Document:

Exhibit 10.11

    April 15,
2009

    

    MDwerks,
Inc.

    Attention:
David Barnes

    Windolph
Center, Suite I

    1020 N.W.
6th Street

    Deerfield
Beach, FL 33442

    

    
      	
               
      

            	
              Re:

            	
              Deferral
      of Principal and Interest Payments

            

    

    

    Dear
David:

    

    Reference is made to the indebtedness
evidenced by: (a) that certain First Amended and Restated Senior Secured
Convertible Note dated September 28, 2007, as amended by Amendment No.1 to the
First Amended and Restated Senior Secured Convertible Note dated March 1, 2008,
and Amendment No.2 to the First Amended and Restated Senior Secured Convertible
Note dated November 6, 2008 (as may be further amended, renewed, restated,
modified or supplemented and in effect from time to time), which such note
amends and restates the Senior Secured Convertible Note originally issued on
October 19, 2006 (the “October Note”); and (b) that certain
First Amended and Restated Senior Secured Convertible Note dated September 28,
2007, as amended by Amendment No.1 to the First Amended and Restated Senior
Secured Convertible Note dated March 1, 2008, and Amendment No.2 to the First
Amended and Restated Senior Secured Convertible Note dated November 6, 2008 (as
may be further amended, renewed, restated, modified or supplemented and in
effect from time to time), which such note amends and restates the Senior
Secured Convertible Note originally issued on November 9, 2006 (the “November Note”, or together with the
“October Note”, the
“Notes”).  The
Notes were issued by MDWerks, Inc. (“Borrower”), in favor of Vicis
Capital Master Fund, as assignee of Gottbetter Capital Master Fund, Ltd. (“Lender”), each being in the
original principal amount of $2,500,000 (collectively, the “Loan”) and the documents
executed in connection therewith (collectively with the Notes, the “Loan
Documents”).  All capitalized terms not otherwise defined
herein shall have the meaning assigned to such terms in the Notes.

    

    Borrower has requested, and although it
is under no obligation, Lender has agreed, to defer payment of each Installment
Amount (inclusive of interest), commencing with the Installment Amount due on
April 1, 2009, and ending with the Installment Amount due on January 1, 2010
(the “Deferred
Amounts”). On January 1, 2010, in
addition to the regular Installment Amount that is due on January 1, 2010, the
Borrower shall pay all Deferred Amounts, in full, in one lump sum
payment.  In no event shall the deferral contemplated by this
paragraph extend beyond January 1, 2010, or modify the Borrower’s obligation to
pay Installment Amounts schedule for payment before April 1, 2009 or on or after
January 1, 2010.

    

    Borrower understands and agrees that,
except as specifically provided herein, none of Lender’s rights or remedies as
set forth in the Notes or other Loan Documents are being waived or modified by
the terms of this agreement.  Furthermore, the acceptance by Lender of
any future payments to the extent they do not represent full payment of all
amounts then due for the Loans, including all accrued and unpaid interest, late
fees, attorneys’ fees and other reimbursable expenses, shall not constitute a
waiver by Lender of any default that may exist under the respective Loan
Documents.  Acceptance of a partial payment shall not operate as a
waiver of any rights or remedies Lender may have under the respective Loan
Documents.

    

    Borrower
acknowledges and agrees that, except with regard to the deferral of certain
interest and principal payments described above, all of the terms, covenants,
and conditions of the Notes and respective Loan Documents are ratified,
reaffirmed, and confirmed and shall continue in full force and
effect.  This letter agreement is not intended to be, nor shall it be
construed to be, a novation or an accord and satisfaction of any other
obligation or liability of Borrower to Lender.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    MDWerks,
Inc.

    April 16,
2009

    Page
2

    

    Borrower
further acknowledges and agrees that, as of the date hereof, there exists no
right of offset, defense, counterclaim, claim, or objection in favor of such
party as against the Lender with respect to the Loan, the Notes, the respective
Loan Documents or any other aspect of the transactions contemplated thereby, or
alternatively, that any such right of offset, defense, counterclaim, claim, or
objection is hereby expressly waived.  In connection with the
foregoing, and in consideration of Lender’s agreement hereto, by execution of
this letter agreement below, Borrower, for itself and its subsidiaries,
affiliates, shareholders, directors, officers, employees, attorneys, agents,
predecessors, successors, and assigns (the “Releasors”), hereby jointly
and severally releases, remises, and forever discharges Lender, its
subsidiaries, affiliates, shareholders, directors, officers, employees,
attorneys, agents, predecessors, successors, and assigns (the “Releasees”) from any and all
rights, claims, demands, actions, causes of action, suits, proceedings,
agreements, contracts, judgments, damages, debts, duties, liens, offsets,
liabilities, or obligations, of any kind or character, including without
limitation such claims and defenses as fraud, mistake, duress, and usury,
whether in law or in equity, known or unknown, choate or inchoate (collectively,
the “Released Claims”),
which any Releasor has had, now has, or hereafter may have, arising under or in
any manner relating to, whether directly or indirectly, the Loan, the Note, the
respective Loan Documents, or any other aspect of the transactions contemplated
thereby from the beginning of time until the date hereof. It is the express
intent of Releasors and Releasees that this release and discharge be construed
as broadly as possible in favor of Releasees so as to foreclose forever the
assertion by any of the Releasors of any Released Claims against any of the
Releasees.

    

    If you
are in agreement with the foregoing, please have this letter agreement signed by
the parties below and return one copy to me, which thereupon will constitute the
agreement with respect to its subject matter.

    

    
      
        	
                VICIS
      CAPITAL MASTER FUND

              
	 
      	 
      
	
                By:  

              	
                    /s/ Chris
      Phillips

              
	
                Name:
      Chris Phillips

              
	
                Its:    
      Managing Director

              

      

    

    

    
      
        
          	
                  BY
      EXECUTION BELOW, BORROWER ACKNOWLEDGES AND AGREES TO THE
      FOREGOING:

                
	 
      
	
                  MDWERKS,
      INC., a Delaware corporation

                
	 
      
	
                  By:  

                	
                  /s/
      David M. Barnes

                
	
                  Name:
      David Barnes

                
	
                  Its:
      President

                

        

      

    

    

    Each of
the undersigned, a guarantor of Borrower’s obligations to Lender pursuant to a
guaranty executed by the undersigned in favor of Lender, hereby (i) acknowledges
and consents to the execution, delivery, and performance by Borrower of the
foregoing letter agreement; and (ii) reaffirms and agrees that the Guaranty to
which the undersigned is party and all other documents and agreements executed
and delivered by either the undersigned or Borrower to Lender in connection with
the indebtedness represented by the Notes are all in full force and effect,
without defense, offset, or counterclaim, or alternatively, that any such right
of defense, offset or counterclaim is hereby expressly waived.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    MDWerks,
Inc.

    April 16,
2009

    Page
3

     

    GUARANTORS:

    

    XENI FINANCIAL SERVICES CORP.,
a Florida corporation

    

    
      
        
          	
                  By:

                	
                  /s/ David M. Barnes

                
	
                  Name:  

                	
                  David M. Barnes

                
	
                  Its:
      President

                

        

      

    

    

    XENI MEDICAL BILLING, CORP., a
Delaware corporation

    

    
      
        	
                By:

              	
                /s/ David M. Barnes

              
	
                Name:  

              	
                David M. Barnes

              
	
                Its:
      President

              

      

    

    

    MDWERKS GLOBAL HOLDINGS, INC.,
a Florida corporation

    

    
      
        	
                By:

              	
                /s/ David M. Barnes

              
	
                Name:  

              	
                David M. Barnes

              
	
                Its:
      President

              

      

    

    

    XENI MEDICAL SYSTEMS, INC., a
Delaware corporation

    

    
      
        	
                By:

              	
                /s/ David M. Barnes

              
	
                Name:  

              	
                David M. Barnes

              
	
                Its:
      President

              

      

    

    

    XENI
PATIENT ACCESS SOLUTIONS, INC.,

    F/K/A PATIENT PAYMENT SOLUTIONS,
INC., a Florida corporation

    

    
      
        
          	
                  By:

                	
                  /s/ David M. Barnes

                
	
                  Name:  

                	
                  David M. Barnes

                
	
                  Its:
      PresidentUnassociated Document

    
      EXHIBIT
4.7

      

      
        
          

        

      

       

      ICAHN
ENTERPRISES L.P.

       

      ICAHN
ENTERPRISES FINANCE CORP.

       

      Issuers

       

      and

       

      WILMINGTON
TRUST COMPANY

       

      Trustee

       

      
        
          
            

          

        

      

       

      INDENTURE

       

      Dated as
of _______________ ____, __________

       

      Senior
Debt Securities

       

      
        
          
 

          
            
               

            

            
               

              
                

              

            

            
               

            

          

        

      

       

      CROSS-REFERENCE
TABLE*

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	
                                      TRUST INDENTURE ACT SECTION

                                    	 
      	
                                      INDENTURE SECTION

                                    
	
                                      310(a)

                                    	
                                        (1)

                                    	 
      	
                                      7.10

                                    
	
                                      (a)

                                    	
                                        (2)

                                    	 
      	
                                      7.10

                                    
	
                                      (a)

                                    	
                                        (3)

                                    	 
      	
                                      N.A.

                                    
	
                                      (a)

                                    	
                                        (4)

                                    	 
      	
                                      N.A.

                                    
	
                                      (a)

                                    	
                                        (5)

                                    	 
      	
                                      7.10

                                    
	
                                      (b)

                                    	 
      	 
      	
                                      7.08;
      7.10

                                    
	
                                      (c)

                                    	 
      	 
      	
                                      N.A.

                                    
	
                                      311(a)

                                    	
                                       

                                    	 
      	
                                      7.11

                                    
	
                                      (b)

                                    	 
      	 
      	
                                      7.11

                                    
	
                                      (c)

                                    	 
      	 
      	
                                      N.A.

                                    
	
                                      312(a)
      

                                    	
                                       

                                    	 
      	
                                      2.06

                                    
	
                                      (b)

                                    	 
      	 
      	
                                      11.03

                                    
	
                                      (c)

                                    	 
      	 
      	
                                      11.03

                                    
	
                                      313(a)

                                    	 
      	 
      	
                                      7.06

                                    
	
                                      (b)

                                    	
                                        (1)

                                    	 
      	
                                      7.06

                                    
	
                                      (b)

                                    	
                                        (2)

                                    	 
      	
                                      7.06;
      7.07

                                    
	
                                      (c)

                                    	 
      	 
      	
                                      7.06;
      11.02

                                    
	
                                      (d)

                                    	 
      	 
      	
                                      7.06

                                    
	
                                      314(a)

                                    	 
      	 
      	
                                      4.02;
      4.03; 11.02

                                    
	
                                      (b)

                                    	 
      	 
      	
                                      N.A.

                                    
	
                                      (c)

                                    	
                                        (1)

                                    	 
      	
                                      11.04

                                    
	
                                      (c)

                                    	
                                        (2)

                                    	 
      	
                                      11.04

                                    
	
                                      (c)

                                    	
                                        (3)

                                    	 
      	
                                      N.A.

                                    
	
                                      (d)

                                    	 
      	 
      	
                                      N.A.

                                    
	
                                      (e)

                                    	 
      	 
      	
                                      11.05

                                    
	
                                      (f)

                                    	 
      	 
      	
                                      N.A.

                                    
	
                                      315(a)

                                    	 
      	 
      	
                                      7.01

                                    
	
                                      (b)

                                    	 
      	 
      	
                                      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)

                                    	 
      	 
      	
                                      9.04

                                    
	
                                      317(a)

                                    	
                                        (1)

                                    	 
      	
                                      6.08

                                    

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

       

      
        
          
            
            

          

          
            i

            
              

            

          

          
            
            

          

        

         

        
          
            
              
                
                  	
                          (a)

                        	
                            (2)

                        	 
      	
                          6.09

                        
	
                          (b)

                        	 
      	 
      	
                          2.05

                        
	
                          318(a)

                        	 
      	 
      	
                          11.01

                        
	
                          (b)

                        	 
      	 
      	
                          N.A.

                        
	
                          (c)

                        	 
      	 
      	
                          11.01

                        

                

              

            

          

        

         

        N.A.
means not applicable.

         

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

      

      

      
        
          
             

          

          
            ii

            
              

            

          

          
             

          

        

      

       

      TABLE
OF CONTENTS

      

      
        
          
            
              	 
      	 
      	
                      Page No.

                    
	
                      ARTICLE
      1 DEFINITIONS AND INCORPORATION BY REFERENCE

                    	
                      1

                    
	
                      SECTION
      1.01.

                    	
                      Definitions

                    	
                      1

                    
	
                      SECTION
      1.02.

                    	
                      Other
      Definitions

                    	
                      6

                    
	
                      SECTION
      1.03.

                    	
                      Incorporation
      by Reference of Trust Indenture Act

                    	
                      6

                    
	
                      SECTION
      1.04.

                    	
                      Rules
      of Construction

                    	
                      6

                    
	 
      	 
      	 
      
	
                      ARTICLE
      2 THE SECURITIES

                    	
                      7

                    
	
                      SECTION
      2.01.

                    	
                      Issuable
      in Series

                    	
                      7

                    
	
                      SECTION
      2.02.

                    	
                      Establishment
      of Terms of Series of Securities

                    	
                      7

                    
	
                      SECTION
      2.03.

