Document:

EXHIBIT 4.4

	
   

  
	
   

  

 

 

STANLEY, INC.

ISSUER

 

AND

 

[BANK]

TRUSTEE

 

 

INDENTURE

 

DATED AS OF [·]

 

 

SENIOR DEBT SECURITIES

 

 

	
   

  

 

 

CROSS-REFERENCE TABLE(1)

 

	
  Section of
  Trust Indenture Act of 1939, as Amended

  	
   

  	
  Indenture

  
	
  310(a)

  	
   

  	
  7.10

  
	
  310(b)

  	
   

  	
  7.09; 7.11

  
	
  310(c)

  	
   

  	
  Inapplicable

  
	
  311(a)

  	
   

  	
  7.14

  
	
  311(b)

  	
   

  	
  7.14

  
	
  311(c)

  	
   

  	
  Inapplicable

  
	
  312(a)

  	
   

  	
  5.02(a)

  
	
  312(b)

  	
   

  	
  5.02(c)

  
	
  312(c)

  	
   

  	
  Inapplicable

  
	
  313(a)

  	
   

  	
  5.04(a)

  
	
  313(b)

  	
   

  	
  5.04(b)

  
	
  313(c)

  	
   

  	
  5.04(a); 5.04(b)

  
	
  313(d)

  	
   

  	
  5.04(c)

  
	
  314(a)

  	
   

  	
  5.03; 4.06

  
	
  314(b)

  	
   

  	
  Inapplicable

  
	
  314(c)

  	
   

  	
  13.07

  
	
  314(d)

  	
   

  	
  Inapplicable

  
	
  314(e)

  	
   

  	
  13.07

  
	
  314(f)

  	
   

  	
  Inapplicable

  
	
  315(a)

  	
   

  	
  7.01(a); 7.03

  
	
  315(b)

  	
   

  	
  7.02

  
	
  315(c)

  	
   

  	
  7.01

  
	
  315(d)

  	
   

  	
  7.01(b)

  
	
  315(e)

  	
   

  	
  6.07; 7.07

  
	
  316(a)

  	
   

  	
  6.06; 8.04

  
	
  316(b)

  	
   

  	
  6.04

  
	
  316(c)

  	
   

  	
  8.01

  
	
  317(a)

  	
   

  	
  6.02

  
	
  317(b)

  	
   

  	
  4.03

  
	
  318(a)

  	
   

  	
  13.09

  

 

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

 

i

 

TABLE OF CONTENTS(2)

 

	
   

  	
  Page

  
	
   

  	
   

  
	
  RECITALS OF THE COMPANY

  	
  2

  
	
  ARTICLE I
  DEFINITIONS

  	
  2

  
	
  SECTION 1.01
  DEFINITIONS OF TERMS

  	
  2

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

  	
  6

  
	
  SECTION 2.01
  DESIGNATION AND TERMS OF SECURITIES

  	
  6

  
	
  SECTION 2.02
  FORM OF SECURITIES AND TRUSTEE’S CERTIFICATE

  	
  7

  
	
  SECTION 2.03
  DENOMINATIONS: PROVISIONS FOR PAYMENT

  	
  7

  
	
  SECTION 2.04
  EXECUTION AND AUTHENTICATION

  	
  9

  
	
  SECTION 2.06
  TEMPORARY SECURITIES

  	
  10

  
	
  SECTION 2.07
  MUTILATED, DESTROYED, LOST OR STOLEN SECURITIES

  	
  10

  
	
  SECTION 2.08
  CANCELLATION

  	
  11

  
	
  SECTION 2.09
  BENEFITS OF INDENTURE

  	
  11

  
	
  SECTION 2.10
  AUTHENTICATING AGENT

  	
  11

  
	
  SECTION 2.11
  GLOBAL SECURITIES

  	
  12

  
	
  ARTICLE III
  REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

  	
  13

  
	
  SECTION 3.01
  REDEMPTION

  	
  13

  
	
  SECTION 3.02
  NOTICE OF REDEMPTION

  	
  13

  
	
  SECTION 3.03
  PAYMENT UPON REDEMPTION

  	
  14

  
	
  SECTION 3.04
  SINKING FUND

  	
  15

  
	
  SECTION 3.05
  SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES

  	
  15

  
	
  SECTION 3.06
  REDEMPTION OF SECURITIES FOR SINKING FUND

  	
  15

  
	
  ARTICLE IV
  COVENANTS

  	
  15

  
	
  SECTION 4.01
  PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST

  	
  15

  
	
  SECTION 4.02
  MAINTENANCE OF OFFICE OR AGENCY

  	
  16

  
	
  SECTION 4.03
  PAYING AGENTS

  	
  16

  
	
  SECTION 4.04
  APPOINTMENT TO FILL VACANCY IN OFFICE OF TRUSTEE

  	
  17

  
	
  SECTION 4.05
  COMPLIANCE WITH CONSOLIDATION PROVISIONS

  	
  17

  
	
  SECTION 4.06
  STATEMENT BY OFFICERS AS TO DEFAULT

  	
  17

  
	
  ARTICLE V
  SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE

  	
  17

  
	
  SECTION 5.01
  COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF SECURITYHOLDERS

  	
  17

  
	
  SECTION 5.02
  PRESERVATION OF INFORMATION; COMMUNICATIONS WITH SECURITYHOLDERS

  	
  18

  
	
  SECTION 5.03
  REPORTS BY THE COMPANY

  	
  18

  
	
  SECTION 5.04
  REPORTS BY THE TRUSTEE

  	
  19

  
	
  ARTICLE VI
  REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT

  	
  19

  
	
  SECTION 6.01
  EVENTS OF DEFAULT

  	
  19

  
	
  SECTION 6.02
  COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE

  	
  20

  
	
  SECTION 6.03
  APPLICATION OF MONEYS COLLECTED

  	
  22

  
	
  SECTION 6.04
  LIMITATION ON SUITS

  	
  22

  
	
  SECTION 6.05
  RIGHTS AND REMEDIES CUMULATIVE; DELAY OR OMISSION NOT WAIVER

  	
  23

  
	
  SECTION 6.06
  CONTROL BY SECURITYHOLDERS

  	
  23

  
	
  SECTION 6.07
  UNDERTAKING TO PAY COSTS

  	
  23

  

 

(2) Note:  This Table of Contents shall not, for any
purpose, be deemed to be part of the Indenture.

 

ii

 

	
  ARTICLE VII
  CONCERNING THE TRUSTEE

  	
  24

  
	
  SECTION 7.01
  CERTAIN DUTIES AND RESPONSIBILITIES OF TRUSTEE

  	
  24

  
	
  SECTION 7.02
  NOTICE OF DEFAULTS

  	
  25

  
	
  SECTION 7.03
  CERTAIN RIGHTS OF TRUSTEE

  	
  25

  
	
  SECTION 7.04
  TRUSTEE NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OR SECURITIES

  	
  26

  
	
  SECTION 7.05
  MAY HOLD SECURITIES

  	
  27

  
	
  SECTION 7.06
  MONEYS HELD IN TRUST

  	
  27

  
	
  SECTION 7.07
  COMPENSATION AND REIMBURSEMENT

  	
  27

  
	
  SECTION 7.08
  RELIANCE ON OFFICERS’ CERTIFICATE

  	
  28

  
	
  SECTION 7.09
  DISQUALIFICATION; CONFLICTING INTERESTS

  	
  28

  
	
  SECTION 7.10
  CORPORATE TRUSTEE REQUIRED; ELIGIBILITY

  	
  28

  
	
  SECTION 7.11
  RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR

  	
  28

  
	
  SECTION 7.12
  ACCEPTANCE OF APPOINTMENT BY SUCCESSOR

  	
  29

  
	
  SECTION 7.13
  MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS

  	
  30

  
	
  SECTION 7.14
  PREFERENTIAL COLLECTION OF CLAIMS AGAINST THE COMPANY

  	
  31

  
	
  ARTICLE VIII
  CONCERNING THE SECURITYHOLDERS

  	
  31

  
	
  SECTION 8.01
  EVIDENCE OF ACTION BY SECURITYHOLDERS

  	
  31

  
	
  SECTION 8.02
  PROOF OF EXECUTION BY SECURITYHOLDERS

  	
  31

  
	
  SECTION 8.03
  WHO MAY BE DEEMED OWNERS

  	
  31

  
	
  SECTION 8.04
  CERTAIN SECURITIES OWNED BY COMPANY DISREGARDED

  	
  32

  
	
  SECTION 8.05
  ACTIONS BINDING ON FUTURE SECURITYHOLDERS

  	
  32

  
	
  ARTICLE IX
  SUPPLEMENTAL INDENTURES

  	
  32

  
	
  SECTION 9.01
  SUPPLEMENTAL INDENTURES WITHOUT THE CONSENT OF SECURITYHOLDERS

  	
  32

  
	
  SECTION 9.02
  SUPPLEMENTAL INDENTURES WITH CONSENT OF SECURITYHOLDERS

  	
  33

  
	
  SECTION 9.03
  EFFECT OF SUPPLEMENTAL INDENTURES

  	
  34

  
	
  SECTION 9.04
  SECURITIES AFFECTED BY SUPPLEMENTAL INDENTURES

  	
  34

  
	
  SECTION 9.05
  EXECUTION OF SUPPLEMENTAL INDENTURES

  	
  34

  
	
  ARTICLE X
  SUCCESSOR ENTITY

  	
  35

  
	
  SECTION 10.01
  COMPANY MAY CONSOLIDATE, ETC.

  	
  35

  
	
  SECTION 10.02
  SUCCESSOR ENTITY SUBSTITUTED

  	
  35

  
	
  SECTION 10.03
  EVIDENCE OF CONSOLIDATION, ETC. TO TRUSTEE

  	
  36

  
	
  ARTICLE XI
  SATISFACTION AND DISCHARGE; DEFEASANCE

  	
  36

  
	
  SECTION 11.01
  SATISFACTION AND DISCHARGE

  	
  36

  
	
  SECTION 11.02
  DEFEASANCE

  	
  36

  
	
  SECTION 11.03
  DEPOSITED MONEYS TO BE HELD IN TRUST

  	
  37

  
	
  SECTION 11.04
  PAYMENT OF MONEYS HELD BY PAYING AGENTS

  	
  38

  
	
  SECTION 11.05
  REPAYMENT TO COMPANY

  	
  38

  
	
  ARTICLE XII
  IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

  	
  38

  
	
  SECTION 12.01
  NO RECOURSE

  	
  38

  
	
  ARTICLE XIII
  MISCELLANEOUS PROVISIONS

  	
  38

  
	
  SECTION 13.01
  EFFECT ON SUCCESSORS AND ASSIGNS

  	
  38

  
	
  SECTION 13.02
  ACTIONS BY SUCCESSOR

  	
  39

  
	
  SECTION 13.03
  SURRENDER OF COMPANY POWERS

  	
  39

  
	
  SECTION 13.04
  NOTICES

  	
  39

  
	
  SECTION 13.05
  GOVERNING LAW; WAIVER OF TRIAL BY JURY

  	
  39

  
	
  SECTION 13.06
  TREATMENT OF SECURITIES AS DEBT

  	
  39

  
	
  SECTION 13.07
  COMPLIANCE CERTIFICATES AND OPINIONS

  	
  39

  
	
  SECTION 13.08
  PAYMENTS ON BUSINESS DAYS

  	
  40

  
	
  SECTION 13.09
  CONFLICT WITH TRUST INDENTURE ACT

  	
  40

  
	
  SECTION 13.10
  COUNTERPARTS

  	
  40

  

 

iii

 

	
  SECTION 13.11
  SEPARABILITY

  	
  40

  
	
  SECTION 13.12 ASSIGNMENT

  	
  40

  

 

iv

 

INDENTURE,
dated as of [ ·], between Stanley, Inc., a Delaware
corporation (the “Company”), and [Bank], a [·] banking corporation, as trustee (the “Trustee”):

 

RECITALS OF THE COMPANY

 

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

 

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

 

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

 

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

 

ARTICLE I

DEFINITIONS

 

SECTION 1.01 DEFINITIONS OF TERMS.

 

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

 

“ARTICLE”,
“SECTION” or other subdivisions refer to Articles, Sections or other
subdivisions of this Indenture.

 

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

 

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

 

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

 

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

 

2

 

“BUSINESS
DAY” means, with respect to any series of Securities, any day other than a
Saturday or Sunday, or a day on which federal or state banking institutions in
the Borough of Manhattan, The City of New York, are authorized or obligated by
law, executive order or regulation to close.

 

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

 

“COMMISSION”
means the Securities and Exchange Commission.

 

“COMPANY”
means Stanley, Inc., a corporation duly organized and existing under the
laws of the State of Delaware, and, subject to the provisions of Article X,
shall also include its successors and assigns.

 

“CORPORATE
TRUST OFFICE” means the office of the Trustee at which, at any particular time,
its corporate trust business shall be principally administered, which office at
the date hereof is located at [·].

 

“COVENANT
DEFEASANCE” has the meaning given in Section 11.02.

 

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

 

“DEFAULT”
means any event, act or condition that with notice or lapse of time, or both,
would constitute an Event of Default.

 

“DEFAULTED
INTEREST” has the meaning given in Section 2.03.

 

“DEPOSITARY”
means, with respect to Securities of any series, for which the Company shall
determine that such Securities will be issued as a Global Security, The Depository
Trust Company, New York, New York, another clearing agency, or any successor
registered as a clearing agency under the Securities and Exchange Act of 1934,
as amended (the “Exchange Act”), or other applicable statute or regulation,
which, in each case, shall be designated by the Company pursuant to either Section 2.01
or 2.11.

 

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

 

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

 

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

 

“GOVERNMENTAL
OBLIGATIONS” means securities that are (i) direct obligations of the United
States of America for the payment of which its full faith and credit is pledged
or (ii) obligations of a Person controlled or supervised by and acting as
an agency or instrumentality of the United States of America, the payment of
which is unconditionally guaranteed as a full faith and credit obligation by
the United States of America that, in either case, are not callable or
redeemable at the option of the issuer thereof, and shall also include a
depositary receipt issued by a bank (as defined in Section 3(a)(2) of
the Securities Act) as custodian with respect to any such Governmental
Obligation or a specific payment of principal of or interest on any such
Governmental Obligation held by such custodian for the account of the Holder of
such depositary receipt; provided, however, that (except as required by law)
such custodian is not authorized to make any deduction from the amount payable
to the Holder of such depositary receipt from

 

3

 

any amount received by
the custodian in respect of the Governmental Obligation or the specific payment
of principal of or interest on the Governmental Obligation evidenced by such
depositary receipt.

 

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

 

“INCLUDING”,
unless the context requires otherwise, means including without limitation.

 

“INDENTURE”
means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into in accordance with the terms hereof, including, for all purposes of this
instrument and any such supplemental indenture, the provisions of the Trust Indenture
Act that are deemed to be a part of and govern this instrument and any such
supplemental indenture, respectively. The term “Indenture” shall also include
the terms of particular series of Securities established as contemplated by Section 2.01.

 

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

 

“LEGAL
DEFEASANCE” has the meaning given in Section 11.02.

 

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

 

“OPINION
OF COUNSEL” means an opinion in writing of legal counsel acceptable to the
Trustee, who may be an employee of or counsel for the Company that is delivered
to the Trustee in accordance with the terms hereof. Each such opinion shall
include the statements provided for in Section 13.07, if and to the extent
required by the provisions thereof.

 

“ORIGINAL
ISSUE 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 6.01.

 

“OUTSTANDING”,
when used with reference to Securities of any series, means, subject to the
provisions of Section 8.04, as of any particular time, all Securities of
that series theretofore authenticated and delivered by the Trustee under this
Indenture, except (a) Securities theretofore canceled by the Trustee or
any paying agent, or delivered to the Trustee or any paying agent for
cancellation or that have previously been canceled; (b) Securities or
portions thereof for the payment or redemption of which moneys or Governmental
Obligations in the necessary amount shall have been deposited in trust with the
Trustee or with any paying agent (other than the Company) or shall have been
set aside and segregated in trust by the Company (if the Company shall act as
its own paying agent); provided, however, that if such Securities or portions of
such Securities are to be redeemed prior to the maturity thereof, notice of
such redemption shall have been given as in Article III; or provision
satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities
in lieu of or in substitution for which other Securities shall have been
authenticated and delivered pursuant to the terms of Section 2.07;
provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given, made or taken any
request, demand, authorization, direction, notice, consent, waiver or other
action hereunder as of any date, the principal amount of an Original Issue
Discount Security which shall be deemed to be Outstanding shall be the amount
of the principal thereof which would be due and payable as of such date upon
acceleration of the maturity thereof to such date pursuant to Section 6.01.

 

4

 

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

 

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

 

“RESPONSIBLE
OFFICER” or “responsible officer” when used with respect to the Trustee
means  any officer assigned to the
Corporate Trust Division — Corporate Finance Unit (or any successor division or
unit) of the Trustee located at the Corporate Trust Office of the Trustee, who
shall have direct responsibility for the administration of this Indenture, and
for the purposes of Section 7.01(b)(ii) and Section 315(b) of
the Trust Indenture Act shall also include any other officer of the Trustee to
whom any corporate trust matter is referred because of his or her knowledge of
and familiarity with the particular subject.

 

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

 

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

 

“SECURITYHOLDER”,
“HOLDER of SECURITIES”, “REGISTERED HOLDER”, “HOLDER”, or other similar term,
means the Person or Persons in whose name or names a particular Security shall
be registered on the books of the Company kept for that purpose in accordance
with the terms of this Indenture.

 

“SECURITY
REGISTER” has the meaning given in Section 2.05.

 

“SECURITY
REGISTRAR” has the meaning given in Section 2.05.

 

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

 

“TRUSTEE”
means [Bank] and, subject to the provisions of Article VII, shall also
include its successors and assigns, and, if at any time there is more than one
Person acting in such capacity hereunder, “Trustee” shall mean each such
Person. The term “Trustee” as used with respect to a particular series of the
Securities shall mean the trustee with respect to that series.

 

“TRUST
INDENTURE ACT” means the Trust Indenture Act of 1939, as amended, subject to
the provisions of Sections 9.01, 9.02, and 10.01, as in effect at the date
of execution of this instrument.

 

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

 

5

 

ARTICLE II

ISSUE, DESCRIPTION, TERMS, EXECUTION,

REGISTRATION AND EXCHANGE OF SECURITIES

 

SECTION 2.01 DESIGNATION AND TERMS OF SECURITIES.

 

The
aggregate principal amount of Securities that may be authenticated and
delivered under this Indenture is unlimited. The Securities may be issued in
one or more series up to the aggregate principal amount, if any, of Securities
of that series from time to time authorized by or pursuant to a Board
Resolution or pursuant to one or more indentures supplemental hereto. Prior to
the initial issuance of Securities of any series, there shall be established in
or pursuant to a Board Resolution, and set forth in an Officers’ Certificate,
or established in one or more indentures supplemental hereto:

 

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

 

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

 

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

 

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

 

(5) the
date or dates from which such interest shall accrue, the Interest Payment Dates
on which such interest will be payable or the manner of determination of such
Interest Payment Dates, the place(s) of payment, and the record date or
other method for the determination of Holders to whom interest is payable on
any such Interest Payment Dates;

 

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

 

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

 

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

 

(9) the
form of the Securities of the series, including the form of the Trustee’s
certificate of authentication for such series;

 

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

 

(11) any
and all other terms with respect to such series (which terms shall not be
inconsistent with the terms of this Indenture;

 

(12) whether
the Securities of the series are issuable as a Global Security and, in such
case, the identity of the Depositary for such series and any other or different
terms in respect of such Global Security;

 

6

 

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

 

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

 

(15) any
additional or different Events of Default or restrictive covenants provided for
with respect to the Securities of the series;

 

(16) if
applicable, that the Securities of the series, in whole or in specified part,
shall be defeasible pursuant to Section 11.02 and, if other than by a
Board Resolution, the manner in which any election by the Company to defease
such Securities shall be evidenced;

 

(17)
the terms, if any, of the transfer, mortgage, pledge or assignment as security
for the Securities of such series of any properties, assets, moneys, proceeds,
securities or other collateral, including whether certain provisions of the
Trust Indenture Act are applicable and any corresponding changes to provisions
of the applicable indenture as then in effect and including provisions
addressing priority, perfection and escrow arrangements related to the security
interest; and

 

(18) if
other than the currency of the United States of America, the currency,
currencies or currency units in which the principal of or any premium or
interest on any Securities of the series shall be payable and the manner of
determining the equivalent thereof in the currency of the United States of
America for any purpose, including for purposes of the definition of “Outstanding”
in Section 1.01. All Securities of any one series shall be substantially
identical except as to denomination and except as may otherwise be provided in
or pursuant to any such Board Resolution or in any indentures supplemental
hereto. If any of the terms of the series are established by action taken
pursuant to a Board Resolution, a copy of an appropriate record of such action
shall be certified by the Secretary or an Assistant Secretary of the Company
and delivered to the Trustee at or prior to the delivery of the Officers’
Certificate setting forth the terms of the series. Securities of any particular
series may be issued at various times, with different dates on which the
principal or any installment of principal is payable, with different rates of
interest, if any, or different methods by which rates of interest may be
determined, with different dates on which such interest may be payable and with
different redemption dates. Notwithstanding Section 2.01(2) and
unless otherwise expressly provided with respect to a series of Securities, the
aggregate principal amount of a series of Securities may be increased and
additional Securities of such series may be issued up to the maximum aggregate
principal amount authorized with respect to such series as increased.

 

SECTION 2.02 FORM OF SECURITIES AND TRUSTEE’S
CERTIFICATE.

 

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

 

SECTION 2.03 DENOMINATIONS: PROVISIONS FOR PAYMENT.

