Document:

Exhibit 10.1

 

***SAMPLE***

 

STOCK
PURCHASE AND OPTION AGREEMENT

 

	
  $10,000

  	
  Date:

  	
   

  

 

FOR VALUE RECEIVED,
KENILWORTH SYSTEMS CORPORATION (“Kenilworth” or the “Company”), a New York
Corporation with offices at 185 Willis Avenue, Mineola, New York 11501 and

 

 

Residing at
                                                          (the
“Purchaser”), hereby acquires and the Company hereby sells one million two
hundred fifty thousand (1,250,000) shares of Kenilworth restricted Common Stock, par value $0.01
per share, together with an Option to acquire an additional one million two
hundred fifty thousand (1,250,000) restricted Common Shares at the exercise
price of nine tenths and six one hundredths of a cent ($0.0096) in
consideration of the payment of TEN THOUSAND DOLLARS ($10,000).

 

The Option Grant is for a
period of two (2) years from the date hereof and may be exercised at any
time during the Option period in groupings of not less than two hundred
thousand (200,000) shares each, by notifying the Company and remitting payment
for the shares.  The holding period for the Optioned Shares commences when
the funds for the Shares are received.  The issuance and the delivery of
the shares and the Option Shares may require up to three (3) weeks.

 

Kenilworth represents the
restrictive legends on the stock certificates may be removed by an exemption
available in SEC Regulation 144 B, after the Purchaser’s ownership of the
shares for a minimum period of six (6) months.

 

 

	
   

  	
   

  	
  Kenilworth
  Systems Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Herbert Lindo, Chairman
  and CEO

  
	
  Attesting to Mr. Lindo’s
  Signature Only:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Maureen Plovnick,
  Assistant to Mr. Lindo

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  In the event of
  exercising Optioned Shares, the Purchaser agrees to accept the shares for
  investment and consents to the endorsement on said shares of an appropriate
  restrictive legend.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Purchaser

  	
   

  	
   

  

 

1Exhibit 4.14

 

SATCON TECHNOLOGY CORPORATION,

as Issuer,

 

and

 

 

                                            ,

as Trustee

 

 

INDENTURE

 

 

Dated as of
                    ,
20

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  ARTICLE ONE DEFINITIONS
  AND INCORPORATION BY REFERENCE

  	
  1

  
	
   

  	
   

  	
   

  
	
  Section 1.01.

  	
  Definitions

  	
  1

  
	
  Section 1.02.

  	
  Other Definitions

  	
  6

  
	
  Section 1.03.

  	
  Incorporation by Reference of Trust Indenture Act

  	
  6

  
	
  Section 1.04.

  	
  Rules of Construction

  	
  7

  
	
   

  	
   

  	
   

  
	
  ARTICLE TWO THE SECURITIES

  	
  7

  
	
   

  	
   

  	
   

  
	
  Section 2.01.

  	
  Issuable in Series

  	
  7

  
	
  Section 2.02.

  	
  Establishment of Terms of Series of Securities

  	
  7

  
	
  Section 2.03.

  	
  Execution and Authentication

  	
  9

  
	
  Section 2.04.

  	
  Registrar and Paying Agent

  	
  10

  
	
  Section 2.05.

  	
  Paying Agent to Hold Assets in Trust

  	
  10

  
	
  Section 2.06.

  	
  Holder Lists

  	
  11

  
	
  Section 2.07.

  	
  Transfer and Exchange

  	
  11

  
	
  Section 2.08.

  	
  Replacement Securities

  	
  11

  
	
  Section 2.09.

  	
  Outstanding Securities

  	
  12

  
	
  Section 2.10.

  	
  Treasury Securities

  	
  12

  
	
  Section 2.11.

  	
  Temporary Securities

  	
  12

  
	
  Section 2.12.

  	
  Cancellation

  	
  13

  
	
  Section 2.13.

  	
  Defaulted Interest

  	
  13

  
	
  Section 2.14.

  	
  Global Securities

  	
  13

  
	
  Section 2.15.

  	
  CUSIP and ISIN Numbers

  	
  14

  
	
   

  	
   

  	
   

  
	
  ARTICLE THREE REDEMPTION

  	
  14

  
	
   

  	
   

  	
   

  
	
  Section 3.01.

  	
  Notices to Trustee

  	
  14

  
	
  Section 3.02.

  	
  Selection of Securities to be Redeemed

  	
  14

  
	
  Section 3.03.

  	
  Notice of Redemption

  	
  15

  
	
  Section 3.04.

  	
  Effect of Notice of Redemption

  	
  15

  
	
  Section 3.05.

  	
  Deposit of Redemption Price

  	
  15

  
	
  Section 3.06.

  	
  Securities Redeemed in Part

  	
  15

  
	
   

  	
   

  	
   

  
	
  ARTICLE FOUR COVENANTS

  	
  16

  
	
   

  	
   

  	
   

  
	
  Section 4.01.

  	
  Payment of Principal and Interest

  	
  16

  
	
  Section 4.02.

  	
  Maintenance of Office or Agency

  	
  16

  
	
  Section 4.03.

  	
  Corporate Existence

  	
  16

  
	
  Section 4.04.

  	
  Compliance Certificate

  	
  16

  
	
  Section 4.05.

  	
  Waiver of Stay, Extension or Usury Laws

  	
  17

  
	
  Section 4.06.

  	
  SEC Reports

  	
  17

  
	
   

  	
   

  	
   

  
	
  ARTICLE FIVE SUCCESSOR
  CORPORATION

  	
  17

  
	
   

  	
   

  	
   

  
	
  Section 5.01.

  	
  Merger, Consolidation, or Sale of Assets

  	
  17

  
	
   

  	
   

  	
   

  
	
  ARTICLE SIX DEFAULT AND
  REMEDIES

  	
  18

  
	
   

  	
   

  	
   

  
	
  Section 6.01.

  	
  Events of Default

  	
  18

  

 

i

 

	
  Section 6.02.

  	
  Acceleration

  	
  19

  
	
  Section 6.03.

  	
  Other Remedies

  	
  20

  
	
  Section 6.04.

  	
  Waiver of Past Defaults

  	
  20

  
	
  Section 6.05.

  	
  Control by Majority

  	
  20

  
	
  Section 6.06.

  	
  Limitation on Suits

  	
  20

  
	
  Section 6.07.

  	
  Rights of Holders to Receive Payment

  	
  21

  
	
  Section 6.08.

  	
  Collection Suit by Trustee

  	
  21

  
	
  Section 6.09.

  	
  Trustee May File Proofs of Claim

  	
  21

  
	
  Section 6.10.

  	
  Priorities

  	
  21

  
	
  Section 6.11.

  	
  Undertaking for Costs

  	
  22

  
	
   

  	
   

  	
   

  
	
  ARTICLE SEVEN TRUSTEE

  	
  22

  
	
   

  	
   

  	
   

  
	
  Section 7.01.

  	
  Duties of Trustee

  	
  22

  
	
  Section 7.02.

  	
  Rights of Trustee

  	
  23

  
	
  Section 7.03.

  	
  Individual Rights of Trustee

  	
  24

  
	
  Section 7.04.

  	
  Trustee’s Disclaimer

  	
  24

  
	
  Section 7.05.

  	
  Notice of Default

  	
  24

  
	
  Section 7.06.

  	
  Reports by Trustee to Holders

  	
  24

  
	
  Section 7.07.

  	
  Compensation and Indemnity

  	
  24

  
	
  Section 7.08.

  	
  Replacement of Trustee

  	
  25

  
	
  Section 7.09.

  	
  Successor Trustee by Merger, Etc.

  	
  26

  
	
  Section 7.10.

  	
  Eligibility; Disqualification

  	
  26

  
	
  Section 7.11.

  	
  Preferential Collection of Claims Against the Issuer

  	
  26

  
	
   

  	
   

  	
   

  
	
  ARTICLE EIGHT DISCHARGE OF
  INDENTURE; DEFEASANCE

  	
  26

  
	
   

  	
   

  	
   

  
	
  Section 8.01.

  	
  Termination of the Issuer’s Obligations

  	
  26

  
	
  Section 8.02.

  	
  Legal Defeasance and Covenant Defeasance

  	
  27

  
	
  Section 8.03.

  	
  Conditions to Legal Defeasance or Covenant Defeasance

  	
  28

  
	
  Section 8.04.

  	
  Application of Trust Money

  	
  29

  
	
  Section 8.05.

  	
  Repayment to the Issuer

  	
  29

  
	
  Section 8.06.

  	
  Reinstatement

  	
  30

  
	
   

  	
   

  	
   

  
	
  ARTICLE NINE AMENDMENTS,
  SUPPLEMENTS AND WAIVERS

  	
  30

  
	
   

  	
   

  	
   

  
	
  Section 9.01.

  	
  Without Consent of Holders

  	
  30

  
	
  Section 9.02.

  	
  With Consent of Holders

  	
  31

  
	
  Section 9.03.

  	
  Compliance with the Trust Indenture Act

  	
  32

  
	
  Section 9.04.

  	
  Revocation and Effect of Consents

  	
  32

  
	
  Section 9.05.

  	
  Notation on or Exchange of Securities

  	
  32

  
	
  Section 9.06.

  	
  Trustee To Sign Amendments, Etc.

  	
  32

  
	
  Section 9.07.

  	
  Trustee Protected

  	
  33

  
	
   

  	
   

  	
   

  
	
  ARTICLE TEN MISCELLANEOUS

  	
  33

  
	
   

  	
   

  	
   

  
	
  Section 10.01.

  	
  Trust Indenture Act Controls

  	
  33

  
	
  Section 10.02.

  	
  Notices

  	
  33

  
	
  Section 10.03.

  	
  Communications by Holders with Other Holders

  	
  34

  
	
  Section 10.04.

  	
  Certificate and Opinion as to Conditions Precedent

  	
  34

  
	
  Section 10.05.

  	
  Statements Required in Certificate or Opinion

  	
  34

  
	
  Section 10.06.

  	
  Rules by Trustee and Agents

  	
  35

  
	
  Section 10.07.

  	
  Legal Holidays

  	
  35

  
	
  Section 10.08.

  	
  Governing Laws

  	
  35

  
	
  Section 10.09.

  	
  No Adverse Interpretation of Other Agreements

  	
  35

  
	
  Section 10.10.

  	
  No Recourse Against Others

  	
  35

  

 

ii

 

	
  Section 10.11.

  	
  Successors

  	
  35

  
	
  Section 10.12.

  	
  Duplicate Originals

  	
  35

  
	
  Section 10.13.

  	
  Severability

  	
  36

  
	
  Section 10.14.

  	
  Securities in a Foreign Currency or in ECU

  	
  36

  
	
  Section 10.15.

  	
  Judgment Currency

  	
  36

  
	
   

  	
   

  	
   

  
	
  ARTICLE ELEVEN SINKING
  FUNDS

  	
  37

  
	
   

  	
   

  	
   

  
	
  Section 11.01.

  	
  Applicability of Article

  	
  37

  
	
  Section 11.02.

  	
  Satisfaction of Sinking Fund Payments with Securities

  	
  37

  
	
  Section 11.03.

  	
  Redemption of Securities for Sinking Fund

  	
  37

  

 

iii

 

CROSS-REFERENCE TABLE

 

	
  Trust
  Indenture Act Section

  	
   

  	
  Indenture Section

  
	
  § 310(a)(1)

  	
   

  	
   

  	
  7.10

  
	
  (a)(2)

  	
   

  	
   

  	
  7.10

  
	
  (a)(3)

  	
   

  	
   

  	
  Not Applicable

  
	
  (a)(4)

  	
   

  	
   

  	
  Not Applicable

  
	
  (a)(5)

  	
   

  	
   

  	
  7.10

  
	
  (b)

  	
   

  	
   

  	
  7.10

  
	
  (c)

  	
   

  	
   

  	
  Not Applicable

  
	
  § 311(a)

  	
   

  	
   

  	
  7.11

  
	
  (b)

  	
   

  	
   

  	
  7.11

  
	
  (c)

  	
   

  	
   

  	
  Not Applicable

  
	
  § 312(a)

  	
   

  	
   

  	
  2.06

  
	
  (b)

  	
   

  	
   

  	
  10.03

  
	
  (c)

  	
   

  	
   

  	
  10.03

  
	
  § 313(a)

  	
   

  	
   

  	
  7.06

  
	
  (b)

  	
   

  	
   

  	
  7.06

  
	
  (c)

  	
   

  	
   

  	
  7.06

  
	
  (d)

  	
   

  	
   

  	
  7.06

  
	
  § 314(a)

  	
   

  	
   

  	
  4.04, 4.06; 10.05

  
	
  (b)

  	
   

  	
   

  	
  Not Applicable

  
	
  (c)(1)

  	
   

  	
   

  	
  10.04

  
	
  (c)(2)

  	
   

  	
   

  	
  10.04

  
	
  (c)(3)

  	
   

  	
   

  	
  Not Applicable

  
	
  (d)

  	
   

  	
   

  	
  Not Applicable

  
	
  (e)

  	
   

  	
   

  	
  10.05

  
	
  (f)

  	
   

  	
   

  	
  Not Applicable

  
	
  § 315(a)

  	
   

  	
   

  	
  7.01

  
	
  (b)

  	
   

  	
   

  	
  7.05

  
	
  (c)

  	
   

  	
   

  	
  7.01

  
	
  (d)

  	
   

  	
   

  	
  7.01

  
	
  (e)

  	
   

  	
   

  	
  6.11

  
	
  §316(a)(1)(A)

  	
   

  	
   

  	
  6.05

  
	
  (a)(1)(B)

  	
   

  	
   

  	
  6.04

  
	
  (a)(2)

  	
   

  	
   

  	
  Not Applicable

  
	
  (a)(last sentence)

  	
   

  	
   

  	
  2.10

  
	
  (b)

  	
   

  	
   

  	
  6.07

  
	
  (c)

  	
   

  	
   

  	
  9.04

  
	
  §317(a)(1)

  	
   

  	
   

  	
  6.08

  
	
  (a)(2)

  	
   

  	
   

  	
  6.09

  
	
  (b)

  	
   

  	
   

  	
  2.05

  
	
  § 318(a)

  	
   

  	
   

  	
  10.01

  

 

Note:                   This Cross-Reference Table
shall not, for any purpose, be deemed to be a part of this Indenture.

 

iv

 

INDENTURE dated as of
                              ,
20       between Satcon Technology Corporation, a
Delaware corporation, as Issuer (the “Issuer”), and
                                                ,
as trustee (the “Trustee”).

 

THIS
INDENTURE WITNESSETH

 

Each party agrees as follows
for the benefit of the other party and for the equal and ratable benefit of the
Holders of the Securities issued under this Indenture:

 

ARTICLE
ONE

 

DEFINITIONS
AND INCORPORATION BY REFERENCE

 

Section 1.01.          Definitions.

 

Set forth below are certain
defined terms used in this Indenture.

 

“Additional
Amounts” means any additional amounts which are required hereby or
by any Security, under circumstances specified herein or therein, to be paid by
the Issuer in respect of certain taxes imposed on Holders specified herein or
therein and which are owing to such Holders.

