Document:

exhibit4_1.htm

    

      
        
           

        

        
           

          
            

          

        

        
           

          
            Exhibit
4.1

          

        

      

      

       

      

       

      

       

      

       

      

       

      

       

      TEXAS
GAS TRANSMISSION, LLC

       

      $250,000,000

       

      5.50%
NOTES DUE 2013

       

      INDENTURE

       

      Dated
as of March 27, 2008

       

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

       

      as
Trustee

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      This
INDENTURE, dated as of March 27, 2008, is entered into between Texas Gas
Transmission, LLC, a Delaware limited liability company (the “Issuer”) and The
Bank Of New York Trust Company, N.A., a national banking association, as Trustee
(the “Trustee”).

       

      The
Issuer and the Trustee agree as follows for the benefit of each other and for
the equal and ratable benefit of the Holders of the 5.50% Notes due 2013 (the
“Notes”):

       

      ARTICLE
ONE

       

      DEFINITIONS
AND INCORPORATION BY REFERENCE

       

      
        	
                Section
      1.1  

              	
                Definitions.

              

      

       

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

       

      “144A Global Note” means a
Global Note in the form of Exhibit A-1 hereto bearing the Global Note Legend and
the Private Placement Legend and deposited with and registered in the name of
the Depositary or its nominee that shall be issued in a denomination equal to
the Outstanding principal amount of the Notes sold for initial resale in
reliance on Rule 144A.

       

      “Additional Notes” means any
Notes (other than Initial Notes and Notes issued under Sections 2.6, 2.7 and
2.10 hereof) issued under this Indenture in accordance with Sections 2.2 and
2.14 hereof, as part of the same series as the Initial Notes.

       

       “Affiliate” of any specified
Person means any other Person directly or indirectly controlling, controlled by
or under direct or indirect common control with the specified Person. For
purposes of this definition, “control,” including, with correlative meanings,
the terms “controlling,” “controlled by” and “under common control with,” as
used with respect to any Person, shall mean the possession, directly or
indirectly, of the power to direct or cause the direction of the management or
policies of the Person, whether through the ownership of voting securities, by
agreement or otherwise.

       

      “Agent” means any Registrar,
co-registrar, Paying Agent or additional paying agent.

       

      “Applicable Procedures” means,
with respect to any transfer, redemption or exchange of or for beneficial
interests in any Global Note, the rules and procedures of the Depositary,
Euroclear and Clearstream that apply to such transfer, redemption or
exchange.

       

      “Attributable Debt” means,
with respect to any Sale and Lease-Back Transaction as of any particular time,
the present value discounted at a rate of interest implicit in the terms of the
lease of the obligations of the lessee under such lease for net rental payments
during the remaining term of the lease (including any period for which such
lease has been extended or may, at the option of the lessee, be
extended).

       

      “Authenticating Agent” shall
have the meaning set forth in Section 5.12.

       

      “Bankruptcy Law” means Title
11, U.S. Code or any similar federal or state law for the relief of debtors, or
the law of any other jurisdiction relating to bankruptcy, insolvency, winding
up, liquidation, reorganization or relief of debtors.

       

      “Board of Directors” means
either the Board of Directors of the Issuer or any committee of such Board duly
authorized to act on its behalf.

       

      “Board Resolution” means a
copy of one or more resolutions, certified by the secretary or an assistant
secretary of the Issuer to have been duly adopted or consented to by the Board
of Directors and to be in full force and effect, and delivered to the
Trustee.

       

      “Business Day” means, with
respect to any Note, a day that in New York City is not a day on which banking
institutions are authorized or required by law or regulation to
close.

       

      “Capital Lease Obligation”
means, at the time any determination of the obligation is to be made, the amount
of the liability in respect of a capital lease that would at the time be so
required to be capitalized on the balance sheet in accordance with
GAAP.

       

      “Clearstream” means
Clearstream Banking S.A. and any successor thereto.

       

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

       

      “Commission” means the
Securities and Exchange Commission, as from time to time constituted, created
under the Securities Exchange Act of 1934, as amended, or if at any time after
the execution and delivery of this Indenture such Commission is not existing and
performing the duties now assigned to it under the Trust Indenture Act, then the
body performing such duties on such date.

       

      “Comparable Treasury Issue”
means the United States Treasury security selected by an Independent Investment
Banker as having a maturity comparable to the remaining term of the Notes to be
redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities
of comparable maturity to the remaining term of such Notes.

       

      “Comparable Treasury Price”
means, with respect to any redemption date, (i) the average of the bid and asked
prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) on the third business day preceding such redemption
date, as set forth in the daily statistical release (or any successor release)
published by the Federal Reserve Bank of New York and designated “Composite 3:30
p.m. Quotations for U.S. Government Securities” or (ii) if such release (or any
successor release) is not published or does not contain such prices on such
business day, (A) the average of the Reference Treasury Dealer Quotations for
such redemption date, after excluding the highest and lowest such Reference
Treasury Dealer Quotations, or (B) if the Issuer obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such
Quotations.

       

      “Consolidated Funded
Indebtedness” means the aggregate of all Outstanding Funded Indebtedness
of the Issuer and its consolidated Subsidiaries, determined on a consolidated
basis in accordance with generally accepted accounting principles.

       

      “Consolidated Net Tangible
Assets” means the total assets appearing on a consolidated balance sheet
of a Person and its consolidated Subsidiaries less, in general: (1) intangible
assets; (2) current and accrued liabilities (other than Consolidated Funded
Indebtedness and capitalized rentals or leases), deferred credits, deferred
gains and deferred income; and (3) reserves.

       

      “Corporate Trust Office of the
Trustee” means the principal office of the Trustee at which at any time
its corporate trust business shall be administered, which office at the dated
hereof is located at 2 N. LaSalle Street, Suite 1020, Chicago, Illinois 60602
Attention: Corporate Trust Administration, or such other address as the Trustee
may designate from time to time by notice to the Holders and the Issuer, or the
principal corporate trust office 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 Issuer).

       

      “Custodian” means, with
respect to the Notes issuable or issued in whole or in part in global form, the
Person specified in Section 2.3(c) hereof as Custodian with respect to the
Notes, and any and all successors thereto appointed as custodian hereunder and
having become such pursuant to the applicable provisions of this
Indenture.

       

      “Default” means with respect
to the Notes, any event that is, or with the passage of time or the giving of
notice or both would be, an Event of Default with respect to the
Notes.

       

      “Definitive Note” means a
certificated Note registered in the name of the Holder thereof and issued in
accordance with Section 2.6 or 2.10 hereof, in substantially the form of Exhibit
A hereto except that such Note shall not bear the Global Note Legend and shall
not have the “Schedule of Exchanges of Interests in the Global Note” attached
thereto.

       

      “Depositary” means, with
respect to the Notes issuable or issued in whole or in part in global form, the
Person specified in Section 2.3(b) hereof as the Depositary with respect to the
Notes, and any and all successors thereto appointed as depositary hereunder and
having become such pursuant to the applicable provisions of this
Indenture.

       

      “Distribution Compliance
Period” means the 40-day distribution compliance period as defined in
Regulation S.

       

      “Dollar” means the coin or
currency of the United States of America as at the time of payment is legal
tender for the payment of public and private debts.

       

      “Euroclear” means Euroclear
Bank, S.A./N.V., as operator of the Euroclear systems, and any successors
thereto.

       

      “Event of Default” means any
event or condition specified as such in Section 4.1.

       

      “Exchange Act” means the U.S.
Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder, including any successor legislation and rules and
regulations.

       

      “Funded Indebtedness” means
any Indebtedness that matures more than one year after the date as of which
Funded Indebtedness is being determined less any such Indebtedness as will be
retired through or by means of any deposit or payment required to be made within
one year from such date under any prepayment provision, sinking fund, purchase
fund, or otherwise.

       

      “GAAP” means generally
accepted accounting principles 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 other statements by another entity as have been approved
by a significant segment of the accounting profession, as in effect from time to
time; provided, however, that any change in GAAP that would cause the Issuer to
record an existing item as a liability upon its balance sheet, which item was
not previously required by GAAP to be so recorded, shall not constitute an
incurrence of Indebtedness for purposes hereof.

       

      “Global Note Legend” means the
legend set forth in Section 2.6(g)(ii) hereof, which is required to be placed on
all Global Notes issued under this Indenture.

       

      “Global Notes” means the
global Notes in the form of Exhibit A hereto issued in accordance with Article 2
hereof.

       

      “Government Notes” means
direct obligations of, or obligations guaranteed by, the United States of
America for the payment of which obligations or guarantee the full faith and
credit of the United States of America is pledged.

       

      “Holder” means, in general, a
Person in whose name the Notes are registered, or, if not registered, the bearer
thereof.

       

      “Indebtedness” means
indebtedness which is for money borrowed from others.

       

      “Indenture” means this
instrument as originally executed and delivered or, if amended or supplemented
as herein provided, as so amended or supplemented or both, and shall include the
forms and terms of particular series of Notes established as contemplated
hereunder.

       

      “Independent Investment
Banker” means one of the Reference Treasury Dealers appointed by the
Issuer.

       

      “Indirect Participant” means a
Person who holds a beneficial interest in a Global Note through a
Participant.

       

      “Initial Notes” means $250.0
million aggregate principal amount of Notes issued under this Indenture on the
date hereof.

       

      “Interest Payment Dates” shall
have the meaning set forth in paragraph 1 of each Note.

       

      “Issue Date” means March 27,
2008.

       

      “Issue Order” means a written
statement, request or order on behalf of the Issuer signed in its name by the
Chairman of the Board, the President or Vice President, a Secretary or a
Treasurer of the Issuer.

       

      “Obligations” means any
principal, interest, penalties, fees, indemnifications, reimbursements, damages
and other liabilities payable under the documentation governing any
Indebtedness.

       

      “Officer” means the Chief
Executive Officer, the President, the Chief Financial Officer, the Treasurer,
any Assistant Treasurer, the Secretary or any Vice President of the
Issuer.

       

      “Officers’ Certificate” means
a certificate signed by the Chairman of the Board, the President or a Vice
President, and by the Chief Financial Officer, Controller, Treasurer, an
Assistant Treasurer, the Secretary or an Assistant Secretary of the Issuer and
delivered to the Trustee. Each such certificate shall comply with § 314 of the
Trust Indenture Act of 1939 and include the statements provided for in Section
10.5, if applicable.

       

      “Opinion of Counsel” means an
opinion in writing signed by legal counsel who may be an employee of or counsel
to the Issuer. Each such opinion shall comply with § 314 of the Trust Indenture
Act of 1939 and include the statements provided for in Section 10.5, if
applicable.

       

      “Outstanding” when used with
reference to Notes, shall, subject to the provisions of Section 6.4, mean, as of
any particular time, all Notes authenticated and delivered by the Trustee under
this Indenture, except

       

      (a) Notes
theretofore cancelled by the Trustee or delivered to the Trustee for
cancellation;

       

      (b) Notes, or
portions thereof, for the payment or redemption of which moneys or U.S.
Government Obligations (as provided for in Section 9.1) in the necessary amount
shall have been deposited in trust with the Trustee or with any paying agent
(other than the Issuer) or shall have been set aside, segregated and held in
trust by the Issuer for the Holders of such Notes (if the Issuer shall act as
its own paying agent), provided that if such Notes, or portions thereof, are to
be redeemed prior to the maturity thereof, notice of such redemption shall have
been given as herein provided, or provision satisfactory to the Trustee shall
have been made for giving such notice; and

       

      (c) Notes
which shall have been paid or in substitution for which other Notes shall have
been authenticated and delivered pursuant to the terms of Section 2.7 (except
with respect to any such Note as to which proof satisfactory to the Trustee is
presented that such Note is held by a Person in whose hands such Note is a
legal, valid and binding obligation of the Issuer).

       

      “Participant” means, with
respect to the Depositary, Euroclear or Clearstream, a Person who has an account
with the Depositary, Euroclear or Clearstream, respectively, and, with respect
to DTC, shall include Euroclear and Clearstream.

       

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

       

      “Predecessor Note” of any
particular Note means every previous Note evidencing all or a portion of the
same Indebtedness as that evidenced by such particular Note; and any Note
authenticated and delivered under Section 2.7 in lieu of a lost, destroyed or
stolen Note shall be deemed to evidence the same Indebtedness as the lost,
destroyed or stolen Note.

       

      “Principal Property” means any
natural gas pipeline, gathering or storage property or facility, or natural gas
processing plant located in the United States, except any such property that in
the opinion of the Board of Directors is not of material importance to the total
business conducted by the Issuer and its consolidated Subsidiaries; provided,
however, that “Principal Property” shall not include production and proceeds
from production from gas processing plants or oil or natural gas or petroleum
products in any pipeline or storage field.

       

      “Private Placement Legend”
means the legend set forth in Section 2.6(g)(i) hereof to be placed on all Notes
issued under this Indenture except as otherwise permitted by the provisions of
this Indenture.

       

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

       

      “Reference Treasury Dealer”
means each of Credit Suisse Securities (USA) LLC, J.P. Morgan Securities Inc.
and Wachovia Capital Markets, LLC; if any of the Reference Treasury Dealers
resigns, the successor dealer shall be a primary U.S. Government securities
dealer in New York City selected by the Issuer.

       

      “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any
redemption date, the average, as determined by the Issuer, of the bid and ask
prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) quoted in writing to the Issuer by such Reference
Treasury Dealer at 5:00 p.m. on the third business day preceding such redemption
date.

       

      “Regular Record Date” for the
interest payable on any Interest Payment Date means the applicable date
specified as a “Record Date” on the face of the Note.

       

      “Regulation S” means
Regulation S promulgated under the Securities Act.

       

      “Regulation S Global Note”
means a Regulation S Temporary Global Note or Regulation S Permanent Global
Note, as appropriate.

       

      “Regulation S Permanent Global
Note” means a Global Note in the form of Exhibit A-1 hereto bearing the
Global Note Legend and the Private Placement Legend and deposited with and
registered in the name of the Depositary or its nominee that shall be issued in
a denomination equal to the Outstanding principal amount of the Regulation S
Temporary Global Note upon expiration of the Distribution Compliance
Period.

       

      “Regulation S Temporary Global
Note” means a temporary Global Note in the form of Exhibit A-2 hereto
deposited with or on behalf of and registered in the name of the Depositary or
its nominee, issued in a denomination equal to the outstanding principal amount
of the Notes initially sold in reliance on Rule 903 of Regulation
S.

       

      “Reporting Failure” means our
failure to file with the Trustee (a) within 90 days after the end of each fiscal
year, audited balance sheets as of the end of the two most recent fiscal years
and audited statements of income and cash flows for each of the three fiscal
years preceding the date of the most recent audited balance sheet or (b) within
60 days of the end of each of the first three fiscal quarters, unaudited interim
balance sheets as of the end of the most recent fiscal quarter and unaudited
interim statements of income and cash flows for the period between the latest
audited balance sheet and the most recent interim balance sheet provided, and
for the corresponding period of the preceding fiscal year.

       

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

       

      “Restricted Definitive Note”
means one or more Definitive Notes bearing the Private Placement
Legend.

       

      “Restricted Global Notes”
means 144A Global Notes and Regulation S Global Notes.

       

      “Rule 144” means Rule 144
promulgated under the Securities Act.

       

      “Rule 144A” means Rule 144A
promulgated under the Securities Act.

       

      “Rule 903” means Rule 903
promulgated under the Securities Act.

       

      “Rule 904” means Rule 904
promulgated under the Securities Act.

       

      “Securities Act” means the
U.S. Securities Act of 1933, as amended, and the rules and regulations
thereunder, including any successor legislation and rules and
regulations.

       

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

       

      “Stated Maturity” means, with
respect to any installment of interest or principal on any series of
Indebtedness, the date on which such payment of interest or principal was
scheduled to be paid in the original documentation governing such Indebtedness,
and shall not include any contingent obligations to repay, redeem or repurchase
any such interest or principal prior to the date originally scheduled for the
payment thereof.

       

      “Subsidiary” means, in respect
of any Person, any corporation, company (including any limited liability
company), association, partnership, joint venture or other business entity of
which at least a majority of the outstanding equity interests having ordinary
voting power is at the time owned or controlled, directly or indirectly, by: (a)
such Person; (b) such Person and one or more Subsidiaries of such Person, or (c)
one or more Subsidiaries of such Person.

       

      “Tax” means any tax, duty,
levy, impost, assessment or other governmental charge (including penalties,
interest and any other liabilities related thereto).

       

      “Trust Indenture Act of 1939”
means the U.S. Trust Indenture Act of 1939, as amended, and the rules and
regulations thereunder, including any successor legislation and rules and
regulations.

       

      “Treasury Rate” means, with
respect to any redemption date, the rate per annum equal to the semiannual
equivalent Yield to Maturity of the Comparable Treasury Issue, assuming a price
for the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such redemption
date.

       

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

       

      “Unrestricted Definitive
Notes” means one or more Definitive Notes that do not and are not
required to bear the Private Placement Legend.

       

      “Unrestricted Global Notes”
means one or more Global Notes that do not and are not required to bear the
Private Placement Legend and are deposited with and registered in the name of
the Depositary or its nominee.

       

      “U.S. Government Obligations”
shall have the meaning set forth in Section 9.1(a).

       

      “Yield to Maturity” means the
yield to maturity on the Notes, calculated at the time of issuance of the Notes,
and calculated in accordance with accepted financial practice.

       

      
        	
                Section
      1.2  

              	
                Other
      Definitions.

              

      

       

      
        	
                Term

              	
                Defined
      in Section

              
	 
      	 
      
	
                “Authentication
      Order”                                                                                  

              	
                2.2(d)

              
	
                “Issuer”                                                                                  

              	
                Preamble

              
	
                “covenant
      defeasance”                                                                                  

              	
                9.1

              
	
                “DTC”                                                                                  

              	
                2.3(b)

              
	
                “Event
      of
      Default”                                                                                  

              	
                4.1

              
	
                “lien”                                                                                  

              	
                3.4

              
	
                “mortgage”                                                                                  

              	
                3.4

              
	
                “Notes”                                                                                  

              	
                Preamble

              
	
                “Paying
      Agent”                                                                                  

              	
                2.3(a)

              
	
                “Registrar”                                                                                  

              	
                2.3(a)

              
	
                “Security
      Register”                                                                                  

              	
                11.3

              

      

      

       

      
        	
                Section
      1.3  

              	
                Incorporation by
      Reference of Trust Indenture
Act.

              

      

       

      (a) Whenever
this Indenture refers to a provision of the Trust Indenture Act of 1939, the
provision is incorporated by reference in and made a part of this
Indenture.

       

      (b) The
following Trust Indenture Act of 1939 terms used in this Indenture have the
following meanings:

       

      “indenture securities” means
the Notes;

       

      “indenture security holder”
means a Holder of a Note;

       

      “indenture to be qualified”
means this Indenture;

       

      “indenture trustee” or “institutional trustee” means
the Trustee; and

       

      “obligor” on the Notes means
the Issuer and any successor obligor upon the Notes.

       

      (c) All other
terms used in this Indenture that are defined by the Trust Indenture Act of
1939, defined by Trust Indenture Act of 1939 reference to another statute or
defined by Commission rule under the Trust Indenture Act of 1939 and not
otherwise defined herein have the meanings so assigned to them either in the
Trust Indenture Act of 1939, by another statute or Commission rule, as
applicable.

       

      
        	
                Section
      1.4  

              	
                Rules of
      Construction.

              

      

       

      (a) Unless
the context otherwise requires:

       

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

       

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

       

      (iii) “or” is
not exclusive;

       

      (iv) words in
the singular include the plural, and in the plural include the
singular;

       

      (v) all
references in this instrument to “Articles,” “Sections” and other subdivisions
are to the designated Articles, Sections and subdivisions of this instrument as
originally executed;

       

      (vi) 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.

       

      (vii) “including”
means “including without limitation;”

       

      (viii) provisions
apply to successive events and transactions; and

       

      (ix) references
to sections of or rules under the Securities Act, the Exchange Act or the Trust
Indenture Act of 1939 shall be deemed to include substitute, replacement or
successor sections or rules adopted by the Commission from time to time
thereunder.

       

      ARTICLE
TWO

       

      NOTES

       

      
        	
                Section
      2.1  

              	
                Form and
      Dating.

              

      

       

      (a) General. The Notes and the
Trustee’s certificate of authentication shall be substantially in the form
included in Exhibit A hereto, which is hereby incorporated in and expressly made
part of this Indenture. The Notes may have notations, legends or endorsements
required by law, exchange rule or usage in addition to those set forth on
Exhibit A. Each Note shall be dated the date of its authentication. The Notes
shall be in denominations of $2,000 and integral multiples of $1,000 in excess
thereof. The terms and provisions contained in the Notes shall constitute a part
of this Indenture, and the Issuer and the Trustee, by their execution and
delivery of this Indenture, expressly agree to such terms and provisions and to
be bound thereby. To the extent any provision of any Note conflicts with the
express provisions of this Indenture, the provisions of this Indenture shall
govern and be controlling.

       

      (b) Global Notes. Notes shall be
issued initially in global form and shall be substantially in the form of
Exhibits A-1 or A-2 attached hereto (including the Global Note Legend thereon
and the “Schedule of Exchanges of Interests in the Global Note” attached
thereto). Notes issued in definitive form shall be substantially in the form of
Exhibit A attached hereto (but without the Global Note Legend thereon and
without the “Schedule of Exchanges of Interests in the Global Note” attached
thereto). Each Global Note shall represent such aggregate principal amount of
the Outstanding Notes as shall be specified therein and each shall provide that
it shall represent the aggregate principal amount of Outstanding Notes from time
to time endorsed thereon and that the aggregate principal amount of Outstanding
Notes represented thereby may from time to time be reduced or increased, as
appropriate, to reflect exchanges and redemptions and transfers of interests
therein. Any endorsement of a Global Note to reflect the amount of any increase
or decrease in the aggregate principal amount of Outstanding Notes represented
thereby shall be made by the Trustee or the Custodian, at the direction of the
Trustee, in accordance with instructions given by the Holder thereof as required
by Section 2.6 hereof.

       

      (c) Temporary Global
Notes.  Notes offered and sold in reliance on Regulation S will
be issued initially in the form of the Regulation S Temporary Global Note, which
will be deposited on behalf of the purchasers of the Notes represented thereby
with the Trustee, at its New York office, as custodian for the Depositary, and
registered in the name of the Depositary or the nominee of the Depositary for
the accounts of designated agents holding on behalf of Euroclear or Clearstream,
duly executed by the Issuer and authenticated by the Trustee as hereinafter
provided.  The Distribution Compliance Period will be terminated upon
the receipt by the Trustee of:

       

      (1) a written
certificate from the Depositary, together with copies of certificates from
Euroclear and Clearstream certifying that they have received certification of
non-United States beneficial ownership of 100% of the aggregate principal amount
of the Regulation S Temporary Global Note (except to the extent of any
beneficial owners thereof who acquired an interest therein during the
Distribution Compliance Period pursuant to another exemption from registration
under the Securities Act and who will take delivery of a beneficial ownership
interest in a 144A Global Note bearing a Private Placement Legend, all as
contemplated by Section 2.6(b) hereof); and

       

      (2) an
Officers’ Certificate.

       

      Following
the termination of the Distribution Compliance Period, beneficial interests in
the Regulation S Temporary Global Note will be exchanged for beneficial
interests in the Regulation S Permanent Global Note pursuant to the Applicable
Procedures.  Simultaneously with the authentication of the Regulation
S Permanent Global Note, the Trustee will cancel the Regulation S Temporary
Global Note.  The aggregate principal amount of the Regulation S
Temporary Global Note and the Regulation S Permanent Global Note may from time
to time be increased or decreased by adjustments made on the records of the
Trustee and the Depositary or its nominee, as the case may be, in connection
with transfers of interest as hereinafter provided.

       

      (d) Book-Entry Provisions. This
Section 2.1(d) shall apply only to Global Notes deposited with the Trustee, as
custodian for the Depositary. Notwithstanding the foregoing, nothing herein
shall prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee
from giving effect to any written certification, proxy or other authorization
furnished by the Depositary or impair, as between the Depositary and its
Participants or Indirect Participants, the Applicable Procedures or the
operation of customary practices of the Depositary governing the exercise of the
rights of a holder of a beneficial interest in any Global Note.

       

      (e) Euroclear and Clearstream Procedures
Applicable. The provisions of the “Operating Procedures of the Euroclear
System” and “Terms and Conditions Governing Use of Euroclear” and the “General
Terms and Conditions of Clearstream” and “Customer Handbook” of Clearstream
shall be applicable to transfers of beneficial interests in Global Notes that
are held by Participants through Euroclear or Clearstream.

       

      
        	
                Section
      2.2  

              	
                Execution and
      Authentication.

              

      

       

      (a) One
Officer shall execute the Notes on behalf of the Issuer by manual or facsimile
signature.

       

      (b) If an
Officer whose signature is on a Note no longer holds that office at the time a
Note is authenticated by the Trustee, the Note shall nevertheless be
valid.

       

      (c) A Note
shall not be valid until authenticated by the manual signature of the Trustee.
The signature shall be conclusive evidence that the Note has been authenticated
under this Indenture. The form of Trustee’s certificate of authentication to be
borne by the Note shall be substantially as set forth in Exhibit A
hereto.

       

      (d) The
Trustee shall, upon a written order of the Issuer signed by an Officer (an
“Authentication Order”), authenticate Notes for original issue.

       

      
        	
                Section
      2.3  

              	
                Registrar and Paying
      Agent.

              

      

       

      (a) The
Issuer shall maintain an office or agency where Notes may be presented for
registration of transfer or for exchange (“Registrar”) and an office or agency
where Notes may be presented for payment (“Paying Agent”). The Registrar shall
keep a register of the Notes and of their transfer and exchange. The Issuer may
appoint one or more co-registrars and one or more additional paying agents. The
term “Registrar” includes any co-registrar and the term “Paying Agent” includes
any additional paying agent. The Issuer may enter into an appropriate agency
agreement with any Agent not party to this Indenture, which may incorporate the
provisions of the Trust Indenture Act of 1939. Such Agreement shall implement
the provisions of this Indenture that relate to such Agent. The Issuer may
change any Paying Agent or Registrar without notice to any Holder. The Issuer
shall notify the Trustee in writing of the name and address of any Agent not a
party to this Indenture. If the Issuer fails to appoint or maintain another
entity as Registrar or Paying Agent, the Trustee shall act as such and shall be
entitled to appropriate compensation in accordance with Section 5.6
hereof.  The Issuer or any of its Subsidiaries may act as Paying Agent
or Registrar.

       

      (b) The
Issuer initially appoints The Depository Trust Company (“DTC”) to act as
Depositary with respect to the Global Notes.

       

      (c) The
Issuer initially appoints the Trustee to act as Registrar and Paying Agent,
agent for service of notices and demands in connection with the Global Note and
to act as Custodian with respect to the Global Notes, and the Trustee hereby
agrees so to initially act.

       

      
        	
                Section
      2.4  

              	
                Paying Agent to Hold
      Money in Trust.

              

      

       

      The
Issuer shall require each Paying Agent other than the Trustee to agree in
writing that the Paying Agent shall hold in trust for the benefit of Holders or
the Trustee all money held by the Paying Agent for the payment of principal,
premium, if any, or interest on the Notes, and shall notify the Trustee of any
Default by the Issuer in making any such payment. While any such Default
continues, the Trustee may require a Paying Agent to pay all funds held by it
relating to the Notes to the Trustee. The Issuer at any time may require a
Paying Agent to pay all funds held by it relating to the Notes to the Trustee.
Upon payment over to the Trustee, the Paying Agent (if other than the Issuer)
shall have no further liability for such funds. If the Issuer or a Subsidiary
acts as Paying Agent, it shall segregate and hold in a separate trust fund for
the benefit of the Holders all funds held by it as Paying Agent. Upon any Event
of Default under Sections 4.1(d) and (e) hereof relating to the Issuer, the
Trustee shall serve as Paying Agent for the Notes.

       

      
        	
                Section
      2.5  

              	
                Holder
      Lists.

              

      

       

      The
Trustee shall preserve in as current a form as is reasonably practicable the
most recent list available to it of the names and addresses of all Holders and
shall otherwise comply with Trust Indenture Act of 1939 §312(a). If the Trustee
is not the Registrar, the Issuer shall furnish or cause to be furnished to the
Trustee at least three Business Days before each Interest Payment Date and at
such other times as the Trustee may request in writing, a list in such form and
as of such date or such shorter time as the Trustee may allow, as the Trustee
may reasonably require of the names and addresses of the Holders and the Issuer
shall otherwise comply with Trust Indenture Act of 1939 §312(a).

       

      
        	
                Section
      2.6  

              	
                Transfer and
      Exchange.

              

      

       

      (a) Transfer and Exchange of Global
Notes. A Global Note may not be transferred as a whole except by the
Depositary to a nominee of the Depositary, by a nominee of the Depositary to the
Depositary or to another nominee of the Depositary, or by the Depositary or any
such nominee to a successor Depositary or a nominee of such successor
Depositary. The Issuer shall exchange Global Notes for Definitive Notes if: (1)
the Issuer delivers to the Trustee a notice from the Depositary that the
Depositary is unwilling or unable to continue to act as Depositary for the
Global Notes or that it has ceased to be a clearing agency registered under the
Exchange Act and, in either case, a successor Depositary is not appointed by the
Issuer within 120 days after the date of such notice from the Depositary; (2)
the Issuer at its option determines that the Global Notes shall be exchanged for
Definitive Notes and delivers a written notice to such effect to the Trustee;
provided that in no
event shall the Regulation S Temporary Global Note be exchanged by the Issuer
for Definitive Notes prior to (x) the expiration of the Distribution Compliance
Period and (y) the receipt by the Registrar of any certificates required
pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act; or (3) a Default or
Event of Default shall have occurred and be continuing. Upon the occurrence of
any of the preceding events in clauses (1), (2) or (3) above, Definitive Notes
shall be issued in denominations of $2,000 or integral multiples of $1,000 in
excess thereof and in such names as the Depositary shall instruct the Trustee in
writing. Global Notes also may be exchanged or replaced, in whole or in part, as
provided in Sections 2.7 and 2.10 hereof. Except as provided above, every Note
authenticated and delivered in exchange for, or in lieu of, a Global Note or any
portion thereof, pursuant to this Section 2.6 or Section 2.7 or 2.10 hereof,
shall be authenticated and delivered in the form of, and shall be, a Global
Note. A Global Note may not be exchanged for another Note other than as provided
in this Section 2.6(a), and beneficial interests in a Global Note may not be
transferred and exchanged other than as provided in Section 2.6(b), (c) or (f)
hereof.

       

      (b) Transfer and Exchange of Beneficial
Interests in the Global Notes. The transfer and exchange of beneficial
interests in the Global Notes shall be effected through the Depositary in
accordance with the provisions of this Indenture and the Applicable Procedures.
Beneficial interests in Restricted Global Notes shall be subject to restrictions
on transfer comparable to those set forth herein to the extent required by the
Securities Act. Transfers of beneficial interests in Global Notes also shall
require compliance with either clause (i) or (ii) below, as applicable, as well
as one or more of the other following clauses, as applicable:

       

      (i) Transfer of Beneficial
Interests in the Same Global Note. Beneficial interests in any Restricted
Global Note may be transferred to Persons who take delivery thereof in the form
of a beneficial interest in the same Restricted Global Note in accordance with
the transfer restrictions set forth in the Private Placement Legend and any
Applicable Procedures; provided, however, that prior to the expiration of the
Distribution Compliance Period, transfers of beneficial interests in the
Regulation S Temporary Global Note may not be made to or for the account or
benefit of a “U.S. Person” (as defined in Rule 902(k) of Regulation S) (other
than a “distributor” (as defined in Rule 902(d) of Regulation S)). Beneficial
interests in any Unrestricted Global Note may be transferred to Persons who take
delivery thereof in the form of a beneficial interest in an Unrestricted Global
Note. Except as may be required by any Applicable Procedures, no written orders
or instructions shall be required to be delivered to the Registrar to effect the
transfers described in this Section 2.6(b)(i).

       

      (ii) All Other Transfers and
Exchanges of Beneficial Interests in Global Notes. In connection with all
transfers and exchanges of beneficial interests that are not subject to Section
2.6(b)(i) above, the transferor of such beneficial interest must deliver to the
Registrar either (A)(1) a written order from a Participant or an Indirect
Participant given to the Depositary in accordance with the Applicable Procedures
directing the Depositary to credit or cause to be credited a beneficial interest
in another Global Note in an amount equal to the beneficial interest to be
transferred or exchanged and (2) instructions given in accordance with the
Applicable Procedures containing information regarding the Participant account
to be credited with such increase or (B) if permitted under Section 2.6(a)
hereof, (1) a written order from a Participant or an Indirect Participant given
to the Depositary in accordance with the Applicable Procedures directing the
Depositary to cause to be issued a Definitive Note in an amount equal to the
beneficial interest to be transferred or exchanged and (2) instructions given by
the Depositary to the Registrar containing information regarding the Person in
whose name such Definitive Note shall be registered to effect the transfer or
exchange referred to in (B)(1) above; provided that in no event
shall Definitive Notes be issued upon the transfer or exchange of beneficial
interests in the Regulation S Temporary Global Note prior to (A) the expiration
of the Distribution Compliance Period and (B) the receipt by the Registrar of
any certificates required pursuant to Rule 903 under the Securities
Act.  Upon satisfaction of all of the requirements for transfer or
exchange of beneficial interests in Global Notes contained in this Indenture and
the Notes or otherwise applicable under the Securities Act, the Trustee shall
adjust the principal amount of the relevant Global Note(s) pursuant to Section
2.6(h) hereof.

       

      (iii) Transfer of Beneficial
Interests in a Restricted Global Note to Another Restricted Global Note.
A beneficial interest in any Restricted Global Note may be transferred to a
Person who takes delivery thereof in the form of a beneficial interest in
another Restricted Global Note if the transfer complies with the requirements of
Section 2.6(b)(ii) above and the Registrar receives the following:

       

      (A) if the
transferee shall take delivery in the form of a beneficial interest in a 144A
Global Note, then the transferor must deliver a certificate in the form of
Exhibit B hereto, including the certifications in item (1) thereof or, if
permitted by Applicable Procedures, item (3) thereof; and

       

      (B) if the
transferee shall take delivery in the form of a beneficial interest in a
Regulation S Global Note, then the transferor must deliver a certificate in the
form of Exhibit B hereto, including the certifications in item (2)
thereof.

       

      (iv) Transfer and Exchange of
Beneficial Interests in a Restricted Global Note for Beneficial Interests in an
Unrestricted Global Note.  A beneficial interest in any
Restricted Global Note may be exchanged by any holder thereof for a beneficial
interest in an Unrestricted Global Note or transferred to a Person who takes
delivery thereof in the form of a beneficial interest in an Unrestricted Global
Note only if the exchange or transfer complies with the requirements of Section
2.6(b)(ii) above and the Registrar receives the following: (1) if the holder of
such beneficial interest in a Restricted Global Note proposes to exchange such
beneficial interest for a beneficial interest in an Unrestricted Global Note, a
certificate from such holder in the form of Exhibit C hereto, including the
certifications in item (1)(a) thereof; or (2) if the holder of such beneficial
interest in a Restricted Global Note proposes to transfer such beneficial
interest to a Person who shall take delivery thereof in the form of a beneficial
interest in an Unrestricted Global Note, a certificate from such holder in the
form of Exhibit B hereto, including the certifications in item (4)
thereof,

       

      and, in
each such case, if the Registrar so requests or if the Applicable Procedures so
require, an Opinion of Counsel in form reasonably acceptable to the Registrar to
the effect that such exchange or transfer shall be effected in compliance with
the Securities Act and that the restrictions on transfer contained herein and in
the Private Placement Legend shall no longer be required in order to maintain
compliance with the Securities Act.

       

      If any
such transfer is effected at a time when an Unrestricted Global Note has not yet
been issued, the Issuer shall execute and, upon receipt of an Authentication
Order in accordance with Section 2.2 hereof, the Trustee shall authenticate one
or more Unrestricted Global Notes in an aggregate principal amount equal to the
aggregate principal amount of beneficial interests transferred pursuant to this
Section 2.6(b)(iv).

       

      (v) Transfer or Exchange of
Beneficial Interests in Unrestricted Global Notes for Beneficial Interests in
Restricted Global Notes Prohibited. Beneficial interests in an
Unrestricted Global Note may not be exchanged for, or transferred to Persons who
take delivery thereof in the form of, beneficial interests in a Restricted
Global Note.

       

      (c) Transfer or Exchange of Beneficial
Interests for Definitive Notes.

       

      (i) Beneficial Interests in
Restricted Global Notes to Restricted Definitive Notes. Subject to
Section 2.6(a) hereof, if any holder of a beneficial interest in a Restricted
Global Note proposes to exchange such beneficial interest for a Restricted
Definitive Note or to transfer such beneficial interest to a Person who takes
delivery thereof in the form of a Restricted Definitive Note, then, upon receipt
by the Registrar of the following documentation:

       

      (A) if the
holder of such beneficial interest in a Restricted Global Note proposes to
exchange such beneficial interest for a Restricted Definitive Note, a
certificate from such holder in the form of Exhibit C hereto, including the
certifications in item (2)(a) thereof;

       

      (B) if such
beneficial interest is being transferred to a QIB in accordance with Rule 144A,
a certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (1) thereof,

       

      (C) if such
beneficial interest is being transferred to a “non-U.S. Person” (as defined in
Rule 902(k) of Regulation S) in an offshore transaction in accordance with Rule
903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto,
including the certifications in item (2) thereof;

       

      (D) if such
beneficial interest is being transferred pursuant to an exemption from the
registration requirements of the Securities Act in accordance with Rule 144
under the Securities Act, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (3)(a) thereof;

       

      (E) if such
beneficial interest is being transferred to the Issuer or any of its
Subsidiaries, a certificate to the effect set forth in Exhibit B hereto,
including the certifications in item (3)(b) thereof, or

       

      (F) if such
beneficial interest is being transferred pursuant to an effective registration
statement under the Securities Act, a certificate to the effect set forth in
Exhibit B hereto, including the certifications in item 3(c)
thereof,

       

      the
Trustee shall reduce or cause to be reduced in a corresponding amount pursuant
to Section 2.6(h) hereof the aggregate principal amount of the applicable
Restricted Global Note, and the Issuer shall execute and, upon receipt of an
Authentication Order in accordance with Section 2.2 hereof, the Trustee shall
authenticate and deliver a Restricted Definitive Note in the appropriate
principal amount to the Person designated by the holder of such beneficial
interest in instructions delivered to the Registrar by the Depositary and the
applicable Participant or Indirect Participant on behalf of such holder. Any
Restricted Definitive Note issued in exchange for a beneficial interest in a
Restricted Global Note pursuant to this Section 2.6(c)(i) shall be registered in
such name or names and in such authorized denomination or denominations as the
holder of such beneficial interest shall designate in such instructions. The
Trustee shall deliver such Restricted Definitive Notes to the Persons in whose
names such Notes are so registered. Any Restricted Definitive Note issued in
exchange for a beneficial interest in a Restricted Global Note pursuant to this
Section 2.6(c)(i) shall bear the Private Placement Legend and shall be subject
to all restrictions on transfer contained therein.

