Document:

exv4w2

Exhibit 4.2

COPANO ENERGY, L.L.C.

COPANO ENERGY FINANCE CORPORATION

as Issuers,

any Subsidiary Guarantors party hereto,

and

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

INDENTURE

Dated as of April 5, 2011

Debt Securities

 

 

CROSS-REFERENCE TABLE

	 	 	 
	TIA	 	Indenture
	Section	 	Section
	310(a)
	 	7.10
	(b)
	 	7.10
	(c)
	 	N.A.
	311(a)
	 	7.11
	(b)
	 	7.11
	(c)
	 	N.A.
	312(a)
	 	5.01
	(b)
	 	5.02
	(c)
	 	5.02
	313(a)
	 	5.03
	(b)
	 	5.03
	(c)
	 	13.03
	(d)
	 	5.03
	314(a)
	 	4.05
	(b)
	 	N.A.
	(c)(1)
	 	13.05
	(c)(2)
	 	13.05
	(c)(3)
	 	N.A.
	(d)
	 	N.A.
	(e)
	 	13.05
	(f)
	 	N.A.
	315(a)
	 	7.01
	(b)
	 	6.07 & 13.03
	(c)
	 	7.01
	(d)
	 	7.01
	(e)
	 	6.08
	316(a) (last sentence)
	 	1.01
	(a)(1)(A)
	 	6.06
	(a)(1)(B)
	 	6.06
	(a)(2)
	 	9.01(d)
	(b)
	 	6.04
	(c)
	 	5.04
	317(a)(1)
	 	6.02
	(a)(2)
	 	6.02
	(b)
	 	4.04
	318(a)
	 	13.07

 

N.A. means Not Applicable.

NOTE: This Cross-Reference table shall not, for any purpose, be deemed part of this Indenture.

i

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE I

DEFINITIONS AND INCORPORATION BY REFERENCE

	 
	 	 	 	 
	Section 1.01 Definitions
	 	 	1	 
	Section 1.02 Other Definitions
	 	 	6	 
	Section 1.03 Incorporation by Reference of Trust Indenture Act
	 	 	6	 
	Section 1.04 Rules of Construction
	 	 	7	 
	 
	 	 	 	 
	ARTICLE II

DEBT SECURITIES

	 
	 	 	 	 
	Section 2.01 Forms Generally
	 	 	7	 
	Section 2.02 Form of Trustee’s Certificate of Authentication
	 	 	7	 
	Section 2.03 Principal Amount; Issuable in Series
	 	 	8	 
	Section 2.04 Execution of Debt Securities
	 	 	10	 
	Section 2.05 Authentication and Delivery of Debt Securities
	 	 	11	 
	Section 2.06 Denomination of Debt Securities
	 	 	12	 
	Section 2.07 Registration of Transfer and Exchange
	 	 	12	 
	Section 2.08 Temporary Debt Securities
	 	 	13	 
	Section 2.09 Mutilated, Destroyed, Lost or Stolen Debt Securities
	 	 	14	 
	Section 2.10 Cancellation of Surrendered Debt Securities
	 	 	15	 
	Section 2.11 Provisions of the Indenture and Debt Securities for the Sole Benefit of the
Parties and the Holders
	 	 	15	 
	Section 2.12 Payment of Interest; Interest Rights Preserved
	 	 	15	 
	Section 2.13 Securities Denominated in Dollars
	 	 	16	 
	Section 2.14 Wire Transfers
	 	 	16	 
	Section 2.15 Securities Issuable in the Form of a Global Security
	 	 	16	 
	Section 2.16 Medium Term Securities
	 	 	18	 
	Section 2.17 Defaulted Interest
	 	 	19	 
	Section 2.18 CUSIP Numbers
	 	 	20	 
	 
	 	 	 	 
	ARTICLE III

REDEMPTION OF DEBT SECURITIES

	 
	 	 	 	 
	Section 3.01 Applicability of Article
	 	 	20	 
	Section 3.02 Notice of Redemption; Selection of Debt Securities
	 	 	20	 
	Section 3.03 Payment of Debt Securities Called for Redemption
	 	 	22	 
	Section 3.04 Mandatory and Optional Sinking Funds
	 	 	22	 
	Section 3.05 Redemption of Debt Securities for Sinking Fund
	 	 	23	 
	 
	 	 	 	 
	ARTICLE IV

PARTICULAR COVENANTS OF THE ISSUERS

	 
	 	 	 	 
	Section 4.01 Payment of Principal of, and Premium, if Any, and Interest on, Debt
Securities
	 	 	24	 
	Section 4.02 Maintenance of Offices or Agencies for Registration of Transfer, Exchange
and Payment of Debt Securities
	 	 	24	 
	Section 4.03 Appointment to Fill a Vacancy in the Office of Trustee
	 	 	25	 

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	 	 	Page
	Section 4.04 Duties of Paying Agents, etc.
	 	 	25	 
	Section 4.05 SEC Reports; Financial Statements
	 	 	26	 
	Section 4.06 Compliance Certificate
	 	 	26	 
	Section 4.07 Further Instruments and Acts
	 	 	27	 
	Section 4.08 Existence
	 	 	27	 
	Section 4.09 Maintenance of Properties
	 	 	27	 
	Section 4.10 Payment of Taxes and Other Claims
	 	 	27	 
	Section 4.11 Waiver of Certain Covenants
	 	 	27	 
	 
	 	 	 	 
	ARTICLE V

HOLDERS’ LISTS AND REPORTS BY THE TRUSTEE

	 
	 	 	 	 
	Section 5.01 Issuers to Furnish Trustee Information as to Names and Addresses of
Holders; Preservation of Information
	 	 	28	 
	Section 5.02 Communications to Holders
	 	 	28	 
	Section 5.03 Reports by Trustee
	 	 	28	 
	Section 5.04 Record Dates for Action by Holders
	 	 	29	 
	 
	 	 	 	 
	ARTICLE VI

REMEDIES OF THE TRUSTEE AND HOLDERS IN EVENT OF DEFAULT

	 
	 	 	 	 
	Section 6.01 Events of Default
	 	 	29	 
	Section 6.02 Collection of Debt by Trustee, etc
	 	 	31	 
	Section 6.03 Application of Moneys Collected by Trustee
	 	 	32	 
	Section 6.04 Limitation on Suits by Holders
	 	 	33	 
	Section 6.05 Remedies Cumulative; Delay or Omission in Exercise of Rights Not a Waiver
of Default
	 	 	34	 
	Section 6.06 Rights of Holders of Majority in Principal Amount of Debt Securities to
Direct Trustee and to Waive Default
	 	 	34	 
	Section 6.07 Trustee to Give Notice of Events of Defaults Known to It, but May Withhold
Such Notice in Certain Circumstances
	 	 	35	 
	Section 6.08 Requirement of an Undertaking to Pay Costs in Certain Suits Under the
Indenture or Against the Trustee
	 	 	35	 
	 
	 	 	 	 
	ARTICLE VII

CONCERNING THE TRUSTEE

	 
	 	 	 	 
	Section 7.01 Certain Duties and Responsibilities
	 	 	35	 
	Section 7.02 Certain Rights of Trustee
	 	 	37	 
	Section 7.03 Trustee Not Liable for Recitals in Indenture or in Debt Securities
	 	 	38	 
	Section 7.04 Trustee, Paying Agent or Registrar May Own Debt Securities
	 	 	38	 
	Section 7.05 Moneys Received by Trustee to Be Held in Trust
	 	 	38	 
	Section 7.06 Compensation and Reimbursement
	 	 	38	 
	Section 7.07 Right of Trustee to Rely on an Officers’ Certificate Where No Other
Evidence Specifically Prescribed
	 	 	39	 
	Section 7.08 Separate Trustee; Replacement of Trustee
	 	 	39	 
	Section 7.09 Successor Trustee by Merger
	 	 	40	 
	Section 7.10 Eligibility; Disqualification
	 	 	40	 
	Section 7.11 Preferential Collection of Claims Against Issuers
	 	 	41	 
	Section 7.12 Compliance with Tax Laws
	 	 	41	 

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	 	 	Page
	ARTICLE VIII

CONCERNING THE HOLDERS

	 
	 	 	 	 
	Section 8.01 Evidence of Action by Holders
	 	 	41	 
	Section 8.02 Proof of Execution of Instruments and of Holding of Debt Securities
	 	 	41	 
	Section 8.03 Who May Be Deemed Owner of Debt Securities
	 	 	41	 
	Section 8.04 Instruments Executed by Holders Bind Future Holders
	 	 	42	 
	 
	 	 	 	 
	ARTICLE IX

SUPPLEMENTAL INDENTURES

	 
	 	 	 	 
	Section 9.01 Purposes for Which Supplemental Indenture May Be Entered into Without
Consent of Holders
	 	 	43	 
	Section 9.02 Modification of Indenture with Consent of Holders of Debt Securities
	 	 	44	 
	Section 9.03 Effect of Supplemental Indentures
	 	 	45	 
	Section 9.04 Debt Securities May Bear Notation of Changes by Supplemental Indentures
	 	 	46	 
	 
	 	 	 	 
	ARTICLE X

CONSOLIDATION, MERGER, SALE OR CONVEYANCE

	 
	 	 	 	 
	Section 10.01 Consolidations and Mergers of the Issuers
	 	 	46	 
	Section 10.02 Rights and Duties of Successor Company
	 	 	46	 
	 
	 	 	 	 
	ARTICLE XI

SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE; UNCLAIMED MONEYS

	 
	 	 	 	 
	Section 11.01 Applicability of Article
	 	 	47	 
	Section 11.02 Satisfaction and Discharge of Indenture; Defeasance
	 	 	47	 
	Section 11.03 Conditions of Defeasance
	 	 	48	 
	Section 11.04 Application of Trust Money
	 	 	49	 
	Section 11.05 Repayment to Issuers
	 	 	49	 
	Section 11.06 Indemnity for U.S. Government Obligations
	 	 	50	 
	Section 11.07 Reinstatement
	 	 	50	 
	 
	 	 	 	 
	ARTICLE XII

[RESERVED]

	 
	 	 	 	 
	ARTICLE XIII

MISCELLANEOUS PROVISIONS

	 
	 	 	 	 
	Section 13.01 Successors and Assigns of Issuers Bound by Indenture
	 	 	50	 
	Section 13.02 Acts of Board, Committee or Officer of Successor Company Valid
	 	 	50	 
	Section 13.03 Required Notices or Demands
	 	 	50	 
	Section 13.04 Indenture and Debt Securities to Be Construed in Accordance with the Laws
of the State of New York
	 	 	52	 
	Section 13.05 Officers’ Certificate and Opinion of Counsel to Be Furnished upon
Application or Demand by the Issuers
	 	 	52	 
	Section 13.06 Payments Due on Legal Holidays
	 	 	52	 
	Section 13.07 Provisions Required by TIA to Control
	 	 	52	 
	Section 13.08 Computation of Interest on Debt Securities
	 	 	53	 

iv 

 

	 	 	 	 	 
	 	 	Page
	Section 13.09 Rules by Trustee, Paying Agent and Registrar
	 	 	53	 
	Section 13.10 No Recourse Against Others
	 	 	53	 
	Section 13.11 Severability
	 	 	53	 
	Section 13.12 Effect of Headings
	 	 	53	 
	Section 13.13 Indenture May Be Executed in Counterparts
	 	 	53	 
	 
	 	 	 	 
	ARTICLE XIV

GUARANTEE

	 
	 	 	 	 
	Section 14.01 Unconditional Guarantee
	 	 	53	 
	Section 14.02 Execution and Delivery of Guarantee
	 	 	55	 
	Section 14.03 Limitation on Subsidiary Guarantors’ Liability
	 	 	55	 
	Section 14.04 Release of Subsidiary Guarantors from Guarantee
	 	 	56	 
	Section 14.05 Subsidiary Guarantor Contribution
	 	 	56	 
	 
	 	 	 	 
	Annex A Notation of Guarantee
	 	 	 	 

v 

 

     THIS INDENTURE dated as of April 5, 2011 is among Copano Energy, L.L.C., a Delaware limited
liability company (the “Company”), Copano Energy Finance Corporation, a Delaware Corporation
(“Finance Corp.,” and together with the Company, the “Issuers”), any Subsidiary Guarantors (as
defined herein) party hereto, and U.S. Bank National Association, a national banking association,
as trustee (the “Trustee”).

RECITALS OF THE ISSUERS AND ANY SUBSIDIARY GUARANTORS

     The Issuers and any Subsidiary Guarantors have duly authorized the execution and delivery of
this Indenture to provide for the issuance from time to time of the Issuers’ debentures, notes,
bonds or other evidences of indebtedness to be issued in one or more series unlimited as to
principal amount (herein called the “Debt Securities”), which Debt Securities may be guaranteed by
each of the Subsidiary Guarantors, as in this Indenture provided.

     All things necessary to make this Indenture a valid agreement of the Issuers and any
Subsidiary Guarantors, in accordance with its terms, have been done.

     NOW, THEREFORE, THIS INDENTURE WITNESSETH

     That in order to declare the terms and conditions upon which the Debt Securities are
authenticated, issued and delivered, and in consideration of the premises, and of the purchase and
acceptance of the Debt Securities by the Holders thereof, the Issuers, any Subsidiary Guarantor and
the Trustee covenant and agree with each other, for the benefit of the respective Holders from time
to time of the Debt Securities or any series thereof, as follows:

ARTICLE I

DEFINITIONS AND INCORPORATION BY REFERENCE

     Section 1.01 Definitions.

     “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. The Trustee may request and may
conclusively rely upon an Officers’ Certificate to determine whether any Person is an Affiliate of
any specified Person.

     “Agent” means any Registrar or paying agent.

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

     “Board of Directors” means (i) with respect to the Company, the Board of Directors of the
Company or any authorized committee of the Board of Directors of the Company or any directors
and/or officers of the Company to whom such Board of Directors or such committee shall have duly
delegated its authority to act hereunder and (ii) with respect to Finance Corp., the

1

 

Board of Directors of Finance Corp. or any authorized committee of the Board of Directors of
Finance Corp. or any directors and/or officers of Finance Corp. to whom such Board of Directors or
such committee shall have duly delegated its authority to act hereunder. If the Company shall
change its form of entity to other than a limited liability company, the references to the Board of
Directors of the Company shall mean the Board of Directors (or other comparable governing body) of
the Company.

     “Business Day” means any day other than a Legal Holiday.

     “capital stock” of any Person means and includes any and all shares, rights to purchase,
warrants or options (whether or not currently exercisable), participations or other equivalents of
or interests in (however designated) the equity (which includes, but is not limited to, common
stock, preferred stock and partnership and joint venture interests) of such Person (excluding any
debt securities that are convertible into, or exchangeable for, such equity).

     “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.

     “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any
Bankruptcy Law.

     “Debt” of any Person at any date means any obligation created or assumed by such Person for
the repayment of borrowed money and any guarantee thereof.

     “Debt Security” or “Debt Securities” has the meaning stated in the first recital of this
Indenture and more particularly means any debt security or debt securities, as the case may be, of
any series authenticated and delivered under this Indenture.

     “Default” means any event, act or condition that is, or after notice or the passage of time or
both would be, an Event of Default.

     “Depositary” means, unless otherwise specified by the Issuers pursuant to either Section 2.03
or 2.15, with respect to Debt Securities of any series issuable or issued in whole or in part in
the form of one or more Global Securities, The Depository Trust Company, New York, New York, or any
successor thereto registered as a clearing agency under the Exchange Act or other applicable
statute or regulations.

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

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor
statute.

     “Finance Corp.” means the Person named as “Finance Corp.” 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 “Finance Corp.” shall mean such successor Person.

2

 

     “Floating Rate Security” means a Debt Security that provides for the payment of interest at a
variable rate determined periodically by reference to an interest rate index specified pursuant to
Section 2.03.

     “GAAP” means generally accepted accounting principles in the United States, as in effect from
time to time.

     “Global Security” means with respect to any series of Debt Securities issued hereunder, a Debt
Security which is executed by the Issuers and authenticated and delivered by the Trustee to the
Depositary or pursuant to the Depositary’s instruction, all in accordance with this Indenture and
any Indentures supplemental hereto, or resolution of the Board of Directors and set forth in an
Officers’ Certificate, which shall be registered in the name of the Depositary or its nominee and
which shall represent, and shall be denominated in an amount equal to the aggregate principal
amount of, all the Outstanding Debt Securities of such series or any portion thereof, in either
case having the same terms, including, without limitation, the same original issue date, date or
dates on which principal is due and interest rate or method of determining interest.

     “guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Debt or other obligation of any other Person and any obligation, direct
or indirect, contingent or otherwise, of such Person (a) to purchase or pay (or advance or supply
funds for the purchase or payment of) such Debt or other obligation of such other Person (whether
arising by virtue of partnership arrangements, or by agreement to keep-well, to purchase assets,
goods, securities or services, to take-or-pay, or to maintain financial statement conditions or
otherwise) or (b) entered into for purposes of assuring in any other manner the obligee of such
Debt or other obligation of the payment thereof or to protect such obligee against loss in respect
thereof (in whole or in part); provided, however, that the term “guarantee” shall not include
endorsements for collection or deposit in the ordinary course of business. The term “guarantee”
used as a verb has a corresponding meaning.

     “Holder,” “Holder of Debt Securities” or other similar terms means, a Person in whose name a
Debt Security is registered in the Debt Security Register (as defined in Section 2.07(a)).

     “Indenture” means this instrument as originally executed, or, if amended or supplemented as
herein provided, as so amended or supplemented and shall include the form and terms of particular
series of Debt Securities as contemplated hereunder, whether or not a supplemental Indenture is
entered into with respect thereto.

     “Issuer Order” means a written request or order signed on behalf of each of the Issuers by one
of its Officers and delivered to the Trustee.

     “Issuers” means the Company and Finance Corp.

     “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City
of Houston, Texas, City of New York, New York or at a Place of Payment are authorized by law,
regulation or executive order to remain closed. If a payment date is a Legal Holiday at a Place of
Payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday,
and no interest shall accrue for the intervening period.

3

 

     “Lien” means, with respect to any asset, any mortgage, lien, security interest, pledge, charge
or other encumbrance of any kind in respect of such asset, whether or not filed, recorded or
otherwise perfected under applicable law.

     “Officer” means, with respect to a Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial Officer, any Vice
President, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Assistant
Secretary of such Person (or, if such Person is a limited partnership, the general partner of such
Person).

     “Officers’ Certificate” means a certificate that is signed on behalf of each Issuer by any two
of its Officers, one of whom must be the principal executive officer, the principal financial
officer or the principal accounting officer of such Issuer, and that meets the requirements of
Section 13.05 hereof.

     “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the
Trustee. The counsel may be an employee of or counsel to the Company or the Trustee.

     “Original Issue Discount Debt Security” means any Debt 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 6.01.

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

     (a) Debt Securities of that series theretofore canceled by the Trustee or delivered to
the Trustee for cancellation;

     (b) Debt Securities of that series for whose payment or redemption money in the
necessary amount has been theretofore deposited with the Trustee or any paying agent (other
than an Issuer) in trust or set aside and segregated in trust by the Issuers (if an Issuer
shall act as its own paying agent) for the Holders of such Debt Securities; provided, that,
if such Debt 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;
and

     (c) Debt Securities of that series which have been paid pursuant to Section 2.09 or in
exchange for or in lieu of which other Debt Securities have been authenticated and delivered
pursuant to this Indenture, other than any such Debt Securities in respect of which there
shall have been presented to the Trustee proof satisfactory to it that such Debt Securities
are held by a protected purchaser in whose hands such Debt Securities are valid obligations
of the Issuers;

provided, however, that in determining whether the Holders of the requisite principal amount of the
Outstanding Debt Securities of any series have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, Debt Securities owned by either of the Issuers or any other
obligor upon the Debt Securities or any Affiliate of the Company or of such other

4

 

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 or waiver, only Debt Securities which a Trust Officer actually knows to be so owned
shall be so disregarded. Debt 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 Debt Securities and that the pledgee is not an Issuer or any
other obligor upon the Debt Securities or an Affiliate of the Company or of such other obligor. In
determining whether the Holders of the requisite principal amount of Outstanding Debt Securities
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the
principal amount of an Original Issue Discount Debt Security that shall be deemed to be Outstanding
for such purposes shall be the amount of the principal thereof that would be due and payable as of
the date of such determination upon a declaration of acceleration of the maturity thereof pursuant
to Section 6.01.

     “Person” means any individual, corporation, partnership, joint venture, limited liability
company, incorporated or unincorporated association, joint-stock company, trust, unincorporated
organization or government or other agency or political subdivision thereof or other entity of any
kind.

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

     “SEC” means the Securities and Exchange Commission.

     “Securities Act” means the Securities Act of 1933, as amended, and any successor statute.

     “Stated Maturity” means, with respect to any security, the date specified in such security as
the fixed date on which the payment of principal of such security is due and payable, including
pursuant to any mandatory redemption provision (but excluding any provision providing for the
repurchase of such security at the option of the holder thereof upon the happening of any
contingency beyond the control of the issuer unless such contingency has occurred).

     “Subsidiary” of any Person means (1) any corporation, association or other business entity of
which more than 50% of the total voting power of equity interests entitled, without regard to the
occurrence of any contingency, to vote in the election of directors, managers, trustees or
equivalent Persons thereof is at the time of determination owned or controlled, directly or
indirectly, by such Person or one or more of the other Subsidiaries of such Person or combination
thereof; and (2) in the case of a partnership, more than 50% of the partners’ equity interests,
considering all partners’ equity interests as a single class, is at such time of determination
owned or controlled, directly or indirectly, by such Person or one or more of the other
Subsidiaries of such Person or combination thereof.

     “Subsidiary Guarantors” means any Subsidiary of the Company (except Finance Corp.) who may
execute this Indenture, or a supplement hereto, for the purpose of providing a Guarantee of Debt
Securities pursuant to this Indenture until a successor Person shall have

5

 

become such pursuant to the applicable provisions of this Indenture, and thereafter
“Subsidiary Guarantors” shall mean such successor Person.

     “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb), as in
effect on the date of this Indenture as originally executed and, to the extent required by law, as
amended.

     “Trustee” initially means U.S. Bank National Association and any other Person or Persons
appointed as such from time to time pursuant to Section 7.08, and, subject to the provisions of
Article VII, includes its or their successors and assigns. If at any time there is more than one
such Person, “Trustee” as used with respect to the Debt Securities of any series shall mean the
Trustee with respect to the Debt Securities of that series.

     “Trust Officer” means any officer or assistant officer of the Trustee assigned by the Trustee
to administer its corporate trust matters.

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

     “U.S. Government Obligations” means direct obligations of the United States of America,
obligations on which the payment of principal and interest is fully guaranteed by the United States
of America or obligations or guarantees for the payment of which the full faith and credit of the
United States of America is pledged.

     “Yield to Maturity” means the yield to maturity, calculated at the time of issuance of a
series of Debt Securities, or, if applicable, at the most recent redetermination of interest on
such series and calculated in accordance with accepted financial practice.

     Section 1.02 Other Definitions.

	 	 	 	 	 
	Term	 	Defined in Section
	“Debt Security Register”

	 	 	2.07	 
	“Defaulted Interest”

	 	 	2.17	 
	“Event of Default”

	 	 	6.01	 
	“Funding Guarantor”

	 	 	14.05	 
	“Guarantee”

	 	 	14.01	 
	“Place of Payment”

	 	 	2.03	 
	“Registrar”

	 	 	2.07	 
	“Successor Company”

	 	 	10.01	 

     Section 1.03 Incorporation by Reference of Trust Indenture Act. Whenever this
Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made
a part of this Indenture.

     All terms used in this Indenture that are defined by the TIA, defined by TIA reference to
another statute or defined by SEC rule under the TIA have the meanings so assigned to them.

6

 

     Section 1.04 Rules of Construction. Unless the context otherwise requires:

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

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

     (c) “or” is not exclusive;

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

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

     (f) the principal amount of any noninterest bearing or other discount security at any date
shall be the principal amount thereof that would be shown on a balance sheet of the issuer dated
such date prepared in accordance with GAAP.

ARTICLE II

DEBT SECURITIES

     Section 2.01 Forms Generally. The Debt Securities of each series shall be in
substantially the form established without the approval of any Holder by or pursuant to a
resolution of the Board of Directors of each Issuer 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 the Issuers may
deem appropriate (and, if not contained in a supplemental Indenture entered into in accordance with
Article IX, as are not prohibited by the provisions of this Indenture) or as may be required or
appropriate to comply with any law or with any rules made pursuant thereto or with any rules of any
securities exchange on which such series of Debt Securities may be listed, or to conform to general
usage, or as may, consistently herewith, be determined by the officers executing such Debt
Securities as evidenced by their execution of the Debt Securities.

     The definitive Debt Securities of each series 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 Debt Securities, as evidenced by their execution of such Debt Securities.

     Section 2.02 Form of Trustee’s Certificate of Authentication. The Trustee’s
certificate of authentication on all Debt Securities authenticated by the Trustee shall be in
substantially the following form:

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TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

As Trustee

 	 
	 	By:  	 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

     Section 2.03 Principal Amount; Issuable in Series. The aggregate principal amount of
Debt Securities which may be issued, executed, authenticated, delivered and outstanding under this
Indenture is unlimited.

     The Debt Securities may be issued in one or more series in fully registered form. There shall
be established, without the approval of any Holders, in or pursuant to a resolution of the Board of
Directors of each Issuer and set forth in an Officers’ Certificate, or established in one or more
Indentures supplemental hereto, prior to the issuance of Debt Securities of any series any or all
of the following:

     (a) the title of the Debt Securities of the series (which shall distinguish the Debt
Securities of the series from all other Debt Securities);

     (b) any limit upon the aggregate principal amount of the Debt Securities of the series which
may be authenticated and delivered under this Indenture (except for Debt Securities authenticated
and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Debt
Securities of the series pursuant to this Article II);

     (c) the date or dates on which the principal of and premium, if any, on the Debt Securities of
the series are payable;

     (d) the rate or rates (which may be fixed or variable) at which the Debt Securities of the
series shall bear interest, if any, or the method of determining such rate or rates, the date or
dates from which such interest shall accrue, the interest payment dates on which such interest
shall be payable, or the method by which such date will be determined, the record dates for the
determination of Holders thereof to whom such interest is payable; and the basis upon which
interest will be calculated if other than that of a 360-day year of twelve thirty-day months;

     (e) the place or places, if any, in addition to or instead of the corporate trust office of
the Trustee, where the principal of, and premium, if any, and interest on, Debt Securities of the
series shall be payable (“Place of Payment”);

     (f) the price or prices at which, the period or periods within which and the terms and
conditions upon which Debt Securities of the series may be redeemed, in whole or in part, at the
option of the Issuers or otherwise;

8

 

     (g) whether Debt Securities of the series are entitled to the benefits of any Guarantee of any
Subsidiary Guarantors pursuant to this Indenture;

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

     (i) the terms, if any, upon which the Debt Securities of the series may be convertible into or
exchanged for capital stock (which may be represented by depositary shares), other Debt Securities
or warrants for capital stock or Debt or other securities of any kind of either of the Issuers or
any other obligor and the terms and conditions upon which such conversion or exchange shall be
effected, including the initial conversion or exchange price or rate, the conversion or exchange
period and any other provision in addition to or in lieu of those described herein;

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

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

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

     (m) any changes or additions to Article XI, including the addition of additional covenants
that may be subject to the covenant defeasance option pursuant to Section 11.02(b);

     (n) if other than the principal amount thereof, the portion of the principal amount of Debt
Securities of the series which shall be payable upon declaration of acceleration of the maturity
thereof pursuant to Section 6.01 or provable in bankruptcy pursuant to Section 6.02;

     (o) the terms, if any, of the transfer, mortgage, pledge or assignment as security for the
Debt Securities of the series of any properties, assets, moneys, proceeds, securities or other
collateral, including whether certain provisions of the TIA are applicable and any corresponding
changes to provisions of this Indenture as currently in effect;

     (p) any addition to or change in the Events of Default with respect to the Debt Securities of
the series and any change in the right of the Trustee or the Holders to declare the principal of,
and premium and interest on, such Debt Securities due and payable;

9

 

     (q) if the Debt Securities of the series shall be issued in whole or in part in the form of a
Global Security or Securities, the terms and conditions, if any, upon which such Global Security or
Securities may be exchanged in whole or in part for other individual Debt Securities in definitive
registered form; and the Depositary for such Global Security or Securities and the form of any
legend or legends to be borne by any such Global Security or Securities in addition to or in lieu
of the legend referred to in Section 2.15(a);

     (r) any trustees, authenticating or paying agents, transfer agents or registrars;

     (s) the applicability of, and any addition to or change in the covenants and definitions
currently set forth in this Indenture or in the terms currently set forth in Article X, including
conditioning any merger, conveyance, transfer or lease permitted by Article X upon the satisfaction
of any Debt coverage standard by the Issuers and Successor Company (as defined in Article X);

     (t) with regard to Debt Securities of the series that do not bear interest, the dates for
certain required reports to the Trustee; and

     (u) any other terms of the Debt Securities of the series (which terms shall not be prohibited
by the provisions of this Indenture).

