Document:

EX-10.27

 Exhibit 10.27 
  

 
  

CONTRIBUTION AND PURCHASE AGREEMENT 

BETWEEN 
 SUMMIT
MATERIALS, INC., 
 SUMMIT MATERIALS HOLDINGS L.P., 

SUMMIT MATERIALS HOLDING GP LTD., 

AND 
 SUMMIT OWNER
HOLDCO LLC, 
 AND 

MISSOURI MATERIALS COMPANY, L.L.C., 

J & J MIDWEST GROUP, L.L.C., 

R. MICHAEL JOHNSON FAMILY LIMITED LIABILITY COMPANY, 

AND 
 THOMAS A. BECK
FAMILY, LLC, 
 AS THE MINORITY HOLDERS 

AND 
 CONTINENTAL CEMENT
COMPANY, L.L.C. 
 DATED 

December 18, 2014 

 Table of Contents 

 

							
	ARTICLE 1	  
	DEFINITIONS	 
			
	 Section 1.1
	 	 Definitions
	  	 	5	 
	 Section 1.2
	 	 Construction
	  	 	6	 
	
	ARTICLE 2	 
			
	 Section 2.1
	 	 Transactions to be taken pre-IPO
	  	 	7	 
	 Section 2.2
	 	 Transactions to be taken concurrent with the IPO (which IPO is Step 3)
	  	 	7	 
	 Section 2.3
	 	 Closing; Funding
	  	 	8	 
	 Section 2.4
	 	 Conditions to Closing
	  	 	9	 
	
	ARTICLE 3	 
	
	REPRESENTATIONS AND WARRANTIES	 
			
	 Section 3.1
	 	 Disclosure
	  	 	11	 
	 Section 3.2
	 	 Representations and Warranties of Minority Holders
	  	 	11	 
	 Section 3.3
	 	 Representations and Warranties of Parties other than the Minority Holders
	  	 	12	 
	
	ARTICLE 4	  
	COVENANTS	 
			
	 Section 4.1
	 	 Reasonable Best Efforts
	  	 	13	 
	 Section 4.2
	 	 Expenses
	  	 	14	 
	 Section 4.3
	 	 Certain Notifications until Closing
	  	 	14	 
	 Section 4.4
	 	 Imputed Interest
	  	 	14	 
	 Section 4.5
	 	 Release
	  	 	14	 
	
	ARTICLE 5	  
	MISCELLANEOUS	 
			
	 Section 5.1
	 	 Termination
	  	 	15	 
	 Section 5.2
	 	 Amendment
	  	 	16	 
	 Section 5.3
	 	 Waiver of Conditions
	  	 	16	 
	 Section 5.4
	 	 Counterparts and Facsimile
	  	 	16	 
	 Section 5.5
	 	 Governing Law; Submission to Jurisdiction, Etc.
	  	 	17	 
	 Section 5.6
	 	 Notices
	  	 	17	 
	 Section 5.7
	 	 Tax Allocation
	  	 	19	 
	 Section 5.8
	 	 Entire Agreement, Etc.
	  	 	19	 
	 Section 5.9
	 	 Assignment
	  	 	19	 
	 Section 5.10
	 	 Severability
	  	 	19	 
	 Section 5.11
	 	 No Third Party Beneficiaries
	  	 	20	 
	 Section 5.12
	 	 Confidentiality
	  	 	20	 
	 Section 5.13
	 	 No Recourse
	  	 	20	 
	 Section 5.14
	 	 Specific Performance
	  	 	20	 
	 Section 5.15
	 	 Consent of Minority Holders
	  	 	21	 

			
	Exhibit A – Form of Amendment to Cement Purchase Agreement
	
	Exhibit B – Form of Closing Notes
	
	Exhibit C – Form of Registration Rights Agreement
	
	Exhibit D – Form of Summit Holdings LLC Agreement

 CONTRIBUTION AND PURCHASE AGREEMENT 

This CONTRIBUTION AND PURCHASE AGREEMENT is dated as of December 18, 2014 (this “Agreement”) and is
between Summit Materials, Inc., a Delaware corporation (“IPO Corp”), Summit Materials Holdings L.P., a Delaware limited partnership (“Summit LP”), Summit Materials Holdings GP, Ltd, a
Delaware limited partnership and the general partner of Summit LP (“Summit GP”), Summit Owner Holdco LLC, a newly formed Delaware limited liability company (“Summit Holdings”), Missouri
Materials Company, L.L.C., J & J Midwest Group, L.L.C., R. Michael Johnson Family Limited Liability Company, Thomas A. Beck Family, LLC (each, a “Minority Holder” and, together, the “Minority
Holders”) and Continental Cement Company, L.L.C., a Delaware limited liability company (the “Company”). Capitalized terms used in this Agreement that are not otherwise defined herein will have the
meanings given to them in the LLC Agreement referred to below. 
 RECITALS 

A. The Minority Holders and Summit LP are party to the Amended and Restated Limited Liability Company Agreement, dated as of May 27, 2010
(as amended, the “LLC Agreement”), of the Company; 
 B. The Minority Holders are the owners of all of the
Class B Units of the Company (the “Transferred Units”) in the respective amounts set forth on Schedule I hereto; 

C. Summit LP has determined to undertake a Summit IPO, in connection with which IPO Corp is intended to be the “Summit Holdco”
referred to in the LLC Agreement, and each of the Minority Holders has the right, pursuant to the terms and conditions of Section 5.5 of the LLC Agreement, to exchange its Class B Units of the Company for common stock of IPO Corp (the
“Rollover Exchange”); 
 D. In lieu of the Minority Holders exercising their right to participate in the
Rollover Exchange, the Parties desire to enter into this Agreement in order to effect the transactions described below and to set forth certain agreements in connection therewith; 

E. The Parties intend for the transactions described in Step 1 in Section 2.1 to be treated as a tax-free exchange under
Section 721(a) of the Internal Revenue Code of 1986, as amended (the “Code”); and 
 F. The Parties
intend for the transactions described in Step 2 in Section 2.1 to be treated, together with the IPO, as transfers governed by Section 351 of the Code. 

 AGREEMENT 

NOW, THEREFORE, in consideration of the premises, and of the representations, warranties, covenants and agreements set forth herein, the
Parties agree as follows: 
 ARTICLE 1 

DEFINITIONS 

Section 1.1 Definitions. As used in this Agreement, the following terms, when capitalized, shall have the following
meanings: 
 “Affiliate” means any Person that directly, or indirectly through one or more intermediaries,
controls or is controlled by or is under common control with the Person specified. For purposes of this definition, control of a Person means the power, direct or indirect, to direct or cause the direction of the management and policies of such
Person whether through ownership of voting securities, by contract or otherwise. 
 “Amendment to Cement Purchase
Agreement” means the Amendment to Cement Purchase Agreement between Midwest and the Company to be entered into prior to the Closing, substantially in the form of Exhibit A. 

“Business Day” means a day other than (i) a Saturday, Sunday or (ii) any day on which banks located
in New York, New York or Kansas City, Missouri, U.S.A. are authorized or obligated to close. 
 “Closing
Notes” means the notes of Summit LP, in an aggregate principal amount of $15 million, in the form of Exhibit B. 

“Minority Holders’ Equity Number” will be equal to the excess of (x) the product of the
Pre-IPO Number multiplied by a fraction, the numerator of which is one and the denominator of which is 100% minus 1.469496%, over (y) the Pre-IPO Number. 

“IPO” means the Summit IPO. 

“Midwest” means Midwest Cement Company, a Missouri corporation. 

“Non-Recourse Parties” has the meaning set forth in Section 5.13. 

“Party” means each party to this Agreement and their permitted assigns who become party to this Agreement in
accordance with its terms, and “Parties” shall mean all of such parties and their permitted assigns. 

“Person” means any individual, partnership, limited liability company, corporation, joint stock company, trust,
estate, joint venture, association or unincorporated organization, or any other form of business or professional entity. 

“Pre-IPO Number” means the number of Class A Units of Summit LP that will be outstanding after giving
effect to the Recapitalization and immediately prior to the IPO. 
 “Recapitalization” means the
recapitalization, concurrent with the pricing of the IPO, of the various classes of interests of Summit LP into a single class of Class A Units of Summit LP. 

 “Registration Rights Agreement” means the Registration Rights
Agreement between IPO Corp and the other Persons party thereto to be entered into at the Closing, substantially in the form of Exhibit C. 

“Summit Holdings LLC Agreement” means the Amended and Restated Limited Liability Company Agreement of Summit
Holdings to be entered into at Closing, substantially in the form of Exhibit D. 
 “Transaction Document”
means the Closing Notes, the Registration Rights Agreement and the Summit Holdings LLC Agreement and any other agreement, document, certificate or instrument delivered pursuant to this Agreement. 

“Transfer” (including its correlative meanings, “Transferor”,
“Transferee” and “Transferred”) shall mean, with respect to any security, directly or indirectly, to sell, contract to sell, give, assign, hypothecate, pledge, encumber, grant a security
interest in, offer, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of (including through any hedging or other similar
transaction) any economic, voting or other rights in or to such security. When used as a noun, “Transfer” shall have such correlative meaning as the context may require. 

In addition, the following capitalized terms have meanings given to them in the sections indicated below: 

“Closing”: Section 2.3(a). 

“Closing Date”: Section 2.3(a). 

“Governmental Entities”: Section 2.4(a)(i). 

“Securities Act”: Section 3.2(e). 

Section 1.2 Construction. When a reference is made in this Agreement to “Recitals,” “Articles”,
“Sections”, or “Exhibits,” such reference shall be to a Recital, Article or Section of, or Exhibit to, this Agreement unless otherwise indicated. The terms defined in the singular have a comparable meaning when used in the
plural, and vice versa. References to “herein”, “hereof”, “hereunder” and the like refer to this Agreement as a whole and not to any particular section or provision, unless the context requires otherwise. The headings
contained in this Agreement are for reference purposes only and are not part of this Agreement. Whenever the words “include”, “includes”, or “including” are used in this Agreement, they shall be deemed followed by the
words “without limitation”. No rule of construction against the draftsperson shall be applied in connection with the interpretation or enforcement of this Agreement, as this Agreement is the product of negotiation between sophisticated
parties advised by counsel. All references to “$” or “dollars” mean the lawful currency of the United States of America. Except as expressly stated in this Agreement, all references to any statute, rule or regulation are to the
statute, rule or regulation as amended, modified, supplemented or replaced from time to time (and, in the case of statutes, include any rules and regulations promulgated under the statute) and to any section of any statute, rule or regulation
include any successor to the section. All calculations of shares or units shall be rounded to the nearest whole number. 

 ARTICLE 2 

FORMATION OF NEW ENTITIES AND RELATED TRANSACTIONS 

Section 2.1 Transactions to be taken pre-IPO. In connection with the pricing of the IPO, Summit LP will effectuate the
Recapitalization. Immediately prior to the consummation of the IPO, the following transactions will occur on the terms and subject to the conditions set forth in this Agreement, and they will be deemed to occur in the following order. 

(a) Step 1. Summit Holdings will be formed through the following actions: 

(i) Each of the Minority Holders will contribute to Summit Holdings two-sevenths of the total number of Class B Units of the
Company respectively held by them, in exchange for, in the aggregate, a number of Series A Units of Summit Holdings equal to the Minority Holders’ Equity Number (the “Contribution”). 

(ii) In accordance with Section 12 of the Summit Holdings LLC Agreement, and as part of the IPO Reorganization, Summit GP
will contribute to Summit Holdings the right to act as the general partner of Summit LP (whereupon Summit GP will cease to be the general partner of Summit LP and Summit Holdings will be deemed to be the successor general partner of Summit LP) in
exchange for which Summit GP will receive a number of Series B Units of Summit Holdings equal to the Pre-IPO Number. 
 (b) Step 2.

 (i) Summit Holdings will contribute to IPO Corp the Class B Units of the Company contributed to Summit Holdings by the
Minority Holders in accordance with clause (i) of Step 1, and in exchange IPO Corp will deliver to Summit Holdings a number of shares of Class A Common Stock of IPO Corp equal to the Minority Holders’ Equity Number. 

(ii) In accordance with Section 12 of the Summit Holdings LLC Agreement, and as part of the IPO Reorganization, Summit
Holdings will contribute to IPO Corp the right to act as the general partner of Summit LP (whereupon Summit Holdings will cease to be the general partner of Summit LP and IPO Corp will be deemed to be the successor general partner of Summit LP), and
in exchange IPO Corp will deliver to Summit Holdings a number of shares of Class B Common Stock of IPO Corp equal to the Pre-IPO Number. 

Section 2.2 Transactions to be taken concurrent with the IPO (which IPO is Step 3). Concurrently with
the consummation of the IPO (the consummation of which is subject to the approval of Summit GP, exercisable in its sole discretion), the following transactions will occur on the terms and subject to the conditions set forth in this Agreement, and
they will be deemed to occur in the following order. 
 (a) Step 4. IPO Corp contributes to Summit LP (i) the net proceeds from
the IPO and (ii) the Class B Units of the Company contributed to IPO Corp by Summit Holdings in 

 
accordance with clause (i) of Step 2 above, and in exchange Summit LP will deliver to IPO Corp a number of Class A Units of Summit LP equal to the sum of (x) the Minority
Holders’ Equity Number and (y) the number of shares of Class A Common Stock of IPO Corp purchased by the underwriters at the initial closing of the IPO. 

(b) Step 5. Each of the Minority Holders deliver to Summit LP the remaining five-sevenths of the Class B Units of the Company
respectively held by them, against payment by Summit LP to the Minority Holders, to be allocated among the Minority Holders in accordance with their respective holdings of such delivered Class B Units, $35 million in cash plus the Closing Notes.

 Section 2.3 Closing; Funding. (a) The closing of the transactions described above (the
“Closing”) will take place at the time and place at which the initial closing of the IPO occurs. The time and date on which the Closing occurs is referred to in this Agreement as the “Closing Date”.

 (b) At the Closing: 

(i) Each of the Minority Holders shall deliver or cause to be delivered: 

 

	 	(A)	such evidences of assignment with respect to the Transferred Units as may be reasonably requested by Summit LP or IPO Corp; provided that such documents shall not require any representations or warranties by the
Minority Holders except for “bring down” certifications of the representations and warranties set forth in Section 3.2 hereof; 

  

	 	(B)	the officer’s certificate referred to in Section 2.4(b)(iii); 

  

	 	(C)	the Summit Holdings LLC Agreement, duly executed; 

  

	 	(D)	the Registration Rights Agreement, duly executed; 

  

	 	(E)	an affidavit, dated as of the Closing Date, in form and substance reasonably acceptable to Summit LP, sworn under penalties of perjury, and in form and substance required under the United States Treasury Regulations
issued pursuant to Section 1445 of the Code, stating that such Person is not a “foreign person” as defined in Section 1445 of the Code; and 

  

	 	(F)	such other documentation or confirmation of the fulfillment of such further actions as Summit LP or IPO Corp shall have reasonably requested of the Minority Holders by a reasonable time prior to the Closing, and which
otherwise do not change the terms of this Agreement in any material respect. 

 (ii) Each other Party under this Agreement shall, as applicable, deliver or cause
to be delivered to each of the Minority Holders: 
  

	 	(A)	by wire transfer or delivery of immediately available funds to one or more accounts previously designated by such Person, an amount equal to its share of the $35 million in cash to which they are entitled pursuant to
Step 5; 

  

	 	(B)	a Closing Note reflecting such Minority Holder’s share of the of the Closing Notes; 

  

	 	(C)	its share of the Series A Units of Summit Holdings issued pursuant to Step 1; 

  

	 	(D)	the officer’s certificate referred to in Section 2.4(c)(iii); 

  

	 	(E)	the Summit Holdings LLC Agreement, duly executed; 

  

	 	(F)	the Registration Rights Agreement, duly executed; and 

  

	 	(G)	such other documentation or confirmation of the fulfillment of such further actions as the Minority Holders shall have reasonably requested of each other Party, as applicable, by a reasonable time prior to the Closing,
and which otherwise do not change the terms of this Agreement in any material respect. 

 Section 2.4 Conditions to
Closing. (a) The respective obligations of the Parties to consummate the Closing are subject to the fulfillment (or waiver by Minority Holders or the Company, as applicable) prior to the Closing of the conditions that: 

(i) any approvals, consents, authorizations, non-objections of, and all filings with and notices to all United States and other
governmental, regulatory or supervisory authorities (collectively, “Governmental Entities”), the absence of which would reasonably be expected to make the transactions contemplated by this Agreement unlawful, shall
have been obtained or made and shall be in full force and effect and all applicable waiting periods required by United States and other applicable law shall have expired; 

(ii) no provision of any applicable United States or other law, and no judgment, injunction, order or decree of any
Governmental Entity, shall prohibit the transactions contemplated by this Agreement; and 
 (iii) the initial closing of the
Summit IPO shall have been consummated or is being consummated on a substantially concurrent basis. 

 (b) The obligation of the parties other than the Minority Holders to consummate the Purchase and
the Contribution at the Closing is subject to the further fulfillment (or waiver by them, as applicable) prior to the Closing of the conditions that: 

(i) The representations and warranties in Section 3.2 hereof shall be true and correct in all material respects as of the
Closing Date, as though such representations and warranties had been made on and as of the Closing Date (except that representations and warranties that are made as of a specified date need be true and correct in all respects only as of such date);

 (ii) Each of the Minority Holders shall have duly performed and complied in all material respects (or, with respects to
actions to be taken at the Closing, is ready, willing and able so to perform and comply) with all agreements contained herein required to be performed or complied with by it at or before the Closing; 

(iii) Each of the Minority Holders shall have delivered to the other parties hereto a certificate dated the Closing Date and
signed by a senior executive officer or manager as to the fulfillment of the conditions set forth in Section 2.4(b)(i) and (ii); and 

(iv) The Amendment to Cement Purchase Agreement shall have been entered into by Midwest and the Company. 

(c) The obligation of the Minority Holders to consummate the Purchase and the Contribution at the Closing is subject to the further
fulfillment (or waiver by them, as applicable) prior to the Closing of the conditions that: 
 (i) The representations and
warranties in Section 3.3 hereof shall be true and correct in all material respects as of the Closing Date, as though such representations and warranties had been made on and as of the Closing Date (except that representations and warranties
that are made as of a specified date need be true and correct in all respects only as of such date); 
 (ii) The other
Parties shall have duly performed and complied in all material respects (or, with respects to actions to be taken at the Closing, is ready, willing and able so to perform and comply) with all agreements contained herein required to be performed or
complied with by them at or before the Closing; and 
 (iii) The Company shall have delivered a certificate dated the Closing
Date and signed by a senior executive officer or manager of each of them as to the fulfillment of the conditions set forth in Section 2.4(c)(i) and (ii). 

 ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

Section 3.1 Disclosure. Each Party acknowledges that it is not relying upon any representation or warranty not expressly
set forth in this Agreement. 
 Section 3.2 Representations and Warranties of Minority Holders. Each of the Minority
Holders hereby represents and warrants to the other parties to this Agreement that as of the date hereof and the Closing Date: 
 (a) The
Transferred Units set forth opposite such person’s name in the signature block of this Agreement are solely owned by such Person free and clear of any liens or other encumbrances, and are not subject to any transfer restrictions, pre-emptive or
similar rights, in each case, other than transfer restrictions under applicable securities laws or the LLC Agreement. Such Person has and at the Closing will deliver good and valid title to all of the Transferred Units so indicated as being solely
owned by such Person, free and clear of liens or other encumbrances other than transfer restrictions under applicable securities laws or the LLC Agreement. There are no outstanding options, warrants, conversion or other rights or agreements of any
kind (other than as provided in this Agreement) for the purchase or acquisition from, or the sale or issuance by, such Person, of any Transferred Units and no authorization has been given therefor. 

(b) Such Person is duly organized or formed, validly existing and in good standing under the laws of its jurisdiction of organization or
formation with limited liability company power and authority to own its properties and conduct its business in all material respects as currently conducted. 

(c) This Agreement is valid, binding and enforceable against such Person in accordance with its terms, subject to applicable bankruptcy,
insolvency and similar laws affecting creditors’ rights generally and the availability of equitable remedies. 
 (d) 

(i) Such Person has the full power, authority and legal right to execute, deliver and perform this Agreement and to consummate
the transactions contemplated herein. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated herein and therein have been duly authorized by all necessary action, corporate or otherwise, of
such Person and (A) do not require such Person to obtain any consent, approval or waiver that has not been obtained, (B) do not contravene or result in a default under any provision of any law, rule, regulation, judgment or order
applicable to such Person or any other agreement or instrument to which such Person is a party or by which such Person is bound and (C) do not contravene or result in a default under the certificate of incorporation, bylaws, partnership
agreement, limited liability agreement or other organizational documents of such Person, other than, in the case of clauses (A) and (B), any such items that would not, individually or in the aggregate, reasonably be expected to materially
impair the ability of such Person to consummate the transactions contemplated by this Agreement or to perform its obligations hereunder or thereunder. 

(ii) Other than such as has been made or obtained, no notice to, filing with, exemption or review by, or authorization, consent
or approval of, any Governmental Entity is required to be made or obtained by such Person in connection with the consummation by such Person of the Purchase or the Contribution. 

 (e) Such Person is acquiring the Series A Units of Summit Holdings and Company Note to be
received by it for investment and not with a view toward, or for offer or sale in connection with, any resale or public distribution thereof in violation of the U.S. Securities Act of 1933, as amended (the “Securities
Act”), or any state or non-U.S. law of similar effect. Such Person acknowledges that (i) Such Series A Units and Company Notes will not be registered under the Securities Act, or any state or non-U.S. law of similar effect,
(ii) Such Series A Units and Company Note will not be transferable except as expressly provided in this Agreement, the Summit Holdings LLC Agreement or the Registration Rights Agreement and, (iii) if certificated, Such Series A Units and
Company Note shall be issued with a restrictive legend regarding the transferability of the Closing Units and Closing Notes under the Securities Act in form and substance reasonably acceptable to Summit Holdings and Summit LP. 

(f) There is no litigation or other proceeding pending or, to the knowledge of such Person, threatened, which questions the validity of this
Agreement or any action taken or to be taken by such Person in connection herewith which would materially impair or delay such Preson’s ability to complete the transactions contemplated by this Agreement in accordance with the terms hereof.

 (g) No broker, finder, investment banker or other Person retained by such Person is entitled to any brokerage, finder’s or other
similar fee or commission in connection with the transactions contemplated by this Agreement for which any of the parties to this Agreement other than the Minority Holders could be responsible. 

Section 3.3 Representations and Warranties of Parties other than the Minority Holders. Each Party to this Agreement other
than the Minority Holders represents and warrants to the Minority Holders that as of the date hereof and as of the Closing Date: 
 (a) Such
Person is duly organized and validly existing and in good standing under the laws of the State of Delaware, with limited liability company or limited partnership power and authority to own its properties and conduct its business in all material
respects as currently conducted. 
 (b) This Agreement is valid, binding and enforceable against such Person in accordance with its terms,
subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally and the availability of equitable remedies. 

(c) Such Person has the full power, authority and legal right to execute, deliver and perform this Agreement and to consummate the
transactions contemplated herein. The execution, delivery and performance of this Agreement and the consummation of the 

 
transactions contemplated herein have been duly authorized by all necessary limited liability company or limited partnership action of such Person and (A) do not require such Person to
obtain any consent, approval or waiver that has not been obtained, (B) do not contravene or result in a default under any provision of any law, rule, regulation, judgment or order applicable to such Person or any other agreement or instrument
to which such Person is a party or by which such Person is bound and (C) do not contravene or result in a default under organizational documents of such Person, other than, in the case of clauses (A) and (B), any such items that would not,
individually or in the aggregate, reasonably be expected to materially impair the ability of such Person to consummate the transactions contemplated by this Agreement or to perform its obligations hereunder or thereunder. 

(d) There is no litigation or other proceeding pending or, to the knowledge of such Person, threatened, which questions the validity of this
Agreement or any action taken or to be taken by such Person in connection herewith which would materially impair or delay such Person’s ability to complete the transactions contemplated by this Agreement in accordance with the terms hereof.

 (e) No broker, finder, investment banker or other Person retained by such Person is entitled to any brokerage, finder’s or other
similar fee or commission in connection with the transactions contemplated by this Agreement for which any of the Minority Holders could be responsible. 

ARTICLE 4 
 COVENANTS

 Section 4.1 Reasonable Best Efforts. Subject to the terms and conditions of this Agreement, each of the Parties
will use its reasonable best efforts in good faith to take, or cause to be taken, all actions, and to do, or cause to be done, all things necessary, proper or desirable, or advisable under applicable laws, so as to permit consummation of the
Purchase or the Contribution at the Closing as promptly as practicable and otherwise to enable consummation of the transactions contemplated hereby and shall use reasonable best efforts to cooperate with each other Party to that end. In connection
with the foregoing, each of the Parties will use its reasonable best efforts to obtain, as promptly as practicable, all approvals, authorizations, non-objections and other actions from, and to make any filings and notices with, all Governmental
Entities as are required to be obtained or made by such Party in order to effectuate the Purchase or the Contribution, and shall reasonably cooperate with each other Party hereto in connection with such other Party’s efforts to obtain and make
such approvals, authorizations, non-objections, actions, filings and notices. Each Party shall furnish each other Party with copies of any materials to be filed with any Governmental Entity in connection with the transactions contemplated by this
Agreement (other than any portions thereof that contain confidential information concerning the Party making such filing) and such other Party shall have a reasonable opportunity to provide comments thereon. Each Party shall give each other Party
prompt notice if it receives any notice or other communication from any Governmental Entity in connection with the transactions contemplated by this Agreement and, in the case of any such notice or communication that is in writing, shall promptly
furnish such other Party with a copy thereof (other than any portions thereof that contain confidential information regarding the Party receiving such notice or communication) and shall consult with each other Party in advance of

 
any meeting or conference with a Governmental Entity in connection with the transactions contemplated by this Agreement and, to the extent permitted by law and by the applicable Governmental
Entity, shall give each other Party the opportunity to attend and participate in any such meetings or conferences. The Minority Holders shall be responsible for and shall pay all filing fees and other charges for the filings and notices required
pursuant to this Section 4.1. 
 Section 4.2 Expenses. Unless otherwise provided herein, each of the Parties hereto
will bear and pay all costs and expenses incurred by it or on its behalf in connection with the transactions contemplated by this Agreement, including but not limited to: (i) fees and expenses of its own financial or other consultants,
investment bankers, accountants and counsel and (ii) any and all transfer taxes arising from the transfer of Class B Units of the Company. 

Section 4.3 Certain Notifications until Closing. From the date of this Agreement until the Closing, each Party shall
promptly notify each other Party of any fact, event or circumstance of which it is aware and which would be reasonably likely to cause any representation or warranty of such Party contained in this Agreement to be untrue or inaccurate in any
material respect or to cause any covenant or agreement of such Party contained in this Agreement not to be complied with or satisfied in any material respect; provided, however, that delivery of any notice pursuant to this Section 4.3 shall not
limit or affect any rights of or remedies available to each other Party. 
 Section 4.4 Imputed Interest. The Parties to
this Agreement acknowledge and agree that a portion of the payments made under the Company Notes shall be treated as imputed interest under Sections 483, 1272 or 1274 of the Code. The Parties shall file any tax returns in accordance with such
treatment. 
 Section 4.5 Release. 

(a) Effective upon the Closing, each of the Minority Holders hereby irrevocably waives, releases and discharges forever the other Parties to
this Agreement from any and all liabilities and obligations to, and agreements with, such other Parties of any kind or nature arising, directly or indirectly, out of or related to such party’s ownership of Class B Units or such party’s
status as a member of the Company, including, without limitation, in respect of rights of contribution or indemnification, in each case whether absolute or contingent, liquidated or unliquidated and whether arising under any agreement or
understanding or otherwise at law or equity based upon any act, omission or circumstance occurring or existing through the Closing, and each of the Minority Holders hereby covenants and agrees that none of such other Parties will have any liability
or obligation in connection therewith or thereunder and that it will not seek to recover any amounts in connection therewith or thereunder from any such other Party; provided, however, that nothing contained in this Section 4.5(a) will
(i) release any such other Party from any liabilities and obligations arising under this Agreement or any other Transaction Document or (ii) release the Company from its obligations to indemnify any Minority Holder as a “Covered
Person” as provided in the Amended and Restated Limited Liability Company Agreement of the Company, dated as of May 27, 2010, as amended (the “Company LLC Agreement”). 

 (b) Effective upon the Closing, each Party other than the Minority Holders hereby irrevocably
waives, releases and discharges forever each of the Minority Holders from any and all liabilities and obligations to, and agreements with, such other Parties of any kind or nature arising, directly or indirectly, out of or related to such other
Party’s ownership of Class B Units or such other Holder’s status as a member of the Company including, without limitation, in respect of rights of contribution or indemnification, in each case whether absolute or contingent, liquidated or
unliquidated and whether arising under any agreement or understanding or otherwise at law or equity based upon any act, omission or circumstance occurring or existing through the Closing, and each of the Parties other than the Minority Holders
hereby covenants and agrees that none of the Minority Holders will have any liability or obligation in connection therewith or thereunder and that it will not seek to recover any amounts in connection therewith or thereunder from any such Minority
Holder; provided, however, that nothing contained in this Section 4.5(b) will release any such Party from any liabilities and obligations arising under this Agreement or any other Transaction Document. 

4.6 Indemnification of Covered Persons. From and after the Closing, the Company shall, and IPO Corp shall cause the Company to, honor,
assume and maintain in effect, to the fullest extent permitted by applicable Law, (i) all rights to indemnification, advancement of expenses and exculpation of each Minority Holder as provided in the Company LLC Agreement, as in effect on the
date of this Agreement and (ii) all rights to indemnification and advancement of expenses of Michael K. Farmer and R. Michael Farmer as Covered Persons pursuant to the Company LLC Agreement and in any indemnification or other agreement with the
Company to which either of them is a party, as in effect on the date of this Agreement. 
 ARTICLE 5 

MISCELLANEOUS 

Section 5.1 Termination. (a) This Agreement may be terminated at any time prior to the Closing: 

(i) by either the Minority Holders or the Company if the Closing Date shall not have occurred by June 30, 2015; 

(ii) by any Party hereto if any Governmental Entity shall have issued an order, decree or ruling or taken any other action
restraining, enjoining or otherwise prohibiting the transactions contemplated by this Agreement and such order, decree, ruling or other action shall have become final and nonappealable; 

(iii) by Summit LP, by written notice to the Minority Holders, if any of the Minority Holders has breached or failed to perform
in any material respect any of its obligations set forth in this Agreement, (i) such that the conditions set forth in Section 2.4(a) or (b) cannot be satisfied, and (ii) such breach or failure to perform cannot be cured by such
Person or, if capable of being cured, shall not have been cured within the earlier of (i) thirty days after receipt by such Person of notice in writing from Summit LP, specifying the nature 

 
of such breach and requesting that it be cured, and (ii) three Business Days prior to the Termination Date; provided, that Summit LP shall not have the right to terminate this
Agreement pursuant to this Section 5.1(a)(iii) if it is then in breach of any of its obligations under this Agreement such that the conditions set forth in Section 2.4(a) or (c) cannot be satisfied; 

(iv) by the Minority Holders, by written notice to Summit LP, if any Party other than the Minority Holders has breached or
failed to perform in any material respect any of its obligations set forth in this Agreement, (i) such that the conditions set forth in Section 2.4(a) or (c) cannot be satisfied, and (ii) such breach or failure to perform cannot
be cured by such Party or, if capable of being cured, shall not have been cured within the earlier of (i) thirty days after receipt by such Party of notice in writing from the Minority Holders, specifying the nature of such breach and
requesting that it be cured, and (ii) three Business Days prior to the Termination Date; provided, that the Minority Holders shall not have the right to terminate this Agreement pursuant to this Section 5.1(a)(iv) if any of the
Minority Holders is then in breach of any of its obligations under this Agreement such that the conditions set forth in Section 2.4(a) or (b) cannot be satisfied; 

(v) if Summit LP elects, by written notice to the Minority Holders, to no longer pursue the consummation of the IPO; or 

(vi) by the mutual written consent of the Minority Holders and Summit LP. 

(b) In the event of termination of this Agreement as provided in this Section 5.1, this Agreement shall forthwith become void and there
shall be no liability on the part of any Party hereto, except that nothing herein shall relieve any Party from liability for any breach of this Agreement occurring prior to the termination of this Agreement. 

(c) This Article 5 shall survive any termination of this Agreement. 

Section 5.2 Amendment. No amendment of any provision of this Agreement will be effective unless made in writing and signed
by an officer or manager of each of the Minority Holders and Summit LP. 
 Section 5.3 Waiver of Conditions. The
conditions to each Party’s obligation to consummate the Purchase and the Contribution are for the sole benefit of such Party and may be waived by such Party in whole or in part to the extent permitted by applicable law. No waiver of any
provision of this Agreement will be effective unless it is in a writing signed by an officer or manager of the waiving Party that makes express reference to the provision or provisions subject to such waiver. 

Section 5.4 Counterparts and Facsimile. For the convenience of the Parties hereto, this Agreement may be executed in any
number of separate counterparts, each such counterpart being deemed to be an original instrument, and all such counterparts will together constitute the same agreement. Executed signature pages to this Agreement may be delivered by facsimile or
electronic transmission and such facsimiles or electronic transmissions will be deemed as sufficient as if actual signature pages had been delivered. 

 Section 5.5 Governing Law; Submission to Jurisdiction, Etc. This Agreement
shall be governed by, and construed and interpreted in accordance with, the laws of the State of Delaware, without giving effect to any applicable principles of conflict of laws rules that would cause the laws of another State to otherwise govern
this Agreement. The Parties hereto hereby (a) irrevocably submit to the personal jurisdiction of the Chancery Court of the State of Delaware or any federal court located in Delaware in the event that any dispute arises out of this Agreement or
any of the transactions contemplated by this Agreement, but excluding any action taken by any holder of the Closing Notes to enforce payment or other performance thereunder, (b) agrees that it will not attempt to deny or defeat such personal
jurisdiction or venue by motion or other request for leave from any such court and (c) agrees that it will not bring any action relating to this Agreement or any of the transactions contemplated by this Agreement, but excluding any action taken
by any holder of the Closing Notes to enforce payment or other performance thereunder, in any court other than such courts. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED
AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR
THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, TO SUCH PARTY THAT SUCH OTHER PARTY WOULD NOT, IN
THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (III) EACH PARTY MAKES THIS WAIVER VOLUNTARILY AND (III) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS
AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS EXPRESSED ABOVE. 
 Section 5.6 Notices. Any
notice, request, instruction or other document to be given hereunder by any Party to the other will be in writing and will be deemed to have been duly given (a) on the date of delivery if delivered personally, or by facsimile or electronic
transmission, upon confirmation of receipt, or (b) on the second business day following the date of dispatch if delivered by a recognized next day courier service. All notices hereunder shall be delivered as set forth below, or pursuant to such
other instructions as may be designated in writing by the Party to receive such notice. 
 If to the Minority Holders: 

Missouri Materials Company, L.L.C. and J & J Midwest Group, L.L.C.: 

Midwest Cement Company 
 221
Bolivar, Suite 401 
 Jefferson City, MO 65101 

Attention: Mike Farmer 

Facsimile: (573) 636-8618 

Email: mfarmer@farmercompanies.com 

 R. Michael Johnson Family Limited Liability Company: 

R. Michael Johnson Family Limited Liability Company 

146 N. Bemiston 
 Clayton, MO
63105 
 Thomas A. Beck Family, LLC: 

Thomas A. Beck Family, LLC 
 1
Forest Hills Ridge Ct. 
 Facsimile: (636) 532-7445 

with copies to: 
 Greensfelder,
Hemker & Gale, P.C. 
 10 South Broadway, Suite 2000 

St. Louis, MO 63102 
 Attention:
Phillip Stanton 
 Facscimile: (314) 241-3237 

Email: prs@greensfelder.com 

If to a Party other than the Minority Holders: 

Summit Materials Holdings L.P. 

