Document:

EX-10.3

 

EXHIBIT
10.3

Baldwin Europe Consolidated B.V.

Baldwin Technology Company, Inc.

2 Trap Falls Road

Suite 402

Shelton, Connecticut, USA 06484

LaSalle Bank National Association, as Administrative Agent

135 South LaSalle Street

Chicago, Illinois 60603

November 21, 2006

Payoff of Loans and Related Obligations 

Ladies and Gentlemen:

Reference is made to (i) the Credit Agreement dated as of July 25, 2003 among Baldwin Europe
Consolidated B.V. (the “Borrower”), Baldwin Technology Company, Inc. (the
“Parent”), the Guarantor Subsidiaries (as defined therein) and Maple Bank GmbH as lender
(the “Lender”), as amended by the First Amendment to Credit Agreement dated as of September
9, 2004 among the parties thereto and as further amended by the Second Amendment and Waiver to
Credit Agreement dated as of July 1, 2005 among the parties thereto (the “Credit
Agreement”) and (ii) the other Credit Documents (as defined in the Credit Agreement). The
Lender understands that the Parent expects to obtain financing pursuant to a new credit agreement
under which LaSalle Bank National Association shall act as Administrative Agent (the
“Administrative Agent”; the lender(s) under such new credit agreement are collectively
referred to below as the “New Lenders”) for the purpose of, among other things, providing a
loan to the Borrower the proceeds of which will be used to pay in full all obligations and
liabilities of the Borrower to the Lender under or in respect of the Credit Agreement and the other
Credit Documents. All undefined capitalized terms used herein shall have the meanings set forth in
the Credit Agreement.

Upon the Lender’s receipt on or after the date hereof (but no later than November 22, 2006) of (i)
a wire transfer to the account noted below in the amount listed below as the “Total Payoff Amount”
plus any applicable Per Diem amount specified below for each day after the date hereof through the
payoff date (such amount, the “Payoff Amount”):

 

 

	 	 	 	 	 
	Outstanding principal amount as of the date hereof
	 	$	6,584,351.57	 
	Accrued but unpaid interest through the date hereof
	 	$	28,279.05	 
	L/C Cash Collateralization Amount
	 	$	2,851,287.84	 
	Total principal, interest and cash collateralization amount
in USD due on 11/21/2006:
	 	$	9,463,918.46	 
	Accrued but unpaid Commitment Fee through the date hereof
	 	$	6,072.39	 
	Accrued but unpaid Maintenance Fee through the date hereof
	 	$	11,000.00	 
	Termination Fee
	 	$	100,000.00	 
	L/C Fee
	 	$	22,162.98	 
	Maple’s Legal Fee
	 	$	23,000.00	 
	Total Fees in USD due on 11/21/2006:
	 	$	162,235.37	 
	TOTAL PAYOFF AMOUNT IN USD DUE ON 11/21/2006
	 	$	9,626,153.83	 
	Per Diem for 11/22/2006 (already included in the above
mentioned figures):
	 	$	2,074.70	 

(to be received prior to 2:00 p.m. (EST time) on the given payoff date (the “Cutoff Time”)),
which amount represents all of the Obligations outstanding under the Credit Agreement and the other
Credit Documents as well as the amount necessary to cash collateralize all letters of credit and
bank guarantees issued under the Credit Agreement together with related fees and (ii) a fully
executed counterpart of this letter agreement (“Agreement”) signed by the Borrower, the Parent and
the Administrative Agent (the time at which each of the conditions in the foregoing clauses (i) and
(ii) shall first be satisfied is herein referred to as the “Payoff Effective Time”), the Lender
hereby agrees that (a) all outstanding indebtedness (including, without limitation, for principal,
interest, fees, costs and expenses) and other Obligations of the Borrower and the other Credit
Parties shall be paid, performed and satisfied in full and

 

 

discharged, terminated and released, (b) all security interests, liens and other rights of the
Lender in and to any and all assets of the Parent, the Borrower and the other Credit Parties
granted to or held by the Lender in any property of any Credit Party as security for such
indebtedness and other Obligations (including all Collateral) shall automatically be terminated,
released, discharged and reassigned with no further action required from any Person and (c) the
Credit Agreement and each of the other Credit Documents shall terminate and be of no further force
or effect; provided, however, that, notwithstanding anything herein to the
contrary, (i) Sections 8.16, 12.01 and 12.12 of the Credit Agreement shall survive in accordance
with their terms, (ii) Sections 1.07(a), 1A.04, 4.04, 10.01 and, with respect to the Borrower and
the Parent only, 10.05, and with respect to the Parent only, 13, of the Credit Agreement shall
survive with respect to the letters of credit and bank guarantees issued by the Lender and listed
on Schedule A hereto (the “Specified Obligations”) and (iii) Section 11 shall survive in accordance
with its terms to the extent necessary to give effect to or for the interpretation of the other
surviving provisions of the Credit Agreement. It is anticipated that the Specified Obligations
shall be supported by letters of credit issued by LaSalle Bank National Association (in such
capacity, the “Issuing Bank”) in the form attached hereto as Schedule B (the “Backstop Letters of
Credit. Upon receipt by the Lender of the issued Backstop Letters of Credit, the Lender shall
return to the Parent, or as the Parent shall direct, an amount in US Dollars equal to the “L/C Cash
Collateralization Amount” as specified above. The Lender hereby agrees to (x) notify the Parent
and the Issuing Bank of any cancellation or termination of, or if known to the Lender, reduction of
liability in respect of, any Specified Obligation as contemplated by the Backstop Letters of
Credit, provided that the failure to so notify the Parent shall have no effect on any of the
obligations or liabilities of the Parent hereunder, (y) return to the Issuing Bank for cancellation
each Backstop Letter of Credit upon the expiration or other termination of the last to expire or
terminate Specified Obligation referred to in such Backstop Letter of Credit (after making, and
giving effect to, any drawings under such Backstop Letter of Credit permitted at such time) and (z)
return any Per Diem amount to the Parent to the extent received by the Lender prior to the Cutoff
Time such that such amount was not in fact owing to the Lender at the time received.

Further, Lender (a) releases to the Parent, on and after the Payoff Effective Time, all of the
release and termination documents and instruments listed on Schedule C hereto (collectively the
“Release Documents”) and all of the promissory notes, stock certificates, instruments and other
property of the Parent, the Borrower and the other Credit Parties listed on Schedule D hereto, (b)
authorizes the Parent to file or cause to be filed, on and after the Payoff Effective Time, all
UCC-3 termination statements and other applicable Release Documents and (c) agrees to take all
additional actions and execute and deliver all additional documents and instruments reasonably
requested by the Parent, the Borrower, any other Credit Party or the Administrative Agent as may be
necessary or appropriate to release and evidence satisfaction of the Lender’s Liens in the
Collateral and/or the terminations set forth above. The Parent (i) agrees to reimburse the Lender
for all reasonable out-of-pocket costs and expenses (including, without limitation, reasonable
legal costs and expenses) incurred by the

 

 

Lender in connection with the matters referred to in this Agreement, (ii) acknowledges that the
Lender’s execution of and/or delivery of any documents or instruments releasing any security
interest or claim in any property of the Borrower, the Parent or any other Credit Party as set
forth herein is made without recourse, representation, warranty or other assurance of any kind by
the Lender as to the Lender’s rights in any collateral security for amounts owing under the Credit
Documents, the condition or value of any Collateral or any other matter (except as to the Lender’s
continued ownership of the Obligations and right and authority to make the agreements set forth
herein and in such documents) and (iii) agrees to indemnify (x) the Lender, its officers,
directors, employees, representatives and agents from and against any and all liabilities,
obligations, losses, damages, claims, actions, costs and expenses incurred by or imposed upon them
arising out of or in any way related to the execution and delivery by the Lender of any of the
Release Documents and any additional actions and documents described in the preceding sentence and
(y) the Lender from and against any losses incurred or suffered by the Lender as a result of the
L/C Cash Collateralization Amount being equal to less than EUR 1,594,201.69 after converting from
U.S. Dollars to Euros at the spot rate because of fluctuations in the applicable exchange rate.

The Borrower hereby confirms that the commitments of the Lender to make Loans or issue any Letters
of Credit shall be terminated as of the Payoff Effective Time and, as of the Payoff Effective Time,
the Lender shall not have any further obligation to make Loans to the Borrower or issue any Letters
of Credit. It is agreed and understood in connection with the calculation of the Payoff Amount
(including any applicable Per Diem amount) that the Borrower will not and shall not borrow any new
Revolving Loans or request any new Letters of Credit on or after the date hereof until such time
(if any) as the parties hereto agree in writing.

The Payoff Amount referred to above should be sent by wire transfer pursuant to the following
wiring instructions:

	 	 	 
	Accountholder:
	 	Maple Bank GmbH
	 
	 	Feuerbachstrasse 26-32
	 
	 	60325 Frankfurt am Main
	 
	 	Germany
	SWIFT:
	 	MPBKDEFFXXX
	Account held with:
	 	Harris N.A.
	Account No.:
	 	331-678-3
	SWIFT:
	 	HATRUS44
	FW:
	 	071000288

 

 

This Agreement shall be governed by the internal laws of the State of New York, United States. No
party may assign its rights, duties or obligations under this Agreement without the prior written
consent of the other parties. This Agreement may be executed in any number of separate
counterparts, each of which shall, collectively and separately, constitute one agreement. Legal
delivery of this Agreement may be made by, among other methods, telecopy or e-mail. In addition to
the Lender, the Borrower, the Parent and the Administrative Agent, the Subsidiary Guarantors and
the New Lenders may rely on this Agreement.

If you need additional information, please do not hesitate to contact us.

Sincerely yours,

Maple Bank GmbH

	 	 	 	 
	/s/ Jürgen Daume

	 	/s/ Oliver Lenauer	 
	 
	 	 	 
	Jürgen Daume

	 	Oliver Lenauer	 
	Vice President

	 	Vice President	 

 

 

	 	 	 	 	 
	ACCEPTED and AGREED:	 	 
	 
	 	 	 	 
	BALDWIN EUROPE CONSOLIDATED B.V.	 	 
	 
	 	 	 	 
	By
	 	/s/ Vijay C. Tharani	 	 
	 

	 	 

	 	 
	Its
	 	Managing Director	 	 
	 
	 	 	 	 
	BALDWIN TECHNOLOGY COMPANY, INC.	 	 
	 
	 	 	 	 
	By
	 	/s/ Gerald A Nathe	 	 
	 

	 	 

	 	 
	Its
	 	Chairman and Chief Executive Officer	 	 
	 
	 	 	 	 
	LASALLE BANK NATIONAL ASSOCIATION, as 

Administrative Agent	 	 
	 
	 	 	 	 
	By
	 	/s/ Lincoln Schoff	 	 
	 

	 	 

	 	 
	Its
	 	SVPexv4w1

 

Exhibit 4.1

EXECUTED VERSION

INDENTURE

among

LEAR CORPORATION,

as Issuer,

THE GUARANTORS PARTY HERETO FROM TIME TO TIME,

as Guarantors,

and

THE BANK OF NEW YORK TRUST COMPANY, N.A.,

as Trustee

$300,000,000 8 1/2% Senior Notes due 2013

$600,000,000 8 3/4% Senior Notes due 2016

Dated as of November 24, 2006

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE
	 	 	1	 
	 
	 	 	 	 
	SECTION 1.01. Definitions
	 	 	1	 
	SECTION 1.02. Incorporation by Reference of Trust Indenture Act
	 	 	12	 
	SECTION 1.03. Rules of Construction
	 	 	12	 
	 
	 	 	 	 
	ARTICLE II THE NOTES
	 	 	13	 
	 
	 	 	 	 
	SECTION 2.01. Form and Dating
	 	 	13	 
	SECTION 2.02. Restrictive Legends
	 	 	14	 
	SECTION 2.03. Execution and Authentication
	 	 	16	 
	SECTION 2.04. Registrar and Paying Agent
	 	 	16	 
	SECTION 2.05. Paying Agent to Hold Assets in Trust
	 	 	17	 
	SECTION 2.06. Holder Lists
	 	 	17	 
	SECTION 2.07. General Provisions Relating to Transfer and Exchange
	 	 	17	 
	SECTION 2.08. Book-Entry Provisions for Global Notes
	 	 	19	 
	SECTION 2.09. Special Transfer Provisions
	 	 	20	 
	SECTION 2.10. Replacement Notes
	 	 	23	 
	SECTION 2.11. Outstanding Notes
	 	 	24	 
	SECTION 2.12. Treasury Notes
	 	 	24	 
	SECTION 2.13. Temporary Notes
	 	 	24	 
	SECTION 2.14. Cancellation
	 	 	24	 
	SECTION 2.15. CUSIP Numbers
	 	 	25	 
	SECTION 2.16. Defaulted Interest
	 	 	25	 
	SECTION 2.17. Special Record Dates
	 	 	25	 
	SECTION 2.18. Issuance of Additional Notes
	 	 	25	 
	 
	 	 	 	 
	ARTICLE III REDEMPTION
	 	 	26	 
	 
	 	 	 	 
	SECTION 3.01. Notices to Trustee
	 	 	26	 
	SECTION 3.02. Selection of Notes to Be Redeemed
	 	 	26	 
	SECTION 3.03. Notice of Redemption
	 	 	26	 
	SECTION 3.04. Effect of Notice of Redemption
	 	 	27	 
	SECTION 3.05. Deposit of Redemption Price
	 	 	27	 
	SECTION 3.06. Notes Redeemed in Part
	 	 	27	 
	SECTION 3.07. Optional Redemption
	 	 	27	 
	 
	 	 	 	 
	ARTICLE IV COVENANTS
	 	 	29	 
	 
	 	 	 	 
	SECTION 4.01. Payment of Notes
	 	 	29	 
	SECTION 4.02. Maintenance of Office or Agency
	 	 	30	 
	SECTION 4.03. Reports
	 	 	30	 
	SECTION 4.04. Compliance Certificate
	 	 	31	 
	SECTION 4.05. Taxes
	 	 	31	 
	SECTION 4.06. Corporate Existence
	 	 	31	 
	SECTION 4.07. Limitation on Liens
	 	 	32	 
	SECTION 4.08. Limitation on Sale and Lease-Back Transactions
	 	 	32	 
	SECTION 4.09. Change of Control
	 	 	33	 

i

 

TABLE OF CONTENTS
(continued)

	 	 	 	 	 
	 	 	Page
	ARTICLE V MERGER, ETC
	 	 	34	 
	 
	 	 	 	 
	SECTION 5.01. When Company May Merge, etc
	 	 	34	 
	SECTION 5.02. Successor Corporation Substituted
	 	 	34	 
	 
	 	 	 	 
	ARTICLE VI DEFAULTS AND REMEDIES
	 	 	35	 
	 
	 	 	 	 
	SECTION 6.01. Events of Default
	 	 	35	 
	SECTION 6.02. Acceleration
	 	 	36	 
	SECTION 6.03. Other Remedies
	 	 	36	 
	SECTION 6.04. Waiver of Past Defaults
	 	 	37	 
	SECTION 6.05. Control by Majority
	 	 	37	 
	SECTION 6.06. Limitation on Suits
	 	 	37	 
	SECTION 6.07. Rights of Holders To Receive Payment
	 	 	38	 
	SECTION 6.08. Collection Suit by Trustee
	 	 	38	 
	SECTION 6.09. Trustee May File Proofs of Claim
	 	 	38	 
	SECTION 6.10. Priorities
	 	 	38	 
	SECTION 6.11. Undertaking for Costs
	 	 	39	 
	SECTION 6.12. Stay, Extension and Usury Laws
	 	 	39	 
	 
	 	 	 	 
	ARTICLE VII TRUSTEE
	 	 	39	 
	 
	 	 	 	 
	SECTION 7.01. Duties of Trustee
	 	 	39	 
	SECTION 7.02. Rights of Trustee
	 	 	41	 
	SECTION 7.03. Individual Rights of Trustee
	 	 	42	 
	SECTION 7.04. Money Held in Trust
	 	 	42	 
	SECTION 7.05. Trustee’s Disclaimer
	 	 	42	 
	SECTION 7.06. Notice of Defaults
	 	 	42	 
	SECTION 7.07. Reports by Trustee to Holders
	 	 	43	 
	SECTION 7.08. Compensation and Indemnity
	 	 	43	 
	SECTION 7.09. Replacement of Trustee
	 	 	44	 
	SECTION 7.10. Successor Trustee by Merger, Etc
	 	 	45	 
	SECTION 7.11. Eligibility; Disqualification
	 	 	45	 
	SECTION 7.12. Preferential Collection of Claims Against the Company
	 	 	45	 
	 
	 	 	 	 
	ARTICLE VIII DISCHARGE OF INDENTURE
	 	 	45	 
	 
	 	 	 	 
	SECTION 8.01. Satisfaction and Discharge of Indenture
	 	 	45	 
	SECTION 8.02. Application of Trust Funds; Indemnification
	 	 	46	 
	SECTION 8.03. Legal Defeasance
	 	 	46	 
	SECTION 8.04. Covenant Defeasance
	 	 	48	 
	SECTION 8.05. Repayment to Company
	 	 	49	 
	 
	 	 	 	 
	ARTICLE IX AMENDMENTS, SUPPLEMENTS AND WAIVERS
	 	 	49	 
	 
	 	 	 	 
	SECTION 9.01. Without Consent of Holders
	 	 	49	 
	SECTION 9.02. With Consent of Holders
	 	 	50	 
	SECTION 9.03. Compliance with Trust Indenture Act
	 	 	52	 

ii

 

TABLE OF CONTENTS
(continued)

	 	 	 	 	 
	 	 	Page
	SECTION 9.04. Revocation and Effect of Consents
	 	 	52	 
	SECTION 9.05. Notation on or Exchange of Notes
	 	 	52	 
	SECTION 9.06. Trustee to Sign Amendment, etc
	 	 	52	 
	 
	 	 	 	 
	ARTICLE X GUARANTEES
	 	 	53	 
	 
	 	 	 	 
	SECTION 10.01. Guarantees
	 	 	53	 
	SECTION 10.02. Obligations of Guarantors Unconditional
	 	 	55	 
	SECTION 10.03. Limitation on Guarantors’ Liability
	 	 	55	 
	SECTION 10.04. Releases of Guarantees
	 	 	55	 
	SECTION 10.05. Application of Certain Terms and Provisions to Guarantors
	 	 	56	 
	SECTION 10.06. Additional Guarantors
	 	 	56	 
	 
	 	 	 	 
	ARTICLE XI MISCELLANEOUS
	 	 	57	 
	 
	 	 	 	 
	SECTION 11.01. Trust Indenture Act Controls
	 	 	57	 
	SECTION 11.02. Notices
	 	 	57	 
	SECTION 11.03. Communication by Holders with Other Holders
	 	 	58	 
	SECTION 11.04. Certificate and Opinion as to Conditions Precedent
	 	 	58	 
	SECTION 11.05. Statements Required in Certificate or Opinion
	 	 	58	 
	SECTION 11.06. Rules by Trustee and Agents
	 	 	59	 
	SECTION 11.07. Legal Holidays
	 	 	59	 
	SECTION 11.08. Duplicate Originals
	 	 	59	 
	SECTION 11.09. Governing Law
	 	 	59	 
	SECTION 11.10. No Adverse Interpretation of Other Agreements
	 	 	59	 
	SECTION 11.11. Successors
	 	 	59	 
	SECTION 11.12. Severability
	 	 	59	 
	SECTION 11.13. Counterpart Originals
	 	 	59	 
	SECTION 11.14. Submission to Jurisdiction
	 	 	60	 
	SECTION 11.15. Waiver of Jury Trial
	 	 	60	 
	SECTION 11.16. Force Majeure
	 	 	60	 

iii

 

	 	 	 	 	 
	EXHIBIT A-1: Form of Note	 	A-1
	 
	 	 	 	 
	EXHIBIT A-2: Form of Note	 	A-2
	 
	 	 	 	 
	EXHIBIT B:

	 	Form of Certificate to be Delivered By Transferee in Connection with
Transfers to Institutional Accredited Investors Which are Not Qualified
Institutional Buyers
	 	B-1
	 
	 	 	 	 
	EXHIBIT C:

	 	Form of Certificate to be Delivered By Transferor in Connection with
Transfers Pursuant to Regulation S
	 	C-1
	 
	 	 	 	 
	EXHIBIT D:

	 	Form of Notation of Guarantee
	 	D-1

iv

 

CROSS-REFERENCE TABLE*

	 	 	 	 	 
	Trust Indenture	 	Indenture
	Act Section	 	Section
	310(a)(1)
	 	 	7.11	 
	(a)(2)
	 	 	7.11	 
	(a)(3)
	 	 	n/a	 
	(a)(4)
	 	 	n/a	 
	(a)(5)
	 	 	7.11	 
	(b)
	 	 	7.03; 7.11	 
	(c)
	 	 	n/a	 
	311(a)
	 	 	7.12	 
	(b)
	 	 	7.12	 
	(c)
	 	 	n/a	 
	312(a)
	 	 	2.06	 
	(b)
	 	 	11.03	 
	(c)
	 	 	11.03	 
	313(a)
	 	 	7.07	 
	(b)(1)
	 	 	n/a	 
	(b)(2)
	 	 	7.07; 7.08	 
	(c)
	 	 	7.07;11.02	 
	(d)
	 	 	7.07	 
	314(a)(1), (2), (3)
	 	 	4.03;11.05	 
	(a)(4)
	 	 	4.04	 
	(b)
	 	 	n/a	 
	(c)(1)
	 	 	11.04	 
	(c)(2)
	 	 	11.04	 
	(c)(3)
	 	 	n/a	 
	(d)
	 	 	n/a	 
	(e)
	 	 	11.05	 
	(f)
	 	 	n/a	 
	315(a)
	 	 	7.01	(b)
	(b)
	 	 	7.06;11.02	 
	(c)
	 	 	7.01	(a)
	(d)
	 	 	7.01	(c)
	(e)
	 	 	6.11	 
	316(a)(last sentence)
	 	 	2.12	 
	(a)(1)(A)
	 	 	6.05	 
	(a)(1)(B)
	 	 	6.04	 
	(a)(2)
	 	 	n/a	 
	(b)
	 	 	6.07	 
	(c)
	 	 	9.04	 
	317(a)(1)
	 	 	6.08	 
	(a)(2)
	 	 	6.09	 
	(b)
	 	 	2.04	 

v

 

	 	 	 	 	 
	Trust Indenture	 	Indenture
	Act Section	 	Section
	318(a)
	 	 	11.01	 
	(b)
	 	 	n/a	 
	(c)
	 	 	11.01	 

 

		
	 	“n/a” means not applicable.
	 
