Document:

Exhibit
10.150

 

NEITHER
THIS SECURITY NOR THE SECURITIES AS TO WHICH THIS SECURITY MAY BE EXERCISED HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION
OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THIS SECURITY AND THE SECURITIES ISSUABLE UPON
EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

COMMON
STOCK PURCHASE WARRANT

 

CLEAN
ENERGY TECHNOLOGIES, INC.

 

Warrant
Shares: 1,736,111

Date
of Issuance: September 1, 2022 (“Issuance Date”)

 

This
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received (in connection with the issuance
of the promissory note in the principal amount of $138,888.88 to the Holder (as defined below) of even date) (the “Note”),
Pacific Pier Capital, LLC, a Nevada limited liability company (including any permitted and registered assigns, the “Holder”),
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after
the date of issuance hereof, to purchase from CLEAN ENERGY TECHNOLOGIES, INC., a Nevada corporation (the “Company”),
1,736,111 shares of Common Stock (the “Warrant Shares”) (whereby such number may be adjusted from time to time pursuant
to the terms and conditions of this Warrant) at the Exercise Price per share then in effect. This Warrant is issued by the Company as
of the date hereof in connection with that certain securities purchase agreement dated August 30, 2022, by and among the Company and
the Holder (the “Purchase Agreement”).

 

Capitalized
terms used in this Warrant shall have the meanings set forth in the Purchase Agreement unless otherwise defined in the body of this Warrant
or in Section 12 below. For purposes of this Warrant, the term “Exercise Price” shall mean $0.04 per share, provided, however,
that if the Company consummates an Uplist Offering (as defined in this Warrant) on or before the date that is one hundred eighty (180)
calendar days after the Issuance Date, then the Exercise Price shall equal 120% of the offering price per share of Common Stock (or unit,
if units are offered in the Uplist Offering) at which the Uplist Offering is made (the “Uplist Exercise Price”) (for the
avoidance of doubt, if a unit includes more than one share of the Common Stock in the Uplist Offering, the Uplist Exercise Price shall
mean 120% of the unit price divided by the number of shares of Common Stock contained in a unit), subject to adjustment as provided in
this Warrant (including but not limited to cashless exercise and Section 2(b) of this Warrant). “Uplist Offering” shall mean
an offering of Common Stock (or units consisting of Common Stock and warrants to purchase Common Stock) that results in the immediate
listing for trading of the Common Stock on the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global
Select Market, the New York Stock Exchange, or any other national securities exchange (or any successors to any of the foregoing). For
purposes of this Warrant, the term “Exercise Period” shall mean the period commencing on the earlier of (i) the date that
is one hundred eighty-one (181) calendar days after the Issuance Date or (ii) the date that the Company consummates an Uplist Offering,
and ending on 5:00 p.m. eastern standard time on the five-year anniversary thereof.

 

    	1

    	 

    

 

1.
EXERCISE OF WARRANT.

 

(a)
Mechanics of Exercise. Subject to the terms and conditions hereof, the rights represented by this Warrant may be exercised in
whole or in part at any time or times during the Exercise Period by delivery of a written notice, in the form attached hereto as Exhibit
A (the “Exercise Notice”), of the Holder’s election to exercise this Warrant. The Holder shall not be required
to deliver the original Warrant in order to effect an exercise hereunder. Partial exercises of this Warrant resulting in purchases of
a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant
Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. On or before the third Trading
Day (the “Warrant Share Delivery Date”) following the date on which the Holder sent the Exercise Notice to the Company
or the Company’s transfer agent, and upon receipt by the Company of payment to the Company of an amount equal to the applicable
Exercise Price multiplied by the number of Warrant Shares as to which all or a portion of this Warrant is being exercised (the “Aggregate
Exercise Price” and together with the Exercise Notice, the “Exercise Delivery Documents”) in cash or by
wire transfer of immediately available funds (or by cashless exercise, in which case there shall be no Aggregate Exercise Price provided),
the Company shall (or direct its transfer agent to) issue and deliver by overnight courier to the address as specified in the Exercise
Notice, a certificate, registered in the Company’s share register in the name of the Holder or its designee, for the number of
shares of Common Stock to which the Holder is entitled pursuant to such exercise (or deliver such shares of Common Stock in electronic
format if requested by the Holder). Upon delivery of the Exercise Delivery Documents, the Holder shall be deemed for all corporate purposes
to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the
date of delivery of the certificates evidencing such Warrant Shares. If this Warrant is submitted in connection with any exercise and
the number of Warrant Shares represented by this Warrant submitted for exercise is greater than the number of Warrant Shares being acquired
upon an exercise, then the Company shall as soon as practicable and in no event later than three business days after any exercise and
at its own expense, issue a new Warrant (in accordance with Section 6) representing the right to purchase the number of Warrant Shares
purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which this Warrant
is exercised.

 

If
the Company fails to cause its transfer agent to issue to the Holder the respective shares of Common Stock by the respective Warrant
Share Delivery Date, then the Holder will have the right to rescind such exercise in Holder’s sole discretion in addition to all
other rights and remedies at law, under this Warrant, or otherwise, and such failure shall also be deemed an event of default under the
Note, a material breach under this Warrant, and a material breach under the Purchase Agreement.

 

If
(i) the date of the Exercise Notice is on or after the date that is one hundred eighty-one (181) calendar days after the Issuance Date
and (ii) the Market Price of one share of Common Stock is greater than the Exercise Price, then, unless there is an effective non-stale
registration statement of the Company which contains a prospectus that complies with Section 5(b) and Section 10 of the Securities Act
of 1933 at the time of exercise and covers the Holder’s immediate resale of all of the Warrant Shares at prevailing market prices
(and not fixed prices) without any limitation, the Holder may elect to receive Warrant Shares pursuant to a cashless exercise, in lieu
of a cash exercise, equal to the value of this Warrant determined in the manner described below (or of any portion thereof remaining
unexercised) by surrender of this Warrant and an Exercise Notice, in which event the Company shall issue to Holder a number of Common
Stock computed using the following formula:

 

	 	X=	Y
  (A-B)	 
	 	 	A	 

 

	 	Where
    	X
    =	the
    number of Shares to be issued to Holder.
	 	 	 	 
	 		Y =	the
    number of Warrant Shares that the Holder elects to purchase under this Warrant (at the date of such calculation).
	 	 	 	 
	 		A =	the
    Market Price (at the date of such calculation).
	 	 	 	 
	 		B =	Exercise
    Price (as adjusted to the date of such calculation).

 

    	2

    	 

    

 

(b)
No Fractional Shares. No fractional shares shall be issued upon the exercise of this Warrant as a consequence of any adjustment
pursuant hereto. All Warrant Shares (including fractions) issuable upon exercise of this Warrant may be aggregated for purposes of determining
whether the exercise would result in the issuance of any fractional share. If, after aggregation, the exercise would result in the issuance
of a fractional share, the Company shall, in lieu of issuance of any fractional share, pay the Holder otherwise entitled to such fraction
a sum in cash equal to the product resulting from multiplying the then-current fair market value of a Warrant Share by such fraction.

 

(c)
Holder’s Exercise Limitations. Notwithstanding anything to the contrary contained herein, the Company shall not effect any
exercise of this Warrant, and a Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 1 or otherwise,
to the extent that after giving effect to such issuance after exercise as set forth on the applicable Exercise Notice, the Holder (together
with the Holder’s affiliates (the “Affiliates”), and any other Persons acting as a group together with the Holder or
any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial
Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned
by the Holder and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of this Warrant with
respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon
(i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution
Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including,
without limitation, any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation
contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding
sentence, for purposes of this Section 1(c), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange
Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Holder is solely responsible for
any schedules required to be filed in accordance therewith. In addition, a determination as to any group status as contemplated above
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes
of this Section 1(c), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding
shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the
case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Company’s
transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company
shall within two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any
case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities
of the Company, including this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number
of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of the number of
shares of the Common Stock outstanding at the time of the respective calculation hereunder. The limitations contained in this paragraph
shall apply to a successor holder of this Warrant.

 

    	3

    	 

    

 

(d)
Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available to
the Holder, if the Company fails to cause the Company’s transfer agent to transmit to the Holder the Warrant Shares in accordance
with the provisions of this Warrant (including but not limited to Section 1(a) above pursuant to an exercise on or before the respective
Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or
otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the
Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall
(A) pay in cash to the Holder, within one (1) business day of Holder’s request, the amount, if any, by which (x) the Holder’s
total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the product of
(1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times
(2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either
reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such
exercise shall be deemed rescinded) or deliver to the Holder within one (1) business day of Holder’s request the number of shares
of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For
example, if the Holder purchases, or effectuates a cashless exercise hereunder for, Common Stock having a total purchase price of $11,000
to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase
obligation of $10,000, under clause (A) of the immediately preceding sentence, the Company shall be required to pay the Holder $1,000.
The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request
of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available
to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect
to the Company’s failure to timely deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms
hereof.

 

2.
ADJUSTMENTS. The Exercise Price and the number of Warrant Shares shall be adjusted from time to time as follows:

 

(a)
Distribution of Assets. If the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire
its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including without limitation any distribution
of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement or
other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such
case:

 

(i)
any Exercise Price in effect immediately prior to the close of business on the record date fixed for the determination of holders of
shares of Common Stock entitled to receive the Distribution shall be reduced, effective as of the close of business on such record date,
to a price determined by multiplying such Exercise Price by a fraction (i) the numerator of which shall be the Closing Sale Price of
the shares of Common Stock on the Trading Day immediately preceding such record date minus the value of the Distribution (as determined
in good faith by the Company’s Board of Directors) applicable to one share of Common Stock, and (ii) the denominator of which shall
be the Closing Sale Price of the shares of Common Stock on the Trading Day immediately preceding such record date; and

 

(ii)
the number of Warrant Shares shall be increased to a number of shares equal to the number of shares of Common Stock obtainable immediately
prior to the close of business on the record date fixed for the determination of holders of shares of Common Stock entitled to receive
the Distribution multiplied by the reciprocal of the fraction set forth in the immediately preceding clause (i); provided, however, that
in the event that the Distribution is of shares of common stock of a company (other than the Company) whose common stock is traded on
a national securities exchange or a national automated quotation system (“Other Shares of Common Stock”), then the
Holder may elect to receive a warrant to purchase Other Shares of Common Stock in lieu of an increase in the number of Warrant Shares,
the terms of which shall be identical to those of this Warrant, except that such warrant shall be exercisable into the number of shares
of Other Shares of Common Stock that would have been payable to the Holder pursuant to the Distribution had the Holder exercised this
Warrant immediately prior to such record date and with an aggregate exercise price equal to the product of the amount by which the exercise
price of this Warrant was decreased with respect to the Distribution pursuant to the terms of the immediately preceding clause (i) and
the number of Warrant Shares calculated in accordance with the first part of this clause (ii).

 

    	4

    	 

    

 

(b)
Anti-Dilution Adjustments to Exercise Price. Except with respect to an Exempt Issuance (as defined in this Warrant), if the Company
or any Subsidiary thereof, as applicable, at any time while this Warrant is outstanding, shall sell or grant any option to purchase,
or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any option to purchase
or other disposition) any Common Stock or securities (including but not limited to Common Stock Equivalents) entitling any person or
entity (for purposes of clarification, including but not limited to the Holder pursuant to (i) any other security of the Company currently
held by Holder, (ii) any other security of the Company issued to Holder on or after the Issuance Date (including but not limited to the
Note), or (iii) any other agreement entered into between the Company and Holder) to acquire shares of Common Stock (upon conversion,
exercise or otherwise), at an effective price per share less than the then Exercise Price (such lower price, the “Base Share Price”
and such issuances collectively, a “Dilutive Issuance”) (if the holder of the Common Stock or Common Stock Equivalents so
issued shall at any time, whether by operation of purchase price adjustments, elimination of an applicable floor price for any reason
in the future (including but not limited to the passage of time or satisfaction of certain condition(s)), reset provisions, floating
conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued in connection
with such issuance, be entitled or potentially entitled to receive shares of Common Stock at an effective price per share which is less
than the Exercise Price at any time while such Common Stock or Common Stock Equivalents are in existence, such issuance shall be deemed
to have occurred for less than the Exercise Price on such date of the Dilutive Issuance (regardless of whether the Common Stock or Common
Stock Equivalents are (i) subsequently redeemed or retired by the Company after the date of the Dilutive Issuance or (ii) actually converted
or exercised at such Base Share Price), then the Exercise Price shall be reduced at the option of the Holder and only reduced to equal
the Base Share Price. Such adjustment shall be made whenever such Common Stock or Common Stock Equivalents are issued, regardless of
whether the Common Stock or Common Stock Equivalents are (i) subsequently redeemed or retired by the Company after the date of the Dilutive
Issuance or (ii) actually converted or exercised at such Base Share Price by the holder thereof (for the avoidance of doubt, the Holder
may utilize the Base Share Price even if the Company did not actually issue shares of its common stock at the Base Share Price under
the respective Common stock Equivalents). The Company shall notify the Holder in writing, no later than the Trading Day following the
issuance of any Common Stock or Common Stock Equivalents subject to this Section 2(b), indicating therein the applicable issuance price,
or applicable reset price, exchange price, conversion price and other pricing terms (such notice the “Dilutive Issuance Notice”).
For purposes of clarification, regardless of whether (i) the Company provides a Dilutive Issuance Notice pursuant to this Section 2(b)
upon the occurrence of any Dilutive Issuance or (ii) the Holder accurately refers to the Base Share Price in the Exercise Notice, the
Holder is entitled to utilize the Base Share Price at all times on and after the date of such Dilutive Issuance. Notwithstanding the
foregoing, the Holder may only enforce its rights under this Section 2(b) after the date that is one hundred eighty (180) calendar days
after the Issuance Date, provided, however, that at such time the Holder may enforce its rights to all adjustments under this Section
2(b) that apply even if the Dilutive Issuance occurred prior to the date that is one hundred eighty (180) calendar days after the Issuance
Date. Notwithstanding the foregoing, no adjustment shall occur under this Section 2(b) with respect to the Uplist Offering. “Exempt
Issuance” shall mean the issuance of Common Stock to Megawell USA Technology Investment Fund I LLC (“Megawell”), pursuant
to that certain credit agreement and promissory note dated December 31, 2016, so long as (i) Calvin Pang remains both the managing director
of Megawell and the chief financial officer of the Company and (ii) Megawell’s sale of the Common Stock is subject to the restrictions
on affiliates provided for in Rule 144(e).