1550 Wynkoop, 3rd Floor 
 Denver,
Colorado 80202 
 Attention: Neil Simpkins; Tom Hill 

with copies to: 
 The Blackstone
Group, L.P. 
 345 Park Avenue 

New York, New York 10154 

Attention: Neil Simpkins 
 and:

 Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 
 New York,
New York 10017-3954 
 Facsimile: (212) 455-2502 

Attention: Wilson S. Neely 

E-Mail: wneely@stblaw.com 

 Section 5.7 Tax Allocation. 

(a) Within ninety (90) days of the Closing Date, Summit LP shall prepare an allocation (in accordance with the principles of
Section 1060 of the Code the Treasury Regulations promulgated thereunder) of the portion of the consideration payable to the Minority Holders for the remaining five- sevenths of the Class B Units under Section 2.2(b) of this Agreement (
the “Step 5 Consideration”) among the portion of the assets of the Company indirectly acquired pursuant to Section 2.2(b) and deliver such allocation to the Minority Holders for their review and comment. Within thirty
(30) days of receiving such allocation, the Minority Holders shall submit any comments to Summit LP, and Summit LP shall reflect any reasonable comments in a revised allocation to be delivered to the Minority Holders. The Parties shall file any
tax returns consistent with such revised allocation. The Minority Holders will be provided such back-up information and explanations regarding the allocation as they reasonably request. 

(b) To the extent any portion of the Step 5 Consideration is in exchange for all or part of the interest in the Company of the Minority
Holders attributable to any of the items described in Section 751(a) (1) or (2) of the Code ( “Hot Assets”), the cash portion of the Step 5 Consideration shall be allocated first to Hot Assets to the extent of their fair
market value, and if the cash portion of the Step 5 Consideration exceeds the fair market value of the Hot Assets, the balance of the cash portion of the Step 5 Consideration shall be allocated to assets other than Hot Assets. No payments under the
Closing Notes shall be allocated to the Hot Assets unless the fair market value of the Hot Assets exceed the cash portion of the Step 5 Consideration and, in such case, payments under the Closing Notes shall only to allocated to Hot Assets to the
extent of such excess. 
 Section 5.8 Entire Agreement, Etc. This Agreement constitutes the entire agreement of the
Parties hereto, and supersede all other prior agreements, understandings, representations and warranties, both written and oral, between the Parties, with respect to the subject matter hereof. 

Section 5.9 Assignment. Neither this Agreement nor any right, remedy, obligation nor liability arising hereunder or by
reason hereof shall be assignable by any Party hereto without the prior written consent of the other Parties, and any attempt to assign any right, remedy, obligation or liability hereunder without such consent shall be void. 

Section 5.10 Severability. If any provision of this Agreement becomes or is deemed invalid, illegal or unenforceable in any
jurisdiction by reason of the scope, extent or duration of its coverage, then such provision shall be deemed amended to the extent necessary to conform to applicable law so as to be valid and enforceable or, if such provision cannot be so amended
without materially altering the intention of the Parties, then such provision shall be stricken and the remainder of this Agreement shall continue in full force and effect. Should there ever occur any conflict between any provision contained in this
Agreement and any present or future statute, law, ordinance or regulation contrary to which the Parties have no legal right to 

 
contract, the latter shall prevail, but the provision of this Agreement affected thereby shall be curtailed and limited only to the extent necessary to bring it into compliance with the law. All
the other terms and provisions of this Agreement shall continue in full force and effect without impairment or limitation. 

Section 5.11 No Third Party Beneficiaries. Nothing contained in this Agreement, expressed or implied, is intended to confer
upon any Person or entity other than the Parties hereto, any benefits, rights, or remedies. 
 Section 5.12
Confidentiality. This Agreement shall be treated as confidential. This Agreement may not be used, circulated, quoted or otherwise referred to, except with the written consent of the Parties; provided, that no such written consent shall be
required (and the Parties and their respective Affiliates shall be free to release such information) for disclosures to their respective Affiliates’ and their and such Affiliates’ respective partners, members, directors, officers,
employees, agents, legal, financial, accounting or other advisors, co-sponsors, related investment funds, consultants and other representatives, and representatives of any thereof, so long as such Persons agree to keep such information confidential
on terms substantially identical to the terms contained in this Section 5.12 and to the auditors of such Party; provided, further, that a Party may disclose this Agreement (a) to the extent required or requested, as appropriate, by law,
regulation, judicial or governmental order, subpoena or other legal process or by any governmental, regulatory or supervisory authority, stock exchange or rating agency, (b) if, in IPO Corp’s judgment, such disclosure would be necessary or
advisable in connection with any filings or other disclosure with the Securities and Exchange Commission; provided, that IPO Corp shall, to the extent reasonably practicable, provide the Minority Holders with an opportunity to review such disclosure
in advance, or (c) to the extent the Parties consent thereto. 
 Section 5.13 No Recourse. Notwithstanding anything
that may be expressed or implied in this Agreement, or any other document or instrument delivered in connection therewith, each Party, by its acceptance of the benefits of this Agreement, covenants, agrees and acknowledges that no Person other than
the Parties hereto shall have any obligation hereunder and that, notwithstanding any such Party may be partnerships or limited liability companies, no recourse hereunder or under any documents or instruments delivered in connection herewith shall be
had against any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder, Affiliate or assignee of a Party or any former, current or future director, officer, employee, agent, general or
limited partner, manager, member, stockholder, Affiliate or assignee of any of the foregoing (such Persons, the “Non-Recourse Parties”), whether by the enforcement of any assessment or by any legal or equitable proceeding, or
by virtue of any statute, regulation or other applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any Non-Recourse Party, as such, for any
obligations of the undersigned under this letter or any other document or instrument delivered in connection herewith or for any claim based on, in respect of, or by reason of such obligations or their creation. 

Section 5.14 Specific Performance. The Parties agree that, prior to the Closing Date, irreparable damage would occur in the
event that any of the provisions of this Agreement are not performed by the Parties in accordance with their specific terms or are otherwise breached, including any wrongful failure to consummate the Purchase or the Contribution. It is

 
accordingly agreed that each Party shall be entitled to an injunction or injunctions or other specific performance or equitable relief to prevent breaches of this Agreement and to cause the
Purchase and the Contribution to occur on the terms and subject to the conditions thereto set forth herein. Each Party hereby waives (a) any defenses in any action for specific performance that such other Party has an adequate remedy under
applicable law and (b) any requirement under any applicable law to post a bond or other security as a prerequisite to obtaining such equitable relief. Each Party agrees that it will not oppose the granting of an injunction, specific performance
and other equitable relief sought in accordance with this Section 5.14 on the basis that each other Party has an adequate remedy at law or that any award of specific performance is not an appropriate remedy for any reason at law or in equity.

 Section 5.15 Consent of Minority Holders. Any consent, agreement, approval or other action of Minority Holders
hereunder shall be effective if such consent, agreement, approval or other action is taken or given by Minority Holders holding a majority of the Transferred Units then held (or held immediately prior to the Closing if such consent, agreement,
approval or other action is taken or given by Minority Holders after the Closing) by Minority Holders as of the date any such consent, agreement, approval or other action is taken or given. 

[Signature page follows] 

 IN WITNESS WHEREOF, this Agreement has been duly executed and delivered as of the date first
herein above written. 
  

			
	SUMMIT MATERIALS, INC.
		
	By:	 	 /s/ Brian J. Harris

	Name:	 	Brian J. Harris
	Title:	 	Chief Financial Officer
	
	SUMMIT MATERIALS HOLDINGS L.P.
		
	By:	 	Summit Materials Holdings GP LTD.
	Its:	 	General Partner
		
	By:	 	 /s/ Neil Simpkins

	Name:	 	Neil Simpkins
	Title:	 	Director
	
	SUMMIT OWNER HOLDCO LLC
		
	By:	 	Summit Materials Holdings GP LTD.
	Its:	 	Managing Member
		
	By:	 	 /s/ Neil Simpkins

	Name:	 	Neil Simpkins
	Title:	 	Director
	
	SUMMIT MATERIALS HOLDINGS GP LTD.
		
	By:	 	 /s/ Neil Simpkins

	Name:	 	Neil Simpkins
	Title:	 	Director

 [Signature Page to Contribution and Purchase Agreement] 

 
			
	MISSOURI MATERIALS COMPANY, L.L.C.
		
	By:	 	 /s/ Elliot E. Farmer

	Name:	 	 Elliot E. Farmer, Trustee of the Elliot E.

Farmer Family Trust, dated May 26, 1999

	Title:	 	Member
	
	J & J MIDWEST GROUP, L.L.C.
		
	By:	 	 /s/ Elliot E. Farmer

	Name:	 	 Elliot E. Farmer, Trustee of the Elliot E.

Farmer Family Trust, dated May 26, 1999

	Title:	 	Member
	
	R. MICHAEL JOHNSON FAMILY LIMITED LIABILITY COMPANY
		
	By:	 	 /s/ R. M. Johnson

	Name:	 	R. M. Johnson
	Title:	 	Managing Member
	
	THOMAS A. BECK FAMILY, LLC
		
	By:	 	 /s/ Thomas A. Beck

	Name:	 	Thomas A. Beck
	Title:	 	Member

 [Signature Page to Contribution and Purchase Agreement] 

 
			
	Acknowledged by:
	
	CONTINENTAL CEMENT COMPANY, L.L.C.
		
	By:	 	 /s/ Anne Lee Benedict

	Name:	 	Anne Lee Benedict
	Title:	 	Secretary

 [Signature Page to Contribution and Purchase Agreement] 

 Schedule I 

 

																					
	 Minority Holders
	 	Number of
Class B Units	 	 	Number of Class B Units
to be Contributed
Pursuant to
Section 2.1(a)	 	 	Number of Class B
Units to be Purchased
Pursuant to
Section 2.2(b)	 	 	Allocated of $35
million cash to
Minority Holders	 	 	Allocation of $15
million of
Closing Notes to
Minority
Holders	 
	 Missouri Materials Company, L.L.C.
	 	 	85,421,703	  	 	 	24,406,201	  	 	 	61,015,502	  	 	 	85.42	% 	 	$	13,250,604.36	  
	 J & J Midwest Group, L.L.C.
	 	 	2,744,363	  	 	 	784,104	  	 	 	1,960,259	  	 	 	2.74	% 	 	$	329,323.56	  
	 R. Michael Johnson Family Limited Liability Company
	 	 	10,097,730	  	 	 	2,885,066	  	 	 	7,212,664	  	 	 	10.10	% 	 	$	1,211,727.60	  
	 Thomas A. Beck Family, LLC
	 	 	1,736,204	  	 	 	496,058	  	 	 	1,240,146	  	 	 	1.74	% 	 	$	208,344.48	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total
	 	 	100,000,000	  	 	 	28,571,429	  	 	 	71,428,571	  	 	 	100.00	% 	 	$	15,000,000.00	  
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 

 Exhibit A 

Form of Amendment to Cement Purchase Agreement 

 AMENDMENT TO CEMENT PURCHASE AGREEMENT 

This AMENDMENT TO CEMENT PURCHASE AGREEMENT, dated as of
[                    ], 2014 (this “Amendment”) amends the Cement Purchase Agreement, dated as of May 27, 2010 (as amended, the
“Agreement”), and is made and entered into as of [                    ], 2014, by and between MIDWEST CEMENT COMPANY, a Missouri
corporation (collectively, with its Affiliates, the “Buyer”), and CONTINENTAL CEMENT COMPANY, L.L.C., a Delaware limited liability company (the “Seller”). 

RECITALS 
 WHEREAS, Seller is
engaged in the business of manufacturing, marketing, selling and distributing cement and Buyer desires to continue purchasing cement from Seller; and 

WHEREAS, Buyer and Seller desire to amend the Agreement to extend the term thereof and to make other amendments to the Agreement as further
set forth herein. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the mutual covenants hereinafter contained, Seller and Buyer agree as follows: 

Section 1. Capitalized Terms; Effective Date of this Amendment. Unless otherwise defined herein, capitalized terms used herein
and defined in the Agreement are used in this Amendment as defined in the Agreement. This Amendment shall be deemed effective as of the date first written above. Except as expressly amended herein, all other terms and conditions of the Agreement
shall remain in full force and effect and are hereby ratified and confirmed. 
 Section 2. Amendments to the Agreement. 

(a) The definition of “Market Price” in Section 1 of the Agreement is hereby amended and restated as follows:

 ““Market Price” means: 

(a) with respect to cement purchased by Buyer for consumption in the State of Missouri: 

(i) FOB the St. Louis Terminal, the lowest price per ton of comparable cement volume sold at a given time to any customer of
Seller FOB the St. Louis Terminal, net of any discounts or rebates offered to that customer, taking into account prevailing market conditions (the “St. Louis Price”), 

(ii) FOB the Hannibal Plant by barge, the St. Louis Price minus $5.00 per ton, 

  
 1 

 (iii) FOB the Hannibal Plant by truck for consumption in Northeastern Missouri
(as defined below), the St. Louis Price per ton plus the applicable Northeastern Missouri Premium (as defined below), and 

(iv) FOB the Hannibal Plant by truck for consumption in Missouri except for Northeastern Missouri, the St. Louis Price minus
$5.00 per ton; and 
 (b) with respect to cement purchased by Buyer for consumption outside of Missouri, a price per ton
subject to mutual agreement of the parties. 
 “Northeastern Missouri” means the following counties in the State of Missouri:
Putnam, Schuyler, Scotland, Clark, Sullivan, Adair, Knox, Lewis, Linn, Macon, Shelby, Marion, Chariton, Randolph, Monroe, Audrain, Pike and Ralls.” 

“Northeastern Missouri Premium” means: (i) during the 2015 Contract Year, $3 per ton, (ii) during the 2016 Contract Year,
$5 per ton, (iii) during the 2017 Contract Year, $7 per ton and (iv) after the 2017 Contract Year, $8 per ton. 

(b) Section 2 of the Agreement is hereby amended and restated as follows: 

“Section 2. Term. The term of this Agreement shall commence on the Effective Date and continue until the end of the Contract Year
for 2022 (the “Term”).” 
 (c) Section 3 of the Agreement is hereby amended by deleting the table
that appears therein and replacing it with the following table: 
  

			
	 Contract Year(s)
	  	 Applicable Minimum Tonnage

	2010 – 2011	  	90% of Buyer’s requirements of cement with respect to each of the markets Seller serves during such Contract Year
	2012	  	80% of Buyer’s requirements of cement with respect to each of the markets Seller serves during such Contract Year
	2013	  	70% of Buyer’s requirements of cement with respect to each of the markets Seller serves during such Contract Year
	2014	  	60% of Buyer’s requirements of cement with respect to each of the markets Seller serves during such Contract Year
	2015	  	75% of Buyer’s requirements of cement with respect to each of the markets Seller serves during such Contract Year
	2016	  	70% of Buyer’s requirements of cement with respect to each of the markets Seller serves during such Contract Year
	2017	  	65% of Buyer’s requirements of cement with respect to each of the markets Seller serves during such Contract Year
	2018	  	60% of Buyer’s requirements of cement with respect to each of the markets Seller serves during such Contract Year
	2019	  	55% of Buyer’s requirements of cement with respect to each of the markets Seller serves during such Contract Year
	Thereafter, for remainder of Term	  	50% of Buyer’s requirements of cement with respect to each of the markets Seller serves during such Contract Year

  
 2 

 (d) Section 12 of the Agreement is hereby amended by updating the notice
addresses of Buyer and Seller set forth therein as follows: 
 “If to Buyer: 

Midwest Cement Company 
 221
Bolivar, Suite 401 
 Jefferson City, MO 65101 

Attention: Kirk Farmer 

Facsimile: (573) 636-8618 

Email: kfarmer@farmercompanies.com 

If to Seller: 
 Continental Cement
Company, L.L.C. 
 16100 Swingley Ridge Road, Suite 230 

Chesterfield, MO 63017 

Attention: President 
 Facsimile:
(636) 732-7445 
 Email: tbeck@continentalcement.com” 

Section 3. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. 
 Section 4. Applicable Law. This Agreement shall be
governed by and construed in accordance with the laws of the State of Missouri. 
 Section 5. References. Upon full execution
of this Amendment, all references in the Agreement or in other documents related to the Agreement shall be deemed to be references to the Agreement as modified by this Amendment. 

[Signature page follows] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date set forth
above. 
  

			
	MIDWEST CEMENT COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CONTINENTAL CEMENT COMPANY, L.L.C.
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Amendment to Cement Purchase Agreement] 

 Exhibit B 

Form of Closing Notes 

 SUMMIT MATERIALS HOLDINGS L.P. 

NOTE 
  

			
	$[            ]	  	[            ], 2015

 FOR VALUE RECEIVED, the undersigned Summit Materials Holdings L.P., a Delaware limited partnership (the
“Payor”), whose address is 1550 Wynkoop Street, 3rd Floor, Denver, Colorado 80202, hereby promises to pay to the order of [PAYEE NAME], a [ENTITY TYPE] (“Payee”), at Payee’s office at
[            ] (or such other address specified by Payee to the Payor), the sum of [            ] DOLLARS
$[(            )] or such lesser amount as shall remain unpaid under this note (this “Note”), in legal and lawful money of the United States of America. 

This is an unsecured, non-interest bearing note; provided, however, that if an Event of Default has occurred and is continuing,
the unpaid principal balance of this Note shall bear interest at the rate of either eight percent (8.00%) per annum or the highest rate allowed by law, whichever is lower, until such Event of Default is cured. Such interest accruing following
an Event of Default shall be immediately due and payable by Payor to Payee upon demand and shall be additional indebtedness evidenced by this Note. 

This Note shall be payable in six equal annual installments of $[            ] on
each anniversary of [IPO CLOSING DATE], beginning with the first such anniversary date after the date hereof. In the event any such anniversary date is not a business day, the applicable annual installment will be paid on the next succeeding
business day. 
 This Note may be prepaid at any time, in whole or in part, without penalty. Absent any specific direction by the Payor, any
prepayment under this Note shall be applied in direct order of maturity of the amounts owing hereunder. This Note may not be amended, supplemented or otherwise modified except in a writing by the parties hereto. 

For purposes of this Note, an “Event of Default” shall be deemed to have occurred if: (a) within two
(2) business days after the same becomes due, Payor fails to make any payment due hereunder on the date when due; (b) Payor makes a general assignment for the benefit of creditors or admits in writing its inability to pay its debts
generally as they become due; or an order, judgment or decree is entered adjudicating Payor bankrupt or insolvent; or any order for relief with respect to Payor is entered under the Federal Bankruptcy Code; Payor commences any proceeding under any
bankruptcy, reorganization, arrangement, insolvency or readjustment of debt law of any jurisdiction; or any such petition or application is filed, or any such proceeding is commenced, against Payor and either (i) Payor by any act indicates its
approval thereof, consent thereto or acquiescence therein or (ii) such petition, application or proceeding is not dismissed within sixty (60) days; or (c) Payee fails to observe or perform any covenant, obligation, condition or
agreement contained in, or otherwise be in default under this Note, or the Contribution and Purchase Agreement executed on even date herewith between Payor, Payee and the other parties named therein, beyond any applicable notice and cure period.

 If an Event of Default has occurred and is continuing, Payee may declare the aggregate principal amount of this Note (together with
all accrued interest thereon and all other amounts due and payable with respect thereto) shall become immediately due and payable. In addition to any amounts otherwise due, Payor shall pay to Payee all costs of collection, including reasonable
documented attorneys’ fees. 

 After all principal at any time owed on this Note has been paid in full, this Note shall at the
Payor’s request be surrendered to the Payor for cancellation and shall not be reissued. 
 THIS NOTE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR ANY COMPARABLE STATE SECURITIES LAW. NO TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THIS NOTE MAY BE MADE EXCEPT PURSUANT TO (A) A REGISTRATION STATEMENT EFFECTIVE UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN EXEMPTION FROM REGISTRATION THEREUNDER, IF THE PAYOR HAS BEEN FURNISHED WITH SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS MAY REASONABLY BE REQUIRED BY THE PAYOR THAT SUCH TRANSFER,
SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION IS NOT REQUIRED TO BE REGISTERED UNDER THE SECURITIES ACT. 
 EACH PARTY
ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS NOTE IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL
BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS NOTE. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
TO SUCH PARTY THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (III) EACH PARTY MAKES THIS WAIVER VOLUNTARILY AND (III)
EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS EXPRESSED ABOVE. 

THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

Service of any notice by the Payor to Payee or by Payee to the Payor, shall be mailed, postage prepaid by certified United States mail, return
receipt requested, at the address for such party set forth in this Note, or at such subsequent address provided to the other party hereto in the manner set forth in this paragraph for all notices. Any such notice shall be deemed given three days
after deposit thereof in an official depository under the care and custody of the United States Postal Service. 
 Any provision contained
in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

 Payor, on behalf of itself and its respective successors and assigns, hereby waives diligence,
presentment, protest and demand and notice of protest, demand, dishonor and nonpayment of this Note, and expressly agrees that this Note, or any payment hereunder, may be extended from time to time, all without in any way affecting the liability of
Payor hereunder. 
 The Payee by its acceptance of this Note will be deemed to have acknowledged and agreed with the Payor that this Note
represents the final agreement between the Payee and the Payor and may not be contradicted by evidence of prior, contemporaneous or subsequent oral agreements of the parties. 

EXECUTED AND DELIVERED as of the date first above written. 

 

					
	 SUMMIT MATERIALS HOLDINGS L.P.

a Delaware limited partnership

	
	By Summit Materials Holdings GP LTD., as general partner
			
		 	By:	 	  

		 		 	Name:
		 		 	Title:

 [Signature Page to Summit LP Note] 

 Exhibit C 

Form of Registration Rights Agreement 

 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (as amended, restated, supplemented or otherwise modified from time to time, this
“Agreement”) is dated as of [            ], 2015, and is between Summit Materials, Inc., a Delaware corporation (the “Company”) and the
Blackstone Holders (as defined below), the Continental Holders (as defined below) and the other holders of Registrable Securities (as defined below) party hereto. Such holders of Registrable Securities party hereto are collectively referred to
herein as the “Securityholders.” 
 ARTICLE I 

DEFINITIONS 
 In this
Agreement: 
 “Affiliate” has the meaning ascribed thereto in Rule 12b-2 promulgated under the Exchange Act, as in
effect on the date hereof. 
 “Agreement” has the meaning set forth in the preamble. 

“Blackstone” means the entities comprising the Blackstone Holders, their respective Affiliates and the
successors and permitted assigns of the entities and their respective Affiliates. 
 “Blackstone Demand
Notice” has the meaning set forth in Section 2.2(a) hereof. 
 “Blackstone
Holders” means the entities listed on the signature pages hereto under the heading “Blackstone Holders.” 

“Business Day” means a day other than a Saturday, Sunday, federal or New York State holiday or other day on
which commercial banks in New York City are authorized or required by law to close. 
 “Class A Common Stock”
means the shares of Class A common stock, par value $0.01 per share, of the Company, and any other capital stock of the Company into which such common stock is reclassified or reconstituted. 

“Class B Common Stock” means the shares of Class B common stock, par value $0.01 per share, of the Company, and
any other capital stock of the Company into which such common stock is reclassified or reconstituted. 

“Company” has the meaning set forth in the preamble. 

“Continental Demand Notice” has the meaning set forth in Section 2.2(b) hereof. 

“Continental Holders” means the entities listed on the signature pages hereto under the heading
“Continental Holders.” 

 “Control” (including its correlative meanings,
“Controlled by” and “under common Control with”) means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through
ownership of securities or partnership or other ownership interests, by contract or otherwise) of a Person. 
 “Demand
Notice” means each of a Blackstone Demand Notice or a Continental Demand Notice. 
 “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, as the same may be amended from time to time. 

“Exchange Agreement” means the Exchange Agreement, dated as of or about the date hereof, among the Company, the
Partnership and holders of LP Units from time to time party thereto, as amended from time to time. 
 “Exchange
Registration” has the meaning ascribed to such term in Section 2.1(a) hereof. 

“FINRA” means the Financial Industry Regulatory Authority, Inc. 

“IPO” means an underwritten registered public offering of the Company’s Class A Common Stock in
connection with which the Class A Common Stock first becomes listed on a Recognized Exchange. 
 “LP
Units” has the meaning given to such term in the Exchange Agreement. 
 “Partnership”
means Summit Materials Holdings L.P., a Delaware limited partnership. 
 “Partnership Agreement” means the
Fourth Amended and Restated Limited Partnership Agreement of Summit Materials Holdings L.P., dated as of [            ], 2015, as amended, restated, supplemented or modified, from time
to time. 
 “Person” means an individual, a partnership, a corporation, a limited liability company, an
association, a joint stock company, a trust, a joint venture, a cooperative, an unincorporated organization, or other form of business organization, whether or not regarded as a legal entity under applicable law, or any governmental authority or any
department, agency or political subdivision thereof. 
 “Recognized Exchange” means The New York Stock
Exchange or the Nasdaq National Market. 
 “Registrable Securities” means shares of Class A Common Stock
that may be delivered in exchange for LP Units and other shares of Class A Common Stock otherwise held by Securityholders from time to time. For purposes of this Agreement, Registrable Securities shall cease to be Registrable Securities when
(i) a registration statement covering resales of such 

  
 2 

 
Registrable Securities has been declared effective under the Securities Act by the SEC and such Registrable Securities have been disposed of pursuant to such effective registration statement,
(ii) such Registrable Securities are eligible to be sold by Securityholders owning such Registrable Securities (including Registrable Securities deliverable to a Securityholder under an effective Exchange Registration) pursuant to Rule 144 or
145 (or any similar provision then in effect) under the Securities Act, without limitation thereunder on volume or manner of sale, unless such Registrable Securities are held by a Holder that beneficially own Shares representing 5% or more of the
aggregate voting power of shares of Class A Common Stock and Class B Common Stock eligible to vote in the election of directors of the Company or (iii) such Registrable Securities cease to be outstanding (or issuable upon exchange). 

“Registration Expenses” means any and all expenses incurred in connection with the performance of or compliance
with this Agreement, including: 
 (a) all SEC, stock exchange, or FINRA registration and filing fees (including, if applicable, the fees and
expenses of any “qualified independent underwriter,” as such term is defined in Rule 5121 of FINRA, and of its counsel); 
 (b) all
fees and expenses of complying with securities or blue sky laws (including fees and disbursements of counsel for the underwriters in connection with blue sky qualifications of the Registrable Securities); 

(c) all printing, messenger and delivery expenses; 

(d) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange or FINRA and all
rating agency fees; 
 (e) the reasonable fees and disbursements of counsel for the Company and of its independent public accountants,
including the expenses of any special audits and/or “cold comfort” letters required by or incident to such performance and compliance; 

(f) any fees and disbursements of underwriters customarily paid by the issuers or sellers of Securities, including liability insurance if the
Company so desires or if the underwriters so require, and the reasonable fees and expenses of any special experts retained in connection with the requested registration, but excluding underwriting discounts and commissions and transfer taxes, if
any; 
 (g) the reasonable fees and out-of-pocket expenses of not more than one law firm (as selected by Blackstone, if it is participating
in such registration, and otherwise, by Securityholders of a majority of the Registrable Securities included in such registration) incurred by all the Securityholders in connection with the registration; 

(h) the costs and expenses of the Company relating to analyst and investor presentations or any “road show” undertaken in connection
with the registration and/or marketing of the Registrable Securities (including the reasonable out-of-pocket expenses of the Securityholders); and 

(i) any other fees and disbursements customarily paid by the issuers of Securities. 

  
 3 

 “SEC” means the U.S. Securities and Exchange Commission or any
successor agency. 
 “Shares” means shares of Class A Common Stock of the Company. Shares held by or on behalf
of a Securityholder the certificate for which does not bear a Securities Act restrictive legend, which Shares may be resold freely without registration under the Securities Act, will not be considered Shares for purposes of the demand and piggyback
provisions of this Agreement. 
 “Securities” means capital stock, limited partnership interests, limited
liability company interests, beneficial interests, warrants, options, notes, bonds, debentures, and other securities, equity interests, ownership interests and similar obligations of every kind and nature of any Person. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder, as the same may be amended from time to time. 
 “Securityholders” has the meaning set forth in
the preamble. 
 “Subsidiary” means, with respect to any Person, any corporation, limited liability company,
partnership, association or other business entity of which: (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors,
representatives or trustees thereof is at the time owned or Controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof; or (ii) if a limited liability company,
partnership, association or other business entity, a majority of the total voting power of stock (or equivalent ownership interest) of the limited liability company, partnership, association or other business entity is at the time owned or
Controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company,
partnership, association or other business entity if such Person or Persons shall be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or Control the managing director or
general partner of such limited liability company, partnership, association or other business entity. 

“WKSI” means a well-known seasoned issuer, as defined in Rule 405 under the Securities Act. 

ARTICLE II 
 DEMAND AND
PIGGYBACK RIGHTS 
 2.1 Exchange Registration. 

(a) The Company shall use its commercially reasonable efforts to file with the SEC prior to the time that LP Units held by Securityholders
other than Blackstone become available for exchange for Class A Common Stock pursuant to the terms of the Exchange Agreement and cause to be declared effective under the Securities Act by the SEC promptly

  
 4 

 
thereafter, one or more registration statements (the “Exchange Registration”) covering the delivery by the Company from time to time to Securityholders other than
Blackstone of all shares of Class A Common Stock deliverable to such Securityholders in exchange for LP Units pursuant to the Exchange Agreement. 

(b) The Company shall be liable for and pay all Registration Expenses in connection with any Exchange Registration, regardless of whether such
registration is effected. 
 2.2 Right to Demand a Non-Shelf Registered Offering; Continental Demand Rights.

 (a) Upon the written demand of Blackstone made at any time and from time to time (a “Blackstone Demand
Notice”), the Company will facilitate in the manner described in this Agreement a non-shelf registered offering of the Registrable Securities requested by Blackstone to be included in such offering. 

(b) Upon the written demand of one or more of the Continental Holders made at any time following the third anniversary of the consummation of
the Company’s IPO (a “Continental Demand Notice”), the Company will facilitate in the manner described in this Agreement either (i) a non-shelf registered offering of the Registrable Securities requested by
the Continental Holders to be included in such offering, or (ii) an underwritten “takedown” of Registrable Securities off of an effective shelf registration statement, as applicable; provided that (i) the market value,
based on the closing price of the Company’s Class A Common Stock on the Business Day immediately preceding the date of the Continental Demand Notice, of the aggregate amount of Registrable Securities held by the Continental Holders that
are requested in such Demand Notice to be included in such registered offering or underwritten takedown, as applicable, is at least $40,000,000 and (ii) the Continental Holders shall be entitled to only one such registration/takedown. 

(c) Any demanded non-shelf registered offering may, at the Company’s option, include Shares to be sold by the Company for its own account
and will also, other than in connection with the Company’s IPO, include Registrable Securities to be sold by Securityholders that exercise their related piggyback rights pursuant to Section 2.3 hereof and any other Registrable
Securities to be sold by the holders of registration rights granted other than pursuant to this Agreement exercising such rights, in each case, to the extent exercising such rights on a timely basis. In order to be valid, the Demand Notice must
provide the information described in Section 3.1 hereof (if applicable) and Section 4.5 hereof or be followed by such information, when requested as contemplated by Section 4.5 hereof. 

(d) Without limiting any other obligations of the Company hereunder, as soon as reasonably practicable, but in no event later than 60 days
after receiving a valid Demand Notice satisfying the criteria set forth in Section 2.2 hereof, the Company shall file with the SEC a registration statement covering all of the Registrable Securities covered by such Demand Notice as well
as any other Registrable Securities as to which registration is properly requested in accordance with Section 2.3 hereof (which other Registrable Securities may be included by means of a pre-effective amendment) and any other registrable
securities properly requested in accordance with other registration rights agreements with the Company, but subject in each case to any cutbacks imposed in accordance with Section 3.5 hereof and the limitations set forth in
Section 2.7 hereof. 

  
 5 

 2.3 Right to Piggyback on a Non-Shelf Registered Offering. After the
Company’s IPO, in connection with any registered offering of Shares covered by a non-shelf registration statement (whether pursuant to the exercise of demand rights or at the initiative of the Company), the Securityholders may exercise
piggyback rights to have included in such offering Registrable Securities held by them, subject in each case to any cutbacks imposed in accordance with Section 3.5 hereof and the limitations set forth in Section 2.7 hereof;
provided that the Continental Holders shall only be entitled to exercise such piggyback rights in connection with any registered underwritten offering in which Blackstone participates. The Company will facilitate in the manner described in
this Agreement any such non-shelf registered offering. 
 2.4 Right to Demand and be Included in a Shelf
Registration. Upon the demand of Blackstone, made at any time and from time to time when the Company is eligible to utilize Form S-3 or a successor form to sell Shares in a secondary offering on a delayed or continuous basis in
accordance with Rule 415 under the Securities Act, the Company will facilitate in the manner described in this Agreement a shelf registration of Registrable Securities held by the Securityholders. Any shelf registration filed pursuant to this
Section 2.4 by the Company covering Shares (whether pursuant to a demand by Blackstone or at the initiative of the Company) will cover Registrable Securities held by each of the Securityholders (regardless of whether they demanded the
filing of such shelf or not) equal to the percentage of their original respective holdings as is requested by Blackstone with respect to the Registrable Securities of Blackstone to be included in such shelf. If at the time of such request the
Company is a WKSI, such shelf registration shall, upon the approval of the board of directors of the Company, cover an unspecified number of Registrable Securities to be sold by the Company and its Securityholders. 

2.5 Demand and Piggyback Rights for Shelf Takedowns. Upon the demand of (A) Blackstone, made at any time and
from time to time, or (B) the Continental Holders, in accordance with Section 2.2(b) hereof, the Company will facilitate in the manner described in this Agreement a “takedown” of Registrable Securities off of an effective
shelf registration statement. In connection with any underwritten shelf takedown (whether pursuant to the exercise of such demand rights by Blackstone or the Continental Holders, as applicable, or at the initiative of the Company), the
Securityholders may exercise piggyback rights to have included in such takedown Registrable Securities held by them that are registered on such shelf; provided that the Continental Holders shall only be entitled to exercise such piggyback
rights in connection with any underwritten shelf takedown in which Blackstone participates. 
 2.6 Right to Reload a
Shelf. Upon the approval of the board of directors of the Company, the Company will file and seek the effectiveness of a post-effective amendment to an existing shelf in order to register up to the number of Registrable
Securities previously taken down off of such shelf by all Securityholders and not yet “reloaded” onto such shelf. The board of directors of the Company (or certain designated members thereof) will consult and coordinate with Blackstone in
order to accomplish such replenishments from time to time in a sensible manner. 

