Document:

exv4w2

 

Exhibit 4.2

UNITEDHEALTH GROUP INCORPORATED

$250,000,000 4.75% Notes due February 10, 2014

Officers’ Certificate and Company Order

     Pursuant to the Senior Debt Securities Indenture dated as of November 15,
1998, as amended by an Amendment to Indenture dated November 6, 2000
(collectively, the “Indenture”), between UnitedHealth Group Incorporated, a
Minnesota corporation (the “Company”), and The Bank of New York, as Trustee
(the “Trustee”) and resolutions adopted by the Company’s Board of Directors on
February 3, 2004, this Officers’ Certificate and Company Order is being
delivered to the Trustee to establish the terms of a series of Securities in
accordance with Section 301 of the Indenture, to establish the form of the
Securities of such series in accordance with Section 201 of the Indenture, to
request the authentication and delivery of the Securities of such series
pursuant to Section 303 of the Indenture and to comply with the provisions of
Section 104 of the Indenture. This Officers’ Certificate and Company Order
shall be treated for all purposes under the Indenture as a supplemental
indenture thereto.

     All conditions precedent provided for in the Indenture relating to (i) the
establishment of a series of Securities, (ii) the establishment of the form of
Securities of such series and (iii) the procedures for authentication and
delivery of such series of securities have been complied with.

     Capitalized terms used herein and not otherwise defined herein shall have
the meanings assigned to them in the Indenture.

     A.     Establishment of a series of Securities pursuant to Section 301 of the
Indenture.

     There is hereby established pursuant to Section 301 of the Indenture a
series of Securities which shall have the following terms:

          (1) The Securities shall bear the title “4.75% Notes due February 10,
2014” (referred to herein as the “Notes”).

          (2) The aggregate principal amount of the Notes to be issued pursuant to
this Officers’ Certificate and Company Order shall be limited to $250,000,000
except for (a) Notes authenticated and delivered upon registration of, transfer
of, or in exchange for, or in lieu of, other Notes pursuant to Section 304,
305, 306, 1007 or 1205 of the Indenture, (b) Notes which, pursuant to Section
303 of the Indenture, are deemed never to have been authenticated and delivered
thereunder and (c) any Securities of this series which are issued in the manner
contemplated by paragraph 18 hereof.

          (3) Interest will be payable to the Person in whose name a Note (or any
Predecessor Security) is registered at the close of business on the Regular
Record Date (as defined below) immediately preceding each Interest Payment Date
(as defined below). In the event that a payment of principal or interest is
due on a date that is not a Business Day (as defined below), the related
payment of principal or interest shall be made on the next succeeding Business
Day with the same force and effect as if made on the date such payment was due,
and

 

 

no interest shall accrue on the amount so payable for the period from and
after such Interest Payment Date or date of Maturity, as the case may be.
“Business Day” shall mean any day other than a Saturday, a Sunday or a legal
holiday in The City of New York on which banking institutions are authorized or
required by law, regulation or executive order to close.

          (4) The Stated Maturity Date of the Notes shall be February 10, 2014.

          (5) (A) The Notes shall bear interest at the rate of 4.75% per annum
(based upon a 360-day year of twelve 30-day months), from February 10, 2004 or
from the most recent Interest Payment Date to which interest has been paid or
duly provided for, as the case may be, payable
semi-annually on February 10 and August 10 in each year, commencing August
10, 2004, until the principal thereof is paid or made available for payment.
Each such February 10 and August 10 shall be an “Interest Payment Date” for the
Notes, and each February 1 and August 1 (whether or not a Business Day), as the
case may be, immediately preceding an Interest Payment Date for the Notes shall
be the “Regular Record Date” for the interest payable on such Interest Payment
Date.

               (B) The provision related to interest on overdue principal in Section 501
of the Indenture shall not be applicable to the Notes.

