Document:

exv4w6

Exhibit 4.6

      

LodgeNet Interactive Corporation

TO

[           ]

Trustee

 

Indenture

Dated as of                                         

      

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE I
	 	 	 	 
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	 	 	1	 
	Section 101. Definitions
	 	 	1	 
	Section 102. Compliance Certificates and Opinions
	 	 	8	 
	Section 103. Form of Documents Delivered to Trustee
	 	 	9	 
	Section 104. Acts of Holders
	 	 	9	 
	Section 105. Notices, Etc. to Trustee and Company
	 	 	11	 
	Section 106. Notice to Holders; Waiver
	 	 	11	 
	Section 107. Conflict With Trust Indenture Act
	 	 	12	 
	Section 108. Effect of Headings and Table of Contents
	 	 	12	 
	Section 109. Successors and Assigns
	 	 	12	 
	Section 110. Separability Clause
	 	 	12	 
	Section 111. Benefits of Indenture
	 	 	12	 
	Section 112. Governing Law
	 	 	12	 
	Section 113. Legal Holidays
	 	 	12	 
	Section 114. Rules by Trustee and Agents
	 	 	13	 
	Section 115. No Recourse Against Others
	 	 	13	 
	 
	 	 	 	 
	ARTICLE II
	 	 	 	 
	SECURITY FORMS
	 	 	13	 
	Section 201. Forms Generally
	 	 	13	 
	Section 202. Form of Trustee’s Certificate of Authentication
	 	 	14	 
	 
	 	 	 	 
	ARTICLE III
	 	 	 	 
	THE SECURITIES
	 	 	14	 
	Section 301. Amount Unlimited; Issuable in Series
	 	 	14	 
	Section 302. Denominations
	 	 	19	 
	Section 303. Execution, Authentication, Delivery and Dating
	 	 	19	 
	Section 304. Temporary Securities
	 	 	20	 
	Section 305. Registration, Registration of Transfer and Exchange
	 	 	21	 
	Section 306. Mutilated, Destroyed, Lost and Stolen Securities
	 	 	23	 
	Section 307. Payment of Interest; Interest Rights Preserved
	 	 	24	 
	Section 308. Persons Deemed Owners
	 	 	25	 
	Section 309. Cancellation
	 	 	26	 
	Section 310. Computation of Interest
	 	 	26	 
	Section 311. Global Securities; Exchanges; Registration and Registration of Transfer
	 	 	26	 
	Section 312. Extension of Interest Payment
	 	 	27	 
	 
	 	 	 	 
	ARTICLE IV
	 	 	 	 
	SATISFACTION AND DISCHARGE
	 	 	27	 
	Section 401. Satisfaction and Discharge of Indenture
	 	 	27	 

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	 	 	Page
	Section 402. Application of Trust Money
	 	 	29	 
	Section 403. Satisfaction, Discharge and Defeasance of Securities of Any Series
	 	 	29	 
	 
	 	 	 	 
	ARTICLE V
	 	 	 	 
	REMEDIES
	 	 	31	 
	Section 501. Events of Default
	 	 	31	 
	Section 502. Acceleration of Maturity; Rescission and Annulment
	 	 	33	 
	Section 503. Collection of Indebtedness and Suits for Enforcement
by Trustee
	 	 	34	 
	Section 504. Trustee May File Proofs of Claim
	 	 	35	 
	Section 505. Trustee May Enforce Claims Without Possession of
Securities or Coupons
	 	 	36	 
	Section 506. Application of Money Collected
	 	 	36	 
	Section 507. Limitation on Suits
	 	 	36	 
	Section 508. Unconditional Right of Holders to Receive Principal,
Premium and Interest
	 	 	37	 
	Section 509. Restoration of Rights and Remedies
	 	 	37	 
	Section 510. Rights and Remedies Cumulative
	 	 	38	 
	Section 511. Delay or Omission Not Waiver
	 	 	38	 
	Section 512. Control by Holders
	 	 	38	 
	Section 513. Waiver of Past Defaults
	 	 	38	 
	Section 514. Undertaking for Costs
	 	 	38	 
	Section 515. Waiver of Stay or Extension Laws
	 	 	39	 
	 
	 	 	 	 
	ARTICLE VI
	 	 	 	 
	THE TRUSTEE
	 	 	39	 
	Section 601. Certain Duties and Responsibilities
	 	 	39	 
	Section 602. Notice of Defaults
	 	 	40	 
	Section 603. Certain Rights of Trustee
	 	 	41	 
	Section 604. Not Responsible for Recitals or Issuance of Securities
	 	 	42	 
	Section 605. May Hold Securities
	 	 	42	 
	Section 606. Money Held in Trust
	 	 	42	 
	Section 607. Compensation and Reimbursement
	 	 	42	 
	Section 608. Disqualification; Conflicting Interests
	 	 	43	 
	Section 609. Corporate Trustee Required; Eligibility
	 	 	43	 
	Section 610. Resignation and Removal; Appointment of Successor
	 	 	43	 

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	 	 	Page
	Section 611. Acceptance of Appointment by Successor
	 	 	45	 
	Section 612. Merger, Conversion, Consolidation or Succession to
Business
	 	 	46	 
	Section 613. Preferential Collection of Claims Against Company
	 	 	46	 
	Section 614. Appointment of Authenticating Agent
	 	 	47	 
	 
	 	 	 	 
	ARTICLE VII
	 	 	 	 
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	 	 	49	 
	Section 701. Company to Furnish Trustee Names and Addresses of
Holders
	 	 	49	 
	Section 702. Preservation of Information; Communications to
Holders
	 	 	50	 
	Section 703. Reports by Trustee
	 	 	51	 
	Section 704. Reports by Company
	 	 	51	 
	 
	 	 	 	 
	ARTICLE VIII
	 	 	 	 
	CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER
	 	 	52	 
	Section 801. Company May Consolidate, Etc. Only on Certain
Terms
	 	 	52	 
	Section 802. Successor Corporation Substituted
	 	 	53	 
	 
	 	 	 	 
	ARTICLE IX
	 	 	 	 
	SUPPLEMENTAL INDENTURES
	 	 	53	 
	Section 901. Supplemental Indentures Without Consent of Holders
	 	 	53	 
	Section 902. Supplemental Indentures With Consent of Holders
	 	 	55	 
	Section 903. Execution of Supplemental Indentures
	 	 	56	 
	Section 904. Effect of Supplemental Indentures
	 	 	57	 
	Section 905. Conformity With Trust Indenture Act
	 	 	57	 
	Section 906. Reference in Securities to Supplemental Indentures
	 	 	57	 
	Section 907. Revocation and Effect of Consents
	 	 	57	 
	Section 908. Modification Without Supplemental Indenture
	 	 	58	 
	 
	 	 	 	 
	ARTICLE X
	 	 	 	 
	COVENANTS
	 	 	58	 
	Section 1001. Payment of Principal, Premium and Interest
	 	 	58	 
	Section 1002. Maintenance of Office or Agency
	 	 	59	 
	Section 1003. Money for Securities Payments to Be Held in Trust
	 	 	60	 
	Section 1004. Corporate Existence
	 	 	61	 
	Section 1005. Defeasance of Certain Obligations
	 	 	61	 
	Section 1006. Statement by Officers as to Default
	 	 	63	 
	Section 1007. Waiver of Certain Covenants
	 	 	63	 

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	 	 	Page
	ARTICLE XI
	 	 	 	 
	REDEMPTION OF SECURITIES
	 	 	64	 
	Section 1101. Applicability of Article
	 	 	64	 
	Section 1102. Election to Redeem; Notice to Trustee
	 	 	64	 
	Section 1103. Selection by Trustee of Securities to Be Redeemed
	 	 	64	 
	Section 1104. Notice of Redemption
	 	 	65	 
	Section 1105. Securities Payable on Redemption Date
	 	 	66	 
	Section 1106. Securities Redeemed in Part
	 	 	67	 
	 
	 	 	 	 
	ARTICLE XII
	 	 	 	 
	SINKING FUNDS
	 	 	67	 
	Section 1201. Applicability of Article
	 	 	67	 
	Section 1202. Satisfaction of Sinking Fund Payments With Securities
	 	 	67	 
	Section 1203. Redemption of Securities for Sinking Fund
	 	 	68	 
	 
	 	 	 	 
	ARTICLE XIII
	 	 	 	 
	REPAYMENT OF SECURITIES AT OPTION OF HOLDERS
	 	 	68	 
	Section 1301. Applicability of Article
	 	 	68	 
	Section 1302. Notice of Repayment Date
	 	 	68	 
	Section 1303. Securities Payable on Repayment Date
	 	 	70	 
	Section 1304. Securities Repaid in Part
	 	 	70	 

iv

 

     INDENTURE, dated as of                     , 20___, between LODGENET INTERACTIVE CORPORATION, a
corporation duly organized and existing under the laws of the State of Delaware (herein called the
“Company”), having its principal office at 3900 West Innovation Street, Sioux Falls, South Dakota
57107 and [     ] (herein called the “Trustee”).

RECITALS OF THE COMPANY

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of its unsecured debentures, notes or other evidences of
indebtedness (each herein called a “Security” or collectively the “Securities”), in an unlimited
aggregate principal amount to be issued in one or more series as in this Indenture provided.

     All things necessary to make this Indenture a valid agreement of the Company, in accordance
with its terms, have been done.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE I

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

     Section 101. Definitions. For all purposes of this Indenture, except as otherwise expressly
provided or unless the context otherwise requires;

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

     (2) all other terms used herein which are defined in the Trust Indenture Act, either
directly or by reference therein, have the meanings assigned to them therein;

     (3) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with generally accepted accounting principles, and, except as otherwise
herein expressly provided, the term “generally accepted accounting principles” with respect
to any computation required or permitted hereunder shall mean such accounting principles as
are generally accepted in the United States at the date of such computation or, at the
election of the Company from time to time, at the date of the execution and delivery of this
Indenture;

1

 

     (4) the word “or” is not exclusive; and

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

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

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

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

     “Authenticating Agent” means any Person authorized by the Trustee to act on behalf of the
Trustee to authenticate Securities.

     “Authorized Newspaper” means a newspaper of general circulation, in an official language of
the country of publication or in the English language, customarily published on a daily basis
(including newspapers published on a daily basis except not published on Legal Holidays, as defined
in Section 113) in such country. Whenever successive weekly publications in an Authorized Newspaper
are required hereunder, they may be made (unless otherwise expressly provided herein) on the same
or different days of the week and in the same or different Authorized Newspapers.

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

     “Board of Directors” means either the board of directors of the Company or any duly authorized
committee of that board.

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

     “Business Day”, when used with respect to any Place of Payment, means each Monday, Tuesday,
Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of
Payment or the city in which the Corporate Trust Office of the Trustee is located, are authorized
or obligated by law to close, except as may be otherwise specified as contemplated by Section 301.

2

 

     “Code” means the Internal Revenue Code of 1986, as amended.

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

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

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

     “Corporate Trust Office” means the principal office of the Trustee at which at any particular
time its corporate trust business shall be administered and, with respect to [     ], shall be
located in [     ].

     The term “corporation” includes corporations, associations, companies and business trusts.

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

     “Depository” means, with respect to any series of Securities issuable or issued in the form of
a Global Security, an entity named as such in the Indenture, or, if no entity is so named, an
entity, if any, named by the Company as such by Board Resolution, or its successor. The Depository
is the entity which holds a Global Security, if any, and operates the computerized book-entry
system through which ownership interests in the Securities are recorded. Such entity shall at all
times be a registered clearing agency under the Securities Exchange Act of 1934, as amended, and in
good standing thereunder or, in the case of an entity which holds a Global Security issued outside
of the United States, such entity shall at all times be in compliance with any applicable
registration requirements and in good standing under application regulations.

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

     “Eligible Obligations” means:

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

     (b) with respect to Securities denominated in a currency other than Dollars or in a
composite currency, such other obligations or instruments as shall be specified with respect
to such Securities, as contemplated by Section 301(24).

     “Event of Default” has the meaning specified in Section 501.

3

 

     “Global Security” means a Security, if any, issued to evidence all or a part of a series of
Securities in accordance with Section 301.

     “Holder” means the bearer of an Unregistered Security or coupon appertaining thereto or a
Person in whose name a Registered Security is registered in the Security Register or the Person who
is the record owner of any ownership interests in a Global Security.

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

     “Indexed Security” means a Security the terms of which provide that the principal amount
thereof payable at Stated Maturity may be more or less than the principal face amount thereof at
original issuance.

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

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

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

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

     “Opinion of Counsel” means a written opinion of counsel, who may be an employee of, or counsel
for, the Company or an Affiliate of the Company, and who shall be acceptable to the Trustee.

     “Original Issue Discount Security” means any Security that provides for an amount less than
the principal amount thereof to be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 502.

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

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

     (b) Securities or portions thereof for whose payment or redemption (a) money in the
necessary amount has been theretofore deposited with the Trustee or any Paying

4

 

Agent (other than the Company) in trust or set aside and segregated in trust by the
Company (if the Company shall act as its own Paying Agent) for the Holders of such
Securities or (b) Eligible Obligations as contemplated by Sections 401 and 403 in the
necessary amount have been theretofore deposited with the Trustee, in trust, for the Holders
of such Securities (whether or not the Company’s indebtedness in respect thereof shall be
satisfied and discharged for purposes of this Indenture or otherwise), provided that, if
such Securities are to be redeemed, notice of such redemption has been duly given pursuant
to this Indenture or provision therefor satisfactory to the Trustee has been made; and

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

provided, however, that in determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given any request, demand, authorization, direction, notice, consent or
waiver hereunder, Securities owned by the Company or any other obligor upon the Securities or any
Affiliate of the Company or of such other obligor (unless the Company, such Affiliate or such
obligor owns (i) all Securities Outstanding under this Indenture or (ii) except for the purposes of
actions to be taken by Holders of (A) more than one series voting as a class under Section 512 or
(B) more than one series or more than one Tranche, as the case may be, voting as a class under
Section 902, all Outstanding Securities of each such series and each such Tranche, as the case may
be, determined without regard to this clause) shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any
such request, demand, authorization, direction, notice, consent or waiver, only Securities which
the Trustee knows to be so owned shall be so disregarded. Securities so owned which have been
pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction
of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee
is not the Company or any other obligor upon the Securities or any Affiliate of the Company or of
such other obligor. In determining whether the Holders of the requisite principal amount of
Securities of any series or Tranche have concurred in any direction, waiver or consent, the
principal amount of Original Issue Discount Securities that shall be deemed to be outstanding shall
be the amount of the principal thereof that would be due and payable as of the date of such
determination upon acceleration of the maturity thereof pursuant to Section 502. In the case of any
Security the principal of which is payable from time to time without presentment or surrender, the
principal amount of such Security that shall be deemed to be Outstanding at any time for all
purposes of this Indenture shall be the original principal amount thereof less the aggregate amount
of principal thereof theretofore paid.

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

5

 

     “Periodic Offering” means an offering of Securities of a series from time to time any or all
of the specific terms of which Securities, including without limitation the rate or rates of
interest, if any, thereon, the Stated Maturity or Maturities thereof and the redemption provisions,
if any, with respect thereto, are to be determined by the Company or its agents from time to time
subsequent to the initial request for the authentication and delivery of such Securities by the
Trustee, all as contemplated in Section 301 and clause (2) of Section 303.

     “Person” means any individual, corporation, partnership, limited liability partnership, joint
venture, association, joint-stock company, trust, unincorporated organization or government or any
agency or political subdivision thereof.

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

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

     “Redemption Date”, when used with respect to any Security to be redeemed, means the date fixed
for such redemption by or pursuant to Section 301 of this Indenture.

     “Redemption Price”, when used with respect to any Security to be redeemed, means the price at
which it is to be redeemed pursuant to this Indenture, exclusive of accrued and unpaid interest, if
any.

     “Registered Security” means any Security issued hereunder and registered by the Security
Registrar or any recorded interest in a Global Security issued hereunder.

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

     “Repayment Date”, when used with respect to any Security of any series to be repaid or
repurchased, means the date, if any, fixed for such repayment or for such repurchase (whether at
the option of the Holders or otherwise) pursuant to Section 301 of this Indenture.

     “Repayment Price”, when used with respect to any Security of any series to be repaid, means
the price, if any, at which it is to be repaid pursuant to Section 301.

     “Responsible Officer”, when used with respect to the Trustee, means any officer within the
[Corporate Trust and Agency Group] or any other successor group of the Trustee, including any vice
president, assistant vice president, assistant secretary or any other officer of the Trustee

6

 

customarily performing functions similar to those performed by any of the above designated
officers.

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

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

     “Senior Securities” means Securities other than Subordinated Securities.

     The term “series” or “series of Securities” means a series of Securities issued under this
Indenture as determined by Board Resolution or as otherwise determined under this Indenture, and
except as otherwise provided in Section 608.

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

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

     “Subordinated Securities” means Securities that by the terms established pursuant to
Subsection 301(10) are subordinate to any specified debt of the Company.

     “Subsidiary” means (1) any corporation, association or other business entity of which more
than 50% of the outstanding total voting power of shares of Capital Stock entitled (without regard
to the occurrence of any contingency) to vote in the election of directors, managers or trustees
thereof is at the time owned or controlled, directly or indirectly, by the Company or by one or
more other Subsidiaries, or by the Company and one or more other Subsidiaries or (2) any
partnership the sole general partner or the managing general partner of which is the Company or a
Subsidiary of the Company or the only general partners of which are the Company or of one or more
Subsidiaries of the Company (or any combination thereof). For the purposes of this definition,
“voting stock” means, in the case of a corporation, stock which ordinarily has voting power for the
election of directors, whether at all times or only so long as no senior class of stock has such
voting power by reason of any contingency, in the case of an association or business entity, any
and all shares, interests, participations, rights or other equivalents (however designated) of
corporate stock, in the case of a partnership or limited liability company, partnership or
membership interests (whether general or limited), and any other interest or participation that
confers on a Person the right to receive a share of the profits and losses of, or distributions of
assets of, the issuing Person.

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

7

 

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

     “Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of
which this instrument was executed, except as provided in Section 905.

     “U.S. Government Obligations” means (a) direct obligations of the United States for the
payment of which its full faith and credit is pledged, or obligations of a Person controlled or
supervised by and acting as an agency or instrumentality of the United States and the payment of
which is unconditionally guaranteed by the United States and (b) certificates, depositary receipts
or other instruments which evidence a direct ownership interest in obligations described in
clause (a) above or in any specific interest or principal payments due in respect thereof;
provided, however, that the custodian of such obligations or specific interest or principal
payments shall be a bank or trust company (which may include the Trustee or any Paying Agent)
subject to Federal or State supervision or examination with a combined capital and surplus of at
least $50,000,000; and provided, further, that except as may be otherwise required by law, such
custodian shall be obligated to pay to the holders of such certificates, depositary receipts or
other instruments the full amount received by such custodian in respect of such obligations or
specific payments and shall not be permitted to make any deduction therefrom.

     “U.S. Person” means a citizen, national or resident of the United States, a corporation,
partnership or other entity created or organized in or under the laws of the United States or any
political subdivision thereof, or an estate or trust whose income from sources without the United
States is includible in gross income for United States Federal income tax purposes regardless of
its connection with the conduct of a trade or business within the United States.

     “Unregistered Security” means any Security issued hereunder which is not a Registered
Security.

     “Vice President”, when used with respect to the Company or the Trustee, means any vice
president, whether or not designated by a number or a word or words added before or after the title
“vice president”.

     “Yield to Maturity” means the yield to maturity, calculated by the Company at the time of
issuance of a series of Securities or, if applicable, at the most recent determination of interest
on such series in accordance with accepted financial practice.

     Section 102. Compliance Certificates and Opinions. Upon any application or request by
the Company to the Trustee to take any action under any provision of this Indenture, the Company
shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent, if
any, provided for in this Indenture relating to the proposed action have been met and an Opinion of
Counsel stating that in the opinion of such counsel all such conditions

8

 

precedent, if any, have been met, except that in the case of any such application or request
as to which the furnishing of such documents is specifically required by any provision of this
Indenture relating to such particular application or request, no additional certificate or opinion
need be furnished.

     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than certificates provided pursuant to Section 704(4)) shall include:

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

     (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 each such individual, he has made such
examination or investigation as is necessary to enable him to express an informed opinion as
to whether or not such covenant or condition has been met; and

     (4) a statement as to whether, in the opinion of each such individual, such condition
or covenant has been met.

     Section 103. Form of Documents Delivered to Trustee. In any case where several matters are
required to be certified by, or covered by an opinion of, any specified Person, it is not necessary
that all such matters be certified by, or covered by the opinion of, only one such Person, or that
they be so certified or covered by only one document, but one such Person may certify or give an
opinion with respect to some matters and one or more other such Persons as to other matters, and
any such Person may certify or give an opinion as to such matters in one or several documents.

     Any certificate or opinion of an officer of the Company may be based, insofar as it relates to
legal matters, upon an Opinion of Counsel. Any such Opinion of Counsel may be based, insofar as it
relates to factual matters, upon a certificate or opinion of, or representations by, an officer or
officers of the Company stating that the information with respect to such factual matters is in the
possession of the Company.

     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.

     Section 104. Acts of Holders. (a) Any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Indenture to be given or taken by Holders may be
embodied in and evidenced by one or more instruments of substantially similar tenor signed by such
Holders in person or by an agent duly appointed in writing; and, except as herein otherwise
expressly provided, such action shall become effective when such instrument or

9

 

instruments are delivered to the Trustee and, where it is hereby expressly required, to the
Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are
herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments.
Proof of execution of any such instrument or of a writing appointing any such agent, or of the
holding by any Person of Unregistered Securities, shall be sufficient for any purpose of this
Indenture and (subject to Section 601) conclusive in favor of the Trustee and the Company, if made
in the manner provided in this Section.

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

     (c) The amount of Unregistered Securities held by any Person executing any such instrument or
writings as the Holder thereof, and the numbers of such Unregistered Securities, and the date of
his holding the same, may be proved by the production of such Unregistered Securities or by a
certificate executed, as depositary, by any trust company, bank, banker or member of a national
securities exchange (wherever situated), if such certificate is in form satisfactory to the
Trustee, showing that at the date therein mentioned such Person had on deposit with such
depositary, or exhibited to it, the Unregistered Securities therein described; or such facts may be
proved by the certificate or affidavit of the Person executing such instrument or writing as the
Holder thereof, if such certificate or affidavit is in form satisfactory to the Trustee. The
Trustee and the Company may assume that such ownership of any Unregistered Securities continues
until (1) another certificate bearing a later date issued in respect of the same Unregistered
Securities is produced, or (2) such Unregistered Securities are produced by some other Person, or
(3) such Unregistered Securities are registered as to principal or are surrendered in exchange for
Unregistered Securities, or (4) such Unregistered Securities are no longer Outstanding.

     (d) The fact and date of execution of any such instrument or writing and the amount and
number of Unregistered Securities held by the Person so executing such instrument or writing may
also be proved in any other manner which the Trustee deems sufficient; and the Trustee may in any
instance require further proof with respect to any of the matters referred to in this Section.

     (e) The ownership of Registered Securities shall be proved by the Security Register.

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

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     (g) The Company may set a record date for purposes of determining the identity of Holders of
any Securities of any series entitled to vote or consent to any action by vote or consent
authorized or permitted by Section 512 or 513. Such record date shall be the later of 30 days prior
to the first solicitation of such consent or the date of the most recent list of Holders of such
Securities furnished to the Trustee pursuant to Section 701 prior to such solicitation.

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

     Section 105. Notices, Etc. to Trustee and Company. Except as otherwise provided herein, any
request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other
document provided or permitted by this Indenture to be made upon, given or furnished to, or filed
with,

     (1) the Trustee by any Holder or by the Company shall be sufficient for every purpose
hereunder if made, given, furnished or filed in writing to or with the Trustee at its
Corporate Trust Office, Attention: [     ], [     ], or

     (2) the Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class
postage prepaid, to the Company addressed to it at the address of its principal office
specified in the first paragraph of this instrument or at any other address previously
furnished in writing to the Trustee by the Company.

