Document:

EXHIBIT 4.6

 

INTERLINE BRANDS, INC.

A DELAWARE CORPORATION

 

AND

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

 

TRUSTEE

 

FORM OF SUBORDINATED DEBT INDENTURE

 

GUARANTEED TO THE EXTENT SET FORTH HEREIN

BY THE GUARANTORS NAMED HEREIN

 

DATED AS OF              ,
20   

 

 

INTERLINE BRANDS, INC.

 

Reconciliation and tie between Trust Indenture Act of 1939

and Indenture, dated as of
                            ,
20

 

	
  TRUST INDENTURE ACT SECTION

  	
   

  	
  INDENTURE SECTION

  
	
   

  	
   

  	
   

  
	
  310(a)

  	
  (1)

  	
   

  	
   

  	
  6.09

  
	
  (a)

  	
  (2)

  	
   

  	
   

  	
  6.09

  
	
  (a)

  	
  (3)

  	
   

  	
   

  	
  Not
  Applicable

  
	
  (a)

  	
  (4)

  	
   

  	
   

  	
  Not
  Applicable

  
	
  (b)

  	
   

  	
   

  	
   

  	
  6.08,
  6.10

  
	
  311(a)

  	
   

  	
   

  	
   

  	
  6.13

  
	
  (b)

  	
   

  	
   

  	
   

  	
  6.13

  
	
  (b)

  	
  (2)

  	
   

  	
   

  	
  7.03(a),
  7.03(b)

  
	
  312(a)

  	
   

  	
   

  	
   

  	
  7.01,
  7.02(a)

  
	
  (b)

  	
   

  	
   

  	
   

  	
  7.02(b)

  
	
  (c)

  	
   

  	
   

  	
   

  	
  7.02(c)

  
	
  313(a)

  	
   

  	
   

  	
   

  	
  7.03(a)

  
	
  (b)

  	
   

  	
   

  	
   

  	
  7.03(a)

  
	
  (c)

  	
   

  	
   

  	
   

  	
  7.03(a),
  7.03(b)

  
	
  (d)

  	
   

  	
   

  	
   

  	
  7.03(b)

  
	
  314(a)

  	
   

  	
   

  	
   

  	
  7.04

  
	
  (b)

  	
   

  	
   

  	
   

  	
  Not
  Applicable

  
	
  (c)

  	
  (1)

  	
   

  	
   

  	
  1.02

  
	
  (c)

  	
  (2)

  	
   

  	
   

  	
  1.02

  
	
  (c)

  	
  (3)

  	
   

  	
   

  	
  Not
  Applicable

  
	
  (d)

  	
   

  	
   

  	
   

  	
  Not
  Applicable

  
	
  (e)

  	
   

  	
   

  	
   

  	
  1.02

  
	
  315(a)

  	
   

  	
   

  	
   

  	
  6.01(a)

  
	
  (b)

  	
   

  	
   

  	
   

  	
  6.02,
  7.03(a)

  
	
  (c)

  	
   

  	
   

  	
   

  	
  6.01(b)

  
	
  (d)

  	
   

  	
   

  	
   

  	
  6.01(c)

  
	
  (d)

  	
  (1)

  	
   

  	
   

  	
  6.01(a),
  6.01(c)

  
	
  (d)

  	
  (2)

  	
   

  	
   

  	
  6.01(c)

  
	
  (d)

  	
  (3)

  	
   

  	
   

  	
  6.01(c)

  
	
  (e)

  	
   

  	
   

  	
   

  	
  5.14

  
	
  316(a)

  	
  (1)(A)

  	
   

  	
   

  	
  5.12

  
	
  (a)

  	
  (1)(B)

  	
   

  	
   

  	
  5.02,
  5.13

  
	
  (a)

  	
  (2)

  	
   

  	
   

  	
  Not
  Applicable

  
	
  (b)

  	
   

  	
   

  	
   

  	
  5.08

  
	
  (c)

  	
   

  	
   

  	
   

  	
  1.04(e)

  
	
  317(a)

  	
  (1)

  	
   

  	
   

  	
  5.03

  
	
  (a)

  	
  (2)

  	
   

  	
   

  	
  5.04

  
	
  (b)

  	
   

  	
   

  	
   

  	
  10.05

  
	
  318(a)

  	
   

  	
   

  	
   

  	
  1.07

  

 

i

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  
	
  ARTICLE 1 DEFINITIONS AND OTHER PROVISIONS OF GENERAL
  APPLICATION

  	
  1

  
	
   

  	
   

  
	
  Section 1.01

  	
  Definitions

  	
  1

  
	
  Section 1.02

  	
  Compliance Certificates and Opinions

  	
  5

  
	
  Section 1.03

  	
  Form of Documents Delivered to Trustee

  	
  5

  
	
  Section 1.04

  	
  Acts of Holders

  	
  6

  
	
  Section 1.05

  	
  Notices, Etc.,

  	
  6

  
	
  Section 1.06

  	
  Notice to Holders; Waiver

  	
  7

  
	
  Section 1.07

  	
  Conflict with Trust Indenture Act

  	
  7

  
	
  Section 1.08

  	
  Effect of Headings and Table of Contents

  	
  7

  
	
  Section 1.09

  	
  Successors and Assigns

  	
  7

  
	
  Section 1.10

  	
  Separability Clause

  	
  7

  
	
  Section 1.11

  	
  Benefits of Indenture

  	
  7

  
	
  Section 1.12

  	
  Governing Law

  	
  7

  
	
  Section 1.13

  	
  Legal Holidays

  	
  7

  
	
  Section 1.14

  	
  No Recourse Against Others

  	
  7

  
	
  Section 1.15

  	
  Judgment Currency

  	
  8

  
	
  Section 1.16

  	
  Counterparts

  	
  8

  
	
   

  	
   

  	
   

  
	
  ARTICLE 2 SECURITY FORMS

  	
  8

  
	
   

  	
   

  	
   

  
	
  Section 2.01

  	
  Forms Generally

  	
  8

  
	
  Section 2.02

  	
  Form of Face of Security

  	
  8

  
	
  Section 2.03

  	
  Form of Reverse of Security

  	
  9

  
	
  Section 2.04

  	
  Form of Trustee’s Certificate of Authentication

  	
  12

  
	
  Section 2.05

  	
  Securities in Global Form

  	
  12

  
	
  Section 2.06

  	
  Form of Legend for the Securities in Global Form

  	
  13

  
	
   

  	
   

  	
   

  
	
  ARTICLE 3 THE SECURITIES

  	
  13

  
	
   

  	
   

  	
   

  
	
  Section 3.01

  	
  Amount Unlimited; Issuable in Series

  	
  13

  
	
  Section 3.02

  	
  Denominations

  	
  15

  
	
  Section 3.03

  	
  Execution, Authentication, Delivery and Dating

  	
  15

  
	
  Section 3.04

  	
  Temporary Securities

  	
  16

  
	
  Section 3.05

  	
  Registration, Registration of Transfer and Exchange

  	
  16

  
	
  Section 3.06

  	
  Mutilated, Destroyed, Lost and Stolen Securities

  	
  17

  
	
  Section 3.07

  	
  Payment of Interest; Interest Rights Preserved

  	
  18

  
	
  Section 3.08

  	
  Persons Deemed Owners

  	
  18

  
	
  Section 3.09

  	
  Cancellation

  	
  18

  
	
  Section 3.10

  	
  Computation of Interest

  	
  19

  
	
  Section 3.11

  	
  CUSIP Number

  	
  19

  
	
  Section 3.12

  	
  Wire Transfers

  	
  19

  
	
   

  	
   

  	
   

  
	
  ARTICLE 4 SATISFACTION AND DISCHARGE

  	
  19

  
	
   

  	
   

  	
   

  
	
  Section 4.01

  	
  Satisfaction and Discharge of Indenture

  	
  19

  
	
  Section 4.02

  	
  Application of Trust Money

  	
  19

  
	
  Section 4.03

  	
  Application to a Specific Series of Securities

  	
  19

  
	
   

  	
   

  	
   

  
	
  ARTICLE 5 REMEDIES

  	
  20

  
	
   

  	
   

  	
   

  
	
  Section 5.01

  	
  Events of Default

  	
  20

  
	
  Section 5.02

  	
  Acceleration of Maturity; Rescission and Annulment

  	
  21

  
	
  Section 5.03

  	
  Collection of Indebtedness and Suits for Enforcement by
  Trustee

  	
  21

  
	
  Section 5.04

  	
  Trustee May File Proofs of Claim

  	
  21

  
	
  Section 5.05

  	
  Trustee May Enforce Claims Without Possession of
  Securities

  	
  22

  
	
  Section 5.06

  	
  Application of Money Collected

  	
  22

  
	
  Section 5.07

  	
  Limitation on Suits

  	
  22

  
	
  Section 5.08

  	
  Unconditional Right of Holders to Receive Principal,
  Premium and Interest

  	
  22

  
	
  Section 5.09

  	
  Restoration of Rights and Remedies

  	
  23

  
	
  Section 5.10

  	
  Rights and Remedies Cumulative

  	
  23

  
	
  Section 5.11

  	
  Delay or Omission Not Waiver

  	
  23

  
	
  Section 5.12

  	
  Control by Holders

  	
  23

  
	
  Section 5.13

  	
  Waiver of Past Defaults

  	
  23

  
	
  Section 5.14

  	
  Undertaking for Costs

  	
  23

  

 

ii

 

	
  ARTICLE 6 THE TRUSTEE

  	
  23

  
	
   

  	
   

  	
   

  
	
  Section 6.01

  	
  Certain Duties and Responsibilities of the Trustee

  	
  23

  
	
  Section 6.02

  	
  Notice of Defaults

  	
  24

  
	
  Section 6.03

  	
  Certain Rights of Trustee

  	
  24

  
	
  Section 6.04

  	
  Not Responsible for Recitals or Issuance of Securities

  	
  24

  
	
  Section 6.05

  	
  May Hold Securities

  	
  25

  
	
  Section 6.06

  	
  Money Held in Trust

  	
  25

  
	
  Section 6.07

  	
  Compensation and Reimbursement

  	
  25

  
	
  Section 6.08

  	
  Disqualification; Conflicting Interests

  	
  25

  
	
  Section 6.09

  	
  Corporate Trustee Required; Eligibility

  	
  25

  
	
  Section 6.10

  	
  Resignation and Removal; Appointment of Successor

  	
  25

  
	
  Section 6.11

  	
  Acceptance of Appointment by Successor

  	
  26

  
	
  Section 6.12

  	
  Merger, Conversion, Consolidation or Succession to Business

  	
  27

  
	
  Section 6.13

  	
  Preferential Collection of Claims Against Company

  	
  27

  
	
  Section 6.14

  	
  Appointment of Authenticating Agent

  	
  27

  
	
  Section 6.15

  	
  Compliance with Tax Laws

  	
  28

  
	
   

  	
   

  	
   

  
	
  ARTICLE 7 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

  	
  28

  
	
   

  	
   

  	
   

  
	
  Section 7.01

  	
  Company to Furnish Trustee Names and Addresses of Holders

  	
  28

  
	
  Section 7.02

  	
  Preservation of Information; Communications to Holders

  	
  28

  
	
  Section 7.03

  	
  Reports by Trustee

  	
  29

  
	
  Section 7.04

  	
  Reports by Company

  	
  29

  
	
   

  	
   

  	
   

  
	
  ARTICLE 8 CONSOLIDATION, MERGER, LEASE, SALE OR TRANSFER

  	
  29

  
	
   

  	
   

  	
   

  
	
  Section 8.01

  	
  When Company May Merge, Etc

  	
  29

  
	
  Section 8.02

  	
  Opinion of Counsel

  	
  30

  
	
  Section 8.03

  	
  Successor Corporation Substituted

  	
  30

  
	
   

  	
   

  	
   

  
	
  ARTICLE 9 SUPPLEMENTAL INDENTURES

  	
  30

  
	
   

  	
   

  	
   

  
	
  Section 9.01

  	
  Supplemental Indentures Without Consent of Holders

  	
  30

  
	
  Section 9.02

  	
  Supplemental Indentures with Consent of Holders

  	
  31

  
	
  Section 9.03

  	
  Execution of Supplemental Indentures

  	
  31

  
	
  Section 9.04

  	
  Effect of Supplemental Indentures

  	
  31

  
	
  Section 9.05

  	
  Conformity with Trust Indenture Act

  	
  31

  
	
  Section 9.06

  	
  Reference in Securities to Supplemental Indentures

  	
  31

  
	
  Section 9.07

  	
  Subordination Unimpaired

  	
  31

  
	
   

  	
   

  	
   

  
	
  ARTICLE 10 COVENANTS

  	
  32

  
	
   

  	
   

  	
   

  
	
  Section 10.01

  	
  Payments of Securities

  	
  32

  
	
  Section 10.02

  	
  Maintenance of Office or Agency

  	
  32

  
	
  Section 10.03

  	
  Compliance Certificates

  	
  32

  
	
  Section 10.04

  	
  Waiver of Stay, Extension or Usury Laws

  	
  32

  
	
  Section 10.05

  	
  Money for Securities Payments to Be Held in Trust

  	
  32

  
	
  Section 10.06

  	
  Waiver of Certain Covenants

  	
  33

  
	
   

  	
   

  	
   

  
	
  ARTICLE 11 REDEMPTION OF SECURITIES

  	
  33

  
	
   

  	
   

  	
   

  
	
  Section 11.01

  	
  Applicability of Article

  	
  33

  
	
  Section 11.02

  	
  Election to Redeem; Notice to Trustee

  	
  33

  
	
  Section 11.03

  	
  Selection by Trustee of Securities to Be Redeemed

  	
  33

  
	
  Section 11.04

  	
  Notice of Redemption

  	
  33

  
	
  Section 11.05

  	
  Deposit of Redemption Price

  	
  34

  
	
  Section 11.06

  	
  Securities Payable on Redemption Date

  	
  34

  
	
  Section 11.07

  	
  Securities Redeemed in Part

  	
  34

  
	
   

  	
   

  	
   

  
	
  ARTICLE 12 SINKING FUNDS

  	
  34

  
	
   

  	
   

  	
   

  
	
  Section 12.01

  	
  Applicability of Article

  	
  34

  
	
  Section 12.02

  	
  Satisfaction of Sinking Fund Payments with Securities

  	
  35

  
	
  Section 12.03

  	
  Redemption of Securities for Sinking Fund

  	
  35

  
	
   

  	
   

  	
   

  
	
  ARTICLE 13 DEFEASANCE AND COVENANT DEFEASANCE

  	
  35

  
	
   

  	
   

  	
   

  
	
  Section 13.01

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

  	
  35

  
	
  Section 13.02

  	
  Defeasance and Discharge

  	
  35

  
	
  Section 13.03

  	
  Covenant Defeasance

  	
  35

  
	
  Section 13.04

  	
  Conditions to Defeasance or Covenant Defeasance

  	
  35

  

 

iii

 

	
  Section 13.05

  	
  Deposited Money and Government Obligations To Be Held in
  Trust

  	
  36

  
	
  Section 13.06

  	
  Reinstatement

  	
  36

  
	
   

  	
   

  	
   

  
	
  ARTICLE 14 SUBORDINATION

  	
  37

  
	
   

  	
   

  	
   

  
	
  Section 14.01

  	
  Subordination

  	
  37

  
	
  Section 14.02

  	
  Priority of Senior Debt

  	
  37

  
	
  Section 14.03

  	
  Payments upon Bankruptcy

  	
  37

  
	
  Section 14.04

  	
  Subrogation; Rights not Impaired

  	
  38

  
	
  Section 14.05

  	
  Authorization of Trustee

  	
  38

  
	
  Section 14.06

  	
  Notice of the Trustee

  	
  38

  
	
  Section 14.07

  	
  Holders of Senior Debt; Trustee’s Obligations

  	
  38

  
	
  Section 14.08

  	
  Actions by Holders of Senior Debt

  	
  39

  
	
  Section 14.09

  	
  Paying Agent

  	
  39

  
	
  Section 14.10

  	
  Monies Held in Trust

  	
  39

  
	
   

  	
   

  	
   

  
	
  ARTICLE 15 GUARANTEES

  	
  39

  
	
   

  	
   

  	
   

  
	
  Section 15.01

  	
  Guarantee

  	
  39

  

 

iv

 

INDENTURE, dated as of
                                ,
20    , between INTERLINE BRANDS, INC., a Delaware
corporation (herein called the “COMPANY”), the GUARANTORS listed on Schedule 1
hereto (herein called the “GUARANTORS”) and THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as Trustee (herein called the “TRUSTEE”).

 

RECITALS OF
THE COMPANY

 

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

 

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

 

NOW,
THEREFORE, THIS INDENTURE WITNESSETH:

 

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

 

ARTICLE 1

 

DEFINITIONS AND OTHER PROVISIONS
OF GENERAL APPLICATION

 

Section 1.01    Definitions.  For all purposes of this Indenture, except as
otherwise expressly provided or unless the context otherwise requires:

 

(1) the
terms defined in this Article have the meanings assigned to them in this Article and
include the plural as well as the singular;

 

(2) all
other terms used herein which are defined in the Trust Indenture Act, either
directly or by reference therein, or defined by Commission rule and not
otherwise defined herein, have the meanings assigned to them therein;

 

(3) all
accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with GAAP;

 

(4) the
word “INCLUDING” (and with correlative meaning “INCLUDE”) means including,
without limiting the generality of, any description preceding such term; and

 

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

 

“ACT,” when used with respect
to any Holder, has the meaning specified in Section 1.04.

 

“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
purposes of this definition, “CONTROL” (including, with correlative meanings,
the terms “CONTROLLING,” “CONTROLLED BY” and “UNDER COMMON CONTROL with”), as
used with respect to any Person, shall mean the possession, directly or
indirectly, of the power to direct or cause the direction of the management or
policies of such Person, whether through the ownership of voting securities, by
agreement or otherwise. For purposes of this definition, the terms “controlling,”
“controlled by” and “under common control with” shall have correlative
meanings.

 

“AUTHENTICATING AGENT” means
any Person authorized by the Trustee to act on behalf of the Trustee to
authenticate Securities.

 

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

 

“BOARD OF DIRECTORS” means
the board of directors of the Company; provided, however, that when the context
refers to actions or resolutions of the Board of Directors, then the term “BOARD
OF DIRECTORS” shall also mean any duly authorized committee of the Board of
Directors of the Company authorized to act with respect to any particular
matter to exercise the power of the Board of Directors of the Company.

 

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

 

“BUSINESS DAY,” when used
with respect to any Place of Payment or any other particular location referred
to in this Indenture or in the Securities of any series, means each Monday,
Tuesday, Wednesday, Thursday and Friday which is not a day on which banking
institutions in that Place of Payment are authorized or obligated by law or
regulation to close.

 

1

 

“CAPITAL STOCK” means, with
respect to any Person, any and all shares, interests, participations, warrants,
rights, options or other equivalents (however designated) of capital stock or
any other equity interest of such Person, including each class of common stock
and preferred stock.

 

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

 

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

 

“COMPANY REQUEST” or “COMPANY
ORDER” means a written request or order signed in the name of the Company by
any two Officers, at least one of whom must be its Chairman of the Board, its
Chief Executive Officer, its President, its Chief Financial Officer, its Chief
Accounting Officer, its Treasurer, an Assistant Treasurer or its Controller,
and delivered to the Trustee.

 

“CORPORATE TRUST OFFICE”
means the office of the Trustee at which at any particular time its corporate
trust business shall be principally administered, which office at the date
hereof is located at The Bank of New York Mellon Trust Company, N.A., 10161
Centurion Parkway, Jacksonville, FL 32256; Attn: Corporate Trust
Administration.

 

“COVENANT DEFEASANCE” has the
meaning specified in Section 13.03.

 

“CURRENCY UNIT” or “CURRENCY
UNITS” shall mean any composite currency.

 

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

 

“DEBT” means, with respect to
any Person at any date of determination (without duplication), (i) all
obligations of such Person for borrowed money, (ii) all obligations of
such Person evidenced by bonds, debentures, notes or other similar instruments,
including obligations incurred in connection with the acquisition of property,
assets or businesses, (iii) all obligations of such Person in respect of
letters of credit or bankers’ acceptances or other similar instruments (or
reimbursement obligations thereto) issued on the account of such Person, (iv) all
obligations of such Person issued or assumed as the deferred purchase price of
property or services, but excluding trade accounts payable or accrued liabilities
arising in the ordinary course of business in connection with acquisition of
goods or services, (v) all obligations of such Person as lessee under
capitalized leases, (vi) all Debt of others secured by a Lien on any asset
of such Person, whether or not such Debt is assumed by such Person; provided
that, for purposes of determining the amount of any Debt of the type described
in this clause (vi), if recourse with respect to such Debt is limited to such
asset, the amount of such Debt shall be limited to the lesser of the fair
market value of such asset or the amount of such Debt, (vii) all Debt and
dividends of others guaranteed by such Person to the extent such Debt and
dividends are guaranteed by such Person, and (viii) to the extent not
otherwise included in this definition, all obligations of such Person for
claims in respect of derivative products, including interest rate, foreign
exchange rate and commodity prices, forward contracts, options, swaps, collars
and similar arrangements.

 

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

 

“DEFAULTED INTEREST” has the
meaning specified in Section 3.07.

 

“DEFEASANCE” has the meaning
specified in Section 13.02.

 

“DEPOSITARY” means, with
respect to the Securities of any series issuable or issued in whole or in part
in the form of one or more global Securities, the Person designated as
Depositary by the Company pursuant to Section 3.01 until a successor
Depositary shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Depositary” shall mean or include each Person who is
then a Depositary hereunder, and if at any time there is more than one such
Person, “Depositary” shall mean the Depositary with respect to the Securities
of that series.

 

“DOLLARS” and “$” means
lawful money of the United States of America.

 

“EVENT OF DEFAULT” has the
meaning specified in Section 5.01.

 

“EXCHANGE ACT” means the
Securities Exchange Act of 1934, as amended from time to time, and the rules and
regulations promulgated thereunder.

 

“GAAP” means such accounting
principles as are generally accepted in the United States of America which are
in effect on the date hereof.

 

“GUARANTEE” means the
guarantee by any Guarantor of the obligations under this Indenture.

 

“HOLDER” or “SECURITYHOLDER”
means a Person in whose name a Security is registered in the Security Register.

 

2

 

“INDEBTEDNESS” means, with
respect to any Person (without duplication for indebtedness or other
obligations of such Person), any indebtedness of such Person for money
borrowed, whether incurred, assumed or guaranteed, and including obligations
under capitalized leases.

 

“INDENTURE” means this
instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into pursuant to the applicable provisions hereof and shall include the terms
of particular series of Securities established as contemplated hereunder.

 

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

 

“INTEREST PAYMENT DATE,” when
used with respect to any Security, means the Stated Maturity of an installment
of interest on such Security.

 

“JUDGMENT CURRENCY” has the
meaning specified in Section 1.15.

 

“LIEN” means, with respect to
any property, any mortgage, lien, pledge, charge, security interest or
encumbrance of any kind in respect of such property. For purposes of this
Indenture, the Company shall be deemed to own subject to a Lien any property
which it has acquired or holds subject to the interest of a vendor or lessor
under any conditional sale agreement, capital lease or other title retention
agreement relating to such property.

 

“MATURITY,” when used with
respect to any Security, means the date on which the principal of such Security
or an installment of principal becomes due and payable as therein or herein
provided, whether at the Stated Maturity or by declaration of acceleration,
call for redemption or otherwise.

 

“NEW YORK BANKING DAY” has
the meaning specified in Section 1.15.

 

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

 

“OFFICERS’ CERTIFICATE” means
a certificate signed by any two Officers of the Company, at least one of whom
must be its Chief Executive Officer, its President, its Chief Financial
Officer, its Chief Accounting Officer, its Treasurer or its Controller, and
delivered to the Trustee.

 

“OPINION OF COUNSEL” means a
written opinion of counsel, who may be an employee of or counsel for the
Company, and who shall be reasonably acceptable to the Trustee.

 

“ORIGINAL ISSUE DISCOUNT
SECURITY” means any Security which provides for an amount less than the
principal amount thereof to be due and payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 5.02.

 

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

 

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

 

(ii) Securities, or
portions thereof, for whose payment or redemption money in the necessary amount
has been theretofore deposited with the Trustee or any Paying Agent (other than
the Company) in trust or set aside and segregated in trust by the Company (if
the Company shall act as its own Paying Agent) for the Holders of such
Securities; provided that, if such Securities are to be redeemed, notice of
such redemption has been duly given pursuant to this Indenture or provision
therefor reasonably satisfactory to the Trustee has been made;

 

(iii) Securities which
have been paid as provided herein or in exchange for or in lieu of which other
Securities have been authenticated and delivered pursuant to this Indenture,
other than any such Securities in respect of which there shall have been
presented to the Trustee proof reasonably satisfactory to it that such
Securities are held by a bona fide purchaser in whose hands such Securities are
valid obligations of the Company; and

 

(iv) Securities which
have been defeased pursuant to Section 13.02;

 

provided, however, that in
determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, or whether sufficient funds are
available for redemption or for any other purpose and for the purpose of making
the calculations required by Section 313 of the Trust Indenture Act, (a) the
principal amount of any Original Issue Discount Security that shall be deemed
to be Outstanding for such purposes shall be that portion of the principal
amount thereof that could be declared to be due and payable upon the occurrence
of an Event of Default and the continuation thereof pursuant to the terms of
such Original Issue Discount Security as of the date of such determination, (b) the
principal amount of a Security denominated in one or more foreign currencies or

 

3

 

currency units shall be the
dollar equivalent, determined in the manner provided as contemplated by Section 3.01
on the date of original issuance of such Security, of the principal amount (or,
in the case of an Original Issue Discount Security, the dollar equivalent on
the date of original issuance of such Security of the amount determined as
provided in (a) above) of such Security, and (c) Securities owned by
the Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor shall be disregarded and deemed not to be
Outstanding, except that, in determining whether the Trustee shall be protected
in relying upon any such request, demand, authorization, direction, notice,
consent or waiver, only Securities which the Trustee knows to be so owned shall
be so disregarded. Securities so owned which have been pledged in good faith
may be regarded as Outstanding if the pledgee establishes to the satisfaction
of the Trustee the pledgee’s right so to act with respect to such Securities
and that the pledgee is not the Company or any other obligor upon the
Securities or any Affiliate of the Company or of such other obligor.

 

“PAYING AGENT” means any
Person authorized by the Company to pay the principal of, premium, if any, or
interest on any Securities on behalf of the Company. The Company may act as Paying
Agent with respect to any Securities issued hereunder.

 

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

 

“PLACE OF PAYMENT,” when used
with respect to the Securities of any series, means the place or places where
the principal of (and premium, if any) and interest on the Securities of that
series are payable as specified as contemplated by Section 3.01.

 

“PREDECESSOR SECURITY” of any
particular Security means every previous Security evidencing all or a portion
of the same debt as that evidenced by such particular Security and, for the
purposes of this definition, any Security authenticated and delivered under Section 3.06
in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security
shall be deemed to evidence the same debt as the mutilated, destroyed, lost or
stolen Security.

 

“REDEMPTION DATE,” when used
with respect to any Security of any series to be redeemed, means the date fixed
for such redemption by or pursuant to this Indenture.

 

“REDEMPTION PRICE,” when used
with respect to any Security of any series to be redeemed, means the price at
which it is to be redeemed pursuant to this Indenture.

 

“REGISTERED SECURITY” means
any Security issued hereunder and registered in the Security Register.

 

“REGULAR RECORD DATE” for the
interest payable on any Interest Payment Date on the Securities of any series
means the date specified for that purpose as contemplated by Section 3.01.

 

“REQUIRED CURRENCY” has the
meaning specified in Section 1.15.

 

“RESPONSIBLE OFFICER,” when
used with respect to the Trustee, means any officer of the Trustee assigned to
administer corporate trust matters and also means, with respect to a particular
corporate trust matter, any other officer to whom such matter is referred
because of his or her knowledge of and familiarity with the particular subject.

 

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

 

“SECURITY REGISTER” and “SECURITY
REGISTRAR” have the respective meanings specified in Section 3.05.

 

“SENIOR DEBT” means the principal
of (and premium, if any) and interest on all Debt of the Company whether
created, incurred or assumed before, on or after the date of this Indenture;
provided that such Senior Debt shall not include any Debt of the Company which
by the terms of the instrument creating or evidencing the same such Debt is
specifically designated as being subordinated to or pari passu with the
Securities.

 

This definition may be
modified or superseded in a manner as contemplated by Section 3.01.

 

“SIGNIFICANT SUBSIDIARY” of a
Person has the meaning ascribed to such term in Rule 1.02(w) of
Regulation S-X under the Securities Act of 1933, as amended.

 

“SPECIAL RECORD DATE” for the
payment of any Defaulted Interest means a date fixed by the Trustee pursuant to
Section 3.07.

 

“STATED MATURITY,” when used
with respect to any Security or any installment of principal thereof or
interest thereon, means the date specified in such Security as the fixed date
on which the principal of such Security or such installment of principal or
interest is due and payable.

 

“SUBSIDIARY” means, with
respect to any Person:

 

4

 

(1) any
corporation, association or other business entity of which more than 50% of the
total voting power of shares of Capital Stock entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers
or trustees thereof is at the time owned or controlled, directly or indirectly,
by such Person or one or more of the other Subsidiaries of that Person (or a
combination thereof); and

 

(2) any
partnership (a) the sole general partner or the managing general partner
of which is such Person or a Subsidiary of such Person or (b) the only
general partners of which are such Person or one or more Subsidiaries of such
Person (or any combination thereof).

 

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

 

“TRUST INDENTURE ACT” means
the Trust Indenture Act of 1939, as amended, as in force at the date as of
which this Indenture was executed; provided, however, that in the event that
such Act is amended after such date, “Trust Indenture Act” means, to the extent
required by any such amendment, the Trust Indenture Act of 1939 as so amended.

 

“U.S. GOVERNMENT OBLIGATIONS”
means securities which are (i) direct obligations of the United States of
America for the payment of which its full faith and credit is pledged or (ii) obligations
of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America the timely payment of which is
unconditionally guaranteed by the full faith and credit of the United States of
America which, in either case, are not callable or redeemable at the option of
the issuer thereof or otherwise subject to prepayment, and shall also include a
depository receipt issued by a New York Clearing House bank or trust company as
custodian with respect to any such U.S. Government Obligation, or a specific
payment of interest on or principal of any such U.S. Government Obligation held
by such custodian for the account of the holder of a depository receipt,
provided that (except as required by law) such custodian is not authorized to
make any deduction from the amount payable to the holder of such depository
receipt from any amount held by the custodian in respect of the U.S. Government
Obligation or the specific payment of interest on or principal of the U.S.
Government Obligation evidenced by such depository receipt.

 

“VICE PRESIDENT,” when used
with respect to the Company or the Trustee, means any vice president, whether
or not designated by a number or a word or words added before or after the
title “vice president.”

 

“VOTING STOCK” of any Person
as of any date means the Capital Stock of such Person that is at the time
entitled to vote in the election of the Board of Directors of such Person.

 

Section 1.02    Compliance
Certificates and Opinions. Upon any application or request by the Company to
the Trustee to take any action under any provision of this Indenture, the
Company shall furnish to the Trustee an Officers’ Certificate stating that all
conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with and an Opinion of Counsel stating that
in the opinion of such counsel all such conditions precedent, if any, have been
complied with, except that in the case of any such application or request as to
which the furnishing of such documents is specifically required by any
provision of this Indenture relating to such particular application or request,
no additional certificate or opinion need be furnished.

 

Every certificate or opinion with
respect to compliance with a condition or covenant provided for in this
Indenture shall include:

 

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

 

(b) 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;

 

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

 

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

 

Section 1.03    Form of
Documents Delivered to Trustee. In any case where several matters are required
to be certified by, or covered by an opinion of, any specified Person, it is
not necessary that all such matters be certified by, or covered by the opinion
of, only one such Person, or that they be so certified or covered by only one
document, but one such Person may certify or give an opinion with respect to
some matters and one or more other such Persons as to other matters, and any
such Person may certify or give an opinion as to such matters in one or several
documents.

 

Any certificate or opinion of
an Officer may be based, insofar as it relates to legal matters, upon a
certificate or opinion of, or representations by, counsel, unless such Officer
actually knows that the certificate or opinion or representations with respect
to the matters upon which his certificate or opinion is based are erroneous.
Any such certificate or Opinion of Counsel may be based, insofar as it relates
to factual matters, upon a certificate or opinion of, or representations by, an
Officer or Officers of the Company stating that the information with respect to
such factual matters is in the possession of the Company, unless such counsel
actually knows that the certificate or opinion or representations with respect
to such matters are erroneous.

 

5

 

Any certificate, statement or
opinion of an Officer of the Company or of counsel may be based, insofar as it
relates to accounting matters, upon a certificate or opinion of or
representations by an accountant or firm of accountants in the employ of the Company,
unless such Officer or counsel, as the case may be, actually knows that the
certificate or opinion or representations with respect to the accounting
matters upon which his or her certificate, statement or opinion is based are
erroneous.

 

Where any Person is required
to make, give or execute two or more applications, requests, consents,
certificates, statements, opinions or other instruments under this Indenture,
they may, but need not, be consolidated and form one instrument.

 

Section 1.04    Acts of Holders.

 

(a) Any request, demand,
authorization, direction, notice, consent, waiver or other action provided by
this Indenture to be given or taken by Holders may be embodied in and evidenced
by one or more instruments of substantially similar tenor signed by such
Holders in person or by agents duly appointed in writing; and, except as herein
otherwise expressly provided, such action shall become effective when such
instrument or instruments are delivered to the Trustee and, where it is hereby
expressly required, to the Company. Such instrument or instruments (and the
action embodied therein and evidenced thereby) are herein sometimes referred to
as the “ACT” of the Holders signing such instrument or instruments. Proof of
execution of any such instrument or of a writing appointing any such agent
shall be sufficient for any purpose of this Indenture and (subject to Section 6.01)
conclusive in favor of the Trustee and the Company, if made in the manner
provided in this Section.

 

(b) The fact and date of
the execution by any Person of any such instrument or writing may be proved by
the affidavit of a witness of such execution or by a certificate of a notary
public or other officer authorized by law to take acknowledgments of deeds,
certifying that the individual signing such instrument or writing acknowledged
to him the execution thereof. Where such execution is by a signer acting in a
capacity other than his individual capacity, such certificate or affidavit
shall also constitute sufficient proof of his authority. The fact and date of
the execution of any such instrument or writing, or the authority of the Person
executing the same, may also be proved in any other manner which the Trustee
deems sufficient.

 

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

 

(d) Any request, demand,
authorization, direction, notice, consent, waiver or other Act of the Holder of
any Security shall bind every future Holder of the same Security and the Holder
of every Security issued upon the registration of transfer thereof or in
exchange therefor or in lieu thereof in respect of anything done, omitted or
suffered to be done by the Trustee or the Company in reliance thereon, whether
or not notation of such action is made upon such Security.

 

(e) If the Company shall
solicit from the Holders any request, demand, authorization, direction, notice,
consent, waiver or other Act, the Company may, at its option, by or pursuant to
a Board Resolution, fix in advance a record date for the determination of Holders
entitled to give such request, demand, authorization, direction, notice,
consent, waiver or other Act, but the Company shall have no obligation to do
so, provided that the Company may not set a record date for, and the provisions
of this paragraph shall not apply with respect to, the giving or making of any
notice, declaration, request or direction referred to in the immediately
following paragraph. If such a record date is fixed, such request, demand,
authorization, direction, notice, consent, waiver or other Act may be given
before or after such record date, but only the Holders of record at the close
of business on such record date shall be deemed to be Holders for the purposes
of determining whether Holders of the requisite proportion of Outstanding Securities
have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other Act, and for that purpose the
Outstanding Securities shall be computed as of such record date; provided that
no such authorization, agreement or consent by the Holders on such record date
shall be deemed effective unless it shall become effective pursuant to the
provisions of this Indenture not later than six months after the record date.

 

(f) The Trustee shall
set a record date, which shall not be more than 15 days prior to the date of
commencement of solicitation of such action contemplated by this section
1.04(f), for the purpose of determining the Holders of Securities of any series
entitled to join in the giving or making of (i) any Notice of Default, (ii) any
declaration of acceleration referred to in Section 5.02, (iii) any
direction referred to in Section 5.12, (iv) any request to institute
proceedings referred to in Section 5.07(2) or (v) any waiver of
past defaults pursuant to Section 5.13, in each case with respect to
Securities of such series. If such a record date is fixed pursuant to this
paragraph, the relevant action may be taken or given before or after such
record date, but only the Holders of record at the close of business on such
record date shall be deemed to be holders of Securities of a series for the
purpose of determining whether Holders of the requisite proportion of
Outstanding Securities of such series have authorized or agreed or consented to
such action, and for that purpose the Outstanding Securities of such series
shall be computed as of such record date; provided that no such action by
Holders on such record date shall be deemed effective unless it shall become
effective pursuant to the provisions of this Indenture not later than six
months after the record date. Nothing in this paragraph shall be construed to
prevent the Trustee from setting a new record date for any action for which a
record date has been set pursuant to this paragraph (whereupon the record date
previously set shall automatically and with no action by any Person be canceled
and of no effect), and nothing in this paragraph shall be construed to render
ineffective any action taken by Holders of the requisite principal amount of
Outstanding Securities of the relevant series on the date such action is taken.
Promptly after any record date is set pursuant to this paragraph, the Trustee,
at the Company’s reasonable expense, shall cause notice of such record date and
the proposed action by Holders to be given to the Company in writing and to
each Holder of Securities of the relevant series in the manner set forth in Section 1.06.

 

Section 1.05    Notices, Etc.,
to Trustee and Company. Any request, demand, authorization, direction, notice,
consent, waiver or Act of Holders or other document provided or permitted by
this Indenture to be made upon, given or furnished to, or filed with,

 

6

 

(a) the Trustee by any
Holder or by the Company shall be sufficient for every purpose hereunder if
made, given, furnished or filed in writing and mailed first-class postage
prepaid, to or with the Trustee at The Bank of New York Mellon Trust Company,
N.A., 10161 Centurion Parkway, Jacksonville, FL 32256; Attn: Corporate Trust
Administration; or

 

(b) the Company by the
Trustee or by any Holder shall be sufficient for every purpose hereunder
(unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to the Company addressed to it at Interline Brands, Inc.,
701 San Marco Boulevard, Jacksonville, FL 32207, Attention: Secretary, or at
any other address previously furnished in writing to the Trustee by the
Company.

 

Section 1.06    Notice to
Holders; Waiver. Where this Indenture or any Security provides for notice to
Holders of any event, such notice shall be deemed sufficiently given (unless
otherwise herein or in such Security expressly provided) if in writing and
mailed, first-class postage prepaid, to each Holder affected by such event, at
his address as it appears in the Security Register, not later than the latest
date, and not earlier than the earliest date, prescribed for the giving of such
notice. In any case where notice to Holders is given by mail, neither the
failure to mail such notice, nor any defect in any notice so mailed, to any
particular Holder shall affect the sufficiency of such notice with respect to
other Holders or the validity of the proceedings to which such notice relates.

 

In case by reason of the
suspension of regular mail service or by reason of any other cause it shall be
impracticable to give such notice by mail, then such notification as shall be
made with the approval of the Trustee shall constitute a sufficient
notification for every purpose hereunder.

 

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

 

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

 

Section 1.07    Conflict with
Trust Indenture Act. If any provision hereof limits, qualifies or conflicts
with another provision hereof which is required to be included or deemed
included in this Indenture by any of the provisions of the Trust Indenture Act,
such required provision shall control. If any provision of this Indenture
modifies or excludes any provision of the Trust Indenture Act that may be so
modified or excluded, such provision of the Trust Indenture Act shall be deemed
to apply to this Indenture as so modified or shall be excluded, as the case may
be.

 

Section 1.08    Effect of
Headings and Table of Contents. The Article and Section headings
herein and the Table of Contents are for convenience only and shall not affect
the construction hereof.

 

Section 1.09    Successors and
Assigns. All covenants and agreements in this Indenture by the Company shall
bind its successors and assigns, whether so expressed or not.

 

Section 1.10    Separability
Clause. In case any provision in this Indenture or in the Securities shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 1.11    Benefits of
Indenture. Nothing in this Indenture or in the Securities, express or implied,
shall give to any Person, other than the parties hereto and their successors
hereunder, the Holders and to the extent specifically set forth herein the
holders of Senior Debt, any benefit or any legal or equitable right, remedy or
claim under this Indenture.

 

Section 1.12    Governing Law.
This Indenture and the Securities shall be governed by and construed in
accordance with the laws (other than the choice of law provisions) of the State
of New York.

