Document:

ex4-1.htm

Exhibit 4.1

 

 

J. B. HUNT TRANSPORT SERVICES, INC.,

Issuer

 

ANY GUARANTORS PARTY HERETO

 

- and -

 

U.S. BANK NATIONAL ASSOCIATION,

Trustee

 

_______________

 

INDENTURE

_______________

 

Dated as of ●, 2010

 

Debt Securities

 

 

 

  

  

  

Reconciliation and tie between

 

Trust Indenture Act of 1939 (the “Trust Indenture Act”)

 

and Indenture

 

	

Trust Indenture

Act Section

 

	  	

Indenture Section

 

	
§310(a)(1)

	  	
607

	
(a)(2)

	  	
607

	
(b)

	  	
608

	
§312(a)

	  	
701

	
(b)

	  	
702

	
(c)

	  	
702

	
§313(a)

	  	
703

	
(b)(2)

	  	
703

	
(c)

	  	
703

	
(d)

	  	
703

	
§314(a)

	  	
704

	
(c)(1)

	  	
102

	
(c)(2)

	  	
102

	
(e)

	  	
102

	
(f)

	  	
102

	
§316(a) (last sentence)

	  	
101

	
(a)(1)(A)

	  	
502, 512

	
(a)(1)(B)

	  	
513

	
(b)

	  	
508

	
§317(a)(1)

	  	
503

	
(a)(2)

	  	
504

	
(b)

	  	
1003

	
§318(a)

	  	
108

 

____________________________

	
Note:

	
This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture.

 

 

  

  

  

TABLE OF CONTENTS

 

	 	 	
Page

	 	 	 
	 	 	 
	
ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

	
1

	 	 	 
	
Section 101.

	
Definitions.

	
1

	
Section 102.

	
Compliance Certificates and Opinions.

	
12

	
Section 103.

	
Form of Documents Delivered to Trustee.

	
12

	
Section 104.

	
Acts of Holders.

	
13

	
Section 105.

	
Notices, etc. to Trustee and Company.

	
14

	
Section 106.

	
Notice to Holders of Securities; Waiver.

	
15

	
Section 107.

	
Language of Notices.

	
16

	
Section 108.

	
Conflict with Trust Indenture Act.

	
16

	
Section 109.

	
Effect of Headings and Table of Contents.

	
16

	
Section 110.

	
Successors and Assigns.

	
16

	
Section 111.

	
Separability Clause.

	
16

	
Section 112.

	
Benefits of Indenture.

	
16

	
Section 113.

	
Governing Law.

	
16

	
Section 114.

	
Legal Holidays.

	
17

	
Section 115.

	
Counterparts.

	
17

	
Section 116.

	
Judgment Currency.

	
17

	
Section 117.

	
Extension of Payment Dates.

	
18

	
Section 118.

	
Immunity of Stockholders, Directors, Officers and Agents of the Company.

	
18

	 	 	 
	 	 	 
	
ARTICLE TWO SECURITIES FORMS

	
18

	 	 	 
	
Section 201.

	
Forms Generally.

	
18

	
Section 202.

	
Form of Trustee’s Certificate of Authentication.

	
19

	
Section 203.

	
Securities in Global Form.

	
19

	 	 
	 	 
	
ARTICLE THREE THE SECURITIES

	
20

	 	 	 
	
Section 301.

	
Amount Unlimited; Issuable in Series.

	
20

	
Section 302.

	
Currency; Denominations.

	
24

	
Section 303.

	
Execution, Authentication, Delivery and Dating.

	
25

	
Section 304.

	
Temporary Securities.

	
26

	
Section 305.

	
Registration, Transfer and Exchange.

	
27

	
Section 306.

	
Mutilated, Destroyed, Lost and Stolen Securities.

	
31

	
Section 307.

	
Payment of Interest and Certain Additional Amounts; Rights to Interest and Certain Additional Amounts Preserved.

	
32

	
Section 308.

	
Persons Deemed Owners.

	
34

	
Section 309.

	
Cancellation.

	
34

	
Section 310.

	
Computation of Interest.

	
35

 

  

i

  

 

	
ARTICLE FOUR SATISFACTION AND DISCHARGE OF INDENTURE

	
35

	 	 	 
	
Section 401.

	
Satisfaction and Discharge.

	
35

	
Section 402.

	
Defeasance and Covenant Defeasance.

	
37

	
Section 403.

	
Application of Trust Money.

	
41

	
Section 404.

	
Reinstatement.

	
42

	 	 
	 	 
	
ARTICLE FIVE REMEDIES

	
42

	 	 	 
	
Section 501.

	
Events of Default.

	
42

	
Section 502.

	
Acceleration of Maturity; Rescission and Annulment.

	
44

	
Section 503.

	
Collection of Indebtedness and Suits for Enforcement by Trustee.

	
46

	
Section 504.

	
Trustee May File Proofs of Claim.

	
47

	
Section 505.

	
Trustee May Enforce Claims without Possession of Securities or Coupons.

	
47

	
Section 506.

	
Application of Money Collected.

	
48

	
Section 507.

	
Limitations on Suits.

	
48

	
Section 508.

	
Unconditional Right of Holders to Receive Principal and any Premium, Interest and Additional Amounts.

	
49

	
Section 509.

	
Restoration of Rights and Remedies.

	
49

	
Section 510.

	
Rights and Remedies Cumulative.

	
49

	
Section 511.

	
Delay or Omission Not Waiver.

	
49

	
Section 512.

	
Control by Holders of Securities.

	
50

	
Section 513.

	
Waiver of Past Defaults.

	
50

	
Section 514.

	
Waiver of Usury, Stay or Extension Laws.

	
51

	
Section 515.

	
Undertaking for Costs.

	
51

	 	 
	 	 
	
ARTICLE SIX THE TRUSTEE

	
51

	 	 	 
	
Section 601.

	
Certain Rights of Trustee.

	
51

	
Section 602.

	
Notice of Defaults.

	
52

	
Section 603.

	
Not Responsible for Recitals or Issuance of Securities.

	
53

	
Section 604.

	
May Hold Securities.

	
53

	
Section 605.

	
Money Held in Trust.

	
53

	
Section 606.

	
Compensation and Reimbursement.

	
53

	
Section 607.

	
Corporate Trustee Required; Eligibility.

	
54

	
Section 608.

	
Resignation and Removal; Appointment of Successor.

	
54

	
Section 609.

	
Acceptance of Appointment by Successor.

	
56

	
Section 610.

	
Merger, Conversion, Consolidation or Succession to Business.

	
57

	
Section 611.

	
Appointment of Authenticating Agent.

	
57

	 	 
	 	 
	
ARTICLE SEVEN HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

	
59

	 	 
	
Section 701.

	
Company to Furnish Trustee Names and Addresses of Holders.

	
59

	
Section 702.

	
Preservation of Information; Communications to Holders.

	
60

	
Section 703.

	
Reports by Trustee.

	
60

	
Section 704.

	
Reports by Company.

	
60

 

  

ii

  

 

	
ARTICLE EIGHT CONSOLIDATION, MERGER AND SALES

	
61

	 	 	 
	
Section 801.

	
Company May Consolidate, Etc., Only on Certain Terms.

	
61

	
Section 802.

	
Successor Person Substituted for Company.

	
62

	 	 	 
	 	 
	
ARTICLE NINE SUPPLEMENTAL INDENTURES

	
62

	 	 	 
	
Section 901.

	
Supplemental Indentures without Consent of Holders.

	
62

	
Section 902.

	
Supplemental Indentures with Consent of Holders.

	
64

	
Section 903.

	
Execution of Supplemental Indentures.

	
65

	
Section 904.

	
Effect of Supplemental Indentures.

	
66

	
Section 905.

	
Reference in Securities to Supplemental Indentures.

	
66

	
Section 906.

	
Conformity with Trust Indenture Act.

	
66

	 	 
	 	 
	
ARTICLE TEN COVENANTS

	
66

	 	 	 
	
Section 1001.

	
Payment of Principal, Premium, Interest and Additional Amounts.

	
66

	
Section 1002.

	
Maintenance of Office or Agency.

	
67

	
Section 1003.

	
Money for Securities Payments to Be Held in Trust.

	
68

	
Section 1004.

	
Additional Amounts.

	
69

	
Section 1005.

	
Corporate Existence.

	
70

	
Section 1006.

	
Maintenance of Properties.

	
71

	
Section 1007.

	
Payment of Taxes and Other Claims.

	
71

	
Section 1008.

	
Limitations on Liens.

	
71

	
Section 1009.

	
Sale and Leaseback Transactions.

	
72

	
Section 1010.

	
Waiver of Certain Covenants.

	
73

	
Section 1011.

	
Company Statement as to Compliance.

	
73

	 	 	 
	 	 
	
ARTICLE ELEVEN REDEMPTION OF SECURITIES

	
73

	 	 	 
	
Section 1101.

	
Applicability of Article.

	
73

	
Section 1102.

	
Election to Redeem; Notice to Trustee.

	
74

	
Section 1103.

	
Selection by Trustee of Securities to be Redeemed.

	
74

	
Section 1104.

	
Notice of Redemption.

	
75

	
Section 1105.

	
Deposit of Redemption Price.

	
76

	
Section 1106.

	
Securities Payable on Redemption Date.

	
76

	
Section 1107.

	
Securities Redeemed in Part.

	
77

 

  

iii

  

 

	
ARTICLE TWELVE SINKING FUNDS

	
78

	 	 	 
	
Section 1201.

	
Applicability of Article.

	
78

	
Section 1202.

	
Satisfaction of Sinking Fund Payments with Securities.

	
78

	
Section 1203.

	
Redemption of Securities for Sinking Fund.

	
79

	 	 	 
	 	 
	
ARTICLE THIRTEEN REPAYMENT AT THE OPTION OF HOLDERS

	
79

	 	 	 
	
Section 1301.

	
Applicability of Article.

	
79

	 	 	 
	 	 
	
ARTICLE FOURTEEN SECURITIES IN FOREIGN CURRENCIES

	
80

	 	 	 
	
Section 1401.

	
Applicability of Article.

	
80

	 	 	 
	 	 
	
ARTICLE FIFTEEN MEETINGS OF HOLDERS OF SECURITIES

	
80

	 	 	 
	
Section 1501.

	
Purposes for Which Meetings May Be Called.

	
80

	
Section 1502.

	
Call, Notice and Place of Meetings.

	
80

	
Section 1503.

	
Persons Entitled to Vote at Meetings.

	
81

	
Section 1504.

	
Quorum; Action.

	
81

	
Section 1505.

	
Determination of Voting Rights; Conduct and Adjournment of Meetings.

	
82

	
Section 1506.

	
Counting Votes and Recording Action of Meetings.

	
83

	 	 	 
	 	 	 
	
ARTICLE SIXTEEN GUARANTEE.

	
83

	 	 	 
	
Section 1601.

	
Applicability of Article.

	
83

	
Section 1602.

	
Guarantee.

	
83

	
Section 1603.

	
Waiver.

	
84

	
Section 1604.

	
Guarantee of Payment.

	
85

	
Section 1605.

	
No Discharge or Diminishment of Guarantee.

	
85

	
Section 1606.

	
Defenses of Company Waived.

	
85

	
Section 1607.

	
Continued Effectiveness.

	
85

	
Section 1608.

	
Subrogation.

	
86

	
Section 1609.

	
Information.

	
86

	
Section 1610.

	
Subordination.

	
86

	
Section 1611.

	
Release of Guarantor.

	
87

	
Section 1612.

	
Limitation of Guarantor’s Liability.

	
87

	
Section 1613.

	
Contribution from Other Guarantors.

	
87

	
Section 1614.

	
No Obligation to Take Action Against the Company.

	
88

	
Section 1615.

	
Additional Guarantors.

	
88

	
Section 1616.

	
Execution and Delivery of the Guarantee.

	
88

	
Section 1617.

	
Successor Guarantor.

	
88

 

 

  

iv

  

INDENTURE, dated as of =, 2010 (the “Indenture”), among J.B. HUNT TRANSPORT SERVICES, INC., a corporation duly organized and existing under the laws of the State of Arkansas (the “Company”), having its principal executive office located at 615 J.B. Hunt Corporate Drive, Lowell, Arkansas 72745, any Guarantors (as defined herein) party hereto and U.S. BANK NATIONAL ASSOCIATION, as trustee (the “Trustee”).

 

RECITALS

 

The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its senior unsecured debentures, notes or other evidences of indebtedness (hereinafter called the “Securities”), unlimited as to principal amount and which may be guaranteed by each of the Guarantors, to bear such fixed or floating rates of interest, to mature at such time or times, to be issued in one or more series and to have such other provisions as shall be fixed as hereinafter provided.

 

The Company has duly authorized the execution and delivery of this Indenture.  All things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done.

 

This Indenture is subject to the provisions of the Trust Indenture Act (as herein defined), and the rules and regulations of the Commission (as herein defined) promulgated thereunder that are required to be part of this Indenture and, to the extent applicable, shall be governed by such provisions.

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

For and in consideration of the premises and the purchase of the Securities by the Holders (as herein defined) thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of any series thereof and any Coupons (as herein defined) as follows:

 

ARTICLE ONE

 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

Section 101.   Definitions.

 

Except as otherwise expressly provided in or pursuant to this Indenture or unless the context otherwise requires, for all purposes of this Indenture:

 

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

 

(2) all other terms used herein which are defined in the Trust Indenture Act either directly or by reference therein, have the meanings assigned to them therein;

 

  

  

  

 

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

 

(4) the words “herein”, “hereof”, “hereto” 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;

 

(5) the word “or” is always used inclusively (for example, the phrase “A or B” means “A or B or both”, not “either A or B but not both”);

 

(6) provisions apply to successive events and transactions;

 

(7) the term “merger” includes a statutory share exchange and the terms “merge” and “merged” have correlative meanings;

 

(8) the masculine gender includes the feminine and the neuter; and

 

(9) references to agreements and other instruments include subsequent amendments and supplements thereto.

 

Certain terms used principally in certain Articles hereof are defined in those Articles.

 

“Act”, when used with respect to any Holders, has the meaning specified in Section 104.

 

“Additional Amounts” means any additional amounts which are required by this Indenture or by any Security, or by the terms of any Security established pursuant to Section 301, under circumstances specified herein or therein, to be paid by the Company in respect of certain taxes, duties, levies, imposts, assessments or other governmental charges imposed on Holders specified herein or therein.

 

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

 

 “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 611 to act on behalf of the Trustee to authenticate Securities of one or more series.

 

“Authorized Newspaper” means a newspaper, in an official language of the place of publication or in the English language, customarily published on each day that is a Business Day in the place of publication, whether or not published on days that are not Business Days in the place of publication, and of general circulation in each place in connection with which the term is used or in the financial community of each such place.  Where successive publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different newspapers in the same place meeting the foregoing requirements and in each case on any day that is a Business Day in the place of publication.

 

  

2

  

 

“Bearer Security” means any Security in the form established pursuant to Section 201 which is payable to bearer.

 

“Board of Directors” means the board of directors of the Company or any committee of that board duly authorized to act generally or in any particular respect for the Company hereunder.  The term “board of directors” means the board of directors of the Company and does not include committees of the board of directors.

 

“Board Resolution” means a copy of one or more resolutions, 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, delivered to the Trustee.

 

“Business Day” means, unless otherwise specified with respect to the Securities of any series pursuant to Section 301, any day other than a Saturday, Sunday or other day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to close; provided that such term shall mean, when used with respect to any payment of principal of, or premium or interest, if any, on, or Additional Amounts with respect to, the Securities of any series to be made at any Place of Payment for such Securities, unless otherwise specified pursuant to Section 301 with respect to such Securities, any day other than a Saturday, Sunday or other day on which banking institutions in such Place of Payment are authorized or obligated by law, regulation or executive order to close.

 

“Capital Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) the equity of such Person, including any preferred stock, partnership interests and limited liability company membership interests, but excluding any debt securities convertible into such equity.

 

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

 

“Common Stock” includes any stock of any class of the Company which has no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company and which is not subject to redemption by the Company.

 

“Company” means the Person named as the “Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person and any other obligor upon the Securities.

 

“Company Request” and “Company Order” mean, respectively, a written request or order, as the case may be, signed in the name of the Company by the Chairman, the Chief Executive Officer, the President or a Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee.

 

  

3

  

 

“Consolidated Capitalization” means the total of all the assets appearing on the most recent quarterly or annual consolidated balance sheet of the Company and its consolidated Subsidiaries, less the following:

 

(1) current liabilities, including liabilities for indebtedness maturing more than 12 months from the date of the original creation thereof, but maturing within 12 months from the date of such consolidated balance sheet; and

 

(2) deferred income tax liabilities appearing on such consolidated balance sheet.

 

“Consolidated Net Tangible Assets” means the excess over current liabilities of all assets appearing on the most recent quarterly or annual consolidated balance sheet of the Company and its consolidated Subsidiaries less goodwill and other intangible assets and the minority interests of others in Subsidiaries.

 

“Conversion Event” means the cessation of use of (i) a Foreign Currency both by the government of the country or the confederation which issued such Foreign Currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community or (ii) any currency unit or composite currency for the purposes for which it was established.

 

“Corporate Trust Office” means either (A) the principal corporate trust office of the Trustee at which at any particular time its corporate trust business shall be administered, which office at the date of this Indenture is located at =, Attention: = or (B) for purposes of Section 1002, “Corporate Trust Office” means the principal corporate trust office of the Trustee in the Borough of Manhattan, The City of New York at which at any particular time its corporate trust business shall be administered in The City of New York, which office at the date of this Indenture is located at =, Attention:  =.

 

“Corporation” includes corporations, partnerships, associations, limited liability companies and other companies, and business trusts.  The term “corporation” means a corporation and does not include partnerships, associations, limited liability companies or other companies or business trusts.

 

“Coupon” means any interest coupon appertaining to a Bearer Security.

 

“Currency”, with respect to any payment, deposit or other transfer in respect of the principal of or any premium or interest on or any Additional Amounts with respect to any Security, means Dollars or the Foreign Currency, as the case may be, in which such payment, deposit or other transfer is required to be made by or pursuant to the terms hereof or such Security and, with respect to any other payment, deposit or transfer pursuant to or contemplated by the terms hereof or such Security, means Dollars.

 

“CUSIP number” means the alphanumeric designation assigned to a Security by Standard & Poor’s, CUSIP Service Bureau.

 

“Defaulted Interest” has the meaning specified in Section 307.

 

  

4

  

 

“Depository” means, with respect to any Security issuable or issued in the form of one or more global Securities, the Person designated as depository by the Company in or pursuant to this Indenture, and, unless otherwise provided with respect to any Security, any successor to such Person.  If at any time there is more than one such Person, “Depository” shall mean, with respect to any Securities, the depository which has been appointed with respect to such Securities.

 

“Dollars” or “$” means a dollar or other equivalent unit of legal tender for payment of public or private debts in the United States of America.

 

“Event of Default” has the meaning specified in Section 501.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor thereto, in each case as amended from time to time.

 

“Foreign Currency” means any currency, currency unit or composite currency issued by the government of one or more countries other than the United States of America or by any recognized confederation or association of such government.

 

“GAAP” and “generally accepted accounting principles” mean, unless otherwise specified with respect to any series of Securities pursuant to Section 301, such accounting principles as are generally accepted in the United States of America as of the date or time of any computation required hereunder.

 

“Government Obligations” means securities which are (i) direct obligations of the United States of America or the other government or governments in the confederation which issued the Foreign Currency in which the principal of or any premium or interest on the relevant Security or any Additional Amounts in respect thereof shall be payable, in each case where the payment or payments thereunder are supported by the full faith and credit of such government or governments or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America or such other government or governments, in each case where the timely payment or payments thereunder are unconditionally guaranteed as a full faith and credit obligation by the United States of America or such other government or governments, and which, in the case of (i) or (ii), are not callable or redeemable at the option of the issuer or issuers thereof, and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such Government Obligation or a specific payment of interest on or principal of or other amount with respect to any such Government Obligation held by such custodian for the account of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Obligation or the specific payment of interest on or principal of or other amount with respect to the Government Obligation evidenced by such depository receipt.

 

“Guarantee” has the meaning stated in Section 1502(a). The term “Guarantee” used as a verb has a corresponding meaning.

 

“Guarantors” means any Subsidiary of the Company and any other Affiliate of the Company who may execute this Indenture, or a supplement hereto, for the purpose of providing a Guarantee of Securities pursuant to this Indenture until (a) a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Guarantors” shall mean such successor Person or (b) such Person shall have been released from its Guarantee pursuant to the provisions of this Indenture.

 

  

5

  

 

“Holder”, in the case of any Registered Security, means the Person in whose name such Security is registered in the Security Register and, in the case of any Bearer Security, means the bearer thereof and, in the case of any Coupon, means the bearer thereof.

 

“Indebtedness”, when used with respect to any Person, and without duplication, unless otherwise specified with respect to the Securities of any series pursuant to Section 301, means:

 

(1)           all indebtedness, obligations and other liabilities (contingent or otherwise) of such Person for borrowed money (including obligations in respect of overdrafts, foreign exchange contracts, currency exchange agreements, Interest Rate Protection Agreements, and any loans or advances from banks, whether or not evidenced by notes or similar instruments) or evidenced by bonds, debentures, notes or other instruments for the payment of money, or incurred in connection with the acquisition of any property, services or assets (whether or not the recourse of the lender is to the whole of the assets of such Person or to only a portion thereof), other than any account payable or other accrued current liability or obligation to trade creditors incurred in the ordinary course of business in connection with the obtaining of materials or services;

 

(2)           all reimbursement obligations and other liabilities (contingent or otherwise) of such Person with respect to letters of credit, bank guarantees, bankers’ acceptances, surety bonds, performance bonds or other guaranty of contractual performance;

 

(3)           all obligations and liabilities (contingent or otherwise) in respect of (a) leases of such Person required, in conformity with GAAP, to be accounted for as capitalized lease obligations on the balance sheet of such Person and (b) any lease or related documents (including a purchase agreement) in connection with the lease of real property which provides that such Person is contractually obligated to purchase or cause a third party to purchase the leased property and thereby guarantee a minimum residual value of the leased property to the landlord and the obligations of such Person under such lease or related document to purchase or to cause a third party to purchase the leased property;

 

(4)           all obligations of such Person (contingent or otherwise) with respect to an interest rate or other swap, cap or collar agreement or other similar instrument or agreement or foreign currency hedge, exchange, purchase or similar instrument or agreement;

 

(5)           all direct or indirect guaranties or similar agreements by such Person in respect of, and obligations or liabilities (contingent or otherwise) of such Person to purchase or otherwise acquire or otherwise assure a creditor against loss in respect of, indebtedness, obligations or liabilities of another Person of the kind described in clauses (1) through (4);

 

(6)           any indebtedness or other obligations described in clauses (1) through (5) secured by any mortgage, pledge, lien or other encumbrance existing on property which is owned or held by such Person, regardless of whether the indebtedness or other obligation secured thereby shall have been assumed by such Person; and

 

  

6

  

 

(7)           any and all deferrals, renewals, extensions, refinancings, replacements, restatements and refundings of, or amendments, modifications or supplements to, any indebtedness, obligation or liability of the kind described in clauses (1) through (6).

 

“Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and, with respect to any Security, by the terms and provisions of such Security and any Coupon appertaining thereto established pursuant to Section 301 (as such terms and provisions may be amended pursuant to the applicable provisions hereof), provided, however, that, if at any time more than one Person is acting as Trustee under this instrument, “Indenture” shall mean, with respect to any one or more series of Securities for which such Person is Trustee, this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of those particular series of Securities for which such Person is Trustee established pursuant to Section 301, exclusive, however, of any provisions or terms which relate solely to other series of Securities for which such Person is not Trustee, regardless of when such terms or provisions were adopted.

 

“Indexed Security” means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal face amount thereof at original issuance.

 

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

 

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

 

“Interest Rate Protection Agreement” means, with respect to any Person, any interest rate swap agreement, interest rate cap or collar agreement or other financial agreement or arrangement designed to protect such Person against fluctuations in interest rates, as in effect from time to time.

 

“Judgment Currency” has the meaning specified in Section 116.

 

“Maturity”, with respect to any Security, means the date on which the principal of such Security or an installment of principal becomes due and payable as provided in or pursuant to this Indenture or such Security, whether at the Stated Maturity, upon acceleration, upon redemption at the option of the Company, upon repurchase or repayment at the option of the Holder or otherwise, and includes a Redemption Date for such Security and a date fixed for the repurchase or repayment of such Security at the option of the Holder.

 

“New York Banking Day” has the meaning specified in Section 116.

 

“Obligations” has the meaning specified in Section 1602.

 

  

7

  

 

“Office” or “Agency”, with respect to any Securities, means an office or agency of the Company maintained or designated in a Place of Payment for such Securities pursuant to Section 1002 or any other office or agency of the Company maintained or designated for such Securities pursuant to Section 1002 or, to the extent designated or required by Section 1002 in lieu of such office or agency, the Corporate Trust Office of the Trustee.

 

“Officers’ Certificate” means a certificate signed by the Chairman, the Chief Executive Officer, the President or a Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the Company, that complies with the requirements of Section 314(e) of the Trust Indenture Act and is delivered to the Trustee.

 

“Opinion of Counsel” means a written opinion of counsel, who may be an employee of or counsel for the Company or other counsel who shall be reasonably acceptable to the Trustee, that, if required by the Trust Indenture Act, complies with the requirements of Section 314(e) of the Trust Indenture Act.

 

“Original Issue Discount Security” means a Security issued pursuant to this Indenture which provides for an amount less than the principal amount thereof to be due and payable upon acceleration pursuant to Section 502.

 

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

 

	
  

	
(a)

	
any such Security theretofore cancelled by the Trustee or the Security Registrar or delivered to the Trustee or the Security Registrar for cancellation;

 

	
  

	
(b)

	
any such Security for whose payment at the Maturity thereof money in the necessary amount (or, to the extent that such Security is payable at such Maturity in shares of Common Stock or other securities or property, Common Stock or such other securities or property in the necessary amount, together with, if applicable, cash in lieu of fractional shares or securities) has been theretofore deposited pursuant hereto (other than pursuant to Section 402) with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities and any Coupons appertaining thereto, provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made;

 

	
  

	
(c)

	
any such Security with respect to which the Company has effected defeasance or covenant defeasance pursuant to Section 402, except to the extent provided in Section 402;

 

	
  

	
(d)

	
any such Security which has been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, unless there shall have been presented to the Trustee proof satisfactory to it that such Security is held by a bona fide purchaser in whose hands such Security is a valid obligation of the Company; and

 

  

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(e)

	
any such Security converted or exchanged as contemplated by this Indenture into Common Stock or other securities or property, if the terms of such Security provide for such conversion or exchange pursuant to Section 301;

 

provided, however, that in determining whether the Holders of the requisite principal amount of Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders of Securities for quorum purposes, (i) the principal amount of an Original Issue Discount Security that may be counted in making such determination and that shall be deemed to be Outstanding for such purposes shall be equal to the amount of the principal thereof that pursuant to the terms of such Original Issue Discount Security would be due and payable upon acceleration thereof pursuant to Section 502 at the time of such determination, and (ii) the principal amount of any Indexed Security that may be counted in making such determination and that shall be deemed Outstanding for such purpose shall be equal to the principal amount of such Indexed Security at original issuance, unless otherwise provided in or pursuant to this Indenture, and (iii) the principal amount of a Security denominated in a Foreign Currency that may be counted in making such determination and that shall be deemed Outstanding for such purposes shall be the Dollar equivalent, determined on the date of original issuance of such Security, of the principal amount (or, in the case of an Original Issue Discount Security, the Dollar equivalent on the date of original issuance of such Security of the amount determined as provided in (i) above) of such Security, and (iv) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making any such determination or relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities which a Responsible Officer of the Trustee knows to be so owned shall be so disregarded.  Securities so owned which shall have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee (A) the pledgee’s right so to act with respect to such Securities and (B) that the pledgee is not the Company or any other obligor upon the Securities or any Coupons appertaining thereto or an Affiliate of the Company or such other obligor.

 

“Paying Agent” means any Person authorized by the Company to pay the principal of, or any premium or interest on, or any Additional Amounts with respect to, any Security or any Coupon on behalf of the Company.

 

“Person” and “person” mean any individual, Corporation, joint venture, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.

 

“Place of Payment”, with respect to any Security, means the place or places where the principal of, or any premium or interest on, or any Additional Amounts with respect to such Security are payable as provided in or pursuant to this Indenture or such Security.

 

  

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“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same indebtedness as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a lost, destroyed, mutilated or stolen Security or any Security to which a mutilated, destroyed, lost or stolen Coupon appertains shall be deemed to evidence the same indebtedness as the lost, destroyed, mutilated or stolen Security or the Security to which a mutilated, destroyed, lost or stolen Coupon appertains.

 

“Principal Facility” has the meaning specified in Section 1008.

 

“Redemption Date”, with respect to any Security or portion thereof to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture or such Security.

 

“Redemption Price”, with respect to any Security or portion thereof to be redeemed, means the price at which it is to be redeemed as determined by or pursuant to this Indenture or such Security.

 

“Registered Security” means any Security established pursuant to Section 201 which is registered in the Security Register.

 

“Regular Record Date” for the interest payable on any Registered Security on any Interest Payment Date therefor means the date, if any, specified in or pursuant to this Indenture or such Security as the regular record date for the payment of such interest.

 

“Required Currency” has the meaning specified in Section 116.

 

“Responsible Officer” means any officer of the Trustee in its Corporate Trust Office and also means, with respect to a particular corporate trust matter, any other officer or employee of the Trustee to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject.

 

“Sale and Leaseback Transaction” has the meaning specified in Section 1009.

 

“Securities Act” means the Securities Act of 1933, as amended, or any successor thereto, in each case as amended from time to time.

 

“Security” or “Securities” means any note or notes, bond or bonds, debenture or debentures, or any other evidences of indebtedness, as the case may be, authenticated and delivered under this Indenture; provided, however, that, if at any time there is more than one Person acting as Trustee under this Indenture, “Securities”, with respect to any such Person, shall mean Securities authenticated and delivered under this Indenture, exclusive, however, of Securities of any series as to which such Person is not Trustee.

 

“Security Register” and “Security Registrar” have the respective meanings specified in Section 305.

 

  

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“Significant Subsidiary” means any Subsidiary of the Company which is a “significant subsidiary” as defined in Rule 1-02 of Regulation S-X promulgated by the Commission (as such rule is in effect on the date of this Indenture).

 

“Special Record Date” for the payment of any Defaulted Interest on any Registered Security means a date fixed therefor by the Trustee pursuant to Section 307.

 

“Stated Maturity”, with respect to any Security or any installment of principal thereof or interest thereon or any Additional Amounts with respect thereto, means the date established by or pursuant to this Indenture or such Security as the fixed date on which the principal of such Security or such installment of principal or interest is, or such Additional Amounts are, due and payable.

 

 “Subsidiary” means (1) any corporation at least a majority of the total voting power of whose outstanding Voting Stock is owned, directly or indirectly, at the date of determination by the Company and/or one or more other Subsidiaries, and (2) any other Person in which the Company and/or one or more other Subsidiaries, directly or indirectly, at the date of determination, (x) own at least a majority of the outstanding ownership interests or (y) have the power to elect or direct the election of, or to appoint or approve the appointment of, at least a majority of the directors, trustees or managing members of, or other persons holding similar positions with, such Person.

 

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, and any reference herein to the Trust Indenture Act or a particular provision thereof shall mean such Act or provision, as the case may be, as amended or replaced from time to time or as supplemented from time to time by rules or regulations adopted by the Commission under or in furtherance of the purposes of such Act or provision, as the case may be.

 

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

 

“United States”, means the United States of America (including the states thereof and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction; and the term “United States of America” means the United States of America.

