Document:

EX-10.2

 

EXHIBIT 10.2

Company Name

Baldwin Technology Company Ltd

2 Trap Falls Road

Shelton, C.T. 06484

FAX TRANSMITTAL FORM

 

	 	 	 	 	 
	To:

	 	Mr. G.A. Nathe
	 	From: Dr. Fred Westlake
	 

	 	Chairman
	 	Date Sent: 5th December, 2006
	 
	 	 	 	 
	 

	 	 	 	Number of Pages: 2

Fax: 091 203 4025500

 

Message Board Resignation

 

 

Dr. FRED & CAROL WESTLAKE

Tingara

Fireball Hill, Sunningdale

Berkshire SL5 9PJ

Mr. G.A. Nathe

Chairman

Baldwin Technology Company Ltd

2 Trap Falls Road

Shelton, C.T. 06484

5th December, 2006

Dear Gerry,

This letter is my formal notification to the Company upon tendering my resignation from the Board.
May I take this opportunity to say how much I enjoyed meeting you and your colleagues and learning
something about your business.

Please pass on my best wishes for the upcoming festive season to all your Board members.

Yours Sincerely

/s/ Fred Westlake

DR. FRED WESTLAKE

	 	 	 
	TINGARA

	 	Tel: 01344 628281 Fax: 01344 291064exv4w1

 

Exhibit 4.1

 

Complete Production Services, Inc. 

and 

the Guarantors Named Herein

INDENTURE 

Dated as of December 6, 2006

Wells Fargo Bank, National Association,

as Trustee

8% Senior Notes due 2016

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	ARTICLE 1. DEFINITIONS AND INCORPORATION BY REFERENCE	 	 	1	 
	 
	 	 	 	 	 	 
	Section 1.01.
	 	Definitions	 	 	1	 
	Section 1.02.
	 	Other Definitions	 	 	22	 
	Section 1.03.
	 	Incorporation by Reference of Trust Indenture Act	 	 	23	 
	Section 1.04.
	 	Rules of Construction	 	 	23	 
	 
	 	 	 	 	 	 
	ARTICLE 2. THE NOTES	 	 	24	 
	 
	 	 	 	 	 	 
	Section 2.01.
	 	Form and Dating	 	 	24	 
	Section 2.02.
	 	Execution and Authentication	 	 	25	 
	Section 2.03.
	 	Registrar and Paying Agent	 	 	25	 
	Section 2.04.
	 	Paying Agent to Hold Money in Trust	 	 	26	 
	Section 2.05.
	 	Holder Lists	 	 	26	 
	Section 2.06.
	 	Transfer and Exchange	 	 	26	 
	Section 2.07.
	 	Replacement Notes	 	 	36	 
	Section 2.08.
	 	Outstanding Notes	 	 	36	 
	Section 2.09.
	 	Temporary Notes	 	 	36	 
	Section 2.10.
	 	Cancellation	 	 	37	 
	Section 2.11.
	 	Defaulted Interest	 	 	37	 
	Section 2.12.
	 	CUSIP Numbers	 	 	37	 
	 
	 	 	 	 	 	 
	ARTICLE 3. REDEMPTION AND PREPAYMENT	 	 	38	 
	 
	 	 	 	 	 	 
	Section 3.01.
	 	Notices to Trustee	 	 	38	 
	Section 3.02.
	 	Selection of Notes to Be Redeemed	 	 	38	 
	Section 3.03.
	 	Notice of Redemption	 	 	38	 
	Section 3.04.
	 	Effect of Notice of Redemption	 	 	39	 
	Section 3.05.
	 	Deposit of Redemption Price	 	 	39	 
	Section 3.06.
	 	Notes Redeemed in Part	 	 	40	 
	Section 3.07.
	 	Optional Redemption	 	 	40	 
	Section 3.08.
	 	Procedures for Asset Sale Offers	 	 	40	 
	 
	 	 	 	 	 	 
	ARTICLE 4. COVENANTS	 	 	42	 
	 
	 	 	 	 	 	 
	Section 4.01.
	 	Payment of Notes	 	 	42	 
	Section 4.02.
	 	Maintenance of Office or Agency	 	 	42	 
	Section 4.03.
	 	Reports	 	 	42	 
	Section 4.04.
	 	Compliance Certificate	 	 	43	 
	Section 4.05.
	 	Taxes	 	 	44	 
	Section 4.06.
	 	Stay, Extension and Usury Laws	 	 	44	 
	Section 4.07.
	 	Restricted Payments	 	 	44	 
	Section 4.08.
	 	Dividend and Other Payment Restrictions Affecting Subsidiaries	 	 	48	 
	Section 4.09.
	 	Incurrence of Indebtedness	 	 	49	 
	Section 4.10.
	 	Transactions with Affiliates	 	 	50	 
	Section 4.11.
	 	Liens	 	 	51	 
	Section 4.12.
	 	Additional Subsidiary Guarantees	 	 	51	 
	Section 4.13.
	 	[Intentionally Omitted]	 	 	51	 
	Section 4.14.
	 	Corporate Existence	 	 	51	 

i

 

	 	 	 	 	 	 	 
	Section 4.15.
	 	Asset Sales	 	 	52	 
	Section 4.16.
	 	Offer to Repurchase upon Change of Control	 	 	53	 
	Section 4.17.
	 	Limitations on Line of Business	 	 	54	 
	Section 4.18.
	 	Sale and Leaseback Transactions	 	 	54	 
	Section 4.19.
	 	Payments for Consent	 	 	55	 
	Section 4.20.
	 	Suspension of Covenants	 	 	55	 
	 
	 	 	 	 	 	 
	ARTICLE 5. SUCCESSORS	 	 	55	 
	 
	 	 	 	 	 	 
	Section 5.01.
	 	Merger, Consolidation, or Sale of Assets	 	 	55	 
	Section 5.02.
	 	Successor Corporation Substituted	 	 	56	 
	 
	 	 	 	 	 	 
	ARTICLE 6. DEFAULTS AND REMEDIES	 	 	56	 
	 
	 	 	 	 	 	 
	Section 6.01.
	 	Events of Default	 	 	56	 
	Section 6.02.
	 	Acceleration	 	 	58	 
	Section 6.03.
	 	Other Remedies	 	 	58	 
	Section 6.04.
	 	Waiver of Past Defaults	 	 	59	 
	Section 6.05.
	 	Control by Majority	 	 	59	 
	Section 6.06.
	 	Limitation on Suits	 	 	59	 
	Section 6.07.
	 	Rights of Holders of Notes to Receive Payment	 	 	60	 
	Section 6.08.
	 	Collection Suit by Trustee	 	 	60	 
	Section 6.09.
	 	Trustee May File Proofs of Claim	 	 	60	 
	Section 6.10.
	 	Priorities	 	 	61	 
	Section 6.11.
	 	Undertaking for Costs	 	 	61	 
	Section 6.12.
	 	Restoration of Rights and Remedies	 	 	61	 
	Section 6.13.
	 	Rights and Remedies Cumulative	 	 	62	 
	Section 6.14.
	 	Delay or Omission Not Waiver	 	 	62	 
	 
	 	 	 	 	 	 
	ARTICLE 7. TRUSTEE	 	 	62	 
	 
	 	 	 	 	 	 
	Section 7.01.
	 	Duties of Trustee	 	 	62	 
	Section 7.02.
	 	Rights of Trustee	 	 	63	 
	Section 7.03.
	 	Individual Rights of Trustee	 	 	64	 
	Section 7.04.
	 	Trustee’s Disclaimer	 	 	65	 
	Section 7.05.
	 	Notice of Defaults	 	 	65	 
	Section 7.06.
	 	Reports by Trustee to Holders of the Notes	 	 	65	 
	Section 7.07.
	 	Compensation and Indemnity	 	 	65	 
	Section 7.08.
	 	Replacement of Trustee	 	 	66	 
	Section 7.09.
	 	Successor Trustee by Merger, etc.	 	 	67	 
	Section 7.10.
	 	Eligibility; Disqualification	 	 	67	 
	Section 7.11.
	 	Preferential Collection of Claims Against Company	 	 	68	 
	 
	 	 	 	 	 	 
	ARTICLE 8. NOTE GUARANTEES	 	 	68	 
	 
	 	 	 	 	 	 
	Section 8.01.
	 	Subsidiary Guarantees	 	 	68	 
	Section 8.02.
	 	Form of Guarantees; Additional Guarantees	 	 	70	 
	Section 8.03.
	 	Limitation on Guarantor Liability	 	 	70	 
	Section 8.04.
	 	Merger and Consolidation of Guarantors	 	 	70	 
	Section 8.05.
	 	Release	 	 	71	 
	 
	 	 	 	 	 	 
	ARTICLE 9. LEGAL DEFEASANCE AND COVENANT DEFEASANCE	 	 	72	 

ii

 

	 	 	 	 	 	 	 
	Section 9.01.
	 	Option to Effect Legal Defeasance or Covenant Defeasance	 	 	72	 
	Section 9.02.
	 	Legal Defeasance and Discharge	 	 	72	 
	Section 9.03.
	 	Covenant Defeasance	 	 	72	 
	Section 9.04.
	 	Conditions to Legal or Covenant Defeasance	 	 	73	 
	Section 9.05.
	 	Deposited Money and U.S. Government Securities to Be Held in	 	 	 	 
	 
	 	Trust; Other Miscellaneous Provisions	 	 	74	 
	Section 9.06.
	 	Repayment to the Company	 	 	74	 
	Section 9.07.
	 	Reinstatement	 	 	75	 
	 
	 	 	 	 	 	 
	ARTICLE 10. AMENDMENT, SUPPLEMENT AND WAIVER	 	 	75	 
	 
	 	 	 	 	 	 
	Section 10.01.
	 	Without Consent of Holders of Notes	 	 	75	 
	Section 10.02.
	 	With Consent of Holders of Notes	 	 	76	 
	Section 10.03.
	 	Compliance with Trust Indenture Act	 	 	77	 
	Section 10.04.
	 	Revocation and Effect of Consents	 	 	77	 
	Section 10.05.
	 	Notation on or Exchange of Notes	 	 	77	 
	Section 10.06.
	 	Trustee to Sign Amendments, etc.	 	 	77	 
	 
	 	 	 	 	 	 
	ARTICLE 11. SATISFACTION AND DISCHARGE	 	 	78	 
	 
	 	 	 	 	 	 
	Section 11.01.
	 	Satisfaction and Discharge	 	 	78	 
	Section 11.02.
	 	Application of Trust	 	 	79	 
	 
	 	 	 	 	 	 
	ARTICLE 12. MISCELLANEOUS	 	 	79	 
	 
	 	 	 	 	 	 
	Section 12.01.
	 	Trust Indenture Act Controls	 	 	79	 
	Section 12.02.
	 	Notices	 	 	79	 
	Section 12.03.
	 	Communication by Holders of Notes with Other Holders of Notes	 	 	80	 
	Section 12.04.
	 	Certificate and Opinion as to Conditions Precedent	 	 	80	 
	Section 12.05.
	 	Statements Required in Certificate or Opinion	 	 	81	 
	Section 12.06.
	 	Rules by Trustee and Agents	 	 	81	 
	Section 12.07.
	 	No Personal Liability of Directors, Officers, Employees and Stockholders	 	 	81	 
	Section 12.08.
	 	Governing Law	 	 	81	 
	Section 12.09.
	 	No Adverse Interpretation of Other Agreements	 	 	82	 
	Section 12.10.
	 	Successors	 	 	82	 
	Section 12.11.
	 	Severability	 	 	82	 
	Section 12.12.
	 	Counterpart Originals	 	 	82	 
	Section 12.13.
	 	Table of Contents, Headings, etc.	 	 	82	 

EXHIBITS

	 	 	 
	Exhibit A:

	 	FORM OF NOTE
	Exhibit B:

	 	FORM OF CERTIFICATE OF TRANSFER
	Exhibit C:

	 	FORM OF CERTIFICATE OF EXCHANGE
	Exhibit D:

	 	FORM OF CERTIFICATE FROM ACQUIRING
	 

	 	INSTITUTIONAL ACCREDITED INVESTOR

iii

 

CROSS-REFERENCE TABLE*

Trust Indenture Act

	 	 	 
	TIA Section	 	Indenture Section
	310 (a)(1)
	 	7.10
	  (a)(2)
	 	7.10
	  (a)(3)
	 	N.A.
	  (a)(4)
	 	N.A.
	  (a)(5)
	 	7.10
	  (b)
	 	7.08; 7.10
	  (c)
	 	N.A.
	311 (a)
	 	7.11
	  (b)
	 	7.11
	  (c)
	 	N.A.
	312 (a)
	 	2.05
	  (b)
	 	12.03
	  (c)
	 	12.03
	313 (a)
	 	7.06
	  (b)(1)
	 	N.A.
	  (b)(2)
	 	7.06
	  (c)
	 	7.06; 12.02
	  (d)
	 	7.06
	314 (a)
	 	4.03; 4.04(a); 12.02
	  (b)
	 	N.A.
	  (c)(1)
	 	12.04
	  (c)(2)
	 	12.04
	  (c)(3)
	 	N.A.
	  (d)
	 	N.A.
	  (e)
	 	12.05
	  (f)
	 	N.A.
	315 (a)
	 	7.01
	  (b)
	 	7.05; 12.02
	  (c)
	 	7.01
	  (d)
	 	7.01
	  (e)
	 	6.11
	316 (a)(1)(A)
	 	6.05
	  (a)(1)(B)
	 	6.04
	  (a)(2)
	 	N.A.
	  (b)
	 	6.07
	  (c)
	 	N.A.
	317 (a)(1)
	 	6.08
	  (a)(2)
	 	6.09
	  (b)
	 	2.04
	318 (a)
	 	12.01

iv

 

	 	 	 
	TIA Section	 	Indenture Section
	  (b)
	 	N.A.
	  (c)
	 	12.01

N.A. means not applicable.

 

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

v

 

     INDENTURE, dated as of December 6, 2006 (the “Indenture”), among Complete Production Services,
Inc., a Delaware corporation (the “Company”), the Guarantors identified herein and Wells Fargo
Bank, National Association, as Trustee (the “Trustee”).

     The Company, the Guarantors and the Trustee agree as follows for the benefit of each other and
for the equal and ratable benefit of the registered holders (the “Holders”) of the 8% Senior Notes
due 2016 (the “Initial Notes”) and the 8% Senior Notes due 2016 to be issued in exchange for such
Initial Notes in the Exchange Offer (the “Exchange Notes” and, together with the Initial Notes and
any Additional Notes that may be issued in the future in accordance with Article 2, the “Notes”):

ARTICLE 1.

DEFINITIONS AND INCORPORATION BY REFERENCE

Section 1.01. Definitions.

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

     “Acquired Indebtedness” means, with respect to any specified Person, (i) Indebtedness of any
other Person existing at the time such other Person merged with or into or became a Subsidiary of
such specified Person, including Indebtedness incurred in connection with, or in contemplation of,
such other Person merging with or into or becoming a Subsidiary of such specified Person and (ii)
Indebtedness encumbering any asset acquired by such specified Person; provided that, for purposes
of clause (8) of the definition of “Permitted Indebtedness,” such Indebtedness was not incurred in
contemplation of, or in connection with, such merger, asset acquisition or such Person becoming a
Subsidiary, as the case may be.

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

     “Additional Notes” means Notes issued pursuant to Article 2 and in compliance with Section
4.09 after the Issue Date.

     “Affiliate” means, with respect to any specified Person, any other Person directly or
indirectly controlling or controlled by, or under direct or indirect common control with, such
specified Person. For purposes of this definition, “control” shall mean the power to direct
management and policies, whether through the ownership of voting securities, by contract or
otherwise. Notwithstanding the foregoing, the term “Affiliate” shall not include any Wholly-Owned
Restricted Subsidiary.

     “Applicable Premium” means, with respect to any note on any redemption date, the greater of:
(a) 1.0% of the principal amount of the note, and (b) the excess of (1) the present value at such
redemption date of (A) the redemption price of the note at December 15, 2011 (such redemption price
being set forth in paragraph 5 of the Note attached hereto) plus (B) all

1

 

required interest payments
due on the note during the period from such redemption date through
December 15, 2011 (excluding accrued but unpaid interest), computed using a discount rate
equal to the Treasury Rate as of such redemption date plus 50 basis points over (2) the principal
amount of the note.

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

     “Asset Acquisition” means: (1) an Investment by the Company or any Restricted Subsidiary in
any other Person pursuant to which the Person shall become a Restricted Subsidiary, or shall be
merged with or into the Company or any Restricted Subsidiary; (2) the acquisition by the Company or
any Restricted Subsidiary of the assets of any Person, other than a Restricted Subsidiary, which
constitute all or substantially all of the assets of such Person; or (3) the acquisition by the
Company or any Restricted Subsidiary of any division or line of business of any Person, other than
a Restricted Subsidiary.

     “Asset Sale” means: (1) the sale, lease, conveyance or other disposition of any assets or
rights, other than sales of inventory or equipment in the ordinary course of business; provided
that the sale, conveyance or other disposition of all or substantially all of the assets of the
Company and its Restricted Subsidiaries taken as a whole will be governed by the provisions of
Section 4.16 and/or Section 5.01 and not by the provisions of Section 4.15; and (2) the issuance of
Equity Interests in any of its Restricted Subsidiaries or the sale of Equity Interests in any of
its Restricted Subsidiaries.

     Notwithstanding the preceding, the following items will not be deemed to be Asset Sales: (1)
any single transaction or series of related transactions that involves assets having a fair market
value of less than $5.0 million; (2) a transfer of assets between or among the Company and its
Restricted Subsidiaries; (3) the granting of any Liens permitted by this Indenture and any
foreclosure thereof; (4) leases or licenses in the ordinary course of business; (5) sales or
dispositions of assets in concurrent exchange for capital assets used or useful in a Permitted
Business, provided such assets have a fair market value equal to or greater than the assets sold or
disposed of (for the avoidance of doubt, the foregoing excludes a sale or disposition in connection
with a Sale and Leaseback Transaction); (6) an issuance of Equity Interests by a Restricted
Subsidiary to the Company or to another Restricted Subsidiary; and (7) a Restricted Payment or
Permitted Investment that is permitted by Section 4.07.

     “Attributable Debt” means, with respect to any Sale and Leaseback Transactions not involving a
Capital Lease, as of any date of determination, the total obligation, discounted to present value
at the rate of interest implicit in the lease included in the transaction, of the lessee for rental
payments during the remaining portion of the term of the lease, including extensions which are at
the sole option of the lessor, of the lease included in the transaction. For purposes of this
definition, the rental payments shall not include amounts required to be paid on account of
property taxes, maintenance, repairs, insurance, assessments, utilities, operating and labor costs
and other items which do not constitute payments for property rights. In the case of any lease
which is terminable by the lessee upon the payment of a penalty, the rental obligation shall also

2

 

include the amount of the penalty, but no rent shall be considered as required to be paid under
such lease subsequent to the first date upon which it may be so terminated.

     “Bankruptcy Law” means Title 11, U.S. Code or any similar federal or state law for the relief
of debtors.

     “Board of Directors” means: (1) with respect to a corporation, the board of directors or a
duly authorized committee of the board of directors of the corporation; (2) with respect to a
partnership, the board of directors or a duly authorized committee of the board of directors of the
general partner of the partnership; and (3) with respect to any other Person, the board or
committee of such Person serving a similar function.

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

     “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on
which banking institutions in The City of New York or Houston, Texas are authorized or obligated by
law, regulation or executive order to close.

     “Capital Lease” means, as applied to any Person, any lease of any property (whether real,
personal or mixed) by such Person (as lessee or guarantor or other surety) which would, in
accordance with GAAP, be required to be classified and accounted for as a capital lease on a
balance sheet of such Person.

     “Capital Stock” means (1) in the case of a corporation, corporate stock; (2) in the case of an
association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; (3) in the case of a partnership or limited
liability company, partnership or membership interests (whether general or limited); and (4) any
other interest or participation that confers on a Person the right to receive a share of the
profits and losses of, or distributions of assets of, the issuing Person.

     “Change of Control” means: (1) any “person” or “group” (as such terms are used in Sections
13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of
such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent
or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in
Rules 13d-3 and 14d-5 under the Securities Exchange Act of 1934, except that a person or group
shall be deemed to have “beneficial ownership” of all securities that such person or group has the
right to acquire (such right, an “option right”) whether such right is exercisable immediately or
only after the passage of time), directly or indirectly, of 50% or more of the equity securities of
the Company entitled to vote for members of the Board of Directors or equivalent governing body of
the Company on a fully-diluted basis (and taking into account all such securities that such person
or group has the right to acquire pursuant to any option right) other than a transaction involving
a merger of the Company into a wholly-owned subsidiary of a Person if following such transaction
the common stock of the Company outstanding immediately prior to such transaction is changed into
or exchanged for, in addition to any other consideration,

3

 

securities of such acquiring Person that
represent immediately after such transactions at least a majority of the common stock of such
Person; or (2) during any period of 12 consecutive months, a majority of the members of the Board
of Directors or other equivalent governing body of the Company ceases to be composed of individuals
(A) who were members of that board or equivalent governing body on the first day of such period,
(B) whose election or nomination to
that board or equivalent governing body was approved by individuals referred to in clause (A)
above constituting at the time of such election or nomination at least a majority of that board or
equivalent governing body or (C) whose election or nomination to that board or other equivalent
governing body was approved by individuals referred to in clauses (A) and (B) above constituting at
the time of such election or nomination at least a majority of that board or equivalent governing
body.

     “Clearstream” means Clearstream Banking, société anonyme, Luxembourg.

     “Company” means Complete Production Services, Inc., until a successor replaces it and
thereafter, means the successor.

     “Consolidated Cash Flow Available for Fixed Charges” means, with respect to the Company and
its Restricted Subsidiaries, for any period, the sum of, without duplication, the amounts for the
period, taken as single accounting, of: (1) Consolidated Net Income; (2) Consolidated Non-cash
Charges; (3) Consolidated Interest Expense; and (4) Consolidated Income Tax Expense.

     “Consolidated Fixed Charge Coverage Ratio” means, with respect to the Company and its
Restricted Subsidiaries, the ratio of: (1) the aggregate amount of Consolidated Cash Flow Available
for Fixed Charges for the four full fiscal quarters immediately preceding the date of the
transaction (the “Transaction Date”) giving rise to the need to calculate the Consolidated Fixed
Charge Coverage Ratio (the “Four Quarter Period”); to (2) the aggregate amount of Consolidated
Fixed Charges for the Four Quarter Period.

In addition to and without limitation of the foregoing, for purposes of this definition,
“Consolidated Cash Flow Available for Fixed Charges” and “Consolidated Fixed Charges” shall be
calculated after giving effect on a pro forma basis for the period of the calculation to, without
duplication:

     (a) the incurrence or repayment of any Indebtedness, other than revolving credit borrowings,
of the Company or any of its Restricted Subsidiaries (and in the case of any incurrence, the
application of the net proceeds thereof) during the period commencing on the first day of the Four
Quarter Period to and including the Transaction Date (the “Reference Period”), including, without
limitation, the incurrence of the Indebtedness giving rise to the need to make the calculation (and
the application of the net proceeds thereof), as if the incurrence (and application) occurred on
the first day of the Reference Period; and

     (b) any Asset Sales or Asset Acquisitions (including, without limitation, any Asset
Acquisition giving rise to the need to make the calculation as a result of the Company or one of
its Restricted Subsidiaries, including any Person who becomes a Restricted Subsidiary as a result
of the Asset Acquisition, incurring, assuming or otherwise being liable for Acquired

4

 

Indebtedness)
occurring during the Reference Period, as if the Asset Sale or Asset Acquisition occurred on the
first day of the Reference Period; provided, however, that:

     (i) Consolidated Fixed Charges will be reduced by amounts attributable to businesses or
assets that are so disposed of or discontinued only to the extent that the obligations
giving rise to such Consolidated Fixed Charges would no longer be
obligations contributing to the Consolidated Fixed Charges subsequent to the date of
determination of the Consolidated Fixed Charge Coverage Ratio;

     (ii) Consolidated Cash Flow Available for Fixed Charges generated by an acquired
business or asset shall be determined by the actual gross profit, which is equal to revenues
minus cost of goods sold, of the acquired business or asset during the immediately preceding
four full fiscal quarters in the Reference Period, minus the pro forma expenses that would
have been incurred by the Company and its Restricted Subsidiaries in the operation of the
acquired business or asset during the period computed on the basis of personnel expenses for
employees retained or to be retained by the Company and its Restricted Subsidiaries in the
operation of the acquired business or asset and non-personnel costs and expenses incurred by
the Company and its Restricted Subsidiaries in the operation of the Company’s business at
similarly situated facilities.