 

Section 1.13    Legal
Holidays. In any case where any Interest Payment Date, Redemption Date, sinking
fund payment date, Stated Maturity or Maturity of any Security shall not be a
Business Day at any Place of Payment, then (notwithstanding any other provision
of this Indenture or of the Securities other than a provision in the Securities
of any series which specifically states that such provision shall apply in lieu
of this Section) payment of interest or principal (and premium, if any) need
not be made at such Place of Payment on such date, but may be made on the next
succeeding Business Day or on such other day as may be set out in the Officers’
Certificate pursuant to Section 3.01 at such Place of Payment with the
same force and effect as if made on the Interest Payment Date, Redemption Date,
sinking fund payment date, Stated Maturity or Maturity, as the case may be,
provided that no interest shall accrue on the amount so payable for the period
from and after such Interest Payment Date, Redemption Date, sinking fund
payment date, Stated Maturity or Maturity, as the case may be, if payment is
made on such next succeeding Business Day or other day set out in such Officers’
Certificate.

 

Section 1.14    No Recourse
Against Others. A director, officer, employee or stockholder, as such, of the
Company or any Guarantor (other than a stockholder which itself is the Company
or a Guarantor of the Securities) shall not have any liability for any
obligations of the Company or any Guarantor under the Securities or this
Indenture or for any claim based on, in respect of or by reason of such
obligations or their creation. Each Securityholder, by accepting a Security,
waives and releases all such liability. Such waivers and releases are part of
the consideration for the issuance of the Securities.

 

7

 

Section 1.15    Judgment
Currency. The Company agrees, to the fullest extent that it may effectively do
so under applicable law, that (a) if for the purpose of obtaining judgment
in any court it is necessary to convert the sum due in respect of the principal
of, or premium or interest, if any, on the Securities of any series (the “REQUIRED
CURRENCY”) into a currency in which a judgment will be rendered (the “JUDGMENT
CURRENCY”), the rate of exchange used shall be the rate at which in accordance
with normal banking procedures the Trustee could purchase in The City of New York
the Required Currency with the Judgment Currency on the New York Banking Day
preceding that on which a final unappealable judgment is given and (b) its
obligations under this Indenture to make payments in the Required Currency (i) shall
not be discharged or satisfied by any tender, or any recovery pursuant to any
judgment (whether or not entered in accordance with subsection (a)), in any
currency other than the Required Currency, except to the extent that such
tender or recovery shall result in the actual receipt, by the payee, of the
full amount of the Required Currency expressed to be payable in respect of such
payments, (ii) shall be enforceable as an alternative or additional cause
of action for the purpose of recovering in the Required Currency the amount, if
any, by which such actual receipt shall fall short of the full amount of the
Required Currency so expressed to be payable and (iii) shall not be
affected by judgment being obtained for any other sum due under this Indenture.
For purposes of the foregoing, “NEW YORK BANKING DAY” means any day except a
Saturday, Sunday or a legal holiday in The City of New York or a day on which
banking institutions in The City of New York are authorized or required by law
or executive order to close.

 

Section 1.16    Counterparts.
This instrument may be executed in any number of counterparts, each of which so
executed shall be deemed to be an original, but all such counterparts shall
together constitute but one and the same instrument.

 

ARTICLE
2

 

SECURITY
FORMS

 

Section 2.01    Forms
Generally. The Securities of each series shall be in substantially the form set
forth in this Article, or in such other form as shall be established by or
pursuant to a Board Resolution or in one or more indentures supplemental
hereto, in each case with such appropriate insertions, omissions, substitutions
and other variations as are required or permitted by this Indenture, and may
have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of
any securities exchange or as may, consistently herewith, be determined by the
Officers executing such Securities, as evidenced by their execution of the
Securities. If the form of Securities of any series is established by action
taken pursuant to a Board Resolution, a copy of an appropriate record of such
action shall be certified by the Secretary or an Assistant Secretary of the
Company and delivered to the Trustee at or prior to the delivery of the Company
Order contemplated by Section 3.03 for the authentication and delivery of
such Securities.

 

The definitive Securities
shall be printed, lithographed or engraved on steel engraved borders or may be
produced in any other manner, all as determined by the officers executing such
Securities, as evidenced by their execution of such Securities.

 

Section 2.02    Form of
Face of Security.

 

INTERLINE
BRANDS, INC.

 

	
  No.

  	
   

  	
  [$]                    

  

 

Interline Brands, Inc.,
a corporation duly organized and existing under the laws of Delaware (herein
called the “COMPANY,” which term includes any successor corporation under the
Indenture hereinafter referred to), for value received, hereby promises to pay
to
                              ,
or registered assigns, the principal sum of
                              
[Dollars] on                          
[if the Security is to bear interest prior to Maturity, insert— and to pay
interest thereon from
                              
or from the most recent Interest Payment Date to which interest has been paid
or duly provided for, semi-annually on
                         
and                           
in each year [if other than semi-annual payments, insert frequency of payments
and payment dates], commencing
                                 ,
at [if the Security is to bear interest at a fixed rate, insert— the rate of
          % per annum], [if
the Security is to bear interest at a variable or floating rate and if
determined with reference to an index, refer to description of index below]
until the principal hereof is paid or made available for payment [if applicable
insert—, and (to the extent that the payment of such interest shall be legally
enforceable) at the rate of
          % per annum on any
overdue principal and premium and on any overdue installment of interest]. The
interest so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in such Indenture, be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such interest, which
shall be the
                    
or                     
(whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date. Any such interest not so punctually paid or duly
provided for will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business
on a Special Record Date for the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to Holders of Securities of this
series not less than 10 days prior to such Special Record Date, or be paid at
any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture].

 

[If
the Securities are floating or adjustable rate securities with respect to which
the principal of or any premium or interest may be determined with reference to
an index, insert the text of the floating or adjustable rate provision.]

 

[If
the Security is not to bear interest prior to Maturity, insert— The principal
of this Security shall not bear interest except in the case of a default in
payment of principal upon acceleration, upon redemption or at Stated Maturity
and in such case the overdue principal of this Security shall bear interest at
the rate of           % per
annum (to the extent that the payment of such interest shall be legally
enforceable), which shall accrue from the date of such default in payment to
the date payment of such principal has been made or duly provided for. Interest
on any overdue principal shall

 

8

 

be
payable on demand. Any such interest on any overdue principal that is not so
paid on demand shall bear interest at the rate of
          % per annum (to the
extent that the payment of such interest shall be legally enforceable), which
shall accrue from the date of such demand for payment to the date payment of
such interest has been made or duly provided for, and such interest shall also
be payable on demand.]

 

Payment of the principal of
(and premium, if any) and [if applicable, insert—any such] interest on this
Security will be made at the office or agency of the Company maintained for
that purpose in
                            ,
in dollars [if applicable, insert—; provided, however, that at the option of
the Company, payment of interest may be made by check mailed to the address of
the Person entitled thereto as such address shall appear in the Security
Register].

 

[If
applicable, insert— So long as all of the Securities of this series are
represented by Securities in global form, the principal of, premium, if any,
and interest, if any, on this global Security shall be paid in same day funds
to the Depositary, or to such name or entity as is requested by an authorized
representative of the Depositary. If at any time the Securities of this series
are no longer represented by global Securities and are issued in definitive
certificated form, then the principal of, premium, if any, and interest, if
any, on each certificated Security at Maturity shall be paid in same day funds
to the Holder upon surrender of such certificated Security at the Corporate
Trust Office of the Trustee, or at such other place or places as may be designated
in or pursuant to the Indenture, provided that such certificated Security is
surrendered to the Trustee, or at such other place or places as may be
designated in or pursuant to the Indenture, provided that such certificated
Security is surrendered to the Trustee, acting as Paying Agent, in time for the
Paying Agent to make such payments in such funds in accordance with its normal
procedures. Payments of interest with respect to such certificated Securities
other than at Maturity may, at the option of the Company, be made by check
mailed to the address of the Person entitled thereto as it appears on the
Security Register on the relevant Regular or Special Record Date or by wire
transfer in same day funds to such account as may have been appropriately designated
to the Paying Agent by such Person in writing not later than such relevant
Regular or Special Record Date.]

 

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

 

Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the
reverse hereof by manual signature, this Security shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any purpose.

 

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

 

	
   

  	
  INTERLINE
  BRANDS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Date:

  	
   

  	
  , 20

  
						

 

Section 2.03    Form of
Reverse of Security.

 

This Security is one of a
duly authorized issue of securities of the Company (herein called the “SECURITIES”),
issued and to be issued in one or more series under an Indenture, dated as of
                              ,
20     (herein called the “INDENTURE”), between the Company
and
                                        ,
as Trustee (herein called the “TRUSTEE,” which term includes any successor
trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is
one of the series designated on the face hereof [, limited in aggregate
principal amount to
$                    ].

 

[—
The Securities of this series are subject to redemption upon not less than 30
nor more than 60 days’ notice by first class mail, [if applicable, insert— (1) on
                    
in any year commencing with the year
                    
and ending with the year
                  
through operation of the sinking fund for this series at a Redemption Price
equal to 100% of the principal amount, and (2)] at any time [on or after
                    ,
          ], as a whole or in
part, at the election of the Company, at the following Redemption Prices
(expressed as percentages of the principal amount):

 

If redeemed [on or before
                              ,
          %, and if redeemed]
during the 12-month period beginning                               
of the years indicated,

 

	
   

  	
   

  	
  REDEMPTION

  	
   

  
	
  YEAR

  	
   

  	
  PRICE

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  

 

and
thereafter at a Redemption Price equal to
          % of the principal
amount, together in the case of any such redemption [if applicable, insert— (whether
through operation of the sinking fund or otherwise)] with accrued and unpaid
interest to the Redemption Date, but interest installments whose Stated
Maturity is on or prior to such Redemption Date will be payable to the Holders
of such Securities, or one or more Predecessor Securities, of record at the
close of business on the relevant Record Dates referred to on the face hereof,
all as provided in the Indenture.]

 

9

 

[If
applicable, insert— The Securities of this series are subject to redemption
upon not less than 30 nor more than 60 days’ notice by first class mail, (1) on
                              
in any year commencing with the year
                    
and ending with the year
                    
through operation of the sinking fund for this series at the Redemption Prices
for redemption through operation of the sinking fund (expressed as percentages
of the principal amount) set forth in the table below, and (2) at any time
[on or after
                    ],
as a whole or in part, at the election of the Company, at the Redemption Prices
for redemption otherwise than through operation of the sinking fund (expressed
as percentages of the principal amount) set forth in the table below:

 

If redeemed during a 12-month
period beginning
                                  
of the years indicated,

 

	
  REDEMPTION PRICE

  	
   

  	
  REDEMPTION PRICE FOR

  	
   

  	
   

  	
   

  
	
  FOR REDEMPTION

  	
   

  	
  REDEMPTION OTHERWISE THAN

  	
   

  	
   

  	
   

  
	
  THROUGH OPERATION OF THE SINKING

  	
   

  	
  THROUGH OPERATION OF THE

  	
   

  	
   

  	
   

  
	
  FUND

  	
   

  	
  SINKING FUND

  	
   

  	
  YEAR

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

and thereafter at a
Redemption Price equal to
          % of the principal
amount, together in the case of any such redemption (whether through operation
of the sinking fund or otherwise) with accrued and unpaid interest to the
Redemption Date, but interest installments whose Stated Maturity is on or prior
to such Redemption Date will be payable to the Holders of such Securities, or
one or more Predecessor Securities, of record at the close of business on the
relevant Record Dates referred to on the face hereof, all as provided in the
Indenture.]

 

[Notwithstanding
the foregoing, the Company may not, prior to
                    ,
redeem any Securities of this series as contemplated by [clause (2) of]
the preceding paragraph as a part of, or in anticipation of, any refunding
operation by the application, directly or indirectly, of moneys borrowed having
an interest cost to the Company (calculated in accordance with generally
accepted financial practice) of less than
          % per annum.]

 

[The
sinking fund for this series provides for the redemption on
                    
in each year beginning with the year           
and ending with the year
           of [not less than]
$                              
[(“MANDATORY SINKING FUND”) and not more than
$                        ]
aggregate principal amount of Securities of this series.] [Securities of this
series acquired or redeemed by the Company otherwise than through [mandatory]
sinking fund payments may be credited against subsequent [mandatory] sinking
fund payments otherwise required to be made—in the inverse order in which they
become due.]

 

[In
the event of redemption of this Security in part only, a new Security or
Securities of this series for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof.]

 

[If
the Security is not an Original Issue Discount Security, insert— If any Event
of Default with respect to Securities of this series shall occur and be
continuing, the principal of the Securities of this series may be declared due
and payable in the manner and with the effect provided in the Indenture.]

 

[If
the Security is an Original Issue Discount Security, insert— If an Event of
Default with respect to Securities of this series shall occur and be
continuing, an amount of principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture. Such amount shall be equal —insert formula for determining the
amount. Upon payment (i) of the amount of principal so declared due and
payable and (ii) of interest on any overdue principal and overdue interest
(in each case to the extent that the payment of such interest shall be legally
enforceable), all of the Company’s obligations in respect of the payment of the
principal of and interest, if any, on the Securities of this series shall
terminate.]

 

[This
Security is subject to defeasance and covenant defeasance as described in the
Indenture [if applicable, insert — and the supplemental indenture].]

 

[This
Security is subject to satisfaction and discharge as provided in the Indenture
[if applicable, insert — and the supplemental indenture].]

 

[This
Security is subject to subordination as provided in the Indenture [if
applicable, insert — and the supplemental indenture].]

 

The Indenture may be modified
by the Company and the Trustee without consent of any Holder with respect to certain
matters as described in the Indenture. In addition, the Indenture permits, with
certain exceptions as therein provided, the amendment thereof and the
modification of the rights and obligations of the Company and the rights of the
Holders of the Securities of each series to be affected under the Indenture at
any time by the Company and the Trustee with the consent of the Holders of a
majority in principal amount of the Securities at the time Outstanding of each
series to be affected. The Indenture also contains provisions permitting the
Holders of a majority in principal amount of the Securities of each series at
the time Outstanding, on behalf of the Holders of all Securities of such
series, to waive compliance by the Company with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holder of this Security shall bind such
Holder and all future Holders of this Security and of any Security issued upon
the registration of transfer hereof or in exchange hereof or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

 

10

 

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

 

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

 

The Securities of this series
are issuable only in registered form without coupons in denominations of
[$1,000] and any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series
of a different authorized denomination, as requested by the Holder surrendering
the same.

 

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

 

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

 

The Indenture imposes certain
limitations on the ability of the Company to, among other things, merge or
consolidate with any other Person or sell, assign, transfer or lease all or
substantially all of its properties or assets [If other covenants are
applicable pursuant to the provisions of Section 3.01, insert here]. All
such covenants and limitations are subject to a number of important
qualifications and exceptions. The Company must report periodically to the
Trustee on compliance with the covenants in the Indenture.

 

A director, officer, employee
or stockholder, as such, of the Company shall not have any liability for any
obligations of the Company under this Security or the Indenture or for any
claim based on, in respect of or by reason of, such obligations or their
creation. Each Holder, by accepting a Security, waives and releases all such
liability. The waiver and release are part of the consideration for the
issuance of this Security.

 

[If
applicable, insert — A director, officer, employee or stockholder, as such, of
any Guarantor shall not have any liability for any obligations of the Company
or such Guarantor under this Security or the Indenture [if applicable, insert —
or the supplemental indenture] or for any claim based on, in respect of or by
reason of, such obligations or their creation. Each Holder, by accepting a
Security, waives and releases all such liability. The waiver and release are
part of the consideration for the issuance of this Security.]

 

[If
applicable, insert — This Security will be entitled to the benefits of certain
Guarantees made for the benefit of the Holders. Reference is hereby made to the
Indenture and the supplemental indenture for a statement of the respective
rights, limitations of rights, duties and obligations thereunder of the
Guarantors, if any, the Trustee and the Holders.]

 

[If
applicable, insert— Pursuant to a recommendation promulgated by the Committee
on Uniform Security Identification Procedures (“CUSIP”), the Company has caused
CUSIP numbers to be printed on the Securities of this series as a convenience
to the Holders of the Securities of this series. No representation is made as
to the correctness or accuracy of such numbers as printed on the Securities of
this series and reliance may be placed only on the other identification numbers
printed hereon.]

 

11

 

All terms used in this
Security which are defined in the Indenture shall have the meanings assigned to
them in the Indenture.

 

ASSIGNMENT FORM

 

To
assign this Security, fill in the form below: (I) or (we) assign and
transfer this Security to

 

	
   

  	
   

  	
   

  
	
  (Insert assignee’s social security or tax I.D. number)

  
	
   

  
	
   

  	
   

  	
   

  
	
   

  
	
   

  	
   

  	
   

  
	
  (Print or type assignee’s name, address and zip code)

  

 

and
irrevocably appoint
                                                                      
agent to transfer this Security on the books of the Company. The agent may
substitute another to act for him.

 

	
  Dated:

  	
   

  	
  Your Signature:      

  	
   

  	
   

  
	
   

  	
   

  	
  (Sign
  exactly as your name appears on

  
	
   

  	
   

  	
   the
  other side of this Security)

  

 

	
  Signature
  Guaranty:

  	
   

  	
   

  
	
   

  	
  [Signatures
  must be guaranteed by an “eligible

  
	
   

  	
  guarantor
  institution” meeting the requirements of

  
	
   

  	
  the
  Transfer Agent, which requirements will include

  
	
   

  	
  membership
  or participation in the Medallion Stamp

  
	
   

  	
  Program
  or such other “signature guarantee program”

  
	
   

  	
  as
  may be determined by the Transfer Agent in addition

  
	
   

  	
  to,
  or in substitution for, the Medallion Stamp Program,

  
	
   

  	
  all
  in accordance with the Exchange Act.]

  
	
   

  	
   

  
	
  Social
  Security Number or

  	
   

  
	
  Taxpayer
  Identification Number:

  	
   

  	
   

  

 

Section 2.04    Form of
Trustee’s Certificate of Authentication. The Trustee’s certificate of
authentication shall be in substantially the following form:

 

	
  Dated:

  	
   

  	
   

  	
   

  

 

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

 

	
   

  	
   

  
	
  As Trustee

  

 

 

	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  

 

Section 2.05   Securities in
Global Form. If Securities of or within a series are issuable in whole or in
part in global form, then any such Security of such series may provide that it
shall represent the aggregate or a specified amount of the Outstanding
Securities of such series from time to time endorsed thereon and may also
provide that the aggregate amount of Outstanding Securities of such series
represented thereby may from time

 

12

 

to time be reduced or increased to reflect exchanges. Any endorsement of
a Security in global form to reflect the amount, or any increase or decrease in
the amount, or changes in the rights of Holders, of Outstanding Securities
represented thereby shall be made in such manner and upon instructions given by
such Person or Persons as shall be specified therein or in the Company Order to
be delivered to the Trustee pursuant to Section 3.03 or Section 3.04.
Subject to the provisions of Section 3.03 and, if applicable, Section 3.04,
the Trustee shall deliver and redeliver any Security in permanent global form
in the manner and upon instructions given by the Person or Persons specified
therein or in the applicable Company Order. If a Company Order pursuant to Section 3.03
or 3.04 has been, or simultaneously is, delivered, any instructions by the
Company with respect to endorsement or delivery or redelivery of a Security in
global form shall be in writing but need not comply with Section 1.02 and
need not be accompanied by an Opinion of Counsel.

 

The provisions of the last
paragraph of Section 3.03 shall apply to any Security represented by a
Security in global form if such Security was never issued and sold by the
Company and the Company delivers to the Trustee the Security in global form
together with written instructions (which need not comply with Section 1.02
and need not be accompanied by an Opinion of Counsel) with regard to the
reduction in the principal amount of Securities represented thereby.

 

Notwithstanding the
provisions of Sections 2.01 and 3.07, unless otherwise specified as
contemplated by Section 3.01, payment of principal of and premium, if any,
and interest on any Security in permanent global form shall be made to the
Person or Persons specified therein.

 

Section 2.06   Form of
Legend for the Securities in Global Form. Any Security in global form
authenticated and delivered hereunder shall bear a legend in substantially the
following form, or in such other form as may be necessary or appropriate to
reflect the arrangements with or to comply with the requirements of any
Depositary:

 

“THIS
SECURITY IS IN GLOBAL FORM WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A
DEPOSITARY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
SECURITIES IN CERTIFICATED FORM IN THE LIMITED CIRCUMSTANCES DESCRIBED IN
THE INDENTURE, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY
THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY
TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR
ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY.”

 

ARTICLE
3

 

THE
SECURITIES

 

Section 3.01    Amount
Unlimited; Issuable in Series. The aggregate principal amount of Securities
which may be authenticated and delivered under this Indenture is unlimited.

 

The Securities may be issued
from time to time in one or more series. Prior to the issuance of Securities of
any series, there shall be established in or pursuant to (i) a Board
Resolution, (ii) action taken pursuant to a Board Resolution and (subject
to Section 3.03) set forth, or determined in the manner provided, in an
Officers’ Certificate, or (iii) one or more indentures supplemental
hereto:

 

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

 

(2) the
purchase price, denomination and any limit upon the aggregate principal amount
of the Securities of the series which may be authenticated and delivered under
this Indenture (except for Securities authenticated and delivered upon
registration of transfer of, or in exchange for, or in lieu of, other
Securities of the series pursuant to Sections 3.04, 3.05, 3.06, 9.06 or 11.07);

 

(3) the
date or dates on which the principal of and premium, if any, on the Securities
of the series is payable or the method of determination thereof;

 

(4) the
rate or rates at which the Securities of the series shall bear interest, if
any, or the method of calculating such rate or rates of interest, the date or
dates from which such interest shall accrue or the method by which such date or
dates shall be determined, the Interest Payment Dates on which any such
interest shall be payable and the Regular Record Date, if any, for the interest
payable on any Interest Payment Date;

 

(5) the
place or places where the principal of, premium, if any, and interest, if any,
on Securities of the series shall be payable;

 

(6) the
place or places where the Securities may be exchanged or transferred;

 

(7) the
period or periods within which, the price or prices at which, the currency or
currencies (including currency unit or units) in which, and the other terms and
conditions upon which Securities of the series may be redeemed, in whole or in
part, at the option of the Company, and, if other than as provided in Section 11.03,
the manner in which the particular Securities of such series (if less than all
Securities of such series are to be redeemed) are to be selected for
redemption;

 

13

 

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

 

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

 

(10) if
other than U.S. dollars, the currency or currencies (including currency unit or
units) in which payments of principal of, premium, if any, and interest on the
Securities of the series shall or may by payable, or in which the Securities of
the series shall be denominated, and the particular provisions applicable
thereto;

 

(11)
if the payments of principal of, premium, if any, or interest on the Securities
of the series are to be made, at the election of the Company or a Holder, in a
currency or currencies (including currency unit or units) other than that in
which such Securities are denominated or designated to be payable, the currency
or currencies (including currency unit or units) in which such payments are to
be made, the terms and conditions of such payments and the manner in which the
exchange rate with respect to such payments shall be determined, and the
particular provisions applicable thereto;

 

(12)
if the amount of payments of principal of, premium, if any, and interest on the
Securities of the series shall be determined with reference to an index,
formula or other method (which index, formula or method may be based, without
limitation, on a currency or currencies (including currency unit or units) other
than that in which the Securities of the series are denominated or designated
to be payable), the index, formula or other method by which such amounts shall
be determined;

 

(13)
if other than the principal amount thereof, the portion of the principal amount
of Securities of the series which shall be payable upon declaration of
acceleration of the Maturity thereof pursuant to Section 5.02 or the
method by which such portion shall be determined;

 

(14)
any modifications of or additions to the Events of Default or the covenants of
the Company set forth herein with respect to Securities of the series and
whether and the conditions under which the Holders of the Securities of the
series may waive any such Event of Default or compliance with any such covenant
relating to the Securities of such series;

 

(15)
if either or both of Section 13.02 and Section 13.03 shall be
inapplicable, in whole or in part, to the Securities of the series (provided
that if no such inapplicability shall be specified, then both Section 13.02
and Section 13.03 shall be applicable to the Securities of the series) and
any modification to either such section as it relates to such series of
Securities;

 

(16)
if other than the Trustee, the identity of the Registrar and any Paying Agent;

 

(17)
if the Securities of the series shall be issued in whole or in part in global
form, (i) the Depositary for such global Securities, (ii) the form of
any legend in addition to or in lieu of that in Section 2.06 which shall
be borne by such global Security, (iii) whether beneficial owners of
interests in any Securities of the series in global form may exchange such
interests for certificated Securities of such series and of like tenor of any
authorized form and denomination, and (iv) if other than as provided in Section 3.05,
the circumstances under which any such exchange may occur;

 

(18)
if the Holders of the Securities of the series may convert or exchange the
Securities of the series into or for securities of the Company or of other
entities or other property (or the cash value thereof), the specific terms of
and period during which such conversion or exchange may be made;

 

(19)
if the Securities of the series shall have the benefits of any Guarantee and,
if so, the identity of the Guarantor or Guarantors and the terms and provisions
applicable to any such Guarantee;

 

(20)
any provisions for the satisfaction and discharge of the Securities of the
series, including provisions in addition to or modifying the provisions of Article 4
as they pertain to Securities of the series;

 

(21)
any addition to or change in the covenants set forth in Article 10 which
applies to Securities of the series;

 

(22)
the subordination of the Securities of such series to other Indebtedness of the
Company, including without limitation, the Securities of any other series; and

 

(23)
any other terms of the series, including any terms which may be required by or
advisable under the laws of the United States of America or regulations
thereunder or advisable (as determined by the Company) in connection with the
marketing of Securities of the series.

 

All Securities of any one
series shall be substantially identical except as to denomination and except as
may otherwise be provided (i) by a Board Resolution, (ii) by action
taken pursuant to a Board Resolution and (subject to Section 3.03) set
forth, or determined in the manner provided, in

 

14

 

an
Officers’ Certificate or (iii) in any such indenture supplemental hereto.
All Securities of any one series need not be issued at the same time and,
unless otherwise provided, a series may be reopened, without the consent of the
Holders, for issuances of additional Securities of such series.

 

If any of the terms of the
Securities of any series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified
by the Secretary or an Assistant Secretary of the Company and delivered to the
Trustee at or prior to the delivery of the Officers’ Certificate setting forth,
or providing the manner for determining, the terms of the Securities of such
series, and an appropriate record of any action taken pursuant thereto in
connection with the issuance of any Securities of such series shall be
delivered to the Trustee prior to the authentication and delivery thereof.

 

Section 3.02    Denominations.
The Securities of each series shall be issuable in registered form without
coupons in such denominations as shall be specified as contemplated by Section 3.01.
In the absence of any such provisions with respect to the Securities of any
series, the Securities of such series shall be issuable in denominations of
$1,000 and any integral multiple thereof.

 

Section 3.03    Execution,
Authentication, Delivery and Dating. The Securities shall be executed on behalf
of the Company by its Chairman of the Board, its Chief Executive Officer, its
President, its Chief Financial Officer, or its Chief Accounting Officer
attested by its Secretary or one of its Assistant Secretaries. The signature of
any of these officers on the Securities may be manual or facsimile.
Typographical and other minor errors or defects in any such reproduction of the
seal or any such signature shall not affect the validity or enforceability of
any Security that has been duly authenticated and delivered by the Trustee.

 

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

 

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 Company Order for the authentication and
delivery of such Securities, and the Trustee in accordance with the Company
Order shall authenticate and make such Securities available for delivery. If
the form or terms of the Securities of the series have been established in or
pursuant to one or more Board Resolutions as permitted by Sections 2.01 and
3.01, in authenticating such Securities, and accepting the additional
responsibilities under this Indenture in relation to such Securities, the
Trustee shall be entitled to receive, and (subject to Sections 315(a) through
(d) of the Trust Indenture Act) shall be fully protected in relying upon,
an Opinion of Counsel stating (subject to customary assumptions, conditions and
exceptions):

 

(a) if the terms of such
Securities have been established by or pursuant to Board Resolution as
permitted by Section 3.01, that such terms have been established in
conformity with the provisions of this Indenture; and

 

(b) that such
Securities, when authenticated and delivered by the Trustee and issued by the
Company in the manner and subject to any conditions specified in such Opinion
of Counsel, will constitute valid and legally binding obligations of the
Company, enforceable in accordance with their terms, except to the extent
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance and other similar laws
affecting the enforcement of creditors’ rights generally and by the effect of
general principles of equity (regardless of whether enforceability is
considered in a proceeding in equity or at law).

 

If such terms have been so
established, the Trustee shall not be required to authenticate such Securities
if the issue of such Securities pursuant to this Indenture will affect the
Trustee’s own rights, duties or immunities under the Securities and this
Indenture or otherwise in a manner which is not reasonably acceptable to the
Trustee, or in the written opinion of counsel to the Trustee (which counsel may
be an employee of the Trustee) such authentication may not lawfully be made or
would involve the Trustee in personal liability.

 

Notwithstanding the
provisions of Section 3.01 and of the immediately preceding paragraph, if
all Securities of a series are not to be originally issued at one time, it
shall not be necessary to deliver the Board Resolution and the Officers’
Certificate otherwise required pursuant to Section 3.01 or the Company
Order and Opinion of Counsel otherwise required pursuant to the second
preceding paragraph at or prior to the time of authentication of each Security
of such series if such documents are delivered at or prior to the
authentication upon original issuance of the first Security of such series to
be issued.

 

If the Company shall
establish pursuant to Section 3.01 that the Securities of a series are to
be issued in whole or in part in the form of one or more global Securities,
then the Company shall execute and the Trustee shall, in accordance with this Section and
the Company Order with respect to the authentication and delivery of such
series, authenticate and deliver one or more Securities of such series in
global form that (i) shall be in an aggregate amount equal to the
aggregate principal amount of the Outstanding Securities of such series to be
represented by such Security or Securities in global form, (ii) shall be
registered in the name of the Depositary for such Security or Securities in
global form or its nominee, and (iii) shall be made available for delivery
by the Trustee to such Depositary or pursuant to such Depositary’s instruction.

 

The Trustee shall have no
responsibility to determine if the Depositary is so registered. Each Depositary
shall enter into an agreement with the Trustee and the Company governing the
respective duties and rights of such Depositary, the Company and the Trustee
with regard to Securities issued in global form.

 

Unless otherwise provided for
in the form of Security, each Security shall be dated the date of its
authentication.

 

15

 

No Security shall be entitled
to any benefits under this Indenture or be valid or obligatory for any purpose
unless there appears on such Security a certificate of authentication
substantially in the form provided for herein executed by the Trustee or an Authenticating
Agent by manual signature, and such certificate upon any Security shall be
conclusive evidence, and the only evidence, that such Security has been duly
authenticated and delivered hereunder and is entitled to the benefits of this
Indenture.

 

Notwithstanding the
foregoing, if any Security shall have been authenticated and delivered
hereunder but never issued and sold by the Company, and the Company shall
deliver such Security to the Trustee for cancellation as provided in Section 3.09
together with a written statement (which need not comply with Section 1.02
and need not be accompanied by an Opinion of Counsel) stating that such
Security has never been issued and sold by the Company, for all purposes of
this Indenture such Security shall be deemed never to have been authenticated
and delivered hereunder and shall not be entitled to the benefits of this
Indenture.

 

Section 3.04   Temporary
Securities. Pending the preparation of definitive Securities of any series, the
Company may execute, and upon Company Order the Trustee shall authenticate and
make available for delivery, temporary Securities of such series which are
printed, lithographed, typewritten, mimeographed or otherwise produced, in any
authorized denomination, substantially of the tenor of the definitive
Securities in lieu of which they are issued and with such appropriate
insertions, omissions, substitutions and other variations as the officers
executing such Securities may determine, as evidenced by their execution of
such Securities.

 

In the case of Securities of
any series, such temporary Securities may be in global form, representing all
or a portion of the Outstanding Securities of such series.

 

Except in the case of
temporary Securities in global form (which shall be exchanged in accordance
with the provisions thereof), if temporary Securities of any series are issued,
the Company will cause definitive Securities of that series to be prepared
without unreasonable delay. After the preparation of definitive Securities of
such series, the temporary Securities of such series shall be exchangeable for
definitive Securities of such series upon surrender of the temporary Securities
of such series at the office or agency of the Company in a Place of Payment for
that series, without charge to the Holder. Upon surrender for cancellation of
any one or more temporary Securities of any series, the Company shall execute
and the Trustee shall authenticate and make available for delivery in exchange
therefor a like principal amount of definitive Securities of the same series of
authorized denominations and of like tenor. Until so exchanged, the temporary
Securities of any series shall in all respects be entitled to the same benefits
under this Indenture as definitive Securities of such series.

 

Section 3.05   Registration,
Registration of Transfer and Exchange. The Company shall cause to be kept at
the Corporate Trust Office of the Trustee or in any office or agency to be
maintained by the Company in accordance with Section 10.02 in a Place of
Payment a register (the register maintained in such office and in any other
office or agency of the Company in a Place of Payment being herein sometimes
collectively referred to as the “SECURITY REGISTER”) in which, subject to such
reasonable regulations as it may prescribe, the Company shall provide for the
registration of Securities and of registration of transfers of Securities. The
Trustee is hereby appointed “SECURITY REGISTRAR” for the purpose of registering
Securities and transfers of Securities as herein provided.

 

Upon surrender for
registration of transfer of any Security of any series at the office or agency
of the Company in a Place of Payment for that series, the Company shall
execute, and the Trustee shall authenticate and make available for delivery, in
the name of the designated transferee or transferees, one or more new
Securities of the same series, of any authorized denominations and of a like
aggregate principal amount and Stated Maturity.

 

At the option of the Holder,
Securities of any series (except a Security in global form) may be exchanged
for other Securities of the same series, of any authorized denominations and of
a like aggregate principal amount and Stated Maturity, upon surrender of the
Securities to be exchanged at such office or agency. Whenever any Securities
are so surrendered for exchange, the Company shall execute, and the Trustee
shall authenticate and make available for delivery, the Securities which the
Holder making the exchange is entitled to receive.

 

Each Security issued in global
form authenticated under this Indenture shall be registered in the name of the
Depositary designated for such series or a nominee thereof and delivered to
such Depositary or a nominee thereof or custodian therefor, and each such
Security issued in global form shall constitute a single Security for all
purposes of this Indenture.

 

Notwithstanding any other
provision of this Section, unless and until it is exchanged in whole or in part
for Securities in certificated form in the circumstances described below, a
Security in global form representing all or a portion of the Securities of a
series may not be transferred except as a whole by the Depositary for such
series to a nominee of such Depositary or by a nominee of such Depositary to
such Depositary or another nominee of such Depositary or by such Depositary or
any such nominee to a successor Depositary for such series or a nominee of such
successor Depositary.

 

If at any time the Depositary
for the Securities of a series notifies the Company that it is unwilling or
unable to continue as Depositary for the Securities of such series or defaults
in the performance of its duties as Depositary or it at any time the Depositary
for the Securities of such series shall no longer be eligible to perform such
duties, the Company shall appoint a successor Depositary with respect to the
Securities of such series. If a successor Depositary for the Securities of such
series is not appointed by the Company within 90 days after the Company
receives such notice or becomes aware of such ineligibility, the Company’s
selection pursuant to Section 3.01(17) shall no longer be effective with
respect to the Securities of such series and the Company shall execute, and the
Trustee, upon receipt of a Company Order for the authentication and delivery of
certificated Securities of such series of like tenor, shall authenticate and
deliver Securities of such series of like tenor in certificated form, in authorized

 

16

 

denominations
and in an aggregate principal amount equal to the principal amount of the
Security or Securities of such series of like tenor in global form in exchange
for such Security or Securities in global form.

 

The Company may at any time
in its sole discretion determine that Securities issued in global form shall no
longer be represented by such a Security or Securities in global form. In such
event the Company shall execute, and the Trustee, upon receipt of a Company
Order for the authentication and delivery of certificated Securities of such
series of like tenor, shall authenticate and deliver, Securities of such series
of like tenor in certificated form, in authorized denominations and in an
aggregate principal amount equal to the principal amount of the Security or Securities
of such series of like tenor in global form in exchange for such Security or
Securities in global form.

 

If specified by the Company
pursuant to Section 3.01 with respect to a series of Securities, the
Depositary for such series may surrender a Security in global form of such
series in exchange in whole or in part for Securities of such series in
certificated form on such terms as are acceptable to the Company and such
Depositary. Thereupon, the Company shall execute, and the Trustee shall authenticate
and deliver, without service charge,

 

(i) to each Person
specified by such Depositary a new certified Security or Securities of the same
series of like tenor, of any authorized denomination as requested by such
Person in aggregate principal amount equal to and in exchange for such Person’s
beneficial interest in the Security in global form; and

 

(ii) to such Depositary
a new Security in global form of like tenor in a denomination equal to the
difference, if any, between the principal amount of the surrendered Security in
global form and the aggregate principal amount of certificated Securities
delivered to Holders thereof.

 

Upon the exchange of a
Security in global form for Securities in certificated form, such Security in
global form shall be canceled by the Trustee.

 

Securities issued in exchange
for a Security in global form pursuant to this Section shall be registered
in such names and in such authorized denominations as the Depositary for such
Security in global form, pursuant to instructions from its direct or indirect
participants or otherwise, shall instruct the Trustee. The Trustee shall
deliver such Securities to the Persons in whose names such Securities are so
registered.

 

Whenever any Securities are
surrendered for exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Securities which the Holder making the exchange
is entitled to receive.

 

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

 

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

 

Unless otherwise provided in
the Securities to be transferred or exchanged, no service charge shall be made
for any registration of transfer or exchange of Securities, but the Company may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or
exchange of Securities, other than exchanges pursuant to Section 3.04,
9.06 or 11.07 not involving any transfer.

 

If the Securities of any
series (or of any series and specified tenor) are to be redeemed in part, the
Company shall not be required (i) to issue, register the transfer of or
exchange Securities of such series during a period beginning at the opening of
business 15 days before the day of the mailing of a notice of redemption of
Securities of that series selected for redemption under Section 11.03 and
ending at the close of business on the day of such mailing, or (ii) to
register the transfer of or exchange any Security so selected for redemption,
in whole or in part, except the unredeemed portion of any Security being
redeemed in part.

 

The foregoing provisions
relating to registration, transfer and exchange may be modified, supplemented
or superseded with respect to any series of Securities by a Board Resolution or
in one or more indentures supplemental hereto.

 

Section 3.06   Mutilated,
Destroyed, Lost and Stolen Securities. If any mutilated Security is surrendered
to the Trustee, the Company shall execute and the Trustee shall authenticate
and deliver in exchange therefor a new Security of the same series and of like
tenor and principal amount and bearing a number not contemporaneously
outstanding.

 

If there shall be delivered
to the Company and the Trustee (i) evidence to their satisfaction of the
destruction, loss or theft of any Security and (ii) such security or
indemnity as may be required by them to save each of them and any agent of
either of them harmless, then, in the absence of notice to the Company or the
Trustee that such Security has been acquired by a bona fide purchaser, the
Company shall execute and upon its request the Trustee shall authenticate and
deliver, in lieu of any such destroyed, lost or stolen Security, a new Security
of the same series and of like tenor and principal amount and bearing a number
not contemporaneously outstanding.

 

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

 

17

 

Upon the issuance of any new
Security under this Section, the Company may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the
Trustee) connected therewith.

 

Every new Security of any
series issued pursuant to this Section in lieu of any destroyed, lost or
stolen Security shall constitute an original additional contractual obligation
of the Company, whether or not the destroyed, lost or stolen Security shall be
at any time enforceable by anyone, and shall be entitled to all the benefits of
this Indenture equally and proportionately with any and all other Securities of
that series duly issued hereunder.

 

The provisions of this Section are
exclusive and shall preclude (to the extent lawful) all other rights and
remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities.

 

Section 3.07   Payment of
Interest; Interest Rights Preserved. Interest on any Security which is payable,
and is punctually paid or duly provided for, on any Interest Payment Date shall
be paid to the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest.

