Document:

Exhibit 4.1

 

EXECUTION
COPY

 

US ONCOLOGY HOLDINGS, INC.

 

Senior Floating Rate Notes Due 2015

 

 

INDENTURE

 

DATED AS OF MARCH 29, 2005

 

 

LASALLE BANK NATIONAL ASSOCIATION

 

Trustee

 

 

TABLE OF
CONTENTS

 

	
  ARTICLE I

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Definitions and Incorporation by Reference

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 1.01. Definitions

  	
   

  	
   

  
	
  SECTION 1.02.
  Other Definitions

  	
   

  	
   

  
	
  SECTION 1.03. Incorporation by Reference of
  Trust Indenture Act

  	
   

  	
   

  
	
  SECTION 1.04. Rules of Construction

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  The Securities

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 2.01. Amount of Securities;
  Issuable in Series

  	
   

  	
   

  
	
  SECTION 2.02. Form and Dating

  	
   

  	
   

  
	
  SECTION 2.03. Execution and Authentication

  	
   

  	
   

  
	
  SECTION 2.04. Registrar and Paying Agent

  	
   

  	
   

  
	
  SECTION 2.05. Paying Agent To Hold Money in
  Trust

  	
   

  	
   

  
	
  SECTION 2.06. Securityholder Lists

  	
   

  	
   

  
	
  SECTION 2.07. Replacement Securities

  	
   

  	
   

  
	
  SECTION 2.08. Outstanding Securities

  	
   

  	
   

  
	
  SECTION 2.09. Temporary Securities

  	
   

  	
   

  
	
  SECTION 2.10. Cancelation

  	
   

  	
   

  
	
  SECTION 2.11. Defaulted Interest

  	
   

  	
   

  
	
  SECTION 2.12. CUSIP Numbers

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE III

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Redemption

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 3.01. Notices to Trustee

  	
   

  	
   

  
	
  SECTION 3.02. Selection of Securities To Be
  Redeemed

  	
   

  	
   

  
	
  SECTION 3.03. Notice of Redemption

  	
   

  	
   

  
	
  SECTION 3.04. Effect of Notice of
  Redemption

  	
   

  	
   

  
	
  SECTION 3.05. Deposit of Redemption Price

  	
   

  	
   

  
	
  SECTION 3.06. Securities Redeemed in Part

  	
   

  	
   

  

 

i

 

	
  ARTICLE IV

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Covenants

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 4.01. Payment of Securities

  	
   

  	
   

  
	
  SECTION 4.02. Reports

  	
   

  	
   

  
	
  SECTION 4.03. Limitation on Debt

  	
   

  	
   

  
	
  SECTION 4.04. Limitation on Restricted
  Payments

  	
   

  	
   

  
	
  SECTION 4.05. Limitation on Issuance or
  Sale of Capital Stock of Restricted Subsidiaries

  	
   

  	
   

  
	
  SECTION 4.06. Limitation on Asset Sales

  	
   

  	
   

  
	
  SECTION 4.07. Limitation on Restrictions on
  Distributions from Restricted Subsidiaries

  	
   

  	
   

  
	
  SECTION 4.08. Limitation on Transactions
  with Affiliates

  	
   

  	
   

  
	
  SECTION 4.09. Limitation on Liens

  	
   

  	
   

  
	
  SECTION 4.10. Limitation on Sale and
  Leaseback Transactions

  	
   

  	
   

  
	
  SECTION 4.11. Designation of Restricted and
  Unrestricted Subsidiaries

  	
   

  	
   

  
	
  SECTION 4.12. Limitation on Company’s
  Business

  	
   

  	
   

  
	
  SECTION 4.13. Change of Control

  	
   

  	
   

  
	
  SECTION 4.14. Future Subsidiary Guarantors

  	
   

  	
   

  
	
  SECTION 4.15. Further Instruments and Acts

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE V

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Successor Company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 5.01.
  When Company May Merge or Transfer Assets

  	
   

  	
   

  
	
  SECTION 5.02. Surviving Person

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Defaults and Remedies

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 6.01. Events of Default

  	
   

  	
   

  
	
  SECTION 6.02. Acceleration

  	
   

  	
   

  
	
  SECTION 6.03. Other Remedies

  	
   

  	
   

  
	
  SECTION 6.04. Waiver of Past Defaults

  	
   

  	
   

  
	
  SECTION 6.05. Control by Majority

  	
   

  	
   

  
	
  SECTION 6.06. Limitation on Suits

  	
   

  	
   

  
	
  SECTION 6.07. Rights of Holders to Receive
  Payment

  	
   

  	
   

  
	
  SECTION 6.08. Collection Suit by Trustee

  	
   

  	
   

  
	
  SECTION 6.09. Trustee May File Proofs of
  Claim

  	
   

  	
   

  
	
  SECTION 6.10. Priorities

  	
   

  	
   

  
	
  SECTION 6.11. Undertaking for Costs

  	
   

  	
   

  
	
  SECTION 6.12. Waiver of Stay or Extension
  Laws

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE VII

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Trustee

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 7.01. Duties of Trustee

  	
   

  	
   

  

 

ii

 

	
  SECTION 7.02. Rights of Trustee

  	
   

  	
   

  
	
  SECTION 7.03. Individual Rights of Trustee

  	
   

  	
   

  
	
  SECTION 7.04. Trustee’s Disclaimer

  	
   

  	
   

  
	
  SECTION 7.05. Notice of Defaults

  	
   

  	
   

  
	
  SECTION 7.06. Reports by Trustee to Holders

  	
   

  	
   

  
	
  SECTION 7.07. Compensation and Indemnity

  	
   

  	
   

  
	
  SECTION 7.08. Replacement of Trustee

  	
   

  	
   

  
	
  SECTION 7.09. Successor Trustee by Merger

  	
   

  	
   

  
	
  SECTION 7.10. Eligibility; Disqualification

  	
   

  	
   

  
	
  SECTION 7.11. Preferential Collection of
  Claims Against Company

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE VIII

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Discharge of Indenture; Defeasance

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 8.01. Discharge of Liability on
  Securities; Defeasance

  	
   

  	
   

  
	
  SECTION 8.02. Conditions to Defeasance

  	
   

  	
   

  
	
  SECTION 8.03. Application of Trust Money

  	
   

  	
   

  
	
  SECTION 8.04. Repayment to Company

  	
   

  	
   

  
	
  SECTION 8.05. Indemnity for Government
  Obligations

  	
   

  	
   

  
	
  SECTION 8.06. Reinstatement

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE IX

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Amendments

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 9.01. Without Consent of Holders

  	
   

  	
   

  
	
  SECTION 9.02. With Consent of Holders

  	
   

  	
   

  
	
  SECTION 9.03. Compliance with Trust
  Indenture Act

  	
   

  	
   

  
	
  SECTION 9.04. Revocation and Effect of
  Consents and Waivers

  	
   

  	
   

  
	
  SECTION 9.05. Notation on or Exchange of
  Securities

  	
   

  	
   

  
	
  SECTION 9.06. Trustee To Sign Amendments

  	
   

  	
   

  
	
  SECTION 9.07. Payment for Consent

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE X

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Subsidiary Guarantees

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 10.01. Subsidiary Guarantees

  	
   

  	
   

  
	
  SECTION 10.02. Contribution

  	
   

  	
   

  
	
  SECTION 10.03. Successors and Assigns

  	
   

  	
   

  
	
  SECTION 10.04. No Waiver

  	
   

  	
   

  
	
  SECTION 10.05. Modification

  	
   

  	
   

  
	
  SECTION 10.06. Execution of Supplemental
  Indenture for Future Subsidiary Guarantors

  	
   

  	
   

  
	
  SECTION 10.07. Limitation on Liability

  	
   

  	
   

  

 

iii

 

	
  SECTION 10.08. Release of Subsidiary
  Guarantor

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ARTICLE XI

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Miscellaneous

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION 11.01. Trust Indenture Act Controls

  	
   

  	
   

  
	
  SECTION 11.02. Notices

  	
   

  	
   

  
	
  SECTION 11.03. Communication by Holders
  with Other Holders

  	
   

  	
   

  
	
  SECTION 11.04. Certificate and Opinion as
  to Conditions Precedent

  	
   

  	
   

  
	
  SECTION 11.05. Statements Required in
  Certificate or Opinion

  	
   

  	
   

  
	
  SECTION 11.06. When Securities Disregarded

  	
   

  	
   

  
	
  SECTION 11.07. Rules by Trustee, Paying
  Agent and Registrar

  	
   

  	
   

  
	
  SECTION 11.08. Legal Holidays

  	
   

  	
   

  
	
  SECTION 11.09. Governing Law

  	
   

  	
   

  
	
  SECTION 11.10. No Recourse Against Others

  	
   

  	
   

  
	
  SECTION 11.11. Successors

  	
   

  	
   

  
	
  SECTION 11.12. Multiple Originals

  	
   

  	
   

  
	
  SECTION 11.13. Table of Contents; Headings

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Appendix A - 

  	
  Provisions Relating to Initial Securities
  and Exchange Securities

  Exhibit 1 to Appendix A - Form of Initial Security

  	
   

  	
   

  
	
  Exhibit A -

  	
  Form of Exchange Security

  	
   

  	
   

  
	
  Exhibit B -

  	
  Form of Supplemental Indenture

  	
   

  	
   

  

 

iv

 

CROSS-REFERENCE
TABLE

 

	
  Trust Note Indenture Act
  Section

  	
   

  	
  Indenture Section

  	
   

  
	
  Section 310

  	
  (a)(1)

  	
   

  	
  7.10

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
  7.10

  	
   

  
	
   

  	
  (a)(3)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (a)(4)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (b)

  	
   

  	
  7.08;
  7.10

  	
   

  
	
   

  	
  (c)

  	
   

  	
  N.A.

  	
   

  
	
  Section 311

  	
  (a)

  	
   

  	
  7.11

  	
   

  
	
   

  	
  (b)

  	
   

  	
  7.11

  	
   

  
	
   

  	
  (c)

  	
   

  	
  N.A.

  	
   

  
	
  Section 312

  	
  (a)

  	
   

  	
  2.06

  	
   

  
	
   

  	
  (b)

  	
   

  	
  11.03

  	
   

  
	
   

  	
  (c)

  	
   

  	
  11.03

  	
   

  
	
  Section 313

  	
  (a)

  	
   

  	
  7.06

  	
   

  
	
   

  	
  (b)(1)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (b)(2)

  	
   

  	
  7.06

  	
   

  
	
   

  	
  (c)

  	
   

  	
  11.02

  	
   

  
	
   

  	
  (d)

  	
   

  	
  7.06

  	
   

  
	
  Section 314

  	
  (a)

  	
   

  	
  4.02;
  11.02

  	
   

  
	
   

  	
  (b)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (c)(1)

  	
   

  	
  11.04

  	
   

  
	
   

  	
  (c)(2)

  	
   

  	
  11.04

  	
   

  
	
   

  	
  (c)(3)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (d)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (e)

  	
   

  	
  11.05

  	
   

  
	
   

  	
  (f)

  	
   

  	
  N.A.

  	
   

  
	
  Section 315

  	
  (a)

  	
   

  	
  7.01

  	
   

  
	
   

  	
  (b)

  	
   

  	
  7.05; 11.02

  	
   

  
	
   

  	
  (c)

  	
   

  	
  7.01

  	
   

  
	
   

  	
  (d)

  	
   

  	
  7.01

  	
   

  
	
   

  	
  (e)

  	
   

  	
  6.11

  	
   

  
	
  Section 316

  	
  (a)
  (last sentence)

  	
   

  	
  11.06

  	
   

  
	
   

  	
  (a)(1)(A)

  	
   

  	
  6.05

  	
   

  
	
   

  	
  (a)(1)(B)

  	
   

  	
  6.04

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (b)

  	
   

  	
  6.07

  	
   

  
	
   

  	
  (c)

  	
   

  	
  9.04

  	
   

  
	
  Section 317

  	
  (a)(1)

  	
   

  	
  6.08

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
  6.09

  	
   

  
	
   

  	
  (b)

  	
   

  	
  2.05

  	
   

  
	
  Section 318
  

  	
  (a)

  	
   

  	
  11.01

  	
   

  
	
   

  	
  (b)

  	
   

  	
  N.A.

  	
   

  
	
   

  	
  (c)

  	
   

  	
  11.01

  	
   

  

 

N.A. Means Not Applicable.

 

Note:  This Cross-Reference Table shall not, for any
purposes, be deemed to be part of this Indenture.

 

v

 

INDENTURE dated as of March 29, 2005,
between US Oncology Holdings, Inc., a Delaware corporation (the “Company”)
and LaSalle Bank National Association, a national banking association, as
Trustee (the “Trustee”).

 

Each party
agrees as follows for the benefit of the other party and for the equal and
ratable benefit of the Holders of the Company’s Senior Floating Rate Notes due
2015, to be issued, from time to time, in one or more series as in this
Indenture provided (the “Initial Securities”) and, if and when issued pursuant
to a registered or private exchange for the Initial Securities, the Company’s
Senior Floating Rate Notes due 2015 (the “Exchange Securities” and, together
with the Initial Securities, the “Securities”):

 

ARTICLE I

 

Definitions and Incorporation by Reference

 

SECTION 1.01. 
Definitions.

 

“Additional Assets” means:

 

(a) any
Property (other than cash, cash equivalents and securities) to be owned by the
Company or any Restricted Subsidiary and used in a Related Business; or

 

(b) Capital
Stock of a Person that becomes a Restricted Subsidiary as a result of the
acquisition of such Capital Stock by the Company or another Restricted
Subsidiary from any Person other than the Company or an Affiliate of the
Company; or

 

(c) Capital
Stock constituting a minority interest in any Person that at such time is a
Restricted Subsidiary;

 

provided, however, that, in the case of clause (b)
or (c), such Restricted Subsidiary is primarily engaged in a Related Business.

 

“Affiliate” of any specified Person
means any other Person directly or indirectly controlling or controlled by or
under direct or indirect common control with such specified Person.  For the purposes of this definition, “control”
when used with respect to any Person means the power to direct the management
and policies of such Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise; and the terms “controlling”
and “controlled” have meanings correlative to the foregoing.  For purposes of Sections 4.04, 4.06 and 4.08
and the definition of “Additional Assets” only, “Affiliate” shall also mean any
beneficial owner of shares representing 10% or more of the total voting power
of the Voting Stock (on a fully diluted basis) of the Company or of rights or
warrants to purchase such Voting

 

 

Stock (whether
or not currently exercisable) and any Person who would be an Affiliate of any
such beneficial owner pursuant to the first sentence hereof.

 

“Asset Sale” means any sale, lease,
transfer, issuance or other disposition (or series of related sales, leases,
transfers, issuances or dispositions) by the Company or any Restricted
Subsidiary, including any disposition by means of a merger, consolidation or
similar transaction (each referred to for the purposes of this definition as a “disposition”),
of

 

(a) any shares
of Capital Stock of a Restricted Subsidiary (other than directors’ qualifying
shares),

 

(b) all or
substantially all the properties and assets of any division or line of business
of the Company or any Restricted Subsidiary, or

 

(c) any other
assets of the Company or any Restricted Subsidiary outside of the ordinary
course of business of the Company or such Restricted Subsidiary,

 

other than, in
the case of clause (a), (b) or (c) above,

 

(1)  any disposition by a Restricted
Subsidiary to the Company or by the Company or a Restricted Subsidiary to a
Wholly Owned Restricted Subsidiary,

 

(2)  for purposes of Section 4.06
only, any disposition that constitutes a Permitted Investment or Restricted
Payment permitted by Section 4.04,

 

(3)  any disposition effected in compliance
with Article V,

 

(4)  sales or grants of licenses or
sublicenses to use the patents, trade secrets, know-how and other intellectual
property of the Company or the Restricted Subsidiaries to the extent such license
does not interfere with the business of the Company or any Restricted Subsidiary,

 

(5)  any exchange of tangible assets with a
Fair Market Value of less than $25,000,000 for like-kind tangible assets to be
used in connection with a Related Business, but only to the extent that such
exchange qualifies for nonrecognition of gain or loss under Section 1031
of the Code,

 

(6)  any disposition of cash or Temporary
Cash Investments,

 

(7)  any sale or disposition deemed to
occur in connection with creating or granting any Liens,

 

(8)  any surrender or waiver of contract
rights or the settlement, release or surrender of any contract, tort or other
claim of any kind,

 

2

 

(9)  the sale or discount, in each case, in
the ordinary course and without recourse, of accounts receivable arising in the
ordinary course of business, but only in connection with the compromise or
collection thereof,

 

(10)  any sale or disposition of obsolete
inventory or worn out assets permitted pursuant to this Indenture, and

 

(11)  a disposition of assets with a Fair Market
Value of less than $2,500,000.

 

“Attributable Debt” in respect of a
Sale and Leaseback Transaction means, at any date of determination,

 

(a) if such
Sale and Leaseback Transaction is a Capital Lease Obligation, the amount of
Debt represented thereby according to the definition of “Capital Lease
Obligation”, and

 

(b) in all
other instances, the present value (discounted at the interest rate borne by
the Securities, compounded annually) of the total obligations of the lessee for
rental payments during the remaining term of the lease included in such Sale
and Leaseback Transaction (including any period for which such lease has been
extended).

 

“Average Life” means, as of any date
of determination, with respect to any Debt or Preferred Stock, the quotient obtained
by dividing:

 

(a)  the sum of the product of the number
of years (rounded to the nearest one-twelfth of one year) from the date of
determination to the dates of each successive scheduled principal payment of
such Debt or redemption or similar payment with respect to such Preferred Stock
multiplied by the amount of such payment by

 

(b)  the sum of all such payments.

 

“Board of Directors” means the Board
of Directors of the Company or any committee thereof duly authorized to act on
behalf 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.

 

“Business Day” means each day which is
not a Legal Holiday.

 

“Capital Lease Obligations” means any
obligation under a lease that is required to be capitalized for financial
reporting purposes in accordance with GAAP; and the amount of Debt represented
by such obligation shall be the capitalized amount of such obligations
determined in accordance with GAAP; and the Stated Maturity thereof shall be
the date of the last payment of rent or any other amount due under such lease

 

3

 

prior to the
first date upon which such lease may be terminated by the lessee without
payment of a penalty.

 

“Capital Stock” means, with respect to
any Person, any shares or other equivalents (however designated) of any class
of corporate stock or partnership interests or any other participations,
rights, warrants, options or other interests in the nature of an equity
interest in such Person, including Preferred Stock, but excluding any debt
security convertible or exchangeable into such equity interest.

 

“Capital Stock Sale Proceeds” means
the aggregate cash proceeds received by the Company from the issuance or sale
(other than to a Subsidiary of the Company or an employee stock ownership plan
or trust established by the Company or any such Subsidiary for the benefit of
their employees) by the Company of its Capital Stock (other than Disqualified
Stock) after August 20, 2004, net of attorneys’ fees, accountants’ fees,
underwriters’ or placement agents’ fees, discounts or commissions and
brokerage, consultant and other fees actually incurred in connection with such
issuance or sale and net of taxes paid or payable as a result thereof.

 

“Change of Control” means the
occurrence of any of the following events:

 

(a) prior to
the earlier to occur of (i) the first public equity offering of common
stock of Parent or (ii) the first public equity offering of common stock
of the Company, the Permitted Holders cease to be the “beneficial owners” (as
defined in Rule 13d-3 under the Exchange Act, except that a Person will be
deemed to have “beneficial ownership” of all shares that any such Person has
the right to acquire, whether such right is exercisable immediately or only
after the passage of time), directly or indirectly, of a majority of the total
voting power of the Voting Stock of Parent or the Company, whether as a result
of the issuance of securities of Parent or the Company, any merger,
consolidation, liquidation or dissolution of Parent or the Company, any direct
or indirect transfer of securities by Parent, the Permitted Holders or
otherwise (for purposes of this clause (a), the Permitted Holders will be
deemed to beneficially own any Voting Stock of a Person (the “specified person”)
held by any other Person (the “parent entity”) so long as the Permitted Holders
beneficially own, directly or indirectly, in the aggregate a majority of the
total voting power of the Voting Stock such parent entity);

 

(b) on or
after the earlier to occur of (i) the first public equity offering of
common stock of Parent or (ii) the first public equity offering of common
stock of the Company, if any “person” or “group” (as such terms are used in
Sections 13(d) and 14(d) of the Exchange Act or any successor provisions
to either of the foregoing), including any group acting for the purpose of
acquiring, holding, voting or disposing of securities within the meaning of
Rule 13d-5(b)(1) under the Exchange Act, other than any one or more of the
Permitted Holders, becomes the “beneficial owner” (as defined in
clause (a) above), directly or indirectly, of 35% or more of the total
voting power of the Voting Stock of the Company; provided, however, that the Permitted Holders are the “beneficial

 

4

 

owners” (as defined in clause (a)
above), directly or indirectly, in the aggregate of a lesser percentage of the
total voting power of the Voting Stock of the Company than such other person or
group and do not have the right or ability by voting power, contract or
otherwise to elect or designate for election a majority of the Board of
Directors of the Company (for purposes of this clause (b), such person or
group shall be deemed to beneficially own any Voting Stock of a specified
person held by a parent entity, so long as such person or group beneficially owns,
directly or indirectly, in the aggregate a majority of the total voting power
of the Voting Stock of such parent entity and the Permitted Holders, directly
or indirectly, do not have the right or ability by voting power, contract or
otherwise to elect or designate for election a majority of the board of
directors of such parent entity);

 

(c) the sale,
lease transfer or other conveyance, in one or a series of related transactions,
of all or substantially all of the assets of the Company and its Subsidiaries,
taken as a whole, to any Person other than one or more Permitted Holders;

 

(d) during any
period of two consecutive calendar years, individuals who at the beginning of
such period constituted the Board of Directors or the Parent Board (together
with any new directors whose election or appointment by such Board of Directors
or the Parent Board or whose nomination for election by the shareholders of the
Company or Parent was approved by (i) a vote of not less than a majority
of the directors then still in office who were either directors at the
beginning of such period or whose election or nomination for election was
previously so approved or (ii) Permitted Holders) cease for any reason to
constitute a majority of the Board of Directors or the Parent Board then in
office, provided that for purposes of this clause (d), the terms “Board of
Directors” and “Parent Board” shall not include any committee thereof;

 

(e) the
shareholders of the Company shall have approved any plan of liquidation or
dissolution of the Company;

 

(f) to the
extent either series of the Existing US Oncology Notes is outstanding, a “Change
of Control” as defined in either Existing US Oncology Indenture, shall have
occurred; or

 

(g) the
failure at any time by the Company to beneficially own (as defined in
Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly,
100% of the Voting Stock of US Oncology (except to the extent US Oncology is
merged with and into the Company in accordance with the terms of this
Indenture).

 

“Code” means the Internal Revenue Code
of 1986, as amended.

 

“Company” means the party named as
such in this Indenture until a successor replaces it pursuant to the applicable
provisions hereof and, thereafter, means

 

5

 

the successor
and, for purposes of any provision contained herein and required by the TIA,
each other obligor on the indenture securities.

 

“Consolidated Interest Coverage Ratio”
means, with respect to any Person, as of any date of determination, the ratio
of:

 

(a) the
aggregate amount of EBITDA of such Person for the most recent four consecutive
fiscal quarters for which internal financial statements of such Person are then
available to

 

(b)
Consolidated Interest Expense of such Person for such four fiscal quarters;

 

provided, however, that:

 

(1)  if

 

(A)  since the beginning of such period such
Person or any Restricted Subsidiary has Incurred any Debt that remains
outstanding or Repaid any Debt, or

 

(B)  the transaction giving rise to the need to
calculate the Consolidated Interest Coverage Ratio is an Incurrence or
Repayment of Debt,

 

Consolidated Interest Expense for such period shall be calculated after
giving effect on a pro forma basis to such Incurrence or Repayment as if such
Debt was Incurred or Repaid on the first day of such period, provided
that, in the event of any such Repayment of Debt, EBITDA for such period shall
be calculated as if such Person or such Restricted Subsidiary had not earned
any interest income actually earned during such period in respect of the funds
used to Repay such Debt, and

 

(2)  if

 

(A)  since the beginning of such period such
Person or any Restricted Subsidiary shall have made one or more Asset Sales
with an aggregate Fair Market Value equal to or in excess of $10,000,000 or an
Investment (by merger or otherwise) in any Restricted Subsidiary (or any Person
which becomes a Restricted Subsidiary) or an acquisition of Property which
constitutes all or substantially all of an operating unit of a business,

 

(B)  the transaction giving rise to the need to
calculate the Consolidated Interest Coverage Ratio is such an Asset Sale,
Investment or acquisition, or

 

6

 

(C)  since the beginning of such period any Person
(that subsequently became a Restricted Subsidiary or was merged with or into
such Person or any Restricted Subsidiary since the beginning of such period)
shall have made such an Asset Sale, Investment or acquisition,

 

EBITDA of such Person for such period shall be calculated after giving
pro forma effect to such Asset Sales, Investments or acquisitions as if such
Asset Sales, Investments or acquisitions occurred on the first day of such
period.

 

If any Debt
bears a floating rate of interest and is being given pro forma effect, the
interest expense on such Debt shall be calculated as if the base interest rate
in effect for such floating rate of interest on the date of determination had
been the applicable base interest rate for the entire period (taking into
account any Interest Rate Agreement applicable to such Debt if such Interest
Rate Agreement has a remaining term in excess of 12 months).  In the event the Capital Stock of any
Restricted Subsidiary is sold during the period, the Company shall be deemed,
for purposes of clause (1) above, to have Repaid during such period the Debt of
such Restricted Subsidiary to the extent the Company and its continuing
Restricted Subsidiaries are no longer liable for such Debt after such sale.

 

“Consolidated Interest Expense” means,
with respect to any Person, for any period, the total interest expense of such
Person and its consolidated Restricted Subsidiaries (less, to the extent
included in such total interest expense, financing fees relating to the
Transactions), plus, to the extent not included in such total interest expense,
and to the extent Incurred by such Person or its Restricted Subsidiaries,

 

(a) interest
expense attributable to leases constituting part of a Sale and Leaseback
Transaction and to Capital Lease Obligations,

 

(b)
amortization of debt discount and debt issuance costs, including commitment
fees (other than amortization of deferred financing fees relating to the
Transactions),

 

(c)
capitalized interest,

 

(d) non-cash
interest expense,

 

(e)
commissions, discounts and other fees and charges owed with respect to letters
of credit and bankers’ acceptance financing,

 

(f) net
payments pursuant to Hedging Obligations,

 

(g)
Disqualified Stock Dividends,

 

(h) Preferred
Stock Dividends,

 

7

 

(i) interest
Incurred in connection with Investments in discontinued operations,

 

(j) interest
accruing on any Debt of any other Person to the extent such Debt is Guaranteed
by, or secured by the assets of, the Company or any Restricted Subsidiary
(other than interest accruing on any Debt of any Permitted Joint Venture that
is Guaranteed by, or secured by the assets of, such Person or any Restricted
Subsidiary; provided, however, that
such interest shall be included in “Consolidated Interest Expense” if either
(A) such Debt is in default or (B) such Person or any Restricted
Subsidiary has ever previously made any payment of interest or principal in
respect of such Debt), and

 

(k) the cash
contributions to any employee stock ownership plan or similar trust to the
extent such contributions are used by such plan or trust to pay interest or
fees to any Person (other than such Person or any Restricted Subsidiary) in
connection with Debt Incurred by such plan or trust.

 

“Consolidated Net Income” means, with
respect to any Person, for any period, the net income (loss) of such Person and
its consolidated Subsidiaries; provided,
however, that there shall not be included in such Consolidated Net Income:

 

(a) any net
income (loss) of any Person (other than such Person) if such other Person is
not a Restricted Subsidiary, except that, subject to the exclusion contained in
clause (c) below, to the extent such cash has not previously been included in
Consolidated Net Income, Consolidated Net Income shall be increased by the
aggregate amount of cash distributed by such other Person during such period to
such Person or a Restricted Subsidiary as a dividend or other distribution
(subject, in the case of a dividend or other distribution to a Restricted
Subsidiary, to the limitations contained in clause (b) below),

 

(b) any net
income (loss) of any Restricted Subsidiary if such Restricted Subsidiary is
subject to restrictions, directly or indirectly, on the payment of dividends or
the making of distributions, directly or indirectly, to such Person other than
any restrictions permitted under Section 4.07 except that without
duplication:

 

(1)  subject to the exclusion contained in
clause (c) below, to the extent such cash has not previously been included in
Consolidated Net Income, Consolidated Net Income shall be increased by the
aggregate amount of cash distributed by such Restricted Subsidiary during such
period to such Person or another Restricted Subsidiary as a dividend or other
distribution (subject, in the case of a dividend or other distribution to
another Restricted Subsidiary, to the limitation contained in this clause), and

 

8

 

(2)  such Person’s equity in a net loss of
any such Restricted Subsidiary for such period shall be included in determining
such Consolidated Net Income,

 

(c) any gain
or loss realized upon the sale or other disposition of any Property of such
Person or any of its consolidated Subsidiaries (including pursuant to any Sale
and Leaseback Transaction) that is not sold or otherwise disposed of in the
ordinary course of business,

 

(d) any
extraordinary gain or loss,

 

(e) the
cumulative effect of a change in accounting principles,

 

(f) any
non-cash compensation expense realized for grants of performance shares, stock
options or other rights to officers, directors and employees of such Person or
any Restricted Subsidiary, provided that such shares, options or other rights
can be redeemed at the option of the holder only for Capital Stock of such
Person (other than Disqualified Stock),

 

(g) any
non-cash impairment charges resulting from the application of Statements of
Financial Accounting Standards No. 142 and No. 144; provided, however, that such charge is not attributable
to the exiting of any market served by US Oncology or its affiliated
physicians,

 

(h) any net
after-tax gains or losses attributable to the early extinguishment of Debt,

 

(i) charges
resulting from inventory purchase accounting adjustments resulting from the
Transactions, and

 

(j) any net
income (or loss) of any Person acquired by such Person or a Subsidiary in a
pooling of interests transaction for any period prior to the date of such
acquisition.

 

Notwithstanding
the foregoing, for purposes of Section 4.04 only, there shall be excluded from
Consolidated Net Income any dividends, repayments of loans or advances or other
transfers of assets from Unrestricted Subsidiaries to such Person or a
Restricted Subsidiary to the extent such dividends, repayments or transfers
increase the amount of Restricted Payments permitted under such covenant
pursuant to clause (c)(4) thereof.

 

“Credit Facilities” means, with
respect to the Company or any Restricted Subsidiary, one or more debt or
commercial paper facilities with banks or other institutional lenders
(including the Senior Credit Agreement entered into on August 20, 2004
among the Company, US Oncology, the subsidiary guarantors named therein,
JPMorgan Chase Bank, as administrative agent and collateral agent, Wachovia
Bank, National Association, as syndication agent, Citicorp North America, Inc.,
as documentation agent, and the other lenders party thereto, as amended as of
the Issue Date) providing for revolving credit loans, term loans, receivables
or inventory financing

 

9

 

(including
through the sale of receivables or inventory to such lenders or to special
purpose, bankruptcy remote entities formed to borrow from such lenders against
such receivables or inventory) or trade letters of credit, in each case
together with any Refinancings thereof by a lender or syndicate of lenders.

 

“Currency Exchange Protection Agreement”
means, in respect of a Person, any foreign exchange contract, currency swap
agreement, currency option or other similar agreement or arrangement designed
to protect such Person against fluctuations in currency exchange rates.

 

“Debt” means, with respect to any
Person on any date of determination (without duplication):

 

(a) the
principal of and premium (if any) in respect of:

 

(1)  debt of such Person for money
borrowed, and

 

(2)  debt evidenced by notes, debentures,
bonds or other similar instruments for the payment of which such Person is
responsible or liable;

 

(b) all
Capital Lease Obligations of such Person and all Attributable Debt in respect
of Sale and Leaseback Transactions entered into by such Person;

 

(c) all
obligations of such Person issued or assumed as the deferred purchase price of
Property, all conditional sale obligations of such Person and all obligations
of such Person under any title retention agreement (but excluding trade
accounts payable arising in the ordinary course of business);

 

(d) all
obligations of such Person for the reimbursement of any obligor on any letter
of credit, banker’s acceptance or similar credit transaction (other than
obligations with respect to letters of credit securing obligations (other than
obligations described in (a) through (c) above) entered into in the ordinary
course of business of such Person to the extent such letters of credit are not
drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no
later than the fifth Business Day following receipt by such Person of a demand
for reimbursement following payment on the letter of credit);

 

(e) the amount
of all obligations of such Person with respect to the Repayment of any
Disqualified Stock or, with respect to any Subsidiary of such Person, any
Preferred Stock (but excluding, in each case, any accrued dividends);

 

(f) all
obligations of the type referred to in clauses (a) through (e) of other Persons
and all dividends of other Persons for the payment of which, in either case,
such Person is responsible or liable, directly or indirectly, as obligor,
guarantor or otherwise, including by means of any Guarantee;

 

(g) all
obligations of the type referred to in clauses (a) through (f) of other Persons
secured by any Lien on any Property of such Person (whether or not such

 

10

 

obligation is assumed by such Person), the
amount of such obligation being deemed to be the lesser of the value of such
Property or the amount of the obligation so secured; and

 

(h) to the
extent not otherwise included in this definition, Hedging Obligations of such
Person.

 

Notwithstanding
the foregoing, in connection with the purchase by the Company or any Restricted
Subsidiary of any business, the term “Debt” will exclude post-closing payment
adjustments to which the seller may become entitled to the extent such payment
is determined by a final closing balance sheet or such payment depends on the
performance of such business after the closing; provided, however, that, at the time of closing, the
amount of any such payment is not determinable and, to the extent such payment
thereafter becomes fixed and determined, the amount is paid within 30 days
thereafter.

 

The amount of
Debt of any Person at any date shall be the outstanding balance at such date of
all unconditional obligations as described above and the maximum liability,
upon the occurrence of the contingency giving rise to the obligation, of any
contingent obligations at such date; provided, however, that in the case of Debt sold at a discount, the amount of
such Debt at any time will be the accreted value thereof at such time.  The amount of Debt represented by a Hedging
Obligation shall be equal to:

 

(1)  zero if such Hedging Obligation has
been Incurred pursuant to clause (7) or (8) of paragraph (b) of
Section 4.03, or

 

(2)  the notional amount of such Hedging
Obligation if not Incurred pursuant to such clauses.

 

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

 

“Determination Date,” with respect to
an Interest Period, will be the second London Banking Day preceding the first
day of such Interest Period.

 

“Disqualified Stock” means, with
respect to any Person, any Capital Stock that by its terms (or by the terms of
any security into which it is convertible or for which it is exchangeable, in
either case at the option of the holder thereof) or otherwise:

 

(a) matures or
is mandatorily redeemable (other than redeemable only for Capital Stock of such
Person which is not itself Disqualified Stock) pursuant to a sinking fund
obligation or otherwise,

 

(b) is or may
become, upon the occurrence of certain events or otherwise, redeemable or
repurchaseable at the option of the holder thereof, in whole or in part, or

 

11

 

(c) is
convertible or exchangeable at the option of the holder thereof for Debt or
Disqualified Stock,

 

on or prior
to, in the case of clause (a), (b) or (c), the first anniversary of the Stated
Maturity of the Securities; provided,
however, that any Capital Stock that would not constitute Disqualified
Stock but for provisions thereof giving holders thereof the right to require
such Person to purchase or redeem such Capital Stock upon the occurrence of an “asset
sale” or “change of control” occurring prior to the first anniversary of the
Stated Maturity of the Securities shall not constitute Disqualified Stock if:

 

(1)  the “asset sale” or “change of control”
provisions applicable to such Capital Stock are not more favorable to the
holders of such Capital Stock than the terms applicable to the Securities under
Section 4.06 and Section 4.13; and

 

(2)  any such requirement only becomes
operative after compliance with such terms applicable to the Securities,
including the purchase of any Securities tendered pursuant thereto.

 

The amount of
any Disqualified Stock that does not have a fixed redemption, repayment or
repurchase price will be calculated in accordance with the terms of such
Disqualified Stock as if such Disqualified Stock were redeemed, repaid or
repurchased on any date on which the amount of such Disqualified Stock is to be
determined pursuant to this Indenture; provided, however, that if such Disqualified Stock could not be required to
be redeemed, repaid or repurchased at the time of such determination, the
redemption, repayment or repurchase price will be the book value of such
Disqualified Stock as reflected in the most recent financial statements of such
Person.

 

“Disqualified Stock Dividends” means
all dividends with respect to Disqualified Stock of the Company held by Persons
other than a Restricted Subsidiary (except to the extent paid in Capital Stock
(other than Disqualified Stock)).  The
amount of any such dividend shall be equal to the quotient of such dividend
divided by the difference between one and the maximum statutory federal income
tax rate (expressed as a decimal number between 1 and 0) then applicable to the
Company.

 

“EBITDA” means, with respect to any
Person, for any period, an amount equal to, for such Person and its
consolidated Restricted Subsidiaries:

 

(a) the sum of
Consolidated Net Income for such period, plus the following to the extent
reducing Consolidated Net Income for such period:

 

(1)  the provision for taxes based on
income or profits or utilized in computing net loss,

 

(2)  Consolidated Interest Expense,

 

(3)  depreciation,

 

12

 

(4)  amortization of intangibles,

 

(5)  any other non-cash items (other than
any such non-cash item to the extent that it represents an accrual of or
reserve for cash expenditures in any future period), and

 

(6)  any non-recurring fees, charges or
other expenses (x) related to any offering of Capital Stock, Permitted
Investment, acquisition or Incurrence of Debt permitted under this Indenture
(in each case whether or not consummated) or (y) made or Incurred in
connection with the Transactions in each case, to the extent deducted (and not
subsequently added back) in calculating Consolidated Net Income for such
period, minus

 

(b) all
non-cash items increasing Consolidated Net Income for such period (other than
any such non-cash item to the extent that it (1) will result in the
receipt of cash payments in any future period or (2) represents the
reversal of a prior accrual or reserve previously excluded from being added
back in calculating EBITDA pursuant to clause (a)(5) above).

 

Notwithstanding
the foregoing clause (a), the provision for taxes and the depreciation,
amortization and non-cash items of a Restricted Subsidiary shall be added to
Consolidated Net Income to compute EBITDA only to the extent (and in the same
proportion, including by reason of minority interests) that the net income of
such Restricted Subsidiary was included in calculating Consolidated Net Income
and only if a corresponding amount would be permitted, other than as a result
of any agreements, limitations or prohibitions on dividends permitted under
Section 4.07 at the date of determination to be dividended to such Person
by such Restricted Subsidiary without prior approval (that has not been
obtained), pursuant to the terms of its charter and all agreements, instruments,
judgments, decrees, orders, statutes, rules and governmental regulations
applicable to such Restricted Subsidiary or its shareholders.

 

“Event of Default” has the meaning set
forth under Section 6.01.

 

“Exchange Act” means the Securities
Exchange Act of 1934.

 

“Exchange Offer Registration Statement”
means a registration statement filed with the SEC with respect to a registered
offer to exchange the Initial Securities for the Exchange Securities.

 

“Exchange Securities” has the meaning
set forth in the preamble.

 

“Existing US Oncology Indentures”
means each of the indentures dated August 20, 2004, as supplemented by the
First Supplemental Indenture dated August 20, 2004, among US Oncology, the
subsidiary guarantors (as defined therein) and LaSalle Bank National Association,
as trustee, as the same may be amended from time to time.

 

13

 

“Existing US Oncology Notes” means the
Senior Notes and the Senior Subordinated Notes.

 

“Fair Market Value” means, with
respect to any Property, the price that could be negotiated in an arm’s-length
free market transaction, for cash, between a willing seller and a willing
buyer, neither of whom is under undue pressure or compulsion to complete the
transaction.  Fair Market Value shall be
determined, except as otherwise provided,

 

(a) if such
Property has a Fair Market Value equal to or less than $25,000,000, by a
majority of the Board of Directors and evidenced by a Board Resolution, or

 

(b) if such
Property has a Fair Market Value in excess of $25,000,000, by an Independent
Financial Advisor and evidenced by a written opinion from such Independent
Financial Advisor, dated within 30 days of the relevant transaction, delivered
to the Trustee.

 

“GAAP” means United States generally
accepted accounting principles as in effect on August 20, 2004, including
those set forth:

 

(a) in the
opinions and pronouncements of the Accounting Principles Board of the American
Institute of Certified Public Accountants,

 

(b) in the
statements and pronouncements of the Financial Accounting Standards Board,

 

(c) in such
other statements by such other entity as approved by a significant segment of
the accounting profession, and

 

(d) the rules
and regulations of the SEC governing the inclusion of financial statements
(including pro forma financial statements) in periodic reports required to be
filed pursuant to Section 13 of the Exchange Act, including opinions and
pronouncements in staff accounting bulletins and similar written statements
from the accounting staff of the SEC.

 

“Guarantee” means any obligation,
contingent or otherwise, of any Person directly or indirectly guaranteeing any Debt
of any other Person and any obligation, direct or indirect, contingent or
otherwise, of such Person:

 

(a) to
purchase or pay (or advance or supply funds for the purchase or payment of)
such Debt of such other Person (whether arising by virtue of partnership
arrangements, or by agreements to keep-well, to purchase assets, goods,
securities or services, to take-or-pay or to maintain financial statement
conditions or otherwise), or

 

14

 

(b) entered
into for the purpose of assuring in any other manner the obligee of such Debt
of the payment thereof or to protect such obligee against loss in respect
thereof (in whole or in part);

 

provided, however, that the term “Guarantee” shall not
include:

 

(1)  endorsements for collection or deposit
in the ordinary course of business, or

 

(2)  a contractual commitment by one Person
to invest in another Person for so long as such Investment is reasonably
expected to constitute a Permitted Investment under clause (b) of the
definition of “Permitted Investment”.

 

The term “Guarantee”
used as a verb has a corresponding meaning. 
The term “Guarantor” shall mean any Person Guaranteeing any obligation.

 

“Hedging Obligations” of any Person
means any obligation of such Person pursuant to any Interest Rate Agreement or
Currency Exchange Protection Agreement or any other similar agreement or
arrangement.

