Document:

Exhibit 4.2

 

John Deere Funding S.A.

Issuer,

 

Deere & Company,

Guarantor,

 

and

 

The Bank of New York Mellon

Trustee

 

 

Indenture

 

Dated as of September 25,
2008

 

 

Providing for the
Issuance

 

of

 

Senior Guaranteed Debt
Securities

 

 

JOHN
DEERE FUNDING S.A.

Reconciliation and
tie between Trust Indenture Act of 1939

and Indenture,
dated as of September 25, 2008

 

	
  Trust Indenture

  	
   

  	
  Indenture

  	
   

  
	
  Act Section

  	
   

  	
  Section

  	
   

  
	
  § 310

  	
  (a)(1)

  	
   

  	
  608

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
  608

  	
   

  
	
   

  	
  (b)

  	
   

  	
  608, 609

  	
   

  
	
  § 312

  	
  (c)

  	
   

  	
  701

  	
   

  
	
  § 314

  	
  (a)

  	
   

  	
  703

  	
   

  
	
   

  	
  (a)(4)

  	
   

  	
  1005

  	
   

  
	
   

  	
  (c)(1)

  	
   

  	
  102

  	
   

  
	
   

  	
  (c)(2)

  	
   

  	
  102

  	
   

  
	
   

  	
  (e)

  	
   

  	
  102

  	
   

  
	
  § 315

  	
  (b)

  	
   

  	
  602

  	
   

  
	
  § 316

  	
  (a) (last
  sentence)

  	
   

  	
  101 (“Outstanding”)

  	
   

  
	
   

  	
  (a)(1)(A)

  	
   

  	
  502, 512

  	
   

  
	
   

  	
  (a)(1)(B)

  	
   

  	
  513

  	
   

  
	
   

  	
  (b)

  	
   

  	
  508

  	
   

  
	
  § 317

  	
  (a)(1)

  	
   

  	
  503

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
  504

  	
   

  
	
  § 318

  	
  (a)

  	
   

  	
  111

  	
   

  
	
   

  	
  (c)

  	
   

  	
  111

  	
   

  

 

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

 

 

TABLE OF
CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  ARTICLE I
  DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 101

  	
  Definitions

  	
   

  	
  2

  
	
  Section 102

  	
  Compliance
  Certificates and Opinions

  	
   

  	
  10

  
	
  Section 103

  	
  Form of
  Documents Delivered to Trustee

  	
   

  	
  11

  
	
  Section 104

  	
  Acts of
  Holders

  	
   

  	
  11

  
	
  Section 105

  	
  Notices,
  etc., to Trustee, the Company and the Guarantor

  	
   

  	
  13

  
	
  Section 106

  	
  Notice to
  Holders; Waiver

  	
   

  	
  13

  
	
  Section 107

  	
  Effect of
  Headings and Table of Contents

  	
   

  	
  14

  
	
  Section 108

  	
  Successors
  and Assigns

  	
   

  	
  14

  
	
  Section 109

  	
  Separability
  Clause

  	
   

  	
  14

  
	
  Section 110

  	
  Benefits of
  Indenture

  	
   

  	
  14

  
	
  Section 111

  	
  Governing
  Law

  	
   

  	
  15

  
	
  Section 112

  	
  Legal
  Holidays

  	
   

  	
  15

  
	
  Section 113

  	
  Submission
  to Jurisdiction; Appointment of Agent for Service of Process

  	
   

  	
  15

  
	
  Section 114

  	
  Judgment
  Currency

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE II
  SECURITIES FORMS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 201

  	
  Forms of
  Securities

  	
   

  	
  16

  
	
  Section 202

  	
  Form of
  Trustee’s Certificate of Authentication

  	
   

  	
  17

  
	
  Section 203

  	
  Securities
  Issuable in Global Form

  	
   

  	
  17

  
	
  Section 204

  	
  Form of
  Guarantee

  	
   

  	
  18

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE III
  THE SECURITIES

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 301

  	
  Amount
  Unlimited; Issuable in Series

  	
   

  	
  21

  
	
  Section 302

  	
  Denominations

  	
   

  	
  24

  
	
  Section 303

  	
  Execution,
  Authentication, Delivery and Dating

  	
   

  	
  24

  
	
  Section 304

  	
  Temporary
  Securities

  	
   

  	
  27

  
	
  Section 305

  	
  Registration,
  Registration of Transfer and Exchange

  	
   

  	
  29

  
	
  Section 306

  	
  Mutilated,
  Destroyed, Lost and Stolen Securities

  	
   

  	
  32

  
	
  Section 307

  	
  Payment of
  Interest; Interest Rights Preserved; Optional Interest Reset

  	
   

  	
  34

  
	
  Section 308

  	
  Optional
  Extension of Maturity

  	
   

  	
  37

  
	
  Section 309

  	
  Persons
  Deemed Owners

  	
   

  	
  37

  
	
  Section 310

  	
  Cancellation

  	
   

  	
  38

  
	
  Section 311

  	
  Computation
  of Interest

  	
   

  	
  39

  
	
  Section 312

  	
  Currency and
  Manner of Payments in Respect of Securities

  	
   

  	
  39

  
	
  Section 313

  	
  Appointment
  and Resignation of Successor Exchange Rate Agent

  	
   

  	
  42

  
	
  Section 314

  	
  CUSIP
  Numbers

  	
   

  	
  43

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IV
  SATISFACTION AND DISCHARGE

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 401

  	
  Satisfaction
  and Discharge of Indenture

  	
   

  	
  43

  

 

i

 

	
  Section 402

  	
  Application
  of Trust Funds

  	
   

  	
  44

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE V
  REMEDIES

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 501

  	
  Events of
  Default

  	
   

  	
  44

  
	
  Section 502

  	
  Acceleration
  of Maturity; Rescission and Annulment

  	
   

  	
  46

  
	
  Section 503

  	
  Collection
  of Indebtedness and Suits for Enforcement by Trustee

  	
   

  	
  47

  
	
  Section 504

  	
  Trustee
  May File Proofs of Claim

  	
   

  	
  48

  
	
  Section 505

  	
  Trustee
  May Enforce Claims Without Possession of Securities or Coupons

  	
   

  	
  48

  
	
  Section 506

  	
  Application
  of Money Collected

  	
   

  	
  49

  
	
  Section 507

  	
  Limitation on Suits

  	
   

  	
  49

  
	
  Section 508

  	
  Unconditional
  Right of Holders to Receive Principal, Premium and Interest

  	
   

  	
  50

  
	
  Section 509

  	
  Restoration
  of Rights and Remedies

  	
   

  	
  50

  
	
  Section 510

  	
  Rights and
  Remedies Cumulative

  	
   

  	
  50

  
	
  Section 511

  	
  Delay or
  Omission Not Waiver

  	
   

  	
  50

  
	
  Section 512

  	
  Control by
  Holders of Securities

  	
   

  	
  50

  
	
  Section 513

  	
  Waiver of
  Past Defaults

  	
   

  	
  51

  
	
  Section 514

  	
  Waiver of
  Stay or Extension Laws

  	
   

  	
  51

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VI
  THE TRUSTEE

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 601

  	
  Certain
  Duties and Responsibilities

  	
   

  	
  51

  
	
  Section 602

  	
  Notice of
  Defaults.

  	
   

  	
  52

  
	
  Section 603

  	
  Certain
  Rights of Trustee

  	
   

  	
  53

  
	
  Section 604

  	
  Not
  Responsible for Recitals or Issuance of Securities

  	
   

  	
  54

  
	
  Section 605

  	
  May Hold
  Securities

  	
   

  	
  54

  
	
  Section 606

  	
  Money Held
  in Trust

  	
   

  	
  54

  
	
  Section 607

  	
  Compensation
  and Reimbursement

  	
   

  	
  55

  
	
  Section 608

  	
  Corporate
  Trustee Required; Eligibility

  	
   

  	
  55

  
	
  Section 609

  	
  Resignation
  and Removal; Appointment of Successor

  	
   

  	
  56

  
	
  Section 610

  	
  Acceptance
  of Appointment by Successor

  	
   

  	
  57

  
	
  Section 611

  	
  Merger,
  Conversion, Consolidation or Succession to Business

  	
   

  	
  58

  
	
  Section 612

  	
  Appointment
  of Authenticating Agent

  	
   

  	
  58

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VII
  HOLDERS’ LISTS AND REPORTS BY TRUSTEE, GUARANTOR AND COMPANY

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 701

  	
  Disclosure
  of Names and Addresses of Holders

  	
   

  	
  60

  
	
  Section 702

  	
  Reports by
  Trustee

  	
   

  	
  60

  
	
  Section 703

  	
  Reports by
  Company and Guarantor

  	
   

  	
  61

  
	
  Section 704

  	
  Calculation
  of Original Issue Discount

  	
   

  	
  61

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VIII
  CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 801

  	
  Company or
  Guarantor May Consolidate, etc., Only on Certain Terms

  	
   

  	
  61

  
	
  Section 802

  	
  Successor
  Person Substituted

  	
   

  	
  62

  
	
  Section 803

  	
  Assumption
  by Guarantor

  	
   

  	
  63

  

 

ii

 

	
  ARTICLE IX
  SUPPLEMENTAL INDENTURES

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 901

  	
  Supplemental
  Indentures Without Consent of Holders

  	
   

  	
  63

  
	
  Section 902

  	
  Supplemental
  Indentures with Consent of Holders

  	
   

  	
  65

  
	
  Section 903

  	
  Execution of
  Supplemental Indentures

  	
   

  	
  66

  
	
  Section 904

  	
  Effect of
  Supplemental Indentures

  	
   

  	
  66

  
	
  Section 905

  	
  Conformity
  with Trust Indenture Act

  	
   

  	
  66

  
	
  Section 906

  	
  Reference in
  Securities to Supplemental Indentures

  	
   

  	
  67

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE X
  COVENANTS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 1001

  	
  Payment of
  Principal, Premium and Interest

  	
   

  	
  67

  
	
  Section 1002

  	
  Maintenance
  of Office or Agency

  	
   

  	
  67

  
	
  Section 1003

  	
  Money for
  Securities Payments to Be Held in Trust

  	
   

  	
  69

  
	
  Section 1004

  	
  Additional
  Amounts

  	
   

  	
  70

  
	
  Section 1005

  	
  Statement as
  to Compliance

  	
   

  	
  72

  
	
  Section 1006

  	
  Limitation on Liens

  	
   

  	
  72

  
	
  Section 1007

  	
  Limitation
  on Sale and Lease-back Transactions

  	
   

  	
  77

  
	
  Section 1008

  	
  Waiver of
  Certain Covenants

  	
   

  	
  77

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XI
  REDEMPTION OF SECURITIES

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 1101

  	
  Applicability
  of Article

  	
   

  	
  77

  
	
  Section 1102

  	
  Election to Redeem;
  Notice to Trustee

  	
   

  	
  78

  
	
  Section 1103

  	
  Selection by
  Trustee of Securities to Be Redeemed

  	
   

  	
  78

  
	
  Section 1104

  	
  Notice of
  Redemption

  	
   

  	
  78

  
	
  Section 1105

  	
  Deposit of
  Redemption Price

  	
   

  	
  79

  
	
  Section 1106

  	
  Securities
  Payable on Redemption Date

  	
   

  	
  80

  
	
  Section 1107

  	
  Securities
  Redeemed in Part

  	
   

  	
  80

  
	
  Section 1108

  	
  Optional
  Redemption Due to Changes in Tax Treatment

  	
   

  	
  81

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XII
  SINKING FUNDS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 1201

  	
  Applicability
  of Article

  	
   

  	
  82

  
	
  Section 1202

  	
  Satisfaction
  of Sinking Fund Payments with Securities

  	
   

  	
  82

  
	
  Section 1203

  	
  Redemption
  of Securities for Sinking Fund

  	
   

  	
  82

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XIII
  REPAYMENT AT THE OPTION OF HOLDERS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 1301

  	
  Applicability
  of Article

  	
   

  	
  83

  
	
  Section 1302

  	
  Repayment of
  Securities

  	
   

  	
  83

  
	
  Section 1303

  	
  Exercise of
  Option

  	
   

  	
  83

  
	
  Section 1304

  	
  When
  Securities Presented for Repayment Become Due and Payable

  	
   

  	
  84

  
	
  Section 1305

  	
  Securities
  Repaid in Part

  	
   

  	
  85

  

 

iii

 

	
  ARTICLE XIV
  DEFEASANCE AND COVENANT DEFEASANCE

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 1401

  	
  Applicability
  of Article; Company’s and Guarantor’s Option to Effect Defeasance or Covenant
  Defeasance

  	
   

  	
  85

  
	
  Section 1402

  	
  Defeasance
  and Discharge

  	
   

  	
  85

  
	
  Section 1403

  	
  Covenant
  Defeasance

  	
   

  	
  86

  
	
  Section 1404

  	
  Conditions
  to Defeasance or Covenant Defeasance

  	
   

  	
  86

  
	
  Section 1405

  	
  Deposited
  Money and Government Obligations to Be Held in Trust; Other Miscellaneous
  Provisions

  	
   

  	
  88

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XV
  MEETINGS OF HOLDERS OF SECURITIES

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 1501

  	
  Purposes for
  Which Meetings May Be Called

  	
   

  	
  89

  
	
  Section 1502

  	
  Call, Notice
  and Place of Meetings

  	
   

  	
  89

  
	
  Section 1503

  	
  Persons
  Entitled to Vote at Meetings

  	
   

  	
  90

  
	
  Section 1504

  	
  Quorum;
  Action

  	
   

  	
  90

  
	
  Section 1505

  	
  Determination
  of Voting Rights; Conduct and Adjournment of Meetings

  	
   

  	
  91

  
	
  Section 1506

  	
  Counting
  Votes and Recording Action of Meetings

  	
   

  	
  92

  
	
  Section 1507

  	
  Action
  Without Meeting

  	
   

  	
  92

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XVI
  GUARANTEE OF SECURITIES

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Section 1601

  	
  Guarantee

  	
   

  	
  93

  
	
  Section 1602

  	
  Execution of
  Guarantee

  	
   

  	
  94

  
	
   

  	
   

  	
   

  	
   

  
	
  Exhibit A

  	
  Forms
  of Certification

  	
   

  	
   

  

 

iv

 

INDENTURE, dated as of September 25,
2008, between JOHN DEERE FUNDING S.A., a public limited liability company duly
organized and existing under the laws of Luxembourg (hereinafter called the “Company”),
having its principal office at 5, rue Eugène Ruppert, B.P. 1685, L-1016,
Luxembourg, and registered with the Luxembourg trade register under number
B-101958, DEERE & COMPANY, a Delaware corporation (hereinafter called
the “Guarantor”), having its principal office at One John Deere Place, Moline,
Illinois 61265 and THE BANK OF NEW YORK MELLON, a New York banking corporation,
Trustee (hereinafter called the “Trustee”), having its Corporate Trust Office
at 101 Barclay Street, 8W, New York, NY 10286.

 

RECITALS OF
THE COMPANY

 

The
Company deems it necessary to issue from time to time for its lawful purposes
senior guaranteed debt securities (hereinafter called the “Securities”)
evidencing its unsecured and unsubordinated indebtedness, as the case may be,
and has duly authorized the execution and delivery of this Indenture to provide
for the issuance from time to time of the Securities, unlimited as to principal
amount, to bear such rates of interest, to mature at such times and to have
such other provisions as shall be fixed as hereinafter provided.

 

This
Indenture is subject to the provisions of the Trust Indenture Act of 1939, as
amended (the “Trust Indenture Act” or “TIA”), that are required to be part of
this Indenture and shall, to the extent applicable, be governed by such
provisions.

 

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

 

RECITALS OF
THE GUARANTOR

 

For
value received, the Guarantor has duly authorized the execution and delivery of
this Indenture to provide for the Guarantee of the Securities provided for
herein.

 

All
things necessary to make this Indenture a valid agreement of the Guarantor, 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 thereof, it is mutually covenanted and agreed, for the equal and
proportionate benefit of all Holders of the Securities and coupons, as follows:

 

 

ARTICLE I

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

Section 101                               Definitions.  For all
purposes of this Indenture, except as otherwise expressly provided or unless
the context otherwise requires:

 

(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 other terms used
herein which are defined in the TIA, either directly or by reference therein,
have the meanings assigned to them therein, and the terms “cash transaction”
and “self-liquidating paper”, as used in TIA Section 311, shall have the
meanings assigned to them in the rules of the Commission adopted under the
Trust Indenture Act;

 

(3)          all accounting terms not
otherwise defined herein have the meanings assigned to them in accordance with U.S.
generally accepted accounting principles;

 

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

 

(5)          references to Sections
and Articles are references to sections and articles in this Indenture.

 

Certain
terms, used principally in Article II, Article III, Article V, Article X,
Article XII and Article XIV are defined in those Articles.

 

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

 

“Additional
Amounts” has the meaning specified in Section 1004.

 

“Affiliate”
of any specified Person means 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 authenticating agent appointed by the Trustee pursuant to Section 612.

 

“Authorized
Newspaper” means a newspaper, in the English language or in an official
language of the country of publication, customarily published on each Business
Day, whether or not published on Saturdays, Sundays or holidays, 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 

 

2

 

publications
may be made in the same or in different newspapers in the same city meeting the
foregoing requirements and in each case on any Business Day.

 

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

 

“Board
of Directors” means either the board of directors of the Company or the
board of directors or the executive committee of the Guarantor, as the case may
be, or any committee of either board duly authorized to act hereunder.

 

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

 

“Business
Day”, when used with respect to any Place of Payment or any other
particular location referred to in this Indenture or in the Securities, means,
unless otherwise specified with respect to any Securities pursuant to Section 301,
each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on
which banking institutions in that Place of Payment or particular location are
authorized or obligated by law or executive order to close.  In addition, if on that day a payment is to
be made in (or a rate is to be ascertained for) Euros, it means a day in which
the Trans-European Automated Real-Time Gross Settlement Express Transfer System
(“TARGET”) also is open for settlement of payments in Euro.

 

“Clearstream”
means Clearstream Banking, société anonyme (formerly Cedelbank), or its
successor.

 

“Commission”
means the Securities and Exchange Commission, as from time to time constituted,
created under the Securities Exchange Act of 1934, or, if at any time after
execution of this instrument such Commission is not existing and performing the
duties now assigned to it under the Trust Indenture Act, then the body
performing such duties on such date.

 

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

 

“Company
Request” and “Company Order” mean, respectively, a written request
or order signed in the name of the Company by two directors of the Company and
attested to by the Secretary or Assistant Secretary of the Guarantor, and
delivered to the Trustee.

 

“Conversion
Date” has the meaning specified in Section 312(d).

 

“Conversion
Event” means the cessation of use of a Foreign Currency both by the
government of one or more countries or by any recognized union, association or
confederation of governments that issued such Foreign Currency and by a central
bank or other public institution of or within the international banking
community for the settlement of transactions in such Foreign Currency.

 

3

 

“Corporate
Trust Office” means the office of the Trustee at which, at any particular
time, its corporate trust business shall be principally administered, which
office at the date hereof is located at 101 Barclay
Street, 8W, New York, NY 10286.  Attention:  Corporate Trust
Division - Corporate Finance Unit, or such other address as the Trustee may
designate from time to time by notice to the Company, or the principal
corporate trust office of any successor Trustee (or such other address as such
successor Trustee may designate from time to time by notice to the Company).

 

“corporation”
includes corporations, limited liability companies, associations, companies and
business or statutory trusts.

 

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

 

“Currency”
means any currency or currencies, composite currency or currency unit or
currency units, including, without limitation, the Euro, issued by the
government of one or more countries or by any recognized union, association or
confederation of such governments.

 

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

 

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

 

“Dollar”
or “$” means a dollar or other equivalent unit in such coin or currency
of the United States of America as at the time shall be legal tender for the
payment of public and private debts.

 

“Election
Date” has the meaning specified in Section 312(h).

 

“Euros”
and “€” means the single currency of participating member nations of the
European Union.

 

“Euroclear”
means Euroclear Bank S.A./N.V. as operator of Euroclear System, and any
successor thereto.

 

“European
Union” means the union of sovereign states party to the Treaty on European
Union, which was signed in Maastricht, the Netherlands on February 7, 1992, and
predecessor and successor treaties, as may be modified from time to time.

 

“Event
of Default” has the meaning specified in Article V.

 

“Exchange
Rate Agent”, with respect to Securities of or within any series, means,
unless otherwise specified with respect to any Securities pursuant to Section 301,
a New York Clearing House bank designated pursuant to Section 301 or Section 313.

 

“Exchange
Rate Officer’s Certificate” means a certificate setting forth (i) the
applicable Market Exchange Rate or the applicable bid quotation and (ii) the
Dollar or Foreign Currency amounts of principal (and premium, if any) and
interest, if any (on an aggregate basis and on the basis of a Security having
the lowest denomination principal amount determined in accordance 

 

4

 

with Section 302
in the relevant currency or currency unit), payable with respect to a Security
of any series on the basis of such Market Exchange Rate or the applicable bid
quotation signed by two directors of the Company or the Treasurer, any Vice
President or any Assistant Treasurer of the Guarantor, as applicable.

 

“Foreign
Currency” means any Currency, including, without limitation, the Euro,
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
governments.

 

“Government
Obligations” means securities which are (i) direct obligations of the
United States of America or the government which issued the Foreign Currency in
which the Securities of a particular series are payable, for the payment of
which its full faith and credit is pledged or (ii) obligations of a Person
controlled or supervised by and acting as an agency or instrumentality of the
United States of America or such government which issued the Foreign Currency
in which the Securities of such series are payable, the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United
States of America or such other government, which, in either case, are not
callable or redeemable at the option of the issuer thereof, and shall also
include a depository 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 any such Government Obligation held by such
custodian for the account of the holder of a depository 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 depository receipt from
any amount received by the custodian in respect of the Government Obligation or
the specific payment of interest on or principal of the Government Obligation
evidenced by such depository receipt.

 

“Guarantee”
means the unconditional guarantee by the Guarantor of any Security of any
series authenticated and delivered pursuant to this Indenture either (i) if
specified, as contemplated by Section 301, to be applicable to Securities
of such series and not endorsed on such Securities pursuant to Article XVI
hereof, or (ii) in all other cases, endorsed on such Security.

 

“Guarantor”
means the Person named as the “Guarantor” 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 “Guarantor” shall mean
such successor Person.

 

“Guarantor
Request” and “Guarantor Order” mean, respectively, a written request
or order signed in the name of the Guarantor by the Chairman, the President or
a Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary
or an Assistant Secretary, of the Guarantor, and delivered to the Trustee.

 

“Holder”
means, in the case of a Registered Security, the Person in whose name a
Security is registered in the Security Register and, in the case of a Bearer
Security, the bearer thereof and, when used with respect to any coupon, shall
mean the bearer thereof.

 

“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 shall include the terms
of particular series of 

 

5

 

Securities
established as contemplated by Section 301; 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 the or those particular series
of Securities for which such Person is Trustee established as contemplated by 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, and exclusive of any provisions or terms
adopted by means of one or more indentures supplemental hereto executed and
delivered after such Person had become such Trustee but to which such Person,
as such Trustee, was not a party.

 

“Indexed
Security” means a Security as to which all or certain interest payments
and/or the principal amount payable at Maturity are determined by reference to
prices, changes in prices, or differences between prices, of securities,
Currencies, intangibles, goods, articles or commodities or by such other
objective price, economic or other measures as are specified in Section 301
hereof.

 

“Intercompany
Debtor” has the meaning specified in Section 1108.

 

“interest”,
when used with respect to an Original Issue Discount Security which by its
terms bears interest only after Maturity, shall mean interest payable after
Maturity.

 

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

 

“Market
Exchange Rate” means, unless otherwise specified with respect to any
Securities pursuant to Section 301, (i) for any conversion involving
a currency unit on the one hand and Dollars or any Foreign Currency on the
other, the exchange rate between the relevant currency unit and Dollars or such
Foreign Currency calculated by the method specified pursuant to Section 301
for the Securities of the relevant series, (ii) for any conversion of
Dollars into any Foreign Currency, the noon buying rate for such Foreign
Currency for cable transfers quoted in New York City as certified for customs
purposes by the Federal Reserve Bank of New York and (iii) for any
conversion of one Foreign Currency into Dollars or another Foreign Currency,
the spot rate at noon local time in the relevant market at which, in accordance
with normal banking procedures, the Dollars or Foreign Currency into which
conversion is being made could be purchased with the Foreign Currency from
which conversion is being made from major banks located in either New York
City, London or any other principal market for Dollars or such purchased
Foreign Currency, in each case determined by the Exchange Rate Agent.  Unless otherwise specified with respect to
any Securities pursuant to Section 301, in the event of the unavailability
of any of the exchange rates provided for in the foregoing clauses (i), (ii) and
(iii), the Exchange Rate Agent shall use, in its sole discretion and without
liability on its part, such quotation of the Federal Reserve Bank of New York
as of the most recent available date, or quotations from one or more major
banks in New York City, London or other principal market for such currency or
currency unit in question, or such other quotations as the Exchange Rate Agent
shall deem appropriate.  Unless otherwise
specified by the Exchange Rate Agent, if there 

 

6

 

is more
than one market for dealing in any currency or currency unit by reason of
foreign exchange regulations or otherwise, the market to be used in respect of
such currency or currency unit shall be that upon which a nonresident issuer of
securities designated in such currency or currency unit would purchase such
currency or currency unit in order to make payments in respect of such
securities.

 

“Maturity”,
when used 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
therein or herein provided, whether at the Stated Maturity or by declaration of
acceleration, notice of redemption, notice of option to elect repayment, notice
of exchange or conversion, or otherwise.

 

“Officers’
Certificate” means a certificate signed by two directors of the Company and
attested to by the Secretary or Assistant Secretary of the Guarantor or by the
Chairman, the President or any Vice President and by the Treasurer, an
Assistant Treasurer, the Comptroller or an Assistant Comptroller, the Secretary
or an Assistant Secretary of the Guarantor, as applicable, 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 counsel for the
Company or the Guarantor or who may be an employee of or other counsel for the
Company or the Guarantor.

 

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

 

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

 

(i)                                     Securities
theretofore canceled by the Trustee or Security Registrar or delivered to the
Trustee or Security Registrar for cancellation;

 

(ii)                                  Securities,
or portions thereof, for whose payment or redemption or repayment at the option
of the Holder money in the necessary amount has been theretofore deposited with
the Trustee or any Paying Agent (other than the Company or the Guarantor) in
trust or set aside and segregated in trust by the Company or the Guarantor (if
the Company or the Guarantor shall act as its own, or authorize the Guarantor
to 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;

 

(iii)                               Securities,
except to the extent provided in Sections 1402 and 1403, with respect to
which the Company or the Guarantor has effected defeasance and/or covenant
defeasance as provided in Article XIV; and

 

(iv)                              Securities
which have been paid pursuant to Section 306 or in exchange for or in lieu
of which other Securities have been authenticated and delivered 

 

7

 

pursuant to this
Indenture, other than any such Securities in respect of which there shall have
been presented to the Trustee proof satisfactory to it that such Securities are
held by a bona fide purchaser in whose hands such Securities are valid
obligations of the Company;

 

provided, however, that in
determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given any request, demand, authorization, direction,
notice, consent or waiver hereunder or are present at a meeting of Holders for
quorum purposes, and for the purpose of making the calculations required by TIA
Section 313, (i) the principal amount of an Original Issue Discount
Security that may be counted in making such determination or calculation and
that shall be deemed to be Outstanding for such purpose shall be equal to the
amount of principal thereof that would be (or shall have been declared to be)
due and payable, at the time of such determination, upon a declaration of
acceleration of the Maturity thereof pursuant to Section 502, (ii) the
principal amount of any Security denominated in a Foreign Currency that may be
counted in making such determination or calculation and that shall be deemed
Outstanding for such purpose shall be equal to the Dollar equivalent,
determined as of the date such Security is originally issued by the Company as
set forth in an Exchange Rate Officer’s Certificate delivered to the Trustee,
of the principal amount (or, in the case of an Original Issue Discount Security
or Indexed Security, the Dollar equivalent as of such date of original issuance
of the amount determined as provided in clause (i) above or (iii) below,
respectively) of such Security, (iii) the principal amount of any Indexed
Security that may be counted in making such determination or calculation and
that shall be deemed Outstanding for such purpose shall be equal to the
principal face amount of such Indexed Security at original issuance, unless
otherwise provided with respect to such Security pursuant to Section 301,
and (iv) Securities owned by the Company or the Guarantor or any other
obligor upon the Securities or any Affiliate of the Company or the Guarantor or
of such other obligor shall be disregarded and deemed not to be Outstanding
(except in the case where the Securities are 100% owned by the Company or any
Affiliate of the Company), except that, in determining whether the Trustee
shall be protected in making such calculation or in relying upon any such
request, demand, authorization, direction, notice, consent or waiver, only
Securities which the Trustee actually knows to be so owned shall be so
disregarded.  Securities so owned which
have been pledged in good faith may be regarded as Outstanding if the pledgee
establishes to the satisfaction of the Trustee the pledgee’s right so to act
with respect to such Securities and that the pledgee is not the Company or the
Guarantor or any other obligor upon the Securities or any Affiliate of the
Company or the Guarantor or of such other obligor.

 

“Paying
Agent” means any Person authorized by the Company to pay the principal of
(or premium, if any) or interest, if any, on any Securities or coupons on
behalf of the Company.

 

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

 

“Place
of Payment”, when used with respect to the Securities of or within any
series, means the place or places where the principal of (and premium, if any)
and interest, if any, on such Securities are payable as specified and as
contemplated by Sections 301 and 1002.

 

8

 

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

 

“Redemption
Date”, when used with respect to any Security to be redeemed, in whole or
in part, means the date fixed for such redemption by or pursuant to this
Indenture.

 

“Redemption
Price”, when used with respect to any Security to be redeemed, means the
price at which it is to be redeemed pursuant to this Indenture.

 

“Registered
Security” shall mean any Security which is registered in the Security
Register.

 

“Regular
Record Date” for the interest payable on any Interest Payment Date on the
Registered Securities of or within any series means the date specified for that
purpose as contemplated by Section 301, whether or not a Business Day.

 

“Repayment
Date” means, when used with respect to any Security to be repaid at the
option of the Holder, the date fixed for such repayment by or pursuant to this
Indenture.

 

“Repayment
Price” means, when used with respect to any Security to be repaid at the
option of the Holder, the price at which it is to be repaid by or pursuant to
this Indenture.

 

“Responsible
Officer”, when used with respect to the Trustee, means any officer of the
Trustee assigned to the Corporate Trust Division - Corporate Finance Unit (or
any successor division or unit) of the Trustee located at the Corporate Trust
Office of the Trustee, who shall have direct responsibility for the
administration of this Indenture, and for the purposes of Section 601(c)(2) and
Section 602 shall also include any other officer of the Trustee to whom
any corporate trust matter is referred because of such officer’s knowledge of
and familiarity with the particular subject.

 

“Security”
or “Securities” has the meaning stated in the first recital of this
Indenture and, more particularly, means any Security or Securities
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 the Indenture as to which such Person
is Trustee shall have the meaning stated in the first recital of this Indenture
and shall more particularly 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.

 

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

 

9

 

“Stated
Maturity”, when used with respect to any Security or any installment of
principal thereof or interest thereon or any Additional Amounts with respect
thereto, means the date specified in such Security or a coupon representing
such installment of interest 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, as such date may be extended pursuant to the
provisions of Section 308.

 

“Subsidiary”
means any corporation a majority of the outstanding voting stock of which is
owned, directly or indirectly, by the Guarantor or by one or more other
Subsidiaries of the Guarantor.  For the
purposes of this definition, “voting stock” means stock having voting power for
the election of directors, whether at all times or only so long as no senior
class of stock has such voting power by reason of any contingency.

 

“TARGET”
means the Trans-European Automated Real-Time Gross Settlement Express Transfer
System.

 

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

 

“United
States” means, unless otherwise specified with respect to any Securities
pursuant to Section 301, the United States of America (including the
states and the District of Columbia), its territories, its possessions and
other areas subject to its jurisdiction.

 

“United
States person” means, unless otherwise specified with respect to any
Securities pursuant to Section 301, an individual who is a citizen or
resident of the United States, a corporation, partnership or other business entity
created or organized in or under the laws of the United States, or any state or
the District of Columbia, or an estate the income of which is subject to United
States federal income taxation regardless of its source or any trust if a court
within the United States is able to exercise primary supervision over the
administration of the trust and one or more United States persons have the
authority to control all substantial decisions of the trust.

 

“Valuation
Date” has the meaning specified in Section 312(c).

 

“Yield
to Maturity” means the yield to maturity, computed at the time of issuance
of a Security (or, if applicable, at the most recent redetermination of
interest on such Security) and as set forth in such Security in accordance with
generally accepted United States bond yield computation principles.

 

Section 102          Compliance Certificates and Opinions.  Except as otherwise expressly
provided in this Indenture, upon any application or request by the Company or
the Guarantor to the Trustee to take any action under any provision of this
Indenture, the Company or the Guarantor, as the case may be, shall furnish to
the Trustee an Officers’ 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 is specifically required by any provision of this Indenture
relating to such particular application or request, no additional certificate
or opinion need be furnished.