 

The
Securities shall be issuable as registered Securities and in the denominations
of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject
to Section 2.01(10). The Securities of a particular series shall bear
interest payable on the dates and at the rates specified or provided for with

 

7

 

respect to that series.
Except as contemplated by Section 2.01(17), the principal of and the
interest on the Securities of any series, as well as any premium thereon in
case of redemption thereof prior to maturity, shall be payable in the coin or
currency of the United States of America that at the time is legal tender for
public and private debt, at the office or agency of the Company maintained for
that purpose in the Borough of Manhattan, the City and State of New York;
provided, however, that at the option of the Company payment of interest may be
made by check mailed to the address of the Person entitled thereto as such
address shall appear in the Security Register. Each Security shall be dated the
date of its authentication by the Trustee. Except as contemplated by Section 2.01(4),
interest on the Securities shall be computed on the basis of a 360-day year
composed of twelve 30-day months. Except as contemplated by Section 2.01(5),
the interest installment on any Security that is payable, and is punctually
paid or duly provided for, on any Interest Payment Date for Securities of that
series shall be paid to the Person in whose name said Security (or one or more
Predecessor Securities) is registered at the close of business on the regular
record date for such interest installment. In the event that any Security of a
particular series or portion thereof is called for redemption and the redemption
date is subsequent to a regular record date with respect to any Interest
Payment Date and prior to such Interest Payment Date, interest on such Security
will be paid upon presentation and surrender of such Security as provided in Section 3.03.
Any interest on any Security that is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date for Securities of the same
series (herein called “Defaulted Interest”) shall forthwith cease to be payable
to the registered Holder on the relevant regular record date by virtue of
having been such Holder; and such Defaulted Interest shall be paid by the
Company, at its election, as provided in clause (1) or clause (2) below:

 

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

 

(2) The
Company may make payment of any Defaulted Interest on any Securities in any
other lawful manner not inconsistent with the requirements of any securities
exchange on which such Securities may be listed, and upon such notice as may be
required by such exchange, if, after notice given by the Company to the Trustee
of the proposed payment pursuant to this clause, such manner of payment shall
be deemed practicable by the Trustee. Unless otherwise set forth in a Board
Resolution or one or more indentures supplemental hereto establishing the terms
of any series of Securities pursuant to Section 2.01 hereof, the term “regular
record date” as used in this Section with respect to a series of
Securities with respect to any Interest Payment Date for such series shall mean
either the fifteenth day of the month immediately preceding the month in which
an Interest Payment Date established for such series pursuant to Section 2.01
hereof shall occur, if such Interest Payment Date is the first day of a month,
or the last day of the month immediately preceding the month in which an
Interest Payment Date established for such series pursuant to Section 2.01
hereof shall occur, if such Interest Payment Date is the fifteenth day of a
month, whether or not such date is a Business Day. Subject to the foregoing
provisions of this Section, each Security of a series delivered under this
Indenture upon transfer of or in exchange for or in lieu of any other

 

8

 

Security of such series
shall carry the rights to interest accrued and unpaid, and to accrue, that were
carried by such other Security.

 

SECTION 2.04 EXECUTION AND AUTHENTICATION.

 

The Securities shall be signed on behalf of the
Company by its President, or one of its Vice Presidents, or its Treasurer, or
one of its Assistant Treasurers, attested by its Secretary or one of its
Assistant Secretaries. Signatures may be in the form of a manual or facsimile
signature. The Company may use the facsimile signature of any Person who shall
have been a President or Vice President thereof, or of any Person who shall
have been the Treasurer, an Assistant Treasurer, the Secretary or an Assistant
Secretary thereof, notwithstanding the fact that at the time the Securities
shall be authenticated and delivered or disposed of such Person shall have
ceased to be the President or a Vice President, or the Treasurer, an Assistant
Treasurer, the Secretary or an Assistant Secretary, of the Company. The
Securities may contain such notations, legends or endorsements required by law,
stock exchange rule or usage. A Security shall not be valid until
authenticated manually by an authorized signatory of the Trustee, or by an Authenticating
Agent. Such signature shall be conclusive evidence and the only evidence that
the Security so authenticated has been duly authenticated and delivered
hereunder and that the Holder is entitled to the benefits of this Indenture. At
any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities of any series executed by the
Company to the Trustee for authentication, together with a written order of the
Company for the authentication and delivery of such Securities, signed by its
President or any Vice President and its Secretary or any Assistant Secretary,
and the Trustee in accordance with such written order shall authenticate and
deliver such Securities. In authenticating such Securities and accepting the
additional responsibilities under this Indenture in relation to such
Securities, the Trustee shall be entitled to receive, and (subject to Section 7.01)
shall be fully protected in relying upon, an Opinion of Counsel stating that
the form and terms thereof have been established in conformity with the
provisions of this Indenture and that such Securities, when authenticated and
delivered by the Trustee and issued by the Company in the manner and subject to
any conditions specified in such Opinion of Counsel, will constitute valid and
legally binding obligations of the Company enforceable in accordance with their
terms, subject to any Bankruptcy Law or other insolvency, fraudulent transfer,
reorganization, moratorium and similar laws of general applicability relating
to or affecting creditors’ rights and to general equity principles and to other
customary exceptions. The Trustee shall not be required to authenticate such
Securities if the issue of such Securities pursuant to this Indenture will affect
the Trustee’s own rights, duties or immunities under the Securities and this
Indenture or otherwise in a manner that is not reasonably acceptable to the
Trustee.

 

SECTION 2.05
REGISTRATION OF TRANSFER AND EXCHANGE.

 

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

 

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

 

9

 

transfer of any Security
at the office or agency of the Company designated for such purpose, the Company
shall execute, the Trustee shall authenticate and such office or agency shall
deliver in the name of the transferee or transferees a new Security or
Securities of the same series as the Security presented for a like aggregate
principal amount. All Securities presented or surrendered for exchange or
registration of transfer, as provided in this Section, shall be accompanied (if
so required by the Company or the Security Registrar) by a written instrument
or instruments of transfer, in form satisfactory to the Company or the Security
Registrar, duly executed by the registered Holder or by such Holder’s duly
authorized attorney in writing.

 

(c) No
service charge shall be made for any exchange or registration of transfer of
Securities, or issue of new Securities in case of partial redemption of any
series, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge in relation thereto, other than exchanges
pursuant to Section 2.06, Section 3.03(b) and Section 9.04
not involving any transfer. The Company shall not be required (i) to
issue, exchange or register the transfer of any Securities during a period
beginning at the opening of business 15 days before the day of the mailing
of a notice of redemption of less than all the Outstanding Securities of the
same series and ending at the close of business on the day of such mailing, nor
(ii) to register the transfer of or exchange any Securities of any series
or portions thereof called for redemption. The provisions of this Section 2.05
are, with respect to any Global Security, subject to Section 2.11 hereof.

 

SECTION 2.06 TEMPORARY SECURITIES.

 

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

 

SECTION 2.07 MUTILATED, DESTROYED, LOST OR STOLEN
SECURITIES.

 

In
case any temporary or definitive Security shall become mutilated or be
destroyed, lost or stolen, the Company (subject to the next succeeding
sentence) shall execute, and upon the Company’s request the Trustee (subject as
aforesaid) shall authenticate and deliver, a new Security of the same series,
bearing a number not contemporaneously outstanding, in exchange and
substitution for the mutilated Security, or in lieu of and in substitution for
the Security so destroyed, lost or stolen. In every case the applicant for a
substituted Security shall furnish to the Company and the Trustee such security
or indemnity as may be required by them to save each of them harmless, and, in
every case of destruction, loss or theft, the applicant shall also furnish to
the Company and the Trustee evidence to their satisfaction of the destruction,
loss or theft of the applicant’s Security and of the ownership thereof. The
Trustee may authenticate any such substituted Security and deliver the same
upon the written request or authorization of any officer of the Company. Upon
the issuance of any substituted Security, the Company may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses (including the fees and
expenses of the Trustee) connected therewith. In case any Security that has
matured or is about to mature shall become mutilated or be destroyed, lost or
stolen, the Company may, instead of issuing a substitute Security, pay or
authorize the payment of the same (without

 

10

 

surrender thereof except
in the case of a mutilated Security) if the applicant for such payment shall
furnish to the Company and the Trustee such security or indemnity as they may
require to save them harmless, and, in case of destruction, loss or theft,
evidence to the satisfaction of the Company and the Trustee of the destruction,
loss or theft of such Security and of the ownership thereof. Every replacement
Security issued pursuant to the provisions of this Section shall
constitute an additional contractual obligation of the Company whether or not
the mutilated, destroyed, lost or stolen Security shall be found at any time,
or be enforceable by anyone, and shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Securities of the
same series duly issued hereunder. All Securities shall be held and owned upon
the express condition that the foregoing provisions are exclusive with respect
to the replacement or payment of mutilated, destroyed, lost or stolen
Securities, and shall preclude (to the extent lawful) any and all other rights
or remedies, notwithstanding any law or statute existing or hereafter enacted
to the contrary with respect to the replacement or payment of negotiable
instruments or other securities without their surrender.

 

SECTION 2.08 CANCELLATION.

 

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

 

SECTION 2.09 BENEFITS OF INDENTURE.

 

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

 

SECTION 2.10 AUTHENTICATING AGENT.

 

So
long as any of the Securities of any series remain Outstanding there may be an
Authenticating Agent for any or all such series of Securities which the Trustee
shall have the right to appoint. Said Authenticating Agent shall be authorized
to act on behalf of the Trustee to authenticate Securities of such series
issued upon exchange, transfer or partial redemption thereof, and Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be
valid and obligatory for all purposes as if authenticated by the Trustee
hereunder. All references in this Indenture to the authentication of Securities
by the Trustee shall be deemed to include authentication by an Authenticating
Agent for such series. Each Authenticating Agent shall be acceptable to the
Company and shall be a corporation that has a combined capital and surplus, as
most recently reported or determined by it, sufficient under the laws of any
jurisdiction under which it is organized or in which it is doing business to
conduct a trust business, and that is otherwise authorized under such laws to
conduct such business and is subject to supervision or examination by federal
or state authorities. If at any time any Authenticating Agent shall cease to be
eligible in accordance with these provisions, it shall resign immediately. Any
Authenticating Agent may at any time resign by giving written notice of
resignation to the Trustee and to the Company. The Trustee may at any time (and
upon request by the Company shall) terminate the agency of any Authenticating
Agent by giving written notice of termination to such Authenticating Agent and
to the Company. Upon resignation, termination or cessation of eligibility of
any Authenticating Agent, the Trustee may appoint an eligible successor
Authenticating Agent acceptable to the Company. Any successor Authenticating
Agent, upon acceptance of

 

11

 

its appointment
hereunder, shall become vested with all the rights, powers and duties of its
predecessor hereunder as if originally named as an Authenticating Agent
pursuant hereto. Any corporation into which an Authenticating Agent may be
merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which such
Authenticating Agent shall be a party, or any corporation succeeding to the
corporate agency or corporate trust business of an Authenticating Agent, shall
continue to be an Authenticating Agent, provided that such corporation shall be
otherwise eligible under this Section, without the execution or filing of any
paper or any further act on the part of the Trustee or the Authenticating
Agent.

 

SECTION 2.11 GLOBAL SECURITIES.

 

(a) If
the Company shall establish pursuant to Section 2.01 that the Securities
of a particular series are to be issued as a Global Security, then the Company
shall execute and the Trustee shall, in accordance with Section 2.04,
authenticate and deliver, a Global Security that

 

(1) shall
represent, and shall be denominated in an amount equal to the aggregate
principal amount of, all or a portion of the Outstanding Securities of such
series,

 

(2) shall
be registered in the name of the Depositary or its nominee,

 

(3) shall
be delivered by the Trustee to the Depositary or pursuant to the Depositary’s
instruction, and

 

(4) shall
bear a legend substantially to the following effect: “Except as otherwise
provided in Section 2.11 of the Indenture, this Security may be
transferred, in whole but not in part, only to the Depositary, another nominee
of the Depositary or to a successor Depositary or to a nominee of such
successor Depositary.”

 

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

 

(c) If
at any time the Depositary for a series of the Securities notifies the Company
that it is unwilling or unable to continue as Depositary for such series or if
at any time the Depositary for such series shall no longer be registered or in
good standing under the Exchange Act, or other applicable statute or
regulation, and a successor Depositary for such series is not appointed by the
Company within 90 days after the Company receives such notice or becomes
aware of such condition, as the case may be, this Section 2.11 shall no
longer be applicable to the Securities of such series and the Company will
execute, and subject to Section 2.05, the Trustee will authenticate and
deliver the Securities of such series in definitive registered form without
coupons, in authorized denominations, and in an aggregate principal amount
equal to the principal amount of the Global Security of such series in exchange
for such Global Security. In addition, the Company may at any time determine
that the Securities of any series shall no longer be represented by a Global
Security and that the provisions of this Section 2.11 shall no longer
apply to the Securities of such series. In such event the Company will execute
and subject to Section 2.05, the Trustee, upon receipt of an Officers’
Certificate evidencing such determination by the Company, will authenticate and
deliver the Securities of such series in definitive registered form without
coupons, in authorized denominations, and in an aggregate principal amount
equal to the principal amount of the Global Security of such series in exchange
for such Global Security. Upon the exchange of the Global Security for such
Securities in definitive registered form without coupons, in authorized
denominations, the Global Security shall be canceled by the Trustee. Such
Securities in definitive registered form issued in exchange for the Global
Security pursuant to this Section 2.11(c) shall be registered in such
names and in such authorized denominations as the Depositary, pursuant to
instructions from its direct or indirect

 

12

 

participants or
otherwise, shall instruct the Trustee. The Trustee shall deliver such
Securities to the Depositary for delivery to the Persons in whose names such
Securities are so registered.

 

(d)  None of the
Trustee, the Security Registrar or any paying agent shall have any
responsibility or obligation to any beneficial owner in a Global Security, a
member of, or a participant in the Depositary or other Person with respect to
the accuracy of the records of the Depositary or its nominee or of any participant
or member thereof, with respect to any ownership interest in the Securities or
with respect to the delivery to any participant, member, beneficial owner or
other Person (other than the Depositary) of any notice (including any notice of
redemption) or the payment of any amount, under or with respect to such
Securities.  All notices and
communications to be given to the Securityholders and all payments to be made
to Securityholders under the Securities and this Indenture shall be given or
made only to or upon the order of the registered holders (which shall be the
Depositary or its nominee in the case of the Global Security).  The rights of beneficial owners in the Global
Security shall be exercised only through the Depositary subject to the
applicable procedures.  The Trustee, the
Security Registrar and any paying agent shall be entitled to rely and shall be
fully protected in relying upon information furnished by the Depositary with
respect to its members, participants and any beneficial owners.  The Trustee, the Security Registrar and any
paying agent shall be entitled to deal with any depositary (including the
Depositary), and any nominee thereof, that is the registered holder of any
Global Security for all purposes of this Indenture relating to such Global
Security (including the payment of principal, premium, if any, and interest and
additional amounts, if any, and the giving of instructions or directions by or
to the owner or holder of a beneficial ownership interest in such Global
Security) as the sole holder of such Global Security and shall have no
obligations to the beneficial owners thereof. 
None of the Trustee, the Security Registrar or any paying agent shall
have any responsibility or liability for any acts or omissions of any such
depositary with respect to such Global Security, for the records of any such
depositary, including records in respect of beneficial ownership interests in
respect of any such Global Security, for any transactions between such
depositary and any participant in such depositary or between or among any such
depositary, any such participant and/or any holder or owner of a beneficial
interest in such Global Security, or for any transfers of beneficial interests
in any such Global Security.

 

Notwithstanding
the foregoing, with respect to any Global Security, nothing herein shall
prevent the Company, the Trustee, the Security Registrar, any paying agent, or
any other agent of the Company or any agent of the Trustee, from giving effect
to any written certification, proxy or other authorization furnished by any
depositary (including the Depositary), as a Securityholder, with respect to
such Global Security or impair, as between such depositary and owners of
beneficial interests in such Global Security, the operation of customary practices
governing the exercise of the rights of such depositary (or its nominee) as
Holder of such Global Security.

 

ARTICLE III

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

 

SECTION 3.01 REDEMPTION.

 

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

 

SECTION 3.02 NOTICE OF REDEMPTION.

 

(a) In
case the Company shall desire to exercise such right to redeem all or, as the
case may be, a portion of the Securities of any series in accordance with the
right reserved so to do, the Company shall (upon five Business Days prior
notice to the Trustee, unless a shorter notice period shall be acceptable to
the Trustee), or shall cause the Trustee to, give notice of such redemption to
Holders of the Securities of such series to be redeemed by mailing, first class
postage prepaid, a notice of such redemption not less than 30 days and not
more than 90 days before the date fixed for redemption of that series to
such Holders at their last addresses as they shall appear upon the Security
Register unless a shorter period is specified in the

 

13

 

Securities to be
redeemed. Any notice that is mailed in the manner herein provided shall be
conclusively presumed to have been duly given, whether or not the registered
Holder receives the notice. In any case, failure duly to give such notice to
the Holder of any Security of any series designated for redemption in whole or
in part, or any defect in the notice, shall not affect the validity of the
proceedings for the redemption of any other Securities of such series or any
other series. In the case of any redemption of Securities prior to the expiration
of any restriction on such redemption provided in the terms of such Securities
or elsewhere in this Indenture, the Company shall furnish the Trustee with an
Officers’ Certificate evidencing compliance with any such restriction. Each
such notice of redemption shall specify the date fixed for redemption and the
redemption price at which Securities of that series are to be redeemed, and
shall state that payment of the redemption price of such Securities to be
redeemed will be made at the office or agency of the Company in the Borough of
Manhattan, the City and State of New York, upon presentation and surrender of
such Securities, that interest accrued to the date fixed for redemption will be
paid as specified in said notice, that from and after said date interest will
cease to accrue and that the redemption is for a sinking fund, if such is the
case. If less than all the Securities of a series are to be redeemed, the
notice to the Holders of Securities of that series to be redeemed in whole or
in part shall specify the particular Securities to be so redeemed. In case any
Security is to be redeemed in part only, the notice that relates to such
Security shall state the portion of the principal amount thereof to be
redeemed, and shall state that on and after the redemption date, upon surrender
of such Security, a new Security or Securities of such series in principal
amount equal to the unredeemed portion thereof will be issued.

 

(b) If
less than all the Securities of a series are to be redeemed, the Company shall
give the Trustee at least 45 days’ notice in advance of the date fixed for
redemption as to the aggregate principal amount of Securities of the series to
be redeemed, and thereupon the Trustee shall select, by lot or in such other
manner as it shall deem appropriate and fair in its discretion and that may
provide for the selection of a portion or portions (equal to one thousand U.S.
dollars ($1,000) or any integral multiple thereof) of the principal amount of
such Securities of a denomination larger than $1,000, the Securities to be
redeemed and shall thereafter promptly notify the Company in writing of the
numbers of the Securities to be redeemed, in whole or in part. The Company may,
if and whenever it shall so elect, by delivery of instructions signed on its
behalf by its President or any Vice President, instruct the Trustee or any
paying agent to call all or any part of the Securities of a particular series
for redemption and to give notice of redemption in the manner set forth in this
Section, such notice to be in the name of the Company or its own name as the
Trustee or such paying agent as it may deem advisable. In any case in which
notice of redemption is to be given by the Trustee or any such paying agent,
the Company shall deliver or cause to be delivered to, or permit to remain
with, the Trustee or such paying agent, as the case may be, such Security
Register, transfer books or other records, or suitable copies or extracts
therefrom, sufficient to enable the Trustee or such paying agent to give any
notice by mail that may be required under the provisions of this Section.

 

SECTION 3.03 PAYMENT UPON REDEMPTION.

 

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

 

(b) Upon
presentation of any Security of such series that is to be redeemed in part
only, the Company shall execute and the Trustee shall authenticate and the
office or agency where the Security is

 

14

 

presented shall deliver
to the Holder thereof, at the expense of the Company, a new Security of the
same series of authorized denominations in principal amount equal to the
unredeemed portion of the Security so presented.

 

SECTION 3.04 SINKING FUND.

 

The
provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any
sinking fund for the retirement of Securities of a series, except as otherwise
specified as contemplated by Section 2.01 for Securities of such series.
The minimum amount of any sinking fund payment provided for by the terms of
Securities of any series is herein referred to as a “mandatory sinking fund
payment,” and any payment in excess of such minimum amount provided for by the
terms of Securities of any series is herein referred to as an “optional sinking
fund payment”. If provided for by the terms of Securities of any series, the
cash amount of any sinking fund payment may be subject to reduction as provided
in Section 3.05. Each sinking fund payment shall be applied to the redemption
of Securities of any series as provided for by the terms of Securities of such
series.

 

SECTION 3.05 SATISFACTION OF SINKING FUND PAYMENTS WITH
SECURITIES.

 

The
Company,

 

(1) may
deliver Outstanding Securities of a series (other than any Securities
previously called for redemption) and

 

(2) may
apply as a credit Securities of a series that have been redeemed either at the
election of the Company pursuant to the terms of such Securities or through the
application of permitted optional sinking fund payments pursuant to the terms
of such Securities, in each case in satisfaction of all or any part of any
sinking fund payment with respect to the Securities of such series required to
be made pursuant to the terms of such Securities as provided for by the terms
of such series, provided that such Securities have not been previously so
credited. Such Securities shall be received and credited for such purpose by
the Trustee at the redemption price specified in such Securities for redemption
through operation of the sinking fund and the amount of such sinking fund
payment shall be reduced accordingly.

 

SECTION 3.06 REDEMPTION OF SECURITIES FOR SINKING FUND.

 

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

 

ARTICLE IV

COVENANTS

 

SECTION 4.01 PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST.

 

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

 

15

 

SECTION 4.02 MAINTENANCE OF OFFICE OR AGENCY.

 

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

 

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

 

SECTION 4.03 PAYING AGENTS.

 

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

 

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

 

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

 

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

 

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

 

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

 

16

 

with the paying agent a
sum sufficient to pay the principal (and premium, if any) or interest so
becoming due, such sum to be held in trust for the benefit of the Persons
entitled to such principal, premium or interest, and (unless such paying agent
is the Trustee) the Company will promptly notify the Trustee of this action or
failure so to act.

 

(c) Notwithstanding
anything in this Section to the contrary,

 

(1) the
agreement to hold sums in trust as provided in this Section is subject to
the provisions of Section 11.05, and

 

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

 

SECTION 4.04 APPOINTMENT TO FILL VACANCY IN OFFICE OF
TRUSTEE.

 

The
Company, whenever necessary to avoid or fill a vacancy in the office of
Trustee, will appoint, in the manner provided in Section 7.11, a Trustee,
so that there shall at all times be a Trustee hereunder.

 

SECTION 4.05 COMPLIANCE WITH CONSOLIDATION PROVISIONS.

 

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

 

SECTION 4.06 STATEMENT BY OFFICERS AS TO DEFAULT.

 

The
Company will deliver to the Trustee, within 120 days after the end of each
fiscal year of the Company, an Officers’ Certificate, stating whether or not to
the best knowledge of the signer 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 such signer may have
knowledge.

 

ARTICLE V

SECURITYHOLDERS’ LISTS AND REPORTS

BY THE COMPANY AND THE TRUSTEE

 

SECTION 5.01 COMPANY TO FURNISH TRUSTEE NAMES AND
ADDRESSES OF SECURITYHOLDERS.

