mail, postage prepaid (except that a notice of change
		of address or a notice sent by mail to the Trustee shall not be deemed to have
		been given until actually received by the addressee).
	 

	 
		 
	 

	 
		 
	 

	 
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		Any notice or communication mailed to a
		Holder shall be mailed to such Holder by first class mail or other equivalent
		means at such Holder’s address as it appears on the registration books of
		the Registrar and shall be sufficiently given to such Holder if so mailed
		within the time prescribed.
	 

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

	 
		Section 11.03. Communications by Holders with Other
		Holders.
	 

	 
		Holders may communicate pursuant to TIA
		Section 312(b) with other Holders with respect to their rights under this
		Indenture, any Security Document, any Guarantee or the Notes. The Company, the
		Trustee, the Collateral Agent, the Registrar and any other Person shall have
		the protection of TIA Section 312(c).
	 

	 
		Section 11.04. Certificate and Opinion as to Conditions
		Precedent.
	 

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

	 
		(1) an Officers’ Certificate, in form
		and substance reasonably satisfactory to the Trustee, stating that, in the
		opinion of the signers, all conditions precedent to be performed by the Company
		or the applicable Guarantor (as the case may be), if any, provided for in this
		Indenture or any Security Document relating to the proposed action have been
		complied with; and
	 

	 
		(2) an Opinion of Counsel stating that, in
		the opinion of such counsel, all such conditions precedent to be performed by
		the Company or the applicable Guarantor (as the case may be), if any, provided
		for in this Indenture or any Security Document relating to the proposed action
		have been complied with.
	 

	 
		Section 11.05. Statements Required in Certificate or
		Opinion.
	 

	 
		Each certificate or opinion with respect to
		compliance with a condition or covenant provided for in this Indenture or any
		Security Document, other than the Officers’ Certificate required by
		Section 4.06, shall include:
	 

	 
		(1) a statement that the Person making such
		certificate or opinion has read such covenant or condition;
	 

	 
		(2) a brief statement as to the nature and
		scope of the examination or investigation upon which the statements or opinions
		contained in such certificate or opinion are based;
	 

	 
		(3) a statement that, in the opinion of such
		Person, he has made such examination or investigation as is reasonably
		necessary to enable him to express an 
	 

	 
		 
	 

	 
		 
	 

	 
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		informed opinion as to whether or not such
		covenant or condition has been complied with; and
	 

	 
		(4) a statement as to whether or not, in the
		opinion of each such Person, such condition or covenant has been complied
		with.
	 

	 
		Section 11.06. Rules by Trustee, Paying Agent,
		Registrar.
	 

	 
		The Trustee may make reasonable rules in
		accordance with the Trustee’s customary practices for action by or at a
		meeting of Holders. The Paying Agent or Registrar may make reasonable rules for
		its functions.
	 

	 
		Section 11.07. Legal Holidays.
	 

	 
		A “Legal Holiday” used with
		respect to a particular place of payment is a Saturday, a Sunday or a day on
		which banking institutions in New York, New York or at such place of payment
		are not required to be open. If a payment date is a Legal Holiday at such
		place, payment may be made at such place on the next succeeding day that is not
		a Legal Holiday, and no interest or Additional Interest, if applicable, shall
		accrue for the intervening period.
	 

	 
		Section 11.08. Governing Law.
	 

	 
		(a) THIS INDENTURE, THE NOTES AND THE
		GUARANTEES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
		THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN THE
		STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS. EACH OF
		THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE
		STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO
		THIS INDENTURE.
	 

	 
		(b) EACH OF THE PARTIES HERETO IRREVOCABLY
		CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF SUPREME COURT OF NEW YORK, NEW
		YORK COUNTY AND THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF
		NEW YORK, NEW YORK COUNTY AND WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING
		WITH RESPECT TO THIS INDENTURE.
	 

	 
		Section 11.09. No Adverse Interpretation of Other
		Agreements.
	 

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

	 
		Section 11.10. No Recourse Against Others.
	 

	 
		An Affiliate, past, present or future
		director, officer, employee, incorporator or stockholder of the Company or any
		Guarantor, as such, shall not have any liability for any obligations of the
		Company or the Guarantors under the Notes, the Guarantees, or this Indenture or
		for any claim based on, in respect of or by reason of such obligations or their
		creation. Each 
	 

	 
		 
	 

	 
		 
	 

	 
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		Holder, by accepting a Note, waives and
		releases all such liability. Such waiver and release are part of the
		consideration for the issuance of the Notes. The waiver may not be effective to
		waive liability under the federal securities laws.
	 

	 
		Section 11.11. Successors.
	 

	 
		All agreements of the Company and the
		Guarantors in this Indenture, the Notes, and the Guarantees shall bind their
		successors. All agreements of the Trustee and the Collateral Agent in this
		Indenture shall bind their respective successors.
	 

	 
		Section 11.12. Duplicate
		Originals.
	 

	 
		All parties may sign any number of copies of
		this Indenture. Each signed copy shall be an original, but all of them together
		shall represent the same agreement.
	 

	 
		Section 11.13. Severability.
	 

	 
		In case any one or more of the provisions in
		this Indenture, the Notes or in the Guarantees shall be held invalid, illegal
		or unenforceable, in any respect for any reason, the validity, legality and
		enforceability of any such provision in every other respect and of the
		remaining provisions shall not in any way be affected or impaired thereby, it
		being intended that all of the provisions hereof shall be enforceable to the
		full extent permitted by law.
	 

	 
		Section 11.14. Waiver of Jury Trial.
	 

	 
		EACH OF THE COMPANY AND THE GUARANTORS
		HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO
		TRIAL BY JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF OR IN CONNECTION WITH
		THIS INDENTURE, THE NOTES, THE GUARANTEES, THE COLLATERAL AGREEMENTS OR THE
		TRANSACTIONS CONTEMPLATED BY THIS INDENTURE.
	 

	 
		ARTICLE TWELVE
	 

	 
		SECURITY INTERESTS
	 

	 
		Section 12.01. Security Interest.
	 

	 
		(a) To secure the due and punctual payment
		of the principal of, premium, if any, and interest and Additional Interest, if
		any, on the Notes and amounts due hereunder and under the Guarantees when and
		as the same shall be due and payable, whether on an Interest Payment Date, by
		acceleration, purchase, repurchase, redemption or otherwise, and interest on
		the overdue principal of, premium, if any, and interest and Additional Interest
		(to the extent permitted by law), if any, on the Notes and the performance of
		all other Obligations of the Company and the Guarantors to the Holders, the
		Collateral Agent or the Trustee under this Indenture, the Security Documents,
		the Guarantees and the Notes, the Company and the Guarantors hereby covenant to
		cause the Security Documents to be executed and delivered concurrently with
		this Indenture. 
	 

	 
		 
	 

	 
		 
	 

	 
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		(b) The Trustee and each Holder, by its
		acceptance of a Note, consents and agrees to the terms of each Security
		Document and the Intercreditor Agreement, as the same may be in effect or may
		be amended from time to time in accordance with their respective terms, and
		authorizes and directs the Collateral Agent to enter into the Security
		Documents and the Intercreditor Agreement and to perform its obligations and
		exercise its rights thereunder in accordance therewith. The Company shall, and
		shall cause each of its Domestic Restricted Subsidiaries to, do or cause to be
		done all such actions and things as may be necessary or proper, or as may be
		required by the provisions of the Security Documents. The Company shall, and
		shall cause each of its Domestic Restricted Subsidiaries to, take any and all
		actions required or as may be requested by the Collateral Agent to cause the
		Security Documents to create and maintain, as security for the Obligations
		contained in this Indenture, the Notes, the Security Documents and the
		Guarantees valid and enforceable, perfected security interests in and on all
		the Collateral, in favor of the Collateral Agent, superior to and prior to the
		rights of all third Persons (subject to Permitted Prior Liens), and subject to
		no other Liens, in each case, except as expressly provided herein, therein, or
		in the Intercreditor Agreement.
	 

	 
		Section 12.02. Intercreditor Agreement.
	 

	 
		This Article XII of this Indenture and the
		provisions of each other Security Document is subject to the terms, limitations
		and conditions set forth in the Intercreditor Agreement.
	 

	 
		Section 12.03. Recording and Opinions.
	 

	 
		(a) The Company shall furnish to the Trustee
		and the Collateral Agent (if other than the Trustee), such Opinions of Counsel
		as required by, at such times as required by, TIA Section 314(b).
	 

	 
		(b) Annually, within thirty (30) days after
		April 1 of each year and beginning with the year 2008, the Company shall
		furnish to the Trustee and the Collateral Agent (if other than the Trustee), an
		Opinion of Counsel, dated as of such date, either (i) stating that: (A) in the
		opinion of such counsel, action has been taken with respect to the registering,
		recording, filing, re-recording, re-registering and refiling of this Indenture,
		and all supplemental indentures, financing statements, continuation statements
		and other instruments and documents, and delivery of all certificates, as are
		then necessary to perfect or continue the perfection of the security interests
		created by the Security Documents and reciting the details of such action or
		referring to prior Opinions of Counsel in which such details are given; and (B)
		based on relevant laws as in effect on the date of such Opinion of Counsel, all
		financing statements, continuation statements and other documents have been
		executed and filed that are necessary as of such date and during the succeeding
		twenty-four (24) months fully to maintain, perfect or continue the perfection
		of such security interests under the Security Documents with respect to the
		Collateral and to maintain, preserve, and protect the rights of the Holders,
		the Collateral Agent and the Trustee hereunder and under the Security Documents
		or (ii) stating that, in the opinion of such counsel, no such action is then
		necessary to perfect or continue the perfection of such security
		interests.
	 

	 
		 
	 

	 
		 
	 

	 
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		Section 12.04. Release of
		Collateral.
	 

	 
		(a) Subject to the Intercreditor Agreement,
		the Collateral Agent shall not at any time release Collateral from the security
		interests created by the Security Documents unless such release is in
		accordance with the provisions of this Indenture, the Intercreditor Agreement
		and the applicable Security Documents.
	 

	 
		(b) Subject to the Intercreditor Agreement,
		at any time when a Default or an Event of Default shall have occurred and be
		continuing, no release of Collateral pursuant to the provisions of this
		Indenture and the Security Documents shall be effective as against the
		Holders.
	 

	 
		(c) The release of any Collateral from the
		terms of the Security Documents shall not be deemed to impair the security
		under this Indenture in contravention of the provisions hereof if and to the
		extent the Collateral is released pursuant to this Indenture and the Security
		Documents or pursuant to the Intercreditor Agreement. To the extent applicable,
		the Company shall cause TIA Section 314(d) relating to the release of property
		from the security interests created by this Indenture and the Security
		Documents to be complied with. Any certificate or opinion required by TIA
		Section 314(d) may be made by an Officer of the Company, except in cases where
		TIA Section 314(d) requires that such certificate or opinion be made by an
		independent Person, which Person shall be an independent engineer, appraiser or
		other expert selected or approved by the Trustee in the exercise of reasonable
		care. A Person is “independent” if such Person (a) is in fact
		independent, (b) does not have any direct financial interest or any material
		indirect financial interest in the Company or in any Affiliate of the Company
		and (c) is not an officer, employee, promoter, underwriter, trustee, partner or
		director or person performing similar functions to any of the foregoing for the
		Company. The Trustee and the Collateral Agent shall be entitled to receive and
		rely upon a certificate provided by any such Person confirming that such Person
		is independent within the foregoing definition.
	 

