Document:

Exhibit 4.1

EXECUTION
COPY

 

 

EQUITABLE
RESOURCES, INC.

 

INDENTURE

 

Dated
as of

 

March 18,
2008

 

 

DEBT
SECURITIES

 

THE BANK OF
NEW YORK

 

Trustee

 

 

 

TABLE
OF CONTENTS *

 

	
   

  	
   

  	
  PAGE

  
	
   

  	
   

  
	
  ARTICLE I

  	
   

  
	
   

  	
   

  	
   

  
	
  DEFINITIONS

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 1.01

  	
  Definitions

  	
  1

  
	
   

  	
   

  	
   

  
	
  ARTICLE II

  	
   

  
	
   

  	
   

  	
   

  
	
  FORMS OF SECURITIES

  	
   

  
	
   

  	
   

  
	
  Section 2.01

  	
  Terms of the
  Securities

  	
  11

  
	
  Section 2.02

  	
  Form of
  Trustee’s Certificate of Authentication

  	
  12

  
	
  Section 2.03

  	
  Form of
  Trustee’s Certificate of Authentication by an Authenticating Agent

  	
  12

  
	
   

  	
   

  	
   

  
	
  ARTICLE III

  	
   

  
	
   

  	
   

  	
   

  
	
  THE DEBT SECURITIES

  	
   

  
	
   

  	
   

  
	
  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

  	
  17

  
	
  Section 3.05

  	
  Registrar
  and Paying Agent

  	
  18

  
	
  Section 3.06

  	
  Transfer and
  Exchange

  	
  19

  
	
  Section 3.07

  	
  Mutilated,
  Destroyed, Lost and Stolen Securities

  	
  22

  
	
  Section 3.08

  	
  Payment of
  Interest; Interest Rights Preserved

  	
  23

  
	
  Section 3.09

  	
  Cancellation

  	
  24

  
	
  Section 3.10

  	
  Computation
  of Interest

  	
  25

  
	
  Section 3.11

  	
  Currency of
  Payments in Respect of Securities

  	
  25

  
	
  Section 3.12

  	
  Judgments

  	
  25

  
	
  Section 3.13

  	
  CUSIP
  Numbers

  	
  26

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV

  	
   

  
	
   

  	
   

  	
   

  
	
  REDEMPTION OF SECURITIES

  	
   

  
	
   

  	
   

  
	
  Section 4.01

  	
  Applicability
  of Right of Redemption

  	
  26

  

 

*              The Table of Contents is not a part of the Indenture.

 

i

 

	
  Section 4.02

  	
  Selection of
  Securities to be Redeemed

  	
  26

  
	
  Section 4.03

  	
  Notice of
  Redemption

  	
  27

  
	
  Section 4.04

  	
  Deposit of
  Redemption Price

  	
  27

  
	
  Section 4.05

  	
  Securities
  Payable on Redemption Date

  	
  28

  
	
  Section 4.06

  	
  Securities
  Redeemed in Part

  	
  28

  
	
   

  	
   

  	
   

  
	
  ARTICLE V

  	
   

  
	
   

  	
   

  	
   

  
	
  SINKING FUNDS

  	
   

  
	
   

  	
   

  
	
  Section 5.01

  	
  Applicability
  of Sinking Fund

  	
  28

  
	
  Section 5.02

  	
  Mandatory
  Sinking Fund Obligation

  	
  29

  
	
  Section 5.03

  	
  Optional
  Redemption at Sinking Fund Redemption Price

  	
  29

  
	
  Section 5.04

  	
  Application
  of Sinking Fund Payment

  	
  29

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI

  	
   

  
	
   

  	
   

  	
   

  
	
  PARTICULAR COVENANTS OF THE COMPANY

  	
   

  
	
   

  	
   

  
	
  Section 6.01

  	
  Payments of
  Securities

  	
  30

  
	
  Section 6.02

  	
  Paying Agent

  	
  31

  
	
  Section 6.03

  	
  To Hold
  Payment in Trust

  	
  31

  
	
  Section 6.04

  	
  Merger,
  Consolidation and Sale of Assets

  	
  33

  
	
  Section 6.05

  	
  Compliance
  Certificate

  	
  33

  
	
  Section 6.06

  	
  Conditional
  Waiver by Holders of Securities

  	
  34

  
	
  Section 6.07

  	
  Statement by
  Officers as to Default

  	
  34

  
	
   

  	
   

  	
   

  
	
  ARTICLE VII

  	
   

  
	
   

  	
   

  	
   

  
	
  REMEDIES OF TRUSTEE AND SECURITYHOLDERS

  	
   

  
	
   

  	
   

  
	
  Section 7.01

  	
  Events of
  Default

  	
  34

  
	
  Section 7.02

  	
  Acceleration;
  Rescission and Annulment

  	
  36

  
	
  Section 7.03

  	
  Other
  Remedies

  	
  37

  
	
  Section 7.04

  	
  Trustee as
  Attorney-in-Fact

  	
  38

  
	
  Section 7.05

  	
  Priorities

  	
  38

  
	
  Section 7.06

  	
  Control by
  Securityholders; Waiver of Past Defaults

  	
  39

  
	
  Section 7.07

  	
  Limitation
  on Suits

  	
  40

  
	
  Section 7.08

  	
  Undertaking
  for Costs

  	
  40

  
	
  Section 7.09

  	
  Remedies
  Cumulative

  	
  41

  
	
   

  	
   

  	
   

  
	
  ARTICLE VIII

  	
   

  
	
   

  	
   

  	
   

  
	
  CONCERNING THE SECURITYHOLDERS

  	
   

  
	
   

  	
   

  
	
  Section 8.01

  	
  Evidence of
  Action of Securityholders

  	
  41

  
	
  Section 8.02

  	
  Proof of Execution
  or Holding of Securities

  	
  41

  
	
  Section 8.03

  	
  Persons
  Deemed Owners

  	
  42

  

 

ii

 

	
  Section 8.04

  	
  Effect of
  Consents

  	
  42

  
	
   

  	
   

  	
   

  
	
  ARTICLE IX

  	
   

  
	
   

  	
   

  	
   

  
	
  SECURITYHOLDERS’ MEETINGS

  	
   

  
	
   

  	
   

  
	
  Section 9.01

  	
  Purposes of
  Meetings

  	
  43

  
	
  Section 9.02

  	
  Call of
  Meetings by Trustee

  	
  43

  
	
  Section 9.03

  	
  Call of
  Meetings by Company or Securityholders

  	
  43

  
	
  Section 9.04

  	
  Qualifications
  for Voting

  	
  43

  
	
  Section 9.05

  	
  Regulation
  of Meetings

  	
  44

  
	
  Section 9.06

  	
  Voting

  	
  44

  
	
  Section 9.07

  	
  No Delay of
  Rights by Meeting

  	
  45

  
	
   

  	
   

  	
   

  
	
  ARTICLE X

  	
   

  
	
   

  	
   

  	
   

  
	
  REPORTS BY THE COMPANY AND THE TRUSTEE AND

  SECURITYHOLDERS’ LISTS

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 10.01

  	
  Reports by
  Trustee

  	
  45

  
	
  Section 10.02

  	
  Reports by
  the Company

  	
  45

  
	
  Section 10.03

  	
  Securityholders’
  Lists

  	
  46

  
	
   

  	
   

  	
   

  
	
  ARTICLE XI

  	
   

  
	
   

  	
   

  	
   

  
	
  CONCERNING THE TRUSTEE

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 11.01

  	
  Rights of
  Trustees; Compensation and Indemnity

  	
  46

  
	
  Section 11.02

  	
  Duties of
  Trustee

  	
  49

  
	
  Section 11.03

  	
  Notice of
  Defaults

  	
  50

  
	
  Section 11.04

  	
  Eligibility;
  Disqualification

  	
  50

  
	
  Section 11.05

  	
  Registration
  and Notice; Removal

  	
  51

  
	
  Section 11.06

  	
  Successor
  Trustee by Appointment

  	
  52

  
	
  Section 11.07

  	
  Successor
  Trustee by Merger

  	
  53

  
	
  Section 11.08

  	
  Right to
  Rely on Officer’s Certificate

  	
  54

  
	
  Section 11.09

  	
  Appointment
  of Authenticating Agent

  	
  54

  
	
  Section 11.10

  	
  Communications
  by Securityholders with Other Securityholders

  	
  55

  
	
   

  	
   

  	
   

  
	
  ARTICLE XII

  	
   

  
	
   

  	
   

  	
   

  
	
  SATISFACTION AND DISCHARGE; DEFEASANCE

  	
   

  
	
   

  	
   

  
	
  Section 12.01

  	
  Applicability
  of Article

  	
  55

  
	
  Section 12.02

  	
  Satisfaction
  and Discharge of Indenture

  	
  55

  
	
  Section 12.03

  	
  Defeasance
  upon Deposit of Moneys or U.S. Government Obligations

  	
  56

  
	
  Section 12.04

  	
  Repayment to
  Company

  	
  58

  
	
  Section 12.05

  	
  Indemnity
  for U.S. Government Obligations

  	
  58

  
	
  Section 12.06

  	
  Deposits to
  Be Held in Escrow

  	
  58

  

 

iii

 

	
  Section 12.07

  	
  Application
  of Trust Money

  	
  59

  
	
  Section 12.08

  	
  Deposits of
  Non-U.S. Currencies

  	
  59

  
	
   

  	
   

  	
   

  
	
  ARTICLE XIII

  	
   

  
	
   

  	
   

  	
   

  
	
  IMMUNITY OF CERTAIN PERSONS

  	
   

  
	
   

  	
   

  
	
  Section 13.01

  	
  No Personal
  Liability

  	
  59

  
	
   

  	
   

  	
   

  
	
  ARTICLE XIV

  	
   

  
	
   

  	
   

  	
   

  
	
  SUPPLEMENTAL INDENTURES

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 14.01

  	
  Without
  Consent of Securityholders

  	
  60

  
	
  Section 14.02

  	
  With Consent
  of Securityholders; Limitations

  	
  61

  
	
  Section 14.03

  	
  Trustee
  Protected

  	
  63

  
	
  Section 14.04

  	
  Effect of
  Execution of Supplemental Indenture

  	
  63

  
	
  Section 14.05

  	
  Notation on
  or Exchange of Securities

  	
  63

  
	
  Section 14.06

  	
  Conformity
  with TIA

  	
  63

  
	
   

  	
   

  	
   

  
	
  ARTICLE XV

  	
   

  
	
   

  	
   

  	
   

  
	
  SUBORDINATION OF SECURITIES

  	
   

  
	
   

  	
   

  
	
  Section 15.01

  	
  Agreement to
  Subordinate

  	
  64

  
	
  Section 15.02

  	
  Distribution
  on Dissolution, Liquidation and Reorganization; Subrogation of Securities

  	
  64

  
	
  Section 15.03

  	
  No Payment
  on Securities in Event of Default on Senior Indebtedness

  	
  65

  
	
  Section 15.04

  	
  Payments on
  Securities Permitted

  	
  66

  
	
  Section 15.05

  	
  Authorization
  of Securityholders to Trustee to Effect Subordination

  	
  66

  
	
  Section 15.06

  	
  Notices to
  Trustee

  	
  66

  
	
  Section 15.07

  	
  Trustee as
  Holder of Senior Indebtedness

  	
  67

  
	
  Section 15.08

  	
  Modifications
  of Terms of Senior Indebtedness

  	
  67

  
	
  Section 15.09

  	
  Reliance on
  Judicial Order or Certificate of Liquidating Agent

  	
  67

  
	
  Section 15.10

  	
  Satisfaction
  and Discharge; Defeasance and Covenant Defeasance

  	
  68

  
	
  Section 15.11

  	
  Trustee Not
  Fiduciary for Holders of Senior Indebtedness

  	
  68

  
	
   

  	
   

  	
   

  
	
  ARTICLE XVI

  	
   

  
	
   

  	
   

  	
   

  
	
  MISCELLANEOUS PROVISIONS

  	
   

  
	
   

  	
   

  
	
  Section 16.01

  	
  Certificates
  and Opinions as to Conditions Precedent

  	
  68

  
	
  Section 16.02

  	
  Trust
  Indenture Act Controls

  	
  69

  
	
  Section 16.03

  	
  Notices to
  the Company and Trustee

  	
  69

  
	
  Section 16.04

  	
  Notices to
  Securityholders; Waiver

  	
  70

  
	
  Section 16.05

  	
  Legal
  Holiday

  	
  70

  
	
  Section 16.06

  	
  Effects of
  Headings and Table of Contents

  	
  70

  
	
  Section 16.07

  	
  Successors
  and Assigns

  	
  70

  

 

iv

 

	
  Section 16.08

  	
  Separability
  Clause

  	
  71

  
	
  Section 16.09

  	
  Benefits of
  Indenture

  	
  71

  
	
  Section 16.10

  	
  Counterparts
  Originals

  	
  71

  
	
  Section 16.11

  	
  Governing
  Law; Waiver of Trial by Jury

  	
  71

  
	
  Section 16.12

  	
  Force
  Majeure

  	
  71

  

 

v

 

INDENTURE dated as of March 18,
2008, among Equitable Resources, Inc., a Pennsylvania corporation (the “Company”),
and The Bank of New York, a New York banking corporation, as trustee (the “Trustee”).

 

WITNESSETH:

 

WHEREAS, the Company has duly authorized the
execution and delivery of this Indenture to provide for the issuance of
unsecured debentures, notes, bonds or other evidences of indebtedness (the “Securities”)
in an unlimited aggregate principal amount to be issued from time to time in
one or more series as provided in this Indenture; and

 

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

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

That, in consideration of the premises and
the purchase of the Securities by the Holders thereof for the equal and proportionate
benefit of all of the present and future Holders of the Securities, each party
agrees and covenants as follows:

 

ARTICLE I

 

DEFINITIONS

 

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

 

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

 

(b)           all terms used herein without definition
which are defined in the Trust Indenture Act, either directly or by reference
therein, have the meanings assigned to them therein; and

 

(c)           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.

 

(d)           References to “Article” or “Section” or
other subdivision herein are references to an Article, Section or other
subdivision of the Indenture, unless the context otherwise requires.

 

Section 1.01           Definitions.

 

(a)        Unless otherwise defined in this Indenture or the
context otherwise requires, all terms used herein shall have the meanings
assigned to them in the Trust Indenture Act.

 

(b)        Unless the context otherwise requires, the terms
defined in this Section 1.01(b) shall for all purposes of this
Indenture have the meanings hereinafter set forth, the  

 

 

following definitions to be equally
applicable to both the singular and the plural forms of any of the terms herein
defined:

 

Affiliate:

 

The term “Affiliate,” with respect to any
specified Person shall mean any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified
Person.  For the purposes of this definition,
“control” when used with respect to any specified Person means the power to
direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise;
and the terms “controlling” and “controlled” have meanings correlative to the
foregoing.

 

Authenticating
Agent:

The term “Authenticating Agent” shall have
the meaning assigned to it in Section 11.09.

 

Board of
Directors:

 

The term “Board of Directors” shall mean
either the board of directors of the Company  or the executive or any other committee of
that board duly authorized to act in respect hereof.

 

Board
Resolution:

 

The term “Board Resolution” shall mean a copy
of a resolution or resolutions certified by the Secretary or an Assistant
Secretary of the Company to have been duly adopted by the Board of Directors
(or by a committee of the Board of Directors to the extent that any such other
committee has been authorized by the Board of Directors to establish or approve
the matters contemplated) and to be in full force and effect on the date of
such certification and delivered to the Trustee.

 

Business Day:

 

The term “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, shall mean each Monday, Tuesday,
Wednesday, Thursday and Friday which is not a day on which banking institutions
in that Place of Payment or other location are authorized or obligated by law
or executive order to close.

 

Capital Stock:

 

The term “Capital Stock” shall mean:

 

(a)           in the case of a corporation, corporate stock;

 

(b)           in the case of an association or business entity, any
and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock;

 

2

 

(c)           in the case of a partnership or limited liability
company, partnership interests (whether general or limited) or membership
interests; and

 

(d)           any other interest or participation that confers on a
Person the right to receive a share of the profits and losses of, or
distributions of assets of, the issuing Person, but excluding from all of the
foregoing any debt securities convertible into Capital Stock, whether or not
such debt securities include any right of participation with Capital Stock.

 

Code:

 

The term “Code” shall mean the Internal
Revenue Code of 1986 as in effect on the date hereof.

 

Company:

 

The term “Company” shall mean the Person
named as the “Company” in the first paragraph of this Indenture until a
successor Person shall have become such pursuant to the applicable provisions
of this Indenture, and thereafter “Company” shall mean such successor Person.

 

Company Order:

 

The term “Company Order” shall mean a written
order signed in the name of the Company by the Chairman, Chief Executive
Officer, President, Executive Vice President, Senior Vice President, Treasurer,
Assistant Treasurer, Controller, Assistant Controller, Secretary or Assistant
Secretary of the Company, and delivered to the Trustee.

 

Corporate
Trust Office:

 

The term “Corporate Trust Office,” or other
similar term, shall mean the principal office of the Trustee at which at any
particular time its corporate trust business shall be administered, which
office at the date hereof is located at 101 Barclay Street, 8W New York, New
York 10286, Attention: Corporate Trust Administration, or such other address as
the Trustee may designate from time to time by notice to the Holders and the
Company, or the principal corporate trust officer of any successor Trustee (or
such other address as such successor Trustee may designate from time to time by
notice to the Holders and the Company).

 

Currency:

 

The term “Currency” shall mean U.S. Dollars
or Foreign Currency.

 

Default:

 

The term “Default” shall have the meaning
assigned to it in Section 11.03.

 

3

 

Defaulted
Interest:

 

The term “Defaulted Interest” shall have the
same meaning assigned to it in Section 3.08(b).

 

Depositary:

 

The term “Depositary” shall mean, with
respect to the Securities of any series issuable 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”
as used with respect to the Securities of any such series shall mean the
Depositary with respect to the Securities of that series.

 

Designated
Currency:

 

The term “Designated Currency” shall have the
same meaning assigned to it in Section 3.12.

 

Discharged:

 

The term “Discharged” shall have the meaning
assigned to it in Section 12.03.

 

Event of
Default:

 

The term “Event of Default” shall have the
meaning specified in Section 7.01.

 

Exchange Act:

 

The term “Exchange Act” shall mean the Securities
Exchange Act of 1934, as amended.

 

Exchange Rate:

 

The term “Exchange Rate” shall have the
meaning assigned to it in Section 7.01.

 

Floating Rate
Security:

 

The term “Floating Rate Security” shall mean
a Security that provides for the payment of interest at a variable rate
determined periodically by reference to an interest rate index specified
pursuant to Section 3.01.

 

Foreign
Currency:

 

The term “Foreign Currency” shall mean a
currency issued by the government of any country other than the United States
or a composite currency, the value of which is determined by reference to the
values of the currencies of any group of countries and which is reasonably
acceptable to the Trustee.

 

4

 

GAAP:

 

The term “GAAP,” with respect to any
computation required or permitted hereunder, shall mean generally accepted
accounting principles in effect in the United States as in effect from time to
time, including, without limitation, those set forth in the opinions and pronouncements
of the Accounting Principles Board of the American Institute of Certified
Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board or in such other statements by such other entity as
approved by a significant segment of the accounting profession.

 

Global
Security:

 

The term “Global Security” shall mean any
Security that evidences all or part of a series of Securities, issued in
fully-registered certificated form to the Depositary for such series in accordance
with Section 3.03 and bearing the legend prescribed in Section 3.03(g).

 

Holder; Holder
of Securities:

 

The terms “Holder” and “Holder of Securities”
are defined under “Securityholder; Holder of Securities; Holder.”

 

Holding
Company Reorganization

 

The term “Holding Company Reorganization”  shall mean the merger of the Company with a
second tier merger subsidiary resulting in a first tier subsidiary holding
company becoming the new parent company and the transfer to the new parent
company of all the assets and liabilities of the Company other than those
associated with the Company’s existing Equitable Gas Company division.

 

Indebtedness:

 

The term “Indebtedness” shall mean any and
all obligations of a Person for money borrowed which, in accordance with GAAP,
would be reflected on the balance sheet of such Person as a liability on the
date as of which Indebtedness is to be determined.

 

Indenture:

 

The term “Indenture” or “this Indenture”
shall mean this instrument and all indentures supplemental hereto.

 

Interest:

 

The term “interest” shall mean, with respect
to an Original Issue Discount Security that by its terms bears interest only
after Maturity, interest payable after Maturity.

 

5

 

Interest
Payment Date:

 

The term “Interest Payment Date” shall mean,
with respect to any Security, the Stated Maturity of an installment of interest
on such Security.

 

Mandatory
Sinking Fund Payment:

 

The term “Mandatory Sinking Fund Payment”
shall have the meaning assigned to it in Section 5.01.

 

Maturity:

 

The term “Maturity,” with respect to any
Security, shall mean the date on which the principal of such Security shall
become due and payable as therein and herein provided, whether by declaration,
call for redemption or otherwise.

 

Members:

 

The term “Members” shall have the meaning
assigned to it in Section 3.03(i).

 

Officer’s Certificate:

 

The term “Officer’s Certificate” shall mean a
certificate signed by any of the Chairman of the Board of Directors, Chief
Executive Officer, the President or a Vice President, Treasurer, an Assistant
Treasurer, the Controller, the Secretary or an Assistant Secretary of the
Company and delivered to the Trustee.  Each
such certificate shall include the statements provided for in Section 16.01
if and to the extent required by the provisions of such Section.

 

Opinion of
Counsel:

 

The term “Opinion of Counsel” shall mean an
opinion in writing signed by legal counsel, who may be an employee of or of
counsel to the Company, that meets the requirements provided for in Section 16.01.

 

Optional
Sinking Fund Payment:

 

The term “Optional Sinking Fund Payment”
shall have the meaning assigned to it in Section 5.01.

 

Original Issue
Discount Security:

 

The term “Original Issue Discount Security”
shall mean any Security that is issued with “original issue discount” within
the meaning of Section 1273(a) of the Code and the regulations
thereunder and any other Security designated by the Company as issued with
original issue discount for United States federal income tax purposes.

 

6

 

Outstanding:

 

The term “Outstanding,” when used with
respect to Securities means, as of the date of determination, all Securities
theretofore authenticated and delivered under this Indenture, except:

 

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

 

(b)           Securities or portions thereof for which 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 or Securities as to which the Company’s
obligations have been Discharged; provided, however, that if such Securities or
portions thereof are to be redeemed, notice of such redemption has been duly
given pursuant to this Indenture or provision therefor satisfactory to the
Trustee has been made; and

 

(c)           Securities that have been paid pursuant to Section 3.07(b) 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 a Responsible Officer of the
Trustee proof satisfactory to it that such Securities are held by a protected
purchaser in whose hands such Securities are valid obligations of the Company;

 

provided, however, that in
determining whether the Holders of the requisite principal amount of Securities
of a series Outstanding have performed any action hereunder, Securities owned
by the Company or any other obligor upon the Securities of such series 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 action, only Securities of such series that
a Responsible Officer of the Trustee actually knows to be so owned shall be so
disregarded.  Securities so owned that 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 to act with respect to
such Securities and that the pledgee is not the Company or any other obligor
upon such Securities or any Affiliate of the Company or of such other obligor.  In determining whether the Holders of the
requisite principal amount of Outstanding Securities of a series have performed
any action hereunder, the principal amount of an Original Issue Discount
Security that shall be deemed to be Outstanding for such purpose shall be the
amount of the principal thereof that would be due and payable as of the date of
such determination upon a declaration of acceleration of the Maturity thereof
pursuant to Section 7.02 and the principal amount of a Security
denominated in a Foreign Currency that shall be deemed to be Outstanding for
such purpose shall be the amount calculated pursuant to Section 3.11(b).

 

Paying Agent:

 

The term “Paying Agent” shall have the meaning
assigned to it in Section 6.02(a).

 

7

 

Person:

 

The term “Person” shall mean an individual, a
corporation, a limited liability company, a partnership, an association, a
joint stock company, a trust, an unincorporated organization or a government or
an agency or political subdivision thereof.

 

Place of
Payment:

 

The term “Place of Payment” shall mean, when
used with respect to the Securities of any series, the place or places where
the principal of and premium, if any, and interest on the Securities of that
series are payable as specified pursuant to Section 3.01.

 

Predecessor
Security:

 

The term “Predecessor Security” shall mean,
with respect to any Security, 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 3.07 in lieu of a lost, destroyed or stolen Security shall
be deemed to evidence the same debt as the lost, destroyed or stolen Security.

 

Record Date:

 

The term “Record Date” shall mean, with
respect to any interest payable on any Security on any Interest Payment Date,
the close of business on any date specified in such Security for the payment of
interest pursuant to Section 3.01.

 

Redemption
Date:

 

The term “Redemption Date” shall mean, when
used with respect to any Security to be redeemed, in whole or in part, the date
fixed for such redemption by or pursuant to this Indenture and the terms of
such Security, which, in the case of a Floating Rate Security, unless otherwise
specified pursuant to Section 3.01, shall be an Interest Payment Date
only.

 

Redemption
Price:

 

The term “Redemption Price,” when used with
respect to any Security to be redeemed, in whole or in part, shall mean the
price at which it is to be redeemed pursuant to the terms of the Security and
this Indenture.

 

Register:

 

The term “Register” shall have the meaning
assigned to it in Section 3.05(a).

 

Registrar:

 

The term “Registrar” shall have the meaning
assigned to it in Section 3.05(a).

 

8

 

Responsible Officers:

 

The term “Responsible Officers” of the
Trustee hereunder shall mean any vice president, any assistant vice president,
any trust officer, any assistant trust officer or any other officer associated
with the corporate trust department of the Trustee customarily performing
functions similar to those performed by any of the above designated officers,
and also means, with respect to a particular corporate trust matter, any other
officer of the Trustee to whom such matter is referred because of such person’s
knowledge of and familiarity with the particular subject and who shall have
direct responsibility for the administration of this Indenture.

