Document:

Exhibit 10.1

 

COHERENT, INC.

 

EMPLOYEE STOCK PURCHASE PLAN

 

(as amended and restated February 6, 2008)

 

The following constitutes
the provisions of the Employee Stock Purchase Plan (herein called the “Plan”)
of Coherent, Inc. (herein called the “Company”).

 

1.             Purpose.  The purpose of the Plan is to provide
employees of the Company and its subsidiaries with an opportunity to purchase
Common Stock of the Company through payroll deductions.  It is the intention of the Company to have
the Plan qualify as an “Employee Stock Purchase Plan” under Section 423 of
the Internal Revenue Code of 1986.  The
provisions of the Plan shall, accordingly, be construed so as to extend and
limit participation in a manner consistent with the requirements of that Section of
the Code.

 

2.             Definitions.

 

(a)          “Base pay” or “base salary” means
regular straight-time earnings and commissions, excluding payments for
overtime, shift premiums, incentive compensation, bonuses and any other special
payments.

 

(b)         “Employee” means any person, including
an officer, who is customarily employed for at least twenty (20) hours per week
by the Company or its subsidiaries (50% or more of whose voting shares are
owned directly or indirectly by the Company).

 

3.             Eligibility.

 

(a)          Any employee as defined in paragraph 2
who shall be employed by the Company on the date his participation in the Plan
is effective shall be eligible to participate in the Plan, subject to
limitations imposed by Section 423(b) of the Internal Revenue Code of
1954.

 

(b)         Any provisions of the Plan to the
contrary notwithstanding, no employee shall be granted an option under the Plan
(i) if, immediately after the grant, such employee would own shares and/or
hold outstanding options to purchase stock possessing five percent (5%) or more
of the total combined voting power or value of the Company, or (ii) which
permits his rights to purchase shares under all employee stock purchase plans
of the Company and its subsidiaries to accrue at a rate which exceeds Twenty
Five Thousand Dollars ($25,000) for each calendar year in which such stock
option is outstanding at any time, where the value of the option is calculated
as the fair market value of the shares (determined at the time such option is
granted).

 

4.             Offering Dates.  The Plan shall be implemented by two
Offerings during each fiscal year, each of six months duration, with Offering I
commencing on or about May 1 of each year and Offering II commencing on or
about November 1 of each year; provided, however, that for the 2008
calendar year, Offering I shall commence on or about March 1, 2008, with a
duration of eight 

 

 

months, and that there
shall be no Offering commencing on or about May 1, 2008.  Both Offerings shall continue thereafter
until terminated in accordance with paragraph 19 hereof.

 

5.             Participation.

 

(a)          An eligible employee may become a
participant in the Plan by completing a subscription agreement authorizing
payroll deduction on the form provided by the Company and filing it with the
Company’s payroll office prior to the applicable offering date.

 

(b)         Payroll deductions for a participant
shall commence on the first payroll following the commencement offering date
and shall end on the termination date of the offering to which such
authorization is applicable, unless sooner terminated by the participant as
provided in paragraph 10.

 

6.             Payroll Deductions.

 

(a)          At the time a participant files his
subscription agreement, he shall elect to have payroll deductions made on each
payday during the offering period.  The
amount of payroll deductions elected to be made shall not be greater than ten
percent (10%) of the base pay which he received on such payday nor less than
ten dollars ($10.00) per pay period.

 

(b)         All payroll deductions made by a
participant shall be credited to his account under the Plan.  A participant may not make any additional
payments into such account.

 

(c)          A participant may discontinue his
participation in the Plan as provided in paragraph 10, or may lower, but not
increase, the rate of his payroll deductions (within the limitations set forth
in subparagraph (a) above) during the offering by completing or
filing with the Company a new authorization for payroll deduction.  The change in rate shall be effective within
fifteen (15) days following the Company’s receipt of the new authorization.

 

7.             Grant of Option.

 

(a)          At the beginning of each six month
offering period (and with respect to the offering period beginning on or about March 1,
2008, which shall be an eight month offering period), each eligible employee participating
in the Plan shall be granted an option to purchase (at the per share option
price) up to a number of shares of the Company’s Common Stock purchasable
by each employee’s accumulated payroll deductions (not to exceed ten percent
(10%) of his base salary) divided by eighty-five percent (85%) of the fair
market value of a share of the Company’s Common Stock at the beginning of said
offering period, subject to the limitations set forth in Section 3(b) and
12 hereof.  Fair market value of a share
of the Company’s Common Stock shall be determined as provided in Section 7(b) herein.

 

(b)         The option price per share of such
shares shall be the lower of:  (i) 85%
of the fair market value of a share of the Common Stock of the Company at the
commencement of the six month offering
period or, with respect to the offering period beginning on March 1, 2008,
at the commencement of the eight month offering period; or (ii) 85% of the
fair market value of a share of the Common Stock of the Company at the time the
option is exercised at the termination of the six 

 

2

 

month offering period or,
with respect to the offering period beginning on March 1, 2008, at the
termination of the eight month offering period. 
The fair market value of the Company’s Common Stock on said dates shall
be determined by the Company’s Board of Directors in the exercise of their
discretion in good faith.

 

8.             Exercise of Option.  Unless a participant withdraws from the Plan
as provided in paragraph 10, his option for the purchase of shares will be
exercised automatically at the end of the offering period, and the maximum
number of full shares subject to option will be purchased for him at the
applicable option price with the applicable amount of the accumulated payroll
deductions in his account.  During his
lifetime, a participant’s option to purchase shares hereunder is exercisable
only by him.

 

9.             Delivery.  As promptly as practicable after the
termination of each Offering, the Company shall arrange the delivery to each
participant, as appropriate, of a certificate representing the shares purchased
upon exercise of his option.  Any cash
remaining to the credit of a participant’s account under the Plan after a
purchase by him of shares at the termination of each offering period, or which
is insufficient to purchase a full share of Common Stock of the Company, shall
be returned to said participant.

 

10.           Withdrawal; Termination of
Employment.

 

(a)          A participant may withdraw all but not
less than all the payroll deductions credited to his account under the Plan for
one or both Offerings at any time prior to the end of the applicable offering
period by giving written notice to the Company. 
All of the participant’s payroll deductions credited to his account for
the Offering or Offerings from which he has withdrawn will be paid to him
promptly after receipt of his notice of withdrawal and his option for the
current period under the Offering or Offerings will be automatically
terminated, and no further payroll deductions for the purchase of shares under
the Offering or Offerings withdrawn from will be made during the applicable
offering period.

 

(b)         Upon termination of the participant’s
employment prior to the end of an offering period for any reason, including
retirement or death, the payroll deductions credited to his account will be
returned to him or, in the case of his death, to the person or persons entitled
thereto under paragraph 14, and his option will be automatically terminated.

 

(c)          In the event an employee fails to
remain in the continuous employ of the Company for at least twenty (20) hours
per week during the offering period in which the employee is a participant, he
will be deemed to have elected to withdraw from the Plan and the payroll deductions
credited to his account will be returned to him and his option terminated.

 

(d)         A participant’s withdrawal from one of
the two Offerings will not have any effect upon his eligibility to participate
in the other Offering or any succeeding Offering or in any similar plan which
may hereafter be adopted by the Company.

 

11.           Interest.  To the extent that a participant’s payroll
deductions exceed that amount required to purchase shares subject to option at
the end of an offering period, he shall be refunded 

 

3

 

such excess amount with
interest on said refundable amount at a net rate of 3%.  Otherwise, no interest shall accrue on the
payroll deductions of a participant in the Plan.

 

12.           Stock.

 

(a)          The maximum number of shares of the
Company’s Common Stock which shall be made available for sale under the Plan
shall be 6,325,000 shares, subject to adjustment upon changes in capitalization
of the Company as provided in paragraph 18. 
The shares to be sold to participants under the Plan may, at the
election of the Company, be either treasury shares or shares authorized but
unissued.  If the total number of shares
which would otherwise be subject to options granted pursuant to Section 7(a) hereof
at the beginning of an offering period exceeds the number of shares then
available under the Plan (after deduction of all shares for which options have
been exercised or are then outstanding), the Company shall make a pro rata
allocation of the shares remaining available for option grant in as uniform a
manner as shall be practicable and as it shall determine to be equitable.  In such event, the Company shall give written
notice of such reduction of the number of shares subject to the option to each
employee affected thereby and shall similarly reduce the rate of payroll
deductions, if necessary.

 

(b)         The participant will have no interest
or voting right in shares covered by his option until such option has been
exercised.

 

(c)          Shares to be delivered to a
participant under the Plan will be registered in the name of the participant or
in the name of the participant and his spouse.

 

13.           Administration.  The Plan shall be administered by the Board
of Directors of the Company or a committee appointed by the Board.  The administration, interpretation or
application of the Plan by the Board or its committee shall be final,
conclusive and binding upon all participants. 
Members of the Committee who are eligible employees are permitted to
participate in the Plan.

 

14.           Designation of Beneficiary.

 

(a)          A participant may file a written
designation of a beneficiary who is to receive any shares and cash, if any,
from the participant’s account under the Plan in the event of such participant’s
death subsequent to the end of the offering period but prior to delivery to him
of such shares and cash.  In addition, a
participant may file a written designation of a beneficiary who is to receive
any cash from the participant’s account under the Plan in the event of such
participant’s death prior to the end of an offering period.

 

(b)         Such designation of beneficiary may be
changed by the participant at any time by written notice.  In the event of the death of a participant
and in the absence of a beneficiary validly designated under the Plan who is
living at the time of such participant’s death, the Company shall deliver such
shares and/or cash to the executor or administrator of the estate of the
participant, or if no such executor or administrator has been appointed (to the
knowledge of the Company), the Company, in its discretion, may deliver such
shares and/or cash to the spouse or to any one or more dependents or relatives
of the participant, or if no spouse, dependent or relative is known to the
Company, then to such other person as the Company may designate.

 

4

 

15.           Transferability.  Neither payroll deductions credited a
participant’s account nor any rights with regard to the exercise of an option
or to receive shares under the Plan may be assigned, transferred, pledged or
otherwise disposed of in any way (other than by will, the laws of descent and
distribution or as provided in paragraph 14 hereof) by the
participant.  Any such attempt at
assignment, transfer, pledge or other disposition shall be without effect,
except that the Company may treat such act as an election to withdraw funds in
accordance with paragraph 10.

 

16.           Use of Funds.  All payroll deductions received or held by
the Company under the Plan may be used by the Company for any corporate purpose,
and the Company shall not be obligated to segregate such payroll deductions.

 

17.           Reports.  Individual accounts will be maintained for
each participant in the Plan.  Statements
of account will be given to participating employees annually promptly following
the stock purchase date, which statements will set forth the total amount of
payroll deductions, the amount applicable to each of the two Offerings, the per
share purchase price, the number of shares purchased and the remaining cash
balance, if any.

 

18.           Changes in Capitalization.  If any option under this Plan is exercised
subsequent to any stock dividend, stock split, spin-off, recapitalization,
merger, consolidation, exchange of shares or the like, occurring after such
option was granted, as a result of which shares of any class shall be issued in
respect of the outstanding shares, or shares shall be changed into the same,
whether a different number of the same or another class or classes, the number
of shares to which such option shall be applicable and the option price for
such shares shall be appropriately adjusted by the Company.

 

19.           Amendment or Termination.  The Board of Directors of the Company may at
any time terminate or amend the Plan.  No
such termination can affect options previously granted, nor may an amendment
make any change in any option theretofore granted which adversely affects the
rights of any participant, nor may an amendment be made without prior approval
of the shareholders of the Company if such amendment would:

 

(a)          Increase the number of shares that may
be issued under the plan;

 

(b)         Permit payroll deductions at an
aggregate rate in excess of ten percent (10%) of the participant’s base salary;

 

(c)          Change the designation of the
employees (or class of employees) eligible for participation in the Plan; or

 

(d)         Materially increase the benefits which
may accrue to participants under the Plan.

 

20.           Notices.  All notices or other communications by a
participant to the Company under or in connection with the Plan shall be deemed
to have been duly given when received in the form specified by the Company at
the location or by the person, designated by the Company for the receipt
thereof.

 

5Exhibit 4.10

 

SYNTA PHARMACEUTICALS CORP.

 

Issuer

 

AND

 

[                    ]

 

Trustee

 

INDENTURE

 

Dated as of [           ]

 

Senior Debt Securities

 

 

CROSS-REFERENCE TABLE (1)
 

	
  Section of

  	
   

  	
   

  	
   

  
	
  Trust Indenture Act

  	
   

  	
  Section of

  	
   

  
	
  of 1939, as Amended

  	
   

  	
  Indenture

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  310(a).

  	
   

  	
  7.09

  	
   

  
	
  310(b).

  	
   

  	
  7.08

  	
   

  
	
   

  	
   

  	
  7.10

  	
   

  
	
  310(c).

  	
   

  	
  Inapplicable

  	
   

  
	
  311(a).

  	
   

  	
  7.13(a)

  	
   

  
	
  311(b).

  	
   

  	
  7.13(b)

  	
   

  
	
  311(c).

  	
   

  	
  Inapplicable

  	
   

  
	
  312(a)

  	
   

  	
  5.02(a)

  	
   

  
	
  312(b).

  	
   

  	
  5.02(b)

  	
   

  
	
  312(c).

  	
   

  	
  5.02(c)

  	
   

  
	
  313(a).

  	
   

  	
  5.04(a)

  	
   

  
	
  313(b).

  	
   

  	
  5.04(a)

  	
   

  
	
  313(c).

  	
   

  	
  5.04(a)

  	
   

  
	
   

  	
   

  	
  5.04(b)

  	
   

  
	
  313(d).

  	
   

  	
  5.04(b)

  	
   

  
	
  314(a).

  	
   

  	
  5.03

  	
   

  
	
  314(b).

  	
   

  	
  Inapplicable

  	
   

  
	
  314(c).

  	
   

  	
  13.06

  	
   

  
	
  314(d).

  	
   

  	
  Inapplicable

  	
   

  
	
  314(e).

  	
   

  	
  13.06

  	
   

  
	
  314(f).

  	
   

  	
  Inapplicable

  	
   

  
	
  315(a).

  	
   

  	
  7.01(a)

  	
   

  
	
   

  	
   

  	
  7.02

  	
   

  
	
  315(b).

  	
   

  	
  6.07

  	
   

  
	
  315(c).

  	
   

  	
  7.01

  	
   

  
	
  315(d).

  	
   

  	
  7.01(b)

  	
   

  
	
   

  	
   

  	
  7.01(c)

  	
   

  
	
  315(e).

  	
   

  	
  6.07

  	
   

  
	
  316(a).

  	
   

  	
  6.06

  	
   

  
	
   

  	
   

  	
  8.04

  	
   

  
	
  316(b).

  	
   

  	
  6.04

  	
   

  
	
  316(c).

  	
   

  	
  8.01

  	
   

  
	
  317(a).

  	
   

  	
  6.02

  	
   

  
	
  317(b).

  	
   

  	
  4.03

  	
   

  
	
  318(a).

  	
   

  	
  13.08

  	
   

  

 

(1) This Cross-Reference
Table does not constitute part of the Indenture and shall not have any bearing
on the interpretation of any of its terms or provisions.