	 	*This Cross–Reference Table shall not, for any purpose, be deemed to be a part of the Indenture.

vi

 

     Indenture, dated as of November 24, 2006, among Lear Corporation, a Delaware corporation
(the “Company”), as issuer, the companies listed on the signature pages hereto that are
subsidiaries of the Company (the “Guarantors”), and The Bank of New York Trust Company, N.A., a
national banking association, as trustee (the “Trustee”).

RECITALS OF THE COMPANY AND THE GUARANTORS

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance of its 8 1/2% Senior Notes due 2013 (the “2013 Notes”) and its 8 3/4% Senior Notes due
2016 (the “2016 Notes” and, together with the 2013 Notes, the “Initial Notes”), and, if and when
issued in exchange for Initial Notes as provided in the Registration Rights Agreement (as defined
herein), its 8 1/2% Series B Senior Notes due 2013 (the “2013 Exchange Notes”) and its 8 3/4% 2016
Series B Senior Notes, as applicable (the “2016 Exchange Notes” and, together with the 2013
Exchange Notes, the “Exchange Notes” and, together with the Initial Notes, the “Notes”).

     The Guarantors have duly authorized the execution and delivery of this Indenture to provide
guarantees of the Notes and of certain of the obligations of the Company hereunder.

     All things necessary to make this Indenture a valid and legally binding agreement of the
Company and the Guarantors, in accordance with its terms, have been done.

     Upon the issuance of the Exchange Notes, if any, or the effectiveness of the Shelf
Registration Statement (as defined herein), this Indenture shall be subject to, and shall be
governed by, the provisions of the Trust Indenture Act of 1939, as amended, that are required or
deemed to be part of and to govern indentures qualified thereunder.

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

     For and in consideration of the premises and the purchase of the Notes by the Holders thereof,
it is mutually covenanted and agreed for the equal and ratable benefit of the Holders of the
Initial Notes, and if and when issued, the Exchange Notes, as follows:

ARTICLE I

DEFINITIONS AND INCORPORATION BY REFERENCE

     SECTION 1.01. Definitions.

     “144A Global Note” means a Global Note in the form of Exhibit A-1 or Exhibit A-2 hereto
bearing the Global Note Legend and the Transfer Restricted Securities Legend and deposited with and
registered in the name of the Depositary or its nominee issued in a denomination equal to the
outstanding principal amount of the 2013 Notes or 2016 Notes, as applicable, sold for initial
resale in reliance on Rule 144A.

     “2008 Notes” means the 8.125% Euro-denominated Senior Notes due 2008 issued pursuant to the
2008 Note Indenture.

 

 

     “2008 Note Indenture” means the Indenture, dated as March 20, 2001, by and among Lear, the
guarantors named therein and The Bank of New York Trust Company, N.A., as trustee, as amended by
Supplemental Indenture No. 1 to the 2008 Note Indenture, dated as of November 16, 2001, by and
among Lear, the guarantors named therein and The Bank of New York Trust Company, N.A., as trustee,
Supplemental Indenture No. 2 to the 2008 Note Indenture, dated as of January 15, 2002, by and among
Lear, the guarantors named therein and The Bank of New York Trust Company, N.A., as trustee,
Supplemental Indenture No. 3 to the 2008 Note Indenture, dated as of December 15, 2005, by and
among Lear, the guarantors named therein and The Bank of New York Trust Company, N.A., as trustee,
Supplemental Indenture No. 4 to the 2008 Note Indenture, dated as of April 15, 2006, by and among
Lear, the guarantors named therein and The Bank of New York Trust Company, N.A., as trustee, and as
may be further amended, modified or supplemented from time to time.

     “2009 Notes” means the 8.11% Senior Notes due 2009 issued pursuant to the 2009 Note Indenture.

     “2009 Note Indenture” means the Indenture, dated as of May 15, 1999, by and among Lear, the
guarantors named therein and The Bank of New York Trust Company, N.A., as trustee, as amended by
Supplemental Indenture No. 1 to the 2009 Note Indenture, dated as of May 2, 2000, by and among
Lear, the guarantors named therein and The Bank of New York Trust Company, N.A., as trustee,
Supplemental Indenture No. 2 to the 2009 Note Indenture, dated as of November 16, 2001, by and
among Lear, the guarantors named therein and The Bank of New York Trust Company, N.A., as trustee,
Supplemental Indenture No. 3 to the 2009 Note Indenture, dated as of January 15, 2002, by and among
Lear, the guarantors named therein and The Bank of New York Trust Company, N.A., as trustee,
Supplemental Indenture No. 4 to the 2009 Note Indenture, dated as of December 15, 2005, by and
among Lear, the guarantors named therein and The Bank of New York Trust Company, N.A., as trustee,
Supplemental Indenture No. 5 to the 2009 Note Indenture, dated as of April 15, 2006, by and among
Lear, the guarantors named therein and The Bank of New York Trust Company, N.A., as trustee, and as
may be further amended, modified or supplemented from time to time.

     “2014 Notes” means the 5.75% Senior Notes due 2014 issued pursuant to the 2014 Note Indenture.

     “2014 Note Indenture” means the Indenture, dated as of August 2, 2004, by and among Lear, the
guarantors named therein and The Bank of New York Trust Company, N.A., as trustee, as amended by
Supplemental Indenture No. 1 to the 2014 Note Indenture, dated as of December 15, 2005, by and
among Lear, the guarantors named therein and The Bank of New York Trust Company, N.A., as trustee,
Supplemental Indenture No. 2 to the 2014 Note Indenture, dated as of April 15, 2006, by and among
Lear, the guarantors named therein and The Bank of New York Trust Company, N.A., as trustee and as
may be further amended, modified or supplemented from time to time.

     “Acquired Indebtedness” means Indebtedness of a Person or any of its Restricted Subsidiaries
existing at the time such Person becomes a Restricted Subsidiary of the Company or assumed in
connection with the acquisition of assets from such Person and not incurred by such

2

 

Person in contemplation of such Person becoming a Restricted Subsidiary of the Company or such
acquisition, and any refinancings thereof.

     “Additional Interest” means additional interest as defined in Section 2(d) of the Registration
Rights Agreement.

     “Additional Notes” has the meaning specified in Section 2.18.

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

     “Affiliate” means, when used with reference to the Company or another Person, any Person
directly or indirectly controlling, controlled by, or under direct or indirect common control with,
the Company or such other Person, as the case may be. For the purposes of this definition,
“control” when used with respect to any specified Person means the power to direct or cause the
direction of management or policies of such Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative of the foregoing.

     “Agent” means any Registrar, Paying Agent, authenticating agent or co-Registrar.

     “Attributable Value” means, in connection with a sale and lease-back transaction, the lesser
of (i) the fair market value of the assets subject to such transaction and (ii) the present value
(discounted at a rate per annum equal to the rate of interest implicit in the lease involved in
such sale and lease-back transaction, as determined in good faith by the Company) of the
obligations of the lessee for rental payments during the term of the related lease.

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

     “Board of Directors” means, with respect to any Person, the Board of Directors of such Person
or any duly authorized committee of such Board of Directors.

     “Board Resolution” means a copy of a resolution certified by the secretary or an assistant
secretary of such Person to have been duly adopted by the Board of Directors of such Person or any
duly authorized committee thereof and to be in full force and effect on the date of such
certification, and delivered to the Trustee.

     “Business Day” means a day that is not a Legal Holiday.

     “Change of Control” means the occurrence of any of the following events:

     (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Exchange Act or any successor provisions to either of the foregoing), including any group acting
for the purpose of acquiring, holding, voting or disposing of securities within the meaning of Rule
13d-5(b)(1) under the Exchange Act, other than one or more Permitted Holders, becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act, except that a person

3

 

will be deemed to have “beneficial ownership” of all shares that any such person has the right
to acquire, whether such right is exercisable immediately or only after the passage of time),
directly or indirectly, of 50% or more of the total voting power of the voting stock of the Company
(for purposes of this clause, such person or group shall be deemed to beneficially own any voting
stock of a corporation held by any other corporation (the “parent corporation”) so long as such
person or group beneficially owns, directly or indirectly, in the aggregate at least a majority of
the total voting power of the voting stock of such parent corporation); or

     (b) the sale, transfer, assignment, lease, conveyance or other disposition, directly or
indirectly, of all or substantially all the property of the Company and its Restricted
Subsidiaries, considered as a whole (other than a disposition of such property as an entirety or
virtually as an entirety to a wholly owned Restricted Subsidiary or one or more Permitted Holders),
shall have occurred, or the Company merges, consolidates or amalgamates with or into any other
Person (other than one or more Permitted Holders) or any other Person (other than one or more
Permitted Holders) merges, consolidates or amalgamates with or into the Company, in any such event
pursuant to a transaction in which the outstanding voting stock of the Company is reclassified into
or exchanged for cash, securities or other property, other than any such transaction where:

     (1) the outstanding voting stock of the Company is reclassified into or exchanged for other
voting stock of the Company or for voting stock of the surviving person, and

     (2) the holders of the voting stock of the Company immediately prior to such transaction own,
directly or indirectly, not less than a majority of the voting stock of the Company or the
surviving person immediately after such transaction and in substantially the same proportion as
before the transaction; or

     (c) during any period of two consecutive years, individuals who at the beginning of such
period constituted the Board of Directors (together with any new directors whose election or
appointment by such Board or whose nomination for election by the shareholders of the Company was
approved by a vote of not less than three-fourths of the directors then still in office who were
either directors at the beginning of such period or whose election or nomination for election was
previously so approved) cease for any reason to constitute at least a majority of the Board of
Directors then in office; or

     (d) the shareholders of the Company shall have approved any plan of liquidation or dissolution
of the Company.

     “Change of Control Offer” has the meaning specified in Section 4.09.

     “Change of Control Payment Date” has the meaning specified in Section 4.09.

     “Change of Control Purchase Price” has the meaning specified in Section 4.09.

     “Clearstream” means Clearstream Banking, S.A.

4

 

     “Company” means the party named as the Company in the first paragraph of this Indenture until
one or more successor corporations shall have become such pursuant to the applicable provisions of
this Indenture, and thereafter means such successors.

     “Comparable Treasury Issue” has the meaning specified in Section 3.07.

     “Comparable Treasury Price” has the meaning specified in Section 3.07.

     “Consolidated” or “consolidated” means, when used with reference to any amount, such amount
determined on a consolidated basis in accordance with GAAP, after the elimination of intercompany
items.

     “Consolidated Assets” means at a particular date, all amounts which would be included under
total assets on a consolidated balance sheet of the Company and its Restricted Subsidiaries as at
such date, determined in accordance with GAAP.

     “Corporate Trust Office” means the office of the Trustee at which at any particular time its
corporate services business shall be principally administered, which office at the date of
execution of this Indenture is located at 2 North LaSalle Street, Suite 1020, Chicago, IL 60602.

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

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

     “Depositary” means The Depository Trust Company, its nominees and their respective successors.

     “DTC Participants” has the meaning specified in Section 2.08.

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, or any
successor statute.

     “Euroclear” means Euroclear Bank, S.A./N.V.

     “Event of Default” has the meaning specified in Section 6.01.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor
statute.

     “Exchange Notes” has the meaning stated in the first recital of this Indenture and refers to
any Exchange Notes containing terms substantially identical to the applicable Initial Notes (except
that (i) such Exchange Notes shall not contain terms with respect to transfer restrictions and
shall be registered under the Securities Act and (ii) certain provisions relating to an increase in
the stated rate of interest thereon shall be eliminated) that are issued and exchanged for the
applicable Initial Notes in accordance with the Exchange Offer or following a sale pursuant to

5

 

the Shelf Registration Statement to anyone other than an Affiliate of the Company, as provided
for in the Registration Rights Agreement.

     “Exchange Offer” means, subject to the terms of the Registration Rights Agreement, the offer
by the Company to the Holders of the opportunity to exchange their Initial Notes for Exchange Notes
pursuant to a registration statement declared effective by the SEC.

     “Existing Senior Notes” means the 2008 Notes, the 2009 Notes and the 2014 Notes.

     “Financing Lease” means (i) any lease of property, real or personal, the obligations under
which are capitalized on a consolidated balance sheet of the Company and its Restricted
Subsidiaries and (ii) any other such lease to the extent that the then present value of the minimum
rental commitment thereunder should, in accordance with GAAP, be capitalized on a balance sheet of
the lessee.

     “GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial Accounting Standards Board or in
such other statements by such other entity as have been approved by a significant segment of the
accounting profession, which are applicable from time to time.

     “Global Notes” means the global Notes in the form of Exhibit A-1 or Exhibit A-2 as applicable
issued in accordance with Article II hereof.

     “Global Note Legend” means the legend set forth in Section 2.02(b), which is required to be
placed on all Global Notes issued under this Indenture.

     “Guarantee” means the guarantee of the Notes by each Guarantor under Article X hereof.

     “Guarantor” means (i) each of the Subsidiaries of the Company which have executed this
Indenture as a Guarantor as of the date hereof, and (ii) each of the Company’s Subsidiaries,
whether formed, created or acquired before or after the date hereof, which become a guarantor of
Notes pursuant to the provisions of this Indenture.

     “Holder” means the Person in whose name a Note is registered on the Registrar’s books.

     “Indebtedness” of a Person means all obligations which would be treated as liabilities upon a
balance sheet of such Person prepared on a consolidated basis in accordance with GAAP.

     “Indenture” means this Indenture, as amended, supplemented or modified from time to time.

     “Independent Investment Banker” has the meaning specified in Section 3.07.

     “Initial Notes” has the meaning specified in the first recital of this Indenture.

     “Institutional Accredited Investor” means an institution that is an “accredited investor” as
that term is defined in Rule 501(a)(1), (2) or (7) under the Securities Act.

6

 

     “Interest Payment Date” means each of June 1 and December 1, beginning on June 1, 2007.

     “Investment” by any Person means:

     (i) All investments by such Person in any other Person in the form of loans, advances
or capital contributions;

     (ii) all guarantees of Indebtedness or other obligations of any other Person by such
Person;

     (iii) all purchases (or other acquisitions for consideration) by such Person of
Indebtedness, capital stock or other securities of any other Person;

     (iv) all other items that would be classified as investments (including, without
limitation, purchases outside the ordinary course of business) on a balance sheet of such
Person prepared in accordance with GAAP.

     “Issue Date” means the date of original issuance of the Initial Notes.

     “Legal Holiday” has the meaning specified in Section 11.07.

     “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or other), or preference, priority or other security agreement or
preferential arrangement of any kind or nature whatsoever (including, without limitation, any
conditional sale or other title retention agreement or any Financing Lease having substantially the
same economic effect as any of the foregoing).

     “Non-U.S. Persons” means a person who is not a “U.S. person” (as defined in Regulation S under
the Securities Act).

     “Notes” means the Notes issued under this Indenture. The Initial Notes and the Additional
Notes shall be treated as a single class for purposes of certain matters specified in this
Indenture. However, the 2013 Notes and the 2016 Notes and any Additional Notes of each such series
shall be treated as separate series of Notes under this Indenture and will be treated as separate
classes of Notes for certain matters specified in this Indenture.

     “Obligations” means all obligations for principal, premium, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities payable under the documentation
governing any Indebtedness.

     “Officer” of any Person means the Chairman of the Board, Vice Chairman, the Chief Executive
Officer, the President, any Senior Vice President, any Executive Vice President, any Vice
President, the Treasurer, the Secretary or the Controller of such Person.

     “Officers’ Certificate” means a certificate signed by two Officers or by an Officer and an
Assistant Treasurer, Assistant Secretary or Assistant Controller of any Person.

7

 

     “Opinion of Counsel” means a written opinion from legal counsel. The counsel may be an
employee of or counsel to the Company.

     “Paying Agent” has the meaning specified in Section 2.04.

     “Permitted Holders” means Carl C. Icahn, and any affiliates of Carl C. Icahn, including funds
managed by him that are acting in concert with him.

     “Permitted Liens” means:

     (i) Liens for taxes not yet due or which are being contested in good faith by
appropriate proceedings;

     (ii) statutory Liens of landlords, carriers, warehousemen, mechanics, materialmen,
repairmen, suppliers or other like Liens arising in the ordinary course of business;

     (iii) pledges or deposits in connection with workers’ compensation, unemployment
insurance and other social security legislation, including any Lien securing letters of
credit issued in the ordinary course of business in connection therewith and deposits
securing liabilities to insurance carriers under insurance and self-insurance programs;

     (iv) Liens (other than any Lien imposed by ERISA) incurred on deposits to secure the
performance of bids, trade contracts (other than for borrowed money), leases, statutory
obligations, surety and appeal bonds, performance bonds, letters of credit for customs
purposes, workers’ compensation, unemployment insurance, utility payments and other
obligations of a like nature incurred in the ordinary course of business;

     (v) easements, rights-of-way, restrictions and other similar encumbrances incurred
which, in the aggregate, do not materially interfere with the ordinary conduct of the
business of the Company and its Restricted Subsidiaries taken as a whole;

     (vi) attachment, judgment or other similar Liens arising in connection with court or
arbitration proceedings, provided that the same are discharged, or that execution or
enforcement thereof is stayed pending appeal, within 60 days or, in the case of any stay of
execution or enforcement pending appeal, within such lesser time during which such appeal
may be taken;

     (vii) Liens securing obligations (other than obligations representing Indebtedness for
borrowed money) under operating, reciprocal easement or similar agreements entered into in
the ordinary course of business;

     (viii) statutory Liens and rights of offset arising in the ordinary course of business
of the Company and its Restricted Subsidiaries;

8

 

     (ix) Liens in connection with leases or subleases granted to others and the interest or
title of a lessor or sublessor (other than the Company or any of its Subsidiaries) under any
lease;

     (x) Liens securing Indebtedness in respect of interest rate agreement obligations or
currency agreement obligations or commodity hedging agreements entered into to protect
against fluctuations in interest rates or exchange rates or commodity prices and not for
speculative reasons; and

     (xi) Liens existing on the date hereof.

     “Person” means an individual, partnership, corporation, business trust, joint stock company,
trust, unincorporated association, joint venture, governmental authority or other entity of
whatever nature.

     “Physical Notes” has the meaning specified in Section 2.01.

     “Primary Treasury Dealer” has the meaning specified in Section 3.07.

     “Qualified Institutional Buyer” has the meaning set forth in Rule 144A.

     “Receivable Financing Transaction” means any transaction or series of transactions involving a
sale for cash of accounts receivable, without recourse based upon the collectibility of the
receivables sold, by the Company or any of its Restricted Subsidiaries to a Special Purpose
Subsidiary and a subsequent sale or pledge of such accounts receivable (or an interest therein) by
such Special Purpose Subsidiary, in each case without any guarantee by the Company or any of its
Restricted Subsidiaries (other than the Special Purpose Subsidiary).

     “Redemption Date” means, with respect to any Notes to be redeemed, the date fixed for such
redemption pursuant to this Indenture.

     “Redemption Price” means the redemption price fixed in accordance with the terms of the Notes,
plus accrued and unpaid interest, if any, to the date fixed for redemption.

     “Reference Treasury Dealer” has the meaning specified in Section 3.07.

     “Reference Treasury Dealer Quotations” has the meaning specified in Section 3.07.

     “Register” has the meaning specified in Section 2.04.

     “Registration Rights Agreement” means the Registration Rights Agreement, dated November 24,
2006, among the Company, the Guarantors and Citigroup Global Markets Inc.

     “Regulation S Global Notes” has the meaning specified in Section 2.01.

     “Regulation S Global Note” means a Global Note in the form of Exhibit A-1 or Exhibit A-2
hereto bearing the Global Note Legend and the Transfer Restricted Securities Legend and deposited
with and registered in the name of the Depositary or its nominee that will be issued in

9

 

a denomination equal to the outstanding principal amount of the 2013 Notes or 2016 Notes, as
applicable, sold for initial resale in reliance on Rule 903 of Regulation S.

     “Regulation S Permanent Global Notes” has the meaning specified in Section 2.01.

     “Regulation S Physical Notes” has the meaning specified in Section 2.01.

     “Responsible Officer” shall mean, when used with respect to the Trustee, any officer within
the corporate trust department of the Trustee, including any vice president, assistant vice
president, assistant secretary, assistant treasurer, trust officer or any other officer of the
Trustee who customarily performs functions similar to those performed by the Persons who at the
time shall be such officers, respectively, or to whom any corporate trust matter is referred
because of such person’s knowledge of and familiarity with the particular subject and who shall
have direct responsibility for the administration of this Indenture.

     “Restricted Period” has the meaning specified in Section 2.01.

     “Restricted Subsidiary” means any Subsidiary other than an Unrestricted Subsidiary.

     “SEC” means the Securities and Exchange Commission and any government agency succeeding to its
functions.

     “Securities Act” means the Securities Act of 1933, as amended, or any successor statute.

     “Senior Credit Facilities” means the Amended and Restated Credit and Guarantee Agreement dated
as of April 25, 2006 by and among the Company, Lear Canada, each Foreign Subsidiary Borrower (as
defined therein), the lenders party thereto in their capacities as lenders thereunder and the
agents party thereto in their capacities as such, together with the related documents thereto
(including, without limitation, any guarantee agreements and security documents), in each case as
such agreements may be amended (including any amendment and restatement thereof), supplemented or
otherwise modified from time to time, including one or more credit agreements, loan agreements,
indentures or similar agreements extending the maturity of, refinancing, replacing or otherwise
restructuring (including increasing the amount of available borrowings thereunder or adding
Restricted Subsidiaries of the Company as additional borrowers or guarantors thereunder) all or any
portion of the indebtedness under such agreement or agreements or any successor or replacement
agreement or agreements and whether by the same or any other agent, lender or group of lenders.

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

     “Significant Subsidiary” means any Subsidiary that would constitute a “significant subsidiary”
within the meaning of Article 1 of Regulation S-X of the Securities Act as in effect on the date of
this Indenture.

     “Special Purpose Subsidiary” means any wholly owned Restricted Subsidiary of the Company
created by the Company for the sole purpose of facilitating a Receivable Financing Transaction. In
the event the laws of a jurisdiction in which the Company proposes to create a

10

 

Special Purpose Subsidiary do not provide for the creation of an entity that is
bankruptcy-remote in a manner that is acceptable to the Company or requires the formation of one or
more additional entities (whether or not subsidiaries of the Company) such other type of entity or
entities may serve as a Special Purpose Subsidiary.