 

SEC:

 

The term “SEC” shall mean the U.S. Securities
and Exchange Commission, as constituted from time to time.

 

Securities Act:

 

The term “Securities Act” shall mean the
Securities Act of 1933, as amended.

 

Security:

 

The term “Security” or “Securities” shall have
the meaning stated in the recitals and shall more particularly mean one or more
of the Securities duly authenticated by the Trustee and delivered pursuant to
the provisions of this Indenture.

 

Security Custodian:

 

The term “Security Custodian” shall mean the
custodian with respect to any Global Security appointed by the Depositary, or
any successor Person thereto, and shall initially be the Paying Agent.

 

Securityholder; Holder of Securities; Holder:

 

The term “Securityholder” or “Holder of
Securities” or “Holder,” shall mean the Person in whose name Securities shall
be registered in the Register kept for that purpose hereunder.

 

Senior Indebtedness:

 

The term “Senior Indebtedness” means the
principal of (and premium, if any) and unpaid interest on (x) Indebtedness
of the Company, whether outstanding on the date hereof or thereafter created, incurred,
assumed or guaranteed, for money borrowed other than (a) any Indebtedness
of the Company which when incurred, and without respect to any election under Section 1111(b) of
the Federal Bankruptcy Code, was without recourse to the Company, (b) any
Indebtedness of the Company to any of its Subsidiaries, (c) Indebtedness
to any employee of the Company, (d) any liability for taxes, (e) Trade
Payables and (f) any Indebtedness of the Company which is expressly
subordinate in right of payment to any other Indebtedness of the Company, and (y) renewals,
extensions, modifications and refundings of any such Indebtedness.  For purposes of the foregoing and the
definition of “Senior Indebtedness,” the phrase 

 

9

 

“subordinated
in right of payment” means debt subordination only and not lien subordination,
and accordingly, (i) unsecured indebtedness shall not be deemed to be
subordinated in right of payment to secured indebtedness merely by virtue of
the fact that it is unsecured, and (ii) junior liens, second liens and
other contractual arrangements that provide for priorities among Holders of the
same or different issues of indebtedness with respect to any collateral or the
proceeds of collateral shall not constitute subordination in right of payment. This
definition may be modified or superseded by a supplemental indenture.

 

Special Record Date:

 

The term “Special Record Date” shall have the
meaning assigned to it in Section 3.08(b)(i).

 

Stated Maturity:

 

The term “Stated Maturity” when used with
respect to any Security or any installment of interest thereon, shall mean the
date specified in such Security as the fixed date on which the principal (or
any portion thereof) of or premium, if any, on such Security or such
installment of interest is due and payable.

 

Subsidiary:

 

The term “Subsidiary,” when used with respect
to any Person, shall mean:

 

(a)        any
corporation, limited liability company, 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 and after giving
effect to any voting agreement or stockholders’ agreement that effectively
transfers voting power) to vote in the election of directors, managers or
trustees of the corporation, association or other business entity is at the
time owned or controlled, directly or indirectly, by that Person or one or more
of the other Subsidiaries of that Person (or a combination thereof); and

 

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

 

Successor Company:

 

The term “Successor Company” shall have the
meaning assigned to it in Section 3.06(i).

 

Trade Payables:

 

The term “Trade Payables” means accounts
payable or any other Indebtedness or monetary obligations to trade creditors
created or assumed by the Company or any Subsidiary of the Company in the
ordinary course of business (including guarantees thereof or instruments
evidencing such liabilities).

 

10

 

Trust Indenture Act; TIA:

 

The term “Trust Indenture Act” or “TIA” shall
mean the Trust Indenture Act of 1939, as amended.

 

Trustee:

 

The term “Trustee” shall mean the Person
named as the “Trustee” in the first paragraph of this Indenture until a
successor Trustee shall have become such with respect to one or more series of
Securities 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.

 

U.S. Dollars:

 

The term “U.S. Dollars” shall mean such
currency of the United States as at the time of payment shall be legal tender
for the payment of public and private debts.

 

U.S. Government Obligations:

 

The term “U.S. Government Obligations” shall
mean (i) direct non-callable obligations of, or guaranteed by, the United
States or (ii) obligations of a Person controlled or supervised by and
acting as an agency or instrumentality of the United States, in either case,
for the payment of which guarantee or obligation the full faith and credit of
the United States is pledged.

 

United States:

 

The term “United States” shall mean the United
States of America (including the States and the District of Columbia), its
territories and its possessions and other areas subject to its jurisdiction.

 

ARTICLE II

 

FORMS OF SECURITIES

 

Section 2.01           Terms
of the Securities.

 

(a)        The
Securities of each series shall be substantially in the form set forth in a
Company Order or in one or more indentures supplemental hereto, and shall have
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 or designation and such legends or
endorsements placed thereon as the Company may deem appropriate and as are not
inconsistent with the provisions of this Indenture, or as may be required to comply
with any law or with any rule or regulation made pursuant thereto or with
any rule or regulation of any securities exchange on which any series of
the Securities may be listed or of any automated quotation system on which any
such series may be quoted, or to conform to 

 

11

 

usage, all as determined by the officers
executing such Securities as conclusively evidenced by their execution of such Securities.

 

(b)        The
terms and provisions of the Securities shall constitute, and are hereby
expressly made, a part of this Indenture, and, to the extent applicable, the
Company and the Trustee, by their execution and delivery of this Indenture
expressly agree to such terms and provisions and to be bound thereby.

 

Section 2.02           Form of
Trustee’s Certificate of Authentication.

 

(a)        Only
such of the Securities as shall bear thereon a certificate substantially in the
form of the Trustee’s certificate of authentication hereinafter recited,
executed by the Trustee by manual signature, shall be valid or become
obligatory for any purpose or entitle the Holder thereof to any right or
benefit under this Indenture.

 

(b)        Each
Security shall be dated the date of its authentication, except that any Global
Security shall be dated as of the date specified as contemplated in Section 3.01.

 

(c)        The
form of the Trustee’s certificate of authentication to be borne by the
Securities shall be substantially as follows:

 

TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

 

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

 

 

	
  Date of
  authentication:

  	
   

  	
   

  	
  THE BANK OF
  NEW YORK, as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized
  Signatory

  

 

 

Section 2.03           Form of
Trustee’s Certificate of Authentication by an Authenticating Agent.  If at any time there shall be an
Authenticating Agent appointed with respect to any series of Securities, then
the Trustee’s Certificate of Authentication by such Authenticating Agent to be
borne by Securities of each such series shall be substantially as follows:

 

TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

 

This is one of the Securities issued referred
to in the within-mentioned Indenture.

 

 

	
  Date of
  authentication:

  	
   

  	
   

  	
  THE BANK OF
  NEW YORK, as Trustee

  

 

12

 

	
   

  	
  By:

  	
  [NAME OF
  AUTHENTICATING AGENT]

  
	
   

  	
   

  	
  as
  Authenticating Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized
  Signatory

  

 

ARTICLE III

 

THE DEBT SECURITIES

 

Section 3.01           Amount
Unlimited; Issuable in Series.  The
aggregate principal amount of Securities that may be authenticated and
delivered under this Indenture is unlimited. 
The Securities may be issued in one or more series.  There shall be set forth in a Company Order
or in one or more indentures supplemental hereto, prior to the issuance of
Securities of any series:

 

(a)        the
title of the Securities of the series (which shall distinguish the Securities
of such series from the Securities of all other series, except to the extent
that additional Securities of an existing series are being issued);

 

(b)        any
limit upon the aggregate principal amount of the Securities of the series that
may be authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon transfer of, or in exchange for, or in lieu
of, other Securities of such series pursuant to Section 3.04, 3.06, 3.07,
4.06, or 14.05);

 

(c)        the
dates on which or periods during which the Securities of the series may be
issued, and the dates on, or the range of dates within, which the principal of
and premium, if any, on the Securities of such series are or may be payable or
the method by which such date or dates shall be determined or extended;

 

(d)        the
rate or rates at which the Securities of the series shall bear interest, if
any, or the method by which such rate or rates shall be determined, 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 Record Dates for the determination of Holders
to whom interest is payable on such Interest Payment Dates or the method by
which such date or dates shall be determined, the right, if any, to extend or
defer interest payments and the duration of such extension or deferral;

 

(e)       
if other than U.S. Dollars, the Currency in which Securities of the series
shall be denominated or in which payment of the principal of, premium, if any,
or interest on the Securities of the series shall be payable and any other
terms concerning such payment;

 

(f)         if
the amount of payment of principal of, premium, if any, or interest on the
Securities of the series may be determined with reference to an index, formula
or other method including, but not limited to, an index based on a Currency or
Currencies other than that in which the Securities are stated to be payable,
the manner in which such amounts shall be determined;

 

13

 

(g)        if
the principal of, premium, if any, or interest on Securities of the series are
to be payable, at the election of the Company or a Holder thereof, in a
Currency other than that in which the Securities are denominated or stated to
be payable without such election, the period or periods within which, and the
terms and conditions upon which, such election may be made and the time and the
manner of determining the exchange rate between the Currency in which the
Securities are denominated or payable without such election and the Currency in
which the Securities are to be paid if such election is made;

 

(h)        the
place or places, if any, in addition to or instead of the Corporate Trust
Office of the Trustee where the principal of, premium, if any, and interest on
Securities of the series shall be payable, and where Securities of any series may
be presented for registration of transfer, exchange or conversion, and the
place or places where notices and demands to or upon the Company in respect of
the Securities of such series may be made;

 

(i)         the
price or prices at which, the period or periods within which or the date or
dates on which, and the terms and conditions upon which Securities of the
series may be redeemed, in whole or in part, at the option of the Company, if
the Company is to have that option;

 

(j)         the
obligation or right, if any, of the Company to redeem, purchase or repay
Securities of the series pursuant to any sinking fund, amortization or
analogous provisions or at the option of a Holder thereof and the price or
prices at which, the period or periods within which or the date or dates on
which, the Currency or Currencies in which and the terms and conditions upon
which Securities of the series shall be redeemed, purchased or repaid, in whole
or in part, pursuant to such obligation;

 

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

 

(l)         if
other than the principal amount thereof, the portion of the principal amount of
the Securities of the series which shall be payable upon declaration of
acceleration of the Maturity thereof pursuant to Section 7.02;

 

(m)       whether
the Securities of the series are to be issued as Original Issue Discount
Securities and the amount of discount with which such Securities may be issued;

 

(n)        provisions,
if any, for the defeasance of Securities of the series in whole or in part and
any addition or change in the provisions related to satisfaction and discharge;

 

(o)        whether
the Securities of the series are to be issued in whole or in part in the form
of one or more Global Securities and, in such case, the Depositary for such
Global Security or Securities and the terms and conditions, if any, upon which
interests in such Global Security or Securities may be exchanged in whole or in
part for the individual Securities represented thereby;

 

(p)        the
date as of which any Global Security of the series shall be dated if other than
the original issuance of the first Security of the series to be issued;

 

14

 

(q)        the
form of the Securities of the series;

 

(r)         if
the Securities of the series are to be convertible into or exchangeable for any
securities or property of any Person (including the Company), the terms and
conditions upon which such Securities will be so convertible or exchangeable,
and any additions or changes, if any, to permit or facilitate such conversion
or exchange;

 

(s)        whether
the Securities of such series are subject to subordination and the terms of
such subordination;

 

(t)         any
restriction or condition on the transferability of the Securities of such
series;

 

(u)        any
addition or change in the provisions related to compensation and reimbursement
of the Trustee which applies to Securities of such series;

 

(v)        any
addition or change in the provisions related to supplemental indentures set
forth in Sections 14.04 and 14.02 which applies to Securities of such series;

 

(w)       provisions,
if any, granting special rights to Holders upon the occurrence of specified
events;

 

(x)        any
addition to or change in the Events of Default which applies to any Securities
of the series and any change in the right of 
the Trustee or the requisite Holders of such Securities to declare the
principal amount thereof due and payable pursuant to Section 7.02 and any
addition or change in the provisions set forth in Article VII which
applies to Securities of the series;

 

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

 

(z)        any
other terms of the Securities of such series (which terms shall not be inconsistent
with the provisions of this Indenture, except as permitted by Section 14.01).

 

All
Securities of any one series shall be substantially identical, except as to
denomination and except as may otherwise be provided herein or set forth in a
Company Order or in one or more indentures supplemental hereto.

 

Section 3.02           Denominations.
 In the absence of any specification pursuant
to Section 3.01 with respect to Securities of any series, the Securities
of such series shall be issuable only as Securities in denominations of any
integral multiple of $1,000, and shall be payable only in U.S. Dollars.

 

Section 3.03           Execution,
Authentication, Delivery and Dating.

 

(a)        The
Securities shall be executed in the name and on behalf of the Company by the
manual or facsimile signature of its Chairman of the Board of Directors, its Chief
Executive Officer, President, one of its Vice Presidents or Treasurer.  If the Person whose 

 

15

 

signature is on a Security no longer holds
that office at the time the Security is authenticated and delivered, the
Security shall nevertheless be valid.

 

(b)        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, if required pursuant to
Section 3.01, a supplemental indenture or Company Order setting forth the
terms of the Securities of a series.  The
Trustee shall thereupon authenticate and deliver such Securities without any
further action by the Company.  The
Company Order shall specify the amount of Securities to be authenticated and
the date on which the original issue of Securities is to be authenticated.

 

(c)        In
authenticating the first Securities of any series and accepting the additional
responsibilities under this Indenture in relation to such Securities the
Trustee shall receive, and (subject to Section 11.02) shall be fully
protected in relying upon an Officer’s Certificate and an Opinion of Counsel,
each prepared in accordance with Section 16.01 stating that the conditions
precedent, if any, provided for in the Indenture have been complied with.

 

(d)        The
Trustee shall have the right to decline to authenticate and deliver the
Securities under this Section 3.03 if the issue of the 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.

 

(e)        Each
Security shall be dated the date of its authentication, except as otherwise
provided pursuant to Section 3.01 with respect to the Securities of such
series.

 

(f)         Notwithstanding
the provisions of Section 3.01 and of this Section 3.03, if all of
the Securities of any series are not to be originally issued at the same time,
then the documents required to be delivered pursuant to this Section 3.03
must be delivered only once prior to the authentication and delivery of the
first Security of such series;

 

(g)        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 authenticate
and deliver one or more Global Securities that (i) shall represent an
aggregate amount equal to the aggregate principal amount of the Outstanding Securities
of such series to be represented by such Global Securities, (ii) shall be
registered, if in registered form, in the name of the Depositary for such
Global Security or Securities or the nominee of such Depositary, (iii) shall
be delivered by the Trustee to such Depositary or pursuant to such Depositary’s
instruction and (iv) shall bear a legend substantially to the following
effect:

 

“Unless and until it is exchanged in whole or
in part for the individual Securities represented hereby, this Global 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.”

 

16

 

The aggregate principal amount of each Global
Security may from time to time be increased or decreased by adjustments made on
the records of the Security Custodian, as provided in this Indenture.

 

(h)        Each
Depositary designated pursuant to Section 3.01 for a Global Security in
registered form must, at the time of its designation and at all times while it
serves as such Depositary, be a clearing agency registered under the Exchange
Act and any other applicable statute or regulation.

 

(i)         Members
of, or participants in, the Depositary (“Members”) shall have no rights under
this Indenture with respect to any Global Security held on their behalf by the
Depositary or by the Security Custodian under such Global Security, and the
Depositary may be treated by the Company, the Trustee, the Paying Agent and the
Registrar and any of their agents as the absolute owner of such Global Security
for all purposes whatsoever.  Notwithstanding
the foregoing, nothing herein shall prevent the Company, the Trustee, the
Paying Agent or the Registrar or any of their agents from giving effect to any
written certification, proxy or other authorization furnished by the Depositary
or impair, as between the Depositary and its Members, the operation of
customary practices of the Depositary governing the exercise of the rights of
an owner of a beneficial interest in any Global Security.  The Holder of a Global Security may grant
proxies and otherwise authorize any Person, including Members and Persons that
may hold interests through Members, to take any action that a Holder is
entitled to take under this Indenture or the Securities.

 

(j)         No
Security shall be entitled to any benefit under this Indenture or be valid or
obligatory for any purpose unless there appears on such Security a certificate
of authentication substantially in one of the forms provided for herein duly
executed by the Trustee or by an Authenticating Agent by manual or facsimile signature
of an authorized signatory of the Trustee, 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.

 

Section 3.04           Temporary
Securities.

 

(a)        Pending
the preparation of definitive Securities of any series, the Company may
execute, and upon Company Order the Trustee shall authenticate and deliver,
temporary Securities that are printed, lithographed, typewritten, mimeographed
or otherwise reproduced, in any authorized denomination, substantially of the
tenor of the definitive Securities in lieu of which they are issued, in
registered form and with such appropriate insertions, omissions, substitutions
and other variations as the officers executing such Securities may determine,
as conclusively evidenced by their execution of such Securities.  Any such temporary Security may be in global
form, representing all or a portion of the Outstanding Securities of such
series.  Every such temporary Security
shall be executed by the Company and shall be authenticated and delivered by
the Trustee upon the same conditions and in substantially the same manner, and
with the same effect, as the definitive Security or Securities in lieu of which
it is issued.

 

17

 

(b)        If
temporary Securities of any series are issued, the Company will cause
definitive Securities of such 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 such
temporary Securities at the office or agency of the Company in a Place of
Payment for such 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 deliver 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.

 

(c)        Upon
any exchange of a portion of a temporary Global Security for a definitive
Global Security or for the individual Securities represented thereby pursuant
to this Section 3.04 or Section 3.06, the temporary Global Security
shall be endorsed by the Trustee to reflect the reduction of the principal
amount evidenced thereby, whereupon the principal amount of such temporary
Global Security shall be reduced for all purposes by the amount so exchanged
and endorsed.

 

Section 3.05           Registrar
and Paying Agent.

 

(a)        The
Company will keep, at an office or agency to be maintained by it in a Place of
Payment where Securities may be presented for registration or presented and
surrendered for registration of transfer or of exchange, and where Securities
of any series that are convertible or exchangeable may be surrendered for
conversion or exchange, as applicable (the “Registrar”), a security register
for the registration and the registration of transfer or of exchange of the Securities
(the registers 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 “Register”), as in this Indenture provided, which Register shall at
all reasonable times be open for inspection by the Trustee.  Such Register shall be in written form or in
any other form capable of being converted into written form within a reasonable
time.  The Company may have one or more
co-Registrars; the term “Registrar” includes any co-registrar.

 

(b)        The
Company shall enter into an appropriate agency agreement with any Registrar or
co-Registrar not a party to this Indenture. 
The agreement shall implement the provisions of this Indenture that
relate to such agent.  The Company shall
notify the Trustee of the name and address of each such agent.  If the Company fails to maintain a Registrar
for any series, the Trustee shall act as such and shall be entitled to
appropriate compensation therefor pursuant to Section 11.01.  The Company or any Affiliate thereof may act
as Registrar, co-Registrar or transfer agent.

 

(c)        The
Company hereby appoints the Trustee at its Corporate Trust Office as Registrar
in connection with the Securities and this Indenture, until such time as
another Person is appointed as such.

 

18

 

Section 3.06           Transfer
and Exchange.

 

(a)                        Transfer.

 

(i)        Upon surrender for registration of
transfer of any Security of any series at the Registrar the Company shall
execute, and the Trustee or any Authenticating Agent shall authenticate and
deliver, in the name of the designated transferee, one or more new Securities
of the same series for like aggregate principal amount of any authorized denomination
or denominations.  The transfer of any
Security shall not be valid as against the Company or the Trustee unless registered
at the Registrar at the request of the Holder, or at the request of his, her or
its attorney duly authorized in writing.

 

(ii)       Notwithstanding any other provision of
this Section, unless and until it is exchanged in whole or in part for the
individual Securities represented thereby, a Global Security 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.

 

(b)                       Exchange.

 

(i)        At the option of the Holder, Securities
of any series (other than a Global Security, except as set forth below) may be
exchanged for other Securities of the same series for like aggregate principal
amount of any authorized denomination or denominations, upon surrender of the
Securities to be exchanged at the Registrar.

 

(ii)       Whenever any Securities are so
surrendered for exchange, the Company shall execute, and the Trustee shall
authenticate and deliver, the Securities that the Holder making the exchange is
entitled to receive.

 

(c)                        Exchange of Global Securities for
Individual Securities.  Except as provided
below, owners of beneficial interests in Global Securities will not be entitled
to receive individual Securities.

 

(i)        Individual Securities shall be issued to
all owners of beneficial interests in a Global Security in exchange for such
interests if: (A) 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 if at any time the Depositary
for the Securities of such series shall no longer be eligible under Section 3.03(h) and,
in each case, a successor Depositary is not appointed by the Company within 90
days of such notice, or (B) the Company executes and delivers to the
Trustee and the Registrar an Officer’s Certificate stating that such Global
Security shall be so exchangeable.

 

In connection with the exchange of an entire Global Security for
individual Securities pursuant to this subsection (c), such Global Security shall
be 

 

19

 

deemed to be surrendered to the Trustee for
cancellation, and the Company shall execute, and the Trustee, upon receipt of a
Company Order for the authentication and delivery of individual Securities of
such series, will authenticate and deliver to each beneficial owner identified
by the Depositary in exchange for its beneficial interest in such Global
Security, an equal aggregate principal amount of individual Securities of
authorized denominations.

 

(ii)   The owner of a beneficial interest in a
Global Security will be entitled to receive an individual Security in exchange
for such interest if an Event of Default has occurred and is continuing.  Upon receipt by the Security Custodian and
Registrar of instructions from the Holder of a Global Security directing the
Security Custodian and Registrar to (x) issue one or more individual
Securities in the amounts specified to the owner of a beneficial interest in
such Global Security and (y) debit or cause to be debited an equivalent
amount of beneficial interest in such Global Security, subject to the rules and
regulations of the Depositary:

 

(A)      the Security Custodian and Registrar shall
notify the Company and the Trustee of such instructions, identifying the owner
and amount of such beneficial interest in such Global Security;

 

(B)       the Company shall promptly execute and
the Trustee, upon receipt of a Company Order for the authentication and
delivery of individual Securities of such series, shall authenticate and
deliver to such beneficial owner individual Securities in an equivalent amount
to such beneficial interest in such Global Security; and

 

(C)       the Security Custodian and Registrar
shall decrease such Global Security by such amount in accordance with the
foregoing.  In the event that the
individual Securities are not issued to each such beneficial owner promptly
after the Registrar has received a request from the Holder of a Global Security
to issue such individual Securities, the Company expressly acknowledges, with
respect to the right of any Holder to pursue a remedy pursuant to Section 7.07
hereof, the right of any beneficial Holder of Securities to pursue such remedy
with respect to the portion of the Global Security that represents such
beneficial Holder’s Securities as if such individual Securities had been
issued.

 

(iii)  If specified by the Company pursuant to Section 3.01
with respect to a series of Securities, the Depositary for such series of Securities
may surrender a Global Security for such series of Securities in exchange in
whole or in part for individual Securities of such series 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,

 

20

 

 

(A)      to each Person specified by such
Depositary a new individual Security or Securities of the same series, 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
Global Security; and

 

(B)       to such Depositary a new Global Security
in a denomination equal to the difference, if any, between the principal amount
of the surrendered Global Security and the aggregate principal amount of
individual Securities delivered to Holders thereof.

 

(iv)  In any exchange provided for in clauses (i) through
(iii), the Company will execute and the Trustee will authenticate and deliver individual
Securities in registered form in authorized denominations.

 

(v)   Upon the exchange in full of a Global
Security for individual Securities, such Global Security shall be canceled by
the Trustee.  Individual Securities
issued in exchange for a Global Security pursuant to this Section shall be
registered in such names and in such authorized denominations as the Depositary
for such Global Security, 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.

 

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

 

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

 

(f)         No
service charge will be made for any registration of transfer or exchange of
Securities.  The Company may require
payment of a sum sufficient to cover any tax, assessment or other governmental
charge that may be imposed in connection with any registration of transfer or
exchange of Securities, other than those expressly provided in this Indenture
to be made at the Company’s own expense or without expense or charge to the Holders.

 

(g)        The
Company shall not be required to (i) register, transfer or exchange
Securities of any series during a period beginning at the opening of business
15 days before the day of the transmission of a notice of redemption of Securities
of such series
selected for redemption under Section 4.03 and ending at the close of
business on the day of such 

 

21

 

transmission, or (ii) register, transfer
or exchange any Security so selected for redemption in whole or in part, except
the unredeemed portion of any Security being redeemed in part.

 

(h)        Prior
to the due presentation for registration of transfer or exchange of any
Security, the Company, the Trustee, the Paying Agent, the Registrar, any
co-Registrar or any of their agents may deem and treat the Person in whose name
a Security is registered as the absolute owner of such Security (whether or not
such Security shall be overdue and notwithstanding any notation of ownership or
other writing thereon) for all purposes whatsoever, and none of the Company, the
Trustee, the Paying Agent, the Registrar, any co-Registrar or any of their
agents shall be affected by any notice to the contrary.

 

(i)         In
case a successor Company (“Successor Company”) has executed an indenture
supplemental hereto with the Trustee pursuant to Article XIV, any of the
Securities authenticated or delivered pursuant to such transaction may, from
time to time, at the request of the Successor Company, be exchanged for other
Securities executed in the name of the Successor Company with such changes in
phraseology and form as may be appropriate, but otherwise identical to the Securities
surrendered for such exchange and of like principal amount; and the Trustee,
upon Company Order of the Successor Company, shall authenticate and deliver
Securities as specified in such order for the purpose of such exchange.  If Securities shall at any time be
authenticated and delivered in any new name of a Successor Company pursuant to
this Section 3.06 in exchange or substitution for or upon registration of
transfer of any Securities, such Successor Company, at the option of the Holders
but without expense to them, shall provide for the exchange of all Securities
at the time Outstanding for Securities authenticated and delivered in such new
name.

 

(j)         Each
Holder of a Security agrees to indemnify the Company and the Trustee against
any liability that may result from the transfer, exchange or assignment of such
Holder’s Security in violation of any provision of this Indenture and/or
applicable United States federal or state securities laws.