 

i

 

TABLE OF CONTENTS (2)

 

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  ARTICLE I

  	
  DEFINITIONS

  	
  1

  
	
   

  	
   

  	
   

  
	
  SECTION 1.01

  	
  Definitions
  of Terms

  	
  1

  
	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
  ISSUE,
  DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES

  	
  5

  
	
   

  	
   

  	
   

  
	
  SECTION 2.01

  	
  Designation
  and Terms of Securities

  	
  5

  
	
  SECTION 2.02

  	
  Form of
  Securities and Trustee’s Certificate

  	
  7

  
	
  SECTION 2.03

  	
  Denominations:
  Provisions for Payment

  	
  7

  
	
  SECTION 2.04

  	
  Execution
  and Authentications

  	
  9

  
	
  SECTION 2.05

  	
  Registration
  of Transfer and Exchange

  	
  10

  
	
  SECTION 2.06

  	
  Temporary
  Securities

  	
  11

  
	
  SECTION 2.07

  	
  Mutilated,
  Destroyed, Lost or Stolen Securities

  	
  11

  
	
  SECTION 2.08

  	
  Cancellation

  	
  12

  
	
  SECTION 2.09

  	
  Benefits of
  Indenture

  	
  12

  
	
  SECTION 2.10

  	
  Authenticating
  Agent

  	
  12

  
	
  SECTION 2.11

  	
  Global Securities

  	
  13

  
	
   

  	
   

  	
   

  
	
  ARTICLE III

  	
  REDEMPTION
  OF SECURITIES AND SINKING FUND PROVISIONS

  	
  14

  
	
   

  	
   

  	
   

  
	
  SECTION 3.01

  	
  Redemption

  	
  14

  
	
  SECTION 3.02

  	
  Notice of
  Redemption

  	
  14

  
	
  SECTION 3.03

  	
  Payment Upon
  Redemption

  	
  16

  
	
  SECTION 3.04

  	
  Sinking Fund

  	
  16

  
	
  SECTION 3.05

  	
  Satisfaction
  of Sinking Fund Payments with Securities

  	
  16

  
	
  SECTION 3.06

  	
  Redemption
  of Securities for Sinking Fund

  	
  17

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV

  	
  COVENANTS

  	
  17

  
	
   

  	
   

  	
   

  
	
  SECTION 4.01

  	
  Payment of
  Principal, Premium and Interest

  	
  17

  
	
  SECTION 4.02

  	
  Maintenance
  of Office or Agency

  	
  17

  
	
  SECTION 4.03

  	
  Paying
  Agents

  	
  18

  
	
  SECTION 4.04

  	
  Appointment
  to Fill Vacancy in Office of Trustee

  	
  19

  
	
  SECTION 4.05

  	
  Compliance
  with Consolidation Provisions

  	
  19

  
	
   

  	
   

  	
   

  
	
  ARTICLE V

  	
  SECURITYHOLDERS’
  LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

  	
  19

  
	
   

  	
   

  	
   

  
	
  SECTION 5.01

  	
  Company to Furnish
  Trustee Names and Addresses of Securityholders

  	
  19

  
	
  SECTION 5.02

  	
  Preservation
  Of Information; Communications With Securityholders

  	
  19

  
	
  SECTION 5.03

  	
  Reports by
  the Company

  	
  20

  
	
  SECTION 5.04

  	
  Reports by
  the Trustee

  	
  20

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI

  	
  REMEDIES OF
  THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

  	
  21

  
	
   

  	
   

  	
   

  
	
  SECTION 6.01

  	
  Events of
  Default

  	
  21

  
				

 

ii

 

	
  SECTION 6.02

  	
  Collection
  of Indebtedness and Suits for Enforcement by Trustee

  	
  23

  
	
  SECTION 6.03

  	
  Application
  of Moneys Collected

  	
  24

  
	
  SECTION 6.04

  	
  Limitation
  on Suits

  	
  25

  
	
  SECTION 6.05

  	
  Rights and
  Remedies Cumulative; Delay or Omission Not Waiver

  	
  25

  
	
  SECTION 6.06

  	
  Control by
  Securityholders

  	
  26

  
	
  SECTION 6.07

  	
  Undertaking
  to Pay Costs

  	
  26

  
	
   

  	
   

  	
   

  
	
  ARTICLE VII

  	
  CONCERNING
  THE TRUSTEE

  	
  27

  
	
   

  	
   

  	
   

  
	
  SECTION 7.01

  	
  Certain
  Duties and Responsibilities of Trustee

  	
  27

  
	
  SECTION 7.02

  	
  Certain
  Rights of Trustee

  	
  28

  
	
  SECTION 7.03

  	
  Trustee Not
  Responsible for Recitals or Issuance of Securities

  	
  29

  
	
  SECTION 7.04

  	
  May Hold
  Securities

  	
  30

  
	
  SECTION 7.05

  	
  Moneys Held
  in Trust

  	
  30

  
	
  SECTION 7.06

  	
  Compensation
  and Reimbursement

  	
  30

  
	
  SECTION 7.07

  	
  Reliance on
  Officers’ Certificate

  	
  31

  
	
  SECTION 7.08

  	
  Disqualification;
  Conflicting Interests

  	
  31

  
	
  SECTION 7.09

  	
  Corporate
  Trustee Required; Eligibility

  	
  31

  
	
  SECTION 7.10

  	
  Resignation
  and Removal; Appointment of Successor

  	
  31

  
	
  SECTION 7.11

  	
  Acceptance
  of Appointment By Successor

  	
  33

  
	
  SECTION 7.12

  	
  Merger,
  Conversion, Consolidation or Succession to Business

  	
  34

  
	
  SECTION 7.13

  	
  Preferential
  Collection of Claims Against the Company

  	
  35

  
	
   

  	
   

  	
   

  
	
  ARTICLE VIII

  	
  CONCERNING
  THE SECURITYHOLDERS

  	
  35

  
	
   

  	
   

  	
   

  
	
  SECTION 8.01

  	
  Evidence of
  Action by Securityholders

  	
  35

  
	
  SECTION 8.02

  	
  Proof of
  Execution by Securityholders

  	
  35

  
	
  SECTION 8.03

  	
  Who May be
  Deemed Owners

  	
  36

  
	
  SECTION 8.04

  	
  Certain
  Securities Owned by Company Disregarded

  	
  36

  
	
  SECTION 8.05

  	
  Actions
  Binding on Future Securityholders

  	
  36

  
	
  SECTION 8.06

  	
  Purposes for
  Which Meetings May Be Called

  	
  37

  
	
  SECTION 8.07

  	
  Call Notice
  and Place of Meetings

  	
  37

  
	
  SECTION 8.08

  	
  Persons
  Entitled To Vote at Meetings

  	
  37

  
	
  SECTION 8.09

  	
  Quorum;
  Action

  	
  38

  
	
  SECTION 8.10

  	
  Determination
  of Voting Rights; Conduct and Adjournment of Meetings

  	
  38

  
	
  SECTION 8.11

  	
  Counting
  Votes and Recording Action of Meetings

  	
  39

  
	
   

  	
   

  	
   

  
	
  ARTICLE IX

  	
  SUPPLEMENTAL
  INDENTURES

  	
  39

  
	
   

  	
   

  	
   

  
	
  SECTION 9.01

  	
  Supplemental
  Indentures Without the Consent of Securityholders

  	
  39

  
	
  SECTION 9.02

  	
  Supplemental
  Indentures With Consent of Securityholders

  	
  41

  
	
  SECTION 9.03

  	
  Effect of
  Supplemental Indentures

  	
  41

  
	
  SECTION 9.04

  	
  Execution of
  Supplemental Indentures

  	
  42

  
	
   

  	
   

  	
   

  
	
  ARTICLE X

  	
  SUCCESSOR
  ENTITY

  	
  42

  
	
   

  	
   

  	
   

  
	
  SECTION 10.01

  	
  Company May
  Consolidate, Etc.

  	
  42

  
	
  SECTION 10.02

  	
  Successor
  Entity Substituted

  	
  43

  
	
  SECTION 10.03

  	
  Evidence of
  Consolidation, Etc. to Trustee

  	
  43

  
	
   

  	
   

  	
   

  
	
  ARTICLE XI

  	
  SATISFACTION
  AND DISCHARGE

  	
  43

  
				

 

iii

 

	
  SECTION 11.01

  	
  Satisfaction
  and Discharge of Indenture

  	
  43

  
	
  SECTION 11.02

  	
  Discharge of
  Obligations

  	
  44

  
	
  SECTION 11.03

  	
  Deposited
  Moneys to be Held in Trust

  	
  44

  
	
  SECTION 11.04

  	
  Payment of
  Moneys Held by Paying Agents

  	
  44

  
	
  SECTION 11.05

  	
  Repayment to
  Company

  	
  45

  
	
   

  	
   

  	
   

  
	
  ARTICLE XII

  	
  IMMUNITY OF
  INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

  	
  45

  
	
   

  	
   

  	
   

  
	
  SECTION 12.01

  	
  No Recourse

  	
  45

  
	
   

  	
   

  	
   

  
	
  ARTICLE XIII

  	
  MISCELLANEOUS
  PROVISIONS

  	
  46

  
	
   

  	
   

  	
   

  
	
  SECTION 13.01

  	
  Effect on
  Successors and Assigns

  	
  46

  
	
  SECTION 13.02

  	
  Actions by
  Successor

  	
  46

  
	
  SECTION 13.03

  	
  Surrender of
  Company Powers

  	
  46

  
	
  SECTION 13.04

  	
  Notices

  	
  46

  
	
  SECTION 13.05

  	
  Governing
  Law

  	
  46

  
	
  SECTION 13.06

  	
  Treatment of
  Securities as Debt

  	
  47

  
	
  SECTION 13.07

  	
  Compliance
  Certificates and Opinions

  	
  47

  
	
  SECTION 13.08

  	
  Payments on
  Business Days

  	
  47

  
	
  SECTION 13.09

  	
  Conflict
  with Trust Indenture Act

  	
  47

  
	
  SECTION 13.10

  	
  Counterparts

  	
  48

  
	
  SECTION 13.11

  	
  Separability

  	
  48

  
	
  SECTION 13.12

  	
  Assignment

  	
  48

  
				

 

(2) This
Table of Contents does not constitute part of the Indenture and shall not have
any bearing on the interpretation of any of its terms and provisions.

 

iv

 

INDENTURE,
dated as of [          ], by
and between Synta Pharmaceuticals Corp., a Delaware corporation (the “Company”),
and [           ], as
trustee (the “Trustee”):

 

WHEREAS,
for its lawful corporate purposes, the Company has duly authorized the
execution and delivery of this Indenture to provide for the issuance of debt
securities (hereinafter referred to as the “Securities”), in an unlimited
aggregate principal amount to be issued from time to time in one or more series
as in this Indenture provided, as registered Securities without coupons, to be
authenticated by the certificate of the Trustee;

 

WHEREAS,
to provide the terms and conditions upon which the Securities are to be authenticated,
issued and delivered, the Company has duly authorized the execution of this
Indenture; and

 

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

 

NOW,
THEREFORE, in consideration of the premises and the purchase of the Securities
by the holders thereof, it is mutually covenanted and agreed as follows for the
equal and ratable benefit of the holders of Securities:

 

ARTICLE I

 

DEFINITIONS

 

SECTION 1.01               Definitions of Terms.

 

The
terms defined in this Section (except as in this Indenture otherwise
expressly provided or unless the context otherwise requires) for all purposes
of this Indenture and of any indenture supplemental hereto shall have the
respective meanings specified in this Section and shall include the plural
as well as the singular. All other terms used in this Indenture that are
defined in the Trust Indenture Act of 1939, as amended, or that are by
reference in such Act defined in the Securities Act of 1933, as amended (except
as herein otherwise expressly provided or unless the context otherwise
requires), shall have the meanings assigned to such terms in said Trust
Indenture Act and in said Securities Act as in force at the date of the
execution of this instrument.

 

“Authenticating
Agent” means an authenticating agent with respect to all or any of the series
of Securities appointed with respect to all or any series of the Securities by
the Trustee pursuant to Section 2.10.

 

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

 

“Board
of Directors” means the Board of Directors of the Company or any duly
authorized committee of such Board.

 

 

“Board
Resolution” means a copy of a resolution certified by the Secretary or an
Assistant Secretary of the Company to have been duly adopted by the Board of
Directors and to be in full force and effect on the date of such certification.

 

“Business
Day” means, with respect to any series of Securities, any day other than a day
on which Federal or State banking institutions in the Borough of Manhattan, the
City and State of New York, are authorized or obligated by law, executive order
or regulation to close.

 

“Certificate”
means a certificate signed by the principal executive officer, the principal
financial officer or the principal accounting officer of the Company. The
Certificate need not comply with the provisions of Section 13.07.

 

“Commission”
means the Securities and Exchange Commission.

 

“Company”
means the corporation named as the “Company” in the first paragraph of this
instrument until a successor corporation shall have become such pursuant to the
applicable provisions of this Indenture, and thereafter “Company” shall mean
such successor corporation.

 

“Corporate
Trust Office” means the office of the Trustee at which, at any particular time,
its corporate trust business shall be principally administered, which office at
the date hereof is located at [ ], except that whenever a provision herein
refers to an office or agency of the Trustee in the Borough of Manhattan, the
City and State of New York, such office is located, at the date hereof, at [ ].

 

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

 

“Default”
means an event which is, or after notice or lapse of time, or both, would
constitute an Event of Default.

 

“Depositary”
means, with respect to Securities of any series, for which the Company shall
determine that such Securities will be issued as a Global Security, The
Depository Trust Company, New York, New York, another clearing agency, or any
successor registered as a clearing agency under the Exchange Act, or other
applicable statute or regulation, which, in each case, shall be designated by
the Company pursuant to either Section 2.01 or Section 2.11.

 

“Event
of Default” means, with respect to Securities of a particular series, any event
specified in Section 6.01, continued for the period of time, if any,
therein designated.

 

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

 

“Global
Security” means, with respect to any series of Securities, a Security executed
by the Company and delivered by the Trustee to the Depositary or pursuant to
the Depositary’s instruction, all in accordance with this Indenture, which
shall be registered in the name of the Depositary or its nominee.

 

“Governmental
Obligations” means securities that are (i) direct obligations of the
United States of America for the payment of which its full faith and credit is
pledged or (ii) obligations of a 

 

2

 

Person
controlled or supervised by and acting as an agency or instrumentality of the
United States of America, the payment of which is unconditionally guaranteed as
a full faith and credit obligation by the United States of America that, in
either case, are non-callable at the option of the issuer thereof, and shall
also include a depositary receipt issued by a bank (as defined in Section 3(a)(2) of
the Securities Act of 1933, as amended) as custodian with respect to any such
Governmental Obligation or a specific payment of principal of or interest on
any such Governmental Obligation held by such custodian for the account of the
holder of such depositary receipt; provided, however, that (except as required
by law) such custodian is not authorized to make any deduction from the amount
payable to the holder of such depositary receipt from any amount received by
the custodian in respect of the Governmental Obligation or the specific payment
of principal of or interest on the Governmental Obligation evidenced by such
depositary receipt.

 

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

 

“Indenture”
means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into in accordance with the terms hereof.

 

“Interest
Payment Date,” when used with respect to any installment of interest on a
Security of a particular series, means the date specified in such Security or
in a Board Resolution or in an indenture supplemental hereto with respect to
such series as the fixed date on which an installment of interest with respect
to Securities of that series is due and payable.

 

“Officers’
Certificate” means a certificate signed by the President or a Vice President
and by the Chief Financial Officer, the Treasurer or an Assistant Treasurer or
the Controller or an Assistant Controller or the Secretary or an Assistant
Secretary of the Company that is delivered to the Trustee in accordance with
the terms hereof. Certificate shall include the statements provided for in Section 13.07,
if and to the extent required by the provisions thereof.

 

“Opinion
of Counsel” means a written opinion of counsel, who may be counsel to the
Company (and may include directors or employees of the Company) and which
opinion is acceptable to the Trustee which acceptance shall not be unreasonably
withheld.

 

“Outstanding”,
when used with reference to Securities of any series, means, subject to the
provisions of Section 8.04, as of any particular time, all Securities of
that series theretofore authenticated and delivered by the Trustee under this
Indenture, except (a) Securities theretofore canceled by the Trustee or
any paying agent, or delivered to the Trustee or any paying agent for
cancellation or that have previously been canceled; (b) Securities or
portions thereof for the payment or redemption of which moneys or Governmental
Obligations in the necessary amount shall have been deposited in trust with the
Trustee or with any paying agent (other than the Company) or shall have been
set aside and segregated in trust by the Company (if the Company shall act as
its own paying agent); provided, however, that if such Securities or portions
of such Securities are to be redeemed prior to the maturity thereof, notice of
such redemption shall have been given as in Article III provided, or
provision satisfactory to the Trustee shall have been 

 

3

 

made
for giving such notice; and (c) Securities in lieu of or in substitution
for which other Securities shall have been authenticated and delivered pursuant
to the terms of Section 2.07.

 

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

 

“Predecessor
Security” of any particular Security means every previous Security evidencing
all or a portion of the same debt as that evidenced by such particular
Security; and, for the purposes of this definition, any Security authenticated
and delivered under Section 2.07 in lieu of a mutilated, destroyed, lost
or stolen Security shall be deemed to evidence the same debt as the mutilated,
destroyed, lost or stolen Security.

 

“Responsible
Officer,” when used with respect to the Trustee, means any officer of the
Trustee, including any vice president, assistant vice president, secretary,
assistant secretary, the treasurer, any assistant treasurer, the managing
director or any other officer of the Trustee customarily performing functions
similar to those performed by any of the above designated officers and also
means, with respect to a particular corporate trust matter, any other officer
to whom such matter is referred because of such officer’s knowledge of and
familiarity with the particular subject.

 

“Securities”
means the debt Securities authenticated and delivered under this Indenture.

 

“Security
Register” has the meaning specified in Section 2.05.

 

“Security
Registrar” has the meaning specified in Section 2.05.

 

“Securityholder,”
“holder of Securities,” “registered holder,” or other similar term, means the
Person or Persons in whose name or names a particular Security shall be
registered in the Security Register.

 

“Subsidiary”
means, with respect to any Person, (i) any corporation at least a majority
of whose outstanding Voting Stock shall at the time be owned, directly or
indirectly, by such Person or by one or more of its Subsidiaries or by such
Person and one or more of its Subsidiaries, (ii) any general partnership,
joint venture or similar entity, at least a majority of whose outstanding
partnership or similar interests shall at the time be owned by such Person, or
by one or more of its Subsidiaries, or by such Person and one or more of its
Subsidiaries and (iii) any limited partnership of which such Person or any
of its Subsidiaries is a general partner.

 

“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
such successor Trustee. The term “Trustee” as used with respect to a particular
series of the Securities shall mean the trustee with respect to that series.

 

“Trust
Indenture Act” means the Trust Indenture Act of 1939, as amended, subject to
the provisions of Sections 9.01, 9.02, and 10.01, as in effect at the date of
execution of this instrument; provided, however, that in the event the Trust
Indenture Act is amended after such 

 

4

 

date,
Trust Indenture Act means, to the extent required by such amendment, the Trust
Indenture Act of 1939, as so amended, or any successor statute.

