Document:

exhibit4-1.htm

    EXHIBIT 4.1

     

    
      

      

    

    
 

     

    

    DIME
COMMUNITY BANCSHARES, INC.

    

    TO

    

    ......................................

    Trustee

     

    Indenture

    

    

    

    Dated as of
...............

    

    

    

    [SUBORDINATED]*
DEBT SECURITIES1

    
      

       

      

    

    
 

    
      

      

    

     

    
      
        

      

    

    1 This
form of Indenture includes provisions for an Indenture relating to the issuance
of Senior Debt Securities and provisions for an Indenture relating to the
issuance of Subordinated Debt Securities.  Material within brackets
marked with an asterisk ( * ) will be included only if the Indenture relates to
the issuance of Subordinated Debt Securities.  Material within
brackets marked with a dagger ( † ) will be included only if the Indenture
relates to the issuance of Senior Debt Securities.

     

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

     

    TABLE OF
CONTENTS

    
      
        

      

    
      
        
          
            
              
                
                  
                    	 
      	 
      	
                            PAGE

                          
	
                            PARTIES

                          	 
      	
                            1

                          
	
                            RECITALS
      OF THE COMPANY

                          	
                            1

                          
	
                            ARTICLE
      ONE

                          
	 
      	 
      	 
      
	
                            DEFINITIONS
      AND OTHER PROVISIONS OF GENERAL APPLICATION

                          
	
                            SECTION
      101.

                          	
                            Definitions.

                          	
                            1

                          
	 
      	
                            Act

                          	
                            2

                          
	 
      	
                            Affiliate;
      control

                          	
                            2

                          
	 
      	
                            Authenticating
      Agent

                          	
                            2

                          
	 
      	
                            Board
      of Directors

                          	
                            2

                          
	 
      	
                            Board
      Resolution

                          	
                            2

                          
	 
      	
                            Business
      Day

                          	
                            2

                          
	 
      	
                            Commission

                          	
                            2

                          
	 
      	
                            Company

                          	
                            2

                          
	 
      	
                            Company
      Request; Company Order

                          	
                            2

                          
	 
      	
                            Corporate
      Trust Office

                          	
                            2

                          
	 
      	
                            corporation

                          	
                            3

                          
	 
      	
                            Covenant
      Defeasance

                          	
                            3

                          
	 
      	
                            Defaulted
      Interest

                          	
                            3

                          
	 
      	
                            Defeasance

                          	
                            3

                          
	 
      	
                            Depositary

                          	
                            3

                          
	 
      	
                            Event
      of Default

                          	
                            3

                          
	 
      	
                            Exchange
      Act

                          	
                            3

                          
	 
      	
                            Expiration
      Date

                          	
                            3

                          
	 
      	
                            Global
      Security

                          	
                            3

                          
	 
      	
                            Holder

                          	
                            3

                          
	 
      	
                            Indenture

                          	
                            3

                          
	 
      	
                            interest

                          	
                            3

                          
	 
      	
                            Interest
      Payment Date

                          	
                            3

                          
	 
      	
                            Investment
      Company Act

                          	
                            3

                          
	 
      	
                            Maturity

                          	
                            3

                          
	 
      	
                            Notice
      of Default

                          	
                            4

                          
	 
      	
                            Officers’
      Certificate

                          	
                            4

                          
	 
      	
                            Opinion
      of Counsel

                          	
                            4

                          
	 
      	
                            Original
      Issue Discount Security

                          	
                            4

                          
	 
      	
                            Outstanding

                          	
                            4

                          
	 
      	
                            Paying
      Agent

                          	
                            5

                          
	 
      	
                            Person

                          	
                            5

                          
	 
      	
                            Place
      of Payment

                          	
                            5

                          
	 
      	
                            Predecessor
      Security

                          	
                            5

                          
	 
      	
                            Redemption
      Date

                          	
                            5

                          
	 
      	
                            Redemption
      Price

                          	
                            5

                          
	 
      	
                            Regular
      Record Date

                          	
                            5

                          
	 
      	
                            Securities

                          	
                            5

                          
	 
      	
                            Securities
      Act

                          	
                            6

                          
	 
      	
                            Security
      Register; Security Registrar

                          	
                            6

                          
	 
      	
                            [Senior
      Indebtedness

                          	
                            6]*

                          
	 
      	
                            Special
      Record Date

                          	
                            6

                          
	 
      	
                            Stated
      Maturity

                          	
                            6

                          
	 
      	
                            [Subordination
      Provisions

                          	
                            6]*

                          
	 
      	
                            Subsidiary

                          	
                            6

                          
	 
      	
                            Trust
      Indenture Act

                          	
                            6

                          
	 
      	
                            Trustee

                          	
                            6

                          
	 
      	
                            U.S.
      Government Obligation

                          	
                            6

                          
	 
      	
                            Vice
      President

                          	
                            6

                          
	
                            SECTION
      102.

                          	
                            Compliance
      Certificates and Opinions.

                          	
                            7

                          
	
                            SECTION
      103.

                          	
                            Form
      of Documents Delivered to Trustee.

                          	
                            7

                          
	
                            SECTION
      104.

                          	
                            Acts
      of Holders; Record Dates.

                          	
                            8

                          
	
                            SECTION
      105.

                          	
                            Notices,
      Etc., to Trustee and Company.

                          	
                            10

                          
	
                            SECTION
      106.

                          	
                            Notice
      to Holders; Waiver.

                          	
                            10

                          
	
                            SECTION
      107.

                          	
                            Conflict
      with Trust Indenture Act.

                          	
                            10

                          
	
                            SECTION
      108.

                          	
                            Effect
      of Headings and Table of Contents.

                          	
                            11

                          
	
                            SECTION
      109.

                          	
                            Successors
      and Assigns.

                          	
                            11

                          
	
                            SECTION
      110.

                          	
                            Separability
      Clause.

                          	
                            11

                          
	
                            SECTION
      111.

                          	
                            Benefits
      of Indenture.

                          	
                            11

                          
	
                            SECTION
      112.

                          	
                            Governing
      Law.

                          	
                            11

                          
	
                            SECTION
      113.

                          	
                            Legal
      Holidays.

                          	
                            11

                          
	
                            ARTICLE
      TWO

                          
	 
      	 
      	 
      
	
                            SECURITY
      FORMS

                          
	
                            SECTION
      201.

                          	
                            Forms
      Generally.

                          	
                            11

                          
	
                            SECTION
      202.

                          	
                            Form
      of Face of Security.

                          	
                            12

                          
	
                            SECTION
      203.

                          	
                            Form
      of Reverse of Security.

                          	
                            13

                          
	
                            SECTION
      204.

                          	
                            Form
      of Legend for Global Securities.

                          	
                            17

                          
	
                            SECTION
      205.

                          	
                            Form
      of Trustee’s Certificate of Authentication.

                          	
                            17

                          
	
                            ARTICLE
      THREE

                          
	 
      	 
      	 
      
	
                            THE
      SECURITIES

                          
	
                            SECTION
      301.

                          	
                            Amount
      Unlimited; Issuable in Series.

                          	
                            18

                          
	
                            SECTION
      302.

                          	
                            Denominations.

                          	
                            20

                          
	
                            SECTION
      303.

                          	
                            Execution,
      Authentication, Delivery and Dating.

                          	
                            21

                          
	
                            SECTION
      304.

                          	
                            Temporary
      Securities.

                          	
                            22

                          
	
                            SECTION
      305.

                          	
                            Registration,
      Registration of Transfer and Exchange.

                          	
                            22

                          
	
                            SECTION
      306.

                          	
                            Mutilated,
      Destroyed, Lost and Stolen Securities.

                          	
                            24

                          
	
                            SECTION
      307.

                          	
                            Payment
      of Interest; Interest Rights Preserved.

                          	
                            25

                          
	
                            SECTION
      308.

                          	
                            Persons
      Deemed Owners.

                          	
                            26

                          
	
                            SECTION
      309.

                          	
                            Cancellation.

                          	
                            26

                          
	
                            SECTION
      310.

                          	
                            Computation
      of Interest.

                          	
                            27

                          
	
                            SECTION
      311.

                          	
                            CUSIP

                          	
                            27

                          
	 
      	 
      	 
      
	
                            ARTICLE
      FOUR

                          
	 
      	 
      	 
      
	
                            SATISFACTION
      AND DISCHARGE

                          
	
                            SECTION
      401.

                          	
                            Satisfaction
      and Discharge of Indenture.

                          	
                            27

                          
	
                            SECTION
      402.

                          	
                            Application
      of Trust Money.

                          	
                            28

                          
	 
      	 
      	 
      
	
                            ARTICLE
      FIVE

                          
	 
      	 
      	 
      
	
                            REMEDIES

                          
	
                            SECTION
      501.

                          	
                            Events
      of Default.

                          	
                            28

                          
	
                            SECTION
      502.

                          	
                            Acceleration
      of Maturity; Rescission and Annulment.

                          	
                            30

                          
	
                            SECTION
      503.

                          	
                            Collection
      of Indebtedness and Suits for Enforcement by Trustee.

                          	
                            31

                          
	
                            SECTION
      504.

                          	
                            Trustee
      May File Proofs of Claim.

                          	
                            32

                          
	
                            SECTION
      505.

                          	
                            Trustee
      May Enforce Claims Without Possession of Securities.

                          	
                            32

                          
	
                            SECTION
      506.

                          	
                            Application
      of Money Collected.

                          	
                            32

                          
	
                            SECTION
      507.

                          	
                            Limitation
      on Suits.

                          	
                            33

                          
	
                            SECTION
      508.

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

                          	
                            33

                          
	
                            SECTION
      509.

                          	
                            Restoration
      of Rights and Remedies.

                          	
                            34

                          
	
                            SECTION
      510.

                          	
                            Rights
      and Remedies Cumulative.

                          	
                            34

                          
	
                            SECTION
      511.

                          	
                            Delay
      or Omission Not Waiver.

                          	
                            34

                          
	
                            SECTION
      512.

                          	
                            Control
      by Holders.

                          	
                            34

                          
	
                            SECTION
      513.

                          	
                            Waiver
      of Past Defaults.

                          	
                            34

                          
	
                            SECTION
      514.

                          	
                            Undertaking
      for Costs.

                          	
                            35

                          
	
                            SECTION
      515.

                          	
                            Waiver
      of Usury, Stay or Extension Laws.

                          	
                            35

                          
	
                            ARTICLE
      SIX

                          
	 
      	 
      	 
      
	
                            THE
      TRUSTEE

                          
	
                            SECTION
      601.

                          	
                            Certain
      Duties and Responsibilities.

                          	
                            35

                          
	
                            SECTION
      602.

                          	
                            Notice
      of Defaults.

                          	
                            36

                          
	
                            SECTION
      603.

                          	
                            Certain
      Rights of Trustee.

                          	
                            36

                          
	
                            SECTION
      604.

                          	
                            Not
      Responsible for Recitals or Issuance of Securities.

                          	
                            37

                          
	
                            SECTION
      605.

                          	
                            May
      Hold Securities.

                          	
                            37

                          
	
                            SECTION
      606.

                          	
                            Money
      Held in Trust.

                          	
                            37

                          
	
                            SECTION
      607.

                          	
                            Compensation
      and Reimbursement.

                          	
                            37

                          
	
                            SECTION
      608.

                          	
                            Conflicting
      Interests.

                          	
                            38

                          
	
                            SECTION
      609.

                          	
                            Corporate
      Trustee Required; Eligibility.

                          	
                            38

                          
	
                            SECTION
      610.

                          	
                            Resignation
      and Removal; Appointment of Successor.

                          	
                            38

                          
	
                            SECTION
      611.

                          	
                            Acceptance
      of Appointment by Successor.

                          	
                            40

                          
	
                            SECTION
      612.

                          	
                            Merger,
      Conversion, Consolidation or Succession to Business.

                          	
                            41

                          
	
                            SECTION
      613.

                          	
                            Preferential
      Collection of Claims Against Company.

                          	
                            41

                          
	
                            SECTION
      614.

                          	
                            Appointment
      of Authenticating Agent.

                          	
                            41

                          
	
                            ARTICLE
      SEVEN

                          
	 
      	 
      	 
      
	
                            HOLDERS’
      LISTS AND REPORTS BY TRUSTEE AND COMPANY

                          
	
                            SECTION
      701.

                          	
                            Company
      to Furnish Trustee Names and Addresses of Holders.

                          	
                            43

                          
	
                            SECTION
      702.

                          	
                            Preservation
      of Information; Communications to Holders.

                          	
                            43

                          
	
                            SECTION
      703.

                          	
                            Reports
      by Trustee.

                          	
                            43

                          
	
                            SECTION
      704.

                          	
                            Reports
      by Company.

                          	
                            44

                          
	
                            ARTICLE
      EIGHT

                          
	 
      	 
      	 
      
	
                            CONSOLIDATION,
      MERGER, CONVEYANCE, TRANSFER OR LEASE

                          
	
                            SECTION
      801.

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

                          	
                            44

                          
	
                            SECTION
      802.

                          	
                            Successor
      Substituted.

                          	
                            44

                          
	
                            ARTICLE
      NINE

                          
	 
      	 
      	 
      
	
                            SUPPLEMENTAL
      INDENTURES

                          
	
                            SECTION
      901.

                          	
                            Supplemental
      Indentures Without Consent of Holders.

                          	
                            45

                          
	
                            SECTION
      902.

                          	
                            Supplemental
      Indentures With Consent of Holders.

                          	
                            46

                          
	
                            SECTION
      903.

                          	
                            Execution
      of Supplemental Indentures.

                          	
                            47

                          
	
                            SECTION
      904.

                          	
                            Effect
      of Supplemental Indentures.

                          	
                            47

                          
	
                            SECTION
      905.

                          	
                            Conformity
      with Trust Indenture Act.

                          	
                            47

                          
	
                            SECTION
      906.

                          	
                            Reference
      in Securities to Supplemental Indentures.

                          	
                            48

                          
	
                            ARTICLE
      TEN

                          
	 
      	 
      	 
      
	
                            COVENANTS

                          
	
                            SECTION
      1001.

                          	
                            Payment
      of Principal, Premium and Interest.

                          	
                            48

                          
	
                            SECTION
      1002.

                          	
                            Maintenance
      of Office or Agency.

                          	
                            48

                          
	
                            SECTION
      1003.

                          	
                            Money
      for Securities Payments to Be Held in Trust.

                          	
                            48

                          
	
                            SECTION
      1004.

                          	
                            Statement
      by Officers as to Default.

                          	
                            49

                          
	
                            SECTION
      1005.

                          	
                            Existence.

                          	
                            50

                          
	
                            SECTION
      1006.

                          	
                            Maintenance
      of Properties.

                          	
                            50

                          
	
                            SECTION
      1007.

                          	
                            Payment
      of Taxes and Other Claims.

                          	
                            50

                          
	
                            SECTION
      1008.

                          	
                            Waiver
      of Certain Covenants.

                          	
                            50

                          
	
                            ARTICLE
      ELEVEN

                          
	 
      	 
      	 
      
	
                            REDEMPTION
      OF SECURITIES

                          
	
                            SECTION
      1101.

                          	
                            Applicability
      of Article.