       

      (ii) Beneficial Interests in
Regulation S Temporary Global Note to Definitive Notes.  Notwithstanding
Sections 2.6(c)(i)(A) and (C) hereof, a beneficial interest in the Regulation S
Temporary Global Note may not be exchanged for a Definitive Note or transferred
to a Person who takes delivery thereof in the form of a Definitive Note prior to
(A) the expiration of the Distribution Compliance Period and (B) the receipt by
the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B)
under the Securities Act, except in the case of a transfer pursuant to an
exemption from the registration requirements of the Securities Act other than
Rule 903 or Rule 904.

       

      (iii) Beneficial Interests in
Restricted Global Notes to Unrestricted Definitive Notes. Subject to
Section 2.6(a) hereof, a holder of a beneficial interest in a Restricted Global
Note may exchange such beneficial interest for an Unrestricted Definitive Note
or may transfer such beneficial interest to a Person who takes delivery thereof
in the form of an Unrestricted Definitive Note only if the Registrar receives
the following: (1) if the holder of such beneficial interest in a Restricted
Global Note proposes to exchange such beneficial interest for an Unrestricted
Definitive Note, a certificate from such holder in the form of Exhibit C hereto,
including the certifications in item (1)(b) thereof, or (2) if the holder of
such beneficial interest in a Restricted Global Note proposes to transfer such
beneficial interest to a Person who shall take delivery thereof in the form of
an Unrestricted Definitive Note, a certificate from such holder in the form of
Exhibit B hereto, including the certifications in item (4) thereof,

       

      and, in
each such case, if the Registrar so requests or if the Applicable Procedures so
require, an Opinion of Counsel in form reasonably acceptable to the Registrar to
the effect that such exchange or transfer shall be effected in compliance with
the Securities Act and that the restrictions on transfer contained herein and in
the Private Placement Legend shall no longer be required in order to maintain
compliance with the Securities Act.

       

      Upon
satisfaction of the conditions of any of the clauses of this Section 2.6(c)(ii)
the Issuer shall execute, and, upon receipt of an Authentication Order in
accordance with Section 2.2 hereof, the Trustee shall authenticate and deliver
an Unrestricted Definitive Note in the appropriate principal amount to the
Person designated by the holder of such beneficial interest in instructions
delivered to the Registrar by the Depositary and the applicable Participant or
Indirect Participant on behalf of such holder, and the Trustee shall reduce or
cause to be reduced in a corresponding amount pursuant to Section 2.6(h) hereof
the aggregate principal amount of the applicable Restricted Global
Note.

       

      (iv) Beneficial Interests in
Unrestricted Global Notes to Unrestricted Definitive Notes. Subject to
Section 2.6(a) hereof, if any holder of a beneficial interest in an Unrestricted
Global Note proposes to exchange such beneficial interest for an Unrestricted
Definitive Note or to transfer such beneficial interest to a Person who takes
delivery thereof in the form of an Unrestricted Definitive Note, then, upon
satisfaction of the applicable conditions set forth in Section 2.6(b)(ii)
hereof, the Trustee shall reduce or cause to be reduced in a corresponding
amount pursuant to Section 2.6(h) hereof the aggregate principal amount of the
applicable Unrestricted Global Note, and the Issuer shall execute and, upon
receipt of an Authentication Order in accordance with Section 2.2 hereof, the
Trustee shall authenticate and deliver an Unrestricted Definitive Note in the
appropriate principal amount to the Person designated by the holder of such
beneficial interest in instructions delivered to the Registrar by the Depositary
and the applicable Participant or Indirect Participant on behalf of such holder.
Any Unrestricted Definitive Note issued in exchange for a beneficial interest
pursuant to this Section 2.6(c)(iv) shall be registered in such name or names
and in such authorized denomination or denominations as the holder of such
beneficial interest shall designate in such instructions. The Trustee shall
deliver such Unrestricted Definitive Notes to the Persons in whose names such
Notes are so registered. Any Unrestricted Definitive Note issued in exchange for
a beneficial interest pursuant to this Section 2.6(c)(iv) shall not bear the
Private Placement Legend.

       

      (d) Transfer
and Exchange of Definitive Notes for Beneficial Interests.

       

      (i) Restricted Definitive Notes
to Beneficial Interests in Restricted Global Notes. If any holder of a
Restricted Definitive Note proposes to exchange such Note for a beneficial
interest in a Restricted Global Note or to transfer such Restricted Definitive
Notes to a Person who takes delivery thereof in the form of a beneficial
interest in a Restricted Global Note, then, upon receipt by the Registrar of the
following documentation:

       

      (A) if the
holder of such Restricted Definitive Note proposes to exchange such Note for a
beneficial interest in a Restricted Global Note, a certificate from such holder
in the form of Exhibit C hereto, including the certifications in item (2)(b)
thereof;

       

      (B) if such
Restricted Definitive Note is being transferred to a QIB in accordance with Rule
144A, a certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (1) thereof;

       

      (C) if such
Restricted Definitive Note is being transferred to a “non-U.S. Person” (as
defined in Rule 902(k) of Regulation S) in an offshore transaction in accordance
with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (2) thereof,

       

      (D) if such
Restricted Definitive Note is being transferred pursuant to an exemption from
the registration requirements of the Securities Act in accordance with Rule 144,
a certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (3)(a) thereof;

       

      (E) if such
Restricted Definitive Note is being transferred to the Issuer or any of its
Subsidiaries, a certificate to the effect set forth in Exhibit B hereto,
including the certifications in item (3)(b) thereof, or

       

      (F) if such
Restrictive Definitive Note is being transferred pursuant to an effective
registration statement under the Securities Act, a certificate to the effect set
forth in Exhibit B hereto, including the certification in item 3(c)
thereof,

       

      the
Trustee shall cancel the Restricted Definitive Note, increase or cause to be
increased in a corresponding amount pursuant to Section 2.6(h) hereof the
aggregate principal amount of, in the case of clause (A) above, the appropriate
Restricted Global Note, in the case of clause (B) above, a 144A Global Note, and
in the case of clause (C) above, a Regulation S Global Note.

       

      (ii) Restricted Definitive Notes
to Beneficial Interests in Unrestricted Global Notes. A holder of a
Restricted Definitive Note may exchange such Note for a beneficial interest in
an Unrestricted Global Note or transfer such Restricted Definitive Note to a
Person who takes delivery thereof in the form of a beneficial interest in an
Unrestricted Global Note only if the Registrar receives the following: (1) if
the holder of such Restricted Definitive Note proposes to exchange such Note for
a beneficial interest in an Unrestricted Global Note, a certificate from such
holder in the form of Exhibit C hereto, including the certifications in item
(1)(c) thereof, or (2) if the holder of such Restricted Definitive Note proposes
to transfer such Note to a Person who shall take delivery thereof in the form of
a beneficial interest in an Unrestricted Global Note, a certificate from such
holder in the form of Exhibit B hereto, including the certifications in item (4)
thereof,

       

      and, in
each such case, if the Registrar so requests or if the Applicable Procedures so
require, an Opinion of Counsel in form reasonably acceptable to the Registrar to
the effect that such exchange or transfer shall be effected in compliance with
the Securities Act and that the restrictions on transfer contained herein and in
the Private Placement Legend shall no longer be required in order to maintain
compliance with the Securities Act.

       

      Upon satisfaction of the conditions of
any of the clauses in this Section 2.6(d)(ii), the Trustee shall cancel such
Restricted Definitive Note and increase or cause to be increased in a
corresponding amount pursuant to Section 2.6(h) hereof the aggregate principal
amount of the Unrestricted Global Note.

       

      (iii) Unrestricted Definitive
Notes to Beneficial Interests in Unrestricted Global Notes. A holder of
an Unrestricted Definitive Note may exchange such Note for a beneficial interest
in an Unrestricted Global Note or transfer such Unrestricted Definitive Note to
a Person who takes delivery thereof in the form of a beneficial interest in an
Unrestricted Global Note at any time. Upon receipt of a request for such an
exchange or transfer, the Trustee shall cancel the applicable Unrestricted
Definitive Note and increase or cause to be increased in a corresponding amount
pursuant to Section 2.6(h) hereof the aggregate principal amount of one of the
Unrestricted Global Notes.

       

      (iv) Transfer or Exchange of
Unrestricted Definitive Notes to Beneficial Interests in Restricted Global Notes
Prohibited. An Unrestricted Definitive Note may not be exchanged for, or
transferred to Persons who take delivery thereof in the form of, beneficial
interests in a Restricted Global Note.

       

      (v) Issuance of Unrestricted
Global Notes. If any such exchange or transfer of a Definitive Note for a
beneficial interest in an Unrestricted Global Note is effected pursuant to
clause (ii)(B), (ii)(D) or (iii) above at a time when an Unrestricted Global
Note has not yet been issued, the Issuer shall issue and, upon receipt of an
Authentication Order in accordance with Section 2.2 hereof, the Trustee shall
authenticate one or more Unrestricted Global Notes in an aggregate principal
amount equal to the principal amount of Definitive Notes so
transferred.

       

      (e) Transfer and Exchange of Definitive
Notes for Definitive Notes. Upon request by a holder of Definitive Notes
and such holder’s compliance with the provisions of this Section 2.6(e), the
Registrar shall register the transfer or exchange of Definitive Notes. Prior to
such registration of transfer or exchange, the requesting holder shall present
or surrender to the Registrar the Definitive Notes duly endorsed or accompanied
by a written instruction of transfer in form satisfactory to the Registrar duly
executed by such holder.  In addition, the requesting holder shall
provide any additional certifications, documents and information, as applicable,
required pursuant to the following provisions of this Section
2.6(e).

       

      (i) Restricted Definitive Notes
to Restricted Definitive Notes. Any Restricted Definitive Note may be
transferred to and registered in the name of Persons who take delivery thereof
in the form of a Restricted Definitive Note if the Registrar receives the
following:

       

      (A) if the
transfer shall be made pursuant to Rule 144A, a certificate in the form of
Exhibit B hereto, including the certifications in item (1) thereof,

       

      (B) if the
transfer shall be made pursuant to Rule 903 or Rule 904, a certificate in the
form of Exhibit B hereto, including the certifications in item (2) thereof,
and

       

      (C) if the
transfer shall be made pursuant to any other exemption from the registration
requirements of the Securities Act, a certificate in the form of Exhibit B
hereto, including the certifications, certificates and Opinion of Counsel
required by item (3) thereof, if applicable.

       

      (D) Restricted Definitive Notes
to Unrestricted Definitive Notes. Any Restricted Definitive Note may be
exchanged by the holder thereof for an Unrestricted Definitive Note or
transferred to a Person or Persons who take delivery thereof in the form of an
Unrestricted Definitive Note only if the Registrar receives the
following:

       

      (1) if the
holder of such Restricted Definitive Notes proposes to exchange such Notes for
an Unrestricted Definitive Note, a certificate from such holder in the form of
Exhibit C hereto, including the certifications in item (1)(d) thereof;
or

       

      (2) if the
holder of such Restricted Definitive Notes proposes to transfer such Notes to a
Person who shall take delivery thereof in the form of an Unrestricted Definitive
Note, a certificate from such holder in the form of Exhibit B hereto, including
the certifications in item (4) thereof,

       

      and, in
each such case, if the Registrar so requests, an Opinion of Counsel in form
reasonably acceptable to the Registrar to the effect that such exchange or
transfer shall be effected in compliance with the Securities Act and that the
restrictions on transfer contained herein and in the Private Placement Legend
shall no longer be required in order to maintain compliance with the Securities
Act.

       

      Upon
satisfaction of the conditions of any of the clauses of Section 2.6(e)(ii) the
Trustee shall cancel the prior Restricted Definitive Note and the Issuer shall
execute, and, upon receipt of an Authentication Order in accordance with Section
2.2 hereof, the Trustee shall authenticate and deliver an Unrestricted
Definitive Note in the appropriate principal amount to the Person designated by
the holder of such prior Restricted Definitive Note in instructions delivered to
the Registrar by such holder.

       

      (ii) Unrestricted Definitive
Notes to Unrestricted Definitive Notes. A holder of Unrestricted
Definitive Notes may transfer such Notes to a Person who takes delivery thereof
in the form of an Unrestricted Definitive Note. Upon receipt of a request to
register such a transfer, the Registrar shall register the Unrestricted
Definitive Notes pursuant to the instructions from the Holders
thereof.

       

      (f) [Reserved]

       

      (g) Legends. The following
legends shall appear on the face of all Global Notes and Definitive Notes issued
under this Indenture unless specifically stated otherwise in the applicable
provisions of this Indenture.

       

      (i) Private
Placement Legend.

       

      (A) Except as
permitted by clause (B) below, each Global Note and each Definitive Note (and
all Notes issued in exchange therefor or substitution thereof) shall bear the
legend in substantially the following form:

       

      “THE
NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), OR OTHER SECURITIES LAWS. NEITHER THIS
NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH
REGISTRATION UNLESS THE TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE HOLDER OF THIS SECURITY BY
ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL
BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (B) IT IS NOT A
U.S. PERSON AND IS ACQUIRING ITS NOTE IN AN “OFFSHORE TRANSACTION” PURSUANT TO
RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT
PRIOR TO (X) THE DATE WHICH IS ONE YEAR (OR SUCH SHORTER PERIOD OF TIME AS
PERMITTED BY RULE 144(d) UNDER THE SECURITIES ACT OR ANY SUCCESSOR PROVISION
THEREUNDER) AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF (OR OF ANY
PREDECESSOR OF THIS NOTE) OR THE LAST DAY ON WHICH THE ISSUER OR ANY AFFILIATE
OF THE ISSUER WAS THE OWNER OF THIS NOTE (OR ANY PREDECESSOR OF THIS NOTE) AND
(Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY APPLICABLE LAW (THE “RESALE
RESTRICTION TERMINATION DATE”), OFFER, SELL OR OTHERWISE TRANSFER THIS NOTE
EXCEPT (A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS
BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES
ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A
QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING
MADE IN RELIANCE ON RULE 144A INSIDE THE UNITED STATES, (D) PURSUANT TO OFFERS
AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE
MEANING OF REGULATION S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANY OTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
(3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS NOTE IS TRANSFERRED A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND; PROVIDED THAT THE ISSUER, THE
TRUSTEE AND THE REGISTRAR SHALL HAVE THE RIGHT PRIOR TO ANY SUCH OFFER, SALE OR
TRANSFER (I) PURSUANT TO CLAUSE (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION
OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM,
AND (II) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A CERTIFICATION OF
TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS NOTE IS COMPLETED AND
DELIVERED BY THIS TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON
THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. AS USED
HEREIN, THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE
THE MEANINGS GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES
ACT.”

       

      (B) Notwithstanding
the foregoing, any Global Note or Definitive Note issued pursuant to clauses
(b)(iv), (c)(ii), (c)(iii), (d)(ii), (d)(iii), (e)(ii), (e)(iii) to this Section
2.6 (and all Notes issued in exchange therefor or substitution thereof) shall
not bear the Private Placement Legend.

       

      (ii) Global Note Legend.
Each Global Note shall bear a legend in substantially the following
form:

       

      “THIS
GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS
HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT
THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT
TO SECTION 2.6 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE
BUT NOT IN PART PURSUANT TO SECTION 2.6(a) OF THE INDENTURE, (III)THIS GLOBAL
NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11
OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER.

       

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

       

      (h) Cancellation and/or Adjustment of
Global Notes.  At such time as all beneficial interests in a
particular Global Note have been exchanged for Definitive Notes or a particular
Global Note has been redeemed, repurchased or cancelled in whole and not in
part, each such Global Note shall be returned to or retained and cancelled by
the Trustee in accordance with Section 2.11 hereof. At any time prior to such
cancellation, if any beneficial interest in a Global Note is exchanged for or
transferred to a Person who shall take delivery thereof in the form of a
beneficial interest in another Global Note or for Definitive Notes, the
principal amount of Notes represented by such Global Note shall be reduced
accordingly and an endorsement shall be made on such Global Note by the Trustee
or by the Depositary at the direction of the Trustee to reflect such reduction;
and if the beneficial interest is being exchanged for or transferred to a Person
who shall take delivery thereof in the form of a beneficial interest in another
Global Note, such other Global Note shall be increased accordingly and an
endorsement shall be made on such Global Note by the Trustee or by the
Depositary at the direction of the Trustee to reflect such
increase.

       

      (i) General Provisions Relating to
Transfers and Exchanges.

       

      (i) No
service charge shall be made to a Holder of a beneficial interest in a Global
Note or to a Holder of a Definitive Note for any registration of transfer or
exchange, but the Issuer may require payment of a sum sufficient to cover any
transfer tax or similar governmental charge payable in connection therewith
(other than any such transfer taxes or similar governmental charge payable upon
exchange or transfer pursuant to Sections 2.7, 2.10, 7.5, 9.5 and 11.6
hereof).

       

      (ii) All
Global Notes and Definitive Notes issued upon any registration of transfer or
exchange of Global Notes or Definitive Notes shall be the valid obligations of
the Issuer, evidencing the same Indebtedness, as the Global Notes or Definitive
Notes surrendered upon such registration of transfer or exchange and shall be
entitled to all of the benefits of this Indenture equally and proportionately
with all other Notes duly issued hereunder.

       

      (iii) Neither
the Registrar nor the Issuer shall be required (A) to issue, to register the
transfer of or to exchange any Notes during a period beginning at the opening of
business 15 days before the day of any selection of Notes for redemption under
Section 3.2 hereof and ending at the close of business on the date of selection,
(B) to register the transfer of or to exchange any Note so selected for
redemption in whole or in part, except the unredeemed portion of any Note being
redeemed in part or (C) to register the transfer of or to exchange a Note
between a record date (including a Regular Record Date) and the next succeeding
Interest Payment Date.

       

      (iv) Prior to
due presentment for the registration of a transfer of any Note, the Trustee, any
Agent and the Issuer may deem and treat the Person in whose name any Note is
registered as the absolute owner of such Note for the purpose of receiving
payment of principal of and interest on such Note and for all other purposes, in
each case regardless of any notice to the contrary.

       

      (v) All
certifications, certificates and Opinions of Counsel required to be submitted to
the Registrar pursuant to this Section 2.6 to effect a registration of transfer
or exchange may be submitted by facsimile.

       

      (vi) The
Trustee is hereby authorized and directed to enter into a letter of
representation with the Depositary in the form provided by the Issuer and to act
in accordance with such letter.

       

      (vii) To permit
registrations of transfers and exchanges, the Issuer shall execute, and the
Trustee shall authenticate, Global Notes and Definitive Notes upon the Issuer’s
order or at the Registrar’s request.

       

      (viii) The
Registrar shall not be required to register the transfer of or exchange any Note
selected for redemption in whole or in part, except the unredeemed portion of
any Note being redeemed in part.

       

      (ix) The
Trustee shall authenticate Global Notes and Definitive Notes in accordance with
the provisions of Section 2.2 hereof.

       

      
        	
                Section
      2.7  

              	
                Replacement
      Notes.

              

      

       

      If any
mutilated Note is surrendered to the Trustee or the Issuer and the Trustee
receives evidence to its satisfaction of the destruction, loss or theft of any
Note, the Issuer shall issue and the Trustee, upon receipt of an Authentication
Order in accordance with Section 2.2 hereof, shall authenticate a replacement
Note. If required by the Trustee or the Issuer, the Holder of such Note shall
provide indemnity sufficient, in the judgment of the Trustee or the Issuer, as
applicable, to protect the Issuer, the Trustee, any Agent and any Authenticating
Agent from any loss that any of them may suffer in connection with such
replacement. If required by the Issuer, such Holder shall reimburse the Issuer
for its reasonable expenses in connection with such replacement.

       

      Every
replacement Note issued in accordance with this Section 2.7 shall be the valid
obligation of the Issuer evidencing the same Indebtedness as the destroyed, lost
or stolen Note and shall be entitled to all of the benefits of this Indenture
equally and proportionately with all other Notes duly issued
hereunder.

       

      
        	
                Section
      2.8  

              	
                Outstanding
      Notes.

              

      

       

      (a) The Notes
Outstanding at any time shall be the entire principal amount of Notes
represented by all the Global Notes and Definitive Notes authenticated by the
Trustee except for those cancelled by it, those delivered to it for
cancellation, those subject to reductions in beneficial interests effected by
the Trustee in accordance with Section 2.6 hereof, and those described in this
Section 2.8 as not Outstanding. Except as set forth in Section 2.9 hereof, a
Note shall not cease to be Outstanding because the Issuer or an Affiliate of the
Issuer holds the Note; provided, however, that Notes held by the Issuer or a
Subsidiary of the Issuer shall be deemed not to be outstanding for purposes of
Section 2.9 or 6.4 hereof.

       

      (b) If a Note
is replaced pursuant to Section 2.7 hereof, it shall cease to be Outstanding
unless the Trustee receives proof satisfactory to it that the replaced Note is
held by a bona fide purchaser.

       

      (c) If the
principal amount of any Note is considered paid under Section 3.1 hereof, it
shall cease to be Outstanding and interest on it shall cease to
accrue.

       

      (d) If the
Paying Agent (other than the Issuer, a Subsidiary or an Affiliate of any
thereof) holds, on a redemption date, a Purchase Date or maturity date, funds
sufficient to pay Notes payable on that date, then on and after that date such
Notes shall be deemed to be no longer Outstanding and shall cease to accrue
interest.

       

      
        	
                Section
      2.9  

              	
                Treasury
      Notes.

              

      

       

      In
determining whether the Holders of the required principal amount of Notes have
concurred in any direction, waiver or consent, Notes owned by the Issuer or by
any Affiliate of the Issuer shall be considered as though not Outstanding,
except that for the purposes of determining whether the Trustee shall be
protected in relying on any such direction, waiver or consent, only Notes that a
Responsible Officer of the Trustee actually knows are so owned shall be so
disregarded.

       

      
        	
                Section
      2.10  

              	
                Temporary
      Notes.

              

      

       

      Until
certificates representing Notes are ready for delivery, the Issuer may prepare
and the Trustee, upon receipt of an Authentication Order in accordance with
Section 2.2 hereof, shall authenticate temporary Notes. Temporary Notes shall be
substantially in the form of Definitive Notes but may have variations that the
Issuer considers appropriate for temporary Notes and as shall be reasonably
acceptable to the Trustee. Without unreasonable delay, the Issuer shall prepare
and the Trustee shall authenticate Global Notes or Definitive Notes in exchange
for temporary Notes, as applicable.

       

      Holders
of temporary Notes shall be entitled to all of the benefits of this Indenture
equally and proportionately with all other Notes duly issued
hereunder.

       

      
        	
                Section
      2.11  

              	
                Cancellation.

              

      

       

      The
Issuer at any time may deliver Notes to the Trustee for cancellation. The
Registrar and Paying Agent shall forward to the Trustee any Notes surrendered to
them for registration of transfer, exchange or payment. Upon sole direction of
the Issuer, the Trustee and no one else shall cancel all Notes surrendered for
registration of transfer, exchange, payment, replacement or cancellation and
shall dispose of such cancelled Notes in accordance with its customary
procedures (subject to the record retention requirements of the Exchange Act or
other applicable laws) unless the Issuer directs the Trustee in writing to be
returned to them. The Issuer may not issue new Notes to replace Notes that it
has paid or that have been delivered to the Trustee for
cancellation.

       

      
        	
                Section
      2.12  

              	
                Defaulted
      Interest.

              

      

       

      If the
Issuer defaults in a payment of interest on the Notes, it shall pay the
defaulted interest in any lawful manner plus, to the extent lawful, interest
payable on the defaulted interest, to the Persons who are Holders on a
subsequent special record date, in each case at the rate provided in the Notes.
The Issuer shall notify the Trustee in writing of the amount of defaulted
interest proposed to be paid on each Note and the date of the proposed payment.
The Issuer shall fix or cause to be fixed each such special record date and
payment date, provided that no such special record date shall be less than 10
days prior to the related payment date for such defaulted interest. At least 15
days before the special record date, the Issuer (or, upon the written request of
the Issuer, the Trustee in the name and at the expense of the Issuer) shall mail
or cause to be mailed to Holders a notice that states the special record date,
the related payment date and the amount of such interest to be
paid.

       

      
        	
                Section
      2.13  

              	
                CUSIP or ISIN
      Numbers.

              

      

       

      The
Issuer in issuing the Notes may use “CUSIP” and/or “ISIN” numbers (if then
generally in use), and, if so, the Trustee shall use “CUSIP” and/or “ISIN”
numbers in notices of redemption as a convenience to Holders; provided, however,
that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Notes or as contained in
any notice of a redemption or notice of an offer to purchase and that reliance
may be placed only on the other identification numbers printed on the Notes, and
any such redemption or offer to purchase shall not be affected by any defect in
or omission of such numbers. The Issuer shall promptly notify the Trustee of any
change in the “CUSIP” and/or “ISIN” numbers.

       

      
        	
                Section
      2.14  

              	
                Issuance of Additional
      Notes.

              

      

       

      The
Issuer shall be entitled to issue Additional Notes under this Indenture which
shall have identical terms as the Initial Notes issued on the date hereof, other
than with respect to the date of issuance and issue price. The Initial Notes
issued on the date hereof, any Additional Notes shall be treated as a single
class for all purposes under this Indenture, including without limitation,
directions, waivers, amendments, consents, redemptions and offers to
purchase.

       

      With
respect to any Additional Notes, the Issuer shall set forth in a Board
Resolution and an Officers’ Certificate, a copy of each of which shall be
delivered to the Trustee, the following information:

       

      (a) the
aggregate principal amount of such Additional Notes to be authenticated and
delivered pursuant to this Indenture;

       

      (b) the issue
price, the issue date and the CUSIP and/or ISIN number of such Additional Notes;
provided, however, that no Additional Notes may be issued at a price that would
cause such Additional Notes to have “original issue discount” within the meaning
of Section 1273 of the Code; and

       

      (c) whether
such Additional Notes shall be subject to the restrictions on transfer set forth
Section 2.6 hereof relating to Restricted Global Notes and Restricted Definitive
Notes.

       

      
        	
                Section
      2.15  

              	
                Record
      Date.

              

      

       

      The
record date for purposes of determining the identity of Holders of Notes
entitled to vote or consent to any action by vote or consent authorized or
permitted under this Indenture shall be determined as provided for in Trust
Indenture Act of 1939 § 316(c).

       

      
        	
                Section
      2.16  

              	
                Place of
      Payment.

              

      

       

      As long
as any Notes are outstanding, the Issuer shall maintain an office or agency in
the Borough of Manhattan, the City of New York, where Notes may be presented for
payment.  The office of the Paying Agent in the Borough of Manhattan,
the City of New York shall be one such office for this purpose.

       

      ARTICLE
THREE

       

      COVENANTS
OF THE ISSUER

       

      
        	
                Section
      3.1  

              	
                Payment of Principal
      and Interest

              

      

       

      The
Issuer covenants and agrees for the benefit of the Holders of the Notes that it
will duly and punctually pay or cause to be paid the principal of, and interest
on, each of the Notes at the place or places, at the respective times and in the
manner provided in such Notes and in this Indenture.  If any temporary
Note provides that interest thereon may be paid while such Note is in temporary
form, the interest on any such temporary Note shall be paid, only upon
presentation of such Notes for notation thereon of the payment of such interest,
in each case subject to any restrictions that may be established pursuant to
Article Two. The interest on Notes (together with any additional amounts payable
pursuant to the terms of such Notes) shall be payable only to or upon the
written order of the Holders thereof entitled thereto and, at the option of the
Issuer, may be paid by wire transfer or by mailing checks for such interest
payable to or upon the written order of such Holders at their last addresses as
they appear on the registry books of the Issuer.

       

      
        	
                Section
      3.2  

              	
                Appointment to Fill a
      Vacancy in Office of
Trustee.

              

      

       

      The
Issuer, whenever necessary to avoid or fill a vacancy in the office of Trustee,
will appoint, in the manner provided in Section 5.9, a Trustee, so that there
shall at all times be a Trustee with respect to the Notes.

       

      
        	
                Section
      3.3  

              	
                Written Statement to
      Trustee.

              

      

       

      The
Issuer will furnish to the Trustee on or before January 31 in each year
(beginning with January 31, 2009) a brief certificate (which need not comply
with Section 10.5) from the principal executive, financial or accounting officer
of the Issuer as to his or her knowledge of the Issuer’s compliance with all
conditions and covenants under the Indenture (such compliance to be determined
without regard to any period of grace or requirement of notice provided under
the Indenture).

       

      
        	
                Section
      3.4  

              	
                Limitations upon
      Liens.

              

      

       

      After the
date hereof and so long as any Notes are Outstanding, the Issuer will not, and
will not permit any Subsidiary to, issue, assume or guarantee any Indebtedness
secured by a mortgage, pledge, lien, security interest or encumbrance (any
mortgage, pledge, lien, security interest or encumbrance being hereinafter in
this Article referred to as a “mortgage” or “mortgages” or as a “lien” or
“liens”) of, or upon, any property of the Issuer or of any Subsidiary, without
effectively providing that the Notes shall be equally and ratably secured with
such Indebtedness; provided, however, that the foregoing restriction shall not
apply to:

       

      (a) Any
purchase money mortgage created by the Issuer or a Subsidiary to secure all or
part of the purchase price of any property (or to secure a loan made to enable
the Issuer or a Subsidiary to acquire the property described in such mortgage),
provided that the principal amount of the Indebtedness secured by any such
mortgage, together with all other Indebtedness secured by a mortgage on such
property, shall not exceed the purchase price of the property
acquired;

       

      (b) Any
mortgage existing on any property at the time of the acquisition thereof by the
Issuer or a Subsidiary whether or not assumed by the Issuer or a Subsidiary, and
any mortgage on any property acquired or constructed by the Issuer or a
Subsidiary and created not later than 12 months after (i) completion of such
acquisition or construction or (ii) commencement of full operation of such
property, whichever is later; provided that, if assumed or created by the Issuer
or a Subsidiary, the principal amount of the Indebtedness secured by such
mortgage, together with all other Indebtedness secured by a mortgage on such
property, shall not exceed the purchase price of the property acquired or the
cost of the property constructed;

       

      (c) Any
mortgage created or assumed by the Issuer or a Subsidiary on any contract for
the sale of any product or service or any rights thereunder or any proceeds
therefrom, including accounts and other receivables, related to the operation or
use of any property acquired or constructed by the Issuer or a Subsidiary and
created not later than 12 months after (i) such acquisition or completion of
such construction or (ii) commencement of full operation of such property,
whichever is later;

       

      (d) Any
mortgage existing on any property of a Subsidiary at the time it becomes a
Subsidiary and any mortgage on property existing at the time of acquisition
thereof,

       

      (e) Any
refunding or extension of maturity, in whole or in part, of any mortgage created
or assumed in accordance with the provisions of subdivision (a), (b), (c) or (d)
above or (j), (p), or (y) below, provided that the principal amount of the
Indebtedness secured by such refunding mortgage or extended mortgage shall not
exceed the principal amount of the Indebtedness secured by the mortgage to be
refunded or extended outstanding at the time of such refunding or extension and
that such refunding mortgage or extended mortgage shall be limited in lien to
the same property that secured the mortgage so refunded or
extended;

       

      (f) Any
mortgage created or assumed by the Issuer or a Subsidiary to secure loans to the
Issuer or a Subsidiary maturing within 12 months of the date of creation thereof
and not renewable or extendible by the terms thereof at the option of the
obligor beyond such 12 months, and made in the ordinary course of
business;

       

      (g) Mechanics’
or materialmen’s liens or any lien or charge arising by reason of pledges or
deposits to secure payment of workmen’s compensation or other insurance, good
faith deposits in connection with tenders or leases of real estate, bids or
contracts (other than contracts for the payment of money), deposits to secure
public or statutory obligations, deposits to secure or in lieu of surety, stay
or appeal bonds and deposits as security for the payment of taxes or assessments
or other similar charges;

       

      (h) Any
mortgage arising by reason of deposits with or the giving of any form of
security to any governmental agency or any body created or approved by law or
governmental regulation for any purpose at any time as required by law or
governmental regulation as a condition to the transaction of any business or the
exercise of any privilege or license, or to enable the Issuer or a Subsidiary to
maintain self-insurance or to participate in any fund for liability on any
insurance risks or in connection with workmen’s compensation, unemployment
insurance, old age pensions or other social security or to share in the
privileges or benefits required for companies participating in such
arrangements;

       

      (i) Mortgages
upon rights-of-way;

       

      (j) Undetermined
mortgages and charges incidental to construction or maintenance;

       

      (k) The right
reserved to, or vested in, any municipality or governmental or other public
authority or railroad by the terms of any right, power, franchise, grant,
license, permit or by any provision of law, to terminate or to require annual or
other periodic payments as a condition to the continuance of such right, power,
franchise, grant, license or permit;

       

      (l) The lien
of taxes and assessments which are not at the time delinquent;

       

      (m) The lien
of specified taxes and assessments which are delinquent but the validity of
which is being contested in good faith at the time by the Issuer or a
Subsidiary;

       

      (n) The lien
reserved in leases for rent and for compliance with the terms of the lease in
the case of leasehold estates;

       

      (o) Defects
and irregularities in the titles to any property (including rights-of-way and
easements) which are not material to the business of the Issuer and its
Subsidiaries considered as a whole;

       

      (p) Any
mortgages securing Indebtedness neither assumed nor guaranteed by the Issuer or
a Subsidiary nor on which it customarily pays interest, existing upon real
estate or rights in or relating to real estate (including rights-of-way and
easements) acquired by the Issuer or a Subsidiary, which mortgages do not
materially impair the use of such property for the purposes for which it is held
by the Issuer or such Subsidiary;

       

      (q) Easements,
exceptions or reservations in any property of the Issuer or a Subsidiary granted
or reserved for the purpose of pipelines, roads, telecommunication equipment and
cable, streets, alleys, highways, railroad purposes, the removal of oil, gas,
coal or other minerals or timber, and other like purposes, or for the joint or
common use of real property, facilities and equipment, which do not materially
impair the use of such property for the purposes for which it is held by the
Issuer or such Subsidiary;

       

      (r) Rights
reserved to or vested in any municipality or public authority to control or
regulate any property of the Issuer or a Subsidiary, or to use such property in
any manner which does not materially impair the use of such property for the
purposes for which it is held by the Issuer or such Subsidiary;

       

      (s) Any
obligations or duties, affecting the property of the Issuer or a Subsidiary, to
any municipality or public authority with respect to any franchise, grant,
license or permit;

       

      (t) The liens
of any judgments in an aggregate amount not in excess of $2,000,000 or the lien
of any judgment the execution of which has been stayed or which has been
appealed and secured, if necessary, by the filing of an appeal
bond;

       

      (u) Zoning
laws and ordinances;

       

      (v) Any
mortgage existing on any office equipment, data processing equipment (including
computer and computer peripheral equipment) or transportation equipment
(including motor vehicles, aircraft and marine vessels);

       

      (w) Leases
now or hereafter existing and any renewals or extensions thereof;

       

      (x) Any lien
on inventory and receivables incurred in the ordinary course of business to
secure Indebtedness incurred for working capital purposes including liens
incurred in connection with a sale of receivables; and

       

      (y) Any
mortgage not permitted by clauses (a) through (x) above if at the time of, and
after giving effect to, the creation or assumption of any such mortgage, the
aggregate of all Indebtedness of the Issuer and its Subsidiaries secured by all
such mortgages not so permitted by clauses (a) through (x) above do not exceed
10% of Consolidated Net Tangible Assets.

       

      In the
event that the Issuer or a Subsidiary shall hereafter secure the Notes equally
and ratably with any other obligation or Indebtedness pursuant to the provisions
of this Section 3.6, the Trustee is hereby authorized to enter into an indenture
supplemental hereto and to take such action, if any, as it may deem advisable to
enable it to enforce effectively the rights of the Holders of the Notes so
secured, equally and ratably with such other obligation or
Indebtedness.

       

      Subject
to the provisions of Section 5.1, the Trustee, at its request, may receive an
Opinion of Counsel as conclusive evidence that any such supplemental indenture
or steps taken to secure the Notes equally and ratably comply with the
provisions of this Section.

       

      
        	
                Section
      3.5  

              	
                Limitation on Sale and
      Leaseback Transactions.

