Document:

Exhibit 4.3 

TIERONE CORPORATION 

as Issuer 

INDENTURE 

Dated as of April 26,
2004 

WILMINGTON TRUST COMPANY 

as Trustee 

FLOATING RATE JUNIOR
SUBORDINATED DEBT SECURITIES DUE 2034 

TABLE OF CONTENTS 

			
	ARTICLE I	DEFINITIONS	  1
	
         Section 1.01	Definitions	  1
	
ARTICLE II	DEBT SECURITIES	  8
	
         Section 2.01	Authentication and Dating	  8
	         Section 2.02	Form of Trustee's Certificate of Authentication	  9
	         Section 2.03	Form and Denomination of Debt Securities	  9
	         Section 2.04	Execution of Debt Securities	  9
	         Section 2.05	Exchange and Registration of Transfer of Debt Securities	10
	         Section 2.06	Mutilated, Destroyed, Lost or Stolen Debt Securities	13
	         Section 2.07	Temporary Debt Securities	14
	         Section 2.08	Payment of Interest	14
	         Section 2.09	Cancellation of Debt Securities Paid, etc	16
	         Section 2.10	Computation of Interest	16
	         Section 2.11	Extension of Interest Payment Period	17
	         Section 2.12	CUSIP Numbers	18
	
ARTICLE III	PARTICULAR COVENANTS OF THE COMPANY	18
	
         Section 3.01	Payment of Principal, Premium and Interest; Agreed Treatment of the Debt Securities	18
	         Section 3.02	Offices for Notices and Payments, etc	19
	         Section 3.03	Appointments to Fill Vacancies in Trustee's Office	20
	         Section 3.04	Provision as to Paying Agent	20
	         Section 3.05	Certificate to Trustee	21
	         Section 3.06	Additional Amounts	21
	         Section 3.07	Compliance with Consolidation Provisions	21
	         Section 3.08	Limitation on Dividends	22
	         Section 3.09	Covenants as to the Trust	22
	
ARTICLE IV	LISTS	23
	
         Section 4.01	Securityholders' Lists	23
	         Section 4.02	Preservation and Disclosure of Lists	23
	         Section 4.03	Financial and Other Information	24
	
ARTICLE V	REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS	25
	
         Section 5.01	Events of Default	25
	         Section 5.02	Payment of Debt Securities on Default; Suit Therefor	26
	         Section 5.03	Application of Moneys Collected by Trustee	28
	         Section 5.04	Proceedings by Securityholders	28

i 

			
			  
	         Section 5.05	Proceedings by Trustee	29
	         Section 5.06	Remedies Cumulative and Continuing	29
	         Section 5.07	Direction of Proceedings and Waiver of Defaults by Majority of
	 	Securityholders	29
	         Section 5.08	Notice of Defaults	30
	         Section 5.09	Undertaking to Pay Costs	30
	
ARTICLE VI	CONCERNING THE TRUSTEE	31
	
         Section 6.01	Duties and Responsibilities of Trustee	31
	         Section 6.02	Reliance on Documents, Opinions, etc.	32
	         Section 6.03	No Responsibility for Recitals, etc.	33
	         Section 6.04	Trustee, Authenticating Agent, Paying Agents, Transfer Agents or
		Registrar May Own Debt Securities	33
	         Section 6.05	Moneys to be Held in Trust	33
	         Section 6.06	Compensation and Expenses of Trustee	34
	         Section 6.07	Officers' Certificate as Evidence	35
	         Section 6.08	Eligibility of Trustee	35
	         Section 6.09	Resignation or Removal of Trustee	35
	         Section 6.10	Acceptance by Successor Trustee	37
	         Section 6.11	Succession by Merger, etc	37
	         Section 6.12	Authenticating Agents	38
	
ARTICLE VII	CONCERNING THE SECURITYHOLDERS	39
	
         Section 7.01	Action by Securityholders	39
	         Section 7.02	Proof of Execution by Securityholders	40
	         Section 7.03	Who Are Deemed Absolute Owners	40
	         Section 7.04	Debt Securities Owned by Company Deemed Not Outstanding	40
	         Section 7.05	Revocation of Consents; Future Holders Bound	41
	
ARTICLE VIII	SECURITYHOLDERS' MEETINGS	41
	
         Section 8.01	Purposes of Meetings	41
	         Section 8.02	Call of Meetings by Trustee	42
	         Section 8.03	Call of Meetings by Company or Securityholders	42
	         Section 8.04	Qualifications for Voting	42
	         Section 8.05	Regulations	42
	         Section 8.06	Voting	43
	         Section 8.07	Quorum; Actions	43
	
ARTICLE IX	SUPPLEMENTAL INDENTURES	44
	
         Section 9.01	Supplemental Indentures without Consent of Securityholders	44
	         Section 9.02	Supplemental Indentures with Consent of Securityholders	45
	         Section 9.03	Effect of Supplemental Indentures	46

ii 

			
			  
	         Section 9.04	Notation on Debt Securities	47
	         Section 9.05	Evidence of Compliance of Supplemental Indenture to be Furnished to
		Trustee 	47
	
ARTICLE X	REDEMPTION OF SECURITIES	47
	
         Section 10.01	Optional Redemption	47
	         Section 10.02	Special Event Redemption	47
	         Section 10.03	Notice of Redemption; Selection of Debt Securities	48
	         Section 10.04	Payment of Debt Securities Called for Redemption	48
	
ARTICLE XI	CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE	49
	
         Section 11.01	Company May Consolidate, etc., on Certain Terms	49
	         Section 11.02	Successor Entity to be Substituted	50
	         Section 11.03	Opinion of Counsel to be Given to Trustee	50
	
ARTICLE XII	SATISFACTION AND DISCHARGE OF INDENTURE	51
	
         Section 12.01	Discharge of Indenture	51
	         Section 12.02	Deposited Moneys to be Held in Trust by Trustee	51
	         Section 12.03	Paying Agent to Repay Moneys Held	52
	         Section 12.04	Return of Unclaimed Moneys	52
	
ARTICLE XIII	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	52
	
         Section 13.01	Indenture and Debt Securities Solely Corporate Obligations	52
	
ARTICLE XIV	MISCELLANEOUS PROVISIONS	52
	
         Section 14.01	Successors	52
	         Section 14.02	Official Acts by Successor Entity	52
	         Section 14.03	Surrender of Company Powers	53
	         Section 14.04	Addresses for Notices, etc	53
	         Section 14.05	Governing Law	53
	         Section 14.06	Evidence of Compliance with Conditions Precedent	53
	         Section 14.07	Business Day Convention	54
	         Section 14.08	Table of Contents, Headings, etc	54
	         Section 14.09	Execution in Counterparts	54
	         Section 14.10	Separability	54
	         Section 14.11	Assignment	54
	         Section 14.12	Acknowledgment of Rights	55
	
ARTICLE XV	SUBORDINATION OF DEBT SECURITIES	55
	
         Section 15.01	Agreement to Subordinate	55

iii 

			
			  
	         Section 15.02	Default on Senior Indebtedness	55
	         Section 15.03	Liquidation; Dissolution; Bankruptcy	56
	         Section 15.04	Subrogation	57
	         Section 15.05	Trustee to Effectuate Subordination	58
	         Section 15.06	Notice by the Company	58
	         Section 15.07	Rights of the Trustee; Holders of Senior Indebtedness	59
	         Section 15.08	Subordination May Not Be Impaired	59
	
EXHIBITS
	
         EXHIBIT A	Form of Debt Security

iv 

        THIS
INDENTURE, dated as of April 26, 2004, between TierOne Corporation, a savings and loan
holding company incorporated in Wisconsin (hereinafter sometimes called the
“Company”), and Wilmington Trust Company, a Delaware banking corporation, as
trustee (hereinafter sometimes called the “Trustee”). 

W I T N E S S E T H : 

        WHEREAS,
for its lawful corporate purposes, the Company has duly authorized the issuance of its
Floating Rate Junior Subordinated Debt Securities due 2034 (the “Debt
Securities”) under this Indenture and to provide, among other things, for the
execution and authentication, delivery and administration thereof, the Company has duly
authorized the execution of this Indenture. 

        NOW,
THEREFORE, in consideration of the premises, and the purchase of the Debt Securities by
the holders thereof, the Company covenants and agrees with the Trustee for the equal and
proportionate benefit of the respective holders from time to time of the Debt Securities
as follows: 

ARTICLE I 
DEFINITIONS  

        Section
1.01    Definitions.  

        The
terms defined in this Section 1.01 (except as herein otherwise expressly provided or
unless the context otherwise requires) for all purposes of this Indenture and of any
indenture supplemental hereto shall have the respective meanings specified in this Section
1.01. All accounting terms used herein and not expressly defined shall have the meanings
assigned to such terms in accordance with generally accepted accounting principles and the
term “generally accepted accounting principles” means such accounting principles
as are generally accepted in the United States at the time of any computation. 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. 

        “Additional
Amounts” has the meaning set forth in Section 3.06. 

        “Additional Provisions”
has the meaning set forth in Section 15.01. 

        “Administrative
Action” has the meaning specified within the definition of “Tax Event” in
this Section 1.01. 

        “Authenticating
Agent” means any agent or agents of the Trustee which at the time shall be appointed
and acting pursuant to Section 6.12. 

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

        “Board
of Directors” means the board of directors or the executive committee or any other
duly authorized designated officers of the Company. 

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

        “Business
Day” means any day other than a Saturday, Sunday or any other day on which banking
institutions in Wilmington, Delaware, The City of New York or Omaha, Nebraska are
permitted or required by law or executive order to close. 

        “Calculation
Agent” means the Person identified as “Trustee” in the first paragraph
hereof with respect to the Debt Securities and the Institutional Trustee with respect to
the Trust Securities. 

        “Capital
Securities” means undivided beneficial interests in the assets of the Trust which are
designated as “MMCapSSM” and rank pari passu with Common
Securities issued by the Trust; provided, however, that if an Event of
Default (as defined in the Declaration) has occurred and is continuing, the rights of
holders of such Common Securities to payment in respect of distributions and payments upon
liquidation, redemption and otherwise are subordinated to the rights of holders of such
Capital Securities. 

        “Capital
Securities Guarantee” means the guarantee agreement that the Company will enter into
with Wilmington Trust Company or other Persons that operates directly or indirectly for
the benefit of holders of Capital Securities of the Trust. 

        “Capital
Treatment Event” means, if the Company is organized and existing under the laws of
the United States or any state thereof or the District of Columbia, the receipt by the
Company and the Trust of an Opinion of Counsel experienced in such matters to the effect
that, as a result of (a) any amendment to, or change in, the laws, rules or regulations of
the United States or any political subdivision thereof or therein, or any rules,
guidelines or policies of an applicable regulatory authority for the Debenture Issuer or
(b)as the result of any official or administrative pronouncement or action or decision
interpreting or applying such laws, rules or regulations, which amendment or change is
effective or which pronouncement, action or decision is announced on or after the date of
original issuance of the Debt Securities, there is more than an insubstantial risk that
the Company will not, within 90 days of the date of such opinion, be entitled to treat an
amount equal to the aggregate Liquidation Amount of the Capital Securities as “Tier 1
Capital” (or its then equivalent) if the Company (or its successors) were subject to
such capital requirements applied as if the Company (or its successors) were a bank
holding company for purposes of the capital adequacy guidelines of the Federal Reserve (or
any successor regulatory authority with jurisdiction over bank holding companies), as then
in effect and applicable to the Company; provided, however, that the
distribution of the Debt Securities in connection with the liquidation of the Trust by the
Company shall not in and of itself constitute a Capital Treatment Event unless such
liquidation shall have occurred in connection with a Tax Event or an Investment Company
Event. 

        “Certificate”
means a certificate signed by any one of the principal executive officer, the principal
financial officer or the principal accounting officer of the Company. 

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

2 

        “Common
Securities” means undivided beneficial interests in the assets of the Trust which are
designated as “Common Securities” and rank pari passu with Capital
Securities issued by the Trust; provided, however, that if an Event of
Default (as defined in the Declaration) has occurred and is continuing, the rights of
holders of such Common Securities to payment in respect of distributions and payments upon
liquidation, redemption and otherwise are subordinated to the rights of holders of such
Capital Securities. 

        “Company”
means TierOne Corporation, a savings and loan holding company incorporated in Wisconsin,
and, subject to the provisions of Article XI, shall include its successors and assigns. 

        “Debt
Security” or “Debt Securities” has the meaning stated in the first recital
of this Indenture. 

        “Debt
Security Register” has the meaning specified in Section 2.05. 

        “Declaration”
means the Amended and Restated Declaration of Trust of the Trust, dated as of April 26,
2004, as amended or supplemented from time to time. 

        “Default”
means any event, act or condition that with notice or lapse of time, or both, would
constitute an Event of Default. 

        “Defaulted
Interest” has the meaning set forth in Section 2.08. 

        “Deferred
Interest” has the meaning set forth in Section 2.11. 

        “Event
of Default” means any event specified in Section 5.01, which has continued for the
period of time, if any, and after the giving of the notice, if any, therein designated. 

        “Exchange
Act” means the Securities Exchange Act of 1934, as amended. 

        “Extension
Period” has the meaning set forth in Section 2.11. 

        “Federal
Reserve” means the Board of Governors of the Federal Reserve System. 

        “Indenture”
means this Indenture as originally executed or, if amended or supplemented as herein
provided, as so amended or supplemented, or both. 

        “Institutional
Trustee” has the meaning set forth in the Declaration. 

        “Interest
Payment Date” means March 7th, June 7th, September
7th and December 7th of each year, commencing on June 7, 2004
subject to Section 14.07. 

        “Interest
Period” has the meaning set forth in Section 2.08. 

        “Interest Rate”
means, with respect to any Interest Period, a per annum rate of interest equal to LIBOR,
as determined on the LIBOR Determination Date for such Interest Period (or, in the case of
the first Interest Period, will be 1.11%), plus 2.80%; provided, however,
that the Interest Rate for any Interest Period may not exceed the highest rate permitted
by New York law, as the same may be modified by United States law of general application. 

3 

        “Investment
Company Event” means the receipt by the Company and the Trust of an Opinion of
Counsel experienced in such matters to the effect that, as a result of a change in law or
regulation or written change in interpretation or application of law or regulation by any
legislative body, court, governmental agency or regulatory authority, there is more than
an insubstantial risk that the Trust is or, within 90 days of the date of such opinion
will be, considered an “investment company” that is required to be registered
under the Investment Company Act of 1940, as amended, which change becomes effective or
would become effective, as the case may be, on or after the date of the original issuance
of the Debt Securities. 

        “LIBOR”
means the London Interbank Offered Rate for three-month U.S. Dollar deposits in Europe as
determined by the Calculation Agent according to Section 2.10(b). 

        “LIBOR
Banking Day” has the meaning set forth in Section 2.10(b)(i). 

        “LIBOR Business
Day” has the meaning set forth in Section 2.10(b)(i). 

        “LIBOR
Determination Date” has the meaning set forth in Section 2.10(b)(i). 

        “Liquidation
Amount” means the liquidation amount of $1,000 per Trust Security. 

        “Maturity
Date” means June 7, 2034, subject to Section 14.07. 

        “Officers’
Certificate” means a certificate signed by the Chairman of the Board, the Vice
Chairman, the President or any Vice President, and by the Chief Financial Officer, the
Treasurer, an Assistant Treasurer, the Comptroller, an Assistant Comptroller, the
Secretary or an Assistant Secretary of the Company, and delivered to the Trustee. Each
such certificate shall include the statements provided for in Section 14.06 if and to the
extent required by the provisions of such Section. 

        “Opinion
of Counsel” means an opinion in writing signed by legal counsel, who may be an
employee of or counsel to the Company or may be other counsel reasonably satisfactory to
the Trustee. Each such opinion shall include the statements provided for in Section 14.06
if and to the extent required by the provisions of such Section. 

        The
term “outstanding,” when used with reference to Debt Securities, subject to the
provisions of Section 7.04, means, as of any particular time, all Debt Securities
authenticated and delivered by the Trustee or the Authenticating Agent under this
Indenture, except 

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

        (b)                 Debt
Securities, or portions thereof, for the payment or redemption of which           moneys
in the necessary amount shall have been deposited in trust with the           Trustee or
with any Paying Agent (other than the Company) or shall have been set           aside and
segregated in trust by the Company (if the Company shall act as its           own Paying
Agent); provided, that, if such Debt Securities, or portions           thereof,
are to be redeemed prior to maturity thereof, notice of such redemption           shall
have been given as provided in Articles X and XIV or provision           satisfactory to
the Trustee shall have been made for giving such notice; and  

4 

        (c)                 Debt
Securities paid pursuant to Section 2.06 or in lieu of or in substitution           for
which other Debt Securities shall have been authenticated and delivered
          pursuant to the terms of Section 2.06 unless proof satisfactory to the Company
          and the Trustee is presented that any such Debt Securities are held by bona
fide           holders in due course.  

        “Optional
Redemption Date” has the meaning set forth in Section 10.01. 

        “Optional Redemption
Price” means an amount in cash equal to 100% of the principal amount of the Debt
Securities being redeemed plus unpaid interest accrued on such Debt Securities to the
related Optional Redemption Date. 

        “OTS”
means the Office of Thrift Supervision. 

        “Paying
Agent” has the meaning set forth in Section 3.04(e). 

        “Person”
means a legal person, including any individual, corporation, estate, partnership, joint
venture, association, joint-stock company, limited liability company, trust,
unincorporated association or government or any agency or political subdivision thereof,
or any other entity of whatever nature. 

        “Predecessor
Security” of any particular Debt Security means every previous Debt Security
evidencing all or a portion of the same debt as that evidenced by such particular Debt
Security; and, for the purposes of this definition, any Debt Security authenticated and
delivered under Section 2.06 in lieu of a lost, destroyed or stolen Debt Security shall be
deemed to evidence the same debt as the lost, destroyed or stolen Debt Security. 

        “Principal
Office of the Trustee” means the office of the Trustee at which at any particular
time its corporate trust business shall be principally administered, which at all times
shall be located within the United States and at the time of the execution of this
Indenture shall be Rodney Square North, 1100 North Market Street, Wilmington, DE
19890-0001. 

        “Reference
Banks” has the meaning set forth in Section 2.10(b)(ii). 

        “Resale
Restriction Termination Date” means, with respect to any Debt Security, the date
which is the later of (i) two years (or such shorter period of time as permitted by Rule
144(k) under the Securities Act) after the later of (y) the date of original issuance of
such Debt Security and (z) the last date on which the Company or any Affiliate (as defined
in Rule 405 under the Securities Act) of the Company was the holder of such Debt Security
(or any predecessor thereto) and (ii) such later date, if any, as may be required by any
subsequent change in applicable law. 

        “Responsible
Officer” means, with respect to the Trustee, any officer within the Principal Office
of the Trustee with direct responsibility for the administration of the Indenture,
including any vice-president, any assistant vice-president, any secretary, any assistant
secretary, the treasurer, any assistant treasurer, any trust officer or other officer of
the Principal Office of the Trustee customarily performing functions similar to those
performed by any of the above designated officers and also means, with respect to a
particular corporate trust matter, any other officer to whom such matter is referred
because of that officer’s knowledge of and familiarity with the particular subject. 

5 

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

        “Securityholder,”
“holder of Debt Securities” or other similar terms, means any Person in whose
name at the time a particular Debt Security is registered on the Debt Security Register. 

        “Senior
Indebtedness” means, with respect to the Company, (i) the principal, premium, if any,
and interest in respect of (A) indebtedness of the Company for money borrowed and (B)
indebtedness evidenced by securities, debentures, notes, bonds or other similar
instruments issued by the Company, (ii) all capital lease obligations of the Company,
(iii) all obligations of the Company issued or assumed as the deferred purchase price of
property, all conditional sale obligations of the Company and all obligations of the
Company under any title retention agreement (but excluding trade accounts payable arising
in the ordinary course of business), (iv) all obligations of the Company for the
reimbursement of any letter of credit, any banker’s acceptance, any security purchase
facility, any repurchase agreement or similar arrangement, any interest rate swap, any
other hedging arrangement, any obligation under options or any similar credit or other
transaction, (v) all obligations of the type referred to in clauses (i) through (iv) above
of other Persons for the payment of which the Company is responsible or liable as obligor,
guarantor or otherwise and (vi) all obligations of the type referred to in clauses (i)
through (v) above of other Persons secured by any lien on any property or asset of the
Company (whether or not such obligation is assumed by the Company), whether incurred on or
prior to the date of this Indenture or thereafter incurred, unless, with the prior
approval of the OTS if not otherwise generally approved, it is provided in the instrument
creating or evidencing the same or pursuant to which the same is outstanding that such
obligations are not superior or are pari passu in right of payment to the Debt
Securities; provided, however, that Senior Indebtedness shall not include
(A) any debt securities issued to any trust other than the Trust (or a trustee of such
trust) that is a financing vehicle of the Company (a “financing entity”), in
connection with the issuance by such financing entity of equity or other securities in
transactions substantially similar in structure to the transactions contemplated hereunder
and in the Declaration or (B) any guarantees of the Company in respect of the equity or
other securities of any financing entity referred to in clause (A) above. 

        “Special
Event” means any of a Tax Event, an Investment Company Event or a Capital Treatment
Event. 

        “Special
Redemption Date” has the meaning set forth in Section 10.02. 

        “Special Redemption
Price” means, with respect to the redemption of any Debt Security following a Special
Event, an amount in cash equal to 103.525% of the principal amount of Debt Securities to
be redeemed prior to June 7, 2005 and thereafter equal to the percentage of the principal
amount of the Debt Securities that is specified below for the Special Redemption Date
plus, in each case, unpaid interest accrued thereon to the Special Redemption Date: 

6 

		
	Special Redemption During the 12-Month	
	Period beginning June 7,	Percent of Principal Amount
	2005                         	103.140%
	2006                         	102.355%
	2007                         	101.570%
	2008                         	100.785%
	2009 and thereafter	100.000%

        “Subsidiary”
means, with respect to any Person, (i) any corporation, at least a majority of the
outstanding voting stock of which is owned, directly or indirectly, by such Person or one
or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, (ii)
any general partnership, joint venture or similar entity, at least a majority of the
outstanding partnership or similar interests of which shall at the time be owned by such
Person or one or more of its Subsidiaries or by such Person and one or more of its
Subsidiaries, and (iii) any limited partnership of which such Person or any of its
Subsidiaries is a general partner. For the purposes of this definition, “voting
stock” means shares, interests, participations or other equivalents in the equity
interest (however designated) in such Person having ordinary voting power for the election
of a majority of the directors (or the equivalent) of such Person, other than shares,
interests, participations or other equivalents having such power only by reason of the
occurrence of a contingency. 

        “Tax
Event” means the receipt by the Company and the Trust of an Opinion of Counsel
experienced in such matters to the effect that, as a result of any amendment to or change
(including any announced prospective change) in the laws or any regulations thereunder of
the United States or any political subdivision or taxing authority thereof or therein, or
as a result of any official administrative pronouncement (including any private letter
ruling, technical advice memorandum, regulatory procedure, notice or announcement (an
“Administrative Action”)) or judicial decision interpreting or applying such
laws or regulations, regardless of whether such Administrative Action or judicial decision
is issued to or in connection with a proceeding involving the Company or the Trust and
whether or not subject to review or appeal, which amendment, clarification, change,
Administrative Action or decision is enacted, promulgated or announced, in each case on or
after the date of original issuance of the Debt Securities, there is more than an
insubstantial risk that: (i) the Trust is, or will be within 90 days of the date of such
opinion, subject to United States federal income tax with respect to income received or
accrued on the Debt Securities; (ii) if the Company is organized and existing under the
laws of the United States or any state thereof or the District of Columbia interest
payable by the Company on the Debt Securities is not, or within 90 days of the date of
such opinion, will not be, deductible by the Company, in whole or in part, for United
States federal income tax purposes; or (iii) the Trust is, or will be within 90 days of
the date of such opinion, subject to or otherwise required to pay, or required to withhold
from distributions to holders of Trust Securities, more than a de minimis amount of other
taxes (including withholding taxes), duties, assessments or other governmental charges. 

7 

        “Trust”
means TierOne Capital Trust I, the Delaware statutory trust, or any other similar trust
created for the purpose of issuing Capital Securities in connection with the issuance of
Debt Securities under this Indenture, of which the Company is the sponsor. 

        “Trust
Indenture Act” means the Trust Indenture Act of 1939, as amended from time to time,
or any successor legislation. 

        “Trust
Securities” means Common Securities and Capital Securities of the Trust. 

        “Trustee”
means the Person identified as “Trustee” in the first paragraph hereof, and,
subject to the provisions of Article VI hereof, shall also include its successors and
assigns as Trustee hereunder. 

        “United
States” means the United States of America and the District of Columbia. 

        “U.S.      Person” has
the meaning given to United States Person as set forth in           Section 7701(a)(30)
of the Code.  

ARTICLE II 
DEBT
SECURITIES  

        Section
2.01    Authentication and Dating.  

        Upon
the execution and delivery of this Indenture, or from time to time thereafter, Debt
Securities in an aggregate principal amount not in excess of $30,928,000 may be executed
and delivered by the Company to the Trustee for authentication, and the Trustee shall
thereupon authenticate and make available for delivery said Debt Securities to or upon the
written order of the Company, signed by its Chairman of the Board of Directors, Vice
Chairman, President or Chief Financial Officer or one of its Vice Presidents, without any
further action by the Company hereunder. In authenticating such Debt Securities, and
accepting the additional responsibilities under this Indenture in relation to such Debt
Securities, the Trustee shall be entitled to receive, and (subject to Section 6.01) shall
be fully protected in relying upon a copy of any Board Resolution or Board Resolutions
relating thereto and, if applicable, an appropriate record of any action taken pursuant to
such resolution, in each case certified by the Secretary or an Assistant Secretary or
other officers with appropriate delegated authority of the Company as the case may be. 

        The
Trustee shall have the right to decline to authenticate and deliver any Debt Securities
under this Section if the Trustee, being advised by counsel, determines that such action
may not lawfully be taken or if a Responsible Officer of the Trustee in good faith shall
determine that such action would expose the Trustee to personal liability to existing
Securityholders. 

8 

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

        Section
2.02    Form of Trustee's Certificate of Authentication. 

        The
Trustee’s certificate of authentication on all Debt Securities shall be in
substantially the following form: 

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

		Wilmington Trust Company,
		not in its individual capacity
		but solely as trustee
	

 	By:________________________________________
		      Authorized Officer

        Section
2.03    Form and Denomination of Debt Securities. 

        The
Debt Securities shall be substantially in the form of Exhibit A hereto. The Debt
Securities shall be in registered, certificated form without coupons and in minimum
denominations of $100,000 and any multiple of $1,000 in excess thereof. The Debt
Securities shall be numbered, lettered, or otherwise distinguished in such manner or in
accordance with such plans as the officers executing the same may determine with the
approval of the Trustee as evidenced by the execution and authentication thereof. 

        Section
2.04    Execution of Debt Securities.  

        The
Debt Securities shall be signed in the name and on behalf of the Company by the manual or
facsimile signature of its Chairman of the Board of Directors, Vice Chairman, President or
Chief Financial Officer or one of its Executive Vice Presidents, Senior Vice Presidents or
Vice Presidents, under its corporate seal (if legally required) which may be affixed
thereto or printed, engraved or otherwise reproduced thereon, by facsimile or otherwise,
and which need not be attested. Only such Debt Securities as shall bear thereon a
certificate of authentication substantially in the form herein before recited, executed by
the Trustee or the Authenticating Agent by the manual signature of an authorized officer,
shall be entitled to the benefits of this Indenture or be valid or obligatory for any
purpose. Such certificate by the Trustee or the Authenticating Agent upon any Debt
Security executed by the Company shall be conclusive evidence that the Debt Security so
authenticated has been duly authenticated and delivered hereunder and that the holder is
entitled to the benefits of this Indenture. 

        In
case any officer of the Company who shall have signed any of the Debt Securities shall
cease to be such officer before the Debt Securities so signed shall have been
authenticated and delivered by the Trustee or the Authenticating Agent, or disposed of by
the Company, such Debt Securities nevertheless may be authenticated and delivered or
disposed of as though the Person who signed such Debt Securities had not ceased to be such
officer of the Company; and any Debt Security may be signed on behalf of the Company by
such Persons as, at the actual date of the execution of such Debt Security, shall be the
proper officers of the Company, although at the date of the execution of this Indenture
any such person was not such an officer. 

9 

        Every
Debt Security shall be dated the date of its authentication. 

        Section
2.05    Exchange and Registration of Transfer of Debt Securities. 

        The
Company shall cause to be kept, at the office or agency maintained for the purpose of
registration of transfer and for exchange as provided in Section 3.02, a register (the
“Debt Security Register”) for the Debt Securities issued hereunder in which,
subject to such reasonable regulations as it may prescribe, the Company shall provide for
the registration and transfer of all Debt Securities as provided in this Article II. Such
register shall be in written form or in any other form capable of being converted into
written form within a reasonable time. 

        Debt
Securities to be exchanged may be surrendered at the Principal Office of the Trustee or at
any office or agency to be maintained by the Company for such purpose as provided in
Section 3.02, and the Company shall execute, the Company or the Trustee shall register and
the Trustee or the Authenticating Agent shall authenticate and make available for delivery
in exchange therefor, the Debt Security or Debt Securities which the Securityholder making
the exchange shall be entitled to receive. Upon due presentment for registration of
transfer of any Debt Security at the Principal Office of the Trustee or at any office or
agency of the Company maintained for such purpose as provided in Section 3.02, the Company
shall execute, the Company or the Trustee shall register and the Trustee or the
Authenticating Agent shall authenticate and make available for delivery in the name of the
transferee or transferees, a new Debt Security for a like aggregate principal amount.
Registration or registration of transfer of any Debt Security by the Trustee or by any
agent of the Company appointed pursuant to Section 3.02, and delivery of such Debt
Security, shall be deemed to complete the registration or registration of transfer of such
Debt Security. 

        All
Debt Securities presented for registration of transfer or for exchange or payment shall
(if so required by the Company or the Trustee or the Authenticating Agent) be duly
endorsed by, or be accompanied by, a written instrument or instruments of transfer in form
satisfactory to the Company and either the Trustee or the Authenticating Agent duly
executed by, the holder or such holder’s attorney duly authorized in writing. 

        No
service charge shall be made for any exchange or registration of transfer of Debt
Securities, but the Company or the Trustee may require payment of a sum sufficient to
cover any tax, fee or other governmental charge that may be imposed in connection
therewith other than exchanges pursuant to Section 2.07, Section 9.04 or Section 10.04 not
involving any transfer. 

        The
Company or the Trustee shall not be required to exchange or register a transfer of any
Debt Security for a period of 15 days immediately preceding the date of selection of Debt
Securities for redemption. 

10 

        Notwithstanding
the foregoing, Debt Securities may not be transferred prior to the Resale Restriction
Termination Date except in compliance with the legend set forth below, unless otherwise
determined by the Company in accordance with applicable law, which legend shall be placed
on each Debt Security: 

        THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY STATE SECURITIES LAWS OR ANY OTHER APPLICABLE
SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE
REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN
THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT
TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE HOLDER OF THIS SECURITY OR
ANY INTEREST OR PARTICIPATION HEREIN, BY ITS ACCEPTANCE HEREOF OR THEREOF, AS THE CASE MAY
BE, AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY OR ANY INTEREST OR
PARTICIPATION HEREIN PRIOR TO THE DATE WHICH IS THE LATER OF (i) TWO YEARS (OR SUCH
SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144(k) UNDER THE SECURITIES ACT) AFTER THE
LATER OF (Y) THE DATE OF ORIGINAL ISSUANCE HEREOF AND (Z) THE LAST DATE ON WHICH THE
COMPANY OR ANY AFFILIATE (AS DEFINED IN RULE 405 UNDER THE SECURITIES ACT) OF THE COMPANY
WAS THE HOLDER OF THIS SECURITY OR SUCH INTEREST OR PARTICIPATION (OR ANY PREDECESSOR
THERETO) AND (ii) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY ANY SUBSEQUENT CHANGE IN
APPLICABLE LAW, ONLY (A) TO THE COMPANY, (B) PURSUANT TO RULE 144A UNDER THE SECURITIES
ACT (“RULE 144A”), TO A PERSON THE HOLDER REASONABLY BELIEVES IS A
“QUALIFIED INSTITUTIONAL BUYER”, AS DEFINED IN RULE 144A, 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, (C) PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT TO AN “ACCREDITED
INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (a) (1), (2), (3), (7) OR (8) OF RULE
501 UNDER THE SECURITIES ACT THAT IS ACQUIRING THIS SECURITY OR SUCH INTEREST OR
PARTICIPATION FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN ACCREDITED INVESTOR, FOR
INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY
DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, (D) PURSUANT TO OFFERS AND SALES TO
NON-US PERSONS THAT OCCUR OUTSIDE THE UNITED STATES PURSUANT TO REGULATION S UNDER THE
SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S RIGHT PRIOR TO ANY SUCH
OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (C) OR (E) ABOVE TO REQUIRE THE DELIVERY OF AN
OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO IT IN
ACCORDANCE WITH THE INDENTURE, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY. THE
HOLDER OF THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN, BY ITS ACCEPTANCE HEREOF
OR THEREOF, AS THE CASE MAY BE, AGREES THAT IT WILL COMPLY WITH THE FOREGOING
RESTRICTIONS. 

11 

        THE
HOLDER OF THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN, BY ITS ACCEPTANCE HEREOF
OR THEREOF, AS THE CASE MAY BE, ALSO AGREES, REPRESENTS AND WARRANTS THAT IT IS NOT AN
EMPLOYEE BENEFIT, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER PLAN OR ARRANGEMENT SUBJECT TO
TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE
“CODE”) (EACH A “PLAN”), OR AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE
“PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN THE ENTITY AND NO
PERSON INVESTING “PLAN ASSETS” OF ANY PLAN MAY ACQUIRE OR HOLD THIS SECURITY OR
ANY INTEREST OR PARTICIPATION HEREIN, UNLESS SUCH PURCHASER OR HOLDER IS ELIGIBLE FOR THE
EXEMPTIVE RELIEF AVAILABLE UNDER U.S. DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS
EXEMPTION 96-23, 95-60, 91-38, 90-1 OR 84-14 OR ANOTHER APPLICABLE EXEMPTION OR ITS
PURCHASE AND HOLDING OF THIS SECURITY OR SUCH INTEREST OR PARTICIPATION IS NOT PROHIBITED
BY SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE WITH RESPECT TO SUCH PURCHASE OR
HOLDING. ANY PURCHASER OR HOLDER OF THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN
WILL BE DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING HEREOF OR THEREOF, AS THE
CASE MAY BE, THAT EITHER (i) IT IS NOT AN EMPLOYEE BENEFIT PLAN WITHIN THE MEANING OF
SECTION 3(3) OF ERISA, OR A PLAN TO WHICH SECTION 4975 OF THE CODE IS APPLICABLE, A
TRUSTEE OR OTHER PERSON ACTING ON BEHALF OF AN EMPLOYEE BENEFIT PLAN OR PLAN, OR ANY OTHER
PERSON OR ENTITY USING THE ASSETS OF ANY EMPLOYEE BENEFIT PLAN OR PLAN TO FINANCE SUCH
PURCHASE, OR (ii) SUCH PURCHASE AND HOLDING WILL NOT RESULT IN A PROHIBITED TRANSACTION
UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE FOR WHICH THERE IS NO APPLICABLE
STATUTORY OR ADMINISTRATIVE EXEMPTION. 

        IN
CONNECTION WITH ANY TRANSFER, THE HOLDER OF THIS SECURITY WILL DELIVER TO THE REGISTRAR
AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS MAY BE REQUIRED BY THE
INDENTURE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

        THIS
SECURITY WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN MINIMUM DENOMINATIONS OF $100,000
AND MULTIPLES OF $1,000 IN EXCESS THEREOF. ANY ATTEMPTED TRANSFER OF THIS SECURITY IN
DENOMINATIONS OF LESS THAN $100,000 SHALL BE DEEMED TO BE VOID AND OF NO LEGAL EFFECT
WHATSOEVER. ANY SUCH PURPORTED TRANSFEREE SHALL BE DEEMED NOT TO BE THE HOLDER OF THIS
SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN FOR ANY PURPOSE, INCLUDING, BUT NOT
LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS SECURITY OR SUCH INTEREST OR
PARTICIPATION, AND SUCH PURPORTED TRANSFEREE SHALL BE DEEMED TO HAVE NO INTEREST
WHATSOEVER IN THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN. 

12 

        THIS
OBLIGATION IS NOT A DEPOSIT AND IS NOT INSURED BY THE UNITED STATES OR ANY AGENCY OR FUND
OF THE UNITED STATES, INCLUDING THE FEDERAL DEPOSIT INSURANCE CORPORATION (THE
“FDIC”). THIS OBLIGATION IS SUBORDINATED TO THE CLAIMS OF THE DEPOSITORS AND THE
CLAIMS OF GENERAL AND SECURED CREDITORS OF THE COMPANY, IS INELIGIBLE AS COLLATERAL FOR A
LOAN BY THE COMPANY OR ANY OF ITS SUBSIDIARIES AND IS NOT SECURED. 

        Section
2.06    Mutilated, Destroyed, Lost or Stolen Debt Securities. 

        In
case any Debt Security shall become mutilated or be destroyed, lost or stolen, the Company
shall execute, and upon its written request the Trustee shall authenticate and deliver, a
new Debt Security bearing a number not contemporaneously outstanding, in exchange and
substitution for the mutilated Debt Security, or in lieu of and in substitution for the
Debt Security so destroyed, lost or stolen. In every case the applicant for a substituted
Debt Security shall furnish to the Company and the Trustee such security or indemnity as
may be required by them to save each of them harmless, and, in every case of destruction,
loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to
their satisfaction of the destruction, loss or theft of such Debt Security and of the
ownership thereof. 

        The
Trustee may authenticate any such substituted Debt Security and deliver the same upon the
written request or authorization of any officer of the Company. Upon the issuance of any
substituted Debt Security, the Company may require the payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in relation thereto and any
other expenses connected therewith. In case any Debt Security which has matured or is
about to mature or has been called for redemption in full shall become mutilated or be
destroyed, lost or stolen, the Company may, instead of issuing a substitute Debt Security,
pay or authorize the payment of the same (without surrender thereof except in the case of
a mutilated Debt Security) if the applicant for such payment shall furnish to the Company
and the Trustee such security or indemnity as may be required by them to save each of them
harmless and, in case of destruction, loss or theft, evidence satisfactory to the Company
and to the Trustee of the destruction, loss or theft of such Security and of the ownership
thereof. 

        Every
substituted Debt Security issued pursuant to the provisions of this Section 2.06 by virtue
of the fact that any such Debt Security is destroyed, lost or stolen shall constitute an
additional contractual obligation of the Company, whether or not the destroyed, lost or
stolen Debt Security shall be found at any time, and shall be entitled to all the benefits
of this Indenture equally and proportionately with any and all other Debt Securities duly
issued hereunder. All Debt Securities shall be held and owned upon the express condition
that, to the extent permitted by applicable law, the foregoing provisions are exclusive
with respect to the replacement or payment of mutilated, destroyed, lost or stolen Debt
Securities and shall preclude any and all other rights or remedies notwithstanding any law
or statute existing or hereafter enacted to the contrary with respect to the replacement
or payment of negotiable instruments or other securities without their surrender. 

13 

        Section
2.07    Temporary Debt Securities.  

        Pending
the preparation of definitive Debt Securities, the Company may execute and the Trustee
shall authenticate and make available for delivery temporary Debt Securities that are
typed, printed or lithographed. Temporary Debt Securities shall be issuable in any
authorized denomination, and substantially in the form of the definitive Debt Securities
but with such omissions, insertions and variations as may be appropriate for temporary
Debt Securities, all as may be determined by the Company. Every such temporary Debt
Security shall be executed by the Company and be authenticated by the Trustee upon the
same conditions and in substantially the same manner, and with the same effect, as the
definitive Debt Securities. Without unreasonable delay, the Company will execute and
deliver to the Trustee or the Authenticating Agent definitive Debt Securities and
thereupon any or all temporary Debt Securities may be surrendered in exchange therefor, at
the Principal Office of the Trustee or at any office or agency maintained by the Company
for such purpose as provided in Section 3.02, and the Trustee or the Authenticating Agent
shall authenticate and make available for delivery in exchange for such temporary Debt
Securities a like aggregate principal amount of such definitive Debt Securities. Such
exchange shall be made by the Company at its own expense and without any charge therefor
except that in case of any such exchange involving a registration of transfer the Company
may require payment of a sum sufficient to cover any tax, fee or other governmental charge
that may be imposed in relation thereto. Until so exchanged, the temporary Debt Securities
shall in all respects be entitled to the same benefits under this Indenture as definitive
Debt Securities authenticated and delivered hereunder. 

        Section
2.08    Payment of Interest.  

        Each
Debt Security will bear interest at the then applicable Interest Rate (i) in the case of
the initial Interest Period, for the period from, and including, the date of original
issuance of such Debt Security to, but excluding, the initial Interest Payment Date and
(ii) thereafter, for the period from, and including, the first day following the end of
the preceding Interest Period to, but excluding, the applicable Interest Payment Date or,
in the case of the last Interest Period, the related Optional Redemption Date, Special
Redemption Date or Maturity Date, as applicable (each such period, an “Interest
Period”), on the principal thereof, on any overdue principal and (to the extent that
payment of such interest is enforceable under applicable law) on Deferred Interest and on
any overdue installment of interest (including Defaulted Interest), payable (subject to
the provisions of Article XII) on each Interest Payment Date and on the Maturity Date, any
Optional Redemption Date or the Special Redemption Date, as the case may be. Interest and
any Deferred Interest on any Debt Security that is payable, and is punctually paid or duly
provided for by the Company, on any Interest Payment Date shall be paid to the Person in
whose name such Debt Security (or one or more Predecessor Securities) is registered at the
close of business on the regular record date for such interest installment, except that
interest and any Deferred Interest payable on the Maturity Date, any Optional Redemption
Date or the Special Redemption Date, as the case may be, shall be paid to the Person to
whom principal is paid. In case (i) the Maturity Date of any Debt Security or
(ii) any Debt Security or portion thereof is called for redemption and the related
Optional Redemption Date or the Special Redemption Date, as the case may be, is subsequent
to the regular record date with respect to any Interest Payment Date and prior to such
Interest Payment Date, interest on such Debt Security will be paid upon presentation and
surrender of such Debt Security. 

14 

        Any
interest on any Debt Security, other than Deferred Interest, that is payable, but is not
punctually paid or duly provided for by the Company, on any Interest Payment Date (herein
called “Defaulted Interest”) shall forthwith cease to be payable to the holder
on the relevant regular record date by virtue of having been such holder, and such
Defaulted Interest shall be paid by the Company to the Persons in whose names such Debt
Securities (or their respective Predecessor Securities) are registered at the close of
business on a special record date for the payment of such Defaulted Interest, which shall
be fixed in the following manner: the Company shall notify the Trustee in writing of the
amount of Defaulted Interest proposed to be paid on each such Debt Security and the date
of the proposed payment, and at the same time the Company shall deposit with the Trustee
an amount of money equal to the aggregate amount proposed to be paid in respect of such
Defaulted Interest or shall make arrangements reasonably satisfactory to the Trustee for
such deposit prior to the date of the proposed payment, such money when deposited to be
held in trust for the benefit of the Persons entitled to such Defaulted Interest as
provided in this paragraph. Thereupon the Trustee shall fix a special record date for the
payment of such Defaulted Interest, which shall not be more than fifteen nor less than ten
days prior to the date of the proposed payment and not less than ten days after the
receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly
notify the Company of such special record date and, in the name and at the expense of the
Company, shall cause notice of the proposed payment of such Defaulted Interest and the
special record date therefor to be mailed, first class postage prepaid, to each
Securityholder at his or her address as it appears in the Debt Security Register, not less
than ten days prior to such special record date. Notice of the proposed payment of such
Defaulted Interest and the special record date therefor having been mailed as aforesaid,
such Defaulted Interest shall be paid to the Persons in whose names such Debt Securities
(or their respective Predecessor Securities) are registered on such special record date
and thereafter the Company shall have no further payment obligation in respect of the
Defaulted Interest. 

        Any
interest scheduled to become payable on an Interest Payment Date occurring during an
Extension Period shall not be Defaulted Interest and shall be payable on such other date
as may be specified in the terms of such Debt Securities. 

        The
term “regular record date”, as used in this Section, shall mean the fifteenth
day prior to the applicable Interest Payment Date, whether or not such day is a Business
Day. 

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

15 

        Section
2.09    Cancellation of Debt Securities Paid, etc. 

        All
Debt Securities surrendered for the purpose of payment, redemption, exchange or
registration of transfer, shall, if surrendered to the Company or any Paying Agent, be
surrendered to the Trustee and promptly canceled by it, or, if surrendered to the Trustee
or any Authenticating Agent, shall be promptly canceled by it, and no Debt Securities
shall be issued in lieu thereof except as expressly permitted by any of the provisions of
this Indenture. All Debt Securities canceled by any Authenticating Agent shall be
delivered to the Trustee. The Trustee shall destroy all canceled Debt Securities unless
the Company otherwise directs the Trustee in writing, in which case the Trustee shall
dispose of such Debt Securities as directed by the Company. If the Company shall acquire
any of the Debt Securities, however, such acquisition shall not operate as a redemption or
satisfaction of the indebtedness represented by such Debt Securities unless and until the
same are surrendered to the Trustee for cancellation. 

        Section
2.10    Computation of Interest.  

        (a)              The
amount of interest payable for any Interest Period will be computed on the
          basis of a 360-day year and the actual number of days elapsed in such Interest
          Period.  

        (b)              LIBOR
shall be determined by the Calculation Agent for each Interest Period           (other
than the first Interest Period, in which case LIBOR will be 1.11% per           annum) in
accordance with the following provisions:  

	 	        (i)              On
the second LIBOR Business Day (provided, that on such day commercial banks           are
open for business (including dealings in foreign currency deposits) in           London
(a “LIBOR Banking Day”), and otherwise the next preceding LIBOR
          Business Day that is also a LIBOR Banking Day) prior to the March           15th,
June 15th, September 15th or December           15th, as
the case may be, immediately succeeding the commencement of           such Interest
Period (each such day, a “LIBOR Determination Date”),           LIBOR shall
equal the rate, as obtained by the Calculation Agent, for           three-month U.S.
Dollar deposits in Europe, which appears on Telerate (as           defined in the
International Swaps and Derivatives Association, Inc. 2000           Interest Rate and
Currency Exchange Definitions) page 3750 or such other page as           may replace such
page 3750, as of 11:00 a.m. (London time) on such LIBOR           Determination Date, as
reported by Bloomberg Financial Markets Commodities News           or any successor
service (“Telerate Page 3750”). “LIBOR Business           Day” means
any day that is not a Saturday, Sunday or other day on which           commercial banking
institutions in The City of New York or Wilmington, Delaware           are authorized or
obligated by law or executive order to be closed. If such rate           is superseded on
Telerate Page 3750 by a corrected rate before 12:00 noon           (London time) on such
LIBOR Determination Date, the corrected rate as so           substituted will be LIBOR
for such LIBOR Determination Date.  

	 	        (ii)              If,
on such LIBOR Determination Date, such rate does not appear on Telerate Page
          3750, the Calculation Agent shall determine the arithmetic mean of the offered
          quotations of the Reference Banks to leading banks in the London interbank
          market for three-month U.S. Dollar deposits in Europe (in an amount determined
          by the Calculation Agent) by reference to requests for quotations as of
          approximately 11:00 a.m. (London time) on such LIBOR Determination Date made by
          the Calculation Agent to the Reference Banks. If, on such LIBOR Determination
          Date, at least two of the Reference Banks provide such quotations, LIBOR shall
          equal the arithmetic mean of such quotations. If, on such LIBOR Determination
          Date, only one or none of the Reference Banks provide such a quotation, LIBOR
          shall be deemed to be the arithmetic mean of the offered quotations that at
          least two leading banks in The City of New York (as selected by the Calculation
          Agent) are quoting on such LIBOR Determination Date for three-month U.S. Dollar
          deposits in Europe at approximately 11:00 a.m. (London time) (in an amount
          determined by the Calculation Agent). As used herein, “Reference
          Banks” means four major banks in the London interbank market selected by
          the Calculation Agent.  

16 

	 	        (iii)              If
the Calculation Agent is required but is unable to determine a rate in
          accordance with at least one of the procedures provided above, LIBOR for such
          Interest Period shall be LIBOR in effect for the immediately preceding Interest
          Period.  

        (c)              All
percentages resulting from any calculations on the Debt Securities will be
          rounded, if necessary, to the nearest one hundred-thousandth of a percentage
          point, with five one-millionths of a percentage point rounded upward (e.g.,
          9.876545% (or .09876545) being rounded to 9.87655% (or .0987655)), and all
          dollar amounts used in or resulting from such calculation will be rounded to
the           nearest cent (with one-half cent being rounded upward).  

        (d)              On
each LIBOR Determination Date, the Calculation Agent shall notify, in           writing,
the Company and the Paying Agent of the applicable Interest Rate that           applies
to the related Interest Period. The Calculation Agent shall, upon the           request
of a holder of any Debt Securities, inform such holder of the Interest           Rate
that applies to the related Interest Period. All calculations made by the
          Calculation Agent in the absence of manifest error shall be conclusive for all
          purposes and binding on the Company and the holders of the Debt Securities. The
          Paying Agent shall be entitled to rely on information received from the
          Calculation Agent or the Company as to the applicable Interest Rate. The
Company           shall, from time to time, provide any necessary information to the
Paying Agent           relating to any original issue discount and interest on the Debt
Securities that           is included in any payment and reportable for taxable income
calculation           purposes.  

        Section
2.11    Extension of Interest Payment Period.  