 

“United States Alien”, except as otherwise provided in or pursuant to this Indenture or any Security, means any Person who, for United States Federal income tax purposes, is a foreign corporation, a non-resident alien individual, a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members of which is, for United States Federal income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident alien fiduciary of a foreign estate or trust.

 

  

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

 

“Voting Stock” means, with respect to any corporation, any class or series of capital stock of such corporation the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of, or to appoint or to approve the appointment of, the directors of, or other persons holding similar positions with, such corporation.

 

Section 102.   Compliance Certificates and Opinions.

 

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

 

Section 103.   Form of Documents Delivered to Trustee.

 

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

 

Any certificate or opinion of an officer of the Company or any Guarantor may be based, insofar as it relates to legal matters, upon an Opinion of Counsel, unless such officer knows, or in the exercise of reasonable care should know, that the Opinion of Counsel with respect to the matters upon which his certificate or opinion is based is erroneous.  Any such Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company or a Guarantor, a governmental official or officers or any other Person or Persons, stating that the information with respect to such factual matters is in the possession of the Company unless counsel rendering the Opinion of Counsel knows, or in the exercise of reasonable care should know, that the certificate, opinion or representations with respect to such matters are erroneous.

 

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

 

  

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Section 104.   Acts of Holders.

 

(1) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by or pursuant to this Indenture to be made, given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing.  If, but only if, Securities of a series are issuable as Bearer Securities, any request, demand, authorization, direction, notice, consent, waiver or other action provided in or pursuant to this Indenture to be made, given or taken by Holders of Securities of such series may, alternatively, be embodied in and evidenced by the record of Holders of Securities of such series voting in favor thereof, either in person or by proxies duly appointed in writing, at any meeting of Holders of Securities of such series duly called and held in accordance with the provisions of Article Fifteen, or a combination of such instruments and any such record.  Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Company.  Such instrument or instruments and any such record (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments or so voting at any such meeting.  Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to Section 315 of the Trust Indenture Act) conclusive in favor of the Trustee and the Company and any agent of the Trustee or the Company, if made in the manner provided in this Section.  The record of any meeting of Holders of Securities shall be proved in the manner provided in Section 1506.

 

Without limiting the generality of this Section 104, unless otherwise provided in or pursuant to this Indenture, a Holder, including a Depository that is a Holder of a global Security, may make, give or take, by a proxy or proxies, duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other Act provided in or pursuant to this Indenture or the Securities to be made, given or taken by Holders, and a Depository that is a Holder of a global Security may provide its proxy or proxies to the beneficial owners of interests in any such global Security through such Depository’s standing instructions and customary practices.

 

(2) The fact and date of the execution by any Person of any such instrument or writing may be proved in any reasonable manner which the Trustee deems sufficient and in accordance with such reasonable rules as the Trustee may determine; and the Trustee may in any instance require further proof with respect to any of the matters referred to in this Section.

 

(3) The ownership, principal amount and serial numbers of Registered Securities held by any Person, and the date of the commencement and the date of the termination of holding the same, shall be proved by the Security Register.

 

  

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(4) The ownership, principal amount and serial numbers of Bearer Securities held by any Person, and the date of the commencement and the date of the termination of holding the same, may be proved by the production of such Bearer Securities or by a certificate executed, as depositary, by any trust company, bank, banker or other depositary reasonably acceptable to the Company, wherever situated, if such certificate shall be deemed by the Company and the Trustee to be satisfactory, showing that at the date therein mentioned such Person had on deposit with such depositary, or exhibited to it, the Bearer Securities therein described; or such facts may be proved by the certificate or affidavit of the Person holding such Bearer Securities, if such certificate or affidavit is deemed by the Company and the Trustee to be satisfactory.  The Trustee and the Company may assume that such ownership of any Bearer Security continues until (1) another certificate or affidavit bearing a later date issued in respect of the same Bearer Security is produced, or (2) such Bearer Security is produced to the Trustee by some other Person, or (3) such Bearer Security is surrendered in exchange for a Registered Security, or (4) such Bearer Security is no longer Outstanding.  The ownership, principal amount and serial numbers of Bearer Securities held by the Person so executing such instrument or writing and the date of the commencement and the date of the termination of holding the same may also be proved in any other manner which the Company and the Trustee deem sufficient.

 

(5) If the Company shall solicit from the Holders of any Registered Securities any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company may at its option (but is not obligated to), by Board Resolution, fix in advance a record date for the determination of Holders of Registered Securities entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act.  If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of Registered Securities of record at the close of business on such record date shall be deemed to be Holders for the purpose of determining whether Holders of the requisite proportion of Outstanding Securities have authorized, agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Securities shall be computed as of such record date; provided that no such authorization, agreement or consent by the Holders of Registered Securities 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.

 

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

 

Section 105.   Notices, etc. to Trustee and Company.

 

Any request, demand, authorization, direction, notice, consent, waiver or other Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with,

 

(1) the Trustee by any Holder or the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, or

 

  

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(2) the Company by the Trustee or any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to the attention of its ● at the address of its principal office specified in the first paragraph of this instrument or at any other address previously furnished in writing to the Trustee by the Company.

 

Section 106.   Notice to Holders of Securities; Waiver.

 

Except as otherwise expressly provided in or pursuant to this Indenture, where this Indenture provides for notice to Holders of Securities of any event,

 

(1) such notice shall be sufficiently given to Holders of Registered Securities if in writing and mailed, first-class postage prepaid, to each Holder of a Registered Security affected by such event, at his address as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice; and

 

(2) such notice shall be sufficiently given to Holders of Bearer Securities, if any, if published in an Authorized Newspaper in The City of New York and, if such Securities are then listed on any stock exchange outside the United States, in an Authorized Newspaper in such city as the Company shall advise the Trustee that such stock exchange so requires, on a Business Day at least twice, the first such publication to be not earlier than the earliest date and the second such publication not later than the latest date prescribed for the giving of such notice.

 

In any case where notice to Holders of Registered Securities is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder of a Registered Security shall affect the sufficiency of such notice with respect to other Holders of Registered Securities or the sufficiency of any notice to Holders of Bearer Securities given as provided herein.  Any notice which is mailed in the manner herein provided shall be conclusively presumed to have been duly given or provided.  In the case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

 

In case by reason of the suspension of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause it shall be impracticable to publish any notice to Holders of Bearer Securities as provided above, then such notification to Holders of Bearer Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to such Holders for every purpose hereunder.  Neither failure to give notice by publication to Holders of Bearer Securities as provided above, nor any defect in any notice so published, shall affect the sufficiency of any notice mailed to Holders of Registered Securities as provided above.

 

  

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

 

Section 107.  Language of Notices.

 

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

 

Section 108.  Conflict with Trust Indenture Act.

 

If any provision hereof limits, qualifies or conflicts with any duties under any required provision of the Trust Indenture Act imposed hereon by Section 318(c) thereof, such required provision shall control.

 

Section 109.  Effect of Headings and Table of Contents.

 

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

 

Section 110.  Successors and Assigns.

 

All covenants and agreements in this Indenture by the Company and any Guarantor shall bind its successors and assigns, whether so expressed or not.

 

Section 111.  Separability Clause.

 

In case any provision in this Indenture, any Security or any Coupon shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not, to the fullest extent permitted by law, in any way be affected or impaired thereby.

 

Section 112.  Benefits of Indenture.

 

Nothing in this Indenture, any Security or any Coupon, express or implied, shall give to any Person, other than the parties hereto, any Security Registrar, any Paying Agent and their successors hereunder and the Holders of Securities or Coupons, any benefit or any legal or equitable right, remedy or claim under this Indenture.

 

Section 113.   Governing Law.

 

This Indenture, the Securities, any Guarantees and any Coupons shall be governed by and construed in accordance with the laws of the State of New York without regard to conflicts of law principles of such State other than New York General Obligations Law Section 5-1401.

 

  

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Section 114.  Legal Holidays.

 

Unless otherwise specified in or pursuant to this Indenture or any Securities, in any case where any Interest Payment Date, Stated Maturity or Maturity of, or any other day on which a payment is due with respect to, any Security shall be a day which is not a Business Day in the The City of New York or at any Place of Payment, then payment need not be made, in the case such day is not a Business Day in The City of New York, or at such Place of Payment, in the case such day is not a Business Day at such Place of Payment, as the case may be, on such day, but such payment may be made on the next succeeding day that is a relevant Business Day with the same force and effect as if made on the Interest Payment Date, at the Stated Maturity or Maturity or on any such other payment date, as the case may be, and no interest shall accrue on the amount payable on such day or at such time for the period from and after such Interest Payment Date, Stated Maturity, Maturity or other payment date, as the case may be, to the next succeeding Business Day.

 

Section 115.  Counterparts.

 

This Indenture may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument.

 

Section 116.  Judgment Currency.

 

The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of, or premium or interest, if any, or Additional Amounts on the Securities of any series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the date on which a final unappealable judgment is given and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment (whether or not entered in accordance with clause (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture.  For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York or a day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to be closed. The provisions of this Section 116 shall not be applicable with respect to any payment due on a Security which is payable in Dollars.

 

  

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Section 117.  Extension of Payment Dates.

 

In the event that (i) the terms of any Security or Coupon appertaining thereto established in or pursuant to this Indenture permit the Company or any Holder thereof to extend the date on which any payment of principal of, or premium, if any, or interest, if any, on, or Additional Amounts, if any, with respect to such Security or Coupon is due and payable and (ii) the due date for any such payment shall have been so extended, then all references herein to the Stated Maturity of such payment (and all references of like import) shall be deemed to refer to the date as so extended.

 

Section 118.  Immunity of Stockholders, Directors, Officers and Agents of the Company.

 

No recourse under or upon any obligation, covenant or agreement contained in this Indenture, or in any Security, or because of any indebtedness evidenced thereby, shall be had against any past, present or future stockholder, employee, officer or director, as such, of the Company or of any of the Company’s predecessors or successors, either directly or through the Company or any predecessor or successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance of the Securities by the Holders and as part of the consideration for the issue of the Securities.

 

ARTICLE TWO

 

SECURITIES FORMS

 

Section 201.  Forms Generally.

 

Each Registered Security, Bearer Security, Coupon and temporary or permanent global Security issued pursuant to this Indenture shall be in the form established by or pursuant to a Board Resolution and set forth in an Officers’ Certificate, or established in one or more indentures supplemental hereto, shall have such appropriate insertions, omissions, substitutions and other variations as are required or permitted by or pursuant to this Indenture or any indenture supplemental hereto and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may, consistently herewith, be determined by the officer of the Company executing such Security or Coupon as evidenced by the execution of such Security or Coupon.

 

Unless otherwise provided in or pursuant to this Indenture or any Securities, the Securities shall be issuable in registered form without Coupons.

 

Definitive Securities and definitive Coupons shall be printed, lithographed or engraved or produced by any combination of these methods on a steel engraved border or steel engraved borders or may be produced in any other manner, all as determined by the officer of the Company executing such Securities or Coupons, as evidenced by the execution of such Securities or Coupons.

 

  

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Section 202.  Form of Trustee’s Certificate of Authentication.

 

Subject to Section 611, the Trustee’s certificate of authentication shall be in substantially the following form:

 

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

 

U.S. BANK NATIONAL ASSOCIATION,

  as Trustee

 

By: ______________________________________________

Authorized Signatory

 

 

Section 203.  Securities in Global Form.

 

Unless otherwise provided in or pursuant to this Indenture or any Securities, the Securities shall not be issuable in global form.  If Securities of a series shall be issuable in temporary or permanent global form, any such Security may provide that it or any principal amount of such Securities shall represent the aggregate amount of all Outstanding Securities of such series (or such lesser principal amount as is permitted by the terms thereof) from time to time endorsed thereon or reflected on the books and records of the Trustee and may also provide that the aggregate principal amount of Outstanding Securities represented thereby may from time to time be increased or reduced to reflect exchanges.  Any endorsement of any Security in global form to reflect the principal amount, or any increase or decrease in the principal amount, or changes in the rights of Holders, of Outstanding Securities represented thereby shall be made in such manner and by such Person or Persons as shall be specified therein or pursuant to Section 301 with respect to such Security or in the Company Order to be delivered pursuant to Section 303 or 304 with respect thereto.  Subject to the provisions of Section 303 and, if applicable, Section 304, the Trustee shall deliver and redeliver any Security in global form in the manner and upon instructions given by the Person or Persons specified therein or pursuant to Section 301 with respect to such Security or in the applicable Company Order.  If a Company Order pursuant to Section 303 or 304 has been, or simultaneously is, delivered, any instructions by the Company with respect to a Security in global form shall be in writing but need not be accompanied by or contained in an Officers’ Certificate and need not be accompanied by an Opinion of Counsel.  Notwithstanding the foregoing provisions of this paragraph, in the event a global Security is exchangeable for definitive Securities as provided in Section 305, then, unless otherwise provided in or pursuant to this Indenture with respect to the Securities of such series, the Trustee shall deliver and redeliver such global Security to the extent necessary to effect such exchanges, shall endorse such global Security to reflect any decrease in the principal amount thereto resulting from such exchanges and shall take such other actions, all as contemplated by Section 305.

 

  

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Notwithstanding the provisions of Section 307, unless otherwise specified in or pursuant to this Indenture or any Securities, payment of principal of, any premium and interest on, and any Additional Amounts in respect of any Security in temporary or permanent global form shall be made to the Person or Persons specified therein.

 

Notwithstanding the provisions of Section 308 and except as provided in the preceding paragraph, the Company, the Trustee and any agent of the Company and the Trustee shall treat as the Holder of the principal amount of Outstanding Securities represented by a global Security (i) in the case of a global Security in registered form, the Holder of such global Security in registered form, or (ii) in the case of a global Security in bearer form, the Person or Persons specified pursuant to Section 301.

 

ARTICLE THREE

 

THE SECURITIES

 

Section 301.  Amount Unlimited; Issuable in Series.

 

The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in one or more series.

 

With respect to any Securities to be authenticated and delivered hereunder, there shall be established in or pursuant to one or more Board Resolutions and set forth in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of any Securities of a series,

 

(1) the title of the Securities of such series;

 

(2) any limit upon the aggregate principal amount of the Securities of such series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of such series pursuant to Section 304, 305, 306, 905 or 1107, upon repayment in part of any Security of such series pursuant to Article Thirteen or upon surrender in part of any Security for conversion or exchange into Common Stock or other securities or property pursuant to its terms);

 

(3)  if such Securities are to be issuable as Registered Securities, as Bearer Securities or alternatively as Bearer Securities and Registered Securities, and whether the Bearer Securities are to be issuable with Coupons, without Coupons or both, and any restrictions applicable to the offer, sale or delivery of the Bearer Securities and the terms, if any, upon which Bearer Securities may be exchanged for Registered Securities and vice versa;

 

(4) if any of such Securities are to be issuable in global form, when any of such Securities are to be issuable in global form and (i) whether such Securities are to be issued in temporary or permanent global form or both, (ii) whether beneficial owners of interests in any such global Security may exchange such interests for Securities of the same series and of like tenor and of any authorized form and denomination, and the circumstances under which any such exchanges may occur, if other than in the manner specified in Section 305, (iii) the name of the Depository with respect to any such global Security and (iv) if applicable and in addition to the Persons specified in Section 305, the Person or Persons who shall be entitled to make any endorsements on any such global Security and to give the instructions and take the other actions with respect to such global Security contemplated by the first paragraph of Section 203;

 

  

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(5) if any of such Securities are to be issuable as Bearer Securities, the date as of which any such Bearer Security shall be dated (if other than the date of original issuance of the first of such Securities to be issued);

 

(6) if any of such Securities are to be issuable as Bearer Securities, whether interest in respect of any portion of a temporary Bearer Security in global form payable in respect of an Interest Payment Date therefor prior to the exchange, if any, of such temporary Bearer Security for definitive Securities shall be paid to any clearing organization with respect to the portion of such temporary Bearer Security held for its account and, in such event, the terms and conditions (including any certification requirements) upon which any such interest payment received by a clearing organization will be credited to the Persons entitled to interest payable on such Interest Payment Date;

 

(7) the date or dates, or the method or methods, if any, by which such date or dates shall be determined, on which the principal and premium, if any, of such Securities is payable;

 

(8) the rate or rates at which such Securities shall bear interest, if any, or the method or methods, if any, by which such rate or rates are to be determined, the date or dates, if any, from which such interest shall accrue or the method or methods, if any, by which such date or dates are to be determined, the Interest Payment Dates, if any, on which such interest shall be payable and the Regular Record Date, if any, for the interest payable on Registered Securities on any Interest Payment Date, the notice, if any, to Holders regarding the determination of interest on a floating rate Security and the manner of giving such notice, and the basis upon which interest shall be calculated if other than that of a 360-day year of twelve 30-day months;

 

(9) whether Securities of the series are entitled to any benefits of any Guarantee of any Guarantor pursuant to this Indenture;

 

(10) if in addition to or other than the Borough of Manhattan, The City of New York, the place or places where the principal of, any premium and interest on or any Additional Amounts with respect to such Securities shall be payable, any of such Securities that are Registered Securities may be surrendered for registration of transfer or exchange, any of such Securities may be surrendered for conversion or exchange and notices or demands to or upon the Company in respect of such Securities and this Indenture may be served;

 

(11) whether any of such Securities are to be redeemable at the option of the Company and, if so, the date or dates on which, the period or periods within which, the price or prices at which and the other terms and conditions upon which such Securities may be redeemed, in whole or in part, at the option of the Company;

 

  

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(12) if the Company is obligated to redeem or purchase any of such Securities pursuant to any sinking fund or analogous provision or at the option of any Holder thereof and, if so, the date or dates on which, the period or periods within which, the price or prices at which and the other terms and conditions upon which such Securities shall be redeemed or purchased, in whole or in part, pursuant to such obligation, and any provisions for the remarketing of such Securities so redeemed or purchased;

 

(13) the denominations in which any of such Securities that are Registered Securities shall be issuable if other than denominations of $2,000 and any integral multiple of $1,000 in excess thereof, and the denominations in which any of such Securities that are Bearer Securities shall be issuable if other than the denomination of $5,000;

 

(14) whether such Securities will be convertible into and/or exchangeable for Common Stock or other securities or property, and if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, and any deletions from or modifications or additions to this Indenture to permit or to facilitate the issuance of such convertible or exchangeable Securities or the administration thereof;

 

(15) if other than the principal amount thereof, the portion of the principal amount of any of such Securities that shall be payable upon acceleration of the Maturity thereof pursuant to Section 502 or the method by which such portion is to be determined;

 

(16) if other than Dollars, the Foreign Currency in which purchases of such Securities must be made and the Foreign Currency in which payment of the principal of, any premium or interest on or any Additional Amounts with respect to any of such Securities shall be payable;

 

(17) if the principal of, any premium or interest on or any Additional Amounts with respect to any of such Securities are to be payable, at the election of the Company or a Holder thereof or otherwise, in a Currency other than that in which such Securities are stated to be payable, the date or dates on which, the period or periods within which, and the other terms and conditions upon which, such election may be made, and the time and manner of determining the exchange rate between the Currency in which such Securities are stated to be payable and the Currency in which such Securities or any of them are to be paid pursuant to such election, and any deletions from or modifications of or additions to the terms of this Indenture to provide for or to facilitate the issuance of Securities denominated or payable, at the election of the Company or a Holder thereof or otherwise, in a Foreign Currency;

 

(18) if the amount of payments of principal of, any premium or interest on or any Additional Amounts with respect to such Securities may be determined with reference to an index, formula or other method or methods (which index, formula or method or methods may be based, without limitation, on one or more Currencies, commodities, equity indices or other indices), and, if so, the terms and conditions upon which and the manner in which such amounts shall be determined and paid or payable;

 

  

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(19) any deletions from, modifications of or additions to the Events of Default or covenants of the Company with respect to any of such Securities (whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set forth herein), and if Section 1010 shall be inapplicable with respect to any such additional covenants;

 

(20) if any one or more of Section 401 relating to satisfaction and discharge,  Section 402(2) relating to defeasance or Section 402(3) relating to covenant defeasance shall not be applicable to such Securities, and any covenants in addition to or other than those specified in Section 402(3) relating to such Securities which shall be subject to covenant defeasance, and, if such Securities are subject to repurchase or repayment at the option of the Holders thereof pursuant to Article Thirteen, if the Company’s obligation to repurchase or repay such Securities will be subject to satisfaction and discharge pursuant to Section 401 or to defeasance or covenant defeasance pursuant to Section 402, and, if the Holders of such Securities have the right to convert or exchange such Securities into Common Stock or other securities or property, if the right to effect such conversion or exchange will be subject to satisfaction and discharge pursuant to Section 401 or to defeasance or covenant defeasance pursuant to Section 402, and any deletions from, or modifications or additions to, the provisions of Article Four (including any modification which would permit satisfaction and discharge, defeasance or covenant defeasance to be effected with respect to less than all of the outstanding Securities of such series) in respect of such Securities;

 

(21) if any of such Securities are to be issuable upon the exercise of warrants, and the time, manner and place for such Securities to be authenticated and delivered;

 

(22) if any of such Securities are issuable in global form and are to be issuable in definitive form (whether upon original issue or upon exchange of a temporary Security) only upon receipt of certain certificates or other documents or satisfaction of other conditions, then the form and terms of such certificates, documents or conditions;

 

(23) whether and under what circumstances the Company will pay Additional Amounts on such Securities to any holder who is a United States Alien in respect of any tax, assessment or other government charge and, if so, whether the Company will have the option to redeem such Securities rather than pay such Additional Amounts;

 

(24) if there is more than one Trustee, the identity of the Trustee and, if not the Trustee, the identity of each Security Registrar, Paying Agent or Authenticating Agent with respect to such Securities;

 

  

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(25) the Person to whom any interest on any Registered Security of such series shall be payable, if other than the Person in whose name such Registered Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, the manner in which, or the Person to whom, any interest on any Bearer Security of such series shall be payable, if other than upon presentation and surrender of the Coupons appertaining thereto as they severally mature, and the extent to which, or the manner in which, any interest payable on a temporary global Security will be paid if other than in the manner provided in this Indenture; and

 

(26) any other terms of such Securities and any deletions from or modifications or additions to this Indenture in respect of such Securities.

 

All Securities of any one series and all Coupons, if any, appertaining to Bearer Securities of such series shall be substantially identical except as to Currency of payments due thereunder, denomination and the rate of interest, or method of determining the rate of interest, if any, Maturity, and the date from which interest, if any, shall accrue and except as may otherwise be provided by the Company in or pursuant to the Board Resolution and set forth in the Officers’ Certificate or in any indenture or indentures supplemental hereto pertaining to such series of Securities.  The terms of the Securities of any series may provide, without limitation, that the Securities shall be authenticated and delivered by the Trustee on original issue from time to time upon telephonic or written order of persons designated in the Board Resolution, Officers’ Certificate or supplemental indenture, as the case may be, pertaining to such series of Securities (telephonic instructions to be promptly confirmed in writing by such person) and that such persons are authorized to determine, consistent with such Board Resolution, Officers’ Certificate or supplemental indenture, such terms and conditions of the Securities of such series as are specified in such Board Resolution, Officers’ Certificate or supplemental indenture.

 

All Securities of any one series need not be issued at the same time and, unless otherwise provided by the Company as contemplated by this Section 301, a series may be reopened from time to time without the consent of any Holders for issuances of additional Securities of such series or to establish additional terms of such series of Securities.

 

 If any of the terms of the Securities of any series shall be established by action taken by or pursuant to a Board Resolution, the Board Resolution shall be delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of such series.

 

Section 302.  Currency; Denominations.

 

Unless otherwise provided in or pursuant to this Indenture, the principal of, any premium and interest on and any Additional Amounts with respect to the Securities shall be payable in Dollars.  Unless otherwise provided in or pursuant to this Indenture, Registered Securities denominated in Dollars shall be issuable in registered form without Coupons in denominations of $2,000 and any integral multiple of $1,000 in excess thereof, and the Bearer Securities denominated in Dollars shall be issuable in denominations of $5,000.  Securities not denominated in Dollars shall be issuable in such denominations as are established with respect to such Securities in or pursuant to this Indenture.

 

  

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Section 303.  Execution, Authentication, Delivery and Dating.

 

Securities shall be executed on behalf of the Company by its Chairman, its President or one of its Vice Presidents and by its Treasurer, one of its Assistant Treasurers, its Secretary or one of its Assistant Secretaries and may (but need not) have its corporate seal or a facsimile thereof reproduced thereon.  Coupons shall be executed on behalf of the Company by the Chairman, the President or any Vice President of the Company.  The signature of any of these officers on the Securities or any Coupons appertaining thereto may be manual or facsimile.

 

The notation of the Guarantee endorsed on any Securities shall be executed on behalf of the Guarantor by its Chairman, its President or one of its Vice Presidents and by its Treasurer, one of its Assistant Treasurers, its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Guarantee may be manual or facsimile.

 

Securities and any Coupons appertaining thereto and Guarantees bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company or any applicable Guarantor shall, to the fullest extent permitted by law, bind the Company and such Guarantor, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities or Coupons or Guarantees.

 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities, together with any Coupons appertaining thereto, executed by the Company, to the Trustee for authentication and, provided that the Board Resolution and Officers’ Certificate or supplemental indenture or indentures with respect to such Securities referred to in Section 301 and a Company Order for the authentication and delivery of such Securities have been delivered to the Trustee, the Trustee in accordance with the Company Order and subject to the provisions hereof and of such Securities shall authenticate and deliver such Securities.  In authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities and any Coupons appertaining thereto, the Trustee shall be entitled to receive, and (subject to Sections 315(a) through 315(d) of the Trust Indenture Act) shall be fully protected in relying upon, an Opinion of Counsel to the following effect, which Opinion of Counsel may contain such assumptions, qualifications and limitations as such counsel shall deem appropriate:

 

(a) the form or forms and terms of such Securities and Coupons, if any, have been established in conformity with Sections 201 and 301 of this Indenture;

 

(b) all conditions precedent set forth in Sections 201, 301 and 303 of this Indenture to the authentication and delivery of such Securities and Coupons, if any, appertaining thereto have been complied with and that such Securities, and Coupons, when completed by appropriate insertions (if applicable), executed by duly authorized officers of the Company, delivered by duly authorized officers of the Company to the Trustee for authentication pursuant to this Indenture, and authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, and, if applicable, any Guarantees will constitute valid and binding obligations of each Guarantor, except, in each case, as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, receivership, moratorium or other similar laws relating to or affecting creditors’ rights generally or by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law).

 

  

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If all the Securities of any series are not to be issued at one time, it shall not be necessary to deliver an Opinion of Counsel at the time of issuance of each Security, but such opinion, with such modifications as counsel shall deem appropriate, shall be delivered at or before the time of issuance of the first Security of such series.  After any such first delivery, any separate request by the Company that the Trustee authenticate Securities of such series for original issue will be deemed to be a certification by the Company that all conditions precedent provided for in this Indenture relating to authentication and delivery of such Securities continue to have been complied with.

 

The Trustee shall not be required to authenticate or to cause an Authenticating Agent to authenticate any Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee or if the Trustee, being advised by counsel, determines that such action may not lawfully be taken.

 

Each Registered Security shall be dated the date of its authentication.  Each Bearer Security and any Bearer Security in global form shall be dated as of the date specified in or pursuant to this Indenture.

 

No Security or Guarantee thereof or Coupon appertaining thereto shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Security a certificate of authentication substantially in the form provided for in Section 202 or 611 executed by or on behalf of the Trustee or by the Authenticating Agent by the manual signature of one of its authorized signatories.  Such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder.  Except as permitted by Section 306 or 307 or as may otherwise be provided in or pursuant to this Indenture, the Trustee shall not authenticate and deliver any Bearer Security unless all Coupons appertaining thereto then matured have been detached and cancelled.

 

Section 304.  Temporary Securities.

 

Pending the preparation of definitive Securities, the Company may execute and deliver to the Trustee and, upon Company Order, the Trustee shall authenticate and deliver, in the manner provided in Section 303, temporary Securities in lieu thereof which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued, in registered form or, if authorized in or pursuant to this Indenture, in bearer form with one or more Coupons or without Coupons and with such appropriate insertions, omissions, substitutions and other variations as the officers of the Company executing such Securities may determine, as conclusively evidenced by their execution of such Securities.  Such temporary Securities may be in global form.

 

  

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Except in the case of temporary Securities in global form, which shall be exchanged in accordance with the provisions set forth in this Indenture or the provisions established pursuant to Section 301, if temporary Securities are issued, the Company shall cause definitive Securities to be prepared without unreasonable delay.  Except as otherwise provided in or pursuant to this Indenture, after the preparation of definitive Securities of the same series and containing terms and provisions that are identical to those of any temporary Securities, such temporary Securities shall be exchangeable for such definitive Securities upon surrender of such temporary Securities at an Office or Agency for such Securities, without charge to any Holder thereof.  Except as otherwise provided in or pursuant to this Indenture, upon surrender for cancellation of any one or more temporary Securities (accompanied by any unmatured Coupons appertaining thereto), the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of authorized denominations of the same series and containing identical terms and provisions; provided, however, that no definitive Bearer Security, except as provided in or pursuant to this Indenture, shall be delivered in exchange for a temporary Registered Security; and provided, further, that a definitive Bearer Security shall be delivered in exchange for a temporary Bearer Security only in compliance with the conditions set forth in or pursuant to this Indenture.  Unless otherwise provided in or pursuant to this Indenture with respect to a temporary global Security, until so exchanged the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series.

 

Section 305.  Registration, Transfer and Exchange.

 

With respect to the Registered Securities of each series, if any, the Company shall cause to be kept a register (each such register being herein sometimes referred to as the “Security Register”) at an Office or Agency for such series in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of the Registered Securities of such series and of transfers of the Registered Securities of such series.  Such Office or Agency shall be the “Security Registrar” for that series of Securities.  Unless otherwise specified in or pursuant to this Indenture or the Securities, the initial Security Registrar for each series of Securities shall be as specified in the last paragraph of Section 1002.  The Company shall have the right to remove and replace from time to time the Security Registrar for any series of Securities; provided that no such removal or replacement shall be effective until a successor Security Registrar with respect to such series of Securities shall have been appointed by the Company and shall have accepted such appointment.  In the event that the Trustee shall not be or shall cease to be Security Registrar with respect to a series of Securities, it shall have the right to examine the Security Register for such series at all reasonable times.  There shall be only one Security Register for each series of Securities.

 

Except as otherwise provided in or pursuant to this Indenture, upon surrender for registration of transfer of any Registered Security of any series at any Office or Agency for such series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Registered Securities of the same series denominated as authorized in or pursuant to this Indenture, of a like aggregate principal amount bearing a number not contemporaneously outstanding and containing identical terms and provisions and, if applicable, having the notation of the Guarantee of each applicable Guarantor endorsed thereon.

 

  

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Except as otherwise provided in or pursuant to this Indenture, at the option of the Holder, Registered Securities of any series may be exchanged for other Registered Securities of the same series containing identical terms and provisions, in any authorized denominations, and of a like aggregate principal amount, upon surrender of the Securities to be exchanged at any Office or Agency for such series.  Whenever any Registered Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Registered Securities which the Holder making the exchange is entitled to receive together with, if applicable, the notation of the Guarantee of each applicable Guarantor endorsed thereon .