 

10

 

Every
certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (other than pursuant to Section 1005) shall
include:

 

(1)   a
statement that each individual signing such certificate or opinion has read
such condition or covenant and the definitions herein relating thereto;

 

(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 each 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 condition or covenant has been
complied with; and

 

(4)   a
statement as to whether, in the opinion of each such individual, such condition
or covenant has been complied with.

 

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

 

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, they may, but need not, be consolidated and form one
instrument.

 

Section 104          Acts of Holders.  (a)  Any request, demand,
authorization, direction, notice, consent, waiver or other action provided by
this Indenture to be given or taken by Holders of the Outstanding Securities of
all series or one or more series, as the case may be, may be embodied in and
evidenced by one or more instruments of substantially similar tenor signed by
such Holders in person or by agents duly appointed in writing.  Any request, demand, authorization,
direction, notice, consent, waiver or other 

 

11

 

action provided by this Indenture to be 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 XV, 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 and the Guarantor.  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 the
Guarantor and any agent of the Trustee, the Company or the Guarantor, 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.

 

(b)   The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may be proved in
any manner that the Trustee deems reasonably sufficient.

 

(c)   The ownership of Registered Securities shall be proved by
the Security Register.

 

(d)   The ownership of Bearer Securities 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 and the Guarantor, wherever situated, if such
certificate shall be deemed by 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 Trustee to be
satisfactory.  The Trustee, the Company
and the Guarantor 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 of Bearer Securities may also be proved in any other
manner that the Trustee deems sufficient.

 

(e)   If the Company or the Guarantor shall solicit from the
Holders of Registered Securities any request, demand, authorization,  direction, notice, consent, waiver or other
Act, the Company or the Guarantor, as the case may be, may, at its option, in
or pursuant to an applicable Board Resolution, fix in advance a record date for
the determination of Holders entitled to give such request, demand,
authorization, direction, notice, consent, waiver or other Act, but neither the
Company nor the Guarantor shall have any obligation to do so.  Notwithstanding TIA Section 316(c), such
record date shall be the record date specified in or pursuant to such Board
Resolution, which shall be a date not earlier than the date 30 days prior
to the first solicitation of Holders generally in connection therewith and not
later than the date such 

 

12

 

solicitation is
completed.  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 record at the close of business on such record date shall be deemed
to be Holders for the purposes of determining whether Holders of the requisite
proportion of Outstanding Securities have authorized or 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 on such record date shall be deemed effective unless it
shall become effective pursuant to the provisions of this Indenture not later
than eleven months after the record date.

 

(f)    Any request, demand, authorization, direction, notice,
consent, waiver or other Act of 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, omitted or suffered to be done by the Trustee, any
Security Registrar, any Paying Agent, any Authenticating Agent, the Company or
the Guarantor in reliance thereon, whether or not notation of such action is
made upon such Security.

 

Section 105          Notices, etc., to
Trustee, the Company and the Guarantor.  Any
request, demand, authorization, direction, notice, consent, waiver or 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 by the Company or the Guarantor 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, Attention:  Corporate Trust Division — Corporate Finance
Unit, or

 

(2)   the
Company or the Guarantor by the Trustee or by 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 or the
Guarantor, as the case may be, addressed to it at the address of its principal
office specified in the first paragraph of this Indenture or at any other
address previously furnished in writing to the Trustee by the Company or the
Guarantor, as the case may be.

 

Section 106          Notice to Holders;
Waiver.  Where this Indenture
provides for notice of any event to Holders of Registered Securities by the
Company, the Guarantor or the Trustee, such notice shall be sufficiently given
(unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to each such Holder 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.  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
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 mailed to a Holder in the manner herein prescribed shall be conclusively
deemed to have been received by such Holder, whether or not such Holder
actually receives such notice.

 

13

 

If by
reason of the suspension of or irregularities in regular mail service or by
reason of any other cause it shall be impracticable to give such notice by
mail, then such written or electronic notification to Holders of Registered
Securities as shall be made with the approval of the Trustee shall constitute a
sufficient notification to such Holders for every purpose hereunder.

 

Except
as otherwise expressly provided herein or otherwise specified with respect to
any Securities pursuant to Section 301, where this Indenture provides for
notice to Holders of Bearer Securities of any event, such notice shall be
sufficiently given if published in an Authorized Newspaper in The City of New
York and in such other city or cities as may be specified in such Securities on
a Business Day, such publication to be not later than the latest date, and not
earlier than the earliest date, prescribed for the giving of such notice.  Any such notice shall be deemed to have been
given on the date of such publication or, if published more than once, on the
date of the first such publication.

 

If 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 with the
approval of the Trustee shall constitute sufficient written notice to such
Holders for every purpose hereunder. 
Neither the failure to give notice by publication to Holders of Bearer
Securities as provided above, nor any defect in any notice so published, shall
affect the sufficiency of such notice with respect to other Holders of Bearer
Securities or the sufficiency of any notice to Holders of Registered Securities
given as provided herein.

 

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

 

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

 

Section 107          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 108          Successors and
Assigns.  All covenants and
agreements in this Indenture by the Company or the Guarantor shall bind their
respective successors and assigns, whether so expressed or not.

 

Section 109          Separability
Clause.  In case any provision in
this Indenture or in any Security or coupon or any Guarantee shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby.

 

Section 110          Benefits of
Indenture.  Nothing in this Indenture
or in the Securities or coupons or any Guarantee, express or implied, shall
give to any Person, other than the parties hereto, any 

 

14

 

Security Registrar, any Paying Agent, any Authenticating Agent and
their successors hereunder and the Holders any benefit or any legal or
equitable right, remedy or claim under this Indenture.

 

Section 111          Governing Law.  This Indenture, the Securities and
coupons, and the Guarantees shall be governed by and construed in accordance
with the laws of the State of New York without regard to conflicts of law
principles of such state other than New York General Obligation Law Section 5-1401.  This Indenture is subject to the provisions
of the Trust Indenture Act that are required or deemed to be part of this
Indenture and shall, to the extent applicable, be governed by such provisions.

 

For the avoidance
of doubt, the provisions of Articles 86 to 94–8 of the Luxembourg law on
commercial companies dated August 10, 1915, as amended, are hereby
excluded.

 

Section 112          Legal Holidays.  Unless otherwise specified in or pursuant
to this Indenture or any Security; in any case where any Interest Payment Date,
Redemption Date, Repayment Date, sinking fund payment date, Stated Maturity or
Maturity of any Security shall not be a Business Day at any Place of Payment,
then, payment of principal (or premium, if any) or interest, if any, need not
be made at such Place of Payment on such date, but may be made on the next
succeeding Business Day at such Place of Payment with the same force and effect
as if made on the Interest Payment Date, Redemption Date, Repayment Date or
sinking fund payment date, or at the Stated Maturity or Maturity; provided
that no interest shall accrue on the amount so payable for the period from and
after such Interest Payment Date, Redemption Date, Repayment Date, sinking fund
payment date, Stated Maturity or Maturity, as the case may be, to such next
Business Day.

 

Section 113          Submission to Jurisdiction; Appointment of Agent for Service
of Process.  The Company hereby appoints CT Corporation System acting through its
office at 111 Eighth Avenue, 13th Floor, New York, New York 10011 as its
authorized agent (the “Authorized Agent”) upon which process may be served in
any legal action or proceeding against the Company with respect to its
obligations under this Indenture or the Securities of any series, instituted in
any federal or state court in the Borough of Manhattan, The City of New York by
the Holder of any Security and the Company agrees that service of process upon
such Authorized Agent, together with written notice of said service to the
Company by the Person serving the same addressed as provided in Section 105,
shall be deemed in every respect effective service of process upon the Company
in any such legal action or proceeding. 
The Company hereby irrevocably submits to the non-exclusive jurisdiction
of any such court in respect of any such legal action or proceeding and waives
any objection it may have to the laying of the venue of any such legal action
or proceeding.  Such designation shall be
irrevocable until all amounts in respect of the principal of and any premium
and interest due and to become due on or in respect of all the Securities
issued under this Indenture have been paid by the Company or the Guarantor, as
the case may be, to the Trustee pursuant to the terms hereof, the Securities
and the Guarantees.  Notwithstanding the
foregoing, the Company reserves the right to appoint another Person located or
with an office in the Borough of Manhattan, The City of New York, selected in
its discretion, as a successor Authorized Agent, and upon acceptance of such
consent to service of process by such a successor the designation of the prior
Authorized Agent shall terminate.  The
Company shall give written notice to the Trustee and all Holders of the
designation by it of a 

 

15

 

successor Authorized Agent.  If
for any reason CT Corporation System ceases to be able to act as the Authorized
Agent or to have an address in the Borough of Manhattan, The City of New York,
the Company will appoint a successor Authorized Agent in accordance with the
preceding sentence.  The Company further
agrees to take any and all action, including the filing of any and all
documents and instruments, as may be necessary to continue such designation of
such agent in full force and effect until this Indenture has been satisfied and
discharged.  Service of process upon the
Authorized Agent addressed to it at the address set forth above, as such
address may be changed within the Borough of Manhattan, The City of New York by
notice given by the Authorized Agent to the Trustee, together with written
notice of such service mailed or delivered to the Company, shall be deemed, in
every respect, effective service of process on the Company.

 

Section 114          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 that 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 legal holiday in The City of New York.

 

ARTICLE II

SECURITIES FORMS

 

Section 201          Forms of Securities.  The Registered Securities, if any, of each
series and the Bearer Securities, if any, of each series and related coupons
shall be in substantially the forms as shall be established in one or more
indentures supplemental hereto or approved from time to time by or pursuant to
a Board Resolution in accordance with Section 301, shall have such
appropriate insertions, omissions, substitutions and other variations as are
required or permitted by this Indenture or any indenture supplemental hereto,
and may have such letters, numbers or other marks of identification or
designation and such legends or endorsements placed thereon as the Company or
the Guarantor may deem appropriate and as are not inconsistent with the
provisions of this Indenture, or as may be required to comply with any law or
with any rule or regulation made pursuant thereto or with any rule or
regulation of any stock exchange on which the Securities may be listed, or to
conform to usage.

 

16

 

Unless
otherwise specified as contemplated by Section 301, Bearer Securities
shall have interest coupons attached.

 

If Article XVI
is to be applicable to Securities of any series, established as contemplated by
Section 301, then Securities of each such series shall bear a Guarantee in
substantially the form set forth in Section 204.  For any other series of Securities, the
Guarantee shall be endorsed on the Securities and shall be substantially in the
form established by or pursuant to Board Resolutions of the Guarantor in
accordance with Section 301 or one or more indentures supplemental
hereto.  Notwithstanding the foregoing,
the Guarantee or the Guarantees to be endorsed on the Securities of any series
may have such appropriate insertions, omissions, substitutions and other
corrections from the forms thereof referred to above as are required or
permitted by this Indenture and may have such letters, numbers or other marks
of identification and such legends or endorsements placed thereon as may be
required to comply with the rules of any securities exchange or as may,
consistently herewith, be determined by the directors or officers delivering
the same, in each case as evidenced by such delivery.

 

The
definitive Securities and coupons shall be printed, lithographed or engraved or
produced by any combination of these methods on a steel engraved border or
steel engraved borders or may be produced in any other manner, all as
determined by the two directors executing such Securities or coupons, as
evidenced by their execution of such Securities or coupons.

 

Section 202          Form of Trustee’s Certificate of Authentication.  Subject to Section 612,
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.

 

 

	
   

  	
  THE BANK OF NEW YORK
  MELLON,

  
	
   

  	
  as
  Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
  Authorized
  Signatory

  

 

Section 203          Securities Issuable in Global Form.  If Securities
of or within a series are issuable in global form, as specified as contemplated
by Section 301, then, notwithstanding clause (8) of Section 301
and the provisions of Section 302, any such Security shall represent such
of the Outstanding Securities of such series as shall be specified therein and
may provide that it shall represent the aggregate amount of Outstanding
Securities of such series from time to time endorsed thereon and that the
aggregate amount of Outstanding Securities of such series represented thereby
may from time to time be increased or decreased to reflect exchanges.  Any endorsement of a Security in global form
to reflect the amount, or any increase or decrease in the amount, of
Outstanding Securities represented thereby shall be made by the Trustee in such
manner and upon instructions given by such Person or Persons as shall be
specified therein or in the Company Order to be delivered to the Trustee
pursuant to Section 303 or 304. 
Subject to the 

 

17

 

provisions of Section 303 and, if applicable, Section 304,
the Trustee shall deliver and redeliver any Security in permanent global form
in the manner and upon instructions given by the Person or Persons specified
therein or in the applicable Company Order. 
If a Company Order pursuant to Section 303 or 304 has been, or
simultaneously is, delivered, any instructions by the Company with respect to
endorsement, delivery or redelivery of a Security in global form shall be in
writing but need not comply with Section 102 and need not be accompanied
by an Opinion of Counsel.

 

The
provisions of the last sentence of the seventh paragraph of Section 303
shall apply to any Security represented by a Security in global form if such
Security was never issued and sold by the Company and the Company delivers to
the Trustee the Security in global form together with written instructions
(which need not comply with Section 102 and need not be accompanied by an
Opinion of Counsel) with regard to the reduction in the principal amount of
Securities represented thereby, together with the written statement
contemplated by the last sentence of the seventh paragraph of Section 303.

 

Notwithstanding
the provisions of Section 307, unless otherwise specified as contemplated
by Section 301, payment of principal of (and premium, if any) and
interest, if any, on any Security in permanent global form shall be made to the
Person or Persons specified therein.

 

Notwithstanding
the provisions of Section 309 and except as provided in the preceding
paragraph, the Company, the Guarantor, the Trustee and any agent of the Company,
the Guarantor and the Trustee shall treat as the Holder of such principal
amount of Outstanding Securities represented by a permanent global Security (i) in
the case of a global Registered Security, the Holder thereof, or (ii) in
the case of a global Bearer Security, Euroclear or Clearstream.

 

Section 204          Form of Guarantee. 
The Guarantee afforded by Article XVI
shall be endorsed on the Securities of any applicable series substantially as
follows:

 

For
value received, Deere & Company, a corporation duly organized and
existing under the laws of the State of Delaware (herein called the “Guarantor”,
which term includes any successor Person under the Indenture (the “Indenture”)
referred to in the Security on which this Guarantee is endorsed), has fully and
unconditionally guaranteed, pursuant to the terms of the Guarantee contained in
Article XVI of the Indenture, the due and punctual payment of the
principal of and any premium and interest on such Security, when and as the
same shall become due and payable, whether at the Stated Maturity, by
declaration of acceleration, call for redemption or otherwise, in accordance
with the terms of such Security and the Indenture.

 

All
payments pursuant to this Guarantee shall be made without withholding or
deduction for, or on account of, any present or future taxes, duties,
assessments or governmental charges of whatever nature imposed or levied by or
on behalf of Luxembourg or the jurisdiction of organization of any successor
Company or any political subdivision or taxing authority thereof or therein,
unless such taxes, duties, assessments or governmental charges are required by
Luxembourg (or, in the case of a successor Person to the Company, of the
jurisdiction in which such successor is organized) or any such subdivision or
authority to be withheld or 

 

18

 

deducted.
In that event, the Guarantor will pay such Additional Amounts as will result
(after deduction of such taxes, duties, assessments or governmental charges and
any additional taxes, duties, assessments or governmental charges payable in
respect of such) in the payment to the Holder of the Security on which this
Guarantee is endorsed of the amounts which would have been payable in respect
of this Guarantee had no such withholding or deduction been required, except
that no Additional Amounts shall be so payable for or on account of:

 

(1)   any
tax, duty, assessment or other governmental charge imposed by the United States
or any political subdivision or taxing authority thereof or therein;

 

(2)   any
tax, duty, assessment or other governmental charge which would not have been
imposed but for (A) the existence of any present or former connection
between such Holder or a third party on behalf of such Holder by reason of its
(or between a fiduciary, settlor, beneficiary member, shareholder or possessor
of a power over such Holder, if such Holder is an estate, trust, partnership or
corporation) having some present or former connection with Luxembourg (or, in
the case of a successor Person to the Company, of the jurisdiction in which
such successor is organized.) (including being or having been a citizen or
resident of Luxembourg (or such successor Person’s jurisdiction) or being or
having been engaged in a trade or business or present therein or having or
having had a permanent establishment therein, but not including the mere
holding or ownership of a debt security), or (B) the presentation of such
Security or the Guarantee thereof for payment more than 30 days after the date
on which such payment became due or was provided for, whichever is later;

 

(3)   any
tax, duty, assessment or other governmental charge which is payable otherwise
than by withholding or deduction from payments of (or in respect of) principal
of or any premium or interest on the Securities or the Guarantee(s) thereof;

 

(4)   any
amount of any tax, duty, assessment or other charge required to be withheld by
a paying agent from a payment on a guaranteed debt security, if such payment
can be made without such withholding by any other paying agent;

 

(5)   any
tax, duty, assessment or other governmental charge that is imposed or withheld
by reason of the failure to comply by the Holder or the beneficial owner of a
Security with a request of the Company or the Guarantor addressed to the Holder
(A) to provide information concerning the nationality, residence or
identity of the Holder or such beneficial owner or (B) to make any
declaration or other similar claim or satisfy any information or reporting
requirement, which, in the case of (A) or (B), is required or imposed by
statute, treaty, regulation or administrative practice of the taxing
jurisdiction as a precondition to exemption from all or part of such tax,
assessment or other governmental charge;

 

(6)   any
withholding or deduction that is imposed on a payment to an individual or a
residual entity within the meaning of the European Union Directive and required
to be made pursuant to (i) any European Union Directive on the taxation of
savings implementing the conclusions of the ECOFIN (European Union Economic and
Finance Ministers) Counsel Meeting of 26-27 November 2000 or 

 

19

 

any law implementing or complying with or introduced in order to
conform to such Directive, (ii) the Luxembourg law dated December 23,
2005 introducing a 10 percent final withholding tax on Luxembourg resident
individuals and (iii) the agreements on savings income concluded by the
State of Luxembourg with several dependant or associated territories of the
European Union (being Jersey, Guernsey, the Isle of Man, the British Virgin
Islands, Monserrat, the Dutch Antilles and Aruba);

 

(7)   any
estate, inheritance, gift, sale, transfer, personal property or any similar
tax, duty, assessment or other governmental charge; or

 

(8)   any
combination of items (1), (2), (3), (4), (5), (6) and (7).

 

Additionally,
Additional Amounts shall not be paid with respect to any payment in respect of
any Security to any Holder who is a fiduciary or partnership or other than the
sole beneficial owner of such payment to the extent such payment would be
required by the laws of Luxembourg (or any political subdivision or taxing
authority thereof or therein) (or in the case of a successor Person to the
Company of the jurisdiction in which such successor Person is organized or any
political subdivision or taxing authority thereof or therein) to be included in
the income for tax purposes of a beneficiary or settlor with respect to such
fiduciary or a member of such partnership or a beneficial owner who would not
have been entitled to such Additional Amounts had it been the Holder of such
Security.

 

The
obligations of the Guarantor to the Holders of the Securities and to the
Trustee pursuant to the Guarantee and the Indenture are expressly set forth in Article XVI
of this Indenture, and reference is hereby made to such Article and
Indenture for the precise terms of this Guarantee.

 

This
Guarantee shall not be valid or obligatory for any purpose until the
certificate of authentication on the Security upon which this Guarantee is
endorsed shall have been executed by the Trustee under the Indenture by the
manual signature of one of its authorized signatories.

 

This
Guarantee is unsecured and ranks pari passu with all other unsecured and unsubordinated
obligations of the Guarantor.

 

Capitalized
terms used herein and not otherwise defined herein have the meanings specified
in the Indenture.

 

IN
WITNESS WHEREOF, the Guarantor has caused this Guarantee to be duly executed
under its corporate seal.

 

	
   

  	
  Dated:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  DEERE &
  COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

20

 

	
  Attest:

  
	
   

  	
   

  

 

ARTICLE
III

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 and shall rank equally and pari
passu with other Securities of such series. 
There shall be established in one or more Board Resolutions or pursuant
to authority granted by one or more Board Resolutions and, subject to Section 303,
set forth, or determined in the manner provided, in an Officers’ Certificate,
or established in one or more indentures supplemental hereto, prior to the
issuance of Securities of any series, any or all of the following, as
applicable (each of which (except for the matters set forth in
clauses (1), (2) and (15) below), if so provided, may be determined
from time to time by the Company with respect to unissued Securities of the
series when issued from time to time):

 

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

 

(2)   any
limit upon the aggregate principal amount of the Securities of the series that
may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, other Securities of the series pursuant to Section 304,
305, 306, 906, 1107 or 1305);

 

(3)   the
date or dates, or the method by which such date or dates will be determined or
extended, on which the principal of the Securities of the series shall be
payable;

 

(4)   the
rate or rates at which the Securities of the series shall bear interest, if
any, or the method by which such rate or rates shall be determined, the date or
dates from which such interest shall accrue or the method by which such date or
dates shall be determined, the Interest Payment Dates on which such interest
will be payable and the Regular Record Date, if any, for the interest payable
on any Registered Security on any Interest Payment Date, or the method by which
such date shall be determined, and the basis upon which such interest shall be
calculated if other than that of a 360-day year of twelve 30-day months;

 

(5)   the
place or places, if any, other than or in addition to the Borough of Manhattan,
The City of New York, where the principal of (and premium, if any) and interest
and Additional Amounts, if any, on Securities of the series shall be payable,
any Registered Securities of the series may be surrendered for registration of
transfer, Securities of the series may be surrendered for exchange, 

 

21

 

and where notices or demands to or upon the Company in respect of the
Securities of the series and this Indenture may be served;

 

(6)   the
period or periods within which, the price or prices at which, the Currency or
Currencies in which, and other terms and conditions upon which Securities, of
the series may be redeemed, in whole or in part, at the option of the Company,
if the Company is to have the option;

 

(7)   the
obligation, if any, of the Company to redeem, repay or purchase Securities of
the series pursuant to any sinking fund or analogous provision or at the option
of a Holder thereof, and the period or periods within which or the date or
dates on which, the price or prices at which, the Currency or Currencies in
which, and other terms and conditions upon which, Securities of the series
shall be redeemed, repaid or purchased, in whole or in part, pursuant to such
obligation;

 

(8)   if
other than denominations of $1,000 and any integral multiple thereof, the
denomination or denominations in which any Registered Securities of the series
shall be issuable and, if other than denominations of $5,000, the denomination
or denominations in which any Bearer Securities of the series shall be
issuable;

 

(9)   if
other than the Trustee, the identity of each Security Registrar and/or Paying
Agent;

 

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

 

(11) if
other than Dollars, the Currency or Currencies in which payment of the
principal of (or premium, if any) or interest, if any, on the Securities of the
series shall be made or in which the Securities of the series shall be
denominated and the particular provisions applicable thereto in accordance
with, in addition to or in lieu of any of the provisions of Section 312;

 

(12) whether
the amount of payments of principal of (or premium, if any) or interest, if
any, on the Securities of the series may be determined with reference to an
index, formula or other method (which index, formula or method may be based,
without limitation, on one or more Currencies, commodities, equity indices or
other indices), and the manner in which such amounts shall be determined;

 

(13) whether
the principal of (or premium, if any) or interest, if any, on the Securities of
the series are to be payable, at the election of the Company, the Guarantor or
a Holder thereof, in one or more Currencies, other than that in which such
Securities are denominated or stated to be payable, the period or periods
within which (including the Election Date), and the terms and conditions upon
which, such election may be made, and the time and manner of determining the
exchange rate between the Currency or Currencies in which such Securities are
denominated or stated to be payable and the Currency or Currencies in which 

 

22

 

such Securities are to be paid, in each case in accordance with, in
addition to or in lieu of any of the provisions of Section 312;

 

(14) provisions,
if any, granting special rights to the Holders of Securities of the series upon
the occurrence of such events as may be specified;

 

(15) any
deletions from, modifications of or additions to the Events of Default or
covenants (including any deletions from, modifications of or additions to any
of the provisions of Section 1008) of the Company or the Guarantor, as the
case may be, with respect to Securities of the series, whether or not such
Events of Default or covenants are consistent with the Events of Default or
covenants set forth herein;

 

(16) whether
Securities of the series are to be issuable as Registered Securities, Bearer
Securities (with or without coupons) or both, any restrictions applicable to
the offer, sale or delivery of Bearer Securities and the terms upon which
Bearer Securities of the series may be exchanged for Registered Securities of
the series and vice versa (if permitted by applicable laws and regulations),
whether any Securities of the series are to be issuable initially in temporary
global form and whether any Securities of the series are to be issuable in
permanent global form with or without coupons and, if so, whether beneficial
owners of interests in any such permanent global Security may exchange such
interests for Securities of such series in certificated form and of like tenor
of any authorized form and denomination and the circumstances under which any
such exchanges may occur, if other than in the manner provided in Section 305,
and, if Registered Securities of the series are to be issuable as a global
Security, the identity of the depository for such series;

 

(17) the
date as of which any Bearer Securities of the series and any temporary global
Security representing Outstanding Bearer Securities of the series shall be
dated if other than the date of original issuance of the first Security of the
series to be issued;

 

(18) the
Person to whom any interest on any Registered Security of the series shall be
payable, if other than the Person in whose name such 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 the series shall be payable, if otherwise
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 on an Interest Payment Date
will be paid if other than in the manner provided in Section 304;

 

(19) the
applicability, if any, of Sections 1402 and/or 1403 to the Securities of
the series and any provisions in modification of, in addition to or in lieu of
any of the provisions of Article XIV;

 

23

 

(20)                if
the Securities of such series are to be issuable in definitive
form (whether upon original issue or upon exchange of a temporary Security
of such series) only upon receipt of certain certificates or other documents or
satisfaction of other conditions, then the form and/or terms of such
certificates, documents or conditions;

 

(21)                the
designation of the initial Exchange Rate Agent, if any;

 

(22)                if
the Securities will be entitled to the benefit of the Guarantee afforded by Article XVI
or, if not, the form of the Guarantee to be endorsed on the Securities; and

 

(23)                any
other terms of the series (which terms shall not be inconsistent with the
provisions of this Indenture or the requirements of the Trust Indenture Act).

 

All Securities of any one series and the coupons
appertaining to any Bearer Securities of such series shall be substantially
identical except, in the case of Registered Securities, as to denomination and
except as may otherwise be provided in or pursuant to such Board Resolution
(subject to Section 303) and set forth in such Officers’ Certificate or in
any such indenture supplemental hereto. 
All Securities of any one series need not be issued at the same time
and, unless otherwise provided, a series may be reopened, without the consent of
the Holders, for issuances of additional Securities of such series.

 

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

 

Section 302                               Denominations.  The Securities of each series
shall be issuable in such denominations as shall be specified as contemplated
by Section 301.  With respect to
Securities of any series denominated in Dollars, in the absence of any such
provisions with respect to the Securities of any series, the Registered
Securities of such series, other than Registered Securities issued in global
form (which may be of any denomination) shall be issuable in denominations
of $1,000 and any integral multiple thereof, and the Bearer Securities of such
series, other than Bearer Securities issued in global form (which may be
of any denomination), shall be issuable in a denomination of $5,000.

 

Section 303                               Execution, Authentication,
Delivery and Dating. 
The Securities and any coupons appertaining thereto and the Guarantees
to be endorsed on the Securities shall be executed on behalf of the Company by
two directors and on behalf of the Guarantor by its President, one of its Vice
Presidents, its Treasurer or its Secretary. 
The signature of any of these directors or officers on the Securities
and coupons and the Guarantees, as the case may be, may be manual or facsimile
signatures of the present or any future such authorized officer and may be
imprinted or otherwise reproduced on the Securities.  If Article XVI is to be applicable to
the Securities of any series, established as 

 

24

 

contemplated by Section 301, then the Guarantees in the form
specified by Section 204 shall be endorsed on the Securities of such series and
executed as provided in Section 1602.

 

Securities or coupons, or any Guarantee, bearing the
manual or facsimile signatures of individuals who were at any time the proper
officers of the Company or the Guarantor, as the case may be, shall bind the Company
or the Guarantor, as the case may be, notwithstanding that such individuals or
any of them have ceased to hold such offices prior to the authentication and
delivery of such Securities or coupons or such Guarantee or did not hold such
offices at the date of such Securities or coupons, or such Guarantee.

 

At any time and from time to time after the execution
and delivery of this Indenture, the Company may deliver Securities of any
series, together with any coupon appertaining thereto, executed by the Company,
having Guarantees endorsed thereon executed by the Guarantor, to the Trustee
for authentication, together with a Company Order for the authentication and
delivery of such Securities, and the Trustee in accordance with the Company
Order shall authenticate and deliver such Securities; provided, however,
that, in connection with its original issuance, no Bearer Security shall be
mailed or otherwise delivered to any location in the United States; and provided further
that, unless otherwise specified with respect to any series of Securities
pursuant to Section 301, a Bearer Security may be delivered in connection
with its original issuance only if the Person entitled to receive such Bearer
Security shall have furnished a certificate in the form set forth in Exhibit A-1
to this Indenture or such other certificate as may be specified with respect to
any series of Securities pursuant to Section 301, dated no earlier than 15
days prior to the earlier of the date on which such Bearer Security is
delivered and the date on which any temporary Security first becomes
exchangeable for such Bearer Security in accordance with the terms of such
temporary Security and this Indenture. 
If any Security shall be represented by a permanent global Bearer
Security, then, for purposes of this Section and Section 304, the
notation of a beneficial owner’s interest therein upon original issuance of
such Security or upon exchange of a portion of a temporary global Security
shall be deemed to be delivery in connection with its original issuance of such
beneficial owner’s interest in such permanent global Security.  Except as permitted by Section 306, the
Trustee shall not authenticate and deliver any Bearer Security unless all
appurtenant coupons for interest then matured have been detached and
cancelled.  If all the Securities of any
series are not to be issued at one time and if the Board Resolution or
supplemental indenture establishing such series shall so permit, such Company
Order may set forth procedures acceptable to the Trustee for the issuance of
such Securities and determining the terms of particular Securities of such
series, such as interest rate, maturity date, date of issuance and date from
which interest shall accrue.  In authenticating
such Securities, and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall be entitled to
receive, and (subject to TIA Section 315(a) through 315(d)) shall be
fully protected in relying upon,

 

(i)                                     an
Opinion of Counsel stating, in effect,

 

(a)  that
the form or forms of such Securities and any coupons and Guarantee have been
established in conformity with the provisions of this Indenture;

 

25

 

(b)  that
the terms of such Securities and any coupons and Guarantee have been
established in conformity with the provisions of this Indenture;

 

(c)  that
all conditions precedent under this Indenture relating to the authentication
and delivery of such securities have been complied with; and

 

(d)  that
such Securities, together with any coupons appertaining thereto and the
Guarantees thereof, when completed by appropriate insertions and executed and
delivered by the Company and the Guarantor, as applicable, to the Trustee for
authentication in accordance with this Indenture, authenticated and delivered
by the Trustee in accordance with this Indenture and issued by the Company, in
the manner and subject to any conditions specified in such Opinion of Counsel,
will constitute legal, valid and binding obligations of the Company and the
Guarantor, respectively, enforceable in accordance with their terms, subject to
applicable bankruptcy, insolvency, reorganization and other similar laws of
general applicability relating to or affecting the enforcement of creditors’
rights, to general equitable principles and to such other qualifications as
such counsel shall conclude do not materially affect the rights of Holders of
such Securities and any coupons; and

 

(ii)                                  an
Officers’ Certificate stating, to the best of the knowledge of the signers of
such certificate, that no Event of Default with respect to any of the
Securities shall have occurred and be continuing.

 

Notwithstanding the provisions of Section 301 and
of this Section 303, if all the Securities of any series are not to be
issued at one time, it shall not be necessary to deliver an Officers’
Certificate otherwise required pursuant to Section 301 or the Company
Order, Opinion of Counsel or Officers’ Certificate otherwise required pursuant
to the preceding paragraph at the time of issuance of each Security of such
series, but such order, opinion and certificates, with appropriate
modifications to cover such future issuances, shall be delivered at or before
the time of issuance of the first Security of such series.

 

If such form or terms have been so established, the
Trustee shall not be required to authenticate such Securities if the issue of
such Securities pursuant to this Indenture will affect the Trustee’s own
rights, duties, obligations or immunities under the Securities and this
Indenture or otherwise in a manner which is not reasonably acceptable to the
Trustee.  Notwithstanding the generality
of the foregoing, the Trustee will not be required to authenticate Securities
denominated in a Foreign Currency if the Trustee reasonably believes that it
would be unable to perform its duties with respect to such Securities.

 

Each Registered Security shall be dated the date of
its authentication and each Bearer Security shall be dated as of the date
specified as contemplated by Section 301.

 

No Security or coupon, or Guarantee, 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 

 

26

 

authentication substantially in the form provided for
herein duly executed by the Trustee by manual signature of an authorized
signatory, and such certificate upon any Security shall be conclusive evidence,
and the only evidence, that such Security, coupon and Guarantee have been duly
authenticated and delivered hereunder and are entitled to the benefits of this
Indenture.  Notwithstanding the
foregoing, if any Security shall have been authenticated and delivered
hereunder but never issued and sold by the Company, and the Company shall
deliver such Security to the Trustee for cancellation as provided in Section 310,
together with a written statement (which need not comply with Section 102
and need not be accompanied by an Opinion of Counsel) stating that such
Security has never been issued and sold by the Company, for all purposes of
this Indenture such Security, and the related Guarantee, shall be deemed never
to have been authenticated and delivered hereunder and shall never be entitled
to the benefits of this Indenture (including, if applicable, the Guarantee
pursuant to Article XVI).