 

Any interest on any Security
of any series which is payable, but is not punctually paid or duly provided
for, on any Interest Payment Date (herein called “DEFAULTED INTEREST”) shall
forthwith cease to be payable to the Holder on the relevant Regular Record Date
by virtue of having been such Holder, and such Defaulted Interest may be paid
by the Company, at its election in each case, as provided in Clause (1) or
(2) below:

 

(1) The
Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on a Special Record Date
for the payment of such Defaulted Interest, which shall be fixed in the
following manner. The Company shall notify the Trustee in writing of the amount
of Defaulted Interest proposed to be paid on each Security of such series and
the date of the proposed payment (which shall be not less than 25 days after
the receipt by the Trustee of such notice, unless such Trustee shall consent to
an earlier date), and at the same time the Company shall deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or shall make arrangements reasonably
satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this Clause provided.
Thereupon the Trustee shall fix a Special Record Date for the payment of such
Defaulted Interest which shall be not more than 15 days and not less than 10
days prior to the date of the proposed payment and not less than 10 days after
the receipt by the Trustee of the notice of the proposed payment. The Trustee
shall promptly notify the Company of such Special Record Date and, in the name
and at the reasonable expense of the Company, shall cause notice of the
proposed payment of such Defaulted Interest and the Special Record Date
therefor to be mailed, first-class postage prepaid, to each Holder of
Securities of such series at his address as it appears in the Security
Register, not less than 10 days prior to such Special Record Date. Notice of
the proposed payment of such Defaulted Interest and the Special Record Date
therefor having been so mailed, such Defaulted Interest shall be paid to the
Persons in whose names the Securities of such series (or their respective
Predecessor Securities) are registered at the close of business on such Special
Record Date and shall no longer be payable pursuant to the following Clause
(2).

 

(2) The
Company may make payment of any Defaulted Interest on the Securities of any
series in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may be listed, and upon such
notice as may be required by such exchange, if, after notice given by the
Company to the Trustee of the proposed payment pursuant to this Clause (2),
such manner of payment shall be deemed practicable by the Trustee.

 

Subject to the foregoing
provisions of this Section, each Security delivered under this Indenture upon
registration of transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest accrued and unpaid, and to accrue, which
were carried by such other Security.

 

Section 3.08   Persons Deemed
Owners. Prior to due presentment of a Security for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name such Security is registered as the owner of such
Security for the purpose of receiving payment of principal of, premium, if any,
and (subject to Sections 3.05 and 3.07) interest on such Security and for all
other purposes whatsoever, whether or not such Security be overdue, and neither
the Company, the Trustee nor any agent of the Company or the Trustee shall be
affected by notice to the contrary.

 

None of the Company, the
Trustee or any agent of the Company or the Trustee shall have any
responsibility or liability for any aspect of the records relating to or
payments made on account of beneficial ownership interest of a Security in
global form, or for maintaining, supervising or reviewing any records relating
to such beneficial ownership interest. Notwithstanding the foregoing, with
respect to any Security in global form, nothing herein shall prevent the
Company or the Trustee or any agent of the Company or the Trustee, from giving
effect to any written certification, proxy or other authorization furnished by
any Depositary (or its nominee), as a Holder, with respect to such Security in
global form or impair, as between such Depositary and owners of beneficial
interests in such Security in global form, the operation of customary practices
governing the exercise of the right of such Depositary (or its nominee) as
holder of such Security in global form.

 

Section 3.09   Cancellation.
All Securities surrendered for payment, redemption, registration of transfer or
exchange or for credit against any sinking fund payment shall, if surrendered
to any Person other than the Trustee, be delivered to the Trustee and shall be
promptly canceled by it. The Company may at any time deliver to the Trustee for
cancellation any Securities previously authenticated and delivered hereunder
which the

 

18

 

Company may have acquired in any manner whatsoever, and all Securities
so delivered shall be promptly canceled by the Trustee. No Securities shall be
authenticated in lieu of or in exchange for any Securities canceled as provided
in this Section, except as expressly permitted by this Indenture. All canceled
Securities shall be held by the Trustee and may be destroyed (and, if so
destroyed, certification of their destruction shall be delivered to the
Company, unless, by a Company Order, the Company shall direct that canceled
Securities be returned to it).

 

Section 3.10   Computation of
Interest. Except as otherwise specified as contemplated by Section 3.01
for Securities of any series, interest on the Securities of each series shall
be computed on the basis of a year of twelve 30-day months.

 

Section 3.11   CUSIP Number.
The Company in issuing Securities of any series may use a “CUSIP” number, and
if so, the Trustee may use the CUSIP number in notices of redemption or
exchange as a convenience to Holders of such series; provided, that any such
notice may state that no representation is made as to the correctness or
accuracy of the CUSIP number printed on the notice or on the Securities of such
series, 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. The Company will
promptly notify the Trustee of any change in the CUSIP number of any series of
Securities.

 

Section 3.12   Wire Transfers.
Notwithstanding any other provision to the contrary in this Indenture, the
Company may make any payment of moneys required to be deposited with the
Trustee on account of principal of, or premium, if any, or interest on the
Securities (whether pursuant to optional or mandatory redemption payments,
interest payments or otherwise) by wire transfer of immediately available funds
to an account designated by the Trustee on or before the date and time such
moneys are to be paid to the Holders of the Securities in accordance with the
terms hereof.

 

ARTICLE 4

SATISFACTION AND DISCHARGE

 

Section 4.01   Satisfaction
and Discharge of Indenture. This Indenture shall cease to be of further effect
(except as to any surviving rights of registration of transfer or exchange of
Securities and replacement of such Securities which may have been lost, stolen
or mutilated as herein expressly provided for or in the form of Security for
such series), when the Trustee, upon Company Request and at the expense of the
Company, shall execute proper instruments acknowledging satisfaction and discharge
of this Indenture, when

 

(1) either
(a) all Securities theretofore authenticated and delivered (other than (i) Securities
which have been destroyed, lost or stolen and which have been replaced or paid
as provided in Section 3.06 and (ii) Securities for whose payment
money has theretofore been deposited in trust or segregated and held in trust
by the Company and thereafter repaid to the Company or discharged from such
trust, as provided in Section 10.05) have been delivered to the Trustee
for cancellation; or (b) all such Securities not theretofore delivered to
the Trustee for cancellation (i) have become due and payable, or (ii) will
become due and payable at their Stated Maturity within one year, or (iii) are
to be called for redemption within one year under arrangements reasonably
satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the reasonable expense, of the Company, and the
Company, in the case of (b)(i), (ii) or (iii) above, has deposited
with the Trustee as trust funds in trust for the purpose an amount, in the
currency or currencies or currency unit or units in which the Securities of
such series are payable, sufficient to pay and discharge the entire
indebtedness on such Securities not theretofore delivered to the Trustee for
cancellation, for principal, premium, if any, and interest to the date of such
deposit (in the case of Securities which have become due and payable) or the
Stated Maturity or Redemption Date, as the case may be;

 

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

 

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

 

(4) no
event or condition shall exist on the date of such deposit that, pursuant to
the provisions of Section 14.03, would prevent the Company from making
payments of the principal of or interest on the Securities of such series on
the date of such deposit.

 

Notwithstanding the
satisfaction and discharge of this Indenture, the obligations of the Company to
the Trustee under Section 6.07, the obligations of the Company to any Authenticating
Agent under Section 6.14 and, if money shall have been deposited with the
Trustee pursuant to subclause (b) of clause (1) of this Section, the
obligations of the Trustee under Section 4.02 and the last paragraph of Section 10.05
shall survive.

 

Section 4.02   Application of
Trust Money. Subject to the provisions of the last paragraph of Section 10.05,
all money deposited with the Trustee pursuant to Section 4.01 shall be
held in trust and applied by it, in accordance with the provisions of the Securities
and this Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal (and premium, if
any) and interest for whose payment such money has been deposited with or
received by the Trustee, but such money need not be segregated from other funds
except to the extent required by law.

 

Section 4.03   Application to
a Specific Series of Securities. The Company may elect to satisfy and
discharge its obligations with respect to a specific series of Securities under
the Indenture by complying with the terms of Article 4. If the Company
makes such election, (a) the terms of 

 

19

 

Section 4.01 and 4.02 shall apply only to the specific series of
Securities and the terms of the Indenture as it relates to such series of
Securities and (b) the other Securities issued hereunder and the Indenture
as it relates to such other Securities shall remain in full force and effect.

 

ARTICLE 5

REMEDIES

 

Section 5.01   Events of
Default. Except as otherwise specified as contemplated by Section 3.01 for
Securities of a series, “EVENT OF DEFAULT,” wherever used herein with respect
to Securities of any series, means any one of the following events (whatever
the reason for such Event of Default and whether it shall be voluntary or
involuntary or to be effected by reason of Article 14 hereof or by
operation of law or pursuant to any judgment, decree or order of any court or
any order, rule or regulation of any administrative or governmental body):

 

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

 

(2) the
Company defaults in the payment of the principal of, or premium, if any, on any
Security of that series when the same becomes due and payable at Maturity or on
redemption or otherwise; or

 

(3) the
Company fails to deposit any sinking fund payment, for five days after it
becomes due by the terms of a Security of that series; or

 

(4) the
Company fails to observe or perform in any material respect any of its other
covenants, agreements or warranties in the Securities of that series or this
Indenture (other than a covenant, agreement or warranty a default in whose
performance or whose breach is elsewhere in this Section specifically
dealt with or which has expressly been included in this Indenture solely for
the benefit of series of Securities other than that series), and the failure to
observe or perform continues for the period and after the notice specified in
the last paragraph of this Section; or

 

(5) an
event of default, as defined in any mortgage, indenture, or instrument under
which there may be issued, or by which there may be secured or evidenced, any
Indebtedness of the Company (including Securities of another series) (other
than the Securities of such series) (whether such Indebtedness now exists or
shall hereafter be created or incurred) shall occur, which event of default (i) is
caused by a failure to pay principal of or premium, if any, or interest on such
Indebtedness at final maturity after the expiration of the grace period
provided in such Indebtedness on the date of such event of default, and (ii) results
in Indebtedness becoming or being declared due and payable prior to the date on
which it would otherwise become due and payable, and such default in payment is
not cured or such acceleration shall not be rescinded or annulled within 30
days after written notice to the Company from the Trustee or to the Company and
to the Trustee from the Holders of at least twenty-five percent in aggregate
principal amount of the Outstanding Securities of that series specifying such
event of default and requiring the Company to cure such default in payment or
cause such acceleration to be rescinded or annulled and stating that such
notice is a “NOTICE OF DEFAULT” hereunder; provided, however, that it shall not
be an Event of Default if the principal amount of Indebtedness which is not
paid at maturity or the maturity of which is accelerated is equal to or less
than $50,000,000; provided further that if, prior to a declaration of
acceleration of the maturity of the Securities of that series or the entry of
judgment in favor of the Trustee in a suit pursuant to Section 5.03, such
default shall be remedied or cured by the Company or waived by the holders of
such Indebtedness, then the Event of Default hereunder by reason thereof shall
be deemed likewise to have been thereupon remedied, cured or waived without
further action upon the part of either the Trustee or any of the Holders of the
Securities of that series; or

 

(6) the
Company or any of its Significant Subsidiaries pursuant to or within the
meaning of any Bankruptcy Law (a) commences a voluntary case or proceeding
under any Bankruptcy Law with respect to itself, (b) consents to the entry
of a judgment, decree or order for relief against it in an involuntary case or
proceeding under any Bankruptcy Law, (c) consents to or acquiesces in the
institution of bankruptcy or insolvency proceedings against it, (d) applies
for, consents to or acquiesces in the appointment of or taking possession by a
Custodian of it or for all or substantially all of its property, (e) makes
a general assignment for the benefit of its creditors or (f) takes any
corporate action in furtherance of or to facilitate, conditionally or
otherwise, any of the foregoing; or

 

(7) (i) a
court of competent jurisdiction enters a judgment, decree or order for relief
in an involuntary case or proceeding under any Bankruptcy Law which shall (a) approve
as properly filed a petition seeking reorganization, arrangement, adjustment or
composition in respect of the Company or any of its Significant Subsidiaries, (b) appoint
a Custodian of the Company or any of its Significant Subsidiaries or for all or
substantially all of its property or (c) order the winding-up or
liquidation of affairs of the Company or any of its Significant Subsidiaries,
and such judgment, decree or order shall remain unstayed and in effect for a
period of 90 consecutive days; or (ii) any bankruptcy or insolvency
petition or application is filed, or any bankruptcy or insolvency proceeding is
commenced, against the Company or any of its Significant Subsidiaries and such
petition, application or proceeding is not dismissed within 60 days; or (iii) a
warrant of attachment is issued against any material portion of the property of
the Company or any of its Significant Subsidiaries which is not released within
60 days of service; or

 

(8) any
other Event of Default provided with respect to Securities of that series.

 

A Default under clause (4) above
is not an Event of Default until the Trustee or the Holders of at least twenty-five
percent in aggregate principal amount of the Outstanding Securities of that
series notify the Company of the Default and the Company does not cure the
Default within 60 

 

20

 

days
after receipt of the notice. The notice must specify the Default, demand that
it be remedied and state that the notice is a “NOTICE OF DEFAULT.” When a
Default under clause (4) above is cured within such 60-day period, it
ceases to be a Default.

 

Section 5.02   Acceleration of
Maturity; Rescission and Annulment. If an Event of Default with respect to
Securities of any series (other than an Event of Default specified in clause (6) or
(7) of Section 5.01) occurs and is continuing, the Trustee by notice
in writing to the Company, or the Holders of at least twenty-five percent in
aggregate principal amount of the Outstanding Securities of that series by
notice in writing to the Company and the Trustee, may declare the unpaid
principal of and accrued interest to the date of acceleration (or, if the
Securities of that series are Original Issue Discount Securities, such portion
of the principal amount as may be specified in the terms of that series) on all
the Outstanding Securities of that series to be due and payable immediately and,
upon any such declaration, the Outstanding Securities of that series (or
specified principal amount) shall become and be immediately due and payable.

 

If an Event of Default
specified in clause (6) or (7) of Section 5.01 occurs, all
unpaid principal of and accrued interest on the Outstanding Securities of that
series (or specified principal amount) shall ipso facto become and be
immediately due and payable without any declaration or other act on the part of
the Trustee or any Holder of any Security of that series.

 

Upon payment of all such
principal and interest, all of the Company’s obligations under the Securities
of that series and (upon payment of the Securities of all series) this
Indenture shall terminate, except obligations under Section 6.07.

 

At any time after a
declaration of acceleration of Maturity with respect to Securities of any
series has been made and before a judgment or decree for payment of the money
due has been obtained by the Trustee as hereinafter in this Article provided,
the Holders of a majority in principal amount of the Outstanding Securities of
that series by notice to the Trustee may rescind an acceleration and its
consequences if (i) all existing Events of Default, other than the
nonpayment of the principal of and interest on the Securities of that series
that has become due solely by such declaration of acceleration, have been cured
or waived, (ii) to the extent the payment of such interest is lawful,
interest on overdue installments of interest and overdue principal that has become
due otherwise than by such declaration of acceleration have been paid, (iii) the
rescission would not conflict with any judgment or decree of a court of
competent jurisdiction and (iv) all payments due to the Trustee and any
predecessor Trustee under Section 6.07 have been made.

 

Section 5.03   Collection of
Indebtedness and Suits for Enforcement by Trustee.  The Company covenants that if:

 

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

 

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

 

(3) default is made in the payment of any sinking
or analogous obligation when the same becomes due by the terms of the
Securities of any series, and any such default continues for any period of
grace provided with respect to the Securities of such series, the Company will,
upon demand of the Trustee, pay to it, for the benefit of the Holders of such
Securities, the whole amount then due and payable on such Securities for
principal (and premium, if any) and interest and, to the extent that payment of
such interest shall be legally enforceable, interest on any overdue principal
(and premium, if any) and on any overdue interest, at the rate or rates
prescribed therefor in such Securities, and, in addition thereto, such further
amount as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel.

 

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

 

If an Event of Default with
respect to Securities of any series occurs and is continuing, the Trustee may
in its discretion proceed to protect and enforce its rights and the rights of
the Holders of Securities of such series by such appropriate judicial
proceedings as the Trustee shall deem most effectual to protect and enforce any
such rights, whether for the specific enforcement of any covenant or agreement
in this Indenture or in aid of the exercise of any power granted herein, or to
secure any other proper remedy.

 

Section 5.04   Trustee May File
Proofs of Claim. In case of the pendency of any receivership, insolvency,
liquidation, bankruptcy, reorganization, arrangement, adjustment, composition
or other judicial proceeding relative to the Company or any other obligor upon
the Securities or the property of the Company or of such other obligor or their
creditors, the Trustee (irrespective of whether the principal of the Securities
shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand on
the Company for the payment of overdue principal or interest) shall be entitled
and empowered, by intervention in such proceeding or otherwise,

 

(i) to file and prove a
claim for the whole amount of principal (and premium, if any) and interest
owing and unpaid in respect of the Securities and to file such other papers or
documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim 

 

21

 

for
the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agent and counsel) and of the Holders allowed in such judicial
proceedings, and

 

(ii) to collect and
receive any moneys or other property payable or deliverable on any such claims
and to distribute the same; and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such judicial
proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due it for
the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.07.

 

Nothing herein contained
shall be deemed to authorize the Trustee to authorize or consent to or accept
or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder
thereof or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding.

 

Section 5.05   Trustee May Enforce
Claims Without Possession of Securities. All rights of action and claims under
this Indenture or the Securities may be prosecuted and enforced by the Trustee
without the possession of any of the Securities or the production thereof in
any proceeding relating thereto, and any such proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and any
recovery of judgment shall, after provision for the payment of the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, be for the ratable benefit of the Holders of the Securities in
respect of which such judgment has been recovered.

 

Section 5.06   Application of
Money Collected. Any money collected by the Trustee pursuant to this Article in
respect of the Securities of any series shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the
distribution of such money on account of principal, premium, if any, or
interest, upon presentation of the Securities in respect of which moneys have
been collected and the notation thereon of the payment if only partially paid
and upon surrender thereof if fully paid:

 

First:  To the payment of all amounts due the Trustee
under Section 6.07 applicable to such series;

 

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

 

Third:  To the Company.

 

The Trustee may fix a record
date and payment date for any payment to Holders pursuant to this Section 5.06.
At least ten (10) days before such record date, the Trustee shall mail to
each Holder and the Company a notice that states the record date, the payment
date and the amount to be paid.

 

Section 5.07   Limitation on
Suits. No Holder of any Security of any series shall have any right to
institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other
remedy hereunder, unless:

 

(1) such
Holder has previously given written notice to the Trustee of a continuing Event
of Default with respect to the Securities of that series;

 

(2) the
Holders of at least twenty-five percent in principal amount of the Outstanding
Securities of that series shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default in its own name as
Trustee hereunder;

 

(3) such
Holder or Holders shall have offered to the Trustee reasonable indemnity
against the costs, expenses and liabilities to be incurred in compliance with
such request;

 

(4) the
Trustee for 60 days after its receipt of such notice, request and offer of
indemnity has failed to institute any such proceeding; and

 

(5) no
direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in principal amount of
the Outstanding Securities of that series;

 

it being understood and
intended that no one or more of Holders of Securities of any series shall have
any right in any manner whatever by virtue of, or by availing of, any provision
of this Indenture to affect, disturb or prejudice the rights of any other of
such Holders, or to obtain or to seek to obtain priority or preference over any
other of such Holders or to enforce any right under this Indenture, except in
the manner herein provided and for the equal and ratable benefit of all Holders
of Securities of the affected series.

 

Section 5.08   Unconditional
Right of Holders to Receive Principal, Premium and Interest. Notwithstanding
any other provision in this Indenture but subject to Article 14, the
Holder of any Security shall have the right, which is absolute and
unconditional, to receive payment of the principal of, premium, if any, and
(subject to Section 3.07) interest on such Security on the Stated Maturity
or Maturities expressed in such Security

 

22

 

(or, in the case of redemption, on the Redemption Date) and to institute
suit for the enforcement of any such payment, and such rights shall not be
impaired without the consent of such Holder.

 

Section 5.09   Restoration of Rights
and Remedies. If the Trustee or any Holder has instituted any proceeding to
enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to
the Trustee or to such Holder, then and in every such case, subject to any
determination in such proceeding, the Company, the Trustee and the Holders
shall be restored severally and respectively to their former positions
hereunder and thereafter all rights and remedies of the Trustee and the Holders
shall continue as though no such proceeding has been instituted.

 

Section 5.10   Rights and
Remedies Cumulative. Except as otherwise provided with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities in
the last paragraph of Section 3.06, no right or remedy herein conferred
upon or reserved to the Trustee or to the Holders is intended to be exclusive
of any other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy
given hereunder or now or hereafter existing at law or in equity or otherwise.
The assertion or employment of any right or remedy hereunder, or otherwise,
shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.

 

Section 5.11   Delay or
Omission Not Waiver. No delay or omission of the Trustee or of any Holder of
any Securities to exercise any right or remedy accruing upon any Event of
Default shall impair any such right or remedy or constitute a waiver of any
such Event of Default or an acquiescence therein. Every right and remedy given
by this Article or by law to the Trustee or to the Holders may be
exercised from time to time, and as often as may be deemed expedient, by the
Trustee or by the Holders, as the case may be.

 

Section 5.12   Control by
Holders. The Holders of a majority in principal amount of the Outstanding
Securities of any series shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred on the Trustee, with respect to the
Securities of such series, provided that:

 

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

 

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

 

(3) subject
to Section 6.01, the Trustee need not take any action which might involve
the Trustee in personal liability or be unduly prejudicial to the Holders not
joining therein.

 

Section 5.13   Waiver of Past
Defaults. The Holders of not less than a majority in principal amount of the
Outstanding Securities of any series may by written notice to the Trustee on
behalf of the Holders of all the Securities of such series waive any Default or
Event of Default with respect to such series and its consequences, except a
Default or Event of Default:

 

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

 

(2) in
respect of a covenant or other provision hereof which under Article Nine
cannot be modified or amended without the consent of the Holder of each
Outstanding Security of such series affected.

 

Upon any such waiver, such
Default or Event of Default shall cease to exist and shall be deemed to have
been cured, for every purpose of this Indenture and the Securities of such
series; but no such waiver shall extend to any subsequent or other Default or
Event of Default or impair any right consequent thereon.

 

Section 5.14   Undertaking for
Costs. All parties to this Indenture agree, and each Holder of any Security by
his acceptance thereof shall be deemed to have agreed, that any court may in
its discretion require, in any suit for the enforcement of any right or remedy
under this Indenture, or in any suit against the Trustee for any action taken,
suffered or omitted by it as Trustee, the filing by any party litigant in such
suit of an undertaking to pay the costs of such suit, and that such court may
in its discretion assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in such suit, having due regard to the merits
and good faith of the claims or defenses made by such party litigant; but the
provisions of this Section shall not apply to any suit instituted by the
Company, to any suit instituted by the Trustee, to any suit instituted by any
Holder, or group of Holders, holding in the aggregate more than ten percent in
principal amount of the Outstanding Securities of any series, or to any suit
instituted by any Holder for the enforcement of the payment of the principal of
or premium, if any, or interest on any Security on or after the Stated Maturity
or Maturities expressed in such Security (or, in the case of redemption, on or
after the Redemption Date).

 

ARTICLE 6

 

THE TRUSTEE

 

Section 6.01   Certain Duties
and Responsibilities of the Trustee.

 

(a) Except during the
continuance of an Event of Default, the Trustee’s duties and responsibilities
under this Indenture shall be governed by Section 315(a) of the Trust
Indenture Act.

 

23

 

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

 

(c) None of the
provisions of Section 315(d) of the Trust Indenture Act shall be
excluded from this Indenture.

 

(d) Every provision of
this Indenture which pertains to the Trustee shall be subject to this Section 6.01.

 

Section 6.02   Notice of
Defaults. Within 90 days after the occurrence of any Default or Event of
Default with respect to the Securities of any series, the Trustee shall give to
all Holders of Securities of such series, as their names and addresses appear
in the Security Register, notice of such Default or Event of Default known to
the Trustee, unless such Default or Event of Default shall have been cured or
waived; provided, however, that, except in the case of a Default or Event of
Default in the payment of the principal of or premium, if any, or interest on
any Security of such series, the Trustee shall be protected in withholding such
notice if and so long as the board of directors, the executive committee or a
trust committee of directors and/or Responsible Officers of the Trustee in good
faith determine that the withholding of such notice is in the interest of the
Holders of Securities of such series.

 

Section 6.03   Certain Rights
of Trustee.  Subject to the provisions of
the Trust Indenture Act:

 

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

 

(b) any request or
direction of the Company mentioned herein shall be sufficiently evidenced by a
Company Request or Company Order and any resolution of the Board of Directors
may be sufficiently evidenced by a Board Resolution;

 

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

 

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

 

(e) the Trustee shall be
under no obligation to exercise any of the rights or powers vested in it by
this Indenture at the request or direction of any of the Holders pursuant to
this Indenture, unless such Holders shall have offered to the Trustee
satisfactory security or indemnity against the costs, expenses and liabilities
which might be incurred by it in compliance with such request or direction;

 

(f) prior to the
occurrence of an Event of Default with respect to the Securities of any series
and after the curing or waiving of all such Events of Default which may have
occurred, the Trustee shall not be bound to make any investigation into the
facts or matters stated in any resolution, certificate, statement, instrument,
opinion, report, notice, request, direction, consent, order, approval or other
paper or document, or the books and records of the Company, unless requested in
writing to do so by the Holders of a majority in principal amount of the
Outstanding Securities of any series; provided, however, that if the payment
within a reasonable time to the Trustee of the costs, expenses or liabilities
likely to be incurred by it in the making of such investigation is not, in the
opinion of the Trustee, reasonably assured to the Trustee by the security
afforded to it by the terms of this Indenture, the Trustee may require
reasonable indemnity against such costs, expenses or liabilities as a condition
to so proceeding; the reasonable expense of every such investigation shall be
paid by the Company or, if paid by the Trustee, shall be repaid by the Company
upon demand;

 

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

 

(h) the Trustee shall
not be required to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in
the exercise of its rights or powers, if it shall have reasonable grounds for
believing that repayment of such funds or adequate indemnity against such risk
or liability is not reasonably assured to it.

 

Section 6.04   Not Responsible
for Recitals or Issuance of Securities. The recitals herein and in the
Securities, except the Trustee’s certificates of authentication, shall be taken
as the statements of the Company, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The
Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Securities, except that the Trustee represents that it is
duly authorized to execute and deliver this Indenture, authenticate the
Securities and perform its obligations hereunder, and that the statements made
by it or to be made by it in a Statement of Eligibility and Qualification on Form T-1
supplied to the Company are true and accurate. Neither the Trustee nor any
Authenticating Agent shall be accountable for the use or application by the
Company of Securities or the proceeds thereof.

 

24

 

Section 6.05   May Hold
Securities. The Trustee, any Authenticating Agent, any Paying Agent, any
Security Registrar or any other agent of the Company, in its individual or any
other capacity, may become the owner or pledgee of Securities and, subject to
Sections 6.08 and 6.13, may otherwise deal with the Company with the same
rights it would have if it were not Trustee, Authenticating Agent, Paying
Agent, Security Registrar or such other agent.

 

Section 6.06   Money Held in Trust.
Money held by the Trustee in trust hereunder (including amounts held by the
Trustee as Paying Agent) need not be segregated from other funds except to the
extent required by law. The Trustee shall be under no liability for interest on
any money received by it hereunder except as otherwise agreed upon in writing
with the Company.

 

Section 6.07   Compensation
and Reimbursement.  The Company agrees:

 

(1) to
pay to the Trustee from time to time reasonable compensation as negotiated
between the Company and the Trustee for all services rendered by it hereunder
(which compensation shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust);

 

(2) except
as otherwise expressly provided herein, to reimburse the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or
made by the Trustee in accordance with any provision of this Indenture
(including the reasonable compensation and the expenses and disbursements of
its agents and counsel), except any such expense, disbursement or advance as
may be attributable to its negligence or bad faith; and

 

(3) to
indemnify the Trustee for, and to hold it harmless against, any loss,
liability, damage, claim or expense, including taxes (other than taxes based
upon or determined or measured by the income of the Trustee), incurred without
negligence or bad faith on its part, arising out of or in connection with the
acceptance or administration of the trust or trusts hereunder, including the
costs and expenses of defending itself against any claim or liability in
connection with the exercise or performance of any of its powers or duties
hereunder.

 

When the Trustee incurs
expenses or renders services in connection with an Event of Default specified
in Section 5.01(6) or Section 5.01(7), the expenses (including
the reasonable charges and expenses of its counsel) and the compensation for
the services are intended to constitute expenses of administration under any
applicable Bankruptcy Law.

 

The provisions of this Section 6.07
shall survive this Indenture and the resignation or removal of the Trustee.

 

Section 6.08   Disqualification;
Conflicting Interests. The Trustee shall be disqualified only where such
disqualification is required by Section 310(b) of the Trust Indenture
Act. Nothing shall prevent the Trustee from filing with the Commission the
application referred to in the second to last paragraph of Section 310(b) of
the Trust Indenture Act.

 

Section 6.09   Corporate
Trustee Required; Eligibility. There shall at all times be a Trustee hereunder
which shall be eligible to act as Trustee under Section 310(a)(1) of
the Trust Indenture Act having a combined capital and surplus (together with
its parent) of at least $100,000,000 and subject to supervision or examination
by federal or State authority. If such corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of said
supervising or examining authority, then for the purposes of this Section, the
combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of
condition so published. Neither the Company nor any Person directly or
indirectly controlling, controlled by, or under common control with the Company
may serve as Trustee. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in
the manner and with the effect hereinafter specified in this Article.

 

Section 6.10   Resignation and
Removal; Appointment of Successor.

 

(a) No resignation or
removal of the Trustee and no appointment of a successor Trustee pursuant to
this Article shall become effective until the acceptance of appointment by
the successor Trustee in accordance with the applicable requirements of Section 6.11.

 

(b) The Trustee may
resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company. If the instrument of acceptance
by a successor Trustee required by Section 6.11 shall not have been
delivered to the Trustee within 30 days after the giving of such notice of
resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the
Securities of such series.

 

(c) The Trustee may be
removed at any time with respect to the Securities of any series by Act of the
Holders of a majority in principal amount of the Outstanding Securities of such
series, delivered to the Trustee and to the Company.

 

(d) If at any time:

 

(i) the Trustee shall
fail to comply with Section 310(b) of the Trust Indenture Act after
written request therefor by the Company or by any Holder who has been a bona
fide Holder of a Security for at least six months; or

 

25

 

(ii) the Trustee shall
cease to be eligible under Section 6.09 and shall fail to resign after
written request therefor by the Company or by any such Holder of a Security who
has been a bona fide Holder of a Security for at least six months; or

 

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

 

then, in any such case, (i) the
Company by a Board Resolution may remove the Trustee with respect to all
Securities, or (ii) subject to Section 315(e) of the Trust
Indenture Act, any Holder who has been a bona fide Holder of a Security for at
least six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee
with respect to all Securities and the appointment of a successor Trustee or
Trustees.

 

(e) If the Trustee shall
resign, be removed or become incapable of acting, or if a vacancy shall occur
in the office of Trustee for any cause, with respect to the Securities of one
or more series, the Company, by a Board Resolution, shall promptly appoint a
successor Trustee or Trustees with respect to the Securities of that or those
series (it being understood that any such successor Trustee may be appointed
with respect to the Securities of one or more or all of such series and that at
any time there shall be only one Trustee with respect to the Securities of any
particular series) and shall comply with the applicable requirements of Section 6.11.
If, within one year after such resignation, removal or incapability, or the occurrence
of such vacancy, a successor Trustee with respect to the Securities of any
series shall be appointed by Act of the Holders of a majority in principal
amount of the Outstanding Securities of such series delivered to the Company
and the retiring Trustee, the successor Trustee so appointed shall, forthwith
upon its acceptance of such appointment in accordance with the applicable
requirements of Section 6.11, become the successor Trustee with respect to
the Securities of such series and to that extent supersede the successor
Trustee appointed by the Company with respect to such Securities. If no
successor Trustee with respect to the Securities of any series shall have been
so appointed by the Company or the Holders and accepted appointment in the
manner required by Section 6.11, any Holder who has been a bona fide
Holder of a Security of such series for at least six months may, on behalf of
himself and all others similarly situated, petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the
Securities of such series.

 

(f) The Company shall
give notice of each resignation and each removal of the Trustee with respect to
the Securities of any series and each appointment of a successor Trustee with
respect to the Securities of any series by mailing written notice of such event
by first-class mail, postage prepaid, to all Holders of Securities of such
series as their names and addresses appear in the Security Register. Each
notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office.

 

Section 6.11   Acceptance of
Appointment by Successor.

 

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

 

(b) In case of the
appointment hereunder of a successor Trustee with respect to the Securities of
some (but not all) series, the Company, the retiring Trustee and each successor
Trustee with respect to the Securities of such series shall execute and deliver
an indenture supplemental hereto wherein each successor Trustee shall accept
such appointment and which (1) shall contain such provisions as shall be
necessary or desirable to transfer and confirm to, and to vest in, each
successor Trustee all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates, (2) if the retiring Trustee
is not retiring with respect to all Securities, shall contain such provisions
as shall be deemed necessary or desirable to confirm that all the rights,
powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series as to which the retiring Trustee is not
retiring shall continue to be vested in the retiring Trustee, and (3) shall
add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same
trust and that each such Trustee shall be trustee of a trust or trusts
hereunder separate and apart from any trust or trusts hereunder administered by
any other such Trustee; and upon the execution and delivery of such
supplemental indenture the resignation or removal of the retiring Trustee shall
become effective to the extent provided therein and each such successor
Trustee, without any further act, deed or conveyance, shall become vested with
all the rights, powers, trusts and duties of the retiring Trustee with respect
to the Securities of that or those series to which the appointment of such
successor Trustee relates; but, on request of the Company or any successor
Trustee, such retiring Trustee shall duly assign, transfer and deliver to such
successor Trustee all property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates.

 

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

 

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

 

26

 

Section 6.12   Merger,
Conversion, Consolidation or Succession to Business. Any corporation into which
the Trustee may be merged or converted or with which it may be consolidated, or
any corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation succeeding to all or
substantially all the corporate trust business of the Trustee, shall be the
successor of the Trustee hereunder, provided such corporation shall be
otherwise qualified and eligible under this Article, without the execution or
filing of any paper or any further act on the part of any of the parties
hereto. In case any Securities shall have been authenticated, but not
delivered, by the Trustee then in office, any successor (by merger, conversion,
consolidation or otherwise as permitted hereunder) to such authenticating
Trustee may adopt such authentication and deliver the Securities so
authenticated with the same effect as if such successor Trustee had itself
authenticated such Securities.

 

Section 6.13   Preferential
Collection of Claims Against Company. The Trustee shall comply with Section 311(a) of
the Trust Indenture Act, excluding any creditor relationship listed in Section 311(b) of
the Trust Indenture Act. A Trustee who has resigned or been removed shall be
subject to Section 311(a) of the Trust Indenture Act to the extent
indicated therein.

 

Section 6.14   Appointment of
Authenticating Agent. At any time when any of the Securities remain Outstanding
the Trustee may appoint an Authenticating Agent or Agents with respect to one
or more series of Securities which shall be authorized to act on behalf of, and
subject to the direction of, the Trustee to authenticate Securities of such
series issued upon exchange, registration of transfer or partial redemption
thereof or pursuant to Section 3.06, and Securities so authenticated shall
be entitled to the benefits of this Indenture and shall be valid and obligatory
for all purposes as if authenticated by the Trustee hereunder. Wherever
reference is made in this Indenture to the authentication and delivery of
Securities by the Trustee or the Trustee’s certificate of authentication, such
reference shall be deemed to include authentication and delivery on behalf of
the Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent. Each
Authenticating Agent shall be acceptable to the Company and shall at all times
be a corporation organized and doing business under the laws of the United
States of America, any State thereof or the District of Columbia, authorized
under such laws to act as Authenticating Agent, having a combined capital and
surplus (together with its parent) of not less than $100,000,000 and subject to
supervision or examination by federal or State authority. If such
Authenticating Agent publishes reports of condition at least annually, pursuant
to law or to the requirements of said supervising or examining authority, then
for the purposes of this Section, the combined capital and surplus of such
Authenticating Agent shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published. If at any time
an Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, such Authenticating Agent shall resign immediately
in the manner and with the effect specified in this Section.

 

Any corporation into which an
Authenticating Agent may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which such Authenticating Agent shall be a party, or any
corporation succeeding to the corporate agency or corporate trust business of
an Authenticating Agent, shall continue to be an Authenticating Agent, provided
such corporation shall be otherwise eligible under this Section, without the
execution or filing of any paper or any further act on the part of the Trustee
or the Authenticating Agent.

 

An Authenticating Agent may
resign at any time by giving written notice thereof to the Trustee and to the
Company. The Trustee may at any time terminate the agency of an Authenticating
Agent by giving written notice thereof to such Authenticating Agent and to the
Company. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time such Authenticating Agent shall cease to be
eligible in accordance with the provisions of this Section, the Trustee may
appoint a successor Authenticating Agent which shall be acceptable to the
Company and shall mail written notice of such appointment by first-class mail,
postage prepaid, to all Holders of Securities of the series with respect to
which such Authenticating Agent will serve, as their names and addresses appear
in the Security Register. Any successor Authenticating Agent upon acceptance of
its appointment hereunder shall become vested with all the rights, powers and
duties of its predecessor hereunder, with like effect as if originally named as
an Authenticating Agent. No successor Authenticating Agent shall be appointed
unless eligible under the provisions of this Section.

 

The Company agrees to pay to
each Authenticating Agent from time to time reasonable compensation as
negotiated between the Company and such Authenticating Agent for its services
under this Section.

 

If an appointment with
respect to one or more series is made pursuant to this Section, the Securities
of such series may have endorsed thereon, in addition to the Trustee’s
certificate of authentication, an alternate certificate of authentication in
the following form:

 

Form of Authenticating Agent’s

Certificate of Authentication

 

 

	
  Dated:

  	
   

  	
   

  

 

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

 

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  As Trustee

  

 

27

 

	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  As Authenticating Agent

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Authorized Signatory

  

 

Section 6.15   Compliance with
Tax Laws. The Trustee hereby agrees to comply with all U.S. Federal income tax
information reporting and withholding requirements applicable to it with
respect to payments of premium (if any) and interest on the Securities of any
series, whether acting as Trustee, Security Registrar, Paying Agent or
otherwise with respect to the Securities of any series.

 

ARTICLE 7

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

Section 7.01   Company to
Furnish Trustee Names and Addresses of Holders. The Company will furnish or
cause to be furnished to the Trustee:

 

(a) semi-annually, not
later than 15 days after the Regular Record Date for each series of Securities,
a list, in such form as the Trustee may reasonably require, of the names and
addresses of the Holders of Securities as of such Regular Record Date (unless
the Trustee has such information), or if there is no Regular Record Date for
interest for such series of Securities, semi-annually, upon such dates as are
set forth in the Board Resolution or indenture supplemental hereto authorizing
such series, and

 

(b) at such other times
as the Trustee may request in writing, within 30 days after the receipt by the
Company of any such request, a list of similar form and content as of a date
not more than 15 days prior to the time such list is furnished;

 

provided, however, that so
long as the Trustee is the Security Registrar, no such list shall be required
to be furnished.

 

Section 7.02   Preservation of
Information; Communications to Holders.

 

(a) The Trustee shall
preserve, in as current a form as is reasonably practicable, the names and
addresses of Holders contained in the most recent list furnished to the Trustee
as provided in Section 7.01 and the names and addresses of Holders
received by the Trustee in its capacity as Security Registrar. The Trustee may
destroy any list furnished to it as provided in Section 7.01 upon receipt
of a new list so furnished.

 

(b) If three or more
Holders (herein referred to as “APPLICANTS”) apply in writing to the Trustee,
and furnish to the Trustee reasonable proof that each such applicant has owned
a Security for a period of at least six months preceding the date of such
application, and such application states that the applicants desire to
communicate with other Holders with respect to their rights under this
Indenture or under the Securities and is accompanied by a copy of the form of
proxy or other communication which such applicants propose to transmit, then
the Trustee shall, within five Business Days after the receipt of such
application, at its election, either:

 

(i)            afford such applicants access to the information
preserved at the time by the Trustee in accordance with Section 7.02(a);
or

 

(ii)           inform such applicants as to the approximate number of
Holders whose names and addresses appear in the information preserved at the
time by the Trustee in accordance with Section 7.02(a), and as to the
approximate cost of mailing to such Holders the form of proxy or other
communication, if any, specified in such application.

 

If the Trustee shall elect
not to afford such applicants access to such information, the Trustee shall,
upon the written request of such applicants, mail to each Holder whose name and
address appears in the information preserved at the time by the Trustee in
accordance with Section 7.02(a) a copy of the form of proxy or other
communication which is specified in such request, with reasonable promptness
after a tender to the Trustee of the material to be mailed and of payment, or
provision for the payment, of the reasonable expenses of mailing, unless within
five days after such tender the Trustee shall mail to such applicants and file
with the Commission, together with a copy of the material to be mailed, a
written statement to the effect that, in the opinion of the Trustee, such
mailing would be contrary to the best interests of the Holders or would be in
violation of applicable law. Such written statement shall specify the basis of
such opinion. If the Commission, after opportunity for a hearing upon the objections
specified in the written statement so filed, shall enter an order refusing to
sustain any of such objections or if, after the entry of an order sustaining
one or more of such objections, the Commission shall find, after notice and
opportunity for hearing, that all objections so sustained have been met and
shall enter an order so declaring, the Trustee shall mail copies of such
material to all such Holders with reasonable promptness after the 

 

28

 

entry
of such order and the renewal of such tender; otherwise the Trustee shall be
relieved of any obligation or duty to such applicants respecting their
application.

