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  Exhibit 10.10    
    

 
 

SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT    
    

        This Second Amendment to Amended and Restated Credit Agreement (this "Second
Amendment") is entered into effective as of the 27th day of May, 2009 (the "Second Amendment Effective Date"), by and
among Ellora Energy Inc., a Delaware corporation ("Borrower"), JPMorgan Chase Bank, N.A., as Administrative Agent
("Administrative Agent"), and the financial institutions party to the Credit Agreement (defined below) as Lenders
("Lenders"). 

 
 

W I T N E S S E T H    
    

        WHEREAS, Borrower, Administrative Agent, the other Agents party thereto and Lenders are parties to that certain Amended and Restated
Credit Agreement dated as of May 1, 2008 (as amended, the "Credit Agreement") (unless otherwise defined herein, all terms used herein with their
initial letter capitalized shall have the meaning given such terms in the Credit Agreement, including after giving effect to this Second Amendment); and 

        WHEREAS,
pursuant to the Credit Agreement, Lenders have made Loans to Borrower and provided certain other credit accommodations to Borrower; and 

        WHEREAS,
the parties hereto desire to (i) amend certain terms of the Credit Agreement in certain respects as provided in this Second Amendment to be effective as of the Second
Amendment Effective Date, (ii) reaffirm the Borrowing Base in the amount of $160,000,000, and (iii) amend the Consolidated Total Debt to Consolidated EBITDAX financial covenant set forth
in section 9.01(b) of the Credit Agreement for the fiscal quarter ending June 30, 2009, all as more particularly set forth herein. 

        NOW
THEREFORE, for and in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged and confessed, Borrower, Administrative Agent and Lenders hereby agree as follows: 

         Section 1.    Amendments.    In reliance on the representations, warranties,
covenants and agreements contained
in this Second Amendment, and subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, the Credit Agreement shall
be amended effective as of the Second Amendment Effective Date in the manner provided in this Section 1. 

        1.1    Additional Definitions.    Section 1.02 of the Credit Agreement shall be amended
to add thereto in alphabetical order the following definitions which shall read in full as follows: 

        "Midstream Assets" means, at any time, the gathering, processing and pipeline systems and facilities owned by the Borrower or any
Subsidiary, including without limitation any compression or treating equipment that is a part of any such system or facility. 

        "Second Amendment" means that certain Second Amendment to Amended and Restated Credit Agreement dated as of May 27, 2009 among
Borrower, Administrative Agent and the Lenders party thereto. 

        1.2    Amendment to Definitions.    The definitions of "Alternate Base
Rate", "Applicable Margin" and "Loan Documents" contained in Section 1.02
of the Credit Agreement shall be amended and restated to read in full as follows: 

        "Alternate Base Rate" means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day,
(b) the Federal Funds Effective Rate in effect on such day plus one-half of one percent (0.5%) and (c) the Adjusted LIBO Rate with respect to an Interest Period of one month
beginning on such day (or if such day is not a Business Day, 

1

 

beginning
on the immediately preceding Business Day) plus one percent (1.00%), provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based upon the rate appearing on
Page 3750 of the Dow Jones Market Service (or on any successor or substitute page of such page) at approximately 11:00 a.m. London time on such day. Any change in the Alternate Base Rate
due to a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal
Funds Effective Rate or the Adjusted LIBO Rate, respectively. 

        "Applicable Margin" means, for any day, with respect to any ABR Loan or Eurodollar Loan, or with respect to the Commitment Fee Rate, as
the case may be, the rate per annum set forth in the Conforming Borrowing Base Utilization Grid below based upon the Conforming Borrowing Base Utilization Percentage then in effect: 

 
 

Conforming Borrowing Base Utilization Percentage    
    

														
	Conforming Borrowing Base

Utilization Percentage

	 	<50% 	 	350% <75% 	 	375% <90% 	 	390% £100% 	 
	 Eurodollar Loans
	 	 	2.000	%	 	2.250	%	 	2.500	%	 	2.750	%
	 ABR Loans
	 	 	1.250	%	 	1.500	%	 	1.750	%	 	2.000	%
	 Commitment Fee Rate
	 	 	0.500	%	 	0.500	%	 	0.500	%	 	0.500	%

        Each
change in the Applicable Margin shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the
next such change. 

        "Loan Documents" means this Agreement, the First Amendment, the Second Amendment, the Notes, the Letter of Credit Agreements, the Letters
of Credit and the Security Instruments. 

        1.3    Amendment to Properties and Titles Provision.    The first sentence in
clause (a) of Section 7.17 of the Credit Agreement is hereby amended to insert the words "and Midstream Assets" immediate after the reference to "all its personal Properties" set forth
in such sentence. 

        1.4    Amendment to Consolidated Total Debt to Consolidated EBITDAX
Provision.    Clause (b) of Section 9.01 of the Credit Agreement is hereby restated in full as follows: 

        "(b)    Consolidated Total Debt to Consolidated EBITDAX.    Commencing on the fiscal quarter ending March 31,
2008, the Borrower will not permit, as of the last day of any fiscal quarter, its ratio of Consolidated Total Debt (for the fiscal quarter ending on such date) to Annualized Consolidated EBITDAX to be
greater than the ratio set forth below opposite to the period that includes such day: 

			
	Period

 
	 	Ratio 
	 March 31, 2008 through March 31, 2009
	 	3.5 to 1.0
	 June 30, 2009
	 	4.5 to 1.0
	 September 30, 2009 and thereafter
	 	3.5 to 1.0

        1.5    Amendment to Restricted Payment Provision.    Section 9.04 of the Credit
Agreement is hereby restated in full as follows: 

        Section 9.04    Restricted Payments.    The Borrower will not, and will not permit any Subsidiary to, declare
or make, or agree to pay or make, directly or indirectly, any Restricted Payment, return any capital to its stockholders or make any distribution, including, without 

2

 

limitation,
any payments of cash dividends with respect to the Permitted Convertible Preferred Stock, of its Property to its Equity Interest holders, provided that (a) the Borrower may declare
and make dividends in the form of additional shares of Borrower's Permitted Convertible Preferred Stock issued with respect to Borrower's previously issued Permitted Convertible Preferred Stock and
(b) whenever no Default or Event of Default exists and total Credit Exposures do not exceed the Borrowing Base on the date any such distribution is declared or paid (both before and after such
purchase or payment), (i) Subsidiaries may declare and pay dividends ratably with respect to their Equity Interests and (ii) the Borrower may purchase Equity Interests in the Borrower
from employees, directors, or members of management of the Borrower upon their death, termination of their employment or retirement, so long as such purchases or payments after the Effective Date do
not exceed $3,000,000 in the aggregate. 

        1.6    Amendment to Sale of Properties Provision.    Section 9.12 of the Credit
Agreement is hereby restated in full as follows: 

        Section 9.12    Sale of Properties.    The Borrower will not, and will not permit any Subsidiary to, sell,
assign, farm-out, convey, dispose of or otherwise transfer to any Person other than a Subsidiary or the Borrower (collectively in this section,
"transfer") any Oil and Gas Property containing proved reserves constituting a portion of the Borrowing Base, any Midstream Asset, or Swap Agreement now
existing or hereafter arising which has been incorporated into the most recent determination of the Borrowing Base (as determined by the Administrative Agent), or any Subsidiary owning any such Oil
and Gas Property, Midstream Asset or Swap Agreement (any such Oil and Gas Property, Midstream Asset, or Swap Agreement being in this section called a "Borrowing Base Asset"), unless (a) no
Event of Default will exist after the consummation of such transfer and the application of the proceeds thereof; (b) the total Credit Exposure does not exceed the Conforming Borrowing Base at
the time of such transfer or, if there is such an excess, it is not increased after giving effect to such transfer and the application of the proceeds thereof; (c) the aggregate value (which,
for purposes hereof, shall mean (x) in the case of any such Oil and Gas Property, the value the Administrative Agent attributed to such Oil and Gas Property for purposes of the most recent
redetermination of the Borrowing Base and/or Conforming Borrowing Base, (y) in the case of any such Midstream Assets, the aggregate net cash proceeds received (inclusive of all holdbacks,
estimated earn-outs and other deferred compensation, in each case calculated as if earned in full in cash on the initial date of transfer, and measured at the time of such sale or other
disposition), and (z) in the case of any such Swap Agreement, the aggregate net cash proceeds received (measured at the time of such sale, termination, unwind or other disposition)) of all
Borrowing Base Assets transferred pursuant to this Section 9.12 (either directly or by means of the transfer of Equity Interests in a Subsidiary)
in any period between Scheduled Redeterminations shall not exceed five percent (5%) of the Conforming Borrowing Base then in effect, and (d) the proceeds of such transfer shall be applied as
required under the following sentence. Upon any such transfer, the Borrowing Base and the Conforming Borrowing Base shall each be reduced by an amount equal to the aggregate value of such transferred
Oil and Gas Properties and, in the Administrative Agent's discretion, an amount not to exceed the aggregate value the Administrative Agent attributed to such other transferred Borrowing Base Assets
for purposes of the most recent redetermination of the Borrowing Base and/or Conforming Borrowing Base, and the Borrower shall apply the net proceeds of such transfer (after costs of transfer), up to
the amount of such aggregate value, to reduce the total Credit Exposures. Notwithstanding the foregoing, this Section 9.12 shall not prohibit,
and "transfer" shall not include: (i) the transfer of Hydrocarbons in the ordinary course of business, (ii) farmouts, sales or other dispositions of undeveloped acreage and assignments
in connection with such transactions, (iii) the transfer of equipment in the 

3

 

ordinary
course of business or that is no longer necessary for the business of the Borrower or such Subsidiary or is replaced by equipment of at least comparable value and use, or (iv) the
transfer of Subsidiaries that own no Borrowing Base Assets. 

        1.7    Amendment to Take-or-Pay or Other Prepayments
Provision.    Section 9.18 of the Credit Agreement is hereby restated in full as follows: 

        Section 9.18    Take-or-Pay or Other Prepayments.    The Borrower will not receive, or
allow any Subsidiary to receive, any take-or-pay or other prepayments with respect to the Oil and Gas Properties or Midstream Assets of the Borrower or any Subsidiary unless,
in the case of such Midstream Assets only, the Borrower gives notice thereof to the Administrative Agent in sufficient time to allow such payments to be taken account of in the next
determination of the Borrowing Base; provided, that, if Borrower delivers any such notice, the Administrative Agent shall have the right by written notice to the Borrower to elect to cause an
additional Interim Redetermination (in addition to those expressly permitted under Section 2.07(b)(ii)) in accordance with Section 2.07. 

        1.8    Amendment to Swap Agreements Provision.    Section 9.19 of the Credit Agreement
is hereby amended by inserting the following sentence after the last sentence thereof: 

        Except
as expressly permitted under Section 9.12, the Borrower will not, and will not permit any Subsidiary to sell, assign, terminate, unwind, dispose of or otherwise transfer
any Swap Agreement, in any case now existing or hereafter arising, which has been or will be incorporated into the determination of the Borrowing Base (as determined by the Administrative Agent) and,
as applicable, the Conforming Borrowing Base, without the prior written consent of the Required Lenders. 

        Section 2.    Borrowing Base Reaffirmation.    The Borrowing
Base and the Conforming Borrowing Base shall each, pursuant to Section 2.07 of the Credit Agreement, be reaffirmed at $160,000,000, and continuing until the next Scheduled Redetermination,
Interim Redetermination or other redetermination of the Borrowing Base and the Conforming Borrowing Base thereafter. The parties agree that the reaffirmation of Borrowing Base and the Conforming
Borrowing Base provided herein shall not constitute an Interim Redetermination but instead constitutes the May 1, 2009 Scheduled Redetermination. 

        Section 3.    Conditions Precedent.    The amendments contained
in Section 1 hereof, the reaffirmation of the Borrowing Base set forth in Section 2 hereof
and the limited waiver set forth in Section 3 hereof are subject to the satisfaction of each of the following conditions precedent: 

        3.1    Counterparts.    The Administrative Agent shall have received counterparts hereof duly
executed by the Borrower and Required Lenders. 

        3.2    Fees.    Borrower shall have paid to Administrative Agent any and all reasonable fees
payable to Administrative Agent or Lenders pursuant to or in connection with this Second Amendment in consideration for the agreements set forth herein. 

        3.3    No Material Adverse Effect.    There shall not have occurred since December 31,
2008, any events that, individually or in the aggregate, have had a Material Adverse Effect. 

        3.4    No Default.    No Default or Event of Default shall have occurred which is continuing. 

        3.5    Other Documentation.    The Administrative Agent shall have received such other
documents, instruments and agreements as it may reasonably request, all in form and substance reasonably satisfactory to the Administrative Agent. 

4

 

        Section 4.    Representations and Warranties.    To induce
Lenders and Administrative Agent to enter into this Second Amendment, Borrower hereby represents and warrants to Lenders and Administrative Agent as follows: 

        4.1    Reaffirm Existing Representations and Warranties.    Each representation and warranty
of Borrower contained in the Credit Agreement and the other Loan Documents is true and correct in all material respects on the date hereof and will be true and correct in all material respects after
giving effect to the amendments set forth in Section 1 hereof. 

        4.2    Due Authorization; No Conflict.    The execution, delivery and performance by Borrower
of this Second Amendment are within Borrower's corporate powers, have been duly authorized by all necessary action, require no action by or in respect of, or filing with, any governmental body, agency
or official and do not violate or constitute a default under any provision of applicable law or any material agreement binding upon Borrower or its Subsidiaries or result in the creation or imposition
of any Lien upon any of the assets of Borrower or its Subsidiaries other than Excepted Liens. 

        4.3    Validity and Enforceability.    This Second Amendment constitutes the valid and binding
obligation of Borrower enforceable in accordance with its terms, except as (i) the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditor's rights
generally, and (ii) the availability of equitable remedies may be limited by equitable principles of general application. 

        Section 5.    Miscellaneous.    

        5.1    Reaffirmation of Loan Documents.    Any and all of the terms and provisions of the
Credit Agreement and the Loan Documents shall, except as amended and modified hereby, remain in full force and effect. The amendments contemplated hereby shall not limit or impair any Liens securing
the Indebtedness, each of which are hereby ratified, affirmed and extended to secure the Indebtedness as they may be increased pursuant hereto. 

        5.2    Parties in Interest.    All of the terms and provisions of this Second Amendment shall
bind and inure to the benefit of the parties hereto and their respective successors and assigns. 

        5.3    Legal Expenses.    Borrower hereby agrees to pay on demand all reasonable fees and
expenses of counsel to Administrative Agent incurred by Administrative Agent in connection with the preparation, negotiation and execution of this Second Amendment and all related documents. 

        5.4    Counterparts.    This Second Amendment may be executed in counterparts, and all parties
need not execute the same counterpart; however, no party shall be bound by this Second Amendment until Borrower and Required Lenders have executed a counterpart. Facsimiles shall be effective as
originals. 

        5.5    Complete Agreement.    THIS SECOND AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN
DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS
BETWEEN OR AMONG THE PARTIES. 

        5.6    Headings.    The headings, captions and arrangements used in this Second Amendment are,
unless specified otherwise, for convenience only and shall not be deemed to limit, amplify or modify the terms of this Second Amendment, nor affect the meaning thereof. 

        5.7    Governing Law.    THIS SECOND AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY
AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS. 

5

 

        IN
WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be duly executed by their respective authorized officers on the date and year first above written. 