              

      

       

      The
Issuer agrees that it will not, and will not permit any Subsidiary to, enter
into any arrangement with any Person providing for the leasing by the Issuer or
a Subsidiary of any Principal Property, acquired or placed into service more
than 180 days prior to such arrangement (except for leases of three years or
less), whereby such property has been or is to be sold or transferred by the
Issuer or any Subsidiary to such Person (herein referred to as a “Sale and
Lease-Back Transaction”), unless:

       

      (i) the
Issuer or any Subsidiary would, at the time of entering into a Sale and
Lease-Back Transaction, be entitled to incur Indebtedness secured by a mortgage
on the property to be leased in an amount at least equal to the Attributable
Debt in respect of such transaction without equally and ratably securing the
Notes pursuant to Section 3.4 hereof; or

       

      (ii) the
Issuer shall covenant that it will apply or cause to be applied an amount equal
to the net proceeds from the sale of the Principal Property so leased to the
retirement (other than any mandatory retirement) of its Funded Indebtedness
within 90 days of the effective date of any such Sale and Lease Back
Transaction, provided that the amount to be applied to the retirement of Funded
Indebtedness of the Issuer shall be reduced by (i) the principal amount of any
Notes delivered by the Issuer to the Trustee within 90 days after such Sale and
Lease-Back Transaction for retirement and cancellation, and (ii) the principal
amount of Funded Indebtedness, other than Notes, voluntarily retired by the
Issuer within 90 days following such Sale and Lease-Back Transaction, provided,
further, that the covenant contained in this Section shall not apply to, and
there shall be excluded from Attributable Debt in any computation under this
Section, Attributable Debt with respect to any Sale and Lease-Back Transaction
if:

       

      (A) such Sale
and Lease-Back Transaction is entered into in connection with transactions which
are part of an industrial development or pollution control financing,
or

       

      (B) the only
parties involved in such Sale and Lease-Back Transaction are the Issuer and any
Subsidiary or any Subsidiaries.

       

      Notwithstanding
these restrictions on Sale and Lease-Back Transaction, the Issuer and its
Subsidiaries may enter into, create, assume and suffer to exist Sale and
Lease-Back Transactions, not otherwise permitted hereby, if at the time of, and
after giving effect to, such Sale and Lease-Back Transaction, the total
consolidated Attributable Debt of the Issuer and its Subsidiaries does not
exceed 10% of Consolidated Net Tangible Assets.

       

      
        	
                Section
      3.6  

              	
                Holders
      Lists.

              

      

       

      If and so
long as the Trustee shall not be the Registrar for the Notes, the Issuer will
furnish or cause to be furnished to the Trustee a list in such form as the
Trustee may reasonably require of the names and addresses of the holders of the
Notes pursuant to § 312 of the Trust Indenture Act of 1939 (a) semi-annually not
more than 15 days after each record date for the payment of interest on such
Notes, as hereinabove specified, as of such record date and on dates to be
determined pursuant to Section 2.5 for non-interest bearing securities in each
year, and (b) at such other times as the Trustee may request in writing, within
thirty days after receipt by the Issuer of any such request as of a date not
more than 15 days prior to the time such information is furnished.

       

      
        	
                Section
      3.7  

              	
                Reports by the
      Issuer.

              

      

       

      The
Issuer covenants to file with the Trustee and Holders of Notes with (1) the
information regarding our business required to be delivered pursuant to Rule
144A(d)(4) under the Securities Act and (2) within 90 days after the end of each
fiscal year, audited balance sheets as of the end of the two most recent fiscal
years and audited statements of income and cash flows for each of the three
fiscal years preceding the date of the most recent balance sheet, and within 60
days of the end of each of the first three fiscal quarters, unaudited, unaudited
interim balance sheets as of the end of the most recent fiscal quarter and
unaudited interim statements of income and cash flows for the period between the
latest audited balance sheet and the most recent interim balance sheet provided,
and for the corresponding period of the preceding fiscal year.

       

      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 Officers' Certificates).

       

      
        	
                Section
      3.8  

              	
                Reports by the
      Trustee.

              

      

       

      Any
Trustee’s report required under § 313(a) of the Trust Indenture Act of 1939
shall be transmitted on or before May 15 in each year following the date hereof,
so long as any Notes are Outstanding hereunder, and shall be dated as of a date
convenient to the Trustee no more than 60 nor less than 45 days prior
thereto.

       

      ARTICLE
FOUR

       

      DEFAULTS
AND REMEDIES

       

      
        	
                Section
      4.1  

              	
                Event of Default
      Defined, Acceleration of Maturity, Waiver of
    Default.

              

      

       

      “Event of
Default” wherever used herein, means each one of the following events which
shall have occurred and be continuing (whatever the reason for such Event of
Default and whether it shall be voluntary or involuntary or be effected by
operation of law or pursuant to any judgment, decree or order of any court or
any order, rule or regulation of any administrative or governmental
body):

       

      (a) default
in the payment of any installment of interest upon any of the Notes as and when
the same shall become due and payable, and continuance of such default for a
period of 30 days; or

       

      (b) default
in the payment of all or any part of the principal on any of the Notes as and
when the same shall become due and payable either at maturity, upon any
redemption, by declaration or otherwise; or

       

      (c) default
in the performance, or breach, of any covenant or warranty of

       

      the
Issuer in respect of the Notes and continuance of such default or breach for a
period of 60 days (or 180 days in the case of a Reporting Failure) after there
has been given, by registered or certified mail, to the Issuer by the Trustee or
to the Issuer and the Trustee by the Holders of at least 25% in aggregate
principal amount of the Outstanding Notes, a written notice specifying such
default or breach and requiring it to be remedied and stating that such notice
is a “Notice of Default” hereunder; or

       

      (d) either
(1) default in payment of any Indebtedness of the Issuer or any Subsidiary of
the Issuer within any applicable grace period after final maturity or (2) the
acceleration of Indebtedness of the Issuer or any Subsidiary of the Issuer by
the holders thereof because of a default and, in either case, the total amount
of the Indebtedness unpaid or accelerated exceeds $25.0 million; or

       

      (e) the entry
of a decree or order by a court having jurisdiction in the premises adjudging
the Issuer or any Significant Subsidiary as bankrupt or insolvent, or approving
as properly filed a petition seeking reorganization, arrangement, adjustment or
composition of or in respect of the Issuer or any Significant Subsidiary under
the federal bankruptcy law or any other applicable federal or state law, or
appointing a receiver, liquidator, assignee, trustee,
sequestrator  (or other similar official) of the Issuer or any
Significant Subsidiary or for any substantial part of its property, or ordering
the winding up or liquidation of the affairs of the Issuer or any Significant
Subsidiary, and the continuance of any such decree or order unstayed and in
effect for a period of 60 consecutive days; or

       

      (f) the
institution by the Issuer or any Significant Subsidiary of proceedings to be
adjudicated as bankrupt or insolvent or the consent by the Issuer or any
Significant Subsidiary to the institution of bankruptcy or insolvency
proceedings against it, or the filing by the Issuer or any Significant
Subsidiary of a petition or answer or consent seeking reorganization or relief
under the federal bankruptcy law or any other applicable federal or state law,
or the consent by the Issuer or any Significant Subsidiary to the filing of any
such petition or to the appointment of a receiver, liquidator, assignee,
trustee, sequestrator (or other similar official) of the Issuer or any
Significant Subsidiary or for any substantial part of its property, or the
making by the Issuer or any Significant Subsidiary of any general assignment for
the benefit of creditors;

       

      provided, however, that the
occurrence of any of the events described in the foregoing clause (c) shall not
constitute an Event of Default if such occurrence is the result of changes in
generally accepted accounting principles as recognized by the American Institute
of Certified Public Accountants at the date as of which this Indenture is
executed and a certificate to such effect is delivered to the Trustee by the
Issuer’s independent public accountants.

       

      If an
Event of Default described in clauses (a), (b), (c) or (d) above occurs and is
continuing, then, and in each and every such case, either the Trustee or the
Holders of not less than 25% in aggregate principal amount of the Notes then
Outstanding hereunder, by notice in writing to the Issuer (and to the Trustee if
given by the Holders), may declare the entire principal and the interest accrued
thereon, if any, to be due and payable immediately, and upon any such
declaration, the same shall become immediately due and payable. If an Event of
Default described in clause (e) or (f) occurs and is continuing, then and in
each and every such case, unless the principal of all the Notes shall have
already become due and payable, the entire principal of all of the Notes then
Outstanding, and interest accrued thereon, if any, will become immediately due
and payable without any declaration of acceleration or other act on the part of
the Trustee or any Holders.

       

      The
foregoing provisions, however, are subject to the condition that if, at any time
after the principal of the Notes shall have been so declared due and payable or
become automatically due and payable, and before any judgment or decree for the
payment of the moneys due shall have been obtained or entered as hereinafter
provided, the Issuer shall pay or shall deposit with the Trustee a sum
sufficient to pay all matured installments of interest upon all the Notes and
the principal of all Notes which shall have become due otherwise than by
acceleration (with interest upon such principal and, to the extent that payment
of such interest is enforceable under applicable law, on overdue installments of
interest, at the same rate as the rate of interest specified in the Notes to the
date of such payment or deposit) and such amount as shall be sufficient to cover
reasonable compensation to the Trustee and each predecessor Trustee and their
agents, attorneys and counsel, and all other expenses and liabilities incurred,
and all advances made, by the Trustee and each predecessor Trustee except as a
result of negligence or bad faith, and if any and all Events of Default under
this Indenture, other than the non-payment of the principal of Notes which shall
have become due by acceleration, shall have been cured, waived or otherwise
remedied as provided herein, then and in every such case the Holders of a
majority in aggregate principal amount of all the Notes then Outstanding, by
written notice to the Issuer and to the Trustee, may waive all defaults with
respect to the Notes, and rescind and annul such declaration and its
consequences, but no such waiver or rescission and annulment shall extend to or
shall affect any subsequent default or shall impair any right consequent
thereon.

       

      
        	
                Section
      4.2  

              	
                Collection of
      Indebtedness by Trustee; Trustee May Prove
  Debt.

              

      

       

      The
Issuer covenants that (a) in case default shall be made in the payment of any
installment of interest on any of the Notes when such interest shall have become
due and payable, and such default shall have continued for a period of 30 days
or (b) in case default shall be made in the payment of all or any part of the
principal of any of the Notes when the same shall have become due and payable,
whether upon maturity of the Notes or upon any redemption or by declaration or
otherwise, then upon demand of the Trustee, the Issuer will pay to the Trustee
for the benefit of the Holders of the Notes the whole amount that then shall
have become due and payable on all Notes, for principal or interest, as the case
may be (with interest to the date of such payment upon the overdue principal
and, to the extent that payment of such interest is enforceable under applicable
law, on overdue installments of interest at the same rate as the rate of
interest; and in addition thereto, such further amount as shall be sufficient to
cover the costs and expenses of collection, including reasonable compensation to
the Trustee and each predecessor Trustee, their respective agents, attorneys and
counsel, and any expenses and liabilities incurred, and all advances made, by
the Trustee and each predecessor Trustee except as a result of its negligence or
bad faith.

       

      Until
such demand is made by the Trustee, the Issuer may pay the principal of and
interest on the Notes to the registered Holders, whether or not the principal of
and interest on Notes be overdue.

       

      In case
the Issuer 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 proceedings at law or in equity for the
collection of the sums so due and unpaid, and may prosecute any such action or
proceedings to judgment or final decree, and may enforce any such judgment or
final decree against the Issuer or other obligor upon the Notes and collect in
the manner provided by law out of the property of the Issuer or other obligor
upon the Notes, wherever situated, the moneys adjudged or decreed to be
payable.

       

      In case
there shall be pending proceedings relative to the Issuer or any other obligor
upon the Notes under Title 11 of the United States Code or any other applicable
federal or state bankruptcy, insolvency or other similar law, or in case a
receiver, assignee or trustee in bankruptcy or reorganization, liquidator,
sequestrator or similar official shall have been appointed for or taken
possession of the Issuer or its property or such other obligor, or in case of
any other comparable judicial proceedings relative to the Issuer or other
obligor upon the Notes, or to the creditors or property of the Issuer or such
other obligor, the Trustee, irrespective of whether the principal of the Notes
shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand
pursuant to the provisions of this Section, shall be entitled and empowered, by
intervention in such proceedings or otherwise:

       

      (a) to file
and prove a claim or claims for the whole amount of principal and interest owing
and unpaid in respect of the Notes and to file such other papers or documents as
may be necessary or advisable in order to have the claims of the Trustee
(including any claim for reasonable compensation to the Trustee and each
predecessor Trustee, and their respective agents, attorneys and counsel, and for
reimbursement of all expenses and liabilities incurred, and all advances made,
by the Trustee and each predecessor Trustee, except as a result of negligence or
bad faith) and of the Holders allowed in any judicial proceedings relative to
the Issuer or other obligor upon the Notes, or to the creditors or property of
the Issuer or such other obligor,

       

      (b) unless
prohibited by applicable law and regulations, to vote on behalf of the Holders
of the Notes in any election of a trustee or a standby trustee in arrangement,
reorganization, liquidation or other bankruptcy or insolvency proceedings or
Person performing similar functions in comparable proceedings, and

       

      (c) to
collect and receive any moneys or other property payable or deliverable on any
such claims, and to distribute all amounts received with respect to the claims
of the Holders and of the Trustee on their behalf, and any trustee, receiver, or
liquidator, custodian or other similar official is hereby authorized by each of
the Holders to make payments to the Trustee, and, in the event that the Trustee
shall consent to the making of payments directly to the Holders, to pay to the
Trustee such amounts as shall be sufficient to cover reasonable compensation to
the Trustee, each predecessor Trustee and their respective agents, attorneys and
counsel, and all other expenses and liabilities incurred, and all advances made,
by the Trustee and each predecessor Trustee except as a result of negligence or
bad faith.

       

      Nothing
herein contained shall be deemed to authorize the Trustee to authorize or
consent to or vote for or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Notes of
any series or the rights of any Holder thereof, or to authorize the Trustee to
vote in respect of the claim of any Holder in any such proceeding except, as
aforesaid, to vote for the election of a trustee in bankruptcy or similar
Person.

       

      All
rights of action and of asserting claims under this Indenture, or under any of
the Notes may be enforced by the Trustee without the possession of any of the
Notes or the production thereof in any trial or other proceedings relative
thereto, and any such action or proceedings instituted by the Trustee shall be
brought in its own name as trustee of an express trust, and any recovery of
judgment, subject to the payment of the expenses, disbursements and compensation
of the Trustee, each predecessor Trustee and their respective agents and
attorneys, shall be for the ratable benefit of the Holders of the Notes in
respect of which such action was taken.

       

      In any
proceedings brought by the Trustee (and also any proceedings involving the
interpretation of any provision of this Indenture to which the Trustee shall be
a party) the Trustee shall be held to represent all the Holders of the Notes in
respect to which such action was taken, and it shall not be necessary to make
any Holders of such Notes parties to any such proceedings.

       

      
        	
                Section
      4.3  

              	
                Application of
      Proceeds.

              

      

       

      Any
moneys collected by the Trustee pursuant to this Article in respect of any
series shall be applied in the following order at the date or dates fixed by the
Trustee and, in case of the distribution of such moneys on account of principal
or interest, upon presentation of the several Notes in respect of which monies
have been collected and stamping (or otherwise noting) thereon the payment, or
issuing Notes in reduced principal amounts in exchange for the presented Notes
if only partially paid, or upon surrender thereof if fully paid:

       

      FIRST: To the payment of costs and
expenses in respect of which monies have been collected, including reasonable
compensation to the Trustee and each predecessor Trustee and their respective
agents and attorneys and of all expenses and liabilities incurred, and all
advances made, by the Trustee and each predecessor Trustee except as a result of
negligence or bad faith;

       

      SECOND: In case the principal of the
Notes in respect of which moneys have been collected shall not have become and
be then due and payable, to the payment of interest on the Notes in default in
the 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 same rate as the rate of interest
specified in such Notes, such payments to be made ratably to the Persons
entitled thereto, without discrimination or preference;

       

      THIRD: In case the principal of the
Notes in respect of which moneys have been collected shall have become and shall
be then due and payable, to the payment of the whole amount then owing and
unpaid upon all the Notes for principal and interest, with interest upon the
overdue principal, and (to the extent that such interest has been collected by
the Trustee) upon overdue installments of interest at the same rate as the rate
of interest specified in the Notes; and in case such moneys shall be
insufficient to pay in full the whole amount so due and unpaid upon the Notes,
then to the payment of such principal and interest, without preference or
priority of principal over interest, or of interest over principal, or of any
installment of interest over any other installment of interest, or of any Note
over any other Note, ratably to the aggregate of such principal and accrued and
unpaid interest; and

       

      FOURTH: To the payment of the
remainder, if any, to the Issuer.

       

      
        	
                Section
      4.4  

              	
                Suits for
      Enforcement.

              

      

       

      In case
an Event of Default has occurred, has not been waived and is continuing, the
Trustee may in its discretion proceed to protect and enforce the rights vested
in it by this Indenture by such appropriate judicial proceedings as the Trustee
shall deem necessary to protect and enforce any of such rights, either at law or
in equity or in bankruptcy or otherwise, whether for the specific enforcement of
any covenant or agreement contained in this Indenture or in aid of the exercise
of any power granted in this Indenture or to enforce any other legal or
equitable right vested in the Trustee by this Indenture or by law.

       

      
        	
                Section
      4.5  

              	
                Restoration of Rights
      on Abandonment of
Proceedings.

              

      

       

      In case
the Trustee shall have proceeded to enforce any right under this Indenture and
such proceedings shall have been discontinued or abandoned for any reason, or
shall have been determined adversely to the Trustee, then and in every such case
the Issuer and the Trustee shall be restored respectively to their former
positions and rights hereunder, and all rights, remedies and powers of the
Issuer, the Trustee and the Holders shall continue as though no such proceedings
had been taken.

       

      
        	
                Section
      4.6  

              	
                Limitations on Suits
      by Holders.

              

      

       

      No Holder
of any Note shall have any right by virtue or by availing of any provision of
this Indenture to institute any action or proceeding at law or in equity or in
bankruptcy or otherwise upon or under or with respect to this Indenture, or for
the appointment of a trustee, receiver, liquidator, custodian or other similar
official or for any other remedy hereunder, unless such Holder previously shall
have given to the Trustee written notice of default and of the continuance
thereof, as hereinbefore provided, and unless also the Holders of not less than
25% in aggregate principal amount of the Notes shall have made written request
upon the Trustee to institute such action or proceedings in its own name as
Trustee hereunder and shall have offered to the Trustee such indemnity
reasonably satisfactory to it against the costs, expenses and liabilities to be
incurred therein or thereby and the Trustee for 60 days after its receipt of
such notice, request and offer of indemnity shall have failed to institute any
such action or proceeding and no direction inconsistent with such written
request shall have been given to the Trustee pursuant to Section 4.9; it being
understood and intended, and being expressly covenanted by the taker and Holder
of every Note with every other taker and Holder and the Trustee, that no one or
more Holders of Notes shall have any right in any manner whatever by virtue or
by availing of any provision of this Indenture to affect, disturb or prejudice
the rights of any other such Holder of Notes, or to obtain or seek to obtain
priority over or preference to any other such Holder or to enforce any right
under this Indenture, except in the manner herein provided and for the equal,
ratable and common benefit of all Holders of Notes. For the protection and
enforcement of the provisions of this Section, each and every Holder and the
Trustee shall be entitled to such relief as can be given either at law or in
equity.

       

      
        	
                Section
      4.7  

              	
                Unconditional Right of
      Holders to Institute Certain
Suits.

              

      

       

      Notwithstanding
any other provision in this Indenture and any provision of any Note, the right
of any Holder of any Note to receive payment of the principal of and interest on
such Note on or after the respective due dates expressed or provided for in such
Note, or to institute suit for the enforcement of any such payment on or after
such respective dates, shall not be impaired or affected without the consent of
such Holder.

       

      
        	
                Section
      4.8  

              	
                Powers and Remedies
      Cumulative; Delay or Omission Not Waiver of
  Default.

              

      

       

      Except as
provided in Section 4.6, no right or remedy herein conferred upon or reserved to
the Trustee or to the Holders of Notes is intended to be exclusive of any other
right or remedy, and every right and remedy shall, to the extent permitted by
law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The
assertion or employment of any right or remedy hereunder, or otherwise, shall
not prevent the concurrent assertion or employment of any other appropriate
right or remedy.

       

      No delay
or omission of the Trustee or of any Holder of Notes to exercise any right or
power accruing upon any Event of Default occurring and continuing as aforesaid
shall impair any such right or power or shall be construed to be a waiver of any
such Event of Default or an acquiescence therein; and, subject to Section 4.6,
every power and remedy given by this Indenture or by law to the Trustee or to
the Holders of Notes may be exercised from time to time, and as often as shall
be deemed expedient, by the Trustee or by the Holders of Notes.

       

      
        	
                Section
      4.9  

              	
                Control by Holders of
      Notes.

              

      

       

      The
Holders of a majority in aggregate principal amount of the Notes at the time
Outstanding shall have the right to direct the time, method, and place of
conducting any proceeding for any remedy available to the Trustee, or exercising
any trust or power conferred on the Trustee with respect to the Notes by this
Indenture; provided that such direction shall not be otherwise than in
accordance with law and the provisions of this Indenture and provided further
that (subject to the provisions of Section 5.1) the Trustee shall have the right
to decline to follow any such direction if the Trustee, being advised by
counsel, shall determine that the action or proceeding so directed may not
lawfully be taken or if the Trustee in good faith by its board of directors, the
executive committee, or a trust committee of directors or Responsible Officers
of the Trustee shall determine that the action or proceedings so directed would
involve the Trustee in personal liability or if the Trustee in good faith shall
so determine that the actions or forbearances specified in or pursuant to such
direction would be unduly prejudicial to the interests of Holders of the Notes
of all series so affected not joining in the giving of said direction, it being
understood that (subject to Section 5.1) the Trustee shall have no duty to
ascertain whether or not such actions or forbearances are unduly prejudicial to
such Holders.

       

      Nothing
in this Indenture shall impair the right of the Trustee in its discretion to
take any action deemed proper by the Trustee and which is not inconsistent with
such direction or directions by Holders.

       

      
        	
                Section
      4.10  

              	
                Waiver of Past
      Defaults.

              

      

       

      Prior to
the acceleration of the maturity of any Notes as provided in Section 4.1, the
Holders of a majority in aggregate principal amount of the Notes at the time
Outstanding with respect to which an Event of Default shall have occurred and be
continuing may on behalf of the Holders of all such Notes waive any past default
or Event of Default described in Section 4.1 and its consequences, except a
default in respect of a covenant or provision hereof which cannot be modified or
amended without the consent of the Holder of each Note affected. In the case of
any such waiver, the Issuer, the Trustee and the Holders of all such Notes shall
be restored to their former positions and rights hereunder, respectively; but no
such waiver shall extend to any subsequent or other default or impair any right
consequent thereon.

       

      Upon any
such waiver, such default shall cease to exist and be deemed to have been cured
and not to have occurred, and any Event of Default arising therefrom shall be
deemed to have been cured, and not to have occurred for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other default or
Event of Default or impair any right consequent thereon.

       

      
        	
                Section
      4.11  

              	
                Trustee to Give Notice
      of Default, But May Withhold in Certain
    Circumstances.

              

      

       

      The
Trustee shall, within 90 days after the occurrence of a Default with respect to
the Notes, give notice of all Defaults known to the Trustee to all Holders of
Notes in the manner and to the extent provided in § 313(c) of the Trust
Indenture Act of 1939, unless in each case such Defaults shall have been cured
before the mailing of such notice; provided that, except in the case of default
in the payment of the principal of or interest on any of the Notes, the Trustee
shall be protected in withholding such notice if and so long as the board of
directors, the executive committee, or a trust committee of directors or
trustees and/or Responsible Officers of the Trustee in good faith determines
that the withholding of such notice is in the interests of the
Holders.

       

      
        	
                Section
      4.12  

              	
                Right of Court to
      Require Filing of Undertaking to Pay
  Costs.

              

      

       

      All
parties to this Indenture agree, and each Holder of any Note by its acceptance
thereof shall be deemed to have agreed, that any court may in its discretion
require, in any suit for the enforcement of any right or remedy under this
Indenture or in any suit against the Trustee for any action taken, suffered or
omitted by it as Trustee, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys’ fees and
expenses, against any party litigant in such suit, having due regard to the
merits and good faith of the claims or defenses made by such party litigant; but
the provisions of this Section shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Holder or group of Holders holding in the
aggregate more than 10% in aggregate principal amount of the Notes, or, in the
case of any suit relating to or arising under clause (c) or (f) of Section 4.1,
or to any suit instituted by any Holder for the enforcement of the payment of
the principal of or interest on any Note on or after the due date expressed in
such Note or any date fixed for redemption.

       

      ARTICLE
FIVE

       

      CONCERNING
THE TRUSTEE

       

      
        	
                Section
      5.1  

              	
                Duties and
      Responsibilities of the Trustee; During, Default; Prior to
      Default.

              

      

       

      With
respect to the Holders of Notes issued hereunder, the Trustee, prior to the
occurrence of an Event of Default with respect to the Notes and after the curing
or waiving of all Events of Default which may have occurred, undertakes to
perform such duties and only such duties as are specifically set forth in this
Indenture.  In case an Event of Default with respect to the Notes has
occurred (which has not been cured or waived) the Trustee shall exercise with
respect to the Notes such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in their exercise, as a
prudent person would exercise or use under the circumstances in the conduct of
such person’s own affairs.

       

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

       

      (a) prior to
the occurrence of an Event of Default with respect to the Notes and after the
curing or waiving of all such Events of Default with respect to which may have
occurred:

       

      (i) the
duties and obligations of the Trustee with respect

       

      to the
Notes of any series shall be determined solely by the express provisions of this
Indenture, and the Trustee shall not be liable except for the performance of
such duties and obligations as are specifically set forth in this Indenture, and
no implied covenants or obligations shall be read into this Indenture against
the Trustee; and

       

      (ii) in the
absence of bad faith on the part of the Trustee,

       

      the
Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon any statements, certificates
or opinions furnished to the Trustee and conforming to the requirements of this
Indenture; but in the case of any such statements, certificates or opinions
which by any provision hereof are specifically required to be furnished to the
Trustee, the Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Indenture (but need not
confirm or investigate the accuracy of mathematical calculations or other facts
stated therein);

       

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

       

      (c) the
Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders
pursuant to Section 4.9 relating to the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or exercising any trust or
power conferred upon the Trustee, under this Indenture.

       

      None of
the provisions contained in this Indenture shall require the Trustee to expend
or risk its own funds or otherwise incur personal financial liability in the
performance of any of its duties or in the exercise of any of its rights or
powers, if there shall be reasonable ground for believing that the repayment of
such funds or adequate indemnity against such liability is not reasonably
assured to it.

       

      The
provisions of this Section 5.1 are in furtherance of and subject to §§ 315 and
316 of the Trust Indenture Act of 1939.

       

      
        	
                Section
      5.2  

              	
                Certain Rights of
      Trustee.

              

      

       

      In
furtherance of and subject to the Trust Indenture Act of 1939, and subject to
Section 5.1:

       

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

       

      (b) any
request, direction, order or demand of the Issuer mentioned herein shall be
sufficiently evidenced by an Officers’ Certificate (unless other evidence in
respect thereof be herein specifically prescribed); and any resolution of the
Board of Directors may be evidenced to the Trustee by a copy thereof certified
by the secretary or an assistant secretary of the Issuer;

       

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

       

      (d) the
Trustee shall be under no obligation to exercise any of the trusts or powers
vested in it by this Indenture at the request, order or direction of any of the
Holders pursuant to the provisions of this Indenture, unless such Holders shall
have offered to the Trustee security or indemnity reasonably satisfactory to it
against the costs, expenses and liabilities which might be incurred therein or
thereby,

       

      (e) 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 the discretion, rights or powers
conferred upon it by this Indenture;

       

      (f) prior to
the occurrence of an Event of Default hereunder and after the curing or waiving
of all Events of Default, the Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, consent, order,
approval, appraisal, bond, debenture, note, Note, or other paper or document
unless requested in writing so to do by the Holders of not less than a majority
in aggregate principal amount of the Notes then Outstanding; provided that, if
the payment within a reasonable time to the Trustee of the costs, expenses or
liabilities likely to be incurred by it in the making of such investigation is,
in the opinion of the Trustee, not reasonably assured to the Trustee by the
security afforded to it by the terms of this Indenture, the Trustee may require
reasonable indemnity against such expenses or liabilities as a condition to
proceeding; the reasonable expenses of every such investigation shall be paid by
the Issuer or, if paid by the Trustee or any predecessor Trustee, shall be
repaid by the Issuer upon demand;

       

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

       

      (h) 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;

       

      (i) the
Trustee shall not be deemed to have notice of any Default or Event of Default
unless a Responsible Officer of the Trustee has actual knowledge thereof or
unless written notice of any event which is in fact such a default is received
by the Trustee at the Corporate Trust Office of the Trustee, and such notice
references the Notes and this Indenture;

       

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

       

      (k) the
Trustee may request that the Issuer deliver an Officers’ Certificate setting
forth the names of individuals and/or titles of officers authorized at such time
to take specified actions pursuant to this Indenture, which Officers’
Certificate may be signed by any person authorized to sign an Officers’
Certificate, including any person specified as so authorized in any such
certificate previously delivered and not superseded.

       

      
        	
                Section
      5.3  

              	
                Trustee Not
      Responsible for Recitals Disposition of Notes or Applications of Proceeds
      Thereof.

              

      

       

      The
recitals contained herein and in the Notes, except the Trustee’s certificates of
authentication, shall be taken as the statements of the Issuer, and the Trustee
assumes no responsibility for the correctness of the same. The Trustee makes no
representation as to the validity or sufficiency of this Indenture or of the
Notes, except that the Trustee represents that it is duly authorized to execute
and deliver this Indenture, authenticate the Notes and perform all its
obligations hereunder. The Trustee shall not be accountable for the use or
application by the Issuer of any of the Notes or of the proceeds
thereof.

       

      
        	
                Section
      5.4  

              	
                Trustee and Agents May
      Hold Notes, Collections etc.

              

      

       

      The
Trustee or any agent of the Issuer or the Trustee, in its individual or any
other capacity, may become the owner or pledgee of Notes with the same rights it
would have if it were not the Trustee or such agent and may otherwise deal with
the Issuer and receive, collect, hold and retain collections from the Issuer
with the same rights it would have if it were not the Trustee or such
agent.

       

      
        	
                Section
      5.5  

              	
                Moneys Held by
      Trustee.

              

      

       

      Subject
to the provisions of Section 9.4 hereof, all moneys received by the Trustee
shall, until used or applied as herein provided, be held in trust for the
purposes for which they were received, but need not be segregated from other
funds except to the extent required by mandatory provisions of law. Neither the
Trustee nor any agent of the Issuer or the Trustee shall be under any liability
for interest on any moneys received by it hereunder.

       

      
        	
                Section
      5.6  

              	
                Compensation and
      Indemnification of Trustee and Its Prior
  Claim.

              

      

       

      The
Issuer covenants and agrees to pay to the Trustee from time to time, and the
Trustee shall be entitled to, such compensation as shall be agreed upon in
writing (which shall not be limited by any provision of law in regard to the
compensation of a trustee of an express trust) and the Issuer covenants and
agrees to pay or reimburse the Trustee and each predecessor Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or made
by or on behalf of it in accordance with any of the provisions of this Indenture
(including the reasonable compensation and the expenses and disbursements of its
counsel and of all agents and other persons not regularly in its employ) except
any such expense, disbursement or advance as shall have been determined to have
been caused by its own negligence or willful misconduct. The Issuer also
covenants to indemnify the Trustee and each predecessor Trustee for, and to hold
it harmless against, any and all loss, liability, claim, damage or expense,
including taxes (other than those based on or measured by the income of the
Trustee) incurred without negligence or willful misconduct on its part, arising
out of or in connection with the acceptance or administration of this Indenture
or the trusts hereunder and its duties hereunder, including the costs and
expenses of defending itself against or investigating any claim of liability
(whether asserted by the Issuer, any Holder or any other Person) in the
premises. The obligations of the Issuer under this Section to compensate and
indemnify the Trustee and each predecessor Trustee and to pay or reimburse the
Trustee and each predecessor Trustee for expenses, disbursements and advances
shall constitute additional indebtedness hereunder and shall survive the
satisfaction and discharge of this Indenture or the resignation or removal of
the Trustee. Such additional indebtedness shall be a senior claim to that of the
Notes upon all property and funds held or collected by the Trustee as such,
except funds held in trust for the benefit of the Holders of particular Notes,
and the Notes are hereby subordinated to such senior claim. When the Trustee
incurs expenses or renders services in connection with an Event of Default
specified in Section 4.1(d) or 4.1(e), the expenses (including the reasonable
charges and expenses of its counsel) and the compensation for the services are
intended to constitute expenses of administration under any applicable Federal
or state bankruptcy, insolvency or other similar law.

       

      
        	
                Section
      5.7  

              	
                Right of Trustee to
      Rely on Officers’
Certificate.

              

      

       

      Subject
to Sections 5.1 and 5.2, whenever in the administration of the trusts of this
Indenture the Trustee shall deem it necessary or desirable that a matter be
proved or established prior to taking or suffering or omitting any action
hereunder, such matter (unless other evidence in respect thereof be herein
specifically prescribed) may, in the absence of negligence or bad faith on the
part of the Trustee, be deemed to be conclusively proved and established by an
Officers’ Certificate delivered to the Trustee, and such certificate, in the
absence of negligence or 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
      5.8  

              	
                Persons Eligible for
      Appointment as Trustee.

              

      

       

      The
Trustee shall at all times be a corporation organized and doing business under
the laws of the United States of America or of any state or the District of
Columbia having a combined capital and surplus of at least $50,000,000, and
which is eligible in accordance with the provisions of § 310(a) of the Trust
Indenture Act of 1939. If such corporation publishes reports of condition at
least annually, pursuant to law or to the requirements of a federal, state or
District of Columbia supervising or examining authority, then for the purposes
of this Section, the combined capital and surplus of such corporation shall be
deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published.

       

      
        	
                Section
      5.9  

              	
                Resignation and
      Removal; Appointment of Successor
Trustee

              

      

       

      The
Trustee, or any trustee or trustees hereafter appointed, may at any time resign
by giving written notice of resignation to the Issuer and by mailing notice of
such resignation to the Holders of then Outstanding Notes at their addresses as
they shall appear on the registry books. Upon receiving such notice of
resignation, the Issuer shall promptly appoint a successor trustee or trustees
with respect to the applicable series by written instrument in duplicate,
executed by authority of the Board of Directors, one copy of which instrument
shall be delivered to the resigning Trustee and one copy to the successor
trustee or trustees. If no successor trustee shall have been so appointed and
have accepted appointment within 30 days after the mailing of such notice of
resignation, the resigning trustee may petition any court of competent
jurisdiction at the expense of the Issuer for the appointment of a successor
trustee, or any Holder who has been a bona fide Holder of a Note or Notes for at
least six months may, subject to the provisions of Section 4.12, on behalf of
himself and all others similarly situated, petition any such court for the
appointment of a successor trustee. Such court may thereupon, after such notice,
if any, as it may deem proper and prescribe, appoint a successor
trustee.

       

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

       

      (i) the
Trustee shall fail to comply with the provisions of § 310(b) of the Trust
Indenture Act of 1939 after written request therefor by the Issuer or by any
Holder who has been a bona fide Holder of a Note or Notes of such series for at
least six months; or

       

      (ii) the
Trustee shall cease to be eligible in accordance with the provisions of § 310(a)
of the Trust Indenture Act of 1939 and shall fail to resign after written
request therefor by the Issuer or by any Holder; or

       

      (iii) the
Trustee shall become incapable of acting with respect to the Notes, or shall be
adjudged a bankrupt or insolvent, or a receiver or liquidator 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, the Issuer may remove the Trustee and appoint a successor trustee
for such series by written instrument, in duplicate, executed by order of the
Board of Directors, one copy of which instrument shall be delivered to the
Trustee so removed and one copy to the successor trustee, or, subject to §
315(e) of the Trust Indenture Act of 1939, any Holder who has been a bona fide
Holder of a Note or Notes for at least six months may on behalf of himself and
all others similarly situated, petition any court of competent jurisdiction for
the removal of the Trustee and the appointment of a successor trustee. Such
court may thereupon, after such notice, if any, as it may deem proper and
prescribe, remove the Trustee and appoint a successor trustee. If an instrument
of acceptance by a successor Trustee shall not have been delivered to the
Trustee within 30 days after the giving of such notice of removal, the Trustee
being removed may petition, at the expense of the Issuer, any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the
Notes.

       

      (b) The
Holders of a majority in aggregate principal amount of the Notes at the time
Outstanding may at any time remove the Trustee with respect to the Notes and
appoint a successor trustee with respect to the Notes by delivering to the
Trustee so removed, to the successor trustee so appointed and to the Issuer the
evidence provided for in Section 6.1 of the action in that regard taken by the
Holders.

       

      Any
resignation or removal of the Trustee and any appointment of a successor trustee
with respect to such series pursuant to any of the provisions of this Section
5.9 shall become effective upon acceptance of appointment by the successor
trustee as provided in Section 5.10

       

      
        	
                Section
      5.10  

              	
                Acceptance and
      Appointment of Successor
Trustee.

              

      

       

      Any
successor trustee appointed as provided in Section 5.9 shall execute and deliver
to the Issuer and to its predecessor trustee an instrument accepting such
appointment hereunder, and thereupon the resignation or removal of the
predecessor trustee with respect to all Notes shall become effective and such
successor trustee, without any further act, deed or conveyance, shall become
vested with all rights, powers, duties and obligations with respect to such
Notes of its predecessor hereunder, with like effect as if originally named as
trustee for the Notes hereunder; but, nevertheless, on the written request of
the Issuer or of the successor trustee, upon payment of its charges then unpaid,
the trustee ceasing to act shall, subject to Section 9.4, pay over to the
successor trustee all moneys at the time held by it hereunder and shall execute
and deliver an instrument transferring to such successor trustee all such
rights, powers, duties and obligations. Upon request of any such successor
trustee, the Issuer shall execute any and all instruments in writing for more
fully and certainly vesting in and confirming to such successor trustee all such
rights and powers. Any trustee ceasing to act shall, nevertheless, retain a
prior claim upon all property or funds held or collected by such trustee to
secure any amounts then due it pursuant to the provisions of Section
5.6.