 

(c)
Subdivision or Combination of Common Stock. If the Company at any time on or after the Issuance Date subdivides (by any stock
split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number
of shares, the Exercise Price in effect immediately prior to such subdivision will be proportionately reduced and the number of Warrant
Shares will be proportionately increased. If the Company at any time on or after the Issuance Date combines (by combination, reverse
stock split or otherwise) one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the Exercise
Price in effect immediately prior to such combination will be proportionately increased and the number of Warrant Shares will be proportionately
decreased. Any adjustment under this Section 2(c) shall become effective at the close of business on the date the subdivision or combination
becomes effective. Each such adjustment of the Exercise Price shall be calculated to the nearest one-hundredth of a cent. Such adjustment
shall be made successively whenever any event covered by this Section 2(c) shall occur.

 

    	5

    	 

    

 

3.
FUNDAMENTAL TRANSACTIONS. If, at any time while this Warrant is outstanding, (i) the Company effects any merger of the Company
with or into another entity and the Company is not the surviving entity (such surviving entity, the “Successor Entity”),
(ii) the Company effects any sale of all or substantially all of its assets in one or a series of related transactions, (iii) any tender
offer or exchange offer (whether by the Company or by another individual or entity, and approved by the Company) is completed pursuant
to which holders of Common Stock are permitted to tender or exchange their shares of Common Stock for other securities, cash or property
and the holders of at least 50% of the Common Stock accept such offer, or (iv) the Company effects any reclassification of the Common
Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities,
cash or property (other than as a result of a subdivision or combination of shares of Common Stock) (in any such case, a “Fundamental
Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive the number of
shares of Common Stock of the Successor Entity or of the Company and any additional consideration (the “Alternate Consideration”)
receivable upon or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a holder of
the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such event (disregarding any limitation
on exercise contained herein solely for the purpose of such determination). For purposes of any such exercise, the determination of the
Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration
issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price
among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration.
If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then
the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such
Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any Successor Entity in such Fundamental Transaction
shall issue to the Holder a new warrant consistent with the foregoing provisions and evidencing the Holder’s right to exercise
such warrant into Alternate Consideration.

 

4.
NON-CIRCUMVENTION. The Company covenants and agrees that it will not, by amendment of its certificate of incorporation, bylaws
or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities,
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, and will at
all times in good faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights of
the Holder. Without limiting the generality of the foregoing, the Company (i) shall not increase the par value of any shares of Common
Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect, (ii) shall take all such actions as may be
necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable shares of Common Stock
upon the exercise of this Warrant, and (iii) shall, for so long as this Warrant is outstanding, have authorized and reserved, free from
preemptive rights, two (2) times the number of shares of Common Stock into which the Warrants are then exercisable into to provide for
the exercise of the rights represented by this Warrant (without regard to any limitations on exercise).

 

5.
WARRANT HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided herein, this Warrant, in and of itself, shall
not entitle the Holder to any voting rights or other rights as a stockholder of the Company. In addition, nothing contained in this Warrant
shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise)
or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

 

6.
REISSUANCE.

 

(a)
Lost, Stolen or Mutilated Warrant. If this Warrant is lost, stolen, mutilated or destroyed, the Company will, on such terms as
to indemnity or otherwise as it may reasonably impose (which shall, in the case of a mutilated Warrant, include the surrender thereof),
issue a new Warrant of like denomination and tenor as this Warrant so lost, stolen, mutilated or destroyed.

 

    	6

    	 

    

 

(b)
Issuance of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such
new Warrant shall be of like tenor with this Warrant, and shall have an issuance date, as indicated on the face of such new Warrant which
is the same as the Issuance Date.

 

7.
TRANSFER. This Warrant shall be binding upon the Company and its successors and assigns, and shall inure to be the benefit of
the Holder and its successors and assigns. Notwithstanding anything to the contrary herein, the rights, interests or obligations of the
Company hereunder may not be assigned, by operation of law or otherwise, in whole or in part, by the Company without the prior signed
written consent of the Holder, which consent may be withheld at the sole discretion of the Holder (any such assignment or transfer shall
be null and void if the Company does not obtain the prior signed written consent of the Holder). This Warrant or any of the severable
rights and obligations inuring to the benefit of or to be performed by Holder hereunder may be assigned by Holder to a third party, in
whole or in part, without the need to obtain the Company’s consent thereto.

 

8.
NOTICES. Whenever notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall be given
in accordance with the notice provisions contained in the Purchase Agreement. The Company shall provide the Holder with prompt written
notice (i) immediately upon any adjustment of the Exercise Price, setting forth in reasonable detail, the calculation of such adjustment
and (ii) at least 20 days prior to the date on which the Company closes its books or takes a record (A) with respect to any dividend
or distribution upon the shares of Common Stock, (B) with respect to any grants, issuances or sales of any stock or other securities
directly or indirectly convertible into or exercisable or exchangeable for shares of Common Stock or other property, pro rata to the
holders of shares of Common Stock or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation,
provided in each case that such information shall be made known to the public prior to or in conjunction with such notice being provided
to the Holder.

 

9.
AMENDMENT AND WAIVER. The terms of this Warrant may be amended or waived (either generally or in a particular instance and either
retroactively or prospectively) only with the written consent of the Company and the Holder.

 

10.
GOVERNING LAW AND VENUE. This Warrant shall be governed by and construed in accordance with the laws of the State of Nevada without
regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Warrant shall be brought only in the state courts located in Orange County, California or federal courts located in Orange County,
California. The parties to this Warrant hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder
and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR
UNDER ANY OTHER TRANSACTION DOCUMENT ENTERED INTO IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY
OR THEREBY. The prevailing party shall be entitled to recover from the other party its reasonable attorney’s fees and costs.
In the event that any provision of this Warrant or any other agreement delivered in connection herewith is invalid or unenforceable under
any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and
shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under
any law shall not affect the validity or enforceability of any other provision of any agreement. Each party hereby irrevocably waives
personal service of process and consents to process being served in any suit, action or proceeding in connection with this Warrant or
any other transaction document entered into in connection with this Warrant by mailing a copy thereof via registered or certified mail
or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under the Purchase Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall
be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

    	7

    	 

    

 

11.
ACCEPTANCE. Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms and conditions
contained herein.

 

12.
CERTAIN DEFINITIONS. For purposes of this Warrant, the following terms shall have the following meanings:

 

(a)
[Intentionally Omitted].

 

(b)
“Closing Sale Price” means, for any security as of any date, (i) the last closing trade price for such security on
the Principal Market, as reported by Quotestream or other similar quotation service provider designated by the Holder, or, if the Principal
Market begins to operate on an extended hours basis and does not designate the closing trade price, then the last trade price of such
security prior to 4:00 p.m., New York time, as reported by Quotestream or other similar quotation service provider designated by the
Holder, or (ii) if the foregoing does not apply, the last trade price of such security in the over-the-counter market for such security
as reported by Quotestream or other similar quotation service provider designated by the Holder, or (iii) if no last trade price is reported
for such security by Quotestream or other similar quotation service provider designated by the Holder, the average of the bid and ask
prices of any market makers for such security as reported by Quotestream or other similar quotation service provider designated by the
Holder. If the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing
Sale Price of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. All such
determinations to be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during
the applicable calculation period.

 

(c)
“Common Stock” means the Company’s common stock, par value $0.001, and any other class of securities into which
such securities may hereafter be reclassified or changed.

 

(d)
“Common Stock Equivalents” means any securities of the Company that would entitle the holder thereof to acquire at
any time Common Stock, including without limitation any debt, preferred stock, rights, options, warrants or other instrument that is
at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

(e)
[Intentionally Omitted].

 

(f)
“Person” and “Persons” means an individual, a limited liability company, a partnership, a joint
venture, a corporation, a trust, an unincorporated organization, any other entity and any governmental entity or any department or agency
thereof.

 

(g)
“Principal Market” means the principal securities exchange or trading market where such Common Stock is listed or
quoted, including but not limited to any tier of the OTC Markets, any tier of the NASDAQ Stock Market (including NASDAQ Capital Market),
or the NYSE American, or any successor to such markets.

 

(h)
“Market Price” means the highest traded price of the Common Stock during the one hundred and fifty Trading Days prior
to the date of the respective Exercise Notice.

 

(i)
“Trading Day” means any day on which the Common Stock is listed or quoted on its Principal Market, provided, however,
that if the Common Stock is not then listed or quoted on any Principal Market, then any calendar day.

 

*
* * * * * *

 

    	8

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed as of the Issuance Date set forth above.

 

	 	CLEAN
    ENERGY TECHNOLOGIES, INC.
	 	 	 
	 	 	 
	 	Name:	Kambiz
    Mahdi
	 	Title:
    	Chief
    Executive Officer

 

    	 

    	 

    

 

EXHIBIT
A

 

EXERCISE
NOTICE

 

(To
be executed by the registered holder to exercise this Common Stock Purchase Warrant)

 

THE
UNDERSIGNED holder hereby exercises the right to purchase ________________of the shares of Common Stock (“Warrant Shares”)
of CLEAN ENERGY TECHNOLOGIES, INC., a Nevada corporation (the “Company”), evidenced by the attached copy of the Common Stock
Purchase Warrant (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective meanings
set forth in the Warrant.

 

	1.	Form
                                            of Exercise Price. The Holder intends that payment of the Exercise Price shall be made
                                            as (check one):

 

	 	☐	a
    cash exercise with respect to  Warrant Shares; or
	 	☐	by
    cashless exercise pursuant to the Warrant.

 

	2.	Payment
                                            of Exercise Price. If cash exercise is selected above, the holder shall pay the applicable
                                            Aggregate Exercise Price in the sum of $ ___________to the Company in accordance with
                                            the terms of the Warrant.
	 	 
	3.	Delivery
                                            of Warrant Shares. The Company shall deliver to the holder ___________________Warrant
                                            Shares in accordance with the terms of the Warrant.

 

	Date:
    	 	 	 
	 	 	 	 
	 	 	 	(Print
    Name of Registered Holder)
	 	 	 	 	      
	 	 	 	By:	 
	 	 	 	Name:	 
	 	 	 	Title:	 

 

    	 

    	 

    

 

EXHIBIT
B

 

ASSIGNMENT
OF WARRANT

 

(To
be signed only upon authorized transfer of the Warrant)

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers unto ____________________the right to purchase ________________shares
of common stock of CLEAN ENERGY TECHNOLOGIES, INC., to which the within Common Stock Purchase Warrant relates and appoints _____, as
attorney-in-fact, to transfer said right on the books of CLEAN ENERGY TECHNOLOGIES, INC. with full power of substitution and re-substitution
in the premises. By accepting such transfer, the transferee has agreed to be bound in all respects by the terms and conditions of the
within Warrant.

 

	Dated:
    	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	(Signature)
    *
	 	 	 	 
	 	 	 	 
	 	 	 	(Name)
	 	 	 	 
	 	 	 	 
	 	 	 	(Address)
	 	 	 	 
	 	 	 	 
	 	 	 	(Social
    Security or Tax Identification No.)

 

*
The signature on this Assignment of Warrant must correspond to the name as written upon the face of the Common Stock Purchase Warrant
in every particular without alteration or enlargement or any change whatsoever. When signing on behalf of a corporation, partnership,
trust or other entity, please indicate your position(s) and title(s) with such entity.ex47s-3asr

                VECTOR GROUP LTD.    ———————————    INDENTURE    Dated as of ____________, 2022    ———————————    U.S. Bank Trust Company, National Association    Trustee            

 

  i    TABLE OF CONTENTS  Page  ARTICLE I  DEFINITIONS AND INCORPORATION BY REFERENCE  Section 1.1 Definitions..................................................................................................................1  Section 1.2 Other Definitions. ......................................................................................................4  Section 1.3 Incorporation by Reference of Trust Indenture Act. ..................................................5  Section 1.4 Rules of Construction. ...............................................................................................5  ARTICLE II  THE SECURITIES  Section 2.1 Issuable in Series........................................................................................................5  Section 2.2 Establishment of Terms of Series of Securities. ........................................................6  Section 2.3 Execution and Authentication. ...................................................................................8  Section 2.4 Registrar and Paying Agent. ......................................................................................9  Section 2.5 Paying Agent to Hold Money in Trust. ......................................................................10  Section 2.6 Securityholder Lists. ..................................................................................................10  Section 2.7 Transfer and Exchange. .............................................................................................10  Section 2.8 Mutilated, Destroyed, Lost and Stolen Securities. .....................................................11  Section 2.9 Outstanding Securities. ..............................................................................................11  Section 2.10 Treasury Securities.....................................................................................................12  Section 2.11 Temporary Securities. ................................................................................................12  Section 2.12 Cancellation. ..............................................................................................................13  Section 2.13 Defaulted Interest. ......................................................................................................13  Section 2.14 Global Securities. .......................................................................................................13  Section 2.15 CUSIP Numbers.........................................................................................................14  ARTICLE III  REDEMPTION  Section 3.1 Notice to Trustee. .......................................................................................................15  Section 3.2 Selection of Securities to be Redeemed. ....................................................................15  Section 3.3 Notice of Redemption. ...............................................................................................15  Section 3.4 Effect of Notice of Redemption. ................................................................................16  Section 3.5 Deposit of Redemption Price. ....................................................................................17  Section 3.6 Securities Redeemed in Part. .....................................................................................17  ARTICLE IV  COVENANTS  Section 4.1 Payment of Principal and Interest. .............................................................................17  Section 4.2 SEC Reports. ..............................................................................................................17  Section 4.3 Compliance Certificate. .............................................................................................18  Section 4.4 Stay, Extension and Usury Laws. ..............................................................................18  Section 4.5 Corporate Existence. ..................................................................................................18  