 

The
Company will furnish or cause to be furnished to the Trustee:

 

(1) not
more than 15 days after each regular record date (as defined in Section 2.03)
a list, in such form as the Trustee may reasonably require, of the names and
addresses of the Holders of each series of Securities as of such regular record
date, provided that the Company shall not be obligated to furnish or cause to
furnish such list at any time that the list shall not differ in any respect
from the most recent list furnished to the Trustee by the Company; and

 

17

 

(2) at
such other times as the Trustee may request in writing within 30 days after the
receipt by the Company of any such request, a list of similar form and content
as of a date not more than 15 days prior to the time such list is
furnished; provided, however, that, in either case, no such list need be
furnished for any series for which the Trustee shall be the Security Registrar.

 

SECTION 5.02 PRESERVATION OF INFORMATION; COMMUNICATIONS
WITH SECURITYHOLDERS.

 

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

 

(b) The
Trustee may destroy any list furnished to it as provided in Section 5.01
upon receipt of a new list so furnished.

 

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

 

SECTION 5.03 REPORTS BY THE COMPANY.

 

(a) The
Company covenants and agrees to file with the Trustee, within 15 days after the
Company has filed the same with the Commission, copies of the annual reports
and of the information, documents and other reports (or copies of such portions
of any of the foregoing as the Commission may from time to time by rules and
regulations prescribe) that the Company may be required to file with the
Commission pursuant to Section 13 or Section 15(d) of the
Exchange Act; or, if the Company is not required to file information, documents
or reports pursuant to either of such sections, then to file with the Trustee
and the Commission, in accordance with the rules and regulations
prescribed from time to time by the Commission, such of the supplementary and
periodic information, documents and reports that may be required pursuant to Section 13
of the Exchange Act, in respect of a security listed and registered on a
national securities exchange as may be prescribed from time to time in such rules and
regulations.

 

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

 

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

 

(d) Delivery
of reports, information and documents to the Trustee under this Section 5.03
is for informational purposes only and the Trustee’s receipt of the foregoing
shall not constitute constructive notice of any information contained therein
or determinable from information contained therein, including the Company’s
compliance with any of its respective covenants hereunder (as to which the
Trustee is entitled to rely exclusively on Officers’ Certificates, except as
otherwise provided herein).

 

18

 

SECTION 5.04 REPORTS BY THE TRUSTEE.

 

(a) On
or before July 15 in each year in which any of the Securities are
Outstanding, the Trustee shall transmit by mail, first class postage prepaid,
to the Securityholders, as their names and addresses appear upon the Security
Register, a brief report dated as of the preceding May 15, if and to the
extent required under Section 313(a) of the Trust Indenture Act.

 

(b) The
Trustee shall comply with Section 313(b) and 313(c) of the Trust
Indenture Act.

 

(c) A
copy of each such report shall, at the time of such transmission to
Securityholders, be filed by the Trustee with the Company, with each stock
exchange upon which any Securities are listed (if so listed) and also with the
Commission. The Company agrees to notify the Trustee when any Securities become
listed on any stock exchange.

 

ARTICLE VI

REMEDIES OF THE TRUSTEE

AND SECURITYHOLDERS ON EVENT OF DEFAULT

 

SECTION 6.01 EVENTS OF DEFAULT.

 

(a) Whenever
used herein with respect to Securities of a particular series, “Event of
Default” means any one or more of the following events that has occurred and is
continuing (whatever the reason for such Event of Default and whether it shall
be voluntary or involuntary or be effected by operation of law or pursuant to
any judgment, decree or order of any court or any order, rule or
regulation of any administrative or governmental body):

 

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

 

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

 

(3) the
Company fails to observe or perform any other of its covenants or agreements
with respect to that series contained in this Indenture or otherwise
established with respect to that series of Securities pursuant to Section 2.01
hereof (other than a covenant or agreement that has been expressly included in this
Indenture solely for the benefit of one or more series of Securities other than
such series) for a period of 90 days after the date on which written
notice of such failure, requiring the same to be remedied and stating that such
notice is a “Notice of Default” hereunder, shall have been given to the Company
by the Trustee, by registered or certified mail, or to the Company and the
Trustee by the Holders of at least 25% in principal amount of the Securities of
that series at the time Outstanding;

 

(4) the
Company pursuant to or within the meaning of any Bankruptcy Law

 

(i)             commences a voluntary case,

 

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

 

19

 

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

 

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

 

(5) a
court of competent jurisdiction enters an order under any Bankruptcy Law that

 

(i)             is for relief against the Company in an
involuntary case,

 

(ii)          appoints a Custodian of the Company for
all or substantially all of its property, or

 

(iii)       orders
the liquidation of the Company, and the order remains unstayed and in effect
for 90 days.

 

(b) In
each and every such case, unless the principal of all the Securities of that
series shall have already become due and payable, either the Trustee or the
Holders of not less than 25% in aggregate principal amount of the Securities of
that series then Outstanding hereunder, by notice in writing to the Company
(and to the Trustee if given by such Securityholders), may declare the
principal of all the Securities of that series to be due and payable
immediately, and upon any such declaration the same shall become and shall be
immediately due and payable, notwithstanding anything contained in this
Indenture or in the Securities of that series or established with respect to
that series pursuant to Section 2.01 to the contrary.

 

(c) At
any time after the principal of the Securities of that series shall have been
so declared due and payable, and before any judgment or decree for the payment
of the moneys due shall have been obtained or entered as hereinafter provided,
the Holders of a majority in aggregate principal amount of the Securities of
that series then Outstanding hereunder, by written notice to the Company and
the Trustee, may rescind and annul such declaration and its consequences if:

 

(i) the
Company has paid or deposited with the Trustee a sum sufficient to pay all
matured installments of interest upon all the Securities of that series and the
principal of (and premium, if any, on) any and all Securities of that series
that shall have become due otherwise than by acceleration (with interest upon
such principal and premium, if any, and, to the extent that such payment is
enforceable under applicable law, upon overdue installments of interest, at the
rate per annum expressed in the Securities of that series to the date of such
payment or deposit) and the amount payable to the Trustee under Section 7.07,
and

 

(ii) any
and all Events of Default under the Indenture with respect to such series,
other than the nonpayment of principal on Securities of that series that shall
not have become due by their terms, shall have been remedied or waived as
provided in Section 6.06. No such rescission and annulment shall extend to
or shall affect any subsequent default or impair any right consequent thereon.

 

(d) In
case the Trustee shall have proceeded to enforce any right with respect to
Securities of that series under this Indenture and such proceedings shall have
been discontinued or abandoned because of such rescission or annulment or for
any other reason or shall have been determined adversely to the Trustee, then
and in every such case, subject to any determination in such proceedings, the
Company, and the Trustee shall be restored respectively to their former
positions and rights hereunder, and all rights, remedies and powers of the
Company and the Trustee shall continue as though no such proceedings had been
taken.

 

SECTION 6.02 COLLECTION OF INDEBTEDNESS AND SUITS FOR
ENFORCEMENT BY TRUSTEE.

 

(a) The
Company covenants that

 

20

 

(i) in
case it shall default in the payment of any installment of interest on any of
the Securities of a series, as and when the same shall have become due and
payable, and such default shall have continued for a period of 90 days, or

 

(ii) in
case it shall default in the payment of the principal of (or premium, if any,
on) any of the Securities of a series when the same shall have become due and
payable, whether upon maturity of the Securities of a series or upon redemption
or upon declaration, pursuant to any sinking or analogous fund established with
respect to that series or otherwise, then, upon demand of the Trustee, the
Company will pay to the Trustee, for the benefit of the Holders of the
Securities of that series, the whole amount that then shall have been become
due and payable on all such Securities for principal (and premium, if any) or
interest, or both, as the case may be, with interest upon the overdue principal
(and premium, if any) and (to the extent that payment of such interest is
enforceable under applicable law) upon overdue installments of interest at the
rate per annum expressed in the Securities of that series; and, in addition
thereto, such further amount as shall be sufficient to cover the costs and
expenses of collection, and the amount payable to the Trustee under Section 7.07.

 

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

 

(c) In
case of any receivership, insolvency, liquidation, bankruptcy, reorganization,
readjustment, arrangement, composition or judicial proceedings affecting the
Company, or its creditors or property, the Trustee shall have power to
intervene in such proceedings and take any action therein that may be permitted
by the court and shall (except as may be otherwise provided by law) be entitled
to file such proofs of claim and other papers and documents as may be necessary
or advisable in order to have the claims of the Trustee and of the Holders of
Securities of such series allowed for the entire amount due and payable by the
Company under the Indenture at the date of institution of such proceedings and
for any additional amount that may become due and payable by the Company after
such date, and to collect and receive any moneys or other property payable or
deliverable on any such claim, and to distribute the same after the deduction
of the amount payable to the Trustee under Section 7.07; and any receiver,
assignee or trustee in bankruptcy or reorganization is hereby authorized by
each of the Holders of Securities of such series to make such payments to the
Trustee, and, in the event that the Trustee shall consent to the making of such
payments directly to such Securityholders, to pay to the Trustee any amount due
it under Section 7.07.

 

(d) All
rights of action and of asserting claims under this Indenture, or under any of
the terms established with respect to Securities of that series, may be
enforced by the Trustee without the possession of any of such Securities, or
the production thereof at any trial or other proceeding relative thereto, and
any such suit or proceeding instituted by the Trustee shall be brought in its
own name as trustee of an express trust, and any recovery of judgment shall,
after provision for payment to the Trustee of any amounts due under Section 7.07,
be for the ratable benefit of the Holders of the Securities of such series. In
case of an Event of Default hereunder, the Trustee may in its discretion
proceed to protect and enforce the rights vested in it by this Indenture by such
appropriate judicial proceedings as the Trustee shall deem most effectual to
protect and enforce any of such rights, either at law or in equity or in
bankruptcy or otherwise, whether for the specific enforcement of any covenant
or agreement contained in the Indenture or in aid of the exercise of any power
granted in this Indenture, or to enforce any other legal or equitable right
vested in the Trustee by this Indenture or by law. Nothing contained herein
shall be deemed to authorize the Trustee to authorize or consent to or accept
or adopt on behalf of any Securityholder any plan of reorganization,
arrangement, adjustment or composition affecting the Securities of that series
or the rights of any Holder thereof or to authorize the Trustee to vote in respect
of the claim of any Securityholder in any such proceeding.

 

21

 

SECTION 6.03 APPLICATION OF MONEYS COLLECTED.

 

Any
moneys collected by the Trustee pursuant to this Article with respect to a
particular series of Securities and any money or other property distributable
in respect of the company’s obligations under this Indenture after an Event of
Default shall be applied in the following order, at the date or dates fixed by
the Trustee and, in case of the distribution of such moneys on account of
principal (or premium, if any) or interest, upon presentation of the Securities
of that series, and notation thereon of the payment, if only partially paid,
and upon surrender thereof if fully paid:

 

FIRST:
To the payment of costs and expenses of collection and of all amounts payable
to the Trustee (including any predecessor Trustee) under Section 7.07; and

 

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

 

SECTION 6.04 LIMITATION ON SUITS.

 

No
Holder of any Security of any series shall have any right by virtue or by
availing of any provision of this Indenture to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this Indenture
or for the appointment of a receiver or trustee, or for any other remedy hereunder,
unless

 

(1) such
Holder previously shall have given to the Trustee written notice of an Event of
Default and of the continuance thereof with respect to the Securities of such
series specifying such Event of Default, as hereinbefore provided;

 

(2) the
Holders of not less than 25% in aggregate principal amount of the Securities of
such series then Outstanding shall have made written request upon the Trustee
to institute such action, suit or proceeding in its own name as trustee
hereunder;

 

(3) such
Holder or Holders shall have offered to the Trustee such reasonable indemnity
as it may require against the costs, expenses and liabilities to be incurred
therein or thereby; and

 

(4) the
Trustee for 60 days after its receipt of such notice, request and offer of
indemnity, shall have failed to institute any such action, suit or proceeding
and

 

(5) during
such 60 day period, the Holders of a majority in principal amount of the
Securities of that series do not give the Trustee a direction inconsistent with
the request.

 

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

 

22

 

provisions of this
Section, each and every Securityholder and the Trustee shall be entitled to
such relief as can be given either at law or in equity.

 

SECTION 6.05 RIGHTS AND REMEDIES CUMULATIVE; DELAY OR
OMISSION NOT WAIVER.

 

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

 

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

 

SECTION 6.06 CONTROL BY SECURITYHOLDERS.

 

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

 

SECTION 6.07 UNDERTAKING TO PAY COSTS.

 

All
parties to this Indenture agree, and each Holder of any Securities by such
Holder’s acceptance thereof shall be deemed to have agreed, that any court may
in its discretion require, in any suit for the enforcement of any right or
remedy under this Indenture, or in any suit against the Trustee for any action
taken or omitted by it as Trustee, the filing by any party litigant in such
suit of an undertaking to pay the costs of such suit, and that such court may
in its discretion assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in such suit, having due regard to the merits
and good faith of the claims or defenses made by such party litigant; but the
provisions of this Section shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Securityholder, or group of Securityholders,
holding

 

23

 

more than 10% in
aggregate principal amount of the Outstanding Securities of any series, or to
any suit instituted by any Securityholder for the enforcement of the payment of
the principal of (or premium, if any) or interest on any Security of such
series, on or after the respective due dates expressed in such Security or
established pursuant to this Indenture.

 

ARTICLE VII

CONCERNING THE TRUSTEE

 

SECTION 7.01 CERTAIN DUTIES AND RESPONSIBILITIES OF
TRUSTEE.

 

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

 

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

 

(i) prior
to the occurrence of an Event of Default with respect to the Securities of a
series and after the curing or waiving of all such Events of Default with
respect to that series that may have occurred: the duties and obligations of
the Trustee shall with respect to the Securities of such series be determined
solely by the express provisions of this Indenture, and the Trustee shall not
be liable with respect to the Securities of such series except for the
performance of such duties and obligations as are specifically set forth in
this Indenture, and no implied covenants or obligations shall be read into this
Indenture against the Trustee; and in the absence of bad faith on the part of
the Trustee, the Trustee may with respect to the Securities of such series
conclusively rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon any certificates or opinions furnished to the
Trustee and conforming to the requirements of this Indenture; but in the case
of any such certificates or opinions that by any provision hereof are
specifically required to be furnished to the Trustee, the Trustee shall be
under a duty to examine the same to determine whether or not they conform to
the requirement of this Indenture;

 

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

 

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

 

(iv) this
Subsection shall not be construed to limit the effect of Subsection (c) of
this Section 7.01.

 

(c) none
of the provisions contained in this Indenture shall require the Trustee to
expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its
rights or powers,  it shall have
reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it.

 

24

 

(d) The
Trustee shall not be deemed to have notice of or be charged with Knowledge with
any Default or Event of Default with respect to any series of Securities,
except Events of Default under Section 6.01(a)(1) or (a)(2), if and
so long as it is acting as paying agent with respect to the Securities of such
series, unless written notice of such Default Event or Event of Default, as the
case may be, is received by the Trustee at the Corporate Trust Office of the
Trustee from the Company or any Holder of Securities of such series, and such
notice references the Securities and this Indenture.

 

(e) Whether
or not expressly so provided, every provision of this Indenture relating to the
conduct or affecting the liability of or affording protection to the Trustee
shall be subject to the provisions of this Section 7.01.

 

SECTION 7.02 NOTICE OF DEFAULTS.

 

If a
Default occurs hereunder with respect to Securities of any series and is known
to a Responsible Officer of the Trustee, the Trustee shall give the Holders of
Securities of such series notice of such Default as and to the extent provided
by the Trust Indenture Act; provided, however, that in the case of any Default
of the character specified in clause (3) of Section 6.01(a) with
respect to Securities of such series, no such notice to Holders shall be given
until at least 30 days after the occurrence thereof.

 

SECTION 7.03 CERTAIN RIGHTS OF TRUSTEE.

 

Except
as otherwise provided in Section 7.01:

 

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

 

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

 

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

 

(d) The
Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request, order or direction of any of the
Securityholders, pursuant to the provisions of this Indenture, unless such
Securityholders shall have offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities that may be incurred
therein or thereby; nothing contained herein shall, however, relieve the
Trustee of the obligation, upon the occurrence of an Event of Default with
respect to a series of the Securities (that has not been cured or waived) to
exercise with respect to Securities of that series such of the rights and
powers vested in it by this Indenture, and to use the same degree of care and
skill in their exercise, as a prudent man would exercise or use under the
circumstances in the conduct of his own affairs;

 

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

 

25

 

(f) The
Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, consent, order, approval, bond, security, or other papers or
documents; and

 

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

 

(h) whenever
in the administration of this Indenture the Trustee shall deem it desirable
that a matter be proved or established prior to taking, suffering or omitting
any action hereunder, the Trustee (unless other evidence be herein specifically
prescribed) may, in the absence of bad faith on its part, conclusively rely
upon an Officers’ Certificate;

 

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

 

(j) the Trustee may request that the Company
deliver an Officers’ Certificate setting forth the names of individuals and/or
titles of officers authorized at such time to take specified actions pursuant
to this Indenture;

 

(k) the permissive right of the Trustee to take
or refrain from taking any actions enumerated in this Indenture shall not be
construed as a duty;

 

(l) anything in this Indenture notwithstanding,
in no event shall the Trustee be liable for special, indirect, punitive or
consequential loss or damage of any kind whatsoever (including but not limited
to loss of profit), even if the Company or Guarantor has been advised as to the
likelihood of such loss or damage and regardless of the form of action;

 

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

 

SECTION 7.04 TRUSTEE NOT RESPONSIBLE FOR RECITALS OR
ISSUANCE OR SECURITIES.

 

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

 

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

 

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

 

26

 

SECTION 7.05 MAY HOLD SECURITIES.

 

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

 

SECTION 7.06 MONEYS HELD IN TRUST.

 

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

 

SECTION 7.07 COMPENSATION AND REIMBURSEMENT.

 

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

 

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

 

(c) To the extent permitted by law, any
compensation due or expense incurred by the Trustee after a default specified
in or pursuant to Section 6.01 is intended to constitute an expense of
administration under any then applicable bankruptcy or insolvency law. “Trustee”
for purposes of this Section 7.07 shall include any predecessor Trustee
but the negligence or bad faith of any Trustee shall not affect the rights of
any other Trustee under this Section 7.07.

 

(d) The
provisions of this Section 7.07 shall survive the satisfaction and
discharge of this Indenture, the termination of this Indenture for any reason,
or the earlier resignation or removal of the Trustee and shall apply with equal
force and effect to the Trustee in its capacity as Authenticating Agent,
Security Registrar or paying agent.

 

27

 

SECTION 7.08 RELIANCE ON OFFICERS’ CERTIFICATE.

 

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

 

SECTION 7.09 DISQUALIFICATION; CONFLICTING INTERESTS.

 

If the
Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of
the Trust Indenture Act, the Trustee and the Company shall in all respects
comply with the provisions of Section 310(b) of the Trust Indenture Act,
subject to the penultimate paragraph thereof. 
For purposes of Section 310(b)(i) of the Trust Indenture Act
and to the extent permitted thereby, the Trustee, in its capacity as trustee in
respect of the Securities of any series, shall not be deemed to have a
conflicting interest arising from its capacity as trustee in respect of the
Securities of any other series.

 

SECTION 7.10 CORPORATE TRUSTEE REQUIRED; ELIGIBILITY.

 

There
shall at all times be a Trustee with respect to the Securities issued hereunder
which shall at all times be a corporation organized and doing business under
the laws of the United States of America or any State or Territory thereof or
of the District of Columbia, or a corporation or other Person permitted to act
as trustee by the Commission, authorized under such laws to exercise corporate
trust powers, having a combined capital and surplus of at least fifty million
U.S. dollars ($50,000,000), and subject to supervision or examination by
federal, state, territorial, or District of Columbia authority. If such
corporation publishes reports of condition at least annually, pursuant to law
or to the requirements of the aforesaid supervising or examining authority,
then for the purposes of this Section, the combined capital and surplus of such
corporation shall be deemed to be its combined capital and surplus as set forth
in its most recent report of condition so published. The Company may not, nor
may any Person directly or indirectly controlling, controlled by, or under
common control with the Company, serve as Trustee. In case at any time the
Trustee shall cease to be eligible in accordance with the provisions of this
Section, the Trustee shall resign immediately in the manner and with the effect
specified in Section 7.11.

 

SECTION 7.11 RESIGNATION AND REMOVAL; APPOINTMENT OF
SUCCESSOR.

 

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

 

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

 

28

 

(i) the
Trustee shall fail to comply with the provisions of Section 7.09 after
written request therefor by the Company or by any Securityholder who has been a
bona fide Holder of a Security or Securities for at least six months; or

 

(ii) the
Trustee shall cease to be eligible in accordance with the provisions of Section 7.10
and shall fail to resign after written request therefor by the Company or by
any such Securityholder; or

 

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

 

then, in any such case,
the Company may remove the Trustee with respect to all Securities and appoint a
successor trustee by written instrument, in duplicate, executed by order of the
Board of Directors, one copy of which instrument shall be delivered to the
Trustee so removed and one copy to the successor trustee, or, unless, in the
case of a failure to comply with Section 7.09, the Trustee’s duty to
resign is stayed as provided in the penultimate paragraph of Section 310(b) of
the Trust Indenture Act, any Securityholder who has been a bona fide Holder of
a Security or Securities for at least six months may, on behalf of that Holder
and all others similarly situated, petition any court of competent jurisdiction
for the removal of the Trustee and the appointment of a successor trustee. Such
court may thereupon after such notice, if any, as it may deem proper and
prescribe, remove the Trustee and appoint a successor trustee.

 

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

 

(d) Any
resignation or removal of the Trustee and appointment of a successor trustee
with respect to the Securities of a series pursuant to any of the provisions of
this Section shall become effective upon acceptance of appointment by the
successor trustee as provided in Section 7.12.

 

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

 

SECTION 7.12 ACCEPTANCE OF APPOINTMENT BY SUCCESSOR.

 

(a) In
case of the appointment hereunder of a successor trustee with respect to all
Securities, every such successor trustee so appointed shall execute,
acknowledge and deliver to the Company and to the retiring Trustee an
instrument accepting such appointment, and thereupon the resignation or removal
of the retiring Trustee shall become effective and such successor trustee,
without any further act, deed or conveyance, shall become vested with all the
rights, powers, trusts and duties of the retiring Trustee; but, on the request
of the Company or the successor trustee, such retiring Trustee shall, upon
payment of its charges, execute and deliver an instrument transferring to such
successor trustee all the rights, powers, and trusts of the retiring Trustee
and shall duly assign, transfer and deliver to such successor trustee all
property and money held by such retiring Trustee hereunder, subject nevertheless
to the lien provided for in Section 7.07.