                    	
                      Execution
      and Authentication

                    	
                      10

                    
	
                      SECTION
      2.04.

                    	
                      Registrar
      and Paying Agent

                    	
                      11

                    
	
                      SECTION
      2.05.

                    	
                      Paying
      Agent to Hold Money in Trust

                    	
                      11

                    
	
                      SECTION
      2.06.

                    	
                      Holders
      Lists

                    	
                      12

                    
	
                      SECTION
      2.07.

                    	
                      Transfer
      and Exchange

                    	
                      12

                    
	
                      SECTION
      2.08.

                    	
                      Mutilated,
      Destroyed, Lost and Stolen Securities

                    	
                      12

                    
	
                      SECTION
      2.09.

                    	
                      Outstanding
      Securities

                    	
                      13

                    
	
                      SECTION
      2.10.

                    	
                      Treasury
      Securities

                    	
                      13

                    
	
                      SECTION
      2.11.

                    	
                      Temporary
      Securities

                    	
                      14

                    
	
                      SECTION
      2.12.

                    	
                      Cancellation

                    	
                      14

                    
	
                      SECTION
      2.13.

                    	
                      Defaulted
      Interest

                    	
                      14

                    
	
                      SECTION
      2.14.

                    	
                      Global
      Securities

                    	
                      14

                    
	
                      SECTION
      2.15.

                    	
                      CUSIP
      Numbers

                    	
                      17

                    
	 
      	 
      	 
      
	
                      ARTICLE
      3 REDEMPTION AND PREPAYMENT

                    	
                      17

                    
	
                      SECTION
      3.01.

                    	
                      Notices
      to Trustee

                    	
                      17

                    
	
                      SECTION
      3.02.

                    	
                      Selection
      of Securities to be Redeemed

                    	
                      18

                    
	
                      SECTION
      3.03.

                    	
                      Notice
      of Redemption

                    	
                      18

                    
	
                      SECTION
      3.04.

                    	
                      Effect
      of Notice of Redemption

                    	
                      19

                    
	
                      SECTION
      3.05.

                    	
                      Deposit
      of Redemption Price

                    	
                      19

                    
	
                      SECTION
      3.06.

                    	
                      Securities
      Redeemed in Part

                    	
                      20

                    
	 
      	 
      	 
      
	
                      ARTICLE
      4 COVENANTS

                    	
                      20

                    
	
                      SECTION
      4.01.

                    	
                      Payment
      of Securities

                    	
                      20

                    
	
                      SECTION
      4.02.

                    	
                      Reports

                    	
                      20

                    
	
                      SECTION
      4.03.

                    	
                      Compliance
      Certificate

                    	
                      21

                    
	
                      SECTION
      4.04.

                    	
                      Corporate
      Existence

                    	
                      21

                    
	
                      SECTION
      4.05.

                    	
                      Calculation
      of Original Issue Discount

                    	
                      22

                    
	 
      	 
      	 
      
	
                      ARTICLE
      5 SUCCESSORS

                    	
                      22

                    
	
                      SECTION
      5.01.

                    	
                      Merger,
      Consolidation or Sale of Assets

                    	
                      22

                    
	 
      	 
      	 
      
	
                      ARTICLE
      6 DEFAULTS AND REMEDIES

                    	
                      23

                    
	
                      SECTION
      6.01.

                    	
                      Events
      of Default

                    	
                      23

                    
	
                      SECTION
      6.02.

                    	
                      Acceleration

                    	
                      24

                    
	
                      SECTION
      6.03.

                    	
                      Other
      Remedies

                    	
                      24

                    
	
                      SECTION
      6.04.

                    	
                      Waiver
      of Past Defaults

                    	
                      25

                    
	
                      SECTION
      6.05.

                    	
                      Control
      By Majority

                    	
                      25

                    

            

          

        

      

       

      
        
          
             

          

          
            iii

            
              

            

          

          
             

          

        

      

      

      TABLE
OF CONTENTS CONT'D

       

      
        
          
            
              	 
      	 
      	
                      Page No.

                    
	
                      SECTION
      6.06.

                    	
                      Limitation
      on Suits

                    	
                      25

                    
	
                      SECTION
      6.07.

                    	
                      Rights
      of Holders to Receive Payment

                    	
                      26

                    
	
                      SECTION
      6.08.

                    	
                      Collection
      Suit by Trustee

                    	
                      26

                    
	
                      SECTION
      6.09.

                    	
                      Trustee
      May File Proofs of Claim

                    	
                      26

                    
	
                      SECTION
      6.10.

                    	
                      Priorities

                    	
                      26

                    
	
                      SECTION
      6.11.

                    	
                      Undertaking
      For Costs

                    	
                      27

                    
	 
      	 
      	 
      
	
                      ARTICLE
      7 TRUSTEE

                    	
                      27

                    
	
                      SECTION
      7.01.

                    	
                      Duties
      of Trustee

                    	
                      27

                    
	
                      SECTION
      7.02.

                    	
                      Rights
      of Trustee

                    	
                      28

                    
	
                      SECTION
      7.03.

                    	
                      Individual
      Rights of Trustee

                    	
                      29

                    
	
                      SECTION
      7.04.

                    	
                      Trustee's
      Disclaimer

                    	
                      29

                    
	
                      SECTION
      7.05.

                    	
                      Notice
      of Defaults

                    	
                      29

                    
	
                      SECTION
      7.06.

                    	
                      Reports
      By Trustee to Holders

                    	
                      29

                    
	
                      SECTION
      7.07.

                    	
                      Compensation
      and Indemnity

                    	
                      30

                    
	
                      SECTION
      7.08.

                    	
                      Replacement
      of Trustee

                    	
                      31

                    
	
                      SECTION
      7.09.

                    	
                      Successor
      Trustee by Merger, Etc

                    	
                      32

                    
	
                      SECTION
      7.10.

                    	
                      Eligibility;
      Disqualification

                    	
                      32

                    
	
                      SECTION
      7.11.

                    	
                      Preferential
      Collection of Claims Against the Company

                    	
                      32

                    
	 
      	 
      	 
      
	
                      ARTICLE
      8 DISCHARGE; LEGAL DEFEASANCE AND COVENANT DEFEASANCE

                    	
                      32

                    
	
                      SECTION
      8.01.

                    	
                      Discharge;
      Option to Effect Legal Defeasance or Covenant Defeasance

                    	
                      32

                    
	
                      SECTION
      8.02.

                    	
                      Legal
      Defeasance and Discharge

                    	
                      33

                    
	
                      SECTION
      8.03.

                    	
                      Covenant
      Defeasance

                    	
                      34

                    
	
                      SECTION
      8.04.

                    	
                      Conditions
      to Legal or Covenant Defeasance

                    	
                      34

                    
	
                      SECTION
      8.05.

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

                    	
                      35

                    
	
                      SECTION
      8.06.

                    	
                      Repayment
      to the Company

                    	
                      36

                    
	
                      SECTION
      8.07.

                    	
                      Reinstatement

                    	
                      36

                    
	 
      	 
      	 
      
	
                      ARTICLE
      9 AMENDMENT, SUPPLEMENT AND WAIVER

                    	
                      36

                    
	
                      SECTION
      9.01.

                    	
                      Without
      Consent of Holders

                    	
                      36

                    
	
                      SECTION
      9.02.

                    	
                      With
      Consent of Holders of Securities

                    	
                      38

                    
	
                      SECTION
      9.03.

                    	
                      Compliance
      with Trust Indenture Act

                    	
                      39

                    
	
                      SECTION
      9.04.

                    	
                      Revocation
      and Effect of Consents and Waivers

                    	
                      39

                    
	
                      SECTION
      9.05.

                    	
                      Notation
      on or Exchange of Securities

                    	
                      40

                    
	
                      SECTION
      9.06.

                    	
                      Trustee
      to Sign Amendments, Etc

                    	
                      40

                    
	 
      	 
      	 
      
	
                      ARTICLE
      10 NOTE GUARANTEES

                    	
                      40

                    
	
                      SECTION
      10.01.

                    	
                      Guarantee

                    	
                      40

                    
	
                      SECTION
      10.02.

                    	
                      Limitation
      on Guarantor Liability

                    	
                      41

                    
	
                      SECTION
      10.03.

                    	
                      Execution
      and Delivery of Guarantee

                    	
                      42

                    
	 
      	 
      	 
      
	
                      ARTICLE
      11 MISCELLANEOUS

                    	
                      42

                    

            

          

        

      

      

      
        
          
             

          

          
            iv

            
              

            

          

          
             

          

        

      

      

      TABLE
OF CONTENTS CONT'D

       

      
        
          
            
              	 
      	 
      	
                      Page No.

                    
	
                      SECTION
      11.01.

                    	
                      Trust
      Indenture Act Controls

                    	
                      42

                    
	
                      SECTION
      11.02.

                    	
                      Notices

                    	
                      42

                    
	
                      SECTION
      11.03.

                    	
                      Communication
      by Holders of Securities with Other Holders of Securities

                    	
                      43

                    
	
                      SECTION
      11.04.

                    	
                      Certificate
      and Opinion as to Conditions Precedent

                    	
                      44

                    
	
                      SECTION
      11.05.

                    	
                      Statements
      Required in Certificate or Opinion......

                    	
                      44

                    
	
                      SECTION
      11.06.

                    	
                      Rules
      by Trustee, Paying Agent and Registrar

                    	
                      44

                    
	
                      SECTION
      11.07.

                    	
                      No
      Personal Liability of Directors, Officers, Employees and
      Stockholders

                    	
                      44

                    
	
                      SECTION
      11.08.

                    	
                      GOVERNING
      LAW

                    	
                      44

                    
	
                      SECTION
      11.09.

                    	
                      No
      Adverse Interpretation of Other Agreements

                    	
                      45

                    
	
                      SECTION
      11.10

                    	
                      Successors

                    	
                      45

                    
	
                      SECTION
      11.11.

                    	
                      Severability

                    	
                      45

                    
	
                      SECTION
      11.12.

                    	
                      Counterpart
      Originals

                    	
                      45

                    
	
                      SECTION
      11.13.

                    	
                      Table
      of Contents, Headings, Etc

                    	
                      45

                    

            

          

        

      

    

    
      

      
        
          
             

          

          
            v

            
              

            

          

          
             

          

        

      

      

      INDENTURE
dated as of [__], [__] between Icahn Enterprises L.P., a Delaware limited
partnership ("Icahn Enterprises ") Icahn Enterprises Finance Corp., a Delaware
corporation ("Icahn Enterprises Finance" and together with Icahn Enterprises,
the "Company"), and Wilmington Trust Company, as trustee (the
"Trustee").

       

      The
Company and the Trustee agree as follows for the benefit of each other and for
the equal and ratable benefit of the Holders of the Securities issued under this
Indenture (the "Securities"):

       

      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" (including,
with correlative meanings, the terms "controlling," "controlled by" and "under
common control with"), 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.

       

      "Agent"
means any Registrar, Paying Agent or co-registrar.

       

      "Bankruptcy
Law" means Title 11 of the United States Code, as amended, or any similar
federal, state or foreign law for the relief of debtors.

       

      "Board of
Directors" means, with respect to any Person, the board of directors or
comparable governing body of such Person.

       

      "Board
Resolution" means a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Company to have been adopted by the Board of
Directors or pursuant to authorization by the Board of Directors and to be in
full force and effect on the date of the certificate and delivered to the
Trustee.

       

      "Business
Day" means any day other than a Legal Holiday.

       

      "Capital
Stock" of any Person means any and all shares, interests, rights to purchase,
warrants, options, participations or other equivalents of or interests in
(however designated) equity of such Person, including any preferred stock, but
excluding any debt securities convertible into such equity.

      

      
        
          
             

          

          
            1

            
              

            

          

          
             

          

        

      

    

    

    "Clearstream"
means Clearstream Banking, Societe Anonyme, Luxembourg.

     

    "Commission"
or "SEC" means the Securities and Exchange Commission.

     

    "Company"
means, collectively Icahn Enterprises and Icahn Enterprises Finance, and any and
all successors thereto.

     

    "Company
Order" means a written order signed in the name of the Company by two Officers,
one of whom must be the Company's principal executive officer, principal
financial officer or principal accounting officer.

     

    "Control"
means the possession, directly or indirectly, of the power to direct or cause
the direction of management and policies of a Person, whether through the
ownership of Voting Stock, by agreement or otherwise.

     

    "Corporate
Trust Office of the Trustee" shall be at the address of the Trustee specified in
Section 10.02 or such other address as to which the Trustee may give notice to
the Company.

     

    "Custodian"
means the Trustee, as custodian with respect to the Securities in global form,
or any successor entity thereto.

     

    "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.

     

    "Definitive
Security" means a certificated Security registered in the name of the Holder
thereof and issued in accordance with Section 2.07.

     

    "Depositary"
means, with respect to the Securities issuable or issued in whole or in part in
global form, the Person specified in Section 2.14 as the Depositary with respect
to the Securities, and any and all successors thereto appointed as depositary
hereunder and having become such pursuant to the applicable provision of this
Indenture.

     

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

     

    "Euroclear"
means the Euroclear System.

     

    "Exchange
Act" means the Securities Exchange Act of 1934, as amended.

     

    "Foreign
Currency" means any currency or currency unit issued by a government other than
the government of The United States of America.