So long as no Event of Default has
occurred and is continuing, the Company shall have the right, from time to time and
without causing an Event of Default, to defer payments of interest on the Debt Securities
by extending the interest payment period on the Debt Securities at any time and from time
to time during the term of the Debt Securities, for up to 20 consecutive quarterly periods
(each such extended interest payment period, together with all previous and further
consecutive extensions thereof, is referred to herein as an “Extension Period”).
No Extension Period may end on a date other than an Interest Payment Date or extend beyond
the Maturity Date, any Optional Redemption Date or the Special Redemption Date, as the
case may be. During any Extension Period, interest will continue to accrue on the Debt
Securities, and interest on such accrued interest (such accrued interest and interest
thereon referred to herein as “Deferred Interest”) will accrue at an annual rate
equal to the Interest Rate applicable during such Extension Period, compounded quarterly
from the date such Deferred Interest would have been payable were it not for the Extension
Period, to the extent permitted by applicable law. No interest or Deferred Interest
(except any Additional Amounts that may be due and payable) shall be due and payable
during an Extension Period, except at the end thereof. At the end of any Extension Period,
the Company shall pay all Deferred Interest then accrued and unpaid on the Debt
Securities; provided, however, that during any Extension Period, the Company
shall be subject to the restrictions set forth in Section 3.08. Prior to the termination
of any Extension Period, the Company may further extend such Extension Period,
provided, that no Extension Period (including all previous and further consecutive
extensions that are part of such Extension Period) shall exceed 20 consecutive quarterly
periods. Upon the termination of any Extension Period and upon the payment of all Deferred
Interest, the Company may commence a new Extension Period, subject to the foregoing
requirements. The Company must give the Trustee notice of its election to begin or extend
an Extension Period at least one Business Day prior to the regular record date applicable
to the next Interest Payment Date. The Trustee shall give notice of the Company’s
election to begin or extend an Extension Period to the Securityholders. 

17 

        Section
2.12    CUSIP Numbers.  

        The
Company in issuing the Debt Securities may use a “CUSIP” number (if then
generally in use), and, if so, the Trustee shall use a “CUSIP” number in notices
of redemption as a convenience to Securityholders; provided, that any such notice
may state that no representation is made as to the correctness of such number either as
printed on the Debt Securities or as contained in any notice of a redemption and that
reliance may be placed only on the other identification numbers printed on the Debt
Securities, and any such redemption shall not be affected by any defect in or omission of
such numbers. The Company will promptly notify the Trustee in writing of any change in the
CUSIP number. 

ARTICLE III 
PARTICULAR
COVENANTS OF THE COMPANY  

        Section
3.01    Payment of Principal, Premium and Interest; Agreed Treatment of the Debt
Securities. 

        (a)              The
Company covenants and agrees that it will duly and punctually pay or cause           to
be paid all payments due in respect of the Debt Securities at the place, at           the
respective times and in the manner provided in this Indenture and the Debt
          Securities. Payment of the principal of and premium, if any, and interest on
the           Debt Securities due on the Maturity Date, any Optional Redemption Date or
the           Special Redemption Date, as the case may be, will be made by the Company in
          immediately available funds against presentation and surrender of such Debt
          Securities. At the option of the Company, each installment of interest on the
          Debt Securities due on an Interest Payment Date other than the Maturity Date,
          any Optional Redemption Date or the Special Redemption Date, as the case may
be,           may be paid (i) by mailing checks for such interest payable to the order of
the           holders of Debt Securities entitled thereto as they appear on the Debt
Security           Register or (ii) by wire transfer of immediately available funds to
any account           with a banking institution located in the United States designated
by such           holders to the Paying Agent no later than the related record date.
          Notwithstanding anything to the contrary contained in this Indenture or any
Debt           Security, if the Trust or the trustee of the Trust is the holder of any
Debt           Security, then all payments in respect of such Debt Security shall be made
by           the Company in immediately available funds when due.  

18 

        (b)              The
Company will treat the Debt Securities as indebtedness, and the interest
          payable in respect of such Debt Securities as interest, for all U.S. federal
          income tax purposes. All payments in respect of such Debt Securities will be
          made free and clear of U.S. withholding tax to any beneficial owner thereof
that           has provided an Internal Revenue Service Form W-8 BEN (or any substitute
or           successor form) establishing its non-U.S. status for U.S. federal income tax
          purposes.  

        (c)              As
of the date of this Indenture, the Company represents that it has no           intention
to exercise its right under Section 2.11 to defer payments of interest           on the
Debt Securities by commencing an Extension Period.  

        (d)              As
of the date of this Indenture, the Company represents that the likelihood           that
it would exercise its right under Section 2.11 to defer payments of           interest on
the Debt Securities by commencing an Extension Period at any time           during which
the Debt Securities are outstanding is remote because of the           restrictions that
would be imposed on the Company’s ability to declare or           pay dividends or
distributions on, or to redeem, purchase or make a liquidation           payment with
respect to, any of its outstanding equity and on the Company’s           ability to
make any payments of principal of or premium, if any, or interest on,           or
repurchase or redeem, any of its debt securities that rank pari passu          in
all respects with or junior in interest to the Debt Securities.  

        Section
3.02    Offices for Notices and Payments, etc. 

        So
long as any of the Debt Securities remain outstanding, the Company will maintain in
Wilmington, Delaware or in Lincoln, Nebraska an office or agency where the Debt Securities
may be presented for payment, an office or agency where the Debt Securities may be
presented for registration of transfer and for exchange as provided in this Indenture and
an office or agency where notices and demands to or upon the Company in respect of the
Debt Securities or of this Indenture may be served. The Company will give to the Trustee
written notice of the location of any such office or agency and of any change of location
thereof. Until otherwise designated from time to time by the Company in a notice to the
Trustee, or specified as contemplated by Section 2.05, such office or agency for all of
the above purposes shall be the Principal Office of the Trustee. In case the Company shall
fail to maintain any such office or agency in Wilmington, Delaware or in Lincoln,
Nebraska, or shall fail to give such notice of the location or of any change in the
location thereof, presentations and demands may be made and notices may be served at the
Principal Office of the Trustee. 

        In
addition to any such office or agency, the Company may from time to time designate one or
more offices or agencies outside Wilmington, Delaware or Lincoln, Nebraska where the Debt
Securities may be presented for registration of transfer and for exchange in the manner
provided in this Indenture, and the Company may from time to time rescind such
designation, as the Company may deem desirable or expedient; provided, however,
that no such designation or rescission shall in any manner relieve the Company of its
obligation to maintain any such office or agency in Wilmington, Delaware or in Lincoln,
Nebraska for the purposes above mentioned. The Company will give to the Trustee prompt
written notice of any such designation or rescission thereof. 

19 

        Section
3.03    Appointments to Fill Vacancies in Trustee's Office. 

        The
Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will
appoint, in the manner provided in Section 6.09, a Trustee, so that there shall at all
times be a Trustee hereunder. 

        Section
3.04    Provision as to Paying Agent.  

        (a)              If
the Company shall appoint a Paying Agent other than the Trustee, it will           cause
such Paying Agent to execute and deliver to the Trustee an instrument in           which
such agent shall agree with the Trustee, subject to the provision of this
          Section 3.04,  

	 	        (i)              that
it will hold all sums held by it as such agent for the payment of all           payments
due on the Debt Securities (whether such sums have been paid to it by           the
Company or by any other obligor on the Debt Securities) in trust for the
          benefit of the holders of the Debt Securities;  

	 	        (ii)              that
it will give the Trustee prompt written notice of any failure by the           Company
(or by any other obligor on the Debt Securities) to make any payment on           the
Debt Securities when the same shall be due and payable; and  

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

        (b)              If
the Company shall act as its own Paying Agent, it will, on or before each due
          date of the payments due on the Debt Securities, set aside, segregate and hold
          in trust for the benefit of the holders of the Debt Securities a sum sufficient
          to make such payments so becoming due and will notify the Trustee in writing of
          any failure to take such action and of any failure by the Company (or by any
          other obligor under the Debt Securities) to make any payment on the Debt
          Securities when the same shall become due and payable.  

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

        (c)              Anything
in this Section 3.04 to the contrary notwithstanding, the Company may,           at any
time, for the purpose of obtaining a satisfaction and discharge with           respect to
the Debt Securities, or for any other reason, pay, or direct any           Paying Agent
to pay, to the Trustee all sums held in trust by the Company or any           such Paying
Agent, such sums to be held by the Trustee upon the same terms and           conditions
herein contained.  

20 

        (d)              Anything
in this Section 3.04 to the contrary notwithstanding, the agreement to           hold
sums in trust as provided in this Section 3.04 is subject to Sections 12.03           and
12.04.  

        (e)              The
Company hereby initially appoints the Trustee to act as paying agent for the
          Debt Securities (the “Paying Agent”).  

        Section
3.05    Certificate to Trustee.  

        The
Company will deliver to the Trustee on or before 120 days after the end of each fiscal
year, so long as Debt Securities are outstanding hereunder, a Certificate stating that in
the course of the performance by the signers of their duties as officers of the Company
they would normally have knowledge of any default by the Company in the performance of any
covenants of the Company contained herein, stating whether or not they have knowledge of
any such default and, if so, specifying each such default of which the signers have
knowledge and the nature thereof. 

        Section
3.06    Additional Amounts.  

        If
and for so long as the Trust is the holder of all Debt Securities and is subject to or
otherwise required to pay (or is required to withhold from distributions to holders of
Trust Securities) any additional taxes (including withholding taxes), duties, assessments
or other governmental charges as a result of a Tax Event, the Company will pay such
additional amounts (the “Additional Amounts”) on the Debt Securities or the
Trust Securities, as the case may be, as shall be required so that the net amounts
received and retained by the holders of Debt Securities or Trust Securities, as the case
may be, after payment of all taxes (including withholding taxes), duties, assessments or
other governmental charges, will be equal to the amounts that such holders would have
received and retained had no such taxes (including withholding taxes), duties, assessments
or other governmental charges been imposed. 

        Whenever
in this Indenture or the Debt Securities there is a reference in any context to the
payment of principal of or premium, if any, or interest on the Debt Securities, such
mention shall be deemed to include mention of payments of the Additional Amounts provided
for in this Section to the extent that, in such context, Additional Amounts are, were or
would be payable in respect thereof pursuant to the provisions of this Section and express
mention of the payment of Additional Amounts (if applicable) in any provisions hereof
shall not be construed as excluding Additional Amounts in those provisions hereof where
such express mention is not made, provided, however, that, notwithstanding
anything to the contrary contained in this Indenture or any Debt Security, the deferral of
the payment of interest during an Extension Period pursuant to Section 2.11 shall not
defer the payment of any Additional Amounts that may be due and payable. 

        Section
3.07    Compliance with Consolidation Provisions. 

        The
Company will not, while any of the Debt Securities remain outstanding, consolidate with,
or merge into, any other Person, or merge into itself, or sell, convey, transfer or
otherwise dispose of all or substantially all of its property and assets to any other
Person unless the provisions of Article XI hereof are complied with. 

21 

        Section
3.08    Limitation on Dividends.  

        If
(i) there shall have occurred and be continuing a Default or an Event of Default, (ii) the
Company shall be in default with respect to its payment of any obligations under the
Capital Securities Guarantee or (iii) the Company shall have given notice of its election
to defer payments of interest on the Debt Securities by extending the interest payment
period as provided herein and such period, or any extension thereof, shall have commenced
and be continuing, then the Company may not (A) declare or pay any dividends or
distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect
to, any of the Company’s capital stock, (B) make any payment of principal of or
premium, if any, or interest on or repay, repurchase or redeem any debt securities of the
Company that rank pari passu in all respects with or junior in interest to the Debt
Securities or (C) make any payment under any guarantees of the Company that rank pari
passu in all respects with or junior in interest to the Capital Securities Guarantee
(other than (a) repurchases, redemptions or other acquisitions of shares of capital stock
of the Company (I) in connection with any employment contract, benefit plan or other
similar arrangement with or for the benefit of one or more employees, officers, directors
or consultants, (II) in connection with a dividend reinvestment or stockholder stock
purchase plan or (III) in connection with the issuance of capital stock of the Company (or
securities convertible into or exercisable for such capital stock) as consideration in an
acquisition transaction entered into prior to the occurrence of (i), (ii) or (iii) above,
(b) as a result of any exchange or conversion of any class or series of the Company’s
capital stock (or any capital stock of a subsidiary of the Company) for any class or
series of the Company’s capital stock or of any class or series of the Company’s
indebtedness for any class or series of the Company’s capital stock, (c) the purchase
of fractional interests in shares of the Company’s capital stock pursuant to the
conversion or exchange provisions of such capital stock or the security being converted or
exchanged, (d) any declaration of a dividend in connection with any stockholder’s
rights plan, or the issuance of rights, stock or other property under any
stockholder’s rights plan, or the redemption or repurchase of rights pursuant thereto
or (e) any dividend in the form of stock, warrants, options or other rights where the
dividend stock or the stock issuable upon exercise of such warrants, options or other
rights is the same stock as that on which the dividend is being paid or ranks pari
passu with or junior in interest to such stock). 

        Section
3.09    Covenants as to the Trust.  

        For
so long as such Trust Securities remain outstanding, the Company shall maintain 100%
ownership of the Common Securities; provided, however, that any permitted
successor of the Company under this Indenture may succeed to the Company’s ownership
of such Common Securities. The Company, as owner of the Common Securities, shall use
commercially reasonable efforts to cause the Trust (a) to remain a statutory trust, except
in connection with a distribution of Debt Securities to the holders of Trust Securities in
liquidation of the Trust, the redemption of all of the Trust Securities or mergers,
consolidations or amalgamations, each as permitted by the Declaration, (b) to otherwise
continue to be classified as a grantor trust for United States federal income tax purposes
and (c) to cause each holder of Trust Securities to be treated as owning an undivided
beneficial interest in the Debt Securities. 

22 

ARTICLE IV 
LISTS  

        Section
4.01    Securityholders’ Lists.  

        The
Company covenants and agrees that it will furnish or cause to be furnished to the Trustee: 

        (a)              on
each regular record date for an Interest Payment Date, a list, in such form           as
the Trustee may reasonably require, of the names and addresses of the
          Securityholders of the Debt Securities as of such record date; and  

        (b)              at
such other times as the Trustee may request in writing, within 30 days after
          the receipt by the Company of any such request, a list of similar form and
          content as of a date not more than 15 days prior to the time such list is
          furnished; except that no such lists need be furnished under this Section 4.01
          so long as the Trustee is in possession thereof by reason of its acting as Debt
          Security registrar.  

        Section
4.02    Preservation and Disclosure of Lists.  

        (a)              The
Trustee shall preserve, in as current a form as is reasonably practicable,           all
information as to the names and addresses of the holders of Debt Securities           (1)
contained in the most recent list furnished to it as provided in Section           4.01
or (2) received by it in the capacity of Debt Securities registrar (if so
          acting) hereunder. The Trustee may destroy any list furnished to it as provided
          in Section 4.01 upon receipt of a new list so furnished.  

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

	 	        (i)              afford
such applicants access to the information preserved at the time by the           Trustee
in accordance with the provisions of subsection (a) of this Section           4.02, or  

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

23 

        If
the Trustee shall elect not to afford such applicants access to such information, the
Trustee shall, upon the written request of such applicants, mail to each Securityholder of
Debt Securities whose name and address appear in the information preserved at the time by
the Trustee in accordance with the provisions of subsection (a) of this Section 4.02 a
copy of the form of proxy or other communication which is specified in such request with
reasonable promptness after a tender to the Trustee of the material to be mailed and of
payment, or provision for the payment, of the reasonable expenses of mailing, unless
within five days after such tender, the Trustee shall mail to such applicants and file
with the Securities and Exchange Commission, if permitted or required by applicable law,
together with a copy of the material to be mailed, a written statement to the effect that,
in the opinion of the Trustee, such mailing would be contrary to the best interests of the
holders of all Debt Securities, as the case may be, or would be in violation of applicable
law. Such written statement shall specify the basis of such opinion. If said Commission,
as permitted or required by applicable law, after opportunity for a hearing upon the
objections specified in the written statement so filed, shall enter an order refusing to
sustain any of such objections or if, after the entry of an order sustaining one or more
of such objections, said Commission shall find, after notice and opportunity for hearing,
that all the objections so sustained have been met and shall enter an order so declaring,
the Trustee shall mail copies of such material to all such Securityholders with reasonable
promptness after the entry of such order and the renewal of such tender; otherwise the
Trustee shall be relieved of any obligation or duty to such applicants respecting their
application. 

        (c)              Each
and every holder of Debt Securities, by receiving and holding the same,           agrees
with the Company and the Trustee that none of the Company, the Trustee or           any
Paying Agent shall be held accountable by reason of the disclosure of any           such
information as to the names and addresses of the holders of Debt Securities           in
accordance with the provisions of subsection (b) of this Section 4.02,
          regardless of the source from which such information was derived, and that the
          Trustee shall not be held accountable by reason of mailing any material
pursuant           to a request made under said subsection (b).  

        Section
4.03    Financial and Other Information.  

        (a)              The
Company shall deliver, by hardcopy or electronic transmission, to each
          Securityholder (1) each Report on Form 10-K and Form 10-Q prepared by the
          Company and filed with the Securities and Exchange Commission in accordance
with           the Exchange Act within 10 Business Days after the filing thereof, (2) if
the           Company is not then (y) subject to Section 13 or 15(d) of the Exchange Act
or           (z) exempt from reporting pursuant to Rule 12g3-2(b) thereunder, the
          information required to be provided by Rule 144A(d)(4) under the Securities
Act;           and (3) within 30 days after the end of the fiscal year of the Company
Form 1099           or such other annual U.S. federal income tax information statement
required by           the Code, containing such information with regard to the Debt
Securities held by           such holder as is required by the Code and the income tax
regulations of the           U.S. Treasury thereunder; and  

        (b)              If
and so long as the Holder of the Debt Securities is NBC Capital Markets           Group,
Inc. or an entity that holds a pool of trust preferred securities and/or           debt
securities or a trustee thereof, the Company will cause copies of its           reports
on Form H-b(11) to be delivered, by hardcopy or electronic transmission,           to the
Holder promptly following their filing with the OTS.  

24 

ARTICLE V 
REMEDIES OF
THE TRUSTEE AND SECURITYHOLDERS  

        Section
5.01    Events of Default.  

        The
following events shall be “Events of Default” with respect to Debt Securities: 

        (a)              the
Company defaults in the payment of any interest upon any Debt Security when           it
becomes due and payable, and continuance of such default for a period of 30
          days; for the avoidance of doubt, an extension of any interest payment period
by           the Company in accordance with Section 2.11 of this Indenture shall not
          constitute a default under this clause 5.01(a); or  

        (b)              the
Company defaults in the payment of all or any part of the principal of (or
          premium, if any, on) any Debt Securities as and when the same shall become due
          and payable, whether at maturity, upon redemption, by acceleration of maturity
          pursuant to Section 5.01 of this Indenture or otherwise; or  

        (c)              the
Company defaults in the performance of, or breaches, any of its covenants or
          agreements in Sections 3.06, 3.07, 3.08 or 3.09 of this Indenture (other than a
          covenant or agreement a default in whose performance or whose breach is
          elsewhere in this Section specifically dealt with), and continuance of such
          default or breach for a period of 90 days after there has been given, by
          registered or certified mail, to the Company by the Trustee or to the Company
          and the Trustee by the holders of not less than 25% in aggregate principal
          amount of the outstanding Debt Securities, 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)    
              a court having jurisdiction in the premises shall enter
a decree or order for           relief in respect of the Company in an involuntary case
under any applicable           bankruptcy, insolvency or other similar law now or
hereafter in effect, or           appoints a receiver, liquidator, assignee, custodian,
trustee, sequestrator or           other similar official of the Company or for any
substantial part of its           property, or orders the winding-up or liquidation of
its affairs and such           decree, appointment or order shall remain unstayed and in
effect for a period of           90 consecutive days; or  

        (e)              the
Company shall commence a voluntary case under any applicable bankruptcy,
          insolvency or other similar law now or hereafter in effect, shall consent to
the           entry of an order for relief in an involuntary case under any such law, or
shall           consent to the appointment of or taking possession by a receiver,
liquidator,           assignee, trustee, custodian, sequestrator or other similar
official of the           Company or of any substantial part of its property, or shall
make any general           assignment for the benefit of creditors, or shall fail
generally to pay its           debts as they become due; or  

        (f)              the
Trust shall have voluntarily or involuntarily liquidated, dissolved,           wound-up
its business or otherwise terminated its existence except in connection           with
(1) the distribution of the Debt Securities to holders of the Trust           Securities
in liquidation of their interests in the Trust, (2) the redemption of           all of
the outstanding Trust Securities or (3) mergers, consolidations or
          amalgamations, each as permitted by the Declaration.  

25 

        If
an Event of Default specified under clause (a), (b) or (c) of this Section 5.01 occurs and
is continuing with respect to the Debt Securities, then, in each and every such case,
either the Trustee or the holders of not less than 25% in aggregate principal amount of
the Debt Securities then outstanding hereunder, by notice in writing to the Company (and
to the Trustee if given by Securityholders), may declare the entire principal of the Debt
Securities and any premium and interest accrued, but unpaid, thereon to be due and payable
immediately, and upon any such declaration the same shall become immediately due and
payable. If an Event of Default specified under clause (d), (e) or (f) of this Section
5.01 occurs, then, in each and every such case, the entire principal amount of the Debt
Securities and any premium and interest accrued, but unpaid, thereon shall ipso
facto become immediately due and payable without further action. 

        The
foregoing provisions, however, are subject to the condition that if, at any time after the
principal of the Debt Securities shall have become due by acceleration, and before any
judgment or decree for the payment of the moneys due shall have been obtained or entered
as hereinafter provided, (i) the Company shall pay or shall deposit with the Trustee a sum
sufficient to pay all matured installments of interest upon all the Debt Securities and
all payments on the Debt Securities which shall have become due otherwise than by
acceleration (with interest upon all such payments and Deferred Interest, to the extent
permitted by law) and such amount as shall be sufficient to cover reasonable compensation
to the Trustee and each predecessor Trustee, their respective agents, attorneys and
counsel, and all other amounts due to the Trustee pursuant to Section 6.06, if any, and
(ii) all Events of Default under this Indenture, other than the non-payment of the
payments in respect of Debt Securities which shall have become due by acceleration, shall
have been cured, waived or otherwise remedied as provided herein, then, in each and every
such case, the holders of a majority in aggregate principal amount of the Debt Securities
then outstanding, by written notice to the Company and to the Trustee, may waive all
defaults and rescind and annul such acceleration 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; provided, however, that if the
Debt Securities are held by the Trust or a trustee of the Trust, such waiver or rescission
and annulment shall not be effective until the holders of a majority in aggregate
liquidation amount of the outstanding Capital Securities of the Trust shall have consented
to such waiver or rescission and annulment. 

        In
case the Trustee shall have proceeded to enforce any right under this Indenture and such
proceedings shall have been discontinued or abandoned because of such rescission or
annulment or for any other reason or shall have been determined adversely to the Trustee,
then and in every such case the Company, the Trustee and the holders of the Debt
Securities shall be restored respectively to their several positions and rights hereunder,
and all rights, remedies and powers of the Company, the Trustee and the holders of the
Debt Securities shall continue as though no such proceeding had been taken. 

        Section
5.02    Payment of Debt Securities on Default; Suit Therefor. 

        The
Company covenants that upon the occurrence of an Event of Default pursuant to clause (a)
or (b) of Section 5.01 and upon demand of the Trustee, the Company will pay to the
Trustee, for the benefit of the holders of the Debt Securities, the whole amount that then
shall have become due and payable on all Debt Securities, including Deferred Interest
accrued on the Debt Securities; and, in addition thereto, such further amount as shall be
sufficient to cover the costs and expenses of collection, including a reasonable
compensation to the Trustee, its agents, attorneys and counsel, and any other amounts due
to the Trustee under Section 6.06. In case the Company shall fail forthwith to pay such
amounts upon such demand, the Trustee, in its own name and as trustee of an express trust,
shall be entitled and empowered to institute any actions or proceedings at law or in
equity for the collection of the sums so due and unpaid, and may prosecute any such action
or proceeding to judgment or final decree, and may enforce any such judgment or final
decree against the Company or any other obligor on such Debt Securities and collect in the
manner provided by law out of the property of the Company or any other obligor on such
Debt Securities wherever situated the moneys adjudged or decreed to be payable. 

26 

        In
case there shall be pending proceedings for the bankruptcy or for the reorganization of
the Company or any other obligor on the Debt Securities under Bankruptcy Law, or in case a
receiver or trustee shall have been appointed for the property of the Company or such
other obligor, or in the case of any other similar judicial proceedings relative to the
Company or other obligor upon the Debt Securities, or to the creditors or property of the
Company or such other obligor, the Trustee, irrespective of whether the principal of the
Debt Securities shall then be due and payable as therein expressed or by acceleration or
otherwise and irrespective of whether the Trustee shall have made any demand pursuant to
the provisions of this Section 5.02, shall be entitled and empowered, by intervention in
such proceedings or otherwise, to file and prove a claim or claims for the whole amount of
principal and interest owing and unpaid in respect of the Debt Securities and, in case of
any judicial proceedings, to file such proofs of claim and other papers or documents as
may be necessary or advisable in order to have the claims of the Trustee (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 other amounts due
to the Trustee under Section 6.06) and of the Securityholders allowed in such judicial
proceedings relative to the Company or any other obligor on the Debt Securities, or to the
creditors or property of the Company or such other obligor, unless prohibited by
applicable law and regulations, to vote on behalf of the holders of the Debt Securities 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 to collect and receive any moneys or other property payable or
deliverable on any such claims, and to distribute the same after the deduction of its
charges and expenses; and any receiver, assignee or trustee in bankruptcy or
reorganization is hereby authorized by each of the Securityholders to make such payments
to the Trustee, and, in the event that the Trustee shall consent to the making of such
payments directly to the Securityholders, 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 amounts due to the Trustee
under Section 6.06. 

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

27 

        All
rights of action and of asserting claims under this Indenture, or under any of the Debt
Securities, may be enforced by the Trustee without the possession of any of the Debt
Securities, or the production thereof at any trial or other proceeding relative thereto,
and any such suit or proceeding instituted by the Trustee shall be brought in its own name
as trustee of an express trust, and any recovery of judgment shall be for the ratable
benefit of the holders of the Debt Securities. 

        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 Debt Securities, and it
shall not be necessary to make any holders of the Debt Securities parties to any such
proceedings. 

        Section
5.03    Application of Moneys Collected by Trustee. 

        Any
moneys collected by the Trustee shall be applied in the following order, at the date or
dates fixed by the Trustee for the distribution of such moneys, upon presentation of the
several Debt Securities in respect of which moneys have been collected, and stamping
thereon the payment, if only partially paid, and upon surrender thereof if fully paid: 

        First:
To the payment of costs and expenses incurred by, and reasonable fees of, the Trustee, its
agents, attorneys and counsel, and of all other amounts due to the Trustee under Section
6.06; 

        Second:
 To the payment of all Senior  Indebtedness  of the Company if and to the extent required
by Article XV;  

        Third:
To the payment of the amounts then due and unpaid upon Debt Securities, in respect of
which or for the benefit of which money has been collected, ratably, without preference or
priority of any kind, according to the amounts due upon such Debt Securities; and 

        Fourth:
The balance, if any, to the Company. 

        Section
5.04    Proceedings by Securityholders.  

        No
holder of any Debt Security shall have any right to institute any suit, action or
proceeding for any remedy hereunder, unless such holder previously shall have given to the
Trustee written notice of an Event of Default with respect to the Debt Securities and
unless the holders of not less than 25% in aggregate principal amount of the Debt
Securities then outstanding shall have given the Trustee a written request to institute
such action, suit or proceeding and shall have offered to the Trustee such reasonable
indemnity as it may require against the costs, expenses and liabilities to be incurred
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, suit or proceeding;
provided, that no holder of Debt Securities shall have any right to prejudice the
rights of any other holder of Debt Securities, obtain priority or preference over any
other such holder or enforce any right under this Indenture except in the manner herein
provided and for the equal, ratable and common benefit of all holders of Debt Securities. 

28 

        Notwithstanding
any other provisions in this Indenture, the right of any holder of any Debt Security to
receive payment of the principal of and premium, if any, and interest on such Debt
Security when due, or to institute suit for the enforcement of any such payment, shall not
be impaired or affected without the consent of such holder. For the protection and
enforcement of the provisions of this Section, each and every Securityholder and the
Trustee shall be entitled to such relief as can be given either at law or in equity. 

        Section
5.05    Proceedings by Trustee.  

        In
case of an Event of Default, 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 most effectual to protect and enforce any of such rights, either
by suit in equity or by action at law or by proceeding 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
5.06    Remedies Cumulative and Continuing.  

        Except
as otherwise provided in Section 2.06, all powers and remedies given by this Article V to
the Trustee or to the Securityholders shall, to the extent permitted by law, be deemed
cumulative and not exclusive of any other powers and remedies available to the Trustee or
the holders of the Debt Securities, by judicial proceedings or otherwise, to enforce the
performance or observance of the covenants and agreements contained in this Indenture or
otherwise established with respect to the Debt Securities, and no delay or omission of the
Trustee or of any holder of any of the Debt Securities 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 default or an
acquiescence therein; and, subject to the provisions of Section 5.04, every power and
remedy given by this Article V or by law to the Trustee or to the Securityholders may be
exercised from time to time, and as often as shall be deemed expedient, by the Trustee or
by the Securityholders. 

        Section
5.07    Direction of Proceedings and Waiver of Defaults by Majority of Securityholders. 

        The
holders of a majority in aggregate principal amount of the Debt Securities affected at
the time outstanding and, if the Debt Securities are held by the Trust or a trustee of
the Trust, the holders of a majority in aggregate liquidation amount of the outstanding
Capital Securities of the Trust 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 such Debt Securities; provided,
however, that if the Debt Securities are held by the Trust or a trustee of the
Trust, such time, method and place or such exercise, as the case may be, may not be so
directed until the holders of a majority in aggregate liquidation amount of the
outstanding Capital Securities of the Trust shall have directed such time, method and
place or such exercise, as the case may be; provided, further, that
(subject to the provisions of Section 6.01) the Trustee shall have the right to decline
to follow any such direction if the Trustee shall determine that the action so directed
would be unjustly prejudicial to the holders  

29 

not taking part in such direction or
if the Trustee being advised by counsel determines that the action or proceeding so
directed may not lawfully be taken or if a Responsible Officer of the Trustee shall
determine that the action or proceedings so directed would involve the Trustee in
personal liability. Prior to any declaration of acceleration, or ipsofacto acceleration,
of the maturity of the Debt Securities, the holders of a majority in aggregate principal
amount of the Debt Securities at the time outstanding may on behalf of the holders of all
of the Debt Securities waive (or modify any previously granted waiver of) any past
Default or Event of Default and its consequences, except a default (a) in the payment of
principal of or premium, if any, or interest on any of the Debt Securities, (b) in
respect of covenants or provisions hereof which cannot be modified or amended without the
consent of the holder of each Debt Security affected, or (c) in respect of the covenants
contained in Section 3.09; provided, however, that if the Debt Securities
are held by the Trust or a trustee of the Trust, such waiver or modification to such
waiver shall not be effective until the holders of a majority in aggregate liquidation
amount of the outstanding Capital Securities of the Trust shall have consented to such
waiver or modification to such waiver; provided, further, that if the
consent of the holder of each outstanding Debt Security is required, such waiver or
modification to such waiver shall not be effective until each holder of the outstanding
Capital Securities of the Trust shall have consented to such waiver or modification to
such waiver. Upon any such waiver or modification to such waiver, the Default or Event of
Default covered thereby shall be deemed to be cured for all purposes of this Indenture
and the Company, the Trustee and the holders of the Debt Securities shall be restored to
their former positions and rights hereunder, respectively; but no such waiver or
modification to such waiver shall extend to any subsequent or other Default or Event of
Default or impair any right consequent thereon. Whenever any Default or Event of Default
hereunder shall have been waived as permitted by this Section, said Default or Event of
Default shall for all purposes of the Debt Securities and this Indenture be deemed to
have been cured and to be not continuing.  

        Section
5.08    Notice of Defaults.  

        The
Trustee shall, within 90 days after a Responsible Officer of the Trustee shall have actual
knowledge or received written notice of the occurrence of a default with respect to the
Debt Securities, mail to all Securityholders, as the names and addresses of such holders
appear upon the Debt Security Register, notice of all defaults with respect to the Debt
Securities known to the Trustee, unless such defaults shall have been cured before the
giving of such notice (the term “default” for the purpose of this Section is
hereby defined to be any event specified in Section 5.01, not including periods of grace,
if any, provided for therein); provided, that, except in the case of default
in the payment of the principal of or premium, if any, or interest on any of the Debt
Securities, the Trustee shall be protected in withholding such notice if and so long as a
Responsible Officer of the Trustee in good faith determines that the withholding of such
notice is in the interests of the Securityholders. 

        Section
5.09    Undertaking to Pay Costs.  

        All
parties to this Indenture agree, and each holder of any Debt Security by such
holder’s 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 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 Securityholder, or group of Securityholders,
holding in the aggregate more than 10% in principal amount of the outstanding Debt
Securities (or, if such Debt Securities are held by the Trust or a trustee of the Trust,
more than 10% in liquidation amount of the outstanding Capital Securities),to any suit
instituted by any Securityholder for the enforcement of the payment of the principal of or
premium, if any, or interest on any Debt Security against the Company on or after the same
shall have become due and payable or to any suit instituted in accordance with Section
14.12. 

30 

ARTICLE VI 
CONCERNING
THE TRUSTEE  

        Section
6.01    Duties and Responsibilities of Trustee.  

        With
respect to the holders of Debt Securities issued hereunder, the Trustee, prior to the
occurrence of an Event of Default with respect to the Debt Securities and after the curing
or waiving of all Events of Default which may have occurred, with respect to the Debt
Securities, 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 Debt Securities
has occurred (which has not been cured or waived), the Trustee shall exercise 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
or bad faith, except that: 

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

	 	        (i)              the
duties and obligations of the Trustee with respect to the Debt Securities           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 with respect to the Debt Securities 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 certificates or opinions furnished to the
          Trustee and conforming to the requirements of this Indenture; but, in the case
          of any such 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 on
their           face to the requirements of this Indenture;  

31 

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

        (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
          Securityholders pursuant to Section 5.07, 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;
          and  

        (d)              the
Trustee shall not be charged with knowledge of any Default or Event of           Default
with respect to the Debt Securities unless either (1) a Responsible           Officer
shall have actual knowledge of such Default or Event of Default or (2)           written
notice of such Default or Event of Default shall have been given to the           Trustee
by the Company or any other obligor on the Debt Securities or by any           holder of
the Debt Securities, except that the Trustee shall be deemed to have           knowledge
of any Event of Default pursuant to Sections 5.01(a) or 5.01(b) hereof           (other
than an Event of Default resulting from the default in the payment of
          Additional Amounts if the Trustee does not have actual knowledge or written
          notice that such payment is due and payable) .  

        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. 

        Section
6.02    Reliance on Documents, Opinions, etc.  

        Except
as otherwise provided in Section 6.01: 

        (a)              the
Trustee may conclusively rely and shall be fully protected in acting or
          refraining from acting upon any resolution, certificate, statement, instrument,
          opinion, report, notice, request, consent, order, bond, note, debenture or
other           paper or document believed by it in good faith 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 Company mentioned herein shall be
          sufficiently evidenced by an Officers’ Certificate (unless other evidence
          in respect thereof be herein specifically prescribed); and any Board Resolution
          may be evidenced to the Trustee by a copy thereof certified by the Secretary or
          an Assistant Secretary of the Company;  

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

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

32 

        (e)              the
Trustee shall not be liable for any action taken or omitted by it in good           faith
and reasonably believed by it to be authorized or within the discretion or
          rights or powers conferred upon it by this Indenture; nothing contained herein
          shall, however, relieve the Trustee of the obligation, upon the occurrence of
an           Event of Default with respect to the Debt Securities (which has not been
cured           or waived) to exercise with respect to the Debt Securities such of the
rights           and powers vested in it by this Indenture, and to 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;  

        (f)              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, bond, debenture, coupon or           other
paper or document, unless requested in writing to do so by the holders of           a
majority in aggregate principal amount of the outstanding Debt Securities
          affected thereby; provided, however, that if the payment within a
          reasonable time to the Trustee of the costs, expenses or liabilities likely to
          be incurred by it in the making of such investigation is, 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 expense or liability as a condition to so proceeding; and  

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

        Section
6.03    No Responsibility for Recitals, etc.  

        The
recitals contained herein and in the Debt Securities (except in the certificate of
authentication of the Trustee or the Authenticating Agent) shall be taken as the
statements of the Company, and the Trustee and the Authenticating Agent assume no
responsibility for the correctness of the same. The Trustee and the Authenticating Agent
make no representations as to the validity or sufficiency of this Indenture or of the Debt
Securities. The Trustee and the Authenticating Agent shall not be accountable for the use
or application by the Company of any Debt Securities or the proceeds of any Debt
Securities authenticated and delivered by the Trustee or the Authenticating Agent in
conformity with the provisions of this Indenture. 

        Section
6.04    Trustee, Authenticating Agent, Paying Agents, Transfer Agents or Registrar May
Own Debt Securities. 

        The
Trustee, any Authenticating Agent, any Paying Agent, any transfer agent or any Debt
Security registrar, in its individual or any other capacity, may become the owner or
pledgee of Debt Securities with the same rights it would have if it were not Trustee,
Authenticating Agent, Paying Agent, transfer agent or Debt Security registrar. 

        Section
6.05    Moneys to be Held in Trust.  

        Subject
to the provisions of Section 12.04, all moneys received by the Trustee or any Paying Agent
shall, until used or applied as herein provided, be held in trust for the purpose for
which they were received, but need not be segregated from other funds except to the extent
required by law. The Trustee and any Paying Agent shall be under no liability for interest
on any money received by it hereunder except as otherwise agreed in writing with the
Company. So long as no Event of Default shall have occurred and be continuing, all
interest allowed on any such moneys, if any, shall be paid from time to time to the
Company upon the written order of the Company, signed by the Chairman of the Board of
Directors, the President, the Chief Operating Officer, a Vice President, the Treasurer or
an Assistant Treasurer of the Company. 

33 

        Section
6.06    Compensation and Expenses of Trustee.  

        The
Company 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 to in writing between the
Company and the Trustee (which shall not be limited by any provision of law in regard to
the compensation of a trustee of an express trust), and the Company will pay or reimburse
the Trustee upon its written request for all documented reasonable expenses, disbursements
and advances incurred or made by the Trustee in accordance with any of the provisions of
this Indenture (including the reasonable compensation and the reasonable expenses and
disbursements of its counsel and of all Persons not regularly in its employ) except any
such expense, disbursement or advance that arises from its negligence, willful misconduct
or bad faith. The Company also covenants to indemnify each of the Trustee (including in
its individual capacity) and any predecessor Trustee (and its officers, agents, directors
and employees) for, and to hold it harmless against, any and all loss, damage, claim,
liability or expense including taxes (other than taxes based on the income of the
Trustee), except to the extent such loss, damage, claim, liability or expense results from
the negligence, willful misconduct or bad faith of such indemnitee, arising out of or in
connection with the acceptance or administration of this trust, including the costs and
expenses of defending itself against any claim or liability in the premises. The
obligations of the Company under this Section to compensate and indemnify the Trustee and
to pay or reimburse the Trustee for documented expenses, disbursements and advances shall
constitute additional indebtedness hereunder. Such additional indebtedness shall be
secured by a lien prior to that of the Debt Securities 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 Debt Securities. 

        Without
prejudice to any other rights available to the Trustee under applicable law, when the
Trustee incurs expenses or renders services in connection with an Event of Default
specified in clause (d), (e) or (f) of Section 5.01, 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. 

        The
provisions of this Section shall survive the resignation or removal of the Trustee and the
defeasance or other termination of this Indenture. 

        Notwithstanding
anything in this Indenture or any Debt Security to the contrary, the Trustee shall have no
obligation whatsoever to advance funds to pay any principal of or interest on or other
amounts with respect to the Debt Securities or otherwise advance funds to or on behalf of
the Company. 

34 

        Section
6.07    Officers’ Certificate as Evidence.  

        Except
as otherwise provided in Sections 6.01 and 6.02, whenever in the administration of the
provisions of this Indenture the Trustee shall deem it necessary or desirable that a
matter be proved or established prior to taking or omitting any action hereunder, such
matter (unless other evidence in respect thereof be herein specifically prescribed) may,
in the absence of negligence, willful misconduct 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, willful
misconduct or bad faith on the part of the Trustee, shall be full warrant to the Trustee
for any action taken or omitted by it under the provisions of this Indenture upon the
faith thereof. 

        Section
6.08    Eligibility of Trustee.  

        The
Trustee hereunder shall at all times be a U.S. Person that is a banking corporation or
national association organized and doing business under the laws of the United States of
America or any state thereof or of the District of Columbia and authorized under such laws
to exercise corporate trust powers, having a combined capital and surplus of at least
fifty million U.S. dollars ($50,000,000) and subject to supervision or examination by
federal, state, or District of Columbia authority. If such corporation or national
association publishes reports of condition at least annually, pursuant to law or to the
requirements of the aforesaid supervising or examining authority, then for the purposes of
this Section the combined capital and surplus of such corporation or national association
shall be deemed to be its combined capital and surplus as set forth in its most recent
records of condition so published. 

        The
Company may not, nor may any Person directly or indirectly controlling, controlled by, or
under common control with the Company, serve as Trustee, notwithstanding that such
corporation or national association shall be otherwise eligible and qualified under this
Article. 

        In
case at any time the Trustee shall cease to be eligible in accordance with the provisions
of this Section, the Trustee shall resign immediately in the manner and with the effect
specified in Section 6.09. 

        If
the Trustee has or shall acquire any “conflicting interest” within the meaning
of §310(b) of the Trust Indenture Act, the Trustee shall either eliminate such
interest or resign, to the extent and in the manner provided by, and subject to, this
Indenture. 

        Section
6.09    Resignation or Removal of Trustee.  

        (a)              The
Trustee, or any trustee or trustees hereafter appointed, may at any time           resign
by giving written notice of such resignation to the Company and by           mailing
notice thereof, at the Company’s expense, to the holders of the           Debt
Securities at their addresses as they shall appear on the Debt Security
          Register. Upon receiving such notice of resignation, the Company shall promptly
          appoint a successor trustee or trustees by written instrument, in duplicate,
          executed by order of its Board of Directors, one copy of which instrument shall
          be delivered to the resigning Trustee and one copy to the successor Trustee. If
          no successor Trustee shall have been so appointed and have accepted appointment
          within 30 days after the mailing of such notice of resignation to the affected
          Securityholders, the resigning Trustee may petition any court of competent
          jurisdiction for the appointment of a successor Trustee, or any Securityholder
          who has been a bona fide holder of a Debt Security or Debt Securities for at
          least six months may, subject to the provisions of Section 5.09, on behalf of
          himself or herself 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.  

35   

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

	 	        (i)              the
Trustee shall fail to comply with the provisions of the last paragraph of
          Section 6.08 after written request therefor by the Company or by any
          Securityholder who has been a bona fide holder of a Debt Security or Debt
          Securities for at least six months;  

	 	        (ii)              the
Trustee shall cease to be eligible in accordance with the provisions of           Section
6.08 and shall fail to resign after written request therefor by the           Company or
by any such Securityholder; or  

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

then, in any such case, the Company
may remove the Trustee and appoint a successor Trustee 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 the provisions of Section 5.09, if no successor Trustee shall have been so appointed
and have accepted appointment within 30 days of the occurrence of any of (i), (ii) or
(iii) above, any Securityholder who has been a bona fide holder of a Debt Security or Debt
Securities for at least six months may, on behalf of himself or herself 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. 

        (c)              Upon
prior written notice to the Company and the Trustee, the holders of a           majority
in aggregate principal amount of the Debt Securities at the time           outstanding
may at any time remove the Trustee and nominate a successor Trustee,           which
shall be deemed appointed as successor Trustee unless within ten Business           Days
after such nomination the Company objects thereto or if no successor           Trustee
shall have been so appointed and shall have accepted appointment within           30 days
after such removal, in which case or in the case of a failure by such           holders
to nominate a successor Trustee, the Trustee so removed or any           Securityholder,
upon the terms and conditions and otherwise as in subsection (a)           of this
Section, may petition any court of competent jurisdiction for an           appointment of
a successor.  

36 

        (d)              Any
resignation or removal of the Trustee and appointment of a successor Trustee
          pursuant to any of the provisions of this Section shall become effective upon
          acceptance of appointment by the successor Trustee as provided in Section 6.10.  

        Section
6.10    Acceptance by Successor Trustee.  

        Any
successor Trustee appointed as provided in Section 6.09 shall execute, acknowledge and
deliver to the Company and to its predecessor Trustee an indenture supplemental hereto
which shall contain such provisions as shall be deemed necessary or desirable to confirm
that all of the rights, powers, trusts and duties of the retiring Trustee shall be vested
in the successor Trustee, and thereupon the resignation or removal of the retiring Trustee
shall become effective and such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, duties and obligations with
respect to the Debt Securities of its predecessor hereunder, with like effect as if
originally named as Trustee herein; but, nevertheless, on the written request of the
Company or of the successor Trustee, the Trustee ceasing to act shall, upon payment of the
amounts then due it pursuant to the provisions of Section 6.06, execute and deliver an
instrument transferring to such successor Trustee all the rights and powers of the Trustee
so ceasing to act and shall duly assign, transfer and deliver to such successor Trustee
all property and money held by such retiring Trustee hereunder. Upon request of any such
successor Trustee, the Company 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 lien upon all
property or funds held or collected by such Trustee to secure any amounts then due it
pursuant to the provisions of Section 6.06. 

        No
successor Trustee shall accept appointment as provided in this Section unless at the time
of such acceptance such successor Trustee shall be eligible and qualified under the
provisions of Section 6.08. 

        In
no event shall a retiring Trustee be liable for the acts or omissions of any successor
Trustee hereunder. 

        Upon
acceptance of appointment by a successor Trustee as provided in this Section, the Company
shall mail notice of the succession of such Trustee hereunder to the holders of Debt
Securities at their addresses as they shall appear on the Debt Security Register. If the
Company fails to mail such notice within ten Business Days after the acceptance of
appointment by the successor Trustee, the successor Trustee shall cause such notice to be
mailed at the expense of the Company. 

        Section
6.11    Succession by Merger, etc.  

        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 of the corporate trust business of the Trustee, shall be the successor of the Trustee
hereunder without the execution or filing of any paper or any further act on the part of
any of the parties hereto, provided, that such corporation shall be otherwise
eligible and qualified under this Article. 

37 

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

        Section
6.12    Authenticating Agents.  

        There
may be one or more Authenticating Agents appointed by the Trustee upon the request of the
Company with power to act on its behalf and subject to its direction in the authentication
and delivery of Debt Securities issued upon exchange or registration of transfer thereof
as fully to all intents and purposes as though any such Authenticating Agent had been
expressly authorized to authenticate and deliver Debt Securities; provided,
however, that the Trustee shall have no liability to the Company for any acts or
omissions of the Authenticating Agent with respect to the authentication and delivery of
Debt Securities. Any such Authenticating Agent shall at all times be a corporation
organized and doing business under the laws of the United States or of any state thereof
or of the District of Columbia authorized under such laws to act as Authenticating Agent,
having a combined capital and surplus of at least $50,000,000 and being subject to
supervision or examination by federal, state or District of Columbia authority. If such
corporation publishes reports of condition at least annually pursuant to law or the
requirements of such 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. If at any time an
Authenticating Agent shall cease to be eligible in accordance with the provisions of this
Section, it shall resign immediately in the manner and with the effect herein specified in
this Section. 

        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, consolidation or
conversion to which any Authenticating Agent shall be a party, or any corporation
succeeding to all or substantially all of the corporate trust business of any
Authenticating Agent, shall be the successor of such Authenticating Agent hereunder, if
such successor corporation is otherwise eligible under this Section without the execution
or filing of any paper or any further act on the part of the parties hereto or such
Authenticating Agent. 

        Any
Authenticating Agent may at any time resign by giving written notice of resignation to the
Trustee and to the Company. The Trustee may at any time terminate the agency of any
Authenticating Agent with respect to the Debt Securities by giving written notice of
termination to such Authenticating Agent and to the Company. Upon receiving such a notice
of resignation or upon such a termination, or in case at any time any Authenticating Agent
shall cease to be eligible under this Section, the Trustee may, and upon the request of
the Company shall, promptly appoint a successor Authenticating Agent eligible under this
Section, shall give written notice of such appointment to the Company and shall mail
notice of such appointment to all holders of Debt Securities as the names and addresses of
such holders appear on the Debt Security Register. 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 herein. 

38 

        The
Company agrees to pay to any Authenticating Agent from time to time reasonable
compensation for its services. Any Authenticating Agent shall have no responsibility or
liability for any action taken by it as such in accordance with the directions of the
Trustee. 

ARTICLE VII  
CONCERNING
THE SECURITYHOLDERS  

        Section
7.01    Action by Securityholders.  

        Whenever
in this Indenture it is provided that the holders of a specified percentage in aggregate
principal amount of the Debt Securities or aggregate liquidation amount of the Capital
Securities may take any action (including the making of any demand or request, the giving
of any notice, consent or waiver or the taking of any other action), the fact that at the
time of taking any such action the holders of such specified percentage have joined
therein may be evidenced (a) by any instrument or any number of instruments of similar
tenor executed by such Securityholders or holders of Capital Securities, as the case may
be, in person or by agent or proxy appointed in writing, or (b) by the record of such
holders of Debt Securities voting in favor thereof at any meeting of such Securityholders
duly called and held in accordance with the provisions of Article VIII or of such holders
of Capital Securities duly called and held in accordance with the provisions of the
Declaration, or (c) by a combination of such instrument or instruments and any such record
of such a meeting of such Securityholders or holders of Capital Securities, as the case
may be, or (d) by any other method the Trustee deems satisfactory. 

        If
the Company shall solicit from the Securityholders any request, demand, authorization,
direction, notice, consent, waiver or other action or revocation of the same, the Company
may, at its option, as evidenced by an Officers’ Certificate, fix in advance a record
date for such Debt Securities for the determination of Securityholders entitled to give
such request, demand, authorization, direction, notice, consent, waiver or other action or
revocation of the same, but the Company shall have no obligation to do so. If such a
record date is fixed, such request, demand, authorization, direction, notice, consent,
waiver or other action or revocation of the same may be given before or after the record
date, but only the Securityholders of record at the close of business on the record date
shall be deemed to be Securityholders for the purposes of determining whether
Securityholders of the requisite proportion of outstanding Debt Securities have authorized
or agreed or consented to such request, demand, authorization, direction, notice, consent,
waiver or other action or revocation of the same, and for that purpose the outstanding
Debt Securities shall be computed as of the record date; provided, however,
that no such authorization, agreement or consent by such Securityholders on the record
date shall be deemed effective unless it shall become effective pursuant to the provisions
of this Indenture not later than six months after the record date. 

39 

        Section
7.02    Proof of Execution by Securityholders.  

        Subject
to the provisions of Sections 6.01, 6.02 and 8.05, proof of the execution of any
instrument by a Securityholder or such Securityholder’s agent or proxy shall be
sufficient if made in accordance with such reasonable rules and regulations as may be
prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The
ownership of Debt Securities shall be proved by the Debt Security Register or by a
certificate of the Debt Security registrar. The Trustee may require such additional proof
of any matter referred to in this Section as it shall deem necessary. 