 

  ii  ARTICLE V  SUCCESSORS  Section 5.1 When Company May Merge, Etc. .............................................................................19  Section 5.2 Successor Corporation Substituted. ...........................................................................19  ARTICLE VI  DEFAULTS AND REMEDIES  Section 6.1 Events of Default. ......................................................................................................19  Section 6.2 Acceleration of Maturity; Rescission and Annulment. ..............................................21  Section 6.3 Collection of Indebtedness and Suits for Enforcement by Trustee. ...........................21  Section 6.4 Trustee May File Proofs of Claim. ............................................................................22  Section 6.5 Trustee May Enforce Claims Without Possession of Securities. ...............................23  Section 6.6 Application of Money Collected. ...............................................................................23  Section 6.7 Limitation on Suits. ....................................................................................................23  Section 6.8 Unconditional Right of Holders to Receive Principal and Interest............................24  Section 6.9 Restoration of Rights and Remedies. .........................................................................24  Section 6.10 Rights and Remedies Cumulative. .............................................................................24  Section 6.11 Delay or Omission Not Waiver..................................................................................25  Section 6.12 Control by Holders. ....................................................................................................25  Section 6.13 Waiver of Past Defaults. ............................................................................................25  Section 6.14 Undertaking for Costs. ...............................................................................................26  ARTICLE VII  TRUSTEE  Section 7.1 Duties of Trustee. .......................................................................................................26  Section 7.2 Rights of Trustee. .......................................................................................................27  Section 7.3 Individual Rights of Trustee. .....................................................................................29  Section 7.4 Trustee’s Disclaimer. .................................................................................................29  Section 7.5 Notice of Defaults. .....................................................................................................29  Section 7.6 Reports by Trustee to Holders. ..................................................................................29  Section 7.7 Compensation and Indemnity. ...................................................................................29  Section 7.8 Replacement of Trustee. ............................................................................................30  Section 7.9 Successor Trustee by Merger, Etc. ............................................................................31  Section 7.10 Eligibility; Disqualification. ......................................................................................31  Section 7.11 Preferential Collection of Claims Against Company. ................................................31  ARTICLE VIII  SATISFACTION AND DISCHARGE; DEFEASANCE  Section 8.1 Satisfaction and Discharge of Indenture. ...................................................................32  Section 8.2 Application of Trust Funds; Indemnification. ...........................................................33  Section 8.3 Legal Defeasance of Securities of any Series. ...........................................................33  Section 8.4 Covenant Defeasance. ................................................................................................35  Section 8.5 Repayment to Company. ............................................................................................36  Section 8.6 Reinstatement. ............................................................................................................36  

 

  iii  ARTICLE IX  AMENDMENTS AND WAIVERS  Section 9.1 Without Consent of Holders. .....................................................................................37  Section 9.2 With Consent of Holders. ..........................................................................................37  Section 9.3 Limitations. ................................................................................................................38  Section 9.4 Compliance with Trust Indenture Act. .......................................................................39  Section 9.5 Revocation and Effect of Consents. ...........................................................................39  Section 9.6 Notation on or Exchange of Securities. .....................................................................39  Section 9.7 Trustee Protected. ......................................................................................................39  ARTICLE X  MISCELLANEOUS  Section 10.1 Trust Indenture Act Controls. ....................................................................................40  Section 10.2 Notices. ......................................................................................................................40  Section 10.3 Communication by Holders with Other Holders. ......................................................41  Section 10.4 Certificate and Opinion as to Conditions Precedent. .................................................41  Section 10.5 Statements Required in Certificate or Opinion. .........................................................41  Section 10.6 Rules by Trustee and Agents. ....................................................................................42  Section 10.7 Legal Holidays. ..........................................................................................................42  Section 10.8 No Recourse Against Others. .....................................................................................42  Section 10.9 Counterparts. ..............................................................................................................42  Section 10.10 Governing Law; Jury Trial Waiver. ...........................................................................42  Section 10.11 No Adverse Interpretation of Other Agreements. ......................................................43  Section 10.12 Successors. .................................................................................................................43  Section 10.13 Severability. ...............................................................................................................43  Section 10.14 Table of Contents, Headings, Etc. .............................................................................43  Section 10.15 Securities in a Foreign Currency. ...............................................................................43  Section 10.16 Judgment Currency. ...................................................................................................44  Section 10.17 Force Majeure. ...........................................................................................................44  Section 10.18 U.S.A. Patriot Act. .....................................................................................................44  ARTICLE XI  SINKING FUNDS  Section 11.1 Applicability of Article. .............................................................................................45  Section 11.2 Satisfaction of Sinking Fund Payments with Securities. ...........................................45  Section 11.3 Redemption of Securities for Sinking Fund...............................................................46       

 

  iv  VECTOR GROUP LTD.  Reconciliation and tie between Trust Indenture Act of 1939 and  Indenture, dated as of ________, 2022  § 310(a)(1) ......................................................................................................... 7.10  (a)(2) .................................................................................................................. 7.10  (a)(3) .................................................................................................................. Not Applicable  (a)(4) .................................................................................................................. Not Applicable  (a)(5) .................................................................................................................. 7.10  (b) ....................................................................................................................... 7.10  § 311(a) .............................................................................................................. 7.11  (b) ....................................................................................................................... 7.11     § 312(a) .............................................................................................................. 2.6  (b) ....................................................................................................................... 10.3  (c) ....................................................................................................................... 10.3  § 313(a) .............................................................................................................. 7.6  (b)(1) .................................................................................................................. 7.6  (b)(2) .................................................................................................................. 7.6  (c) ....................................................................................................................... 7.6  (d) ....................................................................................................................... 7.6  § 314(a) .............................................................................................................. 4.2, 10.5  (b) ....................................................................................................................... Not Applicable  (c)(1) .................................................................................................................. 10.4  (c)(2) .................................................................................................................. 10.4  (c)(3) .................................................................................................................. Not Applicable  (d) ....................................................................................................................... Not Applicable  (e) ....................................................................................................................... 10.5  (f)........................................................................................................................ Not Applicable  § 315(a) .............................................................................................................. 7.1  (b) ....................................................................................................................... 7.5  (c) ....................................................................................................................... 7.1  (d) ....................................................................................................................... 7.1  (e) ....................................................................................................................... 6.14  § 316(a) .............................................................................................................. 2.10  (a)(1)(A) ............................................................................................................. 6.12  (a)(1)(B) ............................................................................................................. 6.13  (b) ....................................................................................................................... 6.8  § 317(a)(1) ......................................................................................................... 6.3  (a)(2) .................................................................................................................. 6.4  (b) ....................................................................................................................... 2.5  § 318(a) .............................................................................................................. 10.1     Note: This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture.    

 

    Indenture dated as of ________, 2022 between VECTOR GROUP LTD., a  company incorporated under the laws of the State of Delaware (“Company”), and U.S. Bank  Trust Company, National Association, a national banking association (“Trustee”).  Each party agrees as follows for the benefit of the other party and for the equal  and ratable benefit of the Holders of the Securities issued under this Indenture.  ARTICLE I  DEFINITIONS AND INCORPORATION BY REFERENCE  Section 1.1 Definitions.  “Additional Amounts” means any additional amounts which are required hereby  or by any Security, under circumstances specified herein or therein, to be paid by the Company  in respect of certain taxes imposed on Holders specified herein or therein and which are owing to  such Holders.  “Affiliate” of any specified person means any other person directly or indirectly  controlling or controlled by or under common control with such specified person. For the  purposes of this definition, “control” (including, with correlative meanings, the terms “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 or by agreement or  otherwise.  “Agent” means any Registrar, Paying Agent or Notice Agent.  “Board of Directors” means the board of directors of the Company or any duly  authorized committee thereof.  “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, unless otherwise provided by Board Resolution, Officer’s  Certificate or supplemental indenture hereto for a particular Series, any day except a Saturday,  Sunday or a legal holiday in The City of New York (or in connection with any payment, the  place of payment) on which banking institutions are authorized or required by law, regulation or  executive order to close.  “Capital Stock” means any and all shares, interests, participations, rights or other  equivalents (however designated) of corporate stock.  “Company” means the party named as such above until a successor, which duly  assumes the obligations under the Indenture, replaces it and thereafter means the successor.  

 

  2  “Company Order” means a written order signed in the name of the Company by  an Officer.  “Corporate Trust Office” means the office of the Trustee at which at any  particular time its corporate trust business related to this Indenture shall be principally  administered.  “Default” means any event which is, or after notice or passage of time or both  would be, an Event of Default.  “Depositary” means, with respect to the Securities of any Series issuable or issued  in whole or in part in the form of one or more Global Securities, the person designated as  Depositary for such Series by the Company, which Depositary shall be a clearing agency  registered under the Exchange Act; and if at any time there is more than one such person,  “Depositary” as used with respect to the Securities of any Series shall mean the Depositary with  respect to the Securities of such Series.  “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 6.2.  “Dollars” and “$” means the currency of The United States of America.  “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.  “Foreign Government Obligations” means, with respect to Securities of any  Series that are denominated in a Foreign Currency, direct obligations of, or obligations  guaranteed by, the government that issued or caused to be issued such currency for the payment  of which obligations its full faith and credit is pledged and which are not callable or redeemable  at the option of the issuer thereof.  “GAAP” means accounting principles generally accepted in the United States of  America set forth in the opinions and pronouncements of the Accounting Principles Board of the  American Institute of Certified Public Accountants and statements and pronouncements of the  Financial Accounting Standards Board or in such other statements by such other entity as have  been approved by a significant segment of the accounting profession, which are in effect as of  the date of determination.  “Global Security” or “Global Securities” means a Security or Securities, as the  case may be, in the form established pursuant to Section 2.2 evidencing all or part of a Series of  Securities, issued to the Depositary for such Series or its nominee, and registered in the name of  such Depositary or nominee.  “Holder” or “Securityholder” means a person in whose name a Security is  registered.  

 

  3  “Indenture” means this Indenture as amended or supplemented from time to time  and shall include the form and terms of particular Series of Securities established as  contemplated hereunder.  “interest” means, with respect to any Security, any interest on such Security, and  with respect to any Discount Security which by its terms bears interest only after Maturity,  means interest payable after Maturity.  “Maturity,” when used with respect to any Security, means the date on which the  principal of such Security becomes due and payable as therein or herein provided, whether at the  Stated Maturity or by declaration of acceleration, call for redemption or otherwise.  “Officer” means the Chief Executive Officer, President, the Chief Financial  Officer, the Treasurer or any Assistant Treasurer, the Secretary or any Assistant Secretary, and  any Vice President of the Company.  “Officer’s Certificate” means a certificate signed by any Officer and delivered to  the Trustee.  “Opinion of Counsel” means a written opinion of legal counsel. The counsel may  be an employee of or counsel to the Company.  “person” means any individual, corporation, partnership, joint venture,  association, limited liability company, joint-stock company, trust, unincorporated organization or  government or any agency or political subdivision thereof.  “principal” of a Security means the principal of the Security plus, when  appropriate, the premium, if any, on, and any Additional Amounts in respect of, the Security.  “Responsible Officer” means any officer of the Trustee in its Corporate Trust  Office having responsibility for administration of this Indenture and also means, with respect to a  particular corporate trust matter, any other officer to whom any corporate trust matter is referred  because of his or her knowledge of and familiarity with a particular subject and who shall have  direct responsibility for the administration of this Indenture.  “SEC” means the Securities and Exchange Commission.  “Securities” means the debentures, notes or other debt instruments of the  Company of any Series authenticated and delivered under this Indenture.  “Series” or “Series of Securities” means each series of debentures, notes or other  debt instruments of the Company created pursuant to Sections 2.1 and 2.2.  “Stated Maturity” when used with respect to any Security, means the date  specified in such Security as the fixed date on which the principal of such Security or interest is  due and payable.  

 

  4  “Subsidiary” of any specified person means any corporation, association or other  business entity of which more than 50% of the total voting power of shares of Capital Stock  entitled (without regard to the occurrence of any contingency) to vote in the election of directors,  managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such  person or one or more of the other Subsidiaries of that person or a combination thereof.  “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as  in effect on the date of this Indenture; provided, however, that in the event the Trust Indenture  Act of 1939 is amended after such date, “TIA” means, to the extent required by any such  amendment, the Trust Indenture Act as so amended.  “Trustee” means the person named as the “Trustee” in the first paragraph of this  instrument until a successor Trustee shall have become such pursuant to the applicable  provisions of this Indenture, and thereafter “Trustee” shall mean or include each person who is  then a Trustee hereunder, and if at any time there is more than one such person, “Trustee” as  used with respect to the Securities of any Series shall mean the Trustee with respect to Securities  of that Series.  “U.S. Government Obligations” means securities which are direct obligations of,  or guaranteed by, The United States of America for the payment of which its full faith and credit  is pledged and which are not callable or redeemable at the option of the issuer thereof, and shall  also include a depository receipt issued by a bank or trust company as custodian with respect to  any such U.S. Government Obligation or a specific payment of interest on or principal of any  such U.S. Government Obligation held by such custodian for the account of the holder of a  depository receipt, provided that (except as required by law) such custodian is not authorized to  make any deduction from the amount payable to the holder of such depository receipt from any  amount received by the custodian in respect of the U.S. Government Obligation evidenced by  such depository receipt.  Section 1.2 Other Definitions.  TERM  DEFINED IN   SECTION  “Bankruptcy Law” ................................................................... 6.1  “Custodian” ............................................................................. 6.1  “Event of Default” ................................................................... 6.1  “Judgment Currency” .............................................................. 10.16  “Legal Holiday” ....................................................................... 10.7  “mandatory sinking fund payment” ......................................... 11.1  “Market Exchange Rate” ......................................................... 10.15  “New York Banking Day” ........................................................ 10.16  “Notice Agent” ......................................................................... 2.4  “optional sinking fund payment” ............................................. 11.1  “Paying Agent” ........................................................................ 2.4  “Registrar” .............................................................................. 2.4  “Required Currency” ............................................................... 10.16  “successor person” ................................................................ 5.1  

 

  5    Section 1.3 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:  “Commission” means the SEC.  “indenture securities” means the Securities.  “indenture security holder” means a Securityholder.  “indenture to be qualified” means this Indenture.  “indenture trustee” or “institutional trustee” means the Trustee.  “obligor” on the indenture 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 and not otherwise defined  herein are used herein as so defined.  Section 1.4 Rules of Construction.  Unless the context otherwise requires:  (a) a term has the meaning assigned to it;  (b) an accounting term not otherwise defined has the meaning assigned to it in  accordance with GAAP;  (c) “or” is not exclusive;  (d) words in the singular include the plural, and in the plural include the  singular; and  (e) provisions apply to successive events and transactions.  ARTICLE II  THE SECURITIES  Section 2.1 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 or determined in the  manner provided in a Board Resolution, supplemental indenture hereto or Officer’s Certificate  

 

  6  detailing the adoption of the terms thereof pursuant to authority granted under a Board  Resolution. In the case of Securities of a Series to be issued from time to time, the Board  Resolution, Officer’s Certificate or supplemental indenture detailing the adoption of the terms  thereof pursuant to authority granted under a Board Resolution 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, provided that all Series of Securities shall be equally and ratably entitled to the benefits  of the Indenture.  Section 2.2 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 2.2.1 and either as to such  Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through  2.2.23) by or pursuant to a Board Resolution, and set forth or determined in the manner provided  in a Board Resolution, supplemental indenture hereto or Officer’s Certificate:  2.2.1. the title (which shall distinguish the Securities of that particular Series  from the Securities of any other Series) and ranking (including the terms of any subordination  provisions) of the Series;  2.2.2. the price or prices (expressed as a percentage of the principal amount  thereof) at which the Securities of the Series will be issued;  2.2.3. any limit upon the aggregate principal amount of the Securities of the  Series which may be authenticated and delivered under this Indenture (except for Securities  authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of,  other Securities of the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6);  2.2.4. the date or dates on which the principal of the Securities of the Series is  payable;  2.2.5. the rate or rates (which may be fixed or variable) per annum or, if  applicable, the method used to determine such rate or rates (including, but not limited to, any  commodity, commodity index, stock exchange index or financial index) at which the Securities  of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall  accrue, the date or dates on which such interest, if any, shall commence and be payable and any  regular record date for the interest payable on any interest payment date;  2.2.6. the place or places where the principal of and interest, if any, on the  Securities of the Series shall be payable, where the Securities of such Series may be surrendered  for registration of transfer or exchange and where notices and demands to or upon the Company  in respect of the Securities of such Series and this Indenture may be delivered, and the method of  such payment, if by wire transfer, mail or other means;  2.2.7. if applicable, the period or periods within which, the price or prices at  which and the terms and conditions upon which the Securities of the Series may be redeemed, in  whole or in part, at the option of the Company;  