 

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

 

(l)         Neither
the Trustee nor any agent of the Trustee shall have any responsibility for any
actions taken or not taken by the Depositary.

 

Section 3.07           Mutilated,
Destroyed, Lost and Stolen Securities.

 

(a)        If
(i) any mutilated Security is surrendered to the Trustee at its Corporate
Trust Office or (ii) the Company and the Trustee receive evidence to their
satisfaction of the destruction, loss or theft of any Security, and there is
delivered to the Company and the Trustee security or indemnity satisfactory to
them to save each of them and any Paying Agent harmless, and neither the
Company nor the Trustee receives notice that such Security has been 

 

22

 

acquired by a protected purchaser, then the
Company shall execute and upon Company Order the Trustee shall authenticate and
deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen
Security, a new Security of the same series and of like tenor, form, terms and
principal amount, bearing a number not contemporaneously outstanding, that
neither gain nor loss in interest shall result from such exchange or
substitution.

 

(b)        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 the amount due on such Security in accordance with
its terms.

 

(c)        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 respect thereto and any other expenses (including the
fees and expenses of the Trustee) connected therewith.

 

(d)        Every
new Security of any series issued pursuant to this Section 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.

 

(e)        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 3.08           Payment
of Interest; Interest Rights Preserved.

 

(a)        Interest
on any Security that is payable and is punctually paid or duly provided for on
any Interest Payment Date shall be paid to the Person in whose name such Security
(or one or more Predecessor Securities) is registered at the close of business
on the Record Date for such interest notwithstanding the cancellation of such Security
upon any transfer or exchange subsequent to the Record Date.  Payment of interest on Securities shall be
made at the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01)
or, at the option of the Company, by check mailed to the address of the Person
entitled thereto as such address shall appear in the Register or, in accordance
with arrangements satisfactory to the Trustee, by wire transfer to an account
designated by the Holder.

 

(b)        Any
interest on any Security that 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 Record Date
by virtue of his, her or its having been such a Holder, and such Defaulted
Interest may be paid by the Company, at its election in each case, as provided
in clause (i) or (ii) below:

 

(i)        The Company may elect to make payment of
any Defaulted Interest to the Persons in whose names such Securities (or their
respective Predecessor Securities) are registered at the close of business on a
special record date for the payment of such Defaulted Interest (a “Special Record
Date”), which shall be fixed in the following manner.  The Company shall notify the Trustee in 

 

23

 

writing of the amount
of Defaulted Interest proposed to be paid on each such Security and the date of
the proposed payment, and at the same time the Company shall deposit with the Trustee
an amount of money equal to the aggregate amount proposed to be paid in respect
of such Defaulted Interest or shall make arrangements satisfactory to the
Trustee for such deposit prior to the date of the proposed payment, such money
when deposited to be held in trust for the benefit of the Persons entitled to
such Defaulted Interest as in this clause provided.  Thereupon the Trustee shall fix a Special
Record Date for the payment of such Defaulted Interest which shall be not more
than 15 calendar days and not less than 10 calendar days prior to the date of
the proposed payment and not less than 10 calendar days after the receipt by
the Trustee of the notice of the proposed payment.  The Trustee shall promptly notify the Company
of such Special Record Date and, in the name and at the expense of the Company,
shall cause notice of the proposed payment of such Defaulted Interest and the
Special Record Date therefor to be mailed, first-class postage prepaid, to the Holders
of such Securities at their addresses as they appear in the Register, not less
than 10 calendar days prior to such Special Record Date.  Notice of the proposed payment of such
Defaulted Interest and the Special Record Date therefor having been mailed as
aforesaid, such Defaulted Interest shall be paid to the Persons in whose names
such Securities (or their respective Predecessor Securities) are registered at
the close of business on such Special Record Date and shall no longer be
payable pursuant to the following clause (ii).

 

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

 

(c)        Subject
to the provisions set forth herein relating to Record Dates, each Security
delivered pursuant to any provision of this Indenture in exchange or
substitution for, or upon registration of transfer of, any other Security shall
carry all the rights to interest accrued and unpaid, and to accrue, which were
carried by such other Security.

 

Section 3.09           Cancellation.  Unless otherwise specified pursuant to Section 3.01
for Securities of any series, all Securities surrendered for payment,
redemption, registration of transfer or exchange or credit against any sinking
fund or otherwise shall, if surrendered to any Person other than the Trustee,
be delivered to the Trustee for cancellation and shall be promptly canceled by
it and, if surrendered to the Trustee, 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
that 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.  The Trustee shall dispose of all canceled Securities
held by it in accordance with its then customary procedures and deliver a
certificate of such disposal to the Company upon its request therefor.  The acquisition of any Securities by the

 

24

 

Company shall
not operate as a redemption or satisfaction of the Indebtedness represented
thereby unless and until such Securities are surrendered to the Trustee for cancellation.

 

Section 3.10           Computation
of Interest.  Except as otherwise
specified pursuant to Section 3.01 for Securities of any series, interest
on the Securities of each series shall be computed on the basis of a 360-day
year of twelve 30-day months.

 

Section 3.11           Currency
of Payments in Respect of Securities.

 

(a)        Except
as otherwise specified pursuant to Section 3.01 for Securities of any
series, payment of the principal of and premium, if any, and interest on Securities
of such series will be made in U.S. Dollars.

 

(b)        For
purposes of any provision of the Indenture where the Holders of Outstanding
Securities may perform an action that requires that a specified percentage of
the Outstanding Securities of all series perform such action and for purposes
of any decision or determination by the Trustee of amounts due and unpaid for
the principal of and premium, if any, and interest on the Securities of all
series in respect of which moneys are to be disbursed ratably, the principal of
and premium, if any, and interest on the Outstanding Securities denominated in
a Foreign Currency will be the amount in U.S. Dollars based upon exchange
rates, determined as specified pursuant to Section 3.01 for Securities of
such series, as of the date for determining whether the Holders entitled to perform
such action have performed it or as of the date of such decision or determination
by the Trustee, as the case may be.

 

(c)        Any
decision or determination to be made regarding exchange rates shall be made by
an agent appointed by the Company; provided, that such agent shall accept such
appointment in writing and the terms of such appointment shall, in the opinion
of the Company at the time of such appointment, require such agent to make such
determination by a method consistent with the method provided pursuant to Section 3.01
for the making of such decision or determination.  All decisions and determinations of such
agent regarding exchange rates shall, in the absence of manifest error, be
conclusive for all purposes and irrevocably binding upon the Company, the
Trustee and all Holders of the Securities.

 

Section 3.12           Judgments.
 The Company may provide pursuant to Section 3.01
for Securities of any series that (a) the obligation, if any, of the
Company to pay the principal of, premium, if any, and interest on the
Securities of any series in a Foreign Currency or U.S. Dollars (the “Designated
Currency”) as may be specified pursuant to Section 3.01 is of the essence
and agrees that, to the fullest extent possible under applicable law, judgments
in respect of such Securities shall be given in the Designated Currency; (b) the
obligation of the Company to make payments in the Designated Currency of the principal
of and premium, if any, and interest on such Securities shall, notwithstanding
any payment in any other Currency (whether pursuant to a judgment or
otherwise), be discharged only to the extent of the amount in the Designated
Currency that the Holder receiving such payment may, in accordance with normal
banking procedures, purchase with the sum paid in such other Currency (after
any premium and cost of exchange) on the business day in the country of issue
of the Designated Currency or in the international banking community (in the
case of a composite currency) immediately following the day on which such Holder
receives such payment; (c) if the amount in the 

 

25

 

Designated Currency
that may be so purchased for any reason falls short of the amount originally
due, the Company shall pay such additional amounts as may be necessary to
compensate for such shortfall; and (d) any obligation of the Company  not discharged by such payment shall be due as
a separate and independent obligation and, until discharged as provided herein,
shall continue in full force and effect.

 

Section 3.13           CUSIP
Numbers.  The Company in issuing any
Securities may use CUSIP, ISIN or other similar numbers, if then generally in
use, and thereafter with respect to such series, the Trustee may use such
numbers in any notice of redemption or exchange with respect to such series
provided that any such notice may state that no representation is made as to
the correctness of such numbers either as printed on the Securities or as
contained in any notice of a redemption and that reliance may be placed only on
the other identification numbers printed on the Securities, and any such
redemption shall not be affected by any defect in or omission of such numbers.  The Company will promptly notify the Trustee
in writing of any change in the CUSIP, ISIN or other similar numbers.

 

ARTICLE IV

 

REDEMPTION OF SECURITIES

 

Section 4.01           Applicability
of Right of Redemption. Redemption of Securities (other than pursuant to a
sinking fund, amortization or analogous provision) permitted by the terms of
any series of Securities shall be made (except as otherwise specified pursuant
to Section 3.01 for Securities of any series) in accordance with this
Article; provided, however, that if any such terms of a series of Securities
shall conflict with any provision of this Article, the terms of such series
shall govern.

 

Section 4.02           Selection
of Securities to be Redeemed.

 

(a)        If
the Company shall at any time elect to redeem all or any portion of the
Securities of a series then Outstanding, it shall at least 30 days prior to the
Redemption Date fixed by the Company (unless a shorter period shall be
satisfactory to the Trustee) notify the Trustee of such Redemption Date and of
the principal amount of Securities to be redeemed, and thereupon the Trustee
shall select, by lot or in such other manner as the Trustee shall deem
appropriate and which may provide for the selection for redemption of a portion
of the principal amount of any Security of such series; provided that the
unredeemed portion of the principal amount of any Security shall be in an
authorized denomination (which shall not be less than the minimum authorized
denomination) for such Security.  In any case
where more than one Security of such series is registered in the same name, the
Trustee may treat the aggregate principal amount so registered as if it were
represented by one Security of such series. 
The Trustee shall, as soon as practicable, notify the Company in writing
of the Securities and portions of Securities so selected.

 

(b)        For
all purposes of this Indenture, unless the context otherwise requires, all
provisions relating to the redemption of Securities shall relate, in the case
of any Security redeemed or to be redeemed only in part, to the portion of the
principal amount of such Security that has been or is to be redeemed.  If the Company shall so direct, Securities
registered in the 

 

26

 

name of the Company, any Affiliate or any
Subsidiary thereof shall not be included in the Securities selected for
redemption.

 

Section 4.03           Notice
of Redemption.

 

(a)        Notice
of redemption shall be given by the Company or, at the Company’s request made
at least five Business Days prior to the date notice is to be given, by the
Trustee in the name and at the expense of the Company, not less than 30 nor
more than 60 days prior to the Redemption Date, to the Holders of Securities of
any series to be redeemed in whole or in part pursuant to this Article, in the
manner provided in Section 16.04.  Any
notice so given shall be conclusively presumed to have been duly given, whether
or not the Holder receives such notice.  Failure
to give such notice, or any defect in such notice to the Holder of any Security
of a series designated for redemption, in whole or in part, shall not affect
the sufficiency of any notice of redemption with respect to the Holder of any
other Security of such series.

 

(b)                       All notices of redemption shall
identify the Securities to be redeemed (including CUSIP, ISIN or other similar
numbers, if available) and shall state:

 

(i)        such election by the Company to redeem
Securities of such series pursuant to provisions contained in this Indenture or
the terms of the Securities of such series or a supplemental indenture
establishing such series, if such be the case;

(ii)       the Redemption Date;

 

(iii)      the Redemption Price;

 

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

 

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

 

(vi)     the Place or Places of Payment where such
Securities are to be surrendered for payment of the Redemption Price; and

 

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

 

Section 4.04           Deposit
of Redemption Price.  On or prior to 11:00 a.m.,
New York City time, on the Redemption Date for any Securities, 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 6.03)
an amount of money in the Currency in which such Securities are denominated
(except as provided pursuant to Section 3.01) sufficient to pay the
Redemption Price of such Securities or any portions thereof that are to be
redeemed on that date.

 

27

 

Section 4.05           Securities
Payable on Redemption Date.  Notice
of redemption having been given as aforesaid, any Securities so to be redeemed shall,
on the Redemption Date, become due and payable at the Redemption Price and from
and after such date (unless the Company shall Default in the payment of the
Redemption Price) 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; provided, however, that (unless otherwise
provided pursuant to Section 3.01) installments of interest that have a Stated
Maturity on or prior to the Redemption Date for such Securities shall be payable
according to the terms of such Securities and the provisions of Section 3.08.

 

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

 

Section 4.06           Securities
Redeemed in Part.  Any Security that
is to be redeemed only in part shall be surrendered at the Corporate Trust
Office or such other office or agency of the Company as is specified pursuant
to Section 3.01 with, if the Company, the Registrar or the Trustee so
requires, due endorsement by, or a written instrument of transfer in form
satisfactory to the Company, the Registrar and the Trustee duly executed by the
Holder thereof or his, her or its 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, of like tenor and form, 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;
except that if a Global Security is so surrendered, the Company shall execute,
and the Trustee shall authenticate and deliver to the Depositary for such
Global Security, without service charge, a new Global Security in a
denomination equal to and in exchange for the unredeemed portion of the
principal of the Global Security so surrendered.  In the case of a Security providing
appropriate space for such notation, at the option of the Holder thereof, the
Trustee, in lieu of delivering a new Security or Securities as aforesaid, may
make a notation on such Security of the payment of the redeemed portion
thereof.

 

ARTICLE V

 

SINKING FUNDS

 

Section 5.01           Applicability
of Sinking Fund.

 

(a)        Redemption
of Securities permitted or required pursuant to a sinking fund for the
retirement of Securities of a series by the terms of such series of Securities
shall be made in accordance with such terms of such series of Securities and
this Article, except as otherwise specified pursuant to Section 3.01 for
Securities of such series, provided, however, that if any such terms of a
series of Securities shall conflict with any provision of this Article, the
terms of such series shall govern.

 

(b)        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,” 

 

28

 

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 Mandatory Sinking Fund Payment may be
subject to reduction as provided in Section 5.02.

 

Section 5.02           Mandatory
Sinking Fund Obligation.  The Company
may, at its option, satisfy any Mandatory Sinking Fund Payment obligation, in
whole or in part, with respect to a particular series of Securities by (a) delivering
to the Trustee Securities of such series in transferable form theretofore
purchased or otherwise acquired by the Company or redeemed at the election of
the Company pursuant to Section 4.03 or (b) receiving credit for
Securities of such series (not previously so credited) acquired by the Company
and theretofore delivered to the Trustee. 
The Trustee shall credit such Mandatory Sinking Fund Payment obligation with
an amount equal to the Redemption Price specified in such Securities for redemption
through operation of the sinking fund and the amount of such Mandatory Sinking
Fund Payment shall be reduced accordingly. 
If the Company shall elect to so satisfy any Mandatory Sinking Fund
Payment obligation, it shall deliver to the Trustee not less than 45 days prior
to the relevant sinking fund payment date a written notice signed on behalf of
the Company by its Chairman of the Board of Directors, its President, one of
its Vice Presidents, its Treasurer or one of its Assistant Treasurers, which
shall designate the Securities (and portions thereof, if any) so delivered or
credited and which shall be accompanied by such Securities (to the extent not
theretofore delivered) in transferable form. 
In case of the failure of the Company, at or before the time so
required, to give such notice and deliver such Securities the Mandatory Sinking
Fund Payment obligation shall be paid entirely in moneys.

 

Section 5.03           Optional
Redemption at Sinking Fund Redemption Price.  In addition to the sinking fund requirements
of Section 5.02, to the extent, if any, provided for by the terms of a
particular series of Securities, the Company may, at its option, make an
Optional Sinking Fund Payment with respect to such Securities.  Unless otherwise provided by such terms, (a) to
the extent that the right of the Company to make such Optional Sinking Fund
Payment shall not be exercised in any year, it shall not be cumulative or
carried forward to any subsequent year, and (b) such optional payment
shall operate to reduce the amount of any Mandatory Sinking Fund Payment
obligation as to Securities of the same series. 
If the Company intends to exercise its right to make such optional payment
in any year it shall deliver to the Trustee not less than 45 days prior to the
relevant sinking fund payment date a certificate signed by its Chairman of the
Board of Directors, its President, one of its Vice Presidents, its Treasurer or
one of its Assistant Treasurers stating that the Company will exercise such
optional right, and specifying the amount which the Company will pay on or
before the next succeeding sinking fund payment date.  Such certificate shall also state that no
Event of Default has occurred and is continuing.

 

Section 5.04           Application
of Sinking Fund Payment.

 

(a)        If
the sinking fund payment or payments made in funds pursuant to either Section 5.02
or 5.03 with respect to a particular series of Securities plus any unused
balance of any preceding sinking fund payments made in funds with respect to
such series shall exceed $100,000 (or a lesser sum if the Company shall so
request, or such equivalent sum for Securities denominated other than in U.S.
Dollars), it shall be applied by the Trustee on the sinking fund payment date
next following the date of such payment, unless the date of such 

 

29

 

payment shall be a sinking fund payment date,
in which case such payment shall be applied on such sinking fund payment date,
to the redemption of Securities of such series at the redemption price
specified pursuant to Section 4.03(b). 
The Trustee shall select, in the manner provided in Section 4.02,
for redemption on such sinking fund payment date, a sufficient principal amount
of Securities of such series to absorb said funds, as nearly as may be, and
shall, at the expense and in the name of the Company, thereupon cause notice of
redemption of the Securities to be given in substantially the manner provided
in Section 4.03(a) for the redemption of Securities in part at the
option of the Company, except that the notice of redemption shall also state
that the Securities are being redeemed for the sinking fund.  Any sinking fund moneys not so applied by the
Trustee to the redemption of Securities of such series shall be added to the next
sinking fund payment received in funds by the Trustee and, together with such
payment, shall be applied in accordance with the provisions of this Section 5.04.  Any and all sinking fund moneys held by the
Trustee on the last sinking fund payment date with respect to Securities of
such series, and not held for the payment or redemption of particular
Securities of such series, shall be applied by the Trustee to the payment of
the principal of the Securities of such series at Maturity.

 

(b)        On
or prior to each sinking fund payment date, the Company shall pay to the
Trustee a sum equal to all interest accrued to but not including the date fixed
for redemption on Securities to be redeemed on such sinking fund payment date pursuant
to this Section 5.04.

 

(c)        The
Trustee shall not redeem any Securities of a series with sinking fund moneys or
mail any notice of redemption of Securities of such series by operation of the
sinking fund during the continuance of a Default in payment of interest on any
Securities of such series or of any Event of Default (other than an Event of
Default occurring as a consequence of this paragraph) of which the Trustee has
actual knowledge, except that if the notice of redemption of any Securities of
such series shall theretofore have been mailed in accordance with the
provisions hereof, the Trustee shall redeem such Securities if funds sufficient
for that purpose shall be deposited with the Trustee in accordance with the
terms of this Article.  Except as
aforesaid, any moneys in the sinking fund at the time any such Default or Event
of Default shall occur and any moneys thereafter paid into the sinking fund
shall, during the continuance of such Default or Event of Default, be held as
security for the payment of all the Securities of such series; provided,
however, that in case such Default or Event of Default shall have been cured or
waived as provided herein, such moneys shall thereafter be applied on the next
sinking fund payment date on which such moneys are required to be applied
pursuant to the provisions of this Section 5.04.

 

ARTICLE VI

 

PARTICULAR COVENANTS OF THE COMPANY

 

The Company hereby covenants and agrees as
follows:

 

Section 6.01           Payments
of Securities.  The Company will duly
and punctually pay the principal of and premium, if any, on each series of Securities,
and the interest which shall have accrued thereon, at the dates and place and
in the manner provided in the Securities and in this Indenture.

 

30

 

Section 6.02           Paying
Agent.

 

(a)        The
Company will maintain in each Place of Payment for any series of Securities, if
any, an office or agency where Securities may be presented or surrendered for
payment, where Securities of such series may be surrendered for registration of
transfer or exchange and where notices and demands to or upon the Company in
respect of the Securities and this Indenture may be served (the “Paying Agent”).  The Company will give prompt written notice
to the Trustee of the location, and any change in the location, of such office
or agency.  If at any time the Company
shall fail to maintain any such required office or agency or shall fail to
furnish the Trustee with the address thereof, such presentations, surrenders,
notices and demands may be made or served at the Corporate Trust Office of the
Trustee, and the Company hereby appoints the Trustee as Paying Agent to receive
all presentations, surrenders, notices and demands.

 

(b)        The
Company may also from time to time designate different or additional offices or
agencies where the Securities of any series may be presented or surrendered for
any or all such purposes (in or outside of such Place of Payment), and may from
time to time rescind any such designations; provided, however, that no such
designation or rescission shall in any manner relieve the Company of its
obligations described in the preceding paragraph.  The Company will give prompt written notice
to the Trustee of any such additional designation or rescission of designation
and of any change in the location of any such different or additional office or
agency.  The Company shall enter into an
appropriate agency agreement with any Paying Agent not a party to this Indenture.  The agreement shall implement the provisions of
this Indenture that relate to such agent. 
The Company shall notify the Trustee of the name and address of each
such agent.  The Company or any Affiliate
thereof may act as Paying Agent.

 

Section 6.03           To
Hold Payment in Trust.

 

(a)        If
the Company or an Affiliate thereof shall at any time act as Paying Agent with
respect to any series of Securities, then, on or before the date on which the
principal of and premium, if any, or interest on any of the Securities of that
series by their terms or as a result of the calling thereof for redemption
shall become payable, the Company or such Affiliate will segregate and hold in
trust for the benefit of the Holders of such Securities or the Trustee a sum
sufficient to pay such principal and premium, if any, or interest which shall
have so become payable until such sums shall be paid to such Holders or
otherwise disposed of as herein provided, and will notify the Trustee of its
action or failure to act in that regard. 
Upon any proceeding under any federal bankruptcy laws with respect to
the Company or any Affiliate thereof, if the Company or such Affiliate is then
acting as Paying Agent, the Trustee shall replace the Company or such Affiliate
as Paying Agent.

 

(b)        If
the Company shall appoint, and at the time have, a Paying Agent for the payment
of the principal of and premium, if any, or interest on any series of
Securities, then prior to 11:00 a.m., New York City time, on the date on
which the principal of and premium, if any, or interest on any of the
Securities of that series shall become payable as aforesaid, whether by their
terms or as a result of the calling thereof for redemption, the Company will
deposit with such Paying Agent a sum sufficient to pay such principal and premium,
if any, or interest, such sum to be held in trust for the benefit of the Holders
of such Securities or the Trustee, and (unless

 

31

 

such Paying Agent is the Trustee), the
Company or any other obligor of such Securities will promptly notify the
Trustee of its payment or failure to make such payment.

 

(c)                        If the Paying Agent shall be other
than the Trustee, the Company will cause such Paying Agent 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 6.03, that
such Paying Agent shall:

 

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

 

(ii)       give to 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 the principal of and premium, if any, or interest on the
Securities of that series; and

 

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

 

(d)                       Anything in this Section 6.03
to the contrary notwithstanding, the Company may at any time, for the purpose
of obtaining a release, satisfaction or discharge of this Indenture or for any
other reason, pay or cause to be paid to the Trustee all sums held in trust by the
Company or by any Paying Agent other than the Trustee as required by this Section 6.03,
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.

 

(e)                        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 two years after such principal and premium, if any,
or interest has become due and payable shall be paid to the Company upon Company
Order along with any interest that has accumulated thereon as a result of such
money being invested at the direction of the Company, 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 of such amounts without interest thereon, 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 or 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 The City of 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.

 

32

 

Section 6.04           Merger,
Consolidation and Sale of Assets.  Except
as otherwise provided as contemplated by Section 3.01 with respect to any
series of Securities:

 

(a)        The
Company will not consolidate with any other entity or accept a merger of any
other entity into the Company or permit the Company to be merged into any other
entity, or sell other than for cash or lease its assets substantially as an
entirety to another entity, or purchase the assets of another entity
substantially as an entirety, unless (i) either the Company shall be the
continuing entity, or the successor, transferee or lessee entity (if other than
the Company) shall expressly assume, by indenture supplemental hereto, executed
and delivered by such entity prior to or simultaneously with such
consolidation, merger, sale or lease, the due and punctual payment of the
principal of and interest and premium, if any, on all the Securities, according
to their tenor, and the due and punctual performance and observance of all
other obligations to the Holders and the Trustee under this Indenture or under
the Securities to be performed or observed by the Company; and (ii) immediately
after such consolidation, merger, sale, lease or purchase the Company or the
successor, transferee or lessee entity (if other than the Company) would not be
in Default in the performance of any covenant or condition of this Indenture.  A purchase by a Subsidiary of the assets of
another entity substantially as an entirety shall not be deemed to be a purchase
of such assets by the Company.

 

(b)        Upon
any consolidation with or merger into any other entity, or any sale other than
for cash, or any conveyance or lease of the assets of the Company substantially
as an entirety in accordance with this Section 6.04, the successor entity
formed by such consolidation or into or with which the Company is merged or to
which the Company is sold or to which such conveyance, transfer or lease 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 entity had been named as the Company herein, and thereafter, except
in the case of a lease, the predecessor Company shall be relieved of all
obligations and covenants under this Indenture and the Securities, and from
time to time such entity may exercise each and every right and power of the
Company under this Indenture, in the name of the Company, or in its own name;
and any act or proceeding by any provision of this Indenture required or
permitted to be done by the Board of Directors or any officer of the Company
may be done with like force and effect by the like board or officer of any
entity that shall at the time be the successor of the Company hereunder.  In the event of any such sale or conveyance,
but not any such lease, the Company (or any successor entity which shall
theretofore have become such in the manner described in this Section 6.04)
shall be discharged from all obligations and covenants under this Indenture and
the Securities and may thereupon be dissolved and liquidated.

 

(c)        For
purposes of this Section 6.04, the transfer by the Company of all of its
assets, other than certain assets associated with the Company’s gas company division,
to a newly formed holding company in connection with the Holding Company Reorganization
shall be deemed to be a conveyance of the assets of the Company substantially
as an entirety to the newly formed holding company.