       

      Upon
acceptance of appointment by any successor trustee as provided in this Section
5.10, the Issuer shall give notice thereof to the Holders thereof by mailing
such notice to such Holders at their addresses as they shall appear on the
registry books. If the acceptance of appointment is substantially
contemporaneous with the resignation, then the notice called for by the
preceding sentence may be combined with the notice called for by Section 5.9. If
the Issuer fails to give such notice within ten days after acceptance of
appointment by the successor trustee, the successor trustee shall cause such
notice to be given at the expense of the Issuer.

       

      
        	
                Section
      5.11  

              	
                Merger, Conversion,
      Consolidation or Succession to Business of
  Trustee.

              

      

       

      Any
corporation into which the Trustee may be merged or converted or with which it
may be consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Trustee shall be a party, or any corporation
succeeding to all or substantially all the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided that such
corporation shall be eligible under the provisions of Section 5.8, without the
execution or filing of any paper or any further act on the part of any of the
parties hereto, anything herein to the contrary notwithstanding.

       

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

       

      
        	
                Section
      5.12  

              	
                Appointment of
      Authenticating Agent.

              

      

       

      As long
as any Notes remain Outstanding, the Trustee may, by an instrument in writing,
appoint with the approval of the Issuer an authenticating agent (the
“Authenticating Agent”) which shall be authorized to act on behalf of the
Trustee to authenticate Notes, including Notes issued upon exchange,
registration of transfer, partial redemption or pursuant to Section 2.7. Notes
authenticated by such Authenticating Agent shall be entitled to the benefits of
this Indenture and shall be valid and obligatory for all purposes as if
authenticated by the Trustee. Whenever reference is made in this Indenture to
the authentication and delivery of Notes by the Trustee or to the Trustee’s
certificate of authentication, such reference shall be deemed to include
authentication and delivery on behalf of the Trustee by an Authenticating Agent
for such series and a certificate of authentication executed on behalf of the
Trustee by such Authenticating Agent. Such Authenticating Agent shall at all
times be a corporation organized and doing business under the laws of the United
States of America or of any State, authorized under such laws to exercise
corporate trust powers, having a combined capital and surplus of at least
$50,000,000 (determined as provided in Section 5.8 with respect to the Trustee)
and subject to supervision or examination by Federal or State
authority.

       

      Any
corporation into which any 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 any Authenticating Agent shall be a party,
or any corporation succeeding to the corporate agency business of any
Authenticating Agent, shall continue to be the Authenticating Agent with respect
to the Notes for which it served as Authenticating Agent without the execution
or filing of any paper or any further act on the part of the Trustee or such
Authenticating Agent.

       

      Any
Authenticating Agent may at any time, and if it shall cease to be eligible
shall, resign by giving written notice of resignation to the Trustee and to the
Issuer. The Trustee may at any time terminate the agency of any Authenticating
Agent by giving written notice of termination to such Authenticating Agent and
to the Issuer. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time any Authenticating Agent shall cease to be
eligible in accordance with the provisions of this Section 5.12 with respect to
the Notes, the Trustee may upon receipt of an Issuer Order appoint a successor
Authenticating Agent and the Issuer shall provide notice of such appointment to
all Holders of Notes of such series in the manner and to the extent provided in
Section 5.10. Any successor Authenticating Agent upon acceptance of its
appointment hereunder shall become vested with all rights, powers, duties and
responsibilities of its predecessor hereunder, with like effect as if originally
named as Authenticating Agent. The Issuer agrees to pay to the Authenticating
Agent for such series from time to time reasonable compensation. The
Authenticating Agent for the Notes shall have no responsibility or liability for
any action taken by it as such at the direction of the Trustee.

       

      Sections
5.2, 5.3, 5.4, 5.6, 5.8 and 6.3 shall be applicable to any Authenticating
Agent.

       

      ARTICLE
SIX

       

      CONCERNING
THE HOLDERS

       

      
        	
                Section
      6.1  

              	
                Evidence of Action
      Taken by Holders.

              

      

       

      Any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by a specified percentage
in principal amount of the Holders may be embodied in and evidenced by one or
more instruments of substantially similar tenor signed by such specified
percentage of Holders in person or by an agent duly appointed in writing; and,
except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments are delivered to the Trustee.
Proof of execution of any instrument or of a writing appointing any such agent
shall be sufficient for any purpose of this Indenture and (subject to Sections
5.1 and 5.2) conclusive in favor of the Trustee and the Issuer, if made in the
manner provided in this Article.

       

      
        	
                Section
      6.2  

              	
                Proof of Execution of
      Instruments and of Holding of
Notes.

              

      

       

      Subject
to Sections 5.1 and 5.2, the execution of any instrument by a Holder or his
agent or proxy may be proved in the following manner:

       

      (i) The fact
and date of the execution by any Holder of any instrument may be proved by the
certificate of any notary public or other officer of any jurisdiction authorized
to take acknowledgments of deeds or administer oaths that the Person executing
such instruments acknowledged to him the execution thereof, or by an affidavit
of a witness to such execution sworn to before any such notary or other such
officer. Where such execution is by or on behalf of any legal entity other than
an individual, such certificate or affidavit shall also constitute sufficient
proof of the authority of the Person executing the same. The fact of the holding
by any Holder of a Note, and the identifying number of such Note and the date of
his holding the same, may be proved by the production of such Note or by a
certificate executed by any trust company, bank, banker or recognized securities
dealer wherever situated satisfactory to the Trustee, if such certificate shall
be deemed by the Trustee to be satisfactory. Each such certificate shall be
dated and shall state that on the date thereof a Note bearing a specified
identifying number was deposited with or exhibited to such trust company, bank,
banker or recognized securities dealer by the Person named in such certificate.
Any such certificate may be issued in respect of one or more Notes specified
therein. The holding by the Person named in any such certificate of any Notes
specified therein shall be presumed to continue for a period of one year from
the date of such certificate unless at the time of any determination of such
holding (1) another certificate bearing a later date issued in respect of the
same Notes shall be produced, or (2) the Note specified in such certificate
shall be produced by some other Person, or (3) the Note specified in such
certificate shall have ceased to be Outstanding. The fact and date of the
execution of any such instrument and the amount and numbers of Notes held by the
Person so executing such instrument and the amount and numbers of any Note or
Notes may also be proven in accordance with such reasonable rules and
regulations as may be prescribed by the Trustee for such series or in any other
manner which the Trustee for such series may deem sufficient.

       

      (ii) The
ownership of Notes shall be proved by the Security Register or by a certificate
of the Registrar.

       

      
        	
                Section
      6.3  

              	
                Holders to be Treated
      as Owners.

              

      

       

      The
Issuer, the Trustee and any agent of the Issuer or the Trustee may deem and
treat the Person in whose name any Note shall be registered upon the Note
register as the absolute owner of such Note (whether or not such Note shall be
overdue and notwithstanding any notation of ownership or other writing thereon)
for the purpose of receiving payment of or on account of the principal of and,
subject to the provisions of this Indenture, interest on such Note and for all
other purposes; and neither the Issuer nor the Trustee nor any agent of the
Issuer or the Trustee shall be affected by any notice to the contrary. The
Issuer, the Trustee and any agent of the Issuer or the Trustee may treat the
Holder of any Note as the absolute owner of such Note for the purpose of
receiving payment thereof or on account thereof and for all other purposes and
neither the Issuer, the Trustee, nor any agent of the Issuer or the Trustee
shall be affected by any notice to the contrary. All such payments so made to
any such Person, or upon his order, shall be valid, and, to the extent of the
sum or sums so paid, effectual to satisfy and discharge the liability for moneys
payable upon any such Note.

       

      
        	
                Section
      6.4  

              	
                Notes Owned by Issuer
      Deemed Not Outstanding.

              

      

       

      In
determining whether the Holders of the requisite aggregate principal amount of
Outstanding Notes have concurred in any direction, consent or waiver under this
Indenture, Notes which are owned by the Issuer or any other obligor on the Notes
with respect to which such determination is being made or by any Person directly
or indirectly controlling or controlled by or under direct or indirect common
control with the Issuer or any other obligor on the Notes with respect to which
such determination is being made shall be disregarded and deemed not to be
Outstanding for the purpose of any such determination, except that for the
purpose of determining whether the Trustee shall be protected in relying on any
such direction, consent or waiver only Notes which the Trustee knows are so
owned shall be so disregarded. Notes so owned which have been pledged in good
faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Trustee the pledgee’s right so to act with respect to such
Notes and that the pledgee is not the Issuer or any other obligor upon the Notes
or any Person directly or indirectly controlling or controlled by or under
direct or indirect common control with the Issuer or any other obligor on the
Notes. In case of a dispute as to such right, the advice of counsel shall be
full protection in respect of any decision made by the Trustee in accordance
with such advice. Upon request of the Trustee, the Issuer shall furnish to the
Trustee promptly an Officers’ Certificate listing and identifying all Notes, if
any, known by the Issuer to be owned or held by or for the account of any of the
above-described Persons; and, subject to Sections 5.1 and 5.2, the Trustee shall
be entitled to accept such Officers’ Certificate as conclusive evidence of the
facts therein set forth and of the fact that all Notes not listed therein are
Outstanding for the purpose of any such determination.

       

      
        	
                Section
      6.5  

              	
                Right of Revocation of
      Action Taken.

              

      

       

      At any
time prior to (but not after) the evidencing to the Trustee, as provided in
Section 6.1, of the taking of any action by the Holders of the percentage in
aggregate principal amount of the Notes specified in this Indenture in
connection with such action, any Holder the serial number of which is shown by
the evidence to be included among the serial numbers of the Notes the Holders of
which have consented to such action may, by filing written notice at the
Corporate Trust Office and upon proof of holding as provided in this Article,
revoke such action so far as concerns such Note. Except as aforesaid any such
action taken by the Holder of any Note shall be conclusive and binding upon such
Holder and upon all future Holders and owners of such Note and of any Notes
issued in exchange or substitution therefor or on registration of transfer
thereof, irrespective of whether or not any notation in regard thereto is made
upon any such Note. Any action taken by the Holders of the percentage in
aggregate principal amount of the Notes specified in this Indenture in
connection with such action shall be conclusively binding upon the Issuer, the
Trustee and the Holders of all the Notes affected by such action.

       

      ARTICLE
SEVEN

       

      AMENDMENTS

       

      
        	
                Section
      7.1  

              	
                Amendments and
      Supplements Without Consent of
Holders.

              

      

       

      The
Issuer, when authorized by a resolution of its Board of Directors (which
resolution may provide general terms or parameters for such action and may
provide that the specific terms of such action may be determined in accordance
with or pursuant to an Officers’ Certificate), and the Trustee may from time to
time and at any time enter into an amend or supplement this Indenture for one or
more of the following purposes:

       

      (a) to
convey, transfer, assign, mortgage or pledge to the Trustee as security for the
Notes any property or assets;

       

      (b) to
evidence the succession of another Person to the Issuer, or successive
successions, and the assumption by the successor Person of the covenants,
agreements and obligations of the Issuer pursuant to Article Eight;

       

      (c) to add to
the covenants of the Issuer such further covenants, restrictions, conditions or
provisions as the Issuer and the Trustee shall consider to be for the protection
of the Holders of Notes and to make the occurrence, or the occurrence and
continuance, of a default in any such additional covenants, restrictions,
conditions or provisions an Event of Default permitting the enforcement of all
or any of the several remedies provided in this Indenture as herein set forth;
provided, that in respect of any such additional covenant, restriction,
condition or provision such supplemental indenture may provide for a particular
period of grace after default (which period may be shorter or longer than that
allowed in the case of other defaults) or may provide for an immediate
enforcement upon such an Event of Default or may limit the remedies available to
the Trustee upon such an Event of Default or may limit the right of the Holders
of a majority in aggregate principal amount of the Notes to waive such an Event
of Default;

       

      (d) to cure
any ambiguity or to correct or supplement any provision contained herein or in
any supplemental indenture which may be defective or inconsistent with any other
provision contained herein or in any supplemental indenture, or to make any
other provisions as the Issuer may deem necessary or desirable, provided that no
such action shall materially adversely affect the interests of the Holders of
the Notes;

       

      (e) to
establish the form or terms of the Notes or Additional Notes; and

       

      (f) to
evidence and provide for the acceptance of appointment hereunder by a successor
trustee with respect to the Notes and to add to or change any of the provisions
of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one trustee, pursuant to the
requirements of Section 5.10.

       

      The
Trustee is hereby authorized to join with the Issuer in the execution of any
such amendment or supplement, to make any further appropriate agreements and
stipulations which may be therein contained and to accept the conveyance,
transfer, assignment, mortgage or pledge of any property thereunder, but the
Trustee shall not be obligated to enter into any such amendment or supplement
that affects the Trustee’s own rights, duties or immunities under this Indenture
or otherwise.

       

      Any
amendment or supplement authorized by the provisions of this Section may be
executed without the consent of the Holders of any of the Notes at the time
Outstanding, notwithstanding any of the provisions of Section 7.2.

       

      
        	
                Section
      7.2  

              	
                Amendments and
      Supplements With Consent of
Holders

              

      

       

      With the
consent (evidenced as provided in Article Six) of the Holders of not less than a
majority in aggregate principal amount of the Notes at the time Outstanding
affected by such amendment or supplement, the Issuer, when authorized by a
resolution of its Board of Directors (which resolution may provide general terms
or parameters for such action and may provide that the specific terms of such
action may be determined in accordance with or pursuant to an Issuer Order), and
the Trustee may, from time to time and at any time, amendment or supplement this
Indenture for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of this Indenture or of any amendment or
supplement hereto or of modifying in any manner the rights of the Holders of the
Notes; provided, that no such amendment or supplement shall (a) extend the final
maturity of any Note, or reduce the principal amount thereof, or reduce the rate
or extend the time of payment of interest thereon, or reduce any amount payable
on redemption thereof, or make the principal thereof or interest thereon payable
in any coin or currency other than that provided in the Notes that would be due
and payable upon an acceleration of the maturity thereof pursuant to Section 4.1
or the amount thereof provable in bankruptcy pursuant to Section 4.2 or impair
or affect the right of any Holder to institute suit for the payment thereof or,
if the Notes provide therefor, any right of repayment at the option of the
Holder, in each case without the consent of the Holder of each Note so affected,
or (b) reduce the aforesaid percentage of Notes of any series, the consent of
the Holders of which is required for any such amendment or supplement, without
the consent of the Holders of each Note so affected.

       

      Upon the
request of the Issuer, accompanied by a copy of a resolution of the Board of
Directors (which resolution may provide general terms or parameters for such
action and may provide that the specific terms of such action may be determined
in accordance with or pursuant to an Issuer Order) certified by the secretary or
an assistant secretary of the Issuer authorizing the execution of any such
amendment or supplement, and upon the filing with the Trustee of evidence of the
consent of the Holders of the Notes as aforesaid and other documents, if any,
required by Section 6.1, the Trustee shall join with the Issuer in the execution
of such amendment or supplement unless such amendment or supplement affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise, in
which case the Trustee may in its discretion, but shall not be obligated to,
enter into such amendment or supplement.

       

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

       

      Promptly
after the execution by the Issuer and the Trustee of any amendment or supplement
pursuant to the provisions of this Section, the Trustee shall give notice
thereof to the Holders of then Outstanding Registered Notes by mailing a notice
thereof by first-class mail to such Holders at their addresses as they shall
appear on the Note register, and in each case such notice shall set forth in
general terms the substance of such amendment or supplement. Any failure of the
Issuer to give such notice, or any defect therein, shall not, however, in any
way impair or affect the validity of any such amendment or
supplement.

       

      
        	
                Section
      7.3  

              	
                Effect of Amendment or
      Supplement to this
Indenture.

              

      

       

      Upon the
execution of any amendment or supplement pursuant to the provisions hereof, this
Indenture shall be and be deemed to be modified and amended in accordance
therewith and the respective rights, limitations of rights, obligations, duties
and immunities under this Indenture of the Trustee, the Issuer and the Holders
of Notes affected thereby shall thereafter be determined, exercised and enforced
hereunder subject in all respects to such modifications and amendments, and all
the terms and conditions of any such amendment or supplement shall be and be
deemed to be part of the terms and conditions of this Indenture for any and all
purposes.

       

      
        	
                Section
      7.4  

              	
                Documents to Be Given
      to Trustee.

              

      

       

      The
Trustee, subject to the provisions of Sections 5.1 and 5.2, shall be provided
with an Officers’ Certificate and an Opinion of Counsel as conclusive evidence
that any amendment or supplement to this Indenture executed pursuant to this
Article complies with the applicable provisions of this Indenture and is
authorized or permitted under this Indenture.

       

      
        	
                Section
      7.5  

              	
                Notation on Notes in
      Respect of Amendments and
Supplements.

              

      

       

      Notes
authenticated and delivered after the execution of any amendment or supplement
to this Indenture pursuant to the provisions of this Article may bear a notation
in form approved by the Trustee as to any matter provided for by such amendment
or supplement or as to any action taken by Holders. If the Issuer or the Trustee
shall so determine, new Notes so modified as to conform, in the opinion of the
Trustee and the Board of Directors, to any modification of this Indenture
contained in any such amendment or supplement may be prepared by the Issuer,
authenticated by the Trustee and delivered in exchange for the Notes then
Outstanding.

       

      ARTICLE
EIGHT

       

      SUCCESSORS

       

      
        	
                Section
      8.1  

              	
                Merger, Consolidation
      or Sale of Assets of the
Issuer.

              

      

       

      The
Issuer shall not consolidate with or merge into any other Person or convey,
transfer or lease its properties and assets substantially as an entirety to any
Person, unless:

       

      (i) the
Person formed by such consolidation or into which the Issuer is merged or the
Person which acquires by conveyance, transfer or lease the properties and assets
of the Issuer substantially as an entirety shall expressly assume, by a
supplemental indenture hereto, executed and delivered to the Trustee, in form
satisfactory to the Trustee, the due and punctual payment of the principal of
and interest on all the Notes according to their tenor, and the performance of
every covenant of this Indenture on the part of the Issuer to be performed or
observed;

       

      (ii) immediately
after giving effect to such transaction, no Event of Default, and no event
which, after notice or lapse of time, or both, would become an Event of Default,
shall have happened and be continuing; and

       

      (iii) the
Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel each stating that such consolidation, merger, conveyance, transfer or
lease and such supplemental indenture comply with this Article and that all
conditions precedent herein provided for relating to such transaction have been
complied with.

       

      
        	
                Section
      8.2  

              	
                Successor Person
      Substituted.

              

      

       

      In case
of any such consolidation, merger, sale, lease or conveyance, and following such
an assumption by the successor Person, such successor Person shall succeed to
and be substituted for the Issuer, with the same effect as if it had been named
herein. Such successor Person may cause to be signed, and may issue either in
its own name or in the name of the Issuer prior to such succession any or all of
the Notes issuable hereunder that theretofore shall not have been signed by the
Issuer and delivered to the Trustee; and, upon the order of such successor
Person, instead of the Issuer, and subject to all the terms, conditions and
limitations in this Indenture prescribed, the Trustee shall authenticate and
shall deliver any Notes which previously shall have been signed and delivered by
the officers of the Issuer to the Trustee for authentication, and any Notes
which such successor Person thereafter shall cause to be signed and delivered to
the Trustee for that purpose. All of the Notes so issued shall in all respects
have the same legal rank and benefit under this Indenture as the Notes
theretofore or thereafter issued in accordance with the terms of this Indenture
as though all of such Notes had been issued at the date of the execution
hereof.

       

      In case
of any such consolidation, merger, sale, lease or conveyance such changes in
phrasing and form (but not in substance) may be made in the Notes thereafter to
be issued as may be appropriate.

       

      In the
event of any such sale or conveyance (other than a conveyance by way of lease)
the Issuer or any successor Person which shall theretofore have become such in
the manner described in this Article shall be discharged from all obligations
and covenants under this Indenture and the Notes and may be liquidated and
dissolved.

       

      ARTICLE
NINE

       

      SATISFACTION
AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS

       

      
        	
                Section
      9.1  

              	
                Satisfaction and
      Discharge of Indenture.

              

      

       

      (a) If at any
time (a) the Issuer shall have paid or caused to be paid the principal of and
interest on all the Notes Outstanding hereunder (other than Notes which have
been destroyed, lost or stolen and which have been replaced or paid as provided
in Section 2.7) as and when the same shall have become due and payable, or (b)
the Issuer shall have delivered to the Trustee for cancellation all Notes
theretofore authenticated (other than any Notes which shall have been destroyed,
lost or stolen and which shall have been replaced or paid as provided in Section
2.7) or (c) in the case of Notes where the exact or maximum amount of principal
of and interest due on which can be determined at the time of making the deposit
referred to in clause (ii) below, (i) all the Notes not theretofore delivered to
the Trustee for cancellation shall have become due and payable, or are by their
terms to become due and payable within one year or are to be called for
redemption within one year under arrangements satisfactory to the Trustee for
the giving of notice of redemption, and (ii) the Issuer shall have irrevocably
deposited or caused to be deposited with the Trustee as trust funds the entire
amount in cash (other than moneys repaid by the Trustee or any paying agent to
the Issuer in accordance with Section 9.4), or, direct obligations of the United
States of America, backed by its full faith and credit (“U.S. Government
Obligations”), maturing as to principal and interest at such times and in such
amounts as will insure the availability of cash, or a combination thereof,
sufficient in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the
Trustee, to pay (A) the principal of and interest on all Notes on each date that
such principal or interest is due and payable and (B) any mandatory sinking fund
payments applicable to Notes of such Series on the dates on which such payments
are due and payable in accordance with the terms of the Indenture and the Notes;
and if, in any such case, the Issuer shall also pay or cause to be paid all
other sums payable hereunder by the Issuer with respect to the Notes, then this
Indenture with respect to the Notes shall cease to be of further effect (except
as to (i) rights of registration of transfer and exchange of Notes and the
Issuer’s right of optional redemption, if any, (ii) substitution of mutilated,
defaced, destroyed, lost or stolen Notes, (iii) rights of Holders of Notes to
receive payments of principal thereof and interest thereon, upon the original
stated due dates therefor (but not upon acceleration), and remaining rights of
the Holders to receive mandatory sinking fund payments, if any, (iv) the rights,
obligations, duties and immunities of the Trustee hereunder, and (v) the rights
of the Holders of Notes as beneficiaries hereof with respect to the property so
deposited with the Trustee payable to all or any of them) and the Trustee, on
demand of the Issuer accompanied by an Officers’ Certificate and an Opinion of
Counsel and at the cost and expense of the Issuer, shall execute proper
instruments acknowledging such satisfaction of and discharging this Indenture
with respect to the Notes; provided, that the rights of Holders of the Notes to
receive amounts in respect of principal of and interest on the Notes held by
them shall not be delayed longer than required by then-applicable mandatory
rules or policies of any securities exchange upon which the Notes are listed.
The Issuer agrees to reimburse the Trustee for any costs or expenses thereafter
reasonably and properly incurred and to compensate the Trustee for any services
thereafter reasonably and properly rendered by the Trustee in connection with
this Indenture or the Notes.

       

      (b) The
following provisions shall apply to the Notes unless specifically otherwise
provided in a Board Resolution, Officers’ Certificate or indenture supplemental
hereto provided pursuant to Section 2.15. In addition to discharge of the
Indenture pursuant to the next preceding paragraph, in the case of Notes the
exact or maximum amounts (including the currency of payment) of principal of and
interest due on which can be determined at the time of making the deposit
referred to in clause (a) below, the Issuer shall be deemed to have paid and
discharged the entire indebtedness on all the Notes on the 91st day after the
date of the deposit referred to in subparagraph (a) below, and the provisions of
this Indenture with respect to the Notes shall no longer be in effect (except as
to (i) rights of registration of transfer and exchange of Notes and the Issuer’s
right of optional redemption, if any, (ii) substitution of mutilated, defaced,
destroyed, lost or stolen Notes, (iii) rights of Holders of Notes to receive
payments of principal thereof and interest thereon, upon the original stated due
dates therefor (but not upon acceleration), and remaining rights of the Holders
to receive mandatory sinking fund payments, if any, (iv) the rights,
obligations, duties and immunities of the Trustee hereunder, and (v) the rights
of the Holders of Notes as beneficiaries hereof with respect to the property so
deposited with the Trustee payable to all or any of them) and the Trustee, at
the expense of the Issuer, shall at the Issuer’s request, execute proper
instruments acknowledging the same, if

       

      (i) with
reference to this provision the Issuer has irrevocably deposited or caused to be
irrevocably deposited with the Trustee as trust funds in trust, specifically
pledged as security for, and dedicated solely to, the benefit of the Holders of
the Notes (i) cash in an amount, or (ii) U.S. Government Obligations, maturing
as to principal and interest at such times and in such amounts as will insure
the availability of cash or (iii) a combination thereof, sufficient, in the
opinion of a nationally recognized firm of independent public accountants
expressed in a written certification thereof delivered to the Trustee, to pay
(A) the principal of and interest on all Notes on each date that such principal
or interest is due and payable and (B) any mandatory sinking fund payments on
the dates on which such payments are due and payable in accordance with the
terms of the Indenture and the Notes;

       

      (ii) such
deposit will not result in a breach or violation of, or constitute a default
under, any agreement or instrument (other than this Indenture) to which the
Issuer is a party or by which it is bound;

       

      (iii) the
Issuer has delivered to the Trustee an Opinion of Counsel based on the fact that
(x) the Issuer has received from, or there has been published by, the Internal
Revenue Service a ruling or (y) since the date hereof, there has been a change
in the applicable Federal income tax law, in either case to the effect that, and
such opinion shall confirm that, the Holders of the Notes will not recognize
income, gain or loss for Federal income tax purposes as a result of such
deposit, defeasance and discharge and will be subject to Federal income tax on
the same amounts, in the same manner and at the same times, as would have been
the case if such deposit, defeasance and discharge had not
occurred;

       

      (iv) the
Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent provided for relating to the
defeasance contemplated by this provision have been complied with;
and

       

      (v) no Event
of Default or event which with notice or lapse of time or both would become an
Event of Default with respect to the Notes shall have occurred and be continuing
on the date of such deposit or, insofar as subsections 4.1(d) and (e) are
concerned, at any time during the period ending on the 91st day after the date
of such deposit, other than an Event of Default or such event resulting from the
borrowing of funds to be applied to such deposit.

       

      (c) The
following provisions shall apply to the Notes of each series unless specifically
otherwise provided in a Board Resolution, Officers’ Certificate or indenture
supplemental hereto provided pursuant to Section 2.15. In the case of Notes the
exact or maximum amounts (including the currency of payment) of principal of and
interest due on the Notes can be determined at the time of making the deposit
referred to in clause (a) below, the Issuer shall be released from its
obligations under Sections 3.4, 3.5 and 8.1 with respect to the Outstanding
Notes on and after the date the conditions set forth below are satisfied
(hereinafter, “covenant defeasance”). For this purpose, such covenant defeasance
means that, with respect to the Outstanding Notes, the Issuer may omit to comply
with and shall have no liability in respect of any term, condition or limitation
set forth in such Sections, whether directly or indirectly by reason of any
reference elsewhere herein to such Sections or by reason of any reference in
such Sections to any other provision herein or in any other document and such
omission to comply shall not constitute an Event of Default under Section 4. 1,
but the remainder of this Indenture and such Notes shall be unaffected thereby.
The following shall be the conditions to application of this subsection (c) of
this Section 9.1:

       

      (i) The
Issuer has irrevocably deposited or caused to be deposited with the Trustee as
trust funds in trust for the purpose of making the following payments,
specifically pledged as security for, and dedicated solely to, the benefit of
the Holders of the Notes, (i) cash in an amount, or (ii) U.S. Government
Obligations maturing as to principal and interest at such times and in such
amounts as will insure the availability of cash or (iii) a combination thereof,
sufficient, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the
Trustee, to pay (A) the principal of and interest on all Notes on each date that
such principal and interest is due and payable and (B) any mandatory sinking
fund payments applicable to such Notes on the day on which such payments are due
and payable in accordance with the terms of the Indenture and the
Notes;

       

      (ii) No Event
of Default or event which with notice or lapse of time or both would become an
Event of Default with respect to the Notes shall have occurred and be continuing
on the date of such deposit or, insofar as subsections 4.1(d) and (e) are
concerned, at any time during the period ending on the 91st day after the date
of such deposit, other than an Event of Default or such event resulting from the
borrowing of funds to be applied to such deposit;

       

      (iii) Such
covenant defeasance shall not result in a breach or violation of, or constitute
a default under any agreement or instrument (other than this Indenture) to which
the Issuer is a party or by which it is bound;

       

      (iv) The
Issuer shall have delivered to the Trustee an Officers’ Certificate and Opinion
of Counsel to the effect that the Holders of the Notes will not recognize
income, gain or loss for federal income tax purposes as a result of such
covenant defeasance and will be subject to federal income tax on the same
amounts, in the same manner and at the same times as would have been the case if
such covenant defeasance had not occurred; and

       

      (v) The
Issuer shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for
relating to the covenant defeasance contemplated by this provision have been
complied with.

       

      
        	
                Section
      9.2  

              	
                Application by Trustee
      of Funds Deposited for Payment of
Notes.

              

      

       

      Subject
to Section 9.4, all moneys deposited with the Trustee (or other trustee)
pursuant to Section 9.1 shall be held in trust and applied by it to the payment,
either directly or through any paying agent (including the Issuer acting as its
own paying agent), to the Holders of the particular Notes for the payment or
redemption of which such moneys have been deposited with the Trustee, of all
sums due and to become due thereon for principal and interest; but such money
need not be segregated from other funds except to the extent required by
law.

       

      
        	
                Section
      9.3  

              	
                Repayment of Moneys
      Held by Paying Agent.

              

      

       

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

       

      
        	
                Section
      9.4  

              	
                Return of Moneys Held
      by Trustee and Paving Agent Unclaimed for Two
  Years.

              

      

       

      Any
moneys deposited with or paid to the Trustee or any paying agent for the payment
of the principal of or interest on any Note and not applied but remaining
unclaimed for two years after the date upon which such principal or interest
shall have become due and payable, shall, upon the written request of the Issuer
and unless otherwise required by mandatory provisions of applicable escheat or
abandoned or unclaimed property law, be repaid to the Issuer by the Trustee or
such paying agent, and the Holder of the Notes shall, unless otherwise required
by mandatory provisions of applicable escheat or abandoned or unclaimed property
laws, thereafter look only to the Issuer for any payment which such Holder may
be entitled to collect, and all liability of the Trustee or any paying agent
with respect to such moneys shall thereupon cease; provided, however, that the
Trustee or such paying agent, before being required to make any such repayment
with respect to moneys deposited with it for any payment  in respect
of Registered Notes of any series, shall at the expense of the Issuer, mail by
first-class mail to Holders of such Notes at their addresses as they shall
appear on the Note register, notice, that such moneys remain and that, after a
date specified therein, which shall not be less than 30 days from the date of
such mailing or publication, any unclaimed balance of such money then remaining
will be repaid to the Issuer.

       

      
        	
                Section
      9.5  

              	
                Indemnity for U.S.
      Government Obligations.

              

      

       

      The
Issuer shall pay and indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against the U.S. Government Obligations deposited
pursuant to Section 9.1 or the principal or interest received in respect of such
obligations.

       

      
        	
                Section
      9.6  

              	
                Excess
      Funds.

              

      

       

      The
Trustee shall deliver to the Issuer from time to time upon Issuer Order any U.S.
Government Obligations or money held by it as provided in Section 9.1 which, as
expressed in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the
Trustee (which may include the applicable opinion delivered to the Trustee
pursuant to Section 9.1), are then in excess of the amount thereof which then
would have been required to be deposited for the purpose for which such
obligations or money were deposited or received.

       

      ARTICLE
TEN

       

      MISCELLANEOUS
PROVISIONS

       

      
        	
                Section
      10.1  

              	
                Incorporators,
      Sponsors, Members, Partners, Holders of Equity Interests, Officers and
      Directors of Issuer Exempt from Individual
    Liability.

              

      

       

      No
recourse under or upon any obligation, covenant or agreement contained in this
Indenture, or in any Note, or because of any indebtedness evidenced thereby,
shall be had against any future director, officer, employee, incorporator or
sponsor, member, partner or holder of equity interest of the Issuer, as such, or
of any successor, either directly or through the Issuer or any successor, under
any rule of law, statute or constitutional provision or by the enforcement of
any assessment or by any legal or equitable proceeding or otherwise, all such
liability being expressly waived and released by the acceptance of the Notes by
the Holders thereof and as part of the consideration for the issue of the
Notes.

       

      
        	
                Section
      10.2  

              	
                Provisions of
      Indenture for the Sole Benefit of Parties and Holders of
      Notes.

              

      

       

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

       

      
        	
                Section
      10.3  

              	
                Successors and Assigns
      of Issuer Bound by
Indenture.

              

      

       

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

       

      
        	
                Section
      10.4  

              	
                Notices and Demands on
      Issuer, Trustee and Holders of Notes 

              

      

       

      Any
notice or communication by the Issuer or the Trustee to the other is duly given
if in writing and delivered in person or mailed by first class mail (registered
or certified, return receipt requested), facsimile transmission or overnight air
courier guaranteeing next-day delivery, to the other’s address:

       

      If to the
Issuer:

      

      Texas Gas
Transmission, LLC

      9 Greenway Plaza

      Houston, TX 77046

      Attn:
General Counsel

      Facsimile
No.: (866) 459-7336

      

      If to the
Trustee:

      

      The Bank
of New York Trust Company, N.A.

      2 North
LaSalle St., Suite 1020

      Chicago,
IL  60602

      Attn:
Corporate Trust Administration

      Facsimile
No.: (312) 827-8542

      

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

       

      All
notices and communications (other than those sent to the Trustee or Holder)
shall be deemed to have been duly given: at the time delivered by hand, if
personally delivered; five Business Days after being deposited in the mail,
postage prepaid, if mailed; when receipt acknowledged, if sent by facsimile
transmission; and the next Business Day after timely delivery to the courier, if
sent by overnight air courier guaranteeing next-day delivery. All notices and
communications to the Trustee or Holder shall be deemed duly given and effective
only upon receipt.

       

      Any
notice or communication to a Holder shall be mailed by first class mail,
certified or registered, return receipt requested, or by overnight air courier
guaranteeing next-day delivery to its address shown on the Security Register.
Any notice or communication shall also be so mailed to any Person described in
Trust Indenture Act of 1939 § 313(c), to the extent required by the Trust
Indenture Act of 1939. Failure to mail a notice or communication to a Holder or
any defect in it shall not affect its sufficiency with respect to other
Holders.

       

      If a
notice or communication is mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives
it.

       

      If the
Issuer mails a notice or communication to Holders, it shall mail a copy to the
Trustee and each Agent at the same time.

       

      
        	
                Section
      10.5  

              	
                Officers’ Certificates
      and Opinions of Counsel; Statements to Be Contained
      Therein

              

      

       

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

       

      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 shall include (a) a statement that the person making such
certificate or opinion has read such covenant or condition, (b) a brief
statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such certificate or opinion are
based, (c) a statement that, in the opinion of such person, he has made such
examination or investigation as is necessary to enable him to express an opinion
as to whether or not such covenant or condition has been complied with and (d) a
statement as to whether or not, in the opinion of such person, such condition or
covenant has been complied with.

       

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

       

      Any
certificate, statement or opinion of an officer of the Issuer or of counsel may
be based, insofar as it relates to accounting matters, upon a certificate or
opinion of or representations by an accountant or firm of accountants in the
employ of the Issuer, unless such officer or counsel, as the case may be, knows
that the certificate or opinion or representations with respect to the
accounting matters upon which his certificate, statement or opinion may be based
as aforesaid are erroneous, or in the exercise of reasonable care should know
that the same are erroneous.

       

      Any
certificate or opinion of any independent firm of public accountants filed with
and directed to the Trustee shall contain a statement that such firm is
independent.

       

      
        	
                Section
      10.6  

              	
                Payments Due on
      Saturdays, Sundays and
Holidays.

              

      

       

      If the
date of maturity of interest on or principal of the Notes or the date fixed for
redemption or repayment of any such Note shall not be a Business Day, then
payment of interest or principal need not be made on such date, but may be made
on the next succeeding Business Day with the same force and effect as if made on
the date of maturity or the date fixed for redemption or repayment, and no
interest shall accrue for the period after such date.

       

      
        	
                Section
      10.7  

              	
                Conflict of Any
      Provision of Indenture with Trust Indenture Act of
    1939

              

      

       

      If and to
the extent that any provision of this Indenture limits, qualifies or conflicts
with another provision included in this Indenture by operation of §§ 310 to 317,
inclusive, of the Trust Indenture Act of 1939 (an “incorporated provision”),
such incorporated provision shall control.

       

      
        	
                Section
      10.8  

              	
                New York Law to
      Govern.

              

      

       

      This
Indenture and each Note shall be governed by the laws of the State of New York,
and shall be construed in accordance with the laws of such State.

       

      
        	
                Section
      10.9  

              	
                Counterparts.

              

      

       

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

       

      
        	
                Section
      10.10  

              	
                Effect of
      Headings.

              

      

       

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

       

      
        	
                Section
      10.11  

              	
                Waiver of Jury
      Trial. 

              

      

       

      EACH OF
THE ISSUER AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE
TRANSACTION CONTEMPLATED HEREBY. 

       

      
        	
                Section
      10.12  

              	
                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.

       

      ARTICLE
ELEVEN

       

      REDEMPTION
AND PREPAYMENT

       

      
        	
                Section
      11.1  

              	
                Notices to
      Trustee.

              

      

       

      If the
Issuer elects to redeem Notes pursuant to the optional redemption provisions of
Section 11.7 hereof, it shall furnish to the Trustee, at least 45 days but not
more than 60 days before a redemption date (or such shorter period as allowed by
the Trustee), an Officers’ Certificate setting forth (i) the applicable section
of this Indenture pursuant to which the redemption shall occur, (ii) the
redemption date, (iii) the principal amount of Notes to be redeemed and (iv) the
redemption price.