 

  7  2.2.8. the obligation, if any, of the Company to redeem or purchase the  Securities of the Series pursuant to any sinking fund or analogous provisions or at the option of a  Holder thereof and the period or periods within which, the price or prices at which and the terms  and conditions upon which Securities of the Series shall be redeemed or purchased, in whole or  in part, pursuant to such obligation;  2.2.9. the dates, if any, on which and the price or prices at which the  Securities of the Series will be repurchased by the Company at the option of the Holders thereof  and other detailed terms and provisions of such repurchase obligations;  2.2.10. if other than denominations of $1,000 and any integral multiple thereof,  the denominations in which the Securities of the Series shall be issuable;  2.2.11. the forms of the Securities of the Series and whether the Securities will  be issuable as Global Securities;  2.2.12. 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 6.2;  2.2.13. the currency of denomination of the Securities of the Series, which may  be Dollars or any Foreign Currency, and if such currency of denomination is a composite  currency, the agency or organization, if any, responsible for overseeing such composite currency;  2.2.14. the designation of the currency, currencies or currency units in which  payment of the principal of and interest, if any, on the Securities of the Series will be made;  2.2.15. if payments of principal of or interest, if any, on the Securities of the  Series are to be made in one or more currencies or currency units other than that or those in  which such Securities are denominated, the manner in which the exchange rate with respect to  such payments will be determined;  2.2.16. the manner in which the amounts of payment of principal of or interest,  if any, on the Securities of the Series will be determined, if such amounts may be determined by  reference to an index based on a currency or currencies or by reference to a commodity,  commodity index, stock exchange index or financial index;  2.2.17. the provisions, if any, relating to any security provided for the  Securities of the Series;  2.2.18. any addition to, deletion of 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 Securities to declare the principal amount thereof due and payable pursuant to  Section 6.2;  2.2.19. any addition to, deletion of or change in the covenants set forth in  Articles IV or V which applies to Securities of the Series;  

 

  8  2.2.20. any Depositaries, interest rate calculation agents, exchange rate  calculation agents or other agents with respect to Securities of such Series if other than those  appointed herein;  2.2.21. the provisions, if any, relating to conversion or exchange of any  Securities of such Series, including if applicable, the conversion or exchange price, the  conversion or exchange period, the securities or other property into which the Securities will be  convertible, provisions as to whether conversion or exchange will be mandatory, at the option of  the Holders thereof or at the option of the Company, the events requiring an adjustment of the  conversion price or exchange price and provisions affecting conversion or exchange if such  Series of Securities are redeemed;  2.2.22. any other terms of the Series (which may supplement, modify or delete  any provision of this Indenture insofar as it applies to such Series), including any terms that may  be required under applicable law or regulations or advisable in connection with the marketing of  Securities of that Series; and  2.2.23. whether any of the Company’s direct or indirect Subsidiaries will  guarantee the Securities of that Series, including the terms of subordination, if any, of such  guarantees.  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 hereto or Officer’s Certificate referred  to above.  Section 2.3 Execution and Authentication.  Two Officers 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  hereto or Officer’s Certificate, upon receipt by the Trustee of a Company Order. Each Security  shall be dated the date of its authentication.  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 hereto or Officer’s Certificate delivered pursuant  to Section 2.2, except as provided in Section 2.8.  

 

  9  Prior to the issuance of Securities of any Series, the Trustee shall have received  and (subject to Section 7.2) shall be fully protected in conclusively relying on: (a) the Board  Resolution, supplemental indenture hereto or Officer’s Certificate delivered pursuant to Section  2.2 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 of Securities within that Series, (b) an Officer’s  Certificate complying with Section 10.4, and (c) an Opinion of Counsel complying with Section  10.4.  The Trustee shall have the right, but not the obligation, 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 be taken lawfully; or (b) if the Trustee in good faith determines that  such action would expose the Trustee to personal liability to Holders of any then outstanding  Series of Securities.  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 of the Company.  Section 2.4 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 2.2, 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 surrendered for registration of transfer or 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 delivered (“Notice 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 or address, of each Registrar, Paying Agent or Notice Agent. If at any time  the Company shall fail to maintain any such required Registrar, Paying Agent or Notice 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 notice 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 Notice Agent in  each place so specified pursuant to Section 2.2 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 notice agent. The term “Registrar” includes any co-registrar; the term  “Paying Agent” includes any additional paying agent; and the term “Notice Agent” includes any  

 

  10  additional notice agent. The Company or any of its Affiliates may serve as Registrar or Paying  Agent.  The Company hereby appoints the Trustee as the initial Registrar, Paying Agent  and Notice Agent for each Series unless another Registrar, Paying Agent or Notice Agent, as the  case may be, is appointed prior to the time Securities of that Series are first issued.  Section 2.5 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 Securityholders 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 in writing 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 of the Company) shall  have no further liability for the money. If the Company or a Subsidiary of the Company acts as  Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of  Securityholders of any Series of Securities all money held by it as Paying Agent. Upon any  bankruptcy, reorganization or similar proceeding with respect to the Company, the Trustee shall  serve as Paying Agent for the Securities.  Section 2.6 Securityholder 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 Securityholders of each Series of  Securities and shall otherwise comply with TIA § 312(a). If the Trustee is not the Registrar, the  Company shall furnish to the Trustee at least ten 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 Securityholders of each Series  of Securities.  Section 2.7 Transfer and Exchange.  Where 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 tax or similar  governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6). Each Holder  that is a transferor of a Security shall provide or cause to be provided to the Trustee all  information necessary to allow the Trustee to comply with any applicable tax reporting  obligations, including without limitation any cost basis reporting obligations under Internal  

 

  11  Revenue Code Section 6045.  The Trustee may rely on information provided to it and shall have  no responsibility to verify or ensure the accuracy of such information.  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 of or exchange Securities 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 2.8 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  bond as may be required by each of them to hold itself and any of its agents 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 receipt of a Company Order 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.  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 that Series duly issued hereunder.  The provisions of this Section are exclusive and shall preclude (to the extent  lawful) all other rights and remedies with respect to the replacement or payment of mutilated,  destroyed, lost or stolen Securities.  Section 2.9 Outstanding Securities.  

 

  12  The Securities outstanding at any time are all the Securities authenticated by the  Trustee except for those canceled by the Registrar, those delivered to it for cancellation, those  reductions in the interest on a Global Security effected by the Trustee in accordance with the  provisions hereof and those described in this Section as not outstanding.  If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until  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 of the Company or an  Affiliate of the Company) holds on the Maturity of Securities of a Series money sufficient to pay  such Securities payable on that date, then on and after that date such Securities of the Series  cease to be outstanding and interest on them ceases to accrue.  The Company may purchase or otherwise acquire the Securities, whether by open  market purchases, negotiated transactions or otherwise. A Security does not cease to be  outstanding because the Company or an Affiliate of the Company holds the Security.  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 a Discount Security that shall be deemed to be  outstanding for such purposes shall be the amount of the principal thereof that would be due and  payable as of the date of such determination upon a declaration of acceleration of the Maturity  thereof pursuant to Section 6.2.  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, direction, notice, consent or  waiver, Securities of a Series owned by the Company or any Affiliate of the Company shall be  disregarded, except that for the purposes of determining whether the Trustee shall be protected in  conclusively relying on any such request, demand, authorization, direction, notice, consent or  waiver, only Securities of a Series that a Responsible Officer of the Trustee actually knows are  so owned shall be so disregarded. Securities so owned which have been pledged in good faith  shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee’s  right to deliver any such request, demand, authorization, direction, notice, consent or waiver with  respect to the Securities and that the pledgee is not the Company or any other obligor upon the  Securities or any Affiliate of the Company or of such other obligor.  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 upon receipt of a Company Order shall authenticate  definitive Securities of the same Series and date of maturity in exchange for temporary  

 

  13  Securities. Until so exchanged, temporary securities shall have 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 the Paying Agent, if not the Trustee, 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 transfer, exchange, payment, replacement, conversion  or cancellation and shall dispose of such canceled Securities (subject to the record retention  requirement of the Exchange Act and the Trustee) in accordance with its customary procedures  and deliver evidence of such cancellation to the Company upon written request of the Company.  The Company may not issue new Securities to replace Securities that it has paid or 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 may  pay the defaulted interest, plus, to the extent permitted by law, any interest payable on the  defaulted interest, to the persons who are Securityholders of the Series on a subsequent special  record date. The Company shall fix the record date and payment date. At least 10 days before the  special record date, the Company shall mail to the Trustee and to each Securityholder of the  Series a notice that states the special record date, the payment date and the amount of interest to  be paid. The Company may pay defaulted interest in any other lawful manner.  Section 2.14 Global Securities.  2.14.1. Terms of Securities. A Board Resolution, a supplemental indenture  hereto or an Officer’s 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.  2.14.2. Transfer and Exchange. Notwithstanding any provisions to the contrary  contained in Section 2.7 of the Indenture and in addition thereto, any Global Security shall be  exchangeable pursuant to Section 2.7 of the Indenture 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  registered as a clearing agency under the Exchange Act within 90 days of such event or (ii) the  Company executes and delivers to the Trustee an Officer’s Certificate to the effect that such  Global Security shall be so exchangeable. 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. Each Holder that is a transferor of a Security  shall provide or cause to be provided to the Trustee all information necessary to allow the  Trustee to comply with any applicable tax reporting obligations, including without limitation any  

 

  14  cost basis reporting obligations under Internal Revenue Code Section 6045.  The Trustee may  rely on information provided to it and shall have no responsibility to verify or ensure the  accuracy of such information.  Except as provided in this Section 2.14.2, 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.  2.14.3. Legend. Any Global Security issued hereunder shall bear a legend in  substantially the following form:  “This Security is a Global Security within the meaning of the Indenture  hereinafter referred to and is registered in the name of the Depositary or a nominee of the  Depositary. This Security is exchangeable for Securities registered in the name of a person other  than the Depositary or its nominee only in the limited circumstances described in the Indenture,  and may not be transferred except as a whole by the Depositary to a nominee of the Depositary,  by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the  Depositary or any such nominee to a successor Depositary or a nominee of such a successor  Depositary.”  2.14.4. Acts of Holders. The Depositary, as a Holder, may appoint agents and  otherwise authorize participants to give or take any request, demand, authorization, direction,  notice, consent, waiver or other action which a Holder is entitled to give or take under the  Indenture.  2.14.5. Payments. Notwithstanding the other provisions of this Indenture,  unless otherwise specified as contemplated by Section 2.2, payment of the principal of and  interest, if any, on any Global Security shall be made to the Holder thereof.  2.14.6. Consents, Declaration and Directions. 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 or by the applicable procedures of such 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 Trustee shall have no liability for any defect in the  

 

  15  “CUSIP” numbers as they appear on any Security, notice or elsewhere. The Company will  promptly notify the Trustee in writing of any change in the “CUSIP” numbers.  ARTICLE III  REDEMPTION  Section 3.1 Notice 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 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 in writing of the redemption  date and the principal amount of Series of Securities to be redeemed. The Company shall give  the notice to the Trustee at least 20 days before the redemption date, unless a shorter period is  satisfactory to the Trustee, conditioned upon the delivery by the Company of a notice of  redemption in accordance with Section 3.3.  Section 3.2 Selection of Securities to be Redeemed.  Unless otherwise indicated for a particular Series by a Board Resolution, a  supplemental indenture hereto or an Officer’s Certificate, if less than all the Securities of a Series  are to be redeemed, the Trustee shall select the Securities of the Series to be redeemed in any  manner that the Trustee deems fair and appropriate, including selecting pro rata, by lot or other  method, unless otherwise required by law or applicable stock exchange requirements, subject, in  the case of Global Securities, to the applicable rules and procedures of the Depositary. The  Trustee shall make the selection from Securities of the Series outstanding not previously called  for redemption. The Trustee may select for redemption portions of the principal of Securities of  the Series that have denominations larger than $1,000. Securities of the Series and portions of  them it selects shall be in amounts of $1,000 or whole multiples of $1,000 or, with respect to  Securities of any Series issuable in other denominations pursuant to Section 2.2.10, the minimum  principal denomination for each Series and the authorized integral multiples thereof. Provisions  of this Indenture that apply to Securities of a Series called for redemption also apply to portions  of Securities of that Series called for redemption.  Section 3.3 Notice of Redemption.  Unless otherwise indicated for a particular Series by Board Resolution, a  supplemental indenture hereto or an Officer’s Certificate, at least 15 days but not more than 60  days before a redemption date, the Company shall mail a notice of redemption by first-class mail  to each Holder whose Securities are to be redeemed.  The notice shall identify the Securities of the Series to be redeemed and shall  state:  (a) the redemption date;  

 

  16  (b) the redemption price;  (c) the name and address of the Paying Agent and, if applicable, the  conversion Agent;  (d) for convertible Securities, the conversion price;  (e) if any Securities are being redeemed in part, the portion of the principal  amount of such Securities to be redeemed and that, after the redemption date and upon  surrender of such Security, a new Security or Securities in principal amount equal to the  unredeemed portion of the original Security shall be issued in the name of the Holder  thereof upon cancellation of the original Security;  (f) that Securities of the Series (or portion thereof) called for redemption must  be surrendered to the Paying Agent to collect the redemption price;  (g) that interest on Securities of the Series called for redemption ceases to  accrue on and after the redemption date unless the Company defaults in the deposit of the  redemption price;  (h) the CUSIP number, if any, and state that no representation is made as to  the correctness or accuracy of the CUSIP number, if any, listed in the SEC’s notice or  printed on the Securities; and  (i) any other information as may be required by the terms of the particular  Series or the Securities of a Series being redeemed.  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 has delivered to the  Trustee, at least 10 days (unless a shorter time shall be acceptable to the Trustee) prior to the  notice date, an Officer’s Certificate requesting that the Trustee give such notice and setting forth  the information to be stated in such notice.  Notices of redemption pursuant to Section 3.3 may be subject to the satisfaction  of one or more conditions precedent established by the Company in its sole discretion.  Section 3.4 Effect of Notice of Redemption.  Once notice of redemption is mailed as provided in Section 3.3, Securities of a  Series called for redemption become due and payable on the redemption date and at the  redemption price. Except as otherwise provided in the supplemental indenture, Board Resolution  or Officer’s Certificate for a Series, a notice of redemption may be conditional. Upon surrender  to the Paying Agent, such Securities shall be paid at the redemption price plus accrued interest to  the redemption date other than Securities or portions of Securities called for redemption which  have been delivered by the Company to the Registrar for cancellation. The Paying Agent shall  return to the Company any money not required for that purpose because of conversion of  Securities. The Paying Agent shall return to the Company any money not required for that  purpose because of conversion of Securities.  