 

The delivery of any Security by the Trustee, after the
authentication thereof hereunder, shall constitute delivery of the Guarantee
endorsed thereon on behalf of the Guarantor. 
The Guarantor by its execution of this Indenture hereby authorizes the
Company, in the name and on behalf of the Guarantor, to confirm the applicable
Guarantee to the Holder of each Security authenticated and delivered hereunder
by its execution and delivery of each such Security, with such Guarantee
endorsed thereon, authenticated and delivered by the Trustee.  When delivered pursuant to the provisions of Section 303
hereof, only Guarantees endorsed on the Securities shall bind the Guarantor,
notwithstanding the fact that the Guarantee does not bear the signature of the
Guarantor.

 

Section 304                               Temporary Securities.  (a)  Pending the preparation
of definitive Securities of any series, the Company may execute, the Guarantor
may execute its Guarantee to be endorsed on, and, upon Company Order, the
Trustee shall authenticate and deliver, temporary Securities 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 bearer form with one or more coupons or without coupons, and
with such appropriate insertions, omissions, substitutions and other variations
as the two directors executing such Securities, or officers executing the
Guarantees of the Guarantee pursuant to Article XVI, as applicable, may
determine, as conclusively evidenced by their execution of such Securities or
Guarantees, as the case may be.  In the
case of Securities of any series, 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 Section 304(b) or
as otherwise provided in or pursuant to a Board Resolution), if temporary
Securities of any series are issued, the Company will cause definitive
Securities of that series to be prepared without unreasonable delay.  After the preparation of definitive
Securities of such series, the temporary Securities of such series shall be
exchangeable for definitive Securities of such series upon surrender of the
temporary Securities of such series at the office or agency of the Company in a
Place of Payment for that series, without charge to the Holder.  Upon surrender for cancellation of any one or
more temporary Securities of any series (accompanied by any non-matured
coupons appertaining thereto), the Company shall execute, and the Guarantor
shall execute the Guarantee endorsed on, and the Trustee shall authenticate and
deliver in exchange therefor a like principal amount of, definitive 

 

27

 

Securities of the same series of authorized
denominations; provided, however, that no definitive Bearer
Security 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 Section 303.  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.

 

(b)  Unless otherwise provided in
or pursuant to a Board Resolution, this Section 304(b) shall govern
the exchange of temporary Securities issued in global form.  If temporary Securities of any series are
issued in global form, any such temporary global Security shall, unless
otherwise provided therein, be delivered to the London office of a depositary or
common depositary (the “Common Depositary”), for the benefit of Euroclear and
Clearstream, for credit to the respective accounts of the beneficial owners of
such Securities (or to such other accounts as they may direct).

 

Without unnecessary delay but in any event not later
than the date specified in, or determined pursuant to the terms of, any such
temporary global Security (the “Exchange Date”), the Company shall deliver to
the Trustee definitive Securities, of the same series executed by the Company and,
as applicable, the Guarantor in aggregate principal amount equal to the
principal amount of such temporary global Security, executed by the Company
and, with respect to the Guarantre endorsed thereon, the Guarantor.  On or after the Exchange Date, such temporary
global Security shall be surrendered by the Common Depositary to the Trustee,
as the Company’s agent for such purpose, to be exchanged, in whole or from time
to time in part, for definitive Securities of the same series without charge,
and the Trustee shall authenticate and deliver, in exchange for each portion of
such temporary global Security, an equal aggregate principal amount of
definitive Securities of the same series of authorized denominations and of
like tenor as the portion of such temporary global Security to be
exchanged.  The definitive Securities to
be delivered in exchange for any such temporary global Security shall be in
bearer form, registered form, permanent global bearer form or permanent global
registered form, or any combination thereof, as specified as contemplated by Section 301,
and, if any combination thereof is so specified, as requested by the beneficial
owner thereof; provided, however, that, unless otherwise
specified in such temporary global Security, upon such presentation by the
Common Depositary, such temporary global Security is accompanied by a
certificate dated the Exchange Date or a subsequent date and signed by
Euroclear as to the portion of such temporary global Security held for its
account then to be exchanged and a certificate dated the Exchange Date or a
subsequent date and signed by Clearstream as to the portion of such temporary
global Security held for its account then to be exchanged, each in the form set
forth in Exhibit A-2 to this Indenture or in such other form as may be
established pursuant to Section 301; and provided further
that definitive Bearer Securities shall be delivered in exchange for a portion
of a temporary global Security only in compliance with the requirements of Section 303.

 

Unless otherwise specified in such temporary global
Security, the interest of a beneficial owner of Securities of a series in a
temporary global Security shall be exchanged for definitive Securities of the
same series and of like tenor following the Exchange Date when the account
holder instructs Euroclear or Clearstream, as the case may be, to request such
exchange on his behalf and delivers to Euroclear or Clearstream, as the case
may be, a certificate in the form set forth in Exhibit A-1 to this
Indenture (or in such other form as may be established pursuant to Section 301),
dated no earlier than 15 days prior to the Exchange 

 

28

 

Date, copies of which certificate shall be available
from the offices of Euroclear and Clearstream, the Trustee, any Authenticating
Agent appointed for such series of Securities and each Paying Agent.  Unless otherwise specified in such temporary
global Security, any such exchange shall be made free of charge to the
beneficial owners of such temporary global Security, except that a Person
receiving definitive Securities must bear the cost of insurance, postage,
transportation and the like unless such Person takes delivery of such
definitive Securities in person at the offices of Euroclear or
Clearstream.  Definitive Securities in
bearer form to be delivered in exchange for any portion of a temporary global
Security shall be delivered only outside the United States.

 

Until exchanged in full as hereinabove provided, the
temporary Securities of any series shall in all respects be entitled to the
same benefits under this Indenture as definitive Securities of the same series
and of like tenor authenticated and delivered hereunder, except that, unless
otherwise specified as contemplated by Section 301, interest payable on a
temporary global Security on an Interest Payment Date for Securities of such
series occurring prior to the applicable Exchange Date shall be payable to
Euroclear and Clearstream on such Interest Payment Date upon delivery by Euroclear
and Clearstream to the Trustee of a certificate or certificates in the form set
forth in Exhibit A-2 to this Indenture (or in such other forms as may be
established pursuant to Section 301), for credit without further interest
on or after such Interest Payment Date to the respective accounts of Persons
who are the beneficial owners of such temporary global Security on such
Interest Payment Date and who have each delivered to Euroclear or Clearstream,
as the case may be, a certificate dated no earlier than 15 days prior to the
Interest Payment Date occurring prior to such Exchange Date in the form set
forth as Exhibit A-1 to this Indenture (or in such other forms as may be
established pursuant to Section 301). 
Notwithstanding anything to the contrary herein contained, the
certifications made pursuant to this paragraph shall satisfy the certification
requirements of the preceding two paragraphs of this Section 304(b) and
of the third paragraph of Section 303 of this Indenture and the interests
of the Persons who are the beneficial owners of the temporary global Security
with respect to which such certification was made will be exchanged for
definitive Securities of the same series and of like tenor on the Exchange Date
or the date of certification if such date occurs after the Exchange Date,
without further act or deed by such beneficial owners.  Except as otherwise provided in this
paragraph, no payments of principal (or premium, if any) or interest, if any,
owing with respect to a beneficial interest in a temporary global Security will
be made unless and until such interest in such temporary global Security shall
have been exchanged for an interest in a definitive Security.  Any interest so received by Euroclear and
Clearstream and not paid as herein provided shall be returned to the Trustee
prior to the expiration of two years after such Interest Payment Date in order
to be repaid to the Company.

 

Section 305                               Registration, Registration of
Transfer and Exchange. 
The Company shall cause to be kept at the Corporate Trust Office of the
Trustee or in any office or agency of the Company in a Place of Payment a
register for each series of Securities (the registers maintained in such office
or in any such office or agency of the Company in a Place of Payment being
herein sometimes referred to collectively as the “Security Register”) in which,
subject to such reasonable regulations as it may prescribe, the Company or the
Guarantor shall provide for the registration of Registered Securities and of
transfers of Registered Securities.  The
Security Register shall be in written form or any other form capable of being
converted into written form within a reasonable time.  The Trustee, at its Corporate Trust Office,
is hereby initially appointed 

 

29

 

“Security Registrar” for the purpose of registering Registered
Securities and transfers of Registered Securities on such Security Register as
herein provided.  In the event that the
Trustee shall cease to be Security Registrar, it shall have the right to
examine the Security Register at all reasonable times.

 

An up-to-date
copy of the Security Register shall be kept at the registered office of the
Company (the “Duplicate Security
Register”). For the avoidance of doubt, title to and transfer of
Registered Securities, shall as a matter of Luxembourg law, be determined by
registration in the Duplicate Security Register maintained by it.

 

Upon surrender for registration of transfer of any
Registered Security of any series at any office or agency of the Company in a
Place of Payment for that series, the Company shall execute, and the Guarantor
shall execute the Guarantee endorsed on, and 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, of any authorized denominations
and of a like aggregate principal amount, bearing a number not
contemporaneously outstanding and containing identical terms and provisions and
with the Guarantee endorsed thereon.

 

At the option of the Holder, Registered Securities of
any series may be exchanged for other Registered Securities of the same series,
of any authorized denomination or denominations and of a like aggregate
principal amount, containing identical terms and provisions and with the
Guarantee endorsed thereon, upon surrender of the Registered Securities to be
exchanged at any such office or agency. 
Whenever any Registered Securities are so surrendered for exchange, the
Company shall execute, and the Guarantor shall execute the Guarantee endorsed
thereon, and the Trustee shall authenticate and deliver, the Registered
Securities which the Holder making the exchange is entitled to receive.  Unless otherwise specified with respect to
any series of Securities as contemplated by Section 301 and subject to
applicable law, Bearer Securities may not be issued in exchange for Registered
Securities.

 

If permitted by the applicable Board Resolution or by
law and (subject to Section 303) set forth in the applicable Officers’
Certificate, or in any indenture supplemental hereto, delivered as contemplated
by Section 301, at the option of the Holder, Bearer Securities of any
series may be exchanged for Registered Securities of the same series of any
authorized denominations and of a like aggregate principal amount and tenor and
with the Guarantee endorsed thereon, upon surrender of the Bearer Securities to
be exchanged at any such office or agency, 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, any such permitted exchange may be effected if the Bearer Securities
are accompanied by payment in funds acceptable to the Company or the Guarantor,
as the case may be, 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 or the Guarantor, as the case may be, 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 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 

 

30

 

at an office or agency located outside the United
States.  Notwithstanding the foregoing,
in case a Bearer Security of any series is surrendered at any such office or
agency in a permitted exchange for a Registered Security of the same series and
like tenor and with the Guarantee endorsed thereon 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 proposed date for payment of Defaulted
Interest, such Bearer Security shall be surrendered without the coupon relating
to such Interest Payment Date or proposed date for payment, as the case may be,
and interest or Defaulted Interest, as the case may be, will 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 will be payable only to the Holder of such coupon when due in accordance
with the provisions of this Indenture.

 

Whenever any Securities are so surrendered for
exchange, the Company shall execute, and the Guarantor shall execute the
Guarantee noted or endorsed on, and the Trustee shall authenticate and deliver,
the Securities which the Holder making the exchange is entitled to receive.

 

Notwithstanding the foregoing, except as otherwise
specified as contemplated by Section 301, any permanent global Security
shall be exchangeable only as provided in this paragraph.  If any beneficial owner of an interest in a
permanent global Security is entitled to exchange such interest for Securities
of such series and of like tenor and principal amount of another authorized
form and denomination, as specified as contemplated by Section 301 and
provided that any applicable notice provided in the permanent global Security
shall have been given, then without unnecessary delay but in any event not
later than the earliest date on which such interest may be so exchanged, the
Company shall deliver to the Trustee definitive Securities in aggregate
principal amount equal to the principal amount of such beneficial owner’s
interest in such permanent global Security, executed by the Company and with
respect to the Guarantee endorsed thereon, the Guarantor.  On or after the earliest date on which such
interests may be so exchanged, such permanent global Security shall be
surrendered by the Common Depositary or such other depositary as shall be
specified in the Company Order with respect thereto to the Trustee, as the
Company’s agent for such purpose, to be exchanged, in whole or from time to time
in part, for definitive Securities of the same series without charge and the
Trustee shall authenticate and deliver, in exchange for each portion of such
permanent global Security, an equal aggregate principal amount of definitive
Securities of the same series of authorized denominations and of like tenor as
the portion of such permanent global Security to be exchanged which, unless the
Securities of the series are not issuable both as Bearer Securities and as
Registered Securities, as specified as contemplated by Section 301, shall
be in the form of Bearer Securities or Registered Securities, or any
combination thereof, as shall be specified by the beneficial owner thereof;
provided, however, that no such exchanges may occur during a period beginning
at the opening of business 15 days before any selection of Securities to be
redeemed and ending on the relevant Redemption Date if the Security for which
exchange is requested may be among those selected for redemption; and provided
further that no Bearer Security delivered in exchange for a portion of a
permanent 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 to
such other depositary or the Common Depositary, as the case may be, or such
depositary or Common Depositary referred to above in accordance 

 

31

 

with the instructions of the Company referred to
above.  If a Registered Security is
issued in exchange for any portion of a permanent global Security after the
close of business at the office or agency where such exchange occurs 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 proposed
date for payment of Defaulted Interest, interest or Defaulted Interest, as the
case may be, will 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
will 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 permanent global Security is payable in accordance with the provisions
of this Indenture.

 

All Securities issued upon any registration of
transfer or exchange of Securities, and the Guarantees, shall be valid
obligations of the Company and the Guarantor, respectively, evidencing the same
debt and entitled to the same benefits under this Indenture, as the Securities,
and the Guarantees thereof, 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) be duly endorsed, or be accompanied by a written
instrument of transfer in form satisfactory to the Company and the Security
Registrar, 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, but the Company or the Guarantor, as the
case may be, may require payment of a sum sufficient to cover any tax 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,
906, 1107 or 1305 not involving any transfer.

 

The Company shall not be required (i) to issue,
register the transfer of or exchange any Security, if such Security may be
among those selected for redemption during a period beginning at the opening of
business 15 days before selection of the Securities to be redeemed under Section 1103
and ending at the close of business on (A) if such Securities are issuable
only as Registered Securities, the day of the mailing of the relevant notice of
redemption and (B) if such Securities are issuable as Bearer Securities,
the day of the first publication of the relevant notice of redemption or, if
such Securities are also issuable as Registered Securities and there is no
publication, the mailing of the relevant notice of redemption, or (ii) to
register the transfer of or exchange any Registered Security so selected for
redemption in whole or in part, 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 that such a
Bearer Security may be exchanged for a Registered Security of that series and
like tenor, provided that such Registered Security shall be
simultaneously surrendered for redemption, or (iv) to issue, register the
transfer of or exchange any Security which has been surrendered for repayment
at the option of the Holder, 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 or the 

 

32

 

Company, together with, in proper cases, such security or indemnity as
may be required by the Company or the Trustee to save each of them or any agent
of either of them harmless, the Company shall execute, the Guarantor shall
execute the Guarantee endorsed on, and the Trustee shall authenticate and
deliver in exchange therefor a new Security of the same series and principal
amount, containing identical terms and provisions, having the Guarantee
endorsed thereon and bearing a number not contemporaneously outstanding, with
coupons corresponding to the coupons, if any, appertaining to the surrendered
Security.

 

If there shall be delivered to the Company, the
Guarantor and 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 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, the Guarantor or the Trustee that such Security or coupon has been
acquired by a bona fide purchaser, the Company shall execute and the Guarantor
shall execute the Guarantee endorsed on and, upon the Company’s or the
Guarantor’s request, as the case may be, the Trustee shall authenticate and
deliver, in lieu of any such 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 and principal amount, containing identical terms and provisions,
having the Guarantee endorsed thereon 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 provisions of the previous two
paragraphs, in case any such 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, with coupons corresponding
to the coupons, if any, appertaining to such mutilated, destroyed, lost or
stolen Security or to the Security to which such mutilated, destroyed, lost or
stolen coupon appertains, pay such Security or coupon; provided, however,
that payment of principal of (and premium, if any) and interest, if any, on
Bearer Securities shall, except as otherwise provided in Section 1002, be
payable only at an office or agency located outside the United States and,
unless otherwise specified as contemplated by Section 301, any interest on
Bearer Securities 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) connected
therewith.

 

Every new Security of any series with its coupons, if
any, 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, and the Guarantee thereof, shall constitute an original
additional contractual obligation of the Company and the Guarantor, whether or
not the destroyed, lost or stolen Security and its coupons, if any, 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 that series and their
coupons, if any, and Guarantees duly issued hereunder.

 

33

 

The provisions of this Section are 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; Interest
Rights Preserved; Optional Interest Reset.  (a)  Except as otherwise specified
with respect to a series of Securities in accordance with the provisions of Section 301,
interest and Additional Amounts, if any, on any Registered Security that are
payable, and are punctually paid or duly provided for, on any Interest Payment
Date shall be paid to the Person in whose name that Security (or one or more
Predecessor Securities) is registered at the close of business on the Regular
Record Date for such interest at the office or agency of the Company maintained
for such purpose pursuant to Section 1002; provided, however,
that each installment of interest, if any, on any Registered Security, other
than a global Security on an Interest Payment Date, may at the Company’s option
be paid by (i) mailing a check for such interest, payable to or upon the
written order of the Person entitled thereto pursuant to Section 309, to
the address of such Person as it appears on the Security Register or (ii) transfer
to an account maintained by the payee inside the United States.

 

Unless otherwise provided as contemplated by Section 301
with respect to the Securities of any series, payment of interest, if any, may
be made, in the case of a Bearer Security, by transfer to an account maintained
by the payee with a bank located outside the United States.

 

Unless otherwise provided as contemplated by Section 301,
every permanent global Security will provide that interest, if any, payable on
any Interest Payment Date will be paid to each of Euroclear and Clearstream
with respect to that portion of such permanent global Security held for its
account by the Common Depositary, for the purpose of permitting each of
Euroclear and Clearstream to credit the interest, if any, received by it in
respect of such permanent global Security to the accounts of the beneficial
owners thereof.

 

In case a Bearer Security of any series is surrendered
in exchange for a Registered Security of such series after the close of
business (at an office or agency in a Place of Payment for such series) on any
Regular Record Date and before the opening of business (at such office or agency)
on the next succeeding Interest Payment Date, such Bearer Security shall be
surrendered without the coupon relating to such Interest Payment Date and
interest will not be payable on such Interest Payment Date in respect of the
Registered Security issued in exchange for such Bearer Security, but will be
payable only to the Holder of such coupon when due in accordance with the
provisions of this Indenture.

 

Except as otherwise specified with respect to a series
of Securities in accordance with the provisions of Section 301, any
interest on any Registered Security of any series that is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date (herein
called “Defaulted Interest”) shall forthwith cease to be payable to the registered
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 or the
Guarantor at its election in each case, as provided in clause (1) or (2) below:

 

(1)  The Company or the Guarantor may elect to make payment
of any Defaulted Interest to the Persons in whose names the Registered
Securities of such series (or 

 

34

 

their respective Predecessor Securities) are registered at the close of
business on a Special Record Date for the payment of such Defaulted Interest,
which shall be fixed in the following manner. 
The Company or the Guarantor shall notify the Trustee in writing of the
amount of Defaulted Interest proposed to be paid on each Registered Security of
such series and the date of the proposed payment (which shall not be less than
20 days after such notice is received by the Trustee), and at the same time the
Company or the Guarantor, as the case may be, shall deposit with the Trustee an
amount of money in the Currency in which the Securities of such series are
payable (except as otherwise specified pursuant to Section 301 for the
Securities of such series and except, if applicable, as provided in
Sections 312(b), 312(d) and 312(e)) 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 deposited to be held in trust for
the benefit of the Persons entitled to such Defaulted Interest as in this
clause provided.  Thereupon the Trustee
shall fix a Special Record Date for the payment of such Defaulted Interest
which shall 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. 
The Trustee shall promptly notify the Company and the Guarantor, as the
case may be, of such Special Record Date and, in the name and at the expense of
the Company or the Guarantor, as the case may be, shall cause notice of the
proposed payment of such Defaulted Interest and the Special Record Date
therefor to be mailed, first-class postage prepaid, to each Holder of
Registered Securities of such series 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 Persons in whose names
the Registered Securities of such series (or their respective Predecessor
Securities) are 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 of any series is
surrendered at the office or agency in a Place of Payment for such series in
exchange for a Registered Security of such series 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 proposed date of payment and Defaulted Interest will
not be payable on such proposed date of payment in respect of the Registered
Security issued in exchange for such Bearer Security, but will be payable only
to the Holder of such coupon when due in accordance with the provisions of this
Indenture.

 

(2)  The Company or the Guarantor may make payment of any
Defaulted Interest on the Registered Securities of any series in any other
lawful manner not inconsistent with the requirements of any securities exchange
on which such Securities may be listed, and upon such notice as may be required
by such exchange, if, after notice given by the Company or the Guarantor, as
the case may 

 

35

 

be, to the Trustee of the proposed payment pursuant to this clause,
such manner of payment shall be deemed practicable by the Trustee.

 

(b)  The provisions of this Section 307(b) may
be made applicable to any series of Securities pursuant to Section 301
(with such modifications, additions or substitutions as may be specified
pursuant to such Section 301).  The
interest rate (or the spread or spread multiplier used to calculate such
interest rate, if applicable) on any Security of such series may be reset by
the Company or the Guarantor, as the case may be, on the date or dates
specified on the face of such Security (each an “Optional Reset Date”).  The Company or the Guarantor, as the case may
be, may exercise such option with respect to such Security by notifying the
Trustee of such exercise at least 45 but not more than 60 days prior to an
Optional Reset Date for such Security. 
Not later than 40 days prior to each Optional Reset Date, the Trustee
shall transmit, in the manner provided for in Section 106, to the Holder
of any such Security a notice (the “Reset Notice”) indicating whether the
Company or the Guarantor, as the case may be, has elected to reset the interest
rate (or the spread or spread multiplier used to calculate such interest rate,
if applicable), and if so (i) such new interest rate (or such new spread
or spread multiplier, if applicable) and (ii) the provisions, if any, for
redemption during the period from such Optional Reset Date to the next Optional
Reset Date or if there is no such next Optional Reset Date, to the Stated
Maturity of such Security (each such period a “Subsequent Interest Period”),
including the date or dates on which or the period or periods during which and
the price or prices at which such redemption may occur during the Subsequent
Interest Period.

 

Notwithstanding the foregoing, not later than 20 days
prior to the Optional Reset Date, the Company or the Guarantor, as the case may
be, may, at its option, revoke the interest rate (or the spread or spread
multiplier used to calculate such interest rate, if applicable) provided for in
the Reset Notice and establish an interest rate (or a spread or spread
multiplier used to calculate such interest rate, if applicable) that is higher
than the interest rate (or the spread or spread multiplier, if applicable)
provided for in the Reset Notice, for the Subsequent Interest Period by causing
the Trustee to transmit, in the manner provided for in Section 106, notice
of such higher interest rate (or such higher spread or spread multiplier, if
applicable) to the Holder of such Security. 
Such notice shall be irrevocable. 
All Securities with respect to which the interest rate (or the spread or
spread multiplier used to calculate such interest rate, if applicable) is reset
on an Optional Reset Date, and with respect to which the Holders of such
Securities have not tendered such Securities for repayment (or have validly
revoked any such tender) pursuant to the next succeeding paragraph, will bear
such higher interest rate (or such higher spread or spread multiplier, if
applicable).

 

The Holder of any such Security will have the option
to elect repayment by the Company of the principal of such Security on each
Optional Reset Date at a price equal to the principal amount thereof plus
interest accrued to such Optional Reset Date. 
In order to obtain repayment on an Optional Reset Date, the Holder must
follow the procedures set forth in Article XIII for repayment at the
option of Holders except that the period for delivery or notification to the
Trustee shall be at least 25 but not more than 35 days prior to such Optional
Reset Date and except that, if the Holder has tendered any Security for
repayment pursuant to the Reset Notice, the Holder may, by written notice to
the Trustee, revoke such tender or repayment until the close of business on the
tenth day before such Optional Reset Date.

 

36

 

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                               Optional Extension of Maturity.  The provisions of this Section 308
may be made applicable to any series of Securities pursuant to Section 301
(with such modifications, additions or substitutions as may be specified
pursuant to such Section 301).  The
Stated Maturity of any Security of such series may be extended at the option of
the Company or the Guarantor for the period or periods specified on the face of
such Security (each an “Extension Period”) up to but not beyond the date (the “Final
Maturity”) set forth on the face of such Security.  The Company or the Guarantor may exercise
such option with respect to any Security by notifying the Trustee of such
exercise at least 45 but not more than 60 days prior to the Stated Maturity of
such Security in effect prior to the exercise of such option (the “Original
Stated Maturity”).  If the Company or the
Guarantor exercises such option, the Trustee shall transmit, on behalf of and
at the request and expense of the Company, in the manner provided for in Section 106,
to the Holder of such Security not later than 40 days prior to the Original
Stated Maturity a notice (the “Extension Notice”) indicating (i) the
election of the Company or the Guarantor to extend the Stated Maturity, (ii) the
new Stated Maturity, (iii) the interest rate, if any, applicable to the
Extension Period and (iv) the provisions, if any, for redemption during
such Extension Period.  Upon the Trustee’s
transmittal of the Extension Notice, the Stated Maturity of such Security shall
be extended automatically and, except as modified by the Extension Notice and
as described in the next paragraph, such Security will have the same terms as
prior to the transmittal of such Extension Notice.

 

Notwithstanding the foregoing, not later than 20 days
before the Original Stated Maturity of such Security, the Company or the Guarantor
may, at its option, revoke the interest rate provided for in the Extension
Notice and establish a higher interest rate for the Extension Period by causing
the Trustee to transmit, in the manner provided for in Section 106, notice
of such higher interest rate (or such higher spread or spread multiplier, if
applicable) to the Holder of such Security. 
Such notice shall be irrevocable. 
All Securities with respect to which the Stated Maturity is extended
will bear such higher interest rate.

 

If the Company or the Guarantor extends the Stated
Maturity of any Security, the Holder will have the option to elect repayment of
such Security by the Company on the Original Stated Maturity at a price equal
to the principal amount thereof, plus interest accrued to such date.  In order to obtain repayment on the Original
Stated Maturity once the Company or the Guarantor has extended the Stated
Maturity thereof, the Holder must follow the procedures set forth in Article XIII
for repayment at the option of Holders, except that the period for delivery or
notification to the Trustee shall be at least 25 but not more than 35 days
prior to the Original Stated Maturity and except that, if the Holder has
tendered any Security for repayment pursuant to an Extension Notice, the Holder
may by written notice to the Trustee revoke such tender for repayment until the
close of business on the tenth day before the Original Stated Maturity.

 

Section 309                               Persons Deemed Owners.  Prior to due presentment of a
Registered Security for registration of transfer, the Company, the Guarantor,
the Trustee and any agent of the Company, the Guarantor or the Trustee shall
treat the Person in whose name such Registered Security is

 

37

 

registered as the owner of such Security for the purpose of receiving
payment of principal of (and premium, if any) and (subject to Sections 305
and 307) interest, if any, on such Registered Security and for all other
purposes whatsoever, whether or not such Registered Security be overdue, and
none of the Company, the Guarantor, the Trustee or any agent of the Company,
the Guarantor or the Trustee shall be affected by notice to the contrary.

 

Title
to any Bearer Security and any coupons appertaining thereto shall pass by
delivery.  The Company, the Guarantor,
the Trustee and any agent of the Company, the Guarantor or the Trustee shall
treat the bearer of any Bearer Security and the bearer of any coupon as the
absolute owner of such Bearer Security or coupon for the purpose of receiving
payment thereof or on account thereof and for all other purposes whatsoever,
whether or not such Bearer Security or coupon be overdue, and none of the
Company, the Guarantor, the Trustee or any agent of the Company, the Guarantor,
or the Trustee shall be affected by notice to the contrary.

 

None
of the Company, the Guarantor, the Trustee, any Paying Agent or the Security
Registrar 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 Security in global form or for maintaining, supervising or
reviewing any records relating to such beneficial ownership interests.

 

Notwithstanding
the foregoing, with respect to any global Security, nothing herein shall
prevent the Company, the Guarantor, the Trustee or any agent of the Company,
the Guarantor or the Trustee, from giving effect to any written certification,
proxy or other authorization furnished by any depositary, as a Holder, with
respect to such global Security or impair, as between such depositary and
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 Holder of such global Security.

 

Section 310          Cancellation. 
All Securities and coupons surrendered for payment, redemption,
repayment at the option of the Holder, registration of transfer or exchange or
for credit against any sinking fund payment shall, if surrendered to any Person
other than the Trustee, be delivered to the Trustee, and any such Securities
and coupons and Securities and coupons surrendered directly to the Trustee for
any such purpose shall be promptly cancelled by it.  The Company or the Guarantor may at any time
deliver to the Trustee for cancellation any Securities previously authenticated
and delivered hereunder which the Company or the Guarantor may have acquired in
any manner whatsoever, and may deliver to the Trustee (or to any other Person
for delivery to the Trustee) for cancellation any Securities previously
authenticated hereunder which the Company or the Guarantor has not issued and
sold, and all Securities so delivered shall be promptly cancelled by the
Trustee.  If the Company or the Guarantor
shall so acquire any of the Securities, however, such acquisition shall not
operate as a redemption or satisfaction of the indebtedness represented by such
Securities unless and until the same are surrendered to the Trustee for
cancellation.  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 this Indenture.  Cancelled Securities and coupons held by the
Trustee shall be destroyed by the Trustee and the Trustee shall deliver a
certificate of such destruction to the Company unless, by a Company Order or a
Guarantor Order, the Company or Guarantor directs their return to it.

 

38

 

Section 311          Computation of Interest.  Except as otherwise specified as contemplated
by Section 301 with respect to Securities of any series, interest, if
any,  on the Securities of each series
shall be computed on the basis of a 360-day year consisting of twelve 30-day
months.

 

Section 312          Currency and Manner of Payments in Respect of Securities.  (a)  Unless otherwise
specified with respect to any Securities pursuant to Section 301, with
respect to Registered Securities of any series not permitting the election
provided for in paragraph (b) below or the Holders of which have not
made the election provided for in paragraph (b) below, and with
respect to Bearer Securities of any series, except as provided in
paragraph (d) below, payment of the principal of (and premium, if
any) and interest, if any, on any Registered Security or Bearer Security of
such series will be made in the Currency in which such Registered Security or
Bearer Security, as the case may be, is payable.  The provisions of this Section 312 may
be modified or superseded with respect to any Securities pursuant to Section 301.

 

(b)   It may be provided pursuant to Section 301 with respect
to Registered Securities of any series that Holders shall have the option,
subject to paragraphs (d) and (e) below, to receive payments of
principal of (or premium, if any) or interest, if any, on such Registered
Securities in any of the Currencies which may be designated for such election
by delivering to the Trustee for such series of Registered Securities a written
election with signature guarantees and in the applicable form established
pursuant to Section 301, not later than the close of business on the
Election Date immediately preceding the applicable payment date.  If a Holder so elects to receive such
payments in any such Currency, such election will remain in effect for such
Holder or any transferee of such Holder until changed by such Holder or such
transferee by written notice to the Trustee for such series of Registered
Securities (but any such change must be made not later than the close of
business on the Election Date immediately preceding the next payment date to be
effective for the payment to be made on such payment date and no such change of
election may be made with respect to payments to be made on any Registered
Security of such series with respect to which an Event of Default has occurred
or with respect to which the Company or the Guarantor has deposited funds
pursuant to Article IV or XIV or with respect to which a notice of
redemption has been given by the Company or the Guarantor or a notice of option
to elect repayment has been sent by such Holder or such transferee).  Any Holder of any such Registered Security
who shall not have delivered any such election to the Trustee of such series of
Registered Securities not later than the close of business on the applicable
Election Date will be paid the amount due on the applicable payment date in the
relevant Currency as provided in Section 312(a).  The Trustee for each such series of
Registered Securities shall notify the Exchange Rate Agent as soon as
practicable after the Election Date of the aggregate principal amount of
Registered Securities for which Holders have made such written election.

 

(c)   Unless otherwise specified pursuant to Section 301, if
the election referred to in paragraph (b) above has been provided for
pursuant to Section 301, then, unless otherwise specified pursuant to Section 301,
not later than the fourth Business Day after the Election Date for each payment
date for Registered Securities of any series, the Exchange Rate Agent will
deliver to the Company and the Guarantor a written notice specifying the
Currency in which Registered Securities of such series are payable, the
respective aggregate amounts of principal of (and premium, if any) and
interest, if any, on the Registered Securities to be paid on such payment date,
specifying the amounts in such Currency so payable in respect of the Registered
Securities as to which the Holders of Registered Securities denominated in any
Currency shall 

 

39

 

have elected to be paid in another Currency as provided in
paragraph (b) above.  If the
election referred to in paragraph (b) above has been provided for
pursuant to Section 301 and if at least one Holder has made such election,
then, unless otherwise specified pursuant to Section 301, on the second
Business Day preceding such payment date the Company and the Guarantor will
deliver to the Trustee for such series of Registered Securities an Exchange
Rate Officer’s Certificate in respect of the Dollar or Foreign Currency or
Currencies payments to be made on such payment date.  Unless otherwise specified pursuant to Section 301,
the Dollar or Foreign Currency or Currencies amount receivable by Holders of
Registered Securities who have elected payment in a Currency as provided in
paragraph (b) above shall be determined by the Company or the
Guarantor on the basis of the applicable Market Exchange Rate in effect on the
second Business Day (the “Valuation Date”) immediately preceding each payment
date, and such determination shall be conclusive and binding for all purposes,
absent manifest error.