 

If provided in or pursuant to this Indenture, with respect to Securities of any series, at the option of the Holder, Bearer Securities of such series may be exchanged for Registered Securities of such series containing identical terms, denominated as authorized in or pursuant to this Indenture and in the same aggregate principal amount, upon surrender of the Bearer Securities to be exchanged at any Office or Agency for such series, with all unmatured Coupons and all matured Coupons in default thereto appertaining.  If the Holder of a Bearer Security is unable to produce any such unmatured Coupon or Coupons or matured Coupon or Coupons in default, such exchange may be effected if the Bearer Securities are accompanied by payment in funds acceptable to the Company and the Trustee in an amount equal to the face amount of such missing Coupon or Coupons, or the surrender of such missing Coupon or Coupons may be waived by the Company and the Trustee if there is furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless.  If thereafter the Holder of such Bearer Security shall surrender to any Paying Agent any such missing Coupon in respect of which such a payment shall have been made, such Holder shall be entitled to receive the amount of such payment; provided, however, that, except as otherwise provided in Section 1002, interest represented by Coupons shall be payable only upon presentation and surrender of those Coupons at an Office or Agency for such series located outside the United States.  Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at any such Office or Agency for such series in exchange for a Registered Security of such series and like tenor after the close of business at such Office or Agency on (i) any Regular Record Date and before the opening of business at such Office or Agency on the relevant Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such Office or Agency on the related date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the Coupon relating to such Interest Payment Date or proposed date of payment, as the case may be (or, if such Coupon is so surrendered with such Bearer Security, such Coupon shall be returned to the Person so surrendering the Bearer Security), and interest or Defaulted Interest, as the case may be, shall not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of the Registered Security issued in exchange for such Bearer Security, but shall be payable only to the Holder of such Coupon when due in accordance with the provisions of this Indenture.

 

If provided in or pursuant to this Indenture with respect to Securities of any series, at the option of the Holder, Registered Securities of such series may be exchanged for Bearer Securities upon such terms and conditions as may be provided in or pursuant to this Indenture with respect to such series.

 

Whenever any Securities are surrendered for exchange as contemplated by the immediately preceding two paragraphs, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive together with, if applicable, the notation of the Guarantee of each applicable Guarantor endorsed thereon.

 

  

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Notwithstanding the foregoing, except as otherwise provided in or pursuant to this Indenture, the global Securities of any series shall be exchangeable for definitive certificated Securities of such series only if (i) the Depository for such global Securities notifies the Company that it is unwilling or unable to continue as a Depository for such global Securities or at any time the Depository for such global Securities ceases to be a clearing agency registered as such under the Exchange Act, if so required by applicable law or regulation, and no successor Depository for such Securities shall have been appointed by the Company within 90 days of such notification or of the Company becoming aware of the Depository’s ceasing to be so registered, as the case may be, (ii) the Company, in its sole discretion, determines that the Securities of such series shall no longer be represented by one or more global Securities and executes and delivers to the Trustee a Company Order to the effect that such global Securities shall be so exchangeable, or (iii) an Event of Default has occurred and is continuing with respect to such Securities.

 

If the beneficial owners of interests in a global Security are entitled to exchange such interests for definitive Securities as the result of an event described in clause (i), (ii) or (iii) of the preceding paragraph, then without unnecessary delay but in any event not later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee definitive Securities in such form and denominations as are required by or pursuant to this Indenture, and of the same series, containing identical terms and in aggregate principal amount equal to the principal amount of such global Security, executed by the Company.  On or after the earliest date on which such interests may be so exchanged, such global Security shall be surrendered from time to time by the Depository (or its custodian) as shall be specified in the Company Order with respect thereto (which the Company agrees to deliver), and in accordance with instructions given to the Trustee and the Depository (which instructions shall be in writing but need not be contained in or accompanied by an Officers’ Certificate or be accompanied by an Opinion of Counsel), as shall be specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such purpose, to be exchanged, in whole or in part, for definitive Securities as described above without charge.  The Trustee shall authenticate and make available for delivery, in exchange for each portion of such surrendered global Security, a like aggregate principal amount of definitive Securities of the same series of authorized denominations and of like tenor as the portion of such global Security to be exchanged, which (unless such Securities are not issuable both as Bearer Securities and as Registered Securities, in which case the definitive Securities exchanged for the global Security shall be issuable only in the form in which the Securities are issuable, as provided in or pursuant to this Indenture) shall be in the form of Bearer Securities or Registered Securities, or any combination thereof, and which shall be in such denominations and, in the case of Registered Securities, registered in such names, as shall be specified by the Depository, but subject to the satisfaction of any certification or other requirements to the issuance of Bearer Securities; provided, however, that no such exchanges may occur during a period beginning at the opening of business 15 days before any selection of Securities of the same series to be redeemed and ending on the relevant Redemption Date; and provided, further, that (unless otherwise provided in or pursuant to this Indenture) no Bearer Security delivered in exchange for a portion of a global Security shall be mailed or otherwise delivered to any location in the United States.  Promptly following any such exchange in part, such global Security shall be returned by the Trustee to such Depository (or its custodian) or such other Depository (or its custodian) referred to above in accordance with the instructions of the Company referred to above, and the Trustee shall endorse such global Security to reflect the decrease in the principal amount thereof resulting from such exchange.  If a Registered Security is issued in exchange for any portion of a global Security after the close of business at the Office or Agency for such Security where such exchange occurs on or after (i) any Regular Record Date for such Security and before the opening of business at such Office or Agency on the next Interest Payment Date, or (ii) any Special Record Date for such Security and before the opening of business at such Office or Agency on the related proposed date for payment of interest or Defaulted Interest, as the case may be, interest shall not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of such Registered Security, but shall be payable on such Interest Payment Date or proposed date for payment, as the case may be, only to the Person to whom interest in respect of such portion of such global Security shall be payable in accordance with the provisions of this Indenture.

 

  

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All Securities and each Guarantee, if any, the notation of which is endorsed thereon issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company and each applicable Guarantor evidencing the same debt and entitling the Holders thereof to the same benefits under this Indenture as the Securities surrendered upon such registration of transfer or exchange.

 

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

 

No service charge shall be made for any registration of transfer or exchange of Securities, or any redemption or repayment of Securities, or any conversion or exchange of Securities for other types of securities or property, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304, 905 or 1107, upon repayment or repurchase in part of any Registered Security pursuant to Article Thirteen, or upon surrender in part of any Registered Security for conversion or exchange into Common Stock or other securities or property pursuant to its terms, in each case not involving any transfer.

 

Except as otherwise provided in or pursuant to this Indenture, the Company shall not be required (i) to issue, register the transfer of or exchange any Securities during a period beginning at the opening of business 15 days before the day of the selection for redemption of Securities of like tenor and terms and of the same series under Section 1103 and ending at the close of business on the day of such selection, or (ii) to register the transfer of or exchange any Registered Security, or portion thereof, so selected for redemption, except in the case of any Registered Security to be redeemed in part, the portion thereof not to be redeemed, or (iii) to exchange any Bearer Security so selected for redemption except, to the extent provided with respect to such Bearer Security, that such Bearer Security may be exchanged for a Registered Security of like tenor and terms and of the same series, provided that such Registered Security shall be simultaneously surrendered for redemption with written instruction for payment consistent with the provisions of this Indenture or (iv) to issue, register the transfer of or exchange any Security which, in accordance with its terms, has been surrendered for repayment at the option of the Holder pursuant to Article Thirteen and not withdrawn, except the portion, if any, of such Security not to be so repaid.

 

  

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Section 306. Mutilated, Destroyed, Lost and Stolen Securities.

 

If any mutilated Security or a Security with a mutilated Coupon appertaining to it is surrendered to the Trustee, subject to the provisions of this Section 306, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series containing identical terms and of like principal amount and bearing a number not contemporaneously outstanding, having endorsed thereon a notation of the Guarantee executed by each applicable Guarantor, if any, and with Coupons appertaining thereto corresponding to the Coupons, if any, appertaining to the surrendered Security.

 

If there be delivered to the Company and to the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security or Coupon, and (ii) such security or indemnity as may be reasonably required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security or Coupon has been acquired by a bona fide purchaser, the Company shall execute and, upon the Company’s request the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Security or in exchange for the Security to which a destroyed, lost or stolen Coupon appertains with all appurtenant Coupons not destroyed, lost or stolen, a new Security of the same series containing identical terms and of like principal amount and bearing a number not contemporaneously outstanding, having endorsed thereon a notation of the Guarantee executed by each applicable Guarantor, if any, and with Coupons corresponding to the Coupons, if any, appertaining to such destroyed, lost or stolen Security or to the Security to which such destroyed, lost or stolen Coupon appertains.

 

Notwithstanding the foregoing provisions of this Section 306, in case any mutilated, destroyed, lost or stolen Security or Coupon has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security or Coupon; provided, however, that payment of principal of, any premium or interest on or any Additional Amounts with respect to any Bearer Securities shall, except as otherwise provided in Section 1002, be payable only at an Office or Agency for such Securities located outside the United States and, unless otherwise provided in or pursuant to this Indenture, any interest on Bearer Securities and any Additional Amounts with respect to such interest shall be payable only upon presentation and surrender of the Coupons appertaining thereto.

 

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

 

  

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Every new Security, together with each Guarantee, if any the notation of which is endorsed thereon and any Coupons appertaining thereto issued pursuant to this Section in lieu of any destroyed, lost or stolen Security, or in exchange for a Security to which a destroyed, lost or stolen Coupon appertains shall constitute a separate obligation of the Company and each applicable Guarantor, whether or not the destroyed, lost or stolen Security and Coupons appertaining thereto or the destroyed, lost or stolen Coupon shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of such series and any Coupons, if any, duly issued hereunder.

 

The provisions of this Section, as amended or supplemented pursuant to this Indenture with respect to particular Securities or generally, shall (to the extent lawful) be exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or Coupons.

 

Section 307. Payment of Interest and Certain Additional Amounts; Rights to Interest and Certain Additional Amounts Preserved.

 

Unless otherwise provided in or pursuant to this Indenture, any interest on and any Additional Amounts with respect to any Registered Security which shall be payable, and are punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor Securities) is registered as of the close of business on the Regular Record Date for such interest.  Unless otherwise provided in or pursuant to this Indenture, in case a Bearer Security is surrendered in exchange for a Registered Security after the close of business at an Office or Agency for such Security on any Regular Record Date therefor and before the opening of business at such Office or Agency on the next succeeding Interest Payment Date therefor, such Bearer Security shall be surrendered without the Coupon relating to such Interest Payment Date and interest shall not be payable on such Interest Payment Date in respect of the Registered Security issued in exchange for such Bearer Security, but shall be payable only to the Holder of such Coupon when due in accordance with the provisions of this Indenture.

 

Unless otherwise provided in or pursuant to this Indenture, any interest on and any Additional Amounts with respect to any Registered Security which shall be payable, but shall not be punctually paid or duly provided for, on any Interest Payment Date for such Registered Security (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder thereof on the relevant Regular Record Date by virtue of having been such Holder; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or (2) below:

 

  

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(1) The Company may elect to make payment of any Defaulted Interest to the Person in whose name such Registered Security (or a Predecessor Security thereof) shall be 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 such Registered Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when so deposited to be held in trust for the benefit of the Person entitled to such Defaulted Interest as in this clause provided.  Thereupon, the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to the Holder of such Registered Security (or a Predecessor Security thereof) at his address as it appears in the Security Register not less than 10 days prior to such Special Record Date.  The Trustee may, in its discretion, in the name and at the expense of the Company cause a similar notice to be published at least once in an Authorized Newspaper of general circulation in the Borough of Manhattan, The City of New York, but such publication shall not be a condition precedent to the establishment of 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 Person in whose name such Registered Security (or a Predecessor Security thereof) shall be registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2).  In case a Bearer Security is surrendered at the Office or Agency for such Security in exchange for a Registered Security after the close of business at such Office or Agency on any Special Record Date and before the opening of business at such Office or Agency on the related proposed date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the Coupon relating to such Defaulted Interest and Defaulted Interest shall not be payable on such proposed date of payment in respect of the Registered Security issued in exchange for such Bearer Security, but shall be payable only to the Holder of such Coupon when due in accordance with the provisions of this Indenture; and

 

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

 

Unless otherwise provided in or pursuant to this Indenture or the Securities of any particular series, at the option of the Company, interest on Registered Securities on any Interest Payment Date may be paid by mailing a check to the address of the Person entitled thereto as such address shall appear in the Security Register or by transfer to an account maintained by the payee with a bank located in the United States of America.

 

Subject to the foregoing provisions of this Section and Section 305, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.

 

  

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Section 308.  Persons Deemed Owners.

 

Prior to due presentment of a Registered Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Registered Security is registered in the Security Register as the owner of such Registered Security for the purpose of receiving payment of principal of, any premium and (subject to Sections 305 and 307) interest on and any Additional Amounts with respect to such Registered Security and for all other purposes whatsoever, whether or not any payment with respect to such Registered Security shall be overdue, and neither the Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary.

 

The Company, the Trustee and any agent of the Company or the Trustee may treat the bearer of any Bearer Security or the bearer of any Coupon as the absolute owner of such Security or Coupon for the purpose of receiving payment thereof or on account thereof and for all other purposes whatsoever, whether or not any payment with respect to such Security or Coupon shall be overdue, and neither the Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary.

 

No owner of any beneficial interest in any global Security held on its behalf by a Depository shall have any rights under this Indenture with respect to such global Security, and such Depository may be treated by the Company, the Trustee, and any agent of the Company or the Trustee as the owner of such global Security for all purposes whatsoever. None of the Company, the Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests.

 

Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee, any Paying Agent or the Security Registrar from giving effect to any written certification, proxy or other authorization furnished by the applicable Depository, as a Holder, with respect to a global Security or impair, as between such Depository and the owners of beneficial interests in such global Security, the operation of customary practices governing the exercise of the rights of such Depository (or its nominee) as the Holder of such global Security.

 

Section 309.  Cancellation.

 

All Securities and Coupons surrendered for payment, redemption, registration of transfer, exchange or conversion or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and Coupons, as well as Securities and Coupons surrendered directly to the Trustee for any such purpose, shall be cancelled promptly by the Trustee.  The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be cancelled promptly by the Trustee.  No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by or pursuant to this Indenture.  All cancelled Securities and Coupons held by the Trustee shall be destroyed by the Trustee, unless by a Company Order the Company directs their return to it.

 

  

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Section 310.  Computation of Interest.

 

Except as otherwise provided in or pursuant to this Indenture or in the Securities of any series, interest on the Securities shall be computed on the basis of a 360-day year of twelve 30-day months.

 

ARTICLE FOUR

 

SATISFACTION AND DISCHARGE OF INDENTURE

 

Section 401.  Satisfaction and Discharge.

 

Unless, pursuant to Section 301, the provisions of this Section 401 shall not be applicable with respect to the Securities of any series, upon the direction of the Company by a Company Order, this Indenture shall cease to be of further effect with respect to any series of Securities specified in such Company Order, any Guarantees thereon and any Coupons appertaining thereto, and the Trustee, on receipt of a Company Order, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture as to such series, when

 

(1) either

 

(a) all Securities of such series theretofore authenticated and delivered and all Coupons appertaining thereto (other than (i) Coupons appertaining to Bearer Securities of such series surrendered in exchange for Registered Securities of such series and maturing after such exchange whose surrender is not required or has been waived as provided in Section 305, (ii) Securities and Coupons of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 306, (iii) Coupons appertaining to Securities of such series called for redemption and maturing after the relevant Redemption Date whose surrender has been waived as provided in Section 1106, and (iv) Securities and Coupons of such series for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or

 

(b) all Securities of such series and, in the case of (i) or (ii) below, if applicable, any Coupons appertaining thereto not theretofore delivered to the Trustee for cancellation

 

(i) have become due and payable, or

 

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

 

  

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

 

and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for such purpose, money in the Currency in which such Securities are payable in an amount sufficient to pay and discharge the entire indebtedness on such Securities and any Coupons appertaining thereto not theretofore delivered to the Trustee for cancellation, including the principal of, any premium and interest on, and, to the extent that the Securities of such series provide for the payment of Additional Amounts thereon and the amount of any such Additional Amounts which are or will be payable with respect to the Securities of such series is at the time of deposit determinable by the Company (in the exercise by the Company of its reasonable discretion), any Additional Amounts with respect to, such Securities and any Coupons appertaining thereto, to the date of such deposit (in the case of Securities which have become due and payable) or to the Maturity thereof, as the case may be;

 

(2) the Company has paid or caused to be paid all other sums payable hereunder by the Company with respect to the Outstanding Securities of such series and any Coupons appertaining thereto; and

 

(3) the Company has delivered to the Trustee 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 as to such series have been complied with.

 

In the event there are Securities of two or more series Outstanding hereunder, the Trustee shall be required to execute an instrument acknowledging satisfaction and discharge of this Indenture only if requested to do so with respect to Securities of such series as to which it is Trustee and if the other conditions thereto are met.

 

Notwithstanding the satisfaction and discharge of this Indenture with respect to any series of Securities, the obligations of the Company to the Trustee under Section 606 and, if money shall have been deposited with the Trustee pursuant to subclause (b) of clause (1) of this Section, the obligations of the Company and the Trustee with respect to the Securities of such series under Sections 305, 306, 403, 404, 1002, 1003 and, if applicable to the Securities of such series, 1004 (including, without limitation, with respect to the payment of Additional Amounts, if any, with respect to such Securities as contemplated by Section 1004, but only to the extent that the Additional Amounts payable with respect to such Securities exceed the amount deposited in respect of such Additional Amounts pursuant to Section 401(1)(b)), any rights of Holders of the Securities of such series (unless otherwise provided pursuant to Section 301 with respect to the Securities of such series) to require the Company to repurchase or repay, and the obligations of the Company to repurchase or repay, such Securities at the option of the Holders pursuant to Article Thirteen hereof, and any rights of Holders of the Securities of such series (unless otherwise provided pursuant to Section 301 with respect to the Securities of such series) to convert or exchange, and the obligations of the Company to convert or exchange, such Securities into Common Stock or other securities or property, shall survive.

 

  

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Section 402.  Defeasance and Covenant Defeasance.

 

(1) Unless, pursuant to Section 301, either or both of (i) defeasance of the Securities of or within a series under clause (2) of this Section 402 or (ii) covenant defeasance of the Securities of or within a series under clause (3) of this Section 402 shall not be applicable with respect to the Securities of such series, then such provisions, together with the other provisions of this Section 402 (with such modifications thereto as may be specified pursuant to Section 301 with respect to any Securities), shall be applicable to such Securities and any Coupons appertaining thereto, and the Company may at its option by Board Resolution, at any time, with respect to the Securities of or within such series and any Coupons appertaining thereto, elect to have Section 402(2) or Section 402(3) be applied to such Outstanding Securities and any Coupons appertaining thereto upon compliance with the conditions set forth below in this Section 402. Unless otherwise specified pursuant to Section 301 with respect to the Securities of any series, defeasance under clause (2) of this Section 402 and covenant defeasance under clause (3) of this Section 402 may be effected only with respect to all, and not less than all, of the Outstanding Securities of any series.  To the extent that the terms of any Security or Coupon appertaining thereto established in or pursuant to this Indenture permit the Company or any Holder thereof to extend the date on which any payment of principal of, or premium, if any, or interest, if any, on, or Additional Amounts, if any, with respect to such Security or Coupon is due and payable, then unless otherwise provided pursuant to Section 301, the right to extend such date shall terminate upon defeasance or covenant defeasance, as the case may be.

 

(2) Upon the Company’s exercise of the above option applicable to this Section 402(2) with respect to any Securities of or within a series, the Company shall be deemed to have been discharged from its obligations with respect to such Outstanding Securities and any Coupons appertaining thereto on the date the conditions set forth in clause (4) of this Section 402 are satisfied (hereinafter, “defeasance”).  For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Outstanding Securities and any Coupons appertaining thereto, which shall thereafter be deemed to be “Outstanding” only for the purposes of clause (5) of this Section 402 and the other Sections of this Indenture referred to in subclauses (i) through (iv) of this clause (2), and to have satisfied all of its other obligations under such Securities and any Coupons appertaining thereto and this Indenture insofar as such Securities and any Coupons appertaining thereto are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive until otherwise terminated or discharged hereunder:  (i) the rights of Holders of such Outstanding Securities and any Coupons appertaining thereto to receive, solely (except as provided in subclause (ii) below) from the trust fund described in clause (4)(a) of this Section 402 and as more fully set forth in this Section 402 and 403, payments in respect of the principal of (and premium, if any) and interest, if any, on, and Additional Amounts, if any, with respect to, such Securities and any Coupons appertaining thereto when such payments are due, (ii) the obligations of the Company and the Trustee with respect to such Securities under Sections 305, 306, 1002, 1003 and, if applicable to the Securities of such series, 1004 (including, without limitation, with respect to the payment of Additional Amounts, if any, with respect to such Securities as contemplated by Section 1004, but only to the extent that the Additional Amounts payable with respect to such Securities exceed the amount deposited in respect of such Additional Amounts pursuant to clause (4)(a) of this Section 402)), any rights of Holders of such Securities (unless otherwise provided pursuant to Section 301 with respect to the Securities of such series) to require the Company to repurchase or repay, and the obligations of the Company to repurchase or repay, such Securities at the option of the Holders pursuant to Article Thirteen hereof, and any rights of Holders of such Securities (unless otherwise provided pursuant to Section 301 with respect to the Securities of such series) to convert or exchange, and the obligations of the Company to convert or exchange, such Securities into Common Stock or other securities or property, (iii) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (iv) this Section 402 and Sections 403 and 404.  The Company may exercise its option under this Section 402(2) notwithstanding the prior exercise of its option under Section 402(3) with respect to such Securities and any Coupons appertaining thereto.

 

  

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(3) Upon the Company’s exercise of the above option applicable to this Section 402(3) with respect to any Securities of or within a series, the Company shall be released from its obligations under clauses (ii) and (iii) of Section 1005 and under Sections 1006, 1007, 1008 and 1009 and, to the extent specified pursuant to Section 301, any other covenant applicable to such Securities with respect to such Securities and any Coupons appertaining thereto shall cease to be applicable to such Securities on and after the date the conditions set forth in clause (4) of this Section 402 are satisfied (hereinafter, “covenant defeasance”), and such Securities and any Coupons appertaining thereto shall thereafter be deemed to be not “Outstanding” for the purposes of any direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in connection with any such covenant, but shall continue to be deemed “Outstanding” for all other purposes hereunder.  For this purpose, such covenant defeasance means. with respect to such Outstanding Securities and any Coupons appertaining thereto, the Company may omit to comply with, and shall have no liability in respect of, any term, condition or limitation set forth in any such Section or any such other covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such Section or such other covenant or by reason of reference in any such Section or such other covenant to any other provision herein or in any other document and such omission to comply shall not constitute a default or an Event of Default under Section 501(4) or 501(10) or otherwise, as the case may be, but, except as specified above, the remainder of this Indenture and such Securities and Coupons appertaining thereto shall be unaffected thereby.

 

(4) The following shall be the conditions to application of clause (2) or (3) of this Section 402 to any Outstanding Securities of or within a series and any Coupons appertaining thereto:

 

  

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(a) The Company shall irrevocably have deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of Section 607 who shall agree to comply with the provisions of this Section 402 applicable to it) as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities and any Coupons appertaining thereto, (1) an amount in Dollars or in such Foreign Currency in which such Securities and any Coupons appertaining thereto are then specified as payable at Stated Maturity or, if such defeasance or covenant defeasance is to be effected in compliance with subsection (f) below, on the relevant Redemption Date, as the case may be, or (2) Government Obligations applicable to such Securities and Coupons appertaining thereto (determined on the basis of the Currency in which such Securities and Coupons appertaining thereto are then specified as payable at Stated Maturity or, if such defeasance or covenant defeasance is to be effected in compliance with subsection (f) below, on the relevant Redemption Date, as the case may be) which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment of principal of (and premium, if any) and interest, if any, on such Securities and any Coupons appertaining thereto, money in an amount, or (3) a combination thereof, in any case, in an amount, sufficient, without consideration of any reinvestment of such principal and interest, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge, (y) the principal of (and premium, if any) and interest, if any, on, and, to the extent that such Securities provide for the payment of Additional Amounts thereon and the amount of any such Additional Amounts which are or will be payable with respect to the Securities of such series is at the time of deposit determinable by the Company (in the exercise by the Company of its reasonable discretion), any Additional Amounts with respect to, such Outstanding Securities and any Coupons appertaining thereto on the Maturity or Stated Maturity of such principal or interest, and (z) any mandatory sinking fund payments or analogous payments applicable to such Outstanding Securities and any Coupons appertaining thereto on the day on which such payments are due and payable in accordance with the terms of this Indenture and of such Securities and any Coupons appertaining thereto.

 

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

 

(c) No Event of Default or event which with notice or lapse of time or both would become an Event of Default with respect to such Securities and any Coupons appertaining thereto shall have occurred and be continuing on the date of such deposit, and, solely in the case of defeasance under Section 402(2), no Event of Default with respect to such Securities and any Coupons appertaining thereto under clause (6) or (7) of Section 501 or event which with notice or lapse of time or both would become an Event of Default with respect to such Securities and any Coupons appertaining thereto under clause (6) or (7) of Section 501 shall have occurred and be continuing at any time during the period ending on and including the 91st day after the date of such deposit (it being understood that this condition to defeasance under Section 402(2) shall not be deemed satisfied until the expiration of such period).

 

  

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(d) In the case of defeasance pursuant to Section 402(2), the Company shall have delivered to the Trustee an opinion of independent counsel reasonably acceptable to the Trustee stating that (x) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or (y) since the date of this Indenture there has been a change in applicable federal income tax law, in either case to the effect that, and based thereon such opinion of independent counsel shall confirm that, the Holders of such Outstanding Securities and any Coupons appertaining thereto will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such defeasance had not occurred; or, in the case of covenant defeasance pursuant to Section 402(3), the Company shall have delivered to the Trustee an opinion of independent counsel reasonably acceptable to the Trustee to the effect that the Holders of such Outstanding Securities and any Coupons appertaining thereto will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such covenant defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not occurred.

 

(e) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance or covenant defeasance, as the case may be, under this Indenture have been complied with.

 

(f) If the monies or Government Obligations or combination thereof, as the case may be, deposited under subclause (a) above are sufficient to pay the principal of, and premium, if any, and interest, if any, on and, to the extent provided in such subclause (a), Additional Amounts with respect to, such Securities on a particular Redemption Date, the Company shall have given the Trustee irrevocable instructions to redeem such Securities on such date and to provide notice of such redemption to Holders as provided in or pursuant to this Indenture.

 

(g) Notwithstanding any other provisions of this Section 402(4), such defeasance or covenant defeasance shall be effected in compliance with any additional or substitute terms, conditions or limitations which may be imposed on the Company in connection therewith pursuant to Section 301.

 

(5) Subject to the provisions of the last paragraph of Section 1003, all money and Government Obligations (or other property as may be provided pursuant to Section 301) (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee (collectively for purposes of this Section 402(5) and Section 403, the “Trustee”)) pursuant to clause (4)(a) of Section 402 in respect of any Outstanding Securities of any series and any Coupons appertaining thereto shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and any Coupons appertaining thereto and this Indenture, to the payment, either directly or through any Paying Agent (other than the Company or any Subsidiary or Affiliate of the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Securities and any Coupons appertaining thereto of all sums due and to become due thereon in respect of principal (and premium, if any) and interest and Additional Amounts, if any, but such money need not be segregated from other funds except to the extent required by law.

 

  

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Unless otherwise specified in or pursuant to this Indenture or any Securities, if, after a deposit referred to in Section 402(4)(a) has been made, (a) the Holder of a Security in respect of which such deposit was made is entitled to, and does, elect pursuant to Section 301 or the terms of such Security to receive payment in a Currency other than that in which the deposit pursuant to Section 402(4)(a) has been made in respect of such Security, or (b) a Conversion Event occurs in respect of the Foreign Currency in which the deposit pursuant to Section 402(4)(a) has been made, the indebtedness represented by such Security and any Coupons appertaining thereto shall be deemed to have been, and will be, fully discharged and satisfied through the payment of the principal of (and premium, if any), and interest, if any, on, and Additional Amounts, if any, with respect to, such Security as the same becomes due out of the proceeds yielded by converting (from time to time as specified below in the case of any such election) the amount or other property deposited in respect of such Security into the Currency in which such Security becomes payable as a result of such election or Conversion Event based on (x) in the case of payments made pursuant to subclause (a) above, the applicable market exchange rate for such Currency in effect on the second Business Day prior to each payment date, or (y) with respect to a Conversion Event, the applicable market exchange rate for such Foreign Currency in effect (as nearly as feasible) at the time of the Conversion Event.

 

The Company shall pay and indemnify the Trustee against any tax, fee or other charge, imposed on or assessed against the Government Obligations deposited pursuant to this Section 402 or the principal or interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of such Outstanding Securities and any Coupons appertaining thereto.

 

Anything in this Section 402 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company Request any money or Government Obligations (or other property and any proceeds therefrom) held by it as provided in clause (4)(a) of this Section 402 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect a defeasance or covenant defeasance, as applicable, in accordance with this Section 402.

 

Section 403.  Application of Trust Money.

 

Subject to the provisions of the last paragraph of Section 1003, all money and Government Obligations deposited with the Trustee pursuant to Section 401 or 402 shall be held in trust and applied by it, in accordance with the provisions of the Securities, the Coupons and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal, premium, interest and Additional Amounts for whose payment such money has or Government Obligations have been deposited with or received by the Trustee; but such money and Government Obligations need not be segregated from other funds except to the extent required by law.

 

  

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Section 404.  Reinstatement.

 

If the Trustee (or other qualifying trustee appointed pursuant to Section 402(4)(a)) or any Paying Agent is unable to apply any moneys or Government Obligations deposited pursuant to Section 401(1) or 402(4)(a) to pay any principal of or premium, if any, or interest, if any, on or Additional Amounts, if any, with respect to the Securities of any series by reason of any legal proceeding or any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Securities of such series shall be revived and reinstated as though no such deposit had occurred, until such time as the Trustee (or other qualifying trustee) or Paying Agent is permitted to apply all such moneys and Government Obligations to pay the principal of and premium, if any, and interest, if any, on and Additional Amounts, if any, in respect of the Securities of such series as contemplated by Section 401 or 402 as the case may be, and Section 403; provided, however, that if the Company makes any payment of the principal of or premium, if any, or interest if any, on or Additional Amounts, if any, in respect of the Securities of such series following the reinstatement of its obligations as aforesaid, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the funds held by the Trustee (or other qualifying trustee) or Paying Agent.

 

ARTICLE FIVE

 

REMEDIES

 

Section 501.  Events of Default.