     Section 106. Notice to Holders; Waiver. Where this Indenture provides for notice of any
event or reports to Holders, such notice or report shall be sufficiently given (unless otherwise
herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder of
Registered Securities affected by such event, at his address as it appears in the Security Register
and to addresses filed with the Trustee or preserved on the Trustee’s list pursuant to
Section 702(a) for other Holders (and to such other addressees as may be required in the case of
such notice or report under Section 313(c) of the Trust Indenture Act), not later than the latest
date, and not earlier than the earliest date, prescribed for the giving of such notice or report.
In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor
any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such
notice with respect to other Holders. Notice shall be sufficiently given to Holders of Unregistered
Securities if published in an Authorized Newspaper in each of The City of New York and, if such
Securities are listed on any stock exchange outside of the United States, in the city in which

11

 

such stock exchange is located, or in such other city or cities as may be specified in the
Securities, once in each of two different calendar weeks, the first publication to be not earlier
than the earliest date, and not later than the last date, if any, prescribed for the giving of such
notice. Where this Indenture provides for notice in any manner, such notice may be waived in
writing by the Person entitled to receive such notice, either before or after the event, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver.

     In case by reason of the suspension of regular mail service or by reason of any other cause it
shall be impracticable to give such notice by mail, then such notification as shall be made with
the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

     If it shall be impractical in the opinion of the Trustee or the Company to make any
publication of any notice required hereby in an Authorized Newspaper, any publication or other
notice in lieu thereof which is made or given with the approval of the Trustee shall constitute a
sufficient publication of such notice.

     Section 107. Conflict With Trust Indenture Act. If any provision hereof limits, qualifies or
conflicts with the duties imposed by operation of subsection (c) of Section 318 of the Trust
Indenture Act, the imposed duties shall control.

     Section 108. Effect of Headings and Table of Contents. The Article and Section headings
herein and the Table of Contents are for convenience only and shall not affect the construction
hereof.

     Section 109. Successors and Assigns. All covenants and agreements in this Indenture by the
Company shall bind its successors and assigns, whether so expressed or not.

     Section 110. Separability Clause. In case any provision in this Indenture or in the
Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

     Section 111. Benefits of Indenture. Nothing in this Indenture or in the Securities, express
or implied, shall give to any Person, other than the parties hereto (including any Paying Agent
appointed pursuant to Section 1002 and Authenticating Agent appointed pursuant to Section 614 to
the extent provided herein) and their successors hereunder and the Holders, any benefit or any
legal or equitable right, remedy or claim under this Indenture.

     Section 112. Governing Law. This Indenture and the Securities shall be governed by and
construed in accordance with the laws of the State of New York.

     Section 113. Legal Holidays. In any case where any Interest Payment Date, Redemption Date,
Repayment Date or Stated Maturity of any Security shall not be a Business Day at any Place of
Payment or the city in which the Corporate Trust Office of the Trustee is located, then

12

 

(notwithstanding any other provision of this Indenture or of the Securities) payment of interest or
principal (and premium, if any) need not be made at such Place of Payment on such date, but may be
made on the next succeeding Business Day at such Place of Payment with the same force and effect as
if made on the Interest Payment Date or Redemption Date, Repayment Date, or at the Stated Maturity,
provided that no interest shall accrue with respect to such payment for the period from and after
such Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity, as the case may be.

     Section 114. Rules by Trustee and Agents. The Trustee may make reasonable rules for action
by or at a meeting of Holders of one or more series. The Paying Agent or Security Registrar may
make reasonable rules and set reasonable requirements for its functions.

     Section 115. No Recourse Against Others. No past, present or future director, officer,
stockholder or employee, as such, of the Company or any successor corporation shall have any
liability for any obligation of the Company under the Securities or the Indenture or for any claim
based on, in respect of or by reason of such obligations or their creation. Each Holder by
accepting a Security waives and releases all such liability. The waiver and release are part of the
consideration for the issue of the Securities.

ARTICLE II

SECURITY FORMS

     Section 201. Forms Generally. The Securities of each series and related coupons, if any,
shall be in substantially the form as shall be established by or pursuant to a Board Resolution or
in one or more indentures supplemental hereto, in each case with such appropriate insertions,
omissions, substitutions and other variations as are required or permitted by this Indenture and as
reasonably acceptable to the Trustee, and may have such letters, numbers or other marks of
identification and such legends or endorsements placed thereon as may be required to comply with
the rules of any securities exchange or as may, consistently herewith, be determined by the
officers executing such Securities, as evidenced by their execution of the Securities. When the
form of Securities of any series is established by action taken pursuant to a Board Resolution, a
copy of an appropriate record of such action shall be certified by the Secretary or an Assistant
Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company
Order contemplated by Section 303 for the authentication and delivery of such Securities.

     If required or appropriate under applicable law, Unregistered Securities and their coupons
must have the following statement on their face: “Any United States person who holds this
obligation will be subject to limitations under the United States income tax laws, including the
limitations provided in Sections 165(j) and 1287(a) of the Internal Revenue Code”. If required or
appropriate under applicable law, Unregistered Securities and their coupons must have the following
statement on their face: “By accepting this obligation, the Holder represents and warrants that it
is not a United States person (other than an exempt recipient described in section 6049(b)(4) of
the Internal Revenue Code and the regulations thereunder) and that it is not

13

 

acting for or on behalf of a United States person (other than an exempt recipient described in
section 6049(b)(4) of the Internal Revenue Code and the regulations thereunder).”

     The definitive Securities shall be printed, lithographed or engraved on steel engraved borders
or may be produced in any other manner or combination of manners, all as determined by the officers
executing such Securities, as evidenced by their execution of such Securities.

     Section 202. Form of Trustee’s Certificate of Authentication. The Trustee’s certificate of
authentication shall be in substantially the following form:

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

	 	 	 	 	 
	 	

[               ]

as Trustee

 	 
	 	By  	 	 
	 	 	Authorized Officer 	 
	 	 	 	 
	 

ARTICLE III

THE SECURITIES

     Section 301. Amount Unlimited; Issuable in Series. The aggregate principal amount of
Securities which may be authenticated and delivered under this Indenture is unlimited.

     The Securities may be issued in one or more series. There may be Registered Securities and
Unregistered Securities within a series. Registered and Unregistered Securities may be in temporary
or permanent global form. Unregistered Securities may be issued with or without coupons attached.
Unregistered Securities may be subject to such restrictions, and contain such legends, as may be
required by United States laws and regulations. Subject to the last paragraph of this Section,
there shall be established in or pursuant to a Board Resolution, and set forth in an Officer’s
Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of
Securities of any series,

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

     (2) any limit upon the aggregate principal amount of the Securities of the series
which may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu
of, other Securities of the series pursuant to Section 304, 305, 306, 906, 1106 or 1304 and
except for any Securities that, pursuant to Section 303, are deemed never to have been
authenticated and delivered hereunder);

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     (3) the price or prices (expressed as a percentage of the principal amount thereof) at
which the securities will be issued and the date or dates on which the principal (and
premium, if any) of the Securities of the series, or any Tranche thereof, is payable;

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

     (5) the rate or rates at which the Securities of such series, or any Tranche thereof,
shall bear interest, if any (including the rate or rates at which overdue principal shall
bear interest, if different from the rate or rates at which such Securities shall bear
interest prior to Maturity, and, if applicable, the rate or rates at which overdue premium
or interest shall bear interest, if any), or any formula or other method or other means by
which such rate or rates shall be determined, by reference to an index or other fact or
event ascertainable outside of this Indenture or otherwise; the date or dates from which
such interest shall accrue; the Interest Payment Dates on which such interest shall be
payable and the Regular Record Date, if any, for the interest payable on such Securities on
any Interest Payment Date; the right of the Company, if any, to extend the interest payment
periods and the duration of any such extension as contemplated by Section 312; and the basis
of computation of interest, if other than as provided in Section 310;

     (6) the place or places where the principal of (and premium, if any) and interest, if
any, on Securities of the series, or any Tranche thereof, shall be payable, any Registered
Securities of the series, or any Tranche thereof, may be surrendered for registration of
transfer, Securities of the series, or any Tranche thereof, may be surrendered for exchange,
and where notices and demands to or upon the Company in respect of the Securities of the
series, or any Tranche thereof, and this Indenture may be served and notices to Holders
pursuant to Section 106 will be published; the Security Registrar and any Paying Agent or
Agents for such series or Tranche; and if such is the case, that the principal of such
Securities shall be payable without presentment or surrender thereof;

     (7) if applicable, the period or periods within which, the price or prices at which
and the terms and conditions upon which Securities of the series, or any Tranche thereof,
may be redeemed, in whole or in part, at the option of the Company;

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

     (9) the obligation, if any, of the Company to offer to repay or repurchase Securities
of the series, or any Tranche thereof, in circumstances described therein, and

15

 

the period or periods within which, the price or prices at which and the terms and
conditions upon which Securities of the series, or any Tranche thereof, shall be repaid or
repurchased, in whole or in part, at the option of the Holders;

     (10) the terms, if any, on which the Securities of such series will be subordinate in
right and priority of payment to other debt of the Company;

     (11) the right, if any, of the Company to execute and deliver to the Trustee, and to
direct the Trustee to authenticate and deliver in accordance with a Company Order, a
Security of any series, or any Tranche thereof, in lieu of or in exchange for any Securities
of such series, or any Tranche thereof, cancelled upon redemption or repayment;

     (12) the denominations in which any Registered Securities of the series, or any
Tranche thereof, shall be issuable, if other than denominations of $1,000 and any integral
multiple thereof, and the denomination or denominations in which any Unregistered Securities
of the series, or any Tranche thereof, shall be issuable, if other than the denomination of
$5,000;

     (13) if other than the principal amount thereof, the portion of the principal amount
of Securities of the series, or any Tranche thereof, that shall be payable upon declaration
of acceleration of the Maturity thereof pursuant to Section 502;

     (14) whether Securities of the series are to be issuable as Registered Securities,
Unregistered Securities, or both, whether Securities of the series are to be issuable with
or without coupons, whether any Securities of the series are to be issuable initially in
temporary global form and the circumstances under which such Securities in temporary global
form may be exchanged for definitive Securities, and whether any Securities of the series
are to be issuable in permanent global form with or without coupons and, if so, whether
beneficial owners of interests in any such permanent Global Security may exchange such
interests for Securities of such series and of like tenor of any authorized form and
denomination and the circumstances under which any such exchanges may occur, if other than
in the manner provided in Section 311;

     (15) whether and under what circumstances the Company will pay additional amounts on
the Securities of that series held by a person who is not a U.S. Person in respect of taxes
or similar charges withheld or deducted and, if so, whether the Company will have the option
to redeem such Securities rather than pay such additional amounts;

     (16) the currency or currencies, including composite currencies, in which payment of
the principal of (and premium, if any) and interest, if any, on the Securities of the
series, or any Tranche thereof, shall be payable (if other than the currency of the United
States of America) and the formula or other method or other means by which the equivalent of
any such amount in Dollars is to be determined for any purpose, including for the purpose of
determining the principal amount of such Securities deemed to be Outstanding at any time;

16

 

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

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

     (19) if the amount of payments of principal of (and premium, if any) or interest on
the Securities of the series may be determined with reference to an index or other fact or
event ascertainable outside of this Indenture, the manner in which such amounts shall be
determined to the extent not established pursuant to paragraph (5) of this Section;

     (20) the form or forms of the Securities, including such legends as may be required by
United States laws or regulations, the form of any coupons or temporary Global Security, if
any, which may be issued and the forms of any certificates which may be required hereunder
or under United States laws or regulations in connection with the offering, sale, delivery
or exchange of Unregistered Securities, if any;

     (21) the Person to whom any interest on any Registered Security of the series, or any
Tranche thereof, shall be payable, if other than the Person in whose name that Security is
registered at the close of business on the regular record date for such interest, and the
manner in which, or the Person to whom, any interest on any Unregistered Security of the
series, or any Tranche thereof, shall be payable, if otherwise than upon presentation and
surrender of the coupons appertaining thereto as they severally mature, and the extent to
which, or the manner in which, any interest payable on a temporary or permanent Global
Security on an interest payment date will be paid;

     (22) any Events of Default, in addition to those specified in Section 501, with
respect to the Securities of such series, and any covenants of the Company for the benefit
of the Holders of the Securities of such series, or any Tranche thereof, in addition to
those set forth in Article X;

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

     (24) the obligations or instruments, if any, that shall be considered to be Eligible
Obligations in respect of the Securities of such series, or any Tranche thereof, denominated
in a currency other than Dollars or in a composite currency, and any additional or
alternative provisions for the reinstatement of the Company’s indebtedness

17

 

in respect of such Securities after the satisfaction and discharge thereof as provided
in Section 401;

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

     (26) any collateral security, assurance or guarantee for the Securities of such
series;

     (27) the non-applicability of Section 608 to the Securities of such series or any
exceptions or modifications of Section 608 with respect to the Securities of such series;

     (28) any rights or duties of another Person to assume the obligations of the Company
with respect to the Securities of such series (whether as joint obligor, primary obligor,
secondary obligor or substitute obligor) and any rights or duties to discharge and release
any obligor with respect to the Securities of such series or this Indenture to the extent
related to such series; and

     (29) any other terms, conditions and rights of the series (which terms, conditions and
rights shall not be inconsistent with the provisions of this Indenture, except as permitted
by Section 901(5)).

     All Securities of any one series and the coupons appertaining to any Unregistered Securities
of such series shall be substantially identical except in the case of Registered Securities as to
denomination and except as may otherwise be provided in or pursuant to such Board Resolution and
set forth in such Officer’s Certificate or in any such indenture supplemental hereto and as
reasonably acceptable to the Trustee. Securities of different series may differ in any respect.

     If the terms and form or forms of any series of Securities are established by or pursuant to a
Board Resolution, the Company shall deliver a copy of such Board Resolution to the Trustee at or
prior to the issuance of such series with (1) the form or forms of Security that have been approved
attached thereto, or (2) if such Board Resolution authorizes a specific officer or officers to
approve the terms and form or forms of the Securities, a certificate of such officer or officers
approving the terms and form or forms of Security with such form or forms of Securities attached
thereto. Such Board Resolution or certificate may provide general terms or parameters for
Securities of any series and may provide that the specific terms of particular Securities of a
series may be determined in accordance with or pursuant to the Company Order referred to in
Section 303 hereof.

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

18

 

accordance with procedures specified in a Company Order as contemplated by the third paragraph of
Section 303.

     Unless otherwise specified with respect to a series of Securities pursuant to paragraph (2) of
this Section, any limit upon the aggregate principal amount of a series of Securities may be
increased without the consent of any Holders and additional Securities of such series may be
authenticated and delivered up to the limit upon the aggregate principal amount authorized with
respect to such series as so increased.

     Section 302. Denominations. The Securities of each series shall be issuable in registered or
unregistered form with or without coupons in such denominations as shall be specified as
contemplated by Section 301. In the absence of any such provisions with respect to the Securities
of any series, the Registered Securities of such series shall be issuable in denominations of
$1,000 and any integral multiple thereof and the Unregistered Securities of the series shall be
issuable in denominations of $5,000 and any integral multiple thereof.

     Section 303. Execution, Authentication, Delivery and Dating. The Securities shall be
executed on behalf of the Company by its Chief Executive Officer, its President, its Senior Vice
President, Chief Financial Officer, or its Treasurer, under its corporate seal reproduced thereon
attested by its Secretary or one of its Assistant Secretaries. The signature of any of these
officers on the Securities may be manual or facsimile. The coupons, if any, of Unregistered
Securities shall bear the manual or facsimile signature of any one of the officers or assistant
officers referred to in the first sentence of this Section.

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

     At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities of any series executed by the Company to the Trustee for
authentication, together with a Company Order for the authentication and delivery of such
Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver
such Securities. In authenticating such Securities, and accepting the additional responsibilities
under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and
(subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating:

     (a) that such form of Securities has been established in conformity with the
provisions of this Indenture;

     (b) that such terms have been established in conformity with the provisions of this
Indenture; and

     (c) that such Securities, when authenticated and delivered by the Trustee and issued
by the Company in the manner and subject to any conditions specified in such Opinion of
Counsel, will constitute valid and legally binding obligations of the Company,

19

 

enforceable in accordance with their terms, subject to bankruptcy, insolvency,
reorganization and other laws of general applicability relating to or affecting the
enforcement of creditors’ rights and to general equity principles.

     Notwithstanding the provisions of Section 301 and of the preceding paragraphs, if all
Securities of a series are not to be originally issued at one time, it shall not be necessary to
deliver the Officer’s Certificate otherwise required pursuant to Section 301 or the Company Order
and Opinion of Counsel otherwise required pursuant to such preceding paragraphs at or prior to the
time of authentication of each Security of such series if such documents are delivered at or prior
to the authentication upon original issuance of the first Security of such series to be issued. If
such form or terms have been so established, the Trustee shall not be required to authenticate such
Securities if the issuance of such Securities pursuant to this Indenture will affect the Trustee’s
own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner
which is not reasonably acceptable to the Trustee.

     Each Registered Security shall be dated the date of its authentication and each Unregistered
Security shall be dated the date of its original issuance.

     No Security shall be entitled to any benefit under this Indenture or be valid or obligatory
for any purpose unless there appears on such Security a certificate of authentication substantially
in the form provided for herein executed by the Trustee by manual signature and no coupon shall be
valid until the Security to which it appertains has been so authenticated, and such certificate
upon any Security shall be conclusive evidence, and the only evidence, that such Security has been
duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture.

     Notwithstanding the foregoing, until the Company has delivered an Officer’s Certificate to the
Trustee and the Security Registrar stating that, as a result of the action described, the Company
would not suffer adverse consequences under the provisions of United States law or regulations in
effect at the time of the delivery of Unregistered Securities, the Trustee or the Security
Registrar will (i) deliver Unregistered Securities only outside the United States and its
possessions and (ii) release Unregistered Securities in definitive form to the person entitled to
physical delivery thereof only upon presentation of a certificate in the form prescribed by the
Company.

     Section 304. Temporary Securities. Pending the preparation of definitive Registered
Securities of any series (including Global Securities), the Company may execute, and upon Company
Order the Trustee shall authenticate and deliver, temporary Registered Securities which are
printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Registered Securities in lieu of which
they are issued and with such appropriate insertions, omissions, substitutions and other variations
as the officers executing such Securities may determine, as evidenced by their execution of such
Securities. Every temporary Registered Security shall be executed by the Company and authenticated
by the Trustee, and registered by the Security Registrar, upon the same conditions, and with like
effect, as a definitive Registered Security.

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     If temporary Securities of any series are issued, the Company will cause definitive Registered
Securities of that series to be prepared without unreasonable delay. After the preparation of
definitive Registered Securities of such series, the temporary Registered Securities of such series
shall be exchangeable for definitive Registered Securities of such series upon surrender of the
temporary Registered Securities of such series at the office or agency of the Company in a Place of
Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one
or more temporary Registered Securities of any series the Company shall execute and the Trustee
shall authenticate and deliver in exchange therefor a like principal amount of definitive
Registered Securities of the same series of authorized denominations. Until so exchanged the
temporary Registered Securities of any series shall in all respects be entitled to the same
benefits under this Indenture as definitive Registered Securities of such series.

     Until definitive Unregistered Securities of any series (including Global Securities) are ready
for delivery, the Company may prepare and execute and the Trustee shall authenticate one or more
temporary Unregistered Securities, which may have coupons attached or which may be in the form of
one or more temporary Global Unregistered Securities of that series without coupons. The temporary
Unregistered Security or Securities of any series shall be substantially in the form approved by or
pursuant to a Board Resolution and shall be delivered to one of the Paying Agents located outside
the United States and its possessions or to such other person or persons as the Company shall
direct against such certification as the Company may from time to time prescribe by or pursuant to
a Board Resolution. The temporary Unregistered Security or Securities of a series shall be executed
by the Company and authenticated by the Trustee upon the same conditions, and with like effect, as
a definitive Unregistered Security of such series, except as provided herein or in the Board
Resolution or supplemental Indenture relating thereto. A temporary Unregistered Security or
Securities shall be exchangeable for definitive Unregistered Securities at the time and on the
conditions, if any, specified in the temporary Security.

     Upon any exchange of a part of a temporary Unregistered Security of a series for definitive
Unregistered Securities of such series, the temporary Unregistered Security shall be endorsed by
the Trustee or Paying Agent to reflect the reduction of its principal amount by an amount equal to
the aggregate principal amount of the definitive Unregistered Securities of such series so
exchanged and endorsed.

     Section 305. Registration, Registration of Transfer and Exchange. The Company shall cause to
be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such
office and in any other office or agency of the Company in a Place of Payment being herein
sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable
regulations as it may prescribe, the Company shall provide for the registration of Securities and
of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of
registering Securities and transfers of Securities as herein provided.

     Except in the case of Securities issued in the form of a Global Security, upon surrender for
registration of transfer of any Registered Security of any series at the office or agency of the
Company in a Place of Payment for that series, the Company shall execute, and the Trustee shall
authenticate and deliver, in the name of the designated transferee or transferees, one or more new

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Registered Securities of the same series, of any authorized denominations and of a like
aggregate principal amount.

     If both Registered and Unregistered Securities are authorized for a series of Securities and
the terms of such Securities permit, (i) Unregistered Securities may be exchanged for an equal
principal amount of Registered or Unregistered Securities of the same series and date of maturity
in any authorized denominations upon delivery to the Security Registrar (or a Paying Agent (as
herein defined), if the exchange is for Unregistered Securities) of the Unregistered Security with
all unmatured coupons and all matured coupons in default appertaining thereto and if all other
requirements of the Security Registrar (or such Paying Agent) and such Securities for such exchange
are met, and (ii) Registered Securities, other than Securities issued in the form of a Global
Security (except as provided in Section 311), may be exchanged for an equal principal amount of
Unregistered Securities of the same series and date of maturity in any authorized denominations
(except that any coupons appertaining to such Unregistered Securities which have matured and have
been paid shall be detached) upon delivery to the Security Registrar of the Registered Securities
and if all other requirements of the Security Registrar and such Securities for such exchange are
met.

     Notwithstanding the foregoing, the exchange of Unregistered Securities for Registered
Securities or Registered Securities for Unregistered Securities will be subject to the satisfaction
of the provisions of United States law and regulations in effect at the time of such exchange, and
no exchange of Registered Securities for Unregistered Securities will be made until the Company has
notified the Trustee in an Officer’s Certificate and the Security Registrar that, as a result of
such exchange, the Company would not suffer adverse consequences under such law or regulations.

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

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

     No service charge shall be made to the Holder for any registration of transfer or exchange of
Securities, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of transfer or exchange
of Securities, other than exchanges pursuant to Section 304, 306 or 1106 not involving any
transfer.

     The Company shall not be required (i) to issue, register the transfer of or exchange
Securities of any series during a period beginning at the opening of business 15 days before the
day of the mailing of a notice of redemption of Securities of that series selected for redemption
under Section 1103 and ending at the close of business on the day of such mailing, or (ii) to
register the transfer of or exchange any Security so selected for redemption in whole or in part,

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except the unredeemed portion of any Security being redeemed in part. Unregistered Securities
or any coupons appertaining thereto shall be transferable by delivery thereof.

     Section 306. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated Security or
a Security with a mutilated coupon or coupons appertaining to it is surrendered to the Trustee, the
Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a
replacement Registered Security, if such surrendered security was a Registered Security, or a
replacement Unregistered Security with coupons corresponding to the coupons appertaining to the
surrendered Security, if such surrendered Security was an Unregistered Security, of the same series
and of like tenor and principal amount and bearing a number not contemporaneously outstanding.

     If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction
of the destruction, loss or theft of any Security or any coupon or coupons appertaining thereto,
and (ii) such bond, security or indemnity as may be required by them to save each of them and any
agent of either of them harmless, then, in the absence of actual notice to the Company or the
Trustee that such Security or any coupon or coupons appertaining thereto has been acquired by a
bona fide purchaser, the Company shall execute and upon its request the Trustee shall authenticate
and deliver, a replacement Registered Security, if such Holder’s claim pertains to a Registered
Security, or a replacement Unregistered Security with coupons corresponding to the coupons
appertaining to the destroyed, lost or stolen Unregistered Security or the Unregistered Security to
which such destroyed, lost or stolen coupon or coupons appertains, if such Holder’s claim pertains
to an Unregistered Security, of the same series and of like tenor and principal amount and bearing
a number not contemporaneously outstanding.

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

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

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

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

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     Section 307. Payment of Interest; Interest Rights Preserved. Interest on any Registered
Security which is payable, and is punctually paid or duly provided for, on any Interest Payment
Date shall be paid to the Person in whose name that Registered Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date for such interest. In
case an Unregistered Security of any series is surrendered in exchange for a Registered Security of
such series after the close of business (at an office or agency of the Company in a Place of
Payment for such series) on any Regular Record Date and before the opening of business (at such
office or agency) on the next succeeding Interest Payment Date, such Unregistered Security shall be
surrendered without the coupon relating to such Interest Payment Date and interest will not be
payable on such Interest Payment Date in respect of the Registered Security issued in exchange for
such Unregistered Security, but will be payable only to the Holder of such coupon when due in
accordance with provisions of this Indenture.