     

    "GAAP"
means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board, the Commission or in such other statements by such
other entity as may be approved by a significant segment of the accounting
profession of the United States, which are in effect from time to
time; provided, however, that all reports and other financial information
provided by the Company to the Holders of the Securities, the Trustee and/or the
Commission shall be prepared in accordance with GAAP, as in effect on the date
of such report or other financial information.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    "Global
Security" when used with respect to any Series of Securities issued hereunder,
means a Security which is executed by the Company and authenticated and
delivered by the Trustee to the Depositary or pursuant to the Depositary's
instruction, all in accordance with this Indenture and an indenture supplemental
hereto, if any, or Board Resolution and pursuant to a Company Order, which shall
be registered in the name of the Depositary or its nominee and which shall
represent, and shall be denominated in an amount equal to the aggregate
principal amount of, all the outstanding Securities of such Series or any
portion thereof, in either case having the same terms, including, without
limitation, the same original issue date, date or dates on which principal and
interest are due, and interest rate or method of determining interest and which
shall bear the legend as prescribed by Section 2.14(c).

     

    "Global
Security Legend" means the legend set forth in Section 2.14.(c), which is
required to be placed on all Global Securities issued under this
Indenture.

     

    "Government
Securities" means direct obligations of, or obligations guaranteed by, the
United States of America for the payment of which guarantee or obligations the
full faith and credit of the United States is pledged.

     

    "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 (whether arising by virtue of partnership arrangements,
or by agreements to keep-well, to purchase assets, goods, securities or
services, to take or pay or to maintain financial statement conditions or
otherwise).

     

    "Guarantor"
means Icahn Enterprises in the event that Icahn Enterprises executes a Guarantee
in accordance with the provisions of this Indenture, and its successors and
assigns, in each case, until the Guarantee has been released in accordance with
the provisions of this Indenture.

     

    "Holder"
means a Person in whose name a Security is registered on the Registrar's
books.

     

    " Icahn
Enterprises " means Icahn Enterprises L.P. (and not any of its
subsidiaries).

     

    " Icahn
Enterprises Finance" means Icahn Enterprises Finance Corp.

     

    "Indebtedness"
has the meaning specified in the applicable Board Resolution, supplemental
indenture or Officers' Certificate relating to a particular Series of
Securities.

     

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

     

    "Interest
Payment Date" when used with respect to any Series of Securities, means the date
specified in such Securities for the payment of any installment of interest on
those Securities.

     

    "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.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

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

     

    "Offering"
means the offering of the Securities by the Company.

     

    "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 by two Officers
of the Company, one of whom must be the principal executive officer, the
principal financial officer or the principal accounting officer of the Company,
delivered to the Trustee that meets the requirements of Section
10.05.

     

    "Opinion
of Counsel" means a written opinion from legal counsel that meets the
requirements of Section 10.05. The counsel may be an employee of or counsel to
the Company, any Subsidiary of the Company, any of their respective
Affliliates, or the Trustee.

     

    "Original
Issue Discount Security" means any Security that provides for an amount less
than the stated principal amount thereof to be due and payable upon declaration
of acceleration of the maturity thereof pursuant to Section 6.02.

     

    "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 the Depositary Trust Company, shall include Euroclear and
Clearstream).

     

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

     

    "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) or any other officer of the Trustee customarily performing functions
similar to those performed by any of the above designated officers and also
means, with respect to a particular corporate trust matter, any other officer to
whom such matter is referred because of his knowledge of and familiarity with
the particular subject.

     

    "Securities"
has the meaning assigned to it in the preamble to this Indenture.

     

    "Securities
Act" means the Securities Act of 1933, as amended.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    "Series"
or "Series of Securities" means each series of debentures, notes or other debt
instruments of the Company created pursuant to Sections 2.01 and
2.02.

     

    "Significant
Subsidiary" means any Subsidiary which would be a "significant subsidiary" as
defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the
Securities Act of 1933, as amended.

     

    "Stated
Maturity" when used with respect to any Security, means the date specified in
such Security as the fixed date on which an amount equal to the principal amount
of such Security is due and payable.

     

    "Subsidiary"
means, with respect to any specified Person:

     

    (1) any
corporation, association or other business entity of which more than 50% of the
total Voting Stock is at the time owned or Controlled, directly or indirectly,
by that Person or one or more of the other Subsidiaries of that Person (or a
combination thereof); and

     

    (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 that Person or one or more Subsidiaries of
that Person (or any combination thereof).

     

    "TIA"
means the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) as in
effect on the date on which this Indenture is qualified under the
TIA.

     

    "Trustee"
means the party named as such above until a successor replaces it in accordance
with the applicable provisions of this Indenture and thereafter means the
successor serving hereunder.

     

    "Voting
Stock" means, with respect to any Person that is (a) a corporation, any class or
series of capital stock of such Person that is ordinarily entitled to vote in
the election of directors thereof at a meeting of stockholders called for such
purpose, without the occurrence of any additional event or
contingency,

     

    (b) a
limited liability company, membership interests entitled to manage, or to elect
or appoint the Persons that will manage the operations or business of the
limited liability company, or (c) a partnership, partnership interests entitled
to elect or replace the general partner thereof.

     

    "Wholly
Owned Subsidiary" of a Person means a subsidiary of such person all of the
outstanding Capital Stock or other ownership interests of which (other than
directors' qualifying shares) shall at the time be owned by such Person or by
one or more Wholly Owned Subsidiaries of such Person or by such Person and one
or more Wholly Owned Subsidiaries of such Person.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    

    SECTION
1.02. Other Definitions.

    

    
      
        
          
            
              
                
                  
                    
                      	
                               

                            	 	
                              Defined
      in

                            	 
	
                              Term

                            	 	
                              Section

                            	 
	
                              "Covenant
      Defeasance"

                            	 	 	8.03	 
	
                              "Event
      of Default"

                            	 	 	6.01	 
	
                              "Legal
      Defeasance"

                            	 	 	8.02	 
	
                              "notice
      of acceleration"

                            	 	 	6.02	 
	
                              "Paying
      Agent"

                            	 	 	2.04	 
	
                              "Registrar"

                            	 	 	2.04	 
	
                              "Service Agent"

                            	 	 	2.04	 
	
                              "Transfer"

                            	 	 	5.01	 

                    

                  

                

              

            

          

        

      

    

     

    SECTION
1.03. Incorporation by Reference of Trust Indenture Act.

     

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

     

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

     

    "Indenture
Securities" means the Securities;

     

    "Indenture
Security Holder" means a Holder of a Security;

     

    "Indenture
to be Qualified" means this Indenture;

     

    "Indenture
Trustee" or "Institutional Trustee" means the Trustee; and

     

    "Obligor"
on the Securities means the Company and any successor obligor upon the
Securities.

     

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

     

    SECTION
1.04. Rules of Construction.

     

    Unless
the context otherwise requires:

     

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

     

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

     

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

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (d)
provisions apply to successive events and transactions; and

     

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

     

    ARTICLE
2

     

    THE
SECURITIES

     

    SECTION
2.01. Issuable in Series. The aggregate principal amount of Securities that may
be authenticated and delivered under this Indenture is unlimited. The Securities
may be issued in one or more Series. All Securities of a Series shall be
identical except as may be set forth in a Board Resolution, a supplemental
indenture or an Officers' Certificate detailing the adoption of the terms
thereof pursuant to the authority granted under a Board Resolution. In the case
of Securities of a Series to be issued from time to time, the Board Resolution,
Officers' Certificate or supplemental indenture may provide for the method by
which specified terms (such as interest rate, maturity date, record date or date
from which interest shall accrue) are to be determined. Securities may differ
between Series in respect of any matters.

     

    SECTION
2.02. Establishment of Terms of Series of Securities. At or prior to the
issuance of any Securities within a Series, the following shall be established
(as to the Series generally, in the case of Subsection 2.02(a) and either as to
such Securities within the Series or as to the Series generally in the case of
Subsections 2.02(b) through 2.02(x)) by a Board Resolution, a supplemental
indenture or an Officers' Certificate pursuant to authority granted under a
Board Resolution:

     

    (a) the
title of the Securities of the Series (which shall distinguish the Securities of
that particular Series from the Securities of any 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 registration of transfer of, or in exchange
for, or in lieu of, other Securities of the Series);

     

    (c) the
date or dates on which the principal and premium, if any, of the Securities of
the Series are payable;

     

    (d) the
rate or rates (which may be fixed or variable) at which the Securities of the
Series shall bear interest, if any, or the method of determining such rate or
rates, the date or dates from which such interest, if any, shall accrue, the
Interest Payment Dates on which such interest, if any, shall be payable or the
method by which the Interest Payment Dates will be determined, the record dates
for the determination of Holders thereof to whom interest is payable (in the
case of Securities in registered form), and the basis upon which such interest
will be calculated if other than that of a 360-day year of twelve 30-day
months;

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    (e) the
currency or currencies, including composite currencies, in which Securities of
the Series shall be denominated, if other than Dollars, the place or places, if
any, in addition to or instead of the Corporate Trust Office of the Trustee (in
the case of Securities in registered form) or the principal New York office of
the Trustee (in the case of Securities in bearer form), where the principal,
premium, if any, and interest with respect to Securities of such Series shall be
payable or the method of such payment, if by wire transfer, mail or other
means;

     

    (f) the
price or prices at which, the period or periods within 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 Company or otherwise;

     

    (g)
whether Securities of the Series are to be issued in registered form or bearer
form or both and, if Securities are to be issued in bearer form, whether coupons
will be attached to them, whether Securities of the Series in bearer form may be
exchanged for Securities of the Series in registered form, and the circumstances
under which and the places at which any such exchanges, if permitted, may be
made;

     

    (h) if
any Securities of the Series are to be issued in bearer form or as one or more
Global Securities representing individual Securities of the Series in bearer
form, whether certain provisions for the payment of additional interest or tax
redemptions shall apply; whether interest with respect to any portion of a
temporary Security of the Series in bearer form payable with respect to any
Interest Payment Date prior to the exchange of such temporary Security in bearer
form for definitive Securities of the Series in bearer form shall be paid to any
clearing organization with respect to the portion of such temporary Security in
bearer form held for its account and, in such event, the terms and conditions
(including any certification requirements) upon which any such interest payment
received by a clearing organization will be credited to the Person entitled to
interest payable on such Interest Payment Date; and the terms upon which a
temporary Security in bearer form may be exchanged for one or more definitive
Securities of the Series in bearer form;

     

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

     

    (j) the
terms, if any, upon which the Securities of the Series may be convertible into
or exchanged for any of the Company's common stock, preferred stock, other
securities or warrants to purchase the Company's common stock, preferred stock
or other securities and the terms and conditions upon which such conversion or
exchange shall be effected, including the initial conversion or exchange price
or rate, the conversion or exchange period and any other additional
provisions;

     

    (k) if
other than denominations of one thousand U.S. dollars ($1,000) or any integral
multiple thereof, the denominations in which the Securities of the Series shall
be issuable;

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    (l) if
the amount of principal, premium, if any, or interest with respect to the
Securities of the Series may be determined with reference to an index or
pursuant to a formula, the manner in which such amounts will be
determined;

     

    (m) if
the principal amount payable at the Stated Maturity of Securities of the Series
will not be determinable as of any one or more dates prior to such Stated
Maturity, the amount that will be deemed to be such principal amount as of any
such date for any purpose, including the principal amount thereof which will be
due and payable upon any Maturity other than the Stated Maturity and which will
be deemed to be outstanding as of any such date (or, in any such case, the
manner in which such deemed principal amount is to be determined), and, if
necessary, the manner of determining the equivalent thereof in
Dollars;

     

    (n) the
applicability of, if any, and any changes or additions to Article
8;

     

    (o) if
other than the principal amount thereof, the portion of the principal amount of
the Securities of the Series that shall be payable upon declaration of
acceleration of the maturity thereof pursuant to Section 6.02;

     

    (p) the
terms, if any, of the transfer, mortgage, pledge or assignment as security for
the Securities of the Series of any properties, assets, moneys, proceeds,
securities or other collateral, including whether certain provisions of the TIA
are applicable and any corresponding changes to provisions of this Indenture as
then in effect;

     

    (q) any
addition to or change in the Events of Default which applies to any Securities
of the Series and any change in the right of the Trustee or the requisite
Holders of such Series of Securities to declare the principal, premium, if any,
and interest on such Series of Securities due and payable pursuant to Section
6.02;

     

    (r) if
the Securities of the Series shall be issued in whole or in part in the form of
a Global Security, the terms and conditions, if any, upon which such Global
Security may be exchanged in whole or in part for other individual Definitive
Securities of such Series, the Depositary for such Global Security and the form
of any legend or legends to be borne by any such Global Security in addition to
or in lieu of the Global Securities Legend;

     

    (s) any
Trustee, authenticating agent, Paying Agent, transfer agent, Service Agent or
Registrar;

     

    (t) the
applicability of, and any addition to or change in, the covenants (and the
related definitions) set forth in Articles 4 or 5 which applies to the
Securities of the Series;

     

    (u) with
regard to Securities of the Series that do not bear interest, the dates for
certain required reports to the Trustee;

     

    (v) any
United Stated Federal income tax consequences applicable to the
Securities;

     

    (w) the
terms applicable to Original Issue Discount Securities, including the rate or
rates at which original issue discount will accrue; and

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    (x) any
other terms of Securities of the Series (which terms shall not be inconsistent
with the provisions of this Indenture, except as permitted by Section
9.01, but which may modify or delete any provision of this Indenture insofar as
it applies to such Series).