 

“Event of Default”, wherever used herein with respect to Securities of any series, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body) unless such event is specifically deleted or modified in or pursuant to the supplemental indenture, Board Resolution or Officers’ Certificate establishing the terms of such series pursuant to this Indenture:

 

(1) default in the payment of any interest on, or any Additional Amounts payable in respect of any interest on, any of the Securities of such series or any Coupon appertaining thereto when such interest or such Additional Amounts, as the case may be, become due and payable, and continuance of such default for a period of 30 days; or

 

(2) default in the payment of any principal of or premium, if any, on, or any Additional Amounts payable in respect of any principal of or premium, if any, on, any of the Securities of such series when due (whether at Maturity, upon redemption or exercise of a repurchase right or otherwise and whether payable in cash or in shares of Common Stock or other securities or property); or

 

(3) default in the deposit of any sinking fund payment or payment under any analogous provision when due with respect to any of the Securities of such series; or

 

  

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(4) with respect to any series of Securities to which the provisions of Article Sixteen shall apply as contemplated by Section 301 hereof, a Guarantee ceases to be in full force and effect or is declared to be null and void and unenforceable with respect to the Securities of such series or a Guarantee is found to be invalid or a Guarantor denies its liability under its Guarantee (other than by reason of release of the Guarantor in accordance with the terms hereof) with respect to the Securities of such series; 

 

(5) default in the performance, or breach, of any covenant or warranty of the Company in this Indenture or any of the Securities of such series (other than a covenant or warranty for which the consequences of breach or nonperformance are addressed elsewhere in this Section 501 or a covenant or warranty which has expressly been included in this Indenture, whether or not by means of a supplemental indenture, solely for the benefit of Securities of a series other than such series), and continuance of such default or breach (without such default or breach having been waived in accordance of the provisions of this Indenture) for a period of 60 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 at least 25% in principal amount of the Outstanding Securities of such series 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

 

(6) a failure by the Company or any of its Significant Subsidiaries to pay when due, either at Maturity, upon redemption, upon exercise of a repayment or repurchase right, upon acceleration or otherwise, any Indebtedness in excess of $50,000,000 principal amount under any bond, debenture, note or other evidence of Indebtedness of the Company or any such Significant Subsidiary, unless such Indebtedness (other than Indebtedness due upon acceleration) is discharged, the acceleration of such other Indebtedness is waived, cured, rescinded or annulled, within 30 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 at least 25% in aggregate principal amount of the Outstanding Securities of such series 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;

 

(7) the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company or any Significant Subsidiary of the Company in an involuntary case or proceeding under any applicable U.S. federal or state bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Company or any Significant Subsidiary of the Company a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company or any Significant Subsidiary of the Company under any applicable U.S. federal or state law, or appointing a custodian, receiver, conservator, liquidator, assignee, trustee, sequestrator or other similar official of the Company or any Significant Subsidiary of the Company or of any substantial part of the property of the Company or any Significant Subsidiary of the Company, or ordering the winding up or liquidation of the affairs of the Company or any Significant Subsidiary of the Company, and the continuance of any such decree or order for relief unstayed and in effect for a period of 60 consecutive days; or

 

  

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(8) the commencement by the Company or any Significant Subsidiary of the Company of a voluntary case or proceeding under any applicable U.S. federal or state bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by the Company or any Significant Subsidiary of the Company to the entry of a decree or order for relief in respect of the Company or any Significant Subsidiary of the Company in an involuntary case or proceeding under any applicable U.S. federal or state bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against the Company or any Significant Subsidiary of the Company, or the filing by the Company or any Significant Subsidiary of the Company of a petition or answer or consent seeking reorganization or relief under any applicable U.S. federal or state law, or the consent by the Company or any Significant Subsidiary of the Company to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, conservator, liquidator, assignee, trustee, sequestrator or similar official of the Company or any Significant Subsidiary of the Company or of any substantial part of the property of the Company or any Significant Subsidiary of the Company, or the making by the Company or any Significant Subsidiary of the Company of an assignment for the benefit of creditors, or the taking of corporate action by the Company or any Significant Subsidiary of the Company in furtherance of any such action; or

 

(9) default in the delivery of any shares of Common Stock, together with cash in lieu of fractional shares, or any other securities or property (including cash) when required to be delivered upon conversion of any convertible Security of such series or upon the exchange of any Security of such series which is exchangeable for other securities or property, and continuance of such default for a period of 10 Business Days; or

 

(10) the rendering of a final judgment or judgments (not subject to appeal and not covered by insurance) against the Company or any of its Subsidiaries in excess of $15,000,000 which remains unstayed, unpaid, undischarged or unbonded for 60 days; or

 

(11) any other Event of Default provided in or pursuant to this Indenture with respect to Securities of such series.

 

Section 502. Acceleration of Maturity; Rescission and Annulment.

 

If an Event of Default (other than an Event of Default specified in clause (7) or (8) of Section 501 in respect of the Company) with respect to Securities of any series occurs and is continuing, then either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series may declare the principal of all the Securities of such series, or such lesser amount as may be provided for in the Securities of such series, and accrued and unpaid interest, if any, thereon to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal or such lesser amount, as the case may be, and such accrued and unpaid interest shall become immediately due and payable.  If an Event of Default specified in clause (6) or (7) of Section 501 with respect to the Securities of any series occurs in respect of the Company, then the principal of all of the Securities of such series, or such lesser amount as may be provided for in the Securities of such series, and accrued an unpaid interest, if any, thereon shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of the Securities of such series.

 

  

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At any time after Securities of any series have been accelerated (whether by declaration of the Trustee or the Holders or automatically) and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in aggregate principal amount of the Outstanding Securities of such series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if

 

(1) the Company has paid or deposited with the Trustee a sum of money sufficient to pay (or, to the extent that the terms of the Securities of such series established pursuant to Section 301 expressly provide for payment to be made in shares of Common Stock or other securities or property, shares of Common Stock or other securities or property, together with cash in lieu of fractional shares or securities, sufficient to pay)

 

(a) all overdue installments of any interest on any Securities of such series and any Coupons appertaining thereto which have become due otherwise than by such declaration of acceleration and any Additional Amounts with respect thereto,

 

(b) the principal of and any premium on any Securities of such series which have become due otherwise than by such declaration of acceleration and any Additional Amounts with respect thereto and, to the extent permitted by applicable law, interest thereon at the rate or respective rates, as the case may be, provided for in or with respect to such Securities, or, if no such rate or rates are so provided, at the rate or respective rates, as the case may be, of interest borne by such Securities,

 

(c) to the extent permitted by applicable law, interest upon installments of any interest, if any, which have become due otherwise than by such declaration of acceleration and any Additional Amounts with respect thereto at the rate or respective rates, as the case may be, provided for in or with respect to such Securities, or, if no such rate or rates are so provided, at the rate or respective rates, as the case may be, of interest borne by such Securities, and

 

(d) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and all other amounts due the Trustee under Section 606; and

 

(2) all Events of Default with respect to Securities of such series other than the non-payment of the principal of, any premium and interest on, and any Additional Amounts with respect to Securities of such series which shall have become due solely by such declaration of acceleration, shall have been cured or waived as provided in Section 513.

 

  

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

 

Section 503.  Collection of Indebtedness and Suits for Enforcement by Trustee.

 

The Company covenants that if:

 

(1) default is made in the payment of any interest on, or any Additional Amounts payable in respect of any interest on, any Security or any Coupon appertaining thereto when such interest or Additional Amounts, as the case may be, shall have become due and payable and such default continues for a period of 30 days, or

 

(2) default is made in the payment of any principal of or premium, if any, on, or any Additional Amounts payable in respect of any principal of or premium, if any, on, any Security at its Maturity, or

 

(3) default is made in the deposit of any sinking fund payment when due,

 

the Company shall, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such Securities and any Coupons appertaining thereto, the whole amount of money then due and payable with respect to such Securities and any Coupons appertaining thereto, with interest upon the overdue principal, any premium and, to the extent permitted by applicable law, upon any overdue installments of interest and Additional Amounts at the rate or respective rates, as the case may be, provided for or with respect to such Securities or, if no such rate or rates are so provided, at the rate or respective rates, as the case may be, of interest borne by such Securities, and, in addition thereto, such further amount of money as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and all other amounts due to the Trustee under Section 606.

 

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

 

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

 

  

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Section 504.  Trustee May File Proofs of Claim.

 

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

 

(1) to file and prove a claim for the whole amount, or such lesser amount as may be provided for in the Securities of such series, of the principal and any premium, interest and Additional Amounts owing and unpaid in respect of the Securities and any Coupons appertaining thereto and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents or counsel) and of the Holders of Securities or any Coupons allowed in such judicial proceeding, and

 

(2) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

 

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder of Securities or any Coupons to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders of Securities or any Coupons, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and any other amounts due the Trustee under Section 606.

 

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

 

Section 505.  Trustee May Enforce Claims without Possession of Securities or Coupons.

 

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

 

  

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Section 506.  Application of Money Collected.

 

Any money collected by the Trustee pursuant to this Article with respect to the Securities of any series shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal, or any premium, interest or Additional Amounts, upon presentation of such Securities or the Coupons, if any, appertaining thereto, or both, as the case may be, and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 

FIRST:  To the payment of all amounts due the Trustee and any predecessor Trustee under Section 606;

 

SECOND:  To the payment of the amounts then due and unpaid upon the Securities and any Coupons for principal and any premium, interest and Additional Amounts in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the aggregate amounts due and payable on such Securities and Coupons for principal and any premium, interest and Additional Amounts;

 

THIRD:  The balance, if any, to the Person or Persons entitled thereto.

 

Section 507.  Limitations on Suits.

 

No Holder of any Security of any series or any Coupons appertaining thereto shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless

 

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

 

(2) the Holders of not less than 25% in aggregate principal amount of the Outstanding Securities of such series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

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

 

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

 

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

 

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

 

  

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Section 508.  Unconditional Right of Holders to Receive Principal and any Premium, Interest and Additional Amounts.

 

Notwithstanding any other provision in this Indenture, the Holder of any Security or Coupon shall have the right, which is absolute and unconditional, to receive payment of the principal of, any premium, if any, and (subject to Sections 305 and 307) interest, if any, on and any Additional Amounts with respect to such Security or such Coupon, as the case may be, on the respective Stated Maturity or Maturities therefor specified in such Security or Coupon (or, in the case of redemption, on the Redemption Date or, in the case of repayment pursuant to Article Thirteen hereof at the option of such Holder if provided in or pursuant to this Indenture, on the date such repayment is due) and, in the case of any Security which is convertible into or exchangeable for other securities or property, to convert or exchange, as the case may be, such Security in accordance with its terms, and to institute suit for the enforcement of any such payment and any such right to convert or exchange, and such right shall not be impaired without the consent of such Holder.

 

Section 509.  Restoration of Rights and Remedies.

 

If the Trustee or any Holder of a Security or a Coupon has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case the Company, each Guarantor (if applicable), the Trustee and each such Holder shall, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Trustee and each such Holder shall continue as though no such proceeding had been instituted.

 

Section 510.  Rights and Remedies Cumulative.

 

To the extent permitted by applicable law and except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or Coupons in the last paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to each and every Holder of a Security or a Coupon is intended to be exclusive of any other right or remedy, and every right and remedy, to the extent permitted by law, shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not, to the extent permitted by law, prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 511.  Delay or Omission Not Waiver.

 

No delay or omission of the Trustee or of any Holder of any Security or Coupon to exercise any right or remedy accruing upon any Event of Default shall, to the extent permitted by applicable law, impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein.  Every right and remedy given by this Article or by law to the Trustee or to any Holder of a Security or a Coupon may, to the extent permitted by applicable law, be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by such Holder, as the case may be.

 

  

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Section 512.  Control by Holders of Securities.

 

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

 

(1) such direction shall not be in conflict with any rule of law or with this Indenture or with the Securities of any series,

 

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

 

(3) such direction is not unduly prejudicial to the rights of the other Holders of Securities of such series not joining in such action.

 

Section 513.  Waiver of Past Defaults.

 

The Holders of a majority in aggregate principal amount of the Outstanding Securities of any series on behalf of the Holders of all the Securities of such series and any Coupons appertaining thereto may waive any past default hereunder with respect to such series and its consequences, except

 

(1) a default in the payment of the principal of, any premium or interest on, or any Additional Amounts with respect to, any Security of such series or any Coupons appertaining thereto, or

 

(2) in the case of any Securities which are convertible into or exchangeable for Common Stock or other securities or property, a default in any such conversion or exchange, or

 

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

 

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

 

  

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Section 514.  Waiver of Usury, Stay or Extension Laws.

 

The Company covenants that (to the extent that it may lawfully do so) it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or any other law wherever enacted, now or at any time hereafter in force, which would prohibit or forgive the Company from paying all or any portion of the principal of or premium, if any, or interest, if any on or Additional Amounts, if any, with respect to any Securities as contemplated herein and therein or which may affect the covenants or the performance of this Indenture or the Securities; and the Company (to the extent that it may lawfully do so) expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee or the Holders, but will suffer and permit the execution of every such power as though no such law had been enacted.

 

Section 515.  Undertaking for Costs.

 

All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of any undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and disbursements, 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 515 shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of Outstanding Securities of any series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of (or premium, if any) or interest, if any, on or Additional Amounts, if any, with respect to any Security on or after the respective Stated Maturities expressed in such Security (or, in the case of redemption, on or after the Redemption Date, and, in the case of repayment at the option of the Holder pursuant to Article Thirteen hereof, on or after the date for repayment) or for the enforcement of the right, if any, to convert or exchange any Security into Common Stock or other securities or property in accordance with its terms.

 

ARTICLE SIX

 

THE TRUSTEE

 

Section 601.  Certain Rights of Trustee.

 

Subject to Sections 315(a) through 315(d) of the Trust Indenture Act:

 

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

 

  

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(2) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or a Company Order (in each case, other than delivery of any Security, together with any Coupons appertaining thereto, to the Trustee for authentication and delivery pursuant to Section 303 which shall be sufficiently evidenced as provided therein) and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution;

 

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

 

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

 

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

 

(6) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, coupon or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine, during business hours and upon reasonable notice, the books, records and premises of the Company, personally or by agent or attorney; and

 

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

 

Section 602.  Notice of Defaults.

 

Within 90 days after the occurrence of any default hereunder with respect to the Securities of any series, the Trustee shall transmit by mail to all Holders of Securities of such series entitled to receive reports pursuant to Section 703(3), notice of such default hereunder known to the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any), or interest, if any, on, or Additional Amounts or any sinking fund installment with respect to, any Security of such series or in the conversion or exchange of any Security of such series into Common Stock or other securities or property in accordance with its terms, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the best interest of the Holders of Securities and Coupons of such series; and provided, further, that in the case of any default of the character specified in Section 501(4) or 501(10) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof.  For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series.

 

  

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Section 603.  Not Responsible for Recitals or Issuance of Securities.

 

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

 

Section 604.  May Hold Securities.

 

The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other Person that may be an agent of the Trustee or the Company, in its individual or any other capacity, may become the owner or pledgee of Securities or Coupons and, subject to Sections 310(b) and 311 of the Trust Indenture Act, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other Person.

 

Section 605.  Money Held in Trust.

 

Except as provided in Section 403 and Section 1003, money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law and shall be held uninvested.  The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company.

 

Section 606.  Compensation and Reimbursement.

 

The Company agrees:

 

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

 

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

 

  

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(3) to indemnify the Trustee and its agents for, and to hold them harmless against, any loss, liability or reasonable expense (including, without limitation, the reasonable fees and disbursements of the Trustee’s agents, legal counsel, accountants and experts) incurred without negligence or bad faith on their part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the reasonable costs and expenses of defending themselves against any claim or liability in connection with the exercise or performance of any of their powers or duties hereunder, except to the extent that any such loss, liability or expense was due to the Trustee’s negligence or bad faith.

 

As security for the performance of the obligations of the Company under this Section, the Trustee shall have a lien prior to the Securities of any series upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of, or premium or interest on or any Additional Amounts with respect to Securities or any Coupons appertaining thereto.

 

Any compensation or expense incurred by the Trustee after a default specified by Section 501(6) or (7) is intended to constitute an expense of administration under any then applicable bankruptcy or insolvency law.  “Trustee” for purposes of this Section 606 shall include any predecessor Trustee but the negligence or bad faith of any Trustee shall not affect the rights of any other Trustee under this Section 606.  The provisions of this Section 606 shall, to the extent permitted by law, survive any termination of this Indenture (including, without limitation, termination pursuant to any Bankruptcy Laws) and the resignation or removal of the Trustee.

 

Section 607.  Corporate Trustee Required; Eligibility.

 

There shall at all times be a Trustee hereunder that is a Corporation, organized and doing business under the laws of the United States of America, any state thereof or the District of Columbia, eligible under Section 310(a)(1) of the Trust Indenture Act to act as trustee under an indenture qualified under the Trust Indenture Act and that has a combined capital and surplus (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000 subject to supervision or examination by Federal or state authority.  If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

Section 608.  Resignation and Removal; Appointment of Successor.

 

(1) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee pursuant to Section 609.

 

(2) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company.  If the instrument of acceptance by a successor Trustee required by Section 609 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to such series.

 

  

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

 

(4) If at any time:

 

(a) the Trustee shall fail to comply with the obligations imposed upon it under Section 310(b) of the Trust Indenture Act with respect to Securities of any series after written request therefor by the Company or any Holder of a Security of such series who has been a bona fide Holder of a Security of such series for at least six months, or

 

(b) the Trustee shall cease to be eligible under Section 607 and shall fail to resign after written request therefor by the Company or any such Holder, or

 

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

 

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

 

(5) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by or pursuant to a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 609.  If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 609, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company.  If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner required by Section 609, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 

  

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(6) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Registered Securities, if any, of such series as their names and addresses appear in the Security Register and, if Securities of such series are issued as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper in each Place of Payment located outside the United States.  Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.

 

Section 609.  Acceptance of Appointment by Successor.

 

(1) Upon the appointment hereunder of any successor Trustee with respect to all Securities, such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties hereunder of the retiring Trustee; but, on the request of the Company or such successor Trustee, such retiring Trustee, upon payment of its charges, shall execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and, subject to Section 1003, shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder, subject nevertheless to its claim, if any, provided for in Section 606.

 

(2) Upon the appointment hereunder of any successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and such successor Trustee shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, such successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible for any notice given to, or received by, or any act or failure to act on the part of any other Trustee hereunder, and, upon the execution and delivery of such supplemental indenture, the resignation or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall have no further responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture with respect to the Securities of that or those series to which the appointment of such successor Trustee relates other than as hereinafter expressly set forth, and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or such successor Trustee, such retiring Trustee, upon payment of its charges with respect to the Securities of that or those series to which the appointment of such successor relates and subject to Section 1003 shall duly assign, transfer and deliver to such successor Trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, subject to its claim, if any, provided for in Section 606.

 

  

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(3) Upon request of any Person appointed hereunder as a successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (1) or (2) of this Section, as the case may be.

 

(4) No Person shall accept its appointment hereunder as a successor Trustee unless at the time of such acceptance such successor Person shall be qualified and eligible under this Article.

 

Section 610.  Merger, Conversion, Consolidation or Succession to Business.

 

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

 

Section 611.  Appointment of Authenticating Agent.

 

The Trustee may appoint one or more Authenticating Agents acceptable to the Company with respect to one or more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of that or those series issued upon original issue, exchange, registration of transfer, partial redemption, partial repayment, partial conversion or exchange for Common Stock or other securities or property, or pursuant to Section 306, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder.  Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent.

 

  

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Each Authenticating Agent shall be acceptable to the Company and, except as provided in or pursuant to this Indenture, shall at all times be a Corporation that would be permitted by the Trust Indenture Act to act as trustee under an indenture qualified under the Trust Indenture Act, is authorized under applicable law and by its charter to act as an Authenticating Agent and has a combined capital and surplus (computed in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least $50,000,000.  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 specified in this Section.

 

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

 

An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and the Company.  The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and the Company.  Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall (i) mail written notice of such appointment by first-class mail, postage prepaid, to all Holders of Registered Securities, if any, of the series with respect to which such Authenticating Agent shall serve, as their names and addresses appear in the Security Register, and (ii) if Securities of the series are issued as Bearer Securities, publish notice of such appointment at least once in an Authorized Newspaper in the place where such successor Authenticating Agent has its principal office if such office is located outside the United States.  Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent.  No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section.

 

The Company agrees to pay each Authenticating Agent from time to time reasonable compensation for its services under this Section.  If the Trustee makes such payments, it shall be entitled to be reimbursed for such payments, subject to the provisions of Section 606.

 

The provisions of Sections 308, 603 and 604 shall be applicable to each Authenticating Agent.

 

  

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

 

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

 

U.S. BANK NATIONAL ASSOCIATION,

As Trustee

 

By: _____________________________________________

As Authenticating Agent

 

By: _____________________________________________

Authorized Signatory

 

If all of the Securities of any series may not be originally issued at one time, and if the Trustee does not have an office capable of authenticating Securities upon original issuance located in a Place of Payment where the Company wishes to have Securities of such series authenticated upon original issuance, the Trustee, if so requested in writing (which writing need not be accompanied by or contained in an Officers’ Certificate of the Company), shall appoint in accordance with this Section an Authenticating Agent having an office in a Place of Payment designated by the Company with respect to such series of Securities.

 

ARTICLE SEVEN

 

HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

Section 701.  Company to Furnish Trustee Names and Addresses of Holders.

 

In accordance with Section 312(a) of the Trust Indenture Act, the Company shall furnish or cause to be furnished to the Trustee

 

(1) semi-annually with respect to Securities of each series not later than May 1 and November 1 of the year or upon such other dates as are set forth in or pursuant to the Board Resolution or indenture supplemental hereto authorizing such series, a list, in each case in such form as the Trustee may reasonably require, of the names and addresses of Holders as of the applicable date, and

 

  

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

 

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

 

Section 702.  Preservation of Information; Communications to Holders.

 

The Trustee shall comply with the obligations imposed upon it pursuant to Section 312 of the Trust Indenture Act.

 

Every Holder of Securities or Coupons, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company, the Trustee, any Paying Agent or any Security Registrar shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders of Securities in accordance with Section 312(c) of the Trust Indenture Act, regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Section 312(b) of the Trust Indenture Act.

 

Section 703.  Reports by Trustee.

 

(1) Within 60 days after May 15 of each year commencing with the first May 15 following the first issuance of Securities pursuant to Section 301, if required by Section 313(a) of the Trust Indenture Act, the Trustee shall transmit, pursuant to Section 313(c) of the Trust Indenture Act, a brief report dated as of such May 15 with respect to any of the events specified in said Sections 313(a) and 313(b)(2) which may have occurred since the later of the immediately preceding May 15 and the date of this Indenture.

 

(2) The Trustee shall transmit the reports required by Section 313(a) of the Trust Indenture Act at the times specified therein.

 

(3) Reports pursuant to this Section shall be transmitted in the manner and to the Persons required by Sections 313(c) and 313(d) of the Trust Indenture Act.

 

Section 704.  Reports by Company.

 

The Company, pursuant to Section 314(a) of the Trust Indenture Act, shall:

 

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

 

  

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

 

(3) transmit within 30 days after the filing thereof with the Trustee, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, such summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs (1) and (2) of this Section as may be required by rules and regulations prescribed from time to time by the Commission.

 

The Trustee agrees that any quarterly or annual report or other information, document or other report that the Company files with the Commission pursuant to Section 13 or 15(d) of the Exchange Act on the Commission’s EDGAR system shall be deemed to constitute delivery of such filing to the Trustee.

 

ARTICLE EIGHT

 

CONSOLIDATION, MERGER AND SALES

 

Section 801.  Company May Consolidate, Etc., Only on Certain Terms.

 

The Company shall not, in any transaction or series of related transactions, consolidate with or merge into any Person or sell, assign, transfer, lease or otherwise convey all or substantially all its properties and assets to any Person, unless:

 

(1)           either (A) the Company shall be the continuing Person (in the case of a merger), or (B) the successor Person (if other than the Company) formed by such consolidation or into which the Company is merged or which acquires by sale, assignment, transfer, lease or other conveyance all or substantially all the properties and assets of the Company shall be a corporation organized and existing under the laws of the United States of America, any state thereof or the District of Columbia and shall expressly assume, by an indenture (or indentures, if at such time there is more than one Trustee) supplemental hereto, executed by such successor corporation and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of, any premium and interest on, and any Additional Amounts with respect to, all the Outstanding Securities and the due and punctual performance and observance of every obligation in this Indenture and the Outstanding Securities on the part of the Company to be performed or observed, and which supplemental indenture shall provide for conversion or exchange rights in accordance with the provisions of the Securities of any series that are convertible or exchangeable into Common Stock or other securities or property;

 

  

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

 

(3)           either the Company or the successor Person shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, sale, assignment, transfer, lease or other conveyance and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with.

 

For purposes of the foregoing, any sale, assignment, transfer, lease or other conveyance of all or any of the properties and assets of one or more Subsidiaries of the Company (other than to the Company or another Subsidiary), which, if such properties and assets were owned by the Company, would constitute all or substantially all of the Company’s properties and assets, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Company.

 

Section 802.  Successor Person Substituted for Company.

 

Upon any consolidation y the Company with or merger of the Company into any other Person or any sale, assignment, transfer, lease or conveyance of all or substantially all of the properties and assets of the Company to any Person in accordance with Section 801, the successor Person formed by such consolidation or into which the Company is merged or to which such sale, assignment, transfer, lease or other conveyance is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein; and thereafter, except in the case of a lease, the predecessor Person shall be released from all obligations and covenants under this Indenture, the Securities and the Coupons.

 

ARTICLE NINE

 

SUPPLEMENTAL INDENTURES

 

Section 901.  Supplemental Indentures without Consent of Holders.

 

Without the consent of any Holders of Securities or Coupons, the Company (when authorized by or pursuant to a Board Resolution), each Guarantor (if applicable) and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes:

 

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

 

  

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(2) to add to the covenants of the Company or a Guarantor for the benefit of the Holders of all or any series of Securities (as shall be specified in such supplemental indenture or indentures) or to surrender any right or power herein conferred upon the Company or a Guarantor with respect to all or any series of Securities issued under this Indenture (as shall be specified in such supplemental indenture or indentures); or

 

(3) to add to or change any of the provisions of this Indenture to provide that Bearer Securities may be registrable as to principal, to change or eliminate any restrictions on the payment of principal of, any premium or interest on or any Additional Amounts with respect to Securities, to permit Bearer Securities to be issued in exchange for Registered Securities, to permit Bearer Securities to be exchanged for Bearer Securities of other authorized denominations or to permit or facilitate the issuance of Securities in uncertificated or global form, provided any such action shall not adversely affect the interests of the Holders of Securities of any series or any Coupons appertaining thereto; or

 

(4) to establish the form or terms of Securities of any series and any Coupons appertaining thereto as permitted by Sections 201 and 301, including, without limitation, any conversion or exchange provisions applicable to Securities which are convertible into or exchangeable for other securities or property, and any deletions from or additions or changes to this Indenture in connection therewith (provided that any such deletions, additions and changes shall not be applicable to any other series of Securities then Outstanding); or

 

(5) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 609; or

 

(6) to cure any ambiguity or to correct or supplement any provision herein which may be defective or which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, in each case which shall not adversely affect the interests of the Holders of Securities of any series then Outstanding or any Coupons appertaining thereto; or

 

(7) to add any additional Events of Default with respect to all or any series of Securities (as shall be specified in such supplemental indenture); or

 

(8) to supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the defeasance, covenant defeasance and/or satisfaction and discharge of any series of Securities pursuant to Article Four, provided that any such action shall not adversely affect the interests of any Holder of a Security of such series and any Coupons appertaining thereto or any other Security or Coupon; or

 

(9) to secure the Securities or to add guarantees for the benefit of the Securities; or

 

  

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(10) to amend or supplement any provision contained herein or in any supplemental indenture or in any Securities (which amendment or supplement may apply to one or more series of Securities or to one or more Securities within any series as specified in such supplemental indenture or indentures), provided that such amendment or supplement does not apply to any Outstanding Security issued prior to the date of such supplemental indenture and entitled to the benefits of such provision; or

 

(11) in the case of any series of Securities which are convertible into or exchangeable for Common Stock or other securities or property, to safeguard or provide for the conversion or exchange rights, as the case may be, of such Securities in the event of any reclassification or change of outstanding shares of Common Stock or any merger, consolidation, statutory share exchange or combination of the Company with or into another Person or any sale, lease, assignment, transfer, disposition or other conveyance of all or substantially all of the properties and assets of the Company to any other Person or other similar transactions, if expressly required by the terms of such series of Securities established pursuant to Section 301; or

 

(12) to conform the terms of the Indenture or the Debt Securities of a series or any Guarantee to the description thereof contained in any prospectus or other offering document or memorandum relating to the offer and sale of such Debt Securities.

 

Section 902.  Supplemental Indentures with Consent of Holders. 

 

With the consent of the Holders of a majority in aggregate principal amount of the Outstanding Securities of each series affected by such supplemental indenture (voting as separate classes), by Act of said Holders delivered to the Company and the Trustee, the Company (when authorized by or pursuant to a Board Resolution), each Guarantor, if any, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of the Securities of such series or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, that no such supplemental indenture, without the consent of the Holder of each Outstanding Security affected thereby, shall

 

(1) change the Stated Maturity of the principal of, or premium, if any, or any installment of interest, if any, on, or any Additional Amounts, if any, with respect to, any Security, or reduce the principal amount thereof or the premium, if any, thereon or the rate (or modify the calculation of such rate) of interest thereon, or reduce the amount payable upon redemption thereof at the option of the Company or repayment or repurchase thereof at the option of the Holder, or reduce any Additional Amounts payable with respect thereto, or change the obligation of the Company to pay Additional Amounts pursuant to Section 1004 (except as contemplated by Section 801(1) and permitted by Section 901(1)), or reduce the amount of the principal of any Original Issue Discount Security that would be due and payable upon acceleration of the Maturity thereof pursuant to Section 502 or the amount thereof provable in bankruptcy pursuant to Section 504, or adversely affect the right of repayment or repurchase at the option of any Holder as contemplated by Article Thirteen, or change the Place of Payment where or the Currency in which the principal of, any premium or interest on, or any Additional Amounts with respect to any Security is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date or, in the case of repayment or repurchase pursuant to Article Thirteen at the option of the Holder, on or after the date for repayment or repurchase) in each case as such Stated Maturity, Redemption Date or date for repayment or repurchase may, if applicable, be extended in accordance with the terms of such Security or any Coupon appertaining thereto, or in the case of any Security which is convertible into or exchangeable for shares of Common Stock or other securities or property, impair the right to institute suit to enforce the right to convert or exchange such Security in accordance with its terms, or in the case of any Security to which the provisions of Article Sixteen apply as contemplated by Section 301, release any Guarantor from its Guarantee other than as provided in this Indenture, or

 

  

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(2) reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in Section 513 or 1010 of this Indenture, or reduce the requirements of Section 1504 for quorum or voting, or

 

(3) modify any of the provisions of this Section, Section 513 or Section 1010, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby, or

 

(4) make any change that adversely affects the right, if any, to convert or exchange any Security for shares of Common Stock or other securities or property in accordance with its terms.

 

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

 

Anything in this Indenture to the contrary notwithstanding, if more than one series of Securities is Outstanding, the Company shall be entitled to enter into a supplemental indenture under this Section 902 with respect to any one or more series of Outstanding Securities without entering into a supplemental indenture with respect to any other series of Outstanding Securities.

 

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

 

Section 903.  Execution of Supplemental Indentures.

 

As a condition to executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trust created by this Indenture, the Trustee shall be entitled to receive, and (subject to Sections 315(a) through 315(d) of the Trust Indenture Act) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel to the effect that the execution of such supplemental indenture is authorized or permitted by this Indenture and that such supplemental indenture has been duly authorized, executed and delivered by, and is a valid, binding and enforceable obligation of, the Company, subject to customary exceptions.  The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise.

 

  

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Section 904.  Effect of Supplemental Indentures.

 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of a Security theretofore or thereafter authenticated and delivered hereunder and of any Coupon appertaining thereto shall be bound thereby.

 

Section 905.  Reference in Securities to Supplemental Indentures.

 

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

 

Section 906.  Conformity with Trust Indenture Act.

 

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

 

ARTICLE TEN

 

COVENANTS

 

Section 1001.  Payment of Principal, Premium, Interest and Additional Amounts.

 

The Company covenants and agrees for the benefit of the Holders of the Securities of each series that it will duly and punctually pay the principal of, any premium and interest on and any Additional Amounts with respect to the Securities of such series, whether payable in cash, shares of Common Stock or other securities or property, in accordance with the terms thereof, any Coupons appertaining thereto and this Indenture.  Any interest due on any Bearer Security on or before the Maturity thereof, and any Additional Amounts payable with respect to such interest, shall be payable only upon presentation and surrender of the Coupons appertaining thereto for such interest as they severally mature.

 

  

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Section 1002.  Maintenance of Office or Agency.