	 
		(d) Notwithstanding any provision to the
		contrary herein, Collateral comprised of accounts receivable, inventory or
		(prior to the occurrence and during the continuance of an Event of Default) the
		proceeds of the foregoing shall be subject to release upon sales of such
		inventory and collection of the proceeds of such accounts receivable in the
		ordinary course of business. If requested in writing by the Company, the
		Trustee shall instruct the Collateral Agent to execute and deliver such
		documents, instruments or statements and to take such other action as the
		Company may request to evidence or confirm that the Collateral falling under
		this Section 12.04
		has been released from the Liens of each of the Security Documents. The
		Collateral Agent shall execute and deliver such documents, instruments and
		statements and shall take all such actions promptly upon receipt of such
		instructions from the Trustee.
	 

	 
		Section 12.05. Specified Releases of Collateral.
	 

	 
		(a) The Company and the Guarantors shall be
		entitled to obtain a full release of items of Collateral (the
		“Released Interests”) from the security interests created by this
		Indenture, the Notes and the Security Documents upon compliance with the
		conditions precedent set forth in Section 4.16,
		8.01 or 8.02 of this
		Indenture, the applicable Security Documents and to the extent applicable, the
		Intercreditor Agreement. So long as no Default or Event of Default exists, upon
		the request of the Company or any Guarantor and the furnishing of each of the
		items required by 
	 

	 
		 
	 

	 
		 
	 

	 
		-94-
	 

	 
		 
	 

	 
	 

	 

	 
		Section 12.05(b), the Collateral Agent upon the direction of the Trustee
		(or the Trustee if acting as Collateral Agent) shall forthwith take such action
		(at the request of and the expense of the Company or such Guarantor, without
		recourse or warranty and without any representation of any kind), including the
		delivery of appropriate UCC-3 termination statements, to release and reconvey
		to the Company or such Guarantor all of the Released Interests, and shall
		deliver such Released Interests in its possession to the Company or such
		Guarantor.
	 

	 
		(b) So long as no Default or Event of
		Default exists, the Company and the Guarantors shall be entitled to obtain a
		release of, and the Collateral Agent shall release, the Released Interests upon
		compliance with the condition precedent that the Company or such Guarantor
		shall have satisfied all applicable conditions precedent to any such release
		set forth in this Indenture, the applicable Security Documents and to the
		extent applicable, the Intercreditor Agreement as set forth in an
		Officers’ Certificate and an Opinion of Counsel delivered to the Trustee
		and the Collateral Agent and shall have delivered to the Trustee and the
		Collateral Agent the following, as applicable:
	 

	 
		(i) in connection with release of Collateral
		resulting from an Asset Sale or other sale, lease, conveyance or other
		disposition under Section
		4.16, notice from the Company
		requesting the release of Released Interests describing the proposed Released
		Interests; and
	 

	 
		(ii) in connection with release of
		Collateral resulting from an Asset Sale or other sale, lease, conveyance or
		other disposition under Section
		4.16, an Officers’ Certificate of
		the Company stating that (A) such Asset Sale or other disposition complies with
		the terms and conditions of this Indenture; (B) there is no Default or Event of
		Default in effect or continuing on the date thereof, or the date of such Asset
		Sale; (C) the release of the Collateral shall not result in a Default or Event
		of Default under this Indenture; and (D) all conditions precedent in this
		Indenture relating to the release in question have been or shall be complied
		with.
	 

	 
		Section 12.06. Release upon Satisfaction or Defeasance of all
		Outstanding Obligations.
	 

	 
		The Liens on, and pledges of, all Collateral
		will also be terminated and released upon (i) payment in full of the principal
		of, premium, if any, on, accrued and unpaid interest and Additional Interest,
		if any, on the Notes and all other Obligations hereunder, the Guarantees and
		the Security Documents that are due and payable at or prior to the time such
		principal, premium, if any, accrued and unpaid interest and Additional
		Interest, if any, are paid, (ii) a satisfaction and discharge of this Indenture
		as described below under Section
		8.02 and (iii) the occurrence of a
		legal defeasance or covenant defeasance as described below under
		Section 8.01.
	 

	 
		Section 12.07. Form and Sufficiency of Release.
	 

	 
		In the event that the Company or any
		Guarantor has sold, exchanged, or otherwise disposed of or proposes to sell,
		exchange or otherwise dispose of any portion of the Collateral that may be
		sold, exchanged or otherwise disposed of by the Company or such Guarantor, and
		the Company or such Guarantor requests the Trustee or the Collateral Agent to
		furnish a written 
	 

	 
		 
	 

	 
		 
	 

	 
		-95-
	 

	 
		 
	 

	 
	 

	 

	 
		disclaimer, release or quit-claim of any
		interest in such property under this Indenture and the Security Documents, the
		Collateral Agent and the Trustee, as applicable, shall execute, acknowledge and
		deliver to the Company or such Guarantor (in proper form) such an instrument
		promptly after satisfaction of the conditions set forth herein for delivery of
		any such release. Notwithstanding the preceding sentence, all purchasers and
		grantees of any property or rights purporting to be released herefrom shall be
		entitled to rely upon any release executed by the Collateral Agent hereunder as
		sufficient for the purpose of this Indenture and as constituting a good and
		valid release of the property therein described from the Lien of this Indenture
		or of the Security Documents.
	 

	 
		Section 12.08. Purchaser Protected.
	 

	 
		No purchaser or grantee of any property or
		rights purporting to be released herefrom shall be bound to ascertain the
		authority of the Trustee or the Collateral Agent to execute the release or to
		inquire as to the existence of any conditions herein prescribed for the
		exercise of such authority; nor shall any purchaser or grantee of any property
		or rights permitted by this Indenture to be sold or otherwise disposed of by
		the Company be under any obligation to ascertain or inquire into the authority
		of the Company to make such sale or other disposition.
	 

	 
		Section 12.09. Authorization of Actions to Be Taken by the Collateral
		Agent Under the Security Documents.
	 

	 
		Subject to the provisions of the applicable
		Security Documents and the Intercreditor Agreement, (a) the Collateral Agent
		shall execute and deliver the Security Documents and the Intercreditor
		Agreement and act in accordance with the terms thereof, (b) the Collateral
		Agent may, in its sole discretion and without the consent of the Trustee or the
		Holders, take all actions it deems necessary or appropriate in order to (i)
		enforce any of the terms of the Security Documents and (ii) collect and receive
		any and all amounts payable in respect of the Obligations of the Company and
		the Guarantors hereunder and under the Notes, the Guarantees, the Security
		Documents and the Intercreditor Agreement and (c) the Collateral Agent shall
		have power to institute and to maintain such suits and proceedings as it may
		deem expedient to prevent any impairment of the Collateral by any act that may
		be unlawful or in violation of the Security Documents or this Indenture, and
		suits and proceedings as the Collateral Agent may deem expedient to preserve or
		protect its interests and the interests of the Trustee and the Holders in the
		Collateral (including the power to institute and maintain suits or proceedings
		to restrain the enforcement of or compliance with any legislative or other
		governmental enactment, rule or order that may be unconstitutional or otherwise
		invalid if the enforcement of, or compliance with, such enactment, rule or
		order would impair the security interest thereunder or be prejudicial to the
		interests of the Holders, the Trustee or the Collateral Agent). Notwithstanding
		the foregoing, the Collateral Agent may, at the expense of the Company, request
		the direction of the Holders with respect to any such actions and upon receipt
		of the written consent of the Holders of at least a majority in aggregate
		principal amount of the outstanding Notes, shall take such actions;
		provided that all actions so taken shall, at all times, be in
		conformity with the requirements of the Intercreditor Agreement.
	 

	 
		 
	 

	 
		 
	 

	 
		-96-
	 

	 
		 
	 

	 
	 

	 

	 
		Section 12.10. Authorization of Receipt of Funds by the Collateral
		Agent Under the Security Documents.
	 

	 
		The Collateral Agent is authorized to
		receive any funds for the benefit of itself, the Trustee and the Holders
		distributed under the Security Documents and the Intercreditor Agreement to the
		extent permitted under the Intercreditor Agreement, for turnover to the Trustee
		to make further distributions of such funds to itself, the Collateral Agent and
		the Holders in accordance with the provisions of Section 6.11 and
		the other provisions of this Indenture.
	 

	 
		[Remainder of page intentionally left
		blank]
	 

	 
		 
	 

	 
		 
	 

	 
		-97-
	 

	 
		 
	 

	 
	 

	 

	 
		SIGNATURES
	 

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

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  ATLANTIC EXPRESS TRANSPORTATION
				  CORP.
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  
 
 By: 
				

			 	
				
				  /s/  Domenic Gatto
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name: 

				  Title:
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   180
				  JAMAICA CORP.
				

				
				  AMBOY BUS CO., INC.
				

				
				  ATLANTIC ESCORTS INC.
				

				
				  ATLANTIC EXPRESS COACHWAYS,
				  INC.
				

				
				  ATLANTIC EXPRESS NEW ENGLAND,
				  INC.
				

				
				  ATLANTIC EXPRESS OF CALIFORNIA,
				  INC.
				

				
				  ATLANTIC EXPRESS OF ILLINOIS,
				  INC.
				

				
				  ATLANTIC EXPRESS OF L.A. INC.

				

				
				  ATLANTIC EXPRESS OF MISSOURI
				  INC.
				

				
				  ATLANTIC EXPRESS OF NEW JERSEY,
				  INC.
				

				
				  ATLANTIC EXPRESS OF PENNSYLVANIA,
				  INC.
				

				
				  ATLANTIC PARATRANS OF NYC,
				  INC.
				

				
				  ATLANTIC PARATRANS, INC.
				

				
				  ATLANTIC QUEENS BUS CORP.
				

				
				  ATLANTIC TRANSIT, CORP.
				

				
				  ATLANTIC-HUDSON, INC.
				

				
				  BLOCK 7932, INC.
				

				
				  BROOKFIELD TRANSIT INC.
				

				
				  COURTESY BUS CO., INC.
				

				
				  FIORE BUS SERVICE, INC.
				

				
				  GROOM TRANSPORTATION, INC.
				

				
				  G.V.D. LEASING CO., INC.
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  
 
 By: 
				

			 	
				
				  /s/  Domenic Gatto
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name: 

				  Title:
				

			 

 

	 
		 
	 

	 
		Indenture
	 

	 
		 
	 

	 
		 
	 

	 
	 

	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

				
				  JAMES MCCARTY LIMO SERVICE,
				  INC.
				

				
				  JERSEY BUSINESS LAND CO.,
				  INC.
				

				
				  K. CORR, INC.
				

				
				  MERIT TRANSPORTATION CORP.
				

				
				  METRO AFFILIATES, INC.
				

				
				  METROPOLITAN ESCORT SERVICE,
				  INC.
				

				
				  MIDWAY LEASING INC.
				

				
				  R. FIORE BUS SERVICE, INC.
				

				
				  RAYBERN BUS SERVICE, INC.
				

				
				  RAYBERN CAPITAL CORP.
				

				
				  RAYBERN EQUITY CORP.
				