        
[Signature Pages to Follow] 

6

 

					
	 	 	 ELLORA ENERGY INC.,

a Delaware corporation
	

 	
 	
By:	
 	
/s/ Steven R. Enger

  Steven R. Enger,

Chief Financial Officer

					
	 	 	ADMINISTRATIVE AGENT/LENDER:
	

 	
 	
 JPMORGAN CHASE BANK, N.A.,

as Administrative Agent and a Lender
	

 	
 	
By:	
 	
/s/ Ryan A. Fuessel

  Ryan A. Fuessel,

Senior Vice President

					
	 	 	LENDER:
	

 	
 	
 KEYBANK, N.A., as a Lender
	

 	
 	
By:	
 	
/s/ Angela McCracken

 
	 	 	Name:	 	Angela McCracken

 
	 	 	Title:	 	Senior Vice President

 

					
	 	 	LENDER:
	

 	
 	
 GUARANTY BANK, FSB, as a Lender
	

 	
 	
By:	
 	
/s/ James A. Morgan

 
	 	 	Name: Title:	 	James A. Morgan

 Assistant Vice President

 

					
	 	 	LENDER:
	

 	
 	
 FORTIS CAPITAL CORP., as a Lender
	

 	
 	
By:	
 	
/s/ David Montgomery

 
	 	 	Name:	 	David Montgomery
	 	 	Title:	 	Director
	

 	
 	
By:	
 	
/s/ Darrell Holley

 
	 	 	Name:	 	Darrell Holley
	 	 	Title:	 	Managing Director

					
	 	 	LENDER:
	

 	
 	
 COMPASS BANK, as a Lender
	

 	
 	
By:	
 	
/s/ Murray E. Brasseux

 
	 	 	Name:	 	Murray E. Brasseux

 
	 	 	Title:	 	Executive Vice President

 

					
	 	 	LENDER:
	

 	
 	
 BANK OF SCOTLAND plc, as a Lender
	

 	
 	
By:	
 	
/s/ Karen Weich

 
	 	 	Name:	 	Karen Weich

 
	 	 	Title:	 	Vice President

 

					
	 	 	LENDER:
	

 	
 	
 UNION BANK, N.A., formerly known as

Union Bank of California, N.A., as a Lender
	

 	
 	
By:	
 	
  

 
	 	 	Name:	 	  

 
	 	 	Title:	 	 

 

					
	 	 	LENDER:
	

 	
 	
 WELLS FARGO BANK, N.A., as a Lender
	

 	
 	
By:	
 	
/s/ William Champion

 
	 	 	Name:	 	William Champion

 
	 	 	Title:	 	Assistant Vice President

 

					
	 	 	LENDER:
	

 	
 	
 U.S. BANK NATIONAL ASSOCIATION, as a

Lender
	

 	
 	
By:	
 	
/s/ Bruce E. Hernandez

 
	 	 	Name:	 	Bruce E. Hernandez

 
	 	 	Title:	 	Vice President

 

					
	 	 	LENDER:
	

 	
 	
 ALLIED IRISH BANKS, p.l.c., as a Lender
	

 	
 	
By:	
 	
 

 
	 	 	Name:	 	  

 
	 	 	Title:	 	 

 
	

 	
 	
By:	
 	
  

 
	 	 	Name:	 	 

 
	 	 	Title:	 	  

 

					
	 	 	LENDER:
	

 	
 	
 NATIXIS, as a Lender
	

 	
 	
By:	
 	
/s/ Liana Tchernysheva

 
	 	 	Name:	 	Liana Tchernysheva

 
	 	 	Title:	 	Director

 
	

 	
 	
By:	
 	
/s/ Donovan C. Broussard

 
	 	 	Name:	 	Donovan C. Broussard

 
	 	 	Title:	 	Managing Director

 

					
	 	 	LENDER:
	

 	
 	
 THE BANK OF NOVA SCOTIA, as a Lender
	

 	
 	
By:	
 	
/s/ James Forward

 
	 	 	Name:	 	James Forward

 
	 	 	Title:	 	Managing Director

 

					
	 	 	LENDER:
	

 	
 	
 GUARANTY BANK AND TRUST COMPANY,

as a Lender
	

 	
 	
By:	
 	
/s/ Gail J. Nofsinger

 
	 	 	Name:	 	Gail J. Nofsinger,
	 	 	Title:	 	Senior Vice President

        Each
of the undersigned (i) consent and agree to this Second Amendment, and (ii) agree that the Loan Documents to which it is a party shall remain in full force and effect
and shall continue to be the legal, valid and binding obligation of such Person, enforceable against it in accordance with its terms. 

							
	 	 	 ELLORA ENERGY GP, LLC,

a Delaware limited liability company
	

 	
 	
By:	
 	
/s/ Steven R. Enger

  Steven R. Enger, Chief Financial Officer
	

 	
 	
 ELLORA LAND HOLDINGS, L.P.,

a Texas limited partnership
	

 	
 	
By:	
 	
Ellora Energy GP, LLC, a Delaware

limited liability company, its general partner
	

 	
 	

 	
 	
By:	
 	
/s/ Steven R. Enger

  Steven R. Enger,

Chief Financial Officer
	

 	
 	
 ELLORA ROYALTIES, LP,

a Colorado limited partnership
	

 	
 	
By:	
 	
Ellora Energy GP, Inc., a Colorado

corporation, its general partner
	

 	
 	

 	
 	
By:	
 	
/s/ Steven R. Enger

  Steven R. Enger,

Executive Vice President of Finance

							
	 	 	 ELLORA OPERATING GP, LLC,

a Delaware limited liability company
	

 	
 	
By:	
 	
/s/ Steven R. Enger

  Steven R. Enger,

Chief Financial Officer
	

 	
 	
 ELLORA OPERATING L.P.,

a Texas limited partnership
	

 	
 	
By:	
 	
Ellora Operating GP, LLC, a Delaware

limited liability company, its general partner
	

 	
 	

 	
 	
By:	
 	
/s/ Steven R. Enger

  Steven R. Enger,

Chief Financial Officer
	

 	
 	
 PRESCO WESTERN, LLC,

a Colorado limited liability company
	

 	
 	
By:	
 	
Ellora Energy Inc., a Delaware corporation,

its sole member
	

 	
 	

 	
 	
By:	
 	
/s/ Steven R. Enger

  Steven R. Enger,

Chief Financial Officer

							
	 	 	 ENGLISH BAY PIPELINE, L.P.,

a Texas limited partnership
	

 	
 	
By:	
 	
Ellora Energy GP, LLC, a Delaware

limited liability company,

its general partner
	

 	
 	

 	
 	
By:	
 	
/s/ Steven R. Enger

  Steven R. Enger,

Chief Financial Officer
	

 	
 	
 ELLORA ROYALTIES, LLC,

a Colorado limited liability company
	

 	
 	
By:	
 	
/s/ Steven R. Enger

  Steven R. Enger,

Executive Vice President of Finance
	

 	
 	
 ELLORA ROYALTIES GP, INC.,

a Colorado corporation
	

 	
 	
By:	
 	
/s/ Steven R. Enger

  Steven R. Enger,

Executive Vice President of Finance
	

 	
 	
 ELLORA CO, LLC,

a Colorado limited liability corporation
	

 	
 	
By:	
 	
/s/ Steven R. Enger

  Steven R. Enger,

Executive Vice President of Finance

QuickLinks

Exhibit 10.10

SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

W I T N E S S E T H

Conforming Borrowing Base Utilization PercentageExhibit 4.11

 

TENNESSEE COMMERCE BANCORP, INC.

 

SENIOR DEBT SECURITIES

 

INDENTURE

 

Dated as of
[                      ]

 

[                              ]

 

as Trustee

 

 

CROSS-REFERENCE TABLE*

 

	
  Trust Indenture Act Section

  	
   

  	
  Indenture
  Section

  
	
  310 (a)(1)

  	
   

  	
  7.1, 7.10

  
	
  (a)(2)

  	
   

  	
  7.1

  
	
  (a)(3)

  	
   

  	
  N.A.

  
	
  (a)(4)

  	
   

  	
  N.A.

  
	
  (a)(5)

  	
   

  	
  7.1, 7.10

  
	
  (b)

  	
   

  	
  7.1, 7.10

  
	
  (b)(1)(9)

  	
   

  	
  7.1, 7.10

  
	
  (c)

  	
   

  	
  N.A.

  
	
  311 (a)

  	
   

  	
  7.11

  
	
  (b)

  	
   

  	
  7.11

  
	
  (c)

  	
   

  	
  N.A.

  
	
  312 (a)

  	
   

  	
  2.7

  
	
  (b)

  	
   

  	
  12.3

  
	
  (c)

  	
   

  	
  7.6, 12.3

  
	
  313 (a)

  	
   

  	
  7.6

  
	
  (b)(2)

  	
   

  	
  7.6. 7.7

  
	
  (c)

  	
   

  	
  7.6; 12.2

  
	
  (d)

  	
   

  	
  7.6

  
	
  314 (a)

  	
   

  	
  4.3, 12.2

  
	
  (a)(4)

  	
   

  	
  12.5

  
	
  (b)

  	
   

  	
  N.A.

  
	
  (c)(1)

  	
   

  	
  12.4

  
	
  (c)(2)

  	
   

  	
  12.4

  
	
  (c)(3)

  	
   

  	
  N.A.

  
	
  (d)

  	
   

  	
  N.A.

  
	
  (e)

  	
   

  	
  12.5

  
	
  (f)

  	
   

  	
  N.A.

  
	
  315 (a)

  	
   

  	
  7.1

  
	
  (b)

  	
   

  	
  7.5, 12.2

  
	
  (c)

  	
   

  	
  7.1

  
	
  (d)

  	
   

  	
  7.1

  
	
  (e)

  	
   

  	
  6.11

  
	
  316 (a)(last sentence)

  	
   

  	
  2.9

  
	
  (a)(1)(A)

  	
   

  	
  6.5

  
	
  (a)(1)(B)

  	
   

  	
  6.4

  
	
  (a)(2)

  	
   

  	
  N.A.

  
	
  (b)

  	
   

  	
  6.7

  
	
  (c)

  	
   

  	
  2.13

  
	
  317 (a)(1)

  	
   

  	
  6.8

  
	
  (a)(2)

  	
   

  	
  6.9

  
	
  (b)

  	
   

  	
  2.5

  
	
  318 (a)

  	
   

  	
  12.1

  
	
  (b)

  	
   

  	
  N.A.

  
	
  (c)

  	
   

  	
  12.1

  

 

N.A. means not applicable.

 

* This Cross-Reference Table is not part of this Indenture.

 

 

TABLE OF CONTENTS

 

	
  ARTICLE
  I DEFINITIONS AND INCORPORATION BY REFERENCE

  	
  1

  
	
  Section 1.1

  	
  Definitions

  	
  1

  
	
  Section 1.2

  	
  Other Definitions

  	
  7

  
	
  Section 1.3

  	
  Terms of TIA

  	
  7

  
	
  Section 1.4

  	
  Rules of
  Construction

  	
  7

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  II THE NOTES

  	
  7

  
	
  Section 2.1

  	
  Form Generally

  	
  7

  
	
  Section 2.2

  	
  Securities in Global
  Form

  	
  8

  
	
  Section 2.3

  	
  Title and Terms

  	
  8

  
	
  Section 2.4

  	
  Execution,
  Authentication, Delivery and Dating

  	
  10

  
	
  Section 2.5

  	
  Registrar and Paying
  Agent

  	
  11

  
	
  Section 2.6

  	
  Paying Agent to Hold
  Money in Trust

  	
  12

  
	
  Section 2.7

  	
  Holder Lists

  	
  12

  
	
  Section 2.8

  	
  Registration,
  Registration of Transfer and Exchange

  	
  12

  
	
  Section 2.9

  	
  Replacement Securities

  	
  14

  
	
  Section 2.10

  	
  Outstanding Securities

  	
  14

  
	
  Section 2.11

  	
  Temporary Securities

  	
  15

  
	
  Section 2.12

  	
  Cancellation

  	
  15

  
	
  Section 2.13

  	
  Payment of Interest;
  Interest Rights Preserved

  	
  15

  
	
  Section 2.14

  	
  Persons Deemed Owners

  	
  15

  
	
  Section 2.15

  	
  Computation of Interest

  	
  16

  
	
  Section 2.16

  	
  CUSIP Numbers

  	
  16

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  III REDEMPTION

  	
  16

  
	
  Section 3.1

  	
  Right to Redeem; Notice
  of Redemption to Trustee

  	
  16

  
	
  Section 3.2

  	
  Selection of Securities
  to Be Redeemed

  	
  16

  
	
  Section 3.3

  	
  Notice of Redemption to
  Holders

  	
  16

  
	
  Section 3.4

  	
  Effect of Notice of
  Redemption

  	
  17

  
	
  Section 3.5

  	
  Deposit of Redemption
  Price

  	
  17

  
	
  Section 3.6

  	
  Securities Redeemed in
  Part

  	
  17

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  IV COVENANTS

  	
  17

  
	
  Section 4.1

  	
  Payment of Securities

  	
  17

  
	
  Section 4.2

  	
  Maintenance of Office
  or Agency

  	
  18

  
	
  Section 4.3

  	
  Reports

  	
  18

  
	
  Section 4.4

  	
  Compliance Certificate

  	
  18

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  V SUCCESSORS

  	
  19

  
	
  Section 5.1

  	
  Consolidation, Merger
  and Sale of Assets

  	
  19

  
	
  Section 5.2

  	
  Successor Person
  Substituted

  	
  19

  

 

i

 

	
  ARTICLE
  VI DEFAULTS AND REMEDIES

  	
  19

  
	
  Section 6.1

  	
  Events of Default

  	
  19

  
	
  Section 6.2

  	
  Acceleration

  	
  20

  
	
  Section 6.3

  	
  Other Remedies

  	
  21

  
	
  Section 6.4

  	
  Waiver of Past Defaults

  	
  21

  
	
  Section 6.5

  	
  Control by Majority

  	
  21

  
	
  Section 6.6

  	
  Limitation on Suits

  	
  21

  
	
  Section 6.7

  	
  Rights of Holders of
  Securities to Receive Payment

  	
  22

  
	
  Section 6.8

  	
  Collection Suit by
  Trustee

  	
  22

  
	
  Section 6.9

  	
  Trustee May File
  Proofs of Claim

  	
  22

  
	
  Section 6.10

  	
  Priorities

  	
  22

  
	
  Section 6.11

  	
  Undertaking for Costs

  	
  23

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  VII TRUSTEE

  	
  23

  
	
  Section 7.1

  	
  Duties of Trustee

  	
  23

  
	
  Section 7.2

  	
  Rights of Trustee

  	
  24

  
	
  Section 7.3

  	
  Individual Rights of
  Trustee

  	
  24

  
	
  Section 7.4

  	
  Trustee’s Disclaimer

  	
  25

  
	
  Section 7.5

  	
  Notice of Defaults

  	
  25

  
	
  Section 7.6

  	
  Reports by Trustee to
  Holders of the Securities

  	
  25

  
	
  Section 7.7

  	
  Compensation and
  Indemnity

  	
  25

  
	
  Section 7.8

  	
  Replacement of Trustee

  	
  26

  
	
  Section 7.9

  	
  Successor Trustee by
  Merger, etc

  	
  26

  
	
  Section 7.10

  	
  Eligibility;
  Disqualification

  	
  27

  
	
  Section 7.11

  	
  Preferential Collection
  of Claims Against the Company

  	
  27

  
	
  Section 7.12

  	
  Trustee’s Application
  for Instructions from the Company

  	
  27

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  VIII SATISFACTION AND DISCHARGE

  	
  27

  
	
  Section 8.1

  	
  Discharge of Liability
  on Securities

  	
  27

  
	
  Section 8.2

  	
  Repayment to the
  Company

  	
  28

  
	
  Section 8.3

  	
  Option to Effect
  Defeasance or Covenant Defeasance

  	
  28

  
	
  Section 8.4

  	
  Defeasance and
  Discharge

  	
  28

  
	
  Section 8.5

  	
  Covenant Defeasance

  	
  28

  
	
  Section 8.6

  	
  Conditions to
  Defeasance or Covenant Defeasance

  	
  29

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  IX SUPPLEMENTAL INDENTURES

  	
  29

  
	
  Section 9.1

  	
  Supplemental Indentures
  without Consent of Holders

  	
  29

  
	
  Section 9.2

  	
  Supplemental Indentures
  with Consent of Holders

  	
  30

  
	
  Section 9.3

  	
  Compliance with Trust
  Indenture Act

  	
  31

  
	
  Section 9.4

  	
  Revocation and Effect
  of Consents, Waivers and Actions

  	
  31

  
	
  Section 9.5

  	
  Notation On or Exchange
  of Securities

  	
  31

  
	
  Section 9.6

  	
  Trustee to Sign
  Supplemental Indentures

  	
  31

  
	
  Section 9.7

  	
  Effect of Supplemental
  Indentures

  	
  32

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  X SINKING FUNDS

  	
  32

  

 

ii

 

	
  Section 10.1

  	
  Applicability of
  Article

  	
  32

  
	
  Section 10.2

  	
  Satisfaction of Sinking
  Fund Payments with Securities

  	
  32

  
	
  Section 10.3

  	
  Redemption of
  Securities for Sinking Fund

  	
  32

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  XI GUARANTEES

  	
  33

  
	
  Section 11.1

  	
  Applicability of
  Article

  	
  33

  
	
  Section 11.2

  	
  Guarantee

  	
  33

  
	
  Section 11.3

  	
  Limitation on Guarantor
  Liability

  	
  34

  
	
  Section 11.4

  	
  Release of Guarantors

  	
  34

  
	
   

  	
   

  	
   

  
	
  ARTICLE
  XII MISCELLANEOUS

  	
  34

  
	
  Section 12.1

  	
  Trust Indenture Act
  Controls

  	
  34

  
	
  Section 12.2

  	
  Notices

  	
  34

  
	
  Section 12.3

  	
  Communication by
  Holders of Securities with Other Holders of Securities

  	
  35

  
	
  Section 12.4

  	
  Certificate and Opinion
  as to Conditions Precedent

  	
  35

  
	
  Section 12.5

  	
  Statements Required in
  Certificate or Opinion

  	
  35

  
	
  Section 12.6

  	
  Rules by Trustee
  and Agents

  	
  36

  
	
  Section 12.7

  	
  No Personal Liability
  of Directors, Officers, Employees and Stockholders

  	
  36

  
	
  Section 12.8

  	
  Governing Law

  	
  36

  
	
  Section 12.9

  	
  No Adverse
  Interpretation of Other Agreements

  	
  36

  
	
  Section 12.10

  	
  Successors

  	
  36

  
	
  Section 12.11

  	
  Severability

  	
  36

  
	
  Section 12.12

  	
  Counterpart Originals;
  Acceptance by Trustee

  	
  36

  
	
  Section 12.13

  	
  Table of Contents,
  Headings, etc

  	
  36

  
	
  Section 12.14

  	
  Legal Holidays

  	
  36

  

 

iii

 

INDENTURE dated as
of
[                      ]
by and between Tennessee Commerce Bancorp, Inc., a Tennessee corporation
(the “Company”), and
[                      ],
a national banking association, duly organized and validly existing under the
laws of the United States of America, as trustee (the “Trustee”).

