Document:

exv10w4

Exhibit 10.4

SANTANDER DRIVE AUTO RECEIVABLES TRUST 2011-1

AMENDED AND RESTATED

TRUST AGREEMENT

between

SANTANDER DRIVE AUTO RECEIVABLES LLC,

as the Seller

and

WELLS FARGO DELAWARE TRUST COMPANY, N.A.,

as the Owner Trustee

Dated as of May 4, 2011

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE I DEFINITIONS
	 	 	1	 
	SECTION 1.1. Capitalized Terms
	 	 	1	 
	SECTION 1.2. Other Interpretive Provisions
	 	 	1	 
	ARTICLE II ORGANIZATION
	 	 	2	 
	SECTION 2.1. Name
	 	 	2	 
	SECTION 2.2. Office
	 	 	2	 
	SECTION 2.3. Purposes and Powers
	 	 	2	 
	SECTION 2.4. Appointment of the Owner Trustee
	 	 	3	 
	SECTION 2.5. Initial Capital Contribution of Trust Estate
	 	 	3	 
	SECTION 2.6. Declaration of Trust
	 	 	3	 
	SECTION 2.7. Organizational Expenses; Liabilities of the Holders
	 	 	3	 
	SECTION 2.8. Title to the Trust Estate
	 	 	3	 
	SECTION 2.9. Representations and Warranties of the Seller
	 	 	4	 
	SECTION
2.10. Situs of Issuer
	 	 	5	 
	SECTION
2.11. Covenants of the Residual Interestholders
	 	 	5	 
	ARTICLE III RESIDUAL INTEREST AND TRANSFER OF CERTIFICATES
	 	 	5	 
	SECTION 3.1. Initial Ownership
	 	 	5	 
	SECTION 3.2. Authorization of the Certificates
	 	 	5	 
	SECTION 3.3. Form of the Certificate
	 	 	5	 
	SECTION 3.4. Registration of the Certificates
	 	 	5	 
	SECTION 3.5. Transfer of the Certificate
	 	 	6	 
	SECTION 3.6. Lost, Stolen, Mutilated or Destroyed Certificates
	 	 	7	 
	SECTION 3.7. Appointment of the Certificate Paying Agent
	 	 	8	 
	ARTICLE IV ACTIONS BY OWNER TRUSTEE
	 	 	8	 
	SECTION 4.1. Prior Notice to Residual Interestholder with Respect to Certain Matters
	 	 	8	 
	SECTION 4.2. Action by Residual Interestholder with Respect to Certain Matters
	 	 	9	 
	SECTION 4.3. Action by Residual Interestholder with Respect to Bankruptcy
	 	 	9	 
	SECTION 4.4. Restrictions on Residual Interestholder’s Power
	 	 	9	 

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Table of Contents

(continued)

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	SECTION 4.5. Majority Control
	 	 	10	 
	ARTICLE V APPLICATION OF TRUST FUNDS; CERTAIN DUTIES
	 	 	10	 
	SECTION 5.1. Application of Trust Funds
	 	 	10	 
	SECTION 5.2. Method of Payment
	 	 	10	 
	SECTION 5.3. Signature on Returns
	 	 	10	 
	SECTION 5.4. Certificate Distribution Account
	 	 	10	 
	ARTICLE VI AUTHORITY AND DUTIES OF OWNER TRUSTEE
	 	 	11	 
	SECTION 6.1. General Authority
	 	 	11	 
	SECTION 6.2. General Duties
	 	 	11	 
	SECTION 6.3. Action upon Instruction
	 	 	11	 
	SECTION 6.4. No Duties Except as Specified in this Agreement or in Instructions
	 	 	12	 
	SECTION 6.5. No Action Except under Specified Documents or Instructions
	 	 	12	 
	SECTION 6.6. Restrictions
	 	 	13	 
	ARTICLE VII CONCERNING OWNER TRUSTEE
	 	 	13	 
	SECTION 7.1. Acceptance of Trusts and Duties
	 	 	13	 
	SECTION 7.2. Furnishing of Documents
	 	 	15	 
	SECTION 7.3. Representations and Warranties
	 	 	15	 
	SECTION 7.4. Reliance; Advice of Counsel
	 	 	15	 
	SECTION 7.5. Not Acting in Individual Capacity
	 	 	16	 
	SECTION 7.6. The Owner Trustee May Own Notes
	 	 	16	 
	SECTION 7.7. Compliance with Patriot Act
	 	 	16	 
	ARTICLE VIII COMPENSATION OF OWNER TRUSTEE
	 	 	17	 
	SECTION 8.1. The Owner Trustee’s Compensation
	 	 	17	 
	SECTION 8.2. Indemnification
	 	 	17	 
	SECTION 8.3. Payments to the Owner Trustee
	 	 	17	 
	ARTICLE IX TERMINATION OF TRUST AGREEMENT
	 	 	18	 
	SECTION 9.1. Dissolution of Issuer
	 	 	18	 
	SECTION 9.2. Termination of Trust Agreement
	 	 	18	 
	SECTION 9.3. Limitations on Termination
	 	 	18	 

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TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	ARTICLE X SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES
	 	 	18	 
	SECTION 10.1. Eligibility Requirements for the Owner Trustee
	 	 	18	 
	SECTION 10.2. Resignation or Removal of the Owner Trustee
	 	 	19	 
	SECTION 10.3. Successor Owner Trustee
	 	 	19	 
	SECTION 10.4. Merger or Consolidation of the Owner Trustee
	 	 	20	 
	SECTION 10.5. Appointment of Co-Trustee or Separate Trustee
	 	 	20	 
	ARTICLE XI MISCELLANEOUS
	 	 	21	 
	SECTION 11.1. Amendments
	 	 	21	 
	SECTION 11.2. No Legal Title to Trust Estate in Residual Interestholder
	 	 	23	 
	SECTION 11.3. Limitations on Rights of Others
	 	 	23	 
	SECTION 11.4. Notices
	 	 	23	 
	SECTION 11.5. Severability
	 	 	23	 
	SECTION 11.6. Separate Counterparts
	 	 	23	 
	SECTION 11.7. Successors and Assigns
	 	 	24	 
	SECTION 11.8. No Petition
	 	 	24	 
	SECTION 11.9. Information Request
	 	 	25	 
	SECTION 11.10. Headings
	 	 	25	 
	SECTION 11.11. GOVERNING LAW
	 	 	25	 
	SECTION 11.12. Waiver of Jury Trial
	 	 	25	 
	SECTION 11.13. Form 10-D and Form 10-K Filings
	 	 	25	 
	SECTION 11.14. Form 8-K Filings
	 	 	25	 

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     This AMENDED AND RESTATED TRUST AGREEMENT is made as of May 4, 2011 (as amended, supplemented
or otherwise modified and in effect from time to time, this “Agreement”) between SANTANDER
DRIVE AUTO RECEIVABLES LLC, a Delaware limited liability company, as the depositor (the
“Seller”), and WELLS FARGO DELAWARE TRUST COMPANY, N.A., a national banking association, as
the owner trustee (“Wells Fargo” and in such capacity the “Owner Trustee”).

RECITALS

     WHEREAS, the Seller and the Owner Trustee entered into that certain Trust Agreement dated as
of April 7, 2011 (the “Original Trust Agreement”), pursuant to which the Issuer (as defined
below) was created; and

     WHEREAS, in connection with the issuance of the Notes, the parties have agreed to amend and
restate the Original Trust Agreement;

     NOW THEREFORE, IN CONSIDERATION of the mutual agreements herein contained, and of other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
agree as follows:

ARTICLE I

DEFINITIONS

     SECTION 1.1. Capitalized Terms. Unless otherwise indicated, capitalized terms used in this
Agreement are defined in Appendix A to the Sale and Servicing Agreement dated as of the date hereof
(as from time to time amended, supplemented or otherwise modified and in effect, the “Sale and
Servicing Agreement”) between the Issuer, the Seller, the Servicer, and Deutsche Bank Trust
Company Americas, as Indenture Trustee.

     SECTION 1.2. Other Interpretive Provisions. All terms defined in this Agreement shall have
the defined meanings when used in any certificate or other document delivered pursuant hereto
unless otherwise defined therein. For purposes of this Agreement and all such certificates and
other documents, unless the context otherwise requires: (a) accounting terms not otherwise defined
in this Agreement, and accounting terms partly defined in this Agreement to the extent not defined,
shall have the respective meanings given to them under GAAP (provided, that, to the extent
that the definitions in this Agreement and GAAP conflict, the definitions in this Agreement shall
control); (b) terms defined in Article 9 of the UCC as in effect in the State of Delaware and not
otherwise defined in this Agreement are used as defined in that Article; (c) the words “hereof,”
“herein” and “hereunder” and words of similar import refer to this Agreement as a whole and not to
any particular provision of this Agreement; (d) references to any Article, Section, Schedule or
Exhibit are references to Articles, Sections, Schedules and Exhibits in or to this Agreement, and
references to any paragraph, subsection, clause or other subdivision within any Section or
definition refer to such paragraph, subsection, clause or other subdivision of such Section or
definition; (e) the term “including” and all variations thereof means “including without
limitation”; (f) references to any law or regulation refer to that law or regulation as

 

 

amended from time to time and include any successor law or regulation; and (g) references to
any Person include that Person’s successors and assigns.

ARTICLE II

ORGANIZATION

     SECTION 2.1. Name. The trust created under the Original Trust Agreement shall be known as
“Santander Drive Auto Receivables Trust 2011-1” (the “Issuer”), in which name the Owner
Trustee may conduct the business of such trust, make and execute contracts and other instruments on
behalf of such trust and sue and be sued.

     SECTION 2.2. Office. The office of the Issuer shall be in care of the Owner Trustee at the
Corporate Trust Office or at such other address as the Owner Trustee may designate by written
notice to the Residual Interestholder, the Seller and the Administrator.

     SECTION 2.3. Purposes and Powers. The purpose of the Issuer is, and the Issuer shall have
the power and authority, to engage in the following activities:

     (a) to issue the Notes pursuant to the Indenture and the Certificates pursuant to this
Agreement, and to sell, transfer and exchange the Notes and the Certificates and to pay
interest on and principal of the Notes and distributions to the Residual Interestholder;

     (b) to acquire the property and assets set forth in the Sale and Servicing Agreement
from the Seller pursuant to the terms thereof, to make deposits to and withdrawals from the
Collection Account and the Reserve Account and to pay the organizational, start-up and
transactional expenses of the Issuer;

     (c) to assign, grant, transfer, pledge, mortgage and convey the Trust Estate pursuant
to the Indenture and to hold, manage and distribute to the Residual Interestholder any
portion of the Trust Estate released from the lien of, and remitted to the Issuer pursuant
to, the Indenture;

     (d) to enter into and perform its obligations under the Transaction Documents to which
it is a party;

     (e) to engage in those activities, including entering into agreements, that are
necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or
connected therewith; and

     (f) subject to compliance with the Transaction Documents, to engage in such other
activities as may be required in connection with conservation of the Trust Estate and the
making of distributions to the Residual Interestholder and the Noteholders.

The Owner Trustee is hereby authorized to engage in the foregoing activities on behalf of the
Issuer. Neither the Issuer nor the Owner Trustee on behalf of the Issuer shall engage in any
activity other than in connection with the foregoing or other than as required or authorized by the
terms of this Agreement or the other Transaction Documents.

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     SECTION 2.4. Appointment of the Owner Trustee. The Seller hereby appoints the Owner Trustee
as trustee of the Issuer effective as of the date hereof, to have all the rights, powers and duties
set forth herein.

     SECTION 2.5. Initial Capital Contribution of Trust Estate. As of the date of the Original
Trust Agreement, the Seller sold, assigned, transferred, conveyed and set over to the Owner Trustee
the sum of $1. The Owner Trustee hereby acknowledges receipt in trust from the Seller, as of such
date, of the foregoing contribution, which shall constitute the initial Trust Estate and shall be
deposited in the Collection Account.

     SECTION 2.6. Declaration of Trust. The Owner Trustee hereby declares that it will hold the
Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit
of the Residual Interestholder, subject to the obligations of the Issuer under the Transaction
Documents. It is the intention of the parties hereto that the Issuer constitute a statutory trust
under the Statutory Trust Statute and that this Agreement constitute the governing instrument of
such statutory trust. It is the intention of the parties hereto that, solely for federal income or
state and local income, franchise and value added tax purposes, so long as there is a single
beneficial owner of the Residual Interest, the Issuer will be disregarded as an entity separate
from such beneficial owner and the Notes will be characterized as debt. The parties agree that,
unless otherwise required by appropriate tax authorities, the Issuer will not file or cause to be
filed annual or other necessary returns, reports and other forms consistent with the
characterization of the Issuer as an entity separate from its owner. In the event that the Issuer
is deemed to have more than one beneficial owner for federal income tax purposes, the Issuer will
file returns, reports and other forms consistent with the characterization of the Issuer as a
partnership (that is not treated as a publicly traded partnership), and this Agreement shall be
amended to include such provisions as may be required under Subchapter K of the Internal Revenue
Code of 1986, as amended. Effective as of the date hereof, the Owner Trustee shall have all
rights, powers and duties set forth herein and in the Statutory Trust Statute with respect to
accomplishing the purposes of the Issuer. The Owner Trustee filed the Certificate of Trust with
the Secretary of State of the State of Delaware as required by Section 3810(a) of the Statutory
Trust Statute. Notwithstanding anything herein or in the Statutory Trust Statute to the contrary,
it is the intention of the parties hereto that the Issuer constitute a “business trust” within the
meaning of Section 101(9)(A)(v) of the Bankruptcy Code.

     SECTION 2.7. Organizational Expenses; Liabilities of the Holders.

     (a) The Servicer shall pay organizational expenses of the Issuer as they may arise.

     (b) No Residual Interestholder (including the Seller if the Seller becomes a Residual
Interestholder) shall have any personal liability for any liability or obligation of the
Issuer.

     SECTION 2.8. Title to the Trust Estate. Legal title to all the Trust Estate shall be vested
at all times in the Issuer as a separate legal entity.

3

 

     SECTION 2.9. Representations and Warranties of the Seller. The Seller hereby represents and
warrants to the Owner Trustee that:

     (a) Existence and Power. The Seller is a Delaware limited liability company validly
existing and in good standing under the laws of the State of Delaware and has, in all
material respects, full power and authority required to own its assets and operate its
business as presently owned or operated, and to execute, deliver and to perform its
obligations under the Transaction Documents to which it is a party. The Seller has obtained
all necessary licenses and approvals in each jurisdiction where the failure to do so would
materially and adversely affect the ability of the Seller to perform its obligations under
the Transaction Documents and the Underwriting Agreement.

     (b) Authorization and No Contravention. The execution, delivery and performance by
the Seller of each Transaction Document to which it is a party and the Underwriting
Agreement (i) have been duly authorized by all necessary action on the part of the Seller
and (ii) do not violate or constitute a default under (A) any applicable law, rule or
regulation, (B) its organizational instruments or (C) any material agreement or instrument
to which the Seller is a party or by which its properties are bound (other than violations
of such laws, rules, regulations or agreements which do not affect the legality, validity or
enforceability of any of such agreements and which, individually or in the aggregate, would
not materially and adversely affect the transactions contemplated by, or the Seller’s
ability to perform its obligations under, the Transaction Documents to which it is a party).

     (c) No Consent Required. No approval, authorization or other action by, or filing
with, any Governmental Authority is required in connection with the execution, delivery and
performance by the Seller of any Transaction Document other than UCC filings and other than
(i) approvals and authorizations that have previously been obtained and filings which have
previously been made and (ii) approvals, authorizations or filings which, if not obtained or
made, would not have a material adverse effect on the ability of the Seller to perform its
obligations under the Underwriting Agreement or the Transaction Documents to which it is a
party.

     (d) Binding Effect. Each of the Transaction Documents to which the Seller is a party
and the Underwriting Agreement constitutes the legal, valid and binding obligation of the
Seller enforceable against the Seller in accordance with its terms, except as such
enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium, receivership, conservatorship or other similar laws affecting creditors’ rights
generally and, if applicable the rights of creditors of limited liability companies from
time to time in effect or by general principles of equity or other similar laws of general
application relating to or affecting the enforcement of creditors’ rights generally and
subject to general principles of equity.

     (e) No Proceedings. There are no actions, orders, suits or proceedings pending or, to
the knowledge of the Seller, threatened against the Seller before or by any Governmental
Authority that (i) assert the invalidity or unenforceability of this Agreement or any of the
other Transaction Documents, (ii) seek to prevent the issuance

4

 

of the Notes or the consummation of any of the transactions contemplated by this
Agreement or any of the other Transaction Documents or (iii) seek any determination or
ruling that would materially and adversely affect the performance by the Seller of its
obligations under this Agreement or any of the other Transaction Documents.

     SECTION 2.10. Situs of Issuer. The Issuer shall be located in the State of Delaware (it
being understood that the Issuer may have bank accounts located and maintained outside of
Delaware).

     SECTION 2.11. Covenants of the Residual Interestholders. Each Residual Interestholder, by
becoming a beneficial owner of the Residual Interest, hereby acknowledges and agrees (a) that the
Residual Interestholder is subject to the terms, provisions and conditions of the Certificate, to
which the Residual Interestholder agrees to be bound; and (b) that it shall not take any position
in such Residual Interestholder’s tax returns inconsistent with Section 2.6 herein and
Section 2.14 of the Indenture.

ARTICLE III

RESIDUAL INTEREST AND TRANSFER OF CERTIFICATES

     SECTION 3.1. Initial Ownership. Upon the formation of the Issuer and until the issuance of
the Certificate, the Seller shall be the sole beneficiary of the Issuer, and upon the issuance of
the Certificate, the Seller will no longer be a beneficiary of the Issuer, except to the extent
that the Seller is the Certificateholder.

     SECTION 3.2. Authorization of the Certificates. Concurrently with the sale of the
Transferred Assets to the Issuer pursuant to the Sale and Servicing Agreement, the Owner Trustee
shall cause the Certificates to be executed on behalf of the Issuer, authenticated and delivered to
or upon the written order of the Seller, signed by its chairman of the board, its president, its
chief financial officer, its chief accounting officer, any vice president, its secretary, any
assistant secretary, its treasurer or any assistant treasurer, without further corporate action by
the Seller. The Certificates shall represent 100% of the beneficial interest in the Issuer and
shall be fully paid and nonassessable.

     SECTION 3.3. Form of the Certificate. Each Certificate, upon issuance, will be issued in the
form of a typewritten Certificate representing a definitive Certificate, substantially in the form
of Exhibit A hereto. The Owner Trustee shall execute and authenticate or cause to be
authenticated, each definitive Certificate in accordance with the written instructions of the
Depositor.

     SECTION 3.4. Registration of the Certificates. The Owner Trustee shall maintain at its
office referred to in Section 2.2, or at the office of any agent appointed by it and
approved in writing by the Residual Interestholder at the time of such appointment, a register for
the registration and transfer of any Certificate.

     SECTION 3.5. Transfer of the Certificate. (a) The Certificateholder may assign, convey or
otherwise transfer all or any of its right, title and interest in the Certificate;
provided, that (i) the Owner Trustee and the Issuer receive an Opinion of Counsel stating
that, in the

5

 

opinion of such counsel, such transfer will not cause the Issuer to be treated as a publicly traded
partnership for federal income tax purposes and (ii) the Certificate may not be acquired by or for
the account of or with any assets of a Benefit Plan or any governmental, non-U.S., church or any
other employee benefit plan or retirement arrangement that is subject to Similar Law;
provided that the condition set forth in (i) above will not apply to a transfer of
100% of the Certificate or Certificates to an Affiliate of the Depositor or its designated nominee,
provided such Affiliate shall certify in writing to the Owner Trustee that it is a C Corporation
for U.S. federal income tax purposes (within the meaning of Section 1361(a)(2) of the Code) or a
disregarded entity 100% owned (directly or indirectly) by a C Corporation for U.S. federal income
tax purposes (within the meaning of Section 1361(a)(2) of the Code). By accepting and holding a
Certificate (or any interest therein), the holder thereof shall be deemed to have represented and
warranted that it is not, and is not purchasing the Certificate (or any interest therein) on behalf
of or with any assets of, a Benefit Plan or any governmental, non-U.S., church or any other
employee benefit plan or retirement arrangement that is subject to Similar Law. The Owner Trustee
shall have no duty to independently determine that the requirement in (ii) above is met and
shall incur no liability to any person in the event the holder of the Certificate does not comply
with such restrictions. Subject to the transfer restrictions contained herein and in the
Certificate, the Certificateholder may transfer all or any portion of the beneficial interest in
the Issuer evidenced by such Certificate upon surrender thereof to the Owner Trustee accompanied by
the documents required by this Section. Such transfer may be made by the registered
Certificateholder in person or by his attorney duly authorized in writing upon surrender of the
Certificate to the Owner Trustee accompanied by a written instrument of transfer and with such
signature guarantees and evidence of authority of the Persons signing the instrument of transfer as
the Owner Trustee may reasonably require. Promptly upon the receipt of such documents and receipt
by the Owner Trustee of the transferor’s Certificate, the Owner Trustee shall record the name of
such transferee as a Certificateholder and its percentage of beneficial interest in the Issuer in
the Certificate register and issue, execute and deliver to such Certificateholder a Certificate
evidencing such beneficial interest in the Issuer. In the event a transferor transfers only a
portion of its beneficial interest in the Issuer, the Owner Trustee shall register and issue to
such transferor a new Certificate evidencing such transferor’s new percentage of beneficial
interest in the Issuer. Subsequent to a transfer and upon the issuance of the new Certificate or
Certificates, the Owner Trustee shall cancel and destroy the Certificate surrendered to it in
connection with such transfer. The Owner Trustee may treat the Person in whose name any
Certificate is registered as the sole owner of the beneficial interest in the Issuer evidenced by
such Certificate.

     (b) As a condition precedent to any registration of transfer under this
Section 3.5, the Owner Trustee may require the payment of a sum sufficient to
cover the payment of any tax or taxes or other governmental charges required to be paid
in connection with such transfer.

     (c) The Owner Trustee shall not be obligated to register any transfer of a
Certificate unless each of the transferor and the transferee have certified to the
Owner Trustee that such transfer does not violate any of the transfer restrictions
stated herein including, but not limited to clauses (d) and (e) of this
Section 3.5. The Owner Trustee shall not be liable to any Person for
registering any transfer based on such certifications.

6

 

     (d) No transfer (or purported transfer) of all or any part of a
Certificateholder’s interest (or any economic interest therein), whether to another
Certificateholder or to a person who is not a Certificateholder, shall be effective,
and any such transfer (or purported transfer) shall be void ab initio,
and no person shall otherwise become a Certificateholder if, after such transfer (or
purported transfer), the Issuer would have more than 95 direct or indirect holders of
an interest in the Certificates and the Non-Investment Grade Notes (unless, with
respect to the Non-Investment Grade Notes, a Debt-For-Tax Opinion has been delivered).
For purposes of determining whether the Issuer will have more than 95 holders of an
interest in the Certificates and the Non-Investment Grade Notes, as applicable, each
Person indirectly owning an interest through a partnership (including any entity
treated as a partnership for federal income tax purposes), a grantor trust or an S
corporation (each such entity, a “flow-through entity”) shall be treated as a
Certificateholder or Noteholder, as applicable, unless the Depositor determines in its
sole and absolute discretion, after consulting with qualified tax counsel, that less
than substantially all of the value of the beneficial owner’s interest in the
flow-through entity is attributable to the flow-through entity’s interest (direct or
indirect) in the Issuer.

     (e) No transfer shall be permitted if the same is effected through an established
securities market or secondary market or substantial equivalent thereof within the
meaning of Section 7704 of the Code or would make the Issuer ineligible for “safe
harbor” treatment under Section 7704 of the Code.

     (f) Each transferee (i) shall be required to represent and warrant that it is a
Person who is a U.S. Tax Person and (ii) shall provide a certification of non-foreign
status, in such form as may be requested by the Depositor or the Owner Trustee (e.g.
IRS Form W-9), signed under penalties of perjury (and such other certification,
representations or opinion of counsel as may be requested by the Depositor or the Owner
Trustee).

     SECTION 3.6. Lost, Stolen, Mutilated or Destroyed Certificates. If (i) any mutilated
Certificate is surrendered to the Owner Trustee, or (ii) the Owner Trustee receives evidence to its
satisfaction that any Certificate has been destroyed, lost or stolen, and upon proof of ownership
satisfactory to the Owner Trustee together with such security or indemnity as may be requested by
the Owner Trustee to save it harmless, the Owner Trustee shall execute and deliver a new
Certificate for the same percentage of beneficial interest in the Issuer as the Certificate so
mutilated, destroyed, lost or stolen, of like tenor and bearing a different issue number, with such
notations, if any, as the Owner Trustee shall determine. Upon the issuance of any new Certificate
under this Section 3.6, the Issuer or Owner Trustee may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection with any
transfer or exchange of the Certificate and any other reasonable expenses (including the reasonable
fees and expenses of the Issuer and the Owner Trustee) connected therewith. Any duplicate
Certificate issued pursuant to this Section 3.6 shall constitute complete and indefeasible
evidence of ownership in the Issuer, as if originally issued, whether or not the lost, stolen or
destroyed Certificate shall be found at any time.

7

 

     SECTION 3.7. Appointment of the Certificate Paying Agent. The Certificate Paying Agent shall
make distributions to Residual Interestholders from the Certificate Distribution Account pursuant
to Section 5.2 and shall report the amounts of such distributions to the Owner Trustee and
the Servicer; provided, however, that no such reports shall be required so long as
the Depositor or an affiliate of the Depositor is the sole Residual Interestholder. Any
Certificate Paying Agent shall have the revocable power to withdraw funds from the Certificate
Distribution Account for the purpose of making the distributions referred to above. The Owner
Trustee may revoke such power and remove the Certificate Paying Agent if the Owner Trustee
determines in its sole discretion that the Certificate Paying Agent shall have failed to perform
its obligations under this Agreement in any material respect. The Certificate Paying Agent shall
initially be Wells Fargo, and any co-paying agent chosen by the Certificate Paying Agent. Wells
Fargo shall be permitted to resign as Certificate Paying Agent upon thirty (30) days’ written
notice to the Owner Trustee. If Wells Fargo shall no longer be the Certificate Paying Agent, the
Owner Trustee shall appoint a successor to act as Certificate Paying Agent (which shall be a bank
or trust company). The Owner Trustee shall cause such successor Certificate Paying Agent or any
additional Certificate Paying Agent appointed by the Owner Trustee to execute and deliver to the
Owner Trustee an instrument in which such successor Certificate Paying Agent or additional
Certificate Paying Agent shall agree with the Owner Trustee that as Certificate Paying Agent, such
successor Certificate Paying Agent or additional Certificate Paying Agent shall hold all sums, if
any, held by it for payment to the Residual Interestholders in trust for the benefit of the
Residual Interestholders entitled thereto until such sums shall be paid to such Residual
Interestholders. The Certificate Paying Agent shall return all unclaimed funds to the Owner
Trustee and upon removal of a Certificate Paying Agent such Certificate Paying Agent shall also
return all funds in its possession to the Owner Trustee. The rights, protections, indemnities and
immunities of the Owner Trustee under this Agreement shall apply to the Owner Trustee also in its
role as Certificate Paying Agent or Certificate Registrar for so long as the Owner Trustee shall
act as Certificate Paying Agent or Certificate Registrar and, to the extent applicable, to any
other paying agent, certificate registrar or authenticating agent appointed hereunder. Any
reference in this Agreement to the Certificate Paying Agent shall include any co-paying agent
unless the context requires otherwise.