          (6) Principal of (and premium, if any) and interest on the Notes will be
payable, and, except as provided in Section 305 of the Indenture with respect
to a Global Security (as defined below), the transfer of the Notes will be
registrable and Notes will be exchangeable for notes bearing identical terms
and provisions at the corporate trust office of The Bank of New York, in the
City of New York, New York, provided, however, that payment of principal or
interest may be made at the option of the Company by check mailed to the Person
entitled thereto as shown on the Security Register.

          (7) The Notes will be redeemable as follows:

		
	 	     The Notes will be subject to redemption, in whole or in part at any
time before their Stated Maturity, at the option of the Company at a
Redemption Price equal to the greater of (i) 100% of the principal amount
of the Notes to be redeemed and (ii) the sum of the present values of the
remaining scheduled payments of principal and interest on the Notes to be
redeemed (excluding the portion of any such interest accrued to the
Redemption Date) discounted to the Redemption Date on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the
Treasury Yield (as defined below), plus 15 basis points, plus, in each
case, accrued and unpaid interest to the Redemption Date. For this
purpose, the following terms have the following meanings:

	 	•	 	“Treasury Yield” means, with respect to any Redemption Date,
the rate per year equal to the semi-annual equivalent yield to
maturity or interpolated (on a day count basis) yield to maturity of
the Comparable Treasury Issue, assuming a price for the Comparable
Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such Redemption Date.

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	 	•	 	“Comparable Treasury Issue” means, the United States Treasury
security selected by an Independent Investment Banker appointed by
the Trustee after consultation with the Company as having an actual
or interpolated maturity comparable to the remaining term of the
Notes being redeemed, or such other maturity, that would be
utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the Notes
being redeemed.
	 
	 	•	 	“Comparable Treasury Price” means, with respect to any
Redemption Date, (i) the average of the Reference Treasury Dealer
Quotations for such Redemption Date,
after excluding the highest and lowest such Reference Treasury
Dealer Quotations for such Redemption Date, or (ii) if the Trustee
obtains fewer than four such Reference Treasury Dealer Quotations,
the average of all such Reference Treasury Dealer Quotations.
	 
	 	•	 	“Independent Investment Banker” means any of J.P. Morgan
Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated
and UBS Securities LLC or their respective successors or, if such
firms are unwilling or unable to select the Comparable Treasury
Issue, one of the remaining Reference Treasury Dealers appointed by
the Trustee after consultation with the Company.
	 
	 	•	 	“Reference Treasury Dealer” means (i) any of J.P. Morgan
Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated
and UBS Securities LLC or their affiliates and any other primary
U.S. Government securities dealer in the United States (a “Primary
Treasury Dealer”) designated by, and not affiliated with, any of
J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated or UBS Securities LLC, provided, however, that if any
of J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner &
Smith Incorporated or UBS Securities LLC or any of their respective
affiliates shall cease to be a Primary Treasury Dealer, the Company
will appoint another Primary Treasury Dealer as a substitute for
such entity and (ii) any other Primary Treasury Dealer selected by
the Trustee.
	 
	 	•	 	“Reference Treasury Dealer Quotations” means, with respect to
each Reference Treasury Dealer and any Redemption Date, the average,
as determined by the Trustee, of the bid and asked prices for the
Comparable Treasury Issue (expressed, in each case, as a percentage
of its principal amount) quoted in writing to the Trustee by such
Reference Treasury Dealer at 5:00 p.m. on the third business day
preceding such Redemption Date.

		
	 	     A notice of redemption may provide that it is subject to certain
conditions that will be specified in the notice. If those conditions are
not met, the redemption notice will be of no effect and the Company will
not be obligated to redeem the Notes.
	 
	 	     A partial redemption of the Notes may be effected on a pro rata
basis (and in such manner as complies with applicable legal and stock
exchange requirements, if any) or in such method as the Trustee, in the
exercise of its reasonable discretion, deems

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	 	fair and appropriate. The
Trustee may provide for the selection for redemption of portions in
amounts of $1,000 or whole multiples of $1,000; except that if all of the
Notes of a Holder are to be redeemed, the entire outstanding amount of
Notes held by such Holder, even if not a multiple of $1,000, shall be
redeemed.
	 