     All Debt Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to such resolution of the Board
of Directors and as set forth in such Officers’ Certificate or in any such Indenture supplemental
hereto.

     Section 2.04 Execution of Debt Securities. The Debt Securities shall be signed on
behalf of each of the Issuers by at least one of its Officers. Such signatures upon the Debt
Securities may be the manual or facsimile signatures of the present or any future such authorized
officers and may be imprinted or otherwise reproduced on the Debt Securities. The seal of the
Company, if any, may be in the form of a facsimile thereof and may be impressed, affixed, imprinted
or otherwise reproduced on the Debt Securities.

     Only such Debt Securities as shall bear thereon a certificate of authentication substantially
in the form hereinbefore recited, signed manually by the Trustee, shall be entitled to the benefits
of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee upon
any Debt Security executed on behalf of each of the Issuers by at least one of its Officers shall
be conclusive evidence that the Debt Security so authenticated has been duly authenticated and
delivered hereunder.

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

10

 

     Section 2.05 Authentication and Delivery of Debt Securities. At any time and from
time to time after the execution and delivery of this Indenture, the Issuers may deliver to the
Trustee for authentication Debt Securities of any series executed by the Issuers, and the Trustee
shall thereupon authenticate and deliver said Debt Securities to or upon an Issuer Order. In
authenticating such Debt Securities, and accepting the additional responsibilities under this
Indenture in relation to such Debt Securities, the Trustee shall be entitled to receive, and
(subject to Section 7.01) shall be fully protected in relying upon:

     (a) a copy of any resolution or resolutions of the Board of Directors of each Issuer,
certified by the Secretary or Assistant Secretary of each of the Company and Finance Corp.,
authorizing the terms of issuance of any series of Debt Securities;

     (b) an executed supplemental Indenture, if any;

     (c) an Officers’ Certificate; and

     (d) an Opinion of Counsel prepared in accordance with Section 13.05 which shall also state:

          (i) that the form of such Debt Securities has been established by or pursuant to a resolution
of the Board of Directors of each Issuer or by a supplemental Indenture as permitted by Section
2.01 in conformity with the provisions of this Indenture;

          (ii) that the terms of such Debt Securities have been established by or pursuant to a
resolution of the Board of Directors of each Issuer or by a supplemental Indenture as permitted by
Section 2.03 in conformity with the provisions of this Indenture;

          (iii) that such Debt Securities, when authenticated and delivered by the Trustee and issued by
the Issuers in the manner and subject to any conditions specified in such Opinion of Counsel, will
constitute valid and legally binding obligations of the Issuers, enforceable in accordance with
their terms except as the enforceability thereof may be limited by bankruptcy, insolvency or
similar laws affecting the enforcement of creditors’ rights generally and rights of acceleration
and the availability of equitable remedies may be limited by equitable principles of general
applicability;

          (iv) that the Issuers have the power to issue such Debt Securities and has duly taken all
necessary action with respect to such issuance;

          (v) that the issuance of such Debt Securities will not contravene the organizational documents
of the Issuers or result in any material violation of any of the terms or provisions of any law or
regulation or of any material indenture, mortgage or other agreement known to such counsel by which
the Issuers are bound;

          (vi) that authentication and delivery of such Debt Securities and the execution and delivery
of any supplemental Indenture will not violate the terms of this Indenture; and

          (vii) such other matters as the Trustee may reasonably request.

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     Such Opinion of Counsel need express no opinion as to whether a court in the United States
would render a money judgment in a currency other than that of the United States.

     The Trustee shall have the right to decline to authenticate and deliver any Debt Securities
under this Section 2.05 if the Trustee, being advised by counsel, determines that such action may
not lawfully be taken or if the Trustee in good faith by its board of directors or trustees,
executive committee or a trust committee of directors, trustees or Officers (or any combination
thereof) shall determine that such action would expose the Trustee to personal liability to
existing Holders.

     The Trustee may appoint an authenticating agent reasonably acceptable to the Issuers to
authenticate Debt Securities of any series. Unless limited by the terms of such appointment, an
authenticating agent may authenticate Debt Securities whenever the Trustee may do so. Each
reference in this Indenture to authentication by the Trustee includes authentication by such agent.
An authenticating agent has the same rights as any Registrar, paying agent or agent for service of
notices and demands.

     Unless otherwise provided in the form of Debt Security for any series, each Debt Security
shall be dated the date of its authentication.

     Section 2.06 Denomination of Debt Securities. Unless otherwise provided in the form
of Debt Security for any series, the Debt Securities of each series shall be issuable only as fully
registered Debt Securities in such Dollar denominations as shall be specified or contemplated by
Section 2.03. In the absence of any such specification with respect to the Debt Securities of any
series, the Debt Securities of such series shall be issuable in denominations of $1,000 and any
integral multiple thereof.

     Section 2.07 Registration of Transfer and Exchange.

     (a) The Issuers shall keep or cause to be kept a register for each series of Debt Securities
issued hereunder (hereinafter collectively referred to as the “Debt Security Register”), in which,
subject to such reasonable regulations as it may prescribe, the Issuers shall provide for the
registration of all Debt Securities and the transfer of Debt Securities as in this Article II
provided. At all reasonable times the Debt Security Register shall be open for inspection by the
Trustee. Subject to Section 2.15, upon due presentment for registration of transfer of any Debt
Security at any office or agency to be maintained by the Issuers in accordance with the provisions
of Section 4.02, the Issuers shall execute and the Trustee shall authenticate and deliver in the
name of the transferee or transferees a new Debt Security or Debt Securities of authorized
denominations for a like aggregate principal amount. In no event may Debt Securities be issued as,
or exchanged for, bearer securities.

     Unless and until otherwise determined by the Issuers by resolutions of each Issuer’s Board of
Directors, the Debt Security Register shall be kept at the corporate trust office of the Trustee
indicated in Section 13.03 and, for this purpose, the Trustee shall be designated “Registrar.”

     Debt Securities of any series (other than a Global Security, except as set forth below) may be
exchanged for a like aggregate principal amount of Debt Securities of the same series of

12

 

other authorized denominations. Subject to Section 2.15, Debt Securities to be exchanged
shall be surrendered at the office or agency to be maintained by the Issuers as provided in Section
4.02, and the Issuers shall execute and the Trustee shall authenticate and deliver in exchange
therefor the Debt Security or Debt Securities which the Holder making the exchange shall be
entitled to receive.

     (b) All Debt Securities presented or surrendered for registration of transfer, exchange or
payment shall (if so required by the Issuers, the Trustee or the Registrar) be duly endorsed or be
accompanied by a written instrument or instruments of transfer, in form satisfactory to the
Issuers, the Trustee and the Registrar, duly executed by the Holder or his attorney duly authorized
in writing.

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

     No service charge shall be made for any exchange or registration of transfer of Debt
Securities (except as provided by Section 2.09), but the Issuers may require payment of a sum
sufficient to cover any tax, fee, assessment or other governmental charge that may be imposed in
relation thereto, other than those expressly provided in this Indenture to be made at the Issuers’
own expense or without expense or without charge to the Holders.

     The Issuers shall not be required (i) to issue, register the transfer of or exchange any Debt
Securities for a period of 15 days next preceding any mailing of notice of redemption of Debt
Securities of such series or (ii) to register the transfer of or exchange any Debt Securities
selected, called or being called for redemption, except the unredeemed portion of any Debt Security
to be redeemed in part.

     Prior to the due presentation for registration of transfer of any Debt Security, the Issuers,
the Subsidiary Guarantors, the Trustee, any paying agent or any Registrar may deem and treat the
Person in whose name a Debt Security is registered as the absolute owner of such Debt Security for
the purpose of receiving payment of or on account of the principal of, and premium, if any, and
(subject to Section 2.12) interest on, such Debt Security and for all other purposes whatsoever,
whether or not such Debt Security is overdue, and none of the Issuers, the Subsidiary Guarantors,
the Trustee, any paying agent or any Registrar shall be affected by notice to the contrary.

     None of the Issuers, the Subsidiary Guarantors, the Trustee, any agent of the Trustee, any
paying agent or any Registrar will have any responsibility or liability for any aspect of the
records relating to, or payments made on account of, beneficial ownership interests of a Global
Security or for maintaining, supervising or reviewing any records relating to such beneficial
ownership interests.

     Section 2.08 Temporary Debt Securities. Pending the preparation of definitive Debt
Securities of any series, the Issuers may execute and the Trustee shall authenticate and deliver
temporary Debt Securities (printed, lithographed, photocopied, typewritten or otherwise produced)
of any authorized denomination, and substantially in the form of the definitive Debt

13

 

Securities in lieu of which they are issued, in registered form with such omissions,
insertions and variations as may be appropriate for temporary Debt Securities, all as may be
determined by the Issuers with the concurrence of the Trustee. Temporary Debt Securities may
contain such reference to any provisions of this Indenture as may be appropriate. Every temporary
Debt Security shall be executed by the Issuers and be authenticated by the Trustee upon the same
conditions and in substantially the same manner, and with like effect, as the definitive Debt
Securities.

     If temporary Debt Securities of any series are issued, the Issuers will cause definitive Debt
Securities of such series to be prepared without unreasonable delay. After the preparation of
definitive Debt Securities of such series, the temporary Debt Securities of such series shall be
exchangeable for definitive Debt Securities of such series upon surrender of the temporary Debt
Securities of such series at the office or agency of the Issuers at a Place of Payment for such
series, without charge to the Holder thereof, except as provided in Section 2.07 in connection with
a transfer. Upon surrender for cancellation of any one or more temporary Debt Securities of any
series, the Issuers shall execute and the Trustee shall authenticate and deliver in exchange
therefor a like principal amount of definitive Debt Securities of the same series of authorized
denominations and of like tenor. Until so exchanged, temporary Debt Securities of any series shall
in all respects be entitled to the same benefits under this Indenture as definitive Debt Securities
of such series.

     Upon any exchange of a portion of a temporary Global Security for a definitive Global Security
or for the individual Debt Securities represented thereby pursuant to Section 2.07 or this Section
2.08, the temporary Global Security shall be endorsed by the Trustee to reflect the reduction of
the principal amount evidenced thereby, whereupon the principal amount of such temporary Global
Security shall be reduced for all purposes by the amount to be exchanged and endorsed.

     Section 2.09 Mutilated, Destroyed, Lost or Stolen Debt Securities. If (a) any
mutilated Debt Security is surrendered to the Trustee at its corporate trust office or (b) the
Issuers and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of
any Debt Security, and there is delivered to the Issuers and the Trustee such security or indemnity
as may be required by them to save each of them and any paying agent harmless, and neither the
Issuers nor the Trustee receives notice that such Debt Security has been acquired by a protected
purchaser, then the Issuers shall execute and, upon an Issuer Order, the Trustee shall authenticate
and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Debt
Security, a new Debt Security of the same series of like tenor, form, terms and principal amount,
bearing a number not contemporaneously Outstanding. Upon the issuance of any substituted Debt
Security, the Issuers or the Trustee may require the payment of a sum sufficient to cover any tax,
fee, assessment or other governmental charge that may be imposed in relation thereto and any other
expenses connected therewith. In case any Debt Security which has matured or is about to mature or
which has been called for redemption shall become mutilated or be destroyed, lost or stolen, the
Issuers may, instead of issuing a substituted Debt Security, pay or authorize the payment of the
same (without surrender thereof except in the case of a mutilated Debt Security) if the applicant
for such payment shall furnish the Issuers and the Trustee with such security or indemnity as
either may require to save it harmless from all risk, however remote, and, in case of

14

 

destruction, loss or theft, evidence to the satisfaction of the Issuers and the Trustee of the
destruction, loss or theft of such Debt Security and of the ownership thereof.

     Every substituted Debt Security of any series issued pursuant to the provisions of this
Section 2.09 by virtue of the fact that any Debt Security is destroyed, lost or stolen shall
constitute an original additional contractual obligation of the Issuers, whether or not the
destroyed, lost or stolen Debt Security shall be found at any time, and shall be entitled to all
the benefits of this Indenture equally and proportionately with any and all other Debt Securities
of that series duly issued hereunder. All Debt Securities shall be held and owned upon the express
condition that the foregoing provisions are exclusive with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Debt Securities, and shall preclude any and all other rights
or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with
respect to the replacement or payment of negotiable instruments or other securities without their
surrender.

     Section 2.10 Cancellation of Surrendered Debt Securities. All Debt Securities
surrendered for payment, redemption, registration of transfer or exchange shall, if surrendered to
an Issuer or any paying agent or a Registrar, be delivered to the Trustee for cancellation by it,
or if surrendered to the Trustee, shall be canceled by it, and no Debt Securities shall be issued
in lieu thereof except as expressly permitted by any of the provisions of this Indenture. All
canceled Debt Securities held by the Trustee shall be destroyed (subject to the record retention
requirements of the Exchange Act) and certification of their destruction delivered to the Issuers,
unless otherwise directed. On request of the Issuers, the Trustee shall deliver to the Issuers
canceled Debt Securities held by the Trustee. If either of the Issuers shall acquire any of the
Debt Securities, however, such acquisition shall not operate as a redemption or satisfaction of the
Debt represented thereby unless and until the same are delivered or surrendered to the Trustee for
cancellation. The Issuers may not issue new Debt Securities to replace Debt Securities it has
redeemed, paid or delivered to the Trustee for cancellation.

     Section 2.11 Provisions of the Indenture and Debt Securities for the Sole Benefit of the
Parties and the Holders. Nothing in this Indenture or in the Debt Securities, expressed or
implied, shall give or be construed to give to any Person, other than the parties hereto, the
Holders or any Registrar or paying agent, any legal or equitable right, remedy or claim under or in
respect of this Indenture, or under any covenant, condition or provision herein contained; all its
covenants, conditions and provisions being for the sole benefit of the parties hereto, the Holders
and any Registrar and paying agents.

     Section 2.12 Payment of Interest; Interest Rights Preserved.

     (a) Interest on any Debt Security that is payable and is punctually paid or duly provided for
on any interest payment date shall be paid to the Person in whose name such Debt Security is
registered at the close of business on the regular record date for such interest notwithstanding
the cancellation of such Debt Security upon any transfer or exchange subsequent to the regular
record date. Payment of interest on Debt Securities shall be made at the corporate trust office of
the Trustee specified in Section 13.03 (except as otherwise specified pursuant to Section 2.03), or
at the option of the Issuers, by check mailed to the address of the Person entitled thereto as such
address shall appear in the Debt Security Register or, subject to

15

 

arrangements satisfactory to the Trustee, at the option of the Holder by wire transfer to an
account designated by the Holder.

     (b) Subject to the foregoing provisions of this Section 2.12 and Section 2.17, each Debt
Security of a particular series delivered under this Indenture upon registration of transfer of or
in exchange for or in lieu of any other Debt Security of the same series shall carry the rights to
interest accrued and unpaid, and to accrue, which were carried by such other Debt Security.

     Section 2.13 Securities Denominated in Dollars. Except as otherwise specified
pursuant to Section 2.03 for Debt Securities of any series, payment of the principal of, and
premium, if any, and interest on, Debt Securities of such series will be made in Dollars.

     Section 2.14 Wire Transfers. Notwithstanding any other provision to the contrary in
this Indenture, the Issuers may make any payment of moneys required to be deposited with the
Trustee on account of principal of, or premium, if any, or interest on, the Debt Securities
(whether pursuant to optional or mandatory redemption payments, interest payments or otherwise) by
wire transfer in immediately available funds to an account designated by the Trustee before 11:00
a.m., New York City time, on the date such moneys are to be paid to the Holders of the Debt
Securities in accordance with the terms hereof.

     Section 2.15 Securities Issuable in the Form of a Global Security.

     (a) If the Issuers shall establish pursuant to Sections 2.01 and 2.03 that the Debt Securities
of a particular series are to be issued in whole or in part in the form of one or more Global
Securities, then the Issuers shall execute and the Trustee or its agent shall, in accordance with
Section 2.05, authenticate and deliver, such Global Security or Securities, which shall represent,
and shall be denominated in an amount equal to the aggregate principal amount of, the Outstanding
Debt Securities of such series to be represented by such Global Security or Securities, or such
portion thereof as the Issuers shall specify in an Officers’ Certificate, shall be registered in
the name of the Depositary for such Global Security or Securities or its nominee, shall be
delivered by the Trustee or its agent to the Depositary or pursuant to the Depositary’s instruction
and shall bear a legend substantially to the following effect:

“UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE
ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &
CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN. TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN
WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC

16

 

OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF
THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO HEREIN.”

or such other legend as may then be required by the Depositary for such Global Security or
Securities.

     (b) Notwithstanding any other provision of this Section 2.15 or of Section 2.07 to the
contrary, and subject to the provisions of paragraph (c) below, unless the terms of a Global
Security expressly permit such Global Security to be exchanged in whole or in part for definitive
Debt Securities in registered form, a Global Security may be transferred, in whole but not in part
and in the manner provided in Section 2.07, only by the Depositary to a nominee of the Depositary
for such Global Security, or by a nominee of the Depositary to the Depositary or another nominee of
the Depositary, or by the Depositary or a nominee of the Depositary to a successor Depositary for
such Global Security selected or approved by the Issuers, or to a nominee of such successor
Depositary.

     (c) (i) If at any time the Depositary for a Global Security or Securities notifies the Issuers
that it is unwilling or unable to continue as Depositary for such Global Security or Securities or
if at any time the Depositary for the Debt Securities for such series shall no longer be eligible
or in good standing under the Exchange Act or other applicable statute, rule or regulation, the
Issuers shall appoint a successor Depositary with respect to such Global Security or Securities.
If a successor Depositary for such Global Security or Securities is not appointed by the Issuers
within 90 days after the Issuers receive such notice or become aware of such ineligibility, the
Issuers shall execute, and the Trustee or its agent, upon receipt of an Issuer Order for the
authentication and delivery of such individual Debt Securities of such series in exchange for such
Global Security or Securities, will authenticate and deliver, individual Debt Securities of such
series of like tenor and terms in definitive form in an aggregate principal amount equal to the
principal amount of the Global Security or Securities in exchange for such Global Security or
Securities.

          (ii) If an Event of Default occurs and the Depositary for a Global Security or Securities
notifies the Trustee of its decision to require that the Debt Securities of any series or portion
thereof issued or issuable in the form of one or more Global Securities shall no longer be
represented by such Global Security or Securities, the Issuers shall appoint a successor Depositary
with respect to such Global Security or Securities. In such event the Issuers will execute, and
the Trustee, upon receipt of an Issuer Order for the authentication and delivery of individual Debt
Securities of such series in exchange in whole or in part for such Global Security or Securities,
will authenticate and deliver individual Debt Securities of such series of like tenor and terms in
definitive form in an aggregate principal amount equal to the principal amount of such series or
portion thereof in exchange for such Global Security or Securities.

          (iii) If specified by the Issuers pursuant to Sections 2.01 and 2.03 with respect to Debt
Securities issued or issuable in the form of a Global Security, the Depositary for such Global
Security may surrender such Global Security in exchange in whole or in part for

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individual Debt Securities of such series of like tenor and terms in definitive form on such
terms as are acceptable to the Issuers, the Trustee and such Depositary. Thereupon the Issuers
shall execute, and the Trustee or its agent upon receipt of an Issuer Order for the authentication
and delivery of definitive Debt Securities of such series shall authenticate and deliver, without
service charge, to each Person specified by such Depositary a new Debt Security or Securities of
the same series of like tenor and terms and of any authorized denomination as requested by such
Person in aggregate principal amount equal to and in exchange for such Person’s beneficial interest
in the Global Security; and to such Depositary a new Global Security of like tenor and terms and in
an authorized denomination equal to the difference, if any, between the principal amount of the
surrendered Global Security and the aggregate principal amount of Debt Securities delivered to
Holders thereof.

          (iv) In any exchange provided for in any of the preceding three paragraphs, the Issuers will
execute and the Trustee or its agent will authenticate and deliver individual Debt Securities.
Upon the exchange of the entire principal amount of a Global Security for individual Debt
Securities, such Global Security shall be canceled by the Trustee or its agent. Except as provided
in the preceding paragraph, Debt Securities issued in exchange for a Global Security pursuant to
this Section 2.15 shall be registered in such names and in such authorized denominations as the
Depositary for such Global Security, pursuant to instructions from its direct or indirect
participants or otherwise, shall instruct the Trustee or the Registrar. The Trustee or the
Registrar shall deliver such Debt Securities to the Persons in whose names such Debt Securities are
so registered.

          (v) Payments in respect of the principal of and interest on any Debt Securities registered in
the name of the Depositary or its nominee will be payable to the Depositary or such nominee in its
capacity as the registered owner of such Global Security. The Issuers, any Subsidiary Guarantors
and the Trustee may treat the Person in whose name the Debt Securities, including the Global
Security, are registered as the owner thereof for the purpose of receiving such payments and for
any and all other purposes whatsoever. None of the Issuers, any Subsidiary Guarantors, the
Trustee, any Registrar, the paying agent or any agent of the Issuers, any Subsidiary Guarantors or
the Trustee will have any responsibility or liability for any aspect of the records relating to or
payments made on account of the beneficial ownership interests of the Global Security by the
Depositary or its nominee or any of the Depositary’s direct or indirect participants, or for
maintaining, supervising or reviewing any records of the Depositary, its nominee or any of its
direct or indirect participants relating to the beneficial ownership interests of the Global
Security, the payments to the beneficial owners of the Global Security of amounts paid to the
Depositary or its nominee, or any other matter relating to the actions and practices of the
Depositary, its nominee or any of its direct or indirect participants. None of the Issuers, any
Subsidiary Guarantors, the Trustee or any such agent will be liable for any delay by the
Depositary, its nominee, or any of its direct or indirect participants in identifying the
beneficial owners of the Debt Securities, and the Issuers, any Subsidiary Guarantors and the
Trustee may conclusively rely on, and will be protected in relying on, instructions from the
Depositary or its nominee for all purposes (including with respect to the registration and
delivery, and the respective principal amounts, of the Debt Securities to be issued).

     Section 2.16 Medium Term Securities. Notwithstanding any contrary provision herein,
if all Debt Securities of a series are not to be originally issued at one time, it shall not be

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necessary for each of the Issuers to deliver to the Trustee an Officers’ Certificate,
resolutions of each Issuer’s Board of Directors, supplemental Indenture, Opinion of Counsel or
written order or any other document otherwise required pursuant to Section 2.01, 2.03, 2.05 or
13.05 at or prior to the time of authentication of each Debt Security of such series if such
documents are delivered to the Trustee or its agent at or prior to the authentication upon original
issuance of the first such Debt Security of such series to be issued; provided, that any subsequent
request by the Issuers to the Trustee to authenticate Debt Securities of such series upon original
issuance shall constitute a representation and warranty by the Issuers that, as of the date of such
request, the statements made in the Officers’ Certificate delivered pursuant to Section 2.05 or
13.05 shall be true and correct as if made on such date and that the Opinion of Counsel delivered
at or prior to such time of authentication of an original issuance of Debt Securities shall
specifically state that it shall relate to all subsequent issuances of Debt Securities of such
series that are identical to the Debt Securities issued in the first issuance of Debt Securities of
such series.

     An Issuer Order delivered by the Issuers to the Trustee in the circumstances set forth in the
preceding paragraph, may provide that Debt Securities which are the subject thereof will be
authenticated and delivered by the Trustee or its agent on original issue from time to time upon
the telephonic or written order of Persons designated in such written order (any such telephonic
instructions to be promptly confirmed in writing by such Person) and that such Persons are
authorized to determine, consistent with the Officers’ Certificate, supplemental Indenture or
resolution of the Board of Directors relating to such written order, such terms and conditions of
such Debt Securities as are specified in such Officers’ Certificate, supplemental Indenture or such
resolution.

     Section 2.17 Defaulted Interest. Any interest on any Debt Security of a particular
series which is payable, but is not punctually paid or duly provided for, on the dates and in the
manner provided in the Debt Securities of such series and in this Indenture (herein called
“Defaulted Interest”) shall forthwith cease to be payable to the Holder thereof on the relevant
record date by virtue of having been such Holder, and such Defaulted Interest may be paid by the
Issuers, at their election in each case, as provided in clause (a) or (b) below:

     (a) The Issuers may elect to make payment of any Defaulted Interest to the Persons in whose
names the Debt Securities of such series 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 Issuers shall notify the Trustee in writing of the amount of Defaulted Interest
proposed to be paid on each such Debt Security of such series and the date of the proposed payment,
and at the same time the Issuers 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 promptly notify
the Issuers of such special record date and, in the name and at the expense of the Issuers, shall
cause notice of the proposed payment of such Defaulted Interest and the special record date
therefor to be mailed, first class postage pre-paid, to each Holder thereof at its

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address as it appears in the Debt Security Register, 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 Debt Securities of such series are registered at the close of business on such
special record date.

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

     Section 2.18 CUSIP Numbers. The Issuers in issuing the Debt 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 accuracy of such numbers either as printed on the Debt Securities
or as contained in any notice of a redemption and that reliance may be placed only on the other
identification numbers printed on the Debt Securities, and any such redemption shall not be
affected by any defect in or omission of such numbers. The Issuers will promptly notify the
Trustee in writing of any change in the “CUSIP” numbers.

ARTICLE III

REDEMPTION OF DEBT SECURITIES

     Section 3.01 Applicability of Article. The provisions of this Article shall be
applicable to the Debt Securities of any series which are redeemable before their Stated Maturity
except as otherwise specified as contemplated by Section 2.03 for Debt Securities of such series.

     Section 3.02 Notice of Redemption; Selection of Debt Securities. In case the Issuers
shall desire to exercise the right to redeem all or, as the case may be, any part of the Debt
Securities of any series in accordance with their terms, by resolution of the Board of Directors of
each Issuer or a supplemental Indenture, the Issuers shall fix a date for redemption and shall give
notice of such redemption at least 30 and not more than 60 days prior to the date fixed for
redemption to the Holders of Debt Securities of such series so to be redeemed as a whole or in
part, in the manner provided in Section 13.03. The notice if given in the manner herein provided
shall be conclusively presumed to have been duly given, whether or not the Holder receives such
notice. In any case, failure to give such notice or any defect in the notice to the Holder of any
Debt Security of a series designated for redemption as a whole or in part shall not affect the
validity of the proceedings for the redemption of any other Debt Security of such series.

     Each such notice of redemption shall specify (i) the date fixed for redemption, (ii) the
redemption price at which Debt Securities of such series are to be redeemed (or the method of
calculating such redemption price), (iii) the Place or Places of Payment that payment will be made
upon presentation and surrender of such Debt Securities, (iv) that any interest accrued to the date
fixed for redemption will be paid as specified in said notice, (v) that the redemption is for a
sinking fund payment (if applicable), (vi) that, unless otherwise specified in such notice, if

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the Issuers default in making such redemption payment, the paying agent is prohibited from
making such payment pursuant to the terms of this Indenture, (vii) that on and after said date any
interest thereon or on the portions thereof to be redeemed will cease to accrue, (viii) that in the
case of Original Issue Discount Securities original issue discount accrued after the date fixed for
redemption will cease to accrue, (ix) the terms of the Debt Securities of that series pursuant to
which the Debt Securities of that series are being redeemed and (x) that no representation is made
as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on
the Debt Securities of that series. If less than all the Debt Securities of a series are to be
redeemed the notice of redemption shall specify the certificate numbers of any Debt Securities of
that series to be redeemed that are not in global form. In case any Debt Security of a series is
to be redeemed in part only, the notice of redemption shall state the portion of the principal
amount thereof to be redeemed and shall state that on and after the date fixed for redemption, upon
surrender of such Debt Security, a new Debt Security or Debt Securities of that series in principal
amount equal to the unredeemed portion thereof, will be issued.

     At least five days before the giving of any notice of redemption, unless the Trustee consents
to a shorter period, the Issuers shall give written notice to the Trustee of the Redemption Date,
the principal amount of Debt Securities to be redeemed and the series and terms of the Debt
Securities pursuant to which such redemption will occur. Such notice shall be accompanied by an
Officers’ Certificate and an Opinion of Counsel from the Issuers to the effect that such redemption
will comply with the conditions herein, and such notice may be revoked at any time prior to the
giving of a notice of redemption to the Holders pursuant to this Section 3.02. If fewer than all
the Debt Securities of a series are to be redeemed, the record date relating to such redemption
shall be selected by the Issuers and given in writing to the Trustee, which record date shall be
not less than three days after the date of notice to the Trustee.