     “Subsidiary” of any Person means:

     (i) a corporation a majority of whose capital stock with voting power, under ordinary
circumstances, to elect directors is at the time, directly or indirectly, owned by such
Person or by such Person and a subsidiary or subsidiaries of such Person or by a subsidiary
or subsidiaries of such Person; or

     (ii) any other Person (other than a corporation) in which such Person or such Person
and a subsidiary or subsidiaries of such Person or a subsidiary or subsidiaries of such
Persons, at the time, directly or indirectly, owns at least a majority voting interest under
ordinary circumstances.

     “TIA” means the Trust Indenture Act of 1939 (15 U.S. Code Section 77aaa-77bbbb), as in effect
on the date of this Indenture; provided, however, that in the event the TIA is amended after such
date, “TIA” means, to the extent required by such amendment, the Trust Indenture Act of 1939, as so
amended, or any successor statute.

     “Transfer Restricted Securities” means securities that bear or are required to bear the legend
set forth in Section 2.02(a)(i).

     “Transfer Restricted Securities Legend” means the legend initially set forth on the Notes in
the form set forth in Section 2.02(a)(i).

     “Treasury Rate” has the meaning specified in Section 3.07.

     “Trustee” means the party named as such in this Indenture until a successor replaces it and
thereafter, means the successor.

     “Unrestricted Subsidiary” means any Subsidiary designated as such by the Board of Directors of
the Company; provided, however, that at the time of any such designation by the Board of Directors,
such Subsidiary does not constitute a Significant Subsidiary; and provided, further, that at the
time that any Unrestricted Subsidiary becomes a Significant Subsidiary it shall cease to be an
Unrestricted Subsidiary.

     “U.S. Government Obligations” means (i) direct obligations of the United States of America for
the payment of which the full faith and credit of the United States of America is pledged or (ii)
obligations of a 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 and which in either case, are non-callable at
the option of the issuer thereof.

     “U.S. Physical Notes” has the meaning specified in Section 2.01.

11

 

     SECTION 1.02. Incorporation by Reference of Trust Indenture Act.

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

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

     “indenture securities” means the Notes;

     “indenture security holder” means a Holder;

     “indenture to be qualified” means this Indenture;

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

     “obligor” on the Notes means the Company and any other obligor on the indenture securities.

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

     SECTION 1.03. Rules of Construction.

     Unless the context otherwise requires:

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

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

     (iii) “or” is not exclusive;

     (iv) “including” means including without limitation;

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

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

     (vii) statements relating to the payment of principal and interest shall include the
payment of premium and Additional Interest (if any).

12

 

ARTICLE II

THE NOTES

     SECTION 2.01. Form and Dating.

     The Notes and the Trustee’s certificate of authentication shall be substantially in the form
annexed hereto as Exhibit A-1 or Exhibit A-2 with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture. The Notes may
have notations, legends or endorsements required by law or stock exchange agreements to which the
Company is subject. Each Note shall be dated the date of its authentication. The Notes shall be
in minimum denominations of $1,000 and integral multiples thereof. The terms and provisions
contained in the form of each Note annexed hereto as Exhibit A-1 or Exhibit A-2, as applicable,
shall constitute, and are hereby expressly made, a part of this Indenture. To the extent
applicable, the Company and the Trustee, by their execution and delivery of this Indenture,
expressly agree to such terms and provisions and to be bound thereby. However, to the extent any
provision of any Note conflicts with the provisions of this Indenture, the provisions of this
Indenture shall govern and be controlling.

     Notes shall be issued initially in global form and shall be substantially in the form of
Exhibit A-1 or Exhibit A-2, as applicable, attached hereto (including the Transfer Restricted
Securities Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached
thereto). Notes issued in definitive form shall be substantially in the form of Exhibit A-1 or
Exhibit A-2, as applicable, attached hereto (but without the Transfer Restricted Securities Legend
thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto).
Each Global Note shall represent such aggregate principal amount of the outstanding 2013 Notes or
2016 Notes, as applicable, as shall be specified therein and each shall provide that it shall
represent the aggregate principal amount of outstanding 2013 Notes or 2016 Notes, as applicable,
from time to time endorsed thereon and that the aggregate principal amount of outstanding 2013
Notes or 2016 Notes, as applicable, represented thereby may from time to time be reduced or
increased, as appropriate, to reflect exchanges and redemptions and transfers of interests therein.
Any endorsement of a Global Note to reflect the amount of any increase or decrease in the
aggregate principal amount of outstanding 2013 Notes or 2016 Notes, as applicable, represented
thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in
accordance with instructions given by the Holder thereof as required by Section 2.06 hereof.

     The 144A Global Notes and the Regulation S Global Notes are sometimes referred to herein as
the “Global Notes.”

     Notes transferred to Institutional Accredited Investors and Notes issued in exchange for
interests in the 144A Global Notes pursuant to Section 2.09(e) shall be issued in the form of
permanent certificated Notes (the “U.S. Physical Notes”) in registered form. Notes issued in
exchange for interests in the Regulation S Global Notes pursuant to Section 2.09(e) shall be in the
form of permanent certificated Notes (the “Regulation S Physical Notes”, and together with the U.S.
Physical Notes, the “Physical Notes”) in registered form. The Physical Notes shall be

13

 

substantially in the form set forth in Exhibit A-1 or Exhibit A-2 attached hereto (including
the text and schedule called for by footnote 5 thereto).

     Global Notes or Physical Notes issued as Exchange Notes shall not bear the Transfer Restricted
Securities Legend, and shall bear the reference to “Series B” called for by footnotes 3 and 4 of
Exhibit A-1 or Exhibit A-2 attached hereto.

     The definitive Notes shall be typed, printed, lithographed or engraved or produced by any
combination of these methods or may be produced in any other manner permitted by the rules of any
securities exchange on which the Notes may be listed, all as determined by the Officers executing
such Notes, as evidenced by their execution of such Notes.

     SECTION 2.02. Restrictive Legends.

     (a) Transfer Restricted Securities Legend.

     (i) Except as permitted by the clauses (ii), (iii) and (iv) of this Section 2.02(a),
each Note certificate evidencing Global Notes and Physical Notes (and all Notes issued in
exchange therefor and substitution thereof) shall bear the following Transfer Restricted
Securities Legend:

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY
INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION.

THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER
SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) WHICH IS TWO YEARS
AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY
AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY
(A) TO THE COMPANY OR ANY OF ITS SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS
BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE
FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN
ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE
TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S.
PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE
SECURITIES ACT, (E) TO AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR
(7) UNDER THE SECURITIES ACT THAT IS AN

14

 

INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF
SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE
SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN
CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F) PURSUANT TO ANY OTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE
COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES
(D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER
INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE
HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

     (ii) Upon any sale or transfer of a Transfer Restricted Security in compliance with
Rule 144 under the Securities Act or pursuant to an effective registration statement under
the Securities Act, the Registrar shall permit the Holder thereof to exchange such Transfer
Restricted Security for a Note that does not bear the Transfer Restricted Securities Legend,
and shall rescind any restriction on the transfer of such Transfer Restricted Security.

     (iii) Notwithstanding the foregoing, upon consummation of the Exchange Offer, the
Company shall issue, and upon receipt of an authentication order in accordance with Section
2.03 hereof, the Trustee shall authenticate the Exchange Notes in exchange for the Initial
Notes, as applicable, accepted for exchange in the Exchange Offer, and the Registrar shall
rescind any restriction on the transfer of such security. Exchange Notes shall also be
issued in exchange for the Initial Notes, as applicable, following any sale of Initial Notes
pursuant to any Shelf Registration Statement to anyone other than an Affiliate of the
Company upon certification by the seller of such Initial Notes that such sale was made
pursuant to the registration requirements of the Securities Act.

     (b) Global Note Legend. Each Global Note, whether or not an Exchange Note, shall also bear
the following legend on the face thereof:

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (“DTC”) TO LEAR CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

15

 

     SECTION 2.03. Execution and Authentication.

     Two Officers shall sign the Notes for the Company by manual or facsimile signature. If an
Officer whose signature is on a Note no longer holds that office at the time the Note is
authenticated, the Note shall be valid nevertheless.

     A Note shall not be valid until authenticated by the manual signature of the Trustee. The
signature shall be conclusive evidence that the Note has been authenticated under this Indenture.

     The Trustee shall, upon a written order of the Company signed by one Officer of the Company,
authenticate for original issue Notes in aggregate principal amount specified in such order. The
Trustee shall, upon a written order of the Company signed by one Officer of the Company,
authenticate for original issue upon completion of the Exchange Offer (and thereafter as
appropriate) Exchange Notes in aggregate principal amount specified in such order. The aggregate
principal amount of Notes and Exchange Notes outstanding at any time shall not exceed $300,000,000
with respect to the 2013 Notes and $600,000,000 with respect to the 2016 Notes, except in each case
as provided in Section 2.10 and Section 2.18.

     The Trustee may appoint an authenticating agent reasonably acceptable to the Company to
authenticate Notes. Unless limited by the terms of such appointment, an authenticating agent may
authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent. An authenticating agent has
the same rights as an Agent to deal with the Company or an Affiliate of the Company.

     SECTION 2.04. Registrar and Paying Agent.

     The Company shall maintain an office or agency where Notes may be presented for registration
of transfer or for exchange (the “Registrar”) and an office or agency where Notes may be presented
for payment (the “Paying Agent”). The Registrar shall keep a register of the Notes (the
“Register”) and of their transfer and exchange. The Company may appoint one or more co-Registrars
and one or more additional Paying Agents for the Notes. The term “Paying Agent” includes any
additional paying agent and the term “Registrar” includes any additional registrar. The Company
may change any Paying Agent or Registrar without prior notice to any Holder.

     The Company shall enter into an appropriate agency agreement with any Agent not a party to
this Indenture, which shall incorporate the terms of the TIA and implement the terms of this
Indenture that relate to such Agent. The Company shall give prompt written notice to the Trustee
of the name and address of any Agent who is not a party to this Indenture. If the Company fails to
appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such.
The Company or any Affiliate of the Company may act as Paying Agent or Registrar; provided,
however, that none of the Company, its Subsidiaries or the Affiliates of the foregoing shall act
(i) as Paying Agent in connection with redemptions, offers to purchase, discharges and defeasance,
as otherwise specified in this Indenture, and (ii) as Paying Agent or Registrar if a Default or
Event of Default has occurred and is continuing.

16

 

     The Company initially appoints The Depository Trust Company to act as Depositary with respect
to the Global Notes.

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

     SECTION 2.05. Paying Agent to Hold Assets in Trust.

     Not later than 11:00 a.m. (New York City time) on each due date of the principal and interest
on any Notes, the Company shall deposit with one or more Paying Agents money in immediately
available funds sufficient to pay such principal and interest so becoming due. The Company shall
require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall
hold in trust for the benefit of Holders or the Trustee all assets held by the Paying Agent for the
payment of principal of and interest on the Notes (whether such money has been paid to it by the
Company or any other obligor on the Notes, including any Guarantor) and shall notify the Trustee of
any failure by the Company (or any other obligor on the Notes, including any Guarantor) in making
any such payment. While any such failure continues, the Trustee may require a Paying Agent to pay
all money held by it to the Trustee and to account for any funds disbursed. The Company at any
time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to
the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have
no further liability for the money so paid over to the Trustee.

     If the Company or any Subsidiary of the Company or any Affiliate of any of them acts as Paying
Agent, it shall, prior to or on each due date of any principal of or interest on the Notes,
segregate and hold in a separate trust fund for the benefit of the Holders a sum of money
sufficient with monies held by all other Paying Agents, to pay such principal or interest so
becoming due until such sum of money shall be paid to such Holders or otherwise disposed of as
provided in this Indenture, and will promptly notify the Trustee of its actions or failure to act.

     SECTION 2.06. Holder Lists.

     The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of Holders and shall otherwise comply with Section
312(a) of the TIA. If the Trustee is not the Registrar, the Company shall furnish to the Trustee
prior to or on each Interest Payment Date for the Notes and at such other times as the Trustee may
request in writing, a list in such form and as of such date as the Trustee may reasonably require
of the names and addresses of Holders relating to such Interest Payment Date or request, as the
case may be.

     SECTION 2.07. General Provisions Relating to Transfer and Exchange.

     The Notes are issuable only in registered form. A Holder may transfer a Note only by written
application to the Registrar or another transfer agent stating the name of the proposed transferee
and otherwise complying with the terms of this Indenture. No such transfer shall be effected
until, and such transferee shall succeed to the rights of a Holder only upon, final acceptance and
registration of the transfer by the Registrar in the Register. Prior to the registration of any
transfer by a Holder as provided herein, the Company, the Trustee, and any

17

 

agent of the Company shall treat the person in whose name the Note is registered as the owner
thereof for all purposes whether or not the Note shall be overdue, and neither the Company, the
Trustee, nor any such agent shall be affected by notice to the contrary. Furthermore, any Holder
of a Global Note shall, by acceptance of such Global Note, agree that transfers of beneficial
interests in such Global Note may be effected only through a book-entry system maintained by the
Holder of such Global Note (or its agent) and that ownership of a beneficial interest in the Note
shall be required to be reflected in a book-entry. Notwithstanding the foregoing, in the case of a
Transfer Restricted Security, a beneficial interest in a Global Note being transferred in reliance
on an exemption from the registration requirements of the Securities Act other than in accordance
with Rule 144, Rule 144A and Regulation S may only be transferred for a Physical Note.

     When Notes are presented to the Registrar or another transfer agent with a request to register
the transfer or to exchange them for an equal principal amount of Notes of other authorized
denominations (including an exchange of Notes for Exchange Notes), the Registrar shall register the
transfer or make the exchange as requested if its requirements for such transactions are met
(including that such Notes are duly endorsed or accompanied by a written instrument of transfer
duly executed by the Holder thereof or by an attorney who is authorized in writing to act on behalf
of the Holder); provided that no exchanges of Notes for Exchange Notes shall occur until an
exchange offer registration statement or Shelf Registration Statement, as the case may be, shall
have been declared effective by the SEC and that any Initial Notes that are exchanged for Exchange
Notes shall be cancelled by the Trustee. Subject to Section 2.03, to permit registrations of
transfers and exchanges, the Company shall execute and the Trustee shall authenticate Notes at the
Registrar’s request. No service charge shall be made for any registration of transfer or exchange
or redemption of the Notes, but the Company may require payment of a sum sufficient to cover any
transfer tax or similar governmental charge payable in connection therewith (other than any such
transfer taxes or other similar governmental charge payable upon exchanges pursuant to Section
2.13, 3.06 or 9.05 hereof).

     Neither the Registrar nor any other transfer agent nor the Company shall be required to:

     (i) issue, register the transfer of or exchange any Note during a period beginning at
the opening of business 15 Business Days before the day of any selection of Notes for
redemption under Section 3.02 hereof and ending at the close of business on the day of
selection; or

     (ii) register the transfer of or exchange any Note so selected for redemption in whole
or in part, except the unredeemed portion of any Note being redeemed in part.

     Each Holder of a Note agrees to indemnify the Company and the Trustee against any liability
that may result from the transfer, exchange or assignment of such Holder’s Note in violation of any
provision of this Indenture and/or applicable United States Federal or state securities law.

     The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance
with any restrictions on transfer imposed under this Indenture or under applicable law with respect
to any transfer of any interest in any Note (including any transfers between or

18

 

among DTC Participants or beneficial owners of interests in any Global Note) other than to
require delivery of such certificates and other documentation or evidence as are expressly required
by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the
same to determine substantial compliance as to form with the express requirements hereof.

     SECTION 2.08. Book-Entry Provisions for Global Notes.

     (a) The 144A Global Notes and Regulation S Global Notes initially shall:

     (i) be registered in the name of the Depositary or the nominee of such Depositary;

     (ii) be delivered to the Trustee as custodian for such Depositary; and

     (iii) bear legends as set forth in Section 2.02 hereof.

     Members of, or participants in, the Depositary (“DTC Participants”) shall have no rights under
this Indenture with respect to any Global Note held on their behalf by the Depositary, or the
Trustee as its custodian, or under such Global Note, and the Depositary may be treated by the
Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of such
Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing contained herein
shall prevent the Company, the Trustee or any agent of the Company or the Trustee, from giving
effect to any written certification, proxy or other authorization furnished by the Depositary or
impair, as between the Depositary and the DTC Participants, the operation of customary practices
governing the exercise of the rights of a Holder of any Note.

     (b) Transfers of a Global Note shall be limited to transfers of such Global Note in whole, but
not in part, to the Depositary, its successors or their respective nominees. Beneficial owners may
transfer their interests in Global Notes in accordance with the rules and procedures of the
Depositary and the provisions of Section 2.09 hereof.

     (c) Any beneficial interest in one of the Global Notes that is transferred to a person who
takes delivery in the form of an interest in another Global Note will, upon transfer, cease to be
an interest in such Global Note and become an interest in such other Global Note and, accordingly,
will thereafter be subject to all transfer restrictions, if any, and other procedures applicable to
beneficial interests in such other Global Note for as long as it remains such an interest.

     (d) The registered Holder of a Global Note may grant proxies and otherwise authorize any
Person, including DTC Participants and Persons that may hold interests through DTC Participants, to
take any action that a Holder is entitled to take under this Indenture or the Notes.

     (e) If at any time:

     (i) the Company notifies the Trustee in writing that the Depositary is no longer
willing or able to continue to act as Depositary for the Global Notes or the Depositary
ceases to be a “clearing agency” registered under the Exchange Act, and a

19

 

successor depositary for the Global Notes is not appointed by the Company within 90
days of such notice or cessation;

     (ii) the Company, at its option, notifies the Trustee in writing that it elects to
cause the issuance of the Notes in definitive form under this Indenture in exchange for all
or any part of the Notes represented by a Global Note or Global Notes; or

     (iii) an Event of Default has occurred and is continuing and the Registrar has received
a request from the Depositary,

subject to this Section 2.08(e), the Depositary shall surrender such Global Note or Global Notes to
the Trustee for cancellation and then the Company shall execute, and the Trustee shall authenticate
and deliver in exchange for such Global Note or Global Notes, U.S. Physical Notes and Regulation S
Physical Notes, as applicable, in an aggregate principal amount equal to the principal amount of
such Global Note or Global Notes. Such Physical Notes shall be registered in such names as the
Depositary shall identify in writing as the beneficial owners, or participant nominees, of the
Notes represented by such Global Note or Notes (or any nominee thereof).

     (f) Notwithstanding the foregoing, in connection with any transfer of a portion of the
beneficial interests in a Global Note to beneficial owners pursuant to paragraph (e) of this
Section 2.08, the Registrar shall reflect on its books and records the date and a decrease in the
principal amount of such Global Note in an amount equal to the principal amount of the beneficial
interest in such Global Note to be transferred, and the Company shall execute, and the Trustee
shall authenticate and deliver, one or more U.S. Physical Notes or Regulation S Physical Notes, as
the case may be, of like tenor and amount.

     SECTION 2.09. Special Transfer Provisions.

     Unless and until any Initial Note (1) is exchanged for an Exchange Note, (2) transferred after
the time period referred to in Rule 144(k) under the Securities Act or (3) otherwise sold in
connection with an effective registration statement pursuant to the Registration Rights Agreement,
the following provisions shall apply:

     (a) Transfers to Institutional Accredited Investors that are not Qualified Institutional
Buyers.

     The following provisions shall apply with respect to the registration of any proposed transfer
of a Note to any Institutional Accredited Investor that is not a Qualified Institutional Buyer
(excluding Non-U.S. Persons):

     (i) The Registrar shall register the transfer if the proposed transferee has delivered
to the Trustee (A) a certificate substantially in the form of Exhibit B attached
hereto and (B) if the aggregate principal amount of the Notes being transferred is less than
$250,000, an opinion of counsel acceptable to the Company that such transfer is in
compliance with the Securities Act.

     (ii) If Note to be transferred consists of a Physical Note, upon receipt by the
Registrar of the documents referred to in the preceding sentence, and the Company shall

20

 

execute and the Trustee shall authenticate and deliver, a new U.S. Physical Note
registered in the name of the transferee and the Trustee shall cancel the Physical Note
presented for transfer.

     (iii) If the proposed transferor is a DTC Participant holding a beneficial interest in
the Rule 144A Global Notes, upon receipt by the Registrar of the documents required by
subclause (a)(i) above and instructions given in accordance with the procedures of the
Depositary and of the Registrar, the Registrar shall reflect on its books and records the
date and a decrease in the principal amount of the 144A Global Notes in an amount equal to
the principal amount of the beneficial interest in the 144A Global Notes to be transferred,
and the Company shall execute, and the Trustee shall authenticate and deliver, one or more
U.S. Physical Notes of like tenor and amount.

     (b) Transfers to Qualified Institutional Buyers.

     The following provisions shall apply with respect to the registration of any proposed transfer
of a Note to a Qualified Institutional Buyer (excluding Non-U.S. Persons):

     (i) If the Note to be transferred consists of (x) either Regulation S Physical Notes
prior to the removal of the Transfer Restricted Securities Legend or U.S. Physical Notes,
the Registrar shall register the transfer if such transfer is being made by a proposed
transferor who has checked the box provided for on the form of Note stating or has otherwise
advised the Company and the Registrar in writing that the sale has been made in compliance
with the provisions of Rule 144A to a transferee who has signed the certification provided
for on the form of Note stating or has otherwise advised the Company and the Registrar in
writing that:

     (a) it is purchasing the Note for its own account or an account with respect to
which it exercises sole investment discretion, in each case for investment and not
with a view to distribution;

     (b) it and any such account is a Qualified Institutional Buyer within the
meaning of Rule 144A;

     (c) it is aware that the sale to it is being made in reliance on Rule 144A;

     (d) it acknowledges that it has received such information regarding the Company
as it has requested pursuant to Rule 144A or has determined not to request such
information; and

     (e) it is aware that the transferor is relying upon its foregoing
representations in order to claim the exemption from
registration provided by Rule 144A; or

or (y) an interest in the 144A Global Notes, the transfer of such interest may be effected
only through the book entry system maintained by the Depositary.

21

 

     (ii) If the proposed transferee is a DTC Participant, and the Note to be transferred
consists of U.S. Physical Notes, upon receipt by the Registrar of the documents referred to
in clause (i) above and instructions given in accordance with the procedures of the
Depositary and the Registrar, the Registrar shall reflect on its books and records the date
and an increase in the principal amount of 144A Global Notes in an amount equal to the
principal amount of the U.S. Physical Notes to be transferred, and the Trustee shall cancel
the U.S. Physical Notes so transferred.