     

    All
Securities of any one Series need not be issued at the same time and may be
issued from time to time, consistent with the terms of this Indenture, if so
provided by or pursuant to the Board Resolution, supplemental indenture or
Officers' Certificate referred to above, and the authorized principal amount of
any Series may not be increased to provide for issuances of additional
Securities of such Series, unless otherwise provided in such Board Resolution,
supplemental indenture or Officers' Certificate.

     

    SECTION
2.03. Execution and Authentication. One Officer shall sign the Securities for
the Company by manual or facsimile signature. If an Officer whose signature is
on a Security no longer holds that office at the time the Security is
authenticated, the Security shall nevertheless be valid. A Security shall not be
valid until authenticated by the manual signature of the Trustee or an
authenticating agent. The signature shall be conclusive evidence that the
Security has been authenticated under this Indenture.

     

    The
Trustee shall at any time, and from time to time, authenticate Securities for
original issue in the principal amount provided in the Board Resolution,
supplemental indenture or Officers' Certificate, upon receipt by the Trustee of
a Company Order. Such Company Order may authorize authentication and delivery
pursuant to oral or electronic instructions from the Company or its duly
authorized agent or agents, which oral instructions shall be promptly confirmed
in writing. Each Security shall be dated the date of its authentication unless
otherwise provided by a Board Resolution, supplemental indenture or Officers'
Certificate.

     

    The
aggregate principal amount of Securities of any Series outstanding at any time
may not exceed any limit upon the maximum principal amount for such Series set
forth in the Board Resolution, supplemental indenture or Officers' Certificate
delivered pursuant to Section 2.02, except as provided in Section
2.08.

     

    Prior to
the issuance of Securities of any Series, the Trustee shall have received and
(subject to Section 7.02) shall be fully protected in relying on:

     

    (a) the
Board Resolution, supplemental indenture or Officers' Certificate establishing
the form of the Securities of that Series or of Securities within that Series
and the terms of the Securities of that Series or Securities within that Series;
(b) an Officers' Certificate complying with Section 10.05; and (c) an Opinion of
Counsel complying with Section 10.05.

     

    The
Trustee shall have the right to decline to authenticate and deliver any
Securities of such Series: (a) if the Trustee, being advised by counsel,
determines that such action may not lawfully be taken; or (b) if the Trustee in
good faith by its board of directors or trustees, executive committee or a trust
committee of directors and/or vice-presidents shall determine that such action
would expose the Trustee to personal liability to Holders of any then
outstanding Series of Securities.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

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

     

    SECTION
2.04. Registrar and Paying Agent. The Company shall maintain, with respect to
each Series of Securities, at the place or places specified with respect to such
Series pursuant to Section 2.02, an office or agency where Securities of such
Series may be presented or surrendered for payment ("Paying Agent"), where
Securities of such Series may be presented for registration of transfer or for
exchange ("Registrar") and where notices and demands to or upon the Company in
respect of the Securities of such Series and this Indenture may be served
("Service Agent"). The Registrar shall keep a register with respect to each
Series of Securities and to their transfer and exchange. The Company will give
prompt written notice to the Trustee of the name and address, and any change in
the name and address, of each Registrar, Paying Agent or Service Agent. If at
any time the Company shall fail to maintain any such required Registrar, Paying
Agent or Service Agent or shall fail to furnish the Trustee with the name and
address thereof, such presentations, surrenders, notices and demands may be made
or served at the Corporate Trust Office of the Trustee, and the Company hereby
appoints the Trustee as its agent to receive all such presentations, surrenders,
notices and demands.

     

    The
Company may also from time to time designate one or more co-registrars,
additional paying agents or additional services agents and may from time to time
rescind such designations; provided, however, that no such designation or
rescission shall in any manner relieve the Company of its obligations to
maintain a Registrar, Paying Agent and Service Agent in each place so specified
pursuant to Section 2.02 for Securities of any Series for such purposes. The
Company will give prompt written notice to the Trustee of any such designation
or rescission and of any change in the name or address of any such co-registrar,
additional paying agent or additional service agent. The term "Registrar"
includes any co-registrar, the term "Paying Agent" includes any additional
paying agent; and the term "Service Agent" includes any additional service
agent.

     

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

     

    SECTION
2.05. Paying Agent to Hold Money in Trust. The Company shall require each Paying
Agent, other than the Trustee, to agree in writing that the Paying Agent will
hold in trust, for the benefit of Holders of any Series of Securities, or the
Trustee, all money held by the Paying Agent for the payment of principal of or
interest on the Series of Securities, and will notify the Trustee of any default
by the Company 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 Company 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 the Holders of any
Series of Securities all money held by it as Paying Agent. Upon any bankruptcy
or reorganization proceedings relating to the Company, the Trustee shall serve
as Paying Agent for the Securities.

     

    
      
        
        

      

      
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    SECTION
2.06. Holders 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 of each Series of Securities and shall otherwise comply
with TIA Section 312(a). If the Trustee is not the Registrar, the Company shall
furnish to the Trustee at least seven Business Days before each Interest Payment
Date and at such other times as the Trustee may request in writing, a list in
such form and as of such date as the Trustee may reasonably require of the names
and addresses of the Holders of each Series of Securities and the Company shall
otherwise comply with TIA Section 312(a).

     

    SECTION
2.07. Transfer and Exchange. When Securities of a Series are presented to the
Registrar or a co-registrar with a request to register a transfer or to exchange
them for an equal principal amount of Securities of the same Series, the
Registrar shall register the transfer or make the exchange if its requirements
for such transactions are met. To permit registrations of transfers and
exchanges, the Trustee shall authenticate Securities at the Registrar's request.
No service charge shall be made for any registration of transfer or exchange
(except as otherwise expressly permitted herein), but the Company may require
payment of a sum sufficient to cover any transfer tax or similar governmental
charge payable in connection therewith (other than any such transfer taxes or
similar governmental charge payable upon exchange or transfer pursuant to
Sections 2.11, 3.06, or 9.05).

     

    Neither
the Company nor the Registrar shall be required (a) to issue, register the
transfer of, or exchange Securities of any Series for the period beginning at
the opening of business fifteen days immediately preceding the mailing of a
notice of redemption of Securities of that Series selected for redemption and
ending at the close of business on the day of such mailing or (b) to register
the transfer or exchange of any Security of any Series selected, called or being
called for redemption as a whole or the portion being redeemed of any such
Securities selected, called or being called for redemption in part.

     

    SECTION
2.08. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated
Security is surrendered to the Trustee, the Company shall execute and the
Trustee shall authenticate and deliver in exchange therefor a new Security of
the same Series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding. If there shall be delivered to the Company and
the Trustee (i) evidence to their satisfaction of the destruction, loss or theft
of any Security and (ii) such security or indemnity as may be required by them
to save each of them and any agent of either of them harmless, then, in the
absence of notice to the Company or the Trustee that such Security has been
acquired by a bona fide purchaser, the Company shall execute and upon its
request the Trustee shall authenticate and make available for delivery, in lieu
of any such destroyed, lost or stolen Security, a new Security of the same
Series and of like tenor and principal amount and bearing a number not
contemporaneously outstanding.

     

    
      
        
        

      

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

     

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

     

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

     

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

     

    SECTION
2.09. Outstanding Securities. The Securities outstanding at any time are all the
Securities authenticated by the Trustee except for those canceled by it, those
delivered to it for cancellation, those reductions in the interest in a Global
Security effected by the Trustee in accordance with the provisions hereof, and
those described in this Section 2.09 as not outstanding. A Security does not
cease to be outstanding because the Company or an Affiliate of the Company holds
the Security.

     

    If a
Security is replaced pursuant to Section 2.08, it ceases to be outstanding
unless the Trustee receives proof satisfactory to it that the replaced Security
is held by a bona fide purchaser.

     

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

     

    In
determining whether the Holders of the requisite principal amount of outstanding
Securities have given any request, demand, authorization, direction, notice,
consent or waiver hereunder, the principal amount of an Original Issue Discount
Security that shall be deemed to be outstanding for such purposes shall be the
amount of the principal thereof that would be due and payable as of the date of
such determination upon a declaration of acceleration of the Maturity thereof
pursuant to Section 6.02.

     

    SECTION
2.10. Treasury Securities. In determining whether the Holders of the required
principal amount of Securities of a Series have concurred in any request,
demand, authorization, notice, direction, waiver or consent, Securities of a
Series owned by the Company or an Affiliate shall be disregarded, except that
for the purposes of determining whether the Trustee
shall be protected in relying on any such request, demand, authorization,
notice, direction, waiver or consent, only Securities of a Series that the
Trustee knows are so owned shall be disregarded.

     

    
      
        
        

      

      
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    SECTION
2.11. Temporary Securities. Until Definitive Securities are ready for delivery,
the Company may prepare and the Trustee shall authenticate temporary Securities
upon a Company Order. Temporary Securities shall be substantially in the form of
Definitive Securities but may have variations that the Company considers
appropriate for temporary Securities. Without unreasonable delay, the Company
shall prepare and the Trustee shall authenticate Definitive Securities of the
same Series and date of maturity in exchange for temporary Securities. Until so
exchanged, temporary Securities shall be entitled to the same rights under this
Indenture as the Definitive Securities.

     

    SECTION
2.12. Cancellation. The Company at any time may deliver Securities to the
Trustee for cancellation. The Registrar and Paying Agent shall forward to the
Trustee any Securities surrendered to them for registration of transfer,
exchange or payment. The Trustee shall cancel all Securities surrendered for
registration of transfer, exchange, payment, replacement or cancellation and
shall destroy canceled Securities (subject to the record retention requirement
of the Exchange Act). Certification of the destruction of all canceled
Securities shall be delivered to the Company. The Company may not issue new
Securities to replace Securities that it has paid or that have been delivered to
the Trustee for cancellation.

     

    SECTION
2.13. Defaulted Interest. If the Company defaults in a payment of interest on a
Series of Securities, it shall pay the defaulted interest in any lawful manner
plus, to the extent lawful, any interest payable on the defaulted interest, to
the Persons who are Holders of the Series on a subsequent special record date.
The Company shall fix each such special record date and payment date. At least
15 days before the special record date, the Company (or upon the written request
of the Company, the Trustee, in the name and at the expense of the Company)
shall mail or cause to be mailed to Holders of the Series a notice that states
the special record date, the related payment date and the amount of such
interest to be paid. The Company may pay defaulted interest in any other lawful
manner.

     

    SECTION
2.14. Global Securities.

     

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

     

    (b)
Transfer and Exchange. Notwithstanding any provisions to the contrary contained
in Section 2.07 and in addition thereto, any Global Security shall be
exchangeable pursuant to Section 2.07 for Securities registered in the names of
Holders other than the Depositary for such Security or its nominee only
if:

     

    (i) such
Depositary notifies the Company that it is unwilling or unable to continue as
Depositary for such Global Security or if at any time such Depositary ceases
to be a
clearing agency registered under the Exchange Act, and in either case, the
Company fails to appoint a successor Depositary within 90 days of such
event;

     

    
      
        
        

      

      
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    (ii) the
Company executes and delivers to the Trustee an Officers' Certificate to the
effect that such Global Security shall be so exchangeable; or

     

    (iii) an
Event of Default with respect to the Securities represented by such Global
Security shall have happened and be continuing. Any Global Security that is
exchangeable pursuant to the preceding sentence shall be exchangeable for
Securities registered in such names as the Depositary shall direct in writing in
an aggregate principal amount equal to the principal amount of the Global
Security with like tenor and terms.

     

    Except as
provided in this Section 2.14(b), a Global Security may not be transferred
except as a whole by the Depositary with respect to such Global Security to a
nominee of such Depositary, by a nominee of such Depositary to such Depositary
or another nominee of such Depositary or by the Depositary or any such nominee
to a successor Depositary or a nominee of such a successor
Depositary.

     

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

     

    "THIS
GLOBAL SECURITY IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
THIS SECURITY) 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 (I) THIS GLOBAL SECURITY MAY BE EXCHANGED IN WHOLE BUT NOT IN PART
PURSUANT TO SECTION 2.07 OF
THE INDENTURE, (II) THIS GLOBAL SECURITY MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE AND (III) THIS GLOBAL
SECURITY MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN
CONSENT OF ICAHN ENTERPRISES L.P."

     

    (d) Acts
of Holders.

     

    (i) Any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders may be
embodied in and evidenced by one or more instruments of substantially similar
tenor signed by such Holders in person or by an agent duly appointed in writing;
and, except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments are delivered to the Trustee and,
where it is hereby expressly required, to the Company. Such instrument or
instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the "Act" of Holders signing such
instrument or instruments. Proof of execution of any such instrument or of a
writing appointing any such agent shall be sufficient for any purpose of this
Indenture and conclusive in favor of the Trustee and the Company, if made in the
manner provided in this Section.

     

    
      
        
        

      

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

     

    (iii) The
ownership of bearer securities may be proved by the production of such bearer
securities or by a certificate executed by any trust company, bank, banker or
other depositary, wherever situated, if such certificate shall be deemed by the
Trustee to be satisfactory, showing that at the date therein mentioned such
Person had on deposit with such depositary, or exhibited to it, the bearer
securities therein described; or such facts may be proved by the certificate or
affidavit of the Person holding such bearer securities, if such certificate or
affidavit is deemed by the Trustee to be satisfactory. The Trustee and the
Company may assume that such ownership of any bearer security continues until
(A) another such certificate or affidavit bearing a later date issued in respect
of the same bearer security is produced, (B) such bearer security is produced to
the Trustee by some other Person, (C) such bearer security is surrendered in
exchange for a registered security or (D) such bearer security is no longer
outstanding. The ownership of bearer securities may also be proved in any other
manner which the Trustee deems sufficient.