     By 11 a.m., New York City time, on the Redemption Date for any Debt Securities, the Issuers
shall deposit with the Trustee or with a paying agent (or, if an Issuer is acting as its own paying
agent, segregate and hold in trust) an amount of money in Dollars (except as provided pursuant to
Section 2.03) sufficient to pay the redemption price of such Debt Securities or any portions
thereof that are to be redeemed on that date, together with any interest accrued to the Redemption
Date.

     If less than all the Debt Securities of like tenor and terms of a series are to be redeemed
(other than pursuant to mandatory sinking fund redemptions), the Trustee shall select, on a pro
rata basis, by lot or by such other method as in its sole discretion it shall deem appropriate and
fair, the Debt Securities of that series or portions thereof (in multiples of $1,000) to be
redeemed. In any case where more than one Debt Security of such series is registered in the same
name, the Trustee in its discretion may treat the aggregate principal amount so registered as if it
were represented by one Debt Security of such series. The Trustee shall promptly notify the
Issuers in writing of the Debt Securities selected for redemption and, in the case of any Debt
Securities selected for partial redemption, the principal amount thereof to be redeemed. If any
Debt Security called for redemption shall not be so paid upon surrender thereof on such Redemption
Date, the principal, premium, if any, and interest shall bear interest until paid from the
Redemption Date at the rate borne by the Debt Securities of that series. If less than all the Debt
Securities of unlike tenor and terms of a series are to be redeemed, the particular Debt Securities

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to be redeemed shall be selected by the Issuers. Provisions of this Indenture that apply to
Debt Securities called for redemption also apply to portions of Debt Securities called for
redemption.

     Section 3.03 Payment of Debt Securities Called for Redemption. If notice of
redemption has been given as provided in Section 3.02, the Debt Securities or portions of Debt
Securities of the series with respect to which such notice has been given shall become due and
payable on the date and at the Place or Places of Payment stated in such notice at the applicable
redemption price, together with any interest accrued to the date fixed for redemption, and on and
after said date (unless the Issuers shall default in the payment of such Debt Securities at the
applicable redemption price, together with any interest accrued to said date) any interest on the
Debt Securities or portions of Debt Securities of any series so called for redemption shall cease
to accrue, and any original issue discount in the case of Original Issue Discount Securities shall
cease to accrue. On presentation and surrender of such Debt Securities at the Place or Places of
Payment in said notice specified, the said Debt Securities or the specified portions thereof shall
be paid and redeemed by the Issuers at the applicable redemption price, together with any interest
accrued thereon to the date fixed for redemption.

     Any Debt Security that is to be redeemed only in part shall be surrendered at the Place of
Payment with, if the Issuers, the Registrar or the Trustee so requires, due endorsement by, or a
written instrument of transfer in form satisfactory to the Issuers, the Registrar and the Trustee
duly executed by, the Holder thereof or his attorney duly authorized in writing, and the Issuers
shall execute, and the Trustee shall authenticate and deliver to the Holder of such Debt Security
without service charge, a new Debt Security or Debt Securities of the same series, of like tenor
and form, of any authorized denomination as requested by such Holder in aggregate principal amount
equal to and in exchange for the unredeemed portion of the principal of the Debt Security so
surrendered; except that if a Global Security is so surrendered, the Issuers shall execute, and the
Trustee shall authenticate and deliver to the Depositary for such Global Security, without service
charge, a new Global Security in a denomination equal to and in exchange for the unredeemed portion
of the principal of the Global Security so surrendered. In the case of a Debt Security providing
appropriate space for such notation, at the option of the Holder thereof, the Trustee, in lieu of
delivering a new Debt Security or Debt Securities as aforesaid, may make a notation on such Debt
Security of the payment of the redeemed portion thereof.

     Section 3.04 Mandatory and Optional Sinking Funds. The minimum amount of any sinking
fund payment provided for by the terms of Debt Securities of any series, resolution of the Board of
Directors or a supplemental Indenture 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 Debt Securities of
any series, resolution of the Board of Directors or a supplemental Indenture is herein referred to
as an “optional sinking fund payment.”

     In lieu of making all or any part of any mandatory sinking fund payment with respect to any
Debt Securities of a series in cash, the Issuers may at their option (a) deliver to the Trustee
Debt Securities of that series theretofore purchased or otherwise acquired by the Issuers or (b)
receive credit for the principal amount of Debt Securities of that series which have been redeemed
either at the election of the Issuers pursuant to the terms of such Debt Securities or through the
application of permitted optional sinking fund payments pursuant to the terms of

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such Debt Securities, resolution or supplemental Indenture; provided, that such Debt
Securities have not been previously so credited. Such Debt Securities shall be received and
credited for such purpose by the Trustee at the redemption price specified in such Debt Securities,
resolution or supplemental Indenture for redemption through operation of the sinking fund and the
amount of such mandatory sinking fund payment shall be reduced accordingly.

     Section 3.05 Redemption of Debt Securities for Sinking Fund. Not less than 60 days
prior to each sinking fund payment date for any series of Debt Securities, the Issuers will deliver
to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund
payment for that series pursuant to the terms of that series, any resolution or supplemental
Indenture, 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 Debt Securities of that
series pursuant to this Section 3.05 (which Debt Securities, if not previously redeemed, will
accompany such certificate) and whether the Issuers intend to exercise its right to make any
permitted optional sinking fund payment with respect to such series. Such certificate shall also
state that no Event of Default has occurred and is continuing with respect to such series. Such
certificate shall be irrevocable and upon its delivery the Issuers shall be obligated to make the
cash payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next
succeeding sinking fund payment date. Failure of the Issuers to deliver such certificate (or to
deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such
failure shall require that the sinking fund payment due on the next succeeding sinking fund payment
date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal
amount of such Debt Securities subject to a mandatory sinking fund payment without the option to
deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make
any optional sinking fund payment, if any, with respect to such series.

     Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused
balance of any preceding sinking fund payments made in cash which shall equal or exceed $100,000
(or a lesser sum if the Issuers shall so request) with respect to the Debt Securities of any
particular series shall be applied by the Trustee on the sinking fund payment date on which such
payment is made (or, if such payment is made before a sinking fund payment date, on the sinking
fund payment date following the date of such payment) to the redemption of such Debt Securities at
the redemption price specified in such Debt Securities, resolution or supplemental Indenture for
operation of the sinking fund together with any accrued interest to the date fixed for redemption.
Any sinking fund moneys not so applied or allocated by the Trustee to the redemption of Debt
Securities shall be added to the next cash sinking fund payment received by the Trustee for such
series and, together with such payment, shall be applied in accordance with the provisions of this
Section 3.05. Any and all sinking fund moneys with respect to the Debt Securities of any
particular series held by the Trustee on the last sinking fund payment date with respect to Debt
Securities of such series and not held for the payment or redemption of particular Debt Securities
shall be applied by the Trustee, together with other moneys, if necessary, to be deposited
sufficient for the purpose, to the payment of the principal of the Debt Securities of that series
at its Stated Maturity.

     The Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment
date in the manner specified in the last paragraph of Section 3.02 and the Issuers shall cause
notice of the redemption thereof to be given in the manner provided in Section 3.02 except

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that the notice of redemption shall also state that the Debt Securities are being redeemed by
operation of the sinking fund. Such notice having been duly given, the redemption of such Debt
Securities shall be made upon the terms and in the manner stated in Section 3.03.

     The Trustee shall not redeem any Debt Securities of a series with sinking fund moneys or mail
any notice of redemption of such Debt Securities by operation of the sinking fund for such series
during the continuance of a Default in payment of interest on such Debt Securities or of any Event
of Default (other than an Event of Default occurring as a consequence of this paragraph) with
respect to such Debt Securities, except that if the notice of redemption of any such Debt
Securities shall theretofore have been mailed in accordance with the provisions hereof, the Trustee
shall redeem such Debt Securities if cash sufficient for that purpose shall be deposited with the
Trustee for that purpose in accordance with the terms of this Article III. Except as aforesaid,
any moneys in the sinking fund for such series at the time when any such Default or Event of
Default shall occur and any moneys thereafter paid into such sinking fund shall, during the
continuance of such Default or Event of Default, be held as security for the payment of such Debt
Securities; provided, however, that in case such Default or Event of Default shall have been cured
or waived as provided herein, such moneys shall thereafter be applied on the next sinking fund
payment date for such Debt Securities on which such moneys may be applied pursuant to the
provisions of this Section 3.05.

ARTICLE IV

PARTICULAR COVENANTS OF THE ISSUERS

     Section 4.01 Payment of Principal of, and Premium, if Any, and Interest on, Debt
Securities. The Issuers, for the benefit of each series of Debt Securities, will duly and
punctually pay or cause to be paid the principal of, and premium, if any, and interest on, each of
the Debt Securities at the place, at the respective times and in the manner provided herein or in
the Debt Securities. Each installment of interest on any Debt Securities not in global form may at
the Issuers’ option be paid by mailing checks for such interest payable to the Person entitled
thereto pursuant to Section 2.07(a) to the address of such Person as it appears on the Debt
Security Register.

     Principal of and premium and interest on Debt Securities of any series shall be considered
paid on the date due if, by 11 a.m., New York City time, on such date the Trustee or any paying
agent holds in accordance with this Indenture money sufficient to pay all principal, premium and
interest then due. The Issuers shall pay interest on overdue principal or premium, if any, at the
rate specified therefor in the Debt Securities, and it shall pay interest on overdue installments
of interest at the same rate to the extent lawful.

     Section 4.02 Maintenance of Offices or Agencies for Registration of Transfer, Exchange and
Payment of Debt Securities. The Issuers will maintain in each Place of Payment for any series
of Debt Securities an office or agency where Debt Securities of such series may be presented or
surrendered for payment, and it shall also maintain (in or outside such Place of Payment) an office
or agency where Debt Securities of such series may be surrendered for transfer or exchange and
where notices and demands to or upon the Issuers in respect of the Debt Securities of such series
and this Indenture may be served. The Issuers will give prompt written notice to the Trustee of
the location, and any change in the location, of such office or agency. If

24

 

at any time the Issuers 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 indicated in Section
13.03, and the Issuers hereby appoint the Trustee as their agent to receive all presentations,
surrenders, notices and demands.

     The Issuers may also from time to time designate different or additional offices or agencies
to be maintained for such purposes (in or outside of such Place of Payment), and may from time to
time rescind any such designation; provided, however, that no such designation or rescission shall
in any manner relieve the Issuers of their obligations described in the preceding paragraph. The
Issuers will give prompt written notice to the Trustee of any such additional designation or
rescission of designation and any change in the location of any such different or additional office
or agency.

     Section 4.03 Appointment to Fill a Vacancy in the Office of Trustee. The Issuers,
whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner
provided in Section 7.08, a Trustee, so that there shall at all times be a Trustee hereunder with
respect to each series of Debt Securities.

     Section 4.04 Duties of Paying Agents, etc.

     (a) The Issuers shall cause each paying agent, if any, other than the Trustee, to execute and
deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to
the provisions of this Section 4.04,

          (i) that it will hold all sums held by it as such agent for the payment of the principal of,
and premium, if any, or interest on, the Debt Securities of any series (whether such sums have been
paid to it by the Issuers or by any other obligor on the Debt Securities of such series) in trust
for the benefit of the Holders of the Debt Securities of such series;

          (ii) that it will give the Trustee notice of any failure by the Issuers (or by any other
obligor on the Debt Securities of such series) to make any payment of the principal of, and
premium, if any, or interest on, the Debt Securities of such series when the same shall be due and
payable; and

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

     (b) If either of the Issuers shall act as its own paying agent, it will, by 11:00 a.m., New
York City time, on each due date of the principal of, and premium, if any, or interest on, the Debt
Securities of any series, set aside, segregate and hold in trust for the benefit of the Holders of
the Debt Securities of such series a sum sufficient to pay such principal, premium, if any, or
interest so becoming due. The Issuers will promptly notify the Trustee of any failure by either of
the Issuers to take such action or the failure by any other obligor on such Debt Securities to make
any payment of the principal of, and premium, if any, or interest on, such Debt Securities when the
same shall be due and payable.

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     (c) Anything in this Section 4.04 to the contrary notwithstanding, either of the Issuers may,
at any time, for the purpose of obtaining a satisfaction and discharge of this Indenture, or for
any other reason, pay or cause to be paid to the Trustee all sums held in trust by it or any paying
agent, as required by this Section 4.04, such sums to be held by the Trustee upon the same trusts
as those upon which such sums were held by such Issuer or such paying agent.

     (d) Whenever the Issuers shall have one or more paying agents with respect to any series of
Debt Securities, they will, prior to each due date of the principal of, and premium, if any, or
interest on, any Debt Securities of such series, deposit with any such paying agent a sum
sufficient to pay the principal, premium or interest so becoming due, such sum to be held in trust
for the benefit of the Persons entitled thereto, and (unless any such paying agent is the Trustee)
the Issuers will promptly notify the Trustee of its action or failure so to act.

     (e) Anything in this Section 4.04 to the contrary notwithstanding, the agreement to hold sums
in trust as provided in this Section 4.04 is subject to the provisions of Section 11.05.

     Section 4.05 SEC Reports; Financial Statements.

     (a) The Company shall, so long as any of the Debt Securities are Outstanding, file with the
Trustee, within 30 days after it files the same with the SEC, copies of the annual reports and the
information, documents and other reports (or copies of such portions of any of the foregoing as the
SEC may by rules and regulations prescribe) that the Company is required to file with the SEC
pursuant to Section 13 or 15(d) of the Exchange Act. If the Company is not subject to the
requirements of such Section 13 or 15(d), the Company shall file with the Trustee, within 30 days
after it would have been required to file the same with the SEC, financial statements, including
any notes thereto (and with respect to annual reports, an auditors’ report by a firm of established
national reputation), and a “Management’s Discussion and Analysis of Financial Condition and
Results of Operations,” both comparable to that which the Company would have been required to
include in such annual reports, information, documents or other reports if the Company had been
subject to the requirements of such Section 13 or 15(d). The Issuers and any Subsidiary Guarantors
shall also comply with the provisions of TIA Section 314(a).

     (b) The Company shall provide the Trustee with a sufficient number of copies of all reports
and other documents and information that the Trustee may be required to deliver to Holders under
this Section.

     (c) The Company shall, so long as any of the Debt Securities are Outstanding, deliver to the
Trustee, within 30 days of any Officer of the Company becoming aware of the occurrence of any Event
of Default, an Officers’ Certificate specifying such Event of Default and what action the Company
is taking or proposes to take with respect thereto.

     Section 4.06 Compliance Certificate.

     (a) Each of the Issuers and any Subsidiary Guarantor shall, so long as any of the Debt
Securities are Outstanding, deliver to the Trustee, within 120 days after the end of each fiscal
year of the Company, an Officers’ Certificate stating that a review of the activities of the
Company and its Subsidiaries during the preceding fiscal year has been made under the

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supervision of the Officers signing the certificate with a view to determining whether each of
the Issuers and any Subsidiary Guarantor has kept, observed, performed and fulfilled its
obligations under this Indenture, and further stating, as to each such Officer signing such
certificate, that to the best of his knowledge each of the Issuers and any Subsidiary Guarantor has
kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is
not in default in the performance or observance of any of the terms, provisions and conditions
hereof, without regard to any grace period or requirement of notice required by this Indenture (or,
if a Default or Event of Default shall have occurred, describing all such Defaults or Events of
Default of which such Officer may have knowledge and what action the Issuers or any Subsidiary
Guarantor is taking or proposes to take with respect thereto).

     (b) The Company shall, so long as any of the Debt Securities are Outstanding, deliver to the
Trustee within 30 days after the occurrence of any Default or Event of Default under this
Indenture, an Officers’ Certificate specifying such Default or Event of Default, the status thereof
and what action the Company is taking or proposes to take with respect thereto.

     Section 4.07 Further Instruments and Acts. Each Issuer will, upon request of the
Trustee, execute and deliver such further instruments and do such further acts as may reasonably be
necessary or proper to carry out more effectually the purposes of this Indenture.

     Section 4.08 Existence. Except as permitted by Article X hereof, each Issuer shall do
or cause to be done all things necessary to preserve and keep in full force and effect its
existence.

     Section 4.09 Maintenance of Properties. The Company shall cause all properties owned
by the Company or any of its Subsidiaries or used or held for use in the conduct of its business or
the business of any such Subsidiary to be maintained and kept in good condition, repair and working
order (reasonable wear and tear excepted) 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 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 such Subsidiary and not disadvantageous in any material respect
to the Holders.

     Section 4.10 Payment of Taxes and Other Claims. The Company shall pay or discharge or
cause to be paid or discharged, before the same shall become delinquent, (a) all taxes, assessments
and governmental charges levied or imposed upon the Company or any of its Subsidiaries or upon the
income, profits or property of the Company or any of its Subsidiaries, and (b) 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 of its Subsidiaries; provided 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 4.11 Waiver of Certain Covenants. The Issuers and the Subsidiary Guarantors
may, with respect to the Debt Securities of any series, omit in any particular instance to comply

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with any covenant set forth in this Article IV (except Sections 4.01 through 4.08) or made
applicable to such Debt Securities pursuant to Section 2.03, if, before or after the time for such
compliance, the Holders of at least a majority in principal amount of the Outstanding Debt
Securities of each series affected, waive such compliance in such instance with such covenant, but
no such waiver shall extend to or affect such covenant except to the extent so expressly waived,
and, until such waiver shall become effective, the obligations of the Issuers and the Subsidiary
Guarantors and the duties of the Trustee in respect of any such covenant shall remain in full force
and effect.

ARTICLE V

HOLDERS’ LISTS AND REPORTS BY THE TRUSTEE

     Section 5.01 Issuers to Furnish Trustee Information as to Names and Addresses of Holders;
Preservation of Information. The Issuers covenant and agree that they will furnish or cause to
be furnished to the Trustee with respect to the Debt Securities of each series:

     (a) not more than 10 days after each record date with respect to the payment of interest, if
any, a list, in such form as the Trustee may reasonably require, of the names and addresses of the
Holders as of such record date, and

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

provided, however, that so long as the Trustee shall be the Registrar, such lists shall not be
required to be furnished.

     The Trustee shall preserve, in as current a form as is reasonably practicable, all information
as to the names and addresses of the Holders (i) contained in the most recent list furnished to it
as provided in this Section 5.01 or (ii) received by it in the capacity of paying agent or
Registrar (if so acting) hereunder.

     The Trustee may destroy any list furnished to it as provided in this Section 5.01 upon receipt
of a new list so furnished.

     Section 5.02 Communications to Holders. Holders may communicate pursuant to Section
312(b) of the TIA with other Holders with respect to their rights under this Indenture or the Debt
Securities. The Issuers, the Trustee, the Registrar and anyone else shall have the protection of
Section 312(c) of the TIA.

     Section 5.03 Reports by Trustee. Within 60 days after each January 31, beginning with
the first January 31 following the date of this Indenture, and in any event on or before April 1 in
each year, the Trustee shall mail to Holders a brief report dated as of such January 31 that
complies with TIA Section 313(a); provided, however, that if no event described in TIA Section
313(a) has occurred within the twelve months preceding the reporting date, no report need be
transmitted. The Trustee also shall comply with TIA Section 313(b).

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     Reports pursuant to this Section 5.03 shall be transmitted by mail:

     (a) to all Holders, as the names and addresses of such Holders appear in the Debt Security
Register; and

     (b) except in the cases of reports under Section 313(b)(2) of the TIA, to each Holder of a
Debt Security of any series whose name and address appear in the information preserved at the time
by the Trustee in accordance with Section 5.01.

     A copy of each report at the time of its mailing to Holders shall be filed with the Securities
and Exchange Commission and each stock exchange (if any) on which the Debt Securities of any series
are listed. The Issuers agree to notify promptly the Trustee whenever the Debt Securities of any
series become listed on any stock exchange and of any delisting thereof.

     Section 5.04 Record Dates for Action by Holders. If the Issuers shall solicit from
the Holders of Debt Securities of any series any action (including the making of any demand or
request, the giving of any direction, notice, consent or waiver or the taking of any other action),
the Issuers may, at their option, by resolution of their respective Boards of Directors, fix in
advance a record date for the determination of Holders of Debt Securities entitled to take such
action, but the Issuers shall have no obligation to do so. Any such record date shall be fixed at
the Issuers’ discretion. If such a record date is fixed, such action may be sought or given before
or after the record date, but only the Holders of Debt Securities of record at the close of
business on such record date shall be deemed to be Holders of Debt Securities for the purpose of
determining whether Holders of the requisite proportion of Debt Securities of such series
Outstanding have authorized or agreed or consented to such action, and for that purpose the Debt
Securities of such series Outstanding shall be computed as of such record date.

ARTICLE VI

REMEDIES OF THE TRUSTEE AND HOLDERS

IN EVENT OF DEFAULT

     Section 6.01 Events of Default. If any one or more of the following shall have
occurred and be continuing with respect to Debt Securities of any series (each of the following, an
“Event of Default”):

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

     (b) default in the payment of the principal of or premium, if any, on any Debt Securities of
that series as and when the same shall become due and payable, whether at Stated Maturity, upon
redemption, by declaration, upon required repurchase or otherwise; or

     (c) default in the payment of any sinking fund payment with respect to any Debt Securities of
that series as and when the same shall become due and payable; or

     (d) failure on the part of the Issuers, or if any series of Debt Securities Outstanding under
this Indenture is entitled to the benefits of the Guarantee, any of the Subsidiary

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Guarantors, duly to observe or perform any other of the covenants or agreements on the part of
the Issuers, or if applicable, any of the Subsidiary Guarantors, in the Debt Securities of that
series, in any resolution of the Board of Directors authorizing the issuance of that series of Debt
Securities, in this Indenture with respect to such series or in any supplemental Indenture with
respect to such series (other than a covenant a default in the performance of which is elsewhere in
this Section specifically dealt with), continuing for a period of 60 days after the date on which
written notice specifying such failure and requiring the Issuers, or if applicable, the Subsidiary
Guarantors, to remedy the same shall have been given to the Issuers, or if applicable, the
Subsidiary Guarantors, by the Trustee or to the Issuers, or if applicable, the Subsidiary
Guarantors, and the Trustee by the Holders of at least 25% in aggregate principal amount of the
Debt Securities of that series at the time Outstanding; or

     (e) either of the Issuers, or if any series of Debt Securities Outstanding under this
Indenture is entitled to the benefits of the Guarantee, any of the Subsidiary Guarantors, pursuant
to or within the meaning of any Bankruptcy Law,

          (i) commences a voluntary case,

          (ii) consents to the entry of an order for relief against it in an involuntary case,

          (iii) consents to the appointment of a Custodian of it or for all or substantially all of its
property; or

          (iv) makes a general assignment for the benefit of its creditors;

     (f) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

          (i) is for relief against either of the Issuers, or if any series of Debt Securities
Outstanding under this Indenture is entitled to the benefits of the Guarantee, any of the
Subsidiary Guarantors, as debtor in an involuntary case,

          (ii) appoints a Custodian of either of the Issuers, or if any series of Debt Securities
Outstanding under this Indenture is entitled to the benefits of the Guarantee, any of the
Subsidiary Guarantors, or a Custodian for all or substantially all of the property of either of the
Issuers, or if applicable, any of the Subsidiary Guarantors, or

          (iii) orders the liquidation of either of the Issuers, or if any series of Debt Securities
Outstanding under this Indenture is entitled to the benefits of the Guarantee, any of the
Subsidiary Guarantors,

and the order or decree remains unstayed and in effect for 60 days;

     (g) if any series of Debt Securities Outstanding under this Indenture is entitled to the
benefits of the Guarantee, the Guarantee of any of the Subsidiary Guarantors ceases to be in full
force and effect with respect to Debt Securities of that series (except as otherwise provided in
this Indenture) or is declared null and void in a judicial proceeding or any of the Subsidiary
Guarantors denies or disaffirms its obligations under this Indenture or such Guarantee; or

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     (h) any other Event of Default provided with respect to Debt Securities of that series;

then and in each and every case that an Event of Default described in clause (a), (b), (c), (d),
(g), or (h) with respect to Debt Securities of that series at the time Outstanding occurs and is
continuing, unless the principal of, premium, if any, and accrued and unpaid interest on all the
Debt Securities of that series shall have already become due and payable, either the Trustee or the
Holders of not less than 25% in aggregate principal amount of the Debt Securities of that series
then Outstanding hereunder, by notice in writing to the Issuers (and to the Trustee if given by
Holders), may declare the principal of (or, if the Debt Securities of that series are Original
Issue Discount Debt Securities, such portion of the principal amount as may be specified in the
terms of that series), premium, if any, and interest on all the Debt Securities of that series to
be due and payable immediately, and upon any such declaration the same shall become and shall be
immediately due and payable, anything in this Indenture or in the Debt Securities of that series
contained to the contrary notwithstanding. If an Event of Default described in clause (e) or (f)
occurs with respect to either of the Issuers, then and in each and every such case, unless the
principal of and accrued and unpaid interest on all the Debt Securities shall have become due and
payable, the principal of (or, if the Debt Securities of that series are Original Issue Discount
Debt Securities, such portion of the principal amount as may be specified in the terms thereof),
premium, if any, and interest on all the Debt Securities then Outstanding hereunder shall ipso
facto become and be immediately due and payable without any declaration or other act on the part of
the Trustee or any Holders, anything in this Indenture or in the Debt Securities contained to the
contrary notwithstanding.

     The Holders of a majority in aggregate principal amount of the Debt Securities of a particular
series by written notice to the Trustee may rescind an acceleration and its consequences if the
rescission would not conflict with any judgment or decree of a court of competent jurisdiction
already rendered and if all existing Events of Default with respect to that series have been cured
or waived except nonpayment of principal, premium, if any, or interest that has become due solely
because of acceleration. Upon any such rescission, the parties hereto shall be restored
respectively to their several positions and rights hereunder, and all rights, remedies and powers
of the parties hereto shall continue as though no such proceeding had been taken.

     Section 6.02 Collection of Debt by Trustee, etc. If an Event of Default occurs and is
continuing, the Trustee, in its own name and as trustee of an express trust, shall be entitled and
empowered to institute any action or proceedings at law or in equity for the collection of the sums
so due and unpaid or enforce the performance of any provision of the Debt Securities of the
affected series or this Indenture, and may prosecute any such action or proceedings to judgment or
final decree, and may enforce any such judgment or final decree against any of the Subsidiary
Guarantors or the Issuers or any other obligor upon the Debt Securities of such series (and collect
in the manner provided by law out of the property of any of the Subsidiary Guarantors or the
Issuers or any other obligor upon the Debt Securities of such series wherever situated the moneys
adjudged or decreed to be payable).

     In case there shall be pending proceedings for the bankruptcy or for the reorganization of any
of the Subsidiary Guarantors or the Issuers or any other obligor upon the Debt Securities of any
series under any Bankruptcy Law, or in case a Custodian shall have been appointed for its

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property, or in case of any other similar judicial proceedings relative to any of the
Subsidiary Guarantors or the Issuers or any other obligor upon the Debt Securities of any series,
its creditors or its property, the Trustee, irrespective of whether the principal of Debt
Securities of any series shall then be due and payable as therein expressed or by declaration or
otherwise and irrespective of whether the Trustee shall have made any demand pursuant to the
provisions of this Section 6.02, shall be entitled and empowered, by intervention in such
proceedings or otherwise, to file and prove a claim or claims for the whole amount of principal,
premium, if any, and interest (or, if the Debt Securities of such series are Original Issue
Discount Debt Securities, such portion of the principal amount as may be specified in the terms of
such series) owing and unpaid in respect of the Debt Securities of such series, and to file such
other papers or documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for reasonable compensation to the Trustee, its agents, attorneys and
counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by
the Trustee except as a result of its negligence or bad faith) and of the Holders thereof allowed
in any such judicial proceedings relative to any of the Subsidiary Guarantors or the Issuers, or
any other obligor upon the Debt Securities of such series, its creditors or its property, and to
collect and receive any moneys or other property payable or deliverable on any such claims, and to
distribute all amounts received with respect to the claims of such Holders and of the Trustee on
their behalf, and any receiver, assignee or trustee in bankruptcy or reorganization is hereby
authorized by each of such Holders to make payments to the Trustee, and, in the event that the
Trustee shall consent to the making of payments directly to such Holders, to pay to the Trustee
such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents,
attorneys and counsel, and all other reasonable expenses and liabilities incurred, and all advances
made, by the Trustee except as a result of its negligence or bad faith.