  
 6 

 2.7 Limitations on Demand and Piggyback Rights. 

(a) Any demand for the filing of a registration statement or for a registered offering or takedown, and the exercise of any piggyback
registration rights, will be subject to the constraints of any applicable lockup arrangements, and any such demand must be deferred until such lockup arrangements no longer apply. If a demand has been made for a non-shelf registered offering or for
an underwritten takedown, no further demands may be made so long as the related offering is still being pursued. Notwithstanding anything in this Agreement to the contrary, the Securityholders will not have piggyback or other registration rights
with respect to the following registered primary offerings by the Company: (i) a registration relating solely to employee benefit plans; (ii) a registration on Form S-4 or S-8 (or other similar successor forms then in effect under the
Securities Act); (iii) a registration pursuant to which the Company is offering to exchange its own Securities for other Securities; (iv) a registration statement relating solely to dividend reinvestment or similar plans; (v) a shelf
registration statement pursuant to which only the initial purchasers and subsequent transferees of debt securities of the Company or any Subsidiary that are convertible for Interests or Common Stock and that are initially issued pursuant to Rule
144A and/or Regulation S of the Securities Act may resell such notes and sell the common equity into which such notes may be converted; (vi) a registration where the Registrable Securities are not being sold for cash or (vii) an Exchange
Registration. 
 (b) The Company may postpone the filing of a demanded registration statement (other than in connection with the
Company’s IPO) or suspend the effectiveness of any shelf registration statement for a reasonable “blackout period” not in excess of 90 days if the board of directors of the Company determines in good faith that such registration or
offering could materially interfere with a bona fide business, acquisition or divestiture or financing transaction of the Company or is reasonably likely to require premature disclosure of information, the premature disclosure of which could
materially and adversely affect the Company; provided that the Company shall not delay the filing of any demanded registration statement more than once in any 12-month period. The blackout period will end upon the earlier to occur of,
(i) in the case of a bona fide business, acquisition or divestiture or financing transaction, a date not later than 90 days from the date such deferral commenced, and (ii) in the case of disclosure of non-public information, the
earlier to occur of (x) the filing by the Company of its next succeeding Form 10-K or Form 10-Q, or (y) the date upon which such information is otherwise disclosed. 

ARTICLE III 
 NOTICES,
CUTBACKS AND OTHER MATTERS 
 3.1 Notifications Regarding Registration Statements. In order for
Blackstone or the Continental Holders, as applicable, to exercise their right to demand that a registration statement be filed, they must include in their Demand Notice the number of Registrable Securities sought to be registered and the proposed
plan of distribution. 

  
 7 

 3.2 Notifications Regarding Registration Piggyback Rights. 

(a) In the event that the Company receives (i) any demand from Blackstone or the Continental Holders, as applicable, pursuant to
Section 2.2 hereof, or (ii) if the Company files a registration statement with respect to a non-shelf registered offering, the Company will promptly give to each of the Securityholders a written notice thereof no later than 5:00
p.m., New York City time, on the fifth Business Day following receipt by the Company of such demand or the filing of such registration statement, as applicable. Any Securityholder wishing to exercise its piggyback rights with respect to any such
non-shelf registration statement must notify the Company and the other Securityholders of the number of Registrable Securities it seeks to have included in such registration statement in a written notice. Such notice must be given as soon as
practicable, but in no event later than 5:00 p.m., New York City time, on the second Business Day prior to (i) if applicable, the date on which the preliminary prospectus intended to be used in connection with pre-effective marketing efforts
for the relevant offering is expected to be finalized, and (ii) in any case, the date on which the pricing of the relevant offering is expected to occur. No such notice is required in connection with a shelf registration statement, as
Registrable Securities held by all Securityholders will be included up to the applicable percentage. 
 (b) Pending any required public
disclosure and subject to applicable legal requirements, the parties will maintain appropriate confidentiality of their discussions regarding a prospective non-shelf registration. 

3.3 Notifications Regarding Demanded Underwritten Takedowns. 

(a) The Company will keep the Securityholders reasonably apprised of all pertinent aspects of any underwritten shelf takedown demanded by
Blackstone or the Continental Holders, as applicable, in order that Securityholders may have a reasonable opportunity to exercise their related piggyback rights. Without limiting the Company’s obligation as described in the preceding sentence,
having a reasonable opportunity requires that the Securityholders be notified by the Company of an anticipated underwritten takedown (whether pursuant to a demand made by Blackstone or the Continental Holders, as applicable, or made at the
Company’s own initiative) no later than 5:00 p.m., New York City time, on (i) if applicable, the second Business Day prior to the date on which the preliminary prospectus or prospectus supplement intended to be used in connection with
pre-pricing marketing efforts for such takedown is finalized, and (ii) in all cases, the second Business Day prior to the date on which the pricing of the relevant takedown occurs. 

(b) Any Securityholder wishing to exercise its piggyback rights with respect to an underwritten shelf takedown must notify the Company and the
other Securityholders of the number of Registrable Securities it seeks to have included in such takedown. Such notice must be given as soon as practicable, but in no event later than 5:00 p.m., New York City time, on (i) if applicable, the
Business Day prior to the date on which the preliminary prospectus or prospectus supplement intended to be used in connection with marketing efforts for the relevant offering is expected to be finalized, and (ii) in all cases, the Business Day
prior to the date on which the pricing of the relevant takedown occurs. 

  
 8 

 (c) Pending any required public disclosure and subject to applicable legal requirements, the
parties will maintain appropriate confidentiality of their discussions regarding a prospective underwritten takedown. 
 3.4
Plan of Distribution, Underwriters, Advisors and Counsel. If a majority of the Registrable Securities proposed to be sold in an underwritten offering through a non-shelf registration statement or through a shelf takedown is
being sold by the Company for its own account, the Company will be entitled to determine the plan of distribution and select the managing underwriters and any provider of advisory services, which may include Affiliates of Blackstone, for such
offering. Otherwise, Blackstone, if participating in such offering (or Securityholders holding a majority of the Shares requested to be included if Blackstone is not participating in such offering), will be entitled to determine the plan of
distribution and select the managing underwriters and any provider of advisory services, which may include Affiliates of Blackstone; provided that such investment banker or bankers, managers and providers of advisory services shall be
reasonably satisfactory to the Company), and will also be entitled to select counsel for the selling Securityholders (which may be the same as counsel for the Company). 

3.5 Cutbacks. If the managing underwriters advise the Company and the selling Securityholders that, in their
opinion, the number of Registrable Securities requested to be included in an underwritten offering exceeds the amount that can be sold in such offering without adversely affecting the distribution of the Registrable Securities being offered, the
price that will be paid in such offering or the marketability thereof, such offering will include only the number of Registrable Securities that the underwriters advise can be sold in such offering. If the Company is selling Registrable Securities
for its own account in such offering and the offering is not being made on account of a demand made by Blackstone or the Continental Holders, as applicable, pursuant to Section 2.2 hereof, the Company will have first priority. To the
extent of any remaining capacity, and in all other cases, the selling Securityholders (and any other Persons having registration rights pari passu with the Securityholders and participating in such offering) and the Company will be subject to
cutback pro rata based on the number of Registrable Securities initially requested by them to be included in such offering, without distinguishing between Securityholders (or other Persons exercising pari passu registration rights)
based on who made the demand for such offering or otherwise. 
 3.6 Withdrawals. Even if Registrable
Securities held by a Securityholder have been part of a registered underwritten offering, such Securityholder may, no later than the time at which the public offering price and underwriters’ discount are determined with the managing
underwriter, decline to sell all or any portion of the Registrable Securities being offered for its account. 
 3.7
Lockups. In connection with any underwritten offering of Shares, the Company and each Securityholder will agree (in the case of Securityholders, with respect to Registrable Securities respectively held by them) to be bound by
the underwriting agreement’s lockup restrictions (which must apply in like manner to all of them) that are agreed to by the Company. In addition, the Securityholders shall be bound by their obligations with respect to any lockup arrangements or
other restrictions on transfer of Registrable Securities set forth in the Partnership Agreement. 

  
 9 

 ARTICLE IV 

FACILITATING REGISTRATIONS AND OFFERINGS 

4.1 General. If the Company becomes obligated under this Agreement to facilitate a registration and offering of
Registrable Securities on behalf of Securityholders, the Company will do so with the same degree of care and dispatch as would reasonably be expected in the case of a registration and offering by the Company of Registrable Securities for its own
account. Without limiting this general obligation, the Company will fulfill its specific obligations as described in this Article IV. 

4.2 Registration Statements. In connection with each registration statement that is demanded by Securityholders in
accordance with this Agreement or as to which piggyback rights otherwise apply, the Company will: 
 (a) (1) prepare and file with the
SEC a registration statement on an appropriate form covering the applicable Registrable Securities, (2) file amendments thereto as warranted, (3) seek the effectiveness thereof, and (4) file with the SEC prospectuses and prospectus
supplements as may be required, all in consultation with Blackstone and as reasonably necessary in order to permit the offer and sale of the such Registrable Securities in accordance with the applicable plan of distribution; 

(b) (1) within a reasonable time prior to the filing of any registration statement, any prospectus, any amendment to a registration
statement, amendment or supplement to a prospectus or any free writing prospectus (in each case including all exhibits filed therewith), provide copies of such documents to the selling Securityholders and to the underwriter or underwriters of an
underwritten offering, if applicable, and to their respective counsel; fairly consider such reasonable changes in any such documents prior to or after the filing thereof as the counsel to the Securityholders or the underwriter or the underwriters
may request; and make such of the representatives of the Company as shall be reasonably requested by the selling Securityholders or any underwriter available for discussion of such documents; and (2) within a reasonable time prior to the
filing of any document which is to be incorporated by reference into a registration statement or a prospectus, provide copies of such document to counsel for the Securityholders and underwriters; fairly consider such reasonable changes in such
document prior to or after the filing thereof as counsel for such Securityholders or such underwriter shall request; and make such of the representatives of the Company as shall be reasonably requested by such counsel available for discussion of
such document; 
 (c) use all reasonable efforts to cause each registration statement and the related prospectus and any amendment or
supplement thereto, as of the effective date of such registration statement, amendment or supplement and during the distribution of the registered Registrable Securities (x) to comply in all material respects with the requirements of the
Securities Act (including the rules and regulations promulgated thereunder) and (y) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein not misleading; 

  
 10 

 (d) notify each Securityholder promptly, and, if requested by such Securityholder, confirm such
advice in writing, (i) when a registration statement has become effective and when any post-effective amendments and supplements thereto become effective if such registration statement or post-effective amendment is not automatically effective
upon filing pursuant to Rule 462 under the Securities Act, (ii) of the issuance by the SEC or any state securities authority of any stop order, injunction or other order or requirement suspending the effectiveness of a registration statement or
the initiation of any proceedings for that purpose, (iii) if, between the effective date of a registration statement and the closing of any sale of securities covered thereby pursuant to any agreement to which the Company is a party, the
representations and warranties of the Company contained in such agreement cease to be true and correct in all material respects or if the Company receives any notification with respect to the suspension of the qualification of the Registrable
Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, and (iv) of the happening of any event during the period a registration statement is effective as a result of which such registration statement or the
related prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading; 

(e) furnish counsel for each underwriter, if any, and for the Securityholders copies of any correspondence with the SEC or any state securities
authority relating to the registration statement or prospectus; 
 (f) otherwise use all reasonable efforts to comply with all applicable
rules and regulations of the SEC, including making available to its security holders an earnings statement covering at least 12 months which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any
similar provision then in force); and 
 (g) use all reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of
a registration statement at the earliest possible time. 
 4.3 Non-Shelf Registered Offerings and Shelf
Takedowns. In connection with any non-shelf registered offering or shelf takedown that is demanded by Securityholders or as to which piggyback rights otherwise apply, the Company will: 

(a) cooperate with the selling Securityholders and the sole underwriter or managing underwriter of an underwritten offering, if any, to
facilitate the timely preparation and delivery of certificates representing the Registrable Securities to be sold and not bearing any restrictive legends; and enable such Registrable Securities to be in such denominations (consistent with the
provisions of the governing documents thereof) and registered in such names as the selling Securityholders or the sole underwriter or managing underwriter of an underwritten offering of Registrable Securities, if any, may reasonably request at least
five days prior to any sale of such Registrable Securities; 
 (b) furnish to each Securityholder and to each underwriter, if any,
participating in the relevant offering, without charge, as many copies of the applicable prospectus, including each preliminary prospectus, and any amendment or supplement thereto and such other documents as such Securityholder or underwriter may
reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities; the Company hereby consents to the use of the prospectus, including each preliminary prospectus, by each such Securityholder and
underwriter in connection with the offering and sale of the Registrable Securities covered by the prospectus or the preliminary prospectus; 

  
 11 

 (c) (1) use all reasonable efforts to register or qualify the Registrable Securities being
offered and sold, no later than the time the applicable registration statement becomes effective, under all applicable state securities or blue sky laws of such jurisdictions as each underwriter, if any, or any Securityholder holding Registrable
Securities covered by a registration statement, shall reasonably request; (2) use all reasonable efforts to keep each such registration or qualification effective during the period such registration statement is required to be kept
effective; and (3) do any and all other acts and things which may be reasonably necessary or advisable to enable each such underwriter, if any, and Securityholder to consummate the disposition in each such jurisdiction of such Registrable
Securities owned by such Securityholder; provided, however, that the Company shall not be obligated to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to consent to
be subject to general service of process (other than service of process in connection with such registration or qualification or any sale of Registrable Securities in connection therewith) in any such jurisdiction; 

(d) cause all Registrable Securities being sold to be qualified for inclusion in or listed on any Recognized Exchange on which Registrable
Securities issued by the Company are then so qualified or listed if so requested by the Securityholders, or if so requested by the underwriter or underwriters of an underwritten offering of Registrable Securities, if any; 

(e) cooperate and assist in any filings required to be made with FINRA and in the performance of any due diligence investigation by any
underwriter in an underwritten offering; 
 (f) use all reasonable efforts to facilitate the distribution and sale of any Registrable
Securities to be offered pursuant to this Agreement, including without limitation by making “road show” presentations, holding meetings with and making calls to potential investors and taking such other actions as shall be requested by the
Securityholders or the lead managing underwriter of an underwritten offering; 
 (g) in the case of an offering that includes a provider of
advisory services, enter into and perform its obligations under customary agreements (including an advisory services agreement and an indemnification agreement in customary form); and 

(h) enter into customary agreements (including, in the case of an underwritten offering, underwriting agreements in customary form, and
including provisions with respect to indemnification and contribution in customary form and consistent with the provisions relating to indemnification and contribution contained herein) and take all other customary and appropriate actions in order
to expedite or facilitate the disposition of such Registrable Securities and in connection therewith: 

  
 12 

 (1) make such representations and warranties to the selling Securityholders and the underwriters,
if any, in form, substance and scope as are customarily made by issuers to underwriters in similar underwritten offerings; 
 (2) obtain
opinions of counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the lead managing underwriter, if any) addressed to each selling Securityholder and the
underwriters, if any, covering the matters customarily covered in opinions requested in sales of securities or underwritten offerings and such other matters as may be reasonably requested by such Securityholders and underwriters; 

(3) obtain “cold comfort” letters and updates thereof from the Company’s independent certified public accountants addressed to
the selling Securityholders, if permissible, and the underwriters, if any, which letters shall be customary in form and shall cover matters of the type customarily covered in “cold comfort” letters to underwriters in connection with
primary underwritten offerings; and 
 (4) to the extent requested and customary for the relevant transaction, enter into a Securities sales
agreement with the Securityholders providing for, among other things, the appointment of such representative as agent for the selling Securityholders for the purpose of soliciting purchases of Registrable Securities, which agreement shall be
customary in form, substance and scope and shall contain customary representations, warranties and covenants; and 
 The above shall be done at such times
as customarily occur in similar registered offerings or shelf takedowns. 
 4.4 Due Diligence. In connection
with each registration and offering of Registrable Securities to be sold by Securityholders, the Company will, in accordance with customary practice, make available for inspection by representatives of the Securityholders and underwriters and any
counsel or accountant retained by such Securityholders or underwriters all relevant financial and other records, pertinent corporate documents and properties of the Company and cause appropriate officers, managers, employees, outside counsel and
accountants of the Company to supply all information reasonably requested by any such representative, underwriter, counsel or accountant in connection with their due diligence exercise, including through in-person meetings, but subject to customary
privilege constraints. 
 4.5 Information from Securityholders. Each Securityholder that holds Registrable Securities
covered by any registration statement will furnish to the Company such information regarding itself as is required to be included in the registration statement or is otherwise required by FINRA or the SEC in connection with such registration
statement, the ownership of Registrable Securities by such Securityholder and the proposed distribution by such Securityholder of such Registrable Securities as the Company may from time to time reasonably request in writing. 

4.6 Expenses. All Registration Expenses incurred in connection with any registration statement or registered
offering covering Registrable Securities held by the Securityholders will be borne by the Company. However, underwriters’, brokers’ and dealers’ discounts and commissions applicable to Registrable Securities sold for the account of a
Securityholder will be borne by such Securityholder. 

  
 13 

 ARTICLE V 

INDEMNIFICATION 
 5.1
Indemnification by the Company. In the event of any registration under the Securities Act by any registration statement pursuant to rights granted in this Agreement of Registrable Securities held by Securityholders, the
Company will indemnify and hold harmless Securityholders, their officers, directors and affiliates, and each underwriter of such securities and each other Person, if any, who Controls any Securityholder or such underwriter within the meaning of the
Securities Act, against any losses, claims, damages, or liabilities (including legal fees and costs of court), joint or several, to which Securityholders or such underwriter or controlling Person may become subject under the Securities Act or
otherwise, including any amount paid in settlement of any litigation commenced or threatened, and shall promptly reimburse such Persons, as and when incurred, for any legal or other expenses reasonably incurred by them in connection with
investigating any claims and defending any actions, insofar as such losses, claims, damages, or liabilities (or any actions in respect thereof) arise out of or are based upon any violation or alleged violation by the Company of the Securities Act,
any blue sky laws, securities laws or other applicable laws of any state or country in which such Shares are offered and relating to action taken or action or inaction required of the Company in connection with such offering, or arise out of or are
based upon any untrue statement or alleged untrue statement of any material fact (i) contained, on its effective date, in any registration statement under which such securities were registered under the Securities Act or any amendment or
supplement to any of the foregoing, or which arise out of or are based upon the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading or (ii) contained in
any preliminary prospectus, if used prior to the effective date of such registration statement, or in the final prospectus (as amended or supplemented if the Company shall have filed with the SEC any amendment or supplement to the final prospectus),
or which arise out of or are based upon the omission or alleged omission to state a material fact required to be stated in such prospectus or necessary to make the statements in such prospectus not misleading; and will reimburse Securityholders and
each such underwriter and each such controlling Person for any legal or any other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, or liability; provided, however, that
the Company shall not be liable to any Securityholder or its underwriters or controlling Persons in any such case to the extent that any such loss, claim, damage, or liability arises out of or is based upon an untrue statement or alleged untrue
statement or omission or alleged omission made in such registration statement or such amendment or supplement, in reliance upon and in conformity with information furnished to the Company through a written instrument duly executed by Securityholders
or such underwriter specifically for use in the preparation thereof. 
 5.2 Indemnification by Securityholders.
Each Securityholder as a condition to including Registrable Securities in such registration statement will indemnify and hold harmless (in the same manner and to the same extent as set forth in Section 5.1 hereof) the Company, each
director of the Company, each officer of the Company who shall sign the 

  
 14 

 
registration statement, and any Person who Controls the Company within the meaning of the Securities Act, (i) with respect to any statement or omission from such registration statement, or
any amendment or supplement to it, if such statement or omission was made in reliance upon and in conformity with information furnished to the Company through a written instrument duly executed by such Securityholder specifically regarding such
Securityholder for use in the preparation of such registration statement or amendment or supplement, and (ii) with respect to compliance by such Securityholder with applicable laws in effecting the sale or other disposition of the securities
covered by such registration statement. 
 5.3 Indemnification Procedures. Promptly after receipt by an indemnified party
of notice of the commencement of any action involving a claim referred to in Section 5.1 and Section 5.2 hereof, the indemnified party will, if a claim in respect thereof is to be made or may be made against an indemnifying
party, give written notice to such indemnifying party of the commencement of the action. The failure of any indemnified party to give notice shall not relieve the indemnifying party of its obligations in this Article V, except to the extent
that the indemnifying party is actually prejudiced by the failure to give notice. If any such action is brought against an indemnified party, the indemnifying party will be entitled to participate in and to assume the defense of the action with
counsel reasonably satisfactory to the indemnified party, and after notice from the indemnifying party to such indemnified party of its election to assume defense of the action, the indemnifying party will not be liable to such indemnified party for
any legal or other expenses incurred by the latter in connection with the action’s defense other than reasonable costs of investigation. An indemnified party shall have the right to employ separate counsel in any action or proceeding and
participate in the defense thereof, but the fees and expenses of such counsel shall be at such indemnified party’s expense unless (i) the employment of such counsel has been specifically authorized in writing by the indemnifying party,
which authorization shall not be unreasonably withheld, (ii) the indemnifying party has not assumed the defense and employed counsel reasonably satisfactory to the indemnified party within thirty (30) days after notice of any such action
or proceeding, or (iii) the named parties to any such action or proceeding (including any impleaded parties) include the indemnified party and the indemnifying party and the indemnified party shall have been advised by such counsel that there
may be one or more legal defenses available to the indemnified party that are different from or additional to those available to the indemnifying party (in which case the indemnifying party shall not have the right to assume the defense of such
action or proceeding on behalf of the indemnified party), it being understood, however, that the indemnifying party shall not, in connection with any one such action or separate but substantially similar or related actions in the same jurisdiction
arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm of attorneys (in addition to all local counsel which is necessary, in the good faith opinion of both counsel
for the indemnifying party and counsel for the indemnified party in order to adequately represent the indemnified parties) for the indemnified party and that all such fees and expenses shall be reimbursed as they are incurred upon written request
and presentation of invoices. Whether or not a defense is assumed by the indemnifying party, the indemnifying party will not be subject to any liability for any settlement made without its consent (not to be unreasonably withheld). No indemnifying
party will consent to entry of any judgment or enter into any settlement which (i) does not include as an unconditional term the giving by the claimant or plaintiff, to the indemnified party, of a release from all liability in respect of such
claim or litigation or (ii) involves the imposition of equitable remedies or the imposition of any non-financial obligations on the indemnified party. 

  
 15 

 5.4 Contribution. If the indemnification required by this Article V
from the indemnifying party is unavailable to or insufficient to hold harmless an indemnified party in respect of any indemnifiable losses, claims, damages, liabilities, or expenses, then the indemnifying party shall contribute to the amount paid or
payable by the indemnified party as a result of such losses, claims, damages, liabilities, or expenses in such proportion as is appropriate to reflect (i) the relative benefit of the indemnifying and indemnified parties and (ii) if the
allocation in clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect the relative benefit referred to in clause (i) and also the relative fault of the indemnified and indemnifying parties, in
connection with the actions which resulted in such losses, claims, damages, liabilities, or expenses, as well as any other relevant equitable considerations. The relative benefits received by a party shall be deemed to be in the same proportion as
the total net proceeds from the offering (before deducting expenses) received by it bear to the total amounts (including, in the case of any underwriter, any underwriting commissions and discounts) received by each other party. The relative fault of
the indemnifying party and the indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact, has been made by, or relates to
information supplied by, such indemnifying party or parties, and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such action. The amount paid or payable by a party as a result of the losses,
claims, damage, liabilities, and expenses referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such party in connection with any investigation or proceeding. The Company and Securityholders agree
that it would not be just and equitable if contribution pursuant to this Section 5.4 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable
considerations referred to in the prior provisions of this Section 5.4. 
 Notwithstanding the provisions of this
Section 5.4, no indemnifying party shall be required to contribute any amount in excess of the amount by which the total price at which the securities were offered to the public by such indemnifying party exceeds the amount of any
damages which such indemnifying party has otherwise been required to pay by reason of an untrue statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any Person who was not guilty of such a fraudulent misrepresentation. 
 ARTICLE VI  

OTHER AGREEMENTS 
 6.1
Assignment. Neither the Company nor any Securityholder shall assign all or any part of this Agreement without the prior written consent of the Company and Blackstone; provided, however, that without the prior written
consent of the Company, Blackstone may assign its rights and obligations under this Agreement in whole or in part to (x) any of its Affiliates and/or (y) any Person who becomes a holder of Registrable Securities upon a distribution by
Blackstone of shares of Class A Common Stock or LP Units to its members, limited partners or stockholders that becomes a party hereto by executing and delivering an assignment and joinder agreement to the Company, substantially in the form of
Exhibit A to this Agreement. Except as otherwise provided herein, this Agreement will inure to the benefit of and be binding on the parties hereto and their respective successors and permitted assigns. 

  
 16 

 6.2 Merger or Consolidation. In the event the Company engages in a merger or
consolidation in which the Registrable Securities are converted into securities of another company, appropriate arrangements will be made so that the registration rights provided under this Agreement continue to be provided to Securityholders by the
issuer of such securities. To the extent such new issuer, or any other company acquired by the Company in a merger or consolidation, was bound by registration rights obligations that would conflict with the provisions of this Agreement, the Company
will, unless Securityholders then holding at least 90% of the Registrable Securities otherwise agree, use its commercially reasonable efforts to modify any such “inherited” registration rights obligations so as not to interfere in any
material respects with the rights provided under this Agreement. To the extent any such modification of “inherited” registration rights disproportionately and adversely impacts any Securityholder hereunder, such modification shall not be
effective as to such Securityholder without the consent of such Securityholder. 
 6.3 Limited Liability. Notwithstanding
any other provision of this Agreement, neither the members, general partners, limited partners or managing directors, or any directors or officers of any members, general or limited partner, advisory director, nor any future members, general
partners, limited partners, advisory directors, or managing directors, if any, of any Securityholder shall have any personal liability for performance of any obligation of such Securityholder under this Agreement in excess of the respective capital
contributions of such members, general partners, limited partners, advisory directors or managing directors to such Securityholder. 

6.4 Rule 144. If the Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act, the
Company covenants that it will file any reports required to be filed by it under the Securities Act and the Exchange Act (or, if the Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act but is not required to
file such reports, it will, upon the request of any Securityholder, make publicly available such information) and it will take such further action as any Securityholder may reasonably request, so as to enable such Securityholder to sell Registrable
Securities without registration under the Securities Act within the limitation of the exemptions provided by (a) Rule 144 under the Securities Act, as such Rule may be amended from time to time, or (b) any similar rule or regulation
hereafter adopted by the SEC. Upon the request of any Securityholder, the Company will deliver to such Securityholder a written statement as to whether it has complied with such requirements. For the avoidance of doubt, this Section 6.4
shall not in any way limit or otherwise modify any applicable restrictions on transfer set forth in the Partnership Agreement. 
 6.5
In-Kind Distributions. If any Securityholder seeks to effectuate an in-kind distribution of all or part of its Registrable Securities to its direct or indirect equityholders, the Company will, subject to applicable lockups, work with
such Securityholder and the Company’s transfer agent to facilitate such in-kind distribution in the manner reasonably requested by such Securityholder. 

  
 17 

 ARTICLE VII 

MISCELLANEOUS 
 7.1
Notices. All notices, requests, demands and other communications required or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, telex, fax or air courier guaranteeing delivery to the Persons
at the respective addresses set forth below or pursuant to such other instructions as may be designated in writing by the party to receive such notice. 
  

	 	(a)	If to the Company, to: 

 Summit Materials, Inc. 

1550 Wynkoop, 3rd Floor 

Denver, Colorado 80202 

Attention: Chief Legal Officer 

Fax: (303) 893-6993 

E-mail: [Anne.Benedict@summit-materials.com] 

with a copy (not constituting notice) to: 

Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 
 New York,
New York 10017 
 Attention: Edward P. Tolley III and Edgar J. Lewandowski 

Fax: (212) 455-2502 

E-mail: etolley@stblaw.com and elewandowski@stblaw.com 
  

	 	(b)	If to Blackstone, to: 

 The Blackstone Group L.P. 

345 Park Avenue 
 New York, New
York 10154 
 Attention: Neil P. Simpkins 

Fax: [            ] 

[E-mail:] 
 with a copy (not
constituting notice) to: 
 Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 
 New York,
New York 10017 
 Attention: Wilson S. Neely 

Fax: (212) 455-2502 

E-mail: wneely@stblaw.com 

  
 18 

	 	(c)	If to the Continental Holders, to: 

[            ] 

with a copy (not constituting notice) to: 

[            ] 

Any such notice, request, demand or other communication shall be deemed to have been duly given (a) on the date of delivery if delivered
personally or by facsimile or electronic transmission, (b) on the first Business Day after being sent if delivered by nationally recognized overnight delivery service and (c) upon the earlier of actual receipt thereof or five Business Days
after the date of deposit in the United States mail if delivered by mail. 
 7.2 Section Headings. The article and
section headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. References in this Agreement to a designated “Article” or “Section” refer to an Article or
Section of this Agreement unless otherwise specifically indicated. 
 7.3 Governing Law. This Agreement shall be governed
by, and construed and enforced in accordance with, the laws of the State of New York. 
 7.4 Consent to Jurisdiction and Service
of Process; Waiver of Jury Trial. 
 (a) The parties to this Agreement hereby agree to submit to the jurisdiction of the courts of
the State of New York, the courts of the United States of America for the Southern District of New York, and appellate courts from any thereof in any action or proceeding arising out of or relating to this Agreement. 

(b) EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED
TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 7.5 Amendments. 

(a) This Agreement may be amended only by an instrument in writing executed by the Company and Securityholders holding at least a majority of
the Registrable Securities collectively held by them; provided that any amendment that would adversely impact the rights hereunder of Blackstone or the Continental Holders shall require the prior written consent of Blackstone or the
Continental Holders holding a majority of the Registrable Securities collectively held by them, as applicable; provided, further, that any amendment that would disproportionately and adversely impact (i) the rights hereunder of
the Securityholders party hereto other than Blackstone without similarly affecting the rights hereunder of Blackstone (other than the granting of demand rights to any new party to become a Securityholder hereunder and rights incidental thereto)
shall require the prior approval of a such Securityholders other than Blackstone holding a majority of the Registrable Securities held by such Securities, (ii) the rights hereunder of any Securityholder other than Blackstone without similarly
affecting the rights hereunder of all other Securityholders other than Blackstone shall require the prior written consent of such Securityholder. This Agreement will terminate as to any Securityholder when it no longer holds any Registrable
Securities. 

  
 19 

 (b) Notwithstanding anything in Section 7.5(a) hereof to the contrary, if the Company
at any time after the date of this Agreement grants to any other holders of its securities (other than any new Blackstone Holders becoming party hereto after the date hereof) any rights to request or cause the Company to effect the registration
under the Securities Act or offering or sale of any such securities on any terms materially more favorable to such holders than the terms set forth in this Agreement, the terms of this Agreement shall, upon the request of Blackstone, be deemed
amended or supplemented to the extent necessary to provide Blackstone such more favorable rights and benefits, and, at the election and sole discretion of Blackstone (as evidenced by a written notice to the Company), shall be deemed amended or
supplemented to the extent necessary to provide to the Securityholders party hereto other than Blackstone those more favorable rights and benefits as selected by Blackstone to be provided to such other Securityholders and set forth in such written
notice. 
 7.6 Entire Agreement. This Agreement contains the entire understanding of the parties with respect to the
subject matter hereof. The registration rights granted under this Agreement supersede any registration, qualification or similar rights with respect to any of the Registrable Securities granted under any other agreement, and any of such preexisting
registration rights are hereby terminated. 
 7.7 Severability. The invalidity or unenforceability of any specific
provision of this Agreement shall not invalidate or render unenforceable any of its other provisions. Any provision of this Agreement held invalid or unenforceable shall be deemed reformed, if practicable, to the extent necessary to render it valid
and enforceable and to the extent permitted by law and consistent with the intent of the parties to this Agreement. 
 7.8
Counterparts. This Agreement may be executed in multiple counterparts, including by means of facsimile, each of which shall be deemed an original, but all of which together shall constitute the same instrument. 

7.9 Additional Holders. Notwithstanding anything herein to the contrary, the Company may from time to time add additional
holders of Registrable Securities of the Company as parties to this Agreement with the consent of Blackstone and without the consent or additional signatures of any other holders of Registrable Securities hereunder. In order to become a party to
this Agreement, such additional party must execute a signature page evidencing such party’s agreement to be bound hereby as a Securityholder (but not Blackstone, unless Blackstone consents in writing thereto), and upon the Company’s
receipt of any such additional holder’s executed signature page hereto, such additional holder shall be deemed to be a party hereto and such additional signature pages shall be a part of this Agreement. 

  
 20 

 7.10 Equitable Remedies. The parties hereto agree that irreparable harm would occur
in the event that any of the agreements and provisions of this Agreement were not performed fully by the parties hereto in accordance with their specific terms or conditions or were otherwise breached, and that money damages are an inadequate remedy
for breach of this Agreement because of the difficulty of ascertaining and quantifying the amount of damage that will be suffered by the parties hereto in the event that this Agreement is not performed in accordance with its terms or conditions or
is otherwise breached. It is accordingly hereby agreed that the parties hereto shall be entitled to an injunction or injunctions to restrain, enjoin and prevent breaches of this Agreement by the other parties and to enforce specifically the terms
and provisions hereof in any court of the United States or any state having jurisdiction, such remedy being in addition to and not in lieu of, any other rights and remedies to which the other parties are entitled to at law or in equity. 

[Remainder of page intentionally left blank] 

  
 21 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written
above. 
  

			
	COMPANY:
	
	SUMMIT MATERIALS, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	BLACKSTONE HOLDERS:
	
	[SIGNATURE BLOCKS TO COME]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	CONTINENTAL HOLDERS:
	
	[SIGNATURE BLOCKS TO COME]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	OTHER SECURITYHOLDERS:
	
	[SIGNATURE BLOCKS TO COME]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Exhibit A 

FORM OF ASSIGNMENT AND JOINDER 

[            ], 20     

Reference is made to the Registration Rights Agreement, dated as of [            ]
2015, by and among Summit Materials, Inc. (the “Company”), the Blackstone Holders (as defined therein) and the other parties thereto (the “Registration Rights Agreement”). Capitalized terms used but
not otherwise defined herein shall have the meanings ascribed to such terms in the Registration Rights Agreement. 
 Pursuant to
Section 6.1 of the Registration Rights Agreement, [            ] (the “Assignor”) in its capacity as a Blackstone Holder in the Registration Rights
Agreement hereby assigns [in part][or: in full] its rights and obligations under the Registration Rights Agreement to each of [            ],
[            ] and [            ] (each, an “Assignee” and collectively, the
“Assignees”). [For the avoidance of doubt, the Assignor will remain a party to the Registration Rights Agreement following the assignment in part of its rights and obligations thereunder to the undersigned Assignees.] 

Each undersigned Assignee hereby agrees to and does become party to the Registration Rights Agreement as a Blackstone Holder and
Securityholder. This assignment and joinder shall serve as a counterpart signature page to the Registration Rights Agreement and by executing below each undersigned Assignee is deemed to have executed the Registration Rights Agreement with the same
force and effect as if originally named a party thereto and each Assignee’s shares of Class A Common Stock shall be included as Registrable Securities under the Registration Rights Agreement. 

[Remainder of Page Intentionally Left Blank.] 

 IN WITNESS WHEREOF, the undersigned have duly executed this assignment and joinder as of date
first set forth above. 
  

			
	ASSIGNOR:
	
	[            ]
		
	By:	 	  

		 	Name:
		 	Title:
	
	ASSIGNEE(S):
	
	[            ]
		
	By:	 	  

		 	Name:
		 	Title:

 Exhibit D 

Form of Summit Holdings LLC Agreement 

 AMENDED AND RESTATED 

LIMITED LIABILITY COMPANY AGREEMENT 

OF 
 SUMMIT OWNER HOLDCO
LLC 
 Dated as of             , 2015 

This Amended and Restated Limited Liability Company Agreement (this “Agreement”) of Summit Owner Holdco LLC is
entered into by Summit Materials Holding GP LTD, a Delaware limited partnership (the “Summit GP”), Missouri Materials Company, L.L.C., J & J Midwest Group, L.L.C., R. Michael Johnson Family Limited Liability Company,
Thomas A. Beck Family, LLC (each, a “Series A Member” and, together, the “Series A Members”).  