ARTICLE IV

ACTIONS BY OWNER TRUSTEE

     SECTION 4.1. Prior Notice to Residual Interestholder with Respect to Certain Matters. With
respect to the following matters, the Owner Trustee shall not take action unless at least 10 days
before the taking of such action (or if 10 days’ advance notice is impracticable, as much advance
notice as is practicable), the Owner Trustee shall have notified the Residual Interestholder in
writing of the proposed action and the Residual Interestholder shall not have notified the Owner
Trustee in writing that the Residual Interestholder has withheld consent or provided alternative
direction:

     (a) the amendment of the Indenture by a supplemental indenture in circumstances where
the consent of any Noteholder is required;

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     (b) the amendment of the Indenture by a supplemental indenture in circumstances where
the consent of any Noteholder is not required and such amendment materially adversely
affects the interests of the Residual Interestholder;

     (c) the amendment, change or modification of the Sale and Servicing Agreement, or the
Administration Agreement, except to cure any ambiguity or defect or to amend or supplement
any provision in a manner that would not materially adversely affect the interests of the
Residual Interestholder; or

     (d) the appointment pursuant to the Indenture of a successor Indenture Trustee or the
consent to the assignment by the Note Registrar or the Indenture Trustee of its obligations
under the Indenture or this Agreement, as applicable.

     SECTION 4.2. Action by Residual Interestholder with Respect to Certain Matters. The Owner
Trustee shall not have the power, except upon the direction of the Residual Interestholder, to (a)
except as expressly provided in the Transaction Documents, sell the Collateral after the
termination of the Indenture in accordance with its terms, (b) remove the Administrator under the
Administration Agreement pursuant to Section 8 thereof or (c) appoint a successor
Administrator pursuant to Section 8 of the Administration Agreement. The Owner Trustee
shall take the actions referred to in the preceding sentence only upon written instructions signed
by the Residual Interestholder.

     SECTION 4.3. Action by Residual Interestholder with Respect to Bankruptcy.

     (a) The Issuer shall not, without the prior written consent of the Owner Trustee and
100% of the Residual Interestholders, commence a Bankruptcy Event with respect to the
Issuer. In considering whether to give or withhold written consent to the Bankruptcy Event
by the Issuer, the Owner Trustee, with the consent of the Residual Interestholder, shall
consider the interests of the Noteholders in addition to the interests of the Issuer and
whether the Issuer is insolvent. The Owner Trustee shall have no duty to give such written
consent to a Bankruptcy Event by the Issuer if the Owner Trustee shall not have been
furnished (at the expense of the Person that requested such letter be furnished to the Owner
Trustee) a letter from an independent accounting firm of national reputation stating that in
the opinion of such firm the Issuer is then insolvent. The Owner Trustee shall not be
personally liable to any Noteholder or Residual Interestholder on account of the Owner
Trustee’s good faith reliance on the provisions of this Section and no Noteholder or
Residual Interestholder shall have any claim for breach of fiduciary duty or otherwise
against the Owner Trustee for giving or withholding its consent to any such Bankruptcy
Event.

     (b) The parties hereto stipulate and agree that no Residual Interestholder has power
to commence any Bankruptcy Action on the part of the Issuer.

     SECTION 4.4. Restrictions on Residual Interestholder’s Power. The Residual Interestholder
shall not direct the Owner Trustee to take or refrain from taking any action if such action or
inaction would be contrary to any obligation of the Issuer or the Owner Trustee under

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this Agreement or any of the Transaction Documents or would be contrary to Section
2.3, nor shall the Owner Trustee be obligated to follow any such direction, if given.

     SECTION 4.5. Majority Control. To the extent that there is more than one Residual
Interestholder, any action which may be taken or consent or instructions which may be given by the
Residual Interestholder under this Agreement may be taken by Residual Interestholders holding in
the aggregate a percentage of the beneficial interest in the Issuer equal to more than 50% of the
beneficial interest in the Issuer at the time of such action.

ARTICLE V

APPLICATION OF TRUST FUNDS; CERTAIN DUTIES

     SECTION 5.1. Application of Trust Funds. Distributions on the Residual Interest shall be
made in accordance with the provisions of the Indenture and the Sale and Servicing Agreement.
Subject to the Lien of the Indenture, the Certificate Paying Agent shall promptly distribute to the
Residual Interestholder all other amounts (if any) received by the Certificate Paying Agent on
behalf of the Issuer in respect of the Trust Estate. After the termination of the Indenture in
accordance with its terms, the Certificate Paying Agent shall distribute all amounts received (if
any) by the Issuer and the Owner Trustee in respect of the Trust Estate at the direction of the
Residual Interestholder.

     SECTION 5.2. Method of Payment. Subject to the Indenture, distributions required to be made
to the Residual Interestholder on any Payment Date and all amounts received by the Issuer or the
Owner Trustee on any other date that are payable to the Residual Interestholder pursuant to this
Agreement or any other Transaction Document shall be made to the Residual Interestholder by wire
transfer, in immediately available funds, to the account of the Residual Interestholder designated
by the Residual Interestholder to the Owner Trustee and Indenture Trustee in writing.

     SECTION 5.3. Signature on Returns. Subject to Section 2.6, the Residual
Interestholder shall sign on behalf of the Issuer the tax returns of the Issuer, unless applicable
law requires the Owner Trustee to sign such documents, in which case such documents shall be signed
by the Owner Trustee at the written direction of the Residual Interestholder.

     SECTION 5.4. Certificate Distribution Account. The Certificate Distribution Account shall be
established pursuant to Section 4.1 of the Sale and Servicing Agreement. The Residual
Interestholder shall possess all right, title and interest in and to all funds on deposit from time
to time in the Certificate Distribution Account and all proceeds thereof. Except as otherwise
provided herein, in the Indenture or in the Sale and Servicing Agreement, the Certificate
Distribution Account shall be under the sole dominion and control of the Certificate Paying Agent
for the benefit of the Residual Interestholders. If, at any time, the Certificate Distribution
Account ceases to be an Eligible Account, the Owner Trustee (or the Servicer on behalf of the Owner
Trustee, if the Certificate Distribution Account is not then held by the Owner Trustee or an
Affiliate thereof) shall within ten (10) Business Days (or such longer period) establish a new
Certificate Distribution Account as an Eligible Account and shall transfer any cash then on deposit
in the Certificate Distribution Account to such new Certificate Distribution Account.

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ARTICLE VI

AUTHORITY AND DUTIES OF OWNER TRUSTEE

     SECTION 6.1. General Authority. The Owner Trustee is authorized and directed to execute and
deliver (i) the Transaction Documents to which the Issuer is named as a party and (ii) each
certificate or other document attached as an exhibit to or contemplated by the Transaction
Documents to which the Issuer or the Owner Trustee is named as a party and any amendment thereto,
in each case, in such form as the Seller shall approve, as evidenced conclusively by the Owner
Trustee’s execution thereof, and at the written direction of the Seller, to direct the Indenture
Trustee to authenticate and deliver Class A-1 Notes in the aggregate principal amount of
$361,720,000, Class A-2 Notes in the aggregate principal amount of $348,910,000, Class A-3 Notes in
the aggregate principal amount of $155,770,000, Class B Notes in the aggregate principal amount of
$145,500,000, Class C Notes in the aggregate principal amount of $79,370,000, Class D Notes in the
aggregate principal amount of $119,050,000 and Class E Notes in the aggregate principal amount of
$39,680,000. In addition to the foregoing, the Owner Trustee is authorized, but shall not be
obligated, to take all actions required of the Issuer pursuant to the Transaction Documents. The
Owner Trustee is further authorized from time to time to take such action as the Seller, the
Administrator or the Residual Interestholder recommends or directs in writing with respect to the
Transaction Documents, except to the extent that this Agreement expressly requires the consent of
the Residual Interestholder for such action.

     SECTION 6.2. General Duties. It shall be the duty of the Owner Trustee to discharge (or
cause to be discharged) all of its responsibilities pursuant to the terms of this Agreement and the
other Transaction Documents in the interest of the Residual Interestholder, subject to Transaction
Documents, and in accordance with the provisions of this Agreement. Notwithstanding the foregoing,
the Owner Trustee shall be deemed to have discharged its duties and responsibilities hereunder and
under the Transaction Documents to the extent the Administrator has agreed in the Administration
Agreement to perform any act or to discharge any duty of the Issuer or the Owner Trustee hereunder
or under any Transaction Document, and the Owner Trustee shall not be liable for the default or
failure of the Administrator to carry out its obligations under the Administration Agreement and
shall have no duty to monitor the performance of the Administrator or any other Person under the
Administration Agreement or any other document. The Owner Trustee shall have no obligation to
administer, service or collect the Receivables or to maintain, monitor or otherwise supervise the
administration, servicing or collection of the Receivables.

     SECTION 6.3. Action upon Instruction. (a) Subject to Article IV, and in accordance
with the Transaction Documents, the Residual Interestholder may, by written instruction, direct the
Owner Trustee in the management of the Issuer. Such direction may be exercised at any time by
written instruction of the Residual Interestholder pursuant to Article IV.

     (b) Subject to Section 7.1, the Owner Trustee shall not be required to take
any action hereunder or under any Transaction Document if the Owner Trustee shall have
reasonably determined or been advised by counsel that such action is likely to result in

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liability on the part of the Owner Trustee or is contrary to the terms hereof or of any
Transaction Document or is otherwise contrary to law.

     (c) Whenever the Owner Trustee is unable to decide between alternative courses of
action permitted or required by the terms of this Agreement or any Transaction Document or
is unsure as to the application of any provision of this Agreement or any Transaction
Document or any such provision is ambiguous as to its application, or is, or appears to be,
in conflict with any other applicable provision, or in the event that this Agreement permits
any determination by the Owner Trustee or is silent or is incomplete as to the course of
action that the Owner Trustee is required to take with respect to a particular set of facts,
the Owner Trustee shall promptly give notice (in such form as shall be appropriate under the
circumstances) to the Residual Interestholder requesting instruction as to the course of
action to be adopted or application of such provision, and to the extent the Owner Trustee
acts or refrains from acting in good faith in accordance with any written instruction of the
Residual Interestholder received, the Owner Trustee shall not be liable on account of such
action or inaction to any Person. If the Owner Trustee shall not have received appropriate
instruction within ten days of such notice (or within such shorter period of time as
reasonably may be specified in such notice or may be necessary under the circumstances) it
may, but shall be under no duty to, take or refrain from taking such action, not
inconsistent with this Agreement or the Transaction Documents, as it shall deem to be in the
best interests of the Residual Interestholder, and shall have no liability to any Person for
such action or inaction.

     SECTION 6.4. No Duties Except as Specified in this Agreement or in Instructions. The Owner
Trustee shall not have any duty or obligation to manage, make any payment with respect to,
register, record, sell, dispose of, or otherwise deal with the Trust Estate, or to otherwise take
or refrain from taking any action under, or in connection with, any document contemplated hereby to
which the Issuer or the Owner Trustee is a party, except as expressly provided by the terms of this
Agreement or in any document or written instruction received by the Owner Trustee pursuant to
Section 6.3; and no implied duties (including fiduciary duties existing at law or in
equity) or obligations shall be read into this Agreement or any Transaction Document against the
Owner Trustee. The Owner Trustee shall have no responsibility for filing any financing or
continuation statement in any public office at any time or to otherwise perfect or maintain the
perfection of any security interest or Lien granted to it hereunder or to prepare or file any
Commission filing (including any filings required under the Sarbanes-Oxley Act) for the Issuer or
to record this Agreement or any Transaction Document. Wells Fargo nevertheless agrees that it
will, at its own cost and expense, promptly take all action as may be necessary to discharge any
Liens on any part of the Trust Estate that result from actions by, or claims against, Wells Fargo
that are not related to the ownership or the administration of the Trust Estate.

     SECTION 6.5. No Action Except under Specified Documents or Instructions. The Owner Trustee
shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Trust
Estate except (i) in accordance with the powers granted to and the authority conferred upon the
Owner Trustee pursuant to this Agreement, (ii) in accordance with the Transaction Documents and
(iii) in accordance with any document or instruction delivered to the Owner Trustee pursuant to
Section 6.3.

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     SECTION 6.6. Restrictions. The Owner Trustee shall not take any action (a) that is
inconsistent with the purposes of the Issuer set forth in Section 2.3 or (b) that, to the
actual knowledge of a Responsible Officer of the Owner Trustee, would (i) affect the treatment of
the Notes as indebtedness for federal income, state and local income, franchise and value added tax
purposes, (ii) be deemed to cause a taxable exchange of the Notes for federal income or state
income or franchise tax purposes or (iii) cause the Issuer or any portion thereof to be treated as
an association or publicly traded partnership taxable as a corporation for federal income, state
and local income or franchise and value added tax purposes. The Residual Interestholder shall not
direct the Owner Trustee to take action that would violate the provisions of this Section.

ARTICLE VII

CONCERNING OWNER TRUSTEE

     SECTION 7.1. Acceptance of Trusts and Duties. The Owner Trustee accepts the trusts hereby
created and agrees to perform its duties hereunder with respect to such trusts but only upon the
terms of this Agreement. The Owner Trustee also agrees to disburse all moneys actually received by
it constituting part of the Trust Estate upon the terms of the Transaction Documents and this
Agreement. The Owner Trustee shall not be personally liable or accountable hereunder or under any
Transaction Document under any circumstances notwithstanding anything herein or in the Transaction
Documents to the contrary, except (i) for its own willful misconduct, bad faith or gross
negligence, (ii) in the case of the inaccuracy of any representation or warranty contained in
Section 7.3 expressly made by Wells Fargo in its individual capacity, (iii) for liabilities
arising from the failure of Wells Fargo to perform obligations expressly undertaken by it in the
last sentence of Section 6.4 or (iv) for taxes, fees or other charges on, based on or
measured by, any fees, commissions or compensation received by the Owner Trustee. In particular,
but not by way of limitation (and subject to the exemptions set forth in the preceding sentence):

     (a) The Owner Trustee shall not be liable for any error of judgment made in good faith
by any officer or employee of the Owner Trustee.

     (b) Under no circumstances shall the Owner Trustee be personally liable hereunder for
any indebtedness of the Issuer.

     (c) The Owner Trustee shall not be personally liable for the payment of any tax
imposed on the Issuer or amounts that are includable in the federal gross income of the
Residual Interestholder.

     (d) No provision of this Agreement shall require the Owner Trustee to expend or risk
funds or otherwise incur any financial liability in the performance of any of the Owner
Trustee’s duties or powers hereunder, if the Owner Trustee believes or is advised by its
legal counsel that repayment of such funds or adequate indemnity against such risk or
liability is not assured or provided to its reasonable satisfaction.

     (e) Under no circumstance shall the Owner Trustee be liable for any representation,
warranty, covenant, or obligation or indebtedness of the Issuer hereunder

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or under the Transaction Documents or any other agreement, document or certificate
contemplated by the foregoing.

     (f) The Owner Trustee shall not be liable with respect to any action taken or omitted
to be taken by the Administrator, the Indenture Trustee or the Servicer and the Owner
Trustee shall not be liable for performing or supervising the performance of any obligations
or duties under this Agreement, the Administration Agreement, the Sale and Servicing
Agreement or the Indenture, or under any other document contemplated hereby or thereby,
which are to be performed by the Administrator, the Indenture Trustee or the Servicer or any
other Person under such documents.

     (g) The Owner Trustee shall not be responsible for or in respect of the recitals
herein, the validity or sufficiency of this Agreement, or for the due execution hereof by
the Seller or for the form, character, genuineness, sufficiency, value or validity of the
Trust Estate or for or in respect of the validity or sufficiency of the Transaction
Documents or any other document contemplated thereby to which the Owner Trustee is not a
party.

     (h) Notwithstanding anything contained herein or in any of the Transaction Documents
to the contrary, the Owner Trustee shall not be required to take any action in any
jurisdiction other than in the State of Delaware if the taking of such action will (i)
require the consent or approval or authorization or order of or the giving of notice to, or
the registration with or taking of any action in respect of, any state or other governmental
authority or agency of any jurisdiction other than the State of Delaware; (ii) result in any
fee, tax or other governmental charge under the laws of any jurisdiction or any political
subdivisions thereof in existence on the date hereof other than the State of Delaware
becoming payable by the Owner Trustee; or (iii) subject the Owner Trustee to personal
jurisdiction in any jurisdiction other than the State of Delaware for causes of action
arising from acts unrelated to the consummation of the transactions by the Owner Trustee
contemplated hereby.

     (i) The Owner Trustee shall not be liable with respect to any action taken or omitted
to be taken by it in accordance with the instructions of the Residual Interestholder, the
Servicer or the Administrator.

     (j) The Owner Trustee shall be under no duty to exercise any of the rights or powers
vested in it by this Agreement, or to institute, conduct or defend any litigation under this
Agreement or otherwise or in relation to this Agreement or any Transaction Document, at the
request, order or written direction of the Residual Interestholder, unless such Residual
Interestholder has offered to provide to the Owner Trustee, to the extent requested by the
Owner Trustee, security or indemnity satisfactory to it against the costs, expenses and
liabilities that may be incurred by the Owner Trustee therein or thereby. The Owner Trustee
shall not be liable for the performance of any discretionary act enumerated in this
Agreement or in any Transaction Document other than for its gross negligence, bad faith or
willful misconduct in the performance of any such act.

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     (k) All funds deposited with the Owner Trustee hereunder may be held in a non-interest
bearing account and the Owner Trustee shall not be liable for any interest thereon or for
any loss as a result of the investment thereof at the direction of the Residual
Interestholder.

     (l) In no event shall the Owner Trustee be liable for any damages in the nature of
punitive, special, indirect or consequential damages however styled, including, without
limitation, lost profits, or for losses due to forces beyond the control of the Owner
Trustee, including, without limitation, strikes, work stoppages, acts of war or terrorism,
insurrection, revolution, nuclear or natural catastrophes or acts of God, and interruptions,
loss or malfunctions of utilities, communications or computer (software and hardware)
services provided to the Owner Trustee.

     SECTION 7.2. Furnishing of Documents. The Owner Trustee shall furnish to the Residual
Interestholder promptly upon receipt of a written request therefor, duplicates or copies of all
reports, notices, requests, demands, certificates, financial statements and any other instruments
furnished to the Owner Trustee under the Transaction Documents.

     SECTION 7.3. Representations and Warranties. Wells Fargo hereby represents and warrants to
the Seller for the benefit of the Residual Interestholder, that:

     (a) It is a national banking association validly existing in good standing under the
laws of the United States of America and having an office within the State of Delaware. It
has all requisite corporate power and authority to execute, deliver and perform its
obligations under this Agreement.

     (b) It has taken all corporate action necessary to authorize the execution and
delivery by it of this Agreement, and this Agreement will be executed and delivered by one
of its officers who is duly authorized to execute and deliver this Agreement on its behalf.

     (c) This Agreement constitutes a legal, valid and binding obligation of the Owner
Trustee, enforceable against the Owner Trustee in accordance with its terms, subject, as to
enforceability, to applicable bankruptcy, insolvency, reorganization, conservatorship,
receivership, liquidation and other similar laws affecting enforcement of the rights of
creditors of banks generally and to equitable limitations on the availability of specific
remedies.

     (d) Neither the execution nor the delivery by it of this Agreement, nor the
consummation by it of the transactions contemplated hereby nor compliance by it with any of
the terms or provisions hereof will contravene any federal or Delaware law, governmental
rule or regulation governing the banking or trust powers of the Owner Trustee or any
judgment or order binding on it, or constitute any default under its charter documents or
by-laws.

     SECTION 7.4. Reliance; Advice of Counsel. (a) The Owner Trustee shall incur no personal
liability to anyone in acting upon any signature, instrument, notice, resolution, request, consent,
order, certificate, report, opinion, bond or other document or paper believed by it to be

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genuine and believed by it to be signed by the proper party or parties. The Owner Trustee may
accept a certified copy of a resolution of the board of directors or other governing body of any
corporate party as conclusive evidence that such resolution has been duly adopted by such body and
that the same is in full force and effect. As to any fact or matter the method of the
determination of which is not specifically prescribed herein, the Owner Trustee may for all
purposes hereof rely on a certificate, signed by the president or any vice president or by the
treasurer, secretary or other Authorized Officers of the relevant party, as to such fact or matter,
and such certificate shall constitute full protection to the Owner Trustee for any action taken or
omitted to be taken by it in good faith in reliance thereon.

     (b) In the exercise or administration of the trusts hereunder and in the performance
of its duties and obligations under this Agreement or the Transaction Documents, the Owner
Trustee (i) may act directly or through its agents or attorneys pursuant to agreements
entered into with any of them, but the Owner Trustee shall not be personally liable for the
conduct or misconduct of such agents, custodians, nominees (including persons acting under a
power of attorney) or attorneys selected in good faith and (ii) may consult with counsel,
accountants and other skilled persons knowledgeable in the relevant area to be selected in
good faith and employed by it at the expense of the Issuer. The Owner Trustee shall not be
personally liable for anything done, suffered or omitted in good faith by it in accordance
with the written opinion or advice of any such counsel, accountants or other such persons.

     SECTION 7.5. Not Acting in Individual Capacity. Except as provided in this Article
VII, in accepting the trusts hereby created, Wells Fargo acts solely as the Owner Trustee
hereunder and not in its individual capacity and all Persons having any claim against the Owner
Trustee by reason of the transactions contemplated by this Agreement or any Transaction Document
shall look only to the Trust Estate for payment or satisfaction thereof.

     SECTION 7.6. The Owner Trustee May Own Notes. The Owner Trustee in its individual or any
other capacity may become the owner or pledgee of Notes. The Owner Trustee may deal with the
Seller, the Indenture Trustee, the Administrator, the Underwriters and their respective Affiliates
in banking transactions with the same rights as it would have if it were not the Owner Trustee, and
the Seller, the Indenture Trustee, the Administrator, the Underwriters and their respective
Affiliates may maintain normal commercial banking relationships with the Owner Trustee and its
Affiliates.

     SECTION 7.7. Compliance with Patriot Act. In order to comply with laws, rules, regulations
and executive orders in effect from time to time applicable to banking institutions, including
those relating to the funding of terrorist activities and money laundering (“Applicable
Law”), the Owner Trustee is required to obtain, verify and record certain information relating
to individuals and entities which maintain a business relationship with the Owner Trustee.
Accordingly, the Depositor shall cause to be provided to the Owner Trustee upon its reasonable
request from time to time such identifying information and documentation as may be available to the
Depositor in order to enable the Owner Trustee to comply with Applicable Law.

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ARTICLE VIII

COMPENSATION OF OWNER TRUSTEE

     SECTION 8.1. The Owner Trustee’s Compensation. The Issuer shall cause the Servicer to pay to
Wells Fargo pursuant to Section 3.11 of the Sale and Servicing Agreement from time to time
compensation for all services rendered by Wells Fargo under this Agreement pursuant to a fee letter
between the Servicer and the Owner Trustee (which compensation shall not be limited by any
provision of law in regard to the compensation of a trustee of an express trust). The Servicer,
pursuant to Section 3.11 of the Sale and Servicing Agreement and the fee letter between the
Servicer and the Owner Trustee, shall reimburse Wells Fargo upon its request for all reasonable
expenses, disbursements and advances incurred or made by Wells Fargo in accordance with any
provision of this Agreement (including the reasonable compensation, expenses and disbursements of
such agents, experts and counsel as Wells Fargo may employ in connection with the exercise and
performance of its rights and its duties hereunder), except any such expense may be attributable to
its willful misconduct, gross negligence (other than an error in judgment) or bad faith. To the
extent not paid by the Servicer, such fees and reasonable expenses shall be paid by the Issuer in
accordance with Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b)
of the Indenture, as applicable.

     SECTION 8.2. Indemnification. The Seller shall cause the Servicer to indemnify Wells Fargo
in its individual capacity and as trustee and its successors, assigns, directors, officers,
employees and agents (the “Indemnified Parties”) from and against, any and all loss,
liability, expense, tax, penalty or claim (including reasonable legal fees and expenses) of any
kind and nature whatsoever which may at any time be imposed on, incurred by, or asserted against
Wells Fargo in its individual capacity and as trustee or any Indemnified Party in any way relating
to or arising out of this Agreement, the Transaction Documents, the Trust Estate, the
administration of the Trust Estate or the action or inaction of Wells Fargo hereunder;
provided, however, that neither the Seller nor the Servicer shall be liable for or
required to indemnify Wells Fargo from and against any of the foregoing expenses or indemnities
arising or resulting from (i) its own willful misconduct, bad faith or gross negligence, (ii) the
inaccuracy of any representation or warranty contained in Section 7.3 expressly made by
Wells Fargo in its individual capacity, (iii) liabilities arising from the failure of Wells Fargo
to perform obligations expressly undertaken by it in the last sentence of Section 6.4 or
(iv) taxes, fees or other charges on, based on or measured by, any fees, commissions or
compensation received by the Owner Trustee. To the extent not paid by the Servicer, such
indemnification shall be paid by the Issuer in accordance with, and solely to the extent set forth
in, Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the
Indenture, as applicable. The provisions of this Section 8.2 shall survive the termination
of this Agreement and the resignation or removal of the Owner Trustee.

     SECTION 8.3. Payments to the Owner Trustee. Any amounts paid to the Owner Trustee pursuant
to this Article VIII and the Sale and Servicing Agreement shall be deemed not to be a part
of the Trust Estate immediately after such payment.