 

(d)   If a Conversion Event occurs with respect to a Foreign
Currency in which any of the Securities are denominated or payable other than
pursuant to an election provided for pursuant to paragraph (b) above,
then with respect to each date for the payment of principal of (and premium, if
any) and interest, if any on the applicable Securities denominated or payable
in such Foreign Currency occurring after the last date on which such Foreign
Currency was used (the “Conversion Date”), the Dollar shall be the currency of
payment for use on each such payment date. 
Unless otherwise specified pursuant to Section 301, the Dollar
amount to be paid by the Company or the Guarantor to the Trustee of each such
series of Securities and by such Trustee or any Paying Agent to the Holders of
such Securities with respect to such payment date shall be, in the case of a
Foreign Currency other than a currency unit, the Dollar Equivalent of the
Foreign Currency or, in the case of a currency unit, the Dollar Equivalent of
the Currency Unit, in each case as determined by the Exchange Rate Agent in the
manner provided in paragraph (f) or (g) below.

 

(e)   Unless otherwise specified pursuant to Section 301, if
the Holder of a Registered Security denominated in any Currency shall have
elected to be paid in another Currency as provided in paragraph (b) above,
and a Conversion Event occurs with respect to such elected Currency, such
Holder shall receive payment in the Currency in which payment would have been
made in the absence of such election; and if a Conversion Event occurs with
respect to the Currency in which payment would have been made in the absence of
such election, such Holder shall receive payment in Dollars as provided in
paragraph (d) of this Section 312.

 

(f)    The “Dollar Equivalent of the Foreign Currency” shall be
determined by the Exchange Rate Agent and shall be obtained for each subsequent
payment date by converting the specified Foreign Currency into Dollars at the
Market Exchange Rate on the Conversion Date.

 

(g)   The “Dollar Equivalent of the Currency Unit” shall be
determined by the Exchange Rate Agent and subject to the provisions of
paragraph (h) below shall be the sum of each amount obtained by
converting the Specified Amount of each Component Currency into Dollars at the
Market Exchange Rate for such Component Currency on the Valuation Date with
respect to each payment.

 

(h)   For purposes of this Section 312, the following terms
shall have the following meanings:

 

40

 

A “Component
Currency” shall mean any currency which, on the Conversion Date, was a
component currency of the relevant currency unit.

 

“Election Date”
shall mean the Regular Record Date for the applicable series of Registered
Securities or at least 16 days prior to Maturity, as the case may be, or such
other prior date for any series of Registered Securities as specified pursuant
to clause 13 of Section 301 by which the written election referred to
in Section 312(b) may be made.

 

A “Specified
Amount” of a Component Currency shall mean the number of units of such
Component Currency or fractions thereof which were represented in the relevant
currency unit, on the Conversion Date. 
If after the Conversion Date the official unit of any Component Currency
is altered by way of combination or subdivision, the Specified Amount of such
Component Currency shall be divided or multiplied in the same proportion.  If after the Conversion Date two or more
Component Currencies are consolidated into a single currency, the respective
Specified Amounts of such Component Currencies shall be replaced by an amount
in such single currency equal to the sum of the respective Specified Amounts of
such consolidated Component Currencies expressed in such single currency, and
such amount shall thereafter be a Specified Amount and such single currency
shall thereafter be a Component Currency. 
If after the Conversion Date any Component Currency shall be divided
into two or more currencies, the Specified Amount of such Component Currency
shall be replaced by amounts of such two or more currencies, having an
aggregate Dollar Equivalent value at the Market Exchange Rate on the date of
such replacement equal to the Dollar Equivalent of the Specified Amount of such
former Component Currency at the Market Exchange Rate immediately before such
division, and such amounts shall thereafter be Specified Amounts and such
currencies shall thereafter be Component Currencies.  If, after the Conversion Date of the relevant
currency unit, including, a Conversion Event (other than any event referred to
above in this definition of “Specified Amount”) occurs with respect to any
Component Currency of such currency unit and is continuing on the applicable
Valuation Date, the Specified Amount of such Component Currency shall, for
purposes of calculating the Dollar Equivalent of the Currency Unit, be
converted into Dollars at the Market Exchange Rate in effect on the Conversion
Date of such Component Currency.

 

All
decisions and determinations of the Exchange Rate Agent regarding the Dollar
Equivalent of the Foreign Currency, the Dollar Equivalent of the Currency Unit,
the Market Exchange Rate and changes in the Specified Amounts as specified
above shall be in its sole discretion and shall, in the absence of manifest
error, be conclusive for all purposes and irrevocably binding upon the Company,
the Guarantor, the Trustee for the appropriate series of Securities and all
Holders of such Securities denominated or payable in the relevant
Currency.  The Exchange Rate Agent shall
promptly give written notice to the Company, the Guarantor and the Trustee for
the appropriate series of Securities of any such decision or determination.

 

41

 

In the
event that the Company or the Guarantor determines in good faith that a
Conversion Event has occurred with respect to a Foreign Currency, the Company
or the Guarantor, as applicable, will immediately give written notice thereof
to the Trustee of the appropriate series of Securities and to the Exchange Rate
Agent (and such Trustee will promptly thereafter give notice in the manner
provided in Section 106 to the affected Holders) specifying the Conversion
Date.  In the event the Company or the
Guarantor so determines that a Conversion Event has occurred with respect to
the Euro or any other currency unit in which Securities are denominated or
payable, the Company or the Guarantor, as applicable, will immediately give
written notice thereof to the Trustee of the appropriate series of Securities
and to the Exchange Rate Agent (and such Trustee will promptly thereafter give
notice in the manner provided in Section 106 to the affected Holders)
specifying the Conversion Date and the Specified Amount of each Component
Currency on the Conversion Date.  In the
event the Company or the Guarantor determines in good faith that any subsequent
change in any Component Currency as set forth in the definition of Specified
Amount above has occurred, the Company or the Guarantor, as applicable, will
similarly give written notice to the Trustee of the appropriate series of
Securities and to the Exchange Rate Agent.

 

The
Trustee of the appropriate series of Securities shall be fully justified and
protected in relying and acting upon information received by it from the
Company, the Guarantor and the Exchange Rate Agent and shall not otherwise have
any duty or obligation to determine the accuracy or validity of such
information independent of the Company, the Guarantor or the Exchange Rate
Agent.

 

Section 313          Appointment and Resignation of Successor Exchange Rate
Agent.  (a) 
Unless otherwise specified pursuant to Section 301, if and so long as the
Securities of any series (i) are denominated in a Foreign Currency or
(ii) may be payable in a Foreign Currency, or so long as it is required
under any other provision of this Indenture, then the Company will maintain
with respect to each such series of Securities, or as so required, at least one
Exchange Rate Agent.  The Company will
cause the Exchange Rate Agent to make the necessary foreign exchange
determinations at the time and in the manner specified pursuant to Section 301
for the purpose of determining the applicable rate of exchange and, if
applicable, for the purpose of converting the denominated Foreign Currency into
the applicable payment Currency for the payment of principal (and premium, if
any) and interest, if any, pursuant to Section 312.

 

(b)   No resignation of the Exchange Rate Agent and no appointment
of a successor Exchange Rate Agent pursuant to this Section shall become
effective until the acceptance of appointment by the successor Exchange Rate
Agent as evidenced by a written instrument delivered to the Company, the
Guarantor and the Trustee of the appropriate series of Securities accepting
such appointment executed by the successor Exchange Rate Agent.

 

(c)   If the Exchange Rate Agent shall resign, be removed or
become incapable of acting, or if a vacancy shall occur in the office of the
Exchange Rate Agent 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 Exchange Rate Agent or Exchange Rate Agents with respect to
the Securities of that or those series (it being understood that any such
successor Exchange Rate Agent may be appointed with respect to the Securities
of one or more or all of such series and that, unless otherwise specified pursuant
to Section 301, at any time there shall only be one 

 

42

 

Exchange Rate Agent with respect to the Securities of any particular
series that are originally issued by the Company on the same date and that are
initially denominated and/or payable in the same Currency).

 

Section 314          CUSIP Numbers. 
The Company in issuing the Securities may use “CUSIP” or “ISIN” numbers
(if then generally in use), and, if so, the Trustee shall indicate the “CUSIP”
or “ISIN” numbers of the Securities 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 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.

 

ARTICLE IV
 

SATISFACTION
AND DISCHARGE

 

Section 401          Satisfaction and Discharge of Indenture.  This Indenture shall upon Company
Request or Guarantor Request cease to be of further effect with respect to any
series of Securities specified in such Company Request or Guarantor Request
(except as to any surviving rights of registration of transfer or exchange of
Securities of such series expressly provided for herein or pursuant hereto),
and the Trustee, upon receipt of a Company Order or Guarantor Order, and at the
expense of the Company and the Guarantor, 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, if any, appertaining thereto (other than (i) coupons appertaining
to Bearer Securities surrendered for exchange for Registered Securities 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 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 or the Guarantor and thereafter repaid to the Company or the Guarantor,
as the case may be, 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, any
coupons appertaining thereto not theretofore delivered to the Trustee for
cancellation:

 

(i)            have
become due and payable, or

 

43

 

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

 

(iii)          if
redeemable at the option of the Company, are to be called for redemption within
one year under arrangements 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 Guarantor,

 

and the Company or the
Guarantor, in the case of (i), (ii) or (iii) above, has irrevocably
deposited or caused to be deposited with the Trustee as trust funds in trust
for such purpose an amount in the Currency in which the Securities of such
series are payable, sufficient to pay and discharge the entire indebtedness on
such Securities and such coupons not theretofore delivered to the Trustee for
cancellation, for principal (and premium, if any) and interest and Additional
Amounts, if any, to the date of such deposit (in the case of Securities which
have become due and payable) or to the Stated Maturity or Redemption Date, as
the case may be;

 

(2)   the
Company or the Guarantor has paid or caused to be paid all other sums payable
hereunder by the Company and the Guarantor; and

 

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

 

Notwithstanding the satisfaction and discharge of this
Indenture, the obligations of the Company and the Guarantor to the Trustee and
any predecessor Trustee under Section 607, the obligations of the Company
and the Guarantor to any Authenticating Agent under Section 612 and, if
money shall have been deposited with the Trustee pursuant to subclause (B) of
clause (1) of this Section, the obligations of the Trustee under Section 402,
any rights to Additional Amounts pursuant to Section 1004 and the last
paragraph of Section 1003 shall survive.

 

Section 402          Application of Trust Funds.  Subject to the provisions of the last
paragraph of Section 1003, all money deposited with the Trustee pursuant
to Section 401 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, or authorizing the Guarantor to act as, Paying Agent) as the
Trustee may determine, to the Persons entitled thereto, of the principal (and
premium, if any) and interest, if any, for whose payment such money has been
deposited with or received by the Trustee, but such money need not be
segregated from other funds except to the extent required by law.

 

ARTICLE V
 

REMEDIES

 

Section 501          Events of Default.  “Event of Default”, wherever used herein with
respect to any particular series of Securities, means any one of the following
events (whatever the reason for 

 

44

 

such Event of Default and whether or not it shall be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

 

(1)   default
in the payment of any interest or any Additional Amounts upon any Security of
that series or of any coupon appertaining thereto, when such interest or coupon
becomes due and payable, and continuance of such default for a period of 30
days; or

 

(2)   default
in the payment of the principal of (or premium, if any, on) any Security of
that series when it becomes due and payable at its Maturity; or

 

(3)   default
in the deposit of any sinking fund payment, when and as due by the terms of any
Security of that series; or

 

(4)   default
in the performance, or breach, of any covenant or agreement of the Company or
the Guarantor in this Indenture with respect to any Security of that series or,
as the case may require, the Guarantee endorsed thereon (other than a covenant
or agreement a default in whose performance or whose breach is elsewhere in
this Section specifically dealt with), and continuance of such default or
breach for a period of 60 days after there has been given, by registered or
certified mail, to the Company and the Guarantor by the Trustee, or to the
Company, the Guarantor and the Trustee by the Holders of at least 25% in
principal amount of the Outstanding Securities of that 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)   the Guarantee, if any, applicable to the Securities of that series
ceases to be in full force and effect or the Guarantor denies that it has any
further liability under its Guarantee to the Holders of Securities of that
series, or has given notice to such effect (other than by reason of the release
of any such Guarantee in accordance with this Indenture), and such condition
shall have continued for a period of 30 days after written notice to the
Company and Guarantor by the Trustee or to the Company, the Guarantor and the
Trustee by the Holders of a least 25% in principal amount of the Outstanding
Securities of that series; or

 

(6)   the
Company or the Guarantor pursuant to or within the meaning of any Bankruptcy
Law:

 

(A)  commences
a voluntary case,

 

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

 

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

 

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

 

(E)   takes
any action which under applicable law has a substantially similar effect; or

 

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

 

(A)  is
for relief against the Company or the Guarantor in an involuntary case,

 

45

 

(B)   appoints
a Custodian of the Company or the Guarantor or for all or substantially all of
either of their respective properties,

 

(C)   orders
the liquidation of the Company or the Guarantor, or

 

(D)  adopts
any other measures which under applicable law have a substantially similar
effect,

 

and the order or decree or
other measures remains unstayed and in effect for 90 days; or

 

(8)   any
other Event of Default provided with respect to Securities of that series as
specified and contemplated by Section 301.

 

The term “Bankruptcy Law” means title 11, U.S.
Code or any similar Federal or State law for the relief of debtors.  The term “Custodian” means any receiver,
trustee, assignee, liquidator or other similar official under any Bankruptcy
Law.

 

Section 502          Acceleration of Maturity; Rescission and Annulment.  If an Event of Default described
in clause (1), (2), (3), (4), (5) and (8) of Section 501 with respect to
Securities of any series at the time Outstanding occurs and is continuing, then
and in every such case the Trustee or the Holders of not less than 25% in
principal amount of the Outstanding Securities of that series may declare the
principal (or, if any Securities are Original Issue Discount Securities or
Indexed Securities, such portion of the principal as may be specified in the
terms thereof) of all the Securities of that series to be due and payable
immediately, by a notice in writing to the Company and the Guarantor (and to
the Trustee if given by the Holders), and upon any such declaration such
principal or specified portion thereof shall become immediately due and
payable.

 

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

 

(1)   the
Company or the Guarantor has paid or deposited with the Trustee a sum
sufficient to pay in the Currency in which the Securities of such series are
payable (except as otherwise specified pursuant to Section 301 for the
Securities of such series and except, if applicable, as provided in
Sections 312(b), 312(d) and 312(e)):

 

(A)  all
overdue installments of interest and Additional Amounts, if any, on all
Outstanding Securities of that series and any related coupons,

 

(B)   the
principal of (and premium, if any, on) all Outstanding Securities of that
series which have become due otherwise than by such declaration of acceleration
and interest thereon at the rate or rates borne by or provided for in such
Securities,

 

46

 

(C)   to
the extent that payment of such interest is lawful, interest upon overdue
installments of interest at the rate or rates borne by or provided for in such
Securities, and

 

(D)  all
sums paid or advanced by the Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel;
and

 

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

 

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

 

If an Event of Default described in clause (6) or (7)
occurs and is continuing, then the principal amounts (or, if the Securities of
that series are Original Issue Discount Securities or Indexed Securities, such
portion of the principal amount as may be specified in the terms of that
series) of all the Securities then Outstanding, together with any accrued
interest through the occurrence of such Event of Default, shall become and be
due and payable immediately, without any declaration or other act by the
Trustee or any other Holder.

 

Section 503          Collection of Indebtedness and Suits for Enforcement by
Trustee.  The
Company and the Guarantor covenant that if:

 

(1)   default
is made in the payment of any installment of interest and Additional Amounts on
any Security of any series and any related coupon when such interest becomes
due and payable and such default continues for a period of 30 days, or

 

(2)   default
is made in the payment of the principal of (or premium, if any, on) any
Security of any series at its Maturity,

 

then the Company or the Guarantor will, upon demand of
the Trustee, pay to the Trustee, for the benefit of the Holders of Securities
of such series and coupons, the whole amount then due and payable on such
Securities and coupons for principal (and premium, if any) and interest, if
any, with interest upon any overdue principal (and premium, if any) and, to the
extent that payment of such interest shall be legally enforceable, upon any
overdue installments of interest, if any, at the rate or rates borne by or
provided for in such Securities, and, in addition thereto, such further amount
as shall be sufficient to cover the costs and expenses of collection, including
the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel.

 

If the
Company or the Guarantor fails to pay such amounts forthwith upon such demand,
the Trustee, in its own name and as trustee of an express trust, may institute
a judicial proceeding for the collection of the sums so due and unpaid, and may
prosecute such proceeding to judgment or final decree, and may enforce the same
against the Company, the Guarantor or any other obligor upon Securities of such
series and collect the moneys adjudged or decreed to be payable in the manner
provided by law out of the property of the Company, the Guarantor or any other
obligor upon Securities of such series, wherever situated.

 

If an
Event of Default with respect to Securities of any series occurs and is
continuing, the Trustee may in its discretion proceed to protect and enforce
its rights and the rights of the Holders of Securities of such series and any
related coupons by such appropriate judicial proceedings as the Trustee shall
deem most effectual to protect and enforce any such rights, 

 

47

 

whether for the specific enforcement of any covenant
or agreement in this Indenture or in aid of the exercise of any power granted
herein, 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 relative to the Company,
the Guarantor or any other obligor upon the Securities or the property of the
Company, the Guarantor or of such other obligor or their creditors, the Trustee
(irrespective of whether the principal of the Securities of any series 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
or the Guarantor for the payment of any overdue principal, premium or interest)
shall be entitled and empowered, by intervention in such proceeding or
otherwise:

 

(i)            to
file and prove a claim for the whole amount of principal (or in the case of
Original Issue Discount Securities or Indexed Securities, such portion of the
principal as may be provided in the terms thereof) (and premium, if any) and
interest, if any, owing and unpaid in respect of the Securities 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, its agents and counsel)
and of the Holders allowed in such judicial proceeding, and

 

(ii)           to
collect and receive any moneys 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 of such series and
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, to pay to
the Trustee any amount due to it for the reasonable compensation, expenses,
disbursements and advances of the Trustee and any predecessor Trustee, their
agents and counsel, and any other amounts due the Trustee or any predecessor
Trustee under Section 607.

 

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 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
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 or the Guarantees 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 of judgment shall, after provision for the
payment of the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel, be 

 

48

 

for the ratable benefit of the Holders of the Securities and coupons 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 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 premium, if any) or interest, if any,
upon presentation of the Securities or coupons, 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
and any predecessor Trustee under Section 607;

 

SECOND:  To the payment of the amounts then due and
unpaid upon the Securities and coupons for principal (and premium, if any) and
interest, if any, 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 premium, if any) and interest, if any, respectively;
and

 

THIRD:  To the payment of the remainder, if any, to
the Company or any other Person or Persons entitled thereto.

 

Section 507          Limitation
on Suits.  No Holder of any Security of any
series or any related coupon 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 that series;

 

(2)   the
Holders of not less than 25% in principal amount of the Outstanding Securities
of that 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 reasonable indemnity against the
costs, expenses and liabilities to be incurred in compliance with such request;

 

(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 principal amount of
the Outstanding Securities of that series;

 

it being understood and intended that no one or more
of such Holders shall have any right in any manner whatever by virtue of, or by
availing of, any provision of this Indenture to affect, disturb 

 

49

 

or prejudice the rights of any other of such Holders,
or to obtain or to seek to obtain priority or preference over any other of such
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, Premium
and Interest. 
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 such Security or payment of
such coupon, as the case may be, on the respective due dates expressed in such
Security or coupon (or, in the case of redemption or repayment on the
Redemption Date or the Repayment Date, as the case may be) and to institute
suit for the enforcement of any such payment, and such rights 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 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 Guarantor, the Trustee and the
Holders of Securities and coupons 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 the Holders
shall continue as though no such proceeding had been instituted.

 

Section 510          Rights and Remedies Cumulative.  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 the Holders of
Securities or coupons is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative
and in addition to every other right and remedy given hereunder or now or
hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or
remedy hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy.

 

Section 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 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 the Holders may be exercised from time to time, and
as often as may be deemed expedient, by the Trustee or by the Holders of
Securities or coupons, as the case may be.

 

Section 512          Control by Holders of Securities.  The Holders of a majority in
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, provided that

 

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

 

50

 

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

 

(3)   the
Trustee need not take any action which might involve it in personal liability
or be unjustly prejudicial to the Holders of Securities of such series not
consenting.

 

Section 513          Waiver of Past Defaults.  The Holders of not less than a majority in
principal amount of the Outstanding Securities of any series may on behalf of
the Holders of all the Securities of such series and any related coupons waive
any past default hereunder with respect to such series and its consequences,
except a default

 

(1)   in
the payment of the principal of (or premium, if any) or interest, if any, on
any Security of such series or any related coupons, or

 

(2)   in
respect of a covenant or provision hereof which under Article IX 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 Event of Default or impair any right consequent thereon.

 

Section 514          Waiver of Stay or Extension Laws.  Each of the Company and the
Guarantor covenant (to the extent that each may lawfully do so) that 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 wherever enacted,
now or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and each of the Company and the Guarantor (to
the extent that each may lawfully do so) hereby expressly waives all benefit or
advantage of any such law, and covenants that it will not hinder, delay or
impede the execution of any power herein granted to the Trustee, but will
suffer and permit the execution of every such power as though no such law had
been enacted.

 

ARTICLE VI
 

THE
TRUSTEE

 

Section 601          Certain Duties and Responsibilities

 

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

 

(1)           the Trustee undertakes
to perform such duties and only such duties as are specifically set forth in
this Indenture, and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and

 

(2)           in the absence of bad
faith on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein,

 

51

 

upon certificates
or opinions furnished to the Trustee and conforming to the requirements of this
Indenture; but in the case of any such certificates or opinions which by any
provision hereof are specifically required to be furnished to the Trustee, the Trustee
shall be under a duty to examine the same to determine whether or not they
conform to the requirements of this Indenture (but need not confirm or
investigate the accuracy of mathematical calculations or other facts stated
therein or any conclusions stated therein).

 

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

 

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

 

(1)                                     this
Subsection shall not be construed to limit the effect of Subsections (a) or
(d) of this Section 601;

 

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

 

(3)                                     the
Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of a majority
in principal amount of the Outstanding Securities of any 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.

 

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

 

(e)                                     Whether
or not therein expressly so provided, 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 601.

 

Section 602          Notice of Defaults.  Within 90 days
after the occurrence of any Default hereunder with respect to the Securities of
any series, the Trustee shall transmit in the manner and to the extent provided
in TIA Section 313(c), 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 any Security of such series, or
in the payment of any sinking or purchase fund installment with respect to the
Securities of such series, the Trustee shall be protected in withholding such
notice if and so long as the board of directors, the executive committee or a
trust committee of directors 

 

52

 

and/or Responsible Officers of
the Trustee in good faith determines that the withholding of such notice is in
the interests of the Holders of the Securities and coupons of such series; and
provided further that in the case of any Default or breach of the character specified
in Section 501(4) with respect to the Securities and coupons of such
series, no such notice to Holders shall be given until at least 60 days after
the occurrence thereof.

 

Section 603                               Certain Rights of Trustee.  Subject to the provisions of TIA Section 315(a) through
315(d):

 

(1)   The Trustee may rely and
shall be 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 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 a Company
Request or Company Order or of the Guarantor mentioned herein shall be
sufficiently evidenced by a Guarantor Request or Guarantor Order (in each case,
other than delivery of any Bearer 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 be herein specifically
prescribed) may, in the absence of bad faith on its part, rely upon a Board
Resolution, an Opinion of Counsel or an Officers’ Certificate.

 

(4)   The Trustee may consult with
counsel 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 this
Indenture at the request or direction of any of the Holders of Securities of
any series or any related coupons pursuant to this Indenture, unless such
Holders shall have offered to the Trustee reasonable security or indemnity
against the costs, expenses and liabilities 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 or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, coupon or other
paper or document, but the Trustee, in its discretion, may make such further
inquiry or investigation into such facts or matters as it may see fit, and, if
the 

 

53

 

Trustee shall determine to make such further inquiry or investigation,
it shall be entitled to examine the books, records and premises of the Company
and the Guarantor, personally or by agent or attorney.

 

(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 shall not be
liable for any action taken, suffered or omitted by it in good faith and
believed by it to be authorized or within the discretion or rights or powers
conferred upon it by this Indenture.

 

(9)    The Trustee shall not be
responsible or liable for any failure or delay in the performance of its
obligations under this Indenture arising out of or caused, directly or
indirectly, by circumstances beyond its control, including, without limitation,
acts of God; earthquakes; fire; flood; terrorism; wars and other military disturbances;
sabotage; epidemics; riots; interruptions; loss or malfunctions of utilities,
computer (hardware or software) or communication services; accidents; labor
disputes; acts of civil or military authority and governmental action.

 

Section 604          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 or the Guarantor,
as the case may be, 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 coupons
or the Guarantees, 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
Securities or the proceeds thereof.

 

Section 605          May Hold Securities.  The Trustee, any Paying Agent, Security
Registrar, Authenticating Agent or any other agent of the Trustee, the Company
or the Guarantor, in its individual or any other capacity, may become the owner
or pledgee of Securities and coupons and, subject to TIA Sections 310(b) and
311, may otherwise deal with the Company or the Guarantor with the same rights
it would have if it were not Trustee, Paying Agent, Security Registrar,
Authenticating Agent or such other agent.

 

Section 606          Money Held in Trust.  Money held by the Trustee in trust hereunder
need not be segregated from other funds except to the extent required by
law.  The Trustee shall be under no
liability for interest on any money received by it hereunder except as
otherwise agreed with the Company or the Guarantor, as the case may be.

 

54

 

Section 607                               Compensation and Reimbursement.  The Company agrees:

 

(1)   To pay to the Trustee from
time to time such compensation for all services rendered by it hereunder as has
been agreed upon in writing (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 each of the Trustee and any predecessor
Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any provision of
this Indenture (including the reasonable compensation and the expenses and
disbursements of its agents and counsel), except any such expense, disbursement
or advance as may be attributable to its negligence or willful misconduct.

 

(3)   To indemnify each of the
Trustee and any predecessor Trustee and their officers, agents, directors and
employees for, and to hold them harmless against, any loss, liability or
expense incurred without negligence or willful misconduct on its own part,
arising out of or in connection with the acceptance or administration of the
trust or trusts hereunder, including the costs and expenses of defending itself
against any claim or liability in connection with the exercise or performance
of any of its powers or duties hereunder.

 

In the
event that the Company fails to make any such payments or indemnify the
Trustee, the Guarantor agrees to make such payments and/or indemnify the
Trustee on its behalf, which agreement shall survive the resignation or removal
of any Trustee and the satisfaction and discharge of this Indenture.

 

As
security for the performance of the obligations of the Company and the
Guarantor under this Section, the Trustee shall have a claim prior to the
Securities 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,
if any) or interest, if any, on particular Securities or any coupons.

 

In
addition to, but without prejudice to its other rights under this Indenture,
when the Trustee incurs expenses or renders services in connection with an
Event of Default specified in Section 501(5) or (6), the expenses
(including the reasonable charges and expenses of its counsel) and the
compensation for the services are intended to constitute expenses of
administration under any applicable U.S. federal or state bankruptcy, insolvency
or other similar law.

 

“Trustee”
for purposes of this Section shall include any predecessor Trustee;
provided, however, that the negligence, willful misconduct or bad faith of any
Trustee hereunder shall not affect the rights of any other Trustee hereunder.

 

The provisions of this Section shall
survive the satisfaction and discharge of the Securities, the termination for
any reason of this Indenture, and the resignation or removal of the Trustee.

 

Section 608                               Corporate Trustee Required;
Eligibility.  There shall at all times be a Trustee hereunder which shall be eligible
to act as Trustee under TIA Section 310(a)(1) and shall have a
combined capital and surplus of at least $50,000,000.  If such corporation publishes reports of 

 

55

 

condition at least annually, pursuant to law or the requirements of
Federal, State, Territorial or District of Columbia supervising or examining
authority, then for the purposes of this Section, the combined capital and
surplus of such corporation shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published.  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 609                               Resignation and Removal;
Appointment of Successor. 
(a)  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 in accordance with the
applicable requirements of Section 610.

 

(b)   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 and the Guarantor.

 

(c)   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 principal amount of the Outstanding
Securities of such series delivered to the Trustee and to the Company and the
Guarantor.

 

(d)   If
at any time:

 

(1)   the Trustee shall fail to
comply with the provisions of TIA Section 310(b) after written
request therefor by the Company, the Guarantor or by any Holder of a Security
who has been a bona fide Holder of a Security for at least six months, or

 

(2)   the Trustee shall cease to
be eligible under Section 608(a) and shall fail to resign after
written request therefor by the Company, the Guarantor or by any Holder of a
Security who has been a bona fide Holder of a Security for at least
six months, or

 

(3)   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 or the
Guarantor by or pursuant to a Board Resolution may remove the Trustee and
appoint a successor Trustee with respect to all Securities, or (ii) subject
to TIA Section 315(e), any Holder of a Security who has been a bona fide
Holder of a Security 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 and the appointment of a
successor Trustee or Trustees.

 

(e)   If
an instrument of acceptance by a successor Trustee shall not have been
delivered to the Trustee within 30 days after the giving of a notice of
resignation or the delivery of an Act of removal, the Trustee resigning or
being removed may petition any court of competent jurisdiction for the
appointment of a successor Trustee.

 

56

 

(f)    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 and the Guarantor, 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).  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 principal amount of the
Outstanding Securities of such series delivered to the Company, the Guarantor
and the retiring Trustee, the successor Trustee so appointed shall, forthwith
upon its acceptance of such appointment, become the successor Trustee with
respect to the Securities of such series and to that extent supersede the
successor Trustee appointed by the Company and the Guarantor.  If no successor Trustee with respect to the
Securities of any series shall have been so appointed by the Company and the
Guarantor, or the Holders of Securities and accepted appointment in the manner
hereinafter provided, 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 Securities of such
series.

 

(g)   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 in the manner
provided for notices to the Holders of Securities in 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 610          Acceptance of Appointment by Successor.  (a)  In case of the
appointment hereunder of a successor Trustee with respect to all Securities,
every such successor Trustee shall execute, acknowledge and deliver to the
Company, the Guarantor 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 of the retiring Trustee; but, on request of the Company, the Guarantor
or the successor Trustee, such retiring Trustee shall, upon payment of its
charges and all other amounts payable to it hereunder, execute and deliver an
instrument transferring to such successor Trustee all the rights, powers and
trusts of the retiring Trustee, and shall duly assign, transfer and deliver to
such successor Trustee all property and money held by such retiring Trustee
hereunder, subject nevertheless to its claim, if any, provided for in Section 607.

 

(b)   In
case of the appointment hereunder of a successor Trustee with respect to the
Securities of one or more (but not all) series, the Company, the Guarantor, the
retiring Trustee and each successor Trustee with respect to the Securities of
one or more series shall execute and deliver an indenture supplemental hereto
wherein each successor Trustee shall accept such appointment and which (1) shall
contain such provisions as shall be necessary or desirable to transfer and
confirm to, and to vest in, each successor Trustee all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of
that or those series to which the appointment of such successor Trustee
relates, (2) if the retiring Trustee is not retiring with 

 

57

 

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 of the same trust and that each such
Trustee shall be trustee of a trust or trusts hereunder separate and apart from
any trust or trusts hereunder administered by any other such Trustee; and 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 and each such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Securities of that or those series
to which the appointment of such successor Trustee relates; but, on request of
the Company, the Guarantor or any successor Trustee, such retiring Trustee
shall, upon payment of its charges and all other amounts payable to it
hereunder, duly assign, transfer and deliver to such successor Trustee all
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 nevertheless to the retiring Trustee’s claim provided
for in Section 607.

 

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

 

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

 

Section 611          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 such corporation shall be otherwise 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 or coupons shall have
been authenticated, but not delivered, by the Trustee then in office, any
successor by merger, conversion or consolidation to such authenticating Trustee
may adopt such authentication and deliver the Securities or coupons so
authenticated with the same effect as if such successor Trustee had itself
authenticated such Securities or coupons. 
In case any Securities or coupons shall not have been authenticated by
such predecessor Trustee, any such successor Trustee may authenticate and
deliver such Securities or coupons, in its own name, with the full force and
effect which this Indenture provides for the certificate of authentication of
the Trustee.