        The
record of any Securityholders’ meeting shall be proved in the manner provided in
Section 8.06. 

        Section
7.03    Who Are Deemed Absolute Owners.  

        Prior
to due presentment for registration of transfer of any Debt Security, the Company, the
Trustee, any Authenticating Agent, any Paying Agent, any transfer agent and any Debt
Security registrar may deem the Person in whose name such Debt Security shall be
registered upon the Debt Security Register to be, and may treat such Person as, the
absolute owner of such Debt Security (whether or not such Debt Security shall be overdue)
for the purpose of receiving payment of or on account of the principal of and premium, if
any, and interest on such Debt Security and for all other purposes; and none of the
Company, the Trustee, any Authenticating Agent, any Paying Agent, any transfer agent or
any Debt Security registrar shall be affected by any notice to the contrary. All such
payments so made to any holder for the time being or upon such holder’s 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 Debt Security. 

        Section
7.04    Debt Securities Owned by Company Deemed Not Outstanding. 

        In
determining whether the holders of the requisite aggregate principal amount of Debt
Securities have concurred in any direction, consent or waiver under this Indenture, Debt
Securities which are owned by the Company or any other obligor on the Debt Securities or
by any Person directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company (other than the Trust) or any other obligor on
the Debt Securities shall be disregarded and deemed not to be outstanding for the purpose
of any such determination, provided, that for the purposes of determining whether
the Trustee shall be protected in relying on any such direction, consent or waiver, only
Debt Securities which a Responsible Officer of the Trustee actually knows are so owned
shall be so disregarded. Debt Securities so owned which have been pledged in good faith
may be regarded as outstanding for the purposes of this Section if the pledgee shall
establish to the satisfaction of the Trustee the pledgee’s right to vote such Debt
Securities and that the pledgee is not the Company or any such other obligor or Person
directly or indirectly controlling or controlled by or under direct or indirect common
control with the Company or any such other obligor. In the case of a dispute as to such
right, any decision by the Trustee taken upon the advice of counsel shall be full
protection to the Trustee. 

40 

        Section
7.05    Revocation of Consents; Future Holders Bound. 

        At
any time prior to (but not after) the evidencing to the Trustee, as provided in Section
7.01, of the taking of any action by the holders of the percentage in aggregate principal
amount of the Debt Securities specified in this Indenture in connection with such action,
any holder (in cases where no record date has been set pursuant to Section 7.01) or any
holder as of an applicable record date (in cases where a record date has been set pursuant
to Section 7.01) of a Debt Security (or any Debt Security issued in whole or in part in
exchange or substitution therefor) the serial number of which is shown by the evidence to
be included in the Debt Securities the holders of which have consented to such action may,
by filing written notice with the Trustee at the Principal Office of the Trustee and upon
proof of holding as provided in Section 7.02, revoke such action so far as concerns such
Debt Security (or so far as concerns the principal amount represented by any exchanged or
substituted Debt Security). Except as aforesaid any such action taken by the holder of any
Debt Security shall be conclusive and binding upon such holder and upon all future holders
and owners of such Debt Security, and of any Debt Security 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 such Debt Security or any Debt Security
issued in exchange or substitution therefor. 

ARTICLE VIII
 
SECURITYHOLDERS’MEETINGS  

        Section
8.01    Purposes of Meetings.  

        A
meeting of Securityholders may be called at any time and from time to time pursuant to the
provisions of this Article VIII for any of the following purposes: 

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

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

        (c)              to
consent to the execution of an indenture or indentures supplemental hereto
          pursuant to the provisions of Section 9.02; or  

        (d)              to
take any other action authorized to be taken by or on behalf of the holders           of
any specified aggregate principal amount of such Debt Securities under any
          other provision of this Indenture or under applicable law.  

41 

        Section
8.02    Call of Meetings by Trustee.  

        The
Trustee may at any time call a meeting of Securityholders to take any action specified in
Section 8.01, to be held at such time and at such place in The City of New York, the
Borough of Manhattan, or Wilmington, Delaware, as the Trustee shall determine. Notice of
every meeting of the Securityholders, setting forth the time and the place of such meeting
and in general terms the action proposed to be taken at such meeting, shall be mailed to
holders of Debt Securities affected at their addresses as they shall appear on the Debt
Securities Register. Such notice shall be mailed not less than 20 nor more than 180 days
prior to the date fixed for the meeting. 

        Section
8.03    Call of Meetings by Company or Securityholders. 

        In
case at any time the Company pursuant to a Board Resolution, or the holders of at least
10% in aggregate principal amount of the Debt Securities, as the case may be, then
outstanding, shall have requested the Trustee to call a meeting of Securityholders, by
written request setting forth in reasonable detail the action proposed to be taken at the
meeting, and the Trustee shall not have mailed the notice of such meeting within 20 days
after receipt of such request, then the Company or such Securityholders may determine the
time and the place in Lincoln, Nebraska for such meeting and may call such meeting to take
any action authorized in Section 8.01, by mailing notice thereof as provided in Section
8.02. 

        Section
8.04    Qualifications for Voting.  

        To
be entitled to vote at any meeting of Securityholders, a Person shall be (a) a holder of
one or more Debt Securities or (b) a Person appointed by an instrument in writing as proxy
by a holder of one or more Debt Securities. The only Persons who shall be entitled to be
present or to speak at any meeting of Securityholders shall be the Persons entitled to
vote at such meeting and their counsel and any representatives of the Trustee and its
counsel and any representatives of the Company and its counsel. 

        Section
8.05    Regulations.  

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

        The
Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting,
unless the meeting shall have been called by the Company or by Securityholders as provided
in Section 8.03, in which case the Company or the Securityholders calling the meeting, as
the case may be, shall in like manner appoint a temporary chairman. A permanent chairman
and a permanent secretary of the meeting shall be elected by majority vote at the meeting. 

42 

        Subject
to the provisions of Section 7.04, at any meeting each holder of Debt Securities with
respect to which such meeting is being held or proxy therefor shall be entitled to one
vote for each $1,000 principal amount of Debt Securities held or represented by such
holder; provided, however, that no vote shall be cast or counted at any
meeting in respect of any Debt Security challenged as not outstanding and ruled by the
chairman of the meeting to be not outstanding. The chairman of the meeting shall have no
right to vote other than by virtue of Debt Securities held by such chairman or instruments
in writing as aforesaid duly designating such chairman as the Person to vote on behalf of
other Securityholders. Any meeting of Securityholders duly called pursuant to the
provisions of Section 8.02 or 8.03 may be adjourned from time to time by a majority of
those present, whether or not constituting a quorum, and the meeting may be held as so
adjourned without further notice. 

        Section
8.06    Voting.  

        The
vote upon any resolution submitted to any meeting of holders of Debt Securities with
respect to which such meeting is being held shall be by written ballots on which shall be
subscribed the signatures of such holders or of their representatives by proxy and the
serial number or numbers of the Debt Securities held or represented by them. The permanent
chairman of the meeting shall appoint two inspectors of votes who shall count all votes
cast at the meeting for or against any resolution and who shall make and file with the
secretary of the meeting their verified written reports in triplicate of all votes cast at
the meeting. A record in duplicate of the proceedings of each meeting of Securityholders
shall be prepared by the secretary of the meeting and there shall be attached to said
record the original reports of the inspectors of votes on any vote by ballot taken thereat
and affidavits by one or more Persons having knowledge of the facts setting forth a copy
of the notice of the meeting and showing that said notice was mailed as provided in
Section 8.02. The record shall show the serial numbers of the Debt Securities voting in
favor of or against any resolution. The record shall be signed and verified by the
affidavits of the permanent chairman and secretary of the meeting and one of the
duplicates shall be delivered to the Company and the other to the Trustee to be preserved
by the Trustee, the latter to have attached thereto the ballots voted at the meeting. 

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

        Section
8.07    Quorum; Actions.  

        The
Persons entitled to vote a majority in aggregate principal amount of the Debt Securities
then outstanding shall constitute a quorum for a meeting of Securityholders;
provided, however, that if any action is to be taken at such meeting with
respect to a consent, waiver, request, demand, notice, authorization, direction or other
action which may be given by the holders of not less than a specified percentage in
aggregate principal amount of the Debt Securities then outstanding, the Persons holding or
representing such specified percentage in aggregate principal amount of the Debt
Securities then outstanding will constitute a quorum. In the absence of a quorum within 30
minutes of the time appointed for any such meeting, the meeting shall, if convened at the
request of Securityholders, be dissolved. In any other case, the meeting may be adjourned
for a period of not less than 10 days as determined by the permanent chairman of the
meeting prior to the adjournment of such meeting. In the absence of a quorum at any such
adjourned meeting, such adjourned meeting may be further adjourned for a period of not
less than 10 days as determined by the permanent chairman of the meeting prior to the
adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting
shall be given as provided in Section 8.02, except that such notice need be given only
once not less than five days prior to the date on which the meeting is scheduled to be
reconvened. Notice of the reconvening of an adjourned meeting shall state expressly the
percentage, as provided above, of the aggregate principal amount of the Debt Securities
then outstanding which shall constitute a quorum. 

43 

        Except
as limited by the proviso in the first paragraph of Section 9.02, any resolution presented
to a meeting or adjourned meeting duly reconvened at which a quorum is present as
aforesaid may be adopted by the affirmative vote of the holders of a majority in aggregate
principal amount of the Debt Securities then outstanding; provided, however,
that, except as limited by the proviso in the first paragraph of Section 9.02, any
resolution with respect to any consent, waiver, request, demand, notice, authorization,
direction or other action that this Indenture expressly provides may be given by the
holders of not less than a specified percentage in outstanding principal amount of the
Debt Securities may be adopted at a meeting or an adjourned meeting duly reconvened and at
which a quorum is present as aforesaid only by the affirmative vote of the holders of not
less than such specified percentage in aggregate principal amount of the Debt Securities
then outstanding. 

        Any
resolution passed or decision taken at any meeting of holders of Debt Securities duly held
in accordance with this Section shall be binding on all the Securityholders, whether or
not present or represented at the meeting. 

ARTICLE IX
 
SUPPLEMENTAL INDENTURES  

        Section
9.01    Supplemental Indentures without Consent of Securityholders. 

        The
Company, when authorized by a Board Resolution, and the Trustee may from time to time and
at any time enter into an indenture or indentures supplemental hereto, without the consent
of the Securityholders, for one or more of the following purposes: 

        (a)              to
evidence the succession of another corporation to the Company, or successive
          successions, and the assumption by the successor corporation of the covenants,
          agreements and obligations of the Company, pursuant to Article XI hereof;  

        (b)              to
add to the covenants of the Company such further covenants, restrictions or
          conditions for the protection of the holders of Debt Securities as the Board of
          Directors shall consider to be for the protection of the holders of such Debt
          Securities, and to make the occurrence, or the occurrence and continuance, of a
          Default in any of such additional covenants, restrictions or conditions a
          Default or an Event of Default permitting the enforcement of all or any of the
          several remedies provided in this Indenture as herein set forth; provided,
however, that in respect of any such additional           covenant, restriction or
condition 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 Default or may limit the remedies available to the Trustee           upon such
default;  

44 

        (c)              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           such other provisions in regard to matters or questions arising under this
          Indenture, provided, that any such action shall not adversely affect the
          interests of the holders of the Debt Securities then outstanding;  

        (d)              to
add to, delete from, or revise the terms of Debt Securities, including,           without
limitation, any terms relating to the issuance, exchange, registration           or
transfer of Debt Securities, including to provide for transfer procedures and
          restrictions substantially similar to those applicable to the Capital
          Securities, as required by Section 2.05 (for purposes of assuring that no
          registration of Debt Securities is required under the Securities Act), provided,
that any such action shall not adversely affect the interests           of the holders of
the Debt Securities then outstanding (it being understood, for           purposes of this
proviso, that transfer restrictions on Debt Securities           substantially similar to
those applicable to Capital Securities shall not be           deemed to adversely affect
the holders of the Debt Securities);  

        (e)              to
evidence and provide for the acceptance of appointment hereunder by a           successor
Trustee with respect to the Debt Securities and to add to or change           any of the
provisions of this Indenture as shall be necessary to provide for or           facilitate
the administration of the trusts hereunder by more than one Trustee,           pursuant
to the requirements of Section 6.10;  

        (f)              to
make any change (other than as elsewhere provided in this Section) that does
          not adversely affect the rights of any Securityholder in any material respect;
          or  

        (g)              to
provide for the issuance of and establish the form and terms and conditions           of
the Debt Securities, to establish the form of any certifications required to           be
furnished pursuant to the terms of this Indenture or the Debt Securities, or           to
add to the rights of the holders of Debt Securities.  

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

        Any
supplemental indenture authorized by the provisions of this Section may be executed by the
Company and the Trustee without the consent of the holders of any of the Debt Securities
at the time outstanding, notwithstanding any of the provisions of Section 9.02. 

45 

        Section
9.02    Supplemental Indentures with Consent of Securityholders. 

        With
the consent (evidenced as provided in Section 7.01) of the holders of a majority in
aggregate principal amount of the Debt Securities at the time outstanding affected by such
supplemental indenture, the Company, when authorized by a Board Resolution, and the
Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust Indenture Act,
then in effect, applicable to indentures qualified thereunder) 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 supplemental indenture or of modifying in any manner the rights of the
holders of the Debt Securities; provided, however, that no such supplemental
indenture shall, without the consent of the holders of each Debt Security then outstanding
and affected thereby, (i) change the Maturity Date of any Debt Security, or reduce the
principal amount thereof or any premium thereon, or reduce the rate (or manner of
calculation of the rate) or extend the time of payment of interest thereon, or reduce
(other than as a result of the maturity or earlier redemption of any such Debt Security in
accordance with the terms of this Indenture and such Debt Security) or increase the
aggregate principal amount of Debt Securities then outstanding, or change any of the
redemption provisions, or make the principal thereof or any interest or premium thereon
payable in any coin or currency other than United States Dollars, or impair or affect the
right of any Securityholder to institute suit for payment thereof, or (ii) reduce the
aforesaid percentage of Debt Securities the holders of which are required to consent to
any such supplemental indenture; and provided, further, that if the Debt
Securities are held by the Trust or the trustee of the Trust, such supplemental indenture
shall not be effective until the holders of a majority in aggregate liquidation amount of
the outstanding Capital Securities shall have consented to such supplemental indenture;
provided, further, that if the consent of the Securityholder of each
outstanding Debt Security is required, such supplemental indenture shall not be effective
until each holder of the outstanding Capital Securities shall have consented to such
supplemental indenture. 

        Upon
the request of the Company accompanied by a Board Resolution authorizing the execution of
any such supplemental indenture, and upon the filing with the Trustee of evidence of the
consent of Securityholders (and holders of Capital Securities, if required) as aforesaid,
the Trustee shall join with the Company in the execution of such supplemental indenture
unless such supplemental indenture affects the Trustee’s own rights, duties or
immunities under this Indenture or otherwise, in which case the Trustee may in its
discretion, but shall not be obligated to, enter into such supplemental indenture. 

        Promptly
after the execution by the Company and the Trustee of any supplemental indenture pursuant
to the provisions of this Section, the Trustee shall transmit by mail, first class postage
prepaid, a notice, prepared by the Company, setting forth in general terms the substance
of such supplemental indenture, to the Securityholders as their names and addresses appear
upon the Debt Security Register. Any failure of the Trustee to mail such notice, or any
defect therein, shall not, however, in any way impair or affect the validity of any such
supplemental indenture. 

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

        Section
9.03    Effect of Supplemental Indentures.  

        Upon
the execution of any supplemental indenture pursuant to the provisions of this Article IX,
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 Company and the holders of Debt Securities shall
thereafter be determined, exercised and enforced hereunder subject in all respects to such
modifications and amendments and all the terms and conditions of any such supplemental
indenture shall be and be deemed to be part of the terms and conditions of this Indenture
for any and all purposes. 

46 

        Section
9.04    Notation on Debt Securities.  

        Debt
Securities authenticated and delivered after the execution of any supplemental indenture
pursuant to the provisions of this Article IX may bear a notation as to any matter
provided for in such supplemental indenture. If the Company or the Trustee shall so
determine, new Debt Securities so modified as to conform, in the opinion of the Board of
Directors of the Company, to any modification of this Indenture contained in any such
supplemental indenture may be prepared and executed by the Company, authenticated by the
Trustee or the Authenticating Agent and delivered in exchange for the Debt Securities then
outstanding. 

        Section
9.05    Evidence of Compliance of Supplemental Indenture to be Furnished to Trustee. 

        The
Trustee, subject to the provisions of Sections 6.01 and 6.02, shall, in addition to the
documents required by Section 14.06, receive an Officers’ Certificate as conclusive
evidence that any supplemental indenture executed pursuant hereto complies with the
requirements of this Article IX. The Trustee shall also receive an Opinion of Counsel as
conclusive evidence that any supplemental indenture executed pursuant to this Article IX
is authorized or permitted by, and conforms to, the terms of this Article IX and that it
is proper for the Trustee under the provisions of this Article IX to join in the execution
thereof. 

ARTICLE X  
REDEMPTION
OF SECURITIES  

        Section
10.01    Optional Redemption.  

        The
Company shall have the right, subject to the receipt by the Company of the prior approval
from the OTS, if then required under applicable capital guidelines or policies of the OTS,
to redeem the Debt Securities, in whole or (provided that all accrued and unpaid interest
has been paid on all Debt Securities for all Interest Periods terminating on or prior to
such date) from time to time in part, on any Interest Payment Date on or after June 7,
2009 (each, an “Optional Redemption Date”), at the Optional Redemption Price. 

        Section
10.02    Special Event Redemption.  

        If
a Special Event shall occur and be continuing, the Company shall have the right, subject
to the receipt by the Company of prior approval from the OTS, if then required under
applicable capital guidelines or policies of the OTS, to redeem the Debt Securities, in
whole but not in part, at any time within 90 days following the occurrence of such Special
Event (the “Special Redemption Date”), at the Special Redemption Price. In the
event that the Special Redemption Date falls on a day prior to the LIBOR Determination
Date for any Interest Period, then the Company shall be required to pay to
Securityholders, on the Business Day following such LIBOR Determination Date, any
additional amount of interest that would have been payable on the Special Redemption Date
had the amount of interest determined on such LIBOR Determination Date been known on the
first day of such Interest Period. 

47 

        Section
10.03    Notice of Redemption; Selection of Debt Securities. 

        In
case the Company shall desire to exercise the right to redeem all, or, as the case may be,
any part of the Debt Securities, it shall fix a date for redemption and shall mail, or
cause the Trustee to mail (at the expense of the Company), a notice of such redemption at
least 30 and not more than 60 days prior to the date fixed for redemption to the holders
of Debt Securities so to be redeemed as a whole or in part at their last addresses as the
same appear on the Debt Security Register. Such mailing shall be by first class mail. The
notice if mailed in the manner herein provided shall be conclusively presumed to have been
duly given, whether or not the holder receives such notice. In any case, failure to give
such notice by mail or any defect in the notice to the holder of any Debt Security
designated for redemption as a whole or in part shall not affect the validity of the
proceedings for the redemption of any other Debt Security. 

        Each
such notice of redemption shall specify the CUSIP number, if any, of the Debt Securities
to be redeemed, the date fixed for redemption, the price (or manner of calculation of the
price) at which Debt Securities are to be redeemed, the place or places of payment, that
payment will be made upon presentation and surrender of such Debt Securities, that
interest accrued to the date fixed for redemption will be paid as specified in said
notice, and that on and after said date interest thereon or on the portions thereof to be
redeemed will cease to accrue. If less than all the Debt Securities are to be redeemed,
the notice of redemption shall specify the numbers of the Debt Securities to be redeemed.
In case the Debt Securities are to be redeemed in part only, the notice of redemption
shall state the portion of the principal amount thereof to be redeemed and shall state
that on and after the date fixed for redemption, upon surrender of such Debt Security, a
new Debt Security or Debt Securities in principal amount equal to the unredeemed portion
thereof will be issued. 

        Prior
to 10:00 a.m., New York City time, on the Optional Redemption Date or the Special
Redemption Date specified in the notice of redemption given as provided in this Section,
the Company will deposit with the Trustee or with one or more Paying Agents an amount of
money sufficient to redeem on such date all the Debt Securities so called for redemption
at the applicable price therefor, together with unpaid interest accrued to such date. 

        The
Company will give the Trustee notice not less than 45 nor more than 75 days prior to the
date fixed for redemption as to the price at which the Debt Securities are to be redeemed
and the aggregate principal amount of Debt Securities to be redeemed and the Trustee shall
select, in such manner as in its sole discretion it shall deem appropriate and fair, the
Debt Securities or portions thereof (in integral multiples of $1,000) to be redeemed. 

        Section
10.04    Payment of Debt Securities Called for Redemption. 

        If
notice of redemption has been given as provided in Section 10.03, the Debt Securities or
portions of Debt Securities with respect to which such notice has been given shall become
due and payable on the related Optional Redemption Date or Special Redemption Date (as the
case may be) and at the place or places stated in such notice at the applicable price
therefor, together with unpaid interest accrued thereon to said Optional Redemption Date
or the Special Redemption Date (as the case may be), and on and after said Optional
Redemption Date or the Special Redemption Date (as the case may be) (unless the Company
shall default in the payment of such Debt Securities at the redemption price, together
with unpaid interest accrued thereon to said date) interest on the Debt Securities or
portions of Debt Securities so called for redemption shall cease to accrue. On
presentation and surrender of such Debt Securities at a place of payment specified in said
notice, such Debt Securities or the specified portions thereof shall be paid and redeemed
by the Company at the applicable price therefor, together with unpaid interest, if any,
accrued thereon to said Optional Redemption Date or the Special Redemption Date (as the
case may be); provided, however, that interest payable on any Interest Payment Date
on or prior to said Optional Redemption Date or the Special Redemption Date will be paid
to the holders on the relevant regular record date. 

48 

        Upon
presentation of any Debt Security redeemed in part only, the Company shall execute and the
Trustee shall authenticate and make available for delivery to the holder thereof, at the
expense of the Company, a new Debt Security or Debt Securities of authorized denominations
in principal amount equal to the unredeemed portion of the Debt Security so presented. 

ARTICLE XI
 
CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE  

        Section
11.01    Company May Consolidate, etc., on Certain Terms. 

        Nothing
contained in this Indenture or in the Debt Securities shall prevent any consolidation or
merger of the Company with or into any other corporation or corporations (whether or not
affiliated with the Company) or successive consolidations or mergers in which the Company
or its successor or successors shall be a party or parties, or shall prevent any sale,
conveyance, transfer or other disposition of all or substantially all of the property and
assets of the Company or its successor or successors to any other corporation (whether or
not affiliated with the Company, or its successor or successors) authorized to acquire and
operate the same; provided, however, that the Company hereby covenants and
agrees that (i) upon any such consolidation, merger (where the Company is not the
surviving corporation), sale, conveyance, transfer or other disposition, the successor
entity shall be a corporation organized and existing under the laws of the United States
or any state thereof or the District of Columbia (unless such corporation has (1) agreed
to make all payments due in respect of the Debt Securities or, if outstanding, the Trust
Securities and the Capital Securities Guarantee without withholding or deduction for, or
on account of, any taxes, duties, assessments or other governmental charges under the laws
or regulations of the jurisdiction of organization or residence (for tax purposes) of such
corporation or any political subdivision or taxing authority thereof or therein unless
required by applicable law, in which case such corporation shall have agreed to pay such
additional amounts as shall be required so that the net amounts received and retained by
the holders of such Debt Securities or Trust Securities, as the case may be, after payment
of all taxes (including withholding taxes), duties, assessments or other governmental
charges, will be equal to the amounts that such holders would have received and retained
had no such taxes (including withholding taxes), duties, assessments or other governmental
charges been imposed, (2) irrevocably and unconditionally consented and submitted to the
jurisdiction of any United States federal court or New York state court, in each case
located in the Borough of Manhattan, The City of New York, in respect of any action, suit
or proceeding against it arising out of or in connection with this Indenture, the Debt
Securities, the Capital Securities Guarantee or the Declaration and irrevocably and
unconditionally waived, to the fullest extent permitted by law, any objection to the
laying of venue in any such court or that any such action, suit or proceeding has been
brought in an inconvenient forum and (3) irrevocably appointed an agent in The City of New
York for service of process in any action, suit or proceeding referred to in clause (2)
above) and such corporation expressly assumes all of the obligations of the Company under
the Debt Securities, this Indenture, the Capital Securities Guarantee and the Declaration
and (ii) after giving effect to any such consolidation, merger, sale, conveyance,
transfer or other disposition, no Default or Event of Default shall have occurred and be
continuing. 

49 

        Section
11.02    Successor Entity to be Substituted.  

        In
case of any such consolidation, merger, sale, conveyance, transfer or other disposition
contemplated in Section 11.01 and upon the assumption by the successor corporation, by
supplemental indenture, executed and delivered to the Trustee and reasonably satisfactory
in form to the Trustee, of the due and punctual payment of the principal of and premium,
if any, and interest on all of the Debt Securities and the due and punctual performance
and observance of all of the covenants and conditions of this Indenture to be performed or
observed by the Company, such successor corporation shall succeed to and be substituted
for the Company, with the same effect as if it had been named herein as the Company, and
thereupon the predecessor entity shall be relieved of any further liability or obligation
hereunder or upon the Debt Securities. Such successor corporation thereupon may cause to
be signed, and may issue either in its own name or in the name of the Company, any or all
of the Debt Securities issuable hereunder which theretofore shall not have been signed by
the Company and delivered to the Trustee or the Authenticating Agent; and, upon the order
of such successor corporation instead of the Company and subject to all the terms,
conditions and limitations in this Indenture prescribed, the Trustee or the Authenticating
Agent shall authenticate and deliver any Debt Securities which previously shall have been
signed and delivered by the officers of the Company to the Trustee or the Authenticating
Agent for authentication, and any Debt Securities which such successor corporation
thereafter shall cause to be signed and delivered to the Trustee or the Authenticating
Agent for that purpose. All the Debt Securities so issued shall in all respects have the
same legal rank and benefit under this Indenture as the Debt Securities theretofore or
thereafter issued in accordance with the terms of this Indenture as though all of such
Debt Securities had been issued at the date of the execution hereof. 

        Section
11.03    Opinion of Counsel to be Given to Trustee. 

        The
Trustee, subject to the provisions of Sections 6.01 and 6.02, shall receive, in addition
to the Opinion of Counsel required by Section 9.05, an Opinion of Counsel as conclusive
evidence that any consolidation, merger, sale, conveyance, transfer or other disposition,
and any assumption, permitted or required by the terms of this Article XI complies with
the provisions of this Article XI. 

50 

ARTICLE XII
 
SATISFACTION AND DISCHARGE OF INDENTURE  

        Section
12.01    Discharge of Indenture.  

        When
(a) the Company shall deliver to the Trustee for cancellation all Debt Securities
theretofore authenticated (other than any Debt Securities which shall have been destroyed,
lost or stolen and which shall have been replaced or paid as provided in Section 2.06) and
not theretofore canceled, or (b) all the Debt Securities not theretofore canceled or
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 the Company shall deposit with the Trustee, in trust, funds, which shall
be immediately due and payable, sufficient to pay at maturity or upon redemption all of
the Debt Securities (other than any Debt Securities which shall have been destroyed, lost
or stolen and which shall have been replaced or paid as provided in Section 2.06) not
theretofore canceled or delivered to the Trustee for cancellation, including principal and
premium, if any, and interest due or to become due to the Maturity Date, any Optional
Redemption Date or the Special Redemption Date, as the case may be, but excluding,
however, the amount of any moneys for the payment of principal of and premium, if any, or
interest on the Debt Securities (1) theretofore repaid to the Company in accordance with
the provisions of Section 12.04, or (2) paid to any state or to the District of Columbia
pursuant to its unclaimed property or similar laws, and if in the case of either clause
(a) or (b) above the Company shall also pay or cause to be paid all other sums payable
hereunder by the Company, then this Indenture shall cease to be of further effect except
for the provisions of Sections 2.05, 2.06, 3.01, 3.02, 3.04, 6.06, 6.09 and 12.04 hereof,
which shall survive until such Debt Securities shall mature or are redeemed, as the case
may be, and are paid in full. Thereafter, Sections 6.06, 6.09 and 12.04 shall survive, and
the Trustee, on demand of the Company accompanied by an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent herein provided for
relating to the satisfaction and discharge of this Indenture have been complied with, and
at the cost and expense of the Company, shall execute proper instruments acknowledging
satisfaction of and discharging this Indenture, the Company, however, hereby agreeing to
reimburse the Trustee for any costs or expenses thereafter reasonably and properly
incurred by the Trustee in connection with this Indenture or the Debt Securities. 

        Section
12.02    Deposited Moneys to be Held in Trust by Trustee. 

        Subject
to the provisions of Section 12.04, all moneys deposited with the Trustee pursuant to
Section 12.01 shall be held in trust and applied by it to the payment, either directly or
through any Paying Agent (including the Company if acting as its own Paying Agent), to the
holders of the particular Debt Securities for the payment of which such moneys have been
deposited with the Trustee, of all sums due and to become due thereon for principal,
premium, if any, and interest. 

51 

        Section
12.03    Paying Agent to Repay Moneys Held. 

        Upon
the satisfaction and discharge of this Indenture, all moneys then held by any Paying Agent
of the Debt Securities (other than the Trustee) shall, upon demand of the Company, be
repaid to the Company or paid to the Trustee, and thereupon such Paying Agent shall be
released from all further liability with respect to such moneys. 

        Section
12.04    Return of Unclaimed Moneys.  

        Any
moneys deposited with or paid to the Trustee or any Paying Agent for payment of the
principal of and premium, if any, or interest on Debt Securities and not applied but
remaining unclaimed by the holders of Debt Securities for two years after the date upon
which the principal of and premium, if any, or interest on such Debt Securities, as the
case may be, shall have become due and payable, shall be repaid to the Company by the
Trustee or such Paying Agent on written demand; and the holder of any of the Debt
Securities shall thereafter look only to the Company for any payment which such holder may
be entitled to collect and all liability of the Trustee or such Paying Agent with respect
to such moneys shall thereupon cease. 

ARTICLE XIII 
IMMUNITY
OF INCORPORATORS, STOCKHOLDERS,OFFICERS AND DIRECTORS  

        Section
13.01    Indenture and Debt Securities Solely Corporate Obligations. 

        No
recourse for the payment of the principal of or premium, if any, or interest on any Debt
Security, or for any claim based thereon or otherwise in respect thereof, and no recourse
under or upon any obligation, covenant or agreement of the Company in this Indenture or in
any supplemental indenture, or in any such Debt Security, or because of the creation of
any indebtedness represented thereby, shall be had against any incorporator, stockholder,
officer, director, employee or agent, as such, past, present or future, of the Company or
of any predecessor or successor corporation of the Company, either directly or through the
Company or any successor corporation of the Company, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or penalty
or otherwise; it being expressly understood that all such liability is hereby expressly
waived and released as a condition of, and as a consideration for, the execution of this
Indenture and the issue of the Debt Securities. 

ARTICLE XIV

MISCELLANEOUS PROVISIONS  

        Section
14.01    Successors.  

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

        Section
14.02    Official Acts by Successor Entity.  

        Any
act or proceeding by any provision of this Indenture authorized or required to be done or
performed by any board, committee or officer of the Company shall and may be done and
performed with like force and effect by the like board, committee, officer or other
authorized Person of any entity that shall at the time be the lawful successor of the
Company. 

52 

        Section
14.03    Surrender of Company Powers.  

        The
Company, by instrument in writing executed by authority of 2/3 (two thirds) of its Board
of Directors and delivered to the Trustee, may surrender any of the powers reserved to the
Company and thereupon such power so surrendered shall terminate both as to the Company and
as to any permitted successor. 

        Section
14.04    Addresses for Notices, etc.  

        Any
notice or demand which by any provision of this Indenture is required or permitted to be
given or served by the Trustee or by the Securityholders on the Company may be given or
served in writing by being deposited postage prepaid by registered or certified mail in a
post office letter box addressed (until another address is filed by the Company with the
Trustee for such purpose) to the Company at 1235 “N” Street, P.O. Box 83009,
Lincoln, Nebraska 68501-3009 Attention: Gilbert G. Lundstrom. Any notice, direction,
request or demand by any Securityholder or the Company to or upon the Trustee shall be
deemed to have been sufficiently given or made, for all purposes, if given or made in
writing at the office of Wilmington Trust Company at Rodney Square North, 1100 North
Market Street, Wilmington, DE 19890-0001, Attention: Corporate Trust Administration. 

        Section
14.05    Governing Law.  

        This
Indenture and the Debt Securities shall each be governed by, and construed in accordance
with, the laws of the State of New York, without regard to conflict of laws principles of
said State other than Section 5-1401 of the New York General Obligations Law. 

        Section
14.06    Evidence of Compliance with Conditions Precedent. 

        Upon
any application or demand by the Company to the Trustee to take any action under any of
the provisions of this Indenture, the Company shall furnish to the Trustee an
Officers’ Certificate stating that in the opinion of the signers all conditions
precedent, if any, provided for in this Indenture relating to the proposed action have
been complied with and an Opinion of Counsel stating that, in the opinion of such counsel,
all such conditions precedent have been complied with (except that no such Opinion of
Counsel is required to be furnished to the Trustee in connection with the authentication
and issuance of Debt Securities. 

        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 (except
certificates delivered pursuant to Section 3.05) shall include (a) a statement that the
person making such certificate or opinion has read such covenant or condition and the
definitions relating thereto; (b) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such
certificate or opinion are based; (c) a statement that, in the opinion of such person, he
or she has made such examination or investigation as is necessary to enable him or her to
express an informed opinion as to whether or not such covenant or condition has been
complied with; and (d) a statement as to whether or not, in the opinion of such person,
such condition or covenant has been complied with. 

53 

        Section
14.07    Business Day Convention.  

        Notwithstanding
anything to the contrary contained herein, if any Interest Payment Date, other than the
Maturity Date, any Optional Redemption Date or the Special Redemption Date, falls on a day
that is not a Business Day, then any interest payable will be paid on, and such Interest
Payment Date will be moved to, the next succeeding Business Day, and additional interest
will accrue for each day that such payment is delayed as a result thereof. If the Maturity
Date, any Optional Redemption Date or the Special Redemption Date falls on a day that is
not a Business Day, then the principal, premium, if any, and/or interest payable on such
date will be paid on the next succeeding Business Day, and no additional interest will
accrue in respect of such payment made on such next succeeding Business Day. 

        Section
14.08    Table of Contents, Headings, etc.  

        The
table of contents and the titles and headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be considered a
part hereof, and shall in no way modify or restrict any of the terms or provisions hereof. 

        Section
14.09    Execution in 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
14.10    Separability.  

        In
case any one or more of the provisions contained in this Indenture or in the Debt
Securities shall for any reason be held to be invalid, illegal or unenforceable in any
respect, such invalidity, illegality or unenforceability shall not affect any other
provisions of this Indenture or of such Debt Securities, but this Indenture and such Debt
Securities shall be construed as if such invalid, illegal or unenforceable provision had
never been contained herein or therein. 

        Section
14.11    Assignment.  

        Subject
to Article XI, the Company will have the right at all times to assign any of its rights or
obligations under this Indenture and the Debt Securities to a direct or indirect wholly
owned Subsidiary of the Company; provided, however, that, in the event of
any such assignment, the Company will remain liable for all such obligations. Subject to
the foregoing, this Indenture is binding upon and inures to the benefit of the parties
hereto and their respective successors and assigns. This Indenture may not otherwise be
assigned by the parties thereto. 

54 

        Section
14.12    Acknowledgment of Rights.  

        The
Company acknowledges that, with respect to any Debt Securities held by the Trust or a
trustee of the Trust, if such trustee of the Trust fails to enforce its rights under this
Indenture as the holder of Debt Securities held as the assets of the Trust after the
holders of a majority in aggregate liquidation amount of the outstanding Capital
Securities of the Trust have so directed in writing such trustee, a holder of record of
such Capital Securities may, to the fullest extent permitted by law, institute legal
proceedings directly against the Company to enforce such trustee’s rights under this
Indenture without first instituting any legal proceedings against such trustee or any
other Person. Notwithstanding the foregoing, if an Event of Default has occurred and is
continuing and such event is attributable to the failure of the Company to pay interest or
premium, if any, on or principal of the Debt Securities on the date such interest,
premium, if any, or principal is otherwise due and payable (or, in the case of redemption,
on the related Optional Redemption Date or the Special Redemption Date (as the case may
be)), the Company acknowledges that a holder of outstanding Capital Securities of the
Trust may directly institute a proceeding against the Company for enforcement of payment
to such holder directly of the principal of or premium, if any, or interest on the Debt
Securities having an aggregate principal amount equal to the aggregate liquidation amount
of the Capital Securities of such holder on or after the respective due date (or Optional
Redemption Date or Special Redemption Date (as the case may be)) specified in the Debt
Securities. 

ARTICLE XV

SUBORDINATION OF DEBT SECURITIES  

        Section
15.01    Agreement to Subordinate.  

        The
Company covenants and agrees, and each holder of Debt Securities issued hereunder and
under any supplemental indenture (the “Additional Provisions”) by such
holder’s acceptance thereof likewise covenants and agrees, that all Debt Securities
shall be issued subject to the provisions of this Article XV; and each holder of a Debt
Security, whether upon original issue or upon transfer or assignment thereof, accepts and
agrees to be bound by such provisions. 

        The
payment by the Company of the payments due on all Debt Securities issued hereunder and
under any Additional Provisions shall, to the extent and in the manner hereinafter set
forth, be subordinated and junior in right of payment to the prior payment in full of all
Senior Indebtedness of the Company, whether outstanding at the date of this Indenture or
thereafter incurred. 

        No
provision of this Article XV shall  prevent the  occurrence of any default or Event of
Default hereunder. 

        Section
15.02    Default on Senior Indebtedness. 

        In
the event and during the continuation of any default by the Company in the payment of
principal, premium, interest or any other payment due on any Senior Indebtedness of the
Company following any applicable grace period, or in the event that the maturity of any
Senior Indebtedness of the Company has been accelerated because of a default, and such
acceleration has not been rescinded or canceled and such Senior Indebtedness has not been
paid in full, then, in either case, no payment shall be made by the Company with respect
to the payments due on the Debt Securities. 

55 

        In
the event that, notwithstanding the foregoing, any payment shall be received by the
Trustee or any Securityholder when such payment is prohibited by the preceding paragraph
of this Section, such payment shall, subject to Section 15.06, be held in trust for the
benefit of, and shall be paid over or delivered to, the holders of Senior Indebtedness or
their respective representatives, or to the trustee or trustees under any indenture
pursuant to which any of such Senior Indebtedness may have been issued, as their
respective interests may appear, but only to the extent that the holders of the Senior
Indebtedness (or their representative or representatives or trustee) notify the Trustee in
writing within 90 days of such payment of the amounts then due and owing on the Senior
Indebtedness and only the amounts specified in such notice to the Trustee shall be paid to
the holders of Senior Indebtedness. 

        Section
15.03    Liquidation; Dissolution; Bankruptcy.  

        Upon
any payment by the Company or distribution of assets of the Company of any kind or
character, whether in cash, property or securities, to creditors upon any dissolution,
winding-up, liquidation or reorganization of the Company, whether voluntary or involuntary
or in bankruptcy, insolvency, receivership or other proceedings, all amounts due upon all
Senior Indebtedness of the Company shall first be paid in full, or payment thereof
provided for in money in accordance with its terms, before any payment is made by the
Company on the Debt Securities; and upon any such dissolution, winding-up, liquidation or
reorganization, any payment by the Company, or distribution of assets of the Company of
any kind or character, whether in cash, property or securities, to which the
Securityholders or the Trustee would be entitled to receive from the Company, except for
the provisions of this Article XV, shall be paid by the Company, or by any receiver,
trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or
distribution, or by the Securityholders or by the Trustee under this Indenture if received
by them or it, directly to the holders of Senior Indebtedness of the Company (pro rata to
such holders on the basis of the respective amounts of Senior Indebtedness held by such
holders, as calculated by the Company) or their representative or representatives, or to
the trustee or trustees under any indenture pursuant to which any instruments evidencing
such Senior Indebtedness may have been issued, as their respective interests may appear,
to the extent necessary to pay such Senior Indebtedness in full, in money or money’s
worth, after giving effect to any concurrent payment or distribution to or for the holders
of such Senior Indebtedness, before any payment or distribution is made to the
Securityholders or to the Trustee. 

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

56 

        For
purposes of this Article XV, the words “cash, property or securities” shall not
be deemed to include shares of stock of the Company as reorganized or readjusted, or
securities of the Company or any other corporation provided for by a plan of
reorganization or readjustment, the payment of which is subordinated at least to the
extent provided in this Article XV with respect to the Debt Securities to the payment of
all Senior Indebtedness of the Company, that may at the time be outstanding,
provided, that (a) such Senior Indebtedness is assumed by the new corporation, if
any, resulting from any such reorganization or readjustment, and (b) the rights of the
holders of such Senior Indebtedness are not, without the consent of such holders, altered
by such reorganization or readjustment. The consolidation of the Company with, or the
merger of the Company into, another corporation or the liquidation or dissolution of the
Company following the conveyance, transfer or other disposition of its property as an
entirety, or substantially as an entirety, to another corporation upon the terms and
conditions provided for in Article XI of this Indenture shall not be deemed a dissolution,
winding-up, liquidation or reorganization for the purposes of this Section if such other
corporation shall, as a part of such consolidation, merger, conveyance or transfer, comply
with the conditions stated in Article XI of this Indenture. Nothing in Section 15.02 or in
this Section shall apply to claims of, or payments to, the Trustee under or pursuant to
Section 6.06 of this Indenture. 

        Section
15.04    Subrogation.  

        Subject
to the payment in full of all Senior Indebtedness of the Company, the Securityholders
shall be subrogated to the rights of the holders of such Senior Indebtedness to receive
payments or distributions of cash, property or securities of the Company applicable to
such Senior Indebtedness until all payments due on the Debt Securities shall be paid in
full; and, for the purposes of such subrogation, no payments or distributions to the
holders of such Senior Indebtedness of any cash, property or securities to which the
Securityholders or the Trustee would be entitled except for the provisions of this Article
XV, and no payment over pursuant to the provisions of this Article XV to or for the
benefit of the holders of such Senior Indebtedness by Securityholders or the Trustee,
shall, as between the Company, its creditors other than holders of Senior Indebtedness of
the Company, and the holders of the Debt Securities be deemed to be a payment or
distribution by the Company to or on account of such Senior Indebtedness. It is understood
that the provisions of this Article XV are, and are intended, solely for the purposes of
defining the relative rights of the holders of the Debt Securities, on the one hand, and
the holders of such Senior Indebtedness, on the other hand. 

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

57 

        Upon
any payment or distribution of assets of the Company referred to in this Article XV, the
Trustee, subject to the provisions of Article VI of this Indenture, and the
Securityholders shall be entitled to conclusively rely upon any order or decree made by
any court of competent jurisdiction in which such dissolution, winding-up, liquidation or
reorganization proceedings are pending, or a certificate of the receiver, trustee in
bankruptcy, liquidation trustee, agent or other Person making such payment or
distribution, delivered to the Trustee or to the Securityholders, for the purposes of
ascertaining the Persons entitled to participate in such distribution, the holders of
Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable
thereon, the amount or amounts paid or distributed thereon and all other facts pertinent
thereto or to this Article XV. 

        Section
15.05    Trustee to Effectuate Subordination.  

        Each
Securityholder, by such Securityholder’s acceptance thereof, authorizes and directs
the Trustee on such Securityholder’s behalf to take such action as may be necessary
or appropriate to effectuate the subordination provided in this Article XV and appoints
the Trustee such Securityholder’s attorney-in-fact for any and all such purposes. 

        Section
15.06    Notice by the Company.  

        The
Company shall give prompt written notice to a Responsible Officer of the Trustee at the
Principal Office of the Trustee of any fact known to the Company that would prohibit the
making of any payment of moneys to or by the Trustee in respect of the Debt Securities
pursuant to the provisions of this Article XV. Notwithstanding the provisions of this
Article XV or any other provision of this Indenture or any Additional Provisions, the
Trustee shall not be charged with knowledge of the existence of any facts that would
prohibit the making of any payment of moneys to or by the Trustee in respect of the Debt
Securities pursuant to the provisions of this Article XV unless and until a Responsible
Officer of the Trustee at the Principal Office of the Trustee shall have received written
notice thereof from the Company or a holder or holders of Senior Indebtedness or from any
trustee therefor; and before the receipt of any such written notice, the Trustee, subject
to the provisions of Article VI of this Indenture, shall be entitled in all respects to
assume that no such facts exist; provided, however, that if the Trustee
shall not have received the notice provided for in this Section at least two Business Days
prior to the date upon which by the terms hereof any money may become payable for any
purpose (including, without limitation, the payment of the principal of or premium, if
any, or interest on any Debt Security), then, anything herein contained to the contrary
notwithstanding, the Trustee shall have full power and authority to receive such money and
to apply the same to the purposes for which they were received, and shall not be affected
by any notice to the contrary that may be received by it within two Business Days prior to
such date. 

58 

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

        Section
15.07    Rights of the Trustee; Holders of Senior Indebtedness. 

        The
Trustee, in its individual capacity, shall be entitled to all the rights set forth in this
Article XV in respect of any Senior Indebtedness at any time held by it, to the same
extent as any other holder of Senior Indebtedness, and nothing in this Indenture or any
Additional Provisions shall deprive the Trustee of any of its rights as such holder. 

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

        Nothing
in this Article XV shall apply to claims of, or payments to, the Trustee under or pursuant
to Section 6.06. 

        Section
15.08    Subordination May Not Be Impaired.  

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

59 

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

60 

        Wilmington
Trust Company, in its capacity as Trustee, hereby accepts the trusts in this Indenture
declared and provided, upon the terms and conditions herein above set forth. 

        IN
WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed by
their respective officers thereunto duly authorized, as of the day and year first above
written. 

		TIERONE CORPORATION
	

 	By:  /s/ Gilbert G. Lundstrom
		        Gilbert G. Lundstrom
		        Chairman and Chief Executive Officer
	

 	WILMINGTON TRUST COMPANY,
		as Trustee
	

 	By:  /s/ Denise M. Geran
		        Name: Denise M. Geran
		        Title: Vice President

61 

EXHIBIT A 

FORM OF DEBT SECURITY 

[FORM OF FACE OF
SECURITY] 

        THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY STATE SECURITIES LAWS OR ANY OTHER APPLICABLE
SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE
REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN
THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT
TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE HOLDER OF THIS SECURITY OR
ANY INTEREST OR PARTICIPATION HEREIN, BY ITS ACCEPTANCE HEREOF OR THEREOF, AS THE CASE MAY
BE, AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY OR ANY INTEREST OR
PARTICIPATION HEREIN PRIOR TO THE DATE WHICH IS THE LATER OF (i) TWO YEARS (OR SUCH
SHORTER PERIOD OF TIME AS PERMITTED BY RULE 144(k) UNDER THE SECURITIES ACT) AFTER THE
LATER OF (Y) THE DATE OF ORIGINAL ISSUANCE HEREOF AND (Z) THE LAST DATE ON WHICH THE
COMPANY OR ANY AFFILIATE (AS DEFINED IN RULE 405 UNDER THE SECURITIES ACT) OF THE COMPANY
WAS THE HOLDER OF THIS SECURITY OR SUCH INTEREST OR PARTICIPATION (OR ANY PREDECESSOR
THERETO) AND (ii) SUCH LATER DATE, IF ANY, AS MAY BE REQUIRED BY ANY SUBSEQUENT CHANGE IN
APPLICABLE LAW, ONLY (A) TO THE COMPANY, (B) PURSUANT TO RULE 144A UNDER THE SECURITIES
ACT (“RULE 144A”), TO A PERSON THE HOLDER REASONABLY BELIEVES IS A
“QUALIFIED INSTITUTIONAL BUYER”, AS DEFINED IN RULE 144A, 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, (C) PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT TO AN “ACCREDITED
INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (a) (1), (2), (3), (7) OR (8) OF RULE
501 UNDER THE SECURITIES ACT THAT IS ACQUIRING THIS SECURITY OR SUCH INTEREST OR
PARTICIPATION FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN ACCREDITED INVESTOR, FOR
INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY
DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, (D) PURSUANT TO OFFERS AND SALES TO
NON-US PERSONS THAT OCCUR OUTSIDE THE UNITED STATES PURSUANT TO REGULATION S UNDER THE
SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S RIGHT PRIOR TO ANY SUCH
OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (C) OR (E) ABOVE TO REQUIRE THE DELIVERY OF AN
OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO IT IN
ACCORDANCE WITH THE INDENTURE, A COPY OF WHICH MAY BE OBTAINED FROM THE COMPANY. THE
HOLDER OF THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN, BY ITS ACCEPTANCE HEREOF
OR THEREOF, AS THE CASE MAY BE, AGREES THAT IT WILL COMPLY WITH THE FOREGOING
RESTRICTIONS. 

A-1 

        THE
HOLDER OF THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN, BY ITS ACCEPTANCE HEREOF
OR THEREOF, AS THE CASE MAY BE, ALSO AGREES, REPRESENTS AND WARRANTS THAT IT IS NOT AN
EMPLOYEE BENEFIT, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER PLAN OR ARRANGEMENT SUBJECT TO
TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
(“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE
“CODE”) (EACH A “PLAN”), OR AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE
“PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN THE ENTITY AND NO
PERSON INVESTING “PLAN ASSETS” OF ANY PLAN MAY ACQUIRE OR HOLD THIS SECURITY OR
ANY INTEREST OR PARTICIPATION HEREIN, UNLESS SUCH PURCHASER OR HOLDER IS ELIGIBLE FOR THE
EXEMPTIVE RELIEF AVAILABLE UNDER U.S. DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS
EXEMPTION 96-23, 95-60, 91-38, 90-1 OR 84-14 OR ANOTHER APPLICABLE EXEMPTION OR ITS
PURCHASE AND HOLDING OF THIS SECURITY OR SUCH INTEREST OR PARTICIPATION IS NOT PROHIBITED
BY SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE WITH RESPECT TO SUCH PURCHASE OR
HOLDING. ANY PURCHASER OR HOLDER OF THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN
WILL BE DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING HEREOF OR THEREOF, AS THE
CASE MAY BE, THAT EITHER (i) IT IS NOT AN EMPLOYEE BENEFIT PLAN WITHIN THE MEANING OF
SECTION 3(3) OF ERISA, OR A PLAN TO WHICH SECTION 4975 OF THE CODE IS APPLICABLE, A
TRUSTEE OR OTHER PERSON ACTING ON BEHALF OF AN EMPLOYEE BENEFIT PLAN OR PLAN, OR ANY OTHER
PERSON OR ENTITY USING THE ASSETS OF ANY EMPLOYEE BENEFIT PLAN OR PLAN TO FINANCE SUCH
PURCHASE, OR (ii) SUCH PURCHASE AND HOLDING WILL NOT RESULT IN A PROHIBITED TRANSACTION
UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE FOR WHICH THERE IS NO APPLICABLE
STATUTORY OR ADMINISTRATIVE EXEMPTION. 