                          	
                            51

                          
	
                            SECTION
      1102.

                          	
                            Election
      to Redeem; Notice to Trustee.

                          	
                            51

                          
	
                            SECTION
      1103.

                          	
                            Selection
      by Trustee of Securities to Be Redeemed.

                          	
                            51

                          
	
                            SECTION
      1104.

                          	
                            Notice
      of Redemption.

                          	
                            52

                          
	
                            SECTION
      1105.

                          	
                            Deposit
      of Redemption Price.

                          	
                            53

                          
	
                            SECTION
      1106.

                          	
                            Securities
      Payable on Redemption Date.

                          	
                            53

                          
	
                            SECTION
      1107.

                          	
                            Securities
      Redeemed in Part.

                          	
                            53

                          
	 
      	 
      	 
      
	
                            ARTICLE
      TWELVE

                          
	 
      	 
      	 
      
	
                            SINKING
      FUNDS

                          
	
                            SECTION
      1201.

                          	
                            Applicability
      of Article.

                          	
                            53

                          
	
                            SECTION
      1202.

                          	
                            Satisfaction
      of Sinking Fund Payments with Securities.

                          	
                            54

                          
	
                            SECTION
      1203.

                          	
                            Redemption
      of Securities for Sinking Fund.

                          	
                            54

                          
	 
      	 
      	 
      
	
                            ARTICLE
      THIRTEEN

                          
	 
      	 
      	 
      
	
                            DEFEASANCE
      AND COVENANT DEFEASANCE

                          
	
                            SECTION
      1301.

                          	
                            Company’s
      Option to Effect Defeasance or Covenant Defeasance.

                          	
                            54

                          
	
                            SECTION
      1302.

                          	
                            Defeasance
      and Discharge.

                          	
                            55

                          
	
                            SECTION
      1303.

                          	
                            Covenant
      Defeasance.

                          	
                            55

                          
	
                            SECTION
      1304.

                          	
                            Conditions
      to Defeasance or Covenant Defeasance.

                          	
                            56

                          
	
                            SECTION
      1305.

                          	
                            Deposited
      Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous
      Provisions.

                          	
                            58

                          
	
                            SECTION
      1306.

                          	
                            Reinstatement.

                          	
                            58

                          
	
                            [SECTION
      1307.

                          	
                            Effect
      on Subordination Provisions.

                          	
                            58]*

                          
	 
      	 
      	 
      

                  

                

              

            

          

        

      

    

    

     

      
        

      

    

    NOTE:  This table of contents
shall not, for any purpose, be deemed to be a party of the Indenture.

     

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    DIME
COMMUNITY BANCSHARES, INC.

    

    Certain
Sections of this Indenture relating to Sections 310 through
318,

    inclusive, of the Trust Indenture Act of
1939:

     

    
      
        	
                  Trust
      Indenture Act
      Section

              	 
      	
                Indenture
      Section

              
	
                §
      310(a)(1)

              	 
      	
                609

              
	
                (a)(2)

              	 
      	
                609

              
	
                (a)(3)

              	 
      	
                Not
      Applicable

              
	
                (a)(4)

              	 
      	
                Not
      Applicable

              
	
                (b)

              	 
      	
                608

              
	 
      	 
      	
                610

              
	
                §
      311(a)

              	 
      	
                613

              
	
                (b)

              	 
      	
                613

              
	
                §
      312(a)

              	 
      	
                701

              
	 
      	 
      	
                702

              
	
                (b)

              	 
      	
                702

              
	
                (c)

              	 
      	
                702

              
	
                §
      313(a)

              	 
      	
                703

              
	
                (b)

              	 
      	
                703

              
	
                (c)

              	 
      	
                703

              
	
                (d)

              	 
      	
                703

              
	
                §
      314(a)

              	 
      	
                704

              
	
                (a)(4)

              	 
      	
                101

              
	 
      	 
      	
                1004

              
	
                (b)

              	 
      	
                Not
      Applicable

              
	
                (c)(1)

              	 
      	
                102

              
	
                (c)(2)

              	 
      	
                102

              
	
                (c)(3)

              	 
      	
                Not
      Applicable

              
	
                (d)

              	 
      	
                Not
      Applicable

              
	
                (e)

              	 
      	
                102

              
	
                §
      315(a)

              	 
      	
                601

              
	
                (b)

              	 
      	
                602

              
	
                (c)

              	 
      	
                601

              
	
                (d)

              	 
      	
                601

              
	
                (e)

              	 
      	
                514

              
	
                §
      316(a)

              	 
      	
                101

              
	
                (a)(1)(A)

              	 
      	
                502

              
	 
      	 
      	
                512

              
	
                (a)(1)(B)

              	 
      	
                513

              
	
                (a)(2)

              	 
      	
                Not
      Applicable

              
	
                (b)

              	 
      	
                508

              
	
                (c)

              	 
      	
                104

              
	
                §
      317(a)(1)

              	 
      	
                503

              
	
                (a)(2)

              	 
      	
                504

              
	
                (b)

              	 
      	
                1003

              
	
                §
      318(a)

              	 
      	
                107

              

      

    

    ___________________

     

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

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    INDENTURE,
dated as of ..............., between Dime Community Bancshares, Inc., a corporation duly
organized and existing under the laws of the State of Delaware (herein called
the “Company”), and ............., a ............... duly organized and existing under the laws of
........., as Trustee (herein called the “Trustee”).

     

     

    Recitals
of the Company

     

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

     

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

     

    Now,
Therefore, This Indenture Witnesseth:

     

    For and
in consideration of the premises and the purchase of the Securities by the
Holders thereof, it is mutually agreed, for the equal and proportionate benefit
of all Holders of the Securities or of series thereof, as follows:

     

     

    
 

    ARTICLE ONE

     

    Definitions
and Other Provisions

     

     

    of
General Application

     

     

    
      	
              Section 101. 
        

            	
              Definitions.

            

    

     

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

     

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

         

        	
                 
      (2)

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

              

      

    

     

    
      	
               
      (3)

            	
              all
      accounting terms not otherwise defined herein have the meanings assigned
      to them in accordance with generally accepted accounting principles, and,
      except as otherwise herein expressly provided, the term “generally
      accepted accounting principles” with respect to any computation required
      or permitted hereunder shall mean such accounting principles as are
      generally accepted at the date of such
  computation;

            

    

     

    
      	
               
      (4)

            	
              unless
      the context otherwise requires, any reference to an “Article” or a
      “Section” refers to an Article or a Section, as the case may be, of this
      Indenture; and

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
               
      (5)

            	
              the
      words “herein”, “hereof” and “hereunder” and other words of similar import
      refer to this Indenture as a whole and not to any particular Article,
      Section or other subdivision.

            

    

     

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

     

    “Affiliate”  of
any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified
Person. For 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 614
to act on behalf of the Trustee to authenticate Securities of one or more
series.

     

    “Board of
Directors” means either the board of directors of the Company or any duly
authorized committee of that board.

     

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

     

    “Business
Day”, when used with respect to any Place of Payment, means each Monday,
Tuesday, Wednesday, Thursday and Friday which is not a day on which banking
institutions in that Place of Payment are authorized or obligated by law or
executive order to close.

     

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

     

    “Company”
means the Person named as the “Company” in the first paragraph of this
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.

     

    “Company
Request” or “Company Order” means a written request or order signed in the name
of the Company by its Chairman of the Board, its Vice Chairman of the Board, its
President or a Vice President, and by its Treasurer, an Assistant Treasurer, its
Secretary or an Assistant Secretary, and delivered to the Trustee.

     

    “Corporate
Trust Office” means the principal office of the Trustee in ........... at which at any
particular time its corporate trust business shall be administered.

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    “corporation”
means a corporation, association, company, joint-stock company or business
trust.

     

    “Covenant
Defeasance” has the meaning specified in Section 1303.

     

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

     

    “Defeasance”
has the meaning specified in Section 1302.

     

    “Depositary”
means, with respect to Securities of any series issuable in whole or in part in
the form of one or more Global Securities, a clearing agency registered under
the Exchange Act that is designated to act as Depositary for such Securities as
contemplated by Section 301.

     

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

     

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

     

    “Expiration
Date” has the meaning specified in Section 104.

     

    “Global
Security” means a Security that evidences all or part of the Securities of any
series and bears the legend set forth in Section 204 (or such legend as may
be specified as contemplated by Section 301 for such
Securities).

     

    “Holder”
means a Person in whose name a Security is registered in the Security
Register.

     

    “Indenture”
means this instrument as originally executed and 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, including, for all purposes
of this instrument and any such supplemental indenture, the provisions of the
Trust Indenture Act that are deemed to be a part of and govern this instrument
and any such supplemental indenture, respectively. The term “Indenture” shall
also include the terms of particular series of Securities established as
contemplated by Section 301.

     

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

     

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

     

    “Investment
Company Act” means the Investment Company Act of 1940 and any statute successor
thereto, in each case as amended from time to time.

     

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

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

    “Notice
of Default” means a written notice of the kind specified in Section 501(4)
or 501(5).

     

    “Officers’
Certificate” means a certificate signed by the Chairman of the Board, a Vice
Chairman of the Board, 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. One of the officers signing an Officers’
Certificate given pursuant to Section 1004 shall be the principal
executive, financial or accounting officer of the Company.

     

    “Opinion
of Counsel” means a written opinion of counsel, who may be counsel for the
Company, and who shall be acceptable to the Trustee.

     

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

     

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

     

    
      
        	
                 (1)

              	 Securities
      theretofore cancelled by the Trustee or delivered to the Trustee for
      cancellation;

         

        	
                 (2)

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

              

      

    

     

    
      	
               (3)

            	
              Securities
      as to which Defeasance has been effected pursuant to Section 1302;
      and

            

    

     

    
      	
               (4)

            	
              Securities
      which have 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, other than any such Securities in respect of
      which there shall have been presented to the Trustee proof satisfactory to
      it that such Securities are held by a bona fide purchaser in whose hands
      such Securities are valid obligations of the
  Company;

            

    

     

    provided, however, that in determining
whether the Holders of the requisite principal amount of the Outstanding
Securities have given, made or taken any request, demand, authorization,
direction, notice, consent, waiver or other action hereunder as of any date,
(A) the principal amount of an Original Issue Discount Security which shall
be deemed to be Outstanding shall be the amount of the principal thereof which
would be due and payable as of such date upon acceleration of the Maturity
thereof to such date pursuant to Section 502, (B) if, as of such date, the
principal amount payable at the Stated Maturity 

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

     

    of a
Security is not determinable, the principal amount of such Security which shall
be deemed to be Outstanding shall be the amount as specified or determined as
contemplated by Section 301, (C) the principal amount of a Security denominated
in one or more foreign currencies or currency units which shall be deemed to be
Outstanding shall be the U.S. dollar equivalent, determined as of such date in
the manner provided as contemplated by Section 301, of the principal amount
of such Security (or, in the case of a Security described in Clause (A) or
(B) above, of the amount determined as provided in such Clause), and
(D) Securities owned by the Company or any other obligor upon the
Securities or any Affiliate of the Company or of such other obligor shall be
disregarded and deemed not to be Outstanding, except that, in determining
whether the Trustee shall be protected in relying upon any such request, demand,
authorization, direction, notice, consent, waiver or other action, only
Securities which the Trustee knows to be so owned shall be so disregarded.
Securities so owned which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee the
pledgee’s right so to act with respect to such Securities and that the pledgee
is not the Company or any other obligor upon the Securities or any Affiliate of
the Company or of such other obligor.

     

    “Paying
Agent” means any Person authorized by the Company to pay the principal of or any
premium or interest on any Securities on behalf of the Company.

     

    “Person”
means any individual, corporation, partnership, joint venture, trust,
unincorporated organization or government or any agency or political subdivision
thereof.

     

    “Place of
Payment”, when used with respect to the Securities of any series, means the
place or places where the principal of and any premium and interest on the
Securities of that series are payable as specified as contemplated by
Section 301.

     

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

     

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

     

    “Redemption
Price”, when used with respect to any Security to be redeemed, means the price
at which it is to be redeemed pursuant to this Indenture.

     

    “Regular
Record Date” for the interest payable on any Interest Payment Date on the
Securities of any series means the date specified for that purpose as
contemplated by Section 301.

     

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

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

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

     

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

     

    [“Senior
Indebtedness”, when used with respect to the Securities of any series, shall
have the meaning established pursuant to Section 301(20) with respect to the
Securities of such series.]*

     

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

     

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

     

    [“Subordination
Provisions”, when used with respect to the Securities of any series, shall have
the meaning established pursuant to Section 301(20) with respect to Securities
of such series.]*

     

    “Subsidiary”
means a corporation more than 50% of the outstanding voting stock of which is
owned, directly or indirectly, by the Company or by one or more other
Subsidiaries, or by the Company and one or more other Subsidiaries. For the
purposes of this definition, “voting stock” means stock which ordinarily has
voting power for the election of directors, whether at all times or only so long
as no senior class of stock has such voting power by reason of any
contingency.

     

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

     

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

     

    “U.S.
Government Obligation” has the meaning specified in
Section 1304.

     

    “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”.

     

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

    
      	SECTION 102. 
       	
              Compliance
      Certificates and Opinions.

            

    

     

    Upon any
application or request by the Company to the Trustee to take any action under
any provision of this Indenture, the Company shall furnish to the Trustee such
certificates and opinions as may be required under the Trust Indenture Act. Each
such certificate or opinion shall be given in the form of an Officers’
Certificate, if to be given by an officer of the Company, or an Opinion of
Counsel, if to be given by counsel, and shall comply with the requirements of
the Trust Indenture Act and any other requirements set forth in this
Indenture.

     

    Every
certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (except for certificates provided for in
Section 1004) shall include,

     

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

         

        	
                 
      (2)

              	
                a
      brief statement as to the nature and scope of the examination or
      investigation upon which the statements or opinions contained in such
      certificate or opinion are
based;

              

      

    

     

    
      	
               
      (3)

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

            

    

     

    
      	
               
      (4)

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

            

    

     

     

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

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

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

     

     

    
      	SECTION
    104.  	
              Acts
      of Holders; Record Dates.

            

    

     

    Any
request, demand, authorization, direction, notice, consent, waiver or other
action provided or permitted by this Indenture to be given, made 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 agent duly
appointed in writing; and, except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered
to the Trustee and, where it is hereby expressly required, to the Company. Such
instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of the Holders signing
such instrument or instruments. Proof of execution of any such instrument or of
a writing appointing any such agent shall be sufficient for any purpose of this
Indenture and (subject to Section 601) conclusive in favor of the Trustee
and the Company, if made in the manner provided in this Section.

     

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

     

    The
ownership of Securities shall be proved by the Security Register.