Summit GP and the Series A Members, by execution of this Agreement, hereby form a limited liability company pursuant to and in accordance with
the Delaware Limited Liability Company Act (6 Del.C. §18-101, et seq.), as amended from time to time (the “Act”), and hereby agrees as follows: 

1. Name. The name of the limited liability company formed hereby is Summit Owner Holdco LLC (the
“Company”). 
 2. Certificates. The Company has been organized as a Delaware limited liability
company by the filing of a certificate of formation (the “Certificate”) in accordance with the Act. 
 3.
Members.  
 (a) The Managing Member of the Company is Summit Materials Holding GP LTD, which is also the
“Series B Member”. All references herein to “Members” shall include the Managing Member (including in its capacity as the Series B Member) and the Series A Members. 

(b) The rights, powers, duties, obligations and liabilities of the Members shall be determined pursuant to the Act and this
Agreement. To the extent that the rights, powers, duties, obligations and liabilities of any Member are different by reason of any provision of this Agreement than they would be in the absence of such provision, this Agreement shall, to the extent
permitted by the Act, control. The execution and filing of the Certificate are hereby ratified, approved and confirmed by each of the Members. 

(c) The Managing Member may agree from time to time to admit a person as an additional member of the Company as a Series A
Member or a Series B Member; provided that no Series A Member (as defined below) may be admitted without the written consent of all Series A Members. Such admission shall be effective upon the written agreement of such person to be bound by the
terms of this Agreement. Upon such admission, all references herein to “Member” or “Members” shall also be a reference to such person. 

 4. Purpose. The Company is formed for the object and purpose of (a) holding
the Class A Common Stock and Class B Common Stock (in each case as defined below) and proceeds thereof, (b) exercising all rights and privileges appertaining thereto, and (c) selling, transferring, and disposing thereof, in each case
subject to and in accordance with the terms of this Agreement. The Company will not undertake any other business, investment, or purpose without the prior written consent of a majority in interest of the Series A Members. 

5. Powers.  

(a) In furtherance of its purposes, but subject to all of the provisions of this Agreement, the Company shall have the power
and is hereby authorized to: 
 (i) hold dividends, distributions and other proceeds of the Class A Common Stock and/or Class B Common
Stock as may be necessary, convenient or incidental to the accomplishment of the purpose of the Company; and 
 (ii) enter into, perform
and carry out contracts with banks, brokerage firms and other financial intermediaries, including, without limitation, contracts with any person or entity affiliated with the Members, necessary to, in connection with, convenient to, or incidental to
the accomplishment of the purposes of the Company. 
 (b) The Company will not take any action not specified in clause (a) above to the
extent related to the Class A Common Stock without the prior written consent of a majority in interest of the Series A Members. 

6. Principal Business Office. The principal business office of the Company shall be at such place as the Managing Member may
designate from time to time, which need not be in the State of Delaware. 
 7. Registered Office. The address of the
registered office of the Company in the State of Delaware is c/o Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington, New Castle County, Delaware, 19808.  

8. Registered Agent. The name and address of the registered agent of the Company for service of process on the Company in the
State of Delaware is Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington, New Castle County, Delaware, 19808. 

9. Address. The name and the mailing address of the Members are set forth on Schedule A attached hereto. 

10. Limited Liability. Except as otherwise provided by the Act, the debts, obligations and liabilities of the Company, whether
arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Members shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a
member of the Company. 
 11. Initial Capital Contribution. The Members are deemed admitted as the Member of the
Company upon its execution and delivery of this Agreement. The Members have made,  

  
 2 

 
pursuant to the Contribution and Purchase Agreement by and among the Members, Summit Materials, Inc. (“IPO Corp”), Summit Materials Holdings L.P. (“Summit
LP”), Continental Cement Company, L.L.C. (“CCC”) and the Company, dated as of December 18, 2014 (the “Contribution and Purchase Agreement”), an initial capital contribution in the
form of: (i) in the case of the Series A Members [to be specified at closing. Amount will equal two-sevenths of the total number of Class B Units of CCC respectively held by them immediately prior to such contribution], and
(ii) in the case of the Managing Member, the right to act as the general partner of Summit LP. 
 12. Membership
Interests. 
 (a) Types of Interests. The Interests in the Company shall be of two series, issuable to,
and owned by the Members, referred to herein as (i) the “Series A Interests”, which have a right and interest exclusively in the Class A Common Stock of IPO Corp (as such stock may be reclassified or otherwise converted, the
“Class A Common Stock”) that is owned by the Company as of the consummation of the transactions contemplated by the Contribution and Purchase Agreement (and the proceeds from any disposition, redemption or repurchase thereof and
dividends thereon), and (ii) the “Series B Interests”, which have an exclusive right and interest in the Class B Common Stock of IPO Corp (as such stock may be reclassified or otherwise converted, the “Class B Common
Stock”) that is owned by the Company as of the date hereof (and the proceeds from any disposition, redemption or repurchase thereof and dividends thereon). Schedule A hereto sets forth the number of issued and outstanding Series A
Interests and Series B Interests, as well as the identity of the “Series A Members” and the “Series B Members.” The Company shall at all times maintain a one-to-one correspondence between (i) the number of Series A Interests
outstanding and the number of shares of Class A Common Stock from time to time held by the Company and (ii) the number of Series B Interests outstanding and the number of shares of Class B Common Stock from time to time held by the
Company. 
 (b) Surrender of Interests; Redemption of Shares. Each Series A Member may from time to time, but no
earlier than one year from the date hereof, surrender all or a portion of its Series A Interests in order to receive, in redemption thereof, a corresponding number of the shares of Class A Common Stock then held by the Company, which
distribution shall be made promptly following the receipt of such notice. In lieu of such permitted redemption, any Series A Member may direct the Company to sell such shares of Class A Common Stock on behalf of such Member, and in such event
the Company shall promptly (i) sell such shares of Class A Common Stock in the manner directed by such Member and (ii) deliver the net proceeds of such sale to such Member in redemption of a number of such Series A Units corresponding
to the number of shares of Class A Common Stock that are sold. Each Series B Member may, at any time, surrender all or a portion of its Series B Interests in order to receive, in redemption thereof, a corresponding portion of the shares of
Class B Common Stock Corp then held by the Company. 

  
 3 

 13. Dispositions of Interests.  

(a) No Member, nor any spouse of a Member, Personal Representative of a Member or legal representative or agent of a Member,
may, except with the consent of the Managing Member, transfer of all or any portion of such Member’s membership interest (an “Interest”), other than (i) in accordance with Section 12(b) or (ii) a
Permitted Transfer (as defined below). Each of the Members agrees that the restrictions contained in this Agreement are fair and reasonable and in the best interest of the Company and the Members. In the case of any Permitted Transfer, the
transferee will become a substitute member at the written direction of the transferor without the need for any further consent or approval. 

(b) “Permitted Transfer” means a transfer of a Member’s Interest to (x) a Person directly or indirectly
(through one or more intermediaries) controlling, controlled by or under common control with such Member; (b) a Person owning, owned by, or under common ownership with such Member; or (c) an officer, director, partner or member, or a
member of the immediate family of an officer, director, partner or member, of such Member. “Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person,
whether through the ownership of voting securities, by contract or otherwise and “ownership” means ownership of ten percent (10%) or more of the outstanding voting securities or beneficial interest. “Person means” any
natural person, general partnership, limited partnership, limited liability partnership, corporation (including a not for profit corporation), any organization described in Section 501(c)(3) of the Internal Revenue Code, limited liability
company, joint venture, trust, business trust, estate, cooperative or other association or business entity. 
 14. Additional
Contributions. The Members are not required to make any additional capital contributions to the Company.  
 15.
Allocation of Profits and Losses. For capital account purposes, except as provided below, the Company’s profits and losses with respect to (i) the Class A Common Stock shall be allocated pro rata to the Series A Members in
accordance with their ownership of Series A Interests and (ii) the Class B Common Stock shall be allocated pro rata to the Series B Members in accordance with their ownership of Series B Interests. The Managing Member shall maintain the capital
accounts of the Members in accordance with the principles and requirements set forth in Section 704(b) of the U.S. Internal Revenue Code and Treasury Regulations Section 1.704-1(b)(2)(iv). This Section 15 shall be deemed to contain a
“minimum gain chargeback” within the meaning of Treasury Regulations Section 1.704-2(b)(2) and a “qualified income offset” within the meaning of Treasury Regulations Section 1.704-1(b)(2)(ii)(d), and shall be
interpreted consistently therewith. For U.S. federal income tax purposes, each item of income, gain, loss and deduction of the Company shall be allocated among the Members in the same manner as the corresponding items of profits and losses are
allocated for capital account purposes; provided that in the case of any asset subject to Section 704(c) of the U.S. Internal Revenue Code and the Treasury Regulations promulgated thereunder, income, gain, loss and deduction with respect to an
asset shall be allocated solely for income tax purposes in accordance with the principles of Sections 704(b) and (c) of the U.S. Internal Revenue Code (in any manner determined by the Managing Member and permitted by the U.S. Internal Revenue
Code and Treasury Regulations promulgated thereunder and consented to by a majority in interest of the Series A Members). The Company is intended to be classified as a partnership for U.S. federal income tax purposes, and no election to the contrary
shall be made. 

  
 4 

 16. Distributions. Distributions to the Series A Members (that do not involve
redemptions of Series A Interests as contemplated by Section 12(b)) shall track any distributions or proceeds with respect to the shares of Class A Common Stock held by the Company, and distributions to the Series B Members (that do
not involve redemptions of Series B Interests as contemplated by Section 12(b)) shall track any distributions or proceeds with respect to shares of Class B Common Stock held by the Company. Notwithstanding any provision to the contrary
contained in this Agreement, the Company shall not make a distribution to any member on account of its interest in the Company if such distribution would violate Section 18-607 of the Act or other applicable law. 

17. Management. The business, property and affairs of the Company shall be managed under the sole, absolute and exclusive
direction of the Managing Member. The Managing Member shall have the sole power to manage or cause the management of the Company, consistent with the provisions of Sections 4 and 5 hereof. The Managing Member shall be the “tax
matters partner” of the Company for U.S. federal income tax purposes (and any similar provisions under state, local or foreign tax law). Except as provided to the contrary in this Agreement or the Act, any action to be taken by the Company
shall require the consent of the Managing Member. Any action so approved may be taken by the Managing Member on behalf of the Company and any action so taken shall bind the Company. Except as expressly provided herein, and to the extent permitted by
applicable law, no Member who is not also a Managing Member shall have any right to vote on any matter involving the Company, including with respect to any merger, consolidation, combination or conversion of the Company, or any other matter that a
Member might otherwise have the ability to vote or consent with respect to under the Act, at law, in equity or otherwise. Notwithstanding the foregoing, (i) the Company will not sell, transfer, pledge or encumber any shares of Class A
Common Stock held by it, other than a distribution to a Series A Member, without the prior written consent of a majority in interest of the Series A Members, and (ii) the Company will vote shares of Class A Common Stock held by it in
accordance with directions received from the Series A Members, provided notice of any such direction is given to the Company by the Series A Members at least two business days prior to any applicable vote. The Managing Member will have the sole and
exclusive authority, exercisable in its sole discretion, to direct the voting of the Class B Common Stock held by the Company. Upon the withdrawal from the Company or voluntary resignation of the last remaining Managing Member, all of the powers
formerly vested therein pursuant to this Agreement and the Act shall be exercised by a majority in interest of the Members. 
 18.
Officers. The Managing Member may, from time to time as it deems advisable, employ and retain persons as may be necessary or appropriate for the conduct of the Company’s business (subject to the supervision and control of the
Member), including employees and agents who may be designated as officers (each, an “Officer”) with titles, including, but not limited to, “chairman,” “chief executive officer,” “president,”
“vice president,” “treasurer,” “secretary,” “managing director,” “chief financial officer,” “assistant treasurer” and “assistant secretary” as and to the extent authorized by the
Member. 

  
 5 

 19. Other Business. The Managing Member, in its capacity as such, may not engage in
or possess an interest in other business ventures (unconnected with the Company) of any kind or description, independently or with others, other than holding the Class A Common Stock and the Class B Common Stock, proceeds thereof, and
activities ancillary thereto. The Company shall not have any rights in or to such independent ventures or the income or profits therefrom by virtue of this Agreement. 

20. Exculpation and Indemnification. No Member nor any Officer shall be liable to the Company, or any other person or entity who
has an interest in the Company, for any loss, damage or claim incurred by reason of any act or omission performed or omitted by such Member or Officer in good faith on behalf of the Company and in a manner reasonably believed to be within the scope
of the authority conferred on such Member or Officer by this Agreement, except that the Member or Officer shall be liable for any such loss, damage or claim incurred by reason of such Member’s or Officer’s willful misconduct. To the
fullest extent permitted by applicable law, the Member or Officer shall be entitled to indemnification from the Company for any loss, damage or claim incurred by such member or Officer by reason of any act or omission performed or omitted by such
Member or Officer in good faith on behalf of the Company and in a manner reasonably believed to be within the scope of the authority conferred on such Member or Officer by this Agreement, except that neither the Member nor any Officer shall be
entitled to be indemnified in respect of any loss, damage or claim incurred by such Member or Officer by reason of willful misconduct with respect to such acts or omissions; provided, however, that any indemnity under this Section 20
shall be provided out of and to the extent of Company assets only, and the Member shall not have personal liability on account thereof.  

21. Assignment. No Member may sell, assign, pledge or otherwise transfer or encumber all or any portion of such Member’s
interest in the Company without the consent of the Managing Member or as otherwise provided in Section 13(a) of this Agreement. 

22. Resignation. Any member may resign from the Company with the written consent of the remaining members. If a member is
permitted to resign pursuant to this Section 22, an additional member shall be admitted to the Company, subject to Section 3(c), upon its execution of an instrument signifying its agreement to be bound by the terms and
conditions of this Agreement. Such admission shall be deemed effective immediately prior to the resignation, and, immediately following such admission, the resigning member shall cease to be a member of the Company. 

23. Dissolution.  

(a) The Company shall dissolve, and its affairs shall be wound up upon the first to occur of the following: (i) the
written consent of the Managing Member, which if delivered prior to the first year anniversary of the date of this Agreement shall require the consent of the holders of a majority in interest of the Series A Members; (ii) the retirement,
resignation or dissolution the Members and all other future members, if any, or the occurrence of any other event which terminates the continued membership of the Members and all future members, if any, in the Company unless the business of the
Company is continued in a manner permitted by the Act; or (iii) the entry of a decree of judicial dissolution under Section 18-802 of the Act. 

  
 6 

 (b) The bankruptcy of a Member or any future member will not cause such member to
cease to be a member of the Company and upon the occurrence of such an event, the business of the Company shall continue without dissolution. 

(c) In the event of dissolution, the Company shall conduct only such activities as are necessary to wind up its affairs
(including the sale of the assets of the Company in an orderly manner), and the assets of the Company shall be applied in the manner, and in the order of priority, set forth in Section 18-804 of the Act; provided, however, that (i) the
Class A Common Stock (and any proceeds deriving therefrom) shall in any case be distributed among the Series A Members in accordance with their respective Percentage Interests as reflected on Schedule A, as in effect on the date of dissolution
and (ii) the Class B Common Stock (and any proceeds deriving therefrom) shall in any case be distributed to the Series B Members in accordance with their respective Percentage Interests as reflected on Schedule A, as in effect on the date of
dissolution. 
 24. Separability of Provisions. Each provision of this Agreement shall be considered separable and if for any
reason any provision or provisions herein are determined to be invalid, unenforceable or illegal under any existing or future law, such invalidity, unenforceability or illegality shall not impair the operation of or affect those portions of this
Agreement which are valid, enforceable and legal. 
 25. Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original of this Agreement. 
 26. Entire Agreement. This Agreement
constitutes the entire agreement of the Member with respect to the subject matter hereof. 
 27. Governing Law. This
Agreement shall be governed by, and construed under, the laws of the State of Delaware (without regard to conflict of laws or principles). 

28. Amendments. This Agreement may not be modified, altered, supplemented or amended, except pursuant to a written agreement
executed and delivered by the Members and all other persons, if any, who are then members of the Company. 
 [Next page signature
page] 

  
 7 

 IN WITNESS WHEREOF, the undersigned, intending to be legally bound hereby, has duly executed this
Agreement to be effective as of the first written above. 
  

			
	SUMMIT MATERIALS HOLDINGS GP LTD.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	MISSOURI MATERIALS COMPANY, L.L.C.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	J & J MIDWEST GROUP, L.L.C.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	R. MICHAEL JOHNSON FAMILY LIMITED LIABILITY COMPANY
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	THOMAS A. BECK FAMILY, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Summit Owner Holdco LLC Agreement] 

 Schedule A 

to Summit Owner Holdco L.L.C. Limited Liability Company Agreement 

 

									
	Name	  	Mailing Address	  	Series	  	Percentage Interest	 
				
	 Summit Materials Holding GP LTD
	  	[    ]	  	B	  	 	100.00	% 
				
	 Missouri Materials Company, L.L.C.
	  	[    ]	  	A	  	 	[    ]	  
				
	 J & J Midwest Group, L.L.C.
	  	[    ]	  	A	  	 	[    ]	  
				
	 R. Michael Johnson Family Limited Liability Company
	  	[    ]	  	A	  	 	[    ]	  
				
	 Thomas A. Beck Family, LLC
	  	[    ]	  	A	  	 	[    ]Exhibit 4.1

 

	
 
    	
 
    

 

MONOGRAM RESIDENTIAL TRUST, INC.,

                                Issuer

 

— and —

 

[NAME OF TRUSTEE],

                                Trustee

 

 

INDENTURE

 

 

Dated as of [          ]

 

Debt Securities

 

	
 
    	
 
    

 

 

Certain Sections of this Indenture
 relating to the Trust Indenture Act of 1939

 

	
Trust Indenture
   Act Section
    	
 
    	
Indenture Section
    
	
§310(a)(1)
    	
 
    	
607
    
	
(a)(2)
    	
 
    	
607
    
	
(b)
    	
 
    	
608
    
	
§312(a)
    	
 
    	
701, 702(1)
    
	
(b)
    	
 
    	
702
    
	
(c)
    	
 
    	
702
    
	
§313(a)
    	
 
    	
703
    
	
(b)(2)
    	
 
    	
703
    
	
(c)
    	
 
    	
703
    
	
(d)
    	
 
    	
703
    
	
§314(a)
    	
 
    	
704
    
	
(c)(1)
    	
 
    	
102
    
	
(c)(2)
    	
 
    	
102
    
	
(e)
    	
 
    	
102
    
	
§315(a)
    	
 
    	
601
    
	
(b)
    	
 
    	
601, 602
    
	
(c)
    	
 
    	
601
    
	
(d)
    	
 
    	
601
    
	
(e)
    	
 
    	
515
    
	
§316(a) (last sentence)
    	
 
    	
101
    
	
(a)(1)(A)
    	
 
    	
502, 512
    
	
(a)(1)(B)
    	
 
    	
513
    
	
(b)
    	
 
    	
508
    
	
§317(a)(1)
    	
 
    	
503
    
	
(a)(2)
    	
 
    	
504
    
	
(b)
    	
 
    	
1003
    
	
§318(a)
    	
 
    	
108
    

 

Note:  This reconciliation and tie shall not, for any purpose, be deemed to be part of this Indenture.

 

 

TABLE OF CONTENTS

 

	
 
    	
 
    	
Page
    
	
 
    	
 
    	
 
    
	
ARTICLE ONE   DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
    	
1
    
	
 
    	
 
    	
 
    
	
Section 101.
    	
Definitions
    	
1
    
	
Section 102.
    	
Compliance Certificates   and Opinions
    	
8
    
	
Section 103.
    	
Form of Documents   Delivered to Trustee
    	
8
    
	
Section 104.
    	
Acts of Holders; Record   Dates
    	
8
    
	
Section 105.
    	
Notices, etc. to Trustee   and Company
    	
10
    
	
Section 106.
    	
Notice to Holders of   Securities; Waiver
    	
10
    
	
Section 107.
    	
Language of Notices
    	
11
    
	
Section 108.
    	
Conflict with Trust   Indenture Act
    	
11
    
	
Section 109.
    	
Effect of Headings and   Table of Contents
    	
11
    
	
Section 110.
    	
Successors and Assigns
    	
11
    
	
Section 111.
    	
Separability Clause
    	
11
    
	
Section 112.
    	
Benefits of Indenture
    	
11
    
	
Section 113.
    	
Governing Law; Waiver   of Jury Trial
    	
11
    
	
Section 114.
    	
Legal Holidays
    	
12
    
	
Section 115.
    	
Counterparts
    	
12
    
	
Section 116.
    	
Judgment Currency
    	
12
    
	
Section 117.
    	
Extension of Payment   Dates
    	
12
    
	
Section 118.
    	
Immunity of   Stockholders, Directors, Officers and Agents of the Company
    	
12
    
	
Section 119.
    	
USA Patriot Act
    	
13
    
	
 
    	
 
    	
 
    
	
ARTICLE TWO   SECURITIES FORMS
    	
13
    
	
 
    	
 
    	
 
    
	
Section 201.
    	
Forms Generally
    	
13
    
	
Section 202.
    	
Form of Trustee’s   Certificate of Authentication
    	
14
    
	
Section 203.
    	
Securities in Global   Form
    	
14
    
	
 
    	
 
    	
 
    
	
ARTICLE THREE   THE SECURITIES
    	
14
    
	
 
    	
 
    	
 
    
	
Section 301.
    	
Amount Unlimited;   Issuable in Series
    	
14
    
	
Section 302.
    	
Currency; Denominations
    	
17
    
	
Section 303.
    	
Execution, Authentication,   Delivery and Dating
    	
18
    
	
Section 304.
    	
Temporary Securities
    	
19
    
	
Section 305.
    	
Registration, Transfer   and Exchange
    	
19
    
	
Section 306.
    	
Mutilated, Destroyed,   Lost and Stolen Securities
    	
22
    
	
Section 307.
    	
Payment of Interest and Certain Additional Amounts;   Rights to Interest and Certain Additional Amounts Preserved
    	
23
    
	
Section 308.
    	
Persons Deemed Owners
    	
24
    
	
Section 309.
    	
Cancellation
    	
24
    
	
Section 310.
    	
Computation of Interest
    	
25
    
	
Section 311.
    	
CUSIP Numbers
    	
25
    
	
 
    	
 
    	
 
    
	
ARTICLE FOUR   SATISFACTION AND DISCHARGE OF INDENTURE
    	
25
    
	
 
    	
 
    	
 
    
	
Section 401.
    	
Satisfaction and   Discharge
    	
25
    
	
Section 402.
    	
Defeasance and Covenant   Defeasance
    	
26
    
	
Section 403.
    	
Application of Trust   Money
    	
30
    
	
Section 404.
    	
Reinstatement
    	
30
    
	
 
    	
 
    	
 
    
	
ARTICLE FIVE   REMEDIES
    	
30
    
	
 
    	
 
    	
 
    
	
Section 501.
    	
Events of Default
    	
30
    

 

i

 

	
Section 502.
    	
Acceleration of   Maturity; Rescission and Annulment
    	
31
    
	
Section 503.
    	
Collection of   Indebtedness and Suits for Enforcement by Trustee
    	
32
    
	
Section 504.
    	
Trustee May File   Proofs of Claim
    	
33
    
	
Section 505.
    	
Trustee   May Enforce Claims without Possession of Securities or Coupons
    	
34
    
	
Section 506.
    	
Application of Money   Collected
    	
34
    
	
Section 507.
    	
Limitations on Suits
    	
34
    
	
Section 508.
    	
Unconditional Right of Holders to Receive Principal   and any Premium, Interest and Additional Amounts
    	
35
    
	
Section 509.
    	
Restoration of Rights   and Remedies
    	
35
    
	
Section 510.
    	
Rights and Remedies   Cumulative
    	
35
    
	
Section 511.
    	
Delay or Omission Not   Waiver
    	
35
    
	
Section 512.
    	
Control by Holders of Securities
    	
36
    
	
Section 513.
    	
Waiver of Past Defaults
    	
36
    
	
Section 514.
    	
Waiver of Usury, Stay   or Extension Laws
    	
36
    
	
Section 515.
    	
Undertaking for Costs
    	
36
    
	
 
    	
 
    	
 
    
	
ARTICLE SIX   THE TRUSTEE
    	
37
    
	
 
    	
 
    	
 
    
	
Section 601.
    	
Certain Rights of   Trustee
    	
37
    
	
Section 602.
    	
Notice of Defaults
    	
38
    
	
Section 603.
    	
Not Responsible for   Recitals or Issuance of Securities
    	
39
    
	
Section 604.
    	
May Hold   Securities; Transactions with the Company
    	
39
    
	
Section 605.
    	
Money Held in Trust
    	
39
    
	
Section 606.
    	
Compensation and   Reimbursement
    	
39
    
	
Section 607.
    	
Corporate Trustee   Required; Eligibility; Disqualification
    	
40
    
	
Section 608.
    	
Resignation and   Removal; Appointment of Successor
    	
40
    
	
Section 609.
    	
Acceptance of   Appointment by Successor
    	
41
    
	
Section 610.
    	
Merger, Conversion,   Consolidation or Succession to Business
    	
42
    
	
Section 611.
    	
Appointment of   Authenticating Agent
    	
42
    
	
Section 612.
    	
Duties of the Trustee
    	
44
    
	
 
    	
 
    	
 
    
	
ARTICLE SEVEN   HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY
    	
45
    
	
 
    	
 
    	
 
    
	
Section 701.
    	
Company to Furnish   Trustee Names and Addresses of Holders
    	
45
    
	
Section 702.
    	
Preservation of Information; Communications to   Holders; Communications by Holders with Other Holders
    	
45
    
	
Section 703.
    	
Reports by Trustee
    	
46
    
	
Section 704.
    	
Reports by the Company
    	
46
    
	
 
    	
 
    	
 
    
	
ARTICLE EIGHT   CONSOLIDATION, MERGER AND SALES
    	
46
    
	
 
    	
 
    	
 
    
	
Section 801.
    	
Company   May Consolidate, Etc., Only on Certain Terms
    	
46
    
	
Section 802.
    	
Successor Person   Substituted for Company
    	
47
    
	
 
    	
 
    	
 
    
	
ARTICLE NINE   SUPPLEMENTAL INDENTURES
    	
47
    
	
 
    	
 
    	
 
    
	
Section 901.
    	
Supplemental Indentures   without Consent of Holders
    	
47
    
	
Section 902.
    	
Supplemental Indentures   with Consent of Holders
    	
48
    
	
Section 903.
    	
Execution of   Supplemental Indentures
    	
49
    
	
Section 904.
    	
Effect of Supplemental   Indentures
    	
50
    
	
Section 905.
    	
Reference in Securities   to Supplemental Indentures
    	
50
    
	
Section 906.
    	
Conformity with Trust   Indenture Act
    	
50
    
	
 
    	
 
    	
 
    
	
ARTICLE TEN   COVENANTS
    	
50
    
	
 
    	
 
    	
 
    
	
Section 1001.
    	
Payment of Principal,   Premium, Interest and Additional Amounts
    	
50
    
	
Section 1002.
    	
Maintenance of Office   or Agency
    	
50
    
	
Section 1003.
    	
Money for Securities   Payments to Be Held in Trust
    	
51
    

 

ii

 

	
Section 1004.
    	
Additional Amounts
    	
52
    
	
Section 1005.
    	
Waiver of Certain   Covenants
    	
53
    
	
Section 1006.
    	
Company Statement as to   Compliance
    	
53
    
	
Section 1007.
    	
Calculation of Original   Issue Discount
    	
53
    
	
 
    	
 
    	
 
    
	
ARTICLE ELEVEN   REDEMPTION OF SECURITIES
    	
53
    
	
 
    	
 
    	
 
    
	
Section 1101.
    	
Applicability of   Article
    	
53
    
	
Section 1102.
    	
Election to Redeem;   Notice to Trustee
    	
53
    
	
Section 1103.
    	
Selection by Trustee of   Securities to be Redeemed
    	
54
    
	
Section 1104.
    	
Notice of Redemption
    	
54
    
	
Section 1105.
    	
Deposit of Redemption   Price
    	
55
    
	
Section 1106.
    	
Securities Payable on   Redemption Date
    	
55
    
	
Section 1107.
    	
Securities Redeemed in   Part
    	
56
    
	
 
    	
 
    	
 
    
	
ARTICLE TWELVE   SINKING FUNDS
    	
56
    
	
 
    	
 
    	
 
    
	
Section 1201.
    	
Applicability of   Article
    	
56
    
	
Section 1202.
    	
Satisfaction of Sinking   Fund Payments with Securities
    	
57
    
	
Section 1203.
    	
Redemption of   Securities for Sinking Fund
    	
57
    
	
 
    	
 
    	
 
    
	
ARTICLE THIRTEEN   REPAYMENT AT THE OPTION OF HOLDERS
    	
57
    
	
 
    	
 
    	
 
    
	
Section 1301.
    	
Applicability of   Article
    	
57
    
	
 
    	
 
    	
 
    
	
ARTICLE FOURTEEN   SECURITIES IN FOREIGN CURRENCIES
    	
58
    
	
 
    	
 
    	
 
    
	
Section 1401.
    	
Applicability of   Article
    	
58
    
	
Section 1402.
    	
Monies of Different   Currencies to be Segregated
    	
58
    
	
 
    	
 
    	
 
    
	
ARTICLE FIFTEEN   MEETINGS OF HOLDERS OF SECURITIES
    	
58
    
	
 
    	
 
    	
 
    
	
Section 1501.
    	
Purposes for Which   Meetings May Be Called
    	
58
    
	
Section 1502.
    	
Call, Notice and Place   of Meetings
    	
58
    
	
Section 1503.
    	
Persons Entitled to   Vote at Meetings
    	
59
    
	
Section 1504.
    	
Quorum; Action
    	
59
    
	
Section 1505.
    	
Determination of Voting   Rights; Conduct and Adjournment of Meetings
    	
60
    
	
Section 1506.
    	
Counting Votes and   Recording Action of Meetings
    	
60
    

 

iii

 

INDENTURE, dated as of [          ] (the “Indenture”), between MONOGRAM RESIDENTIAL TRUST, INC., a corporation duly organized and existing under the laws of the State of Maryland (the “Company”), having its principal executive office located at 5800 Granite Parkway, Suite 1000, Plano, Texas 75024, and [NAME OF TRUSTEE], as trustee, registrar, paying agent and transfer agent (the “Trustee,” “Registrar,” “Paying Agent,” and “Transfer Agent,” respectively).

 

RECITALS

 

The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its senior unsecured debentures, notes or other evidences of indebtedness (hereinafter called the “Securities”), unlimited as to principal amount, to bear such fixed or floating rates of interest, to mature at such time or times, to be issued in one or more series and to have such other provisions as shall be fixed as hereinafter provided.

 

The Company has duly authorized the execution and delivery of this Indenture.  All things necessary to make this Indenture a valid, legally binding and enforceable agreement of the Company, in accordance with its terms, have been done.

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

For and in consideration of the premises and the purchase of the Securities by the Holders (as herein defined) thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of any series thereof and any Coupons (as herein defined) as follows:

 

ARTICLE ONE

 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

Section 101.     Definitions.

 

Except as otherwise expressly provided in or pursuant to this Indenture or unless the context otherwise requires, for all purposes of this Indenture:

 

(1)                                 the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular;

 

(2)                                 all terms used herein which are defined in the Trust Indenture Act (as defined herein), either directly or by reference therein, have the meanings assigned to them therein;

 

(3)                                 all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP (as defined herein);

 

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

 

(5)                                 the word “or” is always used inclusively (for example, the phrase “A or B” means “A or B or both,” not “either A or B but not both”);

 

(6)                                 provisions apply to successive events and transactions;

 

(7)                                 the term “merger” includes a statutory share exchange and the terms “merge” and “merged” have correlative meanings;

 

(8)                                 the masculine gender includes the feminine and the neuter; and

 

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(9)                                 references to agreements and other instruments include subsequent amendments and supplements thereto.

 

Certain terms used principally in certain Articles hereof are defined in those Articles.

 

“Act,” when used with respect to any Holders, has the meaning specified in Section 104.

 

“Additional Amounts” means any additional amounts which are required by this Indenture or by the terms of any Security established pursuant to Section 301, under circumstances specified herein or therein, to be paid by the Company in respect of certain taxes, duties, levies, imposts, assessments or other governmental charges imposed on Holders specified herein or therein.

 

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

 

“Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 611 to act on behalf of the Trustee to authenticate Securities of one or more series.

 

“Authorized Newspaper” means a newspaper, in an official language of the place of publication or in the English language, customarily published on each day that is a Business Day in the place of publication, whether or not published on days that are not Business Days in the place of publication, and of general circulation in each place in connection with which the term is used or in the financial community of each such place.  Where successive publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different newspapers in the same place meeting the foregoing requirements and in each case on any day that is a Business Day in the place of publication.

 

“Bankruptcy Code” means Title 11 of the United States Code, as amended from time to time,

 

“Bearer Security” means any Security in the form established pursuant to Section 201 which is payable to bearer.

 

“Board of Directors” means the board of directors of the Company or any committee of such board duly authorized to act generally or in any particular respect for the Company hereunder.  The term “board of directors” means the board of directors of the Company and does not include committees of such board of directors.

 

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

 

“Business Day” means, unless otherwise specified with respect to the Securities of any series pursuant to Section 301, any day other than a Saturday, Sunday or other day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to close; provided that such term shall mean, when used with respect to any payment of principal of, or premium or interest, if any, on, or Additional Amounts with respect to, the Securities of any series to be made at any Place of Payment for such Securities, unless otherwise specified pursuant to Section 301 with respect to such Securities, any day other than a Saturday, Sunday or other day on which banking institutions in such Place of Payment are authorized or obligated by law, regulation or executive order to close.

 

“Commission” means the Securities and Exchange Commission, as from time to time constituted, or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it, then the body performing such duties at such time.

 

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

 

“Company Request” and “Company Order” mean, respectively, a written request or order, as the case may be, signed in the name of the Company by any of the Chairman, the Chief Executive Officer, the President, a Vice President, the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the Company or any person designated in writing as authorized by the Company to execute and deliver such request or order, and delivered to the Trustee.

 

“Conversion Event” means the cessation of use of (i) a Foreign Currency both by the government of the country or the confederation which issued such Foreign Currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community or (ii) any currency unit or composite currency for the purposes for which it was established.

 

“Corporate Trust Office” means the principal office of the Trustee in the United States at which at any time its corporate trust business shall be administered, which office at the date of this Indenture is located at [          ], or such other address in the United States as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office in the United States of any successor Trustee (or such other address as a successor Trustee may designate from time to time by notice to the Holders and the Company).

 

“Corporation” includes corporations, partnerships, associations, limited liability companies and other companies, and business trusts.  The term “corporation” means a corporation and does not include partnerships, associations, limited liability companies or other companies or business trusts.

 

“Coupon” means any interest coupon appertaining to a Bearer Security.

 

“Currency,” with respect to any payment, deposit or other transfer in respect of the principal of or any premium or interest on or any Additional Amounts with respect to any Security, means Dollars or the Foreign Currency, as the case may be, in which such payment, deposit or other transfer is required to be made by or pursuant to the terms hereof or such Security and, with respect to any other payment, deposit or transfer pursuant to or contemplated by the terms hereof or such Security, means Dollars.