	 	     Notice of any redemption will be mailed at least 30 days but not
more than 60 days before the Redemption Date to each Holder of the Notes
to be redeemed.
	 
	 	     Unless any Note called for redemption shall not be paid upon
surrender thereof for redemption, on and after the Redemption Date
interest will cease to accrue on the Notes or portions thereof called for
redemption.

          (8) The Company shall not be obligated to redeem or purchase any Notes
pursuant to any sinking fund or analogous provisions or at the option of the
Holder.

          (9) The Notes shall not be convertible into shares of Common Stock of the
Company or exchangeable for any other securities.

          (10) The Trustee shall be the Security Registrar and the Paying Agent.

          (11) The amount of payments of principal of and any premium or interest on
the Notes will not be determined with reference to an index.

          (12) The Notes shall be subject to the covenants and definitions set forth
in the Indenture.

          (13) The Notes will be issued only in fully registered form and the
minimum initial purchase amounts of the Notes shall be $1,000 and any integral
multiple of $1,000 in excess thereafter.

          (14) The Notes shall be subject to the Events of Default specified in
Section 701, paragraphs (i) through (viii), of the Indenture.

          (15) The portion of the principal amount of the Notes which shall be
payable upon declaration of acceleration of maturity thereof shall not be less
than the principal amount thereof.

          (16) The Notes will be deposited with, or on behalf of, The Depository
Trust Company, New York, New York, as Depositary, and will be represented by a
global security (a “Global Security”) registered in the name of a nominee of
the Depositary. So long as the Depositary or its nominee is the registered
holder of any Global Security, the Depositary or its nominee, as the case may
be, will be considered the sole Holder of the Notes represented by such Global
Security for all purposes under the Indenture and the Notes.

          (17) The defeasance provisions set forth in Article IX of the Indenture
shall apply to the Notes.

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          (18) The Company may, so long as no Event of Default has occurred, without
the consent of the Holders of the Notes, issue additional notes with the same
terms as the Notes in accordance with the corporate authority existing at the
time of such additional issuance, and such additional notes shall be considered
part of the same series under the Indenture as the Notes. The Notes shall have
such other terms and provisions as are provided in the Global Security
representing the Notes substantially in the form attached as Exhibit A hereto.

          (19) The CUSIP number for the Notes is 91324PAH5.

     B.     Establishment of Forms of Securities Pursuant to Section 201 of
Indenture.

     It is hereby established pursuant to Section 201 of the Indenture that the
Global Security representing the Notes shall be substantially in the form
attached as Exhibit A hereto.

     C.     Order for the Authentication and Delivery of Securities Pursuant to
Section 303 of the Indenture.

     It is hereby ordered pursuant to Section 303 of the Indenture that the
Trustee authenticate, in the manner provided by the Indenture, the Notes in the
aggregate principal amount of $250,000,000 registered in the name of Cede &
Co., which Notes have been heretofore duly executed by the proper officers of
the Company and delivered to you as provided in the Indenture, and to deliver
said authenticated Notes to or on behalf of The Depository Trust Company on or
before 9:00 a.m., Eastern Standard Time, on February 10, 2004.

     D.     Other Matters.

     Attached as Exhibit B hereto are true and correct copies of resolutions
adopted by the Board of Directors of the Company at a meeting on February 3,
2004; such resolutions have not been further amended, modified or rescinded and
remain in full force and effect; and such resolutions (together with this
Officers’ Certificate and Company Order) are the only resolutions or other
action adopted by the Company’s Board of Directors or any committee thereof or
by any officers of the Company relating to the offering and sale of the Notes.