     (c) Transfers to Non-U.S. Persons of U.S. Physical Notes and Interests in 144A Global Notes.

     (i) The Registrar shall register any proposed transfer to a Non-U.S. Person of a U.S.
Physical Note or an interest in 144A Global Notes only upon receipt of a certificate from
the proposed transferor substantially in the form of Exhibit C attached hereto.

     (ii) (a) If the proposed transferor is a DTC Participant holding a beneficial interest
in the 144A Global Notes, upon receipt by the Registrar of the documents, if any, required
by paragraph (i) above and instructions in accordance with the procedures of the Depositary
and of the Registrar, the Registrar shall reflect on its books and records the date and a
decrease in the principal amount of the 144A Global Notes in an amount equal to the
principal amount of the beneficial interest in the 144A Global Notes to be transferred, (b)
if the proposed transferor is a holder of U.S. Physical Notes, the Trustee shall cancel the
U.S. Physical Notes so transferred, and (c) if the proposed transferee is a DTC Participant,
upon receipt by the Registrar of instructions given in accordance with the procedures of the
Depositary and of the Registrar, the Registrar shall reflect on its books and records the
date and an increase in the principal amount of the Regulation S Global Notes in an amount
equal to the principal amount of the U.S. Physical Notes or the 144A Global Notes, as the
case may be, to be transferred.

     (d) Transfers of Interests in the Regulation S Global Notes.

     The Registrar shall register the transfer of interests in Regulation S Global Notes without
requiring any additional certification.

     (e) Transfer Restricted Securities Legend.

     Upon the transfer, exchange or replacement of Notes not bearing the Transfer Restricted
Securities Legend, the Registrar shall deliver Notes that do not bear the Transfer Restricted
Securities Legend. Upon the transfer, exchange or replacement of Notes bearing the Transfer
Restricted Securities Legend, the Registrar shall deliver only Notes that bear the Transfer
Restricted Securities Legend unless (A) the circumstances described in clauses (ii), (iii) and (iv)
of Section 2.02(a) exist or (ii) there is delivered to the Registrar an Opinion of Counsel
reasonably satisfactory to the Company and the Trustee to the effect that neither such legend nor
the related restrictions on transfer are required in order to maintain compliance with the
provisions of the Securities Act.

22

 

     (f) Certain Transfers in Connection With and After the Exchange Offer.

     Notwithstanding any other provision of this Indenture:

     (i) no Exchange Note may be exchanged by the Holder thereof for an Initial Note;

     (ii) accrued and unpaid interest on the Initial Notes being exchanged in the Exchange
Offer shall be due and payable on the next Interest Payment Date for the Exchange Notes
following the Exchange Offer and shall be paid to the Holder on the relevant record date of
the Exchange Notes issued in respect of the Initial Note being exchanged; and

     (iii) interest on the Initial Note being exchanged in the Exchange Offer shall cease to
accrue on the date of completion of the Exchange Offer and interest on the Exchange Notes to
be issued in the Exchange Offer shall accrue from the date of the completion of the Exchange
Offer.

     (g) General.

     By its acceptance of any Note bearing the Transfer Restricted Securities Legend, each Holder
of such a Note acknowledges the restrictions on transfer of such Note set forth in this Indenture
and agrees that it will transfer such Note only as provided in this Indenture. The Registrar shall
not register a transfer of any Note unless such transfer complies with the restrictions on transfer
of such Note set forth in this Indenture. The Registrar shall be entitled to receive and rely on
written instructions from the Company verifying that such transfer complies with such restrictions
on transfer. In connection with any transfer of Notes, each Holder agrees by its acceptance of the
Notes to furnish the Registrar or the Company such certifications, legal opinions or other
information as either of them may reasonably require to confirm that such transfer is being made
pursuant to an exemption from, or a transaction not subject to, the registration requirements of
the Securities Act; provided that the Registrar shall not be required to determine (but may rely on
a determination made by the Company with respect to) the sufficiency of any such certifications,
legal opinions or other information.

     The Registrar shall retain copies of all letters, notices and other written communications
received pursuant to Section 2.08 hereof or this Section 2.09. The Company shall have the right to
inspect and make copies of all such letters, notices or other written communications at any
reasonable time upon the giving of reasonable written notice to the Registrar.

     SECTION 2.10. Replacement Notes.

     If a mutilated Note is surrendered to the Trustee or if the Holder of a Note claims that the
Note has been lost, destroyed or wrongfully taken, the Company shall issue and the Trustee shall
authenticate a replacement Note if the requirements of the Trustee and the Company are met;
provided that, if any such Note has been called for redemption in accordance with the terms
thereof, the Trustee may pay the Redemption Price thereof on the Redemption Date without
authenticating or replacing such Note. The Trustee or the Company may, in either case, require the
Holder to provide an indemnity bond sufficient in the judgment of each of the Trustee and

23

 

the Company to protect the Company, the Trustee or any Agent from any loss which any of them
may suffer if a Note is replaced or if the Redemption Price therefor is paid pursuant to this
Section 2.10. The Company may charge the Holder who has lost a Note for its expenses in replacing
a Note.

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

     SECTION 2.11. Outstanding Notes.

     The Notes outstanding at any time are all the Notes authenticated by the Trustee, except for
(i) those cancelled by it, (ii) those delivered to it for cancellation and (iii) those described in
this Section as not outstanding.

     If a Note is replaced pursuant to Section 2.10 hereof, it ceases to be outstanding and
interest ceases to accrue unless the Trustee receives proof satisfactory to it that the replaced
Note is held by a bona fide purchaser.

     If all principal of and interest on any Note are considered paid under Section 4.01 hereof,
such Note ceases to be outstanding and interest on it ceases to accrue.

     Except as provided in Section 2.12 hereof, a Note does not cease to be outstanding because the
Company or an Affiliate of the Company holds such Note.

     SECTION 2.12. Treasury Notes.

     In determining whether the Holders of the required principal amount of Notes of any series
have concurred in any direction, waiver or consent, Notes owned by the Company or an Affiliate of
the Company shall be considered as though they are not outstanding, except that for the purposes of
determining whether the Trustee shall be protected in relying on any such direction, waiver or
consent, only Notes which such Trustee actually knows are so owned shall be so disregarded.

     SECTION 2.13. Temporary Notes.

     Until definitive Notes are ready for delivery, the Company may prepare and execute, and the
Trustee shall authenticate upon a written order of the Company signed by one Officer of the
Company, temporary Notes. Temporary Notes shall be substantially in the form of definitive Notes
but may have variations that the Company considers appropriate for temporary Notes. Without
unreasonable delay, the Company shall prepare, and the Trustee shall authenticate, definitive Notes
in exchange for temporary Notes. Holders of temporary Notes shall be entitled to all of the
benefits of this Indenture.

     SECTION 2.14. Cancellation.

     The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and
Paying Agent shall forward to the Trustee any Notes surrendered to them for

24

 

registration of transfer, exchange, payment or repurchase. The Trustee shall cancel all Notes
surrendered for registration of transfer, exchange, payment, repurchase, redemption, replacement or
cancellation and shall return such cancelled Notes to the Company upon the Company’s written
request (subject to the record retention requirements of the Exchange Act). The Company may not
issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for
cancellation.

     SECTION 2.15. CUSIP Numbers.

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

     SECTION 2.16. Defaulted Interest.

     If the Company fails to make a payment of interest on Notes, it shall pay such defaulted
interest plus (to the extent lawful) any interest payable on the defaulted interest, in any lawful
manner. It may elect to pay such defaulted interest, plus any such interest payable on it, to the
Persons who are Holders of such Notes on which the interest is due on a subsequent special record
date. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed
to be paid on each such Note. The Company shall fix any such record date and payment date for such
payment. At least 15 days before any such record date, the Company shall mail to Holders affected
thereby a notice that states the record date, Interest Payment Date, and amount of such interest to
be paid.

     SECTION 2.17. Special Record Dates.

     The Company may, but shall not be obligated to, set a record date for the purpose of
determining the identity of Holders of Notes entitled to consent to any supplement, amendment or
waiver permitted by this Indenture. If a record date is fixed, the Holders of Notes outstanding on
such record date, and no other Holders, shall be entitled to consent to such supplement, amendment
or waiver or revoke any consent previously given, whether or not such Holders remain Holders after
such record date. No consent shall be valid or effective for more than 90 days after such record
date unless consents from Holders of the principal amount of Notes required hereunder for such
amendment or waiver to be effective shall have also been given and not revoked within such 90-day
period.

     SECTION 2.18. Issuance of Additional Notes.

     The Company shall be entitled to issue additional Notes (“Additional Notes”) under this
Indenture which shall have identical terms and the Initial Notes issued on the date hereof, other
than with respect to the date of issuance, issue price and amount of interest payable on the first
payment date applicable thereto. The Initial Notes issued on the date hereof, any Additional Notes
and all Exchange Notes issued in exchange therefor shall be treated as a single class for all

25

 

purposes under this Indenture. Any Additional Notes shall be issued in conformity with
applicable securities laws.

ARTICLE III

REDEMPTION

     SECTION 3.01. Notices to Trustee.

     If the Company elects to redeem any series of Notes pursuant to the optional redemption
provisions of Section 3.07 hereof, it shall notify the Trustee in writing of the intended
Redemption Date, the principal amount of Notes to be redeemed and the CUSIP numbers of the Notes to
be redeemed.

     The Company shall give each notice provided for in this Section 3.01 and an Officers’
Certificate at least 5 days before the giving of the notice of redemption (unless a shorter period
shall be satisfactory to the Trustee).

     SECTION 3.02. Selection of Notes to Be Redeemed.

     If fewer than all the Notes of any series are to be redeemed, the Trustee shall select the
Notes of such series to be redeemed from the outstanding Notes of such series by a method that
complies with the requirements of any exchange on which the Notes are listed, or, if the Notes are
not listed on an exchange, on a pro rata basis or by lot or in accordance with any other method the
Trustee considers fair and appropriate.

     Notes and portions thereof of any series that the Trustee selects shall be in amounts equal to
the minimum authorized denomination for Notes to be redeemed or any integral multiple thereof.
Provisions of this Indenture that apply to Notes of any series called for redemption also apply to
portions of Notes of such series called for redemption. The Trustee shall notify the Company
promptly in writing of the Notes or portions of Notes of any series to be called for redemption.

     SECTION 3.03. Notice of Redemption.

     At least 30 days but not more than 60 days before the Redemption Date, the Company shall mail
a notice of redemption by first-class mail to each Holder whose Notes are to be redeemed at the
address of such Holder appearing in the Register.

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

     (i) the Redemption Date;

     (ii) the method being used to determine the Redemption Price;

     (iii) if fewer than all outstanding Notes are to be redeemed, the portion of the
principal amount of the Notes to be redeemed and that, after the Redemption Date, upon

26

 

surrender of such Note, a new Note in principal amount equal to the unredeemed portion
will be issued;

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

     (v) that Notes called for redemption must be presented and surrendered to the Paying
Agent to collect the Redemption Price;

     (vi) that, unless the Company defaults in payment of the Redemption Price, interest on
Notes called for redemption ceases to accrue interest on and after the Redemption Date; and

     (vii) the CUSIP numbers, if any, of the Notes to be redeemed.

     At the Company’s written request, the Trustee shall give the notice of redemption in the
Company’s name and at its expense. The notice mailed in the manner herein provided shall be
conclusively presumed to have been duly given whether or not the Holder receives such notice. In
any case, failure to give such notice by mail or any defect in the notice to the Holder of any
Notes shall not affect the validity of the proceeding for the redemption of any other Notes.

     SECTION 3.04. Effect of Notice of Redemption.

     Once notice of redemption is mailed, Notes called for redemption become irrevocably due and
payable on the Redemption Date at the Redemption Price. Upon surrender to the Paying Agent, such
Notes shall be paid at the Redemption Price.

     SECTION 3.05. Deposit of Redemption Price.

     Prior to 11:00 a.m., New York City time, on the Redemption Date, the Company shall deposit
with the Trustee or with the Paying Agent (or, if the Company or an Affiliate of the Company is
acting as the paying Agent, shall segregate and hold in trust) an amount of money sufficient to pay
the Redemption Price of all Notes to be redeemed on that date. The Paying Agent shall promptly
return to the Company any amount of money not required for that purpose.

     SECTION 3.06. Notes Redeemed in Part.

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

     SECTION 3.07. Optional Redemption.

     (a) Except as set forth in clause (b) of this Section 3.07, the 2013 Notes shall not be
redeemable at the option of the Company prior to December 1, 2010 or the 2016 Notes prior to
December 1, 2011. Beginning on December 1, 2010 or December 1, 2011, as applicable, the Company
may redeem all or a portion of the 2013 Notes or 2016 Notes, as applicable, at once or over time,
after giving the notice required pursuant to Section 3.03 hereof, at the redemption prices
(expressed as percentages of principal amount) set forth below, plus accrued and unpaid

27

 

interest and Additional Interest, if any, on the 2013 Notes or 2016 Notes redeemed, as
applicable, to the applicable redemption date (subject to the right of Holders of record on the
relevant Regular Record Date to receive interest due on the relevant Interest Payment Date), if
redeemed during the twelve-month period commencing on December 1 of the years indicated below:

     (i) 2013 Notes:

	 	 	 	 	 
	Year	 	Percentage
	2010
	 	 	104.250	%
	2011
	 	 	102.125	%
	2012 and thereafter
	 	 	100.000	%

     (ii) 2016 Notes:

	 	 	 	 	 
	Year	 	Percentage
	2011
	 	 	104.375	%
	2012
	 	 	102.917	%
	2013
	 	 	101.458	%
	2014 and thereafter
	 	 	100.000	%

     (b) Prior to December 1, 2010, in the case of the 2013 Notes, and prior to December 1, 2011,
in the case of the 2016 Notes, the Company may, at its option, redeem either series of Notes, in
whole or in part, at any time at a redemption price equal to the greater of:

     (i) 100% of the principal amount of the Notes of such series being redeemed; or

     (ii) the sum of the present values of (a) the redemption price of the 2013 Notes at
December 1, 2010 or the redemption price of the 2016 Notes at December 1, 2011, as
applicable (such redemption prices being set forth in the applicable table above) plus (b)
all required interest payments due on the 2013 Notes through December 1, 2010 or all
required interest payments due on the 2016 Notes through December 1, 2011, as applicable
(excluding accrued but unpaid interest) discounted to the redemption date on a semiannual
basis (assuming a 360-day year consisting of 12 months of 30 days each) at the Treasury Rate
plus 50 basis points, in each case, together with any interest accrued but not paid to the
date of redemption.

     (c) For purposes of this optional redemption provision, the following terms have the following
definitions:

     “Comparable Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term of the Notes to
be redeemed that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of comparable maturity to
the remaining term of such Notes.

28

 

     “Comparable Treasury Price” means, with respect to any Redemption Date for the Notes, (i) the
average of three Reference Treasury Dealer Quotations for such Redemption Date, after excluding the
highest and lowest of such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains
fewer than three such Reference Treasury Dealer Quotations, the average of all such quotations.

     “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the
Trustee after consultation with the Company.

     “Reference Treasury Dealer” means Citigroup Global Markets Inc. and two other primary U.S.
Government securities dealers in New York City (each, a “Primary Treasury Dealer”) appointed by the
Trustee after consultation with the Company; provided, however, that if any of the foregoing ceases
to be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury
Dealer.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the Trustee, of the bid and asked prices for
the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m. (New York City
time) on the third Business Day preceding such Redemption Date.

     “Treasury Rate” means, with respect to any Redemption Date for the Notes, (1) the yield, under
the heading which represents the average for the immediately preceding week, appearing in the most
recently published statistical release designated “H.15(519)” or any successor publication which is
published weekly by the Board of Governors of the Federal Reserve System and which establishes
yields on actively traded United States Treasury securities adjusted to constant maturity under the
caption “Treasury Constant Maturities”, for the maturity corresponding to the Comparable Treasury
Issue (if no maturity is within three months before or after the maturity date for the Notes,
yields for the two published maturities most closely corresponding to the Comparable Treasury Issue
shall be determined and the Treasury Rate shall be interpolated or extrapolated from such yields on
a straight line basis, rounding to the nearest month) or (2) if such release (or any successor
release) is not published during the week preceding the calculation date or does not contain such
yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable
Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption
Date. The Treasury Rate shall be calculated on the third Business Day preceding the Redemption
Date.

ARTICLE IV

COVENANTS

     SECTION 4.01. Payment of Notes.

     The Company shall pay, or cause to be paid, the principal of and interest on the Notes on the
dates and in the manner provided in this Indenture and the Notes. Principal and interest shall be
considered paid on the date due if the Paying Agent, if other than the Company, a

29

 

Subsidiary of the Company or any Affiliate of any of them, holds as of 11:00 a.m. (New York
City time) on that date immediately available funds designated for and sufficient to pay all
principal and interest then due. If the Company or any Subsidiary of the Company or any Affiliate
of any of them acts as Paying Agent, principal or interest shall be considered paid on the due date
if the entity acting as Paying Agent complies with the second paragraph of Section 2.05 hereof.

     The Company shall pay interest on overdue principal and premium, and interest on overdue
installments of interest, to the extent lawful, at the rate per annum specified therefor in the
Notes.

     Notwithstanding anything to the contrary contained in this Indenture, the Company may, to the
extent it is required to do so by law, deduct or withhold income or other similar taxes imposed by
the United States of America from principal or interest payments hereunder.

     SECTION 4.02. Maintenance of Office or Agency.

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

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

     The Company hereby designates the New York office of the Trustee located at 101 Barclay
Street, New York, New York 10286, as one such office or agency of the Company in accordance with
Section 2.04 hereof.

     SECTION 4.03. Reports.

     (a) The Company shall deliver to the Trustee within 15 days after it files them with the SEC
copies of the annual reports and of the information, documents, and other reports (or copies of
such portions of any of the foregoing as the SEC may by rules and regulations prescribe) which the
Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act;
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

30

 

the SEC. The Company also shall comply with the other provisions of Section 314(a) of the
TIA.

     (b) If at any time the Company is not subject to Section 13 or Section 15(d) of the Exchange
Act, upon the request of a Holder of Notes, the Company will promptly furnish or cause the Trustee
to furnish to such Holder or to a prospective purchaser of a Note designated by such Holder, as the
case may be, the information, if any, required to be delivered by it pursuant to Rule 144A(d)(4)
under the Securities Act to permit compliance with Rule 144A in connection with resales of the
Notes.

     (c) Delivery of reports, information and documents to the Trustee pursuant to this Section
4.03 is for informational purposes only and the Trustee’s receipt of such shall not constitute
constructive notice of any information contained therein or determinable from information contained
therein, including the Company’s compliance with any of its covenants hereunder (as to which the
Trustee is entitled to rely exclusively on Officers’ Certificates).

     SECTION 4.04. Compliance Certificate.

     The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year of
the Company, an Officers’ Certificate, one of the signers of which is the chief executive officer,
vice chairman, the chief financial officer, executive vice president or the chief accounting
officer of the Company, stating that in the course of the performance by the signers of their
duties as officers of the Company, they would normally have knowledge of any failure by the Company
to comply with all conditions, or Default by the Company with respect to any covenants, under this
Indenture, and further stating whether or not they have knowledge of any such failure or Default
and, if so, specifying each such failure or Default and the nature thereof. For purposes of this
Section, such compliance shall be determined without regard to any period of grace or requirement
of notice provided for in this Indenture. The certificate need not comply with Section 11.04
hereof.

     SECTION 4.05. Taxes.

     The Company shall pay prior to delinquency, all material taxes, assessments, and governmental
levies except as contested in good faith by appropriate proceedings.

     SECTION 4.06. Corporate Existence.

     Subject to Article V hereof, the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect (i) its corporate existence and (ii) the material rights
(charter and statutory), licenses and franchises of the Company and its Subsidiaries taken as a
whole; provided, however, that the Company shall not be required to preserve any such right,
license or franchise if the Board of Directors or management of the Company determines that the
preservation thereof is no longer in the best interests of the Company, and that the loss thereof
is not adverse in any material respect to the Holders.

31

 

     SECTION 4.07. Limitation on Liens.

     The Company shall not, nor shall it permit any of its Restricted Subsidiaries to, create,
incur, assume or permit to exist any Lien on any of their respective properties or assets, whether
now owned or hereafter acquired, or upon any income or profits therefrom, without effectively
providing that the Notes shall be equally and ratably secured until such time as such Indebtedness
is no longer secured by such Lien, except:

     (i) Permitted Liens;

     (ii) Liens securing obligations under the Senior Credit Facilities in an amount not to
exceed $3.0 billion at any one time outstanding less the amount of Liens outstanding under
clause (iii) below;

     (iii) Liens securing the 2014 Notes;

     (iv) Liens on receivables subject to a Receivable Financing Transaction;

     (v) Liens arising in connection with industrial development bonds or other industrial
development, pollution control or other tax-favored or government-sponsored financing
transactions, provided that such Liens do not at any time encumber any property other than
the property financed by such transaction and other property, assets or revenues related to
the property so financed on which Liens are customarily granted in connection with such
transactions (in each case, together with improvements and attachments thereto);

     (vi) Liens granted after the Issue Date on any assets or properties of the Company or
any of its Restricted Subsidiaries to secure obligations under the Notes;

     (vii) Extensions, renewals and replacements of any Lien described in subsections (i)
through (vi) above; and

     (viii) Other Liens in respect of Indebtedness of the Company and its Restricted
Subsidiaries in an aggregate principal amount at any time not exceeding 10% of Consolidated
Assets at such time.

     SECTION 4.08. Limitation on Sale and Lease-Back Transactions.

     The Company shall not, nor shall it permit any of its Restricted Subsidiaries to, enter into
any sale and lease-back transaction for the sale and leasing back of any property or asset, whether
now owned or hereafter acquired, of the Company or any of its Restricted Subsidiaries (except such
transactions (i) entered into prior to the Issue Date, (ii) for the sale and leasing back of any
property or asset by a Restricted Subsidiary of the Company to the Company or any other Restricted
Subsidiary of the Company, (iii) involving leases for less than three years or (iv) in which the
lease for the property or asset is entered into within 120 days after the later of the date of
acquisition, completion of construction or commencement of full operations of such property or
asset) unless:

32

 

     (a) the Company or such Restricted Subsidiary would be entitled under Section 4.07
hereof to create, incur, assume or permit to exist a Lien on the assets to be leased in an
amount at least equal to the Attributable Value in respect of such transaction without
equally and ratably securing the Notes; or

     (b) the proceeds of the sale of the assets to be leased are at least equal to their
fair market value and the proceeds are applied to the purchase, acquisition, construction or
refurbishment of assets or to the repayment of Indebtedness of the Company or any of its
Restricted Subsidiaries which on the date of original incurrence had a maturity of more than
one year.