				
				  ROBERT L. MCCARTHY & SON,
				  INC.
				

				
				  STATEN ISLAND BUS, INC.
				

				
				  TEMPORARY TRANSIT SERVICE,
				  INC.
				

				
				  ATLANTIC EXPRESS OF UPSTATE NEW
				  YORK, INC.
				

				
				  TRANSCOMM, INC.
				

				
				  WINSALE, INC.
				

				
				   
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  
 
 By: 
				

			 	
				
				  /s/  Domenic Gatto
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name: 

				  Title:
				

			 

 

	 
		 
	 

	 
		Indenture
	 

	 
		 
	 

	 
		 
	 

	 
	 

	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  THE BANK OF NEW YORK, as
				  Trustee
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  
 
 By: 
				

			 	
				
				  /s/  Julie Salovitch-Miller
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				  
 THE BANK OF NEW YORK, as
				  Collateral Agent
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  
 
 By: 
				

			 	
				
				  /s/  Julie Salovitch-Miller
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 

 

	 
		 
	 

	 
		Indenture
	 

	 
		 
	 

	 
		 
	 

   
	 
		EXHIBIT A
	 

	 
		[FORM OF INITIAL NOTE]
	 

	 
		THIS SECURITY HAS NOT BEEN REGISTERED UNDER
		THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY
		STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION
		HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR
		OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH
		TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION.
	 

	 
		THIS SECURITY WAS ISSUED WITH ORIGINAL ISSUE
		DISCOUNT UNDER SECTION 1272, 1273 AND 1275 OF THE INTERNAL REVENUE CODE OF
		1986, AS AMENDED. YOU MAY CONTACT THE CHIEF FINANCIAL OFFICER OF THE COMPANY AT
		ATLANTIC EXPRESS TRANSPORTATION CORP., 7 NORTH STREET, STATEN ISLAND, NY
		10302-1205, WHO WILL PROVIDE YOU WITH THE ISSUE PRICE, THE AMOUNT OF ORIGINAL
		ISSUE DISCOUNT, THE ISSUE DATE AND THE YIELD TO MATURITY OF THIS
		SECURITY.
	 

	 
		THE HOLDER OF THIS SECURITY BY ITS
		ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL
		BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT), (B) IT IS A
		NON-U.S. PURCHASER AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION
		WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, OR (C) IT IS AN
		INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF
		SUBPARAGRAPH (a)(1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT, AND
		(2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE
		DATE (THE “RESALE RESTRICTION TERMINATION DATE”) WHICH IS TWO YEARS
		AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH
		THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR
		ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY OR ANY OF ITS
		SUBSIDIARIES, (B) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO
		RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED
		INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT
		PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
		BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON
		RULE 144A, (C) PURSUANT TO OFFERS AND SALES TO NON-U.S. PURCHASERS THAT OCCUR
		OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE
		SECURITIES ACT, (D) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN
		THE MEANING OF SUBPARAGRAPH (a)(1), (2), (3) OR (7) OF RULE 501 UNDER THE
		SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE
		ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES
		AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY
		DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, (E) PURSUANT TO A REGISTRATION
		STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER 
	 

	 
		 
	 

	 
		 
	 

	 
		A-1
	 

	 
		 
	 

	 
	 

	 

	 
		THE SECURITIES ACT, OR (F) PURSUANT TO
		ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
		SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S, OR
		TRANSFER AGENT’S, AS APPLICABLE, RIGHT PRIOR TO ANY SUCH OFFER, SALE OR
		TRANSFER PURSUANT TO CLAUSES (D), (E), OR (F) TO REQUIRE THE DELIVERY OF AN
		OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH
		OF THEM, AND IN EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE
		FORM APPEARING ON THE OTHER SIDE OF THIS SECURITY IS COMPLETED AND DELIVERED BY
		THE TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF
		THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.
	 

	 
		 
	 

	 
		 
	 

	 
		A-2
	 

	 
		 
	 

	 
	 

	 

	 
		ATLANTIC EXPRESS TRANSPORTATION
		CORP.
	 

	 
		SENIOR SECURED FLOATING RATE NOTES DUE
		2012
	 

	 
		CUSIP No. 
	 

	 
			
				
				  No.
				

			 	
				
				   
				

			 	
				
				  $
				

			 

 

	 
		Atlantic Express Transportation Corp., a New
		York corporation (the “Company,”
		which term includes any successor entity), for value received promises to pay
		to ___________________ or registered assigns the principal sum of
		_______________ Dollars (or such principal amount as may be set forth in the
		records of the Trustee hereinafter referred to in accordance with the
		Indenture) on April 15, 2012, and to pay interest thereon as hereinafter set
		forth.
	 

	 
		Interest Rate: Interest on this Note will
		accrue on a floating rate calculated in accordance with Section 1 of
		this Note.
	 

	 
		Interest Payment Dates: Interest will be
		payable semi-annually in cash in arrears on April 15 and October 15 of each
		year, beginning on October 15, 2007.
	 

	 
		Record Dates: April 1 and October 1.
	 

	 
		Reference is made to the further provisions
		of this Note contained on the reverse side of this Note, which will for all
		purposes have the same effect as if set forth at this place.
	 

	 
		 
	 

	 
		 
	 

	 
		A-3
	 

	 
		 
	 

	 
	 

	 

	 
		IN WITNESS WHEREOF, the Company has caused
		this Note to be signed manually or by facsimile by its duly authorized officer.
		
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  ATLANTIC EXPRESS TRANSPORTATION
				  CORP.
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  
 By: 
				

			 	
				
				  /s/  Domenic Gatto
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:
				

				
				  Title:
				

			 

 

	 
		Dated: May 15, 2007
	 

	 
		 
	 

	 
		 
	 

	 
		A-4
	 

	 
		 
	 

	 
	 

	 

	 
		TRUSTEE CERTIFICATE OF AUTHENTICATION

	 

	 
		This is one of the Senior Secured Floating
		Rate Notes due 2012 referred to in the within-mentioned Indenture.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  THE BANK OF NEW YORK, as
				  Trustee
				

			 
	
				
				  
 Dated: May 15, 2007
				

			 	
				
				   
				

			 	
				
				  By: 
				

			 	
				
				  /s/  Julie Salovitch-Miller
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Authorized Signatory
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		A-5
	 

	 
		 
	 

	 
	 

	 

	 
		(REVERSE OF SECURITY)
	 

	 
		Senior Secured Floating Rate Note due
		2012
	 

	 
			 	
				
				  1. Interest. 
				

			 

 

	 
		(a) Generally.
		Atlantic Express Transportation Corp., a New York corporation (the
		“Company”), promises to pay interest on the principal
		amount of this Note at the rate per annum shown above. Interest on the Notes
		will accrue from the most recent date on which interest has been paid or, if no
		interest has been paid, from and including the date of issuance (each such
		period, an “Interest Accrual
		Period”). The Company will pay
		interest semi-annually in arrears on each Interest Payment Date, commencing
		October 15, 2007. Interest will be computed on the basis of a 360-day year
		comprised of twelve 30-day months. The Company will pay interest on overdue
		principal of this Note at 1% per annum in excess of the otherwise applicable
		interest rate and the Company will pay interest on overdue installments of
		interest at such higher rate to the extent lawful. Additional Interest may
		accrue on the Notes in certain circumstances pursuant to the Registration
		Rights Agreement.
	 

	 
		(b) Interest Rate.
		The Company will appoint the Trustee or another financial institution (the
		“Calculation Agent”) to calculate the interest rate for the Notes.
		“LIBOR” will be determined by the Calculation Agent in
		accordance with the following provisions:
	 

	 
		(i) LIBOR for any Interest Accrual Period
		will be equal to the rate, as determined by the Calculation Agent, for
		six-month U.S. dollar deposits which appears on the Telerate Page 3750 as of
		11:00 a.m., London time, on the applicable LIBOR Determination Date, as defined
		below, as reported by Bloomberg Financial Markets Commodities News.
		“LIBOR Determination
		Date” means, with respect to any
		Interest Accrual Period, the second London Banking Day prior to the first day
		of such Interest Accrual Period. “London Banking Day” means any day on which commercial banks are open
		for business, including dealings in foreign exchange and foreign currency
		deposits, in London.
	 

	 
		(ii) If, on any LIBOR Determination Date,
		such rate does not appear on the Telerate Page 3750, the Calculation Agent will
		determine the arithmetic mean of the offered quotations of the Reference Banks,
		as defined below, to prime banks in the London interbank market for U.S. dollar
		deposits for the relevant term by reference to requests for quotations as of
		approximately 11:00 a.m., London time, on such LIBOR Determination Date made by
		the Calculation Agent to the Reference Banks. If, on the LIBOR Determination
		Date, at least two of the Reference Banks provide such quotations, LIBOR will
		equal such arithmetic mean. If, on any LIBOR Determination Date, only one or
		none of the Reference Banks provide such quotations, LIBOR will be deemed to be
		the arithmetic mean of the offered quotations that the leading banks in New
		York City selected by the Calculation Agent, after consultation with the
		Company, are quoting on 
	 

	 
		 
	 

	 
		 
	 

	 
		A-6
	 

	 
		 
	 

	 
	 

	 

	 
		the relevant LIBOR Determination Date for
		U.S. dollar deposits for the relevant term, to the principal London offices of
		leading banks in the London interbank market.
	 

	 
		(iii) If the Calculation Agent is required
		but is unable to determine a rate in accordance with at least one of the
		procedures provided above, LIBOR with respect to such Interest Accrual Period
		will be LIBOR as calculated on the immediately preceding LIBOR Determination
		Date.
	 

	 
		For the purpose of clause (ii)
		above, all percentages resulting from such calculations will be rounded, if
		necessary, to the nearest one thirty-second of a percentage point and, for
		purposes of clause (iii) above, all percentages resulting from such calculations
		will be rounded, if necessary, to the nearest one hundred-thousandth of a
		percentage point.
	 

	 
		(c) Certain Definitions. As used in this Section 1, the
		following terms shall have the following meanings:
	 

	 
		(i) “Reference Banks” means four major banks in the London interbank
		market selected by the Calculation Agent.
	 

	 
		(ii) “Telerate Page 3750” means the display page currently so designated on
		the Moneyline Telerate Service or such other page as may replace such page on
		such service for the purpose of displaying comparable rates.
	 

	 
		(d) [[FOR REGULATION S TEMPORARY GLOBAL
		NOTES INSERT: Until this Regulation S Temporary Global Note is exchanged for
		one or more Regulation S Permanent Global Notes, the Holder hereof shall not be
		entitled to receive payments of interest hereon; until so exchanged in full,
		this Regulation S Temporary Global Note shall in all other respects be entitled
		to the same benefits as other Notes under the Indenture.]
	 

	 
		2. Method of Payment. The Company shall pay interest on the Notes (except
		defaulted interest) to the Persons who are the registered Holders at the close
		of business on the Record Date immediately preceding the Interest Payment Date
		even if the Notes are cancelled on registration of transfer or registration of
		exchange after such Record Date, and on or before such Interest Payment Date.
		Holders must surrender Notes to a Paying Agent to collect principal payments.
		The Company shall pay principal and interest in money of the United States that
		at the time of payment is legal tender for payment of public and private debts
		(“U.S. Legal Tender”). However, the Company may pay principal and
		interest by check payable in such U.S. Legal Tender. The Company may deliver
		any such interest payment to the Paying Agent or to a Holder at the
		Holder’s registered address, and if a Holder has given wire transfer
		instructions to the Company, the Company will make payments on the Notes in
		accordance with those instructions.
	 