 

“Holder” or “Securityholder”
means the Person in whose name a Security is registered on the Security
register described in Section 2.04.

 

“Incur” means, with respect to any
Debt or other obligation of any Person, to create, issue, incur (by merger,
conversion, exchange or otherwise), extend, assume, Guarantee or become liable
in respect of such Debt or other obligation or the recording, as required
pursuant to GAAP or otherwise, of any such Debt or obligation on the balance
sheet of such Person (and “Incurrence” and “Incurred” shall have meanings
correlative to the foregoing); provided,
however, that any Debt or other obligations of a Person existing at the
time such Person becomes a Subsidiary (whether by merger, consolidation,
acquisition or otherwise) shall be deemed to be Incurred by such Subsidiary at
the time it becomes a Subsidiary.  Solely
for purposes of determining compliance with Section 4.03, the following
will not be deemed to be the Incurrence of Debt:

 

(1)  amortization of debt discount or the
accretion of principal with respect to a non-interest bearing or other discount
security,

 

(2)  the payment of regularly scheduled
interest in the form of additional Debt of the same instrument or the payment
of regularly scheduled dividends on Capital Stock in the form of additional
Capital Stock of the same class and with the same terms,

 

(3)  the obligation to pay a premium in
respect of Debt arising in connection with the issuance of a notice of
redemption or the making of a mandatory offer to purchase such Debt, and

 

15

 

(4)  a change in GAAP that results in an
obligation of such Person that exists at such time, and is not theretofore
classified as Debt, becoming Debt.

 

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

 

“Independent Financial Advisor” means
an investment banking or accounting firm of national standing or any third
party appraiser of national standing, provided that such firm or
appraiser is not an Affiliate of the Company.

 

“Initial Securities” has the meaning
set forth in the preamble.

 

“Interest Period” means the period
commencing on and including an interest payment date and ending on and
including the day immediately preceding the next succeeding interest payment date,
with the exception that the first Interest Period shall commence on and include
the Issue Date with respect to the Securities and end on and include September
14, 2005.

 

“Interest Rate Agreement” means, for
any Person, any interest rate swap agreement, interest rate cap agreement,
interest rate collar agreement or other similar agreement designed to protect
against fluctuations in interest rates.

 

“Investment” by any Person means any
direct or indirect loan (other than advances to customers in the ordinary course
of business that are recorded as accounts receivable on the balance sheet of
such Person), advance or other extension of credit or capital contribution (by
means of transfers of cash or other Property to others or payments for Property
or services for the account or use of others, or otherwise) to, or Incurrence
of a Guarantee of any obligation of, or purchase or acquisition of Capital
Stock, bonds, notes, debentures or other securities or evidence of Debt issued
by, any other Person.  For purposes of
Section 4.04 and Section 4.11 and the definition of “Restricted
Payment”, “Investment” shall include the portion (proportionate to the Company’s
equity interest in such Subsidiary) of the Fair Market Value of the net assets
of any Subsidiary of the Company at the time that such Subsidiary is designated
an Unrestricted Subsidiary; provided,
however, that upon a redesignation of such Subsidiary as a Restricted
Subsidiary, the Company shall be deemed to continue to have a permanent “Investment”
in an Unrestricted Subsidiary of an amount (if positive) equal to:

 

(a) the
Company’s “Investment” in such Subsidiary at the time of such redesignation,
less

 

(b) the
portion (proportionate to the Company’s equity interest in such Subsidiary) of
the Fair Market Value of the net assets of such Subsidiary at the time of such
redesignation.

 

In determining
the amount of any Investment made by transfer of any Property other than cash,
such Property shall be valued at its Fair Market Value at the time of such
Investment.

 

16

 

“Issue Date” means the date on which
the Offered Securities are initially issued.

 

“LIBOR,” with respect to an Interest
Period, will be the rate (expressed as a percentage per annum) for deposits in
U.S. dollars for a six-month period beginning on the second London Banking
Day after the Determination Date that appears on Telerate Page 3750 as of
11:00 a.m., London time, on the Determination Date.  If Telerate Page 3750 does not include such a
rate or is unavailable on a Determination Date, the Calculation Agent will
request the principal London office of each of four major banks in the London
interbank market, as selected by the Calculation Agent, to provide such bank’s
offered quotation (expressed as a percentage per annum), as of approximately
11:00 a.m., London time, on such Determination Date, to prime banks in the
London interbank market for deposits in a Representative Amount in
U.S. dollars for a six-month period beginning on the second London Banking
Day after the Determination Date.  If at
least two such offered quotations are so provided, the rate for the Interest
Period will be the arithmetic mean of such quotations.  If fewer than two such quotations are so
provided, the Calculation Agent will request each of three major banks in New
York City, as selected by the Calculation Agent, to provide such bank’s
rate (expressed as a percentage per annum), as of approximately
11:00 a.m., New York City time, on such Determination Date, for loans
in a Representative Amount in U.S. dollars to leading European banks for a
six-month period beginning on the second London Banking Day after the
Determination Date.  If at least two such
rates are so provided, the rate for the Interest Period will be the arithmetic
mean of such rates.  If fewer than two
such rates are so provided, then the rate for the Interest Period will be the
rate in effect with respect to the immediately preceding Interest Period.

 

“Lien” means, with respect to any
Property of any Person, any mortgage or deed of trust, pledge, hypothecation,
assignment, deposit arrangement, security interest, lien, charge, easement
(other than any easement not materially impairing usefulness or marketability),
encumbrance, preference, priority or other security agreement or preferential
arrangement of any kind or nature whatsoever on or with respect to such
Property (including any Capital Lease Obligation, conditional sale or other
title retention agreement having substantially the same economic effect as any
of the foregoing or any Sale and Leaseback Transaction).

 

“London Banking Day” is any day on
which dealings in U.S. dollars are transacted or, with respect to any
future date, are expected to be transacted in the London interbank market.

 

“Management Services Agreement” means
any contract between the Company or a Restricted Subsidiary and a physician
practice entity for the provision of services by the Company or such Restricted
Subsidiary to such physician practice entity.

 

“Merger Agreement” means the agreement
and plan of merger among Oiler Holding Company, Oiler Acquisition Corp. and US
Oncology dated March 20, 2004, as in effect on August 20, 2004.

 

17

 

“Moody’s” means Moody’s Investors
Service, Inc. or any successor to the rating agency business thereof.

 

“Net Available Cash” from any Asset
Sale means cash payments received therefrom (including any cash payments
received by way of deferred payment of principal pursuant to a note or
installment receivable or otherwise and any proceeds from the sale or other
disposition of any securities received as consideration, but only as and when
received, but excluding any other consideration received in the form of
assumption by the acquiring Person of Debt or other obligations relating to the
Property that is the subject of such Asset Sale or received in any other
non-cash form), in each case net of:

 

(a) all legal,
title and recording tax expenses, commissions and other fees and expenses
incurred, and all U.S. Federal, state, provincial, foreign and local taxes
required to be accrued as a liability under GAAP, as a consequence of such
Asset Sale,

 

(b) all
payments made on any Debt that is secured by any Property subject to such Asset
Sale, in accordance with the terms of any Lien upon or other security agreement
of any kind with respect to such Property, or which must by its terms, or in
order to obtain a necessary consent to such Asset Sale, or by applicable law,
be repaid out of the proceeds from such Asset Sale,

 

(c) all
distributions and other payments required to be made to minority interest
holders in Subsidiaries or joint ventures as a result of such Asset Sale, and

 

(d) the
deduction of appropriate amounts provided by the seller as a reserve, in
accordance with GAAP, against any liabilities associated with the Property
disposed in such Asset Sale and retained by the Company or any Restricted
Subsidiary after such Asset Sale.

 

In addition,
to the extent not otherwise constituting Net Available Cash, any cash, in each case
net of (a)-(d) above, received by the Company or a Restricted Subsidiary in
connection with the formation of a Permitted Joint Venture, or the designation
of a Restricted Subsidiary that is or will become a Permitted Joint Venture as
an Unrestricted Subsidiary, including, without limitation, any proceeds related
to the Incurrence of Debt by such Person or the sale or issuance of Capital
Stock in such Person, shall constitute Net Available Cash.

 

“Offered Securities” has the meaning
set forth in Section 2.01.

 

“Offering Memorandum” means the
confidential Offering Memorandum dated August 4, 2004 for the Existing US
Oncology Notes.

 

“Officer” means the Chief Executive
Officer, the President, the Chief Financial Officer or any Executive Vice
President of the Company.

 

18

 

“Officers’
Certificate” means a certificate signed by two Officers of the Company, at
least one of whom shall be the principal executive officer or principal
financial officer of the Company, and delivered to the Trustee.

 

“Opinion of Counsel” means a written
opinion from legal counsel who is acceptable to the Trustee.  The counsel may be an employee of or counsel
to the Company or the Trustee.

 

 “Parent”
means any direct or indirect parent company of the Company.

 

“Parent Board” means the board of
directors of Parent or any committee thereof duly authorized to act on behalf
of such board.

 

“Permitted Holders” means
(i) Welsh, Carson, Anderson & Stowe IX, L.P. and its Affiliates
(including, without limitation, any investment partnership under common control
with Welsh, Carson, Anderson & Stowe IX, L.P.), (ii) any officer,
director, employee, partner, member or stockholder of the manager or general
partner of the foregoing Persons and (iii) any Related Parties with
respect to any of the foregoing Persons.

 

“Permitted Investment” means any
Investment by the Company or a Restricted Subsidiary in:

 

(a) the
Company, any Restricted Subsidiary or any Person that will, upon the making of
such Investment, become a Restricted Subsidiary, provided that the primary
business of such Restricted Subsidiary is a Related Business;

 

(b) any Person
if as a result of such Investment such Person is merged or consolidated with or
into, or transfers or conveys all or substantially all its Property to, the
Company or a Restricted Subsidiary, provided that such Person’s primary
business is a Related Business;

 

(c) cash and
Temporary Cash Investments;

 

(d)
receivables owing to the Company or a Restricted Subsidiary, if created or
acquired in the ordinary course of business and payable or dischargeable in
accordance with customary trade terms; provided, however, that such trade terms may include such concessionary trade
terms as the Company or such Restricted Subsidiary deems reasonable under the
circumstances;

 

(e) payroll,
travel and similar advances to cover matters that are expected at the time of
such advances ultimately to be treated as expenses for accounting purposes and
that are made in the ordinary course of business;

 

(f) loans and
advances to employees made in the ordinary course of business consistent with
past practices of the Company or such Restricted Subsidiary, as the case may
be; provided, however, that such
loans and advances do not exceed $3,000,000 at any one time outstanding;

 

19

 

(g) stock,
obligations or other securities received in settlement of debts created in the
ordinary course of business and owing to the Company or a Restricted Subsidiary
or in satisfaction of judgments;

 

(h) any Person
where such Investment was acquired by the Company or any of its Restricted
Subsidiaries (a) in exchange for any other Investment or accounts
receivable held by the Company or any such Restricted Subsidiary in connection
with or as a result of a bankruptcy, workout, reorganization or
recapitalization of the issuer of such other Investment or accounts receivable
or (b) as a result of a foreclosure by the Company or any of its
Restricted Subsidiaries with respect to any secured Investment or other
transfer of title with respect to any secured Investment in default;

 

(i) any Person
to the extent such Investment represents the non-cash portion of the
consideration received in connection with an Asset Sale consummated in compliance
with Section 4.06;

 

(j) any Person
to the extent such Investment is made by the Company or a Restricted Subsidiary
for consideration consisting only of Capital Stock (other than Disqualified
Stock) of the Company;

 

(k) any Person
to the extent such Investment existed on the Issue Date and any Investment that
replaces, refinances or refunds such an Investment, provided that the new
Investment is in an amount that does not exceed the amount replaced, refinanced
or refunded and is made in the same Person as the Investment replaced,
refinanced or refunded;

 

(l) any Person
to the extent such Investment consists of Hedging Obligations incurred pursuant
to clauses (7) or (8) of paragraph (b) of Section 4.03 or Guarantees
thereof;

 

(m) in
Permitted Joint Ventures in an aggregate amount outstanding at any one time not
to exceed the greater of (a) $25,000,000 or (b) 3.0% of Total
Tangible Assets (with each Investment being valued as of the date made and
without regard to subsequent changes in value);

 

(n) in any Permitted
Joint Venture to the extent such Investment consists of a Guarantee of Debt of
such Permitted Joint Venture permitted to be Incurred pursuant to clauses (5)
or (16) of paragraph (b) of Section 4.03;

 

(o) loans to
affiliated physician groups in an aggregate amount outstanding at any one time
not to exceed the greater of (a) $25,000,000 or (b) 3.0% of Total
Tangible Assets; and

 

(p) other
Investments made for Fair Market Value that do not exceed $40,000,000
outstanding at any one time in the aggregate.

 

20

 

The amount of
Investments outstanding at any time pursuant to clause (m), (o) or (p) above
shall be reduced by (A) the net reduction after the Issue Date in
Investments made after the Issue Date pursuant to such clause resulting from
dividends, repayments of loans or advances or other transfers of Property,
proceeds realized on the sale of any such Investment and proceeds representing
the return of the capital, in each case to the Company or any Restricted
Subsidiary in respect of any such Investment, less the cost of the disposition
of any such Investment, and (B) the portion (proportionate to the Company’s
equity interest in such Unrestricted Subsidiary) of the Fair Market Value of
the net assets of an Unrestricted Subsidiary that was designated after the
Issue Date as an Unrestricted Subsidiary pursuant to clause (m), (o) or (p) at
the time such Unrestricted Subsidiary is designated a Restricted Subsidiary; provided, however, that the foregoing sum shall not
exceed, in the case of any Person, the amount of Investments previously made by
the Company or any Restricted Subsidiary pursuant to clause (m), (o) or (p) in
such Person.

 

“Permitted Joint Venture” means a
Person (1) that owns, leases, operates or services a hospital or other
health-care provider for the purpose of developing, operating, conducting or
marketing a Permitted Business and (2) of which the Company or any
Restricted Subsidiary owns a 30% or greater equity interest.

 

“Permitted Liens” means:

 

(a) Liens to
secure Debt permitted to be Incurred under clause (2) of paragraph (b) of
Section 4.03;

 

(b) Liens to
secure Debt permitted to be Incurred under clause (5) of paragraph (b) of
Section 4.03, provided that any such Lien may not extend to any Property
of the Company or any Restricted Subsidiary, other than the Property purchased,
leased or constructed with the proceeds of such Debt and any improvements or
accessions to such Property;

 

(c) Liens for
taxes, assessments or governmental charges or levies on the Property of the
Company or any Restricted Subsidiary if the same shall not at the time be
delinquent or thereafter can be paid without penalty, or are being contested in
good faith and by appropriate proceedings promptly instituted and diligently
conducted, provided that any reserve or other appropriate provision that
shall be required in conformity with GAAP shall have been made therefor;

 

(d) Liens
imposed by law, such as carriers’, warehousemen’s and mechanics’ Liens and
other similar Liens, on the Property of the Company or any Restricted
Subsidiary and securing payment of obligations that are not more than 60 days
past due or are being contested in good faith and by appropriate proceedings;

 

(e) Liens on
the Property of the Company or any Restricted Subsidiary Incurred to secure
performance of obligations with respect to statutory or regulatory
requirements, performance or return-of-money bonds, surety bonds or

 

21

 

other obligations of a like nature and
Incurred in a manner consistent with industry practice, in each case which are
not Incurred in connection with the borrowing of money, the obtaining of
advances or credit or the payment of the deferred purchase price of Property
and which do not in the aggregate impair in any material respect the use of
Property in the operation of the business of the Company and the Restricted
Subsidiaries taken as a whole;

 

(f) Liens on
Property at the time the Company or any Restricted Subsidiary acquired such
Property, including any acquisition by means of a merger or consolidation with
or into the Company or any Restricted Subsidiary; provided, however,
that any such Lien may not extend to any other Property of the Company or any
Restricted Subsidiary; provided further, however, that such Liens
shall not have been Incurred in anticipation of or in connection with the
transaction or series of transactions pursuant to which such Property was
acquired by the Company or any Restricted Subsidiary;

 

(g) Liens on the
Property of a Person at the time such Person becomes a Restricted Subsidiary; provided,
however, that any such Lien may not extend to any other Property of the
Company or any other Restricted Subsidiary that is not a direct Subsidiary of
such Person; provided further, however, that any such Lien was
not Incurred in anticipation of or in connection with the transaction or series
of transactions pursuant to which such Person became a Restricted Subsidiary;

 

(h) pledges or
deposits by the Company or any Restricted Subsidiary under workmen’s
compensation laws, unemployment insurance laws or similar legislation, or good
faith deposits in connection with bids, tenders, contracts (other than for the
payment of Debt) or leases to which the Company or any Restricted Subsidiary or
any Restricted Subsidiary is party, or deposits to secure public or statutory
obligations of the Company or any Restricted Subsidiary, or deposits for the
payment of rent, in each case Incurred in the ordinary course of business;

 

(i) zoning
restrictions, utility easements, building restrictions and such other
encumbrances, irregularities or charges against real Property that do not in
the aggregate materially impair the use of such Property in the operation of
the Company’s business;

 

(j) Liens
existing on the Issue Date not otherwise described in clauses (a) through (i)
above;

 

(k) Liens on
specific items of inventory or other goods and proceeds of any Person securing
such Person’s obligations in respect of bankers’ acceptances or letters of
credit issued or created for the account of such Person to facilitate the
purchase, shipment or storage of such inventory or other goods;

 

(l) Liens in
favor of the Company or any Restricted Subsidiary;

 

22

 

(m) leases,
subleases, licenses or sublicenses granted to others that do not materially
interfere with the business of the Company or any Restricted Subsidiary;

 

(n) attachment
or judgment Liens not giving rise to an Event of Default so long as any appropriate
legal proceedings which may have been duly initiated for the review of such
judgment have not been finally terminated or the period within which the
proceedings may be initiated has not expired;

 

(o) Liens
arising from the filing Uniform Commercial Code financing statements regarding
leases or consignments;

 

(p) Liens
securing Hedging Obligations so long as the related Debt is, and is permitted
to be under this Indenture, secured by a Lien on the same Property securing
such Hedging Obligations;

 

(q) Liens (i)
of a collection bank arising under Section 4-210 of the Uniform Commercial Code
on items in the course of collection and (ii) in favor of a banking institution
arising as a matter of law encumbering deposits (including the right of
set-off) and which are within the general parameters customary in the banking
industry;

 

(r) Liens
encumbering reasonable customary initial deposits and margin deposits and
similar Liens attaching to brokerage accounts Incurred in the ordinary course
of business and not for speculative purposes;

 

(s) Liens that
are contractual rights of set-off (i) relating to the establishment of
depository relations with banks not given in connection with the issuance of
Debt; or (ii) relating to pooled deposit or sweep accounts of the Company or
any Restricted Subsidiary to permit satisfaction of overdraft or similar
obligations incurred in the ordinary course of business of the Company and its
Restricted Subsidiaries;

 

(t) Liens
solely on any cash earnest money deposits made by the Company or any of its
Restricted Subsidiaries in connection with any letter of intent or purchase
agreement permitted under the Indenture;

 

(u) Liens on
the Property of the Company or any Restricted Subsidiary to secure any
Refinancing, in whole or in part, of any Debt secured by Liens referred to in
clause (b), (f), (g) or (j) above; provided, however, that any
such Lien shall be limited to all or part of the same Property that secured the
original Lien (together with improvements and accessions to such Property) and
the aggregate principal amount of Debt that is secured by such Lien shall not
be increased to an amount greater than the sum of:

 

(1)  the outstanding principal amount, or,
if greater, the committed amount, of the Debt secured by Liens described under
clause (b), (f), (g)

 

23

 

or (j) above, as the case may be, at the time
the original Lien became a Permitted Lien under this Indenture, and

 

(2)  an amount necessary to pay any fees
and expenses, including premiums and defeasance costs, incurred by the Company
or such Restricted Subsidiary in connection with such Refinancing;

 

(v) Liens on
Property that result from provisions of any Management Services Agreement that
permit an affiliated physician group or physician or physicians affiliated with
such affiliated physician group to purchase such Property in connection with
the termination of such Management Services Agreement; and

 

(w) other
Liens securing obligations which do not exceed $50.0 million at any one time
outstanding.

 

“Permitted Refinancing Debt” means any
Debt that Refinances any other Debt, including any successive Refinancings, so
long as:

 

(a) such Debt
is in an aggregate principal amount (or if Incurred with original issue
discount, an aggregate issue price) not in excess of the sum of:

 

(1)  the aggregate principal amount (or if
Incurred with original issue discount, the aggregate accreted value) then
outstanding of the Debt being Refinanced, and

 

(2)  an amount necessary to pay any fees
and expenses, including premiums and defeasance costs, related to such
Refinancing,

 

(b) the
Average Life of such Debt is equal to or greater than the Average Life of the
Debt being Refinanced,

 

(c) the Stated
Maturity of such Debt is no earlier than the Stated Maturity of the Debt being
Refinanced,

 

(d) the new
Debt shall not be senior in right of payment to the Debt that is being
Refinanced, and

 

(e) to the
extent such Debt directly or indirectly Refinances Debt of a Restricted
Subsidiary Incurred pursuant to clause (6) of paragraph (b) of
Section 4.03, such Refinancing Debt shall be Incurred only by such
Restricted Subsidiary;

 

provided, however, that Permitted Refinancing Debt
shall not include:

 

(x)  Debt of a Subsidiary that Refinances Debt of
the Company, or

 

24

 

(y)  Debt of the Company or a Restricted
Subsidiary that Refinances Debt of an Unrestricted Subsidiary.

 

“Person” means any individual,
corporation, company (including any limited liability company), association,
partnership, joint venture, trust, unincorporated organization, government or
any agency or political subdivision thereof or any other entity.

 

“PPM Asset Sales” means sales of
assets to physician practice entities or to physicians affiliated with
physician practice entities in connection with the termination or modification
of the Management Services Agreement in effect on the Issue Date with such
physician practice entities or such affiliated physicians.

 

“Preferred Stock” means any Capital
Stock of a Person, however designated, which entitles the holder thereof to a
preference with respect to the payment of dividends, or as to the distribution
of assets upon any voluntary or involuntary liquidation or dissolution of such
Person, over shares of any other class of Capital Stock issued by such Person.

 

“Preferred Stock Dividends” means all
dividends with respect to Preferred Stock of Restricted Subsidiaries held by
Persons other than the Company or a Restricted Subsidiary (except to the extent
paid in Capital Stock (other than Disqualified Stock)).  The amount of any such dividend shall be
equal to the quotient of such dividend divided by the difference between one
and the maximum statutory Federal income rate (expressed as a decimal number between
1 and 0) then applicable to the issuer of such Preferred Stock.

 

“principal” of any Debt (including the
Securities) means the principal amount of such Debt plus the premium, if any,
on such Debt.

 

“pro forma” means, with respect to any
calculation made or required to be made pursuant to the terms hereof, a
calculation performed in accordance with Article 11 of Regulation S-X
promulgated under the Securities Act, as interpreted in good faith by the chief
financial officer of the Company after consultation with the independent
certified public accountants of the Company, except that any such pro forma
calculation may include operating expense reductions for such period
attributable to the transaction to which pro forma effect is being given
(including, without limitation, operating expense reductions attributable to
execution or termination of any contract, reduction of costs related to
administrative functions, the termination of any employees or the closing (or
the approval by the Board of Directors of the closing) of any facility) that
have been realized or for which all steps necessary for the realization of
which have been taken or are reasonably expected to be taken within six months
following such transaction, provided, that such adjustments are set forth in an
Officers’ Certificate which states (i) the amount of such adjustment or
adjustments and (ii) that such adjustment or adjustments are based on the
reasonable good faith beliefs of the Officers executing such Officers’
Certificate.

 

25

 

“Property” means, with respect to any
Person, any interest of such Person in any kind of property or asset, whether
real, personal or mixed, or tangible or intangible, including Capital Stock in,
and other securities of, any other Person. 
For purposes of any calculation required pursuant to this Indenture, the
value of any Property shall be its Fair Market Value.

 

“Qualified Equity Offering” means
(1) an underwritten primary public offering of common stock of the Company
or any Parent pursuant to an effective registration statement under the
Securities Act or (2) any private placement of common stock of the Company
or any Parent to any Person who is not a Subsidiary of the Company or an
employee stock ownership plan or trust established by the Company or any such
Subsidiary for the benefit of their employees.

 

“Refinance” means, in respect of any
Debt, to refinance, extend, renew, refund, repay, prepay, repurchase, redeem,
defease or retire, or to issue other Debt, in exchange or replacement for, such
Debt.  “Refinanced” and “Refinancing”
shall have correlative meanings.

 

“Related Business” means any business
that is related, ancillary or complementary to the businesses of the Company
and the Restricted Subsidiaries on the Issue Date.

 

“Related Parties” means, with respect
to any specified Person at any specified time,

 

(1)  if a natural person, (A) any spouse,
parent or lineal descendant (including by adoption) of such Person or
(B) the estate of such Person during any period in which such estate holds
Capital Stock of any Parent or of the Company for the benefit of any Person
referred to in clause (1)(A), and

 

(2)  if a trust, corporation, partnership, limited
liability company or other entity, any other Person that controls such Person
at such time.  For the purposes of this
definition, “control” when used with respect to any Person means the power to
direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise.

 

“Repay” means, in respect of any Debt,
to repay, prepay, repurchase, redeem, legally defease or otherwise retire such
Debt.  “Repayment” and “Repaid” shall
have correlative meanings.

 

“Representative” means the trustee,
agent or representative expressly authorized to act in such capacity, if any,
for an issue of Senior Debt.

 

“Representative Amount” means a
principal amount of not less than $1,000,000 for a single transaction in the
relevant market at the relevant time.

 

26

 

“Restricted Payment” means:

 

(a) any
dividend or distribution (whether made in cash, securities or other Property)
declared or paid on or with respect to any shares of Capital Stock of the
Company or any Restricted Subsidiary (including any payment in connection with
any merger or consolidation with or into the Company or any Restricted
Subsidiary), except for any dividend or distribution that is made solely to the
Company or a Restricted Subsidiary (and, if the Restricted Subsidiary making such
dividend or distribution is not a Wholly Owned Restricted Subsidiary, such
dividend or distribution is made to the other holders of Capital Stock of such
Restricted Subsidiary on a pro  rata basis or on a basis that
results in the receipt by the Company or a Restricted Subsidiary of dividends
or distributions of greater value than it would receive on a pro rata basis) or
any dividend or distribution payable solely in shares of Capital Stock (other
than Disqualified Stock) of the Company;

 

(b) the
purchase, repurchase, redemption, acquisition or retirement for value of any
Capital Stock of the Company or any Restricted Subsidiary (other than from the
Company or a Restricted Subsidiary) or any securities exchangeable for or
convertible into any such Capital Stock, including (1) in connection with
any merger, consolidation or amalgamation and (2) the exercise of any
option to exchange any Capital Stock (other than for or into Capital Stock of
the Company that is not Disqualified Stock);

 

(c) the
purchase, repurchase, redemption, acquisition or retirement for value, prior to
the date for any scheduled maturity, sinking fund or amortization or other
installment payment, of any Subordinated Obligation (other than (1) the
purchase, repurchase or other acquisition of any Subordinated Obligation
purchased in anticipation of satisfying a scheduled maturity, sinking fund or
amortization or other installment obligation, in each case due within one year
of the date of acquisition or (2) the redemption of the subordinated
physician notes in connection with conversions of physician management practice
entities and/or physicians affiliated with such physician management practice
entities to the service line structure or the termination of a Management
Services Agreement as in effect on the Issue Date;

 

(d) any
Investment (other than Permitted Investments) in any Person; or

 

(e) the
issuance, sale or other disposition of Capital Stock of any Restricted
Subsidiary to a Person other than the Company or another Restricted Subsidiary
if the result thereof is that such Restricted Subsidiary shall cease to be a
Restricted Subsidiary, in which event the amount of such “Restricted Payment”
shall be the Fair Market Value of the remaining interest, if any, in such
former Restricted Subsidiary held by the Company and the other Restricted
Subsidiaries, unless such issuance, sale or other disposition is classified as
a Permitted Investment.

 

27

 

“Restricted Subsidiary” means any
Subsidiary of the Company other than an Unrestricted Subsidiary.

 

“S&P” means Standard & Poor’s
Ratings Services or any successor to the rating agency business thereof.

 

“Sale and Leaseback Transaction” means
any direct or indirect arrangement relating to Property now owned or hereafter
acquired whereby the Company or a Restricted Subsidiary transfers such Property
to another Person and the Company or a Restricted Subsidiary leases it from
such Person.

 

“SEC” means the Securities and
Exchange Commission.

 

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

 

“Securities Act” means the Securities
Act of 1933.

 

“Senior Notes” means the 9% Senior
Notes due 2012 of US Oncology.

 

“Senior Subordinated Notes” means the
10 3/4% Senior Subordinated Notes due 2014 of US Oncology.

 

“Significant Subsidiary” means any
Subsidiary that would be a “Significant Subsidiary” of the Company within the
meaning of Rule 1-02 under Regulation S-X promulgated by the SEC.

 

“Stated Maturity” means, with respect
to any security, the date specified in such security as the fixed date on which
the payment of principal of such security is due and payable, including
pursuant to any mandatory redemption provision (but excluding any provision
providing for the repurchase of such security at the option of the holder
thereof upon the happening of any contingency beyond the control of the issuer
unless such contingency has occurred).

 

“Subordinated Obligation” means any
Debt of the Company (whether outstanding on the Issue Date or thereafter
Incurred) that is subordinate or junior in right of payment to the Securities
pursuant to a written agreement to that effect.

 

“Subsidiary” means, in respect of any
Person, any corporation, company (including any limited liability company),
association, partnership, joint venture or other business entity of which a
majority of the total voting power of the Voting Stock is at the time owned or
controlled, directly or indirectly, by:

 

(a) such
Person,

 

(b) such
Person and one or more Subsidiaries of such Person, or

 

(c) one or
more Subsidiaries of such Person.

 

28

 

“Subsidiary Guarantor” means any
Person that becomes a Subsidiary Guarantor pursuant to Section 4.14.

 

“Subsidiary Guarantee” means a
Guarantee on the terms set forth in this Indenture by a Subsidiary Guarantor of
the Company’s obligations with respect to the Securities.

 

“Telerate Page 3750” means the display
designated as “Page 3750” on the Moneyline Telerate service or any successor
service (or such other page as may replace Page 3750 on that service or any
successor service).

 

“Temporary Cash Investments” means any
of the following:

 

(a)
Investments in U.S. Government Obligations maturing within 365 days of the date
of acquisition thereof;

 

(b)
Investments in time deposit accounts, certificates of deposit and money market
deposits maturing within 270 days of the date of acquisition thereof issued by
a bank or trust company organized under the laws of the United States of
America or any state thereof or any foreign country recognized by the United
States of America, which bank or trust company has capital, surplus and
undivided profits aggregating in excess of $500,000,000 and whose long-term
debt is rated “A-3” or “A-” or higher according to Moody’s or S&P (or such
similar equivalent rating by at least one “nationally recognized statistical
rating organization” (as defined in Rule 436 under the Securities Act));

 

(c) repurchase
obligations with a term of not more than 30 days for underlying securities of
the types described in clause (a) entered into with:

 

(1)  a bank meeting the qualifications
described in clause (b) above, or

 

(2)  any primary government securities
dealer reporting to the Market Reports Division of the Federal Reserve Bank of
New York;

 

(d)
Investments in commercial paper, maturing not more than 90 days after the date
of acquisition, issued by a corporation (other than an Affiliate of the
Company) organized and in existence under the laws of the United States of
America or any foreign country recognized by the United States of America with
a rating at the time as of which any Investment therein is made of “P-1” (or
higher) according to Moody’s or “A-1” (or higher) according to S&P (or such
similar equivalent rating by at least one “nationally recognized statistical
rating organization” (as defined in Rule 436 under the Securities Act));

 

(e) direct
obligations (or certificates representing an ownership interest in such
obligations) of any state of the United States of America or any political
subdivision thereof (including any agency or instrumentality of any such state
or political subdivision thereof) for the payment of which the full faith and
credit of

 

29

 

such state is pledged and which are not
callable or redeemable at the issuer’s option, provided that:

 

(1)  the long-term debt of such state is
rated “A-3” or “A-” or higher according to Moody’s or S&P (or such similar
equivalent rating by at least one “nationally recognized statistical rating
organization” (as defined in Rule 436 under the Securities Act)), and

 

(2)  such obligations mature within 180
days of the date of acquisition thereof; and

 

(f) investment
in funds which invest all or substantially all of their assets in Temporary
Cash Investments of the kind described in clauses (a) through (e) of this
definition.

 

“TIA” means the Trust Indenture Act of
1939 (15 U.S.C. §§ 77aaa-77bbbb) as in effect on the date of this Indenture; provided, however, that, in the event the TIA is
amended after such date, “Trust Indenture Act” means, to the extent required by
any such amendments, the Trust Indenture Act of 1939 as so amended.

 

“Total Tangible Assets” means, as of
any date of determination, the sum of the amounts that would appear on a
consolidated balance sheet of the Company and its consolidated Restricted
Subsidiaries as the total assets (less, to the extent not deducted in the
determination of total assets, accumulated depreciation and amortization,
allowances for doubtful receivables, other applicable reserves and other
properly deductible items) of the Company and its Restricted Subsidiaries,
after giving effect to purchase accounting and after deducting therefrom, to
the extent otherwise included, the amounts of (without duplication):

 

(a) the excess
of cost over Fair Market Value of Property;

 

(b) any
revaluation or other write-up in book value of assets subsequent to the last
day of the fiscal quarter of the Company immediately preceding the Issue Date
as a result of a change in the method of valuation in accordance with GAAP;

 

(c)
unamortized debt discount and expenses and other unamortized deferred charges,
goodwill, patents, trademarks, service marks, trade names, copyrights,
licenses, organization or developmental expenses, Management Services Agreements
and other intangible items as to which Statement of Financial Accounting
Standards No. 142, “Goodwill and Other Intangible Assets” applies;

 

(d) minority
interests in consolidated Subsidiaries held by Persons other than the Company
or any Restricted Subsidiary;

 

(e) treasury
stock;

 

30

 

(f) cash or
securities set aside and held in a sinking or other analogous fund established
for the purpose of redemption or other retirement of Capital Stock; and

 

(g)
Investments in and Property of Unrestricted Subsidiaries (other than Permitted
Joint Ventures).

 

“Transactions” means the merger
contemplated by the Merger Agreement and each other transaction contemplated
thereby, all as more fully described in the Offering Memorandum.

 

“Trustee” means LaSalle Bank National
Association, a national banking association, until a successor replaces it and,
thereafter, means the successor.

 

“Trust Officer” means any officer
within the Corporate Trust Administration department of the Trustee (or any
successor group of the trustee) with direct responsibility for the
administration of this Indenture and also means, with respect to a particular
corporate trust matter, any other officer to whom such matter is referred
because of his knowledge of and familiarity with the particular subject.

 

“Unrestricted Subsidiary” means:

 

(a) Southeast
Texas Cancer Centers, L.P., Cancer Treatment Associates of Northeast Missouri,
Ltd., Colorado Cancer Centers, LLC, AOR Real Estate of Greenville, L.P., The
Carroll County Cancer Center, Limited Partnership, Oregon Cancer Center, Ltd.,
US Oncology Pharmacy GPO, L.P., AOR Management Company of Kansas, Inc. and East
Indy CC, LLC;

 

(b) any
Subsidiary of the Company that is designated after the Issue Date as an
Unrestricted Subsidiary as permitted or required pursuant to Section 4.11
and is not thereafter redesignated as a Restricted Subsidiary as permitted
pursuant thereto; and

 

(c) any
Subsidiary of an Unrestricted Subsidiary.

 

“U.S. Government Obligations” means
direct obligations (or certificates representing an ownership interest in such
obligations) of the United States of America (including any agency or
instrumentality thereof) for the payment of which the full faith and credit of
the United States of America is pledged and which are not callable or
redeemable at the issuer’s option.

 

“US Oncology” means US Oncology, Inc.,
a Delaware corporation.

 

“US Oncology Board” means the board of
directors of US Oncology or any committee thereof duly authorized to act on
behalf of such board.

 

“Voting Stock” of any Person means all
classes of Capital Stock or other interests (including partnership interests)
of such Person then outstanding and normally

 

31

 

entitled
(without regard to the occurrence of any contingency) to vote in the election
of directors, managers or trustees thereof.

 

“Wholly Owned Restricted Subsidiary”
means, at any time, a Restricted Subsidiary all the Voting Stock of which
(except directors’ qualifying shares) is at such time owned, directly or
indirectly, by the Company and its other Wholly Owned Subsidiaries.

 

SECTION 1.02. 
Other Definitions.

 

	
  Term

  	
   

  	
  Defined in

  Section

  	
   

  
	
  “Affiliate Transaction”

  	
   

  	
  4.08

  	
   

  
	
  “Bankruptcy Law”

  	
   

  	
  6.01

  	
   

  
	
  “Change of Control Offer”

  	
   

  	
  4.13

  	
   

  
	
  “Change of Control Payment Date”

  	
   

  	
  4.13

  	
   

  
	
  “Change of Control Purchase Price”

  	
   

  	
  4.13

  	
   

  
	
  “covenant defeasance option”

  	
   

  	
  8.01

  	
   

  
	
  “Custodian”

  	
   

  	
  6.01

  	
   

  
	
  “Event of Default”

  	
   

  	
  6.01

  	
   

  
	
  “Exchange Security”

  	
   

  	
  Appendix A

  	
   

  
	
  “Global Security”

  	
   

  	
  Appendix A

  	
   

  
	
  “Initial Lien”

  	
   

  	
  4.09

  	
   

  
	
  “legal defeasance option”

  	
   

  	
  8.01

  	
   

  
	
  “Legal Holiday”

  	
   

  	
  11.08

  	
   

  
	
  “Obligations”

  	
   

  	
  10.01

  	
   

  
	
  “Offer Amount”

  	
   

  	
  4.06

  	
   

  
	
  “Offer Period”

  	
   

  	
  4.06

  	
   

  
	
  “OID”

  	
   

  	
  2.01

  	
   

  
	
  “Offered Securities”

  	
   

  	
  2.01

  	
   

  
	
  “Paying Agent”

  	
   

  	
  2.04

  	
   

  
	
  “Permitted Debt”

  	
   

  	
  4.03

  	
   

  
	
  “Prepayment Offer”

  	
   

  	
  4.06

  	
   

  
	
  “Registered Exchange Offer

  	
   

  	
  Appendix A

  	
   

  
	
  “Registrar”

  	
   

  	
  2.04

  	
   

  
	
  “Shelf Registration Statement

  	
   

  	
  Appendix A

  	
   

  
	
  “Surviving Person”

  	
   

  	
  5.01

  	
   

  

 

SECTION 1.03. 
Incorporation by Reference of Trust Indenture Act.  This Indenture is subject to the mandatory
provisions of the TIA, which are incorporated by reference in and made a part
of this Indenture.  The following TIA
terms have the following meanings:

 

“Commission”
means the SEC.

 

“indenture
securities” means the Securities and the Subsidiary Guarantees.

 

32

 

“indenture
security holder” means a Securityholder.

 

“indenture to
be qualified” means this Indenture.

 

“indenture
trustee” or “institutional trustee” means the Trustee.

 

“obligor” on
the indenture securities means the Company, each Subsidiary Guarantor and any
other obligor on the indenture securities.

 

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

 

SECTION 1.04. 
Rules of Construction.  Unless the context otherwise requires:

 

(1)  a term has the
meaning assigned to it;

 

(2)  an accounting term
not otherwise defined has the meaning assigned to it in accordance with GAAP;

 

(3)  “or” is not
exclusive;

 

(4)  “including” means
including without limitation;

 

(5)  words in the singular
include the plural and words in the plural include the singular;

 

(6)  unsecured Debt shall
not be deemed to be subordinate or junior to secured Debt merely by virtue of
its nature as unsecured Debt;

 

(7)  the principal amount
of any noninterest bearing or other discount security at any date shall be the
principal amount thereof that would be shown on a balance sheet of the issuer
dated such date prepared in accordance with GAAP; and

 

(8)  the principal amount
of any Preferred Stock shall be the greater of (i) the maximum liquidation
value of such Preferred Stock or (ii) the maximum mandatory redemption or
mandatory repurchase price with respect to such Preferred Stock.

 

ARTICLE II

 

The Securities

 

SECTION 2.01. 
Amount of Securities; Issuable in Series.  The aggregate principal amount of Securities
which may be authenticated and delivered under this Indenture is unlimited,
subject to compliance with Section 4.03. 
All Securities shall be

 

33

 

identical in all respects other than issue prices and issuance
dates.  The Securities may be issued in
one or more series; provided, however,
that any Securities issued with original issue discount (“OID”) for Federal
income tax purposes shall not be issued as part of the same series as any
Securities that are issued with a different amount of OID or are not issued
with OID.  All Securities of any one
series shall be substantially identical except as to denomination.

 

Subject to
Section 2.03, the Trustee shall authenticate Securities for original issue
on the Issue Date in the aggregate principal amount of $250,000,000 (the “Offered
Securities”).  With respect to any
Securities issued after the Issue Date (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of,
Initial Securities pursuant to Section 2.07, 2.08, 2.09 or 3.06 or
Appendix A), there shall be established in or pursuant to a resolution of the
Board of Directors, and subject to Section 2.03, set forth, or determined
in the manner provided in an Officers’ Certificate, or established in one or
more indentures supplemental hereto, prior to the issuance of such Securities:

 

(1)  whether such
Securities shall be issued as part of a new or existing series of Securities
and the title of such Securities (which shall distinguish the Securities of the
series from Securities of any other series);

 

(2)  the aggregate
principal amount of such Securities that may be authenticated and delivered
under this Indenture is unlimited (except for Securities authenticated and
delivered upon registration of transfer of, or in exchange for, or in lieu of,
other Securities of the same series pursuant to Section 2.07, 2.08, 2.09
or 3.06 or Appendix A and except for Securities which, pursuant to
Section 2.03, are deemed never to have been authenticated and delivered
hereunder), subject to compliance with Section 4.03;

 

(3)  the issue price and
issuance date of such Securities, including the date from which interest on
such Securities shall accrue;

 

(4)  if applicable, that
such Securities shall be issuable in whole or in part in the form of one or
more Global Securities and, in such case, the respective depositories for such
Global Securities, the form of any legend or legends that shall be borne by any
such Global Security in addition to or in lieu of that set forth in Exhibit 1
to Appendix A and any circumstances in addition to or in lieu of those set
forth in Section 2.3 of Appendix A in which any such Global Security may
be exchanged in whole or in part for Securities registered, and any transfer of
such Global Security in whole or in part may be registered, in the name or
names of Persons other than the depository for such Global Security or a
nominee thereof; and

 

(5)  if applicable, that
such Securities shall not be issued in the form of Initial Securities subject
to Appendix A, but shall be issued in the form of Exchange Securities as set
forth in Exhibit A.