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ARTICLE IX

TERMINATION OF TRUST AGREEMENT

     SECTION 9.1. Dissolution of Issuer. The Issuer shall dissolve upon the final distribution of
all moneys or other property or proceeds of the Trust Estate in accordance with the terms of the
Indenture and the Sale and Servicing Agreement and the discharge of the Indenture in accordance
with Article IV of the Indenture. The bankruptcy, liquidation, dissolution, death or
incapacity of the Residual Interestholder shall not (x) operate to terminate this Agreement or the
Issuer, nor (y) entitle the Residual Interestholder’s legal representatives or heirs to claim an
accounting or to take any action or proceeding in any court for a partition or winding up of all or
any part of the Issuer or Trust Estate nor (z) otherwise affect the rights, obligations and
liabilities of the parties hereto.

     SECTION 9.2. Termination of Trust Agreement. Upon dissolution of the Issuer, the
Administrator shall wind up the business and affairs of the Issuer as required by Section 3808 of
the Statutory Trust Statute. Upon the satisfaction and discharge of the Indenture, and receipt of
a certificate from the Indenture Trustee stating that all Noteholders have been paid in full and
that the Indenture Trustee is aware of no claims remaining against the Issuer in respect of the
Indenture and the Notes, the Administrator, in the absence of actual knowledge of any other claim
against the Issuer, shall be deemed to have made reasonable provision to pay all claims and
obligations (including conditional, contingent or unmatured obligations) for purposes of Section
3808(e) of the Statutory Trust Statute. The Certificate Paying Agent, upon surrender of the
outstanding Certificates shall distribute the remaining Trust Estate (if any) in accordance with
Article V hereof and, at the written direction and expense of the Residual Interestholder, the
Owner Trustee shall cause the Certificate of Trust to be cancelled by filing a certificate of
cancellation with the Delaware Secretary of State in accordance with the provisions of Section 3810
of the Statutory Trust Statute, at which time the Issuer shall terminate and this Agreement (other
than Article VIII) shall be of no further force or effect.

     SECTION 9.3. Limitations on Termination. Except as provided in Section 9.1 and
9.2, neither the Seller nor the Residual Interestholder shall be entitled to revoke or
terminate the Issuer.

ARTICLE X

SUCCESSOR OWNER TRUSTEES AND ADDITIONAL

OWNER TRUSTEES

     SECTION 10.1. Eligibility Requirements for the Owner Trustee. The Owner Trustee shall at all
times be a bank (i) authorized to exercise corporate trust powers, (ii) having a combined capital
and surplus of at least $50,000,000 and (iii) subject to supervision or examination by Federal or
state authorities. If such bank shall publish reports of condition at least annually, pursuant to
law or to the requirements of the aforesaid supervising or examining authority, then for the
purpose of this Section, the combined capital and surplus of such corporation shall be deemed to be
its combined capital and surplus as set forth in its most recent report of condition so published.
The Owner Trustee shall at all times be an institution satisfying

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the provisions of Section 3807(a) of the Statutory Trust Statute. In case at any time the
Owner Trustee shall cease to be eligible in accordance with the provisions of this Section, the
Owner Trustee shall resign immediately in the manner and with the effect specified in Section
10.2.

     SECTION 10.2. Resignation or Removal of the Owner Trustee. The Owner Trustee may at any time
resign and be discharged from the trusts hereby created by giving written notice thereof to the
Seller, the Administrator, the Servicer, the Indenture Trustee and the Residual Interestholder.
Upon receiving such notice of resignation, the Seller and the Administrator, acting jointly, shall
promptly appoint a successor Owner Trustee which satisfies the eligibility requirements set forth
in Section 10.1 by written instrument, in duplicate, one copy of which instrument shall be
delivered to the resigning Owner Trustee and one copy to the successor Owner Trustee. If no
successor Owner Trustee shall have been so appointed and have accepted appointment within 30 days
after the giving of such notice of resignation, the resigning Owner Trustee may petition any court
of competent jurisdiction for the appointment of a successor Owner Trustee; provided,
however, that such right to appoint or to petition for the appointment of any such
successor shall in no event relieve the resigning Owner Trustee from any obligations otherwise
imposed on it under the Transaction Documents until such successor has in fact assumed such
appointment.

     If at any time the Owner Trustee shall cease to be eligible in accordance with the provisions
of Section 10.1 and shall fail to resign after written request therefor by the Seller or
the Administrator, or if at any time the Owner Trustee shall be legally unable to act, or shall be
adjudged bankrupt or insolvent, or a receiver of the Owner Trustee or of its property shall be
appointed, or any public officer shall take charge or control of the Owner Trustee or of its
property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Seller
or the Administrator may remove the Owner Trustee. If the Seller or the Administrator shall remove
the Owner Trustee under the authority of the immediately preceding sentence, the Seller and the
Administrator, acting jointly, shall promptly appoint a successor Owner Trustee by written
instrument, in duplicate, one copy of which instrument shall be delivered to the outgoing Owner
Trustee so removed and one copy to the successor Owner Trustee and shall pay all fees owed to the
outgoing Owner Trustee.

     Any resignation or removal of the Owner Trustee and appointment of a successor Owner Trustee
pursuant to any of the provisions of this Section shall not become effective until acceptance of
appointment by the successor Owner Trustee pursuant to Section 10.3 and payment of all fees
and expenses owed to the outgoing Owner Trustee. The Seller shall provide (or shall cause to be
provided) notice of such resignation or removal of the Owner Trustee to each of the Rating
Agencies.

     SECTION 10.3. Successor Owner Trustee. Any successor Owner Trustee appointed pursuant to
Section 10.2 shall execute, acknowledge and deliver to the Seller, the Administrator and to
its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and
thereupon the resignation or removal of the predecessor Owner Trustee shall become effective and
such successor Owner Trustee, without any further act, deed or conveyance, shall become fully
vested with all the rights, powers, duties and obligations of its predecessor under this Agreement,
with like effect as if originally named as the Owner Trustee. The predecessor Owner Trustee shall
upon payment of its fees and expenses deliver to the

19

 

successor Owner Trustee all documents and statements and monies held by it under this
Agreement; and the Seller and the predecessor Owner Trustee shall execute and deliver such
instruments and do such other things as may reasonably be required for fully and certainly vesting
and confirming in the successor Owner Trustee all such rights, powers, duties and obligations.

     No successor Owner Trustee shall accept appointment as provided in this Section unless at the
time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section
10.1.

     Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section, the
Seller shall mail (or shall cause to be mailed) notice of the successor of such Owner Trustee to
the Residual Interestholder, Indenture Trustee, the Noteholders and each of the Rating Agencies.
If the Seller shall fail to mail (or cause to be mailed) such notice within 10 days after
acceptance of appointment by the successor Owner Trustee, the successor Owner Trustee shall cause
such notice to be mailed at the expense of the Seller. Any successor Owner Trustee appointed
pursuant to this Section 10.3 shall promptly file an amendment to the Certificate of Trust
with the Secretary of State identifying the name and principal place of business of such successor
Owner Trustee in the State of Delaware.

     SECTION 10.4. Merger or Consolidation of the Owner Trustee. Any Person into which the Owner
Trustee may be merged or converted or with which it may be consolidated, or any Person resulting
from any merger, conversion or consolidation to which the Owner Trustee shall be a party, or any
Person succeeding to all or substantially all of the corporate trust business of the Owner Trustee,
shall, without the execution or filing of any instrument or any further act on the part of any of
the parties hereto, anything herein to the contrary notwithstanding, be the successor of the Owner
Trustee hereunder; provided that such Person shall be eligible pursuant to Section
10.1; and provided further that the Owner Trustee shall file an amendment to
the Certificate of Trust of the Issuer, if required by applicable law, and mail notice of such
merger or consolidation to the Seller and the Administrator.

     SECTION 10.5. Appointment of Co-Trustee or Separate Trustee. Notwithstanding any other
provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any
jurisdiction in which any part of the Trust Estate may at the time be located, the Seller and the
Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to
appoint one or more Persons approved by the Owner Trustee to act as co-trustee, jointly with the
Owner Trustee, or separate trustee or separate trustees, of all or any part of the Trust Estate,
and to vest in such Person, in such capacity, such title to the Issuer, or any part thereof, and,
subject to the other provisions of this Section, such powers, duties, obligations, rights and
trusts as the Seller and the Owner Trustee may consider necessary or desirable. If the Seller
shall not have joined in such appointment within 15 days after the receipt by it of a request so to
do, the Owner Trustee alone shall have the power to make such appointment. No co-trustee or
separate trustee under this Agreement shall be required to meet the terms of eligibility as a
successor trustee pursuant to Section 10.1 and no notice of the appointment of any
co-trustee or separate trustee shall be required pursuant to Section 10.3.

20

 

     Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and
act subject to the following provisions and conditions:

     (i) all rights, powers, duties and obligations conferred or imposed upon the
Owner Trustee shall be conferred upon and exercised or performed by the Owner
Trustee and such separate trustee or co-trustee jointly (it being understood that
such separate trustee or co-trustee is not authorized to act separately without the
Owner Trustee joining in such act), except to the extent that under any law of any
jurisdiction in which any particular act or acts are to be performed, the Owner
Trustee shall be incompetent or unqualified to perform such act or acts, in which
event such rights, powers, duties and obligations (including the holding of title to
the Issuer or any portion thereof in any such jurisdiction) shall be exercised and
performed singly by such separate trustee or co-trustee, but solely at the direction
of the Owner Trustee;

     (ii) no trustee under this Agreement shall be personally liable by reason of
any act or omission of any other trustee under this Agreement; and

     (iii) the Seller and the Owner Trustee acting jointly may at any time accept
the resignation of or remove any separate trustee or co-trustee.

     Any notice, request or other writing given to the Owner Trustee shall be deemed to have been
given to each of the then separate trustees and co-trustees, as effectively as if given to each of
them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement
and the conditions of this Article. Each separate trustee and co-trustee, upon its acceptance of
the trusts conferred, shall be vested with the estates or property specified in its instrument of
appointment, either jointly with the Owner Trustee or separately, as may be provided therein,
subject to all the provisions of this Agreement, specifically including every provision of this
Agreement relating to the conduct of, affecting the liability of, or affording protection to, the
Owner Trustee. Each such instrument shall be filed with the Owner Trustee and copies thereof given
to the Seller and the Administrator.

     Any separate trustee or co-trustee may at any time appoint the Owner Trustee, its agent or
attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any
lawful act under or in respect of this Agreement on its behalf and in its name. If any separate
trustee or co-trustee shall become incapable of acting, resign or be removed, all of its estates,
properties, rights, remedies and trusts shall vest in and be exercised by the Owner Trustee, to the
extent permitted by law, without the appointment of a new or successor trustee. The Owner Trustee
shall have no obligation to determine whether a co-trustee or separate trustee is legally required
in any jurisdiction in which any part of the Trust Estate may be located.

ARTICLE XI

MISCELLANEOUS

     SECTION 11.1. Amendments.

21

 

     (a) Any term or provision of this Agreement may be amended by the Seller and the Owner
Trustee without the consent of the Indenture Trustee, any Noteholder, the Issuer or any
other Person subject to the satisfaction of one of the following conditions:

     (i) the Seller delivers an Opinion of Counsel to the Indenture Trustee to the
effect that such amendment will not materially and adversely affect the interests of
the Noteholders; or

     (ii) the Rating Agency Condition is satisfied with respect to such amendment
and the Seller notifies the Indenture Trustee in writing that the Rating Agency
Condition is satisfied with respect to such amendment;

provided, that no amendment shall be effective which affects the rights, protections
or duties of the Indenture Trustee or the Owner Trustee without the prior written consent of
such Person.

     (b) This Agreement may also be amended from time to time by the Seller and the Owner
Trustee, with the consent of the Holders of Notes evidencing not less than a majority of the
aggregate principal amount of the Controlling Class, for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this
Agreement or of modifying in any manner the rights of the Noteholders. It will not be
necessary to obtain the consent of the Noteholders to approve the particular form of any
proposed amendment or consent, but it will be sufficient if such consent approves the
substance thereof. The manner of obtaining such consents (and any other consents of
Noteholders provided for in this Agreement) and of evidencing the authorization of the
execution thereof by Noteholders will be subject to such reasonable requirements as the
Indenture Trustee may prescribe, including the establishment of record dates pursuant to the
Note Depository Agreement.

     (c) Any term or provision of this Agreement may also be amended from time to time by
the Seller and the Owner Trustee to correct a material misstatement or omission of the terms
of this Agreement in the Prospectus or an offering memorandum with respect to the
Non-Investment Grade Notes without the consent of the Indenture Trustee, any Noteholder, the
Issuer or any other Person, provided, however, that the Seller shall provide
written notification of such amendment to the Indenture Trustee and promptly after execution
of any such amendment, the Seller shall furnish a copy of such amendment to the Indenture
Trustee.

     (d) Prior to the execution of any amendment pursuant to this Section 11.1, the
Seller shall provide written notification of the substance of such amendment to each Rating
Agency and the Owner Trustee; and promptly after the execution of any such amendment or
consent, the Seller shall furnish a copy of such amendment or consent to each Rating Agency,
the Owner Trustee and the Indenture Trustee.

     (e) Prior to the execution of any amendment to this Agreement, the Owner Trustee shall
be entitled to receive and conclusively rely upon an Opinion of Counsel stating that the
execution of such amendment is authorized or permitted by this

22

 

Agreement and that all conditions precedent to the execution and delivery of such
amendment have been satisfied. The Owner Trustee may, but shall not be obligated to, enter
into any such amendment which affects the Owner Trustee’s own rights, duties or immunities
under this Agreement.

     SECTION 11.2. No Legal Title to Trust Estate in Residual Interestholder. The Residual
Interestholder shall not have legal title to any part of the Trust Estate. The Residual
Interestholder shall be entitled to receive distributions with respect to its undivided beneficial
interest therein only in accordance with Articles V and IX. No transfer, by
operation of law or otherwise, of any right, title or interest of the Residual Interestholder to
and in its ownership interest in the Trust Estate shall operate to terminate this Agreement or the
trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title
to any part of the Trust Estate.

     SECTION 11.3. Limitations on Rights of Others. The provisions of this Agreement are solely
for the benefit of the Owner Trustee, the Seller, the Administrator, the Residual Interestholder
and, to the extent expressly provided herein, the Indenture Trustee and the Noteholders, and
nothing in this Agreement, whether express or implied, shall be construed to give to any other
Person any legal or equitable right, remedy or claim in the Trust Estate or under or in respect of
this Agreement or any covenants, conditions or provisions contained herein.

     SECTION 11.4. Notices. (a) Unless otherwise expressly specified or permitted by the terms
hereof, all notices shall be in writing and shall be deemed given by telecopy with receipt
acknowledged by the recipient thereof or upon receipt personally delivered, delivered by overnight
courier or mailed certified mail, return receipt requested or via electronic transmission, if to
the Owner Trustee, addressed as specified on Schedule II to the Sale and Servicing
Agreement; or, as to each party, at such other address as shall be designated by such party in a
written notice to each other party.

     (b) Any notice required or permitted to be given to a Residual Interestholder shall be
given by first-class mail, postage prepaid, at the address of such Residual Interestholder
as shall be designated by such party in a written notice to each other party. Any notice so
mailed within the time prescribed in this Agreement shall be conclusively presumed to have
been duly given, whether or not the Residual Interestholder receives such notice.

     SECTION 11.5. Severability. Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

     SECTION 11.6. Separate Counterparts. This Agreement may be executed by the parties hereto in
separate counterparts, each of which when so executed and delivered shall be an original, but all
such counterparts shall together constitute but one and the same instrument.

23

 

     SECTION 11.7. Successors and Assigns. All covenants and agreements contained herein shall be
binding upon, and inure to the benefit of, the Seller, the Owner Trustee and its successors and the
Residual Interestholder and its successors and permitted assigns, all as herein provided. Any
request, notice, direction, consent, waiver or other instrument or action by the Residual
Interestholder shall bind the successors and assigns of the Residual Interestholder.

     SECTION 11.8. No Petition.

     (a) To the fullest extent permitted by law each of the Owner Trustee (in its
individual capacity), the Seller, the Residual Interestholder, by accepting the Residual
Interest, and the Indenture Trustee and each Noteholder or Note Owner by accepting the
benefits of this Agreement, hereby covenants and agrees that prior to the date which is one
year and one day after payment in full of all obligations of each Bankruptcy Remote Party in
respect of all securities issued by the Bankruptcy Remote Parties such party shall not
commence, join or institute, with any other Person, any proceeding against such Bankruptcy
Remote Party under any bankruptcy, reorganization, arrangement, liquidation or insolvency
law or statute now or hereafter in effect in any jurisdiction.

     (b) The Seller’s obligations under this Agreement are obligations solely of the Seller
and will not constitute a claim against the Seller to the extent that the Seller does not
have funds sufficient to make payment of such obligations. In furtherance of and not in
derogation of the foregoing, each of the Owner Trustee (in its individual capacity and as
the Owner Trustee), by entering into or accepting this agreement, each Certificateholder, by
accepting a Certificate, and the Indenture Trustee and each Noteholder or Note Owner, by
accepting the benefits of this Agreement, hereby acknowledges and agrees that such Person
has no right, title or interest in or to the Other Assets of the Seller. To the extent
that, notwithstanding the agreements and provisions contained in the preceding sentence,
each of the Owner Trustee, the Indenture Trustee, each Noteholder or Note Owner and the
Certificateholder either (i) asserts an interest or claim to, or benefit from, Other Assets,
or (ii) is deemed to have any such interest, claim to, or benefit in or from Other Assets,
whether by operation of law, legal process, pursuant to applicable provisions of insolvency
laws or otherwise (including by virtue of Section 1111(b) of the Bankruptcy Code or any
successor provision having similar effect under the Bankruptcy Code), then such Person
further acknowledges and agrees that any such interest, claim or benefit in or from Other
Assets is and will be expressly subordinated to the indefeasible payment in full, which,
under the terms of the relevant documents relating to the securitization or conveyance of
such Other Assets, are entitled to be paid from, entitled to the benefits of, or otherwise
secured by such Other Assets (whether or not any such entitlement or security interest is
legally perfected or otherwise entitled to a priority of distributions or application under
applicable law, including insolvency laws, and whether or not asserted against the Seller),
including the payment of post-petition interest on such other obligations and liabilities.
This subordination agreement will be deemed a subordination agreement within the meaning of
Section 510(a) of the Bankruptcy Code. Each of the Owner Trustee (in its individual
capacity and as the Owner Trustee), by entering into or accepting this agreement, each
Certificateholder, by accepting a Certificate, and the Indenture Trustee and each Noteholder
or Note Owner, by accepting the benefits of this Agreement, hereby further

24

 

acknowledges and agrees that no adequate remedy at law exists for a breach of this
Section and the terms of this Section may be enforced by an action for specific performance.
The provisions of this Section will be for the third party benefit of those entitled to
rely thereon and will survive the termination of this Agreement.

     SECTION 11.9. Information Request. Owner Trustee shall provide any information regarding the
Issuer in its possession reasonably requested by the Servicer, the Issuer, the Seller or any of
their Affiliates, in order to comply with or obtain more favorable treatment under any current or
future law, rule, regulation, accounting rule or principle.

     SECTION 11.10. Headings. The headings of the various Articles and Sections herein are for
convenience of reference only and shall not define or limit any of the terms or provisions hereof.

     SECTION 11.11. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS,
RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     SECTION 11.12. Waiver of Jury Trial. To the extent permitted by applicable law, each party
hereto irrevocably waives all right of trial by jury in any action, proceeding or counterclaim
based on, or arising out of, under or in connection with this Agreement, any other Transaction
Document, or any matter arising hereunder or thereunder.

     SECTION 11.13. Form 10-D and Form 10-K Filings. So long as the Seller is filing Exchange Act
Reports with respect to the Issuer (i) no later than each Payment Date, the Owner Trustee shall
notify the Seller of any Form 10-D Disclosure Item with respect to the Owner Trustee, together with
a description of any such Form 10-D Disclosure Item in form and substance reasonably acceptable to
the Seller and (ii) no later than March 15 of each calendar year, commencing March 15, 2012, the
Owner Trustee shall notify the Seller in writing of any affiliations or relationships between the
Owner Trustee and any Item 1119 Party; provided, that no such notification need be made if
the affiliations or relationships are unchanged from those provided in the notification in the
prior calendar year.

     SECTION 11.14. Form 8-K Filings. So long as the Seller is filing Exchange Act Reports with
respect to the Issuer, the Owner Trustee shall promptly notify the Seller, but in no event later
than four (4) Business Days after its occurrence, of any Reportable Event of which a Responsible
Officer of the Owner Trustee has actual knowledge (other than a Reportable Event described in
clause (a) or (b) of the definition thereof as to which the Seller or the Servicer
has actual knowledge). The Owner Trustee shall be deemed to have actual knowledge of any such event
solely to the extent that it relates to the Owner Trustee in its individual capacity or any action
taken by the Owner Trustee (and not by someone else on its behalf) under this Agreement.

[Remainder of Page Intentionally Left Blank]

25

 

     IN WITNESS WHEREOF, the parties hereto have caused this Trust Agreement to be duly executed by
their respective officers hereunto duly authorized as of the day and year first above written.

	 	 	 	 	 
	 	WELLS FARGO DELAWARE TRUST COMPANY, N.A.,

as Owner Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Amended and Restated Trust Agreement (2011-1)

S-1

 

	 	 	 	 	 
	 	SANTANDER DRIVE AUTO RECEIVABLES LLC

 	 
	 	By:  	 	 
	 	 	Name:  	Andrew Kang 	 
	 	 	Title:  	Vice President 	 
	 

 Amended and Restated Trust Agreement (2011-1)

S-2

 

EXHIBIT A

FORM OF CERTIFICATE

			
	NUMBER
	 	100% BENEFICIAL INTEREST
	R-____	 	 

SANTANDER DRIVE AUTO RECEIVABLES TRUST 2011-1

CERTIFICATE

     Evidencing the 100% beneficial interest in all of the assets of the Issuer (as defined below),
which consist primarily of motor vehicle receivables, including motor vehicle retail installment
sales contracts and/or installment loans that are secured by new and used automobiles, light-duty
trucks and vans.

     (This Certificate does not represent an interest in or obligation of Santander Drive Auto
Receivables LLC, Santander Consumer USA Inc. or any of their respective Affiliates, except to the
extent described below.)

     THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY OTHER APPLICABLE
SECURITIES OR “BLUE SKY” LAWS OF ANY STATE OR OTHER JURISDICTION, AND MAY NOT BE RESOLD, ASSIGNED,
PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT OR ANY OTHER APPLICABLE SECURITIES OR “BLUE SKY” LAWS, PURSUANT TO AN EXEMPTION
THEREFROM OR IN A TRANSACTION NOT SUBJECT THERETO.

     NEITHER THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE ACQUIRED OR HELD (IN THE INITIAL
ACQUISITION OR THROUGH A TRANSFER) BY OR FOR THE ACCOUNT OF OR WITH ANY ASSETS OF (A) AN “EMPLOYEE
BENEFIT PLAN” AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS
AMENDED (“ERISA”), WHICH IS SUBJECT TO TITLE I OF ERISA, (B) A “PLAN” DESCRIBED BY SECTION
4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), WHICH IS SUBJECT TO
SECTION 4975 OF THE CODE, (C) ANY ENTITY DEEMED TO HOLD THE PLAN ASSETS OF ANY OF THE FOREGOING BY
REASON OF AN EMPLOYEE BENEFIT PLAN’S OR A PLAN’S INVESTMENT IN THE ENTITY OR (D) ANY GOVERNMENTAL,
NON-U.S., OR CHURCH PLAN OR ANY OTHER EMPLOYEE BENEFIT PLAN OR RETIREMENT ARRANGEMENT THAT IS
SUBJECT TO ANY FEDERAL, STATE, LOCAL OR OTHER LAW THAT IS SUBSTANTIALLY SIMILAR TO SECTION 406 OF
ERISA OR SECTION 4975 OF THE CODE (“SIMILAR LAW”).

     THIS CERTIFIES THAT _____________________ is the registered owner of a 100% nonassessable,
fully-paid, beneficial interest in the Trust Estate of SANTANDER DRIVE AUTO RECEIVABLES TRUST
2011-1, a Delaware statutory trust (the “Issuer”)

A-1 

 

formed by Santander Drive Auto
Receivables LLC, a Delaware limited liability company, as depositor (the “Seller”).

     The Issuer was created pursuant to a Trust Agreement dated as of April 7, 2011 (as amended and
restated as of May 4, 2011, the “Trust Agreement”), between the Seller and Wells Fargo
Delaware Trust Company, N.A., as owner trustee (the “Owner Trustee”), a summary of certain
of the pertinent provisions of which is set forth below. To the extent not otherwise defined
herein, the capitalized terms used herein have the meanings assigned to them in the Sale and
Servicing Agreement, dated as of May 4, 2011, between the Seller, the Issuer, Deutsche Bank Trust
Company Americas, as Indenture Trustee, and Santander Consumer USA Inc., as Servicer, as the same
may be amended or supplemented from time to time.

     This Certificate is issued under and is subject to the terms, provisions and conditions of the
Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the
acceptance hereof assents and by which such holder is bound. The provisions and conditions of the
Trust Agreement are hereby incorporated by reference as though set forth in their entirety herein.

     The holder of this Certificate acknowledges and agrees that its rights to receive
distributions in respect of this Certificate are subordinated to the rights of the Noteholders as
described in the Indenture, the Sale and Servicing Agreement and the Trust Agreement, as
applicable.

     THIS CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE,
WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF
THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     By accepting this Certificate, the Certificateholder hereby covenants and agrees that prior to
the date which is one year and one day after payment in full of all obligations of each Bankruptcy
Remote Party in respect of all securities issued by the Bankruptcy Remote Parties such Person
shall not commence, join or institute against, with any other Person, any proceeding against such
Bankruptcy Remote Party under any bankruptcy, reorganization, liquidation or insolvency law or
statute now or hereafter in effect in any jurisdiction.

     By accepting and holding this Certificate (or any interest herein), the holder hereof shall be
deemed to have represented and warranted that it is not, and is not purchasing on behalf of or with
any assets of, a Benefit Plan or a governmental, non-U.S., church or any other employee benefit
plan or retirement arrangement that is subject to Similar Law.

     It is the intention of the parties to the Trust Agreement that, solely for federal income or
state and local income, franchise and value added tax purposes, (i) so long as there is a single
Certificateholder, the Issuer will be disregarded as an entity separate from such
Certificateholder, and if there is more than one Certificateholder, the Issuer will be treated as a
partnership that is not treated as a publicly traded partnership; and (ii) the Notes will be
characterized as debt. By

A-2 

 

accepting this Certificate, the Certificateholder agrees to take no
action inconsistent with the foregoing intended tax treatment.

     By accepting this Certificate, the Certificateholder acknowledges that this Certificate
represents a beneficial interest in the Issuer only and does not represent interests in or
obligations of the Seller, the Servicer, the Administrator, the Owner Trustee, the Indenture
Trustee or any of their respective Affiliates and no recourse may be had against such parties or
their assets, except as expressly set forth or contemplated in this Certificate, the Trust
Agreement or any other Transaction Document.