	 
		3. Paying Agent and Registrar. Initially, The Bank of New York (the
		“Trustee”) will act as Paying Agent and Registrar. The
		Company may change any Paying Agent, Registrar or co-Registrar without notice
		to the Holders. Subject to certain exceptions, the Company or any of its
		Subsidiaries may act in any such capacity.
	 

	 
		 
	 

	 
		 
	 

	 
		A-7
	 

	 
		 
	 

	 
	 

	 

	 
		4. Indenture. The
		Notes and the Guarantees were issued under an Indenture, dated as of May 15,
		2007 (the “Indenture”), among the Company, the Guarantors named therein
		and the Trustee. Capitalized terms herein are used as defined in the Indenture
		unless otherwise defined herein. The
		terms of the Notes include those stated
		in the Indenture and those made part of the Indenture by reference to the Trust
		Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) (the
		“TIA”), as in effect on the date of the Indenture until
		such time as the Indenture is qualified under the TIA, and thereafter as in
		effect on the date on which the Indenture is qualified under the TIA.
		Notwithstanding anything to the contrary herein, the Notes are subject to all
		such terms, and Holders of Notes are referred to the Indenture and the TIA for
		a statement of such terms. The Notes are senior secured obligations of the
		Company. The Notes are secured by the Collateral as more fully described in the
		Security Documents. Each Holder, by accepting a Note, agrees to be bound by all
		of the terms and provisions of the Indenture, as the same may be amended from
		time to time.
	 

	 
		5. Redemption.
		
	 

	 
		(a) Optional Redemption on or After May 15,
		2008. The Notes will be redeemable at
		the option of the Company, in whole or in part at any time or from time to
		time, on and after May 15, 2008, at the following Redemption Prices (expressed
		as percentages of the principal amount thereof) if redeemed during the periods
		beginning on the dates indicated below, plus, in each case, accrued and unpaid
		interest and Additional Interest, if any, thereon to the Redemption
		Date:
	 

	 
		 
	 

	 
			
				
				  Period
				

			 	
				
				   
				

			 	
				
				  Percentage
				

			 
	
				
				  On or after May 15, 2008
				

			 	
				
				   
				

			 	
				
				  103.000%
				

			 
	
				
				  On or after May 15, 2009
				

			 	
				
				   
				

			 	
				
				  102.000%
				

			 
	
				
				  On or after May 15, 2010
				

			 	
				
				   
				

			 	
				
				  101.000%
				

			 
	
				
				  On or after May 15, 2011
				

			 	
				
				   
				

			 	
				
				  100.000%
				

			 

 

	 
		Optional Redemption upon Equity
		Offerings. At any time, or from time to
		time, prior to May 15, 2008, the Company may, at its option, on any one or more
		occasions use an amount not to exceed the net cash proceeds of one or more
		Equity Offerings to redeem up to 35% of the aggregate principal amount of the
		Notes (which includes Additional Notes, if any) issued under the Indenture at a
		redemption price of 100% of the aggregate principal amount thereof, plus a
		premium equal to the rate per annum at which the Notes bear interest on the
		date on which the notice of redemption is given, plus accrued and unpaid
		interest and Additional Interest, if any, thereon, to the date of redemption;
		provided that:
	 

	 
		(1) Notes in an aggregate principal amount
		at least equal to 65% of the sum of (x) the aggregate principal amount of Notes
		issued under the Indenture in the Offering and (y) the aggregate principal
		amount of Additional Notes issued under the Indenture after the Issue date
		remain outstanding immediately after any such redemption; and
	 

	 
		(2) the Company makes such redemption not
		more than 120 days after the consummation of any such Equity Offering.
	 

	 
		 
	 

	 
		 
	 

	 
		A-8
	 

	 
		 
	 

	 
	 

	 

	 
		6. Notice of Redemption. Notice of redemption will be mailed by first-class
		mail at least 15 days but not more than 60 days before the Redemption Date to
		each Holder of Notes to be redeemed at such Holder’s registered address.
		If fewer than all of the Notes are to be redeemed, at any time, selection of
		Notes for redemption will be made by the Trustee in compliance with the
		requirements of the principal national securities exchange, if any, on which
		the Notes are listed, or, if the Notes are not so listed, on a pro rata basis
		or by such method as the Trustee deems to be fair and appropriate;
		provided that no partial redemption will reduce the principal
		amount of a Note not redeemed to a denomination of less than $1,000; and
		provided, further, that
		any such partial redemption made with the proceeds of an Equity Offering will
		be made only on a pro rata basis or on as nearly a pro rata basis as
		practicable (subject to the procedures of the DTC or any other depository).
		Notes in denominations of $1,000 or more may be redeemed in part.
	 

	 
		Except as set forth in the Indenture, if
		monies for the redemption of the Notes called for redemption shall have been
		deposited with the Paying Agent for redemption on such redemption date, then,
		unless the Company defaults in the payment of such redemption price plus
		accrued interest and Additional Interest, if any, the Notes called for
		redemption will cease to bear interest from and after such redemption date, and
		the only remaining right of the Holders of such Notes will be to receive
		payment of the redemption price plus accrued interest and Additional Interest
		(which, for such purpose, shall be payable in cash), if any, as of the
		redemption date upon surrender to the Paying Agent of the Notes
		redeemed.
	 

	 
		7. Offers to Purchase. Sections 4.15 and 4.16 of the Indenture provide that
		upon the occurrence of a Change of Control and after certain Asset Sales, and
		subject to further limitations contained therein, the Company will make an
		offer to purchase certain amounts of the Notes in accordance with the
		procedures set forth in the Indenture. 
	 

	 
		8. Registration Rights. Pursuant to the Registration Rights Agreement among
		the Company, the Guarantors and the Initial Purchaser, the Company will be
		obligated to consummate an exchange offer. Upon such exchange offering, the
		Holders of Notes shall have the right, subject to compliance with securities
		laws, to exchange such Notes for Senior Secured Floating Rate Notes due 2012,
		which have been registered under the Securities Act (the “Exchange Notes”), in like principal amount and having terms
		identical in all material respects to the Initial Notes. The Holders of the
		Initial Notes shall be entitled to receive certain additional interest payments
		in the event such exchange offer is not consummated and upon certain other
		conditions, all pursuant to and in accordance with the terms of the
		Registration Rights Agreement.
	 

	 
		9. Denominations; Transfer; Exchange. The Notes are in registered form, without coupons, in
		denominations of $1,000 and integral multiples thereof. A Holder shall register
		the transfer of or exchange of Notes in accordance with the Indenture. The
		Registrar and the Trustee may require a Holder, among other things, to furnish
		appropriate endorsements and transfer documents and to pay any taxes, fees or
		similar governmental charges payable in connection therewith as permitted by
		the Indenture. The Registrar need not register the transfer of or exchange of
		any Notes or portions thereof selected for redemption.
	 

	 
		 
	 

	 
		 
	 

	 
		A-9
	 

	 
		 
	 

	 
	 

	 

	 
		10. Persons Deemed Owners. The registered Holder of a Note shall be treated as
		the owner of it for all purposes, subject to the provisions of the
		Indenture.
	 

	 
		11. Unclaimed Money.
		If money for the payment of principal or interest remains unclaimed for two
		years, the Trustee and the Paying Agent may pay the money without interest
		thereon back to the Company. After that, all liability of the Trustee and such
		Paying Agent with respect to such money shall cease.
	 

	 
		12. Discharge Prior to Redemption or
		Maturity. If the Company at any time
		deposits with the Trustee U.S. Legal Tender or U.S. Government Obligations
		sufficient to pay the principal of and interest on the Notes to redemption or
		maturity and complies with the other provisions of the Indenture relating
		thereto, the Company will be discharged from certain provisions of the
		Indenture and the Notes (including certain covenants, but excluding its
		obligation to pay the principal of and interest on the Notes).
	 

	 
		13. Amendment; Supplement; Waiver. Subject to certain exceptions, the Indenture, the
		Notes or the Guarantees may be amended or supplemented with the written consent
		of the Holders of at least a majority in aggregate principal amount at maturity
		of the Notes then outstanding, and any existing Default or Event of Default or
		noncompliance with any provision may be waived with the written consent of the
		Holders of a majority in aggregate principal amount at maturity of the Notes
		then outstanding. Without notice to or consent of any Holder, the parties
		thereto may amend or supplement the Indenture, the Notes or the Guarantees to,
		among other things, cure any ambiguity, defect or inconsistency, provide for
		uncertificated Notes or Guarantees in addition to or in place of certificated
		Notes or Guarantees, comply with the requirements of the Commission in order to
		maintain the qualification of the Indenture under the TIA, or comply with
		Article Five of the Indenture or make any other change that does not adversely
		affect in any material respect the rights of any Holder of a Note.
	 

	 
		14. Restrictive Covenants. The Indenture imposes certain limitations on the
		ability of the Company and its Restricted Subsidiaries to, among other things,
		incur additional Indebtedness or Liens, make payments in respect of their
		Capital Stock or certain Indebtedness, enter into transactions with Affiliates,
		create dividend or other payment restrictions affecting Subsidiaries or merge
		or consolidate with any other Person, sell, assign, transfer, lease, convey or
		otherwise dispose of all or substantially all of its assets. Such limitations
		are subject to a number of important qualifications and exceptions. The Company
		must annually report to the Trustee on compliance with such limitations.

	 

	 
		15. Successors. When
		a successor assumes, in accordance with the Indenture, all the obligations of
		its predecessor under the Notes, the Guarantees and the Indenture, the
		predecessor will be released from those obligations.
	 

	 
		16. Defaults and Remedies. If an Event of Default occurs and is continuing (other
		than an Event of Default specified in Sections 6.01(6) or (7) of the Indenture,
		in which cases such amounts would automatically become immediately due and
		payable), the Trustee or the Holders of at least 25% in aggregate principal
		amount of Notes then outstanding may declare the principal of and premium, if
		any, accrued interest and Additional Interest (which for such purpose, shall be
		payable in cash), if any, on all the Notes to be due and payable in the manner,
		
	 

	 
		 
	 

	 
		 
	 

	 
		A-10
	 

	 
		 
	 

	 
	 

	 

	 
		at the time and with the effect provided in
		the Indenture. Holders of Notes may not enforce the Indenture except as
		provided in the Indenture. The Trustee is not obligated to enforce the
		Indenture or the Notes unless it has received indemnity reasonably satisfactory
		to it. The Indenture permits, subject to certain limitations therein provided,
		Holders of a majority in aggregate principal amount of the Notes then
		outstanding to direct the Trustee in its exercise of any trust or power. The
		Trustee may withhold from Holders of Notes notice of any continuing Default or
		Event of Default (except a Default in payment of principal, premium, or
		interest or Additional Interest, if any) if it determines that withholding
		notice is in their interest.
	 