     SECTION 4.09. Change of Control.

     (a) Upon the occurrence of a Change of Control, the Company shall make an offer (a “Change of
Control Offer”) to each Holder to repurchase all or any part of each Holder’s Notes at a purchase
price (the “Change of Control Purchase Price”) equal to 101% of the principal amount thereof, plus
accrued and unpaid interest, including Additional Interest, if any, to the repurchase date. Within
30 days following any Change of Control, the Company shall (i) cause a notice of the Change of
Control Offer to be sent at least once to the Dow Jones News Service or similar business news
service in the United States; and (ii) send, by first-class mail, with a copy to the Trustee, a
notice to each Holder stating: (1) that a Change of Control has occurred and a Change of Control
Offer is being made pursuant to Section 4.09 of this Indenture and that all Notes timely tendered
will be accepted for payment; (2) the Change of Control Purchase Price and the repurchase date,
which shall be, subject to any contrary requirements of applicable law, a Business Day no earlier
than 30 days nor later than 60 days from the date such notice is mailed (the “Change of Control
Payment Date”); (3) the circumstances and relevant facts regarding the Change of Control (including
information with respect to pro forma historical income, cash flow and capitalization after giving
effect to the Change of Control); and (4) the procedures that holders of notes must follow in order
to tender their Notes (or portions thereof) for payment, and the procedures that holders of Notes
must follow in order to withdraw an election to tender notes (or portions thereof) for payment. The
Company shall comply with the requirements of Rule 14e of the Exchange Act and any other securities
laws or regulations thereunder to the extent such laws and regulations are applicable in connection
with the repurchase of Notes in connection with a Change of Control Offer. To the extent that the
provisions of any securities laws or regulations conflict with Section 4.09 of this Indenture, the
Company will comply with the applicable securities laws and regulations and will not be deemed to
have breached its obligations under Section 4.09 of this Indenture by virtue of such compliance.

     (b) On the Change of Control Payment Date, the Company shall, to the extent lawful, (1) accept
for payment all Notes or portions thereof properly tendered pursuant to the Change of Control
Offer, (2) deposit with the Paying Agent an amount equal to the Change of Control Purchase Price in
respect of all Notes or portions thereof properly tendered and (3) deliver or cause to be delivered
to the Trustee the Notes properly accepted together with an Officers’ Certificate stating the
aggregate principal amount of Notes or portions thereof being purchased by the Company. The Paying
Agent shall promptly mail to each Holder of Notes properly tendered the Change of Control Purchase
Price for such Notes, and the Trustee shall promptly authenticate and mail (or cause to be
transferred by book entry) to each Holder a new Note equal

33

 

in principal amount to any unpurchased portion of the Notes surrendered by such Holder, if
any; provided, that each such new Note shall be in a principal amount of $1,000 or an integral
multiple thereof. The Company shall publicly announce the results of the Change of Control Offer on
or as soon as practicable after the Change of Control Payment Date.

     The Company will not be required to make a Change of Control Offer upon a Change of Control if
a third party makes the Change of Control Offer in the manner, at the times and otherwise in
compliance with the requirements set forth in Section 4.09 of this Indenture and all other
provisions of this Indenture applicable to a Change of Control Offer made by the Company and
purchases all Notes validly tendered and not withdrawn under such Change of Control Offer.

ARTICLE V

MERGER, ETC.

     SECTION 5.01. When Company May Merge, etc.

     The Company shall not consolidate or merge with or into, or sell, assign, transfer, lease,
convey or otherwise dispose of all or substantially all of its assets to, any Person unless:

     (i) the Person formed by or surviving any such consolidation or merger (if other than
the Company), or to which such sale, assignment, transfer, lease, conveyance or other
disposition shall have been made, is a corporation organized and existing under the laws of
the United States of America, any state thereof or the District of Columbia;

     (ii) the Person formed by or surviving any such consolidation or merger (if other than
the Company), or to which such sale, assignment, transfer, lease, conveyance or other
disposition shall have been made, assumes by supplemental indenture satisfactory in form to
the Trustee all of the obligations of the Company under the Notes and this Indenture; and

     (iii) immediately after such transaction, and giving effect thereto, no Default or
Event of Default shall have occurred and be continuing.

     Notwithstanding the foregoing, the Company may merge with another Person or acquire by
purchase or otherwise all or any part of the property or assets of any other corporation or Person
in a transaction in which the surviving entity is the Company.

     SECTION 5.02. Successor Corporation Substituted.

     Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or
other disposition of all or substantially all the assets of the Company in accordance with Section
5.01 hereof, the successor corporation formed by such consolidation or into which the Company is
merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made
shall succeed to, and be substituted for, and may exercise every right and power of, the Company
under this Indenture with the same effect as if such successor corporation had been named as the
Company herein. In the event of any such sale or conveyance, but not any such lease, the Company
or any successor corporation which thereafter will have become such in the

34

 

manner described in this Article V shall be discharged from all obligations and covenants
under the Notes and this Indenture and may be dissolved, wound up or liquidated.

ARTICLE VI

DEFAULTS AND REMEDIES

     SECTION 6.01. Events of Default.

     An “Event of Default” with respect to each series of the Notes occurs when any of the
following occurs:

     (i) the Company defaults in the payment of the principal of any Note of such series when it
becomes due and payable at maturity, upon acceleration, redemption or otherwise;

     (ii) the Company defaults in the payment of interest on any Note of such series when it
becomes due and payable and such default continues for a period of 30 days;

     (iii) the Company or any Guarantor fails to comply with any of its other agreements or
covenants in, or provisions of, the Notes or this Indenture and the Company does not cure the
Default within sixty (60) days after the Trustee notifies the Company in writing, or the holders of
at least 25% in principal amount of the outstanding Notes of such series notify the Company and the
Trustee in writing;

     (iv) any Guarantee of the Notes of such series ceases to be in full force and effect or any
Guarantor denies or disaffirms its obligations under its Guarantee of the Notes of such series,
except, in each case, in connection with a release of a Guarantee in accordance with the terms of
this Indenture;

     (v) the nonpayment at maturity or other default (beyond any applicable grace period) under any
agreement or instrument relating to any other Indebtedness of the Company or any of its Significant
Subsidiaries (the unpaid principal amount of which is not less than $50,000,000), which default
results in the acceleration of the maturity of such Indebtedness prior to its stated maturity or
occurs at the final maturity thereof and such acceleration has not been rescinded or annulled, or
such Indebtedness repaid, within thirty (30) days after the Trustee notifies the Company in
writing, or the holders of at least 25% in principal amount of the outstanding Notes of such series
notify the Company and the Trustee in writing; provided that if any such default with respect to
other Indebtedness is cured, waived, rescinded or annulled, then any Event of Default by reason
thereof shall be deemed not to have occurred;

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

     (a) commences a voluntary case or proceeding;

     (b) consents to the entry of an order for relief against it in an involuntary
case or proceeding;

35

 

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

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

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

     (a) is for relief against the Company or any Significant Subsidiary in an
involuntary case or proceeding;

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

     (c) orders the winding up or liquidation of the Company or any Significant
Subsidiary,

and any such order or decree under this clause (vii) remains unstayed and in effect for 60
days.

     Any notice of default under clause (iii) or (v) of this Section 6.01 must specify the Default,
demand that it be remedied and state that the notice is a “Notice of Default.”

     SECTION 6.02. Acceleration.

     If an Event of Default with respect to any series of outstanding Notes (other than an Event of
Default specified in clause (vi) or (vii) of Section 6.01 hereof) occurs and is continuing, the
Trustee or the Holders of at least 25% in principal amount of the outstanding Notes of the
applicable series, by written notice to the Company, may declare due and payable 100% of the
principal amount of all Notes of such series plus any accrued and unpaid interest to the date of
payment. Upon a declaration of acceleration, such principal (or such lesser amount) and accrued
and unpaid interest to the date of payment shall be due and payable. If an Event of Default
specified in clause (vi) or (vii) of Section 6.01 hereof occurs, all unpaid principal and accrued
interest on the Notes shall become and be immediately due and payable without any declaration or
other act on the part of the Trustee or any Holder.

     The Holders of a majority in principal amount of any outstanding series of Notes by written
notice to the Trustee may rescind and annul an acceleration and its consequences if (i) all
existing Events of Default, other than the nonpayment of principal (or such lesser amount) of or
interest on the Notes which have become due solely because of the acceleration, have been cured or
waived and (ii) the rescission would not conflict with any judgment or decree of a court of
competent jurisdiction.

     SECTION 6.03. Other Remedies.

     If an Event of Default with respect to any series of outstanding Notes occurs and is
continuing, the Trustee may pursue any available remedy by proceeding at law or in equity to
collect the payment of principal of or interest on such series of Notes or to enforce the

36

 

performance of any provision of such series of Notes or this Indenture, including, without
limitation, seeking recourse against any Guarantor.

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

     SECTION 6.04. Waiver of Past Defaults.

     Subject to Sections 6.07 and 9.02 hereof, the Holders of at least a majority in principal
amount of any series of outstanding Notes by notice to the Trustee may waive an existing Default or
Event of Default except a Default or Event of Default in the payment of the principal of or
interest on such series of Notes (provided, however, that, subject to Section 6.07, the Holders of
a majority in principal amount of the then outstanding Notes may rescind an acceleration and its
consequences, including any related payment default that resulted from such acceleration). When a
Default or Event of Default is waived, it is deemed cured and ceases.

     SECTION 6.05. Control by Majority.

     The Holders of at least a majority in principal amount of any outstanding series of Notes may
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 it. However, the Trustee may refuse to
follow any direction that (i) conflicts with law or this Indenture, (ii) the Trustee determines may
be unduly prejudicial to the rights of other Holders of Notes of such series or (iii) may involve
the Trustee in personal liability. The Trustee may take any other action that it deems proper
which is not inconsistent with any such direction.

     SECTION 6.06. Limitation on Suits.

     Subject to the provisions of Section 6.07 hereof, no Holder of Notes of any series may pursue
any remedy with respect to this Indenture or the Notes of such series unless:

     (i) the Holder gives to the Trustee written notice stating that an Event of Default is
continuing;

     (ii) the Holders of at least 25% in principal amount of such series of Notes make a
written request to the Trustee to pursue the remedy;

     (iii) such Holder or Holders offer to the Trustee indemnity satisfactory to the Trustee
against any loss, liability, cost or expense;

     (iv) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer of indemnity; and

37

 

     (v) during such 60-day period, the Holders of at least a majority in principal amount
of such series of Notes do not give the Trustee a direction inconsistent with the request.

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

     SECTION 6.07. Rights of Holders To Receive Payment.

     Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to
receive payment of principal of or interest, if any, on the Note on or after the respective due
dates expressed or provided for in the Note, or to bring suit for the enforcement of any such
payment on or after such respective dates, shall not be impaired or affected without the consent of
the Holder.

     SECTION 6.08. Collection Suit by Trustee.

     If an Event of Default specified in Section 6.01(i) or (ii) hereof occurs and is continuing
with respect to the Notes, the Trustee may recover judgment in its own name and as trustee of an
express trust against the Company (and any other obligor on the Notes, including any Guarantor) for
the whole amount of principal and accrued interest, if any, remaining unpaid on the outstanding
Notes (and the related Guarantees), together with (to the extent lawful) interest on overdue
principal and interest, and such further amount as shall be sufficient to cover the costs and, to
the extent lawful, expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel and any other amounts due the
Trustee under Section 7.08 hereof.

     SECTION 6.09. Trustee May File Proofs of Claim.

     The Trustee may file such proofs of claim and other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee and the Holders allowed in any judicial
proceeding relative to the Company (or any other obligor upon the Notes, including any Guarantor),
its creditors or its property and shall be entitled and empowered to collect and receive any moneys
or other property payable or deliverable on any such claims and to distribute the same, and any
custodian in any such judicial proceedings is hereby authorized by each Holder to make such
payments to the Trustee and, in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due the Trustee under Section 7.08 hereof. Nothing contained in this Indenture shall
be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or
the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of
any Holder in any such proceeding.

     SECTION 6.10. Priorities.

     If the Trustee collects any amount of money with respect to the Notes pursuant to this Article
VI, it shall pay out the money in the following order:

38

 

     (First) to the Trustee, its agents and attorneys for amounts due under Section 7.08 hereof,
including payment of all compensation, expense and liabilities incurred, and all advances made by
the trustee and the costs and expenses of collection;

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

     (Third) to the Company or any other obligors on the Notes, as their interests may appear, or
to such party as a court of competent jurisdiction may direct.

     The Trustee, upon prior written notice to the Company, may fix a record date and payment date
for any payment to Holders pursuant to this Section 6.10. The Trustee shall notify the Company in
writing reasonably in advance of any such record date and payment date.

     SECTION 6.11. Undertaking for Costs.

     In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees and expenses, against any party litigant in the suit, having due regard to the merits and good
faith of the claims or defenses made by the party litigant. This Section 6.11 does not apply to a
suit by the Trustee, a suit by a Holder pursuant to Section 6.07 hereof or a suit by Holders of
more than 10% in principal amount of any outstanding series of Notes.

     SECTION 6.12. Stay, Extension and Usury Laws.

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

ARTICLE VII

TRUSTEE

     SECTION 7.01. Duties of Trustee.

     (a) If an Event of Default with respect to the Notes has occurred and is continuing, the
Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the
same degree of care and skill in their exercise, as a prudent person would exercise or use under
the circumstances in the conduct of such person’s own affairs.

39

 

     (b) Except during the continuance of an Event of Default:

     (1) the Trustee need perform only those duties that are specifically set forth in this
Indenture or the TIA, and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and

     (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture; provided, however, that in the case of any such certificates or opinions which by
any provision hereof are specifically required to be furnished to the Trustee, the Trustee
shall examine the certificates and opinions to determine whether or not, on their face, they
conform to the requirements of this Indenture (but need not investigate or confirm the
accuracy of mathematical calculations or other facts stated therein).

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

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

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

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

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

     (e) No provision of this Indenture shall require the Trustee to expend or risk its own funds
or incur any liability. The Trustee may refuse to perform any duty or exercise any right or power
unless it receives indemnity satisfactory to it against any loss, liability, cost or expense
(including, without limitation, reasonable fees of counsel).

     (f) The Trustee shall not be obligated to pay interest on any money or other assets received
by it unless otherwise agreed in writing with the Company. Assets held in trust by the Trustee
need not be segregated from other funds except to the extent required by law.

     (g) The Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine the books, records and premises of the

40

 

Company, personally or by agent or attorney at the sole cost of the Company and shall incur no
liability or additional liability of any kind by reason of such inquiry or investigation.

     (h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a
Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any
event which is in fact such a Default is received by the Trustee at the Corporate Trust Office of
the Trustee, and such notice references the Notes and this Indenture.

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

     SECTION 7.02. Rights of Trustee.

     Subject to Section 315(a) through (d) of the TIA:

     (a) The Trustee may conclusively rely on any document believed by it to be genuine and to have
been signed or presented by the proper person. The Trustee need not investigate any fact or matter
stated in the document.

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

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

     (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
that it believes to be authorized or within the rights or powers conferred upon it by this
Indenture, unless the Trustee’s conduct constitutes negligence.

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

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

     (g) The Trustee may request that the Company deliver an Officers’ Certificate setting forth
the names of individuals and/or titles of officers authorized at such time to take specified
actions pursuant to this Indenture, which Officers’ Certificate may be signed by any person
authorized to sign an Officers’ Certificate, including any person specified as so authorized in any
such certificate previously delivered and not superseded.

     (h) The Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request or direction of any of the Holders pursuant to this

41

 

Indenture, unless such Holders shall have offered to the Trustee security or indemnity
satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by
it in compliance with such request or direction.

     (i) In no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action.

     (j) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a
Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any
event which is in fact such a default is received by the Trustee at the Corporate Trust Office of
the Trustee, and such notice references the Notes and this Indenture.

     SECTION 7.03. Individual Rights of Trustee.

     The Trustee in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Company or any Affiliate of the Company with the same rights it
would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting
interest (as such term is defined in Section 3.10(b) of the TIA), it must eliminate such conflict
within 90 days, apply to the SEC for permission to continue as trustee (to the extent permitted
under Section 310(b) of the TIA) or resign. Any agent may do the same with like rights and duties.
The Trustee is also subject to Sections 7.10 and 7.11 hereof.

     SECTION 7.04. Money Held in Trust.

     Money held by the Trustee in trust hereunder 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 money
received by it hereunder except as otherwise agreed in writing with the Company.

     SECTION 7.05. Trustee’s Disclaimer.

     The Trustee (i) makes no representation as to the validity or adequacy of this Indenture, the
Notes or the Guarantees, (ii) is not be accountable for the Company’s use of the proceeds from the
Notes, and (iii) is not be responsible for any statement in the Notes other than its certificate of
authentication.

     SECTION 7.06. Notice of Defaults.

     If a Default or Event of Default with respect to the Notes occurs and is continuing, and if it
is actually known to the Trustee, the Trustee shall mail to Holders a notice of the Default or
Event of Default within 90 days after the occurrence thereof. Except in the case of a Default or
Event of Default in payment of any such Note, the Trustee may withhold the notice if and so long as
it in good faith determines that withholding the notice is in the interests of the Holders.

42

 

     SECTION 7.07. Reports by Trustee to Holders.

     The Trustee shall transmit to Holders such reports concerning the Trustee and its actions
under this Indenture as may be required by Section 313 of the TIA at the times and in the manner
provided by the TIA, which initially shall be not less than every twelve months commencing on and
may be dated as of a date up to 75 days prior to such transmission.

     A copy of each report at the time of its mailing to Holders shall be filed with the SEC, if
required, and each stock exchange, if any, on which the Notes are listed. The Company shall
promptly notify the Trustee when the Notes become listed on any stock exchange.

     SECTION 7.08. Compensation and Indemnity.

     The Company shall pay to the Trustee from time to time such compensation as shall be agreed in
writing between the Company and the Trustee for its services hereunder. The Trustee’s compensation
shall not be limited by any law on compensation of a trustee of an express trust. The Company
shall reimburse the Trustee upon request for all reasonable disbursements, advances and expenses
incurred by it, including in particular, but without limitation, those incurred in connection with
the enforcement of any remedies hereunder. Such expenses may include the reasonable fees and
out-of-pocket expenses of the Trustee’s agents and counsel.

     Except as set forth in the next paragraph, the Company and the Guarantors, jointly and
severally, shall indemnify and hold harmless the Trustee and any predecessor trustee against any
and all loss, liability, damage, claim or expense, including taxes (other than taxes based upon,
measured by or determined by the income of the Trustee) incurred by it arising out of or in
connection with the acceptance or administration of the trust under this Indenture. The Trustee
shall notify the Company promptly of any claim of which it has received written notice for which it
may seek indemnity. The Company shall defend such claim and the Trustee shall cooperate in such
defense. The Trustee may have separate counsel and the Company shall pay the reasonable fees and
out-of-pocket expenses of such counsel.

     The Company need not reimburse any expense or indemnify against any loss, liability, cost or
expense incurred by the Trustee through its own negligence, willful misconduct or bad faith.

     To secure the Company’s payment obligations in this Section 7.08, the Trustee shall have a
lien prior to the Notes on all money or property held or collected by the Trustee, except that held
in trust to pay the principal of and interest on particular Notes. The Trustee’s right to receive
payment of any amounts due under this Section 7.08 will not be subordinate to any other liability
or indebtedness of the Company.

     The Company’s payment obligations pursuant to this Section 7.08 shall survive the satisfaction
and discharge of this Indenture. When the Trustee incurs expenses or renders services after an
Event of Default specified in clause (vi) or (vii) of Section 6.01 hereof occurs, the expenses and
the compensation for the services are intended to constitute expenses of administration under any
Bankruptcy Law.

43

 

     The provisions of this Section shall survive the termination of this Indenture.

     SECTION 7.09. Replacement of Trustee.

     A resignation or removal of the Trustee and appointment of a successor Trustee shall become
effective only upon the successor Trustee’s acceptance of appointment as provided in this Section
7.09.

     The Trustee may resign and be discharged from the trust hereby created with respect to the
Notes by so notifying the Company in writing. The Holders of a majority in principal amount of the
then outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in
writing. The Company must remove the Trustee if:

     (i) the Trustee fails to comply with Section 7.10 hereof or Section 310 of the TIA;

     (ii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is
entered with respect to the Trustee under any Bankruptcy Law;

     (iii) a Custodian or public officer takes charge of the Trustee or its property; or

     (iv) the Trustee becomes incapable of acting.

     If the Trustee resigns or is removed or if a vacancy exists in the office of the Trustee for
any reason, the Company shall promptly appoint a successor Trustee for the Notes. The Trustee
shall be entitled to payment of its fees and reimbursement of its expenses while acting as Trustee.
Within one year after the successor Trustee takes office, the Holders of at least a majority in
principal amount of then outstanding Notes may appoint a successor Trustee to replace the successor
Trustee appointed by the Company.

     Any Holder of Notes may petition any court of competent jurisdiction for the removal of the
Trustee and the appointment of a successor Trustee if the Trustee fails to comply with Section 7.10
hereof.

     If an instrument of acceptance by a successor Trustee shall not have been delivered to the
Trustee within 30 days after the giving of such notice of resignation or removal, the resigning or
removed Trustee, as the case may be, may petition, at the expense of the Company, any court of
competent jurisdiction for the appointment of a successor Trustee with respect to the Notes.

     A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The Company shall mail a notice of the successor Trustee’s
succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as
Trustee to the successor Trustee, subject to the lien provided for in Section 7.08 hereof.
Notwithstanding replacement of the Trustee pursuant to this Section 7.09, the Company’s obligations
under Section 7.08 hereof shall continue for the benefit of the retiring Trustee with respect to
expenses, losses and liabilities incurred by it prior to such replacement.

44

 

     SECTION 7.10. Successor Trustee by Merger, Etc.

     Subject to Section 7.09 hereof, if the Trustee consolidates with, merges or converts into, or
transfers all or substantially all of its corporate trust business to, another corporation or
national banking association, the successor entity without any further act shall be the successor
Trustee.