 

RECITALS OF THE COMPANY

 

The Company has
duly authorized the execution and delivery of this Indenture to provide for the
issuance from time to time of its debentures, notes or other evidences of
indebtedness (herein called the “Securities”) to be issued in one or more
series as provided in this Indenture.

 

For and in
consideration of the premises and purchase of the Securities by the Holders
thereof, it is mutually covenanted and agreed, for the equal and ratable
benefit of the Holders of the Securities of each series thereof as follows:

 

ARTICLE I

DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.1                                                                                   Definitions.

 

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

 

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

 

“Bankruptcy Law”
means Title 11, United States Bankruptcy Code of 1978, as amended, or any
similar United States Federal or state law relating to the bankruptcy,
insolvency, receivership, winding-up, liquidation, reorganization or relief of
debtors or any amendment to, succession to or change in any such law.

 

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

 

“Board of
Directors” means the board of directors of the Company or any committee of such
board authorized with respect to any matter to exercise the powers of the Board
of Directors of the Company.

 

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

 

“Business Day”
means, except as otherwise specified as contemplated by Section 2.3(a),
with respect to any Place of Payment or any other particular location referred
to in this Indenture or in the Securities, each Monday, Tuesday, Wednesday,
Thursday and Friday which is not a day on which banking institutions in that
Place of Payment or other location are authorized or obligated by law or
executive order to close.

 

“Capital Stock”
means, with respect to any Person, any and all shares, interests, partnership
interests, participation, rights in or other equivalents (however designated)
of such Person’s capital stock, and any rights (other than debt securities
convertible into capital stock), warrants or options exchangeable for or
convertible into such capital stock, whether now outstanding or issued after
the date hereof.

 

“Capitalized Lease
Obligation” means, with respect to any Person, any obligation of such Person
under a lease of (or other agreement conveying the right to use) any property
(whether real, personal or mixed) that is 

 

1

 

required
to be classified and accounted for as a capital lease obligation under GAAP,
and, for the purpose hereof, the amount of such obligation at any date shall be
the capitalized amount thereof at such date, determined in accordance with
GAAP.

 

“Company” shall
have the meaning assigned to such term in the preamble.

 

“Company Order”
means a written order signed in the name of the Company by an Officer and
delivered to the Trustee or, with respect to Sections 2.4, 2.8, 2.11 and
7.2, any other employee of the Company named in an Officers’ Certificate
delivered to the Trustee.

 

“Commission” means
the Securities and Exchange Commission.

 

“Corporate Trust
Office” of the Trustee shall be at the address of the Trustee specified in Section 12.2
or such other address as to which the Trustee may give notice to the Company.

 

“Currency
Agreement” means, with respect to any Person, any foreign currency protection
agreement, any foreign exchange contract, forward contract, currency swap
agreement, currency option agreement or other similar agreement or arrangement
to which such Person is a party or by which such Person is a party or by which
it is bound.

 

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

 

“Depositary”
means, with respect to the Securities issuable or issued in whole or in part in
global form, the Person specified in Section 2.3(a) as the Depositary
with respect to the Securities, and any and all successors thereto appointed as
depositary hereunder and having become such pursuant to the applicable
provision of this Indenture.

 

“Discount Security”
means any Security 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 6.2.

 

“Disqualified
Stock” means, with respect to any Person and the Securities of any series and
the Guarantees thereof, if any, any Capital Stock of such Person which, by its
terms (or by the terms of any security into which it is convertible or for
which it is exercisable or exchangeable), or upon the happening of any event,
matures or is mandatorily redeemable, pursuant to a sinking fund obligation or
otherwise, or is redeemable at the option of the holder thereof, in whole or in
part, on or prior to the final Stated Maturity of the Securities of such
series; provided that any Capital Stock that would not constitute Disqualified
Stock but for provisions thereof giving holders thereof the right to require
such Person to repurchase or redeem such Capital Stock upon the occurrence of
an “asset sale” or “change in control” occurring prior to the final Stated
Maturity of the Securities of such series shall not constitute Disqualified
Stock if the “asset sale” or “change in control” provisions applicable to such
Capital Stock are no more favorable to the holders of such Capital Stock than
the analogous provisions, if any, which apply to the Securities of such series
and such Capital Stock provides that such Person will not repurchase or redeem
any such Capital Stock pursuant to such provisions prior to the Company’s
repurchase of the Securities of such series as are required to be repurchased
pursuant to the analogous provisions which apply to the Securities of such
series.

 

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

 

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

 

“Generally
Accepted Accounting Principles” or “GAAP” means generally accepted accounting
principles in the United States, consistently applied, that are in effect on
the date of determination.

 

“Global Security”
or “Global Securities” means any Security or Securities, as the case may be, in
the form established pursuant to Section 2.2 evidencing all or a part of a
series of Securities issued to the Depositary of such series or its nominee and
registered in the name of such Depositary or nominee.

 

2

 

“Guarantee” means,
as applied to any obligation, (a) a guarantee (other than by endorsement
of negotiable instruments for collection in the ordinary course of business),
direct or indirect, in any manner, of any part or all of such obligation and (b) an
agreement, direct or indirect, contingent or otherwise, the practical effect of
which is to assure in any way the payment or performance (or payment of damages
in the event of non-performance) of all or any part of such obligation,
including, without limiting the foregoing, the payment of amounts drawn by
letters of credit.

 

“Guarantor” means
with respect to Securities of any series, any Restricted Subsidiary who has
guaranteed the obligations of the Company under this Indenture and with respect
to such series of Securities pursuant to Article XI; provided that upon
the release and discharge of any Person from its Security Guarantee in
accordance with this Indenture, such Person shall cease to be a Guarantor.

 

“Holder” or “Securityholder,”
when used with respect to any Security, means, in the case of a Registered
Security, a person in whose name a Security is registered on the Registrar’s
books and, in the case of a Bearer Security, the bearer thereof and, when used
with respect to any coupon, means the bearer thereof.

 

“Indebtedness”
means, except as otherwise specified as contemplated by Section 2.3(a),
with respect to any Person (without duplication):

 

(i)            all Indebtedness of such Person for
borrowed money;

 

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

 

(iii)          all obligations of such Person in
respect of letters of credit or other similar instruments (including
reimbursement obligations with respect thereto, but excluding obligations with
respect to letters of credit (including trade letters of credit) securing
obligations (other than obligations described in (i) or (ii) above or
(v), (vi) or (ix) below) entered into in the ordinary course of
business of such Person to the extent such letters of credit are not drawn upon
or, if drawn upon, to the extent such drawing is reimbursed no later than the
third Business Day following receipt by such Person of a demand for
reimbursement);

 

(iv)          all obligations of such Person to pay
the deferred and unpaid purchase price of property, which purchase price is due
more than six months after the date of placing such property in service or
taking delivery and title thereto;

 

(v)           all Capitalized Lease Obligations;

 

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

 

(vii)         the Disqualified Stock of such Person;

 

(viii)        all Indebtedness of other persons
guaranteed by such Person to the extent of such Guarantee; and

 

(ix)           to the extent not otherwise included
in this definition, obligations under Currency Agreements and Interest Rate
Agreements (other than Currency Agreements and Interest Rate Agreements
designed solely to protect the Company or its Restricted Subsidiaries against
fluctuations in foreign currency exchange rates or interest rates and that do
not increase the Indebtedness of the obligor outstanding at any time other than
as a result of fluctuations in foreign currency exchange rates or interest
rates or by reason of fees, indemnities and compensation payable thereunder).

 

The amount of
Indebtedness of any Person as of any determination date shall be the
outstanding balance on such date in the case of unconditional obligations and,
with respect to contingent obligations, the maximum liability upon the
occurrence of the contingency giving rise to the obligations, provided that

 

3

 

(A)          the amount outstanding at any time of
any Indebtedness issued at a price less than its principal or face amount at
maturity shall be the amount of the liability in respect thereof determined in
accordance with GAAP;

 

(B)           the amount of Indebtedness represented
by Disqualified Stock of any Person shall be the maximum amount that such
Person can be required to pay to redeem, repay or repurchase such Disqualified
Stock (excluding any accrued dividends) as of the determination date, and if
such price is based upon, or measured by, the fair market value of such
Disqualified Stock, such fair market value will be determined in good faith by
the Board of Directors of the issuer of such Disqualified Stock;

 

(C)           the amount of Indebtedness secured by
a Lien on any asset of a Person shall be the lesser of (x) the fair market
value of such asset as of the determination date and (y) the amount of
such Indebtedness;

 

(D)          the amount of Indebtedness represented
by obligations under any Currency Agreement or Interest Rate Agreement shall be
the termination value of such agreement that would be payable by such Person if
it was terminated as of the date of determination; and

 

(E)           money borrowed and set aside at the
time of the incurrence of any Indebtedness in order to refund the payment of
the interest on such Indebtedness shall not be deemed to be “Indebtedness” so
long as such money is held to secure the payment of such interest.

 

Notwithstanding the
foregoing, Indebtedness shall not include:

 

(i)            trade payables and accrued
liabilities arising in the ordinary course of business;

 

(ii)           any liability for Federal, state,
local or other taxes;

 

(iii)          performance, surety or appeal bonds or
other similar agreements or arrangements provided consistent with industry
practice or in the ordinary course of business; or

 

(iv)          indemnification, adjustment of
purchase price or similar obligations under, or guarantees or letters of
credit, surety bonds, appeal bonds, performance bonds or other similar
agreements or arrangements securing any obligations of the Company or any of
its Subsidiaries pursuant to, agreements relating to the acquisition or
disposition of any assets or Restricted Subsidiary (other than guarantees of
Indebtedness incurred by any Person acquiring all or any portion of such
business, assets or Restricted Subsidiary for the purpose of financing such
acquisition).

 

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

 

“Interest,” when used
with respect to a Discount Security which by its terms bears interest only
after Maturity, means 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.

 

“Interest Rate Agreement”
means, with respect to any Person, any interest rate protection agreement,
interest rate futures agreement, interest rate option agreement, interest rate
swap agreement, interest rate cap agreement, interest rate collar agreement,
interest rate floor agreement, interest rate hedge agreement, option or futures
contract or other similar agreement or arrangement to which such Person is a
party or by which it is bound.

 

“Lien” means any
mortgage, charge, pledge, lien (statutory or otherwise), security interest,
hypothecation, assignment for security, claim, or preference of priority or
other encumbrance upon or with respect to any property of any kind, real or
personal, movable or immovable, now owned or hereafter acquired. A Person shall
be deemed to own subject to a Lien any property which such Person has acquired
or holds subject to the interest of a vendor or 

 

4

 

lessor
under any conditional sale agreement, capital lease or other title retention
agreement having substantially the same economic effect as the foregoing.

 

“Material Subsidiary” of
a Person means any Restricted Subsidiary that would be a significant subsidiary
of such Person, as defined in Rule 1-02 of Regulation S-X promulgated
by the Commission.

 

“Maturity,” when used
with respect to any Security, means the date on which the Principal of such
Security or an installment of Principal or, in the case of a Discount Security,
the Principal Amount payable upon a declaration of acceleration pursuant to Section 6.2,
becomes due and payable as therein or herein provided, whether at the Stated
Maturity or by declaration of acceleration, call for redemption or otherwise.

 

“Officer” means, with
respect to any Person, the Chairman of the Board, the Chief Executive Officer,
the President, any Executive or Senior Vice President, the Chief Operating
Officer, the Chief Financial Officer, the Chief Accounting Officer, the
Treasurer, any Assistant Treasurer, the Controller, the Secretary, any
Assistant Secretary or any Vice President of such Person.

 

“Officers’ Certificate”
means a certificate signed on behalf of the Company by two Officers of the
Company, one of whom must be the Chief Executive Officer, the Chief Financial
Officer or the principal accounting officer of the Company, that meets the
requirements of Section 12.5.

 

“Opinion of Counsel”
means an opinion from legal counsel that meets the requirements of Section 12.5.
The counsel may be an employee of or counsel to the Company, any Subsidiary of
the Company or the Trustee.

 

“Person” means any
individual, corporation, limited liability company, 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 any series, means the place or places
where, subject to the provisions of Section 4.2, the Principal of and any
interest on the Securities of that series are payable as specified as
contemplated by Section 2.3(a).

 

“Predecessor Security” of
any particular Security means every previous Security evidencing all or a
portion of the same debt as that evidenced by such particular Security; and,
for the purposes of this definition, any Security authenticated and delivered
under Section 2.9 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, as the case may be.

 

“Principal” or “Principal
Amount” of a Security, except as otherwise specifically provided in this
Indenture, means the outstanding principal of the Security plus the premium, if
any, of the Security.

 

“Redemption Date,” when
used with respect to any Security to be redeemed, shall mean the date specified
for redemption of such Security in accordance with the terms of such Security
and 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”
means any Security in the form (to the extent applicable thereto) established
pursuant to Section 2.1 which is registered on the books of the Registrar.

 

“Regular Record Date” for
the interest payable on any Interest Payment Date on the Registered Securities
of any series means the date specified for that purpose as contemplated by Section 2.3(a).

 

“Responsible Officer,”
when used with respect to the Trustee, means any officer within the global
agency and trust services department of the Trustee (or any successor group of
the Trustee) or any other officer of the 

 

5

 

Trustee
customarily performing functions similar to those performed by any of the above
designated officers and also means, with respect to a particular corporate
trust matter, any other officer to whom such matter is referred because of his
knowledge of and familiarity with the particular subject.

 

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

 

“Security Guarantee”
means any guarantee of the obligations of the Company under this Indenture and
the Securities by any Restricted Subsidiary in accordance with the provisions
of this Indenture.

 

“Securities” has the
meaning stated in the first recital of this Indenture and more particularly
means any Securities authenticated and delivered under this Indenture.

 

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

 

“Securityholder” or “Holder,”
when used with respect to any Security, means in the case of a Registered
Security, a person in whose name a Security is registered on the Registrar’s
books and, in the case of a Bearer Security, the bearer thereof and, when used
with respect to any coupon, means the bearer thereof.

 

“Special Record Date” for
the payment of any Defaulted Interest on the Registered Securities of any issue
means a date fixed by the Trustee pursuant to Section 2.13.

 

“Stated Maturity” means,
when used with respect to any note or any installment of interest thereon, the
date specified in such note as the fixed date on which the principal of such
note or such installment of interest is due and payable, and, when used with
respect to any other Indebtedness, means the date specified in the instrument
governing such Indebtedness as the fixed date on which the principal of such
Indebtedness or any installment of interest thereon is due and payable.

 

“Subsidiary” means any
Person a majority of the Voting Stock of which is at the time owned, directly
or indirectly, by the Company or by one or more other Subsidiaries. For
purposes of this definition, any directors’ qualifying shares shall be
disregarded in determining the ownership of a Subsidiary.

 

“TIA” means the Trust
Indenture Act of 1939 (15 U.S.C. §§77aaa -77bbbb) as in effect on the date on
which this Indenture is qualified under the TIA, except as provided in Section 9.3
hereof.

 

“Trustee” means the party
named as such above until a successor replaces it in accordance with the
applicable provisions of this Indenture and thereafter means the successor
serving hereunder.