 

The Company shall maintain in each Place of Payment for any series of Securities an Office or Agency where Securities of such series (but not Bearer Securities, except as otherwise provided below, unless such Place of Payment is located outside the United States) may be presented or surrendered for payment, where Securities of such series may be surrendered for registration of transfer or exchange, where Securities of such series that are convertible or exchangeable may be surrendered for conversion or exchange, and where notices and demands to or upon the Company in respect of the Securities of such series relating thereto and this Indenture may be served.  If Securities of a series are issuable as Bearer Securities, the Company shall maintain, subject to any laws or regulations applicable thereto, an Office or Agency in a Place of Payment for such series which is located outside the United States where Securities of such series and any Coupons appertaining thereto may be presented and surrendered for payment; provided, however, that if the Securities of such series are listed on the London Stock Exchange or the Luxembourg Stock Exchange or any other stock exchange located outside the United States and such stock exchange shall so require, the Company shall maintain a Paying Agent in London, Luxembourg or any other required city located outside the United States, as the case may be, so long as the Securities of such series are listed on such exchange.  The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such Office or Agency.  If at any time the Company shall fail to maintain any such required Office or Agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, except that Bearer Securities of such series and any Coupons appertaining thereto may be presented and surrendered for payment at the place specified for the purpose with respect to such Securities as provided in or pursuant to this Indenture, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands.

 

Except as otherwise provided in or pursuant to this Indenture, no payment of principal, premium, interest or Additional Amounts with respect to Bearer Securities shall be made at any Office or Agency in the United States or by check mailed to any address in the United States or by transfer to an account maintained with a bank located in the United States; provided, however, if amounts owing with respect to any Bearer Securities shall be payable in Dollars, payment of principal of, any premium or interest on and any Additional Amounts with respect to any such Security may be made at the Corporate Trust Office of the Trustee or any Office or Agency designated by the Company in the Borough of Manhattan, The City of New York, if (but only if) payment of the full amount of such principal, premium, interest or Additional Amounts at all offices outside the United States maintained for such purpose by the Company in accordance with this Indenture is illegal or effectively precluded by exchange controls or other similar restrictions.

 

The Company may also from time to time designate one or more other Offices or Agencies where the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an Office or Agency in each Place of Payment for Securities of any series for such purposes.  The Company shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other Office or Agency.

 

  

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Unless otherwise provided in or pursuant to this Indenture, the Company hereby designates the Borough of Manhattan, the City of New York as a Place of Payment for each series of Securities, initially appoints the Corporate Trust Office of the Trustee in the Borough of Manhattan, the City of New York as the Company’s Office or Agency in the Borough of Manhattan, The City of New York for such purpose and initially appoints the Trustee as the  Security Registrar for each series of Securities and, if the Securities of any series are convertible into or exchangeable for Common Stock or other securities or property, initially appoints the Trustee as conversion or exchange agent, as the case may be, for the Securities of such series. The Company may subsequently appoint a different Office or Agency in the Borough of Manhattan, The City of New York and, as provided in Section 305, may remove and replace from time to time the Security Registrar.

 

Section 1003.  Money for Securities Payments to Be Held in Trust.

 

If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it shall, on or before each due date of the principal of, any premium or interest on, or any Additional Amounts with respect to any of the Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the Currency or Currencies in which the Securities of such series are payable sufficient to pay the principal, any premium, interest and Additional Amounts, as the case may be, so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and shall promptly notify the Trustee of its action or failure so to act.

 

Whenever the Company shall have one or more Paying Agents for any series of Securities, it shall, on or prior to each due date of the principal of, or any premium or interest on or any Additional Amounts with respect to, any Securities of such series, deposit with any Paying Agent a sum (in the Currency or Currencies described in the preceding paragraph) sufficient to pay the principal, premium, interest and Additional Amounts, as the case may be, 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 will promptly notify the Trustee of its action or failure so to act.

 

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

 

(1) hold all sums held by it for the payment of the principal of, any premium or interest on or any Additional Amounts with respect to Securities of such series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as provided in or pursuant to this Indenture;

 

(2) give the Trustee notice of any default by the Company (or any other obligor upon the Securities of such series) in the making of any payment of principal, any premium or interest on or any Additional Amounts with respect to the Securities of such series; and

 

  

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

 

To the extent that the terms of any Securities established pursuant to Section 301 provide that any principal of, or premium or interest, if any, on or any Additional Amounts with respect to any such Securities is or may be payable in shares of Common Stock or other securities or property, then the provisions of this Section 1003 shall apply, mutatis mutandis, to such shares of Common Stock or other securities or property.

 

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

 

Except as otherwise provided herein or pursuant hereto, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, any premium or interest on or any Additional Amounts with respect to any Security of any series or any Coupon appertaining thereto and remaining unclaimed for two years after such principal or such premium or interest or Additional Amount shall have become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security or any Coupon appertaining thereto shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may, not later than 30 days after the Company’s request for such repayment, at the expense of the Company cause to be published once, in an Authorized Newspaper in each Place of Payment for such series or to be mailed to Holders of Registered Securities of such series, or both, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication or mailing nor shall it be earlier than two years after such principal and any premium or interest or Additional Amounts shall have become due and payable, any unclaimed balance of such money then remaining will be repaid to the Company.

 

Section 1004.  Additional Amounts.

 

If any Securities of a series provide for the payment of Additional Amounts, the Company agrees to pay to the Holder of any such Securities or any Coupon appertaining thereto Additional Amounts as provided in or pursuant to this Indenture or such Securities.  Whenever in this Indenture there is mentioned, in any context, the payment of the principal of or any premium or interest on, or in respect of, any Security of any series or any Coupon, such mention shall be deemed to include mention of the payment of Additional Amounts provided by the terms of such series established hereby or pursuant hereto to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to such terms, and express mention of the payment of Additional Amounts (if applicable) in any provision hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made.

 

  

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Except as otherwise provided in or pursuant to this Indenture or the Securities of any series, if the Securities of a series provide for the payment of Additional Amounts, at least 10 days prior to the first Interest Payment Date with respect to such series of Securities (or if the Securities of such series shall not bear interest prior to Maturity, the first day on which a payment of principal is made), and at least 10 days prior to each date of payment of principal or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the Company shall furnish to the Trustee and the Paying Agent or Paying Agents, if other than the Trustee, an Officers’ Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and premium, if any, or interest, if any, on the Securities of such series shall be made to Holders of Securities of such series or the Coupons appertaining thereto who are United States Aliens without withholding or deduction for or on account of any tax, assessment or other governmental charge described in the Securities of such series or pursuant to Section 301 with respect to the Securities of such series.  If any such withholding or deduction shall be required, then such Officers’ Certificate shall specify by country the amount, if any, required to be withheld on or deducted from such payments to such Holders of Securities or Coupons, and the Company agrees to pay to the Trustee or such Paying Agent the Additional Amounts required by the terms of such Securities.  The Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against, any loss, liability or expense reasonably incurred without negligence or bad faith on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished pursuant to this Section.  Nothing in this Section 1004 or elsewhere in this Indenture shall limit the obligation of the Company to pay Additional Amounts with respect to the Securities of any series pursuant to the terms, if any, established pursuant to Section 301 with respect to the Securities of such series.

 

Section 1005.  Corporate Existence.

 

Subject to Article Eight, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect (i) the corporate existence of the Company, (ii) the existence (corporate or other) of each Significant Subsidiary of the Company and (iii) the rights (charter and statutory), licenses and franchises of the Company and each of its Significant Subsidiaries; provided, however, that the Company shall not be required to preserve the existence (corporate or other) of any of its Significant Subsidiaries or any such right, license or franchise of the Company or any of its Significant Subsidiaries if the Board of Directors of the Company determines that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Significant Subsidiaries taken as a whole and that the loss thereof will not be disadvantageous in any material respect to the Holders.

 

  

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Section 1006.  Maintenance of Properties.

 

The Company will, and will cause each Significant Subsidiary to, cause all its properties used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section shall prevent the Company or any Significant Subsidiary from discontinuing the operation and maintenance of any of their respective properties if such discontinuance is, in the judgment of the Board of Directors of the Company or of any Significant Subsidiary, as the case may be, desirable in the conduct of its business.

 

Section 1007.  Payment of Taxes and Other Claims.

 

The Company will, and will cause each Significant Subsidiary to, pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all material taxes, assessments and governmental charges levied or imposed upon it or upon its income, profits or property, and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a lien upon its property; provided, however, that neither the Company nor any Significant Subsidiary shall be required to pay or discharge or cause to be paid or discharged any such material tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings.

 

Section 1008.  Limitations on Liens.

 

(1) Except as expressly provided in Subsection (2) of this Section 1008, the Company will not, and will not permit any Subsidiary to, create, assume, incur or suffer to be created, assumed or incurred, any mortgage, pledge, lien, security interest, charge or encumbrance (all of the foregoing being hereinafter referred to as “liens”) to secure any indebtedness for borrowed money (i) upon any shares of Capital Stock issued by any Subsidiary that owns any Principal Facility (as hereinafter defined) to the extent such shares are owned by the Company or one or more Subsidiaries, or (ii) upon any Principal Facility, in either case without making effective provision whereby all the Securities or, in respect of liens upon any Principal Facility owned or leased by a Guarantor, the Guarantee shall be directly secured equally and ratably with the indebtedness secured by such lien, so long as any such indebtedness shall be so secured; provided, however, that this Section 1008 shall not be applicable to the following:

 

(a) liens existing on the date hereof;

 

(b) liens on property or shares of Capital Stock existing when acquired by the Company or any Subsidiary (including acquisition through merger, share exchange or consolidation) or securing the payment of all or part of the purchase price, construction or improvement thereof incurred prior to, at the time of, or within 180 days after the later of the acquisition, completion of construction or improvement or commencement of full operation of such property for the purpose of financing all or a portion of such purchase or construction or improvement; or

 

  

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(c) liens for the sole purpose of extending, renewing or replacing in whole or in part the indebtedness secured by any lien referred to in the foregoing clauses (a) through (b) or in this clause (c); provided, however, that the principal amount of indebtedness secured thereby shall not exceed the principal amount of indebtedness so secured at the time of such extension, renewal or replacement, and that such extension, renewal or replacement shall be limited to all or a part of the property which secured the lien so extended, renewed or replaced (plus improvements on such property).

 

(2) The Company and/or any Subsidiary may create, assume or incur, or suffer to be created, assumed or incurred, liens which would otherwise be prohibited by Subsection (1) of this Section 1008, provided that the aggregate principal amount of the indebtedness secured thereby, plus the aggregate value of the Sale and Leaseback Transactions permitted by the provisions of Subsection (2) of Section 1009, does not at the time exceed 15% of Consolidated Net Tangible Assets.

 

(3) The term “Principal Facility” shall mean any facility, together with the land upon which it is erected and fixtures comprising a part thereof, used primarily for distribution or warehousing and located in the United States, owned or leased pursuant to a capital lease by the Company or any Subsidiary, that has a gross book value (without deduction of any depreciation reserve) on the date as of which the determination is being made exceeding 2% of Consolidated Capitalization.

 

(4) The Certificate of a Firm of Independent Public Accountants shall be conclusive evidence as to the amount, at the date specified in such Certificate, of the gross book value of any distribution or warehousing facility, Consolidated Capitalization, or Consolidated Net Tangible Assets, as the case may be.

 

Section 1009.  Sale and Leaseback Transactions.

 

(1) Neither the Company nor any Subsidiary shall sell or transfer a Principal Facility now owned or hereafter acquired with the intention of taking back a lease of such property, except a lease for a temporary period of less than 3 years, including renewals, with the intent that the use by the Company or a Subsidiary will be discontinued on or before the expiration of such period (any transaction subject to the provisions of this Section 1009 being herein referred to as a “Sale and Leaseback Transaction”) unless the Company shall apply an amount equal to the value of the property so leased to the retirement (other than any mandatory retirement), within 180 days of the effective date of any such arrangement, of non-subordinated indebtedness for money borrowed by the Company which had a stated maturity of more than one year from the date of its creation.

 

(2) The Company or a Subsidiary may enter into a Sale and Leaseback Transaction which would otherwise be prohibited by Subsection (1) of this Section 1009, provided that the value thereof plus the aggregate indebtedness permitted to be secured under the provisions of paragraph (2) of Section 1008 does not at the time exceed 15% of Consolidated Net Tangible Assets.

 

  

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(3) The term “value” shall, for the purpose of this Section 1009 and Section 1008(2), mean, with respect to a Sale and Leaseback Transaction, as of any particular time, the amount equal to the greater of (i) the net proceeds of the sale of the property leased pursuant to such Sale and Leaseback Transaction or (ii) the fair value of such property at the time of entering into such Sale and Leaseback Transaction, as determined by the Board of Directors, in each such case divided first by the number of full years of the term of the lease and then multiplied by the number of full years of such term remaining at the time of determination, without regard to any renewal or extension options contained in the lease.

 

(4) The Certificate of a Firm of Independent Public Accountants shall be conclusive evidence as to the amount, at the date specified in such Certificate, of the gross book value of any distribution or warehousing facility, Consolidated Capitalization or Consolidated Net Tangible Assets, as the case may be.

 

Section 1010.  Waiver of Certain Covenants.

 

The Company may omit in any particular instance to comply with any term, provision or condition set forth in Sections 1005(ii) and (iii), 1006, 1007, 1008 and 1009 with respect to the Securities of any series and, if expressly provided pursuant to Section 301(19), any additional covenants applicable to the Securities of such series if before the time for such compliance the Holders of at least a majority in principal amount of the Outstanding Securities of such series, by Act of such Holders, either shall waive such compliance in such instance or generally shall have waived compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect.

 

Section 1011.  Company Statement as to Compliance.

 

The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, a written statement (which need not be contained in or accompanied by an Officers’ Certificate) signed by the principal executive officer, the principal financial officer or the principal accounting officer of the Company, stating whether or not, to the best of his or her knowledge, the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to notice requirements or periods of grace) and if the Company shall be in default, specifying all such defaults and the nature and status thereof of which he or she may have knowledge.

 

ARTICLE ELEVEN

 

REDEMPTION OF SECURITIES

 

Section 1101.  Applicability of Article.

 

Redemption of Securities of any series at the option of the Company as permitted or required by the terms of such Securities shall be made in accordance with the terms of such Securities and (except as otherwise provided herein or pursuant hereto) this Article.

 

  

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Section 1102.  Election to Redeem; Notice to Trustee.

 

The election of the Company to redeem any Securities shall be evidenced by or pursuant to a Board Resolution.  In case of any redemption at the election of the Company of less than all of the Securities of any series, the Company shall, at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed and, in the event that the Company shall determine that the Securities of any series to be redeemed shall be selected from Securities of such series having the same issue date, interest rate or interest rate formula, Stated Maturity and other terms (the “Equivalent Terms”), the Company shall notify the Trustee of such Equivalent Terms.

 

In the case of any redemption of Securities (A) prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture or (B) pursuant to an election of the Company which is subject to a condition specified in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate evidencing compliance with such restriction or condition.

 

Section 1103.  Selection by Trustee of Securities to be Redeemed.

 

If less than all of the Securities of any series are to be redeemed or if less than all of the Securities of any series with Equivalent Terms are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee from the Outstanding Securities of such series or from the Outstanding Securities of such series with Equivalent Terms, as the case may be, not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of portions of the principal amount of Registered Securities of such series; provided, however, that no such partial redemption shall reduce the portion of the principal amount of a Security of such series not redeemed to less than the minimum denomination for a Security of such series established herein or pursuant hereto.

 

The Trustee shall promptly notify the Company and the Security Registrar (if other than itself) in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed.

 

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

 

Unless otherwise specified in or pursuant to this Indenture or the Securities of any series, if any Security selected for partial redemption is converted or exchanged for Common Stock or other securities or property in part before termination of the conversion or exchange right with respect to the portion of the Security so selected, the converted or exchanged portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption.  Securities which have been converted or exchanged during a selection of Securities to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such selection.

 

  

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Section 1104.  Notice of Redemption.

 

Notice of redemption shall be given in the manner provided in Section 106, not less than 30 nor more than 60 days prior to the Redemption Date, unless a shorter period is specified in the Securities to be redeemed, to the Holders of Securities to be redeemed.  Failure to give notice by mailing in the manner herein provided to the Holder of any Registered Securities designated for redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect the validity of the proceedings for the redemption of any other Securities or portions thereof.

 

Any notice that is mailed to the Holder of any Registered Securities in the manner herein provided shall be conclusively presumed to have been duly given, whether or not such Holder receives the notice.

 

All notices of redemption shall state:

 

(1) the Redemption Date,

 

(2) the Redemption Price,

 

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

 

(4) that, in case any Security is to be redeemed in part only, on and after the Redemption Date, upon surrender of such Security, the Holder of such Security will receive, without charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining unredeemed,

 

(5) that, on the Redemption Date, the Redemption Price shall become due and payable upon each such Security or portion thereof to be redeemed, together (if applicable) with accrued and unpaid interest, if any, thereon (subject, if applicable, to the provisos to the first paragraph of Section 1106), and, if applicable, that interest thereon shall cease to accrue on and after said date,

 

(6) the place or places where such Securities, together (in the case of Bearer Securities) with all Coupons appertaining thereto, if any, maturing after the Redemption Date, are to be surrendered for payment of the Redemption Price and any accrued interest and Additional Amounts pertaining thereto,

 

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

 

(8) that, unless otherwise specified in such notice, Bearer Securities of any series, if any, surrendered for redemption must be accompanied by all Coupons maturing subsequent to the date fixed for redemption or the amount of any such missing Coupon or Coupons will be deducted from the Redemption Price, unless security or indemnity satisfactory to the Company, the Trustee and any Paying Agent is furnished,

 

  

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(9) if Bearer Securities of any series are to be redeemed and any Registered Securities of such series are not to be redeemed, and if such Bearer Securities may be exchanged for Registered Securities not subject to redemption on the Redemption Date pursuant to Section 305 or otherwise, the last date, as determined by the Company, on which such exchanges may be made,

 

(10) in the case of Securities of any series that are convertible or exchangeable into shares of Common Stock or other securities or property, the then current conversion or exchange price or rate, the date or dates on which the right to convert or exchange the principal of the Securities of such series to be redeemed will commence or terminate, as applicable, and the place or places where and the Persons to whom such Securities may be surrendered for conversion or exchange, and

 

(11) the CUSIP number, Common Code or ISIN number of such Securities, if any (or any other numbers used by a Depository to identify such Securities).

 

A notice of redemption published as contemplated by Section 106 need not identify particular Registered Securities to be redeemed.

 

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

 

Section 1105.  Deposit of Redemption Price.

 

On or prior to noon (local time in New York City) on any Redemption Date, the Company shall deposit, with respect to the Securities of any series called for redemption pursuant to Section 1104, with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money in the applicable Currency sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date, unless otherwise specified pursuant to Section 301 for or in the Securities of such series) any accrued interest on and Additional Amounts with respect to, all such Securities or portions thereof which are to be redeemed on that date.

 

Section 1106.  Securities Payable on Redemption Date.

 

Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified, together with (unless otherwise provided with respect to the Securities of such series pursuant to Section 301) accrued and unpaid interest, if any, thereon and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest, if any) such Securities shall cease to bear interest and the Coupons for such interest appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall be void.  Upon surrender of any such Security for redemption in accordance with said notice, together with all Coupons, if any, appertaining thereto maturing after the Redemption Date, such Security shall be paid by the Company at the Redemption Price, together with, unless otherwise provided in or pursuant to this Indenture, any accrued and unpaid interest thereon and Additional Amounts with respect thereto to but excluding the Redemption Date; provided, however, that, except as otherwise provided in or pursuant to this Indenture or the Bearer Securities of such series,  installments of interest on Bearer Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable only upon presentation and surrender of Coupons for such interest (at an Office or Agency located outside the United States except as otherwise provided in Section 1002), and provided, further, that, except as otherwise specified in or pursuant to this Indenture or the Registered Securities of such series, installments of interest on Registered Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the Regular Record Dates therefor according to their terms and the provisions of Section 307.

 

  

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If any Bearer Security surrendered for redemption shall not be accompanied by all appurtenant Coupons maturing after the Redemption Date, such Security may be paid after deducting from the Redemption Price or, at the option of the Company, after payment to the Trustee for the benefit of the Company of, an amount equal to the face amount of all such missing Coupons, or the surrender of such missing Coupon or Coupons may be waived by the Company and the Trustee if there be furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless.  If thereafter the Holder of such Security shall surrender to the Trustee or any Paying Agent any such missing Coupon in respect of which a deduction shall have been made from the Redemption Price, such Holder shall be entitled to receive the amount so deducted; provided, however, that any interest or Additional Amounts represented by Coupons shall be payable only upon presentation and surrender of those Coupons at an Office or Agency for such Security located outside of the United States except as otherwise provided in Section 1002.

 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium, until paid, shall bear interest from the Redemption Date at the rate prescribed therefor in the Security or, if no rate is prescribed therefor in the Security, at the rate of interest, if any, borne by such Security.

 

Section 1107.  Securities Redeemed in Part.

 

Any Registered Security which is to be redeemed only in part shall be surrendered at any Office or Agency for such Security (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Registered Security or Securities of the same series, containing identical terms and provisions, of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered and having the notation of the Guarantee of each Guarantor, if any, endorsed thereon.  If a Security in global form is so surrendered, the Company shall execute, and the Trustee shall authenticate and deliver to the Depository for such Security in global form as shall be specified in the Company Order with respect thereto to the Trustee, without service charge, a new Security in global form in a denomination equal to and in exchange for the unredeemed portion of the principal of the Security in global form so surrendered.

 

  

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ARTICLE TWELVE

 

SINKING FUNDS

 

Section 1201.  Applicability of Article.

 

The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise permitted or required in or pursuant to this Indenture or any Security of such series issued pursuant to this Indenture.

 

The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of Securities of such series is herein referred to as an “optional sinking fund payment”.  If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202.  Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series and this Indenture.

 

Section 1202.  Satisfaction of Sinking Fund Payments with Securities.

 

The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any series to be made pursuant to the terms of such Securities (1) deliver Outstanding Securities of such series (other than any of such Securities previously called for redemption or any of such Securities in respect of which cash shall have been released to the Company), together in the case of any Bearer Securities of such series with all unmatured Coupons appertaining thereto, and (2) apply as a credit Securities of such series which have been redeemed either at the election of the Company pursuant to the terms of such series of Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, provided that such Securities have not been previously so credited.  Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.  If as a result of the delivery or credit of Securities of any series in lieu of cash payments pursuant to this Section 1202, the principal amount of Securities of such series to be redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such series for redemption, except upon Company Request, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent shall at the request of the Company from time to time pay over and deliver to the Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Company to the Trustee of Securities of that series purchased by the Company having an unpaid principal amount equal to the cash payment requested to be released to the Company.

 

  

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Section 1203.  Redemption of Securities for Sinking Fund.

 

Not less than 75 days prior to each sinking fund payment date for any series of Securities, the Company shall deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that series pursuant to Section 1202, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and will also deliver to the Trustee any Securities to be so credited and not theretofore delivered.  If such Officers’ Certificate shall specify an optional amount to be added in cash to the next ensuing mandatory sinking fund payment, the Company shall thereupon be obligated to pay the amount therein specified.  Not less than 60 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 1104.  Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107.

 

ARTICLE THIRTEEN

 

REPAYMENT AT THE OPTION OF HOLDERS

 

Section 1301.  Applicability of Article.

 

Securities of any series which are repayable at the option of the Holders thereof before their Stated Maturity shall be repaid in accordance with the terms of the Securities of such series. The repayment of any principal amount of Securities pursuant to such option of the Holder to require repayment of Securities before their Stated Maturity, for purposes of Section 309, shall not operate as a payment, redemption or satisfaction of the indebtedness represented by such Securities unless and until the Company, at its option, shall deliver or surrender the same to the Trustee with a directive that such Securities be cancelled. If specified with respect to the Securities of a series as contemplated by Section 301, in connection with any repayment of Securities, the Company may arrange for the purchase of any Securities by an agreement with one or more investment bankers or other purchasers to purchase such Securities by paying to the Holders of such Securities on or before the applicable repayment date an amount not less than the repayment price payable by the Company on repayment of such Securities, and the obligation of the Company to pay the repayment price of such Securities shall be satisfied and discharged to the extent such payment is so paid by such purchasers.

 

Unless otherwise expressly stated in this Indenture or pursuant to Section 301 with respect to the Securities of any series or unless the context otherwise requires, all references in this Indenture to the repayment of Securities at the option of the Holders thereof (and all references of like import) shall be deemed to include a reference to the repurchase of Securities at the option of the Holders thereof.

 

  

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ARTICLE FOURTEEN

 

SECURITIES IN FOREIGN CURRENCIES

 

Section 1401.  Applicability of Article.

 

Whenever this Indenture provides for (i) any action by, or the determination of any of the rights of, Holders of Securities of any series in which not all of such Securities are denominated in the same Currency or (ii) any distribution to Holders of Securities of any series in which not all of such Securities are denominated in the same Currency, in the absence of any provision to the contrary in or pursuant to this Indenture or the Securities of such series, any amount in respect of any Security denominated in a Currency other than Dollars shall be treated for any such action, determination or distribution as that amount of Dollars that could be obtained for such amount on such reasonable basis of exchange and as of the record date with respect to Registered Securities of such series (if any) for such action, determination or distribution (or, if there shall be no applicable record date, such other date reasonably proximate to the date of such distribution) as the Company may specify in a written notice to the Trustee or, in the absence of such written notice, as the Trustee may determine.

 

ARTICLE FIFTEEN

 

MEETINGS OF HOLDERS OF SECURITIES

 

Section 1501.  Purposes for Which Meetings May Be Called.

 

A meeting of Holders of Securities of any series may be called at any time and from time to time pursuant to this Article to make, give or take any request, demand, authorization, direction, notice, consent, waiver or other Act provided by this Indenture to be made, given or taken by Holders of Securities of such series.

 

Section 1502.  Call, Notice and Place of Meetings.

 

(1) The Trustee may at any time call a meeting of Holders of Securities of any series for any purpose specified in Section 1501, to be held at such time and at such place in the Borough of Manhattan, The City of New York, or, if Securities of such series have been issued in whole or in part as Bearer Securities, in London or in such place outside the United States as the Trustee shall determine.  Notice of every meeting of Holders of Securities of any series, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting, shall be given, in the manner provided in Section 106, not less than 21 nor more than 180 days prior to the date fixed for the meeting.

 

  

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(2) In case at any time the Company (by or pursuant to a Board Resolution) or the Holders of at least 10% in aggregate principal amount of the Outstanding Securities of any series shall have requested the Trustee to call a meeting of the Holders of Securities of such series for any purpose specified in Section 1501, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have mailed notice of or made the first publication of the notice of such meeting within 21 days after receipt of such request (whichever shall be required pursuant to Section 106) or shall not thereafter proceed to cause the meeting to be held as provided herein, then the Company or the Holders of Securities of such series in the amount above specified, as the case may be, may determine the time and the place in the Borough of Manhattan, The City of New York, or, if Securities of such series are to be issued as Bearer Securities, in London for such meeting and may call such meeting for such purposes by giving notice thereof as provided in clause (1) of this Section.

 

Section 1503.  Persons Entitled to Vote at Meetings. 

 

To be entitled to vote at any meeting of Holders of Securities of any series, a Person shall be (1) a Holder of one or more Outstanding Securities of such series, or (2) a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Securities of such series by such Holder or Holders.  The only Persons who shall be entitled to be present or to speak at any meeting of Holders of Securities of any series shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any representatives of the Company and its counsel.

 

Section 1504.  Quorum; Action.

 

The Persons entitled to vote a majority in aggregate principal amount of the Outstanding Securities of a series shall constitute a quorum for a meeting or duly reconvened meeting of Holders of Securities of such series; provided, however, that if any action is to be taken at such meeting with respect to a consent or waiver which this Indenture expressly provides may be given by the Holders of a supermajority in aggregate principal amount of the Outstanding Securities of a series, the Persons entitled to vote the specified supermajority in aggregate principal amount of the Outstanding Securities of such series shall constitute a quorum.  In the absence of a quorum within 30 minutes after the time appointed for any such meeting, the meeting shall, if convened at the request of Holders of Securities of such series, be dissolved.  In any other case the meeting may be adjourned for a period of not less than 10 days as determined by the 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 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 1502(1), 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 principal amount of the Outstanding Securities of such series which shall constitute a quorum.

 

  

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Except as limited by the proviso to Section 902, any resolution presented to a meeting or adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted only by the affirmative vote of the Holders of a majority in principal amount of the Outstanding Securities of that series; provided, however, that, except as limited by the proviso to Section 902, any resolution with respect to any request, demand, authorization, direction, notice, consent,  waiver or other Act which this Indenture expressly provides may be made, given or taken by the Holders of a supermajority in aggregate principal amount of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly convened and at which a quorum is present as aforesaid only by the affirmative vote of the Holders of the specified supermajority in aggregate principal amount of the Outstanding Securities of that series; and provided, further, that, except as limited by the proviso to Section 902, any resolution with respect to any request, demand, authorization, direction, notice, consent, waiver or other Act which this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage, which is less than a majority, in principal amount of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote of the Holders of such lesser specified percentage in aggregate principal amount of the Outstanding Securities of such series.

 

Any resolution passed or decision taken at any meeting of Holders of Securities of any series duly held in accordance with this Section shall be binding on all the Holders of Securities of such series and the Coupons appertaining thereto, whether or not such Holders were present or represented at the meeting.

 

Section 1505.  Determination of Voting Rights; Conduct and Adjournment of Meetings.

 

(1) Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders of Securities of such series in regard to proof of the holding of Securities of such series 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.  Except as otherwise permitted or required by any such regulations, the holding of Securities shall be proved in the manner specified in Section 104 and the appointment of any proxy shall be proved in the manner specified in Section 104 or by having the signature of the person executing the proxy witnessed or guaranteed by any trust company, bank or banker authorized by Section 104 to certify to the holding of Bearer Securities.  Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in Section 104 or other proof.

 

(2) 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 Holders of Securities as provided in Section 1502(2), in which case the Company or the Holders of Securities of the series 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 vote of the Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at the meeting.

 

(3) At any meeting, each Holder of a Security of such series or proxy shall be entitled to one vote for each $1,000 principal amount of Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding.  If the Securities of such series are issuable in minimum denominations of less than $1,000, then a Holder of such a Security in a principal amount of less than $1,000 shall be entitled to a fraction of one vote which is equal to the fraction that the principal amount of such Security bears to $1,000.  The chairman of the meeting shall have no right to vote, except as a Holder of a Security of such series or proxy.

 

  

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(4) Any meeting of Holders of Securities of any series duly called pursuant to Section 1502 at which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at the meeting; and the meeting may be held as so adjourned without further notice.

 

Section 1506.  Counting Votes and Recording Action of Meetings.

 

The vote upon any resolution submitted to any meeting of Holders of Securities of any series shall be by written ballots on which shall be subscribed the signatures of the Holders of Securities of such series or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding Securities of such series held or represented by them.  The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in triplicate of all votes cast at the meeting.  A record, at least in triplicate, of the proceedings of each meeting of Holders of Securities of any series 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 given as provided in Section 1502 and, if applicable, Section 1504.  Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be delivered to the Company, and another 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.

 

ARTICLE SIXTEEN

 

GUARANTEE.

 

Section 1601.  Applicability of Article.

 

The provisions of this Article Sixteen shall be applicable only to, and inure solely to the benefit of, the Securities of any series designated, pursuant to Section 301, as being entitled to the benefits of the Guarantee of each of the Guarantors.  For purposes of this Article Sixteen, the term “Securities” means, with respect to the Securities of a series to which the provisions of this Article Sixteen shall be applicable, the Securities of such series.

 

Section 1602.  Guarantee.

 

(1) For value received, each Guarantor hereby fully and unconditionally (on a joint and several basis to the extent that there shall be more than one Guarantor) guarantees (each a “Guarantee”), to each Holder of a Security authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture or the Securities or the obligations of the Company or any other Guarantor to the Holders or the Trustee hereunder or thereunder, that:

 

  

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(a) the principal of, premium, if any, and interest on the Securities will be duly and promptly paid in full when due, whether at Stated Maturity, upon redemption, by acceleration or otherwise, and interest on the overdue principal and (to the extent permitted by law) interest, if any, on the Securities and all other obligations of the Company or the Guarantor to the Holders of or the Trustee hereunder or thereunder (including fees, expenses or others) (collectively, the “Obligations”) will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and

 

(b) in case of any extension of time of payment or renewal of any Obligations (with or without notice to such Guarantor), the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration or otherwise.