       

      
        	
                Section
      11.2  

              	
                Selection of Notes to
      Be Redeemed.

              

      

       

      If less
than all of the Notes are to be redeemed at any time, the Trustee shall select
the Notes to be redeemed among the Holders of the Notes in compliance with the
requirements of the principal national securities exchange, if any, on which the
Notes are listed or, if the Notes are not so listed, on a pro rata basis, by lot
or in accordance with any other method the Trustee deems fair and appropriate
(and in compliance with applicable legal requirements). However, no Notes of a
principal amount of $1,000 or less shall be redeemed in part, and, if a partial
redemption of Notes is made with the proceeds of a public offering of common
equity securities of the Issuer, selection of the Notes or portions of the Notes
for redemption shall be made by the Trustee only on a proportional basis or on
as nearly a proportional basis as is practicable (except as required by the
procedures of DTC), unless that method is otherwise prohibited. In the event of
partial redemption by lot, the particular Notes to be redeemed shall be
selected, unless otherwise provided herein, not less than 30 nor more than 60
days prior to the redemption date by the Trustee from the Outstanding Notes not
previously called for redemption.

       

      The
Trustee shall promptly notify the Issuer in writing of the Notes selected for
redemption and, in the case of any Note selected for partial redemption, the
principal amount thereof to be redeemed. Notes and portions of Notes selected
shall be in amounts of $2,000 or integral multiples of $1,000, except that if
all of the Notes of a Holder are to be redeemed, the entire Outstanding amount
of Notes held by such Holder, even if not an integral multiple of $1,000, shall
be redeemed. Except as provided in the preceding sentence, provisions of this
Indenture that apply to Notes called for redemption also apply to portions of
Notes called for redemption.

       

      
        	
                Section
      11.3  

              	
                Notice of
      Redemption.

              

      

       

      At least
30 days but not more than 60 days prior to a redemption date, the Issuer shall
mail or cause to be mailed, by first class mail, a notice of redemption to each
Holder whose Notes are to be redeemed at such Holder’s address appearing in the
securities register maintained in respect of the Notes by the Registrar (the
“Security Register”).

       

      The
notice shall identify the Notes to be redeemed (including the CUSIP number) and
shall state:

       

      (a) the
redemption date;

       

      (b) The
appropriate calculation of the redemption price, but need not include the
redemption price itself. The actual redemption price, calculated as described
above, shall be set forth in an Officers’ Certificate delivered to the Trustee
no later than two (2) Business Days prior to the redemption date unless clause
(b) of the definition of “Comparable Treasury Price” is applicable, in which
case such Officer’s Certificate should be delivered on the redemption
date;

       

      (c) if any
Note is being redeemed in part, the portion of the principal amount of such Note
to be redeemed and that, after the redemption date upon surrender of such Note,
if applicable, a new Note or Notes in principal amount equal to the unredeemed
portion shall be issued upon cancellation of the original Note;

       

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

       

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

       

      (f) that,
unless the Issuer defaults in making such redemption payment, interest on Notes
called for redemption ceases to accrue on and after the redemption
date;

       

      (g) the
applicable section of this Indenture pursuant to which the Notes called for
redemption are being redeemed; and

       

      (h) the CUSIP
and/or ISIN numbers, if applicable.

       

      At the
Issuer’s request, the Trustee shall give the notice of redemption in the
Issuer’s name and at its expense; provided, however, that the Issuer shall have
delivered to the Trustee, at least 15 days (or such shorter period allowed by
the Trustee) prior to the date of the giving of such notice of redemption, an
Officers’ Certificate requesting that the Trustee give such notice (in the name
and at the expense of the Issuer) and setting forth the information to be stated
in such notice as provided in this Section 11.3.

       

      
        	
                Section
      11.4  

              	
                Effect of Notice of
      Redemption.

              

      

       

      Once
notice of redemption is mailed in accordance with Section 11.3 hereof, Notes
called for redemption shall become irrevocably due and payable on the redemption
date at the redemption price. A notice of redemption may not be
conditional.

       

      
        	
                Section
      11.5  

              	
                Deposit of Redemption
      Price.

              

      

       

      On or
prior to 11:00 a.m. New York City time on the Business Day prior to any
redemption date, the Issuer shall deposit with the Trustee or with the Paying
Agent money sufficient to pay the redemption price of and, if applicable,
accrued and unpaid interest on all Notes to be redeemed on that date. The
Trustee or the Paying Agent shall promptly, and in any event within two (2)
Business Days after the redemption date, return to the Issuer any money
deposited with the Trustee or the Paying Agent by the Issuer in excess of the
amounts necessary to pay the redemption price of, and, accrued and unpaid
interest, if any, on all Notes to be redeemed.

       

      If the
Issuer complies with the provisions of the preceding paragraph, on and after the
redemption date, interest shall cease to accrue on Notes or portions of Notes
called for purchase or redemption in accordance with Section 2.8(d) hereof,
whether or not such Notes are presented for payment. If a Note is redeemed on or
after a Regular Record Date but on or prior to the related Interest Payment
Date, then any accrued and unpaid interest, if any, shall be paid to the Person
in whose name such Note was registered at the close of business on such Regular
Record Date. If any Note called for redemption shall not be so paid upon
surrender for redemption because of the failure of the Issuer to comply with the
preceding paragraph, interest shall be paid on the unpaid principal from the
redemption date until such principal is paid, and to the extent lawful on any
interest not paid on such unpaid principal, in each case at the rate provided in
the Notes and in Section 4.01 hereof.

       

      
        	
                Section
      11.6  

              	
                Notes Redeemed in
      Part.

              

      

       

      Upon
surrender of a Note that is redeemed in part, the Issuer shall issue and, upon
the Issuer’s written request, the Trustee shall authenticate for the Holder at
the expense of the Issuer a new Note equal in principal amount to the unredeemed
portion of the Note surrendered.

       

      
        	
                Section
      11.7  

              	
                Optional
      Redemption.

              

      

       

      (a) The Notes
will be redeemable as a whole or in part, at the option of the Issuer at any
time at a redemption price determined by the Issuer equal to the greater of (i)
100% of the principal amount of such Notes and (ii) the sum of the present
values of the remaining scheduled payments of principal and interest thereon
discounted to the redemption date on a semiannual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Treasury Rate, plus 50 basis points,
plus in each case accrued interest thereon to the date of
redemption.

       

      (b) Any
prepayment pursuant to this Section 11.7 shall be made pursuant to the
provisions of Sections 11.1 through 11.6 hereof.

       

      
        	
                Section
      11.8  

              	
                No Mandatory
      Redemption.

              

      

       

      The
Issuer shall not be required to make mandatory redemption or sinking fund
payments with respect to, or offers to purchase, the Notes.

       

      [Signatures on following
page]

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      SIGNATURES

      

      Dated as
of March 27, 2008.

       

      Issuer:

      

      TEXAS GAS
TRANSMISSION, LLC

      

      

      By:                           /s/                                                                

      Name:  Jamie L.
Buskill

      
        	
                 
      

              	
                Title:  Senior
      Vice President, Chief Financial Officer and
  Treasurer

              

      

      

      Trustee:

      

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

      as
Trustee

      

      By:                              /s/                                                                

      Name:  L. Garcia

      Title:    Vice
President

      

      

      
        
           

        

        
           

          
            

          

        

        
           

          
            EXHIBIT
A-1

          

        

      

      (Face
of Note)

       

      

       

      5.50%
NOTES DUE 2013

       

      

       

      CUSIP  ____________

       

      No.
_____ $ ____________

       

      

       

      TEXAS
GAS TRANSMISSION, LLC

       

      promises
to pay to ____________________, or its registered assigns, the principal sum of
U.S. Dollars ($_____________) on April 1, 2013.

       

      Interest
Payment Dates:  April 1 and October 1, commencing October 1,
2008

       

      Record
Dates:  March 15 and September 15.

       

      IN
WITNESS WHEREOF, the Issuer has caused this Note to be signed by its duly
authorized officer.

       

      

      TEXAS GAS
TRANSMISSION, LLC

      

      

      

      By:           

      Name:

      Title:

      

      This is
one of the [Global]

      Notes
referred to in the

      within-mentioned
Indenture:

      

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

      as
Trustee

      

      

      By:                                                      

      Authorized Signatory

      

      Dated:                                           ,
20__

      

       

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (Back
of Note)

       

      

       

      5.50%
NOTES DUE 2013

       

      [THE
NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), OR OTHER SECURITIES
LAWS.  NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS THE TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.
THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT
IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING ITS NOTE IN AN
“OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE SECURITIES
ACT, (2) AGREES THAT IT WILL NOT PRIOR TO (X) THE DATE WHICH IS ONE YEAR (OR
SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144(d) UNDER THE SECURITIES ACT
OR ANY SUCCESSOR PROVISION THEREUNDER) AFTER THE LATER OF THE ORIGINAL ISSUE
DATE HEREOF (OR OF ANY PREDECESSOR OF THIS NOTE) OR THE LAST DAY ON WHICH THE
ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS NOTE (OR ANY
PREDECESSOR OF THIS NOTE) AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY
APPLICABLE LAW (THE “RESALE RESTRICTION TERMINATION DATE”), OFFER, SELL OR
OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO THE ISSUER, (B) PURSUANT TO A
REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES
ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A,
TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS
DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT
OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN
THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A INSIDE THE UNITED
STATES, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE
THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR
(E) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM
THIS NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND;
PROVIDED THAT THE ISSUER, THE TRUSTEE AND THE REGISTRAR SHALL HAVE THE RIGHT
PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (I) PURSUANT TO CLAUSE (D) OR (E) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER
INFORMATION SATISFACTORY TO EACH OF THEM, AND (II) IN EACH OF THE FOREGOING
CASES, TO REQUIRE THAT A CERTIFICATION OF TRANSFER IN THE FORM APPEARING ON THE
OTHER SIDE OF THIS NOTE IS COMPLETED AND DELIVERED BY THIS TRANSFEROR TO THE
TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE
RESALE RESTRICTION TERMINATION DATE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY REGULATION S UNDER THE SECURITIES ACT.]

       

      [THIS
GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS
HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT
THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT
TO SECTION 2.6 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE
BUT NOT IN PART PURSUANT TO SECTION 2.6(a) OF THE INDENTURE, (III)THIS GLOBAL
NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11
OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER.

       

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

       

      Capitalized
terms used herein shall have the meanings assigned to them in the Indenture
referred to below unless otherwise indicated.

       

      1.           Interest. Texas Gas
Transmission, LLC, a Delaware limited liability company (the “Issuer”), promises
to pay interest on the principal amount of this Note at 5.50% per annum until
maturity. The Issuer shall pay interest semi-annually in arrears in cash on
April 1 and October 1 of each year, or if any such day is not a Business Day, on
the next succeeding Business Day (each an “Interest Payment Date”). Interest on
the Notes shall accrue from the most recent date to which interest has been paid
or, if no interest has been paid, from March 27,  2008; provided,
however, that if this Note is authenticated between a record date referred to on
the face hereof and the next succeeding Interest Payment Date, interest shall
accrue from such next succeeding Interest Payment Date; provided, further, that
the first Interest Payment Date shall be October 1, 2008. The Issuer shall pay
interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and premium, if any, from time to time at
the interest rate then in effect under the Indenture and this Note; it shall pay
interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue installments of interest, from time to time at the
same rate to the extent lawful. Interest shall be computed on the basis of a
360-day year of twelve 30-day months.

       

      2.           Method of Payment. The Issuer
shall pay interest on the Notes (except defaulted interest) to the Persons in
whose name this Note (or one or more Predecessor Notes) is registered at the
close of business on March 15 or September 15 preceding the Interest Payment
Date, even if such Notes are cancelled after such record date and on or before
such Interest Payment Date, except as provided in Section 2.12 of the Indenture
with respect to defaulted interest. The Notes shall be payable as to principal,
premium, if any, and interest at the office or agency of the Issuer maintained
for such purpose, or, at the option of the Issuer, payment of interest may be
made by check mailed to the Holders at their addresses set forth in the Security
Register; provided, however, that payment by wire transfer of immediately
available funds shall be required with respect to principal of and interest and
premium, if any, on, all Global Notes and all other Notes the Holders of which
shall have provided wire transfer instructions to the Issuer or the Paying
Agent. Such payment shall be in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and
private debts.

       

      3.           Paying Agent and Registrar.
Initially, The Bank of New York Trust Company, N.A., the Trustee under the
Indenture, shall act as Paying Agent and Registrar. The Issuer may change any
Paying Agent or Registrar without notice to any Holder. The Issuer or any of its
Subsidiaries may act in any such capacity.

       

      4.           Indenture. The Issuer issued
the Notes under an Indenture, dated as of March 27, 2008 (“Indenture”), among
the Issuer and the Trustee. The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939, as amended (15 U.S. Code §§
77aaa-77bbbb). The Notes
are subject to all such terms, and Holders are referred to the Indenture and
such Act for a statement of such terms. To the extent any provision of this Note
conflicts with the express provisions of the Indenture, the provisions of the
Indenture shall govern and be controlling.

       

      5.           Optional
Redemption.

       

      (a)           The
Notes will be redeemable as a whole or in part, at the option of the Issuer at
any time at a redemption price equal to the greater of (i) 100% of the principal
amount of such Notes and (ii) the sum of the present values of the remaining
scheduled payments of principal and interest thereon discounted to the
redemption date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Treasury Rate, as defined in the Indenture below,
plus 50 basis points, plus in each case accrued interest thereon to the date of
redemption.

       

      For
purposes of this Note the following terms shall have the meaning
specified.

       

      “Comparable Treasury Issue”
means the United States Treasury security selected by an Independent Investment
Banker as having a maturity comparable to the remaining term of the Notes to be
redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities
of comparable maturity to the remaining term of such Notes.

       

      “Comparable Treasury Price”
means, with respect to any redemption date, (i) the average of the bid and asked
prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) on the third business day preceding such redemption
date, as set forth in the daily statistical release (or any successor release)
published by the Federal Reserve Bank of New York and designated “Composite 3:30
p.m. Quotations for U.S. Government Securities” or (ii) if such release (or any
successor release) is not published or does not contain such prices on such
business day, (A) the average of the Reference Treasury Dealer Quotations for
such redemption date, after excluding the highest and lowest such Reference
Treasury Dealer Quotations, or (B) if the Issuer obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such
Quotations.

       

      “Independent Investment
Banker” means one of the Reference Treasury Dealers appointed by the
Issuer.

       

      “Reference Treasury Dealer”
means each of Credit Suisse Securities (USA) LLC, J.P. Morgan Securities Inc.
and Wachovia Capital Markets, LLC; if any of the Reference Treasury Dealers
resigns, the successor dealer shall be a primary U.S. Government securities
dealer in New York City selected by the Issuer.

       

      “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any
redemption date, the average, as determined by the Issuer, of the bid and ask
prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) quoted in writing to the Issuer by such Reference
Treasury Dealer at 5:00 p.m. on the third business day preceding such redemption
date.

       

      “Yield to Maturity” means the
yield to maturity on the Notes, calculated at the time of issuance of the Notes,
and calculated in accordance with accepted financial practice.

       

      (b)           Any
prepayment pursuant to this paragraph shall be made pursuant to the provisions
of Sections 11.1 through 11.6 of the Indenture.

       

      6.           Mandatory Redemption. The
Issuer shall not be required to make mandatory redemption or sinking fund
payments with respect to the Notes.

       

      7.           Notice of Redemption. Notices
of redemption shall be mailed at least 30 days but not more than 60 days before
the redemption date to each Holder whose Notes are to be redeemed at its
registered address. Notes in denominations larger than $2,000 may be redeemed in
part but only in integral multiples of $1,000, unless all of the Notes held by a
Holder are to be redeemed. On and after the redemption date interest shall cease
to accrue on Notes or portions thereof called for redemption.

       

      8.           Denominations, Transfer,
Exchange. The Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess
thereof.  This Note shall represent the aggregate principal amount of
Outstanding Notes from time to time endorsed hereon and the aggregate principal
amount of Notes represented hereby may from time to time be reduced or
increased, as appropriate, to reflect exchanges and redemptions. The transfer of
Notes may be registered and Notes may be exchanged as provided in the Indenture.
The Registrar and the Trustee may require a Holder, among other things, to
furnish appropriate endorsements and transfer documents and the Issuer may
require a Holder to pay any taxes and fees required by law or permitted by the
Indenture. The Issuer need not exchange or register the transfer of any Note or
portion of a Note selected for redemption, except for the unredeemed portion of
any Note being redeemed in part. Also, the Issuer need not exchange or register
the transfer of any Notes for a period of 15 days before a selection of Notes to
be redeemed or during the period between a record date and the corresponding
Interest Payment Date.

       

      9.           Persons Deemed Owners. The
registered Holder of a Note may be treated as its owner for all
purposes.

       

      10.           Amendment, Supplement and
Waiver. Subject to certain exceptions, the Issuer and the Trustee may
amend or supplement the Indenture or the Notes with the consent of the Holders
of at least a majority in principal amount of the Notes, including Additional
Notes, if any then Outstanding, voting as a single class (including consents
obtained in connection with a purchase of or tender offer or exchange offer for
the Notes), and, subject to Section 4.10 of the Indenture, any existing Default
or Event of Default (except a continuing Default or Event of Default (i) in the
payment of principal, premium, if any, interest, if any, on the Notes and (ii)
in respect of a covenant or provision which under the Indenture cannot be
modified or amended without the consent of the Holder of each Note affected by
such modification or amendment) or compliance with any provision of the
Indenture or the Notes may be waived with the consent of the Holders of at least
a majority in principal amount of the Notes, including Additional Notes, if any,
then Outstanding voting as a single class (including consents obtained in
connection with a purchase of or tender offer or exchange offer for the Notes).
Without the consent of any Holder, the Issuer and the Trustee may amend or
supplement the Indenture or the Notes: (a) to convey, transfer, assign, mortgage
or pledge to the Trustee as security for the Notes any property or assets; (b)
to evidence the succession of another Person to the Issuer, or successive
successions, and the assumption by the successor Person of the covenants,
agreements and obligations of the Issuer pursuant to Article Eight of the
Indenture; (c) to add to the covenants of the Issuer such further covenants,
restrictions, conditions or provisions as the Issuer and the Trustee shall
consider to be for the protection of the Holders of Notes, and to make the
occurrence, or the occurrence and continuance, of a default in any such
additional covenants, restrictions, conditions or provisions an Event of Default
permitting the enforcement of all or any of the several remedies provided in
this Indenture as herein set forth; provided, that in respect of any such
additional covenant, restriction, condition or provision such supplemental
indenture may provide for a particular period of grace after default (which
period may be shorter or longer than that allowed in the case of other defaults)
or may provide for an immediate enforcement upon such an Event of Default or may
limit the remedies available to the Trustee upon such an Event of Default or may
limit the right of the Holders of a majority in aggregate principal amount of
the Notes of such series to waive such an Event of Default; (d) to cure any
ambiguity or to correct or supplement any provision contained herein or in any
supplemental indenture which may be defective or inconsistent with any other
provision contained herein or in any supplemental indenture, or to make any
other provisions as the Issuer may deem necessary or desirable, provided that no
such action shall materially adversely affect the interests of the Holders of
the Notes; (e) to establish the form or terms of the Notes or Additional Notes
appertaining to such Notes or Additional Notes; and (f) to evidence and provide
for the acceptance of appointment hereunder by a successor trustee with respect
to the Notes of one or more series and to add to or change any of the provisions
of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one trustee, pursuant to the
requirements of Section 5.10 of the Indenture.

       

      11.           Defaults and Remedies. Each
of the following constitutes an Event of Default with respect to the Notes:
default in the payment of any installment of interest upon any of the Notes as
and when the same shall become due and payable, and continuance of such default
for a period of 30 days; or default in the payment of all or any part of the
principal on any of the Notes as and when the same shall become due and payable
either at maturity, upon any redemption, by declaration or otherwise; or default
in the performance, or breach, of any covenant or warranty of the Issuer in
respect of the Notes and continuance of such default or breach for a period of
60 days (or 180 days in the case of a Reporting Failure) after there has been
given, by registered or certified mail, to the Issuer by the Trustee or to the
Issuer and the Trustee by the Holders of at least 25% in aggregate principal
amount of the Outstanding Notes, a written notice specifying such default or
breach and requiring it to be remedied and stating that such notice is a “Notice
of Default” hereunder; or either (1) default in payment of any Indebtedness of
the Issuer or any Subsidiary of the Issuer within any applicable grace period
after final maturity or (2) the acceleration of Indebtedness of the Issuer or
any Subsidiary of the Issuer by the holders thereof because of a default and, in
either case, the total amount of the Indebtedness unpaid or accelerated exceeds
$25.0 million; or the entry of a decree or order by a court having jurisdiction
in the premises adjudging the Issuer or any Significant Subsidiary as bankrupt
or insolvent, or approving as properly filed a petition seeking reorganization
arrangement, adjustment or composition of or in respect of the Issuer or any
Significant Subsidiary under the federal bankruptcy law or any other applicable
federal or state law, or appointing a receiver, liquidator, assignee, trustee,
sequestrator (or other similar official) of the Issuer or any Significant
Subsidiary or for any substantial part of its property, or ordering the winding
up or liquidation of its affairs, and the continuance of any such decree or
order unstayed and in effect for a period of 60 consecutive days; or the
institution by the Issuer or any Significant Subsidiary of proceedings to be
adjudicated as bankrupt or insolvent or the consent by the Issuer or any
Significant Subsidiary to the institution of bankruptcy or insolvency
proceedings against it, or the filing by the Issuer or any Significant
Subsidiary of a petition or answer or consent seeking reorganization or relief
under the federal bankruptcy law or any other applicable federal or state law,
or the consent by the Issuer or any Significant Subsidiary to the filing of any
such petition or to the appointment of a receiver, liquidator, assignee,
trustee, sequestrator (or other similar official) of the Issuer or any
Significant Subsidiary or for any substantial part of its property, or the
making by the Issuer or any Significant Subsidiary of any general assignment for
the benefit of creditors; provided, however, that the occurrence of any of the
events described in clause (c) of Section 4.1 of the Indenture shall not
constitute an Event of Default if such occurrence is the result of changes in
generally accepted accounting principles as recognized by the American Institute
of Certified Public Accountants at the date as of which this Indenture is
executed and a certificate to such effect is delivered to the Trustee by the
Issuer’s independent public accountants

       

      If an
Event of Default described in clauses (a), (b), (c) or (d) of Section 4.1 of the
Indenture occurs and is continuing, then, and in each and every such case,
either the Trustee or the Holders of not less than 25% in aggregate principal
amount of the Notes then Outstanding under the Indenture by notice in writing to
the Issuer (and to the Trustee if given by Noteholders), may declare the entire
principal of all Notes, and the interest accrued thereon, if any, to be due and
payable immediately, and upon any such declaration, the same shall become
immediately due and payable. If an Event of Default described in clause (e) or
(f) of Section 4.1 of the Indenture occurs and is continuing, then and in each
and every such case, unless the principal of all the Notes shall have already
become due and payable, the entire principal of all of the Notes then
Outstanding, and interest accrued thereon, if any, will become immediately due
and payable without any declaration of acceleration or other act on the part of
the Trustee or any Holders.

       

      The
foregoing provisions, however, are subject to the condition that if, at any time
after the principal of the Notes shall have been so declared due and payable or
become automatically due and payable, and before any judgment or decree for the
payment of the moneys due shall have been obtained or entered as hereinafter
provided, the Issuer shall pay or shall deposit with the Trustee a sum
sufficient to pay all matured installments of interest upon all the Notes and
the principal of any and all Notes which shall have become due otherwise than by
acceleration (with interest upon such principal and, to the extent that payment
of such interest is enforceable under applicable law, on overdue installments of
interest, at the same rate as the rate of interest specified in the Notes to the
date of such payment or deposit) and such amount as shall be sufficient to cover
reasonable compensation to the Trustee and each predecessor Trustee and their
agents, attorneys and counsel, and all other expenses and liabilities incurred,
and all advances made, by the Trustee and each predecessor Trustee except as a
result of negligence or bad faith, and if any and all Events of Default under
the Indenture, other than the non-payment of the principal of Notes which shall
have become due by acceleration, shall have been cured, waived or otherwise
remedied as provided herein, then and in every such case the Holders of a
majority in aggregate principal amount of all the Notes then Outstanding, by
written notice to the Issuer and to the Trustee, may waive all defaults with
respect to each such series (or with respect to all the Notes, as the case may
be) and rescind and annul such declaration and its consequences, but no such
waiver or rescission and annulment shall extend to or shall affect any
subsequent default or shall impair any right consequent thereon.

       

      12.           Trustee Dealings with Issuer.
Subject to certain limitations, the Trustee in its individual or any other
capacity may become the owner or pledgee of Notes and may otherwise deal with
the Issuer or any Affiliate of the Issuer with the same rights it would have if
it were not Trustee.

       

      13.           No Recourse Against Others.
No past, present or future director, officer, employee, incorporator or sponsor,
member, partner or holder of equity interest of the Issuer, as such, shall have
any liability for any obligations of the Issuer under the Indenture, the Notes
or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder by accepting a Note waives and releases all such
liability.

       

      14.           Authentication. This Note
shall not be valid until authenticated by the manual signature of the Trustee or
an authenticating agent.

       

      15.           Abbreviations. Customary
abbreviations may be used in the name of a Holder or an assignee, such as: TEN
COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUST (=
Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

       

      16.           CUSIP Numbers. Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes and
has directed the Trustee to use CUSIP numbers in notices of redemption or
notices of Offers to Purchase as a convenience to Holders. No representation is
made as to the correctness of such numbers either as printed on the Notes or as
contained in any notice of redemption or notice of an offer to purchase and
reliance may be placed only on the other identification numbers printed thereon
and any such redemption or offer to purchase shall not be affected by any defect
in or omission of such numbers.

       

      The
Issuer shall furnish to any Holder upon written request and without charge a
copy of the Indenture. Requests may be made to: Texas Gas Transmission, LLC, 9
Greenway Plaza, Suite 2800, Houston, TX 77046, Attn: General Counsel, Facsimile
No.: (866) 459-7336.

       

      17.           Governing Law. The law of the
State of New York shall govern and be used to construe this Note.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      SCHEDULE
OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

       

      The
following exchanges of a part of this Global Note for an interest in another
Global Note or for a Definitive Note, or exchanges of a part of another Global
Note or Definitive Note for an interest in this Global Note, have been
made:

       

      

       

      
        	
                Date of Exchange

              	
                Amount
      of decrease in Principal Amount of this
      Global Note

              	
                Amount
      of increase in Principal Amount of this Global Note

              	
                Principal
      Amount of this Global Note following such decrease (or increase)

              	
                Signature
      of authorized signatory of Trustee or Note Custodian

              
	 
      	 
      	 
      	 
      	 
      

      

      

       

      
        
           

        

        
           

          
            

          

        

        
           

          
            EXHIBIT
A-2

          

        

      

      (Face
of Regulation S Temporary Global Note)

       

      

       

      5.50%
NOTES DUE 2013

       

      

       

      CUSIP  ____________

       

      No.
_____ $ ____________

       

      

       

      TEXAS
GAS TRANSMISSION, LLC

       

      promises
to pay to ____________________, or its registered assigns, the principal sum of
U.S. Dollars ($_____________) on  April 1, 2013.

       

      Interest
Payment Dates:  April 1 and October 1, commencing October 1,
2008

       

      Record
Dates:  March 15 and September 15.

       

      IN
WITNESS WHEREOF, the Issuer has caused this Note to be signed by its duly
authorized officer.

       

      

      TEXAS GAS
TRANSMISSION, LLC

      

      

      

      By:           

      Name:

      Title:

      

      This is
one of the [Global]

      Notes
referred to in the

      within-mentioned
Indenture:

      

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

      as
Trustee

      

      

      By:                                                      

      Authorized Signatory

      

      Dated:                                           ,
20__

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (Back
of Regulation S Temporary Global Note)

       

      

       

      5.50%
NOTES DUE 2013

       

      THE RIGHTS ATTACHING TO THIS REGULATION
S TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS
EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED
HEREIN).  NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS
REGULATION S TEMPORARY GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF
INTEREST HEREON.

       

      [THE
NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), OR OTHER SECURITIES
LAWS.  NEITHER THIS NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION UNLESS THE TRANSACTION IS EXEMPT
FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.
THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT
IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON AND IS ACQUIRING ITS NOTE IN AN
“OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE SECURITIES
ACT, (2) AGREES THAT IT WILL NOT PRIOR TO (X) THE DATE WHICH IS ONE YEAR (OR
SUCH SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144(d) UNDER THE SECURITIES ACT
OR ANY SUCCESSOR PROVISION THEREUNDER) AFTER THE LATER OF THE ORIGINAL ISSUE
DATE HEREOF (OR OF ANY PREDECESSOR OF THIS NOTE) OR THE LAST DAY ON WHICH THE
ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS NOTE (OR ANY
PREDECESSOR OF THIS NOTE) AND (Y) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY
APPLICABLE LAW (THE “RESALE RESTRICTION TERMINATION DATE”), OFFER, SELL OR
OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO THE ISSUER, (B) PURSUANT TO A
REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES
ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A,
TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS
DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT
OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN
THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A INSIDE THE UNITED
STATES, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE
THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR
(E) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM
THIS NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND;
PROVIDED THAT THE ISSUER, THE TRUSTEE AND THE REGISTRAR SHALL HAVE THE RIGHT
PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (I) PURSUANT TO CLAUSE (D) OR (E) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER
INFORMATION SATISFACTORY TO EACH OF THEM, AND (II) IN EACH OF THE FOREGOING
CASES, TO REQUIRE THAT A CERTIFICATION OF TRANSFER IN THE FORM APPEARING ON THE
OTHER SIDE OF THIS NOTE IS COMPLETED AND DELIVERED BY THIS TRANSFEROR TO THE
TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE
RESALE RESTRICTION TERMINATION DATE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY REGULATION S UNDER THE SECURITIES ACT.]

       

      [THIS
GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS
HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT
THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT
TO SECTION 2.6 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE
BUT NOT IN PART PURSUANT TO SECTION 2.6(a) OF THE INDENTURE, (III)THIS GLOBAL
NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11
OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUER.

       

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

       

      Capitalized
terms used herein shall have the meanings assigned to them in the Indenture
referred to below unless otherwise indicated.

       

      1.           Interest.  Texas
Gas Transmission, LLC, a Delaware limited liability company (the “Issuer”),
promises to pay interest on the principal amount of this Note at 5.50% per annum
until maturity. The Issuer shall pay interest semi-annually in arrears in cash
on April 1 and October 1 of each year, or if any such day is not a Business Day,
on the next succeeding Business Day (each an “Interest Payment Date”). Interest
on the Notes shall accrue from the most recent date to which interest has been
paid or, if no interest has been paid, from March 27,  2008; provided,
however, that if this Note is authenticated between a record date referred to on
the face hereof and the next succeeding Interest Payment Date, interest shall
accrue from such next succeeding Interest Payment Date; provided, further, that
the first Interest Payment Date shall be October 1, 2008. The Issuer shall pay
interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and premium, if any, from time to time at
the interest rate then in effect under the Indenture and this Note; it shall pay
interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue installments of interest, from time to time at the
same rate to the extent lawful. Interest shall be computed on the basis of a
360-day year of twelve 30-day months.

       

      2.           Method of Payment. The Issuer
shall pay interest on the Notes (except defaulted interest) to the Persons in
whose name this Note (or one or more Predecessor Notes) is registered at the
close of business on March 15 or October 15 preceding the Interest Payment Date,
even if such Notes are cancelled after such record date and on or before such
Interest Payment Date, except as provided in Section 2.12 of the Indenture with
respect to defaulted interest. The Notes shall be payable as to principal,
premium, if any, and interest at the office or agency of the Issuer maintained
for such purpose, or, at the option of the Issuer, payment of interest may be
made by check mailed to the Holders at their addresses set forth in the Security
Register; provided, however, that payment by wire transfer of immediately
available funds shall be required with respect to principal of and interest and
premium, if any, on, all Global Notes and all other Notes the Holders of which
shall have provided wire transfer instructions to the Issuer or the Paying
Agent. Such payment shall be in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and
private debts.

       

      3.           Paying Agent and Registrar.
Initially, The Bank of New York Trust Company, N.A., the Trustee under the
Indenture, shall act as Paying Agent and Registrar. The Issuer may change any
Paying Agent or Registrar without notice to any Holder. The Issuer or any of its
Subsidiaries may act in any such capacity.

       

      4.           Indenture. The Issuer issued
the Notes under an Indenture, dated as of March 27, 2008 (“Indenture”), among
the Issuer and the Trustee. The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939, as amended (15 U.S.Code §§ 77aaa-77bbbb). The Notes are
subject to all such terms, and Holders are referred to the Indenture and such
Act for a statement of such terms. To the extent any provision of this Note
conflicts with the express provisions of the Indenture, the provisions of the
Indenture shall govern and be controlling.

       

      5.           Optional
Redemption.

       

      (a)           The
Notes will be redeemable as a whole or in part, at the option of the Issuer at
any time at a redemption price equal to the greater of (i) 100% of the principal
amount of such Notes and (ii) the sum of the present values of the remaining
scheduled payments of principal and interest thereon discounted to the
redemption date on a semiannual basis (assuming a 360-day year consisting of
twelve 30-day months) at the Treasury Rate, as defined in the Indenture below,
plus 50 basis points, plus in each case accrued interest thereon to the date of
redemption.

       

      For
purposes of this Note the following terms shall have the meaning
specified.

       

      “Comparable Treasury Issue”
means the United States Treasury security selected by an Independent Investment
Banker as having a maturity comparable to the remaining term of the Notes to be
redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities
of comparable maturity to the remaining term of such Notes.

       

      “Comparable Treasury Price”
means, with respect to any redemption date, (i) the average of the bid and asked
prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) on the third business day preceding such redemption
date, as set forth in the daily statistical release (or any successor release)
published by the Federal Reserve Bank of New York and designated “Composite 3:30
p.m. Quotations for U.S. Government Securities” or (ii) if such release (or any
successor release) is not published or does not contain such prices on such
business day, (A) the average of the Reference Treasury Dealer Quotations for
such redemption date, after excluding the highest and lowest such Reference
Treasury Dealer Quotations, or (B) if the Issuer obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such
Quotations.

       

      “Independent Investment
Banker” means one of the Reference Treasury Dealers appointed by the
Issuer.

       

      “Reference Treasury Dealer”
means each of Credit Suisse Securities (USA) LLC, J.P. Morgan Securities Inc.
and Wachovia Capital Markets, LLC; if any of the Reference Treasury Dealers
resigns, the successor dealer shall be a primary U.S. Government securities
dealer in New York City selected by the Issuer.

       

      “Reference Treasury Dealer
Quotations” means, with respect to each Reference Treasury Dealer and any
redemption date, the average, as determined by the Issuer, of the bid and ask
prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) quoted in writing to the Issuer by such Reference
Treasury Dealer at 5:00 p.m. on the third business day preceding such redemption
date.

       

      “Yield to Maturity” means the
yield to maturity on the Notes, calculated at the time of issuance of the Notes,
and calculated in accordance with accepted financial practice.

       

      (b)           Any
prepayment pursuant to this paragraph shall be made pursuant to the provisions
of Sections 11.1 through 11.6 of the Indenture.

       

      6.           Mandatory Redemption. The
Issuer shall not be required to make mandatory redemption or sinking fund
payments with respect to the Notes.

       

      7.           Notice of Redemption. Notices
of redemption shall be mailed at least 30 days but not more than 60 days before
the redemption date to each Holder whose Notes are to be redeemed at its
registered address. Notes in denominations larger than $2,000 may be redeemed in
part but only in integral multiples of $1,000, unless all of the Notes held by a
Holder are to be redeemed. On and after the redemption date interest shall cease
to accrue on Notes or portions thereof called for redemption.

       

      8.           Denominations, Transfer,
Exchange. The Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess
thereof.  This Note shall represent the aggregate principal amount of
Outstanding Notes from time to time endorsed hereon and the aggregate principal
amount of Notes represented hereby may from time to time be reduced or
increased, as appropriate, to reflect exchanges and redemptions. The transfer of
Notes may be registered and Notes may be exchanged as provided in the Indenture.
The Registrar and the Trustee may require a Holder, among other things, to
furnish appropriate endorsements and transfer documents and the Issuer may
require a Holder to pay any taxes and fees required by law or permitted by the
Indenture. The Issuer need not exchange or register the transfer of any Note or
portion of a Note selected for redemption, except for the unredeemed portion of
any Note being redeemed in part. Also, the Issuer need not exchange or register
the transfer of any Notes for a period of 15 days before a selection of Notes to
be redeemed or during the period between a record date and the corresponding
Interest Payment Date.