 

“Voting
Stock,” as applied to any Person, means shares, interests, participations or
other equivalents in the equity interest (however designated) in such Person
having ordinary voting power for the election of a majority of the directors
(or the equivalent) of such Person, other than shares, interests,
participations or other equivalents having such power only by reason of the
occurrence of a contingency.

 

ARTICLE II

 

ISSUE, DESCRIPTION, TERMS, EXECUTION,

REGISTRATION AND EXCHANGE OF SECURITIES

 

SECTION 2.01               Designation and
Terms of Securities.

 

(a)           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 up to the aggregate principal amount of Securities of that
series from time to time authorized by
or pursuant to a Board Resolution of the Company or pursuant to one or more
indentures supplemental hereto. Prior to the initial issuance of Securities of
a given series, there shall be established in or pursuant to a Board Resolution
of the Company, and set forth in an Officers’ Certificate of the Company, or
established in one or more indentures supplemental hereto:

 

(1)           the title of the Security of the series
(which shall distinguish the Securities of the series from all other
Securities);

 

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

 

(3)           the currency or units based on or relating
to currencies in which debt securities of such series are denominated and the
currency or units in which principal or interest or both will or may be
payable;

 

(4)           the date or dates on which the principal of
the Securities of the series is payable and the place(s) of payment;

 

(5)           the rate or rates at which the Securities of
the series shall bear interest or the manner of calculation of such rate or
rates, if any;

 

(6)           the date or dates from which such interest
shall accrue, the Interest Payment Dates on which such interest will be payable
or the manner of determination of such Interest Payment Dates, the place(s) of
payment, 

 

5

 

and the record date for the determination of holders to whom interest
is payable on any such Interest Payment Dates or the method for determining
such dates;

 

(7)           the right,
if any, to extend the interest payment periods or to defer the payment of
interest and the duration of such
extension;

 

(8)           the period
or periods within which, the price or prices at which and the terms and
conditions upon which, Securities of the series may be redeemed, in whole or in part, at the option of the Company;

 

(9)           the
obligation, if any, of the Company to redeem or purchase Securities of the
series pursuant to any sinking fund or analogous provisions (including payments
made in cash in satisfaction of future sinking fund obligations) or at the option of a holder thereof and the period or
periods within which, the price or prices at which, and the terms and
conditions upon which, Securities of the series shall be redeemed or purchased,
in whole or in part, pursuant to such obligation;

 

(10)         whether or not the debt securities will be
secured or unsecured, and the terms of any secured debt;

 

(11)         the form of the Securities of the series
including the form of the Certificate of Authentication for such series;

 

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

 

(13)         any and all
other terms with respect to such series (which terms shall not be inconsistent
with the terms of this Indenture, as amended by any supplemental indenture)
including any terms which may be required by or advisable under United States laws or regulations or advisable in
connection with the marketing of Securities of that series;

 

(14)         whether the Securities are issuable as a
Global Security and, in such case, the identity of the Depositary for such
series;

 

(15)         whether the Securities will be convertible
into shares of common stock or other securities of the Company and, if so, the
terms and conditions upon which such Securities will be so convertible,
including the conversion price and the conversion period;

 

(16)         if other than the principal amount thereof,
the portion of the principal amount of Securities of the series which shall be
payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01;
and

 

(17)         any additional or different Events of Default
or restrictive covenants 

 

6

 

provided for with respect to the Securities of the series.

 

All
Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to any such
Board Resolution or in any indentures supplemental hereto.

 

If
any of the terms of the series are established by action taken pursuant to a
Board Resolution of the Company, a copy of an appropriate record of such action
shall be certified by the Secretary or an Assistant Secretary of the Company and
delivered to the Trustee at or prior to the delivery of the Officers’
Certificate of the Company setting forth the terms of the series.

 

Securities
of any particular series may be issued at various times, with different dates
on which the principal or any installment of principal is payable, with
different rates of interest, if any, or different methods by which rates of
interest may be determined, with different dates on which such interest may be
payable and with different redemption dates.

 

SECTION 2.02               Form of
Securities and Trustee’s Certificate.

 

The
Securities of any series and the Trustee’s certificate of authentication to be
borne by such Securities shall be substantially of the tenor and purport as set
forth in one or more indentures supplemental hereto or as provided in a Board
Resolution of the Company and as set forth in an Officers’ Certificate of the
Company and the and may have such letters, numbers or other marks of
identification or designation and such legends or endorsements printed, lithographed
or engraved thereon as the Company may deem appropriate and as are not
inconsistent with the provisions of this Indenture, or as may be required to
comply with any law or with any rule or regulation made pursuant thereto
or with any rule or regulation of any stock exchange on which Securities
of that series may be listed, or to conform to usage.

 

SECTION 2.03               Denominations:  Provisions for Payment.

 

The
Securities shall be issuable as registered Securities and in the denominations
of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject
to Section 2.01(a)(12).  The
Securities of a particular series shall bear interest payable on the dates and
at the rate specified with respect to that series.  The principal of and the interest on the
Securities of any series, as well as any premium thereon in case of redemption
thereof prior to maturity, shall be payable in the coin or currency of the
United States of America that at the time is legal tender for public and
private debt, at the office or agency of the Company maintained for that
purpose in the Borough of Manhattan, the City and State of New York. Each
Security shall be dated the date of its authentication.  Interest on the Securities shall be computed
on the basis of a 360-day year composed of twelve 30-day months.

 

The
interest installment on any Security that is payable, and is punctually paid or
duly provided for, on any Interest Payment Date for Securities of that series
shall be paid to the Person in whose name said Security (or one or more
Predecessor Securities) is registered at the close of business on the regular
record date for such interest installment. 
In the event that any Security of a particular series or portion thereof
is called for redemption and the redemption date is subsequent to a regular
record date with respect to any Interest Payment Date and prior to such 

 

7

 

Interest
Payment Date, interest on such Security will be paid upon presentation and
surrender of such Security as provided in Section 3.03.

 

Any
interest on any Security that is payable, but is not punctually paid or duly
provided for, on any Interest Payment Date for Securities of the same series
(herein called “Defaulted Interest”) shall forthwith cease to be payable to the
registered holder on the relevant regular record date by virtue of having been
such holder; and such Defaulted Interest shall be paid by the Company, at its
election, as provided in clause (1) or clause (2) below:

 

(1)           The Company may make payment of any
Defaulted Interest on Securities to the Persons in whose names such Securities
(or their respective Predecessor Securities) are registered at the close of
business on a special record date for the payment of such Defaulted Interest,
which shall be fixed in the following manner: 
the Company shall notify the Trustee in writing of the amount of
Defaulted Interest proposed to be paid on each such Security and the date of
the proposed payment, and at the same time the Company shall deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or shall make arrangements satisfactory to
the Trustee for such deposit prior to the date of the proposed payment, such
money when deposited to be held in trust for the benefit of the Persons
entitled to such Defaulted Interest as in this clause provided.  Thereupon the Trustee shall fix a special
record date for the payment of such Defaulted Interest which shall not be more
than 15 nor less than 10 days prior to the date of the proposed payment and not
less than 10 days after the receipt by the Trustee of the notice of the
proposed payment.  The Trustee shall
promptly notify the Company of such special record date and, in the name and at
the expense of the Company, shall cause notice of the proposed payment of such
Defaulted Interest and the special record date therefor to be mailed, first
class postage prepaid, to each Securityholder at his or her address as it
appears in the Security Register, not less than 10 days prior to such special
record date.  Notice of the proposed
payment of such Defaulted Interest and the special record date therefor having
been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons
in whose names such Securities (or their respective Predecessor Securities) are
registered on such special record date.

 

(2)           The Company may make payment of any
Defaulted Interest on any Securities in any other lawful manner not
inconsistent with the requirements of any securities exchange on which such
Securities may be listed, and upon such notice as may be required by such
exchange, if, after notice given by the Company to the Trustee of the proposed
payment pursuant to this clause, such manner of payment shall be deemed
practicable by the Trustee.

 

Unless
otherwise set forth in a Board Resolution of the Company or one or more
indentures supplemental hereto establishing the terms of any series of
Securities pursuant to Section 2.01 

 

8

 

hereof,
the term “regular record date” as used in this Section with respect to a
series of Securities with respect to any Interest Payment Date for such series
shall mean either the fifteenth day of the month immediately preceding the
month in which an Interest Payment Date established for such series pursuant to
Section 2.01 hereof shall occur, if such Interest Payment Date is the
first day of a month, or the last day of the month immediately preceding the
month in which an Interest Payment Date established for such series pursuant to
Section 2.01 hereof shall occur, if such Interest Payment Date is the
fifteenth day of a month, whether or not such date is a Business Day.

 

Subject
to the foregoing provisions of this Section, each Security of a series
delivered under this Indenture upon transfer of or in exchange for or in lieu
of any other Security of such series shall carry the rights to interest accrued
and unpaid, and to accrue, that were carried by such other Security.

 

SECTION 2.04               Execution and
Authentications.

 

The
Securities shall be signed on behalf of the Company by its President, or one of
its Vice Presidents, or its Treasurer, or one of its Assistant Treasurers, or
its Secretary, or one of its Assistant Secretaries, under its corporate seal
attested by its Secretary or one of its Assistant Secretaries. Signatures may
be in the form of a manual or facsimile signature.  The Company may use the facsimile signature
of any Person who shall have been a President or Vice President thereof, or of
any Person who shall have been a Treasurer or Assistant Treasurer thereof, or
of any Person who shall have been a Secretary or Assistant Secretary thereof,
notwithstanding the fact that at the time the Securities shall be authenticated
and delivered or disposed of such Person shall have ceased to be the President
or a Vice President, the Treasurer or an Assistant Treasurer or the Secretary
or an Assistant Secretary, of the Company. 
The seal of the Company may be in the form of a facsimile of such seal
and may be impressed, affixed, imprinted or otherwise reproduced on the
Securities.  The Securities may contain
such notations, legends or endorsements required by law, stock exchange rule or
usage. Each Security shall be dated the date of its authentication.

 

A
Security shall not be valid or obligatory for any purpose and shall not be
entitled to any benefit under this Indenture, in each case, until authenticated
with a certificate of authentication manually signed by an authorized signatory
of the Trustee, or by an Authenticating Agent. 
Such certificate shall be conclusive evidence, and the only evidence,
that the Security so authenticated has been duly authenticated and delivered
hereunder and that the Security is entitled to the benefits of this
Indenture.  At any time and from time to
time after the execution and delivery of this Indenture, the Company may
deliver Securities of any series executed by the Company to the Trustee for
authentication, together with a written order of the Company for the
authentication and delivery of such Securities, signed by its President or any
Vice President and its Secretary or any Assistant Secretary, and the Trustee in
accordance with such written order shall authenticate and deliver such
Securities.

 

In
authenticating such Securities and accepting the additional responsibilities
under this Indenture in relation to such Securities, 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 form and
terms thereof have been established in conformity with the provisions of this
Indenture.

 

9

 

The
Trustee shall not be required to authenticate such Securities if the issue of
such Securities pursuant to this Indenture will affect the Trustee’s own
rights, duties or immunities under the Securities and this Indenture or
otherwise in a manner that is not reasonably acceptable to the Trustee.

 

SECTION 2.05               Registration of
Transfer and Exchange.

 

(a)           Securities
of any series may be exchanged upon presentation thereof at the office or
agency of the Company designated for such purpose in the Borough of Manhattan,
the City and State of New York, for other Securities of such series of authorized
denominations, and for a like aggregate principal amount, upon payment of a sum
sufficient to cover any tax or other governmental charge in relation thereto,
all as provided in this Section.  In
respect of any Securities so surrendered for exchange, the Company shall
execute, the Trustee shall authenticate and such office or agency shall deliver
in exchange therefor the Security or Securities of the same series that the
Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously
outstanding.

 

(b)           The Company shall keep, or cause to be kept,
at its office or agency designated for such purpose in the Borough of
Manhattan, the City and State of New York, or such other location designated by
the Company a register or registers (herein referred to as the “Security
Register”) in which, subject to such reasonable regulations as it may
prescribe, the Company shall register the Securities and the transfers of
Securities as in this Article provided and which at all reasonable times
shall be open for inspection by the Trustee. 
The registrar for the purpose of registering Securities and transfer of
Securities as herein provided shall be appointed as authorized by Board
Resolution (the “Security Registrar”).

 

Upon
surrender for transfer of any Security at the office or agency of the Company
designated for such purpose, the Company shall execute, the Trustee shall
authenticate and such office or agency shall deliver in the name of the
transferee or transferees a new Security or Securities of the same series as
the Security presented for a like aggregate principal amount.

 

All
Securities presented or surrendered for exchange or registration of transfer,
as provided in this Section, shall be accompanied (if so required by the
Company or the Security Registrar) by a written instrument or instruments of
transfer, in form satisfactory to the Company or the Security Registrar, duly
executed by the registered holder or by such holder’s duly authorized attorney
in writing.

 

(c)           No service charge shall be made for any
exchange or registration of transfer of Securities, or issue of new Securities
in case of partial redemption of any series, but the Company may require
payment of a sum sufficient to cover any tax or other governmental charge in
relation thereto, other than exchanges pursuant to Section 2.06, Section 3.03(b) and
Section 9.04 not involving any transfer.

 

10

 

(d)           The Company shall not be required (i) to
issue, exchange or register the transfer of any Securities during a period
beginning at the opening of business 15 days before the day of the mailing of a
notice of redemption of less than all the Outstanding Securities of the same
series and ending at the close of business on the day of such mailing, nor (ii) to
register the transfer of or exchange any Securities of any series or portions
thereof called for redemption.  The
provisions of this Section 2.05 are, with respect to any Global Security,
subject to Section 2.11 hereof.

 

SECTION 2.06               Temporary
Securities.

 

Pending
the preparation of definitive Securities of any series, the Company may
execute, and the Trustee shall authenticate and deliver, temporary Securities
(printed, lithographed or typewritten) of any authorized denomination. Such
temporary Securities shall be substantially in the form of the definitive
Securities in lieu of which they are issued, but with such omissions,
insertions and variations as may be appropriate for temporary Securities, all
as may be determined by the Company. 
Every temporary Security of any series shall be executed by the Company
and be authenticated by the Trustee upon the same conditions and in
substantially the same manner, and with like effect, as the definitive
Securities of such series.  Without
unnecessary delay the Company will execute and will furnish definitive
Securities of such series and thereupon any or all temporary Securities of such
series may be surrendered in exchange therefor (without charge to the holders),
at the office or agency of the Company designated for the purpose in the
Borough of Manhattan, the City and State of New York, and the Trustee shall
authenticate and such office or agency shall deliver in exchange for such
temporary Securities an equal aggregate principal amount of definitive
Securities of such series, unless the Company advises the Trustee to the effect
that definitive Securities need not be executed and furnished until further
notice from the Company.  Until so exchanged,
the temporary Securities of such series shall be entitled to the same benefits
under this Indenture as definitive Securities of such series authenticated and
delivered hereunder.

 

SECTION 2.07               Mutilated,
Destroyed, Lost or Stolen Securities.

 

In
case any temporary or definitive Security shall become mutilated or be
destroyed, lost or stolen, the Company (subject to the next succeeding
sentence) shall execute, and upon the Company’s request the Trustee (subject as
aforesaid) shall authenticate and deliver, a new Security of the same series,
bearing a number not contemporaneously outstanding, in exchange and
substitution for the mutilated Security, or in lieu of and in substitution for
the Security so destroyed, lost or stolen. 
In every case the applicant for a substituted Security shall furnish to
the Company and the Trustee such security or indemnity as may be required by
them to save each of them harmless, and, in every case of destruction, loss or
theft, the applicant shall also furnish to the Company and the Trustee evidence
to their satisfaction of the destruction, loss or theft of the applicant’s
Security and of the ownership thereof. 
The Trustee may authenticate any such substituted Security and deliver
the same upon the written request or authorization of any officer of the Company.  Upon the issuance of any substituted
Security, the Company may require the payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in relation thereto and
any other expenses (including the fees and expenses of the Trustee) connected
therewith. In case any Security that has matured or is about to mature shall
become 

 

11

 

mutilated
or be destroyed, lost or stolen, the Company may, instead of issuing a
substitute Security, pay or authorize the payment of the same (without
surrender thereof except in the case of a mutilated Security) if the applicant
for such payment shall furnish to the Company and the Trustee such security or
indemnity as they may require to save them harmless, and, in case of
destruction, loss or theft, evidence to the satisfaction of the Company and the
Trustee of the destruction, loss or theft of such Security and of the ownership
thereof.

 

Every
replacement Security issued pursuant to the provisions of this Section shall
constitute an additional contractual obligation of the Company whether or not
the mutilated, destroyed, lost or stolen Security shall be found at any time,
or be enforceable by anyone, and shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Securities of the
same series duly issued hereunder.  All
Securities shall be held and owned upon the express condition that the
foregoing provisions are exclusive with respect to the replacement or payment
of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the
extent lawful) any and all other rights or remedies, notwithstanding any law or
statute existing or hereafter enacted to the contrary with respect to the
replacement or payment of negotiable instruments or other securities without
their surrender.