 

“Unrestricted Subsidiary”
means, except as otherwise specified as contemplated by Section 2.3(a), (a) any
Subsidiary that at the time of determination shall be an Unrestricted
Subsidiary (as designated by the Board of Directors, as provided below) and (b) any
Subsidiary of any Unrestricted Subsidiary; provided, however, that in no event
shall any Guarantor be an Unrestricted Subsidiary. The Board of Directors may
designate any Subsidiary (including any newly acquired or newly formed
Subsidiary) to be an Unrestricted Subsidiary so long as (i) neither the
Company nor any Restricted Subsidiary is directly or indirectly liable for any
Indebtedness of such Subsidiary, (ii) no default with respect to any
Indebtedness of such Subsidiary would permit (upon notice, lapse of time or
otherwise) any holder of any other Indebtedness of the Company or any
Restricted Subsidiary, except any nonrecourse guarantee given solely to support
the pledge by the Company or a Restricted Subsidiary of the Capital Stock of an
Unrestricted Subsidiary, to declare a default on such other Indebtedness or
cause the payment thereof to be accelerated or payable prior to its stated
maturity and (iii) any such designation by the Board of Directors shall be
evidenced to the Trustee by filing a Board Resolution with the Trustee giving
effect to such designation. The Board of Directors may designate any
Unrestricted Subsidiary as a Restricted Subsidiary if immediately after giving
effect to such designation, there would be no Default or Event of Default under
this Indenture.

 

“Voting Stock” means any
class or classes of Capital Stock pursuant to which the holders thereof have
the general voting power under ordinary circumstances to elect at least a
majority of the Board of Directors, managers 

 

6

 

or trustees
of any Person (irrespective of whether or not, at the time, stock of any other
class or classes shall have, or might have voting power by reason of the
happening of any contingency).

 

Section 1.2                                                                                   Other
Definitions.

 

	
  Term Defined

  	
   

  	
  in Section

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  “Covenant
  Defeasance”

  	
   

  	
  8.5

  	
   

  
	
  “Defeasance”

  	
   

  	
  8.4

  	
   

  
	
  “Event
  of Default”

  	
   

  	
  6.1

  	
   

  
	
  “Legal
  Holiday”

  	
   

  	
  12.14

  	
   

  
	
  “Paying
  Agent”

  	
   

  	
  2.5

  	
   

  
	
  “Registrar”

  	
   

  	
  2.5

  	
   

  

 

Section 1.3                                                                                   Terms
of TIA.

 

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

 

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

 

“indenture securities”
means the Securities;

 

“indenture security
holder” means a Holder of a Security;

 

“indenture to be qualified”
means this Indenture;

 

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

 

“obligor” on the
Securities and the Security Guarantees means the Company and the Guarantors,
respectively, and any successor obligor upon the Securities and the Security
Guarantees, respectively.

 

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

 

Section 1.4                                                                                   Rules of
Construction.

 

Unless the context
otherwise requires: (i) a term has the meaning assigned to it; (ii) an
accounting term not otherwise defined has the meaning assigned to it in
accordance with GAAP; (iii) “or” is not exclusive; (iv) words in the
singular include the plural, and in the plural include the singular; (v) provisions
apply to successive events and transactions; (vi) references to sections
of or rules under the Securities Act shall be deemed to include
substitute, replacement of successor sections or rules adopted by the
Commission from time to time; and (vii) unless the context otherwise
requires, any reference to an “Article,” a “Section” or an “Exhibit” refers to
an Article, a Section or an Exhibit, as the case may be, of this
Indenture.

 

ARTICLE II

THE NOTES

 

Section 2.1                                                                                   Form Generally.

 

The Registered Securities
of each series and the Trustee’s certificates of authentication shall be in
substantially such form as shall be established by delivery to the Trustee of
an Officers’ Certificate or in one or more indentures supplemental hereto, in
each case with such appropriate insertions, omissions, substitutions and other
variations 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 

 

7

 

securities
exchange or as may, consistently herewith, be determined by the Officers
executing such Securities as evidenced by their execution of the Securities.

 

The permanent Securities
shall be printed, lithographed, engraved or cord processed or produced by any
combination of these methods or may be produced in any other manner, provided
that such method is permitted by the rules of any securities exchange on
which such Securities may be listed, all as determined by the Officers
executing such Securities as evidenced by their execution of such Securities.

 

Section 2.2                                                                                   Securities
in Global Form.

 

If Securities of a series
are issuable in temporary or permanent global form, as specified as
contemplated by Section 2.3(a), then, notwithstanding clause (9) of
Section 2.3(a) and the provisions of Section 2.3(b), 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 from time to time endorsed thereon
or otherwise notated on the books and records of the Registrar and that the
aggregate amount of Outstanding Securities represented thereby may from time to
time be reduced to reflect exchanges. Any endorsement of a Security in global
form to reflect the amount of 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 2.4 or 2.11. Subject to the provisions of Section 2.4
and, if applicable, Section 2.11, the Trustee shall deliver and redeliver
any Security in 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 2.4 or 2.11 has been, or simultaneously
is, delivered, any instructions by the Company with respect to endorsement or
other notation on the books and records of the Registrar or delivery or
redelivery of a Security of such series in global form shall be in writing but
need not comply with Section 12.4 or 12.5 and need not be accompanied by
an Opinion of Counsel (except as required by Section 2.4).

 

The provisions of the
last sentence of Section 2.4 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 12.4
or 12.5 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 Section 2.4.

 

Notwithstanding the
provisions of Sections 2.1 and 2.13, unless otherwise specified as
contemplated by Section 2.3(a), payment of Principal of and any interest
on any Security in global form shall be made to the person or persons specified
therein.

 

None of the Company, the
Guarantor, if any, the Trustee of such series of Securities, any Paying Agent
or the 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 Global Security or for maintaining, supervising or reviewing any
records relating to such beneficial ownership interests.

 

Section 2.3                                                                                   Title
and Terms.

 

(a)           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. There shall be
established and, subject to Section 2.4, set forth, or determined in the
manner provided, in an Officers’ Certificate or established in one or more
indentures supplemental hereto, prior to the issuances of Securities of any
series, any or all of the following, as applicable:

 

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

 

(2)           any limit upon the aggregate
Principal Amount of the Securities of the series which may be authenticated and
delivered under this Indenture (except for Securities authenticated and
delivered upon registration of, transfer of, or in exchange for, or in lieu of,
other Securities of the series pursuant to Sections 2.8, 

 

8

 

2.9,
2.11, 3.6, 9.5 or 10.3 and except for any Securities which, pursuant to Section 2.4,
are deemed never to have been authenticated and delivered hereunder);

 

(3)           the price or prices at which the
Securities of the series will be issued;

 

(4)           if the Securities of the series will
be guaranteed and the terms of any such Guarantees;

 

(5)           the date or dates on which the
Principal of the Securities of the series is payable;

 

(6)           the interest rate or rates of the
Securities of the series or the method for calculating the interest rate, and
the date or dates from which any such interest shall accrue;

 

(7)           the place or places where, subject to
the provisions of Section 4.2, the Principal of or interest on Securities
of the series will be payable and where any Securities of the series may be
surrendered for registration of transfer, Securities of the series may be
surrendered for exchange and notices and demands to or upon the Company in
respect of the Securities of the series and this Indenture may be served;

 

(8)           the right, if any, to redeem the
Securities of the series and the terms and conditions upon which Securities of
the series may be redeemed, in whole or in part;

 

(9)           any mandatory or optional sinking
fund or analogous provisions;

 

(10)         whether the Securities of the series
will be secured and any provisions relating to the security provided;

 

(11)         if and the terms and conditions upon
which the Securities of the series may or must be converted into securities of
the Company or exchanged for securities of the Company or another enterprise;

 

(12)         if other than the Principal Amount
thereof, the portion of the Principal Amount of any Securities of the series
which shall be payable upon declaration of acceleration of the Maturity thereof
pursuant to Section 6.2;

 

(13)         whether the Securities of the series,
in whole or any specified part, shall not be defeasible pursuant to Section 8.4
or 8.5 or both such Sections and, if other than by an Officers’ Certificate,
the manner in which any election by the Company to defease such Securities
shall be evidenced;

 

(14)         any addition to or change in the Events
of Default which apply to any Securities of the series and any change in the
right of the Trustee or the requisite Holders of such Securities to declare the
Principal Amount thereof due and payable pursuant to Section 6.2;

 

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

 

(16)         if other than U.S. dollars, the
currency or currencies, including composite currencies, in which payment of the
Principal of or interest on the Securities of the series shall be payable and
whether the Securities of the series may be satisfied and discharged other than
as provided in Article VIII;

 

(17)         any terms applicable to Original Issue
Discount, if any, (as that term is defined in the Internal Revenue Code of 1986
and the Regulations thereunder) including the rate or rates at which such
Original Issue Discount, if any, shall accrue;

 

(18)         if the Securities of the series may be
issued or delivered (whether upon original issuance or upon exchange of a
temporary Security of such series or otherwise), or any installment of
Principal of or any interest is payable, only upon receipt of certain
certificates or other documents or satisfaction of other conditions in addition
to those specified in this Indenture, the form and terms of such certificates,
documents or conditions;

 

9

 

(19)         whether the Securities may be
represented initially by a Security in temporary or permanent global form and,
if so, the Depositary with respect to any such temporary or permanent Global
Security, and if other than as provided in Section 2.8 or 2.11, as
applicable, whether and the circumstances under which beneficial owners of
interests in any such temporary or permanent Global Security may exchange such
interests for Securities of such series and of like tenor of any authorized
form and denomination;

 

(20)         whether Securities of the series are to
be issued as Registered Securities, Bearer Securities or both, and any other
terms required for the establishment of a series of Bearer Securities,
including, but not limited to, tax compliance procedures;

 

(21)         any special United States Federal
income tax considerations applicable to the Securities of the series;

 

(22)         any addition to or change in the
covenants set forth in Article IV which apply to Securities of the series;
and

 

(23)         any other terms of the Securities of
the series (which terms shall not be inconsistent with the provisions of this
Indenture, except as permitted by Section 9.1(8)).

 

All Securities of any one
series shall be substantially identical except as to denomination and the rate
or rates of interest, if any, and Stated Maturity, the date from which
interest, if any, shall accrue and except as may otherwise be provided in or
pursuant to an Officers’ Certificate pursuant to this Section 2.3(a) or
in any 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 for issuances of additional Securities of such series or
for the establishment of additional terms with respect to the Securities of
such series.

 

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

 

(b)           Unless otherwise provided as
contemplated by Section 2.3(a) with respect to any series of
Securities, any Securities of a series shall be issuable in denominations of
$1,000 or integral multiples thereof.

 

Section 2.4                                                                                   Execution,
Authentication, Delivery and Dating.

 

The Securities shall be
executed on behalf of the Company by an Officer by manual or facsimile
signature. If an Officer whose signature is on a Security no longer holds that
office at the time a Security is authenticated, the Securities shall
nevertheless be valid.

 

At any time and from time
to time after the execution and delivery of this Indenture (and subject to
delivery of an Officers’ Certificate or a supplemental indenture as set forth
in Section 2.3(a) with respect to the initial issuance of Securities
of any series), the Company may deliver Securities of any series executed by
the Company to the Trustee for authentication, together with a Company Order
for the authentication and delivery of such Securities; and the Trustee in
accordance with such Company Order shall authenticate and deliver such Securities.
If the forms or terms of the Securities of the series have been established in
or pursuant to one or more Officers’ Certificates as permitted by
Sections 2.1 and 2.3(a), 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 shall be fully
protected in relying upon, an Opinion of Counsel stating:

 

(a)           that the form or forms and terms of
such Securities have been duly authorized by the Company and established in
conformity with the provisions of this Indenture; and

 

10

 

(b)           that such Securities when
authenticated and delivered by the Trustee or its authenticating agent 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, enforceable in accordance with their terms, subject to
customary exceptions.

 

Notwithstanding the
provisions of Section 2.3(a) and of the preceding paragraph, if all
Securities of a series are not to be originally issued at one time, it shall
not be necessary to deliver the Officers’ Certificate otherwise required
pursuant to Section 2.3(a) and the Opinion of Counsel required by the
preceding paragraph at or prior to the time of authentication of each Security
of such series if such documents are delivered at or prior to the
authentication upon original issuance of the first Security of such series to
be issued.

 

Each Security shall be
dated the date of its authentication.

 

No Security shall be
entitled to any benefit under this Indenture or be valid or obligatory for any
purpose unless there appears on such Security a certificate of authentication
substantially in the form provided for 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 has been duly authenticated and delivered hereunder. 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.

 

	
   

  	
  [                                  ],
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized
  Officer

  

 

Notwithstanding the
foregoing, if any Security shall have been duly 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 2.12
together with a written statement (which need not comply with Section 12.4
or 12.5 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 shall be deemed never to have been authenticated
and delivered hereunder and shall never be entitled to the benefits of this
Indenture.

 

Section 2.5                                                                                   Registrar
and Paying Agent.

 

The Company shall
maintain, with respect to each series of Securities, an office or agency where
such Securities may be presented for registration of transfer or for exchange (“Registrar”)
and an office or agency where such Securities may be presented for payment (“Paying
Agent”). The Registrar shall keep a register of the Securities and of their
transfer and exchange. The Company may appoint one or more co-registrars and
one or more additional paying agents. The term “Registrar” includes any
co-registrar and the term “Paying Agent” includes any additional paying agent.
The Company may change any Paying Agent or Registrar without notice to any
Holder. The Company shall promptly notify the Trustee in writing of the name
and address of any Paying Agent not a party to this Indenture. If the Company
fails to appoint or maintain another entity as Registrar or Paying Agent, the
Trustee shall act as such. The Company or any of its Subsidiaries may act as
Paying Agent or Registrar.

 

The Company shall enter
into an appropriate agency agreement with respect to each series of Securities
with any Registrar or Paying Agent (if not the Trustee). The agreement shall
implement the provisions of this Indenture that relate to such agent. The
Company shall notify the Trustee of the name and address of any such agent. If
the Company fails to maintain a Registrar or Paying Agent for a particular
series of Securities, the Trustee shall act as such and shall be entitled to
appropriate compensation therefor pursuant to Section 7.7. The Company or
any Subsidiary or an Affiliate of either of them may act as Paying Agent or
Registrar.

 

The Company initially
appoints the Trustee and the Trustee accepts its appointment to act as the
Registrar and Paying Agent.

 

11

 

Section 2.6                                                                                   Paying
Agent to Hold Money in Trust.

 

The Company shall require
each Paying Agent other than the Trustee to agree in writing that the Paying
Agent will hold in trust for the benefit of Holders of Securities of any series
or the Trustee all money held by the Paying Agent for the payment of Principal
of or interest on such series of Securities, and will notify the Trustee of any
default by the Company in making any such payment. While any such default
continues, the Trustee may require a Paying Agent to pay all money held by it
to the Trustee. The Company at any time may require a Paying Agent to pay all
money held by it to the Trustee. Upon payment over to the Trustee, the Paying
Agent (if other than the Company or a Subsidiary) shall have no further
liability for the money. If the Company or a Subsidiary acts as Paying Agent,
it shall segregate and hold in a separate trust fund for the benefit of the
Holders of any series of Securities all money held by it as Paying Agent.

 

Section 2.7                                                                                   Holder
Lists.

 

The Trustee shall
preserve in as current a form as is reasonably practicable the most recent list
available to it of the names and addresses of all Holders of each series of
Securities and shall otherwise comply with TIA §312(a). If the Trustee is not
the Registrar, the Company shall cause to be furnished to the Trustee at least
seven Business Days before each interest payment date and at such other times
as the Trustee may request in writing, a list in such form and as of such date
as the Trustee may reasonably require of the names and addresses of the Holders
of such series of Securities and the Company shall otherwise comply with TIA
§312(a).

 

Section 2.8                                                                                   Registration,
Registration of Transfer and Exchange.

 

Upon surrender for
registration of transfer of any Securities of a series at an office or agency
of the Company designated pursuant to Section 4.2 for such purpose, the
Company shall execute, and the Trustee shall authenticate and deliver, in the
name of the designated transferee or transferees, one or more new Securities of
the same series of any authorized denominations, of a like aggregate principal
amount. The Company shall not charge a service charge for any registration of
transfer or exchange, but the Company may require payment of a sum sufficient
to pay all taxes, assessments or other governmental charges that may be imposed
in connection with the transfer or exchange of the Securities from the
Securityholder requesting such transfer or exchange (other than any exchange of
a temporary Security for a permanent Security not involving any change in
ownership or any exchange pursuant to Section 2.11, 3.6, 9.5 or 10.3, not
involving any transfer).

 

Notwithstanding any other
provisions (other than the provisions set forth in the sixth and seventh
paragraphs) of this Section 2.8, a Security in global form representing
all or a portion of the Securities of a series may not be transferred except as
a whole by the Depositary for such series to a nominee of such Depositary or by
a nominee of such Depositary to such Depositary or another nominee of such
Depositary or by such Depositary or any such nominee to a successor Depositary
for such series or a nominee of such successor Depositary.

 

At the option of the
Holder, Securities of any series may be exchanged for other Securities of the
same series of any authorized denomination or denominations, of a like
aggregate Principal Amount and tenor, upon surrender of the Securities to be
exchanged at such office or agency. Whenever any Securities are so surrendered
for exchange, the Company shall execute, and the Trustee shall authenticate and
deliver, the Securities which the Holder making the exchange is entitled to
receive.