       

      9.           Persons Deemed Owners. The
registered Holder of a Note may be treated as its owner for all
purposes.

       

      10.           Amendment, Supplement and
Waiver. Subject to certain exceptions, the Issuer and the Trustee may
amend or supplement the Indenture or the Notes with the consent of the Holders
of at least a majority in principal amount of the Notes, including Additional
Notes, if any then Outstanding, voting as a single class (including consents
obtained in connection with a purchase of or tender offer or exchange offer for
the Notes), and, subject to Section 4.10 of the Indenture, any existing Default
or Event of Default (except a continuing Default or Event of Default (i) in the
payment of principal, premium, if any, interest, if any, on the Notes and (ii)
in respect of a covenant or provision which under the Indenture cannot be
modified or amended without the consent of the Holder of each Note affected by
such modification or amendment) or compliance with any provision of the
Indenture or the Notes may be waived with the consent of the Holders of at least
a majority in principal amount of the Notes, including Additional Notes, if any,
then Outstanding voting as a single class (including consents obtained in
connection with a purchase of or tender offer or exchange offer for the Notes).
Without the consent of any Holder, the Issuer and the Trustee may amend or
supplement the Indenture or the Notes: (a) to convey, transfer, assign, mortgage
or pledge to the Trustee as security for the Notes any property or assets; (b)
to evidence the succession of another Person to the Issuer, or successive
successions, and the assumption by the successor Person of the covenants,
agreements and obligations of the Issuer pursuant to Article Eight of the
Indenture; (c) to add to the covenants of the Issuer such further covenants,
restrictions, conditions or provisions as the Issuer and the Trustee shall
consider to be for the protection of the Holders of Notes, and to make the
occurrence, or the occurrence and continuance, of a default in any such
additional covenants, restrictions, conditions or provisions an Event of Default
permitting the enforcement of all or any of the several remedies provided in
this Indenture as herein set forth; provided, that in respect of any such
additional covenant, restriction, condition or provision such supplemental
indenture may provide for a particular period of grace after default (which
period may be shorter or longer than that allowed in the case of other defaults)
or may provide for an immediate enforcement upon such an Event of Default or may
limit the remedies available to the Trustee upon such an Event of Default or may
limit the right of the Holders of a majority in aggregate principal amount of
the Notes of such series to waive such an Event of Default; (d) to cure any
ambiguity or to correct or supplement any provision contained herein or in any
supplemental indenture which may be defective or inconsistent with any other
provision contained herein or in any supplemental indenture, or to make any
other provisions as the Issuer may deem necessary or desirable, provided that no
such action shall materially adversely affect the interests of the Holders of
the Notes; (e) to establish the form or terms of the Notes or Additional Notes
appertaining to such Notes or Additional Notes; and (f) to evidence and provide
for the acceptance of appointment hereunder by a successor trustee with respect
to the Notes of one or more series and to add to or change any of the provisions
of this Indenture as shall be necessary to provide for or facilitate the
administration of the trusts hereunder by more than one trustee, pursuant to the
requirements of Section 5.10 of the Indenture.

       

      11.           Defaults and Remedies. Each
of the following constitutes an Event of Default with respect to the Notes:
default in the payment of any installment of interest upon any of the Notes as
and when the same shall become due and payable, and continuance of such default
for a period of 30 days; or default in the payment of all or any part of the
principal on any of the Notes as and when the same shall become due and payable
either at maturity, upon any redemption, by declaration or otherwise; or default
in the performance, or breach, of any covenant or warranty of the Issuer in
respect of the Notes and continuance of such default or breach for a period of
60 days (or 180 days in the case of a Reporting Failure) after there has been
given, by registered or certified mail, to the Issuer by the Trustee or to the
Issuer and the Trustee by the Holders of at least 25% in aggregate principal
amount of the Outstanding Notes, a written notice specifying such default or
breach and requiring it to be remedied and stating that such notice is a “Notice
of Default” hereunder; or either (1) default in payment of any Indebtedness of
the Issuer or any Subsidiary of the Issuer within any applicable grace period
after final maturity or (2) the acceleration of Indebtedness of the Issuer or
any Subsidiary of the Issuer by the holders thereof because of a default and, in
either case, the total amount of the Indebtedness unpaid or accelerated exceeds
$25.0 million; or the entry of a decree or order by a court having jurisdiction
in the premises adjudging the Issuer or any Significant Subsidiary as bankrupt
or insolvent, or approving as properly filed a petition seeking reorganization
arrangement, adjustment or composition of or in respect of the Issuer or any
Significant Subsidiary under the federal bankruptcy law or any other applicable
federal or state law, or appointing a receiver, liquidator, assignee, trustee,
sequestrator (or other similar official) of the Issuer or any Significant
Subsidiary or for any substantial part of its property, or ordering the winding
up or liquidation of its affairs, and the continuance of any such decree or
order unstayed and in effect for a period of 60 consecutive days; or the
institution by the Issuer or any Significant Subsidiary of proceedings to be
adjudicated as bankrupt or insolvent or the consent by the Issuer or any
Significant Subsidiary to the institution of bankruptcy or insolvency
proceedings against it, or the filing by the Issuer or any Significant
Subsidiary of a petition or answer or consent seeking reorganization or relief
under the federal bankruptcy law or any other applicable federal or state law,
or the consent by the Issuer or any Significant Subsidiary to the filing of any
such petition or to the appointment of a receiver, liquidator, assignee,
trustee, sequestrator (or other similar official) of the Issuer or any
Significant Subsidiary or for any substantial part of its property, or the
making by the Issuer or any Significant Subsidiary of any general assignment for
the benefit of creditors; provided, however, that the occurrence of any of the
events described in clause (c) of Section 4.1 of the Indenture shall not
constitute an Event of Default if such occurrence is the result of changes in
generally accepted accounting principles as recognized by the American Institute
of Certified Public Accountants at the date as of which this Indenture is
executed and a certificate to such effect is delivered to the Trustee by the
Issuer’s independent public accountants

       

      If an
Event of Default described in clauses (a), (b), (c) or (d) of Section 4.1 of the
Indenture occurs and is continuing, then, and in each and every such case,
either the Trustee or the Holders of not less than 25% in aggregate principal
amount of the Notes then Outstanding under the Indenture by notice in writing to
the Issuer (and to the Trustee if given by Noteholders), may declare the entire
principal of all Notes, and the interest accrued thereon, if any, to be due and
payable immediately, and upon any such declaration, the same shall become
immediately due and payable. If an Event of Default described in clause (e) or
(f) of Section 4.1 of the Indenture occurs and is continuing, then and in each
and every such case, unless the principal of all the Notes shall have already
become due and payable, the entire principal of all of the Notes then
Outstanding, and interest accrued thereon, if any, will become immediately due
and payable without any declaration of acceleration or other act on the part of
the Trustee or any Holders.

       

      The
foregoing provisions, however, are subject to the condition that if, at any time
after the principal of the Notes shall have been so declared due and payable or
become automatically due and payable, and before any judgment or decree for the
payment of the moneys due shall have been obtained or entered as hereinafter
provided, the Issuer shall pay or shall deposit with the Trustee a sum
sufficient to pay all matured installments of interest upon all the Notes and
the principal of any and all Notes which shall have become due otherwise than by
acceleration (with interest upon such principal and, to the extent that payment
of such interest is enforceable under applicable law, on overdue installments of
interest, at the same rate as the rate of interest specified in the Notes to the
date of such payment or deposit) and such amount as shall be sufficient to cover
reasonable compensation to the Trustee and each predecessor Trustee and their
agents, attorneys and counsel, and all other expenses and liabilities incurred,
and all advances made, by the Trustee and each predecessor Trustee except as a
result of negligence or bad faith, and if any and all Events of Default under
the Indenture, other than the non-payment of the principal of Notes which shall
have become due by acceleration, shall have been cured, waived or otherwise
remedied as provided herein, then and in every such case the Holders of a
majority in aggregate principal amount of all the Notes then Outstanding, by
written notice to the Issuer and to the Trustee, may waive all defaults with
respect to each such series (or with respect to all the Notes, as the case may
be) and rescind and annul such declaration and its consequences, but no such
waiver or rescission and annulment shall extend to or shall affect any
subsequent default or shall impair any right consequent thereon.

       

      12.           Trustee Dealings with Issuer.
Subject to certain limitations, the Trustee in its individual or any other
capacity may become the owner or pledgee of Notes and may otherwise deal with
the Issuer or any Affiliate of the Issuer with the same rights it would have if
it were not Trustee.

       

      13.           No Recourse Against Others.
No past, present or future director, officer, employee, incorporator or sponsor,
member, partner or holder of equity interest of the Issuer, as such, shall have
any liability for any obligations of the Issuer under the Indenture, the Notes
or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder by accepting a Note waives and releases all such
liability.

       

      14.           Authentication. This Note
shall not be valid until authenticated by the manual signature of the Trustee or
an authenticating agent.

       

      15.           Abbreviations. Customary
abbreviations may be used in the name of a Holder or an assignee, such as: TEN
COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUST (=
Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

       

      16.           CUSIP Numbers. Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes and
has directed the Trustee to use CUSIP numbers in notices of redemption or
notices of Offers to Purchase as a convenience to Holders. No representation is
made as to the correctness of such numbers either as printed on the Notes or as
contained in any notice of redemption or notice of an offer to purchase and
reliance may be placed only on the other identification numbers printed thereon
and any such redemption or offer to purchase shall not be affected by any defect
in or omission of such numbers.

       

      The
Issuer shall furnish to any Holder upon written request and without charge a
copy of the Indenture. Requests may be made to: Texas Gas Transmission, LLC, 9
Greenway Plaza, Suite 2800, Houston, TX 77046, Attn: General Counsel, Facsimile
No.: (866) 459-7336.

       

      17.           Governing Law. The law of the
State of New York shall govern and be used to construe this Note.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Assignment
Form

       

      To assign
this Note, fill in the form below:

       

      (I) or
(we) assign and transfer this Note to

       

      

       

                                                         (Insert
assignee’s social security or other tax I.D. no.)

       

      

       

      

       

      

       

      

       

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

       

      and
irrevocably appoint

       

           as agent
to transfer this Note on the books of the Issuer. The agent may substitute
another to act for him.

       

      

       

      Date:                                

       

      Your
Signature:                                                                           

      (Sign
exactly as your name appears on the face of this Note)

      

      

      Signature
Guarantee:                                                                           

      

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

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      SCHEDULE
OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

       

      The
following exchanges of a part of this Global Note for an interest in another
Global Note or for a Definitive Note, or exchanges of a part of another Global
Note or Definitive Note for an interest in this Global Note, have been
made:

       

      

       

      
        	
                Date of Exchange

              	
                Amount
      of decrease in Principal Amount of this
      Global Note

              	
                Amount
      of increase in Principal Amount of this Global Note

              	
                Principal
      Amount of this Global Note following such decrease (or increase)

              	
                Signature
      of authorized signatory of Trustee or Note Custodian

              
	 
      	 
      	 
      	 
      	 
      

      

      

       

      

       

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      EXHIBIT
B

       

      

       

      FORM
OF CERTIFICATE OF TRANSFER

       

      TEXAS GAS
TRANSMISSION, LLC

      [3800
Frederica Street

      Ownesboro,
KY  42301]

      Attn:
Jamie Buskill, Chief Financial Officer

      

      The Bank
of New York Trust Company, N.A.

      2 North
LaSalle St., Suite 1020

      Chicago,
IL  60602

      Attn:
Corporate Trust Administration

      Facsimile
No.: (312) 827-8542

      

      Re:           5.50% Notes due
2013

       

      Reference
is hereby made to the Indenture, dated as of March 27, 2008 (the “Indenture”),
among Texas Gas Transmission, LLC, as issuer (the “Issuer”) and The Bank of New
York Trust Company, N.A., as Trustee. Capitalized terms used but not defined
herein shall have the meanings given to them in the Indenture.

       

      , (the “Transferor”) owns and proposes
to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto,
in the principal amount of $  in such
Note[s] or interests (the “Transfer”‘), to   (the
“Transferee”), as further specified in Annex A hereto. In connection with the
Transfer, the Transferor hereby certifies that:

       

      [CHECK
ALL THAT APPLY]

       

      1.           ⁯
Check if Transferee will take delivery of a beneficial interest in the 144A
Global Note or a Definitive Note Pursuant to Rule 144A. The Transfer is being
effected pursuant to and in accordance with Rule 144A under the United States
Securities Act of 1933, as amended (the “Securities Act’), and, accordingly, the
Transferor hereby further certifies that the beneficial interest or Definitive
Note is being transferred to a Person that the Transferor reasonably believed
and believes is purchasing the beneficial interest or Definitive Note for its
own account, or for one or more accounts with respect to which such Person
exercises sole investment discretion, and such Person and each such account is a
“qualified institutional buyer” within the meaning of Rule 144A in a transaction
meeting the requirements of Rule 144A and such Transfer is in compliance with
any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Transfer in accordance with the terms of the
Indenture, the transferred beneficial interest or Definitive Note will be
subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the 144A Global Note and/or the Definitive Note and in the
Indenture and the Securities Act.

       

      2.           ⁯
Check if Transferee will take delivery of a beneficial interest in the
Regulation S Global Note or a Definitive Note pursuant to Regulation S. The
Transfer is being effected pursuant to and in accordance with Rule 903 or Rule
904 under the Securities Act and, accordingly, the Transferor hereby further
certifies that (i) the Transfer is not being made to a Person in the United
States and (x) at the time the buy order was originated, the Transferee was
outside the United States or such Transferor and any Person acting on its behalf
reasonably believed and believes that the Transferee was outside the United
States or (y) the transaction was executed in, on or through the facilities of a
designated offshore securities market and neither such Transferor nor any Person
acting on its behalf knows that the transaction was prearranged with a buyer in
the United States, (ii) no directed selling efforts have been made in
contravention of the requirements of Rule 903(b) or Rule 904(a) of Regulation S
under the Securities Act, (iii) the transaction is not part of a plan or scheme
to evade the registration requirements of the Securities Act and (iv) if the
proposed transfer is being made prior to the expiration of the Distribution
Compliance Period, the transfer is not being made to a U.S. Person or for the
account or benefit of a U.S. Person (other than an Initial Purchaser). Upon
consummation of the proposed transfer in accordance with the terms of the
Indenture, the transferred beneficial interest or Definitive Note will be
subject to the restrictions on Transfer enumerated in the Private Placement
Legend printed on the Regulation S Global Note, the Temporary Regulation S
Global Note and/or the Definitive Note and in the Indenture and the Securities
Act.

       

      3.           ⁯
Check and complete if Transferee will take delivery of a Definitive Note
pursuant to any provision of the Securities Act other than Rule 144A or
Regulation S. The Transfer is being effected in compliance with the transfer
restrictions applicable to beneficial interests in Restricted Global Notes and
Restricted Definitive Notes and pursuant to and in accordance with the
Securities Act and any applicable blue sky securities laws of any state of the
United States, and accordingly the Transferor hereby further certifies that
(check one):

       

      (a)           ⁯
such Transfer is being effected pursuant to and in accordance with Rule 144
under the Securities Act;

       

      or

       

      (b)           ⁯
such Transfer is being effected to the Issuer or a Subsidiary
thereof;

       

      or

       

      (c)           ⁯
such Transfer is being effected pursuant to an effective registration statement
under the Securities Act and in compliance with the prospectus delivery
requirements of the Securities Act.

       

      4.           ⁯
Check if Transferee will take delivery of a beneficial interest in an
Unrestricted Global Note or of an Unrestricted Definitive Note.

       

      (a)           ⁯
Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected
pursuant to and in accordance with Rule 144 under the Securities Act and in
compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any state of the United States and (ii)
the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the
Securities Act. Upon consummation of the proposed Transfer in accordance with
the terms of the Indenture, the transferred beneficial interest or Definitive
Note will no longer be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Restricted Global Notes, on Restricted
Definitive Notes and in the Indenture.

       

      (b)           ⁯
Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being
effected pursuant to and in accordance with Rule 903 or Rule 904 under the
Securities Act and in compliance with the transfer restrictions contained in the
Indenture and any applicable blue sky securities laws of any state of the United
States and (ii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with
the Securities Act. Upon consummation of the proposed Transfer in accordance
with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will no longer be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the Restricted Global
Notes, on Restricted Definitive Notes and in the Indenture.

       

      (c)           ⁯
Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being
effected pursuant to and in compliance with an exemption from the registration
requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and
in compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any State of the United States and (ii)
the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the
Securities Act. Upon consummation of the proposed Transfer in accordance with
the terms of the Indenture, the transferred beneficial interest or Definitive
Note will not be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Restricted Global Notes or Restricted
Definitive Notes and in the Indenture.

       

      This
certificate and the statements contained herein are made for your benefit and
the benefit of the Issuer.

       

      

       

      

      [Insert
Name of Transferor]

      

      

      

      By:           

      Name:

      Title:

      

      

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ANNEX
A TO CERTIFICATE OF TRANSFER

       

      1.           The
Transferor owns and proposes to transfer the following:

       

      [CHECK
ONE OF (a) OR (b)]

       

      (a)           ⁬
a beneficial interest in the:

       

      (i)           ⁬
144A Global Note (CUSIP), or

       

      (ii)           ⁬
Regulation S Global Note (CUSIP), or

       

      (b)           ⁬
a Restricted Definitive Note.

       

      2.           After
the Transfer the Transferee will hold:

       

      [CHECK
ONE OF (a), (b) OR (c)]

       

      (a)           ⁬
a beneficial interest in the:

       

      (i)           ⁬
144A Global Note (CUSIP), or

       

      (ii)           ⁬
Regulation S Global Note (CUSIP), or

       

      (iii)           ⁬
Unrestricted Global Note (CUSIP), or

       

      (b)           ⁬
a Restricted Definitive Note; or

       

      (c)           ⁬
an Unrestricted Definitive Note,

       

      in
accordance with the terms of the Indenture.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      EXHIBIT
C

       

      FORM
OF CERTIFICATE OF EXCHANGE

       

      

      TEXAS GAS
TRANSMISSION, LLC

      [3800
Frederica Street

      Ownesboro,
KY  42301]

      Attn:
Jamie Buskill, Chief Financial Officer

      

      The Bank
of New York Trust Company, N.A.

      2 North
LaSalle St., Suite 1020

      Chicago,
IL  60602

      Attn:
Corporate Trust Administration

      Facsimile
No.: (312) 827-8542

      

      Re:           5.50%
Notes due 2013

       

      Reference
is hereby made to the Indenture, dated as of March 27, 2008 (the “Indenture”),
among Texas Gas Transmission, LLC, as issuer (the “Issuer”) and The Bank of New
York Trust Company, N.A., as Trustee. Capitalized terms used but not defined
herein shall have the meanings given to them in the Indenture.

       

      , (the “Owner”) owns and proposes to
exchange the Note[s] or interest in such Note[s] specified herein, in the
principal amount of $ in such Note[s] or interests (the “Exchange”). In
connection with the Exchange, the Owner hereby certifies that:

       

      1.           Exchange
of Restricted Definitive Notes or Beneficial Interests in a Restricted Global
Note for Unrestricted Definitive Notes or Beneficial Interests in an
Unrestricted Global Note

       

      (a)           ⁯
Check if Exchange is from beneficial interest in a Restricted Global Note to
beneficial interest in an Unrestricted Global Note. In connection with the
Exchange of the Owner’s beneficial interest in a Restricted Global Note for a
beneficial interest in an Unrestricted Global Note in an equal principal amount,
the Owner hereby certifies (i) the beneficial interest is being acquired for the
Owner’s own account without transfer, (ii) such Exchange has been effected in
compliance with the transfer restrictions applicable to the Restricted Global
Note and pursuant to and in accordance with the United States Securities Act of
1933, as amended (the “Securities Act”), (iii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in
order to maintain compliance with the Securities Act and (iv) the beneficial
interest in an Unrestricted Global Note is being acquired in compliance with any
applicable blue sky securities laws of any state of the United
States.

       

      (b)           ⁯
Check if Exchange is from beneficial interest in a Restricted GlobalNote to
Unrestricted Definitive Note. In connection with the Exchange of the Owner’s
beneficial interest in a Restricted Global Note for an Unrestricted Definitive
Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being
acquired for the Owner’s own account without transfer, (ii) such Exchange has
been effected in compliance with the transfer restrictions applicable to the
Restricted Global Note and pursuant to and in accordance with the Securities
Act, (iii) the restrictions on transfer contained in the Indenture and the
Private Placement Legend are not required in order to maintain compliance with
the Securities Act and (iv) the Unrestricted Definitive Note is being acquired
in compliance with any applicable blue sky securities laws of any state of the
United States.

       

      (c)           ⁯
Check if Exchange is from Restricted Definitive Note to beneficial interest in
an Unrestricted Global Note. In connection with the Owner’s Exchange of a
Restricted Definitive Note for a beneficial interest in an Unrestricted Global
Note, the Owner hereby certifies (i) the beneficial interest is being acquired
for the Owner’s own account without transfer, (ii) such Exchange has been
effected in compliance with the transfer restrictions applicable to Restricted
Definitive Notes and pursuant to and in accordance with the Securities Act,
(iii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the beneficial interest is being acquired in compliance
with any applicable blue sky securities laws of any state of the United
States.

       

      (d)           ⁯
Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive
Note. In connection with the Owner’s Exchange of a Restricted Definitive Note
for an Unrestricted Definitive Note, the Owner hereby certifies (i) the
Unrestricted Definitive Note is being acquired for the Owner’s own account
without transfer, (ii) such Exchange has been effected in compliance with the
transfer restrictions applicable to Restricted Definitive Notes and pursuant to
and in accordance with the Securities Act, (iii) the restrictions on transfer
contained in the Indenture and the Private Placement Legend are not required in
order to maintain compliance with the Securities Act and (iv) the Unrestricted
Definitive Note is being acquired in compliance with any applicable blue sky
securities laws of any state of the United States.

       

      2.           Exchange
of Restricted Definitive Notes or Beneficial Interests in Restricted Global
Notes for Restricted Definitive Notes or Beneficial Interests in Restricted
Global Notes

       

      (a)           ⁯
Check if Exchange is from beneficial interest in a Restricted GlobalNote to
Restricted Definitive Note. In connection with the Exchange of the Owner’s
beneficial interest in a Restricted Global Note for a Restricted Definitive Note
with an equal principal amount, the Owner hereby certifies that the Restricted
Definitive Note is being acquired for the Owner’s own account without transfer.
Upon consummation of the proposed Exchange in accordance with the terms of the
Indenture, the Restricted Definitive Note issued will continue to be subject to
the restrictions on transfer enumerated in the Private Placement Legend printed
on the Restricted Definitive Note and in the Indenture and the Securities
Act.

       

      (b)           ⁯
Check if Exchange is from Restricted Definitive Note to beneficial interest in a
Restricted Global Note. In connection with the Exchange of the Owner’s
Restricted Definitive Note for a beneficial interest in the [CIRCLE ONE] 144A
Global Note, Regulation S Global Note, with an equal principal amount, the Owner
hereby certifies (i) the beneficial interest is being acquired for the Owner’s
own account without transfer and (ii) such Exchange has been effected in
compliance with the transfer restrictions applicable to the Restricted
Definitive Note and pursuant to and in accordance with the Securities Act, and
in compliance with any applicable blue sky securities laws of any state of the
United States. Upon consummation of the proposed Exchange in accordance with the
terms of the Indenture, the beneficial interest issued will be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on
the relevant Restricted Global Note and in the Indenture and the Securities
Act.

       

      This
certificate and the statements contained herein are made for your benefit and
the benefit of the Issuer.

       

      

       

      

      [Insert
Name of Transferor]

      

      

      

      By:           

      Name:

      Title:

      

      Dated:                                                                           

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      TABLE
OF CONTENTS

       

       

      ARTICLE
ONE DEFINITIONS AND INCORPORATION BY REFERENCE 

      
        	
                 
      

              	
                Section
      1.1Definitions.

              

      

       

      
        	
                 
      

              	
                Section 1.2Other
      Definitions.

              

      

       

      
        	
                 
      

              	
                Section
      1.3Incorporation by Reference of Trust Indenture
    Act.

              

      

       

      
        	
                 
      

              	
                Section 1.4Rules of
      Construction.

              

      

       

      ARTICLE
TWO NOTES 

       

      
        	
                 
      

              	
                Section 2.1Form and
      Dating.

              

      

       

      
        	
                 
      

              	
                Section 2.2Execution
      and Authentication.

              

      

       

      
        	
                 
      

              	
                Section 2.3Registrar
      and Paying Agent.

              

      

       

      
        	
                 
      

              	
                Section 2.4Paying Agent
      to Hold Money in Trust.

              

      

       

      
        	
                 
      

              	
                Section 2.5Holder
      Lists.

              

      

       

      
        	
                 
      

              	
                Section 2.6Transfer and
      Exchange.

              

      

       

      
        	
                 
      

              	
                Section 2.7Replacement
      Notes.

              

      

       

      
        	
                 
      

              	
                Section 2.8Outstanding
      Notes.

              

      

       

      
        	
                 
      

              	
                Section 2.9Treasury
      Notes.

              

      

       

      
        	
                 
      

              	
                Section 2.10Temporary
      Notes.

              

      

       

      
        	
                 
      

              	
                Section
      2.11Cancellation.

              

      

       

      
        	
                 
      

              	
                Section 2.12Defaulted
      Interest.

              

      

       

      
        	
                 
      

              	
                Section 2.13CUSIP or
      ISIN Numbers.

              

      

       

      
        	
                 
      

              	
                Section 2.14Issuance of
      Additional Notes.

              

      

       

      
        	
                 
      

              	
                Section 2.15Record
      Date.

              

      

       

      ARTICLE
THREE COVENANTS OF THE ISSUER 

      
        	
                 
      

              	
                Section 3.1Payment of
      Principal and Interest.

              

      

       

      
        	
                 
      

              	
                Section 3.2Appointment
      to Fill a Vacancy in Office of
Trustee.

              

      

       

      
        	
                 
      

              	
                Section 3.3Written
      Statement to Trustee.

              

      

       

      
        	
                 
      

              	
                Section 3.4Limitations
      upon Liens.

              

      

       

      
        	
                 
      

              	
                Section 3.5Limitation
      on Sale and Leaseback Transactions.

              

      

       

      
        	
                 
      

              	
                Section 3.6Holders
      Lists.

              

      

       

      
        	
                 
      

              	
                Section 3.7Reports by
      the Issuer.

              

      

       

      
        	
                 
      

              	
                Section 3.8Reports by
      the Trustee.

              

      

       

      ARTICLE
FOUR DEFAULTS ADD REMEDIES 

      
        	
                 
      

              	
                Section 4.1Event of
      Default Defined, Acceleration of Maturity, Waiver of
    Default.

              

      

       

      
        	
                 
      

              	
                Section 4.2Collection
      of Indebtedness by Trustee; Trustee May Prove
  Debt.

              

      

       

      
        	
                 
      

              	
                Section 4.3Application
      of Proceeds.

              

      

       

      
        	
                 
      

              	
                Section 4.4Suits for
      Enforcement.

              

      

       

      
        	
                 
      

              	
                Section 4.5Restoration
      of Rights on Abandonment of
Proceedings.

              

      

       

      
        	
                 
      

              	
                Section 4.6Limitations
      on Suits by Holders.

              

      

       

      
        	
                 
      

              	
                Section
      4.7Unconditional Right of Holders to Institute Certain
      Suits.

              

      

       

      
        	
                 
      

              	
                Section 4.8Powers and
      Remedies Cumulative; Delay or Omission Not Waiver of
    Default.

              

      

       

      
        	
                 
      

              	
                Section 4.9Control by
      Holders of Notes.

              

      

       

      
        	
                 
      

              	
                Section 4.10Waiver of
      Past Defaults.

              

      

       

      
        	
                 
      

              	
                Section 4.11Trustee to
      Give Notice of Default, But May Withhold in Certain
      Circumstances.

              

      

       

      
        	
                 
      

              	
                Section 4.12Right of
      Court to Require Filing of Undertaking to Pay
  Costs.

              

      

       

      ARTICLE
FIVE CONCERNING THE TRUSTEE 

       

      
        	
                 
      

              	
                Section 5.1Duties and
      Responsibilities of the Trustee; During, Default; Prior to
      Default.

              

      

       

      
        	
                 
      

              	
                Section 5.2Certain
      Rights of Trustee.

              

      

       

      
        	
                 
      

              	
                Section 5.3Trustee Not
      Responsible for Recitals Disposition of Notes or Applications of Proceeds
      Thereof.

              

      

       

      
        	
                 
      

              	
                Section 5.4Trustee and
      Agents May Hold Notes, Collections
etc.

              

      

       

      
        	
                 
      

              	
                Section 5.5Moneys Held
      by Trustee.

              

      

       

      
        	
                 
      

              	
                Section 5.6Compensation
      and Indemnification of Trustee and Its Prior
  Claim.

              

      

       

      
        	
                 
      

              	
                Section 5.7Right of
      Trustee to Rely on Officers’
Certificate.

              

      

       

      
        	
                 
      

              	
                Section 5.8Persons
      Eligible for Appointment as
Trustee.

              

      

       

      
        	
                 
      

              	
                Section 5.9Resignation
      and Removal; Appointment of Successor
Trustee.

              

      

       

      
        	
                 
      

              	
                Section 5.10Acceptance
      and Appointment of Successor
Trustee.

              

      

       

      
        	
                 
      

              	
                Section 5.11Merger,
      Conversion, Consolidation or Succession to Business of
      Trustee.

              

      

       

      
        	
                 
      

              	
                Section 5.12Appointment
      of Authenticating Agent.

              

      

       

      ARTICLE
SIX CONCERNING THE HOLDERS 

      
        	
                 
      

              	
                Section 6.1Evidence of
      Action Taken by Holders.

              

      

       

      
        	
                 
      

              	
                Section 6.2Proof of
      Execution of Instruments and of Holding of
  Notes.

              

      

       

      
        	
                 
      

              	
                Section 6.3Holders to
      be Treated as Owners.

              

      

       

      
        	
                 
      

              	
                Section 6.4Notes Owned
      by Issuer Deemed Not Outstanding.

              

      

       

      
        	
                 
      

              	
                Section 6.5Right of
      Revocation of Action Taken.

              

      

       

      ARTICLE
SEVEN AMENDMENTS 

      
        	
                 
      

              	
                Section 7.1Amendments
      and Supplements Without Consent of
Holders.

              

      

       

      
        	
                 
      

              	
                Section 7.2Amendments
      and Supplements With Consent of
Holders.

              

      

       

      
        	
                 
      

              	
                Section 7.3Effect of
      Amendment or Supplement to this
Indenture.

              

      

       

      
        	
                 
      

              	
                Section 7.4Documents to
      Be Given to Trustee

              

      

       

      
        	
                 
      

              	
                Section 7.5Notation on
      Notes in Respect of Amendments and
Supplements.

              

      

       

      ARTICLE
EIGHT SUCCESSORS 

      
        	
                 
      

              	
                Section 8.1Merger,
      Consolidation or Sale of Assets of the
Issuer.

              

      

       

      
        	
                 
      

              	
                Section 8.2Successor
      Person Substituted.

              

      

       

      ARTICLE
NINE SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED
MONEYS 

      
        	
                 
      

              	
                Section 9.1Satisfaction
      and Discharge of Indenture.

              

      

       

      
        	
                 
      

              	
                Section 9.2Application
      by Trustee of Funds Deposited for Payment of
  Notes.

              

      

       

      
        	
                 
      

              	
                Section 9.3Repayment of
      Moneys Held by Paying Agent.

              

      

       

      
        	
                 
      

              	
                Section 9.4Return of
      Moneys Held by Trustee and Paving Agent Unclaimed for Two
      Years.

              

      

       

      
        	
                 
      

              	
                Section 9.5Indemnity
      for U.S. Government Obligations.

              

      

       

      
        	
                 
      

              	
                Section 9.6Excess
      Funds.

              

      

       

      ARTICLE
TEN MISCELLANEOUS PROVISIONS 

      
        	
                 
      

              	
                Section
      10.1Incorporators, Sponsors, Members, Partners, Holders of Equity
      Interests, Officers and Directors of Issuer Exempt from Individual
      Liability.

              

      

       

      
        	
                 
      

              	
                Section 10.2Provisions
      of Indenture for the Sole Benefit of Parties and Holders of
      Notes.

              

      

       

      
        	
                 
      

              	
                Section 10.3Successors
      and Assigns of Issuer Bound by
Indenture.

              

      

       

      
        	
                 
      

              	
                Section 10.4Notices and
      Demands on Issuer, Trustee and Holders of
Notes.

              

      

       

      
        	
                 
      

              	
                Section 10.5Officers’
      Certificates and Opinions of Counsel; Statements to Be Contained
      Therein.

              

      

       

      
        	
                 
      

              	
                Section 10.6Payments
      Due on Saturdays, Sundays and
Holidays.

              

      

       

      
        	
                 
      

              	
                Section 10.7Conflict of
      Any Provision of Indenture with Trust Indenture Act of
    1939.

              

      

       

      
        	
                 
      

              	
                Section 10.8New York
      Law to Govern.

              

      

       

      
        	
                 
      

              	
                Section
      10.9Counterparts.

              

      

       

      
        	
                 
      

              	
                Section 10.10Effect of
      Headings.

              

      

       

      
        	
                 
      

              	
                Section 10.11Section
      10.11  Waiver of Jury
Trial.

              

      

       

      
        	
                 
      

              	
                Section 10.12Section
      10.12  Force Majeure.

              

      

       

      ARTICLE
ELEVEN REDEMPTION AND PREPAYMENT 

      
        	
                 
      

              	
                Section 11.1Notices to
      Trustee.

              

      

       

      
        	
                 
      

              	
                Section 11.2Selection
      of Notes to Be Redeemed.

              

      

       

      
        	
                 
      

              	
                Section 11.3Notice of
      Redemption.

              

      

       

      
        	
                 
      

              	
                Section 11.4Effect of
      Notice of Redemption.

              

      

       

      
        	
                 
      

              	
                Section 11.5Deposit of
      Redemption Price.

              

      

       

      
        	
                 
      

              	
                Section 11.6Notes
      Redeemed in Part.

              

      

       

      
        	
                 
      

              	
                Section 11.7Optional
      Redemption.

              

      

       

      
        	
                 
      

              	
                Section 11.8Mandatory
      Redemption.exhibit10_1.htm

    
      
         

      

      
         

        
          

        

      

      
         

        
          Exhibit
10.1

        

      

    

    TEXAS
GAS TRANSMISSION, LLC

     

    $250,000,000

     

    5.50%
Senior Notes due 2013

     

    Purchase
Agreement

     

    March 24,
2008

     

    Credit
Suisse Securities (USA) LLC

    J.P.
Morgan Securities Inc.

    Wachovia
Capital Markets, LLC

    As
Representatives of the Initial Purchasers

    c/o J.P.
Morgan Securities Inc.

    270 Park
Avenue

    New York,
New York 10017

     

    Ladies
and Gentlemen:

     

    Texas Gas
Transmission, LLC, a limited liability company organized under the laws of
Delaware (the “Company”), , proposes to issue and sell to the several parties
named in Schedule I hereto (the “Initial Purchasers”), for whom you (the
“Representatives”) are acting as representatives, $250,000,000 principal amount
of the Company’s 5.50% Senior Notes due 2013 (the “Securities”).  The
Securities are to be issued under an indenture (the “Indenture”), to be dated as
of the Closing Date, between the Company and The Bank of New York Trust Company,
N.A., as trustee (the “Trustee”).  To the extent there are no
additional parties listed on Schedule I other than you, the term
Representatives as used herein shall mean you as the Initial Purchasers, and the
terms Representatives and Initial Purchasers shall mean either the singular or
plural as the context requires.  The use of the neuter in this
Agreement shall include the feminine and masculine wherever
appropriate.  Certain terms used herein are defined in Section 21
hereof.

     

    The sale
of the Securities to the Initial Purchasers will be made without registration of
the Securities under the Act in reliance upon exemptions from the registration
requirements of the Act.

     

    In
connection with the sale of the Securities, the Company has prepared a
preliminary offering memorandum, dated March 24, 2008 (as amended or
supplemented at the date thereof, including any and all exhibits thereto, the
“Preliminary Memorandum”), and a final offering memorandum, dated March 24, 2008
(as amended or supplemented at the Execution Time, including any and all
exhibits thereto, the “Final Memorandum”).  Each of the Preliminary
Memorandum and the Final Memorandum sets forth certain information concerning
the Company and the Securities.  The Company hereby confirms that it
has authorized the use of the Disclosure Package, the Preliminary Memorandum and
the Final Memorandum in connection with the offer and sale of the Securities by
the Initial Purchasers.

     

    1. Representations and
Warranties.  The Company represents and warrants to, and agrees
with, each Initial Purchaser as set forth below in this
Section 1.

     

    (a) The
Preliminary Memorandum, at the date thereof, did not contain any untrue
statement of a material fact or omit to state any material fact necessary in
order to make the statements therein, in the light of the circumstances under
which they were made, not misleading.  On the date thereof and on the
Closing Date, the Final Memorandum did not and will not (and any amendment or
supplement thereto, at the date thereof and on the Closing Date, will not)
contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided, however, that the
Company makes no representation or warranty as to the information contained in
or omitted from the Preliminary Memorandum or the Final Memorandum in reliance
upon and in conformity with information furnished in writing to the Company by
or on behalf of the Initial Purchasers through the Representatives specifically
for inclusion therein, it being understood and agreed that the only such
information furnished by or on behalf of any Initial Purchaser consists of the
information described as such in Section 8(b) hereof.

     

    (b) The
Disclosure Package, as of the Execution Time, did not contain any untrue
statement of a material fact or omit to state any material fact necessary in
order to make the statements therein, in the light of the circumstances under
which they were made, not misleading.  The preceding sentence does not
apply to statements in or omissions from the Disclosure Package based upon and
in conformity with information furnished in writing to the Company by or on
behalf of the Initial Purchasers through the Representatives specifically for
use therein, it being understood and agreed that the only such information
furnished by or on behalf of any Initial Purchaser consists of the information
described as such in Section 8(b) hereof.

     

    (c) No order
or decree preventing the use of the Preliminary Memorandum or the Final
Memorandum, nor any order asserting that the transactions contemplated by this
Agreement are subject to the registration requirements of the Act, has been
issued, and no proceeding for that purpose has commenced or is pending or, to
the Company’s knowledge, is contemplated.

     

    (d) Except as
contemplated by this Agreement, none of the Company, its Affiliates, or any
person acting on their behalf has, directly or indirectly, made offers or
sales of any Security, or solicited offers to buy, any Security under
circumstances that would require the registration of the Securities under the
Act.

     

    (e) None of
the Company, its Affiliates, or any person acting on their behalf has: (i)
engaged in any form of general solicitation or general advertising (within the
meaning of Regulation D) in connection with any offer or sale of the
Securities or (ii) engaged in any directed selling efforts (within the meaning
of Regulation S) with respect to the Securities; and each of the Company, its
Affiliates and the persons acting on their behalf has complied with the offering
restrictions requirement of Regulation S.