     All rights of action and of asserting claims under this Indenture, or under any of the Debt
Securities of any series, may be enforced by the Trustee without the possession of any such Debt
Securities, or the production thereof in any trial or other proceedings relative thereto, and any
such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of
an express trust, and any recovery of judgment (except for any amounts payable to the Trustee
pursuant to Section 7.06) shall be for the ratable benefit of the Holders of all the Debt
Securities in respect of which such action was taken.

     In case of an Event of Default hereunder the Trustee may in its discretion proceed to protect
and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as
the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or
in equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or
agreement contained in this Indenture or in aid of the exercise of any power granted in this
Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture
or by law.

     Section 6.03 Application of Moneys Collected by Trustee. Any moneys or other property
collected by the Trustee pursuant to Section 6.02 with respect to Debt Securities of any series
shall be applied, in the order following, at the date or dates fixed by the Trustee for the
distribution of such moneys or other property, upon presentation of the several Debt Securities of
such series in respect of which moneys or other property have been collected, and the notation
thereon of the payment, if only partially paid, and upon surrender thereof if fully paid:

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     FIRST: To the payment of all money due the Trustee pursuant to Section 7.06;

     SECOND: In case the principal of the Outstanding Debt Securities in respect of which such
moneys have been collected shall not have become due, to the payment of interest on the Debt
Securities of such series in the order of the maturity of the installments of such interest, with
interest (to the extent that such interest has been collected by the Trustee) upon the overdue
installments of interest at the rate or Yield to Maturity (in the case of Original Issue Discount
Debt Securities) borne by the Debt Securities of such series, such payments to be made ratably to
the Persons entitled thereto, without discrimination or preference;

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

     FOURTH: The remainder, if any, shall be paid to the Subsidiary Guarantors or the Issuers, as
applicable, or to whomsoever may be lawfully entitled to receive the same, or as a court of
competent jurisdiction may direct.

     The Trustee may fix a record date and payment date for any payment to Holders pursuant to this
Section 6.03. At least 15 days before such record date, the Issuers shall mail to each Holder and
the Trustee a notice that states the record date, the payment date and amount to be paid.

     Section 6.04 Limitation on Suits by Holders. No Holder of any Debt Security of any
series shall have any right by virtue or by availing of any provision of this Indenture to
institute any action or proceeding at law or in equity or in bankruptcy or otherwise, upon or under
or with respect to this Indenture, or for the appointment of a receiver or trustee, or for any
other remedy hereunder, unless such Holder previously shall have given to the Trustee written
notice of an Event of Default with respect to Debt Securities of that same series and of the
continuance thereof and unless the Holders of not less than 25% in aggregate principal amount of
the Outstanding Debt Securities of that series shall have made written request upon the Trustee to
institute such action or proceedings in respect of such Event of Default in its own name as Trustee
hereunder and shall have offered to the Trustee such reasonable indemnity or security as it may
require against the costs, expenses and liabilities to be incurred therein or thereby, and the
Trustee, for 60 days after its receipt of such notice, request and offer of indemnity or security
shall have failed to institute any such action or proceedings and no direction inconsistent with
such written request shall have been given to the Trustee pursuant to Section 6.06; it being

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understood and intended, and being expressly covenanted by the Holder of every Debt Security
with every other Holder and the Trustee, that no one or more Holders shall have any right in any
manner whatever by virtue or by availing of any provision of this Indenture to affect, disturb or
prejudice the rights of any Holders, or to obtain or seek to obtain priority over or preference to
any other such Holder, or to enforce any right under this Indenture, except in the manner herein
provided and for the equal, ratable and common benefit of all such Holders. For the protection and
enforcement of the provisions of this Section 6.04, each and every Holder and the Trustee shall be
entitled to such relief as can be given either at law or in equity.

     Notwithstanding any other provision in this Indenture, however, the right of any Holder of any
Debt Security to receive payment of the principal of, and premium, if any, and (subject to Section
2.12) interest on, such Debt Security, on or after the respective due dates expressed in such Debt
Security, and to institute suit for the enforcement of any such payment on or after such respective
dates, shall not be impaired or affected without the consent of such Holder.

     Section 6.05 Remedies Cumulative; Delay or Omission in Exercise of Rights Not a Waiver of
Default. All powers and remedies given by this Article VI to the Trustee or to the Holders
shall, to the extent permitted by law, be deemed cumulative and not exclusive of any thereof or of
any other powers and remedies available to the Trustee or the Holders, by judicial proceedings or
otherwise, to enforce the performance or observance of the covenants and agreements contained in
this Indenture, and no delay or omission of the Trustee or of any Holder to exercise any right or
power accruing upon any Default occurring and continuing as aforesaid, shall impair any such right
or power, or shall be construed to be a waiver of any such Default or an acquiescence therein; and,
subject to the provisions of Section 6.04, every power and remedy given by this Article VI or by
law to the Trustee or to the Holders may be exercised from time to time, and as often as shall be
deemed expedient, by the Trustee or by the Holders.

     Section 6.06 Rights of Holders of Majority in Principal Amount of Debt Securities to
Direct Trustee and to Waive Default. The Holders of not less than a majority in aggregate
principal amount of the Debt Securities of any series at the time Outstanding shall have the right
to direct the time, method and place of conducting any proceeding for any remedy available to the
Trustee, or of exercising any right, trust or power conferred on the Trustee, with respect to the
Debt Securities of such series; provided, however, that such direction shall not be otherwise than
in accordance with law and the provisions of this Indenture, and that subject to the provisions of
Section 7.01, the Trustee shall have the right to decline to follow any such direction if the
Trustee being advised by counsel shall determine that the action so directed may not lawfully be
taken or is inconsistent with any provision of this Indenture, or if the Trustee shall by a
responsible officer or officers determine that the action so directed would involve it in personal
liability or would be unduly prejudicial to Holders of Debt Securities of such series not taking
part in such direction; and provided, further, however, that nothing in this Indenture contained
shall impair the right of the Trustee to take any action deemed proper by the Trustee and which is
not inconsistent with such direction by such Holders. The Holders of not less than a majority in
aggregate principal amount of the Debt Securities of any series at the time Outstanding may on
behalf of the Holders of all the Debt Securities of that series waive any past Default or Event of
Default and its consequences for that series, except a Default or Event of Default in the payment
of the principal of, and premium, if any, or interest on, any of the Debt Securities and a Default
or Event of Default in respect of a provision that under Section 9.02 cannot be amended without

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the consent of each Holder affected thereby. In case of any such waiver, such Default shall
cease to exist, any Event of Default arising therefrom shall be deemed to have been cured for every
purpose of this Indenture, and the Subsidiary Guarantors, the Issuers, the Trustee and the Holders
of the Debt Securities of that series shall be restored to their former positions and rights
hereunder, respectively; but no such waiver shall extend to any subsequent or other Default or
Event of Default or impair any right consequent thereon.

     Section 6.07 Trustee to Give Notice of Events of Defaults Known to It, but May Withhold
Such Notice in Certain Circumstances. The Trustee shall, within 90 days after the occurrence
of an Event of Default, or if later, within 30 days after the Trustee obtains actual knowledge of
the Event of Default, with respect to a series of Debt Securities give to the Holders thereof, in
the manner provided in Section 13.03, notice of all Events of Default with respect to such series
known to the Trustee, unless such Events of Default shall have been cured or waived before the
giving of such notice; provided, that, except in the case of an Event of Default in the payment of
the principal of, or premium, if any, or interest on, any of the Debt Securities of such series or
in the making of any sinking fund payment with respect to the Debt Securities of such series, the
Trustee shall be protected in withholding such notice if and so long as the board of directors, the
executive committee or a committee of directors or responsible officers of the Trustee in good
faith determines that the withholding of such notice is in the interests of the Holders thereof.

     Section 6.08 Requirement of an Undertaking to Pay Costs in Certain Suits Under the
Indenture or Against the Trustee. All parties to this Indenture agree, and each Holder of any
Debt Security by his acceptance thereof shall be deemed to have agreed, that any court may in its
discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or
in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any
party litigant in such suit of an undertaking to pay the costs of such suit in the manner and to
the extent provided in the TIA, and that such court may in its discretion assess reasonable costs,
including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having
due regard to the merits and good faith of the claims or defenses made by such party litigant; but
the provisions of this Section 6.08 shall not apply to any suit instituted by the Trustee, to any
suit instituted by any Holder, or group of Holders, holding in the aggregate more than 25 percent
in principal amount of the Outstanding Debt Securities of that series or to any suit instituted by
any Holder for the enforcement of the payment of the principal of, or premium, if any, or interest
on, any Debt Security on or after the due date for such payment expressed in such Debt Security.

ARTICLE VII

CONCERNING THE TRUSTEE

     Section 7.01 Certain Duties and Responsibilities. The Trustee, prior to the
occurrence of an Event of Default and after the curing or waiving of all Events of Default which
may have occurred, undertakes to perform such duties and only such duties as are specifically set
forth in this Indenture. In case an Event of Default has occurred (which has not been cured or
waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture,
and use the same degree of care and skill in their exercise, as a prudent man would exercise or use
under the circumstances in the conduct of his own affairs.

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

     (a) this paragraph shall not be construed to limit the effect of the first paragraph of this
Section 7.01;

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

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

          (ii) in the absence of bad faith on the part of the Trustee, the Trustee may conclusively
rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon
any certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture; but in the case of any such certificates or opinions which by any provision hereof are
specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine
the same to determine whether or not they conform to the requirements of this Indenture; but the
Trustee shall examine the evidence furnished to it pursuant to Sections 4.05 and 4.06 to determine
whether or not such evidence conforms to the requirement of this Indenture;

          (iii) the Trustee shall not be liable for an error of judgment made in good faith by a
responsible officer, unless it shall be proved that the Trustee was negligent in ascertaining the
pertinent facts; and

          (iv) the Trustee shall not be liable with respect to any action taken or omitted to be taken
by it with respect to Debt Securities of any series in good faith in accordance with the direction
of the Holders of not less than a majority in aggregate principal amount of the Outstanding Debt
Securities of that series relating to the time, method and place of conducting any proceeding for
any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee,
under this Indenture with respect to Debt Securities of such series.

     None of the provisions of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur any personal financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if there shall be 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.

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     Section 7.02 Certain Rights of Trustee. Except as otherwise provided in Section 7.01:

     (a) 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 or other paper or document (whether in its original or
facsimile form) believed by it to be genuine and to have been signed or presented by the proper
party or parties;

     (b) any request, direction, order or demand of either of the Issuers mentioned herein shall be
sufficiently evidenced by an Issuer Order (unless other evidence in respect thereof be herein
specifically prescribed); and any resolution of the Board of Directors of an Issuer may be
evidenced to the Trustee by a copy thereof certified by its Secretary or an Assistant Secretary;

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

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

     (e) the Trustee shall not be liable for any action taken or omitted by it in good faith and
reasonably believed by it to be authorized or within the discretion or rights or powers conferred
upon it by this Indenture;

     (f) prior to the occurrence of an Event of Default and after the curing of all Events of
Default which may have occurred, 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, approval or other paper or document, unless requested
in writing to do so by the Holders of a majority in aggregate principal amount of the then
Outstanding Debt Securities of a series affected by such matter; provided, however, that if the
payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be
incurred by it in the making of such investigation is not, in the opinion of the Trustee,
reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture,
the Trustee may require reasonable indemnity against such costs, expenses or liabilities as a
condition to so proceeding, and the reasonable expense of every such investigation shall be paid by
the Issuers or, if paid by the Trustee, shall be repaid by the Issuers upon demand;

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

     (h) if any property other than cash shall at any time be subject to a Lien in favor of the
Holders, the Trustee, if and to the extent authorized by a receivership or bankruptcy court of

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competent jurisdiction or by the supplemental instrument subjecting such property to such
Lien, shall be entitled to make advances for the purpose of preserving such property or of
discharging tax Liens or other prior Liens or encumbrances thereon.

     Section 7.03 Trustee Not Liable for Recitals in Indenture or in Debt Securities. The
recitals contained herein, in the Debt Securities (except the Trustee’s certificate of
authentication) shall be taken as the statements of the Issuers, and the Trustee assumes no
responsibility for the correctness of the same. The Trustee makes no representations as to the
validity or sufficiency of this Indenture or of the Debt Securities of any series, except that the
Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate
the Debt Securities and perform its obligations hereunder, and that the statements made by it or to
be made by it in a Statement of Eligibility and Qualification on Form T-1 supplied to the Issuers
are true and accurate. The Trustee shall not be accountable for the use or application by the
Issuers of any of the Debt Securities or of the proceeds thereof.

     Section 7.04 Trustee, Paying Agent or Registrar May Own Debt Securities. The Trustee
or any paying agent or Registrar, in its individual or any other capacity, may become the owner or
pledgee of Debt Securities and subject to the provisions of the TIA relating to conflicts of
interest and preferential claims may otherwise deal with the Issuers with the same rights it would
have if it were not Trustee, paying agent or Registrar.

     Section 7.05 Moneys Received by Trustee to Be Held in Trust. Subject to the
provisions of Section 11.05, all moneys received by the Trustee shall, until used or applied as
herein provided, be held in trust for the purposes for which they were received, but need not be
segregated from other funds except to the extent required by law. The Trustee shall be under no
liability for interest on any moneys received by it hereunder. So long as no Event of Default
shall have occurred and be continuing, all interest allowed on any such moneys shall be paid from
time to time to the Issuers upon an Issuer Order.

     Section 7.06 Compensation and Reimbursement. The Issuers covenant and agree to pay in
Dollars to the Trustee from time to time, and the Trustee shall be entitled to, reasonable
compensation for all services rendered by it hereunder (which shall not be limited by any provision
of law in regard to the compensation of a trustee of an express trust), and, except as otherwise
expressly provided herein, the Issuers will pay or reimburse in Dollars the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in
accordance with any of the provisions of this Indenture (including the reasonable compensation and
the expenses and disbursements of its agents, attorneys and counsel and of all Persons not
regularly in its employ), including without limitation, Section 6.02, except any such expense,
disbursement or advances as may arise from its negligence, willful misconduct or bad faith. The
Issuers also covenant to indemnify in Dollars the Trustee for, and to hold it harmless against, any
loss, liability or expense incurred without negligence, willful misconduct or bad faith on the part
of the Trustee, arising out of or in connection with the acceptance or administration of this trust
or trusts hereunder, including the reasonable costs and expenses of defending itself against any
claim of liability in connection with the exercise or performance of any of its powers or duties
hereunder. The obligations of the Issuers under this Section 7.06 to compensate and indemnify the
Trustee and to pay or reimburse the Trustee for expenses, disbursements and advances shall
constitute additional Debt hereunder and shall survive the

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satisfaction and discharge of this Indenture. The Issuers and the Holders agree that such
additional Debt shall be secured by a Lien prior to that of the Debt Securities upon all property
and funds held or collected by the Trustee, as such, except funds held in trust for the payment of
principal of, and premium, if any, or interest on, particular Debt Securities.

     When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 6.01(e) or (f) occurs, the expenses and the compensation for the services are intended to
constitute expenses of administration under any Bankruptcy Law.

     Section 7.07 Right of Trustee to Rely on an Officers’ Certificate Where No Other Evidence
Specifically Prescribed. Except as otherwise provided in Section 7.01, whenever in the
administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable
that a matter be proved or established prior to taking or suffering or omitting any action
hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed)
may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be
conclusively proved and established by an Officers’ Certificate delivered to the Trustee and such
certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full
warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this
Indenture upon the faith thereof.

     Section 7.08 Separate Trustee; Replacement of Trustee. The Issuers may, but need not,
appoint a separate Trustee for any one or more series of Debt Securities. The Trustee may resign
with respect to one or more or all series of Debt Securities at any time by giving notice to the
Issuers. The Holders of a majority in principal amount of the Debt Securities of a particular
series may remove the Trustee for such series and only such series by so notifying the Trustee and
may appoint a successor Trustee. The Issuers shall remove the Trustee if:

     (a) the Trustee fails to comply with Section 7.10;

     (b) the Trustee is adjudged bankrupt or insolvent;

     (c) a Custodian takes charge of the Trustee or its property; or

     (d) the Trustee otherwise becomes incapable of acting.

     If the Trustee resigns, is removed by the Issuers or by the Holders of a majority in principal
amount of the Debt Securities of a particular series and such Holders do not reasonably promptly
appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the
Trustee in such event being referred to herein as the retiring Trustee), the Issuers shall promptly
appoint a successor Trustee. No resignation or removal of the Trustee and no appointment of a
successor Trustee shall become effective until the acceptance of appointment by the successor
Trustee in accordance with the applicable requirements of this Section 7.08.

     A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Issuers. Thereupon the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders of Debt Securities of each applicable series. The retiring Trustee shall promptly transfer

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all property held by it as Trustee to the successor Trustee, subject to the Lien provided for
in Section 7.06.

     If a successor Trustee does not take office within 60 days after the retiring Trustee gives
notice of resignation or is removed, the retiring Trustee or the Holders of 25% in principal amount
of the Debt Securities of any applicable series may petition any court of competent jurisdiction
for the appointment of a successor Trustee for the Debt Securities of such series.

     If the Trustee fails to comply with Section 7.10, any Holder of Debt Securities of any
applicable series may petition any court of competent jurisdiction for the removal of the Trustee
and the appointment of a successor Trustee for the Debt Securities of such series.

     Notwithstanding the replacement of the Trustee pursuant to this Section 7.08, the Issuers’
obligations under Section 7.06 shall continue for the benefit of the retiring Trustee.

     In the case of the appointment hereunder of a separate or successor Trustee with respect to
the Debt Securities of one or more series, the Issuers, any retiring Trustee and each successor or
separate Trustee with respect to the Debt Securities of any applicable series shall execute and
deliver an Indenture supplemental hereto (i) which shall contain such provisions as shall be deemed
necessary or desirable to confirm that all the rights, powers, trusts and duties of any retiring
Trustee with respect to the Debt Securities of any series as to which any such retiring Trustee is
not retiring shall continue to be vested in such retiring Trustee and (ii) that 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 separate, retiring or successor 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.

     Section 7.09 Successor Trustee by Merger. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all its corporate trust business or assets to,
another corporation or banking association, the resulting, surviving or transferee corporation or
banking association without any further act shall be the successor Trustee.

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

     Section 7.10 Eligibility; Disqualification. The Trustee shall at all times satisfy
the requirements of Section 310(a) of the TIA. The Trustee shall have a combined capital and
surplus of at least $50,000,000 as set forth in its most recent published annual report of

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condition. No obligor upon the Debt Securities of a particular series or Person directly or
indirectly controlling, controlled by or under common control with such obligor shall serve as
Trustee for the Debt Securities of such series. The Trustee shall comply with Section 310(b) of
the TIA; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of
the TIA this Indenture or any indenture or indentures under which other securities or certificates
of interest or participation in other securities of the Issuers are outstanding if the requirements
for such exclusion set forth in Section 310(b)(1) of the TIA are met.

     Section 7.11 Preferential Collection of Claims Against Issuers. The Trustee shall
comply with Section 311(a) of the TIA, excluding any creditor relationship listed in Section 311(b)
of the TIA. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the
TIA to the extent indicated therein.

     Section 7.12 Compliance with Tax Laws. The Trustee hereby agrees to comply with all
U.S. Federal income tax information reporting and withholding requirements applicable to it with
respect to payments of premium (if any) and interest on the Debt Securities, whether acting as
Trustee, Registrar, paying agent or otherwise with respect to the Debt Securities.

ARTICLE VIII

CONCERNING THE HOLDERS

     Section 8.01 Evidence of Action by Holders. Whenever in this Indenture it is provided
that the Holders of a specified percentage in aggregate principal amount of the Debt Securities of
any or all series may take action (including the making of any demand or request, the giving of any
direction, notice, consent or waiver or the taking of any other action) the fact that at the time
of taking any such action the Holders of such specified percentage have joined therein may be
evidenced (a) by any instrument or any number of instruments of similar tenor executed by Holders
in Person or by agent or proxy appointed in writing, (b) by the record of the Holders voting in
favor thereof at any meeting of Holders duly called and held in accordance with the provisions of
Section 5.02, (c) by a combination of such instrument or instruments and any such record of such a
meeting of Holders or (d) in the case of Debt Securities evidenced by a Global Security, by any
electronic transmission or other message, whether or not in written format, that complies with the
Depositary’s applicable procedures.

     Section 8.02 Proof of Execution of Instruments and of Holding of Debt Securities.
Subject to the provisions of Sections 7.01, 7.02 and 13.09, proof of the execution of any
instrument by a Holder or his agent or proxy shall be sufficient if made in accordance with such
reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be
satisfactory to the Trustee. The ownership of Debt Securities of any series shall be proved by the
Debt Security Register or by a certificate of the Registrar for such series. The Trustee may
require such additional proof of any matter referred to in this Section 8.02 as it shall deem
necessary.

     Section 8.03 Who May Be Deemed Owner of Debt Securities. Prior to due presentment for
registration of transfer of any Debt Security, the Issuers, the Subsidiary Guarantors, the Trustee,
any paying agent and any Registrar may deem and treat the Person in whose name any Debt Security
shall be registered upon the books of the Issuers as the absolute

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owner of such Debt Security (whether or not such Debt Security shall be overdue and
notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving
payment of or on account of the principal of and premium, if any, and (subject to Section 2.12)
interest on such Debt Security and for all other purposes, and none of the Issuers, the Subsidiary
Guarantors or the Trustee nor any paying agent nor any Registrar shall be affected by any notice to
the contrary; and all such payments so made to any such Holder for the time being, or upon his
order, shall be valid and, to the extent of the sum or sums so paid, effectual to satisfy and
discharge the liability for moneys payable upon any such Debt Security.

     None of the Issuers, the Subsidiary Guarantors, the Trustee, any paying agent or any Registrar
will have any responsibility or liability for any aspect of the records relating to or payments
made on account of beneficial ownership interests in a Global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests.

     Section 8.04 Instruments Executed by Holders Bind Future Holders. At any time prior
to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any
action by the Holders of the percentage in aggregate principal amount of the Debt Securities of any
series specified in this Indenture in connection with such action and subject to the following
paragraph, any Holder of a Debt Security which is shown by the evidence to be included in the Debt
Securities the Holders of which have consented to such action may, by filing written notice with
the Trustee at its corporate trust office and upon proof of holding as provided in Section 8.02,
revoke such action so far as concerns such Debt Security. Except as aforesaid any such action
taken by the Holder of any Debt Security shall be conclusive and binding upon such Holder and upon
all future Holders and owners of such Debt Security and of any Debt Security issued upon transfer
thereof or in exchange or substitution therefor, irrespective of whether or not any notation in
regard thereto is made upon such Debt Security or such other Debt Securities. Any action taken by
the Holders of the percentage in aggregate principal amount of the Debt Securities of any series
specified in this Indenture in connection with such action shall be conclusively binding upon the
Issuers, the Subsidiary Guarantors, the Trustee and the Holders of all the Debt Securities of such
series.

     The Issuers may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders of Debt Securities entitled to give their consent or take any other action
required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then
notwithstanding the immediately preceding paragraph, those Persons who were Holders of Debt
Securities at such record date (or their duly designated proxies), and only those Persons, shall be
entitled to give such consent or to revoke any consent previously given or to take any such action,
whether or not such Persons continue to be Holders of Debt Securities after such record date. No
such consent shall be valid or effective for more than 120 days after such record date unless the
consent of the Holders of the percentage in aggregate principal amount of the Debt Securities of
such series specified in this Indenture shall have been received within such 120-day period.

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ARTICLE IX

SUPPLEMENTAL INDENTURES

     Section 9.01 Purposes for Which Supplemental Indenture May Be Entered into Without Consent
of Holders. The Issuers, any Subsidiary Guarantors and the Trustee may from time to time and
at any time, without the consent of Holders, enter into an Indenture or Indentures supplemental
hereto (which shall conform to the provisions of the TIA as in force at the date of the execution
thereof) for one or more of the following purposes:

     (a) to evidence the succession pursuant to Article X of another Person to either of the
Issuers, or successive successions, and the assumption by the Successor Company (as defined in
Section 10.01) of the covenants, agreements and obligations of its predecessor Issuer in this
Indenture and in the Debt Securities;

     (b) to surrender any right or power herein conferred upon the Issuers or the Subsidiary
Guarantors, to add to the covenants of the Issuers or the Subsidiary Guarantors such further
covenants, restrictions, conditions or provisions for the protection of the Holders of all or any
series of Debt Securities (and if such covenants are to be for the benefit of less than all series
of Debt Securities, stating that such covenants are expressly being included solely for the benefit
of such series) as the Board of Directors shall consider to be for the protection of the Holders of
such Debt Securities, and to make the occurrence, or the occurrence and continuance, of a Default
in any of such additional covenants, restrictions, conditions or provisions a Default or an Event
of Default permitting the enforcement of all or any of the several remedies provided in this
Indenture; provided, that in respect of any such additional covenant, restriction, condition or
provision such supplemental Indenture may provide for a particular period of grace after Default
(which period may be shorter or longer than that allowed in the case of other Defaults) or may
provide for an immediate enforcement upon such Default or may limit the remedies available to the
Trustee upon such Default or may limit the right of the Holders of a majority in aggregate
principal amount of any or all series of Debt Securities to waive such Default;

     (c) to cure any ambiguity or omission or to correct or supplement any provision contained
herein, in any supplemental Indenture or in any Debt Securities of any series that may be defective
or inconsistent with any other provision contained herein, in any supplemental Indenture or in the
Debt Securities of such series; to convey, transfer, assign, mortgage or pledge any property to or
with the Trustee, or to make such other provisions in regard to matters or questions arising under
this Indenture as shall not adversely affect the interests of any Holders of Debt Securities of any
series;

     (d) to permit or maintain the qualification of this Indenture or any Indenture supplemental
hereto under the TIA as then in effect, except that nothing herein contained shall permit or
authorize the inclusion in any Indenture supplemental hereto of the provisions referred to in
Section 316(a)(2) of the TIA;

     (e) to permit or facilitate the issuance of Debt Securities of any series in uncertificated
form;

     (f) to reflect the release of any Subsidiary Guarantor in accordance with Article XIV;

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     (g) to add Subsidiary Guarantors with respect to any or all of the Debt Securities or to
secure any or all of the Debt Securities or the Guarantee;

     (h) to make any change that does not adversely affect the rights hereunder of any Holder;

     (i) to add to, change or eliminate any of the provisions of this Indenture in respect of one
or more series of Debt Securities; provided, however, that any such addition, change or elimination
not otherwise permitted under this Section 9.01 shall neither apply to any Debt Security of any
series created prior to the execution of such supplemental Indenture and entitled to the benefit of
such provision nor modify the rights of the Holder of any such Debt Security with respect to such
provision or shall become effective only when there is no such Debt Security Outstanding;

     (j) to evidence or provide for the acceptance of appointment hereunder by a successor or
separate Trustee with respect to the Debt 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; and

     (k) to establish the form or terms of Debt Securities of any series as permitted by Sections
2.01 and 2.03.

     The Trustee is hereby authorized to join with the Issuers and the Subsidiary Guarantors in the
execution of any such supplemental Indenture, to make any further appropriate agreements and
stipulations which may be therein contained and to accept the conveyance, transfer, assignment,
mortgage or pledge of any property thereunder, but the Trustee 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.

     Any supplemental Indenture authorized by the provisions of this Section 9.01 may be executed
by the Issuers, the Subsidiary Guarantors and the Trustee without the consent of the Holders of any
of the Debt Securities at the time Outstanding, notwithstanding any of the provisions of Section
9.02.

     Section 9.02 Modification of Indenture with Consent of Holders of Debt Securities.
Without notice to any Holder but with the consent (evidenced as provided in Section 8.01) of the
Holders of not less than a majority in aggregate principal amount of the Outstanding Debt
Securities of each series affected by such supplemental Indenture (including consents obtained in
connection with a tender offer or exchange offer for any such series of Debt Securities), the
Issuers, the Subsidiary Guarantors and the Trustee may from time to time and at any time enter into
an Indenture or Indentures supplemental hereto (which shall conform to the provisions of the TIA as
in force at the date of execution thereof) for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Indenture or of any supplemental
Indenture or of modifying in any manner the rights of the Holders of the Debt Securities of such
series; provided, that no such supplemental Indenture, without the consent of the Holders of each
Debt Security so affected, shall: reduce the percentage in principal amount of Debt Securities of
any series whose Holders must consent to an amendment; reduce the rate of or

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extend the time for payment of interest on any Debt Security; reduce the principal of or
extend the Stated Maturity of any Debt Security; reduce any premium payable upon the redemption of
any Debt Security or change the time at which any Debt Security may or shall be redeemed in
accordance with Article III; make any Debt Security payable in currency other than that stated in
such Debt Security; impair the right of any Holder to receive payment of premium, if any, principal
of and interest on such Holder’s Debt Securities on or after the due dates therefor or to institute
suit for the enforcement of any payment on or with respect to such Holder’s Debt Securities;
release any security that may have been granted in respect of the Debt Securities, other than in
accordance with this Indenture; make any change in Section 6.06 or this Section 9.02 (except to
increase any percentage set forth therein); or, except as provided in Section 11.02(b) or Section
14.04, release the Subsidiary Guarantors other than as provided in this Indenture or modify the
Guarantee in any manner that would adversely affect the rights of the Holders.