 

“Affiliate”
of any Person means any other Person which directly or indirectly controls or
is controlled by, or is under direct or indirect common control with, the
referent Person. For purposes of this definition, “control”
of a Person shall mean the power to direct the management and policies of such
Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise, and “controlling,” “controlled by,” and “under common control”
shall have correlative meanings.

 

“Agent”
means any Registrar, Paying Agent or Service Agent.

 

“amend”
means to amend, supplement, restate, amend and restate or otherwise modify; and
“amendment” shall have a correlative
meaning.

 

“asset”
means any asset or property.

 

“Attributable
Indebtedness,” when used with respect to any Sale and Leaseback
Transaction, means, as at the time of determination, the present value
(discounted at a rate equivalent to the Issuer’s then-current weighted average
cost of funds for borrowed money as at the time of determination, compounded on
a semi-annual basis) of the total obligations of the lessee for rental payments
during the remaining term of the lease included in any such Sale and Leaseback
Transaction.

 

“Authorized
Newspaper” means a newspaper in an official language of the country
of publication customarily published at least once a day for at least five (5) days
in each calendar week and of general circulation in the place in connection
with which the term is used. If it shall be impractical in the opinion of the
Trustee to make any publication of any notice required hereby in an Authorized
Newspaper, any publication or other notice in lieu thereof that is made or
given by the Trustee shall constitute a sufficient publication of such notice.

 

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

 

“Bearer
Security” means any Security, including any interest coupon
appertaining thereto, that does not provide for the identification of the
Holder thereof.

 

“Board of
Directors” shall mean, with respect to any Person, (i) in the
case of any corporation, the board of directors of such Person, (ii) in
the case of any limited liability company, the board of managers of such
Person, (iii) in the case of any partnership, the Board of Directors of
the general partner of such Person, and (iv) in any other case, the
functional equivalent of the foregoing.

 

 

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

 

“Business Day”
means, unless otherwise provided by a Board Resolution, a supplemental
indenture hereto or an Officers’ Certificate for a particular Series of
Securities, a day other than a Saturday, Sunday or other day on which banking
institutions in the City of New York, New York are authorized or required by
law to close.

 

“Capitalized
Lease” means a lease required to be capitalized for financial
reporting purposes in accordance with GAAP.

 

“Capitalized
Lease Obligations” of any Person means the obligations of such
Person to pay rent or other amounts under a Capitalized Lease, and the amount
of such obligations shall be the capitalized amount thereof determined in
accordance with GAAP.

 

“Corporate
Trust Office” means the corporate trust office of the Trustee
located at                                         , or
such other office, designated by the Trustee by written notice to the Issuer,
at which at any particular time its corporate trust business shall be
administered.

 

“Custodian”
means any receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law.

 

“Default”
means (1) any Event of Default or (2) any event, act or condition
that, after notice or the passage of time or both, would be an Event of
Default.

 

“Depository”
means, with respect to the Securities of any Series issuable or issued in
whole or in part in the form of one or more Global Securities, the Person
designated as Depository for such Series by the Issuer, which Depository
shall be a clearing agency registered under the Exchange Act, and if at any
time there is more than one such Person, “Depository” as
used with respect to the Securities of any Series shall mean the Depository
with respect to the Securities of such Series.

 

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

 

“Dollars”
and “$” means the currency of The United
States of America.

 

“ECU”
means the European Currency Unit as determined by the Commission of the
European Union.

 

“Equity
Interests” of any Person means (1) any and all shares or other
equity interests (including common stock, preferred stock, limited liability
company interests and partnership interests) in such Person and (2) all
rights to purchase, warrants or options (whether or not currently exercisable),
participations or other equivalents of or interests in (however designated)
such shares or other interests in such Person.

 

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

 

“Fair Market
Value” means, with respect to any asset, the price (after taking
into account any liabilities relating to such assets) that would be negotiated
in an arm’s-length transaction for cash between a willing seller and a willing
and able buyer, neither of which is under any compulsion to complete the
transaction, as such price is determined in good faith by the Board of
Directors of the Issuer or a duly authorized committee thereof, as evidenced by
a resolution of such Board of Directors or committee.

 

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

 

2

 

“GAAP”
means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board or in such other statements by such other entity as
may be approved by a significant segment of the accounting profession of the
United States, as in effect from time to time, unless otherwise provided for in
a particular Series of Securities by a Board Resolution, a supplemental
indenture hereto or an Officers’ Certificate.

 

“Global
Security” or “Global Securities”
means a Security or Securities, as the case may be, in the form established
pursuant to Section 2.02 evidencing all or part of a Series of
Securities, issued to the Depository for such Series or its nominee, and
registered in the name of such Depository or nominee.

 

“guarantee”
means a direct or indirect guarantee by any Person of any Indebtedness of any
other Person and includes any obligation, direct or indirect, contingent or
otherwise, of such Person: (1) to purchase or pay (or advance or supply
funds for the purchase or payment of) Indebtedness of such other Person
(whether arising by virtue of partnership arrangements, or by agreements to
keep-well, to purchase assets, goods, securities or services (unless such
purchase arrangements are on arm’s-length terms and are entered into in the
ordinary course of business), to take-or-pay, or to maintain financial
statement conditions or otherwise); or (2) entered into for purposes of
assuring in any other manner the obligee of such Indebtedness of the payment
thereof or to protect such obligee against loss in respect thereof (in whole or
in part), and “guarantee,” when used as a verb,
and “guaranteed” have correlative meanings.

 

“Hedging
Obligations” of any Person means the obligations of such Person
pursuant to (1) any interest rate swap agreement, interest rate collar
agreement or other similar agreement or arrangement designed to alter the risks
to that Person arising from fluctuations in interest rates, (2) agreements
or arrangements designed to alter the risks to that Person arising from
fluctuations in foreign currency exchange rates in the conduct of its
operations, or (3) any forward contract, commodity swap agreement,
commodity option agreement or other similar agreement or arrangement designed
to protect such Person against fluctuations in commodity prices, in each case
entered into in the ordinary course of business for bona fide hedging purposes
and not for the purpose of speculation.

 

“Holder”
means a Person in whose name a Security is registered or the holder of a Bearer
Security.

 

“incur”
means, with respect to any Indebtedness or Obligation, incur, create, issue,
assume, guarantee or otherwise become directly or indirectly liable,
contingently or otherwise, with respect to such Indebtedness or Obligation.

 

“Indebtedness”
of any Person at any date means, without duplication:

 

(1)           all liabilities, contingent or otherwise, of such Person
for borrowed money (whether or not the recourse of the lender is to the whole
of the assets of such Person or only to a portion thereof);

 

(2)           all obligations of such Person evidenced by bonds,
debentures, notes or other similar instruments;

 

(3)           all reimbursement obligations of such Person in respect of
letters of credit, letters of guaranty, bankers’ acceptances and similar credit
transactions;

 

(4)           all obligations of such Person to pay the deferred and
unpaid purchase price of property or services, except (i) trade payables
and accrued expenses incurred by such Person in the ordinary course of business
in connection with obtaining goods, materials or services and (ii) customary
adjustments of purchase price, contingent payments, earnout payments or similar
obligations of such Person arising under any of the documents pertaining to any
acquisition of any Person or assets or Equity Interests of any Person or any
sale, transfer or other disposition of assets to any Person;

 

(5)           all Capitalized Lease Obligations of such Person;

 

3

 

(6)           all Indebtedness of others secured by a Lien on any asset
of such Person, whether or not such Indebtedness is assumed by such Person;

 

(7)           all Indebtedness of others guaranteed by such Person to
the extent of such guarantee; provided, however, that Indebtedness of the Issuer or its Subsidiaries
that is guaranteed by the Issuer or the Issuer’s Subsidiaries shall only be
counted once in the calculation of the amount of Indebtedness of the Issuer and
its Subsidiaries on a consolidated basis;

 

(8)           all Attributable Indebtedness;

 

(9)           to the extent not otherwise included in this definition,
Hedging Obligations of such Person, determined as the net amount of all
payments that would be required to be made in respect thereof in the event of a
termination (including an early termination) on the date of determination; and

 

(10)         all obligations of such Person under conditional sale or
other title retention agreements relating to assets purchased by such Person.

 

The amount of any
Indebtedness which is incurred at a discount to the principal amount at
maturity thereof as of any date shall be deemed to have been incurred at the
accreted value thereof as of such date. The amount of Indebtedness of any
Person at any date shall be the outstanding balance at such date of all
unconditional obligations as described above, the maximum liability of such
Person for any such contingent obligations at such date and, in the case of
clause (6), the lesser of (a) the Fair Market Value of any asset subject
to a Lien securing the Indebtedness of others on the date that the Lien
attaches and (b) the amount of the Indebtedness secured.

 

“Indenture”
means this Indenture, as amended, supplemented or otherwise modified from time
to time in accordance with the terms hereof, and shall include the form and
terms of particular Series of Securities established as contemplated
hereunder.

 

“interest”
with respect to any Discount Security which by its terms bears interest only
after a Maturity Date, means interest payable after such Maturity Date.

 

“Issuer”
means the party named as such above until a successor replaces it and
thereafter means the successor.

 

“Issuer Order”
means a written order signed in the name of the Issuer by an Officer, who must
be the Issuer’s principal executive officer, principal financial officer or
principal accounting officer.

 

“Lien”
means, with respect to any asset, any mortgage, deed of trust, lien (statutory
or other), pledge, lease, easement, restriction, charge, security interest or
other encumbrance of any kind or nature in respect of such asset, whether or
not filed, recorded or otherwise perfected under applicable law, including any
conditional sale or other title retention agreement, and any lease in the
nature thereof.

 

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

 

“Obligation”
means any principal, interest, penalties, fees, indemnification,
reimbursements, costs, expenses, damages and other liabilities payable under
the documentation governing any Indebtedness.

 

“Officer”
means any of the following of the Issuer: the Chairman of the Board of
Directors, the Chief Executive Officer, the President, any Vice President, the
Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Secretary
or any Assistant Secretary.

 

4

 

“Officers’
Certificate” means a certificate signed by two Officers (on behalf
of the Issuer in their representative capacities, and not in their individual
capacities).

 

“Opinion of
Counsel” means a written opinion from legal counsel who is reasonably
acceptable to the Trustee. The counsel may (but need not) be an employee of, or
counsel to, the Issuer or the Trustee.

 

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

 

“Plan of
Liquidation,” with respect to any Person, means a plan that provides
for, contemplates or the effectuation of which is preceded or accompanied by
(whether or not substantially contemporaneously, in phases or otherwise): (1) the
sale, lease, conveyance or other disposition of all or substantially all of the
assets of such Person otherwise than as an entirety or substantially as an
entirety; and (2) the distribution of all or substantially all of the
proceeds of such sale, lease, conveyance or other disposition of all or
substantially all of the remaining assets of such Person to holders of Equity
Interests of such Person.

 

“principal”
of a Security means the principal of the Security plus, when appropriate, the
premium, if any, on, and any Additional Amounts in respect of, the Security.

 

“redeem”
means to redeem, repurchase, purchase, defease, retire, discharge or otherwise
acquire or retire for value, and “redemption” has
a correlative meaning.

 

“Responsible
Officer” means, when used with respect to the Trustee, any officer
in the Corporate Trust Office or equivalent office, group or department of the
Trustee to whom any corporate trust matter is referred because of such officer’s
knowledge of and familiarity with the particular subject and shall also mean
any officer who shall have direct responsibility for the administration of this
Indenture.

 

“Sale and
Leaseback Transactions” means with respect to any Person an
arrangement with any bank, insurance company or other lender or investor or to
which such lender or investor is a party, providing for the leasing by such
Person of any asset of such Person which has been or is being sold or
transferred by such Person 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 asset.

 

“SEC”
means the U.S. Securities and Exchange Commission.

 

“Securities”
means the debentures, notes or other debt instruments of the Issuer of any Series authenticated
and delivered under this Indenture.

 

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

 

“Series”
or “Series of Securities” means each
series of debentures, notes or other debt instruments of the Issuer created
pursuant to Sections 2.01 and 2.02 hereof.

 

“Stated
Maturity” means, with respect to any installment of interest or
principal on any Indebtedness, the date on which such payment of interest or
principal is scheduled to be paid in the documentation governing such
Indebtedness, and shall not include any contingent obligations to repay, redeem
or repurchase any such interest or principal prior to the date originally
scheduled for the payment thereof.

 

“Subsidiary”
means, with respect to any Person:

 

(1)           any corporation, limited liability company, association or
other business entity of which more than 50% of the total voting power of the
Equity Interests entitled (without regard to the occurrence of any contingency)
to vote in the election of the Board of Directors thereof are at the time owned
or controlled, directly or indirectly, by such Person or one or more of the
other Subsidiaries of that Person (or a combination thereof); and

 

5

 

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

 

Unless otherwise specified, “Subsidiary”
refers to a Subsidiary of the Issuer.

 

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

 

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

 

“U.S. Government
Obligations” means direct, non-callable obligations of, or
obligations guaranteed by, the United States of America, and the payment for
which the United States pledges its full faith and credit.

 

Section 1.02.                             Other
Definitions.

 

	
  Term

  	
   

  	
  Defined in Section

  	
   

  
	
  “Covenant Defeasance”

  	
   

  	
  8.02

  	
   

  	
   

  
	
  “Event of Default”

  	
   

  	
  6.01

  	
   

  	
   

  
	
  “Journal”

  	
   

  	
  10.14

  	
   

  	
   

  
	
  “Judgment Currency”

  	
   

  	
  10.15

  	
   

  	
   

  
	
  “Legal Defeasance”

  	
   

  	
  8.02

  	
   

  	
   

  
	
  “mandatory sinking fund payment”

  	
   

  	
  11.01

  	
   

  	
   

  
	
  “Market Exchange Rate”

  	
   

  	
  10.14

  	
   

  	
   

  
	
  “New York Banking Day”

  	
   

  	
  10.15

  	
   

  	
   

  
	
  “optional sinking fund payment”

  	
   

  	
  11.01

  	
   

  	
   

  
	
  “Paying Agent”

  	
   

  	
  2.04

  	
   

  	
   

  
	
  “Registrar”

  	
   

  	
  2.04

  	
   

  	
   

  
	
  “Required Currency”

  	
   

  	
  10.15

  	
   

  	
   

  
	
  “Service Agent”

  	
   

  	
  2.04

  	
   

  	
   

  
	
  “Successor”

  	
   

  	
  5.01

  	
   

  	
   

  

 

Section 1.03.                             Incorporation
by Reference of Trust Indenture Act.

 

Whenever this Indenture refers to a provision of the
Trust Indenture Act, such provision is incorporated by reference in, and made a
part of, this Indenture. The following Trust Indenture Act terms used in this
Indenture have the following meanings:

 

“indenture securities” means the Securities.

 

“indenture security holder” means a Holder.

 

“indenture to be qualified” means this Indenture.

 

“indenture trustee” or “institutional trustee” means
the Trustee.

 

“obligor” on the indenture securities means the
Issuer and any other obligor on the Securities.

 

All other Trust Indenture Act terms used in this
Indenture that are defined by the Trust Indenture Act, defined by Trust
Indenture Act reference to another statute or defined by SEC rule and not
otherwise defined herein have the meanings assigned to them therein.

 

6

 

Section 1.04.                             Rules of
Construction.