     

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

     

    The
Company may set any day as a record date for the purpose of determining the
Holders of Outstanding Securities of any series entitled to give, make or take
any request, demand, authorization, direction, notice, consent, waiver or other
action provided or permitted by this Indenture to be given, made or taken by
Holders of Securities of such series, provided that the Company may
not set a record date for, and the provisions of this paragraph shall not apply
with respect to, the giving or making of any notice, declaration, request or
direction referred to in the next paragraph. If any record date is set pursuant
to this paragraph, the Holders of Outstanding Securities of the relevant series
on such record date, and no other Holders, shall be entitled to take the
relevant action, whether or not such Holders remain Holders after such record
date; provided that no
such action shall be effective hereunder unless taken on or prior to the
applicable Expiration Date by Holders 

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

     

    of the
requisite principal amount of Outstanding Securities of such series on such
record date. Nothing in this paragraph shall be construed to prevent the Company
from setting a new record date for any action for which a record date has
previously been set pursuant to this paragraph (whereupon the record date
previously set shall automatically and with no action by any Person be cancelled
and of no effect), and nothing in this paragraph shall be construed to render
ineffective any action taken by Holders of the requisite principal amount of
Outstanding Securities of the relevant series on the date such action is taken.
Promptly after any record date is set pursuant to this paragraph, the Company,
at its own expense, shall cause notice of such record date, the proposed action
by Holders and the applicable Expiration Date to be given to the Trustee in
writing and to each Holder of Securities of the relevant series in the manner
set forth in Section 106.

     

    The
Trustee may set any day as a record date for the purpose of determining the
Holders of Outstanding Securities of any series entitled to join in the giving
or making of (i) any Notice of Default, (ii) any declaration of
acceleration referred to in Section 502, (iii) any request to institute
proceedings referred to in Section 507(2) or (iv) any direction referred to
in Section 512, in each case with respect to Securities of such series. If any
record date is set pursuant to this paragraph, the Holders of Outstanding
Securities of such series on such record date, and no other Holders, shall be
entitled to join in such notice, declaration, request or direction, whether or
not such Holders remain Holders after such record date; provided that no such action
shall be effective hereunder unless taken on or prior to the applicable
Expiration Date by Holders of the requisite principal amount of Outstanding
Securities of such series on such record date. Nothing in this paragraph shall
be construed to prevent the Trustee from setting a new record date for any
action for which a record date has previously been set pursuant to this
paragraph (whereupon the record date previously set shall automatically and with
no action by any Person be cancelled and of no effect), and nothing in this
paragraph shall be construed to render ineffective any action taken by Holders
of the requisite principal amount of Outstanding Securities of the relevant
series on the date such action is taken. Promptly after any record date is set
pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause
notice of such record date, the proposed action by Holders and the applicable
Expiration Date to be given to the Company in writing and to each Holder of
Securities of the relevant series in the manner set forth in Section
106.

     

    With
respect to any record date set pursuant to this Section, the party hereto which
sets such record dates may designate any day as the “Expiration Date” and from
time to time may change the Expiration Date to any earlier or later day; provided that no such change
shall be effective unless notice of the proposed new Expiration Date is given to
the other party hereto in writing, and to each Holder of Securities of the
relevant series in the manner set forth in Section 106, on or prior to the
existing Expiration Date. If an Expiration Date is not designated with respect
to any record date set pursuant to this Section, the party hereto which set such
record date shall be deemed to have initially designated the 180th day after
such record date as the Expiration Date with respect thereto, subject to its
right to change the Expiration Date as provided in this paragraph.
Notwithstanding the foregoing, no Expiration Date shall be later than the 180th
day after the applicable record date.

     

    Without
limiting the foregoing, a Holder entitled hereunder to take any action hereunder
with regard to any particular Security may do so with regard to all or any part

     

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

    of the
principal amount of such Security or by one or more duly appointed agents each
of which may do so pursuant to such appointment with regard to all or any part
of such principal amount.

     

     

    
      	SECTION
      105.   	
              Notices,
      Etc., to Trustee and Company.

            

    

     

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

     

    (1) the Trustee by
any Holder or by 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, Attention: [Corporate Trust Administration],
or

     

    (2) the
Company by the Trustee or by any Holder shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if in writing and mailed,
first-class postage prepaid, to the Company addressed to it at 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; Waiver.

            

    

     

    Where
this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing
and mailed, first-class postage prepaid, to each Holder affected by such event,
at his address as it appears in the Security Register, not later than the latest
date (if any), and not earlier than the earliest date (if any), prescribed for
the giving of such notice. In any case where notice to Holders is given by mail,
neither the failure to mail such notice, nor any defect in any notice so mailed,
to any particular Holder shall affect the sufficiency of such notice with
respect to other Holders. Where this Indenture provides for notice in any
manner, such notice may be waived in writing by the Person entitled to receive
such notice, either before or after the event, and such waiver shall be the
equivalent of such notice. Waivers of notice by Holders shall be filed with the
Trustee, but such filing shall not be a condition precedent to the validity of
any action taken in reliance upon such waiver.

     

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

     

     

    
      	SECTION
      107.   	
              Conflict
      with Trust Indenture Act.

            

    

     

    If any
provision hereof limits, qualifies or conflicts with a provision of the Trust
Indenture Act which is required under such Act to be a part of and govern this
Indenture, the latter provision shall control. If any provision of this
Indenture modifies or excludes any provision of the Trust Indenture Act which
may be so modified or excluded, the latter provision shall be deemed to apply to
this Indenture as so modified or to be excluded, as the case may
be.

     

    
      
        
        

      

      
        -10-

        
          

        

      

      
        
        

      

    

     

    
      	SECTION
      108.   	
              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
      109.   	
              Successors
      and Assigns.

            

    

     

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

     

     

    
      	SECTION
      110.   	
              Separability
      Clause.

            

    

     

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

     

     

    
      	SECTION
      111.   	
              Benefits
      of Indenture.

            

    

     

    Nothing
in this Indenture or in the Securities, express or implied, shall give to any
Person, other than the parties hereto and their successors hereunder [, the
holders of Senior Indebtedness]* and the Holders, any benefit or any legal or
equitable right, remedy or claim under this Indenture.

     

     

    
      	SECTION
      112.   	
              Governing
      Law.

            

    

     

    This
Indenture and the Securities shall be governed by and construed in accordance
with the law of the State of New York.

     

     

    
      	SECTION
      113.   	
              Legal Holidays.

            

    

     

    In any
case where any Interest Payment Date, Redemption Date or Stated Maturity of any
Security shall not be a Business Day at any Place of Payment, then
(notwithstanding any other provision of this Indenture or of the Securities
(other than a provision of any Security which specifically states that such
provision shall apply in lieu of this Section)) payment of interest or principal
(and premium, if any) need not be made at such Place of Payment on such date,
but may be made on the next succeeding Business Day at such Place of Payment
with the same force and effect as if made on the Interest Payment Date or
Redemption Date, or at the Stated Maturity.

     

     

    article
two

    Security
Forms

     

     

    
      	SECTION
      201.   	
              Forms Generally.

            

    

     

    The
Securities of each series shall be in substantially the form set forth in this
Article, or in such other form as shall be established by or pursuant to a Board
Resolution or in one or more indentures supplemental hereto, in each case with
such appropriate insertions, omissions, substitutions and other variations as
are required or permitted by this Indenture, and may have such letters, numbers
or other marks of identification and such legends or endorsements placed thereon
as may be required to comply with the rules of any securities exchange or
Depositary therefor or as may, consistently herewith, be determined by the
officers executing such Securities, as evidenced by their execution thereof. If
the form of Securities of any series is established by action taken pursuant to
a Board Resolution, a copy of an appropriate record of such action shall be
certified by the Secretary or an Assistant Secretary of the Company and
delivered to the Trustee at or prior to the delivery of the Company Order
contemplated by Section 303 for the authentication and delivery of such
Securities.

     

    
      
        
        

      

      
        -11-

        
          

        

      

      
        
        

      

    

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

     

     

    
      	SECTION
    202. 	
              Form
      of Face of Security.

            

    

     

    [Insert any legend required by the
Internal Revenue Code and the regulations thereunder.]

     

    Dime
Community Bancshares, Inc.

     

    [Insert title of the
Securities]

     

    No.
..........                                                                                                                                                                                                                                                                                                          $
.........

     

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

     

    
      
        
        

      

      
        -12-

        
          

        

      

      
        
        

      

    

     

    listed,
and upon such notice as may be required by such exchange, all as more fully
provided in said Indenture].

     

    [If the Security is not to bear
interest prior to Maturity, insert — The principal of this Security
shall not bear interest except in the case of a default in payment of principal
upon acceleration, upon redemption or at Stated Maturity and in such case the
overdue principal and any overdue premium shall bear interest at the rate of
.....% per annum (to the extent that the payment of such interest shall be
legally enforceable), from the dates such amounts are due until they are paid or
made available for payment. Interest on any overdue principal or premium shall
be payable on demand.]

     

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

     

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

     

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

     

    IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed
under its corporate seal.

     

    Dated:

     

                                                                                                                         .....................................................

     

    

     

                                                                                                                         By..................................................

     

    Attest:

     

    

     

    .........................................

     

     

    
      	SECTION
    203.  	
              Form
      of Reverse of Security.

            

    

     

    This
Security is one of a duly authorized issue of securities of the Company (herein
called the “Securities”), issued and to be issued in one or more series under an
Indenture, dated as of ............... (herein called the “Indenture”, which
term shall have the meaning assigned to it in such instrument), between the
Company and ..................., as Trustee (herein called the “Trustee”, which
term includes any successor trustee under the Indenture), and reference is
hereby made to the Indenture for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Company, the
Trustee[, the holders of Senior Indebtedness]* and the Holders of the Securities
and 

     

    
      
        
        

      

      
        -13-

        
          

        

      

      
        
        

      

    

    of the
terms upon which the Securities are, and are to be, authenticated and delivered.
This Security is one of the series designated on the face hereof [if applicable, insert —,
limited in aggregate principal amount to $...........].

     

    [If applicable, insert —
The Securities of this series are subject to redemption upon not less than 30
days’ nor more than 60 days’ notice by mail, at any time [if applicable, insert —
on or after .........., 20..], as a whole or in part, at the election of the
Company, at the following Redemption Prices (expressed as percentages of the
principal amount): If redeemed [if applicable, insert —
on or before ..............., ...%, and if redeemed] during the 12-month period
beginning ............. of the years indicated,

     

     

    
      	
              
                Year

              

            	
              
                Redemption

                Price

              

            	
              
                Year

              

            	
              
                Redemption

                Price

              

            

    

     

     

     

     

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

     

    [If applicable, insert —
The Securities of this series are subject to redemption upon not less than
30 days’ notice by mail, (1) on ............ in any year commencing
with the year .... and ending with the year .... through operation of the
sinking fund for this series at the Redemption Prices for redemption through
operation of the sinking fund (expressed as percentages of the principal amount)
set forth in the table below, and (2) at any time [if applicable, insert —
on or after ............], as a whole or in part, at the election of the
Company, at the Redemption Prices for redemption otherwise than through
operation of the sinking fund (expressed as percentages of the principal amount)
set forth in the table below: If redeemed during the 12-month period beginning
............. of the years indicated,

     

    
       

      
        
          	
                  Year

                	
                  
                    Redemption
      Price

                    For
      Redemption

                    Through
      Operation

                    of
      the

                    Sinking
      Fund

                  

                	
                  
                    Redemption
      Price For

                    Redemption
      Otherwise

                    Than
      Through Operation

                    of
      the Sinking Fund

                  

                

        

      

    

     

     

    
      
        
        

      

      
        -14-

        
          

        

      

      
        
        

      

    

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

     

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

     

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

     

    [If the Security is subject to
redemption of any kind, insert — In the event of redemption of this
Security in part only, a new Security or Securities of this series and of like
tenor for the unredeemed portion hereof will be issued in the name of the Holder
hereof upon the cancellation hereof.]

     

    [Insert paragraph regarding
subordination of the Security.]*

     

    [If applicable, insert —
The Indenture contains provisions for defeasance at any time of [the entire
indebtedness of this Security] [or] [certain restrictive
covenants and Events of Default with respect to this Security] [, in each case]
upon compliance with certain conditions set forth in the
Indenture.]

     

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

     

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

     

    
      
        
        

      

      
        -15-

        
          

        

      

      
        
        

      

    

     

    enforceable),
all of the Company’s obligations in respect of the payment of the principal of
and premium and interest, if any, on the Securities of this series shall
terminate.]

     

    The
Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Company and
the rights of the Holders of the Securities of each series to be affected under
the Indenture at any time by the Company and the Trustee with the consent of the
Holders of a majority in principal amount of the Securities at the time
Outstanding of each series to be affected. The Indenture also contains
provisions permitting the Holders of specified percentages in principal amount
of the Securities of each series at the time Outstanding, on behalf of the
Holders of all Securities of such series, to waive compliance by the Company
with certain provisions of the Indenture and certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder of
this Security shall be conclusive and binding upon such Holder and upon all
future Holders of this Security and of any Security issued upon the registration
of transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Security.

     

    As
provided in and subject to the provisions of the Indenture, the Holder of this
Security shall not have the right to institute any proceeding with respect to
the Indenture or for the appointment of a receiver or trustee or for any other
remedy thereunder, unless such Holder shall have previously given the Trustee
written notice of a continuing Event of Default with respect to the Securities
of this series, the Holders of not less than 25% in principal amount of the
Securities of this series at the time Outstanding shall have made written
request to the Trustee to institute proceedings in respect of such Event of
Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee
shall not have received from the Holders of a majority in principal amount of
Securities of this series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60
days after receipt of such notice, request and offer of indemnity. The foregoing
shall not apply to any suit instituted by the Holder of this Security for the
enforcement of any payment of principal hereof or any premium or interest hereon
on or after the respective due dates expressed herein.

     

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

     

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

     

    
      
        
        

      

      
        -16-

        
          

        

      

      
        
        

      

    

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

     

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

     

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

     

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

     

     

    
      	SECTION
    204.  	
              Form
      of Legend for Global Securities.

            

    

     

    Unless
otherwise specified as contemplated by Section 301 for the Securities evidenced
thereby, every Global Security authenticated and delivered hereunder shall bear
a legend in substantially the following form:

     

    This
Security is a Global Security within the meaning of the Indenture hereinafter
referred to and is registered in the name of a Depositary or a nominee thereof.
This Security may not be exchanged in whole or in part for a Security
registered, and no transfer of this Security in whole or in part may be
registered, in the name of any Person other than a transfer of this Security as
a whole by the depositary to a nominee thereof, or by a nominee of a depositary
to the depositary or another nominee thereof or by the depositary or any nominee
thereof to a successor of the depositary, or a nominee of the successor
depositary, except in the limited circumstances described in the
Indenture.

     

     

    
      	SECTION
    205.  	
              Form
      of Trustee’s Certificate of
Authentication.

            

    

     

    The
Trustee’s certificates 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.

     

    .................................................,

     

    As
Trustee

     

    
      
        
        

      

      
        -17-

        
          

        

      

      
        
        

      

    

    

     

    By..............................................