     

    (f) The
Securities satisfy the eligibility requirements of Rule 144A(d)(3) under
the Act.

     

    (g) Assuming
the completeness and accuracy of the representations and warranties of the
Initial Purchasers and their compliance with their agreements, in each case
contained in Section 4 hereof, no registration under the Act of the Securities
is required for the offer and sale of the Securities to or by the Initial
Purchasers in the manner contemplated herein, in the Disclosure Package and the
Final Memorandum.

     

    (h) The
Company has not paid or agreed to pay to any person any compensation for
soliciting another to purchase any securities of the Company (except as
contemplated in this Agreement).

     

    (i) The
Company has not offered, sold or issued any securities, or securities that are
convertible into other securities, with terms that are substantially similar to
the Securities during the six-month period preceding the date of the Final
Memorandum, including any sales pursuant to Section 4(2) under the Act,
Regulation D or Regulation S.  Neither the Company nor any of its
Affiliates, has sold or issued any securities that would be integrated with the
offering of the Securities contemplated by this Agreement pursuant to the Act,
the regulations promulgated thereunder or the interpretations thereof by the
Commission.

     

    (j) Each of
the Preliminary Memorandum and the Final Memorandum, as of its date, and each
amendment or supplement thereto, as of its date, contained or contains the
information specified in, and meets the requirements of, Rule 144A(d)(4) under
the Act.

     

    (k) The
Company has been duly formed and is validly existing and in good standing as a
limited liability company under the Delaware Limited Liability Company Act (the
“Delaware LLC Act”), has the full limited liability company power and authority
necessary to own or hold its properties and assets and to conduct the businesses
in which it is engaged, and is duly registered or qualified to do business and
in good standing as a foreign limited liability company in each jurisdiction
listed opposite its name in Schedule II attached hereto, such jurisdictions
being the only jurisdictions in which its ownership or lease of property or the
conduct of its business requires such qualification, except where the failure to
so register or qualify could not reasonably be expected to have a material
adverse effect on the condition (financial or other), results of operations,
securityholders’ equity, properties, business or prospects of the Company, taken
as a whole, whether or not arising in the ordinary course of business (a
“Material Adverse Effect”).

     

    (l) Boardwalk
Pipelines, LP, a Delaware limited partnership (the “Operating Partnership”) owns
a 100% limited liability company interest in the Company; such limited liability
company interest has been duly and validly authorized and issued in accordance
with the limited liability company agreement of the Company (as the same may be
amended and restated on or prior to the Closing Date, the “LLC Agreement”) and
is fully paid (to the extent required under the LLC Agreement) and
non-assessable (except as such non-assessability may be affected by Sections
18-607 and 18-804 of the Delaware LLC Act); and the Operating Partnership owns
such limited liability company interest free and clear of all liens,
encumbrances, security interests, equities, charges or claims (collectively,
“Liens”).

     

    (m) The
Company does not own, directly or indirectly, any equity or short- or long-term
debt securities of any corporation, partnership, limited liability company,
joint venture, association or other entity (other than intercompany advances),
and the Company has no subsidiaries.

     

    (n) On the
Closing Date, the Company will have the requisite limited liability company
power and authority to issue, sell and deliver the Securities, in accordance
with and upon the terms and conditions set forth in this Agreement, the
Indenture,  the LLC Agreement, the Preliminary Memorandum and the
Final Memorandum.  On the Closing Date, all corporate, partnership or
limited liability company action, as the case may be, required to be taken by
the Company or any of its Affiliates or members for the authorization, issuance,
sale and delivery of the Securities, the execution and delivery by the Company
of this Agreement, the Indenture and the Securities and the consummation of the
transactions contemplated by this Agreement, the Indenture and the Securities
shall have been validly taken.

     

    (o) The LLC
Agreement has been duly authorized and executed by the Operating
Partnership and is a valid and legally binding agreement of the Operating
Partnership, enforceable against the Operating Partnership in accordance
with its terms, except as the enforcement thereof may be limited by
bankruptcy, insolvency (including, without limitation, all laws relating to
fraudulent transfers), reorganization, moratorium or similar laws affecting
enforcement of creditors’ rights generally and except as enforcement thereof is
subject to general principles of equity (regardless of whether enforcement is
considered in a proceeding in equity or at law).

     

    (p) This
Agreement has been duly and validly authorized, executed and delivered by the
Company.

     

    (q) Each
Indenture has been duly authorized by the Company and, when duly executed and
delivered by the Company and the Trustee, will constitute a valid and binding
agreement of the Company, enforceable against the Company in accordance with its
terms, except as the enforcement thereof may be limited by bankruptcy,
insolvency (including, without limitation, all laws relating to fraudulent
transfers), reorganization, moratorium or similar laws affecting enforcement of
creditors’ rights generally and except as enforcement thereof is subject to
general principles of equity (regardless of whether enforcement is considered in
a proceeding in equity or at law).  While the parties hereto
acknowledge that the Indenture will not be qualified under the Trust Indenture
Act, on the Closing Date, the Indenture will conform in all material respects to
the requirements of the Trust Indenture Act and the rules and regulations of the
Commission applicable to an indenture that is qualified thereunder.

     

    (r) The
Securities have been duly authorized and, on the Closing Date, will have been
duly executed by the Company and, when authenticated, issued and delivered in
the manner provided for in the Indenture and delivered against payment of the
purchase price therefor as provided in this Agreement, will constitute valid and
binding obligations of the Company, enforceable against the Company in
accordance with their terms, except as the enforcement thereof may be limited by
bankruptcy, insolvency (including, without limitation, all laws relating to
fraudulent transfers), reorganization, moratorium or similar laws affecting
enforcement of creditors’ rights generally and except as enforcement thereof is
subject to general principles of equity (regardless of whether enforcement is
considered in a proceeding in equity or at law), and will be in the form
contemplated by, and entitled to the benefits of, the Indenture.

     

    (s) The
Securities and the Indenture will conform in all material respects to the
respective statements relating thereto contained in the Preliminary Memorandum
and the Final Memorandum.

     

    (t) None of
the offering, issuance and sale by the Company of the Securities and the
application of the proceeds therefrom as described under the caption “Use of
Proceeds” in each of the Preliminary Memorandum and the Final Memorandum, the
execution, delivery and performance of this Agreement, the Indenture and the
Securities by the Company , or the consummation of the transactions contemplated
by this Agreement and the Indenture (i) constitutes or will constitute a
violation of the certificate or agreement of limited partnership, certificate of
formation, the limited liability company agreement or other organizational
documents of the Company or, to the Company’s knowledge, any of its Affiliates,
(ii) constitutes or will constitute a breach or violation of or a default under
(or an event that, with notice or lapse of time or both, would constitute such a
breach or violation of or default under), any indenture, mortgage, deed of
trust, guarantee, loan agreement, lease or other agreement or instrument to
which the Company or, to the Company’s knowledge , any of its Affiliates is a
party, by which any of them is bound or to which any of their respective
properties or assets is subject, (iii) violates or will violate any statute,
law, ordinance, regulation, order, judgment, decree or injunction of any court
or governmental agency or body to which the Company or, to the Company’s
knowledge, any of its Affiliates or any of their respective properties or assets
may be subject or (iv) will result in the creation or imposition of any Lien
upon any property or assets of the Company or, to the Company’s knowledge , any
of its Affiliates, which conflicts, breaches, violations, defaults or Liens, in
the case of clauses (ii), (iii) or (iv), would, individually or in the
aggregate, have a Material Adverse Effect.

     

    (u) Except
for such consents, approvals, authorizations, registrations or qualifications as
may be required under applicable state securities laws in connection with the
purchase and sale of the Securities by the Initial Purchasers, no consent,
approval, authorization or order of, or filing or registration with, any court
or governmental agency or body to which the Company or any of its properties or
assets is subject is required for the execution, delivery and performance of
this Agreement, the Indenture and the Securities by the Company, the
consummation of the transactions contemplated by this Agreement and the
Indenture and the application of the proceeds from the sale of the Securities as
described under the caption “Use of Proceeds” in each of the Preliminary
Memorandum and the Final Memorandum.

     

    (v) At
December 31, 2007, the Company would have had, on the as adjusted basis
indicated in each of the Disclosure Package and the Final Memorandum, a
capitalization as set forth therein.  The historical financial
statements (including the related notes and supporting schedules) included in
the Preliminary Memorandum and the Final Memorandum present fairly in all
material respects the financial position, results of operations and cash flows
of the Company on the basis stated therein at the respective dates or for the
respective periods to which they apply, and have been prepared in accordance
with generally accepted accounting principles consistently applied throughout
the periods involved.  The summary historical information set forth in
the Preliminary Memorandum and the Final Memorandum under the caption “Summary
Historical Financial and Operating Data” is accurately presented in all material
respects and prepared on a basis consistent with the audited and unaudited
historical consolidated financial statements from which it has been
derived.

     

    (w) Deloitte
& Touche LLP, who have certified certain financial statements of the
Company, whose report appears in each of the Preliminary Memorandum and the
Final Memorandum and who have delivered the initial letter referred to in
Section 6(e) hereof, are independent certified public accountants with respect
to the Company under Rule 101 of the AICPA’s Code of Professional Conduct and
its interpretations and rulings and were such during the periods covered by the
financial statements on which they reported.

     

    (x) The
statistical and market-related data included in each of the Preliminary
Memorandum and the Final Memorandum are based on or derived from sources that
the Company believes to be reliable and accurate in all material
respects.

     

    (y) The
Company has good and indefeasible title to all real property and good title to
all personal property contemplated as owned by it in each of the Preliminary
Memorandum and the Final Memorandum, in each case free and clear of all Liens
and other defects, except as described in the Disclosure Package or that would
not materially affect the value of such property and would not materially
interfere with the use made and proposed to be made of such property as
described in each of the Preliminary Memorandum and the Final
Memorandum.  With respect to title to pipeline rights-of-way, the
Company has not received any actual notice or claim from any owner of land upon
which any pipeline that is owned by the Company is located that the Company does
not have sufficient title to enable it to use and occupy the pipeline
rights-of-way as they have been used and occupied in the past and are proposed
to be used and occupied in the future as described in each of the Preliminary
Memorandum and the Final Memorandum, except where such failure to have
sufficient title would not reasonably be expected to have, individually or in
the aggregate, a Material Adverse Effect. All assets held under lease or
license by the Company are held under valid, subsisting and enforceable leases
or licenses, with such exceptions as would not reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect or materially
interfere with the use made and proposed to be made of such assets as they have
been used in the past and are proposed to be used in the future as described in
each of the Preliminary Memorandum and the Final Memorandum.

     

    (z) The
Company carries or is covered by insurance from insurers of recognized financial
responsibility in such amounts and covering such risks as is reasonably adequate
for the conduct of its business and the value of its properties and as is
customary for companies engaged in similar businesses in similar
industries.  All policies of insurance of the Company are in full
force and effect, except as would not reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect; the Company is in
compliance with the terms of such policies in all material respects; and the
Company has not received notice from any insurer or agent of such insurer that
any material capital improvements or other expenditures are required or
necessary to be made in order to continue such insurance.

     

    (aa) The
Company owns or possesses adequate rights to use all material patents, patent
applications, trademarks, service marks, trade names, trademark registrations,
service mark registrations, copyrights, licenses and know-how (including trade
secrets and other unpatented and/or unpatentable proprietary or confidential
information, systems or procedures) necessary for the conduct of its business,
and the Company does not have any reason to believe that the conduct of its
business will conflict in any material respect with, and the Company has not
received any notice or claim of conflict with, any such rights of any other
person or party.

     

    (bb) Except as
described in the Disclosure Package, there are no legal or governmental
proceedings pending to which the Company is a party or to which any property or
asset of the Company is subject that could reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect or a material
adverse effect on the performance of this Agreement, the Indenture and the
Securities or the consummation of the transactions contemplated by this
Agreement and the Indenture, and to the Company’s knowledge, no such proceedings
are threatened or contemplated by governmental authorities or
others.  There are no legal or governmental proceedings pending that
would be required by the Act to be described in the Preliminary Memorandum and
the Final Memorandum, if the Preliminary Memorandum and the Final Memorandum
were prospectuses included in a registration statement on Form S-1 filed with
the Commission, that are not so described.

     

    (cc) The
statements set forth in each of the Preliminary Memorandum and the Final
Memorandum under the caption “Description of the Notes,” insofar as they purport
to constitute a summary of the terms of the Indenture and the Securities or a
summary of certain provisions of documents referred to therein, and under the
caption “Certain United States Federal Tax Consequences,” insofar as they
purport to summarize the laws referred to therein, are accurate summaries in all
material respects

     

    (dd) Except as
described in the Disclosure Package, no labor disturbance by the employees of
the Company (and to the extent that they perform services on behalf of the
Company, employees of any of its Affiliates) exists or, to the Company’s
knowledge , is imminent or threatened that could reasonably be expected to have
a Material Adverse Effect.

     

    (ee) Since the
date as of which information is given in the Preliminary Memorandum, except as
otherwise stated in the Disclosure Package, (i) the Company has not sustained
any loss or interference with its business from fire, explosion, flood or other
calamity, whether or not covered by insurance, any labor dispute or any court or
governmental action, order or decree, and (ii) there has not been any adverse
change in the members’ equity or short- or long-term debt of the Company or any
adverse change, or any development involving a prospective adverse change, in or
affecting the condition (financial or otherwise), results of operations,
securityholders’ equity, properties, management, business or prospects of the
Company, in each case except as could not reasonably be expected to have a
Material Adverse Effect or as set forth or contemplated in the Disclosure
Package.

     

    (ff) The
Company has filed all tax returns required to be filed through the date hereof,
which returns are complete and correct in all material respects, and has paid
all taxes shown to be due pursuant to such returns, other than those that (i) if
not paid, could not reasonably be expected to have a Material Adverse Effect or
(ii) are being contested in good faith and for which adequate reserves have been
established in accordance with generally accepted accounting
principles.

     

    (gg) Since the
date as of which information is given in the Preliminary Memorandum, except as
otherwise stated in the Disclosure Package, the Company has not (i) issued or
granted any securities, (ii) incurred any liability or obligation, direct or
contingent, other than liabilities and obligations that were incurred in the
ordinary course of business, (iii) entered into any transaction not in the
ordinary course of business or (iv) declared or paid any dividend or
distribution on its equity interests.

     

    (hh) The
Company (i) makes and keeps accurate books and records and (ii) maintains a
system of internal accounting controls sufficient to provide reasonable
assurance that (A) transactions are executed in accordance with management’s
general or specific authorizations, (B) transactions are recorded as necessary
to permit preparation of the Company’s financial statements in conformity with
accounting principles generally accepted in the United States and to maintain
accountability for its assets, (C) access to the Company’s assets is permitted
only in accordance with management’s general or specific authorization and (D)
the recorded accountability for the Company’s assets is compared with existing
assets at reasonable intervals and appropriate action is taken with respect to
any differences.  The Company’s internal controls over financial
reporting are effective and the Company is not aware of any material weakness in
its internal control over financial reporting.

     

    (ii) Since the
date of the Company’s most recent balance sheet reviewed or audited by Deloitte
& Touche LLP, (i) the Company has not been advised of (A) any significant
deficiencies in the design or operation of internal controls that are reasonably
likely to adversely affect the ability of the Company to record, process,
summarize and report financial data, or any material weaknesses in internal
controls (whether or not remediated) and (B) any fraud, whether or not material,
that involves management or other employees who have a significant role in the
internal controls of the Company, and (ii) since that date, there have been no
changes in internal controls that have materially affected, or are reasonably
likely to materially affect, internal controls, including any corrective actions
with regard to significant deficiencies and material weaknesses.

     

    (jj) There is
no relationship, direct or indirect, between or among the Company, on the one
hand, and the directors, officers, securityholders, customers or suppliers of
the Company, on the other hand, that would be required by the Act to be
described in the Preliminary Memorandum and the Final Memorandum, if the
Preliminary Memorandum and the Final Memorandum were prospectuses included in a
registration statement on Form S-1 filed with the Commission, that is not so
described.

     

    (kk) The
Company (i) is not in violation of its certificate of formation, the LLC
Agreement or other organizational documents, (ii) is not in breach of or default
under any term, covenant or condition contained in any indenture, mortgage, deed
of trust, loan agreement, guarantee, lease or other agreement or instrument to
which it is a party, by which it is bound or to which any of its properties or
assets is subject (and no event has occurred that, with notice or lapse of time
or both, would constitute such a breach or default), (iii) is not in violation
of any statute, law, ordinance, rule, regulation, order, judgment, decree or
injunction of any court or governmental agency or body to which it or its
property or assets may be subject and (iv) has not failed to obtain any license,
permit, certificate, franchise or other governmental authorization or permit
necessary to the ownership of its property or to the conduct of its business,
except, in the case of clauses (ii) or (iv), as could not reasonably be expected
to have a Material Adverse Effect.

     

    (ll) Except as
described in the Disclosure Package, the Company (i) is in compliance with any
and all applicable federal, state and local laws, regulations, ordinances,
rules, orders, judgments, decrees or other legal requirements relating to the
protection of human health and safety, the environment or natural resources or
imposing liability or standards of conduct concerning any Hazardous Materials
(as defined below) (“Environmental Laws”), (ii) has received, and as necessary
maintained, all permits required of it under applicable Environmental Laws to
conduct its business, (iii) is in compliance with all terms and conditions of
any such permits and (iv) does not have any liability in connection with the
release into the environment of any Hazardous Material, except where such
noncompliance with Environmental Laws, failure to receive and maintain required
permits, failure to comply with the terms and conditions of such permits or
liability in connection with such releases could not, individually or in the
aggregate, reasonably be expected to have a Material Adverse
Effect.  The term “Hazardous Material” means (1) any “hazardous
substance” as defined in the Comprehensive Environmental Response, Compensation
and Liability Act of 1980, as amended (“CERCLA”), (2) any “hazardous waste” as
defined in the Resource Conservation and Recovery Act, as amended, (3) petroleum
or any petroleum product, (4) any polychlorinated biphenyl and (5) any
pollutant, contaminant or hazardous, dangerous or toxic chemical, material,
waste or substance regulated under or within the meaning of any other
Environmental Law.  The Company has not been named as a “potentially
responsible party” under CERCLA or any other similar Environmental Law, except
with respect to any matters that, individually or in the aggregate, could not
reasonably be expected to have a Material Adverse Effect.  Except as
described in the Disclosure Package, the Company (A) is not a party to any
proceeding under Environmental Laws in which a governmental authority is also a
party, other than proceedings regarding which it is believed that no monetary
penalties in excess of $100,000 will be imposed, (B) has not received notice of
any potential liability for the disposal or release of any Hazardous Material,
except where such liability could not reasonably be expected to have a Material
Adverse Effect, and (C) does not anticipate any material capital expenditures
relating to Environmental Laws.

     

    (mm) The
Company is in compliance in all material respects with all presently applicable
provisions of the Employee Retirement Income Security Act of 1974, as amended,
including the regulations and published interpretations thereunder (“ERISA”); no
“reportable event” (as defined in ERISA) has occurred with respect to any
“pension plan” (as defined in ERISA) for which the Company would have any
liability; the Company has not incurred nor does it expect to incur liability
under (i) Title IV of ERISA with respect to the termination of, or withdrawal
from, any “pension plan” or (ii) Sections 412 or 4971 of the Internal Revenue
Code of 1986, as amended, including the regulations and published
interpretations thereunder (the “Code”); and each “pension plan” that is
intended to be qualified under Section 401(a) of the Code and for which the
Company would have any liability is so qualified and nothing has occurred,
whether by action or by failure to act, that would cause the loss of such
qualification.

     

    (nn) The
Company has, or on the Closing Date will have, such permits, consents, licenses,
franchises, certificates and other approvals or authorizations of governmental
or regulatory authorities (“Permits”) as are necessary to own or lease its
properties and to conduct its business in the manner described in each of the
Preliminary Memorandum and the Final Memorandum, except as disclosed in or
specifically contemplated by the Disclosure Package or except for any failure to
have any such Permit that could not reasonably be expected to have, individually
or in the aggregate, a Material Adverse Effect.  Except as described
in the Disclosure Package, the Company has fulfilled and performed all of its
material obligations with respect to all such Permits, and no event has occurred
that would prevent any such Permit from being renewed or reissued, that allows,
or after notice or lapse of time would allow, revocation or termination of any
such Permit or that would result in any other impairment of the rights of the
holder of any such Permit, except for any such non-renewal, revocation,
termination or impairment that could not reasonably be expected to have a
Material Adverse Effect.

     

    (oo) The
Company is not, and as of the Closing Date and after giving effect to the
application of the net proceeds of the offering as described under the caption
“Use of Proceeds” in the Disclosure Package and the Final Memorandum, the
Company will not be, an “investment company” as defined in the Investment
Company Act of 1940, as amended (the “Investment Company Act”).

     

    (pp) Neither
the Company nor, to the Company’s knowledge, any of its Affiliates, has
distributed, and prior to the later to occur of the Closing Date and completion
of the distribution of the Securities, neither the Company nor, to the Company’s
knowledge, any of its affiliates, will distribute, any offering material in
connection with the offering and sale of the Securities other than the
Disclosure Package and the Final Memorandum.

     

    (qq) Neither the Company nor, to the
Company’s knowledge, any of its affiliates has taken, nor will either of the
Company or, to the Company’s knowledge, any of its affiliates take, directly or
indirectly, any action that has constituted, that was designed to cause or
result in, or that could reasonably be expected to cause or result in, the
stabilization or manipulation of the price of any security of the Company to
facilitate the sale or resale of the Securities.

     

    (rr)            Except
for this Agreement, there are no contracts, agreements or understandings between
the Company and any person that would give rise to a valid claim against the
Company or any Initial Purchaser for a brokerage commission, finder’s fee or
other like payment in connection with the offering and sale of the Securities
contemplated by this Agreement.

     

    (ss) Except as disclosed in the Preliminary
Memorandum and the Final Memorandum, the Company (i) does not have any material
lending or other relationship with any Initial Purchaser or affiliate of any
Initial Purchaser and (ii) does not intend to use any of the proceeds from the
sale of the Securities hereunder to repay any outstanding debt owed to any
affiliate of any Initial Purchaser.

     

    Any
certificate signed by or on behalf of the Company and delivered to the
Representatives or counsel for the Initial Purchasers in connection with the
offering of the Securities shall be deemed a representation and warranty by the
Company, as to matters covered thereby, to each Initial Purchaser.

     

    2. Purchase and
Sale.  Subject to the terms and conditions and in reliance upon
the representations and warranties herein set forth, the Company agrees to sell
to each Initial Purchaser, and each Initial Purchaser agrees, severally and not
jointly, to purchase from the Company at a purchase price of 99.019% of the
principal amount thereof, plus accrued interest, if any, from March 27, 2008 to the Closing
Date, the principal amount of the Securities set forth opposite such Initial
Purchaser’s name in Schedule I hereto.

     

    3. Delivery and
Payment.  Delivery of and payment for the Securities shall be
made at 10:00 A.M., New York City time, on March 27, 2008,
or at such time on such later date not more than three Business Days after the
foregoing date as the Representatives shall designate, which date and time may
be postponed by agreement between the Representatives and the Company or as
provided in Section 9 hereof (such date and time of delivery and payment
for the Securities being herein called the “Closing Date”).  Delivery
of the Securities shall be made to the Representatives for the respective
accounts of the several Initial Purchasers against payment by the several
Initial Purchasers through the Representatives of the purchase price thereof to
or upon the order of the Company by wire transfer payable in same-day funds to
the account specified by the Company.  Delivery of the Securities
shall be made through the facilities of The Depository Trust Company unless the
Representatives shall otherwise instruct.

     

    4. Offering, Representations
and Warranties by Initial Purchasers.

     

    (a) Each
Initial Purchaser acknowledges that the Securities have not been and will not be
registered under the Act and may not be offered or sold within the United States
or to, or for the account or benefit of, U.S. persons (as defined in Regulation
S) except pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Act.

     

    (b) Each
Initial Purchaser, severally and not jointly, represents and warrants to and
agrees with the Company that:

     

    (i) it has
not offered or sold, and will not offer or sell, any Securities as part of
their distribution at any time except:

     

    (A) within
the United States to persons, or to, or for the account of benefit of, U.S.
persons, in each case whom it reasonably believes to be “qualified institutional
buyers” (as defined in Rule 144A under the Act) or

     

    (B) to
persons other than U.S. persons outside the United States in accordance with
Rule 903 of Regulation S;

     

    (ii) neither
it nor any person acting on its behalf has made or will make offers or sales of
the Securities in the United States by means of any form of general solicitation
or general advertising (within the meaning of Regulation D) in the United
States;

     

    (iii) in
connection with each sale pursuant to Section 4(b)(i)(A), it has taken or
will take reasonable steps to ensure that the purchaser of such Securities is
aware that such sale may be made in reliance on Rule 144A;

     

    (iv) neither
it, nor any of its Affiliates nor any person acting on its or their behalf, has
engaged or will engage in any directed selling efforts (within the meaning of
Regulation S) with respect to the Securities;

     

    (v) it is an
“accredited investor” (as defined in Rule 501(a) of Regulation D);

     

    (vi) without
the prior written consent of the Company, it has not given and will not give to
any prospective purchaser of the Securities any written information concerning
the offering of the Securities (“Written Information”) other than materials
contained in the Disclosure Package, the Final Memorandum or any other offering
materials prepared by or with the prior written consent of the Company; provided
that the prior written consent of the Company shall be deemed to have been given
in respect of (x) preliminary and final term sheets relating to the offer and
sale of the Securities containing customary terms and (y) material relating to
the offer and sale of the Securities prepared by the Initial Purchasers that
does not contain information provided by or on behalf of the Company
specifically for use in such material; and

     

    (vii) at or
prior to the confirmation of any sale of Securities pursuant to Regulation S, it
will have sent to each distributor, dealer or person receiving a selling
concession, fee or other remuneration that purchases Securities from it or
through it during the distribution compliance period (as defined in Regulation
S) a confirmation or notice to substantially the following effect:

     

    “The
Securities covered hereby have not been registered under the U.S. Securities Act
of 1933, as amended (the “Act”), and may not be offered or sold within the
United States or to, or for the account or benefit of, U.S. persons (i) as part
of their distribution at any time or (ii) otherwise until 40 days after the
later of the commencement of the offering and the date of closing of the
offering, except in either case in accordance with Regulation S or Rule 144A
under the Act. Terms used in this paragraph have the meanings given to them by
Regulation S.”

     

    (viii) it has
only communicated or caused to be communicated and will only communicate or
cause to be communicated any invitation or inducement to engage in investment
activity (within the meaning of Section 21 of the Financial Services and Markets
Act 2000 (the “FSMA”)) received by it in connection with the issue or sale of
any Securities, in circumstances in which Section 21(1) of the FSMA does not
apply to the Company;

     

    (ix) it has
complied and will comply with all applicable provisions of the FMSA with respect
to anything done by it in relation to the Securities in, from and otherwise
involving the United Kingdom; and

     

    (x) in
relation to each Member State of the European Economic Area which has
implemented the Prospectus Directive (each, a “Relevant Member State”), it has
not made and will not make an offer to the public of any Securities which are
the subject of the offering contemplated by this Agreement in that Relevant
Member State, except that it may make an offer to the public in that Relevant
Member State of any Securities at any time under the following exemptions under
the Prospectus Directive, if they have been implemented in that Relevant Member
State:

     

    
      	
              (A)  

            	
              to
      legal entities which are authorized or regulated to operate in the
      financial markets or, if not so authorized or regulated, whose corporate
      purpose is solely to invest in
securities;

            

    

     

    
      	
              (B)  

            	
              to
      any legal entity which has two or more of (i) an average of at least 250
      employees during the last financial year, (ii) a total balance sheet of
      more than €43,000,000 and (iii) an annual turnover of more than
      €50,000,000, as shown in its last annual or consolidated
      accounts;

            

    

     

    
      	
              (C)  

            	
              to
      fewer than 100 natural or legal persons (other than qualified investors as
      defined in the Prospectus Directive) subject to obtaining the prior
      written consent of the Representatives for any such offer;
    or

            

    

     

    
      	
              (D)  

            	
              in
      any other circumstances falling within Article 3(2) of the Prospectus
      Directive;

            

    

     

    provided
that no such offer of Securities shall result in a requirement for the
publication by the Company or any Initial Purchaser
of a prospectus pursuant to Article 3 of the Prospectus Directive.

     

    For the
purposes of this provision, the expression an “offer to the public” in relation
to any Securities in any Relevant Member State means the communication in any
form and by any means of sufficient information on the terms of the offer and
the Securities to be offered so as to enable an investor to decide to purchase
any Securities, as the same may be varied in that Member State by any measure
implementing the Prospectus Directive in that Member State and the expression
“Prospectus Directive” means Directive 2003/71/EC and includes any relevant
implementing measure in each Relevant Member State.

     

    5. Agreements.  The
Company agrees with each Initial Purchaser that:

     

    (a) The
Company will furnish to each Initial Purchaser and to counsel for the Initial
Purchasers, without charge, during the period referred to in Section 5(d) below, as many copies of
the Disclosure Package, the Final Memorandum, each amendment or supplement
thereto, and the materials contained therein as they may reasonably
request.

     

    (b) The
Company will prepare a final term sheet, containing solely a description of
final terms of the Securities and the offering thereof, in the form approved by
you and attached as Schedule III hereto.

     

    (c) The
Company will not amend or supplement the Disclosure Package or the Final
Memorandum without the prior written consent of the
Representatives.

     

    (d) If at any
time prior to the completion of the sale of the Securities by the Initial
Purchasers (as determined by the Representatives), any event occurs as a result
of which the Disclosure Package or the Final Memorandum, as then amended or
supplemented, would include any untrue statement of a material fact or omit to
state any material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made or the circumstances
then prevailing, not misleading, or if it should be necessary to amend or
supplement the Disclosure Package or the Final Memorandum to comply with
applicable law, the Company will promptly (i) notify the Representatives of any
such event; (ii) subject to the requirements of Section 5(c), prepare an
amendment or supplement that will correct such statement or omission or effect
such compliance; and (iii) supply any supplemented or amended Disclosure Package
or Final Memorandum to the several Initial Purchasers and counsel for the
Initial Purchasers without charge in such quantities as they may reasonably
request.

     

    (e) Without
the prior written consent of the Representatives, the Company has not given and
will not give to any prospective purchaser of the Securities any Written
Information other than materials contained in the Disclosure Package, the Final
Memorandum or any other offering materials prepared by or with the prior written
consent of the Representatives.

     

    (f) The
Company will arrange, if necessary, for the qualification of the Securities for
sale by the Initial Purchasers under the laws of such jurisdictions as the
Representatives may reasonably designate (including Japan and certain provinces
of Canada) and will maintain such qualifications in effect so long as reasonably
required for the sale of the Securities; provided that in no
event shall the Company be obligated to qualify to do business in any
jurisdiction where it is not now so qualified or to take any action that would
subject it to service of process in suits in any jurisdiction where it is not
now so subject.  The Company will promptly advise the Representatives
of the receipt by the Company of any notification with respect to the suspension
of the qualification of the Securities for sale in any jurisdiction or the
initiation or threatening of any proceeding for such purpose.

     

    (g) During
the period of two years following the Closing Date, the Company will not, and
will not permit any of its Affiliates to, resell any Securities that have been
acquired by any of them.

     

    (h) None of
the Company, its Affiliates, or any person acting on their behalf will, directly
or indirectly, make offers or sales of any security, or solicit offers to buy
any security, under circumstances that would require the registration of the
Securities under the Act.

     

    (i) None of
the Company, its Affiliates, or any person acting on their behalf will engage in
any directed selling efforts (within the meaning of Regulation S) with respect
to the Securities.

     

    (j) None of
the Company, its Affiliates, or any person acting on their behalf will engage in
any form of general solicitation or general advertising (within the meaning of
Regulation D) in connection with any offer or sale of the Securities in the
United States.

     

    (k) For so
long as any of the Securities are outstanding and are “restricted securities”
within the meaning of Rule 144(a)(3) under the Act, the Company, during any period in
which it is not subject to and in compliance with Section 13 or 15(d) of the
Exchange Act or it is not exempt from such reporting requirements pursuant to
and in compliance with Rule 12g3-2(b) under the Exchange Act, will provide to
each holder of such restricted securities and to each prospective purchaser (as
designated by such holder) of such restricted securities, upon the request of
such holder or prospective purchaser, any information required to be provided by
Rule 144A(d)(4) under the Act.  This covenant is intended to be for
the benefit of the holders, and the prospective purchasers designated by such
holders, from time to time of such restricted securities.

     

    (l) The
Company will cooperate with the Representatives and use their commercially
reasonable efforts to permit the Securities to be eligible for clearance and
settlement through The Depository Trust Company.

     

    (m) Each of
the Securities will bear, to the extent applicable, the legend contained in
“Notice to Investors” in the Preliminary Memorandum and the Final Memorandum for
the time period and upon the other terms stated therein.

     

    (n) The
Company will not take, directly or indirectly, any action that has constituted,
or that is designed to or that might reasonably be expected to cause or result
in, under the Exchange Act or otherwise, the stabilization or manipulation of
the price of any security of the Company to facilitate the sale or resale of the
Securities.

     

    (o) The
Company will, for a period of twelve months following the Execution Time,
furnish to the Representatives (i) all reports or other communications
(financial or other) generally made available to the unitholders of Boardwalk
Pipelines Partners, LP, and deliver such reports and communications to the
Representatives as soon as they are available, unless such documents are
furnished to or filed with the Commission or any securities exchange on which
any class of securities of the Company is listed and generally made available to
the public, and (ii) such additional information concerning the business
and financial condition of the Company as the Representatives may from time to
time reasonably request.

     

    (p) The
Company will comply with all applicable securities and other laws, rules and
regulations, and use its best efforts to cause the Company’s directors and
officers, in their capacities as such, to comply with such laws, rules and
regulations.

     

    (q) The
Company agrees to pay the costs and expenses relating to the following
matters:  (i) the issuance of the Securities and the fees of the
Trustee; (ii) the preparation, printing or reproduction of the Disclosure
Package, the Final Memorandum, each amendment or supplement thereto, and the
materials contained therein; (iii) the printing (or reproduction) and delivery
(including postage, air freight charges and charges for counting and packaging)
of such copies of the Disclosure Package, the Final Memorandum, each amendment
or supplement thereto, and the materials contained therein, as may, in each
case, be reasonably requested for use in connection with the offering and sale
of the Securities; (iv) the authentication, issuance and delivery of the
Securities; (v) any stamp or transfer taxes in connection with the original
issuance and sale of the Securities; (vi) the preparation and delivery of any
blue sky memorandum; (vii) any registration or qualification of the Securities
for offer and sale under the securities or blue sky laws of the several states,
Japan, the provinces of Canada and any other jurisdictions specified pursuant to
Section 5(f) (including filing fees and the reasonable fees and expenses of
counsel for the Initial Purchasers relating to such registration and
qualification); (viii) the transportation and other expenses incurred by or on
behalf of Company representatives in connection with presentations to
prospective purchasers of the Securities; (ix) the fees and expenses of the
Company’s accountants and the fees and expenses of counsel (including local and
special counsel) for the Company; and (x) all other costs and expenses incident
to the performance by the Company of its obligations hereunder; provided that, except
as provided in this Section 5 and in Section 7 hereof, the Initial Purchasers
shall pay their own costs and expenses, including the costs and expenses of
their counsel, any transfer taxes on the Securities that they may sell and the
expenses of advertising any offering of the Securities made by the Initial
Purchasers.