     Furthermore, in calculating “Consolidated Fixed Charges” for purposes of determining the
“Consolidated Fixed Charge Coverage Ratio”:

     (A) interest on outstanding Indebtedness, other than Indebtedness referred to in the item (B),
determined on a fluctuating basis as of the last day of the Four Quarter Period and which will
continue to be so determined thereafter shall be deemed to have accrued at a fixed rate per annum
equal to the rate of interest on such Indebtedness in effect on that date;

     (B) only actual interest payments associated with Indebtedness incurred in accordance with
clause (4) of the definition of Permitted Indebtedness and all Permitted Refinancing Indebtedness
in respect thereof, during the Four Quarter Period shall be included in the calculation; and

     (C) if interest on any Indebtedness actually incurred on the date may optionally be determined
at an interest rate based upon a factor of a prime or similar rate, a Eurocurrency interbank
offered rate, or other rates, then the interest rate in effect on the last day of the Four Quarter
Period will be deemed to have been in effect during the period.

     “Consolidated Fixed Charges” means, with respect to the Company and its Restricted
Subsidiaries for any period, the sum of, without duplication, (a) the amounts for such period of
Consolidated Interest Expense and (b) the product of (i) the aggregate amount of dividends and
other distributions paid or accrued during such period in respect of Disqualified Stock or
preferred stock of the Company and its Restricted Subsidiaries on a consolidated basis and (ii) a
fraction, the numerator of which is one and the denominator of which is one minus the then
applicable current combined federal, state and local statutory tax rate, expressed as a percentage.

     “Consolidated Income Tax Expense” means, with respect to the Company and the Restricted
Subsidiaries for any period, the provision for federal, state, local and foreign income

5

 

taxes of
the Company and its Restricted Subsidiaries for the period as determined on a consolidated basis in
accordance with GAAP.

     “Consolidated Interest Expense” means, with respect to the Company and its Restricted
Subsidiaries, for any period, without duplication, the sum of:

     (a) the interest expense of the Company and its Restricted Subsidiaries for the period as
determined on a consolidated basis in accordance with GAAP, including, without limitation:

     (i) any amortization of debt discount;

     (ii) the net cost under Interest Rate Agreements;

     (iii) the interest portion of any deferred payment obligation;

     (iv) all commissions, discounts and other fees and charges owed with respect to letters
of credit and bankers’ acceptance financing;

     (v) all accrued interest for all instruments evidencing Indebtedness; and

     (vi) the interest component of Capital Leases;

in each case paid or accrued by the Company and its Restricted Subsidiaries during the period as
determined on a consolidated basis in accordance with GAAP.

     “Consolidated Net Income” means the net income of the Company and its Restricted Subsidiaries,
as determined on a consolidated basis in accordance with GAAP and as adjusted to exclude: (1) net
after-tax extraordinary gains or losses; (2) net after-tax gains or losses attributable to Asset
Sales; (3) the net income (or loss) of any Person which is not a Restricted Subsidiary or which is
accounted for by the equity method of accounting; provided that Consolidated Net Income shall
include (i) the net income of such Person to the extent of the amounts of dividends or
distributions actually paid to the Company or any Restricted Subsidiary and (ii) the net loss of
such Person to the extent such loss has been funded with cash from the Company or a Restricted
Subsidiary; (4) the net income or loss prior to the date of acquisition of any Person combined with
the Company or any Restricted Subsidiary in a pooling of interests transaction; (5) the net income
(but not loss) of any Restricted Subsidiary to the extent that dividends or distributions of that
net income are not at the date of determination permitted by the terms of its charter or any
agreement, instrument, judgment, decree, order, statute, rule or other regulation; (6) the
cumulative effect of any changes in accounting principles; and (7) non-cash charges relating to
employee compensation expenses.

     “Consolidated Non-Cash Charges” means, with respect to the Company and its Restricted
Subsidiaries for any period, the aggregate depreciation, amortization and any other non-cash
charges resulting from write-downs of non-current assets, in each case which reduces the
Consolidated Net Income of the Company and its Restricted Subsidiaries for the period, as
determined on a consolidated basis in accordance with GAAP.

6

 

     “Consolidated Tangible Assets” means, with respect to any Person as of any date, the amount
which, in accordance with GAAP, would be set forth under the caption “Total Assets” (or any like
caption) on a consolidated balance sheet of such Person and its Restricted Subsidiaries, less all
goodwill, patents, tradenames, trademarks, copyrights, franchises, experimental expenses,
organization expenses and any other amounts classified as intangible assets in accordance with
GAAP.

     “Corporate Trust Office of the Trustee” shall be at the address of the Trustee specified in
Section 12.02 hereof or such other address as to which the Trustee may give notice to the Company.

     “Credit Agreement” means the Second Amended and Restated Credit Agreement, dated as of
December 6, 2006, among the Company, Integrated Production Services, Ltd., the agents and the other
banks which are or become parties from time to time thereto, as it has been and may be amended,
supplemented or otherwise modified from time to time, including all exhibits and schedules thereto,
and any successor or supplement facility entered into in the compliance with this Indenture.

     “Credit Facilities” mean, one or more debt facilities (including, without limitation, the
Credit Agreement) or commercial paper facilities, in each case with banks or other institutional
lenders providing for revolving credit loans, term loan, receivables financing (including through
the sale of receivables to such lenders or to special purpose entities formed to borrow from such
lenders against such receivables) or letters of credit, in each case, as amended, restated,
modified, renewed, refunded, replaced or refinanced in whole or in part from time to time.

     “Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any
successor thereto.

     “Default” means any event that is, or after notice or passage of time or both would be, an
Event of Default.

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

     “Depositary” means The Depository Trust Company, until a successor shall have been appointed
and become such Depositary pursuant to this Indenture and shall mean its successor.

     “Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any
security into which it is convertible, or for which it is exchangeable, in each case at the option
of the holder of the Capital Stock), or upon the happening of any event (other than upon an
optional redemption by the Company), matures or is mandatorily redeemable, pursuant to a sinking
fund obligation or otherwise, or redeemable at the option of the holder of the Capital Stock, in
whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature.
Notwithstanding the preceding sentence, any Capital Stock that would constitute Disqualified Stock
solely because the holders of the Capital Stock have the right to require the Company to repurchase
such Capital Stock upon the occurrence of a Change of Control or an Asset Sale will

7

 

not constitute
Disqualified Stock if the terms of such Capital Stock provide that the Company may not repurchase
or redeem any such Capital Stock pursuant to such provisions unless such repurchase or redemption
complies with Section 4.07

     “Domestic Subsidiary” means any one of the Restricted Subsidiaries that was formed under the
laws of the United States or any state of the United States or the District of Columbia.

     “DTC” means The Depository Trust Company.

     “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire
Capital Stock (but excluding any debt security that is convertible into, or exchangeable for,
Capital Stock).

     “Euroclear” means Euroclear Bank SA/NV, as operator of the Euroclear System.

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

     “Exchange Notes” means the Notes to be issued in the Exchange Offer pursuant to Section 2.06
hereof.

     “Exchange Offer” means the Registered Exchange Offer contemplated by the Registration Rights
Agreement.

     “Exchange Offer Registration Statement” has the meaning set forth in the Registration Rights
Agreement.

     “Exchanging Dealer” means a broker-dealer that exchanges Notes in a Registered Exchange Offer
that it has acquired for its own account as a result of market making activities or other trading
activities.

     “Foreign Restricted Subsidiary” means any of the Restricted Subsidiaries that is not a
Domestic Subsidiary.

     “GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public
Accountants and in the 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, as in effect from time to time.

     “Global Note Legend” means the legend set forth in Section 2.06(g)(2), which is required to be
placed on all Global Notes issued under this Indenture.

     “Global Notes” means, individually and collectively, each of the Restricted Global Notes and
the Unrestricted Global Notes in the form of Exhibit A hereto issued in accordance with Section
2.01, 2.06(b)(iv), 2.06(c) or 2.06(f) hereof.

     “Government Securities” means direct obligations of, or obligations fully and unconditionally
guaranteed or insured by, the United States of America or any agency or

8

 

instrumentality thereof for
the payment of which obligations or guarantee the full faith and credit of the United States is
pledged and which are not callable or redeemable at the issuer’s option.

     “guarantee” means a guarantee other than by endorsement of negotiable instruments for
collection in the ordinary course of business, direct or indirect, in any manner including, without
limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements
in respect thereof, of all or any part of any Indebtedness.

     “Guarantors” means each of (1) the Domestic Subsidiaries that are party to this Indenture on
the date hereof; and (2) any other Subsidiary that executes a Subsidiary Guarantee in accordance
with the provisions of this Indenture; and their respective successors and assigns.

     “incur” means create, incur, issue, assume, guarantee or in any manner become directly or
indirectly liable, contingently or otherwise, for the payment of any Indebtedness. The term
“incurrence” when used as a noun shall have a correlative meaning. The accretion of principal of a
non-interest bearing or other discount security shall not be deemed the incurrence of Indebtedness.

     “Indebtedness” means, as applied to any Person, without duplication: (1) any indebtedness for
borrowed money and all obligations evidenced by any bond, note, debenture or other similar
instrument or letter of credit, or reimbursement agreements in respect thereof, which the Person
has, directly or indirectly, created, incurred or assumed; (2) any indebtedness for borrowed money
and all obligations evidenced by any bond, note, debenture or other similar instrument secured by
any lien in respect of property owned by the Person, whether or not the Person has assumed or
become liable for the payment of the Indebtedness; provided that the amount of the Indebtedness, if
the Person has not assumed the same or become liable therefor, shall in no event be deemed to be
greater than the fair market value from time to time, as determined in good faith by the Person, of
the property subject to the lien; (3) any indebtedness, whether or not for borrowed money,
excluding trade payables and accrued expenses arising in the ordinary course of business, with
respect to which the Person has become directly or indirectly liable and which represents the
deferred purchase price, or a portion thereof, or has been incurred to finance the purchase price,
or a portion thereof, in each case due more than 6 months in the future of any property or service
or business acquired by the Person, whether by purchase, consolidation, merger or otherwise; (4)
the principal component of any obligations under Capital Leases to the extent the obligations
would, in accordance with GAAP, appear on the balance sheet of the Person; (5) all Attributable
Debt of the Person in respect of Sale and Leaseback Transactions not involving a Capital Lease; (6)
any indebtedness of any other Person of the character referred to in clauses (1) through (5) above
with respect to which the Person whose Indebtedness is being determined has become liable by way of
a guaranty; (7) all Disqualified Stock of the Person valued at the greater of its voluntary or
involuntary maximum fixed repurchase price; (8) any preferred stock of any Restricted Subsidiary of
the Person other than a Guarantor valued at the liquidation preference thereof or any mandatory
redemption payment obligations in respect thereof.

For purposes hereof, the “maximum fixed repurchase price” of any Disqualified Stock which does not
have a fixed repurchase price shall be calculated in accordance with the terms of the Disqualified
Stock as if it were purchased on any date on which Indebtedness shall be required to

9

 

be determined
pursuant to this Indenture and if the price is based upon, or measured by, the fair market value of
the Disqualified Stock, the fair market value shall be determined in good faith by the Board of
Directors of the issuer of the Disqualified Stock.

     “Indenture” means this Indenture, as amended or supplemented from time to time in accordance
with Article 10 hereof.

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

     “Initial Notes” means $650,000,000 in aggregate principal amount of Notes issued under this
Indenture on the date hereof.

     “Initial Purchasers” means Credit Suisse Securities (USA) LLC, Wells Fargo Securities, LLC,
Comerica Securities, Inc and J.P. Morgan Securities Inc.

     “Interest Rate Agreements” means, with respect to the Company and its Restricted Subsidiaries,
the obligations of such Persons under (a) interest rate swap agreements, interest rate cap
agreements and interest rate collar agreements and (b) other agreements or arrangements designed to
protect any such Person or any of its Subsidiaries against fluctuations in interest rates.

     “Institutional Accredited Investor” means an “accredited investor” within the meaning of Rule
501(a)(1), (2), (3) or (7) under the Securities Act.

     “Investment” means, as applied to any Person: (1) any purchase or other acquisition by the
Person of Indebtedness, Equity Interests or other securities of any other Person; or (2) any loan,
advance or capital contribution by the Person to any other Person and any other item which would be
classified as an “investment” on a balance sheet of the Person prepared in accordance with GAAP,
including without limitation any contribution by the Person of property or assets to a joint
venture, partnership or other business entity in which the Person retains an interest, it being
understood that a purchase or other acquisition by the Person of assets of any other Person, other
than Indebtedness, Equity Interests or other securities, shall not constitute an “Investment” for
purposes of this Indenture. If the Company or any of its Restricted Subsidiaries sells or
otherwise disposes of any Equity Interests of any of the Company’s direct or indirect Restricted
Subsidiaries such that, after giving effect to any such sale or disposition, such Person is no
longer a Subsidiary of the Company, the Company will be deemed to have made an Investment on the
date of any such sale or disposition equal to the fair market value of the Equity Interests of such
Restricted Subsidiary not sold or disposed of. The amount classified as Investments made during
any period shall be the aggregate cost to the Company and its Restricted Subsidiaries of all the
Investments made during the period, determined in accordance with GAAP, but without regard to
unrealized increases or decreases in value, or write-ups, write-downs or write-offs, of the
Investments and without regard to the existence of any undistributed earnings or accrued interest
with respect thereto accrued after the respective dates on which the Investments were made, less
any net return of capital realized during the period upon the sale, repayment or other liquidation
of the Investments, determined in accordance with GAAP, but without regard to any amounts received
during the period as earnings (in the form of dividends not constituting a return of

10

 

capital,
interest or otherwise) on the Investments or as loans from any Person in whom the Investments have
been made.

     “Investment Grade Status” shall occur when the Notes receive a rating of “BBB?” or higher from
S&P (or its equivalent under any successor rating categories of S&P) and a rating of “Baa3” or
higher from Moody’s (or its equivalent under any successor rating categories of Moody’s) or, if
either such entity ceases to rate the Notes for reasons outside the normal control of the Company,
the equivalent investment grade credit rating from any other “nationally recognized statistical
rating organization”, as that term is used in Rule 15c3-1 under the Exchange Act, selected by the
Company as a replacement agency.

     “Issue Date” means December 6, 2006, the date of original issuance of the Notes.

     “Letter of Transmittal” means the letter of transmittal to be prepared by the Company and sent
to all Holders of the Notes for use by such Holders in connection with the Exchange Offer.

     “Lien” means, with respect to any asset, any mortgage, charge, pledge, lien (statutory or
other), security interest or encumbrance of any kind in respect of such asset whether or not filed,
recorded or otherwise perfected under applicable law. A Person shall be deemed to own subject to a
Lien any property which such Person has acquired or holds subject to a Capital Lease.

     “Liquidated Damages” means all Additional Interest then owing pursuant to the Registration
Rights Agreement.

     “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business
thereof.

     “Net Proceeds” means, with respect to any Asset Sale or sale of Capital Stock, the proceeds
therefrom in the form of cash or cash equivalents including payments in respect of deferred payment
obligations when received in the form of cash or cash equivalents, net of: (1) brokerage
commissions and other fees and expenses related to the Asset Sale, including, without limitation,
fees and expenses of legal counsel and accountants and fees, expenses, discounts or commissions of
underwriters, placement agents and investment bankers; (2) provisions for all taxes payable as a
result of the Asset Sale; (3) amounts required to be paid to any Person, other than the Company or
any Restricted Subsidiary, owning a beneficial interest in the assets subject to the Asset Sale;
(4) appropriate amounts to be provided by the Company or any Restricted Subsidiary, as the case may
be, as a reserve required in accordance with GAAP against any liabilities associated with the Asset
Sale and retained by the Company or any Restricted Subsidiary, as the case may be, after the Asset
Sale, including, without limitation, pension and other post-employment benefit liabilities,
liabilities related to environmental matters and liabilities under any indemnification obligations
associated with the Asset Sale; and (5) amounts required to be applied to the repayment of
Indebtedness secured by any Lien on the asset or assets sold in the Asset Sale.

     “Non-Recourse Debt” means Indebtedness: (1) as to which neither the Company nor any of its
Restricted Subsidiaries (a) provides credit support of any kind (including any undertaking,
agreement or instrument that would constitute Indebtedness) or is otherwise directly or indirectly

11

 

liable (as a guarantor or otherwise) or (b) constitutes the lender; and (2) no default with respect
to which (including any rights the holders thereof may have to take enforcement action against an
Unrestricted Subsidiary) would permit (upon notice, lapse of time or both) the holders of
Indebtedness of the Company or any of its Restricted Subsidiaries to declare a default on such
Indebtedness or cause the payment thereof to be accelerated or payable prior to its stated
maturity; and (3) that is non-recourse to the stock or assets of the Company or any of its
Restricted Subsidiaries.

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

     “Notes Custodian” means the custodian with respect to a Global Note (as appointed by the
Depositary) or any successor Person, and shall initially be the Registrar.

     “Offering” means the offering of the Notes by the Company pursuant to the Company’s Offering
Memorandum, dated November 29, 2006.

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

     “Officers’ Certificate” means a certificate signed on behalf of the Company by at least two
Officers of the Company, one of whom must be the principal executive officer, the principal
financial officer, the treasurer or the principal accounting officer of the Company, that meets the
requirements of this Indenture, including, without limitation, Sections 12.04 and 12.05 hereof.

     “Opinion of Counsel” means an opinion of legal counsel who is reasonably acceptable to the
Trustee, that meets the requirements of, including, without limitation, Sections 12.04 and 12.05
hereof. The counsel may be an employee of or counsel to the Company, any Subsidiary of the Company
or the Trustee.

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

     “Permitted Business” means the lines of business conducted by the Company and its Restricted
Subsidiaries on the date hereof and any business incidental or reasonably related thereto or which
is a reasonable extension thereof as determined in good faith by the Company’s Board of Directors.

     “Permitted Indebtedness” means any of the following:

     (1) Indebtedness evidenced by the Notes issued on the date of this Indenture and the
incurrence by the Guarantors of the Subsidiary Guarantees of the Notes;

     (2) Indebtedness outstanding on the execution date of this Indenture (other than Indebtedness
referred to in clause (1), (4) or (5) of this definition);

12

 

     (3) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness in
respect of Capital Leases, mortgage financings or purchase money obligations with respect to assets
other than Capital Stock or other Investments, in each case incurred for the purpose of financing
all or any part of the purchase price or cost of construction or improvements of property used in
the business of the Company or such Restricted Subsidiary, in an aggregate principal amount at any
time outstanding not to exceed the greater of (i) $30.0 million and (ii) 3.0% of the Company’s
Consolidated Tangible Assets (determined as of the date of the most recent available quarterly or
annual balance sheet after giving pro forma effect to such incurrence and the application of the
proceeds therefrom and any Asset Sales since such date);

     (4) the incurrence by the Company or any of its Restricted Subsidiaries of additional
Indebtedness and letters of credit under one or more Credit Facilities and guarantees thereof by
its Restricted Subsidiaries; provided, however, that the aggregate principal amount of all
Indebtedness incurred by the Company and its Restricted Subsidiaries pursuant to this clause
(with letters of credit being deemed to have a principal amount equal to the maximum potential
liability of the Company and its Restricted Subsidiaries thereunder) outstanding at any one time
does not exceed the greater of (i) $350 million and (ii) 30.0% of the Company’s Consolidated
Tangible Assets (determined as of the date of the most recent available quarterly or annual balance
sheet after giving pro forma effect to such incurrence and the application of the proceeds
therefrom and any Asset Sales since such date);

     (5) the incurrence by the Company or any of its Restricted Subsidiaries of intercompany
Indebtedness between or among the Company and any of its Restricted Subsidiaries; provided,
however, that:

     (a) if the Company or a Guarantor is the obligor on such intercompany Indebtedness,
such intercompany Indebtedness must be expressly subordinated to the prior payment in full
in cash of all obligations with respect to, in the Company’s case, the Notes, and, in the
case of a Guarantor, the Subsidiary Guarantees; and

     (b) (i) any subsequent issuance or transfer of Equity Interests that results in any
such Indebtedness being held by a Person other than the Company or one of its Restricted
Subsidiaries that is a Guarantor and (ii) any sale or other transfer of any such
Indebtedness to a Person that is not either the Company or one of its Restricted
Subsidiaries that is a Guarantor shall be deemed, in each case, to constitute an incurrence
of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that
was not permitted by this clause;

     (6) Indebtedness under Interest Rate Agreements;

     (7) Permitted Refinancing Indebtedness in exchange for, or the net proceeds of which are used
to extend, refinance, renew, replace, defease or refund, Indebtedness that was permitted by this
Indenture to be incurred (including under clause (2) but other than pursuant to clauses (4), (5),
(9) and (10) of this definition); provided, however, that none of its Restricted Subsidiaries that
is not a Guarantor may repay, refund, renew, replace, extend or refinance, in whole or in part, any
Indebtedness previously incurred by the Company or any of its Restricted Subsidiaries that is a
Guarantor;

13

 

     (8) the incurrence of Acquired Indebtedness if, immediately after incurring such Indebtedness
and after giving pro forma effect thereto, the Company would be permitted to incur at least $1.00
of Indebtedness pursuant to the Section 4.09(a); provided, however, that Acquired Indebtedness
incurred pursuant to this clause (8) shall not exceed an aggregate principal amount of $20.0
million at any time outstanding;

     (9) surety bonds and appeal bonds required in the ordinary course of business or in connection
with the enforcement of rights or claims of the Company or any of its Restricted Subsidiaries or in
connection with judgments that do not result in a Default or Event of Default;

     (10) the incurrence by the Company or any of its Restricted Subsidiaries of additional
Indebtedness in an aggregate principal amount (or accreted value, as applicable) at any time
outstanding, which, when taken together with the principal amount (or accreted value, as
applicable) of all other Indebtedness incurred pursuant to this clause, including all Permitted
Refinancing Indebtedness incurred to repay, refund, renew, replace, extend or refinance any
Indebtedness incurred pursuant to this clause, will not exceed $50.0 million; and

     (11) the Guarantee by any Restricted Subsidiary of Indebtedness of the Company or any
Restricted Subsidiary that was permitted to be incurred under this Indenture.

     “Permitted Investments” means any of the following:

     (1) Investments made or owned by the Company or any Restricted Subsidiary in:

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

     (B) marketable direct obligations issued by any state of the United States or
any political subdivision of any such state or any public instrumentality thereof
maturing within one year from the date of acquisition thereof and having as at such
date a rating of at least “A” from either Standard & Poor’s Ratings Group and its
successors (“S&P”) or Moody’s Investors Service, Inc. and its successors
(“Moody’s”);

     (C) commercial paper maturing no more than 365 days from the date of creation
thereof and having as at the date of acquisition thereof one of the two highest
ratings obtainable from either S&P or Moody’s;

     (D) certificates of deposit maturing one year or less from the date of
acquisition thereof issued by commercial banks incorporated under the laws of the
United States or any state thereof or the District of Columbia or Canada (“Permitted
Banks”);

     (i) the commercial paper or other short term unsecured debt obligations
of which are as at such date rated either “A-2” or better (or

14

 

comparably if
the rating system is changed) by S&P or “Prime-2” or better (or comparably
if the rating system is changed) by Moody’s; or

     (ii) the long-term debt obligations of which are, as at such date,
rated either “A” or better (or comparably if the rating system is changed)
by either S&P or Moody’s;

     (E) eurodollar time deposits having a maturity of less than 270 days from the
date of acquisition thereof purchased directly from any Permitted Bank;

     (F) bankers’ acceptances eligible for rediscount under requirements of the
Board of Governors of the Federal Reserve System and accepted by Permitted Banks;

     (G) obligations of the type described in clauses (A) through (F) above
purchased from a securities dealer designated as a “primary dealer” by the
Federal Reserve Bank of New York or from a Permitted Bank as counterparty to a
written repurchase agreement obligating such counterparty to repurchase such
obligations not later than 14 days after the purchase thereof and which provides
that the obligations which are the subject thereof are held for the benefit of the
Company or a Restricted Subsidiary by a custodian which is a Permitted Bank and
which is not a counterparty to the repurchase agreement in question;

     (H) shares of money market mutual funds substantially all of the assets of
which as at such date are Investments of the kinds described in clauses (A) — (I) of
this definition; and

     (I) auction rate investments having as at such date one of the two highest
ratings obtainable from either S&P or Moody’s;

     (2) investments by the Company or any Restricted Subsidiary in (a) the Company or any
Restricted Subsidiary or (b) any Person that will become immediately after such Investment a
Restricted Subsidiary or that will merge or consolidate into the Company or any Restricted
Subsidiary;

     (3) the making or ownership by the Company or any Restricted Subsidiary of Investments: (i)
arising out of loans and advances to employees incurred in the ordinary course of business; (ii)
arising out of extensions of trade credit or advances to third parties in the ordinary course of
business; and (iii) acquired by reason of the exercise of customary creditors’ rights upon default
or pursuant to the bankruptcy, insolvency or reorganization of a debtor;

     (4) the creation or incurrence of liability by the Company or any Restricted Subsidiary, with
respect to any guaranty constituting an obligation, warranty or indemnity, not guaranteeing
Indebtedness of any Person, which is undertaken or made in the ordinary course of business;

     (5) Investments with respect to any Interest Rate Agreements of the Company or any Restricted
Subsidiary;

15

 

     (7) stock, obligations or securities received in settlement of debts created in the ordinary
course of business and owing to the Company or any Restricted Subsidiary or in satisfaction of
judgments;

     (8) any Person to the extent such Investment represents the non-cash portion of the
consideration received for an Asset Sale that was made pursuant to and in compliance with the
covenant described under Section 4.15 hereof;

     (9) Permitted Joint Venture Investments made by the Company or any of its Restricted
Subsidiaries, in an aggregate amount outstanding at any time that, when taken together with all
other Investments made pursuant to this clause, does not exceed $20.0 million; and

     (10) Investments by the Company or any Restricted Subsidiary in other Investments, in an
aggregate amount outstanding at any time that, when taken together with all other Investments made
pursuant to this clause, does not exceed the greater of (a) $20.0 million or (b) 3.0% of
Consolidated Tangible Assets (determined as of the date of the most recent available quarterly
or annual balance sheet after giving effect to any Asset Sales since such date).