     

    Authorized
Officer

     

     

    

     

     

    

     

    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. There shall be established in or
pursuant to a Board Resolution and, subject to Section 303, set forth, or
determined in the manner provided, in an Officers’ Certificate, or established
in one or more indentures supplemental hereto, prior to the issuance of
Securities of any series,

     

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

     

    (2) any limit
upon the aggregate principal amount of the Securities of the series which may be
authenticated and delivered under this Indenture (except for Securities
authenticated and delivered upon registration of transfer of, or in exchange
for, or in lieu of, other Securities of the series pursuant to Section 304, 305,
306, 906 or 1107 and except for any Securities which, pursuant to Section 303,
are deemed never to have been authenticated and delivered
hereunder);

     

    (3) the
Person to whom any interest on a Security of the series shall be payable, if
other than the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest;

     

    (4) the date
or dates on which the principal of any Securities of the series is
payable;

     

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

     

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

     

    (7) the period or
periods within which, the price or prices at which and the terms and conditions
upon which any Securities of the series may be redeemed, in whole or in part, at
the option of the Company and, if other than by a Board Resolution, the manner
in which any election by the Company to redeem the Securities shall be
evidenced;

     

    
      
        
        

      

      
        -18-

        
          

        

      

      
        
        

      

    

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

     

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

     

    (10) if the
amount of principal of or any premium or interest on any Securities of the
series may be determined with reference to an index or pursuant to a formula,
the manner in which such amounts shall be determined;

     

    (11) if other
than the currency of the United States of America, the currency, currencies or
currency units in which the principal of or any premium or interest on any
Securities of the series shall be payable and the manner of determining the
equivalent thereof in the currency of the United States of America for any
purpose, including for purposes of the definition of “Outstanding” in
Section 101;

     

    (12) if the
principal of or any premium or interest on any Securities of the series is to be
payable, at the election of the Company or the Holder thereof, in one or more
currencies or currency units other than that or those in which such Securities
are stated to be payable, the currency, currencies or currency units in which
the principal of or any premium or interest on such Securities as to which such
election is made shall be payable, the periods within which and the terms and
conditions upon which such election is to be made and the amount so payable (or
the manner in which such amount shall be determined);

     

    (13) if other
than the entire principal amount thereof, the portion of the principal amount of
any Securities of the series which shall be payable upon declaration of
acceleration of the Maturity thereof pursuant to Section 502;

     

    (14) if the
principal amount payable at the Stated Maturity of any Securities of the series
will not be determinable as of any one or more dates prior to the Stated
Maturity, the amount which shall be deemed to be the principal amount of such
Securities as of any such date for any purpose thereunder or hereunder,
including the principal amount thereof which shall be due and payable upon any
Maturity other than the Stated Maturity or which shall be deemed to be
Outstanding as of any date prior to the Stated Maturity (or, in any such case,
the manner in which such amount deemed to be the principal amount shall be
determined);

     

    (15) if
applicable, that the Securities of the series, in whole or any specified part,
shall be defeasible pursuant to Section 1302 or Section 1303 or both such
Sections and, if other than by a Board Resolution, the manner in which any
election by the Company to defease such Securities shall be
evidenced;

     

    (16) if
applicable, that any Securities of the series shall be issuable in whole or in
part in the form of one or more Global Securities and, in such case, the
respective Depositaries for such Global Securities, the form of any legend or
legends which 

     

    
      
        
        

      

      
        -19-

        
          

        

      

      
        
        

      

    

     

        
shall be borne by any such Global Security in addition to or in lieu of that set
forth in Section 204 and any circumstances in addition to or in lieu of those
set forth in Clause (2) of the

      
  last paragraph of Section 305 in which any such Global Security may be
exchanged in whole or in part for Securities registered, and any transfer of
such Global Security in whole or 

        
in part may be registered, in the name or names of Persons other than the
Depositary for such Global Security or a nominee thereof;

     

                                  
(17) any
addition to or change in the Events of Default which applies to any Securities
of the series and any change in the right of the Trustee or the requisite
Holders  

        
of such Securities to declare the principal amount thereof due and payable
pursuant to Section 502;

     

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

     

                                  
(19) any other
terms of the series (which terms shall not be inconsistent with the provisions
of this Indenture, except as permitted by Section 901(5))[; and

     

                                  
(20) the terms
pursuant to which the Securities of such series will be made subordinate in
right of payment to Senior Indebtedness and the definition of such Senior

        
Indebtedness with respect to such series; and, such Board Resolution, Officers’
Certificate or supplemental indenture, as the case may be, establishing the
terms of such series shall 

        
expressly state which articles, sections or other provisions thereof constitute
the “Subordination Provisions” with respect to the Securities of such
series]*.

     

    All
Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to the Board
Resolution   
referred to above and (subject to Section 303) set forth, or determined in
the manner provided, in the Officers’ Certificate referred to above or in any
such indenture supplemental hereto.

     

    If any of
the terms of the series are established by action taken pursuant to a Board
Resolution, a copy of an appropriate record of such action shall be certified by
the Secretary or an Assistant Secretary of the Company and delivered to the
Trustee at or prior to the delivery of the Officers’ Certificate setting forth
the terms of the series.

     

    [The
Securities of each series shall be subordinated in right of payment to Senior
Indebtedness as provided in the Subordination Provisions for such series. [The
Securities shall [not be superior in right of payment to, and shall] rank pari
passu with[,] — insert
description of existing debt of the Company that is intended to rank on a parity
with the Securities.]]*

     

     

    
      	SECTION
      302.   	
              Denominations.

            

    

     

    The
Securities of each series shall be issuable only in registered form without
coupons and only in such denominations as shall be specified as contemplated by
Section 301. In the absence of any such specified denomination with respect
to the 

     

    
      
        
        

      

      
        -20-

        
          

        

      

      
        
        

      

    

     

    Securities
of any series, the Securities of such series shall be issuable in denominations
of $1,000 and any integral multiple thereof.

     

     

    
      	SECTION
      303.   	
              Execution,
      Authentication, Delivery and
Dating.

            

    

     

    The
Securities shall be executed on behalf of the Company by its Chairman of the
Board, its Vice Chairman of the Board, its President or one of its Vice
Presidents, under its corporate seal reproduced thereon attested by its
Secretary or one of its Assistant Secretaries. The signature of any of these
officers on the Securities may be manual or facsimile.

     

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

     

    At any
time and from time to time after the execution and delivery of this Indenture,
the Company may deliver Securities of any series executed by the Company to the
Trustee for authentication, together with a Company Order for the authentication
and delivery of such Securities, and the Trustee in accordance with the Company
Order shall authenticate and deliver such Securities. If the form or terms of
the Securities of the series have been established by or pursuant to one or more
Board Resolutions as permitted by Sections 201 and 301, in authenticating
such Securities, and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall be entitled to
receive, and (subject to Section 601) shall be fully protected in relying upon,
an Opinion of Counsel stating,

     

    (1) if
the form of such Securities has been established by or pursuant to Board
Resolution as permitted by Section 201, that such form has been established in
conformity with the provisions of this Indenture;

     

    (2) if the
terms of such Securities have been established by or pursuant to Board
Resolution as permitted by Section 301, that such terms have been established in
conformity with the provisions of this Indenture; and

     

    (3) that such
Securities, when authenticated and delivered by the Trustee and issued by the
Company in the manner and subject to any conditions specified in such Opinion of
Counsel, will constitute valid and legally binding obligations of the Company
enforceable in accordance with their terms, subject to bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium and similar laws of general
applicability relating to or affecting creditors’ rights and to general equity
principles.

     

    If such
form or terms have been so established, the Trustee shall not be required to
authenticate such Securities if the issue of such Securities pursuant to this
Indenture will affect the Trustee’s own rights, duties or immunities under the
Securities and this Indenture or otherwise in a manner which is not reasonably
acceptable to the Trustee.

     

    
      
        
        

      

      
        -21-

        
          

        

      

      
        
        

      

    

    Notwithstanding
the provisions of Section 301 and of the preceding paragraph, if all
Securities of a series are not to be originally issued at one time, it shall not
be necessary to deliver the Officers’ Certificate otherwise required pursuant to
Section 301 or the Company Order and Opinion of Counsel otherwise required
pursuant to such preceding paragraph at or prior to the authentication of each
Security of such series if such documents are delivered at or prior to the
authentication upon original issuance of the first Security of such series to be
issued.

     

    Each
Security shall be dated the date of its authentication.

     

    No
Security shall be entitled to any benefit under this Indenture or be valid or
obligatory for any purpose unless there appears on such Security a certificate
of authentication substantially in the form provided for herein executed by the
Trustee by manual signature, and such certificate upon any Security shall be
conclusive evidence, and the only evidence, that such Security has been duly
authenticated and delivered hereunder. Notwithstanding the foregoing, if any
Security shall have been authenticated and delivered hereunder but never issued
and sold by the Company, and the Company shall deliver such Security to the
Trustee for cancellation as provided in Section 309, for all purposes of
this Indenture such Security shall be deemed never to have been authenticated
and delivered hereunder and shall never be entitled to the benefits of this
Indenture.

     

     

    
      	SECTION
      304.   	
              Temporary
      Securities.

            

    

     

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

     

    If
temporary Securities of any series are issued, the Company will cause definitive
Securities of that series to be prepared without unreasonable delay. After the
preparation of definitive Securities of such series, the temporary Securities of
such series shall be exchangeable for definitive Securities of such series upon
surrender of the temporary Securities of such series at the office or agency of
the Company in a Place of Payment for that series, without charge to the Holder.
Upon surrender for cancellation of any one or more temporary Securities of any
series, the Company shall execute and the Trustee shall authenticate and deliver
in exchange therefor one or more definitive Securities of the same series, of
any authorized denominations and of like tenor and aggregate principal amount.
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 and tenor.

     

     

    
      	SECTION
      305.   	
              Registration,
      Registration of Transfer and
Exchange.

            

    

     

    The
Company shall cause to be kept at the Corporate Trust Office of the Trustee a
register (the register maintained in such office and in any other office or
agency of the 

     

    
      
        
        

      

      
        -22-

        
          

        

      

      
        
        

      

    

     

    Company
in a Place of Payment being herein sometimes collectively referred to as the
“Security Register”) in which, subject to such reasonable regulations as it may
prescribe, the Company shall provide for the registration of Securities and of
transfers of Securities. The Trustee is hereby appointed “Security Registrar”
for the purpose of registering Securities and transfers of Securities as herein
provided.

     

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

     

    At the
option of the Holder, Securities of any series may be exchanged for other
Securities of the same series, of any authorized denominations and of like tenor
and aggregate principal amount, upon surrender of the Securities to be exchanged
at such office or agency. Whenever any Securities are so surrendered for
exchange, the Company shall execute, and the Trustee shall authenticate and
deliver, the Securities which the Holder making the exchange is entitled to
receive.

     

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

     

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

     

    No
service charge shall be made for any registration of transfer or exchange of
Securities, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in connection with any
registration of transfer or exchange of Securities, other than exchanges
pursuant to Section 304, 906 or 1107 not involving any transfer.

     

    If the
Securities of any series (or of any series and specified tenor) are to be
redeemed in part, the Company shall not be required (A) to issue, register
the transfer of or exchange any Securities of that series (or of that series and
specified tenor, as the case may be) during a period beginning at the opening of
business 15 days before the day of the mailing of a notice of redemption of
any such Securities selected for redemption under Section 1103 and ending at the
close of business on the day of such mailing, or (B) to register the
transfer of or exchange any Security so selected for redemption in whole or in
part, except the unredeemed portion of any Security being redeemed in
part.

     

    The
provisions of Clauses (1), (2), (3) and (4) below shall apply only to Global
Securities:

     

    
      
        
        

      

      
        -23-

        
          

        

      

      
        
        

      

    

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

     

    (2) Notwithstanding
any other provision in this Indenture, no Global Security may be exchanged in
whole or in part for Securities registered, and no transfer of a Global Security
in whole or in part may be registered, in the name of any Person other than a
transfer of this Security as a whole by the Depositary to a nominee thereof, or
by a nominee of the Depositary to the Depositary or another nominee thereof or
by the Depositary or any nominee thereof to a successor of the Depositary or a
nominee of the successor Depositary, unless (A) such Depositary (i) has notified
the Company that it is unwilling or unable to continue as Depositary for such
Global Security or (ii) has ceased to be a clearing agency registered under
the Exchange Act, (B) there shall have occurred and be continuing an Event
of Default with respect to such Global Security or (C) there shall exist such
circumstances, if any, in addition to or in lieu of the foregoing as have been
specified for this purpose as contemplated by Section 301.

     

    (3) Subject
to Clause (2) above, any exchange of a Global Security for other Securities may
be made in whole or in part, and all Securities issued in exchange for a Global
Security or any portion thereof shall be registered in such names as the
Depositary for such Global Security shall direct.

     

    (4) Every
Security authenticated and delivered upon registration of transfer of, or in
exchange for or in lieu of, a Global Security or any portion thereof, whether
pursuant to this Section, Section 304, 306, 906 or 1107 or otherwise, shall
be authenticated and delivered in the form of, and shall be, a Global Security,
unless such Security is registered in the name of a Person other than the
Depositary for such Global Security or a nominee thereof.

     

     

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

            

    

     

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

     

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

     

    
      
        
        

      

      
        -24-

        
          

        

      

      
        
        

      

    

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

     

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

     

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

     

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

     

     

    
      	SECTION
      307.   	
              Payment
      of Interest; Interest Rights
Preserved.

            

    

     

    Except as
otherwise provided as contemplated by Section 301 with respect to any series of
Securities, interest on any Security which is payable, and is punctually paid or
duly provided for, on any Interest Payment Date shall be paid to the Person in
whose name that Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such
interest.

     

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

     

    (1)  The
Company may elect to make payment of any Defaulted Interest to the Persons in
whose names the Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest, which shall be fixed in the following
manner. The Company shall notify the Trustee in writing of the amount of
Defaulted Interest proposed to be paid on each Security of such series and the
date of the proposed payment, and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount proposed to be
paid in respect of such Defaulted Interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of the proposed
payment, such money when deposited to be held in trust for the benefit of the
Persons entitled to such Defaulted Interest as in this Clause provided.
Thereupon the Trustee shall fix a Special Record Date for the payment of such
Defaulted Interest which shall be not more than 15 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 

     

    
      
        
        

      

      
        -25

        
          

        

      

      
        
        

      

    

    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 given to each
Holder of Securities of such series in the manner set forth in Section 106,
not less than 10 days prior to such Special Record Date. Notice of the
proposed payment of such Defaulted Interest and the Special Record Date therefor
having been so mailed, such Defaulted Interest shall be paid to the Persons in
whose names the Securities of such series (or their respective Predecessor
Securities) are registered at the close of business on such Special Record Date
and shall no longer be payable pursuant to the following
Clause (2).

     

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

     

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

     

     

    
      	SECTION
      308.   	
              Persons
      Deemed Owners.

            

    

     

    Prior to
due presentment of a Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name such Security is registered as the owner of such Security for the
purpose of receiving payment of principal of and any premium and (subject to
Section 307) any interest on such Security and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company,
the Trustee nor any agent of the Company or the Trustee shall be affected by
notice to the contrary.

     

     

    
      	SECTION
      309.   	
              Cancellation.

            

    

     

    All
Securities surrendered for payment, redemption, registration of transfer or
exchange or for credit against any sinking fund payment shall, if surrendered to
any Person other than the Trustee, be delivered to the Trustee and shall be
promptly cancelled by it. The Company may at any time deliver to the Trustee for
cancellation any Securities previously authenticated and delivered hereunder
which the Company may have acquired in any manner whatsoever, and may deliver to
the Trustee (or to any other Person for delivery to the Trustee) for
cancellation any Securities previously authenticated hereunder which the Company
has not issued and sold, and all Securities so delivered shall be promptly
cancelled 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 this Indenture. All cancelled Securities held by the
Trustee shall be disposed of as directed by a Company Order.