        IN
CONNECTION WITH ANY TRANSFER, THE HOLDER OF THIS SECURITY WILL DELIVER TO THE REGISTRAR
AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS MAY BE REQUIRED BY THE
INDENTURE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

        THIS
SECURITY WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN MINIMUM DENOMINATIONS OF $100,000
AND MULTIPLES OF $1,000 IN EXCESS THEREOF. ANY ATTEMPTED TRANSFER OF THIS SECURITY IN
DENOMINATIONS OF LESS THAN $100,000 SHALL BE DEEMED TO BE VOID AND OF NO LEGAL EFFECT
WHATSOEVER. ANY SUCH PURPORTED TRANSFEREE SHALL BE DEEMED NOT TO BE THE HOLDER OF THIS
SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN FOR ANY PURPOSE, INCLUDING, BUT NOT
LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS SECURITY OR SUCH INTEREST OR
PARTICIPATION, AND SUCH PURPORTED TRANSFEREE SHALL BE DEEMED TO HAVE NO INTEREST
WHATSOEVER IN THIS SECURITY OR ANY INTEREST OR PARTICIPATION HEREIN. 

A-2 

        THIS
OBLIGATION IS NOT A DEPOSIT AND IS NOT INSURED BY THE UNITED STATES OR ANY AGENCY OR FUND
OF THE UNITED STATES, INCLUDING THE FEDERAL DEPOSIT INSURANCE CORPORATION (THE
“FDIC”). THIS OBLIGATION IS SUBORDINATED TO THE CLAIMS OF THE DEPOSITORS AND THE
CLAIMS OF GENERAL AND SECURED CREDITORS OF THE COMPANY, IS INELIGIBLE AS COLLATERAL FOR A
LOAN BY THE COMPANY OR ANY OF ITS SUBSIDIARIES AND IS NOT SECURED. 

Floating Rate Junior
Subordinated Debt Security due 2034
of 
TierOne Corporation  

        TierOne
Corporation, a savings and loan holding company incorporated in Wisconsin (the “Company”,
which term includes any successor permitted under the Indenture (as defined herein)), for
value received, promises to pay to Wilmington Trust Company, not in its individual
capacity but solely as Institutional Trustee for TierOne Capital Trust I, a Delaware
statutory trust, or registered assigns, the principal amount of [_____________________]
Dollars ($[_____________________]) on June 7, 2034 (the “Maturity Date”) (or
any Optional Redemption Date or the Special Redemption Date, each as defined herein, or
any earlier date of acceleration of the maturity of this Debt Security), and to pay
interest on the outstanding principal amount of this Debt Security from April 26, 2004,
or from the most recent Interest Payment Date (as defined below) to which interest has
been paid or duly provided for, quarterly (subject to deferral as set forth herein) in
arrears on March 7th, June 7th, September 7th and
December 7th of each year, commencing on June 7, 2004 (each, an “Interest
Payment Date”), at a floating rate per annum, which, with respect to any Interest
Period (as defined in the Indenture), will be equal to LIBOR (as defined in the
Indenture), as determined on the LIBOR Determination Date (as defined in the Indenture)
for such Interest Period (or, in the case of the first Interest Period, will be 1.11%),
plus 2.80 % (the “Interest Rate”) (provided that the Interest Rate for
any Interest Period may not exceed the highest rate permitted by New York law, as the
same may be modified by United States law of general application) until the principal
hereof shall have been paid or duly provided for, and on any overdue principal and
(without duplication and to the extent that payment of such interest is enforceable under
applicable law) on any overdue installment of interest at an annual rate equal to the
then applicable Interest Rate, compounded quarterly. The amount of interest payable for
any Interest Period shall be computed on the basis of a 360-day year and the actual
number of days elapsed in such Interest Period.  

A-3 

        The
interest installment so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in the Indenture, be paid to the Person in whose name this
Debt Security (or one or more Predecessor Securities, as defined in the Indenture) is
registered at the close of business on the “regular record date” for such
interest installment, which shall be the fifteenth day prior to such Interest Payment
Date, whether or not such day is a Business Day (as defined herein). Any such interest
installment (other than Deferred Interest (as defined herein)) not punctually paid or duly
provided for shall forthwith cease to be payable to the holders on such regular record
date and may be paid to the Person in whose name this Debt Security (or one or more
Predecessor Securities) is registered at the close of business on a special record date to
be fixed by the Trustee for the payment of such defaulted interest, notice whereof shall
be given to the holders of the Debt Securities not less than 10 days prior to such special
record date, all as more fully provided in the Indenture. 

        Payment
of the principal of and premium, if any, and interest on this Debt Security due on the
Maturity Date, any Optional Redemption Date or the Special Redemption Date, as the case
may be, shall be made in immediately available funds against presentation and surrender of
this Debt Security at the office or agency of the Trustee maintained for that purpose in
Wilmington, Delaware, or at the office or agency of any other Paying Agent appointed by
the Company maintained for that purpose in Wilmington, Delaware or Lincoln, Nebraska.
Payment of interest on this Debt Security due on any Interest Payment Date other than the
Maturity Date, any Optional Redemption Date or the Special Redemption Date, as the case
may be, shall be made at the option of the Company by check mailed to the holder thereof
at such address as shall appear in the Debt Security Register or by wire transfer of
immediately available funds to an account appropriately designated by the holder hereof.
Notwithstanding the foregoing, so long as the holder of this Debt Security is the
Institutional Trustee, payment of the principal of and premium, if any, and interest on
this Debt Security shall be made in immediately available funds when due at such place and
to such account as may be designated by the Institutional Trustee. All payments in respect
of this Debt Security shall be payable in any coin or currency of the United States of
America that at the time of payment is legal tender for payment of public and private
debts. 

        Notwithstanding
anything to the contrary contained herein, if any Interest Payment Date, other than the
Maturity Date, any Optional Redemption Date or the Special Redemption Date, falls on a day
that is not a Business Day, then any interest payable will be paid on, and such Interest
Payment Date will be moved to, the next succeeding Business Day, and additional interest
will accrue for each day that such payment is delayed as a result thereof. If the Maturity
Date, any Optional Redemption Date or the Special Redemption Date falls on a day that is
not a Business Day, then the principal, premium, if any, and/or interest payable on such
date will be paid on the next succeeding Business Day, and no additional interest will
accrue in respect of such payment made on such next succeeding Business Day. 

A-4 

        So
long as no Event of Default has occurred and is continuing, the Company shall have the
right, from time to time and without causing an Event of Default, to defer payments of
interest on the Debt Securities by extending the interest payment period on the Debt
Securities at any time and from time to time during the term of the Debt Securities, for
up to 20 consecutive quarterly periods (each such extended interest payment period,
together with all previous and further consecutive extensions thereof, is referred to
herein as an “Extension Period”). No Extension Period may end on a date other
than an Interest Payment Date or extend beyond the Maturity Date, any Optional Redemption
Date or the Special Redemption Date, as the case may be. During any Extension Period,
interest will continue to accrue on the Debt Securities, and interest on such accrued
interest (such accrued interest and interest thereon referred to herein as “Deferred
Interest”) will accrue at an annual rate equal to the Interest Rate applicable during
such Extension Period, compounded quarterly from the date such Deferred Interest would
have been payable were it not for the Extension Period, to the extent permitted by
applicable law. No interest or Deferred Interest (except any Additional Amounts (as
defined in the Indenture) that may be due and payable) shall be due and payable during an
Extension Period, except at the end thereof. At the end of any Extension Period, the
Company shall pay all Deferred Interest then accrued and unpaid on the Debt Securities;
provided, however, that during any Extension Period, the Company may not (i)
declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a
liquidation payment with respect to, any of the Company’s capital stock, (ii) make
any payment of principal of or premium, if any, or interest on or repay, repurchase or
redeem any debt securities of the Company that rank pari passu in all respects with
or junior in interest to the Debt Securities or (iii) make any payments under any
guarantees of the Company that rank in all respects pari passu with or junior in
respect to the Capital Securities Guarantee (other than (a) repurchases, redemptions or
other acquisitions of shares of capital stock of the Company (A) in connection with any
employment contract, benefit plan or other similar arrangement with or for the benefit of
one or more employees, officers, directors or consultants, (B) in connection with a
dividend reinvestment or stockholder stock purchase plan or (C) in connection with the
issuance of capital stock of the Company (or securities convertible into or exercisable
for such capital stock), as consideration in an acquisition transaction entered into prior
to such Extension Period, (b) as a result of any exchange or conversion of any class or
series of the Company’s capital stock (or any capital stock of a subsidiary of the
Company) for any class or series of the Company’s capital stock or of any class or
series of the Company’s indebtedness for any class or series of the Company’s
capital stock, (c) the purchase of fractional interests in shares of the Company’s
capital stock pursuant to the conversion or exchange provisions of such capital stock or
the security being converted or exchanged, (d) any declaration of a dividend in connection
with any stockholder’s rights plan, or the issuance of rights, stock or other
property under any stockholder’s rights plan, or the redemption or repurchase of
rights pursuant thereto or (e) any dividend in the form of stock, warrants, options or
other rights where the dividend stock or the stock issuable upon exercise of such
warrants, options or other rights is the same stock as that on which the dividend is being
paid or ranks pari passu with or junior to such stock). Prior to the termination of
any Extension Period, the Company may further extend such Extension Period,
provided, that no Extension Period (including all previous and further consecutive
extensions that are part of such Extension Period) shall exceed 20 consecutive quarterly
periods. Upon the termination of any Extension Period and upon the payment of all Deferred
Interest, the Company may commence a new Extension Period, subject to the foregoing
requirements. The Company must give the Trustee notice of its election to begin or extend
an Extension Period at least one Business Day prior to the regular record date applicable
to the next Interest Payment Date. 

A-5 

        The
indebtedness evidenced by this Debt Security is, to the extent provided in the Indenture,
subordinate and junior in right of payment to the prior payment in full of all Senior
Indebtedness (as defined in the Indenture), and this Debt Security is issued subject to
the provisions of the Indenture with respect thereto. Each holder of this Debt Security,
by accepting the same, (a) agrees to and shall be bound by such provisions, (b) authorizes
and directs the Trustee on such holder’s behalf to take such action as may be
necessary or appropriate to acknowledge or effectuate the subordination so provided and
(c) appoints the Trustee such holder’s attorney-in-fact for any and all such
purposes. Each holder hereof, by such holder’s acceptance hereof, hereby waives all
notice of the acceptance of the subordination provisions contained herein and in the
Indenture by each holder of Senior Indebtedness, whether now outstanding or hereafter
incurred, and waives reliance by each such holder upon said provisions. 

        The
Company waives diligence, presentment, demand for payment, notice of nonpayment, notice of
protest, and all other demands and notices. 

        This
Debt Security shall not be entitled to any benefit under the Indenture hereinafter
referred to and shall not be valid or become obligatory for any purpose until the
certificate of authentication hereon shall have been signed by or on behalf of the
Trustee. 

        The
provisions of this Debt Security are continued on the reverse side hereof and such
continued provisions shall for all purposes have the same effect as though fully set forth
at this place. 

A-6 

        IN
WITNESS WHEREOF, the Company has duly executed this certificate. 

		TierOne Corporation
	

 	By:  ______________________________
		        Name:
		        Title:

Dated:  
 ______________________, ____ 

CERTIFICATE OF
AUTHENTICATION 

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

		WILMINGTON TRUST COMPANY,
		not in its individual capacity but solely as
		the Trustee
	

 	By:  ______________________________
		        Authorized Officer

Dated:    
 ______________________, ____ 

A-7 

[FORM OF REVERSE OF
SECURITY] 

        This
Debt Security is one of a duly authorized series of debt securities of the Company
(collectively, the “Debt Securities”), all issued or to be issued pursuant to an
Indenture (the “Indenture”), dated as of April 26, 2004, duly executed and
delivered between the Company and Wilmington Trust Company, as Trustee (the
“Trustee”), to which Indenture and all indentures supplemental thereto reference
is hereby made for a description of the rights, limitations of rights, obligations, duties
and immunities thereunder of the Trustee, the Company and the holders of the Debt
Securities of which this Debt Security is a part. 

        Upon
the occurrence and continuation of a Tax Event, an Investment Company Event or a Capital
Treatment Event (each, a “Special Event”), the Company shall have the right to
redeem this Debt Security, at its option, in whole with all other Debt Securities but not
in part, at any time, within 90 days following the occurrence of such Special Event (the
“Special Redemption Date”) at the Special Redemption Price (as defined herein).
In the event that the Special Redemption Date falls on a day prior to the LIBOR
Determination Date for any Interest Period, then the Company shall be required to pay to
Securityholders, on the Business Day following such LIBOR Determination Date, any
additional amount of interest that would have been payable on the Special Redemption Date
had the amount of interest determined on such LIBOR Determination Date been known on the
first day of such Interest Period. 

        The
Company shall also have the right to redeem this Debt Security at its option, in whole or
(provided that all accrued and unpaid interest has been paid on all Debt Securities for
all Interest Periods terminating on or prior to such date) from time to time in part, on
any Interest Payment Date on or after April 7, 2009 (each, an “Optional Redemption
Date”), at the Optional Redemption Price (as defined herein). 

        Any
redemption pursuant to the preceding two paragraphs will be made, subject to receipt by
the Company of prior approval from the Office of Thrift Supervision (the “OTS”)
if then required under applicable capital guidelines or policies of the OTS, upon not less
than 30 days’ nor more than 60 days’ prior written notice. If the Debt
Securities are only partially redeemed by the Company, the Debt Securities will be
redeemed pro rata or by any other method utilized by the Trustee. In the event of
redemption of this Debt Security in part only, a new Debt Security or Debt Securities for
the unredeemed portion hereof will be issued in the name of the holder hereof upon the
cancellation hereof. 

        “Optional
Redemption Price” means an amount in cash equal to 100% of the principal amount of
this Debt Security being redeemed plus unpaid interest accrued thereon to the related
Optional Redemption Date. 

        “Special
Redemption Price” means, with respect to the redemption of this Debt Security
following a Special Event, an amount in cash equal to 103.525% of the principal amount of
this Debt Security to be redeemed prior to June 7, 2005 and thereafter equal to the
percentage of the principal amount of this Debt Security that is specified below for the
Special Redemption Date plus unpaid interest accrued thereon to the Special Redemption
Date: 

A-8 

		
	Special Redemption During the 12-Month	
	Period beginning June 7,	Percent of Principal Amount
	2005                         	103.140%
	2006                         	102.355%
	2007                         	101.570%
	2008                         	100.785%
	2009 and thereafter 	100.000%

        In
case an Event of Default, as defined in the Indenture, shall have occurred and be
continuing, the principal of all of the Debt Securities may be declared, and, in certain
cases, shall ipso facto become, due and payable, and upon any such
declaration of acceleration shall become due and payable, in each case, in the manner,
with the effect and subject to the conditions provided in the Indenture. 

        The
Indenture contains provisions permitting the Company and the Trustee, with the consent of
the holders of a majority in aggregate principal amount of the Debt Securities at the time
outstanding affected thereby, as specified in the Indenture, to execute supplemental
indentures for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of the Indenture or of any supplemental indenture or of
modifying in any manner the rights of the holders of the Debt Securities; provided,
however, that no such supplemental indenture shall, among other things, without the
consent of the holders of each Debt Security then outstanding and affected thereby
(i) change the Maturity Date of any Debt Security, or reduce the principal amount
thereof or any premium thereon, or reduce the rate (or manner of calculation of the rate)
or extend the time of payment of interest thereon, or reduce (other than as a result of
the maturity or earlier redemption of any such Debt Security in accordance with the terms
of the Indenture and such Debt Security) or increase the aggregate principal amount of
Debt Securities then outstanding, or change any of the redemption provisions, or make the
principal thereof or any interest or premium thereon payable in any coin or currency other
than United States Dollars, or impair or affect the right of any holder to institute suit
for payment thereof, or (ii) reduce the aforesaid percentage of Debt Securities the
holders of which are required to consent to any such supplemental indenture. The Indenture
also contains provisions permitting the holders of a majority in aggregate principal
amount of the Debt Securities at the time outstanding, on behalf of the holders of all the
Debt Securities, to waive any past default in the performance of any of the covenants
contained in the Indenture, or established pursuant to the Indenture, and its
consequences, except (a) a default in payments due in respect of any of the Debt
Securities, (b) in respect of covenants or provisions of the Indenture which cannot
be modified or amended without the consent of the holder of each Debt Security affected,
or (c) in respect of the covenants of the Company relating to its ownership of Common
Securities of the Trust. Any such consent or waiver by the holder of this Debt Security
(unless revoked as provided in the Indenture) shall be conclusive and binding upon such
holder and upon all future holders and owners of this Debt Security and of any Debt
Security issued in exchange herefor or in place hereof (whether by registration of
transfer or otherwise), irrespective of whether or not any notation of such consent or
waiver is made upon this Debt Security. 

A-9 

        No
reference herein to the Indenture and no provision of this Debt Security or of the
Indenture shall alter or impair the obligation of the Company, which is absolute and
unconditional, to make all payments due on this Debt Security at the time and place and at
the rate and in the money herein prescribed. 

        As
provided in the Indenture and subject to certain limitations herein and therein set forth,
this Debt Security is transferable by the holder hereof on the Debt Security Register (as
defined in the Indenture) of the Company, upon surrender of this Debt Security for
registration of transfer at the office or agency of the Trustee in Wilmington, Delaware,
or at any other office or agency of the Company in Wilmington, Delaware or Lincoln,
Nebraska, accompanied by a written instrument or instruments of transfer in form
satisfactory to the Company or the Trustee duly executed by the holder hereof or such
holder’s attorney duly authorized in writing, and thereupon one or more new Debt
Securities of authorized denominations and for the same aggregate principal amount will be
issued to the designated transferee or transferees. No service charge will be made for any
such registration of transfer, but the Company or the Trustee may require payment of a sum
sufficient to cover any tax, fee or other governmental charge payable in relation thereto
as specified in the Indenture. 

        Prior
to due presentment for registration of transfer of this Debt Security, the Company, the
Trustee, any Authenticating Agent, any Paying Agent, any transfer agent and the Debt
Security registrar may deem and treat the holder hereof as the absolute owner hereof
(whether or not this Debt Security shall be overdue and notwithstanding any notice of
ownership or writing hereon) for the purpose of receiving payment of the principal of and
premium, if any, and interest on this Debt Security and for all other purposes, and none
of the Company, the Trustee, any Authenticating Agent, any Paying Agent, any transfer
agent or any Debt Security registrar shall be affected by any notice to the contrary. 

        As
provided in the Indenture and subject to certain limitations herein and therein set forth,
Debt Securities are exchangeable for a like aggregate principal amount of Debt Securities
of different authorized denominations, as requested by the holder surrendering the same. 

        The
Debt Securities are issuable only in registered certificated form without coupons. 

        No
recourse shall be had for the payment of the principal of or premium, if any, or interest
on this Debt Security, or for any claim based hereon, or otherwise in respect hereof, or
based on or in respect of the Indenture, against any incorporator, stockholder, officer,
director, employee or agent, past, present or future, as such, of the Company or of any
predecessor or successor corporation of the Company, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or penalty
or otherwise, all such liability being, by the acceptance hereof and as part of the
consideration for the issuance hereof, expressly waived and released. 

A-10 

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

        THIS
DEBT SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES OF SAID STATE OTHER THAN
SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 

A-11Exhibit 4.8 to Deluxe Corporation Form 10-Q

Exhibit 4.8 

364-DAY REVOLVING CREDIT AGREEMENT 

Dated as of July 22, 2004 

among 

DELUXE CORPORATION, 

BANK ONE, NA, 

as Administrative Agent, 

CREDIT SUISSE FIRST BOSTON, 

as Syndication Agent, 

THE BANK OF NEW YORK,

THE BANK OF TOKYO-MITSUBISHI, LTD., and

WACHOVIA BANK, NATIONAL ASSOCIATION, 

as Documentation Agents 

and 

THE OTHER FINANCIAL INSTITUTIONS PARTY HERETO 

arranged by 

J.P. MORGAN SECURITIES INC. and

CREDIT SUISSE FIRST BOSTON, 

as Co-Lead Arrangers and Joint Book Runners 

TABLE OF CONTENTS  

	Section		Page
	 
	ARTICLE I      DEFINITIONS  	1 
	 
	1.01	 	Certain Defined Terms 	 	1	 
	1.02	 	Other Interpretive Provisions 	 	15 	 
	1.03	 	Accounting Principles 	 	16 	 
	 
	ARTICLE II      THE CREDITS  	16 
	 
	2.01	 	The Revolving Credit; Conversion to Term Loan 	 	16	 
	2.02	 	Loan Accounts; Notes	 	17	 
	2.03	 	Procedure for Committed Borrowing	 	17	 
	2.04	 	Conversion and Continuation Elections for Committed Borrowings	 	18	 
	2.05	 	Bid Borrowings	 	19	 
	2.06	 	Procedure for Bid Borrowings	 	20	 
	2.07	 	Termination or Reduction of Commitments; Increase of Commitments	 	23	 
	2.08	 	Optional Prepayments	 	24	 
	2.09	 	Extension of Revolving Termination Date	 	24	 
	2.10	 	Repayment	 	25	 
	2.11	 	Interest	 	25	 
	2.12	 	Fees	 	26	 
	2.13	 	Computation of Fees and Interest	 	27	 
	2.14	 	Payments by the Company	 	27	 
	2.15	 	Payments by the Banks to the Agent	 	28	 
	2.16	 	Sharing of Payments, Etc.	 	28	 
	 
	ARTICLE III      TAXES, YIELD PROTECTION AND ILLEGALITY  	29 
	 
	3.01	 	Taxes 	 	29 	 
	3.02	 	Illegality 	 	32 	 
	3.03	 	Increased Costs and Reduction of Return 	 	32	 
	3.04	 	Funding Losses 	 	33	 
	3.05	 	Inability to Determine Rates 	 	34	 
	3.06	 	Reserves on Offshore Rate Committed Loans 	 	34	 
	3.07	 	Certificates of Banks 	 	34	 
	3.08	 	Substitution of Banks 	 	34	 
	3.09	 	Survival 	 	35	 
	 
	ARTICLE IV      CONDITIONS PRECEDENT  	35 
	 
	4.01	 	Conditions to Effectiveness of Commitments and to Initial Loans 	 	35	 
	4.02	 	Conditions to All Borrowings 	 	36	 
	 
	ARTICLE V      REPRESENTATIONS AND WARRANTIES  	37 
	 
	5.01	 	Corporate Existence and Power 	 	37	 
	5.02	 	Corporate Authorization; No Contravention 	 	37	 
	5.03	 	Governmental Authorization 	 	38	 

ii. 

	Section		Page
	 
	5.04	 	Binding Effect	 	38	 
	5.05	 	Litigation 	 	38	 
	5.06	 	No Default 	 	38	 
	5.07	 	ERISA Compliance 	 	38	 
	5.08	 	Use of Proceeds; Margin Regulations 	 	39	 
	5.09	 	Title to Properties 	 	39	 
	5.10	 	Taxes 	 	39	 
	5.11	 	Financial Condition 	 	40	 
	5.12	 	Environmental Matters 	 	40	 
	5.13	 	Regulated Entities 	 	40	 
	5.14	 	No Burdensome Restrictions 	 	40	 
	5.15	 	Copyrights, Patents, Trademarks and Licenses, etc. 	 	40	 
	5.16	 	Subsidiaries 	 	41	 
	5.17	 	Insurance 	 	41	 
	5.18	 	Full Disclosure 	 	41	 
	5.19	 	Reportable Transaction 	 	41	 
	5.20	 	Solvency 	 	41	 
	 
	ARTICLE VI      AFFIRMATIVE COVENANTS  	42 
	 
	6.01	 	Financial Statements 	 	42	 
	6.02	 	Certificates; Other Information 	 	42	 
	6.03	 	Notices 	 	43	 
	6.04	 	Preservation of Corporate Existence, Etc. 	 	44	 
	6.05	 	Maintenance of Property 	 	44	 
	6.06	 	Insurance 	 	44	 
	6.07	 	Payment of Obligations 	 	44	 
	6.08	 	Compliance with Laws 	 	45	 
	6.09	 	Compliance with ERISA 	 	45	 
	6.10	 	Inspection of Property and Books and Records 	 	45	 
	6.11	 	Environmental Laws 	 	46	 
	6.12	 	Use of Proceeds 	 	46	 
	6.13	 	Guarantors 	 	46	 
	 
	ARTICLE VII      NEGATIVE COVENANTS  	46 
	 
	7.01	 	Limitation on Liens 	 	46	 
	7.02	 	Disposition of Assets 	 	48	 
	7.03	 	Consolidations and Mergers 	 	48	 
	7.04	 	Transactions with Affiliates 	 	49	 
	7.05	 	Use of Proceeds  	 	49	 
	7.06	 	Restricted Payments 	 	49	 
	7.07	 	ERISA 	 	50	 
	7.08	 	Change in Business 	 	50	 
	7.09	 	Accounting Changes 	 	50	 
	7.10	 	Interest Coverage 	 	50	 
	7.11	 	Subsidiary Indebtedness 	 	50	 
	 
	ARTICLE VIII      EVENTS OF DEFAULT  	51 
	 
	8.01	 	Event of Default 	 	51	 

iii. 

	Section		Page
	 
	8.02	 	Remedies	 	53	 
	8.03	 	Rights Not Exclusive 	 	53	 
	 
	ARTICLE IX      THE AGENT  	53 
	 
	9.01	 	Appointment and Authorization 	 	53	 
	9.02	 	Delegation of Duties 	 	54	 
	9.03	 	Liability of Agent 	 	54	 
	9.04	 	Reliance by Agent 	 	54	 
	9.05	 	Notice of Default 	 	55	 
	9.06	 	Credit Decision 	 	55	 
	9.07	 	Indemnification 	 	55	 
	9.08	 	Agent in Individual Capacity 	 	56	 
	9.09	 	Successor Agent 	 	56	 
	9.10	 	Withholding Tax 	 	57	 
	 
	ARTICLE X      MISCELLANEOUS  	57 
	 
	10.01   	 	Amendments and Waivers 	 	57	 
	10.02   	 	Notices 	 	58	 
	10.03   	 	No Waiver; Cumulative Remedies 	 	59	 
	10.04   	 	Costs and Expenses 	 	59	 
	10.05   	 	Indemnity 	 	59	 
	10.06   	 	Payments Set Aside 	 	60	 
	10.07   	 	Successors and Assigns 	 	61	 
	10.08   	 	Assignments, Participations, etc. 	 	61	 
	10.09   	 	Set-off 	 	63	 
	10.10   	 	Notification of Addresses, Lending Offices, Etc. 	 	63	 
	10.11   	 	Counterparts 	 	64	 
	10.12   	 	Severability 	 	64	 
	10.13   	 	No Third Parties Benefited 	 	64	 
	10.14   	 	Governing Law and Jurisdiction 	 	64	 
	10.15   	 	Waiver of Jury Trial 	 	64	 
	10.16   	 	Entire Agreement 	 	65	 
	10.17   	 	USA PATRIOT ACT NOTIFICATION 	 	65	 
	 
	ARTICLE XI      TERMINATION OF EXISTING 364-DAY CREDIT AGREEMENT  	65 

iv. 

	     ANNEX I	 	Pricing Grid	 
	 
	SCHEDULES 	 
	 
	     Schedule 2.01	 	List of Commitments and Pro Rata Shares	 
	     Schedule 5.05	 	Litigation Schedule	 
	     Schedule 5.07	 	ERISA Matters	 
	     Schedule 5.12	 	Environmental Schedule	 
	     Schedule 5.16	 	List of Subsidiaries and Material Equity Investments	 
	     Schedule 7.01	 	Existing Liens	 
	     Schedule 10.02	 	Offshore and Domestic Lending Offices, Addresses for Notices	 
	 
	EXHIBITS 	 
	 
	     Exhibit A	 	Form of Compliance Certificate	 
	     Exhibit B	 	Form of Notice of Borrowing	 
	     Exhibit C	 	Form of Notice of Conversion/Continuation	 
	     Exhibit D	 	Form of Invitation for Competitive Bids	 
	     Exhibit E	 	Form of Competitive Bid Request	 
	     Exhibit F	 	Form of Competitive Bid	 
	     Exhibit G-1	 	Form of Committed Loan Note	 
	     Exhibit G-2	 	Form of Bid Loan Note	 
	     Exhibit H	 	Form of Opinion of Anthony C. Scarfone, General Counsel to the Company and the initial Guarantor	 
	     Exhibit I	 	Form of Assignment and Acceptance	 

v. 

364-DAY REVOLVING CREDIT AGREEMENT  

        This 364-DAY
REVOLVING CREDIT AGREEMENT is entered into as of July 22, 2004, among DELUXE CORPORATION, a Minnesota corporation (the
“Company”), the several financial institutions from time to time party to this Agreement (collectively,
the “Banks”; individually, a “Bank”), and BANK ONE, NA, with its principal office in
Chicago, Illinois, as administrative agent (in such capacity, the “Agent”) for the Banks. 

        WHEREAS, the Banks
have agreed to make available to the Company a revolving credit facility upon the terms and conditions set forth in this
Agreement; 

        NOW, THEREFORE, in
consideration of the mutual agreements, provisions and covenants contained herein, the parties agree as follows:

ARTICLE I 

DEFINITIONS  

	  	1.01  	  	Certain Defined Terms.   The following terms have the following meanings:  

	    	             “Absolute
Rate” has the meaning specified in subsection 2.06(c).  

	    	             “Absolute
Rate Auction” means a solicitation of Competitive Bids setting forth Absolute
Rates pursuant to Section 2.06.  

	    	             “Absolute
Rate Bid Loan” means a Bid Loan that bears interest at a rate determined with
reference to the Absolute Rate.  

	    	             “Acquisition”means
any transaction or series of related transactions for the purpose of or resulting,
directly or indirectly, in (a) the acquisition of all or substantially all of the assets
of a Person, or of any material part of the business and operations or division of a
Person, (b) the acquisition of in excess of 50% of the capital stock, partnership
interests or equity of any Person, or otherwise causing any Person to become a
Subsidiary, or (c) a merger or consolidation or any other combination with another
Person (other than a Person that is a Subsidiary) provided that the Company or a
Subsidiary is the surviving entity.  

	    	             “Affiliate”means,
as to any Person, any other Person which, directly or indirectly, is in control of, is
controlled by, or is under common control with, such Person. A Person shall be deemed to
control another Person if the controlling Person possesses, directly or indirectly, the
power to direct or cause the direction of the management and policies of the other
Person, whether through the ownership of voting securities, by contract, or otherwise.  

	    	             “Agent” means
Bank One in its capacity as administrative agent for the Banks hereunder, and any
successor agent arising under Section 9.09.  

	    	             “Agent-Related
Persons” means Bank One in its capacity as Agent and any successor agent arising
under Section 9.09, together with their respective Affiliates 

1. 

	  	(including, in the case of Bank One, J.P. Morgan
Securities Inc.), the Syndication Agent and the Documentation Agents, together with their respective Affiliates, and the
officers, directors, employees, agents and attorneys-in-fact of such Persons and Affiliates. 

	    	             “Agent’s
Payment Office” means the address for payments set forth on Schedule 10.02
hereto in relation to the Agent, or such other address as the Agent may from time to time
specify.  

	    	             “Agreement” means
this 364-Day Revolving Credit Agreement. 

	    	             “Applicable
Facility Fee Rate” means, at any time, the percentage rate per annum at which
the Facility Fee (as defined in Section 2.12) accrues at such time as set forth in the
pricing grid on Annex I. 

	    	             “Applicable
Margin” means (i) with respect to Base Rate Committed Loans, the amount set
forth below the indicated Level Status opposite the heading “Base Rate Applicable
Margin” and (ii) with respect to Offshore Rate Committed Loans, the amount set
forth below the indicated Level Status opposite the heading “LIBO Rate Applicable
Margin” in the pricing grid set forth on Annex I. The Applicable Margin
shall automatically change in respect of all Committed Loans then outstanding or as to
which a Notice of Borrowing has been delivered as of the date of any public announcement
by S&P or Moody’s resulting in a change of Level Status.  

	    	             “Applicable
Utilization Fee Rate” means, at any time, the percentage rate per annum at which
the Utilization Fee (as defined in Section 2.12) accrues at such time as set forth in the
pricing grid on Annex I. 

	    	             “Arrangers”means
J.P. Morgan Securities Inc. and Credit Suisse First Boston.  

	    	             “Assignee”has
the meaning specified in subsection 10.08(a).  

	    	             “Assignment
and Acceptance” has the meaning specified in Section 10.08(a).  

	    	             “Attorney
Costs” means and includes all reasonable fees and disbursements of any law firm
or other external counsel, the reasonable allocated cost of internal legal services and
all reasonable disbursements of internal counsel.  

	    	             “Bank”has
the meaning specified in the introductory clause hereto.  

	    	             “Bank
One” means Bank One, NA, a national banking association having its principal
office in Chicago, Illinois, in its individual capacity, and its successors.  

	    	             “Bankruptcy
Code” means the Federal Bankruptcy Reform Act of 1978 (11 U.S.C. §101, et
seq.).  

	    	             “Base
Rate” means, for any day, a fluctuating rate of interest per annum equal to (i)
the higher of (a) the Prime Rate for such day and (b) the sum of (A) the Federal Funds
Effective Rate for such day and (B) one-half of one percent (0.5%) per annum, plus(ii)
the then Applicable Margin, changing as and when the Applicable Margin changes.  

2. 

	    	             “Base
Rate Committed Loan” means a Committed Loan that bears interest based on the
Base Rate.  

	    	             “Bid
Borrowing” means a Borrowing hereunder consisting of one or more Bid Loans made
to the Company on the same day by one or more Banks.  

	    	             “Bid
Loan” means a Loan by a Bank to the Company under Section 2.05, which may
be a LIBOR Bid Loan or an Absolute Rate Bid Loan.  

	    	             “Bid
Loan Lender” means, in respect of any Bid Loan, the Bank making such Bid Loan to
the Company.  

	    	             “Bid
Loan Note” has the meaning specified in Section 2.02.  

	    	             “Borrowing”means
a borrowing hereunder consisting of Loans of the same Type (in the case of Committed
Loans) made to the Company on the same day by one or more of the Banks under Article II,
and may be a Committed Borrowing or a Bid Borrowing and, other than in the case of Base
Rate Committed Loans, having the same Interest Period.  

	    	             “Borrowing
Date” means any date on which a Borrowing occurs under Section 2.03.  

	    	             “Business
Day” means any day other than a Saturday, Sunday or other day on which
commercial banks in New York City or Chicago are authorized or required by law to close
and, if the applicable Business Day relates to any Offshore Rate Loan, means such a day
on which dealings are carried on in the applicable offshore dollar interbank market.  

	    	             “Capital
Adequacy Regulation” means any guideline, request or directive of any central
bank or other Governmental Authority, or any other law, rule or regulation, whether or
not having the force of law, in each case, regarding capital adequacy of any bank or of
any corporation controlling a bank.  

	    	             “Closing
Date” means the date on which all conditions precedent set forth in Section 4.01
are satisfied or waived by all Banks (or, in the case of subsection 4.01(e), waived
by the Person entitled to receive such payment).  

	    	             “Code”means
the Internal Revenue Code of 1986, and regulations promulgated thereunder.  

	    	             “Combined
Commitment” means the sum of (i) the aggregate of the Commitments of all Banks
hereunder, plus (ii) the aggregate of the “Commitments” of all “Banks”under
(and as such terms are defined in) the 2004 5-Year Credit Agreement.  

	    	             “Combined
Utilized Amount” means, for any date, the sum of (i) the aggregate principal
amount of all outstanding Loans (including all Bid Loans) as of such date, plus (ii) the
“Aggregate Outstanding Credit Exposure” (including all “Bid Loans”)
as of such date under (and as defined in) the 2004 5-Year Credit Agreement.  

3. 

	    	             “Commitment”,
as to each Bank, has the meaning specified in Section 2.01.  

	    	             “Committed
Borrowing” means a Borrowing hereunder consisting of Committed Loans made on the
same day by the Banks ratably according to their respective Pro Rata Shares and, in the
case of Offshore Rate Committed Loans, having the same Interest Periods.  

	    	             “Committed
Loan” means a Loan by a Bank to the Company under Section 2.01, and may be
an Offshore Rate Committed Loan or a Base Rate Committed Loan (each, a “Type” of
Committed Loan).  

	    	             “Committed
Loan Note” has the meaning specified in Section 2.02.  

	    	             “Competitive
Bid” means an offer by a Bank to make a Bid Loan in accordance with subsection 2.06(c).  

	    	             “Competitive
Bid Request” has the meaning specified in subsection 2.06(a).  

	    	             “Compliance
Certificate” means a certificate substantially in the form of Exhibit A.  

	    	             “Contingent
Obligation” means, as applied to any Person, any material direct or indirect
liability of that Person with respect to any Indebtedness, lease, dividend, Surety
Instrument or other obligation (the “primary obligations”) of another Person
(the “primary obligor”), including any obligation of that Person, whether or
not contingent, (a) to purchase, repurchase or otherwise acquire such primary
obligations or any property constituting direct or indirect security therefor, or (b) to
advance or provide funds (i) for the payment or discharge of any such primary
obligation, or (ii) to maintain working capital or equity capital of the primary
obligor or otherwise to maintain the net worth or solvency or any balance sheet item,
level of income or financial condition of the primary obligor, or (c) to purchase
property, securities or services primarily for the purpose of assuring the owner of any
such primary obligation of the ability of the primary obligor to make payment of such
primary obligation, or (d) otherwise to assure or hold harmless the holder of any
such primary obligation against loss in respect thereof; in each case (a), (b), (c) or
(d), including arrangements wherein the rights and remedies of the holder of the primary
obligation are limited to repossession or sale of certain property of such Person. The
amount of any Contingent Obligation shall be deemed equal to the lesser of (x) the
stated or determinable amount of the primary obligation in respect of which such
Contingent Obligation is made or, if not stated or if indeterminable, the maximum
reasonably anticipated liability in respect thereof, or (y) any limitation of such
Contingent Obligation contained in the instrument or agreement creating such Contingent
Obligation.  

	    	             “Contractual
Obligation” means, as to any Person, any provision either of any security issued
by such Person or of any agreement, undertaking, contract, indenture, mortgage, deed of
trust or other instrument, document or agreement to which such Person is a party or by
which it or any of its property is bound and which in either case is material to such
Person.  

4. 

	    	             “Conversion/Continuation
Date” means any date on which, under Section 2.04, the Company (a) converts
Committed Loans of one Type to another Type, or (b) continues Committed Loans of the
same Type, but with a new Interest Period, in the case of Committed Loans having Interest
Periods expiring on such date.  

	    	             “Conversion
Date” is defined in Section 2.01(b). 

	    	             “Converted
Loan Termination Date” means the date that is one year after the Conversion Date
(or, if such date is not a Business Day, on the immediately preceding Business Day), or
such earlier date on which the Loans shall be required to be paid pursuant to Section
8.02.  

	    	             “Default”means
any event or circumstance which, with the giving of notice, the lapse of time, or both,
would (if not cured or otherwise remedied during such time) constitute an Event of
Default.  

	    	             “Documentation
Agents” means The Bank of New York, The Bank of Tokyo-Mitsubishi, Ltd. and
Wachovia Bank, National Association, in their capacity as documentation agents for the
credit transaction evidenced by this Agreement.  

	    	             “Dollars”,
“dollars” and “$” each mean lawful money of the United
States.  

	    	             “Eligible
Assignee” means (i) any Bank party hereto as of the Closing Date, (ii) a
commercial bank organized under the laws of the United States, or any state thereof, and
having a combined capital and surplus of at least $500,000,000; (iii) a commercial
bank organized under the laws of any other country which is a member of the Organization
for Economic Cooperation and Development (the “OECD”), or a political
subdivision of any such country, and having a combined capital and surplus of at least
$500,000,000, provided that such bank is acting through a branch or agency located in the
United States; or (iv) a Person that is primarily engaged in the business of
commercial banking and that is (A) a Subsidiary of a Bank, (B) a Subsidiary of
a Person of which a Bank is a Subsidiary, or (C) a Person of which a Bank is a
Subsidiary; provided that any such bank or Person shall also have senior unsecured
long-term debt ratings which are rated at least A- (or the equivalent) as publicly
announced by S&P or A3 (or the equivalent) as publicly announced by Moody’s.  

	    	             “Environmental
Claims” means all claims, however asserted, by any Governmental Authority or
other Person alleging potential liability or responsibility for violation of any
Environmental Law, or for release or injury to the environment.  

	    	             “Environmental
Laws” means all federal, state or local laws, statutes, common law duties,
rules, regulations, ordinances and codes, together with all administrative orders,
directed duties, licenses, authorizations and permits of, and agreements with, any
Governmental Authorities, in each case relating to environmental, health, safety and land
use matters.  

	    	             “ERISA”means
the Employee Retirement Income Security Act of 1974, and regulations promulgated
thereunder.  

5. 

	    	             “ERISA
Affiliate” means any trade or business (whether or not incorporated) under
common control with the Company within the meaning of Section 414(b) or (c) of the
Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to
Section 412 of the Code).  

	    	             “ERISA
Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a
withdrawal by the Company or any ERISA Affiliate from a Pension Plan subject to Section 4063
of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2)
of ERISA) or a cessation of operations which is treated as such a withdrawal under Section 4062(e)
of ERISA; (c) a complete or partial withdrawal by the Company or any ERISA Affiliate
from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization;
(d) the filing of a notice of intent to terminate, the treatment of a Plan amendment
as a termination under Section 4041 or 4041A of ERISA of, or the commencement of
proceedings by the PBGC to terminate, a Pension Plan or Multiemployer Plan; (e) an
event or condition which might reasonably be expected to constitute grounds under Section 4042
of ERISA for the termination of, or the appointment of a trustee to administer, any
Pension Plan or Multiemployer Plan; or (f) the imposition of any liability under
Title IV of ERISA, other than PBGC premiums due but not delinquent under Section 4007
of ERISA, upon the Company or any ERISA Affiliate.  

	    	             “Event
of Default” means any of the events or circumstances specified in Section 8.01.  

	    	             “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and regulations
promulgated thereunder.  

	    	             “Existing
Bridge Credit Agreement” means that certain Bridge Revolving Credit Agreement,
dated as of May 24, 2004, by and among the Company, the lenders parties thereto, and Bank
One, NA, as administrative agent, as the same may be amended, restated, supplemented or
otherwise modified and as in effect from time to time.  

	    	             “Existing
Credit Agreements” means, collectively, (i) the Existing 5-Year Credit
Agreement, (ii) the 2004 5-Year Credit Agreement, and (iii) the Existing Bridge Credit
Agreement.  

	    	             “Existing
5-Year Credit Agreement” means that certain 5-Year Revolving Credit Agreement,
dated as of August 19, 2002, by and among the Company, the lenders parties thereto and
Bank One, NA, as administrative agent, as the same may be amended, restated, supplemented
or otherwise modified and as in effect from time to time.  

	    	             “Existing
364-Day Credit Agreement” means that certain Amended and Restated 364-Day
Revolving Credit Agreement, dated as of August 14, 2003, by and among the Company, the
lenders parties thereto and Bank One, NA, as administrative agent, as amended,
supplemented or otherwise modified.  

	    	             “Facility
Fee” has the meaning specified in Section 2.12(a).  

6. 

	    	             “Facility
Termination Date” means the Revolving Termination Date, or if the Company shall
have converted Loans hereunder to a term loan pursuant to Section 2.01(b), the Converted
Loan Termination Date.  

	    	             “Federal
Funds Effective Rate” means, for any day, an interest rate per annum equal to
the weighted average of the rates on overnight Federal funds transactions with members of
the Federal Reserve System arranged by Federal funds brokers on such day, as published
for such day (or, if such day is not a Business Day, for the immediately preceding
Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so
published for any day which is a Business Day, the average of the quotations at
approximately 10:00 a.m. (Chicago time) on such day on such transactions received by the
Agent from three Federal funds brokers of recognized standing selected by the Agent in
its sole discretion.  

	    	             “FRB”means
the Board of Governors of the Federal Reserve System, and any Governmental Authority
succeeding to any of its principal functions.  

	    	             “Funded
Debt” means as of the date of any determination all outstanding Indebtedness of
the Company and its consolidated Subsidiaries which matures more than one (1) year after
the incurrence thereof or is extendable, renewable or refundable, at the option of the
obligor, to a date more than one (1) year after the incurrence thereof.  

	    	             “GAAP”means
generally accepted accounting principles set forth from time to time in the opinions and
pronouncements of the Accounting Principles Board and the American Institute of Certified
Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board (or agencies with similar functions of comparable stature and authority
within the U.S. accounting profession).  

	    	             “Governmental
Authority” means any nation or government, any state or other political
subdivision thereof, any central bank (or similar monetary or regulatory authority)
thereof, any entity exercising executive, legislative, judicial, regulatory or
administrative functions of or pertaining to government, and any governmental regulatory
authority or agency such as the FDIC, FRB, IRS or SEC.  

	    	             “Guarantors”means,
collectively, NEBS and, if applicable, each Material Subsidiary which becomes a party to
the Guaranty pursuant to Section 6.13 or Section 7.03. As of the Closing Date the sole
Guarantor shall be NEBS.  

	    	             “Guaranty”means
that certain Guaranty, dated as of July 22, 2004, made by the Guarantors in favor of the
Agent, for the benefit of the Agent and the Banks, as the same may be amended, restated,
supplemented or otherwise modified from time to time.  

	    	             “Indebtedness”of
any Person means, without duplication, (a) all indebtedness for borrowed money; (b) all
obligations issued, undertaken or assumed as the deferred purchase price of property or
services (other than trade payables entered into in the ordinary course of business on
ordinary terms); (c) all non-contingent reimbursement or payment obligations with
respect to Surety Instruments; (d) all obligations evidenced by notes, bonds,
debentures or similar instruments, including obligations so evidenced incurred in
connection with the acquisition of property, assets or businesses; (e) all  

7. 

	    	recourse
indebtedness created or arising under any conditional sale or other title retention
agreement, or incurred as financing, in either case with respect to property acquired by
the Person; (f) all obligations with respect to capital leases; and (g) all
reimbursement obligations with respect to letters of credit; provided, however,
that the term “Indebtedness” shall not include non-recourse obligations or
indebtedness of any kind; and providedfurther, however, that the
term “Indebtedness” shall not include any such obligations or indebtedness
owing by the Company or any Subsidiary to the Company or any Subsidiary.  

	    	             “Indemnified
Liabilities” has the meaning specified in Section 10.05.  

	    	             “Indemnified
Person”has the meaning specified in Section 10.05.  

	    	             “Independent
Auditor” has the meaning specified in subsection 6.01(a).  

	    	             “Insolvency
Proceeding” means with respect to a Person (a) any case, action or
proceeding before any court or other Governmental Authority relating to bankruptcy,
reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief
of debtors, or (b) any general assignment for the benefit of creditors, composition,
marshalling of assets for creditors generally, or other, similar arrangement in respect
of its creditors generally or any substantial portion of its creditors; in each case
undertaken under U.S. Federal, state or foreign law, including the Bankruptcy Code.  

	    	             “Interest
Payment Date” means, as to any Loan other than a Base Rate Committed Loan, the
last day of each Interest Period applicable to such Loan, the Revolving Termination Date
and the Converted Loan Termination Date, and, as to any Base Rate Committed Loan, the
last Business Day of each calendar quarter, the Revolving Termination Date and the
Converted Loan Termination Date, provided, however, that (a) if any
Interest Period for an Offshore Rate Committed Loan exceeds three months, the date that
falls three months after the beginning of such Interest Period and after each Interest
Payment Date thereafter is also an Interest Payment Date, and (b) as to any Bid Loan,
such intervening dates prior to the maturity thereof as may be specified by the Company
and agreed to by the applicable Bid Loan Lender in the applicable Competitive Bid shall
also be Interest Payment Dates.  

	    	             “Interest
Period” means, (a) as to any Offshore Rate Committed Loan, the period commencing
on the Business Day such Loan is disbursed, or on the Conversion/Continuation Date on
which the Loan is converted into or continued as an Offshore Rate Committed Loan, and
ending on the date one, two, three or six months thereafter, as selected by the Company
in its Notice of Borrowing or Notice of Conversion/Continuation, as the case may be; (b)
as to any LIBOR Bid Loan, the period commencing on the Business Day such Loan is
disbursed and ending on the date one, two, three, six, nine or twelve months thereafter
as selected by the Company in the applicable Competitive Bid Request and agreed to by the
applicable Bid Loan Lender(s); and (c) as to any Absolute Rate Bid Loan, a period of
not less than 7 days and not more than 364 days as selected by the Company in the
applicable Competitive Bid Request and agreed to by the applicable Bid Loan Lender(s);  

8. 

	    	             provided that:  

	  	        (i)        if any Interest
Period would otherwise end on a day that is not a Business Day, that Interest Period shall be extended to the following
Business Day unless, in the case of an Offshore Rate Loan, the result of such extension would be to carry such Interest
Period into another calendar month, in which event such Interest Period shall end on the preceding Business Day; 

	  	        (ii)       any
Interest Period pertaining to an Offshore Rate Loan that begins on the last Business Day of a calendar month (or on a
day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall
end on the last Business Day of the calendar month at the end of such Interest Period; 

	  	        (iii)       no
Interest Period for any Loan shall extend beyond the Revolving Termination Date, or, (A) in the case of any Bid Loan,
beyond the Conversion Date, and (B) in the case of a Committed Loan that is to be converted to a term loan pursuant to
Section 2.01(b), beyond the earlier of (x) the date described in clause (a) of the definition of “Revolving
Termination Date” and (y) the Conversion Date; and 

	  	        (iv)       if
the Company has elected to convert Loans to a term loan pursuant to Section 2.01(b), from and after the Conversion Date
no Interest Period for any Loan shall extend beyond the Converted Loan Termination Date. 

	    	             “Invitation
for Competitive Bids” means a solicitation for Competitive Bids, substantially
in the form of Exhibit D.  

	    	             “IRS”means
the Internal Revenue Service, and any Governmental Authority succeeding to any of its
principal functions under the Code.  

	    	             “Lending
Office” means, as to any Bank, the office or offices of such Bank specified as
its “Lending Office” or “Domestic Lending Office” or “Offshore
Lending Office”, as the case may be, on Schedule 10.02, or such other
office or offices as such Bank may from time to time notify the Company and the Agent.  