 

(c) Every Holder of
Securities, by receiving and holding the same, agrees with the Company and the
Trustee that neither the Company nor the Trustee nor any agent of either of
them shall be held accountable by reason of the disclosure of any such
information as to the names and addresses of the Holders in accordance with Section 7.02(b),
regardless of the source from which such information was derived, and that the
Trustee shall not be held accountable by reason of mailing any material
pursuant to a request made under Section 7.02(b).

 

Section 7.03   Reports by
Trustee.

 

(a) Within 60 days after
             of
each year commencing with the year 20    , the Trustee
shall transmit by mail to all Holders of Securities as provided in Section 313(c) of
the Trust Indenture Act, a brief report dated as of
            , if
required by and in compliance with Section 313(a) of the Trust
Indenture Act. The Trustee shall also comply with Section 313(b) of
the Trust Indenture Act.

 

(b) A copy of each such
report shall, at the time of such transmission to Holders, be filed by the
Trustee with each stock exchange or inter-dealer quotation system upon which
any Securities are listed, with the Commission and with the Company. The
Company will notify the Trustee when any Securities are listed on any stock
exchange or inter-dealer quotation system.

 

Section 7.04   Reports by
Company.  The Company shall:

 

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

 

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

 

(3) transmit
or cause to be transmitted by mail to all Holders, as their names and addresses
appear in the Security Register, (a) as promptly as reasonably practicable
following the furnishing of the same to its stockholders, the Company’s annual
report to stockholders, containing certified financial statements, and any
other financial reports which the Company generally furnishes to its
stockholders, and (b) within 30 days after the filing thereof with the
Trustee, such summaries of any other information, documents and reports
required to be filed by the Company pursuant to paragraphs (1) and (2) of
this Section as may be required by rules and regulations prescribed
from time to time by the Commission; and

 

(4) furnish
to the Trustee, within 90 days after the end of each fiscal year of the Company
(which fiscal year currently ends on the last Friday in the month of December of
each calendar year), a brief certificate from the principal executive officer,
principal financial officer or principal accounting officer as to his or her
knowledge of the Company’s compliance with all conditions and covenants under
this Indenture. For purposes of this paragraph, such compliance shall be
determined without regard to any period of grace or requirement of notice
provided under this Indenture. Such certificate need not comply with Section 1.02.

 

ARTICLE 8

CONSOLIDATION, MERGER, LEASE, SALE OR TRANSFER

 

Section 8.01   When Company May Merge,
Etc. Except as may be otherwise provided as contemplated by Section 3.01
relating to Securities of a series, the Company shall not consolidate with, or
merge with or into, any other Person (whether or not the Company shall be the
surviving corporation or entity), or convey, transfer or lease all or
substantially all of its properties and assets as an entirety or substantially
as an entirety to any Person or group of affiliated Persons, in one transaction
or a series of related transactions, unless:

 

(1) either
the Company shall be the continuing Person or the Person (if other than the
Company) formed by such consolidation or with which or into which the Company
is merged or the Person (or group of affiliated Persons) to which all or
substantially all the properties and assets of the Company as an entirety or
substantially as an entirety are conveyed, transferred or leased shall be a
corporation or other entity (group of affiliated corporations or entities)
organized and existing under the laws of the United States of America or any
State thereof or the District of Columbia and shall expressly assume, by an
indenture supplemental hereto, executed and delivered to the Trustee, in form
reasonably satisfactory to the Trustee, all the obligations of the Company
under the Securities and this Indenture; and

 

(2) immediately
after giving effect to such transaction or series of related transactions, no
Event of Default, and no Default, shall have occurred and be continuing.

 

29

 

Notwithstanding the
foregoing, the Company may (a) consolidate with, or merge with or into, an
Affiliate incorporated for the purpose incorporating the Company in another
jurisdiction and/or (b) convey, transfer or lease all or substantially all
of its properties and assets as an entirety or substantially as an entirety to
any Subsidiary or Subsidiaries, in one transaction or a series of related
transactions.

 

Section 8.02   Opinion of
Counsel. The Company shall deliver to the Trustee prior to the proposed
transaction(s) covered by Section 8.01 an Officers’ Certificate and
an Opinion of Counsel stating that the transaction(s) and such
supplemental indenture comply with this Indenture and that all conditions
precedent to the consummation of the transaction(s) under this Indenture
have been met.

 

Section 8.03   Successor
Corporation Substituted. Upon any consolidation by the Company with or merger
by the Company into any other corporation or other entity or any conveyance,
transfer or lease all or substantially all of the property and assets of the
Company in accordance with Section 8.01, the successor corporation or
other entity formed by such consolidation or into which the Company is merged
or the successor corporation or entity or affiliated group of corporations or
entities to which such lease, sale, assignment or transfer is made shall
succeed to, and be substituted for, and may exercise every right and power of,
the Company under this Indenture with the same effect as if such successor corporation
or corporations or entity or entities had been named as the Company herein, and
thereafter, except in the case of a lease, the predecessor corporation or
corporations or entity or entities shall be relieved of all obligations and
covenants under this Indenture and the Securities and in the event of such
conveyance or transfer, except in the case of a lease, any such predecessor
corporation may be dissolved and liquidated.

 

ARTICLE 9

SUPPLEMENTAL INDENTURES

 

Section 9.01   Supplemental
Indentures Without Consent of Holders. Without notice to or the consent of any
Holders, the Company, when authorized by a Board Resolution, and the Trustee,
at any time and from time to time, may enter into one or more indentures
supplemental hereto, in form reasonably satisfactory to the Trustee, for any of
the following purposes:

 

(1) to
evidence the succession of another corporation to the Company and the
assumption by any such successor of the covenants of the Company herein and in
the Securities; or

 

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

 

(3) to
add any additional Events of Default with respect to all or any series of
Securities; or

 

(4) to
add or change any of the provisions of this Indenture to such extent as shall
be necessary to permit or facilitate the issuance of Securities in bearer form,
registrable or not registrable as to principal, and with or without interest
coupons; or

 

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

 

(6) to
secure the Securities; or

 

(7) to
establish the form or terms of Securities of any series as permitted by
Sections 2.01 and 3.01; or

 

(8) to
evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Securities of one or more series and to add to or
change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one
Trustee, pursuant to the requirements of Section 6.11(b); or

 

(9) to
cure any ambiguity, defect or inconsistency or to correct or supplement any
provision herein which may be inconsistent with any other provision herein; or

 

(10) to
make any change that does not materially adversely affect the interests of the
Holders of Securities of any series then Outstanding; or

 

(11)
to add Guarantees or Guarantors with respect to all or any series of the
Securities; or

 

 

(12)
to provide for uncertificated Securities in addition to or in place of
certificated Securities (provided that the uncertificated Securities are issued
in registered form for purposes of Section 163(f) of the Internal
Revenue Code or in a manner such that the uncertificated Securities are
described in Section 163(f)(2)(B) of such Code).

 

30

 

Upon request of the Company,
accompanied by a Board Resolution authorizing the execution of any such
supplemental indenture, and upon receipt by the Trustee of the documents
described in (and subject to the last sentence of) Section 9.03, the
Trustee shall join with the Company in the execution of any supplemental
indenture authorized or permitted by the terms of this Indenture.

 

Section 9.02   Supplemental
Indentures with Consent of Holders. With the written consent of the Holders of
a majority in aggregate principal amount of the Outstanding Securities of each
series affected by such supplemental indenture (with the Securities of each
series voting as a class), by Act of said Holders delivered to the Company and
the Trustee, the Company, when authorized by a Board Resolution, and the
Trustee shall, subject to Section 9.03, enter into an indenture or
indentures supplemental hereto for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture
or of modifying in any manner the rights of the Holders of Securities of such
series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security
affected thereby,

 

(1) change
the Stated Maturity of the principal of, or premium, if any, or any installment
of principal of or premium, if any, or interest on, any Security, or reduce the
principal amount thereof or the rate of interest thereon or any premium payable
upon the optional redemption or Stated Maturity thereof, or change the manner
in which the amount of any principal thereof or premium, if any, or interest
thereon is determined, or reduce the amount of the principal of any Original
Issue Discount Security that would be due and payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 5.02, or change
any Place of Payment where, or the coin or currency or currency unit in which,
any Security or any premium or interest thereon is payable, or impair the right
to institute suit for the enforcement of any such payment on or after the
Stated Maturity thereof (or, in the case of redemption, on or after the
Redemption Date);

 

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

 

(3) modify
any of the provisions of this Section, Section 5.13 or Section 10.06,
except to increase any such percentage or to provide that certain other
provisions of this Indenture cannot be modified or waived without the consent
of the Holder of each Outstanding Security affected thereby; provided, however,
that this clause shall not be deemed to require the consent of any Holder with
respect to changes in the references to “the Trustee” and concomitant changes
in this Section and Section 10.06, or the deletion of this proviso,
in accordance with the requirements of Sections 6.11(b) and 9.01(8).

 

A supplemental indenture
which changes or eliminates any covenant or other provisions of this Indenture
which has expressly been included solely for the benefit of one or more
particular series of Securities, or which modifies the rights of the Holders of
Securities of such series with respect to such covenant or other provision, shall
be deemed not to affect the rights under this Indenture of the Holders of
Securities of any other series.

 

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

 

Section 9.03   Execution of
Supplemental Indentures. The Trustee shall sign any supplemental indenture
authorized pursuant to this Article, subject to the last sentence of this Section 9.03.
In executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article or the modifications thereby of the
trusts created by this Indenture, the Trustee shall be entitled to receive, and
(subject to Section 6.01) shall be fully protected in relying upon, an
Officers’ Certificate and an Opinion of Counsel stating that the execution of
such supplemental indenture is authorized or permitted by this Indenture. The
Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under
this Indenture or otherwise.

 

Section 9.04   Effect of
Supplemental Indentures. Upon the execution of any supplemental indenture under
this Article, this Indenture shall be modified in accordance therewith, and
such supplemental indenture shall form a part of this Indenture for all
purposes; and every Holder of Securities theretofore or thereafter
authenticated and delivered hereunder shall be bound thereby.

 

Section 9.05   Conformity with
Trust Indenture Act. Every supplemental indenture executed pursuant to this Article shall
conform to the requirements of the Trust Indenture Act as then in effect.

 

Section 9.06   Reference in
Securities to Supplemental Indentures. Securities of any series authenticated
and delivered after the execution of any supplemental indenture pursuant to
this Article may, and shall if required by the Trustee, bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental
indenture. If the Company shall so determine, new Securities of any series so
modified as to conform, in the opinion of the Trustee and the Company, to any
such supplemental indenture may be prepared and executed by the Company and authenticated
and delivered by the Trustee in exchange for Outstanding Securities of such
series.

 

Section 9.07   Subordination
Unimpaired. This Indenture may not be amended to alter the subordination of any
of the Outstanding Securities without the written consent of the requisite
holders of Senior Debt then outstanding that would be adversely affected
thereby.

 

31

 

ARTICLE 10

COVENANTS

 

Section 10.01 Payments of
Securities. With respect to each series of Securities, the Company will duly
and punctually pay the principal of (and premium, if any) and interest on such
Securities in accordance with their terms and this Indenture, and will duly
comply with all the other terms, agreements and conditions contained in, or
made in the Indenture for the benefit of, the Securities of such series.

 

Section 10.02 Maintenance of
Office or Agency. The Company will maintain an office or agency in each Place
of Payment where Securities may be surrendered for registration of transfer or
exchange or for presentation for payment, where notices and demands to or upon
the Company in respect of the Securities and this Indenture may be served. The
Company will give prompt written notice to the Trustee of the location, and any
change in location, of such office or agency. If at any time the Company shall
fail to maintain any such required office or agency or shall fail to furnish
the Trustee with the address thereof, such presentations, surrenders, notices
and demands may be made or served at the address of the Trustee as set forth in
Section 1.05 hereof.

 

The Company may also from
time to time designate one or more other offices or agencies where the
Securities may be presented or surrendered for any or all such purposes and may
from time to time rescind such designations. The Company will give prompt
written notice to the Trustee of any such designation or rescission and of any
change in the location of any such other office or agency.

 

Section 10.03 Compliance
Certificates.

 

(a) The Company shall
deliver to the Trustee within 90 days after the end of each fiscal year of the
Company (which fiscal year currently ends on the last Friday in the month of December of
each calendar year), an Officers’ Certificate stating whether or not the signer
knows of any Default or Event of Default by the Company that occurred prior to
the end of the fiscal year and is then continuing. If the signer does know of
such a Default or Event of Default, the certificate shall describe each such
Default or Event of Default and its status and the specific section or sections
of this Indenture in connection with which such Default or Event of Default has
occurred. The Company shall also promptly notify the Trustee in writing should
the Company’s fiscal year be changed so that the end thereof is on any date
other than the date on which the Company’s fiscal year currently ends. The
certificate need not comply with Section 1.02 hereof, but shall comply
with Section 314(a)(4) of the Trust Indenture Act.

 

(b) The Company shall deliver
to the Trustee, within 10 days after the occurrence thereof, notice of any
acceleration which with the giving of notice and the lapse of time would be an
Event of Default within the meaning of Section 5.01(5) hereof.

 

(c) The Company shall
deliver to the Trustee forthwith upon becoming aware of a Default or Event of
Default (but in no event later than 10 days after the occurrence of each
Default or Event of Default that is continuing), an Officers’ Certificate
setting forth the details of such Default or Event of Default and the action
that the Company proposes to take with respect thereto and the specific section
or sections of this Indenture in connection with which such Default or Event of
Default has occurred.

 

Section 10.04 Waiver of Stay,
Extension or Usury Laws. The Company covenants (to the extent that it may
lawfully do so) that it will not at any time insist upon, or plead, or in any
manner whatsoever claim, and will actively resist any and all efforts to be
compelled to take the benefit or advantage of, any stay or extension law or any
usury law or other law, which would prohibit or forgive the Company from paying
all or any portion of the principal of and/or interest on the Securities as
contemplated herein, wherever enacted, now or at any time hereafter in force,
or which may affect the covenants or the performance of this Indenture; and (to
the extent that it may lawfully do so) the Company hereby expressly waives all
benefit or advantage of any such law, and covenants that it will not hinder,
delay or impede the execution of any power herein granted to the Trustee, but
will suffer and permit the execution of every such power as though no such law
had been enacted.

 

Section 10.05 Money for
Securities Payments to Be Held in Trust. If the Company shall at any time act
as its own Paying Agent with respect to any series of Securities, it will, on
or before each due date of the principal of (and premium, if any) or interest
on any of the Securities of that series, segregate and hold in trust for the
benefit of the Persons entitled thereto a sum sufficient to pay the principal
(and premium, if any) or interest so becoming due until such sums shall be paid
to such Persons or otherwise disposed of as herein provided and will promptly
notify the Trustee of its action or failure so to act.

 

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

 

The Company will cause each
Paying Agent for any series of Securities (other than the Trustee) to execute
and deliver to the Trustee an instrument in which such Paying Agent shall agree
with the Trustee, subject to the provisions of this Section, that such Paying
Agent will:

 

(1) hold
all sums held by it for the payment of the principal of (and premium, if any)
or interest on Securities of that series in trust for the benefit of the
Persons entitled thereto until such sums shall be paid to such Persons or
otherwise disposed of as herein provided;

 

32

 

(2) give
the Trustee notice of any default by the Company (or any other obligor upon the
Securities of that series) in the making of any payment of principal (and
premium, if any) or interest on the Securities of that series; and

 

(3) at
any time during the continuance of any such default, upon the written request
of the Trustee, forthwith pay to the Trustee all sums so held in trust by such
Paying Agent.

 

The Company may at any time,
for the purpose of obtaining the satisfaction and discharge of this Indenture
or for any other purpose, pay, or by Company Order direct any Paying Agent to
pay, to the Trustee all sums held in trust by the Company or such Paying Agent,
such sums to be held by the Trustee upon the same trusts as those upon which
such sums were held by the Company or such Paying Agent; and, upon such payment
by any Paying Agent to the Trustee, such Paying Agent shall be released from
all further liability with respect to such money.

 

Any money deposited with the
Trustee or any Paying Agent, or then held by the Company, in trust for the
payment of the principal of (and premium, if any) or interest on any Security
of any series and remaining unclaimed for one year after such principal (and
premium, if any) or interest has become due and payable shall, subject to any
applicable escheat laws, be paid to the Company on Company Request, or (if then
held by the Company) shall be discharged from such trust; and the Holder of
such Security shall thereafter, as an unsecured general creditor, look only to
the Company for payment thereof, and all liability of the Trustee or such
Paying Agent with respect to such trust money, and all liability of the Company
as trustee thereof, shall thereupon cease; provided, however, that the Trustee
of such Paying Agent, before being required to make any such repayment, may at
the expense of the Company cause to be published once, in a newspaper published
in the English language, customarily published on each Business Day and of
general circulation in New York, New York, notice that such money remains
unclaimed and that, after a date specified therein, which shall not be less
than 30 days from the date of such publication, any unclaimed balance of such
money then remaining will be repaid to the Company.

 

Section 10.06 Waiver of
Certain Covenants. The Company may omit in any particular instance to comply
with any term, provision or condition set forth in Article 8, Article 10
(other than Sections      or     ) or
any covenant specified as contemplated under Section 3.01 with respect to
the Securities of any series if before the time for such compliance the Holders
of not less than a majority in principal amount of the Outstanding Securities
of such series shall, by Act of such Holders, either waive such compliance in
such instance or generally waive compliance with such term, provision or condition,
but no such waiver shall extend to or affect such term, provision or condition
except to the extent so expressly waived, and, until such waiver shall become
effective, the obligations of the Company and the duties of the Trustee in
respect of any such term, provision or condition shall remain in full force and
effect.

 

ARTICLE 11

REDEMPTION OF SECURITIES

 

Section 11.01 Applicability of
Article. Securities of any series which are redeemable before their Stated
Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 3.01 for Securities of any
series) in accordance with this Article.

 

Section 11.02 Election to
Redeem; Notice to Trustee. The election of the Company to redeem any Securities
shall be evidenced by a Board Resolution. In case of any redemption at the
election of the Company of less than all the Securities of any series, the
Company shall, at least 30 and not more than 60 days prior to the Redemption
Date fixed by the Company (unless a shorter notice shall be reasonably
satisfactory to the Trustee), notify the Trustee of such Redemption Date and of
the principal amount of Securities of such series to be redeemed. In the case
of any redemption of Securities prior to the expiration of any restriction on
such redemption provided in the terms of such Securities or elsewhere in this
Indenture, the Company shall furnish the Trustee with an Officers’ Certificate
evidencing compliance with such restriction.

 

Section 11.03 Selection by
Trustee of Securities to Be Redeemed. If less than all the Securities of any
series are to be redeemed, the particular Securities to be redeemed shall be
selected prior to the giving of the applicable notice of redemption to Holders
by the Trustee, from the Outstanding Securities of such series not previously
called for redemption, substantially pro rata, by lot or by any other method as
the Trustee considers fair and appropriate and that complies with the
requirements of the principal national securities exchange, if any, on which
such Securities are listed, and which may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for
Securities of that series or any integral multiple thereof) of the principal
amount of Securities of such series of a denomination larger than the minimum
authorized denomination for Securities of that series; provided that in case
the Securities of such series have different terms and maturities, the
Securities to be redeemed shall be selected by the Company and the Company
shall give notice thereof to the Trustee.

 

The Trustee shall promptly
notify the Company in writing of the Securities selected for redemption and, in
the case of any Securities selected for partial redemption, the principal amount
thereof to be redeemed.

 

For all purposes of this
Indenture, unless the context otherwise requires, all provisions relating to
the redemption of the Securities shall relate, in the case of any Securities
redeemed or to be redeemed only in part, to the portion of the principal amount
of such Securities which has been or is to be redeemed.

 

Section 11.04 Notice of
Redemption. Notice of redemption shall be given by first-class mail, postage
prepaid, mailed not less than 30 nor more than 45 days prior to the Redemption
Date, to each Holder of Securities to be redeemed, at his address appearing in
the Security Register.

 

33

 

All notices of redemption
shall state:

 

(1) the
Redemption Date;

 

(2) the
Redemption Price;

 

(3) if
less than all the Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption, the principal amounts)
of the particular Securities to be redeemed;

 

(4) that
on the Redemption Date the Redemption Price will become due and payable upon
each such Security to be redeemed and, if applicable, that interest thereon
will cease to accrue on and after said date;

 

(5) the
place or places where such Securities are to be surrendered for payment of the
Redemption Price;

 

(6) that
the redemption is for a sinking fund, if such is the case; and

 

(7) the
CUSIP number, if any, of the Securities to be redeemed.

 

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

 

Section 11.05 Deposit of
Redemption Price. On or prior to any Redemption Date, the Company shall deposit
with the Trustee or with a Paying Agent (or, if the Company is acting as its
own Paying Agent, segregate and hold in trust as provided in Section 10.05)
an amount of money sufficient to pay the Redemption Price of, and (except if
the Redemption Date shall be an Interest Payment Date) accrued interest on, all
the Securities which are to be redeemed on that date.

 

Unless any Security by its
terms prohibits any sinking fund payment obligation from being satisfied by
delivering and crediting Securities (including Securities redeemed otherwise
than through a sinking fund), the Company may deliver such Securities to the
Trustee for crediting against such payment obligation in accordance with the
terms of such Securities and this Indenture.

 

Section 11.06 Securities
Payable on Redemption Date. Notice of redemption having been given as
aforesaid, the Securities so to be redeemed shall, on the Redemption Date,
become due and payable at the Redemption Price therein specified, and from and
after such date (unless the Company shall default in the payment of the Redemption
Price and accrued interest) such Securities shall cease to bear interest. Upon
surrender of any such Security for redemption in accordance with said notice,
such Security shall be paid by the Company at the Redemption Price, together
with accrued interest to the Redemption Date; provided, however, that
installments of interest whose Stated Maturity is on or prior to the Redemption
Date shall be payable to the Holders of such Securities, or one or more
Predecessor Securities, registered as such at the close of business on the
relevant Regular or Special Record Dates according to their terms and the
provisions of Section 3.07.

 

If any Security called for
redemption shall not be so paid upon surrender thereof for redemption, the
principal (and premium, if any) shall, until paid, bear interest from the
Redemption Date at the rate prescribed therefor in the Security.

 

Section 11.07 Securities
Redeemed in Part. Any Security which is to be redeemed only in part shall be
surrendered at an office or agency of the Company at a Place of Payment
therefor (with, if the Company or the Trustee so requires, due endorsement by,
or a written instrument of transfer in form satisfactory to the Company and the
Trustee duly executed by, the Holder thereof or his attorney duly authorized in
writing), and the Company shall execute, and the Trustee shall authenticate and
deliver to the Holder of such Security without service charge, a new Security
or Securities of the same series and Stated Maturity, of any authorized denomination
as requested by such Holder, in aggregate principal amount equal to and in
exchange for the unredeemed portion of the principal of the Security so
surrendered.

 

ARTICLE 12

 

SINKING FUNDS

 

Section 12.01 Applicability of
Article. The provisions of this Article shall be applicable to any sinking
fund for the retirement of Securities of a series, except as otherwise
specified as contemplated by Section 3.01 for Securities of such series.

 

The minimum amount of any
sinking fund payment provided for by the terms of Securities of any series is
herein referred to as a “MANDATORY SINKING FUND PAYMENT,” and any payment in
excess of such minimum amount provided for by the terms of Securities of any
series is herein referred to as an “OPTIONAL SINKING FUND PAYMENT.” If provided
for by the terms of Securities of any series, the cash amount of any sinking
fund payment may be subject to reduction as provided in Section 12.02.
Each sinking fund payment shall be applied to the redemption of Securities of
any series as provided for by the terms of Securities of such series.

 

34

 

Section 12.02 Satisfaction of
Sinking Fund Payments with Securities. The Company (1) may deliver
Securities of a series (other than any Securities previously called for
redemption) and (2) may apply as a credit Securities of a series which
have been redeemed either at the election of the Company pursuant to the terms
of such Securities or through the application of permitted optional sinking
fund payments pursuant to the terms of such Securities, in each case in
satisfaction of all or any part of any sinking fund payment with respect to the
Securities of such series required to be made pursuant to the terms of such
Securities as provided for by the terms of such series; provided that such
Securities have not been previously so credited. Such Securities shall be
received and credited for such purpose by the Trustee at the Redemption Price
specified in such Securities for redemption through operation of the sinking
fund and the amount of such sinking fund payment shall be reduced accordingly.

 

Section 12.03 Redemption of
Securities for Sinking Fund. Not less than 45 days (or such shorter period
reasonably acceptable to the Trustee) prior to each sinking fund payment date
for any series of Securities, the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing sinking fund
payment for that series pursuant to the terms of that series, the portion
thereof, if any, which is to be satisfied by payment of cash and the portion
thereof, if any, which is to be satisfied by delivering and crediting
Securities of that series pursuant to Section 12.02 and will also deliver
to the Trustee any Securities to be so delivered (which have not been
previously delivered). Not less than 30 days before each such sinking fund
payment date the Trustee shall select the Securities to be redeemed upon such
sinking fund payment date in the manner specified in Section 11.03 and
cause notice of the redemption thereof to be given in the name of and at the
expense of the Company in the manner provided in Section 11.04. Such
notice having been duly given, the redemption of such Securities shall be made
upon the terms and in the manner stated in Sections 11.06 and 11.07.

 

ARTICLE 13

DEFEASANCE AND COVENANT DEFEASANCE

 

Section 13.01 Applicability of
Article; Company’s Option to Effect Defeasance or Covenant Defeasance. Unless
as otherwise specified as contemplated by Section 3.01 for Securities of
such series, provision is made for the inapplicability of, in whole or in part,
or any modification to, either or both of (a) defeasance of the Securities
of a series under Section 13.02 or (b) covenant defeasance of the
Securities of a series under Section 13.03, then the provisions of such Section or
Sections, as the case may be, together with the other provisions of this
Article, shall be applicable to the Securities of such series and the Company
may at its option by Board Resolution, at any time, with respect to the
Securities of such series elect to have either Section 13.02 (unless
inapplicable) or Section 13.03 (unless inapplicable) be applied to the
Outstanding Securities of such series upon compliance with the applicable
conditions set forth below in this Article.

 

Section 13.02 Defeasance and
Discharge. Upon the Company’s exercise of the option provided in Section 13.01
to defease the Outstanding Securities of a particular series, the Company shall
be discharged from its obligations with respect to the Outstanding Securities
of such series on the date the applicable conditions set forth in Section 13.04
are satisfied (hereinafter, “DEFEASANCE”). Defeasance shall mean that the
Company shall be deemed to have paid and discharged the entire indebtedness
represented by the Outstanding Securities of such series and to have satisfied
all its other obligations under such Securities and this Indenture insofar as
such Securities are concerned (and the Trustee, at the expense of the Company,
shall execute proper instruments acknowledging the same); provided, however,
that the following rights, obligations, powers, trusts, duties and immunities
shall survive until otherwise terminated or discharged hereunder: (A) the
rights of Holders of Outstanding Securities of such series to receive, solely
from the trust fund provided for in Section 13.04, payments in respect of the
principal of (and premium, if any) and interest on such Securities when such
payments are due, (B) the Company’s obligations with respect to such
Securities under Sections 3.04, 3.05, 3.06, 10.02 and 10.05, (C) the
rights, powers, trusts, duties and immunities of the Trustee hereunder and (D) this
Article. Subject to compliance with this Article, the Company may exercise its
option with respect to defeasance under this Section 13.02 notwithstanding
the prior exercise of its option with respect to covenant defeasance under Section 13.03
in regard to the Securities of such series.

 

Section 13.03 Covenant
Defeasance. Upon the Company’s exercise of the option provided in Section 13.01
to obtain a covenant defeasance with respect to the Outstanding Securities of a
particular series, the Company shall be released from its obligations under
this Indenture and any applicable supplemental indenture (except its
obligations under Sections 3.04, 3.05, 3.06, 5.06, 5.09, 6.10, 10.01, 10.02,
10.03, 10.04 and 10.05) with respect to the Outstanding Securities of such
series on and after the date the applicable conditions set forth in Section 13.04
are satisfied (hereinafter, “COVENANT DEFEASANCE”). Covenant defeasance shall
mean that, with respect to the Outstanding Securities of such series, the
Company may omit to comply with and shall have no liability in respect of any
term, condition or limitation set forth in this Indenture and any applicable
supplemental indenture (except its obligations under Sections 3.04, 3.05, 3.06,
5.06, 5.09, 6.10, 10.01, 10.02, 10.03, 10.04 and 10.05), whether directly or
indirectly by reason of any reference elsewhere herein or by reason of any
reference to any other provision herein or in any other document, and such
omission to comply shall not constitute an Event of Default under Section 5.01(4) or
any such supplemental indenture with respect to Outstanding Securities of such
series, and the remainder of this Indenture and of the Securities of such
series shall be unaffected thereby.

 

Section 13.04 Conditions to
Defeasance or Covenant Defeasance. The following shall be the conditions to
defeasance under Section 13.02 and covenant defeasance under Section 13.03
with respect to the Outstanding Securities of a particular series:

 

(1) The
Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee satisfying the requirements of Section 6.09
who shall agree to comply with the provisions of this Article applicable
to it), under the terms of an irrevocable trust agreement in form and substance
reasonably satisfactory to such Trustee, as trust funds in trust for the
purpose of making the following payments, specifically pledged as security for,
and dedicated solely to, the benefit of the Holders of such Securities, (A) money
in an amount, or (B) U.S. Government Obligations which through the
scheduled payment of principal and interest in respect thereof in accordance
with their terms will provide, not later than the due date of any payment,
money in an amount, or (C) a combination thereof, in each case sufficient,
in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the
Trustee, to pay and 

 

35

 

discharge,
and which shall be applied by the Trustee (or other qualifying trustee) to pay
and discharge, (i) the principal of (and premium, if any, on) and each
installment of principal of (and premium, if any) and interest on the Outstanding
Securities of such series on the Stated Maturity of such principal or
installment of principal or interest and (ii) any mandatory sinking fund
payments or analogous payments applicable to the Outstanding Securities of such
series on the day on which such payments are due and payable in accordance with
the terms of this Indenture and of such Securities.

 

(2) No
Default or Event of Default with respect to the Securities of such series shall
have occurred and be continuing on the date of such deposit or shall occur as a
result of such deposit.

 

(3) Such
deposit, defeasance or covenant defeasance shall not result in a breach or
violation of, or constitute a default under, any other material debt agreement
or instrument to which the Company is a party or by which it is bound.

 

(4) In
the case of an election with respect to Section 13.02, the Company shall
have delivered to the Trustee either (a) a ruling directed to the Trustee
received from the Internal Revenue Service to the effect that the Holders of
the Outstanding Securities of such series will not recognize income, gain or
loss for federal income tax purposes as a result of such defeasance and will be
subject to federal income tax on the same amounts, in the same manner and at
the same times as would have been the case if such defeasance had not occurred
or (B) an Opinion of Counsel, based on such ruling or on a change in the
applicable federal income tax law since the date of this Indenture, in either
case to the effect that, and based thereon such opinion shall confirm that, the
Holders of the Outstanding Securities of such series will not recognize income,
gain or loss for federal income tax purposes as a result of such defeasance and
will be subject to federal income tax on the same amounts, in the same manner
and at the same times as would have been the case if such defeasance had not
occurred.

 

(5) the
case of an election with respect to Section 13.03, the Company shall have
delivered to the Trustee an Opinion of Counsel or a ruling directed to the Trustee
received from the Internal Revenue Service to the effect that the Holders of
the Outstanding Securities of such series will not recognize income, gain or
loss for federal income tax purposes as a result of such covenant defeasance
and will be subject to federal income tax on the same amounts, in the same
manner and at the same times as would have been the case if such covenant
defeasance had not occurred.

 

(6) Such
defeasance or covenant defeasance shall be effected in compliance with any
additional terms, conditions or limitations which may be imposed on the Company
in connection therewith pursuant to Section 3.01.

 

(7) The
Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for
relating to either the defeasance under Section 13.02 or the covenant
defeasance under Section 13.03 (as the case may be) have been complied
with.

 

Section 13.05 Deposited Money
and Government Obligations To Be Held in Trust. Subject to the provisions of
the last paragraph of Section 10.05, all money and Government Obligations
(including the proceeds thereof) deposited with the Trustee (or other
qualifying trustee, collectively for purposes of this Section 13.05, the “Trustee”)
pursuant to Section 13.04 in respect of the Outstanding Securities of a
particular series shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Securities and this Indenture, to the
payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the Holders of
such Securities of all sums due and to become due thereon in respect of
principal (and premium, if any) and interest, but such money need not be
segregated from other funds except to the extent required by law.

 

The Company shall pay and
indemnify the Trustee against any tax, fee or other charge imposed on or
assessed against the U.S. Government Obligations deposited pursuant to Section 13.04
or the principal and interest received in respect thereof, other than any such
tax, fee or other charge which by law is for the account of the Holders of the
Outstanding Securities of such series.

 

Anything in this Article to
the contrary notwithstanding, the Trustee shall deliver or pay to the Company
from time to time upon Company Request any money or Government Obligations held
by it as provided in Section 13.04 with respect to Securities of any
series which, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to
the Trustee, are in excess of the amount thereof which would then be required
to be deposited for the purpose for which such money or Government Obligations
were deposited.

 

Section 13.06 Reinstatement.
If the Trustee or the Paying Agent is unable to apply any money or U.S.
Government Obligations, as the case may be, in accordance with this Article with
respect to any Securities by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such
application, then the obligations under this Indenture and such Securities from
which the Company has been discharged or released pursuant to Section 13.02
or 13.03 shall be revived and reinstated as though no deposit had occurred
pursuant to this Article with respect to such Securities, until such time
as the Trustee or Paying Agent is permitted to apply all money or U.S.
Government Obligations, as the case may be, held in trust pursuant to Section 13.05
with respect to such Securities in accordance with this Article; provided,
however, that if the Company makes any payment of principal of or any premium
or interest on any such Security following such reinstatement of its
obligations, the Company shall be subrogated to the rights (if any) of the
Holders of such Securities to receive such payment from the money or U.S.
Government Obligations, as the case may be, so held in trust.

 

36

 

ARTICLE 14

SUBORDINATION

 

Section 14.01 Subordination.   The Company covenants and agrees, and each
Holder of a Security issued hereunder by his acceptance of a Security likewise
covenants and agrees (except as otherwise provided or contemplated by Section 3.01),
that all Securities shall be issued subject to the provisions of this Article Fourteen
; and each Person holding any Security, whether upon original issue or upon
transfer, assignment or exchange thereof accepts and agrees to be bound by such
provisions.

 

The payment by the Company of
the principal of, premium, if any and interest on all Securities issued
hereunder shall, to the extent and in the manner hereinafter set forth, be
subordinated and junior in right of payment to all Senior Debt, whether
outstanding at the date of this Indenture or thereafter incurred.

 

No provision of this Article Fourteen
shall prevent the occurrence of any Event of Default hereunder or any event
which with the giving of notice or the passage of time or both would constitute
an Event of Default.

 

Section 14.02 Priority of
Senior Debt.   In the event and during
the continuation of any default by the Company in the payment of principal,
premium, interest or any other payment due on any Senior Debt, or in the event
that the maturity of any Senior Debt has been accelerated because of a default,
then, in either case, no payment shall be made by the Company with respect to
the principal (including redemption payments) of or premium, if any, or
interest on the Securities until such default shall have been cured or waived
in writing or shall have ceased to exist or such Senior Debt shall have been
discharged or paid in full.

 

In the event of the
acceleration of the maturity of the Securities, then no payment shall be made
by the Company with respect to the principal (including redemption payments) of
or premium, if any, or interest on the Securities until the holders of all
Senior Debt outstanding at the time of such acceleration shall receive payment
in full of such Senior Debt (including any amounts due upon acceleration).

 

In the event that,
notwithstanding the foregoing, any payment shall be received by the Trustee or
any Holder when such payment is prohibited by the preceding paragraphs of this Section 14.02,
such payment shall be held in trust for the benefit of, and shall be paid over
or delivered to, the holders of Senior Debt or their respective
representatives, or to the trustee or trustees under any indenture pursuant to
which any of such Senior Debt may have been issued, as their respective
interests may appear.

 

Section 14.03 Payments upon
Bankruptcy.   Upon any payment by the
Company or distribution of assets of the Company of any kind or character,
whether in cash property or securities, to creditors upon any liquidation,
dissolution, winding up, receivership, reorganization, assignment for the
benefit of creditors, marshaling of assets and liabilities or any bankruptcy,
insolvency or similar proceedings of the Company, all amounts due or to become
due upon all Senior Debt shall first be paid in full, in cash or cash
equivalents, or payment thereof provided for in accordance with its terms,
before any payment is made on account of the principal of, premium, if any, or
interest on the indebtedness evidenced by the Securities, and upon any such
liquidation, dissolution, winding up, receivership, reorganization, assignment,
marshaling or proceeding, any payment or distribution of assets of the Company
of any kind or character, whether in cash, property or securities, to which the
Holders or the Trustee under this Indenture would be entitled except for the
provisions of this Article Fourteen, shall be paid by the Company or by
any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person
making such payment or distribution, directly to the holders of Senior Debt
(pro rata to such holders on the basis of the respective amounts of Senior Debt
held by such holders) or their respective representatives, or to the trustee or
trustees under any indenture pursuant to which any instruments evidencing any
of such Senior Debt may have been issued, as their respective interests may
appear, to the extent necessary to pay all Senior Debt in full (including,
without limitation, except to the extent, if any, prohibited by mandatory
provisions of law, post-petition interest, in any such proceedings), after
giving effect to any concurrent payment or distribution to or for the holders
of Senior Debt, before any payment or distribution is made to the Holders of
the indebtedness evidenced by the Securities or to the Trustee under this
Indenture.

 

In the event that,
notwithstanding the foregoing, any payment or distribution of assets of the
Company of any kind or character, whether in cash, property or securities,
prohibited by the foregoing, shall be received by the Trustee under this
Indenture or the Holders of the Securities before all Senior Debt is paid in
full or provision is made for such payment in accordance with its terms, such
payment or distribution shall be held in trust for the benefit of and shall be
paid over or delivered to the holders of such Senior Debt or their respective
representatives, or to the trustee or trustees under any indenture pursuant to
which any instruments evidencing any of such Senior Debt may have been issued,
as their respective interests may appear, for application to the payment of all
Senior Debt remaining unpaid until all such Senior Debt shall have been paid in
full in accordance with its terms, after giving effect to any concurrent
payment or distribution to or for the holders of such Senior Debt.

 

For purposes of this Article Fourteen,
the words “cash, property or securities” shall not be deemed to include shares
of stock of the Company as reorganized or readjusted, or securities of the
Company or any other corporation provided for by a plan of arrangement,
reorganization or readjustment, the payment of which is subordinated (at least
to the extent provided in this Article Fourteen with respect to the
Securities) to the payment of all Senior Debt which may at the time be
outstanding; provided, that (i) the Senior Debt is assumed by the new
corporation, if any, resulting from any such arrangement, reorganization or
readjustment, and (ii) the rights of the holders of the Senior Debt are
not, without the consent of such holders, altered by such arrangement,
reorganization or readjustment. The consolidation of the Company with, or the
merger of the Company into, another corporation or the liquidation or
dissolution of the Company following the conveyance or transfer of its property
as an entirety, or substantially as an entirety, to another corporation upon
the terms and conditions provided in Article Eight shall not be deemed a
dissolution, winding-up, liquidation or reorganization for the purposes of this
Section if such other Person shall, as a part of such consolidation,
merger, 

 

37

 

conveyance
or transfer, comply with the conditions stated in Article Eight. Nothing
in Section 14.02 or this Section 14.03 shall apply to claims of, or
payments to, the Trustee under or pursuant to Article Six. This Section shall
be subject to the further provisions of Section 14.06.