     A supplemental Indenture which changes or eliminates any covenant or other provision of this
Indenture which has been expressly included solely for the benefit of one or more particular series
of Debt Securities or which modifies the rights of the Holders of Debt 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 Debt Securities of any other series.

     Upon the request of the Issuers, accompanied by a copy of resolutions of the Board of
Directors of each Issuer authorizing the execution of any such supplemental Indenture, and upon the
filing with the Trustee of evidence of the consent of Holders as aforesaid, the Trustee shall join
with the Issuers and the Subsidiary Guarantors in the execution of such supplemental Indenture
unless such supplemental Indenture affects the Trustee’s own rights, duties or immunities under
this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be
obligated to enter into such supplemental Indenture.

     It shall not be necessary for the consent of the Holders under this Section 9.02 to approve
the particular form of any proposed supplemental Indenture, but it shall be sufficient if such
consent shall approve the substance thereof.

     After an amendment under this Section 9.02 requiring the consent of the Holders of any series
of Debt Securities becomes effective, the Issuers shall mail to Holders of that series of Debt
Securities of each series affected thereby a notice briefly describing such amendment. The failure
to give such notice to any such Holders, or any defect therein, shall not impair or affect the
validity of an amendment under this Section 9.02 with respect to other Holders.

     Section 9.03 Effect of Supplemental Indentures. Upon the execution of any
supplemental Indenture pursuant to the provisions of this Article IX, this Indenture shall be and
be deemed to be modified and amended in accordance therewith and the respective rights, limitations
of rights, obligations, duties and immunities under this Indenture of the Trustee, the Issuers, the
Subsidiary Guarantors and the Holders shall thereafter be determined, exercised and enforced
hereunder subject in all respects to such modifications and amendments, and all the terms and
conditions of any such supplemental Indenture shall be and be deemed to be part of the terms and
conditions of this Indenture for any and all purposes.

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     The Trustee, subject to the provisions of Sections 7.01 and 7.02, may receive an Officers’
Certificate and an Opinion of Counsel as conclusive evidence that any such supplemental Indenture
complies with the provisions of this Article IX.

     Section 9.04 Debt Securities May Bear Notation of Changes by Supplemental Indentures.
Debt Securities of any series authenticated and delivered after the execution of any supplemental
Indenture pursuant to the provisions of this Article IX 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. New Debt Securities of any series so modified as to conform, in the opinion of the
Trustee and the Board of Directors, to any modification of this Indenture contained in any such
supplemental Indenture may be prepared and executed by the Issuers, authenticated by the Trustee
and delivered in exchange for the Debt Securities of such series then Outstanding. Failure to make
the appropriate notation or to issue a new Debt Security of such series shall not affect the
validity of such amendment.

ARTICLE X

CONSOLIDATION, MERGER, SALE OR CONVEYANCE

     Section 10.01 Consolidations and Mergers of the Issuers. Neither of the Issuers may
consolidate or amalgamate with or merge with or into any Person, or sell, lease, transfer, lease or
otherwise dispose of all or substantially all its assets to any Person, whether in a single
transaction or a series of related transactions, unless: (a) either (i) such Issuer shall be the
surviving Person in the case of a merger or (ii) the resulting, surviving or transferee Person if
other than such Issuer (the “Successor Company”), shall be a partnership, limited liability company
or corporation organized and existing under the laws of the United States, any State thereof or the
District of Columbia and the Successor Company shall expressly assume, by an Indenture supplemental
hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, all the
obligations of such Issuer under this Indenture and the Debt Securities according to their tenor;
(b) immediately after giving effect to such transaction or series of transactions (and treating any
Debt which becomes an obligation of the Successor Company or any Subsidiary of such Issuer as a
result of such transaction as having been incurred by the Successor Company or such Subsidiary at
the time of such transaction or series of transactions), no Default or Event of Default would occur
or be continuing; (c) if such Issuer is not the continuing Person, then each Subsidiary Guarantor,
unless it has become the Successor Company, shall confirm that its Guarantee shall continue to
apply to the obligations under the Debt Securities and this Indenture; and (d) the Issuers shall
have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
such consolidation, amalgamation, merger or disposition and such supplemental Indenture (if any)
comply with this Indenture. In addition, for so long as the Company is not organized as a
corporation, Finance Corp. may not consolidate or amalgamate with or merge with or into any Person
unless the Successor Company is a corporation organized and existing under the laws of the United
States, any State thereof or the District of Columbia.

     Section 10.02 Rights and Duties of Successor Company. In case of any consolidation,
amalgamation or merger where such Issuer is not the continuing Person, or disposition of all or
substantially all of the assets of such Issuer in accordance with Section 10.01, the Successor
Company shall succeed to and be substituted for such Issuer with the same effect as if it had been

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named herein as the respective party to this Indenture, and the predecessor entity shall be
released from all liabilities and obligations under this Indenture and the Debt Securities, except
that no such release will occur in the case of a lease of all or substantially all of such Issuer’s
assets. The Successor Company thereupon may cause to be signed, and may issue either in its own
name or in the name of such Issuer, any or all the Debt Securities issuable hereunder which
theretofore shall not have been signed by or on behalf of such Issuer and delivered to the Trustee;
and, upon the order of the Successor Company, instead of such Issuer, and subject to all the terms,
conditions and limitations in this Indenture prescribed, the Trustee shall authenticate and shall
deliver any Debt Securities which previously shall have been signed and delivered by or on behalf
of such Issuer to the Trustee for authentication, and any Debt Securities which the Successor
Company thereafter shall cause to be signed and delivered to the Trustee for that purpose. All the
Debt Securities so issued shall in all respects have the same legal rank and benefit under this
Indenture as the Debt Securities theretofore or thereafter issued in accordance with the terms of
this Indenture as though all such Debt Securities had been issued at the date of the execution
hereof.

     In case of any such consolidation, amalgamation, merger, sale or disposition such changes in
phraseology and form (but not in substance) may be made in the Debt Securities thereafter to be
issued as may be appropriate.

ARTICLE XI

SATISFACTION AND DISCHARGE OF INDENTURE;

DEFEASANCE; UNCLAIMED MONEYS

     Section 11.01 Applicability of Article. The provisions of this Article XI relating to
discharge or defeasance of Debt Securities shall be applicable to each series of Debt Securities
except as otherwise specified pursuant to Section 2.03 for Debt Securities of such series.

     Section 11.02 Satisfaction and Discharge of Indenture; Defeasance.

     (a) If at any time the Issuers shall have delivered to the Trustee for cancellation all Debt
Securities of any series theretofore authenticated and delivered (other than any Debt Securities of
such series which shall have been destroyed, lost or stolen and which shall have been replaced or
paid as provided in Section 2.09 and Debt Securities for whose payment money has theretofore been
deposited in trust and thereafter repaid to the Issuers as provided in Section 11.05) or all Debt
Securities of such series not theretofore delivered to the Trustee for cancellation shall have
become due and payable, or are by their terms to become due and payable within one year or are to
be called for redemption within one year under arrangements satisfactory to the Trustee for the
giving of notice of redemption, and the Issuers shall deposit with the Trustee as trust funds the
entire amount in cash sufficient to pay at final maturity or upon redemption all Debt Securities of
such series not theretofore delivered to the Trustee for cancellation, including principal and
premium, if any, and interest due or to become due on such date of maturity or Redemption Date, as
the case may be, and if in either case the Issuers shall also pay or cause to be paid all other
sums payable hereunder by the Issuers with respect to the Debt Securities of such series, then this
Indenture shall cease to be of further effect (except as to any surviving rights of registration of
transfer or exchange of such Debt Securities herein expressly provided for) with respect to the
Debt Securities of such series, and the Trustee, on

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demand of the Issuers accompanied by an Officers’ Certificate and an Opinion of Counsel and at
the cost and expense of the Issuers, shall execute proper instruments acknowledging satisfaction of
and discharging this Indenture with respect to the Debt Securities of such series.

     (b) Subject to Sections 11.02(c), 11.03 and 11.07, the Issuers at any time may terminate, with
respect to Debt Securities of a particular series, all its obligations under the Debt Securities of
such series and this Indenture with respect to the Debt Securities of such series (“legal
defeasance option”) or the operation of (i) Sections 4.09 and 4.10, (ii) any covenant made
applicable to such Debt Securities pursuant to Section 2.03, (iii) Sections 6.01(d), (g) and (h)
and (iv) as they relate to the Subsidiary Guarantors only, Sections 6.01(e) and (f) (“covenant
defeasance option”). If the Issuers exercise either their legal defeasance option or their
covenant defeasance option with respect to Debt Securities of a particular series that are entitled
to the benefit of the Guarantee, the Guarantee will terminate with respect to that series of Debt
Securities. The Issuers may exercise their legal defeasance option notwithstanding its prior
exercise of its covenant defeasance option.

     If the Issuers exercise their legal defeasance option, payment of the Debt Securities of the
defeased series may not be accelerated because of an Event of Default. If the Issuers exercise
their covenant defeasance option, payment of the Debt Securities of the defeased series may not be
accelerated because of an Event of Default specified in Sections 6.01(d), (g) and (h) and, with
respect to the Subsidiary Guarantors only, Sections 6.01(e) and (f).

     Upon satisfaction of the conditions set forth herein and upon request of the Issuers, the
Trustee shall acknowledge in writing the discharge of those obligations that the Issuers terminate.

     (c) Notwithstanding clauses (a) and (b) above, the Issuers’ obligations in Sections 2.07,
2.09, 4.02, 4.03, 4.04, the last sentence of 4.05(a), 4.06(a), 5.01, 7.06, 11.05, 11.06 and 11.07
shall survive until the Debt Securities of the defeased series have been paid in full. Thereafter,
the Issuers’ obligations in Sections 7.06, 11.05 and 11.06 shall survive.

     Section 11.03 Conditions of Defeasance. The Issuers may exercise their legal
defeasance option or its covenant defeasance option with respect to Debt Securities of a particular
series only if:

     (a) the Issuers irrevocably deposit in trust with the Trustee money or U.S. Government
Obligations for the payment of principal of, and premium, if any, and interest on, the Debt
Securities of such series to final maturity or redemption, as the case may be;

     (b) the Issuers deliver to the Trustee a certificate from a nationally recognized firm of
independent accountants expressing their opinion that the payments of principal and interest when
due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money
without investment will provide cash at such times and in such amounts as will be sufficient to pay
the principal, premium, if any, and interest when due on all the Debt Securities of such series to
final maturity or redemption, as the case may be;

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     (c) 91 days pass after the deposit is made and during the 91-day period no Default specified
in Section 6.01(e) or (f) with respect to the Issuers occurs which is continuing at the end of the
period;

     (d) no Default has occurred and is continuing on the date of such deposit and after giving
effect thereto;

     (e) the deposit does not constitute a default under any other agreement binding on the
Issuers;

     (f) the Issuers deliver to the Trustee an Opinion of Counsel to the effect that the trust
resulting from the deposit does not constitute, or is qualified as, a regulated investment company
under the Investment Company Act of 1940;

     (g) in the event of the legal defeasance option, the Issuers shall have delivered to the
Trustee an Opinion of Counsel stating that the Issuers have received from the Internal Revenue
Service a ruling, or since the date of this Indenture there has been a change in the applicable
Federal income tax law, in either case to the effect that, and based thereon such Opinion of
Counsel shall confirm that, the Holders of Debt Securities of such series will not recognize
income, gain or loss for Federal income tax purposes as a result of such defeasance and will be
subject to Federal income tax on the same amounts, in the same manner and at the same times as
would have been the case if such defeasance had not occurred;

     (h) in the event of the covenant defeasance option, the Issuers shall have delivered to the
Trustee an Opinion of Counsel to the effect that the Holders of Debt Securities of such series will
not recognize income, gain or loss for Federal income tax purposes as a result of such covenant
defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at
the same times as would have been the case if such covenant defeasance had not occurred; and

     (i) the Issuers deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that all conditions precedent to the defeasance and discharge of the Debt Securities
of such series as contemplated by this Article XI have been complied with.

     Before or after a deposit, the Issuers may make arrangements satisfactory to the Trustee for
the redemption of Debt Securities of such series at a future date in accordance with Article III.

     Section 11.04 Application of Trust Money. The Trustee shall hold in trust money or
U.S. Government Obligations deposited with it pursuant to this Article XI. It shall apply the
deposited money and the money from U.S. Government Obligations through any paying agent and in
accordance with this Indenture to the payment of principal of, and premium, if any, and interest
on, the Debt Securities of the defeased series.

     Section 11.05 Repayment to Issuers. The Trustee and any paying agent shall promptly
turn over to the Issuers upon request any excess money or securities held by them at any time.

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     Subject to any applicable abandoned property law, the Trustee and any paying agent shall pay
to the Issuers upon request any money held by them for the payment of principal, premium or
interest that remains unclaimed for two years, and, thereafter, Holders entitled to such money must
look to the Issuers for payment as general creditors.

     Section 11.06 Indemnity for U.S. Government Obligations. The Issuers shall pay and
shall indemnify the Trustee and the Holders against any tax, fee or other charge imposed on or
assessed against deposited U.S. Government Obligations or the principal and interest received on
such U.S. Government Obligations.

     Section 11.07 Reinstatement. If the Trustee or any paying agent is unable to apply
any money or U.S. Government Obligations in accordance with this Article XI by reason of any legal
proceeding or by reason of any order or judgment of any court or government authority enjoining,
restraining or otherwise prohibiting such application, the Issuers’ obligations under this
Indenture and the Debt Securities of the defeased series shall be revived and reinstated as though
no deposit had occurred pursuant to this Article XI until such time as the Trustee or any paying
agent is permitted to apply all such money or U.S. Government Obligations in accordance with this
Article XI.

ARTICLE XII

[RESERVED]

     This Article XII has been intentionally omitted.

ARTICLE XIII

MISCELLANEOUS PROVISIONS

     Section 13.01 Successors and Assigns of Issuers Bound by Indenture. All the
covenants, stipulations, promises and agreements in this Indenture contained by or in behalf of the
Issuers, the Subsidiary Guarantors or the Trustee shall bind their respective successors and
assigns, whether so expressed or not.

     Section 13.02 Acts of Board, Committee or Officer of Successor Company Valid. Any act
or proceeding by any provision of this Indenture authorized or required to be done or performed by
any board, committee or officer of either of the Issuers shall and may be done and performed with
like force and effect by the like board, committee or officer of any Successor Company.

     Section 13.03 Required Notices or Demands. Any notice or communication by the
Issuers, the Subsidiary Guarantors or the Trustee to the others is duly given if in writing in the
English language and delivered in Person or mailed by registered or certified mail (return receipt
requested), telecopier or overnight air courier guaranteeing next day delivery, to the other’s
address:

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     If to the Issuers or any Subsidiary Guarantor:

Copano Energy, L.L.C.

2727 Allen Parkway, Suite 1200

Houston, Texas 77019

Attention: Chief Financial Officer

Telecopy No.: (713) 621-9545

     If to the Trustee:

U.S. Bank National Association

EX-TX-DCRE

14241 Dallas Parkway, Suite 490

Dallas, Texas 75254

Attention: Corporate Trust Department

Telecopy No.: (972) 789-9605

     The Issuers, any Subsidiary Guarantor or the Trustee by notice to the others may designate
additional or different addresses for subsequent notices or communications.

     All notices and communications shall be deemed to have been duly given: at the time delivered
by hand, if personally delivered; five Business Days after being deposited in the mail, postage
prepaid, if mailed; on the first Business Day on or after being sent, if telecopied and the sender
receives confirmation of successful transmission; and the next Business Day after timely delivery
to the courier, if sent by overnight air courier guaranteeing next day delivery.

     Any notice required or permitted to a Holder by the Issuers, any Subsidiary Guarantor or the
Trustee pursuant to the provisions of this Indenture shall be deemed to be properly mailed by being
deposited postage prepaid in a post office letter box in the United States addressed to such Holder
at the address of such Holder as shown on the Debt Security Register. Any report pursuant to
Section 313 of the TIA shall be transmitted in compliance with subsection (c) therein.

     Notwithstanding the foregoing, any notice to Holders of Floating Rate Securities regarding the
determination of a periodic rate of interest, if such notice is required pursuant to Section 2.03,
shall be sufficiently given if given in the manner specified pursuant to Section 2.03.

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

     In the event it shall be impracticable to give notice by publication, then such notification
as shall be given with the approval of the Trustee shall constitute sufficient notice for every
purpose hereunder.

     Failure to mail a notice or communication to a Holder or any defect in it or any defect in any
notice by publication as to a Holder shall not affect the sufficiency of such notice with

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respect to other Holders. If a notice or communication is mailed or published in the manner
provided above, it is conclusively presumed duly given.

     Section 13.04 Indenture and Debt Securities to Be Construed in Accordance with the Laws of
the State of New York. THIS INDENTURE, EACH DEBT SECURITY AND THE GUARANTEE SHALL BE DEEMED TO
BE NEW YORK CONTRACTS, AND FOR ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF SAID STATE.

     Section 13.05 Officers’ Certificate and Opinion of Counsel to Be Furnished upon
Application or Demand by the Issuers. Upon any application or demand by the Issuers to the
Trustee to take any action under any of the provisions of this Indenture, each of the Issuers shall
furnish to the Trustee an Officers’ Certificate stating that all conditions precedent provided for
in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel
stating that, in the opinion of such counsel, all such conditions precedent have been complied
with, except that in the case of any such application or demand as to which the furnishing of such
document is specifically required by any provision of this Indenture relating to such particular
application or demand, no additional certificate or opinion need be furnished.

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

     Section 13.06 Payments Due on Legal Holidays. In any case where the date of maturity
of interest on or principal of and premium, if any, on the Debt Securities of a series or the date
fixed for redemption or repayment of any Debt Security or the making of any sinking fund payment
shall not be a Business Day at any Place of Payment for the Debt Securities of such series, then
payment of interest or principal and premium, if any, or the making of such sinking fund payment
need not be made on such date at such Place of Payment, 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 date of
maturity or the date fixed for redemption, and no interest shall accrue for the period after such
date. If a record date is not a Business Day, the record date shall not be affected.

     Section 13.07 Provisions Required by TIA to Control. If and to the extent that any
provision of this Indenture limits, qualifies or conflicts with another provision included in this
Indenture which is required to be included in this Indenture by any of Sections 310 to 318,
inclusive, of the TIA, such required provision shall control.

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     Section 13.08 Computation of Interest on Debt Securities. Interest, if any, on the
Debt Securities shall be computed on the basis of a 360-day year of twelve 30-day months, except as
may otherwise be provided pursuant to Section 2.03.

     Section 13.09 Rules by Trustee, Paying Agent and Registrar. The Trustee may make
reasonable rules for action by or a meeting of Holders. The Registrar and any paying agent may
make reasonable rules for their functions.

     Section 13.10 No Recourse Against Others. The Issuers and their past, present or
future directors, officers, employees, incorporators, unitholders, stockholders, partners, managers
and members, as such, shall have no liability for any obligations of the Subsidiary Guarantors or
the Issuers under the Debt Securities, this Indenture or the Guarantee or for any claim based on,
in respect of, or by reason of, such obligations or their creation. By accepting a Debt Security,
each Holder shall be deemed to have waived and released all such liability. The waiver and release
shall be part of the consideration for the issue of the Debt Securities.

     Section 13.11 Severability. In case any provision in this Indenture or the Debt
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 13.12 Effect of Headings. The article and section headings herein and in the
Table of Contents are for convenience only and shall not affect the construction hereof.

     Section 13.13 Indenture May Be Executed in Counterparts. This Indenture may be
executed in any number of counterparts, each of which shall be an original; but such counterparts
shall together constitute but one and the same instrument.

ARTICLE XIV

GUARANTEE

     Section 14.01 Unconditional Guarantee.

     (a) Notwithstanding any provision of this Article XIV to the contrary, the provisions of this
Article XIV shall be applicable only to, and inure solely to the benefit of, the Debt Securities of
any series designated, pursuant to Section 2.03, as entitled to the benefits of the Guarantee of
each of the Subsidiary Guarantors.

     (b) For value received, each of the Subsidiary Guarantors hereby fully, unconditionally and
absolutely guarantees (the “Guarantee”) to the Holders and to the Trustee the due and punctual
payment of the principal of, and premium, if any, and interest on the Debt Securities and all other
amounts due and payable under this Indenture and the Debt Securities by the Issuers, when and as
such principal, premium, if any, and interest shall become due and payable, whether at the Stated
Maturity or by declaration of acceleration, call for redemption or otherwise, according to the
terms of the Debt Securities and this Indenture, subject to the limitations set forth in Section
14.03.

     (c) Failing payment when due of any amount guaranteed pursuant to the Guarantee, for whatever
reason, each of the Subsidiary Guarantors will be jointly and severally obligated to

53

 

pay the same immediately. The Guarantee hereunder is intended to be a general, unsecured,
senior obligation of each of the Subsidiary Guarantors and will rank pari passu in right of payment
with all Debt of each Subsidiary Guarantor that is not, by its terms, expressly subordinated in
right of payment to the Guarantee. Each of the Subsidiary Guarantors hereby agrees that its
obligations hereunder shall be full, unconditional and absolute, irrespective of the validity,
regularity or enforceability of the Debt Securities, the Guarantee (including the Guarantee of any
other Subsidiary Guarantor) or this Indenture, the absence of any action to enforce the same, any
waiver or consent by any Holder of the Debt Securities with respect to any provisions hereof or
thereof, the recovery of any judgment against either of the Issuers or any other Subsidiary
Guarantor, or any action to enforce the same or any other circumstances which might otherwise
constitute a legal or equitable discharge or defense of any of the Subsidiary Guarantors. Each of
the Subsidiary Guarantors hereby agrees that in the event of a default in payment of the principal
of, or premium, if any, or interest on the Debt Securities, whether at the Stated Maturity or by
declaration of acceleration, call for redemption or otherwise, legal proceedings may be instituted
by the Trustee on behalf of the Holders or, subject to Section 6.04, by the Holders, on the terms
and conditions set forth in this Indenture, directly against such Subsidiary Guarantor to enforce
the Guarantee without first proceeding against either of the Issuers or any other Subsidiary
Guarantor.

     (d) The obligations of each of the Subsidiary Guarantors under this Article XIV shall be as
aforesaid full, unconditional and absolute and shall not be impaired, modified, released or limited
by any occurrence or condition whatsoever, including, without limitation, (i) any compromise,
settlement, release, waiver, renewal, extension, indulgence or modification of, or any change in,
any of the obligations and liabilities of any of the Issuers or the Subsidiary Guarantors contained
in the Debt Securities or this Indenture, (ii) any impairment, modification, release or limitation
of the liability of any of the Issuers or the Subsidiary Guarantors or any of their estates in
bankruptcy, or any remedy for the enforcement thereof, resulting from the operation of any present
or future provision of any applicable Bankruptcy Law, as amended, or other statute or from the
decision of any court, (iii) the assertion or exercise by any of the Issuers, the Subsidiary
Guarantors or the Trustee of any rights or remedies under the Debt Securities or this Indenture or
their delay in or failure to assert or exercise any such rights or remedies, (iv) the assignment or
the purported assignment of any property as security for the Debt Securities, including all or any
part of the rights of any of the Issuers or the Subsidiary Guarantors under this Indenture, (v) the
extension of the time for payment by any of the Issuers or the Subsidiary Guarantors of any
payments or other sums or any part thereof owing or payable under any of the terms and provisions
of the Debt Securities or this Indenture or of the time for performance by any of the Issuers or
the Subsidiary Guarantors of any other obligations under or arising out of any such terms and
provisions or the extension or the renewal of any thereof, (vi) the modification or amendment
(whether material or otherwise) of any duty, agreement or obligation of any of the Issuers or the
Subsidiary Guarantors set forth in this Indenture, (vii) the voluntary or involuntary liquidation,
dissolution, sale or other disposition of all or substantially all of the assets, marshaling of
assets and liabilities, receivership, insolvency, bankruptcy, assignment for the benefit of
creditors, reorganization, arrangement, composition or readjustment of, or other similar proceeding
affecting, any of the Issuers or the Subsidiary Guarantors or any of their respective assets, or
the disaffirmance of the Debt Securities, the Guarantee or this Indenture in any such proceeding,
(viii) the release or discharge of any of the Issuers or the Subsidiary Guarantors from the
performance or observance of any agreement, covenant, term or condition

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contained in any of such instruments by operation of law, (ix) the unenforceability of the
Debt Securities, the Guarantee or this Indenture or (x) any other circumstances (other than payment
in full or discharge of all amounts guaranteed pursuant to the Guarantee) which might otherwise
constitute a legal or equitable discharge of a surety or guarantor.

     (e) Each of the Subsidiary Guarantors hereby (i) waives diligence, presentment, demand of
payment, filing of claims with a court in the event of the merger, insolvency or bankruptcy of any
of the Issuers or the Subsidiary Guarantors, and all demands whatsoever, (ii) acknowledges that any
agreement, instrument or document evidencing the Guarantee may be transferred and that the benefit
of its obligations hereunder shall extend to each holder of any agreement, instrument or document
evidencing the Guarantee without notice to it and (iii) covenants that the Guarantee will not be
discharged except by complete performance of the Guarantee. Each of the Subsidiary Guarantors
further agrees that if at any time all or any part of any payment theretofore applied by any Person
to the Guarantee is, or must be, rescinded or returned for any reason whatsoever, including without
limitation, the insolvency, bankruptcy or reorganization of any of the Issuers or the Subsidiary
Guarantors, the Guarantee shall, to the extent that such payment is or must be rescinded or
returned, be deemed to have continued in existence notwithstanding such application, and the
Guarantee shall continue to be effective or be reinstated, as the case may be, as though such
application had not been made.

     (f) Each of the Subsidiary Guarantors shall be subrogated to all rights of the Holders and the
Trustee against the Issuers in respect of any amounts paid by such Subsidiary Guarantor pursuant to
the provisions of this Indenture; provided, however, that such Subsidiary Guarantor, shall not be
entitled to enforce or to receive any payments arising out of, or based upon, such right of
subrogation until all of the Debt Securities and the Guarantee shall have been paid in full or
discharged.

     Section 14.02 Execution and Delivery of Guarantee. To further evidence the Guarantee
set forth in Section 14.01, each of the Subsidiary Guarantors hereby agrees that a notation
relating to such Guarantee, substantially in the form attached hereto as Annex A, shall be endorsed
on each Debt Security entitled to the benefits of the Guarantee authenticated and delivered by the
Trustee and executed by either manual or facsimile signature of an Officer of such Subsidiary
Guarantor. Each of the Subsidiary Guarantors hereby agrees that the Guarantee set forth in Section
14.01 shall remain in full force and effect notwithstanding any failure to endorse on each Debt
Security a notation relating to the Guarantee. If any Officer of any Subsidiary Guarantor whose
signature is on this Indenture or a Debt Security no longer holds that office at the time the
Trustee authenticates such Debt Security or at any time thereafter, the Guarantee of such Debt
Security shall be valid nevertheless. The delivery of any Debt Security by the Trustee, after the
authentication thereof hereunder, shall constitute due delivery of the Guarantee set forth in this
Indenture on behalf of the Subsidiary Guarantors.

     The Trustee hereby accepts the trusts in this Indenture upon the terms and conditions herein
set forth.

     Section 14.03 Limitation on Subsidiary Guarantors’ Liability. Each Subsidiary
Guarantor and by its acceptance hereof each Holder of a Debt Security entitled to the benefits of
the Guarantee hereby confirm that it is the intention of all such parties that the guarantee by
such

55

 

Subsidiary Guarantor pursuant to the Guarantee not constitute a fraudulent transfer or
conveyance for purposes of any Federal or state law. To effectuate the foregoing intention, the
Holders of a Debt Security entitled to the benefits of the Guarantee and the Subsidiary Guarantors
hereby irrevocably agree that the obligations of each Subsidiary Guarantor under the Guarantee
shall be limited to the maximum amount as will, after giving effect to all other contingent and
fixed liabilities of such Subsidiary Guarantor and to any collections from or payments made by or
on behalf of any other Subsidiary Guarantor in respect of the obligations of such other Subsidiary
Guarantor under the Guarantee, not result in the obligations of such Subsidiary Guarantor under the
Guarantee constituting a fraudulent conveyance or fraudulent transfer under Federal or state law.