 

SECTION 2.08               Cancellation.

 

All
Securities surrendered for the purpose of payment, redemption, exchange or
registration of transfer shall, if surrendered to the Company or any paying
agent, be delivered to the Trustee for cancellation, or, if surrendered to the
Trustee, shall be cancelled by it, and no Securities shall be issued in lieu
thereof except as expressly required or permitted by any of the provisions of
this Indenture. On request of the Company at the time of such surrender, the
Trustee shall deliver to the Company canceled Securities held by the
Trustee.  In the absence of such request
the Trustee may dispose of canceled Securities in accordance with its standard procedures
and deliver a certificate of disposition to the Company.  If the Company shall otherwise acquire any of
the Securities, however, such acquisition shall not operate as a redemption or
satisfaction of the indebtedness represented by such Securities unless and
until the same are delivered to the Trustee for cancellation.

 

SECTION 2.09               Benefits of
Indenture.

 

Nothing
in this Indenture or in the Securities, express or implied, shall give or be
construed to give to any Person, other than the parties hereto and the holders
of the Securities any legal or equitable right, remedy or claim under or in
respect of this Indenture, or under any covenant, condition or provision herein
contained; all such covenants, conditions and provisions being for the sole benefit
of the parties hereto and of the holders of the Securities.

 

SECTION 2.10               Authenticating
Agent.

 

So
long as any of the Securities of any series remain Outstanding there may be an
Authenticating Agent for any or all such series of Securities which the Trustee
shall have the right to appoint.  Said
Authenticating Agent shall be authorized to act on behalf of the Trustee to
authenticate Securities of such series issued upon exchange, transfer or
partial redemption thereof, and Securities so authenticated shall be entitled
to the benefits of this Indenture and shall be valid and 

 

12

 

obligatory
for all purposes as if authenticated by the Trustee hereunder.  All references in this Indenture to the
authentication of Securities by the Trustee shall be deemed to include
authentication by an Authenticating Agent for such series.  Each Authenticating Agent shall be acceptable
to the Company and shall be a corporation that has a combined capital and
surplus, as most recently reported or determined by it, sufficient under the
laws of any jurisdiction under which it is organized or in which it is doing
business to conduct a trust business, and that is otherwise authorized under
such laws to conduct such business and is subject to supervision or examination
by Federal or State authorities.  If at
any time any Authenticating Agent shall cease to be eligible in accordance with
these provisions, it shall resign immediately.

 

Any
Authenticating Agent may at any time resign by giving written notice of
resignation to the Trustee and to the Company. 
The Trustee may at any time (and upon request by the Company shall)
terminate the agency of any Authenticating Agent by giving written notice of
termination to such Authenticating Agent and to the Company.  Upon resignation, termination or cessation of
eligibility of any Authenticating Agent, the Trustee may appoint an eligible
successor Authenticating Agent acceptable to the Company.  Any successor Authenticating Agent, upon
acceptance of its appointment hereunder, shall become vested with all the
rights, powers and duties of its predecessor hereunder as if originally named
as an Authenticating Agent pursuant hereto.

 

SECTION 2.11               Global Securities

 

(a)           If the Company shall establish pursuant to Section 2.01
that some or all of the Securities of a particular series are to be issued as a
Global Security, then the Company shall execute and the Trustee shall, in
accordance with Section 2.04, authenticate and deliver, a Global Security
that (i) shall represent, and shall be denominated in an amount equal to
the aggregate principal amount of, the Outstanding Securities of such series
which are to be issued as a Global Security, (ii) shall be registered in
the name of the Depositary or its nominee, (iii) shall be delivered by the
Trustee to the Depositary or pursuant to the Depositary’s instruction and (iv) shall
bear a legend substantially to the following effect:  “Except as otherwise provided in Section 2.11
of the Indenture, this Security may be transferred, in whole but not in part,
only to another nominee of the Depositary or to a successor Depositary or to a
nominee of such successor Depositary.”

 

(b)           Notwithstanding the provisions of Section 2.05,
the Global Security of a series may be transferred, in whole but not in part
and in the manner provided in Section 2.05, only to another nominee of the
Depositary for such series, or to a successor Depositary for such series
selected or approved by the Company or to a nominee of such successor Depositary.

 

(c)           If at any
time the Depositary for a series of the Securities notifies the Company that it
is unwilling or unable to continue as Depositary for such series or if at any
time the Depositary for such series shall no longer be registered or in good
standing under the Exchange Act, or
other applicable statute or regulation, and a successor Depositary for such
series is not appointed by the Company within 90 days after the Company
receives such notice or becomes aware of such condition, 

 

13

 

as
the case may be, this Section 2.11 shall no longer be applicable to the
Securities of such series and the Company will execute, and subject to Section 2.05,
the Trustee will authenticate and deliver the Securities of such series in
definitive registered form without coupons, in authorized denominations, and in
an aggregate principal amount equal to the principal amount of the Global
Security of such series in exchange for such Global Security.  In addition, the Company may at any time
determine that the Securities of any series shall no longer be represented by a
Global Security and that the provisions of this Section 2.11 shall no
longer apply to the Securities of such series. 
In such event the Company will execute and subject to Section 2.05,
the Trustee, upon receipt of an Officers’ Certificate evidencing such
determination by the Company, will authenticate and deliver the Securities of
such series in definitive registered form without coupons, in authorized
denominations, and in an aggregate principal amount equal to the principal
amount of the Global Security of such series in exchange for such Global
Security.  Upon the exchange of the
Global Security for such Securities in definitive registered form without
coupons, in authorized denominations, the Global Security shall be canceled by
the Trustee. Such Securities in definitive registered form issued in exchange
for the Global Security pursuant to this Section 2.11(c) shall be
registered in such names and in such authorized denominations as the
Depositary, pursuant to instructions from its direct or indirect participants
or otherwise, shall instruct the Trustee. 
The Trustee shall deliver such Securities to the Depositary for delivery
to the Persons in whose names such Securities are so registered.

 

ARTICLE III

 

REDEMPTION OF SECURITIES AND SINKING

FUND PROVISIONS

 

SECTION 3.01               Redemption.

 

The
Company may redeem the Securities of any series issued hereunder on and after
the dates and in accordance with the terms established for such series pursuant
to Section 2.01 hereof.

 

SECTION 3.02               Notice of
Redemption.

 

(a)           In case the Company shall desire to exercise
such right to redeem all or, as the case may be, a portion of the Securities of
any series in accordance with the right reserved so to do, the Company shall,
or shall cause the Trustee to, give notice of such redemption to holders of the
Securities of such series to be redeemed by mailing, first class postage
prepaid, a notice of such redemption not less than 30 days and not more than 90
days before the date fixed for redemption of that series to such holders at
their last addresses as they shall appear upon the Security Register unless a
shorter period is specified in the Securities to be redeemed.  Any notice that is mailed in the manner
herein provided shall be conclusively presumed to have been duly given, whether
or not the registered holder receives the notice.  In any case, failure duly to give such notice
to the holder of any 

 

14

 

Security of any series designated for redemption in whole or in part,
or any defect in the notice, shall not affect the validity of the proceedings
for the redemption of any other Securities of such series or any other series.  In the case of any redemption of Securities
prior to the expiration of any restriction on such redemption provided in the
terms of such Securities or elsewhere in this Indenture, the Company shall
furnish the Trustee with an Officers’ Certificate evidencing compliance with
any such restriction.

 

Each
such notice of redemption shall specify the date fixed for redemption and the
redemption price at which Securities of that series are to be redeemed, and
shall state that payment of the redemption price of such Securities to be
redeemed will be made at the office or agency of the Company in the Borough of
Manhattan, the City and State of New York, upon presentation and surrender of
such Securities, that interest accrued to the date fixed for redemption will be
paid as specified in said notice, that from and after said date interest will
cease to accrue and that the redemption is for a sinking fund, if such is the
case.  If less than all the Securities of
a series are to be redeemed, the notice to the holders of Securities of that
series to be redeemed in whole or in part shall specify the particular
Securities to be so redeemed.  In case
any Security is to be redeemed in part only, the notice that relates to such
Security shall state the portion of the principal amount thereof to be
redeemed, and shall state that on and after the redemption date, upon surrender
of such Security, a new Security or Securities of such series in principal
amount equal to the unredeemed portion thereof will be issued.

 

(b)           If less
than all the Securities of a series are to be redeemed, the Company shall give
the Trustee at least 30 days’ notice in advance of the date fixed for
redemption as to the aggregate principal amount of Securities of the series to
be redeemed, and thereupon the Trustee shall select, by lot or in such other
manner as it shall deem appropriate and fair in its discretion and that may
provide for the selection of a portion or portions (equal to one thousand U.S.
dollars ($1,000) or any integral multiple thereof) of the principal amount of
such Securities of a denomination larger than $1,000, the Securities to be
redeemed and shall thereafter promptly notify the Company in writing of the
numbers of the Securities to be redeemed, in whole or in part.  The Company may, if and whenever it shall so
elect, by delivery of instructions signed on its behalf by its President or any
Vice President, instruct the Trustee or any paying agent to call all or any
part of the Securities of a particular series for redemption and to give notice
of redemption in the manner set forth in this Section, such notice to be in the
name of the Company or its own name as the Trustee or such paying agent may
deem advisable.  In any case in which
notice of redemption is to be given by the Trustee or any such paying agent,
the Company shall deliver or cause to be delivered to, or permit to remain
with, the Trustee or such paying agent, as the case may be, such Security
Register, transfer books or other records, or suitable copies or extracts
therefrom, sufficient to enable the Trustee
or such paying agent to give any notice by mail that may be required under the
provisions of this Section.

 

15

 

SECTION 3.03               Payment Upon Redemption.

 

(a)                                  If
the giving of notice of redemption shall have been completed as above provided,
the Securities or portions of Securities of the series to be redeemed specified
in such notice shall become due and payable on the date and at the place stated
in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and
interest on such Securities or portions of Securities shall cease to accrue on
and after the date fixed for redemption, unless the Company shall default in
the payment of such redemption price and accrued interest with respect to any
such Security or portion thereof.  On
presentation and surrender of such Securities on or after the date fixed for
redemption at the place of payment specified in the notice, said Securities
shall be paid and redeemed at the applicable redemption price for such series,
together with interest accrued thereon to the date fixed for redemption (but if
the date fixed for redemption is an interest payment date, the interest
installment payable on such date shall be payable to the registered holder at
the close of business on the applicable record date pursuant to Section 2.03).

 

(b)                                 Upon presentation of
any Security of such series that is to be redeemed in part only, the Company
shall execute and the Trustee shall authenticate and the office or agency where
the Security is presented shall deliver to the holder thereof, at the expense
of the Company, a new Security of the same series of authorized denominations
in principal amount equal to the unredeemed portion of the Security so
presented.

 

SECTION 3.04               Sinking Fund.

 

The
provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking
fund for the retirement of Securities of a series, except as otherwise
specified as contemplated by Section 2.01 for Securities of such series.

 

The
minimum amount of any sinking fund payment provided for by the terms of
Securities of any series is herein referred to as a “mandatory sinking fund payment,”
and any payment in excess of such minimum amount provided for by the terms of
Securities of any 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 3.05.  Each sinking fund payment shall be applied to
the redemption of Securities of any series as provided for by the terms of
Securities of such series.

 

SECTION 3.05               Satisfaction of Sinking Fund
Payments with Securities.

 

The
Company (i) may deliver Outstanding Securities of a series (other than any
Securities previously called for redemption) and (ii) may apply as a
credit Securities of a series that have been redeemed either at the election of
the Company pursuant to the terms of such Securities or through the application
of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund
payment with respect to the Securities of such series required to be made
pursuant to the terms of such 

 

16

 

Securities
as provided for by the terms of such series, provided that such Securities have
not been previously so credited.  Such
Securities shall be received and credited for such purpose by the Trustee at
the redemption 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.

 

SECTION 3.06               Redemption of Securities for
Sinking Fund.

 

Not
less than 45 days prior to each sinking fund payment date for any series of
Securities, the Company will deliver to the Trustee an Officers’ Certificate
specifying the amount of the next ensuing sinking fund payment for that series
pursuant to the terms of the series, the portion thereof, if any, that is to be
satisfied by delivering and crediting Securities of that series pursuant to Section 3.05
and the basis for such credit and will, together with such Officers’
Certificate, deliver to the Trustee any Securities to be so delivered.  Not less than 30 days 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 Company in the manner provided in Section 3.02.  Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner
stated in Section 3.03.

 

ARTICLE IV

 

COVENANTS

 

SECTION 4.01               Payment of Principal, Premium and
Interest.

 

The
Company will duly and punctually pay or cause to be paid the principal of (and
premium, if any) and interest on the Securities of that series at the time and
place and in the manner provided herein and established with respect to such
Securities.

 

SECTION 4.02               Maintenance of Office or Agency.

 

So
long as any series of the Securities remain Outstanding, the Company agrees to
maintain an office or agency in the Borough of Manhattan, the City and State of
New York, with respect to each such series and at such other location or
locations as may be designated as provided in this Section 4.02, where (i) Securities
of that series may be presented or surrendered for payment, (ii) Securities
of that series may be presented as herein above authorized for registration of
transfer and exchange, and (iii) notices and demands to or upon the
Company in respect of the Securities of that series and this Indenture may be
given or served, such designation to continue with respect to such office or
agency until the Company shall, by written notice signed by its President or a
Vice President and delivered to the trustee, designate some other office or
agency for such purposes or any of them. If at any time the Company shall fail
to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, notices and demands may
be made or served at the Corporate Trust Office of the Trustee, and the Company
hereby appoints the Trustee as its agent to receive all such presentations,
notices and demands.

 

17

 

SECTION 4.03       Paying Agents.

 

(a)                                  If the Company shall
appoint one or more paying agents for all or any series of the Securities,
other than the Trustee, the Company will cause each such paying agent to
execute and deliver to the Trustee an instrument in which such agent shall
agree with the Trustee, subject to the provisions of this Section:

 

(1)                                  that it will hold all
sums held by it as such agent for the payment of the principal of (and premium,
if any) or interest on the Securities of that series (whether such sums have
been paid to it by the Company or by any other obligor of such Securities) in
trust for the benefit of the Persons entitled thereto;

 

(2)                                  that it will give the
Trustee notice of any failure by the Company (or by any other obligor of such
Securities) to make any payment of the principal of (and premium, if any) or
interest on the Securities of that series when the same shall be due and
payable;

 

(3)                                  that it will, at any
time during the continuance of any failure referred to in the preceding
paragraph (a)(2) above, upon the written request of the Trustee, forthwith
pay to the Trustee all sums so held in trust by such paying agent; and

 

(4)                                  that it will perform
all other duties of paying agent as set forth in this Indenture.

 

(b)                                 If
the Company shall act as its own paying agent with respect to any series of the
Securities, it will on or before each due date of the principal of (and
premium, if any) or interest on Securities of that series, set aside, segregate
and hold in trust for the benefit of the Persons entitled thereto a sum
sufficient with monies held by all other paying agents to pay such principal
(and premium, if any) or interest so
becoming due on Securities of that series until such sums shall be paid to such
Persons or otherwise disposed of as herein provided and will promptly notify
the Trustee of such action, or any failure (by it or any other obligor on such
Securities) to take such action. 
Whenever the Company shall have one or more paying agents for any series
of Securities, it will, prior to each due date of the principal of (and
premium, if any) or interest on any Securities of that series, deposit with the
paying agent a sum sufficient to pay the principal (an premium, if any) or
interest so becoming due, such sum to be held in trust for the benefit of the
Persons entitled to such principal, premium or interest, and (unless such
paying agent is the Trustee) the Company will promptly notify the Trustee of
this action or failure so to act.

 

(c)                                  Notwithstanding
anything in this Section to the contrary, (i) the agreement to hold
sums in trust as provided in this Section is subject to the provisions of Section 11.05,
and (ii) the Company may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, pay, or 

 

18

 

direct any paying agent to pay, to the Trustee all sums held in trust
by the Company or such paying agent, such sums to be held by the Trustee upon
the same terms and conditions as those upon which such sums were held by the
Company or such paying agent; and, upon such payment by any paying agent to the Trustee, such paying
agent shall be released from all further liability with respect to such money.

 

SECTION 4.04               Appointment to Fill Vacancy in
Office of Trustee.

 

The
Company, whenever necessary to avoid or fill a vacancy in the office of
Trustee, will appoint, in the manner provided in Section 7.10, a Trustee,
so that there shall at all times be a Trustee hereunder.

 

SECTION 4.05               Compliance with Consolidation
Provisions.

 

The
Company will not, while any of the Securities remain Outstanding, consolidate
with or merge into any other Person, in either case where the Company is not
the survivor of such transaction, or sell or convey all or substantially all of
its property to any other company unless the provisions of Article X
hereof are complied with.

 

ARTICLE V

 

SECURITYHOLDERS’ LISTS AND REPORTS

BY THE COMPANY AND THE TRUSTEE

 

SECTION 5.01               Company to Furnish Trustee Names
and Addresses of Securityholders.