 

Section 14.04 Subrogation;
Rights not Impaired.   Subject to the
payment in full of all Senior Debt, the rights of the Holders of the Securities
shall be subrogated to the rights of the holders of Senior Debt to receive
payments or distributions of cash, property or securities of the Company
applicable to the Senior Debt until the principal of, premium, if any, and
interest on the Securities shall be paid in full; and, for the purposes of such
subrogation, no payments or distributions to the holders of the Senior Debt of
any cash, property or securities to which the Holders of the Securities or the
Trustee on their behalf would be entitled except for the provisions of this Article Fourteen
and no payment over pursuant to the provisions of this Article Fourteen to
the holders of Senior Debt by Holders of the Securities or the Trustee on their
behalf shall, as between the Company, its creditors other than holders of
Senior Debt and the Holders of the Securities, be deemed to be a payment by the
Company to or on account of the Senior Debt; and no payments or distributions
of cash, property or securities to or for the benefit of the Holders pursuant
to the subrogation provisions of this Article, which would otherwise have been
paid to the holders of Senior Debt shall be deemed to be a payment by the
Company to or for the account of the Securities. It is understood that the
provisions of this Article Fourteen are and are intended solely for the
purpose of defining the relative rights of the Holders of the Securities, on
the one hand, and the holders of the Senior Debt, on the other hand.

 

Nothing contained in this Article Fourteen
or elsewhere in this Indenture or in the Securities is intended to or shall
impair, as between the Company, its creditors other than the holders of Senior
Debt, and the Holders of the Securities, the obligation of the Company, which
is absolute and unconditional, to pay to the Holders of the Securities the
principal, premium, if any, and interest on the Securities as and when the same
shall become due and payable in accordance with their terms, or is intended to or
shall affect the relative rights of the Holders of the Securities and creditors
of the Company other than the holders of the Senior Debt, nor shall anything
herein or therein prevent the Holder of any Security or the Trustee on his or
her behalf from exercising all remedies otherwise permitted by applicable law
upon default under this Indenture, subject to the rights, if any, under this Article Fourteen
of the holders of Senior Debt in respect of cash, property or securities of the
Company received upon the exercise of any such remedy.

 

Upon any payment or
distribution of assets of the Company referred to in this Article Fourteen,
the Trustee, subject to the provisions of Article Six, and the Holders of
the Securities shall be entitled to rely upon any order or decree made by any
court of competent jurisdiction in which such liquidation, dissolution, winding
up, receivership, reorganization, assignment or marshaling proceedings are
pending, or a certificate of the receiver, trustee in bankruptcy, liquidating
trustee, agent or other person making such payment or distribution, delivered
to the Trustee or to the Holders of the Securities, for the purpose of
ascertaining the persons entitled to participate in such distribution, the
holders of the Senior Debt and other indebtedness of the Company, the amount
thereof or payable thereon, the amount or amounts paid or distributed thereon
and all other facts pertinent thereto or to this Article Fourteen.

 

Section 14.05 Authorization of
Trustee.   Each Holder of a Security by
his or her acceptance thereof authorizes and directs the Trustee in his or her
behalf to take such action as may be necessary or appropriate to effectuate the
subordination provided in this Article Fourteen and appoints the Trustee
his or her attorney-in-fact for any and all such purposes.

 

Section 14.06 Notice of the
Trustee.   The Company shall give prompt
written notice to the Trustee and to any Paying Agent of any fact known to the
Company which would prohibit the making of any payment of moneys to or by the
Trustee or any Paying Agent in respect of the Securities pursuant to the
provisions of this Article Fourteen. Regardless of anything to the
contrary contained in this Article Fourteen or elsewhere in this
Indenture, the Trustee shall not be charged with knowledge of the existence of
any Senior Debt or of any default or event of default with respect to any
Senior Debt or of any other facts which would prohibit the making of any
payment of moneys to or by the Trustee, unless and until a Responsible Officer
of the Trustee shall have received notice in writing at its principal Corporate
Trust Office to that effect signed by an officer of the Company, or by a holder
or agent of a holder of Senior Debt who shall have been certified by the
Company or otherwise established to the reasonable satisfaction of the Trustee
to be such holder or agent, or by the trustee under any indenture pursuant to
which Senior Debt shall be outstanding, and, prior to the receipt of any such
written notice, the Trustee shall, subject to the provisions of Article Six,
be entitled to assume that no such facts exist; provided, however, that if on a
date at least three Business Days prior to the date upon which by the terms
hereof any such moneys shall become payable for any purpose (including, without
limitation, the payment of the principal of, or interest on any Security) the
Trustee shall not have received with respect to such moneys the notice provided
for in this Section 14.06, then, regardless of anything herein to the contrary,
the Trustee shall have full power and authority to receive such moneys and to
apply the same to the purpose for which they were received, and shall not be
affected by any notice to the contrary which may be received by it on or after
such prior date.

 

The Trustee shall be entitled
to conclusively rely on the delivery to it of a written notice by a Person
representing himself to be a holder of Senior Debt (or a trustee or agent on
behalf of such holder) to establish that such notice has been given by a holder
of Senior Debt or a trustee or agent on behalf of any such holder. In the event
that the Trustee determines in good faith that further evidence is required
with respect to the right of any Person as a holder of Senior Debt to
participate in any payment or distribution pursuant to this Article Fourteen,
the Trustee may request such Person to furnish evidence to the reasonable
satisfaction of the Trustee as to the amount of Senior Debt held by such
Person, the extent to which such Person is entitled to participate in such
payment or distribution and any other facts pertinent to the rights of such
Person under this Article Fourteen, and if such evidence is not furnished
the Trustee may defer any payment to such Person pending judicial determination
as to the right of such Person to receive such payment.

 

Section 14.07 Holders of
Senior Debt; Trustee’s Obligations.   The
Trustee and any agent of the Company or the Trustee shall be entitled to all
the rights set forth in this Article Fourteen with respect to any Senior
Debt which may at any time be held by it in its individual or any other
capacity to the same extent as any other holder of Senior Debt and nothing in
this Indenture shall deprive the Trustee or any such agent, of any of its
rights as such holder. Nothing in this Article Fourteen shall apply to
claims of, or payments to, the Trustee under or pursuant to Article Six.

 

38

 

With respect to the holders
of Senior Debt, the Trustee undertakes to perform or to observe only such of
its covenants and obligations as are specifically set forth in this Article Fourteen,
and no implied covenants or obligations with respect to the holders of Senior
Debt shall be read into this Indenture against the Trustee. The Trustee shall
not be deemed to owe any fiduciary duty to the holders of Senior Debt and,
subject to the provisions of Article Six, the Trustee shall not be liable
to any holder of Senior Debt if it shall pay over or deliver to holders of
Securities, the Company or any other Person moneys or assets to which any
holder of Senior Debt shall be entitled by virtue of this Article Fourteen
or otherwise.

 

Section 14.08 Actions by
Holders of Senior Debt.   No right of any
present or future holder of any Senior Debt to enforce subordination as herein
provided shall at any time in any way be prejudiced or impaired by any act or
failure to act on the part of the Company or by any act or failure to act, in
good faith, by any such holder, or by any noncompliance by the Company with the
terms, provisions and covenants of this Indenture, regardless of any knowledge
thereof which any such holder may have or otherwise be charged with.

 

Without in any way limiting
the generality of the foregoing paragraph, the holders of Senior Debt may, at
any time and from time to time, without the consent of or notice to the Trustee
or the Holders, without incurring responsibility to the Holders and without
impairing or releasing the subordination provided in this Article Fourteen
or the obligations hereunder of the Holders of the Securities to the holders of
such Senior Debt, do any one or more of the following: (i) change the
manner, place or terms of payment or extend the time of payment of, or renew or
alter, such Senior Debt, or otherwise amend or supplement in any manner such
Senior Debt or any instrument evidencing the same or any agreement under which
such Senior Debt is outstanding; (ii) sell, exchange, release or otherwise
deal with any property pledged, mortgaged or otherwise securing such Senior
Debt; (iii) release any Person liable in any manner for the collection of
such Senior Debt; and (iv) exercise or refrain from exercising any rights
against the Company, as the case may be, and any other Person.

 

Section 14.09 Paying
Agent.   In case at any time any paying agent other
than the Trustee shall have been appointed by the Company and be then acting
hereunder, the term “Trustee” as used in this Article Fourteen shall in
such case (unless the context otherwise requires) be construed as extending to
and including such paying agent within its meaning as fully for all intents and
purposes as if such paying agent were named in this Article Fourteen in
addition to or in place of the Trustee; provided that Sections 14.06 and 14.07
shall not apply to the Company if acting as a Paying Agent.

 

Section 14.10 Monies Held in
Trust.   Notwithstanding anything
contained herein to the contrary, payments from money or the proceeds of U.S.
Government Obligations held in trust under Sections 4.01 or 13.04 of this
Indenture by the Trustee for the payment of principal of, premium, if any, and
interest on the Securities shall not be subordinated to the prior payment of
any Senior Debt or subject to the restrictions set forth in this Article Fourteen,
and none of the Holders shall be obligated to pay over any such amount to the
Company or any holder of Senior Debt or any other creditor of the Company.

 

ARTICLE 15

 

GUARANTEES

 

Section 15.01 Guarantee. Any
series of Securities may be guaranteed by one or more of the Guarantors. The
terms and the form of any such Guarantee will be established in the manner
contemplated by Section 3.01 for that particular series of Securities.

 

39

 

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

 

	
   

  	
  INTERLINE
  BRANDS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE
  BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

  
	
   

  	
  as
  Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

40

 

	
   

  	
  [GUARANTOR]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

41EXHIBIT 4.7

 

INTERLINE BRANDS, INC.

A NEW JERSEY CORPORATION

 

AND

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

 

TRUSTEE

 

FORM OF SENIOR DEBT INDENTURE

 

GUARANTEED TO THE EXTENT SET FORTH HEREIN

BY THE GUARANTORS NAMED HEREIN

DATED AS OF
           , 20    

 

 

INTERLINE BRANDS, INC.

 

Reconciliation and tie between Trust Indenture Act of 1939

and Indenture, dated as of
            , 20     

 

	
  TRUST INDENTURE ACT SECTION

  	
   

  	
  INDENTURE SECTION

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  310

  	
  (a)(1)

  	
   

  	
   

  	
  6.09

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
   

  	
  6.09

  	
   

  
	
   

  	
  (a)(3)

  	
   

  	
   

  	
  Not
  Applicable

  	
   

  
	
   

  	
  (a)(4)

  	
   

  	
   

  	
  Not
  Applicable

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  6.08,
  6.10

  	
   

  
	
  311

  	
  (a)

  	
   

  	
   

  	
  6.13

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  6.13

  	
   

  
	
   

  	
  (b)(2)

  	
   

  	
   

  	
  7.03(a),
  7.03(b)

  	
   

  
	
  312

  	
  (a)

  	
   

  	
   

  	
  7.01,
  7.02(a)

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  7.02(b)

  	
   

  
	
   

  	
  (c)

  	
   

  	
   

  	
  7.02(c)

  	
   

  
	
  313

  	
  (a)

  	
   

  	
   

  	
  7.03(a)

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  7.03(a)

  	
   

  
	
   

  	
  (c)

  	
   

  	
   

  	
  7.03(a),
  7.03(b)

  	
   

  
	
   

  	
  (d)

  	
   

  	
   

  	
  7.03(b)

  	
   

  
	
  314

  	
  (a)

  	
   

  	
   

  	
  7.04

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  Not
  Applicable

  	
   

  
	
   

  	
  (c)(1)

  	
   

  	
   

  	
  1.02

  	
   

  
	
   

  	
  (c)(2)

  	
   

  	
   

  	
  1.02

  	
   

  
	
   

  	
  (c)(3)

  	
   

  	
   

  	
  Not
  Applicable

  	
   

  
	
   

  	
  (d)

  	
   

  	
   

  	
  Not
  Applicable

  	
   

  
	
   

  	
  (e)

  	
   

  	
   

  	
  1.02

  	
   

  
	
  315

  	
  (a)

  	
   

  	
   

  	
  6.01(a)

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  6.02,
  7.03(a)

  	
   

  
	
   

  	
  (c)

  	
   

  	
   

  	
  6.01(b)

  	
   

  
	
   

  	
  (d)

  	
   

  	
   

  	
  6.01(c)

  	
   

  
	
   

  	
  (d)(1)

  	
   

  	
   

  	
  6.01(a),
  6.01(c)

  	
   

  
	
   

  	
  (d)(2)

  	
   

  	
   

  	
  6.01(c)

  	
   

  
	
   

  	
  (d)(3)

  	
   

  	
   

  	
  6.01(c)

  	
   

  
	
   

  	
  (e)

  	
   

  	
   

  	
  5.14

  	
   

  
	
  316

  	
  (a)(1)(A)

  	
   

  	
   

  	
  5.12

  	
   

  
	
   

  	
  (a)(1)(B)

  	
   

  	
   

  	
  5.02,
  5.13

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
   

  	
  Not
  Applicable

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  5.08

  	
   

  
	
   

  	
  (c)

  	
   

  	
   

  	
  1.04(e)

  	
   

  
	
  317

  	
  (a)(1)

  	
   

  	
   

  	
  5.03

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
   

  	
  5.04

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  10.05

  	
   

  
	
  318

  	
  (a)

  	
   

  	
   

  	
  1.07

  	
   

  

 

i

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
  Page

  
	
  ARTICLE 1 DEFINITIONS AND OTHER PROVISIONS OF GENERAL
  APPLICATION 

  	
  1

  
	
   

  	
   

  
	
  Section 1.01

  	
  Definitions

  	
  1

  
	
  Section 1.02

  	
  Compliance Certificates and Opinions

  	
  5

  
	
  Section 1.03

  	
  Form of Documents Delivered to Trustee

  	
  5

  
	
  Section 1.04

  	
  Acts of Holders

  	
  5

  
	
  Section 1.05

  	
  Notices, Etc.,

  	
  6

  
	
  Section 1.06

  	
  Notice to Holders; Waiver

  	
  6

  
	
  Section 1.07

  	
  Conflict with Trust Indenture Act

  	
  6

  
	
  Section 1.08

  	
  Effect of Headings and Table of Contents

  	
  6

  
	
  Section 1.09

  	
  Successors and Assigns

  	
  6

  
	
  Section 1.10

  	
  Separability Clause

  	
  7

  
	
  Section 1.11

  	
  Benefits of Indenture

  	
  7

  
	
  Section 1.12

  	
  Governing Law

  	
  7

  
	
  Section 1.13

  	
  Legal Holidays

  	
  7

  
	
  Section 1.14

  	
  No Recourse Against Others

  	
  7

  
	
  Section 1.15

  	
  Judgment Currency

  	
  7

  
	
  Section 1.16

  	
  Counterparts

  	
  7

  
	
   

  	
   

  	
   

  
	
  ARTICLE 2 SECURITY FORMS

  	
  7

  
	
   

  	
   

  
	
  Section 2.01

  	
  Forms Generally

  	
  7

  
	
  Section 2.02

  	
  Form of Face of Security

  	
  8

  
	
  Section 2.03

  	
  Form of Reverse of Security

  	
  9

  
	
  Section 2.04

  	
  Form of Trustee’s Certificate of Authentication

  	
  11

  
	
  Section 2.05

  	
  Securities in Global Form

  	
  12

  
	
  Section 2.06

  	
  Form of Legend for the Securities in Global Form

  	
  12

  
	
   

  	
   

  	
   

  
	
  ARTICLE 3 THE SECURITIES

  	
  12

  
	
   

  	
   

  
	
  Section 3.01

  	
  Amount Unlimited; Issuable in Series

  	
  12

  
	
  Section 3.02

  	
  Denominations

  	
  14

  
	
  Section 3.03

  	
  Execution, Authentication, Delivery and Dating

  	
  14

  
	
  Section 3.04

  	
  Temporary Securities

  	
  15

  
	
  Section 3.05

  	
  Registration, Registration of Transfer and Exchange

  	
  15

  
	
  Section 3.06

  	
  Mutilated, Destroyed, Lost and Stolen Securities

  	
  16

  
	
  Section 3.07

  	
  Payment of Interest; Interest Rights Preserved

  	
  17

  
	
  Section 3.08

  	
  Persons Deemed Owners

  	
  17

  
	
  Section 3.09

  	
  Cancellation

  	
  17

  
	
  Section 3.10

  	
  Computation of Interest

  	
  17

  
	
  Section 3.11

  	
  CUSIP Number

  	
  17

  
	
  Section 3.12

  	
  Wire Transfers

  	
  18

  
	
   

  	
   

  	
   

  
	
  ARTICLE 4 SATISFACTION AND DISCHARGE

  	
  18

  
	
   

  	
   

  
	
  Section 4.01

  	
  Satisfaction and Discharge of Indenture

  	
  18

  
	
  Section 4.02

  	
  Application of Trust Money

  	
  18

  
	
  Section 4.03

  	
  Application to a Specific Series of Securities

  	
  18

  
	
   

  	
   

  	
   

  
	
  ARTICLE 5 REMEDIES

  	
  18

  
	
   

  	
   

  	
   

  
	
  Section 5.01

  	
  Events of Default

  	
  18

  
	
  Section 5.02

  	
  Acceleration of Maturity; Rescission and Annulment

  	
  19

  
	
  Section 5.03

  	
  Collection of Indebtedness and Suits for Enforcement by
  Trustee

  	
  20

  
	
  Section 5.04

  	
  Trustee May File Proofs of Claim

  	
  20

  
	
  Section 5.05

  	
  Trustee May Enforce Claims Without Possession of
  Securities

  	
  20

  
	
  Section 5.06

  	
  Application of Money Collected

  	
  20

  
	
  Section 5.07

  	
  Limitation on Suits

  	
  21

  
	
  Section 5.08

  	
  Unconditional Right of Holders to Receive Principal,
  Premium and Interest

  	
  21

  
	
  Section 5.09

  	
  Restoration of Rights and Remedies

  	
  21

  
	
  Section 5.10

  	
  Rights and Remedies Cumulative

  	
  21

  
	
  Section 5.11

  	
  Delay or Omission Not Waiver

  	
  21

  
	
  Section 5.12

  	
  Control by Holders

  	
  21

  
	
  Section 5.13

  	
  Waiver of Past Defaults

  	
  22

  
	
  Section 5.14

  	
  Undertaking for Costs

  	
  22

  
	
   

  	
   

  	
   

  
	
  ARTICLE 6 THE TRUSTEE

  	
  22

  
	
   

  	
   

  
	
  Section 6.01

  	
  Certain Duties and Responsibilities of the Trustee

  	
  22

  
	
  Section 6.02

  	
  Notice of Defaults

  	
  22

  

 

ii

 

	
  Section 6.03

  	
  Certain Rights of Trustee

  	
  22

  
	
  Section 6.04

  	
  Not Responsible for Recitals or Issuance of Securities

  	
  23

  
	
  Section 6.05

  	
  May Hold Securities

  	
  23

  
	
  Section 6.06

  	
  Money Held in Trust

  	
  23

  
	
  Section 6.07

  	
  Compensation and Reimbursement

  	
  23

  
	
  Section 6.08

  	
  Disqualification; Conflicting Interests

  	
  24

  
	
  Section 6.09

  	
  Corporate Trustee Required; Eligibility

  	
  24

  
	
  Section 6.10

  	
  Resignation and Removal; Appointment of Successor

  	
  24

  
	
  Section 6.11

  	
  Acceptance of Appointment by Successor

  	
  25

  
	
  Section 6.12

  	
  Merger, Conversion, Consolidation or Succession to Business

  	
  25

  
	
  Section 6.13

  	
  Preferential Collection of Claims Against Company

  	
  25

  
	
  Section 6.14

  	
  Appointment of Authenticating Agent

  	
  25

  
	
  Section 6.15

  	
  Compliance with Tax Laws

  	
  26

  
	
   

  	
   

  	
   

  
	
  ARTICLE 7 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

  	
  26

  
	
   

  	
   

  
	
  Section 7.01

  	
  Company to Furnish Trustee Names and Addresses of Holders

  	
  26

  
	
  Section 7.02

  	
  Preservation of Information; Communications to Holders

  	
  27

  
	
  Section 7.03

  	
  Reports by Trustee

  	
  27

  
	
  Section 7.04

  	
  Reports by Company

  	
  27

  
	
   

  	
   

  	
   

  
	
  ARTICLE 8 CONSOLIDATION, MERGER, LEASE, SALE OR TRANSFER

  	
  28

  
	
   

  	
   

  
	
  Section 8.01

  	
  When Company May Merge, Etc

  	
  28

  
	
  Section 8.02

  	
  Opinion of Counsel

  	
  28

  
	
  Section 8.03

  	
  Successor Corporation Substituted

  	
  28

  
	
   

  	
   

  	
   

  
	
  ARTICLE 9 SUPPLEMENTAL INDENTURES

  	
  28

  
	
   

  	
   

  
	
  Section 9.01

  	
  Supplemental Indentures Without Consent of Holders

  	
  28

  
	
  Section 9.02

  	
  Supplemental Indentures with Consent of Holders

  	
  29

  
	
  Section 9.03

  	
  Execution of Supplemental Indentures

  	
  29

  
	
  Section 9.04

  	
  Effect of Supplemental Indentures

  	
  30

  
	
  Section 9.05

  	
  Conformity with Trust Indenture Act

  	
  30

  
	
  Section 9.06

  	
  Reference in Securities to Supplemental Indentures

  	
  30

  
	
   

  	
   

  	
   

  
	
  ARTICLE 10 COVENANTS

  	
  30

  
	
   

  	
   

  
	
  Section 10.01

  	
  Payments of Securities

  	
  30

  
	
  Section 10.02

  	
  Maintenance of Office or Agency

  	
  30

  
	
  Section 10.03

  	
  Compliance Certificates

  	
  30

  
	
  Section 10.04

  	
  Waiver of Stay, Extension or Usury Laws

  	
  30

  
	
  Section 10.05

  	
  Money for Securities Payments to Be Held in Trust

  	
  30

  
	
  Section 10.06

  	
  Waiver of Certain Covenants

  	
  31

  
	
   

  	
   

  	
   

  
	
  ARTICLE 11 REDEMPTION OF SECURITIES

  	
  31

  
	
   

  	
   

  
	
  Section 11.01

  	
  Applicability of Article

  	
  31

  
	
  Section 11.02

  	
  Election to Redeem; Notice to Trustee

  	
  31

  
	
  Section 11.03

  	
  Selection by Trustee of Securities to Be Redeemed

  	
  31

  
	
  Section 11.04

  	
  Notice of Redemption

  	
  32

  
	
  Section 11.05

  	
  Deposit of Redemption Price

  	
  32

  
	
  Section 11.06

  	
  Securities Payable on Redemption Date

  	
  32

  
	
  Section 11.07

  	
  Securities Redeemed in Part

  	
  32

  
	
   

  	
   

  	
   

  
	
  ARTICLE 12 SINKING FUNDS

  	
  33

  
	
   

  	
   

  
	
  Section 12.01

  	
  Applicability of Article

  	
  33

  
	
  Section 12.02

  	
  Satisfaction of Sinking Fund Payments with Securities

  	
  33

  
	
  Section 12.03

  	
  Redemption of Securities for Sinking Fund

  	
  33

  
	
   

  	
   

  	
   

  
	
  ARTICLE 13 DEFEASANCE AND COVENANT DEFEASANCE

  	
  33

  
	
   

  	
   

  
	
  Section 13.01

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

  	
  33

  
	
  Section 13.02

  	
  Defeasance and Discharge

  	
  33

  
	
  Section 13.03

  	
  Covenant Defeasance

  	
  33

  
	
  Section 13.04

  	
  Conditions to Defeasance or Covenant Defeasance

  	
  34

  
	
  Section 13.05

  	
  Deposited Money and Government Obligations To Be Held in
  Trust

  	
  34

  
	
  Section 13.06

  	
  Reinstatement

  	
  35

  
	
   

  	
   

  	
   

  
	
  ARTICLE 14 GUARANTEES

  	
  35

  
	
   

  	
   

  
	
  Section 14.01

  	
  Guarantee

  	
  35

  

 

iii

 

INDENTURE, dated as of
                                ,
20    , between INTERLINE BRANDS, INC., a New Jersey
corporation (herein called the “COMPANY”), the GUARANTORS listed on Schedule 1
hereto (herein called the “GUARANTORS”) and THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as Trustee (herein called the “TRUSTEE”).

 

RECITALS OF
THE COMPANY

 

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

 

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

 

NOW,
THEREFORE, THIS INDENTURE WITNESSETH:

 

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

 

ARTICLE 1

 

DEFINITIONS
AND OTHER PROVISIONS OF GENERAL APPLICATION

 

Section 1.01    Definitions.
For all purposes of this Indenture, except as otherwise expressly provided or
unless the context otherwise requires:

 

(1) the
terms defined in this Article have the meanings assigned to them in this Article and
include the plural as well as the singular;

 

(2) all
other terms used herein which are defined in the Trust Indenture Act, either
directly or by reference therein, or defined by Commission rule and not
otherwise defined herein, have the meanings assigned to them therein;

 

(3) all
accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with GAAP;

 

(4) the
word “INCLUDING” (and with correlative meaning “INCLUDE”) means including,
without limiting the generality of, any description preceding such term; and

 

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

 

“ACT,” when used with respect
to any Holder, has the meaning specified in Section 1.04.

 

“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
purposes of this definition, “CONTROL” (including, with correlative meanings,
the terms “CONTROLLING,” “CONTROLLED BY” and “UNDER COMMON CONTROL WITH”), as
used with respect to any Person, shall mean the possession, directly or
indirectly, of the power to direct or cause the direction of the management or
policies of such Person, whether through the ownership of voting securities, by
agreement or otherwise. For purposes of this definition, the terms “controlling,”
“controlled by” and “under common control with” shall have correlative
meanings.

 

“AUTHENTICATING AGENT” means
any Person authorized by the Trustee to act on behalf of the Trustee to
authenticate Securities.

 

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

 

“BOARD OF DIRECTORS” means
the board of directors of the Company; provided, however, that when the context
refers to actions or resolutions of the Board of Directors, then the term “BOARD
OF DIRECTORS” shall also mean any duly authorized committee of the Board of
Directors of the Company authorized to act with respect to any particular
matter to exercise the power of the Board of Directors of the Company.

 

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

 

“BUSINESS DAY,” when used
with respect to any Place of Payment or any other particular location referred
to in this Indenture or in the Securities of any series, means each Monday,
Tuesday, Wednesday, Thursday and Friday which is not a day on which banking
institutions in that Place of Payment are authorized or obligated by law or
regulation to close.

 

1

 

“CAPITAL STOCK” means, with
respect to any Person, any and all shares, interests, participations, warrants,
rights, options or other equivalents (however designated) of capital stock or
any other equity interest of such Person, including each class of common stock
and preferred stock.

 

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

 

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

 

“COMPANY REQUEST” or “COMPANY
ORDER” means a written request or order signed in the name of the Company by
any two Officers, at least one of whom must be its Chairman of the Board, its
Chief Executive Officer, its President, its Chief Financial Officer, its Chief
Accounting Officer, its Treasurer, an Assistant Treasurer or its Controller,
and delivered to the Trustee.

 

“CORPORATE TRUST OFFICE”
means the office of the Trustee at which at any particular time its corporate
trust business shall be principally administered, which office at the date
hereof is located at The Bank of New York Mellon Trust Company, N.A., 10161
Centurion Parkway, Jacksonville, FL 32256; Attn: Corporate Trust Administration.

 

“COVENANT DEFEASANCE” has the
meaning specified in Section 13.03.

 

“CURRENCY UNIT” or “CURRENCY
UNITS” shall mean any composite currency.

 

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

 

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

 

“DEFAULTED INTEREST” has the
meaning specified in Section 3.07.

 

“DEFEASANCE” has the meaning
specified in Section 13.02.

 

“DEPOSITARY” means, with
respect to the Securities of any series issuable or issued in whole or in part
in the form of one or more global Securities, the Person designated as
Depositary by the Company pursuant to Section 3.01 until a successor
Depositary shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Depositary” shall mean or include each Person who is
then a Depositary hereunder, and if at any time there is more than one such
Person, “Depositary” shall mean the Depositary with respect to the Securities
of that series.

 

“DOLLARS” and “$” means
lawful money of the United States of America.

 

“EVENT OF DEFAULT” has the
meaning specified in Section 5.01.

 

“EXCHANGE ACT” means the
Securities Exchange Act of 1934, as amended from time to time, and the rules and
regulations promulgated thereunder.

 

“GAAP” means such accounting
principles as are generally accepted in the United States of America which are
in effect on the date hereof.

 

“GUARANTEE” means the
guarantee by any Guarantor of the obligations under this Indenture.

 

“HOLDER” or “SECURITYHOLDER”
means a Person in whose name a Security is registered in the Security Register.

 

“INDEBTEDNESS” means, with
respect to any Person (without duplication for indebtedness or other
obligations of such Person), any indebtedness of such Person for money
borrowed, whether incurred, assumed or guaranteed, and including obligations
under capitalized leases.

 

“INDENTURE” means this
instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered
into pursuant to the applicable provisions hereof and shall include the terms
of particular series of Securities established as contemplated hereunder.

 

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

 

“INTEREST PAYMENT DATE,” when
used with respect to any Security, means the Stated Maturity of an installment
of interest on such Security.

 

“JUDGMENT CURRENCY” has the
meaning specified in Section 1.15.

 

2

 

“MATURITY,” when used with
respect to any Security, means the date on which the principal of such Security
or an installment of principal becomes due and payable as therein or herein
provided, whether at the Stated Maturity or by declaration of acceleration,
call for redemption or otherwise.

 

“NEW YORK BANKING DAY” has
the meaning specified in Section 1.15.

 

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

 

“OFFICERS’ CERTIFICATE” means
a certificate signed by any two Officers of the Company, at least one of whom
must be its Chief Executive Officer, its President, its Chief Financial
Officer, its Chief Accounting Officer, its Treasurer or its Controller, and
delivered to the Trustee.

 

“OPINION OF COUNSEL” means a
written opinion of counsel, who may be an employee of or counsel for the
Company, and who shall be reasonably acceptable to the Trustee.

 

“ORIGINAL ISSUE DISCOUNT
SECURITY” means any Security which provides for an amount less than the
principal amount thereof to be due and payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 5.02.

 

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

 

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

 

(ii) Securities, or
portions thereof, for whose payment or redemption money in the necessary amount
has been theretofore deposited with the Trustee or any Paying Agent (other than
the Company) in trust or set aside and segregated in trust by the Company (if
the Company shall act as its own Paying Agent) for the Holders of such
Securities; provided that, if such Securities are to be redeemed, notice of
such redemption has been duly given pursuant to this Indenture or provision
therefor reasonably satisfactory to the Trustee has been made;

 

(iii) Securities which
have been paid as provided herein or in exchange for or in lieu of which other
Securities have been authenticated and delivered pursuant to this Indenture,
other than any such Securities in respect of which there shall have been
presented to the Trustee proof reasonably satisfactory to it that such
Securities are held by a bona fide purchaser in whose hands such Securities are
valid obligations of the Company; and

 

(iv) Securities which
have been defeased pursuant to Section 13.02;

 

provided, however, that in
determining whether the Holders of the requisite principal amount of the
Outstanding Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, or whether sufficient funds are
available for redemption or for any other purpose and for the purpose of making
the calculations required by Section 313 of the Trust Indenture Act, (a) the
principal amount of any Original Issue Discount Security that shall be deemed
to be Outstanding for such purposes shall be that portion of the principal
amount thereof that could be declared to be due and payable upon the occurrence
of an Event of Default and the continuation thereof pursuant to the terms of
such Original Issue Discount Security as of the date of such determination, (b) the
principal amount of a Security denominated in one or more foreign currencies or
currency units shall be the dollar equivalent, determined in the manner
provided as contemplated by Section 3.01 on the date of original issuance
of such Security, of the principal amount (or, in the case of an Original Issue
Discount Security, the dollar equivalent on the date of original issuance of
such Security of the amount determined as provided in (a) above) of such
Security, and (c) Securities owned by the Company or any other obligor
upon the Securities or any Affiliate of the Company or of such other obligor
shall be disregarded and deemed not to be Outstanding, except that, in
determining whether the Trustee shall be protected in relying upon any such
request, demand, authorization, direction, notice, consent or waiver, only
Securities which the Trustee knows to be so owned shall be so disregarded.
Securities so owned which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee the
pledgee’s right so to act with respect to such Securities and that the pledgee is
not the Company or any other obligor upon the Securities or any Affiliate of
the Company or of such other obligor.

 

“PAYING AGENT” means any
Person authorized by the Company to pay the principal of, premium, if any, or
interest on any Securities on behalf of the Company. The Company may act as
Paying Agent with respect to any Securities issued hereunder.

 

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

 

“PLACE OF PAYMENT,” when used
with respect to the Securities of any series, means the place or places where
the principal of (and premium, if any) and interest on the Securities of that
series are payable as specified as contemplated by Section 3.01.

 

“PREDECESSOR SECURITY” of any
particular Security means every previous Security evidencing all or a portion
of the same debt as that evidenced by such particular Security and, for the
purposes of this definition, any Security authenticated and delivered under Section 3.06
in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security
shall be deemed to evidence the same debt as the mutilated, destroyed, lost or
stolen Security.

 

3

 

“REDEMPTION DATE,” when used
with respect to any Security of any series to be redeemed, means the date fixed
for such redemption by or pursuant to this Indenture.

 

“REDEMPTION PRICE,” when used
with respect to any Security of any series to be redeemed, means the price at
which it is to be redeemed pursuant to this Indenture.

 

“REGISTERED SECURITY” means
any Security issued hereunder and registered in the Security Register.

 

“REGULAR RECORD DATE” for the
interest payable on any Interest Payment Date on the Securities of any series
means the date specified for that purpose as contemplated by Section 3.01.

 

“REQUIRED CURRENCY” has the
meaning specified in Section 1.15.

 

“RESPONSIBLE OFFICER,” when used
with respect to the Trustee, means any officer of the Trustee assigned to
administer corporate trust matters and also means, with respect to a particular
corporate trust matter, any other officer to whom such matter is referred
because of his or her knowledge of and familiarity with the particular subject.

 

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

 

“SECURITY REGISTER” and “SECURITY
REGISTRAR” have the respective meanings specified in Section 3.05.

 

“SIGNIFICANT SUBSIDIARY” of a
Person has the meaning ascribed to such term in Rule 1.02(w) of
Regulation S-X under the Securities Act of 1933, as amended.

 

“SPECIAL RECORD DATE” for the
payment of any Defaulted Interest means a date fixed by the Trustee pursuant to
Section 3.07.

 

“STATED MATURITY,” when used
with respect to any Security or any installment of principal thereof or
interest thereon, means the date specified in such Security as the fixed date
on which the principal of such Security or such installment of principal or
interest is due and payable.

 

“SUBSIDIARY” means, with
respect to any Person:

 

(1) any
corporation, association or other business entity of which more than 50% of the
total voting power of shares of Capital Stock entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers
or trustees thereof is at the time owned or controlled, directly or indirectly,
by such Person or one or more of the other Subsidiaries of that Person (or a
combination thereof); and

 

(2) any
partnership (a) the sole general partner or the managing general partner
of which is such Person or a Subsidiary of such Person or (b) the only
general partners of which are such Person or one or more Subsidiaries of such
Person (or any combination thereof).

 

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

 

“TRUST INDENTURE ACT” means
the Trust Indenture Act of 1939, as amended, as in force at the date as of
which this Indenture was executed; provided, however, that in the event that
such Act is amended after such date, “Trust Indenture Act” means, to the extent
required by any such amendment, the Trust Indenture Act of 1939 as so amended.

 

“U.S. GOVERNMENT OBLIGATIONS”
means securities which are (i) direct obligations of the United States of
America for the payment of which its full faith and credit is pledged or (ii) obligations
of a Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America the timely payment of which is
unconditionally guaranteed by the full faith and credit of the United States of
America which, in either case, are not callable or redeemable at the option of
the issuer thereof or otherwise subject to prepayment, and shall also include a
depository receipt issued by a New York Clearing House bank or trust company as
custodian with respect to any such U.S. Government Obligation, or a specific
payment of interest on or principal of any such U.S. Government Obligation held
by such custodian for the account of the holder of a depository receipt,
provided that (except as required by law) such custodian is not authorized to
make any deduction from the amount payable to the holder of such depository
receipt from any amount held by the custodian in respect of the U.S. Government
Obligation or the specific payment of interest on or principal of the U.S.
Government Obligation evidenced by such depository receipt.

 

“VICE PRESIDENT,” when used
with respect to the Company or the Trustee, means any vice president, whether
or not designated by a number or a word or words added before or after the
title “vice president.”

 

“VOTING STOCK” of any Person
as of any date means the Capital Stock of such Person that is at the time
entitled to vote in the election of the Board of Directors of such Person.

 

4

 

Section 1.02    Compliance
Certificates and Opinions. Upon any application or request by the Company to
the Trustee to take any action under any provision of this Indenture, the
Company shall furnish to the Trustee an Officers’ Certificate stating that all
conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with and an Opinion of Counsel stating that
in the opinion of such counsel all such conditions precedent, if any, have been
complied with, except that in the case of any such application or request as to
which the furnishing of such documents is specifically required by any
provision of this Indenture relating to such particular application or request,
no additional certificate or opinion need be furnished.

 

Every certificate or opinion
with respect to compliance with a condition or covenant provided for in this
Indenture shall include:

 

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

 

(b) 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;

 

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

 

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

 

Section 1.03    Form of
Documents Delivered to Trustee. In any case where several matters are required
to be certified by, or covered by an opinion of, any specified Person, it is
not necessary that all such matters be certified by, or covered by the opinion
of, only one such Person, or that they be so certified or covered by only one
document, but one such Person may certify or give an opinion with respect to
some matters and one or more other such Persons as to other matters, and any
such Person may certify or give an opinion as to such matters in one or several
documents.

 

Any certificate or opinion of
an Officer may be based, insofar as it relates to legal matters, upon a
certificate or opinion of, or representations by, counsel, unless such Officer
actually knows that the certificate or opinion or representations with respect
to the matters upon which his certificate or opinion is based are erroneous.
Any such certificate or Opinion of Counsel may be based, insofar as it relates
to factual matters, upon a certificate or opinion of, or representations by, an
Officer or Officers of the Company stating that the information with respect to
such factual matters is in the possession of the Company, unless such counsel
actually knows that the certificate or opinion or representations with respect
to such matters are erroneous.

 

Any certificate, statement or
opinion of an Officer of the Company or of counsel may be based, insofar as it
relates to accounting matters, upon a certificate or opinion of or
representations by an accountant or firm of accountants in the employ of the
Company, unless such Officer or counsel, as the case may be, actually knows
that the certificate or opinion or representations with respect to the
accounting matters upon which his or her certificate, statement or opinion is
based are erroneous.

 

Where any Person is required
to make, give or execute two or more applications, requests, consents,
certificates, statements, opinions or other instruments under this Indenture,
they may, but need not, be consolidated and form one instrument.

 

Section 1.04    Acts of
Holders.

 

(a) Any request, demand,
authorization, direction, notice, consent, waiver or other action provided by
this Indenture to be given or taken by Holders may be embodied in and evidenced
by one or more instruments of substantially similar tenor signed by such
Holders in person or by agents duly appointed in writing; and, except as herein
otherwise expressly provided, such action shall become effective when such
instrument or instruments are delivered to the Trustee and, where it is hereby
expressly required, to the Company. Such instrument or instruments (and the action
embodied therein and evidenced thereby) are herein sometimes referred to as the
“ACT” of the Holders signing such instrument or instruments. Proof of execution
of any such instrument or of a writing appointing any such agent shall be
sufficient for any purpose of this Indenture and (subject to Section 6.01)
conclusive in favor of the Trustee and the Company, if made in the manner
provided in this Section.

 

(b) The fact and date of
the execution by any Person of any such instrument or writing may be proved by
the affidavit of a witness of such execution or by a certificate of a notary
public or other officer authorized by law to take acknowledgments of deeds,
certifying that the individual signing such instrument or writing acknowledged
to him the execution thereof. Where such execution is by a signer acting in a
capacity other than his individual capacity, such certificate or affidavit
shall also constitute sufficient proof of his authority. The fact and date of
the execution of any such instrument or writing, or the authority of the Person
executing the same, may also be proved in any other manner which the Trustee
deems sufficient.

 

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

 

(d) Any request, demand,
authorization, direction, notice, consent, waiver or other Act of the Holder of
any Security shall bind every future Holder of the same Security and the Holder
of every Security issued upon the registration of transfer thereof or in
exchange therefor or in lieu thereof in respect of anything done, omitted or
suffered to be done by the Trustee or the Company in reliance thereon, whether
or not notation of such action is made upon such Security.