 

Section 612          Appointment of Authenticating Agent.  At any time when any of the
Securities remain Outstanding, the Trustee may appoint an Authenticating Agent
or Agents with respect to one or more series of Securities which shall be
authorized to act on behalf of the Trustee to 

 

58

 

authenticate Securities of such series issued upon exchange,
registration of transfer or partial redemption thereof, and Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be
valid and obligatory for all purposes as if authenticated by the Trustee
hereunder. Any such appointment shall be evidenced by an instrument in writing
signed by a Responsible Officer of the Trustee, a copy of which instrument
shall be promptly furnished to the Company. 
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 shall be acceptable to the Company and the Guarantor and,
except as may otherwise be provided pursuant to Section 301, shall at all
times be a bank or trust company or corporation organized and doing business
and in good standing under the laws of the United States of America or of any
State or the District of Columbia, authorized under such laws to act as
Authenticating Agent, having a combined capital and surplus of not less than
$1,500,000 and subject to supervision or examination by U.S. federal or state
authorities.  If such Authenticating
Agent publishes reports of condition at least annually, pursuant to law or the
requirements of the aforesaid supervising or examining authority, then for the
purposes of this Section, the combined capital and surplus of such
Authenticating Agent shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published.  In case at any time an Authenticating Agent
shall cease to be eligible in accordance with the provisions of this Section,
such Authenticating Agent 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 significantly all of the
corporate agency or corporate trust business of an Authenticating Agent, shall
continue to be an Authenticating Agent, provided such corporation shall be
otherwise eligible under this Section, without the execution or filing of any
paper or further act on the part of the Trustee or the Authenticating Agent.

 

An
Authenticating Agent for any series of Securities may at any time resign by
giving written notice of resignation to the Trustee for such series and to the
Company and the Guarantor.  The Trustee
for any series of Securities may at any time terminate the agency of an
Authenticating Agent by giving written notice of termination to such
Authenticating Agent, the Company and the Guarantor.  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 for such series may appoint a successor Authenticating Agent which
shall be acceptable to the Company and the Guarantor, and shall give notice of
such appointment to all Holders of Securities of the series with respect to
which such Authenticating Agent will serve in the manner set forth in Section 106.  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 herein.  No successor Authenticating Agent shall be
appointed unless eligible under the provisions of this Section.

 

59

 

The
Company and the Guarantor each agree to pay to each Authenticating Agent from
time to time reasonable compensation including reimbursement of its reasonable
expenses for its services under this Section.

 

If an
appointment with respect to one or more series is made 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 substantially in the following form:

 

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

 

	
   

  	
  THE BANK OF NEW YORK
  MELLON,

  
	
   

  	
  as Trustee

  

 

	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
        as
  Authenticating Agent

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
       as
  Authorized Signatory

  

 

ARTICLE VII

HOLDERS’ LISTS AND REPORTS BY TRUSTEE, GUARANTOR AND COMPANY

 

Section 701          Disclosure of Names and Addresses of Holders.  Every Holder of Securities or
coupons, by receiving and holding the same, agrees with the Company, the Guarantor
and the Trustee that none of the Company, the Guarantor, the Trustee, or any
Authenticating Agent, any Paying Agent or any Security Registrar shall be held
accountable by reason of the disclosure of any information as to the names and
addresses of the Holders of Securities in accordance with TIA Section 312,
regardless of the source from which such information was derived, and that the
Trustee shall not be held accountable by reason of mailing any material
pursuant to a request made under TIA Section 312(b).

 

Section 702          Reports by Trustee.  Within 60 days after May 15 of each year
commencing with the first May 15 after the first issuance of Securities
pursuant to this Indenture, the Trustee shall transmit by mail to all Holders
of Securities as provided in TIA Section 313(c) a brief report dated
as of such May 15 if required by TIA Section 313(a).

 

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 the Securities
are listed, with the Commission and with the Company.  The Company will promptly notify the Trustee
of the listing of the Securities on any stock exchange and of any delisting
thereof.

 

60

 

Section 703          Reports by Company and Guarantor.  The Company and the Guarantor
will:

 

(1)    file with the Trustee,
within 15 days after the Company or the Guarantor, as the case may be, is
required to file the same with the Commission, copies of the annual reports and
of the information, documents, and other reports (or copies of such portions of
any of the foregoing as the Commission may from time to time by rules and
regulations prescribe) which the Company or the Guarantor, as the case may be,
may be required to file with the Commission pursuant to Section 13 or Section 15(d) of
the Securities Exchange Act of 1934; or, if the Company or the Guarantor, as
the case may be, is not required to file information, documents or reports
pursuant to either of such Sections, then it will file with the Trustee and the
Commission, in accordance with rules and regulations prescribed from time
to time by the Commission, such of the supplementary and periodic information,
documents and reports which may be required pursuant to Section 13 of the
Securities Exchange Act of 1934 in respect of a security listed and registered
on a national securities exchange as may be prescribed from time to time in
such rules and regulations;

 

(2)    file with the Trustee and
the Commission, in accordance with rules and regulations prescribed from
time to time by the Commission, such additional information, documents and
reports with respect to compliance by the Company and the Guarantor, as the
case may be, with the conditions and covenants of this Indenture as may be
required from time to time by such rules and regulations; and

 

(3)    transmit by mail to the
Holders of Securities, within 30 days after the filing thereof with the
Trustee, in the manner and to the extent provided in TIA Section 313(c),
such summaries of any information, documents and reports required to be filed
by the Company or the Guarantor pursuant to paragraphs (1) and (2) of
this Section as may be required by rules and regulations prescribed
from time to time by the Commission.

 

Delivery
of reports, information and documents to the Trustee under this Section 703
is for informational purposes only and the Trustee’s receipt of the foregoing
shall not constitute constructive notice of any information contained therein
or determinable from information contained therein, including compliance by the
Company and the Guarantor with any of their respective covenants hereunder (as
to which the Trustee is entitled to rely exclusively on Officers’
Certificates).

 

Section 704          Calculation of Original Issue Discount.  Upon request of the Trustee, the
Company shall file with the Trustee promptly at the end of each calendar year a
written notice specifying the amount of original issue discount (including
daily rates and accrual periods), if any, accrued on Outstanding Securities as
of the end of such year.

 

ARTICLE VIII

 

CONSOLIDATION, MERGER, CONVEYANCE
OR TRANSFER

 

Section 801          Company or Guarantor May Consolidate, etc., Only on
Certain Terms. 
Neither the Company nor the Guarantor shall consolidate with or merge
with or into any other 

 

61

 

Person or convey or transfer its properties and assets substantially as
an entirety to any Person, unless:

 

(1)    either the Company or the
Guarantor, as the case may be, shall be the continuing corporation, or the
corporation (if other than the Company or the Guarantor) formed by such
consolidation or into which the Company or the Guarantor is merged or the
Person which acquires by conveyance or transfer the properties and assets of
the Company or the Guarantor substantially as an entirety shall expressly
assume, by an indenture supplemental hereto, executed and delivered to the
Trustee, in form satisfactory to the Trustee, in the case of the Company, the
due and punctual payment of the principal of (and premium, if any) and
interest, if any, on all the Securities and the performance of every covenant
of this Indenture on the part of the Company to be performed or observed, and,
in the case of the Guarantor, the due and punctual performance of the
Guarantees and the performance or observance of every covenant of this
Indenture on the part of the Guarantor to be performed or observed;

 

(2)    immediately after giving
effect to such transaction, no Default or Event of Default shall have happened
and be continuing;

 

(3)    if as a result thereof any
property or assets of the Guarantor or a Restricted Subsidiary would become
subject to any mortgage, lien, pledge, charge or other encumbrance not
permitted by (i) through (xi) of paragraph (a) of Section 1006
or paragraph (b) of Section 1006, compliance shall be effected
with the first clause of paragraph (a) of Section 1006;

 

(4)    any Person formed by the
consolidation with the Company or into which the Company is merged or which
acquires by conveyance or transfer, or which leases, the properties and assets
of the Company, substantially as an entirety and which is not organized and
validly existing under the laws of the United States, any State thereof or the
District of Columbia shall expressly agree, by an indenture supplemental
hereto, executed and delivered to the Trustee, in form satisfactory to the
Trustee, to indemnify the Holder of each Security against (A) any
Additional Amounts imposed on such Holder or required to be withheld or
deducted from any payment to such Holder as a consequence of such
consolidation, merger, conveyance, transfer or lease, and (B) any costs or
expenses of the act of such consolidation, merger, conveyance, transfer or
lease; and

 

(5)    the Company or the
Guarantor, as the case may be, and the successor Person have delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel each stating that
such consolidation, merger, conveyance or transfer and such supplemental
indenture comply with this Article and that all conditions precedent
herein provided for relating to such transaction have been complied with.

 

Section 802          Successor Person Substituted.  Upon any consolidation or merger, or any
conveyance or transfer of the properties and assets of the Company or the
Guarantor substantially as an entirety in accordance with Section 801, the
successor Person formed by such 

 

62

 

consolidation or into which the Company or the Guarantor is merged or
the successor Person to which such conveyance or transfer is made shall succeed
to, and be substituted for, and may exercise every right and power of, the
Company or the Guarantor, as the case may be, under this Indenture with the
same effect as if such successor Person had been named as the Company or the
Guarantor, as the case may be, herein; and in the event of any such conveyance
or transfer, the Company or the Guarantor as the case may be, shall be
discharged from all obligations and covenants under this Indenture and the
Securities and coupons, or the Guarantees, as the case may be, and may be
dissolved and liquidated.

 

Section 803          Assumption by Guarantor.  If the Company is required to pay Additional Amounts,
the Guarantor, or any of its Subsidiaries, may directly assume, by an indenture
supplemental hereto, executed and delivered to the Trustee, in form
satisfactory to the Trustee, the due and punctual payment of the principal of,
any premium and interest on and any Additional Amounts with respect to all the
Securities and the performance of every covenant of this Indenture on the part
of the Company to be performed or observed and the indemnification obligation
specified under Section 801(4).  Upon any
such assumption, the Guarantor or such Subsidiary 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 the Guarantor or such Subsidiary had
been named as the Company herein, and the Company shall be released from all
obligations and covenants with respect to the Securities.  No such assumption shall be permitted unless
the Guarantor has delivered to the Trustee (i) an Officers’ Certificate
and an Opinion of Counsel, each stating that such assumption and supplemental
indenture comply with this Section 803, and that all conditions precedent
herein provided for relating to such transaction have been complied with and
that, in the event of assumption by a Subsidiary, the Guarantee and all other
covenants of the Guarantor herein remain in full force and effect and (ii) an
opinion of independent counsel that the Holders of Securities or related
coupons (assuming such Holders are only taxed as residents of the United
States) shall have no materially adverse United States federal tax consequences
as a result of such assumption, and that, if any Securities are then listed on
the New York Stock Exchange, that such Securities shall not be delisted as a
result of such assumption.

 

ARTICLE IX

 

SUPPLEMENTAL INDENTURES

 

Section 901          Supplemental Indentures Without Consent of Holders.  Without the consent of any
Holders of Securities or coupons, the Company and the Guarantor, when
authorized by or pursuant to a Board Resolution of the Company and the
Guarantor, as applicable, and the Trustee, at any time and from time to time,
may enter into one or more indentures supplemental hereto, in form satisfactory
to the Trustee, for any of the following purposes:

 

(1)    to evidence the succession
of another Person to the Company or the Guarantor and the assumption by any
such successor of the covenants of the Company or the Guarantor, as the case
may be, herein and in the Securities and Guarantees; or

 

(2)    to add to the covenants of
the Company or the Guarantor for the benefit of the Holders of all or any
series of Securities (and if such covenants are to be for the benefit of less
than all series of Securities, stating that such covenants are 

 

63

 

expressly being included solely for the benefit of such series) or to
surrender any right or power herein conferred upon the Company or the
Guarantor; or

 

(3)    to add any additional
Events of Default for the benefit of the Holders of all or any series of
Securities (and if such Events of Default are to be for the benefit of less
than all series of Securities, stating that such Events of Default are
expressly being included solely for the benefit of such series); provided,
however, that in respect of any such additional Events of Default such
supplemental indenture may provide for a particular period of grace after
default (which period may be shorter or longer than that allowed in the case of
other defaults) or may provide for an immediate enforcement upon such default
or may limit the remedies available to the Trustee upon such default or may
limit the right of the Holders of a majority in aggregate principal amount of
that or those series of Securities to which such additional Events of Default
apply to waive such default; or

 

(4)    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 Bearer Securities, to
permit Bearer Securities to be issued in exchange for Registered Securities, to
permit Bearer Securities to be issued in exchange for Bearer Securities of
other authorized denominations or to permit or facilitate the issuance of
Securities in uncertificated form; provided that any such action shall
not adversely affect the interests of the Holders of Securities of any series
or any related coupons in any material respect; or

 

(5)    to change or eliminate any
of the provisions of this Indenture; provided that any such change or
elimination shall become effective only when there is no Security Outstanding
of any series created prior to the execution of such supplemental indenture
which is entitled to the benefit of such provision; or

 

(6)    to secure the Securities or
the Guarantees pursuant to the requirements of Section 801 or 1006, or
otherwise; or

 

(7)    to establish the form or
terms of Securities of any series and any related coupons or Guarantees as
permitted by Sections 201 and 301; or

 

(8)    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; or

 

(9)    to cure any ambiguity, to
correct or supplement any provision herein 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; provided that any such action
shall not adversely affect the interests of the 

 

64

 

Holders of Securities of any series or any related coupons in any
material respect; or

 

(10)  to supplement any of the
provisions of this Indenture to such extent as shall be necessary to permit or
facilitate the defeasance and discharge of any series of Securities pursuant to
Sections 401, 1402 and 1403; provided that any such action shall
not adversely affect the interests of the Holders of Securities of such series
and any related coupons or any other series of Securities in any material
respect; or

 

(11)  to effect the assumption by
the Guarantor or a Subsidiary thereof pursuant to Section 803.

 

Section 902          Supplemental Indentures with Consent of Holders.  With the consent of the Holders
of not less than a majority in principal amount of all Outstanding Securities
affected by such supplemental indenture, by Act of said Holders delivered to
the Company, the Guarantor and the Trustee, the Company and the Guarantor, when
authorized by or pursuant to a Board Resolution of the Company and the
Guarantor, as the case may be, 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 modifying in any manner the rights of the Holders of Securities and any
related coupons under this Indenture; provided, however, that no
such supplemental indenture shall, without the consent of the Holder of each
Outstanding Security affected thereby:

 

(1)    change the Stated Maturity
of the principal of (or premium, if any, on) or any installment of principal of
or interest or Additional Amounts on, any Security, or reduce the principal
amount thereof or the rate of interest thereon (or manner of calculating such
rate), or any premium payable upon the redemption or repayment thereof or
change the date(s) or period(s) for any redemption or repayment, or change any
obligation of the Company or the Guarantor to pay Additional Amounts pursuant
to Section 1004 (except as contemplated by Section 801(1) and
permitted by Section 901(1)), or reduce the portion of the principal of an
Original Issue Discount Security or Indexed Security that would be due and
payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502
or the amount thereof provable in bankruptcy pursuant to Section 504, or
change any Place of Payment where, or the Currency in which, any Security or
any premium or interest or Additional Amounts thereon 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 or repayment at the
option of the Holder, on or after the Redemption Date or the Repayment Date, as
the case may be), or

 

(2)    reduce the percentage in
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 with respect to such
series (of compliance with certain provisions of this Indenture or certain
defaults hereunder and their consequences) provided for in this Indenture, or
reduce the requirements of Section 1504 for quorum or voting, or

 

65

 

(3)   modify any of the provisions of this Section,
Section 513 or Section 1008, 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, or

 

(4)   change in any manner adverse to the interests
of the Holders of Securities of any series the terms and conditions of the
obligations of the Guarantor under the Guarantees endorsed thereon in respect
of the due and punctual payment of the principal thereof and any premium and
interest thereof or any sinking fund payments provided in respect thereof.

 

It
shall not be necessary for any Act of Holders 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.

 

A
supplemental indenture which changes or eliminates any covenant or other
provision of this Indenture which has expressly 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.

 

The
Company may, but shall not be obligated to, fix a record date for the purpose
of determining the Persons entitled to consent to any indenture supplemental
hereto.  If a record date is fixed, the
Holders on such record date, or their duly designated proxies, and only such
Persons, shall be entitled to consent to such supplemental indenture, whether
or not such Holders remain Holders after such record date; provided that unless
such consent shall have become effective by virtue of the requisite percentage
having been obtained prior to the date which is 90 days after such record
date, any such consent previously given shall automatically and without further
action by any Holder be cancelled and of no further effect.

 

Section 903                               Execution of Supplemental Indentures.  In executing, or accepting the additional
trusts created by, any supplemental indenture permitted by this Article or
the modification thereby of the trusts created by this Indenture, the Trustee
shall be entitled to receive, and shall (subject to Section 315 of the
Trust Indenture Act) be fully protected in relying upon, an Opinion of Counsel
stating that the execution of such supplemental indenture is authorized or
permitted by this Indenture.  The Trustee
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 Securities theretofore or thereafter
authenticated and delivered hereunder and of any coupon appertaining thereto
shall be bound thereby.

 

Section 905                               Conformity with Trust Indenture Act.  Every supplemental indenture executed
pursuant to this Article shall conform to the requirements of the Trust
Indenture Act as then in effect.

 

66

 

Section 906                               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 in form approved by the
Trustee as to any matter provided for in such supplemental indenture.  If the Company and the Guarantor shall so
determine, new Securities of any series so modified as to conform, in the
opinion of the Trustee, the Company and the Guarantor, to any such supplemental
indenture may be prepared and executed by the Company, the Guarantees endorsed
thereon may be prepared and executed by the Guarantor and such Securities may
be authenticated and delivered by the Trustee in exchange for Outstanding
Securities of such series.

 

ARTICLE X

 

COVENANTS

 

Section 1001                        Payment of Principal, Premium and Interest.  The Company covenants and agrees for the
benefit of the Holders of each series of Securities that it will duly and
punctually pay the principal of (and premium, if any) and interest, if any, on
the Securities of that series in accordance with the terms of such series of
Securities, any coupons appertaining thereto and this Indenture.  Any interest due on Bearer Securities on or
before Maturity, other than Additional Amounts, if any, payable as provided in Section 1004
in respect of principal of (or premium, if any, on) such a Security, shall be
payable only upon presentation and surrender of the several coupons for such
interest installments as are evidenced thereby as they severally mature.  Unless otherwise specified with respect to
Securities of any series pursuant to Section 301, at the option of the
Company, all payments of principal of (and premium, if any) and interest may be
paid by check to the registered Holder of the Registered Security or other
person entitled thereto against surrender of such Security.  Unless otherwise specified as contemplated by
Section 301 with respect to any series of Bearer Securities, any interest
due on Bearer Securities on or before Maturity shall be payable only upon
presentation and surrender of the several coupons for such interest
installments as are evidenced thereby as they severally mature.

 

Section 1002                        Maintenance of Office or Agency. 
If Securities of a series are issuable only as Registered Securities,
the Company shall maintain in each Place of Payment for any series of
Securities an office or agency where Securities of that series may be presented
or surrendered for payment, where Securities of that series may be surrendered
for registration of transfer or exchange, and where notices and demands to or
upon the Company or the Guarantor, as the case may be, in respect of the Securities
of that series and this Indenture may be served.  If Securities of a series are issuable as
Bearer Securities, the Company will maintain (A) in the Borough of
Manhattan, The City of New York, an office or agency where any Registered
Securities of that series may be presented or surrendered for payment, where
any Registered Securities of that series may be surrendered for registration of
transfer, where Securities of that series may be surrendered for exchange,
where notices and demands to or upon the Company or the Guarantor, as the case
may be, in respect of the Securities of that series and this Indenture may be
served and where Bearer Securities of that series and related coupons may be
presented or surrendered for payment in the circumstances described in the
following paragraph (and not otherwise), (B) subject to any laws or
regulations applicable thereto, in a Place of Payment for that series which is
located outside the United States, an office or agency where Securities of that
series and related coupons may be presented and surrendered for payment; provided,
however, that if the 

 

67

 

Securities of that series are listed on the Luxembourg Stock Exchange or
any other stock exchange located outside the United States and such stock
exchange shall so require, the Company or the Guarantor, as the case may be,
will maintain a Paying Agent for the Securities of that series in Luxembourg or
any other required city located outside the United States, as the case may be,
so long as the Securities of that series are listed on such exchange, and (C) subject
to any laws or regulations applicable thereto, in a Place of Payment for that
series located outside the United States an office or agency where any
Registered Securities of that series may be surrendered for registration of
transfer, and where notices and demands to or upon the Company or the
Guarantor, as the case may be, in respect of the Securities of that series and
this Indenture may be served.  The
Company will give prompt written notice to the Trustee of the location, and any
change in the location, of each such office or agency.  If at any time the Company shall fail to
maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the Corporate Trust Office of the Trustee,
except that Bearer Securities of that series and the related coupons may be
presented and surrendered for payment at the offices specified in the Security,
in London, England, and the Company hereby appoints the same as its agent to
receive such respective presentations, surrenders, notices and demands, and the
Company hereby appoints the Trustee as its agent to receive all such
presentations, surrenders, notices and demands.

 

If
Securities of a series are issuable only as Registered Securities, the
Guarantor shall maintain in each Place of Payment for any series of Securities
an office or agency where Securities of that series may be presented or
surrendered for payment pursuant to any Guarantee and where notices and demands
to or upon the Guarantor in respect of any Guarantee and this Indenture may be
served.  If Securities of a series are
issuable as Bearer Securities, the Guarantor will maintain (A) in the
Borough of Manhattan, The City of New York, an office or agency where any
Registered Securities of that series may be presented or surrendered for
payment pursuant to any Guarantee and where notices and demands to or upon the
Guarantor in respect of any Guarantee and this Indenture may be served and
where Bearer Securities of that series and related coupons may be presented or
surrendered for payment pursuant to any Guarantee in the circumstances
described in the following paragraph (and not otherwise) and (B) subject
to any laws or regulations applicable thereto, in a Place of Payment for that
series which is located outside the United States, an office or agency where
Securities of that series and related coupons may be presented and surrendered
for payment pursuant to any Guarantee; provided, however, that if the
Securities of that series are listed on the Luxembourg Stock Exchange or any
other stock exchange located outside the United States and such stock exchange
shall so require, the Guarantor will maintain a Paying Agent for the Securities
of that series in Luxembourg or any other required city located outside the
United States, as the case may be, so long as the Securities of that series are
listed on such exchange.  The Guarantor
will give prompt written notice to the Trustee of the location, and any change
in the location, of each such office or agency. 
If at any time the Guarantor shall fail to maintain any such required
office or agency or shall fail to furnish the Trustee with the address thereof,
such presentations, surrenders, notices and demands may be made or served at
the Corporate Trust Office of the Trustee, except that Bearer Securities of
that series and the related coupons may be presented and surrendered for
payment at the offices specified in the Security, in London, England, and the
Guarantor hereby appoints the same as its agent to receive such respective
presentations, surrenders, notices and demands, and 

 

68

 

the Guarantor hereby appoints the Trustee as its agent
to receive all such presentations, surrenders, notices and demands.

 

Unless
otherwise specified with respect to any Securities pursuant to Section 301,
no payment of principal, premium or interest by or on behalf of the Guarantor
on Bearer Securities shall be made at any office or agency of the Company or
the Guarantor, as the case may be, 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, that, notwithstanding
anything to the contrary contained herein, if the Securities of a series are
payable in Dollars, payment of principal of (and premium, if any) and interest,
if any, by or on behalf of the Guarantor on any Bearer Security shall be made
at the office of the Company’s or the Guarantor’s, as the case may be, Paying
Agent in the Borough of Manhattan, The City of New York, if (but only if)
payment in Dollars of the full amount of such principal, premium or interest,
as the case may be, at all offices or agencies outside the United States
maintained for such purpose by the Company or the Guarantor, as the case may
be, in accordance with this Indenture, is illegal or effectively precluded by
exchange controls or other similar restrictions.

 

The
Company or the Guarantor 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 of 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 or the Guarantor of its
obligation to maintain an office or agency in accordance with the requirements
set forth above for Securities of any series for such purposes.  The Company or the Guarantor will 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 specified with respect to
any Securities pursuant to Section 301 with respect to a series of
Securities, subject to the immediately preceding paragraph, the Company and the
Guarantor each hereby designate as Places of Payment for each series of
Securities the office or agency of the Company or the Guarantor, as the case
may be, in the Borough of Manhattan, The City of New York, and initially
appoints the Trustee at its Corporate Trust Office as Paying Agent in such city
and as its agent and the Corporate Trust Office of the Trustee as the Office or
Agency of the Company, to receive all such presentations, surrenders, notices
and demands.

 

Unless
otherwise specified with respect to any Securities pursuant to Section 301,
if and so long as the Securities of any series (i) are denominated in
a Foreign Currency other than Dollars or (ii) may be payable in a Foreign Currency,
or so long as it is required under any other provision of this Indenture, then
the Company or the Guarantor, as the case may be, will maintain with respect to
each such series of Securities, or as so required, at least one Exchange Rate
Agent.

 

Section 1003                        Money for Securities Payments to Be Held in Trust.  If the Company shall at any time act as its
own, or authorize the Guarantor to act as, Paying Agent with respect to any
series of any Securities and any related coupons, it will, on or before each
due date of the principal of (or premium, if any) or interest, if any, on any
of the Securities of that series, segregate and hold in trust for the benefit
of the Persons entitled thereto a sum in the Currency in which the Securities
of such series are payable (except as otherwise specified pursuant to Section 301
for the Securities of such series and except, if applicable, as provided in 

 

69

 

Sections 312(b), 312(d) and 312(e)) sufficient to pay the
principal of (and premium, if any) and interest, if any, on Securities of such
series so becoming due until such sums shall be paid to such Persons or
otherwise disposed of as herein provided, and will promptly notify the Trustee
of its action or failure so to act.

 

Whenever
the Company shall have one or more Paying Agents for any series of Securities
and any related coupons, it will, on or before each due date of the principal
of (or premium, if any) or interest, if any, on any Securities of that series,
deposit with a Paying Agent a sum (in the Currency described in the preceding
paragraph) sufficient to pay the principal (or premium, if any) or interest or
Additional Amounts, if any, so becoming due, such sum to be held in trust for
the benefit of the Persons entitled to such principal, premium or interest and
(unless such Paying Agent is the Trustee) the Company will promptly notify the
Trustee of its action or failure so to act.

 

The
Company or the Guarantor 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 or Guarantor 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 trusts 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 in the Securities of any series, any money deposited with
the Trustee or any Paying Agent, or then held by the Company or the Guarantor,
in trust for the payment of the principal of (or premium, if any) or interest,
if any, on any Security of any series and remaining unclaimed for two years
after such principal, premium or interest has become due and payable shall be
paid to the Company upon Company Request (if then held by the Company) or, if
deposited by the Guarantor, paid to the Guarantor on Guarantor Request shall be
discharged from such trust; and the Holder of such Security shall thereafter,
as an unsecured general creditor, look only to the Company and the Guarantor
for payment of such principal, premium or interest on any Security, without
interest thereon, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee
thereof, shall thereupon cease; provided, however, that the Trustee or such
Paying Agent, before being required to make any such repayment, shall at the
expense of the Company or the Guarantor cause to be published once, in an
Authorized Newspaper, notice that such money remains unclaimed and that, after
a date specified therein, which shall not be less than 30 days from the
date of such publication, any unclaimed balance of such money then remaining will
be repaid to the Company or the Guarantor, as the case may be.

 

Section 1004                        Additional Amounts. 
All payments of, or in respect of, principal of and any premium and
interest on the Securities, and all payments pursuant to any Guarantee, shall
be made without withholding or deduction for, or on account of, any present or
future taxes, duties, assessments or governmental charges of whatever nature
imposed or levied by or on behalf of Luxembourg (or, in the case of a successor
Person to the Company, of the jurisdiction in which such successor is
organized) or any political subdivision or taxing authority thereof or therein,
unless such taxes, duties, assessments or governmental charges are required by
Luxembourg (or such successor Person’s jurisdiction) or any such subdivision or
authority to be withheld or deducted. In that event, the Company or the
Guarantor, as applicable, will pay such additional amounts of, or in respect
of, principal and any premium 

 

70

 

and interest (“Additional Amounts”) as will result (after deduction of
such taxes, duties, assessments or governmental charges and any additional
taxes, duties, assessments or governmental charges payable in respect of such)
in the payment to each Holder of a Security of the amounts which would have
been payable in respect of such Security or the Guarantee thereof, as the case
may be, had no such withholding or deduction been required, except that no
Additional Amounts shall be so payable for or on account of:

 

(1)   any tax, duty, assessment or other
governmental charge imposed by the United States or any political subdivision
or taxing authority thereof or therein;

 

(2)   any tax, duty, assessment or other
governmental charge which would not have been imposed but for (A) the
existence of any present or former connection between such Holder or a third
party on behalf of such Holder by reason of its (or between a fiduciary,
settlor, beneficiary member, shareholder or possessor of a power over such
Holder, if such Holder is an estate, trust, partnership or corporation) having
some present or former connection with Luxembourg (or in the case of a
successor Person to the Company of the jurisdiction in which such successor is
organized) (including being or having been a citizen or resident of Luxembourg (or
such successor Person’s jurisdiction) or being or having been engaged in a
trade or business or present therein or having or having had a permanent
establishment therein, but not including the mere holding or ownership of a
debt security), or (B) the presentation of such Security or the Guarantee
thereof for payment more than 30 days after the date on which such payment
became due or was provided for, whichever is later;

 

(3)   any tax, duty, assessment or other governmental
charge which is payable otherwise than by withholding or deduction from
payments of (or in respect of) principal of or any premium or interest on the
Securities or the Guarantee(s) thereof;

 

(4)   any amount of any tax, duty, assessment or
other charge required to be withheld by a paying agent from a payment on a
guaranteed debt security, if such payment can be made without such withholding
by any other paying agent;

 

(5)   any tax, duty, assessment or other
governmental charge that is imposed or withheld by reason of the failure to
comply by the Holder or the beneficial owner of a Security with a request of
the Company or the Guarantor addressed to the Holder (A) to provide
information concerning the nationality, residence or identity of the Holder or
such beneficial owner or (B) to make any declaration or other similar
claim or satisfy any information or reporting requirement, which, in the case
of (A) or (B), is required or imposed by statute, treaty, regulation or
administrative practice of the taxing jurisdiction as a precondition to
exemption from all or part of such tax, assessment or other governmental
charge;

 

(6)   any withholding or deduction that is imposed
on a payment to an individual or a residual entity within the meaning of the
European Union Directive and required to be made pursuant to (i) any
European Union Directive on the taxation of savings implementing the
conclusions of the ECOFIN (European Union Economic and Finance Ministers)
Counsel Meeting of 26-27 November 2000 or 

 

71

 

any
law implementing or complying with or introduced in order to conform to such
Directive, (ii) the Luxembourg law dated December 23, 2005
introducing a 10 percent final withholding tax on Luxembourg resident
individuals and (iii) the agreements on savings income concluded by the
State of Luxembourg with several dependant or associated territories of the
European Union (being Jersey, Guernsey, the Isle of Man, the British Virgin
Islands, Monserrat, the Dutch Antilles and Aruba);

 

(7)   any estate, inheritance, gift, sale,
transfer, personal property or any similar tax, duty, assessment or other
governmental charge; or

 

(8)   any combination of items (1), (2), (3),
(4), (5), (6) and (7).

 

Additionally,
Additional Amounts shall not be paid with respect to any payment in respect of
any Security to any Holder who is a fiduciary or partnership or other than the
sole beneficial owner of such payment to the extent such payment would be
required by the laws of Luxembourg (or any political subdivision or taxing
authority thereof or therein) (or in the case of a successor Person to the
Company of the jurisdiction to which such successor Person is organized or any political
subdivision or taxing authority thereof or therein) to be included in the
income for tax purposes of a beneficiary or settlor with respect to such
fiduciary or a member of such partnership or a beneficial owner who would not
have been entitled to such Additional Amounts had it been the Holder of such
Security.

 

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 payments pursuant to the Guarantee thereof) such
mention shall be deemed to include mention of the payment of Additional Amounts
provided for in this Section to the extent that, in such context,
Additional Amounts are, were or would be payable in respect thereof pursuant to
the provisions of this Section and express mention of the payment of
Additional Amounts in any provisions hereof shall not be construed as excluding
Additional Amounts in those provisions hereof where such express mention is not
made.

 

Section 1005                        Statement as to Compliance. 
The Company and the Guarantor will each deliver to the Trustee, within
120 days after the end of each fiscal year, a brief certificate from the
principal executive officer, principal financial officer or principal
accounting officer as to his or her knowledge of the Company’s or the Guarantor’s,
as the case may be, compliance with all conditions and covenants under this
Indenture.  For purposes of this Section 1005,
such compliance shall be determined without regard to any period of grace or
requirement of notice under this Indenture.