 

34

 

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

 

SECTION 2.02. 
Form and Dating. 
Provisions relating to the Initial Securities of each series and the
Exchange Securities are set forth in Appendix A, which is hereby incorporated
in and expressly made part of this Indenture. 
The Initial Securities of each series and the Trustee’s certificate of
authentication shall be substantially in the form of Exhibit 1 to Appendix A
which is hereby incorporated in and expressly made a part of this
Indenture.  The Exchange Securities and
the Trustee’s certificate of authentication shall be substantially in the form
of Exhibit A, which is hereby incorporated in and expressly made a part of this
Indenture.  The Securities of each series
may have notations, legends or endorsements required by law, stock exchange
rule, agreements to which the Company is subject, if any, or usage, provided
that any such notation, legend or endorsement is in a form reasonably
acceptable to the Company.  Each Security
shall be dated the date of its authentication. 
The terms of the Securities of each series set forth in Exhibit 1 to
Appendix A and Exhibit A are part of the terms of this Indenture.

 

SECTION 2.03. 
Execution and Authentication.  Two Officers shall sign the Securities for
the Company by manual or facsimile signature. 
The Company’s seal may be impressed, affixed, imprinted or reproduced on
the Securities and may be in facsimile form.

 

If an Officer
whose signature is on a Security no longer holds that office at the time the
Trustee authenticates the Security, the Security shall be valid nevertheless.

 

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 in the
form of an Officers’ Certificate for the authentication and delivery of such
Securities, and the Trustee in accordance with such written order of the
Company shall authenticate and deliver such Securities.

 

A Security
shall not be valid until an authorized signatory of the Trustee manually signs
the certificate of authentication on the Security.  The signature shall be conclusive evidence
that the Security has been authenticated under this Indenture.

 

The Trustee
may appoint an authenticating agent reasonably acceptable to the Company to
authenticate the Securities.  Any such
appointment shall be evidenced by an instrument signed by the Trustee, a copy
of which shall be furnished to the Company. 
Unless limited by the terms of such appointment, an authenticating agent
may authenticate Securities whenever the Trustee may do so.  Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent.  An authenticating 

 

35

 

agent has the same rights as
any Registrar, Paying Agent or agent for service of notices and demands.

 

SECTION 2.04. 
Registrar and Paying Agent.  The Company shall maintain an office or
agency where Securities may be presented for registration of transfer or for
exchange (the “Registrar”) and an office or agency where Securities may be
presented for payment (the “Paying Agent”). 
The Registrar shall keep a register of the Securities and of their
transfer and exchange.  The Company may
have one or more co-registrars and one or more additional paying agents.  The term “Registrar” includes any
co-registrar.  The term “Paying Agent”
includes any additional paying agent.

 

The Company
shall enter into an appropriate agency agreement with any Registrar or Paying
Agent not a party to this Indenture, which shall incorporate the terms of the
TIA.  The agreement shall implement the
provisions of this Indenture that relate to such agent.  The Company shall notify the Trustee of the
name and address of any such agent.  If
the Company fails to maintain a Registrar or Paying Agent, the Trustee shall
act as such and shall be entitled to appropriate compensation therefor pursuant
to Section 7.07.  The Company or any
of its domestically incorporated Wholly Owned Subsidiaries may act as Paying
Agent, Registrar or transfer agent.

 

The Company
initially appoints the Trustee as Registrar and Paying Agent in connection with
the Securities.

 

The Company
may remove any Registrar or Paying Agent upon written notice to such Registrar
or Paying Agent and to the Trustee; provided, however, that no
such removal shall become effective until (i) acceptance of an appointment by a
successor as evidenced by an appropriate agreement entered into by the Company
and such successor Registrar or Paying Agent, as the case may be, and delivered
to the Trustee or (ii) notification to the Trustee that the Trustee shall serve
as Registrar or Paying Agent until the appointment of a successor in accordance
with clause (i) above.  The Registrar or
Paying Agent may resign at any time upon written notice to the Company and the
Trustee.

 

SECTION 2.05. 
Paying Agent To Hold Money in Trust.  On or prior to each due date of the principal
and interest on any Security, the Company shall deposit with the Paying Agent a
sum sufficient to pay such principal and interest when so becoming due.  The Company shall require each Paying Agent
(other than the Trustee) to agree in writing that the Paying Agent shall hold
in trust for the benefit of Securityholders or the Trustee all money held by
the Paying Agent for the payment of principal of or interest on the Securities
and shall notify the Trustee of any default by the Company in making any such
payment.  If the Company or a Wholly
Owned Subsidiary acts as Paying Agent, it shall segregate the money held by it
as Paying Agent and hold it as a separate trust fund.  The Company at any time may require a Paying
Agent to pay all money held by it to the Trustee and to account for any funds
disbursed by the Paying Agent.  Upon
complying with this Section, the Paying Agent shall have no further liability
for the money delivered to the Trustee.

 

36

 

SECTION 2.06. 
Securityholder Lists.  The Trustee shall preserve in as current a
form as is reasonably practicable the most recent list available to it of the
names and addresses of Securityholders and shall otherwise comply with TIA §
312(a).  If the Trustee is not the
Registrar, the Company shall furnish to the Trustee, in writing at least five
Business Days before each interest payment date and at such other times as the
Trustee may request in writing, a list in such form and as of such date as the
Trustee may reasonably require of the names and addresses of Securityholders.

 

SECTION 2.07. 
Replacement Securities.  If a mutilated Security is surrendered to the
Registrar or if the Holder of a Security claims that such Security has been
lost, destroyed or wrongfully taken, the Company shall issue and the Trustee
shall authenticate a replacement Security if the requirements of
Section 8-405 of the Uniform Commercial Code are met and the Holder
satisfies any other reasonable requirements of the Trustee.  If required by the Trustee or the Company,
such Holder shall furnish an indemnity bond sufficient in the judgment of the
Company and the Trustee to protect the Company, the Trustee, the Paying Agent
and the Registrar from any loss which any of them may suffer if a Security is
replaced.  The Company and the Trustee
may charge the Holder for their expenses in replacing a Security.

 

Every
replacement Security is an additional obligation of the Company.

 

SECTION 2.08. 
Outstanding Securities.  Securities outstanding at any time are all
Securities authenticated by the Trustee except for those canceled by it, those
delivered to it for cancelation and those described in this Section as not
outstanding.  A Security does not cease
to be outstanding because the Company or an Affiliate of the Company holds the
Security.

 

If a Security
is replaced pursuant to Section 2.07, it ceases to be outstanding unless
the Trustee and the Company receive proof satisfactory to them that the
replaced Security is held by a bona fide purchaser.

 

If the Paying
Agent segregates and holds in trust, in accordance with this Indenture, on a
redemption date or maturity date money sufficient to pay all principal and
interest payable on that date with respect to the Securities (or portions
thereof) to be redeemed or maturing, as the case may be, and the Paying Agent is
not prohibited from paying such money to the Securityholders on that date
pursuant to the terms of this Indenture, then on and after that date such
Securities (or portions thereof) cease to be outstanding and interest on them
ceases to accrue.

 

SECTION 2.09. 
Temporary Securities.  Until definitive Securities are ready for
delivery, the Company may prepare and the Trustee shall authenticate temporary
Securities.  Temporary Securities shall
be substantially in the form of definitive Securities but may have variations
that the Company considers appropriate for temporary Securities.  Without unreasonable delay, the Company shall
prepare and the Trustee shall authenticate definitive Securities and deliver
them in exchange for temporary Securities.

 

37

 

SECTION 2.10. 
Cancelation. 
The Company at any time may deliver Securities to the Trustee for
cancelation.  The Registrar and the
Paying Agent shall forward to the Trustee any Securities surrendered to them
for registration of transfer, exchange or payment.  The Trustee and no one else shall cancel and
destroy (subject to the record retention requirements of the Exchange Act) all
Securities surrendered for registration of transfer, exchange, payment or
cancelation and deliver a certificate of such destruction to the Company unless
the Company directs the Trustee to deliver canceled Securities to the
Company.  The Company may not issue new
Securities to replace Securities it has redeemed, paid or delivered to the
Trustee for cancelation.

 

SECTION 2.11. 
Defaulted Interest. 
If the Company defaults in a payment of interest on the Securities, the
Company shall pay the defaulted interest (plus interest on such defaulted
interest to the extent lawful) in any lawful manner.  The Company may pay the defaulted interest to
the persons who are Securityholders on a subsequent special record date.  The Company shall fix or cause to be fixed
any such special record date and payment date to the reasonable satisfaction of
the Trustee and shall promptly mail to each Securityholder a notice that states
the special record date, the payment date and the amount of defaulted interest
to be paid.

 

SECTION 2.12. 
CUSIP Numbers. 
The Company in issuing the Securities may use “CUSIP” numbers and corresponding
“ISIN” numbers (if then generally in use) and, if so, the Trustee shall use “CUSIP”
numbers in notices of redemption as a convenience to Holders; provided, however, that neither the Company nor the
Trustee shall have any responsibility for any defect in the “CUSIP” number that
appears on any Security, check, advice of payment or redemption notice, and any
such notice may state that no representation is made as to the correctness of
such numbers either as printed on the Securities or as contained in any notice
of a redemption and that reliance may be placed only on the other
identification numbers printed on the Securities, and any such redemption shall
not be affected by any defect in or omission of such numbers.

 

ARTICLE III

 

Redemption

 

SECTION 3.01. 
Notices to Trustee. 
If the Company elects to redeem Securities pursuant to paragraph 5 of
the Securities, it shall notify the Trustee in writing of the redemption date,
the principal amount of Securities to be redeemed and that such redemption is
being made pursuant to paragraph 5 of the Securities.

 

The Company
shall give each notice to the Trustee provided for in this Section in
connection with a redemption pursuant to paragraph 5 of the Securities at
least 45 days before the redemption date unless the Trustee consents to a
shorter period.    Such notice shall be
accompanied by an Officers’ Certificate and an Opinion of Counsel from the
Company to the effect that such redemption will comply with the conditions
herein.

 

38

 

SECTION 3.02. 
Selection of Securities To Be Redeemed.  If fewer than all the Securities are to be
redeemed, the Trustee shall select the Securities to be redeemed pro rata or by
lot or by a method that complies with applicable legal and securities exchange
requirements, if any, and that the Trustee considers fair and appropriate and
in accordance with methods generally used at the time of selection by
fiduciaries in similar circumstances.  The
Trustee shall make the selection from outstanding Securities not previously
called for redemption.  The Trustee may
select for redemption portions of the principal of Securities that have
denominations larger than $1,000. 
Securities and portions of them the Trustee selects shall be in amounts
of $1,000 or a whole multiple of $1,000. 
Provisions of this Indenture that apply to Securities called for
redemption also apply to portions of Securities called for redemption.  The Trustee shall notify the Company promptly
of the Securities or portions of Securities to be redeemed.

 

SECTION 3.03. 
Notice of Redemption.  At least 30 days but not more than 60 days
before a date for redemption of Securities, the Company shall mail or cause to
be mailed a notice of redemption by first-class mail to each Holder of
Securities to be redeemed.

 

The notice
shall identify the Securities to be redeemed and shall state:

 

(i)  the redemption date;

 

(ii)  the redemption price or the
information specified in paragraph 6 of the Securities;

 

(iii)  the name and address of
the Paying Agent;

 

(iv)  that Securities called for
redemption must be surrendered to the Paying Agent to collect the redemption
price;

 

(v)  if fewer than all the
outstanding Securities are to be redeemed, the identification and principal
amounts of the particular Securities to be redeemed;

 

(vi)  that, unless the Company
defaults in making such redemption payment, interest on Securities (or portion
thereof) called for redemption ceases to accrue on and after the redemption
date; and

 

(vii)  that no representation is
made as to the correctness or accuracy of the CUSIP number, if any, listed in
such notice or printed on the Securities.

 

At the Company’s
request, the Trustee shall give the notice of redemption in the Company’s name
and at the Company’s expense.  In such
event, the Company shall provide the Trustee with the information required by
this Section.

 

39

 

SECTION 3.04. 
Effect of Notice of Redemption.  Once notice of redemption is mailed,
Securities called for redemption become due and payable on the redemption date
and at the redemption price stated in the notice.  Upon surrender to the Paying Agent, such
Securities shall be paid at the redemption price stated in the notice, plus
accrued interest to the redemption date (subject to the right of Holders of
record on the relevant record date to receive interest due on the related
interest payment date that is on or prior to the date of redemption).  Failure to give notice or any defect in the
notice to any Holder shall not affect the validity of the notice to any other
Holder.

 

SECTION 3.05. 
Deposit of Redemption Price.  On or prior to the redemption date, the
Company shall deposit with the Paying Agent (or, if the Company or a Wholly
Owned Subsidiary is the Paying Agent, shall segregate and hold in trust) money
sufficient to pay the redemption price of and accrued interest (subject to the
right of Holders of record on the relevant record date to receive interest due
on the related interest payment date that is on or prior to the date of
redemption) on all Securities to be redeemed on that date other than Securities
or portions of Securities called for redemption that have been delivered by the
Company to the Trustee for cancelation. The Trustee or the Paying Agent will
promptly return to the Company any money deposited with the Trustee or Paying
Agent by the Company in excess of the amounts necessary to pay the redemption
price of and accrued interest on all Securities to be redeemed.

 

SECTION 3.06. 
Securities Redeemed in Part.  Upon surrender of a Security that is redeemed
in part, the Company shall execute and the Trustee shall authenticate for the
Holder (at the Company’s expense) a new Security equal in principal amount to
the unredeemed portion of the Security surrendered.

 

ARTICLE IV

Covenants

 

SECTION 4.01. 
Payment of Securities.  The Company shall promptly pay the principal
of and interest on the Securities on the dates and in the manner provided in
the Securities and in this Indenture. 
Principal and interest shall be considered paid on the date due if on
such date the Trustee or the Paying Agent holds in accordance with this
Indenture money sufficient to pay all principal and interest then due.

 

The Company
shall pay interest on overdue principal at the rate specified therefor in the
Securities, and it shall pay interest on overdue installments of interest at
the rate borne by the Securities to the extent lawful.

 

SECTION 4.02. 
Reports. 
(a)  Whether or not required by
the SEC, so long as any Securities are outstanding, if not filed electronically
with the SEC through the SEC’s Electronic Data Gathering, Analysis, and
Retrieval System (or any successor system), the Company will furnish to the
holders of Securities, within the time periods specified in the SEC’s rules and
regulations:

 

40

 

(1)  all quarterly and
annual financial information that would be required to be contained in a filing
with the SEC on Forms 10-Q and 10-K if the Company were required to file such
Forms, including a “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” and, with respect to the annual information only, a
report on the annual financial statements by the Company’s certified
independent accountants; and

 

(2)  all current reports
that would be required to be filed with the SEC on Form 8-K if the Company were
required to file such reports.

 

(b)  Whether or not required by the SEC, after the
consummation of the Registered Exchange Offer or the effectiveness of the Shelf
Registration Statement, the Company will file a copy of all of the information
and reports referred to in clauses (1) and (2) of paragraph (a) above with
the SEC for public availability within the time periods specified in the SEC’s
rules and regulations (unless the SEC will not accept such a filing) and make
such information available to securities analysts and prospective investors
upon request.  In addition, for so long
as any Securities remain outstanding, the Company will furnish to the holders
of the Securities and to securities analysts and prospective investors, upon
their request, the information required to be delivered pursuant to Rule
144A(4) under the Securities Act.

 

(c)  If at any time any Parent Guarantees the Securities
(there being no obligation of any Parent to do so), holds no material assets
other than cash, Cash Equivalents and the Capital Stock of the Company or of
any direct or indirect parent corporation of the Company (and performs the
related incidental activities associated with such ownership) and complies with
the requirements of Rule 3-10 of Regulation S-X promulgated by the SEC (or any
successor provision), the reports, information and other documents required to
be filed and furnished to holders of the Securities pursuant to this covenant
may, at the option of the Company, be filed by and be those of Parent rather
than the Company.

 

(d)  Notwithstanding the foregoing, the
requirements of this Section 4.02 shall be deemed satisfied prior to the
commencement of the Registered Exchange Offer or the effectiveness of the Shelf
Registration Statement by the filing with the SEC of the Exchange Offer
Registration Statement and/or Shelf Registration Statement, and any amendments
thereto, with such financial information that satisfies Regulation S-X of the
Securities Act.

 

(e)  If the Company has designated any of its
Subsidiaries as Unrestricted Subsidiaries and such Unrestricted Subsidiaries,
either individually or collectively, would otherwise have been a Significant
Subsidiary, then the quarterly and annual financial information referred to in
clause (1) above shall include a reasonably detailed presentation, either on
the face of the financial statements or in the footnotes to the financial
statements and in Management’s Discussion and Analysis of Financial Condition
and Results of Operations, of the financial condition and results of operations
of the Company and the Restricted Subsidiaries of the Company.

 

41

 

(f)  The Company shall deliver to the Trustee
within 120 days after the end of each fiscal year of the Company an Officer’s
Certificate stating whether or not the signatories know of any Default by the
Company in performing any of its obligations under this Indenture and the
Notes.  If such signatories have
knowledge of any such Default, the certificate shall describe the Default and
its status.

 

SECTION 4.03. 
Limitation on Debt. 
(a)  The Company shall not, and
shall not permit any Restricted Subsidiary to, Incur, directly or indirectly,
any Debt unless, after giving pro forma effect to the application of the
proceeds thereof, no Default or Event of Default would occur as a consequence
of such Incurrence or be continuing following such Incurrence and (1) such Debt is Debt of the Company or a
Restricted Subsidiary (other than US Oncology and its Restricted Subsidiaries)
and, after giving pro forma effect to the Incurrence of such Debt and the
application of the proceeds thereof, the Company’s Consolidated Interest
Coverage Ratio would be greater than 2.00 to 1.00 or (2) such Debt is Debt of
US Oncology and its Restricted Subsidiaries and, after giving pro forma effect
to the Incurrence of such Debt and the application of the proceeds thereof, US
Oncology’s Consolidated Interest Coverage Ratio would be greater than 2.00 to
1.00.

 

(b)  Notwithstanding the foregoing
paragraph (a), each of the following shall be permitted (collectively, “Permitted
Debt”):

 

(1)  Debt of the Company
evidenced by the Offered Securities and Debt of the Company represented by the
Exchange Securities;

 

(2)  Debt of the Company
or a Restricted Subsidiary under any Credit Facilities; provided, however, that the aggregate principal amount
of all such Debt under the Credit Facilities at any one time outstanding shall
not exceed $650,000,000, which amount shall be permanently reduced by the
amount of Net Available Cash used to Repay Debt under the Credit Facilities,
and not subsequently reinvested in Additional Assets or used to purchase Securities
or Repay other Debt, pursuant to Section 4.06;

 

(3)  Debt of the Company
owing to and held by any Restricted Subsidiary and Debt of a Restricted
Subsidiary owing to and held by the Company or any Restricted Subsidiary; provided, however, that (A) any subsequent issue
or transfer of Capital Stock or other event that results in any such Restricted
Subsidiary ceasing to be a Restricted Subsidiary or any subsequent transfer of
any such Debt (except to the Company or a Restricted Subsidiary) shall be deemed,
in each case, to constitute the Incurrence of such Debt by the issuer thereof
and (B) if the Company is the obligor on such Debt, such Debt is expressly
subordinated to the prior payment in full in cash of all obligations with
respect to the Securities;

 

(4)  Debt outstanding on
the Issue Date not otherwise described in clauses (1) through (3) above;

 

42

 

(5)  (A)  Debt (including Capital Lease Obligations)
Incurred by the Company or any Restricted Subsidiary (i) to finance the
purchase, lease, construction or improvement of property (real or personal) or
equipment (whether through the direct purchase of assets or the Capital Stock
of any Person owning such assets) at the time of, or within 270 days after, such
purchase, lease or improvement or (ii) as part of a Sale and Leaseback
Transaction and (B) Debt constituting Guarantees of Debt of Permitted
Joint Ventures; provided, however,
that the aggregate principal amount of such Debt and Guarantees, when taken
together with the amount of Debt and Guarantees previously Incurred pursuant to
this clause (5) and then outstanding (including any Permitted Refinancing Debt
with respect thereto), does not exceed the greater of (x) $50,000,000 and
(y) 6.0% of Total Tangible Assets;

 

(6)  Debt of a Restricted
Subsidiary outstanding on the date on which such Restricted Subsidiary was
acquired by the Company or otherwise became a Restricted Subsidiary (other than
Debt Incurred as consideration in, or to provide all or any portion of the
funds or credit support utilized to consummate, the transaction or series of
transactions pursuant to which such Restricted Subsidiary became a Subsidiary
of the Company or was otherwise acquired by the Company); provided, however, that at the time such Restricted
Subsidiary was acquired by the Company or otherwise became a Restricted
Subsidiary and after giving effect to the Incurrence of such Debt, the Company
would have been able to Incur $1.00 of additional Debt pursuant to paragraph
(a) of this Section 4.03;

 

(7)  Debt under Interest
Rate Agreements entered into by the Company or a Restricted Subsidiary for the
purpose of limiting interest rate risk in the ordinary course of the financial
management of the Company or such Restricted Subsidiary and not for speculative
purposes; provided, however, that
the obligations under such agreements are directly related to payment
obligations on Debt otherwise permitted by the terms of this Section 4.03;

 

(8)  Debt under Currency
Exchange Protection Agreements entered into by the Company or a Restricted
Subsidiary for the purpose of limiting currency exchange rate risks directly
related to transactions entered into by the Company or such Restricted
Subsidiary in the ordinary course of business and not for speculative purposes;

 

(9)  Debt in connection
with one or more standby letters of credit, performance, bid or surety bonds or
completion guarantees issued by the Company or a Restricted Subsidiary in the
ordinary course of business or repayment obligations pursuant to self-insurance
obligations and, in each case, not in connection with the borrowing of money or
the obtaining of advances or credit;

 

(10)  Debt arising from
agreements of the Company or a Restricted Subsidiary providing for
indemnification, adjustment of purchase price or similar obligations, in each
case, incurred in connection with the disposition of any business, assets or
Capital Stock of a Subsidiary, other than Guarantees of Debt

 

43

 

Incurred by any Person acquiring all or any portion of such business,
assets or Capital Stock; provided,
however, that the maximum aggregate liability in respect of all such Debt
shall at no time exceed the gross proceeds actually received by the Company or such
Restricted Subsidiary in connection with such disposition;

 

(11)  Debt arising from
the honoring by a bank or other financial institution of a check, draft or
similar instrument drawn against insufficient funds in the ordinary course of
business; provided, however, that
such Debt is extinguished within five Business Days of its Incurrence;

 

(12)  Permitted
Refinancing Debt Incurred in respect of Debt Incurred pursuant to paragraph (a)
of this Section 4.03 and clauses (1), (4), (5) and (6) above;

 

(13)  Debt in the form of
loans from Unrestricted Subsidiaries in an aggregate principal amount at any
time outstanding not to exceed $10,000,000;

 

(14)  Debt consisting of
promissory notes issued by the Company or any Restricted Subsidiary to current
or former officers, directors or employees of the Company or any of its
Subsidiaries (or permitted transferees of such officers, directors or
employees) to finance any repurchase of shares of Capital Stock or options to
purchase shares of Capital Stock made in accordance with clause (d) of the
second paragraph of Section 4.04;

 

(15)  any Guarantee by a
Restricted Subsidiary of Debt of another Restricted Subsidiary that was
Incurred in compliance with this covenant; and

 

(16)  in addition to the
items referred to in clauses (1) through (l5) above, Debt of the Company or a
Restricted Subsidiary in an aggregate principal amount which, when taken
together with the amount of Debt previously Incurred pursuant to this clause
(16) and then outstanding, does not exceed $50,000,000.

 

(c)  Notwithstanding anything to the
contrary contained in this Section 4.03,

 

(1)  the Company shall not
Incur any Debt pursuant to paragraph (b) of this Section 4.03 if the
proceeds thereof are used, directly or indirectly, to Refinance any Subordinated
Obligations unless such Debt shall be subordinated to the Securities to at
least the same extent as such Subordinated Obligations; and

 

(2)  the Company shall not
permit any Restricted Subsidiary to Incur any Debt pursuant to this
Section 4.03 if the proceeds thereof are used, directly or indirectly, to
Refinance any Debt of the Company.

 

(d)  For purposes of determining compliance
with this Section 4.03:

 

44

 

(1)  any Debt under the
Credit Facilities Outstanding on the Issue Date will be deemed to have been
Incurred pursuant to clause (2) of paragraph (b) above;

 

(2)  in the event that an
item of Debt meets the criteria of more than one of the types of Debt described
above, the Company, in its sole discretion, will classify such item of Debt at
the time of Incurrence and only be required to include the amount and type of
such Debt in one of the above clauses;

 

(3)  the Company will be
entitled to divide and classify an item of Debt in more than one of the types
of Debt described above; and

 

(4)  other than Debt
classified pursuant to clause (1) of this paragraph, following the date of its
Incurrence, any Debt originally classified as Incurred pursuant to one of the
clauses in the definition of “Permitted Debt” above may later be reclassified
by the Company such that it will be deemed as having been Incurred pursuant to
another clause in the definition of “Permitted Debt” above, as applicable, to
the extent that such reclassified Debt could be Incurred pursuant to such new
clause at the time of such reclassification.

 

SECTION 4.04. 
Limitation on Restricted Payments.  The Company shall not make, and shall not
permit any Restricted Subsidiary to make, directly or indirectly, any
Restricted Payment if at the time of, and after giving effect to, such proposed
Restricted Payment,

 

(a)  a
Default or Event of Default shall have occurred and be continuing,

 

(b) 
the Company or such Restricted Subsidiary, as the case may be, could not
Incur at least $1.00 of additional Debt pursuant to paragraph (a) of
Section 4.03; provided, that in determining whether additional Debt
may be Incurred pursuant to such paragraph (a) for purposes of this paragraph
(b) only, any of the Company’s non-cash interest expense and amortization of
original issue discount shall be excluded from the determination of the
Consolidated Net Income of the Company to the extent not already excluded
therefrom, or

 

(c) 
the aggregate amount of such Restricted Payment and all other Restricted
Payments declared or made since August 20, 2004 (the amount of any Restricted
Payment, if made other than in cash, to be based upon Fair Market Value) would
exceed an amount equal to the sum of (without duplication):

 

(1)  50% of the aggregate
amount of Consolidated Net Income of the Company (excluding, for purposes of
calculating the Consolidated Net Income of the Company for purposes of this
paragraph (c)(1) only, any of the Company’s non-cash interest expense and
amortization of original issue discount to the extent not already excluded
therefrom) accrued during the period (treated as one

 

45

 

accounting period) from the beginning of the fiscal quarter during
which August 20, 2004 occurred to the end of the most recent fiscal
quarter ending prior to the date of such Restricted Payment for which internal
financial statements are available (or if the aggregate amount of Consolidated
Net Income of the Company for such period shall be a deficit, minus 100% of
such deficit), plus

 

(2)  Capital Stock Sale
Proceeds, net cash capital contributions and the Fair Market Value of Property
(other than Debt) contributed in respect of the Company’s Capital Stock (other
than Disqualified Stock) subsequent to August 20, 2004, plus

 

(3)  the sum of:

 

(A)  the aggregate net cash
proceeds and the Fair Market Value of Property (other than Debt) received by
the Company or any Restricted Subsidiary from the issuance or sale after
August 20, 2004 of convertible or exchangeable Debt that has been converted
into or exchanged for Capital Stock (other than Disqualified Stock) of the
Company, and

 

(B)  the aggregate amount by
which Debt (other than Subordinated Obligations) of the Company or any
Restricted Subsidiary is reduced on the Company’s consolidated balance sheet on
or after August 20, 2004 upon the conversion or exchange of any Debt
issued or sold on or prior to August 20, 2004 that is convertible or
exchangeable for Capital Stock (other than Disqualified Stock) of the Company,

 

excluding, in
the case of clause (A) or (B):

 

(x) any such Debt issued or sold to the Company or a Subsidiary of the
Company or an employee stock ownership plan or trust established by the Company
or any such Subsidiary for the benefit of their employees, and

 

(y) the aggregate amount of any cash or other Property distributed by
the Company or any Restricted Subsidiary upon any such conversion or exchange,

 

plus

 

(4)  an amount equal to
the sum of:

 

(A) the net reduction after August 20, 2004 in Investments (other
than Permitted Investments) in any Person other than the Company or a
Restricted Subsidiary resulting from dividends, repayments of loans or advances
or other transfers of Property, proceeds realized on the sale of such
Investment and proceeds representing the return of the capital, in each case to
the Company or any Restricted Subsidiary from such Person, less the cost of the
disposition of such Investments, and

 

46

 

(B) the portion (proportionate to the Company’s equity interest in such
Unrestricted Subsidiary) of the Fair Market Value of the net assets of an
Unrestricted Subsidiary at the time such Unrestricted Subsidiary is designated
a Restricted Subsidiary;

 

provided, however, that the foregoing sum shall not exceed,
in the case of any Person, the amount of Investments (other than Permitted
Investments) previously made (and treated as a Restricted Payment) by the
Company or any Restricted Subsidiary in such Person.

 

Notwithstanding
the foregoing limitation, the Company may:

 

(a) 
pay dividends on its Capital Stock within 60 days of the
declaration thereof if, on said declaration date, such dividends could have
been paid in compliance with this Indenture; provided, however, that at the time of such payment of
such dividend, no other Default or Event of Default shall have occurred and be
continuing (or result therefrom); provided further, however, that
such dividend shall be included in the calculation of the amount of Restricted
Payments;

 

(b) 
make any Restricted Payment in exchange for, or out of the proceeds of
the substantially concurrent sale of, Capital Stock of the Company (other than
Disqualified Stock and other than Capital Stock issued or sold to a Subsidiary
of the Company or an employee stock ownership plan or trust established by the
Company or any such Subsidiary for the benefit of their employees) or
contributed in respect of such Capital Stock; provided, however, that

 

(1)  such Restricted Payment shall be
excluded in the calculation of the amount of Restricted Payments and

 

(2)  the Capital Stock Sale Proceeds from
such exchange or sale shall be excluded from the calculation pursuant to clause
(c)(2) above;

 

(c) 
purchase, repurchase, redeem, legally defease, acquire or retire for
value any Subordinated Obligations in exchange for, or out of the proceeds of
the substantially concurrent sale of, Permitted Refinancing Debt; provided, however, that such purchase, repurchase,
redemption, legal defeasance, acquisition or retirement shall be excluded in
the calculation of the amount of Restricted Payments;

 

(d) 
repurchase shares of, or options to purchase shares of, Capital Stock of
any Parent, the Company or any of the Company’s Subsidiaries (or pay dividends
to any Parent to consummate any such repurchases) from current or former
officers, directors or employees of the Company or any of its Subsidiaries (or
permitted transferees of such current or former officers,

 

47

 

directors or employees), pursuant to the terms of agreements (including
employment agreements) or plans (or amendments thereto) approved by the Parent
Board or the Board of Directors under which such individuals purchase or sell,
or are granted the option to purchase or sell, shares of such common stock; provided, however, that the aggregate amount of such
repurchases in any calendar year shall not exceed the lesser of (A) the
sum of (x) $500,000 and (y) the aggregate amount of Restricted
Payments permitted (but not made) in prior calendar years pursuant to this
clause (d) and (B) the sum of (i) $2,500,000 plus (ii) the
amount of net cash proceeds received by the Company after August 20, 2004
from any payment under “key-man” life insurance policies obtained by the
Company or a Restricted Subsidiary to insure the life of any director or
officer of the Company or a Restricted Subsidiary; and provided further,
however, that such repurchases shall be excluded in the calculation of
the amount of Restricted Payments;

 

(e) 
make repurchases of shares of common stock of the Company deemed to
occur upon the exercise of options to purchase shares of common stock of the
Company if such shares of common stock of the Company represent a portion of
the exercise price of such options; provided, however, that such
repurchases shall be excluded in the calculation of the amount of Restricted
Payments;

 

(f)    purchase,
defease or otherwise acquire or retire for value any Subordinated Obligations
upon a Change of Control of the Company or an Asset Sale by the Company, to the
extent required by any agreement pursuant to which such Subordinated
Obligations were issued, but only if the Company has complied with Section 4.06
and Section 4.13; provided,  however, that such payments shall be
included in the calculation of the amount of Restricted Payments;

 

(g) 
pay dividends or make other distributions to any Parent to be used by
such Parent:

 

(1)  to pay its franchise taxes and other
fees required to maintain its corporate existence;

 

(2)  to pay for general corporate and
overhead expenses (including salaries and other compensation of employees)
incurred by such Parent in the ordinary course of its business to the extent
such expenses are attributable to the ownership or operation of any other
Parent, the Company and the Restricted Subsidiaries; provided, however, that no such funds shall be used for
the payment of fees to Welsh, Carson, Anderson & Stowe, its Affiliates,
directors, officers or any other Person associated with Welsh, Carson Anderson
& Stowe; and

 

48

 

(3)  to pay fees and expenses other than to
Affiliates related to an unsuccessful equity or debt offering not prohibited by
this Indenture;

 

provided,
however, that such dividends shall be excluded in the calculation of the
amount of Restricted Payments;

 

(h) 
pay dividends or make distributions or advances to any Parent to be used
by such Parent to pay Federal, state and local taxes payable by such Parent and
directly attributable to (or arising as a result of) the operations of the
Company and the Restricted Subsidiaries; provided, however, that (A) the amount of such dividends shall not
exceed the amount that the Company and its Restricted Subsidiaries would be
required to pay in respect of such Federal, state or local taxes were the
Company to pay such taxes as a stand-alone taxpayer (including any interest or
penalties thereon) and (B) such dividends, distributions and advances
pursuant to this clause (h) are used by such Parent for such purposes
within 10 days of the receipt of such dividends; provided further, however,
that such dividends, distributions and advances shall be excluded in the
calculation of the amount of Restricted Payments;

 

(i) 
make any Restricted Payments described in the offering memorandum for
the Offered Securities dated March 15, 2005 under “Use of Proceeds”; provided,
however, that such Restricted Payments shall be excluded in the
calculation of the amount of Restricted Payments; and

 

(j) 
make Restricted Payments in an amount which, when taken together with
all Restricted Payments made pursuant to this clause (j), does not exceed
$30,000,000; provided, however, that
at the time of each such Restricted Payment, no Default or Event of Default
shall have occurred and be continuing (or result therefrom); provided
further, however, that such Restricted Payments shall be excluded in
the calculation of the amount of Restricted Payments.

 

SECTION 4.05. 
Limitation on Issuance or Sale of Capital Stock of
Restricted Subsidiaries.  The Company
shall not:

 

(a)  directly
or indirectly sell, pledge, hypothecate or otherwise dispose of any shares of
Capital Stock of a Restricted Subsidiary, or

 

(b) 
permit any Restricted Subsidiary to, directly or indirectly, issue or
sell or otherwise dispose of any shares of its Capital Stock,

 

other than, in
the case of either (a) or (b):

 

(1)  directors’ qualifying
shares,

 

(2)  to the Company or a
Wholly Owned Restricted Subsidiary, or

 

49

 

(3)  if, immediately after
giving effect to such disposition, such Restricted Subsidiary either
(i) remains a Restricted Subsidiary or (ii) would no longer
constitute a Restricted Subsidiary and any Investment in such Person remaining
after giving effect thereto is treated as a new Investment by the Company and
such Investment would constitute a Permitted Investment or would be permitted
to be made under Section 4.04 if made on the date of such disposition.

 

SECTION 4.06. 
Limitation on Asset Sales.  (a) 
The Company shall not, and shall not permit any Restricted Subsidiary
to, directly or indirectly, consummate any Asset Sale unless:

 

(i) 
the Company or such Restricted Subsidiary receives consideration at the
time of such Asset Sale at least equal to the Fair Market Value of the Property
subject to such Asset Sale; provided,
however, that with respect to PPM Asset Sales, the Company receives
consideration at the time of such PPM Asset Sale at least equal to the lesser
of (x) the Fair Market Value of such Property and (y) the net book
value of such Property excluding any write-downs or reductions in net book
value after June 30, 2004 other than as a result of normal course
depreciation and amortization or casualty or destruction or, if specified in
the applicable Management Services Agreement, the price at which the purchaser
of such Property is entitled to purchase such Property pursuant to such
Management Services Agreement; and

 

(ii) 
at least 75% of the consideration paid to the Company or such Restricted
Subsidiary in connection with such Asset Sale is in the form of cash or cash
equivalents.

 

For the
purposes of this covenant, the following are deemed to be cash or cash
equivalents:

 

(1)  the assumption of
Debt of the Company (other than obligations in respect of Disqualified Stock of
the Company) or any Restricted Subsidiary (other than obligations in respect of
Disqualified Stock or Preferred Stock of a Restricted Subsidiary) and the
release of the Company or such Restricted Subsidiary from all liability on such
Debt in connection with such Asset Sale;

 

(2)  securities received
by the Company or any Restricted Subsidiary from the transferee that are
converted by the Company or such Restricted Subsidiary into cash within 90
days, to the extent of cash received in that conversion; and

 

(3)  with respect to PPM
Asset Sales, (x) the principal amount of any Debt of the Company or US
Oncology canceled or retired as consideration to the Company, US Oncology or
any other Restricted Subsidiary in such PPM Asset Sale and (y) Capital
Stock of the Company at the time of such PPM Asset Sale in an aggregate amount
which, when taken together with any other such Debt or Capital Stock received
pursuant to this clause (3), does not exceed $10,000,000.

 

50

 

(b)  The Net Available Cash (or any portion
thereof) from Asset Sales may be applied by the Company or a Restricted
Subsidiary, to the extent the Company or such Restricted Subsidiary elects (or
is required by the terms of any Debt):

 

(i)  to
Repay Debt Incurred pursuant to clause (2) of paragraph (b) of Section
4.03 of any Restricted Subsidiary (excluding, in any such case, any Debt owed
to the Company or an Affiliate of the Company) provided that, if an
offer to purchase any Debt of US Oncology or any Restricted Subsidiary is made
in accordance with the terms of such Debt, the obligation to Repay such Debt
will be deemed satisfied to the extent of the amount of the offer, whether or
not accepted by the holders thereof, and the amount of Net Available Cash will
be reduced to the extent of the amount of the offer; or

 

(ii) 
to reinvest in Additional Assets (including by means of an Investment in
Additional Assets by a Restricted Subsidiary with Net Available Cash received
by the Company or another Restricted Subsidiary).

 

(c)  Any Net Available Cash from an Asset
Sale not applied in accordance with the preceding paragraph within (a) if
any Existing US Oncology Notes are outstanding, 60 days from the date the
last prepayment offer is required to be made pursuant to the “asset sale”
covenant in the applicable Existing US Oncology Notes Indenture or
(b) if no Existing US Oncology Notes are outstanding or such Existing US
Oncology Notes cease to contain an “asset sale” covenant, one year from the
date of the receipt of such Net Available Cash (or, if later, 90 days after the
execution of any agreement with respect to such application, which agreement is
signed within one year from the date of the receipt of such Net Available Cash)
shall constitute “Excess Proceeds”.

 

When the
aggregate amount of Excess Proceeds exceeds $20,000,000, the Company will be
required to make an offer to purchase (the “Prepayment Offer”) the Securities
which offer shall be in the amount of the Allocable Excess Proceeds, on a pro
rata basis according to principal amount, at a purchase price equal to 100% of
the principal amount thereof, plus accrued and unpaid interest, if any, to the
purchase date (subject to the right of holders of record on the relevant record
date to receive interest due on the relevant interest payment date), in
accordance with the procedures (including prorating in the event of
oversubscription) set forth in this Indenture. 
To the extent that any portion of the amount of Net Available Cash remains
after compliance with the preceding sentence and provided that all holders of
Securities have been given the opportunity to tender their Securities for
purchase in accordance with this Indenture, the Company or such Restricted
Subsidiary may use such remaining amount for any purpose permitted by this
Indenture and the amount of Excess Proceeds will be reset to zero.

 

The term “Allocable
Excess Proceeds” will mean the product of:

 

(a) 
the Excess Proceeds and

 

(b)  a
fraction,

 

51

 

(1)   the numerator of which is the aggregate
principal amount of the Securities Outstanding on the date of the Prepayment
Offer, plus accrued and unpaid interest, if any, to such date, and

 

(2)  the denominator of
which is the sum of (x) the aggregate principal amount of the Securities
outstanding on the date of the Prepayment Offer, plus accrued and unpaid
interest, if any, to such date and (y) the aggregate principal amount of
other Debt of the Company outstanding on the date of the Prepayment Offer, plus
accrued and unpaid interest, if any, to such date, that is pari  passu
in right of payment with the Securities and subject to terms and conditions in
respect of Asset Sales similar in all material respects to the covenant
described hereunder and requiring the Company to make an offer to purchase such
Debt at substantially the same time as the Prepayment Offer.

 

(d)           (1) Within five business days after the
Company is obligated to make a Prepayment Offer as described in the preceding
paragraph, the Company shall send a written notice, by first-class mail, to the
holders of Securities, accompanied by such information regarding the Company
and its Subsidiaries as the Company in good faith believes will enable such
holders to make an informed decision with respect to such Prepayment
Offer.  Such notice shall state, among
other things, the purchase price and the purchase date, which shall be, subject
to any contrary requirements of applicable law, a business day no earlier than
30 days nor later than 60 days from the date such notice is mailed.