     “Permitted Joint Venture Investment” means, with respect to an Investment by any specified
Person, an Investment by such specified Person in any other Person engaged in a Permitted Business
(a) over which the specified Person is responsible (either directly or through a services
agreement) for day to day operations or otherwise has operational and managerial control of such
other Person, or veto power over significant management decisions affecting such other Person and
(b) of which at least 30% of the outstanding Equity Interests of such other Person is at the time
owned directly or indirectly by the specified Person.

     “Permitted Liens” means any of the following:

     (1) Liens securing Indebtedness under Credit Facilities incurred pursuant to clause (4) of the
definition of “Permitted Indebtedness”;

     (2) Liens in favor of the Company and its Restricted Subsidiaries that are Guarantors;

     (3) Liens on any property, asset or Capital Stock of a Person existing at the time such
Person becomes a Restricted Subsidiary, provided that such Liens were not created or incurred in
connection with, or in contemplation of, such other Person becoming a Restricted Subsidiary and do
not extend to any other property or asset owned by the Company or any of its Restricted
Subsidiaries;

     (4) Liens on any property or asset existing at the time of its acquisition by the Company or
any Restricted Subsidiary, provided that such Liens were not created or incurred in connection
with, or in contemplation of, such acquisition and do not extend to any other property or asset;

     (5) Liens to secure the performance of statutory obligations, surety or appeal bonds, bid or
performance bonds, insurance obligations or other obligations of a like nature incurred by the
Company or a Restricted Subsidiary in the ordinary course of business;

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     (6) Liens securing obligations of the Company or any Restricted Subsidiary under Interest Rate
Agreements;

     (7) Liens existing on date hereof provided that (a) the aggregate principal amount of the
Indebtedness, if any, secured by such liens does not increase, and (b) such liens do not encumber
any property other than the property subject thereto on the date hereof;

     (8) Liens securing Non-Recourse Debt;

     (9) any interest or title of a lessor under an operating lease;

     (10) Liens arising by reason of deposits necessary to obtain standby letters of credit
constituting Indebtedness of the Company or of its Restricted Subsidiaries in the ordinary course
of business;

     (11) Liens on real or personal property or assets of the Company or a Restricted Subsidiary
thereof to secure Indebtedness (including in respect of Capital Leases, other than in respect of
Sale and Leaseback Transactions) incurred for the purpose of (a) financing all or any part of the
purchase price (including by such Capital Leases) of such property or assets incurred prior to, at
the time of, or within 180 days after, the acquisition of such property or assets or (b) financing
all or any part of the cost of construction or improvement of any such property or assets, provided
that the amount of any such financing shall not exceed the amount expended in the acquisition of,
or the construction or improvement of, such property or assets and such Liens shall not extend to
any other property or assets of the Company or a Restricted Subsidiary (other than any associated
accounts, contracts and insurance proceeds);

     (12) Liens securing Permitted Refinancing Indebtedness with respect to any Indebtedness
referred to in clauses (3), (4), (7), (11), (12) and (13); provided that any such Lien is limited
to all or part of the same property or assets (plus improvements, accessions, proceeds or dividends
or distributions in respect thereof) that secured (or, under the written arrangements under which
the original Lien arose, could secure) the Indebtedness being refinanced or is in respect of
property or assets that are the security for a Permitted Lien hereunder;

     (13) Liens securing Indebtedness in respect of Capital Leases in respect of Sale and Leaseback
Transactions permitted by clause (3) of the definition of “Permitted Indebtedness” provided that
such Liens shall not extend to any property or assets other than the property or assets subject to
such Capital Lease (and any associated accounts, contracts and insurance proceeds);

     (14) Liens on assets of non-Guarantor Restricted Subsidiaries;

     (15) Liens not otherwise permitted by clauses (1) through (14) above securing Indebtedness of
the Company or any Restricted Subsidiary not in excess of an aggregate of $15.0 million at any one
time outstanding.

     “Permitted Refinancing Indebtedness” means Indebtedness incurred by the Company or any
Restricted Subsidiary issued in exchange for, or the net proceeds of which are used to, repay,
refund, renew, replace, extend or refinance, in whole or in part, any Indebtedness of the

17

 

Company
or any Restricted Subsidiary (other than intercompany Indebtedness) incurred in compliance with or
permitted by this Indenture, to the extent that: (1) the principal amount of the Permitted
Refinancing Indebtedness does not exceed the principal or accreted amount plus the amount of
accrued and unpaid interest of the Indebtedness so repaid, refunded, renewed, replaced, extended or
refinanced and the amount of a reasonably determined premium and other costs or expenses necessary
to accomplish such refinancing; (2) with respect to the repayment, refunding, renewal, replacement,
extension or refinancing of such Indebtedness, the Permitted Refinancing Indebtedness ranks no more
favorably in right of payment with respect to the Notes or the Subsidiary Guarantees, if
applicable, than the Indebtedness so repaid, refunded, renewed, replaced, extended or refinanced;
(3) with respect to the repayment, refunding, renewal, replacement, extension or refinancing such
Indebtedness, the Permitted Refinancing Indebtedness has a Weighted Average Life to Stated Maturity
and stated maturity equal to, or greater than, and has no fixed mandatory redemption or sinking
fund requirement in an amount greater than or at a time prior to the amounts set forth in, the
Indebtedness so repaid, refunded, renewed, replaced, extended or refinanced; and (4) the obligor of
the Permitted Refinancing
Indebtedness does not include any Person (other than the Company or any Guarantor) that is not
an obligor of the Indebtedness being refinanced.

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

     “preferred stock” means, with respect to any Person, any and all shares, interests,
participations or other equivalents, however designated, whether voting or non-voting, of that
Person’s equity that have a preference as to the payment of dividends or as to payments upon a
liquidation of that Person, whether now outstanding or issued after the date hereof, including
without limitation, all series and classes of such equity.

     “Private Exchange” means an offer to exchange Private Exchange Notes for either Initial Notes
or Additional Notes with a Registration Rights Agreement.

     “Private Exchange Notes” means Exchange Notes issued in exchange for either Initial Notes or
Additional Notes in accordance with a Registration Rights Agreement.

     “Private Placement Legend” means the legend set forth in Section 2.06(g)(1) to be placed on
all Notes issued under this Indenture except where otherwise permitted by the provisions of this
Indenture.

     “Qualified Equity Interests” of any Person means Equity Interests of such Person other than
Disqualified Stock, provided that such Equity Interests shall not be deemed Qualified Equity
Interests to the extent sold to or owned by a Subsidiary of such Person or financed, directly or
indirectly, using funds (1) borrowed from such Person or any Subsidiary of such Person until and to
the extent such borrowing is repaid or (2) contributed, extended, guaranteed or advanced by such
Person or any Subsidiary of such Person (including, without limitation, in respect of any employee
stock ownership or benefit plan). Unless otherwise specified, Qualified Equity Interests refer to
Qualified Equity Interests of the Company.

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

     “Registration Rights Agreement” means the Registration Rights Agreement, dated as of December
6, 2006, by and among the parties named on the signature pages thereof and the Initial Purchasers,
as such agreement may be amended, modified or supplemented from time to time and, with respect to
any Additional Notes, one or more registration rights agreements between the Company and the other
parties thereto, as such agreement(s) may be amended, modified or supplemented from time to time,
relating to rights given by the Company to the purchasers of Additional Notes to register such
Additional Notes under the Securities Act.

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

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

     “Responsible Officer,” when used with respect to the Trustee, means any officer within the
Corporate Trust Department of the Trustee (or any successor group of the Trustee) or any other
officer of the Trustee customarily performing functions similar to those performed by any of the
above designated officers and also means, with respect to a particular corporate trust matter, any
other officer to whom such matter is referred because of his or her knowledge of and familiarity
with the particular subject.

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

     “Restricted Global Note” means a permanent Global Note in substantially the form of Exhibit A
attached hereto that bears the Global Note Legend and that has the “Schedule of Exchanges of
Interests in the Global Note” attached thereto, and that is deposited with or on behalf of and
registered in the name of the Depositary or a nominee of the Depositary, representing a series of
Notes that bear the Private Placement Legend.

     “Restricted Investment” means an Investment other than a Permitted Investment.

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

     “Restricted Subsidiary” means a Subsidiary, which, as of the date of determination, is not an
Unrestricted Subsidiary. Unless the content otherwise requires, references to a “Restricted
Subsidiary” refer to a Restricted Subsidiary of the Company.

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

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

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

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

     “S&P” means Standard & Poor’s Ratings Group, Inc., or any successor to the rating agency
business thereof.

     “Sale and Leaseback Transaction” of any Person means an arrangement (other than between the
Company and a Wholly Owned Restricted Subsidiary or between Wholly Owned Restricted Subsidiaries)
with any lender or investor or to which such lender or investor is a party providing for the
leasing by such Person of any property or asset of such Person which has been or is being sold or
transferred by such Person more than 365 days after the acquisition thereof or the completion of
construction or commencement of operation thereof to such lender or investor or to any Person to
whom funds have been or are to be advanced by such lender or investor on the security of such
property or asset, pursuant to a lease that provides for rental payments calculated to amortize the
purchase price of the property or asset over its life. The stated maturity of such arrangement is
the date of the last payment of rent or any other amount due under such arrangement prior to the
first date on which such arrangement may be terminated by the lessee without payment of a penalty.

     “SEC” means the Securities and Exchange Commission.

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

     “Shelf Registration Statement” means the Shelf Registration Statement as defined in the
Registration Rights Agreement.

     “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as
defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as
such Regulation is in effect on the date hereof.

     “Subsidiary” means, with respect to any specified Person: (1) any corporation, association or
other business entity of which more than 50% of the total voting 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 of the corporation, association or other business entity is at the
time owned or controlled, directly or indirectly, by that Person or one or more of the other
Subsidiaries of that Person (or a combination thereof); and (2) any partnership the sole general
partner or the managing general partner of which is such Person or a Subsidiary of such Person or
the only general partners of which are that Person or one or more Subsidiaries of that Person (or
any combination thereof).

     “Subsidiary Guarantee” means the guarantee of the Notes by each of the Guarantors pursuant to
this Indenture and any additional guarantee of the Notes to be executed by any of the Company’s
Subsidiaries pursuant to the covenant described above under Section 4.12.

     “TIA” means the Trust Indenture Act of 1939, as amended.

     “Treasury Rate” means, with respect to any redemption date in respect of the Notes, the yield
to maturity of United States Treasury securities with a constant maturity (as compiled and
published in the most recent Federal Reserve Statistical Release H.15(519) that has become

20

 

publicly
available on the second business day prior to the redemption date (or, if such Statistical Release
is no longer published, any publicly available source of similar market data)) most nearly equal to
the period from the redemption date to December 15, 2011; provided, however, that if the period
from the redemption date to December 15, 2011 is less than one year, the weekly average yield on
actually traded United States Treasury securities adjusted to a constant maturity of one year shall
be used.

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

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

     “Unrestricted Subsidiary” means any Subsidiary of the Company that is designated by the
Company’s Board of Directors as an Unrestricted Subsidiary of the Company pursuant to a Board
Resolution and any Subsidiary of an Unrestricted Subsidiary, but only to the extent that
each of such Subsidiary and its Subsidiaries at the time of such designation and at all times
thereafter:

     (1) has no Indebtedness other than Non-Recourse Debt;

     (2) is not party to any agreement, contract, arrangement or understanding with the Company or
any Restricted Subsidiary unless such agreement, contract, arrangement or understanding does not
violate the terms of Section 4.10 hereof;

     (3) is a Person with respect to which neither the Company nor any of its Restricted
Subsidiaries has any direct or indirect obligation (a) to subscribe for additional Equity Interests
or (b) to maintain or preserve such Person’s financial condition or to cause such Person to achieve
any specified levels of operating results, in each case, except to the extent otherwise permitted
by this Indenture;

     (4) such Subsidiary, either alone or in the aggregate with all other Unrestricted
Subsidiaries, does not operate, directly or indirectly, all or substantially all of the business of
the Company and its Subsidiaries; and

     (5) such designation and the Investment of the Company and its Restricted Subsidiaries in such
Subsidiary complies with Section 4.07.

     Any such designation by the Board of Directors of the Company shall be evidenced to the
Trustee by filing with the Trustee a Board Resolution giving effect to such designation and an
Officers’ Certificate certifying that such designation complied with the foregoing conditions and
was permitted by Section 4.07. If, at any time, any Unrestricted Subsidiary would fail to meet the
foregoing requirements as an Unrestricted Subsidiary, it shall thereafter cease to be an
Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary
shall be deemed to be incurred by a Restricted Subsidiary as of such date (and, if such

21

 

Indebtedness is not permitted to be incurred as of such date under the Section 4.09, the Company
shall be in default of such covenant). The Board of Directors of the Company may at any time
designate any Unrestricted Subsidiary to be a Restricted Subsidiary, provided that such designation
shall be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of any outstanding
Indebtedness of such Unrestricted Subsidiary and such designation shall only be permitted if:

     (a) such Indebtedness is permitted under Section 4.09 calculated on a pro forma basis as if
such designation had occurred at the beginning of the four-quarter reference period; and

     (b) no Default or Event of Default would be in existence following such designation.

     Notwithstanding the foregoing, no Subsidiary may be designated an Unrestricted Subsidiary if
the Subsidiary at the time of such designation or at any time thereafter, directly or indirectly,
holds Capital Stock or Indebtedness of, or owns or holds any Lien on any asset of, the Company or
any Restricted Subsidiary.

     “U.S. Person” means any U.S. Person defined for purposes of Regulation S.

     “Weighted Average Life to Stated Maturity” means, when applied to any Indebtedness at any
date, the number of years obtained by dividing:

(i) the sum of the products obtained by multiplying the amount of each then remaining
installment, sinking fund, serial maturity or other required payments of principal,
including payment at final maturity, in respect thereof, by the number of years, calculated
to the nearest one-twelfth, that will elapse between the date and the making of the payment,

(ii) by the then outstanding principal amount of the Indebtedness.

     “Wholly Owned Restricted Subsidiary” means any Restricted Subsidiary of which 100% of the
outstanding Capital Stock is owned by the Company or by one or more Wholly Owned Restricted
Subsidiaries. For purposes of this definition, any directors’ qualifying shares or investments by
foreign nationals mandated by applicable law shall be disregarded in determining the ownership of a
Subsidiary.

Section 1.02. Other Definitions.

	 	 	 
	Term	 	Defined in Section
	“Affiliate Transaction”

	 	Section 4.10
	“Asset Sale Offer”

	 	Section 4.15
	“Authenticating Agent”

	 	Section 2.02
	“Authentication Order

	 	Section 2.02
	“Benefited Party”

	 	Section 8.01
	“Change of Control Offer”

	 	Section 4.16
	“Change of Control Payment”

	 	Section 4.16
	“Change of Control Payment Date”

	 	Section 4.16
	“Company”

	 	Preamble

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	Term	 	Defined in Section
	“Covenant Defeasance”

	 	Section 9.03
	“Event of Default”

	 	Section 6.01
	“Excess Proceeds”

	 	Section 4.15
	“Holders”

	 	Preamble
	“Indenture”

	 	Preamble
	“Interest Payment Date”

	 	Paragraph 1 of Note
	“Legal Defeasance”

	 	Section 9.02
	“Payment Default”

	 	Section 6.01
	“Qualified Equity Offering”

	 	Section 3.07
	“Registrar”

	 	Section 2.03
	“Reinstatement Date”

	 	Section 4.20
	“Trustee”

	 	Preamble

Section 1.03. Incorporation by Reference of Trust Indenture Act.

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

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

     “indenture securities” means the Notes;

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

     “indenture to be qualified” means this Indenture;

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

     “obligor” on the Notes means the Company, any Guarantor and any successor obligor upon the
Notes.

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

Section 1.04. Rules of Construction.

     Unless the context otherwise requires:

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

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

     (c) “or” is not exclusive;

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

23

 

     (e) “including” means “including without limitation”; provisions apply to successive events
and transactions;

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

     (g) References in this Indenture to “Article” and “Section” shall be to the Articles and
Sections of this Indenture unless expressly indicated otherwise.

ARTICLE 2.

THE NOTES

Section 2.01. Form and Dating

     (a) General. The Notes and the Trustee’s certificate of authentication shall be substantially
in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by
law, stock exchange rule or usage. Each Note shall be dated the date of its authentication. The
Notes shall be in denominations of $2,000 and integral multiples of $1,000. The terms and
provisions contained in the Notes shall constitute, and are hereby
expressly made, a part of this Indenture and the Company, the Guarantors and the Trustee, by
their execution and delivery of this Indenture, expressly agree to such terms and provisions and to
be bound thereby. However, to the extent any provision of any Notes or any Guarantee conflicts with
the express provisions of this Indenture, the provisions of this Indenture (to the extent permitted
by law) shall govern and be controlling.

     (b) Global Notes. Notes issued in global form shall be substantially in the form of Exhibit A
attached hereto (including the Global Note Legend thereon and the “Schedule of Exchanges of
Interests in the Global Note” attached thereto). Notes issued in definitive form shall be
substantially in the form of Exhibit A attached hereto (but without the Global Note Legend thereon
and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each
Global Note shall represent such of the outstanding Notes as shall be specified therein, and each
shall provide that it shall represent the aggregate principal amount of outstanding Notes from time
to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented
thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and
redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in
the aggregate principal amount of outstanding Notes represented thereby shall be made by the
Trustee or the Notes Custodian, at the direction of the Trustee, in accordance with Section 2.06
hereof. Notwithstanding anything to the contrary in this Indenture, all Global Notes shall be
governed by the Applicable Procedures.

     (c) Regulation S Global Notes. Any Notes offered and sold in reliance on Regulation S shall be
issued initially in the form of a Regulation S Global Note, which shall be deposited on behalf of
the purchasers of the Notes represented thereby with the Notes Custodian, and registered in the
name of the Depositary or the nominee of the Depositary for the accounts of designated agents
holding on behalf of Euroclear or Clearstream, duly executed by the Company

24

 

and authenticated by
the Trustee as hereinafter provided. Prior to the expiration of the Restricted Period, any resale
or transfer of beneficial interests in a Regulation S Global Note to U.S. Persons shall not be
permitted unless such resale or transfer is made pursuant to Rule 144A, to an Institutional
Accredited Investor in accordance with Section 2.06 hereof, Regulation S, pursuant to an exemption
from registration provided by Rule 144 under the Securities Act (if available) or pursuant to an
effective registration statement under the Securities Act, in each case in accordance with any
applicable securities laws of any state of the United States.

     (d) 144A Global Notes. Any Notes offered and sold in reliance on Rule 144A shall be issued
initially in the form of a 144A Global Note, which shall be deposited on behalf of the purchasers
of the Notes represented thereby with the Notes Custodian, and registered in the name of the
Depositary or the nominee of the Depositary, duly executed by the Company and authenticated by the
Trustee as hereinafter provided.

     (e) Definitive Notes. Notwithstanding any other provision of this Article II, any issuance of
Definitive Notes shall be at the Company’s discretion, except in the circumstances set forth in
Section 2.06(a) hereof.

Section 2.02. Execution and Authentication

     An Officer shall sign the Notes for the Company by manual or facsimile signature.

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

     A Note shall not be valid until an authorized signatory of the Trustee manually authenticates
the Note. The signature of the Trustee on a Note shall be conclusive evidence that such Note has
been duly and validly authenticated and issued under this Indenture.

     The Trustee shall authenticate and deliver: (i) Initial Notes for original issue in an
aggregate principal amount of $650,000,000, (ii) if and when issued, Additional Notes (which may be
issued in either a registered or a private offering under the Securities Act) and (iii) Exchange
Notes for issue only in an exchange offer pursuant to a Registration Rights Agreement, and only in
exchange for Initial Notes or Additional Notes of an equal principal amount, in each case upon a
written order of the Company signed by one Officer of the Company (an “Authentication Order”). The
Company may issue Additional Notes under this Indenture subsequent to the Issue Date, subject to
Section 4.09 of this Indenture.

     The Trustee may appoint an agent (the “Authenticating Agent”) reasonably acceptable to the
Company to authenticate the Notes. Unless limited by the terms of such appointment, any such
Authenticating Agent may authenticate Notes whenever the Trustee may do so. Each reference in this
Indenture to authentication by the Trustee includes authentication by such agent.

Section 2.03. Registrar and Paying Agent

     The Company shall at all times maintain in the continental United States an office or agency
where Notes may be presented for registration of transfer or for exchange (the “Registrar”), and it
shall likewise maintain in the continental United States an office or agency

25

 

where Notes may be
presented for payment (the “Paying Agent”). The Registrar shall keep a register of the Notes and of
their transfer and exchange. The Company may have one or more co-registrars and one or more
additional paying agents. The term “Registrar” includes any co-registrar, and the term “Paying
Agent” includes any such additional paying agent.

     The Company or any of its Subsidiaries may act as Paying Agent. Any Paying Agent or Registrar
may resign as such upon 30 days’ prior written notice to the Company and the Trustee; upon
resignation of any Paying Agent or Registrar, the Company shall appoint a successor Paying Agent or
Registrar, as the case may be, complying with the requirements of this Section 2.03, no later than
30 days thereafter and shall provide notice to the Trustee of such successor Paying Agent or
Registrar.

     The Company initially appoints the Trustee as Registrar and Paying Agent for the Notes.

     The immunities, protections and exculpations available to the Trustee under this Indenture
shall also be available to each Agent, and the Company’s obligations under Section 7.07 to
compensate and indemnify the Trustee shall extend likewise to each Agent.

Section 2.04. Paying Agent to Hold Money in Trust

     By 11:00 a.m. (New York City time) on the date on which any principal, premium, if any, or
interest on any Note is due and payable, the Company shall deposit with the Paying Agent a sum
sufficient to pay such principal, premium, if any, and interest when due. The
Company shall require each Paying Agent (other than the Trustee) to agree in writing that such
Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by such
Paying Agent for the payment of principal, premium, if any, and interest (if any) on the Notes and
shall notify the Trustee of any default by the Company in making any such payment. If the Company
or a Subsidiary acts as Paying Agent, it shall segregate the money held by it as Paying Agent and
hold it as a separate trust fund. The Company at any time may require a Paying Agent (other than
the Trustee) to pay all money held by it to the Trustee and to account for any funds disbursed by
such Paying Agent. Upon complying with this Section 2.04, the Paying Agent (if other than the
Company or a Subsidiary) shall have no further liability for the money delivered to the Trustee.

Section 2.05. Holder Lists

     The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of Holders and shall otherwise comply with TIA §
312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee, in writing
at least seven Business Days or such shorter time as the Trustee may allow before each Interest
Payment Date and at such other times as the Trustee may request in writing, a list in such form and
as of such date as the Trustee may reasonably require of the names and addresses of the Holders of
Notes, including the aggregate principal amount of Notes held by each Holder.

Section 2.06. Transfer and Exchange

     (a) Transfer and Exchange of Global Notes. A Global Note may not be transferred as a whole
except by the Depositary to a nominee of the

26

 

Depositary, by a nominee of the Depositary to the
Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a
successor Depositary or a nominee of such successor Depositary. Owners of beneficial interests in
Global Notes shall not be entitled to receive Definitive Notes unless:

     (1) the Company delivers to the Trustee and the Registrar notice from the Depositary
that it is unwilling or unable to continue to act as Depositary or that it is no longer a
clearing agency registered under the Exchange Act and, in either case, a successor
Depositary is not appointed by the Company within 90 days; or

     (2) there has occurred and is continuing an Event of Default and DTC notifies the
Trustee and the Registrar of its decision to exchange the Global Notes for Definitive Notes.