     Any interest on any Registered Security of any series which is payable, but is not punctually
paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having
been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each
case, as provided in clause (1) or (2) below:

     (1) The Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Registered Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on a Special Record Date for the payment
of such Defaulted Interest, which shall be fixed in the following manner. The Company shall
notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on
each Registered Security of such series and the date of the proposed payment, and at the
same time the Company shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make
arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the Persons
entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall
fix a Special Record Date for the payment of such Defaulted Interest which shall be not more
than 15 days and not less than 10 days prior to the date of the proposed payment and not
less than 10 days after the receipt by the Trustee of the notice of the proposed payment.
The Trustee shall promptly notify the Company of such Special Record Date and, in the name
and at the expense of the Company, shall cause notice of the proposed payment of such
Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage
prepaid, to each Holder of Registered Securities of such series at his address as it appears
in the Security Register, not less than 10 days prior to such Special Record Date. Notice of
the proposed payment of such Defaulted Interest and the Special Record Date therefor having
been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the
Registered Securities of such series (or their respective Predecessor Securities) are
registered at the close of business on such Special Record Date and shall no longer be
payable pursuant to the following clause (2). In case an Unregistered Security of any series
is surrendered at the office or agency of the Company in a Place of Payment for such series
in exchange for a Registered Security of such series after the close of business at such
office or agency on

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any Special Record Date and before the opening of business at such office or agency on
the related proposed date for payment of Defaulted Interest, such Unregistered Security
shall be surrendered without the coupon relating to such proposed date of payment and
Defaulted Interest will not be payable on such proposed date of payment in respect of the
Registered Security issued in exchange for such Unregistered Security, but will be payable
only to the Holder of such coupon when due in accordance with the provisions of this
Indenture.

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

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

     Subject to the limitations set forth in Section 1002, the Holder of any coupon appertaining to
an Unregistered Security shall be entitled to receive the interest payable on such coupon upon
presentation and surrender of such coupon on or after the Interest Payment Date of such coupon at
an office or agency maintained for such purpose pursuant to Section 1002.

     Section 308. Persons Deemed Owners. Prior to due presentment of a Registered Security for
registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may
treat the Person in whose name such Registered Security is registered as the owner of such
Registered Security for the purpose of receiving payment of principal of (and premium, if any) and
(subject to Section 307) interest on such Registered Security and for all other purposes
whatsoever, whether or not such Registered Security be overdue, and neither the Company, the
Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary.

     Ownership of Registered Securities of a series shall be proved by the computerized book-entry
system of the Depository in the case of Registered Securities issued in the form of a Global
Security. Ownership of Unregistered Securities may be proved by the production of such Unregistered
Securities or by a certificate or affidavit executed by the person holding such Unregistered
Securities or by a depository with whom such Unregistered Securities were deposited, if the
certificate or affidavit is satisfactory to the Trustee and the Company. The Company, the Trustee
and any agent of the Company may treat the bearer of any Unregistered Security or coupon and the
person in whose name a Registered Security is registered as the absolute owner thereof for all
purposes.

     None of the Company, the Trustee, any Paying Agent or the Security Registrar will have any
responsibility or liability for any aspect of the records relating to or payments made on

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account of beneficial ownership interests of a Global Security or for maintaining, supervising
or reviewing any records relating to such beneficial ownership interests.

     Section 309. Cancellation. Except as otherwise specified as contemplated by Section 301 for
Securities of any series, all Securities and coupons surrendered for payment, redemption,
registration of transfer or exchange or for credit against any sinking fund payment shall, if
surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly
cancelled by it. Except as otherwise specified as contemplated by Section 301 for Securities of any
series, the Company may at any time deliver to the Trustee for cancellation any Securities or
coupons previously authenticated and delivered hereunder which the Company may have acquired in any
manner whatsoever, and all Securities or coupons so delivered shall be promptly cancelled by the
Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities or
coupons cancelled as provided in this Section, except as expressly permitted by this Indenture. All
cancelled Securities or coupons held by the Trustee shall be destroyed and the Trustee shall
furnish an affidavit to the Company (setting forth the serial numbers of such Securities) attesting
to such destruction unless by a Company Order the Company shall direct that the cancelled
Securities or coupons be returned to it.

     Section 310. Computation of Interest. Except as otherwise specified as contemplated by
Section 301 for Securities of any series, interest on the Securities of each series shall be
computed on the basis of a year of twelve 30-day months.

     Section 311. Global Securities; Exchanges; Registration and Registration of Transfer. If
specified as contemplated by Section 301, the Securities may be issued in the form of one or more
Global Securities, which shall be deposited with the Depository, and, unless otherwise specified in
the form of Global Security adopted pursuant to Section 301, be registered in the name of the
Depository’s nominee.

     Except as otherwise specified as contemplated by Section 301, any permanent Global Security
shall be exchangeable only as provided in this paragraph. If the beneficial owners of interests in
a permanent Global Security are entitled to exchange such interests for Securities of such series
of like tenor and principal amount of another authorized form, as specified as contemplated by
Section 301, then without unnecessary delay but in any event not later than the earliest date on
which such interests may be so exchanged, the Company shall deliver to the Trustee definitive
Securities of that series in aggregate principal amount equal to the principal amount of such
permanent Global Security, executed by the Company. On or after the earliest date on which such
interests may be so exchanged, such permanent Global Security shall be surrendered from time to
time in accordance with instructions given to the Trustee and the Depository (which instructions
shall be in writing but need not comply with Section 102 or be accompanied by an Opinion of
Counsel) by the Depository or such other depository as shall be specified in the Company Order with
respect thereto to the Trustee, as the Company’s agent for such purpose, to be exchanged, in whole
or in part, for definitive Securities of the same series without charge and the Trustee shall
authenticate and deliver, in exchange for each portion of such permanent Global Security, a like
aggregate principal amount of definitive Securities of the same series of authorized denominations
and of like tenor as the portion of such permanent Global Security to be exchanged which, unless
the Securities of the series are not issuable both

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as Unregistered Securities and as Registered Securities, as specified as contemplated by
Section 301, shall be in the form of Unregistered Securities or Registered Securities, or any
combination thereof, as shall be specified by the beneficial owner thereof; provided, however, that
no such exchanges may occur during the periods specified by Section 305; and provided, further,
that no Unregistered Security delivered in exchange for a portion of a permanent Global Security
shall be mailed or otherwise delivered to any location in the United States unless the Company has
complied with the fourth paragraph of Section 305. Promptly following any such exchange in part,
such permanent Global Security shall be returned by the Trustee, to the Depository or such other
depository referred to above, in accordance with the instructions of the Company referred to above.

     The Global Security may be transferred to another nominee of the Depository, or to a successor
Depository selected by the Company, and upon surrender for registration of transfer of the Global
Security to the Trustee, the Company shall execute, and the Trustee shall authenticate and deliver,
in the name of the designated transferee, a new Global Security in the same aggregate principal
amount. If at any time the Depository notifies the Company that it is unwilling or unable to
continue as Depository and a successor Depository satisfactory to the Company is not appointed
within 90 days after the Company receives such notice, the Company will execute, and the Trustee
will authenticate and deliver, Securities in definitive form to the Depository in exchange for the
Global Security. In addition, if at any time the Company determines that it is not in the best
interest of the Company or the beneficial owners of Securities to continue to have a Global
Security representing all of the Securities held by a Depository, the Company may, at its option,
execute, and the Trustee will authenticate and deliver, Securities in definitive form to the
Depository in exchange for all or a portion of the Global Security. Promptly after any such
exchange of Securities in definitive form for all or a portion of the Global Security pursuant to
this paragraph, the Company shall promulgate regulations governing registration of transfers and
exchanges of Securities in definitive form, which regulations shall be reasonably satisfactory to
the Trustee and shall thereafter bind every Holder of such Securities.

     Section 312. Extension of Interest Payment. The Company shall have the right at any time, so
long as the Company is not in default in the payment of interest on the Securities of any series
hereunder, to extend interest payment periods on all Securities of one or more series, if so
specified as contemplated by Section 301 with respect to such Securities and upon such terms as may
be specified as contemplated by Section 301 with respect to such Securities. If the Company ever so
extends any such interest payment period, the Company shall promptly notify the Trustee.

ARTICLE IV

SATISFACTION AND DISCHARGE

     Section 401. Satisfaction and Discharge of Indenture. This Indenture shall upon Company
Request cease to be of further effect (except as to any surviving rights of registration of
transfer or exchange of Securities herein expressly provided for), and the Trustee, at the

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expense of the Company, shall execute proper instruments acknowledging satisfaction and
discharge of this Indenture, when

     (1) either

     (A) all Securities theretofore authenticated and delivered (other than
(i) Securities which have been destroyed, lost or stolen and which have been
replaced or paid as provided in Section 306 and (ii) Securities that are deemed paid
and discharged pursuant to Section 403) have been delivered to the Trustee for
cancellation; or

     (B) all such Securities not theretofore delivered to the Trustee for
cancellation

     (i) have become due and payable, or

     (ii) will become due and payable at their Stated Maturity within
60 days, or

     (iii) are to be called for redemption pursuant to Article XI hereof
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,
or

     (iv) are deemed paid and discharged pursuant to Section 403, as
applicable,

and the Company, in the case of clause (i), (ii) or (iii) above, has deposited or
caused to be deposited with the Trustee as trust funds in trust for such purpose an
amount of (a) money, or (b) (I) Eligible Obligations which through the payment of
interest and principal in respect thereof in accordance with their terms will
provide on or before the Stated Maturity or Redemption Date, as the case may be,
money in an amount, or (II) a combination of money or Eligible Obligations as
provided in clause (I) above, in each case sufficient, in the opinion of a
nationally recognized firm of independent certified public accountants expressed in
a written certification thereof delivered to the Trustee, to pay and discharge the
entire indebtedness on such Securities not theretofore delivered to the Trustee for
cancellation, for principal (and premium, if any) and interest to the date of such
deposit (in the case of Securities which have become due and payable) or to the
Stated Maturity or Redemption Date, as the case may be;

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

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     (3) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion
of Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture have been met.

     Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section 607, the obligations of the Trustee to any Authenticating
Agent under Section 614 and, if money or Eligible Obligations have been deposited with the Trustee
pursuant to subclause (B) of clause (1) of this Section or if money or Eligible Obligations shall
have been deposited with or received by the Trustee pursuant to Section 403, the obligations of the
Trustee under Section 402 and the last paragraph of Section 1003 shall survive.

     Section 402. Application of Trust Money.

     (a) Subject to the provisions of the last paragraph of Section 1003, all money or
Eligible Obligations deposited with the Trustee pursuant to Section 401, 403 or 1005 and all
money received by the Trustee in respect of Eligible Obligations deposited with the Trustee
pursuant to Section 401, 403 or 1005, shall be held in trust and applied by it, in
accordance with the provisions of the Securities and this Indenture, to the payment, either
directly or through any Paying Agent (including the Company acting as its own Paying Agent)
as the Trustee may determine, to the Persons entitled thereto, of the principal (and
premium, if any) and interest for whose payment such money has been deposited with or
received by the Trustee or to make mandatory sinking fund payments or analogous payments as
contemplated by Section 401, 403 or 1005.

     (b) The Company shall pay and shall indemnify the Trustee against any tax, fee or
other charge imposed on or assessed against Eligible Obligations deposited pursuant to
Section 401, 403 or 1005 or the interest and principal received in respect of such
obligations other than any payable by or on behalf of Holders.

     (c) The Trustee shall deliver or pay to the Company from time to time upon Company
Request any Eligible Obligations or money held by it as provided in Section 401, 403 or 1005
which, in the opinion of a nationally recognized firm of independent certified public
accountants expressed in a written certification thereof delivered to the Trustee, are then
in excess of the amount thereof which then would have been required to be deposited for the
purpose for which such Eligible Obligations or money was deposited or received. This
provision shall not authorize the sale by the Trustee of any Eligible Obligations held under
this Indenture.

     Section 403. Satisfaction, Discharge and Defeasance of Securities of Any Series. The Company
shall be deemed to have paid and discharged the entire indebtedness on all the Outstanding
Securities of any series on the 91st day after the date of the deposit referred to in subparagraph
(e) hereof, and the provisions of this Indenture, as it relates to such Outstanding Securities of
such series, shall no longer be in effect (and the Trustee, at the expense of the Company, shall at
Company Request execute proper instruments acknowledging the same), except as to:

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     (a) the rights of Holders of Securities of such series to receive, from the trust
funds described in subparagraph (e) hereof, (i) payment of the principal of (and premium, if
any) and each installment of principal of (and premium, if any) or interest on the
Outstanding Securities of such series on the Stated Maturity of such principal or
installment of principal or interest or to and including the Redemption Date irrevocably
designated by the Company pursuant to subparagraph (k) hereof and (ii) the benefit of any
mandatory sinking fund payments applicable to the Securities of such series on the day on
which such payments are due and payable in accordance with the terms of this Indenture and
the Securities of such series;

     (b) the Company’s obligations with respect to such Securities of such series under
Sections 305, 306, 1002 and 1003 and, if the Company shall have irrevocably designated a
Redemption Date pursuant to subparagraph (k) hereof, Sections 1101, 1104 and 1106;

     (c) the Company’s obligations with respect to the Trustee under Section 607; and

     (d) the rights, powers, trust and immunities of the Trustee hereunder and the duties
of the Trustee under Section 402 and, if the Company shall have irrevocably designated a
Redemption Date pursuant to subparagraph (k) hereof, Article XI and the duty of the Trustee
to authenticate Securities of such series issued on registration of transfer or exchange;

provided, that the following conditions shall have been satisfied:

     (e) the Company has deposited or caused to be irrevocably deposited (except as
provided in Section 402) with the Trustee as trust funds in trust, specifically pledged as
security for, and dedicated solely to, the benefit of the Holders of the Securities of such
series, (i) money in an amount, or (ii) (A) Eligible Obligations which through the payment
of interest and principal in respect thereof in accordance with their terms will provide on
or before the due date of any payment referred to in clause (z) or (y) of this subparagraph
(e) money in an amount or (B) a combination thereof, sufficient, in the opinion of a
nationally recognized firm of independent certified public accountants expressed in a
written certification thereof delivered to the Trustee, to pay and discharge (z) the
principal of (and premium, if any) and each installment of principal (and premium, if any)
and interest on the Outstanding Securities of such series on the Stated Maturity of such
principal or installment of principal or interest or to and including the Redemption Date
irrevocably designated by the Company pursuant to subparagraph (k) hereof and (y) any
mandatory sinking fund payments applicable to the Securities of such series on the day on
which such payments are due and payable in accordance with the terms of this Indenture and
of the Securities of such series;

     (f) such deposit will not result in a breach or violation of, or constitute a default
under, this Indenture or any other agreement or instrument to which the Company is a party
or by which it is bound;

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     (g) such provision would not cause any Outstanding Securities of such series then
listed on the New York Stock Exchange or other securities exchange to be delisted as a
result thereof;

     (h) no Event of Default or event that with notice or lapse of time would become an
Event of Default with respect to the Securities of such series has occurred and is
continuing on the date of such deposit or during the period ending on the 91st day after
such date;

     (i) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion
of Counsel to the effect that the Company has received from, or there has been published by,
the Internal Revenue Service a ruling to the effect that Holders of the Securities of such
series will not recognize income, gain or loss for Federal income tax purposes as a result
of such deposit, defeasance and discharge and will be subject to Federal income tax on the
same amount and in the same manner and at the same times, as would have been the case if
such deposit, defeasance and discharge had not occurred;

     (j) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion
of Counsel, each stating that all conditions precedent provided for relating to the
defeasance contemplated by this Section have been complied with; and

     (k) if the Company has deposited or caused to be deposited money or Eligible
Obligations to pay or discharge the principal of (and premium, if any) and interest on the
Outstanding Securities of a series to and including a Redemption Date pursuant to
subparagraph (e) hereof, such Redemption Date shall be irrevocably designated by a Board
Resolution delivered to the Trustee on or prior to the date of deposit of such money or
Eligible Obligations, and such Board Resolution shall be accompanied by an irrevocable
Company Request that the Trustee give notice of such redemption in the name and at the
expense of the Company not less than 30 nor more than 60 days prior to such Redemption Date
in accordance with Section 1104.

ARTICLE V

REMEDIES

     Section 501. Events of Default. “Event of Default”, wherever used herein with respect to
Securities of any series, means any one of the following events (whatever the reason for such Event
of Default and whether it shall be voluntary or involuntary or be effected by operation of law or
pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

     (1) default in the payment of any interest upon any Security of that series when it
becomes due and payable, and continuance of such default for a period of 30 days; provided,
however, that a valid extension of the interest payment period by the Company

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as contemplated in Section 312 shall not constitute a failure to pay interest for this
purpose; or

     (2) default in the payment of the principal of (or premium, if any, on) any Security
of that series at its Maturity; or

     (3) default in the deposit of any sinking fund payment, when and as due by the terms
of a Security of that series; or

     (4) default in the performance, or breach, of any covenant or warranty of the Company
in this Indenture (other than a covenant or warranty a default in whose performance or whose
breach is elsewhere in this Section specifically dealt with or which has expressly been
included in this Indenture solely for the benefit of series of Securities other than that
series), and continuance of such default or breach for a period of 60 days after there has
been given, by registered or certified mail, to the Company by the Trustee or to the Company
and the Trustee by the Holders of at least 25% in aggregate principal amount of the
Outstanding Securities of that series a written notice specifying such default or breach and
requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder;
or

     (5) the entry by a court having jurisdiction in the premises of (A) a decree or order
for relief in respect of the Company in an involuntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or
(B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as
properly filed a petition seeking reorganization, arrangement, adjustment or composition of
or in respect of the Company under any applicable Federal or State law, or appointing a
custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official
of the Company or of any substantial part of its property, or ordering the winding up or
liquidation of its affairs, and the continuance of any such decree or order for relief or
any such other decree or order unstayed and in effect for a period of 60 consecutive days;
or

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

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     (7) any other Event of Default provided with respect to Securities of that series as
contemplated by Sections 301 and 901(3).

     Section 502. Acceleration of Maturity; Rescission and Annulment. If an Event of Default with
respect to any series or Tranche of Senior Securities at the time Outstanding occurs and is
continuing, then, unless the principal of and interest on such series or Tranche of Senior
Securities has already become due and payable, either the Trustee or the Holders of a majority in
aggregate principal amount of such series or Tranche of Senior Securities then outstanding, by
notice in writing to the Company (and to the Trustee if given by such Holders), may declare the
principal of and interest on all the Senior Securities of such series or Tranche (or if any of the
Senior Securities are Original Issue Discount Securities or Indexed Securities, such portion of the
principal amount of such Securities as may be specified in the terms thereof) to be due and payable
immediately and upon any such declaration the same shall become immediately due and payable,
anything in this Indenture or in the Senior Securities of such series or Tranche contained to the
contrary notwithstanding; provided, however, that if an Event of Default has occurred and is
continuing with respect to more than one series or Tranche of Senior Securities, the Trustee or the
Holders of a majority in aggregate principal amount of the Outstanding Senior Securities (or if any
of the Senior Securities are Original Issue Discount Securities or Indexed Securities, such portion
of the principal amount of such Securities as may be specified in the terms thereof) of all such
series or Tranches (voting as one class) may make such declaration of acceleration, and not the
Holders of the Senior Securities of any one of such series or Tranches.

     If an Event of Default with respect to any series or Tranche of Subordinated Securities at the
time Outstanding occurs and is continuing, then, unless the principal of and interest on such
series or Tranche of Subordinated Securities has already become due and payable, either the Trustee
or the Holders of a majority in aggregate principal amount of the Subordinated Securities of such
series or Tranche then outstanding, by notice in writing to the Company (and to the Trustee if
given by such Holders), may declare the principal of and interest on all the Subordinated
Securities of such series or Tranche (or if any of the Subordinated Securities are Original Issue
Discount Securities or Indexed Securities, such portion of the principal amount of such Securities
as may be specified in the terms thereof) to be due and payable immediately and upon any such
declaration the same shall become immediately due and payable, anything in this Indenture or in the
Subordinated Securities of such series contained to the contrary notwithstanding; provided,
however, that if an Event of Default has occurred and is continuing with respect to more than one
series or Tranche of Subordinated Securities, the Trustee or the Holders of a majority in aggregate
principal amount of the Outstanding Subordinated Securities (or if any of the Subordinated
Securities are Original Issue Discount Securities or Indexed Securities, such portion of the
principal amount of such Securities as may be specified in the terms thereof) of all such series or
Tranche (voting as one class) may make such declaration of acceleration, and not the Holders of the
Subordinated Securities of any one of such series or Tranches.

     Notwithstanding the foregoing, if an Event of Default specified in Section 501(5) or (6)
occurs, the principal of and interest on all the Securities (or if any of the Senior Securities are
Original Issue Discount Securities or Indexed Securities, such portion of the principal amount of
such Securities as may be specified in the terms thereof) shall ipso facto become and be

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immediately due and payable without any declaration or other act or notice on the part of the
Trustee or any Holders of the Securities.

     In the case of any declaration of acceleration of the Stated Maturity of any Original Issue
Discount Securities or Indexed Securities of a series, the Company shall furnish the Trustee with
an Officer’s Certificate stating the amount of principal to be paid to a Holder of $1,000 principal
amount of such Securities.

     At any time after such a declaration of acceleration with respect to Securities of any series
has been made and before a judgment or decree for payment of the money due has been obtained by the
Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal
amount of the Outstanding Securities of that series, by written notice to the Company and the
Trustee, may rescind and annul such declaration and its consequences if

     (1) the Company has paid or deposited with the Trustee a sum sufficient to pay

     (A) all overdue interest on all Securities of that series,

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

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

     (D) all sums paid or advanced by the Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel;

     and

     (2) all Events of Default with respect to Securities of that series, other than the
non-payment of the principal of Securities of that series which have become due solely by
such declaration of acceleration, have been cured or waived as provided in Section 513.

     No such rescission shall affect any subsequent default or impair any right consequent thereon.

     Section 503. Collection of Indebtedness and Suits for Enforcement by Trustee. The Company
covenants that if

     (1) default is made in the payment of any interest on any Security when such interest
becomes due and payable and such default continues for a period of 30 days, or

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     (2) default is made in the payment of the principal of (or premium, if any, on) any
Security at the Maturity thereof,

the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such
Securities, the whole amount then due and payable on such Securities for principal (and premium, if
any) and interest and, to the extent that payment of such interest shall be legally enforceable,
interest on any overdue principal (and premium, if any) and on any overdue interest, at the rate or
rates prescribed therefor in such Securities, and, in addition thereto, 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, its agents and counsel.

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

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

     Section 504. Trustee May File Proofs of Claim. In case of the pendency of any receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other
judicial proceeding relative to the Company or any other obligor upon the Securities or the
property of the Company or of such other obligor or their creditors, the Trustee (irrespective of
whether the principal of the Securities shall then be due and payable as therein expressed or by
declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the
Company for the payment of overdue principal or interest) shall be entitled and empowered, by
intervention in such proceeding or otherwise,

     (i) to file and prove a claim for the whole amount of principal (and premium,
if any) and interest owing and unpaid in respect of the Securities and to file such
other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel) and of
the Holders allowed in such judicial proceeding, and

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

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and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 607.

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

     Section 505. Trustee May Enforce Claims Without Possession of Securities or Coupons. All
rights of action and claims under this Indenture or the Securities or coupons may be prosecuted and
enforced by the Trustee without the possession of any of the Securities or coupons or the
production thereof in any proceeding relating thereto, and any such proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and any recovery of
judgment shall, after provision for the payment of the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of
the Holders of the Securities and coupons in respect of which such judgment has been recovered.

     Section 506. Application of Money Collected. Any money collected by the Trustee pursuant to
this Article shall be applied in the following order, at the date or dates fixed by the Trustee,
and, in case of the distribution of such money on account of principal (or premium, if any) or
interest, upon presentation of the Securities and the notation thereon of the payment if only
partially paid and upon surrender thereof if fully paid:

     FIRST: To the payment of all amounts due the Trustee under Section 607;

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

     THIRD: The balance, if any, to the Company.

     The Trustee may fix a record date (with respect to Registered Securities) and payment date for
any such payment to Holders of Securities.