 

(2)  Not later than the
date upon which written notice of a Prepayment Offer is delivered to the
Trustee as provided above, the Company shall deliver to the Trustee an Officers’
Certificate as to (i) the amount of the Prepayment Offer (the “Offer
Amount”), (ii) the allocation of the Net Available Cash from the Asset
Sales pursuant to which such Prepayment Offer is being made and (iii) the
compliance of such allocation with the provisions of Section 4.06(b).  On or before the Purchase Date, the Company
shall also irrevocably deposit with the Trustee or with the Paying Agent (or,
if the Company or a Wholly Owned Subsidiary is the Paying Agent, shall
segregate and hold in trust) in Temporary Cash Investments (other than in those
enumerated in clause (b) of the definition of Temporary Cash Investments),
maturing on the last day prior to the Purchase Date or on the Purchase Date if
funds are immediately available by open of business, an amount equal to the
Offer Amount to be held for payment in accordance with the provisions of this
Section.  Upon the expiration of the
period for which the Prepayment Offer remains open (the “Offer Period”), the
Company shall deliver to the Trustee for cancelation the Securities or portions
thereof that have been properly tendered to and are to be accepted by the
Company.  The Trustee or the Paying Agent
shall, on the Purchase Date, mail or deliver payment to each tendering Holder
in the amount of the purchase price.  In
the event that the aggregate purchase price of the Securities delivered by the
Company to the Trustee is less than the Offer Amount, the Trustee or the Paying
Agent shall deliver the excess to the Company immediately after the expiration
of the Offer Period for application in accordance with this Section.

 

52

 

(3)  Holders electing to
have a Security purchased shall be required to surrender the Security, with an
appropriate form duly completed, to the Company or its agent at the address
specified in the notice at least three Business Days prior to the Purchase
Date.  Holders shall be entitled to
withdraw their election if the Trustee or the Company receives not later than
one Business Day prior to the Purchase Date, a telegram, telex, facsimile
transmission or letter setting forth the name of the Holder, the principal
amount of the Security that was delivered for purchase by the Holder and a
statement that such Holder is withdrawing its election to have such Security
purchased.  If at the expiration of the
Offer Period the aggregate principal amount of Securities surrendered by
Holders exceeds the Offer Amount, the Company shall select the Securities to be
purchased on a pro rata basis for all Securities (with such adjustments as may
be deemed appropriate by the Company so that only Securities in denominations
of $1,000, or integral multiples thereof, shall be purchased).  Holders whose Securities are purchased only
in part shall be issued new Securities equal in principal amount to the
unpurchased portion of the Securities surrendered.

 

(4)  At the time the
Company delivers Securities to the Trustee that are to be accepted for
purchase, the Company shall also deliver an Officers’ Certificate stating that
such Securities are to be accepted by the Company pursuant to and in accordance
with the terms of this Section.  A
Security shall be deemed to have been accepted for purchase at the time the
Trustee or the Paying Agent mails or delivers payment therefor to the surrendering
Holder.

 

(e)  The Company will comply, to the extent
applicable, with the requirements of Section 14(e) of the Exchange Act and
any other securities laws or regulations in connection with the repurchase of
Securities pursuant to this Section 4.06. 
To the extent that the provisions of any securities laws or regulations
conflict with provisions of this Section 4.06, the Company will comply
with the applicable securities laws and regulations and will not be deemed to
have breached its obligations under this Section 4.06 by virtue thereof.

 

(f)  Notwithstanding the foregoing
provisions of this Section 4.06, if at the time the Company would be
required to make a Prepayment Offer, the Company does not have access to the
applicable Net Available Cash as a result of a restriction permitted by Section
4.07, then the Company shall have no obligation to make such Prepayment Offer
until such time as and to the extent such restriction no longer applies and, as
a result of such lapse of such restriction, there is at least $20.0 million in
Net Available Cash from all Asset Sales that has not been applied in accordance
with this Section 4.06 as a result of the application of this
Section 4.06(f).

 

SECTION 4.07. 
Limitation on Restrictions on Distributions from
Restricted Subsidiaries.  The Company
shall not, and shall not permit any Restricted Subsidiary to, directly or
indirectly, create or otherwise cause or suffer to exist any consensual
restriction on the right of any Restricted Subsidiary to:

 

53

 

(a) 
pay dividends, in cash or otherwise, or make any other distributions on
or in respect of its Capital Stock, or pay any Debt or other obligation owed,
to the Company or any other Restricted Subsidiary,

 

(b) 
make any loans or advances to the Company or any other Restricted
Subsidiary or

 

(c) 
transfer any of its Property to the Company or any other Restricted
Subsidiary.

 

The foregoing
limitations will not apply:

 

(1)  with respect to
clauses (a), (b) and (c), to restrictions:

 

(A)  in effect on the Issue Date, including
those set forth in the Credit Facilities and the Existing US Oncology
Indentures,

 

(B)  with respect to a Restricted
Subsidiary pursuant to an agreement relating to any Debt Incurred by such
Restricted Subsidiary on or prior to the date on which such Restricted
Subsidiary was acquired by the Company (other than Debt Incurred as
consideration in, or to provide all or any portion of the funds or credit
support utilized to consummate, the transaction or series of related
transactions pursuant to which such Restricted Subsidiary became a Restricted
Subsidiary or was acquired by the Company) and outstanding on such date,

 

(C)  that result from the Refinancing of
Debt Incurred pursuant to an agreement referred to in clause (1)(A) or (B)
above or in clause (2)(A) below or any amendment or supplement to any such
agreement; provided, however, that
such restriction is no more restrictive than those contained in the agreement
evidencing the Debt so Refinanced or the agreement being amended or
supplemented, as determined in good faith by the Board of Directors, whose
determination shall be conclusive,

 

(D)  imposed with respect to a Restricted
Subsidiary pursuant to an agreement entered into for the sale or disposition of
all or substantially all the Capital Stock or assets of such Restricted
Subsidiary pending the closing of such sale or disposition,

 

(E)  on cash or other deposits or net worth
imposed by customers under contracts entered into in the ordinary course of
business,

 

(F)  customary supermajority voting
provisions and provisions with respect to the disposition of assets or
property, in

 

54

 

each case,
contained in agreements relating to Permitted Joint Ventures that are
Restricted Subsidiaries,

 

(G)  arising under applicable law, or

 

(H)  contained in the terms of any Debt of
the Company or any Restricted Subsidiary (including the Credit Facilities) not
Incurred in violation of this Indenture; provided, however, that such restrictions, taken as a whole, (i) are no
more restrictive in the aggregate than those contained in the Credit Facilities
on the Issue Date or (ii) will not materially impair US Oncology’s ability
to make dividends to the Company in an amount sufficient to make scheduled
payments of cash interest on the Securities, in each case, as determined in
good faith by the Board of Directors whose determination shall be conclusive,
and

 

(2)  with respect to
clause (c) only, to restrictions:

 

(A)  encumbering Property at the time such
Property was acquired by the Company or any Restricted Subsidiary, so long as
such restriction relates solely to the Property so acquired and was not created
in connection with or in anticipation of such acquisition,

 

(B)  resulting from customary provisions
restricting subletting or assignment of leases or customary provisions in other
agreements that restrict assignment of such agreements or rights thereunder,

 

(C)  customary restrictions contained in
asset sale agreements limiting the transfer of such Property pending the
closing of such sale, or

 

(D)  on the transfer of assets subject to
any Lien imposed by the holder of such Lien.

 

SECTION 4.08. 
Limitation on Transactions with Affiliates.  The Company shall not, and shall not permit
any Restricted Subsidiary to, directly or indirectly, enter into or suffer to
exist any transaction or series of transactions (including the purchase, sale,
transfer, assignment, lease, conveyance or exchange of any Property or the
rendering of any service) with, or for the benefit of, any Affiliate of the
Company (an “Affiliate Transaction”), unless:

 

(a) 
the terms of such Affiliate Transaction are no less favorable to the
Company or such Restricted Subsidiary, as the case may be, than those that
could be obtained in a comparable arm’s-length transaction with a Person that
is not an Affiliate of the Company;

 

55

 

(b)  if
such Affiliate Transaction involves aggregate payments or value in excess of
$10,000,000, the Board of Directors (including a majority of the disinterested
members of the Board of Directors) approves such Affiliate Transaction and, in
its good faith judgment, believes that such Affiliate Transaction complies with
clause (a) of this paragraph as evidenced by a Board Resolution promptly
delivered to the Trustee; and

 

(c)  if
such Affiliate Transaction involves aggregate payments or value in excess of
$25,000,000, the Company obtains a written opinion from an Independent
Financial Advisor to the effect that the consideration to be paid or received
in connection with such Affiliate Transaction is fair, from a financial point
of view, to the Company and the Restricted Subsidiaries, taken as a whole or is
not less favorable to the Company and its Restricted Subsidiaries than could reasonably
be expected to be obtained at the time in an arm’s length transaction with a
Person who was not an Affiliate.  For
purposes of this clause (c) only, any contract or series of related contracts
for the rendering of services entered into in the ordinary course of business
by the Company or any Restricted Subsidiary with any other Person will not be
deemed to be in excess of $25,000,000 if, when entered into, (x) the
payments made by the Company and the Restricted Subsidiaries and (y) the
value of services performed by the Company and the Restricted Subsidiaries in
connection with such contract or series of related contracts do not exceed, and
are not then reasonably expected by the Board of Directors in its good faith
determination to exceed, $10,000,000 in any year.

 

Notwithstanding
the foregoing limitation, the Company or any Restricted Subsidiary may enter
into or suffer to exist the following:

 

(a) 
any transaction or series of transactions between the Company and one or
more Restricted Subsidiaries or between two or more Restricted Subsidiaries in
the ordinary course of business; provided,
however, that no more than 10% of the total voting power of the Voting
Stock (on a fully diluted basis) of any such Restricted Subsidiary is owned by
an Affiliate of the Company (other than a Restricted Subsidiary);

 

(b) 
any Restricted Payment permitted to be made pursuant to
Section 4.04 other than any Permitted Investment;

 

(c) 
the payment of reasonable fees to directors of the Company and its
Restricted Subsidiaries who are not employees of the Company or its Restricted
Subsidiaries, and compensation (including amounts paid pursuant to employee
benefit plans or arrangements) paid to, and indemnity provided for the benefit
of, officers, directors and employees of the Company or any of the Restricted
Subsidiaries, so long as the Board of Directors in good faith shall have
approved the terms thereof;

 

56

 

(d) 
(i) loans and advances to employees made in the ordinary course of
business of the Company or such Restricted Subsidiary, as the case may be; provided, however, that such loans and advances do not
exceed $3,000,000 in the aggregate at any one time outstanding; and (ii) loans
to affiliated physician groups made pursuant to clause (o) of the definition of
“Permitted Investments”;

 

(e) 
any transaction with a Restricted Subsidiary or joint venture or similar
entity which would constitute an Affiliate Transaction solely because the
Company or a Restricted Subsidiary owns an equity interest in or otherwise
controls such Restricted Subsidiary, joint venture or similar entity;

 

(f) 
the issuance or sale of any Capital Stock (other than Disqualified
Stock) of the Company;

 

(g) 
any agreement approved by the Board of Directors (including a majority
of the disinterested members of the Board of Directors) among Welsh, Carson,
Anderson & Stowe IX, L.P., its Affiliates and the Company or any Restricted
Subsidiary relating to (1) the payment of reasonable and customary fees by
the Company or any Restricted Subsidiary for any financial advisory, financing,
underwriting or placement services or in respect of other investment banking
activities rendered to the Company or any Restricted Subsidiary, and in any
event such fees shall not exceed 2.0% of the aggregate transaction value in
respect of which such services are rendered, or (2) the provision of
customary management services to the Company or any Restricted Subsidiary from
time to time;

 

(h) 
any transaction or agreement between the Company or one or more
Restricted Subsidiaries, on the one hand, and any affiliated physician or
affiliated physician group, on the other hand; provided, however, that any such transactions or
agreements are no less favorable in the aggregate to the Company and its
Subsidiaries than transactions or agreements in effect on the Issue Date;

 

(i) 
any transaction between the Company and an Unrestricted Subsidiary
relating to self insurance arrangements, in each case, on terms that are no
less favorable to the Company than those that would have been obtained in a
comparable arm’s length transaction by the Company with a Person that is not an
Affiliate of the Company; and

 

(j) 
any agreement as in effect on the Issue Date and described in the
offering memorandum for the Securities dated March 15, 2005 under “Certain
Relationships and Related Transactions” or any amendments, renewals or
extensions of any such agreement (so long as such amendments, renewals or
extensions are not less favorable to the Company or the Restricted
Subsidiaries) and the transactions evidenced thereby.

 

57

 

SECTION 4.09. 
Limitation on Liens.  (a) 
The Company shall not, and shall not permit any Restricted Subsidiary
to, directly or indirectly, Incur or suffer to exist, any Lien (the “Initial
Lien”), other than Permitted Liens, upon any of its Property (including Capital
Stock of a Restricted Subsidiary), whether owned at the Issue Date or
thereafter acquired, or any interest therein or any income or profits
therefrom, securing any Debt of the Company, unless it has made or will make
effective provision whereby the Securities will be secured by such Lien equally
and ratably with (or prior to) all other Debt of the Company secured by such Lien.

 

(b)  Any Lien created for the benefit of
the holders of the Securities pursuant to the preceding paragraph shall provide
by its terms that such Lien will be automatically and unconditionally released
and discharged upon release and discharge of the Initial Lien.

 

SECTION 4.10. 
Limitation on Sale and Leaseback Transactions.  The Company shall not, and shall not permit
any Restricted Subsidiary to, enter into any Sale and Leaseback Transaction
with respect to any Property unless:

 

(a)  the Company or such Restricted
Subsidiary would be entitled to:

 

(1)  Incur Debt in an amount equal to the
Attributable Debt with respect to such Sale and Leaseback Transaction pursuant
to Section 4.03, and

 

(2)  create a Lien on such Property
securing such Attributable Debt without also securing the Securities pursuant
to Section 4.09,

 

(b)  the net proceeds received by the
Company or any Restricted Subsidiary in connection with such Sale and Leaseback
Transaction are at least equal to the Fair Market Value of such Property, and

 

(c)  such Sale and Leaseback Transaction is
effected in compliance with Section 4.06.

 

SECTION 4.11. 
Designation of Restricted and Unrestricted
Subsidiaries.  The Board of Directors
may designate any Subsidiary of the Company to be an Unrestricted Subsidiary
if:

 

(a) 
the Subsidiary to be so designated does not own any Capital Stock or
Debt of, or own or hold any Lien on any Property of, the Company or any other
Restricted Subsidiary, and

 

(b) 
one of the following:

 

(1)  the Subsidiary to be
so designated has total assets of $1,000 or less,

 

(2)  if such Subsidiary
has total assets greater than $1,000, the Company would be permitted under
Section 4.04 to make a Restricted Payment or a

 

58

 

Permitted Investment in the amount equal to the Fair Market Value of
the Investment in such Subsidiary, or

 

(3)  such designation is
effective immediately upon such entity becoming a Subsidiary of the Company.

 

Unless so
designated as an Unrestricted Subsidiary, any Person that becomes a Subsidiary
of the Company will be classified as a Restricted Subsidiary; provided, however, that such Subsidiary shall not be
designated a Restricted Subsidiary and shall be automatically classified as an
Unrestricted Subsidiary if either of the requirements set forth in clauses (x)
and (y) of the second immediately following paragraph will not be satisfied
after giving pro forma effect to such classification or if such Person is a
Subsidiary of an Unrestricted Subsidiary.

 

Except as
provided in the first sentence of the preceding paragraph (including clauses
(a) and (b) thereof), no Restricted Subsidiary may be redesignated as an
Unrestricted Subsidiary.  In addition,
neither the Company nor any Restricted Subsidiary shall at any time be directly
or indirectly liable for any Debt that provides that the holder thereof may
(with the passage of time or notice or both) declare a default thereon or cause
the payment thereof to be accelerated or payable prior to its Stated Maturity
upon the occurrence of a default with respect to any Debt, Lien or other
obligation of any Unrestricted Subsidiary (including any right to take
enforcement action against such Unrestricted Subsidiary).  Upon designation of a Restricted Subsidiary
as an Unrestricted Subsidiary in compliance with this covenant, such Restricted
Subsidiary shall, by execution and delivery of a supplemental indenture in form
satisfactory to the Trustee, be released from any Guarantee of the Securities
previously made by such Restricted Subsidiary.

 

The Board of
Directors may designate any Unrestricted Subsidiary to be a Restricted
Subsidiary if, immediately after giving pro forma effect to such designation,

 

(x) the Company could Incur at least
$1.00 of additional Debt pursuant to paragraph (a) of Section 4.03, and

 

(y) no Default or Event of Default shall
have occurred and be continuing or would result therefrom.

 

Any such
designation or redesignation by the Board of Directors will be evidenced to the
Trustee by filing with the Trustee a Board Resolution giving effect to such
designation or redesignation and an Officers’ Certificate that:

 

(a) certifies that such designation or
redesignation complies with the foregoing provisions, and

 

(b) gives the effective date of such
designation or redesignation,

 

such filing
with the Trustee to occur within 45 days after the end of the fiscal quarter of
the Company in which such designation or redesignation is made (or, in the case
of a

 

59

 

designation or
redesignation made during the last fiscal quarter of the Company’s fiscal year,
within 90 days after the end of such fiscal year).

 

SECTION 4.12. 
Limitation on Company’s Business.  The Company shall not, and shall not permit
any Restricted Subsidiary, to, directly or indirectly, engage in any business
other than a Related Business.

 

SECTION 4.13. 
Change of Control. 
(a)    Upon the occurrence of a
Change of Control (unless the Company gives notice of redemption pursuant to
Section 3.01), each Holder of Securities shall have the right to require
the Company to repurchase all or any part of such Holder’s Securities pursuant
to the offer described below (the “Change of Control Offer”) at a purchase
price (the “Change of Control Purchase Price”) equal to 101% of the principal
amount thereof plus accrued and unpaid interest, if any, to the purchase date
(subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date).

 

(b)  Within 30 days following any Change of
Control, the Company shall (i) cause a notice of the Change of Control
Offer to be sent at least once to the Dow Jones News Service or similar
business news service in the United States and (ii) send, by first-class
mail, with a copy to the Trustee, to each Holder of Securities, at such Holder’s
address appearing in the Security Register, a notice stating:  (A) that a Change of Control Offer is
being made pursuant to this Section 4.13 and that all Securities timely
tendered will be accepted for payment; (B) the Change of Control Purchase
Price and the purchase date, which shall be, subject to any contrary
requirements of applicable law, a Business Day no earlier than 30 days nor
later than 60 days from the date such notice is mailed (the “Change of Control
Payment Date”); (C) the circumstances and relevant facts regarding the
Change of Control (including information with respect to pro forma historical
income, cash flow and capitalization after giving effect to the Change of
Control); and (D) the procedures that Holders of Securities must follow in
order to tender their Securities (or portions thereof) for payment, and the
procedures that Holders of Securities must follow in order to withdraw an
election to tender Securities (or portions thereof) for payment.

 

(c)  Holders electing to have a Security
purchased shall be required to surrender the Security, with an appropriate form
duly completed, to the Company or its agent at the address specified in the
notice at least three Business Days prior to the Change of Control Payment
Date.  Holders shall be entitled to
withdraw their election if the Trustee or the Company receives not later than
one Business Day prior to the Change of Control Payment Date, a telegram,
telex, facsimile transmission or letter setting forth the name of the Holder,
the principal amount of the Security that was delivered for purchase by the
Holder and a statement that such Holder is withdrawing its election to have
such Security purchased.

 

(d)  On or prior to the Change of Control
Payment Date, the Company shall irrevocably deposit with the Trustee or with
the Paying Agent (or, if the Company or any of its Wholly Owned Subsidiaries is
acting as the Paying Agent, segregate and hold in trust) in cash an amount
equal to the Change of Control Purchase Price payable to

 

60

 

the Holders entitled thereto, to be held for payment in accordance with
the provisions of this Section.  On the
Change of Control Payment Date, the Company shall deliver to the Trustee the
Securities or portions thereof that have been properly tendered to and are to
be accepted by the Company for payment. 
The Trustee or the Paying Agent shall, on the Change of Control Payment
Date, mail or deliver payment to each tendering Holder of the Change of Control
Purchase Price.  In the event that the
aggregate Change of Control Purchase Price is less than the amount delivered by
the Company to the Trustee or the Paying Agent, the Trustee or the Paying Agent,
as the case may be, shall deliver the excess to the Company immediately after
the Change of Control Payment Date.

 

(e)  The Company shall not be required to
make a Change of Control Offer following a Change of Control if a third party
makes the Change of Control Offer in the manner, at the times and otherwise in
compliance with the requirements set forth in this Section 4.13 applicable to a
Change of Control Offer made by the Company and purchases all Securities
validly tendered and not withdrawn under such Change of Control Offer.

 

(f)  The Company will comply, to the extent
applicable, with the requirements of Section 14(e) of the Exchange Act and
any other securities laws or regulations in connection with the purchase of
Securities pursuant to this Section 4.13. 
To the extent that the provisions of any securities laws or regulations
conflict with the provisions of this Section 4.13, the Company will comply
with the applicable securities laws and regulations and will not be deemed to
have breached its obligations under this Section 4.13 by virtue
thereof.

 

SECTION 4.14. 
Future Subsidiary Guarantors.  The Company shall cause each Restricted
Subsidiary that Guarantees any other Debt of the Company to, at the same time,
execute and deliver to the Trustee a Guarantee of the Securities, which
Guarantee of the Securities shall be maintained for so long as the Guarantee of
such other Debt of the Company is in effect.

 

SECTION 4.15. 
Further Instruments and Acts.  Upon request of the Trustee, the Company shall
execute and deliver such further instruments and do such further acts as may be
reasonably necessary or proper to carry out more effectively the purpose of
this Indenture.

 

ARTICLE V

Successor Company

 

SECTION 5.01. 
When Company May Merge or Transfer Assets.  

 

The Company
shall not merge, consolidate or amalgamate with or into any other Person or
sell, transfer, assign, lease, convey or otherwise dispose of all or
substantially all its Property in any one transaction or series of transactions
unless:

 

(a) 
the Company shall be the surviving Person (the “Surviving Person”) or
the Surviving Person (if other than the Company) formed by such

 

61

 

merger, consolidation or amalgamation or to which such sale, transfer,
assignment, lease, conveyance or disposition is made shall be a corporation
organized and existing under the laws of the United States of America, any
State thereof or the District of Columbia;

 

(b) 
the Surviving Person (if other than the Company) expressly assumes, by
supplemental indenture in form satisfactory to the Trustee, executed and
delivered to the Trustee by such Surviving Person, the due and punctual payment
of the principal of, and premium, if any, and interest on, all the Securities, according
to their tenor, and the due and punctual performance and observance of all the
covenants and conditions of this Indenture to be performed by the Company;

 

(c) 
immediately before and after giving effect to such transaction or series
of transactions on a pro forma basis (and treating, for purposes of this clause
(c) and clause (d) below, any Debt that becomes, or is anticipated to become,
an obligation of the Surviving Person or any Restricted Subsidiary as a result
of such transaction or series of transactions as having been Incurred by the
Surviving Person or such Restricted Subsidiary at the time of such transaction
or series of transactions), no Default or Event of Default shall have occurred
and be continuing;

 

(d) 
immediately after giving pro forma effect to such transaction or series
of transactions, the Company or the Surviving Person, as the case may be, would
be able to Incur at least $1.00 of additional Debt under paragraph (a) of
Section 4.03; provided, however,
that this clause (d) will not be applicable to (A) the Company or a
Restricted Subsidiary consolidating with, merging into, conveying, transferring
or leasing all or substantially all its Property to the Company or a Subsidiary
Guarantor or (B) the Company or a Restricted Subsidiary merging with an
Affiliate of the Company solely for the purpose and with the sole effect of
reincorporating the Company or a Restricted Subsidiary in another jurisdiction;
and

 

(e) 
the Company shall deliver, or cause to be delivered, to the Trustee, in
form and substance reasonably satisfactory to the Trustee, an Officers’
Certificate and an Opinion of Counsel, each stating that such transaction and
the supplemental indenture, if any, in respect thereto comply with this
Section 5.01 and that all conditions precedent herein provided for
relating to such transaction have been satisfied.

 

For the
purposes of this Section 5.01, the sale, transfer, assignment, lease,
conveyance or other disposition of all the Property of one or more Subsidiaries
of the Company, which Property, if held by the Company instead of such
Subsidiaries, would constitute all or substantially all the Property of the
Company on a consolidated basis, shall be deemed to be the transfer of all or
substantially all the Property of the Company.

 

62

 

SECTION 5.02. 
Surviving Person. 
The Surviving Person shall succeed to, and be substituted for, and may
exercise every right and power of the Company under this Indenture, and the
predecessor Company, except in the case of a lease, shall be released from any
obligation to pay the principal of, premium, if any, and interest on, the
Securities.

 

ARTICLE VI

Defaults and Remedies

 

SECTION 6.01. 
Events of Default. 
The following events shall be “Events of Default”:

 

(1)  the Company defaults
in any payment of interest on any Security when the same becomes due and
payable, and such default continues for a period of 30 days;

 

(2)  the Company defaults
in the payment of the principal of or premium, if any, on, any Security when
the same becomes due and payable at its Stated Maturity, upon acceleration,
redemption, optional redemption, required repurchase or otherwise;

 

(3)  the Company or any
Subsidiary Guarantor fails to comply with Article V;

 

(4)  the Company fails to
comply with any covenant or agreement in the Securities or in this Indenture
(other than a failure that is the subject of the foregoing clause (1), (2) or
(3)) and such failure continues for 30 days after written notice is given to
the Company as specified below;

 

(5)  a default by the
Company or any Restricted Subsidiary under any Debt of the Company or any
Restricted Subsidiary which results in acceleration of the maturity of such
Debt, or the failure to pay any such Debt at maturity, in an aggregate amount
in excess of $20,000,000 or its foreign currency equivalent at the time;

 

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

 

(A)  commences a voluntary case;

 

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

 

(C)  consents to the appointment of a
Custodian of it or for any substantial part of its property; or

 

63

 

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

 

or takes any
comparable action under any foreign laws relating to insolvency;

 

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

 

(A)  is for relief against the Company or
any Significant Subsidiary in an involuntary case;

 

(B)  appoints a Custodian of the Company or
any Significant Subsidiary or for any substantial part of its property; or

 

(C)  orders the winding up or liquidation
of the Company or any Significant Subsidiary; or

 

(D)  grants any similar relief under any
foreign laws;

 

and in each such case the order or decree remains unstayed and in
effect for 30 days; or

 

(8)  any judgment or
judgments for the payment of money in an aggregate amount in excess of
$20,000,000 (or its foreign currency equivalent at the time) net of any amount
covered by insurance issued by a reputable and creditworthy insurer that has
not contested coverage or reserved rights with respect to the underlying claim,
that shall be rendered against the Company or any Restricted Subsidiary and
that shall not be waived, satisfied or discharged for any period of 60
consecutive days during which a stay of enforcement shall not be in effect.

 

The foregoing
will constitute Events of Default whatever the reason for any such Event of
Default and whether it is voluntary or involuntary or is 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.

 

The term “Bankruptcy
Law” means Title 11, United States Code, or any similar Federal or state
law for the relief of debtors.  The term “Custodian”
means any receiver, trustee, assignee, liquidator, custodian or similar
official under any Bankruptcy Law.

 

A Default
under clause (4) is not an Event of Default until the Trustee or the Holders of
at least 25% in aggregate principal amount of the Securities then outstanding
notify the Company (and in the case of such notice by Holders, the Trustee) of
the Default and the Company does not cure such Default within the time
specified after receipt of such notice. 
Such notice must specify the Default, demand that it be remedied and
state that such notice is a “Notice of Default”.

 

64

 

The Company
shall deliver to the Trustee, within 30 days after the occurrence thereof,
written notice in the form of an Officers’ Certificate of any Event of Default
and any event that with the giving of notice or the lapse of time would become
an Event of Default, its status and what action the Company is taking or
proposes to take with respect thereto.

 

SECTION 6.02. 
Acceleration. 
If an Event of Default (other than an Event of Default specified in
Section 6.01(6) or (7) with respect to the Company) occurs and is
continuing, the Trustee by notice to the Company, or the Holders of at least
25% in aggregate principal amount of the Securities then outstanding by notice
to the Company and the Trustee, may declare the principal of and accrued and
unpaid interest on all the Securities to be due and payable.  Upon such a declaration, such principal and
interest shall be due and payable immediately. 
If an Event of Default specified in Section 6.01(6) or (7) with
respect to the Company occurs, the principal of and accrued and unpaid interest
on all the Securities shall, automatically and without any action by the
Trustee or any Holder, become and be immediately due and payable.  The Holders of a majority in aggregate
principal amount of the outstanding Securities by notice to the Trustee and the
Company may rescind any declaration of acceleration if the rescission would not
conflict with any judgment or decree and if all existing Events of Default have
been cured or waived except nonpayment of principal or interest that has become
due solely because of the acceleration. 
No such rescission shall affect any subsequent Default or impair any
right consequent thereto.

 

SECTION 6.03. 
Other Remedies. 
If an Event of Default occurs and is continuing, the Trustee may pursue
any available remedy to collect the payment of principal of or interest on the
Securities or to enforce the performance of any provision of the Securities or
this Indenture.

 

The Trustee
may maintain a proceeding even if it does not possess any of the Securities or
does not produce any of them in the proceeding. 
A delay or omission by the Trustee or any Securityholder in exercising
any right or remedy accruing upon an Event of Default shall not impair the
right or remedy or constitute a waiver of or acquiescence in the Event of
Default.  No remedy is exclusive of any
other remedy.  All available remedies are
cumulative.

 

SECTION 6.04. 
Waiver of Past Defaults.  The Holders of a majority in aggregate
principal amount of the Securities then outstanding by notice to the Trustee
may waive an existing Default and its consequences except (i) a Default in
the payment of the principal of or interest on a Security or (ii) a
Default in respect of a provision that under Section 9.02 cannot be
amended without the consent of each Securityholder affected.  When a Default is waived, it is deemed cured,
but no such waiver shall extend to any subsequent or other Default or impair
any consequent right.

 

SECTION 6.05. 
Control by Majority.  The Holders of a majority in aggregate principal
amount of the Securities then outstanding may direct the time, method and place
of conducting any proceeding for any remedy available to the Trustee or of
exercising any trust or power conferred on the Trustee with respect to the
Securities.

 

65

 

However, the Trustee may refuse to follow any direction that conflicts
with law or this Indenture or, subject to Section 7.01, that the Trustee
determines is unduly prejudicial to the rights of other Securityholders or
would involve the Trustee in personal liability; provided, however, that the Trustee may take any other
action deemed proper by the Trustee that is not inconsistent with such
direction.  Prior to taking any action
hereunder, the Trustee shall be entitled to reasonable indemnification against
all losses and expenses caused by taking or not taking such action.

 

SECTION 6.06. 
Limitation on Suits.  A Securityholder may not pursue any remedy
with respect to this Indenture or the Securities unless:

 

(1)  such Holder shall
have previously given to the Trustee written notice of a continuing Event of
Default;

 

(2)  the Holders of at
least 25% in aggregate principal amount of the Securities then outstanding
shall have made a written request, and such Holder of or Holders shall have
offered reasonable indemnity, to the Trustee to pursue such proceeding as
trustee; and

 

(3)  the Trustee has not
received from the Holders of at least a majority in aggregate principal amount
of the Securities outstanding a direction inconsistent with such request and
has failed to institute such proceeding within 60 days after such notice,
request and offer.

 

The foregoing
limitations on the pursuit of remedies by a Securityholder shall not apply to a
suit instituted by a Holder for the enforcement of payment of the principal of,
and premium, if any, or interest on, such Security on or after the applicable
due date specified in such Security. A Securityholder may not use this
Indenture to prejudice the rights of another Securityholder or to obtain a
preference or priority over another Securityholder.

 

SECTION 6.07. 
Rights of Holders to Receive Payment.  Notwithstanding any other provision of this
Indenture, the right of any Holder to receive payment of principal of and
interest on the Securities held by such Holder, on or after the respective due
dates expressed in the Securities, or to bring suit for the enforcement of any
such payment on or after such respective dates, shall not be impaired or
affected without the consent of such Holder.

 

SECTION 6.08. 
Collection Suit by Trustee.  If an Event of Default specified in
Section 6.01(1) or (2) occurs and is continuing, the Trustee may
recover judgment in its own name and as trustee of an express trust against the
Company for the whole amount then due and owing (together with interest on any
unpaid interest to the extent lawful) and the amounts provided for in
Section 7.07.

 

SECTION 6.09. 
Trustee May File Proofs of Claim.  The Trustee may file such proofs of claim and
other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee and the Securityholders allowed in any judicial
proceedings relative to the Company, its creditors or its property and, unless
prohibited

 

66

 

by law or applicable regulations, may vote on behalf of the Holders in
any election of a trustee in bankruptcy or other Person performing similar
functions, and any Custodian in any such judicial proceeding is hereby
authorized by each Holder to make payments to the Trustee and, in the event
that the Trustee shall consent to the making of such payments directly to the
Holders, to pay to the Trustee any amount due it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and its counsel, and any other amounts due the Trustee under Section 7.07.

 

SECTION 6.10. 
Priorities. 
If the Trustee collects any money or property pursuant to this Article
VI, it shall pay out the money or property in the following order:

 

FIRST: 
to the Trustee for amounts due under Section 7.07;

 

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

 

THIRD: 
to the Company.

 

The Trustee
may fix a record date and payment date for any payment to Securityholders
pursuant to this Section.  At least 15
days before such record date, the Company shall mail to each Securityholder and
the Trustee a notice that states the record date, the payment date and amount
to be paid.

 

SECTION 6.11. 
Undertaking for Costs.  In any suit for the enforcement of any right
or remedy under this Indenture or in any suit against the Trustee for any
action taken or omitted by it as Trustee, a court in its discretion may require
the filing by any party litigant in the suit of an undertaking to pay the costs
of the suit, and the court in its discretion may assess reasonable costs,
including reasonable attorneys’ fees, against any party litigant in the suit,
having due regard to the merits and good faith of the claims or defenses made
by the party litigant.  This
Section does not apply to a suit by the Trustee, a suit by a Holder
pursuant to Section 6.07 or a suit by Holders of more than 10% in
aggregate principal amount of the Securities.

 

SECTION 6.12. 
Waiver of Stay or Extension Laws.  The Company (to the extent it may lawfully do
so) shall not at any time insist upon, or plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay or extension law wherever
enacted, now or at any time hereafter in force, that may affect the covenants
or the performance of this Indenture; and the Company (to the extent that it
may lawfully do so) hereby expressly waives all benefit or advantage of any
such law, and shall not hinder, delay or impede the execution of any power
herein granted to the Trustee, but shall suffer and permit the execution of every
such power as though no such law had been enacted.

 

67

 

ARTICLE VII

 

Trustee

 

SECTION 7.01. 
Duties of Trustee. 
(a)    If an Event of Default has
occurred and is continuing, the Trustee shall exercise the rights and powers
vested in it by this Indenture and use the same degree of care and skill in
their exercise as a prudent Person would exercise or use under the
circumstances in the conduct of such Person’s own affairs.

 

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

 

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

 

(2)  in the absence of bad
faith on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture.  However,
the Trustee shall examine the certificates and opinions to determine whether or
not they conform to the requirements of this Indenture.

 

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

 

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

 

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

 

(3)  the Trustee shall not
be liable with respect to any action it takes or omits to take in good faith in
accordance with a direction received by it pursuant to Section 6.05.

 

(d)  Every provision of this Indenture that
in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of
this Section.

 

(e)  The Trustee shall not be liable for
interest on any money received by it except as the Trustee may agree in writing
with the Company.

 

(f)  Money held in trust by the Trustee
need not be segregated from other funds except to the extent required by law.

 

(g)  No provision of this Indenture shall
require the Trustee to expend or risk its own funds or otherwise incur financial
liability in the performance of any of its

 

68

 

duties hereunder or in the exercise of any of its rights or powers if
it shall have reasonable grounds to believe that repayment of such funds or
adequate indemnity against such risk or liability is not reasonably assured to
it.

 

(h)  Every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection
to the Trustee shall be subject to the provisions of this Section and to
the provisions of the TIA and the provisions of this Article VII shall apply to
the Trustee in its role as Registrar, Paying Agent and Security Custodian.

 

(i)  The Trustee shall not be deemed to
have notice of a Default or an Event of Default unless (a) the Trustee has
received written notice thereof from the Company or any Holder or (b) a
Trust Officer shall have actual knowledge thereof.

 

SECTION 7.02. 
Rights of Trustee. 
(a)    The Trustee may rely on any
document believed by it to be genuine and to have been signed or presented by
the proper person.  The Trustee need not
investigate any fact or matter stated in the document.

 

(b)  Before the Trustee acts or refrains
from acting, it may require an Officers’ Certificate or an Opinion of Counsel.  The Trustee shall not be liable for any
action it takes or omits to take in good faith in reliance on the Officers’
Certificate or Opinion of Counsel.

 

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

 

(d)  The Trustee shall not be liable for
any action it takes or omits to take in good faith that it believes to be
authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute wilful
misconduct or negligence.

 

(e)  The Trustee may consult with counsel,
and the advice or opinion of counsel with respect to legal matters relating to
this Indenture and the Securities shall be full and complete authorization and
protection from liability in respect to any action taken, omitted or suffered
by it hereunder in good faith and in accordance with the advice or opinion of
such counsel.

 

(f)  The permissive rights of the Trustee
to do things enumerated in this Indenture shall not be construed as a duty
unless so specified herein.

 

(g)  Delivery of reports, information and
documents to the Trustee under Section 4.02 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
their covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates).

 

SECTION 7.03. 
Individual Rights of Trustee.  The Trustee in its individual or any other
capacity may become the owner or pledgee of Securities and may otherwise deal
with the Company or its Affiliates with the same rights it would have if it

 

69

 

were not Trustee.  Any Paying
Agent or Registrar may do the same with like rights.  However, the Trustee must comply with
Sections 7.10 and 7.11.

 

SECTION 7.04. 
Trustee’s Disclaimer.  The Trustee shall not be responsible for and
makes no representation as to the validity, priority or adequacy of this
Indenture or the Securities, except as contained in the Trustee’s certificate
of authentication. The Trustee shall not be accountable for the Company’s use
of the proceeds from the issuance and sale of the Securities, and it shall not
be responsible for any statement of the Company, any initial purchaser or
placement agent, any Subsidiary Guarantor or any other Person in this Indenture
or in any document issued in connection with the issuance and sale of the
Securities or in the Securities whether oral or written.

 

SECTION 7.05. 
Notice of Defaults.   If a Default or Event of Default occurs and
is continuing and if it is known to the Trustee, the Trustee shall mail to each
Securityholder notice of the Default or Event of Default within 90 days after
it is known to a Trust Officer or written notice of it is received by the
Trustee.  Except in the case of a Default
or Event of Default in payment of principal of or interest on any Security, the
Trustee may withhold the notice if and so long as a committee of its Trust
Officers in good faith determines that withholding the notice is in the
interests of Securityholders.

 

SECTION 7.06. 
Reports by Trustee to Holders.  As promptly as practicable after each
February 15 beginning with February 15, 2005, and in any event prior
to March 31 in each year, the Trustee shall mail to each Securityholder a brief
report dated as of February 15, 2005 each year that complies with TIA §
313(a), if and to the extent required by such subsection.  The Trustee shall also comply with TIA §
313(b). The Trustee will comply with TIA § 313(c).

 

A copy of each
report at the time of its mailing to Securityholders shall be filed with the
SEC and each stock exchange (if any) on which the Securities are listed.  The Company agrees to notify promptly the
Trustee whenever the Securities become listed on any stock exchange and of any
delisting thereof.

 

SECTION 7.07. 
Compensation and Indemnity.  The Company shall pay to the Trustee from
time to time reasonable compensation as agreed to between the Company and the
Trustee for its services.  The Trustee’s
compensation shall not be limited by any law on compensation of a trustee of an
express trust.  The Company shall reimburse
the Trustee upon request for all reasonable out-of-pocket expenses incurred or
made by it, including costs of collection, in addition to the compensation for
its services.  Such expenses shall
include the reasonable compensation and expenses, disbursements and advances of
the Trustee’s agents, counsel, accountants and experts.  The Company and each Subsidiary Guarantor,
jointly and severally, shall indemnify the Trustee against any and all loss,
liability or expense (including reasonable attorneys’ fees) incurred by it in
connection with the acceptance and administration of this trust and the
performance of its duties hereunder.  The
Trustee shall notify the Company promptly of any claim for which it may seek
indemnity. Failure by the Trustee to so notify the Company shall not relieve
the Company or any Subsidiary Guarantor of its obligations hereunder.  The Company shall defend the claim and the
Trustee may have separate counsel and the 

 

70

 

Company and the Subsidiary Guarantors, as
applicable, shall pay the reasonable fees and expenses of such counsel,
provided, however, that the Company shall not be required to pay such fees and
expenses if it assumes the Trustee’s defense, and, in the Trustee’s reasonable
judgment, there is no conflict of interest between the Company and the Trustee
in connection with such defense.  The
Company need not reimburse any expense or indemnify against any loss, liability
or expense incurred by the Trustee through the Trustee’s own wilful misconduct,
negligence or bad faith.  The Company
need not pay for any settlement made by the Trustee without the Company’s
consent, such consent not to be unreasonably withheld.  All indemnifications and releases from
liability granted hereunder to the Trustee shall extend to its officers,
directors, employees, agents, successors and assigns.

 

To secure the
Company’s payment obligations in this Section, the Trustee shall have a lien
prior to the Securities on all money or property held or collected by the
Trustee other than money or property held in trust to pay principal of and
interest on particular Securities.