 

Section 6.05           Compliance
Certificate.  Except as otherwise
provided as contemplated by Section 3.01 with respect to any series of
Securities, the Company shall furnish to the Trustee annually, within 120 days
after the end of each fiscal year, a brief certificate from the principal
executive officer, principal financial officer, principal accounting officer or
vice president and 

 

33

 

treasurer as
to his or her knowledge of the Company’s compliance with all conditions and
covenants under this Indenture (which compliance shall be determined without
regard to any period of grace or requirement of notice provided under this
Indenture) and, in the event of any Default, specifying each such Default and
the nature and status thereof of which such person may have knowledge.  Such certificates need not comply with Section 16.01
of this Indenture.

 

Section 6.06           Conditional
Waiver by Holders of Securities.  Anything
in this Indenture to the contrary notwithstanding, the Company may fail or omit
in any particular instance to comply with a covenant or condition set forth
herein with respect to any series of Securities if the Company shall have
obtained and filed with the Trustee, prior to the time of such failure or
omission, evidence (as provided in Article VIII) of the consent of the Holders
of a majority in aggregate principal amount of the Securities of such series at
the time Outstanding, either waiving such compliance in such instance or
generally waiving compliance with such covenant or condition, but no such
waiver shall extend to or affect such covenant or condition except to the extent
so expressly waived, or impair any right consequent thereon and, until such
waiver shall have become effective, the obligations of the Company and the
duties of the Trustee in respect of any such covenant or condition shall remain
in full force and effect.

 

Section 6.07           Statement
by Officers as to Default.  The
Company shall deliver to the Trustee as soon as possible and in any event within
30 days after the Company becomes aware of the occurrence of any Event of
Default or an event which, with the giving of notice or the lapse of time or both,
would constitute an Event of Default, an Officer’s Certificate setting forth
the details of such Event of Default or Default and the action which the Company
proposes to take with respect thereto.

 

ARTICLE VII

 

REMEDIES OF TRUSTEE AND SECURITYHOLDERS

 

Section 7.01           Events
of Default.  Except where otherwise
indicated by the context or where the term is otherwise defined for a specific
purpose, the term “Event of Default” as used in this Indenture with respect to
Securities of any series shall mean one of the following described events
unless it is either inapplicable to a particular series or it is specifically
deleted or modified in the manner contemplated in Section 3.01:

 

(a)        the
failure of the Company to pay any installment of interest on any Security of
such series when and as the same shall become payable, which failure shall have
continued unremedied for a period of 30 days;

 

(b)        the
failure of the Company to pay the principal of (and premium, if any, on) any
Security of such series, when and as the same shall become payable, whether at Maturity
as therein expressed, by call for redemption (otherwise than pursuant to a sinking
fund), by declaration as authorized by this Indenture or otherwise;

 

(c)        the
failure of the Company to pay a sinking fund installment, if any, when and as
the same shall become payable by the terms of a Security of such series, which
failure shall have continued unremedied for a period of 30 days;

 

34

 

(d)        the
failure of the Company, subject to the provisions of Section 6.06, to
perform any covenants or agreements contained in this Indenture (including any
indenture supplemental hereto pursuant to which the Securities of such series
were issued as contemplated by Section 3.01) (other than a covenant or
agreement which has been expressly included in this Indenture solely for the
benefit of a series of Securities other than that series and other than a
covenant or agreement a default in the performance of which is elsewhere in
this Section 7.01 specifically addressed), which failure shall not have
been remedied, or without provision deemed to be adequate for the remedying
thereof having been made, for a period of 90 days after written notice shall have
been given to the Company by the Trustee or shall have been given to the
Company and the Trustee by Holders of 25% or more in aggregate principal amount
of the Securities of such series then Outstanding, specifying such failure, requiring
the Company to remedy the same and stating that such notice is a “Notice of
Default” hereunder;

 

(e)        the
entry by a court having jurisdiction in the premises of a decree or order for
relief in respect of the Company in an involuntary case under the federal
bankruptcy laws, as now or hereafter constituted, or any other applicable
federal or state bankruptcy, insolvency or other similar law now or hereafter
in effect, or appointing a receiver, liquidator, assignee, custodian, trustee
or sequestrator (or similar official) of the Company or of substantially all
the property of the Company or ordering the winding-up or liquidation of its affairs
and such decree or order shall remain unstayed and in effect for a period of 90
consecutive days;

 

(f)         the
commencement by the Company of a voluntary case under the federal bankruptcy
laws, as now or hereafter constituted, or any other applicable federal or state
bankruptcy, insolvency or other similar law now or hereafter in effect, or the
consent by the Company to the entry of an order for relief in an involuntary
case under any such law, or the consent by the Company to the appointment of or
taking possession by a receiver, liquidator, assignee, trustee, custodian or sequestrator
(or similar official) of the Company or of substantially all the property of
the Company or the making by it of an assignment for the benefit of creditors
or the admission by it in writing of its inability to pay its debts generally
as they become due, or the taking of corporate action by the Company in furtherance
of any action; or

 

(g)        the
occurrence of any other Event of Default with respect to Securities of such
series as provided in Section 3.01;

 

provided, however, that no
event described in clause (d) or, with respect to any Event of Default in
addition to those provided above pursuant to Section 3.01 (other than with
respect to a payment default), (g) above shall constitute an Event of
Default hereunder until a Responsible Officer assigned to and working in the
Trustee’s corporate trust department has actual knowledge thereof or until a
written notice of any such event is received by the Trustee at the Corporate
Trust Office, and such notice refers to the facts underlying such event, the
Securities generally, the Company and the Indenture.

 

Notwithstanding the foregoing provisions of
this Section 7.01, if the principal or any premium or interest on any
Security is payable in a Currency other than the Currency of the United States
and such Currency is not available to the Company for making payment thereof due
to the imposition of exchange controls or other circumstances beyond the
control of the

 

35

 

Company, the
Company will be entitled to satisfy its obligations to Holders of the
Securities by making such payment in the Currency of the United States in an
amount equal to the Currency of the United States equivalent of the amount
payable in such other Currency, as determined by the Company by reference to
the noon buying rate in The City of New York for cable transfers for such
Currency (“Exchange Rate”), as such Exchange Rate is reported or otherwise made
available by the Federal Reserve Bank of New York on the date of such payment,
or, if such rate is not then available, on the basis of the most recently available
Exchange Rate. Notwithstanding the foregoing provisions of this Section 7.01,
any payment made under such circumstances in the Currency of the United States
where the required payment is in a Currency other than the Currency of the
United States will not constitute an Event of Default under this Indenture.

 

Section 7.02           Acceleration;
Rescission and Annulment.

 

(a)        Except
as otherwise provided as contemplated by Section 3.01 with respect to any
series of Securities, if any one or more of the above-described Events of
Default (other than an Event of Default specified in Section 7.01(e) or
7.01(f)) shall happen with respect to Securities of any series at the time
Outstanding, then, and in each and every such case, during the continuance of
any such Event of Default, the Trustee or the Holders of 25% or more in
principal amount of the Securities of such series then Outstanding may declare the
principal (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) of and all accrued but unpaid interest on all the Securities of such
series then Outstanding to be due and payable immediately by a notice in
writing to the Company (and to the Trustee if given by Holders), and upon any
such declaration such principal amount (or specified amount) shall become
immediately due and payable.  If an Event
of Default specified in Section 7.01(e) or 7.01(f) occurs and is
continuing, then in every such case, the principal amount of all of the
Securities of that series then Outstanding shall automatically, and without any
declaration or any other action on the part of the Trustee or any Holder,
become due and payable immediately.  Upon
payment of such amounts in the Currency in which such Securities are
denominated (subject to Section 7.01 and except as otherwise provided
pursuant to Section 3.01), all obligations of the Company in respect of
the payment of principal of and interest on the Securities of such series shall
terminate.

 

(b)        The
provisions of Section 7.02(a), however, are subject to the condition that,
at any time after the principal of all the Securities of such series, to which
any one or more of the above-described Events of Default is applicable, shall
have been so declared to be due and payable, and before a judgment or decree
for payment of the money due has been obtained by the Trustee as hereinafter provided
in this Article, the Event of Default giving rise to such declaration of
acceleration shall, without further act, be deemed to have been waived, and
such declaration and its consequences shall, without further act, be deemed to
have been rescinded and annulled, if:

 

(i)    the Company has paid or deposited with the Trustee
or Paying Agent a sum in the Currency in which such Securities are denominated
(subject to Section 7.01 and except as otherwise provided pursuant to Section 3.01)
sufficient to pay

 

36

 

(A)      all amounts owing the Trustee and any
predecessor trustee hereunder under Section 11.01(a) (provided,
however, that all sums payable under this clause (A) shall be paid in U.S.
Dollars);

 

(B)       all arrears of interest, if any, upon all
the Securities of such series (with interest, to the extent that interest thereon
shall be legally enforceable, on any overdue installment of interest at the
rate borne by such Securities at the rate or rates prescribed therefor in such
Securities); and

 

(C)       the principal of and premium, if any, on
any Securities of such series that have become due otherwise than by such
declaration of acceleration and interest thereon;

 

(ii)   every other Default and Event of Default with
respect to Securities of that series, other than the non-payment of the
principal of Securities of that series which have become due solely by such
declaration of acceleration, have been cured or waived as provided in Section 7.06.

 

(c)        No
such rescission shall affect any subsequent default or impair any right
consequent thereon.

 

(d)        For
all purposes under this Indenture, if a portion of the principal of any Original
Issue Discount Securities shall have been accelerated and declared due and
payable pursuant to the provisions hereof, then, from and after such declaration,
unless such declaration has been rescinded and annulled, the principal amount
of such Original Issue Discount Securities shall be deemed, for all purposes hereunder,
to be such portion of the principal thereof as shall be due and payable as a
result of such acceleration, and payment of such portion of the principal
thereof as shall be due and payable as a result of such acceleration, together
with interest, if any, thereon and all other amounts owing thereunder, shall
constitute payment in full of such Original Issue Discount Securities.

 

Section 7.03           Other
Remedies.  If the Company shall fail
for a period of 30 days to pay any installment of interest on the Securities of
any series or shall fail to pay the principal of and premium, if any, on any of
the Securities of such series when and as the same shall become due and payable,
whether at Maturity, or by call for redemption (other than pursuant to the
sinking fund), by declaration as authorized by this Indenture, or otherwise, or
shall fail for a period of 30 days to make any required sinking fund payment as
to a series of Securities, then, upon demand of the Trustee, the Company will
pay to the Paying Agent for the benefit of the Holders of Securities of such
series then Outstanding the whole amount which then shall have become due and
payable on all the Securities of such series, with interest on the overdue
principal and premium, if any, and (so far as the same may be legally
enforceable) on the overdue installments of interest at the rate borne by the
Securities of such series, and all amounts owing the Trustee and any
predecessor trustee hereunder under Section 11.01(a).

 

37

 

In case the Company shall fail forthwith to
pay such amounts upon such demand, the Trustee, in its own name and as trustee
of an express trust, shall be entitled and empowered to institute any action or
proceeding at law or in equity for the collection of the sums so due and
unpaid, and may prosecute any such action or proceeding to judgment or final
decree, and may enforce any such judgment or final decree against the Company
or any other obligor upon the Securities of such series, and collect the moneys
adjudged or decreed to be payable out of the property of the Company or any
other obligor upon the Securities of such series, wherever situated, in the
manner provided by law.  Every recovery
of judgment in any such action or other proceeding, subject to the payment to
the Trustee of all amounts owing the Trustee and any predecessor trustee
hereunder under Section 11.01(a), shall be for the ratable benefit of the Holders
of such series of Securities which shall be the subject of such action or
proceeding.  All rights of action upon or
under any of the Securities or this Indenture may be enforced by the Trustee
without the possession of any of the Securities and without the production of
any thereof at any trial or any proceeding relative thereto.

 

Section 7.04           Trustee
as Attorney-in-Fact.  The Trustee is
hereby appointed, and each and every Holder of the Securities, by receiving and
holding the same, shall be conclusively deemed to have appointed the Trustee,
the true and lawful attorney-in-fact of such Holder, with authority to make or
file (whether or not the Company shall be in Default in respect of the payment
of the principal of, or interest on, any of the Securities), in its own name
and as trustee of an express trust or otherwise as it shall deem advisable, in
any receivership, insolvency, liquidation, bankruptcy, reorganization or other judicial
proceeding relative to the Company or any other obligor upon the Securities or
to their respective creditors or property, any and all claims, proofs of claim,
proofs of debt, petitions, consents, other papers and documents and amendments
of any thereof, as may be necessary or advisable in order to have the claims of
the Trustee and any predecessor trustee hereunder and of the Holders of the
Securities allowed in any such proceeding and to collect and receive any moneys
or other property payable or deliverable on any such claim, and to execute and
deliver any and all other papers and documents and to do and perform any and
all other acts and things, as it may deem necessary or advisable in order to
enforce in any such proceeding any of the claims of the Trustee and any
predecessor trustee hereunder and of any of such Holders in respect of any of
the Securities; and any receiver, assignee, trustee, custodian or debtor in any
such proceeding is hereby authorized, and each and every taker or Holder of the
Securities, by receiving and holding the same, shall be conclusively deemed to
have authorized any such receiver, assignee, trustee, custodian or debtor, to make
any such payment or delivery only to or on the order of the Trustee, and to pay
to the Trustee any amount due it and any predecessor trustee hereunder under Section 11.01(a);
provided, however, that nothing herein contained shall be deemed to authorize
or empower the Trustee to consent to or accept or adopt, on behalf of any Holder
of Securities, any plan of reorganization or readjustment affecting the
Securities or the rights of any Holder thereof, or to authorize or empower the
Trustee to vote in respect of the claim of any Holder of any Securities in any
such proceeding.

 

Section 7.05           Priorities.
 Any moneys or properties collected by
the Trustee with respect to a series of Securities under this Article VII shall
be applied in the order following, at the date or dates fixed by the Trustee
for the distribution of such moneys or properties and, in the case of the
distribution of such moneys or properties on account of the Securities of any
series, upon 

 

38

 

presentation
of the Securities of such series, and stamping thereon the payment, if only
partially paid, and upon surrender thereof, if fully paid:

 

First: To the payment of all amounts due to
the Trustee and any predecessor trustee hereunder under Section 11.01(a).

 

Second: In case the principal of the
Outstanding Securities of such series shall not have become due and be unpaid,
to the payment of interest on the Securities of such series, in the chronological
order of the Maturity of the installments of such interest, with interest (to
the extent that such interest has been collected by the Trustee) upon the
overdue installments of interest at the rate borne by such Securities, such payments
to be made ratably to the Persons entitled thereto.

 

Third: In case the principal of the
Outstanding Securities of such series shall have become due, by declaration or
otherwise, to the payment of the whole amount then owing and unpaid upon the
Securities of such series for principal and premium, if any, and interest, with
interest on the overdue principal and premium, if any, and (to the extent that
such interest has been collected by the Trustee) upon overdue installments of interest
at the rate borne by the Securities of such series, and in case such moneys
shall be insufficient to pay in full the whole amounts so due and unpaid upon
the Securities of such series, then to the payment of such principal and
premium, if any, and interest without preference or priority of principal and
premium, if any, over interest, or of interest over principal and premium, if
any, or of any installment of interest over any other installment of interest,
or of any Security of such series over any other Security of such series,
ratably to the aggregate of such principal and premium, if any, and accrued and
unpaid interest.

 

Any surplus then remaining shall
be paid to the Company or as directed by a court of competent jurisdiction.

 

Section 7.06           Control
by Securityholders; Waiver of Past Defaults.  The Holders of a majority in principal amount of
the Securities of any series at the time Outstanding may direct the time,
method and place of conducting any proceeding for any remedy available to the
Trustee hereunder, or of exercising any trust or power hereby conferred upon
the Trustee with respect to the Securities of such series, provided, however,
that, subject to the provisions of Sections 11.01 and 11.02, the Trustee shall
have the right to decline to follow any such direction if the Trustee being
advised by counsel determines that the action so directed may not lawfully be
taken or would be unduly prejudicial to Holders not joining in such direction
or would involve the Trustee in personal liability.  Prior to any declaration accelerating the
Maturity of the Securities of any series, the Holders of a majority in
aggregate principal amount of such series of Securities at the time Outstanding
may on behalf of the Holders of all of the Securities of such series waive any
past Default or Event of Default hereunder and its consequences except a Default
in the payment of interest or any premium on or the principal of the Securities
of such series.  Upon any such waiver the
Company, the Trustee and the Holders of the Securities of such series shall be
restored to their former positions and rights hereunder, respectively; but no
such waiver shall extend to any subsequent or other Default or Event of Default
or impair any right consequent thereon.  Whenever
any Default or Event of Default hereunder shall have been waived as

 

39

 

permitted by
this Section 7.06, said Default or Event of Default shall for all purposes
of the Securities of such series and this Indenture be deemed to have been
cured and to be not continuing.

 

Section 7.07           Limitation
on Suits.  No Holder of any Security
of any series shall have any right to institute any action, suit or proceeding
at law or in equity for the execution of any trust hereunder or for the
appointment of a receiver or for any other remedy hereunder, in each case with
respect to an Event of Default with respect to such series of Securities,
unless such Holder previously shall have given to the Trustee written notice of
one or more of the Events of Default herein specified with respect to such series
of Securities, and unless also the Holders of 25% in principal amount of the
Securities of such series then Outstanding shall have requested the Trustee in
writing to take action in respect of the matter complained of, and unless also
there shall have been offered to the Trustee security and indemnity
satisfactory to it against the costs, expenses and liabilities to be incurred
therein or thereby, and the Trustee, for 60 days after receipt of such
notification, request and offer of indemnity, shall have neglected or refused
to institute any such action, suit or proceeding; and such notification,
request and offer of indemnity are hereby declared in every such case to be
conditions precedent to any such action, suit or proceeding by any Holder of
any Security of such series; it being understood and intended that no one or
more of the Holders of Securities of such series shall have any right in any
manner whatsoever by his, her, its or their action to enforce any right
hereunder, except in the manner herein provided, and that every action, suit or
proceeding at law or in equity shall be instituted, had and maintained in the
manner herein provided and for the equal benefit of all Holders of the
Outstanding Securities of such series; provided, however, that nothing in this
Indenture or in the Securities of such series shall affect or impair the
obligation of the Company, which is absolute and unconditional, to pay the
principal of, premium, if any, and interest on the Securities of such series to
the respective Holders of such Securities at the respective due dates in such
Securities stated, or affect or impair the right, which is also absolute and
unconditional, of such Holders to institute suit to enforce the payment thereof.

 

Section 7.08           Undertaking
for Costs.  All parties to this Indenture
and each Holder of any Security, by such Holder’s acceptance thereof, shall be deemed
to have agreed that any court may in its discretion require, in any action,
suit or proceeding for the enforcement of any right or remedy under this Indenture,
or in any action, suit or proceeding against the Trustee for any action taken
or omitted by it as Trustee, the filing by any party litigant in such action,
suit or proceeding of an undertaking to pay the costs of such action, suit or
proceeding, and that such court may in its discretion assess reasonable costs,
including reasonable attorneys’ fees and expenses, against any party litigant
in such action, suit or proceeding, having due regard to the merits and good
faith of the claims or defenses made by such party litigant; provided, however,
that the provisions of this Section 7.08 shall not apply to any action, suit
or proceeding instituted by the Trustee, to any action, suit or proceeding instituted
by any one or more Holders of Securities holding in the aggregate more than 10%
in principal amount of the Securities of any series Outstanding, or to any
action, suit or proceeding instituted by any Holder of Securities of any series
for the enforcement of the payment of the principal of or premium, if any, or
the interest on, any of the Securities of such series, on or after the respective
due dates expressed in such Securities.

 

40

 

Section 7.09           Remedies
Cumulative.  No remedy herein
conferred upon or reserved to the Trustee or to the Holders of Securities of
any series is intended to be exclusive of any other remedy or remedies, and
each and every remedy shall be cumulative and shall be in addition to every
other remedy given hereunder or now or hereafter existing at law or in equity
or by statute.  No delay or omission of
the Trustee or of any Holder of the Securities of any series to exercise any
right or power accruing upon any Default or Event of Default shall impair any
such right or power or shall be construed to be a waiver of any such Default or
Event of Default or an acquiescence therein; and every power and remedy given
by this Article VII to the Trustee and to the Holders of Securities of any
series, respectively, may be exercised from time to time and as often as may be
deemed expedient by the Trustee or by the Holders of Securities of such series,
as the case may be.  In case the Trustee
or any Holder of Securities of any series shall have proceeded to enforce any
right under this Indenture and the proceedings for the enforcement thereof
shall have been discontinued or abandoned because of waiver or for any other
reason or shall have been adjudicated adversely to the Trustee or to such Holder
of Securities, then and in every such case the Company, the Trustee and the Holders
of the Securities of such series shall severally and respectively be restored
to their former positions and rights hereunder, and thereafter all rights,
remedies and powers of the Trustee and the Holders of the Securities of such
series shall continue as though no such proceedings had been taken, except as
to any matters so waived or adjudicated.

 

ARTICLE
VIII

CONCERNING THE SECURITYHOLDERS

 

Section 8.01           Evidence
of Action of Securityholders.  Whenever
in this Indenture it is provided that the Holders of a specified percentage or
a majority in aggregate principal amount of the Securities or of any series of Securities
may take any action (including the making of any demand or request, the giving
of any notice, consent or waiver or the taking of any other action), the fact
that at the time of taking any such action the Holders of such specified
percentage or majority have joined therein may be evidenced by (a) any instrument
or any number of instruments of similar tenor executed by Securityholders in
person, by an agent or by a  proxy
appointed in writing, including through an electronic system for tabulating
consents operated by the Depositary for such series or otherwise (such action becoming
effective, except as herein otherwise expressly provided, when such instruments
or evidence of electronic consents are delivered to the Trustee and, where it
is hereby expressly required, to the Company), or (b) by the record of the
Holders of Securities voting in favor thereof at any meeting of Securityholders
duly called and held in accordance with the provisions of Article IX, or (c) by
a combination of such instrument or instruments and any such record of such a meeting
of Securityholders.

 

Section 8.02           Proof
of Execution or Holding of Securities.  Proof of the execution of any instrument by a
Securityholder or his, her or its agent or proxy and proof of the holding by
any Person of any of the Securities shall be sufficient if made in the
following manner:

 

(a)        The
fact and date of the execution by any Person of any such instrument may be
proved (i) by the certificate of any notary public or other officer in any
jurisdiction who, by the laws thereof, has power to take acknowledgments or
proof of deeds to be recorded within such jurisdiction, that the Person who
signed such instrument did acknowledge before such 

 

41

 

notary public or other officer the execution
thereof, or (ii) by the affidavit of a witness of such execution sworn to
before any such notary or other officer. 
Where such execution is by a Person acting in other than his or her
individual capacity, such certificate or affidavit shall also constitute
sufficient proof of his or her authority.

 

(b)                       The ownership of Securities of any
series shall be proved by the Register of such Securities or by a certificate
of the Registrar for such series.

 

(c)                        The record of any Holders’ meeting
shall be proved in the manner provided in Section 9.06.

 

(d)                       The Trustee may require such
additional proof of any matter referred to in this Section 8.02 as it
shall deem appropriate or necessary, so long as the request is a reasonable
one.

 

(e)        If
the Company shall solicit from the Holders of Securities of any series any
action, the Company may, at its option fix in advance a record date for the
determination of Holders of Securities entitled to take such action, but the
Company shall have no obligation to do so. 
Any such record date shall be fixed at the Company’s discretion.  If such a record date is fixed, such action
may be sought or given before or after the record date, but only the Holders of
Securities of record at the close of business on such record date shall be
deemed to be Holders of Securities 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.

 

Section 8.03           Persons
Deemed Owners.

 

(a)        The
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name any Security is registered as the owner of such Security
for the purpose of receiving payment of principal of and premium, if any, and
(subject to Section 3.08) interest, if any, 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.  All
payments made to any Holder, or upon his, her or its order, shall be valid,
and, to the extent of the sum or sums paid, effectual to satisfy and discharge
the liability for moneys payable upon such Security.

 

(b)        None
of the Company, the Trustee, any Paying Agent or the Registrar will have any
responsibility or liability for any aspect of the records relating to or
payments made on account of beneficial ownership interests in a Global Security
or for maintaining, supervising or reviewing any records relating to such
beneficial ownership interests.

 

Section 8.04           Effect
of Consents.  After an amendment,
supplement, waiver or other action becomes effective as to any series of
Securities, a consent to it by a Holder of such series of Securities is a
continuing consent conclusive and binding upon such Holder and every subsequent
Holder of the same Securities or portion thereof, and of any Security issued
upon the transfer thereof or in exchange therefor or in place thereof, even if
notation of the consent is not 

 

42

 

made on any
such Security.   An amendment, supplement
or waiver becomes effective in accordance with its terms and thereafter binds
every Holder.

 

ARTICLE
IX

SECURITYHOLDERS’ MEETINGS

 

Section 9.01           Purposes
of Meetings.  A meeting of
Securityholders of any or all series may be called at any time and from time to
time pursuant to the provisions of this Article IX for any of the
following purposes:

 

(a)        to
give any notice to the Company or to the Trustee, or to give any directions to
the Trustee, or to consent to the waiving of any Default or Event of Default hereunder
and its consequences, or to take any other action authorized to be taken by
Securityholders pursuant to any of the provisions of Article VIII;

 

(b)        to
remove the Trustee and nominate a successor trustee pursuant to the provisions
of Article XI;

 

(c)        to
consent to the execution of an Indenture or of indentures supplemental hereto
pursuant to the provisions of Section 14.02; or

 

(d)        to
take any other action authorized to be taken by or on behalf of the Holders of
any specified aggregate principal amount of the Securities of any one or more
or all series, as the case may be, under any other provision of this Indenture
or under applicable law.