Upon the occurrence of either of the preceding events in (1) or (2) above, Definitive Notes shall
be issued in such names as the Depositary shall instruct the Trustee and the Registrar. Global
Notes also may be exchanged or replaced, in whole or in part, as provided in Section 2.07 hereof.
Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion
thereof, pursuant to this Section 2.06 or Section 2.07 hereof, shall be authenticated and delivered
in the form of, and shall be, a Global Note. A Global Note may not be exchanged for another Note
other than as provided in this Section 2.06(a); however, beneficial interests in a Global Note may
be transferred and exchanged as provided in Section 2.06(b) or (f) hereof.

     (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and
exchange of beneficial interests in the Global Notes shall be effected through the Depositary,
in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial
interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable to
those set forth herein, including those set forth in the Private Placement Legend, to the extent
required by the Securities Act. Transfers of beneficial interests in the Global Notes also shall
require compliance with either subparagraph (1) or (2) below, as applicable, as well as one or more
of the other following subparagraphs, as applicable:

	 	(1)	 	Transfer of Beneficial Interests in the Same Global Note. Beneficial interests
in any Restricted Global Note may be transferred to Persons who take delivery thereof
in the form of a beneficial interest in the same Restricted Global Note in accordance
with the transfer restrictions set forth in the Private Placement Legend; provided,
however, that prior to the expiration of the Restricted Period, transfers of beneficial
interests in the Regulation S Global Note may not be made to a U.S. Person or for the
account or benefit of a U.S. Person (other than an Initial Purchaser). Beneficial
interests in any Unrestricted Global Note may be transferred to Persons who take
delivery thereof in the form of a beneficial interest in an Unrestricted Global Note.
No written orders or instructions shall be required to be delivered to the Registrar to
effect the transfers described in this Section 2.06(b)(1).
	 
	 	(2)	 	All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In
connection with all transfers and exchanges of beneficial interests that are not

27

 

	 	 	 	subject to Section 2.06(b)(1) above, the transferor of such beneficial interest must
deliver to the Registrar:

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

	 	 	 	Upon consummation of a Registered Exchange Offer by the Company in accordance with
Section 2.06(f) hereof, the requirements of this Section 2.06(b)(2) shall be deemed
to have been satisfied upon receipt by the Registrar of the instructions contained
in the Letter of Transmittal delivered by the Holder of such beneficial interests in
the Restricted Global Notes. Upon satisfaction of all of the requirements for
transfer or exchange of beneficial interests in Global Notes contained in this
Indenture, the Notes or otherwise applicable under the Securities Act, the principal
amount of the relevant Global Note(s) shall be adjusted pursuant to Section 2.06(h)
hereof.
	 
	 	(3)	 	Transfer of Beneficial Interests to Another Restricted Global Note. A
beneficial interest in any Restricted Global Note may be transferred to a Person who
takes delivery thereof in the form of a beneficial interest in another Restricted
Global
Note if the transfer complies with the requirements of Section 2.06(b)(2) above and
the Registrar receives the following:

	 	(A)	 	if the transferee will take delivery in the form of a
beneficial interest in the 144A Global Note, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the certifications in
item (1) thereof; and
	 
	 	(B)	 	if the transferee will take delivery in the form of a
beneficial interest in the Regulation S Global Note, then the transferor must
deliver a certificate in the form of Exhibit B hereto, including the
certifications in item (2) thereof.

	 	(4)	 	Transfer and Exchange of Beneficial Interests in a Restricted Global Note for
Beneficial Interests in the Unrestricted Global Note. A beneficial interest in any
Restricted Global Note may be exchanged by any holder thereof for a beneficial interest
in an Unrestricted Global Note or transferred to a Person who takes delivery thereof in
the form of a beneficial interest in an Unrestricted Global Note if the exchange or
transfer complies with the requirements of Section 2.06(b)(2) above and:

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	 	(A)	 	such exchange or transfer is effected pursuant to a Registered
Exchange Offer in accordance with the applicable Registration Rights Agreement
and the holder of the beneficial interest to be transferred, in the case of an
exchange, or the transferee, in the case of a transfer, certifies in the
applicable Letter of Transmittal (or via the Depositary’s book-entry system)
that it is not (i) a broker-dealer, (ii) a Person participating in the
distribution of the Exchange Notes or (iii) a Person who is an affiliate (as
defined in Rule 144) of the Company;
	 
	 	(B)	 	such transfer is effected pursuant to a Shelf Registration
Statement in accordance with the applicable Registration Rights Agreement;
	 
	 	(C)	 	such transfer is effected by an Exchanging Dealer pursuant to
an Exchange Offer Registration Statement in accordance with the applicable
Registration Rights Agreement; or
	 
	 	(D)	 	the Registrar receives the following:

	 	(i)	 	if the holder of such beneficial interest in a
Restricted Global Note proposes to exchange such beneficial interest
for a beneficial interest in an Unrestricted Global Note, a certificate
from such holder in the form of Exhibit C hereto, including the
certifications in item (1)(a) thereof; or
	 
	 	(ii)	 	if the holder of such beneficial interest in a
Restricted Global Note proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of a beneficial
interest in an Unrestricted Global Note, a certificate from such holder
in the form of Exhibit B hereto, including the certifications in item (4)
thereof;

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

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

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

     (c) Transfer or Exchange of Beneficial Interests for Definitive Notes. Beneficial interests
in Global Notes may be exchanged or transferred for Definitive Notes only as provided in Section
2.6(a) hereof.

     (d) Transfer and Exchange of Definitive Notes for Beneficial Interests. If issued, Definitive
Notes may not be exchanged or transferred for beneficial interests in Global Notes, unless
otherwise allowed by the Company in its discretion and, in such a case, subject to such procedures
as it and the Trustee may establish and to any Applicable Procedures.

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

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

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

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

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

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

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

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the applicable
Letter of Transmittal (or via the Depositary’s book-entry system) that it is not (1) a
broker-dealer, (2) a Person participating in the distribution of the Exchange Notes or (3) a
Person who is an affiliate (as defined in Rule 144) of the Company;

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

          (C) any such transfer is effected by an Exchanging Dealer pursuant to an Exchange Offer
Registration Statement in accordance with the applicable Registration Rights Agreement; or

          (D) the Registrar receives the following:

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

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

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

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

     (f) (1) Registered Exchange Offer. Upon the occurrence of a Registered Exchange Offer in
accordance with the applicable Registration Rights Agreement, the Company shall issue and, upon
receipt of a written order in accordance with Section 2.02, the Trustee shall authenticate:

          (A) one or more Unrestricted Global Notes in an aggregate principal amount equal to the
principal amount of the beneficial interests in the Restricted Global Notes tendered for
acceptance by Persons that certify in the applicable Letters of Transmittal (or via the
Depositary’s book-entry system), among other things, that (I) they are not broker-dealers,
(II) they are not participating in a distribution of the Exchange Notes and (III) they are
not affiliates (as defined in Rule 144) of the Company, and accepted for exchange in the
Registered Exchange Offer; and

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          (B) Unrestricted Definitive Notes in an aggregate principal amount equal to the
principal amount of any Restricted Definitive Notes accepted for exchange in the Registered
Exchange Offer.

     Concurrently with the issuance of such Notes, the Registrar shall cause the aggregate
principal amount of the applicable Restricted Global Notes to be reduced accordingly, and the
Company shall execute and the Trustee shall authenticate, and deliver to the Persons designated by
the Holders of any Definitive Notes so accepted, Unrestricted Definitive Notes in the appropriate
principal amount.

          (2) If upon consummation of a Registered Exchange Offer, any Initial Purchaser holds Initial
Notes acquired by it as part of the initial distribution thereof, the Company, upon written request
of such Initial Purchaser, simultaneously with the delivery of the Exchange Notes pursuant to the
Registered Exchange Offer, shall issue and deliver to such Initial Purchaser and, upon receipt of a
written order in accordance with Section 2.02 hereof, the Trustee shall authenticate, one or more
Restricted Definitive Notes representing Private Exchange Notes in a Private Exchange for the
Initial Notes held by such Initial Purchaser, in an aggregate principal amount equal to the Initial
Notes so exchanged by such Initial Purchaser in the Private Exchange.

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

          (1) Private Placement Legend.

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

“THIS NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A
TRANSACTION EXEMPT FROM
REGISTRATION UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE
“SECURITIES ACT”), AND THIS NOTE MAY NOT BE OFFERED, SOLD OR
OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN
APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THIS NOTE IS
HEREBY NOTIFIED THAT THE SELLER OF THIS NOTE MAY BE RELYING ON THE
EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT
PROVIDED BY RULE 144A THEREUNDER.

THE HOLDER OF THIS NOTE AGREES FOR THE BENEFIT OF THE COMPANY THAT
(A) THIS NOTE MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE

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TRANSFERRED, ONLY (I) IN THE UNITED STATES TO (1) A PERSON WHOM THE
SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS
DEFINED IN RULE l44A UNDER THE SECURITIES ACT) IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A OR (2) AN INSTITUTIONAL
ACCREDITED INVESTOR THAT, PRIOR TO SUCH TRANSFER, FURNISHES THE
TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND
AGREEMENTS RELATING TO THE TRANSFER OF THIS NOTE (THE FORM OF WHICH
CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN
RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN
$250,000, AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY THAT SUCH
TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, (II) OUTSIDE THE
UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904
UNDER THE SECURITIES ACT, (III) PURSUANT TO AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144
THEREUNDER (IF AVAILABLE) OR (IV) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES
(I) THROUGH (IV) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS
OF ANY STATE OF THE UNITED STATES, AND (B) THE HOLDER WILL, AND EACH
SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS NOTE
FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE.

[Regulation S Legend]

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

          (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant
to subparagraphs (b)(4), (e)(2), (e)(3) or (f) of this Section 2.06 (and all

33

 

Notes issued in
exchange therefor or substitution thereof) shall not bear the Private Placement Legend.

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

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE
INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE
BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO
ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE REGISTRAR MAY
MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION
2.06 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN
WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE
AND (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 2.10 OF THE INDENTURE.

THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY
TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO
THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A
NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”) TO THE COMPANY
OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
SUCH
OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS
MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE
& CO., HAS AN INTEREST HEREIN.”

     (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests
in a particular Global Note have been exchanged for Definitive Notes or a particular

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Global Note
has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be
returned to or retained and canceled by the Trustee in accordance with Section 2.10 hereof. At any
time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or
transferred to a Person who will take delivery thereof in the form of a beneficial interest in
another Global Note or for Definitive Notes, the principal amount of Notes represented by such
Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by
the Trustee or by the Notes Custodian at the direction of the Trustee to reflect such reduction;
and if the beneficial interest is being exchanged for or transferred to a Person who will take
delivery thereof in the form of a beneficial interest in another Global Note, such other Global
Note shall be increased accordingly and an endorsement shall be made on such Global Note by the
Trustee or by the Notes Custodian at the direction of the Trustee to reflect such increase.

     (i) General Provisions Relating to Transfers and Exchanges.

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

          (2) No service charge shall be made to a holder of a beneficial interest in a Global Note or
to a Holder of a Definitive Note for any registration of transfer or exchange, but the Company may
require payment of a sum sufficient to cover any transfer tax or similar governmental charge or
other fee required by law and payable in connection therewith (other than any such transfer taxes
or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.09, 3.06,
3.07, 4.15 and 4.16 hereof).

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

          (4) None of the Company, the Trustee or the Registrar shall be required (A) to issue, to
register the transfer of or to exchange any Notes during a period of 15 days before the day of any
selection of Notes for redemption under Section 3.02 hereof and ending at the close of business on
the day of selection, (B) to register the transfer of or to exchange any Notes so selected for
redemption in whole or in part, except the unredeemed portion of any Note being
redeemed in part or (C) to register the transfer of or to exchange a Note between a record
date and the next succeeding Interest Payment Date.

          (5) Prior to the due presentation for registration of transfer of any Note, the Company, each
Guarantor, the Trustee, the Paying Agent or the Registrar may deem and treat the Person in whose
name a Note is registered as the absolute owner of such Note for the purpose of receiving payment
of principal, interest and premium (if any) on such Note and for all other purposes whatsoever,
whether or not such Note is overdue, and none of the Company, the Trustee, the Paying Agent or the
Registrar shall be affected by notice to the contrary.

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

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

Section 2.07. Replacement Notes

     If any mutilated Note is surrendered to the Registrar or the Company and the Registrar receive
evidence to their satisfaction of the destruction, loss or theft of any Note, the Company will
issue and the Trustee, upon receipt of a written order of the Company conforming to Section 2.02
hereof, will authenticate a replacement Note if the Registrar’s and the Company’s reasonable
requirements are met. If required by the Registrar or the Company, an indemnity bond must be
supplied by the Holder that is sufficient in the judgment of the Registrar, the Trustee and the
Company to protect the Company, the Trustee, the Registrar, any other Agent and any Authenticating
Agent from any loss that any of them may suffer if a Note is replaced.

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

Section 2.08. Outstanding Notes

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

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

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

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

Section 2.09. Temporary Notes

     Until Definitive Notes are ready for delivery, the Company may prepare and the Trustee shall
authenticate temporary Notes. Temporary Notes shall be substantially in the form of Definitive
Notes but may have variations that the Company considers appropriate for temporary Notes. Without
unreasonable delay, the Company shall prepare and the Trustee shall authenticate

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Definitive Notes
in exchange for temporary Notes. Holders of temporary Notes shall in all respects be entitled to
the same benefits under this Indenture as a holder of Definitive Notes.

Section 2.10. Cancellation

     The Company at any time may deliver Notes to the Trustee or any Registrar for cancellation.
The Registrar and the Paying Agent shall forward to the Trustee any Notes surrendered to them for
registration of transfer, exchange or payment. The Trustee or the Registrar and no one else shall
cancel and destroy (subject to the record retention requirements of the Exchange Act) all Notes
surrendered for registration of transfer, exchange, payment, replacement or cancellation and
deliver a certificate of such destruction to the Company unless the Company directs the Trustee and
the Registrar to deliver canceled Notes to the Company. The Company may not issue new Notes to
replace Notes it has redeemed, paid or delivered to the Trustee or the Registrar for cancellation.

Section 2.11. Defaulted Interest

     If the Company defaults in a payment of interest (“Defaulted Interest”) on the Notes, the
Company shall pay Defaulted Interest (as provided in Section 4.01) in any lawful manner. The
Company may pay the Defaulted Interest to the Persons who are Holders on a subsequent special
record date. The Company shall fix or cause to be fixed (or upon the Company’s failure to do so the
Trustee shall fix pursuant to a written instruction of Holders of at least a majority in principal
amount of the Notes) any such special record date and payment date to the reasonable satisfaction
of the Trustee which special record date shall not be less than 10 days prior to the payment date
for such Defaulted Interest and the Company, or at the Company’s request, the Trustee, shall
promptly mail or cause to be mailed to each Holder a notice that states the special record date,
the payment date and the amount of Defaulted Interest to be paid. The Company shall notify the
Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Note and the
date of the proposed payment, and at the same time the Company shall deposit with the Trustee an
amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted
Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date
of the proposed payment, such money when so deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as provided in this Section 2.11.

Section 2.12. CUSIP Numbers

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

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ARTICLE
3.

REDEMPTION AND PREPAYMENT

Section 3.01. Notices to Trustee.

     If the Company elects to redeem Notes pursuant to the optional redemption provisions of
Section 3.07 hereof, it shall furnish to the Trustee, at least 45 days (unless a shorter period
shall be agreed to by the Trustee) but not more than 75 days before a redemption date (but in any
event prior to the notice provided pursuant to Section 3.03 hereof), an Officers’ Certificate
setting forth (i) the clause of this Indenture pursuant to which the redemption shall occur, (ii)
the redemption date, (iii) the principal amount of Notes to be redeemed and (iv) the redemption
price.

Section 3.02. Selection of Notes to Be Redeemed.

     If less than all of the Notes are to be redeemed or purchased at any time, the Trustee shall
select the Notes to be redeemed or purchased among the Holders of the Notes, on a pro rata basis,
by lot or in accordance with any other method the Trustee considers fair and appropriate; provided,
however, that the Trustee’s selection must be in a manner that complies with any legal and stock
exchange requirements. Any such determination by the Trustee shall be conclusive.

     The Trustee shall promptly notify the Company in writing of the Notes selected for redemption
and, in the case of any Note selected for partial redemption, the principal amount thereof to be
redeemed. Notes and portions of Notes selected shall be in amounts of $2,000 or integral multiples
of $1,000; except that if all of the Notes of a Holder are to be redeemed, the entire outstanding
amount of Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed. Except as
provided in the preceding sentence, provisions of this Indenture that apply to Notes called for
redemption also apply to portions of Notes called for redemption.

Section 3.03. Notice of Redemption.

     Subject to the provisions of Section 3.07 hereof, at least 30 days but not more than 60 days
before an optional redemption date, the Company shall deliver or mail or cause to be mailed, by
first class mail, a notice of redemption to each Holder whose Notes are to be redeemed at its
registered address.

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

     (a) the redemption date;

     (b) the redemption price;

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

38

 

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

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

     (f) that, unless the Company defaults in making such redemption payment, interest on Notes
called for redemption ceases to accrue on and after the redemption date;

     (g) the paragraph of the Notes or Section of this Indenture pursuant to which the Notes called
for redemption are being redeemed; and

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

     At the Company’s request, the Trustee shall give the notice of redemption in the Company’s
name and at its expense; provided, however, that the Company shall have delivered to the Trustee at
least 45 days (unless a shorter period shall be agreed to by the Trustee) but not more than 60 days
prior to the redemption date, an Officers’ Certificate requesting that the Trustee give such notice
and setting forth the information to be stated in such notice as provided in the preceding
paragraph.

Section 3.04. Effect of Notice of Redemption.

     Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for
redemption shall become irrevocably due and payable on the redemption date at the redemption price.
A notice of redemption may not be conditioned upon events specified in the notice.

     A notice of redemption shall be deemed to be given when mailed, whether or not the Holder
receives the notice. In any event, failure to give such notice, or any defect in such notice, shall
not affect the validity of the proceedings for the redemption of the Notes held by Holders to whom
such notice was properly given.

Section 3.05. Deposit of Redemption Price.

     On or prior to the redemption date, the Company shall deposit with the Trustee or with the
Paying Agent money sufficient to pay the redemption price of and accrued interest on all Notes to
be redeemed on that date. The Trustee or the Paying Agent shall promptly return to the Company any
money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts
necessary to pay the redemption price of, and accrued interest on, all Notes to be redeemed.

     If the Company complies with the provisions of the preceding paragraph, on and after the
redemption date, interest shall cease to accrue on the Notes or the portions of Notes called for
redemption. If a Note is redeemed on or after an interest record date but on or prior to the
related interest payment date, then any accrued and unpaid interest shall be paid to the Person in
whose name such Note was registered at the close of business on such record date. If any Note
called for redemption shall not be so paid upon surrender for redemption because of the failure of
the

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Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal
from the redemption date until such principal is paid, and to the extent lawful on any interest not
paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01
hereof.

Section 3.06. Notes Redeemed in Part.

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

Section 3.07. Optional Redemption.

     (a) On and after December 15, 2011, the Company may, at its option, redeem the Notes, in whole
or in part, upon not less than 30 nor more than 60 days’ notice, at the redemption prices set forth
in paragraph 5 of the Note attached hereto.

     (b) From time to time on or prior to December 15, 2009, the Company may, at its option, use
the net cash proceeds of one or more Qualified Equity Offerings (as defined below) to redeem the
Notes at 108.000% of their principal amount plus accrued and unpaid interest to the applicable
redemption date; provided, however, that the redemption is completed within 90 days of the
completion of the Qualified Equity Offering and at least 65% of the principal amount of the Notes
originally issued under this Indenture are outstanding immediately following the redemption.
“Qualified Equity Offering” means any issuance and sale of the Company’s Qualified Equity
Interests.

     (c) At any time prior to December 15, 2011, the Company may, at its option, redeem the Notes
in whole or in part, at a redemption price equal to 100% of the principal amount thereof plus the
Applicable Premium as of, and accrued and unpaid interest to, the date of redemption.

     (d) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of
Sections 3.01 through 3.06 hereof.

Section 3.08. Procedures for Asset Sale Offers.

     (a) Upon the commencement of an Asset Sale Offer, the Company will mail or deliver a notice to
the Trustee and each of the Holders that contains all instructions and materials necessary to
enable such Holders to tender Notes pursuant to the Asset Sale Offer. The notice, which shall
govern the terms of the Asset Sale Offer, shall state:

     (i) that the Asset Sale Offer is being made pursuant to Section 4.15 of this Indenture;

     (ii) the amount of the Asset Sale Offer, the purchase price and the date of purchase of
the Notes (which shall be a date not earlier than 30 days nor later than 60 days from the
date of such notice);

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

     (iv) that, unless the Company defaults in making such payments, any Note accepted for
payment pursuant to the Asset Sale Offer shall cease to accrue interest after the date of
purchase of the Notes;

     (v) that Holders electing to have a Note purchased pursuant to any Asset Sale Offer
shall be required to surrender the Note, with the form entitled “Option of Holder to Elect
Purchase” on the reverse of the Note completed, to the Company, the Depositary, if appointed
by the Company, or a Paying Agent at the address specified in the notice at least three days
before the Purchase Date;

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

     (vii) that, if the aggregate principal amount of Notes surrendered by Holders exceeds
the amount of the Asset Sale Offer, the Company shall select the Notes to be purchased on a
pro rata basis (with such adjustments as may be deemed appropriate by the Company so that
only Notes in denominations of $2,000, or integral multiples of $1,000 thereof, shall be
purchased); and

     (viii) that Holders whose Notes were purchased only in part shall be issued new Notes
equal in principal amount to the unpurchased portion of the Notes surrendered.

On or before the date of purchase of the Notes, the Company shall, to the extent lawful, accept for
payment, on a pro rata basis to the extent necessary as provided in Section 4.15, the offer amount
of Notes or portions thereof tendered pursuant to the Asset Sale Offer, or if less than the offer
amount has been tendered, all Notes tendered, and shall deliver to the Trustee an Officers’
Certificate stating that such Notes or portions thereof were accepted for payment by the Company in
accordance with the terms of this Section 3.08 and Section 4.15. The Company, the Depositary or the
Paying Agent, as the case may be, shall promptly (but in any case not later than five days after
the date of purchase of the Notes) mail or deliver to each tendering Holder an amount equal to the
purchase price of the Notes tendered by such Holder and accepted by the Company for purchase, and
the Company shall promptly issue a new Note, and the Trustee shall authenticate and mail or deliver
such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note
surrendered. Any Note not so accepted shall be promptly mailed or delivered by the Company to the
Holder thereof. The Company shall publicly announce by means of a press release the results of the
Asset Sale Offer on the date of purchase of the Notes.

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ARTICLE 4.

COVENANTS

Section 4.01. Payment of Notes.

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

     (b) The Company shall pay interest (including post-petition interest in any proceeding under
any Bankruptcy Law) on overdue principal and premium, if any, at the rate then in effect on the
Notes to the extent lawful; it shall pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest and Liquidated Damages
(without regard to any applicable grace period) at the same rate to the extent lawful.

Section 4.02. Maintenance of Office or Agency.

     (a) The Company shall maintain an office or agency in the United States (which may be an
office of the Trustee or an affiliate of the Trustee, Registrar or co-registrar) where Notes may be
surrendered for payment, registration of transfer or for exchange and where notices and demands to
or upon the Company in respect of the Notes and this Indenture may be served. The Company shall
give prompt written notice to the Trustee of the location, and any change in the location, of such
office or agency. If at any time the Company shall fail to maintain any such required office or
agency or shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee.

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

     (c) The Company hereby designates the Trustee’s office at Wells Fargo Bank, National
Association, Corporate Trust Services, 1445 Ross Avenue — 2nd Floor, Dallas, Texas 75202-2812, as
one such office or agency of the Company in accordance with Section 2.03.

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Section 4.03. Reports.

     (a) As long as the Company is subject to the reporting requirements of Section 13 or 15(d) of
the Exchange Act, then the Company shall file with the Trustee, and the Trustee shall
provide Holders, within 15 days after it files them with the SEC, copies of its 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) that the Company are required to file
with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. This Section 4.03(a) does not
create any contractual obligation to file SEC reports.