     Section 14.04 Release of Subsidiary Guarantors from Guarantee.

     (a) Notwithstanding any other provisions of this Indenture, the Guarantee of any Subsidiary
Guarantor may be released upon the terms and subject to the conditions set forth in Section
11.02(b) and in this Section 14.04. Provided that no Default shall have occurred and shall be
continuing under this Indenture, the Guarantee incurred by a Subsidiary Guarantor pursuant to this
Article XIV shall be unconditionally released and discharged (i) automatically upon (A) any sale,
exchange or transfer, whether by way of merger or otherwise, to any Person that is not an Affiliate
of the Company, of all of the Company’s direct or indirect limited liability company or other
equity interests in such Subsidiary Guarantor (provided such sale, exchange or transfer is not
prohibited by this Indenture) or (B) the merger of such Subsidiary Guarantor into either of the
Issuers or any other Subsidiary Guarantor or the liquidation and dissolution of such Subsidiary
Guarantor (in each case to the extent not prohibited by this Indenture) or (ii) upon the Issuers’
delivery of a written notice to the Trustee of the release or discharge of all guarantees by such
Subsidiary Guarantor of any Debt of the Issuers other than obligations arising under this Indenture
and any Debt Securities issued hereunder, except a discharge or release by or as a result of
payment under such guarantees.

     (b) The Trustee shall deliver an appropriate instrument evidencing any release of a Subsidiary
Guarantor from the Guarantee upon receipt of a written request of the Issuers accompanied by an
Officers’ Certificate and an Opinion of Counsel to the effect that the Subsidiary Guarantor is
entitled to such release in accordance with the provisions of this Indenture. Any Subsidiary
Guarantor not so released shall remain liable for the full amount of principal of (and premium, if
any) and interest on the Debt Securities entitled to the benefits of the Guarantee as provided in
this Indenture, subject to the limitations of Section 14.03.

     Section 14.05 Subsidiary Guarantor Contribution. In order to provide for just and
equitable contribution among the Subsidiary Guarantors, the Subsidiary Guarantors hereby agree,
inter se, that in the event any payment or distribution is made by any Subsidiary Guarantor (a
“Funding Guarantor”) under the Guarantee, such Funding Guarantor shall be entitled to a
contribution from each other Subsidiary Guarantor (if any) in a pro rata amount based on the net
assets of each Subsidiary Guarantor (including the Funding Guarantor) for all payments, damages and
expenses incurred by that Funding Guarantor in discharging the Issuers’ obligations with respect to
the Debt Securities or any other Subsidiary Guarantor’s obligations with respect to the Guarantee.

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[Remainder of This Page Intentionally Left Blank.]

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

	 	 	 	 	 

	 	 	Copano Energy, L.L.C.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna
	 

	 	 	 	 
	 

	 	Name:
	 	Carl A. Luna
	 

	 	Title:
	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 	 
	 	 	Copano Energy Finance Corporation
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna
	 

	 	 	 	 
	 

	 	Name:
	 	Carl A. Luna
	 

	 	Title:
	 	Senior Vice President and Chief Financial Officer

[Signature Page to Senior Indenture]

 

Guarantors

ACP Texas, L.L.C.

Alamo Creek Properties, L.L.C.

Cantera Gas Company LLC

CMW Energy Services, L.L.C.

Copano Eagle Ford LLC

Copano Energy Services (Texas) GP, L.L.C.

Copano Energy Services GP, L.L.C.

Copano Energy/Mid-Continent, L.L.C.

Copano Energy/Rocky Mountains, L.L.C.

Copano Field Facilities/Rocky Mountains, LLC

Copano Field Services GP, L.L.C.

Copano Field Services/Central Gulf Coast GP,

L.L.C.

Copano Field Services/North Texas, L.L.C.

Copano Field Services/Rocky Mountains, LLC

Copano Liberty, LLC

Copano Natural Gas/Rocky Mountains, LLC

Copano NGL Services (Markham), L.L.C.

Copano NGL Services GP, L.L.C.

Copano Pipelines (Texas) GP, L.L.C.

Copano Pipelines GP, L.L.C.

Copano Pipelines/North Texas, L.L.C.

Copano Pipelines/Rocky Mountains, LLC

Copano Pipelines/Victoria, L.L.C.

Copano Processing GP, L.L.C.

Copano Processing/Louisiana, LLC

Copano/Red River Gathering GP, L.L.C.

Copano/Webb-Duval Pipeline GP, L.L.C.

CPNO Services GP, L.L.C.

Estes Cove Facilities, L.L.C.

Greenwood Gathering, L.L.C.

Nueces Gathering, L.L.C.

River View Pipelines, L.L.C.

ScissorTail Energy, LLC

	 	 	 	 	 
	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 
	 

[Signature Page to Senior Indenture]

 

 

	 	 	 	 	 
	 	 	Copano Processing, L.P.
	 
	 	 	 	 
	 

	 	By
	 	Copano Processing GP, L.L.C.,
	 

	 	 	 	General Partner

	 	 	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 

	 	 	 	 	 
	 	 	Copano NGL Services, L.P.
	 
	 	 	 	 
	 

	 	By
	 	Copano NGL Services GP, L.L.C.,
	 

	 	 	 	General Partner

	 	 	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 

CHC LP Holdings, L.L.C.

Copano Houston Central, L.L.C.

Copano Pipelines Group, L.L.C.

Copano/Red River Gathering LP

Holdings, L.L.C.

CPG LP Holdings, L.L.C.

CPNO Services LP Holdings, L.L.C.

CWDPL LP Holdings, L.L.C.

	 	 	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 

	 	 	 	 	 
	 	Copano General Partners, Inc.	 
	 
	 	By:  	/s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 
	 

[Signature Page to Senior Indenture]

 

 

Copano Field Services/Agua Dulce, L.P.

Copano Field Services/Copano Bay, L.P.

Copano Field Services/Karnes, L.P.

Copano Field Services/Live Oak, L.P.

Copano Field Services/South Texas, L.P.

Copano Field Services/Upper Gulf Coast, L.P.

	 	 	 	 	 
	 

	 	By
	 	Copano Field Services GP, L.L.C.,
	 

	 	 	 	General Partner

	 	 	 	 	 
	 	By:  	                                             /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 

Copano Pipelines/Hebbronville, L.P.

Copano Pipelines/South Texas, L.P.

Copano Pipelines/Upper Gulf Coast, L.P.

	 	 	 	 	 
	 

	 	By
	 	Copano Pipelines GP, L.L.C.,
	 

	 	 	 	General Partner

	 	 	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 

	 	 	 	 	 
	 	 	Copano Pipelines/Texas Gulf Coast, L.P.
	 
	 	 	 	 
	 

	 	By
	 	Copano Pipelines (Texas) GP, L.L.C.,
	 

	 	 	 	General Partner

	 	 	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 
	 

[Signature Page to Senior Indenture]

 

 

	 	 	 	 	 
	 	 	Copano Field Services/Central Gulf Coast, L.P.
	 
	 	 	 	 
	 

	 	By
	 	Copano Field Services/Central Gulf 
	 

	 	 	 	Coast GP, L.L.C.,
	 

	 	 	 	General Partner

	 	 	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 

	 	 	 	 	 
	 	 	Copano Energy Services/Upper Gulf Coast, L.P.
	 
	 	 	 	 
	 

	 	By
	 	Copano Energy Services GP, L.L.C.,
	 

	 	 	 	General Partner

	 	 	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 

	 	 	 	 	 
	 	 	Copano Energy Services/Texas Gulf Coast,
L.P.
	 
	 	 	 	 
	 

	 	By
	 	Copano Energy Services (Texas) GP, 
	 

	 	 	 	L.L.C., General Partner

	 	 	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 

	 	 	 	 	 
	 	 	Copano/Webb-Duval Pipeline, L.P.
	 
	 	 	 	 
	 

	 	By
	 	Copano/Webb Duval Pipeline GP, L.L.C., 
	 

	 	 	 	General Partner

	 	 	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 
	 

[Signature Page to Senior Indenture]

 

 

	 	 	 	 	 
	 	 	CPNO Services, L.P.
	 	 	Copano Risk Management, L.P.
	 
	 	 	 	 
	 

	 	By
	 	CPNO Services GP, L.L.C., 
General Partner

	 	 	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 

	 	 	 	 	 
	 	 	Cimmarron Gathering, LP
	 
	 	 	 	 
	 

	 	By
	 	Copano/Red River Gathering GP, L.L.C.,
	 

	 	 	 	General Partner

	 	 	 	 	 
	 	By:  	                                              /s/ Carl A. Luna
 	 
	 	Name:  	Carl A. Luna 	 
	 	Title:  	Senior Vice President and Chief Financial
Officer 	 
	 

[Signature Page to Senior Indenture]

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, as 

Trustee

 	 
	 	By:  	/s/ Israel Lugo
 	 
	 	Name:  	Israel Lugo 	 
	 	Title:  	Vice President 	 
	 

[Signature Page to Senior Indenture]

 

 

ANNEX A 

NOTATION OF GUARANTEE

     Each of the Subsidiary Guarantors (which term includes any successor Person under the
Indenture), has fully, unconditionally and absolutely guaranteed, to the extent set forth in the
Indenture and subject to the provisions in the Indenture, the due and punctual payment of the
principal of, and premium, if any, and interest on the Debt Securities and all other amounts due
and payable under the Indenture and the Debt Securities by the Issuers.

     The obligations of the Subsidiary Guarantors to the Holders of Debt Securities and to the
Trustee pursuant to the Guarantee and the Indenture are expressly set forth in Article XIV of the
Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee.

	 	 	 	 	 
	 	[NAME(S) OF SUBSIDIARY GUARANTOR(S)]

 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Annex A-1exv4w3

Exhibit 4.3

 

COPANO ENERGY, L.L.C.

COPANO ENERGY FINANCE CORPORATION

AND

THE GUARANTORS NAMED ON THE SIGNATURE PAGES HEREOF

 

7.125% SENIOR NOTES DUE 2021

 

FIRST SUPPLEMENTAL INDENTURE

Dated as of April 5, 2011

 

U.S. BANK NATIONAL ASSOCIATION,

As Trustee

 

 

 

CROSS-REFERENCE TABLE*

	 	 	 	 	 
	Trust Indenture	 	Indenture
	Act Section	 	Section
	310(a)(1)
	 	 	8.10	 
	(a)(2)
	 	 	8.10	 
	(a)(3)
	 	 	N/A	 
	(a)(4)
	 	 	N/A	 
	(a)(5)
	 	 	8.10	 
	(b)
	 	 	8.10	 
	(c)
	 	 	N/A	 
	311(a)
	 	 	8.11	 
	(b)
	 	 	8.11	 
	(c)
	 	 	N/A	 
	312(a)
	 	 	3.05	 
	(b)
	 	 	11.03	 
	(c)
	 	 	11.03	 
	313(a)
	 	 	8.06	 
	(b)(1)
	 	 	8.06	 
	(b)(2)
	 	 	8.06, 8.07	 
	(c)
	 	 	8.06, 12.02	 
	(d)
	 	 	8.06	 
	314(a)
	 	 	5.03, 5.04, 12.02	 
	(b)
	 	 	N/A	 
	(c)(1)
	 	 	12.04	 
	(c)(2)
	 	 	12.04	 
	(c)(3)
	 	 	N/A	 
	(d)
	 	 	N/A	 
	(e)
	 	 	12.05	 
	(f)
	 	 	N/A	 
	315(a)
	 	 	8.01	 
	(b)
	 	 	8.05, 12.02	 
	(c)
	 	 	8.01	 
	(d)
	 	 	8.01	 
	(e)
	 	 	7.11	 
	316(a)(last sentence)
	 	 	3.08	 
	(a)(1)(A)
	 	 	7.05	 
	(a)(1)(B)
	 	 	7.04	 
	(a)(2)
	 	 	N/A	 
	(b)
	 	 	7.07	 
	(c)
	 	 	8.04	 
	317(a)(1)
	 	 	8.08	 
	(a)(2)
	 	 	8.09	 
	(b)
	 	 	3.04	 
	318(a)
	 	 	12.01	 
	(b)
	 	 	N/A	 
	(c)
	 	 	12.01	 

 

			
	N/A	 	means not applicable.
	 
	*	 	This Cross-Reference Table is not part of the Indenture.

i

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE 1 APPLICATION OF SUPPLEMENTAL INDENTURE
	 	 	2	 
	Section 1.01. Application of this Supplemental Indenture
	 	 	2	 
	Section 1.02. Effect of Supplemental Indenture
	 	 	2	 
	 
	 	 	 	 
	ARTICLE 2 DEFINITIONS AND INCORPORATION BY REFERENCE
	 	 	3	 
	Section 2.01. Definitions
	 	 	3	 
	Section 2.02. Other Definitions
	 	 	27	 
	Section 2.03. Incorporation by Reference of Trust Indenture Act
	 	 	27	 
	Section 2.04. Rules of Construction
	 	 	27	 
	 
	 	 	 	 
	ARTICLE 3 THE NOTES
	 	 	28	 
	Section 3.01. Form and Dating
	 	 	28	 
	Section 3.02. Form of Legend for Global Notes
	 	 	28	 
	Section 3.03. Title and Terms
	 	 	29	 
	Section 3.04. Denominations
	 	 	29	 
	Section 3.05. Execution and Authentication
	 	 	30	 
	Section 3.06. Registrar and Paying Agent
	 	 	30	 
	Section 3.07. Paying Agent to Hold Money in Trust
	 	 	32	 
	Section 3.08. Noteholder Lists
	 	 	32	 
	Section 3.09. Replacement Notes
	 	 	32	 
	Section 3.10. Outstanding Notes
	 	 	33	 
	Section 3.11. Treasury Notes
	 	 	33	 
	Section 3.12. Payment of Interest; Interest Rights Preserved
	 	 	33	 
	Section 3.13. Persons Deemed Owners
	 	 	34	 
	Section 3.14. Temporary Notes
	 	 	34	 
	Section 3.15. Cancellation
	 	 	35	 
	Section 3.16. Computation of Interest
	 	 	35	 
	Section 3.17. Global Securities
	 	 	35	 
	Section 3.18. CUSIP Numbers
	 	 	35	 
	 
	 	 	 	 
	ARTICLE 4 REDEMPTION AND PREPAYMENT
	 	 	35	 
	Section 4.01. Notices to Trustee
	 	 	35	 
	Section 4.02. Selection of Notes to Be Redeemed
	 	 	36	 
	Section 4.03. Notice of Redemption
	 	 	36	 
	Section 4.04. Effect of Notice of Redemption
	 	 	37	 
	Section 4.05. Deposit of Redemption Price
	 	 	37	 
	Section 4.06. Notes Redeemed in Part
	 	 	38	 
	Section 4.07. Optional Redemption
	 	 	38	 
	Section 4.08. Mandatory Redemption
	 	 	39	 
	Section 4.09. Offer to Purchase by Application of Excess Proceeds
	 	 	39	 
	 
	 	 	 	 
	ARTICLE 5 COVENANTS
	 	 	41	 
	Section 5.01. Payment of Notes
	 	 	41	 
	Section 5.02. Maintenance of Office or Agency
	 	 	41	 

ii

 

	 	 	 	 	 
	 	 	Page
	Section 5.03. Reports
	 	 	42	 
	Section 5.04. Compliance Certificate
	 	 	42	 
	Section 5.05. Taxes
	 	 	43	 
	Section 5.06. Stay, Extension and Usury Laws
	 	 	43	 
	Section 5.07. Limitation on Restricted Payments
	 	 	43	 
	Section 5.08. Limitation on Dividend and Other Payment Restrictions Affecting
Subsidiaries
	 	 	46	 
	Section 5.09. Limitation on Incurrence of Indebtedness and Issuance of
Preferred Stock
	 	 	48	 
	Section 5.10. Limitation on Asset Sales
	 	 	52	 
	Section 5.11. Limitation on Transactions with Affiliates
	 	 	53	 
	Section 5.12. Limitation on Liens
	 	 	55	 
	Section 5.13. Additional Subsidiary Guarantees
	 	 	55	 
	Section 5.14. Corporate Existence
	 	 	56	 
	Section 5.15. Offer to Repurchase Upon Change of Control
	 	 	56	 
	Section 5.16. No Inducements
	 	 	58	 
	Section 5.17. Permitted Business Activities
	 	 	59	 
	Section 5.18. Sale and Leaseback Transactions
	 	 	59	 
	Section 5.19. Covenant Termination
	 	 	59	 
	Section 5.20. Designation of Restricted and Unrestricted Subsidiaries
	 	 	60	 
	 
	 	 	 	 
	ARTICLE 6 SUCCESSORS
	 	 	60	 
	Section 6.01. Merger, Consolidation, or Sale of Assets
	 	 	60	 
	Section 6.02. Successor Substituted
	 	 	62	 
	 
	 	 	 	 
	ARTICLE 7 DEFAULTS AND REMEDIES
	 	 	62	 
	Section 7.01. Events of Default
	 	 	62	 
	Section 7.02. Acceleration
	 	 	64	 
	Section 7.03. Other Remedies
	 	 	65	 
	Section 7.04. Waiver of Past Defaults
	 	 	65	 
	Section 7.05. Control by Majority
	 	 	65	 
	Section 7.06. Limitation on Suits
	 	 	65	 
	Section 7.07. Rights of Holders of Notes to Receive Payment
	 	 	66	 
	Section 7.08. Collection Suit by Trustee
	 	 	66	 
	Section 7.09. Trustee May File Proofs of Claim
	 	 	66	 
	Section 7.10. Priorities
	 	 	67	 
	Section 7.11. Undertaking for Costs
	 	 	67	 
	 
	 	 	 	 
	ARTICLE 8 TRUSTEE
	 	 	67	 
	Section 8.01. Duties of Trustee
	 	 	67	 
	Section 8.02. Rights of Trustee
	 	 	68	 
	Section 8.03. Individual Rights of Trustee
	 	 	69	 
	Section 8.04. Trustee’s Disclaimer
	 	 	69	 
	Section 8.05. Notice of Defaults
	 	 	70	 
	Section 8.06. Reports by Trustee to Holders of the Notes
	 	 	70	 
	Section 8.07. Compensation and Indemnity
	 	 	70	 
	Section 8.08. Replacement of Trustee
	 	 	71	 
	Section 8.09. Successor Trustee by Merger, etc.
	 	 	72	 

iii

 

	 	 	 	 	 
	 	 	Page
	Section 8.10. Eligibility; Disqualification
	 	 	72	 
	Section 8.11. Preferential Collection of Claims Against Issuers
	 	 	73	 
	 
	 	 	 	 
	ARTICLE 9 LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	 	 	73	 
	Section 9.01. Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	73	 
	Section 9.02. Legal Defeasance and Discharge
	 	 	73	 
	Section 9.03. Covenant Defeasance
	 	 	74	 
	Section 9.04. Conditions to Legal or Covenant Defeasance
	 	 	74	 
	Section 9.05. Deposited Money and Government Securities to be Held in Trust; Other
Miscellaneous Provisions
	 	 	75	 
	Section 9.06. Repayment to Issuers
	 	 	76	 
	Section 9.07. Reinstatement
	 	 	76	 
	Section 9.08. Discharge
	 	 	76	 
	 
	 	 	 	 
	ARTICLE 10 AMENDMENT, SUPPLEMENT AND WAIVER
	 	 	78	 
	Section 10.01. Without Consent of Holders of Notes
	 	 	78	 
	Section 10.02. With Consent of Holders of Notes
	 	 	79	 
	Section 10.03. Compliance with Trust Indenture Act
	 	 	80	 
	Section 10.04. Revocation and Effect of Consents
	 	 	80	 
	Section 10.05. Notation on or Exchange of Notes
	 	 	81	 
	Section 10.06. Trustee to Sign Amendments, etc.
	 	 	81	 
	 
	 	 	 	 
	ARTICLE 11 GUARANTEES OF NOTES
	 	 	81	 
	Section 11.01. Subsidiary Guarantees
	 	 	81	 
	Section 11.02. [Reserved]
	 	 	82	 
	Section 11.03. Guarantors May Consolidate, etc., on Certain Terms
	 	 	82	 
	Section 11.04. Releases of Subsidiary Guarantees
	 	 	83	 
	Section 11.05. Notation of Subsidiary Guarantee
	 	 	83	 
	Section 11.06. Limitation on Guarantor Liability
	 	 	84	 
	Section 11.07. “Trustee” to Include Paying Agent
	 	 	84	 
	 
	 	 	 	 
	ARTICLE 12 MISCELLANEOUS
	 	 	84	 
	Section 12.01. Trust Indenture Act Controls
	 	 	84	 
	Section 12.02. Notices
	 	 	84	 
	Section 12.03. Communication by Holders of Notes with Other Holders of Notes
	 	 	85	 
	Section 12.04. Certificate and Opinion as to Conditions Precedent
	 	 	86	 
	Section 12.05. Statements Required in Certificate or Opinion
	 	 	86	 
	Section 12.06. Rules by Trustee and Agents
	 	 	86	 
	Section 12.07. No Personal Liability of Directors, Officers, Employees and Unitholders
	 	 	86	 
	Section 12.08. Governing Law
	 	 	87	 
	Section 12.09. No Adverse Interpretation of Other Agreements
	 	 	87	 
	Section 12.10. Successors
	 	 	87	 
	Section 12.11. Severability
	 	 	87	 
	Section 12.12. Evidence of Action by Holders
	 	 	87	 
	Section 12.13. Table of Contents, Headings, etc.
	 	 	87	 
	Section 12.14. Counterparts
	 	 	88	 

iv

 

SCHEDULE AND EXHIBITS

	 	 	 	 	 

	Schedule A — Guarantors
	 	Schedule A — 1
	 
	Form of Note
	 	Exhibit A — 1
	 
	Form of Notation of Subsidiary Guarantee
	 	Exhibit B — 1
	 
	Form of Supplemental Indenture
	 	Exhibit C — 1

v

 

     THIS FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated as of April 5, 2011 is
among Copano Energy, L.L.C., a Delaware limited liability company (the “Company”), Copano Energy
Finance Corporation, a Delaware corporation (“Finance Corp.,” and together with the Company, the
“Issuers”), the Guarantors (as defined herein), listed on Schedule A hereto and U.S. Bank National
Association, a national banking association, as Trustee under the Senior Indenture (the “Trustee”),
dated the date hereof, among the Issuers, the Guarantors and the Trustee (the “Base Indenture” and,
as amended and supplemented by this Supplemental Indenture, in respect of the Notes, the
“Indenture”).

RECITALS

     The Issuers, the Guarantors and the Trustee have duly authorized the execution and delivery of
the Base Indenture to provide for the issuance from time to time of the Issuers’ debentures, notes,
bonds or other evidences of indebtedness to be issued in one or more series unlimited as to
principal amount (herein called the “Debt Securities”), which Debt Securities may be guaranteed by
each of the Guarantors, as in the Indenture provided.

     Section 9.01 of the Base Indenture provides, among other things, that the Issuers, the
Guarantors and the Trustee may enter into indentures supplemental to the Base Indenture, without
the consent of any Holders of Debt Securities, to establish the form or terms of any Debt Security
as permitted by Sections 2.01 and 2.03 of the Base Indenture.

     Pursuant to Sections 2.01 and 2.03 of the Base Indenture, the Issuers desire to execute this
Supplemental Indenture to establish the form and terms, and to provide for the issuance, of a
series of senior notes designated as 7.125% Senior Notes due 2021 in an aggregate principal amount
of $360,000,000 (the “Initial Notes”).

     From time to time subsequent to the Issue Date, the Issuers may, if permitted to do so
pursuant to the terms of the Indenture, the Initial Notes and the terms of their other indebtedness
existing on such future date, issue additional senior notes of the same series as the Initial Notes
in accordance with this Supplemental Indenture (the “Additional Notes” and, together with the
Initial Notes, the “Notes”), pursuant to this Supplemental Indenture.

     The Issuers and the Guarantors are members of the same consolidated group of companies. The
Guarantors will derive direct and indirect economic benefit from the issuance of the Notes.
Accordingly, each Guarantor has duly authorized the execution and delivery of this Supplemental
Indenture to provide for its full, unconditional and joint and several Guarantee of the Notes to
the extent provided in or pursuant to the Indenture.

     This Supplemental Indenture is subject to the provisions of the Trust Indenture Act of 1939,
as amended, that are required to be a part of this Supplemental Indenture and shall, to the extent
applicable, be governed by such provisions.

     All things necessary have been done to make the Notes, when executed by the Issuers and
authenticated and delivered hereunder and duly issued by the Issuers, the valid obligations of the
Issuers, and all things necessary have been done to make the Guarantees thereof, when the Notes
have been executed by the Issuers and authenticated and delivered hereunder and duly issued by the
Issuers, the valid obligations of the Guarantors.

1

 

     All things necessary to make this Supplemental Indenture a valid agreement of each of the
Issuers and the Guarantors, in accordance with its terms, have been done.

NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH

     The Issuers, the Guarantors and the Trustee agree as follows for the benefit of each other and
for the equal and ratable benefit of the Holders of the Notes:

ARTICLE 1

APPLICATION OF SUPPLEMENTAL INDENTURE

Section 1.01. Application of this Supplemental Indenture.

     Notwithstanding any other provision of this Supplemental Indenture, the provisions of this
Supplemental Indenture, including as provided in Section 1.02 below, are expressly and solely for
the benefit of the Holders of the Notes and the Guarantees and shall not apply to any other series
of Debt Securities that may be issued hereafter under the Base Indenture. The Notes constitute a
series of Debt Securities as provided in the Base Indenture. Unless otherwise expressly specified,
references in this Supplemental Indenture to specific Article numbers or Section numbers refer to
Articles and Sections contained in this Supplemental Indenture, and not the Base Indenture or any
other document.

Section 1.02. Effect of Supplemental Indenture.

     With respect to the Notes (and any notation of Guarantee endorsed thereon) only, the Base
Indenture shall be supplemented and amended pursuant to Section 9.01 thereof to establish the form
and terms of the Notes (and any notation of Guarantee endorsed thereon) as set forth in this
Supplemental Indenture, including as follows:

     (a) Definitions. Article I of the Base Indenture is deleted and replaced in its entirety by
the provisions of Article 2 of this Supplemental Indenture;

     (b) Security Forms. Article II of the Base Indenture is deleted and replaced in its entirety
by the provisions of Article 3 of this Supplemental Indenture;

     (c) Redemption. The provisions of Article III of the Base Indenture are deleted and replaced
in their entirety by the provisions of Article 4 of this Supplemental Indenture;

     (d) Covenants. The provisions of Article IV of the Base Indenture are deleted and replaced in
their entirety by the provisions of Article 5 of this Supplemental Indenture;

     (e) Holders’ Lists and Reports by Trustee. The provisions of Article V of the Base Indenture
are deleted in their entirety;

     (f) Remedies of the Trustee and Holders in Event of Default. The provisions of Article VI of
the Base Indenture are deleted and replaced in their entirety by the provisions of Article 7 of
this Supplemental Indenture;

2

 

     (g) The Trustee. The provisions of Article VII of the Base Indenture are deleted and replaced
in their entirety by the provisions of Article 8 of this Supplemental Indenture;

     (h) The Holders. The provisions of Article VIII of the Base Indenture are deleted in their
entirety;

     (i) Supplemental Indentures. The provisions of Article IX of the Base Indenture are deleted
and replaced in their entirety by the provisions of Article 10 of this Supplemental Indenture;

     (j) Consolidation, Merger, Sale of Assets. The provisions of Article X of the Base Indenture
are deleted and replaced in their entirety by the provisions of Article 6 of this Supplemental
Indenture;

     (k) Satisfaction and Discharge; Defeasance. The provisions of Article XI of the Base Indenture
are deleted and replaced in their entirety by the provisions of Article 9 of this Supplemental
Indenture;

     (l) Guarantees. The provisions of Article XIV of the Base Indenture are deleted and replaced
in their entirety by the provisions of Article 11 of this Supplemental Indenture; and

     (m) Miscellaneous. The provisions of Article XIII of the Base Indenture are deleted and
replaced in their entirety by the provisions of Article 12 of this Supplemental Indenture.

     (n) Exhibits. Annex A of the Base Indenture is deleted and replaced in its entirety by
Exhibits A, B and C of this Supplemental Indenture.