 

If at any time the
Depositary for the Securities of a series notifies the Company that it is
unwilling or unable to continue as Depositary for the Securities of such
series, the Company shall appoint a successor Depositary with respect to the
Securities of such series. If a successor Depositary for the Securities of such
series is not appointed by the Company within 90 days after the Company
receives such notice, the Company will execute, and the Trustee, upon receipt
of a Company Order for the authentication and delivery of permanent Securities
of such series, will authenticate and deliver Securities of such series in
permanent form in an aggregate Principal Amount equal to the Principal Amount
of the Security or Securities in global form representing such series in
exchange for such Security or Securities in global form.

 

12

 

The Company may at any
time and in its sole discretion determine that the Securities of any series
issued in the form of one or more Global Securities shall no longer be
represented by such Global Security or Securities. In such event the Company
will execute, and the Trustee, upon receipt of a Company Order for the
authentication and delivery of permanent Securities of such series, will
authenticate and deliver Securities of such series in permanent form and in an
aggregate Principal Amount equal to the Principal Amount of the Security or
Securities in global form representing such series in exchange for such
Security or Securities in global form.

 

Notwithstanding the
foregoing, except as otherwise specified in the preceding two paragraphs or as
contemplated by Section 2.3(a), any Global Security shall be exchangeable
only as provided in this paragraph. If the beneficial owners of interests in a
Global Security are entitled to exchange such interests for permanent Securities
of such series and of like Principal Amount and tenor but of another authorized
form and denomination, as specified as contemplated by Section 2.3(a),
then without unnecessary delay but in any event not later than the earliest
date on which such interests may be so exchanged, the Company shall deliver to
the Trustee permanent Securities in aggregate Principal Amount equal to the
Principal Amount of such Global Security, executed by the Company. On or after
the earliest date on which such interests may be so exchanged, such Global
Security shall be surrendered by the Depositary 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 permanent Securities without charge and the
Trustee shall authenticate and deliver, in exchange for each portion of such
Global Security, an equal aggregate Principal Amount of permanent Securities of
the same series of authorized denominations and of like tenor as the portion of
such Global Security to be exchanged which shall be in the form of Securities,
or any combination thereof, as shall be specified by the beneficial owner
thereof; provided, however, that notwithstanding the last paragraph of this Section 2.8,
no such exchanges may occur during a period beginning at the opening of
business 15 days before any selection of Securities of that series to be
redeemed and ending on the relevant Redemption Date. If a Registered Security
is issued in exchange for any portion of a Global Security after the close of
business at the office or agency 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 (as defined herein), 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 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 Global Security is payable in accordance with
the provisions of this Indenture.

 

Upon the exchange of a
Security in global form for Securities in permanent form, such Security in
global form shall be cancelled by the Trustee. All cancelled Securities held by
the Trustee shall be destroyed by the Trustee and a certificate of their
destruction delivered to the Company unless the Company directs, by Company
Order, that the Trustee shall cancel Securities and deliver a certificate of
destruction to the Company. Securities issued in exchange for a Security in
global form pursuant to this Section 2.8 shall be registered in such names
and in such authorized denominations as the Depositary for such Security in
global form, pursuant to instructions from its direct or indirect participants
or otherwise, shall instruct the Trustee in writing. The Trustee shall deliver
such Securities as instructed in writing by the Depositary.

 

All Securities issued
upon any registration of transfer or exchange of Securities shall be the valid
obligations of the Company, evidencing the same debt, and entitled to the same
benefits under this Indenture, as the Securities surrendered upon such
registration of transfer or exchange.

 

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

 

The Company shall not be
required (i) to issue, register the transfer of or exchange any Securities
of any series during a period beginning at the opening of 15 Business Days
before any selection of Securities of that series to be redeemed and ending at
the close of business on the day of the mailing of the relevant notice of
redemption or (ii) to register the transfer of or exchange any Security of
a series so selected for redemption, in whole or in part, except the unredeemed
portion of any Security being redeemed in part.

 

13

 

Section 2.9                                                                                   Replacement
Securities.

 

If (a) any mutilated
Security is surrendered to the Trustee or (b) the Company and the Trustee
receive evidence to their satisfaction of the destruction, loss or theft of any
Security, and there is delivered to the Company and the Trustee such security
or indemnity as may be required by them to save each of them harmless, then, in
the absence of written notice to the Company, any such paying agent or the
Trustee that such Security has been acquired by a bona fide purchaser, the
Company shall issue and execute and upon its written request the Trustee or
paying agent outside the United States shall authenticate and deliver, in
exchange for any such mutilated Security or in lieu of any such destroyed, lost
or stolen Security, a new Security of the same series and of like tenor and
Principal Amount, bearing a number not contemporaneously outstanding.

 

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

 

Upon the issuance of any
new Securities 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 or Paying Agent) connected therewith.

 

Every new Security of any
series issued pursuant to this Section in lieu of any mutilated,
destroyed, lost or stolen Security shall constitute an original additional
contractual obligation of the Company and any such new Security shall be
entitled to all benefits of this Indenture equally and proportionately with any
and all other Securities duly issued hereunder.

 

The provisions of this Section 2.9
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.

 

Section 2.10                                                                            Outstanding
Securities.

 

Securities of any series “Outstanding”
at any time are, as of the date of determination, all the Securities of such
series theretofore authenticated by the Trustee for such series except for
those cancelled by it, those delivered to it for cancellation and those described
in this Section as not outstanding. A Security does not cease to be “Outstanding”
because the Company or an Affiliate thereof holds the Security. Subject to the
foregoing, only Securities outstanding at the time of such determination shall
be considered in any such determination (including, without limitation,
determinations pursuant to Articles VI and IX). In addition, in
determining whether the Holders of the requisite Principal Amount of
Outstanding Securities have given or concurred in any request, demand,
authorization, direction, notice, consent or waiver hereunder, (i) the
Principal Amount of a Discount Security that shall be deemed to be Outstanding
shall be the amount of the Principal thereof that would be due and payable as
of the date of such determination upon acceleration of the Maturity thereof
pursuant to Section 6.2, (ii) the Principal Amount of a Security
denominated in a foreign currency or currencies shall be the Dollar equivalent,
as determined on the date of original issuance of such Security, of the
Principal Amount (or, in the case of a Discount Security, the Dollar equivalent
on the date of original issuance of such Security of the amount determined as
provided in (i) above) of such Security.

 

If a Security has been
replaced pursuant to Section 2.8 in exchange for or in lieu of which
another Security has been authenticated and delivered pursuant to this
Indenture, it ceases to be Outstanding unless the Trustee receives proof
satisfactory to it that the replaced Security is held by a bona fide purchaser.

 

If the Trustee (other
than the Company, a Subsidiary of the Company or an Affiliate of any thereof)
holds, in accordance with this Indenture, on a Redemption Date or on Stated
Maturity, money sufficient to pay Securities payable on that date, then on and
after that date such Securities shall cease to be Outstanding and interest, if
any, on such Securities shall cease to accrue.

 

14

 

Section 2.11                                                                            Temporary
Securities.

 

Pending the preparation
of permanent Securities of any series, the Company may execute, and upon
Company Order the Trustee shall authenticate and deliver, temporary Securities.
Temporary Securities shall be substantially in the form of permanent Securities
but may have variations that the Company considers appropriate for temporary
Securities and as shall be reasonably acceptable to the Trustee. The Company
may prepare and the Trustee upon request shall authenticate permanent
Securities of the same series and date of maturity in exchange for temporary
Securities. Until so exchanged in full, temporary Securities of any series
shall in all respects be entitled to the same benefits under this Indenture as
permanent Securities of the same series.

 

Section 2.12                                                                            Cancellation.

 

The Company at any time
may deliver Securities to the Trustee for cancellation. The Registrar and
Paying Agent shall forward to the Trustee any Securities surrendered to them
for registration of transfer, exchange or payment. The Trustee and no one else
shall cancel all Securities surrendered for registration of transfer, exchange,
payment, replacement or cancellation and shall dispose of the Securities in
accordance with its customary procedures (subject to the record retention
requirement of the Exchange Act). The Company may not issue new Securities to
replace Securities that it has paid or that have been delivered to the Trustee
for cancellation.

 

Section 2.13                                                                            Payment
of Interest; Interest Rights Preserved.

 

Unless otherwise provided
as contemplated by Section 2.3(a) with respect to any series of
Securities, interest on any Security which is payable, and is 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.

 

Any interest on any
Security of any series which 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 Holder on the relevant Regular
Record Date by virtue of having been such Holder. The Company shall pay such
Defaulted Interest in any lawful manner plus, to the extent lawful, interest
payable upon the Defaulted Interest to the Persons who are Holders of the
series on a subsequent special record date, which date shall be at the earliest
practicable date but in all events at least five Business Days prior to the
payment date (herein called “Special Record Date”). The Company shall fix or
cause to be fixed each such Special Record Date and payment date, and shall,
promptly thereafter, notify the Trustee of any such date. At least 15 days
before the Special Record Date, the Company (or the Trustee, in the name of and
at the expense of the Company) shall mail to the Holders of the series a notice
that states the Special Record Date, the related payment date and the amount of
such interest to be paid. The Company may pay Defaulted Interest in any other lawful
manner.

 

Subject to the foregoing
provisions of this Section and Section 2.8, 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 2.14                                                                            Persons
Deemed Owners.

 

Prior to due presentment
of a Security for registration of transfer, the Company, the Trustee and any
agent of the Company or the Trustee may treat the person in whose name such
Security is registered as the owner of such Security for the purpose of
receiving payment of Principal of and (except as otherwise specified as
contemplated by Section 2.3(a) and subject to Section 2.8 and
2.13) interest on such Security and for all other purposes whatsoever, whether
or not such Security be overdue, and neither the Company, the Trustee nor any
agent of the Company or the Trustee shall be affected by notice to the
contrary.

 

None of the Company, the
Trustee, any Paying Agent or the 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.

 

15

 

Section 2.15                                                                            Computation
of Interest.

 

Except as otherwise
specified as contemplated by Section 2.3(a) for Securities of any
series, (i) interest on any Securities which bear interest at a fixed rate
shall be computed on the basis of a 360-day year comprised of twelve 30-day
months and (ii) interest on any Securities which bear interest at a
variable rate shall be computed on the basis of the actual number of days in an
interest period divided by 360.

 

Section 2.16                                                                            CUSIP
Numbers.

 

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

 

ARTICLE III

REDEMPTION

 

Section 3.1                                                                                   Right
to Redeem; Notice of Redemption to Trustee.

 

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 2.3(a) for Securities of any series) in accordance with
this Article III. If the Company elects to redeem Securities of any
series, it shall, at least 30 days but not more than 60 days before the
Redemption Date, notify the Trustee in writing of, the Redemption Date and the
Principal Amount of and of any other information necessary to identify the
Securities of such series to be redeemed and the Redemption Price.

 

Section 3.2                                                                                   Selection
of Securities to Be Redeemed.

 

Unless otherwise specified
as contemplated by Section 2.3(a) with respect to any series of
Securities, if less than all the Securities of any series with the same issue
date, interest rate and Stated Maturity are to be redeemed, the Trustee shall
select the particular Securities to be redeemed by such method as the Trustee
considers fair and appropriate, which method 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 make
the selection not more than 60 days before the Redemption Date from Outstanding
Securities of such series not previously called for redemption. Provisions of
this Indenture that apply to Securities called for redemption also apply to
portions of Securities called for redemption. The Trustee shall notify the
Company promptly in writing of the Securities to be redeemed and, in the case
of any portions of Securities to be redeemed, the Principal Amount thereof to
be redeemed.

 

Section 3.3                                                                                   Notice
of Redemption to Holders.

 

Unless otherwise
specified as contemplated by Section 2.3(a) with respect to any
series of Securities, at least 30 days but not more than 60 days before a
Redemption Date, the Company shall mail or cause to be mailed, by first class
mail, a notice of redemption to each Holder of Securities to be redeemed. The
notice shall identify the Securities to be redeemed (including “CUSIP”
number(s), if any) and shall state: (i) the Redemption Date; (ii) the
Redemption Price; (iii) if fewer than all the Outstanding Securities of
any series are to be redeemed, the identification (and in the case of partial
redemption, the Principal Amounts) of the particular Securities to be redeemed;
(iv) that the particular Securities to be redeemed must be surrendered to
the Paying Agent to collect the Redemption Price; (v) that on the Redemption
Date the Redemption Price will become due and payable upon each such Security
(or portion thereof) to be redeemed and, if applicable, that interest thereon
will cease to accrue on and after said date; (vi) the paragraph of the
particular Securities called for redemption and/or the Section of this 

 

16

 

Indenture
pursuant to which such Securities are being redeemed; (vii) the place or
places where such Securities are to be surrendered for payment of the Redemption
Price; (viii) that the redemption is for a sinking fund, if such is the
case; and (ix) that no representation is made as to the correctness or
accuracy of the “CUSIP” number, if any, listed in such notice or printed on the
particular Securities called for redemption.

 

At the Company’s request,
the Trustee shall give the notice of redemption in the Company’s name and at
its expense; provided, however, that, in all cases, the text of such Company’s
notice shall be prepared by the Company.

 

Section 3.4                                                                                   Effect
of Notice of Redemption.

 

Once notice of redemption
is mailed in accordance with Section 3.3, Securities of a series called
for redemption become irrevocably due and payable on the Redemption Date at the
Redemption Price. A notice of redemption may not be conditional. Upon surrender
to the Paying Agent, such Securities shall be paid at the Redemption Price plus
accrued interest at the Redemption Date.

 

Section 3.5                                                                                   Deposit
of Redemption Price.

 

No later than 11:00 a.m.,
New York City time, on the Redemption Date, the Company shall deposit with the
Paying Agent money sufficient to pay the Redemption Price of and accrued
interest on all Securities to be redeemed on that date. The Paying Agent shall
promptly return to the Company any money deposited with the Paying Agent by the
Company in excess of the amounts necessary to pay the Redemption Price of, and
accrued interest on, all Securities to be redeemed.

 

If the Company complies
with the provisions of the preceding paragraph, on and after the Redemption Date,
interest shall cease to accrue on the Securities or the portions of Securities
called for redemption. If a Security is redeemed on or after an interest record
date but on or prior to the related interest payment date, then any accrued and
unpaid interest shall be paid to the Person in whose name such Security was
registered at the close of business on such record date. If any Security called
for redemption shall not be so paid upon surrender for redemption because of
the failure of the Company to comply with the preceding paragraph, interest
shall be paid on the unpaid Principal, from the Redemption Date until such
Principal is paid, and to the extent lawful on any interest not paid on such
unpaid Principal, in each case at the rate provided in the Securities.

 

Section 3.6                                                                                   Securities
Redeemed in Part.

 

Upon surrender of a
Security that is redeemed in part, the Company shall issue and execute and,
upon the Company’s written request, the Trustee shall authenticate for the
Holder of such Securities a new Security equal in Principal Amount to the
unredeemed portion of the Security surrendered.

 

ARTICLE IV

COVENANTS

 

Section 4.1                                                                                   Payment
of Securities.

 

The Company shall pay or
cause to be paid the Principal of and interest on the Securities on the dates
and in the manner provided in the Securities. Principal and interest shall be
considered paid on the date due if the Paying Agent, if other than the Company
or a Subsidiary thereof, holds as of 11:00 a.m. New York City time on the
due date money deposited by the Company in immediately available funds and
designated for and sufficient to pay all Principal and interest then due.
Unless otherwise provided as contemplated by Section 2.3(a) with
respect to any series of Securities, at the option of the Company interest may
be paid by check mailed to the address of the Holder as such address appears on
the securities register.

 

17

 

Section 4.2                                                                                   Maintenance
of Office or Agency.

 

The Company shall
maintain in each Place of Payment for any series of Securities an office or
agency (which may be an office of the Trustee or an affiliate of the Trustee,
Registrar or co-registrar) where Securities of a series may be surrendered for
registration of transfer or for exchange and where notices and demands to or
upon the Company in respect of the Securities of such series and this Indenture
may be served. The Company shall give prompt written notice to the Trustee of
the location, and any change in the location, of such office or agency. If at
any time the Company 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, and the Company hereby appoints the
Trustee as its agent to receive all such presentations, surrenders, notices and
demands.

 

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

 

With respect to any
Global Security, and except as otherwise may be specified for such Global
Security as contemplated by Section 2.3(a), the Corporate Trust Office for
the Trustee shall be the Place of Payment where such Global Security may be
presented or surrendered for payment or for registration of transfer or
exchange, or where successor Securities may be delivered in exchange therefore,
provided, however, that any such payment, presentation, surrender or delivery
effected pursuant to the procedures of the Depositary for such Global Security
shall be deemed to have been effected at the Place of Payment for such Global
Security in accordance with the provisions of this Indenture.