     Section 507. Limitation on Suits. No Holder of any Security of any series shall have any
right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for
the appointment of a receiver or trustee, or for any other remedy hereunder, unless

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

     (2) the Holders of not less than 25% in aggregate principal amount of the Outstanding
Securities of that series shall have made written request to the Trustee to institute
proceedings in respect of such Event of Default in its own name as Trustee hereunder;

     (3) such Holder or Holders have offered to the Trustee indemnity against the
reasonable costs, expenses and liabilities to be incurred in compliance with such request in
such amount and for such person or persons as shall be reasonably acceptable to the Trustee;

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

     (5) no direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in aggregate principal amount of the
Outstanding Securities of that series;

it being understood and intended that (subject to Section 508) no one or more of such Holders shall
have any right in any manner whatever by virtue of, or by availing of, any provision of this
Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or
to seek to obtain priority or preference over any other of such Holders or to enforce any right
under this Indenture, except in the manner herein provided and for the equal and ratable benefit of
all of such Holders.

     Section 508. Unconditional Right of Holders to Receive Principal, Premium and
Interest. Notwithstanding any other provision in this Indenture, the Holder of any Security shall
have the right, which is absolute and unconditional, to receive payment of the principal of (and
premium, if any) and (subject to Section 307) interest on such Security on the Stated Maturity or
Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date, or,
in the case of repayment at the option of the Holder, on the Repayment Date) and to institute suit
for the enforcement of any such payment, and such rights shall not be impaired without the consent
of such Holder.

     Section 509. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted
any proceeding to enforce any right or remedy under this Indenture and such proceeding 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 had been instituted.

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     Section 510. Rights and Remedies Cumulative. Except as otherwise provided with respect to
the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph
of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the
Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall,
to the extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or
employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy.

     Section 511. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any
Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall
impair any such right or remedy or constitute a waiver of any such Event of Default or an
acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to
the Holders may be exercised from time to time, and as often as may be deemed expedient, by the
Trustee or by the Holders, as the case may be.

     Section 512. Control by Holders. The Holders of not less than a majority in aggregate
principal amount of the Outstanding Securities of any series shall have the right to direct the
time, method and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred on the Trustee, with respect to the Securities of such
series, provided that

     (1) such direction shall not be in conflict with any rule of law or with this
Indenture, and

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

     Section 513. Waiver of Past Defaults. The Holders of not less than a majority in aggregate
principal amount of the Outstanding Securities of any series may on behalf of the Holders of all
the Securities of such series waive any past default hereunder with respect to such series and its
consequences, except a default

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

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

     Upon any such waiver, such default shall cease to exist, and any Event of Default arising
therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such
waiver shall extend to any subsequent or other default or impair any right consequent thereon.

     Section 514. Undertaking for Costs. All parties to this Indenture agree, and each Holder of
any Security by his acceptance thereof shall be deemed to have agreed, that any court may in

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

     Section 515. Waiver of Stay or Extension Laws. The Company covenants (to the extent that it
may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at
any time hereafter in force, which may affect the covenants or the performance of this Indenture;
and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or
advantage of any such law and covenants that it will not hinder, delay or impede the execution of
any power herein granted to the Trustee, but will suffer and permit the execution of every such
power as though no such law had been enacted.

ARTICLE VI

THE TRUSTEE

     Section 601. Certain Duties and Responsibilities. (a) Except during the continuance of an
Event of Default,

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

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

     (b) In case an Event of Default has occurred and is continuing, the Trustee shall exercise
such of the rights and powers vested in it by this Indenture, and use the same degree of care and

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skill in their exercise, as a prudent man would exercise or use under the circumstances in the
conduct of his own affairs.

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

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

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

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

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

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

     Section 602. Notice of Defaults. Within 90 days after the occurrence of any default
hereunder with respect to the Securities of any series, the Trustee shall transmit by mail to all
Holders of Securities of such series entitled to receive reports pursuant to Section 704(3) (and,
if Unregistered Securities of that series are outstanding, shall cause to be published at least
once in an Authorized Newspaper in The City of New York and, if Securities of that series are
listed on any stock exchange outside of the United States, in the city in which such stock exchange
is located) notice of such default hereunder known to the Trustee, unless such default shall have
been cured or waived; provided, however, that, except in the case of a default in the payment of
the principal of (or premium, if any) or interest on any Security of such series or in the payment
of any sinking fund installment with respect to Securities of such series, the Trustee shall be
protected in withholding such notice if and so long as the board of directors, the executive
committee or a trust committee of directors or Responsible Officers of the Trustee in good faith
determine that the withholding of such notice is in the interest of the Holders of Securities of
such series. For the purpose of this Section, the term “default” means any event that is, or after

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notice or lapse of time or both would become, an Event of Default with respect to Securities
of such series.

     Section 603. Certain Rights of Trustee. Subject to the provisions of Section 601 and to the
applicable provisions of the Trust Indenture Act:

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

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

     (c) whenever in the administration of this Indenture the Trustee shall deem it
desirable that a matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may,
in the absence of bad faith on its part, rely upon an Officer’s Certificate or a certificate
of an officer or officers delivered pursuant to Section 301 and such Officer’s Certificate
or certificate of an officer or officers, in the absence of negligence or bad faith on the
part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or
omitted by it under the provisions of this Indenture upon the faith thereof;

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

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

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

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     (g) the Trustee may execute any of the trusts or powers hereunder or perform any
duties hereunder either directly or by or through agents or attorneys and the Trustee shall
not be responsible for any misconduct or negligence on the part of any agent or attorney
appointed with due care by it hereunder; no Depository or Paying Agent shall be deemed an
agent of the Trustee and the Trustee shall not be responsible for any act or omission by any
of them.

     Section 604. Not Responsible for Recitals or Issuance of Securities. The recitals contained
herein and in the Securities, except the Trustee’s certificate of authentication, shall be taken as
the statements of the Company, and the Trustee or any Authenticating Agent assumes no
responsibility for their correctness. The Trustee makes no representations as to the validity or
sufficiency of this Indenture or of the Securities of any series or any coupons. The Trustee or any
Authenticating Agent shall not be accountable for the use or application by the Company of
Securities or the proceeds thereof. The Trustee shall not be responsible for and makes no
representations as to the Company’s ability or authority to issue the Unregistered Securities or
the lawfulness thereof.

     Section 605. May Hold Securities. The Trustee, any Authenticating Agent, any Paying Agent,
any Security Registrar or any other agent of the Company or the Trustee, in its individual or any
other capacity, may become the owner or pledgee of Securities and, subject to Sections 608 and 613,
may otherwise deal with the Company with the same rights it would have if it were not Trustee,
Authenticating Agent, Paying Agent, Security Registrar or such other agent.

     Section 606. Money Held in Trust. Money held by the Trustee or by any Paying Agent (other
than the Company if the Company shall act as Paying Agent) in trust hereunder need not be
segregated from other funds except to the extent required by law. Neither the Trustee nor any
Paying Agent shall be liable for interest on any money received by it hereunder except as expressly
provided herein or otherwise agreed with the Company.

     Section 607. Compensation and Reimbursement. The Company agrees

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

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

     (3) to indemnify the Trustee for, and to hold it harmless against, any loss, liability
or expense incurred without negligence, willful misconduct or bad faith on its part, arising
out of or in connection with the acceptance or administration of the trust or trusts
hereunder or performance of its duties hereunder, including the costs and expenses of

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defending itself against any claim or liability in connection with the exercise or
performance of any of its powers or duties hereunder.

     As security for the performance of the obligations of the Company under this Section the
Trustee shall have a claim prior to the Securities and any coupons upon all property and funds held
or collected by the Trustee as such, except funds held in trust for the payment of principal of
(and premium, if any) or interest on particular Securities or any coupons.

     Section 608. Disqualification; Conflicting Interests. If the Trustee shall have or acquire
any conflicting interest within the meaning of the Trust Indenture Act, it shall either eliminate
such conflicting interest or resign to the extent, in the manner and with the effect, and subject
to the conditions, provided in the Trust Indenture Act and this Indenture. For purposes of
Section 310(b)(1) of the Trust Indenture Act and to the extent permitted thereby, the Trustee, in
its capacity as trustee in respect of the equally ranked and unsecured Securities of any series,
shall not be deemed to have a conflicting interest arising from its capacity as trustee in respect
of the equally ranked and unsecured Securities of any other series under this Indenture or any
securities issued under the Indenture dated as of
[    ] between the Company and the Trustee
[specifically describe other outstanding indentures with the Trustee].

     Section 609. Corporate Trustee Required; Eligibility. There shall at all times be a Trustee
hereunder which shall be a corporation organized and doing business under the laws of the United
States of America, any State thereof or the District of Columbia (or such other Person as may be
permitted to act as Trustee by the Commission), authorized under such laws to exercise corporate
trust powers, having a combined capital and surplus of at least $50,000,000, subject to supervision
or examination by Federal or State authority, provided that, neither the Company nor any Affiliate
of the Company may serve as Trustee of any Securities. If such corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of said supervising or
examining authority, then for the purposes of this Section, the combined capital and surplus of
such corporation shall be deemed to be its combined capital and surplus as set forth in its most
recent report of condition so published. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in the manner and with
the effect hereinafter specified in this Article.

     Section 610. Resignation and Removal; Appointment of Successor. (a) No resignation or
removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall
become effective until the acceptance of appointment by the successor Trustee in accordance with
the applicable requirements of Section 611.

     (b) The Trustee may resign at any time with respect to the Securities of one or more series
by giving written notice thereof to the Company. If the instrument of acceptance by a successor
Trustee required by Section 611 shall not have been delivered to the Trustee within 30 days after
the giving of such notice of resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of such
series.

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

     (d) If at any time:

     (1) the Trustee shall fail to comply with Section 608 with respect to the Securities
of any series, after written request therefor by the Company or by any Holder who has been a
bona fide Holder of a Security of such series for at least six months, or

     (2) the Trustee shall cease to be eligible under Section 609 and shall fail to resign
after written request therefor by the Company or by any such Holder, or

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

then, in any such case, (i) the Company by a Board Resolution may remove the Trustee with respect
to all Securities, or (ii) subject to Section 514, any Holder who has been a bona fide Holder of a
Security for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee with respect to all
Securities and the appointment of a successor Trustee or Trustees.

     (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, with respect to the Securities of one or more
series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees
with respect to the Securities of that or those series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all of such series and
that at any time there shall be only one Trustee with respect to the Securities of any particular
series) and shall comply with the applicable requirements of Section 611. If, within one year after
such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee
with respect to the Securities of any series shall be appointed by Act of the Holders of a majority
in aggregate principal amount of the Outstanding Securities of such series delivered to the Company
and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section 611, become the
successor Trustee with respect to the Securities of such series and to that extent supersede the
successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities
of any series shall have been so appointed by the Company or the Holders and accepted appointment
in the manner required by Section 611, any Holder who has been a bona fide Holder of a Security of
such series for at least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the appointment of a successor Trustee with
respect to the Securities of such series.

     (f) So long as no event that is, or after notice or lapse of time, or both, would become, an
Event of Default has occurred and is continuing, and except with respect to a Trustee appointed

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by Act of the Holders of a majority in principal amount of the Outstanding Securities pursuant
to subsection (e) of this Section, if the Company has delivered to the Trustee (i) a Board
Resolution appointing a successor Trustee, effective as of a date specified therein, and (ii) an
instrument of acceptance of such appointment, effective as of such date, by such successor Trustee
in accordance with Section 611, the Trustee shall be deemed to have resigned as contemplated in
subsection (b) of this Section, the successor Trustee shall be deemed to have been appointed by the
Company pursuant to subsection (e) of this Section and such appointment shall be deemed to have
been accepted as contemplated in Section 611, all as of such date, and all other provisions of this
Section and Section 611 shall be applicable to such resignation, appointment and acceptance except
to the extent inconsistent with this subsection (f).

     (g) The Company shall give notice of each resignation and each removal of the Trustee with
respect to the Securities of any series and each appointment of a successor Trustee with respect to
the Securities of any series by mailing written notice of such event by first-class mail, postage
prepaid, to all Holders of Securities of such series entitled to receive reports pursuant to
Section 704(3) and, if any Unregistered Securities are outstanding, by publishing notice of such
event once in an Authorized Newspaper in The City of New York and, if any Unregistered Securities
are listed on any stock exchange outside of the United States, in the city in which such stock
exchange is located. Each notice shall include the name of the successor Trustee with respect to
the Securities of such series and the address of its Corporate Trust Office.

     (h) All provisions of this Section except subparagraph (c) and Section 611(b) (except for the
last clause, after omitting the words “after deducting all amounts owed to the retiring Trustee
pursuant to Section 607,” which shall apply) shall apply also to any Paying Agent located outside
the United States and its possessions.

     Section 611. Acceptance of Appointment by Successor. (a) In case of the appointment
hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so
appointed shall execute, acknowledge and deliver to the Company and to the retiring Trustee an
instrument accepting such appointment, and thereupon the resignation or removal of the retiring
Trustee shall become effective and such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring
Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall,
upon payment of its charges, execute and deliver an instrument transferring to such successor
Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer
and deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder, subject nevertheless to its lien provided for in Section 607.

     (b) In case of the appointment hereunder of a successor Trustee with respect to the
Securities of one or more (but not all) series, the Company, the retiring Trustee and each
successor Trustee with respect to the Securities of one or more series shall execute and deliver an
indenture supplemental hereto wherein each successor Trustee shall accept such appointment and
which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm
to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the
retiring Trustee with respect to the Securities of that or those series to which the appointment of
such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all
Securities,

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shall contain such provisions as shall be deemed necessary or desirable to confirm that all
the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of
that or those series as to which the retiring Trustee is not retiring shall continue to be vested
in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as
shall be necessary to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such supplemental indenture shall
constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee
of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered
by any other such Trustee; and upon the execution and delivery of such supplemental indenture the
resignation or removal of the retiring Trustee shall become effective to the extent provided
therein and each such successor Trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series to which the appointment of such successor Trustee relates; but,
on request of the Company or any successor Trustee, such retiring Trustee shall duly assign,
transfer and deliver to such successor Trustee, after deducting all amounts owed to the retiring
Trustee pursuant to Section 607, all property and money held by such retiring Trustee hereunder
with respect to the Securities of that or those series to which the appointment of such successor
Trustee relates.

     (c) Upon request of any such successor Trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor Trustee all
such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may
be.

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

     Section 612. Merger, Conversion, Consolidation or Succession to Business. Any corporation
into which the Trustee may be merged or converted or with which it may be consolidated, or any
corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a
party, or any corporation succeeding to all or substantially all the corporate trust business of
the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be
otherwise qualified and eligible under this Article, without the execution or filing of any paper
or any further act on the part of any of the parties hereto. In case any Securities shall have been
authenticated, but not delivered, by the Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Trustee may adopt such authentication and
deliver the Securities so authenticated with the same effect as if such successor Trustee had
itself authenticated such Securities. In case any Securities shall not have been authenticated by
such predecessor Trustee, any such successor Trustee may authenticate and deliver such Securities,
in either its own name or that of its predecessor Trustee, with the full force and effect which
this Indenture provides for the certificate of authentication of the Trustee.

     Section 613. Preferential Collection of Claims Against Company. (a) If the Trustee shall be
or shall become a creditor, directly or indirectly, secured or unsecured, of the Company or any
other obligor upon the Securities of any series (other than be reason of a relationship described
in Section 311(b) of the Trust Indenture Act) within three months prior to a default or subsequent
to

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such a default, then the Trustee shall be subject to any and all applicable provisions of the
Trust Indenture Act regarding the collection of claims against the Company or such other obligor.

     (b) For the purposes of Section 311(b) of the Trust Indenture Act:

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

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

     Section 614. Appointment of Authenticating Agent. At any time when any of the Securities
remain Outstanding the Trustee may appoint an Authenticating Agent or Agents (which may include the
parent of the Trustee or a corporation that is a wholly-owned subsidiary of the Trustee or of the
parent of the Trustee) with respect to one or more series of Securities, or Tranche thereof, that
shall be authorized to act on behalf of the Trustee to authenticate Securities of such series
issued upon exchange, registration of transfer or partial redemption thereof or pursuant to
Section 306, and Securities so authenticated shall be entitled to the benefits of this Indenture
and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder.
The Trustee shall mail written notice of such appointment by first-class mail, postage prepaid, to
all Holders of Securities of the series with respect to which such Authenticating Agent will serve,
and which are entitled to receive reports pursuant to Section 704(3) and, if any Unregistered
Securities are outstanding, by publishing notice of such event once in an Authorized Newspaper in
The City of New York and, if any Unregistered Securities are listed on any stock exchange outside
of the United States, in the city in which such stock exchange is located. Wherever reference is
made in this Indenture to the authentication and delivery of Securities by the Trustee or the
Trustee’s certificate of authentication, such reference shall be deemed to include authentication
and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of
authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating
Agent shall be acceptable to the Company and shall at all times be a corporation organized and
doing business under the laws of the United States of America, any State thereof or the District of
Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and
surplus of not less than $1,000,000 and subject to supervision or examination by Federal or State
authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant
to law or to the requirements of said supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be
its combined capital and surplus as set forth in

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its most recent report of condition so published. If at any time an Authenticating Agent shall
cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent
shall resign immediately in the manner and with the effect specified in this Section.

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

     An Authenticating Agent may resign with respect to one or more series of Securities at any
time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any
time terminate the agency of an Authenticating Agent with respect to one or more series of
Securities by giving written notice thereof to such Authenticating Agent and to the Company. Upon
receiving such a notice of resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section,
the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company
and shall mail written notice of such appointment by first-class mail, postage prepaid, to all
Holders of Securities of the series with respect to which such Authenticating Agent will serve, as
their names and addresses appear in the Security Register. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with all the rights, powers and duties
of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent.
No successor Authenticating Agent shall be appointed unless eligible under the provisions of this
Section. An Authenticating Agent appointed pursuant to this Section shall be entitled to rely on
Sections 104, 111, 308, 603, 604 and 605 hereunder.

     The Trustee agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section, and the Trustee shall be entitled to be
reimbursed for such payments, subject to the provisions of Section 607.

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

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     This is one of the Securities of the series designated pursuant to and issued under the
within-mentioned Indenture.

	 	 	 	 	 	 	 
	 	 	[                    ]	 	 
	 	 	As Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

As Authenticating Agent on behalf of the Trustee
	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Authorized Officer of Authenticating Agent
	 	 

Dated:                     

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

ARTICLE VII

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

     Section 701. Company to Furnish Trustee Names and Addresses of Holders. The Company will
furnish or cause to be furnished to the Trustee

     (a) semi-annually, not later than the 15th day after each Regular Record Date for each
series of Registered Securities at the time Outstanding or on June 30 and December 31 of
each year with respect to each series of Securities for which there are no Regular Record
Dates, a list, in such form as the Trustee may reasonably require, of the names and
addresses of the Holders of Registered Securities of such series, including Holders of
interests in Global Securities, as of such preceding Regular Record Date or on June 15 or
December 15, as the case may be, or, in the case of a series of non-interest bearing
Securities, on a date to be determined as contemplated pursuant to Section 301, and

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     (b) at such other times as the Trustee may request in writing, within 30 days after
the receipt by the Company of any such request, a list of similar form and content as of a
date not more than 15 days prior to the time such list is furnished;

excluding from any such list names and addresses received by the Trustee in its capacity as
Security Registrar for Registered Securities other than Global Securities.

     Section 702. Preservation of Information; Communications to Holders. (a) The Trustee shall
preserve, in as current a form as is reasonably practicable, the names and addresses of Holders of
Registered Securities contained in the most recent list furnished to the Trustee as provided in
Section 701 and the names and addresses of Holders of Registered Securities received by the Trustee
in its capacity as Security Registrar or Paying Agent. The Trustee may destroy any list furnished
to it as provided in Section 701 upon receipt of a new list so furnished.

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

     (i) afford such applicants access to the information preserved at the time by
the Trustee in accordance with Section 702(a), or

     (ii) inform such applicants as to the approximate number of Holders whose
names and addresses appear in the information preserved at the time by the Trustee
in accordance with Section 702(a), and as to the approximate cost of mailing to such
Holders the form of proxy or other communication, if any, specified in such
application.

     If the Trustee shall elect not to afford such applicants access to such information, the
Trustee shall, upon the written request of such applicants, mail to each Holder whose name and
address appear in the information preserved at the time by the Trustee in accordance with
Section 702(a) a copy of the form of proxy or other communication which is specified in such
request, with reasonable promptness after a tender to the Trustee of the material to be mailed and
of payment, or provision for the payment, of the reasonable expenses of mailing, unless within five
days after such tender the Trustee shall mail to such applicants and file with the Commission,
together with a copy of the material to be mailed, a written statement to the effect that, in the
opinion of the Trustee, such mailing would be contrary to the best interest of the Holders or would
be in violation of applicable law. Such written statement shall specify the basis of such opinion.
If the Commission, after opportunity for a hearing upon the objections specified in the written
statement so filed, shall enter an order refusing to sustain any of such objections or if, after
the entry of an order sustaining one or more of such objections, the Commission shall find, after
notice and opportunity for hearing, that all the objections so sustained have been met and shall
enter an order so declaring, the Trustee shall mail copies of such material to all such

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Holders with reasonable promptness after the entry of such order and the renewal of such
tender, otherwise the Trustee shall be relieved of any obligation or duty to such applicants
respecting their application.

     (c) Every Holder of Securities or coupons, by receiving and holding the same, agrees with the
Company and the Trustee that neither the Company nor the Trustee nor any agent of either of them
shall be held accountable by reason of the disclosure of any such information as to the names and
addresses of the Holders in accordance with Section 702(b), regardless of the source from which
such information was derived, and that the Trustee shall not be held accountable by reason of
mailing any material pursuant to a request made under Section 702(b).

     Section 703. Reports by Trustee. Within 60 days after May 15 of each year commencing with
the year 2009, the Trustee shall transmit by mail to each Holder of Registered Securities of any
series a brief report dated as of such May 15 if required by TIA Section 313(a). The Trustee shall
also comply with the reporting requirements of TIA Sections 313(b), (c) and (d). A copy of each
such report at the time of mailing to Holders shall be mailed to the Company.

     Section 704. Reports by Company. The Company shall:

     (1) file with the Trustee, within 15 days after the Company is required to file the
same with the Commission, copies of the annual reports and of the information, documents and
other reports (or copies of such portions of any of the foregoing as the Commission may from
time to time by rules and regulations prescribe) which the Company may be required to file
with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act
of 1934; or, if the Company is not required to file information, documents or reports
pursuant to either of said Sections, then it shall file with the Trustee and the Commission,
in accordance with rules and regulations prescribed from time to time by the Commission,
such of the supplementary and periodic information, documents and reports which may be
required pursuant to Section 13 of the Securities Exchange Act of 1934 in respect of a
security listed and registered on a national securities exchange as may be prescribed from
time to time in such rules and regulations;

     (2) file with the Trustee and the Commission, in accordance with rules and regulations
prescribed by the Commission, such additional information, documents and reports with
respect to compliance by the Company with the conditions and covenants of this Indenture as
may be required from time to time by such rules and regulations;

     (3) transmit by mail to all Holders, as their names and addresses appear in the
Security Register, to such Holders of Unregistered Securities as have, within the two years
preceding such transmission, filed their names and addresses with the Trustee for that
purpose and to each Holder whose name and address is then preserved on the Trustee’s list
pursuant to the first sentence of Section 702(a), within 30 days after the filing thereof
with the Trustee, such summaries of any information, documents and reports required to be
filed by the Company pursuant to paragraphs (1) and (2) of this

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Section as may be required by rules and regulations prescribed from time to time by the
Commission; and

     (4) furnish to the Trustee, not less often than annually, a brief certificate from the
Company’s principal executive officer, principal financial officer or principal accounting
officer as to his or her knowledge of the Company’s compliance with all conditions and
covenants hereunder; such compliance shall be determined without regard to any period of
grace or requirement of notice provided hereunder. Such certificate shall be provided
concurrently with, but may be separate from, the certificate provided pursuant to
Section 1006.