 

If the Company shall fail to pay when due, or to perform, any Obligations, for whatever reason, each Guarantor shall be jointly and severally obligated to pay in cash, or to perform or cause the performance of, the same promptly. An Event of Default under this Indenture or the Securities shall entitle the Holders of the Securities to accelerate the Obligations of the Guarantor hereunder in the same manner and to the same extent as the Obligations of the Company.

 

(2) Each Guarantor hereby agrees that its obligations hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Securities or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Securities with respect to any provisions of this Indenture or the Securities, any release of any other Guarantor, the recovery of any judgment against the Company, any action to enforce the same, whether or not a Guarantee is affixed to any particular Security, or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a Guarantor.

 

(3) Each Guarantor further agrees that, as between it, on the one hand, and the Holders of the Securities and the Trustee, on the other hand,

 

(a) the maturity of the Obligations guaranteed hereby may be accelerated as provided in Article Five of this Indenture for the purposes of the Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Obligations, and

 

(b) in the event of any acceleration of such Obligations as provided in Article Five of this Indenture, such Obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantor for the purposes of its Guarantee.

 

Section 1603. Waiver.

 

To the fullest extent permitted by applicable law, each of the Guarantors waives diligence, presentment, demand of, payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenants that the Guarantee will not be discharged except by complete performance of the Obligations contained in the Securities and this Indenture.

 

  

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Section 1604. Guarantee of Payment.

 

Each of the Guarantors further agrees that its Guarantee constitutes a guarantee of payment, performance and compliance when due and not a guarantee of collection, and waives any right to require that any resort be had by the Trustee or any Holder of the Securities to the security, if any, held for payment of the Obligations.

 

Section 1605. No Discharge or Diminishment of Guarantee.

 

Subject to Section 1611 of this Indenture, the obligations of each of the Guarantors hereunder shall not be subject to any reduction, limitation, termination, impairment or for any reason (other than the payment in full in cash of the Obligations), including any claim of waiver, release, surrender, alteration or compromise of any of the Obligations, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of the Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each of the Guarantors hereunder shall not be discharged or impaired or otherwise affected by the failure of the Trustee or any Holder of the Securities to assert any claim or demand or to enforce any remedy under this Indenture or the Securities, any other guarantee or any other agreement, by any waiver or modification of any provision thereof, by any default, failure or delay, willful or otherwise, in the performance of the Obligations, or by any other act or omission or delay to do any other act that may or might in any manner or to any extent vary the risk of any Guarantor or that would otherwise operate as a discharge of any Guarantor as a matter of law or equity (other than the payment in full in cash of all the Obligations).

 

Section 1606. Defenses of Company Waived.

 

To the extent permitted by applicable law, each Guarantor waives any defense based on or arising out of any defense of the Company or any other Guarantor or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability of the Company, other than final payment in full in cash of the Obligations. Each of the Guarantors waives any defense arising out of any such election even though such election operates to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of each of the Guarantors against the Company or any security.

 

Section 1607. Continued Effectiveness.

 

Subject to Section 1611 of this Indenture, each Guarantor further agrees that its Guarantee hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Obligation is rescinded or must otherwise be restored by the Trustee or any Holder of the Securities upon the bankruptcy or reorganization of the Company or otherwise.

 

  

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Section 1608. Subrogation.

 

In furtherance of the foregoing and not in limitation of any other right of each Guarantor by virtue hereof, upon the failure of the Company to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each Guarantors hereby promises to and will, upon receipt of written demand by the Trustee or any Holder of the Securities, forthwith pay, or cause to be paid, to the Holders in cash the amount of such unpaid Obligations, and thereupon the Holders shall, assign (except to the extent that such assignment would render a Guarantor a “creditor” of the Company within the meaning of Section 547 of Title 11 of the United States Code as now in effect or hereafter amended or any comparable provision of any successor statute) the amount of the Obligations owed to it and paid by such Guarantor pursuant to this Guarantee to such Guarantor, such assignment to be pro rata to the extent the Obligations in question were discharged by such Guarantor, or make such other disposition thereof as such Guarantor shall direct (all without recourse to the Holders, and without any representation or warranty by the Holders). If

 

(1) a Guarantor shall make payment to the Holders of all or any part of the Obligations and

 

(2) all the Obligations and all other amounts payable under this Indenture shall be paid in full,

 

the Trustee will, at such Guarantor’s request, execute and deliver to such Guarantor appropriate documents, without recourse and without representation or warranty, necessary to evidence the transfer by subrogation to such Guarantor of an interest in the Obligations resulting from such payment by such Guarantor.

 

Section 1609. Information.

 

Each Guarantor assumes all responsibility for being and keeping itself informed of the Company’s financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the Obligations and the nature, scope and extent of the risks that each of the Guarantors assumes and incurs hereunder, and agrees that the Trustee and the Holders of the Securities will have no duty to advise any Guarantor of information known to it or any of them regarding such circumstances or risks.

 

Section 1610. Subordination.

 

Upon payment by any Guarantor of any sums to the Holders, as provided above, all rights of such Guarantor against the Company, arising as a result thereof by way of right of subrogation or otherwise, shall in all respects be subordinated and junior in right of payment to the prior payment in full in cash of all the Obligations to the Trustee; provided, however, that any right of subrogation that such Guarantor may have pursuant to this Indenture is subject to Section 1608 hereof.

 

  

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Section 1611. Release of Guarantor.

 

(1) A Guarantor shall be automatically and unconditionally released and discharged from all obligations under this Indenture and its Guarantee without any action required on the part of the Trustee or any Holder:

 

(a) upon the sale, transfer or disposition of all or substantially all of the equity interests or assets of the Guarantor to another Person (other than to the Company, any of its Subsidiaries or Affiliates); or

 

(b) otherwise to the extent specified with respect to the Securities in the designation of the terms thereof pursuant to Section 301 hereof.

 

(2) A Guarantor shall be automatically and unconditionally released and discharged from all obligations under this Indenture and its Guarantee without any action required on the part of the Trustee or any Holder upon any defeasance with respect to the Securities in accordance with the provisions of Section 402(2) hereof.

 

(3) The Trustee shall deliver an appropriate instrument evidencing such release upon receipt of a request of the Company accompanied by an Officers’ Certificate certifying as to the compliance with this Section. Any Guarantor not so released will remain liable for the full amount of the principal of, premium, if any, and interest on the Securities provided with respect to such Securities in accordance with the terms thereof designated pursuant to Section 301 hereof.

 

Section 1612. Limitation of Guarantor’s Liability.

 

Each Guarantor, and by its acceptance hereof each Holder, hereby confirms that it is the intention of all such parties that the Guarantee by such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Title 11 of the United States Code, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any Guarantor. To effectuate the foregoing intention, the Holders and such Guarantor hereby irrevocably agree that the obligations of such Guarantor under this Indenture and its Guarantee shall be limited to the maximum aggregate amount which, after giving effect to all other contingent and fixed liabilities of such Guarantor, and after giving effect to any collections from or payments made by or on behalf of, any other Guarantor in respect of the obligations of such Guarantor under its Guarantee or pursuant to its contribution obligations under this Indenture, will result in the obligations of such Guarantor under its Guarantee not constituting such fraudulent transfer or conveyance.

 

Section 1613. Contribution from Other Guarantors.

 

Each Guarantor that makes a payment or distribution under its Guarantee shall be entitled to seek contribution from each other non-paying Guarantor, if any, in a pro rata amount based on the net assets of each Guarantor, determined in accordance with generally accepted accounting principles in effect in the United States of America as of the date hereof so long as the exercise of such right does not impair the rights of the Holders under the Guarantee.

 

  

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Section 1614. No Obligation to Take Action Against the Company.

 

Neither the Trustee, any Holder nor any other Person shall have any obligation to enforce or exhaust any rights or remedies or take any other steps under any security for the Obligations or against the Company or any other Person or any Property of the Company or any other Person before the Trustee, such Holder or such other Person is entitled to demand payment and performance by any or all Guarantors of their liabilities and obligations under their Guarantee.

 

Section 1615. Additional Guarantors.

 

If pursuant to the terms of the Securities as designated pursuant to Section 301 hereof there shall occur any event as a result of which any Subsidiary or Affiliate of the Company shall be required to become a Guarantor, then upon the occurrence of such event, then the Company shall promptly (but in any event, within two Business Days of the date on which such event shall occurred) cause such Subsidiary or Affiliate to become a Guarantor by causing such Subsidiary or Affiliate to execute and deliver an indenture supplemental hereto to the Trustee.

 

Section 1616. Execution and Delivery of the Guarantee.

 

(1) To further evidence the Guarantee set forth in this Article Thirteen, each Guarantor hereby agrees that a notation of such Guarantee in the form set forth in Annex A hereto shall be endorsed on each Security authenticated and delivered by the Trustee and executed by either manual or facsimile signature of an officer, manager or member, as applicable, of each Guarantor.

 

(2) Each of the Guarantors hereby agrees that its Guarantee set forth in this Article Thirteen shall remain in full force and effect notwithstanding any failure to endorse on each Security a notation of such Guarantee.

 

(3) The delivery of any Security by the Trustee, after the authentication thereof hereunder, shall constitute due and valid delivery of any Guarantee designated with respect to the Securities pursuant to Section 301 hereof on behalf of each Guarantor.

 

Section 1617. Successor Guarantor.

 

Unless otherwise released and discharged from its obligations in accordance with the provisions of this Article Sixteen and any other terms applicable with respect to the Securities designated pursuant to Section 301 hereof, upon any consolidation or merger by any Guarantor with or into any other Person, the successor Person formed by such consolidation or merger shall execute an indenture supplemental hereto and guarantee and succeed to, and be substituted for, and may exercise every right and power of, the Guarantor under this Indenture and the Securities with the same force and effect as if such successor Person had been named as a Guarantor herein, and thereafter the predecessor Person shall be relieved of all obligations and covenants under the Indenture and the Securities (to the extent the Guarantor was the predecessor Person).

 

  

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

 

J. B. HUNT TRANSPORT SERVICES, INC.

 

By: __________________________________________

Name:

Title:

 

J. B. HUNT TRANSPORT, INC.

 

By: __________________________________________                                                             

Name:

Title:

 

U.S. BANK NATIONAL ASSOCIATION,

 

as Trustee

 

By: __________________________________________

Name:

Title:

 

  

89

  

Annex A

NOTATION OF GUARANTEE

 

For value received, each undersigned Guarantor (which term includes any successor Person under the Indenture) has jointly and severally and fully and unconditionally guaranteed, to the extent set forth in the Indenture, among the Company, the Guarantors and the Trustee and subject to the provisions in the Indenture and the terms of the Securities, (a) the due and punctual payment in full when due of the principal of, premium, if any, and interest on the Securities and all other amounts due and payable under the Indenture and the Securities by the Company and (b) in case of any extension of time of payment or renewal of any Obligations (with or without notice to the Guarantor), that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration or otherwise. The obligations of the Guarantors to the Holders of Securities and to the Trustee pursuant to the Guarantee and the Indenture are expressly set forth in Article Sixteen of the Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee, including provisions for the release thereof. Each Holder of a Security, by accepting the same, (a) agrees to and shall be bound by such provisions and (b) appoints the Trustee attorney-in-fact of such Holder for the purpose of such provisions.

 

[GUARANTOR]

By: __________________________________________

Name:

Title:EXHIBIT 10.1 TO UROLOGIX, INC. FORM 8-K DATED SEPTEMBER 9, 2010

Exhibit 10.1

FIRST AMENDED AND RESTATED LEASE

BY AND BETWEEN

PARKERS LAKE I REALTY LLC,
as Landlord,

AND

UROLOGIX, INC.,
as Tenant

DATED: AS OF AUGUST 1, 2010

PROPERTY:          Parkers
Lake Pointe I, 14405
21st Avenue N., Plymouth, MN 55447

Execution Copy

FIRST
AMENDED AND RESTATED LEASE

          This FIRST
AMENDED AND RESTATED LEASE (the “Lease”) is made as of the 1st day
of August, 2010 by and between PARKER LAKE I REALTY LLC, a Delaware limited
liability company (“Landlord”), and UROLOGIX, INC., a Minnesota corporation, with
an address of 14405 21st Avenue N., Suite 111, Plymouth, MN 55447
(“Tenant”). 

RECITALS

          WHEREAS,
Tenant is currently leasing the Premises (as hereinafter defined) pursuant to a
certain Lease dated
January 20, 1992 by and between Parkers Lake Pointe I Limited Partnership (“LP”),
as landlord, and Tenant, as amended by Addendum to Lease Agreement dated
January 20, 1992 by and between LP and Tenant, Addendum to Lease Agreement
dated June 20, 1994 by and between LP and Tenant, Addendum to Lease Agreement
dated April 5, 1995 by and between LP and Tenant, Addendum to Lease Agreement
dated March 7, 1996 by and between LP and Tenant, Addendum to Lease Agreement
dated September 30, 1996 by and between LP and Tenant, Addendum to Lease
Agreement dated November 15, 1996 by and between LP and Tenant, Addendum to
Lease Agreement dated October 31, 1997 by and between LP and Tenant, Amendment
to Lease dated March 12, 1998 by and between Parkers Lake I Realty Corp.,
successor to LP (“Predecessor”) and Tenant, Amendment to Lease dated as
of March 26, 1998 by and between Predecessor and Tenant, Amendment of Lease
Agreement dated October 4, 2002 by and between Predecessor and Tenant, as
affected by Form of Consent to Sublease dated August 14, 2003 by and between
Predecessor, Tenant and Incisive Surgical, Inc., and as amended by Tenth
Amendment to Lease dated October 22, 2007 by and between Landlord, successor to
Predecessor, and Tenant (as amended and assigned, the “Original Lease”);
and

          WHEREAS,
Landlord and Tenant wish to replace, amend and restate, in its entirety, the
Original Lease with this Amended and Restated Lease (the “Lease”), all as set
forth herein.

ARTICLE I

BASIC TERMS

	
  

 	
  

 	
  

 
	
 TENANT:

 	
  

 	
 Urologix,
 Inc., a Minnesota corporation 

 
	
  

 	
  

 	
  

 
	
 TENANT’S NOTICE
 ADDRESS:

 	
  

 	
 The address
 of the Premises 

 
	
  

 	
  

 	
  

 
	
 LANDLORD’S
 NOTICE ADDRESS AND ADDRESS FOR PAYMENT OF RENT:

 	
  

 	
 c/o Great
 Point Investors LLC
Two Center
 Plaza, Suite 410

 Boston, MA 02108
Attn: Joseph A. Versaggi

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 with a copy
 to:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Northmarq
 Real Estate Services LLC

 3500 American Boulevard West, Suite 200

 Bloomington, MN 55431

 Attn: Lisa Dongoske

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Rent payments may be made by wire transfer pursuant to wiring
 instruction provided by Landlord for such purposes. Alternatively, rent
 payments shall be sent to:

 
	
  

 	
  

 	
 (a) by
 regular mail to:

 

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Parkers Lake
 I Realty LLC

 14577 Collections Center Drive

 Chicago, IL 60693

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (b) by
 overnight mail to:

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Bank of
 America Lockbox Services

 14577 Collections Center Drive

 Chicago, IL 60693

 
	
  

 	
  

 	
  

 
	
 PROPERTY:

 	
  

 	
 Parkers Lake Pointe I, 14405 21st Avenue, Plymouth, MN
 (the “Building”), together with the parking areas, landscaping, walkways and
 other improvements related to the Building, as described on Exhibit A.

 
	
  

 	
  

 	
  

 
	
 PREMISES:

 	
  

 	
 Approximately
 Twenty-Six Thousand Twelve (26,012) rentable square feet (16,471 of which is
 office space and 9,541 of which is warehouse space) located at the Building,
 commonly known as Suite 111, as shown on Exhibit B.

 
	
  

 	
  

 	
  

 
	
 PROPERTY
 RENTABLE AREA:

 	
  

 	
 Approximately Thirty-Nine Thousand Seven Hundred Seventy-Nine
 (39,779) rentable square feet.

 
	
  

 	
  

 	
  

 
	
 TENANT’S PRO
 RATA SHARE:

 	
  

 	
 65.4%

 
	
  

 	
  

 	
  

 
	
 LEASE TERM:

 	
  

 	
 Six (6) years beginning on the Lease Commencement Date and ending on
 the last day of the seventy-second (72nd) full calendar month
 thereafter.

 
	
  

 	
  

 	
  

 
	
 LEASE
 COMMENCEMENT DATE:

 	
  

 	
 August 1, 2010

 
	
  

 	
  

 	
  

 
	
 RENT
 COMMENCEMENT DATE:

 	
  

 	
 December 1,
 2010

 
	
  

 	
  

 	
  

 
	
 BASE RENT
 AND RENT PAYMENT PERIODS:

 	
  

 	
 (a) No Base
 Rent or Additional Rent shall be due, nor shall any such rent accrue, for the
 period commencing on August 1, 2010 through and including November 30, 2010.

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (b) From
 December 1, 2010 through and including July 31, 2011, eight equal monthly
 payments, each in the amount of $16,257.50;

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (c) From
 August 1, 2011 through and including July 31, 2012, $198,991.80 per year;
 $16,582.65 per month; and

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (d) From
 August 1, 2012 through and including July 31, 2013, $202,971.64 per year;
 $16,914.30 per month;

 

2

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (e) From
 August 1, 2013 through and including July 31, 2014, $207,031.07 per year;
 $17,252.59 per month;

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (f) From
 August 1, 2014 through and including July 31, 2015, $211,171.69 per year;
 $17,597.64 per month; and

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 (g) From
 August 1, 2015 through and including July 31, 2016, $215,395.12 per year;
 $17,949.59 per month.

 
	
  

 	
  

 	
  

 
	
 OCCUPANCY
 PERIOD:

 	
  

 	
 The period from the time Tenant first enters the Premises, throughout
 the Lease Term and thereafter as long as Tenant remains in the Premises.

 
	
  

 	
  

 	
  

 
	
 SECURITY
 DEPOSIT:

 	
  

 	
 $13,000 in
 cash, receipt of which is acknowledged.

 
	
  

 	
  

 	
  

 
	
 PERMITTED
 USES:

 	
  

 	
 Subject to applicable zoning, for general office, warehouse,
 research, development and manufacturing of medical devices, and for no other
 purpose whatsoever.

 
	
  

 	
  

 	
  

 
	
 BROKERS:

 	
  

 	
 Northmarq
 Real Estate Services LLC

 3500 American Boulevard West, Suite 200

 Bloomington, MN 55431

 Attn: Chris Garcia

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 and

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Cushman and
 Wakefield

 11095 Viking Dr., #240

 Eden Prairie, MN 55344 

 Attn: Jeff Minea

 
	
  

 	
  

 	
  

 
	
 PARKING
 SPACES:

 	
  

 	
 Eighty-Five
 (85) unreserved spaces

 

ARTICLE
II

LEASE TERM

	
  

 	
  

 
	
 2.1

 	
 LEASE OF
 PREMISES FOR LEASE TERM. 

 

Landlord hereby leases the Premises to Tenant and Tenant leases the
Premises from Landlord for the Lease Term, unless sooner terminated pursuant to
the terms hereof. Landlord and Tenant acknowledge and agree that the Tenant is
currently occupying the Premises pursuant to the terms and conditions of the
Original Lease.

	
  

 	
  

 
	
 2.2

 	
 EXTENSION OPTION.

 

Provided
that Urologix, Inc. is occupying one hundred percent (100%) of the Premises and
is not in Default under this Lease and no event or condition exists which with
notice and/or the expiration of any grace period would constitute a material
default under this Lease, both at the time the option may be exercised, and on the
commencement date of the Extension Term (as hereinafter defined), Landlord
grants to Tenant one (1) option (the “Extension Option”) to extend the term of
this Lease with respect to all of the Premises for an additional period of five
(5) years (the “Extension Term”). The Extension Option may be exercised by
Tenant delivering written notice to Landlord at least nine (9) months, but not
more than twelve (12) months, prior to the expiration date of the Term
(“Tenant’s Extension Notice”). Time is of the essence in the exercise of the
Extension Option.

3

The
annual Base Rent payable for the Extension Term (the “Extension Rental Rate”)
shall be one hundred (100%) percent of the market rental rate for comparable
space in comparable buildings in the general vicinity of the Building (with
respect to age, use, quality and location, but in no event less than the annual
Base Rent in effect during the last twelve (12) months of the then expiring
Term), and which may include a tenant improvement allowance and other lease
concessions, determined as follows:

In
the event Tenant timely exercises the Extension Option in accordance herewith,
within thirty (30) days after Landlord receives notice of Tenant’s exercise of
such Extension Option, Landlord shall notify Tenant in writing of Landlord’s
good faith determination of the Extension Rental Rate (“Landlord’s Extension Term
Rental Notice”). Tenant shall have fifteen (15) days from the date of
Landlord’s Extension Term Rental Notice to either accept or dispute Landlord’s
determination of the Extension Rental Rate. In the event that Tenant disputes
Landlord’s determination of the Extension Rental Rate, Tenant shall so notify
Landlord and advise Landlord of Tenant’s determination of the Extension Rental
Rate. If Landlord and Tenant cannot agree upon the Extension Rental Rate within
thirty (30) days of the date of Landlord’s Extension Term Rental Notice (the
“Negotiation Period”), Landlord and Tenant shall simultaneously exchange, on a
mutually agreeable date and time, within the following fifteen (15) days, on a
date determined by Landlord, statements setting forth each such party’s
conclusion regarding the Extension Rental Rate (each, a “Statement of Rental
Rate”); provided, however, that if one party has not submitted such statement
within forty-five (45) days after the date of Landlord’s Extension Term Rental
Notice, then the determination set forth in the other party’s statement shall
be final and binding upon both parties. If both parties receive the other
party’s statement of the Rental Rate within such time and the lesser of the
two (2) determinations is within five (5%) percent of the higher
determination, then Landlord’s determination shall conclusively be deemed to be
the Extension Rental Rate. If these determinations differ by more than five
(5%) percent, then Landlord and Tenant shall mutually select a real estate professional
with at least ten (10) years’ continuous experience in the business of
appraising or marketing multi-tenant office buildings in the greater
Minneapolis area (the “Valuation Expert”) to resolve the dispute as to the
Extension Rental Rate. If Landlord and Tenant cannot agree upon the designation
of the Valuation Expert within thirty (30) days of the exchange of the
Statements of Rental Rate, either party may apply to the American Arbitration
Association, the Minneapolis Real Estate Board, or any successor thereto, for
the designation of a Valuation Expert. Within ten (10) days of the selection of
the Valuation Expert, Landlord and Tenant shall each submit to the Valuation
Expert a copy of its Statement of Rental Rate, together with any supporting material.
The Valuation Expert shall not perform his own valuation, but rather, shall,
within thirty (30) days after receipt of such submissions, select as the
Extension Rental Rate the submission which the Valuation Expert concludes most
closely and accurately reflects the Extension Rental Rate for the Premises and
the rental rate set forth in that submission shall be the Extension Rental Rate
for such Extension Term (provided, however, that in no event shall the
Extension Rental Rate ever be less than the annual Base Rent for the preceding
twelve (12) months of the Term then expiring). The Valuation Expert shall give
notice of his or her determination to Landlord and Tenant and such decision
shall be final and conclusively binding upon Landlord and Tenant. Each party
shall pay the fees and expenses of any real estate professional such party
retains and such party’s counsel, if any, in connection with any proceeding
under this paragraph, and the party whose determination was determined by the
Valuation Expert not to most accurately and closely reflect the Extension
Rental Rate of the Premises shall pay the fees and expenses of the Valuation
Expert.

At Landlord’s request, Landlord and Tenant shall execute an amendment
to this Lease within thirty (30) days after the determination of the Extension
Rental Rate (in accordance with the procedure set forth above) for the
Extension Term, which amendment shall set forth the Extension Term, the
Extension Rental Rate, and all other terms and conditions for the Extension Term.

4

Except as set forth above, the Extension Term shall be subject to all
of the terms and conditions of this Lease; provided, however, that Tenant shall
have no further extension rights once it has exercised the Extension Option.

The Extension Term annual Base Rent shall be payable in equal monthly
installments in advance on or before the first day of each calendar month
during the Extension Term.

ARTICLE III

RENT

	
  

 	
  

 
	
 3.1

 	
 BASE RENT. 

 

Commencing on the Rent Commencement Date, on the first day of each
calendar month during the Lease Term, Tenant will pay to Landlord the Base Rent
in equal monthly installments, in lawful money of the United States, in advance
and without offset, deduction prior notice or demand. The Base Rent is payable
at Landlord’s Rent Payment Address or at such other place or to such other
person as Landlord may designate in writing from time to time. Payments of Base
Rent for any partial calendar month will be prorated. Base Rent for the first
month of the Term shall be paid on the date hereof.

	
  

 	
  

 
	
 3.2

 	
 ADDITIONAL RENT. 

 

All sums payable by Tenant under this Lease other than Base Rent are
“Additional Rent”; the term “Rent” includes both Base Rent and Additional Rent.
Landlord will estimate in advance and charge to Tenant the following costs (“Total
Operating Costs”), which Tenant will pay with the Base Rent, monthly,
commencing December 1, 2010, except as otherwise set forth herein: (i) all Real
Property Taxes for which Tenant is liable under Article 4, (ii) all utility
costs (to the extent utilities are not separately metered) for which Tenant is
liable under Article 5, (iii) all insurance premiums for which Tenant is liable
under Article 6 (provided that Tenant shall pay all costs of its own insurance
(as required by Section 6.1 hereof) directly to the appropriate insurance
company), and (iv) all Operating Expenses for which Tenant is liable under
Article 7 of this Lease. Landlord may adjust its estimates of Total Operating
Costs at any time based upon Landlord’s experience and reasonable anticipation
of costs. Such adjustments will be effective as of the next Rent payment date
after notice to Tenant (such notice to be accompanied by a written explanation
by Landlord of the justification for such adjustment). 

By the date that is ninety (90) days following the end of each fiscal
year (as established by Landlord) during the Term, Landlord will deliver to
Tenant a statement setting forth, in reasonable detail, the Total Operating
Costs paid or incurred by Landlord during the preceding twelve (12) months and
Tenant’s Pro Rata Share of such expenses (the “Total Operating Cost
Statement”). Within 30 days after Tenant’s receipt of such statement, and
subject to Section 3.4, there will be an adjustment between Landlord and
Tenant, with payment to or credit given by Landlord (as the case may be);
provided, however, if a credit is due to Tenant with respect to the last year
of the Term, the amount of such credit shall be refunded to Tenant. As of the
date hereof, Landlord’s “fiscal year” is the calendar year; provided, however,
Landlord reserves the right to change its fiscal year upon prior written notice
to Tenant of such change.

	
  

 	
  

 
	
 3.3

 	
 INTEREST AND LATE CHARGES. 

 

Any Rent due or other amount due to Landlord, if not paid within five
(5) days of the date due, will bear interest from the date due until paid, at
the rate of 15% per year, but not to exceed the highest rate legally permitted;
provided, however, if any amounts so due are not paid when due more than once
during any rolling twelve month period, commencing with the second such late
payment, interest shall begin to accrue on the date that any such amount is
due. In addition, if any installment of Rent due or any other sums due from
Tenant is not received by Landlord within 5 days following the due date, Tenant
will pay to Landlord a late charge equal to 5% of such overdue amount. The
parties hereby agree that such late charge represents a fair and reasonable
estimate of the costs Landlord will incur by reason of late payment by Tenant.

5

	
  

 	
  

 
	
 3.4

 	
 AUDIT RIGHTS.

 

At the request of Tenant at any time within sixty (60) days after
Landlord delivers the Total Operating Cost Statement to Tenant, Tenant (at
Tenant’s expense) shall have the right to examine Landlord’s books and records
applicable to Total Operating Costs for such year. Such right to examine
Landlord’s records shall be exercisable: (i) upon reasonable advance notice to
Landlord and at reasonable times during Landlord’s business hours; (ii) only
during the sixty-day period following Tenant’s receipt of Landlord’s statement
of the actual amount of Total Operating Costs for the applicable calendar year;
and (iii) not more than once each calendar year. At Tenant’s option, the audit
may be performed by Tenant’s in house accountant, and if such accountant finds
any inconsistencies between the Total Operating Cost Statement and its review
of Landlord’s books and records, Landlord and Tenant shall discuss and attempt
to resolve any issues raised by such Tenant’s accountant within the thirty (30)
day period following the conclusion of such accountant’s review. If after
thirty (30) days Landlord and Tenant have not resolved such issues, at Tenant’s
option, Tenant, at Tenant’s cost, may engage an independent certified public
accountant (that is not compensated on a contingency basis, and with which
Tenant has not had any business relationship within the five (5) year period
preceding the time of such review, and who has been reasonably approved by
Landlord) to conduct an audit of Total Operating Costs (which shall be
completed within the sixty (60) day time period referenced above, and otherwise
in accordance with the terms hereof). If the audit conducted by such
independent certified public accountant indicates that certain items were
improperly included in Total Operating Costs, then Landlord shall, within
thirty (30) days, refund the overage to Tenant. 

ARTICLE IV

PROPERTY TAXES

	
  

 	
  

 
	
 4.1

 	
 REAL PROPERTY TAXES. 

 

Commencing on the Rent Commencement Date, Tenant will pay Tenant’s Pro
Rata Share of Real Property Taxes allocable to the period commencing on the
Rent Commencement Date and throughout the Term. If Landlord receives a refund
of any Real Property Taxes with respect to which Tenant has paid Tenant’s Pro
Rata Share, Landlord will refund to Tenant Tenant’s Pro Rata Share of such
refund after deducting therefrom all related costs and expenses. “Real Property
Taxes” means taxes, assessments (special, betterment, or otherwise), levies,
fees, rent taxes, excises, impositions, charges, water and sewer rents and
charges, and all other government levies and charges, general and special,
ordinary and extraordinary, foreseen and unforeseen, which are imposed or
levied upon or assessed against the Property or any Rent or other sums payable
by any tenants or occupants thereof. Real Property Taxes include Landlord’s
costs and expenses of review and contesting any Real Property Tax. If at any
time during the Lease Term the present system of ad valorem taxation of real
property is changed by the authority then responsible for the imposition of
taxes in the City of Plymouth, Minnesota, so that in lieu of the whole or any
part of the ad valorem tax on real property, or in lieu of increases therein,
Landlord is assessed a capital levy or other tax on the gross rents received
with respect to the Property or a federal, state, county, municipal, or other
local income, franchise, excise or similar tax, assessment, levy, or charge
(distinct from any now in effect) measured by or based, in whole or in part,
upon gross rents or any similar substitute tax or levy, then all of such taxes,
assessments, levies or charges, to the extent so measured or based, will be
deemed to be a Real Property Tax.

6

	
  

 	
  

 
	
 4.2

 	
 PERSONAL PROPERTY TAXES. 

 

Tenant will pay directly all taxes charged against trade fixtures,
furnishings, equipment, inventory or any other personal property belonging to
Tenant. Tenant will use its best efforts to have personal property taxed
separately from the Property. If any of Tenant’s personal property is taxed
with the Property, Tenant will pay Landlord the taxes for such personal
property within 15 days after Tenant receives a written statement from Landlord
for such personal property taxes.

ARTICLE V

UTILITIES

	
  

 	
  

 
	
 5.1

 	
 UTILITIES. 

 

Tenant will promptly pay, directly to the appropriate supplier, the
cost of all natural gas, heat, cooling, energy, light, power, sewer service,
telephone, water, refuse disposal and other utilities and services supplied to
the Premises, together with any related installation or connection charges or
deposits (collectively, “Utility Costs”) incurred during the Occupancy Period.
If any services or utilities are jointly metered with other premises, Landlord
will make a reasonable determination of Tenant’s proportionate share of such
Utility Costs and Tenant will pay such share to Landlord. Landlord reserves the
right to participate in wholesale energy purchase programs and to provide
energy to the Premises through such programs so long as the cost to Tenant is
competitive. 