 

Section 9.02           Call
of Meetings by Trustee.  The Trustee
may at any time call a meeting of all Securityholders of all series that may be
affected by the action proposed to be taken, to take any action specified in Section 9.01,
to be held at such time and at such place as the Trustee shall determine.  Notice of every meeting of the Securityholders
of a series, setting forth the time and the place of such meeting and in
general terms the action proposed to be taken at such meeting, shall be mailed
to Holders of Securities of such series at their addresses as they shall appear
on the Register of the Company.  Such
notice shall be mailed not less than 20 nor more than 90 days prior to the date
fixed for the meeting.

 

Section 9.03           Call
of Meetings by Company or Securityholders.  In case at any time the Company or the Holders
of at least 10% in aggregate principal amount of the Securities of a series (or
of all series, as the case may be) then Outstanding that may be affected by the
action proposed to be taken, shall have requested the Trustee to call a meeting
of Securityholders of such series (or of all series), by written request
setting forth in reasonable detail the action proposed to be taken at the
meeting, and the Trustee shall not have mailed the notice of such meeting within
20 days after receipt of such request, then the Company or such Securityholders
may determine the time and the place for such meeting and may call such meeting
to take any action authorized in Section 9.01, by mailing notice thereof
as provided in Section 9.02.

 

Section 9.04           Qualifications
for Voting.  To be entitled to vote
at any meeting of Securityholders, a Person shall (a) be a Holder of one
or more Securities affected by the action proposed to be taken at the meeting
or (b) be a Person appointed by an instrument in writing as 

 

43

 

proxy by a Holder
of one or more such Securities.  The only
Persons who shall be entitled to be present or to speak at any meeting of
Securityholders shall be the Persons entitled to vote at such meeting and their
counsel and any representatives of the Trustee and its counsel and any
representatives of the Company and its counsel.

 

Section 9.05           Regulation
of Meetings.

 

(a)        Notwithstanding
any other provisions of this Indenture, the Trustee may make such reasonable
regulations as it may deem advisable for any meeting of Securityholders, in
regard to proof of the holding of Securities and of the appointment of proxies,
and in regard to the appointment and duties of inspectors of votes, the
submission and examination of proxies, certificates and other evidence of the
right to vote, and such other matters concerning the conduct of the meeting as
it shall deem fit.

 

(b)        The
Trustee shall, by an instrument in writing, appoint a temporary chairman of the
meeting, unless the meeting shall have been called by the Company or by
Securityholders as provided in Section 9.03, in which case the Company or
the Securityholders calling the meeting, as the case may be, shall in like manner
appoint a temporary chair.  A permanent chairman
and a permanent secretary of the meeting shall be elected by majority vote of
the meeting.

 

(c)        At
any meeting of Securityholders of a series, each Securityholder of such series
of such Securityholder’s proxy shall be entitled to one vote for each $1,000
principal amount of Securities of such series Outstanding held or represented
by him; provided, however, that no vote shall be cast or counted at any meeting
in respect of any Security challenged as not Outstanding and ruled by the chairman
of the meeting to be not Outstanding.  The
chairman of the meeting shall have no right to vote other than by virtue of
Securities of such series held by him or her or instruments in writing as
aforesaid duly designating him or her as the Person to vote on behalf of other
Securityholders.  At any meeting of the
Securityholders duly called pursuant to the provisions of Section 9.02 or
9.03 the presence of Persons holding or representing Securities in an aggregate
principal amount sufficient to take action upon the business for the
transaction of which such meeting was called shall be necessary to constitute a
quorum, and any such meeting may be adjourned from time to time by a majority
of those present, whether or not constituting a quorum, and the meeting may be
held as so adjourned without further notice.

 

Section 9.06           Voting.
 The vote upon any resolution submitted
to any meeting of Securityholders of a series shall be by written ballots on
which shall be subscribed the signatures of the Holders of Securities of such
series or of their representatives by proxy and the principal amounts of the
Securities of such series held or represented by them.  The permanent chairman of the meeting shall
appoint two inspectors of votes who shall count all votes cast at the meeting
for or against any resolution and who shall make and file with the secretary of
the meeting their verified written reports in duplicate of all votes cast at
the meeting.  A record in duplicate of
the proceedings of each meeting of Securityholders shall be prepared by the
secretary of the meeting and there shall be attached to said record the
original reports of the inspectors of votes on any vote by ballot taken thereat
and affidavits by one or more Persons having knowledge of the facts setting
forth a copy of the notice of the meeting and showing that said notice was
mailed as 

 

44

 

provided in Section 9.02.  The record shall show the principal amounts
of the Securities voting in favor of or against any resolution.  The record shall be signed and verified by
the affidavits of the permanent chairman and secretary of the meeting and one
of the duplicates shall be delivered to the Company and the other to the
Trustee to be preserved by the Trustee.

 

Any record so signed and verified shall be
conclusive evidence of the matters therein stated.

 

Section 9.07           No
Delay of Rights by Meeting.  Nothing
contained in this Article IX shall be deemed or construed to authorize or
permit, by reason of any call of a meeting of Securityholders of any series or
any rights expressly or impliedly conferred hereunder to make such call, any
hindrance or delay in the exercise of any right or rights conferred upon or
reserved to the Trustee or to the Securityholders of such series under any of
the provisions of this Indenture or of the Securities of such series.

 

ARTICLE X

REPORTS BY THE COMPANY AND THE TRUSTEE AND

SECURITYHOLDERS’ LISTS

 

Section 10.01         Reports
by Trustee.

 

(a)        So
long as any Securities are outstanding, the Trustee shall transmit to Holders
such reports concerning the Trustee and its actions under this Indenture as may
be required pursuant to the Trust Indenture Act at the times and in the manner
provided therein.  If required by Section 313(a) of
the Trust Indenture Act, the Trustee shall, within 60 days after each May 15
following the date of this Indenture deliver to Holders a brief report which
complies with the provisions of such Section 313(a).

 

(b)        The
Trustee shall, at the time of the transmission to the Holders of Securities of
any report pursuant to the provisions of this Section 10.01, file a copy
of such report with each stock exchange upon which the Securities are listed,
if any, and also with the SEC in respect of a Security listed and registered on
a national securities exchange, if any.  The
Company agrees to notify the Trustee when, as and if the Securities become listed
on any stock exchange.

 

The Company will reimburse the Trustee for
all expenses incurred in the preparation and transmission of any report
pursuant to the provisions of this Section 10.01 and of Section 10.02.

 

Section 10.02         Reports
by the Company.  The Company shall
file with the Trustee and the SEC, and transmit to Holders, such information,
documents and other reports, and such summaries thereof, as may be required
pursuant to the Trust Indenture Act at the times and in the manner provided in
the Trust Indenture Act; provided that, unless available on EDGAR, any such
information, documents or reports required to be filed with the SEC pursuant to
Section 13 or 15(d) of the Exchange Act shall be filed with the
Trustee within 15 days after the same is filed with the SEC; and provided
further, that the filing of the reports specified in Section 13 or 15(d) of
the Exchange Act by an entity that is the direct or indirect parent of the
Company will satisfy the requirements of this Section 10.02 so long as
such entity is an obligor or guarantor on the 

 

45

 

Securities;
and provided further that the reports of such entity will not be required to
include condensed consolidating financial information for the Company in a
footnote to the financial statements of such entity.

 

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

 

Section 10.03         Securityholders’
Lists.  The Company covenants and agrees
that it will furnish or cause to be furnished to the Trustee:

 

(a)        semi-annually,
within 15 days after each Record Date, but in any event not less frequently
than semi-annually, a list in such form as the Trustee may reasonably require
of the names and addresses of the Holders of Securities to which such Record Date
applies, as of such Record Date, and

 

(b)        at
such other times as the Trustee may request in writing, within 30 days after
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 shall be the Registrar, such lists shall
not be required to be furnished.

 

ARTICLE XI

CONCERNING THE TRUSTEE

 

Section 11.01         Rights
of Trustees; Compensation and Indemnity.  The Trustee accepts the trusts created by this
Indenture upon the terms and conditions hereof, including the following, to all
of which the parties hereto and the Holders from time to time of the Securities
agree:

 

(a)        The
Trustee shall be entitled to such compensation as the Company and the Trustee
shall from time to time agree in writing for all services rendered by it
hereunder (including in any agent capacity in which it acts).  The compensation of the Trustee shall not be
limited by any provision of law in regard to the compensation of a trustee of
an express trust.  The Company shall reimburse
the Trustee promptly upon its request for all reasonable out-of-pocket expenses,
disbursements and advances incurred or made by the Trustee (including the
reasonable expenses and disbursements of its agents and counsel), except any such
expense, disbursement or advance as shall be determined to have been caused by
its own negligence, bad faith or willful misconduct.

 

The Company also agrees to indemnify each of the Trustee and any predecessor
Trustee hereunder for, and to hold it harmless against, any and all loss,
liability, damage, claim, or expense incurred without its own negligence, bad
faith or willful misconduct, arising out of or in connection with the
acceptance or administration of the trust or trusts hereunder and the
performance of its duties (including in any agent capacity in which it acts),
as well as the costs 

 

46

 

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, except
those determined to have been caused by its own negligence, willful misconduct
or bad faith.  The Trustee shall notify
the Company promptly of any claim of which the Trustee has received written
notice and for which it may seek indemnity. The Company shall defend the claim
and the Trustee shall cooperate in the defense. The Trustee may employ separate
counsel and the Company shall pay the reasonable fees and expenses of such
counsel. The Company need not pay for any settlement made without its consent,
which consent shall not be unreasonably withheld.

 

As security for the performance of the obligations of the Company under
this Section 11.01(a), the Trustee shall have a lien upon all property and
funds held or collected by the Trustee as such, except funds held in trust by
the Trustee to pay principal of and interest on any Securities.  Notwithstanding any provisions of this
Indenture to the contrary, the obligations of the Company to compensate and
indemnify the Trustee under this Section 11.01(a) shall survive the
resignation or removal of the Trustee and any satisfaction and discharge under Article XII.  When the Trustee incurs expenses or renders
services after an Event of Default specified in clause (e) or (f) of Section 7.01
occurs, the expenses and compensation for the services are intended to
constitute expenses of administration under any applicable federal or state
bankruptcy, insolvency or similar laws.

 

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

 

(c)        The
Trustee shall not be responsible in any manner whatsoever for the correctness
of the recitals herein or in the Securities (except its certificates of
authentication thereon) contained, all of which are made solely by the Company;
and the Trustee shall not be responsible or accountable in any manner
whatsoever for or with respect to the validity or execution or sufficiency of
this Indenture or of the Securities (except its certificates of authentication
thereon), and the Trustee makes no representation with respect thereto, 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 in a Statement of Eligibility on Form T-1
supplied to the Company are true and accurate, subject to the qualifications
set forth therein.  The Trustee shall not
be accountable for the use or application by the Company of any Securities, or
the proceeds of any Securities, authenticated and delivered by the Trustee in
conformity with the provisions of this Indenture.

 

(d)        The
Trustee may consult with counsel of its selection, and, to the extent permitted
by Section 11.02, any Opinion of Counsel shall be full and complete
authorization and protection in respect of any action taken or suffered by the
Trustee hereunder in good faith and in accordance with such Opinion of Counsel.

 

(e)        The
Trustee, to the extent permitted by Section 11.02, may rely upon the
certificate of the Secretary or one of the Assistant Secretaries of the Company
as to the adoption of any Board Resolution or resolution of the stockholders of
the Company, and any request, direction, order or demand of the Company
mentioned herein shall be sufficiently evidenced by, 

 

47

 

and 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 may
rely upon, an Officer’s Certificate of the Company (unless other evidence in
respect thereof be herein specifically prescribed).

 

(f)         Subject
to Section 11.04, the Trustee or any agent of the Trustee, in its individual
or any other capacity, may become the owner or pledgee of Securities and,
subject to Sections 310(b) and 311 of the Trust Indenture Act, may
otherwise deal with the Company with the same rights it would have had if it were
not the Trustee or such agent.

 

(g)        Money
held by the Trustee in trust hereunder 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 in writing with the Company.

 

(h)        Any
action taken by the Trustee pursuant to any provision hereof at the request or
with the consent of any Person who at the time is the Holder of any Security
shall be conclusive and binding in respect of such Security upon all future Holders
thereof or of any Security or Securities which may be issued for or in lieu
thereof in whole or in part, whether or not such Security shall have noted
thereon the fact that such request or consent had been made or given.

 

(i)         Subject
to the provisions of Section 11.02, the Trustee may conclusively rely and
shall be protected in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request, consent,
order, approval, bond, debenture or other paper or document believed by it to
be genuine and to have been signed or presented by the proper party or parties.

 

(j)         Subject
to the provisions of Section 11.02, the Trustee shall not be under any
obligation to exercise any of the rights or powers vested in it by this
Indenture at the request, order or direction of any of the Holders of the Securities,
pursuant to any provision of this Indenture, unless one or more of the Holders
of the Securities shall have offered to the Trustee security or indemnity
satisfactory to it against the costs, expenses and liabilities which may be
incurred by it therein or thereby.

 

(k)        Subject
to the provisions of Section 11.02, the Trustee shall not be liable for
any action taken or omitted by it in good faith and believed by it to be
authorized or within its discretion or within the rights or powers conferred
upon it by this Indenture.

 

(l)         Subject
to the provisions of Section 11.02, the Trustee shall not be deemed to
have knowledge or notice of any Default or Event of Default unless a
Responsible Officer of the Trustee has actual knowledge thereof or unless the Holders
of not less than 25% of the Outstanding Securities notify the Trustee thereof.

 

(m)       Subject
to the provisions of the first paragraph of Section 11.02, 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, bond, debenture, note, other evidence of Indebtedness
or other paper or document, but the 

 

48

 

Trustee, may, but shall not be required to,
make further inquiry or investigation into such facts or matters as it may see
fit at the expense of the Company and shall incur no liability of any kind by
reason of such inquiry or investigation.

 

(n)        In
no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited
to, loss of profit) irrespective of whether the Trustee has been advised of the
likelihood of such loss or damage and regardless of the form of action.

 

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

 

Section 11.02         Duties
of Trustee.

 

(a)        If
one or more of the Events of Default specified in Section 7.01 with
respect to the Securities of any series shall have happened, then, during the
continuance thereof, the Trustee shall, with respect to such Securities, exercise
such of 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 person would
exercise or use under the circumstances in the conduct of such person’s own
affairs.

 

(b)        None
of the provisions of this Indenture shall be construed as relieving the Trustee
from liability for its own negligent action, its own negligent action, negligent
failure to act, or its own willful misconduct, except that, anything in this
Indenture contained to the contrary notwithstanding,

 

(i)        unless and until an Event of Default
specified in Section 7.01 with respect to the Securities of any series
shall have happened which at the time is continuing,

 

(A)      the Trustee undertakes to perform such
duties and only such duties with respect to the Securities of that series as
are specifically set out in this Indenture, and no implied covenants or
obligations shall be read into this Indenture against the Trustee, whose duties
and obligations shall be determined solely by the express provisions of this
Indenture; and

 

(B)       the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed
therein, in the absence of bad faith on the part of the Trustee, upon
certificates and opinions furnished to it pursuant to the express provisions of
this Indenture; but in the case of any such certificates or opinions which, by the
provisions of this Indenture, are specifically required to be furnished to the
Trustee, the Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Indenture (but need not
confirm or investigate the accuracy of mathematical 

 

49

 

calculations or other facts, statements,
opinions or conclusions stated therein);

 

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

 

(iii)          the Trustee shall not be liable to any
Holder of Securities or to any other Person with respect to any action taken or
omitted to be taken by it in good faith, in accordance with the direction of
Securityholders given as provided in Section 7.06, relating to the time,
method and place of conducting any proceeding for any remedy available to it or
exercising any trust or power conferred upon it by this Indenture.

 

(c)        None
of the provisions of this Indenture shall require the Trustee to expend or risk
its own funds or otherwise to incur any financial liability in the performance
of any of its duties hereunder, or in the exercise of any 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.

 

(d)        Whether
or not therein expressly so provided, every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection
to the Trustee shall be subject to the provisions of this Section 11.02.

 

Section 11.03     Notice
of Defaults.  Within 90 days after
the occurrence thereof, and if known to the Trustee, the Trustee shall give to
the Holders of the Securities of a series notice of each Default or Event of
Default with respect to the Securities of such series known to the Trustee, by
transmitting such notice to Holders at their addresses as the same shall then
appear on the Register of the Company, unless such Default shall have been
cured or waived before the giving of such notice (the term “Default” being
hereby defined to be the events specified in Section 7.01, which are, or
after notice or lapse of time or both would become, Events of Default as
defined in said Section), provided, however, that in the case of any Default of
the character specified in Section 7.01(d) with respect to Securities
of such series, such notice shall not be given until at least 30 days after the
occurrence of such Default.  Except in
the case of a Default or Event of Default in payment of the principal of,
premium, if any, or interest on any of the Securities of such series when and
as the same shall become payable, or to make any sinking fund payment as to
Securities of the same series, the Trustee shall be protected in withholding
such notice, if and so long as a Responsible Officer or Responsible Officers of
the Trustee in good faith determines that the withholding of such notice is in
the interests of the Holders of the Securities of such series.

 

Section 11.04     Eligibility;
Disqualification.

 

(a)        The
Trustee shall at all times satisfy the requirements of TIA Section 310(a).  The Trustee shall have a combined capital and
surplus of at least $50 million as set forth in its most recent published
annual report of condition, and shall have a Corporate Trust Office.

 

50

 

If at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section 11.04, it shall
resign immediately in the manner and with the effect hereinafter specified in
this Article.

 

(b)        The
Trustee shall comply with TIA Section 310(b); provided, however, that
there shall be excluded from the operation of TIA Section 310(b)(i) any
indenture or indentures under which other securities or certificates of
interest or participation in other securities of the Company are outstanding if
the requirements for such exclusion set forth in TIA Section 310(b)(i) are
met.  If the Trustee has or shall acquire
a conflicting interest within the meaning of Section 310(b) of the Trust
Indenture Act, the Trustee shall either eliminate such interest or resign, to
the extent and in the manner provided by, and subject to the provisions of, the
Trust Indenture Act and this Indenture.  If
Section 310(b) of the Trust Indenture Act is amended any time after
the date of this Indenture to change the circumstances under which a Trustee
shall be deemed to have a conflicting interest with respect to the Securities
of any series or to change any of the definitions in connection therewith, this
Section 11.04 shall be automatically amended to incorporate such changes.

 

Section 11.05         Registration
and Notice; Removal.  The Trustee, or
any successor to it hereafter appointed, may at any time resign and be
discharged of the trusts hereby created with respect to any one or more or all
series of Securities by giving to the Company notice in writing.  Such resignation shall take effect upon the
appointment of a successor Trustee and the acceptance of such appointment by
such successor Trustee.  Any Trustee hereunder
may be removed with respect to any series of Securities at any time by the
filing with such Trustee and the delivery to the Company of an instrument or
instruments in writing signed by the Holders of a majority in principal amount
of the Securities of such series then Outstanding, specifying such removal and
the date when it shall become effective.

 

If at any time:

 

(1)           the
Trustee shall fail to comply with the provisions of TIA Section 310(b) 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

 

(2)           the
Trustee shall cease to be eligible under Section 11.04 and shall fail to
resign 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

 

(3)           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 written notice to
the Trustee may remove the Trustee and appoint a successor Trustee with respect
to all Securities, or (ii) subject to TIA Section 315(e), any
Securityholder 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 

 

51

 

jurisdiction for the removal of
the Trustee with respect to all Securities and the appointment of a successor
Trustee or Trustees.

 

Upon its resignation or removal, any Trustee
shall be entitled to the payment of reasonable compensation for the services
rendered hereunder by such Trustee and to the payment of all reasonable
expenses incurred hereunder and all moneys then due to it hereunder.  The Trustee’s rights to indemnification
provided in Section 11.01(a) shall survive its resignation or
removal.

 

Section 11.06         Successor
Trustee by Appointment.

 

(a)        In
case at any time the Trustee shall resign, or shall be removed (unless the
Trustee shall be removed as provided in Section 11.04(b), in which event
the vacancy shall be filled as provided in said subdivision), or shall become
incapable of acting, or shall be adjudged bankrupt or insolvent, or if a
receiver of the Trustee or of its property shall be appointed, or if 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 with respect to
the Securities of one or more series, a successor Trustee with respect to the
Securities of that or those series (it being understood that any such successor
Trustee may be appointed with respect to the Securities of one or more or all
of such series and that at any time there shall be only one Trustee with
respect to the Securities of any series) may be appointed by the Holders of a
majority in principal amount of the Securities of that or those series then Outstanding,
by an instrument or instruments in writing signed in duplicate by such Holders
and filed, one original thereof with the Company and the other with the
successor Trustee; but, until a successor Trustee shall have been so appointed
by the Holders of Securities of that or those series as herein authorized, the
Company, or, in case all or substantially all the assets of the Company shall
be in the possession of one or more custodians or receivers lawfully appointed,
or of trustees in bankruptcy or reorganization proceedings (including a trustee
or trustees appointed under the provisions of the federal bankruptcy laws, as
now or hereafter constituted), or of assignees for the benefit of creditors,
such receivers, custodians, trustees or assignees, as the case may be, by an instrument
in writing, shall appoint a successor Trustee with respect to the Securities of
such series.  Subject to the provisions
of Sections 11.04 and 11.05, upon the appointment as aforesaid of a successor
Trustee with respect to the Securities of any series, the Trustee with respect
to the Securities of such series shall cease to be Trustee hereunder.  After any such appointment other than by the Holders
of Securities of that or those series, the Person making such appointment shall
forthwith cause notice thereof to be mailed to the Holders of Securities of
such series at their addresses as the same shall then appear on the Register of
the Company but any successor Trustee with respect to the Securities of such
series so appointed shall, immediately and without further act, be superseded
by a successor Trustee appointed by the Holders of Securities of such series in
the manner above prescribed, if such appointment be made prior to the
expiration of one year from the date of the mailing of such notice by the
Company, or by such receivers, trustees or assignees.

 

(b)        If
any Trustee with respect to the Securities of one or more series shall resign or
be removed and a successor Trustee shall not have been appointed by the Company
or by the Holders of the Securities of such series or, if any successor Trustee
so appointed shall not have accepted its appointment within 30 days after such appointment
shall have been made, the resigning Trustee at the expense of the Company may
apply to any court of competent 

 

52

 

jurisdiction for the appointment of a
successor Trustee.  If in any other case
a successor Trustee shall not be appointed pursuant to the foregoing provisions
of this Section 11.06 within three months after such appointment might
have been made hereunder, the Holder of any Security of the applicable series
or any retiring Trustee at the expense of the Company may apply to any court of
competent jurisdiction to appoint a successor Trustee.  Such court may thereupon, in any such case,
after such notice, if any, as such court may deem proper and prescribe, appoint
a successor Trustee.

 

(c)        Any
successor Trustee appointed hereunder with respect to the Securities of one or
more series shall execute, acknowledge and deliver to its predecessor Trustee
and to the Company, or to the receivers, trustees, assignees or court
appointing it, as the case may be, an instrument accepting such appointment
hereunder, and thereupon such successor Trustee, without any further act, deed
or conveyance, shall become vested with all the authority, rights, powers,
trusts, immunities, duties and obligations with respect to such series of such
predecessor Trustee with like effect as if originally named as Trustee hereunder,
and such predecessor Trustee, upon payment of its charges and disbursements
then unpaid, shall thereupon become obligated to pay over, and such successor
Trustee shall be entitled to receive, all moneys and properties held by such
predecessor Trustee as Trustee hereunder, subject nevertheless to its lien
provided for in Section 11.01(a).  Nevertheless,
on the written request of the Company or of the successor Trustee or of the Holders
of at least 10% in principal amount of the Securities of such series then Outstanding,
such predecessor Trustee, upon payment of its said charges and disbursements,
shall execute and deliver an instrument transferring to such successor Trustee
upon the trusts herein expressed all the rights, powers and trusts of such
predecessor Trustee and shall assign, transfer and deliver to the successor
Trustee all moneys and properties held by such predecessor Trustee, subject
nevertheless to its lien provided for in Section 11.01(a); and, upon
request of any such successor Trustee and the Company shall make, execute,
acknowledge and deliver any and all instruments in writing for more fully and
effectually vesting in and confirming to such successor Trustee all such
authority, rights, powers, trusts, immunities, duties and obligations.

 

Section 11.07         Successor
Trustee by Merger.  Any Person into
which the Trustee or any successor to it in the trusts created by this
Indenture shall be merged or converted, or any Person with which it or any
successor to it shall be consolidated, or any Person resulting from any merger,
conversion or consolidation to which the Trustee or any such successor to it
shall be a party, or any Person to which the Trustee or any successor to it
shall sell or otherwise transfer all or substantially all of the corporate
trust business of the Trustee, shall be the successor Trustee under this
Indenture without the execution or filing of any paper or any further act on
the part of any of the parties hereto; provided that such Person shall be
otherwise qualified and eligible under this Article.  In case at the time such successor to the
Trustee shall succeed to the trusts created by this Indenture with respect to
one or more series of Securities, any of such Securities shall have been
authenticated but not delivered by the Trustee then in office, any successor to
such Trustee may adopt the certificate of authentication of any predecessor
Trustee, and deliver such Securities so authenticated; and in case at that time
any of the Securities shall not have been authenticated, any successor to the
Trustee may authenticate such Securities either in the name of any predecessor
hereunder or in the name of the successor Trustee; and in all such cases such certificates
shall have the full force which it is anywhere in the Securities or in this
Indenture provided that the certificate of the Trustee shall have; provided,
however, that the right to adopt 

 

53

 

the
certificate of authentication of any predecessor Trustee or authenticate
Securities in the name of any predecessor Trustee shall apply only to its
successor or successors by merger, conversion or consolidation.