 

(b) In
case of the appointment hereunder of a successor trustee with respect to the
Securities of one or more (but not all) series, the Company, the retiring
Trustee and each successor trustee with respect to the Securities of one or
more series shall execute and deliver an indenture supplemental hereto wherein
each successor trustee shall accept such appointment and which

 

29

 

(i) shall
contain such provisions as shall be necessary or desirable to transfer and
confirm to, and to vest in, each successor trustee all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of
that or those series to which the appointment of such successor trustee
relates,

 

(ii) shall
contain such provisions as shall be deemed necessary or desirable to confirm
that all the rights, powers, trusts and duties of the retiring Trustee with
respect to the Securities of that or those series as to which the retiring
Trustee is not retiring shall continue to be vested in the retiring Trustee,
and

 

(iii) shall
add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same
trust, that each such Trustee shall be trustee of a trust or trusts hereunder
separate and apart from any trust or trusts hereunder administered by any other
such Trustee and that no Trustee shall be responsible for any act or failure to
act on the part of any other Trustee hereunder; and upon the execution and
delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein, such
retiring Trustee shall with respect to the Securities of that or those series
to which the appointment of such successor trustee relates have no further
responsibility for the exercise of rights and powers or for the performance of
the duties and obligations vested in the Trustee under this Indenture, and each
such successor trustee, without any further act, deed or conveyance, shall
become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the
appointment of such successor trustee relates; but, on request of the Company
or any successor trustee, such retiring Trustee shall duly assign, transfer and
deliver to such successor trustee, to the extent contemplated by such
supplemental indenture, the property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the
appointment of such successor trustee relates, subject nevertheless to the lien
provided for in Section 7.07.

 

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

 

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

 

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

 

SECTION 7.13 MERGER, CONVERSION, CONSOLIDATION OR
SUCCESSION TO BUSINESS.

 

Any
Person into which the Trustee may be merged or converted or with which it may
be consolidated, or any Person resulting from any merger, conversion or
consolidation to which the Trustee shall be a party, or any Person succeeding
to all or substantially all of the corporate trust business of the Trustee,
shall be the successor of the Trustee hereunder, provided that such Person shall
be qualified under the provisions of Section 7.09 and eligible under the
provisions of Section 7.10, without the execution or filing of any paper
or any further act on the part of any of the parties hereto, anything herein to
the contrary notwithstanding. In case any Securities shall have been
authenticated, but not delivered, by the Trustee then in office, any successor
by merger, conversion or consolidation to such authenticating Trustee may adopt
such authentication and deliver the Securities so authenticated with the same
effect as if such successor Trustee had itself authenticated such Securities.

 

30

 

SECTION 7.14 PREFERENTIAL COLLECTION OF CLAIMS AGAINST
THE COMPANY.

 

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

 

ARTICLE VIII

CONCERNING THE SECURITYHOLDERS

 

SECTION 8.01 EVIDENCE OF ACTION BY SECURITYHOLDERS.

 

Whenever
in this Indenture it is provided that the Holders of a majority or specified
percentage in aggregate principal amount of the Securities of a particular
series may take any action (including the making of any demand or request, the
giving of any notice, consent or waiver or the taking of any other action), the
fact that at the time of taking any such action the Holders of such majority or
specified percentage of that series have joined therein may be evidenced by any
instrument or any number of instruments of similar tenor executed by such
Holders of Securities of that series in Person or by agent or proxy appointed
in writing. If the Company shall solicit from the Securityholders of any series
any request, demand, authorization, direction, notice, consent, waiver or other
action, the Company may, at its option, as evidenced by an Officers’
Certificate, fix in advance a record date for such series for the determination
of Securityholders entitled to give such request, demand, authorization,
direction, notice, consent, waiver or other action, but the Company shall have
no obligation to do so. If such a record date is fixed, such request, demand,
authorization, direction, notice, consent, waiver or other action may be given
before or after the record date, but only the Securityholders of record at the
close of business on the record date shall be deemed to be Securityholders for
the purposes of determining whether Securityholders of the requisite proportion
of Outstanding Securities of that series have authorized or agreed or consented
to such request, demand, authorization, direction, notice, consent, waiver or
other action, and for that purpose the Outstanding Securities of that series
shall be computed as of the record date; provided, however, that no such
authorization, agreement or consent by such Securityholders on the record date
shall be deemed effective unless it shall become effective pursuant to the
provisions of this Indenture not later than six months after the record date.

 

SECTION 8.02 PROOF OF EXECUTION BY SECURITYHOLDERS.

 

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

 

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

 

(b) The
ownership of Securities shall be proved by the Security Register of such
Securities or by a certificate of the Security Registrar thereof.

 

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

 

SECTION 8.03 WHO MAY BE DEEMED OWNERS.

 

Prior
to the due presentment for registration of transfer of any Security, the
Company, the Trustee, any paying agent and any Security Registrar may deem and
treat the Person in whose name such Security shall be registered upon the books
of the Company as the absolute owner of such Security (whether or not such
Security shall be overdue and notwithstanding any notice of ownership or
writing thereon made by

 

31

 

anyone other than the
Security Registrar) for the purpose of receiving payment of or on account of
the principal of (and premium, if any) and (subject to Section 2.03)
interest on such Security and for all other purposes; and neither the Company
nor the Trustee nor any paying agent nor any Security Registrar shall be
affected by any notice to the contrary.

 

SECTION 8.04 CERTAIN SECURITIES OWNED BY COMPANY
DISREGARDED.

 

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

 

SECTION 8.05 ACTIONS BINDING ON FUTURE SECURITYHOLDERS.

 

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

 

ARTICLE IX

SUPPLEMENTAL INDENTURES

 

SECTION 9.01 SUPPLEMENTAL INDENTURES WITHOUT THE CONSENT
OF SECURITYHOLDERS.

 

In
addition to any supplemental indenture otherwise authorized by this Indenture,
the Company and the Trustee may from time to time and at any time enter into an
indenture or indentures supplemental hereto (which shall conform to the
provisions of the Trust Indenture Act as then in effect), without the consent
of the Securityholders, for one or more of the following purposes:

 

(1) to
cure any ambiguity, defect, or inconsistency herein, in the Securities of any
series;

 

(2) to
comply with Article X;

 

32

 

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

 

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

 

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

 

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

 

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

 

(8) to
evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Securities of one or more series and to add to or
change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one
Trustee, pursuant to the requirements of Section 7.12.

 

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

 

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

 

SECTION 9.02 SUPPLEMENTAL INDENTURES WITH CONSENT OF
SECURITYHOLDERS.

 

With
the consent (evidenced as provided in Section 8.01) of the Holders of not
less than a majority in aggregate principal amount of the Securities of each
series affected by such supplemental indenture or indentures at the time
Outstanding, the Company, when authorized by a Board Resolution, and the
Trustee may from time to time and at any time enter into an indenture or
indentures supplemental hereto (which shall conform to the provisions of the
Trust Indenture Act as then in effect) for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this
Indenture or of any supplemental indenture or of modifying in any manner not
covered by Section 9.01 the rights of the Holders of the Securities of
such series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holders of each Security then
Outstanding and affected thereby:

 

(1) change
the maturity of the principal of, or any installment of principal of or
interest on, any Security, or reduce the principal amount thereof or the rate
of interest thereon or any premium payable upon the redemption thereof, or
reduce the amount of the principal of an Original Issue Discount Security or
any other Security which would be due and payable upon a declaration of
acceleration of the maturity thereof pursuant to Section 6.01 or change
the coin or currency in which any Security or any

 

33

 

premium or interest
thereon is payable, or impair the right to institute suit for the enforcement
of any such payment on or after the maturity thereof (or, in the case of
redemption, on or after the redemption date), or

 

(2) reduce
the percentage in principal amount of the Outstanding Securities of any series,
the consent of whose Holders is required for any such supplemental indenture,
or the consent of whose Holders is required for any waiver of certain defaults
hereunder and their consequences provided for in this Indenture, or

 

(3) modify
any of the provisions of this Section or Section 6.06 relating to
waivers of default, except to increase any such percentage or to provide that
certain other provisions of this Indenture cannot be modified or waived without
the consent of the Holder of each Outstanding Security affected thereby; provided,
however, that this clause shall not be deemed to require the consent of any
Holder with respect to changes in the references to “the Trustee” and
concomitant changes in this Section, or the deletion of this proviso, in
accordance with the requirements of Sections 7.12 and 9.01(8).

 

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 Securityholders of any series affected
thereby under this Section to approve the particular form of any proposed
supplemental indenture, but it shall be sufficient if such consent shall
approve the substance thereof.

 

SECTION 9.03 EFFECT OF SUPPLEMENTAL INDENTURES.

 

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

 

SECTION 9.04 SECURITIES AFFECTED BY SUPPLEMENTAL
INDENTURES.

 

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

 

SECTION 9.05 EXECUTION OF SUPPLEMENTAL INDENTURES.

 

Upon
the request of the Company, accompanied by its Board Resolutions authorizing
the execution of any supplemental indenture, and upon the filing with the
Trustee of evidence of any requisite consents of Securityholders required to
consent thereto as aforesaid, the Trustee shall join with the Company in the
execution of such supplemental indenture unless such supplemental indenture affects
the Trustee’s own rights, duties or immunities under this Indenture or
otherwise, in which case the Trustee may in its discretion but shall not be
obligated to enter into such supplemental indenture. The Trustee, subject to
the provisions of Section 7.01, shall be entitled to receive an Opinion of
Counsel as conclusive evidence that any supplemental indenture executed
pursuant to this Article is authorized or permitted by, and

 

34

 

conforms to, the terms of
this Article and that it is proper for the Trustee under the provisions of
this Article to join in the execution thereof.

 

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

 

ARTICLE X

SUCCESSOR ENTITY

 

SECTION 10.01 COMPANY MAY CONSOLIDATE, ETC.

 

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

 

SECTION 10.02 SUCCESSOR ENTITY SUBSTITUTED.

 

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

 

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

 

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

 

35

 

SECTION 10.03 EVIDENCE OF CONSOLIDATION, ETC. TO
TRUSTEE.

 

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

 

ARTICLE XI

SATISFACTION AND DISCHARGE; DEFEASANCE

 

SECTION 11.01 SATISFACTION AND DISCHARGE.

 

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

 

(1) either
(A) all Securities of that series theretofore authenticated and delivered
(other than (i) any Securities that shall have been destroyed, lost or
stolen and that shall have been replaced or paid as provided in Section 2.07
and (ii) Securities for whose payment money or noncallable Governmental
Obligations have 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 11.05) have been delivered to the
Trustee for cancellation; or (B) all Securities of such series not
theretofore delivered to the Trustee for cancellation (i) have become due
and payable, or (ii) will by their terms become due and payable 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, and the Company shall deposit or cause to be deposited with the
Trustee as trust funds in trust for the purpose (x) moneys in an amount,
or (y) noncallable Governmental Obligations the scheduled principal of and
interest on which in accordance with their terms will provide, not later than
the due date of any payment, money in an amount, or (z) a combination
thereof, sufficient, in the case of (y) or (z), in the opinion of a
nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, to pay and discharge,
at maturity or upon redemption, all Securities of that series not theretofore
delivered to the Trustee for cancellation, including principal (and premium, if
any) and interest due or to become due to such date of maturity or date fixed
for redemption, as the case may be;

 

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

 

(3) the
Company has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all the conditions precedent herein provided for
relating to the satisfaction and discharge of this Indenture with respect to
such series of Securities have been complied with. Notwithstanding the
satisfaction and discharge of this Indenture with respect to a series of
Securities, the obligations of the Trustee under Section 7.07 and, if
money shall have been deposited with the Trustee pursuant to subclause (y) of
clause (1) of this Section, the obligations of the Trustee under
Sections 11.03 and 11.05 shall survive.

 

SECTION 11.02 DEFEASANCE.

 

The
Company may, at its option and at any time (including notwithstanding the
exercise by the Company of a Covenant Defeasance (as defined herein)), elect to
have its obligations discharged with respect to a series of the Securities (“Legal
Defeasance”). Such Legal Defeasance means that the Company shall be deemed to
have paid and discharged the entire indebtedness represented by such series of
Securities, except for (a) the rights of Holders to receive payments in
respect of the principal of (and premium, if any) and interest on the
Securities when such payments are due solely from the trust fund described in
this Section, (b) the Company’s obligations with respect to such series of
Securities

 

36

 

concerning issuing
temporary Securities, registration of transfer or exchange of such series of
Securities, mutilated, destroyed, lost or stolen Securities of such series and
the maintenance of an office or agency for payments, (c) the rights,
powers, trust, duties and immunities of the Trustee and the Company’s
obligations in connection therewith and (d) the Legal Defeasance
provisions of this Indenture. In addition, the Company may, at its option and
at any time, elect to have the obligations of the Company released with respect
to covenants provided with respect to such series of Securities under Section 2.01(15),
9.01(4) and 9.01(7) of this Indenture (“Covenant Defeasance”) and
thereafter any omission to comply with such obligations shall not constitute a
Default or Event of Default with respect to such series of Securities. In the
event of Covenant Defeasance, those events described under Section 6.01(a) with
respect to the foregoing covenants will no longer constitute an Event of
Default with respect to such series of Securities.

 

In
order to exercise either Legal Defeasance or Covenant Defeasance:

 

(1) the
Company must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders of such series, (A) moneys in an amount, or (B) noncallable
Governmental Obligations the scheduled principal of and interest on which in
accordance with their terms will provide, not later than the due date of any
payment, money in an amount, or (C) a combination thereof, sufficient, in
the case of (B) or (C), in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof
delivered to the Trustee, to pay and discharge, at maturity or upon redemption,
the principal of (and premium, if any) and interest on such series of
Securities on the stated date for payment thereof or on the applicable
redemption date, as the case may be;

 

(2) in
the case of Legal Defeasance, the Company shall have delivered to the Trustee
an Opinion of Counsel confirming that (A) the Company has received from,
or there has been published by, the Internal Revenue Service a ruling or (B) since
the date of this Indenture, there has been a change in the applicable federal
income tax law, in either case to the effect that, and based thereon such
Opinion of Counsel shall confirm that, the Holders of such series of Securities
will not recognize income, gain or loss for federal income tax purposes as a
result of such Legal Defeasance and will be subject to federal income tax on
the same amounts, in the same manner and at the same times as would have been
the case if such Legal Defeasance had not occurred;

 

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

 

(4) no
Default or Event of Default shall have occurred and be continuing on the date
of such deposit or insofar as Events of Default under clauses (4) and (5) of
Section 6.01(a) with respect to the Securities of such series are
concerned, at any time in the period ending on the 91st day after the date of
deposit;

 

(5) the
Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for or
relating to the Legal Defeasance or the Covenant Defeasance, as the case may
be, have been complied with; and

 

(6) if
such series of Securities are to be redeemed prior to final maturity (other
than from mandatory sinking fund payments or analogous payments), notice of
such redemption shall have been duly given pursuant to this Indenture or
provision therefor satisfactory to the Trustee shall have been made.

 

SECTION 11.03 DEPOSITED MONEYS TO BE HELD IN TRUST.

 

All
moneys or Governmental Obligations deposited with the Trustee pursuant to
Sections 11.01 or 11.02 shall be held in trust and shall be available for
payment as due, either directly or through any paying

 

37

 

agent (including the
Company acting as its own paying agent), to the Holders of the particular
series of Securities for the payment or redemption of which such moneys or
Governmental Obligations have been deposited with the Trustee.

 

SECTION 11.04 PAYMENT OF MONEYS HELD BY PAYING AGENTS.

 

In
connection with the satisfaction and discharge of this Indenture all moneys or
Governmental Obligations then held by any paying agent under the provisions of
this Indenture shall, upon demand of the Company, be paid to the Trustee and
thereupon such paying agent shall be released from all further liability with
respect to such moneys or Governmental Obligations.

 

SECTION 11.05 REPAYMENT TO COMPANY.

 

Any
moneys or Governmental Obligations deposited with any paying agent or the
Trustee, or then held by the Company, in trust for payment of principal of (or
premium, if any) or interest on the Securities of a particular series that are
not applied but remain unclaimed by the Holders of such Securities for at least
two years after the date upon which the principal of (and premium, if any) or
interest on such Securities shall have respectively become due and payable,
shall be repaid to the Company on May 31 of each year or (if then held by
the Company) shall be discharged from such trust; and thereupon the paying
agent and the Trustee shall be released from all further liability with respect
to such moneys or Governmental Obligations, and the Holder of any of the
Securities entitled to receive such payment shall thereafter, as an unsecured
general creditor, look only to the Company for the payment thereof.

 

ARTICLE XII

IMMUNITY OF INCORPORATORS,

STOCKHOLDERS, OFFICERS AND DIRECTORS

 

SECTION 12.01 NO RECOURSE.

 

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

 

ARTICLE XIII

MISCELLANEOUS PROVISIONS

 

SECTION 13.01 EFFECT ON SUCCESSORS AND ASSIGNS.

 

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

 

38

 

SECTION 13.02 ACTIONS BY SUCCESSOR.

 

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

 

SECTION 13.03 SURRENDER OF COMPANY POWERS.

 

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

 

SECTION 13.04 NOTICES.

 

Except
as otherwise expressly provided herein, any notice or demand that by any
provision of this Indenture is required or permitted to be given or served by
the Trustee or by the Holders of Securities to or on the Company may be given
or served by being deposited first class postage prepaid in a post-office
letterbox addressed (until another address is filed in writing by the Company
with the Trustee), as follows: Attn: General Counsel, Stanley, Inc., 3101
Wilson Boulevard, Suite 700, Arlington, Virginia 22201. Any notice,
election, request or demand by the Company or any Securityholder to or upon the
Trustee shall be deemed to have been sufficiently given or made, for all
purposes, if given or made in writing at the Corporate Trust Office of the Trustee.

 

SECTION 13.05 GOVERNING LAW; WAIVER OF TRIAL BY JURY.

 

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

 

EACH PARTY HERETO, AND
EACH HOLDER OF A SECURITY BY ACCEPTANCE THEREOF, HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN RESPECT OF ANY LITIGATION RELATING TO THE TRUSTEE DIRECTLY OR INDIRECTLY
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS INDENTURE

 

SECTION 13.06 TREATMENT OF SECURITIES AS DEBT.

 

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

 

SECTION 13.07 COMPLIANCE CERTIFICATES AND OPINIONS.

 

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

 

(b) Each
certificate or opinion provided for in this Indenture and delivered to the
Trustee with respect to compliance with a condition or covenant in this
Indenture shall include

 

39

 

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

 

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

 

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

 

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

 

SECTION 13.08 PAYMENTS ON BUSINESS DAYS.

 

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

 

SECTION 13.09 CONFLICT WITH TRUST INDENTURE ACT.

 

If and
to the extent that any provision of this Indenture limits, qualifies or
conflicts with the duties imposed by Sections 310 to 317, inclusive, of
the Trust Indenture Act, such imposed duties shall control. If any provision of
this Indenture modifies or excludes any provision of the Trust Indenture Act
which may be so modified or excluded, the latter provision shall be deemed to
apply to this Indenture as so modified or to be excluded, as the case may be.

 

SECTION 13.10 COUNTERPARTS.

 

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

 

SECTION 13.11 SEPARABILITY.

 

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

 

SECTION 13.12 ASSIGNMENT.

 

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

 

40

 

SECTION 13.13 FORCE MAJEURE.

 

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

 

41

 

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

 

 

	
   

  	
  STANLEY, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [BANK], as
  Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

42EXHIBIT
4.5

	
   

  
	
   

  

 

 

STANLEY,
INC.