ARTICLE VIII

CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER

     Section 801. Company May Consolidate, Etc. Only on Certain Terms. The Company shall not
consolidate with or merge into any other corporation or convey, transfer or lease all or
substantially all of its properties and assets to any Person, unless:

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

     (2) immediately after giving effect to such transaction, no Event of Default and no
event which, after notice or lapse of time or both, would become an Event of Default, shall
have occurred and be continuing;

     (3) if, as a result of any such consolidation or merger or such conveyance, transfer
or lease, properties or assets of the Company would become subject to a mortgage, pledge,
lien, security interest or other encumbrance which would not be permitted by this Indenture,
the Company or such successor corporation or Person, as the case may be, shall take such
steps as shall be necessary effectively to secure the Securities equally and ratably with
(or, at the option of the Company, prior to) all indebtedness secured thereby; and

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

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     Section 802. Successor Corporation Substituted. Upon any consolidation or merger or any
conveyance, transfer or lease of all or substantially all the properties and assets of the Company
in accordance with Section 801, the successor corporation formed by such consolidation or into
which the Company is merged or to which such conveyance, transfer or lease is made shall succeed
to, and be substituted for, and may exercise every right and power of, the Company under this
Indenture with the same effect as if such successor corporation had been named as the Company
herein and thereafter, in the case of a conveyance, transfer or lease of properties and assets of
the Company substantially as an entirety, such conveyance, transfer or lease shall have the effect
of releasing the Person named as the “Company” in the first paragraph of this instrument or any
successor corporation which shall theretofore have become such in the manner prescribed in this
Article from its liability as obligor and maker on any of the Securities.

ARTICLE IX

SUPPLEMENTAL INDENTURES

     Section 901. Supplemental Indentures Without Consent of Holders. Without the consent of any
Holders, the Company and the Trustee, at any time and from time to time, may enter into one or more
indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following
purposes:

     (1) to evidence the succession of another corporation to the Company and the
assumption by any such successor of the covenants of the Company herein and in the
Securities; or

     (2) to add to the covenants of the Company for the benefit of the Holders of all or
any series of Securities (and if such covenants are to be for the benefit of less than all
series of Securities, stating that such covenants are expressly being included solely for
the benefit of such series) or to surrender any right or power herein conferred upon the
Company; or

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

     (4) to add to or change any of the provisions of this Indenture to such extent as
shall be necessary to permit or facilitate the issuance of Securities in bearer form,
registrable or not registrable as to principal, and with or without interest coupons; or

     (5) to change or eliminate any of the provisions of this Indenture, or to add any new
provision to this Indenture, in respect of one or more series or Tranches of Securities;
provided, however, that any such change, elimination or addition (A) shall neither (i) apply
to any Security Outstanding on the date of such indenture supplemental hereto nor
(ii) modify the rights of the Holder of any such Security with respect to such provision in
effect prior to the date of such indenture supplemental hereto or (B) shall

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become effective only when no Security of such series or Tranche remains Outstanding;
or

     (6) to secure the Securities pursuant to the requirements of any covenant on liens in
respect of such series of Securities or otherwise; or

     (7) to establish for the issuance of and establish the form or terms and conditions of
Securities of any series or Tranche as permitted by Section 301, and to establish the form
of any certificates required to be furnished pursuant to the terms of this Indenture or any
series of Securities; or

     (8) to provide for uncertificated Securities in addition to or in place of all, or any
series or Tranche of, certificated Securities; or

     (9) to evidence and provide for the acceptance of appointment hereunder by a separate
or successor Trustee or co-trustee with respect to the Securities of one or more series and
to add to or change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one Trustee,
pursuant to the requirements of Section 611(b); or

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

     (11) to cure any ambiguity, to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein, provided such action shall not
adversely affect the interests of the Holders of Securities of any series or Tranche in any
material respect; or

     (12) to make any other provisions with respect to matters or questions arising under
this Indenture, provided such action shall not adversely affect the interests of the Holders
of any Securities of any series or Tranche Outstanding on the date of such indenture
supplemental hereto.

     The Trustee shall give notice to the Holders of Securities of all series affected by any such
supplemental indenture as provided in Section 106. Such notice shall describe the changes effected
by such supplemental indenture.

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

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

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

     Section 902. Supplemental Indentures With Consent of Holders. (a) Except as set forth in
paragraph (c) below, with the consent of the Holders of not less than a majority in aggregate
principal amount of the Securities at the time Outstanding of all series or Tranches of Senior
Securities affected by such supplemental indenture (voting as one class), the Company, when
authorized by a resolution of its Board of Directors (which resolution may provide general terms or
parameters for such action and may provide that the specific terms of such action may be determined
in accordance with or pursuant to a Company Order), and the Trustee may, from time to time and at
any time, enter into an indenture or indentures supplemental hereto (which shall conform to the
provisions of the Trust Indenture Act as in force and effect at the date of execution thereof) for
the purpose of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Indenture or of any supplemental indenture or of modifying in any manner the
rights of the Holders of the Securities of each such series or Tranche or of the Coupons
appertaining to such Securities or of modifying in any manner the rights of the Holders of
Securities of such series or Tranche under this Indenture.

     (b) Except as set forth in paragraph (c) below, with the consent of the Holders of not less
than a majority in aggregate principal amount of the Securities at the time Outstanding of all
series or Tranches of Subordinated Securities affected by such supplemental indenture (voting as
one class), the Company, when authorized by a resolution of its Board of Directors (which
resolution may provide general terms or parameters for such action and may provide that the
specific terms of such action may be determined in accordance with or pursuant to a Company Order),
and the Trustee may, from time to time and at any time, enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as in force
and effect at the date of execution thereof) for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture or of any
supplemental indenture or of modifying in any manner the rights of the Holders of the Securities of
each such series or of the Coupons appertaining to such Securities or of modifying in any manner
the rights of the Holders of Securities of such series or Tranche under this Indenture.

     (c) No such supplemental indenture or waiver shall, without the consent of the Holder of each
Outstanding Security affected thereby,

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     (1) change the Stated Maturity of the principal of, or any installment of principal of
or interest on, any Security, or reduce the principal amount thereof or the rate of interest
thereon or any premium payable upon the redemption thereof, or reduce the amount of the
principal of an Original Issue Discount Security that would be due and payable upon a
declaration of acceleration of the Maturity thereof pursuant to Section 502, or change the
coin or currency in which, any Security or any premium or the interest thereon is payable,
or impair the right to institute suit for the enforcement of any such payment on or after
the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date,
or, in the case of repayment at the option of the Holders, on or after the Repayment Date),
or modify any provisions of this Indenture with respect to the conversion or exchange of the
Securities into Securities of another series or into any other debt or equity securities in
a manner adverse to the Holders, or

     (2) reduce the percentage in principal amount of the Outstanding Securities of any
series, or any Tranche thereof, the consent of whose Holders is required for any such
supplemental indenture, or the consent of whose Holders is required for any waiver (of
compliance with certain provisions of this Indenture or certain defaults hereunder and their
consequences) provided for in this indenture, or

     (3) modify any of the provisions of this Section, Section 513 or Section 1007, except
to increase any such percentage or to provide that certain other provisions of this
Indenture cannot be modified or waived without the consent of the Holder of each Outstanding
Security affected thereby, provided, however, that this clause shall not be deemed to
require the consent of any Holder with respect to changes in the references to “the Trustee”
and concomitant changes in this Section and Section 1007, or the deletion of this proviso,
in accordance with the requirements of Sections 611(b) and 901(9).

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

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

     Section 903. Execution of Supplemental Indentures. In executing, or accepting the additional
trusts created by, any supplemental indenture permitted by this Article or the modifications
thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and
(subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating
that the execution of such supplemental indenture is authorized or permitted by this Indenture and
that such supplemental indenture will constitute a valid and legally binding obligation of the
Company, enforceable in accordance with its terms, subject to bankruptcy,

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insolvency, reorganization and other laws of general applicability relating to or affecting
the enforcement of creditors’ rights and to general equity principles. The Trustee may, but shall
not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own
rights, duties or immunities under this Indenture or otherwise.

     Section 904. Effect of Supplemental Indentures. Upon the execution of any supplemental
indenture under this Article, this Indenture shall be modified in accordance therewith, and such
supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of
Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.
Any supplemental indenture permitted by this Article may restate this Indenture in its entirety,
and, upon the execution and delivery thereof, any such restatement shall supersede this Indenture
as theretofore in effect for all purposes.

     Section 905. Conformity With Trust Indenture Act. Every supplemental indenture executed
pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in
effect.

     Section 906. Reference in Securities to Supplemental Indentures. Securities of any series,
or any Tranche thereof, authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental indenture. If the
Company shall so determine, new Securities of any series, or any Tranche thereof, and any
appertaining coupons so modified as to conform, in the opinion of the Trustee and the Company, to
any such supplemental indenture may be prepared and executed by the Company and authenticated and
delivered by the Trustee in exchange for Outstanding Securities of such series or Tranche and any
appertaining coupons.

     Section 907. Revocation and Effect of Consents. Until an amendment or waiver becomes
effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and
every subsequent Holder of a Security or portion of a Security that evidences the same debt as the
consenting Holder’s Security, even if notation of the consent is not made on any Security. However,
any such Holder or subsequent Holder may revoke the consent as to his Security or portion of a
Security if the Trustee receives the notice of revocation before the date on which the Trustee
receives an Officer’s Certificate certifying that the Holders of the requisite principal amount of
Securities have consented to the amendment or waiver. After an amendment or waiver becomes
effective, it shall bind every Holder of each series of Securities affected by such amendment 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 or waiver. If a record date is fixed,
then notwithstanding the provisions 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 consent to such amendment or waiver or to revoke any consent previously given, whether
or not such persons continue to be Holders after such record date.

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     After an amendment or waiver becomes effective it shall bind every Holder, unless it is of the
type described in any of clauses (1) through (3) of Section 902(c). In such case, the amendment or
waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of
a Security that evidences the same debt as the consenting Holder’s Security.

     Section 908. Modification Without Supplemental Indenture. If the terms of any particular
series of Securities shall have been established in a Board Resolution or an Officer’s Certificate
as contemplated by Section 301, and not in an indenture supplemental hereto, additions to, changes
in or the elimination of any of such terms may be effected by means of a supplemental Board
Resolution or Officer’s Certificate, as the case may be, delivered to, and accepted by, the
Trustee; provided, however, that such supplemental Board Resolution or Officer’s Certificate shall
not be accepted by the Trustee or otherwise be effective unless all conditions set forth in this
Indenture that would be required to be satisfied if such additions, changes or elimination were
contained in a supplemental indenture shall have been appropriately satisfied. Upon the acceptance
thereof by the Trustee, any such supplemental Board Resolution or Officer’s Certificate shall be
deemed to be a “supplemental indenture” for purposes of Sections 904 and 906.

ARTICLE X

COVENANTS

     Section 1001. Payment of Principal, Premium and Interest. Subject to the following
provisions, the Company will pay to the Trustee the amounts, in such coin or currency as is at the
time legal tender for the payment of public or private debt, in the manner, at the times and for
the purposes set forth herein and in the text of the Securities for each series, and the Company
hereby authorizes and directs the Trustee from funds so paid to it to make or cause to be made
payment of the principal of and interest, if any, on the Securities and coupons of each series as
set forth herein and in the text of such Securities and coupons. Unless otherwise provided in the
Securities of a series, the Trustee will arrange directly with any Paying Agents for the payment,
or the Trustee will make payment, from funds furnished by the Company, of the principal of and
interest, if any, on the Securities and coupons of each series by check or draft.

     Unless otherwise provided in the Securities of a series, interest, if any, on Registered
Securities of a series shall be paid by check or draft on each Interest Payment Date for such
series to the Holder thereof at the close of business on the relevant record dates specified in the
Securities of such series. The Company may pay such interest by check or draft mailed to such
Holder’s address as it appears on the register for Securities of such series. Unless otherwise
provided in the Securities of a series, principal of Registered Securities shall be payable by
check or draft and only against presentation and surrender of such Registered Securities at the
office of the Paying Agent, unless the Company shall have otherwise instructed the Trustee in
writing.

     Unless otherwise provided in the Securities of a series, (i) interest, if any, on Unregistered
Securities shall be paid by check or draft and only against presentation and

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surrender of the coupons for such interest installments as are evidenced thereby as they
mature and (ii) original issue discount (as defined in Section 1273 of the Code), if any, on
Unregistered Securities shall be paid by check or draft and only against presentation and surrender
of such Securities, in either case at the office of a Paying Agent located outside of the United
States and its possessions, unless the Company shall have otherwise instructed the Trustee in an
Officer’s Certificate. Unless otherwise provided in the Securities of a series, principal of
Unregistered Securities shall be paid by check or draft and only against presentation and surrender
of such Securities as provided in the Securities of a series. If at the time a payment of principal
of or interest, if any, or original issue discount, if any, on an Unregistered Security or coupon
shall become due and the payment of the full amount so payable at the office or offices of all the
Paying Agents outside the United States and its possessions is illegal or effectively precluded
because of the imposition of exchange controls or other similar restrictions on the payment of such
amount in United States currency, then the Company may instruct the Trustee in an Officer’s
Certificate to make such payments at the office of a Paying Agent located in the United States. The
Company hereby covenants and agrees that it shall not so instruct the Trustee with respect to
payment in the United States if such payment would cause such Unregistered Security to be treated
as a “registration-required obligation” under United States law and regulations.

     At the election of the Company, any payments by the Company provided for in this Indenture or
in any of the Securities may be made by electronic funds transfer.

     Section 1002. Maintenance of Office or Agency. The Company will maintain in each Place of
Payment for any series of Securities an office or agency where Registered Securities of that series
may be surrendered for registration of transfer or exchange and a Place of Payment where (subject
to Sections 305 and 307) Securities may be presented for payment or exchange and where notices and
demands to or upon the Company in respect of the Securities of that series and this Indenture may
be served. Unless otherwise specified pursuant to Section 301 with respect to any such series, the
Company shall maintain such offices or agencies in connection with each series in the Borough of
Manhattan, The City of New York, State of New York. With respect to any series of Securities issued
in whole or in part as Unregistered Securities, the Company shall maintain one or more Paying
Agents located outside the United States and its possessions and shall maintain such Paying Agents
for a period of one year after the principal of such Unregistered Securities has become due and
payable. During any period thereafter for which it is necessary in order to conform to United
States tax law or regulations, the Company will maintain a Paying Agent outside the United States
and its possessions to which the Unregistered Securities or coupons appertaining thereto may be
presented for payment and will provide the necessary funds therefor to such Paying Agent upon
reasonable notice. The Security Registrar shall keep a register with respect to each series of
Securities issued in whole or in part as Registered Securities and to their transfer and exchange.
The Company may appoint one or more co-Security Registrars acceptable to the Trustee and one or
more additional Paying Agents for each series of Securities, and the Company may terminate the
appointment of any co-Security Registrar or Paying Agent at any time upon written notice. The term
“Security Registrar” includes any co-Security Registrar. The term “Paying Agent” includes any
additional Paying Agent. The Company shall notify the Trustee of the name and address of any Agent
not a party to this Indenture. Subject to Section 305, if the Company fails to maintain a Security
Registrar or Paying Agent, the Trustee shall act as such. The Company will give prompt written
notice to the

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

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

     In the case of Original Issue Discount Securities of a series, the Company shall, prior to any
Redemption Date or any Repayment Date applicable thereto, furnish the Trustee with an Officer’s
Certificate stating the amount of principal to be paid to a Holder of $1,000 principal amount of
such Securities.

     Section 1003. Money for Securities Payments to Be Held in Trust. If the Company shall at any
time act as its own Paying Agent with respect to any series of Securities, it will, on or before
each due date of the principal of (and premium, if any) or interest on any of the Securities of
that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum
sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums
shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify
the Trustee of its action or failure so to act.

     Whenever the Company shall have one or more Paying Agents for any series of Securities, it
will, on or prior to (and if on, then before 11:00 a.m. (New York City time)) each due date of the
principal of (and premium, if any) or interest on any Securities of that series, deposit with a
Paying Agent a sum sufficient (in immediately available funds, if payment is made on the due date)
to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in
trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless
such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or
failure so to act.

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

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

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     (2) give the Trustee notice of any default by the Company (or any other obligor upon
the Securities of that series) in the making of any payment of principal (and premium, if
any) or interest on the Securities of that series; and

     (3) at any time during the continuance of any such default, upon the written request
of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent.

     The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay,
to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by
the Trustee upon the same trusts as those upon which such sums were held by the Company or such
Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be
released from all further liability with respect to such money.

     Any money deposited with the Trustee or any Paying Agent, or received by the Trustee in
respect of Eligible Obligations deposited with the Trustee pursuant to Section 401, 403 or 1005, or
then held by the Company, in trust for the payment of the principal of (and premium, if any) or
interest on any Security of any series and remaining unclaimed for two years (less a day) after
such principal (and premium, if any) or interest has become due and payable shall be paid to the
Company on Company Request, or (if then held by the Company) shall be discharged from such trust;
and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to
the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect
to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease;
provided, however, that the Trustee or such Paying Agent, before being required to make any such
repayment, may at the expense of the Company cause to be published once, in a newspaper published
in the English language, customarily published on each Business Day and of general circulation in
the Borough of Manhattan, The City of New York, notice that such money remains unclaimed and that,
after a date specified therein, which shall not be less than 30 days from the date of such
publication, any unclaimed balance of such money then remaining will be repaid to the Company.

     Section 1004. Corporate Existence. Subject to Article VIII, the Company will do or cause to
be done all things necessary to preserve and keep in full force and effect its corporate existence,
rights (charter and statutory) and franchises; provided, however, that the Company shall not be
required to preserve any such right or franchise if the Board of Directors shall determine that the
preservation thereof is no longer desirable in the conduct of the business of the Company and that
the loss thereof is not disadvantageous in any material respect to the Holders.

     Section 1005. Defeasance of Certain Obligations. The Company may omit to comply with any
term, provision or condition set forth in the covenants or restrictions specified for such
Securities pursuant to Section 301 with respect to the Securities of any series or any Tranche
thereof, or any portion of the principal amount thereof, provided that the following conditions
shall have been satisfied:

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     (1) With reference to this Section, the Company has deposited or caused to be
irrevocably deposited (except as provided in Section 402) with the Trustee as trust funds in
trust, specifically pledged as security for, and dedicated solely to, the benefit of the
Holders of such Securities or portions thereof, (i) money in an amount, or (ii) if
Securities of such series are not subject to repayment at the option of Holders,
(A) Eligible Obligations which through the payment of interest and principal in respect
thereof in accordance with their terms will provide not later than one day before the due
date of any payment referred to in clause (x) or (y) of this subparagraph (1) money in an
amount, or (B) a combination thereof, sufficient, in the opinion of a nationally recognized
firm of independent certified public accountants expressed in a written certification
thereof delivered to the Trustee, to pay and discharge (x) the principal of (and premium, if
any) and each installment of principal (and premium, if any) and interest on the Outstanding
Securities of such series or portions thereof on the Stated Maturity of such principal or
installment of principal or interest or to and including the Redemption Date irrevocably
designated by the Company pursuant to subparagraph (7) of this Section and (y) any mandatory
sinking fund payments applicable to the Securities of such series or portions thereof on the
day on which such payments are due and payable in accordance with the terms of the Indenture
and of such Securities or portions thereof;

     (2) Such deposit shall not, as specified in an Opinion of Counsel, cause the Trustee
with respect to the Securities of such series to have a conflicting interest as defined in
Section 608 and for purposes of the Trust Indenture Act with respect to the Securities of
such series;

     (3) Such deposit will not result in a breach or violation of, or constitute a default
under, this Indenture or any other agreement or instrument to which the Company is a party
or by which it is bound;

     (4) No Event of Default or event which with notice or lapse of time would become an
Event of Default with respect to the Securities of such series shall have occurred and be
continuing on the date of such deposit and no Event of Default specified in Section 501(6)
or (7) shall have occurred at any time from the date of such deposit to the 91st calendar
day thereafter (it being understood that this condition to defeasance may not be satisfied
until such 91st calendar day after the date of deposit);

     (5) The Company shall have delivered to the Trustee an Opinion of Counsel to the
effect that Holders of the Securities of such series will not recognize income, gain or loss
for Federal income tax purposes as a result of such deposit and defeasance of certain
obligations and will be subject to Federal income tax on the same amount and in the same
manner and at the same times, as would have been the case if such deposit and defeasance had
not occurred;

     (6) The Company has delivered to the Trustee an Officer’s Certificate and an Opinion
of Counsel, each stating that all conditions precedent herein provided for relating to the
defeasance contemplated by this Section have been met; and

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     (7) If the Company has deposited or caused to be deposited money or Eligible
Obligations to pay or discharge the principal of (and premium, if any) and interest on the
Outstanding Securities of a series to and including a Redemption Date pursuant to
subparagraph (1) of this Section, such Redemption Date shall be irrevocably designated by a
Board Resolution delivered to the Trustee on or prior to the date of deposit of such money
or Eligible Obligations, and such Board Resolution shall be accompanied by an irrevocable
Company Request that the Trustee give notice of such redemption in the name and at the
expense of the Company not less than 30 nor more than 60 days prior to such Redemption Date
in accordance with Section 1104.

     Section 1006. Statement by Officers as to Default. The Company will deliver to the
Trustee, within 120 days after each December 31 following the date hereof, a written statement
signed by the Chairman of the Board, a Vice Chairman, the President, Senior Vice President or a
Vice President and by the Treasurer, an Assistant Treasurer, the Controller or an Assistant
Controller of the Company stating, as to each signer thereof, that

     (1) a review of the activities of the Company during such year and of performance
under this Indenture has been made under his supervision, and

     (2) to the best of his knowledge, based on such review, the Company has fulfilled all
its obligations under this Indenture throughout such year, or, if there has been a default
in the fulfillment of any such obligation, specifying each such default known to him and the
nature and status thereof.

     Section 1007. Waiver of Certain Covenants. (a) The Company may omit in any particular
instance to comply with any term, provision or condition set forth in (i) any additional covenants
or restrictions specified with respect to the Senior Securities of any series, or any Tranche
thereof, as contemplated by Section 301 if before the time for such compliance the Holders of not
less than a majority in aggregate principal amount (or such larger proportion as may be required in
respect of waiving a past default of any such additional covenant or restriction) of the
Outstanding Securities of all series and Tranches with respect to which such covenant or
restriction was so specified, considered as one class, shall, by Act of such Holders, either waive
such compliance in such instance or generally waive compliance with such term, provision or
condition and (ii) Sections 1002, 1004 and 1006 and Article VIII if before the time for such
compliance the Holders of at least a majority in principal amount of Senior Securities Outstanding
under this Indenture shall, by Act of such Holders, either waive such compliance in such instance
or generally waive compliance with such term, provision or condition; but, in the case of (i) or
(ii) of this paragraph (a), no such waiver shall extend to or affect such term, provision or
condition except to the extent so expressly waived, and, until such waiver shall become effective,
the obligations of the Company and the duties of the Trustee in respect of any such term, provision
or condition shall remain in full force and effect.

     (b) The Company may omit in any particular instance to comply with any term, provision or
condition set forth in (i) any additional covenants or restrictions specified with respect to the
Subordinated Securities of any series, or any Tranche thereof, as contemplated by Section 301 if
before the time for such compliance the Holders of not less than a majority in

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aggregate principal amount (or such larger proportion as may be required in respect of waiving
a past default of any such additional covenant or restriction) of the Outstanding Securities of all
series and Tranches with respect to which such covenant or restriction was so specified, considered
as one class, shall, by Act of such Holders, either waive such compliance in such instance or
generally waive compliance with such term, provision or condition and (ii) Sections 1002, 1004 and
1006 and Article VIII if before the time for such compliance the Holders of at least a majority in
principal amount of Subordinated Securities Outstanding under this Indenture shall, by Act of such
Holders, either waive such compliance in such instance or generally waive compliance with such
term, provision or condition; but, in the case of (i) or (ii) of this paragraph (b), no such waiver
shall extend to or affect such term, provision or condition except to the extent so expressly
waived, and, until such waiver shall become effective, the obligations of the Company and the
duties of the Trustee in respect of any such term, provision or condition shall remain in full
force and effect.

ARTICLE XI

REDEMPTION OF SECURITIES

     Section 1101. Applicability of Article. Securities of any series, or any Tranche thereof,
which are redeemable before their Stated Maturity (or, if the principal of the Securities of any
series is payable in installments, the Stated Maturity of the final installment of the principal
thereof) shall be redeemable in accordance with their terms and (except as otherwise specified as
contemplated by Section 301 for Securities of any series or Tranche) in accordance with this
Article.

     Section 1102. Election to Redeem; Notice to Trustee. The election of the Company to redeem
any Securities shall be evidenced by a Board Resolution or an Officer’s Certificate. In case of any
redemption at the election of the Company of less than all the Securities of any series, the
Company shall, at least 45 days prior to the Redemption Date fixed by the Company (unless a shorter
notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the
principal amount of Securities of such series or Tranche to be redeemed. In the case of any
redemption of Securities prior to the expiration of any restriction on such redemption provided in
the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee
with an Officer’s Certificate and, where reasonably required by the Trustee, an Opinion of Counsel
evidencing compliance with such restriction.