 

The Company hereby
designates the Corporate Trust Office of the Trustee as one such office or
agency of the Company in accordance with Section 12.2.

 

Section 4.3                                                                                   Reports.

 

The Company shall deliver
to the Trustee, promptly after it files the annual and quarterly reports,
information, documents and other reports with the Commission, copies of such
annual report and of the information, documents and other reports (or copies of
such portions of any of the foregoing as the Commission may by rules and
regulations prescribe) which the Company is required to file with the
Commission pursuant to Section 13 or 15(d) of the Exchange Act. The
Company also shall comply with the other provisions of TIA §314(a).

 

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

 

Section 4.4                                                                                   Compliance
Certificate.

 

The Company shall deliver
to the Trustee, within 120 days after the end of each fiscal year ending after
the date hereof, an Officers’ Certificate stating whether or not, to the best
knowledge of the signers thereof, the Company is in default in the performance
and observance of any of the terms, provisions and conditions of this Indenture
(without regard to any period of grace or requirement of notice provided
hereunder) and, if the Company shall be in default, specifying all such
defaults and the nature and status thereof of which they may have knowledge.

 

18

 

ARTICLE V

SUCCESSORS

 

Section 5.1                                                                                   Consolidation,
Merger and Sale of Assets.

 

The Company will not, in
a single transaction or through a series of transactions, consolidate with or
merge with or into any other Person or sell, assign, convey, transfer, lease or
otherwise dispose of all or substantially all of its properties and assets to
any other Person or Persons, unless at the time and immediately after giving
effect thereto (i) either (a) the Company will be the continuing
corporation or (b) the Person (if other than the Company) formed by such
consolidation or into which the Company is merged or the Person that acquires
by sale, assignment, conveyance, transfer, lease or disposition all or
substantially all the properties and assets of the Company on a consolidated
basis (1) will be a corporation duly organized and validly existing under
the laws of the United States of America, any state thereof or the District of
Columbia and (2) will expressly assume, by a supplemental indenture in
form reasonably satisfactory to the Trustee, the Company’s obligation for the
due and punctual payment of Principal of and interest on all the Securities and
the performance and observance of every covenant of this Indenture on the part
of the Company to be performed or observed and (ii) immediately before and
immediately after giving effect to such transaction or series of transactions
on a pro forma basis (and treating any obligation of the Company or any
Restricted Subsidiary incurred in connection with or as a result of such
transaction or series of transactions as having been incurred at the time of
such transaction), no Default or Event of Default will have occurred and be
continuing.

 

Section 5.2                                                                                   Successor
Person Substituted.

 

Upon any consolidation or
merger, or any sale, assignment, conveyance, transfer, lease or disposition of
all or substantially all of the properties and assets of the Company in
accordance with Section 5.1, the successor Person formed by such
consolidation or into which the Company is merged or the successor Person to
which such sale, assignment, conveyance, transfer, lease or disposition is made
shall succeed to, and be substituted for, and may exercise every right and
power of, the Company under this Indenture with the same effect as if such
successor had been named as the Company herein. When a successor assumes all
the obligations of its predecessor under this Indenture or the Securities, the
predecessor shall be released from those obligations; provided that, in the
case of a transfer by lease, the predecessor shall not be released from the
payment of Principal and interest on the Securities.

 

ARTICLE VI

DEFAULTS AND
REMEDIES

 

Section 6.1                                                                                   Events
of Default.

 

Unless otherwise
specified as contemplated by Section 2.3(a) with respect to any
series of Securities, an “Event of Default” occurs, with respect to each series
of Securities individually, if:

 

(1)                                  the
Company defaults in (i) the payment of any interest upon any Security of
such series when the same becomes due and payable and such default continues
for a period of 30 days or (ii) the payment of the Principal of any
Security of such series at its Maturity (upon acceleration, redemption,
required purchase or otherwise);

 

(2)                                  the
Company defaults in the performance, or breach, of any covenant or warranty of
the Company contained in this Indenture with respect to such series of
Securities, which default or breach continues for a period of 60 days after the
Company receives written notice specifying such default from the Trustee or
Holders of Securities of at least 25% of the outstanding principal amount of
such Securities of such series;

 

(3)                                  the
Company or any Material Subsidiary or group of Restricted Subsidiaries that,
taken together, would constitute a Material Subsidiary pursuant to or within
the meaning of Bankruptcy Law:

 

(i)                                     commences
a voluntary case,

 

19

 

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

 

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

 

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

 

(v)                                 admits
in writing its inability to pay debts generally;

 

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

 

(i)                                     is
for relief against the Company or any Material Subsidiary or group of Restricted
Subsidiaries that, taken together, would constitute a Material Subsidiary in an
involuntary case,

 

(ii)                                  appoints
a custodian of the Company or any Material Subsidiary or group of Restricted
Subsidiaries that, taken together, would constitute a Material Subsidiary or
for all or substantially all of the property of the Company or any Material
Subsidiary or group of Restricted Subsidiaries that, taken together, would
constitute a Material Subsidiary, or

 

(iii)                               orders
the liquidation of the Company or any Material Subsidiary, or group of
Restricted Subsidiaries that, taken together, would constitute a Material
Subsidiary, and the order or decree remains unstayed and in effect for 60
consecutive days; or

 

(5)                                  any
other Event of Default provided with respect to Securities of that series,
which is specified in a supplemental indenture hereto or an Officers’
Certificate, in accordance with Section 2.3(a).

 

Section 6.2                                                                                   Acceleration.

 

If an Event of Default
(other than as specified in Section 6.1(3) or (4)) occurs and is
continuing, then the Trustee by written notice to the Company or the Holders of
not less than 25% in aggregate Principal Amount of the Outstanding Securities
of that series by written notice to the Company and the Trustee, may declare
the Principal Amount (or, if any of the Securities of that series are Discount
Securities, such portion of the Principal Amount of such Securities as may be
specified in the terms thereof) of all the Securities of that series to be
immediately due and payable. Upon any such declaration, such Principal (or
portion thereof) shall be due and payable immediately. If an Event of Default
specified in Section 6.1(3) or (4) occurs and is continuing,
then the Principal (or portion thereof) of all the Securities of that series
shall ipso facto become and be immediately due and payable without any
declaration or other act on the part of the Trustee or any Securityholders.

 

At any time after a
declaration of acceleration, but before a judgment or decree for payment of the
money due has been obtained by the Trustee, the Holders of a majority in
aggregate Principal Amount of the Outstanding Securities of any series, by
written notice to the Company and the Trustee, may rescind such declaration and
its consequences if:

 

(1)                                  the
Company has paid or deposited with the Trustee a sum sufficient to pay:

 

(i)                                     all
overdue interest, if any, on all Outstanding Securities of that series,

 

(ii)                                  the
Principal of any Outstanding Securities of that series that has become due
otherwise than by such declaration of acceleration and interest thereon at the
rate or rates prescribed therefore in such Securities,

 

(iii)                               to
the extent that payment of such interest is lawful, interest upon overdue
interest and overdue Principal at the rate or rates prescribed therefore in
such Securities, and

 

20

 

(iv)                              all
sums paid or advanced by the Trustee under this Indenture and the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel; and

 

(2)                                  all
Events of Default, other than the non-payment of amounts of Principal of or
interest on the Securities of such series that has become due solely by such
declaration of acceleration, have been cured or waived.

 

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

 

Section 6.3                                                                                   Other
Remedies.

 

If an Event of Default
with respect to a series of Outstanding Securities occurs and is continuing,
the Trustee may pursue any available remedy to collect the payment of Principal
of and interest on the Securities of such series or to enforce the performance
of any provision of the Securities of such series or this Indenture.

 

The Trustee may maintain
a proceeding even if it does not possess any of the Securities of a series or
does not produce any of them in the proceeding. A delay or omission by the
Trustee or any Holder of a Security of a series in exercising any right or
remedy accruing upon an Event of Default shall not impair the right or remedy
or constitute a waiver of or acquiescence in the Event of Default. All remedies
are cumulative to the extent permitted by law.

 

Section 6.4                                                                                   Waiver
of Past Defaults.

 

The Holders of not less
than a majority in aggregate Principal Amount of the Outstanding Securities of
any series may, on behalf of the Holders of all the Securities of such series,
waive any past Defaults, except a Default in the payment of the Principal or
interest on any Security of such series, or in respect of a covenant or
provision which under this Indenture cannot be modified or amended without the
consent of the Holder of each Outstanding Security of such series affected.
Upon such waiver, such Default shall cease to exist, and any Event of Default
arising therefrom shall be deemed to have been cured for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other Default
or impair any right consequent thereon.

 

Section 6.5                                                                                   Control
by Majority.

 

Holders of a majority in
aggregate Principal Amount of the Outstanding Securities of any series may
direct the time, method and place of conducting any proceeding for exercising
any remedy available to the Trustee or exercising any trust or power conferred
on the Trustee with respect to the Securities of such series. Securityholders
may not enforce this Indenture or the Securities of any series, however, except
as provided in this Indenture. In addition, the Trustee may refuse to follow
any direction that conflicts with law or this Indenture or that the Trustee
determines may be unduly prejudicial to the rights of other Securityholders or
that may involve the Trustee in personal liability.

 

Section 6.6                                                                                   Limitation
on Suits.

 

No individual Holder of
any of the Securities of any series has any right to institute any proceeding
with respect to this Indenture or any remedy hereunder, unless (1) the
Holders of at least 25% in aggregate Principal Amount of the Outstanding
Securities of that series have made written request, and offered reasonable
indemnity, to the Trustee to institute such proceeding as Trustee under the
Securities of that series and this Indenture, (2) the Trustee has failed
to institute such proceeding within 60 days after receipt of such notice and (3) the
Trustee, within such 60-day period, has not received directions inconsistent
with such written request by the Holders of a majority in aggregate Principal
Amount of the Outstanding Securities of that series.

 

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

 

21

 

Section 6.7                                                                                   Rights
of Holders of Securities to Receive Payment.

 

Notwithstanding any other
provision of this Indenture, the right of any Holder of a Security of any
series to receive payment of Principal of and interest on the Security of that
series, on or after the respective due dates expressed in such Security
(including in connection with an offer to purchase), or to bring suit for the
enforcement of any such payment on or after such respective dates, shall not be
impaired or affected without the consent of each such Holder.

 

Section 6.8                                                                                   Collection
Suit by Trustee.

 

If an Event of Default
specified in Section 6.1(1) or (2) with respect to Securities of
any series occurs and is continuing, the Trustee is authorized to recover
judgment in its own name and as trustee of an express trust against the Company
for the whole amount of Principal and interest remaining unpaid on the
Securities of that series and interest on overdue Principal and, to the extent
lawful, interest and such further amount as shall be sufficient to cover the
costs and expenses of collection, including the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel.

 

Section 6.9                                                                                   Trustee
May File Proofs of Claim.

 

The Trustee is authorized
to file such proofs of claim and other papers or documents as may be necessary
or advisable in order to have the claims of the Trustee (including any claim
for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel) and the Holders of the Securities of any
series allowed in any judicial proceedings relative to the Company (or any
other obligor upon the Securities of that series), its creditors or its
property and shall be entitled and empowered to collect, receive and distribute
any money or other property payable or deliverable on any such claims and any
custodian in any such judicial proceeding is hereby authorized by each
Securityholder 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
Securityholders, to pay to the Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.7. To
the extent that the payment of any such compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel, and any other amounts due
the Trustee under Section 7.7 out of the estate in any such proceeding,
shall be denied for any reason, payment of the same shall be secured by a Lien
on, and shall be paid out of, any and all distributions, dividends, money,
securities and other properties that the Securityholders may be entitled to
receive in such proceeding whether in liquidation or under any plan of
reorganization or arrangement or otherwise. Nothing herein contained shall be
deemed to authorize the Trustee to authorize or consent to or accept or adopt
on behalf of any Securityholder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities of any series or the rights
of any Securityholder, or to authorize the Trustee to vote in respect of the
claim of any Securityholder in any such proceeding.

 

Section 6.10                                                                            Priorities.

 

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

 

First: to the Trustee,
its agents and counsel for amounts due under Section 7.7, including
payment of all compensation, expenses and liabilities incurred, and all
advances made, by the Trustee and the costs and expenses of collection;

 

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

 

Third: to the Company or
to such party as a court of competent jurisdiction shall direct.

 

22

 

The Trustee may fix a
record date and payment date for any payment to Securityholders pursuant to
this Section.

 

Section 6.11                                                                            Undertaking
for Costs.

 

In any suit for the
enforcement of any right or remedy under this Indenture or in any suit against
the Trustee for any action taken or omitted by it as a Trustee, a court in its
discretion may require the filing by any party litigant in the suit of an
undertaking to pay the costs of the suit, and the court in its discretion may
assess reasonable costs, including reasonable attorneys’ fees and expenses,
against any party litigant in the suit, having due regard to the merits and
good faith of the claims or defenses made by the party litigant. This Section 6.11
does not apply to a suit by the Trustee, to a suit by a Securityholder pursuant
to Section 6.7, to a suit by Holders of more than 10% in aggregate
Principal Amount of the Outstanding Securities of any series or to any suit
instituted by any Holder of any Security for the enforcement of the payment of
the Principal of or interest on any Security on or after the Stated Maturity or
Maturities expressed in such Security (or, in the case of redemption, on or
after the Redemption Date).

 

ARTICLE VII

TRUSTEE

 

Section 7.1                                                                                   Duties
of Trustee.

 

(a)                                  If
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 its exercise, as a prudent person would exercise or
use under the circumstances in the conduct of such person’s own affairs.

 

(b)                                 Except
during the continuance of an Event of Default with respect to Securities of any
series:

 

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

 

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

 

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

 

(1)                                  this
paragraph does not limit the effect of paragraph (b) of this Section 7.1;

 

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

 

(3)                                  the
Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.5.

 

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

 

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

 

23

 

Section 7.2                            Rights of Trustee.

 

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

 

(b)           Before the Trustee acts or refrains from acting, it
may require an Officers’ Certificate or an Opinion of Counsel or both. The
Trustee shall not be liable for any action it takes or omits to take in good
faith in reliance on such Officers’ Certificate, Opinion of Counsel or Company
Order. The Trustee may consult with counsel of its selection and the advice of
such counsel or any Opinion of Counsel shall be full and complete authorization
and protection from liability in respect of any action taken, suffered or
omitted by it hereunder in good faith and in reliance thereon.

 

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

 

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

 

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

 

(f)            No provision of this Indenture shall require the
Trustee to expend or risk its own funds or incur any liability. The Trustee
shall be under no obligation to exercise any of its rights or powers under this
Indenture at the request or direction of any of the Holders unless such Holders
shall have offered to the Trustee security or indemnity satisfactory to the
Trustee against any loss, liability or expense that might be incurred by it in
compliance with such request or direction.

 

(g)           The Trustee shall not be bound to make any
investigation into the facts or matters stated in any document, but the
Trustee, in its judgment, may make such further inquiry or investigation into
such facts or matters as it may see fit and, if the Trustee shall determine to
make such further inquiry or investigation, it shall be entitled to examine the
books, records and premises of the Company, personally or by agent or attorney
at the sole cost of the Company, and shall incur no liability or additional
liability of any kind by reason of such inquiry or investigation.

 

(h)           The Trustee 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.

 

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

 

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

 

Section 7.3                            Individual Rights of Trustee.

 

The
Trustee in its individual or any other capacity may become the owner or pledgee
of Securities and may otherwise deal with the Company or any Affiliate of the
Company with the same rights it would have if it were not Trustee. However, in
the event that the Trustee acquires any conflicting interest it must eliminate
such conflict within 90 days, apply to the Commission for permission to
continue as trustee or resign. Any Agent may do the same with like rights and
duties. The Trustee also is subject to Sections 7.10 and 7.11.

 

24

 

Section 7.4                            Trustee’s Disclaimer.

 

The
Trustee shall not be responsible for and makes no representation as to the
validity or adequacy of this Indenture or the Securities, it shall not be
accountable for the Company’s use of the proceeds from the Securities or any
money paid to the Company or upon the Company’s direction under any provision
of this Indenture, it shall not be responsible for the use or application of
any money received by any Paying Agent other than the Trustee, and it shall not
be responsible for any statement or recital herein or any statement in the
Securities or any other document in connection with the sale of the Securities
or pursuant to this Indenture other than its certificate of authentication.

 

Section 7.5                            Notice of Defaults.

 

If a
Default or Event of Default occurs and is continuing with respect to a series
of Securities and if it is known to a Responsible Officer of the Trustee, the
Trustee shall mail to Holders of such Securities as it appears on the Registrar
a notice of the Default or Event of Default in the manner set forth in TIA §315(b) within
10 days after the Trustee obtains knowledge of occurrence thereof. Except in
the case of a Default or Event of Default relating to the payment of Principal
or interest on any Security of any series, the Trustee may withhold the notice
if it determines, in good faith, that withholding the notice is in the
interests of the Holders of such Securities.