	    	             “Level
I Status” has the meaning specified in Annex I.  

	    	             “Level
II Status” has the meaning specified in Annex I.  

	    	             “Level
III Status” has the meaning specified in Annex I.  

	    	             “Level IV Status” has the meaning specified in Annex I.  

	    	             “Level V Status” has the meaning specified in Annex I.  

	    	             “Level
Status”means Level I Status, Level II Status, Level III Status, Level IV Status
or Level V Status (as such terms are defined in Annex I), as applicable at any time.  

9. 

	    	             “LIBO
Base Rate” for any Interest Period, with respect to each LIBOR Bid Loan in any
Bid Borrowing or each Offshore Rate Committed Loan comprising part of the same Committed
Borrowing, means, for the relevant Interest Period, the applicable British Bankers’Association
Interest Settlement Rate for deposits in Dollars as reported by any generally recognized
financial information service as of 11:00 a.m. (London time) two (2) Business Days prior
to the first day of such Interest Period, and having a maturity equal to such Interest
Period; provided that if no such British Bankers’ Association Interest Settlement
Rate is available, the applicable LIBO Base Rate for the relevant Interest Period shall
instead be the rate determined by the Agent to be the rate at which Bank One offers to
place deposits in Dollars with first class banks in the London interbank market at
approximately 11:00 a.m. (London time) two (2) Business Days prior to the first day of
such Interest Period, in the approximate amount of Bank One’s relevant Eurodollar
Loan, and having a maturity equal to such Interest Period.  

	    	             “LIBO
Rate” means, with respect to each LIBOR Bid Loan in any Bid Borrowing or
Offshore Rate Committed Loan comprising part of the same Committed Borrowing for the
relevant Interest Period, the sum of (i) the quotient of (a) the LIBO Base Rate
applicable to such Interest Period, divided by (b) one minus the Reserve
Requirement (expressed as a decimal) applicable to such Interest Period, plus (ii)
the then Applicable Margin, changing as and when the Applicable Margin changes.  

	    	             “LIBOR
Auction” means a solicitation of Competitive Bids setting forth a LIBOR Bid
Margin pursuant to Section 2.06.  

	    	             “LIBOR
Bid Loan” means any Bid Loan that bears interest at a rate based upon the LIBO
Rate.  

	    	             “LIBOR
Bid Margin” has the meaning specified in subsection 2.06(c)(ii)(C).  

	    	             “Lien”means
any security interest, mortgage, deed of trust, pledge, hypothecation, charge or deposit
arrangement, encumbrance, lien (statutory or other) or preferential arrangement of any
kind or nature whatsoever in respect of any property (including those created by, arising
under or evidenced by any conditional sale or other title retention agreement, the
interest of a lessor under a capital lease, any financing lease having substantially the
same economic effect as any of the foregoing, or the filing of any financing statement
signed by and naming the owner of the asset to which such lien relates as debtor, under
the Uniform Commercial Code or any comparable law), but not including the interest of a
lessor under an operating lease.  

	    	             “Loan”means
an extension of credit by a Bank to the Company under Article II, and may be a Committed
Loan (including as converted pursuant to Section 2.01(b)) or a Bid Loan.  

	    	             “Loan
Documents” means this Agreement, the Guaranty, any Notes and all other
documents, instruments and agreements delivered to the Agent or any Bank in connection
herewith.  

10. 

	    	             “Majority
Banks” means (a) at any time prior to the Revolving Termination Date, Banks
then holding greater than 50% of the Commitments, and (b) otherwise, Banks then
holding greater than 50% of the then aggregate unpaid principal amount of the Loans.  

	    	             “Margin
Stock” means “margin stock” as such term is defined in Regulation T,
U or X of the FRB.  

	    	             “Material
Adverse Effect” means (a) a material adverse change in, or a material
adverse effect upon, the financial condition of the Company and its Subsidiaries taken as
a whole; or (b) a material adverse effect upon the legality, validity, binding
effect or enforceability against the Company of this Agreement, the Guaranty or the
Notes.  

	    	             “Material
Subsidiary” means (a) NEBS, and (b) at any time, any other Subsidiary having at
such time either (i) total (gross) revenues for the preceding four fiscal quarter
period in excess of 20% of total (gross) revenues of the Company and its consolidated
Subsidiaries for such period or (ii) total assets, as of the last day of the
preceding fiscal quarter, having a net book value in excess of 20% of the total assets of
the Company and its consolidated Subsidiaries as of such day, in each case, based upon
the Company’s most recent annual or quarterly financial statements delivered to the
Agent under Section 6.01.  

	    	             “Moody’s”means
Moody’s Investors Service, a division of Dun & Bradstreet Corporation.  

	    	             “Multiemployer
Plan” means a “multiemployer plan”, within the meaning of Section 4001(a)(3)
of ERISA, to which the Company or any ERISA Affiliate makes, is making, or is obligated
to make contributions or, during the preceding three calendar years, has made, or been
obligated to make, contributions.  

	    	             “NEBS”means
New England Business Service, Inc., a Delaware corporation.  

	    	             “Notes”means
the Committed Loan Notes and the Bid Loan Notes.  

	    	             “Notice
of Borrowing” means a notice in substantially the form of Exhibit B.  

	    	             “Notice
of Conversion/Continuation” means a notice in substantially the form of Exhibit C.  

	    	             “Notice
to Convert” has the meaning specified in Section 2.01(b).  

	    	             “Obligations”means
all advances, debts, fees, liabilities, obligations (including, but not limited to,
reimbursement obligations with respect to letters of credit), covenants and duties
arising under this Agreement and the Notes, owing by the Company to any Bank, the Agent,
or any Indemnified Person, whether direct or indirect (including those acquired by
assignment), absolute or contingent, due or to become due, now existing or hereafter
arising.  

	    	             “Offshore
Rate Committed Loan” means any Committed Loan that bears interest based on the
LIBO Rate.  

11. 

	    	             “Offshore
Rate Loan” means any LIBOR Bid Loan or any Offshore Rate Committed Loan.  

	    	             “Organization
Documents” means, for any corporation, the certificate or articles of
incorporation, the bylaws, any certificate of determination or instrument relating to the
rights of preferred shareholders of such corporation, any shareholder rights agreement,
and all applicable resolutions of the board of directors (or any committee thereof) of
such corporation.  

	    	             “Other
Taxes” means any present or future stamp or documentary taxes or any other
excise or property taxes, charges or similar levies which arise from any payment made
hereunder or from the execution, delivery or registration of, or otherwise with respect
to, this Agreement or any other Loan Documents.  

	    	             “Participant”has
the meaning specified in subsection 10.08(d).  

	    	             “PBGC”means
the Pension Benefit Guaranty Corporation, or any Governmental Authority succeeding to any
of its principal functions under ERISA.  

	    	             “Pension
Plan” means a pension plan (as defined in Section 3(2) of ERISA) subject to
Title IV of ERISA which the Company sponsors, maintains, or to which it makes, is making,
or is obligated to make contributions, or in the case of a multiple employer plan (as
described in Section 4064(a) of ERISA) has made contributions at any time during the
immediately preceding five (5) plan years.  

	    	             “Permitted
Liens” has the meaning specified in Section 7.01.  

	    	             “Person”means
an individual, partnership, corporation, business trust, joint stock company, trust,
unincorporated association, joint venture or Governmental Authority.  

	    	             “Plan”means
an employee benefit plan (as defined in Section 3(3) of ERISA) which the Company
sponsors or maintains or to which the Company makes, is making, or is obligated to make
contributions and includes any Pension Plan.  

	    	             “Prime
Rate” means a rate per annum equal to the prime rate of interest announced from
time to time by Bank One or its parent (which is not necessarily the lowest rate charged
to any customer), changing when and as said prime rate changes.  

	    	             “Pro
Rata Share” means, as to any Bank at any time, the percentage equivalent
(expressed as a decimal, rounded to the ninth decimal place) at such time of such Bank’s
Commitment divided by the aggregate Commitments hereunder (or, if all Commitments have
been terminated or the Loans shall have been converted to a term loan pursuant to Section
2.01(b), the aggregate principal amount of such Bank’s Loans divided by the
aggregate principal amount of the Loans then held by all Banks). The initial Pro Rata
Share of each Bank is set forth opposite such Bank’s name in Schedule 2.01 under
the heading “Pro Rata Share”.  

	    	             “Replacement
Bank” has the meaning specified in Section 3.08.  

12. 

	    	             “Reportable
Event” means, any of the events set forth in Section 4043(b) of ERISA or
the regulations thereunder, other than any such event for which the 30-day notice
requirement under ERISA has been waived in regulations issued by the PBGC.  

	    	             “Requirement
of Law” means, as to any Person, any law (statutory or common), treaty, rule or
regulation or determination of an arbitrator or of a Governmental Authority, in each case
applicable to or binding upon the Person or any of its property or to which the Person or
any of its property is subject.  

	    	             “Reserve
Requirement” means, with respect to an Interest Period, the maximum aggregate
reserve requirement (including all basic, supplemental, marginal and other reserves)
which is imposed under Regulation D on “Eurocurrency liabilities” (as defined
in Regulation D).  

	    	             “Responsible
Officer” means any of the following officers of the Company: the chief executive
officer, the chief operating officer, the president, the chief financial officer, the
treasurer, the assistant treasurer, or any other officer of the Company having similar
authority and responsibility to any of the foregoing.  

	    	             “Revolving
Termination Date” means the earlier to occur of:  

	  	        (a)       July 20,
2005, as such date may be extended in accordance with Section 2.09; and 

	  	        (b)       the
date on which the Commitments terminate in accordance with Section 2.07 or 8.02 of this Agreement. 

	    	             “S&P”means
Standard & Poor’s Ratings Services, a division of McGraw-Hill Companies,
Inc.  

	    	             “SEC”means
the Securities and Exchange Commission, or any Governmental Authority succeeding to any
of its principal functions.  

	    	             “Solvent”means,
when used with respect to any Person, that at the time of determination:  

	    	             (i)                      the
fair value of its assets (both at fair valuation and at present fair
               saleable value, it being recognized that such determination shall not be
made                based on the book value of such assets as determined in accordance
with GAAP) is                equal to or in excess of the total amount of its
liabilities, including, without                limitation, contingent liabilities; and  

	    	             (ii)                      it
is then able and expects to be able to pay its debts as they mature; and  

	    	             (iii)       it
has capital sufficient to carry on its business as conducted and as proposed to be conducted. 

	    	             For
purposes of this definition of “Solvent”, with respect to contingent
liabilities (such as litigation, guarantees and pension plan liabilities), such
liabilities shall be computed at the amount which, in light of all the facts and
circumstances existing at the  

13. 

	  	
time,
represent the amount which can be reasonably be expected to become an actual or matured
liability.  

	    	             “Subsidiary”of
a Person means any corporation, association, partnership, limited liability company,
joint venture or other business entity of which more than 60% of the voting stock,
membership interests or other equity interests (in the case of Persons other than
corporations), is owned or controlled directly or indirectly by the Person, or one or
more of the Subsidiaries of the Person, or a combination thereof. Unless the context
otherwise clearly requires, references herein to a “Subsidiary” refer to a
Subsidiary of the Company.  

	    	             “Surety
Instruments” means all letters of credit (including standby and commercial),
banker’s acceptances, bank guaranties, shipside bonds, surety bonds and similar
instruments.  

	    	             “Syndication
Agent” means Credit Suisse First Boston, in its capacity as syndication agent
for the credit transaction evidenced by this Agreement.  

	    	             “Taxes”means
any and all present or future taxes, levies, imposts, deductions, charges or
withholdings, and all liabilities with respect thereto, excluding, in the case of each
Bank and the Agent, such taxes (including income taxes or franchise taxes) as are imposed
on or measured by each Bank’s net income by the jurisdiction (or any political
subdivision thereof) under the laws of which such Bank or the Agent, as the case may be,
is organized or maintains a lending office; provided, however, that “Taxes” shall
be limited to taxes, levies, imposts, deductions, charges or withholdings, and all
liabilities with respect thereto, which are imposed by any Governmental Authority in the
United States unless the Company makes any payments hereunder with funds derived from
sources outside the United States.  

	    	             “2004
5-Year Credit Agreement” means that certain 5-Year Revolving Credit Agreement,
dated as of July 22, 2004, by and among the Company, the lenders parties thereto, and
Bank One, NA, as administrative agent, as the same may be amended, restated, supplemented
or otherwise modified and as in effect from time to time.  

	    	             “Type”has
the meaning specified in the definition of “Committed Loan.” 

	    	             “Unfunded
Pension Liability” means the excess of a Plan’s benefit liabilities under
Section 4001(a)(16) of ERISA, over the current value of that Plan’s assets,
determined in accordance with the assumptions used for funding the Pension Plan pursuant
to Section 412 of the Code for the applicable plan year.  

	    	             “United
States” and “U.S.” each means the United States of America.  

	    	             “Utilization
Fee” has the meaning specified in Section 2.12(b).  

	    	             “Wholly-Owned
Subsidiary” means any corporation in which (other than directors’ qualifying shares or similar nominal
shares required by law) 100% of the capital stock of each class having ordinary voting power, and 100% of the capital
stock of every other class, in each case, at the time as of which any determination is being made, 

14. 

	  	is owned, beneficially and of record, by the Company, or
by one or more of the other Wholly-Owned Subsidiaries, or both. 

	  	1.02  	  	Other Interpretive Provisions.  

	    	             (a)    Defined
Terms.   Unless otherwise specified herein or therein, all terms defined in this Agreement shall have
the defined meanings when used in any certificate or other document made or delivered pursuant hereto. The meaning of
defined terms shall be equally applicable to the singular and plural forms of the defined terms. Terms (including
uncapitalized terms) not otherwise defined herein and that are defined in the UCC shall have the meanings therein
described. 

	    	             (b)    The
Agreement.   The words “hereof”, “herein”, “hereunder” and words of similar import when
used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement;
and subsection, section, schedule and exhibit references are to this Agreement unless otherwise specified. 

	    	             (c)    Certain Common Terms.  

	  	        (i)
     The term “documents”includes any and all
instruments, documents, agreements, certificates, indentures, notices and other writings,
however evidenced.  

	  	        (ii)
     The term “including”is not limiting and means
“including without limitation.” 

	    	             (d)    Performance;
Time.   Whenever any performance obligation hereunder shall be stated to be due or required to be
satisfied on a day other than a Business Day, such performance shall be made or satisfied on the next succeeding
Business Day. In the computation of periods of time from a specified date to a later specified date, the word
“from” means “from and including”; the words “to” and “until” each mean “to
but excluding”, and the word “through” means “to and including.” If any provision of this
Agreement refers to any action taken or to be taken by any Person, or which such Person is prohibited from taking, such
provision shall be interpreted to encompass any and all reasonable means, direct or indirect, of taking, or not taking,
such action. 

	    	             (e)    Contracts.   Unless
otherwise expressly provided herein, references to agreements and other contractual instruments shall be deemed to
include all subsequent amendments and other modifications thereto, but only to the extent such amendments and other
modifications are not prohibited by the terms of any Loan Document. 

	    	             (f)    Laws.   References
to any statute or regulation are to be construed as including all statutory and regulatory provisions consolidating,
amending, replacing, supplementing or interpreting the statute or regulation. 

	    	             (g)    Captions.   The
captions and headings of this Agreement are for convenience of reference only and shall not affect the interpretation of
this Agreement. 

15. 

	    	             (h)    Independence
of Provisions.   The parties acknowledge that this Agreement and other Loan Documents may use several
different limitations, tests or measurements to regulate the same or similar matters, and that such limitations, tests
and measurements are cumulative and must each be performed, except as expressly stated to the contrary in this
Agreement. 

	  	1.03  	  	Accounting Principles.  

	    	             (a)              Unless
the context otherwise clearly requires, all accounting terms not expressly defined herein shall be construed, and all
financial computations required under this Agreement shall be made, in accordance with GAAP, consistently applied.

	    	             (b)              References
herein to “fiscal year” and “fiscal quarter” refer to such fiscal periods of the Company. 

ARTICLE II 

THE CREDITS  

	  	2.01  	  	The Revolving Credit; Conversion to Term Loan.  

	    	             (a)    Each
Bank severally agrees, on the terms and conditions set forth herein, to make Committed Loans to the Company from time to
time on any Business Day during the period from the Closing Date to the earlier of the Revolving Termination Date and
the delivery of a Notice to Convert, in an aggregate amount not to exceed at any time outstanding the amount set forth
on Schedule 2.01 (such an amount as the same may be reduced or increased under Section 2.07 or extended
under Section 2.09 or changed as a result of one or more assignments under Section 10.08, such Bank’s
“Commitment”); provided, however, that, the aggregate principal amount of all outstanding
Committed Loans, together with the aggregate principal amount of all Bid Loans outstanding, shall not at any time exceed
the aggregate Commitments hereunder. Within the limits of each Bank’s Commitment, at any time prior to the earlier
of the Revolving Termination Date and the delivery of a Notice to Convert and subject to the other terms and conditions
hereof, the Company may borrow under this Section 2.01(a), prepay under Section 2.08 and reborrow under this
Section 2.01(a). 

	    	             (b)    From
and after the Closing Date to but not including the Revolving Termination Date, at the Company’s option upon
written notice (a “Notice to Convert”) to the Agent (who shall promptly notify each of the Banks), the
Company may convert the then outstanding aggregate principal amount of the Committed Loans hereunder to a term loan. The
Notice to Convert shall expressly state the date on which such conversion shall occur (such date being the
“Conversion Date”) and shall be irrevocable once given and shall constitute a representation and
warranty by the Company that the conditions contained in Section 4.02 have been satisfied as of the date of such
Notice to Convert and as of the Conversion Date. Upon delivery of such Notice to Convert, (i) the Company’s
option to request extensions of the Revolving Termination Date under Section 2.09 above and to borrow and reborrow
Committed Loans and Bid Loans shall terminate, (ii) the Company’s option to request increases in the
Commitments pursuant to Section 2.07(b) shall terminate, (iii) the obligation of each Bank to make any Loans
under Section 2.01(a) shall be terminated, and (iv) the outstanding principal 

16. 

	  	balance of all Committed Loans hereunder shall be due
and payable on the Converted Loan Termination Date. From and after the Conversion Date, the Applicable Margin applicable
to all Loans converted hereunder shall be increased by the per annum rate set forth below the indicated Level Status
opposite the heading “Term-Out Fee” in the pricing grid set forth on Annex I. All references in this
Agreement to Committed Loans or Loans shall include such Loans as converted hereunder. 

	  	2.02  	  	Loan Accounts; Notes.  

	    	             (a)    The
Committed Loans and Bid Loans made by each Bank shall be evidenced by one or more loan accounts or records maintained by
such Bank in the ordinary course of business. The loan accounts or records maintained by the Agent and each Bank shall
be prima facie evidence of the amount of the Loans made by the Banks to the Company and the interest and payments
thereon. Any failure so to record or any error in doing so shall not, however, limit or otherwise affect the obligation
of the Company hereunder to pay any amount owing with respect to the Loans. 

	    	             (b)    If
requested by any Bank, the Company shall execute and deliver to such Bank a promissory note evidencing such Bank’s
Committed Loans (each a “Committed Loan Note”) and a promissory note evidencing such Bank’s Bid
Loans (each a “Bid Loan Note”, and collectively, the “Notes”) (each such Committed
Loan Note to be substantially in the form of Exhibit G-1, and each such Bid Loan Note to be substantially in the
form of Exhibit G-2). Each Bank shall endorse on the schedule annexed to its Note the date, amount and maturity
of each Loan made by it and the amount of each payment of principal made by the Company with respect thereto. Each such
Bank is irrevocably authorized by the Company to endorse its Note and each Bank’s record shall be prima facie
evidence of the amount of each such Loan; provided, however, that the failure of a Bank to make, or an
error in making, a notation thereon with respect to any Loan shall not limit or otherwise affect the obligations of the
Company hereunder or under any such Note to such Bank. 

	  	2.03  	  	Procedure for Committed Borrowing.  

	    	             (a)    Each
Committed Borrowing shall be made upon the Company’s irrevocable written notice delivered to the Agent in the form
of a Notice of Borrowing (which notice must be received by the Agent (i) prior to 10:00 a.m. (Chicago time)
three Business Days prior to the requested Borrowing Date, in the case of Offshore Rate Committed Loans; and
(ii) prior to 10:00 a.m. (Chicago time) on the requested Borrowing Date, in the case of Base Rate Committed
Loans, specifying:

	  	        (A)    the
amount of the Committed Borrowing, which shall be in an aggregate minimum amount of $5,000,000 or any multiple of
$1,000,000 in excess thereof; 

	  	        (B)    the
requested Borrowing Date, which shall be a Business Day; 

	  	        (C)    the
Type of Committed Loans comprising the Committed Borrowing; and  

17. 

	  	        (D)    if
the Committed Loans consist of Offshore Rate Committed Loans, the duration of the Interest Period applicable to such
Committed Loans included in such notice. If the Notice of Borrowing fails to specify the duration of the Interest Period
for any Committed Borrowing comprised of Offshore Rate Committed Loans, such Interest Period shall be one month. 

	    	             (b)    The
Agent will promptly notify each Bank of its receipt of any Notice of Borrowing and of the amount of such Bank’s Pro
Rata Share of that Committed Borrowing. 

	    	             (c)    Each
Bank will make the amount of its Pro Rata Share of each Committed Borrowing available to the Agent for the account of
the Company at the Agent’s Payment Office by 12:00 noon (Chicago time) on the Borrowing Date requested by the
Company in funds immediately available to the Agent. Any such amount which is received later than 12:00 noon (Chicago
time) shall be deemed to have been received on the immediately succeeding Business Day. The proceeds of each such
Committed Borrowing will then be made available to the Company by the Agent at such office by crediting the account of
the Company on the books of Bank One for the aggregate of the amounts made available to the Agent by the Banks and in
like funds as received by the Agent, or if requested by the Company, by wire transfer in accordance with written
instructions provided to the Agent by the Company of such funds as received by the Agent, unless on the date of the
Committed Borrowing all or any portion of the proceeds thereof shall then be required to be applied to the repayment of
any outstanding Loans, in which case such proceeds or portion thereof shall be applied to the payment of such Loans.

	    	             (d)    After
giving effect to any Committed Borrowing, there may not be more than eight (8) different Interest Periods in effect in
respect of all Committed Loans and Bid Loans together then outstanding. 

	  	2.04  	  	Conversion and Continuation Elections for Committed Borrowings.  

	    	             (a)    The
Company may, upon irrevocable written notice to the Agent in accordance with subsection 2.04(b): 

	  	        (i)    elect,
as of any Business Day, in the case of Base Rate Committed Loans, or as of the last day of the applicable Interest
Period, in the case of Offshore Rate Committed Loans, to convert any such Committed Borrowings (or any part thereof in
an amount not less than $5,000,000, or that is in an integral multiple of $1,000,000 in excess thereof) into Committed
Borrowings of the other Type; or 

	  	        (ii)    elect,
as of the last day of the applicable Interest Period, to continue any Committed Borrowings having Interest Periods
expiring on such day (or any part thereof in an amount not less than $5,000,000, or that is in an integral multiple of
$1,000,000 in excess thereof); 

	  	provided, that if at any time the aggregate
amount of Offshore Rate Committed Loans in respect of any Committed Borrowing is reduced, by payment, prepayment, or
conversion of part thereof to be less than $1,000,000, such Offshore Rate Committed Loans shall automatically convert
into Base Rate Committed Loans, and on and after such date the right of the Company to continue 

18. 

	  	such Committed Loans as, and convert such Committed
Loans into, Offshore Rate Committed Loans shall terminate. 

	    	             (b)    The
Company shall deliver a Notice of Conversion/Continuation to be received by the Agent not later than (i) 10:00 a.m.
(Chicago time) at least three Business Days in advance of the Conversion/Continuation Date, if the Committed Borrowings
are to be converted into or continued as Offshore Rate Committed Loans; and (ii) 10:00 a.m. (Chicago time) on the
Conversion/Continuation Date, if the Loans are to be converted into Base Rate Committed Loans, specifying: 

	  	        (A)    the
proposed Conversion/Continuation Date;  

	  	        (B)    the
aggregate amount of Committed Loans to be converted or continued;  

	  	        (C)    the
Type of Committed Loans resulting from the proposed conversion or continuation; and 

	  	        (D)    other
than in the case of conversions into Base Rate Committed Loans, the duration of the requested Interest Period. 

	    	             (c)    If
upon the expiration of any Interest Period applicable to Offshore Rate Committed Loans, the Company has failed to select
timely a new Interest Period to be applicable to such Loans in accordance with Section 2.04(b), or if any Event of
Default then exists, the Company shall be deemed to have elected to convert such Offshore Rate Committed Loans into Base
Rate Committed Loans effective as of the expiration date of such Interest Period. 

	    	             (d)    The
Agent will promptly notify each Bank of its receipt of a Notice of Conversion/Continuation, or, if no timely notice is
provided by the Company, the Agent will promptly notify each Bank of the details of any automatic conversion. All
conversions and continuations shall be made ratably according to the respective outstanding principal amounts of the
Committed Loans with respect to which the notice was given held by each Bank. 

	    	             (e)    Unless
the Majority Banks otherwise agree, during the existence of an Event of Default, the Company may not elect to have a
Committed Loan made as, converted into or continued as, an Offshore Rate Committed Loan. 

	    	             (f)    Unless
otherwise agreed to by the Agent, after giving effect to any conversion or continuation of Committed Loans, there may
not be more than eight (8) different Interest Periods in effect in respect of all Committed Loans and Bid Loans together
then outstanding. 

        2.05    Bid
Borrowings.   In addition to Committed Borrowings, each Bank severally agrees that the Company may,
as set forth in Section 2.06, from time to time request the Banks prior to the earlier to occur of the Revolving
Termination Date and the delivery of a Notice to Convert, to submit offers to make Bid Loans to the Company;
provided, however, that the Banks may, but shall have no obligation to, submit such offers and the Company
may, but shall have no obligation to, accept any such offers; and provided, further, that at no time shall
(a) the outstanding aggregate principal amount of all Bid Loans made by all Banks, plus the outstanding 

19. 

aggregate principal amount of all Committed Loans made by all Banks
exceed the combined Commitments; or (b) the number of Interest Periods for Bid Loans then outstanding plus the
number of Interest Periods for Committed Loans then outstanding exceed eight (8) unless agreed by the Agent. 

        2.06    Procedure for Bid Borrowings.   The
Company may, as set forth in this Section, request the Agent to solicit offers from all the Banks to make Bid Loans.
 

                (a)    When
the Company wishes to request the Banks to submit offers to make Bid Loans hereunder, it shall transmit to the Agent by
telephone call followed promptly by facsimile transmission a notice in substantially the form of
Exhibit E(a “Competitive Bid Request”) so as to be received no later than
10:00 a.m. (Chicago time) (x) four Business Days prior to the date of a proposed Bid Borrowing in the case of
a LIBOR Auction, or (y) one Business Day prior to the date of a proposed Bid Borrowing in the case of an Absolute
Rate Auction, specifying: 

	  	        (i)    the
date of such Bid Borrowing, which shall be a Business Day;  

	  	        (ii)    the
aggregate amount of such Bid Borrowing, which shall be a minimum amount of $5,000,000 or in multiples of $1,000,000 in
excess thereof; 

	  	        (iii)    whether
the Competitive Bids requested are to be for LIBOR Bid Loans or Absolute Rate Bid Loans or both; and 

	  	        (iv)    the
duration of the Interest Period applicable thereto, subject to the provisions of the definition of “Interest
Period” herein. 

Subject to subsection 2.06(c), the Company may not request
Competitive Bids for more than three Interest Periods in a single Competitive Bid Request and may not request
Competitive Bids more than once in any period of five Business Days. 

                (b)    Upon
receipt of a Competitive Bid Request, the Agent will promptly send to the Banks by facsimile transmission an Invitation
for Competitive Bids, which shall constitute an invitation by the Company to each Bank to submit Competitive Bids
offering to make the Bid Loans to which such Competitive Bid Request relates in accordance with this Section 2.06.

                (c)    (i) (d) Each
Bank may at its discretion submit a Competitive Bid containing an offer or offers to make Bid Loans in response to any
Invitation for Competitive Bids. Each Competitive Bid must comply with the requirements of this subsection 2.06(c)
and must be submitted to the Agent by facsimile transmission at its offices specified in or pursuant to
Section 10.02 not later than (1) 10:00 a.m. (Chicago time) three Business Days prior to the proposed date of
Borrowing, in the case of a LIBOR Auction or (2) 10:00 a.m. (Chicago time) on the proposed date of Borrowing, in
the case of an Absolute Rate Auction; provided that Competitive Bids by Bank One (or any Affiliate of Bank One)
may only be submitted if Bank One or such Affiliate notifies the Company of the terms of the offer or offers contained
therein not later than (A) 10:00 a.m. (Chicago time) three Business Days prior to the proposed date of Borrowing,
in the case of a LIBOR Auction or (B) 10:00 a.m. (Chicago time) on the proposed date of Borrowing, in the case
of an Absolute Rate Auction. 

20. 

	    	             (ii) Each
Competitive Bid shall be in substantially the form of Exhibit F, specifying therein: 

	  	        (A)    the
proposed date of Borrowing; 

	  	        (B)    the
principal amount of each Bid Loan for which such Competitive Bid is being made, which principal amount (x) may be
equal to, greater than or less than the Commitment of the quoting Bank, (y) must be $5,000,000 or in multiples of
$1,000,000 in excess thereof, and (z) may not exceed the principal amount of Bid Loans for which Competitive Bids
were requested; 

	  	        (C)    in
case the Company elects a LIBOR Auction, the margin above or below the LIBO Rate (exclusive of the Applicable Margin)
(the “LIBOR Bid Margin”) offered for each such Bid Loan, expressed in multiples of 1/1000th of one
basis point to be added to or subtracted from the applicable LIBO Rate (exclusive of the Applicable Margin) and the
Interest Period applicable thereto; 

	  	        (D)    in
case the Company elects an Absolute Rate Auction, the rate of interest per annum expressed in multiples of 1/1000th of
one basis point (the “Absolute Rate”) offered for each such Bid Loan and the Interest Period applicable
thereto; and 

	  	        (E)    the
identity of the quoting Bank. 

	  	        (F)    a
Competitive Bid may contain up to three separate offers by the quoting Bank with respect to each Interest Period
specified in the related Invitation for Competitive Bids. 

	    	             (iii)    Any
Competitive Bid shall be disregarded if it: 

	  	        (A)    is
not substantially in conformity with Exhibit F or does not specify all of the information required by
subsection (c)(ii) of this Section; 

	  	        (B)    contains
qualifying, conditional or similar language; 

	  	        (C)    proposes
terms other than or in addition to those set forth in the applicable Invitation for Competitive Bids; or 

	  	        (D)    arrives
after the time set forth in subsection (c)(i). 

                (d)    Promptly
on receipt and not later than 9:00 a.m. (Chicago time) three Business Days prior to the proposed date of Borrowing,
in the case of a LIBOR Auction, or 9:00 a.m. (Chicago time) on the proposed date of Borrowing, in the case of an
Absolute Rate Auction, the Agent will notify the Company of the terms (i) of any Competitive Bid submitted by a
Bank that is in accordance with subsection 2.06(c), and (ii) of any Competitive Bid that amends, modifies or
is otherwise inconsistent with a previous Competitive Bid submitted by such Bank with respect to the same Competitive
Bid Request. Notwithstanding the foregoing, any such subsequent Competitive Bid shall be disregarded by the Agent unless
such subsequent 

21. 

Competitive Bid is submitted solely to correct a manifest error in
such former Competitive Bid and only if received within the times set forth in subsection 2.06(c). The Agent’s
notice to the Company shall specify (1) the aggregate principal amount of Bid Loans for which offers have been
received for each Interest Period specified in the related Competitive Bid Request; (2) the respective principal
amounts and LIBOR Bid Margins or Absolute Rates, as the case may be, so offered; and (3) any other information
regarding such Competitive Bid reasonably requested by the Company. Subject only to the provisions of
Sections 3.02, 3.05 and 4.02 hereof and the provisions of this subsection (d), any Competitive Bid shall be
irrevocable except with the written consent of the Agent given on the written instructions of the Company. 

                (e)    Not
later than 10:00 a.m. (Chicago time) three Business Days prior to the proposed date of Borrowing, in the case of a
LIBOR Auction, or 10:00 a.m. (Chicago time) on the proposed date of Borrowing, in the case of an Absolute Rate
Auction, the Company shall notify the Agent, in writing and in a form reasonably acceptable to the Agent, of its
acceptance or non-acceptance of the offers received by it pursuant to subsection 2.06(c) or notified to it pursuant
to subsection 2.06(d). The Company shall be under no obligation to accept any offer and may choose to accept or
reject some or all offers. In the case of acceptance, such notice shall specify the aggregate principal amount of offers
for each Interest Period that is accepted. The Company may accept any Competitive Bid in whole or in part;
provided that: 

	  	        (i)    the
aggregate principal amount of each Bid Borrowing may not exceed the applicable amount set forth in the related
Competitive Bid Request; 

	  	        (ii)    the
principal amount of each Bid Borrowing must be $5,000,000 or in any multiple of $1,000,000 in excess thereof; 

	  	        (iii)    acceptance
of offers may only be made on the basis of ascending LIBOR Bid Margins or Absolute Rates within each Interest Period, as
the case may be; and 

	  	        (iv)    the
Company may not accept any offer that is described in subsection 2.06(c)(iii) or that otherwise fails to
comply with the requirements of this Agreement. 

                (f)    If
offers are made by two or more Banks with the same LIBOR Bid Margins or Absolute Rates, as the case may be, for a
greater aggregate principal amount than the amount in respect of which such offers are accepted for the related Interest
Period, the principal amount of Bid Loans in respect of which such offers are accepted shall be allocated by the Agent
among such Banks (in such multiples, not less than $1,000,000, as the Agent may deem appropriate) as nearly as
practicable in proportion to the aggregate principal amounts of such offers. Determination by the Agent of the amounts
of Bid Loans shall be conclusive in the absence of manifest error. 

                (g) (i) The
Agent will promptly notify each Bank having submitted a Competitive Bid if its offer has been accepted and, if its offer
has been accepted, of the amount of the Bid Loan or Bid Loans to be made by it on the date of the Bid Borrowing. 

	  	        (ii)    Each
Bank, which has received notice pursuant to subsection 2.06(g)(i) that its
Competitive Bid has been accepted, shall make the amounts  

22. 

	  	of such Bid Loans available to the Agent for the account
of the Company at the Agent’s Payment Office, by 11:00 a.m. (Chicago time) in the case of Absolute Rate Bid
Loans, and by 11:00 a.m. (Chicago time) in the case of LIBOR Bid Loans, on such date of Bid Borrowing, in funds
immediately available to the Agent for the account of the Company at the Agent’s Payment Office. 

	  	        (iii)    Promptly
following each Bid Borrowing, the Agent shall notify each Bank of the ranges of bids submitted and the highest and
lowest bids accepted for each Interest Period requested by the Company and the aggregate amount borrowed pursuant to
such Bid Borrowing. 

                (h)    If,
on or prior to the proposed date of Borrowing, the Commitments have not been terminated and if, on such proposed date of
Borrowing all applicable conditions to funding referenced in Sections 3.02, 3.05 and 4.02 hereof are
satisfied, the Bank or Banks whose offers the Company has accepted will fund each Bid Loan so accepted. Nothing in this
Section 2.06 shall be construed as a right of first offer in favor of the Banks or to otherwise limit the ability
of the Company to request and accept credit facilities from any Person (including any of the Banks), provided that such
credit facilities are not prohibited by this Agreement. 

        2.07    Termination or Reduction of Commitments; Increase of Commitments.  

                (a)    The
Company may, upon not less than three Business Days’ prior notice to the Agent, terminate the Commitments, or
permanently reduce the Commitments by an aggregate minimum amount of $5,000,000 or any multiple of $1,000,000 in excess
thereof; unless, after giving effect thereto and to any payments or prepayments of Committed Loans made on the
effective date thereof, the then-outstanding principal amount of the Loans would exceed the amount of the aggregate
Commitments then in effect. The Agent shall promptly notify the Banks of any such termination or reduction. Once reduced
in accordance with this Section, the Commitments may not be increased. Any reduction of the Commitments shall be applied
to each Bank according to its Pro Rata Share. All accrued Facility Fees to, but not including the effective date of any
reduction or termination of Commitments, shall be paid on the effective date of such reduction or termination.

                (b)    At
any time prior to the earlier of the Revolving Termination Date and the delivery of a Notice to Convert the Company may,
on the terms set forth below, request that the Commitments hereunder and the “Commitments” under (and as
defined in) the 2004 5-Year Credit Agreement be increased on a pro rata basis by an aggregate amount up to $75,000,000;
provided, however, that (i) an increase in the Commitments hereunder may only be made at a time when no Default or
Unmatured Default shall have occurred and be continuing and (ii) in no event shall the Combined Commitment exceed
$400,000,000 in the aggregate. In the event of such a requested increase in the Commitments, any financial institution
which the Company and the Agent invite to become a Bank or to increase its Commitment may set the amount of its
Commitment at a level agreed to by the Company and the Agent. In the event that the Company and one or more of the Banks
(or other financial institutions) shall agree upon such an increase in the Commitments (i) the Company, the Agent
and each Bank or other financial institution increasing its Commitment or extending a new Commitment shall enter into an
amendment to this Agreement setting forth the amounts of the Commitments, as so increased, providing that the financial
institutions extending new Commitments shall be Banks for all purposes under this 

23. 

Agreement, and setting forth such additional provisions as the
Agent and the Company shall consider reasonably appropriate and (ii) the Company shall furnish, if requested, new
Notes to each financial institution that is extending a new Commitment or increasing its Commitment. No such amendment
shall require the approval or consent of any Bank whose Commitment is not being increased. Upon the execution and
delivery of such amendment as provided above, and upon satisfaction of such other conditions as the Agent may reasonably
specify upon the request of the financial institutions that are extending new Commitments (including, without
limitation, the Agent administering the reallocation of any outstanding Loans (other than Bid Loans) ratably among the
Banks after giving effect to each such increase in the Commitments, and the delivery of certificates, evidence of
corporate authority and legal opinions on behalf of the Company), this Agreement shall be deemed to be amended
accordingly. 

        2.08    Optional Prepayments.  

                (a)    Subject
to Section 3.04, the Company may, at any time or from time to time, upon not less than three Business
Days’irrevocable notice to the Agent, in the case of Offshore Rate Committed Loans, or upon not less than one
Business Day’s irrevocable notice to the Agent, in the case of Base Rate Committed Loans, ratably prepay such Loans
in whole or in part, in minimum amounts of $5,000,000 or any multiple of $1,000,000 in excess thereof. Such notice of
prepayment shall specify the date and amount of such prepayment and the Type(s) of Committed Loans to be prepaid. The
Agent will promptly notify each Bank of its receipt of any such notice, and of such Bank’s Pro Rata Share of such
prepayment. If such notice is given by the Company, the Company shall make such prepayment and the payment amount
specified in such notice shall be due and payable on the date specified therein, together with accrued interest thereon
to each such date on the amount prepaid and any amounts required pursuant to Section 3.04; provided that if
the Company shall fail to make any such payment on the date specified therein, such failure shall not constitute an
Event of Default hereunder, and if the Committed Loan is a Base Rate Committed Loan such Loan shall continue as if such
prepayment notice had not been given, and if the Committed Loan is an Offshore Rate Committed Loan such Loan shall be
automatically converted to a Base Rate Committed Loan as of the date specified in such notice. 

                (b)    Bid
Loans may not be voluntarily prepaid.  

        2.09    Extension
of Revolving Termination Date.   Provided that no Default or Event of Default exists as of the date
of the Request, the Company may, by irrevocable written notice (“Request”) to the Agent and each Bank
delivered no earlier than 60 days and no later than 30 days before the then-applicable Revolving Termination
Date, request the Banks to extend the Revolving Termination Date to the date that is 364 days after the
then-current Revolving Termination Date. Each Bank shall, no later than 20 days after the date of such Request,
give written notice to the Agent stating whether such Bank agrees to extend the Revolving Termination Date, in its sole
discretion. If the Agent receives such agreement by such date from each of the Banks, provided there exists no Default
or Event of Default on the then-current Revolving Termination Date, the Revolving Termination Date shall be extended for
364 days and the Agent shall promptly notify the Bank and the Company of such extension. If any Bank fails to
respond to the Request within the time specified above, it shall be deemed to have declined the Request. If less than
all the Banks shall agree to such extension, the extension contemplated in this Section may nonetheless occur with
respect to the consenting Banks, 

24. 

provided that any such extension shall be conditioned upon
an agreement to such extension by Banks with at least 80% of the aggregate Commitments. The Agent shall notify the
Company and each of the Banks as to which Banks have agreed to such extension and as to the new Revolving Termination
Date as a result thereof, or that such extension shall not occur, as the case may be. In the event that the Revolving
Termination Date is extended by some but not all of the Banks, on the existing Revolving Termination Date for any Bank
not extending (each a “Non-Continuing Bank”), the Company shall repay all Loans of such Non-Continuing
Bank, together with all accrued and unpaid interest thereon, and all fees and other amounts (including amounts arising
under Section 3.04(d)) owing to such Non-Continuing Bank, and upon such payment each such Non-Continuing Bank shall
cease to constitute a Bank hereunder, except with respect to the indemnification provisions of this Agreement, which
shall survive as to such Non-Continuing Bank. 

        2.10    Repayment.   The
Company shall repay to the Banks on the Facility Termination Date the aggregate principal amount of Loans outstanding on
such date. The Company shall repay each Offshore Rate Committed Loan on the last day of the relevant Interest Period.
The Company shall repay each Bid Loan on the earliest of (i) the last day of the relevant Interest Period,
(ii) the Conversion Date and (iii) the Revolving Termination Date. 

        2.11    Interest.  

                (a)    Each
Committed Loan shall bear interest on the outstanding principal amount thereof from the applicable Borrowing Date at a
rate per annum equal to the LIBO Rate or the Base Rate, as the case may be (and subject to the Company’s right to
convert to other Types of Loans under Section 2.04). Each Bid Loan shall bear interest on the outstanding principal
amount thereof from the relevant Borrowing Date at a rate per annum equal to the LIBO Rate (exclusive of the Applicable
Margin) plus (or minus) the LIBOR Bid Margin, or at the Absolute Rate, as the case may be. 

                (b)    Interest
on each Loan shall be paid in arrears on each Interest Payment Date. Interest shall also be paid on the date of any
prepayment of Committed Loans (except in the case of a Base Rate Committed Loan, as to which such interest shall be paid
on the next Interest Payment Date) under Section 2.08 for the portion of the Loans so prepaid and upon payment
(including prepayment) in full thereof. 

                (c)    Notwithstanding
subsection (a) of this Section, after acceleration or the occurrence and continuation of an Event of Default under
Section 8.01(a) or (c), or commencing five (5) days after the occurrence and continuation of any other Event of
Default, the Company shall pay interest (after as well as before entry of judgment thereon to the extent permitted by
law) on the principal amount of all outstanding Obligations, at a rate per annum which is determined by adding 2% per
annum to the Applicable Margin then in effect for such Loans and, in the case of Obligations not subject to an
Applicable Margin, at a rate per annum equal to the Base Rate plus 2%; provided, however, that, on and
after the expiration of any Interest Period applicable to any Offshore Rate Loan outstanding on the date of occurrence
of such Event of Default or acceleration, the principal amount of such Loan shall, after the expiration of such Interest
Period and during the continuation of such Event of Default or after acceleration, bear interest at a rate per annum
equal to the Base Rate plus 2%. Interest payable under this 

25. 

subsection 2.11(c) shall be payable on demand by the Majority
Banks or the applicable Bid Loan Bank, as the case may be. 

                (d)    Anything
herein to the contrary notwithstanding, the obligations of the Company to any Bank hereunder shall be subject to the
limitation that payments of interest shall not be required for any period for which interest is computed hereunder, to
the extent (but only to the extent) that contracting for or receiving such payment by such Bank would be contrary to the
provisions of any law applicable to such Bank limiting the highest rate of interest that may be lawfully contracted for,
charged or received by such Bank, and in such event the Company shall pay such Bank interest at the highest rate
permitted by applicable law. 

        2.12    Fees.  

                (a)    Facility
Fee.   The Company shall pay to the Agent for the account of each Bank a facility fee (the
“Facility Fee”) (x) prior to the Conversion Date, on the entire portion of such Bank’s
Commitment (whether utilized or unutilized) and (y) from and after the Conversion Date, on the average daily
aggregate outstanding principal amount of all Loans, computed on a quarterly basis in arrears on the last Business Day
of each calendar quarter, equal to the Applicable Facility Fee Rate. Such Facility Fee shall accrue from the Closing
Date to the date on which this Agreement is terminated and all of the Obligations hereunder have been paid in full and
shall be due and payable quarterly in arrears on the last Business Day of each calendar quarter commencing on
September 30, 2004 through the date on which this Agreement is terminated and all of the Obligations hereunder have
been paid in full and on the Conversion Date and the Converted Loan Termination Date, with the final payment to be made
on the date on which this Agreement is terminated and all of the Obligations hereunder have been paid in full;
provided that, in connection with any reduction or termination of Commitments under Section 2.07, the
accrued Facility Fee calculated for the period ending on such date shall also be paid on the date of such reduction or
termination, with the following quarterly payment being calculated on the basis of the period from such reduction or
termination date to such quarterly payment date. The Facility Fees provided in this subsection shall accrue at all
times after the above-mentioned commencement date, including at any time during which one or more conditions in
Article IV are not met. 

                (b)    Utilization
Fee.   The Company shall pay to the Agent for the account of each Bank a utilization fee (the
“Utilization Fee”) on the actual outstanding Loan balance for all days on which the Combined Utilized
Amount exceeds fifty percent (50%) of the Combined Commitment (or, if all or any part of the Combined Commitment has
been terminated, the Combined Commitment in effect immediately prior to such termination), equal to the Applicable
Utilization Fee Rate. Such utilization fee shall (i) be computed on a quarterly basis in arrears on the last
Business Day of each calendar quarter during which the Combined Utilized Amount exceeds fifty percent (50%) of the
Combined Commitment (or, if all or any part of the Combined Commitment has been terminated, the Combined Commitment in
effect immediately prior to such termination), (ii) accrue for all such days from the Closing Date to the date on
which this Agreement is terminated and all of the Obligations hereunder have been paid in full, and (iii) be
payable in arrears on the last Business Day of each such quarter commencing on the last Business Day of the fiscal
quarter following the Closing Date through the date on which this Agreement is terminated and all of the Obligations
hereunder have been paid in full and on the Conversion Date and the Converted Loan Termination Date, with the final
payment, if 

26. 

applicable, to be made on the date on which this Agreement is
terminated and all of the Obligations hereunder have been paid in full. 

        2.13    Computation of Fees and Interest.  

                (a)    All
computations of interest for Base Rate Committed Loans shall be made on the basis of a year of 365 or 366 days, as the
case may be, and actual days elapsed. All other computations of interest and fees shall be made on the basis of a
360-day year and actual days elapsed (which results in more interest being paid than if computed on the basis of a
365-day year). Interest and fees shall accrue during each period during which interest or such fees are computed from
the first day thereof to the last day thereof. 

                (b)    Each
determination of an interest rate by the Agent shall be conclusive and binding on the Company and the Banks in the
absence of manifest error. The Agent will, at the request of the Company or any Bank, deliver to the Company or the
Bank, as the case may be, a statement showing the quotations used by the Agent in determining any interest rate.

                (c)    The
Agent will, with reasonable promptness, notify the Company and the Banks of each determination of the LIBO Rate;
provided that any failure to do so shall not relieve the Company of any liability hereunder or provide the basis
for any Event of Default or any claim against the Agent. Any change in the interest rate payable on the Offshore Rate
Committed Loans or in the Facility Fees or Utilization Fees payable under Section 2.12 resulting from a change in the
Company’s senior unsecured long-term debt ratings shall become effective and shall apply to any such Loans then
outstanding or to such fees as of the opening of business on the day on which such change in the Company’s debt
ratings becomes effective. The Agent will with reasonable promptness notify the Company and the Banks of the effective
date and the amount of each such change, provided that any failure to do so shall not relieve the Company of any
liability hereunder or provide the basis for any Event of Default or any claim against the Agent. 

        2.14    Payments by the Company.  

                (a)    All
payments to be made by the Company shall be made without set-off, recoupment or counterclaim. Except as otherwise
expressly provided herein, all payments by the Company shall be made to the Agent for the account of the Banks at the
Agent’s Payment Office, and shall be made in dollars and in immediately available funds, no later than 12:00 noon
(Chicago time) on the date specified herein. The Agent will promptly distribute to each Bank its Pro Rata Share (or
other applicable share as expressly provided herein) of such payment in like funds as received. Any payment received by
the Agent later than 12:00 noon (Chicago time) shall be deemed to have been received on the following Business Day and
any applicable interest or fee shall continue to accrue. 

                (b)    Subject
to the provisions set forth in the definition of “Interest Period” herein, whenever any payment is due on a
day other than a Business Day, such payment shall be made on the following Business Day, and such extension of time
shall in such case be included in the computation of interest or fees, as the case may be. 

                (c)    Unless
the Agent receives notice from the Company prior to the date on which any payment is due to the Banks that the Company
will not make such payment in full as 

27. 

and when required, the Agent may assume that the Company has made
such payment in full to the Agent on such date in immediately available funds and the Agent may (but shall not be so
required), in reliance upon such assumption, distribute to each Bank on such due date an amount equal to the amount then
due such Bank. If and to the extent the Company has not made such payment in full to the Agent, each Bank shall repay to
the Agent on demand such amount distributed to such Bank, together with interest thereon at the Federal Funds Rate for
each day from the date such amount is distributed to such Bank until the date repaid. 

        2.15    Payments by the Banks to the Agent.  

                (a)    Unless
the Agent receives notice from a Bank on or prior to the Closing Date or, with respect to any Borrowing after the
Closing Date, prior to 11:00 a.m. (Chicago time) on the date of such Borrowing, that such Bank will not make available
as and when required hereunder to the Agent for the account of the Company the amount of that Bank’s Loan
comprising a Borrowing, the Agent may assume that each Bank has made such amount available to the Agent in immediately
available funds on the Borrowing Date and the Agent may (but shall not be so required), in reliance upon such
assumption, make available to the Company on such date a corresponding amount. If and to the extent any Bank shall not
have made its full amount available to the Agent in immediately available funds and the Agent in such circumstances has
made available to the Company such amount, that Bank shall on the Business Day following such Borrowing Date make such
amount available to the Agent, together with interest at the Federal Funds Rate for each day during such period. A
notice of the Agent submitted to any Bank with respect to amounts owing under this subsection (a) shall be
conclusive, absent manifest error. If such amount is so made available, such payment to the Agent shall constitute such
Bank’s Loan on the date of Borrowing for all purposes of this Agreement. If such amount is not made available to
the Agent on the Business Day following the Borrowing Date, the Agent will notify the Company of such failure to fund
and, upon demand by the Agent, the Company shall pay such amount to the Agent for the Agent’s account, together
with interest thereon for each day elapsed since the date of such Borrowing, at a rate per annum equal to the interest
rate applicable at the time to the Loans comprising such Borrowing. 