 

Section 11.08         Right
to Rely on Officer’s Certificate.  Subject
to Section 11.02, and subject to the provisions of Section 16.01 with
respect to the certificates required thereby, whenever in the administration of
the provisions of this Indenture the Trustee shall deem it necessary or
desirable that a matter be proved or established prior to taking or suffering
any action hereunder, such matter (unless other evidence in respect thereof be
herein specifically prescribed) may, in the absence of negligence, bad faith or
willful misconduct on the part of the Trustee, be deemed to be conclusively
proved and established by an Officer’s Certificate with respect thereto
delivered to the Trustee, and such Officer’s Certificate, in the absence of
negligence, bad faith or willful misconduct on the part of the Trustee, shall
be full warrant to the Trustee for any action taken, suffered or omitted by it
under the provisions of this Indenture upon the faith thereof.

 

Section 11.09         Appointment
of Authenticating Agent.  The Trustee
may appoint an agent (the “Authenticating Agent”) reasonably acceptable to the Company
to authenticate the Securities, and the Trustee shall give written notice of
such appointment to all Holders of Securities of the series with respect to
which such Authenticating Agent will serve. 
Unless limited by the terms of such appointment, any such Authenticating
Agent may authenticate Securities whenever the Trustee may do so.  Each reference in this Indenture to
authentication by the Trustee includes authentication by the Authenticating
Agent. 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.

 

Each Authenticating Agent shall at all times
be a corporation organized and doing business and in good standing under the
laws of the United States, any State thereof or the District of Columbia,
authorized under such laws to act as Authenticating Agent, having a combined
capital and surplus of not less than $50,000,000 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 Article XI,
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. If at any time an Authenticating Agent shall cease to
be eligible in accordance with the provisions of this Article XI, it shall
resign immediately in the manner and with the effect specified in this Article XI.

 

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 Article XI, without the execution or
filing of any paper or any further act on the part of the Trustee or the
Authenticating Agent.

 

54

 

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 11.09, the Trustee may
appoint a successor Authenticating Agent which shall be acceptable to the
Company and shall give written notice of such appointment to all Holders of
Securities of the series with respect to which such Authenticating Agent will
serve. 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 11.09.

 

The Trustee agrees to pay to each
Authenticating Agent from time to time reasonable compensation for its services
under this Section 11.09, and the Trustee shall be entitled to be
reimbursed for such payments, subject to the provisions of Section 11.01.

 

Section 11.10         Communications
by Securityholders with Other Securityholders.  Holders of Securities may communicate pursuant
to Section 312(b) of the Trust Indenture Act with other Holders with
respect to their rights under this Indenture or the Securities.  The Company, the Trustee, the Registrar and
anyone else shall have the protection of Section 312(c) of the Trust
Indenture Act with respect to such communications.

 

ARTICLE XII

 

SATISFACTION AND DISCHARGE; DEFEASANCE

 

Section 12.01         Applicability
of Article.  If, pursuant to Section 3.01,
provision is made for the defeasance of Securities of a series and if the Securities
of such series are denominated and payable only in U.S. Dollars (except as
provided pursuant to Section 3.01), then the provisions of this Article shall
be applicable except as otherwise specified pursuant to Section 3.01 for
Securities of such series.  Defeasance
provisions, if any, for Securities denominated in a Foreign Currency may be
specified pursuant to Section 3.01.

 

Section 12.02         Satisfaction
and Discharge of Indenture.  This Indenture,
with respect to the Securities of any series (if all series issued under this
Indenture are not to be affected), shall, upon Company Order, cease to be of
further effect (except as to any surviving rights of registration of transfer
or exchange of such Securities herein expressly provided for and rights to
receive payments of principal of and premium, if any, and interest on such Securities)
and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging satisfaction and discharge of this Indenture, when,

 

(a)   either:

 

(i)       all Securities of such series theretofore
authenticated and delivered (other than (A) Securities that have been
destroyed, lost or stolen and that have been replaced or paid as provided in Section 3.07
and (B) Securities for

 

55

 

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 6.03) have been delivered to the Trustee for
cancellation; or

 

(ii)   all Securities of such series not theretofore
delivered to the Trustee for cancellation,

 

(A)      have become due and payable, or

 

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

 

(C)       are to be called for redemption within
one year under arrangements satisfactory to the Trustee for the giving of
notice by the Trustee in the name, and at the expense, of the Company, and the
Company,

 

and in the case of (A), (B) or
(C) above, has deposited or caused to be deposited with the Trustee or Paying
Agent as trust funds in trust for the purpose an amount in the Currency in
which such Securities are denominated (except as otherwise provided pursuant to
Section 3.01) sufficient to pay and discharge the entire Indebtedness on
such Securities for principal and premium, if any, and interest to the date of
such deposit (in the case of Securities that have become due and payable) or to
the Stated Maturity or Redemption Date, as the case may be; provided, however,
in the event a petition for relief under federal bankruptcy laws, as now or
hereafter constituted, or any other applicable federal or state bankruptcy,
insolvency or other similar law, is filed with respect to the Company within 91
days after the deposit and the Trustee is required to return the moneys then on
deposit with the Trustee to the Company, the obligations of the Company under
this Indenture with respect to such Securities shall not be deemed terminated
or discharged;

 

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

 

(c)        the
Company has delivered to the Trustee an Officer’s Certificate and an Opinion of
Counsel each stating that all conditions precedent herein provided for relating
to the satisfaction and discharge of this Indenture with respect to such series
have been complied with.  Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section 11.01 and, if money shall have been
deposited with the Trustee pursuant to subclause (B) of clause (a)(i) of
this Section, the obligations of the Trustee under Section 12.07 and the last
paragraph of Section 6.03(e) shall survive.

 

Section 12.03         Defeasance
upon Deposit of Moneys or U.S. Government Obligations.  At the Company’s option, either (a) the
Company shall be deemed to have been Discharged (as defined below) from its
obligations with respect to Securities of any series on the first day after the
applicable conditions set forth below have been satisfied or (b) the
Company shall cease to be under any obligation to comply with any term,
provision or condition set forth in Section 6.04 with respect to
Securities of any series (and, if so specified pursuant to Section 3.01,
any other

 

56

 

restrictive
covenant added for the benefit of such series pursuant to Section 3.01) at
any time after the applicable conditions set forth below have been satisfied:

 

(a)        The
Company shall have deposited or caused to be deposited irrevocably with the Trustee
as trust funds in trust, specifically pledged as security for, and dedicated
solely to, the benefit of the Holders of the Securities of such series (i) money
in an amount, or (ii) U.S. Government Obligations (as defined below) that
through the payment of interest and principal in respect thereof in accordance
with their terms will provide, not later than one day before the due date of
any payment, money in an amount, or (iii) a combination of (i) and
(ii), sufficient to pay and discharge each installment of principal (including
any mandatory sinking fund payments) of and premium, if any, and interest on,
the Outstanding Securities of such series on the dates such installments of
interest or principal and premium are due; provided, however, in the event a
petition for relief under federal bankruptcy laws, as now or hereafter
constituted, or any other applicable federal or state bankruptcy, insolvency or
other similar law, is filed with respect to the Company within 91 days after
the deposit and the Trustee is required to return the moneys then on deposit
with the Trustee to the Company, the obligations of the Company under this
Indenture with respect to such Securities shall not be Discharged;

 

(b)        No
Default with respect to the Securities of such series shall have occurred and
be continuing on the date of such deposit (other than a Default resulting from
the borrowing of funds and the grant of any related liens to be applied to such
deposit); and

 

(c)        The
Company shall have delivered to the Trustee an Opinion of Counsel to the effect
that Holders of the Securities of such series will not recognize income, gain
or loss for U.S. federal income tax purposes as a result of the Company’s
exercise of its option under this Section and will be subject to federal
income tax on the same amounts and in the same manner and at the same times as
would have been the case if such action had not been exercised and, in the case
of the Securities of such series being Discharged accompanied by a ruling to
that effect received from or published by the Internal Revenue Service.

 

“Discharged” means that the Company shall be
deemed to have paid and discharged the entire Indebtedness represented by, and
obligations under, the Securities of such series and to have satisfied all the
obligations under this Indenture relating to the Securities of such series (and
the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging the same), except (A) the rights of Holders of Securities of
such series to receive, from the trust fund described in clause (a) above,
payment 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 Securities of such series under Sections 3.04, 3.06, 3.07, 6.02,
12.06 and 12.07 and (C) the rights, powers, trusts, duties and immunities
of the Trustee hereunder.

 

“U.S. Government Obligations” means
securities that are (i) direct obligations of the United States 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 the timely of payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United
States, that, in either case under clauses (i) or (ii) are not
callable or redeemable at the action of the issuer thereof, and shall also
include a depositary receipt issued by a bank or trust company as custodian with
respect to any such U.S. Government Obligation or

 

57

 

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 depositary 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 depositary
receipt from any amount received 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 depositary receipt.

 

Section 12.04         Repayment
to Company.  The Trustee and any
Paying Agent shall promptly pay to the Company (or to its designee) upon Company
Order any excess moneys or U.S. Government Obligations held by them at any
time, including any such moneys or obligations held by the Trustee under any
escrow trust agreement entered into pursuant to Section 12.06.  The provisions of the last paragraph of Section 6.03
shall apply to any money held by the Trustee or any Paying Agent under this Article that
remains unclaimed for two years after the Maturity of any series of Securities
for which money or U.S. Government Obligations have been deposited pursuant to Section 12.03.

 

Section 12.05         Indemnity
for U.S. Government Obligations.  The
Company shall pay and shall indemnify the Trustee against any tax, fee or other
charge imposed on or assessed against the deposited U.S. Government Obligations
or the principal or interest received on such U.S. Government Obligations.

 

Section 12.06         Deposits
to Be Held in Escrow.  Any deposits
with the Trustee referred to in Section 12.03 above shall be irrevocable
(except to the extent provided in Sections 12.04 and 12.07) and shall be made
under the terms of an escrow trust agreement. 
If any Outstanding Securities of a series are to be redeemed prior to their
Stated Maturity, whether pursuant to any optional redemption provisions or in
accordance with any mandatory or optional sinking fund requirement, the applicable
escrow trust agreement shall provide therefor and the Company shall make such
arrangements as are satisfactory to the Trustee for the giving of notice of
redemption by the Trustee in the name, and at the expense, of the Company.  The agreement shall provide that, upon
satisfaction of any mandatory sinking fund payment requirements, whether by
deposit of moneys, application of proceeds of deposited U.S. Government
Obligations or, if permitted, by delivery of Securities, the Trustee shall pay
or deliver over to the Company as excess moneys pursuant to Section 12.04
all funds or obligations then held under the agreement and allocable to the
sinking fund payment requirements so satisfied.

 

If Securities of a series with respect to
which such deposits are made may be subject to later redemption at the option
of the Company or pursuant to optional sinking fund payments, the applicable
escrow trust agreement may, at the option of the Company, provide therefor.  In the case of an optional redemption in
whole or in part, such agreement shall require the Company to deposit with the
Trustee on or before the date notice of redemption is given funds sufficient to
pay the Redemption Price of the Securities to be redeemed together with all
unpaid interest thereon to the Redemption Date. 
Upon such deposit of funds, the Trustee shall pay or deliver over to the
Company as excess funds pursuant to Section 12.04 all funds or obligations
then held under such agreement and allocable to the Securities to be redeemed.  In the case of exercise of optional sinking
fund payment rights by the Company, such agreement shall, at the option of the
Company, provide that upon deposit by the Company with the Trustee of funds
pursuant to such exercise the Trustee shall pay or deliver over to the Company
as excess funds pursuant to Section

 

58

 

12.04 all
funds or obligations then held under such agreement for such series and
allocable to the Securities to be redeemed.

 

Section 12.07         Application
of Trust Money.

 

(a)        Neither
the Trustee nor any other paying agent shall be required to pay interest on any
moneys deposited pursuant to the provisions of this Indenture, except such as
it shall agree with the Company in writing to pay thereon.  Any moneys so deposited for the payment of
the principal of, or premium, if any, or interest on the Securities of any
series and remaining unclaimed for two years after the date of the maturity of
the Securities of such series or the date fixed for the redemption of all the
Securities of such series at the time outstanding, as the case may be, shall be
repaid by the Trustee or such other paying agent to the Company upon its
written request and thereafter, anything in this Indenture to the contrary
notwithstanding, any rights of the Holders of Securities of such series in
respect of which such moneys shall have been deposited shall be enforceable
only against the Company, and all liability of the Trustee or such other paying
agent with respect to such moneys shall thereafter cease.

 

(b)        Subject
to the provisions of the foregoing paragraph, any moneys which at any time
shall be deposited by the Company or on its behalf with the Trustee or any
other paying agent for the purpose of paying the principal of, premium, if any,
and interest on any of the Securities shall be and are hereby assigned,
transferred and set over to the Trustee or such other paying agent in trust for
the respective Holders of the Securities for the purpose for which such moneys
shall have been deposited; but such moneys need not be segregated from other
funds except to the extent required by law.

 

Section 12.08         Deposits
of Non-U.S. Currencies.  Notwithstanding
the foregoing provisions of this Article, if the Securities of any series are payable
in a Currency other than U.S. Dollars, the Currency or the nature of the government
obligations to be deposited with the Trustee under the foregoing provisions of
this Article shall be as set forth in the Officer’s Certificate or established
in the supplemental indenture under which the Securities of such series are
issued.

 

ARTICLE XIII

 

IMMUNITY OF CERTAIN PERSONS

 

Section 13.01         No
Personal Liability.  No recourse
shall be had for the payment of the principal of, or the premium, if any, or
interest on, any Security or for any claim based thereon or otherwise in
respect thereof or of the Indebtedness represented thereby, or upon any
obligation, covenant or agreement of this Indenture, against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor corporation, either directly or through the Company
or any successor corporation, whether by virtue of any constitutional
provision, statute or rule of law, or by the enforcement of any assessment
or penalty or otherwise; it being expressly agreed and understood that this
Indenture and the Securities are solely corporate obligations, and that no
personal liability whatsoever shall attach to, or be incurred by, any
incorporator, stockholder, officer or director, as such, past, present or
future, of the Company or of any successor corporation, either directly or
through the Company or any successor

 

59

 

corporation,
because of the incurring of the Indebtedness hereby authorized or under or by
reason of any of the obligations, covenants, promises or agreements contained
in this Indenture or in any of the Securities, or to be implied herefrom or therefrom,
and that all liability, if any, of that character against every such incorporator,
stockholder, officer and director is, by the acceptance of the Securities and
as a condition of, and as part of the consideration for, the execution of this
Indenture and the issue of the Securities expressly waived and released.

 

ARTICLE XIV

 

SUPPLEMENTAL INDENTURES

 

Section 14.01         Without
Consent of Securityholders.  Except
as otherwise provided as contemplated by Section 3.01 with respect to any
series of Securities, the Company and the Trustee, at any time and from time to
time, may enter into one or more indentures supplemental hereto, in form
satisfactory to the Trustee, for any one or more of or all the following
purposes:

 

(a)        to
add to the covenants and agreements of the Company, to be observed thereafter
and during the period, if any, in such supplemental indenture or indentures
expressed, and to add Events of Default, in each case for the protection or
benefit of the Holders of all or any series of the Securities (and if such
covenants, agreements and Events of Default are to be for the benefit of fewer
than all series of Securities, stating that such covenants, agreements and
Events of Default are expressly being included for the benefit of such series
as shall be identified therein), or to surrender any right or power herein
conferred upon the Company;

 

(b)        to
delete or modify any Events of Default with respect to all or any series of the
Securities, the form and terms of which are being established pursuant to such
supplemental indenture as permitted in Section 3.01 (and, if any such
Event of Default is applicable to fewer than all such series of the Securities,
specifying the series to which such Event of Default is applicable), and to
specify the rights and remedies of the Trustee and the Holders of such
Securities in connection therewith;

 

(c)        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
Outstanding Security of any series created prior to the execution of such
supplemental indenture that is entitled to the benefit of such provision and as
to which such supplemental indenture would apply;

 

(d)        to
evidence the succession of another corporation to the Company, or successive
successions, and the assumption by such successor of the covenants and
obligations of the Company contained in the Securities of one or more series
and in this Indenture or any supplemental indenture;

 

(e)        to
evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to one or more series of Securities and to add to or
change any of the provisions of this Indenture as shall be necessary for or
facilitate the administration of the trusts hereunder by more than one Trustee,
pursuant to the requirements of Section 11.06(c);

 

(f)         to
secure any series of Securities;

 

60

 

(g)        to
evidence any changes to this Indenture pursuant to Sections 11.05, 11.06 or
11.07 hereof as permitted by the terms thereof;

 

(h)        to
cure any ambiguity or to correct or supplement any provision contained herein
or in any indenture supplemental hereto which may be defective or inconsistent
with any other provision contained herein or in any supplemental indenture;

 

(i)         to
add to or change or eliminate any provision of this Indenture as shall be necessary
or desirable in accordance with any amendments to the Trust Indenture Act;

 

(j)         to
add guarantors or co-obligors with respect to any series of Securities;

 

(k)        to
make any change in any series of Securities that does not adversely affect in
any material respect the interests of the Holders of such Securities;

 

(l)         to
provide for uncertificated securities in addition to certificated securities;

 

(m)       to
supplement any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the defeasance and discharge of any series of
Securities; provided that any such action shall not adversely affect the
interests of the Holders of Securities of such series or any other series of
Securities;

 

(n)        to
prohibit the authentication and delivery of additional series of Securities; or

 

(o)       
to establish the form and terms of Securities of any series as permitted in Section 3.01,
or to authorize the issuance of additional Securities of a series previously
authorized or to add to the conditions, limitations or restrictions on the
authorized amount, terms or purposes of issue, authentication or delivery of
the Securities of any series, as herein set forth, or other conditions,
limitations or restrictions thereafter to be observed.

 

Subject to the provisions of Section 14.03,
the Trustee is authorized to join with the Company in the execution of any such
supplemental indenture, to make the further agreements and stipulations which may
be therein contained and to accept the conveyance, transfer, assignment, mortgage
or pledge of any property or assets thereunder.

 

Any supplemental indenture authorized by the
provisions of this Section 14.01 may be executed by the Company and the
Trustee without the consent of the Holders of any of the Securities at the time
Outstanding, notwithstanding any of the provisions of Section 14.02.

 

Section 14.02         With
Consent of Securityholders; Limitations.

 

(a)        With
the consent of the Holders (evidenced as provided in Article VIII) of a
majority in aggregate principal amount of the Outstanding Securities of each
series affected by such supplemental indenture voting separately, the Company
and the Trustee may, from time to time and at any time, enter into an indenture
or indentures supplemental hereto for the purpose of adding any provisions to
or changing in any manner or eliminating any provisions of this

 

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Indenture or of modifying in any manner the
rights of the Holders of the Securities of such series to be affected;
provided, however, that no such supplemental indenture shall, without the
consent of the Holder of each Outstanding Security of each such series affected
thereby,

 

(i)    change the Stated Maturity of the principal
of, or any installment of interest on, any Security, or reduce the principal
amount thereof or the interest thereon or any premium payable upon redemption
thereof, or extend the Stated Maturity of, or change the Currency in which the
principal of and premium, if any, or interest on such Security is denominated
or payable, or reduce the amount of the principal of an Original Issue Discount
Security that would be due and payable upon a declaration of acceleration of
the Maturity thereof pursuant to Section 7.02, or impair the right to
institute suit for the enforcement of any payment on or after the Stated
Maturity thereof (or, in the case of redemption, on or after the Redemption
Date), or materially adversely affect the economic terms of any right to
convert or exchange any Security as may be provided pursuant to Section 3.01;
or

 

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

 

(iii)  modify any of the provisions of this Section, Section 7.06
or Section 6.06, 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 6.06, or the deletion
of this proviso, in accordance with the requirements of Sections 11.06 and
14.01(f); or

 

(iv)  modify, without the written consent of the
Trustee, the rights, duties or immunities of the Trustee.

 

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

 

(c)        It
shall not be necessary for the consent of the Securityholders under this Section 14.02
to approve the particular form of any proposed supplemental indenture, but it
shall be sufficient if such consent shall approve the substance thereof.

 

(d)        The
Company may set a record date for purposes of determining the identity of the Holders
of each series of Securities entitled to give a written consent or waive

 

62

 

compliance by the Company as authorized or permitted
by this Section.  Such record date shall
not be more than 30 days prior to the first solicitation of such consent or
waiver or the date of the most recent list of Holders furnished to the Trustee
prior to such solicitation pursuant to Section 312 of the Trust Indenture
Act.

 

(e)        Promptly
after the execution by the Company and the Trustee of any supplemental
indenture pursuant to the provisions of this Section 14.02, the Company
shall mail a notice, setting forth in general terms the substance of such
supplemental indenture, to the Holders of Securities at their addresses as the
same shall then appear in the Register of the Company.  Any failure of the Company to mail such
notice, or any defect therein, shall not, however, in any way impair or affect
the validity of any such supplemental indenture.

 

Section 14.03         Trustee Protected (a).  Upon the request of the Company, accompanied
by the Officer’s Certificate and Opinion of Counsel required by Section 16.01
stating that the execution of such supplemental indenture is authorized or
permitted by this Indenture, and evidence reasonably satisfactory to the
Trustee of consent of the Holders if the supplemental indenture is to be
executed pursuant to Section 14.02, the Trustee shall join with the
Company in the execution of said supplemental indenture unless said
supplemental indenture affects the Trustee’s own rights, duties or immunities
under this Indenture or otherwise, in which case the Trustee may in its
discretion, but shall not be obligated to, enter into said supplemental
indenture.  The Trustee shall be fully
protected in relying upon such Officer’s Certificate and an Opinion of Counsel.

 

Section 14.04         Effect
of Execution of Supplemental Indenture.  Upon the execution of any supplemental indenture
pursuant to the provisions of this Article XIV, this Indenture shall be
deemed to be modified and amended in accordance therewith and, except as herein
otherwise expressly provided, the respective rights, limitations of rights,
obligations, duties and immunities under this Indenture of the Trustee, the
Company and the Holders of all of the Securities or of the Securities of any
series affected, as the case may be, shall thereafter be determined, exercised
and enforced hereunder subject in all respects to such modifications and
amendments, and all the terms and conditions of any such supplemental indenture
shall be and be deemed to be part of the terms and conditions of this Indenture
for any and all purposes.

 

Section 14.05         Notation
on or Exchange of Securities.  Securities
of any series authenticated and delivered after the execution of any
supplemental indenture pursuant to the provisions of this Article may bear
a notation in the form approved by the Trustee as to any matter provided for in
such supplemental indenture.  If the
Company or the Trustee shall so determine, new Securities so modified as to
conform, in the opinion of the Trustee and the Board of Directors of the
Company, to any modification of this Indenture contained in any such supplemental
indenture may be prepared and executed by the Company and authenticated and
delivered by the Trustee in exchange for the Securities then Outstanding in
equal aggregate principal amounts, and such exchange shall be made without cost
to the Holders of the Securities.

 

Section 14.06         Conformity
with TIA.  Every supplemental
indenture executed pursuant to the provisions of this Article shall
conform to the requirements of the Trust Indenture Act as then in effect.

 

63

 

ARTICLE XV

 

SUBORDINATION OF SECURITIES

 

Section 15.01         Agreement
to Subordinate. In the event a series of Securities is designated as
subordinated pursuant to Section 3.01, and except as otherwise provided in
a Company Order or in one or more indentures supplemental hereto, the Company,
for itself, its successors and assigns, covenants and agrees, and each Holder
of Securities of such series by his, her or its acceptance thereof, likewise
covenants and agrees, that the payment of the principal of (and premium, if
any) and interest, if any, on each and all of the Securities of such series is
hereby expressly subordinated, to the extent and in the manner hereinafter set
forth, in right of payment to the prior payment in full of all Senior Indebtedness.  In the event a series of Securities is not
designated as subordinated pursuant to Section 3.01(s), this Article XV
shall have no effect upon the Securities.

 

Section 15.02         Distribution
on Dissolution, Liquidation and Reorganization; Subrogation of Securities. Subject
to Section 15.01, upon any distribution of assets of the Company upon any
dissolution, winding up, liquidation or reorganization of the Company, whether
in bankruptcy, insolvency, reorganization or receivership proceedings or upon
an assignment for the benefit of creditors or any other marshalling of the
assets and liabilities of the Company or otherwise (subject to the power of a
court of competent jurisdiction to make other equitable provision reflecting
the rights conferred in this Indenture upon the Senior Indebtedness and the
holders thereof with respect to the Securities and the holders thereof by a
lawful plan of reorganization under applicable bankruptcy law):

 

(a)        the
holders of all Senior Indebtedness shall be entitled to receive payment in full
of the principal thereof (and premium, if any) and interest due thereon before
the Holders of the Securities are entitled to receive any payment upon the
principal (or premium, if any) or interest, if any, on Indebtedness evidenced
by the Securities; and

 

(b)        any
payment or distribution of assets of the Company of any kind or character,
whether in cash, property or securities, to which the Holders of the Securities
or the Trustee would be entitled except for the provisions of this Article XV
shall be paid by the liquidation trustee or agent or other Person making such
payment or distribution, whether a trustee in bankruptcy, a receiver or
liquidating trustee or otherwise, directly to the holders of Senior
Indebtedness or their representative or representatives or to the trustee or
trustees under any indenture under which any instruments evidencing any of such
Senior Indebtedness may have been issued, ratably according to the aggregate
amounts remaining unpaid on account of the principal of (and premium, if any)
and interest on the Senior Indebtedness held or represented by each, to the
extent necessary to make payment in full of all Senior Indebtedness remaining
unpaid, after giving effect to any concurrent payment or distribution to the
holders of such Senior Indebtedness; and

 

(c)        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 or the
Holders of the Securities before all Senior Indebtedness is paid in full, such
payment or distribution shall be

 

64

 

paid over, upon written notice to a
Responsible Officer of the Trustee, to the holder of such Senior Indebtedness
or his, her or its representative or representatives or to the trustee or
trustees under any indenture under which any instrument evidencing any of such
Senior Indebtedness may have been issued, ratably as aforesaid, as calculated
by the Company, for application to payment of all Senior Indebtedness remaining
unpaid until all such Senior Indebtedness shall have been paid in full, after
giving effect to any concurrent payment or distribution to the holders of such
Senior Indebtedness.