 

If
the Company is not the Security Register, the Company will furnish or use
reasonable efforts to cause to be furnished to the Trustee (a) on each
regular record date (as defined in Section 2.03) a list, in such form as
the Trustee may reasonably require, of the names and addresses of the holders
of each series of Securities as of such regular record date, provided that the
Company shall not be obligated to furnish or cause to furnish such list at any
time that the list shall not differ in any respect from the most recent list
furnished to the Trustee by the Company and (b) at such other times as the
Trustee may request in writing within 30 days after the receipt by the Company
of any such request, a list of similar form and content as of a date not more
than 15 days prior to the time such list is furnished; provided, however, that,
in either case, no such list need be furnished for any series for which the
Trustee shall be the Security Registrar.

 

SECTION 5.02               Preservation Of Information;
Communications With Securityholders.

 

(a)                                  The Trustee shall
preserve, in as current a form as is reasonably practicable, all information as
to the names and addresses of the holders of Securities contained in the most
recent list furnished to it as provided in Section 5.01 and as to the
names and addresses of holders of Securities received by the Trustee in its
capacity as Security Registrar (if acting in such capacity) and shall otherwise
comply with Section 312(a) of the Trust Indenture Act.

 

(b)                                 The Trustee may
destroy any list furnished to it as provided in Section 5.01 upon 

 

19

 

receipt of a new list so furnished.

 

(c)                                  Securityholders may
communicate as provided in Section 312(b) of the Trust Indenture Act
with other Securityholders with respect to their rights under this Indenture or
under the Securities.

 

SECTION 5.03               Reports by the Company.

 

(a)                                  The Company covenants
and agrees to file with the Trustee, within 15 days after the Company is required
to file the same with the Commission, copies of the annual reports and of the
information, documents and other reports (or copies of such portions of any of
the foregoing as the Commission may from time to time by rules and
regulations prescribe) that the Company may be required to file with the
Commission pursuant to Section 13 or Section 15(d) of the
Exchange Act; or, if the Company is not required to file information, documents
or reports pursuant to either of such sections, then to file with the Trustee
and the Commission, in accordance with the rules and regulations
prescribed from time to time by the Commission, such of the supplementary and
periodic information, documents and reports that may be required pursuant to Section 13
of the Exchange Act, in respect of a security listed and registered on a
national securities exchange as may be prescribed from time to time in such rules and
regulations; provided, however, the Company shall not be required to deliver to
the Trustee any materials for which the Company has sought and received
confidential treatment by the Commission. 
The Company also shall comply with the other provisions of Section 314(a) of
the Trust Indenture Act.

 

(b)                                 The Company covenants
and agrees to file with the Trustee and the Commission, in accordance with the rules and
regulations prescribed from to time by the Commission, such additional
information, documents and reports with respect to compliance by the Company
with the conditions and covenants provided for in this Indenture as may be
required from time to time by such rules and regulations.

 

(c)                                  The Company covenants
and agrees to transmit by mail, first class postage prepaid, or reputable
over-night delivery service that provides for evidence of receipt, to the
Securityholders, as their names and addresses appear upon the Security
Register, within 30 days after the filing thereof with the Trustee, such
summaries of any information, documents and reports required to be filed by the
Company pursuant to subsections (a) and (b) of this Section as
may be required by rules and regulations prescribed from time to time by
the Commission.

 

SECTION 5.04               Reports by the Trustee.

 

(a)                                  The Trustee shall
transmit to holders as provided in Section 313 of the Trust Indenture Act
such reports concerning the Trustee and its actions under this Indenture as may
be required by Section 313 of the Trust Indenture Act at the times and in
the manner provided by the Trust Indenture Act.

 

(b)                                 A copy of each such
report shall, at the time of such transmission to 

 

20

 

Securityholders, be filed by the Trustee with the Company, with each
stock exchange upon which any Securities are listed (if so listed) and, if
required by Section 313 of the Trust Indenture Act, also with the
Commission.  The Company agrees to notify
the Trustee when any Securities become listed on any stock exchange.

 

ARTICLE VI

 

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS

ON EVENT OF DEFAULT

 

SECTION 6.01               Events of Default.

 

(a)                                  Whenever used herein
with respect to Securities of a particular series, “Event of Default” means any
one or more of the following events that has occurred and is continuing:

 

(1)                                  the Company defaults
in the payment of any installment of interest upon any of the Securities of
that series, as and when the same shall become due and payable, and continuance
of such default for a period of 90 days; provided, however, that a valid
extension of an interest payment period by the Company in accordance with the
terms of any indenture supplemental hereto shall not constitute a default in
the payment of interest for this purpose;

 

(2)                                  the Company defaults
in the payment of the principal of (or premium, if any, on) any of the
Securities of that series as and when the same shall become due and payable
whether at maturity, upon redemption, by declaration or otherwise, or in any
payment required by any sinking or analogous fund established with respect to
that series; provided, however, that a valid extension of the maturity of such
Securities in accordance with the terms of any indenture supplemental hereto
shall not constitute a default in the payment of principal or premium, if any;

 

(3)                                  the Company fails to
observe or perform any other of its covenants or agreements with respect to
that series contained in this Indenture or otherwise established with respect
to that series of Securities pursuant to Section 2.01 hereof (other than a
covenant or agreement that has been expressly included in this Indenture solely
for the benefit of one or more series of Securities other than such series) for
a period of 90 days after the date on which written notice of such failure,
requiring the same to be remedied and stating that such notice is a “Notice of
Default” hereunder, shall have been given to the Company by the Trustee, by
registered or certified mail, or to the Company and the Trustee by the holders
of not less than a majority in principal amount of the Securities of that
series at the time Outstanding;

 

21

 

(4)                                  the Company pursuant
to or within the meaning of any Bankruptcy Law (i) commences a voluntary
case, (ii) consents to the entry of an order for relief against it in an
involuntary case, (iii) consents to the appointment of a Custodian of it
or for all or substantially all of its property or (iv) makes a general
assignment for the benefit of its creditors; or

 

(5)                                  a court of competent
jurisdiction enters an order under any Bankruptcy Law that (i) is for
relief against the Company in an involuntary case, (ii) appoints a
Custodian of the Company for all or substantially all of its property, or (iii) orders
the liquidation of the Company, and the order or decree remains unstayed and in
effect for 90 consecutive days.

 

(b)                                 In each and every such
case, unless the principal of all the Securities of that series shall have
already become due and payable, either the Trustee or the holders of not less
than a majority in aggregate principal amount of the Securities of that series
then Outstanding hereunder, by notice in writing to the Company (and to the
Trustee if given by such Securityholders), may declare the principal (or, if
any Securities of that series are discount securities, that portion of the
principal amount as may be specified in the terms of that series pursuant to Section 2.01(a)(16))
of (and premium, if any, on) and accrued and unpaid interest, if any, on all
the Securities of that series to be due and payable immediately, and upon any
such declaration the same hall become and shall be immediately due and payable.

 

(c)                                  At
any time after the principal of the Securities of that series shall have been
so declared due and payable, and before a judgment or decree for the payment of
the moneys due shall have been obtained or entered as hereinafter provided, the
holders of a majority in aggregate principal amount of the Securities of that
series then Outstanding hereunder (or, by action at a meeting of holders of the
Securities of such series in accordance with Section 8.09, the holders of
a majority in aggregate principal amount of the Securities of such series then
Outstanding represented at such meeting),
by written notice to the Company and the Trustee, may rescind and annul such
declaration and its consequences if:  (i) the
Company has paid or deposited with the Trustee a sum sufficient to pay all
matured installments of interest upon all the Securities of that series and the
principal of (and premium, if any, on) any and all Securities of that series
that shall have become due otherwise than by acceleration and (ii) any and
all Events of Default under this Indenture with respect to such series, other
than the nonpayment of principal of (and premium, if any, on) and accrued and
unpaid interest, if any, on Securities of that series that shall have become due
solely because of such acceleration, shall have been remedied, cured or waived
as provided in Section 6.06.  No
such rescission and annulment shall extend to or shall affect any subsequent
default or impair any right consequent thereon.

 

(d)                                 In case the Trustee
shall have proceeded to enforce any right with respect to Securities of that
series under this Indenture and such proceedings shall have been discontinued
or abandoned because of such rescission or annulment or for any 

 

22

 

other reason or shall have been determined adversely to the Trustee,
then and in every such case, subject to any determination in such proceedings,
the Company, and the Trustee shall be restored respectively to their former
positions and rights hereunder, and all rights, remedies and powers of the
Company and the Trustee shall continue as though no such proceedings had been
taken.

 

SECTION 6.02               Collection of Indebtedness and
Suits for Enforcement by Trustee.

 

(a)                                  The
Company covenants that (1) in case it shall default in the payment of any
installment of interest on any of the Securities of a series, or any payment
required by any sinking or analogous fund established with respect to that
series as and when the same shall have become due and payable, and such default
shall have continued for a period of 90 Business Days, or (2) in case it
shall default in the payment of the principal of (or premium, if any, on) any
of the Securities of a series when the same shall have become due and payable,
whether upon maturity of the Securities of a series or upon redemption or upon
declaration or otherwise, then, upon
demand of the Trustee, the Company will pay to the Trustee, for the benefit of
the holders of the Securities of that series, the whole amount that then shall
have been become due and payable on all such Securities for principal (and
premium, if any) or interest, or both, as the case may be, with interest upon
the overdue principal (and premium, if any) and (to the extent that payment of
such interest is enforceable under applicable law) upon overdue installments of
interest at the rate per annum expressed in the Securities of that series; and,
in addition thereto, such further amount as shall be sufficient to cover the
costs and expenses of collection, and the amount payable to the Trustee under Section 7.06.

 

(b)                                 If the Company shall
fail to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, shall be entitled and empowered to institute
any action or proceedings at law or in equity for the collection of the sums so
due and unpaid, and may prosecute any such action or proceeding to judgment or
final decree, and may enforce any such judgment or final decree against the
Company or other obligor upon the Securities of that series and collect the
moneys adjudged or decreed to be payable in the manner provided by law out of
the property of the Company or other obligor upon the Securities of that
series, wherever situated.

 

(c)                                  In
case of any receivership, insolvency, liquidation, bankruptcy, reorganization,
readjustment, arrangement, composition or judicial proceedings affected the
Company, or its creditors or property, the Trustee shall have power to
intervene in such proceedings and take any action therein that may be permitted
by the court and shall (except as may be otherwise provided by law) be entitled
to file such proofs of claim and other papers and documents as may be necessary
or advisable in order to have the claims of the Trustee and of the holders of
Securities of such series allowed for the entire amount due and payable by the
Company under this Indenture at the date of institution of such proceedings and
for any additional amount that may become due and payable by the Company after
such date, and to collect and receive any moneys or other property payable or deliverable on any 

 

23

 

such
claim, and to distribute the same after the deduction of the amount payable to
the Trustee under Section 7.06; and any receiver, assignee or trustee in
bankruptcy or reorganization is hereby authorized by each of the holders of
Securities of such series to make such payments to the Trustee, and, in the
event that the Trustee shall consent to the making of such payments directly to
such Securityholders, to pay to the Trustee any amount due it under Section 7.06.

 

(d)                                 All rights of action
and of asserting claims under this Indenture, or under any of the terms
established with respect to Securities of that series, may be enforced by the
Trustee without the possession of any of such Securities, or the production
thereof at any trial or other proceeding relative thereto, and any such suit or
proceeding instituted by the Trustee shall be brought in its own name as
trustee of an express trust, and any recovery of judgment shall, after
provision for payment to the Trustee of any amounts due under Section 7.06,
be for the ratable benefit of the holders of the Securities of such series.

 

In
case of an Event of Default hereunder, the Trustee may in its discretion
proceed to protect and enforce the rights vested in it by this Indenture by
such appropriate judicial proceedings as the Trustee shall deem most effectual
to protect and enforce any of such rights, either at law or in equity or in
bankruptcy or otherwise, whether for the specific enforcement of any covenant
or agreement contained in this Indenture or in aid of the exercise of any power
granted in this Indenture, or to enforce any other legal or equitable right
vested in the Trustee by this Indenture or by law.

 

Nothing
contained herein shall be deemed to authorize the Trustee to authorize or
consent to or accept or adopt on behalf of any Securityholder any plan of
reorganization, arrangement, adjustment or composition affecting the Securities
of that series or the rights of any holder thereof or to authorize the Trustee
to vote in respect of the claim of any Securityholder in any such proceeding.

 

SECTION 6.03               Application of Moneys Collected.

 

Any
moneys collected by the Trustee pursuant to this Article with respect to a
particular series of Securities shall be applied in the following order, at the
date or dates fixed by the Trustee and, in case of the distribution of such
moneys on account of principal (or premium, if any) or interest, upon
presentation of the Securities of that series, and notation thereon the
payment, if only partially paid, and upon surrender thereof if fully paid:

 

FIRST:  To the payment of costs and expenses of
collection and of all amounts payable to the Trustee under Section 7.06;
and

 

SECOND:  To the payment of the amounts then due and
unpaid upon Securities of such series for principal (and premium, if any) and
interest, in respect of which or for the benefit of which such money has been
collected, ratably, without preference or priority of any kind, according to
the amounts due and payable on such Securities for principal (and premium, if
any) and interest, respectively.

 

24

 

SECTION 6.04               Limitation on Suits.

 

No
holder of any Security of any series shall have any right by virtue or by
availing of any provision of this Indenture to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this Indenture
or for the appointment of a receiver or trustee, or for any other remedy
hereunder, unless (i) such holder previously shall have given to the
Trustee written notice of an Event of Default and of the continuance thereof
with respect to the Securities of such series specifying such Event of Default,
as hereinbefore provided; (ii) the holders of not less than a majority in
aggregate principal amount of the Securities of such series then Outstanding
shall have made written request upon the Trustee to institute such action, suit
or proceeding in its own name as trustee hereunder; (iii) such holder or
holders shall have offered to the Trustee such reasonable indemnity as it may
require against the costs, expenses and liabilities to be incurred therein or
thereby; and (iv) the Trustee for 60 days after its receipt of such
notice, request and offer of indemnity, shall have failed to institute any such
action, suit or proceeding and (v) during such 60 day period, the holders
of a majority in principal amount of the Securities of that series (or such
amount as shall have acted at a meeting of the holders of Securities of such
series pursuant to the provisions of this Indenture) do not give the Trustee a
direction inconsistent with the request; provided, however, that no one or more
of such holders may use this Indenture to prejudice the rights of another
holder or to obtain preference or priority over another holder.

 

Notwithstanding
anything contained herein to the contrary, any other provisions of this
Indenture, the right of any holder of any Security to receive payment of the
principal of (and premium, if any) and interest on such Security, as therein
provided, on or after the respective due dates expressed in such Security (or
in the case of redemption, on the redemption date), or to institute suit for
the enforcement of any such payment on or after such respective dates or
redemption date, shall not be impaired or affected without the consent of such
holder and by accepting a Security hereunder it is expressly understood,
intended and covenanted by the taker and holder of every Security of such
series with every other such taker and holder and the Trustee, that no one or
more holders of Securities of such series shall have any right in any manner
whatsoever by virtue or by availing of any provision of this Indenture to
affect, disturb or prejudice the rights of the holders of any other of such
Securities, or to obtain or seek to obtain priority over or preference to any
other such holder, or to enforce any right under this Indenture, except in the
manner herein provided and for the equal, ratable and common benefit of all
holders of Securities of such series. 
For the protection and enforcement of the provisions of this Section,
each and every Securityholder and the Trustee shall be entitled to such relief
as can be given either at law or in equity.

 

SECTION 6.05               Rights and Remedies Cumulative;
Delay or Omission Not Waiver.

 

(a)                                  Except
as otherwise provided in Section 2.07, all powers and remedies given by
this Article to the Trustee or to the Securityholders shall, to the extent
permitted by law, be deemed cumulative
and not exclusive of any other powers and remedies available to the Trustee or
the holders of the Securities, by judicial proceedings or otherwise, to enforce
the performance or observance of the covenants and agreements contained in this
Indenture or otherwise established with respect to such Securities.

 

25

 

(b)                                 No delay or omission
of the Trustee or of any holder of any of the Securities to exercise any right
or power accruing upon any Event of Default occurring and continuing as
aforesaid shall impair any such right or power, or shall be construed to be a
waiver of any such default or on acquiescence therein; and, subject to the
provisions of Section 6.04, every power and remedy given by this Article or
by law to the Trustee or the Securityholders may be exercised from time to
time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders.

 

SECTION 6.06               Control by Securityholders.