 

  17  Unless the Company shall default in the payment of Securities (and accrued  interest) called for redemption, interest on such Securities shall cease to accrue after the  redemption date. Convertible Securities called for redemption shall cease to be convertible after  the close of business on the Business Day immediately preceding the redemption date (unless the  redemption date is also a record date for an interest payment, in which event they may be  converted through the redemption date), unless the Company shall default in the payment of such  Securities on the redemption date, in which event the Securities shall remain convertible until  paid (together with accrued interest).  Failure to give notice of any defect in the notice to any Holder shall not affect the  validity of notice to any Holder other than Securities or portions of Securities called for  redemption which have been delivered by the Company to the Registrar for cancellation.  Section 3.5 Deposit of Redemption Price.  On or before 10:00 a.m., New York City time, on the redemption date, the  Company shall deposit with the Paying Agent money sufficient to pay the redemption price of  and accrued interest, if any, on all Securities to be redeemed on that date.  Section 3.6 Securities Redeemed in Part.  Upon surrender of a Security that is redeemed in part, the Trustee shall  authenticate for the Holder a new Security of the same Series and the same maturity equal in  principal amount to the unredeemed portion of the Security surrendered.  ARTICLE IV  COVENANTS  Section 4.1 Payment of Principal and Interest.  The Company covenants and agrees for the benefit of the Holders of each Series  of Securities that it will duly and punctually pay the principal of and interest, if any, on the  Securities of that Series in accordance with the terms of such Securities and this Indenture. On or  before 10:00 a.m., New York City time, on the applicable payment date, the Company shall  deposit with the Paying Agent money sufficient to pay the principal of and interest, if any, on the  Securities of each Series in accordance with the terms of such Securities and this Indenture.  Principal and interest shall be considered paid on the date due if the Paying Agent holds in  accordance with this Indenture on that date money sufficient to pay all principal and interest then  due and the Paying Agent is not prohibited from paying such money to the Holders on such date  pursuant to the terms of this Indenture.  Section 4.2 SEC Reports.  To the extent any Securities of a Series are outstanding, the Company shall  deliver to the Trustee within 15 days after it files them with the SEC copies of the annual reports  and of the information, documents, and other reports (or copies of such portions of any of the  foregoing as the SEC may by rules and regulations prescribe) which the Company is required to  file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. The Company also shall  

 

  18  comply with the other provisions of TIA § 314(a) as applicable at the time. Reports, information  and documents filed with the SEC via the EDGAR system will be deemed to be delivered to the  Trustee as of the time of such filing via EDGAR for purposes of this Section 4.2; provided,  however, that the Trustee shall have no obligation whatsoever to determine whether or not such  information, documents or reports have been filed via EDGAR.  Delivery of reports, information and documents to the Trustee under this Section  4.2 are for informational purposes only and the Trustee’s receipt of the foregoing shall not  constitute constructive or actual notice of any information contained therein or determinable  from information contained therein, including the Company’s compliance with any of their  covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s  Certificates).  Section 4.3 Compliance Certificate.  To the extent any Securities of a Series are outstanding, the Company shall  deliver to the Trustee, within 120 days after the end of each fiscal year of the Company, an  Officer’s Certificate from its principal executive officer, principal financial officer or principal  accounting officer 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 the Company 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/her knowledge the Company has kept, observed, performed and  fulfilled each and every covenant contained in this Indenture and is not in default in the  performance or observance of any of the terms, provisions and conditions hereof (or, if a Default  or Event of Default shall have occurred, describing all such Defaults or Events of Default of  which the Officer may have knowledge).  Section 4.4 Stay, Extension and Usury Laws.  The Company covenants (to the extent that it may lawfully do so) that it will not  at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or  advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in  force, which may affect the covenants or the performance of this Indenture or the Securities; and  the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or  advantage of any such law and covenants that it will not, by resort to any such law, hinder, delay  or impede the execution of any power herein granted to the Trustee, but will suffer and permit  the execution of every such power as though no such law has been enacted.  Section 4.5 Corporate Existence.  Subject to Article V, the Company will do or cause to be done all things necessary  to preserve and keep in full force and effect its corporate existence and rights (charter and  statutory); provided, however, that the Company shall not be required to preserve any such right  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.  

 

  19  ARTICLE V  SUCCESSORS  Section 5.1 When Company May Merge, Etc.  The Company shall not consolidate with or merge with or into, or convey, transfer  or lease all or substantially all of its assets to, any person (a “successor person”) unless:  (a) the Company is the surviving corporation or the successor person (if other  than the Company) is a corporation organized and validly existing under the laws of any  U.S. domestic jurisdiction and expressly assumes the Company’s obligations on the  Securities and under this Indenture; and  (b) immediately after giving effect to the transaction, no Default or Event of  Default, shall have occurred and be continuing.  The Company shall deliver to the Trustee prior to the consummation of the  proposed transaction an Officer’s Certificate to the foregoing effect and an Opinion of Counsel  stating that the proposed transaction and any supplemental indenture comply with Section 5.1 of  this Indenture.  Notwithstanding the above, any Subsidiary of the Company may consolidate with,  merge into or transfer all or part of its properties to the Company. Neither an Officer’s  Certificate nor an Opinion of Counsel shall be required to be delivered in connection therewith.  Section 5.2 Successor Corporation Substituted.  Upon any consolidation or merger, or any conveyance, transfer, or lease of all or  substantially all of the assets of the Company in accordance with Section 5.1, the successor  corporation formed by such consolidation or into or with which the Company is merged or to  which such conveyance, transfer, or lease is made shall succeed to, and be substituted for, and  may exercise every right and power of, the Company under this Indenture and the Securities with  the same effect as if such successor person has been named as the Company herein; provided,  however, that the predecessor Company in the case of a conveyance or transfer (other than a  lease) shall be released from all obligations and covenants under this Indenture and the  Securities.  ARTICLE VI  DEFAULTS AND REMEDIES  Section 6.1 Events of Default.  “Event of Default,” wherever used herein with respect to Securities of any Series,  means any one of the following events, unless in the establishing Board Resolution,  supplemental indenture or Officer’s Certificate, it is provided that such Series shall not have the  benefit of said Event of Default:  

 

  20  (a) default in the payment of any interest on any Security of that Series when  it becomes due and payable, and continuance of such default for a period of 30 days  (unless the entire amount of such payment is deposited by the Company with the Trustee  or with a Paying Agent prior to 10:00 a.m., New York City time, on the 30th day of such  period); or  (b) default in the payment of principal of any Security of that Series at its  Maturity; or  (c) default in the performance or breach of any covenant of the Company in  this Indenture (other than defaults pursuant to paragraphs (a) or (b) above or pursuant to a  covenant that has been included in this Indenture solely for the benefit of Series of  Securities other than that Series), which default continues uncured for a period of 60 days  after there has been given, by registered or certified mail, to the Company by the Trustee  or to the Company and the Trustee by the Holders of at least 25% in principal amount of  the outstanding Securities of that Series a written notice specifying such default or breach  and requiring it to be remedied and stating that such notice is a “Notice of Default”  hereunder; or  (d) the Company 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,  (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.  (e) a court of competent jurisdiction enters an order or decree under any  Bankruptcy Law that:  (i) is for relief against the Company in an involuntary case,  (ii) appoints a Custodian of the Company or for all or substantially all  of its property, or  (iii) orders the liquidation of the Company,  and the order or decree remains unstayed and in effect for 60 days; or  (f) any other Event of Default provided with respect to Securities of that  Series, which is specified in a Board Resolution, a supplemental indenture hereto or an  Officer’s Certificate, in accordance with Section 2.2.18.  

 

  21  The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or  State law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee,  liquidator or similar official under any Bankruptcy Law.  The Company will, so long as any of the Securities are outstanding, deliver to the  Trustee, within 30 days of becoming aware of any Default or Event of Default, an Officer’s  Certificate specifying such Default or Event of Default and what action the Company is taking or  proposes to take with respect thereto.  Section 6.2 Acceleration of Maturity; Rescission and Annulment.  If an Event of Default with respect to Securities of any Series at the time  outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.1(d)  or (e)) then in every such case the Trustee or the Holders of not less than 25% in principal  amount of the outstanding Securities of that Series may declare the principal amount (or, if any  Securities of that Series are Discount Securities, such portion of the principal amount as may be  specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of the  Securities of that Series to be due and payable immediately, by a notice in writing to the  Company (and to the Trustee if given by Holders), and upon any such declaration such principal  amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately  due and payable. If an Event of Default specified in Section 6.1(d) or (e) shall occur, the  principal amount (or specified amount) of and accrued and unpaid interest, if any, on all  outstanding Securities 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.  At any time after such a declaration of acceleration with respect to any Series has  been made and before a judgment or decree for payment of the money due has been obtained by  the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount  of the outstanding Securities of that Series, by written notice to the Company and the Trustee,  may rescind and annul such declaration and its consequences if all Events of Default with respect  to Securities of that Series, other than the non-payment of the principal and interest, if any, of  Securities of that Series which have become due solely by such declaration of acceleration, have  been cured or waived as provided in Section 6.13.  No such rescission shall affect any subsequent Default.  Section 6.3 Collection of Indebtedness and Suits for Enforcement by Trustee.  The Company covenants that if  (a) default is made in the payment of any interest on any Security when such  interest becomes due and payable and such default continues for a period of 30 days, or  (b) default is made in the payment of principal of any Security at the Maturity  thereof, or  (c) default is made in the deposit of any sinking fund payment, if any, when  and as due by the terms of a Security,  

 

  22  then, the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of  such Securities, the whole amount then due and payable on such Securities for principal and  interest and, to the extent that payment of such interest shall be legally enforceable, interest on  any overdue principal and any overdue interest at the rate or rates prescribed therefor in such  Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs  and expenses of collection, including the reasonable compensation, expenses, disbursements and  advances of the Trustee, its agents and counsel.  If the Company fails to pay such amounts forthwith upon such demand, the  Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for  the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or  final decree and may enforce the same against the Company or any other obligor upon such  Securities and collect the moneys adjudged or deemed to be payable in the manner provided by  law out of the property of the Company or any other obligor upon such Securities, wherever  situated.  If an Event of Default with respect to any Securities of any Series occurs and is  continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the  rights of the Holders of Securities of such Series by such appropriate judicial proceedings as the  Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific  enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any  power granted herein, or to enforce any other proper remedy.  Section 6.4 Trustee May File Proofs of Claim.  In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,  reorganization, arrangement, adjustment, composition or other judicial proceeding relating to the  Company or any other obligor upon the Securities or the property of the Company or of such  other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities  shall then be due and payable as therein expressed or by declaration or otherwise and irrespective  of whether the Trustee shall have made any demand on the Company for the payment of overdue  principal or interest) shall be entitled and empowered, by intervention in such proceeding or  otherwise,  (a) to file and prove a claim for the whole amount of principal and interest  owing and unpaid in respect of the Securities and to file such other papers or documents  as may be necessary or advisable in order to have the claims of the Trustee (including any  claim for the reasonable compensation, expenses, disbursements and advances of the  Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding,  and  (b) to collect and receive any moneys or other property payable or deliverable  on any such claims and to distribute the same,  and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in  any such judicial proceeding is hereby authorized by each Holder to make such payments to the  Trustee and, in the event that the Trustee shall consent to the making of such payments directly  

 

  23  to the Holders, to pay to the Trustee any amount due it for the reasonable compensation,  expenses, disbursements and advances of the Trustee, its agents and counsel, and any other  amounts due the Trustee under Section 7.7. To the extent that the payment of any such  compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and  any other amounts due the Trustee under Section 7.7 out of the estate in any such proceeding,  shall be unpaid for any reason, payment of the same shall be secured by a lien on, and shall be  paid out of, any and all distributions, dividends, money, securities and other properties that the  Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of  reorganization or arrangement or otherwise.  Nothing herein contained shall be deemed to authorize the Trustee to authorize or  consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement,  adjustment or composition affecting the Securities or the rights of any Holder thereof or to  authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.  Section 6.5 Trustee May Enforce Claims Without Possession of Securities.  All rights of action and claims under this Indenture or the Securities may be  prosecuted and enforced by the Trustee without the possession of any of the Securities or the  production thereof in any proceeding relating thereto, and any such proceeding instituted by the  Trustee shall be brought in its own name as trustee of an express trust, and any recovery of  judgment shall, after provision for the payment of the reasonable compensation, expenses,  disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of  the Holders of the Securities in respect of which such judgment has been recovered.  Section 6.6 Application of Money Collected.  Any money or property collected by the Trustee pursuant to this Article shall be  applied in the following order, at the date or dates fixed by the Trustee and, in case of the  distribution of such money or property on account of principal or interest, upon presentation of  the Securities and the notation thereon of the payment if only partially paid and upon surrender  thereof if fully paid:  First: To the payment of all amounts due to the Trustee under Section 7.7; and  Second: To the payment of the amounts then due and unpaid for principal of and  interest on the Securities in respect of which or for the benefit of which such money has been  collected, ratably, without preference or priority of any kind, according to the amounts due and  payable on such Securities for principal and interest, respectively; and  Third: To the Company.  Section 6.7 Limitation on Suits.  No Holder of any Security of any Series shall have any right to institute any  proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a  receiver or trustee, or for any other remedy hereunder, unless  

 

  24  (a) such Holder has previously given written notice to the Trustee of a  continuing Event of Default with respect to the Securities of that Series;  (b) the Holders of not less than 25% in principal amount of the outstanding  Securities of that Series shall have made written request to the Trustee to institute  proceedings in respect of such Event of Default in its own name as Trustee hereunder;  (c) such Holder or Holders have offered to the Trustee indemnity or security  satisfactory to the Trustee against the costs, expenses and liabilities which might be  incurred by the Trustee in compliance with such request;  (d) the Trustee for 60 days after its receipt of such notice, request and offer of  indemnity has failed to institute any such proceeding; and  (e) no direction inconsistent with such written request has been given to the  Trustee during such 60-day period by the Holders of a majority in principal amount of the  outstanding Securities of that Series;  it being understood, intended and expressly covenanted by the Holder of every Security with  every other Holder and the Trustee that no one or more of such Holders shall have any right in  any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect,  disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain  priority or preference over any other of such Holders or to enforce any right under this Indenture,  except in the manner herein provided and for the equal and ratable benefit of all such Holders of  the applicable Series; provided, however, that the Trustee does not have an affirmative duty to  ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders.  Section 6.8 Unconditional Right of Holders to Receive Principal and Interest.  Notwithstanding any other provision in this Indenture, the Holder of any Security  shall have the right, which is absolute and unconditional, to receive payment of the principal of  and interest, if any, on such Security on the Maturity of such Security, including the Stated  Maturity expressed in such Security (or, in the case of redemption, on the redemption date) and  to institute suit for the enforcement of any such payment, and such rights shall not be impaired  without the consent of such Holder.  Section 6.9 Restoration of Rights and Remedies.  If the Trustee or any Holder has instituted any proceeding to enforce any right or  remedy under this Indenture and such proceeding has been discontinued or abandoned for any  reason, or has been determined adversely to the Trustee or to such Holder, then and in every such  case, subject to any determination in such proceeding, the Company, the Trustee and the Holders  shall be restored severally and respectively to their former positions hereunder and thereafter all  rights and remedies of the Trustee and the Holders shall continue as though no such proceeding  had been instituted.  Section 6.10 Rights and Remedies Cumulative.  