 

Section 1006                        Limitation on
Liens. 
(a)  The Guarantor will not, nor will it permit any Restricted
Subsidiary to, issue, incur, assume or guarantee any debt (hereinafter in this Article X
referred to as “Debt”) secured by any mortgage, security interest, pledge, lien
or other encumbrance (hereinafter called “mortgage” or “mortgages”) upon any
Important Property of the 

 

72

 

Guarantor or of a Restricted Subsidiary or upon any shares of stock or
indebtedness of any Restricted Subsidiary (whether such Important Property,
shares of stock or indebtedness is now owned or hereafter acquired) without in
any such case effectively providing, concurrently with the issuance,
incurrence, assumption or guaranty of any such Debt, that the Securities
(together with, if the Guarantor shall so determine, any other indebtedness of
or guaranteed by the Guarantor or such Restricted Subsidiary ranking equally
with the Securities and then existing or thereafter created) shall be secured
equally and ratably with or prior to such Debt; provided, however,
that the foregoing restrictions shall not apply to:

 

(i)         mortgages on any property acquired,
constructed or improved by the Guarantor or any Restricted Subsidiary after the
date of this Indenture which are created or assumed contemporaneously with, or
within 120 days after, such acquisition, construction or improvement to secure
or provide for the payment of all or any part of the purchase price of such
property or the cost of such construction or improvement incurred after the
date of this Indenture, or (in addition to mortgages contemplated by
clauses (ii), (iii) and (iv) below) mortgages on any property
existing at the time of acquisition thereof; provided that such
mortgages shall not apply to any Important Property theretofore owned by the
Guarantor or any Restricted Subsidiary other than, in the case of any such
construction or improvement, any theretofore unimproved real property on which
the property so constructed, or the improvement, is located;

 

(ii)        mortgages on any property, shares of
stock, or indebtedness existing at the time of acquisition thereof from a
corporation which is consolidated with or merged into, or substantially all of
the assets of which are acquired by, the Guarantor or a Restricted Subsidiary;

 

(iii)       mortgages on property of a corporation
existing at the time such corporation becomes a Restricted Subsidiary;

 

(iv)       mortgages to secure Debt of a Restricted
Subsidiary to the Guarantor or to another Restricted Subsidiary;

 

(v)        mortgages in favor of the United States
of America or any State thereof, or any department, agency or instrumentality
or political subdivision of the United States of America or any State thereof,
to secure partial, progress, advance or other payments pursuant to any contract
or statute or to secure any indebtedness incurred for the purpose of financing
all or any part of the purchase price or the cost of constructing or improving
the property subject to such mortgages and mortgages given to secure indebtedness
incurred in connection with the financing of construction of pollution control
facilities, the interest on which indebtedness is exempt from income taxes
under the Internal Revenue Code of the United States of America;

 

(vi)       any deposit or pledge of assets (1) with
any surety company or clerk of any court, or in escrow, as collateral in
connection with, or in lieu of, any bond on appeal from any judgment or decree
against the Guarantor or a Restricted 

 

73

 

Subsidiary,
or in connection with other proceedings or actions at law or in equity by or
against the Guarantor or a Restricted Subsidiary, or (2) as security for
the performance of any contract or undertaking not directly or indirectly
related to the borrowing of money or the securing of indebtedness, if made in
the ordinary course of business, or (3) with any governmental agency,
which deposit or pledge is required or permitted to qualify the Guarantor or a
Restricted Subsidiary to conduct business, to maintain self-insurance, or to
obtain the benefits of any law pertaining to workers’ compensation,
unemployment insurance, old age pensions, social security, or similar matters,
or (4) made in the ordinary course of business to obtain the release of
mechanics’, workmen’s, repairmen’s, warehousemen’s or similar liens, or the
release of property in the possession of a common carrier;

 

(vii)      mortgages existing on property acquired by
the Guarantor or a Restricted Subsidiary through the exercise of rights arising
out of defaults on receivables acquired in the ordinary course of business;

 

(viii)     judgment liens, so long as the finality of
such judgment is being contested in good faith and execution thereon is stayed;

 

(ix)       mortgages for the sole purpose of extending,
renewing or replacing in whole or in part Debt secured by any mortgage referred
to in the foregoing clauses (i) to (viii), inclusive, or in this
clause (ix); provided, however, that the principal amount of Debt secured
thereby shall not exceed the principal amount of Debt so secured at the time of
such extension, renewal or replacement, and that such extension, renewal or
replacement shall be limited to all or a part of the property which secured the
mortgage so extended, renewed or replaced (plus improvements on such property);

 

(x)        liens for taxes or assessments or
governmental charges or levies not yet due or delinquent, or which can
thereafter be paid without penalty, or which are being contested in good faith
by appropriate proceedings; landlord’s liens on property held under lease; and
any other liens of a nature similar to those hereinabove described in this
clause (x) which do not, in the opinion of the Guarantor, materially
impair the use of such property in the operation of the business of the
Guarantor or a Restricted Subsidiary or the value of such property for the
purposes of such business;

 

(xi)       any transaction characterized
as a sale of receivables (retail or wholesale) but reflected as secured
indebtedness on a balance sheet in conformity with generally accepted
accounting principles then in effect;

 

(xii)      mortgages on Margin Stock owned by the
Guarantor and its Restricted Subsidiaries to the extent such Margin Stock so
mortgaged exceeds 25% of the fair market value of the sum of the Important
Property of the Guarantor and the Restricted Subsidiaries plus the shares of
stock (including Margin Stock) and indebtedness issued or incurred by the
Restricted Subsidiaries; and

 

74

 

(xiii)     mortgages on any Important Property of, or
any shares of stock or indebtedness issued or incurred by, any Restricted
Subsidiary organized under the laws of Canada.

 

(b)   The provisions of paragraph (a) of
this Section 1006 shall not apply to the issuance, incurrence, assumption
or guarantee by the Guarantor or any Restricted Subsidiary of Debt secured by a
mortgage which would otherwise be subject to the foregoing restrictions up to
an aggregate amount which, together with all other Debt of the Guarantor and
its Restricted Subsidiaries that is secured by mortgages (other than mortgages
permitted by paragraph (a) of this Section 1006) and would
otherwise be subject to the foregoing restrictions and the Attributable Debt in
respect of Sale and Lease-back Transactions (as defined in Section 1007)
in existence at such time (other than Sale and Lease-back Transactions which,
if the Attributable Debt in respect of such Sale and Lease-back had been a
mortgage, would have been permitted by subdivision (i) of paragraph (a) of
this Section 1006 and other Sale and Lease-back Transactions the proceeds
of which have been applied or committed to be applied in accordance with
paragraph (b) or (c) of Section 1007) does not at the time
exceed 5% of Consolidated Net Tangible Assets, as shown on the audited
consolidated balance sheet contained in the latest annual report to
stockholders of the Company.

 

The
term “Attributable Debt” shall mean, as of any particular time, the
present value, discounted at a rate per annum equal to the weighted average
interest rate of all Securities Outstanding at the time under this Indenture
compounded semiannually, of the obligation of a lessee for rental payments
during the remaining term of any lease (including any period for which such
lease has been extended or may, at the option of the lessor, be extended); the
net amount of rent required to be paid for any such period shall be the total
amount of the rent payable by the lessee with respect to such period, but may
exclude amounts required to be paid on account of maintenance and repairs,
insurance, taxes, assessments, water rates and similar charges; and, in the
case of any lease which is terminable by the lessee upon the payment of a
penalty, such net amount shall also include the amount of such penalty, but no
rent shall be considered as required to be paid under such lease subsequent to
the first date upon which it may be so terminated.

 

The
term “Consolidated Net Tangible Assets” shall mean the aggregate amount
of assets (less applicable reserves and other items properly deductible in
accordance with U.S. generally accepted accounting principles) of the Guarantor
and of its consolidated Subsidiaries after deducting therefrom (a) all
current liabilities (excluding any constituting funded debt, as defined in Section 1007,
by reason of their being renewable or extendable) and (b) all goodwill,
trade names, trademarks, patents, unamortized debt discount and expense and
other like intangibles.

 

The
term “Important Property” shall mean (i) any manufacturing plant,
including land, all buildings and other improvements thereon, and all
manufacturing machinery and equipment located therein, used by the Guarantor or
a Restricted Subsidiary primarily for the manufacture of products to be sold by
the Guarantor or such Restricted Subsidiary, (ii) the executive office and
administrative building of the Guarantor in Moline, Illinois, and (iii) research
and development facilities, including land and buildings and other improvements
thereon and research and development machinery and equipment located therein,
except in any case property of which the aggregate fair value as determined by
the Board of Directors does not at the time 

 

75

 

exceed 1% of Consolidated Net Tangible Assets, as
shown on the audited consolidated balance sheet contained in the latest annual
report to stockholders of the Guarantor.

 

The
term “Margin Stock” has the meaning given such term in Regulation U of
the Board of Governors of the Federal Reserve System.

 

The
term “Restricted Subsidiary” shall mean any Subsidiary (i) engaged
in, or whose principal assets consist of property used by the Guarantor or any
Restricted Subsidiary in, the manufacture of products within the United States
of America or Canada, or in the sale of products principally to customers
located in the United States of America or Canada except any corporation which
is a retail dealer in which the Guarantor has, directly or indirectly, an
investment under an arrangement providing for the liquidation of such
investment, or (ii) which the Guarantor shall designate as a Restricted
Subsidiary in an Officers’ Certificate delivered to the Trustee.

 

(c)   If, upon any consolidation or merger of any
Restricted Subsidiary with or into any other corporation, or upon any
consolidation or merger of any other corporation with or into the Guarantor or
any Restricted Subsidiary or upon any sale or conveyance of the property of any
Restricted Subsidiary as an entirety or substantially as an entirety to any other
Person, or upon any acquisition by the Guarantor or any Restricted Subsidiary
by purchase or otherwise of all or any part of the property of any other
Person, any Important Property theretofore owned by the Guarantor or such
Restricted Subsidiary would thereupon become subject to any mortgage not
permitted by the terms of paragraph (a) or (b) of this Section 1006,
the Guarantor, prior to such consolidation, merger, sale or conveyance, or
acquisition, will, or will cause such Restricted Subsidiary to, secure payment
of the principal of and interest on the Securities (equally and ratably with or
prior to any other indebtedness of the Guarantor or such Subsidiary then
entitled thereto) by a direct lien on all such property prior to all liens
other than any liens theretofore existing thereon by supplemental indenture
hereto or otherwise.

 

(d)   If at any time the Guarantor or any
Restricted Subsidiary shall issue, incur, assume or guarantee any Debt secured
by any mortgage not permitted by this Section 1006, to which the covenant
in paragraph (a) of this Section 1006 is applicable, the
Guarantor will promptly deliver to the Trustee:

 

(i)         an Officers’ Certificate stating that
the covenant of the Guarantor contained in paragraph (a) or (c) of
this Section 1006 has been complied with; and

 

(ii)        an Opinion of Counsel to the effect that
such covenant has been complied with, and that any instruments executed by the
Guarantor in the performance of such covenant comply with the requirements of
such covenant.

 

In the
event that the Guarantor shall hereafter secure the Securities equally and
ratably with or prior to any other obligation or indebtedness pursuant to the
provisions of this Section 1006, the Trustee is hereby authorized to enter
into an indenture or agreement supplemental hereto and to take such action, if
any, as it may deem advisable to enable it to enforce effectively the rights of
the holders of the Securities so secured, equally and ratably with or prior to
such other obligations or indebtedness.

 

76

 

Section 1007                        Limitation on Sale and Lease-back Transactions.  The Guarantor will not, nor will it permit
any Restricted Subsidiary to, enter into any arrangement with any Person
providing for the leasing to the Guarantor or any Restricted Subsidiary of any
Important Property owned or hereafter acquired by the Guarantor or such
Restricted Subsidiary (except for temporary leases for a term, including any
renewal thereof, of not more than three years and except for leases between the
Guarantor and a Restricted Subsidiary or between Restricted Subsidiaries),
which Important Property has been or is to be sold or transferred by the
Guarantor or such Restricted Subsidiary to such Person (herein referred to as a
“Sale and Lease-back Transaction”) unless the net proceeds of such sale are at
least equal to the fair value (as determined by the Board of Directors) of such
property and either (a) the Guarantor or such Restricted Subsidiary would
be entitled, pursuant to the provisions of (1) clause (a)(i) of
paragraph (a) of Section 1006 or (2) paragraph (b) of
Section 1006 hereof, to incur Debt secured by a mortgage on the Important
Property to be leased without equally and ratably securing the Securities, or (b) the
Guarantor shall, and in any such case the Guarantor covenants that it will,
within 120 days of the effective date of any such arrangement, apply an
amount equal to the fair value (as so determined) of such property to the
redemption pursuant to Section 1101 hereof or the purchase and retirement
of Securities or to the payment or other retirement of funded debt for money
borrowed, incurred or assumed by the Guarantor which ranks senior to or pari
passu with the Securities or of funded debt for money borrowed, incurred or assumed
by any Restricted Subsidiary (other than, in either case, funded debt owned by
the Guarantor or any Restricted Subsidiary), or (c) the Guarantor shall,
at or prior to the time of entering into the Sale and Lease-back Transaction,
enter into a bona fide commitment or commitments to expend for the acquisition
or improvement of an Important Property an amount at least equal to the fair
value (as so determined) of such property. For this purpose, funded debt means
any Debt which by its terms matures at or is extendable or renewable at the
sole option of the obligor without requiring the consent of the obligee to a
date more than twelve months after the date of the creation of such Debt.

 

Section 1008                        Waiver of Certain Covenants. 
The Company and the Guarantor, as the case may be, may omit in any
particular instance to comply with any term, provision or condition set forth
in Sections 1006, 1007 and, as specified pursuant to Section 301(15)
for Securities of any series, in any covenants of the Company or the Guarantor
added to Article X pursuant to Section 301(14) or Section 301(15)
in connection with Securities of a series, if before or after the time for such
compliance the Holders of at least a majority in principal amount of all
outstanding Securities, by Act of such Holders, waive such compliance in such
instance or generally waive 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 Guarantor and the duties of
the Trustee in respect of any such term, provision or condition shall remain in
full force and effect.

 

ARTICLE XI

 

REDEMPTION OF SECURITIES

 

Section 1101                        Applicability of Article. 
Securities of any series which are redeemable before their Stated
Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 301 for Securities of any
series) in accordance with this Article.

 

77

 

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 less than all of the
Securities of any series, the Company shall, at least 60 days prior to the
Redemption Date fixed by the Company (unless a shorter notice shall be
satisfactory to the Trustee), notify the Trustee in writing of such Redemption
Date and of the principal amount of Securities of such series to be
redeemed.  In the case of any redemption
of Securities prior to the expiration of any restriction on such redemption
provided in the terms of such Securities or elsewhere in this Indenture, the
Company shall furnish the Trustee with an Officers’ Certificate evidencing
compliance with such restriction.

 

Section 1103        Selection
by Trustee of Securities to Be Redeemed. 
If less than all the Securities
of any series issued on the same day with the same terms are to be redeemed,
the particular Securities to be redeemed shall be selected not more than
60 days prior to the Redemption Date by the Trustee, from the Outstanding
Securities of such series issued on such date with the same terms not
previously called for redemption, by such method as the Trustee shall deem fair
and appropriate and which may provide for the selection for redemption of
portions (equal to the minimum authorized denomination for Securities of that
series or any integral multiple thereof) of the principal amount of Securities
of such series of a denomination larger than the minimum authorized
denomination for Securities of that series.

 

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 Security redeemed or to be redeemed only in part, to the portion of the
principal amount of such Security 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 days nor more than 60 days prior to the Redemption Date,
unless a shorter period is specified by the terms of such series established
pursuant to Section 301, to each Holder of Securities to be redeemed, but
failure to give such notice in the manner herein provided to the Holder of any
Security 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 such Security or portion thereof.

 

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

 

All notices
of redemption shall state:

 

(1)   the Redemption Date,

 

(2)   the Redemption Price and
accrued interest, if any, to the Redemption Date payable as provided in Section 1106,

 

78

 

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

 

(5)   that on the Redemption Date,
the Redemption Price and accrued interest, if any, to the Redemption Date
payable as provided in Section 1106 will become due and payable upon each
such Security, or the portion thereof, to be redeemed and, if applicable, that
interest thereon shall cease to accrue on and after said date,

 

(6)   the Place or Places of
Payment 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 accrued interest,
if any,

 

(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 for such series 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 this 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 or the ISIN number
or the Euroclear or the Clearstream reference numbers of such Security, if any.

 

Notice
of redemption of Securities to be redeemed shall be given by the Company or, at
the Company’s request, by the Trustee in the name and at the expense of the
Company.

 

Section 1105        Deposit
of Redemption Price.  On or prior to any Redemption Date, the Company shall deposit with the
Trustee or with a Paying Agent (or, if the Company is acting as its own Paying
Agent, which it may not do in the case of a sinking fund payment under Article XII,
segregate and hold in trust as provided in Section 1003) an amount of
money in the Currency in which the Securities of such series are payable
(except as otherwise specified pursuant to Section 301 for the Securities
of such series and except, if applicable, as provided in Sections 312(b),
312(d) and 312(e)) sufficient to pay on the Redemption Date the Redemption

 

79

 

Price of, and (except if the Redemption Date shall be an Interest Payment
Date) accrued interest on, all the 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 in the Currency in which the Securities of
such series are payable (except as otherwise specified pursuant to Section 301
for the Securities of such series and except, if applicable, as provided in
Sections 312(b), 312(d) and 312(e)) (together with accrued interest,
if any, to the Redemption Date), 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 if the same were interest-bearing 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
accrued interest, if any, to the Redemption Date; provided, however,
that installments of interest on Bearer Securities whose Stated Maturity is on
or prior to the Redemption Date shall be payable only at an office or agency
located outside the United States (except as otherwise provided in Section 1002)
and, unless otherwise specified as contemplated by Section 301, only upon
presentation and surrender of coupons for such interest, and provided  further
that 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 relevant Regular Record Dates 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 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 interest or Additional Amounts represented
by coupons shall be payable only at an office or agency located outside the
United States (except as otherwise provided in Section 1002) and, unless
otherwise specified as contemplated by Section 301, only upon presentation
and surrender of those coupons.

 

If any
Security called for redemption shall not be so paid upon surrender thereof for
redemption, the Redemption Price shall, until paid, bear interest from the
Redemption Date at the rate of interest set forth in such Security or, in the
case of an Original Issue Discount Security, at the Yield to Maturity of such
Security.

 

Section 1107        Securities
Redeemed in Part.  Any Registered Security which is to be redeemed only in part (pursuant
to the provisions of this Article or of Article XII) shall be
surrendered at a Place of Payment therefor (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 

 

80

 

executed by, the Holder thereof or his attorney duly authorized in
writing) and the Company shall execute, the Guarantor shall execute the
Guarantee endorsed on, and the Trustee shall authenticate and deliver to the
Holder of such Security without service charge a new Security or Securities of
the same series, 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.  However, if less than all the Securities of
any series with differing issue dates, interest rates and stated maturities are
to be redeemed, the Company in its sole discretion shall select the particular
Securities to be redeemed and shall notify the Trustee in writing thereof at
least 45 days prior to the relevant redemption date.

 

Section 1108        Optional
Redemption Due to Changes in Tax Treatment. 
Each series of Securities may be
redeemed at the option of the Company or the Guarantor (or their successors) in
whole but not in part at any time (except in the case of Securities that have a
variable rate of interest, which may be redeemed only on any Interest Payment
Date) at a Redemption Price equal to the principal amount thereof plus accrued
interest to the date fixed for redemption (except in the case of Outstanding
Original Issue Discount Securities which may be redeemed at the Redemption
Price specified by the terms of such series of Securities) if, (i) the
Company or the Guarantor is or would be required to pay Additional Amounts as a
result of any change in or amendment to the laws or any regulations or rulings
promulgated thereunder of Luxembourg (or in the case of a successor Person to
the Company, of the jurisdiction in which such successor Person is organized or
any political subdivision or taxing authority thereof or therein) or any change
in the official application or interpretation of such laws, regulations or
rulings, or any change in the official application or interpretation of, or any
execution of or amendment to, any treaty or treaties affecting taxation to
which Luxembourg (or such other jurisdiction or political subdivision or taxing
authority) is a party, which change, execution or amendment becomes effective
on or after the date of issuance of such series pursuant to Section 301(7) (or
in the case of a successor Person to the Company, the date on which such
successor Person became such or in the case of an assumption by the Guarantor
or its Subsidiaries of obligations of the Company under the Securities, the
date of such assumption), or (ii) as a result of any change in the
official application or interpretation of, or any execution of or amendment to,
any treaty or treaties affecting taxation to which Luxembourg (or in the case
of a successor Person to the Company, to which the jurisdiction in which such
successor Person is organized or any political subdivision or taxing authority
thereof or therein) is a party, which change, execution or amendment becomes
effective on or after a date on which the Guarantor or any of its Subsidiaries
(an “Intercompany Debtor”) borrows money from the Company, the Intercompany
Debtor is or would be required to deduct or withhold tax on any payment to the
Company to enable the Company to make any payment of principal, premium, if
any, or interest, and the payment of such Additional Amounts, in the case of
clause (i), or such deductions or withholding, in the case of
clause (ii), cannot be avoided by the use of any reasonable measures
available to the Company, the Guarantor or the Intercompany Debtor. Prior to
the giving of notice of redemption of such Securities pursuant to this
Indenture, the Company will deliver to the Trustee an Officers’ Certificate,
stating that the Company is entitled to effect such redemption and setting
forth in reasonable detail a statement of circumstances showing that the
conditions precedent to the right of the Company to redeem such Securities
pursuant to this Section have been satisfied.

 

Further,
if, pursuant to Section 801(4) of this Indenture, a Person into which
the Company is merged or to whom the Company has conveyed, transferred or
leased its properties 

 

81

 

or assets has been or would be required to pay any
Additional Amounts as therein provided, each series of Securities may be
redeemed at the option of such Person in whole, but not in part, at any time
(except in the case of Securities that have a variable rate of interest, which
may be redeemed only on any Interest Payment Date), at a Redemption Price equal
to the principal amount thereof plus accrued interest to the date fixed for
redemption (except in the case of Outstanding Original Issue Discount
Securities which may be redeemed at the Redemption Price specified by the terms
of such series of Securities). Prior to the giving of notice of redemption of
such Securities pursuant to this Indenture, such Person shall deliver to the
Trustee an Officers’ Certificate stating that such Person is entitled to effect
such redemption and setting forth in reasonable detail a statement of
circumstances showing that the conditions precedent to the right of such Person
to redeem such Securities pursuant to this Section have been satisfied.

 

ARTICLE
XII

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 specified
as contemplated by Section 301 for Securities of such series.

 

The
minimum amount of any sinking fund payment provided for by the terms of
Securities of any series is herein referred to as a “mandatory sinking fund
payment”, and any payment in excess of such minimum amount provided for by the
terms of such Securities of any series is herein referred to as an “optional
sinking fund payment”.  If provided for
by the terms of any Securities of any series, the cash amount of any mandatory
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.

 

Section 1202        Satisfaction
of Sinking Fund Payments with Securities. 
The Company may, in satisfaction
of all or any part of any mandatory sinking fund payment with respect to the
Securities of a series, (1) deliver Outstanding Securities of such
series (other than any previously called for redemption) 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 Securities or through the application of permitted optional
sinking fund payments pursuant to the terms of such Securities, as provided for
by the terms of such Securities; provided that such Securities so
delivered or applied as a credit have not been previously so credited.  Such Securities shall be received and
credited for such purpose by the Trustee at the applicable Redemption Price
specified in such Securities for redemption through operation of the sinking
fund and the amount of such mandatory sinking fund payment shall be reduced
accordingly.

 

Section 1203        Redemption
of Securities for Sinking Fund.  Not less than 60 days prior to each sinking fund payment date for
Securities of any series, the Company will deliver to the Trustee an Officers’
Certificate specifying the amount of the next ensuing mandatory sinking fund
payment for that series pursuant to the terms of that series, the portion
thereof, if any, which is to be satisfied by payment of cash in the Currency in
which the Securities of such series are payable 

 

82

 

(except as otherwise specified pursuant to Section 301 for the
Securities of such series and except, if applicable, as provided in
Sections 312(b), 312(d) and 312(e)) and the portion thereof, if any,
which is to be satisfied by delivering and crediting 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 delivered and credited.  If such Officers’ 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 30 days
before each such sinking fund payment date the Trustee shall select the
Securities to be redeemed upon such sinking fund payment date in the manner
specified in Section 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 XIII

REPAYMENT AT THE OPTION OF HOLDERS

 

Section 1301        Applicability
of Article.  Repayment of Securities of any series before their Stated Maturity at the
option of Holders thereof shall be made in accordance with the terms of such
Securities and (except as otherwise specified by the terms of such series
established pursuant to Section 301) in accordance with this Article.

 

Section 1302        Repayment
of Securities.  Securities of any series subject to repayment in whole or in part at the
option of the Holders thereof will, unless otherwise provided in the terms of
such Securities, be repaid at the Repayment Price thereof, together with
interest, if any, thereon accrued to the Repayment Date specified in or
pursuant to the terms of such Securities. 
The Company and the Guarantor covenant that on or before the Repayment
Date the Company or the Guarantor will deposit with the Trustee or with a
Paying Agent (or, if the Company or the Guarantor is acting as its own Paying
Agent, segregate and hold in trust as provided in Section 1003) an amount
of money in the Currency in which the Securities of such series are payable
(except as otherwise specified pursuant to Section 301 for the Securities
of such series and except, if applicable, as provided in Sections 312(b),
312(d) and 312(e)) sufficient to pay the Repayment Price of, and (except
if the Repayment Date shall be an Interest Payment Date) accrued interest on,
all the Securities or portions thereof, as the case may be, to be repaid on
such date.

 

Section 1303        Exercise
of Option.  Securities of any series subject to repayment at the option of the
Holders thereof will contain an “Option to Elect Repayment” form on the reverse
of such Securities.  To be repaid at the
option of the Holder except as otherwise specified or contemplated by
Section 301 for Securities of such series, any Security so providing for
such repayment, with the “Option to Elect Repayment” form on the reverse of
such Security duly completed by the Holder (or by the Holder’s attorney duly
authorized in writing), must be received by the Company at the Place of Payment
therefor specified in the terms of such Security (or at such other place or
places of which the Company shall from time to time notify the Holders of such
Securities) not earlier than 45 days nor later than 30 days prior to the Repayment
Date.  The Holder must also send the Paying Agent a
facsimile or letter from a member of a national securities exchange or the
Financial Industry Regulatory Authority or a commercial bank or trust company
in the United States describing the particulars of the repayment, including a
guarantee that the Security and the “Option to Elect Repayment” form will be
received by the Paying Agent no later than five Business Days after such
facsimile or letter.  If less than the entire Repayment Price of such Security is to be repaid
in accordance with the terms of such Security, the portion of the Repayment
Price of such Security to be repaid, in 

 

83

 

increments of the minimum denomination for Securities of such series,
and the denomination or denominations of the Security or Securities to be
issued to the Holder for the portion of such Security surrendered that is not
to be repaid, must be specified.  Any
Security providing for repayment at the option of the Holder thereof may not be
repaid in part if, following such repayment, the unpaid principal amount of
such Security would be less than the minimum authorized denomination of
Securities of the series of which such Security to be repaid is a part.  Except as otherwise may be provided by the
terms of any Security providing for repayment at the option of the Holder
thereof, exercise of the repayment option by the Holder shall be irrevocable
unless waived by the Company and the Guarantor.

 

Section 1304        When
Securities Presented for Repayment Become Due and Payable.  If Securities of any series
providing for repayment at the option of the Holders thereof shall have been
surrendered as provided in this Article and as provided by or pursuant to
the terms of such Securities, such Securities or the portions thereof, as the
case may be, to be repaid shall become due and payable and shall be paid by the
Company or the Guarantor on the Repayment Date therein specified, and on and
after such Repayment Date (unless the Company and the Guarantor shall default
in the payment of such Securities on such Repayment Date) such Securities
shall, if the same were interest bearing, cease to bear interest and the
coupons for such interest appertaining to any Bearer Securities so to be repaid,
except to the extent provided below, shall be void.  Upon surrender of any such Security for
repayment in accordance with such provisions, together with all coupons, if
any, appertaining thereto maturing after the Repayment Date, the Repayment
Price of such Security so to be repaid shall be paid by the Company or the
Guarantor, together with accrued interest, if any, to the Repayment Date; provided,
however, that coupons whose Stated Maturity is on or prior to the
Repayment Date shall be payable only at an office or agency located outside the
United States (except as otherwise provided in Section 1002) and, unless
otherwise specified pursuant to Section 301, only upon presentation and
surrender of such coupons; and provided  further that, in the case
of Registered Securities, installments of interest, if any, whose Stated
Maturity is on or prior to the Repayment Date shall be payable (but without
interest thereon, unless the Company and the Guarantor shall default in the
payment thereof) to the Holders of such Securities, or one or more Predecessor
Securities, registered as such at the close of business on the relevant Regular
Record Dates according to their terms and the provisions of Section 307.

 

If any
Bearer Security surrendered for repayment shall not be accompanied by all
appurtenant coupons maturing after the Repayment Date, such Security may be
paid after deducting from the amount payable therefor as provided in Section 1302
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, the Guarantor
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 as provided in the preceding
sentence, such Holder shall be entitled to receive the amount so deducted; provided,
however, that interest represented by coupons shall be payable only at an
office or agency located outside the United States (except as otherwise
provided in Section 1002) and, unless otherwise specified as contemplated
by Section 301, only upon presentation and surrender of those coupons.

 

84

 

If any
Security surrendered for repayment shall not be so repaid upon surrender
thereof, the Repayment Price shall, until paid, bear interest from the
Repayment Date at the rate of interest set forth in such Security or, in the
case of an Original Issue Discount Security, at the Yield to Maturity of such
Security.

 

Section 1305        Securities
Repaid in Part.  Upon surrender of any Registered Security
which is to be repaid in part only, the Company shall execute, the Guarantor
shall execute the Guarantee endorsed on, and the Trustee shall authenticate and
deliver to the Holder of such Security, without service charge and at the
expense of the Company, a new Registered Security or Securities of the same
series, of any authorized denomination specified by the Holder, in an aggregate
principal amount equal to and in exchange for the portion of the principal of
such Security so surrendered which is not to be repaid.

 

ARTICLE XIV

DEFEASANCE AND COVENANT DEFEASANCE

 

Section 1401        Applicability
of Article; Company’s and Guarantor’s Option to Effect Defeasance or Covenant
Defeasance.  If pursuant to Section 301 provision is made for either or both of (a) defeasance
of the Securities of or within a series under Section 1402 or (b) covenant
defeasance of the Securities of or within a series under Section 1403,
then the provisions of such Section or Sections, as the case may be,
together with the other provisions of this Article (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 and the Guarantor may at their
option by Board Resolution, at any time, with respect to such Securities and
any coupons appertaining thereto, elect to have Section 1402 (if
applicable) or Section 1403 (if applicable) be applied to such Outstanding
Securities and any coupons appertaining thereto upon compliance with the
conditions set forth below in this Article.

 

Section 1402        Defeasance
and Discharge.  Upon their exercise of the above option
applicable to this Section with respect to any Securities of or within a
series, each of the Company and the Guarantor shall be deemed to have been
discharged from their respective obligations with respect to such Outstanding
Securities and any coupons appertaining thereto and under the Guarantee in
respect thereof on the date the conditions set forth in Section 1404 are
satisfied (hereinafter, “defeasance”). 
For this purpose, such defeasance means that the Company and the
Guarantor shall be deemed to have paid and discharged the entire indebtedness
represented by such Outstanding Securities and any coupons appertaining thereto
and under the Guarantee in respect thereof which shall thereafter be deemed to
be “Outstanding” only for the purposes of Section 1405 and the other
Sections of this Indenture referred to in clauses (A) and (B) of
this Section, and to have satisfied all its other obligations under such
Securities and any coupons appertaining thereto and under the Guarantee in
respect thereof and this Indenture insofar as such Securities and any coupons
appertaining thereto and the Guarantee in respect thereof are concerned (and
the Trustee, at the expense of the Company and the Guarantor shall execute
proper instruments acknowledging the same), except for the following which
shall survive until otherwise terminated or discharged hereunder:  (A) the rights of Holders of such Outstanding
Securities and any coupons appertaining thereto to receive, solely from the
trust fund described in Section 1404 and as more fully set forth in such
Section, payments in respect of the principal 

 

85

 

of (and premium, if any) and interest, if any, on such Securities and
any coupons appertaining thereto when such payments are due, (B) the
Company’s and the Guarantor’s obligations with respect to such Securities under
Sections 305, 306, 1002 and 1003 and with respect to the payment of
Additional Amounts, to the extent then unknown, on such Securities as
contemplated by Section 1004, (C) the rights, powers, trusts, duties
and immunities of the Trustee hereunder and (D) this Article XIV.  Subject to compliance with this Article XIV,
the Company or the Guarantor may exercise its option under this Section notwithstanding
the prior exercise of its option under Section 1403 with respect to such
Securities and any coupons appertaining thereto.

 

Section 1403        Covenant
Defeasance. 
Upon the Company’s or the Guarantor’s exercise of the above option
applicable to this Section with respect to any Securities of or within a
series, the Company and the Guarantor shall be released from their respective
obligations under Sections 1006 and 1007, and, if specified pursuant to Section 301,
its obligations under any additional covenant other than Section 1001,
with respect to such Outstanding Securities and any coupons appertaining
thereto and the Guarantee in respect thereof on and after the date the
conditions set forth in Section 1404 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 Sections 1006 and 1007, or such other
covenant, but shall continue to be deemed “Outstanding” for all other purposes
hereunder.  For this purpose, such
covenant defeasance means that, with respect to such Outstanding Securities and
any coupons appertaining thereto, the Company and the Guarantor 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 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 501(7) or otherwise, as the case may be,
but, except as specified above, the remainder of this Indenture and such Securities
and any coupons appertaining thereto and the Guarantee in respect thereof shall
be unaffected thereby.