 

The
holders of a majority in aggregate principal amount of the Securities of any
series at the time Outstanding, determined in accordance with Section 8.01,
shall have the right to direct the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or exercising any trust or
power conferred on the Trustee with respect to such series; provided, however,
that such direction shall not be in conflict with any rule of law or with
this Indenture or be unduly prejudicial to the rights of holders of Securities
of any other series at the time Outstanding determined in accordance with Section 8.01.  Subject to the provisions of Section 7.01,
the Trustee shall have the right to decline to follow any such direction if the
Trustee in good faith shall, by a Responsible Officer or Officers of the
Trustee, determine that the proceeding so directed would involve the Trustee in
personal liability.  The holders either (a) through
the written consent of not less than a majority in aggregate principal amount
of the Securities of any series at the time Outstanding or (b) by action
at a meeting of holders of the Securities of such series in accordance with Section 8.09,
by the holders of a majority in aggregate principal amount of the Securities of
such series then Outstanding represented at such meeting, may on behalf of the
holders of all of the Securities of such series waive any past default in the
performance of any of the covenants contained herein or established pursuant to
Section 2.01 with respect to such series and its consequences, except a
default in the payment of the principal of, or premium, if any, or interest on,
any of the Securities of that series as and when the same shall become due by
the terms of such Securities otherwise than by acceleration (unless such
default has been cured and a sum sufficient to pay all matured installments of
interest and principal and any premium has been deposited with the Trustee (in
accordance with Section 6.01(c)) and except in respect a provision hereof
which, under Section 9.02, cannot be modified or amended without the
consent of the holders of each Outstanding Security affected; provided however
that this Section shall not limit the right of holders of Securities of a
series to rescind and annul any acceleration as set forth in Section 6.01.  Upon any such waiver, the default covered
thereby shall be deemed to be cured for all purposes of this Indenture and the
Company, the Trustee and the holders of the Securities of such series shall be
restored to their former positions and rights hereunder, respectively; but no
such waiver shall extend to any subsequent or other default or impair any right
consequent thereon.  The provisions which
otherwise would be automatically deemed to be contained in this Indenture
pursuant to Section (316)(a)(1) of the Trust Indenture Act are hereby
expressly excluded from this Indenture, except to the extent such provisions
are expressly included herein.

 

SECTION 6.07               Undertaking to Pay Costs.

 

All
parties to this Indenture agree, and each holder of any Securities by such
holder’s acceptance thereof shall be deemed to have agreed, that any court may
in its discretion require, in any suit 

 

26

 

for
the enforcement of any right or remedy under this Indenture, or in any suit
against the Trustee for any action taken or omitted by it as Trustee, the
filing by any party litigant in such suit of an undertaking to pay the costs of
such suit, and that such court may in its discretion assess reasonable costs,
including reasonable attorneys’ fees, against any party litigant in such suit,
having due regard to the merits and good faith of the claims or defenses made
by such party litigant; but the provisions of this Section shall not apply
to any suit instituted by the Trustee, to any suit instituted by any
Securityholder, or group of Securityholders, holding more than 10% in aggregate
principal amount of the Outstanding Securities of any series, or to any suit
instituted by any Securityholder for the enforcement of the payment of the
principal of (or premium, if any) or interest on any Security of such series,
on or after the respective due dates expressed in such Security or established
pursuant to this Indenture.

 

ARTICLE VII

 

CONCERNING THE TRUSTEE

 

SECTION 7.01               Certain Duties and
Responsibilities of Trustee.

 

(a)                                  The Trustee, prior to
the occurrence of an Event of Default with respect to the Securities of a
series and after the curing of all Events of Default with respect to the
Securities of that series that may have occurred, shall undertake to perform
with respect to the Securities of such series such duties and only such duties
as are specifically set forth in this Indenture, and no implied covenants shall
be read into this Indenture against the Trustee.  In case an Event of Default with respect to
the Securities of a series has occurred (that has not been cured or waived),
the Trustee shall exercise with respect to Securities of that series 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 man would exercise or use
under the circumstances in the conduct of his own affairs.

 

(b)                                 No provision of this
Indenture shall be construed to relieve the Trustee from liability for its own
negligent action, its own negligent failure to act, or its own willful
misconduct, except that:

 

(1)                                  prior to the
occurrence of an Event of Default with respect to the Securities of a series
and after the curing or waiving of all such Events of Default with respect to
that series that may have occurred:

 

(i)                                     the duties and
obligations of the Trustee shall with respect to the Securities of such series
be determined solely by the express provisions of this Indenture, and the
Trustee shall not be liable with respect to the Securities of such series
except for the performance of such duties and obligations as are specifically
set forth in this Indenture, and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and

 

(ii)                                  in
the absence of bad faith on the part of the Trustee, the Trustee 

 

27

 

may with respect to the Securities of such series conclusively rely, as
to the truth of the statements and the correctness of the opinions expressed
therein, upon any certificates or opinions furnished to the Trustee and
conforming to the requirements of this Indenture; but in the case of any such
certificates or opinions
that by any provision hereof are specifically required to be furnished to the
Trustee, the Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirement of this Indenture;

 

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

 

(3)                                  the Trustee shall not
be liable with respect to any action taken or omitted to be taken by it in good
faith in accordance with the direction of the holders of not less than a
majority in principal amount of the Securities of any series at the time
Outstanding relating to the time, method and place of conducting any proceeding
for any remedy available to the Trustee, or exercising any trust or power
conferred upon the Trustee under this Indenture with respect to the Securities
of that series; and

 

(4)                                  None of the
provisions contained in this Indenture shall require the Trustee to expend or
risk its own funds or otherwise incur personal financial liability in the
performance of any of its duties or in the exercise of any of its rights or
powers, if there is reasonable ground for believing that the repayment of such
funds or liability is not reasonably assured to it under the terms of this
Indenture or adequate indemnity against such risk is not reasonably assured to
it.

 

SECTION 7.02               Certain Rights of Trustee.

 

Except
as otherwise provided in Section 7.01:

 

(a)                                  The Trustee may rely
and shall be protected in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request, consent,
order, approval, bond, security or other paper or document believed by it to be
genuine and to have been signed or presented by the proper party or parties;

 

(b)                                 Any request,
direction, order or demand of the Company mentioned herein shall be
sufficiently evidenced by a Board Resolution or an instrument signed in the
name of the Company, by the President or any Vice President and by the
Secretary or an Assistant Secretary or the Treasurer or an Assistant Treasurer
thereof (unless other evidence in respect thereof is specifically prescribed
herein);

 

28

 

(c)                                  The
Trustee may consult with counsel and the written advice of such counsel or any
Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered
or omitted hereunder in good faith and in reliance thereon;

 

(d)                                 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
Securityholders, pursuant to the provisions of this Indenture, unless such
Securityholders shall have offered to
the Trustee reasonable security or indemnity against the costs, expenses and
liabilities that may be incurred therein or thereby; nothing contained herein
shall, however, relieve the Trustee of the obligation, upon the occurrence of
an Event of Default with respect to a series of the Securities (that has not
been cured or waived) to exercise with respect to Securities of that series
such of the rights and powers vested in it by this Indenture, and to use the
same degree of care and skill in their exercise, as a prudent man would
exercise or use under the circumstances in the conduct of his own affairs;

 

(e)                                  The
Trustee shall not be liable for any action taken or omitted to be taken by it in
good faith and believed by it to be authorized or within the discretion or
rights or powers conferred upon it by
this Indenture;

 

(f)                                    The
Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, consent, order,
approval, bond, security, or other papers or documents, unless requested in
writing so to do by the holders of not less than a majority in principal amount
of the Outstanding Securities of the particular series affected thereby
(determined as provided in Section 8.04); provided, however, that if the
payment within a reasonable time to the Trustee of the costs, expenses or
liabilities likely to be incurred by it in the making of such investigation is,
in the opinion of the Trustee, not reasonably assured to the Trustee by the
security afforded to it by the terms of this Indenture, the Trustee may require
reasonable indemnity against such costs, expenses or liabilities as a condition
to so proceeding.  The reasonable expense
of every such examination shall be paid by the Company or, if paid by the
Trustee, shall be repaid by the Company upon demand; and

 

(g)                                 The Trustee may execute any of the trusts or
powers hereunder or perform any duties hereunder either directly or by or
through agents or attorneys and the Trustee shall not be responsible for any
misconduct or negligence on the part of any agent or attorney appointed with
due care by it hereunder.

 

SECTION 7.03               Trustee Not Responsible for
Recitals or Issuance of Securities.

 

(a)                                  The recitals
contained herein and in the Securities shall be taken as the statements of the
Company, and the Trustee assumes no responsibility for the correctness of the
same.

 

29

 

(b)                                 The Trustee makes no
representations as to the validity or sufficiency of this Indenture or of the
Securities.

 

(c)                                  The Trustee shall not
be accountable for the use or application by the Company of any of the
Securities or of the proceeds of such Securities, or for the use or application
of any moneys paid over by the Trustee in accordance with any provision of this
Indenture or established pursuant to Section 2.01, or for the use or
application of any moneys received by any paying agent other than the Trustee.

 

SECTION 7.04               May Hold Securities.

 

The
Trustee or any paying agent or Security Registrar, in its individual or any
other capacity, may become the owner or pledgee of Securities with the same
rights it would have if it were not Trustee, paying agent or Security
Registrar.

 

SECTION 7.05               Moneys Held in Trust.

 

Subject
to the provisions of Section 11.05, all moneys received by the Trustee
shall, until used or applied as herein provided, be held in trust for the
purposes for which they were received, but need not be segregated from other
funds except to the extent required by law. 
The Trustee shall be under no liability for interest on any moneys
received by it hereunder except such as it may agree with the Company to pay
thereon.

 

SECTION 7.06               Compensation and Reimbursement.

 

(a)                                  The Company covenants
and agrees to pay to the Trustee, and the Trustee shall be entitled to, such
reasonable compensation (which shall not be limited by any provision of law in
regard to the compensation of a trustee of an express trust), as the Company,
and the Trustee may from time to time agree in writing, for all services
rendered by it in the execution of the trusts hereby created and in the
exercise and performance of any of the powers and duties hereunder of the
Trustee, and, except as otherwise expressly provided herein, the Company will
pay or reimburse the Trustee upon its request for all reasonable expenses,
disbursements and advances incurred or made by the Trustee in accordance with
any of the provisions of this Indenture (including the reasonable compensation
and the expenses and disbursements of its counsel and of all Persons not
regularly in its employ) except any such expense, disbursement or advance as
may arise from its negligence or bad faith. 
The Company also covenants to indemnify the Trustee (and its officers,
agents, directors and employees) for, and to hold it harmless against, any
loss, liability or expense incurred without negligence or bad faith on the part
of the Trustee and arising out of or in connection with the acceptance or
administration of this trust, including the costs and expenses of defending
itself against any claim of liability in the premises.

 

30

 

(b)           The
obligations of the Company under this Section to compensate and indemnify
the Trustee and to pay or reimburse the Trustee for expenses, disbursements and
advances shall constitute additional indebtedness hereunder.  Such additional indebtedness shall be secured by a lien prior to that of the
Securities upon all property and funds held or collected by the Trustee as
such, except funds held in trust for the benefit of the holders of particular
Securities.

 

SECTION 7.07               Reliance on
Officers’ Certificate.

 

Except
as otherwise provided in Section 7.01, whenever in the administration of
the provisions of this Indenture the Trustee shall deem it necessary or
desirable that a matter be proved or established prior to taking or suffering
or omitting to take any action hereunder, such matter (unless other evidence in
respect thereof be herein specifically prescribed) may, in the absence of
negligence or bad faith on the part of the Trustee, be deemed to be
conclusively proved and established by an Officers’ Certificate delivered to
the Trustee and such certificate, in the absence of negligence or bad faith on
the part of the Trustee, shall be full warrant to the Trustee for any action
taken, suffered or omitted to be taken by it under the provisions of this Indenture
upon the faith thereof.

 

SECTION 7.08               Disqualification;
Conflicting Interests.

 

If
the Trustee has or shall acquire any “conflicting interest” within the meaning
of Section 310(b) of the Trust Indenture Act, the Trustee and the
Company shall in all respects comply with the provisions of Section 310(b) of
the Trust Indenture Act.

 

SECTION 7.09               Corporate Trustee
Required; Eligibility.

 

There
shall at all times be a Trustee with respect to the Securities issued hereunder
which shall at all times be a corporation organized and doing business under
the laws of the United States of America or any State or Territory thereof or
of the District of Columbia, or a corporation or other Person permitted to act
as trustee by the Commission, authorized under such laws to exercise corporate
trust powers, having a combined capital and surplus of at least 50 million U.S.
dollars ($50,000,000), and subject to supervision or examination by Federal,
State, Territorial, or District of Columbia authority.  If such corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such corporation shall be deemed
to be its combined capital and surplus as set forth in its most recent report
of condition so published.  The Company
may not, nor may any Person directly or indirectly controlling, controlled by,
or under common control with the Company, serve as Trustee.  In case at any time the Trustee shall cease
to be eligible in accordance with the provisions of this Section, the Trustee
shall resign immediately in the manner and with the effect specified in Section 7.10.

 

SECTION 7.10               Resignation and
Removal; Appointment of Successor.

 

(a)           The
Trustee or any successor hereafter appointed, may at any time resign with
respect to the Securities of one or more series by giving written notice thereof to the Company and by transmitting notice
of resignation by mail, first class postage 

 

31

 

prepaid,
to the Securityholders of such series, as their names and addresses appear upon
the Security Register.  Upon receiving
such notice of resignation, the Company shall promptly appoint a successor
trustee with respect to Securities of such series by written instrument, in
duplicate, executed by order of the Board of Directors, one copy of which
instrument shall be delivered to the resigning Trustee and one copy to the
successor trustee.  If no successor
trustee shall have been so appointed and have accepted appointment within 30
days after the mailing of such notice of resignation, the resigning Trustee may
petition any court of competent jurisdiction for the appointment of a successor
trustee with respect to Securities of such series, or any Securityholder of
that series who has been a bona fide holder of a Security or Securities for at
least six months may on behalf of himself and all others similarly situated,
petition any such court for the appointment of a successor trustee.  Such court may thereupon after such notice,
if any, as it may deem proper and prescribe, appoint a successor trustee.

 

(b)           In case at any time any one of the following
shall occur:

 

(1)           the Trustee shall fail to comply with the
provisions of Section 7.08 after written request therefor by the Company
or by any Securityholder who has been a bona fide holder of a Security or
Securities for at least six months; or

 

(2)           the Trustee shall cease to be eligible in
accordance with the provisions of Section 7.09 and shall fail to resign
after written request therefor by the Company or by any such Securityholder; or

 

(3)           the
Trustee shall become incapable of acting, or shall be adjudged a bankrupt or
insolvent, or commence a voluntary bankruptcy proceeding, or a receiver of the
Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the
Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then, in any such case, the Company may remove the
Trustee with respect to all Securities and appoint a successor trustee by
written instrument, in duplicate, executed by order of the Board of Directors,
one copy of which instrument shall be delivered to the Trustee so removed and
one copy to the successor trustee, or, unless the Trustee’s duty to resign is
stayed as provided herein, any Securityholder who has been a bona fide holder
of a Security or Securities for at least six months may, on behalf of that
holder and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor
trustee.  Such court may thereupon after such
notice, if any, as it may deem proper and prescribe, remove the Trustee and
appoint a successor trustee.

 

(c)           The holders of a majority in aggregate
principal amount of the Securities of any series at the time Outstanding may at
any time remove the Trustee with respect to such series by so notifying the
Trustee and the Company and may appoint a 

 

32

 

successor Trustee for such series with the consent of the Company.

 

(d)           Any resignation or removal of the Trustee
and appointment of a successor trustee with respect to the Securities of a
series pursuant to any of the provisions of this Section shall become
effective upon acceptance of appointment by the successor trustee as provided
in Section 7.11.

 

(e)           Any successor trustee appointed pursuant to
this Section may be appointed with respect to the Securities of one or
more series or all of such series, and at any time there shall be only one
Trustee with respect to the Securities of any particular series.

 

SECTION 7.11               Acceptance of
Appointment By Successor.

 

(a)           In case of
the appointment hereunder of a successor trustee with respect to all
Securities, every such successor trustee so appointed shall execute,
acknowledge and deliver to the Company and
to the retiring Trustee an instrument accepting such appointment, and thereupon
the resignation or removal of the retiring Trustee shall become effective and
such successor trustee, without any further act, deed or conveyance, shall
become vested with all the rights, powers, trusts and duties of the retiring
Trustee; but, on the request of the Company or the successor trustee, such
retiring Trustee shall, upon payment of its charges, execute and deliver an
instrument transferring to such successor trustee all the rights, powers, and
trusts of the retiring Trustee and shall duly assign, transfer and deliver to
such successor trustee all property and money held by such retiring Trustee
hereunder.