A-3 

 

     IN WITNESS WHEREOF, the Issuer has caused this Certificate to be duly executed.

	 	 	 	 	 
	 	SANTANDER DRIVE AUTO RECEIVABLES TRUST 2011-1

 	 
	 	By:  	Wells Fargo Delaware Trust Company, N.A.,
 	 
	 	 	not in its individual capacity, but solely as Owner Trustee 	 

	 	 	 	 	 
	 	 	 
	Dated:________________________	By:  	 	 
	 	 	 	 

A-4 

 

	 	 	 	 	 

OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION

     This is the Certificate referred to in the within-mentioned Trust Agreement.

	 	 	 	 	 
	 	WELLS FARGO DELAWARE TRUST COMPANY,
N.A., 

not in its
individual capacity but solely as Owner Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

A-5exv4w2

 Exhibit 4.2

 

CCO HOLDINGS, LLC

and

CCO HOLDINGS CAPITAL CORP.,

as Issuers,

CHARTER COMMUNICATIONS, INC.,

as Parent Guarantor

and

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Trustee

 

INDENTURE

Dated as
of May [  ]

 

PROVIDING FOR ISSUANCE OF SENIOR DEBT SECURITIES

 

 

 

CROSS-REFERENCE TABLE*

	 	 	 
	Trust Indenture	 	Indenture
	Act Section	 	Section
	310 (a)(1)
	 	7.10
	(a)(2)
	 	7.10
	(a)(3)
	 	N.A.
	(a)(4)
	 	N.A.
	(a)(5)
	 	7.10
	(b)
	 	7.10
	(c)
	 	N.A.
	311 (a)
	 	7.11
	(b)
	 	7.11
	(c)
	 	N.A.
	312 (a)
	 	2.05
	(b)
	 	11.03
	(c)
	 	11.03
	313 (a)
	 	7.06
	(b)(1)
	 	N.A.
	(b)(2)
	 	7.06; 7.07
	(c)
	 	7.06; 11.02
	(d)
	 	7.06
	314 (a)
	 	4.04; 11.02; 11.04
	(b)
	 	N.A.
	(c)(1)
	 	11.04
	(c)(2)
	 	11.04
	(c)(3)
	 	N.A.
	(d)
	 	N.A.
	(e)
	 	11.05
	(f)
	 	N.A.
	315 (a)
	 	7.01; 7.02
	(b)
	 	7.05; 11.02
	(c)
	 	7.01
	(d)
	 	7.01
	(e)
	 	6.11
	316 (a) (last
sentence)
	 	2.09
	(a)(1)(A)
	 	6.05
	(a)(1)(B)
	 	6.04
	(a)(2)
	 	N.A.
	(b)
	 	6.07
	(c)
	 	2.12
	317 (a)(1)
	 	6.08
	(a)(2)
	 	6.09
	(b)
	 	2.04
	318 (a)
	 	11.01
	(b)
	 	N.A.
	(c)
	 	11.01

			
	N.A. means not applicable.
	 

	 
	*	 	This Cross Reference Table is not part of this Indenture.

-i-

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1

	 
	 	 	 	 
	DEFINITIONS AND INCORPORATION BY REFERENCE

	 
	 	 	 	 
	Section 1.01 Definitions
	 	 	1	 
	Section 1.02 Other Definitions
	 	 	6	 
	Section 1.03 Incorporation by Reference of Trust Indenture Act
	 	 	7	 
	Section 1.04 Rules of Construction
	 	 	7	 
	 
	 	 	 	 
	ARTICLE 2

	 
	 	 	 	 
	THE NOTES

	 
	 	 	 	 
	Section 2.01 Form and Dating
	 	 	8	 
	Section 2.02 Execution and Authentication
	 	 	10	 
	Section 2.03 Registrar and Paying Agent
	 	 	11	 
	Section 2.04 Paying Agent to Hold Money in Trust
	 	 	12	 
	Section 2.05 Holder Lists
	 	 	12	 
	Section 2.06 Transfer and Exchange
	 	 	12	 
	Section 2.07 Replacement Notes
	 	 	26	 
	Section 2.08 Outstanding Notes
	 	 	26	 
	Section 2.09 Treasury Notes
	 	 	26	 
	Section 2.10 Temporary Notes
	 	 	27	 
	Section 2.11 Cancellation
	 	 	27	 
	Section 2.12 Defaulted Interest
	 	 	27	 
	Section 2.13 CUSIP Numbers
	 	 	27	 
	 
	 	 	 	 
	ARTICLE 3

	 
	 	 	 	 
	REDEMPTION AND PREPAYMENT

	 
	 	 	 	 
	Section 3.01 Redemption and Prepayment
	 	 	28	 
	 
	ARTICLE 4

	 
	 	 	 	 
	COVENANTS

	 
	 	 	 	 
	Section 4.01 Payment of Notes
	 	 	28	 
	Section 4.02 Maintenance of Office or Agency
	 	 	28	 

-ii-

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 5

	 
	 	 	 	 
	SUCCESSORS

	 
	 	 	 	 
	Section 5.01 Merger, Consolidation or Sale of Assets
	 	 	29	 
	Section 5.02 Successor Corporation Substituted
	 	 	29	 
	 
	 	 	 	 
	ARTICLE 6

	 
	 	 	 	 
	DEFAULTS AND REMEDIES

	 
	 	 	 	 
	Section 6.01 Events of Default
	 	 	30	 
	Section 6.02 Acceleration
	 	 	31	 
	Section 6.03 Other Remedies
	 	 	32	 
	Section 6.04 Waiver of Existing Defaults
	 	 	32	 
	Section 6.05 Control by Majority
	 	 	32	 
	Section 6.06 Limitation on Suits
	 	 	32	 
	Section 6.07 Rights of Holders of Notes to Receive Payment
	 	 	33	 
	Section 6.08 Collection Suit by Trustee
	 	 	33	 
	Section 6.09 Trustee May File Proofs of Claim
	 	 	33	 
	Section 6.10 Priorities
	 	 	34	 
	Section 6.11 Undertaking for Costs
	 	 	34	 
	 
	 	 	 	 
	ARTICLE 7

	 
	 	 	 	 
	TRUSTEE

	 
	 	 	 	 
	Section 7.01 Duties of Trustee
	 	 	34	 
	Section 7.02 Rights of Trustee
	 	 	36	 
	Section 7.03 Individual Rights of Trustee
	 	 	37	 
	Section 7.04 Trustee’s Disclaimer
	 	 	37	 
	Section 7.05 Notice of Defaults
	 	 	37	 
	Section 7.06 Reports by Trustee to Holders
	 	 	38	 
	Section 7.07 Compensation and Indemnity
	 	 	38	 
	Section 7.08 Replacement of the Trustee
	 	 	39	 
	Section 7.09 Successor Trustee by Merger, etc
	 	 	40	 
	Section 7.10 Eligibility; Disqualification
	 	 	40	 
	Section 7.11 Preferential Collection of Claims Against the Issuers
	 	 	40	 

-iii-

 

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 8

	 
	 	 	 	 
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE

	 
	 	 	 	 
	Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	40	 
	Section 8.02 Legal Defeasance and Discharge
	 	 	40	 
	Section 8.03 Covenant Defeasance
	 	 	41	 
	Section 8.04 Conditions to Legal or Covenant Defeasance
	 	 	42	 
	Section 8.05 Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions
	 	 	43	 
	Section 8.06 Repayment to Issuers
	 	 	43	 
	Section 8.07 Reinstatement
	 	 	44	 
	 
	 	 	 	 
	ARTICLE 9

	 
	 	 	 	 
	AMENDMENT, SUPPLEMENT AND WAIVER

	 
	 	 	 	 
	Section 9.01 Without Consent of Holders of Notes
	 	 	44	 
	Section 9.02 With Consent of Holders of Notes
	 	 	45	 
	Section 9.03 Compliance with Trust Indenture Act
	 	 	47	 
	Section 9.04 Revocation and Effect of Consents
	 	 	47	 
	Section 9.05 Notation on or Exchange of Notes
	 	 	47	 
	Section 9.06 Trustee to Sign Amendments, etc
	 	 	47	 
	 
	 	 	 	 
	ARTICLE 10

	 
	 	 	 	 
	GUARANTEE

	 
	 	 	 	 
	Section 10.01 Guarantee
	 	 	47	 
	Section 10.02 Limitation on Liability
	 	 	50	 
	Section 10.03 Successors and Assigns
	 	 	51	 
	Section 10.04 No Waiver
	 	 	51	 
	Section 10.05 Modification
	 	 	51	 
	Section 10.06 Execution of Supplemental Indenture for Future Guarantors
	 	 	51	 
	Section 10.07 Non-Impairment
	 	 	52	 
	 
	 	 	 	 
	ARTICLE 11

	 
	 	 	 	 
	MISCELLANEOUS

	 
	 	 	 	 
	Section 11.01 Trust Indenture Act Controls
	 	 	52	 
	Section 11.02 Notices
	 	 	52	 
	Section 11.03 Communication by Holders with Other Holders
	 	 	53	 
	Section 11.04 Certificate and Opinion as to Conditions Precedent
	 	 	53	 

-iv-

 

	 	 	 	 	 
	 	 	Page	 
	Section 11.05 Statements Required in Certificate or Opinion
	 	 	54	 
	Section 11.06 Rules by Trustee and Agents
	 	 	54	 
	Section 11.07 No Personal Liability of Directors, Officers, Employees, Members and Stockholders
	 	 	54	 
	Section 11.08 Governing Law
	 	 	55	 
	Section 11.09 No Adverse Interpretation of Other Agreements
	 	 	55	 
	Section 11.10 Successors
	 	 	55	 
	Section 11.11 Severability
	 	 	55	 
	Section 11.12 Counterpart Originals
	 	 	55	 
	Section 11.13 Table of Contents, Headings, etc
	 	 	55	 
	Section 11.14 Waiver of Jury Trial
	 	 	55	 
	Section 11.15 Force Majeure
	 	 	56	 
	 
	 	 	 	 
	ARTICLE 12

	 
	 	 	 	 
	SATISFACTION AND DISCHARGE

	 
	 	 	 	 
	Section 12.01 Satisfaction and Discharge of Indenture
	 	 	56	 
	Section 12.02 Application of Trust Money
	 	 	57	 

-v-

 

          INDENTURE
dated as of May [  ], 2011 among CCO Holdings, LLC, a Delaware
limited liability company (as further defined below, the “Company”), CCO Holdings Capital Corp., a
Delaware corporation (as further defined below, “Capital Corp” and together with the Company, the
“Issuers”), Charter Communications, Inc., a Delaware corporation (as further defined below, “CCI”
or the “Parent Guarantor”) (with respect to
Article 10 and Section 7.07 only) and The Bank of New
York Mellon Trust Company, N.A., as trustee (the “Trustee”).

WITNESSETH :

          WHEREAS,
the Issuers have duly authorized the execution and delivery of this Indenture to
provide for the issuance of unsecured debentures, notes, bonds or other evidences of indebtedness
(the “Notes”) in an unlimited aggregate principal amount to be issued from time to time in one or
more series as provided in this Indenture; and

          WHEREAS, all things necessary to make this Indenture a valid and legally binding agreement of
the Issuers, in accordance with its terms, have been done.

          The Issuers and the Trustee agree as follows for the benefit of each other and for the equal
and ratable benefit of the Holders of the Notes:

ARTICLE 1

DEFINITIONS AND INCORPORATION BY REFERENCE

Section 1.01 Definitions.

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

          “Agent” means any Registrar or Paying Agent.

          “Applicable Procedures” means, with respect to any transfer or transaction involving a Global
Note or beneficial interest therein, the rules and procedures of the Depositary, Euroclear and
Clearstream, in each case to the extent applicable to such transaction and as in effect from time
to time.

          “Bankruptcy
Law” means Title 11, U.S. Code or any similar Federal or state law of
any jurisdiction relating to bankruptcy, insolvency, winding up, liquidation, reorganization or relief of debtors.

          “Board of Directors” means the board of directors or comparable governing body of CCI or if
specified, the Company, as the case may be, in either case as constituted as of the date of any
determination required to be made, or action required to be taken, pursuant to this Indenture.

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

 

 

          “Capital Corp” means CCO Holdings Capital Corp., a Delaware corporation, and any successor
Person thereto.

          “Capital Stock” means:

	 	(1)	 	in the case of a corporation, corporate stock;
	 
	 	(2)	 	in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock;
	 
	 	(3)	 	in the case of a partnership or limited
liability company, partnership or membership interests (whether general or limited); and
	 
	 	(4)	 	any other interest (other than any debt obligation) 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.

          “CCI” means Charter Communications, Inc., a Delaware corporation, and any successor Person
thereto.

          “Clearstream” means Clearstream Banking, société anonyme (formerly Cedelbank).

          “Commission” or “SEC” means the Securities and Exchange Commission.

          “Company” means CCO Holdings, LLC, a Delaware limited liability company, and any successor
Person thereto, but for the avoidance of doubt, does not include any of its Subsidiaries.

          “Corporate Trust Office of the Trustee” shall be at the address of the Trustee specified in
Section 11.02 or such other address as to which the Trustee may designate from time to time by
notice to the Holders and the Company, or the principal corporate trust office of any successor
Trustee.

          “Default” means any event that is, or with the passage of time or the giving of notice or both
would be, an Event of Default; provided, that any Default that results solely from the taking of an
action that would have been permitted but for the continuation of a previous Default will be deemed
to be cured if such previous Default is cured prior to becoming an Event of Default.

          “Definitive Note” means a certificated Note registered in the name of the Holder thereof and
issued in accordance with Section 2.06, substantially in the form of Exhibit A hereto
except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of
Exchanges of Interests in the Global Note” attached thereto.

          “Depositary” means, with respect to the securities of any series, the Person specified in
Section 2.03 as the Depositary with respect to the Notes, and any and all successors thereto
appointed as depositary hereunder and having become such pursuant to the applicable provision of
this Indenture.

          “Euroclear” means Morgan Guaranty Trust Company of New York, Brussels office, as operator of
the Euroclear system.

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

          “Global Note Legend” means the legend set forth in Section 2.06(g)(ii) which is required to be
placed on all Global Notes issued under this Indenture.

          “Global Notes” means, individually and collectively, each of the Restricted Global Notes and
the Unrestricted Global Notes.

-2-

 

          “Government Securities” means direct obligations of, or obligations guaranteed by, the United
States of America, and the payment for which the United States pledges its full faith and credit.

          “Guarantee” or “guarantee” means a guarantee other than by endorsement of negotiable
instruments for collection in the ordinary course of business, direct or indirect, in any manner
including, without limitation, by way of a pledge of assets or through letters of credit or
reimbursement agreements in respect thereof, of all or any part of any Indebtedness, measured as
the lesser of the aggregate outstanding amount of the Indebtedness so guaranteed and the face
amount of the guarantee.

          “Guarantor” means the Parent Guarantor and any Subsidiary that executes a supplemental
indenture and provides a Subsidiary Guarantee in accordance with the terms of any supplemental
indenture.

          “Holder” means a holder of the Notes.

          “Indebtedness” means, with respect to any specified Person, any indebtedness of such Person,
whether or not contingent:

	 	(1)	 	in respect of borrowed money;
	 
	 	(2)	 	evidenced by bonds, notes, debentures or similar instruments or letters of credit (or
reimbursement agreements in respect thereof);
	 
	 	(3)	 	in respect of banker’s acceptances;
	 
	 	(4)	 	representing Capital Lease Obligations or Attributable Debt;
	 
	 	(5)	 	in respect of the balance deferred and unpaid of the purchase price of any property due
more than six months after the property is acquired, except any such balance that
constitutes an accrued expense or trade payable; or
	 
	 	(6)	 	represented by Hedging Obligations only to the extent an amount is then owed and is
payable pursuant to the terms of such Hedging Obligations;

if and to the extent any of the preceding items would appear as a liability upon a balance
sheet of the specified Person prepared in accordance with GAAP.

          The term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the
specified Person (whether or not such Indebtedness is assumed by the specified Person) and, to the
extent not otherwise included, the guarantee by such Person of any indebtedness of any other
Person. The amount of any Indebtedness outstanding as of any date shall be:

	 	(1)	 	the accreted value thereof, in the case of any Indebtedness issued with original issue
discount; and
	 
	 	(2)	 	the principal amount thereof, together with any interest thereon that is more than 30
days past due, in the case of any other Indebtedness.

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

          “Indirect Participant” means a Person who holds a beneficial interest in a Global Note through
a Participant.

          “Institutional Accredited Investor” means an institution that is an “accredited investor” as
defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act that is not also a QIB.

          “Issuers” has the meaning assigned to it in the preamble to this Indenture.

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

          “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or
encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under applicable law, including any conditional sale or other title retention agreement,
any lease in the nature thereof, any option or other agreement to sell or give a security interest
and any filing of or agreement to give any financing statement under the Uniform Commercial Code
(or equivalent statutes) of any jurisdiction.

          “Non-U.S. Person” means a Person who is not a U.S. Person.

          “Note”
or “Notes” has the meaning assigned to it in the
preamble.

          “Note Guarantee” means any guarantee of the obligations of the Issuers under this Indenture
and the Notes by any Person in accordance with the provisions of this Indenture.

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

          “Officers’ Certificate” means a certificate signed on behalf of the Company or Capital Corp,
as the case may be, by two Officers of the Company or Capital Corp, as the case may be, one of whom
must be the principal executive officer, the chief financial officer or the

-3-

 

treasurer of the Company or Capital Corp, as the case may be, that meets the requirements of
Section 11.05.

          “Opinion of Counsel” means an opinion from legal counsel that meets the requirements of
Section 11.05. The counsel may be an employee of or counsel to the Company or any Subsidiary of
the Company.

          “Parent Guarantee” means the Note Guarantee of CCI and its successors.

          “Parent Guarantor” means CCI and its successors.

          “Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who
has an account with the Depositary, Euroclear or Clearstream, respectively (and, with respect to
DTC, shall include Euroclear and Clearstream).

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

          “Private Placement Legend” means the legend set forth in Section 2.06(g)(i)(a) to be placed on
all Additional Notes issued under this Indenture except where otherwise permitted by the provisions
of this Indenture.

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

          “Register” means a register in which, subject to such reasonable regulations as it may
prescribe, the Issuers shall provide for the registration of the Notes and of transfers and
exchanges of such Notes which the Issuers shall cause to be kept at the appropriate office of the
Registrar in accordance with Section 2.03.

          “Registration Rights Agreement” means any registration rights agreement among the Issuers and
the initial purchasers named therein with respect to any Additional Notes.

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

          “Regulation S Global Note” means a global note substantially in the form of Exhibit A
hereto bearing the Global Note Legend, the Private Placement Legend and the Regulation S Legend
deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that
will be issued in an initial denomination equal to the outstanding principal amount of any
Additional Notes initially sold in reliance on Rule 903 of Regulation S.

          “Regulation S Legend” means the legend set forth in Section 2.06(g)(iii) which is required to
be placed on all Regulation S Global Notes issued under this Indenture.

          “Responsible Officer” when used with respect to the Trustee, means any officer within the
Corporate Trust Administration of the Trustee (or any successor group of the Trustee) who
customarily performs functions similar to those performed by the Persons who at the time shall be
such officer and with direct responsibility for the administration of this Indenture and

-4-

 

also means, with respect to a particular corporate trust matter, any other officer to whom
such matter is referred because of his knowledge of and familiarity with the particular subject.

          “Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend.

          “Restricted Global Note” means a Global Note bearing the Private Placement Legend.

          “Restricted
Subsidiary” of a Person means any Subsidiary of the referent Person that is not an Unrestricted Subsidiary.

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

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

          “Rule 144A Global Note” means a global note substantially in the form of Exhibit A
hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on
behalf of, and registered in the name of, the Depositary or its nominee that will be issued in an
initial denomination equal to the outstanding principal amount of any Additional Notes initially
sold in reliance on Rule 144A.

          “Rule 903” means Rule 903 promulgated under the Securities Act.

          “Rule 904” means Rule 904 promulgated under the Securities Act.

          “Security”
or “Securities” means one or more of the Notes duly authenticated by the
Trustee and delivered pursuant to the provisions of this Indenture.

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

          “Shelf Registration Statement” means a “shelf” registration statement providing for the
registration and the sale on a continuous or delayed basis of any Additional Notes as may be
provided in any Registration Rights Agreement.

          “Significant Subsidiary” means (a) with respect to any Person, any Restricted Subsidiary of
such Person which would be considered a “Significant Subsidiary” as defined in Rule 1-02(w) of
Regulation S-X under the Securities Act and (b) in addition, with respect to the Company, Capital
Corp.

          “Stated Maturity” means, with respect to any installment of interest or principal on any
series of Indebtedness, the date on which such payment of interest or principal was scheduled to be
paid in the documentation governing such Indebtedness, or, if none, the original documentation
governing such Indebtedness, and shall not include any contingent obligations to repay, redeem or
repurchase any such interest or principal prior to the date originally scheduled for the payment
thereof.

          “Subsidiary” means, with respect to any Person:

     (1) any corporation, association or other business entity of which at least 50% of the
total voting power of shares of Capital Stock entitled (without regard to the

-5-

 

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 such Person
or one or more of the other Subsidiaries of that Person (or a combination thereof) and, in
the case of any such entity of which 50% of the total voting power of shares of Capital
Stock is so owned or controlled by such Person or one or more of the other Subsidiaries of
such Person, such Person and its Subsidiaries also have the right to control the management
of such entity pursuant to contract or otherwise; and

     (2) any partnership (a) the sole general partner or the managing general partner of
which is such Person or a Subsidiary of such Person or (b) the only general partners of
which are such Person or one or more Subsidiaries of such Person (or any combination
thereof).

          “Tax” shall mean any tax, duty, levy, impost, assessment or other governmental charge
(including penalties, interest and any other liabilities related thereto).

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

          “Trustee” means The Bank of New York Mellon Trust Company, N.A., until a successor replaces
The Bank of New York Mellon Trust Company, N.A., in accordance with the applicable provisions of
this Indenture and thereafter means the successor serving hereunder.

          “Unrestricted Definitive Note” means one or more Definitive Notes that do not bear and are not
required to bear the Private Placement Legend.

          “Unrestricted Global Note” means a permanent Global Note substantially in the form of
Exhibit A attached hereto that bears the Global Note Legend and that has the “Schedule of
Exchanges of Interests in the Global Note” attached thereto, and that is deposited with or on
behalf of and registered in the name of the Depositary, representing the Initial Notes or any
Additional Notes that do not bear the Private Placement Legend.

          “U.S. Person” means a U.S. person as defined in Rule 902(k) under the Securities Act.

Section 1.02 Other Definitions.

	 	 	 	 	 
	 	 	Defined
	Term	 	in Section
	“Authentication Order”
	 	 	2.02	 
	“Covenant Defeasance”
	 	 	8.03	 
	“DTC”
	 	 	2.03	 
	“Event of Default”
	 	 	6.01	 
	“Legal Defeasance”
	 	 	8.02	 
	“Paying Agent”
	 	 	2.03	 
	“Payment Default”
	 	 	6.01	 
	“Purchase Date”
	 	 	3.09	 
	“Registrar”
	 	 	2.03	 

-6-

 

Section 1.03 Incorporation by Reference of Trust Indenture Act.

          Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture.

          The following TIA terms used in this Indenture have the following meanings:

          “indenture securities” means the Notes;

          “indenture security holder” means a Holder of a Note;

          “indenture to be qualified” means this Indenture;

          “indenture trustee” or “institutional trustee” means the Trustee; and

          “obligor” on the Notes means the Issuers and any successor obligor upon the Notes.

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

Section 1.04 Rules of Construction.

          Unless the context otherwise requires:

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

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

     (iii) “or” is not exclusive;

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

     (v) provisions apply to successive events and transactions;

     (vi) references to sections of or rules under the Securities Act shall be deemed to
include substitute, replacement or successor sections or rules adopted by the SEC from time
to time;

-7-

 

     (vii) references to any statute, law, rule or regulation shall be deemed to refer to
the same as from time to time amended and in effect and to any successor statute, law, rule
or regulation;

     (viii) references to any contract, agreement or instrument shall mean the same as
amended, modified, supplemented or amended and restated from time to time, in each case, in
accordance with any applicable restrictions contained in this Indenture; and

     (ix) “including” means “including, without limitation.”

ARTICLE 2

THE NOTES

Section 2.01 Form and Dating.

     (a) General. The Notes shall be substantially in the form of Exhibit A hereto. The
Notes may have notations, legends or endorsements required by law, stock exchange rule or usage or
this Indenture and may reference terms of the Notes. Each Note shall be dated the date of its
authentication.

          The aggregate principal amount of Notes that may be authenticated and delivered under this
Indenture is unlimited. The Notes may be issued in one or more series. There shall be set forth
in one or more indentures supplemental hereto, prior to the issuance of Notes of any series:

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

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

          (c) the dates on which or periods during which the Notes of the series may be issued, and the
dates on, or the range of dates within, which the principal of and premium, if any, on the Notes of
such series are or may be payable or the method by which such date or dates shall be determined or
extended;

          (d) the rate or rates at which the Notes of the series shall bear interest, if any, or the
method by which such rate or rates shall be determined, whether such interest shall be payable in
cash or additional Notes of the same series or shall accrue and increase the aggregate
principal amount outstanding of such series (including if such Securities were originally
issued at a discount), the date or dates from which such interest shall accrue, or the method by
which such date or dates shall be determined, the interest payment dates on which any such interest
shall be payable, and the record dates for the determination of Holders to whom interest is payable
on such interest payment dates or the method by which such date or dates shall be determined, the
right, if any, to extend or defer interest payments and the duration of such extension or deferral;

-8-

 

          (e) if other than U.S. Dollars, the currency in which Notes of the series shall be denominated
or in which payment of the principal of, premium, if any, or interest in the Notes of the series
shall be payable and any other terms concerning such payment;

          (f) the place or places, if any, in addition to or instead of the Corporate Trust Office of
the Trustee where the principal of, premium, if any, and interest on Securities of the series shall
be payable, and where Securities of any series may be presented for registration of transfer,
exchange or conversion, and the place or places where notices and
demands to or upon the Issuers in
respect of the Securities of such series may be made;

          (g) the price or prices at which, the period or periods within which or the date or dates on
which, and the terms and conditions upon which Securities of the series may be redeemed, in whole
or in part, at the option of the Issuers, if the Issuers are to have that option;

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

          (i) if other than the principal amount thereof, the portion of the principal amount of the
securities of the series which shall be payable upon declaration of acceleration of the maturity
thereof;

          (j) the Guarantors, if any, of the Notes of the series, and the extent of the guarantees
(including provisions relating to seniority, subordination, and the release of the Guarantors), if
any, and any additions or changes to permit or facilitate guarantees of such Securities;

          (k) whether the Notes of the series are to be issued as original issue discount Securities and
the amount of discount with which such Notes may be issued;

          (l) provisions, if any, for the defeasance of Notes of the series in whole or in part and any
addition or change in the provisions related to satisfaction and discharge;

          (m) whether the Notes of the series are to be issued in whole or in part in the form of one or
more Global Notes, and, in such case, the Depositary for such Global Notes, and the terms and
conditions, if any, upon which interests in such Global Note or Global Notes may be exchanged in
whole or in part for the individual Notes represented thereby in definitive form
registered in the name or names of Persons other than such Depositary or a nominee or nominees
thereof;

          (n) the date as of which any Global Notes of the series shall be dated if other than the
original issuance of the first Security of the series to be issued;

          (o) the form of the Notes of the series;

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          (p) whether the Notes of such series are subject to subordination and the terms of such
subordination;

          (q) any restriction or condition on the transferability of the Notes such series;

          (r) any addition or change in the provisions related to compensation and reimbursement of the
Trustee which applies to Securities of such series;

          (s) any addition or change in the provisions related to supplemental indentures which applies
to Notes of such series;

          (t) provisions, if any, granting special rights to Holders upon the occurrence of specified
events;

          (u) any addition to or change in the Events of the Default which applies to any Notes of the
series; and

          (v) any other terms of the Notes of such series (which terms shall not be inconsistent with
the provisions of this Indenture, except as permitted by Section 9.01).