     

    6. Conditions to the
Obligations of the Initial Purchasers.  The obligations of the
Initial Purchasers to purchase the Securities shall be subject to the accuracy
of the representations and warranties of the Company contained herein at the
Execution Time and on the Closing Date, to the accuracy of the statements of the
Company made in any certificates pursuant to the provisions hereof, to the
performance by the Company of its obligations hereunder and to the following
additional conditions:

     

    (a) The
Company shall have requested and caused Vinson & Elkins L.L.P., counsel for
the Company, to furnish to the Representatives its opinion, dated the Closing
Date and addressed to the Representatives, to the effect that:

     

    (i) Assuming
the accuracy of the representations and warranties and compliance with the
agreements contained herein (without regard to the representation found in
Section 1(g)), no registration under the Act of the Securities is required for
the sale and delivery of the Securities by the Company to the Initial Purchasers
or the offer and sale by the Initial Purchasers of the Securities solely in the
manner contemplated herein, in the Disclosure Package and in the Final
Memorandum and no qualification of an indenture under the Trust Indenture Act is
required; provided, however, that such
counsel expresses no opinion as to any subsequent resale of any
Security;

     

    (ii)  The
Company has been duly formed and is validly existing and in good standing as a
limited liability company under the Delaware LLC Act, has the full limited
liability company power and authority necessary to own or hold its properties
and assets and to conduct the businesses in which it is engaged, and is duly
registered or qualified to do business and is in good standing as a foreign
limited liability company in each jurisdiction listed opposite its name in
Schedule II hereto;

     

    (iii) The
Operating Partnership owns a 100% limited liability company interest in the
Company; such limited liability company interest has been duly and validly
authorized and issued in accordance with the LLC Agreement and is fully paid (to
the extent required under the LLC Agreement) and non-assessable (except as such
non-assessability may be affected by Sections 18-607 and 18-804 of the Delaware
LLC Act); and the Operating Partnership owns such limited liability company
interest free and clear of all Liens (except restrictions on transferability
contained in the LLC Agreement, as described in the Preliminary Memorandum or
created or arising under the Delaware LLC Act) (i) in respect of which a
financing statement under the Uniform Commercial Code of the State of Delaware
naming the Operating Partnership as debtor is on file with the Secretary of
State of the State of Delaware or (ii) otherwise known to such counsel, without
independent investigation, other than those created by or arising under the
Delaware LLC Act or the LLC Agreement;

     

    (iv) The
Purchase Agreement has been duly and validly authorized, executed and delivered
by the Company;

     

    (v) Each
Indenture has been duly and validly authorized, executed and delivered by the
Company and (assuming the due authorization, execution and delivery thereof by
the Trustee) constitutes a valid and binding agreement of the Company,
enforceable against the Company in accordance with its terms, except as the
enforcement thereof may be limited by bankruptcy, insolvency (including, without
limitation, all laws relating to fraudulent transfers), reorganization,
moratorium or similar laws affecting enforcement of creditors’ rights generally
and except as enforcement thereof is subject to general principles of equity
(regardless of whether enforcement is considered in a proceeding in equity or at
law) and an implied covenant of good faith and fair dealing;

     

    (vi) The
Securities have been duly and validly authorized by the Company and, assuming
that the Securities have been duly authenticated by the Trustee in the manner
described in its certificate delivered to you today (which fact such counsel
need not determine by an inspection of the Securities) and have been delivered
against payment of the purchase price therefor as provided in the Purchase
Agreement, have been duly executed, issued and delivered by the Company and
constitute valid and binding obligations of the Company, enforceable against the
Company in accordance with their terms, except as the enforcement thereof may be
limited by bankruptcy, insolvency (including, without limitation, all laws
relating to fraudulent transfers), reorganization, moratorium or similar laws
affecting enforcement of creditors’ rights generally and except as enforcement
thereof is subject to general principles of equity (regardless of whether
enforcement is considered in a proceeding in equity or at law) and an implied
covenant of good faith and fair dealing, and will be in the form contemplated
by, and entitled to the benefits of, the Indenture;

     

    (vii) None of
the offering, issuance and sale by the Company of the Securities, the execution,
delivery and performance of the Purchase Agreement, the Indenture and the
Securities by the Company , or the consummation of the transactions contemplated
thereby (i) constitutes or will constitute a violation of
the  certificate of formation, the LLC Agreement or other
organizational documents of the Company, (ii) constitutes or will constitute a
breach or violation of or a default under (or an event that, with notice or
lapse of time or both, would constitute such a breach or violation of or default
under), any agreement filed as an exhibit to Boardwalk Pipeline Partners, LP’s
Form 10-K for the year ended December 31, 2007 or any subsequent reports filed
by Boardwalk Pipeline Partners, LP under the Exchange Act or (iii) violates or
will violate any applicable law of the United States of America or the State of
New York or the Delaware LLC Act, excluding in the case of clauses (ii) and
(iii) any such breaches, violations and defaults that would not have a Material
Adverse Effect;

     

    (viii) No
Governmental Approval is required for the execution, delivery and performance of
the Purchase Agreement, the Indenture and the Securities by the Company, the
consummation of the transactions contemplated thereby and the application of the
proceeds from the sale of the Securities as described under the caption “Use of
Proceeds” in each of the Preliminary Memorandum and the Final Memorandum, except
for such Governmental Approvals (i) as have been obtained or made or (ii) would
not have a Material Adverse Effect if not obtained or made;

     

    (ix) The
statements set forth in each of the Preliminary Memorandum and the Final
Memorandum under the caption “Description of the Notes,” insofar as they purport
to constitute a summary of the terms of the Indenture and the Securities or a
summary of certain provisions of documents referred to therein, and under the
caption “Certain United States Federal Tax Consequences,” insofar as they
purport to summarize the laws referred to therein, are accurate summaries in all
material respects, subject to the qualifications and assumptions therein; and
the Securities and the Indenture conform in all material respects to the
descriptions thereof contained in the Preliminary Memorandum and the Final
Memorandum under the caption “Description of the Notes;” and

     

    (x) The
Company is not, and after giving effect to the application of the net proceeds
from the offering as described under the caption “Use of Proceeds” in each of
the Preliminary Memorandum and the Final Memorandum, the Company will not be, an
“investment company” as defined in the Investment Company Act.

     

    In
rendering such opinion, such counsel may state that its opinion is limited to
matters governed by the federal laws of the United States of America, the laws
of the State of New York and the Delaware LLC Act.  Such counsel need
not express any opinion with respect to the title of the Company to any of its
respective real or personal property, and need not express any opinion with
respect to state or local taxes or tax statutes to which the Company may be
subject.

     

    In
addition, such counsel shall state that it has participated in conferences with
officers and other representatives of the Company, representatives of the
independent registered public accounting firm of the Company and representatives
of the Initial Purchasers, at which the contents of the Disclosure Package and
the Final Memorandum and related matters were discussed, and although such
counsel did not independently investigate or verify the information set forth in
the Disclosure Package and the Final Memorandum, and such counsel is not passing
upon and does not assume any responsibility for, the accuracy, completeness or
fairness of the statements contained in the Disclosure Package and the Final
Memorandum (except to the extent specified in paragraph (x) above), based on the
foregoing (relying as to factual matters in respect of the determination of
materiality to the extent such counsel deems reasonable and appropriate upon the
statements of fact made by officers and other representatives of the Company),
no facts have come to such counsel’s attention that have led such counsel to
believe that:

     

    (A)           the
Final Memorandum, as of its date and as of the Closing Date, contained or
contains any untrue statement of a material fact or omitted or omits to state
any material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading;
or

     

    (B)           the
Disclosure Package, as of the Execution Time, contained any untrue statement of
a material fact or omitted to state any material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were
made, not misleading;

     

    except
that in each case such counsel need express no opinion with respect to the
financial statements and notes and schedules thereto or other related financial,
accounting and statistical data contained in or omitted from the Disclosure
Package or the Final Memorandum or any further amendment or supplement
thereto.

     

    “Applicable
Law” means those laws, rules and regulations that, in such counsel’s experience,
are normally applicable to transactions of the type contemplated by the Purchase
Agreement, the Indenture and the Securities without such counsel’s having made
any special investigation as to the applicability of any specific law, rule or
regulation, and that are not the subject of a specific opinion herein referring
expressly to a particular law or laws; provided however, that such references do
not include any municipal or other local laws, rules or regulations, any
antifraud, environmental, labor, tax, state securities or Blue Sky, insurance or
antitrust laws, rules or regulations, the Natural Gas Act, as amended, the rules
and regulations promulgated thereunder by the Federal Energy Regulatory
Commission, and the rules and regulations of the National Association of
Securities Dealers, Inc.

     

    “Governmental
Approval” means any consent, approval, license, authorization or validation of,
or filing, recording or registration with, any executive, legislative, judicial,
administrative or regulatory authority of the State of New York, the State of
Delaware or the United States of America, pursuant to (a) applicable laws of the
State of New York,  (b) applicable laws of the United States of
America or (c) the Delaware LLC Act.

     

    (b) The
Company shall have requested and caused Michael E. McMahon, General Counsel for
the Company, to furnish to the Representatives his opinion, dated the Closing
Date and addressed to the Representatives, to the effect that:

     

    (i) Except as
described in the Disclosure Package, there are no legal or governmental
proceedings pending to which the Company is a party or to which any property or
asset of the Company is subject that, if determined adversely to the Company,
could reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect or an adverse effect on the performance of the Purchase
Agreement or the consummation of the transactions contemplated thereby, and, to
his knowledge, no such proceedings are threatened or contemplated by
governmental authorities or others; and to his knowledge, there are no statutes
or pending or threatened legal or governmental proceedings that would be
required by the Act to be described in the Preliminary Memorandum and the Final
Memorandum, if the Preliminary Memorandum and the Final Memorandum were
prospectuses included in a registration statement on Form S-1 filed with the
Commission, that are not so described;

     

    (ii) The
statements made in each of the Preliminary Memorandum and the Final Memorandum
under the captions “Risk Factors—Risks Related to Our Business—Our natural gas
transportation, gathering and storage operations are subject to FERC rate-making
policies that could have an adverse impact on our ability to establish rates
that would allow us to recover the full cost of operating our pipelines
including a reasonable return and our ability to service our debt,” “Risk
Factors— Risks Related to Our Business—Our natural gas transportation and
storage operations are subject to extensive regulation by FERC in addition to
FERC rules and regulations related to the rates we can charge for our services,”
“Risk Factors— Risks Related to Our Business—We are subject to laws and
regulations relating to the environment which may expose us to significant
costs, liabilities and loss of revenues. Any change in such regulations or their
applications could negatively affect our results of operations,” “Risk Factors—
Risks Related to Our Business—Pipeline safety integrity programs and repairs may
impose significant costs and liabilities on us,” “Risk Factors— Risks Related to
Our Business—We are subject to strict regulations at many of our facilities
regarding employee safety, and failure to comply with these regulations could
adversely affect our financial condition,” and “Business—Regulatory and
Environmental,” insofar as they refer to statements of law or legal conclusions,
fairly summarize the matters referred to therein in all material respects,
subject to the qualifications and assumptions therein; and

     

    (iii) None of
the offering, issuance and sale by the Company of the Securities and the
application of the proceeds therefrom as described under the caption “Use of
Proceeds” in the Preliminary Memorandum and the Final Memorandum, the execution,
delivery and performance of the Purchase Agreement, the Indenture and the
Securities by the Company, or the consummation of the transactions contemplated
thereby violates or will violate the Natural Gas Act, as amended, or the rules
and regulations promulgated thereunder by the Federal Energy Regulatory
Commission.

     

    In
addition, he shall state that he has participated in conferences with officers
and other representatives of the Company, representatives of the independent
registered public accounting firm of the Company and representatives of the
Initial Purchasers, at which the contents of the Disclosure Package and Final
Memorandum and related matters were discussed, and although he did not
independently investigate or verify the information set forth in the Disclosure
Package and Final Memorandum, and he is not passing upon and does not assume any
responsibility for the accuracy, completeness or fairness of the statements
contained in the Disclosure Package and Final Memorandum (except to the extent
specified in paragraphs (i) and (ii) above), based on the foregoing (relying as
to factual matters in respect of the determination of materiality to the extent
he deems reasonable and appropriate upon the statements of fact made by officers
and other representatives of the Company), no facts have come to his attention
that have led such counsel to believe that:

     

    (A)           the
Final Memorandum, as of its date and as of the Closing Date, contained or
contains any untrue statement of a material fact or omitted or omits to state
any material fact necessary in order to make the statements therein, in light of
the circumstances under which they were made, not misleading; or

     

    (B)           the
Disclosure Package, as of the Execution Time, contained any untrue statement of
a material fact or omitted to state any material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were
made, not misleading;

     

    except
that in each case he need express no opinion with respect to the financial
statements and notes and schedules thereto or other related financial,
accounting and statistical data contained in or omitted from the Disclosure
Package or the Final Memorandum or any further amendment or supplement
thereto.

     

    (c) The
Representatives shall have received from Andrews Kurth LLP, counsel for the
Initial Purchasers, such opinion or opinions, dated the Closing Date and
addressed to the Representatives, with respect to the issuance and sale of the
Securities, the Indenture, the Disclosure Package, the Final Memorandum (as
amended or supplemented at the Closing Date) and other related matters as the
Representatives may reasonably require, and the Company shall have furnished to
such counsel such documents as they request for the purpose of enabling them to
pass upon such matters.

     

    (d) The
Company shall have furnished to the Representatives a certificate of the
Company, signed by (x) the President of the Company and (y) the principal
financial or accounting officer of the Company, dated the Closing Date, to the
effect that the signers of such certificate have carefully examined the
Disclosure Package and the Final Memorandum, any supplements or amendments
thereto, and this Agreement and that:

     

    (i) the
representations and warranties of the Company in this Agreement are true and
correct on and as of the Closing Date with the same effect as if made on the
Closing Date, and the Company has complied with all the agreements and satisfied
all the conditions on its part to be performed or satisfied hereunder at or
prior to the Closing Date; and

     

    (ii) since the
date of the most recent financial statements included in the Disclosure
Package and the Final Memorandum (exclusive of any amendment or supplement
thereto), there has been no material adverse change in the condition (financial
or otherwise), prospects, earnings, business or properties of the Company,
whether or not arising from transactions in the ordinary course of business,
except as set forth in or contemplated in the Disclosure Package and the Final
Memorandum (exclusive of any amendment or supplement thereto).

     

    (e) At the
Execution Time and on the Closing Date, the Company shall have requested and
caused Deloitte & Touche LLP to furnish to the Representatives letters,
dated as of the Execution Time and as of the Closing Date, respectively, in form
and substance satisfactory to the Representatives and confirming that they are
independent certified public accountants with respect to the Company under Rule
101 of the AICPA’s Code of Professional Conduct and its interpretations and
rulings and stating in effect that:

     

    (i) on the
basis of a reading of the latest unaudited financial statements made available
by the Company; carrying out certain specified procedures (but not an
examination in accordance with generally accepted auditing standards) which
would not necessarily reveal matters of significance with respect to the
comments set forth in such letter; a reading of the minutes of the meetings of
the members, board of directors and committees of the board of directors of the
Company; and inquiries of certain officials of the Company who have
responsibility for financial and accounting matters of the Company as to
transactions and events subsequent to December 31, 2007, nothing came to their
attention which caused them to believe that:

     

    (A) any
unaudited financial statements included in the Preliminary Memorandum or the
Final Memorandum do not comply as to form with generally accepted accounting
principles applied on a basis substantially consistent with that of the audited
financial statements included in the Preliminary
Memorandum and the Final Memorandum; or

     

    (B) with
respect to the period subsequent to December 31, 2007, there were, at a
specified date not more than five days prior to the date of the letter, any
changes in the long-term debt of the Company or decreases in net current assets
or total members’ capital of the Company as compared with the amounts shown on
the December 31, 2007 balance sheet included in the Preliminary Memorandum and
the Final Memorandum, or for the period from January 1, 2008 to such specified
date there were any decreases, as compared with the corresponding period in the
preceding year, in
revenues, operating income or net income of the Company, except in all instances
for changes or decreases set forth in such letter, in which case the letter
shall be accompanied by an explanation by the Company as to the significance
thereof unless said explanation is not deemed necessary by the Representatives;
and

     

    (ii) they have
performed certain other specified procedures as a result of which they
determined that certain information of an accounting, financial or statistical
nature (which is limited to accounting, financial or statistical information
derived from the general accounting records of the Company) set forth in the
Preliminary Memorandum and the Final Memorandum, including the information set
forth under the captions “Summary Historical Financial and Operating Data” and
“Management’s Discussion and Analysis of Results of Operation and Financial
Condition” in the Preliminary Memorandum and the Final Memorandum, agrees with
the accounting records of the Company, excluding any questions of legal
interpretation.

     

    (f) Subsequent
to the Execution Time or, if earlier, the date of the most recent financial
statements included in the Disclosure Package (exclusive of any amendment or
supplement thereto) and the Final Memorandum (exclusive of any amendment or
supplement thereto), there shall not have been (i) any change or decrease
specified in the letter or letters referred to in paragraph (e) of this Section
6; or (ii) any adverse change, or any development involving a prospective
adverse change, in or affecting the condition (financial or otherwise),
prospects, earnings, business or properties of the Company, whether or not
arising from transactions in the ordinary course of business, except as set
forth in or contemplated in the Disclosure Package and the Final Memorandum
(exclusive of any amendment or supplement thereto), the effect of which, in any
case referred to in clause (i) or (ii) above, is, in the judgment of the
Representatives, so material and adverse as to make it impracticable or
inadvisable to proceed with the offering or delivery of the Securities as
contemplated in the Disclosure Package and the Final Memorandum (exclusive of
any amendment or supplement thereto).

     

    (g) The
Securities shall be eligible for clearance and settlement through The Depository
Trust Company.

     

    (h) Subsequent
to the Execution Time, there shall not have been any downgrading in the rating
of any debt securities of the Company or any of its Affiliates by any
“nationally recognized statistical rating organization” (as defined for purposes
of Rule 436(g) under the Act) or any notice given of any intended or
potential decrease in any such rating or of a possible change in any such rating
that does not indicate the direction of the possible change.

     

    (i) Prior to
the Closing Date, the Company shall have furnished to the Representatives such
further information, certificates and documents as the Representatives may
reasonably request.

     

    If any of
the conditions specified in this Section 6 shall not have been fulfilled in
all material respects when and as provided in this Agreement, or if any of the
opinions and certificates mentioned above or elsewhere in this Agreement shall
not be in all material respects reasonably satisfactory in form and substance to
the Representatives and counsel for the Initial Purchasers, this Agreement and
all obligations of the Initial Purchasers hereunder may be cancelled at, or at
any time prior to, the Closing Date by the Representatives.  Notice of
such cancellation shall be given to the Company in writing or by telephone or
facsimile confirmed in writing.

     

    The
documents required to be delivered by this Section 6 will be delivered at
the office of counsel for the Initial Purchasers, at 450 Lexington Ave., 15th Floor,
New York, New York 10017, on the Closing Date.

     

    7. Reimbursement of
Expenses.  If the sale of the Securities provided for herein is
not consummated because any condition to the obligations of the Initial
Purchasers set forth in Section 6 hereof is not satisfied or because of any
refusal, inability or failure on the part of the Company to perform any
agreement herein or comply with any provision hereof other than by reason of a
default by any of the Initial Purchasers, the Company will reimburse the Initial
Purchasers severally through J. P. Morgan Securities Inc. on demand for all
out-of-pocket expenses (including reasonable fees and disbursements of counsel)
that shall have been incurred by them in connection with the proposed purchase
and sale of the Securities.

     

    8. Indemnification and
Contribution.

     

    (a) The
Company agrees to indemnify and hold harmless each Initial Purchaser, its
Affiliates, directors and officers and each person, if any, who controls such
Initial Purchaser within the meaning of Section 15 of the Act or Section 20 of
the Exchange Act, from and against any and all losses, claims, damages and
liabilities (including, without limitation, legal fees and other expenses
incurred in connection with any suit, action or proceeding or any claim
asserted, as such fees and expenses are incurred), joint or several, that arise
out of, or are based upon, any untrue statement or alleged untrue statement of a
material fact contained in the Preliminary Memorandum, the Final Memorandum, any
Issuer Written Information or any other written information used by or on behalf
of the Company in connection with the offer or sale of the Securities (or any
amendment or supplement thereto) or any omission or alleged omission to state
therein a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading, in
each case except insofar as such losses, claims, damages or liabilities arise
out of, or are based upon, any untrue statement or omission or alleged untrue
statement or omission made in reliance upon and in conformity with any
information furnished to the Company in writing by such Initial Purchaser
through the Representatives expressly for use therein.

     

    (b) Each
Initial Purchaser agrees, severally and not jointly, to indemnify and hold
harmless the Company, its directors and officers and each person, if any, who
controls the Company within the meaning of Section 15 of the Act or Section 20
of the Exchange Act to the same extent as the indemnity set forth in paragraph
(a) above, but only with respect to any losses, claims, damages or liabilities
that arise out of, or are based upon, any untrue statement or omission or
alleged untrue statement or omission made in reliance upon and in conformity
with any information furnished to the Company in writing by such Initial
Purchaser through the Representatives expressly for use in the Preliminary
Memorandum, the Final Memorandum, any Issuer Written Information or any other
written information used by or on behalf of the Company in connection with the
offer or sale of the Securities (or any amendment or supplement thereto), it
being understood and agreed that:  (i) the last paragraph of the cover
page of the Preliminary Memorandum and the Final Memorandum (regarding delivery
of the Securities) and (ii) (A) the
table of Initial Purchasers (including the principal amount of Securities to be
purchased by such Initial Purchasers) and (B) the 7th and 8th paragraphs
(related to stabilization and syndicate covering transactions), in each case
appearing under the heading “Plan of Distribution” in the Preliminary Memorandum
and the Final Memorandum, constitute the only information furnished in writing
by or on behalf of the Initial Purchasers for inclusion in the Preliminary
Memorandum or the Final Memorandum.

     

    (c) If any
suit, action, proceeding (including any governmental or regulatory
investigation), claim or demand shall be brought or asserted against any person
in respect of which indemnification may be sought pursuant to either paragraph
(a) or (b) above, such person (the “Indemnified Person”) shall promptly notify
the person against whom such indemnification may be sought (the “Indemnifying
Person”) in writing; provided that the
failure to notify the Indemnifying Person shall not relieve it from any
liability that it may have under this Section 8 except to the extent that it has
been materially prejudiced (through the forfeiture of substantive rights or
defenses) by such failure; and provided, further, that the
failure to notify the Indemnifying Person shall not relieve it from any
liability that it may have to an Indemnified Person otherwise than under this
Section 8.  If any such proceeding shall be brought or asserted
against an Indemnified Person and it shall have notified the Indemnifying Person
thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to
the Indemnified Person (who shall not, without the consent of the Indemnified
Person, be counsel to the Indemnifying Person) to represent the Indemnified
Person and any others entitled to indemnification pursuant to this Section 8
that the Indemnifying Person may designate in such proceeding and shall pay the
fees and expenses of such proceeding and shall pay the fees and expenses of such
counsel related to such proceeding, as incurred.  In any such
proceeding, any Indemnified Person shall have the right to retain its own
counsel, but the fees and expenses of such counsel shall be at the expense of
such Indemnified Person unless (i) the Indemnifying Person and the Indemnified
Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person
has failed within a reasonable time to retain counsel reasonably satisfactory to
the Indemnified Person; (iii) the Indemnified Person shall have reasonably
concluded that there may be legal defenses available to it that are different
from or in addition to those available to the Indemnifying Person; or (iv) the
named parties in any such proceeding (including any impleaded parties) include
both the Indemnifying Person and the Indemnified Person and representation of
both parties by the same counsel would be inappropriate due to actual or
potential differing interests between them.  It is understood and
agreed that the Indemnifying Person shall not, in connection with any proceeding
or related proceeding in the same jurisdiction, be liable for the fees and
expenses of more than one separate firm (in addition to any local counsel) for
all Indemnified Persons, and that all such fees and expenses shall be reimbursed
as they are incurred.  Any such separate firm for any Initial
Purchaser, its Affiliates, directors and officers and any control persons of
such Initial Purchaser shall be designated in writing by J.P. Morgan Securities
Inc. and any such separate firm for the Company, its directors and officers and
any control persons of the Company shall be designated in writing by the
Company. No Indemnifying Person shall, without the written consent of the
Indemnified Person, effect any settlement of any pending or threatened
proceeding in respect of which any Indemnified Person is or could have been a
party and indemnification could have been sought hereunder by such Indemnified
Person, unless such settlement (x) includes an unconditional release of such
Indemnified Person, in form and substance reasonably satisfactory to such
Indemnified Person, from all liability on claims that are the subject matter of
such proceeding and (y) does not include any statement as to or any admission of
fault, culpability or a failure to act by or on behalf of any Indemnified
Person.  The Indemnifying Person shall not be liable for any
settlement of any proceeding effected without its written consent (such consent
not to be unreasonably withheld), but if settled with the consent of the
Indemnifying Person or if there be a final judgment for the plaintiff in any
such proceeding, the Indemnifying Person agrees to indemnify and hold harmless
any indemnified party from and against any loss or liability by reason of such
settlement or judgment. 

     

    (d) If the
indemnification provided for in paragraphs (a) and (b) above is unavailable to
an Indemnified Person or insufficient in respect of any losses, claims, damages
or liabilities referred to therein, then each Indemnifying Person under such
paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall
contribute to the amount paid or payable by such Indemnified Person as a result
of such losses, claims, damages or liabilities (i) in such proportion as is
appropriate to reflect the relative benefits received by the Company on the one
hand and the Initial Purchasers on the other from the offering of the Securities
or (ii) if the allocation provided by clause (i) is not permitted by applicable
law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) but also the relative fault of the Company on
the one hand and the Initial Purchasers on the other in connection with the
statements or omissions that resulted in such losses, claims, damages or
liabilities, as well as any other relevant equitable
considerations.  The relative benefits received by the Company on the
one hand and the Initial Purchasers on the other shall be deemed to be in the
same respective proportions as the net proceeds (before deducting expenses)
received by the Company from the sale of the Securities and the total discounts
and commissions received by the Initial Purchasers in connection therewith, as
provided in this Agreement, bear to the aggregate offering price of the
Securities.  The relative fault of the Company on the one hand and the
Initial Purchasers on the other shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by the Company or by the Initial Purchasers and the parties' relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.

     

    (e) The
Company and the
Initial Purchasers agree that it would not be just and equitable if contribution
pursuant to this Section 8 were determined by pro rata allocation (even
if the Initial Purchasers were treated as one entity for such purpose) or by any
other method of allocation that does not take account of the equitable
considerations referred to in paragraph (d) above.  The amount paid or
payable by an Indemnified Person as a result of the losses, claims, damages and
liabilities referred to in paragraph (d) above shall be deemed to include,
subject to the limitations set forth above, any legal or other expenses incurred
by such Indemnified Person in connection with any such action or
claim.  Notwithstanding the provisions of this Section 8, in no event
shall an Initial Purchaser be required to contribute any amount in excess of the
amount by which the total discounts and commissions received by such Initial
Purchaser with respect to the offering of the Securities exceeds the amount of
any damages that such Initial Purchaser has otherwise been required to pay by
reason of such untrue or alleged untrue statement or omission or alleged
omission.  No person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent
misrepresentation.  The Initial Purchasers' obligations to contribute
pursuant to this Section 8 are several in proportion to their respective
purchase obligations hereunder and not joint.

     

    (f) The
remedies provided for in this Section 8 are not exclusive and shall not limit
any rights or remedies that may otherwise be available to any Indemnified Person
at law or in equity.

     

    9. Default by an Initial
Purchaser.  If any one or more Initial Purchasers shall fail to
purchase and pay for any of the Securities agreed to be purchased by such
Initial Purchaser(s) hereunder and such failure to purchase shall constitute a
default in the performance of its or their obligations under this Agreement, the
remaining Initial Purchaser(s) shall be obligated severally to take up and pay
for (in the respective proportions which the principal amount of Securities set
forth opposite their names in Schedule I hereto bears to the aggregate
principal amount of Securities set forth opposite the names of all the remaining
Initial Purchaser(s)) the Securities which the defaulting Initial Purchaser(s)
agreed but failed to purchase; provided, however, that in the
event that the aggregate principal amount of Securities which the defaulting
Initial Purchaser(s) agreed but failed to purchase shall exceed 10% of the
aggregate principal amount of Securities set forth in Schedule I hereto,
the remaining Initial Purchaser(s) shall have the right to purchase all, but
shall not be under any obligation to purchase any, of the Securities, and if
such nondefaulting Initial Purchaser(s) does or do not purchase all the
Securities, this Agreement will terminate without liability to any nondefaulting
Initial Purchaser(s) or the Company.  In the event of a default by any
Initial Purchaser as set forth in this Section 9, the Closing Date shall be
postponed for such period, not exceeding five Business Days, as the
Representatives shall determine in order that the required changes in the Final
Memorandum or in any other documents or arrangements may be
effected.  Nothing contained in this Agreement shall relieve any
defaulting Initial Purchaser of its liability, if any, to the Company or any
nondefaulting Initial Purchaser for damages occasioned by its default
hereunder.

     

    10. Termination.  This
Agreement shall be subject to termination in the absolute discretion of the
Representatives, by notice given to the Company prior to delivery of and payment
for the Securities, if at any time prior to such time (i) trading in
securities generally on the New York Stock Exchange, the American Stock Exchange
or the Nasdaq Stock Market shall have been suspended or limited or minimum
prices shall have been established on such exchange; (ii) a banking
moratorium shall have been declared either by U.S. federal or New York State
authorities; or
(iii) there shall have occurred any outbreak or escalation of hostilities,
declaration by the United States of a national emergency or war or other
calamity or crisis the effect of which on financial markets is such as to make
it, in the judgment of the Representatives, impracticable or inadvisable to
proceed with the offering or delivery of the Securities as contemplated in the
Disclosure Package and the Final Memorandum (exclusive of any amendment or
supplement thereto).

     

    11. Representations and
Indemnities to Survive.  The respective agreements,
representations, warranties, indemnities and other statements of the Company or
its officers and of the Initial Purchasers set forth in or made pursuant to this
Agreement will remain in full force and effect, regardless of any investigation
made by or on behalf of the Initial Purchasers or the Company or any of the
indemnified persons referred to in Section 8 hereof, and will survive
delivery of and payment for the Securities.  The provisions of
Sections 7 and 8 hereof shall survive the termination or cancellation of
this Agreement.

     

    12. Notices.  All
communications hereunder will be in writing and effective only on receipt, and,
if sent to the Representatives, will be mailed, delivered or telefaxed to Credit
Suisse Securities (USA) LLC, Eleven Madison Avenue,
New York, New York 10010, (fax: 212-325-4296) Attention: LCD-IBD, J.P. Morgan
Securities Inc., 270 Park Avenue, New
York, New York 10017 (phone: 212-834-4533, fax: 212-834-6081); Attention: High
Grade Syndicate Desk, and Wachovia Capital Markets, LLC, 301 South College
Street, NC 0613, Charlotte, NC 28288 (fax: 704-383-0661), Attention: Steven J.
Taylor, Managing Director; or, if sent to the Company, will be mailed, delivered
or telefaxed to (270)683-5657 and confirmed to it at
the Company’s address set forth in the Final Memorandum, attention of the Chief
Financial Officer.

     

    13. Successors.  This
Agreement will inure to the benefit of and be binding upon the parties hereto
and their respective successors and the indemnified persons referred to in
Section 8 hereof and their respective successors, and, except as expressly
set forth in Section 5(k) hereof, no other person will have any right or
obligation hereunder.

     

    14. Jurisdiction.  The
Company hereby submits to the non-exclusive jurisdiction of the Federal and
state courts in the Borough of Manhattan in The City of New York in any suit or
proceeding arising out of or relating to this Agreement or the transactions
contemplated hereby.

     

    15. Integration.  This
Agreement supersedes all prior agreements and understandings (whether written or
oral) between the Company and the Initial Purchasers, or any of them, with
respect to the subject matter hereof.

     

    16. Applicable
Law.  This Agreement will be governed by and construed in
accordance with the laws of the State of New York.

     

    17. Waiver of Jury
Trial.  The Company hereby irrevocably waives, to the fullest
extent permitted by applicable law, any and all right to trial by jury in any
legal proceeding arising out of or relating to this Agreement or the
transactions contemplated hereby.

     

    18. No Fiduciary
Duty.  The Company hereby acknowledges that (a) the purchase
and sale of the Securities pursuant to this Agreement is an arm’s-length
commercial transaction between the Company, on the one hand, and the Initial
Purchasers and any Affiliate through which it may be acting, on the other, (b)
the Initial Purchasers are acting as principal and not as an agent or fiduciary
of the Company and (c) the Company’s engagement of the Initial Purchasers in
connection with the
offering and the process leading up to the offering is as independent
contractors and not in any other capacity. Furthermore, the Company agrees that
it is solely responsible for making its own judgments in connection with the
offering (irrespective of whether any of the Initial Purchasers has advised or
is currently advising the Company on related or other matters).  The
Company agrees that it will not claim that the Initial Purchasers have rendered
advisory services of any nature or respect, or owe an agency, fiduciary or
similar duty to the Company, in connection with such transaction or the process
leading thereto.

     

    19. Counterparts.  This
Agreement may be signed in one or more counterparts, each of which shall
constitute an original and all of which together shall constitute one and the
same agreement.

     

    20. Headings.  The
section headings used herein are for convenience only and shall not affect the
construction hereof.

     

    21. Definitions.  The
terms that follow, when used in this Agreement, shall have the meanings
indicated.

     

    “Act”
shall mean the Securities Act of 1933, as amended, and the rules and regulations
of the Commission promulgated thereunder.

     

    “Affiliate”
shall have the meaning specified in Rule 501(b) of
Regulation D.

     

    “Agreement”
shall mean this Purchase Agreement.

     

    “Business
Day” shall mean any day other than a Saturday, a Sunday or a legal holiday or a
day on which banking institutions or trust companies are authorized or obligated
by law to close in The City of New York.

     

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

     

    “Commission”
shall mean the Securities and Exchange Commission.

     

    “Disclosure
Package” shall mean (i) the Preliminary Memorandum, as amended or supplemented
at the Execution Time, (ii) the final term sheet prepared pursuant to Section
5(b) hereto and in the form attached as Schedule III hereto and (iii) any Issuer
Written Information.

     

    “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules
and regulations of the Commission promulgated thereunder.

     

    “Execution
Time” shall mean the date and time that this Agreement is executed and delivered
by the parties hereto.

     

    “Investment
Company Act” shall mean the Investment Company Act of 1940, as amended, and the
rules and regulations of the Commission promulgated thereunder.

     

    “Issuer
Written Information” shall mean any writings in addition to the Preliminary
Memorandum that the parties expressly agree in writing to treat as part of the
Disclosure Package.

     

    “NASD”
shall mean the National Association of Securities Dealers, Inc.

     

     “Regulation D”
shall mean Regulation D under the Act.

     

    “Regulation S”
shall mean Regulation S under the Act.

     

    “Trust
Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, and the
rules and regulations of the Commission promulgated thereunder.

     

    

     

    [Signature page
follows]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    If the
foregoing is in accordance with your understanding of our agreement, please sign
and return to us the enclosed duplicate hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the Company and the
several Initial Purchasers.

     

    Very truly yours,

     

    

     

    

     

    

     

    
      	
               
      

            	
              Texas
      Gas Transmission, LLC

            

    

     

    
      	
               
      

            	
              By:

            	
                           /s/

            	 

    

     

    
      	
               
      

            	
              Name:

            

    

     

    
      	
               
      

            	
              Title:

            

    

     

    
      
        
          
            	
                     

                    
                    

                    
                    

                  	
                    Signature
      Page to Purchase Agreement

                  	 
      

          

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    The
foregoing Agreement is hereby

     

    confirmed
and accepted as of the

     

    date
first above written.

     

    
      	
               
      

            	
              Credit
      Suisse Securities (USA) LLC

            

    

     

    
      	
              By:

            	
                                  /s/

            	 

    

     

    
      	
               
      

            	
              Name:

            

    

     

    
      	
               
      

            	
              Title:

            

    

     

    
      	
               
      

            	
              J.P. Morgan Securities
      Inc.

            

    

     

    
      	
              By:

            	
                                  /s/

            	 

    

     

    
      	
               
      

            	
              Name:

            

    

     

    
      	
               
      

            	
              Title:

            

    

     

    Wachovia
Capital Markets, LLC

    
      	
              By:                    /s/

            	 

    

     

    
      	
               
      

            	
              Name:

            

    

     

    
      	
               
      

            	
              Title:

            

    

     

    For
themselves and the other several Initial

    Purchasers
named in Schedule I to the

    foregoing
Agreement.

    
      
        
          
            	
                     

                    
                    

                  	
                    Signature
      Page to Purchase Agreement

                  	 
      

          

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    
      
        
          
            	
                     

                    
                    

                  	 
      	 
      

          

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE I

     

    
      	
              Initial Purchasers

            	
              
                Principal
      Amount of Securities to be Purchased

                 

              

            
	
              Credit
      Suisse Securities (USA) LLC

            	
              U.S.$83,334,000

            
	
              J.P.
      Morgan Securities Inc.

               

            	
              U.S.$83,333,000

            
	
              Wachovia
      Capital Markets, LLC

               

            	
              U.S.$83,333,000

            
	 
      	 
      
	
              Total

            	
              U.S.
      250,000,000

            

    

    

    
      
        
          
            	
                     

                    
                    

                  	
                    Signature
      Page to Purchase Agreement

                  	 
      

          

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
II

     

    JURISDICTIONS
OF QUALIFICATION

     

    
      	
              
                 

                Name
      of Entity

                 

              

            	
              
                 

                Jurisdiction

                of
      Formation

                 

              

            	
              
                 

                Jurisdictions

                of
      Qualification

                 

              

            
	
              Texas
      Gas Transmission, LLC

            	
              Delaware

            	
              Louisiana,
      Texas, Arkansas, Mississippi, Tennessee, Kentucky, Indiana, Ohio and
      Illinois

            

    

    

     

    
      
        
          
            	
                     

                    
                    

                  	 
      	 
      

          

          

        

         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
III

    

    Pricing
Term Sheet

    March 24,
2008

    

    ISSUER:
Texas Gas Transmission, LLC

    SECURITY:  5.50%
Senior Notes Due 2013

    SIZE:  $250,000,000

    MATURITY:  April
1, 2013

    PRICE TO
PUBLIC:  99.619% ($249,047,500)

    PAYMENT
DATES:  April 1 and October 1

    SPREAD TO
BENCHMARK TREASURY:  +295 bps

    BENCHMARK
TREASURY:  2.75% due Feb. 28, 2013

    BENCHMARK
TREASURY YIELD:  2.638%

    MAKE-WHOLE
CALL:  T+ 50 bps

    EXPECTED
SETTLEMENT DATE:   March 27, 2008

    CUSIP/ISIN:  882440AT7
/  US882440AT71

    JOINT
BOOK RUNNING MANAGERS: Credit Suisse Securities (USA) LLC, J.P. Morgan
Securities Inc., Wachovia Capital Markets, LLC

    

    This
communication is intended for the sole use of the person to whom it is provided
by the sender.

    

    These
securities have not been registered under the Securities Act of 1933, as
amended, and may only be sold to qualified institutional buyers pursuant to Rule
144A or pursuant to another applicable exemption from registration.

    

    The
information in this term sheet and the attached Capitalization table, as
adjusted for this offering, supplements the preliminary offering memorandum,
dated March 24, 2008 (the “Preliminary Memorandum”) of Texas Gas Transmission,
LLC (the “Company”) and supersedes the information in the Preliminary Memorandum
to the extent inconsistent with the information in the Preliminary
Memorandum.  This term sheet and the attached Capitalization table, as
adjusted for this offering, are qualified in their entirety by reference to the
Preliminary Memorandum.  Terms used herein but not defined herein
shall have the respective meanings as set forth in the Preliminary
Memorandum.

    

    ANY
DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS
COMMUNICATION AND SHOULD BE DISREGARDED.  SUCH DISCLAIMERS OR OTHER
NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING
SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.

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