 

Unless the context otherwise requires:

 

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

 

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

 

(3)                                  references to “generally
accepted accounting principles” and “GAAP” shall mean generally accepted
accounting principles or GAAP in effect as of the time and for the period as to
which such accounting principles are to be applied;

 

(4)                                  “or” is not exclusive;

 

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

 

(6)                                  all references in this
Indenture to “Articles,” “Sections” and other subdivisions are to the
designated Articles, Sections and provisions of this Indenture, unless
otherwise indicated;

 

(7)                                  provisions apply to
successive events and transactions;

 

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

 

(9)                                  the words “including,”
“includes” and similar words shall not be limiting and shall be deemed to be
followed by “without limitation.”

 

ARTICLE TWO

 

THE SECURITIES

 

Section 2.01.                             Issuable in
Series.

 

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

 

Section 2.02.                             Establishment
of Terms of Series of Securities.

 

At or prior to the issuance of any Securities within
a Series, the following shall be established (as to the Series generally, in
the case of Section 2.02(a), and either as to such Securities within the Series
or as to the Series generally in the case of Sections 2.02(a) through 2.02(y))
by or pursuant to a Board Resolution, and set forth or determined in the manner
provided in a Board Resolution, a supplemental indenture hereto or an Officers’
Certificate pursuant to authority granted under a Board Resolution:

 

(a)                                  the title of
the Series (which shall distinguish the Securities of that particular Series from
the Securities of any other Series);

 

7

 

(b)                                 the price or
prices (expressed as a percentage of the principal amount thereof) at which the
Securities of the Series will be issued;

 

(c)                                  any limit upon
the aggregate principal amount of the Securities of the Series which may be
authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, other Securities of the Series pursuant to Section 2.07,
2.08, 2.11, 3.06 or 9.05);

 

(d)                                 the date or
dates on which the principal of the Securities of the Series is payable;

 

(e)                                  the rate or
rates (which may be fixed or variable) per annum or, if applicable, the method
used to determine such rate or rates (including, but not limited to, any
commodity, commodity index, stock exchange index or financial index) at which
the Securities of the Series shall bear interest, if any, the date or dates
from which such interest, if any, shall accrue, the date or dates on which such
interest, if any, shall commence and be payable and any regular record date for
the interest payable on any interest payment date;

 

(f)                                    the place or
places where the principal of and interest, if any, on the Securities of the
Series shall be payable, where the Securities of such Series may be surrendered
for registration of transfer or exchange and where notices and demands to or
upon the Issuer in respect of the Securities of such Series and this Indenture
may be served, and the method of such payment, if by wire transfer, mail or
other means;

 

(g)                                 if applicable,
the period or periods within which, the price or prices at which and the other
detailed terms and conditions upon which the Securities of the Series may be
redeemed, in whole or in part, at the option of the Issuer;

 

(h)                                 the
obligations, if any, of the Issuer to redeem or purchase the Securities of the
Series pursuant to any sinking fund or analogous provisions or at the option of
a Holder thereof and the date or dates on which or period or periods within
which, the price or prices at which and the other detailed terms and provisions
upon which Securities of the Series shall be redeemed or purchased, in whole or
in part, pursuant to such obligations;

 

(i)                                     if other than
denominations of $1,000 and integral multiples thereof, the denominations in
which the Securities of the Series shall be issuable;

 

(j)                                     the forms of
the Securities of the Series in bearer or fully registered form (and, if in
fully registered form, whether the Securities will be issuable as Global
Securities);

 

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

 

(l)                                     the currency of
denomination of the Securities of the Series, which may be in Dollars or any
Foreign Currency;

 

(m)                               the designation
of the currency, currencies or currency units in which payment of the principal
of and interest, if any, on the Securities of the Series will be made;

 

(n)                                 if payments of
principal of or interest, if any, on the Securities of the Series are to be
made in one or more currencies or currency units other than that or those in
which such Securities are denominated, the manner in which the exchange rate
with respect to such payments will be determined;

 

(o)                                 the terms, if
any, of subordination of the Securities of the Series;

 

(p)                                 the terms, if
any, of any guarantee of the Securities of the Series by any of the Issuer’s
Subsidiaries, whether any such guarantee shall be made on a senior or
subordinated basis and, if applicable, the terms of subordination of any such
guarantee;

 

8

 

(q)                                 any provisions
relating to any security provided for the Securities of the Series or any
guarantees by any of the Issuer’s Subsidiaries (including any security to be
provided by any such Subsidiary guarantor);

 

(r)                                    any addition to
or change in the Events of Default which applies to any Securities of the
Series and any change in the right of the Trustee or the requisite Holders of
such Securities to declare the principal amount thereof due and payable
pursuant to Section 6.02;

 

(s)                                  any addition to
or change in the covenants set forth in Articles Four or Five which applies to
Securities of the Series;

 

(t)                                    the provisions,
if any, relating to conversion of any Securities of such Series into Equity
Interests, including if applicable, the conversion price, the conversion
period, provisions as to whether conversion will be mandatory, at the option of
the Holders thereof or at the option of the Issuer, the events requiring an
adjustment of the conversion price and provisions affecting conversion if such
Series of Securities are redeemed;

 

(u)                                 any exchange
features of the Securities of such Series;

 

(v)                                 any addition to
or change in the provisions relating to satisfaction and discharge of
Obligations under this Indenture with respect to the Securities of such Series,
or in the provisions relating to legal defeasance or covenant defeasance under
this Indenture with respect to the Securities of such Series;

 

(w)                               any addition to
or change in the provisions relating to modification of this Indenture both
with and without the consent of Holders of the Securities of such Series;

 

(x)                                   any other terms
or provisions of the Securities of the Series (which may amend, supplement,
modify or delete any provision of this Indenture insofar as it applies to such
Series); and

 

(y)                                 any registrars,
paying agents, service agents, depositories, interest rate calculation agents,
exchange rate calculation agents or other agents with respect to Securities of
such Series if other than those appointed herein.

 

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

 

Section 2.03.                             Execution and
Authentication.

 

One Officer of the Issuer (who shall have been duly
authorized by all requisite corporate actions) shall sign the Securities for
the Issuer by manual or facsimile signature.

 

If an Officer whose signature is on a Security was
an Officer at the time of such execution but no longer holds that office at the
time the Security is authenticated, the Security shall nevertheless be valid.

 

A Security shall not be valid until authenticated by
the manual signature of the Trustee or an authenticating agent. The signature
shall be conclusive evidence that the Security has been authenticated under
this Indenture.

 

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

 

9

 

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

 

Prior to the issuance of Securities of any Series,
the Trustee shall have received and (subject to Section 7.02) shall be fully protected
in relying on: (i) the Board Resolution, supplemental indenture or Officers’
Certificate establishing the form of the Securities of that Series or of
Securities within that Series and the terms of the Securities of that Series or
of Securities within that Series, (ii) an Officers’ Certificate complying with
Section 10.05, and (iii) an Opinion of Counsel complying with Section 10.05.

 

The Trustee may appoint an authenticating agent
reasonably acceptable to the Issuer to authenticate Securities. Unless
otherwise provided in the appointment, an authenticating agent may authenticate
Securities whenever the Trustee may do so. Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent. An
authenticating agent has the same rights as an Agent to deal with the Issuer
and Affiliates of the Issuer. The Trustee shall have the right to decline to
authenticate and deliver any Securities of such Series if the Trustee, being
advised by counsel, determines that such action may not lawfully be taken or if
the Trustee in good faith by shall determine that such action would expose the
Trustee to personal liability.

 

Section 2.04.                             Registrar and
Paying Agent.

 

The Issuer shall maintain, with respect to each
Series of Securities, at the place or places specified with respect to such
Series pursuant to Section 2.02, an office or agency where (a) Securities of
such Series may be surrendered for registration of transfer or exchange (“Registrar”), (b) Securities of such Series may be presented
or surrendered for payment (“Paying Agent”)
and (c) notices and demands to or upon the Issuer in respect of the Securities
of such Series and this Indenture may be served (“Service
Agent”). The Issuer may act as Registrar or Paying Agent. The Registrar
shall keep a register with respect to each Series of Securities and to their
transfer and exchange. The term “Registrar”
includes any co-registrar; the term “Paying Agent”
includes any additional paying agent; and the term “Service
Agent” includes any additional service agent. The Issuer hereby
appoints the Trustee the initial Registrar, Paying Agent and Service Agent for
each Series unless another Registrar, Paying Agent or Service Agent, as the
case may be, is appointed prior to the time Securities of that Series are first
issued. The Issuer will give prompt written notice to the Trustee of the name
and address, and any change in the name or address, of each Registrar, Paying
Agent or Service Agent. If at any time the Issuer shall fail to maintain any
such required Registrar, Paying Agent or Service Agent or shall fail to furnish
the Trustee with the name and address thereof, such presentations, surrenders,
notices and demands may be made or served at the Corporate Trust Office of the
Trustee, and the Issuer hereby appoints the Trustee as its agent to receive all
such presentations, surrenders, notices and demands.

 

The Issuer shall enter into an appropriate agency
agreement with any Agent not a party to this Indenture, which agreement shall
implement the provisions of this Indenture that relate to such Agent. The
Issuer shall notify the Trustee, in advance, of the name and address of any
such Agent. If the Issuer fails to maintain a Registrar or Paying Agent, the
Trustee shall act as such.

 

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

 

Section 2.05.                             Paying Agent to
Hold Assets in Trust.

 

The Issuer shall require each Paying Agent other
than the Trustee or the Issuer or any Subsidiary to agree in writing that each
Paying Agent shall hold in trust for the benefit of Holders or the Trustee all
assets held by the Paying Agent for the payment of principal of, or interest
on, the Securities (whether such assets have been distributed to it by the
Issuer or any other obligor on the Securities), and shall notify the Trustee of
any Default by the Issuer (or any other obligor on the Securities) in making
any such payment. The Issuer at any time may require a 

 

10

 

Paying Agent to distribute
all assets held by it to the Trustee and account for any assets disbursed, and
the Trustee may at any time during the continuance of any payment Default, upon
written request to a Paying Agent, require such Paying Agent to distribute all
assets held by it to the Trustee and to account for any assets distributed.
Upon distribution to the Trustee of all assets that shall have been delivered
by the Issuer to the Paying Agent, the Paying Agent shall have no further
liability for such assets. If the Issuer or a Subsidiary of the Issuer acts as
Paying Agent, it shall segregate and hold in a separate trust fund for the
benefit of the Holders of any Series of Securities all money held by it as
Paying Agent.

 

Section 2.06.                             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 the Holders of each Series of Securities and shall otherwise
comply with Trust Indenture Act § 312(a). If the Trustee is not the Registrar,
the Issuer shall furnish to the Trustee at least ten (10) days before each
interest payment date with respect to any Series of Securities 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 such Series of Securities, which list may be conclusively
relied upon by the Trustee.

 

Section 2.07.                             Transfer and
Exchange.

 

Subject to Section 2.14, where Securities of a
Series are presented to the Registrar with a request to register a transfer or
to exchange them for an equal principal amount of Securities of the same
Series, the Registrar shall register the transfer or make the exchange as
requested if its requirements for such transaction are met; provided, however, that
the Securities surrendered for transfer or exchange shall be duly endorsed or
accompanied by a written instrument of transfer in form satisfactory to the
Issuer and the Registrar, duly executed by the Holder thereof or his or her
attorney duly authorized in writing. To permit registrations of transfers and
exchanges, the Issuer shall execute and the Trustee shall authenticate Securities
at the Registrar’s request. No service charge shall be made for any
registration of transfer or exchange (except as otherwise expressly permitted
herein), but the Issuer may require payment of a sum sufficient to cover any
transfer tax or similar governmental charge payable in connection therewith
(other than any such transfer tax or similar governmental charge payable upon
exchanges pursuant to Sections 2.11, 3.06 or 9.05).

 

Without the prior written consent of the Issuer, the
Registrar shall not be required to register the transfer of or exchange
Securities of any Series (i) during the period beginning at the opening of
business fifteen (15) days before the mailing of a notice of redemption of
Securities of that Series selected for redemption and ending at the close of
business on the day of such mailing, or (ii) selected, called or being called
for redemption in whole or in part pursuant to Article Three, except the
unredeemed portion of such Securities, if any.

 

Section 2.08.                             Replacement
Securities.

 

If a mutilated Security is surrendered to the
Trustee or if the Holder of a Security claims that the Security has been lost,
destroyed or wrongfully taken, the Issuer shall issue and the Trustee shall
authenticate and deliver a replacement Security of the same Series if the
requirements of Section 8-405 of the Uniform Commercial Code are met and the
Holder satisfies any other reasonable requirements of the Trustee. If required
by the Trustee or the Issuer, such Holder shall furnish an indemnity bond
sufficient in the judgment of the Issuer and the Trustee to protect the Issuer,
the Trustee or any Agent from any loss which any of them may suffer if a
Security is replaced. The Issuer and the Trustee may each charge such Holder
for its reasonable out-of-pocket expenses in replacing a Security pursuant to
this Section 2.08, including reasonable fees and expenses of counsel and of the
Trustee.

 

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

 

11

 

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

 

The provisions of this Section 2.08 are exclusive
and shall preclude (to the extent lawful) all other rights and remedies with
respect to the replacement or payment of lost, destroyed or wrongfully taken
Securities.

 

Section 2.09.                             Outstanding
Securities.

 

Subject to Section 2.10, the Securities outstanding
at any time are all the Securities authenticated by the Trustee except those
cancelled by it, those delivered to it for cancellation, those reductions in
the interest on a Global Security effected by the Trustee in accordance with
the provisions hereof and those described in this Section as not outstanding.
Subject to Section 2.10, a Security does not cease to be outstanding because
the Issuer or any of its Affiliates holds the Security.

 

If a Security is replaced pursuant to Section 2.08
(other than a mutilated Security surrendered for replacement), it ceases to be
outstanding unless a Responsible Officer of the Trustee receives proof
satisfactory to it that the replaced Security is held by a bona fide purchaser.

 

If the Paying Agent (other than the Issuer, a
Subsidiary of the Issuer or an Affiliate of the Issuer) holds on the Maturity
Date of Securities of a Series money sufficient to pay such Securities payable
on that date, then on and after that date such Securities of the Series cease
to be outstanding and interest on them ceases to accrue.

 

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

 

If the principal amount of any Security is
considered paid under Section 4.01, it ceases to be outstanding and interest
ceases to accrue. If on any redemption date or the Maturity Date the Trustee or
Paying Agent (other than the Issuer or an Affiliate thereof) holds cash in
Dollars or U.S. Government Obligations, or a combination thereof, in amounts
sufficient to pay all of the principal and interest due on the Securities
payable on that date, then on and after that date such Securities cease to be
outstanding and interest on them ceases to accrue.

 

Section 2.10.                             Treasury
Securities.

 

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

 

Section 2.11.                             Temporary
Securities.

 

Until definitive Securities of a Series are ready
for delivery, the Issuer may prepare and the Trustee shall authenticate
temporary Securities upon an Issuer Order. Temporary Securities shall be
substantially in the form of definitive Securities of the same Series but may
have variations that the Issuer considers appropriate for temporary Securities.
Without unreasonable delay, the Issuer shall prepare and the Trustee shall
authenticate definitive Securities of the same Series and Maturity Date in
exchange for temporary Securities. Until such exchange, temporary Securities
shall be entitled to the same rights, benefits and privileges as definitive
Securities of the same Series.