     (b) Global Notes. Notes issued in global form shall be substantially in the form of
Exhibit A (including the Global Note Legend thereon and the “Schedule of Exchanges of
Interests in the Global Note” attached thereto). Notes issued in definitive form shall be
substantially in the form of Exhibit A (without the Global Note Legend thereon and without
the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note
shall represent such outstanding Notes as shall be specified therein and each shall provide that it
shall represent the aggregate principal amount of outstanding Notes from time to time endorsed
thereon and that the aggregate principal amount of outstanding Notes represented thereby may from
time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any
endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate
principal amount of outstanding Notes represented thereby shall be made by the Trustee or the
custodian, at the direction of the Trustee, in accordance with instructions given by the Holder
thereof as required by Section 2.06.

     (c) [Reserved].

     (d) Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating
Procedures of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear” and the
“General Terms and Conditions of Clearstream” and “Customer Handbook”
of Clearstream (or, in each case, equivalent documents setting forth the procedures of
Euroclear and Clearstream) shall be applicable to transfers of beneficial interests in Regulation S
Global Notes that are held by Participants through Euroclear or Clearstream.

Section 2.02 Execution and Authentication.

          Two Officers shall sign the Notes for each Issuer by manual or facsimile signature.

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

          A Note shall not be valid until authenticated by the manual signature (which may be by
facsimile) of the Trustee. The signature shall be conclusive evidence that the Note has been
authenticated under this Indenture.

          At any time and from time to time after the execution and delivery of this Indenture, the
Issuers may deliver Notes executed by the Issuers to the Trustee for authentication; and the
Trustee shall authenticate and deliver Notes upon a written order of the Issuers signed by an Officer of
each of the Issuers (an “Authentication Order”). Such Authentication Order shall specify the
amount of Notes to be authenticated and the date on which the Notes are to be authenticated, and
whether the Notes are to be issued as one or more Global Notes and such other information as the
Issuers may include or the Trustee may reasonably request. The aggregate principal amount of Notes
which may be authenticated and delivered under this Indenture is unlimited.

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

Section 2.03 Registrar and Paying Agent.

          The Issuers shall maintain an office or agency in the Borough of Manhattan, the City of New
York, where Notes may be presented for registration of transfer or for exchange (“Registrar”) and
an office or agency where Notes may be presented for payment (“Paying Agent”). Until otherwise
designated by the Issuers, the Issuers’ office or agency in New York shall be the office of the
Trustee maintained for such purpose. The Registrar shall keep the Register of the Notes and of
their transfer and exchange. The Issuers may appoint one or more co-registrars and one or more
additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying
Agent” includes any additional paying agent. The Issuers may change any Paying Agent or Registrar
without notice to any Holder. The Registrar or Paying Agent may resign at any time upon not less
than 10 Business Days’ prior written notice to the
Issuers. The Issuers shall enter into an appropriate agency agreement with any Agent not a
party to this Indenture, which shall incorporate any applicable terms of the TIA. The Issuers
shall notify the Trustee in writing of the name and address of any Agent not a party to this
Indenture. The Company or any of its Subsidiaries may act as Paying Agent or Registrar.

          The Issuers initially appoint The Depository Trust Company (“DTC”) to act as Depositary with
respect to the Global Notes.

          The Issuers initially appoint the Trustee to act as the Registrar and Paying Agent and to act
as custodian with respect to the Global Notes.

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Section 2.04 Paying Agent to Hold Money in Trust.

          Principal of, premium, if any, and interest on the Notes will be payable at the office of the
Paying Agent or, at the option of the Issuers, payment of interest may be made by check mailed to
Holders at their respective addresses set forth in the Register; provided, all payments of
principal, premium, if any, and interest with respect to the Notes represented by one or more
Global Notes registered in the name or held by the Depositary shall be made by wire transfer of
immediately available funds to accounts specified by the Holder prior to 10:00 a.m., New York time,
on each due date of the principal and interest on any Note. The Issuers shall require each Paying
Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the
benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal,
premium, if any, or interest on the Notes, and shall notify the Trustee of any default by the
Issuers in making any such payment. While any such default continues, the Trustee may require a
Paying Agent to pay all money held by it to the Trustee. The Issuers at any time may require a
Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the
Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for the
money. If the Company or a Subsidiary acts as Paying Agent, it shall segregate and hold in a
separate trust fund for the benefit of Holders all money held by it as Paying Agent. Upon any
bankruptcy or reorganization proceedings relating to the Issuers, the Trustee shall serve as Paying
Agent for the Notes.

Section 2.05 Holder Lists.

          The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of all Holders and shall otherwise comply with TIA
§ 312(a). If the Trustee is not the Registrar, the Issuers shall furnish to the Trustee at least
seven Business Days before each interest payment date and at such other times as the Trustee may
request in writing, a list in such form and as of such date as the Trustee may reasonably require
of the names and addresses of Holders, and the Issuers shall otherwise comply with TIA § 312(a).

Section 2.06 Transfer and Exchange.

     (a) Transfer and Exchange of Global Notes. A Global Note may not be transferred as a whole
except by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the
Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary. All Global Notes shall be
exchanged by the Issuers for Definitive Notes if:

     (i) the Issuers deliver to the Trustee notice from the Depositary that it is unwilling
or unable to continue to act as Depositary or that it is no longer a clearing agency
registered under the Exchange Act and, in either case, a successor Depositary is not
appointed by the Issuers within 120 days after the date of such notice from the Depositary;

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     (ii) the Issuers in their sole discretion determine that the Global Notes (in whole but
not in part) should be exchanged for Definitive Notes and deliver a written notice to such
effect to the Trustee; or

     (iii) there shall have occurred and be continuing a Default or Event of Default with
respect to the Notes.

          Upon the occurrence of any of the preceding events in (i), (ii) or (iii) above, Definitive
Notes shall be issued in such names as the Depositary shall instruct the Trustee. Global Notes
also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10.
Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion
thereof, pursuant to this Section 2.06 or Section 2.07 or 2.10, shall be authenticated and
delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged for
another Note other than as provided in this Section 2.06(a); however, beneficial interests in a
Global Note may be transferred and exchanged as provided in Section 2.06(b), (c) or (f).

     (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and
exchange of beneficial interests in the Global Notes shall be effected through the Depositary, in
accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial
interests in Restricted Global Notes shall be subject to restrictions on transfer comparable to
those set forth herein to the extent required by the Securities Act. Prior to the expiration of
the 40-day distribution compliance period set forth in Regulation S, beneficial interests in any
Regulation S Global Notes may be held only through Euroclear or Clearstream unless transferred in
accordance with Section 2.06(b)(iii)(a). Transfers of beneficial interests in the Global Notes
also shall require compliance with either subparagraph (i) or (ii) below, as applicable, as well as
one or more of the other following subparagraphs, as applicable:

     (i) Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in
any Restricted Global Note may be transferred to Persons who take delivery thereof in the
form of a beneficial interest in the same Restricted Global Note in accordance with the
transfer restrictions set forth in the Private Placement Legend.
Beneficial interests in any Unrestricted Global Note may be transferred to Persons who
take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note.
No written orders or instructions shall be required to be delivered to the Registrar to
effect the transfers described in this Section 2.06(b)(i).

     (ii) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In
connection with all transfers and exchanges of beneficial interests that are not subject to
Section 2.06(b)(i) above, the transferor of such beneficial interest must deliver to the
Registrar either:

     (A) a written order from a Participant or an Indirect Participant given to the
Depositary in accordance with the Applicable Procedures directing the Depositary to
credit or cause to be credited a beneficial interest in another Global Note in an
amount equal to the beneficial interest to be transferred or exchanged; and

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     (B) instructions given in accordance with the Applicable Procedures containing
information regarding the Participant account to be credited with such increase; or

     (C) a written order from a Participant or an Indirect Participant given to the
Depositary in accordance with the Applicable Procedures directing the Depositary to
cause to be issued a Definitive Note in an amount equal to the beneficial interest
to be transferred or exchanged; and

     (D) instructions given by the Depositary to the Registrar containing
information regarding the Person in whose name such Definitive Note shall be
registered to effect the transfer or exchange referred to in (A) above.

     Upon consummation of an Exchange Offer by the Issuers in accordance with Section
2.06(f), the requirements of this Section 2.06(b)(ii) shall be deemed to have been satisfied
upon receipt by the Registrar of the instructions contained in the Letter of Transmittal
delivered by the Holder of such beneficial interests in the Restricted Global Notes. Upon
satisfaction of all of the requirements for transfer or exchange of beneficial interests in
Global Notes contained in this Indenture and the Notes or otherwise applicable under the
Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s)
pursuant to Section 2.06(h).

     (iii) Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial
interest in any Restricted Global Note may be transferred to a Person who takes delivery
thereof in the form of a beneficial interest in another Restricted Global Note if the
transfer complies with the requirements of Section 2.06(b)(ii) above and the Registrar
receives the following:

     (A) if the transferee will take delivery in the form of a beneficial interest
in the Rule 144A Global Note, then the transferor must deliver a certificate in the
form of Exhibit B hereto, including the certifications in item (1) thereof;
and

     (B) if the transferee will take delivery in the form of a beneficial interest
in the Regulation S Global Note, then the transferor must deliver a certificate in
the form of Exhibit B hereto, including the certifications in item (2)
thereof.

     (iv) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for
Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any
Restricted Global Note may be exchanged by any Holder thereof for a beneficial interest in
an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the
form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer
complies with the requirements of Section 2.06(b)(ii) above and:

     (A) such exchange or transfer is effected pursuant to an Exchange Offer in
accordance with a Registration Rights Agreement and the Holder of the beneficial
interest to be transferred, in the case of an exchange, or the transferee,

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in the
case of a transfer, certifies in the applicable Letter of Transmittal that it is not
(1) a broker-dealer, (2) a Person participating in the distribution of the relevant
Exchange Notes or (3) a Person who is an affiliate (as defined in Rule 144) of the
Issuers;

     (B) such transfer is effected pursuant to a Shelf Registration Statement in
accordance with a Registration Rights Agreement;

     (C) such transfer is effected by a broker-dealer pursuant to the Exchange Offer
Registration Statement in accordance with a Registration Rights Agreement; or

     (D) such exchange or transfer is effected after the expiration of the 40-day
distribution compliance period set forth in Regulation S and the Registrar receives
the following:

     (1) if the Holder of such beneficial interest in a Restricted Global Note proposes to
exchange such beneficial interest for a beneficial interest in an Unrestricted Global Note,
a certificate from such Holder in the form of Exhibit C hereto, including the
certifications in item (1)(a) thereof; or

     (2) if the Holder of such beneficial interest in a Restricted Global Note proposes to
transfer such beneficial interest to a Person who shall take delivery thereof in the form of
a beneficial interest in an Unrestricted Global Note, a certificate from such Holder in the
form of Exhibit B hereto, including the certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the
Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the
Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and
that the restrictions on transfer contained herein and in the Private Placement Legend are no
longer required in order to maintain compliance with the Securities Act.

     If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time
when an Unrestricted Global Note has not yet been issued, the Issuers shall issue and, upon
receipt of an Authentication Order in accordance with Section 2.02, the Trustee shall
authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to
the aggregate principal amount of beneficial interests transferred pursuant to subparagraph
(B) or (D) above.

          Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to
Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global
Note.

     (c) Transfer or Exchange of Beneficial Interests for Definitive Notes.

          (i) Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes. If any
Holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial
interest for a Restricted Definitive Note or to transfer such beneficial interest to a

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Person who
takes delivery thereof in the form of a Restricted Definitive Note, then, upon receipt by the
Registrar of the following documentation:

     (A) if the Holder of such beneficial interest in a Restricted Global Note
proposes to exchange such beneficial interest for a Restricted Definitive Note, a
certificate from such Holder in the form of Exhibit C hereto, including the
certifications in item (2)(a) thereof (provided that any such beneficial interest in
Regulation S Global Note shall not be so exchangeable until after the expiration of
the 40-day distribution compliance period set forth in Regulation S);

     (B) if such beneficial interest is being transferred to a QIB in accordance
with Rule 144A under the Securities Act, a certificate to the effect set forth in
Exhibit B hereto, including the certifications in item (1) thereof;

     (C) if such beneficial interest is being transferred to a Non-U.S. Person in an
offshore transaction in accordance with Rule 903 or Rule 904 under the Securities
Act, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (2) thereof;

     (D) if such beneficial interest is being transferred pursuant to an exemption
from the registration requirements of the Securities Act in accordance with Rule 144
under the Securities Act, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (3)(a) thereof;

     (E) if such beneficial interest is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements
of the Securities Act other than those listed in subparagraphs (B) through (D)
above, a certificate to the effect set forth in Exhibit B hereto, including
the certifications, certificates and Opinion of Counsel required by item (3)(d)
thereof, if applicable;

     (F) if such beneficial interest is being transferred to the Issuers or any of
their Subsidiaries, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (3)(b) thereof; or

     (G) if such beneficial interest is being transferred pursuant to an effective
registration statement under the Securities Act, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (3)(c)
thereof,

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced
accordingly pursuant to Section 2.06(h), and the Issuers shall execute and the Trustee shall
authenticate and deliver to the Person designated in the instructions a Definitive Note in the
appropriate principal amount. Any Definitive Note issued in exchange for a beneficial interest in
a Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names
and in such authorized denomination or denominations as the Holder of such beneficial interest
shall instruct the Registrar through instructions from the Depositary and the Participant or
Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose
names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial

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interest in a Restricted Global Note pursuant to this Section 2.06(c)(i) shall bear the Private
Placement Legend and shall be subject to all restrictions on transfer contained therein.

          (ii) Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. A
Holder of a beneficial interest in a Restricted Global Note may exchange such beneficial interest
for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes
delivery thereof in the form of an Unrestricted Definitive Note only if:

     (A) such exchange or transfer is effected pursuant to an Exchange Offer in
accordance with a Registration Rights Agreement and the Holder of such beneficial
interest, in the case of an exchange, or the transferee, in the case of a transfer,
certifies in the applicable Letter of Transmittal that it is not (1) a
broker-dealer, (2) a Person participating in the distribution of the relevant
Exchange Notes or (3) a Person who is an affiliate (as defined in Rule 144) of the
Issuers;

     (B) such transfer is effected pursuant to a Shelf Registration Statement in
accordance with a Registration Rights Agreement;

     (C) such transfer is effected by a broker-dealer pursuant to the Exchange Offer
Registration Statement in accordance with a Registration Rights Agreement; or

     (D) such exchange or transfer is effected after the expiration of the 40-day
distribution compliance period set forth in Regulation S and the Registrar receives
the following:

     (1) if the Holder of such beneficial interest in a Restricted Global Note proposes to
exchange such beneficial interest for a Definitive Note that does not bear the Private
Placement Legend, a certificate from such Holder in the form of Exhibit C hereto,
including the certifications in item (1)(b) thereof; or

     (2) if the Holder of such beneficial interest in a Restricted Global Note proposes to
transfer such beneficial interest to a Person who shall take delivery thereof in the form of
a Definitive Note that does not bear the Private Placement Legend, a certificate from such
Holder in the form of Exhibit B hereto, including the certifications in item (4)
thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the
Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the
Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and
that the restrictions on transfer contained herein and in the Private Placement Legend are no
longer required in order to maintain compliance with the Securities Act.

          (iii) Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. If
any Holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such
beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who
takes delivery thereof in the form of a Definitive Note, then, upon satisfaction of the conditions
set forth in Section 2.06(b)(ii), the Trustee shall cause the aggregate principal

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amount of the
applicable Global Note to be reduced accordingly pursuant to Section 2.06(h), and the Issuers shall
execute and the Trustee shall authenticate and deliver to the Person designated in the instructions
a Definitive Note in the appropriate principal amount. Any Definitive Note issued in exchange for
a beneficial interest pursuant to this Section 2.06(c)(iii) shall be registered in such name or
names and in such authorized denomination or denominations as the Holder of such beneficial
interest shall instruct the Registrar through instructions from the Depositary and the Participant
or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose
names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial
interest pursuant to this Section 2.06(c)(iii) shall not bear the Private Placement Legend.

     (d) Transfer and Exchange of Definitive Notes for Beneficial Interests in Global Notes.

          (i) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If any
Holder of a Restricted Definitive Note proposes to exchange such Note for a beneficial interest in
a Restricted Global Note or to transfer such Restricted Definitive Notes to a Person who takes
delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon
receipt by the Registrar of the following documentation:

     (A) if the Holder of such Restricted Definitive Note proposes to exchange such
Note for a beneficial interest in a Restricted Global Note, a certificate from such
Holder in the form of Exhibit C hereto, including the certifications in item
(2)(b) thereof;

     (B) if such Restricted Definitive Note is being transferred to a QIB in
accordance with Rule 144A under the Securities Act, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (1) thereof;

     (C) if such Restricted Definitive Note is being transferred to a Non- U.S.
Person in an offshore transaction in accordance with Rule 903 or Rule 904 under the
Securities Act, a certificate to the effect set forth in Exhibit B hereto,
including the certifications in item (2) thereof;

     (D) if such Restricted Definitive Note is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance
with Rule 144 under the Securities Act, a certificate to the effect set forth in
Exhibit B hereto, including the certifications in item (3)(a) thereof;

     (E) if such Restricted Definitive Note is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements
of the Securities Act other than those listed in subparagraphs (B) through (D)
above, a certificate to the effect set forth in Exhibit B hereto, including
the certifications, certificates and Opinion of Counsel required by item (3)
thereof, if applicable;

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     (F) if such Restricted Definitive Note is being transferred to the Company or
any of its Subsidiaries, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (3)(b) thereof; or

     (G) if such Restricted Definitive Note is being transferred pursuant to an
effective registration statement under the Securities Act, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item
(3)(c) thereof,

the Trustee shall cancel the Restricted Definitive Note, increase or cause to be increased the
aggregate principal amount of, in the case of clause (A) above, the appropriate Restricted Global
Note, in the case of clause (B) above, the Rule 144A Global Note or, in the case of clause (C)
above, the Regulation S Global Note.

          (ii) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A
Holder of a Restricted Definitive Note may exchange such Note for a beneficial interest in an
Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery
thereof in the form of a beneficial interest in an Unrestricted Global Note only if:

     (A) such exchange or transfer is effected pursuant to an Exchange Offer in
accordance with a Registration Rights Agreement and the Holder, in the case of an
exchange, or the transferee, in the case of a transfer, certifies in the applicable
Letter of Transmittal that it is not (1) a broker-dealer, (2) a Person participating
in the distribution of the relevant Exchange Notes or (3) a Person who is an
affiliate (as defined in Rule 144) of the Issuers;

     (B) such transfer is effected pursuant to a Shelf Registration Statement in
accordance with a Registration Rights Agreement;

     (C) such transfer is effected by a broker-dealer pursuant to the Exchange Offer
Registration Statement in accordance with a Registration Rights Agreement; or

     (D) such exchange or transfer is effected after the expiration of the 40-day
distribution compliance period set forth in Regulation S and the Registrar receives
the following:

     (1) if the Holder of such Definitive Notes proposes to exchange such Notes for a
beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the
form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or

     (2) if the Holder of such Definitive Notes proposes to transfer such Notes to a Person
who shall take delivery thereof in the form of a beneficial interest in the Unrestricted
Global Note, a certificate from such Holder in the form of Exhibit B hereto,
including the certifications in item (4) thereof;

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and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the
Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the
Registrar to the effect that such exchange or transfer is in compliance with the Securities Act
and that the restrictions on transfer contained herein and in the Private Placement Legend are no
longer required in order to maintain compliance with the Securities Act.

Upon satisfaction of the conditions of any of the subparagraphs in this Section 2.06(d)(ii), the
Trustee shall cancel the Definitive Notes and increase or cause to be increased the aggregate
principal amount of the Unrestricted Global Note.

          (iii) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A
Holder of an Unrestricted Definitive Note may exchange such Note for a beneficial interest in an
Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof
in the form of a beneficial interest in an Unrestricted Global Note at any time. Upon receipt of a
request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted
Definitive Note and increase or cause to be increased the aggregate principal amount of one of the
Unrestricted Global Notes.

          If any such exchange or transfer from a Definitive Note to a beneficial interest is effected
pursuant to subparagraph (ii)(B), (ii)(D) or (iii) above at a time when an Unrestricted Global Note
has not yet been issued, the Issuers shall issue and, upon receipt of an Authentication Order in
accordance with Section 2.02, the Trustee shall authenticate one or more Unrestricted Global Notes
in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred.

    (e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder
of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.06(e), the
Registrar shall register the transfer or exchange of Definitive Notes. Prior to such registration
of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the
Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form
satisfactory to the Registrar duly executed by such Holder or by its attorney, duly
authorized in writing. In addition, the requesting Holder shall provide any additional
certifications, documents and information, as applicable, required pursuant to the following
provisions of this Section 2.06(e):

     (i) Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted
Definitive Note may be transferred to and registered in the name of Persons who take
delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the
following:

     (A) if the transfer will be made pursuant to Rule 144A under the Securities
Act, then the transferor must deliver a certificate in the form of Exhibit B
hereto, including the certifications in item (1) thereof;

     (B) if the transfer will be made pursuant to Rule 903 or Rule 904, then the
transferor must deliver a certificate in the form of Exhibit B hereto,
including the certifications in item (2) thereof; and

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     (C) if the transfer will be made pursuant to any other exemption from the
registration requirements of the Securities Act, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the certifications,
certificates and Opinion of Counsel required by item (3) thereof, if applicable.

     (ii) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted
Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note
or transferred to a Person or Persons who take delivery thereof in the form of an
Unrestricted Definitive Note if:

     (A) such exchange or transfer is effected pursuant to an Exchange Offer in
accordance with a Registration Rights Agreement and the Holder, in the case of an
exchange, or the transferee, in the case of a transfer, certifies in the applicable
Letter of Transmittal that it is not (1) a broker-dealer, (2) a Person participating
in the distribution of the relevant Exchange Notes or (3) a Person who is an
affiliate (as defined in Rule 144) of the Issuers;

     (B) any such transfer is effected pursuant to a Shelf Registration Statement in
accordance with a Registration Rights Agreement;

     (C) any such transfer is effected by a broker-dealer pursuant to an Exchange
Offer Registration Statement in accordance with a Registration Rights Agreement; or

     (D) such exchange or transfer is effected after the expiration of the 40-day
distribution compliance period set forth in Regulation S and the Registrar receives
the following:

     (1) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes
for an Unrestricted Definitive Note, a certificate from such Holder in the form of
Exhibit C hereto, including the certifications in item (1)(d) thereof; or

     (2) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes
to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note,
a certificate from such Holder in the form of Exhibit B hereto, including the
certifications in item (4) thereof;

     and, in each such case set forth in this subparagraph (D), if the Registrar so
requests, an Opinion of Counsel in form reasonably acceptable to the Issuers to the effect
that such exchange or transfer is in compliance with the Securities Act and that the
restrictions on transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act.

     (iii) Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of
Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof
in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such
a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the
instructions from the Holder thereof.

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     (f) Exchange Offer. Upon the occurrence of an Exchange Offer in accordance with a
Registration Rights Agreement, the Issuers shall issue and, upon receipt of an Authentication Order
in accordance with Section 2.02, the Trustee shall authenticate (i) one or more Unrestricted Global
Notes in an aggregate principal amount equal to the principal amount of the beneficial interests in
the Restricted Global Notes tendered for acceptance by Persons that certify in the applicable
Letters of Transmittal that (x) they are not broker-dealers, (y) they are not participating in a
distribution of the relevant Exchange Notes and (z) they are not affiliates (as defined in Rule
144) of the Issuers, and accepted for exchange in the relevant Exchange Offer and (ii) Definitive
Notes in an aggregate principal amount equal to the principal amount of the Restricted Definitive
Notes accepted for exchange in the relevant Exchange Offer. Concurrently with the issuance of such
Notes, the Trustee shall cause the aggregate principal amount of the applicable Restricted Global
Notes to be reduced accordingly, and the Issuers shall execute and the Trustee shall authenticate
and deliver to the Persons designated by the Holders of Definitive Notes so accepted Definitive
Notes in the appropriate principal amount.

     (g) Legends. The following legends shall appear on the face of all Global Notes and
Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable
provisions of this Indenture:

          (i) Private Placement Legend.

     (A) Except as permitted by subparagraph (B) below, each Restricted Global Note
and each Definitive Note (and all Notes issued in exchange therefor or substitution
thereof) shall bear the legend in substantially the following form:

THE NOTE (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A
TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE NOTE EVIDENCED HEREBY MAY
NOT BE OFFERED, SOLD
OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE
EXEMPTION THEREFROM. EACH PURCHASER OF THE NOTES EVIDENCED HEREBY IS HEREBY NOTIFIED
THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF
THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE NOTES
EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUERS THAT (A) SUCH SECURITY MAY BE
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) (A) TO A PERSON WHO IS A QUALIFIED
INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (B) IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES TO
A NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 UNDER THE
SECURITIES ACT, OR (D) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE

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SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE
ISSUERS SO REQUEST), (II) TO THE ISSUERS, OR (III) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT AND, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO,
NOTIFY ANY PURCHASER FROM IT OF THE NOTES EVIDENCED HEREBY OF THE RESALE
RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE
AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE NOTE EVIDENCED
HEREBY.