 

(d)        Subject
to the payment in full of all Senior Indebtedness, the Holders of the
Securities shall be subrogated to the rights of the holders of Senior
Indebtedness (to the extent that distributions otherwise payable to such holder
have been applied to the payment of Senior Indebtedness) to receive payments or
distributions of cash, property or securities of the Company applicable to
Senior Indebtedness until the principal of (and premium, if any) and interest,
if any, on the Securities shall be paid in full and no such payments or
distributions to the Holders of the Securities of cash, property or securities
otherwise distributable to the holders of Senior Indebtedness shall, as between
the Company, its creditors other than the holders of Senior Indebtedness, and
the Holders of the Securities be deemed to be a payment by the Company to or on
account of the Securities. It is understood that the provisions of this Article XV
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
Indebtedness, on the other hand. Nothing contained in this Article XV 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
Indebtedness, and the Holders of the Securities, the obligation of the Company,
which is unconditional and absolute, to pay to the Holders of the Securities
the principal of (and premium, if any) and interest, if any, on the Securities
as and when the same shall become due and payable in accordance with their
terms, or to affect the relative rights of the Holders of the Securities and
creditors of the Company other than the holders of Senior Indebtedness, nor
shall anything herein or in the Securities prevent the Trustee or the Holder of
any Security from exercising all remedies otherwise permitted by applicable law
upon default under this Indenture, subject to the rights, if any, under this Article XV
of the holders of Senior Indebtedness 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 XV,
the Trustee, subject to the provisions of Section 15.05, shall be entitled
to conclusively rely upon a certificate of the liquidating trustee or agent or
other person making any distribution to the Trustee for the purpose of
ascertaining the Persons entitled to participate in such distribution, the
holders of Senior Indebtedness and other indebtedness of the Company, the
amount thereof or payable thereon, the amount or amounts paid or distributed
thereof and all other facts pertinent thereto or to this Article XV.

 

Section 15.03         No
Payment on Securities in Event of Default on Senior Indebtedness. Subject
to Section 15.01, no payment by the Company on account of principal (or
premium, if any), sinking funds or interest, if any, on the Securities shall be
made at anytime if: (i) a default on Senior Indebtedness exists that
permits the holders of such Senior Indebtedness to accelerate its maturity and (ii) the
default is the subject of judicial proceedings or the Company has received
notice of such default. The Company may resume payments on the Securities when
full payment of amounts then due for principal (premium, if any), sinking funds
and interest on Senior Indebtedness has been made or duly provided for in money
or money’s worth.

 

65

 

In the event that, notwithstanding the
foregoing, any payment shall be received by the Trustee when such payment is
prohibited by the preceding paragraph of this Section 15.03, such payment
shall be held in trust for the benefit of, and shall be paid over or delivered
to, the holders of such Senior Indebtedness or their respective
representatives, or to the trustee or trustees under any indenture pursuant to
which any of such Senior Indebtedness may have been issued, as their respective
interests may appear, as calculated by the Company, but only to the extent that
the holders of such Senior Indebtedness (or their representative or
representatives or a trustee) notify the Trustee in writing within 90 days of
such payment of the amounts then due and owing on such Senior Indebtedness and
only the amounts specified in such notice to the Trustee shall be paid to the
holders of such Senior Indebtedness.

 

Section 15.04         Payments
on Securities Permitted. Subject to Section 15.01, nothing contained
in this Indenture or in any of the Securities shall (a) affect the
obligation of the Company to make, or prevent the Company from making, at any
time except as provided in Sections 15.02 and 15.03, payments of principal of
(or premium, if any) or interest, if any, on the Securities or (b) prevent
the application by the Trustee of any moneys or assets deposited with it
hereunder to the payment of or on account of the principal of (or premium, if
any) or interest, if any, on the Securities, unless a Responsible Officer of
the Trustee shall have received at its Corporate Trust Office written notice of
any fact prohibiting the making of such payment from the Company or from the
holder of any Senior Indebtedness or from the trustee for any such holder,
together with proof satisfactory to the Trustee of such holding of Senior
Indebtedness or of the authority of such trustee more than two Business Days
prior to the date fixed for such payment.

 

Section 15.05         Authorization
of Securityholders to Trustee to Effect Subordination. Subject to Section 15.01,
each Holder of Securities by his acceptance thereof authorizes and directs the
Trustee on his, her or its behalf to take such action as may be necessary or
appropriate to effectuate the subordination as provided in this Article XV
and appoints the Trustee his attorney-in-fact for any and all such purposes.

 

Section 15.06         Notices
to Trustee. The Company shall give prompt written notice to a Responsible
Officer of the Trustee of any fact known to the Company that would prohibit the
making of any payment of monies or assets to or by the Trustee in respect of
the Securities of any series pursuant to the provisions of this Article XV.  Subject to Section 15.01, notwithstanding
the provisions of this Article XV or any other provisions of this
Indenture, neither the Trustee nor any Paying Agent (other than the Company)
shall be charged with knowledge of the existence of any Senior Indebtedness or
of any fact which would prohibit the making of any payment of moneys or assets
to or by the Trustee or such Paying Agent, unless and until a Responsible
Officer of the Trustee or such Paying Agent shall have received (in the case of
a Responsible Officer of the Trustee, at the Corporate Trust Office of the
Trustee) written notice thereof from the Company or from the holder of any
Senior Indebtedness or from the trustee for any such holder, together with
proof satisfactory to the Trustee of such holding of Senior Indebtedness or of
the authority of such trustee and, prior to the receipt of any such written
notice, the Trustee shall be entitled in all respects conclusively to presume
that no such facts exist; provided, however, that if at least two Business Days
prior to the date upon which by the terms hereof any such moneys or assets may
become payable for any purpose (including, without limitation, the payment of
either the principal (or premium, if any) or interest, if any, on

 

66

 

any Security)
a Responsible Officer of the Trustee shall not have received with respect to
such moneys or assets the notice provided for in this Section 15.06, then,
anything herein contained to the contrary notwithstanding, the Trustee shall
have full power and authority to receive such moneys or assets 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 within two Business Days
prior to such date. The Trustee shall be entitled to rely on the delivery to it
of a written notice by a Person representing himself to be a holder of Senior
Indebtedness (or a trustee on behalf of such holder) to establish that such a
notice has been given by a holder of Senior Indebtedness or a trustee 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 Indebtedness to participate in any payment or distribution
pursuant to this Article XV, the Trustee may request such Person to
furnish evidence to the reasonable satisfaction of the Trustee as to the amount
of Senior Indebtedness 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 XV 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 15.07         Trustee
as Holder of Senior Indebtedness. Subject to Section 15.01, the
Trustee in its individual capacity shall be entitled to all the rights set
forth in this Article XV in respect of any Senior Indebtedness at any time
held by it to the same extent as any other holder of Senior Indebtedness and
nothing in this Indenture shall be construed to deprive the Trustee of any of
its rights as such holder. Nothing in this Article XV shall apply to
claims of, or payments to, the Trustee under or pursuant to Sections 7.05 or
11.01.

 

Section 15.08         Modifications
of Terms of Senior Indebtedness. Subject to Section 15.01, any renewal
or extension of the time of payment of any Senior Indebtedness or the exercise
by the holders of Senior Indebtedness of any of their rights under any
instrument creating or evidencing Senior Indebtedness, including, without
limitation, the waiver of default thereunder, may be made or done all without
notice to or assent from the Holders of the Securities or the Trustee. No
compromise, alteration, amendment, modification, extension, renewal or other
change of, or waiver, consent or other action in respect of, any liability or
obligation under or in respect of, or of any of the terms, covenants or
conditions of any indenture or other instrument under which any Senior
Indebtedness is outstanding or of such Senior Indebtedness, whether or not such
release is in accordance with the provisions of any applicable document, shall
in any way alter or affect any of the provisions of this Article XV or of
the Securities relating to the subordination thereof.

 

Section 15.09         Reliance
on Judicial Order or Certificate of Liquidating Agent. Subject to Section 15.01,
upon any payment or distribution of assets of the Company referred to in this Article XV,
the Trustee and the Holders of the Securities shall be entitled to conclusively
rely upon any order or decree entered by any court of competent jurisdiction in
which such insolvency, bankruptcy, receivership, liquidation, reorganization,
dissolution, winding up or similar case or proceeding is pending, or a
certificate of the trustee in bankruptcy, liquidating trustee, custodian,
receiver, assignee for the benefit of creditors, agent or other person making
such payment or distribution, delivered to the Trustee or to the Holders of
Securities, for the purpose of ascertaining the Persons entitled to participate
in such payment or distribution, the

 

67

 

holders of
Senior Indebtedness 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 XV.

 

Section 15.10         Satisfaction
and Discharge; Defeasance and Covenant Defeasance. Subject to Section 15.01,
amounts and U.S. Government Obligations deposited in trust with the Trustee
pursuant to and in accordance with Article XII and not, at the time of
such deposit, prohibited to be deposited under Sections 15.02 or 15.03 shall
not be subject to this Article XV.

 

Section 15.11         Trustee
Not Fiduciary for Holders of Senior Indebtedness.  With respect to the holders of Senior
Indebtedness, the Trustee undertakes to perform or observe only such of its
covenants and obligations as are specifically set forth in this Article XV,
and no implied covenants or obligations with respect to the holders of Senior
Indebtedness 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 Indebtedness.  The Trustee shall not be liable to any such
holder if it shall pay over or distribute to or on behalf of Holders of
Securities or the Company, or any other Person, moneys or assets to which any
holder of Senior Indebtedness shall be entitled by virtue of this Article XV
or otherwise.

 

ARTICLE XVI

 

MISCELLANEOUS PROVISIONS

 

Section 16.01         Certificates
and Opinions as to Conditions Precedent.

 

(a)        Upon
any request or application by the Company to the Trustee to take any action
under any of the provisions of this Indenture, the Company shall furnish to the
Trustee an Officer’s 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 have been complied with, except that in the case
of any such application or demand as to which the furnishing of such document
is specifically required by any provision of this Indenture relating to such
particular application or demand, no additional certificate or opinion need be
furnished.

 

(b)        Each
certificate or opinion provided for in this Indenture and delivered to the
Trustee with respect to compliance with a condition or covenant provided for in
this Indenture (other than the certificates provided pursuant to Section 6.05
of this Indenture) shall include (i) a statement that the Person giving
such certificate or opinion has read such covenant or condition; (ii) a
brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion
are based; (iii) a statement that, in the view or opinion of such Person,
he or she has made such examination or investigation as is necessary to enable
such Person to express an informed view or opinion as to whether or not such
covenant or condition has been complied with; and (iv) a statement as to
whether or not, in the view or opinion of such Person, such condition or
covenant has been complied with.

 

68

 

(c)        Any
certificate, statement or opinion of an officer of the Company may be based,
insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which his or her certificate, statement or
opinion is based are erroneous.  Any
certificate, statement or opinion of counsel may be based, insofar as it
relates to factual matters, upon a certificate, statement 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 knows, or in the exercise of reasonable care should
know, that the certificate, statement or opinion or representations with respect
to such matters are erroneous.

 

(d)        Any
certificate, statement or opinion of an officer of the Company or of counsel to
the Company 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, unless such officer or counsel, as the case may be, knows, or in
the exercise of reasonable care should know, that the certificate or opinion or
representations with respect to the accounting matters upon which his or her
certificate, statement or opinion may be based are erroneous.  Any certificate or opinion of any firm of
independent registered public accountants filed with the Trustee shall contain
a statement that such firm is independent.

 

(e)        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.

 

(f)         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 16.02         Trust
Indenture Act Controls.  If and to
the extent that any provision of this Indenture limits, qualifies or conflicts
with the duties imposed by, or another provision included in this Indenture
which is required to be included in this Indenture by any of the provisions of
Sections 310 to 318, inclusive, of the Trust Indenture Act, such imposed duties
or incorporated provision shall control.

 

Section 16.03         Notices
to the Company and Trustee.  Any notice
or demand authorized by this Indenture to be made upon, given or furnished to,
or filed with, the Company or the Trustee shall be sufficiently made, given,
furnished or filed for all purposes if it shall be mailed, delivered or
telefaxed to:

 

(a)        the
Company, at 225 North Shore Drive, Pittsburgh, Pennsylvania, 15212, Attention:
General Counsel, Facsimile No.: 412-553-5970, or by email to treasury@eqt.com
or at such other address or facsimile number as may have been furnished in
writing to the Trustee by the Company.

 

69

 

(b)        the
Trustee, at the Corporate Trust Office of the Trustee, Attention: Corporate
Trust Administration.

 

Any such notice, demand or
other document shall be in the English language.

 

Section 16.04         Notices
to Securityholders; Waiver.  Any
notice required or permitted to be given to Securityholders shall be
sufficiently given (unless otherwise herein expressly provided),

 

(a)        if
to Holders, if given in writing by first class mail, postage prepaid, to such Holders
at their addresses as the same shall appear on the Register of the Company.

 

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

 

(c)        Where
this Indenture 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 on such waiver.  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, and any notice that is mailed in the manner herein provided
shall be conclusively presumed to have been duly given.  In any case where notice to Holders is given
by publication, any defect in any notice so published as to any particular Holder
shall not affect the sufficiency of such notice with respect to other Holders,
and any notice that is published in the manner herein provided shall be
conclusively presumed to have been duly given.

 

Section 16.05        Legal
Holiday.  Unless otherwise specified
pursuant to Section 3.01, in any case where any Interest Payment Date,
Redemption Date or Maturity of any Security of any series shall not be a Business
Day at any Place of Payment for the Securities of that series, then payment of
principal and premium, if any, or interest need not be made at such Place of
Payment on such date, but may be made on the next succeeding Business Day at
such Place of Payment with the same force and effect as if made on such
Interest Payment Date, Redemption Date or Maturity and no interest shall accrue
on such payment for the period from and after such Interest Payment Date,
Redemption Date or Maturity, as the case may be, to such Business Day if such
payment is made or duly provided for on such Business Day.

 

Section 16.06         Effects
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 16.07         Successors
and Assigns.  All covenants and
agreements in this Indenture by the parties hereto shall bind their respective
successors and assigns and inure to the benefit of their permitted successors
and assigns, whether so expressed or not.

 

70

 

Section 16.08         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 16.09         Benefits
of Indenture.  Nothing in this
Indenture expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or to give to, any
Person or corporation other than the parties hereto and their successors and
the Holders of the Securities any benefit or any right, remedy or claim under
or by reason of this Indenture or any covenant, condition, stipulation, promise
or agreement hereof, and all covenants, conditions, stipulations, promises and
agreements in this Indenture contained shall be for the sole and exclusive
benefit of the parties hereto and their successors and of the Holders of the
Securities.

 

Section 16.10         Counterparts
Originals.  This Indenture 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.

 

Section 16.11         Governing
Law; Waiver of Trial by Jury.  This
Indenture and the Securities shall be deemed to be contracts made under the law
of the State of New York, and for all purposes shall be governed by and
construed in accordance with the law of said State.

 

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

 

Section 16.12         Force Majeure. 
In no event shall the Trustee be responsible or liable for any failure
or delay in the performance of its obligations hereunder arising out of or
caused by, directly or indirectly, forces beyond its control, including,
without limitation, strikes, work stoppages, accidents, acts of war or
terrorism, civil or military disturbances, nuclear or natural catastrophes or
acts of God, and interruptions, loss or malfunctions of utilities,
communications or computer (software and hardware) services; it being
understood that the Trustee shall use reasonable efforts which are consistent
with accepted practices in the banking industry to resume performance as soon
as practicable under the circumstances.

 

71

 

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

 

 

	
   

  	
  EQUITABLE RESOURCES, INC.,

  
	
   

  	
  as Issuer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Philip P. Conti

  
	
   

  	
   

  	
  Name:

  	
  Philip P. Conti

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and

  
	
   

  	
   

  	
   

  	
  Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mary K. LaGumina

  
	
   

  	
   

  	
  Name:

  	
  Mary K. LaGumina

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

Signature
Page to IndentureExhibit 4.2

EXECUTION COPY

 

EQUITABLE RESOURCES, INC.

as Issuer

and

THE BANK OF NEW YORK,

as Trustee

 

FIRST SUPPLEMENTAL INDENTURE

Dated as of March 18,
2008

to

INDENTURE

Dated as of March 18,
2008

 

6.50% Senior Notes due 2018

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 1.

  
	
   

  
	
  DEFINITIONS

  
	
   

  
	
  Section 1.1.

  	
   

  	
  Definition
  of Terms

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 2.

  
	
   

  
	
  GENERAL TERMS
  AND CONDITIONS OF THE SENIOR NOTES

  
	
   

  
	
  Section 2.1.

  	
   

  	
  Designation
  and Principal Amount

  	
   

  	
  4

  
	
  Section 2.2.

  	
   

  	
  Maturity

  	
   

  	
  4

  
	
  Section 2.3.

  	
   

  	
  Further
  Issues

  	
   

  	
  4

  
	
  Section 2.4.

  	
   

  	
  Form and
  Payment

  	
   

  	
  4

  
	
  Section 2.5.

  	
   

  	
  Global
  Securities

  	
   

  	
  4

  
	
  Section 2.6.

  	
   

  	
  Interest

  	
   

  	
  4

  
	
  Section 2.7.

  	
   

  	
  Authorized
  Denominations

  	
   

  	
  4

  
	
  Section 2.8.

  	
   

  	
  Redemption

  	
   

  	
  4

  
	
  Section 2.9.

  	
   

  	
  Limitation
  on Liens

  	
   

  	
  5

  
	
  Section 2.10.

  	
   

  	
  Limitation
  on Sale and Leaseback Transactions

  	
   

  	
  7

  
	
  Section 2.11.

  	
   

  	
  Merger,
  Consolidation and Sale of Assets

  	
   

  	
  8

  
	
  Section 2.12.

  	
   

  	
  Events of
  Default

  	
   

  	
  8

  
	
  Section 2.13.

  	
   

  	
  Appointment
  of Agents

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 3.

  
	
   

  
	
  FORM OF
  NOTES

  
	
   

  
	
  Section 3.1.

  	
   

  	
  Form of
  Senior Notes

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 4.

  
	
   

  
	
  ORIGINAL ISSUE
  OF NOTES

  
	
   

  
	
  Section 4.1.

  	
   

  	
  Original
  Issue of Senior Notes

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE 5.

  
	
   

  
	
  MISCELLANEOUS

  
	
   

  
	
  Section 5.1.

  	
   

  	
  Ratification
  of Indenture

  	
   

  	
  10

  
	
  Section 5.2.

  	
   

  	
  Trustee Not
  Responsible for Recitals

  	
   

  	
  10

  
	
  Section 5.3.

  	
   

  	
  Governing Law

  	
   

  	
  11

  
	
  Section 5.4.

  	
   

  	
  Separability

  	
   

  	
  11

  

 

i

 

	
  Section 5.5.

  	
   

  	
  Counterparts

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  EXHIBIT A – Form of Senior Notes

  	
   

  	
  A-1

  

 

ii

 

FIRST SUPPLEMENTAL INDENTURE,
dated as of March 18, 2008 (this “Supplemental Indenture”), between
Equitable Resources, Inc., a corporation duly organized and existing under
the laws of the Commonwealth of Pennsylvania, having its principal office at
225 North Shore Drive, Pittsburgh, Pennsylvania 15212 (the “Company”), and The
Bank of New York, a New York banking corporation, as trustee (the “Trustee”).

 

WHEREAS, the
Company executed and delivered the indenture, dated as of March 18, 2008,
to the Trustee (the “Base Indenture and as hereby supplemented, the “Indenture”),
to provide for the issuance of the Company’s debt securities (the “Securities”),
to be issued in one or more series;

 

WHEREAS,
pursuant to the terms of the Base Indenture, the Corporation desires to provide
for the establishment of a new series of its notes under the Base Indenture to
be known as its “6.50% Senior Notes due 2018” (the “Senior Notes”), the form
and substance and the terms, provisions and conditions thereof to be set forth
as provided in the Base Indenture and this Supplemental Indenture;

 

WHEREAS, the
Board of Directors of the Company pursuant to resolutions duly adopted on January 23,
2008, have duly authorized the issuance of the Senior Notes, and has authorized
the proper officers of the Company to execute any and all appropriate documents
necessary or appropriate to effect each such issuance;

 

WHEREAS, this
Supplemental Indenture is being entered into pursuant to the provisions of Section 14.01
of the Base Indenture;

 

WHEREAS, the
Company has requested that the Trustee execute and deliver this Supplemental
Indenture; and

 

WHEREAS, all
things necessary to make this Supplemental Indenture a valid agreement of the
Company, in accordance with its terms, and to make the Senior Notes, when
executed by the Company and authenticated and delivered by the Trustee, the
valid obligations of the Company, have been performed, and the execution and
delivery of this Supplemental Indenture has been duly authorized in all
respects;

 

NOW THEREFORE,
in consideration of the premises and the purchase and acceptance of the Senior
Notes by the Holders thereof, and for the purpose of setting forth, as provided
in the Base Indenture, the forms and terms of the Senior Notes, the Company
covenants and agrees, with the Trustee, as follows:

 

 

ARTICLE 1.

 DEFINITIONS

 

Section 1.1.            Definition
of Terms.  Unless the context
otherwise requires:

 

(a)           each
term defined in the Base Indenture has the same meaning when used in this
Supplemental Indenture;

 

(b)           the
singular includes the plural and vice versa; and

 

(c)           headings
are for convenience of reference only and do not affect interpretation.

 

(d)           a
reference to a Section or Article is to a Section or Article of
this Supplemental Indenture unless otherwise indicated.

 

(e)           The
following terms have the meanings given to them in this Section 1.1(d):

 

(i)            “Attributable Debt” in respect of a
Sale and Leaseback Transaction means, as of any particular time, the present
value (discounted at the rate of interest implicit in the terms of the lease
involved in such Sale and Leaseback Transaction, as determined in good faith by
the Company) of the obligation of the lessee thereunder for net rental payments
(excluding, however, any amounts required to be paid by such lessee, whether or
not designated as rent or additional rent, on account of maintenance and
repairs, services, insurance, taxes, assessments, water rates or similar
charges and any amounts required to be paid by such lessee thereunder
contingent upon monetary inflation or the amount of sales, maintenance and
repairs, insurance, taxes, assessments, water rates or similar charges) during
the remaining term of such lease (including any period for which such lease has
been extended or may, at the option of the lessor, be extended).

 

(ii)           “Consolidated Net Tangible Assets”
means the aggregate amount of assets of the Company and its consolidated
Subsidiaries (less applicable reserves) after deducting therefrom (x) all
goodwill, trade names, trademarks, patents, unamortized debt discount and
expense and other like intangibles and (y) all current liabilities except
for current maturities of long-term debt, current maturities of capitalized
lease obligations, indebtedness for borrowed money having a maturity of less
than 12 months from the date of the most recent audited consolidated balance
sheet of the Company, but which by its terms is renewable or extendable beyond
12 months from such date at the option of the 

 

2

 

borrower and deferred
income taxes which are classified as current liabilities, all as reflected in
the audited consolidated balance sheet contained in the Company’s most recent
annual report to its shareholders under Rule 14a-3 of the Exchange Act,
prior to the time as of which “Consolidated Net Tangible Assets” is being
determined.

 

(iii)          “Debt” means indebtedness for borrowed
money.

 

(iv)          “DTC” shall have the meaning assigned
to it in Section 2.5.

 

(v)           “Event of Default” shall have the
meaning assigned to it in Section 2.12.

 

(vi)          “Incurrence Time” shall have the
meaning assigned to it in Section 2.9(b).

 

(vii)         “Lien” means any mortgage, pledge,
security interest or lien.

 

(viii)        “Principal Property” means any
manufacturing plant or production, transportation or marketing facility or
other similar facility located within the United States (other than its
territories and possessions) and owned by, or leased to, the Company or any
Restricted Subsidiary, the book value of the real property, plant and equipment
of which (as shown, without deduction of any depreciation reserves, on the
books of the owner or owners) is not less than 1.5% of Consolidated Net
Tangible Assets as of the date on which such facility is acquired or a
leasehold interest therein is acquired.

 

(ix)           “Restricted Subsidiary” means any Subsidiary
substantially all the property of which is located, or substantially all the
business of which is carried on, within the United States (other than its
territories and possessions) which shall at the time, directly or indirectly,
through one or more Subsidiaries or in combination with one or more other
Subsidiaries or the Company, own or be a lessee of a Principal Property.

 

(x)            “Sale and Leaseback Transaction”
shall have the meaning assigned to it in Section 2.10.

 

(xi)           “Subsidiary” means, with respect to
the Company, a corporation of which more than 50% of the total voting power of
the capital stock entitled (without regard to the occurrence of any
contingency) to vote in the election of its directors is owned, directly or
indirectly, by the Company or by one or more other Subsidiaries or by the
Company and one or more other Subsidiaries.

 

3

 

ARTICLE 2.

 GENERAL TERMS AND CONDITIONS OF THE
SENIOR NOTES

 

Section 2.1.            Designation
and Principal Amount.  There is
hereby authorized and established a new series of Securities under the Base
Indenture, designated as the “6.50% Senior Notes due 2018”, which is not
limited in aggregate principal amount. 
The initial aggregate principal amount of the Senior Notes to be issued
under this Supplemental Indenture shall be limited to $500,000,000.  Any additional amounts of such series to be
issued shall be set forth in a Company Order.

 

Section 2.2.            Maturity.  The stated maturity of principal for the
Senior Notes will be April 1, 2018.

 

Section 2.3.            Further
Issues.  The Company may from time to
time, without the consent of the Holders of the Senior Notes, issue additional
notes of such series.  Any such
additional notes will have the same ranking, interest rate, maturity date and
other terms as the Senior Notes.  Any
such additional notes, together with the Senior Notes herein provided for, will
constitute a single series of Securities under the Indenture.

 

Section 2.4.            Form of
Payment.  Principal of, premium, if
any, and interest on the Senior Notes shall be payable in U.S. dollars.