 

Section 1404        Conditions
to Defeasance or Covenant Defeasance.  The following shall be the
conditions to application of Section 1402 or Section 1403 to any
Outstanding Securities of or within a series and any coupons appertaining
thereto and the Guarantees in respect thereof:

 

(a)           The
Company or the Guarantor shall irrevocably have deposited or caused to be
deposited with the Trustee (or another trustee satisfying the requirements of Section 608
who shall agree to comply with the provisions of this Article XIV
applicable to it) as trust funds in trust for the purpose of making the
following payments, specifically pledged as security for, and dedicated solely
to, the benefit of the Holders of such Securities and any coupons appertaining
thereto, (1) an amount (in such Currency in which such Securities and any
coupons appertaining thereto are then specified as payable at Stated Maturity),
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) 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 

 

86

 

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
an amount, sufficient, in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof
delivered to the Trustee, to pay and discharge, and which shall be applied by
the Trustee (or other qualifying trustee) to pay and discharge, (i) the
principal of (and premium, if any) and interest, if any, and any Additional
Amounts then known on such Outstanding Securities and any coupons appertaining
thereto on the Stated Maturity of such principal or installment of principal or
interest and (ii) 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 material agreement
or instrument to which the Company or the Guarantor is a party or by which it
is bound.

 

(c)           No
Default or 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 or, insofar as Sections 501(5) and 501(6) are concerned,
at any time during the period ending on the 91st day after the date of such deposit
(it being understood that this condition shall not be deemed satisfied until
the expiration of such period).

 

(d)           In
the case of an election under Section 1402, the Company or the Guarantor
shall have delivered to the Trustee an Opinion of Counsel stating that (1)(i) the
Company or the Guarantor has received from, or there has been published by, the
Internal Revenue Service a ruling, or (ii) since the date of execution of
this Indenture, there has been a change in the applicable United States federal
income tax law, in either case to the effect that, and based thereon such
opinion shall confirm that, the Holders of such Outstanding Securities and any
coupons appertaining thereto will not recognize income, gain or loss for United
States federal income tax purposes as a result of such defeasance and will be
subject to United States 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 and (2) the Holders of such Outstanding Securities and any
coupons appertaining thereto will not recognize income, gain or loss under the
tax laws of Luxembourg as a result of such defeasance and will be subject to
tax under the laws of Luxembourg 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.

 

(e)           In
the case of an election under Section 1403, the Company or the Guarantor
shall have delivered to the Trustee Opinions of Counsel to the effect that (i) the
Holders of such Outstanding Securities and any coupons appertaining

 

87

 

thereto will not recognize income, gain or
loss for United States federal income tax purposes as a result of such covenant
defeasance and will be subject to United States 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 and (ii) the Holders of such
Outstanding Securities and any coupons appertaining thereto will not recognize
income, gain or loss under the tax laws of Luxembourg as a result of such covenant
defeasance and will be subject to tax under the laws of Luxembourg 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.

 

(f)            The
Company or the Guarantor shall have delivered to the Trustee an Officers’
Certificate and an Opinion of Counsel, each stating that all conditions
precedent to the defeasance under Section 1402 or the covenant defeasance
under Section 1403 (as the case may be) have been complied with and an
Opinion of Counsel to the effect that either (i) as a result of a deposit
pursuant to subsection (a) above and the related exercise of the
Company’s and the Guarantor’s option under Section 1402 or Section 1403
(as the case may be), registration is not required under the Investment Company
Act of 1940, as amended, by the Company or the Guarantor, with respect to the
trust funds representing such deposit or by the trustee for such trust funds or
(ii) all necessary registrations under said Act have been effected.

 

(g)           The
Company or the Guarantor shall have delivered to the Trustee an Officer’s
Certificate stating that such Outstanding Securities, if then listed on any
securities exchange, will not be delisted as a result of such deposit.

 

(h)           Notwithstanding
any other provisions of this Section, 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 or the Guarantor
in connection therewith pursuant to Section 301.

 

Section 1405        Deposited
Money and Government Obligations to Be Held in Trust; Other Miscellaneous
Provisions.  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, collectively for purposes of this Section 1405,
the “Trustee”) pursuant to Section 1404 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 (including the Company or
the Guarantor acting as its own Paying Agent) as the Trustee may determine, 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.

 

88

 

Unless
otherwise specified with respect to any Security pursuant to Section 301,
if, after a deposit referred to in Section 1404(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 312(b) or the terms of such Security
to receive payment in a Currency other than that in which the deposit pursuant
to Section 1404(a) has been made in respect of such Security, or (b) a
Conversion Event occurs as contemplated in Section 312(d) or 312(e) or
by the terms of any Security in respect of which the deposit pursuant to Section 1404(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 and Additional Amounts, if any, on 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 the applicable Market Exchange Rate for such Currency in effect on the
second Business Day prior to each payment date, except, with respect to a
Conversion Event, for such Currency in effect (as nearly as feasible) at the
time of the Conversion Event.

 

The
Company or the Guarantor, as the case may be, shall pay and indemnify the
Trustee against any tax, fee or other charge imposed on or assessed against the
Government Obligations deposited pursuant to Section 1404 or the principal
and interest received in respect thereof other than any such tax, fee or other
charge which by law is for the account of the Holders of such Outstanding
Securities and any coupons appertaining thereto.

 

Anything
in this Article to the contrary notwithstanding, the Trustee shall deliver
or pay to the Company from time to time upon the Company Request, or the
Guarantor, as the case may be, upon the Guarantor Request, any money or
Government Obligations (or other property and any proceeds therefrom) held by
it as provided in Section 1404 which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, are in excess of the amount
thereof which would then be required to be deposited to effect a defeasance or
covenant defeasance, as applicable, in accordance with this Article.

 

ARTICLE XV

MEETINGS
OF HOLDERS OF SECURITIES

 

Section 1501        Purposes
for Which Meetings May Be Called.  If Securities of a series are issuable as Bearer Securities, a meeting of
Holders of Securities of such 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 action 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.  (a)  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 Borough of Manhattan, The City
of New York or in London as the Trustee shall determine.  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 

 

89

 

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.

 

(b)   In
case at any time the Company or the Guarantor, pursuant in either case to an
applicable Board Resolution, or the Holders of at least 10% in principal amount
of the Outstanding Securities of any series shall have requested the Trustee to
call a meeting of the Holders of Securities of such series for any purpose
specified in Section 1501, by written request setting forth in reasonable
detail the action proposed to be taken at the meeting, and the Trustee shall
not have made the first publication of the notice of such meeting within
21 days after receipt of such request or shall not thereafter proceed to
cause the meeting to be held as provided herein, then the Company, the
Guarantor 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
Borough of Manhattan, The City of New York or in London for such meeting and
may call such meeting for such purposes by giving notice thereof as provided in
subsection (a) 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, the Guarantor and their
respective counsel.

 

Section 1504        Quorum;
Action.  The Persons entitled to vote a majority in
principal amount of the Outstanding Securities of a series shall constitute a
quorum for a 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
not less than a specified percentage in principal amount of the Outstanding
Securities of a series, the Persons entitled to vote such specified percentage
in principal amount of the Outstanding Securities of such series shall
constitute a quorum.  In the absence of a
quorum within 30 minutes of the time appointed for any such meeting, the
meeting shall, if convened at the request of Holders of Securities of such
series, be dissolved.  In any other case
the meeting may be adjourned for a period of not less than 10 days as determined
by the chairman of the meeting prior to the adjournment of such meeting.  In the absence of a quorum at any such
adjourned meeting, such adjourned meeting may be further adjourned for a period
of not less than 10 days as determined by the chairman of the meeting prior to
the adjournment of such adjourned meeting. 
Notice of the reconvening of any adjourned meeting shall be given as
provided in Section 1502(a), 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 any adjourned meeting shall state expressly the percentage,
as provided above, of the 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 by the affirmative vote of the Holders of a majority
in principal amount of the Outstanding 

 

90

 

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 action 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 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 specified
percentage in principal amount of the Outstanding Securities of that 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 related coupons, whether
or not present or represented at the meeting.

 

Notwithstanding
the foregoing provisions of this Section 1504, if any action is to be
taken at a meeting of Holders of Securities of any series with respect to any
request, demand, authorization, direction, notice, consent, waiver or other
action that this Indenture expressly provides may be made, given or taken by
the Holders of a specified percentage in principal amount of all Outstanding
Securities affected thereby, or of the Holders of such series and one or more
additional series:

 

(i)            there shall be no minimum quorum
requirement for such meeting; and

 

(ii)           the principal amount of the
Outstanding Securities of such series that vote in favor of such request,
demand, authorization, direction, notice, consent, waiver or other action shall
be taken into account in determining whether such request, demand,
authorization, direction, notice, consent, waiver or other action has been
made, given or taken under this Indenture.

 

Section 1505        Determination
of Voting Rights; Conduct and Adjournment of Meetings.  (a)  Notwithstanding any provisions of this Indenture, the Trustee
may make such reasonable regulations as it may deem advisable for any meeting
of Holders of Securities of a 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.

 

(b)   The
Trustee shall, by an instrument in writing appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company, the
Guarantor or by Holders of Securities as provided in Section 1502(b), in
which case the Company, the Guarantor 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 

 

91

 

shall be elected by vote of the Persons entitled to vote a majority in
principal amount of the Outstanding Securities of such series represented at
the meeting.

 

(c)   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 the Outstanding 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.  The chairman of the
meeting shall have no right to vote, except as a Holder of a Security of such
series or proxy.

 

(d)   Any
meeting of Holders of Securities 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 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 duplicate 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
fact, 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, to the Guarantor 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.

 

Section 1507        Action
Without Meeting.  In lieu of a vote of Holders at a meeting as hereinbefore contemplated in
this Article, any request, demand, authorization, direction, notice, consent,
waiver or other action may be made, given or taken by Holders by written
instruments as provided in Section 104.

 

For the avoidance of doubt, the provisions of
Articles 86 to 94–8 of the Luxembourg law on commercial companies dated August 10,
1915, as amended, are hereby excluded.

 

92

 

ARTICLE XVI

 

GUARANTEE OF SECURITIES

 

Section 1601        Guarantee.  This Section 1601 and Section 1602 apply to the Securities of
any series to the extent that the form of the Guarantee to be endorsed on such
Securities is not otherwise specifically established as contemplated by
Sections 301 and 204.

 

The
Guarantor hereby fully and unconditionally guarantees to each Holder of a
Security of each series authenticated and delivered by the Trustee the due and
punctual payment of the principal (including any amount due in respect of
original issue discount) of and any premium and interest on and Additional
Amounts with respect to such Security, and the due and punctual payment of any
sinking fund payments provided for pursuant to the terms of such Security, when
and as the same shall become due and payable, whether at the Stated Maturity,
by declaration of acceleration, call for redemption or otherwise, in accordance
with the terms of such Security and of this Indenture. The Guarantor hereby
agrees that its obligations hereunder shall be as if it were a principal debtor
and not merely a surety, and shall be absolute, irrevocable by the Guarantor
and unconditional, irrespective of, and shall be unaffected by, any invalidity,
irregularity or unenforceability of any Security of any series or this
Indenture or to bring any action to enforce the same, any failure to enforce
the provisions of any Security of any series or this Indenture, any waiver,
modification, consent or indulgence granted to the Company with respect
thereto, by the Holder of any Security of any series or the Trustee, or any
other circumstances which may otherwise constitute a legal or equitable
discharge or defense of a surety or guarantor. 
The Guarantor hereby waives diligence, presentment, demand of payment,
filing of claims with a court in the event of insolvency or bankruptcy of the
Company, any right to require a proceeding first against the Company, the
benefit of discussion, protest or notice with respect to any Security or the
indebtedness evidenced thereby or with respect of any sinking fund payment
required pursuant to the terms of a Security issued under this Indenture and
all demands whatsoever, and covenants that this Guarantee will not be
discharged with respect to any Security except by payment in full of the
principal thereof and any premium, interest and Additional Amounts (if any) thereon
or as provided in Article IV, Section 802 or Article XIV.  The Guarantor further agrees that, as between
the Guarantor, on the one hand, and the Holders and the Trustee, on the other
hand, the Maturity of the obligations guaranteed hereby may be accelerated as
provided in Article V hereof for the purposes of this Guarantee,
notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby.

 

This
Guarantee shall continue to be effective or be reinstated, as the case may be,
if at any time payment on any Security, in whole or in part, is rescinded or reduced
in amount or must otherwise be restored or returned to the Company or the
Guarantor upon the bankruptcy, liquidation or reorganization of the Company or
otherwise.

 

The
Guarantor hereby waives, in favor of the Holders and the Trustee, any and all
of its rights, protections, privileges and defenses provided by any applicable
law to a guarantor and waives any right of set-off which the Guarantor may have
against the Holder of a Security in respect of any amounts which are or may
become payable by the Holder of a Security to the Company.

 

The
Guarantor shall be subrogated to all rights of each Holder of Securities
against the Company in respect of any amounts paid to such Holder by the
Guarantor pursuant to the provisions of this Guarantee; provided, however, that
the Guarantor shall not be entitled to enforce, or to receive any payments
arising out of or based upon, such right of subrogation until 

 

93

 

the principal of and any premium and interest on all
the Securities of the same series and of like tenor shall have been paid in
full.

 

The
Guarantee shall be governed by and construed in accordance with the laws of the
State of New York.  The Guarantor agrees
to pay any and all costs and expenses (including reasonable attorneys’ fees and
expenses) incurred by the Trustee or any Holders in enforcing any rights under
the Guarantee.

 

No
past, present or future stockholder, officer, director, employee or
incorporator of the Guarantor shall have any personal liability under the
Guarantee set forth in this Section 1601 by reason of his or its status as
such stockholder, officer, director, employee or incorporator.

 

The
Guarantee set forth in this Section 1601 shall not be valid or become
obligatory for any purpose with respect to a Security until the certificate of
authentication on such Security shall have been signed by or on behalf of the
Trustee.

 

Section 1602        Execution
of Guarantee.  To evidence its Guarantee to the Holders specified in Section 1601,
the Guarantor hereby agrees to execute the Guarantee in substantially the form
set forth in Section 204 to be endorsed on each Security authenticated and
delivered by the Trustee.  The Guarantor
hereby agrees that its Guarantee set forth in Section 1601 shall remain in
full force and effect notwithstanding any failure to endorse on each Security
such Guarantee.  Each such Guarantee
shall be signed on behalf of the Guarantor, by its President, one of its Vice
Presidents, its Treasurer or its Secretary prior to the authentication of the
Security on which it is endorsed, and the delivery of such Security by the
Trustee, after the due authentication thereof by the Trustee hereunder, shall
constitute due delivery of the Guarantee on behalf of the Guarantor.  Such signatures upon the Guarantee may be
manual or facsimile signatures of any present, past or future such officers and
may be imprinted or otherwise reproduced below the Guarantee, and in case any
such officer who shall have signed the Guarantee shall cease to hold such
offices before the Security on which such Guarantee is endorsed shall have been
authenticated and delivered by the Trustee or disposed of by the Company, such
Security nevertheless may be authenticated and delivered or disposed of as
though the person who signed the Guarantee had not ceased to hold such office
of the Guarantor.

 

*   *  
*   *   *

 

94

 

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

 

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

 

	
   

  	
  JOHN DEERE FUNDING S.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James A. Davlin

  
	
   

  	
  Name: James A. Davlin

  
	
   

  	
  Title:   Director

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas C.
  Spitzfaden

  
	
   

  	
  Name: Thomas C.
  Spitzfaden

  
	
   

  	
  Title:
    Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  DEERE &
  COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James A. Davlin

  
	
   

  	
  Name: James A. Davlin

  
	
   

  	
  Title:   Vice
  President and Treasurer

  
	
   

  	
   

  
	
  [SEAL]

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK
  MELLON

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ L. O’Brien

  
	
   

  	
  Name: L. O’Brien

  
	
   

  	
  Title:   Vice
  President

  

 

95

 

EXHIBIT A

FORMS OF CERTIFICATION

 

EXHIBIT
A-1

 

FORM OF
CERTIFICATE TO BE GIVEN BY PERSON ENTITLED

TO
RECEIVE BEARER SECURITY OR TO OBTAIN INTEREST

PAYABLE
PRIOR TO THE EXCHANGE DATE

 

CERTIFICATE

 

[Insert title or
sufficient description of Securities to be delivered]

 

This is to certify that,
as of the date hereof, and except as set forth below, the above-captioned
Securities held by you for our account (i) are owned by person(s) that
are not citizens or residents of the United States, domestic partnerships,
domestic corporations, any estate the income of which is subject to United
States federal income taxation regardless of its source or any trust if a court
within the United States is able to exercise primary supervision over the
administration of the trust and one or more United States persons have the
authority to control all substantial decisions of the trust (“United States
person(s)”), (ii) are owned by United States person(s) that are (a) foreign
branches of United States financial institutions (financial institutions, as
defined in United States Treasury Regulations Section 1.165-12(c)(1)(v) are
herein referred to as “financial institutions”) purchasing for their own
account or for resale, or (b) United States person(s) who acquired
the Securities through foreign branches of United States financial institutions
and who hold the Securities through such United States financial institutions
on the date hereof (and in either case (a) or (b), each such United States
financial institution hereby agrees, on its own behalf or through its agent,
that you may advise John Deere Funding S.A. or its agent that such financial
institution will comply with the requirements of Section 165(j)(3)(A), (B) or
(C) of the United States Internal Revenue Code of 1986, as amended, and
the regulations thereunder), or (iii) are owned by United States or
foreign financial institution(s) for purposes of resale during the
restricted period (as defined in United States Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)),
and, in addition, if the owner is a United States or foreign financial
institution described in clause (iii) above (whether or not also
described in clause (i) or (ii)), this is to further certify that
such financial institution has not acquired the Securities for purposes of
resale directly or indirectly to a United States person or to a person within
the United States or its possessions.

 

As used herein, “United
States” means the United States of America (including the States and the
District of Columbia); and its “possessions” include Puerto Rico, the U.S.
Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana
Islands.

 

We undertake to advise
you promptly by tested telex on or prior to the date on which you intend to
submit your certification relating to the above-captioned Securities held by
you for our account in accordance with your Operating Procedures if any
applicable statement herein is not correct on such date, and in the absence of
any such notification it may be assumed that this certification applies as of
such date.

 

A-1-1

 

This certificate excepts
and does not relate to [U.S.$]                    of
such interest in the above-captioned Securities in respect of which we are not
able to certify and as to which we understand an exchange for an interest in a
Permanent Global Security or an exchange for and delivery of definitive
Securities (or, if relevant, collection of any interest) cannot be made until
we do so certify.

 

We understand that this
certificate may be required in connection with certain tax legislation in the
United States.  If administrative or
legal proceedings are commenced or threatened in connection with which this
certificate is or would be relevant, we irrevocably authorize you to produce this
certificate or a copy thereof to any interested party in such proceedings.

 

	
  Dated:

  	
                                  

  	
  ,

  	
   

  

 

To be dated no earlier
than the 15th day prior to (i) the Exchange Date or (ii) the relevant
Interest Payment Date occurring prior to the Exchange Date, as applicable]

 

	
   

  	
  [Name of Person Making
  Certification]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (Authorized Signatory)

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

A-1-2

 

FORM OF
CERTIFICATE TO BE GIVEN BY EUROCLEAR AND

CLEARSTREAM
IN CONNECTION WITH THE EXCHANGE OF

A PORTION
OF A TEMPORARY GLOBAL SECURITY

OR TO
OBTAIN INTEREST PAYABLE PRIOR

TO THE
EXCHANGE DATE

 

CERTIFICATE

 

[Insert title or
sufficient description of Securities to be delivered]

 

This is to certify that,
based solely on certifications that we have received in writing, by tested
telex or by electronic transmission from each of the persons appearing in our
records as persons entitled to a portion of the principal amount set forth
below (our “Member Organizations”) substantially in the form attached hereto,
as of the date hereof, [U.S.$] [        ]
principal amount of the above-captioned Securities (i) is owned by person(s) that
are not citizens or residents of the United States, domestic partnerships,
domestic corporations, any estate the income of which is subject to United
States federal income taxation regardless of its source or any trust if a court
within the United States is able to exercise primary supervision over the
administration of the trust and one or more United States persons have the
authority to control all substantial decisions of the trust (“United States
person(s)”), (ii) is owned by United States person(s) that are (a) foreign
branches of United States financial institutions (financial institutions, as
defined in U.S. Treasury Regulations Section 1.165-12(c)(1)(v) are
herein referred to as “financial institutions”) purchasing for their own
account or for resale, or (b) United States person(s) who acquired
the Securities through foreign branches of United States financial institutions
and who hold the Securities through such United States financial institutions
on the date hereof (and in either case (a) or (b), each such
financial institution has agreed, on its own behalf or through its agent, that
we may advise John Deere Funding S.A. or its agent that such financial
institution will comply with the requirements of Section 165(j)(3)(A), (B) or
(C) of the Internal Revenue Code of 1986, as amended, and the regulations
thereunder), or (iii) is owned by United States or foreign financial
institution(s) for purposes of resale during the restricted period (as
defined in United States Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)),
and, to the further effect, that financial institutions described in
clause (iii) above (whether or not also described in clause (i) or
(ii)) have certified that they have not acquired the Securities for purposes of
resale directly or indirectly to a United States person or to a person within
the United States or its possessions.

 

As used herein, “United
States” means the United States of America (including the States and the
District of Columbia); and its “possessions” include Puerto Rico, the U.S.
Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana
Islands.

 

We further certify that (i) we
are not making available herewith for exchange (or, if relevant, collection of
any interest) any portion of the temporary global Security representing the
above-captioned Securities excepted in the above-referenced certificates of Member
Organizations and (ii) as of the date hereof we have not received any
notification from any of our Member Organizations to the effect that the
statements made by such Member Organizations 

 

A-2-1

 

with respect to any
portion of the part submitted herewith for exchange (or, if relevant,
collection of any interest) are no longer true and cannot be relied upon as of
the date hereof.

 

We understand that this
certification is required in connection with certain tax legislation in the
United States.  If administrative or
legal proceedings are commenced or threatened in connection with which this
certificate is or would be relevant, we irrevocably authorize you to produce
this certificate or a copy thereof to any interested party in such proceedings.

 

	
  Dated:

  	
                                  

  	
  ,

  	
   

  

 

[To be dated no earlier
than the Exchange Date or the relevant Interest Payment Date occurring prior to
the Exchange Date, as applicable]

 

	
   

  	
  [EUROCLEAR BANK
  S.A./N.V.]

  
	
   

  	
  [CLEARSTREAM BANKING
  SOCIÉTÉ ANONYME]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  

 

A-2-2Filed by sedaredgar.com - USR Technology , Inc. - Exhibit 10.1

ASSET PURCHASE AGREEMENT

THIS AGREEMENT dated for reference the 26th day of
September, 2008.

	AMONG: 
	               
                         
         EUROSLOT S.A.S., a corporation existing under the laws
      of France with a 
	               
                         
         registered office at ZA Les Priedons Sud, 86140
      Scorbe-Clairvaux, France 
	 
	               
                         
         (herein called “Vendor”) 
	AND: 
	               
                         
         USR TECHNOLOGY, INC., a corporation existing under the
      laws of the State 
	               
                         
         of Nevada with its executive office at 20333 State Hwy. 249,
      Suite 200, 
	               
                         
         Houston, Texas 
	 
	               
                         
         (herein called “Purchaser”) 

WHEREAS:
The Vendor owns a technology it invented and
developed for manufacturing articulated downhole screen filters for use in oil
and gas drilling operations to eliminate solid particles contained in
hydrocarbons prior to transporting them out to the surface (such articulated
downhole screen filters are herein called the “Products”).

A.      The Vendor has agreed to sell
and the Purchaser has agreed to purchase a US $1,000,000 fixed credit supply of
Products (the “Purchased Asset”);

B.      The Purchase Price for the
Purchased Asset will be payable by the issuance of 1,000,000 restricted
post-consolidation shares of common stock of the Purchaser (3,000,000
pre-consolidated restricted shares of common stock) at a deemed price of US
$1.00 per share. 

C.      On this day, a License
Agreement (attached hereto in Schedule 4) is signed between the Vendor and the
Purchaser regarding the use of certain IP Rights. These License Agreement and
Asset Purchase Agreement form the complete agreement of the parties and are
indissociable. Both agreements will take effect on the same day. 

NOW THEREFORE in consideration of the premises and the
respective covenants, agreements representations, warranties and indemnities of
the parties herein contained and for other good and valuable consideration (the
receipt and sufficiency of which is hereby acknowledged) the parties hereto
covenant and agree as follows:

	1. 	
      DEFINED TERMS

	 	 	 
	1.1 	
      For the purposes of this Agreement, unless the context
      otherwise requires, the following terms will have the respective meanings
      set out below and grammatical variations of such terms will have
      corresponding meanings:

	 	 	 
		(a) 	
      “Affiliate” has the meaning given to that term in Article
      L.233-3 of the French Commercial code or in the Securities Act of 1933, as
      amended, and the Rules and Regulations of the Securities and Exchange
      Commissions promulgated thereunder;

	 	 	 
		(b) 	
      “Purchased Asset” means the business assets as described
      in Recital B of this Agreement;

	 	 	 
		(c) 	
      “Business Day” means any day which is not a Saturday,
      Sunday or statutory holiday in the United States and
  France;

- 2 -

		(d) 	
      “Closing” means the completion of the transactions
      contemplated in this Asset Purchase Agreement;

	 	 	 
		(e) 	
      “Closing Date” means September 26, 2008, or such other
      date as the Vendor and the Purchaser may mutually determine;

	 	 	 
		(f) 	
      “Contract” means any agreement, indenture, contract,
      lease, deed of trust, license, option, instrument or other commitment,
      whether written or oral;

	 	 	 
		(g) 	
      “Encumbrance” means any encumbrance, lien, charge,
      hypothec, pledge, mortgage, title retention agreement, security interest
      of any nature, adverse claim, exception, reservation, easement, right of
      occupation, any matter capable of registration against title, option,
      right of pre-emption, privilege or any Contract to create any of the
      foregoing;

	 	 	 
		(h) 	
      ”Licenses” means all licenses, permits, approvals,
      consents, certificates, registrations and authorizations (whether
      governmental, regulatory, or otherwise) required for the conduct in the
      ordinary course of the uses to which the Assets have been put;

	 	 	 
		(i) 	
      “Losses” means, in respect of any matter, all claims,
      demands, proceedings, losses, damages, liabilities, deficiencies, costs
      and expenses (including, without limitation, all legal and other
      professional fees and disbursements, interest, penalties and amounts paid
      in settlement) arising directly or indirectly as a consequence of such
      matter and actually incurred by a party entitled to be indemnified
      hereunder, net of (i) any tax adjustments, benefits, savings or reductions
      to which such indemnified party is entitled resulting from such matter,
      and (ii) any insurance proceeds, in either case to which such indemnified
      party is entitled by virtue of such claims, demands, proceedings, losses,
      damages, liabilities, deficiencies, costs and expenses;

	 	 	 
		(j) 	
      “Purchase Price” means the aggregate sum payable by the
      Purchaser to the Vendor for the Purchased Asset.

	 	 	 
	1.2 	
      Currency. Unless otherwise indicated, all dollar
      amounts in this Agreement are expressed in United States funds.

	 	 	 
	1.3 	
      Sections and Headings. The division of this
      Agreement into Articles, sections and subsections and the insertion of
      headings are for convenience of reference only and will not affect the
      interpretation of this Agreement. Unless otherwise indicated, any
      reference in this Agreement to an Article, section, subsection or Schedule
      refers to the specified Article, section or subsection of or Schedule to
      this Agreement.

	 	 	 
	1.4 	
      Number, Gender and Persons. In this Agreement,
      words importing the singular number only will include the plural and vice
      versa, words importing gender will include all genders and words importing
      persons will include individuals, corporations, partnerships,
      associations, trusts, unincorporated organizations, governmental bodies
      and other legal or business entities of any kind whatsoever.

	 	 	 
	1.5 	
      Accounting Principles. Except as otherwise stated,
      any reference in this Agreement to generally accepted accounting
      principles refers to generally accepted accounting principles that have
      been established in the United States of America, including those approved
      from time to time by the American Institute of Certified Public
      Accountants or any successor body thereto.

	 	 	 
	1.6 	
      Entire Agreement. This Agreement constitutes the
      entire agreement between the parties with respect to the subject matter
      hereof and supersedes all prior agreements, understandings, negotiations
      and discussions, whether written or oral. There are no conditions,
      covenants, agreements, representations, warranties or other provisions,
      express or implied, collateral, statutory or otherwise, relating to the
      subject matter hereof except as herein provided.

	 	 	 
	1.7 	
      Time of Essence. Time will be of the essence of
      this Agreement.

- 3 -

	1.8 	
      Applicable Law. This Agreement will be construed,
      interpreted and enforced in accordance with, and the respective rights and
      obligations of the parties will be governed by, the laws of England. All
      claim demands, disputes, controversies, differences, or misunderstandings
      between the Parties relating to this Agreement shall be settled by
      arbitration before one arbitrator to be appointed in accordance with the
      International Chamber of Commerce, such proceeding to be held in London in
      the English language and judgment upon the award rendered by the
      arbitrator may be entered in any court having jurisdiction
  thereof..

	 	 
	1.9 	
      Amendments and Waivers. No amendment or waiver of
      any provision of this Agreement will be binding on either party unless
      consented to in writing by such party. No waiver of any provision of this
      Agreement will constitute a waiver of any other provision, nor will any
      waiver constitute a continuing waiver unless otherwise provided.

	 	 
	1.10 	
      Adjustments for Stock Splits, Etc.. Wherever in
      this Agreement there is a reference to a specific number of shares of
      stock of the Company, then, upon the occurrence of any subdivision,
      combination or stock dividend of such stock, the specific number of shares
      so referenced in this Agreement shall automatically be proportionally
      adjusted to reflect the effect on the outstanding shares of such class or
      series of stock by such subdivision, combination or stock
  dividend.

	 	 
	1.11 	
      Schedules. The following Schedules are attached to
      and form part of this Agreement: All terms defined in the body of this
      Agreement will have the same meaning in the Schedule attached
  hereto

	 	Schedule 1 	Description of Purchased Asset
    
	 	Schedule 2 	Intellectual Property: Vendor Patent and
      Trademark 
	 	Schedule 3 	Consents 
	 	Schedule 4 	License Agreement 
	 	Schedule 5 	Subscription Agreement
  

	2. 	
      PURCHASE AND SALE

	 	 
	2.1 	
      Subject to the terms and conditions of this Agreement,
      effective as at the Closing Date the Vendor will sell, transfer, and
      assign to the Purchaser and the Purchaser agrees to purchase from the
      Vendor, free and clear of all Encumbrances the Purchased Asset.

	 	 
	3. 	
      PURCHASE PRICE AND ALLOCATION

	 	 
	3.1 	
      The Purchase Price payable by the Purchaser to the Vendor
      for the Purchased Asset shall consist of 1,000,000 shares of
      post-consolidation restricted common stock of the Purchaser (3,000,000
      pre- consolidated restricted shares of common stock) at a deemed price of
      US $1.00 per share (the “Purchase Shares”). A 3:1 consolidation of USR
      Technology, Inc’s share capital took place on September 17, 2008. On or
      prior to the Closing Date, the Purchaser and the Vendor shall enter into a
      subscription agreement in regards to the Purchase Shares, as detailed in
      Schedule 5. On the Closing date, the Purchaser shall instruct its transfer
      agent to issue the Purchase Shares to the Vendor. In any case, this
      Agreement shall take effect on the day of issuance and attribution of the
      Purchase Shares to the Vendor.

	 	 
	4. 	
      PAYMENT OF THE PURCHASE PRICE

	 	 
	4.1 	
      The Purchase Price will be paid in full by the issuance
      by the Purchaser to the Vendor of the Purchase Shares in one instalment on
      the Closing Date.

	 	 
	5. 	
      CLOSING, POSSESSION, AND NO
    ADJUSTMENTS

	 	 
	5.1 	
      The Closing will take place on September 26, 2008 at
      11:00AM (PST), on the Closing Date at the offices of Macdonald Tuskey, or
      at such other place, date, and time as may be mutually agreed upon by the
      parties hereto.

- 4 -

	5.2 	
      The Vendor will deliver possession of the Purchased
      Asset, free of any other claim to possession and any tenancies, to the
      Purchaser on the Closing Date. In this respect, the Vendor will deliver to
      the Purchaser a credit note relating to the purchase of the Products with
      a total credit value of US $1,000,000.

	 	 	 	 
	5.3 	
      Provided that there has been no material
      misrepresentation on the part of the parties to this agreement and all of
      their respective obligations under this Agreement have been fulfilled,
      there will be no adjustment of the Purchase Price for any reason
      whatsoever.