 

Section 7.6                            Reports by Trustee to Holders of the
Securities.

 

Within
60 days after each
                
beginning with the                 
following the date of this Indenture, and for so long as Securities remain
outstanding, the Trustee shall mail to each Holder of the Securities a brief
report dated as of such reporting date that complies with TIA §313(a) (but
if no event described in TIA §313(a) has occurred within the twelve months
preceding the reporting date, no report need be transmitted). The Trustee also
shall comply with TIA §313(b)(2). The Trustee also shall transmit by mail all
reports as required by TIA §313(c). A copy of each report at the time of its
mailing to the Holders of Securities shall be mailed to the Company and filed
with the Commission and each stock exchange on which the Securities are listed
in accordance with TIA §313(d). The Company shall notify the Trustee when the
Securities of a particular series are listed on any stock exchange and of any
delisting thereof.

 

Section 7.7                            Compensation and Indemnity.

 

The
Company shall pay to the Trustee from time to time compensation for its
acceptance of this Indenture and services as the Company and the Trustee shall
from time to time agree in writing. The Trustee’s compensation shall not be
limited by any law on compensation of a trustee of an express trust. The
Company shall reimburse the Trustee promptly upon request for all reasonable
disbursements, advances and expenses incurred or made by it in addition to the
compensation for its services. Such expenses shall include the compensation,
disbursements and expenses of the Trustee’s agents and counsel.

 

The
Company shall indemnify the Trustee against any and all losses, damages,
claims, liabilities or expenses incurred by it including taxes (other than
taxes based upon, measured by or determined by the income of the Trustee) in
connection with the performance of its duties under this Indenture, including
the costs and expenses of enforcing this Indenture against the Company
(including this Section 7.7) and defending itself against any claim
(whether asserted by the Company or any Holder or any other person) or
liability in connection with the acceptance, exercise or performance of any of
its powers or duties hereunder, except to the extent any such loss, damage,
claim, liability or expense is determined by a court of competent jurisdiction
to have been caused by its own negligence or bad faith. The Trustee shall
notify the Company promptly of any claim which a Responsible Officer has
actually received for which it may seek indemnity. Failure by the Trustee to so
notify the Company shall not relieve the Company of its obligations hereunder,
except to the extent that the Company is actually prejudiced thereby. The
Company shall defend the claim and the Trustee shall cooperate in the defense.
The Trustee may have separate counsel and the Company shall pay the reasonable
fees and expenses of such counsel. The Company need not pay for any settlement
made without its consent, which consent shall not be unreasonably withheld.

 

The
obligations of the Company under this Section 7.7 shall survive the
satisfaction and discharge of this Indenture.

 

25

 

To
secure the Company’s payment obligations in this Section, the Trustee shall
have a Lien prior to the Securities on all money or property held or collected
by the Trustee, except that held in trust to pay Principal and interest on
particular Securities. Such Lien shall survive the satisfaction and discharge
of this Indenture.

 

When
the Trustee incurs expenses or renders services after an Event of Default
specified in Section 6.1(3) or (4) occurs, the expenses and the
compensation for the services (including the fees and expenses of its agents
and counsel) are intended to constitute expenses of administration under any
Bankruptcy Law.

 

The
Trustee shall comply with the provisions of TIA §313(b)(2) to the extent
applicable.

 

Section 7.8                            Replacement of Trustee.

 

A
resignation or removal of the Trustee and appointment of a successor Trustee
shall become effective only upon the successor Trustee’s acceptance of
appointment as provided in this Section 7.8.

 

The
Trustee may resign in writing at any time and be discharged from the trust
hereby created by so notifying the Company. The Holders of Securities of a
majority in aggregate Principal Amount of the Outstanding Securities of any
series may remove the Trustee by so notifying the Trustee and the Company in
writing. The Company may remove the Trustee if: (a) the Trustee fails to
comply with Section 7.10; (b) the Trustee is adjudged a bankrupt or
an insolvent or an order for relief is entered with respect to the Trustee
under any Bankruptcy Law; (c) a custodian or public officer takes charge
of the Trustee or its property; or (d) the Trustee becomes incapable of
acting.

 

If the
Trustee resigns or is removed or if a vacancy exists in the office of Trustee
for any reason, with respect to Securities of one or more series, the Company
shall promptly appoint a successor Trustee 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 series). Within one year after the successor Trustee takes
office, the Holders of a majority in aggregate Principal Amount of the
Outstanding Securities may appoint a successor Trustee to replace the successor
Trustee appointed by the Company.

 

If a
successor Trustee does not take office within 60 days after the retiring
Trustee resigns or is removed, the retiring Trustee, the Company, or the
Holders of Securities of at least 10% in Principal Amount of the Outstanding
Securities may petition any court of competent jurisdiction for the appointment
of a successor Trustee, at the expense of the Company.

 

If the
Trustee, after written request by any Holder of a Security who has been a
Holder of a Security of any such series for at least six months, fails to
comply with Section 7.10, such Holder of a Security may petition any court
of competent jurisdiction for the removal of the Trustee and the appointment of
a successor Trustee.

 

A
successor Trustee shall deliver a written acceptance of its appointment to the
retiring Trustee and to the Company. Thereupon, the resignation or removal of
the retiring Trustee shall become effective, and the successor Trustee shall
have all the rights, powers and duties of the Trustee under this Indenture. The
successor Trustee shall mail a notice of its succession to Holders of the
Securities. The retiring Trustee shall promptly transfer all property held by
it as Trustee to the successor Trustee, provided all sums owing to the Trustee
hereunder have been paid and subject to the Lien provided for in Section 7.7.
Notwithstanding replacement of the Trustee pursuant to this Section 7.8,
the Company’s obligations under Section 7.7 shall continue for the benefit
of the retiring Trustee.

 

Section 7.9                            Successor Trustee by Merger, etc.

 

If the
Trustee consolidates, merges or converts into, or transfers all or
substantially all of its corporate trust business to another corporation, the
successor corporation without any further act shall be the successor Trustee.

 

26

 

Section 7.10                         Eligibility; Disqualification.

 

The
Trustee shall at all times satisfy the requirements of TIA §§310(a)(1) and
310(a)(5). The Trustee shall have a combined capital and surplus of at least
$50,000,000 as set forth in its most recent published annual report of
condition. The Trustee shall comply with TIA §310(b), including the optional
provision permitted by the second sentence of TIA §310(b)(9). In determining
whether the Trustee has conflicting interests as defined in TIA §310(b)(1), the
provisions contained in the proviso to TIA §310(b)(1) shall be deemed
incorporated herein.

 

Section 7.11                         Preferential Collection of Claims Against
the Company.

 

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

 

Section 7.12                         Trustee’s Application for Instructions
from the Company.

 

Any
application by the Trustee for written instructions from the Company, may, at
the option of the Trustee, set forth in writing any action proposed to be taken
or omitted by the Trustee under this Indenture and the date on and/or after
which such action shall be taken or such omission shall be effective. The
Trustee shall not be liable for any action taken by, or omission of, the
Trustee in accordance with a proposal included in such application on or after
the date specified in such application (which date shall not be less than five
Business Days after the date any officer of the Company actually receives such
application, unless any such officer shall have consented in writing to any
earlier date) unless prior to taking any such action (or the effective date in
the case of an omission), the Trustee shall have received written instructions
in response to such application specifying the action to be taken or omitted.

 

ARTICLE
VIII

SATISFACTION
AND DISCHARGE

 

Section 8.1                            Discharge of Liability on Securities.

 

Except
as otherwise contemplated by Section 2.3(a), this Indenture shall, at the
option of the Board of Directors evidenced by resolutions set forth in an Officers’
Certificate, cease to be of further effect as to all Outstanding Securities or
all Outstanding Securities of any series, as the case may be, and the Trustee,
at the expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of this Indenture, when:

 

(a)           either

 

(1)           all Outstanding Securities or all Outstanding
Securities of any series, as the case may be, theretofore authenticated and
delivered and all coupons, if any, appertaining thereto (other than Securities or
Securities of such series, as the case may be, which have been destroyed, lost
or stolen and which have been replaced as provided in Section 2.9 and
Securities or Securities of such series, as the case may be, for whose payment
money has theretofore been deposited in trust or segregated and held in trust
by the Company and thereafter repaid to the Company or discharged from such
trust, as provided in Section 8.2) have been delivered to the Trustee for
cancellation; or

 

(2)           all such Securities not theretofore delivered to the
Trustee for cancellation:

 

(i)            have become due and payable,

 

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

 

(iii)          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.

 

27

 

The
Company, in the case of (i), (ii) or (iii) above, has deposited or
caused to be deposited with the Trustee as trust funds in trust for the
purpose, an amount sufficient to pay and discharge the entire Indebtedness on
such Securities not theretofore delivered to the Trustee for cancellation, for
Principal and any interest 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;

 

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

 

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

 

The
Trustee shall join in the execution of a document prepared by the Company
acknowledging satisfaction and discharge of this Indenture on demand of the
Company accompanied by an Officers’ Certificate and Opinion of Counsel and at
the cost and expense of the Company.

 

Section 8.2                            Repayment to the Company.

 

The
Trustee and the Paying Agent shall return to the Company on its request any
money held by them for the payment of any amount with respect to the Securities
that remains unclaimed for two years. After return to the Company, Holders entitled
to the money must look to the Company for payment as general creditors unless
an applicable abandoned property law designates another person.

 

Section 8.3                            Option to Effect Defeasance or Covenant
Defeasance.

 

Unless
otherwise specified as contemplated by Section 2.3(a) with respect to
Securities of a particular series, the Company may, at its option, by Board
Resolution, at any time, with respect to any series of Securities, elect to
have either Section 8.4 or Section 8.5 be applied to all of the outstanding
Securities of any series (the “Defeased Securities”), upon compliance with the
conditions set forth below in this Article VIII.

 

Section 8.4                            Defeasance and Discharge.

 

Upon
the Company’s exercise under Section 8.3 of the option applicable to this Section 8.4,
the Company shall be deemed to have been discharged from its obligations with
respect to the Defeased Securities on the date the conditions set forth below
are satisfied (hereinafter “defeasance”). For this purpose, such defeasance
means that the Company shall be deemed to have paid and discharged the entire
Indebtedness represented by the Defeased Securities, which shall thereafter be
deemed to be “outstanding” only for the purposes of Sections 2.4, 2.5,
2.6, 2.9, 2.11, 2.12, 4.1, 4.2, 6.6, 6.7, 7.7, 7.8 and 8.2 of this Indenture
and to have satisfied all its other obligations under such series of Securities
and this Indenture insofar as such series of Securities are concerned (and the
Trustee, at the expense of the Company, and, upon written request, shall
execute proper instruments acknowledging the same). Subject to compliance with
this Article VIII, the Company may exercise its option under this Section 8.4
notwithstanding the prior exercise of its option under Section 8.5 with
respect to a series of Securities.

 

Section 8.5                            Covenant Defeasance.

 

Upon
the Company’s exercise under Section 8.3 of the option applicable under
this Section 8.5, the Company shall be released from its obligations under
Sections 4.3 and 4.4 and Article V and such other provisions as may
be provided as contemplated by Section 2.3(a) with respect to
Securities of a particular series and with respect to the Defeased Securities
on and after the date the conditions set forth below are satisfied (hereinafter
“covenant defeasance”), and the Defeased Securities 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 if any thereof) in
connection with such covenants, but shall continue to be deemed “outstanding”
for all other purposes hereunder. For this purpose, such covenant defeasance
means that, with respect to the Defeased Securities, the Company may omit to
comply with and shall have no liability in respect of any term, condition or
limitation set forth in any such

 

28

 

Section or
Article, whether directly or indirectly, by reason of any reference elsewhere
herein to any such Section or Article or by reason of any reference
in any such Section or Article to any other provisions herein or in
any other document and such omission to comply shall not constitute a Default
or an Event of Default under Section 6.1 but, except as specified above,
the remainder of this Indenture and such Defeased Securities shall be
unaffected thereby.

 

Section 8.6                            Conditions to Defeasance or Covenant
Defeasance.

 

The
following shall be the conditions to application of either Section 8.4 or
8.5 to a series of Outstanding Securities:

 

(1)           The Company shall have irrevocably deposited with the
Trustee, in trust, (i) sufficient funds in the currency or currency unit
in which the Securities of such series are denominated to pay the Principal of
and interest to Stated Maturity (or redemption) on, the Securities of such
series, or (ii) such amount of direct obligations of, or obligations the
Principal of and interest on which are fully guaranteed by, the government
which issued the currency in which the Securities of such series are
denominated, and which are not subject to prepayment, redemption or call, as
will, together with the predetermined and certain income to accrue thereon
without consideration of any reinvestment thereof, be sufficient to pay when
due the Principal of, and interest to Stated Maturity (or redemption) on, the
Securities of such series.

 

(2)           The Company shall (i) have delivered an Opinion
of Counsel that the Company has met all of the conditions precedent to such
defeasance and that the Holders of the Securities of such series 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 tax in the same manner as
if no defeasance and discharge or covenant defeasance, as the case may be, had
occurred or (ii) in the case of an election under Section 8.4, the
Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that (A) the Company has received from, or there has been published by,
the Internal Revenue Service a ruling or (B) since the date this Indenture
was first executed, there has been a change in the applicable Federal income
tax law, in either case to the effect that, and based thereon such Opinion of
Counsel in the United States shall confirm that, the Holders of Outstanding
Securities of that particular series will not recognize income, gain or loss
for Federal income tax purposes as a result of such defeasance.

 

ARTICLE
IX

SUPPLEMENTAL
INDENTURES

 

Section 9.1                            Supplemental Indentures without Consent
of Holders.

 

Without
the consent of any Holders of Securities, the Company 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 corporation to
the Company and the assumption by any such successor of the covenants of the
Company herein, any applicable Guarantor or any other obligor upon the
Securities of such series, the Securities of such series and any applicable
Guarantee in accordance with Article V;

 

(2)           to add to the covenants of the Company or any other
obligor upon the Securities of any series for the benefit of the Holders of all
of the Securities or any series thereof, or to surrender any right or power
herein conferred upon the Company, any other obligor upon the Securities of any
series in this Indenture or the Securities of such series;

 

(3)           to cure any ambiguity, or to correct or supplement any
provision in this Indenture or Securities of any series which may be defective
or inconsistent with any other provision in this Indenture, the Securities or,
if applicable, the Security Guarantees or make any other provisions with
respect to matters or questions arising under this Indenture, the Securities of
any series or, if applicable, the Security Guarantees; provided that, in each
case, such provisions will not adversely affect the interest of the Holders of
any such Securities in any material respect;

 

29

 

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

 

(5)           to provide that any of the Company’s obligations under
any series of Securities or this Indenture shall be guaranteed and the terms
and conditions for the release or substitution of such Security Guarantee;

 

(6)           to evidence and provide for the acceptance of
appointment hereunder by a successor Trustee with respect to the Securities of
one or more series and to add to or change any of the provisions of this
Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one Trustee, pursuant to the requirements
of Section 7.8;

 

(7)           to mortgage, pledge, hypothecate or grant a security
interest in favor of the Trustee for the benefit of the Holders of Securities
of any series as additional security for the payment and performance of the
Company’s or, if applicable, the Guarantor’s obligations herein in any property
or assets;

 

(8)           to add to, change or eliminate any of the provisions
of this Indenture (which addition, change or elimination may apply to one or
more series of Securities), provided that, any such addition, change or
elimination (A) shall neither (i) apply to any Security of any series
created prior to the execution of such supplemental indenture and entitled to
the benefit of such provision nor (ii) modify the rights of the Holder of
any such Security with respect to such provision or (B) shall become
effective only when there is no such Outstanding Security;

 

(9)           to establish the form and terms of Securities of any
series as permitted by Sections 2.1 and 2.3(a), respectively; or

 

(10)         to make any other change that does not adversely
affect the rights of any Securityholder in any material respect.

 

Section 9.2                            Supplemental Indentures with Consent of
Holders.

 

With
the written consent of the Holders of at least a majority in aggregate
Principal Amount of the Outstanding Securities of each series affected by such
supplemental indenture, the Company and the Trustee may amend this Indenture or
the Securities of any series or 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 the Securities of such
series under this Indenture; provided, however, that no such amendment or
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
any installment of Principal or interest on, any such Security, or reduce the
Principal Amount thereof or the rate of interest thereon or any premium payable
upon redemption thereof or reduce the amount of Principal of any such Discount
Security that would be due and payable upon a declaration of acceleration of
maturity thereof pursuant to Section 6.2, or change the Place of Payment
where, or change the coin or currency in which, any Principal of, or any
installment of interest on, any such Security is payable, or impair the right
to institute suit for the enforcement of any such payment on or after the
Stated Maturity thereof (or, in the case of redemption, on or after the
Redemption Date);

 

(2)           reduce the percentage in Principal Amount of the
Outstanding Securities of any series, the consent of whose Holders is required
for any such amendment or supplemental indenture, or the consent of whose
Holders is required for any waiver (of compliance with certain provisions of
this Indenture or certain defaults hereunder and their consequences) with
respect to the Securities of such series provided for in this Indenture; or

 

(3)           modify any of the provisions of this Section, Section 6.4
or 6.7, except to increase the percentage of Outstanding Securities of such
series required for such actions to provide that certain other provisions 

 

30

 

of this Indenture cannot be modified or waived without the consent of
the Holder of each Outstanding Security affected thereby.