     SECTION 7.11. Eligibility; Disqualification.

     The Trustee shall at all times satisfy the requirements of Section 310(a)(1), (2) and (5) of
the TIA. The Trustee shall at all times have a combined capital and surplus of at least $50
million as set forth in its most recent published annual report of condition. The Trustee is
subject to Section 310(b) of the TIA.

     SECTION 7.12. Preferential Collection of Claims Against the Company.

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

ARTICLE VIII

DISCHARGE OF INDENTURE

     SECTION 8.01. Satisfaction and Discharge of Indenture.

     This Indenture shall cease to be of further effect (except as to any surviving rights of
registration of transfer or exchange of Notes herein expressly provided for), and the Trustee, at
the expense of the Company, shall execute proper instruments acknowledging satisfaction and
discharge of this Indenture, when:

     (i) either:

     (a) all Notes previously authenticated and delivered (other than Notes which
have been destroyed, lost or stolen and which have been replaced or paid) have been
delivered to the Trustee for cancellation; or

     (b) all such Notes not previously delivered to the Trustee for cancellation
have become due and payable (whether at stated maturity, early redemption or
otherwise);

and, in the case of clause (b) above, the Company has deposited, or caused to be deposited,
irrevocably with the Trustee as trust funds in trust for the purpose of making the following
payments, specifically pledged as security for and dedicated solely to the benefit of the
Holders of Notes, cash in U.S. dollars and/or U.S. Government Obligations which through
the payment of interest and principal in respect thereof, in accordance with their terms,
will provide (and without reinvestment and assuming no tax liability will be imposed on such
Trustee), not later than one day before the due date of

45

 

any payment of money, an amount in cash, sufficient, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee, to pay principal of and interest on all the Notes on the
dates such payments of principal or interest are due to maturity or redemption;

     (ii) the Company has paid or caused to be paid all other sums payable hereunder by the
Company with respect to the Notes; and

     (iii) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion
of Counsel, each stating that all conditions precedent herein provided for relating to the
satisfaction and discharge of this Indenture with respect to the Notes have been complied
with.

     Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section 7.08 hereof shall survive, and, if money will have been
deposited with the Trustee pursuant to subclause (b) of clause (i) of this Section, the obligations
of the Trustee under Sections 8.02 and 8.05 hereof shall survive.

     SECTION 8.02. Application of Trust Funds; Indemnification.

     (a) Subject to the provisions of Section 8.05 hereof, all money and U.S. Government
Obligations deposited with the Trustee pursuant to Section 8.01, 8.03 or 8.04 hereof and all money
received by the Trustee in respect of U.S. Government Obligations deposited with the Trustee
pursuant to Sections 8.01, 8.03 or 8.04 hereof, shall be held in trust and applied by it, in
accordance with the provisions of the Notes and this Indenture, to the payment, either directly or
through any Paying Agent as the Trustee may determine, to the persons entitled thereto, of the
principal and interest for whose payment such money has been deposited with or received by the
Trustee.

     (b) The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against U.S. Government Obligations deposited pursuant to Sections 8.01,
8.03 or 8.04 hereof or the interest and principal received in respect of such obligations other
than any payable by or on behalf of Holders.

     (c) The Trustee shall deliver or pay to the Company from time to time upon the request of the
Company any U.S. Government Obligations or money held by it as provided in Sections 8.01, 8.03 or
8.04 hereof which, in the opinion of a nationally recognized firm of independent certified public
accountants expressed in a written certification thereof delivered to the Trustee, are then in
excess of the amount thereof which then would have been required to be deposited for the purpose
for which such U.S. Government Obligations or money were deposited or received. This provision
shall not authorize the sale by the Trustee of any U.S. Government Obligations held under this
Indenture.

     SECTION 8.03. Legal Defeasance.

     (a) The Company and the Guarantors shall be deemed to have been discharged from their
obligations with respect to all of the outstanding Notes of any series and the related Guarantees
on the 91st day after the date of the deposit referred to in subparagraph (d) hereof,

46

 

and the provisions of this Indenture, as it relates to such series of outstanding Notes and
the related Guarantees, shall no longer be in effect (and the Trustee, at the expense of the
Company, shall, upon the request of the Company, execute proper instruments acknowledging the
same), except as to:

     (i) the rights of Holders of Notes of such series to receive, solely from the trust
funds described in subparagraph (a) hereof, payments of the principal of or interest on the
outstanding Notes of such series on the date such payments are due;

     (ii) the Company’s obligations with respect to the Notes of such series under Sections
2.04, 2.05, 2.07, 2.08, 2.09 and 2.10 hereof; and

     (iii) the rights, powers, trust and immunities of the Trustee hereunder and the duties
of the Trustee under Section 8.02 hereof and the duty of the Trustee to authenticate Notes
of such series issued on registration of transfer of exchange;

provided that the following conditions shall have been satisfied:

     (a) the Company shall have deposited, or caused to be deposited, irrevocably
with the Trustee as trust funds in trust for the purpose of making the following
payments, specifically pledged as security for and dedicated solely to the benefit
of the Holders of such series of Notes, cash in U.S. dollars and/or U.S. Government
Obligations which through the payment of interest and principal in respect thereof,
in accordance with their terms, will provide (and without reinvestment and assuming
no tax liability will be imposed on such Trustee), not later than one day before the
due date of any payment of money, an amount in cash, sufficient, in the opinion of a
nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay principal of and interest on
all the Notes of such series on the dates such payments of principal or interest are
due to maturity or redemption;

     (b) such deposit will not result in a breach or violation of, or constitute a
Default under, this Indenture;

     (c) no Default or Event of Default with respect to such series of Notes shall
have occurred and be continuing on the date of such deposit and 91 days shall have
passed after the deposit has been made, and, during such 91 day period, no Default
specified in Section 6.01(vi) or (vii) hereof with respect to the Company occurs
which is continuing at the end of such period;

     (d) the Company shall have delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel to the effect that (A) the Company has received from, or
there has been published by, the Internal Revenue Service a ruling, or (B) since the
date of execution of this Indenture, there has been a change in the applicable
federal income tax law, in either case to the effect that, and based thereon such
Opinion of Counsel shall confirm that, the Holders of such series of Notes will not
recognize income, gain or loss for federal income tax purposes as a result of such
deposit, defeasance and discharge and will be subject

47

 

to federal income tax on the same amount and in the same manner and at the same
times as would have been the case if such deposit, defeasance and discharge had not
occurred;

     (e) the Company shall have delivered to the Trustee an Officers’ Certificate
stating that the deposit was not made by the Company with the intent of preferring
the Holders of such series of Notes over any other creditors of the Company or with
the intent of defeating, hindering, delaying or defrauding any other creditors of
the Company;

     (f) such deposit shall not result in the trust arising from such deposit
constituting an “investment company” (as defined in the Investment Company Act of
1940, as amended), or such trust shall be qualified under such Act or exempt from
regulation thereunder; and

     (g) the Company shall have delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel, each stating that all conditions precedent relating to
the defeasance contemplated by this Section 8.03 have been complied with.

     SECTION 8.04. Covenant Defeasance.

     On and after the 91st day after the date of the deposit referred to in subparagraph (a)
hereof, the Company may omit to comply with any term, provision or condition set forth under
Sections 4.03(a), 4.04, 4.05, 4.07, 4.08, 4.09 and 10.06 hereof as well as any additional covenants
contained in a supplemental indenture hereto (and the failure to comply with any such provisions
shall not constitute a Default or Event of Default under Section 6.01 hereof) and the occurrence of
any event described in clause (iii) of Section 6.01 hereof shall not constitute a Default or Event
of Default hereunder, with respect to any series of Notes, provided that the following conditions
shall have been satisfied:

     (i) with reference to this Section 8.04, the Company has deposited, or caused to be
deposited, irrevocably (except as provided in Section 8.05 hereof) with the Trustee as trust
funds in trust, specifically pledged as security for, and dedicated solely to, the benefit
of the Holders of such series of Notes, cash in U.S. dollars and/or U.S. Government
Obligations which through the payment of principal and interest in respect thereof, in
accordance with their terms, will provide (and without reinvestment and assuming no tax
liability will be imposed on such Trustee), not later than one day before the due date of
any payment of money, an amount in cash, sufficient, in the opinion of a nationally
recognized firm of independent certified public accountants expressed in a written
certification thereof delivered to the Trustee, to pay principal and interest on all the
Notes of such series on the dates such payments of principal and interest are due to
maturity or redemption;

     (ii) such deposit will not result in a breach or violation of, or constitute a Default
under, this Indenture;

48

 

     (iii) no Default or Event of Default with respect to such series of Notes shall have
occurred and be continuing on the date of such deposit and 91 days shall have passed after
the deposit has been made, and, during such 91 day period, no Default specified in Section
6.01(vi) or (vii) hereof with respect to the Company occurs which is continuing at the end
of such period;

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

     (v) the Company shall have delivered to the Trustee an Officers’ Certificate stating
the deposit was not made by the Company with the intent of preferring the Holders of such
series of Notes over any other creditors of the Company or with the intent of defeating,
hindering, delaying or defrauding any other creditors of the Company;

     (vi) such deposit shall not result in the trust arising from such deposit constituting
an “investment company” (as defined in the Investment Company Act of 1940, as amended), or
such trust shall be qualified under such Act or exempt from regulation thereunder; and

     (vii) the Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent herein provided for relating
to the defeasance contemplated by this Section 8.04 have been complied with.

     SECTION 8.05. Repayment to Company.

     The Trustee and the Paying Agent shall pay to the Company upon request any money held by them
for the payment of principal or interest that remains unclaimed for two years after the date upon
which such payment shall have become due. After payment to the Company, Holders entitled to the
money must look to the Company for payment as general creditors unless an applicable abandoned
property law designates another Person.

ARTICLE IX

AMENDMENTS, SUPPLEMENTS AND WAIVERS

     SECTION 9.01. Without Consent of Holders.

     Without the consent of any Holder, the Company, the Guarantors and the Trustee may, at any
time, amend this Indenture, the Notes or the Guarantees to:

     (i) cure any ambiguity, defect or inconsistency, provided that such change does not
adversely affect the rights hereunder of any Holder in any material respect;

49

 

     (ii) provide for uncertificated Notes in addition to or in place of certificated Notes
or to alter the provisions of Article II hereof (including the related definitions) in a
manner that does not materially adversely affect any Holder;

     (iii) provide for the assumption of the Company’s obligations to the Holders of Notes
in the case of a merger, consolidation or sale or other disposition of assets pursuant to
Article V hereof;

     (iv) comply with requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the TIA, provided that such change does not adversely
affect the rights hereunder of any Holder in any material respect;

     (v) make any change that does not adversely affect in any material respect the rights
hereunder of any Holder;

     (vi) add to the covenants of the Company and the Guarantors for the benefit of the
Holders or to surrender any right or power herein conferred upon the Company or the
Guarantors;

     (vii) add a Guarantor or remove a Guarantor in respect to any series of Notes which, in
accordance with the terms of this Indenture, ceases to be liable in respect of its
Guarantee;

     (viii) secure the Notes of any series;

     (ix) make appropriate provision in connection with the appointment of any successor
Trustee; or

     (x) provide for the issuance of the Exchange Notes, which will have terms substantially
identical in all material respects to the Initial Notes (except that (i) such Exchange Notes
shall not contain terms with respect to transfer restrictions and shall be registered under
the Securities Act and (ii) certain provisions relating to an increase in the stated rate of
interest thereon shall be eliminated) and which will be treated, together with any
outstanding Initial Notes, as a single issue of securities.

     Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental Indenture, and upon receipt by the
Trustee of the documents described in Section 7.02 hereof, the Trustee shall join with the Company
and the Guarantors in the execution of any amended or supplemental Indenture authorized or
permitted by the terms of this Indenture and to make any further appropriate agreements and
stipulations that may be therein contained, but the Trustee shall not be obligated to enter into
such amended or supplemental Indenture that affects its own rights, duties or immunities under this
Indenture or otherwise.

     SECTION 9.02. With Consent of Holders.

     Except as provided below in this Section 9.02, this Indenture, the Notes or the Guarantees may
be amended or supplemented, and noncompliance in any particular instance with any

50

 

provision of this Indenture, the Notes or the Guarantees may be waived, in each case with the
written consent of the Holders of at least a majority in principal amount of the then outstanding
Notes affected thereby; provided, however, that any amendment to or supplement of this Indenture,
the Notes or the Guarantees that by its terms affects the rights of Holders of any series of then
outstanding Notes but not the others series may be effected, and any default or compliance with any
provision of this Indenture affecting the Holders of any series of then outstanding Notes but not
the other series may be waived, with the consent of at least a majority in principal amount of the
Notes of the affected series.

     Without the consent of each Holder of Notes that is affected thereby, an amendment or waiver
under this Section 9.02 may not:

     (i) reduce the principal amount of Notes of any series the Holders of which must
consent to an amendment, supplement or waiver of any provision of this Indenture;

     (ii) reduce the rate of or extend the time for payment of interest on any series of
Notes;

     (iii) reduce the principal of or change the stated maturity of any series of Notes;

     (iv) change the date on which any Note of any of series may be subject to redemption,
or reduce the redemption price therefor;

     (v) make any Note of any series payable in currency other than that stated in the Note;

     (vi) modify or change any provision of this Indenture affecting the ranking of the
Notes of any series in a manner which adversely affects the Holders thereof;

     (vii) impair the right of any Holder of Notes to institute suit for the enforcement of
any payment in or with respect to any such series of Notes;

     (viii) modify or change any provision of any Guarantee in a manner which adversely
affects the Holders of any series of Notes; or

     (ix) make any change in the foregoing amendment and waiver provisions which require
each Holder’s consent.

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

     After an amendment or waiver under this Section 9.02 becomes effective, the Company shall mail
to Holders affected thereby a notice briefly describing the amendment or waiver. Any failure of
the Company to mail such notice, or any defect therein, shall not, however, in any way impair or
affect the validity of any such amended or supplemental indenture or waiver.

51

 

     SECTION 9.03. Compliance with Trust Indenture Act.

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

     SECTION 9.04. Revocation and Effect of Consents.

     Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a
continuing consent by the Holder and every subsequent Holder of a Note or portion of a Note that
evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not
made on any Note; provided, however, that unless a record date shall have been established pursuant
to Section 2.17 hereof, any such Holder or subsequent Holder may revoke the consent as to its Note
or portion of a Note if the Trustee receives written notice of revocation before the date the
amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes
effective on receipt by the Trustee of consents from the Holders of the requisite percentage
principal amount of the outstanding Notes, and thereafter shall bind every Holder of Notes;
provided, however, if the amendment, supplement or waiver makes a change described in any of the
clauses (i) through (ix) of Section 9.02 hereof, the amendment, supplement or waiver shall bind
only each Holder of a Note which has consented to it and every subsequent Holder of a Note or
portion of a Note that evidences the same indebtedness as the consenting Holder’s Note.

     SECTION 9.05. Notation on or Exchange of Notes.

     If an amendment, supplement or waiver changes the terms of a Note:

     (a) the Trustee may require the Holder of a Note to deliver such Note to the Trustee,
the Trustee may place an appropriate notation on the Note about the changed terms and return
it to the Holder and the Trustee may place an appropriate notation on any Note thereafter
authenticated; or

     (b) if the Company or the Trustee so determines, the Company in exchange for the Note
shall issue and the Trustee shall authenticate a new Note that reflects the changed terms.

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

     SECTION 9.06. Trustee to Sign Amendment, etc.

     The Trustee shall sign any amendment authorized pursuant to this Article IX if the amendment
does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it
does, the Trustee may but need not sign it. In signing or refusing to sign such amendment, the
Trustee shall be provided with and shall be fully protected in relying upon an Officers’
Certificate and an Opinion of Counsel as conclusive evidence that such amendment is authorized or
permitted by this Indenture.

52

 

ARTICLE X

GUARANTEES

     SECTION 10.01. Guarantees.

     (a) Subject to the provisions of this Article X, each Guarantor, jointly and severally,
irrevocably and unconditionally guarantees to each Holder of Notes and to the Trustee on behalf of
the Holders:

     (i) the due and punctual payment in full of principal of and interest on the Notes when
due, whether at stated maturity, upon acceleration, redemption or otherwise;

     (ii) the due and punctual payment in full of interest on the overdue principal of and,
to the extent permitted by law, interest on the Notes; and

     (iii) the due and punctual payment of all other Obligations of the Company and the
other Guarantors to the Holders or the Trustee hereunder or under the Notes, including,
without limitation, the payment of fees, expenses, indemnification or other amounts.

In case of the failure of the Company punctually to make any such principal or interest payment or
the failure of the Company or any other Guarantor to pay any such other Obligation, each Guarantor
agrees to cause any such payment to be made punctually when due, whether at stated maturity, upon
acceleration, redemption or otherwise, and as if such payment were made by the Company and to
perform any such other Obligation of the Company immediately. Each Guarantor further agrees to pay
any and all expenses (including reasonable counsel fees and expenses) incurred by the Trustee or
the Holders in enforcing any rights under these Guarantees. The Guarantees under this Article X
are guarantees of payment and not of collection.

     (b) Each of the Company and the Guarantors waives diligence, presentment, demand of payment,
filing of claims with a court in the event of merger, insolvency or bankruptcy of the Company or
any other Guarantor, any right to require a proceeding first against the Company or any other
Guarantor, protest or notice with respect to the Notes and all demands whatsoever, and covenants
that these Guarantees shall not be discharged except by complete performance of the Obligations
contained in the Notes and in this Indenture, or as otherwise specifically provided therein or
herein.

     (c) Each Guarantor waives and relinquishes:

     (i) any right to require the Trustee, the Holders or the Company (each, a “Benefited
Party”) to proceed against the Company, the Subsidiaries of the Company or any other Person
or to proceed against or exhaust any security held by a Benefited Party at any time or to
pursue any other remedy in any secured party’s power before proceeding against the
Guarantors;

     (ii) any defense that may arise by reason of the incapacity, lack of authority, death
or disability of any other Person or Persons or the failure of a Benefited Party to

53

 

file or enforce a claim against the estate (in administration, bankruptcy or any other
proceeding) of any other Person or Persons;

     (iii) demand, protest and notice of any kind (except as expressly required by this
Indenture), including, but not limited to, notice of the existence, creation or incurrence
of any new or additional indebtedness or obligation or of any action or non-action on the
part of the Guarantors, the Company, the Subsidiaries of the Company, any Benefited Party,
any creditor of the Guarantors, the Company or the Subsidiaries of the Company or on the
part of any other Person whomsoever in connection with any obligations the performance of
which are hereby guaranteed;

     (iv) any defense based upon an election of remedies by a Benefited Party, including but
not limited to an election to proceed against the Guarantors for reimbursement;

     (v) any defense based upon any statute or rule of law which provides that the
obligation of a surety must be neither larger in amount nor in other respects more
burdensome than that of the principal;

     (vi) any defense arising because of a Benefited Party’s election, in any proceeding
instituted under the Bankruptcy Law, of the application of Section 1111(b)(2) of the
Bankruptcy Law; and

     (vii) any defense based on any borrowing or grant of a security interest under Section
364 of the Bankruptcy Law.

     (d) Each Guarantor further agrees that, as between such Guarantor, on the one hand, and
Holders and the Trustee, on the other hand:

     (i) for purposes of the relevant Guarantee, the maturity of the Obligations Guaranteed
by such Guarantee may be accelerated as provided in Article VI, notwithstanding any stay,
injunction or other prohibition preventing such acceleration in respect of the Obligations
guaranteed thereby, and

     (ii) in the event of any acceleration of such Obligations (whether or not due and
payable) such Obligations shall forthwith become due and payable by such Guarantor for
purposes of such Guarantee.

     (e) The Guarantees shall continue to be effective or shall be reinstated, as the case may be,
if at any time any payment, or any part thereof, of principal of or interest on any of the Notes is
rescinded or must otherwise be returned by the Holders or the Trustee upon the insolvency,
bankruptcy or reorganization of the Company or any of the Guarantors, all as though such payment
had not been made.

     (f) Each Guarantor shall be subrogated to all rights of the Holders against the Company in
respect of any amounts paid by such Guarantor pursuant to the provisions of the Guarantees or this
Indenture; provided, however, that a Guarantor shall not be entitled to enforce

54

 

or to receive any payments until the principal of and interest on all Notes issued hereunder
shall have been paid in full.

     SECTION 10.02. Obligations of Guarantors Unconditional.

     Each Guarantor agrees that its Obligations hereunder shall be Guarantees of payment and shall
be unconditional, irrespective of and unaffected by the validity, regularity or enforceability of
the Notes or this Indenture, or of any amendment thereto or hereto, the absence of any action to
enforce the same, the waiver or consent by any Holder or by the Trustee with respect to any
provisions thereof or of this Indenture, the entry of any judgment against the Company or any other
Guarantor or any action to enforce the same or any other circumstance which might otherwise
constitute a legal or equitable discharge or defense of a guarantor.

     SECTION 10.03. Limitation on Guarantors’ Liability.

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

     SECTION 10.04. Releases of Guarantees.

     (a) If the Notes are defeased in accordance with the terms of Article VIII of this Indenture,
then each Guarantor shall be deemed to have been released from and discharged of its obligations
under its Guarantee as provided in Article VIII hereof in respect of such Notes, subject to the
conditions stated therein.

     (b) In the event an entity that is a Guarantor ceases to be a guarantor under the Senior
Credit Facilities and the Existing Senior Notes, such entity shall also cease to be a Guarantor,
whether or not a Default or an Event of Default is then outstanding, subject to reinstatement as a
Guarantor in the event that such entity should thereafter become a Guarantor under our Senior
Credit Facilities or the Existing Senior Notes. In connection with any Guarantor ceasing to be a
Guarantor hereunder, the Company shall deliver to the Trustee an Officers’ Certificate certifying
that a Guarantor has ceased to be a guarantor under the Senior Credit Facilities (or will cease to
be a guarantor concurrently with it ceasing to be a Guarantor). Upon delivery to the Trustee of
such Officers’ Certificate, upon the request of the Company, the Trustee shall execute proper
documents acknowledging the release of such Guarantor from its obligations under the Indenture and
the Notes, effective upon the Guarantor ceasing to be a guarantor under the Senior Credit
Facilities.

55

 

     (c) Any Guarantor not released from its obligations under its Guarantee shall remain liable
for the full amount of principal of and interest on the Notes and for the other obligations of the
Company, such Guarantor and any other Guarantor under this Indenture as provided in this Article X.

     SECTION 10.05. Application of Certain Terms and Provisions to Guarantors.