     

    
      
        
        

      

      
        -26-

        
          

        

      

      
        
        

      

    

     

    
      	SECTION
      310.   	
              Computation
      of Interest.

            

    

     

    Except as
otherwise specified as contemplated by Section 301 for Securities of any series,
interest on the Securities of each series shall be computed on the basis of a
360-day year of twelve 30-day months.

     

     

    
      	SECTION
      311.   	
              CUSIP

            

    

     

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

     

     

        ARTICLE FOUR

    Satisfaction
and Discharge

     

     

    
      	SECTION
      401.   	
              Satisfaction
      and Discharge of Indenture.

            

    

     

    This
Indenture shall upon Company Request cease to be of further effect (except as to
any surviving rights of registration of transfer or exchange of Securities
herein expressly provided for), and the Trustee, at the expense of the Company,
shall execute proper instruments acknowledging satisfaction and discharge of
this Indenture, when

     

    (1)
either

     

    (A) all
Securities theretofore authenticated and delivered (other than
(i) Securities which have been destroyed, lost or stolen and which have
been replaced or paid as provided in Section 306 and (ii) Securities
for whose payment money has theretofore been deposited in trust or segregated
and held in trust by the Company and thereafter repaid to the Company or
discharged from such trust, as provided in Section 1003) have been
delivered to the Trustee for cancellation; or

     

    (B) all
such Securities not theretofore delivered to the Trustee for
cancellation

     

    (i) have
become due and payable, or

     

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

     

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

     

    
      
        
        

      

      
        -27-

        
          

        

      

      
        
        

      

    

    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 the purpose money in an
amount sufficient to pay and discharge the entire indebtedness on such
Securities not theretofore delivered to the Trustee for cancellation, for
principal and any premium and interest to the date of such deposit (in the case
of Securities which have become due and payable) or to the Stated Maturity or
Redemption Date, as the case may be;

     

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

     

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

     

    Notwithstanding
the satisfaction and discharge of this Indenture, the obligations of the Company
to the Trustee under Section 607, the obligations of the Trustee to any
Authenticating Agent under Section 614 and, if money shall have been
deposited with the Trustee pursuant to subclause (B) of Clause (1) of
this Section, the obligations of the Trustee under Section 402 and the last
paragraph of Section 1003 shall survive.

     

     

    
      	SECTION
      402.   	
              Application
      of Trust Money.

            

    

     

    Subject
to the provisions of the last paragraph of Section 1003, all money
deposited with the Trustee pursuant to Section 401 shall be held in trust
and applied by it, in accordance with the provisions of the Securities and this
Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal and any premium and
interest for whose payment such money has been deposited with the
Trustee.

     

     

    

    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 [occasioned by the Subordination Provisions of a
Security of such series or 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):

     

    (1)
default in the payment of any interest upon any Security of that series when it
becomes due and payable, and continuance of such default for a period of
30 days; or

     

    
      
        
        

      

      
        -28-

        
          

        

      

      
        
        
                                (2) default
in the payment of the principal of or any premium on any Security of that series
at its Maturity; or

    

     

    (3) default
in the deposit of any sinking fund payment, when and as due by the terms of a
Security of that series; or

     

    (4) default
in the performance, or breach, of any covenant or warranty of the Company in
this Indenture (other than a covenant or warranty a default in whose performance
or whose breach is elsewhere in this Section specifically dealt with or which
has expressly been included in this Indenture solely for the benefit of series
of Securities other than that series), and continuance of such default or breach
for a period of 90 days after there has been given, by registered or certified
mail, to the Company by the Trustee or to the Company and the Trustee by the
Holders of at least 25% in principal amount of the Outstanding Securities of
that 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

     

               
(5)             [a
default under any bond, debenture, note or other evidence of indebtedness for
money borrowed by the Company (including a default with respect to Securities of
any series other than that series) having an aggregate principal amount
outstanding of at least $[25 million], or under any mortgage, indenture or
instrument (including this Indenture) under which there may be issued or by
which there may be secured or evidenced any indebtedness for money borrowed by
the Company whether such indebtedness now exists or shall hereafter be created,
which default shall have resulted in such indebtedness becoming or being
declared due and payable prior to the date on which it would otherwise have
become due and payable, without such indebtedness having been discharged, or
such acceleration having been rescinded or annulled, within a period of
10 days after there shall have 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 that series a written notice specifying such default and requiring the
Company to cause such indebtedness to be discharged or cause such acceleration
to be rescinded or annulled, as the case may be, and stating that such notice is
a “Notice of Default” hereunder; or]†

     

              
(6)  a court having jurisdiction in the premises shall enter a decree
or order for relief in respect of the Company in an involuntary case under any
applicable bankruptcy,  insolvency or other similar law now or hereafter in
effect, or appoints a receiver, liquidator, assignee, custodian, trustee,
sequestrator or other similar official of the Company or of any substantial part
of its property, or orders the winding up or liquidation of its affairs and such
decree, appointment or order shall remain unstayed and in effect for a period of
90 consecutive days; or

     

              
(7)  the Company shall commence a voluntary case under any applicable
bankruptcy, insolvency or other similar law now or hereafter in effect, shall
consent to the entry of an order for relief in an involuntary case under any
such law, or shall consent to the appointment of or taking possession by a
receiver, liquidator, assignee, trustee, custodian, sequestrator or other
similar official of the Company or of any 

     

    
      
        
        

      

      
        -29-

        
          

        

      

      
        
        

      

    

     

    substantial
part of its property, or shall make any general assignment for the benefit of
creditors, or shall fail generally to pay its debts as they become due;
or

     

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

     

     

    
      	SECTION
      502.   	
              Acceleration
      of Maturity; Rescission and
Annulment.

            

    

     

    If an
Event of Default (other than an Event of Default specified in
Section 501(6) or 501(7)) with respect to Securities of any series at the
time Outstanding occurs and is continuing, then in every such case the Trustee
or the Holders of not less than 25% in principal amount of the Outstanding
Securities of that series may declare the principal amount of all the Securities
of that series (or, if any Securities of that series are Original Issue Discount
Securities, such portion of the principal amount of such Securities as may be
specified by the terms thereof) to be due and payable immediately, by a notice
in writing to the Company (and to the Trustee if given by Holders), and upon any
such declaration such principal amount (or specified amount) shall become
immediately due and payable.

     

    If an
Event of Default described (other than an Event of Default specified in
Section 501(6) or 501(7)) occurs and is continuing, which Event of Default
is with respect to less than all series of Securities then Outstanding, then in
every such case the Trustee or the Holders of not less than 25% in principal
amount of the Securities of each such affected series then Outstanding (each
such series voting as a separate class) may declare the principal amount of all
Securities of such series (or, if the Securities of such series are Original
Issue Discount Securities, such portion of the principal amount of such
Securities as may be specified by the terms thereof) to be due and payable
immediately, by a notice in writing to the Company (and to the Trustee if given
by Holders), and upon such declaration such principal amount (or specified
amount) shall become immediately due and payable.

     

    If an
Event of Default specified in Section 501(6) or 501(7) with respect to
Securities of any series at the time Outstanding occurs, the principal amount of
all the Securities of that series (or, if any Securities of that series are
Original Issue Discount Securities, such portion of the principal amount of such
Securities as may be specified by the terms thereof) shall automatically, and
without any declaration or other action on the part of the Trustee or any
Holder, become immediately due and payable.

     

    At any
time after such a declaration of acceleration with respect to Securities of any
series has been made and before a judgment or decree for payment of the money
due has been obtained by the Trustee as hereinafter in this Article provided,
the Holders of a majority in principal amount of the Outstanding Securities of
that series, by 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 sufficient to
pay

     

    (A) all
overdue interest on all Securities of that series,

     

    
      
        
        

      

      
        -30-

        
          

        

      

      
        
        

      

    

    (B) the
principal of (and premium, if any, on) any Securities of that series which have
become due otherwise than by such declaration of acceleration and any interest
thereon at the rate or rates prescribed therefor in such
Securities,

     

    (C) to
the extent that payment of such interest is lawful, interest upon overdue
interest at the rate or rates prescribed therefor in 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

     

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

     

    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 any Security when such
interest becomes due and payable and such default continues for a period of
30 days, or

     

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

     

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

     

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

     

    
      
        
        

      

      
        -31-

        
          

        

      

      
        
        

      

    

     

    
      	SECTION
      504.   	
              Trustee
      May File Proofs of Claim.

            

    

     

    In case
of any judicial proceeding relative to the Company (or any other obligor upon
the Securities), its property or its creditors, the Trustee shall be entitled
and empowered, by intervention in such proceeding or otherwise, to take any and
all actions authorized under the Trust Indenture Act in order to have claims of
the Holders and the Trustee allowed in any such proceeding. In particular, the
Trustee shall be authorized to collect and receive any moneys or other property
payable or deliverable on any such claims and to distribute the same; and any
custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each
Holder to make such payments to the Trustee and, in the event that the Trustee
shall consent to the making of such payments directly to the Holders, to pay to
the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other
amounts due the Trustee under Section 607.

     

    No
provision of this Indenture shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Securities
or the rights of any Holder thereof or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceeding; provided, however, that the
Trustee may, on behalf of the Holders, vote for the election of a trustee in
bankruptcy or similar official and be a member of a creditors’ or other similar
committee.

     

     

    
      	SECTION
      505.   	
              Trustee
      May Enforce Claims Without Possession of
  Securities.

            

    

     

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

     

     

    
      	SECTION
      506.   	
              Application
      of Money Collected.

            

    

     

    Any money
collected by the Trustee pursuant to this Article 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 or interest,
upon presentation of the Securities and the notation thereon of the payment if
only partially paid and upon surrender thereof if fully paid:

     

    FIRST:  To
the payment of all amounts due the Trustee under Section 607;

     

    SECOND:  [Subject
to the Subordination Provisions with respect to such Securities, to]* [To]† the
payment of the amounts then due and unpaid for principal of and any premium and
interest on the Securities in respect of which or for the benefit of which such
money has been collected, ratably, without preference or 

     

    
      
        
        

      

      
        -32-

        
          

        

      

      
        
        

      

    

     

    priority
of any kind, according to the amounts due and payable on such Securities for
principal and any premium and interest, respectively; and

     

    THIRD:  To
the payment of the remainder, if any, to the Company or to such party as a court
of competent jurisdiction shall direct.

     

     

    
      	SECTION
      507.   	
              Limitation
      on Suits.

            

    

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

     

    
      	SECTION
      508.   	
              Unconditional
      Right of Holders to Receive Principal, Premium and
    Interest.

            

    

     

    Notwithstanding
any other provision in this Indenture, the Holder of any Security shall have the
right, which is absolute and unconditional, to receive payment of the principal
of and any premium and (subject to Section 307) interest on such Security
on the respective Stated Maturities expressed in such Security (or, in the case
of redemption, on the Redemption Date) and to institute suit for the enforcement
of any such payment, and such rights shall not be impaired without the consent
of such Holder.

     

    
      
        
        

      

      
        -33-

        
          

        

      

      
        
        

      

    

     

    
      	SECTION
      509.   	
              Restoration
      of Rights and Remedies.

            

    

     

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

     

     

    
      	SECTION
      510.   	
              Rights
      and Remedies Cumulative.

            

    

     

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

     

     

    
      	SECTION
      511.   	
              Delay
      or Omission Not Waiver.

            

    

     

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

     

     

    
      	SECTION
      512.   	
              Control
      by Holders.

            

    

     

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

     

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

     

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

     

     

    
      	SECTION
      513.   	
              Waiver
      of Past Defaults.

            

    

     

    The
Holders of not less than a majority in principal amount of the Outstanding
Securities of any series may on behalf of the Holders of all the Securities of
such series waive any past default hereunder with respect to such series and its
consequences, except a default

     

    
      
        
        

      

      
        -34-

        
          

        

      

      
        
        

      

    

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

     

    (2) 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.

     

     

    
      	SECTION
      514.   	
              Undertaking
      for Costs.

            

    

     

    In any
suit for the enforcement of any right or remedy under this Indenture, or in any
suit against the Trustee for any action taken, suffered or omitted by it as
Trustee, a court may require any party litigant in such suit to file an
undertaking to pay the costs of such suit, and may assess costs against any such
party litigant, in the manner and to the extent provided in the Trust Indenture
Act; provided that
neither this Section nor the Trust Indenture Act shall be deemed to authorize
any court to require such an undertaking or to make such an assessment in any
suit instituted by the Company.

     

     

    
      	SECTION
      515.   	
              Waiver
      of Usury, Stay or Extension Laws.

            

    

     

    The
Company covenants (to the extent that it may lawfully do so) that it will not at
any time insist upon, or plead, or in any manner whatsoever claim or take the
benefit or advantage of, any usury, stay or extension law wherever enacted, now
or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and the Company (to the extent that it may
lawfully do so) hereby expressly waives all benefit or advantage of any such law
and covenants that it will not hinder, delay or impede the execution of any
power herein granted to the Trustee, but will suffer and permit the execution of
every such power as though no such law had been enacted.

     

     

    ARTICLE SIX

    The
Trustee

     

     

    
      	SECTION
      601.   	
              Certain
      Duties and Responsibilities.

            

    

     

    The
duties and responsibilities of the Trustee shall be as provided by the Trust
Indenture Act. Notwithstanding the foregoing, no provision of this Indenture
shall require the Trustee to expend or risk its own funds or otherwise incur any
financial liability in the performance of any of its duties hereunder, or in the
exercise of any of its rights or powers, if it shall have reasonable grounds for
believing that repayment of such funds or adequate indemnity against such risk
or liability is not reasonably assured to it. Whether or not therein expressly
so provided, every provision of this Indenture relating to the conduct or
affecting the liability of or affording protection to the Trustee shall be
subject to the provisions of this Section.

     

    
      
        
        

      

      
        -35-

        
          

        

      

      
        
        

      

    

     

    
      	SECTION
      602.   	
              Notice
      of Defaults.

            

    

     

    If a
default occurs hereunder with respect to Securities of any series, the Trustee
shall give the Holders of Securities of such series notice of such default as
and to the extent provided by the Trust Indenture Act; provided, however, that in
the case of any default of the character specified in Section 501(4) 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.

     

     

    
      	SECTION
      603.   	
              Certain
      Rights of Trustee.

            

    

     

    Subject
to the provisions of Section 601:

     

    (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, other evidence of
indebtedness or other paper or document believed by it to be genuine and to have
been signed or presented by the proper party or parties;

     

    (2) any
request or direction of the Company mentioned herein shall be sufficiently
evidenced by a Company Request or Company Order, and any resolution of the Board
of Directors shall 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 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 this Indenture at the request or direction of any of the Holders
pursuant to this Indenture, unless such Holders shall have offered to the
Trustee 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, note, other
evidence of indebtedness 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 

     

    
      
        
        

      

      
        -36-

        
          

        

      

      
        
        

      

    

     

    entitled
to examine 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
      604.   	
              Not
      Responsible for Recitals or Issuance of
  Securities.