     (b) As long as the Company is not subject to the reporting requirements of Section 13 or 15(d)
of the Exchange Act, nor exempt from reporting pursuant to Rule 12g3-2(b) under the Exchange Act
and the notes are “restricted securities” within the meaning of Rule 144 under the Securities Act,
upon the request of a Holder who is a “qualified institutional buyer” (as defined in Rule 144A) or
any owner of a beneficial interest in a Note who is a “qualified institutional buyer” (as defined
in Rule 144A), the Company shall promptly furnish or cause to be furnished “Rule 144A Information”
(as defined herein) to such Holder or beneficial owner or to a prospective purchaser of such Note
who is a “qualified institutional buyer” (as defined in Rule 144A) designed by such Holder or
beneficial owner who is a “qualified institutional buyer” (as defined in Rule 144A). “Rule 144A
Information” shall be such information as is specified pursuant to Rule 144A(d)(4) under the
Securities Act (or any successor provision thereto).

     (c) So long as any of the Notes are outstanding, in addition to the requirement to furnish
Rule 144A Information as provided in the preceding paragraph, the Company shall furnish or cause to
be furnished to Holders and (upon the request thereof delivered to the Company or the Trustee) to
any holder of an interest in any Global Note (i) annual consolidated financial statements prepared
in accordance with GAAP (together with notes thereto and a report thereon by an independent
accountant of established national reputation), such statements to be so furnished within 105 days
after the end of the fiscal year covered thereby and (ii) unaudited consolidated financial
statements for each of the first three fiscal quarters of each of the Company’s fiscal years and
the corresponding quarter and year-to-year period of the prior year prepared in all material
respects on a basis consistent with the annual financial statements furnished pursuant to clause
(i) of this paragraph, such statements to be so furnished within 60 days after the end of each such
quarter. If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries, then
the quarterly and annual financial information required by this paragraph will include a reasonably
detailed presentation, either on the face of the financial statements or in the footnotes thereto,
and in Management’s Discussion and Analysis of Financial Condition and Results of Operations, of
the financial condition and results of operations of the Company and its Restricted Subsidiaries
separate from the financial condition and results of operations of its Unrestricted Subsidiaries,
if materially different.

     (d) The Company may satisfy its obligations to delivery any material pursuant to this Section
4.03 by making such information publicly available on its internet website.

Section 4.04. Compliance Certificate.

     (a) The Company shall deliver to the Trustee, within 90 days after the end of each fiscal
year, an Officers’ Certificate stating that a review of the activities of the Company and its
Restricted Subsidiaries during the preceding fiscal year has been made under the supervision of

43

 

the
signing Officers with a view to determining whether each of the Company and its Restricted
Subsidiaries has kept, observed, performed and fulfilled its obligations under this Indenture, and
further stating, as to each such Officer signing such certificate, that to the best of his or her
knowledge 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 of this Indenture (or, if a Default or Event of Default shall have
occurred, describing all such Defaults or Events of Default of which he or she may have knowledge
and what action the Company is taking or proposes to take with respect thereto) and that to the
best of his or her knowledge no event has occurred and remains in existence by reason of which
payments on account of the principal of or interest, if any, on the Notes is prohibited or if such
event has occurred, a description of the event and what action the Company is taking or proposes to
take with respect thereto.

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

Section 4.05. Taxes.

     The Company shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency,
all material taxes, assessments, and governmental levies except such as are contested in good faith
and by appropriate proceedings or where the failure to effect such payment is not adverse in any
material respect to the Holders of the Notes.

Section 4.06. Stay, Extension and Usury Laws.

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

Section 4.07. Restricted Payments.

     (a) The Company shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly:

     (i) declare or pay any dividend or any other distribution or payment on or with respect
to the Company or any of its Restricted Subsidiaries’ Capital Stock other than dividends or
distributions payable solely in the Company’s Equity Interests, other than Disqualified
Stock, and other than dividends paid to the Company or a Restricted Subsidiary;

44

 

     (ii) purchase, redeem, defease or otherwise acquire or retire for value any of the
Company’s or its Restricted Subsidiaries’ Capital Stock, other than any Capital Stock owned
by the Company or a Wholly Owned Restricted Subsidiary of the Company;

     (iii) make any principal payment on, or purchase, defease, repurchase, redeem or
otherwise acquire or retire for value, prior to any scheduled maturity, scheduled repayment,
scheduled sinking fund payment or other stated maturity, any Indebtedness subordinated in
right of payment to the Notes or the Subsidiary Guarantees, other than any such Indebtedness
owned by the Company or a Wholly Owned Restricted Subsidiary; or

     (iv) make any Investment, other than a Permitted Investment (a “Restricted
Investment”),

all such payments and other actions set forth in these clauses (i) through (iv) above being
collectively referred to as “Restricted Payments;” unless, at the time of and after giving effect
to the proposed Restricted Payment:

	 	(1)	 	no Default or Event of Default has occurred and is continuing or would occur as
a consequence of such Restricted Payment; and
	 
	 	(2)	 	the Company would, at the time of such Restricted Payment and after giving pro
forma effect thereto as if such Restricted Payment had been made at the beginning of
the applicable four-quarter period, have been permitted to incur at least $1.00 of
additional Indebtedness pursuant to the Consolidated Fixed Charge Coverage Ratio test
set forth in Section 4.09(a); and
	 
	 	(3)	 	the aggregate amount of that Restricted Payment and all other Restricted
Payments made by the Company and its Restricted Subsidiaries after the date hereof,
excluding Restricted Payments permitted by clauses (ii), (iii), (iv), (vi), (vii), and
(viii) of Section 4.07(b), is less than or equal to the sum, without duplication, of:

     (A) 50% of the Company’s Consolidated Net Income for the period (taken as one
accounting period) from October 1, 2006 to the end of the Company’s most recently ended
fiscal quarter for which the Company has filed financial statements with the SEC (or, if
such Consolidated Net Income for such period is a deficit, less 100% of such deficit), plus

     (B) 100% of (i) the aggregate net cash proceeds received by the Company since the date
hereof as a contribution to the Company’s common equity capital or from the issue or sale
(other than to a Subsidiary) of the Company’s or any of its Restricted Subsidiaries’ Equity
Interests (other than Disqualified Stock), (ii) the amount by which Indebtedness of the
Company or its Restricted Subsidiaries incurred since the date hereof is reduced on the
Company’s consolidated balance sheet as a result of the conversion or exchange (other than
by a Subsidiary) after the date of this Indenture of the Company’s convertible or
exchangeable Disqualified Stock or the Company’s convertible or exchangeable Indebtedness
that has been converted into or exchanged for Equity Interests

45

 

(other than Disqualified
Stock) or (iii) the fair market value (as determined in good faith by the Company’s Board of
Directors) of any assets or property received (including Capital Stock) by the Company after
the date of this Indenture in exchange (other than from a Subsidiary) for the Company’s
Capital Stock (other than Disqualified Stock), plus

     (C) to the extent that any Restricted Investment that the Company or any of its
Restricted Subsidiaries makes after the date hereof is sold or otherwise liquidated or
repaid, an amount equal to the lesser of (i) the amount of cash or the fair market value of
the property or assets received with respect to any such Restricted Investment (less the
cost of disposition, if any) and (ii) the initial amount of such Restricted Investment, plus

     (D) to the extent that any Unrestricted Subsidiary designated as such after the date
hereof is redesignated a Restricted Subsidiary, an amount equal to the lesser of (i) the net
book value of the Company’s Restricted Investment in the Unrestricted Subsidiary at the time
the Unrestricted Subsidiary was designated as such and (ii) the fair market value of the
Company’s Restricted Investment in the Unrestricted Subsidiary at the time of the
redesignation.

     The amount of all Restricted Payments (other than cash) will be the fair market value on the
date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued
by the Company or such Restricted Subsidiary, as the case may be, pursuant to the Restricted
Payment. The fair market value of any assets or securities that are required to be valued by this
Section in excess of $10.0 million will be determined by the Company’s Board of Directors. The
determination of the Board of Directors of the Company must be based upon an opinion or appraisal
issued by an accounting, appraisal or investment banking firm of national standing if the fair
market value exceeds $20.0 million. Not later than the date of making any Restricted Payment in
reliance on clause (3) of this Section 4.07 or Section 4.07(b)(x) below, the Company will deliver
to the Trustee an Officers’ Certificate stating that such Restricted Payment is permitted and
setting forth the basis upon which the calculations required by this Section 4.07 were computed,
together with a copy of any fairness opinion or appraisal required by this Indenture.

     (b) The foregoing provisions will not prohibit:

     (i) the payment of any dividend or distribution within 60 days after the date of its
declaration if, at the date of declaration, the payment would be permitted as summarized
above;

     (ii) the redemption, repurchase, retirement, defeasance or other acquisition of any of
(A) the Company’s Indebtedness or any Indebtedness of any Guarantor that is subordinated to
the Notes or the Subsidiary Guarantees, or (B) the Company’s Equity Interests or any Equity
Interests of any of the Company’s Restricted Subsidiaries, in either case in exchange for,
or out of the net cash proceeds of the substantially concurrent sale (other than to one of
the Company’s Subsidiaries) of, the Company’s Equity Interests (other than Disqualified
Stock); provided, however, that the amount of any such net cash proceeds that are utilized
for any such redemption, repurchase, retirement, defeasance or other acquisition will be
excluded from clause (3)(B) of Section 4.07(a);

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     (iii) the defeasance, redemption, repurchase or other acquisition of the Company’s
Indebtedness or Indebtedness of any Guarantor that is subordinated to the Notes or the
Subsidiary Guarantees with the net cash proceeds from an incurrence of Permitted Refinancing
Indebtedness;

     (iv) (A) the payment of any dividend by any of the Company’s Restricted Subsidiaries to
the holders of that Restricted Subsidiary’s Equity Interests on a pro rata basis so long as
the Company or one of its Restricted Subsidiaries receives at least a pro rata share (and in
like form) of the dividend or distribution in accordance with its Equity Interests of the
relevant class; or (B) the payment of any dividends on Capital Stock that is included in the
definition of Indebtedness that was issued in compliance with Section 4.09;

     (v) the repurchase, redemption or other acquisition or retirement for value of any of
the Company’s or any of the its Restricted Subsidiaries’ Equity Interests held by any member
of the Company’s or any of its Restricted Subsidiaries’ management pursuant to any
management equity subscription agreement, stock option agreement or similar agreement,
provided, however, that the aggregate price paid for all such repurchased, redeemed,
acquired or retired Equity Interests may not exceed $2.5 million in any twelve-month period;

     (vi) upon the occurrence of a Change of Control or an Asset Sale and within 60 days
after the completion of any required offer to repurchase the Notes under Section 4.15 or
Section 4.16 (including the purchase of all Notes tendered), any purchase, repurchase,
redemption, defeasance, acquisition or other retirement for value of subordinated
Indebtedness required under the terms thereof as a result of such Change of Control or Asset
Sale at a purchase or redemption price not to exceed 101% of the outstanding principal
amount thereof, plus accrued and unpaid interest thereon, if any, provided that, in the
notice to holders of Notes relating to a Change of Control hereunder, the Company shall
describe any offer to be made pursuant to this Section 4.07(b)(vi);

     (vii) the purchase by the Company of fractional shares arising out of stock dividends,
splits or combinations or business combinations;

     (viii) repurchases of Equity Interests deemed to occur upon exercise of stock options
or warrants if such Equity Interests represent a portion of the exercise price of such
options or warrants or the payment of withholding taxes through the issuance of Equity
Interests; or

     (ix) the acquisition in open-market purchases of the Company’s common Equity Interests
for matching contributions to the Company’s employee stock purchase and deferred
compensation plans in the ordinary course of business and consistent with past practices; or

     (x) other Restricted Payments in an aggregate amount since the date hereof not to
exceed $25.0 million;

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provided that, with respect to subsections (b)(iv), (v), (vi), (ix) and (x) of this Section
4.07(b), no Default or Event of Default shall have occurred and be continuing immediately after
such transaction.

Section 4.08. Dividend and Other Payment Restrictions Affecting Subsidiaries.

     (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, create or
otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction on
the ability of any Restricted Subsidiary to:

     (i) pay dividends, in cash or otherwise, or make any other distributions on or with
respect to its Capital Stock;

     (ii) pay any Indebtedness owed to the Company or any other Restricted Subsidiary;

     (iii) make loans or advances to, or any Investment in, the Company or any other
Restricted Subsidiary:

     (iv) transfer any of its properties or assets to the Company or any other Restricted
Subsidiary; or

     (v) guarantee any Indebtedness of the Company or any other Restricted Subsidiary.

     (b) The provisions of Section 4.08(a) above shall not apply to encumbrances or restrictions
existing by reason of:

     (i) applicable law;

     (ii) any agreement in effect at or entered into on the date hereof and any extension,
replacement or renewal thereof, including the Credit Facilities in effect on the hereof
date, or any agreement relating to any Indebtedness permitted under this Indenture;
provided, however, that the encumbrances and restrictions contained in the agreements
governing such Indebtedness are not materially more restrictive, taken as a whole, with
respect to the Payment Restrictions than those set forth in the agreements governing either
this Indenture or the Credit Facilities as in effect on the execution date hereof (as
determined in good faith by the Board of Directors of the Company);

     (iii) any agreement for the sale or other disposition of a Restricted Subsidiary that
restricts distributions by such Restricted Subsidiary pending its sale or other disposition;

     (iv) restrictions on cash or other deposits or net worth imposed by customers or
required by insurance, surety or bonding companies, in each case pursuant to contracts
entered into in the ordinary course of business of the Company or its Restricted
Subsidiaries;

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     (v) purchase money obligations for property acquired in the ordinary course of business
that impose restrictions on the property so acquired;

     (vi) Liens securing Indebtedness otherwise permitted to be incurred pursuant to Section
4.11 that limit the right of the Company or any of its Restricted Subsidiaries to dispose of
the assets subject to such Lien;

     (vii) customary restrictions contained in asset sale agreements limiting the transfer
of such assets pending the closing of such sale;

     (viii) customary restrictions on the subletting, assignment or transfer of any property
or asset that is subject to a lease, license or similar contract, or the assignment or
transfer of any such lease, license or other contract;

     (ix) customary restrictions on the disposition or distribution of assets or property in
joint venture agreements, asset sale agreements, stock sale agreements or other similar
agreements that are customary in a Permitted Business and entered into in the ordinary
course of business, but in each case only to the extent such encumbrance or restriction
relates to the transfer of property, or encumbers or restricts the assets, subject to such
agreement;

     (x) any agreement of a Person (or any of its Restricted Subsidiaries) acquired by the
Company or any Restricted Subsidiary, in existence at the time of the acquisition but not
created in contemplation of the acquisition, which encumbrance or restriction is not
applicable to any Person, or the assets of a Person other than the Person so acquired and
any agreement that extends or renews such restrictions; or

     (xi) provisions contained in instruments relating to Indebtedness which prohibit the
transfer of all or substantially all of the assets of the obligor of the Indebtedness unless
the transferee shall assume the obligations of the obligor under the agreement or
instrument.

Section 4.09. Incurrence of Indebtedness

     (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly
or indirectly, incur any Indebtedness, provided, however, that the Company and any Guarantor may
incur Indebtedness if at the time of the incurrence and after giving pro forma effect to the
receipt and application of the proceeds of the Indebtedness, the Consolidated Fixed Charge Coverage
Ratio would be at least 2.0 to 1.0.

     (b) In addition to any Indebtedness that may be incurred under clause (a), the Company and its
Restricted Subsidiaries may incur Permitted Indebtedness.

     (c) For purposes of determining compliance with this Section 4.09, (i) in the event that an
item of Indebtedness meets the criteria of more than one of the types Permitted Indebtedness as of
the date of incurrence thereof, or is entitled to be incurred pursuant to Section 4.09(a) as of the
date of incurrence thereof, the Company, in its sole discretion, will be permitted to classify such
item of Indebtedness on the date of its incurrence, or later classify or reclassify

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all or a
portion of such item of Indebtedness, in any manner that complies with this covenant and (ii) at
each such time, the Company will be entitled to divide, classify and reclassify an item of
Indebtedness in more than one of the types of Indebtedness described above.

     (d) In addition, the Company will not permit any of its Unrestricted Subsidiaries to incur any
Indebtedness, other than Non-Recourse Debt. If an Unrestricted Subsidiary becomes a Restricted
Subsidiary, any Indebtedness of such Subsidiary shall be deemed to be incurred by a
Restricted Subsidiary as of such date (and, if such Indebtedness is not permitted to be
incurred as of such date under this Section 4.09, the Company shall be in default of this Section
4.09).

Section 4.10. Transactions with Affiliates.

     (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly
or indirectly, enter into or suffer to exist any transaction or series of related transactions,
including the sale, transfer, disposition, purchase, exchange or lease of assets, property or
services, with, or for the benefit of any Affiliate (each, an “Affiliate Transaction”), unless:

     (i) the Affiliate Transaction is on terms that are no less favorable to the Company or
the relevant Restricted Subsidiary than those that could have been obtained in a comparable
transaction by the Company or such Restricted Subsidiary with an unrelated Person;

     (ii) and the Company delivers to the Trustee:

     (A) with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate consideration in excess of $10.0 million, a
resolution of the Company’s Board of Directors set forth in an Officers’ Certificate
certifying that such Affiliate Transaction complies with this Section 4.10 and that
such Affiliate Transaction has been approved by a majority of the disinterested
members of the Company’s Board of Directors; and

     (B) with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate consideration in excess of $20.0 million, an
opinion as to the fairness to the Company or the Restricted Subsidiary of such
Affiliate Transaction from a financial point of view issued by an accounting,
appraisal or investment banking firm of national standing.

     (b) The following items will not be deemed to be Affiliate Transactions and, therefore, will
not be subject to the provisions of clause (a) of this Section 4.10:

     (i) compensation or benefits paid to any employee or officer of the Company or a
Restricted Subsidiary or any employment agreement or arrangement entered into by the Company
or any of the Company’s Restricted Subsidiaries in the ordinary course of business;

     (ii) transactions between or among the Company and/or its Restricted Subsidiaries;

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     (iii) transactions with a Person that is an Affiliate (other than an Unrestricted
Subsidiary) of the Company solely because the Company own an Equity Interest in or otherwise
control such Person;

     (iv) transactions pursuant to agreements in effect on the date hereof, and amendments,
extensions or replacements of such agreements (or amendments, extensions or replacements
thereof) that are not materially less favorable to the Company and its Restricted
Subsidiaries than the original agreement;

     (v) the provision of services similar to those provided to third parties in the
ordinary course of business on terms that are no less favorable to the Company and its
Restricted Subsidiaries than those that could have been obtained in a comparable transaction
by the Company or such Restricted Subsidiary with an unrelated Person;

     (vi) payment of reasonable directors fees and indemnities for the Company’s officers or
directors;

     (vii) sales of Equity Interests (other than Disqualified Stock) to Affiliates of the
Company; or

     (viii) Restricted Payments or Permitted Investments that are permitted by Section 4.07
hereof.

Section 4.11. Liens.

     The Company shall not, and shall not permit any of its Restricted Subsidiaries to, incur any
Liens or other encumbrances (other than Permitted Liens) securing Indebtedness unless all payments
due under this Indenture and the Notes or the Subsidiary Guarantees, as applicable, are secured on
an equal and ratable basis (or prior to any subordinated Indebtedness) with the Indebtedness so
secured until such time as such Indebtedness is no longer secured by a Lien.

Section 4.12. Additional Subsidiary Guarantees.

     If the Company or any of its Restricted Subsidiaries acquires or creates a Domestic Subsidiary
on or after the date hereof, then that newly acquired or created Domestic Subsidiary will become a
Guarantor and execute a supplemental indenture within ten Business Days of the date on which it was
acquired or created; provided, however, that the foregoing shall not apply to Subsidiaries that
have properly been designated as Unrestricted Subsidiaries in accordance with this Indenture for so
long as they continue to constitute Unrestricted Subsidiaries; provided further, however, that if
one of the Company’s Restricted Subsidiaries that is not a Guarantor guarantees any of the
Company’s or a Guarantor’s Indebtedness, that Restricted Subsidiary will be required to provide the
Company with a guarantee that ranks pari passu with (or, if that Indebtedness is subordinated
Indebtedness, prior to) that Indebtedness.

Section 4.13. [Intentionally Omitted]

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Section 4.14. Corporate Existence.

     Subject to Article 5 hereof, the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect its corporate existence, and the corporate, partnership
or other existence of each of its Restricted Subsidiaries, in accordance with the respective
organizational documents (as the same may be amended from time to time) of the Company or any such
Restricted Subsidiary; provided, however, that the Company shall not be required to preserve the
corporate, partnership or other existence of any of its Restricted Subsidiaries if the Company
shall determine that the preservation thereof is no longer desirable in the conduct of the business
of the Company and its Restricted Subsidiaries, taken as a whole.

Section 4.15. Asset Sales.

     (a) The Company and its Restricted Subsidiaries may complete an Asset Sale if the Company or a
Restricted Subsidiary, as the case may be, receives consideration at the time of the Asset Sale at
least equal to the fair market value, as determined in good faith by the Company, of the assets
sold or otherwise disposed of, and at least 75% of the consideration received by the Company or the
Restricted Subsidiary is in the form of cash or cash equivalents. The fair market value of any
assets or securities that are required to be valued by this provision in excess of $15.0 million
will be determined by the Company’s Board of Directors. For purposes of determining the amount of
cash received in an Asset Sale, the following will be deemed to be cash:

     (i) the amount of any liabilities on the Company’s or any Restricted Subsidiary’s
balance sheet that are assumed by the transferee of the assets; and

     (ii) the amount of any securities, notes or other obligations received by the Company
or the Restricted Subsidiary from the transferee that is converted by the Company or the
Restricted Subsidiary into cash within 60 days, to the extent of the cash received.

Furthermore, the 75% limitation will not apply to any Asset Sale in which the cash portion of the
consideration received is equal to or greater than what the after-tax proceeds would have been had
the Asset Sale complied with the 75% limitation.

     (b) If the Company or any of its Company’s Restricted Subsidiaries receives Net Proceeds from
one or more Asset Sales, then within 360 days, the Company or any of its Restricted Subsidiaries
may apply such proceeds to:

     (i) permanently prepay or permanently repay or redeem, repurchase or retire any (1) of
the Company’s or a Guarantor’s secured Indebtedness, or (2) Indebtedness of a Restricted
Subsidiary that is not a Guarantor (in each case, with a permanent reduction of availability
in the case of revolving Indebtedness); and/or

     (ii) make an investment in capital assets used or useful in or other capital
expenditures relating to a Permitted Business.

Any Net Proceeds that are not applied or invested in either of these ways will be considered
“Excess Proceeds.”

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Pending the final application of any Net Proceeds, the Company or any Restricted Subsidiary may
temporarily reduce borrowings under the Company’s bank credit facilities, or otherwise invest the
Net Proceeds in any manner that is not prohibited by this Indenture.

     (c) If on the 361st day after an Asset Sale (or at the Company’s option, any earlier date),
the aggregate amount of Excess Proceeds exceeds $25.0 million, the Company will make an offer to
all Holders (an “Asset Sale Offer”) to purchase for cash that amount of Notes that may be purchased
out of the Excess Proceeds at a purchase price equal to 100% of the principal amount of the Note
plus accrued and unpaid interest to the date of purchase. The Company will follow the procedures
set forth in Section 3.08 and will comply with the requirements of Rule 14e-1 under the Exchange
Act and any other applicable securities laws.

     (d) To the extent that the aggregate amount of Notes tendered in response to the Company’s
Asset Sale Offer is less than the Excess Proceeds, the Company or any Restricted Subsidiary may use
such deficiency for general business purposes. If the aggregate principal amount of Notes
surrendered by the Holders exceeds the amount of Excess Proceeds, the Trustee shall select the
Notes to be purchased on a pro rata basis. Notwithstanding the foregoing, if the Company makes
this Asset Sale Offer at any time when the Company has securities or other Indebtedness (other than
intercompany Indebtedness) outstanding ranking equally in right of payment with the Notes and the
terms of those securities or other Indebtedness provide that a similar offer must be made with
respect to those other securities or other Indebtedness, then the Company’s Asset Sale Offer will
be made concurrently with the other offers, and such securities or other Indebtedness of each issue
will be accepted on a pro rata basis in proportion to the aggregate principal amount of such
securities or other Indebtedness of each issue which their holders elect to have purchased. Upon
completion of the Asset Sale Offer, the amount of Excess Proceeds will be reset at zero.

Section 4.16. Offer to Repurchase upon Change of Control.

     (a) Upon the occurrence of a Change of Control, each Holder will have the right to require the
Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000) of that
Holder’s Notes pursuant to a change of control offer (a “Change of Control Offer”) on the terms set
forth in this Indenture. In a Change of Control Offer, the Company will offer a change of control
payment in cash equal to 101% of the aggregate principal amount of the Notes or portion of the
Notes validly tendered for payment, plus accrued and unpaid interest to the date of purchase (the
“Change of Control Payment”).