 

12

 

Section 2.12.                             Cancellation.

 

The Issuer at any time may deliver Securities to the
Trustee for cancellation. The Registrar and the Paying Agent shall forward to
the Trustee any Securities surrendered to them for transfer, exchange or
payment. The Trustee, or at the direction of the Trustee, the Registrar or the
Paying Agent (other than the Issuer or a Subsidiary), and no one else, shall
cancel and, at the written direction of the Issuer, shall dispose of all Securities
surrendered for transfer, exchange, payment or cancellation in accordance with
its customary procedures. Certification of the destruction of all cancelled
Securities shall be delivered to the Issuer upon request by the Issuer. Subject
to Section 2.08, the Issuer may not issue new Securities to replace Securities
that it has paid or delivered to the Trustee for cancellation. If the Issuer or
any of its Subsidiaries shall acquire any of the Securities, such acquisition
shall not operate as a redemption or satisfaction of the Indebtedness
represented by such Securities unless and until the same are surrendered to the
Trustee for cancellation pursuant to this Section 2.12.

 

Section 2.13.                             Defaulted
Interest.

 

If the Issuer defaults in a payment of interest on
the Securities of any Series, it shall pay the defaulted interest, plus (to the
extent lawful) any interest payable on the defaulted interest, in any lawful
manner. The Issuer may pay the defaulted interest to the Persons who are the
Holders of the Securities of such Series on a subsequent special record date,
which date shall be the fifteenth (15th) day next preceding the date fixed by
the Issuer for the payment of defaulted interest or the next succeeding
Business Day if such date is not a Business Day. At least fifteen (15) days
before any such subsequent special record date, the Issuer (or, upon the
written request of the Issuer, the Trustee in the name and at the expense of
the Issuer) shall mail to each Holder, with a copy to the Trustee, a notice
that states the subsequent special record date, the payment date and the amount
of defaulted interest, and interest payable on such defaulted interest, if any,
to be paid.

 

Section 2.14.                             Global
Securities.

 

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

 

(b)                                 Transfer and
Exchange. Notwithstanding any provisions to the contrary contained in Section 2.07
of this Indenture and in addition thereto, any Global Security shall be
exchangeable pursuant to Section 2.07 of this Indenture for Securities
registered in the names of Holders other than the Depository for such Security
or its nominee only if (i) such Depository notifies the Issuer that it is
unwilling or unable to continue as Depository for such Global Security or if at
any time such Depository ceases to be a clearing agency registered under the
Exchange Act, and, in either case, the Issuer fails to appoint a successor
Depository registered as a clearing agency under the Exchange Act within ninety
(90) days of such event, (ii) the Issuer executes and delivers to the Trustee
an Officers’ Certificate to the effect that such Global Security shall be so
exchangeable or (iii) an Event of Default with respect to the Securities
represented by such Global Security shall have happened and be continuing. Any
Global Security that is exchangeable pursuant to the preceding sentence shall
be exchangeable for Securities registered in such names as the Depository shall
direct in writing in an aggregate amount equal to the principal amount of the
Global Security with like tenor and terms. Except as provided in this Section 2.14(b),
a Global Security may not be transferred except as a whole by the Depository
with respect to such Global Security to a nominee of such Depository, by a
nominee of such Depository to such Depository or another nominee of such
Depository or by the Depository or any such nominee to a successor Depository
or a nominee of such a successor Depository.

 

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

 

“This Security is a Global Security within the
meaning of the Indenture hereinafter referred to and is registered in the name
of the Depository or a nominee of the Depository. This Security is exchangeable
for Securities registered in the name of a Person other than the Depository or
its nominee only in the limited circumstances described in the Indenture, and
may not be transferred except as a whole by the Depository to a nominee of the
Depository, by a nominee of the Depository to the Depository or another nominee
of the Depository or by the Depository or any such nominee to a successor
Depository or a nominee of such a successor Depository.”

 

13

 

(d)                                 Acts of
Holders. The Depository, as a Holder, may appoint agents and otherwise
authorize participants to give or take any request, demand, authorization,
direction, notice, consent, waiver or other action which a Holder is entitled
to give or take under this Indenture.

 

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

 

(f)                                    Consents,
Declaration and Directions. Except as provided in Section 2.09 (last sentence),
the Issuer, the Trustee and any Agent shall treat a Person as the Holder of
such principal amount of outstanding Securities of such Series represented by a
Global Security as shall be specified in a written statement of the Depository
with respect to such Global Security, for purposes of obtaining any consents,
declarations, waivers or directions required to be given by the Holders
pursuant to this Indenture.

 

Section 2.15.                             CUSIP and ISIN
Numbers.

 

The Issuer in issuing the Securities may use “CUSIP”
or “ISIN” numbers, and if so, the Trustee shall use the “CUSIP” or “ISIN”
numbers in notices of redemption or exchange as a convenience to Holders; provided, however, that
any such notice may state that no representation is made as to the correctness
or accuracy of the “CUSIP” or “ISIN” numbers printed in the notice or on the
Securities, and that reliance may be placed only on the other identification
numbers printed on the Securities. The Issuer will promptly notify the Trustee of
any change in the “CUSIP” or “ISIN” numbers.

 

ARTICLE THREE

 

REDEMPTION

 

Section 3.01.                             Notices to
Trustee.

 

The Issuer may, with respect to any Series of
Securities, reserve the right to redeem and pay the Series of Securities or may
covenant to redeem and pay the Series of Securities or any part thereof prior
to the Stated Maturity thereof at such time and on such terms as provided for
in such Securities. If a Series of Securities is redeemable and the Issuer
wants or is obligated to redeem prior to the Stated Maturity thereof all or
part of the Series of Securities pursuant to the terms of such Securities, it
shall notify the Trustee of the redemption date and the principal amount of
Series of Securities to be redeemed. The Issuer shall give the notice of
redemption to the Trustee at least forty-five (45) days before the redemption
date (unless a shorter notice shall be agreed to by the Trustee in writing),
together with such documentation and records as shall enable the Trustee to
select the Securities to be redeemed.

 

Section 3.02.                             Selection of
Securities to be Redeemed.

 

Unless otherwise indicated for a particular Series by
a Board Resolution, a supplemental indenture hereto or an Officers’
Certificate, if less than all the Securities of a Series are to be redeemed,
the Trustee shall select the Securities of the Series to be redeemed as
follows:

 

(1)                                  if such Securities are
listed on a national securities exchange, in compliance with the requirements
of the principal national securities exchange on which such Securities are
listed; or

 

(2)                                  if such Securities are not
so listed, on a pro rata basis, by lot or by such other method as the Trustee
shall deem fair and appropriate.

 

In the event of partial redemption, the Trustee
shall make the selection from Securities of the Series outstanding not
previously called for redemption. The Trustee may select for redemption
portions of the principal of Securities of the Series that have denominations
larger than $1,000. Securities of the Series and portions of them it selects
shall be in amounts of $1,000 or integral multiples of $1,000 or, with respect
to Securities of any Series issuable in other denominations pursuant to
Subsection 2.02(i), the minimum principal denomination for each Series 

 

14

 

and integral multiples
thereof. Provisions of this Indenture that apply to Securities of a Series called
for redemption also apply to portions of Securities of that Series called for
redemption.

 

Section 3.03.                             Notice of
Redemption.

 

Unless otherwise indicated for a particular Series by
a Board Resolution, a supplemental indenture hereto or an Officers’
Certificate, at least thirty (30) days but not more than sixty (60) days before
a redemption date, the Issuer shall mail, or cause to be mailed, a notice of
redemption by first-class mail, postage prepaid, to each Holder whose
Securities are to be redeemed and if any Bearer Securities are outstanding,
publish on one occasion a notice in an Authorized Newspaper (except that a
redemption referred to in Article Eight may be more than sixty (60) days before
the applicable redemption date). At the Issuer’s request, the Trustee shall
forward the notice of redemption in the Issuer’s name and at the Issuer’s
expense. Each notice for redemption shall identify the Securities of the Series
to be redeemed (including the CUSIP or ISIN number, if any) and shall state:

 

(1)                                  the date fixed for the
redemption of such Securities;

 

(2)                                  the price fixed for the
redemption of such securities;

 

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

 

(4)                                  that Securities of the
Series called for redemption must be surrendered to the Paying Agent to collect
the redemption price therefor;

 

(5)                                  that interest on Securities
of the Series called for redemption shall cease to accrue on and after the
redemption date thereof, and the only remaining right of the Holders of such
Securities shall be to receive payment of the redemption price therefor upon
surrender to the Trustee or Paying Agent of the Securities to be redeemed; and

 

(6)                                  any other information as may
be required by the terms of the particular Series or the Securities of a Series
being redeemed.

 

At the Issuer’s request, the Trustee shall give the
notice of redemption in the Issuer’s name and at its expense.

 

Section 3.04.                             Effect of
Notice of Redemption.

 

Once notice of redemption is mailed or published as
provided in accordance with Section 3.03, Securities of a Series called for
redemption shall become due and payable on the redemption date and at the
redemption price therefor. A notice of redemption may not be conditional. Upon
surrender to the Paying Agent, such Securities shall be paid at the redemption
price plus accrued interest to the redemption date; provided
that installments of interest whose Stated Maturity is on or prior to the
redemption date shall be payable to the Holders of such Securities (or one or
more predecessor Securities) registered at the close of business on the
relevant record date therefor according to their terms and the terms of this
Indenture.

 

Section 3.05.                             Deposit of
Redemption Price.

 

On or before 10:00 a.m. New York time on the
redemption date, the Issuer shall deposit with the Paying Agent funds
sufficient to pay the redemption price of and accrued and unpaid interest, if
any, on all Securities to be redeemed on that date.

 

Section 3.06.                             Securities
Redeemed in Part.

 

Upon surrender of a Security that is to be redeemed
in part, the notice of redemption that relates to such Security shall state the
portion of the principal amount thereof to be redeemed. A new Security or
Securities of the same Series and the same Maturity Date equal in principal
amount to the unredeemed portion of the original 

 

15

 

Security shall be issued in
the name of the Holder thereof upon surrender and cancellation of the original
Security surrendered.

 

ARTICLE
FOUR

 

COVENANTS

 

Section 4.01.                             Payment of
Principal and Interest.

 

The Issuer shall pay or
cause to be paid the principal of and interest on the Securities of each Series in
the manner provided in such Securities and this Indenture. An installment of
principal of, or interest on, Securities shall be considered paid on the date
it is due if the Trustee or the Paying Agent (other than the Issuer or an
Affiliate thereof) holds on that date funds designated for and sufficient to
pay the installment. The Paying Agent shall return to the Issuer promptly, and
in any event, no later than five (5) Business Days following the date of
payment, any money (including accrued interest) that exceeds such amount of
principal and interest paid on the Securities. If a payment date is not a
Business Day, at a place of payment, payment may be made at that place on the
next succeeding day that is a Business Day, and no interest shall accrue on
such payment for the intervening period.

 

Section 4.02.                             Maintenance of
Office or Agency.

 

The Issuer covenants and
agrees for the benefit of the Holders of each Series of Securities that it
will maintain in the Borough of Manhattan, The City of New York, New York the
office or agency (which may be an office or drop facility of the Trustee, the
Registrar or the Service Agent, as applicable, for such Securities or an
Affiliate of such Trustee, the Registrar or the Service Agent, as applicable,
for such Securities) where such Securities may be surrendered for registration
of transfer or for exchange and where notices and demands to or upon the Issuer
in respect of such Securities and this Indenture may be served. The Issuer will
give prompt written notice to the Trustee for such Securities of the location,
and any change in the location, of such office or agency. If at any time the
Issuer shall fail to maintain any such required office or agency or shall fail to
furnish such Trustee with the address thereof, such presentations, surrenders,
notices and demands may be made or served at the Corporate Trust Office of such
Trustee.

 

The Issuer may also from
time to time designate one or more other offices or agencies where Holders of a
Series of Securities may be presented or surrendered for any or all such
purposes and may from time to time rescind such designations. The Issuer will
give prompt written notice to the Trustee for such Series of Securities of
any such designation or rescission and of any change in the location of any
such other office or agency.

 

With respect to each Series of
Securities, the Issuer hereby designates the Corporate Trust Office of the
Trustee for such Securities as one such office or agency of the Issuer in
accordance with Section 2.05 hereof.

 

Section 4.03.                             Corporate
Existence.

 

Except as otherwise
permitted by Article Five and the other provisions of this Indenture, the
Issuer shall do or cause to be done all things necessary to preserve and keep
in full force and effect its corporate existence and its material rights
(charter and statutory) and material franchises; provided,
however, that the Issuer shall not be
required to preserve any such right or franchise if the Board of Directors of
the Issuer shall determine that the preservation thereof is no longer desirable
in the conduct of the business of the Issuer and its Subsidiaries, taken as a
whole, or if the failure so to preserve would not reasonably be expected to
have a material adverse effect on the Issuer and its Subsidiaries, taken as a
whole.

 

Section 4.04.                             Compliance
Certificate.

 

The Issuer and each
guarantor of any Series of Securities (to the extent that such guarantor
is so required under the Trust Indenture Act) shall deliver to the Trustee with
respect to such Series, within one hundred twenty (120) days after the end of
each fiscal year of the Issuer, an Officers’ Certificate stating that, in the
course of the performance by the signers of their duties as Officers of the Issuer,
they would normally have knowledge of any

 

16

 

Default and whether or not
the signers know of any Default that occurred during such fiscal year. If they
do know of such a Default, the certificate shall describe the Default, its
status and what action, if any, the Issuer is taking or proposes to take with
respect thereto. The Issuer also shall comply with Trust Indenture Act §
314(a)(4).

 

Section 4.05.                             Waiver of Stay,
Extension or Usury Laws.

 

The Issuer and each
guarantor, if any, of any Series of Securities covenants (to the extent
permitted by applicable law) that it will not at any time insist upon, plead,
or in any manner whatsoever claim or take the benefit or advantage of, any stay
or extension law or any usury law or other law that would prohibit or forgive
such Issuer or such guarantor from paying all or any portion of the principal
of and/or interest on such Securities or the guarantee, if any, of any such
guarantor as contemplated herein, wherever enacted, now or at any time
hereafter in force, or which may affect the covenants or the performance of
this Indenture, and (to the extent permitted by applicable law) each hereby
expressly waives all benefit or advantage of any such law, and covenants that
it will not hinder, delay or impede the execution of any power herein granted
to the Trustee, but will suffer and permit the execution of every such power as
though no such law had been enacted.

 

Section 4.06.                             SEC Reports.

 

(a)                                  Whether or not
required by the SEC’s rules and regulations, so long as any Securities of
any Series are outstanding, the Issuer will furnish to the Holders of such
Securities, cause the Trustee with respect to such Securities to furnish to the
Holders of such Securities, or file electronically with the SEC through the SEC’s
Electronic Data Gathering, Analysis and Retrieval System (or any successor
system), within the time periods (including any extensions thereof) specified
in the SEC’s rules and regulations:

 

(1)                                  all quarterly
and annual financial information that would be required to be contained in a
filing with the SEC on Forms 10-Q and 10-K (or any successor forms) if the
Issuer were required to file these Forms, including a “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” and, with
respect to the annual information only, a report on the annual financial
statements by the Issuer’s independent accountants; and

 

(2)                                  all current
reports that would be required to be filed with the SEC on Form 8-K (or
any successor form) if the Issuer were required to file these reports.