     

    (iv) The
ownership of registered securities shall be proved by the register maintained by
the Registrar.

     

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

     

    (vi) If
the Company shall solicit from the Holders any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Company may, at its option,
by or pursuant to a Board Resolution, fix in advance a record date for the
determination of Holders entitled to give such request, demand, authorization,
direction, notice, consent, waiver or other Act, but the Company shall have no
obligation to do so if such a
record date is fixed, such request, demand, authorization, direction, notice,
consent, waiver or other Act may be given before or after such record date, but
only the Holders of record at the close of business on such record date shall be
deemed to be Holders for the purposes of determining whether Holders of the
requisite proportion of outstanding Securities have authorized or agreed or
consented to such request, demand, authorization, direction, notice, consent,
waiver or other Act, and for that purpose the outstanding Securities shall be
computed as of such record date; provided that no such authorization, agreement
or consent by the Holders on such record date shall be deemed effective unless
it shall become effective pursuant to the provisions of this Indenture not later
than six months after the record date.

     

    
      
        
        

      

      
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    (e)
Payments. Notwithstanding the other provisions of this Indenture, unless
otherwise specified as contemplated by Section 2.02, payment of the principal of
and interest, if any, on any Global Security shall be made to the Holder
thereof.

     

    (f)
Consents, Declaration and Directions. Except as provided in Section 2.14(e), the
Company, the Trustee and any Agent shall treat a person as the Holder of such
principal amount of outstanding Securities of such Series represented by a
Global Security as shall be specified in a written statement of the Depositary
with respect to such Global Security, for purposes of obtaining any consents,
declarations, waivers or directions required to be given by the Holders pursuant
to this Indenture.

     

    SECTION
2.15. CUSIP Numbers. The Company in issuing the Securities 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 Securities or as contained in any notice
of a redemption and that reliance may be placed only on the other elements of
identification printed on the Securities, and any such redemption shall not be
affected by any defect in or omission of such numbers. The Company shall
promptly notify the Trustee of any change in CUSIP Numbers.

     

    ARTICLE
3

     

    REDEMPTION
AND PREPAYMENT

     

    SECTION
3.01. Notices to Trustee. The Company may, with respect to any Series of
Securities, reserve the right to redeem and pay the Series of Securities or may
covenant to redeem and pay the Series of Securities or any part thereof prior to
the Stated Maturity thereof at such time and on such terms as provided for in
such Series of Securities. If a Series of Securities is redeemable and the
Company wants or is obligated to redeem prior to the Stated Maturity thereof all
or part of the Series of Securities pursuant to the terms of such Securities, it
shall notify the Trustee of the redemption date and the principal amount of
Securities of the Series to be redeemed and the redemption price. The Company
shall give such notice to the Trustee at least 30 but no more than 60 days
before the redemption date (or such shorter notice as may be acceptable to the
Trustee).

     

    
      
        
        

      

      
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    SECTION
3.02. Selection of Securities to be Redeemed. Unless otherwise indicated for a
particular Series by a Board Resolution, supplemental indenture or an Officers'
Certificate, if less than all of the Securities are to be redeemed or purchased
in an offer to purchase at any time, the Trustee shall select the Securities to
be redeemed or purchased as follows: (a) if the Securities are listed on any
national securities exchange, in compliance with the requirements of the
principal national securities exchange, if any, on which the Securities are
listed; or (b) if the Securities are not listed on a national securities
exchange, on a pro rata basis, by lot or in accordance with any other method as
the Trustee considers fair and appropriate. No Securities of $1,000 principal
amount or less will be redeemed in part. Except as provided in the preceding
sentence, provisions of this Indenture that apply to Securities called for
redemption also apply to portions of Securities called for redemption. The
Trustee shall make the selection at least 25 but not more than 60 days before
the redemption date from outstanding Securities of a Series previously called
for redemption.

     

    If any
Security is to be redeemed in part only, the notice of redemption that relates
to such Security shall state the portion of the principal amount of that
Security to be redeemed. A new Security in principal amount equal to the
unredeemed portion of the original Security presented for redemption will be
issued in the name of the Holder thereof upon cancellation of the original
Security. Securities called for redemption become due on the date fixed for
redemption. On and after the redemption date, interest ceases to accrue or
accrete on Securities or portions of them called for redemption.

     

    SECTION
3.03. Notice of Redemption. Unless otherwise provided for a particular Series of
Securities by a Board Resolution, a supplemental indenture or an Officers'
Certificate, at least 30 days but not more than 60 days before a redemption
date, the Company shall mail or cause to be mailed, by first class mail, a
notice of redemption to each Holder whose Securities are to be redeemed at its
registered address.

     

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

     

    (a) the
redemption date;

     

    (b) the
Redemption Price (as defined in the Indenture for the Series of
Securities);

     

    (c) if
any Security is being redeemed in part, the portion of the principal amount of
such Security to be redeemed and that, after the redemption date upon surrender
of such Security, a new Security or Securities in principal amount equal to the
unredeemed portion shall be issued upon cancellation of the original
Security;

     

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

     

    (e) that
Securities called for redemption must be surrendered to the Paying Agent to
collect the redemption price;

     

    (f) that,
unless the Company defaults in making such redemption payment or the Paying
Agent is prohibited from making such payment pursuant to the terms of this
Indenture, interest on the Securities called for redemption ceases to accrue on
and after the redemption date;

     

    
      
        
        

      

      
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    (g) the
paragraph of the Securities and/or provision of this Indenture or any
supplemental indenture or Board Resolution pursuant to which the Securities
called for redemption are being redeemed;

     

    (h) the
CUSIP number, if any, printed on the Securities being redeemed; and

     

    (i) that
no representation is made as to the correctness or accuracy of the CUSIP number,
if any, listed in such notice or printed on the Securities.

     

    At the
Company's request, the Trustee shall give the notice of redemption in the
Company's name and at its expense; provided, however, that the Company shall
have delivered to the Trustee, at least 45 days prior to the redemption date (or
such shorter period as shall be acceptable to the Trustee), an Officers'
Certificate requesting that the Trustee give such notice and setting forth the
information to be stated in such notice as provided in the preceding
paragraph.

     

    SECTION
3.04. Effect of Notice of Redemption. Once notice of redemption is mailed in
accordance with Section 3.03, Securities called for redemption become
irrevocably due and payable on the redemption date at the redemption price, plus
accrued and unpaid interest to such date. A notice of redemption may not be
conditional. Failure to give notice or any defect in the notice to the Holder of
any Security shall not affect the validity of the notice to any other
Holder.

     

    SECTION
3.05. Deposit of Redemption Price. On or before 12:00 p.m. (New York City time)
on the redemption date, the Company shall deposit with the Trustee or with the
Paying Agent (or if the Company or any Subsidiary is the Paying Agent, shall
segregate and hold in trust) money sufficient to pay the redemption price, of
and accrued interest on, all Securities to be redeemed on that date, other than
Securities or portions of Securities called for redemption that have been
delivered to the Trustee for cancellation. The Trustee or the Paying Agent shall
as promptly as practicable return to the Company any money deposited with the
Trustee or the Paying Agent by the Company in excess of the amounts necessary to
pay the redemption price of, and accrued interest on, all Securities to be
redeemed. If such money is then held by the Company or a Subsidiary in trust and
is not required for such purpose, it shall be discharged from such
trust.

     

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

     

    
      
        
        

      

      
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    SECTION
3.06. Securities Redeemed in Part. Upon surrender of a Security that is redeemed
in part, the Company shall execute and, upon the Company's written request, the
Trustee shall authenticate for the Holder at the expense of the Company a new
Security equal in principal amount to the unredeemed portion of the Security
surrendered.

     

    ARTICLE
4

     

    COVENANTS

     

    SECTION
4.01. Payment of Securities. The Company covenants and agrees for the benefit of
the Holders of each Series of Securities that it will duly and punctually make
all payments in respect of each Series of Securities on the dates and in the
manner provided in such Series of Securities and this Indenture. Such payments
shall be considered made on the date the Trustee or the Paying Agent, if other
than the Company or a Subsidiary thereof, holds, in accordance with this
Indenture, funds sufficient to make all payments with respect to such Securities
then due and the Trustee or the Paying Agent, as the case may be, is not
prohibited from paying such money to the Holders on that date pursuant to the
terms of this Indenture.

     

    SECTION
4.02. Reports. Unless otherwise indicated in a Board Resolution, a supplemental
indenture or an Officers' Certificate, whether or not required by the rules and
regulations of the Commission so long as any Securities are outstanding, the
Company shall furnish to the Trustee and the Holders of the Securities the
following:

     

    (a) all
quarterly and annual financial information that would be required to be
contained in a filing with the Commission on Forms 10-Q and 10-K if the Company
were required to file such Forms, including a "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and, with respect to
the annual information only, a report thereon by the Company's certified
independent accountants;

     

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

     

    (c) any
other information, reports and documents that the Company is required to file
with the Commission pursuant to Section 13 or Section 15(d) of the Exchange
Act.

     

    in each
case, within the time periods specified in the Commission's rules and
regulations; provided that such information and reports need not be furnished to
the Holders if they are generally available on the Internet free of
charge.

     

    In
addition, whether or not required by the rules and regulations of the
Commission, the Company shall file a copy of all such information and reports
with the Commission for public availability within the time periods specified in
the Commission's rules and regulations (unless the Commission shall not accept
such a filing) and make such information available to securities analysts and
prospective investors upon request.

     

    
      
        
        

      

      
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    SECTION
4.03. Compliance Certificate.

     

    (a) The
Company shall deliver to the Trustee, within 90 days after the end of each
fiscal year of the Company, an Officers' Certificate stating that a review of
the activities of the Company and its Subsidiaries during the preceding fiscal
year has been made under the supervision of the signing Officers with a view to
determining whether each of the Company and any other obligors has kept,
observed, performed and fulfilled its obligations under this Indenture, and
further stating, as to each such Officer signing such certificate, that to the
best of his or her knowledge each entity has fulfilled all of its obligations
under this Indenture throughout such year and is not in default in the
performance or observance of any of the terms, provisions and conditions of this
Indenture (or, if a Default or Event of Default shall have occurred, describing
all such Defaults or Events of Default of which he or she may have knowledge and
the nature and status thereof).

     

    (b) So
long as not contrary to the then current recommendations of the American
Institute of Certified Public Accountants, the year-end financial statements
delivered pursuant to Section 4.02(a) above shall be accompanied by a written
statement of the Company's independent public accountants (who shall be a firm
of established national reputation, reasonably satisfactory to the Trustee) that
in making the examination necessary for certification of such financial
statements, nothing has come to their attention that would lead them to believe
that a Default or an Event of Default has occurred and is continuing or, if any
such Default or Event of Default has occurred and is continuing, specifying the
nature and period of existence thereof, it being understood that such
accountants shall not be liable directly or indirectly to any Person for any
failure to obtain knowledge of any such Default or Event of Default. In the
event that such written statement of the Company's independent public
accountants cannot be obtained, the Company shall deliver an Officers'
Certificate certifying that it has used its best efforts to obtain such
statements and was unable to do so.

     

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

     

    SECTION
4.04. Corporate Existence. Subject to Article 5, the Company shall do or cause
to be done all things necessary to preserve and keep in full force and
effect:

     

    (a) its
corporate, partnership or other existence, and the corporate, partnership or
other existence of each of its Subsidiaries, in accordance with the respective
organizational documents (as the same may be amended from time to time) of the
Company or any such Subsidiary; and

     

    (b) the
rights (charter and statutory), licenses and franchises of the Company and its
Subsidiaries; provided, however, that the Company shall not be required to
preserve any such right, license or franchise, or the corporate, partnership or
other existence of any of its Subsidiaries, if the Board of Directors shall
determine that the preservation thereof is no longer desirable in the conduct of
the business of the Company and its Subsidiaries, taken as a whole, and that the
loss thereof is not adverse in any material respect to the Holders of the
Securities.

     

    
      
        
        

      

      
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    SECTION
4.05. Calculation of Original Issue Discount. The Company shall file with the
Trustee promptly at the end of each calendar year (i) a written notice
specifying the amount of original issue discount (including daily rates and
accrual periods) accrued on outstanding Securities as of the end of such year
and (ii) such other specific information relating to such original issue
discount as may then be relevant under the Internal Revenue Code of 1986, as
amended from time to time.

     

    ARTICLE
5

     

    SUCCESSORS

     

    SECTION
5.01. Merger, Consolidation or Sale of Assets. Unless otherwise provided for in
a particular Series by a Board Resolution, a supplemental indenture or an
Officers' Certificate, the Company shall not consolidate with or merge into
(whether or not the Company is the surviving entity), or sell, assign, transfer,
lease, convey or otherwise dispose of (collectively, "Transfer") all or
substantially all of its properties or assets to, another Person
unless:

     

    (a) the
resulting, surviving or transferee Person (the "Successor Company") shall be a
corporation, limited liability company or limited partnership organized or
existing under the laws of the United States, any state thereof or the District
of Columbia;

     

    (b) the
Person formed by or surviving any such consolidation or merger (if other than
the Company) or the Person to which such Transfer has been made assumes all the
obligations of the Company under the Securities and this Indenture pursuant to a
supplemental indenture or amendment, in a form reasonably satisfactory to the
Trustee;

     

    (c)
immediately after such transaction, no Default exists; and

     

    (d) the
Company shall have delivered to the Trustee an Officers' Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or Transfer
complies with this Indenture.