     (B) Notwithstanding the foregoing, any Initial Note and any Global Note or
Definitive Note issued pursuant to subparagraph (b)(iv), (c)(ii), (c)(iii), (d)(ii),
(d)(iii), (e)(ii), (e)(iii) or (f) of this Section 2.06 (and all Notes issued in
exchange therefor or substitution thereof) shall not bear the Private Placement
Legend.

     (ii) Global Note Legend. Each Global Note shall bear a legend in substantially the
following form:

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS
HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT
(1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT
NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY
BE
DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE
AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR
WRITTEN CONSENT OF THE ISSUERS. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN
PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A
WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK)
(“DTC”), TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH
OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED

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REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

     (iii) Regulation S Legend. Each Regulation S Global Note should bear a legend in
substantially the following form:

THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY
EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE
ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE
SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S
UNDER THE SECURITIES ACT.

     (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests
in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note
has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be
returned to or retained and canceled by the Trustee in accordance with Section 2.11. At any time
prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or
transferred to a Person who will take delivery thereof in the form of a beneficial interest in
another Global Note or for Definitive Notes, the principal amount of Notes represented by such
Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by
the Trustee or by the Depositary at the direction of the Trustee to reflect
such reduction; and if the beneficial interest is being exchanged for or transferred to a
Person who will take delivery thereof in the form of a beneficial interest in another Global Note,
such other Global Note shall be increased accordingly and an endorsement shall be made on such
Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such
increase.

     (i) General Provisions Relating to Transfers and Exchanges.

          (i) To permit registrations of transfers and exchanges, the Issuers shall execute and the
Trustee shall authenticate Global Notes and Definitive Notes upon the Issuers’ order or at the
Registrar’s request.

          (ii) No service charge shall be made to a Holder of a beneficial interest in a Global Note or
to a Holder of a Definitive Note for any registration of transfer or exchange, but the Issuers may
require payment of a sum sufficient to cover any transfer tax or similar governmental charge
payable in connection therewith (other than any such transfer taxes or

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similar governmental charge
payable upon exchange or transfer pursuant to Sections 2.10 and 9.05).

          (iii) The Registrar shall not be required to register the transfer of or exchange any Note
selected for redemption in whole or in part, except the unredeemed portion of any Note being
redeemed in part.

          (iv) All Global Notes and Definitive Notes issued upon any registration of transfer or
exchange of Global Notes or Definitive Notes shall be the valid obligations of the Issuers,
evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global
Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

          (v) The Issuers shall not be required to register the transfer of or to exchange a Note
between a record date and the next succeeding interest payment date.

          (vi) Prior to due presentment for the registration of a transfer of any Note, the Trustee, any
Agent and the Issuers may deem and treat the Person in whose name any Note is registered as the
absolute owner of such Note for the purpose of receiving payment of principal of and interest on
such Notes and for all other purposes, and none of the Trustee, any Agent or the Issuers shall be
affected by notice to the contrary.

          (vii) The Trustee shall authenticate Global Notes and Definitive Notes in accordance with the
provisions of Section 2.02.

          (viii) All certifications, certificates and Opinions of Counsel required to be submitted to
the Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be
submitted by facsimile.

          (ix) Each Holder of a Security agrees to indemnify the Issuers and the Trustee against any
liability that may result from the transfer, exchange or assignment of such Holder’s Security in
violation of any provision of this Indenture and/or applicable United States Federal or state
securities law.

          (x) The Trustee shall have no obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law
with respect to any transfer of any interest in any Security (including any transfers between or
among Depositary Participants or beneficial owners of interests in
any Global Security) other than to
require delivery of such certificates and other documentation or evidence as are expressly required
by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the
same to determine substantial compliance as to form with the express requirements hereof.

          (xi) Neither the Trustee nor any Agent shall have any responsibility for any actions taken or
not taken by the Depositary.

          (xii) Notwithstanding anything contained herein, any transfers, replacements or exchanges of
Notes, including as contemplated in this Article 2, shall not be deemed to be an incurrence of
Indebtedness.

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Section 2.07 Replacement Notes.

          If any mutilated Note is surrendered to the Trustee or the Issuers and the Trustee receives
evidence to its satisfaction of the destruction, loss or theft of any Note, the Issuers shall issue
and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if
the Trustee’s requirements are met. If required by the Trustee or the Issuers, an indemnity bond
must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Issuers to
protect the Issuers, the Trustee, any Agent and any authenticating agent from any loss that any of
them may suffer if a Note is replaced. The Issuers may charge for their expenses in replacing a
Note.

          Every replacement Note is an additional legally binding obligation of the Issuers and shall be
entitled to all of the benefits of this Indenture equally and proportionately with all other Notes
duly issued hereunder.

Section 2.08 Outstanding Notes.

          The Notes outstanding at any time are all the Notes authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation, those reductions in the interest in a
Global Note effected by the Trustee in accordance with the provisions of this Indenture, and those
described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09, a Note
does not cease to be outstanding because the Company or an Affiliate of the Company holds the Note.

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

          If the principal amount of any Note is considered paid under Section 4.01, it ceases to be
outstanding and interest on it ceases to accrue.

          If the Paying Agent (other than an Issuer, a Subsidiary or an Affiliate of any thereof) holds,
on a redemption date or maturity date, money sufficient to pay Notes payable on that date, then on
and after that date such Notes shall be deemed to be no longer outstanding and shall cease to
accrue interest.

Section 2.09 Treasury Notes.

          In determining whether the Holders of the required principal amount of Notes have concurred in
any direction, waiver or consent, Notes owned by an Issuer, or by any Person directly or indirectly
controlled by or under direct or indirect common control with an Issuer or, if the TIA is
applicable to this Indenture, to the extent required by the TIA, any person controlling an Issuer,
shall be considered as though not outstanding, except that for the purposes of determining whether
the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes that
a Responsible Officer of the Trustee knows are so owned shall be so disregarded.

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Section 2.10 Temporary Notes.

          Until certificates representing Notes are ready for delivery, the Issuers may prepare and the
Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes. Temporary
Notes shall be substantially in the form of certificated Notes but may have variations that the
Issuers considers appropriate for temporary Notes and as shall be reasonably acceptable to the
Trustee. Without unreasonable delay, the Issuers shall prepare and the Trustee shall authenticate
Definitive Notes in exchange for temporary Notes.

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

Section 2.11 Cancellation.

          The Issuers at any time may deliver Notes to the Trustee for cancellation. The Registrar and
Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee and no one else shall cancel all Notes surrendered for
registration of transfer, exchange, payment, replacement or cancellation and shall dispose of such
canceled Notes in its customary manner. The Issuers may not issue new Notes to replace Notes that
they have paid or that have been delivered to the Trustee for cancellation.

Section 2.12 Defaulted Interest.

          If the Issuers default in a payment of interest on the Notes, they shall pay the defaulted
interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted
interest, which interest on defaulted interest shall accrue until the defaulted interest is deemed
paid hereunder, to the Persons who are Holders on a subsequent special record date, in each case at
the rate provided in the Notes and in Section 4.01. The Issuers shall notify the Trustee in
writing of the amount of defaulted interest proposed to be paid on each Note and the date of the
proposed payment. The Issuers shall fix or cause to be fixed each such special record date and
payment date; provided that no such special record date shall be less than 10 days prior to the
related payment date for such defaulted interest. At least 15 days before the special record date,
the Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the
expense of the Issuers) shall mail or cause to be mailed to Holders a notice that states the
special record date, the related payment date and the amount of such interest to be paid.

Section 2.13 CUSIP Numbers.

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

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ARTICLE 3

REDEMPTION AND PREPAYMENT

Section 3.01 Redemption and Prepayment

          The redemption and prepayment terms with respect to any series of Notes will be set forth in
one or more supplemental indentures governing such series of Notes.

ARTICLE 4

COVENANTS

Section 4.01 Payment of Notes.

          The Issuers shall pay or cause to be paid the principal, premium, if any, and interest on the
Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and
interest shall be considered paid on the date due if the Paying Agent, if other than the Issuers or
a Subsidiary thereof, holds as of 10:00 a.m. New York City time on the due date money deposited by
the Issuers in immediately available funds and designated for and sufficient to pay all principal,
premium, if any, and interest then due. The Issuers shall pay all Special Interest, if any, in the
same manner on the dates and in the amounts set forth in any Registration Rights Agreement.

          The Issuers shall pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal at the rate equal to 2.00% per annum in excess of the then
applicable interest rate on the Notes to the extent lawful; they shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest (without regard to any applicable grace period) at the same rate to the extent lawful.

Section 4.02 Maintenance of Office or Agency.

          The Issuers shall maintain in the Borough of Manhattan, The City of New York, an office or
agency (which may be an office of the Trustee or an affiliate of the Trustee, Registrar or
co-registrar) where Notes may be surrendered for registration of transfer or for exchange and where
notices and demands to or upon the Issuers in respect of the Notes and this Indenture may be
served. The Issuers shall give prompt written notice to the Trustee of the location, and any
change in the location, of such office or agency. If at any time the Issuers 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.

          The Issuers may also from time to time designate one or more other offices or agencies where
the Notes 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 Issuers of their obligation to maintain an office or agency in the Borough of
Manhattan, The City of New York for such purposes. The Issuers

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shall give prompt written notice to the Trustee of any such designation or rescission and of
any change in the location of any such other office or agency.

          The Issuers hereby designate The Bank of New York Mellon, at 101 Barclay Street, Floor 8W, New
York, New York 10286, as one such office or agency of the Issuers in accordance with Section 2.03.

ARTICLE 5

SUCCESSORS

Section 5.01 Merger, Consolidation or Sale of Assets.

          Neither Issuer may, directly or indirectly: (1) consolidate or merge with or into another
Person or (2) sell, assign, transfer, convey or otherwise dispose of all or substantially all of
its properties or assets, in one or more related transactions, to another Person; unless:

     (A) either:

     (i) such Issuer is the surviving Person; or

     (ii) the Person formed by or surviving any such consolidation or merger (if other than
such Issuer) or to which such sale, assignment, transfer, conveyance or other disposition
shall have been made is a Person organized or existing under the laws of the United States,
any state thereof or the District of Columbia, provided that if the Person formed by or
surviving any such consolidation or merger with such Issuer is a limited liability company
or a Person other than a corporation, a corporate co-issuer shall also be an obligor with
respect to the Notes;

     (B) the Person formed by or surviving any such consolidation or merger (if other than
such Issuer) or the Person to which such sale, assignment, transfer, conveyance or other
disposition shall have been made assumes all the obligations of such Issuer under the Notes
and this Indenture pursuant to agreements reasonably satisfactory to the Trustee; and

     (C) immediately after such transaction no Default or Event of Default exists.

          In addition, the Company may not, directly or indirectly, lease all or substantially all of
its properties or assets, in one or more related transactions, to any other Person. The foregoing
clause (D) of this Section 5.01 shall not apply to a sale, assignment, transfer, conveyance or
other disposition of assets between or among the Company and any of its Wholly Owned Restricted
Subsidiaries.

Section 5.02 Successor Person Substituted.

          Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or
other disposition of all or substantially all of the assets of either Issuer in accordance with
Section 5.01, the successor Person formed by such consolidation or into which

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either Issuer is merged or to which such transfer is made shall succeed to and (except in the
case of a lease) be substituted for, and may exercise every right and power of, such Issuer under
this Indenture with the same effect as if such successor Person had been named therein as such
Issuer, and (except in the case of a lease) such Issuer shall be released from the obligations
under the Notes and this Indenture, except with respect to any obligations that arise from, or are
related to, such transaction.

ARTICLE 6

DEFAULTS AND REMEDIES

Section 6.01 Events of Default.

          Except where otherwise indicated by the context or where the term is otherwise defined for a
specific purpose, the term “Event of Default” as used in this Indenture with respect to Notes of
any series shall mean one of the following described events unless it is either inapplicable to a
particular series or it is specifically deleted or modified in a supplemental indenture:

     (1) default
for 30 consecutive days in the payment when due of interest on the Notes of
such series;

     (2) default in payment when due of the principal of or premium, if any, on the Notes of
such series;

     (3) failure by the Company or any of its Restricted Subsidiaries for 30 consecutive
days after written notice thereof has been given to the Issuers by the Trustee or to the
Issuers and the Trustee by Holders of at least 25% of the aggregate principal amount of the
Notes of such series outstanding to comply with any of their other covenants or agreements
in this Indenture;

     (4) default under any mortgage, indenture or instrument under which there may be issued
or by which there may be secured or evidenced any Indebtedness for money borrowed by the
Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the
Company or any of its Subsidiaries) whether such Indebtedness or guarantee now exists or is
created after the date such Notes are first issued, if that default:

     (a) is caused by a failure to pay at final stated maturity the principal amount on such
Indebtedness prior to the expiration of the grace period provided in such Indebtedness on
the date of such default (a “Payment Default”) or

     (b) results in the acceleration of such Indebtedness prior to its express maturity,

and, in each case, the principal amount of any such Indebtedness, together with the
principal amount of any other such Indebtedness under which there has been a Payment Default
or the maturity of which has been so accelerated, aggregates $100.0 million or more;

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     (5) failure by the Company or any of its Restricted Subsidiaries to pay final judgments
which are non-appealable aggregating in excess of $100.0 million, net of applicable
insurance which has not been denied in writing by the insurer, which judgments are not paid,
discharged or stayed for a period of 60 days;

     (6) the Company or any of its Significant Subsidiaries pursuant to or within the
meaning of Bankruptcy Law:

     (a) commences a voluntary case,

     (b) consents to the entry of an order for relief against it in an involuntary case,

     (c) consents to the appointment of a custodian of it or for all or substantially all of
its property, or

     (d) makes a general assignment for the benefit of its creditors; or

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

     (a) is for relief against the Company or any of its Significant Subsidiaries in an
involuntary case;

     (b) appoints a custodian of the Company or any of its Significant Subsidiaries or for
all or substantially all of the property of the Company or any of its Significant
Subsidiaries; or

     (c) orders the liquidation of the Company or any of its Significant Subsidiaries;

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

Section 6.02 Acceleration.

          In
the case of an Event of Default arising from clause (6) or (7) of Section 6.01 with respect
to the Company, all outstanding Notes shall become due and payable immediately without further
action or notice. If any other Event of Default with respect to the Notes of any series occurs and
is continuing, the Trustee by notice to the Issuers or the Holders of at least 25% in principal
amount of the then outstanding Notes of any series by notice to the Issuers and the Trustee may
declare the Notes of such series to be due and payable immediately. The Holders of a majority in
aggregate principal amount of the Notes of any series then outstanding by written notice to the
Trustee may on behalf of all of the Holders of such series rescind an acceleration and its
consequences with respect to such series of Notes if the rescission would not conflict with any
judgment or decree and if all existing Events of Default (except non-payment of principal, interest
or premium that has become due solely because of the acceleration) have been cured or waived.

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Section 6.03 Other Remedies.

          If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy
to collect the payment of principal, premium, if any, and interest on the Notes or to enforce the
performance of any provision of the Notes or this Indenture.

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

Section 6.04 Waiver of Existing Defaults.

          Holders of not less than a majority in aggregate principal amount of the then outstanding
Notes of any series by notice to the Trustee may on behalf of the Holders of all of the Notes of
such series waive any existing Default or Event of Default and its consequences hereunder, except a
continuing Default or Event of Default in the payment of the principal of, premium, if any, or
interest on, the Notes of such series (including in connection with an offer to purchase)
(provided, however, that the Holders of a majority in aggregate principal amount of the then
outstanding Notes of such series may rescind an acceleration and its consequences, including any
related payment default that resulted from such acceleration). Upon any such waiver, such Default
shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured
for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other
Default or impair any right consequent thereon.

Section 6.05 Control by Majority.

          Holders of a majority in principal amount of the then outstanding Notes of any series may
direct the time, method and place of conducting any proceeding for exercising any remedy available
to the Trustee or exercising any trust or power conferred on it, in each case with respect to such
series. However, the Trustee may refuse to follow any direction that conflicts with law or this
Indenture that the Trustee determines may be prejudicial to the rights of other Holders or that may
involve the Trustee in personal liability. The Trustee may take any other action which it deems
proper that is not inconsistent with any such directive.

Section 6.06 Limitation on Suits.

          A Holder may pursue a remedy with respect to this Indenture or the Notes only if:

     (a) the Holder gives to the Trustee written notice of a continuing Event of Default
with respect to the series of Notes held by such Holder;

     (b) the Holders of at least 25% in principal amount of the then outstanding Notes of a
series make a written request to the Trustee to pursue the remedy;

     (c) such Holder or Holders of Notes offer and, if requested, provide to the Trustee
indemnity satisfactory to the Trustee against any loss, liability or expense;

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     (d) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer and, if requested, the provision of indemnity; and

     (e) during such 60-day period the Holders of a majority in principal amount of the then
outstanding Notes of such series  do not give the Trustee a direction inconsistent with the request.

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

Section 6.07 Rights of Holders of Notes to Receive Payment.

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

Section 6.08 Collection Suit by Trustee.

          If an Event of Default specified in Section 6.01(1) or (2) occurs and is continuing, the
Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Issuers for the whole amount of principal of, premium, if any, and interest remaining
unpaid on the Notes and interest on overdue principal and, to the extent lawful, interest and such
further amount as shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel.

Section 6.09 Trustee May File Proofs of Claim.

          The Trustee is authorized to file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and Holders allowed in any judicial proceedings relative to the Issuers (or any other
obligor upon the Notes), their creditors or their property and shall be entitled and empowered to
collect, receive and distribute any money or other property payable or deliverable on any such
claims and any custodian in any such judicial 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 Holders, to pay to the Trustee any amount due to 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 7.07. To the extent that the payment of any such
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due the Trustee under Section 7.07 out of the estate in any such proceeding, shall be
denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of,
any and all distributions, dividends, money, securities and other properties that the Holders may
be entitled to receive in such proceeding whether in liquidation or under any plan of
reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize
the Trustee to authorize or

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consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the
Trustee to vote in respect of the claim of any Holder in any such proceeding.

Section 6.10 Priorities.

          If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in
the following order:

     First: to the Trustee, its agents and attorneys for amounts due under Section
7.07, including payment of all compensation, expense and liabilities incurred, and all
advances made, by the Trustee and the costs and expenses of collection;

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

     Third: to the Issuers or to such party as a court of competent jurisdiction
shall direct.

          The Trustee may fix a record date and payment date for any payment to Holders pursuant to this
Section 6.10.

Section 6.11 Undertaking for Costs.

          In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees and expenses, against any party litigant in the suit, having due regard to the merits and good
faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a
suit by the Trustee, a suit by a Holder pursuant to Section 6.07, or a suit by Holders of more than
10% in principal amount of the then outstanding Notes of any series.

ARTICLE 7

TRUSTEE

Section 7.01 Duties of Trustee.

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

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          (2) Except during the continuance of an Event of Default with respect to any series of Notes:

     (a) the duties of the Trustee, with respect to the Notes of any series, shall be
determined solely by the express provisions of this Indenture and the Trustee need perform
only those duties that are specifically set forth in this Indenture and no others, and no
implied covenants or obligations shall be read into this Indenture against the Trustee; and

     (b) 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 required to be furnished to the Trustee hereunder and conforming to
the requirements of this Indenture. However, in the case of certificates or opinions
specifically required by any provision hereof to be furnished to it, the Trustee shall
examine such certificates and opinions to determine whether or not they conform to the
requirements of this Indenture (but need not confirm or investigate the accuracy of any
mathematical calculations or other facts stated therein).

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

     (a) this paragraph (3) does not limit the effect of paragraph (2) of this Section 7.01;

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

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

          (4) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (1), (2), and (3) of this Section 7.01.

          (5) No provision of this Indenture shall require the Trustee to expend or risk its own funds
or incur any liability. The Trustee shall be under no obligation to exercise any of its rights and
powers under this Indenture at the request of any Holders, unless such Holder shall have offered to
the Trustee security and indemnity satisfactory to it against any loss, liability, claim, damage or
expense.

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

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          (7) 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 or other paper or documents.

Section 7.02 Rights of Trustee.

          (1) The Trustee may conclusively rely and shall be protected in acting or refraining from
acting upon any document (whether in its original or facsimile form) believed by it to be genuine
and to have been signed or presented by the proper Person. The Trustee need not investigate any
fact or matter stated in the document.

          (2) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits
to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. The Trustee
may consult with counsel of its own selection and the written advice or opinion of such counsel or
any Opinion of Counsel shall be full and complete authorization and protection from liability in
respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance
thereon.

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

          (4) The Trustee shall not be liable for any action it takes or omits to take in good faith
that it believes to be authorized or within the rights or powers conferred upon it by this
Indenture.

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

          (6) 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 Holder unless such Holder shall have
offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and
liabilities that might be incurred by it in compliance with such request or direction.

          (7) The Trustee shall not be charged with knowledge of any Default or Event of Default unless
either (a) a Responsible Officer of the Trustee shall have actual knowledge of such Default or
Event of Default or (b) written notice of such Default or Event of Default shall have been given to
and received at the Corporate Trust Office of the Trustee by the Issuers or any Holder and such
notice references the Notes and this Indenture.

          (8) 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 be entitled to examine the books, records and

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premises of the Issuers, personally or by agent or attorney at the sole cost of the Issuers
and shall incur no liability or additional liability of any kind by reason of such inquiry or
investigation.

          (9) In no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action.

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

          (11) The Trustee may request that the Issuers deliver certificates setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to
this Indenture.

Section 7.03 Individual Rights of Trustee.

          The Trustee in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Issuers or any Affiliate of the Issuers with the same rights it
would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting
interest, it must eliminate such conflict within 90 days and apply to the SEC for permission to
continue as trustee or resign. Any Agent may do the same with like rights and duties. The Trustee
is also subject to Sections 7.10 and 7.11.

Section 7.04 Trustee’s Disclaimer.

          The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture or the Notes, it shall not be accountable for the Issuers’ use of the
proceeds from the Notes or any money paid to the Issuers or upon the Issuers’ direction under any
provision of this Indenture, it shall not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it shall not be responsible for any
statement or recital herein or any statement in the Notes or any other document in connection with
the sale of the Notes or pursuant to this Indenture other than its certificate of authentication.

Section 7.05 Notice of Defaults.

          If a Default or Event of Default occurs and is continuing and if it is known to a Responsible
Officer of the Trustee, the Trustee shall mail to Holders a notice of the Default or Event of
Default within 90 days after the Trustee acquires knowledge thereof. Except in the case of a
Default or Event of Default in payment of principal of, premium, if any, or interest on any Note,
the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in
good faith determines that withholding the notice is in the interests of Holders.

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Section 7.06 Reports by Trustee to Holders.

          By March 15th of each year, and for so long as any Notes remain outstanding, the Trustee shall
mail to Holders a brief report dated as of such reporting date that complies with TIA § 313(a) (but
if no event described in TIA § 313(a) has occurred within the twelve months preceding the reporting
date, no report need be transmitted). The Trustee also shall comply with TIA § 313(b)(2). The
Trustee shall also transmit by mail all reports as required by TIA § 313(c).

          A copy of each report at the time of its mailing to Holders shall be mailed to the Company and
filed with the SEC and each stock exchange on which the Notes are listed in accordance with TIA §
313(d). The Issuers shall promptly notify the Trustee when the Notes are listed or delisted on any
stock exchange.

Section 7.07 Compensation and Indemnity.

          The Issuers shall pay to the Trustee from time to time compensation as agreed upon in writing
for its acceptance of this Indenture and services hereunder. The Trustee’s compensation shall not
be limited by any law on compensation of a trustee of an express trust. The Issuers shall
reimburse the Trustee promptly upon request for all disbursements, advances and expenses incurred
or made by it in addition to the compensation for its services. Such expenses shall include the
reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel.

          The Issuers and the Parent Guarantor shall, jointly and severally, indemnify the Trustee and
any predecessor trustee against any and all losses, liabilities, claims, damages or expenses
(including reasonable legal fees and expenses) including taxes (other than taxes based upon,
measured by or determined by the income of the Trustee) incurred by it arising out of or in
connection with the acceptance or administration of its duties under this Indenture, including the
costs and expenses of enforcing this Indenture against the Issuers (including this Section 7.07)
and defending itself against any claim (whether asserted by the Issuers or any Holder or any other
person) or liability in connection with the exercise or performance of any of its powers or duties
hereunder, except to the extent any such loss, damage, claim, liability or expense determined to
have been caused by its own gross negligence or willful misconduct. The Trustee shall notify the
Issuers promptly of any claim for which it may seek indemnity of which a Responsible Officer has
received written notice. Failure by the Trustee to so notify the Issuers shall not relieve the
Issuers of their obligations hereunder. The Issuers shall defend the claim and the Trustee shall
cooperate in the defense. The Trustee may have separate counsel and the Issuers shall pay the
reasonable fees and expenses of such counsel. The Issuers need not pay for any settlement made
without their consent, which consent shall not be unreasonably withheld.

          The obligations of the Issuers in this Section 7.07 shall survive resignation or removal of
the Trustee and the satisfaction, discharge or termination of this Indenture.

          To secure the Issuers’ payment obligations in this Section 7.07, the Trustee shall have a Lien
prior to the Notes on all money or property held or collected by the Trustee, except such money or
property held in trust by the Trustee to pay the principal of and interest on any

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Notes. Such Lien shall survive the resignation or removal of the Trustee and the satisfaction
and discharge of this Indenture.

          When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.01(7) or (8) occurs, the expenses and the compensation for the services (including the
fees and expenses of its agents and counsel) are intended to constitute expenses of administration
under any Bankruptcy Law.

          The Trustee shall comply with the provisions of TIA § 313(b)(2) to the extent applicable.

Section 7.08 Replacement of the Trustee.

          A resignation or removal of the Trustee and appointment of a successor Trustee shall become
effective only upon the successor Trustee’s acceptance of appointment as provided in this Section
7.08.

          The Trustee may resign in writing at any time and be discharged from the trust hereby created
by so notifying the Issuers. The Holders of a majority in principal amount of the then outstanding
Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing. The Issuers
may remove the Trustee if:

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

     (b) the Trustee is adjudged as bankrupt or as insolvent or an order for relief is
entered with respect to the Trustee under any Bankruptcy Law;

     (c) a custodian or public officer takes charge of the Trustee or its property; or

     (d) the Trustee becomes incapable of acting.

          If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any
reason, the Issuers shall promptly appoint a successor Trustee. Within one year after the
successor Trustee takes office, the Holders of a majority in principal amount of the then
outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Issuers.