 

  25  Except as otherwise provided with respect to the replacement or payment of  mutilated, destroyed, lost or stolen Securities in Section 2.8, no right or remedy herein conferred  upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or  remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in  addition to every other right and remedy given hereunder or now or hereafter existing at law or  in equity or otherwise. The assertion or employment of any right or remedy hereunder, or  otherwise, shall not, to the extent permitted by law, prevent the concurrent assertion or  employment of any other appropriate right or remedy.  Section 6.11 Delay or Omission Not Waiver.  No delay or omission of the Trustee or of any Holder of any Securities to exercise  any right or remedy accruing upon any Event of Default shall impair any such right or remedy or  constitute a waiver of any such Event of Default or an acquiescence therein. Every right and  remedy given by this Article or by law to the Trustee or to the Holders may be exercised from  time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the  case may be.  Section 6.12 Control by Holders.  The Holders of a majority in principal amount of the outstanding Securities of any  Series shall have the right to direct the time, method and place of conducting any proceeding for  any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee,  with respect to the Securities of such Series, provided that  (a) such direction shall not be in conflict with any rule of law or with this  Indenture,  (b) the Trustee may take any other action deemed proper by the Trustee which  is not inconsistent with such direction,  (c) subject to the provisions of Section 6.1, the Trustee shall have the right to  decline to follow any such direction if the Trustee in good faith shall, by a Responsible  Officer of the Trustee, determine that the proceeding so directed would involve the  Trustee in personal liability, and  (d) prior to taking any action as directed under this Section 6.12, the Trustee  shall be entitled to indemnity satisfactory to it against the costs, expenses and liabilities  which might be incurred by it in compliance with such request or direction.  Section 6.13 Waiver of Past Defaults.  The Holders of not less than a majority in principal amount of the outstanding  Securities of any Series may on behalf of the Holders of all the Securities of such Series waive  any past Default hereunder with respect to such Series and its consequences, except a Default in  the payment of the principal of or interest on any Security of such Series (provided, however,  that the Holders of a majority in principal amount of the outstanding Securities of any Series may  rescind an acceleration and its consequences, including any related payment default that resulted  

 

  26  from such acceleration). Upon any such waiver, such Default shall cease to exist, and any Event  of Default arising therefrom shall be deemed to have been cured, for every purpose of this  Indenture; but no such waiver shall extend to any subsequent or other Default.  Section 6.14 Undertaking for Costs.  All parties to this Indenture agree, and each Holder of any Security by his  acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in  any suit for the enforcement of any right or remedy under this Indenture, or in any suit against  the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party  litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its  discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant  in such suit, having due regard to the merits and good faith of the claims or defenses made by  such party litigant; but the provisions of this Section shall not apply to any suit instituted by the  Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of  Holders, holding in the aggregate more than 10% in principal amount of the outstanding  Securities of any Series, or to any suit instituted by any Holder for the enforcement of the  payment of the principal of or interest on any Security on or after the Maturity of such Security,  including the Stated Maturity expressed in such Security (or, in the case of redemption, on the  redemption date).  ARTICLE VII  TRUSTEE  Section 7.1 Duties of Trustee.  (a) If an Event of Default has occurred and is continuing, the Trustee shall  exercise the rights and powers vested in it by this Indenture and use the same degree of  care and skill in their exercise as a prudent person would exercise or use under the  circumstances in the conduct of such person’s own affairs.  (b) Except during the continuance of an Event of Default:  (i) The Trustee need perform only those duties that are specifically set  forth in this Indenture and no others.  (ii) In the absence of bad faith on its part, the Trustee may  conclusively rely, as to the truth of the statements and the correctness of the  opinions expressed therein, upon Officer’s Certificates or Opinions of Counsel  furnished to the Trustee and conforming to the requirements of this Indenture;  however, in the case of any such Officer’s Certificates or Opinions of Counsel  which by any provisions hereof are specifically required to be furnished to the  Trustee, the Trustee shall examine such Officer’s Certificates and Opinions of  Counsel 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).  

 

  27  (c) The Trustee may not be relieved from liability for its own negligent  action, its own negligent failure to act or its own willful misconduct, except that:  (i) This paragraph does not limit the effect of paragraph (b) of this  Section.  (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.  (iii) The Trustee shall not be liable with respect to any action taken,  suffered or omitted to be taken by it with respect to Securities of any Series in  good faith in accordance with the direction of the Holders of a majority in  principal amount of the outstanding Securities of such Series relating to the time,  method and place of conducting any proceeding for any remedy available to the  Trustee, or exercising any trust or power conferred upon the Trustee, under this  Indenture with respect to the Securities of such Series in accordance with Section  6.12.  (d) Every provision of this Indenture that in any way relates to the Trustee is  subject to paragraph (a), (b) and (c) of this Section.  (e) The Trustee may refuse to perform any duty or exercise any right or power  unless it receives indemnity satisfactory to it against the costs, expenses and liabilities  which might be incurred by it in performing such duty or exercising such right or power.  (f) The Trustee shall not be liable for interest on any money received by it.  Money held in trust by the Trustee need not be segregated from other funds except to the  extent required by law.  (g) No provision of this Indenture shall require the Trustee to risk its own  funds or otherwise incur any financial liability in the performance of any of its duties, or  in the exercise of any of its rights or powers, if adequate indemnity against such risk is  not assured to the Trustee in its satisfaction.  (h) The Paying Agent, the Registrar and any authenticating agent shall be  entitled to the protections and immunities as are set forth in paragraphs (e), (f) and (g) of  this Section and in Section 7.2, each with respect to the Trustee.  Section 7.2 Rights of Trustee.  (a) The Trustee may rely on and shall be protected in acting or refraining  from acting upon any document (whether in its original or facsimile form) believed by it  to be genuine and to have been signed or presented by the proper person. The Trustee  need not investigate any fact or matter stated in the document.  (b) Before the Trustee acts or refrains from acting, it may require an Officer’s  Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any  

 

  28  action it takes or omits to take in good faith in reliance on such Officer’s Certificate or  Opinion of Counsel.  (c) The Trustee may act through agents and shall not be responsible for the  misconduct or negligence of any agent appointed with due care. No Depositary shall be  deemed an agent of the Trustee and the Trustee shall not be responsible for any act or  omission by any Depositary.  (d) The Trustee shall not be liable for any action it takes or omits to take in  good faith which it believes to be authorized or within its rights or powers, provided that  the Trustee’s conduct does not constitute willful misconduct or negligence.  (e) The Trustee may consult with counsel of its selection and the advice of  such counsel or any Opinion of Counsel shall be full and complete authorization and  protection in respect of any action taken, suffered or omitted by it hereunder without  willful misconduct or negligence, and in reliance thereon.  (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 of  Securities unless such Holders shall have offered to the Trustee security or indemnity  satisfactory to it against the costs, expenses and liabilities which might be incurred by it  in compliance with such request or direction.  (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, order, bond, debenture, note, other evidence of indebtedness  or other paper or document, but the Trustee, in its discretion, may make such further  inquiry or investigation into such facts or matters as it may see fit and shall incur no  liability or additional liability of any kind by reason of such inquiry or investigation.  (h) The Trustee shall not be deemed to have notice of any Default or Event of  Default unless a Responsible Officer of the Trustee has actual knowledge thereof or  unless written notice of any event which is in fact such a default is received by the  Trustee at the Corporate Trust Office of the Trustee, and such notice references the  Securities generally or the Securities of a particular Series and this Indenture.  (i) In no event shall the Trustee be liable to any person for special, punitive,  indirect, consequential or incidental loss or damage of any kind whatsoever (including  but not limited to lost profits), even if the Trustee has been advised of the likelihood of  such loss or damage.  (j) The permissive right of the Trustee to take the actions permitted by this  Indenture shall not be construed as an obligation or duty to do so.  (k) The rights, privileges, protections, immunities and benefits given to the  Trustee, including, without limitation, its right to be indemnified, are extended to, and  shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent,  custodian and other Person employed to act hereunder.  

 

  29  (l) The Trustee shall not be required to give any bond or surety in respect of  the performance of its powers and duties hereunder.  (m) The Trustee may request that the Company deliver a certificate setting  forth the names of individuals and/or titles of officers authorized at such time to take  specified actions pursuant to this Indenture.  Section 7.3 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 an Affiliate of the Company  with the same rights it would have if it were not Trustee. Any Agent may do the same with like  rights. However, the Trustee is also subject to Sections 7.10 and 7.11.  Section 7.4 Trustee’s Disclaimer.  The Trustee 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, and it shall not be responsible for any statement in the Securities other than  its authentication.  Section 7.5 Notice of Defaults.  If a Default or Event of Default occurs and is continuing with respect to the  Securities of any Series and if it is actually known to a Responsible Officer of the Trustee, the  Trustee shall mail to each Securityholder of the Securities of that Series notice of a Default or  Event of Default within 60 days after it occurs or, if later, after a Responsible Officer of the  Trustee has knowledge of such Default or Event of Default. Except in the case of a Default or  Event of Default in payment of principal of or interest on any Security of any Series, the Trustee  may withhold the notice if and so long as it in good faith determines that withholding the notice  is in the interests of Securityholders of that Series.  Section 7.6 Reports by Trustee to Holders.  Within 60 days after May 15 in each year, the Trustee shall transmit by mail to all  Securityholders, as their names and addresses appear on the register kept by the Registrar, a brief  report dated as of such reporting date, in accordance with, and to the extent required under, TIA  § 313.  A copy of each report at the time of its mailing to Securityholders of any Series  shall be filed with the SEC and each national securities exchange on which the Securities of that  Series are listed. The Company shall promptly notify the Trustee in writing when Securities of  any Series are listed on any national securities exchange or of any delisting thereof.  Section 7.7 Compensation and Indemnity.  The Company shall pay to the Trustee from time to time compensation for its  services as the Company and the Trustee shall from time to time agree upon in writing. The  

 

  30  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 upon request for all reasonable out of  pocket expenses incurred by it. Such expenses shall include the reasonable compensation and  expenses of the Trustee’s agents and counsel.  The Company shall indemnify each of the Trustee and any predecessor Trustee  (including the cost of defending itself) against any cost, expense, claims (whether asserted by the  Company, a Holder or any other Person) or liability, including taxes (other than taxes based  upon, measured by or determined by the income of the Trustee) incurred by it except as set forth  in the next paragraph in the performance of its duties under this Indenture and the enforcement of  this Indenture (including this Section) as Trustee or Agent. 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, unless and to the extent that  the Company is materially prejudiced thereby. The Company shall defend the claim and the  Trustee shall cooperate in the defense. The Trustee may have one 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 will not be unreasonably  withheld. This indemnification shall apply to officers, directors, employees, shareholders and  agents of the Trustee.  The Company need not reimburse any expense or indemnify against any loss or  liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the  Trustee through willful misconduct or negligence.  To secure the Company’s payment obligations in this Section, the Trustee shall  have a lien prior to the Securities of any Series on all money or property held or collected by the  Trustee, except that held in trust to pay principal of and interest on particular Securities of that  Series.  When the Trustee incurs expenses or renders services after an Event of Default  specified in Section 6.1(d) or (e) occurs, the expenses and the compensation for the services are  intended to constitute expenses of administration under any Bankruptcy Law.  The provisions of this Section shall survive the termination of this Indenture or  the resignation or removal of the Trustee.  Section 7.8 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.  The Trustee may resign with respect to the Securities of one or more Series by so  notifying the Company at least 30 days prior to the date of the proposed resignation. The Holders  of a majority in principal amount of the Securities of any Series may remove the Trustee with  respect to that Series by so notifying the Trustee and the Company. The Company may remove  the Trustee with respect to Securities of one or more Series if:  

 

  31  (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 or is removed or if a vacancy exists in the office of Trustee  for any reason, the Company shall promptly appoint a successor Trustee. Within one year after  the successor Trustee takes office, the Holders of a majority in principal amount of the then  outstanding Securities may appoint a successor Trustee to replace the successor Trustee  appointed by the Company.  If a successor Trustee with respect to the Securities of any one or more Series  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 a majority in principal amount of the Securities  of the applicable Series may petition any court of competent jurisdiction for 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. Immediately after that, the retiring Trustee shall transfer all  property held by it as Trustee to the successor Trustee subject to the lien provided for in Section  7.7, 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 with respect to each Series of  Securities for which it is acting as Trustee under this Indenture. A successor Trustee shall mail a  notice of its succession to each Securityholder of each such Series. Notwithstanding replacement  of the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 shall  continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred by  it for actions taken or omitted to be taken in accordance with its rights, powers and duties under  this Indenture prior to such replacement.  Section 7.9 Successor Trustee by Merger, Etc.  If the Trustee consolidates with, merges or converts into, or transfers all or  substantially all of its corporate trust business to, another corporation, the successor corporation  without any further act shall be the successor Trustee, if such successor corporation is eligible  and qualified under Section 7.10.  Section 7.10 Eligibility; Disqualification.  This Indenture shall always have a Trustee who satisfies the requirements of TIA  § 310(a)(1), (2) and (5). The Trustee shall always have a combined capital and surplus of at least  $25,000,000 as set forth in its most recent published annual report of condition. The Trustee shall  comply with TIA § 310(b).  Section 7.11 Preferential Collection of Claims Against Company.  