     

    The
Successor Company shall succeed to, and be substituted for, and may exercise
every right and power of, the Company under this Indenture (as modified by a
Board Resolution, supplemental indenture or Officers' Certificate), and the
predecessor Company, except in the case of a lease of all or substantially all
of its assets, shall be released from the obligation to pay the principal of and
interest on the Securities. The foregoing will not prohibit a consolidation or
merger between the Company and a Wholly Owned Subsidiary, the transfer of all or
substantially all of the properties or assets of the Company to a Wholly Owned
Subsidiary or the transfer of all or substantially all of the properties or
assets of a Wholly Owned Subsidiary to the Company; provided, that if the
Company is not the surviving entity of such transaction or the Person to which
such transfer is made, the surviving entity or the Person to which such transfer
is made shall comply with clause (b) of this paragraph.

     

    
      
        
        

      

      
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    ARTICLE
6

     

    DEFAULTS
AND REMEDIES

     

    SECTION
6.01. Events of Default. Unless otherwise indicated for a particular Series of
Securities by a Board Resolution, a supplemental indenture or an Officers'
Certificate, each of the following constitutes an "Event of Default" with
respect to each Series of Securities:

     

    (a)
default for 30 days in the payment of interest when due with respect to the
Securities;

     

    (b)
default in payment when due of principal or premium, if any, on the Securities
at maturity, upon redemption or otherwise;

     

    (c)
failure by the Company for 30 days after receipt of notice (as specified below)
to comply with the provisions described under Section 2.04, 4.02, 4.03 or
5.01;

     

    (d)
failure by the Company for 60 days after notice (as specified below) to comply
with its other agreements in this Indenture or the Securities;

     

    (e) the
Company or any Significant Subsidiary pursuant to or within the meaning of any
Bankruptcy Law:

     

    (i)
commences a voluntary case;

     

    (ii)
consents to the entry of an order for relief against it in an involuntary case
in which it is the debtor;

     

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

     

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

     

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

     

    (i) is
for relief against the Company or any Significant Subsidiary in an involuntary
case in which it is the debtor;

     

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

     

    (iii)
orders the liquidation of the Company or any Significant
Subsidiary;

     

    and the
order or decree contemplated in clause (i), (ii) or (iii), remains unstayed and
in effect for 60 consecutive days;

     

    
      
        
        

      

      
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    A Default
under paragraph (c) or (d) is not an Event of Default until the Trustee or the
Holders of at least 25% in principal amount of the outstanding Securities notify
the Company of the Default and the Company does not cure such Default within the
time specified after receipt of such notice. Such notice must specify the
Default, demand that it be remedied and state that such notice is a "Notice of
Default".

     

    To the
extent that the last day of the period referred to in paragraph (a),
(c), (d),
(e) or (f) of this Section 6.01 is not a Business Day, then the first Business
Day following such day shall be deemed to be the last day of the period referred
to in such clauses. Any "day" will be deemed to end as of 11:59 p.m., New York
City time.

     

    SECTION
6.02. Acceleration. If an Event of Default with respect to any Series of
Securities at the time outstanding (other than an Event of Default with respect
to the Company specified in paragraph (e) and (f) of Section 6.01) occurs and is
continuing, the Trustee or the Holders of at least 25% in principal amount of
the then outstanding Securities of that Series may declare the unpaid principal
of, (or, in the case of Original Issue Discount Securities of that Series, the
portion thereby specified in the terms of such Security) premium, if any, and
accrued and unpaid interest on all the Securities of that Series to be due and
payable by notice in writing to the Company (and the Trustee, if given by the
Holders) specifying the respective Event of Default and that it is a "notice of
acceleration." Upon such a declaration, such amounts shall be due and payable
immediately. If an Event of Default with respect to the Company specified in
paragraph (e) or (f) of Section 6.01 occurs, the principal amount of (or, in the
case of Original Issue Discount Securities of that Series, the portion thereby
specified in the terms of such Security), premium, if any, and accrued and
unpaid interest on all the Securities of each Series of Security shall ipso
facto become and be immediately due and payable without any declaration or other
act on the part of the Trustee or any Holder. The Holders of a majority in
principal amount of the then outstanding Securities of any Series of Securities
by written notice to the Trustee may rescind an acceleration and its
consequences if the rescission would not conflict with any judgment or decree
and if all existing Events of Default have been cured or waived with respect to
such Series of Securities (except nonpayment of the principal amount of (or, in
the case of Original Issue Discount Securities of that Series, the portion
thereby specified in the terms of such Security), premium, if any, and accrued
and unpaid interest on all the Securities of that Series that has become due
solely because of the acceleration).

     

    SECTION
6.03. Other Remedies. If an Event of Default with respect to any Series of
Securities occurs and is continuing, the Trustee may pursue any available remedy
to collect the payment of the principal amount of (or, in the case of Original
Issue Discount Securities of that Series, the portion thereby specified in the
terms of such Security), premium, if any, and accrued and unpaid interest on all
the Securities of that Series or to enforce the performance of any provision of
the Securities of that Series or this Indenture.

     

    The
Trustee may maintain a proceeding even if it does not possess any of the
Securities of a Series 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 with respect to any Series of Securities 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.

     

    
      
        
        

      

      
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    SECTION
6.04. Waiver of Past Defaults. Holders of at least a majority in principal
amount of the Securities of any Series (including consents obtained in
connection with a tender offer or exchange for Securities) by notice to the
Trustee may on behalf of the Holders of all of Securities of that Series waive
an existing Default or Event of Default and its consequences hereunder, except a
continuing Default or Event of Default in the payment of the principal amount of
(or, in the case of Original Issue Discount Securities of that Series, the
portion thereby specified in the terms of such Security), premium, if any, and
accrued and unpaid interest on all the Securities of that Series. 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 Securities 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 with respect to that Series.
However, the Trustee may refuse to follow any direction that conflicts with law
or this Indenture or, subject to Section 7.01, that the Trustee determines may
be prejudicial to the rights of any other Holder of Securities of that Series or
that may involve the Trustee in personal liability.

     

    SECTION
6.06. Limitation on Suits. Except to enforce the right to receive payment of the
principal amount of (or, in the case of Original Issue Discount Securities, the
portion thereby specified in the terms of such Security), premium, if any, and
accrued and unpaid interest on a Security of Series when due, no Holder of a
Security of that Series may pursue any remedy with respect to this Indenture or
the Securities of that Series unless:

     

    (a) the
Holder previously gave to the Trustee written notice of a continuing Event of
Default;

     

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

     

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

     

    (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
outstanding Securities of that Series do not give the Trustee a direction
inconsistent with the request.

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

     

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

     

    SECTION
6.07. Rights of Holders to Receive Payment. Notwithstanding any other provision
of this Indenture, the right of any Holder to receive payment of the principal
amount of (or, in the case of Original Issue Discount Securities, the portion
thereby specified in the terms of such Security), premium, if any, and accrued
and unpaid interest on the Securities held by such Holder, on or after their
Maturity, or to bring suit for the enforcement of any such payment on or after
their Maturity, 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(a) or (b) occurs and is continuing, the Trustee is authorized to recover
judgment in its own name and as trustee of an express trust against the Company
or any other obligor under the Securities for the whole amount then due 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 the Holders allowed in any judicial proceedings
relative to the Company (or any other obligor under the Securities), its
creditors or its 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 the
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.

     

    SECTION
6.10. Priorities. If the Trustee collects any money pursuant to this Article 6
with respect to any Series of Securities, 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; Second:
to Holders for amounts due and unpaid on the Securities of that Series for the
principal amount of (or, in the case of Original Issue Discount Securities of
that Series, the portion thereby specified in the terms of such Security),
premium, if any, and accrued and unpaid interest, ratably, without preference or
priority of any kind, according to the amounts due and payable on the Securities
of that Series for the principal amount of (or, in the case of Original Issue
Discount Securities of that Series, the portion thereby specified
in the terms of such Security), premium, if any, and accrued and unpaid
interest, respectively; and

     

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

     

    Third: to
the Company.

     

    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, 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 Securities of any Series.

     

    ARTICLE
7

     

    TRUSTEE

     

    SECTION
7.01. Duties of Trustee.

     

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

     

    (b)
Except during the continuance of an Event of Default with respect to any Series
of Securities:

     

    (i) the
duties of the Trustee shall be determined solely by the express provisions of
this Indenture, with respect to the Securities of that Series, as modified or
supplemented by a Board Resolution, a supplemental indenture or an Officers'
Certificate, and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and

     

    (ii) in
the absence of bad faith on its part, the Trustee may with respect to Securities
of that Series, conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions
furnished to the Trustee and conforming to the requirements of this Indenture.
However, the Trustee shall examine the certificates and opinions to determine
whether or not they conform to the requirements of this Indenture (but need not
confirm or investigate the accuracy of mathematical calculations or other facts
stated therein).

     

    
      
        
        

      

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

     

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

     

    (ii) 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 negligent in
ascertaining the pertinent facts; and

     

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

     

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

     

    (e) 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 or
expense.

     

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

     

    (g) 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 or other paper or documents.

     

    SECTION
7.02. Rights of Trustee.

     

    (a) The
Trustee may conclusively rely on the truth of the statements and correctness of
the opinions contained in, and shall be protected from acting or refraining from
acting upon, any document believed by it to be genuine and to have been signed
or presented by the proper Person. The Trustee need not investigate any fact or
matter stated in the document, 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 premises
of the Company, personally or by agent or attorney, to the extent reasonably
required by such inquiry or investigation.

     

    (b)
Before the Trustee acts or refrains from acting, it may require an Officers'
Certificate or an Opinion of Counsel or both. The Trustee shall not be liable
for any action it takes or omits to take in good faith in reliance on such
Officers' Certificate or Opinion of Counsel. Prior to taking, suffering or
admitting any action, the Trustee may consult with counsel of the
Trustee's own choosing and the written advice 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.

     

    
      
        
        

      

      
        28

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

    SECTION
7.03. Individual Rights of Trustee. The Trustee in its individual or any other
capacity may become the owner or pledgee of Securities and may otherwise deal
with the Company or any Affiliate of the Company 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, apply to
the Commission 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
Securities, it shall not be accountable for the Company's use of the proceeds
from the Securities or any money paid to the Company or upon the Company's
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 Securities or any other document in connection with the
sale of the Securities or pursuant to this Indenture other than its certificate
of authentication.

     

    SECTION
7.05. Notice of Defaults. If a Default or Event of Default with respect to
Securities of any Series occurs and is continuing and if it is known to the
Trustee, the Trustee shall mail to Holders of that Series a notice of the
Default or Event of Default within 90 days after it occurs. Except in the case
of a Default or Event of Default in payment on any Security pursuant to Section
6.01(a) or (b), 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 the Holders.

     

    SECTION
7.06. Reports By Trustee to Holders. Unless otherwise specified in the
applicable Board Resolution, supplemental indenture or Officers' Certificate,
within 60 days after
each May 15 beginning with the May 15 following the date of this Indenture, and
for so long as Securities remain outstanding, the Trustee shall mail to the
Holders of the Securities a brief report dated as of such reporting date that
complies with TIA Section 313(a) (but if no event described in TIA Section
313(a) has occurred within the twelve months preceding the reporting date, no
report need be transmitted). The Trustee also shall comply with TIA Section
313(b). The Trustee shall also transmit by mail all reports as required by TIA
Section 313(c).

     

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

     

    A copy of
each report at the time of its mailing to the Holders shall be mailed to the
Company and filed with the Commission and each stock exchange on which the
Company has informed the Trustee in writing the Securities are listed in
accordance with TIA Section 313(d). The Company shall promptly notify the
Trustee in writing when the Securities are listed on any stock exchange and of
any delisting thereof.

     

    SECTION
7.07. Compensation and Indemnity. The Company shall pay to the Trustee from time
to time reasonable compensation for its acceptance of this Indenture and
services hereunder. To the extent lawful, the Trustee's compensation shall not
be limited by any law on compensation of a trustee of an express trust. The
Company shall reimburse the Trustee promptly upon request for all reasonable
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
Company shall indemnify the Trustee against any and all losses, liabilities or
expenses incurred by it arising out of or in connection with the acceptance or
administration of its duties under this Indenture, including the reasonable
costs and expenses of enforcing this Indenture against the Company or any other
obligors under the Securities (including this Section 7.07) and defending itself
against any claim (whether asserted by the Company 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, liability or
expense may be attributable to its gross negligence, bad faith or willful
misconduct. The Trustee shall notify the Company promptly of any claim for which
it may seek indemnity. Failure by the Trustee to so notify the Company shall not
relieve the Company of its obligations hereunder. The Company shall defend the
claim and the Trustee shall cooperate in the defense. The Trustee may have
separate counsel and the Company shall pay the reasonable fees and expenses of
such counsel. The Company need not pay for any settlement made without its
consent, which consent shall not be unreasonably withheld.

     

    The
obligations of the Company under this Section 7.07 shall survive the
satisfaction and discharge of this Indenture.