            

    

     

    The
recitals contained herein and in the Securities, except the Trustee’s
certificates of authentication, shall be taken as the statements of the Company,
and neither the Trustee nor any Authenticating Agent assumes any responsibility
for their correctness. The Trustee makes no representations as to the validity
or sufficiency of this Indenture or of the Securities. Neither the Trustee nor
any Authenticating Agent shall be accountable for the use or application by the
Company of Securities or the proceeds thereof.

     

     

    
      	SECTION
      605.   	
              May
      Hold Securities.

            

    

     

    The
Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or
any other agent of the Company, in its individual or any other capacity, may
become the owner or pledgee of Securities and, subject to Sections 608 and 613,
may otherwise deal with the Company with the same rights it would have if it
were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such
other agent.

     

     

    
      	SECTION
      606.   	
              Money
      Held in Trust.

            

    

     

    Money
held by the Trustee in trust hereunder need not be segregated from other funds
except to the extent required by law. The Trustee shall be under no liability
for interest on any money received by it hereunder except as otherwise agreed
with the Company.

     

     

    
      	SECTION
      607.   	
              Compensation
      and Reimbursement.

            

    

     

    The
Company agrees

     

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

     

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

     

    
      
        
        

      

      
        -37-

        
          

        

      

      
        
        

      

    

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

     

     

    
      	SECTION
      608.   	
              Conflicting
      Interests.

            

    

     

    If the
Trustee has or shall acquire a conflicting interest within the meaning of the
Trust Indenture Act, the Trustee shall either eliminate such interest or resign,
to the extent and in the manner provided by, and subject to the provisions of,
the Trust Indenture Act and this Indenture. To the extent permitted by such Act,
the Trustee shall not be deemed to have a conflicting interest by virtue of
being a trustee under this Indenture with respect to Securities of more than one
series [or a trustee under — list here any prior indentures
between the Company and the Trustee that have not been satisfied and discharged
and that may be excluded by the proviso to Section 310(b)(1) of the Trust
Indenture Act].

     

     

    
      	SECTION
      609.   	
              Corporate
      Trustee Required; Eligibility.

            

    

     

    There
shall at all times be one (and only one) Trustee hereunder with respect to the
Securities of each series, which may be Trustee hereunder for Securities of one
or more other series. Each Trustee shall be a Person that is eligible pursuant
to the Trust Indenture Act to act as such, has a combined capital and surplus of
at least $50,000,000 and has its Corporate Trust Office in the Borough of
Manhattan, The City of New York. If any such Person publishes reports of
condition at least annually, pursuant to law or to the requirements of its
supervising or examining authority, then for the purposes of this Section and to
the extent permitted by the Trust Indenture Act, the combined capital and
surplus of such Person shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published. If at any time
the Trustee with respect to the Securities of any series 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
      610.   	
              Resignation
      and Removal; Appointment of
Successor.

            

    

     

    No
resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of
appointment by the successor Trustee in accordance with the applicable
requirements of Section 611.

     

    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 611 shall not have
been delivered to the Trustee within 30 days after the giving of such notice of
resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the
Securities of such series.

     

    
      
        
        

      

      
        -38-

        
          

        

      

      
        
        

      

    

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

     

    If at any
time:

     

    (1) the
Trustee shall fail to comply with Section 608 after written request therefor by
the Company or by any Holder who has been a bona fide Holder of a Security for
at least six months, or

     

    (2) the
Trustee shall cease to be eligible under Section 609 and shall fail to resign
after written request therefor by the Company or by any such Holder,
or

     

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

     

    then, in
any such case, (A) the Company by a Board Resolution may remove the Trustee
with respect to all Securities, or (B) subject to Section 514, any
Holder who has been a bona fide Holder of a Security for at least six months
may, on behalf of himself and all others similarly situated, petition any court
of competent jurisdiction for the removal of the Trustee with respect to all
Securities and the appointment of a successor Trustee or Trustees.

     

    If the
Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, with respect to the
Securities of one or more series, the Company, by a Board Resolution, shall
promptly appoint a successor Trustee or Trustees with respect to the Securities
of that or those series (it being understood that any such successor Trustee may
be appointed with respect to the Securities of one or more or all of such series
and that at any time there shall be only one Trustee with respect to the
Securities of any particular series) and shall comply with the applicable
requirements of Section 611. 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 611, 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 and accepted appointment in the manner
required by Section 611, any Holder who has been a bona fide Holder of a
Security of such series for at least six months may, on behalf of himself and
all others similarly situated, petition any court of competent jurisdiction for
the appointment of a successor Trustee with respect to the Securities of such
series.

     

    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

     

    
      
        
        

      

      
        -39-

        
          

        

      

      
        
        

      

    

     

    Trustee
with respect to the Securities of any series to all Holders of Securities of
such series in the manner provided in Section 106. 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
      611.   	
              Acceptance
      of Appointment by Successor.

            

    

     

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

     

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

     

    Upon
request of any such successor Trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such
successor 

     

    
      
        
        

      

      
        -40-

        
          

        

      

      
        
        

      

    

    Trustee
all such rights, powers and trusts referred to in the first or second preceding
paragraph, as the case may be.

     

    No
successor Trustee shall accept its appointment unless at the time of such
acceptance such successor Trustee shall be qualified and eligible under this
Article.

     

     

    
      	SECTION
      612.   	
              Merger,
      Conversion, Consolidation or Succession to
  Business.

            

    

     

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

     

     

    
      	SECTION
      613.   	
              Preferential
      Collection of Claims Against
Company.

            

    

     

    If and
when the Trustee shall be or become a creditor of the Company (or any other
obligor upon the Securities), the Trustee shall be subject to the provisions of
the Trust Indenture Act regarding the collection of claims against the Company
(or any such other obligor).

     

     

    
      	SECTION
      614.   	
              Appointment
      of Authenticating Agent.

            

    

     

    The
Trustee may appoint an Authenticating Agent or Agents with respect to one or
more series of Securities which shall be authorized to act on behalf of the
Trustee to authenticate Securities of such series issued upon original issue and
upon exchange, registration of transfer or partial redemption thereof 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. Each Authenticating Agent shall be
acceptable to the Company and shall at all times be a corporation organized and
doing business under the laws of the United States of America, any State thereof
or the District of Columbia, authorized under such laws to act as Authenticating
Agent, having a combined capital and surplus of not less than $50,000,000 and
subject to supervision or examination by Federal or State authority. If such
Authenticating Agent publishes reports of condition at least annually, pursuant
to law or to the requirements of said supervising or examining authority, then
for the purposes of this Section, the combined capital and surplus of such
Authenticating Agent shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published. If at any time an
Authenticating Agent 

     

    
      
        
        

      

      
        -41-

        
          

        

      

      
        
        

      

    

     

    shall
cease to be eligible in accordance with the provisions of this Section, such
Authenticating Agent shall resign immediately in the manner and with the effect
specified in this Section.

     

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

     

    An
Authenticating Agent may resign at any time by giving written notice thereof to
the Trustee and to the Company. The Trustee may at any time terminate the agency
of an Authenticating Agent by giving written notice thereof to such
Authenticating Agent and to the Company. Upon receiving such a notice of
resignation or upon such a termination, or in case at any time such
Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section, the Trustee may appoint a successor Authenticating
Agent which shall be acceptable to the Company and shall give notice of such
appointment in the manner provided in Section 106 to all Holders of
Securities of the series with respect to which such Authenticating Agent will
serve. Any successor Authenticating Agent upon acceptance of its appointment
hereunder shall become vested with all the rights, powers and duties of its
predecessor hereunder, with like effect as if originally named as an
Authenticating Agent. No successor Authenticating Agent shall be appointed
unless eligible under the provisions of this Section.

     

    The
Trustee agrees to pay to each Authenticating Agent from time to time reasonable
compensation for its services under this Section, and the Trustee shall be
entitled to be reimbursed for such payments, subject to the provisions of
Section 607.

     

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

     

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

     

    ...................................................,

    As
Trustee

    

    By..................................................,

    As
Authenticating Agent

    

    By...................................................

    Authorized
Officer

     

    

    
      
        
        

      

      
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    SECTION SEVEN

    Holders’
Lists and Reports by Trustee and Company

     

     

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

            

    

     

    The
Company will furnish or cause to be furnished to the Trustee

     

    (1)
semi-annually, not later than ............... and ................... in each
year, a list, in such form as the Trustee may reasonably require, of the names
and addresses of the Holders of Securities of each series as of the preceding
............... or .............., as the case may be, and

     

    (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;

     

    excluding from any such list
names and addresses received by the Trustee in its capacity as Security
Registrar.

     

     

    
      	SECTION
      702.   	
              Preservation
      of Information; Communications to
Holders.

            

    

     

    The
Trustee shall preserve, in as current a form as is reasonably practicable, the
names and addresses of Holders contained in the most recent list furnished to
the Trustee as provided in Section 701 and the names and addresses of
Holders received by the Trustee in its capacity as Security Registrar. The
Trustee may destroy any list furnished to it as provided in Section 701
upon receipt of a new list so furnished.

     

    The
rights of Holders to communicate with other Holders with respect to their rights
under this Indenture or under the Securities, and the corresponding rights and
privileges of the Trustee, shall be as provided by the Trust Indenture
Act.

     

    Every
Holder of Securities, by receiving and holding the same, agrees with the Company
and the Trustee that neither the Company nor the Trustee nor any agent of either
of them shall be held accountable by reason of any disclosure of information as
to names and addresses of Holders made pursuant to the Trust Indenture
Act.

     

     

    
      	SECTION
      703.   	
              Reports
      by Trustee.

            

    

     

    The
Trustee shall transmit to Holders such reports concerning the Trustee and its
actions under this Indenture as may be required pursuant to the Trust Indenture
Act at the times and in the manner provided pursuant thereto.

     

    [Reports
so required to be transmitted at stated intervals of not more than
12 months shall be transmitted no later than ............ in each calendar
year, commencing in ............]

     

    A copy of
each such report shall, at the time of such transmission to Holders, be filed by
the Trustee with each stock exchange upon which any Securities are listed,
with  

     

    
      
        
        

      

      
        -43-

        
          

        

      

      
        
        

      

    

    the
Commission and with the Company. The Company will notify the Trustee when any
Securities are listed on any stock exchange.

     

     

    
      	SECTION
      704.   	
              Reports
      by Company.

            

    

     

    The
Company shall file with the Trustee and the Commission, and transmit to Holders,
such information, documents and other reports, and such summaries thereof, as
may be required pursuant to the Trust Indenture Act at the times and in the
manner provided pursuant to such Act; provided that any such
information, documents or reports required to be filed with the Commission
pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the
Trustee within 15 days after the same is so required to be filed with the
Commission.

     

     

    ARTICLE EIGHT

    Consolidation,
Merger, Conveyance, Transfer or Lease

     

     

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

            

    

     

    Nothing
contained in this Indenture or in any of the Securities shall prevent any
consolidation or merger of the Company with or into any other Person (whether or
not affiliated with the Company, as the case may be), or successive
consolidations or mergers in which the Company or its successor or successors,
as the case may be, shall be a party or parties, or shall prevent any sale,
conveyance, transfer, lease or other disposition of the property of the Company,
or its successor or successors as the case may be, as an entirety, or
substantially as an entirety, to any other Person (whether or not affiliated
with the Company, or its successor or successors, as the case may be) authorized
to acquire and operate the same; provided that

     

    (1)           the
Company is the surviving Person, or the Person formed by or surviving any such
consolidation or merger (if other than the Company) or to which such sale,
conveyance, transfer, lease or other disposition of property is made is a Person
organized and existing under the laws of the United States or any State thereof
or the District of Columbia, and such Person expressly assumes all of the
obligations of the Company under the Securities and this Indenture
and

     

    (2)           after
giving effect to, any such consolidation, merger, sale, conveyance, transfer,
lease or other disposition, no Default or Event of Default shall have occurred
and be continuing.

     

     

    
      	SECTION
      802.   	
              Successor
      Substituted.

            

    

     

    In case
of any such consolidation, merger, sale, conveyance, transfer, lease or other
disposition, and upon the assumption by the successor corporation, by
supplemental indenture, executed and delivered to the Trustee and reasonably
satisfactory in form to the Trustee, of the obligation of due and punctual
payment of the principal of and premium, if any, and interest, if any, on all of
the Securities and the due and punctual performance and observance of all of the
covenants and conditions of this Indenture to be performed or observed by the
Company, such successor Person shall succeed to and be 

     

    
      
        
        

      

      
        -44-

        
          

        

      

      
        
        

      

    

     

    substituted
for the Company, with the same effect as if it had been named herein as the
Company, and the Company thereupon shall be relieved of any further liability or
obligation hereunder or upon the Securities. Such successor Person thereupon may
cause to be signed, and may issue either in its own name or in the name of the
Company, any or all of the Securities issuable hereunder which theretofore shall
not have been signed by the Company and delivered to the Trustee; and, upon the
order of such successor Person instead of the Company and subject to all the
terms, conditions and limitations in this Indenture prescribed, the Trustee or
the Authenticating Agent shall authenticate and deliver any Securities which
previously shall have been signed and delivered by any officer of the Company to
the Trustee or the Authenticating Agent for authentication, and any Securities
which such successor Person thereafter shall cause to be signed and delivered to
the Trustee or the Authenticating Agent for that purpose. All the Securities so
issued shall in all respects have the same legal rank and benefit under this
Indenture as the Securities theretofore or thereafter issued in accordance with
the terms of this Indenture as though all of such Securities had been issued at
the date of the execution hereof.

     

     

    ARTICLE NINE

    Supplemental
Indentures

     

     

    
      	SECTION
      901.   	
              Supplemental
      Indentures Without Consent of
Holders.

            

    

     

    The
Company, when authorized by a Board Resolution, and the Trustee may from time to
time and at any time enter into an indenture or indentures supplemental hereto,
without the consent of any Holders, in form satisfactory to the Trustee, for one
or more 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 herein and in the Securities;
or

     

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

     

    (3) to add
any additional Events of Default for the benefit of the Holders of all or any
series of Securities (and if such additional Events of Default are to be for the
benefit of less than all series of Securities, stating that such additional
Events of Default are expressly being included solely for the benefit of such
series); or

     

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

     

    
      
        
        

      

      
        -45-

        
          

        

      

      
        
        

      

    

    (5) to add
to, change or eliminate any of the provisions of this Indenture in respect of
one or more series of Securities, provided that any such
addition, change or elimination (A) shall neither (i) apply to any
Security of any series created prior to the execution of such supplemental
indenture and entitled to the benefit of such provision nor (ii) modify the
rights of the Holder of any such Security with respect to such provision or
(B) shall become effective only when there is no such Security Outstanding;
or

     

    (6) to secure
the Securities; or

     

    (7) to
establish the form or terms of Securities of any series as permitted by
Sections 201 and 301; or

     

    (8) to
evidence and provide for the acceptance of appointment hereunder by a successor
Trustee with respect to the Securities of one or more series and to add to or
change any of the provisions of this Indenture as shall be necessary to provide
for or facilitate the administration of the trusts hereunder by more than one
Trustee, pursuant to the requirements of Section 611; or

     

    (9) to cure
any ambiguity, to correct or supplement any provision herein which may be
defective or inconsistent with any other provision herein, or to make any other
provisions with respect to matters or questions arising under this Indenture,
provided that such
action pursuant to this Clause (9) shall not adversely affect the interests
of the Holders of Securities of any series in any material respect.