     (b) Within 30 days following any Change of Control, the Company will mail a notice to each
Holder stating that, among other things, a Change of Control Offer is being made, that all Notes
tendered will be accepted for payment and that any Note not tendered will continue to accrue
interest, and the Company will identify the amount of the Change of Control Payment and the
purchase date (the “Change of Control Payment Date”) for the Notes (which shall be a date not
earlier than 30 days nor later than 60 days from the date such notice is mailed). The notice will
also include directions for Holders who elect to have their Notes purchased in the Change of
Control Offer and state that Holders electing to have any Notes purchased pursuant to the Change of
Control Offer will be required to surrender the Notes, with the form entitled “Option

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of Holder to
Elect Purchase” on the reverse of the Notes completed, to the Paying Agent by the time indicated in
such notice.

     (c) Holders will be entitled to withdraw any election to have their Notes purchased if the
Paying Agent receives timely and proper notice of such withdrawal. The notice from the Company to
Holders will describe the requirements for the notice from the Holders to the Paying Agent.

     (d) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other relevant securities laws applicable to the repurchase of Notes in connection with a Change of
Control.

     (e) On the Change of Control Payment Date, the Company will, to the extent lawful, accept for
payment Notes or portions of Notes tendered in accordance with the Change of Control Offer; deposit
an amount equal to the change of control payment for the Notes with the
Paying Agent in respect of all Notes or portions of Notes properly tendered; and deliver or
cause to be delivered to the Trustee the Notes so accepted together with an Officers’ Certificate
stating the aggregate amount of the Notes or portions of Notes tendered to the Company.

     (f) The Paying Agent will promptly mail or deliver the Change of Control Payment to each
tendering Holder. The Trustee will promptly authenticate and mail or deliver to each Holder a new
Note equal in principal amount to any unpurchased portion of the Notes surrendered. However, each
new Note will be in a principal amount of $2,000 or an integral multiple of $1,000. The Company
will publicly announce the results of the Change of Control Offer on or as soon as practicable
after the Change of Control Payment Date.

Section 4.17. Limitations on Line of Business.

     The Company and its Restricted Subsidiaries will not materially and substantially engage in
any business other than Permitted Businesses, except to such extent as would not be material to the
Company and its Restricted Subsidiaries, taken as a whole.

Section 4.18. Sale and Leaseback Transactions.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, enter into
any Sale and Leaseback Transaction with respect to their properties, provided that the Company and
its Restricted Subsidiaries may enter into a Sale and Leaseback Transaction with respect to
property acquired or constructed after the date hereof if:

     (a) the Company or such Restricted Subsidiary could have (1) incurred
Indebtedness in an amount equal to the Attributable Debt relating to such Sale and
Leaseback Transaction pursuant to the Consolidated Fixed Charge Coverage Ratio test
set forth in Section 4.09(a) and (2) incurred a Lien to secure such Indebtedness
pursuant to Section 4.11,

     (b) the gross cash proceeds of such Sale and Leaseback Transaction are at least
equal to the fair market value of the property that is the subject of such Sale and
Leaseback Transaction, and

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     (c) the transfer of assets in such Sale and Leaseback Transaction is permitted
by, and the Company applies the proceeds of such transaction in compliance with, the
limitations described above in section 4.15, if applicable.

     The fair market value of any assets that are required to be valued by this Section 4.18 in
excess of $10.0 million will be determined by the Board of Directors of the Company.

Section 4.19. Payments for Consent.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or
indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or
otherwise, to or for the benefit of any Holder for or as an inducement to any consent, waiver or
amendment of any of the terms or provisions of this Indenture or the Notes unless such
consideration is offered to be paid and is paid to all Holders that agree to such consent, waiver
or
amendment in the same manner and in the time frame set forth in the solicitation documents
relating to such consent, waiver or agreement.

Section 4.20. Suspension of Covenants.

     Sections 4.07, 4.08, 4.09, 4.10, 4.12, 4.15, 4.17, 4.18(a)(1), 4.18(b), 4.18(c), and 5.01(iv)
(collectively, the “Suspended Provisions”) will no longer be in effect upon the Company attaining
Investment Grade Status. If at any time the Company’s credit rating is downgraded from Investment
Grade Status, then the Suspended Provisions will thereafter be reinstated as if such covenants had
never been suspended and be applicable pursuant to the terms of this Indenture (including in
connection with performing any calculation or assessment to determine compliance with the terms of
this Indenture), unless and until the Company subsequently attains Investment Grade Status (in
which event the Suspended Provisions shall again no longer be in effect for such time that the
Company maintains Investment Grade Status); provided, however, that no Default, Event of Default or
breach of any kind shall be deemed to exist under this Indenture with respect to the Suspended
Provisions based on, and neither the Company nor any of the Company’s Subsidiaries shall bear any
liability for, any actions taken or events occurring after the Company attains Investment Grade
Status and before any reinstatement of such Suspended Provisions as provided above, or any actions
taken at any time pursuant to any contractual obligation arising prior to such reinstatement,
regardless of whether such actions or events would have been permitted if the applicable Suspended
Provisions remained in effect during such period.

ARTICLE 5.

SUCCESSORS

Section 5.01. Merger, Consolidation, or Sale of Assets.

     (a) The Company shall not consolidate or merge with or into, or sell, assign, transfer, lease,
convey or otherwise dispose of all or substantially all of the properties or assets of the Company
and its Restricted Subsidiaries, taken a whole, in one or more related transactions to, another
entity unless:

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     (i) the Company is the surviving entity or the entity formed by or surviving the
transaction, if other than the Company, or the entity to which the sale, assignment,
transfer, lease, conveyance or other disposition was made is a corporation, partnership or
limited liability company organized or existing under the laws of the United States, any
state thereof or the District of Columbia;

     (ii) the entity formed by or surviving the transaction, if other than the Company, or
the entity to which the sale, assignment, transfer, lease conveyance or other disposition
was made assumes all of the Company’s obligations under the Notes and Indenture by means of
a supplemental Indenture in a form reasonably satisfactory to the Trustee;

     (iii) immediately after the transaction no Default or Event of Default exists; and

     (iv) the entity formed by or surviving the transaction, if other than the Company, or
the entity to which the sale, assignment, transfer, lease, conveyance or other disposition
was made will at the time of the transaction and after giving pro forma effect to it as if
the transaction had occurred at the beginning of the applicable four-quarter period, be
permitted to incur at least $1.00 of additional Indebtedness in accordance with Section
4.09(a) hereof; provided that this paragraph (iv) shall not apply with respect to a
transaction between the Company and one or more Restricted Subsidiaries.

Section 5.02. Successor Corporation Substituted.

     Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or
other disposition of all or substantially all of the properties or assets of the Company and its
Restricted Subsidiaries taken as a whole in accordance with Section 5.01 hereof, the successor
corporation formed by such consolidation or into or with which the Company is merged or to which
such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to,
and be substituted for (so that from and after the date of such consolidation, merger, sale,
assignment, transfer, lease, conveyance or other disposition, the provisions of this Indenture
referring to the “Company” shall refer instead to the successor corporation and not to the
Company), and may exercise every right and power of the Company under this Indenture with the same
effect as if such successor Person had been named as the Company herein; provided, however, that
the predecessor Company shall not be relieved from the obligation to pay the principal of and
interest on the Notes or any other amounts owing hereunder or under the Notes in the case of a sale
or lease of all or substantially all of the Company’s assets that meets the requirements of Section
5.01 hereof.

ARTICLE 6.

DEFAULTS AND REMEDIES

Section 6.01. Events of Default.

     Each of the following events constitutes an “Event of Default”:

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     (a) default in the payment of the principal of or premium, if any, on any Note when the same
becomes due and payable, upon stated maturity, acceleration, optional redemption, required
purchase, scheduled principal payment or otherwise;

     (b) default in the payment of an installment of interest on any of the Notes, when the same
becomes due and payable, which default continues for a period of 30 days;

     (c) failure to perform or observe the Company’s obligations in Sections 4.15 and 4.16 (other
than a failure to repurchase the Notes when due), or in Sections 4.07, 4.09 and 5.01 hereof and the
default continues for a period of 30 days after written notice of the default requiring the Company
to remedy the same shall have been given to the Company by the Trustee or to the Company and the
Trustee by holders of 25% in aggregate principal amount of the applicable Notes then outstanding;

     (d) failure to perform or observe any other term, covenant or agreement contained in the Notes
or this Indenture, other than a default specified in either of the three clauses above, and
the default continues for a period of 60 days after written notice of the default requiring
the Company to remedy the same shall have been given to the Company by the Trustee or to the
Company and the Trustee by Holders of 25% in aggregate principal amount of the applicable Notes
then outstanding;

     (e) default or defaults under one or more agreements, instruments, mortgages, bonds,
debentures or other evidences of Indebtedness under which the Company or any Restricted Subsidiary
then has outstanding Indebtedness, if the default:

          (i) is caused by a failure to pay principal, premium or interest with respect to Indebtedness
within the applicable grace period, if any, provided in the Indebtedness (collectively a “Payment
Default”), or

          (ii) results in the acceleration of the Indebtedness prior to its stated maturity,

and, in each case, the principal amount of the Indebtedness, together with the principal amount of
any other Indebtedness under which there has been a Payment Default or the maturity of which has
been so accelerated, amounts to $25.0 million or more;

     (f) a final judgment or judgments, which is or are non-appealable and nonreviewable or which
has or have not been stayed pending appeal or review or as to which all rights to appeal or review
have expired or been exhausted, shall be rendered against the Company, any Guarantor, or any
Significant Subsidiary, provided such judgment or judgments requires or require the payment of
money in excess of $25.0 million in the aggregate and is or are not covered by insurance or
discharged or stayed pending appeal or review within 60 days after entry of such judgment;

     (g) except as permitted by this Indenture, any Subsidiary Guarantee shall be held in any
judicial proceeding to be unenforceable or invalid or shall cease for any reason to be in full
force and effect or any Guarantor, or any Person acting on behalf of any Guarantor, shall deny or
disaffirm its obligations under its Subsidiary Guarantee;

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     (h) a court having jurisdiction in the premises enters a decree or order for

     (i) relief in respect of the Company or any of its Significant Subsidiaries or any
group of Subsidiaries that, taken together, would constitute a Significant Subsidiary, in an
involuntary case under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect,

     (ii) appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator
or similar official of the Company or any of its Significant Subsidiaries or any group of
Subsidiaries that, taken together, would constitute a Significant Subsidiary or for all or
substantially all of the property and assets of the Company or any of its Significant
Subsidiaries, or

     (iii) the winding up or liquidation of the affairs of the Company or any of its
Significant Subsidiaries or any group of Subsidiaries that, taken together, would constitute
a Significant Subsidiary, and,

in each case, such decree or order shall remain unstayed and in effect for a period of 30
consecutive days; or

     (i) the Company or any of its Significant Subsidiaries or any group of Subsidiaries that,
taken together, would constitute a Significant Subsidiary:

     (i) commences a voluntary case under any applicable bankruptcy, insolvency or other
similar law now or hereafter in effect, or consents to the entry of an order for relief in
an involuntary case under any such law, consents to the appointment of or taking possession
by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of
the Company or such Significant Subsidiary or any group of Subsidiaries that, taken
together, would constitute a Significant Subsidiary, or for all or substantially all of the
property and assets of the Company or such Significant Subsidiary or any group of
Subsidiaries that, taken together, would constitute a Significant Subsidiary, or

     (ii)
effects any general assignment for the benefit of creditors.

Section 6.02. Acceleration.

     (a) If any Event of Default occurs and is continuing, the Trustee or the Holders of at least
25% of principal amount of the Notes then outstanding may declare all the Notes to be due and
payable immediately.

     (b) Notwithstanding the foregoing clause (a), in the case of an Event of Default specified in
clause (h) or (i) of Section 6.01 hereof occurs with respect to the Company, any Significant
Subsidiary or any group of Subsidiaries that, taken together, would constitute a Significant
Subsidiary, all outstanding Notes will become due and payable immediately without further action or
notice.

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Section 6.03. Other Remedies.

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

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

Section 6.04. Waiver of Past Defaults.

     At any time after declaration of acceleration, but before a judgment or decree for the payment
of the money due has been obtained by the Trustee, the Holders of at least a majority in principal
amount of Notes then outstanding by written notice to the Company and to the Trustee, may waive any
existing Default or Event of Default for all Holders of Notes, except a Default in the payment of
principal of, premium, if any, or interest on any Note as specified in clause (a) or
(b) of Section 6.01 or in respect of a covenant or provision of this Indenture which cannot be
modified or amended without the consent of the Holder of each outstanding Note affected, and
rescind and annul a declaration of acceleration and its consequences if:

     (a) all existing Events of Default, other than the nonpayment of the principal of, premium, if
any, and interest on the Notes that have become due solely by such declaration of acceleration,
have been cured or waived; and

     (b) such rescission would not conflict with any judgment or decree of a court of competent
jurisdiction.

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

Section 6.05. Control by Majority.

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

Section 6.06. Limitation on Suits.

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

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

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

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

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

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

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

Section 6.07. Rights of Holders of Notes to Receive Payment.

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

Section 6.08. Collection Suit by Trustee.

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

Section 6.09. Trustee May File Proofs of Claim.

     The Trustee is authorized to file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Company
(or any other obligor upon the Notes), its creditors or its property and shall be entitled and
empowered to collect, receive and distribute any money or other property payable or deliverable on
any such claims and any custodian in any such judicial proceeding is hereby

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authorized by each
Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the
making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and any other amounts due the Trustee under Section 7.07 hereof. To the extent that the
payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of the estate in
any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien
on, and shall be paid out of, and to secure the payment of same, the Trustee is hereby granted an
interest security in, 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 Notes or the rights of
any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding.

Section 6.10. Priorities.

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

     First: to the Trustee, its agents and attorneys for amounts due under Sections 6.09 and 7.07
hereof, including payment of all compensation, expense and liabilities incurred, and all advances
made, by the Trustee, its agents or attorneys and the costs and expenses of collection;

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

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

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

Section 6.11. Undertaking for Costs.

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

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Section 6.12. 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 Company, Trustee and the Holders shall continue as though no such proceeding had
been instituted, except that the rights of the Trustee to receive compensation, reimbursement of
any of its expenses or indemnification from the Holders in connection with such proceeding in
accordance with the terms of this Indenture or any separate agreement or understanding between the
Trustee and the Holders shall not be affected by this Section 6.12.

Section 6.13. Rights and Remedies Cumulative.

     Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or wrongfully taken Notes in Section 2.07, no right or remedy herein conferred upon
or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or
remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter existing at law or in
equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise,
shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

Section 6.14. Delay or Omission Not Waiver.

     No delay or omission of the Trustee or of any Holder 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 6 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.

ARTICLE 7.

TRUSTEE

Section 7.01. Duties of Trustee.

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

     (b) Except during the continuance of an Event of Default of which the Trustee has actual
knowledge:

     (i) the duties of the Trustee shall be determined solely by the express provisions of
this Indenture or the TIA and the Trustee undertakes to perform, and
need perform, only those duties that are specifically set forth in this Indenture or the TIA and

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no others, and
no implied covenants or obligations shall be read into this Indenture against the Trustee;
and

     (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture. However, the Trustee shall examine the certificates and opinions to determine
whether or not they conform to the requirements of this Indenture.

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

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

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

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

     (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (a), (b), (c), (e) and (f) of this Section
and Section 7.02.

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

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

Section 7.02. Rights of Trustee.

     (a) In connection with its rights and duties under this Indenture, the Trustee may
conclusively rely and shall be fully protected in acting or refraining from acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order,
Note, or other document believed by it to be genuine and to have been signed or presented by the
proper Person. The Trustee need not investigate any fact or matter stated in the document.

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

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Opinion of Counsel shall be
full and complete authorization and protection from liability in respect of any action taken,
suffered or omitted by it hereunder in good faith and in reliance thereon.

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

     (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
that it believes to be authorized or within the rights or powers conferred upon it by this
Indenture or takes or omits to take in accordance with the written direction of the Holders of a
majority in principal amount of the outstanding Notes 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.

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

     (f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request or direction of any of the Holders unless such Holders shall
have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs,
expenses and liabilities that 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, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine the books, records and premises of the Company
Personally or by agent or attorney.

     (h) Except with respect to Section 4.01, the Trustee shall have no duty to inquire as to the
performance of the Company’s covenants set forth in Article 4. The Trustee shall not be deemed to
have knowledge of any Default or Event of Default except (i) any Event of Default occurring
pursuant to Sections 6.01(a), 6.01(b) and 4.01 or (ii) any Default or Event of Default of which the
Trustee shall have received written notification in the manner set forth in this Indenture or a
Responsible Officer of the Trustee shall have obtained actual knowledge of the Default or Event of
Default.

Section 7.03. Individual Rights of Trustee.

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

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Section 7.04. Trustee’s Disclaimer.

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

Section 7.05. Notice of Defaults.

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

Section 7.06. Reports by Trustee to Holders of the Notes.

     Within 60 days after each December 15 beginning with December 15, 2007, and for so long as
Notes remain outstanding, the Trustee shall mail to the Holders of the Notes a brief report dated
as of such reporting date that complies with TIA § 313(a) (but if no event described
in TIA § 313(a) has occurred within the twelve months preceding the reporting date, no report
need be transmitted). The Trustee also shall comply with TIA § 313(b)(2). The Trustee shall also
transmit by mail all reports as required by TIA § 313(c).

     A copy of each report at the time of its mailing to the Holders of Notes shall be mailed to
the Company and filed with the Commission and each stock exchange on which the Notes are listed in
accordance with TIA § 3 13(d). The Company shall promptly notify the Trustee when the Notes are
listed on any stock exchange.

Section 7.07. Compensation and Indemnity.

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

     The Company shall indemnify, defend and hold harmless the Trustee and its shareholders,
incorporators, directors, officers, employees, representatives and agents (each an “Indemnitee”)
against any and all losses, liabilities or expenses (including reasonable fees and disbursements of
counsel) incurred by any of them arising out of or in connection with the acceptance or
administration of the Trustee’s duties under this Indenture, including the costs and

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expenses of
enforcing this Indenture against the Company (including this Section 7.07) and defending any of
themselves against any claim (whether asserted by the Company or any Holder or any other Person) or
liability in connection with the exercise or performance of any of the Trustee’s powers or duties
hereunder, except to the extent any such loss, liability or expense or a portion thereof may be
attributable to the Trustee’s negligence or bad faith. An Indemnitee shall notify the Company
promptly of any claim for which that Indemnitee may seek indemnity. Failure by the Indemnitee to so
notify the Company shall not relieve the Company of its obligations hereunder. Subject to receipt
of the consent of the party to be defended, which consent shall not be unreasonable withheld or
delayed, the Company shall defend the claim and the Trustee shall cooperate in the defense. The
Indemnitees may have separate counsel and the Company shall pay the reasonable fees and expenses of
such counsel. The Company need not pay for any settlement made without its consent, which consent
shall not be unreasonably withheld or delayed. The Company need not reimburse any expense or
indemnify against any loss, liability or expense incurred by an Indemnitee through that
Indemnitee’s own willful misconduct, negligence or bad faith.

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

     To secure the Company’s payment obligations in this Section, the Trustee shall have a Lien and
is hereby granted a security interest prior in right of payment prior to the Notes on all money or
property held or collected by the Trustee, except that held in trust to pay principal and interest
on particular Notes. Such Lien shall survive the satisfaction and discharge of this Indenture.

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

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

Section 7.08. Replacement of 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 in writing at any time and be discharged from the trust hereby created
by so notifying the Company. The Holders of Notes of a majority in principal amount of the then
outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in writing.
The Company may remove the Trustee if:

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

     (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;

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

     (d) the Trustee becomes incapable of acting.

     Subject to the provisions of TIA §310(b), 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 Notes may appoint a successor Trustee to replace the
successor Trustee appointed by the Company.

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

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

     A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders of the Notes. Subject to the Lien provided for in Section 7.07 hereof, the retiring Trustee
shall promptly transfer all property held by it as Trustee to the successor Trustee; provided,
however, that all sums owing to the retiring Trustee hereunder shall have been paid and the
property so transferred shall remain subject to the Lien provided for in Section 7.07.
Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Company’s obligations
under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.

Section 7.09. Successor Trustee by Merger, etc.

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

Section 7.10. Eligibility; Disqualification.

     There shall at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate Trustee power, that is subject to supervision or examination
by federal or state authorities, and that has (or the bank holding company of which it is an
Affiliate has) a combined capital and surplus of at least $50.0 million as set forth in its most
recent published annual report of condition.

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     This Indenture shall always have a Trustee who satisfies the requirements of TIA §§ 310(a)(1),
(2) and (5). The Trustee is subject to TIA § 310(b); provided, however, that there shall be
excluded from the operation of TIA § 310 (b)( 1) any indenture or indentures under which other
securities or certificates of interest or participation in other securities of the Company are
outstanding if the requirements for such exclusions set forth in TIA § 31 0(b)( 1) are met.

Section 7.11. Preferential Collection of Claims Against Company.

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

ARTICLE 8.

NOTE GUARANTEES

Section 8.01. Subsidiary Guarantees. (a) Subject to this Article 8, each of the Guarantors,
from time to time party hereto, hereby, jointly and severally, unconditionally guarantees to each
Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors
and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the
obligations of the Company hereunder or thereunder, that: (i) the principal of premium, if any, and
interest on the Notes will be promptly paid in full when due, whether at maturity, by acceleration,
redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if
any, if lawful, and all other obligations of the Company to the Holders or the Trustee hereunder or
thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and
thereof; and (ii) in case of any extension of time of payment or renewal of any Notes or any of
such other
obligations, that same will be promptly paid in full when due or performed in accordance with
the terms of the extension or renewal, whether at stated maturity, by acceleration pursuant to
Section 6.02 hereof or otherwise. Failing payment when due of any amount so guaranteed or any
performance so guaranteed for whatever reason, the Guarantors shall be jointly and severally
obligated to pay the same immediately. Each Guarantor agrees that this is a guarantee of payment
and not a guarantee of collection.

     (b) Each Guarantor hereby agrees that, to the extent permitted by law, its obligations with
regard to such Subsidiary Guarantee shall be joint and several, unconditional, irrespective of the
validity or enforceability of the Notes or the obligations of the Company under this Indenture, the
absence of any action to enforce the same, the recovery of any judgment against the Company or any
other obligor with respect to this Indenture, the Notes or the obligations of the Company under
this Indenture or the Notes, any action to enforce the same or any other circumstances (other than
complete performance) which might otherwise constitute a legal or equitable discharge or defense of
a Guarantor. Each Guarantor further, to the extent permitted by law, waives and relinquishes all
claims, rights and remedies accorded by applicable law to guarantors and agrees not to assert or
take advantage of any such claims, rights or remedies, including but not limited to: (i) any right
to require any of the Trustee, the Holders or the Company (each, a “Benefited Party”), as a
condition of payment or performance by such Guarantor, to (A) proceed against the Company, any
other guarantor (including any other Guarantor) of the obligations under the Subsidiary Guarantees
or any other Person, (B) proceed

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against or exhaust any security held from the Company, any such
other guarantor or any other Person, (C) proceed against or have resort to any balance of any
deposit account or credit on the books of any Benefited Party in favor of the Company or any other
Person, or (D) pursue any other remedy in the power of any Benefited Party whatsoever; (ii) any
defense arising by reason of the incapacity, lack of authority or any disability or other defense
of the Company, including any defense based on or arising out of the lack of validity or the
unenforceability of the obligations under the Subsidiary Guarantees or any agreement or instrument
relating thereto or by reason of the cessation of the liability of the Company from any cause other
than payment in full of the obligations under the Subsidiary Guarantees; (iii) any defense based
upon any statute or rule of law which provides that the obligation of a surety must be neither
larger in amount nor in other respects more burdensome than that of the principal; (iv) any defense
based upon any Benefited Party’s errors or omissions in the administration of the obligations under
the Subsidiary Guarantees, except behavior which amounts to bad faith; (v)(A) any principles or
provisions of law, statutory or otherwise, which are or might be in conflict with the terms of the
Subsidiary Guarantees and any legal or equitable discharge of such Guarantor’s obligations
hereunder, (B) the benefit of any statute of limitations affecting such Guarantor’s liability
hereunder or the enforcement hereof, (C) any rights to set-offs, recoupments and counterclaims and
(D) promptness, diligence and any requirement that any Benefited Party protect, secure, perfect or
insure any security interest or lien or any property subject thereto; (vi) notices, demands,
presentations, protests, notices of protest, notices of dishonor and notices of any action or
inaction, including acceptance of the Subsidiary Guarantees, notices of default under the Notes or
any agreement or instrument related thereto, notices of any renewal, extension or modification of
the obligations under the Subsidiary Guarantees or any agreement related thereto, and notices of
any extension of credit to the Company and any right to consent to any thereof; (vii) to the extent
permitted under applicable law, the benefits of any “One Action” rule and (viii) any defenses or
benefits that may be derived from or afforded by law which limit the liability of or exonerate
guarantors or sureties, or which may conflict with the terms of the
Subsidiary Guarantees. Except as set forth in Sections 8.02 and 8.05, each Guarantor hereby
covenants that its Subsidiary Guarantee will not be discharged except by complete performance of
the obligations contained in its Subsidiary Guarantee and this Indenture.