ISSUER

 

AND

 

[BANK]

TRUSTEE

 

 

INDENTURE

 

DATED
AS OF [·]

 

 

SUBORDINATED
DEBT SECURITIES

 

	
   

  
	
   

  

 

 

CROSS-REFERENCE
TABLE(1)

 

	
  Section of Trust Indenture Act of 1939, as Amended

  	
   

  	
  Indenture

  
	
  310(a)

  	
   

  	
  7.10

  
	
  310(b)

  	
   

  	
  7.09; 7.11

  
	
  310(c)

  	
   

  	
  Inapplicable

  
	
  311(a)

  	
   

  	
  7.14

  
	
  311(b)

  	
   

  	
  7.14

  
	
  311(c)

  	
   

  	
  Inapplicable

  
	
  312(a)

  	
   

  	
  5.02(a)

  
	
  312(b)

  	
   

  	
  5.02(c)

  
	
  312(c)

  	
   

  	
  Inapplicable

  
	
  313(a)

  	
   

  	
  5.04(a)

  
	
  313(b)

  	
   

  	
  5.04(b)

  
	
  313(c)

  	
   

  	
  5.04(a); 5.04(b)

  
	
  313(d)

  	
   

  	
  5.04(c)

  
	
  314(a)

  	
   

  	
  5.03; 4.06

  
	
  314(b)

  	
   

  	
  Inapplicable

  
	
  314(c)

  	
   

  	
  13.07

  
	
  314(d)

  	
   

  	
  Inapplicable

  
	
  314(e)

  	
   

  	
  13.07

  
	
  314(f)

  	
   

  	
  Inapplicable

  
	
  315(a)

  	
   

  	
  7.01(a); 7.03

  
	
  315(b)

  	
   

  	
  7.02

  
	
  315(c)

  	
   

  	
  7.01

  
	
  315(d)

  	
   

  	
  7.01(b)

  
	
  315(e)

  	
   

  	
  6.07; 7.07

  
	
  316(a)

  	
   

  	
  6.06; 8.04

  
	
  316(b)

  	
   

  	
  6.04

  
	
  316(c)

  	
   

  	
  8.01

  
	
  317(a)

  	
   

  	
  6.02

  
	
  317(b)

  	
   

  	
  4.03

  
	
  318(a)

  	
   

  	
  13.09

  

 

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

 

i

 

TABLE OF CONTENTS(2)

 

	
   

  	
  Page

  
	
   

  	
   

  
	
  RECITALS OF THE COMPANY

  	
  2

  
	
  ARTICLE I DEFINITIONS

  	
  2

  
	
  SECTION 1.01 DEFINITIONS OF TERMS

  	
  2

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

  	
  6

  
	
  SECTION 2.01 DESIGNATION AND TERMS OF
  SECURITIES

  	
  6

  
	
  SECTION 2.02 FORM OF SECURITIES
  AND TRUSTEE’S CERTIFICATE

  	
  8

  
	
  SECTION 2.03 DENOMINATIONS:
  PROVISIONS FOR PAYMENT

  	
  8

  
	
  SECTION 2.04 EXECUTION AND
  AUTHENTICATION

  	
  9

  
	
  SECTION 2.06 TEMPORARY SECURITIES

  	
  10

  
	
  SECTION 2.07 MUTILATED, DESTROYED,
  LOST OR STOLEN SECURITIES

  	
  11

  
	
  SECTION 2.08 CANCELLATION

  	
  11

  
	
  SECTION 2.09 BENEFITS OF INDENTURE

  	
  11

  
	
  SECTION 2.10 AUTHENTICATING AGENT

  	
  12

  
	
  SECTION 2.11 GLOBAL SECURITIES

  	
  12

  
	
  ARTICLE III REDEMPTION OF SECURITIES AND
  SINKING FUND PROVISIONS

  	
  14

  
	
  SECTION 3.01 REDEMPTION

  	
  14

  
	
  SECTION 3.02 NOTICE OF REDEMPTION

  	
  14

  
	
  SECTION 3.03 PAYMENT UPON REDEMPTION

  	
  15

  
	
  SECTION 3.04 SINKING FUND

  	
  15

  
	
  SECTION 3.05 SATISFACTION OF SINKING
  FUND PAYMENTS WITH SECURITIES

  	
  15

  
	
  SECTION 3.06 REDEMPTION OF SECURITIES
  FOR SINKING FUND

  	
  16

  
	
  ARTICLE IV COVENANTS

  	
  16

  
	
  SECTION 4.01 PAYMENT OF PRINCIPAL,
  PREMIUM AND INTEREST

  	
  16

  
	
  SECTION 4.02 MAINTENANCE OF OFFICE OR
  AGENCY

  	
  16

  
	
  SECTION 4.03 PAYING AGENTS

  	
  16

  
	
  SECTION 4.04 APPOINTMENT TO FILL
  VACANCY IN OFFICE OF TRUSTEE

  	
  17

  
	
  SECTION 4.05 COMPLIANCE WITH
  CONSOLIDATION PROVISIONS

  	
  17

  
	
  SECTION 4.06 STATEMENT BY OFFICERS AS
  TO DEFAULT

  	
  18

  
	
  ARTICLE V SECURITYHOLDERS’ LISTS AND
  REPORTS BY THE COMPANY AND THE TRUSTEE

  	
  18

  
	
  SECTION 5.01 COMPANY TO FURNISH
  TRUSTEE NAMES AND ADDRESSES OF SECURITYHOLDERS

  	
  18

  
	
  SECTION 5.02 PRESERVATION OF
  INFORMATION; COMMUNICATIONS WITH SECURITYHOLDERS

  	
  18

  
	
  SECTION 5.03 REPORTS BY THE COMPANY

  	
  18

  
	
  SECTION 5.04 REPORTS BY THE TRUSTEE

  	
  19

  
	
  ARTICLE VI REMEDIES OF THE TRUSTEE AND
  SECURITYHOLDERS ON EVENT OF DEFAULT

  	
  19

  
	
  SECTION 6.01 EVENTS OF DEFAULT

  	
  19

  
	
  SECTION 6.02 COLLECTION OF
  INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE

  	
  21

  
	
  SECTION 6.03 APPLICATION OF MONEYS
  COLLECTED

  	
  22

  
	
  SECTION 6.04 LIMITATION ON SUITS

  	
  22

  
	
  SECTION 6.05 RIGHTS AND REMEDIES
  CUMULATIVE; DELAY OR OMISSION NOT WAIVER

  	
  23

  
	
  SECTION 6.06 CONTROL BY
  SECURITYHOLDERS

  	
  23

  
	
  SECTION 6.07 UNDERTAKING TO PAY COSTS

  	
  24

  

 

(2) Note:  This Table of
Contents shall not, for any purpose, be deemed to be part of the Indenture.

 

ii

 

	
  ARTICLE VII CONCERNING THE TRUSTEE

  	
  24

  
	
  SECTION 7.01 CERTAIN DUTIES AND
  RESPONSIBILITIES OF TRUSTEE

  	
  24

  
	
  SECTION 7.02 NOTICE OF DEFAULTS

  	
  25

  
	
  SECTION 7.03 CERTAIN RIGHTS OF
  TRUSTEE

  	
  25

  
	
  SECTION 7.04 TRUSTEE NOT RESPONSIBLE
  FOR RECITALS OR ISSUANCE OR SECURITIES

  	
  27

  
	
  SECTION 7.05 MAY HOLD SECURITIES

  	
  27

  
	
  SECTION 7.06 MONEYS HELD IN TRUST

  	
  27

  
	
  SECTION 7.07 COMPENSATION AND
  REIMBURSEMENT

  	
  27

  
	
  SECTION 7.08 RELIANCE ON OFFICERS’
  CERTIFICATE

  	
  28

  
	
  SECTION 7.09 DISQUALIFICATION;
  CONFLICTING INTERESTS

  	
  28

  
	
  SECTION 7.10 CORPORATE TRUSTEE
  REQUIRED; ELIGIBILITY

  	
  28

  
	
  SECTION 7.11 RESIGNATION AND REMOVAL;
  APPOINTMENT OF SUCCESSOR

  	
  29

  
	
  SECTION 7.12 ACCEPTANCE OF
  APPOINTMENT BY SUCCESSOR

  	
  30

  
	
  SECTION 7.13 MERGER, CONVERSION,
  CONSOLIDATION OR SUCCESSION TO BUSINESS

  	
  31

  
	
  SECTION 7.14 PREFERENTIAL COLLECTION
  OF CLAIMS AGAINST THE COMPANY

  	
  31

  
	
  ARTICLE VIII CONCERNING THE SECURITYHOLDERS

  	
  31

  
	
  SECTION 8.01 EVIDENCE OF ACTION BY
  SECURITYHOLDERS

  	
  31

  
	
  SECTION 8.02 PROOF OF EXECUTION BY
  SECURITYHOLDERS

  	
  31

  
	
  SECTION 8.03 WHO MAY BE DEEMED
  OWNERS

  	
  32

  
	
  SECTION 8.04 CERTAIN SECURITIES OWNED
  BY COMPANY DISREGARDED

  	
  32

  
	
  SECTION 8.05 ACTIONS BINDING ON
  FUTURE SECURITYHOLDERS

  	
  32

  
	
  ARTICLE IX SUPPLEMENTAL INDENTURES

  	
  33

  
	
  SECTION 9.01 SUPPLEMENTAL INDENTURES
  WITHOUT THE CONSENT OF SECURITYHOLDERS

  	
  33

  
	
  SECTION 9.02 SUPPLEMENTAL INDENTURES
  WITH CONSENT OF SECURITYHOLDERS

  	
  34

  
	
  SECTION 9.03 EFFECT OF SUPPLEMENTAL
  INDENTURES

  	
  34

  
	
  SECTION 9.04 SECURITIES AFFECTED BY
  SUPPLEMENTAL INDENTURES

  	
  35

  
	
  SECTION 9.05 EXECUTION OF
  SUPPLEMENTAL INDENTURES

  	
  35

  
	
  ARTICLE X SUCCESSOR ENTITY

  	
  35

  
	
  SECTION 10.01 COMPANY
  MAY CONSOLIDATE, ETC.

  	
  35

  
	
  SECTION 10.02 SUCCESSOR ENTITY SUBSTITUTED

  	
  36

  
	
  SECTION 10.03 EVIDENCE OF
  CONSOLIDATION, ETC. TO TRUSTEE

  	
  36

  
	
  ARTICLE XI SATISFACTION AND DISCHARGE;
  DEFEASANCE

  	
  36

  
	
  SECTION 11.01 SATISFACTION AND
  DISCHARGE

  	
  36

  
	
  SECTION 11.02 DEFEASANCE

  	
  37

  
	
  SECTION 11.03 DEPOSITED MONEYS TO BE
  HELD IN TRUST

  	
  38

  
	
  SECTION 11.04 PAYMENT OF MONEYS HELD
  BY PAYING AGENTS

  	
  38

  
	
  SECTION 11.05 REPAYMENT TO COMPANY

  	
  38

  
	
  ARTICLE XII IMMUNITY OF INCORPORATORS,
  STOCKHOLDERS, OFFICERS AND DIRECTORS

  	
  39

  
	
  SECTION 12.01 NO RECOURSE

  	
  39

  
	
  ARTICLE XIII MISCELLANEOUS PROVISIONS

  	
  39

  
	
  SECTION 13.01 EFFECT ON SUCCESSORS
  AND ASSIGNS

  	
  39

  
	
  SECTION 13.02 ACTIONS BY SUCCESSOR

  	
  39

  
	
  SECTION 13.03 SURRENDER OF COMPANY
  POWERS

  	
  39

  
	
  SECTION 13.04 NOTICES

  	
  39

  
	
  SECTION 13.05 GOVERNING LAW; WAIVER
  OF TRIAL BY JURY

  	
  40

  
	
  SECTION 13.06 TREATMENT OF SECURITIES
  AS DEBT

  	
  40

  
	
  SECTION 13.07 COMPLIANCE CERTIFICATES
  AND OPINIONS

  	
  40

  
	
  SECTION 13.08 PAYMENTS ON BUSINESS
  DAYS

  	
  40

  
	
  SECTION 13.09 CONFLICT WITH TRUST
  INDENTURE ACT

  	
  41

  
	
  SECTION 13.10 COUNTERPARTS

  	
  41

  

 

iii

 

	
  SECTION 13.11 SEPARABILITY

  	
  41

  
	
  SECTION 13.12 ASSIGNMENT

  	
  41

  

 

iv

 

INDENTURE, dated as of
[ ·],
between Stanley, Inc., a Delaware corporation (the “Company”), and [Bank],
a [·]
banking corporation, as trustee (the “Trustee”):

 

RECITALS OF THE COMPANY

 

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

 

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

 

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

 

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

 

ARTICLE I

DEFINITIONS

 

SECTION 1.01
DEFINITIONS OF TERMS.

 

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

 

“ARTICLE”, “SECTION” or
other subdivisions refer to Articles, Sections or other subdivisions of this
Indenture.

 

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

 

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

 

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

 

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

 

2

 

“BUSINESS DAY” means,
with respect to any series of Securities, any day other than a Saturday or
Sunday, or a day on which federal or state banking institutions in the Borough
of Manhattan, The City of New York, are authorized or obligated by law,
executive order or regulation to close.

 

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

 

“COMMISSION” means the
Securities and Exchange Commission.

 

“COMPANY” means Stanley, Inc.,
a corporation duly organized and existing under the laws of the State of
Delaware, and, subject to the provisions of Article X, shall also include
its successors and assigns.

 

“CORPORATE TRUST OFFICE”
means the office of the Trustee at which, at any particular time, its corporate
trust business shall be principally administered, which office at the date
hereof is located at [·].

 

“COVENANT DEFEASANCE” has
the meaning given in Section 11.02.

 

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

 

“DEFAULT” means any
event, act or condition that with notice or lapse of time, or both, would
constitute an Event of Default.

 

“DEFAULTED INTEREST” has
the meaning given in Section 2.03.

 

“DEPOSITARY” means, with
respect to Securities of any series, for which the Company shall determine that
such Securities will be issued as a Global Security, The Depository Trust
Company, New York, New York, another clearing agency, or any successor
registered as a clearing agency under the Securities and Exchange Act of 1934,
as amended (the “Exchange Act”), or other applicable statute or regulation,
which, in each case, shall be designated by the Company pursuant to either Section 2.01
or 2.11.

 

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

 

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

 

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

 

“GOVERNMENTAL OBLIGATIONS”
means securities that are (i) direct obligations of the United States of
America for the payment of which its full faith and credit is pledged or (ii) obligations
of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America, the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United
States of America that, in either case, are not callable or redeemable at the
option of the issuer thereof, and shall also include a depositary receipt
issued by a bank (as defined in Section 3(a)(2) of the Securities
Act) as custodian with respect to any such Governmental Obligation or a
specific payment of principal of or interest on any such Governmental
Obligation held by such custodian for the account of the Holder of such
depositary receipt; provided, however, that (except as required by law) such
custodian is not authorized to make any deduction from the amount payable to
the Holder of such depositary receipt from 

 

3

 

any amount received by
the custodian in respect of the Governmental Obligation or the specific payment
of principal of or interest on the Governmental Obligation evidenced by such
depositary receipt.

 

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

 

“INCLUDING”, unless the
context requires otherwise, means including without limitation.

 

“INDENTURE” means this
instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into in accordance with the terms hereof, including, for all purposes of this
instrument and any such supplemental indenture, the provisions of the Trust
Indenture Act that are deemed to be a part of and govern this instrument and
any such supplemental indenture, respectively. The term “Indenture” shall also
include the terms of particular series of Securities established as
contemplated by Section 2.01.

 

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

 

“LEGAL DEFEASANCE” has
the meaning given in Section 11.02.

 

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

 

“OPINION OF COUNSEL”
means an opinion in writing of legal counsel acceptable to the Trustee, who may
be an employee of or counsel for the Company that is delivered to the Trustee
in accordance with the terms hereof. Each such opinion shall include the
statements provided for in Section 13.07, if and to the extent required by
the provisions thereof.

 

“ORIGINAL ISSUE 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 6.01.

 

“OUTSTANDING”, when used
with reference to Securities of any series, means, subject to the provisions of
Section 8.04, as of any particular time, all Securities of that series
theretofore authenticated and delivered by the Trustee under this Indenture,
except (a) Securities theretofore canceled by the Trustee or any paying
agent, or delivered to the Trustee or any paying agent for cancellation or that
have previously been canceled; (b) Securities or portions thereof for the
payment or redemption of which moneys or Governmental Obligations in the
necessary amount shall have been deposited in trust with the Trustee or with
any paying agent (other than the Company) or shall have been set aside and
segregated in trust by the Company (if the Company shall act as its own paying
agent); provided, however, that if such Securities or portions of such
Securities are to be redeemed prior to the maturity thereof, notice of such
redemption shall have been given as in Article III; or provision
satisfactory to the Trustee shall have been made for giving such notice; and (c) Securities
in lieu of or in substitution for which other Securities shall have been
authenticated and delivered pursuant to the terms of Section 2.07;
provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given, made or taken any
request, demand, authorization, direction, notice, consent, waiver or other
action hereunder as of any date, the principal amount of an Original Issue
Discount Security which shall be deemed to be Outstanding shall be the amount
of the principal thereof which would be due and payable as of such date upon
acceleration of the maturity thereof to such date pursuant to Section 6.01.

 

4

 

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

 

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

 

“RESPONSIBLE OFFICER” or “responsible
officer” when used with respect to the Trustee means  any officer assigned to the Corporate Trust
Division — Corporate Finance Unit (or any successor division or unit) of the
Trustee located at the Corporate Trust Office of the Trustee, who shall have
direct responsibility for the administration of this Indenture, and for the
purposes of Section 7.01(b)(ii) and Section 315(b) of the
Trust Indenture Act shall also include any other officer of the Trustee to whom
any corporate trust matter is referred because of his or her knowledge of and
familiarity with the particular subject.

 

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

 

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

 

“SECURITYHOLDER”, “HOLDER
of SECURITIES”, “REGISTERED HOLDER”, “HOLDER”, or other similar term, means the
Person or Persons in whose name or names a particular Security shall be
registered on the books of the Company kept for that purpose in accordance with
the terms of this Indenture.

 

“SECURITY REGISTER” has
the meaning given in Section 2.05.

 

“SECURITY REGISTRAR” has
the meaning given in Section 2.05.

 

“SENIOR INDEBTEDNESS”
means the principal of (and premium, if any) and interest (including any
interest accruing subsequent to the filing of a petition of bankruptcy at the
rate provided for in the documentation with respect thereto, whether or not
such interest is an allowed claim under applicable law) on any indebtedness of
the Company, incurred or assumed, unless, in the case of any particular
indebtedness, the instrument creating or evidencing the same or pursuant to
which the same is outstanding expressly provides that such indebtedness shall
not be senior in right of payment to the Securities. Notwithstanding the
foregoing, “SENIOR INDEBTEDNESS” shall not include (i) any indebtedness of
the Company to a Subsidiary of the Company or any Affiliate of the Company or
any of such Affiliate’s Subsidiaries, (ii) indebtedness to, or guaranteed
on behalf of, any shareholder, director, officer or employee of the Company or
any Subsidiary of the Company (including, without limitation, amounts owed for
compensation), (iii) indebtedness to trade creditors and other amounts
incurred in connection with obtaining goods, materials or services, (iv) any
liability for federal, state, local or other taxes owed or owing by the
Company, (v) that portion of any indebtedness incurred in violation of an
incurrence test applicable to a series of the Securities, (vi) that
portion of any indebtedness which, when incurred and without respect to any
election under Section 1111(b) of Title 11, United States Code, is without
recourse to the Company and (vii) that portion of any indebtedness which
is, by its express terms, subordinated in right of payment to the Securities.

 

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

 

5

 

its Subsidiaries, or by
such Person and one or more of its Subsidiaries and (iii) any limited
partnership of which such Person or any of its Subsidiaries is a general
partner.

 

“TRUSTEE” means [Bank]
and, subject to the provisions of Article VII, shall also include its
successors and assigns, and, if at any time there is more than one Person
acting in such capacity hereunder, “Trustee” shall mean each such Person. The
term “Trustee” as used with respect to a particular series of the Securities
shall mean the trustee with respect to that series.

 

“TRUST INDENTURE ACT”
means the Trust Indenture Act of 1939, as amended, subject to the provisions of
Sections 9.01, 9.02, and 10.01, as in effect at the date of execution of this
instrument.

 

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

 

ARTICLE II

ISSUE, DESCRIPTION, TERMS, EXECUTION,

REGISTRATION AND EXCHANGE OF SECURITIES

 

SECTION 2.01
DESIGNATION AND TERMS OF SECURITIES.

 

The aggregate principal
amount of Securities that may be authenticated and delivered under this
Indenture is unlimited. The Securities may be issued in one or more series up
to the aggregate principal amount, if any, of Securities of that series from
time to time authorized by or pursuant to a Board Resolution or pursuant to one
or more indentures supplemental hereto. Prior to the initial issuance of
Securities of any series, there shall be established in or pursuant to a Board
Resolution, and set forth in an Officers’ Certificate, or established in one or
more indentures supplemental hereto:

 

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

 

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

 

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

 

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

 

(5) the date or
dates from which such interest shall accrue, the Interest Payment Dates on
which such interest will be payable or the manner of determination of such
Interest Payment Dates, the place(s) of payment, and the record date or
other method for the determination of Holders to whom interest is payable on
any such Interest Payment Dates;

 

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

 

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

 

6

 

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

 

(9) any additional
or different subordination terms applicable to the Securities of the series;

 

(10) the form of the
Securities of the series, including the form of the Trustee’s certificate of
authentication for such series;

 

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

 

(12) any and all
other terms with respect to such series (which terms shall not be inconsistent
with the terms of this Indenture;

 

(13) whether the
Securities of the series are issuable as a Global Security and, in such case,
the identity of the Depositary for such series and any other or different terms
in respect of such Global Security;

 

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

 

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

 

(16) any additional
or different Events of Default or restrictive covenants provided for with
respect to the Securities of the series;

 

(17) if applicable,
that the Securities of the series, in whole or in specified part, shall be
defeasible pursuant to Section 11.02 and, if other than by a Board Resolution,
the manner in which any election by the Company to defease such Securities
shall be evidenced;

 

(18) the terms, if any,
of the transfer, mortgage, pledge or assignment as security for the Securities
of such series of any properties, assets, moneys, proceeds, securities or other
collateral, including whether certain provisions of the Trust Indenture Act are
applicable and any corresponding changes to provisions of the applicable
indenture as then in effect and including provisions addressing priority,
perfection and escrow arrangements related to the security interest; and

 

(19) if other than
the currency of the United States of America, the currency, currencies or
currency units in which the principal of or any premium or interest on any
Securities of the series shall be payable and the manner of determining the
equivalent thereof in the currency of the United States of America for any
purpose, including for purposes of the definition of “Outstanding” in Section 1.01.
All Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to any such
Board Resolution or in any indentures supplemental hereto. If any of the terms
of the series are established by action taken pursuant to a Board Resolution, a
copy of an appropriate record of such action shall be certified by the
Secretary or an Assistant Secretary of the Company and delivered to the Trustee
at or prior to the delivery of the Officers’ Certificate setting forth the
terms of the series. Securities of any particular series may be issued at
various times, with different dates on which the principal or any installment
of principal is payable, with different rates of interest, if any, or different
methods by which rates of interest may be determined, with different dates on
which such 

 

7

 

interest may be payable
and with different redemption dates. Notwithstanding Section 2.01(2) and
unless otherwise expressly provided with respect to a series of Securities, the
aggregate principal amount of a series of Securities may be increased and
additional Securities of such series may be issued up to the maximum aggregate
principal amount authorized with respect to such series as increased.

 

SECTION 2.02
FORM OF SECURITIES AND TRUSTEE’S CERTIFICATE.

 

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

 

SECTION 2.03
DENOMINATIONS: PROVISIONS FOR PAYMENT.

 

The Securities shall be
issuable as registered Securities and in the denominations of one thousand U.S.
dollars ($1,000) or any integral multiple thereof, subject to Section 2.01(11).
The Securities of a particular series shall bear interest payable on the dates
and at the rates specified or provided for with respect to that series. Except
as contemplated by Section 2.01(18), the principal of and the interest on
the Securities of any series, as well as any premium thereon in case of
redemption thereof prior to maturity, shall be payable in the coin or currency
of the United States of America that at the time is legal tender for public and
private debt, at the office or agency of the Company maintained for that
purpose in the Borough of Manhattan, the City and State of New York; provided,
however, that at the option of the Company payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address
shall appear in the Security Register. Each Security shall be dated the date of
its authentication by the Trustee. Except as contemplated by Section 2.01(4),
interest on the Securities shall be computed on the basis of a 360-day year
composed of twelve 30-day months. Except as contemplated by Section 2.01(5),
the interest installment on any Security that is payable, and is punctually
paid or duly provided for, on any Interest Payment Date for Securities of that
series shall be paid to the Person in whose name said Security (or one or more
Predecessor Securities) is registered at the close of business on the regular
record date for such interest installment. In the event that any Security of a
particular series or portion thereof is called for redemption and the redemption
date is subsequent to a regular record date with respect to any Interest
Payment Date and prior to such Interest Payment Date, interest on such Security
will be paid upon presentation and surrender of such Security as provided in Section 3.03.
Any interest on any Security that is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date for Securities of the same
series (herein called “Defaulted Interest”) shall forthwith cease to be payable
to the registered Holder on the relevant regular record date by virtue of
having been such Holder; and such Defaulted Interest shall be paid by the
Company, at its election, as provided in clause (1) or clause (2) below:

 

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

 

8

 

proposed payment of such
Defaulted Interest and the special record date therefor to be mailed, first
class postage prepaid, to each Securityholder at his or her address as it
appears in the Security Register (as hereinafter defined), not less than 10
days prior to such special record date. Notice of the proposed payment of such
Defaulted Interest and the special record date therefor having been mailed as
aforesaid, such Defaulted Interest shall be paid to the Persons in whose names
such Securities (or their respective Predecessor Securities) are registered on
such special record date.