     

    To secure
the Company's payment obligations in this Section 7.07, the Trustee shall have a
lien prior to the Securities on all money or property held or collected by the
Trustee, except that held in trust to pay principal, premium, if any, and
interest on particular Securities. Such lien shall survive the satisfaction and
discharge of this Indenture and the resignation or removal of the Trustee. The
Trustee's right to receive payment of any amounts due under this Section 7.07
shall not be subordinate to any other Company Indebtedness.

     

    
      
        
        

      

      
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    When the
Trustee incurs expenses or renders services after an Event of Default specified
in Section 6.01(e) or (f) 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 Section 313(b)(2) to the extent
applicable.

     

    SECTION
7.08. Replacement of 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 with respect to the Securities of any Series by so notifying the
Company. The Holders of a majority in principal amount of the then outstanding
Securities of any Series may remove the Trustee with respect to such Series of
Securities by so notifying the Trustee and the Company in writing. The Company
may remove the Trustee if:

     

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

     

    (b) the
Trustee is adjudged a bankrupt or an 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, is removed by the Company or by the Holders of a majority in
principal amount of the Securities of any Series and such Holders do not
reasonably promptly appoint a successor Trustee or if a vacancy exists in the
office of Trustee for any reason (the Trustee in such event being referred to
herein as the retiring Trustee), the Company shall promptly appoint a successor
Trustee.

     

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

     

    If the
Trustee, after written request by any Holder of a Security who has been a Holder
of a Security 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 Company. Thereupon, the resignation or removal of
the retiring Trustee shall become effective, and the successor Trustee shall
have all the rights, powers and duties of the Trustee under this Indenture. The
successor Trustee shall mail a notice of its succession to the Holders.
The retiring Trustee shall promptly transfer all property held by it as Trustee
to the successor Trustee, provided that 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
Company's obligations under Section 7.07 shall continue for the benefit of the
retiring Trustee.

     

    
      
        
        

      

      
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    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; provided, such corporation or association
shall be otherwise eligible and qualified under this Article 7 and shall notify
the Company of its successor hereunder.

     

    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 has a combined capital and
surplus of at least $50.0 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
Section 310(a)(1), (2) and (5). The Trustee is subject to TIA Section
310(b).

     

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

     

    ARTICLE
8

     

    DISCHARGE;
LEGAL DEFEASANCE AND COVENANT DEFEASANCE

     

    SECTION
8.01. Discharge; Option to Effect Legal Defeasance or Covenant
Defeasance.

     

    (a) When
(i) the Company delivers to the Trustee all outstanding Securities of a Series
(other than Securities replaced pursuant to Section 2.08) for cancellation or
(ii) all outstanding Securities have become due and payable at maturity and the
Company irrevocably deposits with the Trustee funds sufficient to pay at
Maturity all outstanding Securities of such Series, including interest thereon
to Maturity (other than Securities replaced pursuant to Section 2.08), and if in
either case the Company pays all other sums payable hereunder by the Company,
then this Indenture shall cease to be of further effect except as set out in
Section 8.01(c). The Trustee shall acknowledge satisfaction and discharge of
this Indenture on demand of the Company accompanied by an Officers' Certificate
and an Opinion of Counsel and at the cost and expense of the
Company.

     

    
      
        
        

      

      
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    (b)
Notwithstanding Section 8.01(a), the Company's obligations in Sections 2.03,
2.04, 2.05, 2.06, 2.07, 2.08 and 2.11 and the rights, powers, trusts, duties and
immunities of the Trustee, including without limitation, under Sections 7.07,
8.05 and 8.07, and the Company's obligations in connection therewith, shall
survive until the Securities of a Series have been paid in full. The rights of
outstanding Securities to receive solely from the trust funds described in
Section 8.05 payments in respect of principal of, premium, if any, and interest
on such Securities when such payments are due shall also survive until the
Securities have been paid in full. Thereafter, the Company's obligations in
Sections 7.07 and 8.06 shall survive.

     

    (c) The
Company may, at the option of its Board of Directors evidenced by a resolution
set forth in an Officers' Certificate, at any time, elect to have all of its
obligations discharged with respect to all outstanding Securities of any Series
pursuant to Section 8.02 or 8.03 and upon compliance with the conditions set
forth below in this Article 8.

     

    SECTION
8.02. Legal Defeasance and Discharge. Upon the Company's exercise under Section
8.01(b) of the option applicable to this Section 8.02, the Company shall,
subject to the satisfaction of the conditions set forth in Section 8.04, be
deemed to have been discharged from its obligations with respect to all
outstanding Securities of that Series on the date the conditions set forth below
are satisfied (hereinafter, "Legal Defeasance"). For this purpose, Legal
Defeasance means that the Company shall be deemed to have paid and discharged
the entire Indebtedness represented by the outstanding Securities of that
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 its other obligations under such Securities
and this Indenture (and the Trustee, on demand and at the expense of the
Company, shall execute proper instruments acknowledging the same), except for
the following provisions which shall survive until otherwise terminated or
discharged hereunder:

     

    (a) the
rights of Holders of outstanding Securities of that Series to receive solely
from the trust fund described in Section 8.04(a), payments in respect of the
principal of, premium, if any, and interest on such Securities of that Series
when such payments are due;

     

    (b) the
Company's obligations with respect to such Securities of that Series under
Sections 2.03, 2.04, 2.05, 2.06, 2.07, 2.08 and 2.11;

     

    (c) the
rights, powers, trusts, duties and immunities of the Trustee, including without
limitation, under Sections 7.07, 8.05 and 8.07, and the Company's obligations in
connection therewith; and

     

    (d) the
provisions of this Article 8.

     

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

     

    
      
        
        

      

      
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    SECTION 8.03. Covenant Defeasance. Upon the Company's exercise
under Section
8.01(b) of the option applicable to this Section 8.03, the Company shall,
subject to the satisfaction of the conditions set forth in Section 8.04, be
released from its obligations under the covenants
contained in a Board Resolution, a supplemental indenture or an Officers'
Certificate and Section 5.01 with respect to the outstanding Securities of that
Series on and after the date the conditions set forth below are satisfied
(hereinafter, "Covenant Defeasance"), and the Securities of that Series shall
thereafter be deemed not "outstanding" for the purposes of any direction,
waiver, consent or declaration or act of Holders (and the consequences of any
thereof) in connection with such covenants, but shall continue to be deemed
"outstanding" for all other purposes hereunder (it being understood that such
Securities shall not be deemed outstanding for accounting purposes). For this
purpose, Covenant Defeasance means that, with respect to the outstanding
Securities of that Series, the Company and its Subsidiaries 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 Securities shall be unaffected thereby. In addition, upon the
Company's exercise under Section 8.01(b) of the option applicable to this
Section 8.03, subject to the satisfaction of the conditions set forth
in

    Section
8.04, any event specified in Section 6.01 (other than Section 6.01(e) and (f))
shall not constitute an Event of Default.

     

    SECTION
8.04. Conditions to Legal or Covenant Defeasance. The following shall be the
conditions to the application of either Section 8.02 or 8.03 to the outstanding
Securities:

     

    In order
to exercise either Legal Defeasance or Covenant Defeasance with respect to any
Series of Securities:

     

    (a) the
Company must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders of that Series of Securities, (i) cash in United States dollars,
(ii) non-callable Government Securities or (iii) a combination thereof, in such
amounts as shall 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 Securities of such Series on the stated maturity or
on the applicable redemption date, as the case may be, and the Company must
specify whether the Securities of such Series are being defeased to maturity or
to a particular redemption date;

     

    (b) in
the case of an election under Section 8.02, the Company shall have delivered to
the Trustee an Opinion of Counsel in the United States reasonably acceptable to
the Trustee confirming that (i) the Company has received from, or there has been
published by, the Internal Revenue Service a ruling or (ii) since the date
hereof, there has been a change in the applicable federal income tax law, in
either case to the effect that, and based thereon such Opinion of Counsel shall
confirm that, the Holders of the outstanding Securities of such Series shall not
recognize income, gain or loss for federal income tax purposes as a result of
such Legal Defeasance and shall be subject to federal income tax on the same
amounts, in the same manner and at the same time as would have been the case if
such Legal Defeasance had not occurred;

     

    (c) in
the case of an election under Section 8.03, the Company shall have delivered to
the Trustee an Opinion of Counsel in the United States reasonably acceptable to
the Trustee confirming
that the Holders of the outstanding Securities of such Series shall not
recognize income, gain or loss for federal income tax purposes as a result of
such Covenant Defeasance and shall 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;

     

    
      
        
        

      

      
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    (d) no
Default or Event of Default with respect to that Series of Securities shall have
occurred and be continuing on the date of such deposit (other than a Default or
Event of Default resulting from the borrowing of funds to be applied to such
deposit) or insofar as Sections 6.01(e) and (f) are concerned, at any time in
the period ending on the 91st day after the date of deposit (it being understood
that this condition shall not be deemed satisfied until the expiration of such
period);

     

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

     

    (f) the
Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that after the 91st day following the deposit, the trust funds will not be
subject to the effect of any applicable bankruptcy, insolvency, reorganization
or similar laws affecting creditors' rights generally;

     

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

     

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

     

    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
Securities of that Series shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Securities and this Indenture, to the
payment, either directly or through any Paying Agent (including the Company
acting as Paying Agent) as the Trustee may determine, to the Holders of such
Securities of all sums due and to become due thereon in respect of principal,
premium, if any, and interest but such money need not be segregated from other
funds except to the extent required by law.

     

    The
Company shall pay and indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against the cash or non-callable 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 Securities of that
Series.

     

    
      
        
        

      

      
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    Anything
in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or
pay to the Company from time to time upon the written request of the Company,
and be relieved of all liability with respect to, 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(a)), 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 the Company. Any money deposited with the Trustee or any
Paying Agent, or then held by the Company, in trust for the payment of the
principal of, premium, if any, and interest on any Security and remaining
unclaimed for one year after such principal, and premium, if any, or interest,
has become due and payable shall be paid to the Company on its written request
or (if then held by the Company) shall be discharged from such trust; and the
Holder of such Security shall thereafter, as an unsecured general creditor, look
only to the Company for payment thereof, and all liability of the Trustee or
such Paying Agent with respect to such trust money, and all liability of the
Company as trustee thereof, shall thereupon cease; provided, however, that the
Trustee or such Paying Agent, before being required to make any such repayment,
may at the expense of the Company cause to be published once, in 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
Company.

     

    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 obligations of the Company under this
Indenture, and the Securities 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
Company makes any payment of principal of, premium, if any, or interest on any
Security following the reinstatement of its obligations, the Company shall be
subrogated to the rights of the Holders of such Securities to receive such
payment from the money held by the Trustee or Paying Agent.

     

    ARTICLE
9

     

    AMENDMENT,
SUPPLEMENT AND WAIVER

     

    SECTION
9.01. Without Consent of Holders. Without the consent of any Holder, the Company
and the Trustee may amend or supplement this Indenture or the
Securities:

     

    (a) to
evidence the succession of another Person to the Company pursuant to Article 5
and the assumption by such successor of the Company's covenants, agreements and
obligations in this Indenture and in the Securities;

     

    
      
        
        

      

      
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    (b) to
surrender any right or power conferred upon the Company by this Indenture, to
add to the covenants of the Company such further covenants, restrictions,
conditions or provisions for the protection of the Holders of all or any Series
of Securities as the Board of Directors of the Company shall consider to be for
the protection of the Holders of such Securities, and to make the occurrence, or
the occurrence and continuance, of a default in respect of any such additional
covenants, restrictions, conditions or provisions a Default or an Event of
Default under this Indenture; provided, however, that with respect to any such
additional covenant, restriction, condition or provision, such amendment may
provide for a period of grace after default, which may be shorter or longer than
that allowed in the case of other Defaults, may provide for an immediate
enforcement upon such Default, may limit the remedies available to the Trustee
upon such Default or may limit the right of Holders of a majority in aggregate
principal amount of the Securities of any Series to waive such
default;

     

    (c) to
cure any ambiguity or correct or supplement any provision contained in this
Indenture, in any supplemental indenture or in any Securities that may be
defective or inconsistent with any other provision contained
therein;

     

    (d) to
convey, transfer, assign, mortgage or pledge any property to or with the
Trustee, or to make such other provisions in regard to matters or questions
arising under this Indenture as shall not adversely affect the interests of any
Holders of Securities of any Series;

     

    (e) to
modify or amend this Indenture in such a manner as to permit the qualification
of this Indenture or any supplemental indenture hereto under the TIA as then in
effect;

     

    (f) to
add or to change any of the provisions of this Indenture to provide that
Securities in bearer form may be registrable as to principal, to change or
eliminate any restrictions on the payment of principal or premium with respect
to Securities in registered form or of principal, premium or interest with
respect to Securities in bearer form, or to permit Securities in registered form
to be exchanged for Securities in bearer form, so as to not adversely affect the
interests of the Holders or any coupons of any Series in any material respect or
permit or facilitate the issuance of Securities of any Series in uncertificated
form;

     

    (g) in
the case of subordinated Securities, to make any change in the provisions of
this Indenture or any supplemental indenture relating to subordination that
would limit or terminate the benefits available to any holder of Senior
Indebtedness (as defined in the applicable Board Resolution, supplemental
indenture hereto or Officers' Certificate related to such Series of Subordinated
Securities) under such provisions (but only if each such holder of Senior
Indebtedness under such provisions consents to such change);

     

    (h) to
add guarantees with respect to the Securities or to secure the
Securities;

     

    (i) to
make any change that does not adversely affect the rights of any
Holder;

     

    (j) to
add to, change or eliminate any of the provisions of this Indenture with respect
to one or more Series of Securities, so long as any such addition, change or
elimination not otherwise permitted under this Indenture shall (x) neither apply
to any Security of any Series created
prior to the execution of such supplemental indenture and entitled to the
benefit of such provision nor modify the rights of the Holders of any such
Security with respect to the benefit of such provision or (y) become effective
only when there is no such Security outstanding;

     

    
      
        
        

      

      
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    (k) to
conform the text of this Indenture to any provision of this description of debt
securities or any description of debt securities contained in the prospectus
supplement to the extent that such provision was intended to be a verbatim
recitation of the Indenture;

     

    (l) to
evidence and provide for the acceptance of appointment by a successor or
separate Trustee with respect to the Securities of one or more Series and to add
to or change any of the provisions of this Indenture as shall be necessary to
provide for or facilitate the administration of this Indenture by more than one
Trustee; or

     

    (m) to
establish the form or terms of Securities and coupons of any Series pursuant to
Article 2.