     (a) For purposes of any provision of this Indenture that provides for the delivery by any
Guarantor of an Officers’ Certificate or an Opinion of Counsel or both, the definitions of such
terms in Section 1.01 hereof shall apply to such Guarantor as if references therein to the Company
were references to such Guarantor.

     (b) Any request, direction, order or demand which by any provision of this Indenture is to be
made by any Guarantor shall be sufficient if evidenced by a written order of the Guarantor signed
by one Officer of such Guarantor.

     (c) 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 to or on any Guarantor may be given or served
as described in Section 11.02 hereof.

     (d) Upon any demand, request or application by any Guarantor to the Trustee to take any action
under this Indenture, such Guarantor shall furnish to the Trustee such certificates and opinions as
are required in Section 7.02 hereof as if all references therein to the Company were references to
such Guarantor.

     SECTION 10.06. Additional Guarantors.

     The Company shall cause each subsidiary of the Company that becomes a guarantor under the
Senior Credit Facilities (including any subsidiary that may have been formerly released as a
Guarantor pursuant to Section 10.04) or the Existing Senior Notes, after the Issue Date, to execute
and deliver to the Trustee, promptly upon any such formation or acquisition:

     (i) a supplemental indenture in form and substance satisfactory to the Trustee which
subjects such subsidiary to the provisions of this Indenture as a Guarantor, and

     (ii) an Opinion of Counsel to the effect that such supplemental indenture has been duly
authorized and executed by such subsidiary and constitutes the legally valid and binding
obligation of such subsidiary (subject to exceptions concerning fraudulent conveyance laws,
creditors’ rights and equitable principles and other customary exceptions as may be
acceptable to the Trustee in its discretion).

56

 

ARTICLE XI

MISCELLANEOUS

     SECTION 11.01. Trust Indenture Act Controls.

     This Indenture is subject to the provisions of the TIA which are required to be part of this
Indenture, and shall, to the extent applicable, be governed by such provisions.

     SECTION 11.02. Notices.

     Any notice or communication to the Company, the Guarantors or the Trustee is duly given if in
writing and delivered in person or mailed by first-class mail to the address set forth below:

     If to the Company or any Guarantor, addressed to the Company or such Guarantor:

Lear Corporation

21557 Telegraph Road

Southfield, Michigan 48086-5008

Attention: Chief Financial Officer

     with a copy to:

Winston & Strawn LLP

35 West Wacker Drive

Chicago, Illinois 60601

Attention: Bruce A. Toth, Esq.

     If to the Trustee:

The Bank of New York Trust Company, N.A.

2 North LaSalle Street, Suite 1020

Chicago, IL 60602

Fax: 312-827-8542

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

     Any notice or communication to a Holder shall be mailed by first-class mail to his address
shown on the Register kept by the 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, whether or not the addressee receives it, except that notice to the
Trustee shall only be effective upon receipt thereof by the Trustee.

57

 

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

     SECTION 11.03. Communication by Holders with Other Holders.

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

     SECTION 11.04. Certificate and Opinion as to Conditions Precedent.

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

     (i) an Officers’ Certificate (which shall include the statements set forth in Section
11.05 hereof) stating that, in the opinion of the signers, all conditions precedent and
covenants, if any, provided for in this Indenture relating to the proposed action have been
complied with; and

     (ii) an Opinion of Counsel (which shall include the statements set forth in Section
11.05 hereof) stating that, in the opinion of such counsel, all such conditions precedent
and covenants have been complied with.

     SECTION 11.05. Statements Required in Certificate or Opinion.

     Each certificate (other than certificates provided pursuant to Section 4.04 hereof) or opinion
with respect to compliance with a condition or covenant provided for in this Indenture shall
include:

     (i) a statement that each individual signing such certificate or opinion has read such
covenant or condition;

     (ii) 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;

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

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

58

 

     SECTION 11.06. Rules by Trustee and Agents.

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

     SECTION 11.07. Legal Holidays.

     A “Legal Holiday” is a Saturday, a Sunday or a day on which banking institutions in The City
of New York are not required or authorized to be open. If a payment date is a Legal Holiday at a
place of payment, payment may be made at that place on the next succeeding day that is not a Legal
Holiday, and no interest shall accrue for the intervening period.

     SECTION 11.08. Duplicate Originals. The parties may sign any number of copies of this
Indenture. One signed copy is enough to prove this Indenture.

     SECTION 11.09. Governing Law.

     This Indenture, the Notes and the Guarantees shall be governed by, and construed in accordance
with, the laws of the State of New York.

     SECTION 11.10. No Adverse Interpretation of Other Agreements.

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

     SECTION 11.11. Successors.

     All agreements of the Company under the Notes and this Indenture and of the Guarantors under
the Guarantees and this Indenture shall bind their respective successors. All agreements of the
Trustee in this Indenture shall bind its successor.

     SECTION 11.12. Severability.

     In case any provision in the Notes or in the Guarantees or in this Indenture is invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby.

     SECTION 11.13. Counterpart Originals.

     This Indenture may be signed in one or more counterparts. Each signed copy shall be an
original, but all of them together represent the same agreement.

59

 

     SECTION 11.14. Submission to Jurisdiction.

     By the execution and delivery of this Indenture, the Company and each of the Guarantors
submits to the nonexclusive jurisdiction of any federal or state court in the State of New York
with respect to all matters related to this Indenture, the Notes and the Guarantees.

     SECTION 11.15. Waiver of Jury Trial.

     EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY.

     SECTION 11.16. Force Majeure.

     In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts
of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services; it being understood that the Trustee shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as
practicable under the circumstances.

60

 

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

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	LEAR CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Daniel A. Ninivaggi	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Daniel A. Ninivaggi	 	 
	 	 	Title: Executive V.P., Secretary and General Counsel	 	 
	 
	 	 	 	 	 	 
	 	 	LEAR OPERATIONS CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Daniel A. Ninivaggi	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Daniel A. Ninivaggi	 	 
	 	 	Title: V.P., Secretary and General Counsel	 	 
	 
	 	 	 	 	 	 
	 	 	LEAR SEATING HOLDINGS CORP. #50	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Daniel A. Ninivaggi	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Daniel A. Ninivaggi	 	 
	 	 	Title: Secretary and General Counsel	 	 
	 
	 	 	 	 	 	 
	 	 	LEAR CORPORATION EEDS AND INTERIORS	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Daniel A. Ninivaggi	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Daniel A. Ninivaggi	 	 
	 	 	Title: V.P. and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	LEAR AUTOMOTIVE DEARBORN, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Daniel A. Ninivaggi	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Daniel A. Ninivaggi	 	 
	 	 	Title: V.P. and Secretary	 	 

61

 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	LEAR CORPORATION (GERMANY) LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Daniel A. Ninivaggi	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Daniel A. Ninivaggi	 	 
	 	 	Title: V.P. and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	LEAR AUTOMOTIVE (EEDS) SPAIN S.L.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Daniel A. Ninivaggi	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Daniel A. Ninivaggi	 	 
	 	 	Title: Attorney-In-Fact	 	 
	 
	 	 	 	 	 	 
	 	 	LEAR CORPORATION MEXICO, S. DE R.L. DE	 	 
	 

	 	C.V.	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Daniel A. Ninivaggi	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Daniel A. Ninivaggi	 	 
	 	 	Title: Attorney-In-Fact	 	 

62

 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK TRUST	 	 
	 	 	COMPANY, N.A.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	     /s/ Roxane Ellwanger	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Roxane Ellwanger	 	 
	 	 	Title: Assistant Vice President	 	 

63

 

EXHIBIT A-1

[Form of Note]

[FACE OF NOTE]

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (“DTC”) TO LEAR CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.1

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY
INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION.

     THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE
TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) WHICH IS TWO
YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR
ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY),
ONLY (A) TO THE COMPANY OR ANY OF ITS SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT THAT
HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT
REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR
ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT
THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S.
PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE
SECURITIES ACT, (E) TO AN “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR
(7) UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY
FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL

 

			
	1	 	This legend should be included only if the Note is
issued in global form.

A-1-1

 

ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000,
FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY
DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE
TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY
TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE
RESTRICTION TERMINATION DATE.2

 

			
	2	 	This legend should be included only as set forth
in Section 2.02(a) of the Indenture.

A-1-2

 

LEAR CORPORATION

8 1/2% [Series B]3 Senior Note due 2013

CUSIP                    

			
	 	 	 
	No.                     
	 	$                    

     LEAR CORPORATION, a Delaware corporation (the “Company”, which term includes any successor
under the Indenture hereinafter referred to), for value received, promises to pay to
                                        , or its registered assigns, the principal sum of                                  
        U.S.
Dollars ($                    ) on [                    , 20___].

Interest Payment Dates: June 1 and December 1, commencing June 1, 2007

Regular Record Dates: May 15 and November 15

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set forth at this place.

 

			
	3	 	Include only for the Exchange Notes.

A-1-3

 

     IN WITNESS WHEREOF, the Company has caused this Note to be executed manually or by facsimile
by its duly authorized officers.

	 	 	 	 	 	 	 
	Dated:	 	LEAR CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name:	 	 
	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name:	 	 
	 	 	Title:	 	 

Trustee’s Certificate of Authentication

This is one of the 8 1/2% Senior Notes due 2013

THE BANK OF NEW YORK TRUST COMPANY, N.A.

as Trustee

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 
	 
	 	 	 	 
	Date:	 	 

A-1-4

 

[REVERSE SIDE OF NOTE]

LEAR CORPORATION

8 1/2% [Series B]4 Senior Note due 2013

     Capitalized terms used herein but not defined shall have the meanings assigned to them in the
Indenture referred to below unless otherwise indicated.

1. Principal and Interest.

     Lear Corporation, a Delaware corporation (the “Company”) promises to pay interest on the
principal amount of this Note at a rate of 8 1/2% per annum from the date of issuance until
repayment at maturity or redemption. The Company will pay interest semiannually on June 1 and
December 1 of each year (each, an “Interest Payment Date”), commencing June 1, 2007. Interest on
the Notes will accrue from the most recent date to which interest has been paid or, if no interest
has been paid, from the Issue Date. Interest will be computed on the basis of a 360-day year of
twelve 30-day months.

     The Company shall pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand, to the
extent permitted by law, at the rate borne by this Note; it shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest (without regard to any applicable grace periods) from time to time on demand at the same
rate to the extent permitted by law.

2. Method of Payment.

     The Company will pay interest on the Notes (except defaulted interest) to the Persons who are
registered Holders of Notes at the close of business on the May 15 or November 15 next preceding
the Interest Payment Date, even if such Notes are canceled after such record date and on or before
such Interest Payment Date, except as provided in Section 2.16 of the Indenture with respect to
defaulted interest. The Notes will be payable as to principal, premium and interest at the office
or agency of the Company maintained for such purpose within or without the City and State of New
York, or, at the option of the Company, payment of interest may be made by check mailed to the
Holders at their addresses set forth in the register of Holders, and provided that payment by wire
transfer of immediately available funds will be required with respect to principal of and interest
and premium on, all Global Notes and all other Notes the Holders of which shall have provided wire
transfer instructions to the Company or the Paying Agent. Such payment shall be in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts.

 

			
	4	 	Include only for the Exchange Notes.

A-1-5

 

3. Paying Agent and Registrar.

     Initially, The Bank of New York Trust Company, N.A., the Trustee under the Indenture, will act
as Paying Agent and the Registrar. The Company may change the Paying Agent or transfer agent
without notice to any Holder. The Company, any Subsidiary of the Company or any Affiliate of any
of them may act as a Paying Agent or a transfer agent, subject to certain limitations.

4. Indenture.

     The Company issued the Notes under an Indenture dated as of November 24, 2006 (the
“Indenture”), among the Company, the Guarantors and The Bank of New York Trust Company, N.A., as
trustee (the “Trustee”). The terms of the Notes include those stated in the Indenture and those
made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (“TIA”).
The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for
a statement of all such terms. To the extent permitted by applicable law, in the event of any
inconsistency between the terms of this Note and the terms of the Indenture, the terms of the
Indenture shall control.

5. Repurchase at Option of Holder

     (a) If there is a Change of Control, the Company shall be required to make an offer (a “Change
of Control Offer”) to repurchase all or any part of each Holder’s Notes at a purchase price (the
“Change of Control Purchase Price”) equal to 101% of the principal amount thereof, plus accrued and
unpaid interest, including Additional Interest, if any, to the repurchase date. Within 30 days
following any Change of Control, the Company shall mail a notice to each Holder setting forth the
procedures governing the Change of Control Offer as required by the Indenture.

6. Optional Redemption.

(a) Except as set forth in clause (b) of this paragraph 6, the Notes shall not be redeemable at the
option of the Company prior to December 1, 2010. Beginning on December 1, 2010, the Company may
redeem all or a portion of the Notes at once or over time, after giving the notice required under
the Indenture at the redemption prices (expressed as percentages of principal amount) set forth
below, plus accrued and unpaid interest and Additional Interest, if any, on the Notes redeemed to
the applicable redemption date (subject to the right of Holders of record on the relevant Regular
Record Date to receive interest due on the relevant Interest Payment Date), if redeemed during the
twelve-month period commencing on December 1 of the years indicated below:

	 	 	 	 	 
	Year	 	Percentage
	2010
	 	 	104.250	%
	2011
	 	 	102.125	%
	2012 and thereafter
	 	 	100.000	%

     (b) Prior to December 1, 2010, the Company may, at its option, redeem the Notes, in whole or
in part, at any time at a redemption price equal to the greater of (i) 100% of the

A-1-6

 

principal amount of the Notes being redeemed; or (ii) the sum of the present values of (a) the
redemption price of the Notes at December 1, 2010 (such redemption prices being set forth in the
applicable table above) plus (b) all required interest payments due on the Notes through December
1, 2010 (excluding accrued but unpaid interest) discounted to the redemption date on a semiannual
basis (assuming a 360-day year consisting of 12 months of 30 days each) at the Treasury Rate plus
50 basis points, in each case, together with any interest accrued but not paid to the date of
redemption.

     Notes in original denominations larger than $1,000 may be redeemed in part. On and after the
Redemption Date, interest ceases to accrue on Notes or portions of Notes called for redemption,
unless the Company defaults in the payment of the Redemption Price.

7. Mandatory Redemption

     The Company shall not be required to make mandatory redemption or sinking fund payments with
respect to the Notes.

8. Denominations; Transfer; Exchange.

     The Notes are in registered form without coupons in denominations of $1,000 of principal
amount and integral multiples of $1,000 in excess thereof. A Holder may register the transfer or
exchange of Notes in accordance with the Indenture. The Registrar may require a Holder, among
other things, to furnish appropriate endorsements and transfer documents and the Company may
require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The
Registrar need not register the transfer or exchange of any Notes selected for redemption. Also,
it need not register the transfer or exchange of any Notes for a period beginning at the opening of
business 15 Business Days before the day of any selection of Notes for redemption under Section
3.02 of the Indenture and ending at the close of business on the day of selection.

9. Persons Deemed Owners.

     The registered Holder of a Note shall be treated as its owner for all purposes.

10. Unclaimed Money.

     If money for the payment of principal, premium, if any, or interest remains unclaimed for two
years, the Trustee and the Paying Agent will pay the money back to the Company at its request.
After that, Holders entitled to the money must look to the Company for payment, unless an abandoned
property law designates another Person, and all liability of the Trustee and such Paying Agent with
respect to such money shall cease.

11. Amendment; Supplement; Waiver.

     Subject to certain exceptions, the Indenture, the Notes and the Guarantees may be amended or
supplemented with the consent of the Holders of at least a majority in principal amount of the
Notes then outstanding, and any existing Default or Event of Default or compliance with any
provision of the Indenture or the Notes may be waived with the consent of

A-1-7

 

the Holders of at least a majority in principal amount of the Notes then outstanding. Without
notice to or the consent of any Holder, the parties thereto may amend or supplement the Indenture,
the Notes or the Guarantees to, among other things, cure any ambiguity, defect or inconsistency and
make any change that does not materially and adversely affect the rights of any Holder.

12. Restrictive Covenants.

     The Indenture imposes certain limitations on the ability of the Company and its Restricted
Subsidiaries, among other things, to create liens and engage in sale and lease-back transactions.
In addition, the Indenture imposes certain limitations on the ability of the Company to engage in
mergers and consolidations or transfers of all or substantially all of its assets. The Indenture
requires the Company to deliver to the Trustee an Officers’ Certificate within 120 days after the
end of each fiscal year stating whether or not the signers thereof know of any Default or Event of
Default under such restrictive covenants.

13. Defaults and Remedies.

     The Indenture provides that each of the following events constitutes an Event of Default with
respect to this Note: (i) failure to pay principal of any Note when it becomes due and payable at
stated maturity, upon acceleration, redemption or otherwise; (ii) failure to pay interest on any
Note when it becomes due and payable and such Default continues for a period of 30 days; (iii)
failure to comply with any of the other agreements or covenants in, or other provisions of, the
Indenture, which failure is not cured within 60 days after notice is given as specified in the
Indenture; (iv) any Guarantee ceases to be in full force and effect or any Guarantor denies or
disaffirms its obligations under its Guarantee, except, in each case, in connection with a release
of a Guarantee in accordance with the terms of this Indenture; (v) the nonpayment at maturity or
other default (beyond any applicable grace period) under any agreement or instrument relating to
any other Indebtedness of the Company or any of its Significant Subsidiaries (the unpaid principal
amount of which is not less than $50 million), which default results in the acceleration of the
maturity of such Indebtedness prior to its stated maturity or occurs at the final maturity thereof
and such acceleration has not been rescinded or annulled or such Indebtedness repaid within 30 days
after notice is given as specified in the Indenture; and (vi) certain events of bankruptcy,
insolvency or reorganization of the Company or any Significant Subsidiary.

     If an Event of Default occurs and is continuing, the principal amount hereof may be declared
due and payable in the manner and with the effect provided in the Indenture.

14. Trustee Dealings with the Company.

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

15. No Recourse Against Others.

     A director, officer, employee, agent, manager, controlling person, stockholder, incorporator
or other Affiliate of the Company, as such, shall not have any liability for any

A-1-8

 

obligations of the Company under the Notes or the Indenture or for any claim based on, in
respect of or by reason of, such obligations or their creation. Each Holder by accepting a Note
waives and releases all such liability. The waiver and release are part of the consideration for
the issuance of the Notes.

16. Authentication.

     This Note shall not be valid until the Trustee (or authenticating agent) executes the
certificate of authentication on the other side of this Note.

17. Abbreviations.

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

18. Additional Rights of Holders of Transfer Restricted Securities.

     In addition to the rights provided to Holders under the Indenture, Holders of Transfer
Restricted Securities shall have all the rights set forth in the Registration Rights Agreement.

19. CUSIP Numbers.

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

20. Governing Law.

     This Note shall be governed by, and construed in accordance with, the laws of the State of New
York.

A-1-9

 

ASSIGNMENT FORM

To assign this Note, fill in the form below and have your signature guaranteed: (I) or (we) assign

and transfer this Note to:

 

(Insert assignee’s soc. sec. or tax I.D. no.)

 

 

 

 

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

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

	 	 	 	 	 	 	 	 	 	 	 
	Dated:

	 	 	 	 	 	Your Name:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 
	 	 	 	 	 	 	(Print your name exactly as it appears on the face of
this Note)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Your Signature:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

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

	 	 	 	 	 	Signature Guarantee:*	 	 	 	 
	 

	 	 	 	 	 	 	 	 

	 	 

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other
signature guarantor acceptable to the Trustee).

A-1-10

 

 

Option of Holder to Elect Purchase 

     If you want to elect to have this Note or a portion of this Note purchased by the Company
pursuant to Section 4.09 of the Indenture, state the amount you elect to have purchased:

$                    

	 	 	 	 	 
	Date:
	 	 	 	 
	 

	 	 

	 	 

	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Your Signature:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

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

	 	 	 	 	 	Tax Identification No.:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

	 	 

	 	 	 	 	 
	Signature Guarantee*:
	 	 	 	 
	 

	 	 

	 	 

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature
guarantor acceptable to the Trustee).

A-1-11

 

 

[THE FOLLOWING PROVISION TO BE INCLUDED ON ALL NOTES OTHER THAN

EXCHANGE NOTES, REGULATION S GLOBAL NOTES AND UNLEGENDED

REGULATION S PHYSICAL NOTES]

In connection with any transfer of this Note occurring prior to the date which is the earlier of
the end of the period referred to in Rule 144(k) under the Securities Act, the undersigned confirms
that without utilizing any general solicitation or general advertising that:

[Check One]

			
	[ ] (a)	 	this Note is being transferred in compliance with the
exemption from registration under the Securities Act of
1933 provided by Rule 144A thereunder.

or

			
	[ ] (b)	 	this Note is being transferred other than in accordance
with (a) above and documents are being furnished which
comply with the conditions of transfer set forth in this
Note and the Indenture.

If none of the foregoing boxes is checked, the Trustee or other Registrar shall not be obligated to
register this Note in the name of any Person other than the Holder hereof unless and until the
conditions to any such transfer of registration set forth herein and in Section 2.09 of the
Indenture shall have been satisfied.

	 	 	 	 	 
	Date:
	 	 	 	 
	 

	 	 

	 	 

	 	 	 	 	 
	 

	 	NOTICE: The signature to this assignment must
correspond with the name as written upon the face of
the within-mentioned instrument in every particular,
without alteration or any change whatsoever.	 	 
	 
	 	 	 	 
	 

	 	Signature Guarantee:	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	Signature must be guaranteed by a participant in a
recognized signature guaranty medallion program or
other signature guarantor acceptable to the Trustee.	 	 

A-1-12

 

 

TO BE COMPLETED BY PURCHASER IF (a) ABOVE IS CHECKED.

     The undersigned represents and warrants that it is purchasing this Note for its own
account or an account with respect to which it exercises sole investment discretion, in each case
for investment and not with a view to distribution, and that it and any such account is a
“Qualified Institutional Buyer” within the meaning of Rule 144A under the Securities Act of 1933
and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it
has received such information regarding the Company as the undersigned has requested pursuant to
Rule 144A or has determined not to request such information and that it is aware that the
transferor is relying upon the undersigned’s foregoing representations in order to claim the
exemption from registration provided by Rule 144A.