                (b)    The
failure of any Bank to make any Committed Loan on any Borrowing Date shall not relieve any other Bank of any obligation
hereunder to make a Committed Loan on such Borrowing Date, but no Bank shall be responsible for the failure of any other
Bank to make the Committed Loan to be made by such other Bank on any Borrowing Date. 

        2.16    Sharing of Payments, Etc.   If, other
than as expressly provided in Section 3.08 or 10.08 hereof, any Bank shall obtain on account of the Committed Loans
made by it any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) in
excess of its Pro Rata Share, such Bank shall immediately (a) notify the Agent of such fact, and (b) purchase from the
other Banks such participations in the Committed Loans made by them as shall be necessary to cause such purchasing Bank
to share the excess payment pro rata with each of them; provided, however, that if all or any portion of
such excess payment is thereafter recovered from the purchasing Bank, such purchase shall to that extent be rescinded
and each other Bank shall repay to the purchasing Bank the purchase price paid therefor, together with an amount equal
to such paying Bank’s ratable share (according to the proportion of (i) the amount of such paying Bank’s
required repayment to (ii) the total amount so recovered from the purchasing Bank) of any interest or other amount
paid or payable by the purchasing Bank in 

28. 

respect of the total amount so recovered. The Company agrees that
any Bank so purchasing a participation from another Bank may, to the fullest extent permitted by law, exercise all its
rights of payment (including the right of set-off, but subject to Section 10.09) with respect to such participation
as fully as if such Bank were the direct creditor of the Company in the amount of such participation. The Agent will
keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased under
this Section and will in each case notify the Banks following any such purchases or repayments. Any Bank having
outstanding both Committed Loans and Bid Loans at any time a right of set-off is exercised by such Bank shall apply the
proceeds of such set-off first to such Bank’s Committed Loans, until its Committed Loans are reduced to zero, and
thereafter to its Bid Loans. 

ARTICLE III  

TAXES, YIELD PROTECTION AND ILLEGALITY  

        3.01    Taxes. 

                (a)    Subject
to subsection 3.01(f), any and all payments by the Company to each Bank or the Agent under this Agreement and any
other Loan Document shall be made free and clear of, and without deduction or withholding for, any Taxes. In addition,
the Company shall pay all Other Taxes. 

                (b)    Subject
to subsection 3.01(f), the Company agrees to indemnify and hold harmless each Bank and the Agent for the full
amount of Taxes or Other Taxes (including any Taxes or Other Taxes imposed by any jurisdiction on amounts payable under
this Section) paid by the Banks or the Agent and any liability (including penalties, interest, additions to tax and
expenses) arising therefrom or with respect thereto, whether or not such Taxes or Other Taxes were correctly or legally
asserted. Payment under this indemnification shall be made within 30 days after the date any Bank or the Agent makes
written demand therefor. If the Company in good faith determines that any such Taxes or Other Taxes for which
indemnification has been sought hereunder are not due or owing or otherwise correctly assessed, each Bank or the Agent
at the request of the Company, or the Company at the election of each Bank or the Agent following any such request, in
either case at the expense of the Company, shall by appropriate means file for a refund or otherwise contest the payment
of such Taxes or Other Taxes, provided that any such filing or contest does not result in any penalty, lien or other
liability to any Bank or the Agent for which the Company has not provided a satisfactory undertaking to indemnify and
hold any Bank or the Agent harmless. The Banks and the Agent agree to provide reasonable cooperation to the Company in
connection with any such filing or contest, at the Company’s expense and, if the Company has paid any such Tax or
Other Tax or compensated the Banks or Agent with respect thereto, any refund thereof shall belong and be remitted to the
Company. 

                (c)    If
the Company shall be required by law to deduct or withhold any Taxes or Other Taxes from or in respect of any sum
payable hereunder to any Bank or the Agent, then, subject to subsection 3.01(f): 

	  	        (i)    the
sum payable shall be increased as necessary so that after making all required deductions and withholdings (including
deductions and withholdings applicable to additional sums payable under this Section) such Bank or the Agent, as the

29. 

	  	case may be, receives an amount equal to the sum it
would have received had no such deductions or withholdings been made; 

	  	        (ii)    the
Company shall make such deductions and withholdings; 

	  	        (iii)    the
Company shall pay the full amount deducted or withheld to the relevant taxing authority or other authority in accordance
with applicable law; and 

	  	        (iv)    the
Company shall also pay to each Bank or the Agent for the account of such Bank, at the time interest is paid, all
additional amounts which the respective Bank specifies as necessary to preserve the after-tax yield the Bank would have
received if such Taxes or Other Taxes had not been imposed. 

                (d)    Within
30 days after the date of any payment by the Company of Taxes or Other Taxes, the Company shall furnish the Agent
the original or a certified copy of a receipt evidencing payment thereof, or other evidence of payment satisfactory to
the Agent. 

                (e)    Each
Bank which is a foreign person (i.e., a person other than a United States person for United States Federal income tax
purposes) agrees that: 

	  	        (i)    it
shall, no later than the Closing Date (or, in the case of a Bank which becomes a party hereto pursuant to
Section 10.08 after the Closing Date, the date upon which the Bank becomes a party hereto) deliver to the Company
through the Agent two accurate and complete signed originals of Internal Revenue Service Form W-8 BEN or any
successor thereto (“Form W-8 BEN”), or two accurate and complete signed originals of Internal
Revenue Service Form W-8 ECI or any successor thereto (“Form W-8 ECI”), as appropriate, in
each case indicating that the Bank is on the date of delivery thereof entitled to receive payments of principal,
interest and fees under this Agreement free from withholding of United States Federal income tax; 

	  	        (ii)    if
at any time the Bank makes any changes necessitating a new Form W-8 BEN or Form W-8 ECI, it shall with
reasonable promptness deliver to the Company through the Agent in replacement for, or in addition to, the forms
previously delivered by it hereunder, two accurate and complete signed originals of Form W-8 BEN; or two
accurate and complete signed originals of Form W-8 ECI, as appropriate, in each case indicating that the Bank
is on the date of delivery thereof entitled to receive payments of principal, interest and fees under this Agreement
free from withholding of United States Federal income tax; 

	  	        (iii)    it
shall, before or promptly after the occurrence of any event (including the passing of time) requiring a change in or
renewal of the most recent Form W-8 BEN or Form W-8 ECI previously delivered by such Bank, deliver
to the Company through the Agent two accurate and complete original signed copies of Form W-8 BEN or
Form W-8 ECI in replacement for the forms previously delivered by the Bank; and 

	  	        (iv)    it
shall, promptly upon the Company’s or the Agent’s reasonable request to that effect, deliver to the Company or
the Agent (as the case may be) such other forms or similar documentation as may be required from time to time by any

30. 

	  	applicable law, treaty, rule or regulation in order to
establish such Bank’s tax status for withholding purposes. 

                (f)    The
Company will not be required to indemnify, hold harmless or pay any additional amounts in respect of United States
Federal income tax pursuant to subsection 3.01(c) to any Bank for the account of any Lending Office of such Bank:

	  	        (i)    if
the obligation to indemnify, hold harmless or pay such additional amounts would not have arisen but for a failure by
such Bank to comply with its obligations (if any) under subsection 3.01(e) in respect of such Lending Office;

	  	        (ii)    if
such Bank shall have delivered to the Company a Form W-8 BEN in respect of such Lending Office pursuant to
subsection 3.01(e), and such Bank shall not at any time be entitled to exemption from deduction or withholding of
United States Federal income tax in respect of payments by the Company hereunder for the account of such Lending Office
for any reason other than a change in United States law or regulations or in the official interpretation of such law or
regulations by any governmental authority charged with the interpretation or administration thereof (whether or not
having the force of law) after the date of delivery of such Form W-8 BEN; or 

	  	        (iii)    if
the Bank shall have delivered to the Company a Form W-8 ECI in respect of such Lending Office pursuant to
subsection 3.01(e), and such Bank shall not at any time be entitled to exemption from deduction or withholding of
United States Federal income tax in respect of payments by the Company hereunder for the account of such Lending Office
for any reason other than a change in United States law or regulations or any applicable tax treaty or regulations or in
the official interpretation of any such law, treaty or regulations by any governmental authority charged with the
interpretation or administration thereof (whether or not having the force of law) after the date of delivery of such
Form W-8 ECI. 

                (g)    If
the Company is required to pay additional amounts to any Bank or the Agent pursuant to subsection (c) of this
Section, then such Bank shall use reasonable efforts (consistent with legal and regulatory restrictions) to change the
jurisdiction of its Lending Office so as to eliminate any such additional payment by the Company which may thereafter
accrue, if such change in the judgment of such Bank is not otherwise disadvantageous to such Bank. 

                (h)    Each
Bank agrees to promptly notify the Company of the first written assessment of any Taxes payable by the Company hereunder
which is received by such Bank, provided that failure to give such notice shall not in any way prejudice the
Bank’s rights under Section 3.01 hereof. The Company shall not be obligated to pay any Taxes under
Section 3.01 which are assessed against any Bank if the statute of limitations applicable thereto (as same may be
extended from time to time by agreement between such Bank and the relevant Governmental Authority) has lapsed.
Additionally, the Company shall not be obligated to pay any penalties, interest, additions to tax or expenses with
respect to any final assessment of Taxes against any Bank (i) unless such Bank shall have first notified the
Company in writing of such final assessment, and (ii) which are attributable to periods exceeding 90 days prior to
the date of receipt by the Company of such notice. 

31. 

        3.02    Illegality.  

                (a)    If
any Bank determines that the introduction of any Requirement of Law, or any change in any Requirement of Law, or in the
interpretation or administration of any Requirement of Law, has made it unlawful, or any central bank or other
Governmental Authority has asserted that it is unlawful, for any Bank or its applicable Lending Office to make Offshore
Rate Loans, then, on notice thereof by the Bank to the Company through the Agent, any obligation of that Bank to make
additional Offshore Rate Loans (including in respect of any LIBOR Bid Loan as to which the Company has accepted such
Bank’s Competitive Bid, but as to which the Borrowing Date has not arrived) shall be suspended until the Bank
notifies the Agent and the Company that the circumstances giving rise to such determination no longer exist. 

                (b)    If
a Bank determines that it is unlawful to maintain any Offshore Rate Loan, the Company shall, upon its receipt of notice
of such fact and demand from such Bank (with a copy to the Agent), prepay in full such Offshore Rate Loans of that Bank
then outstanding, together with interest accrued thereon and amounts required under Section 3.04, either on the
last day of the Interest Period thereof, if the Bank may lawfully continue to maintain such Offshore Rate Loans to such
day, or immediately, if the Bank may not lawfully continue to maintain such Offshore Rate Loan. If the Company is
required to so prepay any Offshore Rate Committed Loan, then concurrently with such prepayment, the Company shall borrow
from the affected Bank, and the affected Bank shall lend to the Company, in the amount of such repayment, a Base Rate
Committed Loan. 

                (c)    If
the obligation of any Bank to make or maintain Offshore Rate Committed Loans has been so terminated or suspended, the
Company may elect, by giving notice to the Bank through the Agent that all Loans which would otherwise be made by the
Bank as Offshore Rate Committed Loans shall be instead Base Rate Committed Loans. 

                (d)    Before
giving any notice to the Agent under this Section, the affected Bank shall designate a different Lending Office with
respect to its Offshore Rate Loans if such designation will avoid the need for giving such notice or making such demand
and will not, in the judgment of the Bank, be illegal or otherwise disadvantageous to the Bank in such Bank’s
reasonable judgment. 

        3.03    Increased Costs and Reduction of Return.  

                (a)    If
any Bank determines that, due to either (i) the introduction of or any change in or in the interpretation of any
law or regulation after the Closing Date or (ii) the compliance by that Bank with any guideline or request from any
central bank or other Governmental Authority (whether or not having the force of law) after the Closing Date, there
shall be any increase in the cost to such Bank of agreeing to make or making, funding or maintaining any Offshore Rate
Loans, then the Company shall be liable for, and shall from time to time, upon demand (with a copy of such demand to be
sent to the Agent), pay to the Agent for the account of such Bank, additional amounts as are sufficient to compensate
such Bank for such increased costs. 

                (b)    If
any Bank shall have determined that (i) the introduction after the Closing Date of any Capital Adequacy Regulation,
(ii) any change after the Closing Date in any 

32. 

Capital Adequacy Regulation, (iii) any change after the
Closing Date in the interpretation or administration of any Capital Adequacy Regulation by any central bank or other
Governmental Authority charged with the interpretation or administration thereof, or (iv) compliance by the Bank
(or its Lending Office) or any corporation controlling the Bank with any change in any Capital Adequacy Regulation after
the Closing Date, affects the amount of capital required to be maintained by any Bank or any corporation controlling any
Bank and (taking into consideration such Bank’s or such corporation’s policies with respect to capital
adequacy and such Bank’s desired return on capital) determines that the amount of such capital is increased as a
consequence of its Commitment, loans, credits or obligations under this Agreement, then, upon demand of such Bank to the
Company through the Agent, the Company shall pay to the applicable Bank, from time to time as specified by such Bank,
additional amounts sufficient to compensate such Bank for such increase. 

                (c)    The
Company shall not be obligated to pay any amounts under subsection 3.03(a) or (b) to any Bank (i) unless such
Bank shall have first notified the Company in writing that it intends to seek compensation from the Company pursuant to
such subsection, and (ii) which are attributable to periods exceeding 90 days prior to the date of receipt by the
Company of such notice. 

        3.04    Funding
Losses.   The Company shall reimburse each Bank and hold each Bank harmless from any direct loss or
expense (but excluding any consequential loss or expense) which the Bank may sustain or incur as a consequence of:

                (a)    the
failure of the Company to make on a timely basis any payment required hereunder of principal of any Offshore Rate Loan;

                (b)    the
failure of the Company to borrow a Bid Loan after the Agent has notified a Bank pursuant to subsection 2.06(g)(i) that
its Competitive Bid has been accepted by the Company, or the failure of the Company to borrow, continue or convert a
Committed Loan after the Company has given (or is deemed to have given) a Notice of Borrowing or a Notice of
Conversion/Continuation; 

                (c)    the
failure of the Company to make any prepayment of any Committed Loan in accordance with any notice delivered under
Section 2.08; 

                (d)    the
prepayment (including pursuant to Sections 2.08 or 2.09) or payment after acceleration thereof following an Event
of Default of any Offshore Rate Loan or Absolute Rate Bid Loan on a day that is not the last day of the relevant
Interest Period; or 

                (e)    the
automatic conversion under the proviso contained in Section 2.04(a) or under the proviso contained in
Section 2.08 of any Offshore Rate Committed Loan to a Base Rate Committed Loan on a day that is not the last day of
the relevant Interest Period; 

including any such loss or expense arising from the liquidation or
reemployment of funds obtained by it to maintain its Offshore Rate Loans or from fees payable to terminate the deposits
from which such funds were obtained. For purposes of calculating amounts payable by the Company to the Banks under this
Section and under subsection 3.03(a), each Offshore Rate Committed Loan made by a Bank (and each related
reserve, special deposit or similar requirement) shall be conclusively deemed to have been funded at the LIBO Rate by a
matching 

33. 

deposit or other borrowing in the interbank eurodollar market for a
comparable amount and for a comparable period, whether or not such Offshore Rate Committed Loan is in fact so funded.

        3.05    Inability
to Determine Rates.   If the LIBO Rate applicable pursuant to subsection 2.11(a) for any
requested Interest Period with respect to a proposed Offshore Rate Loan does not adequately and fairly reflect the cost
to the Banks of funding such Loan, the Agent will promptly so notify the Company and each Bank. Thereafter, the
obligation of the Banks to make additional Offshore Rate Loans hereunder shall be suspended until the Agent upon the
instruction of the Majority Banks revokes such notice in writing. Upon receipt of such notice, the Company without cost
or expense may revoke any Notice of Borrowing or Notice of Conversion/Continuation then submitted by it. If the Company
does not revoke such Notice, the Banks shall make, convert or continue the Committed Loans, as proposed by the Company,
in the amount specified in the applicable notice submitted by the Company, but such Committed Loans shall be made,
converted or continued as Base Rate Committed Loans instead of Offshore Rate Committed Loans. 

        3.06    Reserves
on Offshore Rate Committed Loans.   The Company shall pay to each Bank, as long as such Bank shall be
required under regulations of the FRB to maintain reserves with respect to liabilities or assets consisting of or
including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest
on the unpaid principal amount of each Offshore Rate Committed Loan equal to the actual costs of such reserves allocated
to such Committed Loan by the Bank (as reasonably determined by the Bank), payable on each date on which interest is
payable on such Committed Loan, provided the Company shall have received at least 30 days’ prior written notice
(with a copy to the Agent) of such additional interest from the Bank. If a Bank fails to give notice 30 days prior to
the relevant Interest Payment Date, such additional interest shall be payable 30 days from receipt of such notice. No
Bank shall be entitled to additional interest under this Section 3.06 accruing more than 90 days prior to the date of
receipt by the Company of notice requesting payment thereof. 

        3.07    Certificates
of Banks.   Any Bank claiming reimbursement or compensation under this Article III shall deliver
to the Company (with a copy to the Agent) a certificate setting forth in reasonable detail the amount payable to such
Bank hereunder and such certificate shall be conclusive and binding on the Company in the absence of manifest error
unless the Company shall have notified such Bank of its objection to such certificate (with a copy to the Agent) within
30 days of the Company’s receipt of such claim. 

        3.08    Substitution
of Banks.   Upon the receipt by the Company from any Bank (an “Affected Bank”) of a
claim for compensation under Section 3.01, 3.02 or 3.03, the Company may: (i) request the Affected Bank to use
its reasonable efforts to obtain a replacement bank or financial institution satisfactory to the Company and the Agent
and meeting the qualifications of an Eligible Assignee to acquire and assume all or a ratable part of all of such
Affected Bank’s Committed Loans and Commitment (a “Replacement Bank”); (ii) request one or
more of the other Banks to acquire and assume all or part of such Affected Bank’s Committed Loans and Commitment
(but no other Bank shall be required to do so); or (iii) designate a Replacement Bank. Any such designation of a
Replacement Bank under clause (i) or (iii) shall be subject to the prior written consent of the Agent (which
consent shall not be unreasonably withheld). Any transfer arising under this Section 3.08 shall comply with the
requirements of Section 10.08 and on the date of transfer the Affected Bank shall be entitled to all sums payable
to it hereunder on 

34. 

such date including, outstanding
principal, accrued interest and fees, and other sums (including amounts payable under
Section 3.04(d)) arising under the provisions of this Agreement with reference to
such Committed Loans.  

        3.09    Survival.   The
agreements and obligations of the Company in this Article III shall survive the payment of all other Obligations.
 

ARTICLE IV  

CONDITIONS PRECEDENT  

        4.01    Conditions
to Effectiveness of Commitments and to Initial Loans.   The obligation of each Bank to make its
initial Committed Loan hereunder, and to receive through the Agent the initial Competitive Bid Request, is subject to
and shall become effective when the Agent shall have received on or before the Closing Date all of the following, in
form and substance satisfactory to the Agent and each Bank, and in sufficient copies for each Bank: 

                (a)    Credit
Agreement; Notes; Guaranty.   This Agreement, the Guaranty (and, if requested, Notes for each such
requesting Bank) properly executed; 

                (b)    Resolutions;
Incumbency.  

	  	        (i)    Copies
of the resolutions of the board of directors (or appropriate committee thereof) of each of the Company and the initial
Guarantor (together, the “Initial Loan Parties”) authorizing the transactions contemplated by the Loan
Documents to which it is a party, certified as of the Closing Date by the Secretary, Assistant Secretary or other
appropriate officer of such Initial Loan Party; and 

	  	        (ii)    A
certificate of the Secretary, Assistant Secretary or other appropriate officer of each Initial Loan Party certifying the
names and true signatures of the officers of such Initial Loan Party authorized to execute, deliver and perform, this
Agreement, and all other Loan Documents to be delivered by it hereunder; 

                (c)    Organization
Documents; Good Standing.   Each of the following documents:  

	  	        (i)    the
articles or certificate of incorporation and the bylaws of each Initial Loan Party as in effect on the Closing Date,
certified by the Secretary, Assistant Secretary or other appropriate officer of such Initial Loan Party as of the
Closing Date; and 

	  	        (ii)    a
good standing certificate dated within five (5) days of the Closing Date for each Initial Loan Party from the Secretary
of State (or similar, applicable Governmental Authority) of its respective state of incorporation; 

                (d)    Legal
Opinions.   An opinion letter from Anthony C. Scarfone, General Counsel to the Initial Loan Parties,
addressed to the Agent and the Banks, containing opinions substantially in the form of Exhibit H;

35. 

                (e)    Payment
of Fees.   Evidence of payment by the Company of all accrued and unpaid fees, costs and expenses to
the extent then due and payable on the Closing Date, including any such costs, fees and expenses arising under or
referenced in Section 2.12; 

                (f)    Certificate.   A
certificate signed on behalf of the Company by the Company’s chief executive officer, chief financial officer or
treasurer, dated as of the Closing Date, stating that: 

	  	        (i)    the
representations and warranties contained in Article V are true and correct on and as of such date, as though made on and
as of such date; 

	  	        (ii)    no
Default or Event of Default exists as of the Closing Date; and 

	  	        (iii)    there
has occurred since December 31, 2003, no event or circumstance that has resulted or would reasonably be expected to
result in a material adverse change in, or material adverse effect upon, the financial condition of the Company and its
Subsidiaries taken as a whole; 

                (g)    Existing
364-Day Credit Agreement and Existing Bridge Credit Agreement.   Evidence satisfactory to the Agent
that (i) the Existing 364-Day Credit Agreement shall have been or shall simultaneously on the Closing Date be terminated
(except for those provisions that expressly survive the termination thereof), all loans outstanding and other amounts
owed to the lenders or agents thereunder shall have been paid in full, and all liens and security interests granted in
connection therewith shall have been or shall simultaneously on the Closing Date be terminated, and (ii) the aggregate
“Commitments” under (and as defined in) the Existing Bridge Credit Agreement shall have been or shall
simultaneously on the Closing Date be permanently reduced by an amount not less than $150,000,000; and 

                (h)    2004
5-Year Credit Agreement.   Evidence satisfactory to the Agent that the 2004 5-Year Credit Agreement
shall have been duly executed by all parties thereto. 

                (i)    Other
Documents.   Such other approvals, opinions, documents or materials as the Agent or any Bank may
reasonably request, as well as any other information required by Section 326 of the USA PATRIOT Act of 2001 or
necessary for the Agent or any Bank to verify the identity of the Company as required by Section 326 of the USA PATRIOT
Act of 2001. 

        4.02    Conditions
to All Borrowings.   The obligation of each Bank to make any Committed Loan to be made by it, or any
Bid Loan as to which the Company has accepted the relevant Competitive Bid (including the initial Loan), or to continue
or convert any Committed Loan under Section 2.04 is subject to the satisfaction of the following conditions
precedent on the relevant Borrowing Date or Conversion/Continuation Date: 

                (a)    Notice
of Borrowing or Conversion/Continuation.   As to any Committed Loan, the Agent shall have received (with, in the case
of the initial Loan only, a copy for each Bank) a Notice of Borrowing or a Notice of Conversion/Continuation, as
applicable; 

                (b)    Continuation
of Representations and Warranties.   The representations and warranties in Article V (excluding
those contained in Section 5.11(b)) shall be true and correct 

36. 

on and as of such Borrowing Date or Conversion/Continuation Date
with the same effect as if made on and as of such Borrowing Date or Conversion/Continuation Date (except to the extent
such representations and warranties expressly refer to an earlier date, in which case they shall be true and correct as
of such earlier date); and 

                (c)    No
Existing Default.   No Default or Event of Default shall exist or shall result from such Borrowing or
continuation or conversion. 

Each Notice of Borrowing and Notice of Conversion/Continuation and
Competitive Bid Request submitted by the Company hereunder shall constitute a representation and warranty by the Company
hereunder, as of the date of each such notice or request and as of each Borrowing Date or Conversion/Continuation Date,
as applicable, that the conditions in Section 4.02 are satisfied. 

ARTICLE V  

REPRESENTATIONS AND WARRANTIES  

        The
Company represents and warrants to the Agent and each Bank that: 

        5.01    Corporate
Existence and Power.   The Company and each of its Material Subsidiaries:  

                (a)    is
a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation; 

                (b)    has
the power and authority and all governmental licenses, authorizations, consents and approvals to own its assets, carry
on its business (except where the failure to have any such governmental license, authorization, consent or approval
would not reasonably be expected to have a Material Adverse Effect) and as to the Company and each Guarantor only, to
execute, deliver, and perform its obligations under the Loan Documents; 

                (c)    is
duly qualified as a foreign corporation and is licensed and in good standing under the laws of each jurisdiction except
where the failure to so qualify or to be so licensed or in good standing would preclude it from enforcing its rights
with respect to any of its assets or expose it to any liability and which, in either case, would reasonably be expected
to have a Material Adverse Effect; and 

                (d)    is
in all material respects in compliance with the Requirements of Law except to the extent that the failure to do so would
not reasonably be expected to have a Material Adverse Effect. 

        5.02    Corporate
Authorization; No Contravention.   The execution, delivery and performance by the Company of this
Agreement and each other Loan Document to which the Company or any Material Subsidiary is party, have been duly
authorized by all necessary corporate action, and do not and will not: 

                (a)    contravene
the terms of any of the Company’s or such Material Subsidiary’s Organization Documents; 

37. 

                (b)    conflict
with or result in any breach or contravention of, or the creation of any Lien under, any document evidencing any
Contractual Obligation to which the Company or such Material Subsidiary is a party or any order, injunction, writ or
decree of any Governmental Authority to which the Company or such Material Subsidiary or its respective property is
subject except where such conflict, breach, contravention or Lien would not reasonably be expected to have a Material
Adverse Effect; or 

                (c)    violate
any Requirement of Law. 

        5.03    Governmental
Authorization.   No approval, consent, exemption, authorization, or other action by, or notice to, or
filing with, any Governmental Authority, which has not been obtained by the Company and its Subsidiaries, is necessary
or required in connection with the execution, delivery or performance by, or enforcement against, the Company or any of
its Subsidiaries of the Agreement or any other Loan Document. 

        5.04    Binding
Effect.   This Agreement and each other Loan Document to which the Company or any of its Material
Subsidiaries is a party constitute the legal, valid and binding obligations of the Company or such Material Subsidiary,
as applicable, enforceable against the Company or such Material Subsidiary, as applicable, in accordance with their
respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws
affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

        5.05    Litigation.   Except
as specifically disclosed in Schedule 5.05, there are no actions, suits, proceedings, claims or disputes
pending, or to the best knowledge of the Company, threatened or contemplated, at law, in equity, in arbitration or
before any Governmental Authority, against the Company, or its Subsidiaries or any of their respective properties which:

                (a)    purport
to affect or pertain to this Agreement or any other Loan Document, or any of the transactions contemplated hereby or
thereby; or 

                (b)    would
reasonably be expected to have a Material Adverse Effect.  

No injunction, writ, temporary restraining order or any order of
any nature has been issued by any court or other Governmental Authority purporting to enjoin or restrain the execution,
delivery or performance of this Agreement or any other Loan Document, or directing that the transactions provided for
herein or therein not be consummated as herein or therein provided. 

        5.06    No
Default.   At the Closing Date and at the time of any Borrowing, no Default or Event of Default
exists or would result from the incurring of any Obligations by the Company. As of the Closing Date, neither the Company
nor any Subsidiary is in default under or with respect to any Contractual Obligation in any respect which, individually
or together with all such defaults, would reasonably be expected to have a Material Adverse Effect, or that would, if
such default had occurred after the Closing Date, create an Event of Default under subsection 8.01(e). 

        5.07    ERISA
Compliance.   Except as specifically disclosed in Schedule 5.07:  

                (a)    Each
Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other federal or
state law except where non-compliance 

38. 

would not reasonably be expected to result in a Material Adverse
Effect. Each Plan which is intended to qualify under Section 401(a) of the Code has received a favorable
determination letter from the IRS or, if otherwise, the failure to apply for or receive a favorable determination letter
would not reasonably be expected to have a Material Adverse Effect. To the best knowledge of the Company, nothing has
occurred which would cause the loss of qualification the effect of which would reasonably be expected to result in a
Material Adverse Effect. The Company and each ERISA Affiliate has made all required contributions to any Plan subject to
Section 412 of the Code, and no application for a funding waiver or an extension of any amortization period
pursuant to Section 412 of the Code has been made with respect to any Plan when the failure to make such
contribution or when such application or extension would reasonably be expected to result in a Material Adverse Effect.

                (b)    There
are no pending or, to the best knowledge of Company, threatened claims, actions or lawsuits, or action by any
Governmental Authority, with respect to any Plan which has resulted or would reasonably be expected to result in a
Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules
with respect to any Plan which has resulted or would reasonably be expected to result in a Material Adverse Effect.

                (c)    (i) No
ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension
Liability; (iii) neither the Company nor any ERISA Affiliate has incurred, or reasonably expects to incur, any
liability under Title IV of ERISA with respect to any Pension Plan (other than premiums due and not delinquent under
Section 4007 of ERISA); (iv) neither the Company nor any ERISA Affiliate has incurred, or reasonably expects
to incur, any liability (and no event has occurred which, with the giving of notice under Section 4219 of ERISA,
would result in such liability) under Section 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and
(v) neither the Company nor any ERISA Affiliate has engaged in a transaction that could be subject to
Section 4069 or 4212(c) of ERISA that, in the case of any of clauses (i) through (v), would reasonably be
expected to result in a Material Adverse Effect. 

        5.08    Use
of Proceeds; Margin Regulations.   The proceeds of the Loans are to be used solely for the purposes
set forth in and permitted by Section 6.12 and Section 7.05. Neither the Company nor any Subsidiary is
generally engaged in the business of purchasing or selling Margin Stock or extending credit for the purpose of
purchasing or carrying Margin Stock. 

        5.09    Title
to Properties.   The Company and each Subsidiary have good record and marketable title in fee simple
to, or to their knowledge valid leasehold interests in, all real property necessary for the ordinary conduct of their
respective businesses, except for such defects in title as would not reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect. As of the Closing Date, the property of the Company and its Subsidiaries
is subject to no Liens, other than Permitted Liens. 

        5.10    Taxes.   The
Company and its Subsidiaries have filed all Federal and other material tax returns and reports required to be filed, and
have paid all Federal and other material taxes, assessments, fees and other governmental charges levied or imposed upon
them or their properties, income or assets otherwise due and payable, except those which are being contested in good
faith by appropriate proceedings and for which adequate reserves have been provided in 

39. 

accordance with GAAP or where failure to file such return or to pay
any such tax would not reasonably be expected to have a Material Adverse Effect. There is no proposed tax assessment
against the Company or any Subsidiary that would, if made, have a Material Adverse Effect. 

        5.11    Financial Condition.  

                (a)    The
audited consolidated financial statements of the Company and its Subsidiaries dated December 31, 2003, and the
unaudited consolidated financial statements dated March 31, 2004, and the related consolidated statements of income or
operations, balance sheet and cash flows for the fiscal year or the fiscal quarter, respectively, ended on that date:

	  	        (i)    were
prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise
expressly noted therein, subject to ordinary, good faith year end audit adjustments in the case of such unaudited
statements; 

	  	        (ii)    fairly
present the financial condition of the Company and its Subsidiaries as of the date thereof and results of operations for
the period covered thereby; and 

	  	        (iii)    show
all material Indebtedness and other liabilities, direct or contingent, of the Company and its consolidated Subsidiaries
as of the date thereof, including liabilities for taxes, material commitments and Contingent Obligations except for
Indebtedness and other liabilities, the existence of which would not have a Material Adverse Effect. 

                (b)    Since
December 31, 2003, there has been no Material Adverse Effect.  

        5.12    Environmental
Matters.   The Company conducts in the ordinary course of business a review of the effect of existing
Environmental Laws and existing Environmental Claims on its business, operations and properties, and as a result thereof
the Company has reasonably concluded that, except as specifically disclosed in Schedule 5.12, such
Environmental Laws and Environmental Claims would not, individually or in the aggregate, reasonably be expected to have
a Material Adverse Effect. 

        5.13    Regulated
Entities.   None of the Company, any Person controlling the Company, or any Subsidiary, is an
“Investment Company” within the meaning of the Investment Company Act of 1940. The Company is not subject to
any other Federal or state statute or regulation limiting its ability to incur Indebtedness. 

        5.14    No
Burdensome Restrictions.   Neither the Company nor any Subsidiary is a party to or bound by any
Contractual Obligation, or subject to any restriction in any Organization Document, or any Requirement of Law, which
would reasonably be expected to have a Material Adverse Effect. 

        5.15    Copyrights,
Patents, Trademarks and Licenses, etc.   Except as disclosed in Schedule 5.15, the Company or
its Subsidiaries own or are licensed or otherwise have the right to use all of the patents, trademarks, service marks,
trade names, copyrights, contractual franchises, 

40. 

authorizations and other rights that are reasonably necessary for
the operation of their respective businesses, without conflict with the rights of any other Person except where the
failure to own, be licensed to or otherwise have the right to use the same would not have a Material Adverse Effect. To
the best knowledge of the Company, no material slogan or other advertising device, product, process, method, substance,
part or other material now employed, or now contemplated to be employed, by the Company or any Subsidiary infringes upon
any rights held by any other Person where any such infringement would reasonably be expected to have a Material Adverse
Effect. Except as specifically disclosed in Schedule 5.05, no claim or litigation regarding any of the
foregoing is pending or to the knowledge of the Company threatened, which would reasonably be expected to have a
Material Adverse Effect. 

        5.16    Subsidiaries.   As
of the Closing Date, the Company has no Subsidiaries other than those specifically disclosed in part (a) of
Schedule 5.16 hereto and has no material equity investments in any other corporation or entity other than
those specifically disclosed in part (b) of Schedule 5.16. 

        5.17    Insurance.   The
properties of the Company and its Subsidiaries are insured with financially sound and reputable insurance or reinsurance
companies, in such amounts, with such deductibles and covering such risks as are believed by the Company to be adequate
in the exercise of its reasonable business judgment. 

        5.18    Full
Disclosure.   None of the representations or warranties made by the Company or any of its
Subsidiaries in the Loan Documents as of the date such representations and warranties are made or deemed made, and none
of the statements contained in any exhibit, financial report or statements or certificate furnished by or on behalf of
the Company in connection with the Loan Documents, contains any untrue statement of a material fact or omits any
material fact required to be stated therein or necessary to make the statements made therein, in light of the
circumstances under which they are made, not misleading as of the time when made or delivered. 

        5.19    Reportable
Transaction.   The Company does not intend to treat the Loans and related transactions as being a
“reportable transaction” (within the meaning of the Treasury Regulation Section 1.6011-4). In the event
the Company determines to take any action inconsistent with such intention, it will promptly notify the Agent thereof.

        5.20    Solvency.   After
giving effect to the Loans to be made on the date such Loans are requested to be made, the Company and its Subsidiaries
taken as a whole are Solvent. 

        5.21    Specially
Designated Nationals or Blocked Persons List.   None of the Company, Subsidiaries of the Company or
Affiliates of the Company are named on the United States Department of the Treasury’s Specially Designated
Nationals or Blocked Persons list available through http://www.treas.gov/offices/ectoffc/ofac/sdn/index.html or as
otherwise published from time to time. 

41. 

ARTICLE VI  

AFFIRMATIVE COVENANTS  

        So long as any Bank
shall have any Commitment hereunder, or any Loan or other Obligation (other than indemnification) shall remain unpaid or
unsatisfied, unless the Majority Banks waive compliance in writing: 

        6.01    Financial
Statements.   The Company shall deliver to the Agent, in form and detail reasonably satisfactory to
the Agent, with sufficient copies for each Bank:  

                (a)    as
soon as available, but not later than the date which is the earlier of (x) 120 days after the end of each fiscal
year or (y) five (5) Business Days after the delivery of the following financial statements to the SEC, a copy of
the audited consolidated balance sheet of the Company and its consolidated Subsidiaries as at the end of such year and
the related consolidated statements of income or operations, shareholders’ equity and cash flows for such year,
setting forth in each case in comparative form the figures for the previous fiscal year, and accompanied by the opinion
of PriceWaterhouseCoopers LLP or another nationally-recognized independent public accounting firm (“Independent
Auditor”) which report shall state that such consolidated financial statements present fairly, in all material
respects, the financial position for the periods indicated in conformity with GAAP. Such opinion shall not be qualified
or limited because of a restricted or limited examination by the Independent Auditor of any material portion of the
Company’s or any Subsidiary’s records; and 

                (b)    as
soon as available, but not later than the date which is the earlier of (x) 60 days after the end of each of the first
three fiscal quarters of each fiscal year or (y) five (5) Business Days after the delivery of the following financial
statements to the SEC, a copy of the unaudited consolidated balance sheet of the Company and its consolidated
Subsidiaries as of the end of such quarter and the related consolidated statements of income and cash flows for the
period commencing on the first day and ending on the last day of such quarter, and certified on behalf of the Company by
a Responsible Officer as fairly presenting, in all material respects and in accordance with GAAP (subject to ordinary,
good faith year-end audit adjustments), the financial position and the results of operations of the Company and its
consolidated Subsidiaries. 

        6.02    Certificates;
Other Information.   The Company shall furnish to the Agent, with sufficient copies for each Bank:
 

                (a)    concurrently
with the delivery of the financial statements referred to in subsections 6.01(a) and (b), a Compliance Certificate
executed by a Responsible Officer on behalf of the Company which certifies that no Default or Event of Default has
occurred and is continuing (except as described therein); 

                (b)    promptly,
copies of all financial statements and reports that the Company sends to its shareholders, and copies of all financial
statements and regular, periodical or special reports (including Forms 10K, 10Q and 8K) that the Company or any
Subsidiary may make to, or file with, the SEC; and 

                (c)    promptly,
such additional information regarding the business, financial or corporate affairs of the Company or any Subsidiary as
the Agent, at the request of any Bank, 

42. 

may from time to time reasonably request and which materially
relates to the ability of the Company to perform under this Agreement. 

        6.03    Notices.   Upon
obtaining knowledge of any event described below, the Company shall promptly notify the Agent and each Bank: 

                (a)    of
the occurrence of any Default or Event of Default; 

                (b)    of
any of the following matters of which a Responsible Officer obtains knowledge that would result in a Material Adverse
Effect: (i) breach or non-performance of, or any default under, a Contractual Obligation of the Company or any
Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension between the Company or any
Subsidiary and any Governmental Authority; or (iii) the commencement of, or any material development in, any
litigation or proceeding affecting the Company or any Subsidiary, including pursuant to any applicable Environmental
Laws; 

                (c)    of
the occurrence of any of the following events affecting the Company or any ERISA Affiliate which would reasonably be
expected to result in a Material Adverse Effect (but in no event more than 10 days after a Responsible Officer obtains
knowledge of such event), and deliver to the Agent and each Bank a copy of any notice with respect to such event that is
filed with a Governmental Authority and any notice delivered by a Governmental Authority to the Company or any ERISA
Affiliate with respect to such event: 

	  	        (i)    an
ERISA Event;  

	  	        (ii)    a
material increase in the Unfunded Pension Liability of any Pension Plan;  

	  	        (iii)    the
adoption of, or the commencement of contributions to, any Plan subject to Section 412 of the Code by the Company or
any ERISA Affiliate; or 

	  	        (iv)    the
adoption of any amendment to a Plan subject to Section 412 of the Code, if such amendment results in a material
increase in contributions or Unfunded Pension Liability; 

                (d)    of
any material change in accounting policies or financial reporting practices by the Company or any of its consolidated
Subsidiaries which would reasonably be expected to materially affect the Company’s consolidated financial reports;
and 

                (e)    of
any change in the Company’s senior unsecured long-term debt ratings as publicly announced by either S&P or
Moody’s including placement of such ratings on watch status, provided that any failure by the Company to
give notice of such change shall not affect the Company’s payment obligations hereunder and such failure shall not
constitute an Event of Default. 

Each notice under this Section shall be accompanied by a
written statement by a Responsible Officer setting forth details of the occurrence referred to therein, and stating what
action the Company or any affected Subsidiary proposes to take with respect thereto and at what time. 

43. 

Each notice under subsection 6.03(a) shall describe with
particularity any and all provisions of this Agreement or other Loan Document (if any) that have been breached or
violated. 

        6.04    Preservation
of Corporate Existence, Etc.   Except pursuant to a transaction permitted under Section 7.02 and
Section 7.03, the Company shall, and shall cause each Material Subsidiary to: 

                (a)    preserve
and maintain in full force and effect its corporate existence and good standing under the laws of its state or
jurisdiction of incorporation; 

                (b)    to
the extent practicable, using reasonable efforts, preserve and maintain in full force and effect all governmental
rights, privileges, qualifications, permits, licenses and franchises necessary or desirable in the normal conduct of its
business except (x) when the non-preservation and non-maintenance of such rights, privileges, qualifications,
permits, licenses or franchises would not reasonably be expected to have a Material Adverse Effect or (y) in connection
with transactions permitted by Section 7.03 and sales of assets permitted by Section 7.02; 

                (c)    use
reasonable efforts, in the ordinary course of business, to preserve its business organization and goodwill except when
in the reasonable judgment of the Company it is not economical to do so or where the failure to do so would not
reasonably be expected to have a Material Adverse Effect; and 

                (d)    to
the extent practicable, using reasonable efforts, preserve or renew all of its registered patents, trademarks, trade
names and service marks, except when non-preservation or non-renewal of such patents, trademarks, trade names or service
marks would not reasonably be expected to have a Material Adverse Effect. 

        6.05    Maintenance
of Property.   The Company shall maintain, and shall cause each Subsidiary to maintain, and preserve
all its property which is used or useful in its business in good working order and condition, ordinary wear and tear and
casualty loss excepted and make all necessary repairs thereto and renewals and replacements thereof except when in the
reasonable judgment of the Company it is not economical to do so or where the failure to do so would not reasonably be
expected to have a Material Adverse Effect. The Company and each Subsidiary shall use the standard of care typical in
the industry in the operation and maintenance of its facilities except where the failure to do would not reasonably be
expected to have a Material Adverse Effect. 

        6.06    Insurance.   The
Company shall maintain, and shall cause each Material Subsidiary to maintain, with financially sound and reputable
insurers or independent reinsurers, insurance with respect to its properties and business against loss or damage of the
kinds and in the amounts determined by the Company to be necessary or desirable in the exercise of its reasonable
business judgment. 

        6.07    Payment
of Obligations.   The Company shall, and shall cause each Subsidiary to, pay and discharge as the
same shall become due and payable, all their respective obligations and liabilities, including: 

44. 

                (a)    all
tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are
being contested in good faith by appropriate proceedings and adequate reserves in accordance with GAAP are being
maintained by the Company or such Subsidiary or unless the failure to pay or discharge would not have a Material Adverse
Effect; 

                (b)    all
lawful claims which, if unpaid, would by law become a Lien upon its property except when the failure to pay or discharge
would not have a Material Adverse Effect; and 

                (c)    all
Indebtedness, as and when due and payable (except for such Indebtedness which is contested by the Company or any
Subsidiary in good faith or where the failure to pay or discharge would not reasonably be expected to result in a
Material Adverse Effect), but subject to any subordination provisions contained in any instrument or agreement
evidencing such Indebtedness. 

        6.08    Compliance
with Laws.   The Company shall comply, and shall cause each Subsidiary to comply, in all material
respects with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business
(including the Federal Fair Labor Standards Act), except such as may be contested in good faith or as to which a bona
fide dispute may exist or where the failure to comply would not have a Material Adverse Effect. 

        6.09    Compliance
with ERISA.   The Company shall, and shall cause each of its ERISA Affiliates
to: (a) maintain each Plan in compliance in all material respects with the applicable provisions of ERISA, the
Code and other federal or state law except where non-compliance would not reasonably be expected to result in a Material
Adverse Effect; and (b) make all required contributions to any Plan subject to Section 412 of the Code except
where failure to make any contribution would not reasonably be expected to result in a Material Adverse Effect.

        6.10    Inspection
of Property and Books and Records.   The Company shall maintain and shall cause each Material
Subsidiary to maintain proper books of record and account, in which full, true and correct entries in conformity with
GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of
the Company and such Subsidiary. Subject to reasonable safeguards to protect confidential information, the Company shall
permit, and shall cause each Material Subsidiary to permit, representatives and independent contractors of the Agent or
any Bank to visit and inspect any of their respective properties, to examine their respective corporate, financial and
operating records, and make copies thereof or abstracts therefrom, and with respect to the Company but not its
Subsidiaries to discuss their respective affairs, finances and accounts with the Company’s directors, senior
officers, and independent public accountants, all at such reasonable times during normal business hours and as often as
may be reasonably desired, upon reasonable advance notice to the Company. Such inspections and examinations described in
the preceding sentence (i) by or on behalf of any Bank shall, unless occurring at a time when an Event of Default
shall be continuing, be at such Bank’s expense and (ii) by or on behalf of the Agent, other than the first
such inspection or examination occurring during any calendar year or any inspections and examination occurring at a time
when an Event of Default be continuing, shall be at the Agent’s expense; all other such inspections and visitations
shall be at the Company’s expense and at any time during normal business hours and without advance notice.

45. 

        6.11    Environmental
Laws.   The Company shall, and shall cause each Subsidiary to, conduct its operations and keep and
maintain its property in compliance with all Environmental Laws except where the failure to comply would not have a
Material Adverse Effect. 

        6.12    Use
of Proceeds.   The Company shall use the proceeds of the Loans for commercial paper liquidity
support, to repurchase the Company’s capital stock, to refinance Indebtedness under the Existing 364-Day Credit
Agreement and a portion of the Existing Bridge Credit Agreement and for other general corporate purposes including
Acquisitions not in contravention of any Requirement of Law or any provision of this Agreement. 

        6.13    Guarantors.   The
Company shall cause (i) each Subsidiary that (a) is created for the purpose of acquiring assets or capital
stock or other ownership interests in connection with an Acquisition and (b) becomes a Material Subsidiary after
giving effect to such Acquisition, and (ii) each Material Subsidiary acquired in connection with an Acquisition, in
each case, to guarantee the Obligations pursuant to the Guaranty promptly and in any event within 30 days following
the date of creation or acquisition thereof. In furtherance of the foregoing, the Company shall cause such Material
Subsidiary to (i) execute a supplement to the Guaranty and (ii) deliver such other documentation as the Agent
may reasonably request in connection with the foregoing, including, without limitation, certified resolutions and other
authority documents of such Material Subsidiary and, to the extent requested by the Agent, favorable opinions of counsel
to such Material Subsidiary (which shall cover, among other things, the legality, validity, binding effect and
enforceability of the Guaranty), all in form, content and scope reasonably satisfactory to the Agent. 

ARTICLE VII  

NEGATIVE COVENANTS  

        So long as any Bank
shall have any Commitment hereunder, or any Loan or other Obligation (other than indemnification) shall remain unpaid or
unsatisfied, unless the Majority Banks waive compliance in writing: 

        7.01    Limitation
on Liens.    The Company shall not, and shall not suffer or permit any Subsidiary to, directly
or indirectly, make, create, incur, assume or suffer to exist any Lien upon or with respect to any part of its property,
whether now owned or hereafter acquired, other than the following (“Permitted Liens”): 

                (a)    any
Lien existing on property of the Company or any Subsidiary on the Closing Date and set forth in
Schedule 7.01 or shown as a liability on the Company’s consolidated financial statements as of March
31, 2004 securing Indebtedness outstanding on such date, provided that the aggregate amount of all such
Indebtedness secured by all such Liens does not exceed $10,000,000; 

                (b)    any
Lien created under any Loan Document or under any “Loan Document” as defined in the Existing Credit
Agreements; 

                (c)    Liens
for taxes, fees, assessments or other governmental charges which are not delinquent or remain payable without penalty,
or to the extent that non-payment thereof is 

46. 

permitted by Section 6.07, provided that no notice of lien has
been filed or recorded under the Code; 

                (d)    carriers’,
warehousemen’s, mechanics’, landlords’, materialmen’s, repairmen’s or other similar Liens
arising in the ordinary course of business which are not delinquent or remain payable without penalty or which are being
contested in good faith and by appropriate proceedings, which proceedings have the effect of preventing the forfeiture
or sale of the property subject thereto; 

                (e)    Liens
consisting of pledges or deposits required in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation; 

                (f)    Liens
on the property of the Company or any of its Subsidiaries securing (i) the non-delinquent performance of bids,
trade contracts (other than for borrowed money), leases, statutory obligations, (ii) contingent obligations on
surety and appeal bonds, and (iii) other non-delinquent obligations of a like nature; in each case, incurred in the
ordinary course of business, provided all such Liens in the aggregate would not (even if enforced) cause a Material
Adverse Effect; 

                (g)    easements,
rights-of-way, restrictions and other similar encumbrances incurred in the ordinary course of business which, in the
aggregate, are not substantial in amount, and which do not in any case materially detract from the value of the property
subject thereto or interfere with the ordinary conduct of the businesses of the Company and its Subsidiaries;

                (h)    Liens
on (i) assets of corporations which become Subsidiaries after the date of this Agreement, provided,
however, that such Liens existed at the time the respective corporations became Subsidiaries, and (ii) any assets
prior to the acquisition thereof by the Company or any Subsidiary and not created in contemplation of such acquisition,
provided, however, that such Liens do not encumber any other property or assets; 

                (i)    purchase
money security interests on any property acquired or held by the Company or its Subsidiaries in the ordinary course of
business, securing Indebtedness incurred or assumed for the purpose of financing all or any part of the cost of
acquiring such property; providedthat (i) any such Lien attaches to such property concurrently with
or within 20 days after the acquisition thereof, (ii) such Lien attaches solely to the property so acquired in such
transaction, and (iii) the principal amount of the Indebtedness secured thereby does not exceed 100% of the cost of
such property; 

                (j)    Liens
securing obligations in respect of capital leases on assets subject to such leases; 

                (k)    Liens
arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights of set-off or
similar rights and remedies as to deposit accounts or other funds maintained with a creditor depository institution;
provided that (i) such deposit account is not a dedicated cash collateral account and is not subject
to restrictions against access by the Company in excess of those set forth by regulations promulgated by the FRB, and
(ii) such deposit account is not intended by the Company or any Subsidiary to provide collateral 

47. 

to the depository institution except in either case when such
deposit accounts are established or required in the ordinary course of business and would not have a Material Adverse
Effect; 

                (l)    Any
extensions, renewals or replacements of the Liens permitted by clauses (a), (f), (h), (i) and (j) above; and 

                (m)    Notwithstanding
the provisions of subsections 7.01(a) through (l), there shall be permitted Liens on property (including Liens
which would otherwise be in violation of such subsections), provided that the sum of the aggregate Indebtedness
of the Company and its Subsidiaries secured by all Liens permitted under this subsection (m), excluding the Liens
permitted under subsections (a) through (l), shall not exceed an amount equal to 15% of the Company’s total
consolidated assets as shown on its consolidated balance sheet for its most recent prior fiscal quarter. 