     

    Upon the
request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental Indenture, and
upon receipt by the Trustee of the documents described in Section 9.06, the
Trustee shall join with the Company 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 Securities. The Company and the Trustee may
amend or supplement this Indenture or the Securities of any Series with the
consent of the Holders of at least a majority in principal amount of the
Securities of such Series then outstanding voting as a single class (including
consents obtained in connection with a tender offer or exchange offer for
Securities), and, subject to Sections 6.02, 6.04 and 6.07, any existing Default
or Event of Default (other than a Default or Event of Default in the payment of
the principal of, premium, if any, or interest on the Securities (except a
payment default resulting from an acceleration that has been rescinded) or
compliance with any provision of this Indenture or the Securities of any Series
may be waived with the consent of the Holders of a majority in principal amount
of the then outstanding Securities of such Series voting as a single class
(including consents obtained in connection with or a tender offer or exchange
offer for the Securities).

     

    Upon the
request of the Company accompanied by a resolution of its Board of Directors
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 Securities as aforesaid, and upon receipt by the
Trustee of the documents described in Section 9.06, the Trustee shall join with
the Company in the execution of such amended or supplemental Indenture unless
such amended or supplemental indenture affects the Trustee's own rights, duties
or immunities under this Indenture or otherwise, in which case the Trustee may,
but shall not be obligated to, enter into such amended or supplemental
indenture.

     

    
      
        
        

      

      
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    It shall
not be necessary for the consent of the Holders of Securities 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
Company shall mail to the Holders of Securities affected thereby a notice
briefly describing the amendment, supplement or waiver. Any failure of the
Company to mail such notice, or any defect therein, shall not, however, in any
way impair or affect the validity of any such amended or supplemental Indenture
or waiver. However, without the consent of the Holders of all of the affected
Securities, an amendment, supplement or waiver may not (with respect to any
Security of any Series held by a non-consenting Holder):

     

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

     

    (b)
reduce the principal amount of or extend the Stated Maturity of any Security, or
alter the provisions with respect to the redemption of the
Securities;

     

    (c)
reduce the rate of or extend the time for payment of interest on any
Securities;

     

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

     

    (e) make
any Security payable in money other than that stated in the
Securities;

     

    (f) make
any change in Section 6.04 or 6.07;

     

    (g) waive
a redemption payment with respect to any Security; or

     

    (h) make
any change in the foregoing amendment and waiver provisions of this Article
9.

     

    SECTION
9.03. Compliance with Trust Indenture Act. Every amendment or supplement to this
Indenture or the Securities shall comply with the TIA as then in
effect.

     

    SECTION
9.04. Revocation and Effect of Consents and Waivers. A consent to an amendment
or a waiver by a Holder of a Security shall bind the Holder and every subsequent
Holder of that Security or portion of the Security that evidences the same debt
as the consenting Holder's Security, even if notation of the consent or waiver
is not made on the Security. However, any such Holder or subsequent Holder may
revoke the consent or waiver as to such Holder's Security or portion of the
Security if the Trustee receives the notice of revocation before the date the
amendment or waiver becomes effective. After an amendment or waiver becomes
effective, it shall bind every Holder. An amendment or waiver becomes effective
once both (i) the requisite number of consents have been received by the Company
or the Trustee and (ii) such amendment or waiver has been executed by the
Company and the Trustee.

     

    
      
        
        

      

      
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    The
Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to give their consent or take any other action
described above or required or permitted to be taken pursuant to this Indenture.
If a record date is fixed, then notwithstanding the immediately preceding
paragraph, those Persons who were Holders at such record date (or their duly
designated proxies), and only those Persons, shall be entitled to give such
consent or to revoke any consent previously given or to take any such action,
whether or not such Persons continue to be Holders after such record date. No
such consent shall be valid or effective for more than 120 days after such
record date.

     

    SECTION
9.05. Notation on or Exchange of Securities. The Trustee may place an
appropriate notation about an amendment, supplement or waiver on any Security
thereafter authenticated. The Company in exchange for all Securities may issue
and the Trustee shall authenticate new Securities that reflect the amendment,
supplement or waiver.

     

    Failure
to make the appropriate notation or issue a new Security 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 Company may not sign an amendment or supplemental
Indenture until the Board of Directors approves it. In executing any amended or
supplemental indenture the Trustee shall be entitled to receive and (subject to
Section 7.01) shall be fully protected in relying upon, in addition to the
documents required by Section 10.04, an Officers' Certificate and an Opinion of
Counsel stating that the execution of such amended or supplemental indenture is
authorized or permitted by this Indenture, that it is not inconsistent herewith,
and that it will be valid and binding upon the Company in accordance with its
terms.

     

    ARTICLE
10

     

    NOTE
GUARANTEES

     

    SECTION
10.01. Guarantee

     

    (a)
Subject to this Article 10, the Guarantor hereby unconditionally guarantees to
each Holder of Securities issued by Icahn Enterprises Finance, authenticated and
delivered by the Trustee and to the Trustee and its successors and assigns,
irrespective of the validity and enforceability of this Indenture, the
Securities or the obligations of the Company hereunder or thereunder,
that:

     

    (1) the
principal of, premium and liquidated damages, if any, and interest on, the Notes
will be promptly paid in full when due, whether at maturity, by acceleration,
redemption or otherwise, and interest on the overdue principal of and interest
on the Notes, if any, if lawful, and all other obligations of the Company to the
Holders or the Trustee hereunder or thereunder will be promptly paid in full or
performed, all in accordance with the terms hereof and thereof; and

     

    
      
        
        

      

      
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    (2) in
case of any extension of time of payment or renewal of any Securities or any of
such other obligations, that same will be promptly paid in full when due or
performed in accordance with the terms of the extension or renewal, whether at
stated maturity, by acceleration or otherwise.

     

    Failing
payment when due of any amount so guaranteed or any performance so guaranteed
for whatever reason, the Guarantor will pay the same immediately. The Guarantor
agrees that this is a guarantee of payment and not a guarantee of
collection.

     

    (b) The
Guarantor hereby agrees that its obligations hereunder are unconditional,
irrespective of the validity, regularity or enforceability of the Securities or
this Indenture, the absence of any action to enforce the same, any waiver or
consent by any Holder of the Securities with respect to any provisions hereof or
thereof, the recovery of any judgment against the Company, any action to enforce
the same or any other circumstance which might otherwise constitute a legal or
equitable discharge or defense of a guarantor. The Guarantor hereby waives
diligence, presentment, demand of payment, filing of claims with a court in the
event of insolvency or bankruptcy of the Company, any right to require a
proceeding first against the Company, protest, notice and all demands whatsoever
and covenant that this Guarantee will not be discharged except by complete
performance of the obligations contained in the Securities and this
Indenture.

     

    (c) If
any Holder or the Trustee is required by any court or otherwise to return to the
Company, the Guarantor or any custodian, trustee, liquidator or other similar
official acting in relation to either the Company or the Guarantor, any amount
paid by either to the Trustee or such Holder, this Guarantee, to the extent
theretofore discharged, will be reinstated in full force and
effect.

     

    (d) The
Guarantor agrees that it will not be entitled to any right of subrogation in
relation to the Holders in respect of any obligations guaranteed hereby until
payment in full of all obligations guaranteed hereby. The Guarantor further
agrees that, as between the Guarantor, on the one hand, and the Holders and the
Trustee, on the other hand, (1) the maturity of the obligations guaranteed
hereby may be accelerated as provided in Article 6 hereof for the purposes of
this Guarantee, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the obligations guaranteed hereby,
and (2) in the event of any declaration of acceleration of such obligations as
provided in Article 6 hereof, such obligations (whether or not due and payable)
will forthwith become due and payable by the Guarantor for the purpose of this
Guarantee.

     

    SECTION
10.02. Limitation on Guarantor Liability.

     

    The
Guarantor, and by its acceptance of Securities, each Holder, hereby confirms
that it is the intention of all such parties that the Guarantee not constitute a
fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform
Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar
federal or state law to the extent applicable to any Guarantee. To effectuate
the foregoing intention, the Trustee, the Holders and the Guarantor hereby
irrevocably agree that the obligations of such Guarantor will be limited to the
maximum amount
that will, after giving effect to such maximum amount and all other contingent
and fixed liabilities of the Guarantor that are relevant under such
laws.

     

    
      
        
        

      

      
        41

        
          

        

      

      
        
        

      

    

     

     

    SECTION
10.03. Execution and Delivery of Guarantee.

     

    To
evidence its Guarantee set forth in Section 10.01 hereof, the Guarantor hereby
agrees that a notation of such Note Guarantee will be endorsed by an Officer of
the Guarantor on each Security authenticated and delivered by the Trustee and
that this Indenture will be executed on behalf of the Guarantor by one of its
Officers.

     

    The
Guarantor hereby agrees that its Guarantee set forth in Section 10.01 hereof
will remain in full force and effect notwithstanding any failure to endorse on
the Securities a notation of such Guarantee.

     

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

     

    The
delivery of any Securities by the Trustee, after the authentication thereof
hereunder, will constitute due delivery of the Guarantee set forth in this
Indenture on behalf of the Guarantor.

     

    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 Section 318(c),
the imposed duties shall control.

     

    SECTION
11.02. Notices. Any notice or communication by the Company, any Guarantor or the
Trustee shall be in writing and delivered in person or mailed by first class
mail (registered or certified, return receipt requested) or by overnight air
courier guaranteeing next day delivery, as follows:

     

    If
to the Company:

     

    Icahn
Enterprises L.P.

     Icahn
Enterprises Finance Corp.

    767 Fifth
Avenue, Suite 4700

    New York,
New York 10153

     

    Telecopy:
(646) 365-2833

    Attention:
Felicia Buebel, Esq.

    

    With a
copy to:

    Proskauer
Rose LLP

    1585
Broadway

    New York,
New York 10036

    Telecopy:
(212) 969-3000

    Attention:
Julie M. Allen, Esq.

     

    If
to the Trustee:

     

    Wilmington
Trust Company Rodney Square North

    1100
North Market Street

    Wilmington,
Delaware 19890

    
       

      Telecopier
No.: (302)
636-4140 Attention: Michael G. Oller

       

      With a
copy to:

       

      Telecopier No.: ____________

      Attention:
_________________

    

     

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

    
      
         

      

      
        42

        
          

        

      

      
         

      

    

     

    Any
notice or communication to a Holder shall be mailed to its address shown on the
register kept by the Registrar and shall be sufficiently given if so mailed
within the time prescribed.

     

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

     

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

     

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

    
      
         

      

      
        43

        
          

        

      

      
         

      

    

    SECTION
11.04. Certificate and Opinion as to Conditions Precedent. Upon any request or
application by the Company to the Trustee to take any action under this
Indenture, the Company shall furnish, at the request of the Trustee, to the
Trustee:

     

    (a) an
Officers' Certificate in form and substance reasonably satisfactory to the
Trustee 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

     

    (b) an
Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
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 shall include:

     

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

     

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

     

    (c) a
statement that, in the opinion of 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

     

    (d) 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, Paying Agent and Registrar. 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 and Stockholders.
No director, officer, employee, incorporator or stockholder of the Company as
such shall have any liability for any obligations of the Company under the
Securities or this Indenture or for any claim based on, in respect of, or by
reason of, such obligations or their creation. Each Holder of Securities by
accepting a Security waives and releases all such liability. The waiver and
release are part of the consideration for issuance of the
Securities.

     

    SECTION
11.08. GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND
BE USED TO CONSTRUE THIS INDENTURE AND THE SECURITIES WITHOUT GIVING EFFECT TO
APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF
THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

    
      
         

      

      
        44

        
          

        

      

      
         

      

    

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

     

    SECTION
11.12. 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 hereof.

     

    [Signatures
on following page]

    
      
         

      

      
        45

        
          

        

      

      
         

      

    

     

    SIGNATURES

     

    Dated as
of

     

    ICAHN
ENTERPRISES L.P.

     

    By: Icahn
Enterprises G.P., Inc.,

    its
general partner

     

    By:

    

    Name:

    Title:

     

    ICAHN
ENTERPRISES FINANCE CORP.

     

    By:

    

    Name:

    Title:

     

    WILMINGTON
TRUST COMPANY

     

    By:

    

    Name:
Michael G. Oller, Jr.

     

    Title:
Senior Financial Services Officer

    
      
         

      

      
        46

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