	 
		17. Trustee Dealings with Company. The Trustee under the Indenture, in its individual or
		any other capacity, may become the owner or pledgee of Notes and may otherwise
		deal with the Company, its Subsidiaries or their respective Affiliates as if it
		were not the Trustee.
	 

	 
		18. No Recourse Against Others. No Affiliate, past, present or future, director,
		officer, employee, incorporator or stockholder, as such, of the Company or any
		Guarantors shall have any liability for any obligation of the Company under the
		Notes, the Guarantees or the Indenture or for any claim based on, in respect of
		or by reason of such obligations or their creation. Each Holder of a Note by
		accepting a Note waives and releases all such liability. The waiver and release
		are part of the consideration for the issuance of the Notes.
	 

	 
		19. Guarantees.
		Payment of principal and interest and Additional Interest, if any (including
		interest on overdue principal and overdue interest, if lawful), is
		unconditionally guaranteed, jointly and severally, by each of the
		Guarantors.
	 

	 
		20. Intercreditor Agreement. Each Holder, by its acceptance of its Note, agrees to
		be bound by the terms of the Intercreditor Agreement and all such replacement
		Intercreditor Agreements and each of the Guarantors and the Holders hereby
		authorize the Trustee and the Collateral Agent to bind the Holders to the
		extent provided in the Intercreditor Agreement.
	 

	 
		21. Authentication.
		This Note shall not be valid until the Trustee or Authenticating Agent manually
		signs the certificate of authentication on this Note.
	 

	 
		22. Governing Law.
		The laws of the State of New York shall govern this Note, the Guarantees and
		the Indenture, without regard to principles of conflict of laws.
	 

	 
		23. Abbreviations and Defined Terms. Customary abbreviations may be used in the name of a
		Holder of a Note or an assignee, such as: TEN COM (= tenants in common), TEN
		ENT (= tenants by the entireties), JT TEN (= joint tenants with right of
		survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (=
		Uniform Gifts to Minors Act).
	 

	 
		The Company will furnish to any Holder of a
		Note upon written request and without charge a copy of the Indenture. Requests
		may be made to: Atlantic Express Transportation Corp., 7 North Street, Staten
		Island, New York 10451, Attention: Chief Executive Officer.
	 

	 
		 
	 

	 
		 
	 

	 
		A-11
	 

	 
		 
	 

	 
	 

	 

	 
		FORM OF GUARANTEE
	 

	 
		[Name of Guarantor] and its successors under
		the Indenture fully, jointly and severally with any other Guarantors, hereby
		irrevocably and unconditionally guarantees, on a senior secured basis, (i) the
		due and punctual payment of the principal of, premium, if any, and interest and
		Additional Interest, if any, on the Notes, whether at maturity, by acceleration
		or otherwise, the due and punctual payment of interest on the overdue principal
		of and interest and Additional Interest, if any, on the Notes, to the extent
		lawful, and the due and punctual performance of all other obligations of
		Atlantic Express Transportation Corp. (the “Company”)
		to the Holders or the Trustee all in accordance with the terms set forth in
		Article Ten of the Indenture and (ii) in case of any extension of time of
		payment or renewal of any Notes or any of such other obligations, that the same
		will be promptly paid in full when due or performed in accordance with the
		terms of the extension or renewal, whether at stated maturity, by acceleration
		or otherwise. Capitalized terms used herein have the meanings assigned to them
		in the Indenture unless otherwise indicated.
	 

	 
		This Guarantee shall be binding upon [Name
		of Guarantor] and its successors and assigns and shall inure to the benefit of
		the successors and assigns of the Trustee and the Holders and, in the event of
		any transfer or assignment of rights by any Holder or the Trustee, the rights
		and privileges herein conferred upon that party shall automatically extend to
		and be vested in such transferee or assignee, all subject to the terms and
		conditions hereof.
	 

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

	 
		This Guarantee is subject to release upon
		the terms set forth in the Indenture.
	 

	 
		THE OBLIGATIONS OF THE UNDERSIGNED TO
		HOLDERS OF THE NOTES AND TO THE TRUSTEE PURSUANT TO THIS GUARANTEE AND THE
		INDENTURE ARE EXPRESSLY SET FORTH IN ARTICLE TEN OF THE INDENTURE AND REFERENCE
		IS HEREBY MADE TO THE INDENTURE FOR THE PRECISE TERMS OF THE GUARANTEE AND ALL
		OTHER PROVISIONS OF THE INDENTURE TO WHICH THE GUARANTEE RELATES. 
	 

	 
		This Guarantee shall be governed by and
		construed in accordance with the laws of the State of New York, as applied to
		contracts made and performed in the State of New York, without regard to
		principals of conflicts of laws.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  [NAME OF GUARANTOR]
				

			 
	
				
				

				
				

			 	
				
				   
				

			 	
				
				  
 By: 
				

			 	
				
				

				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:
				

				
				  Title:
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		A-12
	 

	 
		 
	 

	 
	 

	 

	 
		ASSIGNMENT FORM
	 

	 
		If you the Holder want to assign this Note,
		fill in the form below and have your signature guaranteed:
	 

	 
		I or we assign and transfer this Note
		to:
	 

	 	 
	 

	 
		(Print or type name, address and zip code
		and 
 social security or tax ID number of assignee)
	 

	 
		and irrevocably appoint
		__________________________________________________________________ agent to
		transfer this Note on the books of the Company. The agent may substitute
		another to act for him.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  Dated:
				  ________________________
				

			 	
				
				   
				

			 	
				
				  Signed: 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  (Sign exactly as your name appears
				  on the other side of this Note)
				

			 

 

	 
		 
	 

	 
		Signature Guarantee:
		_____________________________________
	 

	 
		In connection with any transfer of this Note
		occurring prior to the date which is the earlier of (i) the date of the
		declaration by the SEC of the effectiveness of a registration statement under
		the Securities Act of 1933, as amended (the “Securities Act”), covering resales of this Note (which
		effectiveness shall not have been suspended or terminated at the date of the
		transfer) and (ii) [______, ____], the undersigned confirms that it has
		not utilized any general solicitation or general advertising in connection with
		the transfer and that this Note is being transferred:
	 

	 
		[Check One]
	 

	 
		 
	 

	 
			
				
				  (1) ____
				  
				

			 	
				
				   
				

			 	
				
				  to the Company or a subsidiary
				  thereof; or
				

			 
	
				
				  (2) ____ 
				

			 	
				
				   
				

			 	
				
				  pursuant to and in compliance with
				  Rule 144A under the Securities Act; or
				

			 
	
				
				  (3) ____ 
				

			 	
				
				   
				

			 	
				
				  to an institutional “accredited
				  investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the
				  Securities Act) that has furnished to the Trustee a signed letter containing
				  certain representations and agreements (the form of which letter can be
				  obtained from the Trustee); or
				

			 
	
				
				  (4) ____ 
				

			 	
				
				   
				

			 	
				
				  outside the United States to a
				  person other than a “U.S. person” in compliance with Rule 904 of
				  Regulation S under the Securities Act; or
				

			 
	
				
				  (5) ____ 
				

			 	
				
				   
				

			 	
				
				  pursuant to the exemption from
				  registration provided by Rule 144 under the Securities Act; or
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		A-13
	 

	 
		 
	 

	 
	 

	 

	 
		 
	 

	 
			
				
				  (6) ____ 
				

			 	
				
				   
				

			 	
				
				  pursuant to an effective
				  registration statement under the Securities Act.
				

			 

 

	 
		Unless one of the boxes is checked, the
		Trustee will refuse to register any of the Notes evidenced by this certificate
		in the name of any person other than the registered Holder thereof;
		provided that if box (3), (4) or (5) is checked, the Company or
		the Trustee may require, prior to registering any such transfer of the Notes,
		in its sole discretion, such legal opinions, certifications (including an
		investment letter in the case of box (3) or (4)) and other information as the
		Trustee or the Company has reasonably requested to confirm that such transfer
		is being made pursuant to an exemption from, or in a transaction not subject
		to, the registration requirements of the Securities Act.
	 

	 
		If none of the foregoing boxes is checked,
		the Trustee or Registrar shall not be obligated to register this Note in the
		name of any person other than the Holder hereof unless and until the conditions
		to any such transfer of registration set forth herein and in Section 2.15 of
		the Indenture shall have been satisfied.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  Dated:
				  ________________________
				

			 	
				
				   
				

			 	
				
				  Signed: 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  (Sign exactly as your name appears
				  on the other side of this Note)
				

			 

 

	 
		 
	 

	 
		Signature Guarantee:
		_______________________________
	 

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

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

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				  
 Dated:
				  ________________________
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  NOTICE: To be executed by an
				  executive officer
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		A-14
	 

	 
		 
	 

	 
	 

	 

	 
		[OPTION OF HOLDER TO ELECT PURCHASE]
	 

	 
		If you want to elect to have this Note
		purchased by the Company pursuant to Section 4.15 or Section 4.16 of the
		Indenture, check the appropriate box:
	 

	 
			
				
				   
				

			 	
				
				  Section
				  4.15   [  
				

			 	
				
				  ]
				

			 

 

	 
			
				
				   
				

			 	
				
				  Section
				  4.16  [  
				

			 	
				
				  ]
				

			 

 

	 
		If you want to elect to have only part of
		this Note purchased by the Company pursuant to Section 4.15 or Section 4.16 of
		the Indenture, state the amount you elect to have purchased:
	 

	 
		$ ________________________________
	 

	 
		 
	 

	 
			
				
				  Dated: _______________________
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  NOTICE: 
				

			 	
				
				  The signature on this assignment
				  must correspond with the name as it appears upon the face of the within Note in
				  every particular without alteration or enlargement or any change whatsoever and
				  be guaranteed by the endorser’s bank or broker.
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   Signature Guarantee:
				

			 
					

 

	 
		 
	 

	 
		 
	 

	 
		A-15
	 

	 
		 
	 

	 
	 

	 

	 
		EXHIBIT B
	 

	 
		[FORM OF EXCHANGE NOTE]
	 

	 
		THIS SECURITY WAS ISSUED WITH ORIGINAL ISSUE
		DISCOUNT UNDER SECTION 1272, 1273 AND 1275 OF THE INTERNAL REVENUE CODE OF
		1986, AS AMENDED. YOU MAY CONTACT THE CHIEF FINANCIAL OFFICER OF THE COMPANY AT
		ATLANTIC EXPRESS TRANSPORTATION CORP., 7 NORTH STREET, STATEN ISLAND, NY
		10302-1205, WHO WILL PROVIDE YOU WITH THE ISSUE PRICE, THE AMOUNT OF ORIGINAL
		ISSUE DISCOUNT, THE ISSUE DATE AND THE YIELD TO MATURITY OF THIS
		SECURITY.
	 

	 
		 
	 

	 
		 
	 

	 
		B-1
	 

	 
		 
	 

	 
	 

	 

	 
		ATLANTIC EXPRESS TRANSPORTATION
		CORP.
	 

	 
		SENIOR SECURED FLOATING RATE NOTES DUE
		2012
	 

	 
		CUSIP No.
	 

	 
		 
	 

	 
			
				
				  No.
				

			 	
				
				   
				

			 	
				
				  $
				

			 

 

	 
		Atlantic Express Transportation Corp., a New
		York corporation (the “Company,”
		which term includes any successor entity), for value received promises to pay
		to ___________________ or registered assigns the principal sum of
		_______________ Dollars (or such principal amount as may be set forth in the
		records of the Trustee hereinafter referred to in accordance with the
		Indenture) on April 15, 2012, and to pay interest thereon as hereinafter set
		forth.
	 