 

(b)                                 In addition,
whether or not required by the SEC’s rules and regulations, the Issuer
will file a copy of all of the information and reports referred to in clauses
(a)(1) and (a)(2) above with the SEC for public availability within
the time periods applicable to the Issuer under Section 13(a) or 15(d) of
the Exchange Act (unless the SEC will not accept the filing, in which case the
Issuer shall make the information available to securities analysts and
prospective investors upon request). The Issuer also shall comply with the
other provisions of Trust Indenture Act § 314(a).

 

ARTICLE
FIVE

 

SUCCESSOR
CORPORATION

 

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

 

(a)                                  The Issuer will
not, directly or indirectly, in a single transaction or a series of related
transactions, (1) consolidate or merge with or into any other Person
(other than a merger with an Affiliate of the Issuer solely for the purpose of
changing the Issuer’s jurisdiction of incorporation to another State of the
United States or forming a direct holding company of the Issuer), or sell,
lease, transfer, convey or otherwise dispose of or assign all or substantially
all of the assets of the Issuer or the Issuer and its Subsidiaries (taken as a
whole) to any other Person or (2) effect a Plan of Liquidation, unless, in
either case:

 

17

 

(1)                                  either:

 

(i)                                     the Issuer will
be the surviving or continuing corporation; or

 

(ii)                                  the Person
formed by or surviving such consolidation or merger (if not the Issuer) or to
which such sale, lease, conveyance or other disposition shall be made (or, in
the case of a Plan of Liquidation, any Person to which assets are transferred)
(collectively, the “Successor”) is a corporation organized and existing under
the laws of any State of the United States of America or the District of
Columbia, and the Successor expressly assumes, by a supplemental indenture
hereto in form and substance satisfactory to the Trustee, all of the
Obligations of the Issuer under the Securities and this Indenture; and

 

(2)                                  immediately
after giving effect to such transaction and the assumption of the obligations
as set forth in clause (a)(1) above, if applicable, and the incurrence of
any Indebtedness to be incurred in connection therewith, no Default shall have
occurred and be continuing.

 

(b)                                 For purposes of
the foregoing, the sale, lease, transfer, conveyance or other disposition or
assignment of all or substantially all of the assets of one or more of the
Issuer’s Subsidiaries, the Equity Interests of which constitute all or
substantially all of the assets of the Issuer, will be deemed to be the
transfer of all or substantially all of the assets of the Issuer.

 

(c)                                  Upon any
consolidation, combination or merger of the Issuer, or any sale, lease,
transfer, conveyance or other disposition or assignment of all or substantially
all of the assets of the Issuer in accordance with the foregoing, in which the
Issuer is not the continuing obligor under the Securities and this Indenture,
the surviving entity formed by such consolidation or into which the Issuer is
merged or the entity to which the sale, lease, transfer, conveyance, or other
disposition or assignment is made will succeed to, and be substituted for, and
may exercise every right and power of, the Issuer under the Securities and this
Indenture with the same effect as if such surviving entity had been named
therein as the Issuer, and, except in the case of such a lease, the Issuer will
be released from its Obligations under the Securities and this Indenture.

 

(d)                                 This Section 5.01
shall not apply to (i) any sale, lease, transfer, conveyance or other
disposition or assignment of assets between or among (A) the Issuer and
any of its Subsidiaries or (B) two or more Subsidiaries of the Issuer, or (ii) any
merger or consolidation between the Issuer and any of its Subsidiaries or
between any two Subsidiaries of the Issuer.

 

ARTICLE
SIX

 

DEFAULT
AND REMEDIES

 

Section 6.01.                             Events of
Default.

 

“Event of
Default,” wherever used herein with respect to Securities of any
Series, means any one of the following events, unless in the establishing Board
Resolution, supplemental indenture or Officers’ Certificate, it is provided
that such Series shall not have the benefit of said Event of Default:

 

(1)                                  failure by the
Issuer to pay interest on any of Security of that Series when it becomes
due and payable and the continuance of any such failure for thirty (30)
consecutive days;

 

(2)                                  failure by the
Issuer to pay the principal on any Security of that Series when it becomes
due and payable, whether at Stated Maturity, upon redemption, upon purchase,
upon acceleration or otherwise;

 

(3)                                  failure to
deposit any sinking fund payment, when and as due in respect of any Security of
that Series;

 

(4)                                  failure by the
Issuer to comply with any other agreement or covenant in this Indenture and the
continuance of any such failure for sixty (60) consecutive days after notice of
such failure has been

 

18

 

 

given to the Issuer by the Trustee or by the
Holders of at least twenty-five percent (25%) of the aggregate principal amount
of the Securities of that Series then outstanding;

 

(5)                                  the Issuer
pursuant to or within the meaning of any Bankruptcy Law:

 

(i)                                     commences a
voluntary case,

 

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

 

(iii)                               consents to the
appointment of a Custodian of it or for all or substantially all of its assets,

 

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

 

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

 

(i)                                     is for relief
against the Issuer as debtor in an involuntary case,

 

(ii)                                  appoints a
Custodian of the Issuer or for all or substantially all of its assets, or

 

(iii)                               orders the
liquidation of the Issuer, and the order or decree remains unstayed and in
effect for ninety (90) days; or

 

(7)                                  any other Event
of Default provided with respect to Securities of that Series, which is
specified in a Board Resolution, a supplemental indenture hereto or an Officers’
Certificate, in accordance with Section 2.02(r).

 

Section 6.02.                             Acceleration.

 

If an Event of Default
specified in Section 6.01(5) or Section 6.01(6) with
respect to the Issuer occurs, all outstanding Securities shall become
immediately due and payable without any further action or notice. If an Event
of Default (other than an Event of Default specified in Section 6.01(5) or
Section 6.01(6) with respect to the Issuer) shall have occurred and
be continuing under this Indenture and the Securities of any Series, the
Trustee, by notice to the Issuer, or the Holders of at least twenty-five
percent (25%) in aggregate principal amount of the Securities of such Series then
outstanding by notice to the Issuer and the Trustee, may declare all amounts
owing under such Securities of such Series to be due and payable
immediately. Upon such acceleration or declaration of acceleration, the
aggregate principal (or, if any Securities of that Series are Discount
Securities, such portion of the principal as may be specified in the terms of
such Securities) of and accrued and unpaid interest on the outstanding
Securities of such Series shall immediately become due and payable; provided, however, that
after such acceleration or declaration of acceleration, but before a judgment
or decree based on acceleration or declaration of acceleration, the Holders of
a majority in aggregate principal amount of such outstanding Securities of such
Series may rescind and annul such acceleration or declaration of
acceleration:

 

(1)                                  if the
rescission would not conflict with any judgment or decree;

 

(2)                                  if all existing
Defaults have been cured or waived (except nonpayment of principal and interest
that has become due solely because of this acceleration);

 

(3)                                  to the extent
the payment of such interest is lawful, interest on overdue installments of
interest and overdue principal, which has become due (otherwise than by such
declaration of acceleration), has been paid;

 

(4)                                  if the Issuer
has paid to the Trustee its reasonable compensation and reimbursed the Trustee
of its expenses, disbursements and advances; and

 

19

 

(5)                                  in the event of
a cure or waiver of a Default of the type set forth in Section 6.01(5) or
Section 6.01(6), the Trustee shall have received an Officers’ Certificate
and an Opinion of Counsel that such Default has been cured or waived.

 

No such rescission shall
affect any subsequent Default or impair any right consequent thereto.

 

Section 6.03.                             Other Remedies.

 

If a Default with respect to
Securities of any Series at the time outstanding occurs and is continuing,
the Trustee may pursue any available remedy by proceeding at law or in equity
to collect the payment of principal of, or interest on, such Securities or to
enforce the performance of any provision of such Securities or this Indenture.

 

The Trustee for such
Securities may maintain a proceeding even if it does not possess any of such
Securities or does not produce any of them in the proceeding. A delay or
omission by the Trustee or any Holder of Securities in exercising any right or
remedy accruing upon a Default shall not impair the right or remedy or
constitute a waiver of or acquiescence in the Default. No remedy is exclusive
of any other remedy. All remedies are cumulative to the extent permitted by
law.

 

Section 6.04.                             Waiver of Past
Defaults.

 

Holders of at least a
majority in aggregate principal amount of the then outstanding Securities of
any Series (which may include consents obtained in connection with a
tender offer or exchange offer of such Securities), by notice to the Trustee
for such Securities, may, on behalf of all of the Holders of such Securities,
waive an existing Default with respect to such Securities and its consequences,
except a Default in the payment of principal or interest on such Securities; provided, however, that
the Holders of a majority in aggregate principal amount of the then outstanding
Securities of any Series may, on behalf of all of the Holders of such
Securities, rescind an acceleration of such Securities and its consequences,
including any related payment Default that resulted from such acceleration.
When a Default is waived, it is cured and ceases.

 

Section 6.05.                             Control by
Majority.

 

(a)                                  The Holders of
at least a majority in aggregate principal amount of the outstanding Securities
of any Series may direct the time, method and place of conducting any
proceeding for any remedy available to the Trustee of such Series or
exercising any trust or power conferred on it with respect to such Series.
Subject to Section 7.01, however, the Trustee may refuse to follow any
direction that conflicts with any law or this Indenture, that the Trustee determines
may be unduly prejudicial to the rights of another Holder, or that may involve
the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed
proper by the Trustee which is not inconsistent with such direction.

 

(b)                                 In the event
the Trustee takes any action or follows any direction pursuant to this
Indenture, the Trustee shall be entitled to indemnification against any loss or
expense caused by taking such action or following such direction.

 

Section 6.06.                             Limitation on
Suits.

 

(a)                                  Subject to Section 6.07,
no Holder of any Securities of any Series will have any right to institute
any proceeding with respect to this Indenture or such Securities for any remedy
thereunder, unless the Trustee for such Securities:

 

(1)                                  has failed to
act for a period of sixty (60) consecutive days after receiving notice of a
continuing Event of Default from such Holder and a request to act by Holders of
at least twenty-five percent (25%) in aggregate principal amount of the outstanding
Securities of such Series;

 

(2)                                  has been
offered indemnity satisfactory to it in its reasonable judgment; and

 

20

 

(3)                                  has not
received from the Holders of a majority in aggregate principal amount of the
outstanding Securities of such Series a direction inconsistent with such
request.

 

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

 

Section 6.07.                             Rights of
Holders to Receive Payment.

 

Notwithstanding any other
provision of this Indenture, the right of any Holder of any Securities of any Series to
receive payment of principal of, and interest on, such Securities, on or after
the respective due dates expressed in such Securities (including, if
applicable, in connection with an offer to purchase or redeem), 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 a Default specified in Section 6.01(1),
6.01(2) or 6.01(3) with respect to Securities of any Series occurs
and is continuing, the Trustee for such Securities may recover judgment in its
own name and as trustee of an express trust against the Issuer or any other
obligor on such Securities for the whole amount of principal and accrued
interest and fees remaining unpaid, together with interest on overdue principal
and, to the extent that payment of such interest is lawful, interest on overdue
installments of interest, in each case at the rate per annum borne by such
Securities 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 such Trustee, its agents and counsel.

 

Section 6.09.                             Trustee May File
Proofs of Claim.

 

The Trustee for each Series of
Securities may file such proofs of claim and other papers or documents as may
be necessary or advisable in order to have the claims of such Trustee
(including any claim for the compensation, expenses, disbursements and advances
of such Trustee, its agents and counsel) and the Holders of the Securities for
which it acts as trustee allowed in any judicial proceedings relating to the
Issuer (or any other obligor upon such Securities), its creditors or its
property and shall be entitled and empowered to collect, receive and distribute
any monies or other property payable or deliverable on any such claims, and any
Custodian in any such judicial proceeding is hereby authorized by each Holder
of such Securities to make such payments to such Trustee and, in the event that
such Trustee shall consent to the making of such payments directly to such
Holders, to pay to such Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of such Trustee, its agents
and counsel, and any other amounts due such Trustee under this Indenture.
Nothing herein contained shall be deemed to authorize such Trustee to authorize
or consent to or accept or adopt on behalf of any Holder for which it acts as
trustee any plan of reorganization, arrangement, adjustment or composition
affecting the Securities or the rights of such Holder, or to authorize such
Trustee to vote in respect of the claim of any such Holder in any such
proceeding. The Trustee shall be entitled to participate as a member of any
official committee of creditors in the matters as it deems necessary or
advisable.

 

Section 6.10.                             Priorities.

 

If the Trustee for any Series of
Securities collects any money or property pursuant to this Article Six, it
shall pay out the money or property in the following order:

 

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

 

Second: to Holders of
such Securities for interest accrued on such Securities, ratably, without
preference or priority of any kind, according to the amounts due and payable on
such Securities for interest; and

 

21

 

Third: to Holders of
such Securities for principal amounts due and unpaid on such Securities,
ratably, without preference or priority of any kind, according to the amounts
due and payable on such Securities for principal; and

 

Fourth: to the Issuer
or, if applicable, any guarantors with respect to such Securities, as their
interests may appear, or to such other Person or Persons as a court of
competent jurisdiction shall direct.

 

The Trustee, upon prior
notice to the Issuer, may fix a record date and payment date for any payment to
Holders of Securities 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
any Trustee for any action taken or omitted by it as a Trustee, a court in its
discretion may require the filing by any party litigant in the suit of an
undertaking to pay the costs of the suit, and the court in its discretion may
assess reasonable costs, including reasonable attorneys’ fees and expenses,
against any party litigant in the suit, having due regard to the merits and
good faith of the claims or defenses made by the party litigant. This Section 6.11
does not apply to a suit by the Trustee, a suit by a Holder of a Security
pursuant to Section 6.07 hereof, or a suit by Holders of more than 10% in
aggregate principal amount of the then outstanding Securities of any Series.

 

ARTICLE
SEVEN

 

TRUSTEE

 

Section 7.01.                             Duties of
Trustee.

 

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

 

(b)                                 Except during
the continuance of a Default:

 

(1)                                  The Trustee
need perform only those duties as are specifically set forth herein or in the
Trust Indenture Act, and no duties, covenants, responsibilities or obligations
shall be implied in this Indenture against the Trustee.

 

(2)                                  In the absence
of bad faith on its part, the Trustee may conclusively rely, as to the truth of
the statements and the correctness of the opinions expressed therein, upon
certificates (including Officers’ Certificates) or opinions (including Opinions
of Counsel) furnished to the Trustee and conforming to the requirements of this
Indenture. However, in the case of any such certificates or opinions which by
any provision hereof are specifically required to be furnished to the Trustee,
the Trustee shall examine the certificates and opinions to determine whether or
not they conform to the requirements of this Indenture.

 

(c)                                  Notwithstanding
anything to the contrary herein, the Trustee may not be relieved from liability
for its own negligent action, its own negligent failure to act, or its own
willful misconduct, except that:

 

(1)                                  This paragraph
does not limit the effect of Section 7.01(b).