     The undersigned Chief Financial Officer being an Authorized Representative
as defined in the resolutions of the Board of Directors of the Company adopted
at a meeting on February 3, 2004 certifies that (i) he has approved the terms
of the Notes as set forth in this Officers’ Certificate and Company Order, (ii)
he has approved and ratified the terms and form of the Underwriting Agreement
dated February 5, 2004 and the Pricing Agreement dated February 5, 2004 (the
“Pricing Agreement”) among the Company and J.P. Morgan Securities Inc., Merrill
Lynch, Pierce, Fenner & Smith Incorporated and UBS Securities LLC, as
representatives of the several Underwriters named in Schedule I to the Pricing
Agreement and (iii) he has approved and ratified the Indenture, all in
accordance with the authority of such officer pursuant to such resolutions.

     The undersigned have read the pertinent sections of the Indenture
including the related definitions contained therein. The undersigned have
examined the resolutions adopted by the Board of Directors of the Company. In
the opinion of the undersigned, the undersigned have

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made such examination or
investigation as is necessary to enable the undersigned to express an informed
opinion as to whether or not the conditions precedent to (i) the establishment
of the Notes, (ii) the establishment of the forms of the Notes and (iii) the
authentication of the Notes,
contained in the Indenture have been complied with. In the opinion of the
undersigned, such conditions have been complied with.

     Faegre & Benson LLP and Dorsey & Whitney LLP are entitled to rely on this
Officers’ Certificate and Company Order in connection with the opinion they are
rendering pursuant to Sections 7(b) and 7(c), respectively, of the Underwriting
Agreement.

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     IN WITNESS WHEREOF, the undersigned have executed this Officers’
Certificate and Company Order this 5th day of February 2004.

	 	 	 
	 	 	
UNITEDHEALTH GROUP INCORPORATED
	 	 	 
	 	 	

	 	 	
Patrick J. Erlandson
	 	 	
Chief Financial Officer
	 	 	 
	 	 	

	 	 	
Robert W. Oberrender
	 	 	
Treasurer

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Exhibit 4.3

     THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE SENIOR DEBT
SECURITIES INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY (AS DEFINED IN THE INDENTURE) OR A NOMINEE THEREOF. THIS NOTE IS
EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE
DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES
IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO
THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY
SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY.

     UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO THE COMPANY (AS DEFINED
BELOW) OR TO ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME
AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

	 	 	 	 	 
	REGISTERED	 	
UNITEDHEALTH GROUP
	 	$250,000,000
	 	 	
INCORPORATED
	 	CUSIP
	No. 1	 	
3.75% Notes due February 10, 2009
	 	No. 91324PAG7

     UNITEDHEALTH GROUP INCORPORATED, a Minnesota corporation
(hereinafter called the “Company,” which term includes any successor
corporation under the Indenture referred to below), for value received, hereby
promises to pay to CEDE & CO., or registered assigns, the principal sum of TWO
HUNDRED FIFTY MILLION Dollars ($250,000,000) on February 10, 2009 (the “Stated
Maturity”), and to pay interest thereon from February 10, 2004 or from the most
recent date to which interest has been paid or duly provided for, semi-annually
on February 10 and August 10 in each year (each, an “Interest Payment Date”),
commencing August 10, 2004, and at Maturity, at the rate of 3.75% per annum,
until the principal hereof is paid or duly made available for payment.
Interest on this Note shall be calculated on the basis of a 360-day year
consisting of twelve 30-day months. The interest so payable and punctually
paid or duly provided for on any Interest Payment Date will, as provided in
such Indenture, be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on the “Regular
Record Date” for such interest, which shall be the February 1 or August 1
(whether or not a Business Day, as hereinafter defined) next preceding each
such Interest Payment Date. Any such interest which is payable, but is not
punctually paid or duly provided for, on any Interest Payment Date shall
forthwith cease to be payable to the registered Holder hereof on the relevant
Regular Record Date by virtue of having been such Holder, and