	 
		Interest Rate: Interest Rate: Interest on
		this Note will accrue on a floating rate calculated in accordance with
		Section 1 of this Note.
	 

	 
		Interest Payment Dates: Interest will be
		payable semi-annually in cash in arrears on April 15 and October 15 of each
		year, beginning on October 15, 2007.
	 

	 
		Record Dates: April 1 and October 1.
	 

	 
		Reference is made to the further provisions
		of this Note contained on the reverse side of this Note, which will for all
		purposes have the same effect as if set forth at this place.
	 

	 
		IN WITNESS WHEREOF, the Company has caused
		this Note to be signed manually or by facsimile by its duly authorized officer.
		
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  ATLANTIC EXPRESS TRANSPORTATION
				  CORP.
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				  
 By:
				

			 	
				
				  /s/  Domenic Gatto
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 

 

	 
		 
	 

	 
		Dated: May 15, 2007
	 

	 
		 
	 

	 
		 
	 

	 
		B-2
	 

	 
		 
	 

	 
	 

	 

	 
		TRUSTEE CERTIFICATE OF AUTHENTICATION

	 

	 
		 
	 

	 
		This is one of the Senior Secured Floating
		Rate Notes due 2012 referred to in the within-mentioned Indenture.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  THE BANK OF NEW YORK, as
				  Trustee
				

			 
	
				
				  
 Dated: May 15, 2007
				

			 	
				
				   
				

			 	
				
				  By:
				

			 	
				
				  /s/  Julie Salovitch-Miller
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Authorized Signatory
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		B-3
	 

	 
		 
	 

	 
	 

	 

	 
		(REVERSE OF SECURITY)
	 

	 
		Senior Secured Floating Rate Note due
		2012
	 

	 
		1. Interest.
		
	 

	 
		(a) Generally.
		Atlantic Express Transportation Corp., a New York corporation (the
		“Company”), promises to pay interest on the principal
		amount of this Note at the rate per annum shown above. Interest on the Notes
		will accrue from the most recent date on which interest has been paid or, if no
		interest has been paid, from and including the date of issuance (each such
		period, an “Interest Accrual
		Period”). The Company will pay
		interest semi-annually in arrears on each Interest Payment Date, commencing
		October 15, 2007. Interest will be computed on the basis of a 360-day year
		comprised of twelve 30-day months. The Company will pay interest on overdue
		principal of the Notes at 1% per annum in excess of the otherwise applicable
		interest rate and the Company will pay interest on overdue installments of
		interest at such higher rate to the extent lawful.
	 

	 
		(b) Interest Rate.
		The Company will appoint the Trustee or another financial institution (the
		“Calculation Agent”) to calculate the interest rate for the Notes.
		“LIBOR” will be determined by the Calculation Agent in
		accordance with the following provisions:
	 

	 
		(i) LIBOR for any Interest Accrual Period
		will be equal to the rate, as determined by the Calculation Agent, for
		six-month U.S. dollar deposits which appears on the Telerate Page 3750 as of
		11:00 a.m., London time, on the applicable LIBOR Determination Date, as defined
		below, as reported by Bloomberg Financial Markets Commodities News.
		“LIBOR Determination
		Date” means, with respect to any
		Interest Accrual Period, the second London Banking Day prior to the first day
		of such Interest Accrual Period. “London Banking Day” means any day on which commercial banks are open
		for business, including dealings in foreign exchange and foreign currency
		deposits, in London.
	 

	 
		(ii) If, on any LIBOR Determination Date,
		such rate does not appear on the Telerate Page 3750, the Calculation Agent will
		determine the arithmetic mean of the offered quotations of the Reference Banks,
		as defined below, to prime banks in the London interbank market for U.S. dollar
		deposits for the relevant term by reference to requests for quotations as of
		approximately 11:00 a.m., London time, on such LIBOR Determination Date made by
		the Calculation Agent to the Reference Banks. If, on the LIBOR Determination
		Date, at least two of the Reference Banks provide such quotations, LIBOR will
		equal such arithmetic mean. If, on any LIBOR Determination Date, only one or
		none of the Reference Banks provide such quotations, LIBOR will be deemed to be
		the arithmetic mean of the offered quotations that the leading banks in New
		York City selected by the Calculation Agent, after consultation with the
		Company, are quoting on the relevant LIBOR Determination Date for U.S. dollar
		deposits for the relevant term, to the principal London offices of leading
		banks in the London interbank market.
	 

	 
		 
	 

	 
		 
	 

	 
		B-4
	 

	 
		 
	 

	 
	 

	 

	 
		(iii) If the Calculation Agent is required
		but is unable to determine a rate in accordance with at least one of the
		procedures provided above, LIBOR with respect to such Interest Accrual Period
		will be LIBOR as calculated on the immediately preceding LIBOR Determination
		Date.
	 

	 
		For the purpose of clause (ii)
		above, all percentages resulting from such calculations will be rounded, if
		necessary, to the nearest one thirty-second of a percentage point and, for
		purposes of clause (iii) above, all percentages resulting from such calculations
		will be rounded, if necessary, to the nearest one hundred-thousandth of a
		percentage point.
	 

	 
		(c) Certain Definitions. As used in this Section 1, the
		following terms shall have the following meanings:
	 

	 
		(i) “Reference Banks” means four major banks in the London interbank
		market selected by the Calculation Agent.
	 

	 
		(ii) “Telerate Page 3750” means the display page currently so designated on
		the Moneyline Telerate Service or such other page as may replace such page on
		such service for the purpose of displaying comparable rates.
	 

	 
		2. Method of Payment. The Company shall pay interest on the Notes (except
		defaulted interest) to the Persons who are the registered Holders at the close
		of business on the Record Date immediately preceding the Interest Payment Date
		even if the Notes are cancelled on registration of transfer or registration of
		exchange after such Record Date, and on or before such Interest Payment Date.
		Holders must surrender Notes to a Paying Agent to collect principal payments.
		The Company shall pay principal and interest in money of the United States that
		at the time of payment is legal tender for payment of public and private debts
		(“U.S. Legal Tender”). However, the Company may pay principal and
		interest by check payable in such U.S. Legal Tender. The Company may deliver
		any such interest payment to the Paying Agent or to a Holder at the
		Holder’s registered address, and if a Holder has given wire transfer
		instructions to the Company, the Company will make payments on the Notes in
		accordance with those instructions.
	 

	 
		3. Paying Agent and Registrar. Initially, The Bank of New York (the
		“Trustee”) will act as Paying Agent and Registrar. The
		Company may change any Paying Agent, Registrar or co-Registrar without notice
		to the Holders. Subject to certain exceptions, the Company or any of its
		Subsidiaries may act in any such capacity.
	 

	 
		4. Indenture. The
		Notes and the Guarantees were issued under an Indenture, dated as of May 15,
		2007 (the “Indenture”), among the Company, the Guarantors named therein
		and the Trustee. Capitalized terms herein are used as defined in the Indenture
		unless otherwise defined herein. The
		terms of the Notes include those stated
		in the Indenture and those made part of the Indenture by reference to the Trust
		Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) (the
		“TIA”), as in effect on the date of the Indenture until
		such time as the Indenture is qualified under the TIA, and thereafter as in
		effect on the date on which the Indenture is qualified under the TIA.
		Notwithstanding anything to the contrary herein, the Notes are subject to all
		such terms, and Holders of Notes are referred to the Indenture and the TIA for
		a statement of such
	 

	 
		 
	 

	 
		 
	 

	 
		B-5
	 

	 
		 
	 

	 
	 

	 

	 
		terms. The Notes are senior secured
		obligations of the Company. The Notes are secured by the Collateral as more
		fully described in the Security Documents. Each Holder, by accepting a Note,
		agrees to be bound by all of the terms and provisions of the Indenture, as the
		same may be amended from time to time.
	 

	 
		5. Redemption.
		
	 

	 
		(a) Optional Redemption on or After May 15,
		2008. The Notes will be redeemable at
		the option of the Company, in whole or in part at any time or from time to
		time, on and after May 15, 2008, at the following Redemption Prices (expressed
		as percentages of the principal amount thereof) if redeemed during the periods
		beginning on the dates indicated below, plus, in each case, accrued and unpaid
		interest and Additional Interest, if any, thereon to the Redemption
		Date:
	 

	 
		 
	 

	 
			
				
				  Period
				

			 	
				
				   
				

			 	
				
				  Percentage
				

			 
	
				
				  On or after May 15, 2008 
				

			 	
				
				   
				

			 	
				
				  103.000%
				

			 
	
				
				  On or after May 15, 2009 
				

			 	
				
				   
				

			 	
				
				  102.000%
				

			 
	
				
				  On or after May 15, 2010 
				

			 	
				
				   
				

			 	
				
				  101.000%
				

			 
	
				
				  On or after May 15, 2011
				

			 	
				
				   
				

			 	
				
				  100.000%
				

			 

 

	 
		Optional Redemption upon Equity
		Offerings. At any time, or from time to
		time, prior to May 15, 2008, the Company may, at its option, on any one or more
		occasions use an amount not to exceed the net cash proceeds of one or more
		Equity Offerings to redeem up to 35% of the aggregate principal amount of the
		Notes (which includes Additional Notes, if any) issued under the Indenture at a
		redemption price of 100% of the aggregate principal amount thereof, plus a
		premium equal to the rate per annum at which the Notes bear interest on the
		date on which the notice of redemption is given, plus accrued and unpaid
		interest and Additional Interest, if any, thereon, to the date of redemption;
		provided that:
	 

	 
		(1) Notes in an aggregate principal amount
		at least equal to 65% of the sum of (x) the aggregate principal amount of Notes
		issued under the Indenture in the Offering and (y) the aggregate principal
		amount of Additional Notes issued under the Indenture after the Issue date
		remain outstanding immediately after any such redemption; and
	 

	 
		(2) the Company makes such redemption not
		more than 120 days after the consummation of any such Equity Offering.
	 

	 
		6. Notice of Redemption. Notice of redemption will be mailed by first-class
		mail at least 15 days but not more than 60 days before the Redemption Date to
		each Holder of Notes to be redeemed at such Holder’s registered address.
		If fewer than all of the Notes are to be redeemed, at any time, selection of
		Notes for redemption will be made by the Trustee in compliance with the
		requirements of the principal national securities exchange, if any, on which
		the Notes are listed, or, if the Notes are not so listed, on a pro rata basis
		or by such method as the Trustee deems to be fair and appropriate;
		provided that no partial redemption will reduce the principal
		amount of a Note not redeemed to a denomination of less than $1,000; and
		provided, further, that
		any such partial redemption made with the proceeds of an Equity Offering will
		be
	 

	 
		 
	 

	 
		 
	 

	 
		B-6
	 

	 
		 
	 

	 
	 

	 

	 
		made only on a pro rata basis or on as
		nearly a pro rata basis as practicable (subject to the procedures of the DTC or
		any other depository). Notes in denominations of $1,000 or more may be redeemed
		in part.
	 