 

The Company’s
payment obligations pursuant to this Section shall survive the resignation
or removal of the Trustee and the discharge of this Indenture.  When the Trustee incurs expenses after the
occurrence of a Default specified in Section 6.01(6) or (7) with respect
to the Company, the expenses are intended to constitute expenses of administration
under the Bankruptcy Law.

 

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

 

SECTION 7.08. 
Replacement of Trustee.  The Trustee may resign at any time by so
notifying the Company.  The Holders of a
majority in aggregate principal amount of the Securities then outstanding may
remove the Trustee by so notifying the Trustee and may appoint a successor
Trustee.  The Company shall remove the
Trustee if:

 

(i)  the Trustee fails to comply
with Section 7.10;

 

(ii)  the Trustee is adjudged
bankrupt or insolvent or an order for relief is entered with respect to any
Bankruptcy Law;

 

(iii)  a receiver or other public
officer takes charge of the Trustee or its property; or

 

(iv)  the Trustee otherwise
becomes incapable of acting.

 

If the Trustee
resigns, is removed by the Company or by the Holders of a majority in aggregate
principal amount of the Securities then outstanding and such Holders do not
reasonably promptly appoint a successor Trustee, or if a vacancy exists in the
office of Trustee for any reason (the Trustee in such event being referred to
herein as the retiring Trustee), the Company shall promptly appoint a successor
Trustee.

 

71

 

A successor
Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company.  Thereupon
the resignation or removal of the retiring Trustee shall become effective, and
the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture.  The
successor Trustee shall mail a notice of its succession to
Securityholders.  The retiring Trustee
shall promptly transfer all property held by it as Trustee to the successor
Trustee, subject to the lien provided for in Section 7.07.

 

If a successor
Trustee does not take office within 60 days after the retiring Trustee resigns
or is removed, the retiring Trustee or the Holders of 10% in aggregate
principal amount of the Securities then outstanding may petition any court of
competent jurisdiction for the appointment of a successor Trustee.

 

If the Trustee
fails to comply with Section 7.10, any Securityholder who has been a bona
fide Holder of a Security for at least six months may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a
successor Trustee.

 

Notwithstanding
the replacement of the Trustee pursuant to this Section, the Company’s
obligations under Section 7.07 shall continue for the benefit of the
retiring Trustee.

 

SECTION 7.09. 
Successor Trustee by Merger.  If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all its corporate trust
business or assets to, another corporation or banking association, the
resulting, surviving or transferee corporation or banking association without any
further act shall be the successor Trustee.

 

In case at the
time such successor or successors by merger, conversion or consolidation to the
Trustee shall succeed to the trusts created by this Indenture any of the
Securities shall have been authenticated but not delivered, any such successor
to the Trustee may adopt the certificate of authentication of any predecessor
trustee, and deliver such Securities so authenticated; and in case at that time
any of the Securities shall not have been authenticated, any such successor to
the Trustee may authenticate such Securities either in the name of any
predecessor hereunder or in the name of the successor to the Trustee; and in
all such cases such certificates shall have the full force which it is anywhere
in the Securities or in this Indenture provided that the certificate of the
Trustee shall have.

 

SECTION 7.10. 
Eligibility; Disqualification.  The Trustee shall at all times satisfy the
requirements of TIA § 310(a).  The
Trustee shall have (or, in the case of a corporation included in a bank holding
company system, the related bank holding company shall have) a combined capital
and surplus of at least $50,000,000 as set forth in its (or its related bank
holding company’s) most recent published annual report of condition.  The Trustee shall comply with TIA § 310(b),
subject to the penultimate paragraph thereof; provided, however, that there shall be excluded from
the operation of TIA § 310(b)(1) any indenture or indentures under which other
securities or certificates

 

72

 

of interest or participation in
other securities of the Company are outstanding if the requirements for such
exclusion set forth in TIA § 310(b)(1) are met.

 

SECTION 7.11.  Preferential Collection of
Claims Against Company.  The Trustee
shall comply with TIA § 311(a), excluding any creditor relationship listed
in TIA § 311(b).  A Trustee who has
resigned or been removed shall be subject to TIA § 311(a) to the extent
indicated.

 

ARTICLE VIII

 

Discharge of
Indenture; Defeasance

 

SECTION 8.01.  Discharge of Liability on
Securities; Defeasance.  (a)  When (i) the Company delivers to the
Trustee all outstanding Securities (other than Securities replaced pursuant to Section 2.07)
for cancelation or (ii) all outstanding Securities have become due and
payable, whether at maturity or as a result of the mailing of a notice of
redemption pursuant to Article III and the Company irrevocably deposits
with the Trustee funds sufficient to pay at maturity or upon redemption all
outstanding Securities, including interest thereon to maturity or such
redemption date (other than Securities replaced pursuant to Section 2.07),
and if in either case the Company pays all other sums payable hereunder by the
Company, then this Indenture shall, subject to Section 8.01(c), cease to
be of further effect.  The Trustee shall
acknowledge satisfaction and discharge of this Indenture on demand of the
Company accompanied by an Officers’ Certificate and an Opinion of Counsel and
at the cost and expense of the Company.

 

(b)  Subject to Sections 8.01(c) and 8.02,
the Company at any time may terminate (i) all of its obligations under the
Securities and this Indenture (“legal defeasance option”) or (ii) its
obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.10,
4.11, 4.12, 4.13 and 4.14 and the operation of Sections 6.01(5), 6.01(6),
6.01(7) and 6.01(8) (but, in the case of Sections 6.01(6) and (7), with respect
only to Significant Subsidiaries) and the limitations contained in clause (d)
of Section 5.01 (“covenant defeasance option”).  The Company may exercise its legal defeasance
option notwithstanding its prior exercise of its covenant defeasance option.

 

If the Company
exercises its legal defeasance option, payment of the Securities may not be
accelerated because of an Event of Default with respect thereto.  If the Company exercises its covenant
defeasance option, payment of the Securities may not be accelerated because of
an Event of Default specified in Sections 6.01(4) (with respect to the
covenants of Article IV identified in the immediately preceding
paragraph), 6.01(5), 6.01(6), 6.01(7) and 6.01(8) (but, in the case of Sections
6.01(6) and 6.01(7), with respect only to Significant Subsidiaries) or because
of the failure of the Company to comply with the limitations contained in
clause (d) of Section 5.01.  If the
Company exercises its legal defeasance option or its covenant defeasance
option, any Guarantee of the Securities by a Restricted Subsidiary shall be
released from all its obligations under such Guarantee.

 

73

 

Upon
satisfaction of the conditions set forth herein and upon request of the Company,
the Trustee shall acknowledge in writing the discharge of those obligations
that the Company terminates.

 

(c)  Notwithstanding clauses (a) and (b)
above, the Company’s obligations in Sections 2.04, 2.05, 2.06, 2.07, 7.07,
7.08, 8.05 and 8.06 shall survive until the Securities have been paid in
full.  Thereafter, the Company’s
obligations in Sections 7.07 and 8.05 shall survive.

 

SECTION 8.02.  Conditions to Defeasance.  The Company may exercise its legal defeasance
option or its covenant defeasance option only if:

 

(1)  the
Company irrevocably deposits in trust with the Trustee money or U.S. Government
Obligations or a combination thereof for the payment of principal of and
interest on the Securities to maturity or redemption, as the case may be;

 

(2)  the
Company delivers to the Trustee a certificate from a nationally recognized firm
of independent certified public accountants expressing their opinion that the
payments of principal and interest when due and without reinvestment on the
deposited U.S. Government Obligations plus any deposited money without
investment will provide cash at such times and in such amounts as will be
sufficient to pay principal and interest when due on all the Securities to
maturity or redemption, as the case may be;

 

(3)  123
days pass after the deposit is made and during the 123-day period no Default
specified in Section 6.01(6) or (7) with respect to the Company occurs
that is continuing at the end of the period;

 

(4)  the
deposit does not constitute a default under any other agreement or instrument binding
on the Company;

 

(5)  the
Company delivers to the Trustee an Opinion of Counsel to the effect that the
trust resulting from the deposit does not constitute, or is qualified as, a
regulated investment company under the Investment Company Act of 1940;

 

(6)  in
the case of the legal defeasance option, the Company delivers to the Trustee an
Opinion of Counsel stating that (i) the Company has received from, or
there has been published by, the Internal Revenue Service a ruling, or (ii) since
the date of this Indenture there has been a change in the applicable U.S. Federal
income tax law, in either case to the effect that, and based thereon such
Opinion of Counsel shall confirm that, the Securityholders will not recognize
income, gain or loss for U.S. Federal income tax purposes as a result of such
defeasance and will be subject to U.S. Federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such
defeasance had not occurred;

 

74

 

(7)  in
the case of the covenant defeasance option, the Company delivers to the Trustee
an Opinion of Counsel to the effect that the Securityholders will not recognize
income, gain or loss for U.S. Federal income tax purposes as a result of such
covenant defeasance and will be subject to U.S. Federal income tax on the same
amounts, in the same manner and at the same times as would have been the case
if such covenant defeasance had not occurred;

 

(8)  the
Company delivers to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent to the defeasance and
discharge of the Securities as contemplated by this Article VIII have been
complied with; and

 

(9)  no
Default or Event of Default has occurred and is continuing on the date of such
deposit and after giving effect thereto.

 

Before or after
a deposit, the Company may make arrangements satisfactory to the Trustee for
the redemption of Securities at a future date in accordance with Article III.

 

SECTION 8.03.  Application of Trust Money.  The Trustee shall hold in trust money or U.S.
Government Obligations deposited with it pursuant to this Article VIII.  It shall apply the deposited money and the
money from U.S. Government Obligations through the Paying Agent and in
accordance with this Indenture to the payment of principal of and interest on
the Securities.

 

SECTION 8.04.  Repayment to Company.  The Trustee and the Paying Agent shall
promptly turn over to the Company upon request any excess money or securities
held by them at any time.

 

Subject to any
applicable abandoned property law, the Trustee and the Paying Agent shall pay
to the Company upon request any money held by them for the payment of principal
or interest that remains unclaimed for two years, and, thereafter,
Securityholders entitled to the money must look to the Company for payment as
general creditors.

 

SECTION 8.05.  Indemnity for Government
Obligations.  The Company shall pay and
shall indemnify the Trustee against any tax, fee or other charge imposed on or
assessed against deposited U.S. Government Obligations or the principal and
interest received on such U.S. Government Obligations.

 

SECTION 8.06.  Reinstatement.  If the Trustee or Paying Agent is unable to
apply any money or U.S. Government Obligations in accordance with this Article VIII
by reason of any legal proceeding or by reason of any order or judgment of any
court or governmental authority enjoining, restraining or otherwise prohibiting
such application, the Company’s obligations under this Indenture and the
Securities shall be revived and reinstated as though no deposit had occurred
pursuant to this Article VIII until such time as the Trustee or Paying
Agent is permitted to apply all such money or U.S. Government Obligations in
accordance with this Article VIII;  provided, however, that, if the

 

75

 

Company has made any payment of
interest on or principal of any Securities because of the reinstatement of its
obligations, the Company shall be subrogated to the rights of the Holders of
such Securities to receive such payment from the money or U.S. Government
Obligations held by the Trustee or Paying Agent.

 

ARTICLE IX

 

Amendments

 

SECTION 9.01.  Without Consent of Holders.  The Company and the Trustee may amend this
Indenture or the Securities without notice to or consent of any Securityholder
to:

 

(1)  cure
any ambiguity, omission, defect or inconsistency;

 

(2)  comply
with Article V;

 

(3)  provide
for uncertificated Securities in addition to or in place of certificated
Securities; provided, however, that
the uncertificated Securities are issued in registered form for purposes of Section 163(f)
of the Code or in a manner such that the uncertificated Securities are
described in Section 163(f)(2)(B) of the Code;

 

(4)  add
Guarantees with respect to the Securities or to release Subsidiary Guarantors
from Subsidiary Guarantees as provided by the terms of this Indenture;

 

(5)  secure
the Securities;

 

(6)  add
to the covenants of the Company for the benefit of the Holders or to surrender
any right or power herein conferred upon the Company;

 

(7)  comply
with any requirements of the SEC in connection with qualifying, or maintaining
the qualification of, this Indenture under the TIA;

 

(8)  make
any change that does not adversely affect the rights of any Securityholder; or

 

(9)  provide
for the issuance of additional Securities in accordance with this Indenture.

 

After an
amendment under this Section becomes effective, the Company shall mail to
Securityholders a notice briefly describing such amendment.  The failure to give such notice to all
Securityholders, or any defect therein, shall not impair or affect the validity
of an amendment under this Section.

 

SECTION 9.02.  With Consent of Holders.  The Company and the Trustee may amend this
Indenture or the Securities without notice to any Securityholder but with

 

76

 

the written consent of the
Holders of at least a majority in aggregate principal amount of the Securities
then outstanding (including consents obtained in connection with a tender offer
or exchange offer for the Securities). 
However, without the consent of each Securityholder affected thereby, an
amendment may not:

 

(1)  reduce
the amount of Securities whose Holders must consent to an amendment or waiver;

 

(2)  reduce
the rate of or extend the time for payment of interest on any Security;

 

(3)  reduce
the principal of or extend the Stated Maturity of any Security;

 

(4)  impair
the right of any Holder to receive payment of principal of and interest on such
Holder’s Securities on or after the due dates therefor or to institute suit for
the enforcement of any payment on or with respect to such Holder’s Securities
or any Subsidiary Guaranty;

 

(5)  reduce
the premium payable upon the redemption of any Security under paragraph (5)
of the Securities or change the time at which any Security may be redeemed in
accordance with paragraph (5) of the Securities and Article III
(other than provisions relating to the notice period for consummating an
optional redemption of the Securities);

 

(6)  make
any Security payable in money other than that stated in the Security; or

 

(7)  subordinate
the Securities to any other obligation of the Company.

 

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

 

After an
amendment under this Section becomes effective, the Company shall mail to
Securityholders a notice briefly describing such amendment.  The failure to give such notice to all
Securityholders, or any defect therein, shall not impair or affect the validity
of an amendment under this Section.

 

SECTION 9.03.  Compliance with Trust
Indenture Act.  Every amendment to
this Indenture or the Securities shall comply with the TIA as then in effect.

 

SECTION 9.04.  Revocation and Effect of
Consents and Waivers.  A consent to
an amendment or a waiver by a Holder of a Security shall bind the Holder and
every subsequent Holder of that Security or portion of the Security that
evidences the same debt as the consenting Holder’s Security, even if notation
of the consent or waiver is not made on the Security.  However, any such Holder or subsequent Holder
may revoke the consent or waiver as to such Holder’s Security or portion of the
Security if the Trustee receives the notice of revocation before the date the
amendment or waiver

 

77

 

becomes effective.  After an amendment or waiver becomes
effective, it shall bind every Securityholder. 
An amendment or waiver becomes effective upon the execution of such
amendment or waiver by the Trustee.

 

The Company
may, but shall not be obligated to, fix a record date for the purpose of
determining the Securityholders entitled to give their consent or take any
other action described above or required or permitted to be taken pursuant to
this Indenture.  If a record date is
fixed, then notwithstanding the immediately preceding paragraph, those Persons
who were Securityholders at such record date (or their duly designated
proxies), and only those Persons, shall be entitled to give such consent or to
revoke any consent previously given or to take any such action, whether or not
such Persons continue to be Holders after such record date.  No such consent shall be valid or effective
for more than 120 days after such record date.

 

SECTION 9.05.  Notation on or Exchange of
Securities.  If an amendment or
waiver changes the terms of a Security, the Trustee may require the Holder of
the Security to deliver such Security to the Trustee.  The Trustee may place an appropriate notation
on the Security regarding the changed terms and return such Security to the
Holder.  Alternatively, if the Company or
the Trustee so determines, the Company in exchange for the Security shall issue
and the Trustee shall authenticate a new Security that reflects the changed
terms.  Failure to make the appropriate
notation or to issue a new Security shall not affect the validity of such
amendment.

 

SECTION 9.06.  Trustee To Sign Amendments.  The Trustee shall sign any amendment
authorized pursuant to this Article IX if the amendment does not adversely
affect the rights, duties, liabilities or immunities of the Trustee.  If it does, the Trustee may but need not sign
it.  In signing such amendment the
Trustee shall be entitled to receive indemnity reasonably satisfactory to it
and to receive, and (subject to Section 7.01) shall be fully protected in
relying upon, an Officers’ Certificate and an Opinion of Counsel stating that
such amendment is authorized or permitted by this Indenture.

 

SECTION 9.07.  Payment for Consent.  Neither the Company nor any Affiliate of the
Company shall, directly or indirectly, pay or cause to be paid any
consideration, whether by way of interest, fee or otherwise, to any Holder for
or as an inducement to any consent, waiver or amendment of any of the terms or
provisions of this Indenture or the Securities unless such consideration is
offered to be paid to all Holders that so consent, waive or agree to amend in
the time frame set forth in solicitation documents relating to such consent,
waiver or agreement.

 

ARTICLE X

 

Subsidiary
Guarantees

 

SECTION 10.01.  Subsidiary Guarantees.  Each Subsidiary Guarantor hereby
unconditionally guarantees, jointly and severally, to each Holder and to the
Trustee and its successors and assigns (a) the full and punctual payment
of principal of

 

78

 

and interest on the Securities
when due, whether at maturity, by acceleration, by redemption or otherwise, and
all other monetary obligations of the Company under this Indenture and the
Securities and (b) the full and punctual performance within applicable
grace periods of all other obligations of the Company under this Indenture and
the Securities (all the foregoing being hereinafter collectively called the “Obligations”).  Each Subsidiary Guarantor further agrees that
the Obligations may be extended or renewed, in whole or in part, without notice
or further assent from such Subsidiary Guarantor, and that such Subsidiary
Guarantor will remain bound under this Article X notwithstanding any
extension or renewal of any Obligation.

 

Each
Subsidiary Guarantor waives presentation to, demand of, payment from and
protest to the Company of any of the Obligations and also waives notice of
protest for nonpayment.  Each Subsidiary
Guarantor waives notice of any default under the Securities or the
Obligations.  The obligations of each
Subsidiary Guarantor hereunder shall not be affected by (a) the failure of
any Holder or the Trustee to assert any claim or demand or to enforce any right
or remedy against the Company or any other Person (including the Subsidiary
Guarantors) under this Indenture, the Securities or any other agreement or
otherwise; (b) any extension or renewal of any thereof; (c) any
rescission, waiver, amendment or modification of any of the terms or provisions
of this Indenture, the Securities or any other agreement; (d) the release
of any security held by any Holder or the Trustee for the Obligations or any of
them; (e) the failure of any Holder or the Trustee to exercise any right
or remedy against any other guarantor of the Obligations; or (f) except as
set forth in Section 10.08, any change in the ownership of such Subsidiary
Guarantor.

 

Each
Subsidiary Guarantor further agrees that its Subsidiary Guaranty herein
constitutes a guarantee of payment, performance and compliance when due (and
not a guarantee of collection) and waives any right to require that any resort
be had by any Holder or the Trustee to any security held for payment of the
Obligations.

 

Except as
expressly set forth in Sections 4.07, 4.14, 8.01(b), 10.07 and 10.08, the
obligations of each Subsidiary Guarantor hereunder shall not be subject to any
reduction, limitation, impairment or termination for any reason, including any
claim of waiver, release, surrender, alteration or compromise, and shall not be
subject to any defense of setoff, counterclaim, recoupment or termination
whatsoever or by reason of the invalidity, illegality or unenforceability of
the Guaranteed Obligations or otherwise. 
Without limiting the generality of the foregoing, the obligations of
each Subsidiary Guarantor herein shall not be discharged or impaired or
otherwise affected by the failure of any Holder or the Trustee to assert any
claim or demand or to enforce any remedy under this Indenture, the Securities
or any other agreement, by any waiver or modification of any thereof, by any
default, failure or delay, willful or otherwise, in the performance of the
obligations, or by any other act or thing or omission or delay to do any other
act or thing which may or might in any manner or to any extent vary the risk of
such Subsidiary Guarantor or would otherwise operate as a discharge of such Subsidiary
Guarantor as a matter of law or equity.

 

79

 

Each
Subsidiary Guarantor further agrees that its Subsidiary Guaranty herein shall
continue to be effective or be reinstated, as the case may be, if at any time
payment, or any part thereof, of principal of or interest on any Obligation is
rescinded or must otherwise be restored by any Holder or the Trustee upon the
bankruptcy or reorganization of the Company or otherwise.

 

In furtherance
of the foregoing and not in limitation of any other right which any Holder or
the Trustee has at law or in equity against any Subsidiary Guarantor by virtue
hereof, upon the failure of the Company to pay the principal of or interest on
any Obligation when and as the same shall become due, whether at maturity, by
acceleration, by redemption or otherwise, or to perform or comply with any
other Obligation, each Subsidiary Guarantor hereby promises to and will, upon
receipt of written demand by the Trustee, forthwith pay, or cause to be paid,
in cash, to the Holders or the Trustee an amount equal to the sum of (i) the
unpaid amount of such Obligations, (ii) accrued and unpaid interest on
such Obligations (but only to the extent not prohibited by law) and (iii) all
other monetary Obligations of the Company to the Holders and the Trustee.

 

Each
Subsidiary Guarantor agrees that it shall not be entitled to any right of
subrogation in respect of any Obligations guaranteed hereby until payment in full
in cash of all Obligations.  Each Subsidiary
Guarantor further agrees that, as between it, on the one hand, and the Holders
and the Trustee, on the other hand, (x) the maturity of the Obligations
guaranteed hereby may be accelerated as provided in Article VI for the
purposes of such Subsidiary Guarantor’s Subsidiary Guaranty herein,
notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the Obligations guaranteed hereby, and (y) in
the event of any declaration of acceleration of such Obligations as provided in
Article VI, such Obligations (whether or not due and payable) shall
forthwith become due and payable by such Subsidiary Guarantor for the purposes
of this Section.

 

Each
Subsidiary Guarantor also agrees to pay any and all costs and expenses (including
reasonable attorneys’ fees) incurred by the Trustee or any Holder in enforcing
any rights under this Section 10.01.

 

SECTION 10.02.  Contribution.  Each Subsidiary Guarantor (a “Contributing
Party”) agrees that, in the event a payment shall be made by any other
Subsidiary Guarantor under any Subsidiary Guaranty (the “Claiming Guarantor”),
the Contributing Party shall indemnify the Claiming Guarantor in an amount
equal to the amount of such payment multiplied by a fraction, the numerator of
which shall be the net worth of the Contributing Party on the date of such
payment and the denominator of which shall be the aggregate net worth of all
the Subsidiary Guarantors on the date of such payment.

 

SECTION 10.03.  Successors and Assigns.  This Article X shall be binding upon
each Subsidiary Guarantor and its successors and assigns and shall inure to the
benefit of the successors and assigns of the Trustee and the Holders and, in
the event of any transfer or assignment of rights by any Holder or the Trustee,
the rights and

 

80

 

privileges conferred upon that
party in this Indenture and in the Securities shall automatically extend to and
be vested in such transferee or assignee, all subject to the terms and conditions
of this Indenture.

 

SECTION 10.04.  No Waiver.  Neither a failure nor a delay on the part of
either the Trustee or the Holders in exercising any right, power or privilege
under this Article X shall operate as a waiver thereof, nor shall a single
or partial exercise thereof preclude any other or further exercise of any
right, power or privilege.  The rights,
remedies and benefits of the Trustee and the Holders herein expressly specified
are cumulative and not exclusive of any other rights, remedies or benefits
which either may have under this Article X at law, in equity, by statute
or otherwise.

 

SECTION 10.05.  Modification.  No modification, amendment or waiver of any
provision of this Article X, nor the consent to any departure by any
Subsidiary Guarantor therefrom, shall in any event be effective unless the same
shall be in writing and signed by the Trustee, and then such waiver or consent
shall be effective only in the specific instance and for the purpose for which
given.  No notice to or demand on any
Subsidiary Guarantor in any case shall entitle such Subsidiary Guarantor to any
other or further notice or demand in the same, similar or other circumstances.

 

SECTION 10.06.  Execution of Supplemental
Indenture for Future Subsidiary Guarantors. 
Each Subsidiary which is required to become a Subsidiary Guarantor
pursuant to Section 4.14 shall promptly execute and deliver to the Trustee
a supplemental indenture in the form of Exhibit B hereto pursuant to which such
Subsidiary shall become a Subsidiary Guarantor under this Article X and
shall guarantee the Obligations. 
Concurrently with the execution and delivery of such supplemental
indenture, the Company shall deliver to the Trustee an Opinion of Counsel to
the effect that such supplemental indenture has been duly authorized, executed
and delivered by such Subsidiary and that, subject to the application of
bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other
similar laws relating to creditors’ rights generally and to the principles of
equity, whether considered in a proceeding at law or in equity, the Subsidiary
Guaranty of such Subsidiary Guarantor is a legal, valid and binding obligation
of such Subsidiary Guarantor, enforceable against such Subsidiary Guarantor in
accordance with its terms.

 

SECTION 10.07.  Limitation on Liability.  Any term or provision of this Indenture to
the contrary notwithstanding, the maximum aggregate amount of the Obligations
guaranteed hereunder by any Subsidiary Guarantor shall not exceed the maximum
amount that can be hereby guaranteed without rendering this Indenture, as it
relates to such Subsidiary Guarantor, voidable under applicable law relating to
fraudulent conveyance or fraudulent transfer or similar laws affecting the
rights of creditors generally.

 

SECTION 10.08.  Release of Subsidiary
Guarantor.  Upon

 

(i)  the sale (including any sale pursuant to any
exercise of remedies by a holder of Debt of the Company or of such Subsidiary
Guarantor) or other

 

81

 

disposition (including by way of
consolidation or merger) of a Subsidiary Guarantor,

 

(ii)  the sale or disposition of all or
substantially all the assets of such Subsidiary Guarantor or

 

(iii)  upon the designation of such Subsidiary Guarantor
as an Unrestricted Subsidiary pursuant to the terms of this Indenture,

 

such
Subsidiary Guarantor shall be deemed released from all obligations under this Article X
without any further action required on the part of the Trustee or any Holder,
in each case other than a sale or disposition to any Parent or a Subsidiary of
any Parent.  In the case of clauses (i)
and (ii) above, the Company shall provide an Officers’ Certificate to the
Trustee to the effect that the Company will comply with its obligations under Section 4.06.  At the request of the Company, the Trustee
shall execute and deliver an appropriate instrument evidencing such release.

 

ARTICLE XI

 

Miscellaneous

 

SECTION 11.01.  Trust Indenture Act
Controls.  If any provision of this
Indenture limits, qualifies or conflicts with another provision that is
required to be included in this Indenture by the TIA, the required provision
shall control.

 

SECTION 11.02.  Notices.  Any notice or communication shall be in
writing and delivered in person or mailed by first-class mail or sent by
facsimile (with a hard copy delivered in person or by mail promptly thereafter)
and addressed as follows:

 

if to the Company or any Subsidiary Guarantor:

 

US Oncology Holdings, Inc.

16825 Northchase Drive

Suite 1300

Houston, TX 77060

 

Attention of:  Chief Financial Officer

 

if to the Trustee:

 

LaSalle Bank National Association

Corporate Trust Administration

135 South LaSalle Street, Suite 1960

Chicago, IL 60603

 

82

 

Attention of: 
Erik Benson

 

The Company or
the Trustee by notice to the other may designate additional or different
addresses for subsequent notices or communications.

 

Any notice or
communication mailed to a Securityholder shall be mailed to the Securityholder
at the Securityholder’s address as it appears on the registration books of the
Registrar and shall be sufficiently given if so mailed within the time
prescribed.

 

Failure to
mail a notice or communication to a Securityholder or any defect in it shall
not affect its sufficiency with respect to other Securityholders.  If a notice or communication is mailed in the
manner provided above, it is duly given, whether or not the addressee receives
it.

 

SECTION 11.03.  Communication by Holders
with Other Holders.  Securityholders
may communicate pursuant to TIA § 312(b) with other Securityholders with
respect to their rights under this Indenture or the Securities.  The Company, the Trustee, the Registrar and
anyone else shall have the protection of TIA § 312(c).

 

SECTION 11.04.  Certificate and Opinion as
to Conditions Precedent.  Upon any
request or application by the Company to the Trustee to take or refrain from
taking any action under this Indenture, the Company shall furnish to the
Trustee:

 

(1)  an
Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee stating that, in the opinion of the signers, all conditions precedent,
if any, provided for in this Indenture relating to the proposed action have
been complied with; and

 

(2)  an
Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
stating that, in the opinion of such counsel, all such conditions precedent
have been complied with.

 

SECTION 11.05.  Statements Required in
Certificate or Opinion.  Each
certificate or opinion with respect to compliance with a covenant or condition
provided for in this Indenture shall include:

 

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

 

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

 

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

 

83

 

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

 

SECTION 11.06.  When Securities Disregarded.  In determining whether the Holders of the
required principal amount of Securities have concurred in any direction, waiver
or consent, Securities owned by the Company, any Subsidiary Guarantor or by any
Person directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company or any Subsidiary Guarantor shall be
disregarded and deemed not to be outstanding, except that, for the purpose of
determining whether the Trustee shall be protected in relying on any such
direction, waiver or consent, only Securities that the Trustee knows are so
owned shall be so disregarded.  Also,
subject to the foregoing, only Securities outstanding at the time shall be
considered in any such determination.

 

SECTION 11.07.  Rules by Trustee, Paying
Agent and Registrar.  The Trustee may
make reasonable rules for action by or a meeting of Securityholders.  The Registrar and the Paying Agent may make
reasonable rules for their functions.

 

SECTION 11.08.  Legal Holidays.  A “Legal Holiday” is a Saturday, a Sunday or
a day on which banking institutions are not required to be open in the State of
New York or the State of Illinois.  If a
payment date is a Legal Holiday, payment shall be made on the next succeeding
day that is not a Legal Holiday, and no interest shall accrue for the
intervening period.  If a regular record
date is a Legal Holiday, the record date shall not be affected.

 

SECTION 11.09.  Governing Law.  THIS
INDENTURE AND THE SECURITIES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK.

 

SECTION 11.10.  No Recourse Against Others.  A director, officer, manager, employee,
incorporator, member, partner or stockholder, as such, of the Company or any
Subsidiary Guarantor shall not have any liability for any obligations of the
Company under the Securities or this Indenture or any such Subsidiary Guarantor
under any Subsidiary Guaranty, as the case may be, or for any claim based on,
in respect of or by reason of such obligations or their creation.  By accepting a Security, each Securityholder
shall waive and release all such liability. 
The waiver and release shall be part of the consideration for the issue
of the Securities.

 

SECTION 11.11.  Successors.  All agreements of the Company and each
Subsidiary Guarantor in this Indenture and the Securities shall bind its
successors.  All agreements of the
Trustee in this Indenture shall bind its successors.

 

SECTION 11.12.  Multiple Originals.  The parties may sign any number of copies of
this Indenture.  Each signed copy shall
be an original, but all of them together represent the same agreement.  One signed copy is enough to prove this
Indenture.

 

84

 

SECTION 11.13.  Table of Contents; Headings.  The table of contents, cross-reference sheet
and headings of the Articles and Sections of this Indenture have been inserted
for convenience of reference only, are not intended to be considered a part
hereof and shall not modify or restrict any of the terms or provisions hereof.

 

IN WITNESS
WHEREOF, the parties have caused this Indenture to be duly executed as of the
date first written above.

 

	
   

  	
  US ONCOLOGY HOLDINGS, INC.,

  
	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   /s/
  Erik R. Benson

  	
   

  
	
   

  	
   

  	
   

  	
  Name: 
  Erik R. Benson

  
	
   

  	
   

  	
   

  	
  Title: 
  First Vice President

  

 

85

 

	
   

  	
  LASALLE BANK NATIONAL

  ASSOCIATION,

  
	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   /s/
  Bruce D. Broussard

  	
   

  
	
   

  	
   

  	
  Name: 
  Bruce D. Broussard

  
	
   

  	
   

  	
  Title: 
  Executive Vice President

  

 

86

 

APPENDIX A

 

PROVISIONS
RELATING TO INITIAL SECURITIES

AND EXCHANGE
SECURITIES

 

1.  Definitions

 

1.1  Definitions

 

Capitalized
terms used but not otherwise defined in this Appendix shall have the meanings
assigned in the Indenture. For the purposes of this Appendix A the following
terms shall have the meanings indicated below:

 

“Applicable Procedures” means, with respect
to any transfer or transaction involving a Temporary Regulation S Global
Security or beneficial interest therein, the rules and procedures of the
Depository, Euroclear and Clearstream for such a Temporary Regulations S Global
Security, in each case to the extent applicable to such transaction and as in
effect from time to time.

 

“Clearstream” means Clearstream Banking,
S.A., or any successor securities clearing agency.

 

“Definitive Security” means a certificated
Initial Security or Exchange Security or Private Exchange Security bearing, if
required, the restricted securities legend set forth in Section 2.3(d).

 

“Depository” means The Depository Trust
Company, its nominees and their respective successors.

 

“Distribution Compliance Period”, with
respect to any Securities, means the period of 40 consecutive days beginning on
and including the later of (i) the day on which such Securities are first
offered to persons other than distributors (as defined in Regulation S under
the Securities Act) in reliance on Regulation S and (ii) the Issue Date
with respect to such Securities.

 

“Exchange Securities” means the Senior
Floating Rate Notes due 2015 to be issued pursuant to the Indenture in
connection with a Registered Exchange Offer pursuant to the Registration
Agreement.

 

“Euroclear” means Euroclear Bank S.A./N.V., as
operator of the Euroclear System, or any successor securities clearing agency.

 

“Initial Purchasers” means (i) with respect
to the Initial Securities issued on the Issue Date, Wachovia Capital Markets,
LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. and (ii)
with respect to each issuance of additional Initial Securities, the Persons
purchasing such additional Initial Securities under the related Purchase
Agreement.

 

 

“Initial Securities” means the Senior
Floating Rate Notes due 2015, to be issued from time to time, in one or more
series as provided for in this Indenture.

 

“Offered Securities” means Initial Securities
in the aggregate principal amount of $250,000,000 issued on March 29, 2005.

 

“Private Exchange” means the offer by the
Company, pursuant to Section 2 of the Registration Agreement, or pursuant
to any similar provision of any other Registration Agreement, to issue and
deliver to certain purchasers, in exchange for the Initial Securities held by
such purchasers as part of their initial distribution, a like aggregate
principal amount of Private Exchange Securities.

 

“Private Exchange Securities” means the
Senior Floating Rate Notes due 2015 to be issued pursuant to this Indenture in
connection with a Private Exchange pursuant to a Registration Agreement.

 

“Purchase Agreement” means (i) with respect
to the Initial Securities issued on the Issue Date, the Purchase Agreement
dated March 15, 2005, between the Company and the Initial Purchasers relating
to the Original Securities, and (ii) with respect to each issuance of additional
Initial Securities, the purchase agreement or underwriting agreement between
the Company and the Persons purchasing such additional Initial Securities.

 

“QIB” means a “qualified institutional buyer”
as defined in Rule 144A.

 

“Registered Exchange Offer” means the offer
by the Company, pursuant to a Registration Agreement, to certain Holders of
Initial Securities, to issue and deliver to such Holders, in exchange for the
Initial Securities, a like aggregate principal amount of Exchange Securities
registered under the Securities Act.

 

“Registration Agreement” means (i) with
respect to the Initial Securities issued on the Issue Date, the Registration
Rights Agreement dated as of March 15, 2005, between the Company and the
Initial Purchasers relating to such Initial Securities and (ii) with respect to
each issuance of additional Initial Securities issued in a transaction exempt
from the registration requirements of the Securities Act, the registration
rights agreement, if any, between the Company and the Persons purchasing such additional
Initial Securities under the related Purchase Agreement.

 

“Rule 144A Securities” means all Initial
Securities offered and sold to QIBs in reliance on Rule 144A.

 

“Securities” means the Initial Securities and
the Exchange Securities, treated as a single class.

 

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

 

2

 

“Securities Custodian” means the custodian
with respect to a Global Security (as appointed by the Depository) or any
successor person thereto, who shall initially be the Trustee.

 

“Shelf Registration Statement” means a
registration statement issued by the Company in connection with the offer and
sale of Initial Securities or Private Exchange Securities pursuant to the
Registration Agreement.

 

“Transfer Restricted Securities” means
Definitive Securities and any other Securities that bear or are required to
bear the legend set forth in Section 2.3(d) hereto.

 

1.2  Other
Definitions

 

	
  Term

  	
   

  	
  Defined In

  Section:

  
	
  “Agent Members”

  	
   

  	
  2.1(b)

  
	
  “Global Security”

  	
   

  	
  2.1(a)

  
	
  “Regulation S”

  	
   

  	
  2.1

  
	
  “Rule 144A”

  	
   

  	
  2.1

  
	
  “Rule 144A Global Security”

  	
   

  	
  2.1(a)

  
	
  “Permanent Regulation S Global Security”

  	
   

  	
  2.1(a)

  
	
  “Temporary Regulation S Global Security”

  	
   

  	
  2.1(a)

  

 

2.  The
Securities

 

2.1  Form
and Dating

 

The Initial
Securities will be offered and sold by the Company, from time to time, pursuant
to one or more Purchase Agreements.  The
Initial Securities will be resold initially only to QIBs in reliance on Rule
144A under the Securities Act (“Rule 144A”) and in reliance on Regulation S
under the Securities Act (“Regulation S”). 
Initial Securities may thereafter be transferred to, among others, QIBs and
purchasers in reliance on Regulation S, subject to the restrictions on transfer
set forth herein.

 

(a)  Global Securities.  Initial Securities initially resold pursuant
to Rule 144A shall be issued initially in the form of one or more permanent
global Securities in definitive, fully registered form (collectively, the “Rule
144A Global Security”) and Initial Securities initially resold pursuant to
Regulation S shall be issued initially in the form of one or more temporary
global securities (collectively, the “Temporary Regulation S Global Security”),
in each case without interest coupons and with the global securities legend and
restricted securities legend set forth in Exhibit 1 hereto, which shall be
deposited on behalf of the purchasers of the Initial Securities represented
thereby with the Securities Custodian, and registered in the name of the
Depository or a nominee of the Depository, duly executed by the Company and
authenticated by the Trustee as provided in this Indenture.  Beneficial ownership interests in the
Temporary Regulation S Global Security will not be exchangeable for interests
in the Rule 144A Global Security, a

 

3

 

permanent global security (the “Permanent Regulation S Global Security”),
or any other Security without a legend containing restrictions on transfer of
such Security prior to the expiration of the Distribution Compliance Period and
then only upon certification in form reasonably satisfactory to the Trustee
that beneficial ownership interests in such Temporary Regulation S Global
Security are owned either by non-U.S. persons or U.S. persons who purchased
such interests in a transaction that did not require registration under the
Securities Act.  The Rule 144A Global
Security, Temporary Regulation S Global Security and Permanent Regulation S
Global Security are collectively referred to herein as “Global Securities.”  The aggregate principal amount of the Global
Securities may from time to time be increased or decreased by adjustments made
on the records of the Trustee and the Depository or its nominee as hereinafter
provided.

 

(b)  Book-Entry
Provisions.  This Section 2.1(b)
shall apply only to a Global Security deposited with or on behalf of the
Depository.

 

The Company
shall execute and the Trustee shall, in accordance with this Section 2.1(b)
and pursuant to an order of the Company, authenticate and deliver initially one
or more Global Securities that (a) shall be registered in the name of the
Depository for such Global Security or Global Securities or the nominee of such
Depository and (b) shall be delivered by the Trustee to such Depository or
pursuant to such Depository’s instructions or held by the Trustee as Securities
Custodian.

 

Members of, or
participants in, the Depository (“Agent Members”) shall have no rights under
this Indenture with respect to any Global Security held on their behalf by the
Depository or by the Trustee as Securities Custodian or under such Global
Security, and the Depository may be treated by the Company, the Trustee and any
agent of the Company or the Trustee as the absolute owner of such Global
Security for all purposes whatsoever. 
Notwithstanding the foregoing, nothing herein shall prevent the Company,
the Trustee or any agent of the Company or the Trustee from giving effect to any
written certification, proxy or other authorization furnished by the Depository
or impair, as between the Depository and its Agent Members, the operation of
customary practices of such Depository governing the exercise of the rights of
a holder of a beneficial interest in any Global Security.

 

(c)  Definitive
Securities.  Except as provided in Section 2.3
or 2.4, owners of beneficial interests in Global Securities will not be
entitled to receive physical delivery of Definitive Securities.

 

2.2  Authentication.  The Trustee shall authenticate and
deliver:  (1) Offered Securities for
original issue in an aggregate principal amount of $250,000,000, (2) additional
Initial Securities, if and when issued, in an unlimited amount (subject to
compliance with Section 4.03 of this Indenture) and (3) the Exchange
Securities or Private Exchange Securities for issue only in a Registered
Exchange Offer or a Private Exchange, respectively, pursuant to the
Registration Agreement, for a like principal amount of Initial Securities or
Private Exchange Securities, as applicable, upon a written order of the Company
signed by two Officers or by an Officer and either an Assistant Treasurer or an
Assistant Secretary of the Company.  Such
order shall specify the amount

 

4

 

of the Securities to be authenticated and the date on which the
original issue of Securities is to be authenticated and whether the Securities
are to be Initial Securities or Exchange Securities.  The aggregate principal amount of Securities
that may be outstanding at any time is unlimited.

 

2.3  Transfer
and Exchange.  (a)  Transfer and Exchange of Definitive
Securities.  When Definitive
Securities are presented to the Registrar with a request:

 

(x) to
register the transfer of such Definitive Securities; or

 

(y) to
exchange such Definitive Securities for an equal principal amount of Definitive
Securities of other authorized denominations,

 

the Registrar
shall register the transfer or make the exchange as requested if its reasonable
requirements for such transaction are met; provided, however, that the Definitive Securities surrendered for transfer or
exchange:

 

(i)  shall be duly endorsed or
accompanied by a written instrument of transfer in form reasonably satisfactory
to the Company and the Registrar, duly executed by the Holder thereof or his
attorney duly authorized in writing; and

 

(ii)  if such Definitive
Securities bear a restricted securities legend, they are being transferred or
exchanged pursuant to an effective registration statement under the Securities
Act or pursuant to clause (A), (B) or (C) below, and are accompanied by the
following additional information and documents, as applicable:

 

(A)  if such
Definitive Securities are being delivered to the Registrar by a Holder for
registration in the name of such Holder, without transfer, a certification from
such Holder to that effect; or

 

(B)  if such
Definitive Securities are being transferred to the Company, a certification to
that effect; or

 

(C)  if such
Definitive Securities are being transferred pursuant to an exemption from
registration (i) in accordance with Rule 144A or Regulation S under
the Securities Act, a certification to that effect and (ii) in accordance
with Rule 144 under the Securities Act (a) a certification to that
effect and (b) if the Company so requests, an opinion of counsel or other
evidence reasonably satisfactory to it as to the compliance with the
restrictions set forth in the legend set forth in Section 2.3(e)(i).