 

“CUSIP number” means the alphanumeric designation assigned to a Security by Standard & Poor’s CUSIP Service Bureau.

 

“Defaulted Interest” has the meaning specified in Section 307.

 

“Depositary” means, with respect to any Security issuable or issued in the form of one or more global Securities, the Person designated as depositary by the Company in or pursuant to this Indenture, and, unless otherwise provided with respect to any Security, any successor to such Person.  If at any time there is more than one such Person, “Depositary” shall mean, with respect to any Securities, the depositary which has been appointed with respect to such Securities.

 

“Dollars” or “$” means a dollar or other equivalent unit of legal tender for payment of public or private debts in the United States of America.

 

“Equivalent Terms” has the meaning specified in Section 1102.

 

“Event of Default” has the meaning specified in Section 501.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor thereto, in each case as amended from time to time.

 

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“Foreign Currency” means any currency, currency unit or composite currency issued by the government of one or more countries other than the United States of America or by any recognized confederation or association of such government.

 

“GAAP” and “generally accepted accounting principles” means generally accepted accounting principles in the United States of America as in effect on the date of any calculation or determination required hereunder.  Except as otherwise set forth in this Indenture, all ratios and calculations based on GAAP contained in this Indenture shall be computed in accordance with GAAP.

 

“Government Obligations” means securities which are (i) direct obligations of the United States of America or the other government or governments in the confederation which issued the Foreign Currency in which the principal of or any premium or interest on the relevant Security or any Additional Amounts in respect thereof shall be payable, in each case where the payment or payments thereunder are supported by the full faith and credit of such government or governments or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America or such other government or governments, in each case where the timely payment or payments thereunder are unconditionally guaranteed as a full faith and credit obligation by the United States of America or such other government or governments, and which, in the case of (i) or (ii), are not callable or redeemable at the option of the issuer or issuers thereof, and shall also include a depositary receipt issued by a bank or trust company as custodian with respect to any such Government Obligation or a specific payment of interest on or principal of or other amount with respect to any such Government Obligation held by such custodian for the account of the holder of a depositary receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the Government Obligation or the specific payment of interest on or principal of or other amount with respect to the Government Obligation evidenced by such depositary receipt.

 

“Holder,” in the case of any Registered Security, means the Person in whose name such Security is registered in the Security Register and, in the case of any Bearer Security, means the bearer thereof and, in the case of any Coupon, means the bearer thereof.

 

“Indebtedness,” when used with respect to any Person, and without duplication, unless otherwise specified with respect to the Securities of any series pursuant to Section 301, means any indebtedness (whether being principal, premium or interest) for or in respect of (i) any notes, bonds, debenture stock, loan stock or other securities or (ii) any borrowed money, which in each case would be reflected, in accordance with GAAP, on the balance sheet of such Person as a liability as of the date of determination.

 

“Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and, with respect to any Security, by the terms and provisions of such Security and any Coupon appertaining thereto established pursuant to Section 301 (as such terms and provisions may be amended pursuant to the applicable provisions hereof), provided, however, that, if at any time more than one Person is acting as Trustee under this instrument, “Indenture” shall mean, with respect to any one or more series of Securities for which such Person is Trustee, this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of those particular series of Securities for which such Person is Trustee established pursuant to Section 301, exclusive, however, of any provisions or terms which relate solely to other series of Securities for which such Person is not Trustee, regardless of when such terms or provisions were adopted.

 

“Indexed Security” means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal face amount thereof at original issuance.

 

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

 

“Interest Payment Date,” with respect to any Security, means the Stated Maturity of an installment of interest on such Security.

 

4

 

“Judgment Currency” has the meaning specified in Section 116.

 

“Maturity,” with respect to any Security, means the date on which the principal of such Security or an installment of principal becomes due and payable as provided in or pursuant to this Indenture or such Security, whether at the Stated Maturity, upon acceleration, upon redemption at the option of the Company, upon repayment at the option of the Holder or otherwise, and includes a Redemption Date for such Security and a date fixed for the repayment of such Security at the option of the Holder.

 

“New York Banking Day” has the meaning specified in Section 116.

 

“Office” or “Agency,” with respect to any Securities, means an office or agency of the Company maintained or designated in a Place of Payment for such Securities pursuant to Section 1002 or any other office or agency of the Company maintained or designated for such Securities pursuant to Section 1002 or, to the extent designated or required by Section 1002 in lieu of such office or agency, the Corporate Trust Office (other than for Bearer Securities).

 

“Officer’s Certificate” means a certificate signed by the Chairman, the Chief Executive Officer, the President or a Vice President, the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the Company or any person designated in writing as authorized by the Company to execute and deliver such certificate that complies with the requirements of Section 314(e) of the Trust Indenture Act and is delivered to the Trustee.

 

“Opinion of Counsel” means a written opinion of counsel, who may be an employee of or counsel for the Company, or other counsel who shall be reasonably acceptable to the Trustee, that, if required by the Trust Indenture Act, complies with the requirements of Section 314(e) of the Trust Indenture Act.

 

“Original Issue Discount Security” means a Security, other than an Indexed Security, issued pursuant to this Indenture which provides for an amount less than the principal amount thereof to be due and payable upon acceleration pursuant to Section 502.

 

“Outstanding,” when used with respect to any Securities, means, as of the date of determination, all such Securities theretofore authenticated and delivered under this Indenture, except:

 

(a)                                 any such Security or any portion thereof theretofore cancelled by the Trustee or the Security Registrar or delivered to the Trustee or the Security Registrar for cancellation;

 

(b)                                 any such Security or any portion thereof for whose payment at the Maturity thereof money in the necessary amount has been theretofore deposited pursuant hereto (other than pursuant to Section 402) with the Trustee or any Paying Agent (other than the Company or any Affiliate of the Company) in trust or set aside and segregated in trust by the Company or any Affiliate of the Company (if it shall act as Paying Agent) for the Holders of such Securities and any Coupons appertaining thereto, provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made;

 

(c)                                  any such Security with respect to which the Company has effected defeasance or covenant defeasance pursuant to Section 402, except to the extent provided in Section 402; and

 

(d)                                 any such Security which has been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, unless there shall have been presented to the Trustee proof satisfactory to it that such Security is held by a bona fide purchaser in whose hands such Security is a valid obligation of the Company;

 

provided, however, that in determining whether the Holders of the requisite aggregate principal amount of Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders of Securities for quorum purposes, (i) the principal amount of an

 

5

 

Original Issue Discount Security that may be counted in making such determination and that shall be deemed to be Outstanding for such purposes shall be equal to the amount of the principal thereof that pursuant to the terms of such Original Issue Discount Security would be due and payable upon acceleration thereof pursuant to Section 502 at the time of such determination, and (ii) the principal amount of any Indexed Security that may be counted in making such determination and that shall be deemed Outstanding for such purpose shall be equal to the principal amount of such Indexed Security at original issuance, unless otherwise provided in or pursuant to this Indenture, and (iii) the principal amount of a Security denominated in a Foreign Currency that may be counted in making such determination and that shall be deemed Outstanding for such purposes shall be the Dollar equivalent, determined on the date of original issuance of such Security, of the principal amount (or, in the case of an Original Issue Discount Security, the Dollar equivalent on the date of original issuance of such Security of the amount determined as provided in (i) above) of such Security, and (iv) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making any such determination or relying upon any such request, demand, authorization, direction, notice, consent or waiver, the Trustee shall be entitled to conclusively rely on any such request, demand, authorization, direction, notice, consent or waiver, but only to the extent the Responsible Officer of the Trustee making such determination does not have actual knowledge that such Securities are not so owned.  Securities so owned which shall have been pledged in good faith may be regarded as Outstanding if the pledgee establishes in writing to the satisfaction of the Trustee (A) the pledgee’s right so to act with respect to such Securities and (B) that the pledgee is not the Company or any other obligor upon the Securities or any Coupons appertaining thereto or an Affiliate of the Company or such other obligor.

 

“Paying Agent” means any Person authorized by the Company to pay the principal of, or any premium or interest on, or any Additional Amounts with respect to, any Security or any Coupon on behalf of the Company.

 

“Person” and “person” mean any individual, Corporation, joint venture, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.

 

“Place of Payment,” with respect to any Security, means the place or places where the principal of, or any premium or interest on, or any Additional Amounts with respect to such Security are payable as provided in or pursuant to this Indenture or such Security.

 

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same indebtedness as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a lost, destroyed, mutilated or stolen Security or any Security to which a mutilated, destroyed, lost or stolen Coupon appertains shall be deemed to evidence the same indebtedness as the lost, destroyed, mutilated or stolen Security or the Security to which a mutilated, destroyed, lost or stolen Coupon appertains.

 

“Redemption Date,” with respect to any Security or portion thereof to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture or such Security.

 

“Redemption Price,” with respect to any Security or portion thereof to be redeemed, means the price at which it is to be redeemed as determined by or pursuant to this Indenture or such Security.

 

“Registered Security” means any Security established pursuant to Section 201 which is registered in the Security Register.

 

“Regular Record Date” for the interest payable on any Registered Security on any Interest Payment Date therefor means the date, if any, specified in or pursuant to this Indenture or such Security as the regular record date for the payment of such interest.

 

“Required Currency” has the meaning specified in Section 116.

 

“Responsible Officer” means any officer or assistant officer within the corporate trust department of the Trustee in its Corporate Trust Office having direct responsibility for the administration of this Indenture and also

 

6

 

means, with respect to a particular corporate trust matter, any other officer or assistant officer of the Trustee having direct responsibility for the administration of this Indenture to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject.

 

“Securities Act” means the Securities Act of 1933, as amended, or any successor thereto, in each case as amended from time to time.

 

“Security” or “Securities” means any note or notes, bond or bonds, debenture or debentures, or any other evidences of indebtedness, as the case may be, authenticated and delivered under this Indenture; provided, however, that, if at any time there is more than one Person acting as Trustee under this Indenture, “Securities,” with respect to any such Person, shall mean Securities authenticated and delivered under this Indenture, exclusive, however, of Securities of any series as to which such Person is not Trustee.

 

“Security Register” and “Security Registrar” have the respective meanings specified in Section 305.

 

“Significant Subsidiary” has the meaning specified in Regulation S-X under the Securities Act.

 

“Special Record Date” for the payment of any Defaulted Interest on any Registered Security means a date fixed therefor by the Trustee pursuant to Section 307.

 

“Stated Maturity,” with respect to any Security or any installment of principal thereof or interest thereon or any Additional Amounts with respect thereto, means the date established by or pursuant to this Indenture or such Security as the fixed date on which the principal of such Security or such installment of principal or interest is, or such Additional Amounts are, due and payable.

 

“Subsidiary” means (1) any corporation a majority of the total voting power of whose outstanding Voting Stock is owned or controlled, directly or indirectly, at the date of determination by the Company, and (2) any other Person in which the Company and/or one or more other Subsidiaries, directly or indirectly, at the date of determination, (x) own a majority of the outstanding equity interests or (y) have the power to elect or direct the election of, or to appoint or approve the appointment of, a majority of the directors, trustees or managing members of, or other persons holding similar positions with, such Person.

 

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, or any successor thereto, in each case, as amended from time to time.

 

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

 

“United States,” means the United States of America (including the states thereof and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction; and the term “United States of America” means the United States of America.

 

“Vice President,” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title “Vice President.”

 

“Voting Stock” means, with respect to any Person, any class or series of capital stock of, or other equity interests in, such Person the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of, or to appoint or to approve the appointment of, the directors, trustees or managing members of, or other persons holding similar positions with, such Person.

 

7

 

Section 102.     Compliance Certificates and Opinions.

 

Except as otherwise expressly provided in or pursuant to this Indenture, upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents or any of them is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished.

 

Section 103.     Form of Documents Delivered to Trustee.

 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents.

 

Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon an Opinion of Counsel, unless such officer knows, or in the exercise of reasonable care should know, that the Opinion of Counsel with respect to the matters upon which his certificate or opinion is based is erroneous.  Any such Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company, a governmental official or officers or any other Person or Persons, stating that the information with respect to such factual matters is in the possession of the Company unless the counsel rendering the Opinion of Counsel knows, or in the exercise of reasonable care should know, that the certificate, opinion or representations with respect to such matters are erroneous.

 

Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture shall include:

 

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

 

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

 

(3)                                 a statement that, in the opinion of such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with (which, in the case of an Opinion of Counsel, may be limited to reliance on an Officer’s Certificate as to matters of fact); and

 

(4)                                 a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with.

 

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture or any Security, they may, but need not, be consolidated and form one instrument.

 

Section 104.     Acts of Holders; Record Dates.

 

(1)                                 Any request, demand, authorization, direction, notice, consent, waiver or other action provided by or pursuant to this Indenture to be made, given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing.  If, but only if, Securities of a series are issuable as Bearer Securities, any request, demand, authorization,

 

8

 

direction, notice, consent, waiver or other action provided in or pursuant to this Indenture to be made, given or taken by Holders of Securities of such series may, alternatively, be embodied in and evidenced by the record of Holders of Securities of such series voting in favor thereof, either in person or by proxies duly appointed in writing, at any meeting of Holders of Securities of such series duly called and held in accordance with the provisions of Article Fifteen, or a combination of such instruments and any such record.  Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Company.  Such instrument or instruments and any such record (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments or so voting at any such meeting.  Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to Section 315 of the Trust Indenture Act) conclusive in favor of the Trustee, the Company and any agent of the Trustee or the Company if made in the manner provided in this Section.  The record of any meeting of Holders of Securities shall be proved in the manner provided in Section 1506.

 

Without limiting the generality of this Section 104, unless otherwise provided in or pursuant to this Indenture, a Holder, including a Depositary that is a Holder of a global Security, may make, give or take, by a proxy or proxies, duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other Act provided in or pursuant to this Indenture or the Securities to be made, given or taken by Holders, and a Depositary that is a Holder of a global Security may provide its proxy or proxies to the beneficial owners of interests in any such global Security through such Depositary’s standing instructions and customary practices.

 

(2)                                 The Trustee may rely conclusively on the fact and date of the execution by any Person of any such instrument or writing.  The Trustee may determine, and the Trustee may in any instance require further proof with respect to, any of the matters referred to in this Section.

 

(3)                                 The ownership, principal amount and serial numbers of Registered Securities held by any Person, and the date of the commencement and the date of the termination of holding the same, shall be proved by the Security Register.

 

(4)                                 The ownership, principal amount and serial numbers of Bearer Securities held by any Person, and the date of the commencement and the date of the termination of holding the same, may be proved by the production of such Bearer Securities or by a certificate executed, as depositary, by any trust company, bank, banker or other depositary reasonably acceptable to the Company, wherever situated, if such certificate shall be deemed by the Company and the Trustee to be satisfactory, showing that at the date therein mentioned such Person had on deposit with such depositary, or exhibited to it, the Bearer Securities therein described; or such facts may be proved by the certificate or affidavit of the Person holding such Bearer Securities, if such certificate or affidavit is deemed by the Company and the Trustee to be satisfactory.  The Trustee and the Company may assume that such ownership of any Bearer Security continues until (1) another certificate or affidavit bearing a later date issued in respect of the same Bearer Security is produced, or (2) such Bearer Security is produced to the Trustee by some other Person, or (3) such Bearer Security is surrendered in exchange for a Registered Security, or (4) such Bearer Security is no longer Outstanding.  The ownership, principal amount and serial numbers of Bearer Securities held by the Person so executing such instrument or writing and the date of the commencement and the date of the termination of holding the same may also be proved in any other manner which the Company and the Trustee deem sufficient.

 

(5)                                 If the Company shall solicit from the Holders of any Registered Securities any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company may at its option (but is not obligated to), by Board Resolution, fix in advance a record date for the determination of Holders of Registered Securities entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act.  If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of Registered Securities of record at the close of business on such record date shall be deemed to be Holders for the purpose of determining whether Holders of the requisite proportion of Outstanding Securities have authorized, agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Securities shall be computed as of such record date; provided that no such authorization, agreement or consent by the Holders of Registered

 

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Securities shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date.

 

(6)                                 Any request, demand, authorization, direction, notice, consent, waiver or other Act by the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done or suffered to be done by the Trustee, any Security Registrar, any Paying Agent or the Company in reliance thereon, whether or not notation of such Act is made upon such Security.

 

Section 105.     Notices, etc. to Trustee and Company.

 

Any request, demand, authorization, direction, notice, consent, waiver or other Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with,

 

(1)                                 the Trustee by any Holder or the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, or at any other address furnished in writing to the Company by the Trustee, or

 

(2)                                 the Company by the Trustee or any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to the attention of [        ] and [        ] at the address of its principal office specified in the first paragraph of this instrument, Facsimile: [        ], or at any other address furnished in writing to the Trustee by the Company for such purpose with a copy to DLA Piper LLP (US), 1251 Avenue of the Americas, New York, NY 10020, Attention:  Jamie Knox, Esq.

 

Section 106.     Notice to Holders of Securities; Waiver.

 

Except as otherwise expressly provided in or pursuant to this Indenture, where this Indenture provides for notice to Holders of Securities of any event,

 

(1)                                 such notice shall be sufficiently given to Holders of Registered Securities if in writing and mailed, first-class postage prepaid, or if delivered electronically pursuant to the applicable procedures of the Depositary, to each Holder of a Registered Security affected by such event, at his address as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice; and

 

(2)                                 such notice shall be sufficiently given to Holders of Bearer Securities, if any, if published, at the expense of the Company, in an Authorized Newspaper in The City of New York and, if such Securities are then listed on any stock exchange outside the United States, in an Authorized Newspaper in such city as the Company shall advise the Trustee in writing that such stock exchange so requires, on a Business Day at least twice, the first such publication to be not earlier than the earliest date and the second such publication not later than the latest date prescribed for the giving of such notice.

 

In any case where notice to Holders of Registered Securities is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder of a Registered Security shall affect the sufficiency of such notice with respect to other Holders of Registered Securities or the sufficiency of any notice to Holders of Bearer Securities given as provided herein.  Any notice which is mailed in the manner herein provided shall be conclusively presumed to have been duly given or provided.  In the case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made shall constitute a sufficient notification for every purpose hereunder.

 

In case by reason of the suspension of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause it shall be impracticable to publish any notice to Holders of Bearer Securities as provided above, then such notification to Holders of Bearer Securities as shall be given shall constitute sufficient notice to such Holders for every purpose hereunder.  Neither failure to give notice by publication to Holders of

 

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Bearer Securities as provided above, nor any defect in any notice so published, shall affect the sufficiency of any notice mailed to Holders of Registered Securities as provided above.

 

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

 

Section 107.     Language of Notices.

 

Any request, demand, authorization, direction, notice, consent, waiver or other action required or permitted under this Indenture shall be in the English language, except that, if the Company so elects, any published notice may be in an official language of the country of publication.

 

Section 108.     Conflict with Trust Indenture Act.

 

If any provision of this Indenture limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under such Act to be a part of and govern this Indenture, the latter provision shall control.  If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be.

 

Section 109.     Effect of Headings and Table of Contents.

 

The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof.

 

Section 110.     Successors and Assigns.

 

All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not.

 

Section 111.     Separability Clause.

 

In case any provision in this Indenture, any Security or any Coupon shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not, to the fullest extent permitted by law, in any way be affected or impaired thereby.

 

Section 112.     Benefits of Indenture.

 

Nothing in this Indenture, any Security or any Coupon, express or implied, shall give to any Person, other than the parties hereto, any Security Registrar, any Paying Agent or their successors hereunder or the Holders of Securities or Coupons, any benefit or any legal or equitable right, remedy or claim under this Indenture.

 

Section 113.     Governing Law; Waiver of Jury Trial.

 

This Indenture, the Securities and any Coupons shall be governed by, and construed in accordance with, the laws of the State of New York without regard to conflicts of law provisions of such State other than New York General Obligations Law Section 5-1401.  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 ACTION, SUIT OR PROCEEDING ARISING OUT OF OR IN CONNECTION WITH THIS INDENTURE, THE SECURITIES, ANY COUPONS OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

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Section 114.     Legal Holidays.

 

Unless otherwise specified in or pursuant to this Indenture or any Securities, in any case where any Interest Payment Date, Stated Maturity or Maturity of, or any other day on which a payment is due with respect to, any Security shall be a day which is not a Business Day, then payment need not be made on such day, but such payment may be made on the next succeeding day that is a relevant Business Day with the same force and effect as if made on the Interest Payment Date, at the Stated Maturity or Maturity or on any such other payment date, as the case may be, and no interest shall accrue or be payable on such succeeding Business Day for the period from and after such Interest Payment Date, Stated Maturity, Maturity or other payment date, as the case may be, to such succeeding Business Day.

 

Section 115.     Counterparts.

 

This Indenture may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument.  The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes.  Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

 

Section 116.     Judgment Currency.

 

The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of, or premium or interest, if any, or Additional Amounts on the Securities of any series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the date on which a final unappealable judgment is given and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment (whether or not entered in accordance with clause (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture.  For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York or a day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to be closed.  The provisions of this Section 116 shall not be applicable with respect to any payment due on a Security which is payable in Dollars.

 

Section 117.     Extension of Payment Dates.

 

In the event that (i) the terms of any Security or Coupon appertaining thereto established in or pursuant to this Indenture permit the Company or any Holder thereof to extend the date on which any payment of principal of, or premium, if any, or interest, if any, on, or Additional Amounts, if any, with respect to such Security or Coupon is due and payable in accordance with the terms hereof or in the applicable Officer’s Certificate or supplemental indenture and (ii) the due date for any such payment shall have been so extended, then all references herein to the Stated Maturity of such payment (and all references of like import) shall be deemed to refer to the date as so extended.

 

Section 118.     Immunity of Stockholders, Directors, Officers and Agents of the Company.

 

No recourse under or upon any obligation, covenant or agreement contained in this Indenture, or in any Security, or because of any indebtedness evidenced thereby, shall be had against any past, present or future stockholder, employee, officer or director, as such, of the Company or of any of the Company’s predecessors or

 

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successors, either directly or through the Company or any predecessor or successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance of the Securities by the Holders and as part of the consideration for the issue of the Securities.

 

Section 119.     USA Patriot Act.

 

The parties hereto acknowledge that in order to help the United States government fight the funding of terrorism and money laundering activities, pursuant to Federal regulations that became effective on October 1, 2003 (Section 326 of the USA PATRIOT Act), all financial institutions are required to obtain, verify, record and update information that identifies each person establishing a relationship or opening an account.  The parties to this Indenture agree that they will provide to the Trustee (or any Paying Agent, Transfer Agent, Security Registrar or applicable party) such information as it may request, from time to time, in order for the Trustee (or other relevant party) to satisfy the requirements of the USA PATRIOT Act, including, but not limited to, the name, address, tax identification number and other information that will allow it to identify the individual or entity who is establishing the relationship or opening the account and may also ask for formation documents such as articles of incorporation or other identifying documents to be provided.

 

Section 120.     Force Majeure.

 

In no event shall the Trustee (in any capacity hereunder) 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 (in any capacity hereunder) shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

 

ARTICLE TWO

 

SECURITIES FORMS

 

Section 201.     Forms Generally.

 

Each Registered Security, Bearer Security, Coupon and temporary or permanent global Security issued pursuant to this Indenture shall be in the form established by or pursuant to a Board Resolution and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto, shall have such appropriate insertions, omissions, substitutions and other variations as are required or permitted by or pursuant to this Indenture or any indenture supplemental hereto and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may, consistently herewith, be determined by the officer of the Company executing such Security or Coupon as evidenced by the execution of such Security or Coupon.

 

Unless otherwise provided in or pursuant to this Indenture or any Securities, the Securities shall be issuable in registered form without Coupons.

 

Definitive Securities and definitive Coupons shall be printed, lithographed or engraved or produced by any combination of these methods or in any other manner, all as determined by the officer of the Company executing such Securities or Coupons, as evidenced by the execution of such Securities or Coupons.

 

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Section 202.     Form of Trustee’s Certificate of Authentication.

 

Subject to Section 611, the Trustee’s certificate of authentication shall be in substantially the following form:

 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture.

 

	
 
    	
[NAME OF TRUSTEE], as   Trustee
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Authorized Signatory
    

 

Section 203.     Securities in Global Form.

 

If, pursuant to Section 301, Securities of a series shall be issuable in temporary or permanent global form, any such Security may provide that it or any principal amount of such Securities shall represent the aggregate amount of all Outstanding Securities of such series (or such lesser principal amount as is permitted by the terms thereof) from time to time endorsed thereon or reflected on the books and records of the Trustee and may also provide that the aggregate principal amount of Outstanding Securities represented thereby may from time to time be increased or reduced to reflect exchanges.  Any endorsement of any Security in global form to reflect the principal amount, or any increase or decrease in the principal amount, or changes in the rights of Holders, of Outstanding Securities represented thereby shall be made in such manner and by such Person or Persons as shall be specified therein or pursuant to Section 301 with respect to such Security or in the Company Order to be delivered pursuant to Section 303 or 304 with respect thereto.  Subject to the provisions of Section 303 and, if applicable, Section 304, the Trustee shall deliver and redeliver any Security in global form in the manner and upon written instructions given by the Person or Persons specified therein or pursuant to Section 301 with respect to such Security or in the applicable Company Order.  If a Company Order pursuant to Section 303 (with respect to Outstanding Securities) or 304 has been, or simultaneously is, delivered, any instructions by the Company with respect to a Security in global form shall be in writing.  Notwithstanding the foregoing provisions of this paragraph, in the event a global Security is exchangeable for definitive Securities as provided in Section 305, then, unless otherwise provided in or pursuant to this Indenture with respect to the Securities of such series, the Trustee shall deliver and redeliver such global Security to the extent necessary to effect such exchanges, shall endorse such global Security, as applicable, to reflect any decrease in the principal amount thereto resulting from such exchanges and shall take such other actions, all as contemplated by Section 305.

 

Notwithstanding the provisions of Section 307, payment of principal of, any premium and interest on, and any Additional Amounts in respect of any Security in temporary or permanent global form shall be made to the Person in whose name such Security is registered.

 

Notwithstanding anything to the contrary in this Indenture, the Company, the Trustee and any agent of the Company and the Trustee shall treat as the Holder of the principal amount of Outstanding Securities represented by a global Security (i) in the case of a global Security in registered form, the Holder of such global Security in registered form, or (ii) in the case of a global Security in bearer form, the Person or Persons specified pursuant to Section 301.

 

ARTICLE THREE

 

THE SECURITIES

 

Section 301.     Amount Unlimited; Issuable in Series.

 

The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited.  The Securities may be issued in one or more series.

 

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With respect to any Securities to be authenticated and delivered hereunder, there shall be established in or pursuant to one or more Board Resolutions and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of any Securities of a series,

 

(1)                                 the title of the Securities of such series;

 

(2)                                 any limit upon the aggregate principal amount of the Securities of such series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of such series pursuant to Section 304, 305, 306, 905 or 1107 or upon repayment in part of any Security of such series pursuant to Article Thirteen);

 

(3)                                 if such Securities are to be issuable as Registered Securities, as Bearer Securities or alternatively as Bearer Securities and Registered Securities, and whether the Bearer Securities are to be issuable with Coupons, without Coupons or both, and any restrictions applicable to the offer, sale or delivery of the Bearer Securities and the terms, if any, upon which Bearer Securities may be exchanged for Registered Securities and vice versa;

 

(4)                                 if any of such Securities are to be issuable in global form, when any of such Securities are to be issuable in global form and (i) whether such Securities are to be issued in temporary or permanent global form or both, (ii) whether beneficial owners of interests in any such global Security may exchange such interests for Securities of the same series and of like tenor and of any authorized form and denomination, and the circumstances under which any such exchanges may occur, if other than in the manner specified in Section 305, (iii) the name of the Depositary with respect to any such global Security and (iv) if applicable and in addition to the Persons specified in Section 305, the Person or Persons who shall be entitled to make any endorsements on any such global Security and to give the instructions and take the other actions with respect to such global Security contemplated by the first paragraph of Section 203;

 

(5)                                 if any of such Securities are to be issuable as Bearer Securities, the date as of which any such Bearer Security shall be dated (if other than the date of original issuance of the first of such Securities to be issued);

 

(6)                                 if any of such Securities are to be issuable as Bearer Securities, whether interest in respect of any portion of a temporary Bearer Security in global form payable in respect of an Interest Payment Date therefor prior to the exchange, if any, of such temporary Bearer Security for definitive Securities shall be paid to any clearing organization with respect to the portion of such temporary Bearer Security held for its account and, in such event, the terms and conditions (including any certification requirements) upon which any such interest payment received by a clearing organization will be credited to the Persons entitled to interest payable on such Interest Payment Date;

 

(7)                                 the date or dates, or the method or methods, if any, by which such date or dates shall be determined, on which the principal and premium, if any, of such Securities is payable;

 

(8)                                 the rate or rates (which may be fixed or variable) at which such Securities shall bear interest, if any, or the method or methods, if any, by which such rate or rates are to be determined, the date or dates, if any, from which such interest shall accrue or the method or methods, if any, by which such date or dates are to be determined, the Interest Payment Dates, if any, on which such interest shall be payable and the Regular Record Date, if any, for the interest payable on Registered Securities on any Interest Payment Date, the notice, if any, to Holders regarding the determination of interest on a floating rate Security and the manner of giving such notice, and the basis upon which interest shall be calculated if other than that of a 360-day year of twelve 30-day months;

 

(9)                                 if in addition to or other than the Corporate Trust Office, the place or places where the principal of, any premium and interest on or any Additional Amounts with respect to such Securities shall

 

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be payable, any of such Securities that are Registered Securities may be surrendered for registration of transfer or exchange and notices or demands to or upon the Company or the Trustee in respect of such Securities and this Indenture may be served;

 

(10)                          whether any of such Securities are to be redeemable at the option of the Company and, if so, the date or dates on which, the period or periods within which, the price or prices at which and the other terms and conditions upon which such Securities may be redeemed, in whole or in part, at the option of the Company;

 

(11)                          if the Company is obligated to redeem or repay any of such Securities pursuant to any sinking fund or analogous provision or at the option of any Holder thereof and, if so, the date or dates on which, the period or periods within which, the price or prices at which and the other terms and conditions upon which such Securities shall be redeemed or repaid, in whole or in part, pursuant to such obligation, and any provisions for the remarketing of such Securities so redeemed or purchased;

 

(12)                          the denominations in which any of such Securities that are Registered Securities shall be issuable if other than minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof, and the minimum denominations in which any of such Securities that are Bearer Securities shall be issuable if other than the minimum denomination of $5,000;

 

(13)                       if other than the principal amount thereof, the portion of the principal amount of any of such Securities that shall be payable upon acceleration of the Maturity thereof pursuant to Section 502 or the method by which such portion is to be determined;

 

(14)                          if other than Dollars, the Foreign Currency in which purchases of such Securities must be made and the Foreign Currency in which payment of the principal of, any premium or interest on or any Additional Amounts with respect to any of such Securities shall be payable;

 

(15)                          if the amount of payments of principal of, any premium or interest on or any Additional Amounts with respect to such Securities may be determined with reference to an index, formula or other method or methods (which index, formula or method or methods may be based, without limitation, on one or more Currencies, commodities, equity indices or other indices), and, if so, the terms and conditions upon which and the manner in which such amounts shall be determined and paid or payable;

 

(16)                          any deletions from, modifications of or additions to the Events of Default or covenants of the Company with respect to any of such Securities (whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set forth herein);

 

(17)                          if any one or more of Section 401 relating to satisfaction and discharge, Section 402(2) relating to defeasance or Section 402(3) relating to covenant defeasance shall not be applicable to such Securities, and any covenants in addition to or other than those specified in Section 402(3) relating to such Securities which shall be subject to covenant defeasance, and, if such Securities are subject to repayment at the option of the Holders thereof pursuant to Article Thirteen, if the Company’s obligation repay such Securities will be subject to satisfaction and discharge pursuant to Section 401 or to defeasance or covenant defeasance pursuant to Section 402, and any deletions from, or modifications or additions to, the provisions of Article Four (including any modification which would permit satisfaction and discharge, defeasance or covenant defeasance to be effected with respect to less than all of the outstanding Securities of such series) in respect of such Securities;

 

(18)                          if any of such Securities are to be issuable upon the exercise of warrants, and the time, manner and place for such Securities to be authenticated and delivered;

 

(19)                          if any of such Securities are issuable in global form and are to be issuable in definitive form (whether upon original issue or upon exchange of a temporary Security) only upon receipt of certain

 

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certificates or other documents or satisfaction of other conditions, the form and terms of such certificates, documents or conditions;

 

(20)                          the circumstances under which the Company will pay Additional Amounts on such Securities in respect of any tax, assessment or other government charge and whether the Company will have the option to redeem such Securities rather than pay such Additional Amounts;

 

(21)                          if there is more than one Trustee, the identity of the Trustee that has any obligations, duties and remedies with respect to such Securities and, if not the Trustee, the identity of each Security Registrar, Paying Agent or Authenticating Agent with respect to such Securities;

 

(22)                          the Person to whom any interest on any Registered Security of such series shall be payable, if other than the Person in whose name such Registered Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, the manner in which, or the Person to whom, any interest on any Bearer Security of such series shall be payable, if other than upon presentation and surrender of the Coupons appertaining thereto as they severally mature, and the extent to which, or the manner in which, any interest payable on a temporary global Security will be paid if other than in the manner provided in this Indenture;

 

(23)                          the right, if any, to extend interest payment periods and the duration of any such deferral period; and

 

(24)                          any other terms of such Securities and any deletions from or modifications or additions to this Indenture in respect of such Securities.

 

All Securities of any one series and all Coupons, if any, appertaining to Bearer Securities of such series shall be substantially identical except as to Currency of payments due thereunder, denomination and the rate of interest, or method of determining the rate of interest, if any, Maturity, and the date from which interest, if any, shall accrue and except as may otherwise be provided by the Company in or pursuant to the Board Resolution and set forth in the Officer’s Certificate or in any indenture or indentures supplemental hereto pertaining to such series of Securities.  The terms of the Securities of any series may provide, without limitation, that the Securities shall be authenticated by the Trustee on original issue from time to time upon receipt of a Company Order of persons designated in the Board Resolution, Officer’s Certificate or supplemental indenture and Opinion of Counsel, as the case may be, pertaining to such series of Securities and that such persons are authorized to determine, consistent with such Board Resolution, Officer’s Certificate or supplemental indenture and Opinion of Counsel, such terms and conditions of the Securities of such series as are specified in such Board Resolution, Officer’s Certificate or supplemental indenture and Opinion of Counsel.

 

All Securities of any one series need not be issued at the same time and, unless otherwise provided by the Company as contemplated by this Section 301, a series may be reopened from time to time without notice to or the consent of any Holders for issuances of additional Securities of such series or to establish additional terms of such series of Securities.

 

If any of the terms of the Securities of any series shall be established by action taken by or pursuant to Board Resolutions, such Board Resolution(s) shall be delivered to the Trustee at or prior to the delivery of the Officer’s Certificate setting forth the terms of such series.

 

Section 302.     Currency; Denominations.

 

Unless otherwise provided in or pursuant to this Indenture, the principal of, any premium and interest on, and any Additional Amounts with respect to, the Securities shall be payable in Dollars.  Unless otherwise provided in or pursuant to this Indenture, Registered Securities denominated in Dollars shall be issuable in registered form without Coupons in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof, and the Bearer Securities denominated in Dollars shall be issuable in minimum denominations of $5,000.  Securities not

 

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denominated in Dollars shall be issuable in such denominations as are established with respect to such Securities in or pursuant to this Indenture.

 

Section 303.     Execution, Authentication, Delivery and Dating.