 

(2)                                  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.

 

(3)                                  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.

 

22

 

(d)                                 No provision of
this Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur any financial liability in the performance of any of its duties
hereunder or to take or omit to take any action under this Indenture or take
any action at the request or direction of Holders if it shall have reasonable
grounds for believing that repayment of such funds is not assured to it.

 

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

 

(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 Issuer. Money held in trust by the
Trustee need not be segregated from other funds except to the extent required
by law.

 

(g)                                 In the absence
of bad faith, negligence or willful misconduct on the part of the Trustee, the
Trustee shall not be responsible for the application of any money by any Paying
Agent other than the Trustee.

 

Section 7.02.                             Rights of
Trustee.

 

Subject to Section 7.01:

 

(a)                                  The Trustee may
rely conclusively on any resolution, certificate (including any Officers’
Certificate), statement, instrument, opinion (including any Opinion of
Counsel), notice, request, direction, consent, order, bond, debenture, or other
paper or 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 such document.

 

(b)                                 Before the
Trustee acts or refrains from acting, it may require an Officers’ Certificate
and an Opinion of Counsel, which shall conform to the provisions of Section 10.05.
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.

 

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

 

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

 

(e)                                  The Trustee may
consult with counsel of its selection and the advice or opinion of such counsel
as to matters of law shall be full and complete authorization and protection
from liability in respect of any action taken, omitted or suffered by it
hereunder in good faith and in accordance with the advice or opinion of such
counsel.

 

(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, order or direction of any of the Holders
pursuant to the provisions of this Indenture, unless such Holders shall have
offered to the Trustee reasonable security or indemnity satisfactory to it
against the costs, expenses and liabilities which may be incurred therein or
thereby.

 

(g)                                 The Trustee
shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate (including any Officers’ Certificate),
statement, instrument, opinion (including any Opinion of Counsel), notice,
request, direction, consent, order, bond, debenture, 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, upon reasonable notice to the Issuer, to examine the books, records,
and premises of the Issuer, personally or by agent or attorney at the sole cost
of the Issuer.

 

(h)                                 The Trustee
shall not be required to give any bond or surety in respect of the performance
of its powers and duties hereunder.

 

23

 

(i)                                     The permissive
rights of the Trustee to do things enumerated in this Indenture shall not be
construed as duties.

 

(j)                                     Except with
respect to Section 4.01 and Section 4.04, the Trustee shall have no
duty to inquire as to the performance of the Issuer with respect to the
covenants contained in Article Four. In addition, the Trustee shall not be
deemed to have knowledge of any Default except (i) any Default occurring
pursuant to Section 4.01, Section 4.04, Section 6.01(1), Section 6.01(2) or
Section 6.01(3) or (ii) any Default of which the Trustee shall
have received written notification.

 

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

 

Section 7.03.                             Individual
Rights of Trustee.

 

The Trustee in its
individual or any other capacity may become the owner or pledgee of Securities
and may otherwise deal with the Issuer or an Affiliate of the Issuer with the
same rights it would have if it were not Trustee. Any Agent may do the same
with like rights. However, the Trustee must comply with Sections 7.10 and 7.11.

 

Section 7.04.                             Trustee’s
Disclaimer.

 

The Trustee shall not be
responsible for and makes no representation as to the validity or adequacy of
this Indenture or the Securities, it shall not be accountable for the Issuer’s
use of the proceeds from the Securities, and it shall not be responsible for
any statement in the Securities other than its authentication.

 

Section 7.05.                             Notice of
Default.

 

If a Default occurs and is
continuing with respect to the Securities of any Series and the Trustee
receives written notice of such Default, the Trustee shall mail to each Holder
of the Securities of that Series and, if any Bearer Securities are
outstanding, publish on one occasion in an Authorized Newspaper, notice of a
Default within thirty (30) days after it occurs or, if later, after a
Responsible Officer of the Trustee has knowledge of such Default. Except in the
case of a Default in payment of principal of or interest on any Security of any
Series, the Trustee may withhold the notice if and so long as the Board of
Directors, the executive committee, or a trust committee of directors and/or
Responsible Officers, of the Trustee in good faith determines that withholding
the notice is in the interests of Holders of that Series.

 

Section 7.06.                             Reports by
Trustee to Holders.

 

Within sixty (60) days after
each January 1, beginning with January 1,
20      , the Trustee shall, to the extent that
any of the events described in Trust Indenture Act § 313(a) occurred
within the previous twelve months, but not otherwise, mail to each Holder a
brief report dated as of such date that complies with Trust Indenture Act §
313(a). The Trustee also shall comply with Trust Indenture Act §§ 313(b), 313(c) and
313(d).

 

A copy of each report at the
time of its mailing to Holders of any Series shall be filed with the SEC
and each stock exchange on which the Securities of that Series are listed.
The Issuer shall promptly notify the Trustee when Securities of any Series are
listed on any stock exchange.

 

The Issuer shall notify the
Trustee if the Securities of any Series become listed on any securities
exchange or of any delisting thereof, and the Trustee shall comply with Trust
Indenture Act § 313(d).

 

Section 7.07.                             Compensation
and Indemnity.

 

The Issuer shall pay to the
Trustee from time to time such compensation as the Issuer and the Trustee shall
from time to time agree in writing for its services hereunder. The Trustee’s
compensation shall not be limited by any law on compensation of a trustee of an
express trust. The Issuer shall reimburse the Trustee upon request for all

 

24

 

reasonable disbursements,
expenses and advances (including reasonable fees and expenses of counsel)
incurred or made by it in addition to the compensation for its services, except
any such disbursements, expenses and advances as may be attributable to the
Trustee’s negligence, bad faith or willful misconduct. Such expenses shall
include the reasonable fees and expenses of the Trustee’s agents and counsel.

 

The Issuer shall indemnify
each of the Trustee or any predecessor Trustee and its agents for, and hold
them harmless against, any and all loss, damage, claims (including taxes (other
than taxes based upon, measured by or determined by the income of the
Trustee)), liability or expense incurred by them arising out of or in
connection with the acceptance or administration of this trust (including the
reasonable costs and expenses of defending themselves against or investigating
any claim or liability in connection with the exercise or performance of any of
the Trustee’s rights, powers or duties hereunder), except in each of the foregoing
cases to the extent caused by any negligence, bad faith or willful misconduct
on their part. The Trustee shall notify the Issuer promptly of any claim
asserted against the Trustee or any of its agents for which it may seek
indemnity. The Issuer may, subject to the approval of the Trustee (which
approval shall not be unreasonably withheld), defend the claim and the Trustee
shall cooperate in the defense. The Trustee and its agents subject to the claim
may have separate counsel and the Issuer shall pay the reasonable fees and
expenses of such counsel; provided, however, that the Issuer will not be required to pay such
fees and expenses if, subject to the approval of the Trustee (which approval
shall not be unreasonably withheld), it assumes the Trustee’s defense and there
is no conflict of interest between the Issuer and the Trustee and its agents
subject to the claim in connection with such defense as reasonably determined
by the Trustee. The Issuer need not pay for any settlement made without its
written consent. The Issuer need not reimburse any expense or indemnify against
any loss or liability to the extent incurred by the Trustee through its
negligence, bad faith or willful misconduct.

 

When the Trustee incurs
expenses or renders services after a Default specified in Section 6.01(5) or
Section 6.01(6) occurs, such expenses and the compensation for such
services shall be paid to the extent allowed under any Bankruptcy Law.

 

Notwithstanding any other
provision in this Indenture, the foregoing provisions of this Section 7.07
shall survive the satisfaction and discharge of this Indenture or the
appointment of a successor Trustee.

 

Section 7.08.                             Replacement of
Trustee.

 

The Trustee may resign with
respect to the Securities of one or more Series by so notifying the Issuer
at least thirty (30) days prior to the date of the proposed resignation. The
Holders of a majority in principal amount of the Securities of any Series may
remove the Trustee with respect to that Series by so notifying the Issuer
and the Trustee and may appoint a successor Trustee. The Issuer may remove the
Trustee with respect to Securities of one or more Series if:

 

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

 

(2)                                  the Trustee is
adjudged a bankrupt or an insolvent;

 

(3)                                  a receiver or other
public officer takes charge of the Trustee or its property; or

 

(4)                                  the Trustee
becomes incapable of acting.

 

If the Trustee retires,
whether by resignation or removal, or if a vacancy exists in the office of
Trustee for any reason, the Issuer shall notify each Holder of such event and
shall promptly appoint a successor Trustee. Within one (1) year after the
successor Trustee takes office, the Holders of a majority in principal amount
of the then outstanding Securities may appoint a successor Trustee to replace
the successor Trustee appointed by the Issuer.

 

A successor Trustee shall
deliver a written acceptance of its appointment to the retiring Trustee and to
the Issuer. Immediately after that, after payment of all sums then owing to the
Trustee pursuant to Section 7.07, the retiring Trustee shall transfer all
property held by it as Trustee to the successor Trustee, the resignation or
removal of the retiring Trustee shall become effective, and the successor
Trustee shall have all the rights, powers and duties

 

25

 

of the Trustee with respect
to each Series of Securities for which it is acting as Trustee under this
Indenture. A successor Trustee shall mail notice of its succession to each
Holder of each such Series and, if any Bearer Securities are outstanding,
publish such notice on one occasion in an Authorized Newspaper.

 

If a successor Trustee with respect to the
Securities of any one or more Series does not take office within sixty
(60) days after the retiring Trustee resigns or is removed, the retiring
Trustee, the Issuer or the Holders of at least ten percent (10%) in principal
amount of the Securities of the applicable Series may petition any court
of competent jurisdiction for the appointment of a successor Trustee at the
expense of the Issuer.

 

If the Trustee fails to comply with
Section 7.10, any Holder may petition any court of competent jurisdiction
for the removal of the Trustee and the appointment of a successor Trustee.

 

Notwithstanding the appointment of a successor
Trustee pursuant to this Section 7.08, the Issuer’s obligations under
Section 7.07 shall continue for the benefit of the retiring Trustee.

 

Section 7.09.          Successor Trustee by Merger, Etc.

 

If the Trustee consolidates with, merges or converts
into, or transfers all or substantially all of its corporate trust business to,
another corporation, the resulting, surviving or transferee corporation without
any further act shall, if such resulting, surviving or transferee corporation
is otherwise eligible hereunder, be the successor Trustee; provided,
however, that such corporation shall be
otherwise qualified and eligible under this Article Seven.

 

Section 7.10.          Eligibility; Disqualification.

 

The Trustee shall at all times satisfy the
requirements of Trust Indenture Act §§ 310(a)(1), 310(a)(2) and 310(a)(5).
The Trustee shall have a combined capital and surplus of at least $50,000,000
as set forth in its most recent published annual report of condition. The
Trustee shall comply with Trust Indenture Act § 310(b); provided,
however, that there shall be excluded
from the operation of Trust Indenture Act § 310(b)(1) any indenture or
indentures under which other securities, or certificates of interest or
participation in other securities, of the Issuer are outstanding, if the
requirements for such exclusion set forth in Trust Indenture Act §
310(b)(1) are met. The provisions of Trust Indenture Act § 310 shall apply
to the Issuer and any other obligor of the Securities.

 

Section 7.11.          Preferential Collection of Claims
Against the Issuer.

 

The Trustee, in its capacity as Trustee hereunder,
shall comply with Trust Indenture Act § 311(a), excluding any creditor
relationship listed in Trust Indenture Act § 311(b). A Trustee who has resigned
or been removed shall be subject to Trust Indenture Act § 311(a) to the extent
indicated.

 

ARTICLE EIGHT

 

DISCHARGE OF INDENTURE;
DEFEASANCE

 

Section 8.01.          Termination of the Issuer’s
Obligations.

 

Except as otherwise provided in the last paragraph
of this Section 8.01, this Indenture will be discharged and will cease to
be of further effect as to a Series of Securities issued hereunder, when
either:

 

(a)           all such Securities that have been authenticated (except
lost, stolen or destroyed Securities that have been replaced or paid and
Securities for whose payment money has been deposited in trust or segregated
and held in trust by the Issuer and thereafter repaid to the Issuer or
discharged from this trust), have been delivered to the Trustee for
cancellation, or

 

(b)           (1) all such Securities 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
within one year and the Issuer has irrevocably deposited or caused to be
deposited with the Trustee as trust funds in 

 

26

 

trust solely for the benefit
of the Holders of such Securities cash in Dollars or U.S. Government
Obligations, or a combination thereof, in amounts sufficient (without
reinvestment) to pay and discharge the entire Indebtedness (including all
principal and accrued interest) on such Securities not theretofore delivered to
the Trustee for cancellation to the date of maturity or redemption;

 

(2)           the
Issuer or any guarantor of such Securities has paid or caused to be paid all
other sums payable by the Issuer under this Indenture; and

 

(3)           the
Issuer has delivered irrevocable instructions to the Trustee for such
Securities under this Indenture to apply the deposited money toward the payment
of such Securities at maturity or on the date of redemption, as the case may
be.

 

In addition, the Issuer must deliver an Officers’
Certificate and an Opinion of Counsel to the Trustee for such Securities
stating that all conditions precedent to satisfaction and discharge have been
complied with.

 

In the case of clause (b) of this
Section 8.01, and subject to the next sentence and notwithstanding the
foregoing paragraph, the Issuer’s obligations in Sections 2.06, 2.07, 2.08,
2.09, 4.01, 4.02, 4.03 (as to legal existence of the Issuer only), 7.07, 8.05
and 8.06 shall survive until such Securities are no longer outstanding pursuant
to the last paragraph of Section 2.09. In addition, nothing in this
Section 8.01 shall be deemed to discharge the obligations in Section 7.07,
8.04(a), 8.05 or 8.06, all of which shall survive the satisfaction and
discharge of this Indenture.

 

After such delivery or irrevocable deposit, the
Trustee upon request by the Issuer shall acknowledge in writing the discharge
of the Issuer’s obligations under such Securities and this Indenture except for
the surviving obligations specified above.

 

Section 8.02.          Legal Defeasance and Covenant
Defeasance.

 

(a)           The Issuer may at any time, at the option of its Board of
Directors evidenced by a resolution set forth in an Officers’ Certificate,
elect to have either Section 8.02(b) or 8.02(c) applied to all
outstanding Securities of any Series upon compliance with the conditions
set forth below in this Article Eight.

 

(b)           Upon the Issuer’s exercise under Section 8.02(a) of
the option applicable to this Section 8.02(b), the Issuer and each
guarantor, if any, of such Securities will, subject to the satisfaction of the
conditions set forth in Section 8.03, be deemed to have been discharged
from its or their obligations with respect to all outstanding Securities of
such Series (including the related guarantees, if any) on the date the
conditions set forth below are satisfied (hereinafter, “Legal
Defeasance”). For this purpose, Legal Defeasance means that the
Issuer and such guarantors, if any, will be deemed to have paid and discharged
the entire Indebtedness represented by the outstanding Securities of such
Series (including the related guarantees, if any), which will thereafter
be deemed to be “outstanding” only for the purposes of Section 8.04 and
the other Sections of this Indenture referred to in clauses (1) and
(2) below, and to have satisfied all its or their other obligations under
such Securities, such guarantees, if any, and this Indenture (and the Trustee
for such Securities, on demand of and at the expense of the Issuer, shall
execute proper instruments acknowledging the same), except for the following
provisions which shall survive until otherwise terminated or discharged
hereunder:

 

(1)           the
rights of Holders of outstanding Securities of such Series to receive,
solely from the trust fund described in Section 8.04, and as more fully
set forth in Section 8.04, payments in respect of the principal of or
interest on, such Securities when such payments are due;

 

(2)           the
Issuer’s obligations with respect to such Securities under Article Two and
Section 4.02 hereof;

 

(3)           the
rights, powers, trusts, duties and immunities of the Trustee for such
Securities hereunder and the Issuer’s and the guarantors’, if any, obligations
in connection therewith; and

 

27

 

(4)           the
provisions of this Article Eight applicable to Legal Defeasance (including
Sections 8.04, 8.05 and 8.06).