 

5

 

(e) If the Company shall
solicit from the Holders any request, demand, authorization, direction, notice,
consent, waiver or other Act, the Company may, at its option, by or pursuant to
a Board Resolution, fix in advance a record date for the determination of
Holders entitled to give such request, demand, authorization, direction,
notice, consent, waiver or other Act, but the Company shall have no obligation
to do so, provided that the Company may not set a record date for, and the
provisions of this paragraph shall not apply with respect to, the giving or
making of any notice, declaration, request or direction referred to in the
immediately following paragraph. If such a record date is fixed, such request,
demand, authorization, direction, notice, consent, waiver or other Act may be
given before or after such record date, but only the Holders of record at the
close of business on such record date shall be deemed to be Holders for the
purposes of determining whether Holders of the requisite proportion of
Outstanding Securities have authorized or agreed or consented to such request,
demand, authorization, direction, notice, consent, waiver or other Act, and for
that purpose the Outstanding Securities shall be computed as of such record
date; provided that no such authorization, agreement or consent by the Holders
on such record date shall be deemed effective unless it shall become effective
pursuant to the provisions of this Indenture not later than six months after
the record date.

 

(f) The Trustee shall
set a record date, which shall not be more than 15 days prior to the date of
commencement of solicitation of such action contemplated by this section
1.04(f), for the purpose of determining the Holders of Securities of any series
entitled to join in the giving or making of (i) any Notice of Default, (ii) any
declaration of acceleration referred to in Section 5.02, (iii) any
direction referred to in Section 5.12, (iv) any request to institute
proceedings referred to in Section 5.07(2) or (v) any waiver of
past defaults pursuant to Section 5.13, in each case with respect to
Securities of such series. If such a record date is fixed pursuant to this
paragraph, the relevant action may be taken or given before or after such
record date, but only the Holders of record at the close of business on such
record date shall be deemed to be holders of Securities of a series for the
purpose of determining whether Holders of the requisite proportion of
Outstanding Securities of such series have authorized or agreed or consented to
such action, and for that purpose the Outstanding Securities of such series
shall be computed as of such record date; provided that no such action by
Holders on such record date shall be deemed effective unless it shall become
effective pursuant to the provisions of this Indenture not later than six
months after the record date. Nothing in this paragraph shall be construed to
prevent the Trustee from setting a new record date for any action for which a
record date has been set pursuant to this paragraph (whereupon the record date previously
set shall automatically and with no action by any Person be canceled and of no
effect), and nothing in this paragraph shall be construed to render ineffective
any action taken by Holders of the requisite principal amount of Outstanding
Securities of the relevant series on the date such action is taken. Promptly
after any record date is set pursuant to this paragraph, the Trustee, at the
Company’s reasonable expense, shall cause notice of such record date and the
proposed action by Holders to be given to the Company in writing and to each
Holder of Securities of the relevant series in the manner set forth in Section 1.06.

 

Section 1.05    Notices, Etc.,
to Trustee and Company. Any request, demand, authorization, direction, notice,
consent, waiver or Act of Holders or other document provided or permitted by
this Indenture to be made upon, given or furnished to, or filed with,

 

(a) the Trustee by any
Holder or by the Company shall be sufficient for every purpose hereunder if
made, given, furnished or filed in writing and mailed first-class postage
prepaid, to or with the Trustee at The Bank of New York Mellon Trust Company,
N.A., 10161 Centurion Parkway, Jacksonville, FL 32256; Attn: Corporate Trust
Administration; or

 

(b) the Company by the
Trustee or by any Holder shall be sufficient for every purpose hereunder
(unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to the Company addressed to it at Interline Brands, Inc.,
701 San Marco Boulevard, Jacksonville, FL 32207, Attention: Secretary, or at
any other address previously furnished in writing to the Trustee by the
Company.

 

Section 1.06    Notice to
Holders; Waiver. Where this Indenture or any Security provides for notice to
Holders of any event, such notice shall be deemed sufficiently given (unless
otherwise herein or in such Security expressly provided) if in writing and
mailed, first- class postage prepaid, to each Holder affected by such event, at
his address as it appears in the Security Register, not later than the latest
date, and not earlier than the earliest date, prescribed for the giving of such
notice. In any case where notice to Holders is given by mail, neither the
failure to mail such notice, nor any defect in any notice so mailed, to any
particular Holder shall affect the sufficiency of such notice with respect to
other Holders or the validity of the proceedings to which such notice relates.

 

In case by reason of the
suspension of regular mail service or by reason of any other cause it shall be
impracticable to give such notice by mail, then such notification as shall be
made with the approval of the Trustee shall constitute a sufficient
notification for every purpose hereunder.

 

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

 

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

 

Section 1.07    Conflict with
Trust Indenture Act. If any provision hereof limits, qualifies or conflicts
with another provision hereof which is required to be included or deemed
included in this Indenture by any of the provisions of the Trust Indenture Act,
such required provision shall control. If any provision of this Indenture
modifies or excludes any provision of the Trust Indenture Act that may be so
modified or excluded, such provision of the Trust Indenture Act shall be deemed
to apply to this Indenture as so modified or shall be excluded, as the case may
be.

 

Section 1.08    Effect of
Headings and Table of Contents. The Article and Section headings
herein and the Table of Contents are for convenience only and shall not affect
the construction hereof.

 

Section 1.09    Successors and
Assigns. All covenants and agreements in this Indenture by the Company shall
bind its successors and assigns, whether so expressed or not.

 

6

 

 

Section 1.10    Separability
Clause. In case any provision in this Indenture or in the Securities shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 1.11    Benefits of
Indenture. Nothing in this Indenture or in the Securities, express or implied,
shall give to any Person, other than the parties hereto and their successors
hereunder and the Holders, any benefit or any legal or equitable right, remedy
or claim under this Indenture.

 

Section 1.12    Governing Law.
This Indenture and the Securities shall be governed by and construed in
accordance with the laws (other than the choice of law provisions) of the State
of New York.

 

Section 1.13    Legal
Holidays. In any case where any Interest Payment Date, Redemption Date, sinking
fund payment date, Stated Maturity or Maturity of any Security shall not be a
Business Day at any Place of Payment, then (notwithstanding any other provision
of this Indenture or of the Securities other than a provision in the Securities
of any series which specifically states that such provision shall apply in lieu
of this Section) payment of interest or principal (and premium, if any) need
not be made at such Place of Payment on such date, but may be made on the next
succeeding Business Day or on such other day as may be set out in the Officers’
Certificate pursuant to Section 3.01 at such Place of Payment with the
same force and effect as if made on the Interest Payment Date, Redemption Date,
sinking fund payment date, Stated Maturity or Maturity, as the case may be,
provided that no interest shall accrue on the amount so payable for the period
from and after such Interest Payment Date, Redemption Date, sinking fund
payment date, Stated Maturity or Maturity, as the case may be, if payment is
made on such next succeeding Business Day or other day set out in such Officers’
Certificate.

 

Section 1.14    No Recourse
Against Others. A director, officer, employee or stockholder, as such, of the
Company or any Guarantor (other than a stockholder which itself is the Company
or a Guarantor of the Securities) shall not have any liability for any
obligations of the Company or any Guarantor under the Securities or this
Indenture or for any claim based on, in respect of or by reason of such
obligations or their creation. Each Securityholder, by accepting a Security,
waives and releases all such liability. Such waivers and releases are part of
the consideration for the issuance of the Securities.

 

Section 1.15    Judgment
Currency. The Company agrees, to the fullest extent that it may effectively do
so under applicable law, that (a) if for the purpose of obtaining judgment
in any court it is necessary to convert the sum due in respect of the principal
of, or premium or interest, if any, on the Securities of any series (the “REQUIRED
CURRENCY”) into a currency in which a judgment will be rendered (the “JUDGMENT
CURRENCY”), the rate of exchange used shall be the rate at which in accordance
with normal banking procedures the Trustee could purchase in The City of New
York the Required Currency with the Judgment Currency on the New York Banking
Day preceding that on which a final unappealable judgment is given and (b) its
obligations under this Indenture to make payments in the Required Currency (i) shall
not be discharged or satisfied by any tender, or any recovery pursuant to any
judgment (whether or not entered in accordance with subsection (a)), in any
currency other than the Required Currency, except to the extent that such
tender or recovery shall result in the actual receipt, by the payee, of the
full amount of the Required Currency expressed to be payable in respect of such
payments, (ii) shall be enforceable as an alternative or additional cause
of action for the purpose of recovering in the Required Currency the amount, if
any, by which such actual receipt shall fall short of the full amount of the
Required Currency so expressed to be payable and (iii) shall not be
affected by judgment being obtained for any other sum due under this Indenture.
For purposes of the foregoing, “NEW YORK BANKING Day” means any day except a
Saturday, Sunday or a legal holiday in The City of New York or a day on which
banking institutions in The City of New York are authorized or required by law
or executive order to close.

 

Section 1.16    Counterparts.
This instrument may be executed in any number of counterparts, each of which so
executed shall be deemed to be an original, but all such counterparts shall
together constitute but one and the same instrument.

 

ARTICLE 2

 

SECURITY FORMS

 

Section 2.01    Forms
Generally. The Securities of each series shall be in substantially the form set
forth in this Article, or in such other form as shall be established by or
pursuant to a Board Resolution or in one or more indentures supplemental
hereto, in each case with such appropriate insertions, omissions, substitutions
and other variations as are required or permitted by this Indenture, and may
have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of
any securities exchange or as may, consistently herewith, be determined by the
Officers executing such Securities, as evidenced by their execution of the
Securities. If the form of Securities of any series is established by action
taken pursuant to a Board Resolution, a copy of an appropriate record of such
action shall be certified by the Secretary or an Assistant Secretary of the
Company and delivered to the Trustee at or prior to the delivery of the Company
Order contemplated by Section 3.03 for the authentication and delivery of
such Securities.

 

The definitive Securities
shall be printed, lithographed or engraved on steel engraved borders or may be
produced in any other manner, all as determined by the officers executing such
Securities, as evidenced by their execution of such Securities.

 

7

 

Section 2.02    Form of
Face of Security.

 

INTERLINE
BRANDS, INC.

 

	
  No.       

  	
  [$]                

  

 

Interline Brands, Inc, a
corporation duly organized and existing under the laws of New Jersey (herein
called the “COMPANY,” which term includes any successor corporation under the
Indenture hereinafter referred to), for value received, hereby promises to pay
to
                              ,
or registered assigns, the principal sum of
                              
[Dollars] on                               
[if the Security is to bear interest prior to Maturity, insert— and to pay
interest thereon from
                              
or from the most recent Interest Payment Date to which interest has been paid
or duly provided for, semi-annually on
                              
and
                              
in each year [if other than semi-annual payments, insert frequency of payments
and payment dates], commencing
                                          ,
at [if the Security is to bear interest at a fixed rate, insert— the rate of
          % per annum], [if
the Security is to bear interest at a variable or floating rate and if
determined with reference to an index, refer to description of index below]
until the principal hereof is paid or made available for payment [if applicable
insert—, and (to the extent that the payment of such interest shall be legally
enforceable) at the rate of
          % per annum on any
overdue principal and premium and on any overdue installment of interest]. The
interest so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in such Indenture, be paid to the Person in
whose name this Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such interest, which
shall be the                     
or
                    
(whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date. Any such interest not so punctually paid or duly
provided for will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business
on a Special Record Date for the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to Holders of Securities of this
series not less than 10 days prior to such Special Record Date, or be paid at
any time in any other lawful manner not inconsistent with the requirements of
any securities exchange on which the Securities of this series may be listed,
and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture]. [If the Securities are floating or adjustable rate
securities with respect to which the principal of or any premium or interest
may be determined with reference to an index, insert the text of the floating
or adjustable rate provision.]

 

[If
the Security is not to bear interest prior to Maturity, insert— The principal
of this Security shall not bear interest except in the case of a default in
payment of principal upon acceleration, upon redemption or at Stated Maturity
and in such case the overdue principal of this Security shall bear interest at
the rate of           % per
annum (to the extent that the payment of such interest shall be legally
enforceable), which shall accrue from the date of such default in payment to
the date payment of such principal has been made or duly provided for. Interest
on any overdue principal shall be payable on demand. Any such interest on any
overdue principal that is not so paid on demand shall bear interest at the rate
of           % per annum (to
the extent that the payment of such interest shall be legally enforceable), which
shall accrue from the date of such demand for payment to the date payment of
such interest has been made or duly provided for, and such interest shall also
be payable on demand.]

 

Payment of the principal of
(and premium, if any) and [if applicable, insert—any such] interest on this
Security will be made at the office or agency of the Company maintained for
that purpose in
                              ,
in dollars [if applicable, insert—; provided, however, that at the option of
the Company, payment of interest may be made by check mailed to the address of
the Person entitled thereto as such address shall appear in the Security
Register].

 

[If
applicable, insert— So long as all of the Securities of this series are
represented by Securities in global form, the principal of, premium, if any,
and interest, if any, on this global Security shall be paid in same day funds
to the Depositary, or to such name or entity as is requested by an authorized
representative of the Depositary. If at any time the Securities of this series
are no longer represented by global Securities and are issued in definitive
certificated form, then the principal of, premium, if any, and interest, if
any, on each certificated Security at Maturity shall be paid in same day funds
to the Holder upon surrender of such certificated Security at the Corporate
Trust Office of the Trustee, or at such other place or places as may be
designated in or pursuant to the Indenture, provided that such certificated
Security is surrendered to the Trustee, or at such other place or places as may
be designated in or pursuant to the Indenture, provided that such certificated
Security is surrendered to the Trustee, acting as Paying Agent, in time for the
Paying Agent to make such payments in such funds in accordance with its normal
procedures. Payments of interest with respect to such certificated Securities
other than at Maturity may, at the option of the Company, be made by check
mailed to the address of the Person entitled thereto as it appears on the
Security Register on the relevant Regular or Special Record Date or by wire
transfer in same day funds to such account as may have been appropriately
designated to the Paying Agent by such Person in writing not later than such
relevant Regular or Special Record Date.]

 

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

 

Unless the certificate of
authentication hereon has been executed by the Trustee referred to on the reverse
hereof by manual signature, this Security shall not be entitled to any benefit
under the Indenture or be valid or obligatory for any purpose.

 

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

 

	
   

  	
  INTERLINE
  BRANDS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Date:
                   ,
  20         

  

 

8

 

Section 2.03    Form of
Reverse of Security.

 

This Security is one of a
duly authorized issue of securities of the Company (herein called the “SECURITIES”),
issued and to be issued in one or more series under an Indenture, dated as of
                              ,
20     (herein called the “INDENTURE”), between the Company
and
                                        ,
as Trustee (herein called the “TRUSTEE,” which term includes any successor
trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is
one of the series designated on the face hereof [, limited in aggregate
principal amount to $               ].

 

[If
applicable, insert— The Securities of this series are subject to redemption
upon not less than 30 nor more than 60 days’ notice by first class mail, [if
applicable, insert— (1) on
                    
in any year commencing with the year
                    
and ending with the year
                    
through operation of the sinking fund for this series at a Redemption Price
equal to 100% of the principal amount, and (2)] at any time [on or after
                    ,
          ], as a whole or in
part, at the election of the Company, at the following Redemption Prices
(expressed as percentages of the principal amount):

 

If redeemed [on or before
                              ,
          %, and if redeemed]
during the 12-month period beginning
                              
of the years indicated,

 

	
   

  	
   

  	
  REDEMPTION

  	
   

  
	
  YEAR

  	
   

  	
  PRICE

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  

 

and
thereafter at a Redemption Price equal to
          % of the principal
amount, together in the case of any such redemption [if applicable, insert— (whether
through operation of the sinking fund or otherwise)] with accrued and unpaid
interest to the Redemption Date, but interest installments whose Stated
Maturity is on or prior to such Redemption Date will be payable to the Holders
of such Securities, or one or more Predecessor Securities, of record at the
close of business on the relevant Record Dates referred to on the face hereof,
all as provided in the Indenture.]

 

[If
applicable, insert— The Securities of this series are subject to redemption
upon not less than 30 nor more than 60 days’ notice by first class mail, (1) on
                              
in any year commencing with the year                     
and ending with the year
                    
through operation of the sinking fund for this series at the Redemption Prices
for redemption through operation of the sinking fund (expressed as percentages
of the principal amount) set forth in the table below, and (2) at any time
[on or after
                    ],
as a whole or in part, at the election of the Company, at the Redemption Prices
for redemption otherwise than through operation of the sinking fund (expressed
as percentages of the principal amount) set forth in the table below:

 

If redeemed during a 12-month
period beginning                                   
of the years indicated,

 

	
  REDEMPTION PRICE

  	
   

  	
  REDEMPTION PRICE FOR

  	
   

  	
   

  	
   

  
	
  FOR REDEMPTION

  	
   

  	
  REDEMPTION OTHERWISE THAN

  	
   

  	
   

  	
   

  
	
  THROUGH OPERATION OF THE
  SINKING

  	
   

  	
  THROUGH OPERATION OF THE

  	
   

  	
   

  	
   

  
	
  FUND

  	
   

  	
  SINKING FUND

  	
   

  	
  YEAR

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

and
thereafter at a Redemption Price equal to
          % of the principal
amount, together in the case of any such redemption (whether through operation
of the sinking fund or otherwise) with accrued and unpaid interest to the
Redemption Date, but interest installments whose Stated Maturity is on or prior
to such Redemption Date will be payable to the Holders of such Securities, or
one or more Predecessor Securities, of record at the close of business on the
relevant Record Dates referred to on the face hereof, all as provided in the
Indenture.]

 

[Notwithstanding
the foregoing, the Company may not, prior to
                    ,
redeem any Securities of this series as contemplated by [clause (2) of]
the preceding paragraph as a part of, or in anticipation of, any refunding
operation by the application, directly or indirectly, of moneys borrowed having
an interest cost to the Company (calculated in accordance with generally
accepted financial practice) of less than           %
per annum.]

 

[The
sinking fund for this series provides for the redemption on
                          
in each year beginning with the year                  and
ending with the year of [not less than]
$                              
[(“MANDATORY SINKING FUND”) and not more than $                        ]
aggregate principal amount of Securities of this series.] [Securities of this
series acquired or redeemed by the Company otherwise than through [mandatory]
sinking fund payments may be credited against subsequent [mandatory] sinking
fund payments otherwise required to be made—in the inverse order in which they
become due.]

 

[In
the event of redemption of this Security in part only, a new Security or
Securities of this series for the unredeemed portion hereof will be issued in
the name of the Holder hereof upon the cancellation hereof.]

 

9

 

[If
the Security is not an Original Issue Discount Security, insert— If any Event
of Default with respect to Securities of this series shall occur and be
continuing, the principal of the Securities of this series may be declared due
and payable in the manner and with the effect provided in the Indenture.]

 

[If
the Security is an Original Issue Discount Security, insert— If an Event of
Default with respect to Securities of this series shall occur and be
continuing, an amount of principal of the Securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture. Such amount shall be equal —insert formula for determining the
amount. Upon payment (i) of the amount of principal so declared due and
payable and (ii) of interest on any overdue principal and overdue interest
(in each case to the extent that the payment of such interest shall be legally
enforceable), all of the Company’s obligations in respect of the payment of the
principal of and interest, if any, on the Securities of this series shall
terminate.]

 

[This
Security is subject to defeasance and covenant defeasance as described in the
Indenture [if applicable, insert — and the supplemental indenture].]

 

[This
Security is subject to satisfaction and discharge as provided in the Indenture
[if applicable, insert — and the supplemental indenture].]

 

The Indenture may be modified
by the Company and the Trustee without consent of any Holder with respect to
certain matters as described in the Indenture. In addition, the Indenture
permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Company and the rights of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders of a
majority in principal amount of the Securities at the time Outstanding of each
series to be affected. The Indenture also contains provisions permitting the
Holders of a majority in principal amount of the Securities of each series at
the time Outstanding, on behalf of the Holders of all Securities of such
series, to waive compliance by the Company with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holder of this Security shall bind such
Holder and all future Holders of this Security and of any Security issued upon
the registration of transfer hereof or in exchange hereof or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

 

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

 

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

 

The Securities of this series
are issuable only in registered form without coupons in denominations of
[$1,000] and any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series
of a different authorized denomination, as requested by the Holder surrendering
the same.

 

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

 

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

 

The Indenture imposes certain
limitations on the ability of the Company to, among other things, merge or
consolidate with any other Person or sell, assign, transfer or lease all or
substantially all of its properties or assets [If other covenants are
applicable pursuant to the provisions of Section 3.01, insert here]. All
such covenants and limitations are subject to a number of important
qualifications and exceptions. The Company must report periodically to the
Trustee on compliance with the covenants in the Indenture.

 

A director, officer, employee
or stockholder, as such, of the Company shall not have any liability for any
obligations of the Company under this Security or the Indenture or for any
claim based on, in respect of or by reason of, such obligations or their
creation. Each Holder, by accepting a Security, waives and releases all such
liability. The waiver and release are part of the consideration for the
issuance of this Security.

 

[If
applicable, insert — A director, officer, employee or stockholder, as such, of
any Guarantor shall not have any liability for any obligations of the Company
or such Guarantor under this Security or the Indenture [if applicable, insert —
or the supplemental indenture] or for any claim based on, in respect of or by
reason of, such obligations or their creation. Each Holder, by accepting a
Security, waives and releases all such liability. The waiver and release are
part of the consideration for the issuance of this Security.]

 

[If
applicable, insert — This Security will be entitled to the benefits of certain
Guarantees made for the benefit of the Holders. Reference is hereby made to the
Indenture and the supplemental indenture for a statement of the respective
rights, limitations of rights, duties and obligations thereunder of the
Guarantors, if any, the Trustee and the Holders.]

 

10

 

[If
applicable, insert— Pursuant to a recommendation promulgated by the Committee
on Uniform Security Identification Procedures (“CUSIP”), the Company has caused
CUSIP numbers to be printed on the Securities of this series as a convenience
to the Holders of the Securities of this series. No representation is made as
to the correctness or accuracy of such numbers as printed on the Securities of
this series and reliance may be placed only on the other identification numbers
printed hereon.]

 

All terms used in this
Security which are defined in the Indenture shall have the meanings assigned to
them in the Indenture.

 

ASSIGNMENT FORM

 

To
assign this Security, fill in the form below: (I) or (we) assign and
transfer this Security to

 

 

	
   

  	
   

  	
   

  
	
   

  	
  (Insert assignee’s social security or tax I.D. number)

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  (Print or type assignee’s name, address and zip code)

  	
   

  

 

and
irrevocably appoint
                                     
agent to transfer this Security on the books of the Company. The agent may
substitute another to act for him.

 

	
  Dated:

  	
                   

  	
   

  	
  Your
  Signature:

  	
   

  	
   

  
	
   

  	
  (Sign
  exactly as your name appears on

  	
   

  
	
   

  	
  the
  other side of this Security)

  
	
   

  	
   

  
	
   

  	
   

  
	
  Signature
  Guaranty:

  	
   

  	
   

  
	
   

  	
  [Signatures
  must be guaranteed by an “eligible guarantor institution” meeting the
  requirements of the Transfer Agent, which requirements will include
  membership or participation in the Medallion Stamp Program or such other
  “signature guarantee program” as may be determined by the Transfer Agent in
  addition to, or in substitution for, the Medallion Stamp Program, all in
  accordance with the Exchange Act.]

  	
   

  
	
   

  	
   

  	
   

  
	
  Social
  Security Number or

  	
   

  	
   

  
	
  Taxpayer
  Identification Number:

  	
   

  	
   

  

 

Section 2.04    Form of
Trustee’s Certificate of Authentication. The Trustee’s certificate of
authentication shall be in substantially the following form:

 

	
  Dated:

  	
   

  	
   

  

 

 

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

 

 

	
   

  	
   

  
	
   

  	
  As Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Authorized Signatory

  

 

11

 

Section 2.05    Securities in
Global Form. If Securities of or within a series are issuable in whole or in
part in global form, then any such Security of such series may provide that it
shall represent the aggregate or a specified amount of the Outstanding
Securities of such series from time to time endorsed thereon and may also
provide that the aggregate amount of Outstanding Securities of such series
represented thereby may from time to time be reduced or increased to reflect
exchanges. Any endorsement of a Security in global form to reflect the amount,
or any increase or decrease in the amount, or changes in the rights of Holders,
of Outstanding Securities represented thereby shall be made in such manner and
upon instructions given by such Person or Persons as shall be specified therein
or in the Company Order to be delivered to the Trustee pursuant to Section 3.03
or Section 3.04. Subject to the provisions of Section 3.03 and, if
applicable, Section 3.04, the Trustee shall deliver and redeliver any
Security in permanent global form in the manner and upon instructions given by
the Person or Persons specified therein or in the applicable Company Order. If
a Company Order pursuant to Section 3.03 or 3.04 has been, or
simultaneously is, delivered, any instructions by the Company with respect to
endorsement or delivery or redelivery of a Security in global form shall be in
writing but need not comply with Section 1.02 and need not be accompanied
by an Opinion of Counsel.

 

The provisions of the last
paragraph of Section 3.03 shall apply to any Security represented by a
Security in global form if such Security was never issued and sold by the
Company and the Company delivers to the Trustee the Security in global form
together with written instructions (which need not comply with Section 1.02
and need not be accompanied by an Opinion of Counsel) with regard to the
reduction in the principal amount of Securities represented thereby.

 

Notwithstanding the
provisions of Sections 2.01 and 3.07, unless otherwise specified as
contemplated by Section 3.01, payment of principal of and premium, if any,
and interest on any Security in permanent global form shall be made to the
Person or Persons specified therein.

 

Section 2.06    Form of
Legend for the Securities in Global Form. Any Security in global form
authenticated and delivered hereunder shall bear a legend in substantially the
following form, or in such other form as may be necessary or appropriate to
reflect the arrangements with or to comply with the requirements of any
Depositary:

 

“THIS SECURITY IS IN GLOBAL
FORM WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS AND
UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN CERTIFICATED FORM IN
THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, THIS SECURITY MAY NOT
BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE
DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER
NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.”

 

ARTICLE 3

 

THE
SECURITIES

 

Section 3.01    Amount
Unlimited; Issuable in Series. The aggregate principal amount of Securities
which may be authenticated and delivered under this Indenture is unlimited.

 

The Securities may be issued
from time to time in one or more series. Prior to the issuance of Securities of
any series, there shall be established in or pursuant to (i) a Board
Resolution, (ii) action taken pursuant to a Board Resolution and (subject
to Section 3.03) set forth, or determined in the manner provided, in an
Officers’ Certificate, or (iii) one or more indentures supplemental
hereto:

 

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

 

(2) the
purchase price, denomination and any limit upon the aggregate principal amount
of the Securities of the series which may be authenticated and delivered under
this Indenture (except for Securities authenticated and delivered upon
registration of transfer of, or in exchange for, or in lieu of, other
Securities of the series pursuant to Sections 3.04, 3.05, 3.06, 9.06 or 11.07);

 

(3) the
date or dates on which the principal of and premium, if any, on the Securities
of the series is payable or the method of determination thereof;

 

(4) the
rate or rates at which the Securities of the series shall bear interest, if
any, or the method of calculating such rate or rates of interest, the date or
dates from which such interest shall accrue or the method by which such date or
dates shall be determined, the Interest Payment Dates on which any such
interest shall be payable and the Regular Record Date, if any, for the interest
payable on any Interest Payment Date;

 

(5) the
place or places where the principal of, premium, if any, and interest, if any,
on Securities of the series shall be payable;

 

(6) the
place or places where the Securities may be exchanged or transferred;

 

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

 

12

 

and,
if other than as provided in Section 11.03, the manner in which the
particular Securities of such series (if less than all Securities of such
series are to be redeemed) are to be selected for redemption;

 

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

 

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

 

(10) if
other than U.S. dollars, the currency or currencies (including currency unit or
units) in which payments of principal of, premium, if any, and interest on the
Securities of the series shall or may by payable, or in which the Securities of
the series shall be denominated, and the particular provisions applicable
thereto;

 

(11)
if the payments of principal of, premium, if any, or interest on the Securities
of the series are to be made, at the election of the Company or a Holder, in a
currency or currencies (including currency unit or units) other than that in
which such Securities are denominated or designated to be payable, the currency
or currencies (including currency unit or units) in which such payments are to
be made, the terms and conditions of such payments and the manner in which the
exchange rate with respect to such payments shall be determined, and the
particular provisions applicable thereto;

 

(12)
if the amount of payments of principal of, premium, if any, and interest on the
Securities of the series shall be determined with reference to an index,
formula or other method (which index, formula or method may be based, without
limitation, on a currency or currencies (including currency unit or units)
other than that in which the Securities of the series are denominated or
designated to be payable), the index, formula or other method by which such
amounts shall be determined;

 

(13)
if other than the principal amount thereof, the portion of the principal amount
of Securities of the series which shall be payable upon declaration of
acceleration of the Maturity thereof pursuant to Section 5.02 or the
method by which such portion shall be determined;

 

(14)
any modifications of or additions to the Events of Default or the covenants of
the Company set forth herein with respect to Securities of the series; and
whether and the conditions under which the Holders of the Securities of the
series may waive any such Event of Default or compliance with any such covenant
relating to the Securities of such series;

 

(15)
if either or both of Section 13.02 and Section 13.03 shall be
inapplicable, in whole or in part, to the Securities of the series (provided
that if no such inapplicability shall be specified, then both Section 13.02
and Section 13.03 shall be applicable to the Securities of the series);
and any modification to either such section as it relates to such series of
Securities;

 

(16)
if other than the Trustee, the identity of the Registrar and any Paying Agent;

 

(17)
if the Securities of the series shall be issued in whole or in part in global
form, (i) the Depositary for such global Securities, (ii) the form of
any legend in addition to or in lieu of that in Section 2.06 which shall
be borne by such global Security, (iii) whether beneficial owners of
interests in any Securities of the series in global form may exchange such
interests for certificated Securities of such series and of like tenor of any
authorized form and denomination, and (iv) if other than as provided in Section 3.05,
the circumstances under which any such exchange may occur;

 

(18)
if the Holders of the Securities of the series may convert or exchange the
Securities of the series into or for securities of the Company or of other
entities or other property (or the cash value thereof), the specific terms of
and period during which such conversion or exchange may be made;

 

(19)
if the Securities of the series shall have the benefits of any Guarantee and,
if so, the identity of the Guarantor or Guarantors and the terms and provisions
applicable to any such Guarantee;

 

(20)
any provisions for the satisfaction and discharge of the Securities of the
series, including provisions in addition to or modifying the provisions of Article 4
as they pertain to Securities of the series;

 

(21)
any addition to or change in the covenants set forth in Article 10 which
applies to Securities of the series; and

 

(22)
any other terms of the series, including any terms which may be required by or
advisable under the laws of the United States of America or regulations
thereunder or advisable (as determined by the Company) in connection with the
marketing of Securities of the series.

 

All Securities of any one
series shall be substantially identical except as to denomination and except as
may otherwise be provided (i) by a Board Resolution, (ii) by action
taken pursuant to a Board Resolution and (subject to Section 3.03) set
forth, or determined in the manner provided, in an Officers’ Certificate or (iii) in
any such indenture supplemental hereto. All Securities of any one series need
not be issued at the same time and, unless otherwise provided, a series may be
reopened, without the consent of the Holders, for issuances of additional
Securities of such series.

 

13

 

If any of the terms of the
Securities of any series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified
by the Secretary or an Assistant Secretary of the Company and delivered to the
Trustee at or prior to the delivery of the Officers’ Certificate setting forth,
or providing the manner for determining, the terms of the Securities of such
series, and an appropriate record of any action taken pursuant thereto in
connection with the issuance of any Securities of such series shall be
delivered to the Trustee prior to the authentication and delivery thereof.

 

Section 3.02    Denominations.
The Securities of each series shall be issuable in registered form without coupons
in such denominations as shall be specified as contemplated by Section 3.01.
In the absence of any such provisions with respect to the Securities of any
series, the Securities of such series shall be issuable in denominations of
$1,000 and any integral multiple thereof.

 

Section 3.03    Execution,
Authentication, Delivery and Dating. The Securities shall be executed on behalf
of the Company by its Chairman of the Board, its Chief Executive Officer, its
President, its Chief Financial Officer, or its Chief Accounting Officer
attested by its Secretary or one of its Assistant Secretaries. The signature of
any of these officers on the Securities may be manual or facsimile.
Typographical and other minor errors or defects in any such reproduction of the
seal or any such signature shall not affect the validity or enforceability of
any Security that has been duly authenticated and delivered by the Trustee.

 

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

 

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 Company Order for the authentication and
delivery of such Securities, and the Trustee in accordance with the Company
Order shall authenticate and make such Securities available for delivery. If
the form or terms of the Securities of the series have been established in or
pursuant to one or more Board Resolutions as permitted by Sections 2.01 and
3.01, in authenticating such Securities, and accepting the additional
responsibilities under this Indenture in relation to such Securities, the
Trustee shall be entitled to receive, and (subject to Sections 315(a) through
(d) of the Trust Indenture Act) shall be fully protected in relying upon,
an Opinion of Counsel stating (subject to customary assumptions, conditions and
exceptions):

 

(a) if the terms of such
Securities have been established by or pursuant to Board Resolution as
permitted by Section 3.01, that such terms have been established in
conformity with the provisions of this Indenture; and

 

(b) that such
Securities, when authenticated and delivered by the Trustee and issued by the
Company in the manner and subject to any conditions specified in such Opinion
of Counsel, will constitute valid and legally binding obligations of the
Company, enforceable in accordance with their terms, except to the extent
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance and other similar laws
affecting the enforcement of creditors’ rights generally and by the effect of
general principles of equity (regardless of whether enforceability is
considered in a proceeding in equity or at law).

 

If such terms have been so
established, the Trustee shall not be required to authenticate such Securities
if the issue of such Securities pursuant to this Indenture will affect the
Trustee’s own rights, duties or immunities under the Securities and this
Indenture or otherwise in a manner which is not reasonably acceptable to the
Trustee, or in the written opinion of counsel to the Trustee (which counsel may
be an employee of the Trustee) such authentication may not lawfully be made or
would involve the Trustee in personal liability.

 

Notwithstanding the
provisions of Section 3.01 and of the immediately preceding paragraph, if
all Securities of a series are not to be originally issued at one time, it
shall not be necessary to deliver the Board Resolution and the Officers’
Certificate otherwise required pursuant to Section 3.01 or the Company
Order and Opinion of Counsel otherwise required pursuant to the second
preceding paragraph at or prior to the time of authentication of each Security of
such series if such documents are delivered at or prior to the authentication
upon original issuance of the first Security of such series to be issued.

 

If the Company shall
establish pursuant to Section 3.01 that the Securities of a series are to
be issued in whole or in part in the form of one or more global Securities,
then the Company shall execute and the Trustee shall, in accordance with this Section and
the Company Order with respect to the authentication and delivery of such
series, authenticate and deliver one or more Securities of such series in
global form that (i) shall be in an aggregate amount equal to the
aggregate principal amount of the Outstanding Securities of such series to be
represented by such Security or Securities in global form, (ii) shall be
registered in the name of the Depositary for such Security or Securities in
global form or its nominee, and (iii) shall be made available for delivery
by the Trustee to such Depositary or pursuant to such Depositary’s instruction.

 

The Trustee shall have no
responsibility to determine if the Depositary is so registered. Each Depositary
shall enter into an agreement with the Trustee and the Company governing the
respective duties and rights of such Depositary, the Company and the Trustee
with regard to Securities issued in global form.

 

Unless otherwise provided for
in the form of Security, each Security shall be dated the date of its
authentication.

 

No Security shall be entitled
to any benefits under this Indenture or be valid or obligatory for any purpose
unless there appears on such Security a certificate of authentication
substantially in the form provided for herein executed by the Trustee or an
Authenticating Agent by manual signature, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such
Security has been duly authenticated and delivered hereunder and is entitled to
the benefits of this Indenture.

 

14

 

Notwithstanding the
foregoing, if any Security shall have been authenticated and delivered
hereunder but never issued and sold by the Company, and the Company shall
deliver such Security to the Trustee for cancellation as provided in Section 3.09
together with a written statement (which need not comply with Section 1.02
and need not be accompanied by an Opinion of Counsel) stating that such
Security has never been issued and sold by the Company, for all purposes of
this Indenture such Security shall be deemed never to have been authenticated
and delivered hereunder and shall not be entitled to the benefits of this
Indenture.

 

Section 3.04    Temporary
Securities. Pending the preparation of definitive Securities of any series, the
Company may execute, and upon Company Order the Trustee shall authenticate and
make available for delivery, temporary Securities of such series which are
printed, lithographed, typewritten, mimeographed or otherwise produced, in any
authorized denomination, substantially of the tenor of the definitive
Securities in lieu of which they are issued and with such appropriate
insertions, omissions, substitutions and other variations as the officers
executing such Securities may determine, as evidenced by their execution of
such Securities.

 

In the case of Securities of
any series, such temporary Securities may be in global form, representing all
or a portion of the Outstanding Securities of such series.

 

Except in the case of
temporary Securities in global form (which shall be exchanged in accordance
with the provisions thereof), if temporary Securities of any series are issued,
the Company will cause definitive Securities of that series to be prepared
without unreasonable delay. After the preparation of definitive Securities of
such series, the temporary Securities of such series shall be exchangeable for
definitive Securities of such series upon surrender of the temporary Securities
of such series at the office or agency of the Company in a Place of Payment for
that series, without charge to the Holder. Upon surrender for cancellation of
any one or more temporary Securities of any series, the Company shall execute
and the Trustee shall authenticate and make available for delivery in exchange
therefor a like principal amount of definitive Securities of the same series of
authorized denominations and of like tenor. Until so exchanged, the temporary
Securities of any series shall in all respects be entitled to the same benefits
under this Indenture as definitive Securities of such series.

 

Section 3.05    Registration,
Registration of Transfer and Exchange. The Company shall cause to be kept at
the Corporate Trust Office of the Trustee or in any office or agency to be
maintained by the Company in accordance with Section 10.02 in a Place of
Payment a register (the register maintained in such office and in any other
office or agency of the Company in a Place of Payment being herein sometimes
collectively referred to as the “SECURITY REGISTER”) in which, subject to such
reasonable regulations as it may prescribe, the Company shall provide for the
registration of Securities and of registration of transfers of Securities. The
Trustee is hereby appointed “SECURITY REGISTRAR” for the purpose of registering
Securities and transfers of Securities as herein provided.

 

Upon surrender for
registration of transfer of any Security of any series at the office or agency
of the Company in a Place of Payment for that series, the Company shall
execute, and the Trustee shall authenticate and make available for delivery, in
the name of the designated transferee or transferees, one or more new
Securities of the same series, of any authorized denominations and of a like
aggregate principal amount and Stated Maturity.

 

At the option of the Holder,
Securities of any series (except a Security in global form) may be exchanged
for other Securities of the same series, of any authorized denominations and of
a like aggregate principal amount and Stated Maturity, upon surrender of the
Securities to be exchanged at such office or agency. Whenever any Securities
are so surrendered for exchange, the Company shall execute, and the Trustee
shall authenticate and make available for delivery, the Securities which the
Holder making the exchange is entitled to receive.

 

Each Security issued in
global form authenticated under this Indenture shall be registered in the name
of the Depositary designated for such series or a nominee thereof and delivered
to such Depositary or a nominee thereof or custodian therefor, and each such
Security issued in global form shall constitute a single Security for all
purposes of this Indenture.

 

Notwithstanding any other
provision of this Section, unless and until it is exchanged in whole or in part
for Securities in certificated form in the circumstances described below, a
Security in global form representing all or a portion of the Securities of a
series may not be transferred except as a whole by the Depositary for such
series to a nominee of such Depositary or by a nominee of such Depositary to
such Depositary or another nominee of such Depositary or by such Depositary or
any such nominee to a successor Depositary for such series or a nominee of such
successor Depositary.

 

If at any time the Depositary
for the Securities of a series notifies the Company that it is unwilling or
unable to continue as Depositary for the Securities of such series or defaults
in the performance of its duties as Depositary or it at any time the Depositary
for the Securities of such series shall no longer be eligible to perform such
duties, the Company shall appoint a successor Depositary with respect to the
Securities of such series. If a successor Depositary for the Securities of such
series is not appointed by the Company within 90 days after the Company
receives such notice or becomes aware of such ineligibility, the Company’s
selection pursuant to Section 3.01(17) shall no longer be effective with
respect to the Securities of such series and the Company shall execute, and the
Trustee, upon receipt of a Company Order for the authentication and delivery of
certificated Securities of such series of like tenor, shall authenticate and
deliver Securities of such series of like tenor in certificated form, in
authorized denominations and in an aggregate principal amount equal to the
principal amount of the Security or Securities of such series of like tenor in
global form in exchange for such Security or Securities in global form.

 

The Company may at any time
in its sole discretion determine that Securities issued in global form shall no
longer be represented by such a Security or Securities in global form. In such
event the Company shall execute, and the Trustee, upon receipt of a Company
Order for the authentication and delivery of certificated Securities of such
series of like tenor, shall authenticate and deliver, Securities of such series
of like tenor in certificated form, in authorized denominations and in an
aggregate principal amount equal to the principal amount of the Security or
Securities of such series of like tenor in global form in exchange for such
Security or Securities in global form.