 

  32  The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed  in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to  the extent indicated.  ARTICLE VIII  SATISFACTION AND DISCHARGE; DEFEASANCE  Section 8.1 Satisfaction and Discharge of Indenture.  This Indenture shall upon Company Order cease to be of further effect (except as  hereinafter provided in this Section 8.1), and the Trustee, at the expense of the Company, shall  execute instruments acknowledging satisfaction and discharge of this Indenture, when  (a) either  (i) all Securities theretofore authenticated and delivered (other than  Securities that have been destroyed, lost or stolen and that have been replaced or  paid as provided in Section 2.8) have been delivered to the Trustee for  cancellation; or  (ii) all such Securities not theretofore delivered to the Trustee for  cancellation  (1) have become due and payable, or  (2) will become due and payable at their Stated Maturity  within one year, or  (3) have been called for redemption or are to be called for  redemption within one year under arrangements satisfactory to the Trustee  for the giving of notice of redemption by the Trustee in the name, and at  the expense, of the Company, or  (4) are deemed paid and discharged pursuant to Section 8.3, as  applicable;  and the Company, in the case of (1), (2) or (3) above, has irrevocably deposited or caused to be  deposited with the Trustee as trust funds in trust an amount of money or U.S. Government  Obligations sufficient for the purpose of paying and discharging the entire indebtedness on such  Securities not theretofore delivered to the Trustee for cancellation, for principal and interest to  the date of such deposit (in the case of Securities which have become due and payable on or prior  to the date of such deposit) or to the Stated Maturity or redemption date, as the case may be;  (b) the Company has paid or caused to be paid all other sums payable  hereunder by the Company; and  

 

  33  (c) the Company has delivered to the Trustee an Officer’s Certificate and an  Opinion of Counsel, each stating that all conditions precedent herein provided for relating  to the satisfaction and discharge of this Indenture have been complied with.  Notwithstanding the satisfaction and discharge of this Indenture, the obligations  of the Company to the Trustee under Section 7.7, and, if money shall have been deposited with  the Trustee pursuant to clause (a) of this Section, the provisions of Sections 2.4, 2.7, 2.8, 8.2 and  8.5 shall survive.  Section 8.2 Application of Trust Funds; Indemnification.  (a) Subject to the provisions of Section 8.5, all money or U.S. Government  Obligations deposited with the Trustee pursuant to Section 8.1, all money and U.S.  Government Obligations or Foreign Government Obligations deposited with the Trustee  pursuant to Section 8.3 or 8.4 and all money received by the Trustee in respect of U.S.  Government Obligations or Foreign Government Obligations deposited with the Trustee  pursuant to Section 8.3 or 8.4, shall be held in trust and applied by it, in accordance with  the provisions of the Securities and this Indenture, to the payment, either directly or  through any Paying Agent (including the Company acting as its own Paying Agent) as  the Trustee may determine, to the persons entitled thereto, of the principal and interest for  whose payment such money has been deposited with or received by the Trustee or to  make mandatory sinking fund payments or analogous payments as contemplated by  Sections 8.3 or 8.4.  (b) The Company shall pay and shall indemnify the Trustee against any tax,  fee or other charge imposed on or assessed against U.S. Government Obligations or  Foreign Government Obligations deposited pursuant to Sections 8.3 or 8.4 or the interest  and principal received in respect of such obligations other than any payable by or on  behalf of Holders.  (c) The Trustee shall deliver or pay to the Company from time to time upon  Company Order any U.S. Government Obligations or Foreign Government Obligations  or money held by it as provided in Sections 8.3 or 8.4 which, in the opinion of a  nationally recognized firm of independent certified public accountants or investment  bank expressed in a written certification thereof delivered to the Trustee, are then in  excess of the amount thereof which then would have been required to be deposited for the  purpose for which such U.S. Government Obligations or Foreign Government  Obligations or money were deposited or received. This provision shall not authorize the  sale by the Trustee of any U.S. Government Obligations or Foreign Government  Obligations held under this Indenture.  Section 8.3 Legal Defeasance of Securities of any Series.  Unless this Section 8.3 is otherwise specified, pursuant to Section 2.2, to be  inapplicable to Securities of any Series, the Company shall be deemed to have paid and  discharged the entire indebtedness on all the outstanding Securities of any Series on the 91st day  after the date of the deposit referred to in subparagraph (d) hereof, and the provisions of this  

 

  34  Indenture, as it relates to such outstanding Securities of such Series, shall no longer be in effect  (and the Trustee, at the expense of the Company, shall, upon receipt of a Company Order,  execute instruments acknowledging the same), except as to:  (a) the rights of Holders of Securities of such Series to receive, from the trust  funds described in subparagraph (d) hereof, (i) payment of the principal of and each  installment of principal of and interest on the outstanding Securities of such Series on the  Maturity of such principal or installment of principal or interest and (ii) the benefit of any  mandatory sinking fund payments applicable to the Securities of such Series on the day  on which such payments are due and payable in accordance with the terms of this  Indenture and the Securities of such Series;  (b) the provisions of Sections 2.4, 2.7, 2.8, 8.2, 8.3 and 8.5; and  (c) the rights, powers, trust and immunities of the Trustee hereunder and the  Company’s obligations in connection therewith;  provided that, the following conditions shall have been satisfied:  (d) the Company shall have deposited or caused to be irrevocably deposited  (except as provided in Section 8.2(c)) with the Trustee as trust funds in trust for the  purpose of making the following payments, specifically pledged as security for and  dedicated solely to the benefit of the Holders of such Securities (i) in the case of  Securities of such Series denominated in Dollars, cash in Dollars and/or U.S.  Government Obligations, or (ii) in the case of Securities of such Series denominated in a  Foreign Currency (other than a composite currency), money and/or Foreign Government  Obligations, which through the payment of interest and principal in respect thereof in  accordance with their terms, will provide (and without reinvestment and assuming no tax  liability will be imposed on such Trustee), not later than one day before the due date of  any payment of money, an amount in cash, sufficient, in the opinion of a nationally  recognized firm of independent public accountants or investment bank expressed in a  written certification thereof delivered to the Trustee, to pay and discharge each  installment of principal of and interest, if any, on and any mandatory sinking fund  payments in respect of all the Securities of such Series on the dates such installments of  interest or principal and such sinking fund payments are due;  (e) such deposit will not result in a breach or violation of, or constitute a  default under, this Indenture or any other agreement or instrument to which the Company  is a party or by which it is bound;  (f) no Default or Event of Default with respect to the Securities of such Series  shall have occurred and be continuing on the date of such deposit or during the period  ending on the 91st day after such date;  (g) the Company shall have delivered to the Trustee an Officer’s Certificate  and an Opinion of Counsel to the effect that (i) the Company has received from, or there  has been published by, the Internal Revenue Service a ruling, or (ii) since the date of  execution of this Indenture, there has been a change in the applicable Federal income tax  

 

  35  law, in either case to the effect that, and based thereon such Opinion of Counsel shall  confirm that, the Holders of the Securities of such Series will not recognize income, gain  or loss for Federal income tax purposes as a result of such deposit, defeasance and  discharge and will be subject to Federal income tax on the same amount and in the same  manner and at the same times as would have been the case if such deposit, defeasance  and discharge had not occurred;  (h) the Company shall have delivered to the Trustee an Officer’s Certificate  stating that the deposit was not made by the Company with the intent of defeating,  hindering, delaying or defrauding any other creditors of the Company; and  (i) the Company shall have delivered to the Trustee an Officer’s Certificate  and an Opinion of Counsel, each stating that all conditions precedent provided for  relating to the defeasance contemplated by this Section have been complied with.  Section 8.4 Covenant Defeasance.  Unless this Section 8.4 is otherwise specified pursuant to Section 2.2 to be  inapplicable to Securities of any Series, the Company may omit to comply with respect to the  Securities of any Series with any term, provision or condition set forth under Sections 4.2, 4.3,  4.4, 4.5, and 5.1 as well as any additional covenants specified in a supplemental indenture for  such Series of Securities or a Board Resolution or an Officer’s Certificate delivered pursuant to  Section 2.2 (and the failure to comply with any such covenants shall not constitute a Default or  Event of Default with respect to such Series under Section 6.1) and the occurrence of any event  specified in a supplemental indenture for such Series of Securities or a Board Resolution or an  Officer’s Certificate delivered pursuant to Section 2.2.18 and designated as an Event of Default  shall not constitute a Default or Event of Default hereunder, with respect to the Securities of such  Series, provided that the following conditions shall have been satisfied:  (a) With reference to this Section 8.4, the Company has deposited or caused  to be irrevocably deposited (except as provided in Section 8.2(c)) with the Trustee as  trust funds in trust for the purpose of making the following payments specifically pledged  as security for, and dedicated solely to, the benefit of the Holders of such Securities (i) in  the case of Securities of such Series denominated in Dollars, cash in Dollars and/or U.S.  Government Obligations, or (ii) in the case of Securities of such Series denominated in a  Foreign Currency (other than a composite currency), money and/or Foreign Government  Obligations, which through the payment of interest and principal in respect thereof in  accordance with their terms, will provide (and without reinvestment and assuming no tax  liability will be imposed on such Trustee), not later than one day before the due date of  any payment of money, an amount in cash, sufficient, in the opinion of a nationally  recognized firm of independent certified public accountants or investment bank expressed  in a written certification thereof delivered to the Trustee, to pay and discharge each  installment of principal of and interest, if any, on and any mandatory sinking fund  payments in respect of the Securities of such Series on the dates such installments of  interest or principal and such sinking fund payments are due;  

 

  36  (b) Such deposit will not result in a breach or violation of, or constitute a  default under, this Indenture or any other agreement or instrument to which the Company  is a party or by which it is bound;  (c) No Default or Event of Default with respect to the Securities of such  Series shall have occurred and be continuing on the date of such deposit;  (d) The Company shall have delivered to the Trustee an Opinion of Counsel  to the effect that Holders of the Securities of such Series will not recognize income, gain  or loss for federal income tax purposes as a result of such deposit and covenant  defeasance and will be subject to federal income tax on the same amounts, in the same  manner and at the same times as would have been the case if such deposit and covenant  defeasance had not occurred;  (e) The Company shall have delivered to the Trustee an Officer’s Certificate  stating the deposit was not made by the Company with the intent of defeating, hindering,  delaying or defrauding any other creditors of the Company; and  (f) The Company shall have delivered to the Trustee an Officer’s Certificate  and an Opinion of Counsel, each stating that all conditions precedent herein provided for  relating to the covenant defeasance contemplated by this Section have been complied  with.  Section 8.5 Repayment to Company.  Subject to applicable abandoned property law, the Trustee and the Paying Agent  shall pay to the Company upon request any money held by them for the payment of principal and  interest that remains unclaimed for two years. After that, Securityholders entitled to the money  must look to the Company for payment as general creditors unless an applicable abandoned  property law designates another person.  Section 8.6 Reinstatement.  If the Trustee or the Paying Agent is unable to apply any money deposited with  respect to Securities of any Series in accordance with Section 8.1 by reason of any legal  proceeding or by reason of any order or judgment of any court or governmental authority  enjoining, restraining or otherwise prohibiting such application, the obligations of the Company  under this Indenture with respect to the Securities of such Series and under the Securities of such  Series shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.1  until such time as the Trustee or the Paying Agent is permitted to apply all such money in  accordance with Section 8.1; provided, however, that if the Company has made any payment of  principal of or interest on or any Additional Amounts with respect to any Securities because of  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 or U.S. Government Obligations held  by the Trustee or Paying Agent after payment in full to the Holders.  

 

  37  ARTICLE IX  AMENDMENTS AND WAIVERS  Section 9.1 Without Consent of Holders.  The Company and the Trustee may amend or supplement this Indenture or the  Securities of one or more Series without the consent of any Securityholder:  (a) to add guarantees with respect to any Series of Securities or secure any  Series of Securities;  (b) to surrender any of the Company’s rights or powers under this Indenture;  (c) to add covenants or Events of Default for the benefit of the  Securityholders of any Series of Securities;  (d) to comply with the applicable procedures of the Depositary;  (e) to cure any ambiguity, defect or inconsistency;  (f) to comply with Article V;  (g) to provide for uncertificated Securities in addition to or in place of  certificated Securities;  (h) to make any change that does not materially adversely affect the rights of  any Securityholder;  (i) to provide for the issuance of and establish the form and terms and  conditions of Securities of any Series as permitted by this Indenture;  (j) to evidence and provide for the acceptance of appointment hereunder by a  successor Trustee with respect to the Securities of one or more Series and to add to or  change any of the provisions of this Indenture as shall be necessary to provide for or  facilitate the administration of the trusts hereunder by more than one Trustee; or  (k) to comply with requirements of the SEC in order to effect or maintain the  qualification of this Indenture under the TIA.  Section 9.2 With Consent of Holders.  The Company and the Trustee may enter into a supplemental indenture with the  written consent of the Holders of at least a majority in principal amount of the outstanding  Securities of each Series affected by such supplemental indenture (including consents obtained in  connection with a tender offer or exchange offer for the Securities of such Series), for the  purpose of adding any provisions to or changing in any manner or eliminating any of the  provisions of this Indenture or of any supplemental indenture or of modifying in any manner the  rights of the Securityholders of each such Series. Except as provided in Section 6.13, the Holders  

 

  38  of at least a majority in principal amount of the outstanding Securities of any Series by written  notice to the Trustee (including consents obtained in connection with a tender offer or exchange  offer for the Securities of such Series) may waive compliance by the Company with any  provision of this Indenture or the Securities with respect to such Series.  It shall not be necessary for the consent of the Holders of Securities under this  Section 9.2 to approve the particular form of any proposed supplemental indenture or waiver, but  it shall be sufficient if such consent approves the substance thereof. After a supplemental  indenture or waiver under this section becomes effective, the Company shall mail to the Holders  of Securities affected thereby, a notice briefly describing the supplemental indenture or waiver.  Any failure by the Company to mail or publish such notice, or any defect therein, shall not,  however, in any way impair or affect the validity of any such supplemental indenture or waiver.  Section 9.3 Limitations.  Without the consent of each Securityholder affected, an amendment or waiver  may not:  (a) reduce the principal amount of Securities whose Holders must consent to  an amendment, supplement or waiver;  (b) reduce the rate of or extend the time for payment of interest (including  default interest) on any Security;  (c) reduce the principal or change the Stated Maturity of any Security or  reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or  analogous obligation;  (d) reduce the principal amount of Discount Securities payable upon  acceleration of the maturity thereof;  (e) waive a Default or Event of Default in the payment of the principal of or  interest, if any, on any Security (except a rescission of acceleration of the Securities of  any Series by the Holders of at least a majority in principal amount of the outstanding  Securities of such Series and a waiver of the payment default that resulted from such  acceleration);  (f) make the principal of or interest, if any, on any Security payable in any  currency other than that stated in the Security;  (g) make any change in Sections 6.8, 6.13 or 9.3 (this sentence); or  (h) waive a redemption payment with respect to any Security, provided that  such redemption is made at the Company’s option.  