     Section 1103. Selection by Trustee of Securities to Be Redeemed. If less than all the
Securities of any series, or any Tranche thereof, are to be redeemed, the particular Securities to
be redeemed shall be selected not more than 45 days prior to the Redemption Date by the Trustee,
from the Outstanding Securities of such series not previously called for redemption, by such method
as is provided for any particular series, or, in the absence of any such provision, by such method
as the Trustee shall deem fair and appropriate and which may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for Securities of that series
or Tranche or any integral multiple thereof) of the principal amount of Securities of such series
or Tranche of a denomination larger than the minimum authorized

64

 

denomination for Securities of that series or Tranche; provided, however, that if, as
indicated in an Officer’s Certificate, the Company shall have offered to purchase all or any
principal amount of the Securities then Outstanding of any series, or any Tranche thereof, and less
than all of such Securities as to which such offer was made have been tendered to the Company for
such purchase, the Trustee, if so directed by Company Order, shall select for redemption all or any
principal amount of such Securities that have not been so tendered.

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

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

     Section 1104. Notice of Redemption. Notice of redemption shall be given by first-class mail,
postage prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption Date, to
each Holder of Securities to be redeemed, at his address appearing in the Security Register.

     If Unregistered Securities are to be redeemed, notice of redemption shall be published in an
Authorized Newspaper in The City of New York and, if such Securities to be redeemed are listed on
any stock exchange outside of the United States, in the city in which such stock exchange is
located, or in such other city or cities as may be specified in the Securities, once in each of two
different calendar weeks, the first publication to be not less than 30 nor more than 90 days before
the redemption date.

     All notices of redemption shall state:

     (1) the Redemption Date,

     (2) the Redemption Price, or the formula pursuant to which the Redemption Price is to
be determined if the Redemption Price cannot be determined at the time of notice is given,

     (3) if less than all the Outstanding Securities of any series or Tranche are to be
redeemed, the identification (and, in the case of partial redemption, the principal amounts)
of the particular Securities to be redeemed, and the portion of the principal amount of any
Security to be redeemed in part and, in the case of any such Security of such series to be
redeemed in part, that, on and after the Redemption Date, upon surrender of such Security, a
new Security or Securities of such series in principal amount equal to the remaining unpaid
principal amount thereof will be issued as provided in Section 1106,

65

 

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

     (5) the place or places where such Securities and all unmatured coupons are to be
surrendered for payment of the Redemption Price and accrued interest, if any,

     (6) that the redemption is for a sinking fund, if such is the case,

     (7) the CUSIP numbers, if any, assigned to such Securities; provided however, that
such notice may state that no representation is made as to the correctness of CUSIP numbers,
and the redemption of such Securities shall not be affected by any defect in or omission of
such number, and

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

     Unless otherwise specified with respect to any Securities in accordance with Section 301, with
respect to any notice of redemption of Securities at the election of the Company, unless, upon the
giving of such notice, such Securities shall be deemed to have been paid in accordance with
Section 401, such notice may state that such redemption shall be conditional upon the receipt by
the Paying Agent or Agents for such Securities, on or prior to the date fixed for such redemption,
of money sufficient to pay the principal of and premium, if any, and interest, if any, on such
Securities and that if such money shall not have been so received such notice shall be of no force
or effect and the Company shall not be required to redeem such Securities. In the event that such
notice of redemption contains such a condition and such money is not so received, the redemption
shall not be made and within a reasonable time thereafter notice shall be given, in the manner in
which the notice of redemption was given, that such money was not so received and such redemption
was not required to be made, and the Paying Agent or Agents for the Securities otherwise to have
been redeemed shall promptly return to the Holders thereof any of such Securities that had been
surrendered for payment upon such redemption.

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

     Section 1105. Securities Payable on Redemption Date. Notice of redemption having been given
as aforesaid (and subject to the penultimate paragraph of Section 1104), the Securities so to be
redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein
specified, and from and after such date (unless the Company shall default in the payment of the
Redemption Price and accrued interest, if any) such Securities, or portions thereof, if
interest-bearing, shall cease to bear interest. Upon surrender of any such Security for redemption
in accordance with said notice, such Security together with all unmatured coupons, if any, shall be
paid by the Company at the Redemption Price, together with accrued interest, if any, to the
Redemption Date but in the case of Unregistered Securities

66

 

installments of interest due on or prior to the Redemption Date will be payable to the bearers
of the coupons for such interest by check or draft upon surrender of such coupons; provided,
however, that installments of interest whose Stated Maturity is on or prior to the Redemption Date
shall be payable to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record Dates according to their terms
and the provisions of Section 307.

     If any Security called for redemption shall not be so paid upon surrender thereof for
redemption, the principal (and premium, if any) shall, until paid, bear interest from the
Redemption Date at the rate prescribed therefor in the Security.

     Section 1106. Securities Redeemed in Part. Any Security which is to be redeemed only in part
shall be surrendered at a Place of Payment therefor (with, if the Company or the Trustee so
requires, due endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or his or her attorney duly authorized
in writing), and the Company shall execute, and the Trustee shall authenticate and deliver to the
Holder of such Security without service charge, a new Security or Securities of the same series, of
any authorized denomination as requested by such Holder, in aggregate principal amount equal to and
in exchange for the unredeemed portion of the principal of the Security so surrendered.

ARTICLE XII

SINKING FUNDS

     Section 1201. Applicability of Article. The provisions of this Article shall be applicable
to any sinking fund for the retirement of Securities of a series except as otherwise specified as
contemplated by Section 301 for Securities of such series.

     The minimum amount of any sinking fund payment provided for by the terms of Securities of any
series is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of
such minimum amount provided for by the terms of Securities of any series is herein referred to as
an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202.
Each sinking fund payment shall be applied to the redemption of Securities of any series as
provided for by the terms of Securities of such series.

     Section 1202. Satisfaction of Sinking Fund Payments With Securities. The Company (1) may
deliver Outstanding Securities of a series or Tranche (other than any previously called for
redemption) together, in the case of Unregistered Securities, with all unmatured coupons
appertaining thereto, and (2) may apply as a credit Securities of a series which have been redeemed
either at the election of the Company pursuant to the terms of such Securities or through the
application of permitted optional sinking fund payments pursuant to the terms of such Securities,
in each case in satisfaction of all or any part of any sinking fund payment with respect to the
Securities of such series required to be made pursuant to the terms of such

67

 

Securities as provided for by the terms of such series, provided that such Securities have not
been previously so credited. Such Securities shall be received and credited for such purpose by the
Trustee at the Redemption Price specified in such Securities for redemption through operation of
the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.

     Section 1203. Redemption of Securities for Sinking Fund. Not less than 45 days prior to each
sinking fund payment date for any series of Securities, or any Tranche thereof, the Company will
deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing sinking
fund payment for that series pursuant to the terms of that series, the portion thereof, if any,
which is to be satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied by delivering and crediting Securities of that series pursuant to Section 1202 and will
also deliver to the Trustee any Securities to be so delivered. If the Company has not delivered
such Officer’s Certificate and, to the extent applicable, all such Securities, the next succeeding
sinking fund payment for such series or Tranche shall be made entirely in cash in the amount of the
mandatory sinking fund payment. Not less than 30 days before each such sinking fund payment date
the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the
manner specified in Section 1103 and cause notice of the redemption thereof to be given in the name
of and at the expense of the Company in the manner provided in Section 1104. Such notice having
been duly given, the redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 1105 and 1106.

ARTICLE XIII

REPAYMENT OF SECURITIES AT OPTION OF HOLDERS

     Section 1301. Applicability of Article. Securities of any series or Tranche that are
repayable before their Stated Maturity at the option of the Holders shall be repayable in
accordance with their terms and (except as otherwise specified as contemplated by Section 301 for
Securities of any series) in accordance with this Article.

     Section 1302. Notice of Repayment Date. Notice of any Repayment Date with respect to
Securities of any series or Tranche thereof shall be given by the Company not less than 45 nor more
than 60 days prior to such Repayment Date (or at such other times as may be specified for such
repayment or repurchase pursuant to Section 301 of this Indenture) to each Holder of Securities of
such series in accordance with Section 106.

     The notice as to the Repayment Date shall state (unless otherwise specified for such repayment
or repurchase pursuant to Section 301 of this Indenture):

     (1) the Repayment Date, which date shall be no earlier than 30 days and no later than
60 days from the date on which such notice is mailed;

68

 

     (2) the principal amount of the Securities required to be repaid or repurchased and
the Repayment Price (or the formula pursuant to which the Repayment Price is to be
determined if the Repayment Price cannot be determined at the time the notice is given);

     (3) the place or places where such Securities are to be surrendered for payment of the
Repayment Price, and accrued interest, if any, and the date by which Securities must be so
surrendered in order to be repaid or repurchased;

     (4) that any Security not tendered or accepted for payment shall continue to accrue
interest;

     (5) that, unless the Company defaults in making such payment or the Paying Agent is
prohibited from paying such money to the Holders on that date pursuant to the terms of this
Indenture, Securities accepted for payment pursuant to any such offer of repayment or
repurchase shall cease to accrue interest after the Repayment Date;

     (6) that Holders electing to have a Security repaid or purchased pursuant to such
offer may elect to have all or any portion of such Security purchased;

     (7) that Holders electing to have a Security repaid or repurchased pursuant to any
such offer shall be required to surrender the Security, with such customary documents of
surrender and transfer as the Company may reasonably request, duly completed, or transfer by
book-entry transfer, to the Company or the Paying Agent at the address specified in the
notice at least two Business Days prior to the Repayment Date;

     (8) that Holders shall be entitled to withdraw their election if the Company or the
Paying Agent, as the case may be, receives, not later than the expiration of the offer to
repay or repurchase, a telegram, facsimile transmission or letter setting forth the name of
the Holder, the principal amount of the Security the Holder delivered for purchase and a
statement that such Holder is withdrawing its election to have such Security purchased;

     (9) that, in the case of a repayment or repurchase of less than all Outstanding
Securities of a series or Tranche thereof, the method of selection of Securities to be
repaid or repurchased to be applied by the Trustee if the principal amount of properly
tendered Securities exceeds the principal amount of the Securities to be repaid or
repurchased;

     (10) that Holders whose Securities are purchased only in part shall be issued new
Securities of the same series or Tranche thereof equal in principal amount to the
unpurchased portion of the Securities surrendered (or transferred by book-entry transfer);
and

     (11) the CUSIP or other identification number, if any, printed on the Securities being
repurchased and that no representation is made as to the correctness or accuracy of the
CUSIP or other identification number, if any, listed in such notice or printed on the
Securities.

69

 

     Section 1303. Securities Payable on Repayment Date. The form of option to elect repurchase
or repayment having been delivered as specified in the form of Security for such series, the
Securities of such series or Tranche so to be repaid (after application of the method of selection
described pursuant to clause (9) of Section 1302, if the principal amount of properly tendered
Securities exceeds the principal amount of the Securities to be repaid or repurchased) shall, on
the Repayment Date, become due and payable at the Repayment Price applicable thereto and from and
after such date (unless the Company shall default in the payment of the Repayment Price and accrued
interest) such Securities shall cease to bear interest. Upon surrender of any such Security for
repayment in accordance with said notice, such Security shall be paid by the Company at the
Repayment Price together with accrued interest, if any, to the Repayment Date; provided, however,
that if a Security is repaid or repurchased on or after a Record Date but on or prior to the Stated
Maturity of any installments of interest, then any accrued and unpaid interest due on such Stated
Maturity shall be payable to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record Dates according to their terms
and the provisions of Section 307.

     If any Security shall not be paid upon surrender thereof for repayment, the principal (and
premium, if any) shall, until paid, bear interest from the Repayment Date at the rate prescribed
therefor in such Security.

     Section 1304. Securities Repaid in Part. Any Security which by its terms may be repaid in
part at the option of the Holder and which is to be repaid only in part shall be surrendered at any
office or agency of the Company designated for that purpose pursuant to Section 1002 (with, if the
Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney
duly authorized in writing), and the Company shall execute, and the Trustee shall authenticate and
deliver to the Holder of such Security without service charge, a new Security or Securities of the
same series, as provided in Section 305, of any authorized denomination as requested by such
Holder, in aggregate principal amount equal to and in exchange for the unrepaid portion of the
principal of the Security so surrendered.

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

70

 

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

	 	 	 	 	 	 	 
	 	 	LODGENET INTERACTIVE CORPORATION	 	 
	 
	 	 	 	 	 	 
	[CORPORATE SEAL]
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	Attest:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

Secretary

	 	 	 	 	 	 

	 	 	 
	 
	 	 
	 
	STATE OF SOUTH DAKOTA

	 	) 
	 

	 	) ss:
	CITY AND COUNTY OF                     

	 	) 

     On the                      of                     , before me personally came                      to
 me
known, who, being by me duly sworn, did depose and say that he is                      of LODGENET
INTERACTIVE CORPORATION, one of the corporations described in and which executed the foregoing
instrument; that he knows the seal of said corporation; that the seal affixed to said instruments
is such corporate seal; that it was so affixed by authority of the By-Laws of said corporation, and
that he signed his name thereto by authority of the Board of Directors of said corporation.

71

 

LodgeNet Interactive Corporation

Reconciliation and tie between Trust Indenture Act of 1939 and

Indenture, dated as of                     

	 	 	 	 	 	 	 
	Trust Indenture	 	 	 	 
	Act Section	 	 	 	Indenture Sections
	§

	 	310(a)(1) 
	 	 	 	609 
	 

	 	      (a)(2)
	 	 	 	609 
	 

	 	      (a)(3)
	 	 	 	Not Applicable
	 

	 	      (a)(4)
	 	 	 	Not Applicable
	 

	 	      (a)(5)
	 	 	 	609 
	 

	 	      (b)
	 	 	 	608 
	 

	 	 	 	 	 	610 
	 

	 	      (c)
	 	 	 	Not Applicable
	§

	 	311(a) 
	 	 	 	613(a) 
	 

	 	      (b)
	 	 	 	613(b) 
	 

	 	      (c)
	 	 	 	Not Applicable
	§

	 	312(a) 
	 	 	 	701 
	 

	 	 	 	 	 	702(a) 
	 

	 	      (b)
	 	 	 	702(b) 
	 

	 	      (c)
	 	 	 	702(c) 
	§

	 	313(a) 
	 	 	 	703 
	 

	 	      (b)
	 	 	 	703 
	 

	 	      (c)
	 	 	 	703 
	 

	 	      (d)
	 	 	 	703 
	§

	 	314(a) 
	 	 	 	704 
	 

	 	      (b)
	 	 	 	Not Applicable
	 

	 	      (c)(1)
	 	 	 	102 
	 

	 	      (c)(2)
	 	 	 	102 
	 

	 	      (c)(3)
	 	 	 	Not Applicable
	 

	 	      (d)
	 	 	 	Not Applicable
	 

	 	      (e)
	 	 	 	102 
	 

	 	      (f)
	 	 	 	Not Applicable
	§

	 	315(a) 
	 	 	 	601(a) 
	 

	 	      (b)
	 	 	 	602 
	 

	 	 	 	 	 	703 
	 

	 	      (c)
	 	 	 	601(b) 
	 

	 	      (d)
	 	 	 	601(c) 
	 

	 	      (d)(l)
	 	 	 	601(a)(1) 
	 

	 	      (d)(2)
	 	 	 	601(c)(2) 
	 

	 	      (d)(3)
	 	 	 	601(c)(3) 
	 

	 	      (e)
	 	 	 	514 
	§

	 	316(a)(last sentence)
	 	 	 	101 
	 

	 	      (a)(1)(A)
	 	 	 	502 

A-1 

 

	 	 	 	 	 	 	 
	Trust Indenture	 	 	 	 
	Act Section	 	 	 	Indenture Sections
	 

	 	 	 	 	 	512 
	 

	 	      (a)(1)(B)
	 	 	 	513 
	 

	 	      (a)(2)
	 	 	 	Not Applicable
	 

	 	      (b)
	 	 	 	508 
	 

	 	      (c)
	 	 	 	104(g) 
	§

	 	317(a)(l) 
	 	 	 	503 
	 

	 	      (a)(2)
	 	 	 	504 
	 

	 	      (b)
	 	 	 	1003 
	§

	 	318(a) 
	 	 	 	107 

 

			
	Note:	 	This reconciliation and tie shall not, for any purpose, be deemed to be a part of the
Indenture.

A-2exv4w11

Exhibit 4.11

LODGENET INTERACTIVE CORPORATION,

[          ], AS DEPOSITARY

AND

THE HOLDERS FROM TIME TO TIME OF

THE DEPOSITARY RECEIPTS DESCRIBED HEREIN

DEPOSIT AGREEMENT

Dated as of [          ], [     ]

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page:
	ARTICLE 1 DEFINITIONS
	 	 	1	 
	 
	 	 	 	 
	Section 1.01. Definitions
	 	 	1	 
	ARTICLE 2 FORM OF RECEIPTS, DEPOSIT OF STOCK, EXECUTION AND DELIVERY, TRANSFER, SURRENDER AND
REDEMPTION OF RECEIPTS
	 	 	2	 
	 
	 	 	 	 
	Section 2.01. Form and Transfer of Receipts
	 	 	2	 
	Section 2.02. Deposit of Stock; Execution and Delivery of Receipts in Respect Thereof
	 	 	3	 
	Section 2.03. Registration of Transfer of Receipts
	 	 	4	 
	Section 2.04. Split-Ups and Combinations of Receipts; Surrender of Receipts and Withdrawal
of Stock
	 	 	4	 
	Section 2.05. Limitations on Execution and Delivery, Transfer, Surrender and Exchange of
Receipts
	 	 	5	 
	Section 2.06. Lost Receipts, Etc.
	 	 	5	 
	Section 2.07. Cancellation and Destruction of Surrendered Receipts
	 	 	5	 
	Section 2.08. Redemption of Stock
	 	 	5	 
	ARTICLE 3 CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE CORPORATION
	 	 	7	 
	 
	 	 	 	 
	Section 3.01. Filing Proofs, Certificates and Other Information
	 	 	7	 
	Section 3.02. Payment of Taxes or Other Governmental Charges
	 	 	7	 
	Section 3.03. Warranty as to Stock
	 	 	7	 
	ARTICLE 4 THE DEPOSITED SECURITIES; NOTICES
	 	 	7	 
	 
	 	 	 	 
	Section 4.01. Cash Distributions
	 	 	7	 
	Section 4.02. Distributions Other Than Cash, Rights, Preferences or Privileges
	 	 	8	 
	Section 4.03. Subscription Rights, Preferences or Privileges
	 	 	8	 
	Section 4.04. Notice of Dividends, Etc.; Fixing Record Date for Holders of Receipts
	 	 	9	 
	Section 4.05. Voting Rights
	 	 	9	 
	Section 4.06. Changes Affecting Deposited Securities and Reclassifications,
Recapitalizations, Etc.
	 	 	9	 
	Section 4.07. Delivery of Reports
	 	 	10	 
	Section 4.08. List of Receipt Holders
	 	 	10	 
	ARTICLE 5 THE DEPOSITARY, THE DEPOSITARY’S AGENTS, THE REGISTRAR AND THE CORPORATION
	 	 	10	 
	 
	 	 		 
	Section 5.01. Maintenance of Offices, Agencies and Transfer Books by the Depositary;
Registrar
	 	 	10	 
	Section 5.02. Prevention of or Delay in Performance by the Depositary, the Depositary’s
Agents, the Registrar or the Corporation
	 	 	11	 
	Section 5.03. Obligation of the Depositary, the Depositary’s Agents, the Registrar and the
Corporation
	 	 	11	 
	Section 5.04. Resignation and Removal of the Depositary; Appointment of Successor
Depositary
	 	 	13	 
	Section 5.05. Corporate Notices and Reports
	 	 	14	 

i

 

	 	 	 	 	 
	 	 	Page:
	Section 5.06. Indemnification by the Corporation
	 	 	14	 
	Section 5.07. Charges and Expenses
	 	 	14	 
	Section 5.08. Tax Compliance
	 	 	14	 
	ARTICLE 6 AMENDMENT AND TERMINATION
	 	 	15	 
	 
	 	 	 	 
	Section 6.01. Amendment
	 	 	15	 
	Section 6.02. Termination
	 	 	15	 
	ARTICLE 7 MISCELLANEOUS
	 	 	16	 
	 
	 	 	 	 
	Section 7.01. Counterparts
	 	 	16	 
	Section 7.02. Exclusive Benefit of Parties
	 	 	16	 
	Section 7.03. Invalidity of Provisions
	 	 	16	 
	Section 7.04. Notices
	 	 	16	 
	Section 7.05. Appointment of Registrar
	 	 	17	 
	Section 7.06. Holders of Receipts are Parties
	 	 	17	 
	Section 7.07. Governing Law
	 	 	17	 
	Section 7.08. Inspection of Deposit Agreement
	 	 	17	 
	Section 7.09. Headings
	 	 	17	 

ii

 

     DEPOSIT AGREEMENT, dated as of [  ], [  ], among LODGENET INTERACTIVE CORPORATION, a
Delaware corporation (the “Corporation”), [     ], a [     ] (the
“Depositary”), and the holders from time to time of the Receipts described herein.

     WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the
deposit of shares of [ % Preferred Stock], par value $.01 per share, of the Corporation with the
Depositary for the purposes set forth in this Deposit Agreement and for the issuance hereunder of
Receipts evidencing Depositary Shares in respect of the Stock so deposited; and

     WHEREAS, the Receipts are to be substantially in the form of Annex A annexed hereto, with
appropriate insertions, modifications and omissions, as hereinafter provided in this Deposit
Agreement;

     NOW THEREFORE, in consideration of the promises contained herein, the parties agree as
follows:

ARTICLE 1 — DEFINITIONS

     Section 1.01. Definitions. The following definitions shall, for all purposes, unless
otherwise indicated, apply to the respective terms used in this Deposit Agreement:

     “Certificate of Designation” means the Certificate of Designation of the Corporation
establishing the Stock as a series of preferred stock of the Corporation.

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

     “Depositary” means [     ], and any successor as Depositary hereunder.

     “Depositary Shares” means Depositary Shares, each representing [     ] of a share of Stock and
evidenced by a Receipt.

     “Depositary’s Agent” means an agent appointed by the Depositary pursuant to Section 5.01 and
includes the Registrar if such Registrar is not the Depositary.

     “Depositary’s Office” means the principal office of the Depositary, at which at any particular
time its depositary receipt business is administered.

     “Receipt” means one of the Depositary Receipts, substantially in the form set forth as Annex A
hereto, issued hereunder, whether in definitive or temporary form and evidencing the number of
Depositary Shares held of record by the record holder of such Depositary Shares.

     “Record holder” or “holder” as applied to a Receipt means the person in whose name a Receipt
is registered on the books of the Depositary maintained for such purpose.

 

     “Registrar” means the Depositary or such other bank or trust company appointed to register
ownership and transfers of Receipts as herein provided.

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

     “Stock” means shares of the Corporation’s [ % Preferred Stock], $.01 par value per share.

ARTICLE 2 — FORM OF RECEIPTS, DEPOSIT OF STOCK, EXECUTION
AND 

DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF RECEIPTS

     Section 2.01. Form and Transfer of Receipts. Definitive Receipts shall be engraved or
printed or lithographed on steel-engraved borders, with appropriate insertions, modifications and
omissions, as hereinafter provided, if required by any securities exchange on which the Receipts
are listed. Pending the preparation of definitive Receipts or if definitive Receipts are not
required by any securities exchange on which the Receipts are listed, the Depositary, upon the
written order of the Corporation or any holder of Stock, as the case may be, delivered in
compliance with Section 2.02, shall execute and deliver temporary Receipts which are printed,
lithographed, typewritten, mimeographed or otherwise substantially of the tenor of the definitive
Receipts in lieu of which they are issued and with such appropriate insertions, omissions,
substitutions and other variations as the persons executing such Receipts may determine, as
evidenced by their execution of such Receipts. If temporary Receipts are issued, the Corporation
and the Depositary shall cause definitive Receipts to be prepared without unreasonable delay.
After the preparation of definitive Receipts, the temporary Receipts will be exchangeable for
definitive Receipts upon surrender of the temporary Receipts at the Depositary’s Office or at such
other place or places as the Depositary may determine, without charge to the holder. Upon
surrender for cancellation of any one or more temporary Receipts, the Depositary shall execute and
deliver in exchange therefor definitive Receipts representing the same number of Depositary Shares
as represented by the surrendered temporary Receipt or Receipts. Such exchange will be made at the
Corporation’s expense and without any charge to the holder therefor. Until so exchanged, the
temporary Receipts will be entitled in all respects to the same benefits under this Deposit
Agreement, and with respect to the Stock, as definitive Receipts.