	 
		Except as set forth in the Indenture, if
		monies for the redemption of the Notes called for redemption shall have been
		deposited with the Paying Agent for redemption on such redemption date, then,
		unless the Company defaults in the payment of such redemption price plus
		accrued interest and Additional Interest, if any, the Notes called for
		redemption will cease to bear interest from and after such redemption date, and
		the only remaining right of the Holders of such Notes will be to receive
		payment of the redemption price plus accrued interest and Additional Interest,
		if any, as of the redemption date upon surrender to the Paying Agent of the
		Notes redeemed.
	 

	 
		7. Offers to Purchase. Sections 4.15 and 4.16 of the Indenture provide that
		upon the occurrence of a Change of Control, after certain Asset Sales, and
		subject to further limitations contained therein, the Company will make an
		offer to purchase certain amounts of the Notes in accordance with the
		procedures set forth in the Indenture.
	 

	 
		8. Denominations; Transfer; Exchange. The Notes are in registered form, without coupons, in
		denominations of $1,000 and integral multiples thereof. A Holder shall register
		the transfer of or exchange of Notes in accordance with the Indenture. The
		Registrar and the Trustee may require a Holder, among other things, to furnish
		appropriate endorsements and transfer documents and to pay any taxes, fees or
		similar governmental charges payable in connection therewith as permitted by
		the Indenture. The Registrar need not register the transfer of or exchange of
		any Notes or portions thereof selected for redemption.
	 

	 
		9. Persons Deemed Owners. The registered Holder of a Note shall be treated as
		the owner of it for all purposes, subject to the provisions of the
		Indenture.
	 

	 
		10. Unclaimed Money.
		If money for the payment of principal or interest remains unclaimed for two
		years, the Trustee and the Paying Agent may pay the money without interest
		thereon back to the Company. After that, all liability of the Trustee and such
		Paying Agent with respect to such money shall cease.
	 

	 
		11. Discharge Prior to Redemption or
		Maturity. If the Company at any time
		deposits with the Trustee U.S. Legal Tender or U.S. Government Obligations
		sufficient to pay the principal of and interest on the Notes to redemption or
		maturity and complies with the other provisions of the Indenture relating
		thereto, the Company will be discharged from certain provisions of the
		Indenture and the Notes (including certain covenants, but excluding its
		obligation to pay the principal of and interest on the Notes).
	 

	 
		12. Amendment; Supplement; Waiver. Subject to certain exceptions, the Indenture, the
		Notes or the Guarantees may be amended or supplemented with the written consent
		of the Holders of at least a majority in aggregate principal amount at maturity
		of the Notes then outstanding, and any existing Default or Event of Default or
		noncompliance with any provision may be waived with the written consent of the
		Holders of a majority in aggregate principal amount at maturity of the Notes
		then outstanding. Without notice to or consent of any
	 

	 
		 
	 

	 
		 
	 

	 
		B-7
	 

	 
		 
	 

	 
	 

	 

	 
		Holder, the parties thereto may amend or
		supplement the Indenture, the Notes or the Guarantees to, among other things,
		cure any ambiguity, defect or inconsistency, provide for uncertificated Notes
		or Guarantees in addition to or in place of certificated Notes or Guarantees,
		comply with the requirements of the Commission in order to maintain the
		qualification of the Indenture under the TIA, or comply with Article Five of
		the Indenture or make any other change that does not adversely affect in any
		material respect the rights of any Holder of a Note.
	 

	 
		13. Restrictive Covenants. The Indenture imposes certain limitations on the
		ability of the Company and its Restricted Subsidiaries to, among other things,
		incur additional Indebtedness or Liens, make payments in respect of their
		Capital Stock or certain Indebtedness, enter into transactions with Affiliates,
		create dividend or other payment restrictions affecting Subsidiaries or merge
		or consolidate with any other Person, sell, assign, transfer, lease, convey or
		otherwise dispose of all or substantially all of its assets. Such limitations
		are subject to a number of important qualifications and exceptions. The Company
		must annually report to the Trustee on compliance with such limitations.

	 

	 
		14. Successors. When
		a successor assumes, in accordance with the Indenture, all the obligations of
		its predecessor under the Notes, the Guarantees and the Indenture, the
		predecessor will be released from those obligations.
	 

	 
		15. Defaults and Remedies. If an Event of Default occurs and is continuing (other
		than an Event of Default specified in Sections 6.01(6) or (7) of the Indenture,
		in which cases such amounts would automatically become immediately due and
		payable), the Trustee or the Holders of at least 25% in aggregate principal
		amount of Notes then outstanding may declare the principal of and premium, if
		any, accrued interest and Additional Interest, if any, on all the Notes to be
		due and payable in the manner, at the time and with the effect provided in the
		Indenture. Holders of Notes may not enforce the Indenture except as provided in
		the Indenture. The Trustee is not obligated to enforce the Indenture or the
		Notes unless it has received indemnity reasonably satisfactory to it. The
		Indenture permits, subject to certain limitations therein provided, Holders of
		a majority in aggregate principal amount of the Notes then outstanding to
		direct the Trustee in its exercise of any trust or power. The Trustee may
		withhold from Holders of Notes notice of any continuing Default or Event of
		Default (except a Default in payment of principal, premium, or interest) if it
		determines that withholding notice is in their interest.
	 

	 
		16. Trustee Dealings with Company. The Trustee under the Indenture, in its individual or
		any other capacity, may become the owner or pledgee of Notes and may otherwise
		deal with the Company, its Subsidiaries or their respective Affiliates as if it
		were not the Trustee.
	 

	 
		17. No Recourse Against Others. No Affiliate, past, present or future, director,
		officer, employee, incorporator or stockholder, as such, of the Company or any
		Guarantors shall have any liability for any obligation of the Company under the
		Notes, the Guarantees or the Indenture or for any claim based on, in respect of
		or by reason of such obligations or their creation. Each Holder of a Note by
		accepting a Note waives and releases all such liability. The waiver and release
		are part of the consideration for the issuance of the Notes.
	 

	 
		 
	 

	 
		 
	 

	 
		B-8
	 

	 
		 
	 

	 
	 

	 

	 
		18. Guarantees.
		Payment of principal and interest and Additional Interest, if any (including
		interest on overdue principal and overdue interest, if lawful), is
		unconditionally guaranteed, jointly and severally, by each of the
		Guarantors.
	 

	 
		19. Intercreditor Agreement. Each Holder, by its acceptance of its Note, agrees to
		be bound by the terms of the Intercreditor Agreement and all such replacement
		Intercreditor Agreements and each of the Guarantors and the Holders hereby
		authorize the Trustee and the Collateral Agent to bind the Holders to the
		extent provided in the Intercreditor Agreement.
	 

	 
		20. Authentication.
		This Note shall not be valid until the Trustee or Authenticating Agent manually
		signs the certificate of authentication on this Note.
	 

	 
		21. Governing Law.
		The laws of the State of New York shall govern this Note, the Guarantees and
		the Indenture, without regard to principles of conflict of laws.
	 

	 
		22. Abbreviations and Defined Terms. Customary abbreviations may be used in the name of a
		Holder of a Note or an assignee, such as: TEN COM (= tenants in common), TEN
		ENT (= tenants by the entireties), JT TEN (= joint tenants with right of
		survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (=
		Uniform Gifts to Minors Act).
	 

	 
		The Company will furnish to any Holder of a
		Note upon written request and without charge a copy of the Indenture. Requests
		may be made to: Atlantic Express Transportation Corp., 7 North Street, Staten
		Island, New York 10451, Attention: Chief Executive Officer.
	 

	 
		 
	 

	 
		 
	 

	 
		B-9
	 

	 
		 
	 

	 
	 

	 

	 
		FORM OF GUARANTEE
	 

	 
		[Name of Guarantor] and its successors under
		the Indenture fully, jointly and severally with any other Guarantors, hereby
		irrevocably and unconditionally guarantees, on a senior secured basis, (i) the
		due and punctual payment of the principal of, premium, if any, and interest and
		Additional Interest, if any, on the Notes, whether at maturity, by acceleration
		or otherwise, the due and punctual payment of interest on the overdue principal
		of and interest and Additional Interest, if any, on the Notes, to the extent
		lawful, and the due and punctual performance of all other obligations of
		Atlantic Express Transportation Corp. (the “Company”)
		to the Holders or the Trustee all in accordance with the terms set forth in
		Article Ten of the Indenture and (ii) in case of any extension of time of
		payment or renewal of any Notes or any of such other obligations, that the same
		will be promptly paid in full when due or performed in accordance with the
		terms of the extension or renewal, whether at stated maturity, by acceleration
		or otherwise. Capitalized terms used herein have the meanings assigned to them
		in the Indenture unless otherwise indicated.
	 

	 
		This Guarantee shall be binding upon [Name
		of Guarantor] and its successors and assigns and shall inure to the benefit of
		the successors and assigns of the Trustee and the Holders and, in the event of
		any transfer or assignment of rights by any Holder or the Trustee, the rights
		and privileges herein conferred upon that party shall automatically extend to
		and be vested in such transferee or assignee, all subject to the terms and
		conditions hereof.
	 

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

	 
		This Guarantee is subject to release upon
		the terms set forth in the Indenture.
	 

	 
		THE OBLIGATIONS OF THE UNDERSIGNED TO
		HOLDERS OF THE NOTES AND TO THE TRUSTEE PURSUANT TO THIS GUARANTEE AND THE
		INDENTURE ARE EXPRESSLY SET FORTH IN ARTICLE TEN OF THE INDENTURE AND REFERENCE
		IS HEREBY MADE TO THE INDENTURE FOR THE PRECISE TERMS OF THE GUARANTEE AND ALL
		OTHER PROVISIONS OF THE INDENTURE TO WHICH THE GUARANTEE RELATES. 
	 

	 
		This Guarantee shall be governed by and
		construed in accordance with the laws of the State of New York, as applied to
		contracts made and performed in the State of New York, without regard to
		principals of conflicts of laws.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				  [NAME OF GUARANTOR]
				

			 
	 	 	 	 
	 	 	 	 
	
				
				

			 	
				
				   
				

			 	
				
				  By:
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				  Name:
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				  Title:
				

			 	
				
				   
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		B-10
	 

	 
		 
	 

	 
	 

	 

	 
		ASSIGNMENT FORM
	 

	 
		If you the Holder want to assign this Note,
		fill in the form below and have your signature guaranteed:
	 

	 
		I or we assign and transfer this Note
		to:
	 

	 
		 
	 

	 
		 
	 

	 
			
				
				

			 
	
				
				   
				

			 
	
				
				   
				

			 
	
				
				  (Print or type name, address and zip
				  code and
 social security or tax ID
				  number of assignee)
				

			 

 

	 
		 
	 

	 
		 
	 

	 
			
				
				  and irrevocably appoint
				

			 	
				
				   
				

			 
	
				
				  agent to transfer this Note on the
				  books of the Company. The agent may substitute another to act for him.
				