 

15

 

If specified by the Company
pursuant to Section 3.01 with respect to a series of Securities, the
Depositary for such series may surrender a Security in global form of such
series in exchange in whole or in part for Securities of such series in
certificated form on such terms as are acceptable to the Company and such
Depositary. Thereupon, the Company shall execute, and the Trustee shall
authenticate and deliver, without service charge,

 

(i) to each Person
specified by such Depositary a new certified Security or Securities of the same
series of like tenor, of any authorized denomination as requested by such
Person in aggregate principal amount equal to and in exchange for such Person’s
beneficial interest in the Security in global form; and

 

(ii) to such Depositary
a new Security in global form of like tenor in a denomination equal to the
difference, if any, between the principal amount of the surrendered Security in
global form and the aggregate principal amount of certificated Securities
delivered to Holders thereof.

 

Upon the exchange of a
Security in global form for Securities in certificated form, such Security in
global form shall be canceled by the Trustee. Securities issued in exchange for
a Security in global form pursuant to this Section shall be registered in
such names and in such authorized denominations as the Depositary for such
Security in global form, pursuant to instructions from its direct or indirect
participants or otherwise, shall instruct the Trustee. The Trustee shall
deliver such Securities to the Persons in whose names such Securities are so
registered.

 

Whenever any Securities are
surrendered for exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Securities which the Holder making the exchange
is entitled to receive.

 

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

 

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

 

Unless otherwise provided in
the Securities to be transferred or exchanged, no service charge shall be made
for any registration of transfer or exchange of Securities, but the Company may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or
exchange of Securities, other than exchanges pursuant to Section 3.04,
9.06 or 11.07 not involving any transfer.

 

If the Securities of any
series (or of any series and specified tenor) are to be redeemed in part, the
Company shall not be required (i) to issue, register the transfer of or
exchange Securities of such series during a period beginning at the opening of
business 15 days before the day of the mailing of a notice of redemption of
Securities of that series selected for redemption under Section 11.03 and
ending at the close of business on the day of such mailing, or (ii) to
register the transfer of or exchange any Security so selected for redemption,
in whole or in part, except the unredeemed portion of any Security being
redeemed in part.

 

The foregoing provisions
relating to registration, transfer and exchange may be modified, supplemented
or superseded with respect to any series of Securities by a Board Resolution or
in one or more indentures supplemental hereto.

 

Section 3.06    Mutilated,
Destroyed, Lost and Stolen Securities. If any mutilated Security is surrendered
to the Trustee, the Company shall execute and the Trustee shall authenticate
and deliver in exchange therefor a new Security of the same series and of like
tenor and principal amount and bearing a number not contemporaneously
outstanding.

 

If there shall be delivered
to the Company and the Trustee (i) evidence to their satisfaction of the
destruction, loss or theft of any Security and (ii) such security or
indemnity as may be required by them to save each of them and any agent of
either of them harmless, then, in the absence of notice to the Company or the
Trustee that such Security has been acquired by a bona fide purchaser, the
Company shall execute and upon its request the Trustee shall authenticate and
deliver, in lieu of any such destroyed, lost or stolen Security, a new Security
of the same series and of like tenor and principal amount and bearing a number
not contemporaneously outstanding.

 

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

 

Upon the issuance of any new
Security under this Section, the Company may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the
Trustee) connected therewith.

 

Every new Security of any
series issued pursuant to this Section in lieu of any destroyed, lost or
stolen Security shall constitute an original additional contractual obligation
of the Company, whether or not the destroyed, lost or stolen Security shall be
at any time enforceable by anyone, and shall be entitled to all the benefits of
this Indenture equally and proportionately with any and all other Securities of
that series duly issued hereunder.

 

The provisions of this Section are
exclusive and shall preclude (to the extent lawful) all other rights and
remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities.

 

16

 

 

Section 3.07    Payment of
Interest; Interest Rights Preserved. Interest on any Security which is payable,
and is punctually paid or duly provided for, on any Interest Payment Date shall
be paid to the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest.

 

Any interest on any Security
of any series which is payable, but is not punctually paid or duly provided
for, on any Interest Payment Date (herein called “DEFAULTED INTEREST”) shall
forthwith cease to be payable to the Holder on the relevant Regular Record Date
by virtue of having been such Holder, and such Defaulted Interest may be paid
by the Company, at its election in each case, as provided in Clause (1) or
(2) below:

 

(1) The
Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on a Special Record Date
for the payment of such Defaulted Interest, which shall be fixed in the
following manner. The Company shall notify the Trustee in writing of the amount
of Defaulted Interest proposed to be paid on each Security of such series and
the date of the proposed payment (which shall be not less than 25 days after
the receipt by the Trustee of such notice, unless such Trustee shall consent to
an earlier date), and at the same time the Company shall deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or shall make arrangements reasonably
satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this Clause provided.
Thereupon the Trustee shall fix a Special Record Date for the payment of such
Defaulted Interest which shall be not more than 15 days and not less than 10
days prior to the date of the proposed payment and not less than 10 days after
the receipt by the Trustee of the notice of the proposed payment. The Trustee
shall promptly notify the Company of such Special Record Date and, in the name
and at the reasonable expense of the Company, shall cause notice of the
proposed payment of such Defaulted Interest and the Special Record Date
therefor to be mailed, first-class postage prepaid, to each Holder of
Securities of such series at his address as it appears in the Security
Register, not less than 10 days prior to such Special Record Date. Notice of
the proposed payment of such Defaulted Interest and the Special Record Date
therefor having been so mailed, such Defaulted Interest shall be paid to the
Persons in whose names the Securities of such series (or their respective
Predecessor Securities) are registered at the close of business on such Special
Record Date and shall no longer be payable pursuant to the following Clause
(2).

 

(2) The
Company may make payment of any Defaulted Interest on the Securities of any
series in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities may be listed, and upon such
notice as may be required by such exchange, if, after notice given by the Company
to the Trustee of the proposed payment pursuant to this Clause (2), such manner
of payment shall be deemed practicable by the Trustee.

 

Subject to the foregoing
provisions of this Section, each Security delivered under this Indenture upon
registration of transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest accrued and unpaid, and to accrue, which
were carried by such other Security.

 

Section 3.08    Persons Deemed
Owners. Prior to due presentment of a Security for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name such Security is registered as the owner of such
Security for the purpose of receiving payment of principal of, premium, if any,
and (subject to Sections 3.05 and 3.07) interest on such Security and for all
other purposes whatsoever, whether or not such Security be overdue, and neither
the Company, the Trustee nor any agent of the Company or the Trustee shall be
affected by notice to the contrary.

 

None of the Company, the
Trustee or any agent of the Company or the Trustee shall have any
responsibility or liability for any aspect of the records relating to or
payments made on account of beneficial ownership interest of a Security in
global form, or for maintaining, supervising or reviewing any records relating
to such beneficial ownership interest. Notwithstanding the foregoing, with
respect to any Security in global form, nothing herein shall prevent the
Company or the Trustee or any agent of the Company or the Trustee, from giving
effect to any written certification, proxy or other authorization furnished by
any Depositary (or its nominee), as a Holder, with respect to such Security in
global form or impair, as between such Depositary and owners of beneficial
interests in such Security in global form, the operation of customary practices
governing the exercise of the right of such Depositary (or its nominee) as
holder of such Security in global form.

 

Section 3.09    Cancellation. All
Securities surrendered for payment, redemption, registration of transfer or
exchange or for credit against any sinking fund payment shall, if surrendered
to any Person other than the Trustee, be delivered to the Trustee and shall be
promptly canceled by it. The Company may at any time deliver to the Trustee for
cancellation any Securities previously authenticated and delivered hereunder
which the Company may have acquired in any manner whatsoever, and all
Securities so delivered shall be promptly canceled by the Trustee. No
Securities shall be authenticated in lieu of or in exchange for any Securities
canceled as provided in this Section, except as expressly permitted by this
Indenture. All canceled Securities shall be held by the Trustee and may be destroyed
(and, if so destroyed, certification of their destruction shall be delivered to
the Company, unless, by a Company Order, the Company shall direct that canceled
Securities be returned to it).

 

Section 3.10    Computation of
Interest. Except as otherwise specified as contemplated by Section 3.01
for Securities of any series, interest on the Securities of each series shall
be computed on the basis of a year of twelve 30-day months.

 

Section 3.11    CUSIP Number.
The Company in issuing Securities of any series may use a “CUSIP” number, and
if so, the Trustee may use the CUSIP number in notices of redemption or
exchange as a convenience to Holders of such series; provided, that any such
notice may state that no representation is made as to the correctness or accuracy
of the CUSIP number printed on the notice or on the Securities of such series,
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. The Company will promptly notify the
Trustee of any change in the CUSIP number of any series of Securities.

 

17

 

Section 3.12    Wire
Transfers. Notwithstanding any other provision to the contrary in this
Indenture, the Company may make any payment of moneys required to be deposited
with the Trustee on account of principal of, or premium, if any, or interest on
the Securities (whether pursuant to optional or mandatory redemption payments, interest
payments or otherwise) by wire transfer of immediately available funds to an
account designated by the Trustee on or before the date and time such moneys
are to be paid to the Holders of the Securities in accordance with the terms
hereof.

 

ARTICLE 4

SATISFACTION AND DISCHARGE

 

Section 4.01    Satisfaction
and Discharge of Indenture. This Indenture shall cease to be of further effect
(except as to any surviving rights of registration of transfer or exchange of
Securities and replacement of such Securities which may have been lost, stolen
or mutilated as herein expressly provided for or in the form of Security for
such series), when the Trustee, upon Company Request and at the expense of the
Company, shall execute proper instruments acknowledging satisfaction and
discharge of this Indenture, when

 

(1) either
(a) all Securities theretofore authenticated and delivered (other than (i) Securities
which have been destroyed, lost or stolen and which have been replaced or paid
as provided in Section 3.06 and (ii) Securities for whose payment
money has theretofore been deposited in trust or segregated and held in trust
by the Company and thereafter repaid to the Company or discharged from such
trust, as provided in Section 10.05) have been delivered to the Trustee
for cancellation; or (b) all such Securities not theretofore delivered to
the Trustee for cancellation (i) have become due and payable, or (ii) will
become due and payable at their Stated Maturity within one year, or (iii) are
to be called for redemption within one year under arrangements reasonably
satisfactory to the Trustee for the giving of notice of redemption by the
Trustee in the name, and at the reasonable expense, of the Company, and the
Company, in the case of (b)(i), (ii) or (iii) above, has deposited
with the Trustee as trust funds in trust for the purpose an amount, in the
currency or currencies or currency unit or units in which the Securities of
such series are payable, sufficient to pay and discharge the entire
indebtedness on such Securities not theretofore delivered to the Trustee for
cancellation, for principal, premium, if any, and interest to the date of such
deposit (in the case of Securities which have become due and payable) or the
Stated Maturity or Redemption Date, as the case may be;

 

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

 

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

 

Notwithstanding the
satisfaction and discharge of this Indenture, the obligations of the Company to
the Trustee under Section 6.07, the obligations of the Company to any
Authenticating Agent under Section 6.14 and, if money shall have been
deposited with the Trustee pursuant to subclause (b) of clause (1) of
this Section, the obligations of the Trustee under Section 4.02 and the
last paragraph of Section 10.05 shall survive.

 

Section 4.02    Application of
Trust Money. Subject to the provisions of the last paragraph of Section 10.05,
all money deposited with the Trustee pursuant to Section 4.01 shall be
held in trust and applied by it, in accordance with the provisions of the
Securities and this Indenture, to the payment, either directly or through any
Paying Agent (including the Company acting as its own Paying Agent) as the
Trustee may determine, to the Persons entitled thereto, of the principal (and
premium, if any) and interest for whose payment such money has been deposited
with or received by the Trustee, but such money need not be segregated from
other funds except to the extent required by law.

 

Section 4.03    Application to
a Specific Series of Securities. The Company may elect to satisfy and
discharge its obligations with respect to a specific series of Securities under
the Indenture by complying with the terms of Article 4. If the Company
makes such election, (a) the terms of Section 4.01 and 4.02 shall
apply only to the specific series of Securities and the terms of the Indenture
as it relates to such series of Securities and (b) the other Securities
issued hereunder and the Indenture as it relates to such other Securities shall
remain in full force and effect.

 

ARTICLE 5

REMEDIES

 

Section 5.01    Events of
Default. Except as otherwise specified as contemplated by Section 3.01 for
Securities of a series, “EVENT OF DEFAULT,” wherever used herein with respect
to Securities of any series, means any one of the following events (whatever
the reason for such Event of Default and whether it shall be voluntary or
involuntary or to be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

 

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

 

(2) the
Company defaults in the payment of the principal of, or premium, if any, on any
Security of that series when the same becomes due and payable at Maturity or on
redemption or otherwise; or

 

(3) the
Company fails to deposit any sinking fund payment, for five days after it
becomes due by the terms of a Security of that series; or

 

18

 

(4) the
Company fails to observe or perform in any material respect any of its other
covenants, agreements or warranties in the Securities of that series or this
Indenture (other than a covenant, agreement or warranty a default in whose
performance or whose breach is elsewhere in this Section specifically
dealt with or which has expressly been included in this Indenture solely for
the benefit of series of Securities other than that series), and the failure to
observe or perform continues for the period and after the notice specified in
the last paragraph of this Section; or

 

(5) an
event of default, as defined in any mortgage, indenture, or instrument under
which there may be issued, or by which there may be secured or evidenced, any
Indebtedness of the Company (including Securities of another series) (other
than the Securities of such series) (whether such Indebtedness now exists or
shall hereafter be created or incurred) shall occur, which event of default (i) is
caused by a failure to pay principal of or premium, if any, or interest on such
Indebtedness at final maturity after the expiration of the grace period
provided in such Indebtedness on the date of such event of default, and (ii) results
in Indebtedness becoming or being declared due and payable prior to the date on
which it would otherwise become due and payable, and such default in payment is
not cured or such acceleration shall not be rescinded or annulled within 30
days after written notice to the Company from the Trustee or to the Company and
to the Trustee from the Holders of at least twenty-five percent in aggregate
principal amount of the Outstanding Securities of that series specifying such
event of default and requiring the Company to cure such default in payment or
cause such acceleration to be rescinded or annulled and stating that such
notice is a “NOTICE OF DEFAULT” hereunder; provided, however, that it shall not
be an Event of Default if the principal amount of Indebtedness which is not
paid at maturity or the maturity of which is accelerated is equal to or less
than $50,000,000; provided further that if, prior to a declaration of
acceleration of the maturity of the Securities of that series or the entry of
judgment in favor of the Trustee in a suit pursuant to Section 5.03, such
default shall be remedied or cured by the Company or waived by the holders of
such Indebtedness, then the Event of Default hereunder by reason thereof shall
be deemed likewise to have been thereupon remedied, cured or waived without
further action upon the part of either the Trustee or any of the Holders of the
Securities of that series; or

 

(6) the
Company or any of its Significant Subsidiaries pursuant to or within the
meaning of any Bankruptcy Law (a) commences a voluntary case or proceeding
under any Bankruptcy Law with respect to itself, (b) consents to the entry
of a judgment, decree or order for relief against it in an involuntary case or
proceeding under any Bankruptcy Law, (c) consents to or acquiesces in the
institution of bankruptcy or insolvency proceedings against it, (d) applies
for, consents to or acquiesces in the appointment of or taking possession by a
Custodian of it or for all or substantially all of its property, (e) makes
a general assignment for the benefit of its creditors or (f) takes any
corporate action in furtherance of or to facilitate, conditionally or
otherwise, any of the foregoing; or

 

(7) (i) a
court of competent jurisdiction enters a judgment, decree or order for relief
in an involuntary case or proceeding under any Bankruptcy Law which shall (a) approve
as properly filed a petition seeking reorganization, arrangement, adjustment or
composition in respect of the Company or any of its Significant Subsidiaries, (b) appoint
a Custodian of the Company or any of its Significant Subsidiaries or for all or
substantially all of its property or (c) order the winding-up or
liquidation of affairs of the Company or any of its Significant Subsidiaries,
and such judgment, decree or order shall remain unstayed and in effect for a
period of 90 consecutive days; or (ii) any bankruptcy or insolvency
petition or application is filed, or any bankruptcy or insolvency proceeding is
commenced, against the Company or any of its Significant Subsidiaries and such
petition, application or proceeding is not dismissed within 60 days; or (iii) a
warrant of attachment is issued against any material portion of the property of
the Company or any of its Significant Subsidiaries which is not released within
60 days of service; or

 

(8) any
other Event of Default provided with respect to Securities of that series.

 

A Default under clause (4) above
is not an Event of Default until the Trustee or the Holders of at least
twenty-five percent in aggregate principal amount of the Outstanding Securities
of that series notify the Company of the Default and the Company does not cure
the Default within 60 days after receipt of the notice. The notice must specify
the Default, demand that it be remedied and state that the notice is a “NOTICE
OF DEFAULT.” When a Default under clause (4) above is cured within such
60-day period, it ceases to be a Default.

 

Section 5.02    Acceleration
of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities
of any series (other than an Event of Default specified in clause (6) or (7) of
Section 5.01) occurs and is continuing, the Trustee by notice in writing
to the Company, or the Holders of at least twenty-five percent in aggregate
principal amount of the Outstanding Securities of that series by notice in
writing to the Company and the Trustee, may declare the unpaid principal of and
accrued interest to the date of acceleration (or, if the Securities of that
series are Original Issue Discount Securities, such portion of the principal
amount as may be specified in the terms of that series) on all the Outstanding
Securities of that series to be due and payable immediately and, upon any such
declaration, the Outstanding Securities of that series (or specified principal
amount) shall become and be immediately due and payable.

 

If an Event of Default
specified in clause (6) or (7) of Section 5.01 occurs, all
unpaid principal of and accrued interest on the Outstanding Securities of that
series (or specified principal amount) shall ipso facto become and be
immediately due and payable without any declaration or other act on the part of
the Trustee or any Holder of any Security of that series.

 

Upon payment of all such
principal and interest, all of the Company’s obligations under the Securities
of that series and (upon payment of the Securities of all series) this
Indenture shall terminate, except obligations under Section 6.07.

 

At any time after a
declaration of acceleration of Maturity with respect to Securities of any
series has been made and before a judgment or decree for payment of the money
due has been obtained by the Trustee as hereinafter in this Article provided,
the Holders of a majority in principal amount of the Outstanding Securities of
that series by notice to the Trustee may rescind an acceleration and its
consequences if (i) all existing Events of Default, other than the
nonpayment of the principal of and interest on the Securities of that series
that has become due solely by such declaration of acceleration, have been cured
or waived, (ii) to the extent the payment of such interest is lawful,
interest on overdue installments of interest and overdue principal that has
become due otherwise than by such declaration of acceleration have been paid, (iii) the
rescission would not conflict with 

 

19

 

any
judgment or decree of a court of competent jurisdiction and (iv) all
payments due to the Trustee and any predecessor Trustee under Section 6.07
have been made.

 

Section 5.03    Collection of
Indebtedness and Suits for Enforcement by Trustee. The Company covenants that
if:

 

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

 

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

 

(3) default
is made in the payment of any sinking or analogous obligation when the same
becomes due by the terms of the Securities of any series, and any such default
continues for any period of grace provided with respect to the Securities of
such series,

 

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

 

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

 

If an Event of Default with
respect to Securities of any series occurs and is continuing, the Trustee may
in its discretion proceed to protect and enforce its rights and the rights of
the Holders of Securities of such series by such appropriate judicial
proceedings as the Trustee shall deem most effectual to protect and enforce any
such rights, whether for the specific enforcement of any covenant or agreement
in this Indenture or in aid of the exercise of any power granted herein, or to
secure any other proper remedy.

 

Section 5.04    Trustee May File
Proofs of Claim. In case of the pendency of any receivership, insolvency,
liquidation, bankruptcy, reorganization, arrangement, adjustment, composition
or other judicial proceeding relative to the Company or any other obligor upon
the Securities or the property of the Company or of such other obligor or their
creditors, the Trustee (irrespective of whether the principal of the Securities
shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand on
the Company for the payment of overdue principal or interest) shall be entitled
and empowered, by intervention in such proceeding or otherwise,

 

(i) to file and prove a
claim for the whole amount of principal (and premium, if any) and interest
owing and unpaid in respect of the Securities and to file such other papers or
documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agent and counsel) and of the
Holders allowed in such judicial proceedings, and

 

(ii) to collect and
receive any moneys or other property payable or deliverable on any such claims
and to distribute the same; and any custodian, receiver, assignee, trustee,
liquidator, sequestrator or other similar official in any such judicial
proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due it for the
reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel, and any other amounts due the Trustee under Section 6.07.

 

Nothing herein contained
shall be deemed to authorize the Trustee to authorize or consent to or accept
or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder
thereof or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding.

 

Section 5.05    Trustee May Enforce
Claims Without Possession of Securities. All rights of action and claims under
this Indenture or the Securities may be prosecuted and enforced by the Trustee
without the possession of any of the Securities or the production thereof in
any proceeding relating thereto, and any such proceeding instituted by the
Trustee shall be brought in its own name as trustee of an express trust, and
any recovery of judgment shall, after provision for the payment of the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, be for the ratable benefit of the Holders of the Securities in
respect of which such judgment has been recovered.

 

Section 5.06    Application of
Money Collected. Any money collected by the Trustee pursuant to this Article in
respect of the Securities of any series shall be applied in the following
order, at the date or dates fixed by the Trustee and, in case of the
distribution of such money on account of principal, premium, if any, or
interest, upon presentation of the Securities in respect of which moneys have
been collected and the notation thereon of the payment if only partially paid
and upon surrender thereof if fully paid:

 

First: To the payment of all
amounts due the Trustee under Section 6.07 applicable to such series;

 

20

 

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

 

Third: To the Company.

 

The Trustee may fix a record
date and payment date for any payment to Holders pursuant to this Section 5.06.
At least ten (10) days before such record date, the Trustee shall mail to
each Holder and the Company a notice that states the record date, the payment
date and the amount to be paid.

 

Section 5.07    Limitation on
Suits. No Holder of any Security of any series shall have any right to
institute any proceeding, judicial or otherwise, with respect to this Indenture,
or for the appointment of a receiver or trustee, or for any other remedy
hereunder, unless:

 

(1) such
Holder has previously given written notice to the Trustee of a continuing Event
of Default with respect to the Securities of that series;

 

(2) the
Holders of at least twenty-five percent in principal amount of the Outstanding
Securities of that series shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default in its own name as
Trustee hereunder;

 

(3) such
Holder or Holders shall have offered to the Trustee reasonable indemnity
against the costs, expenses and liabilities to be incurred in compliance with
such request;

 

(4) the
Trustee for 60 days after its receipt of such notice, request and offer of indemnity
has failed to institute any such proceeding; and

 

(5) no
direction inconsistent with such written request has been given to the Trustee
during such 60-day period by the Holders of a majority in principal amount of
the Outstanding Securities of that series;

 

it being understood and
intended that no one or more of Holders of Securities of any series shall have
any right in any manner whatever by virtue of, or by availing of, any provision
of this Indenture to affect, disturb or prejudice the rights of any other of
such Holders, or to obtain or to seek to obtain priority or preference over any
other of such Holders or to enforce any right under this Indenture, except in
the manner herein provided and for the equal and ratable benefit of all Holders
of Securities of the affected series.

 

Section 5.08    Unconditional
Right of Holders to Receive Principal, Premium and Interest. Notwithstanding
any other provision in this Indenture, the Holder of any Security shall have
the right, which is absolute and unconditional, to receive payment of the
principal of, premium, if any, and (subject to Section 3.07) interest on
such Security on the Stated Maturity or Maturities expressed in such Security
(or, in the case of redemption, on the Redemption Date) and to institute suit
for the enforcement of any such payment, and such rights shall not be impaired
without the consent of such Holder.

 

Section 5.09    Restoration of
Rights and Remedies. If the Trustee or any Holder has instituted any proceeding
to enforce any right or remedy under this Indenture and such proceeding has
been discontinued or abandoned for any reason, or has been determined adversely
to the Trustee or to such Holder, then and in every such case, subject to any
determination in such proceeding, the Company, the Trustee and the Holders
shall be restored severally and respectively to their former positions
hereunder and thereafter all rights and remedies of the Trustee and the Holders
shall continue as though no such proceeding has been instituted.

 

Section 5.10    Rights and
Remedies Cumulative. Except as otherwise provided with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Securities in
the last paragraph of Section 3.06, no right or remedy herein conferred
upon or reserved to the Trustee or to the Holders is intended to be exclusive
of any other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy
given hereunder or now or hereafter existing at law or in equity or otherwise.
The assertion or employment of any right or remedy hereunder, or otherwise,
shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.

 

Section 5.11    Delay or
Omission Not Waiver. No delay or omission of the Trustee or of any Holder of
any Securities to exercise any right or remedy accruing upon any Event of
Default shall impair any such right or remedy or constitute a waiver of any
such Event of Default or an acquiescence therein. Every right and remedy given
by this Article or by law to the Trustee or to the Holders may be
exercised from time to time, and as often as may be deemed expedient, by the
Trustee or by the Holders, as the case may be.

 

Section 5.12    Control by
Holders. The Holders of a majority in principal amount of the Outstanding
Securities of any series shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred on the Trustee, with respect to the
Securities of such series, provided that:

 

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

 

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

 

21

 

(3) subject
to Section 6.01, the Trustee need not take any action which might involve
the Trustee in personal liability or be unduly prejudicial to the Holders not
joining therein.

 

Section 5.13    Waiver of Past
Defaults. The Holders of not less than a majority in principal amount of the
Outstanding Securities of any series may by written notice to the Trustee on
behalf of the Holders of all the Securities of such series waive any Default or
Event of Default with respect to such series and its consequences, except a
Default or Event of Default:

 

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

 

(2) in
respect of a covenant or other provision hereof which under Article Nine
cannot be modified or amended without the consent of the Holder of each
Outstanding Security of such series affected.

 

Upon any such waiver, such
Default or Event of Default shall cease to exist and shall be deemed to have
been cured, for every purpose of this Indenture and the Securities of such
series; but no such waiver shall extend to any subsequent or other Default or
Event of Default or impair any right consequent thereon.

 

Section 5.14    Undertaking
for Costs. All parties to this Indenture agree, and each Holder of any Security
by his acceptance thereof shall be deemed to have agreed, that any court may in
its discretion require, in any suit for the enforcement of any right or remedy
under this Indenture, or in any suit against the Trustee for any action taken,
suffered or omitted by it as Trustee, the filing by any party litigant in such
suit of an undertaking to pay the costs of such suit, and that such court may
in its discretion assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in such suit, having due regard to the merits
and good faith of the claims or defenses made by such party litigant; but the
provisions of this Section shall not apply to any suit instituted by the
Company, to any suit instituted by the Trustee, to any suit instituted by any
Holder, or group of Holders, holding in the aggregate more than ten percent in
principal amount of the Outstanding Securities of any series, or to any suit
instituted by any Holder for the enforcement of the payment of the principal of
or premium, if any, or interest on any Security on or after the Stated Maturity
or Maturities expressed in such Security (or, in the case of redemption, on or
after the Redemption Date).

 

ARTICLE 6

THE TRUSTEE

 

Section 6.01    Certain Duties
and Responsibilities of the Trustee.

 

(a) Except during the
continuance of an Event of Default, the Trustee’s duties and responsibilities
under this Indenture shall be governed by Section 315(a) of the Trust
Indenture Act.

 

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

 

(c) None of the
provisions of Section 315(d) of the Trust Indenture Act shall be
excluded from this Indenture.

 

(d) Every provision of this
Indenture which pertains to the Trustee shall be subject to this Section 6.01.

 

Section 6.02    Notice of
Defaults. Within 90 days after the occurrence of any Default or Event of
Default with respect to the Securities of any series, the Trustee shall give to
all Holders of Securities of such series, as their names and addresses appear
in the Security Register, notice of such Default or Event of Default known to
the Trustee, unless such Default or Event of Default shall have been cured or
waived; provided, however, that, except in the case of a Default or Event of
Default in the payment of the principal of or premium, if any, or interest on
any Security of such series, the Trustee shall be protected in withholding such
notice if and so long as the board of directors, the executive committee or a
trust committee of directors and/or Responsible Officers of the Trustee in good
faith determine that the withholding of such notice is in the interest of the
Holders of Securities of such series.

 

Section 6.03    Certain Rights
of Trustee. Subject to the provisions of the Trust Indenture Act:

 

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

 

(b) any request or
direction of the Company mentioned herein shall be sufficiently evidenced by a
Company Request or Company Order and any resolution of the Board of Directors
may be sufficiently evidenced by a Board Resolution;

 

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

 

22

 

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

 

(e) the Trustee shall be
under no obligation to exercise any of the rights or powers vested in it by
this Indenture at the request or direction of any of the Holders pursuant to
this Indenture, unless such Holders shall have offered to the Trustee
satisfactory security or indemnity against the costs, expenses and liabilities
which might be incurred by it in compliance with such request or direction;

 

(f) prior to the
occurrence of an Event of Default with respect to the Securities of any series
and after the curing or waiving of all such Events of Default which may have
occurred, the Trustee shall not be bound to make any investigation into the
facts or matters stated in any resolution, certificate, statement, instrument,
opinion, report, notice, request, direction, consent, order, approval or other
paper or document, or the books and records of the Company, unless requested in
writing to do so by the Holders of a majority in principal amount of the
Outstanding Securities of any series; provided, however, that if the payment
within a reasonable time to the Trustee of the costs, expenses or liabilities
likely to be incurred by it in the making of such investigation is not, in the
opinion of the Trustee, reasonably assured to the Trustee by the security
afforded to it by the terms of this Indenture, the Trustee may require
reasonable indemnity against such costs, expenses or liabilities as a condition
to so proceeding; the reasonable expense of every such investigation shall be
paid by the Company or, if paid by the Trustee, shall be repaid by the Company
upon demand;

 

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

 

(h) the Trustee shall
not be required to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in
the exercise of its rights or powers, if it shall have reasonable grounds for
believing that repayment of such funds or adequate indemnity against such risk
or liability is not reasonably assured to it.

 

Section 6.04    Not
Responsible for Recitals or Issuance of Securities. The recitals herein and in
the Securities, except the Trustee’s certificates of authentication, shall be
taken as the statements of the Company, and neither the Trustee nor any
Authenticating Agent assumes any responsibility for their correctness. The
Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Securities, except that the Trustee represents that it is
duly authorized to execute and deliver this Indenture, authenticate the
Securities and perform its obligations hereunder, and that the statements made
by it or to be made by it in a Statement of Eligibility and Qualification on Form T-1
supplied to the Company are true and accurate. Neither the Trustee nor any
Authenticating Agent shall be accountable for the use or application by the
Company of Securities or the proceeds thereof.

 

Section 6.05    May Hold
Securities. The Trustee, any Authenticating Agent, any Paying Agent, any
Security Registrar or any other agent of the Company, in its individual or any
other capacity, may become the owner or pledgee of Securities and, subject to
Sections 6.08 and 6.13, may otherwise deal with the Company with the same rights
it would have if it were not Trustee, Authenticating Agent, Paying Agent,
Security Registrar or such other agent.

 

Section 6.06    Money Held in
Trust. Money held by the Trustee in trust hereunder (including amounts held by
the Trustee as Paying Agent) need not be segregated from other funds except to
the extent required by law. The Trustee shall be under no liability for
interest on any money received by it hereunder except as otherwise agreed upon
in writing with the Company.

 

Section 6.07    Compensation
and Reimbursement. The Company agrees:

 

(1) to
pay to the Trustee from time to time reasonable compensation as negotiated
between the Company and the Trustee for all services rendered by it hereunder
(which compensation shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust);

 

(2) except
as otherwise expressly provided herein, to reimburse the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or
made by the Trustee in accordance with any provision of this Indenture
(including the reasonable compensation and the expenses and disbursements of
its agents and counsel), except any such expense, disbursement or advance as
may be attributable to its negligence or bad faith; and

 

(3) to
indemnify the Trustee for, and to hold it harmless against, any loss,
liability, damage, claim or expense, including taxes (other than taxes based
upon or determined or measured by the income of the Trustee), incurred without
negligence or bad faith on its part, arising out of or in connection with the
acceptance or administration of the trust or trusts hereunder, including the
costs and expenses of defending itself against any claim or liability in
connection with the exercise or performance of any of its powers or duties
hereunder.

 

When the Trustee incurs
expenses or renders services in connection with an Event of Default specified
in Section 5.01(6) or Section 5.01(7), the expenses (including
the reasonable charges and expenses of its counsel) and the compensation for
the services are intended to constitute expenses of administration under any
applicable Bankruptcy Law.

 

The provisions of this Section 6.07
shall survive this Indenture and the resignation or removal of the Trustee.

 

23

 

Section 6.08    Disqualification;
Conflicting Interests. The Trustee shall be disqualified only where such
disqualification is required by Section 310(b) of the Trust Indenture
Act. Nothing shall prevent the Trustee from filing with the Commission the
application referred to in the second to last paragraph of Section 310(b) of
the Trust Indenture Act.

 

Section 6.09    Corporate
Trustee Required; Eligibility. There shall at all times be a Trustee hereunder
which shall be eligible to act as Trustee under Section 310(a)(1) of
the Trust Indenture Act having a combined capital and surplus (together with
its parent) of at least $100,000,000 and subject to supervision or examination
by federal or State authority. If such corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of said
supervising or examining authority, then for the purposes of this Section, the
combined capital and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent report of
condition so published. Neither the Company nor any Person directly or
indirectly controlling, controlled by, or under common control with the Company
may serve as Trustee. If at any time the Trustee shall cease to be eligible in
accordance with the provisions of this Section, it shall resign immediately in
the manner and with the effect hereinafter specified in this Article.

 

Section 6.10    Resignation
and Removal; Appointment of Successor.

 

(a) No resignation or
removal of the Trustee and no appointment of a successor Trustee pursuant to
this Article shall become effective until the acceptance of appointment by
the successor Trustee in accordance with the applicable requirements of Section 6.11.

 

(b) The Trustee may
resign at any time with respect to the Securities of one or more series by
giving written notice thereof to the Company. If the instrument of acceptance
by a successor Trustee required by Section 6.11 shall not have been delivered
to the Trustee within 30 days after the giving of such notice of resignation,
the resigning Trustee may petition any court of competent jurisdiction for the
appointment of a successor Trustee with respect to the Securities of such
series.

 

(c) The Trustee may be
removed at any time with respect to the Securities of any series by Act of the
Holders of a majority in principal amount of the Outstanding Securities of such
series, delivered to the Trustee and to the Company.

 

(d) If at any time:

 

(i) the Trustee shall
fail to comply with Section 310(b) of the Trust Indenture Act after
written request therefor by the Company or by any Holder who has been a bona
fide Holder of a Security for at least six months; or

 

(ii) the Trustee shall
cease to be eligible under Section 6.09 and shall fail to resign after
written request therefor by the Company or by any such Holder of a Security who
has been a bona fide Holder of a Security for at least six months; or

 

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

 

then, in any such case, (i) the
Company by a Board Resolution may remove the Trustee with respect to all
Securities, or (ii) subject to Section 315(e) of the Trust
Indenture Act, any Holder who has been a bona fide Holder of a Security for at least
six months may, on behalf of himself and all others similarly situated,
petition any court of competent jurisdiction for the removal of the Trustee
with respect to all Securities and the appointment of a successor Trustee or
Trustees.

 

(e) If the Trustee shall
resign, be removed or become incapable of acting, or if a vacancy shall occur
in the office of Trustee for any cause, with respect to the Securities of one
or more series, the Company, by a Board Resolution, shall promptly appoint a
successor Trustee or Trustees with respect to the Securities of that or those
series (it being understood that any such successor Trustee may be appointed
with respect to the Securities of one or more or all of such series and that at
any time there shall be only one Trustee with respect to the Securities of any
particular series) and shall comply with the applicable requirements of Section 6.11.
If, within one year after such resignation, removal or incapability, or the
occurrence of such vacancy, a successor Trustee with respect to the Securities
of any series shall be appointed by Act of the Holders of a majority in
principal amount of the Outstanding Securities of such series delivered to the
Company and the retiring Trustee, the successor Trustee so appointed shall,
forthwith upon its acceptance of such appointment in accordance with the
applicable requirements of Section 6.11, become the successor Trustee with
respect to the Securities of such series and to that extent supersede the
successor Trustee appointed by the Company with respect to such Securities. If
no successor Trustee with respect to the Securities of any series shall have
been so appointed by the Company or the Holders and accepted appointment in the
manner required by Section 6.11, any Holder who has been a bona fide
Holder of a Security of such series for at least six months may, on behalf of
himself and all others similarly situated, petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the
Securities of such series.

 

(f) The Company shall
give notice of each resignation and each removal of the Trustee with respect to
the Securities of any series and each appointment of a successor Trustee with
respect to the Securities of any series by mailing written notice of such event
by first-class mail, postage prepaid, to all Holders of Securities of such
series as their names and addresses appear in the Security Register. Each
notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office.

 

24

 

Section 6.11    Acceptance of
Appointment by Successor.

 

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

 

(b) In case of the
appointment hereunder of a successor Trustee with respect to the Securities of
some (but not all) series, the Company, the retiring Trustee and each successor
Trustee with respect to the Securities of such series shall execute and deliver
an indenture supplemental hereto wherein each successor Trustee shall accept
such appointment and which (1) shall contain such provisions as shall be
necessary or desirable to transfer and confirm to, and to vest in, each
successor Trustee all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates, (2) if the retiring Trustee
is not retiring with respect to all Securities, shall contain such provisions
as shall be deemed necessary or desirable to confirm that all the rights,
powers, trusts and duties of the retiring Trustee with respect to the
Securities of that or those series as to which the retiring Trustee is not
retiring shall continue to be vested in the retiring Trustee, and (3) shall
add to or change any of the provisions of this Indenture as shall be necessary
to provide for or facilitate the administration of the trusts hereunder by more
than one Trustee, it being understood that nothing herein or in such
supplemental indenture shall constitute such Trustees co-trustees of the same
trust and that each such Trustee shall be trustee of a trust or trusts
hereunder separate and apart from any trust or trusts hereunder administered by
any other such Trustee; and upon the execution and delivery of such
supplemental indenture the resignation or removal of the retiring Trustee shall
become effective to the extent provided therein and each such successor
Trustee, without any further act, deed or conveyance, shall become vested with
all the rights, powers, trusts and duties of the retiring Trustee with respect
to the Securities of that or those series to which the appointment of such
successor Trustee relates; but, on request of the Company or any successor
Trustee, such retiring Trustee shall duly assign, transfer and deliver to such
successor Trustee all property and money held by such retiring Trustee
hereunder with respect to the Securities of that or those series to which the
appointment of such successor Trustee relates.

 

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

 

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

 

Section 6.12    Merger,
Conversion, Consolidation or Succession to Business. Any corporation into which
the Trustee may be merged or converted or with which it may be consolidated, or
any corporation resulting from any merger, conversion or consolidation to which
the Trustee shall be a party, or any corporation succeeding to all or
substantially all the corporate trust business of the Trustee, shall be the
successor of the Trustee hereunder, provided such corporation shall be
otherwise qualified and eligible under this Article, without the execution or
filing of any paper or any further act on the part of any of the parties
hereto. In case any Securities shall have been authenticated, but not
delivered, by the Trustee then in office, any successor (by merger, conversion,
consolidation or otherwise as permitted hereunder) to such authenticating
Trustee may adopt such authentication and deliver the Securities so
authenticated with the same effect as if such successor Trustee had itself
authenticated such Securities.

 

Section 6.13    Preferential
Collection of Claims Against Company. The Trustee shall comply with Section 311(a) of
the Trust Indenture Act, excluding any creditor relationship listed in Section 311(b) of
the Trust Indenture Act. A Trustee who has resigned or been removed shall be
subject to Section 311(a) of the Trust Indenture Act to the extent
indicated therein.