 

(b)  Restrictions on
Transfer of a Definitive Security for a Beneficial Interest in a Global
Security.  A Definitive Security may
not be exchanged for a beneficial interest in a Rule 144A Global Security or a
Permanent Regulation S Global Security except upon satisfaction of the
requirements set forth below.  Upon
receipt by

 

5

 

the Trustee of a Definitive Security, duly endorsed or accompanied by
appropriate instruments of transfer, in form satisfactory to the Trustee,
together with:

 

(i)  certification, in the form set
forth on the reverse of the Security, that such Definitive Security is either
(A) being transferred to a QIB in accordance with Rule 144A or (B) is being
transferred after expiration of the Distribution Compliance Period by a Person
who initially purchased such Security in reliance on Regulation S to a buyer
who elects to hold its interest in such Security in the form of a beneficial
interest in the Permanent Regulation S Global Security; and

 

(ii)  written instructions
directing the Trustee to make, or to direct the Securities Custodian to make,
an adjustment on its books and records with respect to such Rule 144A Global
Security (in the case of a transfer pursuant to clause (b)(i)(A)) or Permanent
Regulation S Global Security (in the case of a transfer pursuant to clause
(b)(i)(B)) to reflect an increase in the aggregate principal amount of the
Securities represented by the Rule 144A Global Security or Permanent Regulation
S Global Security, as applicable, such instructions to contain information regarding
the Depository account to be credited with such increase,

 

then the
Trustee shall cancel such Definitive Security and cause, or direct the
Securities Custodian to cause, in accordance with the standing instructions and
procedures existing between the Depository and the Securities Custodian, the
aggregate principal amount of Securities represented by the Rule 144A Global
Security or Permanent Regulation S Global Security, as applicable, to be
increased by the aggregate principal amount of the Definitive Security to be
exchanged and shall credit or cause to be credited to the account of the Person
specified in such instructions a beneficial interest in the Rule 144A Global
Security or Permanent Regulation S Global Security, as applicable, equal to the
principal amount of the Definitive Security so canceled.  If no Rule 144A Global Securities or
Permanent Regulation S Global Securities, as applicable, are then outstanding,
the Company shall issue and the Trustee shall authenticate, upon written order
of the Company in the form of an Officers’ Certificate of the Company, a new
Rule 144A Global Security or Permanent Regulation S Global Security, as
applicable, in the appropriate principal amount.

 

(c)  Transfer and
Exchange of Global Securities.  (i)  The transfer and exchange of Global
Securities or beneficial interests therein shall be effected through the
Depository, in accordance with this Indenture (including applicable
restrictions on transfer set forth herein, if any) and the procedures of the
Depository therefor.  A transferor of a
beneficial interest in a Global Security shall deliver a written order given in
accordance with the Depository’s procedures containing information regarding
the participant account of the Depository to be credited with a beneficial
interest in the Global Security and such account shall be credited in
accordance with such instructions with a beneficial interest in the Global
Security and the account of the Person making the transfer shall be debited by
an amount equal to the beneficial interest in the Global Security being
transferred.

 

6

 

(ii)  If the proposed transfer is
a transfer of a beneficial interest in one Global Security to a beneficial
interest in another Global Security, the Registrar shall reflect on its books
and records the date and an increase in the principal amount of the Global
Security to which such interest is being transferred in an amount equal to the
principal amount of the interest to be so transferred, and the Registrar shall
reflect on its books and records the date and a corresponding decrease in the
principal amount of the Global Security from which such interest is being
transferred.

 

(iii)  Notwithstanding any other
provisions of this Appendix A (other than the provisions set forth in Section 2.4),
a Global Security may not be transferred as a whole except by the Depository to
a nominee of the Depository or by a nominee of the Depository to the Depository
or another nominee of the Depository or by the Depository or any such nominee
to a successor Depository or a nominee of such successor Depository.

 

(iv)  In the event that a Global
Security is exchanged for Definitive Securities pursuant to Section 2.4
prior to the consummation of a Registered Exchange Offer or the effectiveness
of a Shelf Registration Statement with respect to such Securities, such
Securities may be exchanged only in accordance with such procedures as are
substantially consistent with the provisions of this Section 2.3
(including the certification requirements set forth on the reverse of the
Initial Securities intended to ensure that such transfers comply with Rule
144A, Regulation S or such other applicable exemption from registration under
the Securities Act, as the case may be) and such other procedures as may from
time to time be adopted by the Company.

 

(d)  Restrictions on
Transfer of Temporary Regulation S Global Securities.  During the Distribution Compliance Period,
beneficial ownership interests in Temporary Regulation S Global Securities may
only be sold, pledged or transferred through Euroclear or Clearstream in
accordance with the Applicable Procedures and only (i) to the Company, (ii) so
long as such Security is eligible for resale pursuant to Rule 144A, to a Person
whom the selling holder reasonably believes is a QIB that purchases for its own
account or for the account of a QIB to whom notice is given that the resale,
pledge or transfer is being made in reliance on Rule 144A, (iii) in an
offshore transaction in accordance with Regulation S or (iv) pursuant to
an exemption from registration under the Securities Act provided by Rule 144
(if applicable) under the Securities Act, in each case in accordance with any
applicable securities laws of any state of the United States.

 

(e)  Legend.

 

(i)  Except as permitted by the
following paragraphs (ii), (iii) and (iv), each certificate evidencing the
Global Securities and the Definitive Securities (and all Securities issued in
exchange therefor or in substitution thereof) shall bear a legend in
substantially the following form:

 

7

 

“THIS SECURITY HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”).
THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, AGREES FOR THE BENEFIT OF THE
COMPANY THAT THIS SECURITY MAY NOT BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED
(X) PRIOR TO THE SECOND ANNIVERSARY OF THE ISSUANCE HEREOF (OR ANY
PREDECESSOR SECURITY HERETO) OR (Y) BY ANY HOLDER THAT WAS AN AFFILIATE OF
THE COMPANY AT ANY TIME DURING THE THREE MONTHS PRECEDING THE DATE OF SUCH
TRANSFER, IN EITHER CASE OTHER THAN (1) TO THE COMPANY, (2) SO LONG
AS THIS SECURITY IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT (“RULE 144A”), TO A PERSON WHOM THE SELLER REASONABLY BELIEVES
IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A PURCHASING
FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO
WHOM NOTICE IS GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A (AS INDICATED BY THE BOX CHECKED BY THE TRANSFEROR ON THE
CERTIFICATE OF TRANSFER ON THE REVERSE OF THIS SECURITY), (3) IN AN
OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT
(AS INDICATED BY THE BOX CHECKED BY THE TRANSFEROR ON THE CERTIFICATE OF
TRANSFER ON THE REVERSE OF THIS SECURITY), (4) PURSUANT TO AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 (IF APPLICABLE)
UNDER THE SECURITIES ACT, OR (5) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ANY
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES.  THE HOLDER HEREOF, BY PURCHASING THIS SECURITY,
REPRESENTS AND AGREES FOR THE BENEFIT OF THE COMPANY THAT IT IS (1) A
QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A OR (2) A NON-U.S.
PERSON OUTSIDE THE UNITED STATES WITHIN THE MEANING OF (OR AN ACCOUNT
SATISFYING THE REQUIREMENTS OF PARAGRAPH (k)(2)(i) OF RULE 902 UNDER)
REGULATION S UNDER THE SECURITIES ACT.”

 

Each
Definitive Security will also bear the following additional legend:

 

“IN CONNECTION
WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT
SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY
REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.”

 

8

 

(ii)  Upon any sale or transfer
of a Transfer Restricted Security (including any Transfer Restricted Security
represented by a Global Security) pursuant to Rule 144 under the Securities
Act:

 

(A)  in the case
of any Transfer Restricted Security that is a Definitive Security, the
Registrar shall permit the Holder thereof to exchange such Transfer Restricted
Security for a Security that does not bear the legends set forth above and
rescind any restriction on the transfer of such Transfer Restricted Security;
and

 

(B)  in the case
of any Transfer Restricted Security that is represented by a Global Security,
the Registrar shall permit the Holder thereof to exchange such Transfer
Restricted Security for a Security that does not bear the legends set forth
above and rescind any restriction on the transfer of such Transfer Restricted
Security,

 

in either
case, if the Holder certifies in writing to the Registrar that its request for
such exchange was made in reliance on Rule 144 (such certification to be in the
form set forth on the reverse of the Initial Security).

 

(iii)  After a transfer of any
Initial Securities or Private Exchange Securities, as the case may be, during
the period of the effectiveness of a Shelf Registration Statement with respect
to such Initial Securities or Private Exchange Securities, all requirements
pertaining to restricted legends on such Initial Security or such Private
Exchange Security will cease to apply and an Initial Security or Private
Exchange Security, as the case may be, in global form without restricted
legends will be available to the transferee of the beneficial interests of such
Initial Securities or Private Exchange Securities.  Upon the occurrence of any of the
circumstances described in this paragraph, the Company will deliver an Officers’
Certificate to the Trustee instructing the Trustee to issue Securities without
restricted legends.

 

(iv)  Upon the consummation of a
Registered Exchange Offer with respect to the Initial Securities pursuant to
which certain Holders of such Initial Securities are offered Exchange
Securities in exchange for their Initial Securities, Exchange Securities in
global form without the restricted legends will be available to Holders or
beneficial owners that exchange such Initial Securities (or beneficial
interests therein) in such Registered Exchange Offer.  Upon the occurrence of any of the
circumstances described in this paragraph, the Company will deliver an Officers’
Certificate to the Trustee instructing the Trustee to issue Securities without
restricted legends.

 

(f)  Cancelation or
Adjustment of Global Security.  At
such time as all beneficial interests in a Global Security have either been
exchanged for Definitive Securities, redeemed, repurchased or canceled, such
Global Security shall be returned by the Depository to the Trustee for
cancelation or retained and canceled by the Trustee.  At any time prior to such cancelation, if any
beneficial interest in a Global Security is

 

9

 

exchanged for Definitive Securities, redeemed, repurchased or canceled,
the principal amount of Securities represented by such Global Security shall be
reduced and an adjustment shall be made on the books and records of the Trustee
(if it is then the Securities Custodian for such Global Security) with respect
to such Global Security, by the Trustee or the Securities Custodian, to reflect
such reduction.

 

(g)  Obligations with
Respect to Transfers and Exchanges of Securities.

 

(i)  To permit registrations of
transfers and exchanges, the Company shall execute and the Trustee shall
authenticate Definitive Securities and Global Securities at the Registrar’s
request.

 

(ii)  No service charge shall be
made for any registration of transfer or exchange, but the Company may require
payment of a sum sufficient to cover any transfer tax, assessments, or similar
governmental charge payable in connection therewith (other than any such
transfer taxes, assessments or similar governmental charge payable upon
exchange or transfer pursuant to Sections 3.06, 4.06, 4.13 and 9.05 of this
Indenture).

 

(iii)  The Registrar shall not be
required to register the transfer of or exchange of any Security for a period
beginning 15 days before the mailing of a notice of redemption or an offer to
repurchase Securities or 15 days before an interest payment date.

 

(iv)  Prior to the due
presentation for registration of transfer of any Security, the Company, the
Trustee, the Paying Agent or the Registrar may deem and treat the person in
whose name a Security is registered as the absolute owner of such Security for
the purpose of receiving payment of principal of and interest on such Security
and for all other purposes whatsoever, whether or not such Security is overdue,
and none of the Company, the Trustee, the Paying Agent or the Registrar shall
be affected by notice to the contrary.

 

(v)  All Securities issued upon
any transfer or exchange pursuant to the terms of this Indenture shall evidence
the same debt and shall be entitled to the same benefits under this Indenture
as the Securities surrendered upon such transfer or exchange.

 

(h)  No Obligation of
the Trustee.

 

(i)  The Trustee shall have no
responsibility or obligation to any beneficial owner of a Global Security, a
member of, or a participant in the Depository or any other Person with respect
to the accuracy of the records of the Depository 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 Depository) of any notice (including any notice of
redemption or repurchase) or the payment of any amount, under or with respect
to such Securities.  All notices and
communications

 

10

 

to be given to
the Holders and all payments to be made to Holders under the Securities shall
be given or made only to the registered Holders (which shall be the Depository
or its nominee in the case of a Global Security).  The rights of beneficial owners in any Global
Security shall be exercised only through the Depository subject to the applicable
rules and procedures of the Depository. 
The Trustee may rely and shall be fully protected in relying upon
information furnished by the Depository with respect to its members,
participants and any beneficial owners.

 

(ii)  The Trustee shall have no
obligation or duty to monitor, determine or inquire as to compliance with any
restrictions on transfer imposed under this Indenture or under applicable law
with respect to any transfer of any interest in any Security (including any
transfers between or among Depository participants, members or beneficial
owners in any Global Security) other than to require delivery of such
certificates and other documentation or evidence as are expressly required by,
and to do so if and when expressly required by, the terms of this Indenture,
and to examine the same to determine substantial compliance as to form with the
express requirements hereof.

 

2.4  Definitive
Securities

 

(a)  A Global Security
deposited with the Depository or with the Trustee as Securities Custodian pursuant
to Section 2.1 shall be transferred to the beneficial owners thereof in
the form of Definitive Securities in an aggregate principal amount equal to the
principal amount of such Global Security, in exchange for such Global Security,
only if such transfer complies with Section 2.3 and (i) the
Depository notifies the Company that it is unwilling or unable to continue as a
Depository for such Global Security or if at any time the Depository ceases to
be a “clearing agency” registered under the Exchange Act, and, in either case, a
successor Depository is not appointed by the Company within 90 days of such
notice, or (ii) a Default or an Event of Default has occurred and is
continuing or (iii) the Company, in its sole discretion, notifies the
Trustee in writing that it elects to cause the issuance of Definitive
Securities under this Indenture.

 

(b)  Any Global Security
that is transferable to the beneficial owners thereof pursuant to this Section 2.4
shall be surrendered by the Depository to the Trustee, to be so transferred, in
whole or from time to time in part, without charge, and the Trustee shall
authenticate and deliver, upon such transfer of each portion of such Global
Security, an equal aggregate principal amount of Definitive Securities of
authorized denominations.  Definitive
Securities issued in exchange for any portion of a Global Security transferred
pursuant to this Section shall be executed, authenticated and delivered
only in denominations of $1,000 and any integral multiple thereof and registered
in such names as the Depository shall direct. 
Any Definitive Security delivered in exchange for an interest in the
Global Security shall, except as otherwise provided by Section 2.3(e),
bear the restricted securities legend set forth in Exhibit 1 hereto.

 

11

 

(c)  The registered Holder
of a Global Security may grant proxies and otherwise authorize any Person,
including Agent Members and Persons that may hold interests through Agent
Members, to take any action that a Holder is entitled to take under this
Indenture or the Securities.

 

(d)  In the event of the
occurrence of any of the events specified in Section 2.4(a)(i), (ii) or
(iii), the Company will promptly make available to the Trustee a reasonable supply
of Definitive Securities in definitive, fully registered form without interest
coupons.

 

12

 

EXHIBIT 1

to APPENDIX A

 

[FORM OF FACE OF
INITIAL SECURITY]

 

[Global Securities Legend]

 

UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY
OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), 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.

 

TRANSFERS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART,
TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND
TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS
MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO
ON THE REVERSE HEREOF.

 

[Restricted Securities Legend]

 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”). THE HOLDER HEREOF, BY PURCHASING THIS SECURITY,
AGREES FOR THE BENEFIT OF THE COMPANY THAT THIS SECURITY MAY NOT BE RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED (X) PRIOR TO THE SECOND ANNIVERSARY OF
THE ISSUANCE HEREOF (OR ANY PREDECESSOR SECURITY HERETO) OR (Y) BY ANY
HOLDER THAT WAS AN AFFILIATE OF THE COMPANY AT ANY TIME DURING THE THREE MONTHS
PRECEDING THE DATE OF SUCH TRANSFER, IN EITHER CASE, OTHER THAN (1) TO THE
COMPANY, (2) SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE PURSUANT TO
RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF
RULE 144A, PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER
IS BEING MADE IN RELIANCE ON RULE 144A (AS INDICATED BY THE BOX CHECKED BY THE
TRANSFEROR ON THE CERTIFICATE OF TRANSFER ON THE REVERSE OF THIS SECURITY), (3) IN
AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES
ACT (AS INDICATED BY THE BOX CHECKED BY

 

 

THE TRANSFEROR
ON THE CERTIFICATE OF TRANSFER ON THE REVERSE OF THIS SECURITY), (4) PURSUANT
TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144
(IF APPLICABLE) UNDER THE SECURITIES ACT, OR (5) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE
WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES.  THE HOLDER HEREOF, BY PURCHASING THIS SECURITY,
REPRESENTS AND AGREES FOR THE BENEFIT OF THE COMPANY THAT IT IS (1) A
QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A OR (2) A NON-U.S.
PERSON OUTSIDE THE UNITED STATES WITHIN THE MEANING OF (OR AN ACCOUNT
SATISFYING THE REQUIREMENTS OF PARAGRAPH (k)(2)(i) OF RULE 902 UNDER)
REGULATION S UNDER THE SECURITIES ACT.

 

[Temporary Regulation S Global Security Legend]

 

BENEFICIAL
OWNERSHIP INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE WILL NOT BE
EXCHANGEABLE FOR INTERESTS IN THE RULE 144A GLOBAL NOTE OR THE PERMANENT
REGULATION S GLOBAL NOTE OR ANY OTHER NOTE REPRESENTING AN INTEREST IN THE
NOTES REPRESENTED HEREBY WHICH DO NOT CONTAIN A LEGEND CONTAINING RESTRICTIONS
ON TRANSFER, UNTIL THE EXPIRATION OF THE “40-DAY DISTRIBUTED COMPLIANCE PERIOD”
(WITHIN THE MEANING OF RULE 903(b)(3) OF REGULATION S UNDER THE SECURITIES ACT)
AND THEN ONLY UPON CERTIFICATION IN FORM REASONABLY SATISFACTORY TO THE TRUSTEE
THAT SUCH BENEFICIAL INTERESTS ARE OWNED EITHER BY NON-U.S. PERSONS OR U.S.
PERSONS WHO PURCHASED SUCH INTERESTS IN A TRANSACTION THAT DID NOT REQUIRE
REGISTRATION UNDER THE SECURITIES ACT. 
DURING SUCH 40-DAY DISTRIBUTION COMPLIANCE PERIOD, BENEFICIAL OWNERSHIP
INTERESTS IN THIS TEMPORARY REGULATION S GLOBAL NOTE MAY ONLY BE SOLD, PLEDGED
OR TRANSFERRED THROUGH THE EUROCLEAR SYSTEM OR CLEARSTREAM BANKING S.A. AND
ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) TO A QUALIFIED
INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE
THE UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER
THE SECURITIES ACT, (D) PURSUANT TO THE EXEMPTION FROM REGISTRATION
PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), OR (E) PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF
CASES (A) THROUGH (E) IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY
STATE OF THE UNITED STATES AND OTHER JURISDICTIONS.  HOLDERS OF INTERESTS IN THIS TEMPORARY
REGULATION S GLOBAL NOTE WILL NOTIFY ANY PURCHASER OF SUCH RESALE RESTRICTIONS,
IF THEN APPLICABLE.

 

2

 

[Definitive Securities Legend]

 

IN CONNECTION
WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT
SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE
TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.

 

3

 

[FORM OF FACE OF
INITIAL SECURITY]

 

	
  No.

  	
   

  	
  [up to]**$____________

  

 

Senior Floating Rate Note due 2015

 

	
   

  	
  CUSIP No.

  

 

US Oncology
Holdings, Inc., a Delaware corporation, promises to pay to [Cede & Co.]**,
or registered assigns, the principal sum [of                 Dollars]*
[as set forth on the Schedule of Increases or Decreases annexed hereto]**
on March 15, 2015.

 

Interest Payment
Dates: March 15 and September 15.

 

Record
Dates:  March 1 and September 1.

 

 

*  Insert for Definitive
Securities

**Insert for Global Securities

 

 

Additional
provisions of this Security are set forth on the other side of this Security.

 

IN WITNESS WHEREOF,
the parties have caused this instrument to be duly executed.

 

	
   

  	
  US ONCOLOGY HOLDINGS,

  INC.,

  
	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
  TRUSTEE’S CERTIFICATE OF

  	
   

  
	
   

  	
  AUTHENTICATION

  	
   

  
	
   

  	
   

  
	
  Dated:

  	
   

  
	
   

  	
   

  
	
  LASALLE BANK NATIONAL ASSOCIATION,

  	
   

  
	
   

  	
   

  
	
   

  	
  as Trustee,
  certifies

  	
   

  
	
   

  	
  that this is
  one of

  	
   

  
	
   

  	
  the
  Securities referred

  	
   

  
	
   

  	
  to in the
  Indenture.

  	
   

  
	
   

  	
   

  
	
  by:

  	
   

  	
   

  	
   

  
	
   

  	
  Authorized
  Signatory

  	
   

  	
   

  
								

 

2

 

[FORM OF REVERSE
SIDE OF INITIAL SECURITY]

 

Senior Floating Rate Note due 2015

 

1.                                       Interest

 

(a)  US
Oncology Holdings, Inc., a Delaware corporation (such corporation, and its
successors and assigns under the Indenture hereinafter referred to, being
herein called the “Company”), promises to pay interest on the principal amount
of this Security at the rate per annum, reset semi-annually, equal to LIBOR
plus 5 1/4%, as determined by the calculation agent appointed by the Company
(the “Calculation Agent”), which shall initially be the Trustee.  The Company will pay interest semiannually on
March 15 and September 15 of each year, commencing September 15,
2005.  Interest on the Securities will
accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from March 29, 2005.  The amount of interest for each day that the
Security is outstanding (the “Daily Interest Amount”) will be calculated by
dividing the interest rate in effect for such day by 365 and multiplying the
result by the principal amount of the Security. 
The amount of interest to be paid on the Security for each Interest
Period will be calculated by adding the Daily Interest Amounts for each day in
the Interest Period.  The Company shall
pay interest on overdue principal at the rate borne by the Securities plus 1%
per annum, and it shall pay interest on overdue installments of interest at the
rate borne by the Securities to the extent lawful.

 

All
percentages resulting from any calculations in connection with the
determination of interest on the Securities will be rounded, if necessary, to
the nearest one hundred thousandth of a percentage point, with five
one-millionths of a percentage point being rounded upwards (e.g., 9.876545% (or
..09876545) being rounded to 9.87655% (or .0987655)) and all dollar amounts used
in or resulting from such calculations will be rounded to the nearest cent
(with one-half cent being rounded upwards). 
The interest rate on the Security will in no event be higher than the
maximum rate permitted by New York law as the same may be modified by United
States law of general application.

 

The
Calculation Agent will, upon the request of the Holder of any Security, provide
the interest rate then in effect with respect to the Security.  All calculations made by the Calculation
Agent in the absence of manifest error will be conclusive for all purposes and
binding on the Company and the Holders of the Securities.

 

(b)  Special
Interest.  The holder of this
Security is entitled to the benefits of a Registration Rights Agreement, dated
as of March 29, 2005, among the Company and the Purchasers named therein
(the “Registration Agreement”). 
Capitalized terms used in this paragraph (b) but not defined herein have
the meanings assigned to them in the Registration Agreement.  In the event that (i) neither the
Exchange Offer Registration Statement nor the Shelf Registration Statement has
been filed with the Commission on or prior to the 120th day following the date
of the original issuance of the Securities, (ii) neither the Exchange
Offer Registration Statement nor the Shelf Registration

 

3

 

Statement has been declared effective on or prior to the 210th day
following the date of the original issuance of the Securities, (iii) neither
the Registered Exchange Offer has been consummated nor the Shelf Registration
Statement has been declared effective on or prior to the 240th day following
the date of the original issuance of the Securities, or (iv) after the Exchange
Offer Registration Statement or the Shelf Registration Statement has been
declared effective, such Registration Statement thereafter ceases to be
effective or usable in connection with resales of the Securities at any time
that the Company is obligated to maintain the effectiveness thereof pursuant to
the Registration Agreement (each such event referred to in clauses (i) through
(iv) above being referred to herein as a “Registration Default”), interest (the
“Special Interest”) shall accrue (in addition to stated interest on the
Securities) from and including the date on which the first such Registration
Default shall occur to but excluding the date on which all Registration
Defaults have been cured, at a rate per annum equal to 0.25% of the principal
amount of the Securities; provided,
however, that such rate per annum shall increase by 0.25% per annum from
and including the 91st day after the first such Registration Default (and each
successive 91st day thereafter) unless and until all Registration Defaults have
been cured; provided further, however, that in no event shall the
Special Interest accrue at a rate in excess of 1.00% per annum.  The Special Interest will be payable in cash
semiannually in arrears each March 15 and September 15.

 

2.                                       Method
of Payment

 

The Company
will pay interest on the Securities (except defaulted interest) to the Persons
who are registered holders of Securities at the close of business on the March 1
or September 1 next preceding the interest payment date even if Securities
are canceled after the record date and on or before the interest payment
date.  Holders must surrender Securities
to a Paying Agent to collect principal payments.  The Company will pay principal and interest
in money of the United States of America that at the time of payment is legal
tender for payment of public and private debts. 
Payments in respect of the Securities represented by a Global Security
(including principal, premium and interest) will be made by wire transfer of
immediately available funds to the accounts specified by The Depository Trust
Company.  The Company will make all
payments in respect of a Definitive Security (including principal, premium and
interest), by mailing a check to the registered address of each Holder thereof;
provided, however, that payments on
the Securities will be made by wire transfer to a U.S. dollar account
maintained by the payee with a bank in the United States if such Holder elects
payment by wire transfer by giving written notice to the Trustee or the Paying
Agent to such effect designating such account no later than 30 days immediately
preceding the relevant due date for payment (or such other date as the Trustee
may accept in its discretion).

 

3.                                       Paying
Agent and Registrar

 

Initially, LaSalle
Bank National Association, a national banking association (the “Trustee”), will
act as Paying Agent and Registrar.  The
Company may appoint and change any Paying Agent or Registrar without
notice.  The Company or any of its
domestically incorporated Wholly Owned Subsidiaries may act as Paying Agent or
Registrar.

 

4

 

4.                                       Indenture

 

The Company
issued the Securities under an Indenture dated as of March 29, 2005 (the “Indenture”),
between the Company and the Trustee.  The
terms of the Securities include those stated in the Indenture and those made
part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C.
§§ 77aaa-77bbbb) as in effect on the date of the Indenture (the “TIA”).  Terms defined in the Indenture and not
defined herein have the meanings ascribed thereto in the Indenture.  The Securities are subject to all such terms,
and Securityholders are referred to the Indenture and the TIA for a statement
of those terms.

 

The Securities
are senior unsecured obligations of the Company.  [This Security is one of the Offered
Securities referred to in the Indenture issued in an aggregate principal amount
of $250,000,000.  The Securities include
the Offered Securities, an unlimited amount of additional Initial Securities
that may be issued under the Indenture, and any Exchange Securities issued in
exchange for Initial Securities].  [This
Security is one of the unlimited amount of additional Initial Securities.  The Securities include such additional
Securities, the Offered Securities in an aggregate principal amount of $250,000,000
previously issued under the Indenture and any Exchange Securities issued in
exchange for Initial Securities.  The
additional Initial Securities, the Offered Securities and the Exchange
Securities are treated as a single class of securities under the
Indenture.]  The Offered Securities, such
additional Initial Securities and the Exchange Securities are treated as a
single class of securities under the Indenture. 
The Indenture imposes certain limitations on the ability of the Company
and its Restricted Subsidiaries to, among other things, make certain
Investments and other Restricted Payments, pay dividends and other
distributions, incur Debt, enter into consensual restrictions upon the payment
of certain dividends and distributions by such Restricted Subsidiaries, issue
or sell shares of capital stock of such Restricted Subsidiaries, enter into or
permit certain transactions with Affiliates, create or incur Liens, enter into
or permit certain Sale and Leaseback Transactions and make Asset Sales.  The Indenture also imposes limitations on the
ability of the Company to consolidate or merge with or into any other Person or
sell, transfer, assign, lease, convey or otherwise dispose of all or
substantially all of the Property of the Company.

 

5.                                       Optional
Redemption

 

Except as set
forth below, the Securities may not be redeemed at the option of the Company
prior to March 15, 2007.  On and
after that date, the Company may redeem all or any portion of the Securities at
once or over time, after giving the required notice under the Indenture. The
Securities may be redeemed at the redemption prices set forth below, plus
accrued and unpaid interest, if any, to the redemption date (subject to the
right of Holders of record on the relevant record date to receive interest due
on the relevant interest payment date). The following prices are for Securities
redeemed during the 12-month period commencing on March 15 of the years
set forth below, and are expressed as percentages of principal amount:

 

5

 

	
  Period

  	
   

  	
  Redemption

  Price

  	
   

  
	
  2007

  	
   

  	
  102.00

  	
  %

  
	
  2008

  	
   

  	
  101.00

  	
  %

  
	
  2009 and
  thereafter

  	
   

  	
  100.00

  	
  %

  

 

Notwithstanding
the foregoing, at any time and from time to time, prior to March 15, 2007,
the Company may redeem up to a maximum of 35% of the original aggregate
principal amount of the Securities (which includes any additional Securities)
with the proceeds from one or more Qualified Equity Offerings (provided that,
if the Qualified Equity Offering is an offering by any Parent, a portion of the
net cash proceeds thereof equal to the amount required to redeem any such
Securities is contributed to the equity capital of the Company or used to
acquire Capital Stock of the Company (other than Disqualified Stock) from the
Company), at a redemption price equal to 100% of the aggregate principal amount
so redeemed plus a premium equal to the interest rate per annum of the
Securities applicable on the date on which the notice of redemption is given thereof,
plus accrued and unpaid interest thereon, if any, to the redemption date
(subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date); provided, however, that after giving effect to any such
redemption, at least 65% of the original aggregate principal amount of the
Securities remains outstanding.  Any such
redemption shall be made within 90 days of such Qualified Equity Offering.

 

The Company
may choose to redeem all or any portion of the Securities, at once or over
time, prior to March 15, 2007.  If
it does so, it may redeem the Securities, after giving the required notice
under the Indenture.  To redeem the
Securities, the Company must pay a redemption price equal to the sum of:

 

(a)  100%
of the principal amount of the Securities to be redeemed, plus

 

(b)  the
Applicable Premium,

 

plus accrued
and unpaid interest, if any, to the redemption date (subject to the right of Holders
of record on the relevant record date to receive interest due on the relevant
interest payment date).

 

“Applicable
Premium” means, with respect to any Security at any time, the greater of (1) 1.0%
of the principal amount of such Security at such time and (2) the excess
of (A) the present value at such time of (i) the redemption price of
such Security at March 15, 2007 (such redemption price being described in
the table appearing in the first paragraph of this Paragraph (5) exclusive
of any accrued interest) plus (ii) any required interest payments due on
such Security through March 15, 2007 (including any accrued and unpaid
interest), such interest payments to be determined in accordance with the
Indenture assuming that LIBOR in effect on the date of such redemption notice
would be the applicable LIBOR in effect through March 15, 2007, computed
using a discount rate equal to the Treasury Rate plus 50 basis points, over (B) the
principal amount of such Security.

 

6

 

“Comparable
Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining
term of the Securities 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 such
Securities.  “Independent Investment
Banker” means one of the Reference Treasury Dealers appointed by the Trustee
after consultation with the Company.

 

“Comparable Treasury Price” means,
with respect to any redemption date:

 

(a) the average of the bid and asked prices for the Comparable Treasury
Issue (expressed in each case as a percentage of its principal amount) on the
third business day preceding such redemption date, as set forth in the most
recently published statistical release designated “H.15(519)” (or any successor
release) published by the Board of Governors of the Federal Reserve System and
which establishes yields on actively traded United States treasury securities
adjusted to constant maturity under the caption “Treasury Constant Maturities”
or

 

(b) if such release (or any successor release) is not published or does
not contain such prices on such business day, the average of the Reference
Treasury Dealer Quotations for such redemption date.

 

“Reference
Treasury Dealer” means Wachovia Capital Markets, LLC, Citigroup Global
Markets Inc. and J.P. Morgan Securities Inc. and their respective successors; provided, however, that if any of the foregoing shall
cease to be a primary U.S. Government securities dealer in New York City (a “Primary
Treasury Dealer”), the Company shall substitute therefor another Primary
Treasury Dealer.

 

“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.

 

“Treasury
Rate” means, with respect to any redemption date, the rate per annum equal
to the yield to maturity of the Comparable Treasury Issue, compounded
semi-annually, assuming a price for such Comparable Treasury Issue (expressed
as a percentage of its principal amount) equal to the Comparable Treasury Price
for such redemption date.

 

6.                                       Notice
of Optional Redemption

 

Notice of optional
redemption will be mailed by first-class mail at least 30 days but not more
than 60 days before the redemption date for an optional redemption to each
Holder of Securities to be redeemed at his or her registered address.  Any notice to holders of Securities of such a
redemption needs to include the appropriate calculation of

 

7

 

the redemption price, but does not need to include the redemption price
itself.  The actual redemption price,
calculated as described above, must be set forth in an Officers’ Certificate
delivered to the Trustee no later than two business days prior to the
redemption date.  Securities in
denominations larger than $1,000 may be redeemed in part but only in whole
multiples of $1,000.  If money sufficient
to pay the optional redemption price of and accrued interest on all Securities
(or portions thereof) to be redeemed on the redemption date for an optional
redemption is deposited with the Paying Agent on or before the redemption date for
an optional redemption and certain other conditions are satisfied, on and after
such date interest ceases to accrue on such Securities (or such portions
thereof) called for redemption.

 

7.                                       Sinking
Fund

 

The Securities
are not subject to any sinking fund.

 

8.                                       Repurchase
of Securities at the Option of Holders upon Change of Control

 

Upon a Change
of Control, any Holder of Securities will have the right, subject to certain
conditions specified in the Indenture, to cause the Company to repurchase all
or any part of the Securities of such Holder at a purchase price equal to 101%
of the principal amount of the Securities to be repurchased plus accrued and
unpaid interest, if any, to the date of purchase (subject to the right of
Holders of record on the relevant record date to receive interest due on the
relevant interest payment date) as provided in, and subject to the terms of,
the Indenture.

 

9.                                       Denominations;
Transfer; Exchange

 

The Securities
are in registered form without coupons in denominations of $1,000 and whole
multiples of $1,000.  A Holder may
transfer or exchange Securities in accordance with the Indenture.  Upon any transfer or exchange, the Registrar
and the Trustee may require a Holder, among other things, to furnish
appropriate endorsements or transfer documents and to pay any taxes required by
law or permitted by the Indenture.  The
Registrar need not register the transfer of or exchange any Securities selected
for redemption (except, in the case of a Security to be redeemed in part, the
portion of the Security not to be redeemed) or to transfer or exchange any
Securities for a period of 15 days prior to a selection of Securities to be
redeemed or 15 days before an interest payment date.

 

10.                                 Persons
Deemed Owners

 

The registered
Holder of this Security may be treated as the owner of it for all purposes.

 

11.                                 Unclaimed
Money

 

If money for
the payment of principal or interest remains unclaimed for two years, the
Trustee or Paying Agent shall pay the money back to the Company at its

 

8

 

written request unless an abandoned property law designates another
Person.  After any such payment, Holders
entitled to the money must look only to the Company and not to the Trustee for
payment.

 

12.                                 Discharge
and Defeasance

 

Subject to
certain conditions, the Company at any time may terminate some of or all its
obligations under the Securities and the Indenture if the Company deposits with
the Trustee money or U.S. Government Obligations for the payment of principal
and interest on the Securities to redemption or maturity, as the case may be.

 

13.                                 Amendment,
Waiver

 

Subject to
certain exceptions set forth in the Indenture, (i) the Indenture or the
Securities may be amended without prior notice to any Securityholder but with
the written consent of the Holders of at least a majority in aggregate
principal amount of the outstanding Securities and (ii) any default or
noncompliance with any provision may be waived with the written consent of the
Holders of at least a majority in principal amount of the outstanding
Securities.  Subject to certain
exceptions set forth in the Indenture, without the consent of any Holder of
Securities, the Company and the Trustee may amend the Indenture or the
Securities to (i) cure any ambiguity, omission, defect or inconsistency;
(ii) comply with Article V of the Indenture; (iii) provide for
uncertificated Securities in addition to or in place of certificated
Securities; provided, however, that
the uncertificated Securities are issued in registered form for purposes of Section 163(f)
of the Code or in a manner such that the uncertificated Securities are
described in Section 163(f)(2)(B) of the Code; (iv) add Guarantees
with respect to the Securities or to release Subsidiary Guarantors from
Subsidiary Guarantees as provided by the terms of the Indenture, (v) secure the
Securities; (vi) add to the covenants of the Company for the benefit of
the Holders or to surrender any right or power herein conferred upon the
Company; (vii) comply with any requirements of the SEC in connection with
qualifying, or maintaining the qualification of, the Indenture under the TIA;
(viii) make any change that does not adversely affect the rights of any
Securityholder; or (ix) provide for the issuance of additional Securities
in accordance with the Indenture.

 

14.                                 Defaults
and Remedies

 

If an Event of
Default occurs and is continuing, the Trustee or the Holders of at least 25% in
aggregate principal amount of the Securities then outstanding, subject to
certain limitations, may declare all the Securities to be immediately due and
payable.  Certain events of bankruptcy or
insolvency are Events of Default and shall result in the Securities being
immediately due and payable upon the occurrence of such Events of Default
without any further act of the Trustee or any Holder.

 

Holders of
Securities may not enforce the Indenture or the Securities except as provided
in the Indenture.  The Trustee may refuse
to enforce the Indenture or the Securities unless it receives reasonable
indemnity or security.  Subject to
certain limitations, Holders of a majority in aggregate principal amount of the
Securities then

 

9

 

outstanding may direct the Trustee in its exercise of any trust or
power under the Indenture.  The Holders
of a majority in aggregate principal amount of the Securities then outstanding,
by written notice to the Company and the Trustee, may rescind any declaration
of acceleration and its consequences if the rescission would not conflict with
any judgment or decree, and if all existing Events of Default have been cured or
waived except nonpayment of principal or interest that has become due solely
because of the acceleration.

 

15.                                 Trustee
Dealings with the Company

 

Subject to
certain limitations imposed by the TIA, the Trustee under the Indenture, in its
individual or any other capacity, may become the owner or pledgee of Securities
and may otherwise deal with and collect obligations owed to it by the Company
or its Affiliates and may otherwise deal with the Company or its Affiliates
with the same rights it would have if it were not Trustee.

 

16.                                 No
Recourse Against Others

 

A director,
officer, manager, employee, member, partner or stockholder, as such, of the
Company or any Subsidiary Guarantor shall not have any liability for any
obligations of the Company under the Securities or the Indenture or for any
claim based on, in respect of or by reason of such obligations or their
creation.  By accepting a Security, each
Securityholder waives and releases all such liability.  The waiver and release are part of the
consideration for the issue of the Securities.

 

17.                                 Authentication

 

This Security
shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the
other side of this Security.

 

18.                                 Abbreviations

 

Customary
abbreviations may be used in the name of a Securityholder or an assignee, such
as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN
(=joint tenants with rights of survivorship and not as tenants in common), CUST
(=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

 

19.                                 Governing
Law

 

THIS
SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK.

 

20.                                 CUSIP
Numbers

 

Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Company has caused CUSIP numbers to be printed on the
Securities and has directed the Trustee to use CUSIP numbers in notices of

 

10

 

redemption as a convenience to Securityholders.  No representation is made as to the accuracy
of such numbers either as printed on the Securities or as contained in any
notice of redemption and reliance may be placed only on the other
identification numbers placed thereon.

 

The
Company will furnish to any Holder of Securities upon written request and
without charge to the Holder a copy of the Indenture which has in it the text
of this Security.

 

11

 

ASSIGNMENT FORM

 

	
  To assign this Security, fill in the form
  below:

  
	
   

  
	
  I or we assign and transfer this Security
  to

  
	
   

  
	
  (Print or type assignee’s name, address and
  zip code)

  
	
   

  
	
   

  
	
  (Insert assignee’s soc. sec. or tax I.D.
  No.)

  
	
   

  
	
  and irrevocably appoint                    agent
  to transfer this Security on the books of the Company. The agent may
  substitute another to act for him.

  
	
   

  
	
   

  
	
   

  
	
  Date:

  	
   

  	
   

  	
  Your Signature:

  	
   

  	
   

  
	
   

  
	
   

  
	
  Sign exactly as your name appears on the
  other side of this Security.

  

 

In connection
with any transfer of any of the Securities evidenced by this certificate
occurring prior to the expiration of the period referred to in Rule 144(k)
under the Securities Act after the later of the date of original issuance of
such Securities and the last date, if any, on which such Securities were owned
by the Company or any Affiliate of the Company, the undersigned confirms that
such Securities are being transferred in accordance with its terms:

 

CHECK ONE BOX
BELOW

 

	
  (1)

  	
   

  	
  o

  	
   

  	
  to the Company; or

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (2)

  	
   

  	
  o

  	
   

  	
  pursuant to an effective registration
  statement under the Securities Act of 1933; or

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (3)

  	
   

  	
  o

  	
   

  	
  inside the United States to a “qualified
  institutional buyer” (as defined in Rule 144A under the Securities Act of
  1933) that purchases for its own account or for the account of a qualified institutional
  buyer to whom notice is given that such transfer is being made in reliance on
  Rule 144A, in each case pursuant to and in compliance with Rule 144A under
  the Securities Act of 1933; or

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (4)

  	
   

  	
  o

  	
   

  	
  outside the United States in an offshore
  transaction within the meaning of Regulation S under the Securities Act in
  compliance with Rule 904 under the Securities Act of 1933; or

  

 

12

 

	
  (5)

  	
   

  	
  o

  	
   

  	
  pursuant to the exemption from registration
  provided by Rule 144 under the Securities Act of 1933.