 

 

may be paid (i) to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice whereof shall be given to the Holder of this Note not less than
10 days prior to such Special Record Date or (ii) in any other lawful manner
not inconsistent with the requirements of any securities exchange on which this
Note 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 (ii), such manner of payment shall be deemed
practicable by the Trustee. In the event that a payment of principal or
interest is due on a date that is not a Business Day (as defined below), the
related payment of principal or interest shall be made on the next succeeding
Business Day with the same force and effect as if made on the date such payment
was due, and no interest shall accrue on the amount so payable for the period
from and after such Interest Payment Date or date of Maturity, as the case may
be. “Business Day” shall mean any day other than a Saturday, a Sunday or a
legal holiday in The City of New York on which banking institutions are
authorized or required by law, regulation or executive order to close.

     Payment of the principal of and the interest on this Note will be made at
the office or agency of the Company maintained for that purpose in The City of
New York, in such coin or currency of the United States of America as at the
time of payment is legal tender for payment of public and private debts;
provided, however, that, at the option of the Company, interest may be paid by
check mailed to the address of the Person entitled thereto as such address
shall appear in the Security Register. Payment of the principal of and
interest on this Note due at Maturity will be made in immediately available
funds upon presentation of this Note.

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

     Unless the certificate of authentication hereon has been executed by or on
behalf of the Trustee under the Indenture by the manual signature of one of its
authorized signatories, this Note shall not be entitled to any benefits under
the Indenture or be valid or obligatory for any purpose.

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     IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.

Dated: February 10, 2004

	 	 	 	 	 
	 	 	UNITEDHEALTH GROUP 
INCORPORATED
	 	 	 	 	 
	 	 	
By:
	

	 	 	  
Name: Patrick J. Erlandson
	 	 	  
Title: Chief Financial Officer
	 	 	 	 	 
	 	 	
Attest:
	 	

	 	 	  
Name: Rina Lyubkin
	 	 	  
Title: Assistant Secretary
	 	 	 	 	 
	TRUSTEE’S CERTIFICATE OF
AUTHENTICATION	 	 	 	 
	 	 	 	 	 
	This is one of the Securities
of the series designated
herein and issued pursuant to
the within-mentioned
Indenture.	 	 	 	 
	 	 	 	 	 
	Dated: February 10, 2004	 	 	 	 
	 	 	 	 	 
	THE BANK OF NEW YORK, 
as Trustee	 	 	 	 

	 	 	 	 
	By:	 	

	 	 	
Authorized Signatory

UnitedHealth Group Incorporated

3.75% Notes due February 10, 2009

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[REVERSE SIDE OF NOTE]

     This Note is one of a duly authorized issue of securities of the Company
(herein called the “Notes”) issued and to be issued in one or more series under
a Senior Debt Securities Indenture dated as of November 15, 1998, as amended
by an Amendment to Indenture dated as of November 6, 2000, as further
supplemented by an Officers’ Certificate and Company Order dated February 5,
2004 pursuant to Section 301 of the Senior Debt Securities Indenture, as
amended (together, the “Indenture”) between the Company and The Bank of New
York, as Trustee (herein called the “Trustee,” which term includes any
successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Notes, and the terms upon which the Notes
are, and are to be, authenticated and delivered. This Note is one of the
series designated on the face hereof, limited in initial aggregate principal
amount to $250,000,000; provided, however, that the Company may, so long as no
Event of Default has occurred and is continuing, without the consent of the
Holders of the Notes of this series, issue additional notes with the same terms
as the Notes of this series, and such additional notes shall be considered part
of the same series under the Indenture as the Notes of this series.

     The Notes will not be entitled to any sinking fund.