	 	 	 	 	 	 	 	 	 
	Date:
	 	 	 	 	 	 	 	 
	 

	 	 

	 	 
	 	 

	 	 
	 

	 	 	 	 	 	NOTICE: To be executed by an executive officer	 	 

A-1-13

 

 

SCHEDULE OF ADJUSTMENTS5

Initial Principal Amount: U.S.$

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Principal	 	 
	Date	 	Principal	 	 	 	 	 	amount	 	Notation made on
	adjustment	 	amount	 	Principal amount	 	following	 	behalf of the
	made	 	increase	 	decrease	 	adjustment	 	Registrar
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

			
	5	 	This schedule should be included only if the Note is issued in global form.

A-1-14

 

 

EXHIBIT A-2

[Form of Note]

[FACE OF NOTE]

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (“DTC”) TO LEAR CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE
THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.6

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY
INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, SUCH REGISTRATION.

     THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE
TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) WHICH IS TWO
YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR
ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY),
ONLY (A) TO THE COMPANY OR ANY OF ITS SUBSIDIARIES, (B) PURSUANT TO A REGISTRATION STATEMENT THAT
HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT
REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR
ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT
THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S.
PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE
SECURITIES ACT, (E) TO AN
 “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE
SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN
ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL

 

			
	6	 	This legend should be included only if the Note is
issued in global form.

A-2-1

 

 

ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM
PRINCIPAL AMOUNT OF THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR
FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F)
PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT,
SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT
TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR
OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF
THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.7

 

			
	7	 	This legend should be included only as set forth
in Section 2.02(a) of the Indenture.

A-2-2

 

 

LEAR CORPORATION

8 3/4%
[Series B]8 Senior Note due 2016

CUSIP
                     

	 	 	 
	No.
                     

	 	$                    

     LEAR CORPORATION, a Delaware corporation (the “Company”, which term includes any
successor under the Indenture hereinafter referred to), for value received, promises to pay to
                                        , or its registered assigns, the principal sum of                                  
        U.S.
Dollars ($                    ) on [                    , 20___].

Interest Payment Dates: June 1 and December 1, commencing June 1, 2007

Regular Record Dates: May 15 and November 15

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof,
which further provisions shall for all purposes have the same effect as if set forth at this place.

 

			
	8	 	Include only for the Exchange Notes.

A-2-3

 

 

          IN WITNESS WHEREOF, the Company has caused this Note to be executed manually or by
facsimile by its duly authorized officers.

	 	 	 	 	 	 	 
	Dated:	 	LEAR CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 	 	Name:	 	 
	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 	 	Name:	 	 
	 	 	Title:	 	 

Trustee’s Certificate of Authentication

This is one of the 8 3/4% Senior Notes due 2016

THE BANK OF NEW YORK TRUST COMPANY, N.A.
as Trustee

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

Date:

A-2-4

 

[REVERSE SIDE OF NOTE]

LEAR CORPORATION

8 3/4%
[Series B]9 Senior Note due 2016

          Capitalized terms used herein but not defined shall have the meanings assigned to them in the
Indenture referred to below unless otherwise indicated.

1. Principal and Interest.

          Lear Corporation, a Delaware corporation (the “Company”) promises to pay interest on the
principal amount of this Note at a rate of 8 3/4% per annum from the date of issuance until
repayment at maturity or redemption. The Company will pay interest semiannually on June 1 and
December 1 of each year (each, an “Interest Payment Date”), commencing June 1, 2007. Interest on
the Notes will accrue from the most recent date to which interest has been paid or, if no interest
has been paid, from the Issue Date. Interest will be computed on the basis of a 360-day year of
twelve 30-day months.

          The Company shall pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand, to the
extent permitted by law, at the rate borne by this Note; it shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest (without regard to any applicable grace periods) from time to time on demand at the same
rate to the extent permitted by law.

2. Method of Payment.

          The Company will pay interest on the Notes (except defaulted interest) to the Persons who are
registered Holders of Notes at the close of business on the May 15 or November 15 next preceding
the Interest Payment Date, even if such Notes are canceled after such record date and on or before
such Interest Payment Date, except as provided in Section 2.16 of the Indenture with respect to
defaulted interest. The Notes will be payable as to principal, premium and interest at the office
or agency of the Company maintained for such purpose within or without the City and State of New
York, or, at the option of the Company, payment of interest may be made by check mailed to the
Holders at their addresses set forth in the register of Holders, and provided that payment by wire
transfer of immediately available funds will be required with respect to principal of and interest
and premium on, all Global Notes and all other Notes the Holders of which shall have provided wire
transfer instructions to the Company or the Paying Agent. Such payment shall be in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of
public and private debts.

 

			
	9	 	Include only for the Exchange Notes.

A-2-5

 

3. Paying Agent and Registrar.

          Initially, The Bank of New York Trust Company, N.A., the Trustee under the Indenture, will act
as Paying Agent and the Registrar. The Company may change the Paying Agent or transfer agent
without notice to any Holder. The Company, any Subsidiary of the Company or any Affiliate of any
of them may act as a Paying Agent or a transfer agent, subject to certain limitations.

4. Indenture.

          The
Company issued the Notes under an Indenture dated as of November 24, 2006 (the
“Indenture”), among the Company, the Guarantors and The Bank of New York Trust Company, N.A., as
trustee (the “Trustee”). The terms of the Notes include those stated in the Indenture and those
made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (“TIA”).
The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for
a statement of all such terms. To the extent permitted by applicable law, in the event of any
inconsistency between the terms of this Note and the terms of the Indenture, the terms of the
Indenture shall control.

5. Repurchase at Option of Holder

          (a) If there is a Change of Control, the Company shall be required to make an offer (a “Change
of Control Offer”) to repurchase all or any part of each Holder’s Notes at a purchase price (the
“Change of Control Purchase Price”) equal to 101% of the principal amount thereof, plus accrued and
unpaid interest, including Additional Interest, if any, to the repurchase date. Within 30 days
following any Change of Control, the Company shall mail a notice to each Holder setting forth the
procedures governing the Change of Control Offer as required by the Indenture.

6. Optional Redemption.

          (a) Except as set forth in clause (b) of this paragraph 6, the Notes shall not be redeemable
at the option of the Company prior to December 1, 2011. Beginning on December 1, 2011, the Company
may redeem all or a portion of the Notes at once or over time, after giving the notice required
under the Indenture at the redemption prices (expressed as percentages of principal amount) set
forth below, plus accrued and unpaid interest and Additional Interest, if any, on the Notes
redeemed to the applicable redemption date (subject to the right of Holders of record on the
relevant Regular Record Date to receive interest due on the relevant Interest Payment Date), if
redeemed during the twelve-month period commencing on December 1 of the years indicated below:

	 	 	 	 	 
	Year	 	Percentage
	2011
	 	 	104.375	%
	2012
	 	 	102.917	%
	2013
	 	 	101.458	%
	2014 and thereafter
	 	 	100.000	%

          (b) Prior to December 1, 2011, the Company may, at its option, redeem the Notes, in whole or
in part, at any time at a redemption price equal to the greater of (i) 100% of the

A-2-6

 

principal amount of the Notes being redeemed; or (ii) the sum of the present values of (a) the
redemption price of the Notes at December 1, 2011 (such redemption prices being set forth in the
applicable table above) plus (b) all required interest payments due on the Notes through December
1, 2011 (excluding accrued but unpaid interest) discounted to the redemption date on a semiannual
basis (assuming a 360-day year consisting of 12 months of 30 days each) at the Treasury Rate plus
50 basis points, in each case, together with any interest accrued but not paid to the date of
redemption.

          Notes in original denominations larger than $1,000 may be redeemed in part. On and after the
Redemption Date, interest ceases to accrue on Notes or portions of Notes called for redemption,
unless the Company defaults in the payment of the Redemption Price.

7. Mandatory Redemption

          The Company shall not be required to make mandatory redemption or sinking fund payments with
respect to the Notes.

8. Denominations; Transfer; Exchange.

          The Notes are in registered form without coupons in denominations of $1,000 of principal
amount and integral multiples of $1,000 in excess thereof. A Holder may register the transfer or
exchange of Notes in accordance with the Indenture. The Registrar may require a Holder, among
other things, to furnish appropriate endorsements and transfer documents and the Company may
require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The
Registrar need not register the transfer or exchange of any Notes selected for redemption. Also,
it need not register the transfer or exchange of any Notes for a period beginning at the opening of
business 15 Business Days before the day of any selection of Notes for redemption under Section
3.02 of the Indenture and ending at the close of business on the day of selection.

9. Persons Deemed Owners.

          The registered Holder of a Note shall be treated as its owner for all purposes.

10. Unclaimed Money.

          If money for the payment of principal, premium, if any, or interest remains unclaimed for two
years, the Trustee and the Paying Agent will pay the money back to the Company at its request.
After that, Holders entitled to the money must look to the Company for payment, unless an abandoned
property law designates another Person, and all liability of the Trustee and such Paying Agent with
respect to such money shall cease.

11. Amendment; Supplement; Waiver.

          Subject to certain exceptions, the Indenture, the Notes and the Guarantees may be amended or
supplemented with the consent of the Holders of at least a majority in principal amount of the
Notes then outstanding, and any existing Default or Event of Default or compliance with any
provision of the Indenture or the Notes may be waived with the consent of

A-2-7

 

the Holders of at least a majority in principal amount of the Notes then outstanding. Without
notice to or the consent of any Holder, the parties thereto may amend or supplement the Indenture,
the Notes or the Guarantees to, among other things, cure any ambiguity, defect or inconsistency and
make any change that does not materially and adversely affect the rights of any Holder.

12. Restrictive Covenants.

          The Indenture imposes certain limitations on the ability of the Company and its Restricted
Subsidiaries, among other things, to create liens and engage in sale and lease-back transactions.
In addition, the Indenture imposes certain limitations on the ability of the Company to engage in
mergers and consolidations or transfers of all or substantially all of its assets. The Indenture
requires the Company to deliver to the Trustee an Officers’ Certificate within 120 days after the
end of each fiscal year stating whether or not the signers thereof know of any Default or Event of
Default under such restrictive covenants.

13. Defaults and Remedies.

          The Indenture provides that each of the following events constitutes an Event of Default with
respect to this Note: (i) failure to pay principal of any Note when it becomes due and payable at
stated maturity, upon acceleration, redemption or otherwise; (ii) failure to pay interest on any
Note when it becomes due and payable and such Default continues for a period of 30 days; (iii)
failure to comply with any of the other agreements or covenants in, or other provisions of, the
Indenture, which failure is not cured within 60 days after notice is given as specified in the
Indenture; (iv) any Guarantee ceases to be in full force and effect or any Guarantor denies or
disaffirms its obligations under its Guarantee, except, in each case, in connection with a release
of a Guarantee in accordance with the terms of this Indenture; (v) the nonpayment at maturity or
other default (beyond any applicable grace period) under any agreement or instrument relating to
any other Indebtedness of the Company or any of its Significant Subsidiaries (the unpaid principal
amount of which is not less than $50 million), which default results in the acceleration of the
maturity of such Indebtedness prior to its stated maturity or occurs at the final maturity thereof
and such acceleration has not been rescinded or annulled or such Indebtedness repaid within 30 days
after notice is given as specified in the Indenture; and (vi) certain events of bankruptcy,
insolvency or reorganization of the Company or any Significant Subsidiary.

          If an Event of Default occurs and is continuing, the principal amount hereof may be declared
due and payable in the manner and with the effect provided in the Indenture.

14. Trustee Dealings with the Company.

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

15. No Recourse Against Others.

          A director, officer, employee, agent, manager, controlling person, stockholder, incorporator
or other Affiliate of the Company, as such, shall not have any liability for any

A-2-8

 

obligations of the Company under the Notes or the Indenture or for any claim based on, in
respect of or by reason of, such obligations or their creation. Each Holder by accepting a Note
waives and releases all such liability. The waiver and release are part of the consideration for
the issuance of the Notes.

16. Authentication.

          This Note shall not be valid until the Trustee (or authenticating agent) executes the
certificate of authentication on the other side of this Note.

17. Abbreviations.

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

18. Additional Rights of Holders of Transfer Restricted Securities.

          In addition to the rights provided to Holders under the Indenture, Holders of Transfer
Restricted Securities shall have all the rights set forth in the Registration Rights Agreement.

19. CUSIP Numbers.

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

20. Governing Law.

          This Note shall be governed by, and construed in accordance with, the laws of the State of New
York.

A-2-9

 

ASSIGNMENT FORM

To assign this Note, fill in the form below and have your signature guaranteed: (I) or (we) assign

and transfer this Note to:

 

(Insert assignee’s soc. sec. or tax I.D. no.)

 

 

 

 

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

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

	 	 	 	 	 	 	 	 	 
	Dated:                    

	 	Your Name: 	 	 	 	 	 	 
	 	 	 	 
	 	 	(Print your name exactly as it appears on the face of
this Note)
	 
	 	 	 	 	 	 	 	 
	 	 	Your Signature:	 	 	 	 
	 	 	 	 	 	 	 
	 	 	(Sign exactly as your name appears on the face of
this Note)
	 
	 	 	 	 	 	 	 	 
	 	 	Signature Guarantee:*	 	 
	 

	 	 	 	 	 	 	 	 

 

			
	*	 	Participant in a recognized Signature
Guarantee Medallion Program (or other signature guarantor acceptable to the
Trustee).

A-2-10

 

Option of Holder to Elect Purchase 

          If you want to elect to have this Note or a portion of this Note purchased by the Company
pursuant to Section 4.09 of the Indenture, state the amount you elect to have purchased:

$                                        

Date:                                         

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Your Signature:	 	 	 	 
	 

	 	 	 	 

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

	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Tax Identification No.:
	 	 	 	 
	 

	 	 	 	 

	 
	 	 	 	 	 	 	 	 
	Signature Guarantee*:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

A-2-11

 

[THE FOLLOWING PROVISION TO BE INCLUDED ON ALL NOTES OTHER THAN EXCHANGE NOTES, REGULATION S
GLOBAL NOTES AND UNLEGENDED REGULATION S PHYSICAL NOTES]

In connection with any transfer of this Note occurring prior to the date which is the earlier of
the end of the period referred to in Rule 144(k) under the Securities Act, the undersigned confirms
that without utilizing any general solicitation or general advertising that:

[Check One]

	 	 	 	 	 
	o

	 	(a)
	 	this Note is being transferred in compliance with the
exemption from registration under the Securities Act of
1933 provided by Rule 144A thereunder.

or

	 	 	 	 	 
	o

	 	(b)
	 	this Note is being transferred other than in accordance
with (a) above and documents are being furnished which
comply with the conditions of transfer set forth in this
Note and the Indenture.

If none of the foregoing boxes is checked, the Trustee or other Registrar shall not be obligated to
register this Note in the name of any Person other than the Holder hereof unless and until the
conditions to any such transfer of registration set forth herein and in Section 2.09 of the
Indenture shall have been satisfied.

Date:                                        

	 	 	 	 	 
	 

	 	NOTICE: The signature to this assignment must
correspond with the name as written upon the face of
the within-mentioned instrument in every particular,
without alteration or any change whatsoever.	 	 
	 
	 	 	 	 
	 

	 	Signature Guarantee:	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 

	 	Signature must be guaranteed by a participant in a
recognized signature guaranty medallion program or
other signature guarantor acceptable to the Trustee.	 	 

A-2-12 

 

TO BE COMPLETED BY PURCHASER IF (a) ABOVE IS CHECKED.

     The undersigned represents and warrants that it is purchasing this Note for its own account or
an account with respect to which it exercises sole investment discretion, in each case for
investment and not with a view to distribution, and that it and any such account is a “Qualified
Institutional Buyer” within the meaning of Rule 144A under the Securities Act of 1933 and is aware
that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received
such information regarding the Company as the undersigned has requested pursuant to Rule 144A or
has determined not to request such information and that it is aware that the transferor is relying
upon the undersigned’s foregoing representations in order to claim the exemption from registration
provided by Rule 144A.

	 	 	 	 	 
	Date:                                        
	 	 	 	 
	 

	 	 

NOTICE: To be executed by an executive officer
	 	 

A-2-13 

 

SCHEDULE OF ADJUSTMENTS10

Initial Principal Amount: U.S.$

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal	 	 
	Date	 	Principal	 	 	 	amount	 	Notation made on
	adjustment	 	amount	 	Principal amount	 	following	 	behalf of the
	made	 	increase	 	decrease	 	adjustment	 	Registrar
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 

 

			
	10	 	This schedule should be included only if the Note is issued in global form.

A-2-14 

 

EXHIBIT B

[Form of Certificate to Be Delivered By Transferee

in Connection with Transfers to

Institutional Accredited Investors Which Are Not Qualified Institutional Buyers]

[Date]

The Bank of New York Trust Company, N.A.

[          ]

[          ]

Re: Lear Corporation

Ladies and Gentlemen:

          In connection with our proposed purchase of $                     aggregate principal amount of the
Company’s [     ]% Senior Notes due 20[     ] (the “Notes”) of Lear Corporation (the “Company”), we
confirm that:

     (1) We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3)
or (7) under the Securities Act of 1933, as amended (the “Securities Act”)) and have such
knowledge and experience in financial and business matters as to be capable of evaluating the
merits and risks of our investment in the Notes, and we and any accounts for which we are acting
are each able to bear the economic risk of our or their investment.

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

     (3) We are not acquiring the Notes with a view to distribution thereof or with any present
intention of offering or selling any Notes, except as permitted below; provided that the
disposition of our property and the property of any accounts for which we are acting as
fiduciary will remain at all times within our control.

     (4) We understand that any subsequent transfer of the Notes is subject to certain
restrictions and conditions set forth in the Indenture dated as of November 24, 2006 (the
“Indenture”) relating to the Notes and the undersigned agrees to be bound by, and not to resell,
pledge or otherwise transfer the Notes except in compliance with such restrictions and
conditions and the Securities Act.

     (5) We understand that the offer and sale of the Notes have not been registered under the
Securities Act, and that the Notes may not be offered or sold except as permitted in the
following sentence. We agree, on our own behalf and on behalf of any accounts for which we are
acting as hereinafter stated, that if we should sell any Notes prior to the expiration of the
holding period applicable to sales of the Notes under Rule 144(k) of the Securities Act, we will
do so only (A) to the Company or any subsidiary thereof, (B) to a “Qualified Institutional
Buyer” (as defined in Rule 144A under the Securities Act) in compliance with

B-1 

 

Rule 144A under the
Securities Act, (C) to an institutional “accredited investor” (as defined above) that, prior to
such transfer, furnishes to you a signed letter substantially in the form of this letter and, if
such transfer is in respect of an aggregate principal amount of less than $250,000, an opinion
of counsel acceptable to the Company that such transfer is in compliance with the Securities
Act, (D) outside the United States in accordance with Rule 904 under the Securities Act, (E)
pursuant to the exemption from registration provided by Rule 144 under the Securities Act (if
available) or (F) pursuant to a registration statement which has been declared effective under
the Securities Act (and continues to be effective at the time of such transfer), and we further
agree to provide to any person purchasing any of the Notes from us a notice advising such
purchaser that resales of the Notes are restricted as stated herein.

     (6) We understand that, on any proposed resale of any Notes, we will be required to
furnish to you and the Company such certifications, legal opinions and other information as you
and the Company may reasonably require to confirm that the proposed sale complies with the
foregoing restrictions. We further understand that the Notes purchased by us will be in
certificated form and will bear a legend to the foregoing effect.

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

	 	 	 	 	 
	 	Very truly yours,

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

B-2 

 

	 	 	 	 	 

EXHIBIT C

[Form of Certificate to Be Delivered by Transferor

in Connection with Transfers Pursuant to Regulation S]

[Date]

The Bank of New York Trust Company, N.A.

[          ]

[          ]

Re: Lear Corporation

Ladies and Gentlemen:

     In connection with our proposed sale of U.S.$                     aggregate principal amount of [     ]%
Senior Notes due 2013 (the “Notes”) of Lear Corporation (the “Company”), we confirm that such sale
has been effected pursuant to and in accordance with Regulation S under the U.S. Securities Act of
1933, as amended (the “Securities Act”) and, accordingly, we represent that:

     (1) the offer of the Notes was not made to a person in the United States;

     (2) at the time the buy order was originated, the transferee was outside the United States
or we and any person acting on our behalf reasonably believed that the transferee was outside
the United States;

     (3) no directed selling efforts have been made by us in the United States in contravention
of the requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act, as
applicable; and

     (4) the transaction is not part of a plan or scheme to evade the registration requirements
of the Securities Act.

          Each of the Company, the Trustee and the initial purchasers of the Notes are entitled to rely
upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry with respect to the
matters covered hereby. Terms used in this certificate have the meanings set forth in Regulation S
under the Securities Act.

	 	 	 	 	 
	 	Very truly yours,

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

C-1

 

 

EXHIBIT D

[FORM OF NOTATION OF GUARANTEE]

          For value received, each Guarantor (which term includes any successor Person under the
Indenture) has, jointly and severally, unconditionally guaranteed, to the extent set forth in the
Indenture and subject to the provisions in the Indenture dated as of November 24, 2006 (the
“Indenture”) among Lear Corporation, the Guarantors listed in the Indenture and The Bank of New
York Trust Company, N. A., as trustee (the “Trustee”), (a) the due and punctual payment of the
principal of, premium, if any, and interest on the Notes (as defined in the Indenture), whether at
maturity, by acceleration, redemption or otherwise, the due and punctual payment of interest on
overdue principal and premium, and, to the extent permitted by law, interest, and the due and
punctual performance of all other obligations of the Company to the Holders or the Trustee all in
accordance with the terms of the Indenture and (b) in case of any extension of time of payment or
renewal of any Notes or any of such other obligations, that the same will be promptly paid in full
when due or performed in accordance with the terms of the extension or renewal, whether at stated
maturity, by acceleration or otherwise. The obligations of the Guarantors to the Holders of Notes
and to the Trustee pursuant to the Note Guarantee and the Indenture are expressly set forth in
Article X of the Indenture and reference is hereby made to the Indenture for the precise terms of
the Guarantee. Each Holder of a Note, by accepting the same, (a) agrees to and shall be bound by
such provisions, (b) authorizes and directs the Trustee, on behalf of such Holder, to take such
action as may be necessary or appropriate to effectuate the subordination as provided in the
Indenture and (c) appoints the Trustee attorney-in-fact of such Holder for such purpose; provided,
however, that the Indebtedness evidenced by this Guarantee shall cease to be so subordinated and
subject in right of payment upon any defeasance of this Note in accordance with the provisions of
the Indenture.

	 	 	 	 	 
	 	[NAME OF GUARANTOR(S)]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

D-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]