        7.02    Disposition
of Assets.   Except as otherwise permitted by any other provision of this Agreement, the Company
shall not, and shall not suffer or permit any Material Subsidiary to, directly or indirectly, sell, assign, lease,
convey, transfer or otherwise dispose of (whether in one or a series of transactions) any property (including accounts
and notes receivable, with or without recourse) or enter into any agreement to do any of the foregoing, except:

                (a)    dispositions
of inventory, or used, worn-out or surplus equipment, all in the ordinary course of business; 

                (b)    dispositions
on reasonable commercial terms and for fair value or which would not have a Material Adverse Effect, provided that
dispositions of the stock of any Material Subsidiary shall not be permitted under this subsection (b); 

                (c)    dispositions
of property between the Company and any consolidated Subsidiary or among consolidated Subsidiaries; and 

                (d)    other
dispositions of property during the term of this Agreement (excluding dispositions permitted under
subsections 7.02(a) through (c)) whose net book value in the aggregate shall not exceed 25% of the Company’s
total consolidated assets as shown on its consolidated balance sheet for its most recent prior fiscal quarter.

        7.03    Consolidations
and Mergers.   The Company shall not, and shall not suffer or permit any Material Subsidiary to,
merge, consolidate with or into, or convey, transfer, lease or otherwise dispose of (whether in one transaction or in a
series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor
of any Person, except: 

                (a)    any
Person may merge with the Company, provided that the Company shall be the continuing or surviving corporation;

                (b)    any
Subsidiary may merge with the Company, provided that the Company shall be the continuing or surviving corporation, or
with any one or more Subsidiaries, provided that (i) if any transaction shall be between a Subsidiary and a
Wholly-Owned Subsidiary, the Wholly-Owned Subsidiary shall be the continuing or surviving corporation and (ii) if
any transaction shall be between a Guarantor and any Subsidiary that is not a Guarantor, the 

48. 

Guarantor shall be the continuing or surviving corporation or,
concurrently with such transaction, such continuing or surviving corporation shall become a Guarantor pursuant to the
Guaranty; and 

                (c)    the
Company or any Subsidiary may convey, transfer, lease or otherwise dispose of all or substantially all of its assets
(upon voluntary liquidation or otherwise), to the Company or another Wholly-Owned Subsidiary, as the case may be,
provided that if (i) any such transaction shall be between a Guarantor and any Wholly-Owned Subsidiary that is not
a Guarantor, and (ii) such Wholly-Owned Subsidiary shall become a Material Subsidiary after giving effect to such
transaction, such Wholly-Owned Subsidiary shall, concurrently with such transaction, become a Guarantor pursuant to the
Guaranty. 

        7.04    Transactions
with Affiliates.   The Company shall not, and shall not suffer or permit any Subsidiary to, enter
into any transaction with any Affiliate (other than a Wholly-Owned Subsidiary) of the Company, except transactions
(a) entered into in good faith and (b) upon commercially reasonable terms and taking into consideration the
totality of circumstances pertaining to such transaction as determined by the Company. 

        7.05    Use
of Proceeds.   The Company shall not, and shall not suffer or permit any Subsidiary to, use any
portion of the Loan proceeds, directly or indirectly, in a manner which violates any applicable Requirement of Law and
which would have a Material Adverse Effect (provided that this Section 7.05 shall not be deemed to permit
the use of Loan proceeds in violation of any Requirement of Law applicable to any Bank). Notwithstanding the foregoing,
at no time shall more than 25% of the value (as determined by a method deemed reasonable for purposes of applicable
regulations relating to Margin Stock) of the Company’s assets consist of Margin Stock, unless the Company has taken
all necessary action so that in the event that more than 25% of the Company’s assets consist of Margin Stock there
shall occur no violation of any Requirement of Law applicable to it or any Bank. 

        7.06    Restricted
Payments.   The Company shall not, and shall not suffer or permit any Subsidiary (other than a
Wholly-Owned Subsidiary) to, declare or make any dividend payment or other distribution of assets, properties, cash,
rights, obligations or securities on account of any shares of any class of its capital stock, or purchase, redeem or
otherwise acquire for value any shares of its capital stock or any warrants, rights or options to acquire such shares,
now or hereafter outstanding; except that the Company or any non-Wholly-Owned Subsidiary may: 

                (a)    declare
and make dividend payments or other distributions payable solely in its common stock; 

                (b)    purchase,
redeem or otherwise acquire shares of its common stock or warrants or options to acquire any such shares with the
proceeds received from the substantially concurrent issue of new shares of its common stock; and 

                (c)    (i) in
the case of the Company, declare or pay cash dividends or cash distributions to its stockholders and purchase, redeem or
otherwise acquire shares of its capital stock or warrants, rights or options to acquire any such shares for cash
provided, that, before and immediately after giving effect to such proposed action, no Default or Event of
Default exists or would exist, and (ii) in the case of any non-Wholly-Owned Subsidiary, declare or pay cash
dividends or cash distributions to its stockholders and purchase, redeem or otherwise acquire 

49. 

shares of its capital stock or warrants, rights or options to
acquire any such shares for cash provided, that, the Company or its respective Subsidiary which owns the equity
interest or interests in such Subsidiary paying such dividends or distributions or purchasing, redeeming or otherwise
acquiring such shares or warrants, rights or options receives at least its proportionate share of such dividends or
distributions or receives a proportionate offer to purchase, redeem or otherwise acquire such shares or warrants, rights
or options, the proportionality of which in each case shall be based upon the affected class or classes of securities.

        7.07    ERISA.   The
Company shall not, and shall not suffer or permit any of its ERISA Affiliates to: (a) engage in a prohibited
transaction or violation of the fiduciary responsibility rules with respect to any Plan which has resulted or would
reasonably be expected to result in a Material Adverse Effect; or (b) engage in a transaction that could be subject
to Section 4069 or 4212(c) of ERISA and which would reasonably be expected to result in a Material Adverse
Effect. 

        7.08    Change
in Business.   The Company shall not, and shall not suffer or permit any Subsidiary to, engage in any
business that would substantially change the general nature of the business conducted by the Company and its
consolidated Subsidiaries on the Closing Date. 

        7.09    Accounting
Changes.   The Company shall not, and shall not suffer or permit any Material Subsidiary to, make any
significant change in accounting treatment or reporting practices, except as required by GAAP, or change the fiscal year
of the Company or of any such Subsidiary, if such change would reasonably be expected to result in a Material Adverse
Effect. 

        7.10    Interest
Coverage.   The Company shall not permit as of the last day of any fiscal quarter (commencing with
the period ending September 30, 2004), on a consolidated basis, the ratio of (i) Earnings Before Interest and
Taxes to (ii) Interest Expense, to be less than 3.0 to 1.0. For purposes of this section, “Earnings
Before Interest and Taxes” means as at the end of any fiscal quarter of the Company for the period of four
consecutive fiscal quarters ended as at such date, the sum of (a) the consolidated net income (or net loss) of the
Company and its Subsidiaries for such period as determined in accordance with GAAP, plus (b) all amounts treated as
interest expense for such period to the extent included in the determination of such consolidated net income (or loss);
plus (c) all taxes accrued for such period on or measured by income to the extent included in the determination of
such consolidated net income (or loss); provided, however, that consolidated net income (or loss) shall be
computed for the purposes of this definition without giving effect to extraordinary losses or extraordinary gains for
such period; and “Interest Expense” means as at the end of any fiscal quarter of the Company for the period of
four consecutive fiscal quarters ended as at such date, all amounts treated as interest expense for such period to the
extent included in the determination of the Company’s consolidated net income (or net loss) for such period as
determined in accordance with GAAP. 

        7.11    Subsidiary
Indebtedness.   The Company shall not permit as of the last day of any fiscal quarter (commencing
with the period ending March 31, 2004), the aggregate Indebtedness of its consolidated Subsidiaries to exceed
$50,000,000. For purposes of this Section 7.11, the term “Indebtedness” shall be deemed to exclude
Indebtedness of a Person which becomes a Subsidiary after the date hereof, provided that such excluded
Indebtedness existed at the time such Person became a Subsidiary and was not created in anticipation thereof.

50. 

ARTICLE VIII  

EVENTS OF DEFAULT  

        8.01    Event
of Default.   Any of the following shall constitute an “Event of Default”:  

                (a)    Non-Payment.   The
Company fails to pay, (i) when and as required to be paid herein, any amount of principal of any Loan, or
(ii) within two (2) Business Days following written notice to the Company given by the Agent or any Bank after the
same becomes due, any interest, fee or any other amount payable hereunder or under any other Loan Document; or

                (b)    Representation
or Warranty.   Any representation or warranty by the Company or any Subsidiary made or deemed made
herein, in any other Loan Document, or which is contained in any certificate, document or financial or other statement
by the Company, any Subsidiary, or any Responsible Officer, furnished at any time under this Agreement, or in or under
any other Loan Document, is incorrect in any material respect on or as of the date made or deemed made; or 

                (c)    Specific
Defaults.   The Company fails to perform or observe any term, covenant or agreement contained in any
of Sections 6.03(a), 6.12, 6.13, 7.02, 7.03, 7.04, 7.05, 7.06, 7.09, 7.10 or 7.11; or 

                (d)    Other
Defaults.   The Company fails to perform or observe (i) Section 6.01(a) hereunder and such
default shall continue unremedied for a period of 5 days after the earlier of (A) the date upon which a
Responsible Officer knew of such failure or (B) the date upon which written notice thereof is given to the Company
by the Agent or any Bank; or (ii) any other term or covenant contained in the Agreement or any other Loan Document,
and such default shall continue unremedied for a period of 30 days after the earlier of (A) the date upon
which a Responsible Officer knew of such failure or (B) the date upon which written notice thereof is given to the
Company by the Agent or any Bank; or 

                (e)    Cross-Default.   (i) The
Company or any Material Subsidiary fails to perform or observe any condition or covenant, or any other event shall
occur or condition shall exist, under (a) the Existing Credit Agreements or (b) any other agreement or instrument
relating to any Indebtedness having an aggregate principal amount (including undrawn committed or available amounts and
including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $100,000,000,
and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on
the date of such failure, if the effect of such failure, event or condition is to cause such Indebtedness to be declared
to be due and payable prior to its stated maturity; provided, that, with respect to any such breach
occurring as a result of a change of control under any agreement or instrument evidencing such Indebtedness of a
Subsidiary of more than $100,000,000 upon the acquisition of such Subsidiary, such breach shall cause an Event of
Default hereunder only if such breach has not been cured (or the Indebtedness related thereto prepaid in full and the
related agreements and instruments shall be terminated) within three days after the occurrence thereof; or (ii) if
there shall occur any other default or event of default, however denominated, under any cross default
provision under any agreement or instrument relating to any such Indebtedness of more than $100,000,000; or

51. 

                (f)    Insolvency;
Voluntary Proceedings.   The Company or any Material Subsidiary (i) ceases or fails to be
solvent, or generally fails to pay, or admits in writing its inability to pay, its debts as they become due, subject to
applicable grace periods, if any, whether at stated maturity or otherwise; (ii) voluntarily ceases to conduct its
business in the ordinary course; (iii) commences any Insolvency Proceeding with respect to itself; or
(iv) takes any action to effectuate or authorize any of the foregoing; or 

                (g)    Involuntary
Proceedings.   (i) Any involuntary Insolvency Proceeding is commenced or filed against the
Company or any Material Subsidiary, or any writ, judgment, warrant of attachment, execution or similar process, is
issued or levied against a substantial part of the Company’s or any such Material Subsidiary’s properties, and
any such proceeding or petition shall not be dismissed, or such writ, judgment, warrant of attachment, execution or
similar process shall not be released, stayed, vacated or fully bonded within 60 days after commencement, filing,
issuance or levy; (ii) the Company or any Material Subsidiary admits the material allegations of a petition against
it in any Insolvency Proceeding, or an order for relief (or similar order under non-U.S. law involving a material
portion of the Company’s or such Material Subsidiary’s total assets) is ordered in any Insolvency Proceeding
involving the Company or any such Material Subsidiary; or (iii) the Company or any Material Subsidiary acquiesces
in the appointment of a receiver, trustee, custodian, conservator, liquidator, mortgagee in possession (or agent
therefor), or other similar Person for itself or a substantial portion of its property or business; or 

                (h)    ERISA.   (i) An
ERISA Event shall occur with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be
expected to result in liability of the Company under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the
PBGC in an aggregate amount in excess of $50,000,000; (ii) the aggregate amount of Unfunded Pension Liability among
all Pension Plans at any time exceeds $50,000,000; or (iii) the Company or any ERISA Affiliate shall fail to pay
when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal
liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of $50,000,000
and, in the case of any of clauses (i) through (iii), such liability or failure to pay shall not have been
vacated, discharged, stayed, appealed or paid within ten (10) Business Days after such liability or payment obligation
arises; or 

                (i)    Monetary
Judgments.   One or more non-interlocutory judgments, non-interlocutory orders, non-interlocutory
decrees or arbitration awards is entered against the Company or any Material Subsidiary involving in the aggregate a
liability (to the extent not covered by independent third-party insurance as to which the insurer does not dispute
coverage) as to any single or related series of transactions, incidents or conditions, of $50,000,000 or more, and the
same shall not have been vacated, discharged, stayed or appealed within the applicable period for appeal from the date
of entry thereof or paid within ten (10) Business Days after the same becomes non-appealable; or 

                (j)    Non-Monetary
Judgments.   Any non-monetary judgment, order or decree is entered against the Company or any
Subsidiary which does or would reasonably be expected to have a Material Adverse Effect; or 

52. 

                (k)    Change
of Control.   There occurs any Change of Control. For purposes of this Section 8.01(k),
(i) a “Change of Control” shall occur if any person or group of persons becomes the beneficial owner of
25% or more of the voting power of the Company for a period of 30 days or more; and (ii) the term
“person” shall have the meaning set forth in Section 13(d) of the Exchange Act and the term
“beneficial owner” shall have the meaning set forth in Rule 13d-3 promulgated under the Exchange Act.

                (l)    Impairment
of Guaranty.   (i) The Guaranty shall fail to remain in full force or effect or any action shall be
taken by the Company or any Guarantor to discontinue or to assert the invalidity or unenforceability of the Guaranty, or
(ii) any Guarantor shall fail to comply with any of the material terms or provisions of the Guaranty to which it is
a party, or (iii) at any time prior to a Guarantor’s release from the Guaranty in accordance with the terms of
this Agreement, such Guarantor shall deny that it has any further liability under the Guaranty to which it is a party,
or shall give notice to such effect. 

        8.02    Remedies.   If
any Event of Default occurs, the Agent shall, at the request of, or may, with the consent of, the Majority Banks,
 

                (a)    declare
the obligation of each Bank to make any Loans to be terminated, whereupon such obligation and such Commitment shall be
terminated; 

                (b)    declare
the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts
owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment,
demand, protest or other notice of any kind, all of which are hereby expressly waived by the Company; and 

                (c)    exercise
on behalf of itself and the Banks all rights and remedies available to it and the Banks under the Loan Documents or
applicable law; 

provided, however, that upon the occurrence of any
event specified in subsection (f) or (g) of Section 8.01 (in the case of clause (i) of
subsection (g) upon the expiration of the 60-day period mentioned therein), the obligation of each Bank to make
Loans shall automatically terminate and the unpaid principal amount of all outstanding Loans and all interest and other
amounts as aforesaid shall automatically become due and payable without further act of the Agent or any Bank without
presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Company.

        8.03    Rights
Not Exclusive.   The rights provided for in this Agreement and the other Loan Documents (whether now
existing or hereafter arising) are cumulative and are not exclusive of any other rights, powers, privileges or remedies
provided by law or in equity. 

ARTICLE IX  

THE AGENT  

        9.01    Appointment
and Authorization.   Each Bank hereby irrevocably appoints, designates and authorizes the Agent to
take such action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such
powers and perform such duties as are expressly delegated to it by the terms of this Agreement or any other Loan
Document, 

53. 

together with such powers as are reasonably incidental thereto.
Notwithstanding any provision to the contrary contained elsewhere in this Agreement or in any other Loan Document, the
Agent shall not have any duties or responsibilities, except those expressly set forth herein, nor shall the Agent have
or be deemed to have any fiduciary relationship with any Bank, and no implied covenants, functions, responsibilities,
duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist
against the Agent. 

        9.02    Delegation
of Duties.   The Agent may execute any of its duties under this Agreement or any other Loan Document
by or through agents, employees or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters
pertaining to such duties. The Agent shall not be responsible for the negligence or misconduct of any agent or
attorney-in-fact that it selects with reasonable care. 

        9.03    Liability
of Agent.   None of the Agent-Related Persons shall (i) be liable for any action taken or
omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the
transactions contemplated hereby (except for its own gross negligence or willful misconduct), or (ii) be
responsible in any manner to any of the Banks for any recital, statement, representation or warranty made by the Company
or any Subsidiary or Affiliate of the Company, or any officer thereof, contained in this Agreement or in any other Loan
Document, or in any certificate, report, statement or other document referred to or provided for in, or received by the
Agent under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness,
genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for any failure of the
Company or any other party to any Loan Document to perform its obligations hereunder or thereunder. No Agent-Related
Person shall be under any obligation to any Bank to ascertain or to inquire as to the observance or performance of any
of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the
properties, books or records of the Company or any of the Company’s Subsidiaries or Affiliates. 

        9.04    Reliance by Agent.  

                (a)    The
Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, resolution, notice, consent,
certificate, affidavit, letter, telegram, facsimile, telex or telephone message, statement or other document or
conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or
Persons, and upon advice and statements of legal counsel (including counsel to the Company), independent accountants and
other experts selected by the Agent. The Agent shall be fully justified in failing or refusing to take any action under
this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Majority Banks
(or all the Banks if specifically required hereunder) as it deems appropriate and, if it so requests, it shall first be
indemnified to its satisfaction by the Banks against any and all liability and expense which may be incurred by it by
reason of taking or continuing to take any such action. The Agent shall in all cases be fully protected in acting, or in
refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the
Majority Banks (or all the Banks if specifically required hereunder) and such request and any action taken or failure to
act pursuant thereto shall be binding upon all of the Banks. 

54. 

                (b)    For
purposes of determining compliance with the conditions specified in Section 4.01, each Bank that has executed this
Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other
matter either sent on or prior to the Closing Date by the Agent to such Bank for consent, approval, acceptance or
satisfaction, or required thereunder to be consented to or approved by or acceptable or satisfactory to the Bank.

        9.05    Notice
of Default.   The Agent shall not be deemed to have knowledge or notice of the occurrence of any
Default or Event of Default, except with respect to defaults in the payment of principal, interest and fees required to
be paid to the Agent for the account of the Banks, unless the Agent shall have received written notice from a Bank or
the Company referring to this Agreement, describing such Default or Event of Default and stating that such notice is a
“notice of default”. The Agent will notify the Banks of its receipt of any such notice. The Agent shall take
such action with respect to such Default or Event of Default as may be requested by the Majority Banks in accordance
with Article VIII; provided, however, that unless and until the Agent has received any such request,
the Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such
Default or Event of Default as it shall deem advisable or in the best interest of the Banks. 

        9.06    Credit
Decision.   Each Bank acknowledges that none of the Agent-Related Persons has made any representation
or warranty to it, and that no act by the Agent hereafter taken, including any review of the affairs of the Company and
its Subsidiaries, shall be deemed to constitute any representation or warranty by any Agent-Related Person to any Bank.
Each Bank represents to the Agent that it has, independently and without reliance upon any Agent-Related Person and
based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into
the business, prospects, operations, property, financial and other condition and creditworthiness of the Company and its
Subsidiaries, and all applicable bank regulatory laws relating to the transactions contemplated hereby, and made its own
decision to enter into this Agreement and to extend credit to the Company hereunder. Each Bank also represents that it
will, independently and without reliance upon any Agent-Related Person and based on such documents and information as it
shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not
taking action under this Agreement and the other Loan Documents, and to make such investigations as it deems necessary
to inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness
of the Company. Except for notices, reports and other documents expressly herein required to be furnished to the Banks
by the Agent, the Agent shall not have any duty or responsibility to provide any Bank with any credit or other
information concerning the business, prospects, operations, property, financial and other condition or creditworthiness
of the Company which may come into the possession of any of the Agent-Related Persons. 

        9.07    Indemnification.   Whether
or not the transactions contemplated hereby are consummated, the Banks shall indemnify upon demand the Agent-Related
Persons (to the extent not reimbursed by or on behalf of the Company and without limiting the obligation of the Company
to do so), pro rata, from and against any and all Indemnified Liabilities; provided, however, that no Bank
shall be liable for the payment to the Agent-Related Persons of any portion of such Indemnified Liabilities resulting
solely from such Person’s gross negligence or willful misconduct. Without limitation of the foregoing, each Bank
shall reimburse the Agent 

55. 

upon demand for its ratable share of any costs or out-of-pocket
expenses (including Attorney Costs) incurred by the Agent in connection with the preparation, execution, delivery,
administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise)
of, or legal advice in respect of rights or responsibilities under, this Agreement, any other Loan Document, or any
document contemplated by or referred to herein, to the extent that the Agent is not reimbursed for such expenses by or
on behalf of the Company. The undertaking in this Section shall survive the payment of all Obligations hereunder
and the resignation or replacement of the Agent. 

        9.08    Agent
in Individual Capacity.   Bank One, Credit Suisse First Boston, Wachovia Bank, National Association,
The Bank of New York, The Bank of Tokyo-Mitsubishi, Ltd. and their respective Affiliates may make loans to, issue
letters of credit for the account of, accept deposits from, acquire equity interests in and generally engage in any kind
of banking, trust, financial advisory, underwriting or other business with the Company and its Subsidiaries and
Affiliates as though Bank One were not the Agent and Credit Suisse First Boston was not the Syndication Agent and
Wachovia Bank, National Association, The Bank of New York and The Bank of Tokyo-Mitsubishi, Ltd. were not the
Documentation Agents hereunder and without notice to or consent of the Banks. The Banks acknowledge that, pursuant to
such activities, Bank One, Credit Suisse First Boston, Wachovia Bank, National Association, The Bank of New York, The
Bank of Tokyo-Mitsubishi, Ltd. or their respective Affiliates may receive information regarding the Company or its
Affiliates (including information that may be subject to confidentiality obligations in favor of the Company or such
Subsidiary) and acknowledge that neither the Agent, the Syndication Agent nor the Documentation Agents shall be under
any obligation to provide such information to them. With respect to its Loans, each of Bank One, Credit Suisse First
Boston, Wachovia Bank, National Association, The Bank of New York and The Bank of Tokyo-Mitsubishi, Ltd. shall have the
same rights and powers under this Agreement as any other Bank and may exercise the same as though it were not the Agent,
the Syndication Agent or the Documentation Agents, as applicable, and the terms “Bank” and “Banks”
include each of Bank One, Credit Suisse First Boston, Wachovia Bank, National Association, The Bank of New York and The
Bank of Tokyo-Mitsubishi, Ltd. in its individual capacity. Notwithstanding anything herein to the contrary, the
Arrangers, the Syndication Agent and the Documentation Agents named herein shall not have any duties or liabilities
under this Agreement, except in their capacity, if any, as Banks. 

        9.09    Successor
Agent.   The Agent may, and at the request of the Company (so long as no Default or Event of Default
exists at the time of such request) or the Majority Banks shall, resign as Agent upon 30 days’ notice to the
Banks. If the Agent resigns under this Agreement, the Company shall appoint from among the Banks a successor agent for
the Banks (unless an Event of Default then exists in which case the Majority Banks shall appoint the successor agent).
If no successor agent is appointed prior to the effective date of the resignation of the Agent, the Agent may appoint,
after consulting with the Banks and the Company, a successor agent from among the Banks. Upon the acceptance of its
appointment as successor agent hereunder, such successor agent shall succeed to all the rights, powers and duties of the
retiring Agent and the term “Agent” shall mean such successor agent and the retiring Agent’s appointment,
powers and duties as Agent shall be terminated. After any retiring Agent’s resignation hereunder as Agent, the
provisions of this Article IX and Sections 10.04 and 10.05 shall inure to its benefit as to any actions taken
or omitted to be taken by it while it was Agent under this Agreement. If no successor agent has accepted appointment as
Agent by the date which is 30 days following a 

56. 

retiring Agent’s notice of resignation, the retiring
Agent’s resignation shall nevertheless thereupon become effective and the Banks shall perform all of the duties of
the Agent hereunder until such time, if any, as the Company or the Majority Banks appoint a successor agent as provided
for above. 

        9.10    Withholding Tax.  

                (a)    If
any Bank claims exemption from withholding tax under a United States tax treaty by providing IRS Form W-8 BEN and such
Bank sells, assigns, grants a participation in, or otherwise transfers all or part of the Obligations of the Company to
such Bank, such Bank agrees to notify the Agent of the percentage amount in which it is no longer the beneficial owner
of Obligations of the Company to such Bank. To the extent of such percentage amount, the Agent will treat such
Bank’s IRS Form W-8 BEN as no longer valid. 

                (b)    Subject
to the requirements of this Agreement, if any Bank claiming exemption from United States withholding tax by filing IRS
Form W-8 ECI with the Agent sells, assigns, grants a participation in, or otherwise transfers all or part of the
Obligations of the Company to such Bank, such Bank agrees to undertake sole responsibility for complying with the
withholding tax requirements imposed by the Code. 

                (c)    If
the IRS or any other Governmental Authority of the United States or any other jurisdiction asserts a claim that the
Agent did not properly withhold tax from amounts paid to or for the account of any Bank (because the appropriate form
was not delivered, was not properly executed, or because such Bank failed to notify the Agent of a change in
circumstances which rendered the exemption from withholding tax ineffective, or for any other reason) such Bank shall
indemnify the Agent fully for all amounts paid, directly or indirectly, by the Agent as tax or otherwise, including
penalties and interest, and including any taxes imposed by any jurisdiction on the amounts payable to the Agent under
this subsection, together with all costs and expenses (including Attorney Costs). The obligation of the Banks under this
subsection shall survive the payment of all Obligations and the resignation or replacement of the Agent.

ARTICLE X  

MISCELLANEOUS  

        10.01    Amendments
and Waivers.   No amendment or waiver of any provision of this Agreement or any other Loan Document,
and no consent with respect to any departure by the Company therefrom, shall be effective unless the same shall be in
writing and signed by the Majority Banks (or by the Agent at the written request of the Majority Banks) and the Company
and acknowledged by the Agent, and then any such waiver and consent shall be effective only in the specific instance and
for the specific purpose for which given; provided, however, that no such waiver, amendment, or consent
shall, unless in writing and signed by the Company and each Bank affected thereby, and acknowledged by the Agent, do any
of the following: 

                (a)    increase
or extend the Commitment of any Bank (or reinstate any Commitment terminated pursuant to subsection 8.02(a));

57. 

                (b)    postpone
or delay any date fixed by this Agreement or any other Loan Document for any payment of principal, interest, Facility
Fees, Utilization Fees or other material amounts due to the Banks (or any of them) hereunder or under any other Loan
Document; 

                (c)    reduce
the principal of, or the rate of interest specified herein on any Loan, or (subject to clause (ii) below) any
Facility Fees, Utilization Fees or other amounts payable hereunder or under any other Loan Document; 

                (d)    change
the percentage of the Commitments or of the aggregate unpaid principal amount of the Loans which is required for the
Banks or any of them to take any action hereunder; 

                (e)    amend
this Section, or Section 2.14, or any provision herein providing for consent or other action by all Banks; or

                (f)    except
pursuant to a transaction permitted under Section 7.02 and Section 7.03, release any Guarantor from its obligations
under the Guaranty; 

and, provided further, that (i) no amendment,
waiver or consent shall, unless in writing and signed by the Agent in addition to the Majority Banks or all the Banks,
as the case may be, affect the rights or duties of the Agent under this Agreement or any other Loan Document,
(ii) any fee letter may be amended, or rights or privileges thereunder waived, in a writing executed by the parties
thereto, and (iii) no amendments, consents or waivers are required to effectuate the increases in Commitments
pursuant to Section 2.07(b), the extension of the Revolving Termination Date pursuant to Section 2.09 or the
conversion of Loans to a term loan pursuant to Section 2.01(b), except as provided in such Sections. 

        10.02    Notices.  

                (a)    All
notices, requests and other communications shall be in writing (including, unless the context expressly otherwise
provides, by facsimile transmission, provided that any matter transmitted by facsimile (i) shall be immediately
confirmed by a telephone call to the recipient at the number specified on Schedule 10.02, and
(ii) shall be followed promptly by delivery of a hard copy original thereof) and mailed, faxed or delivered, to the
address or facsimile number specified for notices on Schedule 10.02; or, as directed to the Company or the
Agent, to such other address as shall be designated by such party in a written notice to the other parties, and as
directed to any other party, at such other address as shall be designated by such party in a written notice to the
Company and the Agent. 

                (b)    All
such notices, requests and communications shall, when transmitted by overnight delivery, or faxed, be effective when
delivered for overnight (next-day) delivery, or transmitted in legible form by facsimile machine, respectively, or if
mailed, upon the fifth Business Day after the date deposited into the U.S. mail, or if delivered, upon delivery; except
that notices pursuant to Article II or IX shall not be effective until actually received by the Agent. 

                (c)    Any
agreement of the Agent and the Banks herein to receive certain notices by telephone or facsimile is solely for the
convenience and at the request of the Company. The Agent and the Banks shall be entitled to rely on the authority of any
Person 

58. 

purporting to be a Person authorized by the Company to give such
notice and, absent gross negligence or willful misconduct, the Agent and the Banks shall not have any liability to the
Company or other Person on account of any action taken or not taken by the Agent or the Banks in reliance upon such
telephonic or facsimile notice. The obligation of the Company to repay the Loans shall not be affected in any way or to
any extent by any failure by the Agent and the Banks to receive written confirmation of any telephonic or facsimile
notice or the receipt by the Agent and the Banks of a confirmation which is at variance with the terms understood by the
Agent and the Banks to be contained in the telephonic or facsimile notice. 

        10.03    No
Waiver; Cumulative Remedies.   No failure to exercise and no delay in exercising, on the part of the
Agent or any Bank, any right, remedy, power or privilege hereunder, shall operate as a waiver thereof; nor shall any
single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise
thereof or the exercise of any other right, remedy, power or privilege. 

        10.04    Costs
and Expenses.   The Company shall:  

                (a)    pay
or reimburse the Agent within five Business Days after demand for all reasonable costs and expenses incurred by the
Agent in connection with the development, preparation, documentation negotiation, syndication, distribution,
administration and closing of this Agreement and the Loan Documents and any other documents prepared in connection
therewith (whether or not closing occurs), and the administration of, and any amendment, supplement, waiver or
modification to (in each case, whether or not consummated), this Agreement, any Loan Document and any such other
documents, including reasonable Attorney Costs incurred by the Agent with respect thereto; and 

                (b)    pay
or reimburse the Agent, the Arrangers and each Bank within five Business Days after demand for all reasonable costs and
expenses (including Attorney Costs) incurred by them in connection with the enforcement, attempted enforcement, or
preservation of any rights or remedies under this Agreement or any other Loan Document during the existence of an Event
of Default or after acceleration of the Loans (including in connection with any “workout” or restructuring
regarding the Loans, and including in any Insolvency Proceeding or appellate proceeding). 

        10.05    Indemnity.   Whether
or not the transactions contemplated hereby are consummated, the Company shall indemnify and hold the Agent-Related
Persons, and each Bank and each of its respective officers, directors, employees, counsel, agents and attorneys-in-fact
(each, an “Indemnified Person”) harmless from and against any and all liabilities, obligations, losses,
damages, penalties, actions, judgments, suits, costs, charges, fines, expenses and disbursements (including reasonable
Attorney Costs) of any kind or nature whatsoever which may at any time (including at any time following repayment of the
Loans and the termination, resignation or replacement of the Agent or replacement of any Bank) result from an action,
suit, proceeding or claim asserted against any such Indemnified Person by any Person not entitled to indemnification
under this section in any way relating to or arising out of this Agreement or any document contemplated by or referred
to herein or any act or omission of the Borrower contrary to the representations made in Section 5.21, or the
transactions contemplated hereby, or any action taken or omitted by any such Person under or in connection with any of
the foregoing, including with respect to any investigation, litigation or proceeding (including any Insolvency 

59. 

Proceeding or appellate proceeding) related to or arising out of
this Agreement or the Loans or the use of the proceeds thereof, whether or not any Indemnified Person is a party thereto
(all the foregoing, collectively, the “Indemnified Liabilities”); provided, however, that
the Company shall not be liable to any Indemnified Person for any portion of such Indemnified Liabilities resulting from
such Indemnified Person’s gross negligence or willful misconduct. In the event this indemnity is unenforceable as a
matter of law as to a particular matter or consequence referred to herein, it shall be enforceable to the full extent
permitted by law. Promptly upon receipt of notice of the making of any claim or the initiation of any action, suit, or
proceeding (together, “Dispute”), the Indemnified Person shall, if a claim in respect thereof is to be
made against the Company hereunder, notify the Company in writing thereof, provided that any failure to provide
such notice shall not excuse the Company from its obligations under this Section, except to the extent that such failure
to notify shall have materially prejudiced the Company’s position. The Company shall have the right at its expense
to control the defense of any Dispute, provided the Company has delivered prompt notice to the Indemnified Person
expressly agreeing to assume the defense thereof and reaffirming its obligation to indemnify and hold harmless
hereunder, with nationally-recognized counsel selected by the Company, but reasonably satisfactory to the Indemnified
Person. In such event, the Company shall promptly notify the Indemnified Person of any and all material developments in
such Dispute and the Company shall not agree to any settlement or material stipulation in such Dispute without the prior
written consent of the Indemnified Person (such consent not to be unreasonably withheld). Notwithstanding the foregoing,
if in the reasonable judgment of the Indemnified Person, there may exist bona fide legal defenses available to it
relating to the Dispute which conflict with those of the Company or another Indemnified Person, such Indemnified Person
shall have the right to select separate counsel, at the expense of the Company, to assert such legal defenses and
otherwise participate in the legal defense of such Dispute on behalf of such Indemnified Person. Notwithstanding the
foregoing, no Dispute subject to this paragraph shall be settled without the Company’s prior consent, not to be
unreasonably withheld; provided, however, that any Indemnified Person may settle any such Dispute without the
Company’s consent if (a) the market reputation of Bank One or its Affiliates, or any Bank or its Affiliates
which becomes an Indemnified Person under this Section 10.05, or the relationship of any of such Persons with their
applicable state or federal regulators, in the judgment of such Persons, is being or foreseeably will be materially
impaired as a result of the continuation of such Dispute, or (b) such Dispute involves or relates to any allegation
of criminal wrongdoing, or (c) the Company is disputing its obligation to indemnify under this Section, or (d) the
Company has failed to respond to any request for such consent within 10 days of its receipt of written notice of such
proposed settlement. No Indemnified Person shall have any liability to the Company or any of its Affiliates for any
indirect or consequential damages in connection with its activities related to this Agreement. The agreements in this
Section shall survive payment of all other Obligations and the termination of the Commitments. 

        10.06    Payments
Set Aside.   To the extent that the Company makes a payment to the Agent or the Banks, or the Agent
or the Banks exercise their right of set-off, and such payment or the proceeds of such set-off or any part thereof are
subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any
settlement entered into by the Agent or such Bank in its discretion) to be repaid to a trustee, receiver or any other
party, in connection with any Insolvency Proceeding or otherwise, then (a) to the extent of such recovery the obligation
or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such
payment had not been made or such set-off had not 

60. 

occurred, and (b) each Bank severally agrees to pay to the Agent
upon demand its pro rata share or other applicable share of any amount so recovered from or repaid by the Agent.

        10.07    Successors
and Assigns.   The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns, except that the Company may not assign or transfer any of
its rights or obligations under this Agreement without the prior written consent of the Agent and each Bank and no Bank
shall assign any of its rights or obligations hereunder except in accordance with Section 10.08. 

        10.08    Assignments, Participations, etc.  

                (a)    Any
Bank may, with the written consent of the Company at all times other than during the existence of an Event of Default
and the Agent, which consents shall not be unreasonably withheld or delayed, at any time assign and delegate to one or
more Eligible Assignees (provided that no written consent of the Company or the Agent shall be required in connection
with any assignment and delegation by a Bank to an Eligible Assignee that is an Affiliate of such Bank) (each an
“Assignee”) all, or any ratable part of all, of the Loans, the Commitment and the other rights and
obligations of such Bank hereunder, in a minimum amount of $5,000,000 (or such lesser amount as the Company and the
Agent may consent); provided, however, that the Company and the Agent may continue to deal solely and
directly with such Bank in connection with the interest so assigned to an Assignee until (i) written notice of such
assignment, together with payment instructions, addresses and related information with respect to the Assignee, shall
have been given to the Company and the Agent by such Bank and the Assignee; (ii) such Bank and its Assignee shall
have delivered to the Company and the Agent an Assignment and Acceptance in the form of Exhibit I
(“Assignment and Acceptance”) and (iii) the assignor Bank or Assignee has paid to the Agent a
processing fee in the amount of $3,500, provided that in the case of a transfer under Section 3.08, the
assignor Bank shall not be obligated to pay such processing fee. 

                (b)    From
and after the date that the Agent notifies the Company and the assignor Bank that it has received an executed Assignment
and Acceptance which has been consented to by the Agent and by the Company (if required), and payment of the
above-referenced processing fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights
and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall have the rights and
obligations of a Bank under the Loan Documents, and (ii) the assignor Bank shall, to the extent that rights and
obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and
Acceptance, relinquish its rights and be released from its obligations under the Loan Documents. 

                (c)    Within
five Business Days after its receipt of notice by the Agent that it has received an executed Assignment and Acceptance
and payment of the processing fee (and provided that the Agent and the Company consent to such assignment in accordance
with subsection 10.08(a), to the extent required), the Company shall, if requested, execute and deliver to the
Agent Notes for the Assignee (if the Assignee was not previously a Bank under this Agreement) and, if the assignor Bank
is not retaining any interest in this Agreement such assignor Bank shall promptly cancel and return its Notes to the
Agent for return to the Company. Immediately upon each Assignee’s making its processing fee payment under the
Assignment and Acceptance, this Agreement shall be deemed to be amended to the extent, but only to the extent,

61. 

necessary to reflect the addition of the Assignee and the resulting
adjustment of the Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments
of the assigning Bank pro tanto.  

                (d)    Any
Bank may, with the written consent of the Company at all times other than during the existence of an Event of Default,
which consent shall not be unreasonably withheld, at any time sell to one or more Eligible Assignees (a
“Participant”) participating interests in any Loans, the Commitment of that Bank and the other
interests of that Bank (the “originating Bank”) hereunder and under the other Loan Documents; provided,
however, that (i) the originating Bank’s obligations under this Agreement shall remain unchanged,
(ii) the originating Bank shall remain solely responsible for the performance of such obligations, (iii) the
Company and the Agent shall continue to deal solely and directly with the originating Bank in connection with the
originating Bank’s rights and obligations under this Agreement and the other Loan Documents, (iv) no Bank
shall transfer or grant any participating interes t under which the Participant has rights to approve any amendment to,
or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such
amendment, consent or waiver would require unanimous consent of the Banks as described in the first proviso to
Section 10.01 and (v) with respect to the sale of participating interests in any Bid Loans to any Participant, (x)
the Company’s consent shall not be required and (y) the Participant need not be an Eligible Assignee. In the case
of any such participation, the Participant shall not have any rights under this Agreement, or any of the other Loan
Documents, and all amounts payable by the Company hereunder shall be determined as if such Bank had not sold such
participation. 

                (e)    Each
Bank agrees to take normal and reasonable precautions and exercise due care to maintain the confidentiality of all
information identified as “confidential” or “secret” by the Company and provided to it by the
Company or any Subsidiary, or by the Agent on such Company’s or Subsidiary’s behalf, under this Agreement or
any other Loan Document, and neither it nor any of its Affiliates shall disseminate such information except on a
“need to know” basis to employees of such Bank or Affiliate, as the case may be, and their respective
representatives or use any such information other than in connection with or in enforcement of this Agreement and the
other Loan Documents; except to the extent such information (i) was or becomes generally available to the public
other than as a result of disclosure by the Bank, or (ii) was or becomes available on a non-confidential basis from
a source other than the Company, provided that such source is not bound by a confidentiality agreement with the Company
known to the Bank; provided, however, that any Bank may disclose such information (A) at the request
or pursuant to any requirement of any Governmental Authority to which the Bank is subject or in connection with an
examination of such Bank by any such authority; (B) pursuant to subpoena or other court process (provided
that such Bank shall promptly notify the Company of any such subpoena or process, unless it is legally prohibited from
doing so, and cooperate with the Company at the Company’s expense in obtaining a suitable order protecting the
confidentiality of such information); (C) when required to do so in accordance with the provisions of any
applicable Requirement of Law; (D) to the extent reasonably required in connection with any litigation or
proceeding to which the Agent, any Bank or their respective Affiliates may be party provided that such Bank will
promptly notify the Company of any such disclosure and use reasonable efforts at the Company’s expense to obtain a
suitable order protecting the confidentiality of such information; (E) to the extent reasonably required in
connection with the exercise of any remedy hereunder or under any other Loan Document; (F) to such Bank’s
independent auditors and other professional advisors; and (G) to any Affiliate of such Bank, or 

62. 

to any Participant or Assignee, actual or (provided that there
exists no Event of Default, with the written consent of the Company,) potential, provided that such Affiliate,
Participant or Assignee agrees in writing to keep such information confidential to the same extent required of the Banks
hereunder. Notwithstanding anything to the contrary set forth herein or in any other agreement to which the parties
hereto are parties or by which they are bound, the obligations of confidentiality contained herein and therein (the
“Confidentiality Obligations”), as they relate to the transactions contemplated by this Agreement, shall not
apply to the “tax structure” or “tax treatment” of the transactions contemplated by this Agreement
(as these terms are used in Section 1.6011-4(b)(3) (or any successor provision) of the Treasury Regulations (the
“Confidentiality Regulation”) promulgated under Section 6011 of the Internal Revenue Code of 1986, as
amended); and each party hereto (and any employee, representative, or agent of any party hereto) may disclose to any and
all persons, without limitation of any kind, the “tax structure” and “tax treatment” of the
transactions contemplated by this Agreement (as these terms are defined in the Confidentiality Regulation). In addition,
each party hereto acknowledges that it has no proprietary or exclusive rights to any tax matter or tax idea related to
the transactions contemplated by this Agreement. 

                (f)    Notwithstanding
any other provision in this Agreement, without consent of the Company, any Bank may at any time create a security
interest in, or pledge, all or any portion of its rights under and interest in this Agreement and any Note held by it
(i) in favor of any Federal Reserve Bank in accordance with Regulation A of the FRB or U.S. Treasury
Regulation 31 CFR §203.14, and such Federal Reserve Bank may enforce such pledge or security interest in any
manner permitted under applicable law, and (ii) to any direct or indirect counterparties in credit derivative
transactions relating to the Loans for the purpose of the physical settlement of such transaction. If requested by any
such Bank for purposes of this subsection 10.08(f), the Company shall execute and deliver Notes to such Bank.

        10.09    Set-off.   In
addition to any rights and remedies of the Banks provided by law, if an Event of Default exists, each Bank is authorized
at any time and from time to time, without prior notice to the Company, any such notice being waived by the Company to
the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand,
provisional or final) at any time held by, and other indebtedness at any time owing by, such Bank to or for the credit
or the account of the Company against any and all Obligations owing to such Bank, now or hereafter existing,
irrespective of whether or not the Agent or such Bank shall have made demand under this Agreement or any Loan Document
and although such Obligations may be contingent or unmatured. In the event of any inconsistency between this section and
any agreement governing deposits maintained by the Company with any Bank, this Section shall control with respect
to set-offs affecting this Agreement. Each Bank agrees promptly to notify the Company and the Agent after any such
set-off and application made by such Bank; provided, however, that the failure to give such notice shall
not affect the validity of such set-off and application. 

        10.10    Notification
of Addresses, Lending Offices, Etc.   Each Bank shall notify the Agent in writing of any changes in
the address to which notices to the Bank should be directed, of addresses of any Lending Office, of payment instructions
in respect of all payments to be made to it hereunder and of such other administrative information as the Agent shall
reasonably request. 

63. 

        10.11    Counterparts.   This
Agreement may be executed in any number of separate counterparts, each of which, when so executed, shall be deemed an
original, and all of said counterparts taken together shall be deemed to constitute but one and the same instrument.

        10.12    Severability.   The
illegality or unenforceability of any provision of this Agreement or any instrument or agreement required hereunder
shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Agreement or
any instrument or agreement required hereunder. 

        10.13    No
Third Parties Benefited.   This Agreement is made and entered into for the sole protection and legal
benefit of the Company, the Banks, the Agent and the Agent-Related Persons, and their permitted successors and assigns,
and no other Person shall be a direct or indirect legal beneficiary of, or have any direct or indirect cause of action
or claim in connection with, this Agreement or any of the other Loan Documents. 

        10.14    Governing Law and Jurisdiction.  

                (a)    THIS
AGREEMENT (AND THE NOTES) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK;
PROVIDED THAT THE AGENT AND THE BANKS SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL LAW. 

                (b)    ANY
LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE
STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK AND BY EXECUTION AND DELIVERY OF THIS
AGREEMENT, EACH OF THE COMPANY, THE AGENT AND THE BANKS CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE
NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH OF THE COMPANY, THE AGENT AND THE BANKS IRREVOCABLY WAIVES ANY
OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH
IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS
AGREEMENT OR ANY DOCUMENT RELATED HERETO. 

        10.15    Waiver
of Jury Trial.   THE COMPANY, THE BANKS AND THE AGENT EACH WAIVE THEIR RESPECTIVE RIGHTS TO A TRIAL
BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT, THE OTHER LOAN
DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE
BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR ANY AGENT-RELATED PERSON, PARTICIPANT OR ASSIGNEE, WHETHER WITH
RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. THE COMPANY, THE BANKS AND THE AGENT EACH AGREE THAT ANY SUCH
CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, THE PARTIES
FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION,
COUNTERCLAIM OR OTHER PROCEEDING 

64. 

WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR
ENFORCEABILITY OF THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS OR ANY PROVISION HEREOF OR THEREOF. THIS WAIVER SHALL APPLY
TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS.

        10.16    Entire
Agreement.   This Agreement, together with the other Loan Documents, embodies the entire agreement
and understanding among the Company, the Banks and the Agent, and supersedes all prior or contemporaneous agreements and
understandings of such Persons, verbal or written, relating to the subject matter hereof and thereof. Each Loan Document
was drafted with the joint participation of the respective parties thereto and shall be construed neither against nor in
favor of any party, but rather in accordance with the fair meaning thereof. 

        10.17    USA
PATRIOT ACT NOTIFICATION.   The following notification is provided to the Company pursuant to Section
326 of the USA PATRIOT Act of 2001, 31 U.S.C. Section 5318:  

        IMPORTANT
INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help the government fight the funding of terrorism and money
laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that
identifies each person or entity that opens an account, including any deposit account, treasury management account,
loan, other extension of credit, or other financial services product. What this means for the Company: When Company
opens an account, the Agent and the Banks will ask for Company’s name, tax identification number, business address,
and other information that will allow the Agent and the Banks to identify the Company. 

ARTICLE XI  

TERMINATION OF EXISTING 364-DAY CREDIT AGREEMENT  

        The Company, the
Banks and the Agent agree that upon (i) the execution and delivery of this Agreement by each of the parties hereto
and (ii) satisfaction (or waiver by the aforementioned parties) of the conditions precedent set forth in
Section 4.01, the “Commitments” (as defined in the Existing 364-Day Credit Agreement) shall be reduced to
zero and terminated permanently as of the date immediately preceding the Closing Date of this Agreement. All facility
fees and related fees payable pursuant to the Existing 364-Day Credit Agreement shall be due and payable on the
effective date of the termination of such agreement, which date shall be concurrent with the Closing Date of this
Agreement. 

65. 

        IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed and delivered by their proper and duly authorized
officers as of the day and year first above written. 