     The Depositary shall execute the Receipts by the manual signature of a duly authorized officer
of the Depositary, provided that such signature may be a facsimile if a Registrar for the Receipts
(other than the Depositary) has been appointed and such Receipts are countersigned by a manual
signature of a duly authorized officer of the Registrar. No Receipt will be entitled to any
benefits under this Deposit Agreement or be valid or obligatory for any purpose unless it has been
executed manually by a duly authorized officer of the Depositary or, if a Registrar for the
Receipts (other than the Depositary) has been appointed, by manual or facsimile signature of a duly
authorized officer of the Depositary and countersigned, manually, by a duly authorized officer of
such Registrar. The Depositary shall record on its books each Receipt so signed and delivered
as hereinafter provided.

     Receipts will be in denominations of any number of whole Depositary Shares. The Corporation
shall deliver to the Depositary from time to time such quantities of Receipts as the

2

 

Depositary may
request to enable the Depositary to perform its obligations under this Deposit Agreement.

     Receipts may be endorsed with or have incorporated in the text thereof such legends or
recitals or changes not inconsistent with the provisions of this Deposit Agreement as may be
required by the Depositary or required to comply with any applicable law or any regulation
thereunder or with the rules and regulations or any securities exchange upon which the Stock, the
Depositary Shares or the Receipts may be listed or to conform with any usage with respect thereto,
or to indicate any special limitations or restrictions to which any particular Receipts are
subject.

     Title to Depositary Shares evidenced by a Receipt, which is properly endorsed or accompanied
by a properly executed instrument of transfer, are transferable by delivery with the same effect as
in the case of a negotiable instrument; provided, however, that until transfer of a Receipt has
been registered on the books of the Depositary as provided in Section 2.03, the Depositary may,
notwithstanding any notice to the contrary, treat the record holder thereof at such time as the
absolute owner thereof for the purpose of determining the person entitled to distributions of
dividends or other distributions or to any notice provided for in this Deposit Agreement and for
all other purposes.

     Section 2.02. Deposit of Stock; Execution and Delivery of Receipts in Respect Thereof.
Subject to the terms and conditions of this Deposit Agreement, the Corporation or any holder of
Stock may from time to time deposit shares of the Stock under this Deposit Agreement by delivery to
the Depositary of a certificate or certificates for the Stock to be deposited, properly endorsed or
accompanied, if required by the Depositary, by a duly executed instrument of transfer or
endorsement, in form satisfactory to the Depositary, together with all such certifications as may
be required by the Depositary in accordance with the provisions of this Deposit Agreement, and
together with a written order of the Corporation or the holder, as the case may be, directing the
Depositary to execute and deliver to, or upon the written order to, the person or persons stated in
such order a Receipt or Receipts for the number of Depositary Shares representing such deposited
Stock.

     The Depositary shall hold the Deposited Stock at the Depositary’s Office or at such other
place or places as the Depositary may determine.

     Upon receipt by the Depositary of a certificate or certificates for Stock deposited in
accordance with the provisions of this Section 2.02, together with the other documents required as
above specified, and upon recordation of the Stock on the books of the Corporation in the name of
the Depositary or its nominee, the Depositary, subject to the terms and conditions of this Deposit
Agreement, shall execute and deliver, to or upon the order of the person or persons named in the
written order delivered to the Depositary referred to in the first paragraph of this Section 2.02,
a
Receipt or Receipts for the whole number of Depositary Shares representing the Stock so
deposited and registered in such name or names as may be requested by such person or persons. The
Depositary shall execute and deliver such Receipt or Receipts at the Depositary’s Office or such
other offices, if any, as the Depositary may designate. Delivery at other offices will be at the
risk and expense of the person requesting such delivery.

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     Section 2.03. Registration of Transfer of Receipts. Subject to the terms and
conditions of this Deposit Agreement, the Depositary shall register on its books from time to time
transfers of Receipts upon any surrender thereof by the holder in person or by duly authorized
attorney, properly endorsed or accompanied by a properly executed instrument of transfer.
Thereupon, the Depositary shall execute a new Receipt or Receipts evidencing the same aggregate
number of Depositary Shares as those evidenced by the Receipt or Receipts surrendered and deliver
such new Receipts or Receipts to or upon the order of the person entitled thereto.

     Section 2.04. Split-Ups and Combinations of Receipts; Surrender of Receipts and
Withdrawal of Stock. Upon surrender of a Receipt or Receipts at the Depositary’s Office or at
such other offices as it may designate for the purpose of effecting a split-up or combination of
such Receipts or Receipts, and subject to the terms and conditions of this Deposit Agreement, the
Depositary shall execute and deliver a new Receipt or Receipts in the authorized denomination or
denominations requested, evidencing the aggregate number of Depositary Shares evidenced by the
Receipt or Receipts surrendered; provided, however, that the Depositary shall not issue any Receipt
evidencing a fractional Depositary Share.

     Any holder of a Receipt or Receipts representing any number of whole shares of Stock may
(unless the related Depositary Shares have previously been called for redemption) withdraw the
Stock and all money and other property, if any, represented thereby by surrendering such Receipt or
Receipts, at the Depositary’s Office or at such other offices as the Depositary may designate for
such withdrawals. Thereafter, without unreasonable delay, the Depositary shall deliver to such
holder or to the person or persons designated by such holder as hereinafter provided, the number of
whole shares of Stock and all money and other property, if any, represented by the Receipt or
Receipts so surrendered for withdrawal, but holders of such whole shares of Stock will not
thereafter be entitled to deposit such Stock hereunder or to receive Depositary Shares therefor.
If a Receipt delivered by the holder to the Depositary in connection with such withdrawal evidences
a number of Depositary Shares representing the number of whole shares of Stock to be so withdrawn,
the Depositary shall at the same time, in addition to such number of whole shares of Stock and such
money and other property, if any, to be so withdrawn, deliver to such holder, or upon the holder’s
order, a new Receipt evidencing such excess number of Depositary Shares; provided, however, that
the Depositary shall not issue any Receipt evidencing a fractional Depositary Share. Delivery of
the Stock and money and other property being withdrawn may be made by the delivery of such
certificates, documents of title and other instruments as the Depositary may deem appropriate
which, if required by the Depositary, must be properly endorsed or accompanied by proper
instruments of transfer.

     If any of the Stock, the money or other property being withdrawn is to be delivered to a
person or persons other than the record holder of the Receipt or Receipts being surrendered for
withdrawal of Stock, the holders shall execute and deliver to the Depositary a written order so
directing the Depositary and the Depositary may require that the Receipt or Receipts surrendered by
the holder for withdrawal of such shares of Stock be properly endorsed in blank or accompanied by a
properly executed instrument of transfer in blank.

     The Depositary shall deliver the Stock, the money or other property, if any, represented by
Receipts surrendered for withdrawal at the Depositary’s Office, except that, at the request, risk
and

4

 

expense of the holder surrendering such Receipt or Receipts and for the account of the holder
thereof, the delivery may be made at such other place as the holder may designate.

     Section 2.05. Limitations on Execution and Delivery, Transfer, Surrender and Exchange of
Receipts. As a condition precedent to the execution and delivery, registration of transfer,
split-up, combination, surrender or exchange of any Receipt, the Depositary, any of the
Depositary’s Agents or the Corporation may require (i) payment to it of a sum sufficient for the
payment (or, in the event that the Depositary or the Corporation have made such payment, the
reimbursement to it) of any charges or expenses payable by the holder of a Receipt pursuant to
Sections 3.02 and 5.07, (ii) the production of evidence satisfactory to it as to the identity and
genuineness of any signature, and (iii) compliance with such regulations, if any, as the Depositary
or the Corporation may establish consistent with the provisions of this Deposit Agreement.

     The deposit of Stock may be refused, the delivery of Receipts against Stock may be suspended,
the registration of transfer of Receipts may be refused and the registration of transfer, surrender
or exchange of outstanding Receipts may be suspended (i) during any period when the register of
stockholders of the Corporation is closed, (ii) if any such action is deemed necessary or advisable
by the Depositary, any of the Depositary’s Agents or the Corporation, at any time because of any
requirement of law or of any government or governmental body or commission or under any provision
of this Deposit Agreement, or (iii) with the approval of the Corporation, for any other reason.

     Section 2.06. Lost Receipts, Etc. In case any Receipt has been mutilated, destroyed,
lost or stolen, the Depositary in its discretion may execute and deliver a Receipt of like form and
tenor in exchange and substitution for the mutilated Receipt, or in lieu of and in substitution for
the destroyed, lost or stolen Receipt, upon (i) the filing by the holder thereof with the
Depositary of evidence satisfactory to the Depositary of such destruction or loss or theft of the
Receipt, of the authenticity thereof and of the holder’s ownership thereof, (ii) the furnishing of
the Depositary with reasonable indemnification satisfactory to it and (iii) the payment of any
expense (including fees, charges and expenses of the Depositary) in connection with such execution
and delivery.

     Section 2.07. Cancellation and Destruction of Surrendered Receipts. The Depositary
shall
cancel all Receipts surrendered to the Depositary or any Depositary’s Agent. Except as
prohibited by applicable law or regulation, the Corporation is authorized to destroy all Receipts
so canceled.

     Section 2.08. Redemption of Stock. Whenever the Corporation is permitted and elects
to redeem shares of Stock in accordance with the provisions of the Certificate of Designation, the
Corporation shall (unless otherwise agreed to in writing with the Depositary) give or cause to be
given to the Depositary not less than 30 days’ and not more than 60 days’ notice of the date of the
proposed redemption of Stock and of the number of the shares held by the Depositary to be so
redeemed and the applicable redemption price, as set forth in the Certificate of Designation, which
notice must be accompanied by Certificate of Designation from the Corporation stating that the
redemption of Stock is in accordance with the

5

 

provisions of the Certificate of Designation. On the
date of the redemption, provided that the Corporation has then paid or caused to be paid in full to
the Depositary the redemption price of the Stock to be redeemed, plus an amount equal to any
accrued and unpaid dividends thereon to the date fixed for redemption, in accordance with the
provisions of the Certificate of Designation, the Depositary shall redeem the number of Depositary
Shares representing such Stock. The Depositary shall mail notice of the Corporation’s redemption
of Stock and the proposed simultaneous redemption of the number of Depositary Shares representing
the Stock to be redeemed by first class mail, postage prepaid, not less than 20 and not more than
50 days prior to the date fixed for redemption of the Stock and Depositary Shares (the “Redemption
Date”) to the record holders of the Receipts evidencing the Depositary Shares to be so redeemed, at
the addresses of such holders as they appear on the records of the Depositary. Neither a failure
to mail notice of redemption of Depositary Shares to one or more holders nor any defect in a notice
of redemption of Depositary Shares to one or more holders will affect the sufficiency of the
proceedings for redemption as to the other holders. The Corporation shall provide the Depositary
with the information necessary for the Depositary to prepare a redemption notice and each such
notice must state: (i) the Redemption Date; (ii) the number of Depositary Shares to be redeemed
and, if less than all the Depositary Shares held by any such holder are to be redeemed, the number
of such Depositary Shares held by such holder to be so redeemed; (iii) the redemption price; (iv)
the place or places where Receipts evidencing Depositary Shares are to be surrendered for payment
of the redemption price; and (v) that dividends in respect of the Stock represented by the
Depositary Shares to be redeemed will cease to accrue on such Redemption Date. In case less than
all the outstanding Depositary Shares are to be redeemed, the Depositary shall select the
Depositary Shares to be so redeemed by lot or pro rata (as nearly as may be) or by any other
method, in each case, as determined by the Depositary in its sole discretion to be equitable.

     Notice having been mailed by the Depositary as aforesaid, from and after the Redemption Date
(unless the Corporation has failed to provide the funds necessary to redeem the Stock evidenced by
the Depositary Shares called for redemption) (i) dividends on the shares of Stock so called for
redemption will cease to accrue from and after such date, (ii) the Depositary Shares being redeemed
from such proceeds will be deemed no longer to be outstanding, (iii) all rights of the holders of
Receipts evidencing such Depositary Shares (except the right to receive the redemption price) will,
to the extent of such Depositary Shares, cease and terminate, and (iv) upon surrender in accordance
with the redemption notice of the Receipts evidencing any Depositary Shares called for redemption
(properly endorsed or assigned for transfer, if the Depositary or applicable law so
requires), the Depositary shall redeem the Depositary Shares at a redemption price per
Depositary Share equal to one-[     ] of the redemption price per share paid with respect to the shares
of Stock plus all money and other property, if any, represented by such Depositary Shares,
including all amounts paid by the Corporation in respect of dividends which on the Redemption Date
have accumulated on the shares of Stock to be so redeemed and have not theretofore been paid.

     If fewer than all of the Depositary Shares evidenced by a Receipt are called for redemption,
the Depositary shall deliver to the holder of such Receipt upon its surrender to the Depositary,
together with the redemption payment, a new Receipt evidencing the Depositary Shares evidenced by
such prior Receipt and not called for redemption.

6

 

ARTICLE 3 — CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE CORPORATION

     Section 3.01. Filing Proofs, Certificates and Other Information. Any holder of a
Receipt may be required from time to time to file such proof of residence, or other matters or
other information, to execute such certificates and to make such representations and warranties as
the Depositary or the Corporation may reasonably deem necessary or proper. The Depositary or the
Corporation may withhold the delivery, or delay the registration of transfer, redemption or
exchange, of any Receipt or the withdrawal or conversion of the Stock represented by the Depositary
Shares evidenced by any Receipt or the distribution of any dividend or other distribution or the
sale of any rights or of the proceeds thereof until such proof or other information is filed or
such certificates are executed or such representations and warranties are made.

     Section 3.02. Payment of Taxes or Other Governmental Charges. Holders of Receipts
shall pay the Depositary certain charges and expenses, as provided in Section 5.07. Registration of
transfer of any Receipt or any withdrawal of Stock and all money or other property, if any,
represented by the Depositary Shares evidenced by such Receipt may be refused until any such
payment due is made, and any dividends, interest payments or other distributions may be withheld or
any part of or all the Stock or other property represented by the Depositary Shares evidenced by
such Receipt and not theretofore sold may be sold for the account of the holder thereof (after
attempting by reasonable means to notify such holder prior to such sale), and the dividends,
interest payments or other distributions or the proceeds of such sale may be applied to any payment
of such charges or expenses, the holder of such Receipt remaining liable for any deficiency.

     Section 3.03. Warranty as to Stock. The Corporation hereby represents and warrants
that the Stock, when issued, will be duly authorized, validly issued, fully paid and nonassessable.
Such representation and warranty survives the deposit of the Stock and the issuance of the
Receipts.

ARTICLE 4 — THE DEPOSITED SECURITIES; NOTICES

     Section 4.01. Cash Distributions. Whenever the Depositary receives any cash dividend
or other cash distribution on Stock, the Depositary shall, subject to Sections 3.01 and 3.02,
distribute to record holders of Receipts on the record date fixed pursuant to Section 4.04 such
amounts of the dividend or distribution as are, as nearly as practicable, in proportion to the
respective numbers of Depositary Shares evidenced by the Receipts held by such holders; provided,
however, that if the Corporation or the Depositary is required to withhold and withholds from any
cash dividend or other cash distribution in respect of the Stock an amount on account of taxes or
as otherwise required by law, regulation or court process, the amount made available for
distribution or distributed in respect of Depositary Shares will be reduced accordingly. In the
event that the calculation of any such cash dividend or other cash distribution to be paid to any
record holder on the aggregate number of Depositary Receipts held by such the holder results in an
amount which is a fraction of a cent, the Depositary shall round to the next highest whole cent the
amount to be distributed to such record holder. Upon request of the Depositary, the Corporation
shall pay the additional amount to the Depositary for distribution.

7

 

     Section 4.02. Distributions Other Than Cash, Rights, Preferences or Privileges.
Whenever the Depositary receives any distribution other than cash, rights, preferences or
privileges upon Stock, the Depositary shall, subject to Sections 3.01 and 3.02, distribute to
record holders of Receipts on the record date fixed pursuant to Section 4.04 such amounts of the
securities or property received by it as are, as nearly as practicable, in proportion to the
respective numbers of Depositary Shares evidenced by the Receipts held by such holders, in any
manner that the Depositary may deem equitable and practicable for accomplishing the distribution.
If in the opinion of the Depositary such distribution cannot be made proportionately among such
record holders, or if for any other reason (including any requirement that the Corporation or the
Depositary withhold an amount on account of taxes) the Depositary deems such distribution not
feasible, the Depositary may adopt such method as it deems equitable and practicable for the
purpose of effecting the distribution, including the sale (public or private) of the securities or
property thus received, or any part thereof, at such places and upon such terms as it may deem
proper. Subject to Section 3.01 and 3.02, the Depositary shall distribute or make available for
distribution the net proceeds of any such sale, as the case may be, to record holders of Receipts
as provided by Section 4.01 in the case of a distribution received in cash.

     Section 4.03. Subscription Rights, Preferences or Privileges. If the Corporation at
any time offers or causes to be offered to the persons in whose names Stock is recorded on the
books of the Corporation any rights, preferences or privileges to subscribe for or to purchase any
securities or any rights, preferences or privileges of any other nature, the Depositary shall in
each such instance make available such rights, preferences or privileges to the record holders of
Receipts in such manner as the Depositary may determine, either by the issue to such record holders
of warrants representing such rights, preferences or privileges or by such other method as may be
approved by the Depositary in its discretion with the approval of the Corporation; provided,
however, that (i) if
at the time of issue or offer of any such rights, preferences or privileges the Depositary
determines that it is not lawful or (after consultation with the Corporation) not feasible to make
such rights, preferences or privileges available to the holders of Receipts by the issue of
warrants or otherwise, or (ii) if and to the extent so instructed by holders of Receipts who do not
desire to exercise rights, preferences or privileges, then the Depositary, in its discretion (with
approval of the Corporation, in any case where the Depositary has determined that it is not
feasible to make such rights, preferences or privileges available), may, if applicable laws or the
terms of such rights, preferences or privileges permit such transfer, sell such rights, preferences
or privileges at public or private sale, at such places an upon such terms as it may deem proper.
Subject to Sections 3.01 and 3.02, the Depositary shall distribute the net proceeds of any such
sale to the record holders of Receipts entitled thereto as provided by Section 4.01 in the case of
a distribution received in cash.

     If registration under the Securities Act of the securities to which any rights, preferences or
privileges relate is required in order for holders of Receipts to be offered or sold the securities
to which such rights, preferences or privileges relate, the Corporation shall file promptly a
registration statement pursuant to the Securities Act with respect to such rights, preferences or
privileges and securities and use its best efforts and take all steps available to it to cause such
registration statement to become effective sufficiently in advance of the expiration of such
rights, preferences or privileges to enable such holders to exercise such rights, preferences or
privileges. In no event shall the Depositary make available to the holders of Receipts any right,
preference or privilege to subscribe for or to purchase any securities unless and until it has
received written notice from the

8

 

Corporation that such registration statement has become effective,
or that the offering and sale of such securities to such holders are exempt from registration under
the provisions of the Securities Act and the Corporation has provided to the Depositary an opinion
of counsel to such effect.

     If any other action under the laws of any jurisdiction or any governmental or administrative
authorization, consent or permit is required in order to for such rights, preferences or privileges
to be made available to holders of Receipts, the Corporation shall use its reasonable best efforts
to take such action or obtain such authorization, consent or permit sufficiently in advance of the
expiration of such rights, preferences or privileges to enable such holders to exercise such
rights, preferences or privileges.

     Section 4.04. Notice of Dividends, Etc.; Fixing Record Date for Holders of Receipts.
Whenever any cash dividend or other cash distribution becomes payable or any distribution other
than cash is made, or if rights, preferences or privileges are at any time offered, with respect to
Stock, or whenever the Depositary receives notice of any meeting at which holders of Stock are
entitled to vote or of which holders of Stock are entitled to notice, or whenever the Depositary
and the Corporation decide it is appropriate, the Depositary shall in each such instance fix a
record date (which will be the same date as the record date fixed by the Corporation with respect
to or otherwise in accordance with the terms of the Stock) for the determination of the holders of
Receipts who are entitled to receive such dividend, distribution, rights, preferences or privileges
or the net proceeds of the sale thereof, or to give instructions for the exercise of voting rights
at any such meeting, or who are entitled to notice of such meeting or for any other appropriate
reasons.

     Section 4.05. Voting Rights. Upon receipt of notice of any meeting at which holders
of Stock are entitled to vote, the Depositary shall, as soon as practicable thereafter, mail to the
record holders of Receipts a notice which will contain (i) such information as is contained in such
notice of meeting and (ii) a statement that the holders may, subject to any applicable
restrictions, instruct the Depositary as to the exercise of the voting rights pertaining to the
amount of Stock represented by their respective Depositary Shares (including an express indication
that instructions may be given to the Depositary to give a discretionary proxy to a person
designated by the Corporation) and a brief statement as to the manner in which such instructions
may be given. Upon the written request of the holders of Receipts on the relevant record date, the
Depositary shall endeavor insofar as practicable to vote or cause to be voted, in accordance with
the instructions set forth in such requests, the maximum number of whole shares of Stock
represented by the Depositary Shares evidenced by all Receipts as to which any particular voting
instructions are received. The Corporation shall take all reasonable action which may be deemed
necessary by the Depositary in order to enable the Depositary to vote such Stock or cause such
Stock to be voted. In the absence of specific instructions from the holder of a Receipt, the
Depositary shall not vote (but, at its discretion, may appear at any meeting with respect to such
Stock unless directed to the contrary by the holders of all the Receipts) to the extent of the
Stock represented by the Depositary Shares evidenced by such Receipt.

     Section 4.06. Changes Affecting Deposited Securities and Reclassifications,
Recapitalizations, Etc. Upon any change in par or stated value or liquidation preference,
split-up, combination or any other reclassification of the Stock, or upon any recapitalization,
reorganization, merger, statutory share exchange or consolidation affecting the Corporation or to
which it is a

9

 

party, the Depositary may in its discretion with the approval of, and shall upon the
instructions of, the Corporation, and (in either case) in such manner as the Depositary may deem
equitable, (i) make such adjustments as are certified by the Corporation in the fraction of an
interest represented by one Depositary Share in one share of Stock as may be necessary fully to
reflect the effects of such change in par or stated value or liquidation preference, split-up,
combination or other reclassification of Stock, or of such recapitalization, reorganization,
merger, share exchange or consolidation and (ii) treat any securities which are received by the
Depositary in exchange for or upon conversion or in respect of the Stock as new deposited
securities so received in exchange for or upon conversion or in respect of such Stock. In any such
case the Depositary may in its discretion, with the approval of the Corporation, execute and
deliver additional Receipts or may call for the surrender of all outstanding Receipts to be
exchanged for new Receipts specifically describing such new deposited securities. Anything to the
contrary herein notwithstanding, holders of Receipts have the right from and after the effective
date of any such change in par or stated value or liquidation preference, split-up, combination or
other reclassification of the Stock or any such recapitalization, reorganization, merger, share
exchange or consolidation to surrender such Receipts to the Depositary with instructions to
convert, exchange or surrender the Stock represented thereby only into or for, as the case may be,
the kind and amount of shares of stock and other securities and property and cash into which the
Stock represented by such Receipts might have been converted or for which such Stock might have
been exchanged or surrendered immediately prior to the effective date of such transaction.

     Section 4.07. Delivery of Reports. The Depositary shall furnish to holders of
Receipts any reports and communications received from the Corporation which are received by the
Depositary as the holder of Stock.

     Section 4.08. List of Receipt Holders. Promptly upon request from time to time by
the Corporation, the Depositary shall furnish to it a list, as of the most recent practicable date,
of the names, addresses and holdings of Depositary Shares of all record holders of Receipts. The
Corporation is entitled to receive such list twice annually without charge.

ARTICLE 5 — THE DEPOSITARY, THE DEPOSITARY’S AGENTS, THE REGISTRAR AND THE CORPORATION

     Section 5.01. Maintenance of Offices, Agencies and Transfer Books by the Depositary;
Registrar. Upon execution of this Deposit Agreement, the Depositary shall maintain at the
Depositary’s Office, facilities for the execution and delivery, registration and registration of
transfer, surrender and exchange of Receipts, and at the offices of the Depositary’s Agents, if
any, facilities for the delivery, registration of transfer, surrender and exchange of Receipts, all
in accordance with the provisions of this Deposit Agreement.