 

(2) The Company may
make payment of any Defaulted Interest on any Securities in any other lawful
manner not inconsistent with the requirements of any securities exchange on
which such Securities may be listed, and upon such notice as may be required by
such exchange, if, after notice given by the Company to the Trustee of the
proposed payment pursuant to this clause, such manner of payment shall be
deemed practicable by the Trustee. Unless otherwise set forth in a Board
Resolution or one or more indentures supplemental hereto establishing the terms
of any series of Securities pursuant to Section 2.01 hereof, the term “regular
record date” as used in this Section with respect to a series of
Securities with respect to any Interest Payment Date for such series shall mean
either the fifteenth day of the month immediately preceding the month in which
an Interest Payment Date established for such series pursuant to Section 2.01
hereof shall occur, if such Interest Payment Date is the first day of a month,
or the last day of the month immediately preceding the month in which an
Interest Payment Date established for such series pursuant to Section 2.01
hereof shall occur, if such Interest Payment Date is the fifteenth day of a
month, whether or not such date is a Business Day. Subject to the foregoing
provisions of this Section, each Security of a series delivered under this Indenture
upon transfer of or in exchange for or in lieu of any other Security of such
series shall carry the rights to interest accrued and unpaid, and to accrue,
that were carried by such other Security.

 

SECTION 2.04
EXECUTION AND AUTHENTICATION.

 

The Securities
shall be signed on behalf of the Company by its President, or one of its Vice
Presidents, or its Treasurer, or one of its Assistant Treasurers, attested by
its Secretary or one of its Assistant Secretaries. Signatures may be in the
form of a manual or facsimile signature. The Company may use the facsimile
signature of any Person who shall have been a President or Vice President
thereof, or of any Person who shall have been the Treasurer, an Assistant
Treasurer, the Secretary or an Assistant Secretary thereof, notwithstanding the
fact that at the time the Securities shall be authenticated and delivered or
disposed of such Person shall have ceased to be the President or a Vice
President, or the Treasurer, an Assistant Treasurer, the Secretary or an Assistant
Secretary, of the Company. The Securities may contain such notations, legends
or endorsements required by law, stock exchange rule or usage. A Security
shall not be valid until authenticated manually by an authorized signatory of
the Trustee, or by an Authenticating Agent. Such signature shall be conclusive
evidence and the only evidence that the Security so authenticated has been duly
authenticated and delivered hereunder and that the Holder is entitled to the
benefits of this Indenture. At any time and from time to time after the
execution and delivery of this Indenture, the Company may deliver Securities of
any series executed by the Company to the Trustee for authentication, together
with a written order of the Company for the authentication and delivery of such
Securities, signed by its President or any Vice President and its Secretary or
any Assistant Secretary, and the Trustee in accordance with such written order
shall authenticate and deliver such Securities. In authenticating such
Securities and accepting the additional responsibilities under this Indenture
in relation to such Securities, the Trustee shall be entitled to receive, and
(subject to Section 7.01) shall be fully protected in relying upon, an
Opinion of Counsel stating that the form and terms thereof have been
established in conformity with the provisions of this Indenture and that such
Securities, when authenticated and delivered by the Trustee and issued by the
Company in the manner and subject to any conditions specified in such Opinion
of Counsel, will constitute valid and legally binding obligations of the
Company enforceable in accordance with their terms, subject to any Bankruptcy
Law or other insolvency, fraudulent transfer, reorganization, moratorium and
similar laws of general applicability relating to or affecting creditors’
rights and to general equity principles and to other customary exceptions. The
Trustee shall not be required to authenticate such Securities if the issue of
such Securities pursuant to this Indenture will 

 

9

 

affect the Trustee’s own
rights, duties or immunities under the Securities and this Indenture or
otherwise in a manner that is not reasonably acceptable to the Trustee.

 

SECTION 2.05
REGISTRATION OF TRANSFER AND EXCHANGE.

 

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

 

(b) The Company
shall keep, or cause to be kept, at its office or agency designated for such
purpose in the Borough of Manhattan, the City and State of New York, or such
other location designated by the Company a register or registers (herein
referred to as the “Security Register”) in which, subject to such reasonable
regulations as it may prescribe, the Company shall register the Securities and
the transfers of Securities as in this Article provided and which at all
reasonable times shall be open for inspection by the Trustee. The registrar for
the purpose of registering Securities and transfer of Securities as herein
provided shall be appointed as authorized by Board Resolution (the “Security
Registrar”). Upon surrender for transfer of any Security at the office or
agency of the Company designated for such purpose, the Company shall execute,
the Trustee shall authenticate and such office or agency shall deliver in the
name of the transferee or transferees a new Security or Securities of the same
series as the Security presented for a like aggregate principal amount. All
Securities presented or surrendered for exchange or registration of transfer,
as provided in this Section, shall be accompanied (if so required by the
Company or the Security Registrar) by a written instrument or instruments of
transfer, in form satisfactory to the Company or the Security Registrar, duly
executed by the registered Holder or by such Holder’s duly authorized attorney
in writing.

 

(c) No service
charge shall be made for any exchange or registration of transfer of
Securities, or issue of new Securities in case of partial redemption of any
series, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge in relation thereto, other than exchanges
pursuant to Section 2.06, Section 3.03(b) and Section 9.04 not involving
any transfer. The Company shall not be required (i) to issue, exchange or
register the transfer of any Securities during a period beginning at the
opening of business 15 days before the day of the mailing of a notice of
redemption of less than all the Outstanding Securities of the same series and
ending at the close of business on the day of such mailing, nor (ii) to
register the transfer of or exchange any Securities of any series or portions
thereof called for redemption. The provisions of this Section 2.05 are, with
respect to any Global Security, subject to Section 2.11 hereof.

 

SECTION 2.06
TEMPORARY SECURITIES.

 

Pending the preparation
of definitive Securities of any series, the Company may execute, and the
Trustee shall authenticate and deliver, temporary Securities (printed,
lithographed or typewritten) of any authorized denomination. Such temporary
Securities shall be substantially in the form of the definitive Securities in
lieu of which they are issued, but with such omissions, insertions and
variations as may be appropriate for temporary Securities, all as may be
determined by the Company. Every temporary Security of any series shall be
executed by the Company and be authenticated by the Trustee upon the same
conditions and in substantially the same manner, and with like effect, as the
definitive Securities of such series. Without unnecessary delay the Company
will execute and will furnish definitive Securities of such series and
thereupon any or all temporary Securities of such series may be surrendered in
exchange therefor (without charge to the Holders), at the office or agency of
the Company designated for the purpose in the Borough of Manhattan, the City
and State of New York, and the Trustee shall authenticate and such office or
agency shall deliver in exchange for such temporary Securities an equal
aggregate principal amount of definitive Securities of such series, unless the
Company advises the Trustee to the effect that definitive

 

10

 

Securities need not be
executed and furnished until further notice from the Company. Until so
exchanged, the temporary Securities of such series shall be entitled to the
same benefits under this Indenture as definitive Securities of such series
authenticated and delivered hereunder.

 

SECTION 2.07
MUTILATED, DESTROYED, LOST OR STOLEN SECURITIES.

 

In case any temporary or
definitive Security shall become mutilated or be destroyed, lost or stolen, the
Company (subject to the next succeeding sentence) shall execute, and upon the
Company’s request the Trustee (subject as aforesaid) shall authenticate and
deliver, a new Security of the same series, bearing a number not
contemporaneously outstanding, in exchange and substitution for the mutilated
Security, or in lieu of and in substitution for the Security so destroyed, lost
or stolen. In every case the applicant for a substituted Security shall furnish
to the Company and the Trustee such security or indemnity as may be required by
them to save each of them harmless, and, in every case of destruction, loss or
theft, the applicant shall also furnish to the Company and the Trustee evidence
to their satisfaction of the destruction, loss or theft of the applicant’s
Security and of the ownership thereof. The Trustee may authenticate any such
substituted Security and deliver the same upon the written request or
authorization of any officer of the Company. Upon the issuance of any
substituted Security, the Company may require the payment of a sum sufficient
to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Trustee)
connected therewith. In case any Security that has matured or is about to
mature shall become mutilated or be destroyed, lost or stolen, the Company may,
instead of issuing a substitute Security, pay or authorize the payment of the
same (without surrender thereof except in the case of a mutilated Security) if
the applicant for such payment shall furnish to the Company and the Trustee
such security or indemnity as they may require to save them harmless, and, in
case of destruction, loss or theft, evidence to the satisfaction of the Company
and the Trustee of the destruction, loss or theft of such Security and of the ownership
thereof. Every replacement Security issued pursuant to the provisions of this Section shall
constitute an additional contractual obligation of the Company whether or not
the mutilated, destroyed, lost or stolen Security shall be found at any time, or
be enforceable by anyone, and shall be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Securities of the
same series duly issued hereunder. All Securities shall be held and owned upon
the express condition that the foregoing provisions are exclusive with respect
to the replacement or payment of mutilated, destroyed, lost or stolen
Securities, and shall preclude (to the extent lawful) any and all other rights
or remedies, notwithstanding any law or statute existing or hereafter enacted
to the contrary with respect to the replacement or payment of negotiable
instruments or other securities without their surrender.

 

SECTION 2.08
CANCELLATION.

 

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

 

SECTION 2.09
BENEFITS OF INDENTURE.

 

Nothing in this Indenture
or in the Securities, express or implied, shall give or be construed to give to
any Person, other than the parties hereto and the Holders of the Securities
(and, with respect to the provisions of Article XIV, the holders of Senior
Indebtedness) any legal or equitable right, remedy or claim under or in respect
of this Indenture, or under any covenant, condition or provision herein
contained; all

 

11

 

such covenants,
conditions and provisions being for the sole benefit of the parties hereto and
of the Holders of the Securities (and, with respect to the provisions of Article XIV,
the holder of Senior Indebtedness).

 

SECTION 2.10 AUTHENTICATING
AGENT.

 

So long as any of the
Securities of any series remain Outstanding there may be an Authenticating
Agent for any or all such series of Securities which the Trustee shall have the
right to appoint. Said Authenticating Agent shall be authorized to act on
behalf of the Trustee to authenticate Securities of such series issued upon
exchange, transfer or partial redemption thereof, and Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be
valid and obligatory for all purposes as if authenticated by the Trustee
hereunder. All references in this Indenture to the authentication of Securities
by the Trustee shall be deemed to include authentication by an Authenticating
Agent for such series. Each Authenticating Agent shall be acceptable to the
Company and shall be a corporation that has a combined capital and surplus, as
most recently reported or determined by it, sufficient under the laws of any
jurisdiction under which it is organized or in which it is doing business to
conduct a trust business, and that is otherwise authorized under such laws to
conduct such business and is subject to supervision or examination by federal
or state authorities. If at any time any Authenticating Agent shall cease to be
eligible in accordance with these provisions, it shall resign immediately. Any
Authenticating Agent may at any time resign by giving written notice of
resignation to the Trustee and to the Company. The Trustee may at any time (and
upon request by the Company shall) terminate the agency of any Authenticating
Agent by giving written notice of termination to such Authenticating Agent and to
the Company. Upon resignation, termination or cessation of eligibility of any
Authenticating Agent, the Trustee may appoint an eligible successor
Authenticating Agent acceptable to the Company. Any successor Authenticating
Agent, upon acceptance of its appointment hereunder, shall become vested with
all the rights, powers and duties of its predecessor hereunder as if originally
named as an Authenticating Agent pursuant hereto. Any corporation into which an
Authenticating Agent may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which such Authenticating Agent shall be a party, or any
corporation succeeding to the corporate agency or corporate trust business of
an Authenticating Agent, shall continue to be an Authenticating Agent, provided
that such corporation shall be otherwise eligible under this Section, without
the execution or filing of any paper or any further act on the part of the
Trustee or the Authenticating Agent.

 

SECTION 2.11
GLOBAL SECURITIES.

 

(a) If the Company
shall establish pursuant to Section 2.01 that the Securities of a
particular series are to be issued as a Global Security, then the Company shall
execute and the Trustee shall, in accordance with Section 2.04,
authenticate and deliver, a Global Security that

 

(1) shall represent,
and shall be denominated in an amount equal to the aggregate principal amount
of, all or a portion of the Outstanding Securities of such series,

 

(2) shall be
registered in the name of the Depositary or its nominee,

 

(3) shall be
delivered by the Trustee to the Depositary or pursuant to the Depositary’s
instruction, and

 

(4) shall bear a
legend substantially to the following effect: “Except as otherwise provided in Section 2.11
of the Indenture, this Security may be transferred, in whole but not in part,
only to the Depositary, another nominee of the Depositary or to a successor
Depositary or to a nominee of such successor Depositary.”

 

(b) Notwithstanding
the provisions of Section 2.05, the Global Security of a series may be
transferred, in whole but not in part and in the manner provided in Section 2.05,
only to the Depositary for

 

12

 

such series, another
nominee of the Depositary for such series, or to a successor Depositary for
such series selected or approved by the Company or to a nominee of such
successor Depositary.

 

(c) If at any time
the Depositary for a series of the Securities notifies the Company that it is
unwilling or unable to continue as Depositary for such series or if at any time
the Depositary for such series shall no longer be registered or in good
standing under the Exchange Act, or other applicable statute or regulation, and
a successor Depositary for such series is not appointed by the Company within
90 days after the Company receives such notice or becomes aware of such
condition, as the case may be, this Section 2.11 shall no longer be
applicable to the Securities of such series and the Company will execute, and
subject to Section 2.05, the Trustee will authenticate and deliver the
Securities of such series in definitive registered form without coupons, in
authorized denominations, and in an aggregate principal amount equal to the
principal amount of the Global Security of such series in exchange for such
Global Security. In addition, the Company may at any time determine that the
Securities of any series shall no longer be represented by a Global Security
and that the provisions of this Section 2.11 shall no longer apply to the
Securities of such series. In such event the Company will execute and subject
to Section 2.05, the Trustee, upon receipt of an Officers’ Certificate
evidencing such determination by the Company, will authenticate and deliver the
Securities of such series in definitive registered form without coupons, in
authorized denominations, and in an aggregate principal amount equal to the
principal amount of the Global Security of such series in exchange for such
Global Security. Upon the exchange of the Global Security for such Securities
in definitive registered form without coupons, in authorized denominations, the
Global Security shall be canceled by the Trustee. Such Securities in definitive
registered form issued in exchange for the Global Security pursuant to this Section 2.11(c) shall
be registered in such names and in such authorized denominations as the
Depositary, pursuant to instructions from its direct or indirect participants
or otherwise, shall instruct the Trustee. The Trustee shall deliver such
Securities to the Depositary for delivery to the Persons in whose names such
Securities are so registered.

 

(d)  None of the Trustee, the Security Registrar
or any paying agent shall have any responsibility or obligation to any
beneficial owner in a Global Security, a member of, or a participant in the
Depositary or other Person with respect to the accuracy of the records of the
Depositary or its nominee or of any participant or member thereof, with respect
to any ownership interest in the Securities or with respect to the delivery to
any participant, member, beneficial owner or other Person (other than the
Depositary) of any notice (including any notice of redemption) or the payment
of any amount, under or with respect to such Securities.  All notices and communications to be given to
the Securityholders and all payments to be made to Securityholders under the
Securities and this Indenture shall be given or made only to or upon the order
of the registered holders (which shall be the Depositary or its nominee in the
case of the Global Security).  The rights
of beneficial owners in the Global Security shall be exercised only through the
Depositary subject to the applicable procedures.  The Trustee, the Security Registrar and any
paying agent shall be entitled to rely and shall be fully protected in relying
upon information furnished by the Depositary with respect to its members,
participants and any beneficial owners. 
The Trustee, the Security Registrar and any paying agent shall be
entitled to deal with any depositary (including the Depositary), and any
nominee thereof, that is the registered holder of any Global Security for all
purposes of this Indenture relating to such Global Security (including the
payment of principal, premium, if any, and interest and additional amounts, if
any, and the giving of instructions or directions by or to the owner or holder
of a beneficial ownership interest in such Global Security) as the sole holder
of such Global Security and shall have no obligations to the beneficial owners
thereof.  None of the Trustee, the
Security Registrar or any paying agent shall have any responsibility or
liability for any acts or omissions of any such depositary with respect to such
Global Security, for the records of any such depositary, including records in
respect of beneficial ownership interests in respect of any such Global
Security, for any transactions between such depositary and any participant in
such depositary or between or among any such depositary, any such participant and/or
any holder or owner of a beneficial interest in such Global Security, or for
any transfers of beneficial interests in any such Global Security.

 

Notwithstanding the
foregoing, with respect to any Global Security, nothing herein shall prevent
the Company, the Trustee, the Security Registrar, any paying agent, or any
other agent of the Company or any agent of the Trustee, from giving effect to
any written certification, proxy or other

 

13

 

authorization furnished
by any depositary (including the Depositary), as a Securityholder, with respect
to such Global Security or impair, as between such depositary and owners of
beneficial interests in such Global Security, the operation of customary
practices governing the exercise of the rights of such depositary (or its
nominee) as Holder of such Global Security.

 

ARTICLE III

REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS

 

SECTION 3.01
REDEMPTION.

 

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

 

SECTION 3.02
NOTICE OF REDEMPTION.

 

(a) In case the
Company shall desire to exercise such right to redeem all or, as the case may
be, a portion of the Securities of any series in accordance with the right
reserved so to do, the Company shall (upon five Business Days prior notice to
the Trustee, unless a shorter notice period shall be acceptable to the
Trustee), or shall cause the Trustee to, give notice of such redemption to
Holders of the Securities of such series to be redeemed by mailing, first class
postage prepaid, a notice of such redemption not less than 30 days and not
more than 90 days before the date fixed for redemption of that series to
such Holders at their last addresses as they shall appear upon the Security
Register unless a shorter period is specified in the Securities to be redeemed.
Any notice that is mailed in the manner herein provided shall be conclusively
presumed to have been duly given, whether or not the registered Holder receives
the notice. In any case, failure duly to give such notice to the Holder of any
Security of any series designated for redemption in whole or in part, or any
defect in the notice, shall not affect the validity of the proceedings for the
redemption of any other Securities of such series or any other series. In the
case of any redemption of Securities prior to the expiration of any restriction
on such redemption provided in the terms of such Securities or elsewhere in
this Indenture, the Company shall furnish the Trustee with an Officers’
Certificate evidencing compliance with any such restriction. Each such notice
of redemption shall specify the date fixed for redemption and the redemption price
at which Securities of that series are to be redeemed, and shall state that
payment of the redemption price of such Securities to be redeemed will be made
at the office or agency of the Company in the Borough of Manhattan, the City
and State of New York, upon presentation and surrender of such Securities, that
interest accrued to the date fixed for redemption will be paid as specified in
said notice, that from and after said date interest will cease to accrue and
that the redemption is for a sinking fund, if such is the case. If less than
all the Securities of a series are to be redeemed, the notice to the Holders of
Securities of that series to be redeemed in whole or in part shall specify the
particular Securities to be so redeemed. In case any Security is to be redeemed
in part only, the notice that relates to such Security shall state the portion
of the principal amount thereof to be redeemed, and shall state that on and
after the redemption date, upon surrender of such Security, a new Security or Securities
of such series in principal amount equal to the unredeemed portion thereof will
be issued.

 

(b) If less than all
the Securities of a series are to be redeemed, the Company shall give the
Trustee at least 45 days’ notice in advance of the date fixed for
redemption as to the aggregate principal amount of Securities of the series to
be redeemed, and thereupon the Trustee shall select, by lot or in such other
manner as it shall deem appropriate and fair in its discretion and that may
provide for the selection of a portion or portions (equal to one thousand U.S.
dollars ($1,000) or any integral multiple thereof) of the principal amount of
such Securities of a denomination larger than $1,000, the Securities to be
redeemed and shall thereafter promptly notify the Company in writing of the
numbers of the Securities to be redeemed, in whole or in part. The Company may,
if and whenever it shall so elect, by delivery of instructions signed on its
behalf by its President or any Vice President, instruct the Trustee or any
paying agent to call all or any part of the Securities of a particular series
for redemption and to give notice of redemption in the manner set forth in this
Section, such notice to be in the name of the Company or its own name as the
Trustee or such paying agent as it may deem advisable. In any case in which
notice of redemption is to be given by the Trustee or any such paying agent,
the Company shall deliver or cause to be

 

14

 

delivered to, or permit
to remain with, the Trustee or such paying agent, as the case may be, such
Security Register, transfer books or other records, or suitable copies or
extracts therefrom, sufficient to enable the Trustee or such paying agent to
give any notice by mail that may be required under the provisions of this
Section.

 

SECTION 3.03
PAYMENT UPON REDEMPTION.

 

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

 

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

 

SECTION 3.04
SINKING FUND.

 

The provisions of
Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for
the retirement of Securities of a series, except as otherwise specified as
contemplated by Section 2.01 for Securities of such series. The minimum
amount of any sinking fund payment provided for by the terms of Securities of
any series is herein referred to as a “mandatory sinking fund payment,” and any
payment in excess of such minimum amount provided for by the terms of
Securities of any series is herein referred to as an “optional sinking fund
payment”. If provided for by the terms of Securities of any series, the cash
amount of any sinking fund payment may be subject to reduction as provided in Section 3.05.
Each sinking fund payment shall be applied to the redemption of Securities of
any series as provided for by the terms of Securities of such series.

 

SECTION 3.05
SATISFACTION OF SINKING FUND PAYMENTS WITH SECURITIES.

 

The Company,

 

(1) may deliver
Outstanding Securities of a series (other than any Securities previously called
for redemption) and

 

(2) may apply as a
credit Securities of a series that have been redeemed either at the election of
the Company pursuant to the terms of such Securities or through the application
of permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund
payment with respect to the Securities of such series required to be made
pursuant to the terms of such Securities as provided for by the terms of such
series, provided that such Securities have not been previously so credited.
Such Securities shall be received and credited for such purpose by the Trustee
at the redemption price specified in such Securities for redemption through
operation of the sinking fund and the amount of such sinking fund payment shall
be reduced accordingly.