Redemption

     The Notes are redeemable, in whole or in part at any time before the
Stated Maturity, at the option of the Company at a Redemption Price equal to
the greater of (i) 100% of the principal amount of the Notes to be redeemed and
(ii) the sum of the present values of the remaining scheduled payments of
principal and interest on the Notes to be redeemed (excluding the portion of
any such interest accrued to the Redemption Date) discounted to the Redemption
Date on a semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at the Treasury Yield (as defined below), plus 10 basis points,
plus, in each case, accrued and unpaid interest to the Redemption Date. For
this purpose, the following terms have the following meanings:

	 	•	 	“Treasury Yield” means, with respect to any Redemption Date,
the rate per year equal to the semi-annual equivalent yield to
maturity or interpolated (on a day count basis) yield to maturity of
the Comparable Treasury Issue, assuming a price for the Comparable
Treasury Issue (expressed as a percentage of its principal amount)
equal to the Comparable Treasury Price for such Redemption Date.
	 
	 	•	 	“Comparable Treasury Issue” means the United States Treasury
security selected by an Independent Investment Banker appointed by
the Trustee after consultation with the Company as having an actual
or interpolated maturity comparable to the remaining term of the
Notes being redeemed, or such other maturity, that would be
utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt
securities of comparable maturity to the remaining term of the Notes
being redeemed.
	 
	 	•	 	“Comparable Treasury Price” means, with respect to any
Redemption Date, (i) the average of the Reference Treasury Dealer
Quotations for such Redemption Date, after

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	 	 	 	excluding the highest and lowest such Reference Treasury Dealer
Quotations for such Redemption Date, or (ii) if the Trustee obtains
fewer than four such Reference Treasury Dealer Quotations, the average
of all such Reference Treasury Dealer Quotations.
	 
	 	•	 	“Independent Investment Banker” means any of J.P. Morgan
Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated
or UBS Securities LLC or their respective successors or, if such
firms are unwilling or unable to select the Comparable Treasury
Issue, one of the remaining Reference Treasury Dealers appointed by
the Trustee after consultation with the Company.
	 
	 	•	 	“Reference Treasury Dealer” means (i) any of J.P. Morgan
Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated
and UBS Securities LLC or their affiliates and any other primary
U.S. Government securities dealer in the United States (a “Primary
Treasury Dealer”) designated by, and not affiliated with, any of
J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated or UBS Securities LLC, provided, however, that if any
of J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner &
Smith Incorporated or UBS Securities LLC or any of their respective
affiliates shall cease to be a Primary Treasury Dealer, the Company
will appoint another Primary Treasury Dealer as a substitute for
such entity and (ii) any other Primary Treasury Dealer selected by
the Trustee.
	 
	 	•	 	“Reference Treasury Dealer Quotations” means, with respect to
each Reference Treasury Dealer and any Redemption Date, the average,
as determined by the Trustee, of the bid and asked prices for the
Comparable Treasury Issue (expressed, in each case, as a percentage
of its principal amount) quoted in writing to the Trustee by such
Reference Treasury Dealer at 5:00 p.m. on the third business day
preceding such Redemption Date.

     A notice of redemption may provide that it is subject to certain
conditions that will be specified in the notice. If those conditions are not
met, the redemption notice will be of no effect and the Company will not be
obligated to redeem this Note.

     A partial redemption of the Notes may be effected on a pro rata basis (and
in such manner as complies with applicable legal and stock exchange
requirements, if any) or in such method as the Trustee, in the exercise of its
reasonable discretion, deems fair and appropriate. The Trustee may provide for
the selection for redemption of portions in amounts of $1,000 or whole
multiples of $1,000; except that if all of the Notes of a Holder are to be
redeemed, the entire outstanding amount of Notes held by such Holder, even if
not a multiple of $1,000, shall be redeemed.

     Notice of any redemption will be mailed at least 30 days but not more than
60 days before the Redemption Date to each Holder of the Notes to be redeemed.

     Unless any Note called for redemption shall not be paid upon surrender
thereof for redemption, on and after the Redemption Date interest will cease to
accrue on the Notes or portions thereof called for redemption.