 

Subject to compliance with this Article Eight,
the Issuer may exercise its option under this
Section 8.02(b) notwithstanding the prior exercise of its option
under Section 8.02(c) hereof.

 

(c)           Upon the Issuer’s exercise under
Section 8.02(a) hereof of the option applicable to this
Section 8.02(c), the Issuer and each of the guarantors, if any, will,
subject to the satisfaction of the conditions set forth in Section 8.03
hereof, be released from each of their or its obligations under the covenants
specified in a Board Resolution, a supplemental indenture hereto or an
Officers’ Certificate, in accordance with Section 2.02(v), with respect to
the outstanding Securities of the applicable Series on and after the date
the conditions set forth in Section 8.03 hereof are satisfied
(hereinafter, “Covenant Defeasance”), and such
Securities shall thereafter be deemed not “outstanding” for the purposes of any
direction, waiver, consent or declaration or act of Holders of such Securities
(and the consequences of any thereof) in connection with such covenants, but
shall continue to be deemed “outstanding” for all other purposes hereunder (it
being understood that such Securities shall not be deemed outstanding for
accounting purposes). For this purpose, Covenant Defeasance means that, with
respect to the outstanding Securities of such Series, the Issuer may omit to
comply with and shall have no obligation or 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 under Section 6.01, but, except as specified above, the remainder
of this Indenture and such Securities will be unaffected thereby. In addition,
upon the Issuer’s exercise under Section 8.02(a) of the option
applicable to this Section 8.02(c), subject to the satisfaction of the
conditions set forth in Section 8.03, clause (4) of Section 6.01
shall not constitute an Event of Default.

 

Section 8.03.          Conditions to Legal Defeasance or
Covenant Defeasance.

 

In order to exercise either Legal Defeasance under
Section 8.02(b) or Covenant Defeasance under
Section 8.02(c) with respect to Securities of any Series:

 

(1)           the
Issuer must irrevocably deposit with the Trustee for such Securities, in trust,
for the benefit of the Holders of such Securities, money or U.S. Government
Obligations or a combination thereof, in such amounts as will be sufficient
(without reinvestment), in the opinion of a nationally recognized firm of
independent public accountants selected by the Issuer, to pay the principal of
and interest on, and any mandatory sinking fund payments in respect of, the
outstanding Securities of such Series on the stated date for payment
thereof or on the applicable redemption date, as the case may be, and the
Issuer must specify whether such Securities are being defeased to such stated
date for payment or to a particular redemption date;

 

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

 

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

 

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

 

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

 

(3)           in
the case of Covenant Defeasance, the Issuer shall have delivered to the Trustee
for such Securities an Opinion of Counsel in the United States reasonably
acceptable to the Trustee confirming 

 

28

 

that the Holders of such Securities will not recognize income, gain or
loss for U.S. federal income tax purposes as a result of such Covenant
Defeasance and will be subject to U.S. federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such
Covenant Defeasance had not occurred;

 

(4)           no
Default with respect to such Securities shall have occurred and be continuing
on the date of such deposit (other than a Default resulting from the borrowing
of funds to be applied to such deposit);

 

(5)           the
Legal Defeasance or Covenant Defeasance shall not result in a breach or
violation of, or constitute a default under, any material agreement or
instrument to which the Issuer or any of its Subsidiaries is a party or by
which the Issuer or any of its Subsidiaries is bound (other than any such
default resulting solely from the borrowing of funds to be applied to such
deposit and the grant of any Lien on such deposit in favor of the Trustee
and/or the Holders);

 

(6)           the
Issuer shall have delivered to the Trustee for such Securities an Officers’
Certificate stating that the deposit was not made by the Issuer with the intent
of preferring the Holders of such Securities over any other creditors of the
Issuer or with the intent of defeating, hindering, delaying or defrauding any
other of its creditors; and

 

(7)           the
Issuer shall have delivered to the Trustee for such Securities an Officers’
Certificate and an Opinion of Counsel, stating, in the case of the Officers’
Certificate, clauses (1) through (6) of this Section 8.03, as
applicable, have been complied with and stating, in the case of the Opinion of
Counsel, that the conditions provided for in clause (2) or (3), as applicable,
and clause (5) of this Section 8.03 have been complied with.

 

Section 8.04.          Application of Trust Money.

 

(a)           The Trustee or Paying Agent shall hold in trust all money
and U.S. Government Obligations (including the proceeds thereof) deposited with
it pursuant to this Article Eight in respect of the outstanding Securities
of any Series, and shall apply the deposited money and U.S. Government
Obligations (including any proceeds thereof) in accordance with this Indenture
to the payment of the principal of and the interest on such Securities. The
Trustee shall be under no obligation to invest said money and U.S. Government
Obligations (including any proceeds thereof), except as it may agree with the
Issuer.

 

(b)           The Issuer will pay and indemnify the Trustee against any
tax, fee or other charge imposed on or assessed against the money or U.S.
Government Obligations (including any proceeds thereof) deposited pursuant to
Section 8.03, or the principal and interest received in respect thereof,
other than any such tax, fee or other charge which by law is for the account of
the Holders of the outstanding Securities of the applicable Series.

 

(c)           Anything in this Article Eight to the contrary
notwithstanding, the Trustee shall promptly deliver or pay to the Issuer from
time to time upon the request of the Issuer any money or U.S. Government
Obligations held by it as provided in Section 8.03 which, in the opinion
of a nationally recognized firm of independent public accountants expressed in
a written certification thereof delivered to the Trustee, are in excess of the
amount thereof that would then be required to be deposited to effect an
equivalent Legal Defeasance or Covenant Defeasance.

 

Section 8.05.          Repayment to the Issuer.

 

Any money deposited with the Trustee or any Paying
Agent, or then held by the Issuer, in trust for the payment of the principal
of, premium, if any, or interest on, any Series of Securities and
remaining unclaimed for two years after such principal, premium, if any, or
interest has become due and payable shall be paid to the Issuer on its request
or (if then held by the Issuer) will be discharged from such trust; and the
Holders of such Securities will thereafter be permitted to look only to the
Issuer for payment thereof, and all liability of the Trustee or such Paying
Agent with respect to such trust money, and all liability of the Issuer as
trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being
required to make any such repayment, may 

 

29

 

at the expense of the Issuer
cause to be published once, in the New York Times and The Wall Street Journal
(national edition), notice that such money remains unclaimed and that, after a
date specified therein, which will not be less than thirty (30) days from the
date of such notification or publication, any unclaimed balance of such money
then remaining will be repaid to the Issuer.

 

Section 8.06.          Reinstatement.

 

If the Trustee or Paying Agent is unable to apply
any money or U.S. Government Obligations in accordance with this
Article Eight or by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such
application, then the Issuer’s and any applicable guarantors’ Obligations under
this Indenture and the applicable Securities and the guarantees shall be
revived and reinstated as though no deposit had occurred pursuant to this
Article Eight until such time as the Trustee or Paying Agent is permitted
to apply all such money in accordance with this Article Eight; provided, however, that
if the Issuer has made any payment of interest on, or principal of, any such
Securities following the reinstatement of its obligations, the Issuer shall be
subrogated to the rights of the Holders of such Securities to receive such
payment from the money or U.S. Government Obligations held by the Trustee or
Paying Agent.

 

ARTICLE NINE

 

AMENDMENTS, SUPPLEMENTS
AND WAIVERS

 

Section 9.01.          Without Consent of Holders.

 

Subject to Section 9.02 of this Indenture, the
Issuer and the Trustee may amend or supplement this Indenture or the Securities
of one or more Series without the consent of any Holder:

 

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

 

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

 

(3)           to
provide for the assumption of the Issuer’s or a guarantor’s obligations to the
Holders of the Securities in the case of a merger, consolidation or sale of all
or substantially all of the assets, in accordance with Article Five;

 

(4)           to
add guarantees with respect to the Securities of any Series;

 

(5)           to
release any guarantor from its guarantee or any of its other obligations under
this Indenture (to the extent permitted by this Indenture);

 

(6)           to
make any change that would provide any additional rights or benefits to the
Holders of Securities or that does not adversely affect the legal rights
hereunder of any Holder;

 

(7)           to
comply with requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the Trust Indenture Act;

 

(8)           to
provide for the issuance of and establish the form and terms and conditions of
Securities of any Series as permitted by this Indenture; or

 

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

 

Upon the request of the Issuer accompanied by a
resolution of its Board of Directors authorizing the execution of any such
amended or supplemental indenture, and upon receipt by the Trustee of the documents

 

30

 

described in
Section 7.02(b), the Trustee will join with the Issuer in the execution of
any amended or supplemental indenture authorized or permitted by the terms of
this Indenture and to make any further appropriate agreements and stipulations
that may be therein contained, but the Trustee will not be obligated to enter
into such amended or supplemental indenture that affects its own rights, duties
or immunities under this Indenture or otherwise.

 

Section 9.02.          With Consent of Holders.

 

(a)           The Issuer and the Trustee may enter into a supplemental
indenture hereto with the written consent of the Holders of at least a majority
in aggregate principal amount of the outstanding Securities of each Series affected
by such supplemental indenture (including consents obtained in connection with
a tender offer or exchange offer for the Securities of such Series), for the
purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or of any supplemental indenture hereto
or of modifying in any manner the rights of the Holders of each such Series.
Subject to Section 6.07, the Holders of at least a majority in aggregate
principal amount of the outstanding Securities of each Series by notice to
the Trustee (including waivers obtained in connection with a tender offer or
exchange offer for the Securities of such Series) may waive compliance by the
Issuer with any provision of this Indenture or the Securities with respect to
such Series without notice to any other Holders.

 

(b)           Notwithstanding Section 9.02(a), without the consent
of each Holder affected, no amendment or waiver may (with respect to any
Securities held by a non-consenting Holder):

 

(1)           reduce
the principal or change the Stated Maturity of any Security or reduce the
amount of, or postpone the date fixed for, the payment of any sinking fund or
analogous obligation;

 

(2)           reduce
the rate of or extend the time for payment of interest on any Security;

 

(3)           reduce
the principal amount of Discount Securities payable upon acceleration of the
maturity thereof;

 

(4)           waive
a redemption payment with respect to any Security or change any of the
provisions with respect to the redemption of any Securities, except as
specifically set forth in the Board Resolution, supplemental indenture or
Officers’ Certificate delivered pursuant to Section 2.02;

 

(5)           make
the principal of or interest, if any, on any Security payable in money or
currency other than that stated in the Security;

 

(6)           if
the Securities of such Holder are entitled to the benefit of any guarantee,
release any guarantor of such Securities other than as provided in this
Indenture or modify the guarantee in any manner adverse to such Holder;

 

(7)           waive
a Default in the payment of principal of or interest on any Security (except a
rescission of acceleration of the Securities of any Series by the Holders
of at least a majority in principal amount of the outstanding Securities of
such Series and a waiver of the payment Default that resulted from such
acceleration);

 

(8)           change
the amount of Securities whose Holders must consent to an amendment, supplement
or waiver; or

 

(9)           make
any change in Section 6.07, this Section 9.02(b), Section 10.14
or Section 10.15.

 

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

 

31

 

(d)           A consent to any amendment, supplement or waiver under
this Indenture by any Holder given in connection with an exchange (in the case
of an exchange offer) or a tender (in the case of a tender offer) of such
Holder’s Securities will not be rendered invalid by such tender or exchange.

 

(e)           After an amendment, supplement or waiver under this
Section 9.02 becomes effective, the Issuer shall mail, or cause to be
mailed, to the Holders of Securities affected thereby and, if any Bearer
Securities affected thereby are outstanding, publish on one occasion in an
Authorized Newspaper, a notice briefly describing the amendment, supplement or
waiver. Any failure of the Issuer to mail or publish such notice, or any defect
therein, shall not, however, in any way impair or affect the validity of any
such amendment, supplement or waiver.

 

Section 9.03.          Compliance with the Trust Indenture
Act.

 

Every amendment to this Indenture or the Securities
of one or more Series shall be set forth in a supplemental indenture
hereto that complies with the Trust Indenture Act as then in effect.

 

Section 9.04.          Revocation and Effect of Consents.

 

Until an amendment, supplement or waiver becomes
effective, a consent to it by a Holder of a Security is a continuing consent by
the Holder and every subsequent Holder of a Security or portion of a Security
that evidences the same debt as the consenting Holder’s Security, even if
notation of the consent is not made on any Security. However, any such Holder
or subsequent Holder may revoke the consent as to his Security or portion of a
Security before the date on which the Trustee receives an Officers’ Certificate
certifying that the Holders of the requisite Securities have consented (and not
theretofore revoked such consent) to the amendment, supplement or waiver.

 

The Issuer may, but shall not be obligated to, fix a
record date for the purpose of determining the Holders entitled to consent to
any amendment, supplement or waiver, which record date shall be at least thirty
(30) days prior to the first solicitation of such consent. If a record date is
fixed, then notwithstanding the last sentence of the immediately preceding
paragraph, those Persons who were Holders at such record date (or their duly
designated proxies), and only those Persons, shall be entitled to revoke any
consent previously given, whether or not such Persons continue to be Holders
after such record date. No such consent shall be valid or effective for more
than ninety (90) days after such record date. The Issuer shall inform the
Trustee in writing of the fixed record date if applicable.

 

After an amendment, supplement or waiver becomes
effective, it shall bind every Holder, unless it makes a change described in
any of clauses (1) through (9) of Section 9.02(b), in which
case, the amendment, supplement or waiver shall bind only each Holder of
Securities who has consented to it and every subsequent Holder of a Securities
or portion of Securities that evidences the same debt as the consenting
Holder’s Securities; provided, however, that no such amendment, supplement or waiver shall
impair or affect the right of any Holder to receive payment of principal of,
and interest on, a Security, on or after the respective due dates therefor, or
to bring suit for the enforcement of any such payment on or after such
respective dates without the consent of such Holder.

 

Section 9.05.          Notation on or Exchange of
Securities.

 

If an amendment, supplement or waiver changes the
terms of a Security, the Issuer may require the Holder of the Security to
deliver it to the Trustee. The Issuer shall provide the Trustee with an
appropriate notation on the Security about the changed terms and cause the
Trustee to return it to the Holder at the Issuer’s expense. Alternatively, if
the Issuer or the Trustee so determines, the Issuer in exchange for the
Security shall issue, and the Trustee shall authenticate, a new Security that
reflects the changed terms. Failure to make the appropriate notation or issue a
new Security shall not affect the validity and effect of such amendment,
supplement or waiver.