 

15

 

SECTION 3.06 REDEMPTION OF
SECURITIES FOR SINKING FUND.

 

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

 

ARTICLE IV

COVENANTS

 

SECTION 4.01
PAYMENT OF PRINCIPAL, PREMIUM AND INTEREST.

 

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

 

SECTION 4.02 MAINTENANCE OF
OFFICE OR AGENCY.

 

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

 

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

 

SECTION 4.03
PAYING AGENTS.

 

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

 

16

 

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

 

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

 

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

 

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

 

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

 

(c) Notwithstanding
anything in this Section to the contrary,

 

(1) the agreement to
hold sums in trust as provided in this Section is subject to the
provisions of Section 11.05, and

 

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

 

SECTION 4.04
APPOINTMENT TO FILL VACANCY IN OFFICE OF TRUSTEE.

 

The Company, whenever
necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in
the manner provided in Section 7.11, a Trustee, so that there shall at all
times be a Trustee hereunder.

 

SECTION 4.05
COMPLIANCE WITH CONSOLIDATION PROVISIONS.

 

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

 

17

 

SECTION 4.06 STATEMENT BY
OFFICERS AS TO DEFAULT.

 

The Company will deliver
to the Trustee, within 120 days after the end of each fiscal year of the
Company, an Officers’ Certificate, stating whether or not to the best knowledge
of the signer 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 such signer may have
knowledge.

 

ARTICLE V

SECURITYHOLDERS’ LISTS AND REPORTS

BY THE COMPANY AND THE TRUSTEE

 

SECTION 5.01
COMPANY TO FURNISH TRUSTEE NAMES AND ADDRESSES OF SECURITYHOLDERS.

 

The Company will furnish
or cause to be furnished to the Trustee:

 

(1) not more than
15 days after each regular record date (as defined in Section 2.03) a
list, in such form as the Trustee may reasonably require, of the names and
addresses of the Holders of each series of Securities as of such regular record
date, provided that the Company shall not be obligated to furnish or cause to
furnish such list at any time that the list shall not differ in any respect
from the most recent list furnished to the Trustee by the Company; and

 

(2) at such other
times as the Trustee may request in writing within 30 days after the receipt by
the Company of any such request, a list of similar form and content as of a
date not more than 15 days prior to the time such list is furnished;
provided, however, that, in either case, no such list need be furnished for any
series for which the Trustee shall be the Security Registrar.

 

SECTION 5.02
PRESERVATION OF INFORMATION; COMMUNICATIONS WITH SECURITYHOLDERS.

 

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

 

(b) The Trustee may
destroy any list furnished to it as provided in Section 5.01 upon receipt
of a new list so furnished.

 

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

 

SECTION 5.03
REPORTS BY THE COMPANY.

 

(a) The Company
covenants and agrees to file with the Trustee, within 15 days after the Company
has filed the same with the Commission, copies of the annual reports and of the
information, documents and other reports (or copies of such portions of any of
the foregoing as the Commission may from time to time by rules and
regulations prescribe) that the Company may be required to file with the
Commission pursuant to Section 13 or Section 15(d) of the
Exchange Act; or, if the Company is not required to file information, documents
or reports pursuant to either of such sections, then to file with the Trustee
and the Commission, in accordance with the rules and regulations
prescribed from time to time by the Commission, such of the supplementary and
periodic information, documents and reports that may be required pursuant

 

18

 

to Section 13 of the
Exchange Act, in respect of a security listed and registered on a national
securities exchange as may be prescribed from time to time in such rules and
regulations.

 

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

 

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

 

(d) Delivery of
reports, information and documents to the Trustee under this Section 5.03
is for informational purposes only and the Trustee’s receipt of the foregoing
shall not constitute constructive notice of any information contained therein
or determinable from information contained therein, including the Company’s
compliance with any of its respective covenants hereunder (as to which the
Trustee is entitled to rely exclusively on Officers’ Certificates, except as otherwise
provided herein).

 

SECTION 5.04 REPORTS BY THE
TRUSTEE.

 

(a) On or before July 15
in each year in which any of the Securities are Outstanding, the Trustee shall
transmit by mail, first class postage prepaid, to the Securityholders, as their
names and addresses appear upon the Security Register, a brief report dated as
of the preceding May 15, if and to the extent required under Section 313(a) of
the Trust Indenture Act.

 

(b) The Trustee
shall comply with Section 313(b) and 313(c) of the Trust Indenture
Act.

 

(c) A copy of each
such report shall, at the time of such transmission to Securityholders, be
filed by the Trustee with the Company, with each stock exchange upon which any
Securities are listed (if so listed) and also with the Commission. The Company
agrees to notify the Trustee when any Securities become listed on any stock
exchange.

 

ARTICLE VI

REMEDIES OF THE TRUSTEE

AND SECURITYHOLDERS ON EVENT OF DEFAULT

 

SECTION 6.01
EVENTS OF DEFAULT.

 

(a) Whenever used
herein with respect to Securities of a particular series, “Event of Default”
means any one or more of the following events that has occurred and is
continuing (whatever the reason for such Event of Default and whether it shall
be occasioned by the subordination provisions of Article XIV or other
subordination provisions applicable to a series of Securities or be voluntary
or involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

 

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

 

19

 

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

 

(3) the Company
fails to observe or perform any other of its covenants or agreements with
respect to that series contained in this Indenture or otherwise established
with respect to that series of Securities pursuant to Section 2.01 hereof
(other than a covenant or agreement that has been expressly included in this
Indenture solely for the benefit of one or more series of Securities other than
such series) for a period of 90 days after the date on which written
notice of such failure, requiring the same to be remedied and stating that such
notice is a “Notice of Default” hereunder, shall have been given to the Company
by the Trustee, by registered or certified mail, or to the Company and the
Trustee by the Holders of at least 25% in principal amount of the Securities of
that series at the time Outstanding;

 

(4) the Company
pursuant to or within the meaning of any Bankruptcy Law

 

(i)   commences
a voluntary case,

 

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

 

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

 

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

 

(5) a court of
competent jurisdiction enters an order under any Bankruptcy Law that

 

(i)  
is for relief against the Company in an involuntary case,

 

(ii)  appoints
a Custodian of the Company for all or substantially all of its property, or

 

(iii) orders
the liquidation of the Company, and the order remains unstayed and in effect
for 90 days.

 

(b) In each and
every such case, unless the principal of all the Securities of that series
shall have already become due and payable, either the Trustee or the Holders of
not less than 25% in aggregate principal amount of the Securities of that
series then Outstanding hereunder, by notice in writing to the Company (and to
the Trustee if given by such Securityholders), may declare the principal of all
the Securities of that series to be due and payable immediately, and upon any
such declaration the same shall become and shall be immediately due and
payable, notwithstanding anything contained in this Indenture or in the
Securities of that series or established with respect to that series pursuant
to Section 2.01 to the contrary.

 

(c) At any time
after the principal of the Securities of that series shall have been so
declared due and payable, and before any judgment or decree for the payment of
the moneys due shall have been obtained or entered as hereinafter provided, the
Holders of a majority in aggregate principal amount of the Securities of that
series then Outstanding hereunder, by written notice to the Company and the
Trustee, may rescind and annul such declaration and its consequences if:

 

(i) the Company has
paid or deposited with the Trustee a sum sufficient to pay all matured
installments of interest upon all the Securities of that series and the
principal of (and premium, if any, on) any and all Securities of that series
that shall have become due otherwise than by acceleration (with interest upon
such principal and premium, if any, and, to the extent that such payment is
enforceable under applicable law, upon overdue installments of interest, at the
rate per annum expressed in the

 

20

 

Securities of that series
to the date of such payment or deposit) and the amount payable to the Trustee
under Section 7.07, and

 

(ii) any and all
Events of Default under the Indenture with respect to such series, other than
the nonpayment of principal on Securities of that series that shall not have
become due by their terms, shall have been remedied or waived as provided in Section 6.06.
No such rescission and annulment shall extend to or shall affect any subsequent
default or impair any right consequent thereon.

 

(d) In case the
Trustee shall have proceeded to enforce any right with respect to Securities of
that series under this Indenture and such proceedings shall have been
discontinued or abandoned because of such rescission or annulment or for any
other reason or shall have been determined adversely to the Trustee, then and
in every such case, subject to any determination in such proceedings, the
Company, and the Trustee shall be restored respectively to their former
positions and rights hereunder, and all rights, remedies and powers of the
Company and the Trustee shall continue as though no such proceedings had been
taken.

 

SECTION 6.02
COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE.

 

(a) The Company
covenants that

 

(i) in case it shall
default in the payment of any installment of interest on any of the Securities
of a series, as and when the same shall have become due and payable, and such
default shall have continued for a period of 90 days, or

 

(ii) in case it
shall default in the payment of the principal of (or premium, if any, on) any
of the Securities of a series when the same shall have become due and payable,
whether upon maturity of the Securities of a series or upon redemption or upon
declaration, pursuant to any sinking or analogous fund established with respect
to that series or otherwise, then, upon demand of the Trustee, the Company will
pay to the Trustee, for the benefit of the Holders of the Securities of that
series, the whole amount that then shall have been become due and payable on
all such Securities for principal (and premium, if any) or interest, or both,
as the case may be, with interest upon the overdue principal (and premium, if
any) and (to the extent that payment of such interest is enforceable under
applicable law) upon overdue installments of interest at the rate per annum
expressed in the Securities of that series; and, in addition thereto, such
further amount as shall be sufficient to cover the costs and expenses of
collection, and the amount payable to the Trustee under Section 7.07.

 

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

 

(c) In case of any
receivership, insolvency, liquidation, bankruptcy, reorganization,
readjustment, arrangement, composition or judicial proceedings affecting the
Company, or its creditors or property, the Trustee shall have power to
intervene in such proceedings and take any action therein that may be permitted
by the court and shall (except as may be otherwise provided by law) be entitled
to file such proofs of claim and other papers and documents as may be necessary
or advisable in order to have the claims of the Trustee and of the Holders of
Securities of such series allowed for the entire amount due and payable by the
Company under the Indenture at the date of institution of such proceedings and
for any additional amount that may become due and payable by the Company after
such date, and to collect and receive any moneys or other property payable or
deliverable on any such claim, and to distribute the same after the deduction
of the amount payable to the Trustee under Section 7.07; and any receiver,
assignee or

 

21

 

trustee in bankruptcy or
reorganization is hereby authorized by each of the Holders of Securities of
such series to make such payments to the Trustee, and, in the event that the
Trustee shall consent to the making of such payments directly to such Securityholders,
to pay to the Trustee any amount due it under Section 7.07.

 

(d) All rights of
action and of asserting claims under this Indenture, or under any of the terms
established with respect to Securities of that series, may be enforced by the
Trustee without the possession of any of such Securities, or the production
thereof at any trial or other proceeding relative thereto, and any such suit or
proceeding instituted by the Trustee shall be brought in its own name as
trustee of an express trust, and any recovery of judgment shall, after
provision for payment to the Trustee of any amounts due under Section 7.07,
be for the ratable benefit of the Holders of the Securities of such series. In
case of an Event of Default hereunder, the Trustee may in its discretion
proceed to protect and enforce the rights vested in it by this Indenture by
such appropriate judicial proceedings as the Trustee shall deem most effectual
to protect and enforce any of such rights, either at law or in equity or in
bankruptcy or otherwise, whether for the specific enforcement of any covenant
or agreement contained in the Indenture or in aid of the exercise of any power
granted in this Indenture, or to enforce any other legal or equitable right
vested in the Trustee by this Indenture or by law. Nothing contained herein
shall be deemed to authorize the Trustee to authorize or consent to or accept
or adopt on behalf of any Securityholder any plan of reorganization,
arrangement, adjustment or composition affecting the Securities of that series
or the rights of any Holder thereof or to authorize the Trustee to vote in
respect of the claim of any Securityholder in any such proceeding.

 

SECTION 6.03
APPLICATION OF MONEYS COLLECTED.

 

Any moneys collected by
the Trustee pursuant to this Article with respect to a particular series
of Securities and any money or other property distributable in respect of the
company’s obligations under this Indenture after an Event of Default shall be
applied in the following order, at the date or dates fixed by the Trustee and,
in case of the distribution of such moneys on account of principal (or premium,
if any) or interest, upon presentation of the Securities of that series, and
notation thereon of the payment, if only partially paid, and upon surrender
thereof if fully paid:

 

FIRST: To the payment of
costs and expenses of collection and of all amounts payable to the Trustee
(including any predecessor Trustee) under Section 7.07;

 

SECOND: To the payment of
all Senior Indebtedness of the Company if and to the extent required by Article XIV
or other subordination provisions applicable with respect to such series; and

 

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

 

SECTION 6.04
LIMITATION ON SUITS.

 

No Holder of any Security
of any series shall have any right by virtue or by availing of any provision of
this Indenture to institute any suit, action or proceeding in equity or at law
upon or under or with respect to this Indenture or for the appointment of a
receiver or trustee, or for any other remedy hereunder, unless

 

(1) such Holder
previously shall have given to the Trustee written notice of an Event of
Default and of the continuance thereof with respect to the Securities of such
series specifying such Event of Default, as hereinbefore provided;

 

22

 

(2) the Holders of
not less than 25% in aggregate principal amount of the Securities of such
series then Outstanding shall have made written request upon the Trustee to
institute such action, suit or proceeding in its own name as trustee hereunder;

 

(3) such Holder or
Holders shall have offered to the Trustee such reasonable indemnity as it may
require against the costs, expenses and liabilities to be incurred therein or
thereby; and

 

(4) the Trustee for
60 days after its receipt of such notice, request and offer of indemnity,
shall have failed to institute any such action, suit or proceeding and

 

(5) during such
60 day period, the Holders of a majority in principal amount of the
Securities of that series do not give the Trustee a direction inconsistent with
the request.

 

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

 

SECTION 6.05
RIGHTS AND REMEDIES CUMULATIVE; DELAY OR OMISSION NOT WAIVER.

 

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

 

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

 

SECTION 6.06
CONTROL BY SECURITYHOLDERS.

 

The Holders of a majority
in aggregate principal amount of the Securities of any series at the time
Outstanding, determined in accordance with Section 8.01, shall have the
right to direct the time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or power conferred on
the Trustee with respect to such series; provided, however, that such direction
shall not be in conflict with any rule of law or with this Indenture or be
unduly prejudicial to the rights of Holders of Securities of any other series
at the time Outstanding determined in accordance with Section 8.01.
Subject to the provisions of Section 7.01, the Trustee shall have the
right to decline to follow any such direction if the Trustee in good faith
shall, by a Responsible Officer or Officers of the Trustee, determine that the

 

23

 

proceeding so directed
would involve the Trustee in personal liability. The Holders of a majority in
aggregate principal amount of the Securities of any series at the time Outstanding
affected thereby, determined in accordance with Section 8.01, may on
behalf of the holders of all of the Securities of such series waive any past
default in the performance of any of the covenants contained herein or
established pursuant to Section 2.01 with respect to such series and its
consequences, except a default in the payment of the principal of (or premium,
if any) or interest on, any of the Securities of that series as and when the
same shall become due by the terms of such Securities otherwise than by
acceleration (unless such default has been cured and a sum sufficient to pay
all matured installments of interest and principal and any premium has been
deposited with the Trustee (in accordance with Section 6.01(c)) or in
respect of a covenant or provision hereof which under Article IX cannot be
modified or amended without the consent of the Holder of each Outstanding
Security affected. Upon any such waiver, the default covered thereby shall be
deemed to be cured for all purposes of this Indenture and the Company, the
Trustee and the Holders of  the Securities of such series shall be restored to
their former positions and rights hereunder, respectively; but no such waiver
shall extend to any subsequent or other default or impair any right consequent
thereon.

 

SECTION 6.07
UNDERTAKING TO PAY COSTS.

 

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

 

ARTICLE VII

CONCERNING THE TRUSTEE

 

SECTION 7.01
CERTAIN DUTIES AND RESPONSIBILITIES OF TRUSTEE.

 

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

 

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

 

(i) prior to the
occurrence of an Event of Default with respect to the Securities of a series
and after the curing or waiving of all such Events of Default with respect to
that series that may have occurred: the duties and obligations of the Trustee
shall with respect to the Securities of such series be determined solely by the
express provisions of this Indenture, and the Trustee shall not be liable with
respect to the Securities of such series except for the performance of such
duties and obligations as are specifically set forth in this Indenture, and no
implied covenants or obligations shall be read into this

 

24

 

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

 

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

 

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

 

(iv) this Subsection
shall not be construed to limit the effect of Subsection (c) of this Section 7.01.

 

(c) none of the
provisions contained in this Indenture shall require the Trustee to expend or
risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its
rights or powers,  it shall have
reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it.

 

(d) The Trustee
shall not be deemed to have notice of or be charged with Knowledge with any
Default or Event of Default with respect to any series of Securities, except
Events of Default under Section 6.01(a)(1) or (a)(2), if and so long
as it is acting as paying agent with respect to the Securities of such series,
unless written notice of such Default Event or Event of Default, as the case
may be, is received by the Trustee at the Corporate Trust Office of the Trustee
from the Company or any Holder of Securities of such series, and such notice
references the Securities and this Indenture.

 

(e) Whether or not
expressly so provided, every provision of this Indenture relating to the
conduct or affecting the liability of or affording protection to the Trustee
shall be subject to the provisions of this Section 7.01.

 

SECTION 7.02
NOTICE OF DEFAULTS.

 

If a Default occurs
hereunder with respect to Securities of any series and is known to a
Responsible Officer of the Trustee, the Trustee shall give the Holders of
Securities of such series notice of such Default as and to the extent provided
by the Trust Indenture Act; provided, however, that in the case of any Default
of the character specified in clause (3) of Section 6.01(a) with
respect to Securities of such series, no such notice to Holders shall be given
until at least 30 days after the occurrence thereof.

 

SECTION 7.03
CERTAIN RIGHTS OF TRUSTEE.

 

Except as otherwise
provided in Section 7.01:

 

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

 

25

 

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

 

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

 

(d) The Trustee
shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request, order or direction of any of the
Securityholders, pursuant to the provisions of this Indenture, unless such
Securityholders shall have offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities that may be incurred
therein or thereby; nothing contained herein shall, however, relieve the
Trustee of the obligation, upon the occurrence of an Event of Default with
respect to a series of the Securities (that has not been cured or waived) to
exercise with respect to Securities of that series such of the rights and
powers vested in it by this Indenture, and to use the same degree of care and
skill in their exercise, as a prudent man would exercise or use under the
circumstances in the conduct of his own affairs;

 

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

 

(f) The Trustee
shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice,
request, consent, order, approval, bond, security, or other papers or
documents; and

 

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

 

(h) whenever in the
administration of this Indenture the Trustee shall deem it desirable that a
matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence be herein specifically
prescribed) may, in the absence of bad faith on its part, conclusively rely
upon an Officers’ Certificate;

 

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

 

(j) the Trustee may request that the Company
deliver an Officers’ Certificate setting forth the names of individuals and/or
titles of officers authorized at such time to take specified actions pursuant
to this Indenture;

 

(k) the permissive right of the Trustee to take
or refrain from taking any actions enumerated in this Indenture shall not be
construed as a duty;

 

(l) anything in this Indenture notwithstanding,
in no event shall the Trustee be liable for special, indirect, punitive or
consequential loss or damage of any kind whatsoever (including but not limited
to loss of profit), even if the Company or Guarantor has been advised as to the
likelihood of such loss or damage and regardless of the form of action;

 

(m) the Trustee
shall not be responsible or liable for any failure or delay in the performance
of its obligations under this Indenture arising out of or caused, directly or
indirectly, by circumstances beyond its

 

26

 

reasonable control,
including, without limitation, acts of God; earthquakes; fire; flood;
terrorism; wars and other military disturbances; sabotage; epidemics; riots;
interruptions; loss or malfunctions of utilities, computer (hardware or
software) or communication services; accidents; labor disputes; acts of civil
or military authority and governmental action;

 

SECTION 7.04
TRUSTEE NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OR SECURITIES.

 

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

 

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

 

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

 

SECTION 7.05
MAY HOLD SECURITIES.

 

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

 

SECTION 7.06
MONEYS HELD IN TRUST.

 

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

 

SECTION 7.07
COMPENSATION AND REIMBURSEMENT.

 

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

 

27

 

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

 

(c) To the extent permitted by law, any
compensation due or expense incurred by the Trustee after a default specified
in or pursuant to Section 6.01 is intended to constitute an expense of
administration under any then applicable bankruptcy or insolvency law. “Trustee”
for purposes of this Section 7.07 shall include any predecessor Trustee
but the negligence or bad faith of any Trustee shall not affect the rights of
any other Trustee under this Section 7.07.

 

(d) The provisions
of this Section 7.07 shall survive the satisfaction and discharge of this
Indenture, the termination of this Indenture for any reason, or the earlier
resignation or removal of the Trustee and shall apply with equal force and
effect to the Trustee in its capacity as Authenticating Agent, Security
Registrar or paying agent.

 

SECTION 7.08
RELIANCE ON OFFICERS’ CERTIFICATE.

 

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

 

SECTION 7.09
DISQUALIFICATION; CONFLICTING INTERESTS.

 

If the Trustee has or
shall acquire any “conflicting interest” within the meaning of Section 310(b) of
the Trust Indenture Act, the Trustee and the Company shall in all respects
comply with the provisions of Section 310(b) of the Trust Indenture
Act, subject to the penultimate paragraph thereof.  For purposes of Section 310(b)(i) of
the Trust Indenture Act and to the extent permitted thereby, the Trustee, in
its capacity as trustee in respect of the Securities of any series, shall not
be deemed to have a conflicting interest arising from its capacity as trustee
in respect of the Securities of any other series.

 

SECTION 7.10
CORPORATE TRUSTEE REQUIRED; ELIGIBILITY.

 

There shall at all times
be a Trustee with respect to the Securities issued hereunder which shall at all
times be a corporation organized and doing business under the laws of the
United States of America or any State or Territory thereof or of the District
of Columbia, or a corporation or other Person permitted to act as trustee by
the Commission, authorized under such laws to exercise corporate trust powers,
having a combined capital and surplus of at least fifty million U.S. dollars
($50,000,000), and subject to supervision or examination by federal, state,
territorial, or District of Columbia authority. If such corporation publishes
reports of condition at least annually, pursuant to law or to the requirements
of the aforesaid supervising or examining authority, then for the purposes of
this Section, the combined capital and surplus of such  corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of
condition so published. The Company may not, nor may any Person directly or
indirectly controlling, controlled by, or under common control with the
Company, serve as Trustee. In case at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section, the Trustee shall
resign immediately in the manner and with the effect specified in Section 7.11.