     To the extent that the provisions of this Supplemental Indenture (including those referred to
in clauses (a) through (n) above) conflict with any provision of the Base Indenture, the provisions
of this Supplemental Indenture shall govern and be controlling, solely with respect to the Notes
(and any notation of Guarantee endorsed thereon).

ARTICLE 2

DEFINITIONS AND INCORPORATION

BY REFERENCE

Section 2.01. Definitions.

     “Acquired Debt” means, with respect to any specified Person:

     (1) Indebtedness of any other Person existing at the time such other Person was merged
with or into or became a Subsidiary of such specified Person, whether or not such
Indebtedness is incurred in connection with, or in contemplation of, such other Person
merging with or into, or becoming a Subsidiary of, such specified Person, but excluding
Indebtedness which is extinguished, retired or repaid in connection with such Person merging
with or becoming a Subsidiary or such specified Person; and

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     (2) Indebtedness secured by a Lien encumbering any asset acquired by such specified
Person.

     “Additional Notes” means, subject to the Company’s compliance with Section 5.09, 7.125% Senior
Notes due 2021 issued from time to time after the Issue Date under the terms of this Indenture
(other than pursuant to Section 3.09, 3.14, 4.06, 4.09, 5.15 or 10.05 of this Indenture).

     “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
purposes of this definition, “control,” as used with respect to any Person, means the possession,
directly or indirectly, of the power to direct or cause the direction of the management or policies
of such Person, whether through the ownership of voting securities, by agreement or otherwise;
provided, however, that beneficial ownership of 10% or more of the Voting Stock of a Person will be
deemed to be control by the other Person; and further, that any third Person which also
beneficially owns 10% or more of the Voting Stock of a specified Person shall not be deemed to be
an Affiliate of either the specified Person or the other Person merely because of such common
ownership in such specified Person. For purposes of this definition, the terms “controlling,”
“controlled by” and “under common control with” have correlative meanings.

     “Agent” means any Registrar or Paying Agent.

     “Applicable Law,” except as the context may otherwise require, means all applicable laws,
rules, regulations, ordinances, judgments, decrees, injunctions, writs and orders of any court or
governmental or congressional agency or authority and rules, regulations, orders, licenses and
permits of any United States federal, state, municipal, regional, or other governmental body,
instrumentality, agency or authority.

     “Asset Sale” means:

     (1) the sale, lease, conveyance or other disposition of any properties or assets
(including by way of a sale and leaseback transaction); provided, however, that the
disposition of all or substantially all of the properties or assets of the Company and its
Restricted Subsidiaries taken as a whole will be governed by the provisions of Section 5.15
and/or the provisions of Section 6.01 and not by the provisions of Section 5.10; and

     (2) the issuance of Equity Interests in any of the Company’s Restricted Subsidiaries or
the sale of Equity Interests in any of its Restricted Subsidiaries.

     Notwithstanding the preceding, the following items will not be deemed to be Asset Sales:

     (1) any single transaction or series of related transactions that involves properties
or assets having a fair market value of less than $10.0 million;

     (2) a transfer of assets between or among any of the Company and its Restricted
Subsidiaries,

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     (3) an issuance or sale of Equity Interests by a Restricted Subsidiary to the Company
or to another Restricted Subsidiary;

     (4) the sale, lease or other disposition of equipment, inventory, accounts receivable
or other properties or assets in the ordinary course of business;

     (5) the sale or other disposition of cash or Cash Equivalents, Hedging Contracts or
other financial instruments in the ordinary course of business;

     (6) a Restricted Payment that is permitted by Section 5.07 or a Permitted Investment;

     (7) any trade or exchange by the Company or any Restricted Subsidiary of properties or
assets for properties or assets owned or held by another Person, provided that the fair
market value of the properties or assets traded or exchanged by the Company or such
Restricted Subsidiary (together with any cash) is reasonably equivalent to the fair market
value of the properties or assets (together with any cash) to be received by the Company or
such Restricted Subsidiary, and provided further that any net cash received must be applied
in accordance with the provisions of Section 5.10;

     (8) the creation or perfection of a Lien that is not prohibited by Section 5.12;

     (9) dispositions in connection with Permitted Liens;

     (10) surrender or waiver of contract rights or the settlement, release or surrender of
contract, tort or other claims of any kind; and

     (11) the grant in the ordinary course of business of any non-exclusive license of
patents, trademarks, registrations therefor and other similar intellectual property.

     “Attributable Debt” in respect of a sale and leaseback transaction means, at the time of
determination, the present value of the obligation of the lessee for net rental payments during the
remaining term of the lease included in such sale and leaseback transaction including any period
for which such lease has been extended or may, at the option of the lessor, be extended. Such
present value shall be calculated using a discount rate equal to the rate of interest implicit in
such transaction, determined in accordance with GAAP. As used in the preceding sentence, the “net
rental payments” under any lease for any such period shall mean the sum of rental and other
payments required to be paid with respect to such period by the lessee thereunder, excluding any
amounts required to be paid by such lessee on account of maintenance and repairs, insurance, taxes,
assessments, water rates or similar charges. In the case of any lease that is terminable by the
lessee upon payment of penalty, such net rental payment shall also include the amount of such
penalty, but no rent shall be considered as required to be paid under such lease subsequent to the
first date upon which it may be so terminated.

     “Available Cash” has the meaning assigned to such term in the LLC Agreement, as in effect on
the date of this Indenture.

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

     “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under
the Exchange Act, except that in calculating the beneficial ownership of any particular “person”
(as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to
have beneficial ownership of all securities that such “person” has the right to acquire by
conversion or exercise of other securities, whether such right is currently exercisable or is
exercisable only upon the occurrence of a subsequent condition. The terms “Beneficially Owns” and
“Beneficially Owned” have correlative meanings.

     “Board of Directors” means:

     (1) with respect to Finance Corp., the board of directors of the corporation;

     (2) with respect to the Company, the board of directors of the Company or any
authorized committee thereof; and

     (3) with respect to any other Person, the board or committee of such Person serving a
similar function.

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

     “Business Day” means each day that is not a Saturday, Sunday or other day on which banking
institutions in Houston, Texas or in New York, New York or another place of payment are authorized
or required by law to close.

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

     “Capital Stock” means:

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

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

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

     (4) any other interest or participation that confers on a Person the right to receive a
share of the profits and losses of, or distributions of assets of, the issuing Person.

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     “Cash Equivalents” means:

     (1) United States dollars;

     (2) securities issued or directly and fully guaranteed or insured by the United States
government or any agency or instrumentality of the United States government (provided that
the full faith and credit of the United States is pledged in support of those securities)
having maturities of not more than six months from the date of acquisition;

     (3) certificates of deposit and eurodollar time deposits with maturities of one year or
less from the date of acquisition, bankers’ acceptances with maturities not exceeding one
year and overnight bank deposits, in each case, with any lender party to the Credit
Agreement or with any domestic commercial bank having capital and surplus in excess of
$500.0 million and a Thomson Bank Watch Rating of “B” or better;

     (4) repurchase obligations with a term of not more than seven days for underlying
securities of the types described in clauses (2) and (3) above entered into with any
financial institution meeting the qualifications specified in clause (3) above;

     (5) commercial paper having the highest rating obtainable from Moody’s or S&P and in
each case maturing within six months after the date of acquisition; and

     (6) money market funds at least 95% of the assets of which constitute Cash Equivalents
of the kinds described in clauses (1) through (5) of this definition.

     “Certificated Note” means a Note in certificated form registered in the name of the Holder
thereof and issued in substantially the form of Exhibit A hereto, which Note will not bear the
legend set forth in Section 3.02 hereof and will not have the “Schedule of Increases or Decreases
in Global Note” attached thereto.

     “Change of Control” means the occurrence of any of the following:

     (1) the direct or indirect sale, lease, transfer, conveyance or other disposition
(other than by way of merger or consolidation), in one or a series of related transactions,
of all or substantially all of the properties or assets (including Capital Stock of the
Restricted Subsidiaries) of the Company and its Restricted Subsidiaries taken as a whole, to
any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), which
occurrence is followed by a Rating Decline within 90 days of the consummation of such
transaction;

     (2) the adoption of a plan relating to the liquidation or dissolution of the Company;

     (3) the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person” (as that term is used in Section
13(d)(3) of the Exchange Act) becomes the Beneficial Owner, directly or indirectly, of more
than 50% of the Voting Stock of the Company, measured by voting

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power rather than number of shares, units or the like, which occurrence is followed by
a Rating Decline within 90 days thereof; or

     (4) the first day on which a majority of the members of the Board of Directors of the
Company are not Continuing Directors, which occurrence is followed by a Rating Decline
within 90 days thereof.

     Notwithstanding the preceding, a conversion of the Company or any of its Restricted
Subsidiaries from a limited liability company, corporation, limited partnership or other form of
entity to a limited liability company, corporation, limited partnership or other form of entity or
an exchange of all of the outstanding Equity Interests in one form of entity for Equity Interests
for another form of entity shall not constitute a Change of Control, so long as following such
conversion or exchange the “persons” (as that term is used in Section 13(d)(3) of the Exchange Act)
who Beneficially Owned the Capital Stock of the Company immediately prior to such transactions
continue to Beneficially Own in the aggregate more than 50% of the Voting Stock of such entity, or
continue to Beneficially Own sufficient Equity Interests in such entity to elect a majority of its
directors, managers, trustees or other persons serving in a similar capacity for such entity, and,
in either case no “person” Beneficially Owns more than 50% of the Voting Stock of such entity.

     “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any
successor statute.

     “Commission” or “SEC” means the Securities and Exchange Commission.

     “Consolidated Cash Flow” means, with respect to any specified Person for any period, the
Consolidated Net Income of such Person for such period plus:

     (1) an amount equal to any net loss realized by such Person or any of its Restricted
Subsidiaries in connection with an Asset Sale, to the extent such losses were deducted in
computing such Consolidated Net Income; plus

     (2) provision for taxes based on income or profits of such Person and its Restricted
Subsidiaries for such period, to the extent that such provision for taxes was deducted in
computing such Consolidated Net Income; plus

     (3) consolidated interest expense of such Person and its Restricted Subsidiaries for
such period, whether paid or accrued and whether or not capitalized (including, without
limitation, amortization of debt issuance costs and original issue discount, non-cash
interest payments, the interest component of any deferred payment obligations, the interest
component of all payments associated with Capital Lease Obligations, imputed interest with
respect to Attributable Debt, commissions, discounts and other fees and charges incurred in
respect of letter of credit or bankers’ acceptance financings), and net of the effect of all
payments made or received pursuant to interest rate Hedging Contracts, to the extent that
any such expense was deducted in computing such Consolidated Net Income; plus

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     (4) depreciation and amortization (including amortization of intangibles but excluding
amortization of prepaid cash expenses that were paid in a prior period), impairment and
other non-cash expenses (excluding any such non-cash expense to the extent that it
represents an accrual of or reserve for cash expenses in any future period or amortization
of a prepaid cash expense that was paid in a prior period) of such Person and its Restricted
Subsidiaries for such period to the extent that such depreciation and amortization,
impairment and other non-cash expenses were deducted in computing such Consolidated Net
Income; plus

     (5) unrealized non-cash losses resulting from foreign currency balance sheet
adjustments required by GAAP to the extent such losses were deducted in computing such
Consolidated Net Income; plus

     (6) all extraordinary, unusual or non-recurring items of gain or loss, or revenue or
expense; minus

     (7) non-cash items increasing such Consolidated Net Income for such period, other than
items that were accrued in the ordinary course of business;

in each case, on a consolidated basis and determined in accordance with GAAP.

     “Consolidated Net Income” means, with respect to any specified Person for any period, the
aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a
consolidated basis, determined in accordance with GAAP, provided that:

     (1) the Net Income (but not loss) of any Person that is not a Restricted Subsidiary or
that is accounted for by the equity method of accounting will be included, but only to the
extent of the amount of dividends or distributions paid in cash to the specified Person or a
Restricted Subsidiary of the Person;

     (2) the Net Income of any Restricted Subsidiary will be excluded to the extent that the
declaration or payment of dividends or similar distributions by that Restricted Subsidiary
of that Net Income is not at the date of determination permitted without any prior
governmental approval (that has not been obtained) or, directly or indirectly, by operation
of the terms of its charter or any judgment, decree, order, statute, rule or governmental
regulation applicable to that Restricted Subsidiary or its stockholders, partners or
members;

     (3) the cumulative effect of a change in accounting principles will be excluded;

     (4) unrealized losses and gains under derivative instruments included in the
determination of Consolidated Net Income, including, without limitation those resulting from
the application of Financial Accounting Standards Board (FASB) Accounting Standards
Codification (ASC) 815 will be excluded; and

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     (5) any nonrecurring charges relating to any premium or penalty paid, write off of
deferred finance costs or other charges in connection with redeeming or retiring any
Indebtedness prior to its Stated Maturity will be excluded.

     “Consolidated Net Tangible Assets” means, with respect to any Person at any date of
determination, the aggregate amount of total assets included in such Person’s most recent quarterly
or annual consolidated balance sheet prepared in accordance with GAAP less applicable reserves
reflected in such balance sheet, after deducting the following amounts: (a) all current
liabilities reflected in such balance sheet, and (b) all goodwill, trademarks, patents, unamortized
debt discounts and expenses and other like intangibles reflected in such balance sheet.

     “Continuing Directors” means, as of any date of determination, any member of the Board of
Directors of the Company who:

     (1) was a member of such Board of Directors on the date of this Indenture; or

     (2) was nominated for election or elected to such Board of Directors with the approval
of a majority of the Continuing Directors who were members of such Board at the time of such
nomination or election.

     “Corporate Trust Office of the Trustee” means the office of the Trustee in the City of New
York at which at any time its corporate trust business shall be administered, which office at the
date hereof is located at 100 Wall Street, Suite 1600, New York, New York 10005, Attn: Corporate
Trust Department, or such other address in the City of New York as the Trustee may designate from
time to time by notice to the Holders and the Issuers, or the principal corporate trust office in
the City of New York of any successor Trustee (or such other address as a successor Trustee may
designate from time to time by notice to the Holders and the Issuers).

     “Credit Agreement” means that certain Amended and Restated Credit Agreement, dated as of
January 12, 2007, among the Company, Bank of America, N.A., as Administrative Agent and L/C Issuer,
and the other lenders party thereto, including any related notes, guarantees, collateral documents,
instruments and agreements executed in connection therewith, and in each case as amended, restated,
modified, renewed, refunded, replaced or refinanced from time to time.

     “Credit Facilities” means one or more debt facilities (including, without limitation, the
Credit Agreement), commercial paper facilities or secured capital markets financings, in each case
with banks or other institutional lenders or institutional investors providing for revolving credit
loans, term loans, receivables financing (including through the sale of receivables to such lenders
or to special purpose entities formed to borrow from such lenders against such receivables),
letters of credit or secured capital markets financings, in each case, as amended, restated,
modified, renewed, refunded, replaced or refinanced (including refinancing with any capital markets
transaction) in whole or in part from time to time.

     “Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar
official under any Bankruptcy Law.

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

     “Depository” means, with respect to any Global Note, the Person specified in Section 3.06
hereof as the Depository with respect to such Global Note, and any successor thereto appointed as
depository hereunder.

     “Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any
security into which it is convertible, or for which it is exchangeable, in each case at the option
of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily
redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the
holder of the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the
date on which the Notes mature. Notwithstanding the preceding sentence, any Capital Stock that
would constitute Disqualified Stock solely because the holders of the Capital Stock have the right
to require the Company to repurchase or redeem such Capital Stock upon the occurrence of a change
of control or an asset sale will not constitute Disqualified Stock if the terms of such Capital
Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to such
provisions unless such repurchase or redemption complies with Section 5.07.

     “Domestic Subsidiary” means any Restricted Subsidiary of the Company that was formed under the
laws of the United States or any state of the United States or the District of Columbia.

     “Equity Interests” means Capital Stock and all warrants, options or other rights to acquire
Capital Stock (but excluding any debt security that is convertible into, or exchangeable for,
Capital Stock).

     “Equity Investee” means each of Webb/Duval Gatherers, Southern Dome, LLC, Bighorn Gas
Gathering, L.L.C., Fort Union Gas Gathering, L.L.C., Eagle Ford Gathering LLC and Liberty Pipeline
Group, LLC.

     “Equity Offering” means any public or private sale of Capital Stock (other than Disqualified
Stock) made for cash on a primary basis by the Company after the date of this Indenture, provided
that at any time on or after a Change of Control, any sale of Capital Stock to an Affiliate of the
Company shall not be deemed an Equity Offering.

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

     “Existing Indebtedness” means the aggregate principal amount of Indebtedness of the Company
and its Restricted Subsidiaries (other than Indebtedness under the Credit Agreement which is
considered incurred under the first paragraph of Section 5.09 and other than intercompany
Indebtedness) in existence on the date of this Indenture, until such amounts are repaid.

     “FERC Subsidiary” means a Restricted Subsidiary of the Company that is subject to the
regulatory jurisdiction of the Federal Energy Regulatory Commission (or any successor thereof).

     “Fixed Charge Coverage Ratio” means with respect to any specified Person for any four-quarter
reference period, the ratio of the Consolidated Cash Flow of such Person for such period

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to the Fixed Charges of such Person for such period. In the event that the specified Person
or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases or redeems
any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems
preferred stock subsequent to the commencement of the applicable four-quarter reference period and
on or prior to the date on which the event for which the calculation of the Fixed Charge Coverage
Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated
giving pro forma effect to such incurrence, assumption, guarantee, repayment, repurchase or
redemption of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the
use of the proceeds therefrom as if the same had occurred at the beginning of such period.

In addition, for purposes of calculating the Fixed Charge Coverage Ratio:

     (1) acquisitions that have been made by the specified Person or any of its Restricted
Subsidiaries, including through mergers, consolidations or otherwise (including acquisitions
of assets used in a Permitted Business), and including in each case any related financing
transactions (including repayment of Indebtedness) during the four-quarter reference period
or subsequent to such reference period and on or prior to the Calculation Date, will be
given pro forma effect as if they had occurred on the first day of the four-quarter
reference period, including any Consolidated Cash Flow and any pro forma expense and cost
reductions that have occurred or are reasonably expected to occur, in the reasonable
judgment of the chief financial or accounting officer of the Company (regardless of whether
those cost savings or operating improvements could then be reflected in pro forma financial
statements in accordance with Regulation S-X promulgated under the Securities Act or any
other regulation or policy of the Commission related thereto);

     (2) the Consolidated Cash Flow attributable to discontinued operations, as determined
in accordance with GAAP, and operations or businesses disposed of prior to the Calculation
Date, will be excluded;

     (3) the Fixed Charges attributable to discontinued operations, as determined in
accordance with GAAP, and operations or businesses disposed of prior to the Calculation
Date, will be excluded, but only to the extent that the obligations giving rise to such
Fixed Charges will not be obligations of the specified Person or any of its Restricted
Subsidiaries following the Calculation Date; and

     (4) interest income reasonably anticipated by such Person to be received during the
applicable four-quarter period from cash or Cash Equivalents held by such Person or any
Restricted Subsidiary of such Person, which cash or Cash Equivalents exist on the
Calculation Date or will exist as a result of the transaction giving rise to the need to
calculate the Fixed Charge Coverage Ratio, will be included.

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     “Fixed Charges” means, with respect to any specified Person for any period, the sum, without
duplication, of:

     (1) the consolidated interest expense of such Person and its Restricted Subsidiaries
for such period, whether paid or accrued (including, without limitation, amortization of
debt issuance costs and original issue discount, non-cash interest payments, the interest
component of any deferred payment obligations, the interest component of all payments
associated with Capital Lease Obligations, imputed interest with respect to Attributable
Debt, commissions, discounts and other fees and charges incurred in respect of letter of
credit or bankers’ acceptance financings), and net of the effect of all payments made or
received pursuant to interest rate Hedging Contracts; plus

     (2) the consolidated interest expense of such Person and its Restricted Subsidiaries
that was capitalized during such period; plus

     (3) any interest expense on Indebtedness of another Person that is guaranteed by such
Person or one of its Restricted Subsidiaries or secured by a Lien on assets of such Person
or one of its Restricted Subsidiaries, whether or not such guarantee or Lien is called upon;
plus

     (4) all dividends on any series of Disqualified Stock of such Person or any series of
preferred securities of its Restricted Subsidiaries, whether paid or accrued and whether or
not in cash, other than dividends on Equity Interests payable solely in Equity Interests of
the payor (other than Disqualified Stock) or to such Person or a Restricted Subsidiary of
such Person,

in each case, on a consolidated basis and in accordance with GAAP.

     “Foreign Subsidiary” means any Restricted Subsidiary of the Company that (a) is not a Domestic
Subsidiary and (b) has 50% or more of its consolidated assets located outside the United States or
any territory thereof.

     “GAAP” means generally accepted accounting principles in the United States which are in effect
on the date of this Indenture.

     “Global Note” means a Note in permanent global form registered in the name of the Depository
or its nominee and issued in substantially the form of Exhibit A hereto, containing the legend set
forth in Section 3.02 hereof and having the “Schedule of Increases or Decreases in Global Note”
attached thereto.

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

     The term “guarantee” means a guarantee other than by endorsement of negotiable instruments for
collection in the ordinary course of business, direct or indirect, in any manner including, without
limitation, by way of a pledge of assets or through letters of credit or

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reimbursement agreements in respect thereof, of all or any part of any Indebtedness. When
used as a verb, “guarantee” has a correlative meaning.

     “Guarantors” means each of (a) the Subsidiaries of the Company, other than Finance Corp.,
executing this Indenture as initial Guarantors, (b) any other Restricted Subsidiary of the Company
that executes a supplement to this Indenture in accordance with Section 5.13 or 11.03 hereof and
(c) the respective successors and assigns of such Restricted Subsidiaries, as required under
Article 11 hereof, in each case until such time as any such Restricted Subsidiary shall be released
and relieved of its obligations pursuant to Section 9.02, 9.03 or 11.04 hereof.

     “Hedging Contracts”“ means, with respect to any specified Person:

     (1) interest rate swap agreements, interest rate cap agreements and interest rate
collar agreements entered into with one or more financial institutions and designed to
protect the Person or any of its Restricted Subsidiaries entering into the agreement against
fluctuations in interest rates with respect to Indebtedness incurred and not for purposes of
speculation;

     (2) foreign exchange contracts and currency protection agreements entered into with one
of more financial institutions and designed to protect the Person or any of its Restricted
Subsidiaries entering into the agreement against fluctuations in currency exchanges rates
with respect to Indebtedness incurred;

     (3) any commodity futures contract, commodity option or other similar agreement or
arrangement designed to protect against fluctuations in the price of Hydrocarbons used,
produced, processed or sold by that Person or any of its Restricted Subsidiaries at the
time; and

     (4) other agreements or arrangements designed to protect such Person or any of its
Restricted Subsidiaries against fluctuations in interest rates, commodity prices or currency
exchange rates,

and in each case are entered into only in the normal course of business and not for speculative
purposes.

     “Holder,” “Noteholder” or “Holder of Debt Securities” means a Person in whose name a Note is
registered.

     “Hydrocarbons” means crude oil, natural gas, casinghead gas, drip gasoline, natural gasoline,
condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all constituents, elements or
compounds thereof and products refined or processed therefrom.

     “Indebtedness” means, with respect to any specified Person, any indebtedness of such Person,
whether or not contingent:

     (1) in respect of borrowed money;

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     (2) evidenced by bonds, notes, debentures or similar instruments or letters of credit
(or reimbursement agreements in respect thereof);

     (3) in respect of bankers’ acceptances;

     (4) representing Capital Lease Obligations;

     (5) representing the balance deferred and unpaid of the purchase price of any property,
except any such balance that constitutes an accrued expense or trade payable; or

     (6) representing any obligations under Hedging Contracts,

if and to the extent any of the preceding items (other than letters of credit and obligations under
Hedging Contracts) would appear as a liability upon a balance sheet of the specified Person
prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness
of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness
is assumed by the specified Person) and, to the extent not otherwise included, the guarantee by the
specified Person of any Indebtedness of any other Person. For the avoidance of doubt, the term
“Indebtedness” excludes any obligation arising from any agreement providing for indemnities,
purchase price adjustments, holdbacks, contingency payment obligations based on the performance of
the acquired or disposed assets or similar obligations (other than guarantees of Indebtedness)
incurred by the specified Person in connection with the acquisition or disposition of assets.

The amount of any Indebtedness outstanding as of any date will be:

     (1) the accreted value of the Indebtedness, in the case of any Indebtedness issued with
original issue discount;

     (2) in the case of obligations under any Hedging Contracts, the termination value of
the agreement or arrangement giving rise to such obligations that would be payable by such
Person at such date; and

     (3) the principal amount of the Indebtedness, together with any interest on the
Indebtedness that is more than 30 days past due, in the case of any other Indebtedness.

     “Interest Payment Date” means each April 1 and October 1, beginning October 1, 2011.

     “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by
Moody’s and BBB- (or the equivalent) by S&P.

     “Investments” means, with respect to any Person, all direct or indirect investments by such
Person in other Persons (including Affiliates) in the forms of loans (including guarantees or other
obligations), advances or capital contributions (excluding (1) commission, travel and similar
advances to officers and employees made in the ordinary course of business and (2) advances to
customers in the ordinary course of business that are recorded as accounts receivable on the
balance sheet of the lender), purchases or other acquisitions for consideration of Indebtedness,
Equity Interests or other securities, together with all items that are or would be

15

 

classified as investments on a balance sheet prepared in accordance with GAAP. If the Company
or any Restricted Subsidiary of the Company sells or otherwise disposes of any Equity Interests of
any direct or indirect Restricted Subsidiary of the Company such that, after giving effect to any
such sale or disposition, such Person is no longer a Restricted Subsidiary of the Company, the
Company will be deemed to have made an Investment on the date of any such sale or disposition in an
amount equal to the fair market value of the Equity Interests of such Restricted Subsidiary not
sold or disposed of in an amount determined as provided in the final paragraph of Section 5.07.
The acquisition by the Company or any Subsidiary of the Company of a Person that holds an
Investment in a third Person will be deemed to be an Investment made by the Company or such
Subsidiary in such third Person in an amount equal to the fair market value of the Investment held
by the acquired Person in such third Person on the date of any such acquisition in an amount
determined as provided in the final paragraph of Section 5.07.

     “Issue Date” means April 5, 2011.

     “Issuer Order” means a written request or order signed on behalf of each Issuer by an Officer
thereof and delivered to the Trustee.

     “Joint Venture” means any Person that is not a direct or indirect Subsidiary of the Company in
which the Company or any of its Restricted Subsidiaries makes any Investment.

     “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under Applicable Law, including any conditional sale or other title retention agreement,
any lease in the nature thereof, any option or other agreement to sell or give a security interest
in and any filing of or agreement to give any financing statement under the Uniform Commercial Code
(or equivalent statutes) of any jurisdiction other than a precautionary financing statement
respecting a lease not intended as a security agreement.

     “LLC Agreement” means the Fourth Amended and Restated Limited Liability Company Agreement of
Copano Energy, L.L.C., dated as of July 20, 2010, as amended by Amendment No. 1 dated July 21,
2010, as in effect on the date of this Indenture and as such may be further amended, modified or
supplemented from time to time.

     “Make Whole Premium” means, with respect to a Note at any time, the excess, if any, of (a) the
present value at such time of (i) the redemption price of such Note at April 1, 2016, pursuant to
Section 4.07(a) plus (ii) any required interest payments due on such Note through April 1, 2016
(except for currently accrued and unpaid interest), computed using a discount rate equal to the
Treasury Rate plus 50 basis points, discounted to the redemption date on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months), over (b) the principal amount of
such Note.

     “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business
thereof.

16

 

     “Net Income” means, with respect to any specified Person, the net income (loss) of such
Person, determined in accordance with GAAP and before any reduction in respect of preferred stock
dividends, excluding, however:

     (1) any gain (but not loss), together with any related provision for taxes on such gain
(but not loss), realized in connection with: (a) any Asset Sale; or (b) the disposition of
any securities by such Person or the extinguishment of any Indebtedness of such Person; and

     (2) any extraordinary gain (but not loss), together with any related provision for
taxes on such extraordinary gain (but not loss).