 

Section 6.14    Appointment of
Authenticating Agent. At any time when any of the Securities remain Outstanding
the Trustee may appoint an Authenticating Agent or Agents with respect to one
or more series of Securities which shall be authorized to act on behalf of, and
subject to the direction of, the Trustee to authenticate Securities of such
series issued upon exchange, registration of transfer or partial redemption
thereof or pursuant to Section 3.06, and Securities so authenticated shall
be entitled to the benefits of this Indenture and shall be valid and obligatory
for all purposes as if authenticated by the Trustee hereunder. Wherever
reference is made in this Indenture to the authentication and delivery of
Securities by the Trustee or the Trustee’s certificate of authentication, such
reference shall be deemed to include authentication and delivery on behalf of
the Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent. Each
Authenticating Agent shall be acceptable to the Company and shall at all times
be a corporation organized and doing business under the laws of the United
States of America, any State thereof or the District of Columbia, authorized
under such laws to act as Authenticating Agent, having a combined capital and
surplus (together with its parent) of not less than $100,000,000 and subject to
supervision or examination by federal or State authority. If such
Authenticating Agent publishes reports of condition at least annually, pursuant
to law or to the requirements of said supervising or examining authority, then
for the purposes of this Section, the combined capital and surplus of such
Authenticating Agent shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published. If at any time
an Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, such Authenticating Agent shall resign immediately
in the manner and with the effect specified in this Section.

 

Any corporation into which an
Authenticating Agent may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which such Authenticating Agent shall be a party, or any
corporation succeeding to the corporate agency or corporate trust business of an
Authenticating Agent, shall continue to be an Authenticating Agent, provided
such corporation 

 

25

 

shall
be otherwise eligible under this Section, without the execution or filing of
any paper or any further act on the part of the Trustee or the Authenticating
Agent.

 

An Authenticating Agent may
resign at any time by giving written notice thereof to the Trustee and to the
Company. The Trustee may at any time terminate the agency of an Authenticating
Agent by giving written notice thereof to such Authenticating Agent and to the
Company. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time such Authenticating Agent shall cease to be
eligible in accordance with the provisions of this Section, the Trustee may
appoint a successor Authenticating Agent which shall be acceptable to the
Company and shall mail written notice of such appointment by first-class mail,
postage prepaid, to all Holders of Securities of the series with respect to
which such Authenticating Agent will serve, as their names and addresses appear
in the Security Register. Any successor Authenticating Agent upon acceptance of
its appointment hereunder shall become vested with all the rights, powers and
duties of its predecessor hereunder, with like effect as if originally named as
an Authenticating Agent. No successor Authenticating Agent shall be appointed
unless eligible under the provisions of this Section.

 

The Company agrees to pay to
each Authenticating Agent from time to time reasonable compensation as
negotiated between the Company and such Authenticating Agent for its services
under this Section.

 

If an appointment with
respect to one or more series is made pursuant to this Section, the Securities
of such series may have endorsed thereon, in addition to the Trustee’s
certificate of authentication, an alternate certificate of authentication in
the following form:

 

Form of Authenticating Agent’s

Certificate of Authentication

 

 

	
  Dated:

  	
   

  	
   

  	
   

  

 

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

 

 

	
   

  	
   

  
	
   

  	
  As Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  As Authenticating Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Authorized Signatory

  

 

 

Section 6.15    Compliance
with Tax Laws. The Trustee hereby agrees to comply with all U.S. Federal income
tax information reporting and withholding requirements applicable to it with
respect to payments of premium (if any) and interest on the Securities of any
series, whether acting as Trustee, Security Registrar, Paying Agent or
otherwise with respect to the Securities of any series.

 

ARTICLE 7

 

HOLDERS’
LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

Section 7.01    Company to
Furnish Trustee Names and Addresses of Holders. The Company will furnish or
cause to be furnished to the Trustee:

 

(a) semi-annually, not
later than 15 days after the Regular Record Date for each series of Securities,
a list, in such form as the Trustee may reasonably require, of the names and
addresses of the Holders of Securities as of such Regular Record Date (unless
the Trustee has such information), or if there is no Regular Record Date for
interest for such series of Securities, semi-annually, upon such dates as are
set forth in the Board Resolution or indenture supplemental hereto authorizing
such series, and

 

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

 

26

 

Section 7.02    Preservation
of Information; Communications to Holders.

 

(a) The Trustee shall
preserve, in as current a form as is reasonably practicable, the names and
addresses of Holders contained in the most recent list furnished to the Trustee
as provided in Section 7.01 and the names and addresses of Holders
received by the Trustee in its capacity as Security Registrar. The Trustee may
destroy any list furnished to it as provided in Section 7.01 upon receipt
of a new list so furnished.

 

(b) If three or more
Holders (herein referred to as “APPLICANTS”) apply in writing to the Trustee,
and furnish to the Trustee reasonable proof that each such applicant has owned
a Security for a period of at least six months preceding the date of such
application, and such application states that the applicants desire to
communicate with other Holders with respect to their rights under this
Indenture or under the Securities and is accompanied by a copy of the form of
proxy or other communication which such applicants propose to transmit, then
the Trustee shall, within five Business Days after the receipt of such
application, at its election, either:

 

(i) afford such
applicants access to the information preserved at the time by the Trustee in
accordance with Section 7.02(a); or

 

(ii) inform such
applicants as to the approximate number of Holders whose names and addresses
appear in the information preserved at the time by the Trustee in accordance
with Section 7.02(a), and as to the approximate cost of mailing to such
Holders the form of proxy or other communication, if any, specified in such
application.

 

If
the Trustee shall elect not to afford such applicants access to such
information, the Trustee shall, upon the written request of such applicants,
mail to each Holder whose name and address appears in the information preserved
at the time by the Trustee in accordance with Section 7.02(a) a copy
of the form of proxy or other communication which is specified in such request,
with reasonable promptness after a tender to the Trustee of the material to be
mailed and of payment, or provision for the payment, of the reasonable expenses
of mailing, unless within five days after such tender the Trustee shall mail to
such applicants and file with the Commission, together with a copy of the
material to be mailed, a written statement to the effect that, in the opinion
of the Trustee, such mailing would be contrary to the best interests of the
Holders or would be in violation of applicable law. Such written statement
shall specify the basis of such opinion. If the Commission, after opportunity
for a hearing upon the objections specified in the written statement so filed,
shall enter an order refusing to sustain any of such objections or if, after
the entry of an order sustaining one or more of such objections, the Commission
shall find, after notice and opportunity for hearing, that all objections so
sustained have been met and shall enter an order so declaring, the Trustee
shall mail copies of such material to all such Holders with reasonable
promptness after the entry of such order and the renewal of such tender;
otherwise the Trustee shall be relieved of any obligation or duty to such
applicants respecting their application.

 

(c) Every Holder of
Securities, by receiving and holding the same, agrees with the Company and the
Trustee that neither the Company nor the Trustee nor any agent of either of
them shall be held accountable by reason of the disclosure of any such
information as to the names and addresses of the Holders in accordance with Section 7.02(b),
regardless of the source from which such information was derived, and that the
Trustee shall not be held accountable by reason of mailing any material
pursuant to a request made under Section 7.02(b).

 

Section 7.03    Reports by
Trustee.

 

(a) Within 60 days after
             of
each year commencing with the year 20    , the Trustee
shall transmit by mail to all Holders of Securities as provided in Section 313(c) of
the Trust Indenture Act, a brief report dated as of
            , if
required by and in compliance with Section 313(a) of the Trust
Indenture Act. The Trustee shall also comply with Section 313(b) of
the Trust Indenture Act.

 

(b) A copy of each such
report shall, at the time of such transmission to Holders, be filed by the
Trustee with each stock exchange or inter-dealer quotation system upon which
any Securities are listed, with the Commission and with the Company. The
Company will notify the Trustee when any Securities are listed on any stock
exchange or any inter-dealer quotation system.

 

Section 7.04    Reports by
Company. The Company shall:

 

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

 

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

 

(3) transmit
or cause to be transmitted by mail to all Holders, as their names and addresses
appear in the Security Register, (a) as promptly as reasonably practicable
following the furnishing of the same to its stockholders, the Company’s annual
report to stockholders, containing certified financial statements, and any
other financial reports which the Company generally furnishes to its
stockholders, and (b) within 30 days after 

 

27

 

the
filing thereof with the Trustee, such summaries of any other information,
documents and reports required to be filed by the Company pursuant to paragraphs
(1) and (2) of this Section as may be required by rules and
regulations prescribed from time to time by the Commission; and

 

(4) furnish
to the Trustee, within 90 days after the end of each fiscal year of the Company
(which fiscal year currently ends on the last Friday in the month of December of
each calendar year), a brief certificate from the principal executive officer,
principal financial officer or principal accounting officer as to his or her
knowledge of the Company’s compliance with all conditions and covenants under
this Indenture. For purposes of this paragraph, such compliance shall be
determined without regard to any period of grace or requirement of notice
provided under this Indenture. Such certificate need not comply with Section 1.02.

 

ARTICLE 8

CONSOLIDATION, MERGER, LEASE, SALE OR TRANSFER

 

Section 8.01    When Company May Merge,
Etc. Except as may be otherwise provided as contemplated by Section 3.01
relating to Securities of a series, the Company shall not consolidate with, or
merge with or into, any other Person (whether or not the Company shall be the
surviving corporation or entity), or convey, transfer or lease all or
substantially all of its properties and assets as an entirety or substantially
as an entirety to any Person or group of affiliated Persons, in one transaction
or a series of related transactions, unless:

 

(1) either
the Company shall be the continuing Person or the Person (if other than the
Company) formed by such consolidation or with which or into which the Company
is merged or the Person (or group of affiliated Persons) to which all or
substantially all the properties and assets of the Company as an entirety or
substantially as an entirety are conveyed, transferred or leased shall be a
corporation or other entity (group of affiliated corporations or entities)
organized and existing under the laws of the United States of America or any
State thereof or the District of Columbia and shall expressly assume, by an
indenture supplemental hereto, executed and delivered to the Trustee, in form
reasonably satisfactory to the Trustee, all the obligations of the Company
under the Securities and this Indenture; and

 

(2) immediately
after giving effect to such transaction or series of related transactions, no
Event of Default, and no Default, shall have occurred and be continuing.

 

Notwithstanding the
foregoing, the Company may (a) consolidate with, or merge with or into, an
Affiliate incorporated for the purpose incorporating the Company in another
jurisdiction and/or (b) convey, transfer or lease all or substantially all
of its properties and assets as an entirety or substantially as an entirety to
any Subsidiary or Subsidiaries, in one transaction or a series of related
transactions.

 

Section 8.02    Opinion of
Counsel. The Company shall deliver to the Trustee prior to the proposed
transaction(s) covered by Section 8.01 an Officers’ Certificate and
an Opinion of Counsel stating that the transaction(s) and such
supplemental indenture comply with this Indenture and that all conditions
precedent to the consummation of the transaction(s) under this Indenture
have been met.

 

Section 8.03    Successor
Corporation Substituted. Upon any consolidation by the Company with or merger
by the Company into any other corporation or other entity or any conveyance,
transfer or lease all or substantially all of the property and assets of the
Company in accordance with Section 8.01, the successor corporation or
other entity formed by such consolidation or into which the Company is merged
or the successor corporation or entity or affiliated group of corporations or
entities to which such lease, sale, assignment or transfer is made shall
succeed to, and be substituted for, and may exercise every right and power of,
the Company under this Indenture with the same effect as if such successor
corporation or corporations or entity or entities had been named as the Company
herein, and thereafter, except in the case of a lease, the predecessor
corporation or corporations or entity or entities shall be relieved of all
obligations and covenants under this Indenture and the Securities and in the
event of such conveyance or transfer, except in the case of a lease, any such
predecessor corporation may be dissolved and liquidated.

 

ARTICLE 9

SUPPLEMENTAL INDENTURES

 

Section 9.01    Supplemental
Indentures Without Consent of Holders. Without notice to or the consent of any
Holders, the Company, when authorized by a Board Resolution, and the Trustee,
at any time and from time to time, may enter into one or more indentures supplemental
hereto, in form reasonably satisfactory to the Trustee, for any of the
following purposes:

 

(1) to
evidence the succession of another corporation to the Company and the
assumption by any such successor of the covenants of the Company herein and in
the Securities; or

 

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

 

(3) to
add any additional Events of Default with respect to all or any series of
Securities; or

 

(4) to
add or change any of the provisions of this Indenture to such extent as shall
be necessary to permit or facilitate the issuance of Securities in bearer form,
registrable or not registrable as to principal, and with or without interest
coupons; or

 

28

 

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

 

(6) to
secure the Securities; or

 

(7) to
establish the form or terms of Securities of any series as permitted by
Sections 2.01 and 3.01; or

 

(8) to
evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Securities of one or more series and to add to or
change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one
Trustee, pursuant to the requirements of Section 6.11(b); or

 

(9) to
cure any ambiguity, defect or inconsistency or to correct or supplement any
provision herein which may be inconsistent with any other provision herein; or

 

(10) to
make any change that does not materially adversely affect the interests of the
Holders of Securities of any series then Outstanding; or

 

(11)
to add Guarantees or Guarantors with respect to all or any series of the
Securities; or

 

(12)
to provide for uncertificated Securities in addition to or in place of
certificated Securities (provided that the uncertificated Securities are issued
in registered form for purposes of Section 163(f) of the Internal
Revenue Code or in a manner such that the uncertificated Securities are
described in Section 163(f)(2)(B) of such Code).

 

Upon request of the Company,
accompanied by a Board Resolution authorizing the execution of any such
supplemental indenture, and upon receipt by the Trustee of the documents
described in (and subject to the last sentence of) Section 9.03, the
Trustee shall join with the Company in the execution of any supplemental
indenture authorized or permitted by the terms of this Indenture.

 

Section 9.02    Supplemental
Indentures with Consent of Holders. With the written consent of the Holders of
a majority in aggregate principal amount of the Outstanding Securities of each
series affected by such supplemental indenture (with the Securities of each
series voting as a class), by Act of said Holders delivered to the Company and
the Trustee, the Company, when authorized by a Board Resolution, and the
Trustee shall, subject to Section 9.03, enter into an indenture or
indentures supplemental hereto for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture
or of modifying in any manner the rights of the Holders of Securities of such
series under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Security
affected thereby,

 

(1) change
the Stated Maturity of the principal of, or premium, if any, or any installment
of principal of or premium, if any, or interest on, any Security, or reduce the
principal amount thereof or the rate of interest thereon or any premium payable
upon the optional redemption or Stated Maturity thereof, or change the manner
in which the amount of any principal thereof or premium, if any, or interest
thereon is determined, or reduce the amount of the principal of any Original
Issue Discount Security that would be due and payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 5.02, or change
any Place of Payment where, or the coin or currency or currency unit in which,
any Security or any premium or interest thereon is payable, or impair the right
to institute suit for the enforcement of any such payment on or after the
Stated Maturity thereof (or, in the case of redemption, on or after the
Redemption Date);

 

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

 

(3) modify
any of the provisions of this Section, Section 5.13 or Section 10.06,
except to increase any such percentage or to provide that certain other
provisions of this Indenture cannot be modified or waived without the consent
of the Holder of each Outstanding Security affected thereby; provided, however,
that this clause shall not be deemed to require the consent of any Holder with respect
to changes in the references to “the Trustee” and concomitant changes in this Section and
Section 10.06, or the deletion of this proviso, in accordance with the
requirements of Sections 6.11(b) and 9.01(8).

 

A supplemental indenture
which changes or eliminates any covenant or other provisions of this Indenture
which has expressly been included solely for the benefit of one or more
particular series of Securities, or which modifies the rights of the Holders of
Securities of such series with respect to such covenant or other provision,
shall be deemed not to affect the rights under this Indenture of the Holders of
Securities of any other series.

 

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

 

Section 9.03    Execution of
Supplemental Indentures. The Trustee shall sign any supplemental indenture
authorized pursuant to this Article, subject to the last sentence of this Section 9.03.
In executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article or the modifications thereby of the
trusts created by this Indenture, the Trustee shall be entitled to receive, and
(subject to 

 

29

 

Section 6.01) shall be fully protected in relying upon, an Officers’
Certificate and an Opinion of Counsel stating that the execution of such
supplemental indenture is authorized or permitted by this Indenture. The
Trustee may, but shall not be obligated to, enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under
this Indenture or otherwise.

 

Section 9.04    Effect of
Supplemental Indentures. Upon the execution of any supplemental indenture under
this Article, this Indenture shall be modified in accordance therewith, and
such supplemental indenture shall form a part of this Indenture for all
purposes; and every Holder of Securities theretofore or thereafter
authenticated and delivered hereunder shall be bound thereby.

 

Section 9.05    Conformity
with Trust Indenture Act. Every supplemental indenture executed pursuant to
this Article shall conform to the requirements of the Trust Indenture Act
as then in effect.

 

Section 9.06    Reference in
Securities to Supplemental Indentures. Securities of any series authenticated
and delivered after the execution of any supplemental indenture pursuant to
this Article may, and shall if required by the Trustee, bear a notation in
form approved by the Trustee as to any matter provided for in such supplemental
indenture. If the Company shall so determine, new Securities of any series so
modified as to conform, in the opinion of the Trustee and the Company, to any
such supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Trustee in exchange for Outstanding
Securities of such series.

 

ARTICLE
10

COVENANTS

 

Section 10.01  Payments of
Securities. With respect to each series of Securities, the Company will duly
and punctually pay the principal of (and premium, if any) and interest on such
Securities in accordance with their terms and this Indenture, and will duly
comply with all the other terms, agreements and conditions contained in, or
made in the Indenture for the benefit of, the Securities of such series.

 

Section 10.02  Maintenance of
Office or Agency. The Company will maintain an office or agency in each Place
of Payment where Securities may be surrendered for registration of transfer or
exchange or for presentation for payment, where notices and demands to or upon
the Company in respect of the Securities and this Indenture may be served. The
Company will give prompt written notice to the Trustee of the location, and any
change in location, of such office or agency. If at any time the Company shall
fail to maintain any such required office or agency or shall fail to furnish
the Trustee with the address thereof, such presentations, surrenders, notices
and demands may be made or served at the address of the Trustee as set forth in
Section 1.05 hereof.

 

The Company may also from
time to time designate one or more other offices or agencies where the
Securities may be presented or surrendered for any or all such purposes and may
from time to time rescind such designations. The Company will give prompt
written notice to the Trustee of any such designation or rescission and of any
change in the location of any such other office or agency.

 

Section 10.03  Compliance Certificates.

 

(a) The Company shall
deliver to the Trustee within 90 days after the end of each fiscal year of the
Company (which fiscal year  currently
ends on the last Friday in the month of December of each calendar year),
an Officers’ Certificate stating whether or not the signer knows of any Default
or Event of Default by the Company that occurred prior to the end of the fiscal
year and is then continuing. If the signer does know of such a Default or Event
of Default, the certificate shall describe each such Default or Event of
Default and its status and the specific section or sections of this Indenture
in connection with which such Default or Event of Default has occurred. The
Company shall also promptly notify the Trustee in writing should the Company’s
fiscal year be changed so that the end thereof is on any date other than the
date on which the Company’s fiscal year currently ends. The certificate need
not comply with Section 1.02 hereof, but shall comply with Section 314(a)(4) of
the Trust Indenture Act.

 

(b) The Company shall
deliver to the Trustee, within 10 days after the occurrence thereof, notice of
any acceleration which with the giving of notice and the lapse of time would be
an Event of Default within the meaning of Section 5.01(5) hereof.

 

(c) The Company shall
deliver to the Trustee forthwith upon becoming aware of a Default or Event of
Default (but in no event later than 10 days after the occurrence of each
Default or Event of Default that is continuing), an Officers’ Certificate
setting forth the details of such Default or Event of Default and the action
that the Company proposes to take with respect thereto and the specific section
or sections of this Indenture in connection with which such Default or Event of
Default has occurred.

 

Section 10.04  Waiver of Stay,
Extension or Usury Laws. The Company covenants (to the extent that it may
lawfully do so) that it will not at any time insist upon, or plead, or in any
manner whatsoever claim, and will actively resist any and all efforts to be
compelled to take the benefit or advantage of, any stay or extension law or any
usury law or other law, which would prohibit or forgive the Company from paying
all or any portion of the principal of and/or interest on the Securities as
contemplated herein, wherever enacted, now or at any time hereafter in force,
or which may affect the covenants or the performance of this Indenture; and (to
the extent that it may lawfully do so) the Company hereby expressly waives all
benefit or advantage of any such law, and covenants that it will not hinder,
delay or impede the execution of any power herein granted to the Trustee, but
will suffer and permit the execution of every such power as though no such law
had been enacted.

 

Section 10.05  Money for
Securities Payments to Be Held in Trust. If the Company shall at any time act
as its own Paying Agent with respect to any series of Securities, it will, on
or before each due date of the principal of (and premium, if any) or interest
on any of the Securities of 

 

30

 

that series, segregate and hold in trust for the benefit of the Persons
entitled thereto a sum sufficient to pay the principal (and premium, if any) or
interest so becoming due until such sums shall be paid to such Persons or
otherwise disposed of as herein provided and will promptly notify the Trustee
of its action or failure so to act.

 

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

 

The Company will cause each
Paying Agent for any series of Securities (other than the Trustee) to execute
and deliver to the Trustee an instrument in which such Paying Agent shall agree
with the Trustee, subject to the provisions of this Section, that such Paying
Agent will:

 

(1) hold
all sums held by it for the payment of the principal of (and premium, if any)
or interest on Securities of that series in trust for the benefit of the
Persons entitled thereto until such sums shall be paid to such Persons or
otherwise disposed of as herein provided;

 

(2) give
the Trustee notice of any default by the Company (or any other obligor upon the
Securities of that series) in the making of any payment of principal (and
premium, if any) or interest on the Securities of that series; and

 

(3) at
any time during the continuance of any such default, upon the written request
of the Trustee, forthwith pay to the Trustee all sums so held in trust by such
Paying Agent.

 

The Company may at any time,
for the purpose of obtaining the satisfaction and discharge of this Indenture
or for any other purpose, pay, or by Company Order direct any Paying Agent to
pay, to the Trustee all sums held in trust by the Company or such Paying Agent,
such sums to be held by the Trustee upon the same trusts as those upon which
such sums were held by the Company or such Paying Agent; and, upon such payment
by any Paying Agent to the Trustee, such Paying Agent shall be released from
all further liability with respect to such money.

 

Any money deposited with the
Trustee or any Paying Agent, or then held by the Company, in trust for the
payment of the principal of (and premium, if any) or interest on any Security
of any series and remaining unclaimed for one year after such principal (and
premium, if any) or interest has become due and payable shall, subject to any
applicable escheat laws, be paid to the Company on Company Request, or (if then
held by the Company) shall be discharged from such trust; and the Holder of
such Security shall thereafter, as an unsecured general creditor, look only to
the Company for payment thereof, and all liability of the Trustee or such
Paying Agent with respect to such trust money, and all liability of the Company
as trustee thereof, shall thereupon cease; provided, however, that the Trustee
of such Paying Agent, before being required to make any such repayment, may at
the expense of the Company cause to be published once, in a newspaper published
in the English language, customarily published on each Business Day and of
general circulation in New York, New York, notice that such money remains
unclaimed and that, after a date specified therein, which shall not be less
than 30 days from the date of such publication, any unclaimed balance of such
money then remaining will be repaid to the Company.

 

Section 10.06  Waiver of
Certain Covenants. The Company may omit in any particular instance to comply
with any term, provision or condition set forth in Article 8, Article 10
(other than Sections      or     ) or
any covenant specified as contemplated under Section 3.01 with respect to
the Securities of any series if before the time for such compliance the Holders
of not less than a majority in principal amount of the Outstanding Securities
of such series shall, by Act of such Holders, either waive such compliance in
such instance or generally waive compliance with such term, provision or
condition, but no such waiver shall extend to or affect such term, provision or
condition except to the extent so expressly waived, and, until such waiver
shall become effective, the obligations of the Company and the duties of the Trustee
in respect of any such term, provision or condition shall remain in full force
and effect.

 

ARTICLE
11

REDEMPTION OF SECURITIES

 

Section 11.01  Applicability
of Article. Securities of any series which are redeemable before their Stated
Maturity shall be redeemable in accordance with their terms and (except as
otherwise specified as contemplated by Section 3.01 for Securities of any
series) in accordance with this Article.

 

Section 11.02  Election to
Redeem; Notice to Trustee. The election of the Company to redeem any Securities
shall be evidenced by a Board Resolution. In case of any redemption at the
election of the Company of less than all the Securities of any series, the
Company shall, at least 30 and not more than 60 days prior to the Redemption Date
fixed by the Company (unless a shorter notice shall be reasonably satisfactory
to the Trustee), notify the Trustee of such Redemption Date and of the
principal amount of Securities of such series to be redeemed. In the case of
any redemption of Securities prior to the expiration of any restriction on such
redemption provided in the terms of such Securities or elsewhere in this
Indenture, the Company shall furnish the Trustee with an Officers’ Certificate
evidencing compliance with such restriction.

 

Section 11.03  Selection by
Trustee of Securities to Be Redeemed. If less than all the Securities of any
series are to be redeemed, the particular Securities to be redeemed shall be
selected prior to the giving of the applicable notice of redemption to Holders
by the Trustee, from the Outstanding Securities of such series not previously
called for redemption, substantially pro rata, by lot or by any other method as
the Trustee considers fair and appropriate and that complies with the
requirements of the principal national securities exchange, if any, on which
such Securities are listed, and which may provide for the selection for
redemption of portions (equal to the minimum authorized denomination for
Securities of that 

 

31

 

series or any integral multiple thereof) of the principal amount of
Securities of such series of a denomination larger than the minimum authorized
denomination for Securities of that series; provided that in case the
Securities of such series have different terms and maturities, the Securities
to be redeemed shall be selected by the Company and the Company shall give
notice thereof to the Trustee.

 

The Trustee shall promptly
notify the Company in writing of the Securities selected for redemption and, in
the case of any Securities selected for partial redemption, the principal
amount thereof to be redeemed.

 

For all purposes of this
Indenture, unless the context otherwise requires, all provisions relating to
the redemption of the Securities shall relate, in the case of any Securities
redeemed or to be redeemed only in part, to the portion of the principal amount
of such Securities which has been or is to be redeemed.

 

Section 11.04  Notice of
Redemption. Notice of redemption shall be given by first-class mail, postage
prepaid, mailed not less than 30 nor more than 45 days prior to the Redemption
Date, to each Holder of Securities to be redeemed, at his address appearing in
the Security Register.

 

All notices of redemption
shall state:

 

(1) the
Redemption Date;

 

(2) the
Redemption Price;

 

(3) if
less than all the Outstanding Securities of any series are to be redeemed, the
identification (and, in the case of partial redemption, the principal amounts)
of the particular Securities to be redeemed;

 

(4) that
on the Redemption Date the Redemption Price will become due and payable upon
each such Security to be redeemed and, if applicable, that interest thereon
will cease to accrue on and after said date;

 

(5) the
place or places where such Securities are to be surrendered for payment of the
Redemption Price;

 

(6) that
the redemption is for a sinking fund, if such is the case; and

 

(7) the
CUSIP number, if any, of the Securities to be redeemed.

 

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

 

Section 11.05  Deposit of
Redemption Price. On or prior to any Redemption Date, the Company shall deposit
with the Trustee or with a Paying Agent (or, if the Company is acting as its
own Paying Agent, segregate and hold in trust as provided in Section 10.05)
an amount of money sufficient to pay the Redemption Price of, and (except if
the Redemption Date shall be an Interest Payment Date) accrued interest on, all
the Securities which are to be redeemed on that date.

 

Unless any Security by its
terms prohibits any sinking fund payment obligation from being satisfied by
delivering and crediting Securities (including Securities redeemed otherwise
than through a sinking fund), the Company may deliver such Securities to the
Trustee for crediting against such payment obligation in accordance with the
terms of such Securities and this Indenture.

 

Section 11.06  Securities
Payable on Redemption Date. Notice of redemption having been given as
aforesaid, the Securities so to be redeemed shall, on the Redemption Date,
become due and payable at the Redemption Price therein specified, and from and
after such date (unless the Company shall default in the payment of the
Redemption Price and accrued interest) such Securities shall cease to bear
interest. Upon surrender of any such Security for redemption in accordance with
said notice, such Security shall be paid by the Company at the Redemption
Price, together with accrued interest to the Redemption Date; provided,
however, that installments of interest whose Stated Maturity is on or prior to
the Redemption Date shall be payable to the Holders of such Securities, or one
or more Predecessor Securities, registered as such at the close of business on
the relevant Regular or Special Record Dates according to their terms and the
provisions of Section 3.07.

 

If any Security called for
redemption shall not be so paid upon surrender thereof for redemption, the
principal (and premium, if any) shall, until paid, bear interest from the
Redemption Date at the rate prescribed therefor in the Security.

 

Section 11.07  Securities
Redeemed in Part. Any Security which is to be redeemed only in part shall be
surrendered at an office or agency of the Company at a Place of Payment
therefor (with, if the Company or the Trustee so requires, due endorsement by,
or a written instrument of transfer in form satisfactory to the Company and the
Trustee duly executed by, the Holder thereof or his attorney duly authorized in
writing), and the Company shall execute, and the Trustee shall authenticate and
deliver to the Holder of such Security without service charge, a new Security
or Securities of the same series and Stated Maturity, of any authorized
denomination as requested by such Holder, in aggregate principal amount equal
to and in exchange for the unredeemed portion of the principal of the Security
so surrendered.

 

32

 

ARTICLE
12

SINKING FUNDS

 

Section 12.01  Applicability
of Article. The provisions of this Article shall be applicable to any
sinking fund for the retirement of Securities of a series, except as otherwise
specified as contemplated by Section 3.01 for Securities of such series.

 

The minimum amount of any
sinking fund payment provided for by the terms of Securities of any series is
herein referred to as a “MANDATORY SINKING FUND PAYMENT,” and any payment in
excess of such minimum amount provided for by the terms of Securities of any
series is herein referred to as an “OPTIONAL SINKING FUND PAYMENT.” If provided
for by the terms of Securities of any series, the cash amount of any sinking
fund payment may be subject to reduction as provided in Section 12.02.
Each sinking fund payment shall be applied to the redemption of Securities of
any series as provided for by the terms of Securities of such series.

 

Section 12.02  Satisfaction of
Sinking Fund Payments with Securities. The Company (1) may deliver
Securities of a series (other than any Securities previously called for
redemption) and (2) may apply as a credit Securities of a series which
have been redeemed either at the election of the Company pursuant to the terms
of such Securities or through the application of permitted optional sinking
fund payments pursuant to the terms of such Securities, in each case in
satisfaction of all or any part of any sinking fund payment with respect to the
Securities of such series required to be made pursuant to the terms of such
Securities as provided for by the terms of such series; provided that such
Securities have not been previously so credited. Such Securities shall be
received and credited for such purpose by the Trustee at the Redemption Price
specified in such Securities for redemption through operation of the sinking
fund and the amount of such sinking fund payment shall be reduced accordingly.

 

Section 12.03  Redemption of
Securities for Sinking Fund. Not less than 45 days (or such shorter period
reasonably acceptable to the Trustee) prior to each sinking fund payment date
for any series of Securities, the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing sinking fund
payment for that series pursuant to the terms of that series, the portion
thereof, if any, which is to be satisfied by payment of cash and the portion
thereof, if any, which is to be satisfied by delivering and crediting
Securities of that series pursuant to Section 12.02 and will also deliver
to the Trustee any Securities to be so delivered (which have not been
previously delivered). Not less than 30 days before each such sinking fund
payment date the Trustee shall select the Securities to be redeemed upon such
sinking fund payment date in the manner specified in Section 11.03 and
cause notice of the redemption thereof to be given in the name of and at the
expense of the Company in the manner provided in Section 11.04. Such
notice having been duly given, the redemption of such Securities shall be made
upon the terms and in the manner stated in Sections 11.06 and 11.07.

 

ARTICLE
13

DEFEASANCE AND COVENANT DEFEASANCE

 

Section 13.01  Applicability
of Article; Company’s Option to Effect Defeasance or Covenant Defeasance.
Unless as otherwise specified as contemplated by Section 3.01 for
Securities of such series, provision is made for the inapplicability of, in
whole or in part, or any modification to, either or both of (a) defeasance
of the Securities of a series under Section 13.02 or (b) covenant
defeasance of the Securities of a series under Section 13.03, then the
provisions of such Section or Sections, as the case may be, together with
the other provisions of this Article, shall be applicable to the Securities of
such series and the Company may at its option by Board Resolution, at any time,
with respect to the Securities of such series elect to have either Section 13.02
(unless inapplicable) or Section 13.03 (unless inapplicable) be applied to
the Outstanding Securities of such series upon compliance with the applicable
conditions set forth below in this Article.

 

Section 13.02  Defeasance and
Discharge. Upon the Company’s exercise of the option provided in Section 13.01
to defease the Outstanding Securities of a particular series, the Company shall
be discharged from its obligations with respect to the Outstanding Securities
of such series on the date the applicable conditions set forth in Section 13.04
are satisfied (hereinafter, “DEFEASANCE”). Defeasance shall mean that the
Company shall be deemed to have paid and discharged the entire indebtedness
represented by the Outstanding Securities of such series and to have satisfied
all its other obligations under such Securities and this Indenture insofar as
such Securities are concerned (and the Trustee, at the expense of the Company,
shall execute proper instruments acknowledging the same); provided, however,
that the following rights, obligations, powers, trusts, duties and immunities
shall survive until otherwise terminated or discharged hereunder: (A) the
rights of Holders of Outstanding Securities of such series to receive, solely
from the trust fund provided for in Section 13.04, payments in respect of
the principal of (and premium, if any) and interest on such Securities when
such payments are due, (B) the Company’s obligations with respect to such
Securities under Sections 3.04, 3.05, 3.06, 10.02 and 10.05, (C) the
rights, powers, trusts, duties and immunities of the Trustee hereunder and (D) this
Article. Subject to compliance with this Article, the Company may exercise its
option with respect to defeasance under this Section 13.02 notwithstanding
the prior exercise of its option with respect to covenant defeasance under Section 13.03
in regard to the Securities of such series.

 

Section 13.03  Covenant
Defeasance. Upon the Company’s exercise of the option provided in Section 13.01
to obtain a covenant defeasance with respect to the Outstanding Securities of a
particular series, the Company shall be released from its obligations under
this Indenture and any applicable supplemental indenture (except its
obligations under Sections 3.04, 3.05, 3.06, 5.06, 5.09, 6.10, 10.01, 10.02,
10.03, 10.04 and 10.05) with respect to the Outstanding Securities of such
series on and after the date the applicable conditions set forth in Section 13.04
are satisfied (hereinafter, “COVENANT DEFEASANCE”). Covenant defeasance shall
mean that, with respect to the Outstanding Securities of such series, the
Company may omit to comply with and shall have no liability in respect of any
term, condition or limitation set forth in this Indenture and any applicable
supplemental indenture (except its obligations under Sections 3.04, 3.05, 3.06,
5.06, 5.09, 6.10, 10.01, 10.02, 10.03, 10.04 and 10.05), whether directly or
indirectly by reason of any reference elsewhere herein or by reason of any
reference to any other provision herein or in any other 

 

33

 

document, and such omission to comply shall not constitute an Event of
Default under Section 5.01(4) or any such supplemental indenture with
respect to Outstanding Securities of such series, and the remainder of this
Indenture and of the Securities of such series shall be unaffected thereby.

 

Section 13.04  Conditions to
Defeasance or Covenant Defeasance. The following shall be the conditions to
defeasance under Section 13.02 and covenant defeasance under Section 13.03
with respect to the Outstanding Securities of a particular series:

 

(1) The
Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee satisfying the requirements of Section 6.09
who shall agree to comply with the provisions of this Article applicable
to it), under the terms of an irrevocable trust agreement in form and substance
reasonably satisfactory to such Trustee, as trust funds in trust for the
purpose of making the following payments, specifically pledged as security for,
and dedicated solely to, the benefit of the Holders of such Securities, (A) money
in an amount, or (B) U.S. Government Obligations which through the
scheduled payment of principal and interest in respect thereof in accordance
with their terms will provide, not later than the due date of any payment,
money in an amount, or (C) a combination thereof, in each case sufficient,
in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the
Trustee, to pay and discharge, and which shall be applied by the Trustee (or
other qualifying trustee) to pay and discharge, (i) the principal of (and
premium, if any, on) and each installment of principal of (and premium, if any)
and interest on the Outstanding Securities of such series on the Stated
Maturity of such principal or installment of principal or interest and (ii) any
mandatory sinking fund payments or analogous payments applicable to the
Outstanding Securities of such series on the day on which such payments are due
and payable in accordance with the terms of this Indenture and of such
Securities.

 

(2) No
Default or Event of Default with respect to the Securities of such series shall
have occurred and be continuing on the date of such deposit or shall occur as a
result of such deposit.

 

(3) Such
deposit, defeasance or covenant defeasance shall not result in a breach or
violation of, or constitute a default under, any other material debt agreement
or instrument to which the Company is a party or by which it is bound.

 

(4) In
the case of an election with respect to Section 13.02, the Company shall
have delivered to the Trustee either (a) a ruling directed to the Trustee
received from the Internal Revenue Service to the effect that the Holders of
the Outstanding Securities of such series will not recognize income, gain or
loss for federal income tax purposes as a result of such defeasance and will be
subject to federal income tax on the same amounts, in the same manner and at
the same times as would have been the case if such defeasance had not occurred
or (B) an Opinion of Counsel, based on such ruling or on a change in the
applicable federal income tax law since the date of this Indenture, in either
case to the effect that, and based thereon such opinion shall confirm that, the
Holders of the Outstanding Securities of such series will not recognize income,
gain or loss for federal income tax purposes as a result of such defeasance and
will be subject to federal income tax on the same amounts, in the same manner
and at the same times as would have been the case if such defeasance had not
occurred.

 

(5) In
the case of an election with respect to Section 13.03, the Company shall
have delivered to the Trustee an Opinion of Counsel or a ruling directed to the
Trustee received from the Internal Revenue Service to the effect that the
Holders of the Outstanding Securities of such series will not recognize income,
gain or loss for federal income tax purposes as a result of such covenant
defeasance and will be subject to federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such
covenant defeasance had not occurred.

 

(6) Such
defeasance or covenant defeasance shall be effected in compliance with any
additional terms, conditions or limitations which may be imposed on the Company
in connection therewith pursuant to Section 3.01.

 

(7) The
Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for
relating to either the defeasance under Section 13.02 or the covenant
defeasance under Section 13.03 (as the case may be) have been complied
with.

 

Section 13.05  Deposited Money
and Government Obligations To Be Held in Trust. Subject to the provisions of
the last paragraph of Section 10.05, all money and Government Obligations
(including the proceeds thereof) deposited with the Trustee (or other
qualifying trustee, collectively for purposes of this Section 13.05, the “TRUSTEE”)
pursuant to Section 13.04 in respect of the Outstanding Securities of a
particular series shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Securities and this Indenture, to the
payment, either directly or through any Paying Agent (including the Company
acting as its own Paying Agent) as the Trustee may determine, to the Holders of
such Securities of all sums due and to become due thereon in respect of
principal (and premium, if any) and interest, but such money need not be
segregated from other funds except to the extent required by law.

 

The Company shall pay and
indemnify the Trustee against any tax, fee or other charge imposed on or
assessed against the U.S. Government Obligations deposited pursuant to Section 13.04
or the principal and interest received in respect thereof, other than any such
tax, fee or other charge which by law is for the account of the Holders of the
Outstanding Securities of such series.

 

Anything in this Article to
the contrary notwithstanding, the Trustee shall deliver or pay to the Company
from time to time upon Company Request any money or Government Obligations held
by it as provided in Section 13.04 with respect to Securities of any
series which, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to
the Trustee, are in excess of the amount thereof which would then be required
to be deposited for the purpose for which such money or Government Obligations
were deposited.

 

34

 

Section 13.06  Reinstatement.
If the Trustee or the Paying Agent is unable to apply any money or U.S.
Government Obligations, as the case may be, in accordance with this Article with
respect to any Securities by reason of any order or judgment of any court or
governmental authority enjoining, restraining or otherwise prohibiting such
application, then the obligations under this Indenture and such Securities from
which the Company has been discharged or released pursuant to Section 13.02
or 13.03 shall be revived and reinstated as though no deposit had occurred pursuant
to this Article with respect to such Securities, until such time as the
Trustee or Paying Agent is permitted to apply all money or U.S. Government
Obligations, as the case may be, held in trust pursuant to Section 13.05
with respect to such Securities in accordance with this Article; provided,
however, that if the Company makes any payment of principal of or any premium
or interest on any such Security following such reinstatement of its
obligations, the Company shall be subrogated to the rights (if any) of the
Holders of such Securities to receive such payment from the money or U.S.
Government Obligations, as the case may be, so held in trust.

 

ARTICLE
14

 

GUARANTEES

 

Section 14.01  Guarantee. Any
series of Securities may be guaranteed by one or more of the Guarantors. The
terms and the form of any such Guarantee will be established in the manner
contemplated by Section 3.01 for that particular series of Securities.

 

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

 

	
   

  	
  INTERLINE
  BRANDS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE
  BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

  
	
   

  	
  as
  Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

35

 

	
   

  	
  [GUARANTOR]

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

36

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