          If a successor Trustee does not take office within 60 days after the retiring Trustee resigns
or is removed, the retiring Trustee, the Issuers or the Holders of at least 10% in principal amount
of the then outstanding Notes may petition at the expense of the Issuers any court of competent
jurisdiction for the appointment of a successor Trustee.

          If the Trustee, after written request by any Holder who has been a Holder for at least six
months, fails to comply with Section 7.10, such Holder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

          A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Issuers. Thereupon, the resignation or removal of the retiring Trustee

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shall become effective, and the successor Trustee shall have all the rights, powers and duties
of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession
to Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the
successor Trustee; provided all sums owing to the Trustee hereunder have been paid and subject to
the Lien provided for in Section 7.07. Notwithstanding replacement of the Trustee pursuant to this
Section 7.08, the Issuers’ obligations under Section 7.07 shall continue for the benefit of the
retiring Trustee.

Section 7.09 Successor Trustee by Merger, etc.

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

Section 7.10 Eligibility; Disqualification.

          There shall at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate trustee power, that is subject to supervision or examination
by federal or state authorities and that has a combined capital and surplus of at least $100.0
million as set forth in its most recent published annual report of condition.

          This Indenture shall always have a Trustee who satisfies the requirements of TIA §§ 310(a)(1),
(2) and (5). The Trustee is subject to TIA § 310(b).

Section 7.11 Preferential Collection of Claims Against the Issuers.

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

ARTICLE 8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance.

          The Issuers may, at the option of their respective boards of directors or the Board of
Directors of CCI evidenced by a resolution set forth in an Officers’ Certificate of each of the
Issuers, at any time, elect to have either Section 8.02 or 8.03 applied to all outstanding Notes of
any series upon compliance with the conditions set forth below in this Article 8.

Section 8.02 Legal Defeasance and Discharge.

          Upon the Issuers’ exercise under Section 8.01 of the option applicable to this Section 8.02,
the Issuers shall, subject to the satisfaction of the conditions set forth in Section 8.04, be
deemed to have been discharged from their obligations with respect to all outstanding Notes of such
series on the date the conditions set forth below are satisfied (hereinafter, “Legal

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Defeasance”). For this purpose, Legal Defeasance means that the Issuers shall be deemed to
have paid and discharged the entire Indebtedness represented by the outstanding Notes of such
series, which shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.05
and the other Sections of this Indenture referred to in (a) and (b) below, and to have satisfied
all their other obligations under such Notes and this Indenture (and the Trustee, on demand of and
at the expense of the Issuers, shall execute proper instruments acknowledging the same), except for
the following provisions which shall survive until otherwise terminated or discharged hereunder:

     (a) the rights of Holders of outstanding Notes of such series to receive payments in
respect of the principal of, premium, if any, and interest on such Notes when such payments
are due from the trust referred to below;

     (b) the Issuers’ obligations with respect to the Notes of such series concerning
issuing temporary Notes, mutilated, destroyed, lost or stolen Notes and the maintenance of
an office or agency for payment and money for security payments held in trust;

     (c) the rights, powers, trusts, duties and immunities of the Trustee and the Issuers’
obligations in connection therewith; and

     (d) the Legal Defeasance provisions of this Indenture;

          Subject to compliance with this Article 8, the Issuers may exercise their option under this
Section 8.02 notwithstanding the prior exercise of their option under Section 8.03.

Section 8.03 Covenant Defeasance.

          Upon the Issuers’ exercise under Section 8.01 of the option applicable to this Section 8.03,
the Issuers shall, subject to the satisfaction of the conditions set forth in Section 8.04, be
released from their obligations under the covenants contained in Article 5 with respect to the
outstanding Notes of such series on and after the date the conditions set forth in Section 8.04 are
satisfied (hereinafter, “Covenant Defeasance”), and the Notes of such series shall thereafter be
deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act
of Holders (and the consequences of any thereof) in connection with such covenants, but shall
continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such
Notes shall not be deemed outstanding for accounting purposes). For this purpose, Covenant
Defeasance means that, with respect to the outstanding Notes of such series, the Issuers may omit
to comply with and shall have no liability in respect of any term, condition or limitation set
forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere
herein to any such covenant or by reason of any reference in any such covenant to any other
provision herein or in any other document and such omission to comply shall not constitute a
Default or an Event of Default under Section 6.01, but, except as specified above, the remainder of
this Indenture and such Notes shall be unaffected thereby. In addition, upon the Issuers’ exercise
under Section 8.01 of the option applicable to this Section 8.03, subject to the satisfaction of
the conditions set forth in Section 8.04, Sections 6.01(3)
through 6.01(5) shall not constitute
Events of Default.

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Section 8.04 Conditions to Legal or Covenant Defeasance.

          In order to exercise either Legal Defeasance pursuant to Section 8.02 or Covenant Defeasance
pursuant to Section 8.03, the following conditions must be met:

     (1) the Issuers must irrevocably deposit or cause to be deposited with the Trustee, in
trust, for the benefit of the Holders, cash in U.S. dollars, non-callable Government
Securities, or a combination thereof, in such amounts as are expected to be sufficient, in
the opinion of a nationally recognized firm of independent public accountants, to pay the
principal of, premium, if any, and interest on the outstanding Notes on the stated maturity
or on the applicable redemption date, as the case may be, and the Issuers must specify
whether the Notes are being defeased to maturity or to a particular redemption date;

     (2) in the case of Legal Defeasance, the Issuers shall have delivered to the Trustee an
Opinion of Counsel reasonably acceptable to the Trustee confirming that

     (a) the Issuers have received from, or there has been published by, the Internal
Revenue Service a ruling or

     (b)
since the date such Notes were first issued, there has been a change in the applicable federal income tax
law,

     in either case to the effect that, and based thereon such Opinion of Counsel shall
confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss
for federal income tax purposes as a result of such Legal Defeasance and will be subject to
federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such Legal Defeasance had not occurred;

     (3) in the case of Covenant Defeasance, the Issuers shall have delivered to the Trustee
an Opinion of Counsel reasonably acceptable to the Trustee confirming that the Holders of
the outstanding Notes will not recognize income, gain or loss for federal income tax
purposes as a result of such Covenant Defeasance and will be subject to federal income tax
on the same amounts, in the same manner and at the same times as would have been the case if
such Covenant Defeasance had not occurred;

     (4) no Default or Event of Default shall have occurred and be continuing (on the date
of such deposit (other than resulting from the borrowing of funds to be applied to such
deposit and the grant of any Lien securing such borrowing)):

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

     (6) the Issuers must deliver to the Trustee an Officers’ Certificate stating that the
deposit was not made by the Issuers with the intent of preferring Holders over the

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other
creditors of the Issuers with the intent of defeating, hindering, delaying or defrauding
creditors of the Issuers or others; and

     (7) the Issuers must deliver to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the
Covenant Defeasance have been complied with.

          Notwithstanding the foregoing, the Opinion of Counsel required by clause (2) above with
respect to a Legal Defeasance need not be delivered if all Notes not theretofore delivered to the
Trustee for cancellation,

     (a) have become due and payable or

     (b) will become due and payable on the maturity date within one year, by their terms or
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 Issuers.

Section 8.05 Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions.

          Subject to Section 8.06, all money and non-callable Government Securities (including the
proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for
purposes of this Section 8.05, the “Trustee”) pursuant to Section 8.04 in respect of the
outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the
provisions of the Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Issuers acting as Paying Agent) as the Trustee may determine, to Holders of
all sums due and to become due thereon in respect of principal, premium, if any, and interest, but
such money need not be segregated from other funds except to the extent required by law.

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

          Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Issuers from time to time upon the request of the Issuers any money or non-callable
Government Securities held by it as provided in Section 8.04 which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee (which may be the opinion delivered under Section 8.04(1)), are in excess
of the amount thereof that would then be required to be deposited to effect an equivalent Legal
Defeasance or Covenant Defeasance.

Section 8.06 Repayment to Issuers.

          Any money deposited with the Trustee or any Paying Agent, or then held by the Issuers, in
trust for the payment of the principal of, premium, if any, or interest on any Note and remaining
unclaimed for two years after such principal, and premium, if any, or interest has

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become due and
payable shall be paid to the Issuers on their request or (if then held by the Issuers) shall be
discharged from such trust; and the Holder of such Note shall thereafter look only to the Issuers
for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such
trust money, and all liability of the Issuers 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 Issuers cause to be published once, in The New York Times and The Wall
Street Journal (national edition), notice that such money remains unclaimed and that, after a date
specified therein, which shall not be less than 30 days from the date of such notification or
publication, any unclaimed balance of such money then remaining shall be repaid to the Issuers.

Section 8.07 Reinstatement.

          If the Trustee or Paying Agent is unable to apply any United States dollars or non-callable
Government Securities in accordance with Section 8.02 or 8.03, as the case may be, by reason of any
order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Issuers’ obligations under this Indenture and the Notes,
shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03
until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance
with Section 8.02 or 8.03, as the case may be; provided, however, that, if the Issuers make any
payment of principal of, premium, if any, or interest on any Note following the reinstatement of
their obligations, the Issuers shall be subrogated to the rights of Holders to receive such payment
from the money held by the Trustee or Paying Agent.

ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER

Section 9.01 Without Consent of Holders of Notes.

          Notwithstanding Section 9.02 of this Indenture, the Issuers and the Trustee may amend or
supplement this Indenture or the  Notes of any series without the
consent of any Holder of a Note of such series:

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

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

     (3)
[provide for or confirm the issuance of additional Notes];

     (4) provide for the assumption of the Issuers’  obligations to Holders
in the case of a merger or consolidation or sale of all or substantially all of the assets
of the Issuers pursuant to Article 5;

     (5) make any change that would provide any additional rights or benefits to Holders of
any series or that does not adversely affect the legal rights under this Indenture of any
such Holder;

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     (6) comply with requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the TIA or otherwise as necessary to comply with
applicable law;

     (7) make any change for the issuance of any series of Notes including with respect to
the terms thereof that would provide any additional rights or benefits to Holders of any
series or that does not adversely affect the legal rights under this Indenture of any such
Holder;

     (8) conform this Indenture, as amended and supplemented, or the Notes, as amended
or supplemented, to the description and terms of such Notes in the offering memorandum,
prospectus supplement or other offering document applicable to such Notes at the time of the
initial sale thereof;

     (9) change or eliminate any of the provisions of this Indenture; provided that any such
change or elimination shall become effective only when there is no outstanding Notes of any
series created prior to the execution of such supplemental indenture that is entitled to the
benefit of such provision and as to which such supplemental indenture would apply; or

     (10) evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to one or more series of Notes and to add to or change any of the
provisions of this Indenture as shall be necessary for or to facilitate the administration of
the trusts hereunder by more than one Trustee.

          Upon the request of the Issuers accompanied by a resolution of their respective boards of
directors or the Board of Directors of CCI authorizing the execution of any such amended or
supplemental indenture, and upon receipt by the Trustee an Officers’ Certificate and an Opinion of
Counsel pursuant to Section 9.06, the Trustee shall join with the issuers in the execution of any
amended or supplemental indenture authorized or permitted by the terms of this Indenture and to
make any further appropriate agreements and stipulations that may be therein contained, but the
Trustee shall not be obligated to enter into such amended or supplemental indenture that affects
its own rights, duties or immunities under this Indenture or otherwise.

Section 9.02 With Consent of Holders of Notes.

          Except
as provided below in this Section 9.02, this Indenture or the
Notes of any series may be amended or
supplemented with the consent of the Holders of at least a majority in aggregate principal amount
of the outstanding Notes of each series affected (including, without limitation,
consents obtained in connection with a purchase of, or a tender offer or
exchange offer for, Notes) and, subject to Sections 6.04 and 6.07, any existing Default or
compliance with any provision of this Indenture or the Notes of any
series may be waived, including by way of
amendment, with the consent of the Holders of a majority in aggregate
principal amount of the outstanding Notes of each series affected
 (including, without limitation, consents obtained in connection with a purchase
of, or a tender offer or exchange offer for, Notes). Section 2.08 shall determine which Notes are
considered to be “outstanding” for purposes of this Section 9.02.

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          Upon the request of the Issuers accompanied by a resolution of their respective boards of
directors or the Board of Directors of CCI authorizing the execution of any such amended or
supplemental indenture, and upon the filing with the Trustee of evidence satisfactory to the
Trustee of the consent of the Holders of such Notes as aforesaid, and upon receipt by the Trustee of an
Officers’ Certificate and an Opinion of Counsel pursuant to Section 9.06, the Trustee shall join
with the Issuers in the execution of such amended or supplemental indenture unless such amended or
supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated
to, enter into such amended or supplemental indenture.

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

          After an amendment, supplement or waiver under this Section 9.02 becomes effective, the
Issuers shall mail to the Holders affected thereby a notice briefly describing the amendment,
supplement or waiver. Any failure of the Issuers to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such amended or supplemental
indenture or waiver. Subject to Sections 6.04 and 6.07, the Holders of a majority in aggregate
principal amount of the outstanding Notes of each affected series may waive compliance in a particular instance by the
Issuers with any provision of this Indenture or such Notes. However, without the consent of each
Holder affected, an amendment, supplement or waiver under this Section 9.02 may not (with respect
to any Notes held by a non-consenting Holder):

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

     (2) reduce the principal of or change the fixed maturity of any Note or alter the
payment provisions with respect to the redemption of the Notes;

     (3) reduce the rate of or extend the time for payment of interest on any Note;

     (4) waive a Default or Event of Default in the payment of principal of, or premium, if
any, or interest on the Notes (except a rescission of acceleration of the Notes by the
Holders of at least a majority in aggregate principal amount of the Notes and a waiver of
the payment default that resulted from such acceleration);

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

     (6) make any change in the provisions of this Indenture relating to waivers of past
Defaults or the rights of Holders to receive payments of principal of, or premium, if any,
or interest on the Notes;

     (7) waive a redemption payment with respect to any Note; or

     (8) make any change in this Section 9.02.

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Section 9.03 Compliance with Trust Indenture Act.

          Every amendment or supplement to this Indenture or the Notes shall be set forth in a amended
or supplemental indenture that complies with the TIA as then in effect.

Section 9.04 Revocation and Effect of Consents.

          Until an amendment, supplement or waiver becomes effective, a consent thereto by a Holder is a
continuing consent by the Holder and every subsequent Holder of a Note or portion of a Note that
evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not
made on any Note. However, any such Holder or subsequent Holder may revoke the consent as to its
Note if the Trustee receives written notice of revocation before the date the waiver, supplement or
amendment becomes effective. An amendment, supplement or waiver becomes effective in accordance
with its terms and thereafter binds every Holder.

Section 9.05 Notation on or Exchange of Notes.

          The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Note thereafter authenticated. The Issuers in exchange for all Notes may issue and the Trustee
shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment,
supplement or waiver.

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

Section 9.06 Trustee to Sign Amendments, etc.

          The Trustee shall sign any amended or supplemental indenture authorized pursuant to this
Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities
or immunities of the Trustee. The Issuers may not sign an amendment or supplemental Indenture
until their respective boards of directors approve it. In executing any amended or supplemental
indenture, the Trustee shall be provided with and (subject to Section 7.01) shall be fully
protected in relying upon, in addition to the documents required by Section 11.04, an Officers’
Certificate and an Opinion of Counsel, in each case from each of the Issuers, stating that the
execution of such amended or supplemental indenture is authorized or permitted by this Indenture.

ARTICLE 10

GUARANTEE

Section 10.01 Guarantee.

          (a) To the extent applicable, each Guarantor hereby jointly and severally, irrevocably and
unconditionally guarantees, as a primary obligor and not merely as a surety, to each Holder and to
the Trustee (i) the full and punctual payment when due, whether at Stated Maturity, by
acceleration, by redemption or otherwise, of all obligations of the Issuers under this Indenture
(including obligations to the Trustee) and the Notes, whether for payment of principal

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of, premium,
if any, or interest on in respect of the Notes and all other monetary obligations of the Issuers
under this Indenture and the Notes and (ii) the full and punctual performance within applicable
grace periods of all other obligations of the Issuers whether for fees, expenses, indemnification
or otherwise under this Indenture and the Notes (all the foregoing being hereinafter collectively
called the “Guaranteed Obligations”). Each Guarantor further agrees that the Guaranteed
Obligations may be extended or renewed, in whole or in part, without notice or further assent from
any Guarantor, and that each Guarantor shall remain bound under this Article 10 notwithstanding any
extension or renewal of any Guaranteed Obligation.

          (b) To the extent applicable, each Guarantor waives presentation to, demand of payment from
and protest to the Issuers of any of the Guaranteed Obligations and also waives notice of protest
for nonpayment. Each Guarantor waives notice of any default under the Notes or the Guaranteed
Obligations. The obligations of each Guarantor hereunder shall not be affected by (i) the failure
of any Holder or the Trustee to assert any claim or demand or to enforce any right or remedy
against the Issuers or any other Person under this Indenture, the Notes or any other agreement or
otherwise; (ii) any extension or renewal of this Indenture, the Notes or any other agreement; (iii)
any rescission, waiver, amendment or modification of any of the terms or provisions of this
Indenture, the Notes or any other agreement; (iv) the failure of any Holder or Trustee to exercise
any right or remedy against any other guarantor of the Guaranteed Obligations; or (v) any change in
the ownership of each Guarantor, except as provided in Section 10.02(b) or Section 10.02(c). Each
Guarantor hereby waives any right to which it may be entitled to have its obligations hereunder
divided among the Guarantors, such that such Guarantor’s obligations would be less than the full
amount claimed.

          (c) Each Guarantor hereby waives any right to which it may be entitled to have the assets of
the Issuers first be used and depleted as payment of the Issuers’ or such Guarantor’s obligations
hereunder prior to any amounts being claimed from or paid by such Guarantor hereunder. Each
Guarantor hereby waives any right to which it may be entitled to require that the Issuer be sued
prior to an action being initiated against such Guarantor.

          (d) Each Guarantor further agrees that its Guarantee herein constitutes a guarantee of payment
when due (and not a guarantee of collection) and waives any right to require that any resort be had
by any holder or the Trustee to any security held for payment of the Guaranteed Obligations.

          (e) The Note Guarantee of each Guarantor is, to the extent and in the manner set forth in
Article 10, equal in right of payment to all existing and future pari passu Indebtedness, senior in
right of payment to all existing and future subordinated Indebtedness of the Issuers and
subordinated and subject in right of payment to the prior payment in full of the principal of and
premium, if any, and interest on all secured Indebtedness of the relevant Guarantor and is made
subject to such provisions of this Indenture.

          (f) Except as expressly set forth in Sections 8.02, 10.02 and 10.06, the obligations of each
Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination
for any reason, including any claim of waiver, release, surrender, alteration or compromise, and
shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever
or by reason of the invalidity, illegality or

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unenforceability of the Guaranteed Obligations or
otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor
herein shall not be discharged or impaired or otherwise affected by the failure of any holder or
the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Notes
or any other agreement, by any waiver or modification of any thereof, by any default, failure or
delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or
omission or delay to do any other act or thing which may or might in any manner or to any extent
vary the risk of any Guarantor or would otherwise operate as a discharge of any Guarantor as a
matter of law or equity.

          (g) Each Guarantor agrees that its Note Guarantee shall remain in full force and effect until
payment in full of all the Guaranteed Obligations. Each Guarantor further agrees that its
Guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any
time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is
rescinded or must otherwise be restored by any holder or the Trustee upon the bankruptcy or
reorganization of the Issuers or otherwise.

          (h) In furtherance of the foregoing and not in limitation of any other right which any Holder
or the Trustee has at law or in equity against any Guarantor by virtue hereof, upon the failure of
the Issuers to pay the principal of or interest on any Guaranteed Obligation when and as the same
shall become due, whether at maturity, by acceleration, by redemption or otherwise, or to perform
or comply with any other Guaranteed Obligation, each Guarantor hereby promises to and shall, upon
receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the
Holders or the Trustee an amount equal to the sum of (i) the unpaid principal amount of such
Guaranteed Obligations, (ii) accrued and unpaid interest on such Guaranteed Obligations (but only
to the extent not prohibited by applicable law) and (iii) all other monetary obligations of the
Issuers to Holders and the Trustee.

          (i) Each Guarantor agrees that it shall not be entitled to any right of subrogation in
relation to Holders in respect of any Guaranteed Obligations guaranteed hereby until payment in
full of all Guaranteed Obligations. Each Guarantor further agrees that, as between it, on the one
hand, and Holders and the Trustee, on the other hand, (i) the maturity of the Guaranteed
Obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of the
Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the Guaranteed Obligations guaranteed hereby, and (ii) in the event of
any declaration of acceleration of such Guaranteed Obligations as provided in
Article 6, such Guaranteed Obligations (whether or not due and payable) shall forthwith become
due and payable by the Parent Guarantor for the purposes of this Section 10.01.

          (j) Each Guarantor also agrees to pay any and all costs and expenses (including reasonable
attorneys’ fees and expenses) incurred by the Trustee or any holder in enforcing any rights under
this Section 10.01.

          (k) Upon request of the Trustee, each Guarantor shall execute and deliver such further
instruments and do such further acts as may be reasonably necessary or proper to carry out more
effectively the purpose of this Indenture.

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Section 10.02 Limitation on Liability.

          (a) Any term or provision of this Indenture to the contrary notwithstanding, the maximum
aggregate amount of the Guaranteed Obligations guaranteed hereunder by each Guarantor shall not
exceed the maximum amount that can be hereby guaranteed without rendering this Indenture, as it
relates to such Guarantor, voidable under applicable law relating to fraudulent conveyance or
fraudulent transfer or similar laws affecting the rights of creditors generally.

          (b) A Subsidiary Guarantee by any Subsidiary that executes a supplemental indenture in
accordance with Section 10.06 and provides a guarantee shall terminate and be of no further force or
effect and such Guarantor shall be deemed to be released from all obligations under this Article 10
upon:

     (i) the sale, disposition, exchange or other transfer (including through merger,
consolidation, amalgamation or otherwise) of the Capital Stock (including any sale,
disposition or other transfer following which the applicable Guarantor is no longer a Wholly
Owned Restricted Subsidiary), of the applicable Guarantor if such sale, disposition,
exchange or other transfer is made in a manner not in violation of this Indenture;

     (ii) [Reserved]

     (iii) the release or discharge of the guarantee of any other Indebtedness which
resulted in the obligation to guarantee the Notes; and

     (iv) the Issuers’ exercise of their legal defeasance option or covenant defeasance
option under Article 8 or if the Issuers’ obligations under this Indenture are discharged in
accordance with the terms of this Indenture.

          A Subsidiary Guarantee also will be automatically released upon the applicable Subsidiary
ceasing to be a Subsidiary as a result of any foreclosure of any pledge or security interest
securing any Credit Facility or other exercise of remedies in respect thereof.

          (c) The Parent Guarantee shall terminate and be of no further force or effect and the Parent
Guarantor shall be deemed to be released from all obligations under this Article 10 upon:

     (i) the Issuers ceasing to be Wholly Owned Subsidiaries of CCI;

     (ii) the Issuers’ transfer of all or substantially all of their assets to, or merger
with, an entity that is not a Wholly Owned Subsidiary of CCI in accordance with Section 5.01
and such transferee entity assumes the Issuers’ obligations under this Indenture; and

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     (iii) the Issuers’ exercise of their Legal Defeasance option or Covenant Defeasance
option under Article 8 or if the Issuers’ obligations under this Indenture are discharged in
accordance with the terms of this Indenture.

Section 10.03 Successors and Assigns.

          This Article 10 shall be binding upon each Guarantor and its successors and assigns and shall
inure to the benefit of the successors and assigns of the Trustee and Holders and, in the event of
any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges
conferred upon that party in this Indenture and in the Notes shall automatically extend to and be
vested in such transferee or assignee, all subject to the terms and conditions of this Indenture.

Section 10.04 No Waiver.

          Neither a failure nor a delay on the part of either the Trustee or Holders in exercising any
right, power or privilege under this Article 10 shall operate as a waiver thereof, nor shall a
single or partial exercise thereof preclude any other or further exercise of any right, power or
privilege. The rights, remedies and benefits of the Trustee and Holders herein expressly specified
are cumulative and not exclusive of any other rights, remedies or benefits which either may have
under this Article 10 at law, in equity, by statute or otherwise.

Section 10.05 Modification.

          No modification, amendment or waiver of any provision of this Article 10, nor the consent to
any departure by any Guarantor therefrom, shall in any event be effective unless the same shall be
in writing and signed by the Trustee, and then such waiver or consent shall be effective only in
the specific instance and for the purpose for which given. No notice to or demand on any Guarantor
in any case shall entitle any Guarantor to any other or further notice or demand in the same,
similar or other circumstances.

Section 10.06 Execution of Supplemental Indenture for Future Guarantors.

          Each Subsidiary and other Person which is required to become a Guarantor of any series of Notes pursuant
to the terms of this Indenture (as supplemented by the supplemental indenture with respect to such Notes) shall promptly execute and deliver to the Trustee a supplemental indenture in the
form of Exhibit E hereto pursuant to which such Subsidiary or other Person shall become a
Guarantor under this Article 10 and shall guarantee the Notes. Concurrently with the execution and
delivery of such supplemental indenture, the Issuers shall deliver to the Trustee an Opinion of
Counsel and an Officers’ Certificate to the effect that such supplemental indenture has been duly
authorized, executed and delivered by such Subsidiary or other Person and that, subject to the
application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other
similar laws relating to creditors’ rights generally and to the principles of equity, whether
considered in a proceeding at law or in equity, the Guarantee of such Guarantor is a valid and
binding obligation of such guarantor, enforceable against such Guarantor in accordance with its
terms and/or to such other matters as the Trustee may reasonably request.

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Section 10.07 Non-Impairment.

          The failure to endorse a Guarantee on any Note shall not affect or impair the validity
thereof.

ARTICLE 11

MISCELLANEOUS

Section 11.01 Trust Indenture Act Controls.

          If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by
TIA § 318(c), the imposed duties shall control.

Section 11.02 Notices.

          Any notices or other communications required or permitted hereunder shall be in writing and
shall be sufficiently given if made by hand delivery, first class mail (registered or certified,
return receipt requested), facsimile transmission or overnight air courier guaranteeing next day
delivery, and addressed as follows:

If to the Issuers:

CCO Holdings, LLC

CCO Holdings Capital Corp.

c/o Charter Communications, Inc.

12405 Powerscourt Drive, Suite 100

St. Louis, Missouri 63131

Facsimile No.: (314) 965-6640

Attention: Corporate Secretary

With a copy to:

Kirkland & Ellis LLP

601 Lexington Avenue

New York, New York 10022

Facsimile No.: (212) 446-4900

Attention: Christian O. Nagler, Esq.