     

     

    
      	SECTION
      902.   	
              Supplemental
      Indentures With Consent of Holders.

            

    

     

    With the
consent of the Holders of not less than a majority in principal amount of the
Outstanding Securities of each series affected by such supplemental indenture,
by Act of said Holders delivered to the Company and the Trustee, the Company,
when authorized by a Board Resolution, 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 modifying in any manner the rights of the Holders of
Securities of such series under this Indenture; provided, however, that no
such supplemental indenture shall, without the consent of the Holder of each
Outstanding Security affected thereby,

     

    (1)
change the Stated Maturity of the principal of, or any instalment of principal
of or interest on, any Security, or reduce the principal amount thereof or the
rate of interest thereon or any premium payable upon the redemption thereof, or
reduce the amount of the principal of an Original Issue Discount Security or any
other Security which would be due and payable upon a declaration of acceleration
of the Maturity thereof pursuant to Section 502, or change any Place of
Payment where, or the coin or currency in which, any Security or any premium or
interest thereon is payable, or impair the right to institute suit for the
enforcement of any such payment on or after the Stated Maturity thereof (or, in
the case of redemption, on or after the Redemption Date), or [modify the
provisions of this Indenture with respect to the subordination of the Securities
in a manner adverse to the Holders, or]*

     

    
      
        
        

      

      
        -46-

        
          

        

      

      
        
        

      

    

    (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 this Indenture, or

     

    (3) modify
any of the provisions of this Section, Section 513 or Section 1008,
except to increase any such percentage or to provide that certain other
provisions of this Indenture cannot be modified or waived without the consent of
the Holder of each Outstanding Security affected thereby; provided, however, that this
clause shall not be deemed to require the consent of any Holder with respect to
changes in the references to “the Trustee” and concomitant changes in this
Section and Section 1008, or the deletion of this proviso, in accordance
with the requirements of Sections 611 and 901(8).

     

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

     

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

     

     

    
      	SECTION
      903.   	
              Execution
      of Supplemental Indentures.

            

    

     

    In
executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article or the modifications thereby of the trusts
created by this Indenture, the Trustee shall be entitled to receive, and
(subject to Section 601) shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of such supplemental indenture is authorized
or permitted by this Indenture. The Trustee may, but shall not be obligated to,
enter into any such supplemental indenture which affects the Trustee’s own
rights, duties or immunities under this Indenture or otherwise.

     

     

    
      	SECTION
      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 Securities
theretofore or thereafter authenticated and delivered hereunder shall be bound
thereby.

     

     

    
      	SECTION
      905.   	
              Conformity
      with Trust Indenture Act.

            

    

     

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

     

    
      
        
        

      

      
        -47-

        
          

        

      

      
        
        

      

    

     

    
      	SECTION
      906.   	
              Reference
      in Securities to Supplemental
Indentures.

            

    

     

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

     

     

    ARTICLE TEN

    Covenants

     

     

    
      	 SECTION
      1001.  	
              Payment
      of Principal, Premium and Interest.

            

    

     

    The
Company covenants and agrees for the benefit of each series of Securities that
it will duly and punctually pay the principal of and any premium and interest on
the Securities of that series in accordance with the terms of the Securities and
this Indenture.

     

     

    
      	SECTION
      1002.   	
              Maintenance
      of Office or Agency.

            

    

     

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

     

    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
will give prompt written notice to the Trustee of any such designation or
rescission and of any change in the location of any such other office or
agency.

     

     

    
      	SECTION
      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 will, on or before each due date of the principal of or any
premium or interest on any of the Securities of that series, segregate and hold
in trust for the benefit of the Persons entitled thereto a sum sufficient to pay
the principal and any 

     

    
      
        
        

      

      
        -48-

        
          

        

      

      
        
        

      

    

    premium
and interest so becoming due until such sums shall be paid to such Persons or
otherwise disposed of as herein provided and will promptly notify the Trustee of
its action or failure so to act.

     

    Whenever
the Company shall have one or more Paying Agents for any series of Securities,
it will, prior to each due date of the principal of or any premium or interest
on any Securities of that series, deposit with a Paying Agent a sum sufficient
to pay such amount, such sum to be held as provided by the Trust Indenture Act,
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 will cause each Paying Agent for any series of Securities other than the
Trustee to execute and deliver to the Trustee an instrument in which such Paying
Agent shall agree with the Trustee, subject to the provisions of this Section,
that such Paying Agent will (1) comply with the provisions of the Trust
Indenture Act applicable to it as a Paying Agent and (2) during the
continuance of any default by the Company (or any other obligor upon the
Securities of that series) in the making of any payment in respect of the
Securities of that series, upon the written request of the Trustee, forthwith
pay to the Trustee all sums held in trust by such Paying Agent for payment in
respect of the Securities of that series.

     

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

     

    Any money
deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of or any premium or interest on any
Security of any series and remaining unclaimed for two years after such
principal, premium or interest has 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 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 at the expense of the Company cause to be published
once, in a newspaper published in the English language, customarily published on
each Business Day and of general circulation in The City of New York, notice
that such money remains unclaimed and that, after a date specified therein,
which shall not be less than 30 days from the date of such publication, any
unclaimed balance of such money then remaining will be repaid to the
Company.

     

     

    
      	SECTION
      1004.   	
              Statement
      by Officers as to Default.

            

    

     

    The
Company will deliver to the Trustee, within 120 days after the end of each
fiscal year of the Company ending after the date hereof, an Officers’
Certificate, stating 

     

    
      
        
        

      

      
        -49-

        
          

        

      

      
        
        

      

    

     

    whether
or not to the best knowledge of the signers thereof the Company is in default in
the performance and observance of any of the terms, provisions and conditions of
this Indenture (without regard to any period of grace or requirement of notice
provided hereunder) and, if the Company shall be in default, specifying all such
defaults and the nature and status thereof of which they may have
knowledge.

     

     

    
      	SECTION
      1005.   	
              Existence.

            

    

     

    Subject
to Article Eight, the Company will do or cause to be done all things necessary
to preserve and keep in full force and effect its existence, rights (charter and
statutory) and franchises; provided, however, that the
Company shall not be required to preserve any such right or franchise if the
Board of Directors shall determine that the preservation thereof is no longer
desirable in the conduct of the business of the Company and that the loss
thereof is not disadvantageous in any material respect to the
Holders.

     

     

    
      	SECTION 1006.  	
              Maintenance
      of Properties.

            

    

     

    The
Company will cause all properties used or useful in the conduct of its business
or the business of any Subsidiary 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 from discontinuing the
operation or maintenance of any of such properties if such discontinuance is, in
the judgment of the Company, desirable in the conduct of its business or the
business of any Subsidiary and not disadvantageous in any material respect to
the Holders.

     

     

    
      	SECTION
      1007.   	
              Payment
      of Taxes and Other Claims.

            

    

     

    The
Company will pay or discharge or cause to be paid or discharged, before the same
shall become delinquent, (1) all taxes, assessments and governmental
charges levied or imposed upon the Company or any Subsidiary or upon the income,
profits or property of the Company or any Subsidiary, and (2) all lawful
claims for labor, materials and supplies which, if unpaid, might by law become a
lien upon the property of the Company or any Subsidiary; provided, however, that the
Company shall not be required to pay or discharge or cause to be paid or
discharged any such tax, assessment, charge or claim whose amount, applicability
or validity is being contested in good faith by appropriate
proceedings.

     

     

    
      	SECTION
      1008.   	
              Waiver
      of Certain Covenants.

            

    

     

    Except as
otherwise specified as contemplated by Section 301 for Securities of such
series, the Company may, with respect to the Securities of any series, omit in
any particular instance to comply with any term, provision or condition set
forth in any covenant provided pursuant to Section 301(18), 901(2) or
901(7) for the benefit of the Holders of such series or in Article Eight if
before the time for such compliance the Holders of at least a majority in
principal amount of the Outstanding Securities of such 

     

    
      
        
        

      

      
        -50-

        
          

        

      

      
        
        

      

    

     

    series
shall, by Act of such Holders, either waive such compliance in such instance or
generally waive compliance with such term, provision or condition, but no such
waiver shall extend to or affect such term, provision or condition except to the
extent so expressly waived, and, until such waiver shall become effective, the
obligations of the Company and the duties of the Trustee in respect of any such
term, provision or condition shall remain in full force and effect.

     

     

    ARTICLE ELEVEN

    Redemption
of Securities

     

     

    
      	SECTION
      1101.   	
              Applicability
      of Article.

            

    

     

    Securities
of any series which are redeemable before their Stated Maturity shall be
redeemable in accordance with their terms and (except as otherwise specified as
contemplated by Section 301 for such Securities) in accordance with this
Article.

     

     

    
      	SECTION
      1102.   	
              Election
      to Redeem; Notice to Trustee.

            

    

     

    The
election of the Company to redeem any Securities shall be evidenced by a Board
Resolution or in another manner specified as contemplated by Section 301
for such Securities. In case of any redemption at the election of the Company of
less than all the Securities of any series (including any such redemption
affecting only a single Security), 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, of
the principal amount of Securities of such series to be redeemed and, if
applicable, of the tenor of the Securities to be redeemed. In the case of any
redemption of Securities prior to the expiration of any restriction on such
redemption provided in the terms of such Securities or elsewhere in this
Indenture, the Company shall furnish the Trustee with an Officers’ Certificate
evidencing compliance with such restriction.

     

     

    
      	SECTION
      1103.   	
              Selection
      by Trustee of Securities to Be
Redeemed.

            

    

     

    If less
than all the Securities of any series are to be redeemed (unless all the
Securities of such series and of a specified tenor are to be redeemed or unless
such redemption affects only a single Security), 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 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 a portion
of the principal amount of any Security of such series, provided that the unredeemed
portion of the principal amount of any Security shall be in an authorized
denomination (which shall not be less than the minimum authorized denomination)
for such Security. If less than all the Securities of such series and of a
specified tenor are to be redeemed (unless such redemption affects only a single
Security), 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 and specified tenor not previously called
for redemption in accordance with the preceding sentence.

     

    
      
        
        

      

      
        -51-

        
          

        

      

      
        
        

      

    

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

     

    The
provisions of the two preceding paragraphs shall not apply with respect to any
redemption affecting only a single Security, whether such Security is to be
redeemed in whole or in part. In the case of any such redemption in part, the
unredeemed portion of the principal amount of the Security shall be in an
authorized denomination (which shall not be less than the minimum authorized
denomination) for such Security.

     

    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 amount of such Securities which has been or is to be
redeemed.

     

     

    
      	SECTION
      1104.   	
              Notice
      of Redemption.

            

    

     

    Notice of
redemption shall be given by first-class mail, postage prepaid, mailed not less
than 30 nor more than 60 days prior to the Redemption Date, to each Holder
of Securities to be redeemed, at his address appearing in the Security
Register.

     

    All
notices of redemption shall state:

     

    (1) the
Redemption Date,

     

    (2) the
Redemption Price,

     

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

     

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

     

    (5) the place
or places where each such Security is to be surrendered for payment of the
Redemption Price, and

     

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

     

    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 and shall be irrevocable.

     

    
      
        
        

      

      
        -52-

        
          

        

      

      
        
        

      

    

     

    
      	SECTION
      1105.   	
              Deposit
      of Redemption Price.

            

    

     

    Prior to
any Redemption Date, the Company shall deposit with the Trustee or with a Paying
Agent (or, if the Company is acting as its own Paying Agent, segregate and hold
in trust as provided in Section 1003) an amount of money sufficient to pay
the Redemption Price of, and (except if the Redemption Date shall be an Interest
Payment Date) accrued interest on, all the Securities which are to be redeemed
on that date.

     

     

    
      	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, and from and after such date (unless the Company shall
default in the payment of the Redemption Price and accrued interest) such
Securities shall cease to bear interest. Upon surrender of any such Security for
redemption in accordance with said notice, such Security shall be paid by the
Company at the Redemption Price, together with accrued interest to the
Redemption Date; provided,
however, that, unless otherwise specified as contemplated by
Section 301, instalments of interest whose Stated Maturity is on or prior
to the Redemption Date will be payable to the Holders of such Securities, or one
or more Predecessor Securities, registered as such at the close of business on
the relevant Record Dates according to their terms and the provisions of
Section 307.

     

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

     

     

    
      	SECTION
      1107.   	
              Securities
      Redeemed in Part.

            

    

     

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

     

     

    ARTICLE 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 any series except as otherwise specified as
contemplated by Section 301 for such Securities.

     

    
      
        
        

      

      
        -53-

        
          

        

      

      
        
        

      

    

    The
minimum amount of any sinking fund payment provided for by the terms of any
Securities 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 such
Securities is herein referred to as an “optional sinking fund payment”. If
provided for by the terms of any Securities, 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 as
provided for by the terms of such Securities.

     

     

    
      	SECTION
      1202.   	
              Satisfaction
      of Sinking Fund Payments with
Securities.

            

    

     

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

     

     

    
      	SECTION
      1203.   	
              Redemption
      of Securities for Sinking Fund.

            

    

     

    Not less
than 90 days prior to each sinking fund payment date for any Securities, the
Company will deliver to the Trustee an Officers’ Certificate specifying the
amount of the next ensuing sinking fund payment for such Securities pursuant to
the terms of such Securities, the portion thereof, if any, which is to be
satisfied by payment of cash and the portion thereof, if any, which is to be
satisfied by delivering and crediting Securities pursuant to Section 1202 and
will also deliver to the Trustee any Securities to be so delivered. Not less
than 60 days prior to 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

    Defeasance
and Covenant Defeasance

     

     

    
      	SECTION
      1301.   	
              Company’s
      Option to Effect Defeasance or Covenant
  Defeasance.

            

    

     

    The
Company may elect, at its option at any time, to have Section 1302 or Section
1303 applied to any Securities or any series of Securities, as the case may be,
designated pursuant to Section 301 as being defeasible pursuant to such
Section 1302 or 1303, in accordance with any applicable requirements provided
pursuant to Section 301 and upon compliance with the conditions set forth
below in this Article. Any such 

     

    
      
        
        

      

      
        -54-

        
          

        

      

      
        
        

      

    

     

    election
shall be evidenced by a Board Resolution or in another manner specified as
contemplated by Section 301 for such Securities.

     

     

    
      	SECTION
      1302.   	
              Defeasance
      and Discharge.