 

Securities shall be executed on behalf of the Company by its Chairman, its President or one of its Vice Presidents and by its Treasurer, one of its Assistant Treasurers, its Secretary or one of its Assistant Secretaries or any person designated in writing as authorized by the Company to execute and deliver such Securities.  Coupons shall be executed on behalf of the Company by the Chairman, the President or any Vice President of the Company.  The signature of any of these officers on the Securities or any Coupons appertaining thereto may be manual or facsimile.

 

Securities and any Coupons appertaining thereto bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall, to the fullest extent permitted by law, bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities or Coupons.

 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities, together with any Coupons appertaining thereto, executed by the Company, to the Trustee for authentication and, provided that the Board Resolution and Officer’s Certificate or supplemental indenture or indentures with respect to such Securities referred to in Section 301 and a Company Order for the authentication and delivery of such Securities have been delivered to the Trustee, the Trustee in accordance with the Company Order and subject to the provisions hereof and of such Securities shall authenticate and deliver such Securities.  In authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities and any Coupons appertaining thereto, the Trustee shall receive, and (subject to Sections 315(a) through 315(d) of the Trust Indenture Act) shall be fully protected in conclusively relying upon, an Opinion of Counsel to the following effect, which Opinion of Counsel may contain such assumptions, qualifications and limitations as such counsel and the Trustee shall deem appropriate:

 

(a)                                 the form or forms and terms of such Securities and Coupons, if any, have been established in conformity with Sections 201 and 301 of this Indenture; and

 

(b)                                 all conditions precedent set forth in this Indenture to the authentication and delivery of such Securities and Coupons, if any, appertaining thereto have been complied with and that such Securities and Coupons, when completed by appropriate insertions (if applicable), executed by duly authorized officers of the Company, delivered by duly authorized officers of the Company to the Trustee for authentication pursuant to this Indenture, and authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance with their terms, except as enforcement thereof may be subject to or limited by bankruptcy, insolvency, reorganization, receivership, moratorium, arrangement, fraudulent conveyance, fraudulent transfer or other similar laws relating to or affecting creditors’ rights generally or by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law) and subject to such other exceptions as shall be reasonably acceptable to the Trustee; and

 

(c)                                  that all laws and requirements in respect of the execution and delivery by the Company of such Securities have been complied with.

 

If all the Securities of any series are not to be issued at one time, it shall not be necessary to deliver an Opinion of Counsel at the time of issuance of each Security, but such opinion, with such modifications as counsel shall deem appropriate, shall be delivered at or before the time of issuance of the first Security of such series.

 

The Trustee shall not be required to authenticate or to cause an Authenticating Agent to authenticate any Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or will otherwise be in a manner which is not reasonably

 

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acceptable to the Trustee or if the Trustee, being advised by counsel, determines that such action may not lawfully be taken or that such action is not permitted by the Indenture.

 

Each Registered Security shall be dated the date of its authentication.  Each Bearer Security shall be dated as of the date specified in or pursuant to this Indenture.

 

No Security or Coupon appertaining thereto shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Security a certificate of authentication substantially in the form provided for in Section 202 or 611 executed by or on behalf of the Trustee or by the Authenticating Agent by the manual signature of one of its authorized signatories.  Such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder.  Except as permitted by Section 306 or 307 or as may otherwise be provided in or pursuant to this Indenture, the Trustee shall not authenticate and deliver any Bearer Security unless all Coupons appertaining thereto then matured have been detached and cancelled.

 

Section 304.     Temporary Securities.

 

Pending the preparation of definitive Securities, the Company may execute and deliver to the Trustee and, upon Company Order, the Trustee or Authenticating Agent shall authenticate and deliver, in the manner provided in Section 303, temporary Securities in lieu thereof which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued, in registered form or, if authorized in or pursuant to this Indenture, in bearer form with one or more Coupons or without Coupons and with such appropriate insertions, omissions, substitutions and other variations as the officers of the Company executing such Securities may determine, as conclusively evidenced by their execution of such Securities.  Such temporary Securities may be in global form.

 

Except in the case of temporary Securities in global form, which shall be exchanged in accordance with the provisions set forth in this Indenture or the provisions established pursuant to Section 301, if temporary Securities are issued, the Company shall cause definitive Securities to be prepared without unreasonable delay.  Except as otherwise provided in or pursuant to this Indenture, after the preparation of definitive Securities of the same series and containing terms and provisions that are identical to those of any temporary Securities, such temporary Securities shall be exchangeable for such definitive Securities upon surrender of such temporary Securities at an Office or Agency for such Securities, without charge to any Holder thereof.  Except as otherwise provided in or pursuant to this Indenture, upon surrender for cancellation of any one or more temporary Securities (accompanied by any unmatured Coupons appertaining thereto), the Company shall execute and, upon Company Order, the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of authorized denominations of the same series and containing identical terms and provisions as well as any Coupons appertaining thereto; provided, however, that no definitive Bearer Security, except as provided in or pursuant to this Indenture, shall be delivered in exchange for a temporary Registered Security; and provided, further, that a definitive Bearer Security shall be delivered in exchange for a temporary Bearer Security only in compliance with the conditions set forth in or pursuant to this Indenture.  Unless otherwise provided in or pursuant to this Indenture with respect to a temporary global Security, until so exchanged the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series.

 

Section 305.     Registration, Transfer and Exchange.

 

(1)                                 With respect to the Registered Securities of each series, if any, the Company shall cause to be kept a register (each such register being herein sometimes referred to as the “Security Register”) at an Office or Agency for such series in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of the Registered Securities of such series and of transfers of the Registered Securities of such series.  Such Office or Agency shall be the “Security Registrar” for that series of Securities.  Unless otherwise specified in or pursuant to this Indenture or the Securities, the initial Security Registrar for each series of Securities shall be as specified in the last paragraph of Section 1002.  The Company shall have the right to remove and replace from time to time the Security Registrar for any series of Securities; provided that no such removal or replacement shall be effective until a successor Security Registrar with respect to such series of Securities shall have been appointed by the Company and shall have accepted such appointment.  In the event that the Trustee shall not be or shall cease to

 

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be Security Registrar with respect to a series of Securities, it shall have the right to examine the Security Register for such series at all reasonable times.  There shall be only one Security Register for each series of Securities.

 

Except as otherwise provided in or pursuant to this Indenture, upon surrender for registration of transfer of any Registered Security of any series at any Office or Agency for such series, the Company shall execute, and, upon Company Order, the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Registered Securities of the same series denominated as authorized in or pursuant to this Indenture, of a like aggregate principal amount bearing a number not contemporaneously outstanding and containing identical terms and provisions.

 

Except as otherwise provided in or pursuant to this Indenture, at the option of the Holder, Registered Securities of any series may be exchanged for other Registered Securities of the same series containing identical terms and provisions, in any authorized denominations, and of a like aggregate principal amount, upon surrender of the Securities to be exchanged at any Office or Agency for such series.  Whenever any Registered Securities are so surrendered for exchange, the Company shall execute, and, upon Company Order, the Trustee shall authenticate and deliver, the Registered Securities which the Holder making the exchange is entitled to receive.

 

If provided in or pursuant to this Indenture, with respect to Securities of any series, at the option of the Holder, Bearer Securities of such series may be exchanged for Registered Securities of such series containing identical terms, denominated as authorized in or pursuant to this Indenture and in the same aggregate principal amount, upon surrender of the Bearer Securities to be exchanged at any Office or Agency for such series, with all unmatured Coupons and all matured Coupons in default thereto appertaining.  If the Holder of a Bearer Security is unable to produce any such unmatured Coupon or Coupons or matured Coupon or Coupons in default, such exchange may be effected if the Bearer Securities are accompanied by payment in funds acceptable to the Company and the Trustee in an amount equal to the face amount of such missing Coupon or Coupons, or the surrender of such missing Coupon or Coupons may be waived by the Company and the Trustee if there is furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless.  If thereafter the Holder of such Bearer Security shall surrender to any Paying Agent any such missing Coupon in respect of which such a payment shall have been made, such Holder shall be entitled to receive the amount of such payment; provided, however, that, except as otherwise provided in Section 1002, interest represented by Coupons shall be payable only upon presentation and surrender of those Coupons at an Office or Agency for such series located outside the United States (which such Office or Agency shall not be the Corporate Trust Office) and the Company shall advise the Trustee of any such presentation and surrender in writing.  Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at any such Office or Agency for such series in exchange for a Registered Security of such series and like tenor after the close of business at such Office or Agency on (i) any Regular Record Date and before the opening of business at such Office or Agency on the relevant Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such Office or Agency on the related date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the Coupon relating to such Interest Payment Date or proposed date of payment, as the case may be (or, if such Coupon is so surrendered with such Bearer Security, such Coupon shall be returned to the Person so surrendering the Bearer Security), and interest or Defaulted Interest, as the case may be, shall not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of the Registered Security issued in exchange for such Bearer Security, but shall be payable only to the Holder of such Coupon when due in accordance with the provisions of this Indenture.

 

If provided in or pursuant to this Indenture with respect to Securities of any series, at the option of the Holder, Registered Securities of such series may be exchanged for Bearer Securities upon such terms and conditions as may be provided in or pursuant to this Indenture with respect to such series.

 

Whenever any Securities are surrendered for exchange as contemplated by the immediately preceding two paragraphs, the Company shall execute, and, upon Company Order, the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive.

 

Notwithstanding the foregoing, except as otherwise provided in or pursuant to this Indenture, the global Securities of any series shall be exchangeable for definitive certificated Securities of such series only if (i) the Depositary for such global Securities notifies the Company that it is unwilling or unable or no longer qualified to

 

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continue as a Depositary for such global Securities or at any time the Depositary for such global Securities ceases to be a clearing agency registered as such under the Exchange Act, if so required by applicable law or regulation, and no successor Depositary for such Securities shall have been appointed by the Company within 90 days of such notification or of the Company becoming aware of the Depositary’s ceasing to be so registered, as the case may be, (ii) the Company, in its sole discretion, determines that the Securities of such series shall no longer be represented by one or more global Securities and executes and delivers to the Trustee a Company Order to the effect that such global Securities shall be so exchangeable or (iii) an Event of Default has occurred and is continuing with respect to such Securities and the Depositary or the Company specifically requests such exchange.

 

If the beneficial owners of interests in a global Security are entitled to exchange such interests for definitive Securities as the result of an event described in clause (i), (ii) or (iii) of the preceding paragraph, then without unnecessary delay but in any event not later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee definitive Securities in such form and denominations as are required by or pursuant to this Indenture, and of the same series, containing identical terms and in aggregate principal amount equal to the principal amount of such global Security, executed by the Company.  On or after the earliest date on which such interests may be so exchanged, such global Security shall be surrendered from time to time by the Depositary (or its custodian) as shall be specified in the Company Order with respect thereto (which the Company agrees to deliver), and in accordance with instructions given to the Trustee and the Depositary as shall be specified in the Company Order with respect thereto to the Trustee, to be exchanged, in whole or in part, for definitive Securities as described above without charge.  The Trustee, upon receipt of a Company Order, shall authenticate and make available for delivery, in exchange for each portion of such surrendered global Security, a like aggregate principal amount of definitive Securities of the same series of authorized denominations and of like tenor as the portion of such global Security to be exchanged, which (unless such Securities are not issuable both as Bearer Securities and as Registered Securities, in which case the definitive Securities exchanged for the global Security shall be issuable only in the form in which the Securities are issuable, as provided in or pursuant to this Indenture) shall be in the form of Bearer Securities or Registered Securities, or any combination thereof, and which shall be in such denominations and, in the case of Registered Securities, registered in such names, as shall be specified by the Depositary, but subject to the satisfaction of any certification or other requirements to the issuance of Bearer Securities; provided, however, that no such exchanges may occur during a period beginning at the opening of business 15 days before any selection of Securities of the same series to be redeemed and ending on the relevant Redemption Date; and provided, further, that (unless otherwise provided in or pursuant to this Indenture) no Bearer Security delivered in exchange for a portion of a global Security shall be mailed or otherwise delivered to any location in the United States.  Promptly following any such exchange in part, such global Security shall be returned by the Trustee to such Depositary (or its custodian) or such other Depositary (or its custodian) referred to above in accordance with the instructions of the Company referred to above, and the Trustee shall endorse such global Security to reflect the decrease in the principal amount thereof resulting from such exchange.  If a Registered Security is issued in exchange for any portion of a global Security after the close of business at the Office or Agency for such Security where such exchange occurs on or after (i) any Regular Record Date for such Security and before the opening of business at such Office or Agency on the next Interest Payment Date, or (ii) any Special Record Date for such Security and before the opening of business at such Office or Agency on the related proposed date for payment of interest or Defaulted Interest, as the case may be, interest shall not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of such Registered Security, but shall be payable on such Interest Payment Date or proposed date for payment, as the case may be, only to the Person to whom interest in respect of such portion of such global Security shall be payable in accordance with the provisions of this Indenture.

 

All Securities issued upon any registration of transfer or exchange of Securities pursuant to this Section 305 shall be evidence of the same debt and shall entitle the Holders thereof to the same benefits under this Indenture as the Securities surrendered upon such registration of transfer or exchange.

 

Every Registered Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Security Registrar for such Security) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar for such Security duly executed by the Holder thereof or his attorney duly authorized in writing.

 

No service charge shall be made for any registration of transfer or exchange of Securities, or any redemption or repayment of Securities, but the Company may require payment of a sum sufficient to cover any tax

 

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or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304, 905 or 1107 or upon repayment in part of any Registered Security pursuant to Article Thirteen, in each case not involving any transfer.

 

Except as otherwise provided in or pursuant to this Indenture, the Company shall not be required (i) to issue, register the transfer of or exchange any Securities during a period beginning at the opening of business 15 days before the day of the selection for redemption of Securities of like tenor and terms and of the same series under Section 1103 and ending at the close of business on the day of such selection, or (ii) to register the transfer of or exchange any Registered Security, or portion thereof, so selected for redemption, except in the case of any Registered Security to be redeemed in part, the portion thereof not to be redeemed, or (iii) to exchange any Bearer Security so selected for redemption except, to the extent provided with respect to such Bearer Security, that such Bearer Security may be exchanged for a Registered Security of like tenor and terms and of the same series, provided that such Registered Security shall be simultaneously surrendered for redemption with written instruction for payment consistent with the provisions of this Indenture or (iv) to issue, register the transfer of or exchange any Security which, in accordance with its terms, has been surrendered for repayment at the option of the Holder pursuant to Article Thirteen and not withdrawn, except the portion, if any, of such Security not to be so repaid.

 

Section 306.     Mutilated, Destroyed, Lost and Stolen Securities.

 

If any mutilated Security or a Security with a mutilated Coupon appertaining to it is surrendered to the Trustee, subject to the provisions of this Section 306, the Company shall execute and, upon Company Order, the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series containing identical terms and of like principal amount and bearing a number not contemporaneously outstanding, with Coupons appertaining thereto corresponding to the Coupons, if any, appertaining to the surrendered Security.

 

If there be delivered to the Company and to the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security or Coupon, and (ii) such security or indemnity as may be reasonably required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security or Coupon has been acquired by a bona fide purchaser, the Company shall execute and, upon receipt of a Company Order the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Security or in exchange for the Security to which a destroyed, lost or stolen Coupon appertains with all appurtenant Coupons not destroyed, lost or stolen, a new Security of the same series containing identical terms and of like principal amount and bearing a number not contemporaneously outstanding, with Coupons corresponding to the Coupons, if any, appertaining to such destroyed, lost or stolen Security or to the Security to which such destroyed, lost or stolen Coupon appertains.

 

Notwithstanding the foregoing provisions of this Section 306, in case any mutilated, destroyed, lost or stolen Security or Coupon has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security or Coupon; provided, however, that payment of principal of, any premium or interest on or any Additional Amounts with respect to any Bearer Securities shall, except as otherwise provided in Section 1002, be payable only at an Office or Agency for such Securities located outside the United States and, unless otherwise provided in or pursuant to this Indenture, any interest on Bearer Securities and any Additional Amounts with respect to such interest shall be payable only upon presentation and surrender of the Coupons appertaining thereto.

 

Upon the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee and its legal counsel) connected therewith.

 

Every new Security and any Coupons appertaining thereto issued pursuant to this Section in lieu of any destroyed, lost or stolen Security, or in exchange for a Security to which a destroyed, lost or stolen Coupon appertains shall constitute a separate obligation of the Company, whether or not the destroyed, lost or stolen Security and Coupons appertaining thereto or the destroyed, lost or stolen Coupon shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of such series and any Coupons, if any, duly issued hereunder.

 

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The provisions of this Section, as amended or supplemented pursuant to this Indenture with respect to particular Securities or generally, shall (to the extent lawful) be exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or Coupons.

 

Section 307.     Payment of Interest and Certain Additional Amounts; Rights to Interest and Certain Additional Amounts Preserved.

 

Unless otherwise provided in or pursuant to this Indenture, any interest on and any Additional Amounts with respect to any Registered Security which shall be payable, and are punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered as of the close of business on the Regular Record Date for such interest.  Unless otherwise provided in or pursuant to this Indenture, in case a Bearer Security is surrendered in exchange for a Registered Security after the close of business at an Office or Agency for such Security on any Regular Record Date therefor and before the opening of business at such Office or Agency on the next succeeding Interest Payment Date therefor, such Bearer Security shall be surrendered without the Coupon relating to such Interest Payment Date and interest shall not be payable on such Interest Payment Date in respect of the Registered Security issued in exchange for such Bearer Security, but shall be payable only to the Holder of such Coupon when due in accordance with the provisions of this Indenture.

 

Unless otherwise provided in or pursuant to this Indenture, any interest on and any Additional Amounts with respect to any Registered Security which shall be payable, but shall not be punctually paid or duly provided for, on any Interest Payment Date for such Registered Security (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder thereof on the relevant Regular Record Date by virtue of having been such Holder; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or (2) below:

 

(1)                                 The Company may elect to make payment of any Defaulted Interest to the Person in whose name such Registered Security (or a Predecessor Security thereof) shall be registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner.  The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on such Registered Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when so deposited to be held in trust for the benefit of the Person entitled to such Defaulted Interest as in this clause provided.  Thereupon, the Trustee or the Company shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment.  As applicable, the Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holder of such Registered Security (or a Predecessor Security thereof) at his address as it appears in the Security Register not less than 10 days prior to such Special Record Date.  Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Person in whose name such Registered Security (or a Predecessor Security thereof) shall be registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2).  In case a Bearer Security is surrendered at the Office or Agency for such Security in exchange for a Registered Security after the close of business at such Office or Agency on any Special Record Date and before the opening of business at such Office or Agency on the related proposed date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the Coupon relating to such Defaulted Interest and Defaulted Interest shall not be payable on such proposed date of payment in respect of the Registered Security issued in exchange for such Bearer Security, but shall be payable only to the Holder of such Coupon when due in accordance with the provisions of this Indenture; or

 

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

 

Unless otherwise provided in or pursuant to this Indenture or the Securities of any particular series, at the option of the Company, interest on Registered Securities on any Interest Payment Date may be paid by mailing a check to the address of the Person entitled thereto as such address shall appear in the Security Register or by transfer to an account maintained by the Person entitled thereto with a bank located in the United States of America.

 

Subject to the foregoing provisions of this Section and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.

 

Section 308.     Persons Deemed Owners.

 

Prior to due presentment of a Registered Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Registered Security is registered in the Security Register as the owner of such Registered Security for the purpose of receiving payment of principal of, any premium and (subject to Sections 305 and 307) interest on and any Additional Amounts with respect to such Registered Security and for all other purposes whatsoever, whether or not any payment with respect to such Registered Security shall be overdue, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be affected or subject to any liabilities by notice to the contrary.

 

In the case of definitive Securities, the Company, the Trustee and any agent of the Company or the Trustee may treat the bearer of any Bearer Security or the bearer of any Coupon as the absolute owner of such Security or Coupon for the purpose of receiving payment thereof or on account thereof and for all other purposes whatsoever, whether or not any payment with respect to such Security or Coupon shall be overdue, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be affected or subject to any liabilities by notice to the contrary.

 

No owner of any beneficial interest in any global Security held on its behalf by a Depositary shall have any rights under this Indenture with respect to such global Security, and such Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the owner of such global Security for all purposes whatsoever.  None of the Company, the Trustee or any agent of the Company or the Trustee will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests, nor shall Trustee have any responsibility or liability for any action or inaction of any Depositary.

 

Notwithstanding the foregoing, nothing 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 applicable Depositary, as a Holder, with respect to a global Security or impair, as between such Depositary and the owners of beneficial interests in such global Security, the operation of customary practices governing the exercise of the rights of such Depositary (or its nominee) as the Holder of such global Security.

 

Section 309.     Cancellation.

 

All Securities and Coupons surrendered for payment, redemption, registration of transfer, exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be promptly delivered to the Trustee, and any such Securities and Coupons, as well as Securities and Coupons surrendered directly to the Trustee for any such purpose, shall be cancelled promptly by the Trustee.  The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be cancelled

 

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promptly by the Trustee.  No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by or pursuant to this Indenture.  All cancelled Securities and Coupons held by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures, unless by a Company Order the Company directs their return to it.

 

Section 310.     Computation of Interest.

 

Except as otherwise provided in or pursuant to this Indenture or in the Securities of any series, interest on the Securities shall be computed on the basis of a 360-day year of twelve 30-day months.

 

Section 311.     CUSIP Numbers.

 

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

 

ARTICLE FOUR

 

SATISFACTION AND DISCHARGE OF INDENTURE

 

Section 401.     Satisfaction and Discharge.

 

Unless, pursuant to Section 301, the provisions of this Section 401 shall not be applicable with respect to the Securities of any series, upon the direction of the Company by a Company Order, this Indenture shall cease to be of further effect with respect to any series of Securities specified in such Company Order and any Coupons appertaining thereto, and the Trustee, on receipt of a Company Order, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture as to such series, when

 

(1)                                 either

 

(a)                                 all Securities of such series theretofore authenticated and delivered and all Coupons appertaining thereto (other than (i) Coupons appertaining to Bearer Securities of such series surrendered in exchange for Registered Securities of such series and maturing after such exchange whose surrender is not required or has been waived as provided in Section 305, (ii) Securities and Coupons of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 306, (iii) Coupons appertaining to Securities of such series called for redemption and maturing after the relevant Redemption Date whose surrender has been waived as provided in Section 1106, and (iv) Securities and Coupons of such series for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or

 

(b)                                 all Securities of such series and, in the case of (i) or (ii) below, if applicable, any Coupons appertaining thereto not theretofore delivered to the Trustee for cancellation

 

(i)                                     have become due and payable, or

 

(ii)                                  will become due and payable at their Stated Maturity within one year, or

 

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(iii)                               if redeemable at the option of the Company, are to be called for redemption within one year under arrangements reasonably satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company,

 

and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for such purpose, money in the Currency in which such Securities are payable in an amount sufficient to pay and discharge the entire indebtedness on such Securities and any Coupons appertaining thereto not theretofore delivered to the Trustee for cancellation, including the principal of, any premium and interest on, and, to the extent that the Securities of such series provide for the payment of Additional Amounts thereon and the amount of any such Additional Amounts which are or will be payable with respect to the Securities of such series is at the time of deposit reasonably determinable by the Company (in the exercise by the Company of its sole discretion), any Additional Amounts with respect to, such Securities and any Coupons appertaining thereto, to the date of such deposit (in the case of Securities which have become due and payable) or to the Maturity thereof, as the case may be;

 

(2)                                 the Company has paid or caused to be paid all other sums payable hereunder by the Company with respect to the Outstanding Securities of such series and any Coupons appertaining thereto (including amounts payable to the Trustee pursuant to Section 606); and

 

(3)                                 the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture as to the Securities of such series have been complied with.

 

In the event there are Securities of two or more series Outstanding hereunder, the Trustee shall be required to execute an instrument acknowledging satisfaction and discharge of this Indenture only if requested to do so with respect to Securities of such series as to which it is Trustee, if in form and content reasonably acceptable to the Trustee and if the other conditions thereto are met.

 

Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of Securities, the obligations of the Company to the Trustee under Section 606, the Trustee’s rights, protections and immunities hereunder and, if money shall have been deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section, the obligations of the Company and the Trustee with respect to the Securities of such series under Sections 305, 306, 403, 404, 1002, 1003 and, if applicable to the Securities of such series, 1004 (including, without limitation, with respect to the payment of Additional Amounts, if any, with respect to such Securities as contemplated by Section 1004, but only to the extent that the Additional Amounts payable with respect to such Securities exceed the amount deposited in respect of such Additional Amounts pursuant to Section 401(1)(b)), any rights of Holders of the Securities of such series (unless otherwise provided pursuant to Section 301 with respect to the Securities of such series) to require the Company to repay, and the obligations of the Company to repay, such Securities at the option of the Holders pursuant to Article Thirteen hereof, shall survive such satisfaction and discharge.

 

Section 402.     Defeasance and Covenant Defeasance.

 

(1)                                 Unless, pursuant to Section 301, either or both of (i) defeasance of the Securities of or within a series under clause (2) of this Section 402 or (ii) covenant defeasance of the Securities of or within a series under clause (3) of this Section 402 shall not be applicable with respect to the Securities of such series, then such provisions, together with the other provisions of this Section 402 (with such modifications thereto as may be specified pursuant to Section 301 with respect to any Securities), shall be applicable to such Securities and any Coupons appertaining thereto, and the Company may at its option by Board Resolution, at any time, with respect to the Securities of or within such series and any Coupons appertaining thereto, elect to have Section 402(2) or Section 402(3) be applied to such Outstanding Securities and any Coupons appertaining thereto upon compliance with the conditions set forth below in this Section 402.  Unless otherwise specified pursuant to Section 301 with respect to the Securities of any series, defeasance under clause (2) of this Section 402 and covenant defeasance under clause (3) of this Section 402 may be effected only with respect to all, and not less than all, of the Outstanding

 

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Securities of any series.  To the extent that the terms of any Security or Coupon appertaining thereto established in or pursuant to this Indenture permit the Company or any Holder thereof to extend the date on which any payment of principal of, or premium, if any, or interest, if any, on, or Additional Amounts, if any, with respect to such Security or Coupon is due and payable, then unless otherwise provided pursuant to Section 301, the right to extend such date shall terminate upon defeasance or covenant defeasance, as the case may be.

 

(2)                                 Upon the Company’s exercise of the above option applicable to this Section 402(2) with respect to any Securities of or within a series, the Company shall be deemed to have been discharged from its obligations with respect to such Outstanding Securities and any Coupons appertaining thereto on the date the conditions set forth in clause (4) of this Section 402 are satisfied (hereinafter, “defeasance”).  For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Outstanding Securities and any Coupons appertaining thereto, which shall thereafter be deemed to be “Outstanding” only for the purposes of clause (5) of this Section 402 and the other Sections of this Indenture referred to in subclauses (i) through (iv) of this clause (2), and to have satisfied all of its other obligations under such Securities and any Coupons appertaining thereto and this Indenture insofar as such Securities and any Coupons appertaining thereto are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive until otherwise terminated or discharged hereunder:  (i) the rights of Holders of such Outstanding Securities and any Coupons appertaining thereto to receive, solely (except as provided in subclause (ii) below) from the trust fund described in clause (4)(a) of this Section 402 and as more fully set forth in this Section 402 and Section 403, payments in respect of the principal of (and premium, if any) and interest, if any, on, and Additional Amounts, if any, with respect to, such Securities and any Coupons appertaining thereto when such payments are due, (ii) the obligations of the Company and the Trustee with respect to such Securities under Sections 1002, 1003 and, if applicable to the Securities of such series, 1004 (including, without limitation, with respect to the payment of Additional Amounts, if any, with respect to such Securities as contemplated by Section 1004, but only to the extent that the Additional Amounts payable with respect to such Securities exceed the amount deposited in respect of such Additional Amounts pursuant to clause (4)(a) of this Section 402)), any rights of Holders of such Securities (unless otherwise provided pursuant to Section 301 with respect to the Securities of such series) to require the Company to repay, and the obligations of the Company to repay, such Securities at the option of the Holders pursuant to Article Thirteen hereof, (iii) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (iv) this Section 402 and Sections 403 and 404.  The Company may exercise its option under this Section 402(2) notwithstanding the prior exercise of its option under Section 402(3) with respect to such Securities and any Coupons appertaining thereto.

 

(3)                                 Upon the Company’s exercise of the above option applicable to this Section 402(3) with respect to any Securities of or within a series, the Company shall, to the extent specified pursuant to Section 301, be released from its obligations under any covenant applicable to such Securities with respect to such Securities and any Coupons appertaining thereto shall cease to be applicable to such Securities on and after the date the conditions set forth in clause (4) of this Section 402 are satisfied (hereinafter, “covenant defeasance”), and such Securities and any Coupons appertaining thereto shall thereafter be deemed to be not “Outstanding” for the purposes of any direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in connection with any such covenant, but shall continue to be deemed “Outstanding” for all other purposes hereunder.  For this purpose, such covenant defeasance means, with respect to such Outstanding Securities and any Coupons appertaining thereto, the Company may omit to comply with, and shall have no liability in respect of, any term, condition or limitation set forth in any such Section or any such other covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such Section or such other covenant or by reason of reference in any such Section or such other covenant to any other provision herein or in any other document and such omission to comply shall not constitute a default or an Event of Default under Section 501(4) or otherwise, as the case may be, but, except as specified above, the remainder of this Indenture and such Securities and Coupons appertaining thereto shall be unaffected thereby.

 

(4)                                 The following shall be the conditions to application of clause (2) or (3) of this Section 402 to any Outstanding Securities of or within a series and any Coupons appertaining thereto:

 

(a)                                 The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of Section 607 who shall agree to comply with the provisions of this Section 402 applicable to it) as trust funds in trust for the purpose of making the

 

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following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities and any Coupons appertaining thereto, (1) an amount in Dollars or in such Foreign Currency in which such Securities and any Coupons appertaining thereto are then specified as payable at Stated Maturity or, if such defeasance or covenant defeasance is to be effected in compliance with subsection (f) below, on the relevant Redemption Date, as the case may be, or (2) Government Obligations applicable to such Securities and Coupons appertaining thereto (determined on the basis of the Currency in which such Securities and Coupons appertaining thereto are then specified as payable at Stated Maturity or, if such defeasance or covenant defeasance is to be effected in compliance with subsection (f) below, on the relevant Redemption Date, as the case may be) which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment of principal of (and premium, if any) and interest, if any, on such Securities and any Coupons appertaining thereto, money in an amount, or (3) a combination thereof, in any case, in an amount, sufficient, without consideration of any reinvestment of such principal and interest, in the written opinion of a nationally recognized firm of independent public accountants or a nationally recognized investment bank delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge, (y) the principal of (and premium, if any) and interest, if any, on, and, to the extent that such Securities provide for the payment of Additional Amounts thereon and the amount of any such Additional Amounts which are or will be payable with respect to the Securities of such series is at the time of deposit reasonably determinable by the Company (in the exercise by the Company of its reasonable discretion), any Additional Amounts with respect to, such Outstanding Securities and any Coupons appertaining thereto on the Maturity or Stated Maturity of such principal or interest, and (z) any mandatory sinking fund payments or analogous payments applicable to such Outstanding Securities and any Coupons appertaining thereto on the day on which such payments are due and payable in accordance with the terms of this Indenture and of such Securities and any Coupons appertaining thereto.

 

(b)                                 Such defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default under, this Indenture or any other agreement or instrument to which the Company or any Significant Subsidiary is a party or by which it is bound.

 

(c)                                  No Event of Default or event which, with notice or lapse of time or both, would become an Event of Default with respect to such Securities and any Coupons appertaining thereto shall have occurred and be continuing on the date of such deposit, and, solely in the case of defeasance under Section 402(2), no Event of Default with respect to such Securities and any Coupons appertaining thereto under clause (6) or (7) of Section 501 or event which with notice or lapse of time or both would become an Event of Default with respect to such Securities and any Coupons appertaining thereto under clause (6) or (7) of Section 501 shall have occurred and be continuing at any time during the period ending on and including the 91st day after the date of such deposit (it being understood that this condition to defeasance under Section 402(2) shall not be deemed satisfied until the expiration of such period).

 

(d)                                 In the case of defeasance pursuant to Section 402(2), the Company shall have delivered to the Trustee an Opinion of Counsel stating that (x) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (y) since the date of this Indenture there has been a change in applicable federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders and beneficial owners of such Outstanding Securities and any Coupons appertaining thereto will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such defeasance had not occurred; or, in the case of covenant defeasance pursuant to Section 402(3), the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders and beneficial owners of such Outstanding Securities and any Coupons appertaining thereto will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such covenant defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not occurred.

 

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(e)                                  The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance or covenant defeasance, as the case may be, under this Indenture have been complied with.

 

(f)                                   If the monies or Government Obligations or combination thereof, as the case may be, deposited under subclause (a) above are sufficient to pay the principal of, and premium, if any, and interest, if any, on and, to the extent provided in such subclause (a), Additional Amounts with respect to, such Securities and any Coupons appertaining thereto on a particular Redemption Date, the Company shall have given the Trustee irrevocable instructions to redeem such Securities on such date and to provide notice of such redemption to Holders as provided in or pursuant to this Indenture.

 

(g)                                  Notwithstanding any other provisions of this Section 402(4), such defeasance or covenant defeasance shall be effected in compliance with any additional or substitute terms, conditions or limitations which may be imposed on the Company in connection therewith pursuant to Section 301.

 

(5)                                 Subject to the provisions of the last paragraph of Section 1003, all money and Government Obligations (or other property as may be provided pursuant to Section 301) (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee) pursuant to clause (4)(a) of Section 402 in respect of any Outstanding Securities of any series and any Coupons appertaining thereto shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and any Coupons appertaining thereto and this Indenture, to the payment, either directly or through any Paying Agent (other than the Company or any Subsidiary or Affiliate of the Company acting as Paying Agent), to the Holders of such Securities and any Coupons appertaining thereto of all sums due and to become due thereon in respect of principal (and premium, if any) and interest and Additional Amounts, if any, but such money need not be segregated from other funds except to the extent required by law.

 

Unless otherwise specified in or pursuant to this Indenture or any Securities, if, after a deposit referred to in Section 402(4)(a) has been made, (a) the Holder of a Security in respect of which such deposit was made is entitled to, and does, elect pursuant to Section 301 or the terms of such Security to receive payment in a Currency other than that in which the deposit pursuant to Section 402(4)(a) has been made in respect of such Security, or (b) a Conversion Event occurs in respect of the Foreign Currency in which the deposit pursuant to Section 402(4)(a) has been made, the indebtedness represented by such Security and any Coupons appertaining thereto shall be deemed to have been, and will be, fully discharged and satisfied through the payment of the principal of (and premium, if any), and interest, if any, on, and Additional Amounts, if any, with respect to, such Security as the same becomes due out of the proceeds yielded by converting (from time to time as specified below in the case of any such election) the amount or other property deposited in respect of such Security into the Currency in which such Security becomes payable as a result of such election or Conversion Event based on (x) in the case of payments made pursuant to subclause (a) above, the applicable market exchange rate for such Currency in effect on the second Business Day prior to each payment date, or (y) with respect to a Conversion Event, the applicable market exchange rate for such Foreign Currency in effect (as nearly as feasible) at the time of the Conversion Event.

 

The Company shall pay and indemnify the Trustee against any tax, fee or other charge, imposed on or assessed against the Government Obligations deposited pursuant to this Section 402 or the principal or interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of such Outstanding Securities and any Coupons appertaining thereto.