 

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.

 

It
shall not be necessary for the consent of the Holders under this Section 9.2
to approve the particular form of any proposed amendment or supplemental
indenture, but it shall be sufficient if such consent approves the substance
thereof.

 

After
an amendment or supplemental indenture under this Section 9.2 becomes
effective, the Company shall mail to each Holder of the particular Securities
affected thereby a notice briefly describing the amendment.

 

Section 9.3                            Compliance with Trust Indenture Act.

 

Every
supplemental indenture executed pursuant to this Article IX shall comply
with the TIA as then in effect.

 

Section 9.4                            Revocation and Effect of Consents,
Waivers and Actions.

 

Until
an amendment or waiver with respect to a series of Securities becomes
effective, a consent to it or any other action by a Holder of a Security of
that series hereunder is a continuing consent by the Holder and every
subsequent Holder of that Security or portion of that Security that evidences the
same obligation as the consenting Holder’s Security, even if notation of the
consent, waiver or action is not made on the Security. However, any such Holder
or subsequent Holder may revoke the consent, waiver or action as to such Holder’s
Security or portion of the Security if the Trustee receives the written notice
of revocation before the date that the consent of the requisite aggregate
Principal Amount of the Securities of that series has been obtained. After an
amendment, waiver or action becomes effective, it shall bind every Holder of
Securities of that series.

 

The
Company may, but shall not be obligated to, fix a record date for the purpose
of determining the Holders entitled to consent to any amendment or waiver with
respect to a series of Securities. If a record date is fixed, then
notwithstanding the first two sentences of the immediately preceding paragraph,
those persons who were Holders of Securities of that series at such record date
(or their duly designated proxies), and only those persons, shall be entitled
to revoke any consent previously given, whether or not such persons continue to
be Holders after such record date.

 

Section 9.5                            Notation On or Exchange of Securities.

 

Securities
of any series authenticated and delivered after the execution of any
supplemental indenture with respect to such series pursuant to this Article IX
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 shall so determine, new Securities of such series so modified as to
conform, in the opinion of the Trustee and the Board of Directors, to any such
supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Trustee in exchange for outstanding
Securities of that series.

 

Section 9.6                            Trustee to Sign Supplemental Indentures.

 

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

 

31

 

Section 9.7                                                                                   Effect
of Supplemental Indentures.

 

Upon the execution of any
supplemental indenture under this Article IX, 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 shall be bound thereby, except
to the extent otherwise set forth thereon.

 

ARTICLE X

SINKING FUNDS

 

Section 10.1                                                                            Applicability
of Article.

 

The provisions of this Article X
shall be applicable to any sinking fund for the retirement of Securities of a
series, except as otherwise specified as contemplated by Section 2.3(a) for
Securities of such series.

 

The minimum amount of any
sinking fund payment provided for by the terms of Securities of any series is
herein referred to as a “Mandatory Sinking Fund Payment,” and any payment in
excess of such minimum amount provided for by the terms of Securities of any
series is herein referred to as an “Optional Sinking Fund Payment.” If provided
for by the terms of Securities of any series, the cash amount of any sinking
fund payment may be subject to reduction as provided in Section 10.2. Each
sinking fund payment shall be applied to the redemption of Securities of any
series as provided for by the terms of the Securities of such series.

 

Section 10.2                                                                            Satisfaction
of Sinking Fund Payments with Securities.

 

The Company (1) may
deliver Outstanding Securities of a series with the same issue date, interest
rate and Stated Maturity (other than any previously called for redemption) and (2) may
apply as a credit Securities of a series with the same issue date, interest
rate and Stated Maturity 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, in each case in satisfaction of all or any part of any mandatory
sinking fund payment with respect to the Securities of such series with the
same issue date, interest rate and Stated Maturity; provided, that such
Securities have not been previously so credited. Such Securities shall be
received and credited for such purpose by the Trustee at the Redemption Price
specified in such Securities for redemption through operation of the sinking
fund and the amount of such sinking fund payment shall be reduced accordingly.

 

Section 10.3                                                                            Redemption
of Securities for Sinking Fund.

 

Not less than 60 days (or
such shorter period as shall be acceptable to the Trustee) prior to each
sinking fund payment date for any series of Securities, the Company will
deliver to the Trustee an Officers’ Certificate specifying the amount of the
next ensuing sinking fund payment for that series pursuant to the terms of that
series, the portion thereof, if any, which is to be satisfied by payment of
cash and the portion thereof, if any, which is to be satisfied by delivering
and crediting Securities of that series pursuant to

 

Section 10.2 and
will also deliver to the Trustee any Securities to be so delivered. Not less
than 30 days before each such sinking fund payment date the Trustee shall
select the Securities to be redeemed upon such sinking fund payment date in the
manner specified in Section 3.2 and cause notice of the redemption thereof
to be given in the name of and at the expense of the Company in the manner
provided in Section 3.3. Such notice having been duly given, the
redemption of such Securities shall be made upon the terms and in the manner
stated in Sections 3.4 and 3.6.

 

32

 

ARTICLE XI

GUARANTEES

 

Section 11.1                                                                            Applicability
of Article.

 

The provisions of this Article XI
will be applicable to any series of Securities which is to be guaranteed by one
or more Guarantors.

 

Section 11.2                                                                            Guarantee.

 

Subject to this Article XI,
each of the Guarantors hereby, jointly and severally, unconditionally
guarantees to each Holder of Securities of a series as to which it is a
Guarantor authenticated and delivered by the Trustee and to the Trustee and its
successors and assigns on behalf of each such Holder, irrespective of the
validity and enforceability of this Indenture, the Securities or the
obligations of the Company hereunder or thereunder, that: (a) the Principal
of and interest on the Securities of such series will be promptly paid by the
Company in full when due, whether at maturity, by acceleration, redemption or
otherwise, and interest on the overdue Principal of and interest on the
Securities of such series, if any, if lawful will be promptly paid by the
Company in full, all in accordance with the terms hereof and thereof; and (b) in
case of any extension of time of payment or renewal of any Securities of such
series, that same will be promptly paid by the Company in full when due by the
Company in accordance with the terms of the extension or renewal, whether at
stated maturity, by acceleration or otherwise. Failing payment when due by the
Company of any amount so guaranteed which failure continues for three days
after demand therefor is made to the Company for whatever reason, the
Guarantors shall be jointly and severally obligated to pay the same
immediately. Each Guarantor agrees that this is a guarantee of payment and not
a guarantee of collection.

 

The Guarantors hereby,
jointly and severally, agree that their obligations hereunder shall be
unconditional, irrespective of the validity, regularity or enforceability of
the Securities of the series or this Indenture, the absence of any action to
enforce the same, any waiver or consent by any Holder of the Securities of such
series with respect to any provisions hereof or thereof, the recovery of any
judgment against the Company, any action to enforce the same or any other
circumstance which might otherwise constitute a legal or equitable discharge or
defense of a Guarantor. Each Guarantor hereby waives diligence, presentment,
demand of payment (except as specifically provided in the preceding paragraph),
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, protest,
notice and all demands (except as specifically provided in the preceding
paragraph) whatsoever and covenant that this Security Guarantee shall not be discharged
except by complete performance of the payment obligations contained in the
Securities of the series and this Indenture.

 

If any Holder or the
Trustee is required by any court or otherwise to return to the Company, the
Guarantors or any custodian, trustee, liquidator or other similar official
acting in relation to either the Company or the Guarantors, any amount paid by
either to the Trustee or such Holder, this Security Guarantee, to the extent
theretofore discharged, shall be reinstated in full force and effect.

 

Each Guarantor agrees
that it shall not be entitled to any right of subrogation in relation to the
Holders in respect of any obligations guaranteed hereby until payment in full
of all obligations guaranteed hereby. Each Guarantor further agrees that, as
between the Guarantors, on the one hand, and the Holders and the Trustee, on
the other hand, (x) the maturity of the obligations guaranteed hereby may
be accelerated as provided in Article VI hereof for the purposes of this
Security Guarantee, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the obligations guaranteed hereby,
and (y) in the event of any declaration of acceleration of such
obligations as provided in Article VI hereof, such obligations (whether or
not due and payable) shall forthwith become due and payable by the Guarantors
for the purpose of this Security Guarantee, failing payment when due by the
Company, which failure continues for three days after demand therefor is made to
the Company. The Guarantors shall have the right to seek contribution from any
non-paying Guarantor so long as the exercise of such right does not impair the
rights of the Holders under the Guarantee.

 

33

 

Section 11.3                                                                            Limitation
on Guarantor Liability.

 

Each Guarantor, and by
its acceptance of Securities of a series as to which such Guarantor is a
Guarantor, each Holder, hereby confirms that it is the intention of all such
parties that the Security Guarantee of such Guarantor not constitute a
fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform
Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar
Federal or state law to the extent applicable to any Security Guarantee. To
effectuate the foregoing intention, the Trustee, the Holders and the Guarantors
hereby irrevocably agree that the obligations of such Guarantor under its
Security Guarantee and this Article XI shall be limited to the maximum
amount as will, after giving effect to such maximum amount and all other
contingent and fixed liabilities of such Guarantor that are relevant under such
laws, and after giving effect to any collections from, rights to receive
contribution from or payments made by or on behalf of any other Guarantor in
respect of the obligations of such other Guarantor under this Article XI,
result in the obligations of such Guarantor under its Security Guarantee not
constituting a fraudulent transfer or conveyance.

 

Section 11.4                                                                            Release
of Guarantors.

 

The Security Guarantee of
a Guarantor with respect to any series of Securities will be released under the
circumstances specified for such series of Securities pursuant to Section 2.3(a).

 

ARTICLE XII

MISCELLANEOUS

 

Section 12.1                                                                            Trust
Indenture Act Controls.

 

If any provision of this
Indenture limits, qualifies or conflicts with the duties imposed by TIA, the
required provision shall control.

 

Section 12.2                                                                            Notices.

 

Any notice or
communication by the Company, any Guarantor or the Trustee to the others is
duly given if in writing and delivered in person or mailed by first class mail
(registered or certified, return receipt requested), or sent by telecopier or
overnight courier guaranteeing next day delivery, to the other’s address.

 

	
  If to the Company
  and/or

  any Guarantor:

  	
   

  	
  

  Tennessee Commerce Bancorp, Inc.

  
	
   

  	
   

  	
  381 Mallory Station
  Road, Suite 207

  
	
   

  	
   

  	
  Franklin, Tennessee
  37067

  
	
   

  	
   

  	
  Telecopier No.: (615)
  599-2275

  
	
   

  	
   

  	
  Attention: Corporate
  Secretary

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Waller Lansden
  Dortch & Davis, LLP

  
	
   

  	
   

  	
  511 Union Street,
  Suite 2700

  
	
   

  	
   

  	
  Nashville, Tennessee
  37219

  
	
   

  	
   

  	
  Telecopier No.: (615)
  244-6804

  
	
   

  	
   

  	
  Attention: E. Marlee
  Mitchell

  
	
   

  	
   

  	
   

  
	
  If to the Trustee:

  	
   

  	
  [                                          ]

  
	
   

  	
   

  	
  [                                          ]

  
	
   

  	
   

  	
  [                                          ]

  
	
   

  	
   

  	
  Telecopier No.:
  [                        ]

  
	
   

  	
   

  	
  Attention:
  [                        ]

  

 

The Company, any
Guarantor or the Trustee, by notice to the others may designate additional or
different addresses for subsequent notices or communications.

 

34

 

All notices and
communications (other than those sent to Holders of Securities) shall be deemed
to have been duly given: at the time delivered by hand, if personally
delivered; five Business Days after being deposited in the mail, postage
prepaid, if mailed; when receipt acknowledged, if telecopied; and the next
Business Day after timely delivery to the courier, if sent by overnight air
courier guaranteeing next day delivery.

 

Any notice or
communication to a Holder of Securities shall be mailed by first class mail, or
by overnight air courier guaranteeing next day delivery to its address shown on
the register kept by the Registrar. Any notice or communication shall also be
so mailed to any Person described in TIA §313(c), to the extent required by the
TIA. Failure to mail a notice or communication to a Holder of Securities or any
defect in it shall not affect its sufficiency with respect to other Holders of
Securities.

 

If a notice or
communication is mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it.

 

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

 

Section 12.3                                                                            Communication
by Holders of Securities with Other Holders of Securities.

 

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

 

Section 12.4                                                                            Certificate
and Opinion as to Conditions Precedent.

 

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

 

(1)           an Officers’
Certificate in form and substance reasonably satisfactory to the Trustee (which
shall include the statements set forth in Section 12.5) stating that, in
the opinion of the signers, all conditions precedent and covenants, if any,
provided for in this Indenture relating to the proposed action have been
satisfied; and

 

(2)           an Opinion of Counsel
in form and substance reasonably satisfactory to the Trustee (which shall
include the statements set forth in Section 12.5) stating that, in the
opinion of such counsel, all such conditions precedent and covenants have been
satisfied.

 

Section 12.5                                                                            Statements
Required in Certificate or Opinion.

 

Each certificate or
opinion with respect to compliance with a condition or covenant provided for in
this Indenture (other than a certificate provided pursuant to TIA §314(a)(4))
shall comply with the provisions of TIA §314(e) and shall include:

 

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

 

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

 

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

 

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

 

35

 

Section 12.6                                                                            Rules by
Trustee and Agents.

 

The Trustee may make
reasonable rules for action by or at a meeting of Holders.

 

The Registrar or Paying
Agent may make reasonable rules and set reasonable requirements for its
functions.

 

Section 12.7                                                                            No
Personal Liability of Directors, Officers, Employees and Stockholders.

 

No director, officer, employee,
incorporator or stockholder of the Company or any Guarantor, as such, shall
have any liability for any obligations of the Company or such Guarantor under
the Securities, this Indenture, the Security Guarantees or for any claim based
on, in respect of, or by reason of, such obligations or their creation. Each
Holder of Securities, by accepting a Security, waives and releases all such
liability. The waiver and release are part of the consideration for issuance of
the Securities.

 

Section 12.8                                                                            Governing
Law.

 

THE
INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS
INDENTURE AND THE SECURITIES.

 

Section 12.9                                                                            No
Adverse Interpretation of Other Agreements.

 

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

 

Section 12.10                                                                     Successors.

 

All agreements of the
Company in this Indenture and the Securities shall bind its successors. All
agreements of the Trustee in this Indenture shall bind its successors.

 

Section 12.11                                                                     Severability.

 

In case any provision in
this Indenture or in the Securities 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 12.12                                                                     Counterpart
Originals; Acceptance by Trustee.

 

The parties may sign any
number of copies of this Indenture. Each signed copy shall be an original, but
all of them together represent the same agreement. The Trustee hereby accepts
the trusts in this Indenture declared or provided, upon the terms and
conditions hereinabove set forth.

 

Section 12.13                                                                     Table
of Contents, Headings, etc.

 

The Table of Contents,
Cross-Reference Table and Headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be
considered a part of this Indenture and shall in no way modify or restrict any
of the terms or provisions hereof.

 

Section 12.14                                                                     Legal
Holidays.

 

A “Legal Holiday” is any
day other than a Business Day. If any specified date (including an Interest
Payment Date, Redemption Date or Stated Maturity of any Security, or a date for
giving notice) is a Legal Holiday at any Place of Payment or place for giving
notice, then (notwithstanding any other provision of this Indenture or of the
Securities or coupons other than a provision in the Securities of any series
which specifically states that such provision shall apply in lieu of this
Section) payment of Principal or interest need not be made at such Place of

 

36

 

Payment,
or such other action need not be taken, on such date, but the action shall be
taken on the next succeeding day that is not a Legal Holiday at such Place of
Payment with the same force and effect as if made on the Interest Payment Date
or Redemption Date, or at the Stated Maturity or such other date and to the
extent applicable no original issue discount or interest, if any, shall accrue
for the intervening period.

 

[Signatures on following page]

 

37

 

SIGNATURES

 

	
  Dated as of
  [                        ]

  	
   

  
	
   

  	
   

  
	
   

  	
  TENNESSEE COMMERCE
  BANCORP, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
  [                                  ],
  as Trustee

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

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