  

 

Unless one of
the boxes is checked, the Trustee will refuse to register any of the Securities
evidenced by this certificate in the name of any person other than the
registered holder thereof; provided,
however, that if box (5) is checked, the Trustee may require, prior to
registering any such transfer of the Securities, such legal opinions,
certifications and other information as the Company has reasonably requested to
confirm that such transfer is being made pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the Securities Act
of 1933.

 

	
   

  	
   

  	
   

  
	
   

  	
  Your Signature

  

 

Signature
Guarantee:

 

	
  Date:

  	
   

  	
   

  	
   

  	
   

  
	
  Signature must be guaranteed

  	
   

  
	
  by a participant in a

  	
   

  
	
  recognized signature guaranty

  	
   

  
	
  medallion program or other

  	
   

  
	
  signature guarantor acceptable

  	
   

  
	
  to the Trustee

  	
   

  

 

	
   

  

 

TO BE
COMPLETED BY PURCHASER IF (3) ABOVE IS CHECKED.

 

The
undersigned represents and warrants that it is purchasing this Security for its
own account or an account with respect to which it exercises sole investment
discretion and that it and any such account is a “qualified institutional buyer”
within the meaning of Rule 144A under the Securities Act of 1933, and is aware
that the sale to it is being made in reliance on Rule 144A and acknowledges
that it has received such information regarding the Company as the undersigned
has requested pursuant to Rule 144A or has determined not to request such
information and that it is aware that the transferor is relying upon the undersigned’s
foregoing representations in order to claim the exemption from registration
provided by Rule 144A.

 

	
  Dated:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  NOTICE: To be executed by

  
	
   

  	
  an executive officer

  

 

13

 

[TO BE ATTACHED TO
GLOBAL SECURITIES]

 

SCHEDULE OF
INCREASES OR DECREASES IN GLOBAL SECURITY

 

The initial
principal amount of this Global Security is $[         ].  The following increases or decreases in this
Global Security have been made:

 

	
  Date of

  Exchange

  	
   

  	
  Amount of decrease in

  Principal Amount of

  this Global Security

  	
   

  	
  Amount of increase in

  Principal Amount of

  this Global Security

  	
   

  	
  Principal amount of this

  Global Security

  following such decrease

  or increase

  	
   

  	
  Signature of authorized

  signatory of Trustee or

  Securities Custodian

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

14

 

OPTION OF HOLDER
TO ELECT PURCHASE

 

If you want to
elect to have this Security purchased by the Company pursuant to Section 4.06
(Asset Sale) or 4.13 (Change of Control) of the Indenture, check the box:  o

 

If you want to
elect to have only part of this Security purchased by the Company pursuant to Section 4.06
or 4.13 of the Indenture, state the amount:

 

$

 

	
  Date:

  	
   

  	
   

  	
  Your Signature:

  	
   

  	
   

  
	
  (Sign exactly as your name appears on the
  other side of the Security)

  
	
   

  	
   

  
	
  Signature Guarantee:

  	
   

  	
   

  
	
   

  	
  Signature must be guaranteed by a
  participant in a recognized

  
	
   

  	
  signature guaranty medallion program or
  other signature

  
	
   

  	
  guarantor acceptable to the Trustee.

  
								

 

15

 

EXHIBIT B

 

FORM OF FACE OF
SECURITY

 

	
  No.

  	
   

  	
  [up to]** $___________

  

 

Senior Floating Rate Note due 2015

 

	
   

  	
  CUSIP No.

  

 

US Oncology
Holdings, Inc., a Delaware corporation, promises to pay to [Cede & Co.]**,
or registered assigns, the principal sum [of                     Dollars]*
[as set forth on the Schedule of Increases or Decreases annexed hereto]**
on March 15, 2015.

 

Interest
Payment Dates: March 15 and September 15.

 

Record Dates: March 1
and September 1.

 

*  Insert for Definitive Securities

 

**Insert for
Global Securities

 

 

Additional
provisions of this Security are set forth on the other side of this Security.

 

IN WITNESS
WHEREOF, the parties have caused this instrument to be duly executed.

 

	
   

  	
  US ONCOLOGY HOLDINGS,

  INC.,

  
	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
  TRUSTEE’S CERTIFICATE OF

  	
   

  
	
   

  	
  AUTHENTICATION

  	
   

  
	
   

  	
   

  
	
  Dated:

  	
   

  
	
   

  	
   

  
	
  LASALLE BANK NATIONAL ASSOCIATION,

  	
   

  
	
   

  	
   

  
	
   

  	
  as Trustee, certifies

  	
   

  
	
   

  	
  that this is one of

  	
   

  
	
   

  	
  the Securities referred

  	
   

  
	
   

  	
  to in the Indenture.

  	
   

  
	
   

  	
   

  
	
  by:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Authorized Signatory

  	
   

  
										

 

 

*/ If the
Security is to be issued in global form, add the Global Securities Legend from
Exhibit 1 to Appendix A and the attachment from such Exhibit 1 captioned “TO BE
ATTACHED TO GLOBAL SECURITIES - SCHEDULE OF INCREASES OR DECREASES IN
GLOBAL SECURITY”.

 

2

 

FORM OF REVERSE SIDE OF SECURITY

 

Senior Floating Rate Note due 2015

 

1.                                       Interest.

 

US Oncology
Holdings, Inc., a Delaware corporation (such corporation, and its successors
and assigns under the Indenture hereinafter referred to, being herein called
the “Company”), promises to pay interest on the principal amount of this
Security at the rate per annum, reset semi-annually, equal to LIBOR plus 5 1/4%,
as determined by the calculation agent appointed by the Company (the “Calculation
Agent”), which shall initially be the Trustee. 
The Company will pay interest semiannually on March 15 and September 15
of each year, commencing September 15, 2005.  Interest on the Securities will accrue from
the most recent date to which interest has been paid or, if no interest has
been paid, from March 29, 2005.  The
amount of interest for each day that the Security is outstanding (the “Daily
Interest Amount”) will be calculated by dividing the interest rate in effect
for such day by 365 and multiplying the result by the principal amount of the
Security.  The amount of interest to be
paid on the Security for each Interest Period will be calculated by adding the
Daily Interest Amounts for each day in the Interest Period.  The Company shall pay interest on overdue
principal at the rate borne by the Securities plus 1.0% per annum, and it shall
pay interest on overdue installments of interest at the rate borne by the
Securities to the extent lawful.

 

All
percentages resulting from any calculations in connection with the
determination of interest on the Securities will be rounded, if necessary, to
the nearest one hundred thousandth of a percentage point, with five
one-millionths of a percentage point being rounded upwards (e.g., 9.876545% (or
..09876545) being rounded to 9.87655% (or .0987655)) and all dollar amounts used
in or resulting from such calculations will be rounded to the nearest cent
(with one-half cent being rounded upwards). 
The interest rate on the Security will in no event be higher than the
maximum rate permitted by New York law as the same may be modified by United
States law of general application.

 

The
Calculation Agent will, upon the request of the Holder of any Security, provide
the interest rate then in effect with respect to the Security.  All calculations made by the Calculation
Agent in the absence of manifest error will be conclusive for all purposes and
binding on the Company and the Holders of the Securities.

 

2.                                       Method
of Payment

 

The Company
will pay interest on the Securities (except defaulted interest) to the Persons
who are registered holders of Securities at the close of business on the March 1
or September 1 next preceding the interest payment date even if Securities
are canceled after the record date and on or before the interest payment
date.  Holders must surrender Securities
to a Paying Agent to collect principal payments.  The Company will pay principal and interest
in money of the United States of America that at the time of

 

3

 

payment is legal tender for payment of public and private debts.  Payments in respect of the Securities
represented by a Global Security (including principal, premium and interest) will
be made by wire transfer of immediately available funds to the accounts
specified by The Depository Trust Company. 
The Company will make all payments in respect of a Definitive Security
(including principal, premium and interest), by mailing a check to the
registered address of each Holder thereof; provided, however, that payments on the Securities will be made by wire
transfer to a U.S. dollar account maintained by the payee with a bank in the
United States if such Holder elects payment by wire transfer by giving written
notice to the Trustee or the Paying Agent to such effect designating such
account no later than 30 days immediately preceding the relevant due date for
payment (or such other date as the Trustee may accept in its discretion).

 

3.                                       Paying
Agent and Registrar

 

Initially, LaSalle
Bank National Association, a national banking association (the “Trustee”), will
act as Paying Agent and Registrar.  The
Company may appoint and change any Paying Agent or Registrar without
notice.  The Company or any of its
domestically incorporated Wholly Owned Subsidiaries may act as Paying Agent or
Registrar.

 

4.                                       Indenture

 

The Company
issued the Securities under an Indenture dated as of March 29, 2005 (the “Indenture”),
between the Company and the Trustee.  The
terms of the Securities include those stated in the Indenture and those made
part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S.C.
§§ 77aaa-77bbbb) as in effect on the date of the Indenture (the “TIA”).  Terms defined in the Indenture and not
defined herein have the meanings ascribed thereto in the Indenture.  The Securities are subject to all such terms,
and Securityholders are referred to the Indenture and the TIA for a statement
of those terms.

 

The Securities
are senior unsecured obligations of the Company.  This Security is one of the Exchange
Securities referred to in the Indenture issued in exchange for Initial
Securities.  The Securities include the
Exchange Securities, the Offered Securities in the aggregate principal amount
of $250,000,000 and an unlimited amount of additional Initial Securities.  The Exchange Securities, the Offered
Securities and such additional Initial Securities are treated as a single class
of securities under the Indenture.  The
Indenture imposes certain limitations on the ability of the Company and its
Restricted Subsidiaries to, among other things, make certain Investments and
other Restricted Payments, pay dividends and other distributions, incur Debt,
enter into consensual restrictions upon the payment of certain dividends and
distributions by such Restricted Subsidiaries, issue or sell shares of capital
stock of such Restricted Subsidiaries, enter into or permit certain
transactions with Affiliates, create or incur Liens, enter into or permit certain
Sale and Leaseback Transactions and make Asset Sales.  The Indenture also imposes limitations on the
ability of the Company to consolidate or merge with or into any other Person or
sell, transfer, assign, lease, convey or otherwise dispose of all or substantially
all of the Property of the Company.

 

4

 

5.                                       Optional
Redemption

 

Except as set
forth below, the Securities may not be redeemed at the option of the Company
prior to March 15, 2007.  On and
after that date, the Company may redeem all or any portion of the Securities at
once or over time, after giving the required notice under the Indenture.  The Securities may be redeemed at the
redemption prices set forth below, plus accrued and unpaid interest, if any, to
the redemption date (subject to the right of Holders of record on the relevant
record date to receive interest due on the relevant interest payment date).  The following prices are for Securities
redeemed during the 12-month period commencing on March 15 of the years
set forth below, and are expressed as percentages of principal amount:

 

	
  Period

  	
   

  	
  Redemption

  Price

  	
   

  
	
  2007

  	
   

  	
  102.00

  	
  %

  
	
  2008

  	
   

  	
  101.00

  	
  %

  
	
  2009 and
  thereafter

  	
   

  	
  100.00

  	
  %

  

 

Notwithstanding
the foregoing, at any time and from time to time, prior to March 15, 2007,
the Company may redeem up to a maximum of 35% of the original aggregate
principal amount of the Securities (which includes any additional Securities) with
the proceeds from one or more Qualified Equity Offerings (provided that, if the
Qualified Equity Offering is an offering by any Parent, a portion of the net cash
proceeds thereof equal to the amount required to redeem any such Securities is
contributed to the equity capital of the Company or used to acquire Capital
Stock of the Company (other than Disqualified Stock) from the Company), at a
redemption price equal to 100% of the aggregate principal amount so redeemed
plus a premium equal to the interest rate per annum of the Securities
applicable on the date on which the notice of redemption is given thereof, plus
accrued and unpaid interest thereon, if any, to the redemption date (subject to
the right of Holders of record on the relevant record date to receive interest
due on the relevant interest payment date); provided, however, that after giving effect to any such
redemption, at least 65% of the original aggregate principal amount of the
Securities remains outstanding.  Any such
redemption shall be made within 90 days of such Qualified Equity Offering.

 

The Company
may choose to redeem all or any portion of the Securities, at once or over
time, prior to March 15, 2007.  If
it does so, it may redeem the Securities, after giving the required notice
under the Indenture.  To redeem the
Securities, the Company must pay a redemption price equal to the sum of:

 

(a)  100%
of the principal amount of the Securities to be redeemed, plus

 

(b)  the
Applicable Premium,

 

5

 

plus accrued
and unpaid interest, if any, to the redemption date (subject to the right of Holders
of record on the relevant record date to receive interest due on the relevant
interest payment date).

 

“Applicable
Premium” means, with respect to any Security at any time, the greater of (1) 1.0%
of the principal amount of such Security at such time and (2) the excess
of (A) the present value at such time of (i) the redemption price of
such Security at March 15, 2007 (such redemption price being described in
the table appearing in the first paragraph of this paragraph (5) exclusive
of any accrued interest) plus (ii) any required interest payments due on
such Security through March 15, 2007 (including any accrued and unpaid
interest), such interest payments to be determined in accordance with the
Indenture assuming that LIBOR in effect on the date of such redemption notice
would be the applicable LIBOR in effect through March 15, 2007, computed
using a discount rate equal to the Treasury Rate plus 50 basis points, over (B) the
principal amount of such Security.

 

“Comparable
Treasury Issue” means the United States Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining
term of the Securities 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 such
Securities.  “Independent Investment
Banker” means one of the Reference Treasury Dealers appointed by the Trustee
after consultation with the Company.

 

“Comparable Treasury Price” means,
with respect to any redemption date:

 

(a) the average of the bid and asked prices for the Comparable Treasury
Issue (expressed in each case as a percentage of its principal amount) on the
third business day preceding such redemption date, as set forth in the most
recently published statistical release designated “H.15(519)” (or any successor
release) published by the Board of Governors of the Federal Reserve System and
which establishes yields on actively traded United States treasury securities
adjusted to constant maturity under the caption “Treasury Constant Maturities”
or

 

(b) if such release (or any successor release) is not published or does
not contain such prices on such business day, the average of the Reference Treasury
Dealer Quotations for such redemption date.

 

“Reference
Treasury Dealer” means Wachovia Capital Markets, LLC, Citigroup Global
Markets Inc. and J. P. Morgan Securities Inc. and their respective successors; provided, however, that if any of the foregoing shall
cease to be a primary U.S. Government securities dealer in New York City (a “Primary
Treasury Dealer”), the Company shall substitute therefor another Primary
Treasury Dealer.

 

“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

 

6

 

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.

 

“Treasury
Rate” means, with respect to any redemption date, the rate per annum equal
to the yield to maturity of the Comparable Treasury Issue, compounded
semi-annually, assuming a price for such Comparable Treasury Issue (expressed
as a percentage of its principal amount) equal to the Comparable Treasury Price
for such redemption date.

 

6.                                       Notice
of Optional Redemption

 

Notice of optional
redemption will be mailed by first-class mail at least 30 days but not more
than 60 days before the redemption date for an optional redemption to each
Holder of Securities to be redeemed at his or her registered address.  Any notice to holders of Securities of such a
redemption needs to include the appropriate calculation of the redemption
price, but does not need to include the redemption price itself.  The actual redemption price, calculated as
described above, must be set forth in an Officers’ Certificate delivered to the
Trustee no later than two business days prior to the redemption date.  Securities in denominations larger than
$1,000 may be redeemed in part but only in whole multiples of $1,000.  If money sufficient to pay the optional redemption
price of and accrued interest on all Securities (or portions thereof) to be
redeemed on the redemption date for an optional redemption is deposited with
the Paying Agent on or before the redemption date for an optional redemption and
certain other conditions are satisfied, on and after such date interest ceases
to accrue on such Securities (or such portions thereof) called for redemption.

 

7.                                       Sinking
Fund

 

The Securities
are not subject to any sinking fund.

 

8.                                       Repurchase
of Securities at the Option of Holders upon Change of Control

 

Upon a Change
of Control, any Holder of Securities will have the right, subject to certain
conditions specified in the Indenture, to cause the Company to repurchase all
or any part of the Securities of such Holder at a purchase price equal to 101%
of the principal amount of the Securities to be repurchased plus accrued and
unpaid interest, if any, to the date of purchase (subject to the right of
Holders of record on the relevant record date to receive interest due on the
relevant interest payment date) as provided in, and subject to the terms of,
the Indenture.

 

9.                                       Denominations;
Transfer; Exchange

 

The Securities
are in registered form without coupons in denominations of $1,000 and whole
multiples of $1,000.  A Holder may
transfer or exchange Securities in accordance with the Indenture.  Upon any transfer or exchange, the Registrar
and the Trustee may require a Holder, among other things, to furnish
appropriate endorsements or

 

7

 

transfer documents and to pay any taxes required by law or permitted by
the Indenture.  The Registrar need not
register the transfer of or exchange any Securities selected for redemption
(except, in the case of a Security to be redeemed in part, the portion of the
Security not to be redeemed) or to transfer or exchange any Securities for a
period of 15 days prior to a selection of Securities to be redeemed or 15 days
before an interest payment date.

 

10.                                 Persons
Deemed Owners

 

The registered
Holder of this Security may be treated as the owner of it for all purposes.

 

11.                                 Unclaimed
Money

 

If money for
the payment of principal or interest remains unclaimed for two years, the
Trustee or Paying Agent shall pay the money back to the Company at its written
request unless an abandoned property law designates another Person.  After any such payment, Holders entitled to
the money must look only to the Company and not to the Trustee for payment.

 

12.                                 Discharge
and Defeasance

 

Subject to
certain conditions, the Company at any time may terminate some of or all its
obligations under the Securities and the Indenture if the Company deposits with
the Trustee money or U.S. Government Obligations for the payment of principal
and interest on the Securities to redemption or maturity, as the case may be.

 

13.                                 Amendment,
Waiver

 

Subject to
certain exceptions set forth in the Indenture, (i) the Indenture or the
Securities may be amended without prior notice to any Securityholder but with
the written consent of the Holders of at least a majority in aggregate
principal amount of the outstanding Securities and (ii) any default or
noncompliance with any provision may be waived with the written consent of the
Holders of at least a majority in principal amount of the outstanding
Securities.  Subject to certain
exceptions set forth in the Indenture, without the consent of any Holder of
Securities, the Company and the Trustee may amend the Indenture or the
Securities to (i) cure any ambiguity, omission, defect or inconsistency;
(ii) comply with Article V of the Indenture; (iii) provide for
uncertificated Securities in addition to or in place of certificated
Securities; provided, however, that
the uncertificated Securities are issued in registered form for purposes of Section 163(f)
of the Code or in a manner such that the uncertificated Securities are
described in Section 163(f)(2)(B) of the Code; (iv) add Guarantees
with respect to the Securities or to release Subsidiary Guarantors from
Subsidiary Guarantees as provided by the terms of the Indenture, (v) secure the
Securities; (vi) add to the covenants of the Company for the benefit of
the Holders or to surrender any right or power herein conferred upon the
Company; (vii) comply with any requirements of the SEC in connection with
qualifying, or maintaining the qualification of, the Indenture under the TIA;
(viii) make any change

 

8

 

that does not adversely affect the rights of any Securityholder; or (ix) provide
for the issuance of additional Securities in accordance with the Indenture.

 

14.                                 Defaults
and Remedies

 

If an Event of
Default occurs and is continuing, the Trustee or the Holders of at least 25% in
aggregate principal amount of the Securities then outstanding, subject to
certain limitations, may declare all the Securities to be immediately due and
payable.  Certain events of bankruptcy or
insolvency are Events of Default and shall result in the Securities being
immediately due and payable upon the occurrence of such Events of Default
without any further act of the Trustee or any Holder.

 

Holders of
Securities may not enforce the Indenture or the Securities except as provided
in the Indenture.  The Trustee may refuse
to enforce the Indenture or the Securities unless it receives reasonable
indemnity or security.  Subject to
certain limitations, Holders of a majority in aggregate principal amount of the
Securities then outstanding may direct the Trustee in its exercise of any trust
or power under the Indenture.  The Holders
of a majority in aggregate principal amount of the Securities then outstanding,
by written notice to the Company and the Trustee, may rescind any declaration
of acceleration and its consequences if the rescission would not conflict with
any judgment or decree, and if all existing Events of Default have been cured
or waived except nonpayment of principal or interest that has become due solely
because of the acceleration.

 

15.                                 Trustee
Dealings with the Company

 

Subject to
certain limitations imposed by the TIA, the Trustee under the Indenture, in its
individual or any other capacity, may become the owner or pledgee of Securities
and may otherwise deal with and collect obligations owed to it by the Company
or its Affiliates and may otherwise deal with the Company or its Affiliates
with the same rights it would have if it were not Trustee.

 

16.                                 No
Recourse Against Others

 

A director,
officer, manager, employee, member, partner or stockholder, as such, of the
Company or any Subsidiary Guarantor shall not have any liability for any
obligations of the Company under the Securities or the Indenture or for any
claim based on, in respect of or by reason of such obligations or their
creation.  By accepting a Security, each
Securityholder waives and releases all such liability.  The waiver and release are part of the
consideration for the issue of the Securities.

 

17.                                 Authentication

 

This Security
shall not be valid until an authorized signatory of the Trustee (or an
authenticating agent) manually signs the certificate of authentication on the
other side of this Security.

 

9

 

18.                                 Abbreviations

 

Customary
abbreviations may be used in the name of a Securityholder or an assignee, such
as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN
(=joint tenants with rights of survivorship and not as tenants in common), CUST
(=custodian), and U/G/M/A (=Uniform Gift to Minors Act).

 

19.                                 Governing
Law

 

THIS
SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK.

 

20.                                 CUSIP
Numbers

 

Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Company has caused CUSIP numbers to be printed on the
Securities and has directed the Trustee to use CUSIP numbers in notices of
redemption as a convenience to Securityholders. 
No representation is made as to the accuracy of such numbers either as
printed on the Securities or as contained in any notice of redemption and
reliance may be placed only on the other identification numbers placed thereon.

 

The
Company will furnish to any Holder of Securities upon written request and
without charge to the Holder a copy of the Indenture which has in it the text
of this Security.

 

10

 

ASSIGNMENT FORM

 

	
  To assign this Security, fill in the form
  below:

  
	
   

  
	
  I or we assign and transfer this Security
  to

  
	
   

  
	
   

  
	
  (Print or type assignee’s name, address and
  zip code)

  
	
   

  
	
   

  
	
  (Insert assignee’s soc. sec. or tax I.D. No.)

  
	
   

  
	
  and irrevocably
  appoint                    agent
  to transfer this Security on the books of the Company. The agent may
  substitute another to act for him.

  
	
   

  
	
   

  
	
   

  
	
  Date:

  	
   

  	
   

  	
  Your Signature:

  	
   

  	
   

  
	
   

  
	
   

  
	
  Sign exactly as your name appears on the
  other side of this Security.  Signature
  must be guaranteed by a participant in a recognized signature guaranty
  medallion program or other signature guarantor acceptable to the Trustee.

  

 

11

 

OPTION OF HOLDER TO ELECT PURCHASE

 

If you want to
elect to have this Security purchased by the Company pursuant to Section 4.06
(Asset Sale) or 4.13 (Change of Control) of the Indenture, check the box:  o

 

If you want to
elect to have only part of this Security purchased by the Company pursuant to Section 4.06
or 4.13 of the Indenture, state the amount:

 

$

 

	
  Date:

  	
   

  	
   

  	
  Your Signature:

  	
   

  	
   

  
	
  (Sign exactly as your name appears on the
  other side of the Security)

  
	
   

  	
   

  
	
  Signature Guarantee:

  	
   

  	
   

  
	
   

  	
  Signature must be guaranteed by a
  participant in a

  
	
   

  	
  recognized signature guaranty medallion
  program or

  
	
   

  	
  other signature guarantor acceptable to the
  Trustee.

  
								

 

12

 

EXHIBIT B

 

FORM OF SUPPLEMENTAL INDENTURE

 

SUPPLEMENTAL
INDENTURE (this “Supplemental Indenture”) dated as of                     ,
among [GUARANTOR] (the “New Subsidiary Guarantor”), a subsidiary of US ONCOLOGY
HOLDINGS, INC. (or its successor), a Delaware corporation (the “Company”), [,
on behalf of itself and the Subsidiary Guarantors (the “Existing Subsidiary
Guarantors”) under the indenture referred to below,] and LASALLE BANK NATIONAL
ASSOCIATION, a national banking association, as trustee under the indenture
referred to below (the “Trustee”).

 

W I T N E S S E T H :

 

WHEREAS the
Company has heretofore executed and delivered to the Trustee an Indenture (the “Indenture”)
dated as of March 29, 2005, providing for the issuance of an aggregate
principal amount of an unlimited amount of Senior Floating Rate Notes due 2015
(the “Securities”);

 

WHEREAS Section 4.14
of the Indenture provides that under certain circumstances the Company is
required to cause the New Subsidiary Guarantor to execute and deliver to the
Trustee a supplemental indenture pursuant to which the New Subsidiary Guarantor
shall unconditionally guarantee all the Company’s obligations under the
Securities pursuant to a Subsidiary Guaranty on the terms and conditions set
forth herein; and

 

WHEREAS
pursuant to Section 9.01 of the Indenture, the Trustee, the Company and
the Existing Subsidiary Guarantors are authorized to execute and deliver this
Supplemental Indenture;

 

NOW THEREFORE,
in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the New Subsidiary
Guarantor, the Company, the Existing Subsidiary Guarantors and the Trustee
mutually covenant and agree for the equal and ratable benefit of the holders of
the Securities as follows:

 

1.  Agreement to Guarantee.  The New Subsidiary Guarantor hereby agrees,
jointly and severally with all other Subsidiary Guarantors, to unconditionally
guarantee the Company’s obligations under the Securities on the terms and
subject to the conditions set forth in Article X of the Indenture and to
be bound by all other applicable provisions of the Indenture.

 

2.  Ratification of Indenture; Supplemental
Indentures Part of Indenture.  Except
as expressly amended hereby, the Indenture is in all respects ratified and
confirmed and all the terms, conditions and provisions thereof shall remain in
full force and effect.  This Supplemental
Indenture shall form a part of the Indenture for all

 

 

purposes, and every holder of Securities heretofore or hereafter
authenticated and delivered shall be bound hereby.

 

3.  Governing Law.  THIS SUPPLEMENTAL
INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK.

 

4.  Trustee Makes No Representation.  The Trustee makes no representation as to the
validity or sufficiency of this Supplemental Indenture.

 

5.  Counterparts.  The parties may sign any number of copies of
this Supplemental Indenture.  Each signed
copy shall be an original, but all of them together represent the same
agreement.

 

6.  Effect of Headings.  The Section headings herein are for
convenience only and shall not effect the construction thereof.

 

2

 

IN WITNESS
WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written.

 

	
   

  	
  [NEW SUBSIDIARY GUARANTOR],

  
	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  US ONCOLOGY HOLDINGS, INC., [on

  behalf of itself and the existing subsidiary

  guarantors,]

  
	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [EXISTING SUBSIDIARY

  GUARANTORS],

  
	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LASALLE BANK NATIONAL

  ASSOCIATION, as trustee,

  
	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  

 

3Exhibit 4.3

 

EXECUTION COPY

 

US ONCOLOGY HOLDINGS, INC.

 

$250,000,000 Senior Unsecured Floating Rate Notes Due 2015 

 

Registration Rights Agreement

 

New York, New York

March 15, 2005

 

Wachovia Capital Markets,
LLC

J.P. Morgan Securities Inc.

Citigroup
Global Markets Inc.

As Representatives of the
Initial Purchasers

 

c/o
Wachovia Capital Markets, LLC 

12
East 49th Street, 33rd Floor, 

New
York, New York 10017

 

Ladies and Gentlemen:

 

US
Oncology Holdings, Inc., a corporation organized under the laws of Delaware
(the “Issuer”), which is the parent of US Oncology, Inc., a
corporation organized under the laws of Delaware, proposes to issue and sell to
certain purchasers (the “Initial Purchasers”), for whom you (the “Representatives”)
are acting as representatives, $250,000,000 principal amount of its Senior
Unsecured Floating Rate Notes Due 2015 (the “Securities”), upon the terms set
forth in the Purchase Agreement between the Issuer and the Representatives,
dated March 15, 2005 (the “Purchase Agreement”), relating to the initial
placement (the “Initial Placement”) of the Securities. To induce the Initial
Purchasers to enter into the Purchase Agreement and to satisfy a condition to
your obligations thereunder, the Issuer agrees with you for your benefit and
the benefit of the holders from time to time of the Securities (including the
Initial Purchasers) (each a “Holder” and, collectively, the “Holders”), as
follows:

 

1.             Definitions. Capitalized terms used herein without definition shall have their
respective meanings set forth in the Purchase Agreement. As used in this
Agreement, the following capitalized defined terms shall have the following
meanings:

 

“Act”
shall mean the Securities Act of 1933, as amended, and the rules and
regulations of the Commission promulgated thereunder.

 

“Affiliate”
shall have the meaning specified in Rule 405 under the Act and the terms “controlling”
and “controlled” shall have meanings correlative thereto.

 

“Broker-Dealer”
shall mean any broker or dealer registered as such under the Exchange Act.

 

 

“Business
Day” shall mean any day other than a Saturday, a Sunday or a legal holiday or a
day on which banking institutions or trust companies are authorized or
obligated by law to close in New York City.

 

“Closing
Date” shall mean the date of the first issuance of the Securities.

 

“Commission”
shall mean the Securities and Exchange Commission.

 

“Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission promulgated thereunder.

 

“Exchange
Offer Registration Period” shall mean the period following the consummation of
the Registered Exchange Offer and ending on the earlier of (i) the 90th
day following consummation of the Registered Exchange Offer or such longer
period if extended pursuant to Section 4(j) as a result of the occurrence
of any of the events set forth in Sections 4(b)(ii) through (v) hereof
and (ii) such time as no Exchanging Dealer holds Registrable Securities,
exclusive of any period during which any stop order shall be in effect
suspending the effectiveness of the Exchange Offer Registration Statement.

 

“Exchange
Offer Registration Statement” shall mean a registration statement of the Issuer
on an appropriate form under the Act with respect to the Registered Exchange
Offer, all amendments and supplements to such registration statement, including
post-effective amendments thereto, in each case including the Prospectus
contained therein, all exhibits thereto and all material incorporated by
reference therein.

 

“Exchanging
Dealer” shall mean any Holder (which may include any Initial Purchaser) that is
a Broker-Dealer and elects to exchange for New Securities any Securities that
it acquired for its own account as a result of market-making activities or
other trading activities (but not directly from the Issuer or any Affiliate of
the Issuer) for New Securities.

 

“Final
Memorandum” shall mean the offering memorandum, dated March 15, 2005,
relating to the Securities, including any and all exhibits thereto and any
information incorporated by reference therein as of such date.

 

“Holder”
shall have the meaning set forth in the preamble hereto.

 

“Indenture”
shall mean the Indenture relating to the Securities, dated as of the Closing
Date, between the Issuer and LaSalle Bank National Association, as trustee, as
the same may be amended from time to time in accordance with the terms thereof.

 

“Initial
Placement” shall have the meaning set forth in the preamble hereto.

 

“Initial
Purchaser” shall have the meaning set forth in the preamble hereto.

 

“Losses”
shall have the meaning set forth in Section 6(d) hereof.

 

“Majority
Holders” shall mean, on any date, Holders of a majority of the aggregate
principal amount of Securities registered under a Registration Statement.

 

2

 

“Managing
Underwriters” shall mean the investment banker or investment bankers and
manager or managers that administer an underwritten offering, if any, under a
Registration Statement.

 

“NASD
Rules” shall mean the Conduct Rules and the By-Laws of the National
Association of Securities Dealers, Inc.

 

“New
Securities” shall mean debt securities of the Issuer identical in all material
respects to the Securities (except that the transfer restrictions shall be
modified or eliminated, as appropriate).

 

“Prospectus”
shall mean the prospectus included in any Registration Statement (including,
without limitation, a prospectus that discloses information previously omitted
from a prospectus filed as part of an effective registration statement in
reliance upon Rule 430A under the Act), as amended or supplemented by any
prospectus supplement, with respect to the terms of the offering of any portion
of the Securities or the New Securities covered by such Registration Statement,
and all amendments and supplements thereto, including any and all exhibits
thereto and any information incorporated by reference therein.

 

“Purchase
Agreement” shall have the meaning set forth in the preamble hereto.

 

“Registered
Exchange Offer” shall mean the proposed offer of the Issuer to issue and
deliver to the Holders of the Securities that are not prohibited by any law or
policy of the Commission from participating in such offer, in exchange for the
Securities, a like aggregate principal amount of the New Securities.

 

“Registrable
Securities” shall mean (i) Securities other than those that have been (A) registered
under a Registration Statement and disposed of in accordance therewith, (B) are
eligible to be sold pursuant to Rule 144(k) or any successor rule or
regulation thereto that may be adopted by the Commission or (C) distributed
to the public pursuant to Rule 144 under the Act or any successor rule or
regulation thereto that may be adopted by the Commission and (ii) any New
Securities the resale of which by the Holder thereof requires compliance with
the prospectus delivery requirements of the Act.

 

“Registration
Default Damages” shall have the meaning set forth in Section 8 hereof.

 

“Registration
Statement” shall mean any Exchange Offer Registration Statement or Shelf
Registration Statement that covers any of the Securities or the New Securities
pursuant to the provisions of this Agreement, any amendments and supplements to
such registration statement, including post-effective amendments (in each case
including the Prospectus contained therein), all exhibits thereto and all
material incorporated by reference therein.

 

“Securities”
shall have the meaning set forth in the preamble hereto.

 

“Shelf
Registration” shall mean a registration effected pursuant to Section 3
hereof.

 

3

 

“Shelf
Registration Period” has the meaning set forth in Section 3(b) hereof.

 

“Shelf
Registration Statement” shall mean a “shelf” registration statement of the
Issuer pursuant to the provisions of Section 3 hereof which covers some or
all of the Securities or New Securities, as applicable, on an appropriate form
under Rule 415 under the Act, or any similar rule that may be adopted
by the Commission, amendments and supplements to such registration statement,
including post-effective amendments, in each case including the Prospectus
contained therein, all exhibits thereto and all material incorporated by
reference therein.

 

“Trustee”
shall mean the trustee with respect to the Securities and the New Securities
under the Indenture.

 

“Trust
Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, and the rules and
regulations of the Commission promulgated thereunder.

 

“underwriter”
shall mean any underwriter of Securities in connection with an offering thereof
under a Shelf Registration Statement.

 

2.             Registered Exchange Offer. (a) Unless not permitted by applicable
law, the Issuer shall prepare and, not later than 120 days following the
Closing Date, shall file with the Commission the Exchange Offer Registration
Statement with respect to the Registered Exchange Offer. The Issuer shall use
its reasonable best efforts to cause the Exchange Offer Registration Statement
to become effective under the Act within 210 days of the Closing Date.

 

(b)           Upon the effectiveness of the Exchange Offer
Registration Statement, the Issuer shall as soon as practicable commence the
Registered Exchange Offer, it being the objective of such Registered Exchange
Offer to enable each Holder electing to exchange Securities for New Securities
(assuming that such Holder is not an Affiliate of the Issuer, acquires the New
Securities in the ordinary course of such Holder’s business, has no arrangements
with any person to participate in the distribution of the New Securities and is
not prohibited by any law or policy of the Commission from participating in the
Registered Exchange Offer) to trade such New Securities from and after their
receipt without any limitations or restrictions under the Act and without
material restrictions under the securities laws of a substantial proportion of
the several states of the United States.

 

(c)           In connection with the Registered Exchange
Offer, the Issuer shall:

 

(i)            mail to each Holder a copy of the Prospectus
forming part of the Exchange Offer Registration Statement, together with an
appropriate letter of transmittal and related documents; provided, that
the Issuer shall only be required to mail such Prospectus to Holders of which
the Issuer is aware after due inquiry;

 

(ii)           keep the Registered Exchange Offer open for not less than 30 days and
not more than 45 days after the date notice thereof is mailed to the Holders
(or, in each case, longer if required by applicable law);

 

4

 

(iii)          use its reasonable best efforts to keep the Exchange Offer Registration
Statement continuously effective under the Act, supplemented and amended as
required, under the Act to ensure that it is available for sales of New
Securities by Exchanging Dealers during the Exchange Offer Registration Period;

 

(iv)          utilize the services of a depositary for the Registered Exchange Offer
with an address in the Borough of Manhattan in New York City, which may be the
Trustee or an Affiliate of the Trustee;

 

(v)           permit Holders to withdraw tendered Securities at any time prior to the
close of business, New York time, on the last Business Day on which the
Registered Exchange Offer is open;

 

(vi)          prior to effectiveness of the Exchange Offer Registration Statement,
provide a supplemental letter to the Commission (A) stating that the
Issuer is conducting the Registered Exchange Offer in reliance on the position
of the Commission in Exxon Capital Holdings Corporation (pub. avail. May 13,
1988), and Morgan Stanley and Co., Inc. (pub. avail. June 5,
1991); and (B) including a representation that the Issuer has not entered
into any arrangement or understanding with any person to distribute the New
Securities to be received in the Registered Exchange Offer and that, to the
best of the Issuer’s information and belief, each Holder participating in the
Registered Exchange Offer is acquiring the New Securities in the ordinary
course of business and has no arrangement or understanding with any person to
participate in the distribution of the New Securities; and

 

(vii)         comply in all material respects with all applicable laws.

 

(d)           As soon as practicable after the close of the
Registered Exchange Offer, the Issuer shall:

 

(i)            accept for exchange all Securities tendered
and not validly withdrawn pursuant to the Registered Exchange Offer;

 

(ii)           deliver to the Trustee for cancellation in accordance with Section 4(r)
all Securities so accepted for exchange; and

 

(iii)          cause the Trustee as soon as practicable to authenticate and deliver to
each Holder of Securities a principal amount of New Securities equal to the
principal amount of the Securities of such Holder so accepted for exchange.

 

(e)           Each Holder hereby acknowledges and agrees
that any Broker-Dealer and any such Holder using the Registered Exchange Offer
to participate in a distribution of the New Securities (x) could not under
Commission policy as in effect on the date of this Agreement rely on the
position of the Commission in Exxon Capital Holdings Corporation (pub.
avail. May 13, 1988) and Morgan Stanley and Co., Inc. (pub.
avail. June 5, 1991), as interpreted in the Commission’s letter to
Shearman & Sterling dated July 2, 1993 and similar no-action
letters; and (y) must comply with the registration and prospectus delivery
requirements of the Act in

 

5

 

connection with any
secondary resale transaction, which must be covered by an effective
registration statement containing the selling security holder information
required by Item 507 or 508, as applicable, of Regulation S-K under the Act if
the resales are of New Securities obtained by such Holder in exchange for
Securities acquired by such Holder directly from the Issuer or one of its
Affiliates. Accordingly, each Holder participating in the Registered Exchange
Offer shall be required to represent to the Issuer that, at the time of the
consummation of the Registered Exchange Offer:

 

(i)            any New Securities received by such Holder
will be acquired in the ordinary course of business;

 

(ii)           such Holder will have no arrangement or understanding with any person
to participate in the distribution of the Securities or the New Securities
within the meaning of the Act; and

 

(iii)          such Holder is not an Affiliate of the Issuer.

 

(f)            If any Initial Purchaser determines that it
is not eligible to participate in the Registered Exchange Offer with respect to
the exchange of Securities constituting any portion of an unsold allotment, at
the request of such Initial Purchaser, the Issuer shall issue and deliver to
such Initial Purchaser (exclusively for resale under a Shelf Registration
Statement) or the person purchasing New Securities registered under a Shelf
Registration Statement as contemplated by Section 3 hereof from such
Initial Purchaser, in exchange for such Securities, a like principal amount of
New Securities. The Issuer shall use its reasonable best efforts to cause the
CUSIP Service Bureau to issue the same CUSIP number for such New Securities as
for New Securities issued pursuant to the Registered Exchange Offer.

 

3.             Shelf Registration. (a) If (i) due to any change in
law or applicable interpretations thereof by the Commission’s staff, the Issuer
determines that it is not permitted to effect the Registered Exchange Offer as
contemplated by Section 2 hereof; (ii) for any other reason the
Registered Exchange Offer is not consummated within 240 days of the Closing
Date; (iii) any Initial Purchaser so requests with respect to Securities
that are not eligible to be exchanged for New Securities in the Registered
Exchange Offer and that are held by it following consummation of the Registered
Exchange Offer; (iv) any Holder (other than an Initial Purchaser) is not
eligible to participate in the Registered Exchange Offer other than by reason
of such Holder being an affiliate of the Issuer (it being understood that the
requirement that an Exchanging Dealer deliver the prospectus contained in the
Exchange Offer Registration Statement in connection with the sale of New
Securities shall not result in such New Securities being not “freely tradeable”);
or (v) in the case of any Initial Purchaser that participates in the
Registered Exchange Offer, such Initial Purchaser does not receive freely
tradeable New Securities in exchange for Securities constituting any portion of
an unsold allotment (it being understood that (x) the requirement that an
Initial Purchaser deliver a Prospectus containing the information required by
Item 507 or 508 of Regulation S-K under the Act in connection with sales of New
Securities acquired in exchange for such Securities shall result in such New
Securities being not “freely tradeable”; and (y) the requirement that an
Exchanging Dealer deliver a Prospectus in connection with sales of New
Securities acquired in the Registered Exchange Offer in exchange for Securities
acquired as a result of market-making activities or

 

6

 

other trading activities
shall not result in such New Securities being not “freely tradeable”), the
Issuer shall effect a Shelf Registration Statement in accordance with subsection (b) below.