 

Anything in this Section 402 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or Government Obligations (or other property and any proceeds therefrom) held by it as provided in clause (4)(a) of this Section 402 which, in the written opinion of a nationally recognized firm of independent public accountants or a nationally recognized investment bank delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect a defeasance or covenant defeasance, as applicable, in accordance with this Section 402.

 

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Section 403.     Application of Trust Money.

 

Subject to the provisions of the last paragraph of Section 1003, all money and Government Obligations deposited with the Trustee pursuant to Section 401 or 402 shall be held in trust and applied by it, in accordance with the provisions of the Securities, the Coupons and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent), to the Persons entitled thereto, of the principal, premium, interest and Additional Amounts for whose payment such money has or Government Obligations have been deposited with or received by the Trustee; but such money and Government Obligations need not be segregated from other funds except to the extent required by law.

 

Section 404.     Reinstatement.

 

If the Trustee (or other qualifying trustee appointed pursuant to Section 402(4)(a)) or any Paying Agent is unable to apply any moneys or Government Obligations deposited pursuant to Section 401(1) or 402(4)(a) to pay any principal of or premium, if any, or interest, if any, on or Additional Amounts, if any, with respect to the Securities of any series and any Coupons appertaining thereto by reason of any legal proceeding or any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture, the Securities of such series and any Coupons appertaining thereto shall be revived and reinstated as though no such deposit had occurred, until such time as the Trustee (or other qualifying trustee) or Paying Agent is permitted to apply all such moneys and Government Obligations to pay the principal of and premium, if any, and interest, if any, on and Additional Amounts, if any, in respect of the Securities of such series as contemplated by Section 401 or 402 as the case may be, and Section 403; provided, however, that if the Company makes any payment of the principal of or premium, if any, or interest, if any, on or Additional Amounts, if any, in respect of the Securities of such series following the reinstatement of its obligations as aforesaid, the Company shall be subrogated to the rights of the Holders (and Trustee) of such Securities to receive such payment from the funds held by the Trustee (or other qualifying trustee) or Paying Agent.

 

ARTICLE FIVE

 

REMEDIES

 

Section 501.     Events of Default.

 

“Event of Default,” wherever used herein with respect to Securities of any series, means any one of the following events unless such event is specifically deleted or modified in or pursuant to the supplemental indenture, Board Resolution or Officer’s Certificate establishing the terms of such series pursuant to this Indenture:

 

(1)                                 default in the payment of any interest on, or any Additional Amounts payable in respect of any interest on, any of the Securities of such series or any Coupon appertaining thereto when such interest or such Additional Amounts, as the case may be, become due and payable, and continuance of such default for a period of 30 days; or

 

(2)                                 default in the payment of any principal of or premium, if any, on, or any Additional Amounts payable in respect of any principal of or premium, if any, on, any of the Securities of such series when due (whether at Stated Maturity, upon redemption at the option of the Company, upon repayment at the option of the Holder or otherwise); or

 

(3)                                 default in the deposit of any sinking fund payment, if applicable, or payment under any analogous provision when due with respect to any of the Securities of such series; or

 

(4)                                 default in the performance or observance, or breach, of any covenant or other agreement of the Company in this Indenture or any of the Securities of such series (other than a covenant or other agreement for which the consequences of breach, nonperformance or nonobservance are addressed elsewhere in this Section 501 or a covenant or other agreement which has expressly been included in this Indenture, whether or not by means of a supplemental indenture, solely for the benefit of Securities of a

 

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series other than such series), and continuance of such default or breach (without such default or breach having been waived in accordance of the provisions of this Indenture) for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Outstanding Securities of such series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or

 

(5)                                 a failure by the Company to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) in respect of any Indebtedness of the Company in excess of $25,000,000 principal amount under any bond, debenture, note or other evidence of Indebtedness, or a default under any such bond, debenture, note or other evidence of Indebtedness by the Company has resulted in the acceleration prior to the stated maturity of the principal amount thereof in excess of $25,000,000, in each case, unless such Indebtedness is discharged, or the acceleration of such Indebtedness is rescinded or annulled, in each case within 30 days after the Company’s failure to pay such Indebtedness or the date of acceleration of the stated maturity of the principal amount of such Indebtedness, as the case may be; or

 

(6)                                 the entry by a court having jurisdiction in the premises of a decree or order adjudging the Company or any Significant Subsidiary as bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company or any Significant Subsidiary under the Bankruptcy Code or any other similar applicable U.S. federal or state law, or appointing a custodian, receiver, conservator, liquidator, trustee or assignee in bankruptcy or insolvency or other similar official of the Company or any Significant Subsidiary or of any substantial part of the property of the Company or any Significant Subsidiary, or ordering the winding up or liquidation of the affairs of the Company or any Significant Subsidiary, and, in each case, the continuance of any such decree or order unstayed and in effect for a period of 90 consecutive days; or

 

(7)                                 the commencement by the Company or any Significant Subsidiary of a voluntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated as bankrupt or insolvent, or the consent by the Company or any Significant Subsidiary to the entry of a decree or order for relief in respect of the Company or any Significant Subsidiary in an involuntary case or proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by the Company or any Significant Subsidiary of a petition or answer or consent seeking reorganization, arrangement, adjustment or composition under the Bankruptcy Code or any other similar applicable U.S. federal or state law, or the consent by the Company or any Significant Subsidiary to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, conservator, liquidator, trustee or assignee in bankruptcy or insolvency or other similar official of the Company or any Significant Subsidiary or of any substantial part of the property of the Company or any Significant Subsidiary, or the making by the Company or any Significant Subsidiary of an assignment for the benefit of creditors, or the taking of corporate action by the Company or any Significant Subsidiary in furtherance of any such action, or an admission in writing by the Company or any Significant Subsidiary of its inability to pay its debts generally as they become due; or

 

(8)                                 any other Event of Default provided in or pursuant to this Indenture with respect to Securities of such series.

 

An Event of Default under one series of Securities issued under this Indenture will not necessarily be an Event of Default under another series of Securities issued under this Indenture.

 

Section 502.     Acceleration of Maturity; Rescission and Annulment.

 

If an Event of Default (other than an Event of Default specified in clause (6) or (7) of Section 501) with respect to Securities of any series occurs and is continuing, then either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series may declare the principal amount of all the Securities of such series, or such lesser amount as may be provided for in the Securities of such series, and

 

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accrued and unpaid interest, if any, thereon to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount or such lesser amount, as the case may be, and such accrued and unpaid interest shall become immediately due and payable.  If an Event of Default specified in clause (6) or (7) of Section 501 with respect to the Securities of any series occurs, then the principal amount of all of the Securities of such series, or such lesser amount as may be provided for in the Securities of such series, and accrued and unpaid interest, if any, thereon shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of the Securities of such series.

 

At any time after Securities of any series have been accelerated by declaration of the Trustee or the Holders and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if

 

(1)                                 the Company has paid or deposited, or cause to be paid or deposited, with the Trustee a sum of money sufficient to pay

 

(a)                                 all overdue installments of any interest on any Securities of such series and any Coupons appertaining thereto which have become due otherwise than by such declaration of acceleration and any Additional Amounts with respect thereto,

 

(b)                                 the principal of and any premium on any Securities of such series which have become due otherwise than by such declaration of acceleration and any Additional Amounts with respect thereto and, to the extent permitted by applicable law, interest thereon at the rate or respective rates, as the case may be, provided for in or with respect to such Securities, or, if no such rate or rates are so provided, at the rate or respective rates, as the case may be, of interest borne by such Securities, and

 

(c)                                  to the extent permitted by applicable law, interest upon installments of any interest, if any, which have become due otherwise than by such declaration of acceleration and any Additional Amounts with respect thereto at the rate or respective rates, as the case may be, provided for in or with respect to such Securities, or, if no such rate or rates are so provided, at the rate or respective rates, as the case may be, of interest borne by such Securities; and

 

(2)                                 all Events of Default with respect to Securities of such series, other than the non-payment of the principal of, any premium and interest on, and any Additional Amounts with respect to Securities of such series which shall have become due solely by such declaration of acceleration, shall have been waived as provided in Section 513 or cured.

 

No such rescission shall affect any subsequent default or impair any right consequent thereon.

 

Section 503.     Collection of Indebtedness and Suits for Enforcement by Trustee.

 

The Company covenants that if:

 

(1)                                 default is made in the payment of any interest on, or any Additional Amounts payable in respect of any interest on, any Security or any Coupon appertaining thereto when such interest or Additional Amounts, as the case may be, shall have become due and payable and such default continues for a period of 30 days, or

 

(2)                                 default is made in the payment of any principal of or premium, if any, on, or any Additional Amounts payable in respect of any principal of or premium, if any, on, any Security at its Maturity, and such default continues for three Business Days, or

 

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(3)                                 default is made in the deposit of any sinking fund payment, if applicable, when due, and such default continues for three Business Days,

 

the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities and any Coupons appertaining thereto, the whole amount of money then due and payable with respect to such Securities and any Coupons appertaining thereto, with interest upon the overdue principal, any premium and, to the extent permitted by applicable law, upon any overdue installments of interest and Additional Amounts at the rate or respective rates, as the case may be, provided for or with respect to such Securities or, if no such rate or rates are so provided, at the rate or respective rates, as the case may be, of interest borne by such Securities, and, in addition thereto, such further amount of money as shall be sufficient to cover the reasonable costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and all other amounts due to the Trustee hereunder.

 

If the Company fails to pay the money it is required to pay the Trustee pursuant to the preceding paragraph forthwith upon the demand of the Trustee, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the money so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon such Securities and any Coupons appertaining thereto and collect the monies adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities and any Coupons appertaining thereto, wherever situated.

 

If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may proceed to protect and enforce its rights and the rights of the Holders of Securities of such series and any Coupons appertaining thereto by such appropriate judicial proceedings most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or such Securities or in aid of the exercise of any power granted herein or therein, or to enforce any other proper remedy.

 

Section 504.     Trustee May File Proofs of Claim.

 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relating to the Company or any other obligor upon the Securities or the property of the Company or such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of any overdue principal, premium, interest or Additional Amounts) shall be entitled and empowered, by intervention in such proceeding or otherwise,

 

(1)                                 to file and prove a claim for the whole amount, or such lesser amount as may be provided for in the Securities of such series, of the principal and any premium, interest and Additional Amounts owing and unpaid in respect of the Securities and any Coupons appertaining thereto and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee (in any capacity hereunder), its agents or counsel) and of the Holders of Securities or any Coupons allowed in such judicial proceeding, and

 

(2)                                 to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

 

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder of Securities or any Coupons 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 of Securities or any Coupons, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee (acting in any capacity hereunder), its agents and counsel and any other amounts due the Trustee hereunder.

 

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Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder of a Security or any Coupon any plan of reorganization, arrangement, adjustment or composition affecting the Securities or Coupons or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder of a Security or any Coupon in any such proceeding.

 

Section 505.     Trustee May Enforce Claims without Possession of Securities or Coupons.

 

All rights of action and claims under this Indenture or any of the Securities or Coupons may be prosecuted and enforced by the Trustee without the possession of any of the Securities or Coupons or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery or judgment, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee (in any capacity hereunder), its agents and counsel, shall be for the ratable benefit of each and every Holder of a Security or Coupon in respect of which such judgment has been recovered.

 

Section 506.     Application of Money Collected.

 

Any money collected by the Trustee pursuant to this Article Five with respect to the Securities of any series shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal, or any premium, interest or Additional Amounts, upon presentation of such Securities or the Coupons, if any, appertaining thereto, or both, as the case may be, and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 

FIRST:  To the payment of all amounts due the Trustee (acting in any capacity hereunder and including reasonable, documented, out-of-pocket fees and expenses of its agents and counsel as permitted hereunder) and any predecessor Trustee under this Indenture;

 

SECOND:  To the payment of the amounts then due and unpaid upon the Securities and any Coupons for principal and any premium, interest and Additional Amounts in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the aggregate amounts due and payable on such Securities and Coupons for principal and any premium, interest and Additional Amounts;

 

THIRD:  The balance, if any, to the Person or Persons entitled thereto hereunder or under applicable law as directed to Trustee in writing accompanied with supporting documentation satisfactory to the Trustee.

 

Section 507.     Limitations on Suits.

 

No Holder of any Security of any series or any Coupons appertaining thereto shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless

 

(1)                                 such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of such series;

 

(2)                                 the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

(3)                                 such Holder or Holders have offered to the Trustee indemnity or security reasonably satisfactory to it against the losses, damages, costs, expenses and liabilities, including reasonable attorneys’ fees, costs and expenses and court costs, which might be incurred by the Trustee in compliance with such request;

 

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(4)                                 the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and

 

(5)                                 no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series.

 

Notwithstanding the foregoing, no Holder shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture or any Security to affect, disturb or prejudice the rights of any other such Holders or Holders of Securities of any other series, or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all such Holders.

 

Section 508.     Unconditional Right of Holders to Receive Principal and any Premium, Interest and Additional Amounts.

 

Notwithstanding any other provision in this Indenture, the Holder of any Security or Coupon shall have the right, which is absolute and unconditional, to receive payment of the principal of, and premium, if any, and (subject to Sections 305 and 307) interest, if any, on and any Additional Amounts with respect to such Security or such Coupon, as the case may be, on the respective Stated Maturity or Maturities therefor specified in such Security or Coupon (or, in the case of redemption, on the Redemption Date or, in the case of repayment pursuant to Article Thirteen hereof at the option of such Holder if provided in or pursuant to this Indenture, on the date such repayment is due) and to institute suit for the enforcement of any such payment and such right shall not be impaired without the consent of such Holder.

 

Section 509.     Restoration of Rights and Remedies.

 

If the Trustee or any Holder of a Security or a Coupon has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case the Company, the Trustee and each such Holder shall, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Trustee and each such Holder shall continue as though no such proceeding had been instituted.

 

Section 510.     Rights and Remedies Cumulative.

 

To the extent permitted by applicable law and except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or Coupons in the last paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to each and every Holder of a Security or a Coupon is intended to be exclusive of any other right or remedy, and every right and remedy, to the extent permitted by law, shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 511.     Delay or Omission Not Waiver.

 

No delay or omission of the Trustee or of any Holder of any Security or Coupon to exercise any right or remedy accruing upon any Event of Default shall, to the extent permitted by applicable law, impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein.  Every right and remedy given by this Article or by law to the Trustee or to any Holder of a Security or a Coupon may, to the extent permitted by applicable law, be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by such Holder, as the case may be.

 

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Section 512.     Control by Holders of Securities.

 

The Holders of a majority in aggregate principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with respect to the Securities of such series and any Coupons appertaining thereto, provided that

 

(1)                                 such direction shall not be in conflict with any rule of law or with this Indenture or with the Securities of any series,

 

(2)                                 the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction, and

 

(3)                                 such direction is not unduly prejudicial to the rights of the other Holders of Securities of such series (or any other series) not joining in such action.

 

Section 513.     Waiver of Past Defaults.

 

The Holders of a majority in aggregate principal amount of the Outstanding Securities of any series on behalf of the Holders of all the Securities of such series and any Coupons appertaining thereto may waive any continuing default hereunder with respect to such series and its consequences, except

 

(1)                                 a default in the payment of the principal of, any premium or interest on, or any Additional Amounts with respect to, any Security of such series or any Coupons appertaining thereto (provided, however, that in the event such a default becomes an Event of Default, then the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series may, in accordance with Section 502, rescind a declaration of acceleration arising from such Event of Default and its consequences), or

 

(2)                              a default in respect of a covenant or provision hereof that under Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected.

 

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

 

Section 514.     Waiver of Usury, Stay or Extension Laws.

 

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

 

Section 515.     Undertaking for Costs.

 

All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of any undertaking to pay the costs of such suit, and that such court may in its

 

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discretion assess reasonable costs, including reasonable attorneys’ fees against any party litigant in such suit having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section 515 shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in aggregate principal amount of Outstanding Securities of any series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of (or premium, if any) or interest, if any, on or Additional Amounts, if any, with respect to any Security on or after the respective Stated Maturities expressed in such Security (or, in the case of redemption, on or after the Redemption Date, and, in the case of repayment at the option of the Holder pursuant to Article Thirteen hereof, on or after the date for repayment).

 

ARTICLE SIX

 

THE TRUSTEE

 

Section 601.     Certain Rights of Trustee.

 

In connection with this Indenture and any Securities issued hereunder, subject to Sections 315(a) through 315(d) of the Trust Indenture Act:

 

(1)                                 the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper or document believed in good faith by it to be genuine and to have been signed or presented by the proper party or parties;

 

(2)                                 any request or direction of the Company mentioned herein shall be sufficiently evidenced by an Officer’s Certificate, Company Request or a Company Order (in each case, other than delivery of any Security, together with any Coupons appertaining thereto, to the Trustee for authentication and delivery pursuant to Section 303 which shall be sufficiently evidenced as provided therein) and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution;

 

(3)                                 whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence shall be herein specifically prescribed) may, in the absence of negligence or willful misconduct on its part, conclusively rely upon an Officer’s Certificate, Opinion of Counsel or both; and the Trustee, in the absence of negligence or willful misconduct on its part, shall not be liable for any action it takes, or omits in reliance on such Officer’s Certificate or Opinion of Counsel;

 

(4)                                 the Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon;

 

(5)                                 the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by or pursuant to this Indenture at the request or direction of any of the Holders of Securities of any series or any Coupons appertaining thereto pursuant to this Indenture, unless such Holders shall have offered to the Trustee indemnity or security reasonably satisfactory to the Trustee against the losses, damages, costs, expenses and liabilities, including reasonable, documented, out-of-pocket attorneys’ fees, costs and expenses and court costs, which might be incurred by it in compliance with such request or direction;

 

(6)                                 the Trustee shall not be bound to make any investigation into the facts, calculation or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, coupon or other paper or document, but the Trustee, in its sole 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, during business hours and upon reasonable notice, the books, records and premises of the Company, personally or

 

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by agent or attorney and shall incur no liability or additional liability of any kind by reason of such further inquiry or investigation;

 

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

 

(8)                                 the Trustee need perform only those duties that are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; 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 its rights or powers, provided that the Trustee’s conduct does not constitute willful misconduct or negligence; the Trustee is not required to give any bond or surety with respect to the performance of its duties or the exercise of its powers under this Indenture; and the permissive right of the Trustee to take the actions permitted by this Indenture shall not be construed as an obligation or duty to do so;

 

(9)                                 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 and roles hereunder, and each agent, custodian and other Person employed to act hereunder;

 

(10)                          the Trustee shall not be deemed to have knowledge of any default or Event of Default except a default or Event of Default of which a Responsible Officer shall have actual knowledge or shall have received written notification;

 

(11)                          the Trustee may request that the Company deliver an Officer’s Certificate setting forth the names of individuals and titles of officers authorized at such times to take specified actions pursuant to this Indenture;

 

(12)                          in no event shall the Trustee be responsible or liable for special, indirect, punitive 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; and

 

(13)                          Trustee (in any capacity hereunder) shall not be obligated to make any calculation hereunder or in connection with the transactions contemplated hereunder and shall have no liability or responsibility for any calculations made by the Company, who shall be solely responsible for any calculation made hereunder or in connection with the transactions contemplated hereunder.

 

Section 602.     Notice of Defaults.

 

Within 90 days after a Responsible Officer of the Trustee has actual knowledge of the occurrence of any default hereunder with respect to the Securities of any series, the Trustee shall transmit by mail or electronic means to all Holders of Securities of such series, notice of such default hereunder known to the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any), or interest, if any, on, or Additional Amounts or any sinking fund installment with respect to, any Security of such series, the Trustee shall be protected in withholding such notice if and so long as it in good faith determines that the withholding of such notice is in the best interest of the Holders of Securities and Coupons of such series; and provided, further, that in the case of any default of the character specified in Section 501(4) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof.  For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series; provided that any default that results solely from the taking of an action that would have been permitted but for the continuation of a previous default will be deemed to be cured if such previous default is cured prior to becoming an Event of Default.

 

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Section 603.     Not Responsible for Recitals or Issuance of Securities.

 

The recitals contained herein and in the Securities, except the Trustee’s certificate of authentication, and in any Coupons shall be taken as the statements of the Company and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness.  The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities or any Coupons, or any offering materials related thereto, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder and that the statements made by it in a Statement of Eligibility on Form T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein.  Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of the Securities or the proceeds thereof.

 

Section 604.     May Hold Securities; Transactions with the Company.

 

The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other Person that may be an agent of the Trustee or the Company, in its individual or any other capacity, may become the owner or pledgee of Securities or Coupons and, subject to Sections 310(b) and 311 of the Trust Indenture Act, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other Person; provided, however, that if the Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or such other Person acquires any conflicting interest relating to any of its duties with respect to the Securities, it must either eliminate such conflict or resign as Trustee, Authenticating Agent, Paying Agent, Security Registrar or as such agent of the Trustee, as the case may be.

 

Section 605.     Money Held in Trust.

 

Except as provided in Section 403 and Section 1003, money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law and shall be held uninvested.  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 606.     Compensation and Reimbursement.

 

The Company agrees:

 

(1)                                 to pay to the Trustee from time to time such compensation as agreed in writing for all services rendered by the Trustee (in any capacity or role) hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust);

 

(2)                                 except as otherwise expressly provided herein, to reimburse the Trustee (acting in any capacity or role hereunder) upon its request for all reasonable, documented, out-of-pocket expenses incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable, documented, out-of-pocket compensation and the expenses and disbursements of its agents and counsel, such as attorneys’ fees, costs and expenses), except any such expense, disbursement or advance as may be attributable to the Trustee’s negligence or willful misconduct; and

 

(3)                                 to indemnify the Trustee (acting in any capacity or role hereunder), its directors, officers, employees and its agents for, and to hold them harmless against, any loss, claim, cause of action, damage, liability or reasonable cost or expense (including, without limitation, the reasonable, documented, out-of-pocket fees and disbursements of the Trustee’s agents, legal counsel, accountants and experts) incurred without negligence or willful misconduct on their part, arising out of or in connection with this Indenture or the acceptance or administration of the trust or trusts hereunder, including the reasonable costs and expenses of defending themselves against any claim (whether asserted by the Company, a Holder or any other Person) or liability in connection with the exercise or performance of any of their powers or duties hereunder, except to the extent that any such loss, claim, cause of action, damage, liability, cost or expense was due to the Trustee’s negligence or willful misconduct as determined by a court of competent

 

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jurisdiction in a final non-appealable order.  The Trustee shall notify the Company promptly of any claim for which it may seek indemnity.  Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder, unless and to the extent that the Company is materially prejudiced thereby.  The Company shall defend the claim and the Trustee shall cooperate in the defense.  The Company need not pay for any settlement made without its consent, which consent will not be unreasonably withheld.

 

The foregoing payment obligations and indemnities shall survive the termination of this Indenture and the resignation or removal of the Trustee.

 

As security for the performance of the obligations of the Company under this Section 606, the Trustee shall have a lien prior to the Securities of any series upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of, or premium or interest on or any Additional Amounts with respect to Securities or any Coupons appertaining thereto.

 

Any compensation or expense incurred by the Trustee after a default specified by Section 501(6) or (7) is intended to constitute an expense of administration under any then applicable bankruptcy or insolvency law.  “Trustee” for purposes of this Section 606 shall include any predecessor Trustee but the negligence, or willful misconduct of any Trustee shall not affect the rights of any other Trustee under this Section 606.  The provisions of this Section 606 shall, to the extent permitted by law, survive any termination of this Indenture (including, without limitation, termination pursuant to any bankruptcy or insolvency laws) and the resignation or removal of the Trustee.

 

Section 607.     Corporate Trustee Required; Eligibility; Disqualification.

 

There shall at all times be a Trustee hereunder that is a Corporation, organized and doing business under the laws of the United States of America, any state thereof or the District of Columbia, eligible under Sections 310(a)(1) and (5) of the Trust Indenture Act to act as trustee under an indenture qualified under the Trust Indenture Act and that has a combined capital and surplus (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000 subject to supervision or examination by U.S. federal or state authority.  The Trustee shall comply with Section 310(b) of the Trust Indenture Act.  If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

 

Section 608.     Resignation and Removal; Appointment of Successor.

 

(1)                                 No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee pursuant to Section 609.

 

(2)                                 Subject to Section 608(1) hereof, the Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company.  If a successor Trustee required by Section 609 has not been appointed or the instrument of acceptance by such successor Trustee shall not have been delivered to the Trustee within 60 days after the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to such series.

 

(3)                                 The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, delivered to the Trustee and the Company.  If a successor Trustee required by Section 609 has not been appointed or the instrument of acceptance by such successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to such series.

 

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(4)                                 If at any time:

 

(a)                                 the Trustee shall fail to comply with the obligations imposed upon it under Section 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company or any Holder of a Security of such series who has been a bona fide Holder of a Security of such series for at least six months, or

 

(b)                                 the Trustee shall cease to be eligible under Section 607 and shall fail to resign after written request therefor by the Company or any such Holder, or

 

(c)                                  the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation,

 

then, in any such case, (i) the Company, by or pursuant to a Board Resolution, may remove the Trustee with respect to all Securities or the Securities of such series, or (ii) subject to Section 315(e) of the Trust Indenture Act, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees.

 

(5)                                 If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by or pursuant to a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 609.  If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 609, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company.  If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 609, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 

(6)                                 The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to the Holders of the Securities of such series in conformity with the notice provisions of Section 106.  Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.

 

Section 609.     Acceptance of Appointment by Successor.

 

(1)                                 Upon the appointment hereunder of any successor Trustee with respect to all Securities, such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties hereunder of the retiring Trustee; but, on the request of the Company or such successor Trustee, such retiring Trustee, upon payment of its charges and all sums owing to the retiring Trustee, shall execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and, subject to Section 1003, shall duly assign, transfer and deliver to such successor Trustee all

 

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property and money held by such retiring Trustee hereunder, subject nevertheless to its claim, if any, provided for in Section 606.

 

(2)                                 Upon the appointment hereunder of any successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and such successor Trustee shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, such successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees, that each such Trustee shall be separate and apart from any other such Trustee and that no Trustee shall be responsible for any notice given to, or received by, or any act or failure to act on the part of any other Trustee hereunder, and, upon the execution and delivery of such supplemental indenture, the resignation or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall have no further responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture with respect to the Securities of that or those series to which the appointment of such successor Trustee relates other than as hereinafter expressly set forth, and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on written request of the Company or such successor Trustee, such retiring Trustee, upon payment of its charges and all sums owing to the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor relates and subject to Section 1003 shall duly assign, transfer and deliver to such successor Trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, subject to its claim, if any, provided for in Section 606.

 

(3)                                 Upon request of any Person appointed hereunder as a successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (1) or (2) of this Section, as the case may be.  No removed or resigning Trustee shall have any liability or responsibility for the action or inaction of any successor Trustee.

 

(4)                                 No Person shall accept its appointment hereunder as a successor Trustee unless at the time of such acceptance such successor Person shall be qualified and eligible under this Article, including, without limitation, Section 607.

 

Section 610.     Merger, Conversion, Consolidation or Succession to Business.

 

Any Corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any Corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any Corporation succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder (provided that such Corporation shall otherwise be qualified and eligible under this Article), without the execution or filing of any paper or any further act on the part of any of the parties hereto.  In case any Securities shall have been authenticated but not delivered by the Trustee then in office, any such successor to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities.  In case any Securities shall not have been authenticated by such predecessor Trustee, any such successor Trustee may authenticate and deliver such Securities in either its own name or that of its predecessor Trustee.

 

Section 611.     Appointment of Authenticating Agent.

 

The Trustee may appoint one or more Authenticating Agents acceptable to the Company with respect to one or more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of

 

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that or those series issued upon original issue, exchange, registration of transfer, partial redemption, partial repayment or pursuant to Section 306, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be legally valid and binding obligations for all purposes as if authenticated by the Trustee hereunder.  Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent.

 

Each Authenticating Agent must be acceptable to the Company and, except as provided in or pursuant to this Indenture, shall at all times be a Corporation that would be permitted under the Trust Indenture Act to act as trustee under an indenture qualified under the Trust Indenture Act, is authorized under applicable law and by its charter to act as an Authenticating Agent and has a combined capital and surplus (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000.  If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect specified in this Section.

 

Any Corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any Corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any Corporation succeeding to all or substantially all of the corporate agency or corporate trust business of an Authenticating Agent, shall be the successor of such Authenticating Agent hereunder, provided such Corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the Trustee or the Authenticating Agent.

 

An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and the Company.  The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and the Company.  Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall (i) give written notice of such appointment in conformity with the notice provisions of Section 106 hereof, to all Holders of Registered Securities, if any, of the series with respect to which such Authenticating Agent shall serve, as their names and addresses appear in the Security Register, and (ii) if Securities of the series are issued as Bearer Securities, publish notice of such appointment at least once in an Authorized Newspaper in the place where such successor Authenticating Agent has its principal office if such office is located outside the United States.  Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent.  No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section.

 

The Company agrees to pay each Authenticating Agent from time to time reasonable compensation for its services under this Section.  If the Trustee makes such payments, it shall be entitled to be reimbursed for such payments, subject to the provisions of Section 606.

 

The provisions of Section 308 and Article Six shall be applicable to each Authenticating Agent.

 

If an Authenticating Agent is appointed with respect to one or more series of Securities pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to or in lieu of the Trustee’s certificate of authentication, an alternate certificate of authentication in substantially the following form:

 

This is one of the Securities of the series designated herein referred to in the within-mentioned Indenture.

 

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[NAME OF AUTHENTICATING   AGENT],
    
	
 
    	
as Authenticating Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Authorized Signatory
    
	
 
    	
 
    
	
 
    	
Dated:
    

 

If all of the Securities of any series may not be originally issued at one time, and if the Trustee does not have an office capable of authenticating Securities upon original issuance located in a Place of Payment where the Company wishes to have Securities of such series authenticated upon original issuance, the Trustee, if so requested in writing (which writing need not be accompanied by or contained in an Officer’s Certificate of the Company), shall appoint in accordance with this Section an Authenticating Agent having an office in a Place of Payment designated by the Company with respect to such series of Securities.

 

Section 612.     Duties of the Trustee.

 

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

 

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

 

(a)                                 The duties of the Trustee shall be determined by the express provisions of this Indenture and the Trustee need perform only those duties that are specifically set forth in this Indenture and no others and no implied covenants or obligations shall be read into this Indenture against the Trustee.

 

(b)                                 In the absence of negligence or willful misconduct on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon Officer’s Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of this Indenture; however, in the case of any such Officer’s Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officer’s Certificates and Opinions of Counsel to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).

 

(3)                                 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:

 

(a)                                 This clause (3) does not limit the effect of sub-clause (2) of this Section 612.

 

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

 

(c)                                  The Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any series in good faith in accordance with the direction of the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series.

 

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(4)                                 Every provision of this Indenture that in any way relates to the Trustee is subject to Sections 612(1), (2) and (3).

 

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

 

(6)                                 No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur financial or personal liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers if it shall have reasonable grounds to believe that repayment of such funds or adequate indemnity or security against such risk or liability is not reasonably assured to it.

 

(7)                                 Every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section and to the provisions of the Trust Indenture Act.  The rights, protections and indemnities afforded the Trustee hereunder shall also apply to any Paying Agent, Security Registrar, Transfer Agent and Authenticating Agent, as applicable.

 

ARTICLE SEVEN

 

HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

Section 701.     Company to Furnish Trustee Names and Addresses of Holders.

 

In accordance with Section 312(a) of the Trust Indenture Act, the Company shall furnish or cause to be furnished to the Trustee

 

(1)                                 semi-annually with respect to Securities of each series not later than January 1 and July 1 of each year or upon such other dates as are set forth in or pursuant to the Board Resolution or indenture supplemental hereto authorizing such series, a list, in each case in such form as the Trustee may reasonably require, of the names and addresses of Holders as of the applicable date, and

 

(2)                                 at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished,

 

provided, however, that so long as the Trustee is the Security Registrar no such list shall be required to be furnished.

 

Section 702.     Preservation of Information; Communications to Holders; Communications by Holders with Other Holders.

 

(1)                                 The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar.  The Trustee shall comply with the obligations imposed upon it pursuant to Section 312 of the Trust Indenture Act.

 

(2)                                 Holders of any series of Securities may communicate pursuant to Section 312(b) of the Trust Indenture Act with other Holders of that series or any other series of Securities with respect to their rights under this Indenture or the Securities of that series or any other series of Securities.  Every Holder of Securities or Coupons, by receiving and holding the same, agrees with the Company and the Trustee that none of the Company or the Trustee or any agent of any of them shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders of Securities in accordance with the Trust Indenture Act, regardless of the source from which such information was derived.

 

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Section 703.     Reports by Trustee.

 

(1)                                 Within 60 days after May 15 of each year commencing with the first May 15 following the first issuance of Securities pursuant to Section 301, if required by Section 313(a) of the Trust Indenture Act, the Trustee shall transmit, pursuant to Section 313(c) of the Trust Indenture Act, a brief report dated as of such May 15 with respect to any of the events specified in said Sections 313(a) and 313(b)(2) which may have occurred since the later of the immediately preceding May 15 and the date of this Indenture.

 

(2)                                 The Trustee shall transmit the reports required by the Trust Indenture Act, including Sections 313(a), (c) and (d), at the times, in the manner and to the Persons specified therein.

 

(3)                                 A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange, if any, upon which any Securities are listed and the Commission, as well as the Company.

 

Section 704.     Reports by the Company.

 

To the extent there exist any Outstanding Securities, the Company shall file with the Trustee and the Commission, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to Section 314(a) of the Trust Indenture Act at the times and in the manner provided pursuant to such Act; provided, that any such information, documents or reports filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the same is so required to be filed with the Commission.

 

The Company’s filing of any quarterly or annual report or other information, document or other report with the Commission pursuant to Section 13 or 15(d) of the Exchange Act on the Commission’s EDGAR system shall be deemed to constitute delivery of such filing to the Trustee and the Holders.  The Trustee shall have no obligation whatsoever to determine whether or not such information, documents, or reports are accurate or have been so filed.  If any such reports are delivered to the Trustee, delivery of such reports, information and documents to the Trustee 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 as permitted hereunder).

 

ARTICLE EIGHT

 

CONSOLIDATION, MERGER AND SALES

 

Section 801.     Company May Consolidate, Etc., Only on Certain Terms.

 

The Company shall not, in any transaction or series of related transactions, consolidate or amalgamate with or merge into any Person or sell, lease, assign, transfer or otherwise convey all or substantially all assets of the Company and its Subsidiaries, taken as a whole, to any Person, in each case, unless:

 

(1)                                 either (A) the Company shall be the continuing Person (in the case of a merger), or (B) the successor Person (if other than the Company) formed by or resulting from such consolidation, amalgamation or merger, or to which such sale, lease, assignment, transfer or other conveyance of all or substantially all of the assets of the Company is made, (i) shall be a corporation, limited liability company, partnership or trust organized and existing under the laws of the United States of America, any state thereof or the District of Columbia or any territory thereof and (ii) shall, by an indenture (or indentures, if at such time there is more than one Trustee) supplemental hereto, executed by such successor Person and delivered to the Trustee, in form satisfactory to the Trustee, expressly assume the due and punctual performance and observance of the payment and other obligations in this Indenture and the Outstanding Securities on the part of the Company to be performed or observed;

 

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(2)                                 immediately after giving effect to such transaction, no Event of Default, and no event which, after notice or lapse of time, or both, would become an Event of Default, shall have occurred and be continuing; and

 

(3)                                 the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger, sale, lease, assignment, transfer or other conveyance and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with.