			 

 

	 
		 
	 

	 
			
				
				  Dated:
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Signed:
				

			 	
				
				   
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  (Sign exactly as your name appears
				  on the other side of this Note)
				

			 

 

	 
		 
	 

	 
			
				
				  Signature Guarantee:
				

			 	
				
				   
				

			 	 

 

	 
		 
	 

	 
		 
	 

	 
		B-11
	 

	 
		 
	 

	 
	 

	 

	 
		[OPTION OF HOLDER TO ELECT PURCHASE]
	 

	 
		If you want to elect to have this Note
		purchased by the Company pursuant to Section 4.15 or Section 4.16 of the
		Indenture, check the appropriate box:
	 

	 
			
				
				   
				

			 	
				
				  Section
				  4.15  [  
				

			 	
				
				  ]
				

			 

 

	 
			
				
				   
				

			 	
				
				  Section
				  4.16  [  
				

			 	
				
				  ]
				

			 

 

	 
		If you want to elect to have only part of
		this Note purchased by the Company pursuant to Section 4.15 or Section 4.16 of
		the Indenture, state the amount you elect to have purchased:
	 

	 
		$ __________________________________
	 

	 
		 
	 

	 
			
				
				  Dated: _______________________
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	
				
				

			 	
				
				   
				

			 	
				
				   NOTICE: 
				

			 	
				
				  The signature on this assignment
				  must correspond with the name as it appears upon the face of the within Note in
				  every particular without alteration or enlargement or any change whatsoever and
				  be guaranteed by the endorser’s bank or broker.
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 
	 	 	 
	
				
				   
				

			 	
				
				   
				

			 	
				
				         Signature
				  Guarantee:
				

			 
					

 

	 
		 
	 

	 
		 
	 

	 
		B-12
	 

	 
		 
	 

	 
	 

	 

	 
		EXHIBIT C-1
	 

	 
		FORM OF LEGEND FOR GLOBAL NOTES
	 

	 
		Any Global Note authenticated and delivered
		hereunder shall bear a legend (which would be in addition to any other legends
		required in the case of a Restricted Security) in substantially the following
		form:
	 

	 
		THIS NOTE IS A GLOBAL NOTE WITHIN THE
		MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME
		OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY OR A SUCCESSOR DEPOSITORY. THIS
		NOTE IS NOT EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER
		THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES
		DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER
		OF THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY
		A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE
		DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN
		THE INDENTURE.
	 

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

	 
		 
	 

	 
		 
	 

	 
		C-2-
	 

	 
		 
	 

	 
	 

	 

	 
		EXHIBIT C-2
	 

	 
		FORM OF PRIVATE PLACEMENT LEGEND
	 

	 
		THIS SECURITY HAS NOT BEEN REGISTERED UNDER
		THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY
		STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION
		HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR
		OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH
		TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION.
	 

	 
		THE HOLDER OF THIS SECURITY BY ITS
		ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL
		BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT), (B) IT IS A
		NON-U.S. PURCHASER AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION
		WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, OR (C) IT IS AN
		INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF
		SUBPARAGRAPH (a)(1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT, AND
		(2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE
		DATE (THE “RESALE RESTRICTION TERMINATION DATE”) WHICH IS TWO YEARS
		AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH
		THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR
		ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY OR ANY OF ITS
		SUBSIDIARIES, (B) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO
		RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED
		INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT
		PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
		BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON
		RULE 144A, (C) PURSUANT TO OFFERS AND SALES TO NON-U.S. PURCHASERS THAT OCCUR
		OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE
		SECURITIES ACT, (D) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN
		THE MEANING OF SUBPARAGRAPH (a)(1), (2), (3) OR (7) OF RULE 501 UNDER THE
		SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE
		ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES
		AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY
		DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, (E) PURSUANT TO A REGISTRATION
		STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, OR (F)
		PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF
		THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S, OR
		TRANSFER AGENT’S, AS APPLICABLE, RIGHT PRIOR TO ANY SUCH OFFER, SALE OR
		TRANSFER PURSUANT TO CLAUSES (D), (E), OR (F) TO REQUIRE THE DELIVERY OF AN
		OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH
		OF THEM, AND IN EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN
		
	 

	 
		 
	 

	 
		 
	 

	 
		C-2-1
	 

	 
		 
	 

	 
	 

	 

	 
		THE FORM APPEARING ON THE OTHER SIDE OF THIS
		SECURITY IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE. THIS
		LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE
		RESTRICTION TERMINATION DATE.
	 

	 
		 
	 

	 
		 
	 

	 
		C-2-2
	 

	 
		 
	 

	 
	 

	 

	 
		EXHIBIT D
	 

	 
		Form of Certificate To Be
	 

	 
		Delivered in Connection with
	 

	 
		Transfers to Non-QIB Accredited
		Investors
	 

	 
		__________, _____
	 

	 
		The Bank of New York
	 

	 
		Corporate Trust Administration
	 

	 
		101 Barclay Street, 8th Floor West
	 

	 
		New York, NY 10286
	 

	 
			
				
				   
				

			 	
				
				  Re:
				

			 	
				
				  Senior Secured Floating Rate
				  Notes due 2012 (the “Notes”) of Atlantic Express Transportation Corp.
				  (the “Company”)
				

			 

 

	 
		(CUSIP ____________)
	 

	 
		Ladies and Gentlemen:
	 

	 
		In connection with our proposed purchase of
		$_____________ aggregate principal amount of the Notes, we confirm that:

	 

	 
		1. We have received a copy of the Offering
		Circular (the “Offering
		Circular”), dated May 1, 2007,
		relating to the Notes and such other information as we deem necessary in order
		to make our investment decision. We acknowledge that we have read and agreed to
		the matters stated in the section entitled “Notice to Investors” of
		the Offering Circular.
	 

	 
		2. We understand that any subsequent
		transfer of the Notes is subject to certain restrictions and conditions set
		forth in the Indenture dated as of May 15, 2007 relating to the Notes (the
		“Indenture”) and the undersigned agrees to be bound by, and
		not to resell, pledge or otherwise transfer the Notes except in compliance
		with, such restrictions and conditions and the Securities Act of 1933, as
		amended (the “Securities
		Act”).
	 

	 
		3. We understand that the offer and sale of
		the Notes have not been registered under the Securities Act, and that the Notes
		may not be offered or sold except as permitted in the following sentence. We
		agree, on our own behalf and on behalf of any accounts for which we are acting
		as hereinafter stated, that if we should sell or otherwise transfer any Notes
		prior to the date which is within two years after the original issuance of the
		Notes or the last date on which the Note is owned by the Company or any
		affiliate of the Company, we will do so only (i) to the Company or any of
		its subsidiaries, (ii) inside the United States in accordance with Rule
		144A under the Securities Act to a “qualified institutional buyer”
		(as defined in Rule 144A under the Securities Act), (iii) inside the
		United States to an institutional “accredited investor” (as defined
		below) provided that, prior to such transfer, the transferee furnishes (or has
		furnished on its behalf by a U.S. broker-dealer) to you a signed letter
		containing 
	 

	 
		 
	 

	 
		 
	 

	 
		D-1
	 

	 
		 
	 

	 
	 

	 

	 
		certain representations and agreements
		relating to the restrictions on transfer of the Notes, substantially in the
		form of this letter, (iv) outside the United States in accordance with
		Rule 904 of Regulation S under the Securities Act, (v) pursuant to the
		exemption from registration provided by Rule 144 under the Securities Act (if
		available) or (vi) pursuant to an effective registration statement under
		the Securities Act, and we further agree to provide to any person purchasing
		any of the Notes from us a notice advising such purchaser that resales of the
		Notes are restricted as stated herein.
	 

	 
		4. We are not acquiring the Notes for or on
		behalf of, and will not transfer the Notes to, any pension or welfare plan (as
		defined in Section 3 of the Employee Retirement Income Security Act of 1974),
		except as permitted in the section entitled “Notice to Investors” of
		the Offering Circular.
	 

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

	 
		6. We are an institutional “accredited
		investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D
		under the Securities Act) and have such knowledge and experience in financial
		and business matters as to be capable of evaluating the merits and risks of our
		investment in the Notes, and we and any accounts for which we are acting are
		each able to bear the economic risk of our or their investment, as the case may
		be.
	 

	 
		7. We are acquiring the Notes purchased by
		us for our own account or for one or more accounts (each of which is an
		institutional “accredited investor”) as to each of which we exercise
		sole investment discretion.
	 

	 
		You and the Company are entitled to rely
		upon this letter and are irrevocably authorized to produce this letter or a
		copy hereof to any interested party in any administrative or legal proceedings
		or official inquiry with respect to the matters covered hereby, and we agree to
		notify you promptly if any of our representations or warranties herein cease to
		be accurate and complete.
	 

	 
		This letter shall be governed by, and
		construed in accordance with, the laws of the State of New York without regard
		to principles of conflicts of laws.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Very truly yours,

				  [Name of Transferee]
				

			 
	
				
				   
				

			 	
				
				

			 	
				
				   
				

			 	
				
				   
 By: 
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Authorized Signature
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		D-2
	 

	 
		 
	 

	 
	 

	 

	 
		EXHIBIT E
	 

	 
		Form of Certificate To Be
	 

	 
		Delivered in Connection with
	 

	 
		Transfers Pursuant to Regulation
		S
	 

	 
		The Bank of New York
	 

	 
		Corporate Trust Administration
	 

	 
		101 Barclay Street, 8th Floor West
	 

	 
		New York, NY 10286
	 

	 
			
				
				   
				

			 	
				
				  Re:
				

			 	
				
				  Senior Secured Floating Rate
				  Notes due 2012 (the “Notes”) of Atlantic Express Transportation Corp.
				  (the “Company”)
				

			 

 

	 
		(CUSIP _______________)
	 

	 
		Ladies and Gentlemen:
	 

	 
		In connection with our proposed sale of
		$________________ aggregate principal amount of the Notes, we confirm that such
		sale has been effected pursuant to and in accordance with Regulation S under
		the U.S. Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, we represent that:
	 

	 
		1. the offer of the Notes was not made to a
		person in the United States;
	 

	 
		2. either (a) at the time the buy offer was
		originated, the transferee was outside the United States or we and any person
		acting on our behalf reasonably believed that the transferee was outside the
		United States, or (b) the transaction was executed in, on or through the
		facilities of a designated off-shore securities market and neither we nor any
		person acting on our behalf knows that the transaction has been pre-arranged
		with a buyer in the United States;
	 

	 
		3. no directed selling efforts have been
		made in the United States in contravention of the requirements of Rule 903(b)
		or Rule 904(b) of Regulation S, as applicable;
	 

	 
		4. the transaction is not part of a plan or
		scheme to evade the registration requirements of the Securities Act; and

	 

	 
		5. we have advised the transferee of the
		transfer restrictions applicable to the Notes.
	 

	 
		 
	 

	 
		 
	 

	 
		E-1
	 

	 
		 
	 

	 
	 

	 

	 
		You and the Company are entitled to rely
		upon this letter and are irrevocably authorized to produce this letter or a
		copy hereof to any interested party in any administrative or legal proceedings
		or official inquiry with respect to the matters covered hereby. Terms used in
		this certificate have the meanings set forth in Regulation S.
	 

	 
		 
	 

	 
			
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Very truly yours,

				  [Name of Transferee]
				

			 
	
				
				   
				

			 	
				
				

			 	
				
				   
				

			 	
				
				  
 By:
				

			 	
				
				

			 
	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				   
				

			 	
				
				  Authorized Signature
				

			 

 

	 
		 
	 

	 
		 
	 

	 
		E-2

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