 

  39  Section 9.4 Compliance with Trust Indenture Act.  Every amendment to this Indenture or the Securities of one or more Series shall  be set forth in a supplemental indenture hereto that complies with the TIA as then in effect.  Section 9.5 Revocation and Effect of Consents.  Until an amendment is set forth in a supplemental indenture or a waiver becomes  effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and  every subsequent Holder of a Security or portion of a Security that evidences the same debt as  the consenting Holder’s Security, even if notation of the consent is not made on any Security.  However, any such Holder or subsequent Holder may revoke the consent as to his Security or  portion of a Security if the Trustee receives the written notice of revocation before the date of the  supplemental indenture or the date the waiver becomes effective.  Any amendment or waiver once effective shall bind every Securityholder of each  Series affected by such amendment or waiver unless it is of the type described in any of clauses  (a) through (h) of Section 9.3. In that case, the amendment or waiver shall bind each Holder of a  Security who has consented to it and every subsequent Holder of a Security or portion of a  Security that evidences the same debt as the consenting Holder’s Security.  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 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 9.6 Notation on or Exchange of Securities.  The Company or the Trustee may place an appropriate notation about an  amendment or waiver on any Security of any Series thereafter authenticated. The Company in  exchange for Securities of that Series may issue and the Trustee shall authenticate upon request  new Securities of that Series that reflect the amendment or waiver.  Section 9.7 Trustee Protected.  In executing, or accepting the additional trusts created by, any supplemental  indenture permitted by this Article or the modifications thereby of the trusts created by this  Indenture, the Trustee shall receive, and (subject to Section 7.1) shall be fully protected in  conclusively relying upon, an Officer’s Certificate or an Opinion of Counsel or both complying  with Section 10.4 and stating that the supplemental indenture is the legal, valid and binding  obligation of the Company, enforceable against the Company in accordance with its terms,  subject to customary exceptions. The Trustee shall sign all supplemental indentures upon  delivery of such an Officer’s Certificate or Opinion of Counsel or both, except that the Trustee  need not sign any supplemental indenture that adversely affects its rights.  

 

  40  ARTICLE X  MISCELLANEOUS  Section 10.1 Trust Indenture Act Controls.  If any provision of this Indenture limits, qualifies, or conflicts with another  provision which is required or deemed to be included in this Indenture by the TIA, such required  or deemed provision shall control.  Section 10.2 Notices.  Any notice or communication by the Company or the Trustee to the other, or by a  Holder to the Company or the Trustee, is duly given if in writing and delivered in person or  mailed by first-class mail:  if to the Company:  Vector Group Ltd.  4400 Biscayne Boulevard  Miami, Florida 33137  Attention: Marc N. Bell, Esq.        J. Bryant Kirkland III   Telephone: (305) 579-8000  with a copy to:  Sullivan & Cromwell LLP  125 Broad Street  New York, New York 10004  Attention:  Robert W. Downes    Alan J. Fishman  Telephone: (212) 558-4000  if to the Trustee:  U.S. Bank Trust Company, National Association    60 Livingston Avenue  EP-MN-WS3C  St. Paul, MN  55107-2292  Attention: Joshua A. Hahn   Telephone: 651-466-6309  The Company or the Trustee by notice to the other may designate additional or  different addresses for subsequent notices or communications.  Any notice or communication to a Securityholder shall be mailed by first-class  mail to his address shown on the register kept by the Registrar. Failure to mail a notice or  

 

  41  communication to a Securityholder of any Series or any defect in it shall not affect its sufficiency  with respect to other Securityholders of that or any other Series.  If a notice or communication is mailed or published in the manner provided  above, within the time prescribed, it is duly given, whether or not the Securityholder receives it.  If the Company mails a notice or communication to Securityholders, it shall mail  a copy to the Trustee and each Agent at the same time.  Notwithstanding any other provision of this Indenture or any Security, where this  Indenture or any Security provides for notice of any event (including any notice of redemption)  to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently  given to the Depositary for such Security (or its designee) pursuant to the customary procedures  of such Depositary.  Section 10.3 Communication by Holders with Other Holders.  Securityholders of any Series may communicate pursuant to TIA § 312(b) with  other Securityholders of that Series or any other Series with respect to their rights under this  Indenture or the Securities of that Series or all Series. The Company, the Trustee, the Registrar  and anyone else shall have the protection of TIA § 312(c).  Section 10.4 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 to the Trustee:  (a) an Officer’s Certificate stating that, in the opinion of the signers, all  conditions precedent, if any, provided for in this Indenture relating to the proposed action  have been complied with; and  (b) an Opinion of Counsel stating that, in the opinion of such counsel, all such  conditions precedent have been complied with.  Section 10.5 Statements Required in Certificate or Opinion.  Each certificate or opinion with respect to compliance with a condition or  covenant provided for in this Indenture (other than a certificate provided pursuant to TIA §  314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include:  (a) 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;  

 

  42  (c) a statement that, in the opinion of such person, he has made such  examination or investigation as is necessary to enable him to express an informed opinion  as to whether or not such covenant or condition has been complied with; and  (d) a statement as to whether or not, in the opinion of such person, such  condition or covenant has been complied with.  Section 10.6 Rules by Trustee and Agents.  The Trustee may make reasonable rules for action by or a meeting of  Securityholders of one or more Series. Any Agent may make reasonable rules and set reasonable  requirements for its functions.  Section 10.7 Legal Holidays.  Unless otherwise provided by Board Resolution, Officer’s Certificate or  supplemental indenture hereto for a particular Series, a “Legal Holiday” is any day that is not a  Business Day. 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  for the intervening period.  Section 10.8 No Recourse Against Others.  A director, officer, employee or stockholder (past or present), as such, of the  Company shall not have any liability for any obligations of the Company under the Securities or  the Indenture or for any claim based on, in respect of or by reason of such obligations or their  creation. Each Securityholder by accepting a Security waives and releases all such liability. The  waiver and release are part of the consideration for the issue of the Securities.  Section 10.9 Counterparts.  This Indenture may be executed in any number of counterparts and by the parties  hereto in separate counterparts, each of which when so executed shall be deemed to be an  original and all of which taken together shall constitute one and the same agreement. The  exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission  shall constitute effective execution and delivery of this Indenture as to the parties hereto and may  be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto  transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.  Section 10.10 Governing Law; Jury Trial Waiver.  THIS INDENTURE AND THE SECURITIES, INCLUDING ANY CLAIM  OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR  THE SECURITIES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW  YORK (WITHOUT REGARD TO THE CONFLICTS OF LAWS PROVISIONS  THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE GENERAL  OBLIGATIONS LAW).  

 

  43  EACH OF THE COMPANY AND THE TRUSTEE HEREBY  IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY  APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL  PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE  SECURITIES OR THE TRANSACTION CONTEMPLATED HEREBY.  Section 10.11 No Adverse Interpretation of Other Agreements.  This Indenture may not be used to interpret another indenture, loan or debt  agreement of the Company or a Subsidiary of the Company. Any such indenture, loan or debt  agreement may not be used to interpret this Indenture.  Section 10.12 Successors.  All agreements of the Company in this Indenture and the Securities shall bind its  successor. All agreements of the Trustee in this Indenture shall bind its successor.  Section 10.13 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 10.14 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 hereof, and shall in no way modify or restrict any of the terms or provisions  hereof.  Section 10.15 Securities in a Foreign Currency.  Unless otherwise specified in a Board Resolution, a supplemental indenture  hereto or an Officer’s Certificate delivered pursuant to Section 2.2 of this Indenture with respect  to a particular Series of Securities, whenever for purposes of this Indenture any action may be  taken by the Holders of a specified percentage in aggregate principal amount of Securities of all  Series or all Series affected by a particular action at the time outstanding and, at such time, there  are outstanding Securities of any Series which are denominated more than one currency, then the  principal amount of Securities of such Series which shall be deemed to be outstanding for the  purpose of taking such action shall be determined by converting any such other currency into a  currency that is designated upon issuance of any particular Series of Securities. Unless otherwise  specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate  delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of  Securities, such conversion shall be at the spot rate for the purchase of the designated currency as  published in The Wall Street Journal in the “Market Data” section (of, if The Wall Street Journal  is no longer published, or if such information is no longer available in The Wall Street Journal,  such source as may be selected in good faith by the Company) on any date of determination. The  provisions of this paragraph shall apply in determining the equivalent principal amount in respect  

 

  44  of Securities of a Series denominated in currency other than Dollars in connection with any  action taken by Holders of Securities pursuant to the terms of this Indenture.  All decisions and determinations provided for in the preceding paragraph shall, in  the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and  irrevocably binding upon the Trustee and all Holders.  Section 10.16 Judgment Currency.  The Company agrees, to the fullest extent that it may effectively do so under  applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to  convert the sum due in respect of the principal of or interest or other amount on the Securities of  any Series (the “Required Currency”) into a currency in which a judgment will be rendered (the  “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with  normal banking procedures the Trustee could purchase in The City of New York the Required  Currency with the Judgment Currency on the day on which final unappealable judgment is  entered, unless such day is not a New York Banking Day, then the rate of exchange used shall be  the rate at which in accordance with normal banking procedures the Trustee could purchase in  The City of New York the Required Currency with the Judgment Currency on the New York  Banking Day preceding the day on which final unappealable judgment is entered and (b) its  obligations under this Indenture to make payments in the Required Currency (i) shall not be  discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not  entered in accordance with subsection (a)), in any currency other than the Required Currency,  except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of  the full amount of the Required Currency expressed to be payable in respect of such payments,  (ii) shall be enforceable as an alternative or additional cause of action for the purpose of  recovering in the Required Currency the amount, if any, by which such actual receipt shall fall  short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not  be affected by judgment being obtained for any other sum due under this Indenture. For purposes  of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal  holiday in The City of New York on which banking institutions are authorized or required by  law, regulation or executive order to close.  Section 10.17 Force Majeure.  In no event shall the Trustee be responsible or liable for any failure or delay in the  performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces  beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war  or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God,  outbreaks of mass illness or pandemics, and interruptions, loss or malfunctions of utilities,  communications or computer (software and hardware) services, it being understood that the  Trustee shall use reasonable best efforts which are consistent with accepted practices in the  banking industry to resume performance as soon as practicable under the circumstances.  Section 10.18 U.S.A. Patriot Act.  

 

  45  The parties hereto acknowledge that in accordance with Section 326 of the U.S.A.  Patriot Act, the Trustee, like all financial institutions and in order to help fight the funding of  terrorism and money laundering, is required to obtain, verify, and record information that  identifies each person or legal entity that establishes a relationship or opens an account with the  Trustee. The parties to this Indenture agree that they will provide the Trustee with such  information as it may request in order for the Trustee to satisfy the requirements of the U.S.A.  Patriot Act.  ARTICLE XI  SINKING FUNDS  Section 11.1 Applicability of Article.  The provisions of this Article shall be applicable to any sinking fund for the  retirement of the Securities of a Series if so provided by the terms of such Securities pursuant to  Section 2.2 and except as otherwise permitted or required by any form of Security of such Series  issued pursuant to this Indenture.  The minimum amount of any sinking fund payment provided for by the terms of  the Securities of any Series is herein referred to as a “mandatory sinking fund payment” and any  other amount provided for by the terms of Securities of such Series is herein referred to as an  “optional sinking fund payment.” If provided for by the terms of Securities of any Series, the  cash amount of any sinking fund payment may be subject to reduction as provided in Section  11.2. Each sinking fund payment shall be applied to the redemption of Securities of any Series as  provided for by the terms of the Securities of such Series.  Section 11.2 Satisfaction of Sinking Fund Payments with Securities.  The Company may, in satisfaction of all or any part of any sinking fund payment  with respect to the Securities of any Series to be made pursuant to the terms of such Securities  (1) deliver outstanding Securities of such Series to which such sinking fund payment is  applicable (other than any of such Securities previously called for mandatory sinking fund  redemption) and (2) apply as credit Securities of such Series to which such sinking fund payment  is applicable and which have been repurchased by the Company or redeemed either at the  election of the Company pursuant to the terms of such Series of Securities (except pursuant to  any mandatory sinking fund) or through the application of permitted optional sinking fund  payments or other optional redemptions pursuant to the terms of such Securities, provided that  such Securities have not been previously so credited. Such Securities shall be received by the  Trustee, together with an Officer’s Certificate with respect thereto, not later than 15 days prior to  the date on which the Trustee begins the process of selecting Securities for redemption, and shall  be credited for such purpose by the Trustee at the price specified in such Securities for  redemption through operation of the sinking fund and the amount of such sinking fund payment  shall be reduced accordingly. If as a result of the delivery or credit of Securities in lieu of cash  payments pursuant to this Section 11.2, the principal amount of Securities of such Series to be  redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee  need not call Securities of such Series for redemption, except upon receipt of a Company Order  that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent  

 

  46  and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or  such Paying Agent shall from time to time upon receipt of a Company Order pay over and  deliver to the Company any cash payment so being held by the Trustee or such Paying Agent  upon delivery by the Company to the Trustee of Securities of that Series purchased by the  Company having an unpaid principal amount equal to the cash payment required to be released  to the Company.  Section 11.3 Redemption of Securities for Sinking Fund.  Not less than 45 days (unless otherwise indicated in the Board Resolution,  supplemental indenture hereto or Officer’s Certificate in respect of a particular Series of  Securities) prior to each sinking fund payment date for any Series of Securities, the Company  will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing  mandatory sinking fund payment for that Series pursuant to the terms of that Series, the portion  thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which  is to be satisfied by delivering and crediting of Securities of that Series pursuant to Section 11.2,  and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund  payment, and the Company shall thereupon be obligated to pay the amount therein specified. Not  less than 30 days (unless otherwise indicated in the Board Resolution, Officer’s Certificate or  supplemental indenture in respect of a particular Series of Securities) before each such sinking  fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund  payment date in the manner specified in Section 3.2 and cause notice of the redemption thereof  to be given in the name of and at the expense of the Company in the manner provided in Section  3.3. Such notice having been duly given, the redemption of such Securities shall be made upon  the terms and in the manner stated in Sections 3.4, 3.5 and 3.6.    [Signature page follows]  

 

      IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be  duly executed as of the day and year first above written.     VECTOR GROUP LTD.    By:     Name:   Its:       U.S. Bank Trust Company, National Association, as  Trustee    By:      Name:   Its:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00348-of-00352.parquet"}]]