 

28

 

SECTION 7.11 RESIGNATION AND
REMOVAL; APPOINTMENT OF SUCCESSOR.

 

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

 

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

 

(i) the Trustee
shall fail to comply with the provisions of Section 7.09 after written
request therefor by the Company or by any Securityholder who has been a bona
fide Holder of a Security or Securities for at least six months; or

 

(ii) the Trustee
shall cease to be eligible in accordance with the provisions of Section 7.10
and shall fail to resign after written request therefor by the Company or by
any such Securityholder; or

 

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

 

then, in any such case,
the Company may remove the Trustee with respect to all Securities and appoint a
successor trustee by written instrument, in duplicate, executed by order of the
Board of Directors, one copy of which instrument shall be delivered to the
Trustee so removed and one copy to the successor trustee, or, unless, in the
case of a failure to comply with Section 7.09, the Trustee’s duty to
resign is stayed as provided in the penultimate paragraph of Section 310(b) of
the Trust Indenture Act, any Securityholder who has been a bona fide Holder of
a Security or Securities for at least six months may, on behalf of that Holder
and all others similarly situated, petition any court of competent jurisdiction
for the removal of the Trustee and the appointment of a successor trustee. Such
court may thereupon after such notice, if any, as it may deem proper and
prescribe, remove the Trustee and appoint a successor trustee.

 

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

 

(d) Any resignation
or removal of the Trustee and appointment of a successor trustee with respect
to the Securities of a series pursuant to any of the provisions of this Section shall
become effective upon acceptance of appointment by the successor trustee as
provided in Section 7.12.

 

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

 

29

 

SECTION 7.12 ACCEPTANCE OF
APPOINTMENT BY SUCCESSOR.

 

(a) In case of the
appointment hereunder of a successor trustee with respect to all Securities,
every such successor trustee so appointed shall execute, acknowledge and
deliver to the Company and to the retiring Trustee an instrument accepting such
appointment, and thereupon the resignation or removal of the retiring Trustee
shall become effective and such successor trustee, without any further act,
deed or conveyance, shall become vested with all the rights, powers, trusts and
duties of the retiring Trustee; but, on the request of the Company or the
successor trustee, such retiring Trustee shall, upon payment of its charges,
execute and deliver an instrument transferring to such successor trustee all the
rights, powers, and trusts of the retiring Trustee and shall duly assign,
transfer and deliver to such successor trustee all property and money held by
such retiring Trustee hereunder, subject nevertheless to the lien provided for
in Section 7.07.

 

(b) In case of the
appointment hereunder of a successor trustee with respect to the Securities of
one or more (but not all) series, the Company, the retiring Trustee and each
successor trustee with respect to the Securities of one or more series shall
execute and deliver an indenture supplemental hereto wherein each successor
trustee shall accept such appointment and which

 

(i) shall contain
such provisions as shall be necessary or desirable to transfer and confirm to,
and to vest in, each successor trustee all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those
series to which the appointment of such successor trustee relates,

 

(ii) shall contain
such provisions as shall be deemed necessary or desirable to confirm that all
the rights, powers, trusts and duties of the retiring Trustee with respect to
the Securities of that or those series as to which the retiring Trustee is not
retiring shall continue to be vested in the retiring Trustee, and

 

(iii) shall add to
or change any of the provisions of this Indenture as shall be necessary to
provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same
trust, that each such Trustee shall be trustee of a trust or trusts hereunder
separate and apart from any trust or trusts hereunder administered by any other
such Trustee and that no Trustee shall be responsible for any act or failure to
act on the part of any other Trustee hereunder; and upon the execution and
delivery of such supplemental indenture the resignation or removal of the
retiring Trustee shall become effective to the extent provided therein, such
retiring Trustee shall with respect to the Securities of that or those series
to which the appointment of such successor trustee relates have no further
responsibility for the exercise of rights and powers or for the performance of
the duties and obligations vested in the Trustee under this Indenture, and each
such successor trustee, without any further act, deed or conveyance, shall
become vested with all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the
appointment of such successor trustee relates; but, on request of the Company
or any successor trustee, such retiring Trustee shall duly assign, transfer and
deliver to such successor trustee, to the extent contemplated by such
supplemental indenture, the property and money  held by such retiring Trustee hereunder with respect
to the Securities of that or those series to which the appointment of such
successor trustee relates, subject nevertheless to the lien provided for in Section 7.07.

 

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

 

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

 

(e) Upon acceptance
of appointment by a successor trustee as provided in this Section, the Company
shall transmit notice of the succession of such trustee hereunder by mail,
first class postage

 

30

 

prepaid, to the
Securityholders, as their names and addresses appear upon the Security
Register. If the Company fails to transmit such notice within ten days after
acceptance of appointment by the successor trustee, the successor trustee shall
cause such notice to be transmitted at the expense of the Company.

 

SECTION 7.13
MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS.

 

Any Person into which the
Trustee may be merged or converted or with which it may be consolidated, or any
Person resulting from any merger, conversion or consolidation to which the
Trustee shall be a party, or any Person succeeding to all or substantially all
of the corporate trust business of the Trustee, shall be the successor of the
Trustee hereunder, provided that such Person shall be qualified under the
provisions of Section 7.09 and eligible under the provisions of Section 7.10,
without the execution or filing of any paper or any further act on the part of
any of the parties hereto, anything herein to the contrary notwithstanding. In
case any Securities shall have been authenticated, but not delivered, by the
Trustee then in office, any successor by merger, conversion or consolidation to
such authenticating Trustee may adopt such authentication and deliver the
Securities so authenticated with the same effect as if such successor Trustee
had itself authenticated such Securities.

 

SECTION 7.14
PREFERENTIAL COLLECTION OF CLAIMS AGAINST THE COMPANY.

 

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

 

ARTICLE VIII

CONCERNING THE SECURITYHOLDERS

 

SECTION 8.01
EVIDENCE OF ACTION BY SECURITYHOLDERS.

 

Whenever in this
Indenture it is provided that the Holders of a majority or specified percentage
in aggregate principal amount of the Securities of a particular series may take
any action (including the making of any demand or request, the giving of any
notice, consent or waiver or the taking of any other action), the fact that at
the time of taking any such action the Holders of such majority or specified
percentage of that series have joined therein may be evidenced by any
instrument or any number of instruments of similar tenor executed by such
Holders of Securities of that series in Person or by agent or proxy appointed
in writing. If the Company shall solicit from the Securityholders of any series
any request, demand, authorization, direction, notice, consent, waiver or other
action, the Company may, at its option, as evidenced by an Officers’
Certificate, fix in advance a record date for such series for the determination
of Securityholders entitled to give such request, demand, authorization,
direction, notice, consent, waiver or other action, but the Company shall have
no obligation to do so. If such a record date is fixed, such request, demand,
authorization, direction, notice, consent, waiver or other action may be given
before or after the record date, but only the Securityholders of record at the
close of business on the record date shall be deemed to be Securityholders for
the purposes of determining whether Securityholders of the requisite proportion
of Outstanding Securities of that series have authorized or agreed or consented
to such request, demand, authorization, direction, notice, consent, waiver or
other action, and for that purpose the Outstanding Securities of that series
shall be computed as of the record date; provided, however, that no such
authorization, agreement or consent by such Securityholders on the record date
shall be deemed effective unless it shall become effective pursuant to the
provisions of this Indenture not later than six months after the record date.

 

SECTION 8.02
PROOF OF EXECUTION BY SECURITYHOLDERS.

 

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

 

31

 

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

 

(b) The ownership of
Securities shall be proved by the Security Register of such Securities or by a
certificate of the Security Registrar thereof.

 

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

 

SECTION 8.03
WHO MAY BE DEEMED OWNERS.

 

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

 

SECTION 8.04
CERTAIN SECURITIES OWNED BY COMPANY DISREGARDED.

 

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

 

SECTION 8.05
ACTIONS BINDING ON FUTURE SECURITYHOLDERS.

 

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

 

32

 

ARTICLE IX

SUPPLEMENTAL INDENTURES

 

SECTION 9.01
SUPPLEMENTAL INDENTURES WITHOUT THE CONSENT OF SECURITYHOLDERS.

 

In addition to any supplemental
indenture otherwise authorized by this Indenture, the Company and the Trustee
may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust
Indenture Act as then in effect), without the consent of the Securityholders,
for one or more of the following purposes:

 

(1) to cure any
ambiguity, defect, or inconsistency herein, in the Securities of any series;

 

(2) to comply with Article X;

 

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

 

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

 

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

 

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

 

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

 

(8) to evidence and
provide for the acceptance of appointment hereunder by a successor Trustee with
respect to the Securities of one or more series and to add to or change any of
the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Trustee,
pursuant to the requirements of Section 7.12.

 

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

 

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

 

33

 

SECTION 9.02 SUPPLEMENTAL
INDENTURES WITH CONSENT OF SECURITYHOLDERS.

 

With the consent
(evidenced as provided in Section 8.01) of the Holders of not less than a
majority in aggregate principal amount of the Securities of each series
affected by such supplemental indenture or indentures at the time Outstanding,
the Company, when authorized by a Board Resolution, and the Trustee may from
time to time and at any time enter into an indenture or indentures supplemental
hereto (which shall conform to the provisions of the Trust Indenture Act as
then in effect) for the purpose of adding any provisions to or changing in any
manner or eliminating any of the provisions of this Indenture or of any
supplemental indenture or of modifying in any manner not covered by Section 9.01
the rights of the Holders of the Securities of such series under this
Indenture; provided, however, that no such supplemental indenture shall,
without the consent of the Holders of each Security then Outstanding and
affected thereby:

 

(1) change the
maturity of the principal of, or any installment of principal of or interest
on, any Security, or reduce the principal amount thereof or the rate of
interest thereon or any premium payable upon the redemption thereof, or reduce
the amount of the principal of an Original Issue Discount Security or any other
Security which would be due and payable upon a declaration of acceleration of
the maturity thereof pursuant to Section 6.01 or change the coin or
currency in which any Security or any premium or interest thereon is payable,
or impair the right to institute suit for the enforcement of any such payment
on or after the maturity thereof (or, in the case of redemption, on or after
the redemption date); or

 

(2) reduce the
percentage in principal amount of the Outstanding Securities of any series, the
consent of whose Holders is required for any such supplemental indenture, or
the consent of whose Holders is required for any waiver of certain defaults
hereunder and their consequences provided for in this Indenture;

 

(3) modify any of
the provisions of this Section or Section 6.06 relating to waivers of
default, except to increase any such percentage or to provide that certain
other provisions of this Indenture cannot be modified or waived without the
consent of the Holder of each Outstanding Security affected thereby; provided,
however, that this clause shall not be deemed to require the consent of any
Holder with respect to changes in the references to “the Trustee” and
concomitant changes in this Section, or the deletion of this proviso, in
accordance with the requirements of Sections 7.12 and 9.01(8); or

 

(4) modify the
provisions of this Indenture with respect to the subordination of such Security
in a manner adverse to the holder thereof.

 

A supplemental indenture
which changes or eliminates any covenant or other provision of this Indenture
which has expressly been included solely for the benefit of one or more
particular series of Securities, or which modifies the rights of the Holders of
Securities of such series with respect to such covenant or other provision,
shall be deemed not to affect the rights under this Indenture of the Holders of
Securities of any other series. It shall not be necessary for the consent of
the Securityholders of any series affected thereby under this Section to
approve the particular form of any proposed supplemental indenture, but it
shall be sufficient if such consent shall approve the substance thereof.

 

SECTION 9.03
EFFECT OF SUPPLEMENTAL INDENTURES.

 

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

 

34

 

SECTION 9.04
SECURITIES AFFECTED BY SUPPLEMENTAL INDENTURES.

 

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

 

SECTION 9.05
EXECUTION OF SUPPLEMENTAL INDENTURES.

 

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

 

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

 

ARTICLE X

SUCCESSOR ENTITY

 

SECTION 10.01
COMPANY MAY CONSOLIDATE, ETC.

 

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

 

35

 

SECTION 10.02 SUCCESSOR ENTITY
SUBSTITUTED.

 

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

 

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

 

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

 

SECTION 10.03
EVIDENCE OF CONSOLIDATION, ETC. TO TRUSTEE.

 

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

 

ARTICLE XI

SATISFACTION AND DISCHARGE; DEFEASANCE

 

SECTION 11.01
SATISFACTION AND DISCHARGE.

 

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

 

(1) either (A) all
Securities of that series theretofore authenticated and delivered (other than (i) any
Securities that shall have been destroyed, lost or stolen and that shall have
been replaced or paid as provided in Section 2.07 and (ii) Securities
for whose payment money or noncallable Governmental Obligations have
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 11.05) have been delivered to the Trustee for
cancellation; or (B) all Securities of such series not theretofore
delivered to the Trustee for cancellation (i) have become due and payable,
or (ii) will by their terms become due and payable 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, and the Company shall
deposit or cause to be deposited with the Trustee as trust funds in trust for
the purpose (x) moneys in an amount, or (y) noncallable Governmental
Obligations the scheduled principal of and interest on which in accordance with
their terms will provide, not later than the due date of any payment, money in
an amount, or (z) a combination thereof, sufficient, in the case of (y) or
(z), in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the
Trustee, to pay and discharge, at maturity or upon redemption, all Securities
of that series not theretofore delivered to the

 

36

 

Trustee for cancellation,
including principal (and premium, if any) and interest due or to become due to
such date of maturity or date fixed for redemption, as the case may be;

 

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

 

(3) the Company has
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that all the conditions precedent herein provided for relating to
the satisfaction and discharge of this Indenture with respect to such series of
Securities have been complied with. Notwithstanding the satisfaction and
discharge of this Indenture with respect to a series of Securities, the
obligations of the Trustee under Section 7.07 and, if money shall have
been deposited with the Trustee pursuant to subclause (y) of clause (1) of
this Section, the obligations of the Trustee under Sections 11.03 and
11.05 shall survive.

 

SECTION 11.02
DEFEASANCE.

 

The Company may, at its
option and at any time (including notwithstanding the exercise by the Company
of a Covenant Defeasance (as defined herein)), elect to have its obligations
discharged with respect to a series of the Securities (“Legal Defeasance”).
Such Legal Defeasance means that the Company shall be deemed to have paid and
discharged the entire indebtedness represented by such series of Securities,
except for (a) the rights of Holders to receive payments in respect of the
principal of (and premium, if any) and interest on the Securities when such
payments are due solely from the trust fund described in this Section, (b) the
Company’s obligations with respect to such series of Securities concerning
issuing temporary Securities, registration of transfer or exchange of such
series of Securities, mutilated, destroyed, lost or stolen Securities of such
series and the maintenance of an office or agency for payments, (c) the
rights, powers, trust, duties and immunities of the Trustee and the Company’s
obligations in connection therewith and (d) the Legal Defeasance
provisions of this Indenture. In addition, the Company may, at its option and
at any time, elect to have the obligations of the Company released with respect
to covenants provided with respect to such series of Securities under Section 2.01(16),
9.01(4) and 9.01(7) of this Indenture (“Covenant Defeasance”) and
thereafter any omission to comply with such obligations shall not constitute a
Default or Event of Default with respect to such series of Securities. In the
event of Covenant Defeasance, those events described under Section 6.01(a) with
respect to the foregoing covenants will no longer constitute an Event of
Default with respect to such series of Securities.

 

In order to exercise
either Legal Defeasance or Covenant Defeasance:

 

(1) the Company must
irrevocably deposit with the Trustee, in trust, for the benefit of the Holders
of such series, (A) moneys in an amount, or (B) noncallable
Governmental Obligations the scheduled principal of and interest on which in
accordance with their terms will provide, not later than the due date of any
payment, money in an amount, or (C) a combination thereof, sufficient, in
the case of (B) or (C), in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof
delivered to the Trustee, to pay and discharge, at maturity or upon redemption,
the principal of (and premium, if any) and interest on such series of
Securities on the stated date for payment thereof or on the applicable
redemption date, as the case may be;

 

(2) in the case of
Legal Defeasance, the Company shall have delivered to the Trustee an Opinion of
Counsel confirming that (A) the Company has received from, or there has
been published by, the Internal Revenue Service a ruling or (B) since the
date of this Indenture, there has been a change in the applicable federal
income tax law, in either case to the effect that, and based thereon such
Opinion of Counsel shall confirm that, the Holders of such series of Securities
will not recognize income, gain or loss for federal income tax purposes as a
result of such Legal Defeasance and will be subject to federal income tax on
the same amounts, in the same manner and at the same times as would have been
the case if such Legal Defeasance had not occurred;

 

37

 

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

 

(4) no Default or
Event of Default shall have occurred and be continuing on the date of such
deposit or insofar as Events of Default under clauses (4) and (5) of Section 6.01(a) with
respect to the Securities of such series are concerned, at any time in the
period ending on the 91st day after the date of deposit;

 

(5) the Company
shall have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent provided for or relating to
the Legal Defeasance or the Covenant Defeasance, as the case may be, have been
complied with; and

 

(6) if such series
of Securities are to be redeemed prior to final maturity (other than from
mandatory sinking fund payments or analogous payments), notice of such
redemption shall have been duly given pursuant to this Indenture or provision
therefor satisfactory to the Trustee shall have been made.

 

SECTION 11.03
DEPOSITED MONEYS TO BE HELD IN TRUST.

 

All moneys or
Governmental Obligations deposited with the Trustee pursuant to
Sections 11.01 or 11.02 shall be held in trust and shall be available for
payment as due, either directly or through any paying agent (including the
Company acting as its own paying agent), to the Holders of the particular
series of Securities for the payment or redemption of which such moneys or
Governmental Obligations have been deposited with the Trustee.  Funds held pursuant to this Section with
respect to any series of Securities shall not be subject to the claims of the
holders of Senior Indebtedness with respect to such series, provided, that at
the time of the deposit of such funds with the Trustee under this Article, no
event had occurred that would, under the subordination provisions related to
such series, require that any payment to be made to the holders of such
Securities be paid or paid over to the holders of such Senior Indebtedness.

 

SECTION 11.04
PAYMENT OF MONEYS HELD BY PAYING AGENTS.

 

In connection with the
satisfaction and discharge of this Indenture all moneys or Governmental
Obligations then held by any paying agent under the provisions of this
Indenture shall, upon demand of the Company, be paid to the Trustee and
thereupon such paying agent shall be released from all further liability with
respect to such moneys or Governmental Obligations.

 

SECTION 11.05
REPAYMENT TO COMPANY.

 

Any moneys or
Governmental Obligations deposited with any paying agent or the Trustee, or
then held by the Company, in trust for payment of principal of (or premium, if
any) or interest on the Securities of a particular series that are not applied
but remain unclaimed by the Holders of such Securities for at least two years
after the date upon which the principal of (and premium, if any) or interest on
such Securities shall have respectively become due and payable, shall be repaid
to the Company on May 31 of each year or (if then held by the Company)
shall be discharged from such trust; and thereupon the paying agent and the
Trustee shall be released from all further liability with respect to such
moneys or Governmental Obligations, and the Holder of any of the Securities
entitled to receive such payment shall thereafter, as an unsecured general
creditor, look only to the Company for the payment thereof.

 

38

 

ARTICLE XII

IMMUNITY OF INCORPORATORS,

STOCKHOLDERS, OFFICERS AND DIRECTORS

 

SECTION 12.01
NO RECOURSE.

 

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

 

ARTICLE XIII

MISCELLANEOUS PROVISIONS

 

SECTION 13.01
EFFECT ON SUCCESSORS AND ASSIGNS.

 

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

 

SECTION 13.02
ACTIONS BY SUCCESSOR.

 

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

 

SECTION 13.03
SURRENDER OF COMPANY POWERS.

 

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

 

SECTION 13.04
NOTICES.

 

Except as otherwise
expressly provided herein, any notice or demand that by any provision of this
Indenture is required or permitted to be given or served by the Trustee or by
the Holders of Securities to or on the Company may be given or served by being
deposited first class postage prepaid in a post-office letterbox addressed
(until another address is filed in writing by the Company with the Trustee), as
follows: Attn: General Counsel, Stanley, Inc., 3101 Wilson Boulevard, Suite 700,
Arlington, Virginia 22201. Any notice, election, request or demand by the
Company or any Securityholder to or upon the Trustee shall be deemed to have
been sufficiently given or made, for all purposes, if given or made in writing
at the Corporate Trust Office of the Trustee.

 

39

 

SECTION 13.05 GOVERNING LAW;
WAIVER OF TRIAL BY JURY.

 

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

 

EACH PARTY HERETO, AND
EACH HOLDER OF A SECURITY BY ACCEPTANCE THEREOF, HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN RESPECT OF ANY LITIGATION RELATING TO THE TRUSTEE DIRECTLY OR INDIRECTLY
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS INDENTURE

 

SECTION 13.06
TREATMENT OF SECURITIES AS DEBT.

 

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

 

SECTION 13.07
COMPLIANCE CERTIFICATES AND OPINIONS.

 

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

 

(b) Each certificate
or opinion provided for in this Indenture and delivered to the Trustee with
respect to compliance with a condition or covenant in this Indenture shall
include

 

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

 

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

 

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

 

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

 

SECTION 13.08
PAYMENTS ON BUSINESS DAYS.

 

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

 

40

 

SECTION 13.09 CONFLICT WITH
TRUST INDENTURE ACT.

 

If and to the extent that
any provision of this Indenture limits, qualifies or conflicts with the duties
imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act,
such imposed duties shall control. If any provision of this Indenture modifies
or excludes any provision of the Trust Indenture Act which may be so modified
or excluded, the latter provision shall be deemed to apply to this Indenture as
so modified or to be excluded, as the case may be.

 

SECTION 13.10
COUNTERPARTS.

 

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

 

SECTION 13.11
SEPARABILITY.

 

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

 

SECTION 13.12
ASSIGNMENT.

 

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

 

SECTION 13.13
FORCE MAJEURE.

 

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

 

ARTICLE
XIV

SUBORDINATION OF SECURITIES

 

SECTION 14.01
SUBORDINATION TERMS.

 

The payment by the
Company of the principal of, premium, if any, and interest on any series of
Securities issued hereunder shall be subordinated to the extent set forth in an
indenture supplemental hereto relating to such securities.

 

41

 

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

 

 

	
   

  	
  STANLEY, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [BANK], as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

42

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