 

Section 2.5.            Global
Securities.  Upon the original
issuance, the Senior Notes will be represented by one or more Global
Securities.  The Corporation will issue
the Senior Notes in denominations of $2,000 and in integral multiples of $1,000
in excess thereof and will deposit the Global Securities with the Trustee as
custodian for The Depository Trust Company (“DTC”), in New York, New York, and
register the Global Securities in the name of DTC or its nominee.

 

Section 2.6.            Interest.  The Senior Notes will bear interest (computed
on the basis of a 360-day year consisting of twelve 30-day months) from March 18,
2008 at the rate of 6.50% per annum, payable semiannually in arrears; interest
payable on each interest payment date will include interest accrued from March 18,
2008, or from the most recent interest payment date to which interest has been
paid or duly provided for; the interest payment dates on which such interest
shall be payable are April 1 and October 1, commencing on October 1,
2008; and the record date for the interest payable on any interest payment date
is the close of business on March 15 or September 15, as the case may
be, next preceding the relevant Interest Payment Date.

 

Section 2.7.            Authorized
Denominations.  The Senior Notes
shall be issuable in denominations of $2,000 and in integral multiples of
$1,000 in excess thereof.

 

Section 2.8.            Redemption.  The Senior Notes are subject to redemption at
the option of the Company as set forth in the form of Senior Note attached
hereto as Exhibit A.

 

4

 

Section 2.9.            Limitation
on Liens.

 

(a)           Except
as otherwise provided in clauses (i) through (ix) below or in
subsection (b) of this section, the Company shall not, and shall not
permit any Restricted Subsidiary to, issue, assume or guarantee any Debt
secured by a Lien upon any Principal Property of the Company or of any
Restricted Subsidiary or upon any shares of stock or Debt issued by any Restricted
Subsidiary, whether now owned or hereafter acquired, without in any such case
effectively providing that the Senior Notes together with, if the Company shall
so determine, any other indebtedness of or guaranty by the Company or such
Restricted Subsidiary then existing or thereafter created which is not
subordinated to the Senior Notes) shall be secured equally and ratably with
(or, at the option of the Company, prior to) such secured Debt, so long as such
Debt shall be so secured; provided, however, that nothing in this Section 2.9
shall prevent, restrict or apply to (and there shall be excluded from secured
Debt in any computation under this Section 2.9) Debt secured by:

 

(i)            Liens on property of, or shares of
stock or Debt issued by, any Subsidiary existing at the time such Subsidiary
becomes a Restricted Subsidiary; provided, that such Lien shall not have been
incurred in connection with the transfer by the Company or a Restricted
Subsidiary of a Principal Property to such Subsidiary unless the Company,
within 180 days of the effective date of such transfer, applies or causes a
Restricted Subsidiary to apply an amount equal to the fair value, as determined
by the Board of Directors, of such Principal Property at the time of such
transfer, to the retirement of Senior Notes or other Debt of the Company (other
than Debt subordinated to the Senior Notes), or Debt of any Restricted
Subsidiary (other than Debt owed to the Company or any Restricted Subsidiary),
having a stated maturity (x) more than 12 months from the date of such
application or (y) which is extendable at the option of the obligor
thereon to a date more than 12 months from the date of such application;

 

(ii)           Liens on any property, shares of
stock or Debt existing at the time of acquisition thereof by the Company or a
Restricted Subsidiary (including acquisition through merger or consolidation)
or Liens to secure the payment of all or any part of the purchase price or
construction cost thereof or securing any Debt incurred prior to, at the time
of, or within 180 days after, the acquisition of such property, shares of stock
or Debt or the completion of any such construction, whichever is later, for the
purpose of financing all or any part of the purchase price or construction cost
thereof;

 

(iii)          Liens on any property to secure all or
any part of the cost of development, construction, alteration, repair or
improvement of all or any portion of such property, or to secure Debt incurred
prior to, at the time of, or within 180 days after, the completion of such
development, construction, alteration, repair or improvement, whichever is
later, for the purpose of financing all or any part of such cost;

 

(iv)          Liens which secure Debt owed by a
Restricted Subsidiary to the Company or to another Restricted Subsidiary or by
the Company to a Restricted Subsidiary so long as the Debt is held by the
Company or a Restricted Subsidiary;

 

5

 

(v)           Liens securing indebtedness of a
corporation or other Person which becomes a successor of the Company in
accordance with the provisions of Section 6.04 of the Base Indenture and Section 2.11
hereof other than (x) in connection with the Holding Company
Reorganization and (y) Debt incurred by such corporation or other Person
in connection with a consolidation, merger or sale of assets in accordance with
Section 6.04 of the Base Indenture and Section 2.11 hereof;

 

(vi)          Liens on property of the Company or a
Restricted Subsidiary in favor of the United States or any state thereof, or any
department, agency or instrumentality or political subdivision of the United
States or any state thereof, or in favor of any other country or any political
subdivision thereof, to secure partial, progress, advance or other payments
pursuant to any contract or statute or to secure any indebtedness incurred or
guaranteed for the purpose of financing all or any part of the purchase price
or the cost of construction, alteration, repair or improvement of the property
subject to such Liens (including but not limited to Liens incurred in
connection with pollution control, industrial revenue or similar financing), or
in favor of any trustee or mortgagee for the benefit of holders of indebtedness
of any such entity incurred for any such purpose;

 

(vii)         Liens securing Debt which is payable,
both with respect to principal and interest, solely out of the proceeds of oil,
gas, coal or other minerals to be produced from the property subject thereto
and to be sold or delivered by the Company or a Subsidiary, including any
interest of the character commonly referred to as a “production payment”;

 

(viii)        Liens created or assumed by a Subsidiary
on oil, gas, coal or other mineral property, owned or leased by a Subsidiary,
to secure Debt of such Subsidiary for the purpose of developing such property,
including any interest of the character commonly referred to as a “production
payment”; provided, however, that neither the Company nor any Subsidiary shall
assume or guarantee such Debt or otherwise be liable in respect thereof; and

 

(ix)           any extension, renewal or replacement
(or successive extensions, renewals or replacements), in whole or in part, of
any Lien referred to in the foregoing clauses (i) to (viii), inclusive, or
of any Debt secured thereby; provided, that such extension, renewal or
replacement Lien shall be limited to all or any part of the same property that
secured the Lien extended, renewed or replaced (plus any improvements and
construction on such property) and shall secure no larger amount of Debt than
that which had been so secured at the time of such extension, renewal or
replacement and, in the case of clause (iv), that the Debt being secured
thereby is being secured for the same type of Person as the Debt being
replaced.

 

6

 

(b)           Notwithstanding
the foregoing provisions of this Section 2.9, the Company and any one or
more Restricted Subsidiaries may issue, assume or guarantee Debt secured by a
Lien which would otherwise be subject to the foregoing restrictions if at the
time it does so (the “Incurrence Time”) the aggregate amount of such Debt plus
all other Debt of the Company and its Restricted Subsidiaries secured by Liens
which would otherwise be subject to the foregoing restrictions after giving
effect to the retirement of any Debt which is currently being retired (not
including Debt permitted to be secured under clauses (i) through (ix) above),
plus the aggregate Attributable Debt (determined as of the Incurrence Time) of
Sale and Leaseback Transactions (other than Sale and Leaseback Transactions
permitted by subsections (a) and (b) of Section 2.10) entered
into after the date of this Supplemental Indenture and in existence at the
Incurrence Time (less the aggregate amount of proceeds of such Sale and
Leaseback Transactions which shall have been applied in accordance with
subsection (c) of Section 2.10), does not exceed 10% of Consolidated
Net Tangible Assets.

 

Section 2.10.          Limitation
on Sale and Leaseback Transactions. 
The Company shall not, and shall not permit any Restricted Subsidiary
to, enter into any arrangement after March 18, 2008 with any bank,
insurance company or other lender or investor (other than the Company or
another Restricted Subsidiary) providing for the leasing as lessee by the
Company or a Restricted Subsidiary of any Principal Property (except a lease
for a term not to exceed three years by the end of which term it is intended
that the use of such Principal Property by the lessee will be discontinued and
a lease which secures or relates to industrial revenue or pollution control
bonds or similar financing), which was or is owned by the Company or a
Restricted Subsidiary and which has been or is to be sold or transferred by the
Company or a Restricted Subsidiary to such Person, more than 180 days after the
completion of construction and commencement of full operation of such property
by the Company or such Restricted Subsidiary, to such lender or investor or to
any Person to whom funds have been or are to be advanced by such lender or
investor on the security of such Principal Property (herein called a “Sale and
Leaseback Transaction”) unless:

 

(a)           the
Company or such Restricted Subsidiary would, at the time of entering into such
arrangement, be entitled pursuant to clauses (i) through (ix) of
subsection (a) of Section 2.9, without equally and ratably securing
the Senior Notes, to issue, assume or guarantee Debt secured by a Lien on such
Principal Property in the amount of the Attributable Debt arising from such
Sale and Leaseback Transaction; or

 

(b)           the
Attributable Debt of the Company and its Restricted Subsidiaries in respect of
such Sale and Leaseback Transaction and all other Sale and Leaseback
Transactions entered into after the date of this Supplemental Indenture (other
than such Sale and Leaseback Transactions as are permitted by subsection (a) or
(c) of this Section 2.10), plus the aggregate principal amount of
Debt secured by Liens on Principal Properties then outstanding (not including
any such Debt secured by Liens described in clauses (i) through (ix) of
subsection (a) of Section 2.9) which do not equally and ratably
secure the Senior Notes, would not exceed 10% of Consolidated Net Tangible
Assets; or

 

7

 

(c)           the
Company, within 180 days after any such sale or transfer, applies or causes a
Restricted Subsidiary to apply an amount equal to the greater of the net
proceeds of such sale or transfer or the fair value, as determined by the Board
of Directors, of the Principal Property so sold and leased back at the time of
entering into such Sale and Leaseback Transaction to the retirement of Senior
Notes or other Debt of the Company (other than Debt subordinated to the Senior
Notes), or Debt of any Restricted Subsidiary (other than Debt owed to the
Company or any Restricted Subsidiary), having a stated maturity (i) more
than 12 months from the date of such application or (ii) which is
extendable at the option of the obligor thereon to a date more than 12 months
from the date of such application; provided, that the amount to be so applied
shall be reduced by (x) the principal amount of Senior Notes delivered to
the Trustee for retirement and cancellation within 180 days after such sale or
transfer, and (y) the principal amount of any such Debt of the Company or
a Restricted Subsidiary other than Senior Notes voluntarily retired by the
Company or a Restricted Subsidiary within 180 days after such sale or
transfer.  Notwithstanding the foregoing,
no retirement referred to in this subdivision (c) may be effected by
payment at Maturity.

 

Notwithstanding
the foregoing, where the Company or any Restricted Subsidiary is the lessee in
any Sale and Leaseback Transaction, Attributable Debt shall not include any
Debt resulting from the guarantee by the Company or any other Restricted
Subsidiary of the lessee’s obligation thereunder.

 

Section 2.11.          Merger, Consolidation and Sale of
Assets.  In addition to the covenants
provided in Section 6.04 of the Base Indenture, the Company will not
consolidate or merge with or into any other entity, or sell other than for cash
or lease its assets substantially as an entirety to another entity, or purchase
the assets of another entity substantially as an entirety, if, as a result of
any such consolidation, merger, sale, lease or purchase, properties or assets
of the Company would become subject to a lien which would not be permitted by
the Indenture, unless the Company or such successor Person, as the case may be,
takes such steps as are necessary to effectively secure the Senior Notes
equally and ratably with (or prior to) all indebtedness secured thereby.

 

Section 2.12.          Events
of Default.  The term “Event of
Default” with respect to the Senior Notes shall mean

 

(a)        the
failure of the Company to pay any installment of interest on the Senior Notes
when and as the same shall become payable, which failure shall have continued
unremedied for a period of 30 days;

 

(b)        the
failure of the Company to pay the principal of (and premium, if any, on) the
Senior Notes, when and as the same shall become payable, whether at maturity or
by call for redemption;

 

(c)        the
failure of the Company, subject to the provisions of Section 6.06 of the
Base Indenture, to perform any covenants or agreements contained in the
Indenture (other than a covenant or agreement which has been expressly included
in the Indenture solely for the benefit of a series of Securities other than
the Senior Notes and other than a covenant or agreement a default in the
performance of which is specifically addressed elsewhere in this

 

8

 

Section 2.12),
which failure shall not have been remedied, or without provision deemed to be
adequate for the remedying thereof having been made, for a period of 90 days
after written notice shall have been given to the Company by the Trustee or
shall have been given to the Company and the Trustee by Holders of 25% or more
in aggregate principal amount of the Senior Notes then Outstanding, specifying
such failure, requiring the Company to remedy the same and stating that such
notice is a “Notice of Default” hereunder;

 

(d)        default
under any mortgage, indenture or instrument under which there may be issued or
by which there may be secured or evidenced any indebtedness for money borrowed
by the Company or any Subsidiary in an aggregate principal amount in excess of
$100,000,000 whether such indebtedness now exists or shall hereafter be
created, which default shall constitute a failure to pay any portion of the
principal of such indebtedness when due and payable after the expiration of any
applicable grace period with respect thereto or shall have resulted in such
indebtedness becoming or being declared due and payable prior to the date on
which it would otherwise have become due and payable, without such indebtedness
having been discharged, or such acceleration having been rescinded or annulled,
which continues for a period of 30 days after written notice shall have been
given to the Company by the Trustee or shall have been given to the Company and
the Trustee by Holders of 25% or more in aggregate principal amount of the
Senior Notes then Outstanding, specifying such default, requiring the Company
to remedy the same and stating that such notice is a “Notice of Default”
hereunder;

 

(e)        the
entry by a court having jurisdiction in the premises of a decree or order for
relief in respect of the Company in an involuntary case under the federal
bankruptcy laws, as now or hereafter constituted, or any other applicable
federal or state bankruptcy, insolvency or other similar law now or hereafter
in effect, or appointing a receiver, liquidator, assignee, custodian, trustee
or sequestrator (or similar official) of the Company or of substantially all
the property of the Company or ordering the winding-up or liquidation of its
affairs and such decree or order shall remain unstayed and in effect for a
period of 90 consecutive days; or

 

(f)         the
commencement by the Company of a voluntary case under the federal bankruptcy
laws, as now or hereafter constituted, or any other applicable federal or state
bankruptcy, insolvency or other similar law now or hereafter in effect, or the
consent by the Company to the entry of an order for relief in an involuntary
case under any such law, or the consent by the Company to the appointment of or
taking possession by a receiver, liquidator, assignee, trustee, custodian or
sequestrator (or similar official) of the Company or of substantially all the
property of the Company or the making by it of an assignment for the benefit of
creditors or the admission by it in writing of its inability to pay its debts
generally as they become due, or the taking of corporate action by the Company
in furtherance of any action;

 

provided,
however, that no event described in clause (c) or (d) above shall
constitute an Event of Default hereunder until a Responsible Officer assigned
to and working in the Trustee’s corporate trust department has actual knowledge
thereof or until a written notice of any such event is received by the Trustee
at the Corporate Trust Office, and such notice refers to the facts underlying
such event, the Senior Notes generally, the Company and the Indenture.

 

9

 

Section 2.13.          Appointment
of Agents.  The Trustee will
initially be the Security Registrar and Paying Agent for the Senior Notes.

 

Section 2.14.          Defeasance
upon Deposit of Moneys or U.S. Government Obligations.  At the Company’s option, either (a) the
Company shall be deemed to have been Discharged from its obligations with
respect to the Senior Notes on the first day after the applicable conditions
set forth in Section 12.03 of the Base Indenture have been satisfied or (b) the
Company shall cease to be under any obligation to comply with any term,
provision or condition set forth in Section 6.04 of the Base Indenture and
Sections 2.9, 2.10 and 2.11 with respect to the Senior Notes at any time after
the applicable conditions set forth in Section 12.03 have been satisfied.

 

ARTICLE 3.

FORM OF NOTES

 

Section 3.1.            Form of
Senior Notes.  The Senior Notes and
the Trustee’s Certificate of Authentication to be endorsed thereon are to be
substantially in the form set forth in Exhibit A hereto.

 

ARTICLE 4.

 ORIGINAL ISSUE OF NOTES

 

Section 4.1.            Original
Issue of Senior Notes.  The Senior
Notes may, upon execution of this Supplemental Indenture, be executed by the
Company and delivered to the Trustee for authentication, and the Trustee shall,
upon Company order, authenticate and deliver such Senior Notes as in such
Company order provided.

 

ARTICLE 5.

 MISCELLANEOUS

 

Section 5.1.            Ratification
of Indenture.  The Base Indenture, as
supplemented by this Supplemental Indenture, is in all respects ratified and
confirmed, and this Supplemental Indenture shall be deemed part of the Base
Indenture in the manner and to the extent herein and therein provided; provided
that the provisions of this Supplemental Indenture apply solely with respect to
the Senior Notes.

 

Section 5.2.            Trustee
Not Responsible for Recitals.  The
recitals herein contained are made by the Company and not by the Trustee, and
the Trustee assumes no responsibility for the correctness thereof.  The Trustee makes no representation as to the
validity or sufficiency of this Supplemental Indenture.

 

10

 

Section 5.3.            Governing
Law.  This Supplemental Indenture and
each Senior Note shall be deemed to be contracts made under the law of the
State of New York, and for all purposes shall be governed by and construed in
accordance with the law of said State.

 

Section 5.4.            Separability.  In case any provision in this Indenture or in
the Senior Notes 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 5.5.            Counterparts.  This Supplemental Indenture may be executed
in any number of counterparts each of which shall be an original; but such
counterparts shall together constitute but one and the same instrument.

 

11

 

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

 

 

	
   

  	
  EQUITABLE
  RESOURCES, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Philip
  P. Conti

  
	
   

  	
   

  	
  Name:

  	
  Philip P. Conti

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice
  President and Chief

  
	
   

  	
   

  	
   

  	
  Financial
  Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF
  NEW YORK, as Trustee

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mary K.
  LaGumina

  
	
   

  	
   

  	
  Name:

  	
  Mary K.
  LaGumina

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

Signature Page to First Supplemental Indenture

 

 

EXHIBIT
A

 

[FORM OF FACE OF SECURITY]

 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR
IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY
OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE
DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY
OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO
THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH
OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

 

 

CUSIP No. 294549AR1

 

EQUITABLE RESOURCES, INC.

6.50% SENIOR NOTES DUE 2018

 

	
  No. R-1

  	
   

  	
  $500,000,000

  
	
   

  	
   

  	
  As revised by the

  
	
   

  	
   

  	
  Schedule of Increases

  
	
   

  	
   

  	
  or Decreases in

  
	
   

  	
   

  	
  Global Security

  
	
   

  	
   

  	
  attached hereto

  

 

Interest.  Equitable Resources, Inc., a corporation
duly organized and existing under the laws of the Commonwealth of Pennsylvania
(herein called the “Company”, which term includes any successor Person under
the Indenture hereinafter referred to), for value received, hereby promises to
pay to Cede & Co. or registered assigns, the principal sum of 500
million dollars ($500,000,000), as revised by the Schedule of Increases or
Decreases in Global Security attached hereto, on March 18, 2008 and to pay
interest thereon from March 18, 2008 or from the most recent Interest
Payment Date to which interest has been paid or duly provided for,
semi-annually in arrears on April 1 and October 1 in each year,
commencing October 1, 2008 at the rate of 6.50% per annum, until the
principal hereof is paid or made available for payment.

 

Method of Payment.  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 Record
Date for such interest, which shall be March 15 or September 15, 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 thereof having been given to Holders of
Securities of this series not less than 10 days prior to such Special Record
Date, all as more fully provided in said Indenture.  Payment of the principal of (and premium, if
any) and any such interest on this Security will be made at the Corporate Trust
Office in U.S. Dollars.

 

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.

 

Authentication.  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 under its corporate seal.

 

 

Dated: March 18, 2008

 

 

	
   

  	
  EQUITABLE
  RESOURCES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Philip P.
  Conti

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice
  President and

  
	
   

  	
   

  	
   

  	
  Chief
  Financial Officer

  

 

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

Dated:

 

THE BANK OF NEW YORK

 

as Trustee,
certifies 

that this is one of

the Securities referred 

to in the Indenture.

 

 

	
  By:

  	
   

  	
   

  
	
   

  	
  Authorized Signatory

  

 

 

[FORM OF REVERSE OF SECURITY]

 

Indenture.  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 March 18,
2008, as supplemented by a First Supplemental Indenture dated March 18,
2008 (as so supplemented, herein called the “Indenture”), between the Company
and The Bank of New York, as Trustee (herein called the “Trustee”, which term
includes any successor trustee under the Indenture), to which Indenture and all
indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of
the Company, the Trustee and the Holders of the 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, initially limited in aggregate principal amount to
$500,000,000.

 

Optional Redemption.  The Securities of this series are subject to
redemption at the Company’s option, at any time and from time to time, in whole
or in part, at a Redemption Price equal to the greater of (i) 100% of the
principal amount to be redeemed plus accrued and unpaid interest thereon to the
Redemption Date, and (ii) the sum of the present values of the remaining
scheduled payments of principal and interest on the Securities to be redeemed
(exclusive of interest accrued to the Redemption Date) discounted to the
Redemption Date on a semiannual basis (assuming a 360-day year consisting of
twelve 30 day months) at the applicable Treasury Rate (as defined below) plus
50 basis points plus accrued and unpaid interest on the principal amount being
redeemed to the Redemption Date.

 

For purposes of determining the optional
redemption price, the following definitions are applicable:

 

“Treasury Rate” means, with respect to any
Redemption Date for the Securities, the rate per year equal to the semi-annual
equivalent yield to maturity of the Comparable Treasury Issue, calculated using
a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for that Redemption
Date.

 

The Treasury Rate will be calculated on the
third business day preceding the Redemption Date.

 

“Comparable Treasury Issue” means the U.S.
Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term (“remaining life”) of the Securities that
would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining terms of the Securities.

 

 

“Comparable Treasury Price” means, with
respect to any Redemption Date:

 

(a)           the
average of four Reference Treasury Dealer Quotations for such Redemption Date,
after excluding the highest and lowest Reference Treasury Dealer Quotations, or

 

(b)           if
the Independent Investment Banker is unable to obtain at least four such
Reference Treasury Dealer Quotations, the average of all Reference Treasury
Dealer Quotations obtained by the Independent Investment Banker.

 

“Independent Investment Banker” means Banc of
America Securities LLC, Citigroup Global Markets Inc., J.P. Morgan Securities, Inc.
or Lehman Brothers Inc., as specified by the Company, or if these firms are
unwilling or unable to select the applicable Comparable Treasury Issue, an
independent investment banking institution of national standing appointed by
the Company.

 

“Reference Treasury Dealer” means Banc of
America Securities LLC, Citigroup Global Markets Inc., J.P. Morgan Securities, Inc.
or Lehman Brothers Inc., (and their respective successors), provided however,
that if any of the foregoing shall cease to be a primary U.S. government
securities dealer (a “Primary Treasury Dealer”), the Company will substitute
therefor another Primary Treasury Dealer.

 

“Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any Redemption Date for the
Securities, an average, as determined by the Independent Investment Banker, of
the bid and asked prices for the Comparable Treasury Issue for the Securities
(expressed in each case as a percentage of its principal amount) quoted in
writing to the Independent Investment Banker at 5:00 p.m., New York City
time, on the third business day preceding such Redemption Date.

 

Notice of any redemption will be mailed at
least 30 days but not more than 60 days before the Redemption Date to each
registered Holder of the Securities to be redeemed. Unless the Company defaults
in payment of the redemption price, on and after the Redemption Date, interest will
cease to accrue on the Securities or portions of the Securities called for
redemption.  If fewer than all of the
Securities are to be redeemed, the Trustee will select, not more than 60 days
prior to the Redemption Date, the particular Securities or portions thereof for
redemption from the outstanding Securities not previously called by such method
as the Trustee deems fair and appropriate.

 

Except as set forth above, the Securities
will not be redeemable by the Company prior to maturity and will not be entitled
to the benefit of any sinking fund.

 

 

Defaults and Remedies.  If an 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.

 

Amendment, Modification and Waiver.  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
aggregate 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 aggregate
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 be
conclusive and binding upon such Holder and upon all future Holders of this
Security and of any Security issued upon the registration of transfer hereof or
in exchange herefor or in lieu hereof, whether or not notation of such consent
or waiver is made upon this Security.

 

Restrictive Covenants.  The Indenture does not limit unsecured debt
of the Company or any of its Subsidiaries. 
It does limit certain mortgages, liens and sale-leaseback
transactions.  The limitations are subject
to a number of important qualifications and exceptions.  Once a year the Company must report to the
Trustee on compliance with the limitations.

 

Denominations, Transfer and Exchange.  The Securities of
this series are issuable only in registered form without coupons in
denominations of $2,000 and in integral multiples of $1,000 in excess
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 like
tenor of a different authorized denomination, as requested by the Holder
surrendering the same.

 

As provided in the Indenture and subject to
certain limitations therein set forth, the transfer of this Security is
registerable in the Security Register, upon surrender of this Security for
registration of transfer at the Registrar accompanied by a written request for
transfer in form satisfactory to the Company and the Registrar duly executed
by, the Holder hereof or his attorney duly authorized in writing, and thereupon
one or more new Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to
the designated transferee or transferees.

 

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.

 

 

Persons Deemed Owners.  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.

 

Miscellaneous.  The Indenture and this Security shall be
governed by and construed in accordance with the laws of the State of New York,
without regard to the conflicts of law rules of said State.

 

All terms used in this Security and not
defined herein shall have the meanings assigned to them in the Indenture.

 

 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
SECURITY

 

The following increases or decreases in this
Global Security have been made:

 

	
  Date of

  Exchange

  	
   

  	
  Amount of increase in

  Principal Amount of

  this Global Security

  	
   

  	
  Amount of decrease

  in Principal Amount

  of this Global

  Security

  	
   

  	
  Principal Amount of

  this Global Security

  following each

  decrease or increase

  	
   

  	
  Signature of

  authorized signatory

  of Trustee

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