 

For purposes of the foregoing, any sale, lease, assignment, transfer or other conveyance of all or any of the assets of one or more Subsidiaries of the Company (other than to the Company or another Subsidiary), which, if such assets were owned by the Company and the Company owned all of the assets of each of its Subsidiaries, would constitute all or substantially all of the Company’s assets, shall be deemed to be the conveyance of all or substantially all of the assets of the Company to any Person.

 

Section 802.     Successor Person Substituted for Company.

 

If the Company and its Subsidiaries, taken as a whole, shall, in any transaction or series of related transactions, consolidate or amalgamate with or merge into any Person or sell, lease, assign, transfer or otherwise convey all or substantially all their assets to any Person in accordance with Section 801, the successor Person formed by or resulting from such consolidation, amalgamation or merger or to which such sale, lease, assignment, transfer or other conveyance 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 Person had been named as the Company herein; and thereafter, except in the case of a lease, the predecessor Person shall be released from all obligations and covenants under this Indenture and the Outstanding Securities and any Coupons appertaining thereto.

 

ARTICLE NINE

 

SUPPLEMENTAL INDENTURES

 

Section 901.     Supplemental Indentures without Consent of Holders.

 

Without the consent of any Holders of Securities or Coupons, the Company (when authorized by or pursuant to a Board Resolution) and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto for any of the following purposes:

 

(1)                                 to evidence the succession of another Person to the Company, and the assumption by any such successor of the covenants of the Company contained herein and in the Securities; or

 

(2)                                 to (A) add to the covenants of the Company for the benefit of all or any series of Securities (as shall be specified in such supplemental indenture or indentures) or (B) surrender any right or power herein conferred upon the Company with respect to all or any series of Securities issued under this Indenture (as shall be specified in such supplemental indenture or indentures); or

 

(3)                                 to add to or change any of the provisions of this Indenture to provide that Bearer Securities may be registrable as to principal, to change or eliminate any restrictions on the payment of principal of or any premium or interest on or any Additional Amounts with respect to any Securities, to permit Bearer Securities to be issued in exchange for Registered Securities, to permit Bearer Securities to be exchanged for Bearer Securities of other authorized denominations or to permit or facilitate the issuance of Securities in uncertificated or global form, provided any such action shall not adversely affect the interests of the Holders of Securities of any series or any Coupons appertaining thereto; or

 

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(4)                                 to establish the form or terms of Securities of any series and the form of guarantee, if any, and any Coupons appertaining thereto as permitted by Sections 201 and 301, and any deletions from or additions or changes to this Indenture in connection therewith (provided that any such deletions, additions and changes shall not be applicable to any other series of Securities then Outstanding); or

 

(5)                                 to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 609; or

 

(6)                                 to cure any mistake or ambiguity or to correct or supplement any provision herein which may be defective or which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, or to make any change necessary to comply with any requirement of the Commission in connection with this Indenture under the Trust Indenture Act, in each case which shall not adversely affect the interests of the Holders of Securities of any series then Outstanding or any Coupons appertaining thereto; or

 

(7)                                 to add any additional Events of Default with respect to all or any series of Securities (as shall be specified in such supplemental indenture or indentures); or

 

(8)                                 to supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance, covenant defeasance and/or satisfaction and discharge of any series of Securities pursuant to Article Four, provided that any such action shall not adversely affect the interests of any Holder of a Security of such series and any Coupons appertaining thereto or any other Security or Coupon; or

 

(9)                                 to secure all or any series of Securities or to add guarantees for the benefit of all or any series of Securities (as shall be specified in such supplemental indenture or indentures); or

 

(10)                          to amend or supplement any provision contained herein or in any supplemental indenture or in any Securities (which amendment or supplement may apply to one or more series of Securities or to one or more Securities within any series as specified in such supplemental indenture or indentures), provided that such amendment or supplement does not apply to any Outstanding Security issued prior to the date of such supplemental indenture and entitled to the benefits of such provision; or

 

(11)                          to conform the terms of this Indenture or the Securities of a series or any Coupons to the description thereof contained in any prospectus, prospectus supplement or other offering document relating to the offer and sale of such Securities, as evidenced by an Officer’s Certificate; or

 

(12)                          to make any change necessary to comply with the applicable rules or procedures of the Depositary or any rules or regulations of any securities exchange or automated quotation system on which any of the Securities may be listed or traded, provided that in each case such change shall not materially adversely affect the interests of any of the Holders or beneficial owners of the Securities; or

 

(13)                          to modify, alter, amend or supplement the Securities in any other respect that shall not adversely affect the interests of any of the Holders or beneficial owners of the Securities.

 

Section 902.     Supplemental Indentures with Consent of Holders.

 

With the consent of the Holders of a majority in aggregate principal amount of the Outstanding Securities of each series affected by such supplemental indenture (voting as separate classes) by Act of said Holders delivered to the Company and the Trustee, the Company (when authorized by or pursuant to a Board Resolution) and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of the Securities of such series or of

 

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modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, that no such supplemental indenture, without the consent of the Holder of each Outstanding Security affected thereby, shall

 

(1)                                 change the Stated Maturity of the principal of, or premium, if any, or any installment of interest, if any, on, or any Additional Amounts, if any, with respect to, any Security, or reduce the principal amount thereof or the premium, if any, thereon or the rate (or modify the calculation of such rate) of interest, if any, thereon, or reduce the amount payable upon redemption or repayment thereof at the option of the Company or repayment thereof at the option of the Holder, or reduce any Additional Amounts payable with respect thereto, or change the obligation of the Company to pay Additional Amounts pursuant to Section 1004 (except as contemplated by clause (1) of Section 801 and clause (2) of Section 801 and permitted by Section 901(1)), or reduce the amount of the principal of any Original Issue Discount Security that would be due and payable upon acceleration of the Maturity thereof pursuant to Section 502 or the amount thereof provable in bankruptcy pursuant to Section 504, or adversely affect the right of repayment at the option of any Holder as contemplated by Article Thirteen, or change the date(s) on which or the period(s) in which any Security is subject to redemption or repayment or otherwise alter the provisions with respect to the redemption or repayment of any Security in a manner that is adverse to the interests of a Holder thereof, or change the Place of Payment where or the Currency in which the principal of, any premium or interest on, or any Additional Amounts with respect to any Security is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof or, in the case of redemption, on or after the Redemption Date or, in the case of repayment pursuant to Article Thirteen at the option of the Holder, on or after the date for repayment, in each case as such Stated Maturity, Redemption Date or date for repayment may, if applicable, be extended in accordance with the terms of such Security or any Coupon appertaining thereto, or

 

(2)                                 reduce the percentage in aggregate principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in Section 513 or 1005 of this Indenture, or reduce the requirements of Section 1504 for quorum or voting, or

 

(3)                                 modify any of the provisions of this Section, Section 513 or Section 1005 except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby.

 

Other than as set forth above, a supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which shall have been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series.

 

Anything in this Indenture to the contrary notwithstanding, if more than one series of Securities is Outstanding, the Company shall be entitled to enter into a supplemental indenture under this Section 902 with respect to any one or more series of Outstanding Securities without entering into a supplemental indenture with respect to any other series of Outstanding Securities.

 

It shall not be necessary for any Act of Holders of Securities under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof.

 

Section 903.     Execution of Supplemental Indentures.

 

As a condition to executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trust created by this Indenture, the Trustee shall receive, and (subject to Sections 315(a) through 315(d) of the Trust Indenture Act) shall be fully protected in conclusively relying upon, an Officer’s Certificate and an Opinion of Counsel to the effect that the execution of such supplemental indenture is authorized or permitted by this Indenture and that such supplemental indenture has been

 

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duly authorized, executed and delivered by, and is a valid, legally binding and enforceable obligation of, the Company, subject to customary exceptions.  The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.

 

Section 904.     Effect of Supplemental Indentures.

 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of a Security theretofore or thereafter authenticated and delivered hereunder and of any Coupon appertaining thereto shall be bound thereby.

 

Section 905.     Reference in Securities to Supplemental Indentures.

 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation as to any matter provided for in such supplemental indenture.  If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee, upon Company Order, in exchange for Outstanding Securities of such series.

 

Section 906.     Conformity with Trust Indenture Act.

 

Unless the Company shall determine, based on an Opinion of Counsel delivered to the Trustee, that the same shall not be required, every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in effect.

 

ARTICLE TEN

 

COVENANTS

 

Section 1001.                                              Payment of Principal, Premium, Interest and Additional Amounts.

 

The Company covenants and agrees for the benefit of the Holders of the Securities of each series that it will duly and punctually pay by 12:00 pm New York City time the principal of, and any premium and interest on, and any Additional Amounts with respect to, the Securities of such series, in accordance with the terms thereof, any Coupons appertaining thereto and this Indenture.  Any interest due on any Bearer Security on or before the Maturity thereof, and any Additional Amounts payable with respect to such interest, shall be payable only upon presentation and surrender of the Coupons appertaining thereto for such interest as they severally mature.

 

Section 1002.                                              Maintenance of Office or Agency.

 

The Company shall maintain in each Place of Payment for any series of Securities an Office or Agency where Securities of such series (but not Bearer Securities, except as otherwise provided below, unless such Place of Payment is located outside the United States) may be presented or surrendered for payment, where Securities of such series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of such series relating thereto and this Indenture may be served.  If Securities of a series are issuable as Bearer Securities, the Company shall maintain, subject to any laws or regulations applicable thereto, an Office or Agency in a Place of Payment for such series which is located outside the United States where Securities of such series and any Coupons appertaining thereto may be presented and surrendered for payment; provided, however, that if the Securities of such series are listed on the London Stock Exchange or the Luxembourg Stock Exchange or any other stock exchange located outside the United States and such stock exchange shall so require, the Company shall maintain a Paying Agent in London, Luxembourg or any other required city located outside the United States, as the case may be, so long as the Securities of such series are listed on such exchange.  The Company will give prompt written notice to the Trustee of the location, and any

 

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change in the location, of such Office or Agency.  If at any time the Company shall fail to maintain any such required Office or Agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands (excluding service of process) may be made or served at the Corporate Trust Office, except that Bearer Securities of such series and any Coupons appertaining thereto may be presented and surrendered for payment at the place specified for the purpose with respect to such Securities as provided in or pursuant to this Indenture, and the Company hereby appoints the Trustee as Paying Agent, Transfer Agent and as its agent to receive all such presentations, surrenders, notices and demands (other than with respect to Bearer Securities) at the Corporate Trust Office.

 

Except as otherwise provided in or pursuant to this Indenture, no payment of principal, premium, interest or Additional Amounts with respect to Bearer Securities shall be made at any Office or Agency in the United States or by check mailed to any address in the United States or by transfer to an account maintained with a bank located in the United States; provided, however, if amounts owing with respect to any Bearer Securities shall be payable in Dollars, payment of principal of, any premium or interest on and any Additional Amounts with respect to any such Security may be made at the Corporate Trust Office or any Office or Agency designated by the Company in the City of New York, if (but only if) payment of the full amount of such principal, premium, interest or Additional Amounts at all offices outside the United States maintained for such purpose by the Company in accordance with this Indenture is illegal or effectively precluded by exchange controls or other similar restrictions.

 

The Company may also from time to time designate one or more other Offices or Agencies where the Securities of one or more series 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 each Place of Payment for Securities of any series 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.

 

Unless otherwise provided in or pursuant to this Indenture, the Company hereby designates The City of New York as a Place of Payment for each series of Securities, initially appoints the Corporate Trust Office of the Trustee in The City of New York as the Company’s Office or Agency in The City of New York for such purpose and initially appoints the Trustee as the Security Registrar for each series of Securities.  The Company may subsequently appoint a different Office or Agency in The City of New York and, as provided in Section 305, may remove and replace from time to time the Security Registrar.

 

Section 1003.                                              Money for Securities Payments to Be Held in Trust.

 

If the Company or any Affiliate of the Company shall at any time act as Paying Agent with respect to any series of Securities, it shall, on or before each due date of the principal of, or any premium or interest on, or any Additional Amounts with respect to any of the Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the Currency or Currencies in which the Securities of such series are payable sufficient to pay the principal, any premium, interest and Additional Amounts, as the case may be, so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and shall promptly notify the Trustee of its action or failure so to act.

 

Whenever there shall be one or more Paying Agents for any series of Securities other than the Company or any Affiliate of the Company, the Company shall, on or prior to each due date of the principal of, or any premium or interest on or any Additional Amounts with respect to, any Securities of such series, deposit with any Paying Agent a sum (in the Currency or Currencies described in the preceding paragraph) sufficient to pay the principal, premium, interest and Additional Amounts, as the case may be, so becoming due, such sum to be held in trust for the benefit of the Persons entitled thereto, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act.

 

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The Company shall cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent shall:

 

(1)                                 hold all sums held by it for the payment of the principal of, or any premium or interest on or any Additional Amounts with respect to, Securities of such series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as provided in or pursuant to this Indenture;

 

(2)                                 give the Trustee written notice of any default by the Company (or any other obligor upon the Securities of such series) in the making of any payment of principal of, or any premium or interest on, or any Additional Amounts with respect to, the Securities of such series; and

 

(3)                                 at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent.

 

The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such sums.

 

Except as otherwise provided herein or pursuant hereto, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, or any premium or interest on, or any Additional Amounts with respect to, any Security of any series or any Coupon appertaining thereto and remaining unclaimed for two years after such principal, premium, interest or Additional Amounts shall have become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security or any Coupon appertaining thereto shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease.

 

Section 1004.                                              Additional Amounts.

 

If any Securities of a series provide for the payment of Additional Amounts, the Company agrees to pay to the Holder of any such Securities or any Coupon appertaining thereto Additional Amounts as provided in or pursuant to this Indenture or such Securities.  Whenever in this Indenture there is mentioned, in any context, the payment of the principal of or any premium or interest on, or in respect of, any Security of any series or any Coupon, such mention shall be deemed to include mention of the payment of Additional Amounts provided by the terms of such series established hereby or pursuant hereto to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to such terms, and express mention of the payment of Additional Amounts (if applicable) in any provision hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made.

 

Except as otherwise provided in or pursuant to this Indenture or the Securities of any series, if the Securities of a series provide for the payment of Additional Amounts, at least 10 days prior to the first Interest Payment Date with respect to such series of Securities (or if the Securities of such series shall not bear interest prior to Maturity, the first day on which a payment of principal is made), and at least 10 days prior to each date of payment of principal or interest if there has been any change with respect to the matters set forth in the below-mentioned Officer’s Certificate, the Company shall furnish to the Trustee and the Paying Agent or Paying Agents, if other than the Trustee, an Officer’s Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and premium, if any, or interest, if any, on the Securities of such series shall be made to Holders of Securities of such series or the Coupons appertaining thereto without withholding or deduction for or on account of any tax, assessment or other governmental charge described in the Securities of such series or pursuant to Section 301 with respect to the Securities of such series.  If any such withholding or deduction shall be required, then such Officer’s Certificate shall specify by country the amount, if any, required to be withheld

 

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on or deducted from such payments to such Holders of Securities or Coupons, and the Company agrees to pay to the Trustee or such Paying Agent the Additional Amounts required by the terms of such Securities.  The Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against, any loss, damage, liability, cost or expense, including attorneys’ fees, costs and expenses, incurred without negligence or willful misconduct on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officer’s Certificate furnished pursuant to this Section.  Nothing in this Section 1004 or elsewhere in this Indenture shall limit the obligation of the Company to pay Additional Amounts with respect to the Securities of any series pursuant to the terms, if any, established pursuant to Section 301 with respect to the Securities of such series.  The Trustee shall not at any time be under any duty or responsibility to any Holder to determine the Additional Amounts owed, or with respect to the nature, extent, or calculation of the Additional Amounts owed, or with respect to the method employed in such calculation of the Additional Amounts.

 

Section 1005.                                              Waiver of Certain Covenants.

 

The Company may omit in any particular instance, if expressly provided pursuant to Section 301(17), any covenants applicable to the Securities of such series if, before the time for such compliance, the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, by Act of such Holders, either shall waive such compliance in such instance or generally shall have waived compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect.

 

Section 1006.                                              Company Statement as to Compliance.

 

The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, a written statement (which need not be contained in or accompanied by an Officer’s Certificate) signed by the principal executive officer, the principal financial officer or the principal accounting officer of the Company, stating whether or not, to the best of his or her knowledge, (i) there is a default in the performance and observance of any of the terms, provisions and conditions of this Indenture, the Securities and any Coupons (without regard to notice requirements or periods of grace) or (ii) there is a default which, with notice or the lapse of time or both, would become an Event of Default or an Event of Default has occurred or is continuing, and specifying all such defaults and Events of Default and the nature and status thereof of which he or she may have knowledge.

 

Section 1007.                      Calculation of Original Issue Discount.

 

So long as there is any Outstanding Original Issue Discount Security, the Company shall file with the Trustee promptly at the end of each calendar year (i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on Outstanding Securities as of the end of such year and (ii) such other specific information relating to such original issue discount as may then be relevant under the Internal Revenue Code of 1986, as amended from time to time.

 

ARTICLE ELEVEN

 

REDEMPTION OF SECURITIES

 

Section 1101.                                              Applicability of Article.

 

Redemption of Securities of any series at the option of the Company as permitted or required by the terms of such Securities shall be made in accordance with the terms of such Securities and (except as otherwise provided herein or pursuant hereto) this Article.

 

Section 1102.                                              Election to Redeem; Notice to Trustee.

 

The election of the Company to redeem any Securities shall be evidenced by or pursuant to a Board Resolution.  In case of any redemption at the election of the Company of all of the Outstanding Securities of any

 

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series, the Company shall, not less than 45 and not more than 60 days prior to the Redemption Date fixed by the Company, notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed and, in the event that the Company shall determine that the Securities of any series to be redeemed shall be selected from certain Securities, the Company shall identify such Securities by their CUSIP or other unique identifying number.

 

In the case of any redemption of Securities (A) prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture or (B) pursuant to an election of the Company which is subject to a condition specified in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate and Opinion of Counsel evidencing compliance with such restriction or condition.

 

Section 1103.                                              Selection by Trustee of Securities to be Redeemed.

 

If less than all of the Securities of any series or multiple series are to be redeemed, the particular Securities to be redeemed shall be selected not less than 30 days and not more than 60 days prior to the Redemption Date by the Trustee from the Outstanding Securities of such series, as the case may be, not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and in accordance with the Depositary’s procedures, and which may provide for the selection for redemption of portions of the principal amount of Registered Securities of such series; provided, however, that no such partial redemption shall reduce the portion of the principal amount of a Security of such series not redeemed to less than the minimum denomination for a Security of such series established herein or pursuant hereto.

 

The Trustee shall promptly notify the Company and the Security Registrar (if other than itself) in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed.

 

For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal of such Securities which has been or is to be redeemed.

 

Section 1104.                                              Notice of Redemption.

 

Notice of redemption shall be given in the manner provided in Section 106, not less than 30 nor more than 60 days prior to the Redemption Date, unless a shorter period is specified in the Securities to be redeemed, to the Holders of Securities to be redeemed.  Failure to give notice by mailing in the manner herein provided to the Holder of any Registered Securities designated for redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect the validity of the proceedings for the redemption of any other Securities or portions thereof.

 

Any notice that is mailed to the Holder of any Registered Securities in the manner herein provided shall be conclusively presumed to have been duly given, whether or not such Holder receives the notice.

 

All notices of redemption shall state:

 

(1)                                 the Redemption Date,

 

(2)                                 the Redemption Price, including the amount of accrued interest, if any, to be paid,

 

(3)                                 if less than all Outstanding Securities of any series are to be redeemed, the identification (and, in the case of partial redemption, the principal amount) of the particular Security or Securities to be redeemed,

 

(4)                                 that, in case any Security is to be redeemed in part only, on and after the Redemption Date, upon surrender of such Security, the Holder of such Security will receive, without charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining unredeemed,

 

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(5)                                 that, on the Redemption Date, the Redemption Price shall become due and payable upon each such Security or portion thereof to be redeemed, together (if applicable) with accrued and unpaid interest, if any, thereon (subject, if applicable, to the provisos to the first paragraph of Section 1106), and, if applicable, that interest thereon shall cease to accrue on and after said date,

 

(6)                                 the place or places where such Securities, together (in the case of Bearer Securities) with all Coupons appertaining thereto, if any, maturing after the Redemption Date, are to be surrendered for payment of the Redemption Price and any accrued interest and Additional Amounts pertaining thereto,

 

(7)                                 that the redemption is for a sinking fund, if such is the case,

 

(8)                                 that, unless otherwise specified in such notice, Bearer Securities of any series, if any, surrendered for redemption must be accompanied by all Coupons maturing subsequent to the date fixed for redemption or the amount of any such missing Coupon or Coupons will be deducted from the Redemption Price, unless security or indemnity satisfactory to the Company, the Trustee and any Paying Agent is furnished,

 

(9)                                 if Bearer Securities of any series are to be redeemed and any Registered Securities of such series are not to be redeemed, and if such Bearer Securities may be exchanged for Registered Securities not subject to redemption on the Redemption Date pursuant to Section 305 or otherwise, the last date, as determined by the Company, on which such exchanges may be made, and

 

(10)                       the CUSIP number, Common Code or ISIN number of such Securities, if any (or any other numbers used by a Depositary to identify such Securities).

 

A notice of redemption published as contemplated by Section 106 need not identify particular Registered Securities to be redeemed.

 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, upon Company Request with 15 days prior written notice, by the Trustee in the name and at the expense of the Company.

 

Section 1105.                                              Deposit of Redemption Price.

 

At or prior to 10:00 am (local time in New York City) on any Redemption Date, the Company shall deposit, with respect to the Securities of any series called for redemption pursuant to Section 1104, with the Trustee or with a Paying Agent (or, if the Company or any Affiliate of the Company is acting as Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money in the applicable Currency sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date, unless otherwise specified pursuant to Section 301 for or in the Securities of such series) any accrued interest on and Additional Amounts with respect to, all such Securities or portions thereof which are to be redeemed on that date.

 

Section 1106.                                              Securities Payable on Redemption Date.

 

Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified, together with (unless otherwise provided with respect to the Securities of such series pursuant to Section 301) accrued and unpaid interest, if any, thereon and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest, if any) such Securities shall cease to bear interest and the Coupons for such interest appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall be void.  Upon surrender of any such Security for redemption in accordance with said notice, together with all Coupons, if any, appertaining thereto maturing after the Redemption Date, such Security shall be paid by the Company at the Redemption Price, together with, unless otherwise provided in or pursuant to this Indenture, any accrued and unpaid interest thereon and Additional Amounts with respect thereto to but excluding the Redemption Date; provided, however, that, except as otherwise provided in or pursuant to this Indenture or the Bearer Securities of such series,

 

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installments of interest on Bearer Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable only upon presentation and surrender of Coupons for such interest (at an Office or Agency located outside the United States except as otherwise provided in Section 1002), and provided, further, that, except as otherwise specified in or pursuant to this Indenture or the Registered Securities of such series, installments of interest on Registered Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the Regular Record Dates for such Stated Maturity according to their terms and the provisions of Section 307.

 

If any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant Coupons maturing after the Redemption Date, such Security may be paid after deducting from the Redemption Price or, at the option of the Company, after payment to the Trustee for the benefit of the Company of, an amount equal to the face amount of all such missing Coupons, or the surrender of such missing Coupon or Coupons may be waived by the Company and the Trustee if there be furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless.  If thereafter the Holder of such Security shall surrender to the Trustee or any Paying Agent any such missing Coupon in respect of which a deduction shall have been made from the Redemption Price, such Holder shall be entitled to receive the amount so deducted; provided, however, that any interest or Additional Amounts represented by Coupons shall be payable only upon presentation and surrender of those Coupons at an Office or Agency for such Security located outside of the United States except as otherwise provided in Section 1002.

 

If any Security called for redemption shall not be so paid, or funds set aside for payment, on the Redemption Date, the principal and any premium, until paid, shall bear interest from the Redemption Date at the rate prescribed therefor in the Security or, if no rate is prescribed therefor in the Security, at the rate of interest, if any, borne by such Security.

 

Section 1107.                                              Securities Redeemed in Part.

 

Any Registered Security which is to be redeemed only in part shall be surrendered at any Office or Agency for such Security (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver, upon Company Order, to the Holder of such Security without service charge, a new Registered Security or Securities of the same series, containing identical terms and provisions, of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered.  If a Security in global form is so surrendered, the Company shall execute, and the Trustee shall authenticate and deliver, upon Company Order, to the Depositary for such Security in global form as shall be specified in the Company Order with respect thereto to the Trustee, without service charge, a new Security in global form in a denomination equal to and in exchange for the unredeemed portion of the principal of the Security in global form so surrendered.

 

ARTICLE TWELVE

 

SINKING FUNDS

 

Section 1201.                                              Applicability of Article.

 

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

 

The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of such series is herein referred to as an “optional sinking fund payment.”  If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202.  Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series and this Indenture.

 

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Section 1202.                                              Satisfaction of Sinking Fund Payments with Securities.

 

The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any series to be made pursuant to the terms of such Securities (1) deliver Outstanding Securities of such series (other than any of such Securities previously called for redemption or any of such Securities in respect of which cash shall have been released to the Company), together in the case of any Bearer Securities of such series with all unmatured Coupons appertaining thereto, and (2) apply as a credit Securities of such series which have been redeemed either at the election of the Company pursuant to the terms of such series of Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, provided that such Securities have not been previously so credited.  Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.  If as a result of the delivery or credit of Securities of any series in lieu of cash payments pursuant to this Section 1202, the principal amount of Securities of such series to be redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such series for redemption, except upon Company Request, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent shall at the written request of the Company from time to time pay over and deliver to the Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Company to the Trustee of Securities of that series purchased by the Company having an unpaid principal amount equal to the cash payment requested to be released to the Company.

 

Section 1203.                                              Redemption of Securities for Sinking Fund.

 

Not less than 75 days prior to each sinking fund payment date for any series of Securities, the Company shall deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that series pursuant to Section 1202, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and will also deliver to the Trustee any Securities to be so credited and not theretofore delivered.  If such Officer’s Certificate shall specify an optional amount to be added in cash to the next ensuing mandatory sinking fund payment, the Company shall thereupon be obligated to pay the amount therein specified.  Not less than 60 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 1104.  Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107.

 

ARTICLE THIRTEEN

 

REPAYMENT AT THE OPTION OF HOLDERS

 

Section 1301.                                              Applicability of Article.

 

Securities of any series which are repayable at the option of the Holders thereof before their Stated Maturity shall be repaid in accordance with the terms of the Securities of such series.  The repayment of any principal amount of Securities pursuant to such option of the Holder to require repayment of Securities before their Stated Maturity, for purposes of Section 309, shall not operate as a payment, redemption or satisfaction of the indebtedness represented by such Securities unless and until the Company, at its option, shall deliver or surrender the same to the Trustee with written instruction from such Holder that such Securities be cancelled.  If specified with respect to the Securities of a series as contemplated by Section 301, in connection with any repayment of Securities, the Company may arrange for the purchase of any Securities by an agreement with one or more investment bankers or other purchasers to purchase such Securities by paying to the Holders of such Securities on or before the applicable repayment date an amount not less than the repayment price payable by the Company on repayment of such Securities, and the obligation of the Company to pay the repayment price of such Securities shall be satisfied and discharged to the extent such payment is so paid by such purchasers.

 

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Unless otherwise expressly stated in this Indenture or pursuant to Section 301 with respect to the Securities of any series or unless the context otherwise requires, all references in this Indenture to the repayment of Securities at the option of the Holders thereof (and all references of like import) shall be deemed to include a reference to the repayment of Securities at the option of the Holders thereof.

 

ARTICLE FOURTEEN

 

SECURITIES IN FOREIGN CURRENCIES

 

Section 1401.                                              Applicability of Article.

 

Whenever this Indenture provides for (i) any action by, or the determination of any of the rights of, Holders of Securities of any series in which not all of such Securities are denominated in the same Currency or (ii) any distribution to Holders of Securities of any series in which not all of such Securities are denominated in the same Currency, in the absence of any provision to the contrary in or pursuant to this Indenture or the Securities of such series and in accordance with the Depositary’s procedures, any amount in respect of any Security denominated in a Currency other than Dollars shall be treated for any such action, determination or distribution as that amount of Dollars that could be obtained by converting any such other Currency and as of the record date with respect to Registered Securities of such series (if any) for such action, determination or distribution (or, if there shall be no applicable record date, such other date reasonably proximate to the date of such distribution) as the Company may specify in a written notice to the Trustee.  Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officer’s Certificate delivered pursuant to Section 301 of this Indenture with respect to a particular series of Securities, such conversion shall be at the spot rate for the purchase of the designated Currency as published in The Financial Times in the “Currency Rates” section (or, if The Financial Times is no longer published, or such information is no longer available in The Financial Times, such source as may be selected in good faith by the Company) on any date of determination.

 

Section 1402.                                              Monies of Different Currencies to be Segregated.

 

The Trustee shall segregate monies, funds and accounts held by the Trustee hereunder in one currency from any monies, funds or accounts in any other currencies, notwithstanding any provisions herein which would otherwise permit the Trustee to commingle such accounts.

 

ARTICLE FIFTEEN

 

MEETINGS OF HOLDERS OF SECURITIES

 

Section 1501.                                              Purposes for Which Meetings May Be Called.

 

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

 

Section 1502.                                              Call, Notice and Place of Meetings.

 

(1)                                 The Trustee may at any time call a meeting of Holders of Securities of any series for any purpose specified in Section 1501, to be held at such time and at such place in The City of New York, or, if Securities of such series have been issued in whole or in part as Bearer Securities, in London or in such place outside the United States as the Trustee may determine upon consultation with the Company or relevant Holders.  Notice of every meeting of Holders of Securities of any series, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting, shall be given, in the manner provided in Section 106, not less than 21 nor more than 180 days prior to the date fixed for the meeting.

 

(2)                                 In case at any time the Company (by or pursuant to a Board Resolution) or the Holders of at least 10% in aggregate principal amount of the Outstanding Securities of any series shall have requested the Trustee to

 

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call a meeting of the Holders of Securities of such series for any purpose specified in Section 1501, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have mailed notice of or made the first publication of the notice of such meeting within 21 days after receipt of such request (whichever shall be required pursuant to Section 106) or shall not thereafter proceed to cause the meeting to be held as provided herein, then the Company or the Holders of Securities of such series in the amount above specified, as the case may be, may determine the time and the place in The City of New York, or, if Securities of such series are to be issued as Bearer Securities, in London for such meeting and may call such meeting for such purposes by giving notice thereof as provided in clause (1) of this Section.

 

Section 1503.                                              Persons Entitled to Vote at Meetings.

 

To be entitled to vote at any meeting of Holders of Securities of any series, a Person shall be (1) a Holder of one or more Outstanding Securities of such series, or (2) a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Securities of such series by such Holder or Holders.  The only Persons who shall be entitled to be present or to speak at any meeting of Holders of Securities of any series shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives of the Company and its counsel.

 

Section 1504.                                              Quorum; Action.

 

The Persons entitled to vote a majority in aggregate principal amount of the Outstanding Securities of a series shall constitute a quorum for a meeting or duly reconvened meeting of Holders of Securities of such series; provided, however, that if any action is to be taken at such meeting with respect to a consent or waiver which this Indenture expressly provides may be given by the Holders of a supermajority in aggregate principal amount of the Outstanding Securities of a series, the Persons entitled to vote the specified supermajority in aggregate principal amount of the Outstanding Securities of such series shall constitute a quorum.  In the absence of a quorum within 30 minutes after the time appointed for any such meeting, the meeting shall, if convened at the request of Holders of Securities of such series, be dissolved.  In any other case the meeting may be adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such meeting.  In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting.  Notice of the reconvening of any adjourned meeting shall be given as provided in Section 1502(1), except that such notice need be given only once not less than five days prior to the date on which the meeting is scheduled to be reconvened.  Notice of the reconvening of an adjourned meeting shall state expressly the percentage, as provided above, of the aggregate principal amount of the Outstanding Securities of such series which shall constitute a quorum.

 

Except as limited by the proviso to Section 902, any resolution presented to a meeting or adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted only by the affirmative vote of the Holders of a majority in aggregate principal amount of the Outstanding Securities of that series; provided, however, that, except as limited by the proviso to Section 902, any resolution with respect to any request, demand, authorization, direction, notice, consent, waiver or other Act which this Indenture expressly provides may be made, given or taken by the Holders of a supermajority in aggregate principal amount of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly convened and at which a quorum is present as aforesaid only by the affirmative vote of the Holders of the specified supermajority in aggregate principal amount of the Outstanding Securities of that series; and provided, further, that, except as limited by the proviso to Section 902, any resolution with respect to any request, demand, authorization, direction, notice, consent, waiver or other Act which this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage, which is less than a majority, in aggregate principal amount of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote of the Holders of such lesser specified percentage in aggregate principal amount of the Outstanding Securities of such series.

 

Any resolution passed or decision taken at any meeting of Holders of Securities of any series duly held in accordance with this Section shall be binding on all the Holders of Securities of such series and the Coupons appertaining thereto, whether or not such Holders were present or represented at the meeting.

 

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Section 1505.                                              Determination of Voting Rights; Conduct and Adjournment of Meetings.

 

(1)                                 Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders of Securities of such series in regard to proof of the holding of Securities of such series and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate.  Except as otherwise permitted or required by any such regulations, the holding of Securities shall be proved in the manner specified in Section 104 and the appointment of any proxy shall be proved in the manner specified in Section 104 or by having the signature of the person executing the proxy witnessed or guaranteed by any trust company, bank or banker authorized by Section 104 to certify to the holding of Bearer Securities.  Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in Section 104 or other proof.

 

(2)                                 The Trustee may, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders of Securities as provided in Section 1502(2), in which case the Company or the Holders of Securities of the series calling the meeting, as the case may be, shall in like manner appoint a temporary chairman.  A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in aggregate principal amount of the Outstanding Securities of such series represented at the meeting.

 

(3)                                 At any meeting, each Holder of a Security of such series or proxy shall be entitled to one vote for each $1,000 principal amount of Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding.  If the Securities of such series are issuable in minimum denominations of less than $1,000, then a Holder of such a Security in a principal amount of less than $1,000 shall be entitled to a fraction of one vote which is equal to the fraction that the principal amount of such Security bears to $1,000.  The chairman of the meeting shall have no right to vote, except as a Holder of a Security of such series or proxy.

 

(4)                                 Any meeting of Holders of Securities of any series duly called pursuant to Section 1502 at which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority in aggregate principal amount of the Outstanding Securities of such series represented at the meeting; and the meeting may be held as so adjourned without further notice.

 

Section 1506.                                              Counting Votes and Recording Action of Meetings.

 

The vote upon any resolution submitted to any meeting of Holders of Securities of any series shall be by written ballots on which shall be subscribed the signatures of the Holders of Securities of such series or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Securities of such series held or represented by them.  The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in triplicate of all votes cast at the meeting.  A record, at least in triplicate, of the proceedings of each meeting of Holders of Securities of any series shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was given as provided in Section 1502 and, if applicable, Section 1504.  Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company, and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting.  Any record so signed and verified shall be conclusive evidence of the matters therein stated.

 

[Remainder of Page Intentionally Left Blank]

 

60

 

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

 

 

	
 
    	
MONOGRAM RESIDENTIAL   TRUST, INC., as Issuer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
[·]
    
	
 
    	
 
    	
Title:
    	
[·]
    

 

 

	
 
    	
[NAME OF TRUSTEE],
    
	
 
    	
as Trustee, Registrar, Paying   Agent and Transfer Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
[·]
    
	
 
    	
 
    	
Title:
    	
[·]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]