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

     (d) Each Guarantor agrees that it shall not be entitled to any right of subrogation in
relation to the Holders in respect of any obligations guaranteed hereby until payment in full of
all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors,
on the one hand, and the Holders and the Trustee, on the other hand, (i) the maturity of the
obligations guaranteed hereby may be accelerated as provided in Section 6.02 hereof for the
purposes of any Subsidiary Guarantee, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the obligations guaranteed hereby and (ii) in the event
of any declaration of acceleration of such obligations as provided in Section 6.02 hereof, such
obligations (whether or not due and payable) shall forthwith become due and payable by the
Guarantors for the purpose of any such Subsidiary Guarantee. The Guarantors shall have the

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right to
seek contribution from any non-paying Guarantor so long as the exercise of such right does not
impair the rights of the Holders under the applicable Subsidiary Guarantee.

Section 8.02. Form of Guarantees; Additional Guarantees.

     The Subsidiary Guarantee of each Guarantor that is a party to this Indenture on the date
hereof shall be evidenced by its execution of this Indenture by an Officer or other authorized
signatory thereof. If any Restricted Subsidiary becomes obligated pursuant to Section 4.12 hereof,
then the Company shall cause any such Restricted Subsidiary to, within ten Business Days of the
date on which any such Restricted Subsidiary became so obligated, execute and deliver to the
Trustee a supplemental indenture in form reasonably satisfactory to the Trustee pursuant to which
such Restricted Subsidiary shall unconditionally guarantee, on a senior unsecured basis, all of the
Company’s obligations under the Notes and this Indenture on the terms set forth herein and therein.
Any Restricted Subsidiary that becomes a Guarantor shall remain a Guarantor unless (i) designated
an Unrestricted Subsidiary by the Company in accordance with this Indenture; (ii) such Restricted
Subsidiary is otherwise released from its obligations as a Guarantor pursuant to Section 8.05
hereof; or (iii) the circumstances giving rise to the obligation to provide a guarantee under
Section 4.12 no longer exist.

Section 8.03. Limitation on Guarantor Liability.

     Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the
intention of all such parties that the Subsidiary Guarantee of such Guarantor not constitute a
fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance
Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent
applicable to any Subsidiary Guarantee. To effectuate the foregoing intention, the Trustee, the
Holders and the Guarantors hereby irrevocably agree that the obligations of such Guarantor under
this Article 8 shall be limited to the maximum amount as will not, after giving effect to such
maximum amount and all other contingent and fixed liabilities of such Guarantor that are
relevant under such laws, and after giving effect to any collections from, rights to receive
contribution from or payments made by or on behalf of any other Guarantor in respect of the
obligations of such other Guarantor under this Article 8, result in the obligations of such
Guarantor under its Subsidiary Guarantee constituting a fraudulent transfer or conveyance.

Section 8.04. Merger and Consolidation of Guarantors.

     Except as otherwise provided in Section 8.05 hereof, a Guarantor may not sell or otherwise
dispose of all or substantially all of its assets to, or consolidate with or merge with or into
(whether or not such Guarantor is the surviving Person), another Person, other than the Company or
another Guarantor, unless:

     (a) immediately after giving effect to that transaction, no Default or Event of Default
exists; and

     (b) either: (1) the Person acquiring the property in any such sale or disposition or the
Person formed by or surviving any such consolidation or merger assumes all the obligations of that
Guarantor under this Indenture and its Subsidiary Guarantee pursuant to a supplemental

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indenture reasonably satisfactory to the Trustee; or (2) such sale or other disposition complies with Section
4.15 hereof.

     In case of any such sale or other disposition, or consolidation, merger and upon the
assumption by the successor Person, by supplemental indenture, executed and delivered to the
Trustee and satisfactory in form to the Trustee, of the Subsidiary Guarantee and the due and
punctual performance of all of the covenants and conditions of this Indenture to be performed by
the Guarantor, such successor Person shall succeed to and be substituted for the Guarantor with the
same effect as if it had been named herein as a Guarantor. All the Subsidiary Guarantees so issued
shall in all respects have the same legal rank and benefit under this Indenture as the Subsidiary
Guarantees theretofore and thereafter issued in accordance with the terms of this Indenture as
though all of such Subsidiary Guarantees had been issued at the date of the execution hereof.

     Except as set forth in Articles 4 and 5 hereof, and notwithstanding clauses (a) and (b) of
this Section 8.04, nothing contained in this Indenture or in any of the Notes shall prevent any
consolidation or merger of a Guarantor with or into the Company or another Guarantor, or shall
prevent any sale or conveyance of the property of a Guarantor as an entirety or substantially as an
entirety to the Company or another Guarantor.

Section 8.05. Release.

     Notwithstanding Section 8.04, the Subsidiary Guarantee of a Guarantor will be released:

     (a) upon the sale or other disposition of all or substantially all of the assets of that
Guarantor (including by way of merger or consolidation) to a Person that is not (either before or
after giving effect to such transaction) a Subsidiary, if the sale or other disposition complies
with Section 4.15;

     (b) upon the sale or disposition of all of the Capital Stock of a Guarantor to a Person that
is not (either before or after giving effect to such transaction) a Subsidiary of the Company, if
the sale complies with Section 4.15 hereof;

     (c) if the Company designates any Restricted Subsidiary that is a Guarantor as an Unrestricted
Subsidiary in accordance with this Indenture;

     (d) if the Company effects a Legal Defeasance or Covenant Defeasance of the Notes; or

     (e) upon the liquidation or dissolution of such Guarantor provided no Default or Event of
Default has occurred or is continuing under this Indenture.

Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel
to the effect that any of the foregoing requirements or the provisions for release in Section 8.02
are satisfied, the Trustee shall execute any documents reasonably required in order to evidence the
release of any Guarantor from its obligations under its Subsidiary Guarantee and this Indenture.
Any Guarantor not released from its obligations under its Subsidiary Guarantee

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shall remain liable
for the full amount of principal of and interest on the Notes and for the other obligations of any
Guarantor under this Indenture as provided in this Article 8.

ARTICLE 9.

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

Section 9.01. Option to Effect Legal Defeasance or Covenant Defeasance.

     The Company may at any time, elect to have either Section 9.02 or 9.03 hereof be applied to
all outstanding Notes upon compliance with the conditions set forth below in this Article 9.

Section 9.02. Legal Defeasance and Discharge.

     Upon the Company’s exercise under Section 9.01 hereof of the option applicable to this Section
9.02, the Company shall, subject to the satisfaction of the conditions set forth in Section 9.04
hereof, be deemed to have been discharged from its obligations with respect to all outstanding
Notes on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”).
For this purpose, Legal Defeasance means that the Company shall be deemed to have paid and
discharged the entire Indebtedness represented by the outstanding Notes, which shall thereafter be
deemed to be “outstanding” only for the purposes of Section 9.05 hereof and the other Sections of
this Indenture referred to in clauses (a) through (e) below, and to have satisfied all its other
obligations under such Notes and this Indenture (and the Trustee, on demand of and at the expense
of the Company, shall execute proper instruments acknowledging the same), except for the following
provisions which shall survive until otherwise terminated or discharged hereunder:

     (a) the rights of Holders of outstanding Notes to receive payments from the trust described in
Section 9.05 with respect to any principal, premium, and interest on the Notes when the payments
are due;

     (b) the Company’s obligations with respect to the Notes concerning issuing temporary Notes,
registration of Notes or mutilated, destroyed, lost or stolen Notes;

     (c) the Company’s obligation to maintain an office or agency for payment and money for
security payments held in trust;

     (d) the rights, powers, trusts, duties and immunities of the Trustee, and the Company’s
obligations in connection therewith; and

     (e) the Legal Defeasance and Covenant Defeasance provisions of Article 9.

     Subject to compliance with this Article 9, the Company may exercise its option under this
Section 9.02, notwithstanding the prior exercise of its option under Section 9.03 hereof.

72

 

Section 9.03. Covenant Defeasance.

     Upon the Company’s exercise under Section 9.01 hereof of the option applicable to this Section
9.03, the Company shall, subject to the satisfaction of the conditions set forth in Section 9.04
hereof, be released from its obligations under the covenants contained in Sections 4.03, 4.07
through 4.13 and 4.15 through 4.20 hereof, both inclusive, and Section 5.01 (a)(iv) with respect to
the outstanding Notes on and after the date the conditions set forth below are satisfied
(hereinafter, “Covenant Defeasance”), and the Notes shall thereafter be deemed not “outstanding”
for the purposes of any direction, waiver, consent or declaration or act of holders (and the
consequences of any thereof) in connection with such covenants, but shall continue to be deemed
“outstanding” for all other purposes hereunder (it being understood that such Notes shall not be
deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with
respect to the outstanding Notes, the Company may omit to comply with and shall have no liability
in respect of any term, condition or limitation set forth in any such covenant, whether directly or
indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any
reference in any such covenant to any other provision herein or in any other document, and such
omission to comply shall not constitute a Default or an Event of Default under Section 6.01 hereof,
but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected
thereby. In addition, upon the Company’s exercise under Section 9.01 hereof of the option
applicable to this Section 9.03, subject to the satisfaction of the conditions set forth in Section
9.04 hereof, Sections 6.01(e), (f) and (g) hereof shall not constitute Events of Default.

Section 9.04. Conditions to Legal or Covenant Defeasance.

     The following are the conditions precedent to the application of either Section 9.02 or 9.03
hereof to the outstanding Notes:

     In order to exercise either Legal Defeasance or Covenant Defeaseance:

     (1) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the
Holders, cash in U.S. dollars, non-callable U.S. Government Securities, or a combination thereof,
in amounts sufficient, in the opinion of a nationally recognized firm of independent public
accountants, to pay the principal, any premium and interest on the outstanding Notes on the stated
maturity date or on the applicable redemption date;

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

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

     (b) since the date of this Indenture, there has been a change in the applicable
federal income tax law,

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

73

 

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

     (4) the Company shall have delivered to the Trustee an Officer’s Certificate stating that (a)
the Company did not make the deposit referred to in clause (1) with the intent of preferring the
holders of Notes over its other creditors or with the intent of defeating, hindering, delaying or
defrauding its other creditors, and (b) the Legal Defeasance or Covenant Defeasance will not result
in a breach, violation or constitute a default under any material agreement or instrument, other
than this Indenture, to which the Company or any of its Restricted Subsidiaries is a party or by
which it or any of the Company’s Restricted Subsidiaries is bound; and

     (5) the Company shall deliver to the Trustee an Opinion of Counsel stating that all conditions
precedent provided for or relating to Legal Defeasance or Covenant Defeasance have been complied
with.

Section 9.05. Deposited Money and U.S. Government Securities to Be Held in Trust; Other
Miscellaneous Provisions.

     Subject to Section 9.06 hereof, all money and U.S. Government Securities (including the
proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for
purposes of this Section 9.05 only, the “Trustee”) pursuant to Section 9.04 hereof in respect of
the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the
provisions of such Notes and this Indenture, to the payment, either directly or through any Paying
Agent (other than the Company) as the Trustee may determine, to the Holders of such Notes of all
sums due and to become due thereon in respect of principal or redemption price of, and Liquidated
Damages, if any, and interest on, the Notes, provided that such money need not be segregated from
other funds except to the extent required by law.

     The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or U.S. Government Securities deposited pursuant to
Section 9.04 hereof or the principal and interest received in respect thereof other than any
such tax, fee or other charge which by law is for the account of the Holders of the outstanding
Notes.

     Anything in this Article 9 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Company from time to time upon the request of the Company any money or U.S. Government
Securities held by it as provided in Section 9.04 hereof which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee (which may be the opinion delivered under Section 9.04(1) hereof), are in
excess of the amount thereof that would then be required to be deposited to effect an equivalent
Legal Defeasance or Covenant Defeasance.

74

 

Section 9.06. Repayment to the Company.

     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal, redemption price or purchase price of, or Liquidated
Damages, if any, or interest on any Note and remaining unclaimed for two years after such amount
has become due and payable shall be paid to the Company on its request or (if then held by the
Company) shall be discharged from such trust; and the Holder of such Note shall thereafter look
only to the Company for payment thereof as a general creditor, and all liability of the Trustee or
such Paying Agent with respect to such trust money, and all liability of the Company as trustee
thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before
being required to make any such repayment, at the expense of the Company, may cause to be published
once, in The New York Times or The Wall Street Journal (national edition), notice that such money
remains unclaimed and that, after a date specified therein, which shall not be less than 30 days
after the date of such notification or publication, any unclaimed balance of such money then
remaining will be repaid to the Company.

Section 9.07. Reinstatement.

     If the Trustee or Paying Agent is unable to apply any United States dollars or U.S. Government
Securities in accordance with Section 9.05 hereof, by reason of any order of judgment of any court
or governmental authority enjoining, restraining or otherwise prohibiting such application, then
the obligations of the Company under this Indenture and the Notes shall be revived and reinstated
as though no deposit had occurred pursuant to Section 9.04 hereof until such time as the Trustee or
Paying Agent is permitted to apply all such money in accordance with Section 9.05 hereof, as the
case may be; provided, however, that, if the Company makes any payment with respect to any Note
following the reinstatement of its obligations, the Company shall be subrogated to the rights of
the Holders of such Notes to receive such payment from the money held by the Trustee or Paying
Agent.

ARTICLE 10.

AMENDMENT, SUPPLEMENT AND WAIVER

Section 10.01. Without Consent of Holders of Notes.

     Notwithstanding Section 10.02 of this Indenture, without the consent of any Holder, the
Company and the Trustee may amend or supplement this Indenture or the Notes to:

     (a) cure any ambiguity, defect or inconsistency;

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

     (c) provide for the assumption of the Company’s obligations to the Holders of the Notes
pursuant to Article 5 hereto;

     (d) make any change that could provide any additional rights or benefits to the Holders or
that does not materially adversely affect the legal rights hereunder of any Holder;

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

75

 

     (f) provide security for or add guaranties with respect to the Notes; or

     (g) conform this Indenture or the Notes to any provision of the “Description of Notes”
included in the offering circular dated November 29, 2006, relating to the Offering.

Section 10.02. With Consent of Holders of Notes.

     (a) Except as provided below in this Section 10.02, this Indenture and the Notes may be
amended or supplemented, and, subject to Sections 6.04 and 6.07 hereof, any existing Default or
Event of Default or compliance with any provision of this Indenture or the Notes may be waived,
with the consent of the Holders of at least a majority in principal amount of the Notes then
outstanding voting as a single class (including, without limitation, consents obtained in
connection with a tender offer or exchange offer for, or purchase of, the Notes). However, without
the consent of each Holder affected, an amendment or waiver under this Section 10.02 may not (with
respect to any Notes held by a non-consenting Holder):

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

     (ii) reduce the principal of or change the fixed maturity of any Note or alter the
provisions with respect to the redemption of the Notes, other than Sections 4.15 and 4.16;

     (iii) reduce the rate of or change the time for payment of interest on any Note;

     (iv) waive a Default in the payment of principal or interest on the Notes;

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

     (vi) make any change in the provisions of this Indenture relating to waivers of past
Defaults, including Section 6.04, or the rights of Holders to receive payments of principal,
premium, if any, or interest on the Notes;

     (vii) release any Guarantor from any of its obligations under its Subsidiary Guarantee
or this Indenture, except in accordance with the terms of this Indenture; or

     (viii) make any change in the foregoing amendment and waiver provisions.

     (b) Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental Indenture, and upon the filing with
the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Notes as
aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the
Trustee shall join with the Company in the execution of such amended or supplemental Indenture
unless such amended or supplemental Indenture directly affects the Trustee’s own rights, duties or
immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but
shall not be obligated to, enter into such amended or supplemental Indenture.

76

 

     (c) It shall not be necessary for the consent of the Holders of Notes under this Section 10.02
to approve the particular form of any proposed amendment or waiver, but it shall be sufficient if
such consent approves the substance thereof.

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

Section 10.03. Compliance with Trust Indenture Act.

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

Section 10.04. Revocation and Effect of Consents.

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

     The Company may establish a record date as it may select for purposes of determining the
Holders entitled to consent to any amendment, supplement or waiver pursuant to this Indenture. If
a record date is fixed, then only Persons who were Holders as of such record date shall be entitled
to revoke a consent previously given in accordance with the preceding paragraph, whether or not
such Persons continue to be Holders after the record date.

Section 10.05. Notation on or Exchange of Notes.

     The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee
shall, upon receipt of an Authentication Order, in accordance with Section 2.02 with respect to
those Notes, authenticate new Notes that reflect the amendment, supplement or waiver.

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

Section 10.06. Trustee to Sign Amendments, etc.

     The Trustee shall sign any amended or supplemental Indenture authorized pursuant to this
Article 10 if the amendment or supplement does not adversely affect the rights, duties, liabilities
or immunities of the Trustee. The Company may not sign an amendment or

77

 

supplemental Indenture until
its Board of Directors approves it. In executing any amended or supplemental indenture, the Trustee
shall be entitled to receive and (subject to Section 7.01 hereof) shall be fully protected in
relying upon, in addition to the documents required by Section 10.02(b) hereof, an Officer’s
Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental
indenture is authorized or permitted by this Indenture.

ARTICLE 11.

SATISFACTION AND DISCHARGE

Section 11.01. Satisfaction and Discharge. This Indenture will be discharged and will cease to be
of further effect as to all Notes issued hereunder, when:

	 	(1)	 	either:

	 	(a)	 	all Notes that have been authenticated, except lost, stolen or
destroyed Notes that have been replaced or paid and Notes for whose payment
money has been deposited in trust and thereafter repaid to the Company, have
been delivered to the Trustee for cancellation; or
	 
	 	(b)	 	all Notes that have not been delivered to the Trustee for
cancellation have become due and payable by reason of the mailing of a notice
of redemption or otherwise or will become due and payable by reason of the
mailing of a notice of redemption or otherwise within one year and the Company
has irrevocably deposited or caused to be deposited with the Trustee as trust
funds in trust solely for the benefit of the Holders of the Notes, cash in U.S.
dollars, non-callable U.S. Government Securities, or a combination thereof, in
amounts as will be sufficient without consideration of any reinvestment of
interest, to pay and discharge the entire Indebtedness on the Notes not
delivered to the Trustee for cancellation for principal and premium, if any,
and accrued interest to the date of maturity or redemption;

	 	(2)	 	no Default or Event of Default has occurred and is continuing on the date of
the deposit or will occur as a result of the deposit (other than a Default or Event of
Default resulting from borrowing of funds to be applied to such deposit and the grant
of any Lien securing such borrowing) and the deposit will not result in a breach or
violation of, or constitute a default under, any other material debt instrument to
which the Company is a party or by which the Company is bound;
	 
	 	(3)	 	the Company has paid or caused to be paid all sums payable by the Company under
this Indenture;
	 
	 	(4)	 	the Company has delivered irrevocable instructions to the Trustee under this
Indenture to apply the deposited money toward the payment of the Notes issued
thereunder at maturity or the redemption date, as the case may be; and

78

 

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

Notwithstanding the satisfaction and discharge of this Indenture, the Company’s obligations in
Sections 2.03, 2.06, 2.07, 7.07, 7.08, 12.02, 12.03 and 12.04, and the Trustee’s and Paying Agent’s
obligations in Section 11.02 shall survive until the Notes are no longer outstanding. Therefore,
only the Company’s obligations in Section 7.07 shall survive.

Section 11.02. Application of Trust.

     All money deposited with the Trustee pursuant to Section 11.01 shall be held in trust and, at
the written direction of the Company, be invested prior to maturity in U.S. Government Securities,
and applied by the Trustee in accordance with the provisions of the Notes and this Indenture, to
the payment, either directly or through any Paying Agent as the Trustee may determine, to the
Persons entitled thereto, of the principal (and premium, if any) and interest on the Notes; but
such money need not be segregated from other funds except to the extent required by law.

ARTICLE 12.

MISCELLANEOUS

Section 12.01. Trust Indenture Act Controls.

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

Section 12.02. Notices.

     Any notice or communication to the Company, the Guarantors or the Trustee to the others is
duly given if in writing and delivered in person or mailed by first class mail (registered or
certified, return receipt requested), telex, telecopier or overnight air courier guaranteeing
next-day delivery, addressed as follows.

     if to the Company or the Guarantors:

Complete Production Services, Inc.

11700 Old Katy Rd.

Suite 300

Houston, Texas 77079

Facsimile No.: (281) 372-2301

Attention: Chief Financial Officer

     if to the Trustee:

Wells Fargo Bank, National Association

1445 Ross Avenue — 2nd Floor

Dallas, Texas 75202-2812

Attention: Corporate Trust Administration

79

 

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

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

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

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

     Where this Indenture provides for notice in any manner, such notice may be waived in writing
by the Person entitled to receive such notice, either before or after the event, and such waiver
shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver.

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

Section 12.03. Communication by Holders of Notes with Other Holders of Notes.

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

Section 12.04. Certificate and Opinion as to Conditions Precedent.

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

     (a) an Officers’ Certificate in form and substance reasonably satisfactory to the Trustee
(which shall include the statements set forth in Section 12.05 hereof) stating that, in the

80

 

opinion
of the signers, all conditions precedent and covenants, if any, provided for in this Indenture
relating to the proposed action have been satisfied; and

     (b) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which
shall include the statements set forth in Section 12.05 hereof) stating that, in the opinion of
such counsel, all such conditions precedent and covenants have been satisfied.

Section 12.05. Statements Required in Certificate or Opinion.

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

     (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;

     (c) a statement that, in the opinion of such Person, he or she has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not
such covenant or condition has been satisfied; and

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

Section 12.06. Rules by Trustee and Agents.

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

Section 12.07. No Personal Liability of Directors, Officers, Employees and Stockholders.

     No recourse for the payment of the principal of, premium, if any, or interest or Liquidated
Damages, if any, on any of the Notes, or for any claim based thereon or otherwise in respect
thereof, and no recourse under or upon any obligation, covenant or agreement of the Company or of
any Guarantor contained in this Indenture or in any of the Notes, or because of the creation of any
Indebtedness represented thereby, shall be had against any incorporator or past, present or future
director, officer, employee, controlling Person or stockholder of the Company or of any Guarantor.
Each Holder by accepting a Note waives and releases all such liability. The waiver and release are
part of the consideration for issuance of the Notes.

Section 12.08. Governing Law.

     THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE
AND THE NOTES.

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Section 12.09. No Adverse Interpretation of Other Agreements.

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

Section 12.10. Successors.

     All agreements of the Company in this Indenture and the Notes shall bind its successors. All
agreements of the Trustee in this Indenture shall bind its successors.

Section 12.11. Severability.

     In case any provision in this Indenture or in the Notes 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 12.12. Counterpart Originals.

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

Section 12.13. Table of Contents, Headings, etc.

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

[Signatures on following page]

82

 

SIGNATURES

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,

 as
Trustee

 	 
	 	By:  	/s/  Nancye
Patterson	 
	 	 	Name:  Nancye
Patterson	 
	 	 	Title:    Vice President	 
	 

S-1

 

	 	 	 	 	 
	 	COMPLETE PRODUCTION SERVICES, INC.

 	 
	 	By:  	/s/
J. Michael Mayer	 
	 	 	Name:  	J. Michael Mayer 	 
	 	 	Title:  	Senior Vice President and Chief Financial Officer 	 
	 

S-2

 

	 	 	 
	 

	 	A&W WATER SERVICE, INC.
	 

	 	ADVANCED COILED TUBING, INC.
	 

	 	BELL
SUPPLY I, L.P.
	 

	 	BIG MAC TANK TRUCKS, LLC
	 

	 	BIG MAC TRUCKING COMPANY, INC.
	 

	 	BSI HOLDINGS MANAGEMENT, LLC
	 

	 	BSI HOLDINGS, LP
	 

	 	CES HOLDINGS LLC
	 

	 	CES MID-CONTINENT HAMM, INC.
	 

	 	CES ROCKIES, INC.
	 

	 	COMPLETE ENERGY SERVICES, LLC
	 

	 	FEMCO SWD, INC.
	 

	 	FUGO SERVICES, LLC
	 

	 	GREASEWOOD, LLC
	 

	 	GUARD DRILLING MUD DISPOSAL, INC.
	 