 

(b)           In case of
the appointment hereunder of a successor trustee with respect to the Securities
of one or more (but not all) series, the Company, the retiring Trustee and each
successor trustee with respect to the Securities of one or more series shall
execute and deliver an indenture supplemental hereto wherein each successor
trustee shall accept such appointment and which (1) shall contain such
provisions as shall be necessary or desirable to transfer and confirm to, and
to vest in, each successor trustee all the rights, powers, trusts and duties of
the retiring Trustee with respect to the Securities of that or those series to
which the appointment of such successor trustee relates, (2) shall contain
such provisions as shall be deemed necessary or desirable to confirm that all
the rights, powers, trusts and duties of the retiring Trustee with respect to
the Securities of that or those series as to which the retiring Trustee is not
retiring shall continue to be vested in the retiring Trustee, and (3) shall
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, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same
trust, that each such Trustee shall be trustee of a trust or trusts hereunder
separate and apart from any trust or trusts hereunder administered by any other
such Trustee and that no Trustee shall be responsible for any act or failure to
act on the part of any other Trustee hereunder; and upon the execution and
delivery of such supplemental indenture the resignation or 

 

33

 

removal of the retiring Trustee shall become effective to the extent provided therein,
such retiring Trustee shall with respect to the Securities of that or those
series to which the appointment of such successor trustee relates have no
further responsibility for the exercise of rights and powers or for the
performance of the duties and obligations vested in the Trustee under this
Indenture, and each such successor trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Securities of that or those series
to which the appointment of such successor trustee relates; but, on request of
the Company or any successor trustee, such retiring Trustee shall duly assign,
transfer and deliver to such successor trustee, to the extent contemplated by
such supplemental indenture, the property and money held by such retiring
Trustee hereunder with respect to the Securities of that or those series to
which the appointment of such successor trustee relates.

 

(c)           Upon request of any such successor trustee,
the Company shall execute any and all instruments for more fully and certainly
vesting in and confirming to such successor trustee all such rights, powers and
trusts referred to in paragraph (a) or (b) of this Section, as the
case may be.

 

(d)           No successor trustee shall accept its
appointment unless at the time of such acceptance such successor trustee shall
be qualified and eligible under this Article.

 

(e)           Upon acceptance of appointment by a
successor trustee as provided in this Section, the Company shall transmit
notice of the succession of such trustee hereunder by mail, first class postage
prepaid, to the Securityholders, as their names and addresses appear upon the
Security Register.  If the Company fails
to transmit such notice within ten days after acceptance of appointment by the
successor trustee, the successor trustee shall cause such notice to be
transmitted at the expense of the Company.

 

SECTION 7.12               Merger, Conversion,
Consolidation or Succession to Business.

 

Any
corporation into which the Trustee may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which the Trustee shall be a party, or any corporation
succeeding to the corporate trust business of the Trustee, shall be the
successor of the Trustee hereunder, provided that such corporation shall be
qualified under the provisions of Section 7.08 and eligible under the
provisions of Section 7.09, without the execution or filing of any paper
or any further act on the part of any of the parties hereto, anything herein to
the contrary notwithstanding.  In case
any Securities shall have been authenticated, but not delivered, by the Trustee
then in office, any successor by merger, conversion or consolidation to such
authenticating Trustee may adopt such authentication and deliver the Securities
so authenticated with the same effect as if such successor Trustee had itself
authenticated such Securities.

 

34

 

SECTION 7.13               Preferential
Collection of Claims Against the Company.

 

The
Trustee shall comply with Section 311(a) of the Trust Indenture Act,
excluding any creditor relationship described in Section 311(b) of
the Trust Indenture Act.  A Trustee who
has resigned or been removed shall be subject to Section 311(a) of
the Trust Indenture Act to the extent included therein.

 

ARTICLE VIII

 

CONCERNING THE SECURITYHOLDERS

 

SECTION 8.01               Evidence of Action
by Securityholders.

 

Whenever
in this Indenture it is provided that the holders of a majority or specified
percentage in aggregate principal amount of the Securities of a particular
series may take any action (including the making of any demand or request, the
giving of any notice, consent or waiver or the taking of any other action), the
fact that at the time of taking any such action the holders of such majority or
specified percentage of that series have joined therein may be evidenced by any
instrument or any number of instruments of similar tenor executed by such
holders of Securities of that series in Person or by agent or proxy appointed
in writing.

 

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

 

SECTION 8.02               Proof of Execution
by Securityholders.

 

Subject
to the provisions of Section 7.01, proof of the execution of any instrument
by a Securityholder (such proof will not require notarization) or his agent or
proxy and proof of the holding by any Person of any of the Securities shall be
sufficient if made in the following manner:

 

(a)           The fact and date of the execution by any
such Person of any instrument may be proved in any reasonable manner acceptable
to the Trustee.

 

(b)           The ownership of Securities shall be proved
by the Security Register of such 

 

35

 

Securities or by a certificate of the Security Registrar thereof.

 

(c)           The Trustee may require such additional
proof of any matter referred to in this Section as it shall deem
necessary.

 

SECTION 8.03               Who May be
Deemed Owners.

 

Prior
to the due presentment for registration of transfer of any Security, the
Company, the Trustee, any paying agent and any Security Registrar may deem and
treat the Person in whose name such Security shall be registered upon the books
of the Company as the absolute owner of such Security (whether or not such
Security shall be overdue and notwithstanding any notice of ownership or
writing thereon made by anyone other than the Security Registrar) for the
purpose of receiving payment of or on account of the principal of, premium, if
any, and (subject to Section 2.03) interest on such Security and for all
other purposes; and neither the Company nor the Trustee nor any paying agent
nor any Security Registrar shall be affected by any notice to the contrary.

 

SECTION 8.04               Certain Securities
Owned by Company Disregarded.

 

In
determining whether the holders of the requisite aggregate principal amount of
Securities of a particular series have concurred in any direction, consent of
waiver under this Indenture, the Securities of that series that are owned by
the Company or any other obligor on the Securities of that series or by any
Person directly or indirectly controlling or controlled by or under common
control with the Company or any other obligor on the Securities of that series
shall be disregarded and deemed not to be Outstanding for the purpose of any
such determination, except that for the purpose of determining whether the
Trustee shall be protected in relying on any such direction, consent or waiver,
only Securities of such series that the Trustee actually knows are so owned
shall be so disregarded.  The Securities
so owned that have been pledged in good faith may be regarded as Outstanding
for the purposes of this Section, if the pledgee shall establish to the
satisfaction of the Trustee the pledgee’s right so to act with respect to such
Securities and that the pledgee is not a Person directly or indirectly
controlling or controlled by or under direct or indirect common control with
the Company or any such other obligor. 
In case of a dispute as to such right, any decision by the Trustee taken
upon the advice of counsel shall be full protection to the Trustee.

 

SECTION 8.05               Actions Binding on
Future Securityholders.

 

At
any time prior to (but not after) the evidencing to the Trustee, as provided in
Section 8.01, of the taking of any action by the holders of the majority
or percentage in aggregate principal amount of the Securities of a particular
series specified in this Indenture in connection with such action, any holder
of a Security of that series that is shown by the evidence to be included in
the Securities the holders of which have consented to such action may, by
filing written notice with the Trustee, and upon proof of holding as provided
in Section 8.02, revoke such action so far as concerns such Security.  Except as aforesaid any such action taken by
the holder of any Security shall be conclusive and binding upon such holder and
upon all future holders and owners of such Security, and of any Security issued
in exchange therefor, on registration of transfer thereof or in place thereof,
irrespective of whether or not any notation in regard thereto is made upon such

 

36

 

Security.  Any action taken by the holders of the
majority or percentage in aggregate principal amount of the Securities of a
particular series specified in this Indenture in connection with such action
shall be conclusively binding upon the Company, the Trustee and the holders of
all the Securities of that series.

 

SECTION 8.06               Purposes for Which
Meetings May Be Called.

 

A
meeting of holders of any series of Securities may be called at any time and
from time to time pursuant to this Article to make, give or take any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be made, given or taken by holders of such
series of Securities.

 

Notwithstanding
anything contained in this Article VIII, the Trustee may, during the
pendency of a Default or an Event of Default, call a meeting of holders of any
series of Securities in accordance with its standard practices.

 

SECTION 8.07               Call Notice and
Place of Meetings.

 

(a)           The Trustee may at any time call a meeting
of holders of any series of Securities for any purpose specified in Section 8.06
hereof, to be held at such time and at such place in The City of New York or
Boston, Massachusetts.  Notice of every
meeting of holders of any series of Securities, setting forth the time and the
place of such meeting, in general terms the action proposed to be taken at such
meeting and the percentage of the principal amount of the Outstanding
Securities of such series which shall constitute a quorum at such meeting,
shall be given, in the manner provided in Section 13.04 hereof, not less
than 21 nor more than 180 days prior to the date fixed for the meeting to
holders of Outstanding Securities of such series.

 

(b)           In case at
any time the Company, pursuant to a Board Resolution, or the holders of at
least 10% in principal amount of the Outstanding Securities of any series shall
have requested the Trustee to call a meeting of the holders of Securities of
such series for any purpose specified in Section 8.06 hereof, by written
request setting forth in reasonable detail the action proposed to be taken at
the meeting, and the Trustee shall not have
made the first publication of the notice of such meeting within 21 days after
receipt of such request or shall not thereafter proceed to cause the meeting to
be held as provided herein, then the Company or the holders of Securities of
such series in the amount specified, as the case may be, may determine the time
and the place in The City of New York or Boston, Massachusetts for such meeting
and may call such meeting for such purposes by giving notice thereof as
provided in paragraph (a) of this Section.

 

SECTION 8.08               Persons Entitled To
Vote at Meetings.

 

To
be entitled to vote at any meeting of holders of Securities of a given series,
a Person shall be (a) a holder of one or more Outstanding Securities of
such series or (b) a Person appointed by an instrument in writing as proxy
for a holder or holders of one or more Outstanding Securities of such series by
such holder or holders.  The only Persons
who shall be entitled to be present or to 

 

37

 

speak
at any meeting of holders shall be the Persons entitled to vote at such meeting
and their counsel, any representatives of the Trustee and its counsel and any
representatives of the Company and its counsel.

 

SECTION 8.09               Quorum; Action.

 

The
Persons entitled to vote a majority in aggregate principal amount of the
Outstanding Securities of a given series shall constitute a quorum with respect
to a meeting of holders of Outstanding Securities of such series.  In the absence of a quorum within 30 minutes
of the time appointed for any such meeting, the meeting shall, if convened at
the request of holders of Securities of such series, be dissolved.  In any other case, the meeting may be
adjourned for a period of not less than 10 days as determined by the chairman
of the meeting prior to the adjournment of such meeting.  In the absence of a quorum at any such
adjourned meeting, such adjourned meeting may be further adjourned for a period
of not less than 10 days as determined by the chairman of the meeting prior to
the adjournment of such adjourned meeting. 
Notice of the reconvening of any adjourned meeting shall be given as
provided in Section 8.07(a) hereof, except that such notice need be
given only once and not less than five days prior to the date on which the
meeting is scheduled to be reconvened.

 

At
a meeting or an adjourned meeting duly reconvened and at which a quorum is
present as aforesaid, any resolution and all matters (except as limited by the
proviso to the first paragraph of Section 9.02 hereof) shall be
effectively passed and decided if passed or decided by the Persons entitled to
vote not less than a majority in aggregate principal amount of Outstanding
Securities of a series represented and voting at such meeting with respect to a
meeting of holders of Outstanding Securities of such series.

 

Any
resolution passed or decisions taken at any meeting of holders of Securities
duly held in accordance with this Section shall be binding on all the
holders of Securities of such series, whether or not present or represented at
the meeting.

 

SECTION 8.10               Determination of
Voting Rights; Conduct and Adjournment of Meetings.

 

(a)           Notwithstanding any other provisions of this
Indenture, the Trustee may make such reasonable regulations as it may deem
advisable for any meeting of holders of Securities in regard to proof of the
holding of Securities and of the appointment of proxies and in regard to the
appointment and duties of inspectors of votes, the submission and examination
of proxies, certificates and other evidence of the right to vote, and such
other matters concerning the conduct of the meeting as it shall deem
appropriate.

 

(b)           The
Trustee shall, by an instrument in writing, appoint a temporary chairman (which
may be the Trustee) of the meeting, unless the meeting shall have been called
by the Company or by holders of Securities of a given series as provided in Section 8.07(b) hereof,
in which case the Company or the holders of Securities of such series calling
the meeting, as the case may be, shall in like manner appoint a temporary chairman. 
A permanent chairman and a permanent secretary of the meeting shall be
elected by vote of the Persons entitled to vote a majority in 

 

38

 

principal
amount of the Outstanding Securities of such series represented at the meeting.

 

(c)           At any
meeting, each holder of a Security of the series in respect of which such
meeting is being held or proxy shall be entitled to one vote for each $1,000
principal amount of Securities of such series held or represented by him;
provided, however, that no vote shall be cast or counted at any meeting in
respect of any Security of such series challenged as not Outstanding and ruled by the chairman of the
meeting to be not Outstanding.  The
chairman of the meeting shall have no right to vote, except as a holder of a
Security of such series or proxy.

 

(d)           Any meeting of holders of Securities duly
called pursuant to Section 8.07 hereof at which a quorum is present may be
adjourned from time to time by Persons entitled to vote a majority in principal
amount of the Outstanding Securities of the series in respect of which such
meeting is being held represented at the meeting, and the meeting may be held
as so adjourned without further notice.

 

SECTION 8.11               Counting Votes and
Recording Action of Meetings.

 

The
vote upon any resolution submitted to any meeting of holders of Securities of a
given series shall be by written ballots on which shall be subscribed the
signatures of the holders of Securities of such series or of their
representatives by proxy and the principal amounts and serial numbers of the
Outstanding Securities of such series held or represented by them.  The permanent chairman of the meeting shall
appoint two inspectors of votes who shall count all votes cast at the meeting
for or against any resolution and who shall make and file with the secretary of
the meeting their verified written reports in duplicate of all votes cast at
the meeting.  A record, at least in
duplicate, of the proceedings of each meeting of holders of Securities of such
series shall be prepared by the secretary of the meeting and there shall be
attached to said record the original reports of the inspectors of votes on any
vote by ballot taken thereat and affidavits by one or more Persons having
knowledge of the facts setting forth a copy of the notice of the meeting and
showing that said notice was given as provided in Section 8.07 hereof and,
if applicable, Section 8.09 hereof. Each copy shall be signed and verified
by the affidavits of the permanent chairman and secretary of the meeting and
one such copy shall be delivered to the Company and another to the Trustee to
be preserved by the Trustee, the latter to have attached thereto the ballots
voted at the meeting.  Any record so
signed and verified shall be conclusive evidence of the matters therein stated.

 

ARTICLE IX

 

SUPPLEMENTAL INDENTURES

 

SECTION 9.01               Supplemental
Indentures Without the Consent of Securityholders.

 

In
addition to any supplemental indenture otherwise authorized by this Indenture,
the Company and the Trustee may from time to time and at any time enter into an
indenture or indentures 

 

39

 

supplemental
hereto (which shall conform to the provisions of the Trust Indenture Act as
then in effect), without the consent of the Securityholders, for one or more of
the following purposes:

 

(a)           cure any ambiguity, correct or supplement
any provision herein which may be inconsistent with any other provision herein
or which is otherwise defective, or make any other provisions with respect to
matters or questions arising under this Indenture which the Company and the
Trustee may deem necessary or desirable and which shall not be inconsistent
with the provisions of this Indenture;

 

(b)           to comply with Article X;

 

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

 

(d)           to add to the covenants of the Company for
the benefit of the holders of all or any Series of Securities (and if such
covenants are to be for the benefit of less than all series of Securities,
stating that such covenants are expressly being included solely for the benefit
of such series) or to surrender any right or power herein conferred upon the
Company;

 

(e)           to add to, delete from, or revise the
conditions, limitations, and restrictions on the authorized amount, terms, or
purposes of issue, authentication, and delivery of Securities, as herein set
forth;

 

(f)            to make any change that does not adversely
affect the rights of any Securityholder in any material respect;

 

(g)           to provide for the issuance of and establish
the form and terms and conditions of the Securities of any series as provided
in Section 2.01, to establish the form of any certifications required to
be furnished pursuant to the terms of this Indenture or any series of
Securities, or to add to the rights of the holders of any series of Securities;
or

 

(h)           comply with the requirements of the
Commission in order to effect or maintain the qualification of this Indenture
under the Trust Indenture Act.

 

The
Trustee is hereby authorized to join with the Company in the execution of any
such supplemental indenture, and to make any further appropriate agreements and
stipulations that may be therein contained, but the Trustee shall not be
obligated to enter into any such supplemental indenture that affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise.

 

Any
supplemental indenture authorized by the provisions of this Section may be
executed by the Company and the Trustee without the consent of the holders of
any of the Securities at the time Outstanding, notwithstanding any of the
provisions of Section 9.02.

 

40

 

SECTION 9.02               Supplemental
Indentures With Consent of Securityholders.

 

With
the written consent of the holders of at least a majority in aggregate
principal amount of the Outstanding Securities of any series or by action at a
meeting of holders of the Securities of such series in accordance with Section 8.09,
by the holders of a majority in aggregate principal amount of the Securities of
such series then Outstanding represented at such meeting, the Company, when
authorized by Board Resolutions, and the Trustee may from time to time and at
any time enter into an indenture or indentures supplemental hereto (which shall
conform to the provisions of the Trust Indenture Act as then in effect) for the
purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or of any supplemental indenture or of
modifying in any manner not covered by Section 9.01 the rights of the
holders of the Securities of such series under this Indenture; provided,
however, that no such supplemental indenture shall, without the consent of the
holders of each Security then Outstanding and affected thereby, (i) extend
the fixed maturity of any Securities of any series, or reduce the principal
amount thereof, or reduce the rate or extend the time of payment of interest
thereon, or reduce any premium payable upon the redemption thereof, (ii) reduce
the aforesaid percentage of Securities, the holders of which are required to
consent to any such supplemental indenture, or any consent or waiver, (iii) reduce
the principal amount of discount securities payable upon acceleration of the
maturity of any Securities of any series or (iv) make the principal of or
premium or interest on any Security of a series payable in currency or currency
units other than that stated in the Securities of such series.