	 	 	 	 	 	 
	 	 	DELUXE CORPORATION 
	

   		

By: 	 	

/s/   Raj Agrawal 	 
	 	

	   		Name:  	 	Raj Agrawal 	 
	   		Title:  	 	Vice President and Treasurer 	 
	

   		

Federal Employer Identification Number:
	
   		
41-0216880 
	 	

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	 	 	 	 
	 	 	BANK ONE, NA (MAIN OFFICE CHICAGO),
individually and as Agent 
	

   		

By: 	 	

/s/   Ronald Edwards	
	 	

	   		Name:  	 	Ronald Edwards 	 
	   		Title:   	 	Director/Senior Underwriter 	 

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	 	 	 	 
	 	 	CREDIT SUISSE FIRST BOSTON, ACTING 
THROUGH ITS CAYMAN ISLANDS BRANCH, 
individually and as Syndication Agent 
	

   		

By: 	 	

/s/   Jay Chall 	
	 	

	   		Name:  	 	Jay Chall 	 
	   		Title:   	 	Director 	 
	

   		

By: 	 	

/s/   Rianka Mohan 	
	 	

	   		Name:  	 	Rianka Mohan 	 
	   		Title:   	 	Associate 	 

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK, individually and as Co-Documentation Agent 
	

   		

By: 	 	

/s/   John-Paul Marotta 	
	 	

	   		Name:  	 	John-Paul Marotta 	 
	   		Title:   	 	Vice President 	 

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	 	 	 	 
	 	 	THE BANK OF TOKYO-MITSUBISHI, LTD., 
CHICAGO BRANCH, individually and as 
Co-Documentation Agent 
	

   		

By: 	 	

/s/   Patrick McCue 	
	 	

	   		Name:  	 	Patrick McCue 	 
	   		Title:   	 	Vice President and Manager 	 

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION, 
individually and as Co-Documentation Agent  
	

   		

By: 	 	

/s/   Kirsten Carver 	
	 	

	   		Name:  	 	Kirsten Carver 	 
	   		Title:   	 	Associate 	 

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	 	 	 	 
	 	 	THE NORTHERN TRUST COMPANY  
	

   		

By: 	 	

/s/   David C. Fisher 	
	 	

	   		Name:  	 	David C. Fisher 	 
	   		Title:   	 	Vice President 	 

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	 	 	 	 
	 	 	NATIONAL CITY BANK 
	

   		

By: 	 	

/s/   Laura J. Rowley 	
	 	

	   		Name:  	 	Laura J. Rowley 	 
	   		Title:   	 	Vice President 	 

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION 
	

   		

By: 	 	

/s/   Mark H. Halldorson 	
	 	

	   		Name:  	 	Mark H. Halldorson 	 
	   		Title:   	 	Vice President 	 
	

   		

By: 	 	

/s/   Jennifer D. Barrett 	
	 	

	   		Name:  	 	Jennifer D. Barrett 	 
	   		Title:   	 	 Vice President & Loan Team Manager 	 

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	BNP PARIBAS 
	

   		

By: 	 	

/s/   Peter C. Labrie 	
	 	

	   		Name:  	 	Peter C. Labrie 	 
	   		Title:   	 	Central Region Manager 	 
	

   		

By: 	 	

/s/   Christine L. Howard 	
	 	

	   		Name:  	 	Christine L. Howard 	 
	   		Title:   	 	 Director 	 

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	FIFTH THIRD BANK 
	

   		

By: 	 	

/s/   David C. Melin 	
	 	

	   		Name:  	 	David C. Melin 	 
	   		Title:   	 	Vice President 	 

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

	 	 	U.S. BANK NATIONAL ASSOCIATION  
	

   		

By: 	 	

/s/   Christopher W. Rupp 	
	 	

	   		Name:  	 	Christopher W. Rupp 	 
	   		Title:   	 	Assistant Vice President 	 

SIGNATURE PAGE TO 364-DAY REVOLVING CREDIT AGREEMENT DATED JULY 2004 

  

ANNEX I  

PRICING GRID  

	

	364-Day Revolving Credit
Pricing Grid
	

	Status	Level I	Level II	Level III	Level IV	Level V
	

	Applicable Facility Fee Rate	 	 	 	0.070	%	 	0.080	%	 	0.100	%	 	0.150	%	 	0.200	%
	

	Applicable Utilization Fee Rate	 	 	 	0.100	%	 	0.100	%	 	0.125	%	 	0.150	%	 	0.250	%
	

	LIBO Rate Applicable Margin	 	 	 	0.230	%	 	0.320	%	 	0.400	%	 	0.450	%	 	0.550	%
	

	Base Rate Applicable Margin	 	 	 	0.000	%	 	0.000	%	 	0.000	%	 	0.000	%	 	0.000	%
	

	Term-Out Fee 	 	 	 	0.125	%	 	0.125	%	 	0.250	%	 	0.250	%	 	0.250	%
	

        Should the Company
exercise its option to convert any balance owing under this Agreement to a term loan in accordance with the terms of
Section 2.01(b), the Company will be required to pay a Term-Out Fee, which has the effect of increasing pricing on all
amounts outstanding under the term loan by the Term-Out Fee set forth at the applicable Status on the Pricing Grid
above. 

        For the purposes of
this Schedule, the following terms have the following meanings, subject to the final paragraph of this Schedule:

        “Level I
Status” exists at any date if, on such date, the Company’s Moody’s Rating is A2 or better or the
Company’s S&P Rating is A or better. 

        “Level II
Status” exists at any date if, on such date, (i) the Company has not qualified for Level I Status and (ii) the
Company’s Moody’s Rating is A3 or better or the Company’s S&P Rating is A- or better.

        “Level III
Status” exists at any date if, on such date, (i) the Company has not qualified for Level I Status or Level II
Status and (ii) the Company’s Moody’s Rating is Baa1 or better or the Company’s S&P Rating is
BBB+ or better. 

        “Level IV
Status” exists at any date if, on such date, (i) the Company has not qualified for Level I Status, Level II Status
or Level III Status and (ii) the Company’s Moody’s Rating is Baa2 or better or the Company’s
S&P Rating is BBB or better. 

        “Level V
Status” exists at any date if, on such date, the Company has not qualified for Level I Status, Level II Status,
Level III Status or Level IV Status. 

ANNEX I 

        “Moody’s
Rating” means, at any time, the rating issued by Moody’s Investors Service, Inc.
and then in effect with respect to the Company’s senior unsecured long-term debt
securities without third-party credit enhancement. 

      “Rating”
means Moody’s Rating or S&P Rating. 

        “S&P
Rating” means, at any time, the rating issued by Standard and Poor’s Rating
Services, a division of The McGraw-Hill Companies, Inc., and then in effect with respect
to the Company’s senior unsecured long-term debt securities without third-party
credit enhancement. 

        “Status”
means Level I Status, Level II Status, Level III Status, Level IV Status or Level V
Status. 

        The Applicable
Margins, the Applicable Facility Fee Rate, the Applicable Utilization Fee Rate and the applicable Term-Out Fee Rate
shall be determined in accordance with the foregoing table based on the Company’s Status as determined from its
then-current Moody’s or S&P Rating. If the Company is split-rated and the ratings differential is two levels or
more, the intermediate rating at the midpoint will apply. If there is no midpoint, the higher of the two intermediate
ratings will apply. The credit rating in effect on any date for the purposes of this Schedule is that in effect at the
close of business on such date. Unless Moody’s or S&P, as applicable, shall cease generally to issue public
ratings with respect to senior unsecured long-term debt securities without third-party credit enhancement (in which
event the Applicable Margins, the Applicable Facility Fee Rate, the Applicable Utilization Fee Rate and the applicable
Term-Out Fee Rate shall be determined in accordance with the foregoing table based on the Company’s Status as
determined from its then-current and available Moody’s or S&P Rating, as applicable), if the Company does not
have both a Moody’s Rating and an S&P Rating, Level V Status shall apply. 

ANNEX I 

SCHEDULE 2.01 

LIST OF COMMITMENTS AND PRO RATA SHARES 

	

	BANK	COMMITMENT	PRO RATA SHARE
	

	BANK ONE, NA	 	 	$	  12,153,846	 	 	12.154	%
	

	CREDIT SUISSE FIRST BOSTON	 	 	$	  12,153,846	 	 	12.154	%
	

	THE BANK OF NEW YORK	 	 	$	  11,384,615	 	 	11.385	%
	

	THE BANK OF TOKYO-MITSUBISHI, LTD	 	 	$	  11,384,615	 	 	11.385	%
	

	WACHOVIA BANK, NATIONAL ASSOCIATION	 	 	$	  11,384,615	 	 	11.385	%
	

	THE NORTHERN TRUST COMPANY	 	 	$	  7,076,923	 	 	7.077	%
	

	NATIONAL CITY BANK	 	 	$	  7,076,923	 	 	7.077	%
	

	WELLS FARGO BANK, NATIONAL ASSOCIATION	 	 	$	  7,076,923	 	 	7.077	%
	

	BNP PARIBAS	 	 	$	  7,076,923	 	 	7.077	%
	

	FIFTH THIRD BANK	 	 	$	  7,076,923	 	 	7.077	%
	

	U.S. BANK, NATIONAL ASSOCIATION	 	 	$	  6,153,846	 	 	6.152	%
	

	TOTAL 	 	 	$	 100,000,000	 	 	100	%
	

SCHEDULES 

SCHEDULE 5.05 

LITIGATION 

None. 

SCHEDULES 

SCHEDULE 5.07 

ERISA MATTERS 

None. 

SCHEDULES 

SCHEDULE 5.12 

ENVIRONMENTAL MATTERS 

None. 

SCHEDULES 

SCHEDULE 5.16 

LIST OF SUBSIDIARIES AND MATERIAL EQUITY INVESTMENTS 

	(a)  	  	Subsidiaries  

	Deluxe Financial Services, Inc.	(MN — 100%) 
	Designer Checks, Inc.	(AL — 100%) 
	Direct Checks Unlimited, LLC	(CO — 100%) 
	DLX Check Printers, Inc.	(MN — 100%) 
	DLX Check Texas, Inc.	(MN — 100%) 
	         Deluxe Financial Services Texas L.P.
	Paper Payment Services LLC	(MN — 100%) 
	Plaid Moon, Inc.	(MN — 100%) 
	PPS Holding Company, Inc.	(MN — 100%) 
	PPS Services 1, Inc.	(MN — 100%) 
	PPS Services 2, Inc.	(MN — 100%) 
	Accounting Forms Co., Inc.	(MA — 100%) 
	Chiswick, Inc.	(MA — 100%) 
	Mass Distribution, Inc.	(DE — 100%) 
	McBee Systems, Inc.	(CO — 100%) 
	New England Business Service, Inc.  	(DE — 100%) 
	NEBS Interactive, Inc.	(MA — 100%) 
	         NEBS Capital
	PremiumWear, Inc.	(DE — 100%) 
	Rapidforms, Inc.	(NJ — 100%) 
	Russell and Miller, Inc.	(DE — 100%) 
	Safeguard Business Systems, Inc.	(DE — 100%) 
	Stephen Fossler Company	(DE — 100%) 
	Veripack, Inc.	(DE — 100%) 
	NEBS Business Stationery Limited	(UK — 100%) 
	Shirlite Limited	(UK — 100%) 
	Sigma Afterprint Services Limited	(UK — 100%) 
	Standard Forms Limited	(UK — 100%) 
	Standard Forms Holdings Limited	(UK — 100%) 
	NEBS Business Products Limited	(ON — 100%) 
	NEBS Payroll Service Limited	(ON — 100%) 
	Safeguard Business Systems Limited  (ON — 100%)

	(b)  	  	Material Equity Investments  

	Deluxe Mexicana S.A. de C.V.	(Mexico — 50%) 

SCHEDULES 

SCHEDULE 7.01 

EXISTING LIENS 

None. 

SCHEDULES 

SCHEDULE 10.02 

OFFSHORE AND DOMESTIC LENDING OFFICES, ADDRESSES FOR NOTICES 

DELUXE CORPORATION 

Address for Notices 

3680 Victoria Street North
Shoreview, MN 55126 

Attention: Raj Agrawal, Vice President and Treasurer
Telephone: (651) 787-1068 

Facsimile: (651) 787-1566 

With a copy to: 

3680 Victoria Street North

Shoreview, MN 55126 

Attention: Anthony C. Scarfone, General Counsel
Telephone: (651) 483-7122

Facsimile: (651) 787-2749 

BANK ONE, NA as Agent 

Notices for Borrowing, Conversions/Continuations, and Payments 

Bank One, NA
One Bank One Plaza
Chicago, IL 60670

Attention: Erica Lowe

Telephone : (312) 732-6137

Facsimile: (312) 732-4303 

Address for Notices other than Borrowing: 

Bank One, NA 
111 E. Wisconsin Ave. 
Milwaukee, WI 53202 
Attention: Anthony Maggiore

Telephone: (414) 765-3111 
Facsimile: (414) 765-2625 

SCHEDULES 

EXHIBIT A 

FORM OF TRANSMITTAL LETTER/COMPLIANCE CERTIFICATE 

DELUXE CORPORATION 

Financial Statements Date: ______________ 

        Reference is made to that certain 364-Day Revolving
Credit Agreement dated as of July 22, 2004 (as extended, renewed, amended or restated from time to time, the
“Credit Agreement”), among Deluxe Corporation (the “Company”), the several financial
institutions from time to time party thereto (the “Banks”) and Bank One, NA, as Agent (in such
capacity, the “Agent”) and as an LC Issuer. Unless otherwise defined herein, capitalized terms used
herein have the respective meanings assigned to them in the Credit Agreement. 

[Use the following if this Transmittal Letter/Certificate is delivered in connection
 with the financial statements required by subsection 6.01(a) of the Credit Agreement.] 

Transmittal Letter 

        Pursuant to subsection 6.01(a) of the Credit
 Agreement, attached hereto are true copies of the audited consolidated balance sheet of the Company
 and its consolidated Subsidiaries as at the end of the fiscal year ended _______________ and the related
 consolidated statements of income or operations, shareholders’ equity and cash flows for such year,
 setting forth in each case in comparative form the figures for the previous fiscal year, accompanied
 by the opinion of the Independent Auditor, which report states that such consolidated financial statements
 present fairly, in all material respects, the financial position for the periods indicated in conformity
 with GAAP. 

Certificate 

        The undersigned hereby certifies that he/she
 is a Responsible Officer as defined in the Credit Agreement and hereby certifies as of the date hereof
 on behalf of the Company and its consolidated Subsidiaries that: 

	1. 	
No Default or Event of Default has occurred and is continuing, except as described in Attachment
 1 hereto. 

	2. 	
The computations set forth below are true and correct as of _________________, ____, the
 last day of the accounting period for which the aforesaid financial statements were prepared. 

	3. 	
If the financial statements of the Company being concurrently delivered were not prepared
 in accordance with GAAP, Attachment 2 hereto sets forth any derivations required to conform the relevant
 data in such financial statements to the computations set forth below. 

A-1 

	4. 	
There have been no changes in accounting policies or financial reporting practices of the
 Company or any of its Subsidiaries since the date of the last compliance certificate delivered to you,
 except as described in Attachment 3 hereto. 

        IN WITNESS WHEREOF, the undersigned has
 executed this Certificate on behalf of the Company (and not personally) as the ____________ of the Company
 as of ______________, _______. 

DELUXE CORPORATION

By:   _______________________________________________ 
Title:  
   ______________________________________________  

 

[Use the following paragraph if this Certificate is delivered in connection with the
 financial statements required by subsection 6.01(b) of the Credit Agreement.] 

Certificate 

        The undersigned hereby certifies
 that he/she is a Responsible Officer as defined in the Credit Agreement and hereby certifies as of the
 date hereof on behalf of the Company and its Consolidated Subsidiaries, and that: 

	1. 	
Pursuant to Section 6.01(b) of the Credit Agreement, attached hereto are true copies of
 the unaudited consolidated balance sheet of the Company and its consolidated Subsidiaries as of the
 end of the fiscal quarter ended _________ and the related consolidated statements of income and cash
 flows for the period commencing on the first day and ending on the last day of such quarter, which fairly
 present in all material respects and in accordance with GAAP (subject to ordinary, good faith year-end
 audit adjustments), the financial position and the results of operations of the Company and its consolidated
 Subsidiaries. 

	2. 	
No Default or Event of Default has occurred and is continuing, except as described in Attachment
 1 hereto. 

	3. 	
The computations set forth below are true and correct as of _________________, ____, the
 last day of the accounting period for which the aforesaid financial statements were prepared. 

	4. 	
If the financial statements of the Company being concurrently delivered were not prepared
 in accordance with GAAP, Attachment 2 hereto sets forth any derivations required to conform the relevant
 data in such financial statements to the computations set forth below. 

	5. 	
There have been no changes in accounting policies or financial reporting practices of the
 Company or any of its Subsidiaries since the date of the last compliance certificate delivered to you,
 except as described in Attachment 3 hereto. 

A-2 

        IN WITNESS WHEREOF, the undersigned has
 executed this Certificate on behalf of the Company (and not personally) as the ____________ of the Company
 as of ______________, _______. 

DELUXE CORPORATION

By:   _______________________________________________ 
Title:  
   ______________________________________________  

 

A-3  

SCHEDULE 1

to the Compliance Certificate

Dated _______________ / For the fiscal quarter ended ___________.

	 	 	 	Actual

	Required/Permitted

	I.  Section 7.10 – Interest Coverage

	 	 	 
	 	Ratio of Earnings Before Interest and Taxes to Interest Expense under Section 7.10

	 	            to 1.00
	Not less than 3.00 to 1.00 (measured as of the last day of any fiscal quarter)

	II.  Section 7.11 – Subsidiary Indebtedness

	 	 	 
	 	Aggregate Indebtedness of Company’s consolidated Subsidiaries

	 	___________	
Not greater than $50,000,000 
(measured as of the last day of 
any fiscal quarter)

1 

EXHIBIT B 

FORM OF NOTICE OF BORROWING 

Date: ______________ 

	To:  	  	Bank
One, NA
as Agent 

Ladies and Gentlemen: 

        The undersigned, Deluxe Corporation (the
“Company”), refers to the 364-Day Revolving Credit Agreement, dated as of July 22, 2004 (as extended,
renewed, amended or restated from time to time, the “Credit Agreement”), among the Company, the several
financial institutions from time to time party thereto (the “Banks”) and Bank One, NA, as Agent (the
“Agent”) and as an LC Issuer, the terms defined therein being used herein as therein defined, and
hereby gives you notice irrevocably, pursuant to Section 2.03 of the Credit Agreement, of the Committed Borrowing
specified below: 

	1. 	
The Business Day of the proposed Committed Borrowing is _______________. 

	2. 	
The aggregate amount of the proposed Committed Borrowing is $_____________________. 

	3. 	
The Committed Borrowing is to be comprised of $___________ of [Offshore Rate] [Base Rate]
 Committed Loans. 

	4. 	
[If applicable:] The duration of the Interest Period for the Offshore Rate Committed Loans
 included in the Committed Borrowing shall be _____ months. 

	5. 	
As of the date hereof, the current senior credit rating established or deemed established
 for the Company by Moody’s and S&P is _________ for Moody’s and _________ for S&P. 

        The undersigned hereby certifies that the
 following statements are true on the date hereof, and will be true on the date of the proposed Committed
 Borrowing, before and after giving effect thereto and to the application of the proceeds therefrom:
 

	1. 	
the representations and warranties of the Company contained in Article V of the Credit Agreement
 (excluding those contained in Section 5.11(b) of the Credit Agreement) are true and correct as though
 made on and as of such date, except to the extent such representations and warranties expressly refer
 to an earlier date, in which case they are true and correct as of such date; 

	2. 	
no Default or Event of Default has occurred and is continuing, or would result from such
 proposed Committed Borrowing; 

B-1. 

	3. 	  	after giving effect to the proposed Committed Borrowing the aggregate principal amount of
all outstanding Committed Loans plus the aggregate principal amount of all Bid Loans outstanding, does not exceed
the aggregate Commitments under the Credit Agreement. 

DELUXE CORPORATION 

By: ____________________ 
Title:  ____________________ 

B-2. 

EXHIBIT C 

FORM OF NOTICE OF CONVERSION/CONTINUATION 

Date: _______________ 

	To:  	  	Bank
One, NA
as Agent 

Ladies and Gentlemen: 

        The undersigned, Deluxe Corporation (the
“Company”), refers to the 364-Day Revolving Credit Agreement, dated as of July 22, 2004 (as extended,
renewed, amended or restated from time to time, the “Credit Agreement”), among the Company, the several
financial institutions from time to time party thereto (the “Banks”) and Bank One, NA, as Agent (the
“Agent”) and as an LC Issuer, the terms defined therein being used herein as therein defined, and
hereby gives you notice irrevocably, pursuant to Section 2.04 of the Credit Agreement, of the [conversion]
[continuation] of Committed Loans specified below: 

	1. 	
The Conversion/Continuation Date is ______________. 

	2. 	
The aggregate amount of the Committed Loans to be [converted] [continued] is $_______________.
 

	3. 	
The Committed Loans are to be [converted into] [continued as] [Offshore Rate] [Base Rate]
 Committed Loans. 

	4. 	
[If applicable:] The duration of the Interest Period for the Committed Loans included in
 the [conversion] [continuation] shall be ____ months. 

	5. 	
As of the date hereof, the current senior credit rating established or deemed established
 for the Company by Moody’s and S&P is _________ for Moody’s and _________ for S&P. 

        The undersigned hereby certifies that the
 following statements will be true on and as of the proposed Conversion/Continuation Date, before and
 after giving effect thereto and to the application of the proceeds therefrom: 

	1. 	
the representations and warranties of the Company contained in Article V of the Credit Agreement
 are true and correct as though made on and as of such date (except to the extent such representations
 and warranties relate to an earlier date, in which case they are true and correct as of such date; 

	2. 	
no Default or Event of Default exists or shall result from such proposed [conversion] [continuation];
 

	3. 	
after giving effect to the proposed [conversion][continuation], the Aggregate Outstanding
 Credit Exposure does not exceed the aggregate Commitments under the Credit Agreement. 

C-1. 

DELUXE CORPORATION 

By: ____________________ 
Title:  ____________________ 

 

C-2. 

EXHIBIT D 

FORM OF INVITATION FOR COMPETITIVE BIDS 

Via Facsimile  

Date: __________________ 

To the Banks Listed on Annex A Attached Hereto 

Ladies and Gentlemen: 

        Reference
is made to that certain 364-Day Revolving Credit Agreement dated as of July 22, 2004 (as
extended, renewed, amended or restated from time to time, the “Credit
Agreement”), among Deluxe Corporation (the “Company”), the Banks
party thereto and Bank One, NA, as Agent for the Banks (the “Agent”).
Capitalized terms used herein have the meanings specified in the Credit Agreement. 

        Pursuant to subsection 2.06(b) of the Credit Agreement,
you are hereby invited to submit offers to make Bid Loans to the Company based on the following specifications:

    1.        Date of Bid Borrowing: _______________; 

    2.        Aggregate amount of
 Bid Borrowing: $___________________; 

    3.        The Bid Loans shall be: [LIBOR Bid
Loans] [Absolute Rate Bid Loans]; and 

    4.        Interest Period[s] and requested
Interest Payment Dates, if any: [____________________], [________________] and [________________].
 

        All Competitive Bids shall be in the form of
Exhibit F to the Credit Agreement and shall be received by the Agent no later than 10:00 a.m. (Chicago time)
on ___________, _____; provided that terms of the offer or offers contained in any Competitive Bid(s) to be
submitted by the Agent (or any Affiliate of the Agent) shall be notified to the Company not later than 10:00 a.m.
(Chicago time) on _____________.1 

BANK ONE, NA, as Agent 

By: ______________________________ 
Title: ______________________________ 

 

_________________

1   Insert a date which is three Business Days prior to the date of Borrowing,  in the case of a
LIBOR Auction, or on the date of Borrowing, in the case of an Absolute Rate Auction.  

D-1 

ANNEX A 

to the Invitation for Competitive Bids 

List of Bid Loan Lenders 

[Bank One, NA, as a Bank] 

Facsimile: (415) 622-____ 

[Bank] 

Facsimile: (___) ___-____

[Bank] 

Facsimile: (___) ___-____

[Bank] 

Facsimile: (___) ___-____

[Bank] 

Facsimile: (___) ___-____

EXHIBIT E 

FORM OF COMPETITIVE BID REQUEST 

Date: _______________ 

	To:  	  	Bank
One, NA
as Agent 

Ladies and Gentlemen: 

        Reference is made
to the 364-Day Revolving Credit Agreement dated as of July 22, 2004 (as extended, renewed, amended or restated from time
to time, the “Credit Agreement”), among Deluxe Corporation (the “Company”), the Banks
party thereto, and Bank One, NA, as Agent for the Banks (the “Agent”). Capitalized terms used herein
have the meanings specified in the Credit Agreement. 

        This is a Competitive Bid Request for Bid
 Loans pursuant to Section 2.06(a) of the Credit Agreement as follows: 

The Business Day of the proposed Bid Borrowing is: ______________.

The aggregate amount
 of the proposed Bid Borrowing is: $___________________.

The proposed Bid Borrowing to be made pursuant to Section 2.06 shall be comprised of [LIBOR]
 [Absolute Rate] Bid Loans. 
The Interest Period[s] and Interest Payment Dates, if any, for the Bid Loans
 comprised in the Bid Borrowing shall be: _______________, [_________________] and [___________________].
 

DELUXE CORPORATION

By:
______________________________ 

Title: _____________________________  

E-1. 

EXHIBIT F 

FORM OF COMPETITIVE BID 

Date: _______________ 

	To:  	  	Bank
One, NA,
as Agent 

Ladies and Gentlemen: 

        Reference
is made to the 364-Day Revolving Credit Agreement dated as of July 22, 2004 (as extended,
renewed, amended or restated from time to time, the “Credit Agreement”),
among Deluxe Corporation (the “Company”), the Banks party thereto, and
Bank One, NA, as Agent for the Banks (the “Agent”). Capitalized terms
used herein have the meanings specified in the Credit Agreement. 

        In response to the Invitation for Competitive Bids dated
___________ and in accordance with subsection 2.06(c)(ii) of the Credit Agreement, the undersigned Bank offers to
make [a] Bid Loan[s] thereunder in the following principal amounts[s], at the following interest rates and for the
following Interest Period[s], with Interest Payment Dates as specified by the Company: 

Date of Bid Borrowing: _____________________ 

Aggregate Maximum Bid Amount: $________________ 

Offer 1 (Maximum Bid Amount:
$________________)      Interest Period: ________________  

	Principal Amount $_________	Principal Amount $_________	Principal Amount $_________
	 
	Interest:	Interest:	Interest:
	 
	[Absolute Rate __%]*	[Absolute Rate __%]*	[Absolute Rate __%]*
	 
	or	or	or
	 
	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*

_________________
* Interest rate may be quoted to five decimal places. 

F-1. 

Offer 2 (Maximum Bid Amount:
$________________)      Interest Period: ________________  

	Principal Amount $_________	Principal Amount $_________	Principal Amount $_________
	 
	Interest:	Interest:	Interest:
	 
	[Absolute Rate __%]*	[Absolute Rate __%]*	[Absolute Rate __%]*
	 
	or	or	or
	 
	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*

Offer 3 (Maximum Bid Amount:
$________________)      Interest Period: ________________  

	Principal Amount $_________	Principal Amount $_________	Principal Amount $_________
	 
	Interest:	Interest:	Interest:
	 
	[Absolute Rate __%]*	[Absolute Rate __%]*	[Absolute Rate __%]*
	 
	or	or	or
	 
	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*	[LIBOR Bid Margin +/-___%]*

[NAME OF BANK]

By:
______________________________ 

Title: _____________________________  

_________________
* Interest rate may be quoted to five decimal places. 

F-2. 

EXHIBIT G-1 

FORM OF COMMITTED LOAN NOTE 

[DATE] 

        FOR VALUE RECEIVED,
the undersigned, Deluxe Corporation, a Minnesota corporation (the “Company”), hereby promises to pay to
the order of ______________________ (the “Bank”) at the offices of Bank One, NA, as Administrative
Agent for the Banks (the “Agent”) the aggregate unpaid principal amount of all Committed Loans made by
the Bank to the Company pursuant to the 364-Day Revolving Credit Agreement, dated as of July 22, 2004 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the
Company, the Bank, the other financial institutions from time to time party thereto (the “Banks”) and
the Agent, on the dates and in the amounts provided in the Credit Agreement. The Company further promises to pay
interest on the unpaid principal amount of the Committed Loans evidenced hereby from time to time at the rates and on
the dates as provided in the Credit Agreement. 

        As provided in the
Credit Agreement, the Bank is authorized to endorse the amount of and the date on which each Committed Loan is made, the
maturity date therefor and each payment of principal with respect thereto on the schedules annexed hereto and made a
part hereof, or on continuations of such schedules which shall be attached hereto and made a part hereof;
provided that any failure to endorse such information on such schedule or
continuation thereof shall not in any manner affect any obligation of the Company under
the Credit Agreement and this Promissory Note (this “Note”). 

        This Note is one of the Committed Loan Notes referred to
in, and is entitled to the benefits of, the Credit Agreement, which Credit Agreement, among other things, contains
provisions for acceleration of the maturity hereof upon the happening of certain stated events. 

        Terms defined in the Credit Agreement are used herein
with their defined meanings therein unless otherwise defined herein. 

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

DELUXE CORPORATION 

By:
______________________________ 
 
Title: _____________________________ 
          Address: 

          
3680 Victoria Street North 

          
Shoreview, Minnesota 55126-2966  

G-1. 

SCHEDULE 
to Committed Loan Note 
[Offshore Rate Committed Loans] 

	

	Date Loan 	  	  	  	Date Principal 
	Disbursed 	Amount of Loan 	Maturity Date 	Principal Payment 	Paid 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

G-2. 

SCHEDULE 
to Committed Loan Note 
[Base Rate Committed Loans] 

	

	Date Loan 	  	  	  	Date Principal 
	Disbursed 	Amount of Loan 	Maturity Date 	Principal Payment 	Paid 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

G-3. 

EXHIBIT G-2 

FORM OF BID LOAN NOTE 

[DATE] 

        FOR VALUE RECEIVED,
the undersigned, Deluxe Corporation, a Minnesota corporation (the “Company”), hereby promises to pay to
the order of ______________________ (the “Bank”) at the offices of Bank One, NA, as Administrative
Agent for the Banks (the “Agent”) the aggregate unpaid principal amount of all Bid Loans made by the Bank to
the Company pursuant to the 364-Day Revolving Credit Agreement, dated as of July 22, 2004 (as amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Company, the
Bank, the other financial institutions from time to time party thereto (the “Banks”) and the Agent, on
the dates and in the amounts provided in the Credit Agreement. The Company further promises to pay interest on the
unpaid principal amount of the Bid Loans evidenced hereby from time to time at the rates and on the dates as provided in
the Credit Agreement. 

        As provided in the
Credit Agreement, the Bank is authorized to endorse the amount of and the date on which each Bid Loan is made, the
maturity date therefor and each payment of principal with respect thereto on the schedules annexed hereto and made a
part hereof, or on continuations of such schedules which shall be attached hereto and made a part hereof;
provided that any failure to endorse such information on such schedule or
continuation thereof shall not in any manner affect any obligation of the Company under
the Credit Agreement and this Promissory Note (this “Note”). 

        This Note is one of the Bid Loan Notes referred to in,
and is entitled to the benefits of, the Credit Agreement, which Credit Agreement, among other things, contains
provisions for acceleration of the maturity hereof upon the happening of certain stated events. 

        Terms defined in the Credit Agreement are used herein
with their defined meanings therein unless otherwise defined herein. 

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

DELUXE CORPORATION 

By:
______________________________ 
Title: _____________________________ 
          Address: 

          
3680 Victoria Street North 

          
Shoreview, Minnesota 55126-2966  

G-1. 

SCHEDULE 
to Bid Loan Note 
[Absolute Rate Bid Loans] 

	

	Date Loan 	  	  	  	Date Principal 
	Disbursed 	Amount of Loan 	Maturity Date 	Principal Payment 	Paid 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

G-2. 

SCHEDULE 
to Bid Loan Note 
[LIBOR Bid Loans] 

	

	Date Loan 	  	  	  	Date Principal 
	Disbursed 	Amount of Loan 	Maturity Date 	Principal Payment 	Paid 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

	 
	

G-3. 

EXHIBIT H 

FORM OF OPINION OF ANTHONY C. SCARFONE,
GENERAL COUNSEL TO THE COMPANY 

        Each of the following opinions will address,
 as applicable, matters related to Deluxe Corporation (the “Borrower”) and New England Business Service,
 Inc. (the “Initial Guarantor”, and together with the Borrower, the “Companies”): 

    1.        The Borrower and each
 of its Material Subsidiaries, is a corporation duly organized, validly existing and in good standing
 under the laws of the jurisdiction of its incorporation and is duly qualified to conduct business under
 the laws of each jurisdiction where its ownership, lease or operation of property or the conduct of
 its business requires such qualification, except to the extent that failure to do so would not reasonably
 be expected to have a Material Adverse Effect (as defined in the Agreement). Each of the Companies has
 the requisite corporate power to execute, deliver and perform its obligations under the Loan Documents
 to which it is a party. 

    2.        The execution, delivery
 and performance by each of the Companies of the Loan Documents to which it is a party have been duly
 authorized by all requisite corporate action. The Loan Documents have been duly executed and delivered
 by each of the Companies parties thereto and constitute the valid and binding obligations of each Company
 party thereto, enforceable against each such Company in accordance with their respective terms. 

    3.        The execution and delivery
 by each of the Companies of the Loan Documents to which it is a party, and the performance by the Companies
 of their respective obligations thereunder do not and will not (a) violate any provision of law,
 statute, rule or regulation or any order, writ, judgment, injunction, decree, determination or award
 of any court, governmental agency or arbitrator presently in effect having applicability to the applicable
 Company, (b) violate or be in conflict with any provision of the Amended Articles of Incorporation
 or By-laws (as amended) of the applicable Company, (c) result in breach or constitute a default
 under any indenture, loan or credit agreement or any other material agreement, lease or instrument known
 to me to which such Company is a party or by which it or any of its properties may be bound or result
 in the creation of a Lien thereunder. 

    4.        No order, consent,
 approval, license, authorization or validation of, or filing, recording or registration with, or exemption
 by, any governmental or public body or authority is required on the part of any Company to authorize,
 or is required in connection with the due execution, delivery and performance of, or the legality, validity
 or binding effect or enforceability of, the Loan Documents. 

    5.        Except as disclosed
 on Schedule 5.05 of the Agreement, there are no actions, suits or proceedings pending or, to the best
 of my knowledge, overtly threatened against or affecting any Company or any of its respective properties
 before any court or arbitrator, or any governmental department, board, agency or other instrumentality
 which (i) challenge the legality, validity or enforceability of the Loan Documents, or (ii) would reasonably
 be expected to have a Material Adverse Effect. 

H-1 

    6.        Neither of the Companies
 is an “investment company” or a company “controlled” by an “investment company” within the meaning of
 the Investment Company Act of 1940, as amended. 

    7.        There is no litigation
 pending or, to the best of my knowledge, threatened, alleging that any slogan or other advertising device,
 product, process, method, substance, part or other material now employed by the Borrower or any Subsidiary
 infringes upon any rights of any other Person which would reasonably be expected to have a Material
 Adverse Effect. 

    8.        The making of the Loans
 contemplated by the Agreement, and the use of the proceeds thereof as provided in the Agreement, does
 not violate Regulations T, U or X of the FRB. 

H-2 

EXHIBIT I 

FORM OF ASSIGNMENT AND ACCEPTANCE AGREEMENT 

        This ASSIGNMENT
AND ACCEPTANCE AGREEMENT (this “Assignment and Acceptance”) dated as of _____________ is made between
__________________ (the “Assignor”) and ________________ (the “Assignee”). 

RECITALS 

        WHEREAS,
the Assignor is party to that certain 364-Day Revolving Credit Agreement dated as of July
22, 2004 (as amended, restated, modified, supplemented or renewed from time to time, the
“Credit Agreement”), among Deluxe Corporation (the
“Company”), the several financial institutions from time to time party
thereto (including the Assignor, the “Banks”) and Bank One, NA, as agent
for the Banks (the “Agent”). Any terms defined in the Credit Agreement
and not defined in this Assignment and Acceptance are used herein as defined in the Credit
Agreement; 

        WHEREAS,
as provided under the Credit Agreement, the Assignor has committed to making Committed
Loans to the Company in an aggregate amount not to exceed $__________ (the
“Commitment”); 

        WHEREAS,
[the Assignor has made Committed Loans in the aggregate principal amount of $__________ to
the Company consisting of $___________ principal amount of Committed Loans [no Committed
Loans are outstanding under the Credit Agreement]; and 

        WHEREAS,
the Assignor wishes to assign to the Assignee [part of the] [all] rights and obligations
of the Assignor under the Credit Agreement in respect of its Commitment, [together with a
corresponding portion of each of its outstanding Committed Loans], in an amount equal to
___% of the Assignor’s Commitment and Committed Loans, on the terms and subject to
the conditions set forth herein, and the Assignee wishes to accept assignment of such
rights and to assume such obligations from the Assignor on such terms and subject to such
conditions; 

        NOW,
THEREFORE, in consideration of the foregoing and the mutual agreements contained herein,
the parties hereto agree as follows: 

        1.    Assignment and Acceptance.  

                (a)    Subject
to the terms and conditions of this Assignment and Acceptance, (i) the Assignor hereby sells, transfers and assigns
to the Assignee, and (ii) the Assignee hereby purchases, assumes and undertakes from the Assignor, without recourse
and without representation or warranty (except as provided in this Assignment and Acceptance) ___% (the
“Assignee’s Percentage Share”) of (A) the Commitment [and the Committed Loans] of the
Assignor and (B) all related rights, benefits, obligations, liabilities and indemnities of the Assignor under and
in connection with the Credit Agreement and the Loan Documents. 

I-1 

                (b)    With
effect on and after the Effective Date (as defined in Section 5 hereof), the Assignee shall be a party to the
Credit Agreement and succeed to all of the rights and be obligated to perform all of the obligations of a Bank under the
Credit Agreement, including the requirements concerning confidentiality and the payment of indemnification, with a
Commitment in the amount set forth in subsection (c) below. The Assignee agrees that it will perform in accordance
with their terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as
a Bank. It is the intent of the parties hereto that the Commitment of the Assignor shall, as of the Effective Date, be
reduced by an amount equal to the portion thereof assigned to the Assignee hereunder, and the Assignor shall relinquish
its rights and be released from its obligations under the Credit Agreement to the extent such obligations have been
assumed by the Assignee; provided, however, that the Assignor shall not relinquish its rights under
Article III or Sections 10.04 and 10.05 of the Credit Agreement to the extent such rights relate to the time prior
to the Effective Date. 

                (c)    After
giving effect to the assignment and assumption set forth herein, on the Effective Date: (i) the Assignee’s
Commitment will be $__________; and (ii) the principal amount of the Assignee’s aggregate outstanding
Committed Loans will be $_______________. 

                (d)    After
giving effect to the assignment and assumption set forth herein, on the Effective Date: (i) the Assignor’s
Commitment will be $__________; and (ii) the principal amount of the Assignor’s aggregate outstanding
Committed Loans will be $_______________. 

        2.    Payments.  

                (a)    As
consideration for the sale, assignment and transfer contemplated in Section 1 hereof, the Assignee shall pay to the
Assignor on the Effective Date in immediately available funds an amount equal to $__________, representing the
Assignee’s Percentage Share of the principal amount of all Committed Loans previously made by the Assignor to the
Company under the Credit Agreement and outstanding on the Effective Date. 

                (b)    The
[Assignor] [Assignee] further agrees to pay to the Agent a processing fee in the amount specified in Section 10.08(a) of
the Credit Agreement. 

        3.    Reallocation
of Payments.   Any interest, fees and other payments accrued prior to the Effective Date with respect
to the Commitment and Committed Loans of the Assignor shall be for the account of the Assignor. Any interest, fees and
other payments accrued on and after the Effective Date with respect to the portion of such Commitment and Committed
Loans assigned to the Assignee shall be for the account of the Assignee. Each of the Assignor and the Assignee agrees
that it will hold in trust for the other party any interest, fees and other amounts which it may receive to which the
other party is entitled pursuant to the preceding sentence and pay to the other party any such amounts which it may
receive promptly upon receipt. 

        4.    Independent
Credit Decision.   The Assignee: (a) acknowledges that it has received a copy of the Credit
Agreement and the Schedules and Exhibits thereto, together with copies of the most recent financial statements referred
to in Section 5.11 or Section 6.01 of the Credit Agreement, and such other documents and information as it has
deemed appropriate to 

I-2 

make its own credit and legal analysis and decision to enter into
this Assignment and Acceptance; and (b) agrees that it will, independently and without reliance upon the Assignor,
the Agent, the Arrangers, or any other Bank and based on such documents and information as it shall deem appropriate at
the time, continue to make its own credit and legal decisions in taking or not taking action under the Credit Agreement.

        5.    Effective Date; Notices.  

                (a)    As
between the Assignor and the Assignee, the effective date for this Assignment and Acceptance shall be ______________
(the “Effective Date”); provided that the following conditions precedent have been satisfied on
or before the Effective Date: 

	  	        (i)    this
Assignment and Acceptance shall be executed and delivered by the Assignor and the Assignee; 

	  	        (ii)    any
consent of the Company and the Agent required under Section 10.08(a) of the Credit Agreement for the effectiveness
of the assignment hereunder by the Assignor to the Assignee shall have been duly obtained and shall be in full force and
effect as of the Effective Date; 

	  	        (iii)    the
Assignee shall pay to the Assignor all amounts due to the Assignor under this Assignment and Acceptance; 

	  	        (iv)    the
processing fee referred to in Section 2(b) hereof and in Section 10.08(a) of the Credit Agreement shall have
been paid to the Agent; and 

	  	        (v)    the
Assignor and Assignee shall have complied with the other requirements of Section 10.08 of the Credit Agreement and
with the requirements of Sections 9.10 and 3.01 of the Credit Agreement (in each case to the extent
applicable).

                (b)    Promptly
following the execution of this Assignment and Acceptance, the Assignor shall deliver to the Company and the Agent for
acknowledgement by the Agent, a Notice of Assignment substantially in the form attached hereto as
Schedule 1. 

        6.    Agent.   The
Assignee hereby appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers
under the Credit Agreement as are delegated to the Agent by the Banks pursuant to the terms of the Credit Agreement.
[The Assignee shall assume no duties or obligations held by the Assignor in its capacity as Agent under the Credit
Agreement.] [INCLUDE ONLY IF ASSIGNOR IS AGENT] 

        7.    Withholding
Tax.   The Assignee agrees to comply with Sections 3.01 and 9.10 of the Credit Agreement (if
applicable). 

I-3 

                8.    Representations
and Warranties.  

                (a)    The
Assignor represents and warrants that (i) it is the legal and beneficial owner of the interest being assigned by it
hereunder and that such interest is free and clear of any Lien or other adverse claim; (ii) it is duly organized
and existing and it has the full power and authority to take, and has taken, all action necessary to execute and deliver
this Assignment and Acceptance and any other documents required or permitted to be executed or delivered by it in
connection with this Assignment and Acceptance and to fulfill its obligations hereunder; (iii) no notices to, or
consents, authorizations or approvals of, any Person are required (other than those referred to in
Section 5(a)(ii) hereof and any already given or obtained) for its due execution, delivery and performance of
this Assignment and Acceptance, and apart from any agreements or undertakings or filings required by the Credit
Agreement, no further action by, or notice to, or filing with, any Person is required of it for such execution, delivery
or performance; and (iv) this Assignment and Acceptance has been duly executed and delivered by it and constitutes
the legal, valid and binding obligation of the Assignor, enforceable against the Assignor in accordance with the terms
hereof, subject, as to enforcement, to bankruptcy, insolvency, moratorium, reorganization and other laws of general
application relating to or affecting creditors’ rights and to general equitable principles. 

                (b)    The
Assignor makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or
representations made in or in connection with the Credit Agreement or the execution, legality, validity, enforceability,
genuineness, sufficiency or value of the Credit Agreement or any other instrument or document furnished pursuant
thereto. The Assignor makes no representation or warranty in connection with, and assumes no responsibility with respect
to, the solvency, financial condition or statements of the Company, or the performance or observance by the Company, of
any of its respective obligations under the Credit Agreement or any other instrument or document furnished in connection
therewith. 

                (c)    The
Assignee represents and warrants that (i) it is duly organized and existing and it has full power and authority to
take, and has taken, all action necessary to execute and deliver this Assignment and Acceptance and any other documents
required or permitted to be executed or delivered by it in connection with this Assignment and Acceptance, and to
fulfill its obligations hereunder; (ii) no notices to, or consents, authorizations or approvals of, any Person are
required (other than those referred to in Section 5(a)(ii) hereof and any already given or obtained) for its
due execution, delivery and performance of this Assignment and Acceptance; and apart from any agreements or undertakings
or filings required by the Credit Agreement, no further action by, or notice to, or filing with, any Person is required
of it for such execution, delivery or performance; (iii) this Assignment and Acceptance has been duly executed and
delivered by it and constitutes the legal, valid and binding obligation of the Assignee, enforceable against the
Assignee in accordance with the terms hereof, subject, as to enforcement, to bankruptcy, insolvency, moratorium,
reorganization and other laws of general application relating to or affecting creditors’ rights and to general
equitable principles; and (iv) it is an Eligible Assignee. 

I-4 

        9.    Further Assurances.  

                The
Assignor and the Assignee each hereby agrees to execute and deliver such other instruments, and take such other action,
as either party may reasonably request in connection with the transactions contemplated by this Agreement, including the
delivery of any notices or other documents to the Company or the Agent, which may be required in connection with the
assignment and assumption contemplated hereby. 

        10.    Miscellaneous.  

                (a)    Any
amendment or waiver of any provision of this Assignment and Acceptance shall be in writing and signed by the parties
hereto. No failure or delay by either party hereto in exercising any right, power or privilege hereunder shall operate
as a waiver thereof and any waiver of any breach of the provisions of this Assignment and Acceptance shall be without
prejudice to any rights with respect to any other or further breach thereof. 

                (b)    All
payments made hereunder shall be made without any set-off or counterclaim. 

                (c)    The
Assignor and the Assignee shall each pay its own costs and expenses incurred in connection with the negotiation,
preparation, execution and performance of this Assignment and Acceptance. 

                (d)    This
Assignment and Acceptance may be executed in any number of counterparts and all of such counterparts taken together
shall be deemed to constitute one and the same instrument. 

                (e)    THIS
ASSIGNMENT AND ACCEPTANCE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK. THE
ASSIGNOR AND THE ASSIGNEE EACH IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT
SITTING IN NEW YORK OVER ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS ASSIGNMENT AND ACCEPTANCE AND
IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK
STATE OR FEDERAL COURT. EACH PARTY TO THIS ASSIGNMENT AND ACCEPTANCE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT
MAY EFFECTIVELY DO SO, ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM
NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION
IN RESPECT OF THIS ASSIGNMENT AND ACCEPTANCE OR ANY DOCUMENT RELATED HERETO, AND PERSONAL SERVICE OF ANY SUMMONS,
COMPLAINT OR OTHER PROCESS, WHICH MAY BE MADE BY ANY OTHER MEANS PERMITTED BY NEW YORK LAW. 

                (f)    THE
ASSIGNOR AND THE ASSIGNEE EACH HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHTS IT MAY HAVE TO A 

I-5 

TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING
OUT OF, UNDER, OR IN CONNECTION WITH THIS ASSIGNMENT AND ACCEPTANCE, AND ANY RELATED DOCUMENTS AND AGREEMENTS, OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY EITHER
OF THE PARTIES AGAINST THE OTHER PARTY, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. EACH OF THE
PARTIES ALSO AGREES THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. [Other
provisions to be added as may be negotiated between the Assignor and the Assignee, provided that such provisions are not
inconsistent with the Credit Agreement.] 

        IN
WITNESS WHEREOF, the Assignor and the Assignee have caused this Assignment and Acceptance
to be executed and delivered by their duly authorized officers as of the date first above
written. 

[ASSIGNOR] 

By: _________________________ 
Title: _________________________ 

[ASSIGNEE] 

By: _________________________ 
Title: _________________________ 

 

I-6 

SCHEDULE 1 
to the Assignment and Acceptance 

NOTICE OF ASSIGNMENT AND ACCEPTANCE 

Date: ___________________

Bank One, NA
as Agent 

_____________________________________

_____________________________________ 
_____________________________________ 

Attention: ________________ 

Deluxe Corporation 

_____________________________________

_____________________________________ 
_____________________________________ 

Attention: ________________ 

Ladies and Gentlemen: 

        We refer to the 364-Day Revolving Credit Agreement dated
as of July 22, 2004 (as amended, restated, modified, supplemented or renewed from time to time, the “Credit
Agreement”) among Deluxe Corporation (the “Company”), the Banks referred to therein and Bank
One, NA, as Agent for the Banks (the “Agent”). Terms defined in the Credit Agreement are used herein as
therein defined. 

    1.        We hereby give you
notice of[, and request the consent of the Company and the Agent to, the assignment by ________________________ (the
“Assignor”) to ____________________ (the “Assignee”) of ____% of the right, title and
interest of the Assignor in and to the Credit Agreement (including, without limitation, ____% of the right, title and
interest of the Assignor in and to the Commitment of the Assignor and all outstanding Committed Loans made by the
Assignor) pursuant to that certain Assignment and Acceptance Agreement, dated as of ___________ (the “Assignment
and Acceptance”) between Assignor and Assignee, a copy of which Assignment and Acceptance is attached hereto.
Before giving effect to such assignment the Assignor’s Commitment is $___________ and the aggregate principal
amount of its outstanding Committed Loans is $__________. 

    2.        The Assignee agrees
 that, upon receiving the consent of the Company and the Agent to such assignment and from and after
 the Effective Date (as such term is defined in Section 5 of the Assignment and Acceptance), the Assignee
 shall be bound by the terms of the Credit Agreement, with respect to the interest in the Credit Agreement
 assigned to it as specified 

above, as fully and to the same
extent as if the Assignee were the Bank  originally holding such interest in the Credit
Agreement.  

        3.        The
following administrative  details apply to the Assignee:  

        (A)      Lending
Office(s):  

	Assignee name:	____________________________________
	Address:	____________________________________
	 	____________________________________
	 	____________________________________
	 	____________________________________
	Attention:	____________________________________
	Telephone: 	(   )__________________________________
	Facsimile: 	(   )__________________________________

	Assignee name:	____________________________________
	Address:	____________________________________
	 	____________________________________
	 	____________________________________
	 	____________________________________
	Attention:	____________________________________
	Telephone: 	(   )__________________________________
	Facsimile: 	(   )__________________________________

        (B)      Notice
Address: 

	Assignee name:	____________________________________
	Address:	____________________________________
	 	____________________________________
	 	____________________________________
	 	____________________________________
	Attention:	____________________________________
	Telephone: 	(   )__________________________________
	Facsimile: 	(   )__________________________________

        (C)      Payment Instructions:  

	Account No.:	____________________________________
	At:	____________________________________
	 	____________________________________
	 	____________________________________
	 	____________________________________
	Reference:	____________________________________
	Attention:	____________________________________

Schedule 1 
Page 2 

        4.        You
are entitled to  rely upon the representations, warranties and covenants of each of the
Assignor and Assignee contained  in the Assignment and Acceptance.  

        5.        This
Notice of Assignment  and Acceptance may be executed by the Assignor and the Assignee in
separate counterparts, each of which  when so executed and delivered shall be deemed to
be an original and all of which taken together shall  constitute one and the same notice
and agreement.  

[remainder of page intentionally left blank] 

Schedule 1 
Page 3 

        IN WITNESS WHEREOF, the Assignor and the
 Assignee have caused this Notice of Assignment and Acceptance to be executed by their respective duly
 authorized officials, officers or agents as of the date first above mentioned. 

	 	Very truly yours,
	
Adjusted Commitment: 	[ASSIGNOR]
	 
	$________________________________	By: ________________________________
	 
	 	Title: ________________________________
	Adjusted Pro Rata Share: 
	
________%
	 
	 
	Commitment: 	[ASSIGNEE]
	 
	$________________________________]	By: ________________________________
	 
	 	Title: ________________________________
	 
	 
	ACKNOWLEDGED this ____ day of ________:
	 
	BANK ONE, NA
	as Agent and as an LC Issuer
	 
	By: ________________________________
	 
	Title: ________________________________
	 
	 
	CONSENTED TO this ____ day of ________:
	 
	DELUXE CORPORATION
	 
	By: ________________________________
	 
	Title: ________________________________

Schedule 1 
Page 4

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