If to the Trustee:

The Bank of New York Mellon Trust Company, N.A.

2 North LaSalle Street, Suite 1020

Chicago, Illinois 60602

Facsimile No.: (312) 827-8542

Attention: Corporate Trust Administration

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          The Issuers or the Trustee, by notice to each other Person may designate additional or
different addresses for subsequent notices or communications.

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

          Any notice or communication to a Holder shall be mailed by first class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to
its address shown on the register kept by the Registrar. Any notice or communication shall also be
so mailed to any Person described in TIA § 313(c), to the extent required by the TIA. Failure to
mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency
with respect to other Holders.

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

          If the Issuers mail a notice or communication to Holders, it shall mail a copy to the Trustee
and each Agent at the same time.

          The Trustee agrees to accept and act upon instructions or directions pursuant to this
Indenture sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured
electronic methods, provided, however, that the Trustee shall have received an incumbency
certificate listing persons designated to give such instructions or directions and containing
specimen signatures of such designated persons, which such incumbency certificate shall be amended
and replaced whenever a person is to be added or deleted from the listing. If the Issuer elects to
give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method)
and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding
of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses,
costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance
with such instructions notwithstanding such instructions conflict or are inconsistent with a
subsequent written instruction. The Issuer agrees to assume all risks arising out of the use of
such electronic methods to submit instructions and directions to the Trustee, including without
limitation the risk of the Trustee acting on unauthorized instructions, and the risk or
interception and misuse by third parties.

Section 11.03 Communication by Holders with Other Holders.

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

Section 11.04 Certificate and Opinion as to Conditions Precedent.

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

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

     (ii) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
(which shall include the statements set forth in Section 11.05) stating that, in the opinion
of such counsel, all such conditions precedent and covenants have been satisfied.

Section 11.05 Statements Required in Certificate or Opinion.

          Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall comply
with the provisions of TIA § 314(e) and shall include:

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

     (ii) 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;

     (iii) a statement that, in the opinion of such Person, he or she 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 satisfied; and

     (iv) a statement as to whether or not, in the opinion of such Person, such condition or
covenant has been satisfied.

Section 11.06 Rules by Trustee and Agents.

          The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

Section 11.07 No Personal Liability of Directors, Officers, Employees, Members and Stockholders.

          No director, officer, employee, incorporator, member or stockholder of the Issuers or CCI, as
such, shall have any liability for any obligations of the Issuers or CCI under the Notes or this
Indenture or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and
release are part of the consideration for issuance of the Notes.

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Section 11.08 Governing Law.

          THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE
AND THE NOTES AND ANY GUARANTEE WITHOUT GIVING EFFECT TO THE APPLICABLE PRINCIPLES OF CONFLICTS OF
LAWS TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED
THEREBY. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE
STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE
NOTES OR ANY GUARANTEE.

Section 11.09 No Adverse Interpretation of Other Agreements.

          This Indenture may not be used to interpret any other indenture, loan or debt agreement of the
Issuers or their Subsidiaries or of any other Person. Any such indenture, loan or debt agreement
may not be used to interpret this Indenture.

Section 11.10 Successors.

          All agreements of the Issuers in this Indenture and the Notes, as the case may be, shall bind
their respective successors. All agreements of the Trustee in this Indenture shall bind its
successors.

Section 11.11 Severability.

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

Section 11.12 Counterpart Originals.

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

Section 11.13 Table of Contents, Headings, etc.

          The Table of Contents, Cross-Reference Table and headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a part of
this Indenture and shall in no way modify or restrict any of the terms or provisions.

Section 11.14 Waiver of Jury Trial.

          EACH OF THE ISSUERS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY.

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Section 11.15 Force Majeure.

          In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts
of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services; it being understood that the Trustee shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as
practicable under the circumstances.

ARTICLE 12

SATISFACTION AND DISCHARGE

Section 12.01 Satisfaction and Discharge of Indenture.

          This Indenture shall cease to be of further effect (except as to any surviving rights of
registration of transfer or exchange of Notes herein expressly provided for), and the Trustee, on
demand of and at the expense of the Issuers, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture, when

          (1) either

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

     (b) all such Notes 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 one year, or

     (iii) are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption by the Trustee in
the name, and at the expense, of the Issuers,

     and the Issuers, in the case of (i), (ii) or (iii) above, have deposited or caused to
be deposited with the Trustee as trust funds in trust for the purpose an amount sufficient
to pay and discharge the entire indebtedness on such Notes 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 Notes which have become due and payable) or to the maturity or
redemption thereof, as the case may be;

-56-

 

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

     (3) each of the Issuers has delivered to the Trustee an Officers’ 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 complied with.

Notwithstanding the satisfaction and discharge of this Indenture pursuant to this Article 11, the
obligations of the Issuers to the Trustee under Section 7.07, and, if money shall have been
deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section 12.01, the
obligations of the Trustee under Section 12.02 shall survive such satisfaction and discharge.

Section 12.02 Application of Trust Money.

          All money deposited with the Trustee pursuant to Section 12.01 shall be held in trust and
applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment,
either directly or through any 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 the Trustee.

[Signatures on following page]

-57-

 

Dated as of [               ], 2011

	 	 	 	 	 
	 	CCO HOLDINGS, LLC, as an Issuer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CCO HOLDINGS CAPITAL CORP., as an Issuer

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CHARTER COMMUNICATIONS, INC., as Guarantor, with
respect to Article 10 and Section 7.07 only

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

EXHIBIT A

[THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS
HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT
(1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT
NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY
BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE
INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH
THE PRIOR WRITTEN CONSENT OF THE ISSUERS. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE
OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS
A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK)
(“DTC”), TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH
OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 1

[THE NOTE (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A
TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE NOTE EVIDENCED HEREBY MAY NOT
BE OFFERED, SOLD

 

			
	1	 	Include Global Note Legend, if applicable.

A-1-1

 

OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE
EXEMPTION THEREFROM. EACH PURCHASER OF THE NOTES EVIDENCED HEREBY IS HEREBY NOTIFIED
THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF
THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE NOTES
EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUERS THAT (A) SUCH SECURITY MAY BE
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) (A) TO A PERSON WHO IS A QUALIFIED
INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A
TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (B) IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES TO A
NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 UNDER THE
SECURITIES ACT, OR (D) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE
ISSUERS SO REQUEST), (II) TO THE ISSUERS, OR (III) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT AND, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION, AND (B)
THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM
IT OF THE NOTES EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN CLAUSE (A)
ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED
BY RULE 144 FOR RESALE OF THE NOTE EVIDENCED HEREBY.]2

[THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION
ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR
THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE
SECURITIES LAWS. TERMS USED ABOVE HAVE

 

			
	2	 	Include Private Placement Legend, if applicable.

A-1-2

 

THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES
ACT.]3

 

			
	3	 	Include Regulation S Legend, if applicable.

A-1-3

 

[Face of Note]

CUSIP NO. [_________]

[•]% Senior Notes due [•]

No [   ].

$[          ]

CCO HOLDINGS, LLC

and

CCO HOLDINGS CAPITAL CORP.

promise to pay to CEDE & CO. or to registered assigns the principal amount of $[          ] Dollars on [          ].

Interest Payment Dates: [          ] and [          ]

Record Dates: [          ] and [          ]

Subject to Restrictions set forth in this Note.

A-1-1

 

          IN WITNESS WHEREOF, each of CCO Holdings, LLC and CCO Holdings Capital Corp. has caused this
instrument to be duly executed.

Dated: [          ]

	 	 	 	 	 
	 	CCO HOLDINGS, LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	CCO HOLDINGS CAPITAL CORP.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	 	This is one of the Notes referred to

in the within-mentioned Indenture:

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

A-1-2

 

EXHIBIT B

FORM OF CERTIFICATE OF TRANSFER

CCO Holdings, LLC

CCO Holdings Capital Corp.

c/o Charter Communications, Inc.

12405 Powerscourt Drive, Suite 100

St. Louis, Missouri 63131

The Bank of New York Mellon Trust Company, N.A.

2 North LaSalle Street, Suite 1020

Chicago, Illinois 60602

Facsimile No.: (312) 827-8542

Attention: Corporate Trust Administration

          Re: CCO Holdings, LLC and CCO Holdings Capital Corp.

          o [     ]% Senior Notes due [     ] (CUSIP [     ]) (the “Notes”)

          Reference is hereby made to the Indenture, dated as of May [    ], 2011 (as amended, supplemented or otherwise modified, the “Indenture”),
among CCO Holdings, LLC (the “Company”), CCO Holdings Capital Corp. (“Capital Corp” and, together
with the Company, the “Issuers”), the guarantor party thereto and The Bank of New York Mellon Trust
Company, N.A., as trustee. Capitalized terms used but not defined herein shall have the meanings
given to them in the Indenture.

          ___________________ (the “Transferor”) owns and proposes to transfer the Note[s] or interest
in such Note[s] specified in Annex A hereto, in the principal amount of
$_____________________________ in such Note[s] or interests (the “Transfer”), to
___________________________ (the “Transferee”), as further specified in Annex A hereto. In
connection with the Transfer, the Transferor hereby certifies that:

          [CHECK ALL THAT APPLY]

o 1. Check if Transferee will take delivery of a beneficial interest in the Rule 144A Global
Note or a Definitive Note Pursuant to Rule 144A. The Transfer is being effected pursuant to and in
accordance with Rule 144A under the United States Securities Act of 1933, as amended (the
“Securities Act”), and, accordingly, the Transferor hereby further certifies that the beneficial
interest or Definitive Note is being transferred to a Person that the Transferor reasonably
believed and believes is purchasing the beneficial interest or Definitive Note for its own account,
or for one or more accounts with respect to which such Person exercises sole investment discretion,
and such Person and each such account is a “qualified institutional buyer” within the meaning of
Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance
with any applicable blue sky securities laws of any state of the United States. Upon consummation
of the proposed

B-1

 

Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the Rule 144A Global Note and/or the Definitive Note and in the Indenture and the
Securities Act.

o 2. Check if Transferee will take delivery of a beneficial interest in the Regulation S Global
Note or a Definitive Note pursuant to Regulation S. The Transfer is being effected pursuant to and
in accordance with Rule 903 or Rule 904 under the Securities Act and, accordingly, the Transferor
hereby further certifies that (i) the Transfer is not being made to a person in the United States
and (x) at the time the buy order was originated, the Transferee was outside the United States or
such Transferor and any Person acting on its behalf reasonably believed and believes that the
Transferee was outside the United States or (y) the transaction was executed in, on or through the
facilities of a designated offshore securities market and neither such Transferor nor any Person
acting on its behalf knows that the transaction was prearranged with a buyer in the United States,
(ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b)
or Rule 904(b) of Regulation S under the Securities Act and (iii) the transaction is not part of a
plan or scheme to evade the registration requirements of the Securities Act. Upon consummation of
the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial
interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the
Private Placement Legend printed on the Regulation S Global Note and/or the Definitive Note and in
the Indenture and the Securities Act. If the Transfer of the beneficial interest occurs prior to
the expiration of the 40-day distribution compliance period set forth in Regulation S, the
transferred beneficial interest will be held immediately thereafter through Euroclear or
Clearstream.

o 3. Check and complete if Transferee will take delivery of a beneficial interest in a
Definitive Note pursuant to any provision of the Securities Act other than Rule 144A or Regulation
S. The Transfer is being effected in compliance with the transfer restrictions applicable to
beneficial interests in Restricted Global Notes and Restricted Definitive Notes and pursuant to and
in accordance with the Securities Act and any applicable blue sky securities laws of any state of
the United States, and accordingly the Transferor hereby further certifies that (check one):

     o (i) such Transfer is being effected pursuant to and in accordance with Rule 144 under
the Securities Act; or

     o (ii) such Transfer is being effected to the Company or a subsidiary thereof; or

     o (iii) such Transfer is being effected pursuant to an effective registration statement
under the Securities Act and in compliance with the prospectus delivery requirements of the
Securities Act; or

     o (iv) such Transfer is being effected to an Institutional Accredited Investor and
pursuant to an exemption from the registration requirements of the

B-2

 

Securities Act other than Rule 144A, Rule 144 or Rule 904, and the Transferor hereby
further certifies that it has not engaged in any general solicitation within the meaning of
Regulation D under the Securities Act and the Transfer complies with the transfer
restrictions applicable to beneficial interests in a Restricted Global Note or Restricted
Definitive Notes and the requirements of the exemption claimed, which certification is
supported by (1) a certificate executed by the Transferee in the form of Exhibit D to the
Indenture and (2) an Opinion of Counsel provided by the Transferor or the Transferee (a copy
of which the Transferor has attached to this certification), to the effect that such
Transfer is in compliance with the Securities Act. Upon consummation of the proposed
transfer in accordance with the terms of the Indenture, the transferred beneficial interest
or Definitive Note will be subject to the restrictions on transfer enumerated in the Private
Placement Legend printed on the Restricted Global Note and/or the Definitive Notes and in
the Indenture and the Securities Act.

     o 4. Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global
Note or of an Unrestricted Definitive Note.

     o (i) Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected
pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with
the transfer restrictions contained in the Indenture and any applicable blue sky securities
laws of any state of the United States and (ii) the restrictions on transfer contained in
the Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will no longer be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive
Notes and in the Indenture.

     o (ii) Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected
pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in
compliance with the transfer restrictions contained in the Indenture and any applicable blue
sky securities laws of any state of the United States and (ii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will no longer be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive
Notes and in the Indenture.

     o (iii) Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being
effected pursuant to and in compliance with an exemption from the registration requirements
of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the
transfer restrictions contained in the Indenture and any applicable blue sky securities laws
of any State of the United States and (ii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend

B-3

 

are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will not be subject to the restrictions
on transfer enumerated in the Private Placement Legend printed on the Restricted Global
Notes or Restricted Definitive Notes and in the Indenture.

          This certificate and the statements contained herein are made for your benefit and the benefit
of the Issuers.

________________________

[Insert Name of Transferor]

By________________________

   Name:

   Title:

Dated: _______________________

B-4

 

ANNEX A TO CERTIFICATE OF TRANSFER

	 	1.	 	The Transferor owns and proposes to transfer the following:

          [CHECK ONE OF (a) OR (b)]

	 	o	 	(a) a beneficial interest in the:
	 
	 	o	 	(i) Rule 144A Global Note (CUSIP __________), or
	 
	 	o	 	(ii) Regulation S Global Note (CUSIP _________), or
	 
	 	o	 	(b) a Restricted Definitive Note.
	 
	 	2.	 	After the Transfer the Transferee will hold:

          [CHECK ONE]

	 	o	 	(a) a beneficial interest in the:
	 
	 	o	 	(i) Rule 144A Global Note (CUSIP __________), or
	 
	 	o	 	(ii) Regulation S Global Note (CUSIP _________), or
	 
	 	o	 	(iii) Unrestricted Global Note (CUSIP _________); or
	 
	 	o	 	(b) a Restricted Definitive Note; or
	 
	 	o	 	(c) an Unrestricted Definitive Note,

in accordance with the terms of the Indenture.

B-5

 

EXHIBIT C

FORM OF CERTIFICATE OF EXCHANGE

CCO Holdings, LLC

CCO Holdings Capital Corp.

c/o Charter Communications, Inc.

12405 Powerscourt Drive, Suite 100

St. Louis, Missouri 63131

The Bank of New York Mellon Trust Company, N.A.

2 North LaSalle Street, Suite 1020

Chicago, Illinois 60602

Facsimile No.: (312) 827-8542

Attention: Corporate Trust Administration

          Re: CCO Holdings, LLC and CCO Holdings Capital Corp.

o [      ]% Senior Notes due [       ] (CUSIP [       ]) (the “Notes”)

          Reference is hereby made to the Indenture, dated as of May [    ], 2011 (as amended, supplemented or otherwise modified, the “Indenture”),
among CCO Holdings, LLC (the “Company”), CCO Holdings Capital Corp. (“Capital Corp” and, together
with the Company, the “Issuers”), the guarantor party thereto and The Bank of New York Mellon Trust
Company, N.A., as trustee. Capitalized terms used but not defined herein shall have the meanings
given to them in the Indenture.

          __________________________ (the “Owner”) owns and proposes to exchange the Note[s] or interest
in such Note[s] specified herein, in the principal amount of $____________________________ in such
Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies
that:

          1. Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note
for Unrestricted Definitive Notes or Beneficial Interests in an Unrestricted Global Note

     o       (i) Check if Exchange is from beneficial interest in a Restricted Global Note to
beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the
Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an
Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer, (ii)
such Exchange has been effected in compliance with the transfer restrictions applicable to
the Global Notes and pursuant to and in accordance with the United States Securities Act of
1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to maintain compliance
with the Securities

C-1

 

Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired
in compliance with any applicable blue sky securities laws of any state of the United
States. If the Exchange is from beneficial interest in a Regulation S Global Note to
beneficial interest in an Unrestricted Global Note, the Owner further certifies that it is
either (x) a non-U.S. Person to whom Notes would be transferred in accordance with
Regulation S or (y) a U.S. Person who purchased Notes in a transaction that did not require
registration under the Securities Act.

     o      (ii) Check if Exchange is from beneficial interest in a Restricted Global Note to
Unrestricted Definitive Note. In connection with the Exchange of the Owner’s beneficial
interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby
certifies (i) the Definitive Note is being acquired for the Owner’s own account without
transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to the Restricted Global Notes and pursuant to and in accordance with the
Securities Act, (iii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the Definitive Note is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States.

     o      (iii) Check if Exchange is from Restricted Definitive Note to beneficial interest in an
Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted
Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby
certifies (i) the beneficial interest is being acquired for the Owner’s own account without
transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to Restricted Definitive Notes and pursuant to and in accordance with the
Securities Act, (iii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the beneficial interest is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States. If the Exchange is
from beneficial interest in a Regulation S Global Note to an Unrestricted Definitive Note,
the Owner further certifies that it is either (x) a non-U.S. Person to whom Notes could be
transferred in accordance with Regulation S or (y) a U.S. Person who purchased Notes in a
transaction that did not require registration under the Securities Act.

     o      (iv) Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive
Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an
Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive
Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has
been effected in compliance with the transfer restrictions applicable to Restricted
Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act and (iv) the Unrestricted
Definitive Note is being

C-2

 

acquired in compliance with any applicable blue sky securities laws of any state of the
United States.

          2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes
for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes

     o      (i) Check if Exchange is from beneficial interest in a Restricted Global Note to
Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial
interest in a Restricted Global Note for a Restricted Definitive Note with an equal
principal amount, the Owner hereby certifies that the Restricted Definitive Note is being
acquired for the Owner’s own account without transfer. If the Exchange is from beneficial
interest in a Regulation S Global Note to a Restricted Definitive Note, the Owner further
certifies that it is either (x) a non-U.S. Person to whom Notes could be transferred in
accordance with Regulation S or (y) a U.S. Person who purchased Notes in a transaction that
did not require registration under the Securities Act. Upon consummation of the proposed
Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note
issued will continue to be subject to the restrictions on transfer enumerated in the Private
Placement Legend printed on the Restricted Definitive Note and in the Indenture and the
Securities Act.

     o      (ii) Check if Exchange is from Restricted Definitive Note to beneficial interest in a
Restricted Global Note. In connection with the Exchange of the Owner’s Restricted
Definitive Note for a beneficial interest in the [CHECK ONE] o Rule 144A Global Note or o
Regulation S Global Note with an equal principal amount, the Owner hereby certifies (i) the
beneficial interest is being acquired for the Owner’s own account without transfer and (ii)
such Exchange has been effected in compliance with the transfer restrictions applicable to
the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and
in compliance with any applicable blue sky securities laws of any state of the United
States. Upon consummation of the proposed Exchange in accordance with the terms of the
Indenture, the beneficial interest issued will be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the relevant Restricted Global Note
and in the Indenture and the Securities Act.

C-3

 

          This certificate and the statements contained herein are made for your benefit and the benefit
of the Issuers.

	 	 	 	 	 

	 	 	 
	[Insert Name of Transferor]	 	 
	 
	 	 	 	 
	By

	 	 
 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	Dated:

	 	                                        	 	 

C-4

 

EXHIBIT D

FORM OF CERTIFICATE FROM

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

CCO Holdings, LLC

CCO Holdings Capital Corp.

c/o Charter Communications, Inc.

12405 Powerscourt Drive, Suite 100

St. Louis, Missouri 63131

The Bank of New York Mellon Trust Company, N.A.

2 North LaSalle Street, Suite 1020

Chicago, Illinois 60602

Facsimile No.: (312) 827-8542

Attention: Corporate Trust Administration

          Re: CCO Holdings, LLC and CCO Holdings Capital Corp.

o [      ]% Senior Notes due [       ] (CUSIP [      ]) (the “Notes”)

          Reference is hereby made to the Indenture, dated as of May [    ], 2011 (as amended, supplemented or otherwise modified, the “Indenture”),
among CCO Holdings, LLC (the “Company”), CCO Holdings Capital Corp. (“Capital Corp” and, together
with the Company, the “Issuers”), the guarantor party thereto and The Bank of New York Mellon Trust
Company, N.A., as trustee. Capitalized terms used but not defined herein shall have the meanings
given to them in the Indenture.

          In connection with our proposed purchase of $____________ aggregate principal amount of:

          (i)    o   a beneficial interest in a Global Note, or

          (ii)    o   a Definitive Note,

we confirm that:

          1. We understand that any subsequent transfer of the Notes or any interest therein is subject
to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be
bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except
in compliance with, such restrictions and conditions and the United States Securities Act of 1933,
as amended (the “Securities Act”).

          2. We understand that the offer and sale of the Notes have not been registered under the
Securities Act, and that the Notes and any interest therein may not be offered or sold except as
permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for
which we are acting as hereinafter stated, that if we should

D-1

 

sell the Notes or any interest therein, we will do so only (a) to the Company or any
subsidiary thereof, (b) in accordance with Rule 144A under the Securities Act to a “qualified
institutional buyer” (as defined therein), (c) to an institutional “accredited investor” (as
defined below) that, prior to such transfer, furnishes (or has furnished on its behalf by a U.S.
broker-dealer) to you and to the Company a signed letter substantially in the form of this letter
and an Opinion of Counsel in form reasonably acceptable to the Company to the effect that such
transfer is in compliance with the Securities Act, (d) outside the United States in accordance with
Rule 904 of Regulation S under the Securities Act, (e) pursuant to the provisions of Rule 144(d)
under the Securities Act or (f) pursuant to an effective registration statement under the
Securities Act, and we further agree to provide to any person purchasing the Definitive Note or
beneficial interest in a Global Note from us in a transaction meeting the requirements of clauses
(a) through (e) of this paragraph a notice advising such purchaser that resales thereof are
restricted as stated herein.

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

          4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) of Regulation D under the Securities Act) and have such knowledge and experience in financial
and business matters as to be capable of evaluating the merits and risks of our investment in the
Notes, and we and any accounts for which we are acting are each able to bear the economic risk of
our or its investment.

          5. We are acquiring the Notes or beneficial interest therein purchased by us for our own
account or for one or more accounts (each of which is an institutional “accredited investor”) as to
each of which we exercise sole investment discretion.

          You and the Issuers are entitled to rely upon this letter and are irrevocably authorized to
produce this letter or a copy to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby.

	 	 	 	 	 

	 	 	 
	[Insert Name of Transferor]	 	 
	 
	 	 	 	 
	By

	 	 
 

Name:
	 	 
	 

	 	Title:	 	 
	Dated:

	 	                                        	 	 

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EXHIBIT E

     [FORM OF SUPPLEMENTAL INDENTURE]

     SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated as of [       ],
among [GUARANTOR] (the “New Guarantor”), a subsidiary of CCO Holdings, LLC (or its
successor), a Delaware limited liability company and CCO Holdings Capital Corp. (or its successor),
a Delaware corporation (together, the “Issuers”), and THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., a national banking association, as trustee under the indenture referred to below
(the “Trustee”).

     W I T N E S S E T H :

     WHEREAS the Issuers and CHARTER COMMUNICATIONS, INC., a Delaware corporation (the “Parent
Guarantor”) have heretofore executed and delivered to the Trustee an indenture (as amended,
supplemented or otherwise modified, the “Indenture”) dated as of May [     ],
2011, providing for the issuance of the Issuers’ [       ]% Senior Notes due [       ]
initially in the aggregate principal amount of $[           ] (the “Notes”);

     WHEREAS Section [•] of the Indenture provides that under certain circumstances the Company is
required to cause the New Guarantor to execute and deliver to the Trustee a supplemental indenture
pursuant to which the New Guarantor shall unconditionally guarantee all the Issuers’ Obligations
under the Notes and the Indenture pursuant to a Note Guarantee on the terms and conditions set
forth herein; and

     WHEREAS pursuant to Section 9.01 of the Indenture, the Trustee, the Issuers, the Parent
Guarantor and other existing Guarantors, if any, are authorized to execute and deliver this
Supplemental Indenture;

     NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the New Guarantor, the Parent
Guarantor, the Issuers and the Trustee mutually covenant and agree for the equal and ratable
benefit of Holders as follows:

     1. Defined Terms. As used in this Supplemental Indenture, terms defined in the
Indenture or in the preamble or recital hereto are used herein as therein defined, except that the
term “holders” in this Supplemental Indenture shall refer to the term “holders” as
defined in the Indenture and the Trustee acting on behalf of and for the benefit of such holders.
The words “herein,” “hereof” and “hereby” and other words of similar import
used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any
particular section hereof.

     2. Agreement to Guarantee. The New Guarantor hereby agrees, jointly and severally
with all existing guarantors (if any), to unconditionally guarantee the Issuers’

E-1

 

Obligations under the Notes and the Indenture on the terms and subject to the conditions set
forth in Article 10 of the Indenture and to be bound by all other applicable provisions of the
Indenture and the Notes and to perform all of the obligations and agreements of a Guarantor under
the Indenture.

     3. Notices. All notices or other communications to the New Guarantor shall be given
as provided in Section 11.02 of the Indenture.

     4. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as
expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the
terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental
Indenture shall form a part of the Indenture for all purposes, and every Holder heretofore or
hereafter authenticated and delivered shall be bound hereby.

     5. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
LAW.

     6. Trustee Makes No Representation. The Trustee makes no representation as to the
validity or sufficiency of this Supplemental Indenture.

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

     8. Effect of Headings. The Section headings herein are for convenience only and shall
not effect the construction thereof.

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

	 	 	 	 	 
	 	[NEW GUARANTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE BANK OF NEW YORK MELLON
      TRUST COMPANY, N.A., as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

E-3

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