	 	HAMM & PHILLIPS SERVICE COMPANY, INC.
	 

	 	HAMM MANAGEMENT CO.
	 

	 	HYLAND ENTERPRISES, INC.
	 

	 	I.E. MILLER SERVICES GP, L.L.C.
	 

	 	I.E. MILLER SERVICES LP, L.L.C.
	 

	 	I.E. MILLER SERVICES, L.P.
	 

	 	I.E. MILLER SERVICES, LLC
	 

	 	INTEGRATION PRODUCTION SERVICES, LLC
	 

	 	LEED TOOL CORPORATION
	 

	 	LOYD JONES WELL SERVICE, LLC
	 

	 	MGM WELL SERVICES, INC.
	 

	 	MONUMENT WELL SERVICE CO.
	 

	 	OIL TOOL RENTALS, CO.
	 

	 	PARCHMAN ENERGY GROUP, LLC
	 

	 	PARCHMAN ENERGY MANAGEMENT GP LLC
	 

	 	PARCHMAN ENERGY PARTNERSHIP LP LLC
	 

	 	PARCHMAN OPERATING CO., LP
	 

	 	PRICE PIPELINE CONSTRUCTION, LTD.
	 

	 	PUMPCO ENERGY SERVICES, L.P.
	 

	 	PUMPCO SERVICES GP, L.L.C.
	 

	 	PUMPCO SERVICES LP, L.L.C.
	 

	 	PUMPCO SERVICES, INC.
	 

	 	R&W RENTAL, INC.
	 

	 	RED
RIVER WELL SERVICE, LTD.
	 

	 	RIGMOVERS, CO.

S-3

 

	 	 	 
	 

	 	ROUSTABOUT SPECIALTIES, INC.
	 

	 	SCIENTIFIC MICROSYSTEMS, INC.
	 

	 	SERVICIOS HOLDINGS I, INC.
	 

	 	SERVICIOS HOLDINGS II, INC.
	 

	 	SHALE
TANK TRUCK, LP
	 

	 	STRIDE WELL SERVICE COMPANY, INC.
	 

	 	SWEETWATER PRODUCED WATER DISPOSAL, LLC
	 

	 	T.
& J. ENERGY, LLC
	 

	 	THE
ROSEL COMPANY
	 

	 	TURNER ENERGY SERVICES, LLC
	 

	 	TURNER ENERGY SWD, LLC
	 

	 	VALLEY C.T. MANAGEMENT, LC

	 	 	 	 	 
	 	 	 
	 	By:  	/s/
J. Michael Mayer	 
	 	 	Name:  	J. Michael Mayer	 
	 	 	Title:  	Authorized Person	 
	 

S-4

 

EXHIBIT A

[FORM OF NOTE]

(Face of Note)

COMPLETE PRODUCTION SERVICES, INC.

8% Senior Notes due 2016

CUSIP                    

			
	 	 	 
	No.                     
	 	$                    

COMPLETE PRODUCTION SERVICES, INC. promises to pay to [___] or registered assigns, the
principal sum of [$___] [or such other amount as is set forth in the Schedule of Exchanging of
Interests in the Global Note attached to this Security] on December 15, 2016.

Interest Payment Dates: June 15 and December 15, commencing June 15, 2007.

Record Dates: June 1 and December 1.

Reference is made to the further provisions of this Note on the reverse hereof.

	 	 	 	 	 
	 	COMPLETE PRODUCTION SERVICES, INC.

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

A-1

 

This is one of the Global

Notes referred to in the

within-mentioned Indenture

WELLS FARGO BANK, NATIONAL ASSOCATION, as Trustee

	 	 	 
	By:
	 	 
	 

	 	 
	 

	 	Authorized Signatory

Dated: ___________________

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(Back of Note)

COMPLETE PRODUCTION SERVICES, INC.

8% Senior Notes due 2016

[Insert the Global Notes Legend, if applicable pursuant to the provisions of the Indenture.]

[Insert the Private Placement Legend, if applicable pursuant to the provisions of the Indenture.]

     Capitalized terms used herein shall have the meanings assigned to them in the Indenture
referred to below unless otherwise indicated.

     1. Interest. Complete Production Services, Inc., a Delaware corporation (the
“Company”), promises to pay interest on the principal amount of this Note at 8% per annum until
maturity and shall pay additional interest, if any, payable pursuant to Section 6 of the
Registration Rights Agreement referred to below. The Company shall pay interest and additional
interest, if any, semi-annually on June 15 and December 15 of each year, or if any such day is not
a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”), provided,
that the first Interest Payment Date shall be June 15, 2007. Interest on the Notes shall accrue
from the most recent date to which interest has been paid or, if no interest has been paid, from
and including December 6, 2006; provided, however, that if there is no existing Default in the
payment of interest, and if this Note is authenticated between a record date referred to on the
face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next
succeeding Interest Payment Date. The Company shall pay interest (including post-petition interest
in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to
time on demand at the rate then in effect on the Notes to the extent lawful; it shall pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue
installments of interest and Liquidated Damages, if any (without regard to any applicable grace
periods), from time to time on demand at the same rate to the extent lawful. Interest shall be
computed on the basis of a 360-day year of twelve 30-day months.

     2. Method of Payment. The Company shall pay principal, premium, if any, interest and
Liquidated Damages, if any, on the Notes to the Persons who are registered Holders of Notes at the
close of business on June 1 or December 1 next preceding the Interest Payment Date, even if such
Notes are cancelled after such record date and on or before such Interest Payment Date, except as
provided in Section 2.11 of the Indenture with respect to defaulted interest. The Notes shall be
payable by wire transfer of immediately available funds to the registered Holder of the relevant
Global Note and, with respect to certificated Notes, by wire transfer of immediately available
funds in accordance with instructions provided by the registered holders of certificated Notes or,
if no such instructions are specified, by mailing a check to each such Holder’s registered address.
Such payment shall be in such coin or currency of the United States of America as at the time of
payment is legal tender for payment of public and private debts.

     3. Paying Agent and Registrar. Initially, Wells Fargo Bank, National Assocation, the
Trustee under the Indenture, shall act as Paying Agent and Registrar. The Company may

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change any Paying Agent or Registrar without notice to any Holder. The Company or any of its
Subsidiaries may act in any such capacity.

     4. Indenture. The Company issued the Notes under an Indenture dated as of December 6,
2006 (“Indenture”) among the Company, the Trustee and the Guarantors identified therein. All
defined terms used but not defined in this Note have the meanings specified therefor in the
Indenture. The terms of the Notes include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb), as amended.
The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for
a statement of such terms. To the extent any provision of this Note conflicts with the express
provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The
Company may issue Additional Notes under the Indenture subject to compliance with Section 4.09
thereof, unlimited in aggregate principal amount.

     5. Optional Redemption. The Company may redeem any or all of the Notes at
any time on or after December 15, 2011, upon not less than 30 nor more than 60 days’ prior notice
in amounts of $2,000 or an integral multiple of $1,000 at the redemption prices (expressed as a
percentage of the principal amount) set forth below, if redeemed during the 12-month period
beginning December 15 of the years indicated below:

	 	 	 	 	 
	Year	 	Redemption Price	 
	 
	2011
	 	104.000%	 
	2012
	 	102.667%	 
	2013
	 	101.333%	 
	2014 and thereafter
	 	100.000%	 

in each case together with accrued and unpaid interest to the date of redemption.

     At any time prior to December 15, 2011, the Company may, at its option, redeem the Notes in
whole or in part, at a redemption price equal to 100% of the principal amount thereof plus the
Applicable Premium as of, and accrued and unpaid interest to, the date of redemption.

     6. Optional Redemption Upon Qualified Equity
Offering. From time to time, on or prior to December 15, 2009, the Company may at its
option, use the net cash proceeds of one or more Qualified Equity Offerings to redeem the Notes at
108.000% of their principal amount plus accrued and unpaid interest to the applicable redemption
date; provided that (a) the redemption is completed within 90 days of the completion of the
Qualified Equity Offering and (b) at least 65% of the principal amount of the Notes originally
issued under the Indenture are outstanding immediately following the redemption.

     7. Mandatory Redemption. Except as set forth in paragraph 8 below, the
Company shall not be required to make mandatory redemption payments with respect to the Notes.

     8. Repurchase at Option of Holder.

     (a) Upon the occurrence of a Change of Control, each Holder will have the right to require the
Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000) of that
Holder’s Notes pursuant to a change of control offer (a “Change of Control

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Offer”) on the terms set
forth in the Indenture. In a Change of Control Offer, the Company will
offer a change of control payment in cash equal to 101% of the aggregate principal amount of
the Notes or portion of Notes validly tendered for payment, plus accrued and unpaid interest on
Notes repurchased to the date fixed for repurchase.

     (b) If the Company or any of its Restricted Subsidiaries consummates any Asset Sales, when the
aggregate amount of Excess Proceeds exceeds $25.0 million, the Company will make an offer to all
Holders to purchase for cash that amount of Notes that may be purchased out of the Excess Proceeds
at a purchase price equal to 100% of the principal amount of the Note plus accrued and unpaid
interest to the date of purchase, all on terms provided for in the Indenture.

     9. Notice of Redemption. Notice of redemption shall be mailed at
least 30 days but not more than 60 days before any optional redemption date to each Holder whose
Notes are to be redeemed at its registered address. Notes and portions of Notes selected shall be
in amounts of $2,000 or whole multiples of $1,000; except that if all of the Notes of a Holder are
to be redeemed, the entire outstanding amount of Notes held by such Holder, even if not a multiple
of $1,000, shall be redeemed. On and after the redemption date interest ceases to accrue on Notes,
or portions thereof called for redemption.

     10. Denominations, Transfer, Exchange. The Notes are in registered
form without coupons in denominations of $2,000 and integral multiples of $1,000. The transfer of
Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and
the Trustee may require a Holder, among other things, to furnish appropriate endorsements and
transfer documents and the Company may require a Holder to pay any taxes and fees required by law
or permitted by the Indenture. The Registrar shall not be required to register the transfer of or
exchange any Note selected for redemption in whole or in part except the unredeemed portion of any
Note being redeemed in part. The Company shall not be required (i) to issue, to register the
transfer of or to exchange any Notes during a period beginning at the opening of business 15 days
before the day of any selection of Notes for redemption under Section 3.02 of the Indenture and
ending at the close of business on the day of selection; (ii) to register the transfer of or to
exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of
any Note being redeemed in part; or (iii) to register the transfer of or to exchange a Note between
a record date and the next succeeding interest payment date.

     11. Persons Deemed Owners. The registered Holder of a Note may be
treated as its owner for all purposes.

     12. Amendment, Supplement and Waiver. Subject to certain
exceptions, the Indenture or the Notes may be amended or supplemented with the consent of the
Holders of at least a majority in principal amount of the then outstanding Notes voting as a single
class, and certain existing defaults or compliance with any provision of the Indenture or the Notes
may be waived with the consent of the Holders of a majority in principal amount of the then
outstanding Notes voting as a single class. Without the consent of any Holder of a Note, the
Indenture or the Notes may be amended or supplemented to cure any ambiguity, defect or
inconsistency; to provide for uncertificated Notes in addition to or in place of certificated
Notes; to provide for the assumption of the Company’s obligations to the Holders of the Notes by a
successor to the

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Company pursuant to Article 5 of the Indenture; to make any change that could
provide any additional rights or benefits to the Holders of the Notes or that does not materially
adversely
affect the legal rights under the Indenture of any Holder; to comply with the requirements of
the SEC in order to effect or maintain the qualification of the Indenture under the TIA; to provide
security for or add guaranties with respect to the Notes; or to conform the Indenture or the Notes
to any provision of the “Description of Notes” included in the offering circular dated November 29,
2006, relating to the Offering.

     13. Remedies for Events of Default.

     If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25%
of principal amount of Notes then outstanding may declare all the Notes to be due and payable
immediately. Notwithstanding the foregoing sentence, in the case of an Event of Default arising
from certain events of bankruptcy or insolvency, as provided in the Indenture, all outstanding
Notes will become due and payable immediately without further action or notice. Holders may not
enforce the Indenture or the Notes except as provided in the Indenture. Subject to limitations,
holders of a majority in principal amount of then-outstanding Notes may direct the Trustee of Notes
in its exercise of any trust or power. The Trustee may withhold from Holders notice of any
continuing Default or Event of Default, except a Default or Event of Default relating to the
payment of principal or interest, if a committee of Responsible Officers of the Trustee determines
in good faith that withholding notice is in the interest of the Holders. At any time after
declaration of acceleration but before a judgment or decree for the payment of the money due has
been obtained by the Trustee, the holders of a majority in aggregate principal amount of Notes then
outstanding by written notice to the Company and the Trustee may waive any existing Default or
Event of Default for all Holders, except a continuing Default or Event of Default in the payment of
any principal of, premium, if any, or interest on the Notes or in respect of a covenant or
provision of the Indenture which cannot be modified or amended without the consent of the Holder of
each outstanding Note affected. The Company is required to deliver to the Trustee annually a
statement regarding compliance with the Indenture. In addition, upon becoming aware of any Default
or Event of Default, the Company is required to deliver to the Trustee a statement specifying the
Default or Event of Default.

     14. Trustee Dealings with Company. The Trustee, in its
individual or any other capacity, may make loans to, accept deposits from, and perform services for
the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it
were not the Trustee.

     15. No Recourse Against Others. No recourse for the
payment of the principal of, premium, if any, or interest or Liquidated Damages, if any, on any of
the Notes, or for any claim based thereon or otherwise in respect thereof, and no recourse under or
upon any obligation, covenant or agreement of the Company or of any Guarantor contained in the
Indenture or in any of the Notes, or because of the creation of any Indebtedness represented
thereby, shall be had against any incorporator or past, present or future director, officer,
employee, controlling person or stockholder of the Company or of any Guarantor. Each Holder by
accepting a Note waives and releases all such liability. The waiver and release are part of the
consideration for the issuance of the Notes.

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     16. Authentication. This Note shall not be valid until authenticated by the manual
signature of the Trustee or an authenticating agent in accordance with the Indenture.

     17. Abbreviations. Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and
U/G/M/A (= Uniform Gifts to Minors Act).

     18. Additional Rights of Holders of
Restricted Global Notes and Restricted
Definitive Notes. In addition to the rights provided to Holders of Notes under
the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes shall have all
the rights set forth in the Registration Rights Agreement dated as of December 6, 2006, between the
parties named on the signature pages thereof, as such agreement may be amended, modified or
supplemented from time to time (the “Registration Rights Agreement”).

     19. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee
on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed
on the Notes and the Trustee shall use CUSIP numbers in notices of redemption as a convenience to
Holders. No representation is made as to the accuracy of such numbers either as printed on the
Notes or as contained in any notice of redemption and reliance may be placed only on the other
identification numbers placed thereon.

     The Company shall furnish to any Holder upon written request and without charge a copy of the
Indenture and/ or the Registration Rights Agreement. Requests may be made to:

Complete Production Services, Inc.

11700 Old Katy Road, Suite 300

Houston, Texas 77079

Facsimile No.: (281) 372-2301

Attention: Chief Financial Officer

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Assignment Form

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to

 

(Insert assignee’s social security or tax I.D. no.)

 

 

 

 

(Print or type assignee’s name, address and zip code)

and irrevocably appoint                                                             to transfer
this Note on the books of the Company. The agent may
substitute another to act for him.

 

Date:                     

	 	 	 
	Your Signature:
	 	 
	 

	 	 
	 
	 	 
	(Sign exactly as your name appears on the face of this Note)
	 
	 	 
	Signature Guarantee:
	 	 
	 

	 	 

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Option of Holder to Elect Purchase

     If you want to elect to have this Note purchased by the Company pursuant to Section 4.15 or
4.16 of the Indenture, check the box below:

     o     Section 4.15         o     Section 4.16

     If you want to elect to have only part of the Note purchased by the Company pursuant to
Section 4.15 or Section 4.16 of the Indenture, state the amount you elect to have purchased:

$                    

Date:                     

	 	 	 
	Your Signature:
	 	 
	 

	 	 
	 
	 	 
	(Sign exactly as your name appears on the Note)
	 
	 	 
	Signature Guarantee:
	 	 
	 

	 	 
	 
	 	 
	Tax Identification No.:
	 	 
	 

	 	 

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SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

     The initial principal amount of this Global Note is [     ] Million Dollars ($[     ]). The following exchanges of a part of this Global Note for an interest in another Global Note or
for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an
interest in this Global Note, resulting in increases or decreases of the principal amount of this
Global Note, have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount of	 	Signature of
	 	 	Amount of	 	Amount of	 	this Global Note	 	authorized
	 	 	decrease in	 	increase in	 	following such	 	officer of
	Date of	 	Principal Amount of	 	Principal Amount of	 	decrease	 	Trustee or
	Exchange	 	this Global Note	 	this Global Note	 	(or increase)	 	Custodian
	 
	 	 	 	 	 	 	 	 

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EXHIBIT B

FORM OF CERTIFICATE OF TRANSFER

Complete Production Services, Inc.

11700 Old Katy Road, Suite 300

Houston, Texas 77079

Facsimile No.: (281) 372-2301

Attention: Chief Financial Officer

Wells Fargo Bank, National Association

1445 Ross Avenue — 2nd Floor

Corporate Trust Services

Dallas, Texas 75202-4086

     Re: 8% Senior Notes due 2016 of Complete Production Services, Inc.

     Reference is hereby made to the Indenture, dated as of December 6, 2006 (the “Indenture”),
between Complete Production Services, Inc., as issuer (the “Company”), the Guarantors named therein
and Wells Fargo Bank, National Association, as Trustee. Capitalized terms used but not defined
herein shall have the meanings given to them in the Indenture.

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

[CHECK ALL THAT APPLY]

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

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on transfer enumerated in the
Private Placement Legend printed on the 144A Global Note or the Definitive Note and in the
Indenture and the Securities Act.

2. o Check if Transferee shall take delivery of a beneficial interest in the
Regulation S Global Note or a Definitive Note pursuant to Regulation S. The Transfer is being
effected pursuant to and in accordance with Rule 904 under the Securities Act and, accordingly, the
Transferor hereby further certifies that (i) the Transfer is not being made to a person in the
United States and (x) at the time the buy order was originated, the Transferee was outside the
United States or such Transferor and any person acting on its behalf reasonably believed and
believes that the Transferee was outside the United States or (y) the transaction was executed in,
on or through the facilities of a designated offshore securities market and neither such Transferor
nor any person acting on its behalf knows that the transaction was prearranged with a buyer in the
United States, (ii) no directed selling efforts have been made in contravention of the requirements
of Rule 904 (b) of Regulation S under the Securities Act, (iii) the transaction is not part of a
plan or scheme to evade the registration requirements of the Securities Act and (iv) if the
proposed transfer is being made prior to the expiration of the Restricted Period, the transfer is
not being made to a U.S. person or for the account or benefit of a U.S. person (other than an
Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the
Indenture, the transferred beneficial interest or Definitive Note shall be subject to the
restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S
Global Note and/or the Definitive Note and in the Indenture and the Securities Act.

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

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

or

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

or

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

or

     (d) such Transfer is being effected to an Institutional Accredited Investor and pursuant to
an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule
144 or Rule 904, and the Transferor hereby further certifies that it has not engaged in any

B-2

 

general
solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies
with the transfer restrictions applicable to beneficial interests in a Restricted Global Note or
Restricted Definitive Notes and the requirements of the exemption claimed, which certification is
supported by (1) a certificate executed by the Transferee in the form of Exhibit D
to the Indenture, and (2) an Opinion of Counsel provided by the Transferor or the Transferee
(a copy of which the Transferor has attached to this certification), to the effect that such
Transfer is in compliance with the Securities Act. Upon consummation of the proposed transfer in
accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note
shall be subject to the restrictions on transfer enumerated in the Private Placement Legend printed
on the Definitive Notes and in the Indenture and the Securities Act.

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

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

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

     o Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being
effected pursuant to and in compliance with an exemption from the registration requirements of the
Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any State of
the United States and (ii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the Securities Act. Upon
consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note shall not be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes or
Restricted Definitive Notes and in the Indenture.

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

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	[Insert Name of Transferor]
	By:
	 	 
	 

	 	 
	 

	 	Name:
	 

	 	Title:

Dated:                     ,                     

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ANNEX A TO CERTIFICATE OF TRANSFER

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

[CHECK ONE]

	(a)	 	o       a beneficial interest in the:

	 	(i)	 	o       144A Global Note (CUSIP                     ), or
	 
	 	(ii)	 	o       Regulation S Global Note (CUSIP                    ), or

	(b)	 	o       a Restricted Definitive Note.

	2.	 	After the Transfer the Transferee shall hold:

[CHECK ONE]

	(a)	 	o       a beneficial interest in the:

	 	(i)	 	o       144A Global Note (CUSIP                     ), or
	 
	 	(ii)	 	o       Regulation S Global Note (CUSIP                     ), or
	 
	 	(iii)	 	o       Unrestricted Global Note (CUSIP                     ); or

	(b)	 	o       a Restricted Definitive Note; or
	 
	(c)	 	o       Unrestricted Definitive Note,

in accordance with the terms of the Indenture.

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EXHIBIT C

FORM OF CERTIFICATE OF EXCHANGE

Complete Production Services, Inc.

11700 Old Katy Road, Suite 300

Houston, Texas 77079

Facsimile No.: (281) 372-2301

Attention: Chief Financial Officer

Wells Fargo Bank, National Association

1445 Ross Avenue — 2nd Floor

Corporate Trust Services

Dallas, Texas 75202-2812

     Re: 8% Senior Notes due 2016 of Complete Production Services, Inc.

(CUSIP
______ )

     Reference is hereby made to the Indenture, dated as of December 6, 2006 (the “Indenture”),
between Complete Production Services, Inc., as issuer (the “Company”), the Guarantors named therein
and Wells Fargo Bank, National Assocation, as trustee. Capitalized terms used but not defined
herein shall have the meanings given to them in the Indenture.

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

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

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

     (b) o Check if Exchange is from Restricted Definitive Note to Unrestricted
Definitive Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an
Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is
being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected
in compliance with the transfer restrictions applicable to Restricted Definitive Notes and

C-1

 

pursuant
to and in accordance with the Securities Act, (iii) the restrictions on transfer contained
in the Indenture and the Private Placement Legend are not required in order to maintain
compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in
compliance with any applicable blue sky securities laws of any state of the United States.

	 	 	 
	 
	[Insert Name of Owner]

	 	 	 
	By:
	 	 
	 

	 	 
	 

	 	Name:
	 

	 	Title:

Dated:                     ,                     

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EXHIBIT D

FORM OF CERTIFICATE FROM

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

Complete Production Services, Inc.

11700 Old Katy Road, Suite 300

Houston, Texas 77079

Facsimile No.: (281) 372 2301

Attention: Chief Financial Officer

Wells Fargo Bank, National Association

1445 Ross Avenue — 2nd Floor

Corporate Trust Services

Dallas, Texas 75202-2812

     Re: 8% Senior Notes due 2016

     Reference is hereby made to the Indenture, dated as of December 6, 2006 (the “Indenture”), by
and between Complete Production Services, Inc. as issuer (the “Company”), the Guarantors named
therein and Wells Fargo Bank, National Association., as trustee. Capitalized terms used but not
defined herein shall have the meanings given to them in the Indenture.

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

	 	(a)	 	o       a beneficial interest in a Global Note, or
	 
	 	(b)	 	o       a Definitive Note,

we confirm that:

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

     2. We understand that the offer and sale of the Notes have not been registered under the
Securities Act, and that the Notes and any interest therein may not be offered or sold except as
permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for
which we are acting as hereinafter stated, that if we should sell the Notes or any interest
therein, we will do so only (A) to the Company or any subsidiary thereof, (B) in accordance with
Rule 144A under the Securities Act to a “qualified institutional buyer” (as defined therein), (C)

D-1

 

to an institutional “accredited investor” (as defined below) that, prior to such transfer,
furnishes
(or has furnished on its behalf by a U.S. broker-dealer) to you and to the Company a signed
letter substantially in the form of this letter, (D) outside the United States in accordance with
Rule 904 of Regulation S under the Securities Act, (E) pursuant to the provisions of Rule 144(k)
under the Securities Act or (F) pursuant to an effective registration statement under the
Securities Act, and we further agree to provide to any person purchasing the Definitive Note or
beneficial interest in a Global Note from the Company in a transaction meeting the requirements of
clauses (A) through (E) of this paragraph a notice advising such purchaser that resales thereof are
restricted as stated herein.

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

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

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

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

	 	 	 
	 
	[Insert Name of Accredited Investor]

	 	 	 
	By:
	 	 
	 

	 	 
	 

	 	Name:
	 

	 	Title:

Dated:                     ,                     

D-2

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