 

It
shall not be necessary for the consent of the Securityholders of any series
affected thereby under this Section to approve the particular form of any
proposed supplemental indenture, but it shall be sufficient if such consent
shall approve the substance thereof.

 

SECTION 9.03               Effect of
Supplemental Indentures.

 

Upon
the execution of any supplemental indenture pursuant to the provisions of this Article or
of Section 10.01, this Indenture shall, with respect to such series, be
and be deemed to be modified and amended in accordance therewith and the
respective rights, limitations of rights, obligations, duties and immunities
under this Indenture of the Trustee, the Company and the holders of Securities
of the series affected thereby shall thereafter be determined, exercised and
enforced hereunder subject in all respects to such modifications and
amendments, and all the terms and conditions of any such supplemental indenture
shall be and be deemed to be part of the terms and conditions of this Indenture
for any and all purposes.

 

SECTION 9.04               Securities Affected by Supplemental
Indentures.

 

Securities
of any series affected by a supplemental indenture, authenticated and delivered
after the execution of such supplemental indenture pursuant to the provisions
of this Article or of Section 10.01, may bear a notation in form
approved by the Company, provided such form meets the requirements of any
exchange upon which such series may be listed, as to any matter provided for in
such supplemental indenture.  If the
Company shall so determine, new Securities of that series so modified as to
conform, in the opinion of the Board of Directors of the Company, to any
modification of this Indenture contained in any such supplemental indenture 

 

41

 

may
be prepared by the Company, authenticated by the Trustee and delivered in
exchange for the Securities of that series then Outstanding.

 

SECTION 9.04               Execution of
Supplemental Indentures.

 

Upon
the request of the Company, accompanied by its Board Resolutions authorizing
the execution of any such supplemental indenture, and upon the filing with the
Trustee of evidence of the consent of Securityholders required to consent
thereto as aforesaid, the Trustee shall join with the Company in the execution
of such supplemental indenture unless such supplemental indenture affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise,
in which case the Trustee may in its discretion but shall not be obligated to
enter into such supplemental indenture. 
The Trustee, subject to the provisions of Section 7.01, may receive
an Opinion of Counsel as conclusive evidence that any supplemental indenture
executed pursuant to this Article is authorized or permitted by, and
conforms to, the terms of this Article and that it is proper for the
Trustee under the provisions of this Article to join in the execution
thereof; provided, however, that such Opinion of Counsel need not be provided
in connection with the execution of a supplemental indenture that establishes
the terms of a series of Securities pursuant to Section 2.01 hereof.

 

Promptly
after the execution by the Company and the Trustee of any supplemental
indenture pursuant to the provisions of this Section, the Trustee shall
transmit by mail, first class postage prepaid, a notice, setting forth in
general terms the substance of such supplemental indenture, to the
Securityholders of all series affected thereby as their names and addresses
appear upon the Security Register.  Any
failure of the Trustee to mail such notice, or any defect therein, shall not,
however, in any way impair or affect the validity of any such supplemental
indenture.

 

ARTICLE X

 

SUCCESSOR ENTITY

 

SECTION 10.01             Company May Consolidate,
Etc.

 

Nothing
contained in this Indenture or in any of the Securities shall prevent any
consolidation or merger of the Company with or into any other Person (whether
or not affiliated with the Company) or successive consolidations or mergers in
which the Company or its successor or successors shall be a party or parties,
or shall prevent any sale, conveyance, transfer or other disposition of the
property of the Company or its successor or successors as an entirety, or
substantially as an entirety, to any other corporation (whether or not
affiliated with the Company or its successor or successors) authorized to
acquire and operate the same; provided, however, the Company hereby covenants
and agrees that, upon any such consolidation or merger (in each case, if the
Company is not the survivor of such transaction), sale, conveyance, transfer or
other disposition, the due and punctual payment of the principal of (premium,
if any) and interest on all of the Securities of all series in accordance with
the terms of each series, according to their tenor and the due and punctual
performance and observance of all the covenants and conditions of this
Indenture with respect to each series or established with respect to such
series pursuant to Section 2.01 to be kept or performed by the Company
shall be expressly assumed, by supplemental indenture (which shall conform to
the provisions of the Trust Indenture Act, as 

 

42

 

then
in effect) satisfactory in form to the Trustee executed and delivered to the
Trustee by the entity formed by such consolidation, or into which the Company
shall have been merged, or by the entity which shall have acquired such
property.

 

SECTION 10.02             Successor Entity
Substituted.

 

(a)           In case of any such consolidation, merger,
sale, conveyance, transfer or other disposition and upon the assumption by the
successor entity by supplemental indenture, executed and delivered to the
Trustee and satisfactory in form to the Trustee, of the due and punctual
payment of the principal of, premium, if any, and interest on all of the
Securities of all series Outstanding and the due and punctual performance of
all of the covenants and conditions of this Indenture or established with
respect to each series of the Securities pursuant to Section 2.01 to be
performed by the Company with respect to each series, such successor entity
shall succeed to and be substituted for the Company with the same effect as if
it had been named as the Company herein, and thereupon the predecessor
corporation shall be relieved of all obligations and covenants under this
Indenture and the Securities.

 

(b)           In case of any such consolidation, merger,
sale, conveyance,  transfer or other
disposition such changes in phraseology and form (but not in substance) may be
made in the Securities thereafter to be issued as may be appropriate.

 

(c)           Nothing contained in this Article shall
require any action by the Company in the case of a consolidation or merger of
any Person into the Company where the Company is the survivor of such
transaction, or the acquisition by the Company, by purchase or otherwise, of
all or any part of the property of any other Person (whether or not affiliated
with the Company).

 

SECTION 10.03             Evidence of Consolidation,
Etc. to Trustee.

 

The
Trustee, subject to the provisions of Section 7.01, may receive an Opinion
of Counsel as conclusive evidence that any such consolidation, merger, sale,
conveyance, transfer or other disposition, and any such assumption, comply with
the provisions of this Article.

 

ARTICLE XI

 

SATISFACTION AND DISCHARGE

 

SECTION 11.01             Satisfaction and
Discharge of Indenture.

 

If
at any time:  (a) the Company shall
have delivered to the Trustee for cancellation all Securities of a series
theretofore authenticated (other than any Securities that shall have been
destroyed, lost or stolen and that shall have been replaced or paid as provided
in Section 2.07) and Securities for whose payment money or Governmental
Obligations have theretofore been deposited in trust or segregated and held in
trust by the Company (and thereupon repaid to the Company or discharged from
such trust, as provided in Section 11.05); or (b) all such Securities
of a particular series not theretofore delivered to the Trustee for cancellation
shall have become 

 

43

 

due
and payable, or are by their terms to become due and payable within one year or
are to be called for redemption within one year under arrangements satisfactory
to the Trustee for the giving of notice of redemption, and the Company shall
deposit or cause to be deposited with the Trustee as trust funds the entire
amount in moneys or Governmental Obligations sufficient or a combination
thereof, sufficient (assuming that no tax liability will be imposed on the
Trustee) in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the
Trustee, to pay at maturity or upon redemption all Securities of that series
not theretofore delivered to the Trustee for cancellation, including principal
(and premium, if any) and interest due or to become due to such date of
maturity or date fixed for redemption, as the case may be, and if the Company
shall also pay or cause to be paid all other sums payable hereunder with
respect to such series by the Company then this Indenture shall thereupon cease
to be of further effect with respect to such series except for the provisions
of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10, that shall survive
until the date of maturity or redemption date, as the case may be, and Sections
7.06 and 11.05, that shall survive to such date and thereafter, and the
Trustee, on demand of the Company and at the cost and expense of the Company
shall execute proper instruments acknowledging satisfaction of and discharging
this Indenture with respect to such series.

 

SECTION 11.02             Discharge of
Obligations.

 

If
at any time all such Securities of a particular series not heretofore delivered
to the Trustee for cancellation or that have not become due and payable as
described in Section 11.01 shall have been paid by the Company by
depositing irrevocably with the Trustee as trust funds moneys or an amount of
Governmental Obligations sufficient to pay at maturity or upon redemption all
such Securities of that series not theretofore delivered to the Trustee for
cancellation, including principal (and premium, if any) and interest due or to
become due to such date of maturity or date fixed for redemption, as the case
may be, and if the Company shall also pay or cause to be paid all other sums
payable hereunder by the Company with respect to such series, then after the
date such moneys or Governmental Obligations, as the case may be, are deposited
with the Trustee the obligations of the Company under this Indenture with
respect to such series shall cease to be of further effect except for the
provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4.03, 7.06, 7.10 and 11.05
hereof that shall survive until such Securities shall mature and be paid
thereafter, Sections 7.06 and 11.05 shall survive.

 

SECTION 11.03             Deposited Moneys to
be Held in Trust.

 

Subject
to Section 11.05, all moneys or Governmental Obligations deposited with
the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and
shall be available for payment as due, either directly or through any paying
agent (including the Company acting as its own paying agent), to the holders of
the particular series of Securities for the payment or redemption of which such
moneys or Governmental Obligations have been deposited with the Trustee.

 

SECTION 11.04             Payment of Moneys
Held by Paying Agents.

 

In
connection with the satisfaction and discharge of this Indenture all moneys or
Governmental Obligations then held by any paying agent under the provisions of
this Indenture shall, upon 

 

44

 

demand
of the Company, be paid to the Trustee and thereupon such paying agent shall be
released from all further liability with respect to such moneys or Governmental
Obligations.

 

SECTION 11.05             Repayment to Company.

 

Any
moneys or Governmental Obligations deposited with any paying agent or the
Trustee, or then held by the Company, in trust for payment of principal of or
premium or interest on the Securities of a particular series that are not
applied but remain unclaimed by the holders of such Securities for two years
after the date upon which the principal of (and premium, if any) or interest on
such Securities shall have respectively become due and payable, shall be repaid
to the Company or (if then held by the Company) shall be discharged from such
trust in each case, promptly after the end of any such two-year period or, at
the request of the Company, on a later date specified by the Company; and
thereupon the paying agent and the Trustee shall be released from all further
liability with respect to such moneys or Governmental Obligations, and the
holder of any of the Securities entitled to receive such payment shall thereafter,
as an unsecured general creditor, look only to the Company for the payment
thereof.

 

ARTICLE XII

 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS,

OFFICERS AND DIRECTORS

 

SECTION 12.01             No Recourse.

 

No
recourse under or upon any obligation, covenant or agreement of this Indenture,
or of any Security, or for any claim based thereon or otherwise in respect
thereof, shall be had against any incorporator, stockholder, officer or
director, past, present or future as such, of the Company or of any predecessor
or successor corporation, either directly or through the Company or any such
predecessor or successor corporation, whether by virtue of any constitution,
statute or rule of law, or by the enforcement of any assessment or penalty
or otherwise; it being expressly understood that this Indenture and the
obligations issued hereunder are solely corporate obligations, and that no such
personal liability whatever shall attach to, or is or shall be incurred by, the
incorporators, stockholders, officers or directors as such, of the Company or
of any predecessor or successor corporation, or any of them, because of the
creation of the indebtedness hereby authorized, or under or by reason of the
obligations, covenants or agreements contained in this Indenture or in any of
the Securities or implied therefrom; and that any and all such personal
liability of every name and nature, either at common law or in equity or by
constitution or statute, of, and any and all such rights and claims against,
every such incorporator, stockholder, officer or director as such, because of
the creation of the indebtedness hereby authorized, or under or by reason of
the obligations, covenants or agreements contained in this Indenture or in any
of the Securities or implied therefrom, are hereby expressly waived and
released as a condition of, and as a consideration for, the execution of this
Indenture and the issuance of such Securities.

 

45

 

ARTICLE XIII

 

MISCELLANEOUS PROVISIONS

 

SECTION 13.01             Effect on Successors
and Assigns.

 

All
the covenants, stipulations, promises and agreements in this Indenture
contained by or on behalf of the Company shall bind its successors and assigns,
whether so expressed or not.

 

SECTION 13.02             Actions by Successor.

 

Any
act or proceeding by any provision of this Indenture authorized or required to
be done or performed by any board, committee or officer of the Company shall
and may be done and performed with like force and effect by the corresponding
board, committee or officer of any corporation that shall at the time be the
lawful successor of the Company.

 

SECTION 13.03             Surrender of Company
Powers.

 

The
Company by instrument in writing executed by authority of its Board of
Directors and delivered to the Trustee may surrender any of the powers reserved
to the Company, and thereupon such power so surrendered shall terminate both as
to the Company and as to any successor corporation.

 

SECTION 13.04             Notices.

 

Except
as otherwise expressly provided herein any notice or demand that by any
provision of this Indenture is required or permitted to be given or served by
the Trustee or by the holders of Securities to or on the Company may be given
or served by being deposited first class postage prepaid in a post-office
letterbox addressed (until another address is filed in writing by the Company
with the Trustee), as follows:  [   ]. 
Any notice, election, request or demand by the Company or any
Securityholder to or upon the Trustee shall be deemed to have been sufficiently
given or made, for all purposes, if given or made in writing at the Corporate
Trust Office of the Trustee.  Any notice
or communication to a holder shall be mailed by first-class mail to his address
shown on the Security Register kept by the Security Registrar.  Failure to mail a notice or communication to
a holder or any defect in such notice or communication shall not affect its
sufficiency with respect to other holders. 
If a notice or communication is mailed or sent in the manner provided
above within the time prescribed, it is duly given as of the date it is mailed,
whether or not the addressee receives it, except that notice to the Trustee or
the Company shall only be effective upon receipt thereof by the Trustee or the
Company, respectively.  If the Company mails
a notice or communication to holders of Securities, it shall mail a copy to the
Trustee at the same time.

 

SECTION 13.05             Governing Law.

 

This
Indenture and each Security shall be deemed to be a contract made under the
internal laws of the State of New York, and for all purposes shall be construed
in accordance with the laws of said State.

 

46

 

SECTION 13.06             Treatment of
Securities as Debt.

 

It
is intended that the Securities will be treated as indebtedness and not as
equity for federal income tax purposes. 
The provisions of this Indenture shall be interpreted to further this
intention.

 

SECTION 13.07             Compliance
Certificates and Opinions.

 

(a)           Upon any
application or demand by the Company to the Trustee to         take any action under any of the provisions of
this Indenture,  the Company, shall furnish to the Trustee an
Officers’ Certificate stating that all conditions precedent provided for in
this Indenture relating to the proposed action have been complied with and an
Opinion of Counsel stating that in the opinion of such counsel all such
conditions precedent have been complied with, except that in the case of any
such application or demand as to which the furnishing of such documents is
specifically required by any provision of this Indenture relating to such
particular application or demand, no additional certificate or opinion need be
furnished.

 

(b)           Each
certificate or opinion provided for in this Indenture and delivered to the
Trustee with respect to compliance with a condition or covenant in this
Indenture shall include (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; and (4) a statement as
to whether or not, in the opinion of such Person, such condition or covenant
has been complied with.

 

SECTION 13.08             Payments on Business
Days.

 

Except
as provided pursuant to Section 2.01 pursuant to a Board Resolution, and
as set forth in an Officers’ Certificate, or established in one or more
indentures supplemental to this Indenture, in any case where the date of
maturity of interest or principal of any Security or the date of redemption of
any Security shall not be a Business Day, then payment of interest or principal
(and premium, if any) may be made on the next succeeding Business Day with the
same force and effect as if made on the nominal date of maturity or redemption,
and no interest shall accrue for the period after such nominal date.

 

SECTION 13.09             Conflict with Trust
Indenture Act.

 

If
and to the extent that any provision of this Indenture limits, qualifies or
conflicts with the duties imposed by Sections 310 to 317, inclusive, of the
Trust Indenture Act, such imposed duties shall control.

 

47

 

SECTION 13.10             Counterparts.

 

This
Indenture may be executed in any number of counterparts, each of which shall be
an original, but such counterparts shall together constitute but one and the
same instrument.

 

SECTION 13.11             Separability.

 

In
case any one or more of the provisions contained in this Indenture or in the
Securities of any series shall for any reason be held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability
shall not affect any other provisions of this Indenture or of such Securities,
but this Indenture and such Securities shall be construed as if such invalid or
illegal or unenforceable provision had never been contained herein or therein.

 

SECTION 13.12             Assignment.

 

The
Company will have the right at all times to assign any of its rights or
obligations under this Indenture to a direct or indirect wholly-owned Subsidiary
of the Company, provided that, in the event of any such assignment, the
Company, will remain liable for all such obligations.  Subject to the foregoing, this Indenture is
binding upon and inures to the benefit of the parties thereto and their respective
successors and assigns.  This Indenture
may not otherwise be assigned by the parties thereto.

 

IN
WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly
executed all as of the day and year first above written.

 

	
   

  	
  SYNTA
  PHARMACEUTICALS CORP.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [                                      ],

  
	
   

  	
  As
  Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

48

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