	 	 	 	 
	6. 	
      REPRESENTATIONS AND WARRANTIES OF THE
      VENDOR

	 	 	 	 
	6.1 	
      The Vendor represents and warrants to the Purchaser, with
      the intent that the Purchaser will rely thereon in entering into this
      Agreement and in concluding the transactions contemplated hereby, as
      follows:

	 	 	 	 
		(a) 	
      the execution and delivery of this Agreement and the
      completion of the transaction contemplated hereby have been duly and
      validly authorized by all necessary limited liability company action on
      the part of the Vendor, and this Agreement constitutes a valid and binding
      obligation of the Vendor enforceable against the Vendor in accordance with
      its terms; except as enforcement may be limited by bankruptcy, insolvency
      and other laws affecting the rights of creditors generally and except that
      equitable remedies may be granted only in the discretion of a court of
      competent jurisdiction;

	 	 	 	 
		(b) 	
      except as will be remedied by the consents, approvals,
      releases, and discharges described in Schedule 3 - Consents attached
      hereto, neither the execution and delivery of this Agreement nor the
      performance of the Vendor’s obligations hereunder will:

	 	 	 	 
			(i) 	
      violate or constitute default under any order, decree,
      judgment, statute, by-law, rule, regulation, or restriction applicable to
      the Vendor, the Purchased Asset, or any contract, agreement, instrument,
      covenant, mortgage, or security, to which the Vendor is a party or which
      are binding upon the Vendor,

	 	 	 	 
			(ii) 	
      to the knowledge of the Vendor, result in any fees,
      duties, taxes, assessments, penalties or other amounts becoming due or
      payable by the Purchaser under any sales tax legislation. .

	 	 	 	 
			(iii) 	
      give rise to the creation or imposition of any
      Encumbrance on the Purchased Asset,

	 	 	 	 
			(iv) 	
      violate or constitute default under any license, permit,
      approval, consent or authorization held by the Vendor, or

	 	 	 	 
			(v) 	
      violate or trigger any liability on behalf of the
      Purchaser pursuant to any legislation governing the sale of the Purchased
      Asset by the Vendor.

	 	 	 	 
		(c) 	
      the Vendor owns and possesses and has good and marketable
      title to the Purchased Asset free and clear of all Encumbrances of every
      kind and nature whatsoever;

	 	 	 	 
		(d) 	
      the Vendor does not have any indebtedness in excess of
      $10,000.00 which might by operation of law or otherwise now or hereafter
      constitute an Encumbrance upon the Purchased Asset;

	 	 	 	 
		(e) 	
      no person other than the Purchaser has any written or
      oral agreement or option or any right or privilege (whether by law,
      pre-emptive or contractual) capable of becoming an agreement or option for
      the purchase or acquisition from the Vendor of the Purchased
  Asset;

	 	 	 	 
		(f) 	
      except as otherwise provided herein, this Agreement
      discloses all contracts, engagements, and commitments, whether oral or
      written, relating to the Purchased Asset including in particular
      contracts, engagements, and commitments:

	 	 	 	 
			(i) 	
      out of the ordinary course of
business,

- 5 -

	 	 	(ii)	
       which entail the payment of in excess of $10,000.00
      during any one year period,

	 	 	 	 
	 	 	(iii)	
       respecting ownership of or title to any interest or
      claim in or to any real or personal property making up the Purchased
      Asset,

	 	 	 	 
	 	 	(iv) 	
      respecting any agreement of guarantee, support,
      indemnification, assumption or endorsement of, or any similar commitment
      with respect to, the obligations, liabilities (whether accrued, absolute,
      contingent or otherwise) or indebtedness of any other person except for
      cheques endorsed for collection in the ordinary course of the
    business;

	 	 	 	 
	 	 	(v)	
       any confidentiality, secrecy or non-disclosure
      contract, (whether the Vendor is a beneficiary or obligant thereunder)
      relating to any proprietary or confidential information or any
      non-competition or similar contract;

	 	 	 	 
	 	 	(vi) 	
      there has not been any default in any obligation or
      liability in respect of said contracts, engagements, or commitments by the
      Vendor and the Vendor has performed all of the material obligations
      required to be performed by it and is entitled to all benefits under any
      contracts;

	 	 	 	 
	 	 	(vii)	
       there has not been any amendment, modification,
      variation, surrender, or release of said contracts, engagements, and
      commitments; and

	 	 	 	 
	 	 	(viii) 	
      each of said contracts, engagements, and commitments is
      in good standing and in full force and effect and the Vendor has performed
      all of the material obligations required to be performed by it and is
      entitled to all benefits thereunder, and is not in default or alleged to
      be in default in respect of any material contract or any other contracts,
      engagements or commitments provided for in this Agreement, to which the
      Vendor is a party or by which it is bound;

	 	 	 	 
	 	(g) 	
      all material Licenses required for the uses to which the
      Purchased Asset have been put have been obtained and are in good standing
      and such conduct and uses are in compliance in all material respects with
      such licenses and permits and with all laws, zoning and other bylaws,
      building and other restrictions, rules, regulations, and ordinances
      applicable to the Purchased Asset and neither the execution and delivery
      of this Agreement nor the completion of the purchase and sale hereby
      contemplated will give any person the right to terminate or cancel the
      said licenses or permits or affect such compliance;

	 	 	 
	 	(h) 	
      there are no actions, suits, proceedings, investigations,
      complaints, orders, directives, or notices of defect or noncompliance by
      or before any court, governmental or domestic commission, department,
      board, tribunal, or authority, or administrative, licensing, or regulatory
      agency, body, or officer issued, pending, or to the best of the Vendor’s
      knowledge threatened against or affecting the Vendor or in respect of the
      Purchased Asset;

	 	 	 
	 	(i) 	
      there is no requirement applicable to the Vendor to make
      any filing with, give any notice to or to obtain any license, permit,
      certificate, registration, authorization, consent or approval of, any
      governmental or regulatory authority as a condition to the lawful
      consummation of the transactions contemplated by this Agreement, except
      for the filings, notifications, licenses, permits, certificates,
      registrations, consents and approvals described in Schedule 3 - Consents,
      or that relate solely to the identity of the Purchaser or the nature of
      any business carried on by the Purchaser except for the notifications,
      consents and approvals described in Schedule 3 - Consents;

	 	 	 
	 	(j) 	
      Vendor has filed or caused to be filed all material tax
      returns of Vendor which have become due (taking into account valid
      extensions of time to file) prior to the date hereof, such returns are
      accurate and complete in all material respects and Vendor has paid or
      caused to be paid all taxes due, in each case to the extent Purchaser
      would incur liability for Vendor’s failure to file such returns or pay
      such taxes. There are no outstanding tax liens that have been filed by any
      tax

- 6 -

			authority against the Purchased Asset. No claims are
      being asserted in writing with respect to any taxes relating to the
      Vendor’s business for which Purchaser reasonably could be held liable and
      Vendor knows of no basis for the assertion of any such claim;
	 	 	 
		(k) 	
      the Vendor has never received any notice of or been
      prosecuted for non-compliance with any Environmental Laws, nor has the
      Vendor settled any allegation of non-compliance short of prosecution.
      There are no orders or directions relating to environmental matters
      requiring any work, repairs or construction or capital expenditures to be
      made with respect to the Purchased Asset, nor has the Vendor received
      notice of any of the same;

	 	 	 
		(l) 	
      Schedule 2 - Intellectual Property, sets out all
      registered or pending Intellectual Property (including particulars of
      registration or application for registration, continuances, or PCT’s) and
      all licenses, registered user agreements and other contracts that comprise
      or relate to Intellectual Property. The Intellectual Property comprises
      all trade or brand names, business names, trade marks, service marks,
      copyrights, patents, trade secrets, know-how, inventions, designs and
      other industrial or intellectual property necessary for use with the
      Assets. The Vendor is the beneficial owner of the Intellectual Property,
      free and clear of all Encumbrances, and is not a party to or bound by any
      contract or any other obligation whatsoever that limits or impairs its
      ability to sell, transfer, assign or convey, or that otherwise affects,
      the Intellectual Property. No person has been granted any interest in or
      right to use all or any portion of the Intellectual Property. The use of
      the Assets does not infringe upon the industrial or intellectual property
      rights, domestic or foreign, of any other person. The Vendor is not aware
      of a claim of any infringement or breach of any industrial or intellectual
      property rights of any other person, nor has the Vendor received any
      notice that the use of the Assets, including the use of the Intellectual
      Property, infringes upon or breaches any industrial or intellectual
      property rights of any other person, and the Vendor, after due inquiry,
      has no knowledge of any infringement or violation of any of its rights in
      the Intellectual Property. The Vendor is not aware of any state of facts
      that casts doubt on the validity or enforceability of any of the
      Intellectual Property. The Vendor has provided to the Purchaser a true and
      complete copy of all contracts and amendments thereto that comprise or
      relate to the Intellectual Property; and

	 	 	 
		(m) 	
      there are no liabilities of the Vendor or its associates
      or Affiliates, whether or not accrued and whether or not determined or
      determinable, in respect of which the Purchaser may become liable on or
      after the Closing Date.

	 	 	 
	7. 	
      REPRESENTATIONS OF THE PURCHASER

	 	 	 
	7.1 	
      The Purchaser represents and warrants to the Vendor as
      follows, with the intent that the Vendor will rely thereon in entering
      into this Agreement and in concluding the purchase and sale contemplated
      hereby, that:

	 	 	 
		(a) 	
      the Purchaser is a corporation duly incorporated, validly
      existing, and in good standing under the laws of the State of Nevada and
      has the power, authority, and capacity to enter into this Agreement and to
      carry out its terms;

	 	 	 
		(b) 	
      the execution and delivery of this Agreement and the
      completion of the transactions contemplated hereby has been duly and
      validly authorized by all necessary corporate action on the part of the
      Purchaser, and this Agreement constitutes a valid and binding obligation
      of the Purchaser enforceable against the Purchaser in accordance with its
      terms; except as enforcement may be limited by bankruptcy, insolvency and
      other laws affecting the rights of creditors generally and except that
      equitable remedies may be granted only in the discretion of a court of
      competent jurisdiction;

	 	 	 
		(c) 	
      there is no requirement for the Purchaser to make any
      filing with, give any notice to or obtain any license, permit,
      certificate, registration, authorization, consent or approval of, any
      government or regulatory authority as a condition to the lawful
      consummation of the transactions contemplated by this
  Agreement;

- 7 -

		(d) 	
      neither the execution and delivery of this Agreement nor
      the performance of the Purchaser’s obligations hereunder will violate or
      constitute a default under the constating documents, by-laws, or articles
      of the Purchaser, any order, decree, judgment, statute, by-law, rule,
      regulation, or restriction applicable to the Purchaser, or any contract,
      agreement, instrument, covenant, mortgage or security to which the
      Purchaser is a party or which are binding upon the Purchaser;

	 	 	 
		(e) 	
      Purchaser has made available to the Vendor a true and
      complete copy of each annual, quarterly and other reports, registration
      statements (without exhibits) filed by Purchaser with the Securities and
      Exchange Commission (the “SEC”) since September 17, 2008 (the “Purchaser
      SEC Documents”). As of their respective filing dates, the Purchaser SEC
      Documents complied in all material respects with the requirements of the
      Securities Act and the Securities Exchange Act of 1934, as amended (the
      “Exchange Act”), as the case may be, and the rules and regulations of the
      SEC promulgated thereunder applicable to such Purchaser SEC Documents, and
      none of the Purchaser SEC Documents contained on their filing dates any
      untrue statement of a material fact or omitted to state a material fact
      required to be stated therein or necessary to make the statements therein,
      in light of the circumstances under which they were made, not misleading,
      except to the extent corrected by a subsequently filed Purchaser SEC
      Document. The financial statements of Purchaser included in the Purchaser
      SEC Documents (the “Purchaser Financial Statements”) complied as to form
      in all material respects with the published rules and regulations of the
      SEC with respect thereto, were prepared in accordance with generally
      accepted accounting principles applied on a consistent basis throughout
      the periods indicated (except as may be indicated in the notes thereto or,
      in the case of unaudited financial statements, as permitted under Form
      10-QSB under the Exchange Act) and fairly presented the consolidated
      financial position of Purchaser and its consolidated subsidiaries as of
      the respective dates thereof and the consolidated results of Purchaser’s
      operations and cash flows for the periods indicated (subject to, in the
      case of unaudited statements, to normal and recurring year-end audit
      adjustments). There has been no change in Purchaser’s accounting policies,
      except as described in the notes to the Purchaser Financial Statements or
      as required by generally accepted accounting principles. Since the date of
      the most recent balance sheet included in a Purchaser SEC Document, there
      has been no material adverse effect on the business, operations, assets,
      condition (financial or otherwise) or prospects of the
Purchaser;

	 	 	 
		(f) 	
      The authorized stock of the Purchaser consists of
      150,000,000 shares of Common Stock of which 12,658,989 were issued and
      outstanding as of September 17, 2008. The Purchase Price to be issued to
      the Vendor under this Agreement will, when so issued, be duly authorized,
      validly issued, fully paid, non-assessable, free of any Encumbrances and
      not subject to any preemptive rights or rights of first refusal created by
      statute or the charter documents or Bylaws of Purchaser or any agreement
      to which Purchaser is a party or is bound and will be issued in compliance
      with federal and state securities laws; and

	 	 	 
		(g) 	
      except as disclosed in the Purchaser SEC Documents, (i)
      there are no actions, suits, proceedings, investigations, complaints,
      orders, directives, or notices of defect or non-compliance by or before
      any court, governmental or domestic commission, department, board,
      tribunal, or authority, or administrative, licensing, or regulatory
      agency, body, or officer issued, pending, or to the best of the
      Purchaser’s knowledge threatened against or affecting the Purchaser; and
      (ii) the Purchaser is in compliance in all material respects with all
      applicable laws applicable to Purchaser and its business.

	 	 	 
	8. 	
      COVENANTS OF THE VENDOR

	 	 	 
		
      Between the date of this Agreement and the Closing Date,
      the Vendor covenants and agrees that the Vendor:

	 	 	 
		(a) 	
      will maintain sufficient manufacturing capabilities in
      order to ensure the supply of the assets underlying the Purchased Asset
      and will preserve such assets intact without any Encumbrances ;

	 	 	 
		(b) 	
      will maintain insurance coverage of the scope and in the
      amounts now held in full force and effect and will give all notices and
      present all claims under all policies of insurance in a due and timely
      fashion;

- 8 -

		(c) 	
      will use its best efforts to procure and obtain at or
      prior to the Closing Date all such consents, approvals, releases, and
      discharges as may be required to effect the transactions contemplated
      hereby from all federal, state, municipal or other governmental or
      regulatory bodies and from all other third parties as necessary;

	 	 	 
		(d) 	
      at the request of the Purchaser, the Vendor will execute
      such consents, authorizations and directions as may be necessary to enable
      the Purchaser or its authorized representatives to obtain full access to
      all files and records relating to the Purchased Asset maintained by
      governmental or other public authorities;

	 	 	 
		(e) 	
      the Vendor will use its best efforts to take or cause to
      be taken all necessary corporate action, steps and proceedings to approve
      and authorize validly and effectively the transfer of the Purchased Asset
      to the Purchaser and the execution and delivery of this Agreement and any
      other Agreements or documents contemplated hereby and to cause all
      necessary meetings of members or managers of the Vendor to be held for
      such purpose; and

	 	 	 
		(f) 	
      will not, without the prior written consent of the
      Purchaser, enter into any transaction or refrain from doing any action
      that, if effected before the date of this Agreement, would constitute a
      breach of any representation, warranty, covenant or other obligation of
      the Vendor contained herein, and the Vendor will not enter into any
      material supply agreements relating to the Purchased Asset or make any
      material decisions or enter into any material contracts with respect to
      the Purchased Asset without the consent of the Purchaser, which consent
      will not be unreasonably withheld.

	 	 	 
	9. 	
      COVENANTS OF THE PURCHASER

	 	 	 
		
      Between the date of this Agreement and the Closing Date,
      the Purchaser will make all reasonable efforts to obtain and procure in
      co-operation with the Vendor all consents, approvals, releases, and
      discharges required to effect the transactions contemplated
  hereby.

	 	 	 
	10. 	
      NON-COMPETITION

	 	 	 
	10.1 	
      As a condition to, and in consideration of, the Purchaser
      entering into this Agreement and the License Agreement, the Vendor and
      other employees similarly situated to the Vendor, covenant and agree with
      the Purchaser that for a period of 3 years from the Closing Date, it will
      not, either directly or indirectly, as principal, agent, owner, employee,
      partner, shareholder, advisor or otherwise howsoever own, operate or
      engage in the operation of or have any financial interest in or provide,
      directly or indirectly, financial assistance to any business operation,
      whether a proprietorship, partnership, joint venture, private company or
      otherwise howsoever, carrying on or engaged in any business identical with
      or similar to the business carried on by the Purchaser worldwide, other
      than in France, Iran or Russia;

	 	 	 
	10.2 	
      The Vendor acknowledges and agrees that the obligations
      of this Agreement and the License Agreement are directly related to the
      asset purchase and the licensing of the intellectual property rights and
      are necessary to protect the Purchaser’s legitimate business interests;
      and that the Purchaser’s need for the covenants set forth in this
      Agreement is based on the following: (i) the substantial time, money and
      effort expended and to be expended by the Purchaser in developing
      marketing plans and similar confidential information; and (iv) the highly
      competitive nature of the Purchaser’s industry, including the premium that
      competitors of the Purchaser place on acquiring proprietary and
      competitive information;

	 	 	 
	11. 	
      INDEMNIFICATION, REMEDIES,
  SURVIVAL

	 	 	 
	11.1 	
      Certain Definitions

	 	 	 
		
      For the purposes of this Article 11 the terms
      “Loss” and “Losses” mean any and all demands, claims,
      actions or causes of action, assessments, losses, damages, Liabilities,
      costs, and expenses, including without limitation, interest, penalties,
      fines and reasonable attorneys, accountants and other
  professional

- 9 -

		
      fees and expenses, but excluding any indirect,
      consequential or punitive damages including damages for lost profits or
      lost business opportunities.

	 	 	 
	11.2 	
      Agreement of Vendor to Indemnify

	 	 	 
		
      Vendor will indemnify, defend, and hold harmless, to the
      full extent of the law, for a period of three years from the Closing Date,
      the Purchaser and its shareholders from, against, and in respect of any
      and all Losses asserted against, relating to, imposed upon, or incurred by
      the Purchaser and its shareholders by reason of, resulting from, based
      upon or arising out of:

	 	 	 
		(a) 	
      the breach by Vendor of any representation or warranty of
      Vendor contained in or made pursuant to this Agreement, any Vendor
      document or any certificate or other instrument delivered pursuant to this
      Agreement; or

	 	 	 
		(b) 	
      the breach or partial breach by Vendor of any covenant or
      agreement of Vendor made in or pursuant to this Agreement, any Vendor
      document or any certificate or other instrument delivered pursuant to this
      Agreement.

	 	 	 
	11.3 	
      Agreement of Purchaser to Indemnify

	 	 	 
		
      Purchaser will indemnify, defend, and hold harmless, to
      the full extent of the law, for a period of three years from the Closing
      Date, Vendor from, against, for, and in respect of any and all Losses
      asserted against, relating to, imposed upon, or incurred by Vendor by
      reason of, resulting from, based upon or arising out of:

	 	 	 
		(a) 	
      the breach by Purchaser of any representation or warranty
      of Purchaser contained in or made pursuant to this Agreement, any
      Purchaser document or any certificate or other instrument delivered
      pursuant to this Agreement; or

	 	 	 
		(b) 	
      the breach or partial breach by Purchaser of any covenant
      or agreement of Purchaser made in or pursuant to this Agreement, any
      Purchaser document or any certificate or other instrument delivered
      pursuant to this Agreement.

	 	 	 
	12. 	
      NON MERGER

	 	 	 
	12.1 	
      The representations, warranties, covenants, and
      agreements of the Vendor contained herein and those contained in the
      documents and instruments delivered pursuant hereto or in connection
      herewith will survive the Closing Date for a period of eighteen months,
      and notwithstanding the completion of the transactions contemplated
      hereby, the waiver of any condition contained herein (unless such waiver
      expressly releases the Vendor of such representation, warranty, covenant,
      or agreement), or any investigation by the Purchaser, same will remain in
      full force and effect.

	 	 	 
	12.2 	
      The representations, warranties, covenants, and
      agreements of the Purchaser contained herein and those contained in the
      documents and instruments delivered pursuant hereto or in connection
      herewith will survive the Closing Date for a period of eighteen months,
      and notwithstanding the completion of the transactions contemplated
      hereby, the waiver of any condition contained herein (unless such waiver
      expressly releases the Purchaser of such representation, warranty,
      covenant, or agreement), or any investigation by the Vendor, same will
      remain in full force and effect.

	 	 	 
	13. 	
      CONDITIONS PRECEDENT

	 	 	 
	13.1 	
      The obligation of the Purchaser to consummate the
      transactions herein contemplated is subject to the fulfillment of each of
      the following conditions precedent at the times
  stipulated:

- 10 -

	 	(a) 	
      that the representations and warranties of the Vendor
      contained herein are true and correct on and as at the Closing Date with
      the same force and effect as if such representations and warranties were
      made as at the Closing Date, except as may be in writing disclosed to and
      approved by the Purchaser;

	 	 	 
	 	(b) 	
      that all the terms, covenants, conditions, agreements,
      and obligations hereunder on the part of the Vendor to be performed or
      complied with at or prior to the Closing Date, including in particular the
      Vendor’s obligation to deliver the documents and instruments herein
      provided for in Clause 14, have been performed and complied with as at the
      Closing Date;

	 	 	 
	 	(c) 	
      that between the date hereof and the Closing Date no
      force majeure, change, event, or circumstance has occurred which
      materially adversely affects the Purchased Asset or which, significantly
      reduces the value of the Purchased Asset to the Purchaser;

	 	 	 
	 	(d) 	
      that between the date hereof and the Closing Date there
      has not been any substantial loss, damage, or destruction, whether or not
      covered by insurance, to the Purchased Asset;

	 	 	 
	 	(e) 	
      no legal or regulatory action or proceeding will be
      pending or threatened by any person to enjoin, restrict or prohibit the
      purchase and sale of the Purchased Asset contemplated hereby;

	 	 	 
	 	(f) 	
      that at the Closing Date, there will have been obtained
      from all appropriate federal, state, municipal or other governmental or
      administrative bodies such licenses, permits, consents, approvals,
      certificates, registrations and authorizations as are required to be
      obtained by the Vendor to permit the change of ownership of the Purchased
      Asset contemplated hereby, and all notices, consents and approvals with
      respect to the transfer or assignment of any contracts;

	 	 	 
	 	(g) 	
      that at the Closing Date, the Vendor will have given or
      obtained the notices, consents and approvals described in Schedule 3 -
      Consents, in each case in form and substance satisfactory to the
      Purchaser, acting reasonably;

	13.2 	
      The foregoing conditions of this Clause 13.1 are for the
      exclusive benefit of the Purchaser and may be waived in whole or in part
      by the Purchaser at any time. If any of the conditions contained in this
      Clause 13.1 will not be performed or fulfilled at or prior to the Closing
      Date to the satisfaction of the Purchaser, acting reasonably, the
      Purchaser, may, by notice to the Vendor, terminate this Agreement and the
      obligations of the Vendor and the Purchaser under this agreement, provided
      that the Purchaser may also bring an action pursuant to Clause 11.2
      against the Vendor for damages suffered by the Purchaser where the
      non-performance or non-fulfillment of the relevant condition is as a
      result of a breach of covenant, representation or warranty by the
      Vendor.

	 	 
	13.3 	
      The obligation of the Vendor to consummate the
      transactions herein contemplated is subject to the fulfillment of each of
      the following conditions precedent at the times
  stipulated:

	 	(a) 	
      that the representations and warranties of the Purchaser
      contained herein are true and correct on and as of the Closing Date with
      the same force and effect as if such representations and warranties were
      made as at the Closing Date, except as may be in writing disclosed to and
      approved by the Vendor; and

	 	 	 
	 	(b) 	
      that all terms, covenants, conditions, agreements, and
      obligations hereunder on the part of the Purchaser to be performed or
      complied with at or prior to the Closing, including in particular the
      Purchaser’s obligation to deliver the documents and instruments herein
      provided for in Clause 15, have been performed and complied with as at the
      Closing.

	13.4 	
      The foregoing conditions of this Clause 13.3 are for the
      exclusive benefit of the Vendor and may be waived in whole or in part by
      the Vendor at any time. If any of the conditions contained in this Clause
      13.3 will not be performed or fulfilled at or prior to the Closing Date to
      the satisfaction of the Vendor acting reasonably, the Vendor may, by
      notice to the Purchaser, terminate this Agreement and the obligations
      of

- 11 -

		
      the Vendor and the Purchaser under this Agreement,
      provided that the Vendor may also bring an action pursuant to Clause 11.3
      against the Purchaser for damages suffered by it where the non-performance
      or non-fulfillment of the relevant condition is as a result of a breach of
      covenant, representation or a warranty by the Purchaser.

	 	 	 
	14. 	
      TRANSACTIONS OF THE VENDOR AT THE
      CLOSING

	 	 	 
	14.1 	
      At the Closing Date, the Vendor will execute and deliver
      or cause to be executed and delivered all deeds, conveyances, bills of
      sale, transfers, assignments, agreements, certificates, documents, and
      instruments as may be necessary to effectively vest good and marketable
      title to the Purchased Asset in the Purchaser free and clear of any
      Encumbrances and without limiting the foregoing, will execute and deliver
      or cause to be executed and delivered:

	 	 	 
		(a) 	
      a credit note which is the Purchased Asset

	 	 	 
		(b) 	
      all consents, approvals, releases, and discharges as may
      be required to effect the transactions contemplated hereby, including in
      particular those described in Schedule 3 - Consents;

	 	 	 
		(c) 	
      a certificate of the Vendor dated the Closing, acceptable
      in form and content to the solicitors for the Purchaser, certifying that
      the conditions set out in Clause 13.1 have been satisfied;

	 	 	 
		(d) 	
      executed releases by any third parties which have any
      Encumbrances against the Purchased Asset;

	 	 	 
		(e) 	
      a certified copy of a resolution of the Directors of the
      Vendor duly passed authorizing the execution and delivery of this
      Agreement and the completion of the transactions contemplated
    hereby;

	 	 	 
		(f) 	
      a subscription agreement for the Purchase Shares;
    and

	 	 	 
		(g) 	
      all such other documents and instruments as the
      Purchaser’s lawyers may reasonably require.

	 	 	 
	15. 	
      TRANSACTIONS OF THE PURCHASER AT THE
      CLOSING

	 	 	 
	15.1 	
      At the Closing the Purchaser will deliver or cause to be
      delivered to the Vendor:

	 	 	 
		(a) 	
      Irrevocable instructions to the transfer agent of the
      Purchaser as to the issuance of the Purchased Shares, in form and
      substance satisfactory to the Vendor;

	 	 	 
		(b) 	
      a certified copy of a resolution of the Directors of the
      Purchaser duly passed authorizing the execution and delivery of this
      Agreement and the completion of the transactions contemplated
    hereby;

	 	 	 
		(c) 	
      a certificate of an officer of the Purchaser dated as of
      the Closing Date, acceptable in form and content to the solicitors for the
      Vendor, certifying that the conditions precedent set out in Clause 13.3
      have been satisfied; and

	 	 	 
		(d) 	
      all such other documents and instruments as the Vendor or
      its solicitors may reasonably require.

	 	 	 
	16. 	
      TAXES

	 	 	 
	16.1 	
      All sales, use and other transfer taxes payable in
      respect of the transactions arising out of the purchase of the Assets as
      contemplated hereby will be paid by the Vendor, as far as these taxes are
      being levied by the country of residence of the Vendor, i.e.
  France.

- 12 -

	17. 	
      FURTHER ASSURANCES

	 	 
	17.1 	
      From time to time subsequent to the Closing Date, the
      parties covenant and agree, at the expense of the requesting party, to
      promptly execute and deliver all such further documents and instruments
      and do all such further acts and things as may be required to carry out
      the full intent and meaning of this Agreement and to effect the
      transactions contemplated hereby.

	 	 
	18. 	
      ASSIGNMENT

	 	 
	18.1 	
      This Agreement may not be assigned by any party hereto
      without the prior written consent of the other parties hereto.

	 	 
	19. 	
      SUCCESSORS AND ASSIGNS

	 	 
	19.1 	
      This Agreement will enure to the benefit of and be
      binding upon the parties hereto and their respective successors and
      permitted assigns.

	 	 
	20. 	
      COUNTERPARTS

	 	 
	20.1 	
      This Agreement may be executed in several counterparts,
      each of which will be deemed to be an original and all of which will
      together constitute one and the same instrument.

	 	 
	21. 	
      NOTICES

	 	 
	21.1 	
      Any notice required or permitted to be given under this
      Agreement will be in writing and may be given by personal service or by
      prepaid registered mail, and addressed to the proper party or transmitted
      by electronic facsimile generating proof of receipt of transmission at the
      address or facsimile number stated below:

	 	(a) 	if to the Vendor: 
	 	  	  
	 	  	 EUROSLOT SAS 
	 	  	 ZA Les Priédons Sud 
	 	  	 86140 Scorbé Clairvaux 
	 	  	 FRANCE 
	 	  	  
	 	  	 Facsimile No.: +33.5. 49.93.86.71 
	 	  	  
	 	(b) 	if to the Purchaser: 
	 	  	  
	 	  	 USR Technology, Inc. 
	 	  	 20333 State Hwy. 249, 
	 	  	 Suite 200 
	 	  	 Houston, Texas 
	 	  	  
	 	  	 Facsimile No.: + 1 (866) 857-9025 
	 	  	  
	 	  	 with a copy to: 
	 	  	  
	 	  	 Macdonald Tuskey 
	 		 Suite 1210, 777 Hornby
    Street  
	 	  	 Vancouver, British Columbia V6Z 1S4

	 	  	 Attention: William L. Macdonald 
	 	  	  
	 	  	 Facsimile No.: +1 (604) 681-4760
  

- 13 -

or to such other address or facsimile
number as any party may specify by notice. Any notice sent by registered mail as
aforesaid will be deemed conclusively to have been effectively given on the
fifth business day after posting; but if at the time of posting or between the
time of posting and the third business day thereafter there is a strike, lockout
or other labour disturbance affecting postal service, then such notice will not
be effectively given until actually received. Any notice transmitted by
electronic facsimile will be deem conclusively to have been effectively given if
evidence of receipt is obtained before 5:00 p.m. (recipient’s time) on a
Business Day, and otherwise on the Business Day next following the date evidence
of receipt of transmission is obtained by the sender.

	22. 	
      TENDER AND EXTENSIONS

	 	 
	22.1 	
      Tender may be made upon the Vendor or Purchaser or upon
      the solicitors for the Vendor or Purchaser and such solicitors are
      expressly authorized by their respective clients to confirm extensions of
      the Closing Date.

	 	 
	23. 	
      REFERENCE DATE

	 	 
	23.1 	
      This Agreement is dated for reference as of the date
      first above written, but will become binding as of the date of execution
      and delivery by all parties hereto and subject to compliance with the
      terms and conditions hereof, the transfer and possession of the Purchased
      Asset will be deemed to take effect as at the close of business on the
      Closing Date. References herein to the date of the Agreement or to the
      date hereof shall be deemed to mean the date set forth in the preamble to
      this Agreement.

	 	 
	24. 	
      REFERENCES TO AGREEMENT

	 	 
	24.1 	
      The terms “this Agreement”, “hereof’, “herein”, “hereby”,
      “hereto”, and similar terms refer to this Agreement and not to any
      particular clause, paragraph or other part of this Agreement. References
      to particular clauses are to clauses of this Agreement unless another
      document is specified.

IN WITNESS WHEREOF the parties have executed and delivered
these presents on the dates indicated below.

EUROSLOT S.A.S.

	Per: 	“signed” 	 
	  	Authorized Signatory 	 
	  	  	 
	Dated: 	September 26, 2008 	 

USR TECHNOLOGY, INC.

	Per: 	/s/ John Ogden 	 
	  	Authorized Signatory 	 
	  	  	 
	Dated: 	September 26, 2008 	 

LIST OF SCHEDULES

	Schedule 	Description 
	 	 
	1 	Description of Purchased Asset
    
	 	 
	2 	Intellectual Property: Vendor
      Patent and Trademark 
	 	 
	3 	Consents 
	 	 
	4 	License Agreement 
	 	 
	5 	Subscription Agreement
  

SCHEDULE 1

DESCRIPTION OF PURCHASED ASSET

The Purchased Asset is a Credit Note with a value of US $
1,000,000.00 for the manufacture and supply of articulated downhole screen
filters.

SCHEDULE 2

INTELLECTUAL PROPERTY: VENDOR PATENT AND TRADEMARK

Patent rights:

French patent application 06/07075
filed 02/08/2006 and published under number 2 904 653 

International application WO
2008/015540 filed 01/08/2007 under reference PCT/IB2007/002202 under priority of
the above French application for all states that could be designated at that
date according to the Patent Cooperation Treaty. 

Trademark rights: 

French trademark 07 3535275 filed
31/10/2007 for the words "Snake Screen" in classes 6, 7, and 11 of the
International Classification, 

International trademark 965 572 as
registered 30/04/2008 to cover Bahrain, Europe Union, Iran, Russia, and USA, for
the words "Snake Screen" in classes 7 and 11 of the International
Classification. 

SCHEDULE 3

CONSENTS

None.

SCHEDULE 4

LICENSE AGREEMENT

SCHEDULE 5

SUBSCRIPTION AGREEMENT

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