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Miscellaneous Provisions

     If an Event of Default with respect to the Notes shall occur and be
continuing, the principal of the Notes may be declared due and payable in the
manner and with the effect provided in the Indenture.

     The Indenture contains provisions for defeasance at any time of the
Company’s obligations in respect of (i) the entire indebtedness of this Note or
(ii) certain restrictive covenants with respect to this Note, in each case upon
compliance with certain conditions set forth therein.

     The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series issued
under the Indenture at any time by the Company and the Trustee with the consent
of the Holders of not less than a majority in aggregate principal amount of the
Securities of all series at the time Outstanding affected thereby. The
Indenture also contains provisions permitting the Holders of specified
percentages in aggregate principal amount of the Securities of any series at
the time Outstanding to waive certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Note
shall be conclusive and binding upon such Holder and upon all future Holders of
this Note and of any Notes issued upon the registration of transfer hereof or
in exchange herefor or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Note.

     No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of (and premium, if any) and
interest on this Note, at the time, place and rate, and in the coin or
currency, herein and in the Indenture prescribed.

     As provided in the Indenture and subject to certain limitations set forth
therein and in this Note, the transfer of this Note is registrable in the
registry books of the Company, upon surrender of this Note for registration of
transfer at the office or agency of the Company where the principal of (and
premium, if any) and interest on this Note are payable, duly endorsed, or
accompanied by a written instrument of transfer in form satisfactory to the
Company and the Trustee, duly executed by the Holder hereof or by his attorney
duly authorized in writing, and thereupon one or more new Notes, of authorized
denominations and for the same aggregate principal amount, will be issued to
the designated transferee or transferees.

     The Notes of this series are issuable only in fully registered form
without coupons in minimal initial purchase amounts of $1,000 and any amount in
excess thereafter which is an integral multiple of $1,000. As provided in the
Indenture and subject to certain limitations therein set forth, Notes of this
series are exchangeable for a like aggregate principal amount of Notes of this
series which are of like tenor for any authorized denomination, as requested by
the Holder surrendering the same.

     No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith, other than in
certain cases provided in the Indenture.

- 6 -

 

     Prior to due presentment of this Note for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Note is registered as the owner hereof for all
purposes, whether or not this Note be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

     This Note shall be governed by and construed in accordance with the laws
of the State of New York, without regard to its conflicts of laws provisions.

     All capitalized terms used in this Note which are not defined herein shall
have the meanings assigned to them in the Indenture.

- 7 -

 

ABBREVIATIONS

     The following abbreviations, when used in this instrument, shall be
construed as though they were written out in full according to applicable laws
or regulations:

		
	 	     TEN COM—as tenants in common
	 
	 	     TEN ENT—as tenants by the entireties
	 
	 	     JT TEN—as joint tenants with right of survivorship
and not as tenants in common

	 	 	 	 
	UNIF GIFT MIN ACT—	

	Custodian
	

	 	
(Cust)
	 	(Minor)

under Uniform Gift to Minors Act

(State)

Additional abbreviations may be used though not in the above list.

- 8 -

 

     FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto

PLEASE INSERT SOCIAL SECURITY OR

OTHER IDENTIFYING NUMBER OF

ASSIGNEE

(Name and address of assignee, including zip code, must be printed or typewritten)

the within Note, and all rights thereunder, hereby irrevocably constituting and appointing

Attorney to transfer said Note on the books of the within Company, with full
power of substitution in the premises

	 	 	 	 	 
	Dated	 	

	 	

	 	 	 	 	 
	 	 	 	 	

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

     SIGNATURE GUARANTEE: Signatures must be guaranteed by an “eligible
institution” meeting the requirements of the Security Registrar, which
requirements include membership or participation in the Security Transfer Agent
Medallion Program (“STAMP”) or such other “signature guarantee program” as may
be determined by the Security Registrar in addition to, or in substitution for,
STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

- 9 -

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