 

(b) (i) The
Issuer shall as promptly as practicable (but in no event (i) if the
Exchange Offer Registration Statement is not permitted to be filed by
applicable law, more than 120 days following the Closing Date and (ii) in
any other circumstance in which a Shelf Registration Statement is required to
be filed, more than 90 days after so required or requested pursuant to this Section 3),
file with the Commission and thereafter use its reasonable best efforts to
cause to be declared effective under the Act (i) if the Exchange Offer
Registration Statement is not declared effective by the SEC within 210 days of
the Closing Date, within 210 days after the Closing Date, (ii) if the
Registered Exchange Offer is not consummated within 240 days of the Closing
Date, within 240 days of the Closing Date or (iii) in any other
circumstance in which a Shelf Registration Statement is required to be filed,
within 180 days after so required or, requested, a Shelf Registration Statement
relating to the offer and sale of the Securities or the New Securities, as
applicable, by the Holders thereof from time to time in accordance with the
methods of distribution elected by such Holders and set forth in such Shelf
Registration Statement; provided, however, that no Holder (other
than an Initial Purchaser) shall be entitled to have the Securities held by it
covered by such Shelf Registration Statement unless such Holder agrees in
writing to be bound by all of the provisions of this Agreement applicable to
such Holder (with the Initial Purchasers’ agreement thereto being evidenced by
their execution of this Agreement); and provided further, that with respect to
New Securities received by an Initial Purchaser in exchange for Securities constituting
any portion of an unsold allotment, the Issuer may, if permitted by current
interpretations by the Commission’s staff, file a post-effective amendment to
the Exchange Offer Registration Statement containing the information required
by Item 507 or 508 of Regulation S-K, as applicable, in satisfaction of its
obligations under this subsection with respect thereto, and any such
Exchange Offer Registration Statement, as so amended, shall be referred to
herein as, and governed by the provisions herein applicable to, a Shelf
Registration Statement.

 

(ii)           Subject to Section 4(j), the Issuer shall use its best efforts to
keep the Shelf Registration Statement continuously effective, supplemented and
amended as required by the Act, in order to permit the Prospectus forming part
thereof to be usable by Holders for a period (the “Shelf Registration Period”)
from the date the Shelf Registration Statement is declared effective by the
Commission until the earlier of (A) the second anniversary thereof, (B) the
date upon which all the Securities or New Securities, as applicable, covered by
the Shelf Registration Statement have been sold pursuant to the Shelf
Registration Statement or (C) the date upon which all the Securities or
New Securities are no longer restricted securities (as defined in Rule 144
under the Act). The Issuer shall be deemed not to have used its best efforts to
keep the Shelf Registration Statement effective during the Shelf Registration
Period if it voluntarily takes any action that would result in Holders of
Securities covered thereby not being able to offer and sell such Securities at
any time during the Shelf Registration Period, unless such action is (x)
required by applicable law or otherwise undertaken by the Issuer in good faith
and for valid business reasons (not including avoidance of the Issuer’s
obligations hereunder), including the acquisition or divestiture of assets, and
(y) permitted pursuant to Section 4(j)(ii) hereof.

 

7

 

(iii)          The Issuer shall cause the Shelf Registration Statement and the related
Prospectus and any amendment or supplement thereto, as of the effective date of
the Shelf Registration Statement or such amendment or supplement, (A) to
comply in all material respects with the applicable requirements of the Act;
and (B) not to contain any untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary in order to
make the statements therein (in the case of the Prospectus, in the light of the
circumstances under which they were made) not misleading; it being understood
that the Issuer shall not be so responsible for information provided by or on
behalf of Holders.

 

4.             Additional Registration Procedures. In connection with any Shelf Registration
Statement and, to the extent applicable, any Exchange Offer Registration
Statement, the following provisions shall apply.

 

(a)           The Issuer shall:

 

(i)            furnish, in each case if requested in
writing, to each of the Representatives and to counsel for the Representatives,
in the case of an Exchange Offer Registration Statement, and to counsel for the
Holders of Registrable Securities, in the case of a Shelf Registration
Statement, not less than five Business Days prior to the filing thereof with the
Commission, a copy of any Exchange Offer Registration Statement and any Shelf
Registration Statement, as applicable, and each amendment thereof and each
amendment or supplement, if any, to the Prospectus included therein (including
all documents incorporated by reference therein after the initial filing) and
shall use its reasonable best efforts to reflect in each such document, when so
filed with the Commission, such comments as the Representatives reasonably
propose;

 

(ii)           include the information set forth in Annex A hereto on the facing page of
the Exchange Offer Registration Statement, in Annex B hereto in the forepart of
the Exchange Offer Registration Statement in a section setting forth
details of the Exchange Offer, in Annex C hereto in the underwriting or plan of
distribution section of the Prospectus contained in the Exchange Offer
Registration Statement, and in Annex D hereto in the letter of transmittal
delivered pursuant to the Registered Exchange Offer;

 

(iii)          if requested by an Initial Purchaser, include the information required
by Item 507 or 508 of Regulation S-K, as applicable, in the Prospectus
contained in the Exchange Offer Registration Statement; and

 

(iv)          in the case of a Shelf Registration Statement, include the names of the
Holders that propose to sell Securities pursuant to the Shelf Registration
Statement as selling security holders.

 

(b)           The Issuer shall advise the Representatives,
the Holders of Securities covered by any Shelf Registration Statement (but only
to such Holders as are named as selling security holders in the prospectus
forming part of such Shelf Registration Statement) and any

 

8

 

Exchanging Dealer under any
Exchange Offer Registration Statement that has provided in writing to the
Issuer a telephone or facsimile number and address for notices, and, if
requested by any Representative or any such Holder or Exchanging Dealer, shall
confirm such advice in writing (which notice pursuant to clauses (ii)-(v) hereof
shall be accompanied by an instruction to suspend the use of the Prospectus
until the Issuer shall have remedied the basis for such suspension) or the
Issuer decides to resume the use of the Prospectus, as the case may be:

 

(i)            when a Registration Statement and any amendment
thereto has been filed with the Commission and when the Registration Statement
or any post-effective amendment thereto has become effective;

 

(ii)           of any request by the Commission for any amendment or supplement to the
Registration Statement or the Prospectus or for additional information;

 

(iii)          of the issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement or the institution or threatening
of any proceeding for that purpose;

 

(iv)          of the receipt by the Issuer of any notification with respect to the
suspension of the qualification of the securities included therein for sale in
any jurisdiction or the institution or threatening of any proceeding for such
purpose; and

 

(v)           unless notice has been provided pursuant to Section 4(j)(ii) hereto,
of the happening of any event that requires any change in the Registration
Statement or the Prospectus so that, as of such date, they (A) do not
contain any untrue statement of a material fact and (B) do not omit to state
a material fact required to be stated therein or necessary to make the
statements therein (in the case of the Prospectus, in the light of the
circumstances under which they were made) not misleading.

 

(c)           The Issuer shall use its reasonable best
efforts to prevent the issuance of any order suspending the effectiveness of
any Registration Statement or the qualification of the securities therein for
sale in any jurisdiction and, if issued, to obtain as soon as practicable the withdrawal
thereof.

 

(d)           The Issuer shall furnish to each Holder of
Securities covered by any Shelf Registration Statement, without charge, at
least one copy of such Shelf Registration Statement and any post-effective
amendment thereto, including all material incorporated therein by reference,
and, if the Holder so requests in writing, all exhibits thereto (including
exhibits incorporated by reference therein).

 

(e)           The Issuer shall, during the Shelf
Registration Period, deliver to each Holder of Securities covered by any Shelf
Registration Statement, without charge, as many copies of the Prospectus
(including the Preliminary Prospectus) included in such Shelf Registration
Statement and any amendment or supplement thereto as such Holder may reasonably
request in writing. The Issuer consents, subject to the provisions of this
Agreement,

 

9

 

to the use of the Prospectus
or any amendment or supplement thereto by each of the selling Holders of
Securities in connection with the offering and sale of the Securities covered
by the Prospectus, or any amendment or supplement thereto, included in the
Shelf Registration Statement.

 

(f)            The Issuer shall furnish to each Exchanging
Dealer which so requests, without charge, at least one copy of the Exchange
Offer Registration Statement and any post-effective amendment thereto,
including all material incorporated by reference therein, and, if the Exchanging
Dealer so requests in writing, all exhibits thereto (including exhibits
incorporated by reference therein).

 

(g)           The Issuer shall promptly deliver to each
Initial Purchaser; each Exchanging Dealer and each other person required to
deliver a Prospectus during the Exchange Offer Registration Period, without
charge, as many copies of the Prospectus included in such Exchange Offer
Registration Statement and any amendment or supplement thereto as any such
person may reasonably request in writing. The Issuer consents, subject to the
provisions of this Agreement, to the use of the Prospectus or any amendment or supplement
thereto by any Initial Purchaser, any Exchanging Dealer and any such other
person that may be required to deliver a Prospectus following the Registered
Exchange Offer in connection with the offering and sale of the New Securities
covered by the Prospectus, or any amendment or supplement thereto, included in
the Exchange Offer Registration Statement.

 

(h)           Prior to the Registered Exchange Offer or any
other offering of Securities pursuant to any Registration Statement, the Issuer
shall use its reasonable best efforts to arrange, if necessary, for the
qualification of the Securities or the New Securities for sale under the laws
of such jurisdictions as any Holder shall reasonably request and shall maintain
such qualification in effect so long as required; provided that in no event
shall the Issuer be obligated to qualify to do business in any jurisdiction
where it is not then so qualified or to take any action that would subject it
to service of process in suits or to taxation, other than those arising out of
the Initial Placement, the Registered Exchange Offer or any offering pursuant
to a Shelf Registration Statement, in any such jurisdiction where it is not
then so subject.

 

(i)            The Issuer shall cooperate with the Holders
of Securities to facilitate the timely preparation and delivery of certificates
representing New Securities or Securities to be issued or sold pursuant to any
Registration Statement free of any restrictive legends and in such
denominations and registered in such names as Holders may request a reasonable
period of time prior to sales of Securities pursuant to such Registration
Statement.

 

(j)            (i)            Upon the occurrence of any event contemplated
by subsections (b)(ii) through (v) above, the Issuer shall promptly
(or within the time period provided for by clause (ii) hereof, if
applicable) prepare a post-effective amendment to the applicable Registration
Statement or an amendment or supplement to the related Prospectus or file any
other required document so that, as thereafter delivered to the purchasers of
the Securities included therein, the Prospectus will not include an untrue
statement of a material fact or omit to state any material fact required to be
stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading. In such
circumstances, the period of effectiveness of the Exchange Offer

 

10

 

Registration
Statement provided for in Section 2 shall be extended by the number of
days from and including the date of the giving of a notice of suspension
pursuant to Section 4(b) or this Section to and including the
date when the Initial Purchasers, the Holders of the Securities and any known
Exchanging Dealer shall have received such amended or supplemented Prospectus
pursuant to this Section.

 

(ii)           Upon the occurrence or existence of any pending corporate development
or any other material event that, in the reasonable judgment of the Issuer,
makes it appropriate to suspend the availability of a Shelf Registration
Statement and the related Prospectus, the Issuer shall give notice (without
notice of the nature or details of such events) to the Holders (but only to
such Holders as are named as selling security holders in the prospectus forming
part of such Shelf Registration Statement) that the availability of such Shelf
Registration is suspended and, upon actual receipt of any such notice, each
such Holder agrees not to sell any Registrable Securities pursuant to the Shelf
Registration until such Holder’s receipt of copies of the supplemented or
amended Prospectus, or until it is advised in writing by the Issuer that the
Prospectus may be used, and has received copies of any additional or
supplemental filings that are incorporated or deemed incorporated by reference
in such Prospectus. The period during which the availability of the Shelf
Registration and any Prospectus is suspended shall not exceed 45 days in any
three-month period or 90 days in any twelve-month period.

 

(k)           Not later than the effective date of any
Registration Statement, the Issuer shall provide a CUSIP number for the
Securities or the New Securities, as the case may be, registered under such
Registration Statement and provide the Trustee with printed certificates for
such Securities or New Securities, in a form eligible for deposit with The
Depository Trust Issuer.

 

(1)           The Issuer shall comply with all applicable rules and
regulations of the Commission and shall make generally available to its
security holders an earnings statement satisfying the provisions of Section 11(a) of
the Act as soon as practicable after the effective date of the applicable
Registration Statement and in any event no later than 45 days after the end of
a 12-month period (or 90 days, if such period is a fiscal year) beginning with
the first month of the Issuer’s first fiscal quarter commencing after the
effective date of the applicable Registration Statement.

 

(m)          The Issuer shall cause the Indenture to be
qualified under the Trust Indenture Act in a timely manner.

 

(n)           The Issuer may require each Holder of
securities to be sold pursuant to any Shelf Registration Statement to furnish
to the Issuer such information regarding the Holder and the distribution of
such securities as the Issuer may from time to time reasonably require for
inclusion in such Registrawtion Statement. The Issuer may exclude from such
Shelf Registration Statement the Securities of any Holder that fails to furnish
such information within a reasonable time after receiving such request.

 

11

 

(o)           In the case of any Shelf Registration
Statement, the Issuer shall enter into customary agreements (including, if
requested, an underwriting agreement in customary form) and take all other appropriate
actions, if any, as the Holders of a majority of the Securities to be included
in the Shelf Registration Statement shall reasonably request in order to
facilitate the disposition of the Securities.

 

(p)           In the case of any Shelf Registration Statement,
the Issuer shall:

 

(i)            make reasonably available for inspection by
the Holders of Securities to be registered thereunder, any underwriter
participating in any disposition pursuant to such Registration Statement, and
any attorney, accountant or other agent retained by the Holders or any such
underwriter all relevant financial and other records and pertinent corporate
documents of the Issuer and its subsidiaries;

 

(ii)           cause the Issuer’s officers, directors, employees, accountants and
auditors to supply all relevant information reasonably requested by the Holders
or any such underwriter, attorney, accountant or agent in connection with any
such Registration Statement as is customary for similar due diligence
examinations provided, however, that the foregoing inspection and
information gathering shall be coordinated on behalf of the Initial Purchasers
by you and on behalf of the other parties, by one counsel designated by and on
behalf of such other parties as described in Section 5 hereof (all such
information shall be kept confidential by the recipients pursuant to a
customary confidentiality agreement to be executed by such recipients prior to
receiving such information);

 

(iii)          make such representations and warranties to the Holders of Securities
registered thereunder and the underwriters, if any, in form, substance and
scope as are customarily made by issuers to underwriters in primary
underwritten offerings and covering matters including, but not limited to,
those set forth in the Purchase Agreement;

 

(iv)          obtain opinions of counsel to the Issuer and updates thereof (which
counsel and opinions (in form, scope and substance) shall be reasonably
satisfactory to the Managing Underwriters, if any) addressed to each selling
Holder and the underwriters, if any, covering such matters as are customarily
covered in opinions requested in underwritten offerings and such other matters
as may be reasonably requested by such Holders and underwriters;

 

(v)           obtain “comfort” letters and updates thereof from the independent
certified public accountants of the Issuer (and, if necessary, any other
independent certified public accountants of any subsidiary of the Issuer or of
any business acquired by the Issuer for which financial statements and
financial data are, or are required to be, included in the Registration
Statement), addressed to each selling Holder of Securities registered
thereunder and the underwriters, if any, in customary form and covering matters
of the type customarily covered in “comfort” letters in connection with primary
underwritten offerings; and

 

12

 

(vi)          deliver such documents and certificates as may be reasonably requested
by the Majority Holders or the Managing Underwriters, if any, including those
to evidence compliance with Section 4(j) and with any customary conditions
contained in the underwriting agreement or other agreement entered into by the
Issuer.

 

The actions set forth in
clauses (iii), (iv), (v) and (vi) of this paragraph (p) shall be
performed at (A) the effectiveness of such Registration Statement and each
post-effective amendment thereto; and (B) each closing under any
underwriting or similar agreement as and to the extent required thereunder.

 

(q)           In the case of any Exchange Offer Registration
Statement, the Issuer shall, if requested by an Initial Purchaser, or by a
broker dealer that holds Securities that were acquired as a result of market
making or other trading activities:

 

(i)            make reasonably available for inspection by
the requesting party, and any attorney, accountant or other agent retained by
the requesting party, all relevant financial and other records, pertinent
corporate documents and properties of the Issuer and its subsidiaries;

 

(ii)           cause the Issuer’s officers, directors, employees, accountants and
auditors to supply all relevant information reasonably requested by the
requesting party or any such attorney, accountant or agent in connection with
any such Registration Statement as is customary for similar due diligence examinations;

 

(iii)          make such representations and warranties to the requesting party, in
form, substance and scope as are customarily made by issuers to underwriters in
primary underwritten offerings and covering matters including, but not limited
to, those set forth in the Purchase Agreement;

 

(iv)          obtain opinions of counsel to the Issuer and updates thereof (which
counsel and opinions (in form, scope and substance) shall be reasonably
satisfactory to the requesting party and its counsel, addressed to the requesting
party, covering such matters as are customarily covered in opinions requested
in underwritten offerings and such other matters as may be reasonably requested
by the requesting party or its counsel;

 

(v)           obtain “comfort” letters and updates thereof from the independent
certified public accountants of the Issuer (and, if necessary, any other
independent certified public accountants of any subsidiary of the Issuer or of
any business acquired by the Issuer for which financial statements and
financial data are, or are required to be, included in the Registration
Statement), addressed to the requesting party, in customary form and covering
matters of the type customarily covered in “comfort” letters in connection with
primary underwritten offerings, or if requested by the requesting party or its
counsel in lieu of a “comfort” letter, an agreed-upon procedures letter under
Statement on Auditing Standards No. 35, covering matters requested by the
requesting party or its counsel; and

 

13

 

(vi)          deliver such documents and certificates as may be reasonably requested
by the requesting party or its counsel, including those to evidence compliance
with Section 4(j) and with conditions customarily contained in
underwriting agreements.

 

The foregoing actions set
forth in clauses (iii), (iv), (v), and (vi) of this Section shall be
performed at the close of the Registered Exchange Offer and the effective date
of any post-effective amendment to the Exchange Offer Registration Statement.

 

(r)            If a Registered Exchange Offer is to be
consummated, upon delivery of the Securities by Holders to the Issuer (or to
such other person as directed by the Issuer) in exchange for the New
Securities, the Issuer shall mark, or caused to be marked, on the Securities so
exchanged that such Securities are being cancelled in exchange for the New
Securities. In no event shall the Securities be marked as paid or otherwise
satisfied.

 

(s)           The Issuer shall use its reasonable best
efforts if the Securities have been rated prior to the initial sale of such
Securities, to confirm such ratings will apply to the Securities or the New
Securities, as the case may be, covered by a Registration Statement.

 

(t)            In the event that any Broker-Dealer shall
underwrite any Securities or participate as a member of an underwriting
syndicate or selling group or “assist in the distribution” (within the meaning
of the NASD Rules) thereof, whether as a Holder of such Securities or as an
underwriter, a placement or sales agent or a broker or dealer in respect
thereof, or otherwise, the Issuer shall assist such Broker-Dealer in complying
with the NASD Rules.

 

(u)           The Issuer shall use its reasonable best
efforts to take all other steps necessary to effect the registration of the Securities
or the New Securities, as the case may be, covered by a Registration Statement.

 

5.             Registration Expenses. The Issuer shall bear all expenses incurred
in connection with the performance of its obligations under Sections 2, 3 and 4
hereof (other than any underwriters discounts or commissions) and, in the event
of any Shelf Registration Statement, will reimburse the Holders for the
reasonable fees and disbursements of one firm or counsel (which shall initially
be Cravath, Swaine & Moore LLP, but which may be another nationally
recognized law firm experienced in securities matters designated by the
Majority Holders) to act as counsel for the Holders in connection therewith,
and, in the case of any Exchange Offer Registration Statement, will reimburse
the Initial Purchasers for the reasonable fees and disbursements of counsel
acting in connection therewith.

 

6.             Indemnification and Contribution. (a) The Issuer agrees to indemnify and
hold harmless each Holder of Securities or New Securities, as the case may be,
covered by any Registration Statement, each Initial Purchaser and, with respect
to any Prospectus delivery as contemplated in Section 4(g) hereof,
each Exchanging Dealer, the directors, officers, employees, Affiliates and
agents of each such Holder, Initial Purchaser or Exchanging Dealer and each person
who controls any such Holder, Initial Purchaser or Exchanging Dealer within the
meaning of either the Act or the Exchange Act against any and all losses,
claims, damages or liabilities,

 

14

 

joint or several, to which
they or any of them may become subject under the Act, the Exchange Act or other
federal or state statutory law or regulation, at common law or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon any untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement as
originally filed or in any amendment thereof, or in any preliminary Prospectus
or the Prospectus, or in any amendment thereof or supplement thereto, or arise
out of or are based upon the omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein (in the case of any preliminary Prospectus or the Prospectus, in the
light of the circumstances under which they were made) not misleading, and
agrees to reimburse each such indemnified party, as incurred, for any legal or
other expenses reasonably incurred by it in connection with investigating or
defending any such loss, claim, damage, liability or action; provided, however,
that the Issuer will not be liable in any such case to the extent that any such
loss, claim, damage or liability arises out of or is based upon any such untrue
statement or alleged untrue statement or omission or alleged omission made
therein in reliance upon and in conformity with written information furnished
to the Issuer by or on behalf of the party claiming indemnification specifically
for inclusion therein. This indemnity agreement shall be in addition to any
liability that the Issuer may otherwise have.

 

The
Issuer also agrees to indemnify as provided in this Section 6(a) or
contribute as provided in Section 6(d) hereof to Losses of each
underwriter, if any, of Securities or New Securities, as the case may be,
registered under a Shelf Registration Statement, their directors, officers,
employees, Affiliates or agents and each person who controls such underwriter
on substantially the same basis as that of the indemnification of the Initial
Purchasers and the selling Holders provided in this Section 6(a) and
shall, if requested by any Holder, enter into an underwriting agreement
reflecting such agreement, as provided in Section 4(o) hereof.

 

(b)           Each Holder of Securities covered by a
Registration Statement (including each Initial Purchaser that is a Holder, in
such capacity) severally and not jointly agrees to indemnify and hold harmless
the Issuer, each of its directors, each of its officers who signs such Registration
Statement and each person who controls the Issuer within the meaning of either
the Act or the Exchange Act, to the same extent as the foregoing indemnity from
the Issuer to each such Holder, but only with reference to written information
relating to such Holder furnished to the Issuer by or on behalf of such Holder
specifically for inclusion in the documents referred to in the foregoing
indemnity; and, subject to the forgoing clause, shall reimburse, as incurred,
the Issuer for any legal or other expenses reasonably incurred by the Issuer or
any such controlling person in connection with investigation or defending any
loss, claim, damage, liability or action in respect thereof. This indemnity
agreement will be in addition to any liability that any such Holder may
otherwise have.

 

(c)           Promptly after receipt by an indemnified
party under this Section 6 or notice of the commencement of any action,
such indemnified party will, if a claim in respect thereof is to be made against
the indemnifying party under this Section, notify the indemnifying party in
writing of the commencement thereof; but the failure so to notify the
indemnifying party (i) will not relieve it from liability under paragraph (a) or
(b) above unless and to the extent it did not otherwise learn of such
action and such failure results in the forfeiture by the indemnifying party of
substantial rights and defenses; and (ii) will not, in any event, relieve
the indemnifying party from any obligations to any indemnified party other than
the indemnification obligation

 

15

 

provided in paragraph (a) or
(b) above. The indemnifying party shall be entitled to appoint counsel
(including local counsel) of the indemnifying party’s choice at the
indemnifying party’s expense to represent the indemnified party in any action
for which indemnification is sought (in which case the indemnifying party shall
not thereafter be responsible for the fees and expenses of any separate
counsel, other than local counsel if not appointed by the indemnifying party,
retained by the indemnified party or parties except as set forth below); provided,
however, that such counsel shall be reasonably satisfactory to the
indemnified party. Notwithstanding the indemnifying party’s election to appoint
counsel (including local counsel) to represent the indemnified party in an
action, the indemnified party shall have the right to employ separate counsel
(including local counsel), and the indemnifying party shall bear the reasonable
fees, costs and expenses of such separate counsel if (i) the use of
counsel chosen by the indemnifying party to represent the indemnified party
would present such counsel with a conflict of interest; (ii) the actual or
potential defendants in, or targets of, any such action include both the
indemnified party and the indemnifying party and the indemnified party shall
have reasonably concluded that there may be legal defenses available to it
and/or other indemnified parties that are different from or additional to those
available to the indemnifying party; (iii) the indemnifying party shall
not have employed counsel satisfactory to the indemnified party to represent
the indemnified party within a reasonable time after notice of the institution
of such action; or (iv) the indemnifying party shall authorize the
indemnified party to employ separate counsel at the expense of the indemnifying
party. An indemnifying party will not, without the prior written consent of the
indemnified parties (such consent not to be unreasonably withheld or delayed),
settle or compromise or consent to the entry of any judgment with respect to
any pending or threatened claim, action, suit or proceeding in respect of which
indemnification or contribution may be sought hereunder (whether or not the
indemnified parties are actual or potential parties to such claim or action)
unless such settlement, compromise or consent includes an unconditional release
of each indemnified party from all liability arising out of such claim, action,
suit or proceeding. The Issuer shall not be liable under this Section for
any settlement or compromise or consent to the entry of judgment of any claim,
action, suit or proceeding effected without its prior written consent, which
consent shall not be reasonably withheld.

 

(d)           In the event that the indemnity provided in
paragraph (a) or (b) of this Section is unavailable to or
insufficient to hold harmless an indemnified party for any reason for the
losses, claims, damages or liabilities referred to therein, then each
applicable indemnifying party shall have a joint and several obligation to
contribute to the aggregate losses, claims, damages and liabilities (including
legal or other expenses reasonably incurred in connection with investigating or
defending any loss, claim, liability, damage or action) (collectively “Losses”)
to which such indemnified party may be subject in such proportion as is
appropriate to reflect the relative benefits received by such indemnifying
party, on the one hand, and such indemnified party, on the other hand, from the
Initial Placement and the Registration Statement which resulted in such Losses;
provided, however, that in no case shall any Initial Purchaser be
responsible, in the aggregate, for any amount in excess of the purchase
discount or commission applicable to such Security, or in the case of a New
Security, applicable to the Security that was exchangeable into such New
Security, as set forth in the Purchase Agreement, nor shall any underwriter be
responsible for any amount in excess of the underwriting discount or commission
applicable to the securities purchased by such underwriter under the
Registration Statement which resulted in such Losses. If the allocation
provided by the immediately preceding sentence is unavailable for any reason,
the indemnifying party and the indemnified party shall contribute

 

16

 

in such proportion as is
appropriate to reflect not only such relative benefits but also the relative
fault of such indemnifying party, on the one hand, and such indemnified party, on the other hand, in connection with
the statements or omissions which resulted in such Losses as well as any other
relevant equitable considerations. Benefits received by the Issuer shall be
deemed to be equal to the total net proceeds from the Initial Placement (before
deducting expenses) as set forth in the Final Memorandum. Benefits received by
the Initial Purchasers shall be deemed to be equal to the total purchase
discounts and commissions as set forth in the Purchase Agreement, and benefits
received by any other Holders shall be deemed to be equal to the value of
receiving Securities or New Securities, as applicable, registered under the
Act. Benefits received by any underwriter shall be deemed to be equal to the
total underwriting discounts and commissions, as set forth on the cover page of
the Prospectus forming a part of the Registration Statement which resulted in
such Losses. Relative fault shall be determined by reference to, among other
things, whether any untrue or any alleged untrue statement of a material fact
or omission or alleged omission to state a material fact relates to information
provided by the indemnifying party, on the one hand, or by the indemnified
party, on the other hand, the intent of the parties and their relative
knowledge, access to information and opportunity to correct or prevent such
untrue statement or omission. The parties agree that it would not be just and
equitable if contribution were determined by pro rata allocation (even if the
Holders were treated as one entity for such purpose) or any other method of
allocation which does not take account of the equitable considerations referred
to above. Notwithstanding the provisions of this paragraph (d), no person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Act) shall be entitled to contribution from any person who was not guilty
of such fraudulent misrepresentation. For purposes of this Section, each person
who controls a Holder within the meaning of either the Act or the Exchange Act
and each director, officer, employee and agent of such Holder shall have the
same rights to contribution as such Holder, and each person who controls the
Issuer within the meaning of either the Act or the Exchange Act, each officer,
director, employee, Affiliate and agent of the Issuer who shall have signed the
Registration Statement and each director of the Issuer shall have the same
rights to contribution as the Issuer, subject in each case to the applicable
terms and conditions of this paragraph (d).

 

(e)           The provisions of this Section will
remain in full force and effect, regardless of any investigation made by or on
behalf of any Holder or the Issuer or any of the indemnified persons referred
to in this Section 6, and will survive the sale by a Holder of securities
covered by a Registration Statement.

 

7.             Underwritten Registrations. (a) If any of the Securities or New
Securities, as the case may be, covered by any Shelf Registration Statement are
to be sold in an underwritten offering, the Managing Underwriters shall be
selected by the Majority Holders and shall be reasonably acceptable to the
Issuer.

 

(b)           No person may participate in any underwritten
offering pursuant to any Shelf Registration Statement, unless such person (i) agrees
to sell such person’s Securities or New Securities, as the case may be, on the
basis reasonably provided in any underwriting arrangements approved by the
persons entitled hereunder to approve such arrangements; and (ii) completes
and executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such
underwriting arrangements.

 

17

 

8.             Registration Defaults. If any of the following events shall occur,
then the Issuer shall pay liquidated damages (the “Registration Default Damages”)
to the Holders of the applicable Security in respect of the applicable Security
as follows:

 

(a)           if any Registration Statement required by
this Agreement is not filed with the Commission on or prior to the date
specified for such filing in this Agreement, then Registration Default Damages
shall accrue on the Registrable Securities at a rate of 0.25% per annum for the
first 90 days from and including such specified date and will increase by 0.25%
per annum at the end of each subsequent 90-day period, but in no event shall
such rate exceed 1.00% per annum; or

 

(b)           if any Registration Statement required by
this Agreement is not declared effective by the Commission on or prior to the
date by which reasonable best efforts are to be used to cause such
effectiveness under this Agreement, then commencing on the day after such specified
date, Registration Default Damages shall accrue on the Registrable Securities
at a rate of 0.25% per annum for the first 90 days from and including such
specified date; such rate will increase by 0.25% per annum at the end of each
subsequent 90-day period; but in no event shall such rate exceed 1.00% per
annum; or

 

(c)           if any Registration Statement required by
this Agreement has been declared effective but ceases to be effective at any
time at which it is required to be effective under this Agreement, then
commencing on the day the Registration Statement ceases to be effective,
Registration Default Damages shall accrue on the Registrable Securities at a
rate of 0.25% per annum for the first 90 days from and including such date on
which the Registration Statement ceases to be effective; such rate will
increase by 0.25% per annum at the end of each subsequent 90-day period, but in
no event shall such rate exceed 1.00% per annum; or

 

(d)           if the Registered Exchange Offer has not been
consummated within 240 days of the Closing Date, then Registration Default
Damages shall accrue on the Registrable Securities at a rate of 0.25% per annum
for the first 90 days from and including such specified date and will increase
by 0.25% per annum at the end of each subsequent 90-day period, but in no event
shall such rate exceed 1.00% per annum;

 

provided, however, that (1) upon the
filing of the Registration Statement (in the case of paragraph (a) above),
(2) upon the effectiveness of the Registration Statement (in the case of
paragraph (b) above), (3) upon the effectiveness of the Registration
Statement which had ceased to remain effective (in the case of paragraph (c) above),
or (4) upon the consummation of the Registered Exchange Offer (in the case
of paragraph (d) above), Registration Default Damages shall cease to
accrue. Notwithstanding any provision herein to the contrary, Registration
Default Damages shall not accrue on any Security that is no longer a
Registrable Security, nor shall the amount of Registration Default Damages
increase because more than one of the circumstances described in Section 8(a)-(d) has
occurred and is pending.

 

9.             No Inconsistent Agreements. The Issuer has not entered into, and agrees
not to enter into, any agreement with respect to its securities that is
inconsistent with the rights granted to the Holders herein or that otherwise
conflicts with the provisions hereof.

 

18

 

10.           Amendments and Waivers. The provisions of this Agreement may not be
amended, qualified, modified or supplemented, and waivers or consents to
departures from the provisions hereof may not be given, unless the Issuer has
obtained the written consent of the Holders of a majority of the aggregate
principal amount of the Registrable Securities outstanding; provided
that, with respect to any matter that directly or indirectly affects the rights
of any Initial Purchaser hereunder, the Issuer shall obtain the written consent
of each such Initial Purchaser against which such amendment, qualification,
supplement, waiver or consent is to be effective; provided, further,
that no amendment, qualification, supplement, waiver or consent with respect to
Section 8 hereof shall be effective as against any Holder of Registrable
Securities unless consented to in writing by such Holder; and provided, further,
that the provisions of this Article 10 may not be amended, qualified,
modified or supplemented, and waivers or consents to departures from the
provisions hereof may not be given, unless the Issuer has obtained the written
consent of the Initial Purchasers and each Holder. Notwithstanding the
foregoing (except the foregoing provisos), a waiver or consent to departure
from the provisions hereof with respect to a matter that relates exclusively to
the rights of Holders whose Securities or New Securities, as the case may be,
are being sold pursuant to a Registration Statement and that does not directly
or indirectly affect the rights of other Holders may be given by the Majority
Holders, determined on the basis of Securities or New Securities, as the case
may be, being sold rather than registered under such Registration Statement.

 

11.           Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, first-class mail, telex, telecopier
or air courier guaranteeing overnight delivery:

 

(a)           if to a Holder, at the most current address
given by such holder to the Issuer in accordance with the provisions of this Section 11,
which address initially is, with respect to each Holder, the address of such
Holder maintained by the Registrar under the Indenture;

 

(b)           if to the Representatives, initially at the
address or addresses set forth in the Purchase Agreement; and

 

(c)           if to the Issuer, initially at its address
set forth in the Purchase Agreement.

 

All
such notices and communications shall be deemed to have been duly given when
received.

 

The
Initial Purchasers or the Issuer by notice to the other parties may designate
additional or different addresses for subsequent notices or communications.

 

12.           Remedies. Each Holder, in addition to being entitled to exercise all rights provided
to it herein, in the Indenture or in the Purchase Agreement or granted by law,
including recovery of liquidated or other damages, will be entitled to specific
performance of its rights under this Agreement. The Issuer agrees that monetary
damages would not be adequate compensation for any loss incurred by reason of a
breach by it of the provisions of this Agreement and hereby agrees to waive in
any action for specific performance the defense that a remedy at law would be
adequate. Notwithstanding the foregoing, the Registration Default

 

19

 

Damages are intended to
constitute the sole monetary damages that a Holder may collect as a result of
the occurrence of any of the conditions described in Sections 8(a) – (d) and
any obligations that result in any such condition.

 

13.           Successors. This Agreement shall inure to the benefit of and be binding upon the
parties hereto, their respective successors and assigns, including, without the
need for an express assignment or any consent by the Issuer thereto, subsequent
Holders of Securities and the New Securities, and the indemnified persons
referred to in Section 6 hereof. The Issuer hereby agrees to extend the
benefits of this Agreement to any Holder of Securities and the New Securities,
and any such Holder may specifically enforce the provisions of this Agreement
as if an original party hereto.

 

14.           Counterparts. This Agreement may be signed in one or more
counterparts, each of which shall constitute an original and all of which
together shall constitute one and the same agreement.

 

15.           Headings. The section headings used herein are for convenience only and shall
not affect the construction hereof.

 

16.           Applicable Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York applicable to
contracts made and to be performed in the State of New York. The parties hereto
each hereby waive any right to trial by jury in any action, proceeding or
counterclaim arising out of or relating to this Agreement.

 

17.           Severability. In the event that any one of more of the
provisions contained herein, or the application thereof in any circumstances,
is held invalid, illegal or unenforceable in any respect for any reason, the
validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions hereof shall not be in any way impaired
or affected thereby, it being intended that all of the rights and privileges of
the parties shall be enforceable to the fullest extent permitted by law.

 

18.           Securities Held by the Issuer, etc. Whenever the consent or approval of Holders
of a specified percentage of principal amount of Securities or New Securities
is required hereunder, Securities or New Securities, as applicable, held by the
Issuer or its Affiliates (other than subsequent Holders of Securities or New
Securities if such subsequent Holders are deemed to be Affiliates solely by
reason of their holdings of such Securities or New Securities) shall not be
counted in determining whether such consent or approval was given by the
Holders of such required percentage.

 

20

 

If
the foregoing is in accordance with your understanding of our agreement, please
sign and return to us the enclosed duplicate hereof, whereupon this letter and
your acceptance shall represent a binding agreement between the Issuer and the
several Initial Purchasers.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  US ONCOLOGY HOLDINGS,
  INC.,

  
	
   

  	
   

  
	
   

  	
  By 

  	
    /s/
  R. Dale Ross

  
	
   

  	
   

  	
    Name:
  R. Dale Ross

  
	
   

  	
   

  	
    Title:
  President

  
					

 

 

[Registration
Rights Agreement]

 

 

The foregoing Agreement is
hereby confirmed and accepted as of the date first above written.

 

Wachovia Capital Markets,
LLC 

J.P. Morgan Securities Inc.

Citigroup Global Markets
Inc.

 

 

By:
WACHOVIA CAPITAL MARKETS, LLC

 

 

	
  by

  	
  /s/ David Gillespie

  	
   

  
	
   

  	
  Name: David Gillespie

  
	
   

  	
  Title: Managing Director

  

 

For themselves and the other
several Initial Purchasers named in Schedule I to the Purchase Agreement.

 

 

ANNEX A

 

Each
broker-dealer that receives new securities for its own account pursuant to the
Exchange Offer must acknowledge that it will deliver a prospectus in connection
with any resale of such new securities. The Letter of Transmittal states that
by so acknowledging and by delivering a prospectus, a broker-dealer will not be
deemed to admit that it is an “underwriter” within the meaning of the Act. This
prospectus, as it may be amended or supplemented from time to time, may be used
by a broker-dealer in connection with resales of new securities received in
exchange for securities where such securities were acquired by such broker-dealer
as a result of market-making activities or other trading activities. The
company has agreed that, starting on the expiration date and ending on the
close of business one year after the expiration date, it will make this
prospectus available to any broker-dealer for use in connection with any such
resale. See “Plan of Distribution”.

 

 

ANNEX B

 

Each
broker-dealer that receives new securities for its own account in exchange for
securities, where such securities were acquired by such broker-dealer as a
result of market-making activities or other trading activities, must
acknowledge that it will deliver a prospectus in connection with any resale of
such new securities. See “Plan of Distribution”.

 

 

ANNEX C

 

PLAN OF DISTRIBUTION

 

Each
broker-dealer that receives new securities for its own account pursuant to the
Exchange Offer must acknowledge that it will deliver a prospectus in connection
with any resale of such new securities. This prospectus, as it may be amended
or supplemented from time to time, may be used by a broker-dealer in connection
with resales of new securities received in exchange for securities where such
securities were acquired as a result of market-making activities or other
trading activities. The company has agreed that, starting on the expiration
date and ending on the close of business one year after the expiration date, it
will make this prospectus, as amended or supplemented, available to any
broker-dealer for use in connection with any such resale. In addition, until                ,         ,
all dealers effecting transactions in the new securities may be required to
deliver a prospectus.

 

The
company will not receive any proceeds from any sale of new securities by
brokers-dealers. New securities received by broker-dealers for their own
account pursuant to the Exchange Offer may be sold from time to time in one or
more transactions in the over-the-counter market, in negotiated transactions,
through the writing of options on the new securities or a combination of such
methods of resale, at market prices prevailing at the time of resale, at prices
related to such prevailing market prices or negotiated prices. Any such resale
may be made directly to purchasers or to or through brokers or dealers who may
receive compensation in the form of commissions or concessions from any such
broker-dealer and/or the purchasers of any such new securities. Any
broker-dealer that resells new securities that were received by it for its own
account pursuant to the Exchange Offer and any broker or dealer that
participates in a distribution of such new securities may be deemed to be an “underwriter”
within the meaning of the Act and any profit of any such resale of new
securities and any commissions or concessions received by any such persons may
be deemed to be underwriting compensation under the Act. The Letter of
Transmittal states that by acknowledging that it will deliver and by delivering
a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter”
within the meaning of the Act.

 

For
a period of one year after the expiration date, the company will promptly send
additional copies of this prospectus and any amendment or supplement to this
prospectus to any broker-dealer that requests such documents in the Letter of
Transmittal. The company has agreed to pay all expenses incident to the
Exchange Offer (including the expenses of one counsel for the holder of the
securities) other than commissions or concessions of any brokers or dealers and
will indemnify the holders of the securities (including any broker-dealers)
against certain liabilities, including liabilities under the Act.

 

[If
applicable, add information required by Regulation S-K Items 507 and/or 508.]

 

 

ANNEX D

 

Rider
A

 

PLEASE
FILL IN YOUR NAME AND ADDRESS BELOW IF YOU ARE A BROKER-DEALER AND WISH TO
RECEIVE 10 ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS
OR SUPPLEMENTS THERETO.

 

	
  Name:

  	
   

  	
   

  
	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

Rider
B

 

If the undersigned is not a
Broker-Dealer, the undersigned represents that it acquired the New Securities
in the ordinary course of its business, it is not engaged in, and does not
intend to engage in, a distribution of New Securities and it has no
arrangements or understandings with any person to participate in a distribution
of the New Securities. If the undersigned is a Broker-Dealer that will receive
New Securities for its own account in exchange for Securities, it represents
that the Securities to be exchange for New Securities were acquired by it as a
result of market-making activities or other trading activities and acknowledges
that it will deliver a prospectus in connection with any resale of such New
Securities; however, by so acknowledging and by delivering a prospectus, the
undersigned will not be deemed to admit that it is an “underwriter” within the
meaning of the Act.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00088-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00088-of-00352.parquet"}]]