            

    

     

    Upon the
Company’s exercise of its option (if any) to have this Section applied to any
Securities or any series of Securities, as the case may be, the Company shall be
deemed to have been discharged from its obligations [and the Subordination
Provisions shall cease to be effective,]* with respect to such Securities as
provided in this Section on and after the date the conditions set forth in
Section 1304 are satisfied (hereinafter called “Defeasance”). For this
purpose, such Defeasance means that the Company shall be deemed to have paid and
discharged the entire indebtedness represented by such Securities and to have
satisfied all its other obligations under such Securities and this Indenture
insofar as such Securities are concerned (and the Trustee, at the expense of the
Company, shall execute proper instruments acknowledging the same), subject to
the following which shall survive until otherwise terminated or discharged
hereunder: (1) the rights of Holders of such Securities to receive, solely
from the trust fund described in Section 1304 and as more fully set forth
in such Section, payments in respect of the principal of and any premium and
interest on such Securities when payments are due, (2) the Company’s
obligations with respect to such Securities under Sections 304, 305, 306,
1002 and 1003, (3) the rights, powers, trusts, duties and immunities of the
Trustee hereunder and (4) this Article. Subject to compliance with this Article,
the Company may exercise its option (if any) to have this Section applied to any
Securities notwithstanding the prior exercise of its option (if any) to have
Section 1303 applied to such Securities.

     

     

    
      	SECTION
      1303.   	
              Covenant
      Defeasance.

            

    

     

    Upon the
Company’s exercise of its option (if any) to have this Section applied to any
Securities or any series of Securities, as the case may be, (1) the Company
shall be released from its obligations under Sections 1006 through 1008,
inclusive, and any covenants provided pursuant to Section 301(18), 901(2)
or 901(7) for the benefit of the Holders of such Securities[, and] (2) the
occurrence of any event specified in Sections 501(4) (with respect to any
of Sections 1006 through 1008, inclusive, and any such covenants provided
pursuant to Section 301(18), 901(2) or 901(7)), 501(5) and 501(8) shall be
deemed not to be or result in an Event of Default [and (3) the Subordination
Provisions shall cease to be effective]*, in each case with respect to such
Securities as provided in this Section on and after the date the conditions set
forth in Section 1304 are satisfied (hereinafter called “Covenant
Defeasance”). For this purpose, such Covenant Defeasance means that, with
respect to such Securities, 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 specified Section (to the extent so specified in the case of
Section 501(4)), whether directly or indirectly by reason of any reference
elsewhere herein to any such Section or by reason of any reference in any such
Section to any other provision herein or in any other document, but the
remainder of this Indenture and such Securities shall be unaffected
thereby.

     

    
      
        
        

      

      
        -55-

        
          

        

      

      
        
        

      

    

     

    
      	SECTION
      1304.   	
              Conditions
      to Defeasance or Covenant
Defeasance.

            

    

     

    The
following shall be the conditions to the application of Section 1302 or
Section 1303 to any Securities or any series of Securities, as the case may
be:

     

    (1) The
Company shall irrevocably have deposited or caused to be deposited with the
Trustee (or another trustee which satisfies the requirements contemplated by
Section 609 and agrees to comply with the provisions of this Article 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 benefits of
the Holders of such Securities, (A) money in an amount, or (B) U.S.
Government Obligations which through the scheduled payment of principal and
interest in respect thereof in accordance with their terms will provide, not
later than one day before the due date of any payment, money in an amount, or
(C) a combination thereof, in each case sufficient, in the opinion of a
nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, to pay and discharge,
and which shall be applied by the Trustee (or any such other qualifying trustee)
to pay and discharge, the principal of and any premium and interest on such
Securities on the respective Stated Maturities, in accordance with the terms of
this Indenture and such Securities. As used herein, “U.S. Government Obligation”
means (x) any security which is (i) a direct obligation of the United
States of America for the payment of which the full faith and credit of the
United States of America is pledged or (ii) an obligation of a Person
controlled or supervised by and acting as an agency or instrumentality of the
United States of America the payment of which is unconditionally guaranteed as a
full faith and credit obligation by the United States of America, which, in
either case (i) or (ii), is not callable or redeemable at the option of the
issuer thereof, and (y) any depositary receipt issued by a bank (as defined in
Section 3(a)(2) of the Securities Act) as custodian with respect to any
U.S. Government Obligation which is specified in Clause (x) above and held by
such bank for the account of the holder of such depositary receipt, or with
respect to any specific payment of principal of or interest on any U.S.
Government Obligation which is so specified and held, provided that (except as
required by law) such custodian is not authorized to make any deduction from the
amount payable to the holder of such depositary receipt from any amount received
by the custodian in respect of the U.S. Government Obligation or the specific
payment of principal or interest evidenced by such depositary
receipt.

     

    (2) In
the event of an election to have Section 1302 apply to any Securities or
any series of Securities, as the case may be, the Company shall have delivered
to the Trustee an Opinion of Counsel stating that (A) the Company has
received from, or there has been published by, the Internal Revenue Service a
ruling or (B) since the date of this instrument, there has been a change in
the applicable Federal income tax law, in either case (A) or (B) to the effect
that, and based thereon such opinion shall confirm that, the Holders of such
Securities will not recognize gain or loss for Federal income tax purposes as a
result of the deposit, Defeasance and discharge to be effected with respect to
such Securities and will be subject to Federal income tax on the same amount, in
the same manner and at the same times as would be the case if such deposit,
Defeasance and discharge were not to occur.

     

    
      
        
        

      

      
        -56-

        
          

        

      

      
        
        

      

    

    (3) In
the event of an election to have Section 1303 apply to any Securities or
any series of Securities, as the case may be, the Company shall have delivered
to the Trustee an Opinion of Counsel to the effect that the Holders of such
Securities will not recognize gain or loss for Federal income tax purposes as a
result of the deposit and Covenant Defeasance to be effected with respect to
such Securities and will be subject to Federal income tax on the same amount, in
the same manner and at the same times as would be the case if such deposit and
Covenant Defeasance were not to occur.

     

    (4) The
Company shall have delivered to the Trustee an Officers’ Certificate to the
effect that neither such Securities nor any other Securities of the same series,
if then listed on any securities exchange, will be delisted as a result of such
deposit.

     

    (5) No
event which is, or after notice or lapse of time or both would become, an Event
of Default with respect to such Securities or any other Securities shall have
occurred and be continuing at the time of such deposit or, with regard to any
such event specified in Sections 501(6) and (7), at any time on or prior to
the 90th day after the date of such deposit (it being understood that this
condition shall not be deemed satisfied until after such 90th day).

     

    (6) Such
Defeasance or Covenant Defeasance shall not cause the Trustee to have a
conflicting interest within the meaning of the Trust Indenture Act (assuming all
Securities are in default within the meaning of such Act).

     

    (7) Such
Defeasance or Covenant Defeasance shall not result in a breach or violation of,
or constitute a default under, any other agreement or instrument to which the
Company is a party or by which it is bound.

     

    (8) Such
Defeasance or Covenant Defeasance shall not result in the trust arising from
such deposit constituting an investment company within the meaning of the
Investment Company Act unless such trust shall be registered under such Act or
exempt from registration thereunder.

     

    (9) [At
the time of such deposit, (A) no default in the payment of any principal of or
premium or interest on any Senior Indebtedness shall have occurred and be
continuing, (B) no event of default with respect to any Senior Indebtedness
shall have resulted in such Senior Indebtedness becoming, and continuing to be,
due and payable prior to the date on which it would otherwise have become due
and payable (unless payment of such Senior Indebtedness has been made or duly
provided for), and (C) no other event of default with respect to any Senior
Indebtedness shall have occurred and be continuing permitting (after notice or
lapse of time or both) the holders of such Senior Indebtedness (or a trustee on
behalf of such holders) to declare such Senior Indebtedness due and payable
prior to the date on which it would otherwise have become due and
payable.]*

     

    (10) The
Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent with respect to
such Defeasance or Covenant Defeasance have been complied with.

     

    
      
        
        

      

      
        -57-

        
          

        

      

      
        
        

      

    

     

    
      	SECTION
      1305.   	
              Deposited
      Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous
      Provisions.

            

    

     

    Subject
to the provisions of the last paragraph of Section 1003, all money and U.S.
Government Obligations (including the proceeds thereof) deposited with the
Trustee or other qualifying trustee (solely for purposes of this Section and
Section 1306, the Trustee and any such other trustee are referred to
collectively as the “Trustee”) pursuant to Section 1304 in respect of any
Securities shall be held in trust and applied by the Trustee, in accordance with
the provisions of such Securities and this Indenture, to the payment, either
directly or through any such Paying Agent (including the Company acting as its
own Paying Agent) as the Trustee may determine, to the Holders of such
Securities, of all sums due and to become due thereon in respect of principal
and any premium and interest, but money so held in trust need not be segregated
from other funds except to the extent required by law.

     

    The
Company shall pay and indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against the U.S. Government Obligations deposited
pursuant to Section 1304 or the principal and interest received in respect
thereof other than any such tax, fee or other charge which by law is for the
account of the Holders of Outstanding Securities.

     

    Anything
in this Article to the contrary notwithstanding, the Trustee shall deliver or
pay to the Company from time to time upon Company Request any money or U.S.
Government Obligations held by it as provided in Section 1304 with respect
to any Securities 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 the Defeasance or Covenant Defeasance, as
the case may be, with respect to such Securities.

     

     

    
      	SECTION
      1306.   	
              Reinstatement.

            

    

     

    If the
Trustee or the Paying Agent is unable to apply any money in accordance with this
Article with respect to any Securities by reason of any order or judgment of any
court or governmental authority enjoining, restraining or otherwise prohibiting
such application, then the obligations under this Indenture and such Securities
from which the Company has been discharged or released pursuant to
Section 1302 or 1303 shall be revived and reinstated as though no deposit
had occurred pursuant to this Article with respect to such Securities, until
such time as the Trustee or Paying Agent is permitted to apply all money held in
trust pursuant to Section 1305 with respect to such Securities in
accordance with this Article; provided, however, that if
the Company makes any payment of principal of or any premium or interest on any
such Security following such reinstatement of its obligations, the Company shall
be subrogated to the rights (if any) of the Holders of such Securities to
receive such payment from the money so held in trust.

     

    
       

      
        	[SECTION
      1307.   	
                Effect
      on Subordination Provisions.

              

      

       

    

    Unless
otherwise expressly provided pursuant to Section 301(20) with respect to
the Securities of any series, the Subordination Provisions established pursuant
to Section 301(20) with respect to such series are hereby expressly made
subject to the 

     

    
      
        
        

      

      
        -58-

        
          

        

      

      
        
        

      

    

     

    provisions
for satisfaction and discharge and defeasance and covenant defeasance set forth
in Section 1302 and Section 1303 and, anything herein to the contrary
notwithstanding, upon the effectiveness of such satisfaction and discharge and
defeasance and covenant defeasance pursuant to Section 1302 and
Section 1303 with respect to the Securities of such series, such Securities
shall thereupon cease to be so subordinated and shall no longer be subject to
the Subordination Provisions established pursuant to Section 301(20) with
respect to such series and, without limitation to the foregoing, all moneys,
U.S. Government Obligations and other securities or property deposited with the
Trustee (or other qualifying trustee) in trust in connection with such
satisfaction and discharge, defeasance or covenant defeasance, as the case may
be, and all proceeds therefrom may be applied to pay the principal of, premium,
if any, and interest, if any, with respect to the Securities of such series as
and when the same shall become due and payable notwithstanding such
Subordination Provisions.]*

     

    _____________________________

     

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

     

    
      
         

      

      
        -59- 

        
          

        

      

      
         

      

    

    

    IN
WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly
executed, and their respective corporate seals to be hereunto affixed and
attested, all as of the day and year first above written.

     

    DIME
COMMUNITY BANCSHARES, INC.

     

    

     

    By...................................................

     

    Attest:

     

    ......................................

     

    ...........................................................

     

    

     

    By.......................................................

     

    Attest:

     

    

     

    ......................................

     

    
      
        
           

        

         

      

      
        -60- 

        
          

        

      

      
         

      

    

    STATE OF
NEW
YORK                                          )

     

    )  ss.:

     

    COUNTY OF
NEW
YORK                                                      )

     

    On the
..... day of ..........., ...., before me personally came
............................, to me known, who, being by me duly sworn, did
depose and say that he is .................... of Dime Community Bancshares,
Inc., one of the corporations described in and which executed the foregoing
instrument; that he knows the seal of said corporation; that the seal affixed to
said instrument is such corporate seal; that it was so affixed by authority of
the Board of Directors of said corporation; and that he signed his name thereto
by like authority.

     

    ...............................................

     

    STATE OF
NEW
YORK                                           )

     

    )  ss.:

     

    COUNTY OF
NEW
YORK                                                      )

     

    On the
..... day of ..........., ...., before me personally came
............................, to me known, who, being by me duly sworn, did
depose and say that he is .................... of
.................................., one of the corporations described in and
which executed the foregoing instrument; that he knows the seal of said
corporation; that the seal affixed to said instrument is such corporate seal;
that it was so affixed by authority of the Board of Directors of said
corporation; and that he signed his name thereto by like authority.

     

    .............................................

     

    

    
      
        
           

        

         

      

      
        -61-exhibit10-1.htm

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    PNG
VENTURES, INC.

    5310
Harvest Hill Road, Suite 229

    Dallas,
TX 75230

    

    April 1,
2009

    

    BY
FACSIMILE (212/759-0091)

    Fourth
Third LLC

    3785 Park
Avenue, Suite 3304

    New York,
NY 10152

    Attn.:
Brian J. Cavanagh, CFO

    

    RE:  Master
Rights Agreement, made and entered into as of the 26th date of
June, 2008 by and
among PNG Ventures, Inc. (“PNG”) and Fourth Third LLC (“Fourth
Third”)

    

    Ladies
and Gentlemen:

    

    The
purpose of this letter is to confirm our understanding regarding certain
provisions of the referenced Master Rights Agreement (the
“Agreement”).  Capitalized terms used herein, and not otherwise
defined herein, shall have the meanings ascribed to them in the
Agreement.

    

    
      	 
      	
              1.

            	
              The
      parties hereto agree that the term “Price Determination Date” shall be
      amended and restated in its entirety to read as
  follows:

            

    

    

    “Price Determination
Date” means the date that is the earliest to occur of (i) the closing of
a PIPE Offering, (ii) the date that the indebtedness under the Credit Agreement
is reduced to $30,000,000 or below, (iii) July 1, 2009, (iv) the date that a
Registration Statement with respect to the Shares is declared effective, or (v)
the date that the date that the last of the indebtedness of the Company in favor
of Black Forest International LLC. is repaid or discharged.

    

    
      	 
      	
              2.

            	
              The
      address for notices to PNG shall be amended to be the
      following:

            

    

    

    PNG
VENTURES, INC.

    5310
Harvest Hill Road, Suite 229

    Dallas,
TX 75230

    Attn.:  Cem
Hacioglu, CEO

    Facsimile:
(214) 634-6276

    

    With a
copy to:

    

    Sichenzia
Ross Friedman Ference LLP

    61
Broadway, 32nd
Floor

    New York,
NY 10006

    Attn.:  Gregory
Sichenzia, Esq.

    Facsimile:  (212)
930-9725

    Email:
gsichenzia@srff.com

    

    3.           The
provisions hereof shall be effective as of April 1, 2009.

    

    Except as
hereinabove provided, the provisions of the Agreement shall remain in full force
and effect.

    

    

    PNG
VENTURES,
INC.                                                                 FOURTH THIRD
LLC

    

    /s/ Cem
Hacioglu                                /s/ Seth B.
Taube

    Name: Cem
Hacioglu                                                                  Name:
Seth B. Taube

    Title:  President
and
CEO                                                                  Title:
Authorized Signatory

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]