ARTICLE VI

INSURANCE

	
  

 	
  

 
	
 6.1

 	
 TENANT’S INSURANCE. 

 

Tenant, at its expense, will maintain the following insurance coverages
during the Occupancy Period:

          (a)          Liability
Insurance. Commercial general liability insurance insuring Tenant against
liability for bodily injury, property damage (including loss of use of
property) and personal injury at the Premises, including liability assumed
under contract. Such insurance will name Landlord, its property manager, any
mortgagee, and Great Point Investors LLC, as additional insured under all such
policies. The initial amount of such insurance will be Five Million Dollars
($5,000,000) per occurrence and in the aggregate during the Initial Term. Such
limits may be achieved by a combination of primary and excess or umbrella
policies, and, during the Extension Term, will be subject to periodic increases
reasonably specified by Landlord based upon inflation, increased liability
awards, recommendations of Landlord’s professional insurance advisers, and
other relevant factors. The liability insurance obtained by Tenant under this
Section 6.1 will (i) be primary and (ii) insure Tenant’s obligations to
Landlord under Section 6.4. The amount and coverage of such insurance will not
limit Tenant’s liability nor relieve Tenant of any other obligation under this
Lease. 

          (b)          Worker’s
Compensation Insurance and Employers’ Liability Insurance. Worker’s
Compensation Insurance in the statutory amount and employers’ liability
insurance with limits of not less than Five Hundred Thousand Dollars ($500,000)
each accident for bodily injury by accident and Five Hundred Thousand Dollars
($500,000) each employee for bodily injury by disease covering all employees of
Tenant employed or performing services at the Premises, in order to provide the
statutory benefits required by the laws of the state in which the Premises are
located.

          (c)          Automobile
Liability Insurance. Automobile Liability Insurance on all owned,
non-owned, and hired vehicles used in connection with the Premises, with a
combined single limit per occurrence of not less than One Million Dollars
($1,000,000) for injuries or death of one or more persons or loss or damage to
property.

7

          (d)          Property
Insurance. Property Insurance covering leasehold improvements, trade
fixtures and personalty within the Premises in an amount not less than 100% of
the full replacement cost, without deduction for depreciation, providing
protection against events protected under ISO CP 10 30 Special Form (formerly
“All Risk Coverage”). Landlord shall be named as loss payee under said policy.

          (e)          Business
Interruption Insurance. Business Interruption Insurance providing in the
event of damage or destruction of the Premises an amount sufficient to sustain
Tenant for a period of not less than one year for: (i) the net profit that
would have been realized has Tenant’s business continued; and (ii) such fixed
charges and expenses as must necessarily continue during a total or partial
suspension of business to the extent to which they would have been incurred had
no business interruption occurred, including, but not limited to, interest on
indebtedness of Tenant, salaries of executives, foremen and other employees
under contract, charges under noncancelable contracts, charges for advertising,
legal or other professional services, taxes and rents that may still continue
and insurance premiums.

	
  

 	
  

 
	
 6.2

 	
 LANDLORD’S INSURANCE. 

 

During the Lease Term, Landlord will maintain in effect coverage no
less broad than ISO CP 10 30 Special Form (formerly “all risk”) covering loss
of or damage to the Property in the amount of its replacement value with such
endorsements and deductibles as Landlord determines from time to time. Landlord
will have the right to obtain flood, earthquake, and such other insurance as
Landlord reasonably determines from time to time or is required by any
mortgagee of the Property. Landlord will not insure Tenant’s fixtures or
equipment or leasehold improvements installed or paid by Tenant. Landlord will
obtain commercial general liability insurance in an amount and with coverage
determined by Landlord and written on an “occurrence basis” insuring Landlord
against liability with respect to the Premises and the Property. The policy
obtained by Landlord will not provide primary insurance and will not be
contributory with any liability insurance maintained by Tenant. Landlord may
also maintain a rental income insurance policy, with loss payable to Landlord.
Commencing on the Rent Commencement Date, Tenant will pay Tenant’s Pro Rata
Share of premiums and any deductibles for/in connection with the insurance
policies maintained by Landlord. Any increase in the cost of Landlord’s
insurance due to Tenant’s use or activities at the Premises will be paid by
Tenant to Landlord as Additional Rent.

	
  

 	
  

 
	
 6.3

 	
 GENERAL INSURANCE PROVISIONS.

 

          (a) Any
insurance which Tenant is required to maintain under this Lease will include a
provision which requires the insurance carrier to give Landlord not less than
30 days’ written notice prior to any cancellation or modification of such
coverage.

          (b) Prior
to the earlier of Tenant’s entry into the Premises or the Lease Commencement
Date, Tenant will deliver to Landlord certificate of insurance certifying that
Tenant maintains the insurance required by Section 6.1 and not less than 30
days prior to the expiration or termination of any such insurance, Tenant will
deliver to Landlord renewal certificates therefor. Tenant will provide Landlord
with copies of the policies promptly upon request from time to time. 

          (c) All
insurance policies required under this Lease will be with companies having a
Rating of A-; X or better, as set forth in the most current issue of the Best
Key Rating Guide.

8

          (d) Without
limiting the provisions of Section 6.4, Landlord and Tenant, on behalf of
themselves and their insurers, each hereby waives any and all rights of
recovery against the other, the agents, advisors, employees, members, officers,
directors, partners, trustees, beneficiaries and shareholders of the other and
the agents, advisors, employees, members, officers, directors, partners,
trustees, beneficiaries and shareholders of each of the foregoing
(collectively, “Representatives”), for loss of or damage to its property or the
property of others under its control, to the extent that such loss or damage is
covered by any insurance policy in force (whether or not described in this Lease)
at the time of such loss or damage, or required to be carried under this
Article 6. All property insurance carried by either party will contain a waiver
of subrogation against the other party to the extent such right was waived by
the insured party prior to the occurrence of loss or injury. 

	
  

 	
  

 
	
 6.4

 	
 WAIVER AND INDEMNITY. 

 

(a)      Notwithstanding anything to the
contrary in this Lease, Landlord and Tenant hereby release one another and
their respective partners, officers and employees and property manager from any
and all liability (to the other or anyone claiming through or under them by way
of subrogation or otherwise) for any loss or damage covered by property
insurance or coverable by a customary form of policy of the insurance required
by Section 6.1(a-e) or 6.2, even if such loss or damage shall have been caused
by the fault or negligence of the other party, or anyone for whom such party
may be responsible, provided, however, as set forth above, Tenant’s liability
insurance shall be primary. Further, Landlord will not be liable for any damage
or injury to the person, business (or any loss of income therefrom), goods,
wares, merchandise or other property of Tenant, Tenant’s employees, invitees,
customers or any other person or about the Property, whether such damage or
injury is caused by or results from: (a) fire, steam, electricity, water, gas
or rain; (b) the breakage, leakage, obstruction or other defects of pipes,
sprinklers, wires, appliances, plumbing, air conditioning or lighting fixtures
or any other cause; (c) conditions arising in or about the Property, or from
other sources or places; (d) any curtailment or interruption in utility
services or (e) any act or omission of any other tenant of the Property. Tenant
will give Landlord prompt notice upon the occurrence of any accident or
casualty at the Premises.

(b)      Notwithstanding anything apparently to
the contrary in this Lease, Landlord and its partners, officers and employees
and property manager shall not be liable to Tenant, and Tenant hereby releases
such parties from all damage, compensation or claims from any cause other than
the intentional misconduct of Landlord or its partners, officers or employees
or property manager arising from: loss or damage to personal property or trade
fixtures in the Premises including books, records, files, computer equipment,
computer data, money, securities, negotiable instruments or other papers; lost
business or other consequential damage arising out of interruption in the use
of the Premises; and any criminal act by any person other than Landlord or its
partners, officers or employees.

(c)      Tenant agrees to indemnify, defend and
hold Landlord and its partners, officers and employees and property manager
harmless from and against any claim, loss or expense arising out of (i) injury,
death or property loss or damage occurring in the Premises or arising from the
use or occupancy thereof, except only to the extent caused by the negligent act
or intentional misconduct of Landlord or its partners, officers or employees or
property manager, (ii) the negligence or willful misconduct of Tenant in, upon
or about the Property, or (iii) any breach or default by Tenant under this
Lease. .

(d)      Landlord agrees to indemnify, defend
and hold Tenant and its partners, officers and employees harmless from and
against any claim, loss or expense arising out of any act of negligence of
Landlord, except to the extent caused by the negligent act or intentional
misconduct of Tenant or its partners, officers or employees. This indemnity
does not cover claims arising from the presence or release of Hazardous Materials.

9

ARTICLE VII

OPERATING EXPENSES

	
  

 	
  

 
	
 7.1

 	
 OPERATING EXPENSES. 

 

          Commencing
on the Rent Commencement Date, Tenant will pay Tenant’s Pro Rata Share of all
“Operating Expenses” (as herein defined) allocable to the period commencing on
the Rent Commencement Date and throughout the Term. “Operating Expenses” means
all costs and expenses incurred by Landlord with respect to the ownership, maintenance and
operation of the Property including, but not limited to: maintenance, repair
and replacement of the heating, ventilation, air conditioning (if such HVAC
serves the entire Building, as opposed to tenant space only), plumbing,
electrical, mechanical, utility and safety systems, paving and parking areas,
roads and driveways; maintenance of exterior areas such as gardening and
landscaping, snow removal and signage; maintenance and repair of roof membrane,
flashings, gutters, downspouts, roof drains, skylights and waterproofing;
painting; lighting; cleaning; refuse removal; security; utility services attributable
to the Common Areas (as defined below); Property personnel costs; personal
property taxes; rentals or lease payments paid by Landlord for rented or leased
personal property used in the operation or maintenance of the Property; fees
for required licenses and permits; and a property management fee. Operating
Expenses do not include: (a) expenditures for capital improvements except (i)
those which Landlord anticipates will have the effect of reducing current
and/or future Operating Expenses or the rate of increase in Operating Expenses,
and (ii) those required by Legal Requirements or insurance requirements not in
effect at the time the Property was constructed, and in each case amortized
over such reasonable period as Landlord shall determine together with interest
at the “Prime Rate” as published in the Wall
Street Journal, plus 4% per annum (the “Interest Rate”) on the
unamortized balance; (b) debt service under mortgages; (c) costs of restoration
to the extent of net insurance proceeds received by Landlord; (d) leasing
commissions and tenant improvement costs; (e) litigation expenses relating to
disputes with tenants; (f) costs of the Valuation Expert and other real estate
professionals engaged by Landlord under Section 2.2 hereof; and (g) costs for roof
replacement. Notwithstanding the foregoing, if an expenditure for capital
improvements will be included in Operating Expenses as described in (a) above,
at Tenant’s option, Tenant may pay the entire amount of its Pro Rata Share of
such expenditure when such costs are first included in Operating Expenses
(rather than the annual amortized amount as set forth above).

ARTICLE VIII

USE OF PREMISES

	
  

 	
  

 
	
 8.1

 	
 MANNER OF
 USE. 

 

Tenant will use the Premises only for the Permitted Uses. Tenant will
not cause or permit the Premises to be used in any way which (i) constitutes a
violation of any Legal Requirements (as defined below) or the rules and
regulations (the “Rules and Regulations”) established by Landlord, a copy of
which is attached as Exhibit C, as they may be amended in writing by
Landlord, (ii) annoys or interferes with the rights of tenants of the Property,
or (iii) constitutes a nuisance or waste or will invalidate any insurance
carried by Landlord. Tenant will obtain and pay for all necessary permits, including
a certificate of occupancy, and will promptly take all actions necessary to
comply with all applicable Federal, State or local statutes, ordinances, notes,
regulations, orders, recorded declarations, covenants and requirements
(collectively, “Legal Requirements”) regulating the use by Tenant of the
Premises, including, without limitation, the Occupational Safety and Health Act
and the Americans With Disabilities Act; provided, however, Tenant shall not be
required to make any structural modifications to the Building unless such
modifications are required as a result of Tenant’s particular use of the
Premises.

	
  

 	
  

 
	
 8.2

 	
 ENVIRONMENTAL
 REQUIREMENTS. 

 

          (a)          Definition
of “Hazardous Material”. “Hazardous Material” means any flammable items,
explosives, radioactive materials, oil, hazardous or toxic substances, material
or waste or related materials, including any substances defined as or included
in the definition of “hazardous substances”, “hazardous wastes”, “hazardous
materials” or “toxic substances” now or hereafter regulated under any Legal
Requirements, including without limitation petroleum-based products, paints,
solvents, lead, cyanide, DDT, printing inks, acids, pesticides, ammonia
compounds and other chemical products, asbestos, PCBs and similar compounds,
and including any different products and materials which are found to have
adverse effects on the environment or the health and safety of persons;
provided, however, “Hazardous Material” does not include any de minimis
quantities of office or other cleaning supplies commonly used in accordance
with Legal Requirements. 

10

          (b)          Tenant’s
Obligations. Tenant will not cause or permit any Hazardous Material to be
generated, produced, brought upon, used, stored, treated or disposed of in or
about the Property by Tenant, its agents, employees, contractors, sublessees or
invitees without (i) the prior written consent of Landlord, and (ii) complying
with all applicable Legal Requirements pertaining to the transportation, storage,
use or disposal of such Hazardous Material (collectively, “Environmental
Laws”), including, but not limited to, obtaining proper permits. Landlord is
entitled to take into account such other factors or facts Landlord deems
reasonably relevant in granting or withholding consent to Tenant’s proposed
activity with respect to Hazardous Material. 

If Tenant’s transportation, storage, use or disposal of Hazardous
Materials results in the contamination of the soil or surface or ground water,
release of a Hazardous Material or loss or damage to person(s) or property or
the violation of any Environmental Law, then Tenant agrees to: (x) notify
Landlord immediately of any contamination, claim of contamination, release,
loss or damage, (y) after consultation with Landlord, clean up the
contamination in full compliance with all Environmental Laws and (z) indemnify,
defend and hold Landlord harmless from and against any claims, suits, causes of
action, costs and fees, including, without limitation, attorney’s fees and
costs, arising from or connected with any such contamination, claim of
contamination, release, loss or damage. Tenant will fully cooperate with
Landlord and provide such documents, affidavits and information as may be
requested by Landlord (A) to comply with any Environmental Law, (B) to comply
with the request of any lender, purchaser or tenant, and/or (C) as otherwise
deemed reasonably necessary by Landlord in its discretion. Tenant will notify
Landlord promptly in the event of any spill or other release of any Hazardous
Material at, in, on, under or about the Premises which is required to be
reported to a governmental authority under any Environmental Law, will promptly
forward to Landlord copies of any notices received by Tenant relating to
alleged violations of any Environmental Law, will promptly pay when due any
fine or assessment against Landlord, Tenant or the Property and remove or bond
any lien filed against the Property relating to any violation of Tenant’s
obligations with respect to Hazardous Material.

          (c)          Landlord’s
Rights. Landlord will have the right, but not the obligation, without in
any way limiting Landlord’s other rights and remedies under this Lease, to
enter upon the Premises, or to take such other actions as it deems necessary or
advisable, to investigate, clean up, remove or remediate any Hazardous Material
or contamination by Hazardous Material present on, in, at, under or emanating
from the Premises or the Property in violation of Tenant’s obligations under
this Lease or under any laws regulating Hazardous Material or that Tenant is
liable under this Lease to clean up, remove or remediate. After prior written
notice to Tenant, and if Landlord has reasonably determined that Tenant is not
satisfactorily negotiating, defending, approving or appealing any such
governmental action or order, Landlord will have the right, at its election, in
its own name or as Tenant’s agent, to negotiate, defend, approve and appeal, at
Tenant’s expense, any action taken or order issued by any governmental agency
or authority against Tenant, Landlord or the Premises or the Property relating
to any Hazardous Material or under any related law or the occurrence of any
event or existence of any condition that would cause a breach of any of the covenants
set forth in this Section 8.2.

If Landlord determines in good faith that a release or other
environmental condition may have occurred during the Occupancy Period, at
Tenant’s cost, Landlord may require an environmental audit of the Premises by a
qualified environmental consultant. Tenant will, at it sole cost and expense,
take all actions recommended in such audit to remediate any environmental
conditions for which it is responsible under this Lease.

	
  

 	
  

 
	
 8.3

 	
 LANDLORD’S
 ACCESS. 

 

Landlord or its agents may enter the Premises, upon 24 hours notice to
Tenant (except in the case of an emergency), to show the Premises to potential
buyers, investors or tenants or other parties, for routine property inspections
and maintenance or for any other purpose Landlord deems reasonably necessary. During the last 9 months of the Lease Term, Landlord may place
customary “For Lease” signs on the Premises.

11

	
  

 	
  

 
	
 8.4

 	
 COMMON
 AREAS. 

 

          (a)          Common
Areas. “Common Areas” means all areas within the Property which are
available for the common use of tenants of the Property and which are not
leased or held for the exclusive use of Tenant or other tenants, including, but
not limited to, parking areas, driveways, sidewalks, access roads, landscaping,
and planted areas. Landlord, from time to time, may change the size, location,
nature, and use of any of the Common Areas, convert Common Areas into leaseable
areas, construct additional parking facilities in the Common Areas, and
increase or decrease Common Area land or facilities so long as Tenant’s use of
the Premises is not materially affected.

          (b)          Use
of Common Areas. Tenant will have the non-exclusive right (in common with
other tenants and all others to whom Landlord has granted or may grant such
rights) to use the Common Areas, including the Parking Spaces, for the purposes
intended, subject to such reasonable rules and regulations as Landlord may
establish or modify from time to time. Tenant agrees to abide by all such rules
and regulations and to use its best efforts to cause others who use the Common
Areas with Tenant’s express or implied permission to abide by the Rules and
Regulations. At any time, Landlord may close any Common Areas to perform any
acts as, in Landlord’s reasonable judgment, are desirable to maintain or
improve the Property. Tenant will not interfere with the rights of Landlord,
other tenants, or any other person entitled to use the Common Areas. 

          (c)          Parking.
Tenant shall be entitled to park in common with other tenants of Landlord, and
receive three and three tenths (3.3) nonreserved, unassigned parking spaces for
every 1,000 square feet of rentable area of the Premises (i.e., eighty-five
(85) spaces as of the date hereof). Tenant agrees not to overburden the parking
facilities, agrees to cooperate with Landlord and other tenants in the use of
parking facilities, and to abide by all rules and regulations regarding the use
of such parking facilities as may now exist, or as may hereinafter be
promulgated by Landlord. Said parking spaces shall be used for parking by
vehicles no larger than full-size passenger automobiles or pick-up trucks,
herein called “Permitted Size Vehicles.” Vehicles other than Permitted Size
Vehicles shall be parked and loaded or unloaded as directed by Landlord.
Landlord reserves the right, in its absolute discretion, to determine whether
parking facilities are becoming overcrowded, and in such event, to allocate
parking spaces among tenants or to designate areas within which Tenant must
park. Landlord further reserves the right to modify, restripe, and otherwise
change the location of drives and parking spaces. Tenant and Tenant’s
employees, visitors and customers assume all responsibility for damage and
theft to vehicles. Tenant shall repair or cause to be repaired, at Tenant’s
sole cost and expense, any and all damage to the buildings on the Property
caused by Tenant’s, or Tenant’s employees’, visitors’ or customers’ use of such
parking areas thereon.

ARTICLE IX

CONDITION AND MAINTENANCE OF PREMISES

	
  

 	
  

 
	
 9.1

 	
 EXISTING
 CONDITIONS. 

 

Tenant is currently occupying the Premises pursuant to the terms of the
Original Lease, and hereby accepts the Property and the Premises in their
present condition, subject to all Legal Requirements. Tenant acknowledges that
neither Landlord nor any agent of Landlord has made any representation as to
the condition of the Property or the suitability of the Property for Tenant’s
intended use, and except as specifically set forth herein, no agreement of
Landlord to alter, remodel, decorate, clean or improve the Premises or Property
(or to provide Tenant with any credit or allowance for the same), have been
made by or on behalf of Landlord or relied upon by Tenant. Tenant represents
and warrants that Tenant has made its own inspection of and inquiry regarding the condition of the
Property and is not relying on any representations of Landlord or any broker
with respect thereto. 

12

	
  

 	
  

 
	
 9.2

 	
 LANDLORD’S
 OBLIGATIONS. 

 

Subject to the provisions of Article 10 (Casualty and Condemnation) and
Tenant’s obligation to pay Additional Rent pursuant to Section 3.2, and except
for damage caused by any act or omission of Tenant or Tenant’s employees,
agents, contractors or invitees, Landlord will maintain the Common Areas in
good order, condition and repair and will keep the foundation, roof, building
systems (other than the heating, ventilating and air conditioning system which
serve tenant spaces, which shall be maintained by such tenants), structural
supports and exterior walls of the Property in good order, condition and
repair. Landlord will not be obligated to maintain or repair windows, doors or
plate glass. Tenant will promptly report in writing to Landlord any defective
condition known to it which Landlord is required to repair. Landlord will
repair, at Tenant’s expense, any damage to the Property caused by Tenant’s acts
or omissions which is Landlord’s maintenance responsibility.

	
  

 	
  

 
	
 9.3

 	
 TENANT’S
 OBLIGATIONS. 

 

Subject to the provisions of Article 10 (Casualty and Condemnation), at
its sole cost and expense, Tenant will keep all portions of the Premises
(including without limitation, all systems and equipment, i.e., HVAC systems,
dock levelers, bumpers, doors and floors including slabs and slab repairs,
crack filling and joint repairs) in good order, condition and repair (including
repainting and refinishing, as needed). If any portion of the Premises or any
system or equipment in the Premises which Tenant is obligated to repair cannot
be fully repaired or restored, Tenant will promptly replace such portion of the
Premises or system or equipment. Tenant will maintain a preventive maintenance
contract providing for the regular inspection and maintenance of the heating
and air conditioning system by a heating and air conditioning contractor, such
contract and contractor to be reasonably approved by Landlord. At Tenant’s
request, Landlord will perform Tenant’s maintenance and repair obligations
under this Section 9.03 and Tenant will reimburse Landlord for all costs
incurred in doing so promptly upon receipt of an invoice from Landlord.
Notwithstanding the above, in the event that, despite Tenant’s maintenance of
the HVAC system as set forth above, an HVAC professional determines that the
HVAC units and equipment serving the Premises require replacement during the
Lease Term, Landlord (notwithstanding any contrary provisions contained herein)
shall replace such HVAC system with the cost thereof to be amortized, at the
Interest Rate, over the lesser of the useful life of such HVAC equipment and
ten (10) years, and paid in equal monthly installment by Tenant to Landlord
with Tenant’s monthly payments of rent hereunder; provided, however, such
annual amortized payment shall not exceed $800.00 (which amount shall be
increased annually by the percentage change in the CPI over the prior twelve
month period), provided that no payments shall be due after the expiration of
the Lease Term. At Tenant’s option, however, Tenant may either replace the HVAC
equipment on its own, or upon replacement thereof, reimburse Landlord for the
cost thereof in one lump sum payment (in which case the $800.00 annual cap
shall not apply), but less such portion of the cost allocable (based on the
useful life of such HVAC system) to the period of time after the expiration of
the Lease Term (provided, however, any such amount shall be paid to Landlord if
the Lease Term in extended beyond the Lease Term set forth in this Lease). 

As used herein, the term “CPI” means the Consumer Price Index
for All Urban Consumers (CPI-U), Minneapolis-St. Paul, MN-WI (1982-84=100), All
Items, as issued by the U.S. Department of Labor, Bureau of Labor Statistics.
If the Department of Labor ceases to issue the CPI, the Landlord may reasonably
select a substitute index or measure of cost of living to calculate the
appropriate cost of living increase.

13

	
  

 	
  

 
	
 9.4

 	
 ALTERATIONS,
 ADDITIONS, AND IMPROVEMENTS.

 

          (a)          Tenant’s
Work. Tenant may not make any installations, alterations, additions, or
improvements or major repairs in or to the Premises without obtaining
Landlord’s prior written consent. All work will be performed in accordance with
plans and specifications approved by Landlord. Tenant will procure all
necessary permits and licenses before undertaking any work on the Premises and
will perform all work in a good and workmanlike manner employing materials of
good quality and in conformity with all applicable Legal Requirements and
insurance requirements. Tenant will (i) employ only contractors reasonably
approved by Landlord, (ii) require all contractors employed by Tenant to carry
worker’s compensation insurance in accordance with statutory requirements and
commercial general liability insurance covering such contractors on or about
the Premises with a combined single limit not less than $3,000,000 and (iii)
submit certificates evidencing such coverage to Landlord prior to the
commencement of any work. Landlord may inspect Tenant’s work at reasonable
times. Tenant will prosecute and complete such work with reasonable diligence and
will provide Landlord with “as built” plans, copies of all construction
contracts and proof of payment for all labor and materials.

          (b)          Tenant
Improvement Allowance. Notwithstanding anything to the contrary contained
herein, provided Tenant is not then in default of any of the terms, conditions,
and covenants of the Lease, Landlord shall contribute up to $185,000.00 (the
“Tenant Improvement Allowance”) toward the cost of the following improvements
to the Premises: new carpeting, painting, installation of new lighting, HVAC
repairs/replacement (the “Tenant Work”), and architectural costs in connection
with such improvements. The Tenant Improvement Allowance may not be used to pay
any costs associated with any water availability charges or sewer availability
charges. If any ADA upgrades are required in connection with the Tenant Work,
Landlord shall be responsible for payment of the cost thereof, provided that
Tenant has notified Landlord of such costs, and Landlord has approved such costs.
In addition, Tenant shall either obtain a second bid for the Tenant Work, or
engage in a value engineering process for its existing plan. If either of these
results in costs savings, such that the cost of the Tenant Work is less than
$185,000, cost savings, up to $50,000.00, shall be equally divided between
Landlord and Tenant; any total costs savings of greater than $50,000.00 shall
be shared $25,000.00 to Tenant, and any remaining to Landlord1. The
Tenant Work shall be performed by Tenant in accordance with the terms and
provisions of this Lease, and in a good and
workmanlike manner by properly qualified and licensed personnel. All such work
shall be diligently prosecuted to completion and shall comply with applicable
laws. Upon Tenant’s presentation to Landlord, from time to time, but in
no event later than May 1, 2011, of true and correct copies of construction
contracts, copies of invoices, lien waivers, and such other documentation
reasonably required by Landlord supporting the charges for completion of such
Tenant Work, Landlord shall reimburse Tenant for the cost of the completed, in
whole or in part, Tenant Work up to the amount of the Tenant Improvement
Allowance. Except as set forth above, Tenant shall not be entitled to a credit
for any portion of the Tenant Improvement Allowance not used. Except as
otherwise set forth herein, all costs of any Tenant Work in excess of the
Tenant Improvement Allowance shall be paid by Tenant promptly when due.

          (c)          No
Liens. Tenant will pay when due all claims for labor and material furnished
to the Premises and keep the Property at all times free from liens for labor
and materials. Tenant will give Landlord at least 20 days’ prior written notice
of the commencement of any work on the Premises, regardless of whether
Landlord’s consent to such work is required. Landlord may record and post
notices of non-responsibility on the Premises.

	
  

 	
  

 
	
 1
 For example, total costs savings of $60,000 shall be shared as follows:
 $25,000 to Tenant, and $35,000 to Landlord.

 

14

	
  

 	
  

 
	
 9.5

 	
 CONDITION
 UPON TERMINATION. 

 

Upon the expiration or termination of the Lease Term, Tenant will
surrender the Premises to Landlord broom clean and in the condition which
Tenant is required to maintain the Premises under this Lease. Tenant will not be obligated to repair any damage which Landlord is
required to repair under Article 10 (Casualty and Condemnation). Landlord may
require Tenant, at its expense, to remove any Tenant alterations, additions or
improvements, as well as any and all signage installed by or for Tenant on the
Premises or the Building, prior to the expiration of the Lease and to restore
the Premises and the Building to their prior condition. With respect to any
alterations, additions or improvements which require Landlord’s approval,
Landlord will specify if Tenant will be required to remove the same at the time
of such approval. Additionally, prior to the expiration or earlier termination
of the Lease Term or Tenant’s right to possession of the Premises, Tenant shall
remove its furniture, equipment, trade fixtures, other items of personal
property from the Premises. If Tenant does not remove any such alterations,
additions, improvements, or items as set forth herein, Tenant shall be
conclusively presumed to have conveyed the same to Landlord free and clear of
any and all liens and security interests without further payment or credit by
Landlord to Tenant; or at Landlord’s sole option, such items shall be deemed
abandoned, in which event Landlord may cause such items to be removed and
disposed of at Tenant’s expense, without notice to Tenant and without
obligation to compensate Tenant, and Landlord shall, prior to returning the
Security Deposit to Tenant pursuant to Section 14.14 hereof, deduct the cost of
such removal and disposal from the Security Deposit, with any costs thereof in
excess of the Security Deposit to be paid by Tenant to Landlord upon demand.

ARTICLE X

CASUALTY AND CONDEMNATION

	
  

 	
  

 
	
 10.1

 	
 DAMAGE TO
 PREMISES.

 

          (a) If the
Premises or the Property shall be damaged by fire or other cause Landlord shall
at its option either (i) undertake to restore such damage with all due
diligence, or (ii) in the event the Premises or the Property are damaged by
fire or other cause to such extent that damage cannot, in Landlord’s sole
judgment, be economically repaired within ninety (90) days after the date of
such damage (taking into account the time necessary to effectuate a
satisfactory settlement with any insurance company and using normal
construction methods without overtime or other premium), terminate this Lease,
by notice given to Tenant within sixty (60) days after the date of the damage.
Any termination hereunder by reason of damage to the Premises shall be
effective as of the date of the damage. Any termination by reason of damage to
the Property but not the Premises shall be effective as of the date notice is
given. This Lease shall, unless terminated by Landlord pursuant to this Section
10.1(a), remain in full force and effect following such damage, and, in the
case of damage to the Premises, the Base Rent and additional rent, prorated to
the extent that the Premises are rendered untenantable, shall be equitably
abated until such repairs are completed.

          (b) The
provisions of this Article 10 will govern the rights and obligations of
Landlord and Tenant in the event of any damage or destruction of or to the
Property. Tenant waives the protection of any statute, code or judicial
decision which grants a tenant the right to terminate a lease in the event of
the damage or destruction of the leased property. 

	
  

 	
  

 
	
 10.2

 	
 CONDEMNATION.
 

 

If more than 20% of the floor area of the Premises or more than 25% of
the parking on the Property is taken by eminent domain, either Landlord or
Tenant may terminate the Lease Term as of the date the condemning authority
takes title or possession, by delivering notice to the other within 10 days
after receipt of written notice of such taking (or in the absence of such
notice, within 10 days after the condemning authority takes title or
possession). If neither party terminates the Lease Term, this Lease will remain
in effect as to the portion of the Premises not taken, except that the Base
Rent will be reduced in proportion to the reduction in the floor area of the
Premises. Any condemnation award or payment will be paid to Landlord. Tenant will have no claim against Landlord for the
value of the unexpired lease term or otherwise; provided, however, Tenant may
make a separate claim with the condemning authority for its personal property
and/or moving costs so long as Landlord’s award is not reduced thereby.

15

ARTICLE XI

ASSIGNMENT AND SUBLETTING

	
  

 	
  

 
	
 11.1

 	
 LANDLORD’S
 CONSENT REQUIRED. 