     The Depositary shall keep books at the Depositary’s Office for the registration and
registration of transfer of Receipts, which books during normal business hours will be open for
inspection by the record holders of Receipts, provided that any holder requesting to exercise such
right shall certify to the Depositary that the inspection is for a proper purpose reasonably
related to such person’s interest as an owner of Depositary Shares evidenced by the Receipts.

10

 

     The Depositary may close such books, at any time or from time to time, when deemed expedient
by it in connection with the performance of its duties hereunder.

     The Depositary may, with the approval of the Corporation, appoint a Registrar for registration
of the Receipts or the Depositary Shares evidenced thereby. If the Receipts or the Depositary
Shares evidenced thereby or the Stock represented by such Depositary Shares are listed on one or
more national stock exchanges, the Depositary shall appoint a Registrar (acceptable to the
Corporation) for registration of such Receipts or Depositary Shares in accordance with any
requirements of such exchange. The Registrar (which may be the Depositary if so permitted by the
requirements of any such exchange) may be removed and a substitute registrar appointed by the
Depositary upon the request or with the approval of the Corporation. If the Receipts, the
Depositary Shares or the Stock are listed on one or more other stock exchanges, the Depositary
shall, at the request and at the expense of the Corporation, arrange such facilities for the
delivery, registration, registration of transfer, surrender and exchange of such Receipts, such
Depositary Shares or such Stock as may be required by law or applicable stock exchange regulation.

     The Depositary may from time to time appoint Depositary’s Agents to act in any respect for the
Depositary for the purposes of this Deposit Agreement and may at any time appoint additional
Depositary’s Agents and vary or terminate the appointment of such Depositary’s Agents. The
Depositary shall notify the Corporation of any such action.

     Section 5.02. Prevention of or Delay in Performance by the Depositary, the Depositary’s
Agents, the Registrar or the Corporation. Neither the Depositary nor any Depositary’s Agent
nor the Registrar nor the Corporation shall incur any liability to any holder of any Receipt if by
reason of any provision of any present or future law, or regulation thereunder, of the United
States of America or of any other governmental authority or, in the case of the Depositary, the
Depositary’s Agent or the Registrar, by reason of any provision, present or future, of the
Corporation’s Certificate of Incorporation or by reason of any act of God or war or other
circumstance beyond the reasonable control of the relevant party, the Depositary, the Depositary’s
Agent, the Registrar or the Corporation is prevented, delayed or forbidden from, or subjected to
any penalty on account of, doing or performing any act or thing which the terms of this Deposit
Agreement provide to be done or performed, nor shall the Depositary, any Depositary’s Agent, the
Registrar or the Corporation incur liability to any holder of a Receipt (i) by reason of any
nonperformance or delay, caused as aforesaid, in the performance of any act or thing which the
terms of this Deposit Agreement provide to be done or performed, or (ii) by reason of any exercise
of, or failure to exercise, any discretion provided for in this Deposit Agreement except, in the
case of any such exercise or failure to exercise discretion not caused as aforesaid, if caused by
the negligence or willful misconduct of the party charged with such exercise or failure to
exercise.

     Section 5.03. Obligation of the Depositary, the Depositary’s Agents, the Registrar and
the Corporation. Neither the Depositary nor any Depositary’s Agent nor the Registrar nor the
Corporation assumes any obligation or shall be subject to any liability under this Deposit
Agreement or any Receipt to holders of Receipts other than for its negligence, willful misconduct
or bad faith.

11

 

     Neither the Depositary nor any Depositary’s Agent nor the Registrar nor the Corporation are
under any obligation to appear in, prosecute or defend any action, suit or other proceeding in
respect of the Stock, the Depositary Shares or the Receipts which in its opinion may involve it in
expense or liability unless indemnity satisfactory to it against all expense and liability is
furnished as often as may be required.

     Neither the Depositary nor any Depositary’s Agent nor the Registrar nor the Corporation shall
be liable for any action or any failure to act in reliance upon the written advice of legal counsel
or accountants, or information from any person presenting Stock for deposit, any holder of a
Receipt or any other person believed by it in good faith to be competent to give such information.
The Depositary, any Depositary’s Agent, the Registrar and the Corporation may each rely and are
each protected in acting upon any written notice, request, direction or other document believed by
it to be genuine and to have been signed or presented by the proper party or parties.

     The Depositary is not responsible for any failure to carry out any instruction to vote any of
the shares of Stock or for the manner or effect of any such vote made, as long as any such action
or non-action is in good faith. The Depositary undertakes, and any Registrar will be required to
undertake, to perform such duties and only duties as are specifically set forth in this Deposit
Agreement, and no implied covenants or obligations may be read into this Deposit Agreement against
the Depositary or any Registrar. The Depositary shall indemnify the Corporation and hold it
harmless from any loss, liability or expense (including the reasonable costs and expenses of
defending itself) which may arise out of acts performed or omitted by the Depositary, including
when such Depositary acts as Registrar, or the Depositary’s Agents in connection with this Deposit
Agreement due to its or their negligence, willful conduct or bad faith. The indemnification
obligations of the Depositary set forth in this Section 5.03 survives any termination of this
Deposit Agreement and any succession of any Depositary.

     The Depositary, its affiliates or subsidiaries, the Depositary’s Agents, and the Registrar may
own, buy, sell and deal in any class of securities of the Corporation and its affiliates and in
Receipts or Depositary Shares or become pecuniarily interested in any transaction in which the
Corporation or its affiliates may be interested or contract with or lend money to or otherwise act
as fully or as freely as if it were not the Depositary, its affiliate or subsidiary or Depositary’s
Agent or Registrar hereunder. The Depositary may also act as trustee, transfer agent or registrar
of any of the securities of the Corporation and its affiliates.

     It is intended that neither the Depositary nor any Depositary’s Agent nor the Registrar,
acting as the Depositary Agent or Registrar, as the case may be, is deemed to be an “issuer” of the
securities under the federal securities laws or applicable state securities laws, it being
expressly understood and agreed that the Depositary, any Depositary’s Agent and the Registrar are
acting only in a ministerial capacity as Depositary or Registrar for the Stock.

     Neither the Depositary (or its officers, directors, employees or agents) nor any Depositary’s
Agent nor the Registrar makes any representation or has any responsibility as to the validity of
the registration statement pursuant to which the Depositary Shares are registered under the
Securities Act, the Stock, the Depositary Shares or the Receipts (except for its counter-signature
thereon) or

12

 

any instruments referred to therein or herein, or as to the correctness of any
statement made therein or herein.

     The Depositary assumes no responsibility for the correctness of the description that appears
in the Receipts, which can be taken as a statement of the Corporation summarizing certain
provisions of this Deposit Agreement. Notwithstanding any other provision herein or in the
Receipts, the Depositary makes no warranties or representations as to the validity, genuineness or
sufficiency of any Stock at any time deposited with the Depositary hereunder or of the Depositary
Shares, as to the validity or sufficiency of this Deposit Agreement, as to the value of the
Depositary Shares or as to any right, title or interest of the record holders of Receipts in and to
the Depositary Shares. The Depositary shall not be accountable for the use or application by the
Corporation of the Depositary Shares or the Receipts or the proceeds thereof.

     Section 5.04. Resignation and Removal of the Depositary; Appointment of Successor
Depositary. The Depositary may at any time resign as Depositary hereunder by delivering notice
of its election to do so to the Corporation, such resignation to take effect upon the appointment
of a successor Depositary and its acceptance of such appointment as hereinafter provided.

     The Depositary may at any time be removed by the Corporation by notice of such removal
delivered to the Depositary, such removal to take effect upon the appointment of a successor
Depositary and its acceptance of such appointment as hereinafter provided.

     In case at any time the Depositary acting hereunder resigns or is removed, the Corporation
shall, within 60 days after the delivery of the notice of resignation or removal, as the case may
be, appoint a successor Depositary, which shall be a bank or trust company having its principal
office in the United States of America and having a combined capital and surplus of at least
$50,000,000. If no successor Depositary has been so appointed and has accepted appointment within
60 days after delivery of such notice, the resigning or removed Depositary may petition any court
of competent jurisdiction for the appointment of a successor Depositary. Every successor
Depositary shall execute and deliver to its predecessor and to the Corporation an instrument in
writing accepting its appointment hereunder, and thereupon such successor Depositary, without any
further act or deed, becomes fully vested with all the rights, powers, duties and obligations of
its predecessor and for all purposes will be the Depositary under this Deposit Agreement, and such
predecessor, upon payment of all sums due it and on the written request of the Corporation, shall
execute and deliver an instrument transferring to such successor all rights and powers of such
predecessor hereunder, shall duly assign, transfer and deliver all right, title and interest in the
Stock and any moneys or property held hereunder to such successor, and shall deliver to such
successor a list of the record holders of all outstanding Receipts and such records, books and
other information in its possession relating thereto. Any successor Depositary shall promptly mail
notice of its appointment to the record holders of Receipts.

     Any corporation into or with which the Depositary may be merged, consolidated or converted
will be the successor of such Depositary without the execution or filing of any document or any
further act, and notice thereof is not required hereunder. Such successor Depositary may
authenticate the Receipts in the name of the predecessor Depositary or in the name of the successor
Depositary.

13

 

     Section 5.05. Corporate Notices and Reports. The Corporation shall deliver to the
Depositary, and the Depositary shall, promptly after receipt thereof transmit to the record holders
of Receipts, in each case at the addresses recorded in the Depositary’s books, copies of all
notices and reports (including, without limitation, financial statements) required by law or by the
rules of any national securities exchange upon which the Stock, the Depositary Shares or the
Receipts are listed, to be furnished to the record holders of Receipts or otherwise determined to
be furnished. Such transmission will be at the Corporation’s expense and the Corporation shall
provide the Depositary with such number of copies of such documents as the Depositary may
reasonably request.

     Section 5.06. Indemnification by the Corporation. The Corporation shall indemnify
the
Depositary, any Depositary’s Agent and the Registrar against, and hold each of them harmless
from, any loss, liability or expense (including the reasonable costs and expenses of defending
itself) which may arise out of acts performed or omitted in connection with this Deposit Agreement
and the Receipts by the Depositary, any Registrar or any of their respective agents (including any
Depositary’s Agent), except for any liability arising out of negligence, willful misconduct or bad
faith on the part of any such person. The obligations of the Corporation set forth in this Section
5.06 survive any succession of any Depositary or Depositary’s Agent.

     Section 5.07. Charges and Expenses. The Corporation shall pay all transfer and other
taxes and governmental charges arising solely from the existence of the depositary arrangements.
The Corporation shall pay all charges of the Depositary in connection with the initial deposit of
the Stock and the initial issuance of the Depositary Shares, all withdrawals of shares of the Stock
by owners of Depositary Shares, and any redemption or exchange of the Stock at the option of the
Corporation. All other transfer and other taxes and governmental charges will be at the expense of
holders of Depositary Shares. If, at the request of a holder of Receipts, the Depositary incurs
charges or expenses for which it is not otherwise liable hereunder, such holder will be liable for
such charges and expenses. All other charges and expenses of the Depositary and any Depositary’s
Agent hereunder (including, in each case, reasonable fees and expenses of counsel) incident to the
performance of their respective obligations hereunder will be paid upon consultation and agreement
between the Depositary and the Corporation as to the amount and nature of such charges and
expenses. The Depositary shall present its statement for charges and expenses to the Corporation
at such intervals as the Corporation and the Depositary may agree.

     Section 5.08. Tax Compliance. The Depositary, on its own behalf and on behalf of the
Corporation shall comply with all applicable certification, information reporting and withholding
(including “backup” withholding) requirements imposed by applicable tax laws, regulations or
administrative practice with respect to (i) any payments made with respect to the Depositary Shares
or (ii) the issuance, delivery, holding, transfer, redemption or exercise of rights under the
Receipts or the Depositary Shares. Such compliance includes, without limitation, the preparation
and timely filing of required returns and the timely payment of all amounts required to be withheld
to the appropriate taxing authority or its designated agent.

     The Depositary shall comply with any direction received from the Corporation with respect to
the application of such requirements to particular
payments or holders or in other particular

14

 

circumstances, and may for purposes of this Deposit Agreement rely on any such direction in
accordance with the provisions of Section 5.03 hereof.

     The Depositary shall maintain all appropriate records documenting compliance with such
requirements, and shall make such records available on request to the Corporation or to its
authorized representatives.

ARTICLE 6 — AMENDMENT AND TERMINATION

     Section 6.01. Amendment. The form of the Receipts and any provisions of this Deposit
Agreement may at any time and from time to time be amended by agreement between the Corporation and
the Depositary in any respect which they may deem necessary or desirable; provided, however, that
no amendment (other than any change in the fees of any Depositary or Registrar, which will go into
effect not sooner than three months after notice thereof to the holders of the Receipts) which may
materially and adversely alter the rights of the holders of Receipts will be effective unless such
amendment has been approved by the holders of at least a majority of the Depositary Shares then
outstanding. Every holder of an outstanding Receipt at the time any such amendment becomes
effective will be deemed, by continuing to hold such Receipt, to consent and agree to such
amendment and to be bound by the Deposit Agreement as amended thereby.

     Section 6.02. Termination. This Deposit Agreement may be terminated by the
Corporation or the Depositary only after (i) all outstanding Depositary Shares have been redeemed
pursuant to Section 2.08 or (ii) a final distribution has been made in respect of the Stock in
connection with any liquidation, dissolution or winding-up of the Corporation and such distribution
has been distributed to the holders of Depositary Receipts pursuant to Sections 4.01 or 4.02, as
applicable.

     If any Receipts remain outstanding after the date of termination of this Deposit Agreement,
the Depositary thereafter shall discontinue the transfer of Receipts, shall suspend the
distribution of dividends to the holders thereof and shall not give any further notices (other than
notice of such termination) or perform any further acts under this Deposit Agreement, except that
the Depositary shall continue to collect dividends and other distributions pertaining to Stock,
shall sell rights, preferences or privileges as provided in this Deposit Agreement and shall
continue to deliver the Stock and any money and other property represented by Receipts upon
surrender thereof by the holders thereof. At any time after the expiration of two years from the
date of termination, the Depositary may sell Stock then held hereunder at public or private sale,
at such places and upon such terms as it deems proper and may thereafter hold the net proceeds of
any such sale, together with any money and other property held by it hereunder, without liability
for interest, for the benefit, pro rata in accordance with their holdings, of the holders of
Receipts that have not theretofore been surrendered. After making such sale, the Depositary will
be discharged from all obligations under this Deposit Agreement except to account for such net
proceeds and money and other property.

     Upon the termination of this Deposit Agreement, the Corporation will be discharged from all
obligations under this Deposit Agreement except for its obligations to the Depositary, the
Registrar and any Depositary’s Agent under Sections 5.06 and 5.07.

15

 

ARTICLE 7 — MISCELLANEOUS

     Section 7.01. Counterparts. This Deposit Agreement may be executed in any number of
counterparts, and by each of the parties
hereto on separate counterparts, each of which counterparts, when so executed and delivered,
is an original, but all such counterparts taken together constitute one and the same instrument.

     Section 7.02. Exclusive Benefit of Parties. This Deposit Agreement is for the
exclusive benefit of the parties hereto, and their respective successors hereunder, and does not
give any legal or equitable right, remedy or claim to any other person whatsoever.

     Section 7.03. Invalidity of Provisions. In case any one or more of the provisions
contained in this Deposit Agreement or in the Receipts should be or become invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions
contained herein or therein will in no way be affected, prejudiced or disturbed thereby.

     Section 7.04. Notices. Any and all notices to be given to the Corporation hereunder
or under the Receipts must be in writing and will be deemed to have been duly given if personally
delivered or sent by mail, or by telegram or facsimile transmission confirmed by letter, addressed
to the Corporation at LodgeNet Interactive Corporation, Attention: Secretary, 3900 West Innovation
Street, Sioux Falls, South Dakota 57017, Phone No.: (605) 988-1000, Facsimile No.: (605) 988-1323.

or at any other address of which the Corporation has notified the Depositary in writing.

     Any and all notices to be given to the Depositary hereunder or under the Receipts must be in
writing and will be deemed to have been duly given if personally delivered or sent by mail, or by
telegram or facsimile transmission confirmed by letter, addressed to the Depositary at the
Depositary’s Office, at: Attention: [     ], Facsimile No.: (     ) [     ]-[          ] or
at any other address of which the Depositary has notified the Corporation in writing.

     Any and all notices to be given to any record holder of a Receipt hereunder or under the
Receipts must be in writing and will be deemed to have been duly given if personally delivered or
sent by mail, or by telegram or facsimile transmission confirmed by letter, addressed to such
record holder at the address of such record holder as it appears on the books of the Depositary, or
if such holder has filed with the Depositary a written request that notices intended for such
holder be mailed to some other address, at the address designated in such request.

     Delivery of a notice sent by mail or by telegram or facsimile transmission will be deemed to
be effected at the time when a duly addressed letter containing the same (or a confirmation thereof
in the case of a telegram or facsimile transmission) is deposited, postage prepaid, in a post
office letter box. The Depositary or the Corporation may, however, act upon any telegram or
facsimile transmission received by it from the other or from any holder of a Receipt,
notwithstanding that such telegram or facsimile transmission has not been subsequently confirmed by
letter or as aforesaid.

16

 

     Section 7.05. Appointment of Registrar. The Corporation hereby also appoints the
Depositary as Registrar in respect of the Receipts and the Depositary hereby accepts such
appointments.

     Section 7.06. Holders of Receipts are Parties. The holders of Receipts from time to
time are parties to this Deposit Agreement and are bound by all of the terms and conditions hereof
and of the Receipts by acceptance of delivery thereof.

     Section 7.07. Governing Law. THIS DEPOSIT AGREEMENT AND THE RECEIPTS AND ALL RIGHTS
HEREUNDER AND THEREUNDER AND PROVISIONS HEREOF AND THEREOF ARE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     Section 7.08. Inspection of Deposit Agreement. Copies of this Deposit Agreement will
be filed with the Depositary and the Depositary’s Agent and will be open to inspection during
business hours at the Depositary’s Office or respective offices of the Depositary’s Agent, if any,
by any holder of a Receipt.

     Section 7.09. Headings. The headings of articles and sections in this Deposit
Agreement and in the form of the Receipt set forth in Annex A hereto have been inserted for
convenience only and are not to be regarded as a part of this Deposit Agreement or the Receipts or
to have any bearing upon the meaning or interpretation of any provision contained herein or in the
Receipts.

17

 

     IN WITNESS WHEREOF, the Corporation and the Depositary have duly executed this Deposit
Agreement as of the date and year first above set forth, and all holders of Receipts will become
parties hereto by and upon acceptance by them of delivery of Receipts issued in accordance with the
terms hereof.

	 	 	 	 	 	 	 
	Attested by	 	LodgeNet Interactive Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

[SEAL]

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 
	Attested by	 	[               	]	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

[SEAL]

	 	Name:
	 	 

	 	 
	 

	 	Title:
	 	 

	 	 
	 

	 	 	 	 

	 	 

A-18

 

ANNEX A

	 	 	 
	TEMPORARY RECEIPT EXCHANGEABLE FOR DEFINITIVE 

ENGRAVED RECEIPT WHEN READY FOR DELIVERY

	 	CERTIFICATE FOR [               ] DEPOSITARY SHARES
	 
	 	 
	THE DEPOSITARY SHARES REPRESENTED BY THIS
RECEIPT ARE NOT SAVINGS ACCOUNTS, DEPOSITS OR
OTHER OBLIGATIONS OF [     ], THE
DEPOSITARY HEREUNDER, OR OF ANY BANK OR
NON-BANK DEPOSITARY OF LODGENET INTERACTIVE
CORPORATION AND ARE NOT INSURED BY THE
SAVINGS ASSOCIATION INSURANCE FUND OR THE
BANK INSURANCE FUND OF THE FEDERAL DEPOSIT
INSURANCE CORPORATION, OR ANY OTHER
GOVERNMENT AGENCY DEPOSITARY RECEIPT FOR
DEPOSITARY SHARES, EACH DEPOSITARY SHARE
REPRESENTING A [     ] INTEREST IN ONE SHARE OF
[% PREFERRED STOCK], PAR VALUE $.01 PER SHARE
LODGENET INTERACTIVE CORPORATION

	 	TRANSFERABLE
DEPOSITARY RECEIPT

This certificate
is transferable in New York,

CUSIP [  ]

SEE REVERSE FOR
CERTAIN DEFINITIONS
	 
	 	 
	A CORPORATION INCORPORATED UNDER THE LAWS OF 

THE STATE OF DELAWARE
	 	 

A-1

 

     [     ], as Depositary (the “Depositary”), hereby certifies that [     ] is
the registered owner of [     ] DEPOSITARY SHARES (“Depositary Shares”), each Depositary
Share representing a [     ] interest in one share of [ % Preferred Stock], $.01 par value per share
(the “Stock”), of LodgeNet Interactive Corporation, a Delaware corporation (the “Corporation”), on
deposit with the Depositary, subject to the terms and entitled to the benefits of the Deposit
Agreement dated as of [     ], [     ] (the “Deposit Agreement”), between the Corporation and
the Depositary. By accepting this Depositary Receipt, the holder hereof becomes a party to and
agrees to be bound by all the terms and conditions of the Deposit Agreement. This Depositary
Receipt shall not be valid or obligatory for any purpose or be entitled to any benefits under the
Deposit Agreement unless it has been executed by the Depositary by the manual signature of a duly
authorized officer or, if executed in facsimile by the Depositary, countersigned by a Registrar in
respect of the Depositary Receipts by a duly authorized officer thereof.

Dated: [     ], [     ]

Countersigned

[     ]

Depositary and Registrar

	 	 	 	 	 
	 	By:  	 	 
	 	 	Authorized Officer 	 
	 	 	 	 
	 

A-2

 

LODGENET INTERACTIVE CORPORATION

LODGENET INTERACTIVE CORPORATION WILL FURNISH WITHOUT CHARGE TO EACH RECEIPT-HOLDER WHO SO REQUESTS
A COPY OF THE DEPOSIT AGREEMENT AND A STATEMENT OR SUMMARY OF THE CERTIFICATE OF DESIGNATION
ESTABLISHING THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER
SPECIFIED RIGHTS OF THE [ % PREFERRED STOCK] AND EACH OTHER CLASS OF PREFERRED STOCK OR SERIES
THEREOF WHICH THE CORPORATION IS AUTHORIZED TO ISSUE AND OF THE QUALIFICATIONS, LIMITATIONS OR
RESTRICTIONS OF SUCH PREFERENCE AND/OR RIGHTS. ANY SUCH REQUEST SHOULD BE ADDRESSED TO LODGENET
INTERACTIVE CORPORATION, ATTENTION: SECRETARY, 3900 WEST INNOVATION STREET, SIOUX FALLS, SOUTH
DAKOTA 57017.

                                        

The following abbreviations, when used in the inscription on the face of this Depositary Receipt,
shall be construed as though they were written out in full according to applicable laws or
regulations:

TEN COM —  as tenants in common

TEN ENT —  as tenants by the entireties

JT TEN  —  as joint tenants with right of survivorship and not as tenants in common

	 	 	 	 	 
	UNIF GIFT MIN ACT -

	 	                    Custodian                     	 	 
	 

	 	     (Cust.)
	 	(Minor)

......under Uniform Gifts to

.......Minors Act                    

                              (State)

	 	 	 	 	 
	UNIF TRAN MIN ACT -

	 	                     Custodian (until age ___)
	 	 
	 

	 	      (Cust.)	 	 

	 	 	 	 	 	 	 
	 

	 	 	......	 	 	                     under Uniform Transfers
	 

	 	 	......	 	 	(Minor)
	 

	 	 	......	 	 	to Minors Act                     
	 

	 	 	 	 	 	                              (State)

Additional abbreviations may also be used though not in the above list.

A-3

 

     For value received,                                          hereby sell(s), assign(s) and transfer(s) unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

	 	 	 
	 
	 	 
	 

	 	 

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

	 	 	 
	 
	 	 
	 

	 	 

[          ] Depositary Shares represented by the within Depositary Receipt, and do(es)
hereby irrevocably constitute and appoint [          ] Attorney to transfer the said
Depositary Shares on the books of the within named Depositary with full power of substitution in
the premises.

Dated                                        

	 	 	 
	 
	 	 
	 

	 	 
	Signature:
	 	 

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

SIGNATURE GUARANTEE

	 	 	 
	 
	 	 
	 

	 	 

A-4

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