 

Section 9.06.          Trustee To Sign Amendments, Etc.

 

The Trustee shall execute any amendment, supplement
or waiver authorized pursuant to this Article Nine; provided,
however, that the Trustee may, but shall
not be obligated to, execute any such amendment, supplement or waiver which
affects the Trustee’s own rights, duties or immunities under this Indenture.
The Trustee shall be 

 

32

 

entitled to receive, and
shall be fully protected in relying upon, an Opinion of Counsel and an
Officers’ Certificate each stating that the execution of any amendment,
supplement or waiver authorized pursuant to this Article Nine is
authorized or permitted by this Indenture and constitutes legal, valid and
binding obligations of the Issuer enforceable in accordance with its terms,
subject to customary exceptions. Such Opinion of Counsel shall be at the
expense of the Issuer.

 

Section 9.07.          Trustee Protected.

 

In executing, or accepting the additional trusts
created by, any supplemental indenture permitted by this Article or the
modifications thereby of the trusts created by this Indenture, the Trustee
shall be entitled to receive, and (subject to Section 7.01) shall be fully
protected in relying upon, an Opinion of Counsel stating that the execution of
such supplemental indenture is authorized or permitted by this Indenture. The
Trustee shall sign all supplemental indentures hereto, except that the Trustee
need not sign any supplemental indenture that adversely affects its rights.

 

ARTICLE TEN

 

MISCELLANEOUS

 

Section 10.01.        Trust Indenture Act Controls.

 

If any provision of this Indenture limits,
qualifies, or conflicts with another provision which is required or deemed to
be included in this Indenture by the Trust Indenture Act, such required or
deemed provision shall control.

 

Section 10.02.        Notices.

 

Any notices or other communications to the Issuer,
any Subsidiary of the Issuer, or the Trustee required or permitted hereunder
shall be in writing, and shall be sufficiently given if made by hand delivery,
by nationally recognized overnight courier service, by facsimile transmission
or registered or certified mail, postage prepaid, return receipt requested,
addressed as follows:

 

if to the Issuer or any of its Subsidiaries:

 

Satcon Technology Corporation

27 Drydock Avenue

Boston, Massachusetts 02210

Attention: Chief Executive Officer

Telephone: (617) 897-2400

Facsimile: (617) 897-2401

 

With a copy to (which copy alone shall not
constitute notice):

 

Greenberg Traurig, LLP

One International Place

Boston, Massachusetts 02210

Attention: Bradley A. Jacobson, Esq.

Telephone: (617) 310-6000

Facsimile: (617) 310-6001

 

if to the Trustee:

 

33

 

                                                          

                                                          

Attention:                                          

Telephone:                                        

Facsimile:

 

Each of the Issuer (both for itself and any of its
Subsidiaries) and the Trustee by written notice to each other such Person may
designate additional or different addresses for notices to such Person. Any
notice or communication to the Issuer, any Subsidiary of the Issuer, and the
Trustee shall be deemed to have been given or made as of the date so delivered
if personally delivered; when replied to; when receipt is acknowledged, if sent
by facsimile transmission during normal business hours of the recipient, or, if
not sent during normal business hours of the recipient, on the Business Day
after the day receipt is acknowledged; five (5) calendar days after
mailing if sent by registered or certified mail, postage prepaid (except that a
notice of change of address shall not be deemed to have been given until
actually received by the addressee); one (1) Business Day after deposit
with a nationally recognized overnight courier service guaranteeing overnight
delivery of such notice or communication.

 

Any notice or communication to a Holder required or
permitted hereunder shall be mailed to the Holder at the Holder’s address as it
appears on the registration books of the Registrar and, if any Bearer
Securities are outstanding, published in an Authorized Newspaper.

 

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

 

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

 

Section 10.03.        Communications by Holders with Other
Holders.

 

Holders of any Series may communicate pursuant
to Trust Indenture Act § 312(b) with other Holders of that Series or
any other Series with respect to their rights under this Indenture or the
Securities of that Series or any other Series. The Issuer, the Trustee,
the Registrar and any other Person shall have the protection of Trust Indenture
Act § 312(c).

 

Section 10.04.        Certificate and Opinion as to
Conditions Precedent.

 

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

 

(1)           an
Officers’ Certificate, in form and substance reasonably satisfactory to the
Trustee, stating that all conditions precedent, if any, to be performed or
effected by the Issuer, if any, provided for in this Indenture relating to the
proposed action have been complied with; and

 

(2)           an
Opinion of Counsel, in form and substance reasonably satisfactory to the
Trustee, stating that, in the opinion of such counsel, all such conditions
precedent, if any, have been complied with.

 

Section 10.05.        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 the Officers’ Certificate required by Section 4.04 or a certificate
provided pursuant to Trust Indenture Act § 314(a)(4)) shall comply with the
provisions of Trust Indenture Act § 314(e) and shall include:

 

34

 

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

 

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

 

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

 

(4)           a
statement as to whether or not, in the opinion of each such Person, such
condition or covenant has been complied with; provided,
however, that with respect to matters of
fact, an Opinion of Counsel may rely on an Officers’ Certificate or
certificates of public officials.

 

Section 10.06.        Rules by Trustee and Agents.

 

The Trustee may make reasonable rules for
action by or a meeting of Holders of one or more Series. Any Agent may make
reasonable rules and set reasonable requirements for its functions.

 

Section 10.07.        Legal Holidays.

 

If a payment date is not a Business Day, payment may
be made on the next succeeding day that is a Business Day.

 

Section 10.08.        Governing Laws.

 

This Indenture, the Securities, and any guarantees
hereunder, will be governed by and construed in accordance with the laws of the
State of New York.

 

Section 10.09.        No Adverse Interpretation of Other
Agreements.

 

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

 

Section 10.10.        No Recourse Against Others.

 

No director, officer, employee, incorporator,
stockholder, member or manager of the Issuer or any Subsidiary shall have any
liability for any obligations of the Issuer or any Subsidiary under the
Securities of any Series or this Indenture or for any claim based on, in
respect of, or by reason of such obligations or their creation, and no Officer
shall have any personal liability for any Officers’ Certificate signed by such
Officer or any inaccuracy therein. Each Holder of Securities of any
Series by accepting such Securities waives and releases all such liability.
Such waiver and release shall be part of the consideration for issuance of such
Securities.

 

Section 10.11.        Successors.

 

All agreements of the Issuer or any Subsidiary in
this Indenture and the Securities shall bind their respective successors. All
agreements of the Trustee in this Indenture shall bind its successor.

 

Section 10.12.        Duplicate Originals.

 

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

 

35

 

Section 10.13.        Severability.

 

To the extent permitted by applicable law, in case
any one or more of the provisions in this Indenture or in the Securities shall
be held invalid, illegal or unenforceable, in any respect for any reason, the
validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions shall not in any way be affected or
impaired thereby, it being intended that all of the provisions hereof shall be
enforceable to the full extent permitted by law.

 

Section 10.14.        Securities in a Foreign Currency or
in ECU.

 

Unless otherwise specified in a Board Resolution, a
supplemental indenture hereto or an Officers’ Certificate delivered pursuant to
Section 2.02 of this Indenture with respect to a particular Series of
Securities, whenever for purposes of this Indenture any action may be taken by
the Holders of a specified percentage in aggregate principal amount of Securities
of all Series or all Series affected by a particular action at the
time outstanding and, at such time, there are outstanding Securities of any
Series which are denominated in a coin or currency other than Dollars
(including ECUs), then the principal amount of Securities of such
Series which shall be deemed to be outstanding for the purpose of taking
such action shall be that amount of Dollars that could be obtained for such
amount at the Market Exchange Rate at such time. For purposes of this
Section 10.14, “Market Exchange Rate”
shall mean the noon Dollar buying rate in New York City, New York for cable
transfers of that currency as published by the Federal Reserve Bank of New
York; provided, however,
in the case of ECUs, “Market Exchange Rate”
shall mean the rate of exchange determined by the Commission of the European
Union (or any successor thereto) as published in the Official Journal of the
European Union (such publication or any successor publication, the “Journal”). If such Market Exchange Rate is not available for
any reason with respect to such currency, the Trustee shall use, in its sole
discretion and without liability on its part, such quotation of the Federal
Reserve Bank of New York or, in the case of ECUs, the rate of exchange as
published in the Journal, as of the most recent available date, or quotations
or, in the case of ECUs, rates of exchange from one or more major banks in The
City of New York, New York or in the country of issue of the currency in
question or, in the case of ECUs, in Luxembourg or such other quotations or, in
the case of ECUs, rates of exchange as the Trustee, upon consultation with the
Issuer, shall deem appropriate. The provisions of this paragraph shall apply in
determining the equivalent principal amount in respect of Securities of a
Series denominated in currency other than Dollars in connection with any
action taken by Holders of Securities pursuant to the terms of this Indenture.

 

All decisions and determinations of the Trustee
regarding the Market Exchange Rate or any alternative determination provided
for in the preceding paragraph shall be in its sole discretion and shall, in
the absence of manifest error, to the extent permitted by law, be conclusive
for all purposes and irrevocably binding upon the Issuer and all Holders.

 

Section 10.15.        Judgment Currency.

 

The Issuer agrees, to the fullest extent that it may
effectively do so under applicable law, that (a) if for the purpose of
obtaining judgment in any court it is necessary to convert the sum due in
respect of the principal of or interest or other amount on the Securities of
any Series (the “Required Currency”)
into a currency in which a judgment will be rendered (the “Judgment
Currency”), the rate of exchange used shall be the rate at which in
accordance with normal banking procedures the Trustee could purchase in The
City of New York, New York the Required Currency with the Judgment Currency on
the day on which final unappealable judgment is entered, unless such day is not
a New York Banking Day, then the rate of exchange used shall be the rate at
which in accordance with normal banking procedures the Trustee could purchase
in The City of New York, New York the Required Currency with the Judgment
Currency on the New York Banking Day preceding the day on which final unappealable
judgment is entered and (b) its obligations under this Indenture to make
payments in the Required Currency (i) shall not be discharged or satisfied
by any tender, any recovery pursuant to any judgment (whether or not entered in
accordance with the preceding clause (a) of this Section 10.15), in
any currency other than the Required Currency, except to the extent that such
tender or recovery shall result in the actual receipt, by the payee, of the
full amount of the Required Currency expressed to be payable in respect of such
payments, (ii) shall be enforceable as an alternative or additional cause
of action for the purpose of recovering in the Required Currency the amount, if
any, by which such actual receipt shall fall short of the full amount of the
Required Currency so expressed to be payable, and (iii) shall not be
affected by judgment being obtained for any other sum due under this 

 

36

 

Indenture. For purposes of
the foregoing, “New York Banking Day” means any
day except a Saturday, Sunday or a legal holiday in The City of New York, New
York on which banking institutions are authorized or required by law,
regulation or executive order to close.

 

ARTICLE ELEVEN

 

SINKING FUNDS

 

Section 11.01.        Applicability of Article.

 

The provisions of this Article shall be
applicable to any sinking fund for the retirement of the Securities of a
Series, except as otherwise permitted or required by any form of Security of
such Series issued pursuant to this Indenture.

 

The minimum amount of any sinking fund payment
provided for by the terms of the Securities of any Series is herein
referred to as a “mandatory sinking fund
payment” and any other amount provided for by the terms of
Securities of such Series is herein referred to as an “optional sinking fund payment.” If provided for by the terms
of Securities of any Series, the cash amount of any sinking fund payment may be
subject to reduction as provided in Section 11.02. Each sinking fund
payment shall be applied to the redemption of Securities of any Series as
provided for by the terms of the Securities of such Series.

 

Section 11.02.        Satisfaction of Sinking Fund Payments
with Securities.

 

The Issuer may, in satisfaction of all or any part
of any sinking fund payment with respect to the Securities of any
Series to be made pursuant to the terms of such Securities
(1) deliver outstanding Securities of such Series to which such
sinking fund payment is applicable (other than any of such Securities
previously called for mandatory sinking fund redemption) and (2) apply as
credit Securities of such Series to which such sinking fund payment is
applicable and which have been repurchased by the Issuer or redeemed either at
the election of the Issuer pursuant to the terms of such Series of
Securities (except pursuant to any mandatory sinking fund) or through the
application of permitted optional sinking fund payments or other optional
redemptions pursuant to the terms of such Securities, provided
that such Securities have not been previously so credited. Such Securities
shall be received by the Trustee, together with an Officers’ Certificate with
respect thereto, not later than fifteen (15) days prior to the date on which
the Trustee begins the process of selecting Securities for redemption, and
shall be credited for such purpose by the Trustee at the price specified in
such Securities for redemption through operation of the sinking fund and the
amount of such sinking fund payment shall be reduced accordingly. If as a
result of the delivery or credit of Securities in lieu of cash payments
pursuant to this Section 11.02, the principal amount of Securities of such
Series to be redeemed in order to exhaust the aforesaid cash payment shall
be less than $100,000, the Trustee need not call Securities of such
Series for redemption, except upon receipt of an Issuer Order that such
action be taken, and such cash payment shall be held by the Trustee or a Paying
Agent and applied to the next succeeding sinking fund payment, provided, however, that the
Trustee or such Paying Agent shall from time to time upon receipt of an Issuer
Order pay over and deliver to the Issuer any cash payment so being held by the
Trustee or such Paying Agent upon delivery by the Issuer to the Trustee of
Securities of that Series purchased by the Issuer having an unpaid
principal amount equal to the cash payment required to be released to the
Issuer.

 

Section 11.03.        Redemption of Securities for Sinking
Fund.

 

Not less than forty-five (45) days (unless otherwise
indicated in the Board Resolution, supplemental indenture or Officers’
Certificate in respect of a particular Series of Securities) prior to each
sinking fund payment date for any Series of Securities, the Issuer will
deliver to the Trustee an Officers’ Certificate specifying the amount of the
next ensuing mandatory sinking fund payment for that Series pursuant to
the terms of that Series, the portion thereof, if any, which is to be satisfied
by payment of cash and the portion thereof, if any, which is to be satisfied by
delivering and crediting of Securities of that Series pursuant to
Section 11.02, and the optional amount, if any, to be added in cash to the
next ensuing mandatory sinking fund payment, and the Issuer shall thereupon be
obligated to pay the amount therein specified.

 

37

 

Not less than thirty (30) days (unless otherwise
indicated in the Board Resolution, supplemental indenture or Officers’
Certificate in respect of a particular Series of Securities) before each
such sinking fund payment date the Trustee shall select the Securities to be
redeemed upon such sinking fund payment date in the manner specified in
Section 3.02 and cause notice of the redemption thereof to be given in the
name of and at the expense of the Issuer in the manner provided in
Section 3.03. Such notice having been duly given, the redemption of such
Securities shall be made upon the terms and in the manner stated in Sections
3.04, 3.05 and 3.06.

 

IN WITNESS WHEREOF, the parties hereto have caused
this Indenture to be duly executed.

 

	
   

  	
  SATCON
  TECHNOLOGY CORPORATION,

  
	
   

  	
  as
  Issuer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Its:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  ,

  
	
   

  	
  as
  Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Its:

  

 

38

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]