 

Except as otherwise set forth herein, Tenant will not assign or
transfer this Lease or sublease the Premises or any part thereof or interest
therein, or mortgage, pledge or hypothecate its leasehold interest, without
Landlord’s prior written consent, which will not be unreasonably withheld.
Unless Tenant is a publicly traded company, a transfer of a controlling
interest in Tenant will be deemed an assignment of this Lease. Any attempted
transfer without consent will be void and constitute a non-curable Event of
Default under this Lease (as defined below). Tenant’s request for consent will
include the details of the proposed sublease or assignment, including the name,
business and financial condition of the prospective transferee, financial
details of the proposed transaction (e.g., the term of and the rent and
security deposit payable under any proposed assignment or sublease), and any
other information Landlord deems relevant. Landlord will have the right to
withhold consent, in its reasonable business judgment, or to grant consent,
based on the following factors: (i) the business of the proposed assignee or
subtenant and the proposed use of the Premises; (ii) the net worth and
financial condition of the proposed assignee or subtenant; (iii) Tenant’s
compliance with all of its obligations under this Lease; and (iv) such other
factors as Landlord may reasonably deem relevant. Tenant will promptly furnish
to Landlord copies of all transaction documentation.

	
  

 	
  

 
	
 11.2

 	
 PERMITTED
 TRANSFERS.

 

Notwithstanding the prohibitions set forth above, Tenant may, without
Landlord’s consent, assign its interest in this Lease or sublet the Premises to
any of the following (any such party a “Permitted Assignee”): (i) any one or
more present or future corporations or other business entities which directly
or through one or more intermediaries controls, is controlled by, or is under
common control with Tenant (each a “Tenant Affiliate”), but only for
such period as such Tenant Affiliate continues to control, be controlled by or
remains under common control with Tenant (for purposes hereof, “control” means
ownership of not less than eighty percent (80%) of all of the legal and
equitable interest in any other business entity); (ii) any entity with which
Tenant may merge or consolidate, or (iii) any entity to which Tenant may sell
all or substantially all the ownership interests in Tenant (e.g., capital
stock, partnership or membership interests, etc.), so long as (A) the principal
purpose of such assignment or sublease is not the acquisition of Tenant’s
interest in this Lease (except if such assignment or sublease is made for a
valid intracorporate business purpose to an entity with which is under common
control with Tenant) and is not made to circumvent the provisions of this
section, (B) any such assignee or sublessee shall have a net worth, determined
in accordance with generally accepted accounting principles, consistently
applied, after giving effect to such assignment or sublease equal to or greater
than Tenant’s net worth, as so determined, on the date hereof, (C) the Tenant
named herein shall remain liable for all obligations of Tenant under this
Lease, (D) prior to such assignment, such assignee shall enter into a written
agreement with Landlord agreeing to be directly bound to Landlord under the
terms of this Lease, and (E) Tenant provides at least thirty (30) days’ prior
written notice to Landlord of such assignment or sublease and copies of any
relevant documentation relating to same, including, but not limited to copies
of such assignment, the assignee’s financial statements, and such other
documents as are necessary to permit Landlord to determine that such assignment
is to a Permitted Assignee.

16

	
  

 	
  

 
	
 11.3

 	
 OFFER TO
 TERMINATE. 

 

If Tenant desires to assign this Lease or sublease all or any part of
the Premises, Tenant will notify Landlord, and Landlord for a period of 30 days
will have the right to terminate the Lease Term. If Tenant desires to sublease
only a portion of the Premises, and such portion is subdividable (with any
costs paid by Tenant), then the right to terminate may be exercised with
respect to only that portion of the Premises to be subleased. If Landlord
elects not to terminate the Lease Term as provided in this Section 11.3, Tenant
shall pay to Landlord 100% of any net profits received by Tenant from any
assignment of this Lease or sublet of the Premises. The terms of this Section
11.3 shall not apply to an assignment of the Lease to a Permitted Assignee. 

	
  

 	
  

 
	
 11.4

 	
 NO RELEASE
 OF TENANT. 

 

Notwithstanding any assignment or subletting, Tenant will at all times
remain fully responsible and primarily liable for the payment of Rent and
compliance with all of Tenant’s obligations under this Lease. Consent to one
transfer will not be deemed a consent to any subsequent transfer or a waiver of
the obligation to obtain consent on subsequent occasions. If Tenant’s assignee
or transferee defaults under this Lease, Landlord may proceed directly against
Tenant without pursuing remedies against the assignee or transferee. 

ARTICLE XII 

DEFAULTS AND REMEDIES

	
  

 	
  

 
	
 12.1

 	
 COVENANTS
 AND CONDITIONS. 

 

Tenant’s performance of each of Tenant’s obligations under this Lease
is a condition as well as a covenant. Tenant’s right to continue in possession
of the Premises is conditioned upon such performance. Time is of the essence in
the performance by Tenant of all covenants and conditions. 

	
  

 	
  

 
	
 12.2

 	
 DEFAULTS. 

 

Each of the following constitutes an “Event of Default” under this
Lease: 

          (a) Tenant
fails to pay Rent or any other sum payable to Landlord under this Lease within
5 days after it is due; 

          (b) Tenant
fails to perform any of Tenant’s other obligations under this Lease and such
failure continues for a period of 30 days after notice from Landlord; provided
that if more than 30 days are reasonably required to complete such performance,
Tenant will not be in default if Tenant commences such performance within the
30 day period and thereafter diligently pursues its completion; 

          (c) Tenant
abandons the Premises; or 

          (d) Tenant
becomes insolvent or bankrupt, has a receiver or trustee appointed for any part
of its property, makes an assignment for the benefit of its creditors, or any proceeding
is commenced either by Tenant or against it under any bankruptcy or insolvency
laws, which proceeding is not dismissed within 60 days; provided, however, if a
court of competent jurisdiction determines that any of the acts described in
this subsection (d) is not an Event of Default under this Lease, and a trustee
is appointed to take possession (or if Tenant remains a debtor in possession)
and such trustee or Tenant assigns, subleases, or transfers Tenant’s interest
hereunder, then Landlord will receive, as Additional Rent, the excess, if any,
of the rent (or any other consideration) paid in connection with such
assignment, transfer or sublease over the rent payable by Tenant under this
Lease. 

17

	
  

 	
  

 
	
 12.3

 	
 REMEDIES. 

 

On the occurrence of an Event of Default, Landlord may, at any time
thereafter, with or without notice or demand, and without limiting Landlord in
the exercise of any right or remedy which Landlord may have: 

          (a)
Terminate the Lease Term by written notice to Tenant. Tenant will then
immediately quit and surrender the Premises to Landlord, but Tenant will remain
liable as hereinafter provided. Following termination, without prejudice to
other remedies Landlord may have by reason of Tenant’s default or of such
termination, Landlord may (i) peaceably reenter the Premises upon voluntary
surrender by Tenant or remove Tenant therefrom and any other persons occupying
the Premises, using such legal proceedings as may be available; (ii) repossess
the Premises or relet the Premises or any part thereof for such term (which may
be for a term extending beyond the Lease Term), at such rental and upon such
other terms and conditions as Landlord in Landlord’s sole discretion
determines, with the right to make alterations and repairs to the Premises; and
(iii) remove all personal property therefrom. 

          The amount
of damages Tenant will pay to Landlord following termination will include all
Rent unpaid up to the termination of the Lease Term, the value of any free or
reduced rent provided for in this Lease, costs and expenses incurred by
Landlord due to such Event of Default and, in addition, Tenant will pay to
Landlord as damages, at the election of Landlord (if Landlord shall elect
subsection (y) below, it may cease such election at any time), either (x) the
amount, discounted to present value (at the then Federal Reserve Bank discount
rate) by which, at the time of the termination of the Lease Term or of Tenant’s
right to possession (or at any time thereafter if Landlord initially elects
damages under subsection (y) below), (i) the aggregate of the Rent and other
charges projected over the period commencing with such termination and ending
on the expiration date of this Lease exceeds (ii) the aggregate projected
rental value of the Premises for such period; or (y) amounts equal to the Rent
and other charges which would have been payable by Tenant had the Lease Term or
Tenant’s right to possession not been so terminated, payable upon the due dates
therefor specified herein following such termination and until the expiration
date of this Lease, provided, however, that if Landlord re-lets the Premises
during such period, Landlord will credit Tenant with the net rents received by
Landlord from such re-letting, such net rents to be determined by first
deducting from the gross rents received from such re-letting the expenses
incurred or paid by Landlord in terminating this Lease, and the reasonable
expenses of re-letting, including, without limitation, altering and preparing
the Premises for new tenants, brokers’ commissions and legal fees, it being
understood that any such reletting may be for a period equal to or shorter or
longer than the remaining Lease Term; and provided, further, that in no event
(i) will Tenant be entitled to receive any excess of such net rents over the
sums payable by Tenant to Landlord hereunder or (ii) will Tenant be entitled in
any suit for the collection of damages pursuant to this subsection (y) to a
credit in respect of any net rents from a re-letting except to the extent that
such net rents are actually received by Landlord prior to the commencement of
such suit. 

          If the
Premises or any part thereof are re-let in combination with other space, then
proper apportionment on a square foot area basis will be made of the rent
received from such re-letting and of the expenses of re-letting. In calculating
the Rent and other charges under subsection (x) above, there will be included,
in addition to the Rent, other considerations agreed to be paid or performed by
Tenant, on the assumption that all such considerations would have remained
constant for the balance of the full Lease Term hereby granted. Landlord may
re-let the Premises or any part thereof for such rent and on such terms as it
determines (including the right to re-let the Premises for a greater or lesser
term than the Lease Term, the right to re-let the Premises as part of a larger
area and the right to change the character or use made of the Premises).
Landlord will use reasonable efforts to relet the Premises and otherwise to
mitigate Tenant’s damages upon redelivery of the Premises to Landlord. Suit or
suits for the recovery of damages, or any installments thereof, may be brought
by Landlord from time to time at its election, and nothing contained herein will
be deemed to require Landlord to postpone suit until the date when the Lease
Term would have expired if it had not been terminated hereunder. 

18

          (b)
Maintain Tenant’s right to possession, in which case this Lease will continue
in effect whether or not Tenant has abandoned the Premises. In such event,
Landlord will be entitled to enforce all of Landlord’s rights and remedies
under this Lease, including the right to recover the Rent as it becomes due. 

          (c) Pursue
any other remedy now or hereafter available to Landlord under the laws or
judicial decisions of the state in which the Property is located. 

	
  

 	
  

 
	
 12.4

 	
 DAMAGES. 

 

On any termination, Landlord’s damages will include all costs and fees,
including reasonable attorneys’ fees that Landlord incurs in connection with
any bankruptcy court or other court proceeding with respect to the Lease, the
obtaining of relief from any stay in bankruptcy restraining any action to evict
Tenant, or the pursuing of any action with respect to Landlord’s right to
possession of the Premises. All such damages suffered (apart from Rent payable
hereunder) will constitute pecuniary damages which will be paid to Landlord
prior to assumption of the Lease by Tenant or any successor to Tenant in any
bankruptcy or other proceedings. 

	
  

 	
  

 
	
 12.5

 	
 CUMULATIVE
 REMEDIES. 

 

Except as otherwise expressly provided herein, any and all rights and
remedies which Landlord may have under this Lease and at law and equity are
cumulative and will not be deemed inconsistent with each other, and any two or
more of all such rights and remedies may be exercised at the same time to the
greatest extent permitted by law. 

ARTICLE XIII 

PROTECTION OF LENDERS

	
  

 	
  

 
	
 13.1

 	
 SUBORDINATION.
 

 

This Lease shall be automatically subordinated to any Mortgage
encumbering the Property. Landlord shall use commercially reasonable efforts to
provide to Tenant an instrument in commercially reasonable form providing that
the ground lessor, mortgagor or beneficiary of such Mortgage agrees that in the
event of the foreclosure or termination of such Mortgage, this Lease and the
rights of Tenant hereunder will continue in full force and effect so long as
Tenant continues to comply with all its obligations hereunder. “Mortgage”
includes any mortgage, deed of trust or ground lease, together with any
amendments, additional advances, restatements, modifications or consolidations
of such instrument. If any ground lessor, beneficiary or mortgagee elects to
have this Lease prior to the lien of its Mortgage and gives written notice
thereof to Tenant, this Lease will be deemed prior to such Mortgage whether
this Lease is dated prior or subsequent to the date of said Mortgage or the
date of recording thereof. 

	
  

 	
  

 
	
 13.2

 	
 ATTORNMENT. 

 

If Landlord’s interest in the Property is acquired by any ground
lessor, beneficiary, mortgagee, or purchaser at a foreclosure sale, Tenant will
attorn to the transferee of or successor to Landlord’s interest in the Property
and recognize such transferee or successor as successor Landlord under this
Lease. Tenant waives the protection of any statute or rule of law which gives
Tenant any right to terminate this Lease or surrender possession of the
Premises upon the transfer of Landlord’s interest. 

19

	
  

 	
  

 
	
 13.3

 	
 ESTOPPEL
 CERTIFICATES. 

 

Within 10 days after Landlord’s request, Tenant will execute,
acknowledge and deliver to Landlord a written statement certifying: (i) that
none of the terms or provisions of this Lease have been changed (or if they have been changed, stating how they have been changed); (ii) that
this Lease has not been canceled or terminated; (iii) the amount of and the
last date of payment of the Base Rent and other charges, and the time period
covered by such payment; (iv) that Landlord is not in default under this Lease
(or if Landlord is claimed to be in default, setting forth such default in
reasonable detail); and (v) such other information with respect to Tenant or
this Lease as Landlord may reasonably request or which any prospective
purchaser or encumbrancer of the Property may require. Landlord may deliver any
such statement by Tenant to any prospective purchaser or encumbrancer of the
Property, and such purchaser or encumbrancer may rely conclusively upon such
statement as true and correct. If Tenant does not deliver such statement to
Landlord within such 10 day period, Landlord, and any prospective purchaser or
encumbrancer, may conclusively presume and rely upon (and Tenant will be
estopped from denying): (i) that the terms and provisions of this Lease have
not been changed except as otherwise represented by Landlord; (ii) that this
Lease has not been canceled or terminated except as otherwise represented by
Landlord; (iii) that not more than one month’s Base Rent or other charges have
been paid in advance; and (iv) that Landlord is not in default under this
Lease. 

	
  

 	
  

 
	
 13.4

 	
 TENANT’S
 FINANCIAL CONDITION. 

 

If at any time during the Term Tenant is not a publically traded
company whose financial statements are publically available, within 10 days
after request from Landlord no more than once in any rolling twelve month
period year, Tenant will deliver to Landlord Tenant’s financial statements
(audited, if available) for the most recent two fiscal years. Such financial
statements may be delivered to Landlord’s mortgagees and lenders and prospective
mortgagees, lenders and purchasers. Landlord shall exercise commercially
reasonable efforts to keep all non-public financial statements confidential to
Landlord and such mortgagees or prospective purchasers and their respective
attorneys, accountants and representatives, and Landlord will use them only in
connection with the Property and this Lease. 

ARTICLE XIV 

MISCELLANEOUS PROVISIONS

	
  

 	
  

 
	
 14.1

 	
 COVENANT OF
 QUIET ENJOYMENT. 

 

Tenant on paying the Rent and performing its obligations hereunder will
peacefully and quietly have, hold and enjoy the Premises throughout the Lease
Term without any manner of hindrance from Landlord, subject however to all the
terms and provisions hereof. 

	
  

 	
  

 
	
 14.2

 	
 LANDLORD’S
 LIABILITY. 

 

The obligations of this Lease run with the land, and this Lease will be
binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns. No owner of the Property will be liable
under this Lease except for breaches of Landlord’s obligations occurring while
it is owner of the Property. The obligations of Landlord will be binding upon
the assets of Landlord which comprise the Property but not upon other assets of
Landlord. No individual Representative will be personally liable under this
Lease or any other instrument, transaction or undertaking contemplated hereby. 

	
  

 	
  

 
	
 14.3

 	
 NOTICE TO
 LANDLORD. 

 

Tenant will give written notice of any failure by Landlord to perform
any of its obligations under this Lease to Landlord and to any ground lessor,
mortgagee or beneficiary under any Mortgage encumbering the Property whose name
and address have been furnished to Tenant. Landlord will not be in default
under this Lease unless Landlord (or such ground lessor, mortgagee or
beneficiary) fails to cure such non-performance within 30 days after receipt of
Tenant’s notice or such longer period as may be required to diligently complete
such matter. If Landlord (or such ground lessor, mortgagee or beneficiary)
cannot perform any of its obligations due to events beyond its reasonable
control, the time provided for performing such obligations will be extended by a period of time equal
to the duration of such events. Events beyond Landlord’s reasonable control
include, but are not limited to, acts of God, war, civil commotion, labor
disputes, strikes, fire, flood or other casualty or weather conditions,
shortages of labor or material, and Legal Requirements. 

20

	
  

 	
  

 
	
 14.4

 	
 HOLDING
 OVER. 

 

If Tenant does not vacate the Premises upon the expiration or earlier
termination of this Lease, (i) Tenant will indemnify Landlord against all
damages, costs, liabilities and expenses, including attorneys’ fees, which
Landlord incurs on account of Tenant’s failure to vacate, and (ii) the Base
Rent will increase to 150% of the Base Rent then in effect and Tenant’s
obligation to pay Additional Rent will continue. Any holdover by Tenant does
not constitute an extension of the Lease or recognition by Landlord of any
right of Tenant to remain in the Premises. 

	
  

 	
  

 
	
 14.5

 	
 LANDLORD’S
 CONSENT. 

 

Tenant will pay Landlord its reasonable fees and expenses incurred in
connection with any act by Tenant which requires Landlord’s consent or approval
under this Lease. 

	
  

 	
  

 
	
 14.6

 	
 LANDLORD’S
 RIGHT TO CURE. 

 

If Tenant defaults in the performance of any obligation under this Lease,
Landlord will have the right (but is not required) to perform such obligation
and, if necessary, to enter upon the Premises. All costs incurred by Landlord
(together with interest at the rate of 15% per year but not to exceed the
highest legal rate) will be deemed to be Additional Rent under this Lease and
will be payable to Landlord immediately on demand. Landlord may exercise the
foregoing rights without waiving any of its other rights or releasing Tenant
from any of its obligations under this Lease. 

	
  

 	
  

 
	
 14.7

 	
 INTERPRETATION.
 

 

The captions of the Articles or Sections of this Lease are not a part
of the terms or provisions of this Lease. Whenever required by the context of
this Lease, the singular includes the plural and the plural includes the singular.
The masculine, feminine and neuter genders each include the other. In any
provision relating to the conduct, acts or omissions of Tenant, the term
“Tenant” includes Tenant’s agents, employees, contractors, invitees, successors
or others using the Premises with Tenant’s express or implied permission. This
Lease does not, and nothing contained herein, will create a partnership or
other joint venture between Landlord and Tenant. A determination by a court of
competent jurisdiction that any provision of this Lease or any part thereof is
illegal or unenforceable will not invalidate the remainder of such provision,
which will remain in full force and effect. 

	
  

 	
  

 
	
 14.8

 	
 INCORPORATION
 OF PRIOR AGREEMENTS; MODIFICATIONS. 

 

This Lease is the only agreement between the parties pertaining to the
lease of the Premises. All amendments to this Lease must be in writing and
signed by all parties. Any other attempted amendment will be void. 

	
  

 	
  

 
	
 14.9

 	
 NOTICES. 

 

All notices, requests and other communications required or permitted
under this Lease will be in writing and personally delivered or sent by a
national overnight delivery service which maintains delivery records. Notices
will be delivered to Tenant’s Notice Address or to Landlord’s Notice Address,
as appropriate. All notices will be effective upon delivery (or refusal to
accept delivery). Either party may change its notice address upon written
notice to the other party. 

21

	
  

 	
  

 
	
 14.10

 	
 WAIVERS. 

 

All waivers will be in writing and signed by the waiving party.
Landlord’s failure to enforce any provision of this Lease or its acceptance of
Rent is not a waiver and will not prevent Landlord from enforcing that
provision or any other provision of this Lease in the future. No statement on a
payment check from Tenant or in a letter accompanying a payment check will be
binding on Landlord. Landlord may, with or without notice to Tenant, negotiate
such check without being bound by to the conditions of such statement. 

	
  

 	
  

 
	
 14.11

 	
 BINDING
 EFFECT; CHOICE OF LAW. 

 

This Lease will bind any party who legally acquires any rights or
interest in this Lease from Landlord or Tenant, provided that Landlord will
have no obligation to Tenant’s successor unless the rights or interests of
Tenant’s successor are acquired in accordance with the terms of this Lease. The
laws of the state in which the Property is located govern this Lease. The
parties hereto waive trial by jury in any action, proceeding or counterclaim
brought by any party(ies) against any other party(ies) on any matter arising
out of or in any way connected with this Lease or the relationship of the
parties hereunder. 

	
  

 	
  

 
	
 14.12

 	
 EXECUTION OF
 LEASE. 

 

This Lease may be executed in counterparts and, when all counterpart
documents are executed, the counterparts will constitute a single binding
instrument. Landlord’s delivery of this Lease to Tenant is not deemed to be an
offer to lease and will not be binding upon either party until executed and
delivered by both parties. 

	
  

 	
  

 
	
 14.13

 	
 SURVIVAL. 

 

All representations and warranties of Landlord and Tenant, Tenant’s
indemnity under Section 6.4, the provisions of Section 8.2 and all obligations
of Tenant to pay Additional Rent hereunder, shall survive the termination of
this Lease. 

	
  

 	
  

 
	
 14.14

 	
 SECURITY
 DEPOSIT. 

 

Landlord acknowledges that it is currently holding the Security
Deposit. Landlord may, at its option, apply all or part of the Security Deposit
to any unpaid Rent or other charges due from Tenant, cure any other defaults of
Tenant, or compensate Landlord for any loss or damage which Landlord may suffer
due to Tenant’s default. If Landlord uses any part of the Security Deposit,
Tenant will restore the Security Deposit to its full amount within 10 days
after Landlord’s request. No interest will be paid on the Security Deposit, no
trust relationship is created herein between Landlord and Tenant with respect
to the Security Deposit, and the Security Deposit may be commingled with other
funds of Landlord. Upon expiration or termination of this Lease not resulting
from Tenant’s default and after Tenant has vacated the Premises in the manner
required by this Lease, Landlord will pay to Tenant any balance of the Security
Deposit not applied pursuant to this Section. 

	
  

 	
  

 
	
 14.15

 	
 ACTS OF GOD.
 

 

In any case where either party hereto is required to do any act, delays
caused by or resulting from Acts of God, war, civil commotion, fire, flood or
other casualty, labor difficulties, shortages of labor, materials or equipment,
government regulations, unusually severe weather, or other causes beyond such
party’s reasonable control, shall not be counted in determining the time during
which work shall be completed, whether such time be designated by a fixed date,
a fixed time or a “reasonable time”, and such time shall be deemed to be
extended by the period of such delay. Notwithstanding the foregoing, the
preceding sentences
shall not apply to Tenant’s obligations to pay Rent or any other amount due
hereunder, or with respect to Tenant’s obligations to carry insurance
hereunder. 

22

	
  

 	
  

 
	
 14.16

 	
 EXISTING
 LEASE. 

 

As set forth in the Recitals to this Lease, this Lease amends and
restates, in its entirety, the Original Lease. Notwithstanding the foregoing,
and although this Lease is effective as of the date hereof, the Original Lease
shall continue to govern Tenant’s leasing of the Premises until 11:59 p.m. on
July 31, 2010, at which time the Original Lease shall be of no further force
and effect and shall be replaced in its entirety by this Lease. 

	
  

 	
  

 
	
 14.17

 	
 NO OTHER
 BROKERS. 

 

Landlord and Tenant each represent and warrant to the other that the
Brokers are the only agents, brokers, finders or other parties with whom it has
dealt who may be entitled to any commission or fee with respect to this Lease
or the Premises or the Property. Landlord and Tenant each agree to indemnify and
hold the other party harmless from any claim, demand, cost or liability,
including, without limitation, attorneys’ fees and expenses, asserted by any
party other than the Brokers based upon dealings with that party. 

	
  

 	
  

 
	
 14.18

 	
 LEGAL COSTS.
 

 

In any enforcement proceeding brought by either party with respect to
this Lease, the non-prevailing party will pay to the prevailing party in such
proceeding all costs, including reasonable attorneys’ fees and court costs,
incurred by such other party with respect to said proceeding and any appeals
therefrom. 

	
  

 	
  

 
	
 14.19

 	
 ADDITIONAL
 PROVISIONS. 

 

The exhibits,
if any, attached hereto, are incorporated herein by reference. 

SIGNATURES FOLLOW ON NEXT PAGE

23

Signed on
September 9, 2010, but effective as of August 1, 2010 

LANDLORD: 

PARKERS LAKE I
REALTY LLC, a Delaware limited liability company 

	
  

 	
  

 	
  

 
	
 By:

 	
 /s/ Andrew
 G. LeStage

 	
  

 
	
  

 	
 Name: Andrew
 G. LeStage

 	
  

 
	
  

 	
 Title:
 Treasurer

 	
  

 

Signed on
August ___, 2010, but effective as of August 1, 2010 

TENANT: 

UROLOGIX,
INC., a Minnesota corporation 

	
  

 	
  

 	
  

 
	
 By:

 	
 /s/ Brian J.
 Smrdel

 	
  

 
	
  

 	
 Name: Brian
 J. Smrdel

 	
  

 
	
  

 	
 Title: Chief
 Financial Officer

 	
  

 

24

EXHIBIT A 

THE PROPERTY

Lot 85, Block
1, Except the West 43.50 feet of said Lot 85, Cimarron East, according to the
plant thereof on file or of record in the Office of the Registrar of Titles in
and for Hennepin County, Minnesota. 

Parcel 2: 

Easement for
common driveway as set forth in Easement Agreement dated December 11, 1986,
filed January 7, 1987, as Document Number 1791098, Office of Registrar of
Titles, Hennepin County, Minnesota. 

Parcel 3: 

Easement for
storm sewer, water main and driveway purposes as set forth in Appurtenant
Easement dated June 27, 1988, filed July 5, 1988 as Document Number 1942047, as
amended by First Amendment to Appurtenant Easement dated January 13, 1989,
filed January 17, 1989 as Document Number 1988599, Office of Registrar of
Titles, Hennepin County, Minnesota. 

A - 1

EXHIBIT B 

THE PREMISES

[illustration of plan of premises]

B - 1

EXHIBIT C 

RULES AND REGULATIONS

1.      No sign, placard, picture,
advertisement, name, notice or sun screening shall be inscribed, displayed,
printed or affixed on or to any part of the outside or inside of the Building
without the written consent of Landlord first had and obtained and in the
absence thereof, Landlord shall have the right to remove any such sign,
placard, picture, advertisement, name or notice without notice to and at the
expense of Tenant. All approved signs of lettering on doors shall be printed,
painted, affixed or inscribed at the sole risk and expense of Tenant by a
licensed contractor approved by Landlord and subject to all laws, ordinances
rules, regulations and recommendations of all governmental and
quasi-governmental authorities having jurisdiction thereover and all insurance
companies and fire rating agencies which insure the Building. Tenant shall not
place anything or allow anything to be placed near the glass of any window,
door, partition or wall which may appear unsightly from outside the Premises. Landlord
may specify a Building standard window covering for all exterior windows. 

2.      All parking shall be within the
property boundaries of the Property and within marked parking spaces. There
should be no on-street parking and at no time shall any Tenant obstruct any
driveways or loading areas intended for the use of other tenants, their
employees, agents, customers and invitees. The driveways and parking areas at
the Property are for the joint and non-exclusive use of Landlord’s tenants,
their employees, agents, customers and invitees, unless specifically marked to
the contrary. In the event Tenant, its agents, customers and/or invitees use a
disproportionate portion of the parking areas, Landlord shall have the right to
restrict Tenant, its agents, customers and/or invitees to certain parking
areas. Tenant shall not permit any fleet trucks to park overnight in the
Property’s parking areas without Landlord’s prior written approval. 

3.      Unless specifically approved by
Landlord in writing, no materials, supplies or equipment shall be stored
anywhere in, on or about the Building except inside the Premises. Trash
receptacles may not be placed in the service areas except by Landlord. If
Landlord does not supply trash receptacles, Tenant shall furnish its own
receptacles, and shall place such receptacles in a location designated by
Landlord. 

4.      No additional locks, other than
Landlord approved entry systems, shall be placed on the doors of the Premises
by Tenant nor shall any existing locks be changed unless Landlord is
immediately furnished with two keys thereto. Landlord will, without charge,
furnish Tenant with two keys for each lock on the entrance doors to the
Premises when Tenant assumes possession, with the understanding that at the
termination or expiration of the Term of this Lease the keys to the Premises
shall be returned to Landlord. 

5.      Tenant will refer all contractors,
contractor’s representatives and installation technicians rendering any service
on or to the Premises for Tenant to Landlord for its approval and supervision
before performance of any service. This provision shall apply to all work
performed in the Building, including, but not limited to, installation of
electrical devices and attachments and installations of any nature affecting
floors, walls, woodwork, trim, windows, ceilings, equipment or any other
portion of the Building. 

6.      No Tenant shall at any time occupy or
allow any person to occupy any part of the Premises or the Property as sleeping
or lodging quarters. 

7.      Tenant shall not place, install or
operate on the Premises or in any part of the Property, any engine, stove or
machinery, or conduct mechanical operations or cook thereon or therein, or
place or use in or about the Premises any explosives, gasoline, kerosene, oil,
acids, caustics or any other flammable, explosive or Hazardous Material without
the prior written consent of Landlord. The foregoing shall not prohibit the use
of microwave ovens. 

C - 1

8.      Windows facing the Building exterior shall
at all times be wholly clear and uncovered (except for such blinds or curtains
or other window coverings Landlord may provide or approve) so that a full
unobstructed view of the interior of the Premises may be had from outside the
Building. 

9.      The sidewalks, parking lots and exits
shall not be obstructed by Tenant, its employees, agents, contractors,
subtenants or assigns or used for any purpose other than for ingress to and
egress from the Premises. 

10.     Tenant shall not use, keep or permit to be
used or kept any foul or noxious gas or substance in the Premises, or permit or
suffer the Premises to be occupied or used in a manner offensive or
objectionable to Landlord or other occupants of the Building by reason of
noise, odors and vibrations, or interfere in any way with other Tenants or
those having business in the Building, nor shall any animals or birds be
brought in or kept in or about the Premises or the Building. 

11.    Landlord reserves the right to exclude or
expel from the Property any person who, in the judgment of Landlord, is
intoxicated or under the influence of liquor or drugs, or who may in any manner
do any act in violation of any law or any rule or regulations of the Property. 

12.     Landlord shall have the right, exercisable
after notice and without liability to Tenant, to change the name of the
Building and street address of the Building of which the Premises are a part;
provided, however, if Landlord makes such change(s), Landlord shall compensate
Tenant for its reasonable expenses incurred in connection with such change
(i.e., the cost of reasonable quantities of new stationary). 

13.     Tenant shall not disturb, solicit or
canvass any occupant of the Building and shall cooperate to prevent same. 

14.     Without the prior written consent of
Landlord, Tenant shall not use the name of the Building or Property in
connection with or in promoting or advertising the business of Tenant except as
Tenant’s address. 

15.     Landlord shall have the right to control
and operate the common areas of the Property, the public facilities thereof, as
well as the facilities furnished for the common use of all Tenants, in such
manner as it deems appropriate. 

16.     No satellite dish, radio, television or
other aerial or equipment of any kind may be placed or installed on the roof or
on any exterior wall of the Premises or on the grounds or common areas of the
Property without the prior written consent of Landlord in each instance. Any
equipment so installed without such written consent shall be at the sole risk
of Tenant and shall be subject to removal without notice at any time and Tenant
shall pay to Landlord, on demand, as additional rent, the cost of any damages
occasioned thereby including, but not limited to, the cost to replace any warranty
voided or diminished by such installation and the cost of removal and repairs. 

17.     Landlord shall have the right from time to
time to modify, add to or delete any of these rules and regulations at
Landlord’s reasonable discretion, provided that any changes are uniformly
applied to all Tenants. 

C - 2

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