     “Net Proceeds” means the aggregate cash proceeds received by the Company or any of its
Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash
received upon the sale or other disposition of any non-cash consideration received in any Asset
Sale), net of:

     (1) the direct costs relating to such Asset Sale, including, without limitation, legal,
accounting and investment banking fees, and sales commissions, and any relocation expenses
incurred as a result of the Asset Sale,

     (2) taxes paid or payable as a result of the Asset Sale, in each case, after taking
into account any available tax credits or deductions and any tax sharing arrangements,

     (3) amounts required to be applied to the repayment of Indebtedness secured by a Lien
on the properties or assets that were the subject of such Asset Sale, and

     (4) any amounts to be set aside in any reserve established in accordance with GAAP or
any amount placed in escrow, in either case for adjustment in respect of the sale price of
such properties or assets or for liabilities associated with such Asset Sale and retained by
the Company or any of its Restricted Subsidiaries until such time as such reserve is
reversed or such escrow arrangement is terminated, in which case Net Proceeds shall include
only the amount of the reserve so reversed or the amount returned to the Company or its
Restricted Subsidiaries from such escrow arrangement, as the case may be.

     “Non-Recourse Debt” means Indebtedness:

     (1) as to which neither the Company nor any of its Restricted Subsidiaries (a) provides
credit support of any kind (including any undertaking, agreement or instrument that would
constitute Indebtedness), (b) is directly or indirectly liable as a guarantor or otherwise,
or (c) is the lender;

     (2) no default with respect to which (including any rights that the holders of the
Indebtedness may have to take enforcement action against an Unrestricted Subsidiary) would
permit upon notice, lapse of time or both any holder of any other Indebtedness (other than
the Notes) of the Company or any of its Restricted Subsidiaries

17

 

to declare a default on such other Indebtedness or cause the payment of the
Indebtedness to be accelerated or payable prior to its Stated Maturity; and

     (3) as to which the lenders have been notified in writing that they will not have any
recourse to the Capital Stock or assets of the Company or any of its Restricted Subsidiaries
except as contemplated by clause (9) of the definition of Permitted Liens.

     For purposes of determining compliance with Section 5.09, in the event that any Non-Recourse
Debt of any of the Company’s Unrestricted Subsidiaries ceases to be Non-Recourse Debt of such
Unrestricted Subsidiary, such event will be deemed to constitute an incurrence of Indebtedness by a
Restricted Subsidiary of the Company.

     “Notes Custodian” means the custodian with respect to a Global Note appointed by the
Depository or any successor thereof. Initially, the Notes Custodian is the Trustee.

     “Obligations” means any principal, premium, if any, interest (including interest accruing on
or after the filing of any petition in bankruptcy or for reorganization, whether or not a claim for
post-filing interest is allowed in such proceeding), penalties, fees, charges, expenses,
indemnifications, reimbursement obligations, damages, guarantees, and other liabilities or amounts
payable under the documentation governing any Indebtedness or in respect thereto.

     “Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial Officer, any Vice
President, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Assistant
Secretary of such Person (or, if such Person is a limited partnership, the general partner of such
Person).

     “Officers’ Certificate” means a certificate signed on behalf of each of the Company and
Finance Corp. by two of its Officers, one of whom must be the principal executive officer, the
principal financial officer, the treasurer or the principal accounting officer of the Company or
Finance Corp., as the case may be, that meets the requirements of Section 12.05 hereof.

     “Operating Surplus” has the meaning assigned to such term in the LLC Agreement, as in effect
on the date of this Indenture.

     “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the
Trustee, that meets the requirements of Section 12.05 hereof. The counsel may be an employee of or
counsel to the Company, any Subsidiary of the Company or the Trustee.

     “Pari Passu Indebtedness” means, with respect to any Excess Proceeds from Asset Sales,
Indebtedness of an Issuer or any Guarantor that ranks equally in right of payment with the Notes or
the Subsidiary Guarantees, as the case may be, and the terms of which require the Company or any of
its Restricted Subsidiaries to apply such Excess Proceeds to offer to repurchase such Indebtedness.

     “Permitted Business” means either (1) gathering, transporting, treating, processing,
marketing, distributing, storing or otherwise handling Hydrocarbons, or activities or services
reasonably related or ancillary thereto including entering into Hedging Contracts to support these

18

 

businesses, or (2) any other business that generates gross income that constitutes “qualifying
income” under Section 7704(d) of the Code.

     “Permitted Business Investments” means Investments by the Company or any of its Restricted
Subsidiaries in any Unrestricted Subsidiary of the Company or in any Joint Venture, provided that:

     (1) either (a) at the time of such Investment and immediately thereafter, the Company
could incur $1.00 of additional Indebtedness under the Fixed Charge Coverage Ratio test set
forth in the first paragraph of Section 5.09 or (b) such Investment does not exceed the
aggregate amount of Incremental Funds (as defined in Section 5.09) not previously expended
at the time of making such Investment;

     (2) if such Unrestricted Subsidiary or Joint Venture has outstanding Indebtedness at
the time of such Investment, either (a) all such Indebtedness is Non-Recourse Debt or (b)
any such Indebtedness of such Unrestricted Subsidiary or Joint Venture that is recourse to
the Company or any of its Restricted Subsidiaries (which shall include, without limitation,
all Indebtedness of such Unrestricted Subsidiary or Joint Venture for which the Company or
any of its Restricted Subsidiaries may be directly or indirectly, contingently or otherwise,
obligated to pay, whether pursuant to the terms of such Indebtedness, by law or pursuant to
any guarantee ,including, without limitation, any “claw-back,” “make-well” or “keep-well”
arrangement) could, at the time such Investment is made, be incurred at that time by the
Company and its Restricted Subsidiaries under the Fixed Charge Coverage Ratio test set forth
in the first paragraph of Section 5.09; and

     (3) such Unrestricted Subsidiary’s or Joint Venture’s activities are not outside the
scope of the Permitted Business.

     “Permitted Investments” means:

     (1) any Investment in the Company or in a Restricted Subsidiary of the Company;

     (2) any Investment in Cash Equivalents;

     (3) any Investment by the Company or any Restricted Subsidiary of the Company in a
Person, if as a result of such Investment:

     (a) such Person becomes a Restricted Subsidiary of the Company; or

     (b) such Person is merged, consolidated or amalgamated with or into, or
transfers or conveys substantially all of its properties or assets to, or is
liquidated into, the Company or a Restricted Subsidiary of the Company;

19

 

     (4) any Investment made as a result of the receipt of non-cash consideration from:

     (a) an Asset Sale that was made pursuant to and in compliance with Section
5.10;

     (b) pursuant to clause (7) of the items deemed not to be Asset Sales under the
definition of “Asset Sale;”

     (5) any Investment in any Person solely in exchange for the issuance of Equity
Interests (other than Disqualified Stock) of the Company;

     (6) any Investments received in compromise of obligations of trade creditors or
customers that were incurred in the ordinary course of business, including pursuant to any
plan of reorganization or similar arrangement upon the bankruptcy or insolvency of any trade
creditor or customer, or as a result of a foreclosure by the Company or any of its
Restricted Subsidiaries with respect to any secured Investment in default;

     (7) Hedging Contracts;

     (8) Permitted Business Investments; and

     (9) other Investments in any Person having an aggregate fair market value (measured on
the date each such Investment was made and without giving effect to subsequent changes in
value), when taken together with all other Investments made pursuant to this clause (9) that
are at the time outstanding, not to exceed the greater of $80.0 million or 5.0% of the
Company’s Consolidated Net Tangible Assets.

     “Permitted Liens” means:

     (1) Liens securing any Indebtedness under any of the Credit Facilities;

     (2) Liens in favor of the Company or the Guarantors;

     (3) Liens on property of a Person existing at the time such Person is merged with or
into or consolidated with the Company or any Restricted Subsidiary of the Company, provided
that such Liens were in existence prior to the contemplation of such merger or consolidation
and do not extend to any assets other than those of the Person merged into or consolidated
with the Company or the Restricted Subsidiary;

     (4) Liens on property existing at the time of acquisition of the property by the
Company or any Restricted Subsidiary of the Company, provided that such Liens were in
existence prior to the contemplation of such acquisition;

     (5) any interest or title of a lessor to the property subject to a Capital Lease
Obligation;

20

 

     (6) Liens on any property or asset acquired, constructed or improved by the Company or
any of its Restricted Subsidiaries (a “Purchase Money Lien”), which (a) are in favor of the
seller of such property or assets, in favor of the Person developing, constructing,
repairing or improving such asset or property, or in favor of the Person that provided the
funding for the acquisition, development, construction, repair or improvement cost, as the
case may be, of such asset or property, (b) are created within 360 days after the
acquisition, development, construction, repair or improvement, (c) secure the purchase price
or development, construction, repair or improvement cost, as the case may be, of such asset
or property in an amount up to 100% of the fair market value (as determined by the Board of
Directors of the Company if such fair market value is $15.0 million or more) of such
acquisition, construction or improvement of such asset or property, and (d) are limited to
the asset or property so acquired, constructed or improved (including the proceeds thereof,
accessions thereto and upgrades thereof);

     (7) Liens existing on the date of this Indenture other than Liens securing the Credit
Facilities;

     (8) Liens to secure the performance of tenders, bids, statutory obligations, surety or
appeal bonds, government contracts, performance bonds or other obligations of a like nature
incurred in the ordinary course of business;

     (9) Liens on and pledges of the Equity Interests of any Unrestricted Subsidiary or any
Joint Venture owned by the Company or any Restricted Subsidiary of the Company to the extent
securing Non-Recourse Debt or other Indebtedness of such Unrestricted Subsidiary or Joint
Venture;

     (10) Liens on pipelines or pipeline facilities that arise by operation of law;

     (11) Liens arising under operating agreements, joint venture agreements, partnership
agreements, oil and gas leases, farmout agreements, division orders, contracts for sale,
transportation or exchange of crude oil and natural gas, unitization and pooling
declarations and agreements, area of mutual interest agreements and other agreements arising
in the ordinary course of business of the Company and its Restricted Subsidiaries that are
customary in the Permitted Business;

     (12) Liens upon specific items of inventory, receivables or other goods or proceeds of
the Company or any of its Restricted Subsidiaries securing such Person’s obligations in
respect of bankers’ acceptances or receivables securitizations issued or created for the
account of such Person to facilitate the purchase, shipment or storage of such inventory,
receivables or other goods or proceeds and permitted by Section 5.09;

     (13) Liens securing Obligations of the Issuers or any Guarantor under the Notes or the
Subsidiary Guarantees, as the case may be;

     (14) Liens securing any Indebtedness equally and ratably with all Obligations due under
the Notes or any Subsidiary Guarantee pursuant to a contractual covenant that limits Liens
in a manner substantially similar to Section 5.12;

21

 

     (15) Liens to secure performance of Hedging Contracts of the Company or any of
its Restricted Subsidiaries;

     (16) Liens incurred by the Company or any Restricted Subsidiary of the Company,
provided that, after giving effect to any such incurrence, the aggregate principal amount of
all Indebtedness then outstanding and secured by any Liens incurred pursuant to this clause
(16) does not exceed the greater of $60.0 million or 3.5% of the Company’s Consolidated Net
Tangible Assets; and

     (17) any Lien renewing, extending, refinancing or refunding a Lien permitted by clauses
(1) through (15) above, provided that (a) the principal amount of the Indebtedness secured
by such Lien is not increased (except by an amount equal to a reasonable premium or other
reasonable amount paid, and fees and expenses reasonably incurred, in connection therewith)
and (b) no assets encumbered by any such Lien other than the assets permitted to be
encumbered immediately prior to such renewal, extension, refinance or refund are encumbered
thereby.

     After termination of the covenants referred to in the first paragraph of Section 5.19, for
purposes of complying with Section 5.12, the Liens described in clauses (1) and (16) of this
definition of “Permitted Liens” will be Permitted Liens only to the extent those Liens secure
Indebtedness not exceeding, at the time of determination, 10% of the Consolidated Net Tangible
Assets of the Company. Once effective, this 10% limitation on Permitted Liens will continue to
apply during any later period in which the Notes do not have an Investment Grade Rating by both S&P
and Moody’s.

     “Permitted Refinancing Indebtedness” means any Indebtedness of the Company or any of its
Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to extend,
refinance, renew, replace, defease or refund other Indebtedness of the Company or any of its
Restricted Subsidiaries (other than intercompany Indebtedness); provided that:

     (1) the principal amount of such Permitted Refinancing Indebtedness does not exceed the
principal amount of the Indebtedness being extended, refinanced, renewed, replaced, defeased
or refunded (plus all accrued interest on the Indebtedness and the amount of all expenses
and premiums incurred in connection therewith);

     (2) such Permitted Refinancing Indebtedness has a final maturity date later than the
final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than
the Weighted Average Life to Maturity of, the Indebtedness being extended, refinanced,
renewed, replaced, defeased or refunded;

     (3) if the Indebtedness being extended, refinanced, renewed, replaced, defeased or
refunded is subordinated in right of payment to the Notes or the Subsidiary Guarantees, such
Permitted Refinancing Indebtedness is subordinated in right of payment to the Notes or the
Subsidiary Guarantees on terms at least as favorable to the Noteholders as those contained
in the documentation governing the Indebtedness being extended, refinanced, renewed,
replaced, defeased or refunded; and

22

 

     (4) such Indebtedness is not incurred (other than by way of a guarantee) by a
Restricted Subsidiary of the Company if the Company is the issuer or primary obligor on the
Indebtedness being extended, refinanced, renewed, replaced, defeased or refunded.

     Notwithstanding the preceding, any Indebtedness incurred under Credit Facilities pursuant to
Section 5.09 shall be subject only to the refinancing provision in the definition of Credit
Facilities and not pursuant to the requirements set forth in the definition of Permitted
Refinancing Indebtedness.

     “Person” means any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization, limited liability company or government or
other entity.

     “Prospectus” means the prospectus of the Issuers dated March 22, 2011 relating to the offering
of the Initial Notes.

     “Rating Category” means:

     (1) with respect to S&P, any of the following categories: AAA, AA, A, BBB, BB, B, CCC,
CC, C and D (or equivalent successor categories); and

     (2) with respect to Moody’s, any of the following categories: Aaa, Aa, A, Baa, Ba, B,
Caa, Ca, C and D (or equivalent successor categories).

     “Rating Decline” means a decrease in the rating of the Notes by either Moody’s or S&P by one
or more gradations (including gradations within Rating Categories as well as between Rating
Categories). In determining whether the rating of the Notes has decreased by one or more
gradations, gradations within Rating Categories, namely + or — for S&P, and 1, 2, and 3 for
Moody’s, will be taken into account; for example, in the case of S&P, a rating decline either from
BB+ to BB or BB- to B+ will constitute a decrease of one gradation.

     “Reporting Default” means a Default described in Section 7.01(d).

     “Responsible Officer,” when used with respect to the Trustee, means any officer within the
corporate trust department of the Trustee having direct responsibility for the administration of
this Indenture.

     “Restricted Investment” means an Investment other than a Permitted Investment.

     “Restricted Subsidiary” of a Person means any Subsidiary of the referent Person that is not an
Unrestricted Subsidiary. Notwithstanding anything in this Indenture to the contrary, Finance Corp.
shall be a Restricted Subsidiary of the Company.

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.,
or any successor to the rating agency business thereof.

     “Sale and Leaseback Transaction” means an arrangement relating to property owned by the
Company or a Restricted Subsidiary on the Issue Date or thereafter acquired by the Company

23

 

or a Restricted Subsidiary whereby the Company or a Restricted Subsidiary transfers such
property to a Person and the Company or a Restricted Subsidiary leases it from such Person.

     “SEC” or “Commission” means the Securities and Exchange Commission.

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

     “Senior Debt” means

     (1) all Indebtedness of the Company or any of its Restricted Subsidiaries outstanding
under Credit Facilities and all obligations under Hedging Contracts with respect thereto;

     (2) any other Indebtedness of the Company or any of its Restricted Subsidiaries
permitted to be incurred under the terms of this Indenture, unless the instrument under
which such Indebtedness is incurred expressly provides that it is on a parity with or
subordinated in right of payment to the Notes or any Subsidiary Guarantee; and

     (3) all Obligations with respect to the items listed in the preceding clauses (1) and
(2).

     Notwithstanding anything to the contrary in the preceding sentence, Senior Debt will not
include:

	 	(a)	 	any intercompany Indebtedness of the Company or any of its Restricted
Subsidiaries to the Company or any of its Affiliates; or
	 
	 	(b)	 	any Indebtedness that is incurred in violation of this Indenture.

For the avoidance of doubt, “Senior Debt” will not include any trade payables or taxes owed or
owing by the Company or any Restricted Subsidiary.

     “Significant Subsidiary” means any Subsidiary that would be a “significant subsidiary” as
defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as
such Regulation is in effect on the date of this Indenture.

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

     “Subsidiary” means, with respect to any specified Person:

     (1) any corporation, association or other business entity (other than a partnership or
limited liability company) of which more than 50% of the total voting power of Voting Stock
is at the time owned or controlled, directly or indirectly, by that

24

 

Person or one or more of the other Subsidiaries of that Person (or a combination
thereof); and

     (2) any partnership (whether general or limited) or limited liability company (a) the
sole general partner or member of which is such Person or a Subsidiary of such Person, or
(b) if there is more than a single general partner or member, either (x) the only managing
general partners or managing members of which are such Person or one or more Subsidiaries of
such Person (or any combination thereof) or (y) such Person owns or controls, directly or
indirectly, a majority of the outstanding general partner interests, member interests or
other Voting Stock of such partnership or limited liability company, respectively, plus in
the case of both subclauses (x) and (y) of this clause (b) such Person consolidates the
financial results of such partnership or limited liability company with its own financial
results in accordance with GAAP.

     “Subsidiary Guarantees” means the joint and several guarantees issued by all of the Guarantors
pursuant to Article 11 hereof.

     “TIA” means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) and the rules and
regulations thereunder, as in effect on the date on which this Indenture is qualified under the TIA
(except as provided in Section 10.01(i) and 10.03 hereof).

     “Treasury Rate” means the yield to maturity at the time of computation of United States
Treasury securities with a constant maturity (as compiled and published in the most recent Federal
Reserve Statistical Release H.15(519) which has become publicly available at least two Business
Days prior to the date fixed for redemption (or, if such Statistical Release is no longer
published, any publicly available source of similar market data)) most nearly equal to the period
from the redemption date to April 1, 2016; provided, however, that if such period is not equal to
the constant maturity of a United States Treasury security for which a weekly average yield is
given, the Company shall obtain the Treasury Rate by linear interpolation (calculated to the
nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities
for which such yields are given, except that if the period from the redemption date to April 1,
2016 is less than one year, the weekly average yield on actually traded United States Treasury
securities adjusted to a constant maturity of one year shall be used. The Company will (a)
calculate the Treasury Rate on the second Business Day preceding the applicable redemption date and
(b) prior to such redemption date file with the Trustee an Officers’ Certificate setting forth the
Make Whole Premium and the Treasury Rate and showing the calculation of each in reasonable detail.

     “Trustee” means the party named as such above until a successor replaces it in accordance with
the applicable provisions of this Indenture and thereafter means the successor serving hereunder.

     “2006 Indenture” means the Indenture, dated as of February 7, 2006, relating to the 8.125%
Senior Notes due 2016 of the Issuers, as amended or supplemented from time to time.

     “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to
time.

25

 

     “Unrestricted Subsidiary” means any Subsidiary of the Company (other than Finance Corp.) that
is designated by the Board of Directors of the Company as an Unrestricted Subsidiary pursuant to a
Board Resolution, but only to the extent that such Subsidiary:

     (1) except to the extent permitted by subclause (2)(b) of the definition of “Permitted
Business Investments,” has no Indebtedness other than Non-Recourse Debt owing to any Person
other than the Company or any of its Restricted Subsidiaries;

     (2) is not party to any agreement, contract, arrangement or understanding with the
Company or any Restricted Subsidiary of the Company unless the terms of any such agreement,
contract, arrangement or understanding are no less favorable to the Company or such
Restricted Subsidiary than those that might be obtained at the time from Persons who are not
Affiliates of the Company;

     (3) is a Person with respect to which neither the Company nor any of its Restricted
Subsidiaries has any direct or indirect obligation (a) to subscribe for additional Equity
Interests or (b) to maintain or preserve such Person’s financial condition or to cause such
Person to achieve any specified levels of operating results; and

     (4) has not guaranteed or otherwise directly or indirectly provided credit support for
any Indebtedness of the Company or any of its Restricted Subsidiaries.

     Any designation of a Subsidiary of the Company as an Unrestricted Subsidiary will be evidenced
to the Trustee by filing with the Trustee a Board Resolution giving effect to such designation and
an Officers’ Certificate certifying that such designation complied with the preceding conditions
and was permitted by Section 5.07. If, at any time, any Unrestricted Subsidiary would fail to meet
the preceding requirements as an Unrestricted Subsidiary, it will thereafter cease to be an
Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary will
be deemed to be incurred by a Restricted Subsidiary of the Company as of such date and, if such
Indebtedness is not permitted to be incurred as of such date under Section 5.09, the Company will
be in default of such covenant.

     All Subsidiaries of an Unrestricted Subsidiary shall also be Unrestricted Subsidiaries.

     “Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at
the time entitled (without regard to the occurrence of any contingency) to vote in the election of
the Board of Directors of such Person.

     “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the
number of years obtained by dividing:

     (1) the sum of the products obtained by multiplying (a) the amount of each then
remaining installment, sinking fund, serial maturity or other required payments of
principal, including payment at final maturity, in respect of the Indebtedness, by (b) the
number of years (calculated to the nearest one-twelfth) that will elapse between such date
and the making of such payment; by

     (2) the then outstanding principal amount of such Indebtedness.

26

 

Section 2.02. Other Definitions.

	 	 	 	 	 
	Term	 	Defined in Section
	“Additional Notes:
	 	Recitals
	“Affiliate Transaction”
	 	 	5.11	 
	“Asset Sale Offer”
	 	 	4.09	 
	“Change of Control Offer”
	 	 	5.15	 
	“Change of Control Payment”
	 	 	5.15	 
	“Change of Control Settlement Date”
	 	 	5.15	 
	“Covenant Defeasance”
	 	 	9.03	 
	“Discharge”
	 	 	9.08	 
	“DTC”
	 	 	3.06	 
	“Event of Default”
	 	 	7.01	 
	“Excess Proceeds”
	 	 	5.10	 
	“Incremental Funds”
	 	 	5.07	 
	“incur”
	 	 	5.09	 
	“Initial Notes”
	 	Recitals
	“Legal Defeasance”
	 	 	9.02	 
	“Notes”
	 	Recitals
	“Offer Amount”
	 	 	4.09	 
	“Offer Period”
	 	 	4.09	 
	“Paying Agent”
	 	 	3.06	 
	“Payment Default”
	 	 	7.01	 
	“Permitted Debt”
	 	 	5.09	 
	“Regular Record Date
	 	 	3.03	 
	“Registrar”
	 	 	3.06	 
	“Restricted Payments”
	 	 	5.07	 
	“Settlement Date”
	 	 	4.09	 
	“Termination Date”
	 	 	4.09	 

Section 2.03. Incorporation by Reference of Trust Indenture Act.

     Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture. Any terms incorporated in this Indenture that are
defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under the
TIA have the meanings so assigned to them.

Section 2.04. Rules of Construction.

     Unless the context otherwise requires:

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

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

     (3) “or” is not exclusive;

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

     (5) provisions apply to successive events and transactions;

     (6) references to sections of or rules under the Securities Act or the Exchange Act
shall be deemed to include substitute, replacement or successor sections or rules adopted by
the SEC from time to time; and

     (7) “herein,” “hereof” and other words of similar import refer to this Indenture as a
whole (as amended or supplemented from time to time) and not to any particular Article,
Section or other subdivision.

ARTICLE 3

THE NOTES

Section 3.01. Form and Dating.

     The Notes and the Trustee’s certificate of authentication shall be in substantially the form
set forth in Exhibit A hereto, and the notations of Guarantee shall be in substantially the form
set forth in Exhibit B hereto, which are herein incorporated in and expressly made a part of this
Indenture. The Notes may have such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture, and may have such letters, numbers or
other marks of identification and such legends or endorsements placed thereon as may be required to
comply with the rules of any securities exchange or Depository therefor or as may, consistently
herewith, be determined by the Officers executing such Notes as evidenced by their execution
thereof.

     The terms and provisions contained in the Notes (including the notations of Guarantees) shall
constitute, and are hereby expressly made, a part of this Indenture, and the Issuers, the
Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to
such terms and provisions and to be bound thereby. However, to the extent any provision of any
Note conflicts with the express provisions of this Indenture, the provisions of this Indenture
shall govern and be controlling (to the extent permitted by law).

     The certificated Notes 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 Notes, as
evidenced by their execution of such Notes.

     The Notes shall be issued initially in the form of a Global Note, which shall be deposited
with the Trustee, as Notes Custodian. The aggregate principal amount of any Global Note may from
time to time be increased or decreased by adjustments made on the schedule attached to such Global
Note or on other records of the Trustee, acting as Notes Custodian.

Section 3.02. Form of Legend for Global Notes.

     Every Global Note authenticated and delivered under this Indenture shall bear a legend in
substantially the following form:

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THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN
WHOLE OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITORY OR A NOMINEE THEREOF, EXCEPT IN
THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE ISSUERS OR THEIR AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

Section 3.03. Title and Terms.

     The Notes shall be titled the “7.125% Senior Notes due 2021.” The Trustee shall authenticate
the Notes to be authenticated and delivered under this Supplemental Indenture on the Issue Date in
an aggregate amount equal to $360,000,000, upon delivery of an Issuer Order.

     The Notes will mature on April 1, 2021. Interest on the Notes will accrue at the rate of
7.125% per annum and will be payable semiannually in cash on each Interest Payment Date to the
Persons who are registered Holders of Notes at the close of business on the March 15 and September
15 (the “Regular Record Date”) immediately preceding the applicable Interest Payment Date. Interest
on the Notes will accrue from the most recent date to which interest has been paid or, if no
interest has been paid, from and including the date of issuance to but excluding the actual
Interest Payment Date. If an Interest Payment Date falls on a day that is not a Business Day, the
interest payment to be made on such Interest Payment Date will be made on the next succeeding
Business Day with the same force and effect as if made on such Interest Payment Date, and no
additional interest will accrue as a result of such delayed payment.

     The Notes shall be redeemable as provided in Article 4 and subject to Legal Defeasance and
Covenant Defeasance as provided in Article 9. The Notes shall have such other terms as are
indicated in Exhibit A.

Section 3.04. Denominations.

     The Notes shall be issuable only in fully registered form without coupons and only in
denominations of $2,000 and any integral multiple of $1,000 in excess thereof.

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Section 3.05. Execution and Authentication.

     An Officer shall sign the Notes on behalf of each Issuer by manual or facsimile signature.

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

     A Note shall not be valid until an authorized signatory of the Trustee manually signs the
certificate of authentication on the Note. The signature shall be conclusive evidence that the
Note has been authenticated under this Indenture.

     The aggregate principal amount of Notes which may be authenticated under this Indenture is
unlimited. The Issuers may, subject to Section 5.09 and Applicable Law, issue Additional Notes
under this Indenture from time to time after the Issue Date, upon delivery of an Issuer Order to
the Trustee specifying the aggregate principal amount of Additional Notes to be issued and
authenticated and the date of issue thereof. The Notes (including any Additional Notes
subsequently issued) shall be treated as a single class for all purposes under this Indenture,
including, without limitation, for waivers, amendments, redemptions and offers to purchase.

     Each Note shall be dated the date of its authentication.

     No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for
any purpose unless there appears on such Note a certificate of authentication substantially in the
form provided for in Exhibit A, signed manually in the name of the Trustee by an authorized
signatory, and such certificate upon any Note shall be conclusive evidence, and the only evidence,
that such Note has been duly authenticated and delivered hereunder. Notwithstanding the foregoing,
if any Note shall have been authenticated and delivered hereunder but never issued and sold by the
Issuers, and the Issuers shall deliver such Note to the Trustee for cancellation as provided in
Section 3.15, for all purposes of this Indenture such Note shall be deemed never to have been
authenticated and delivered hereunder and shall never be entitled to the benefits of this
Indenture.

Section 3.06. Registrar and Paying Agent.

     The Issuers shall maintain an office or agency in the continental United States where Notes
may be presented for registration of transfer or for exchange (the “Registrar”) and an office or
agency in New York, New York where Notes may be presented for payment (the “Paying Agent”). The
Registrar shall keep a register of the Notes and of their transfer and exchange. The Issuers may
have one or more co-registrars and one or more additional paying agents. The term “Registrar”
includes any co-registrar, and the term “Paying Agent” includes any additional paying agent. The
Issuers may change any Paying Agent or Registrar without prior notice to any Holder. The Issuers
shall notify the Trustee in writing of the name and address of any Agent not a party to this
Indenture. If the Issuers fail to appoint or maintain another entity as Registrar or Paying Agent,
the Trustee shall act as such and shall be entitled to additional compensation for such service
pursuant to Section 8.07. The Company or any of its Subsidiaries may act as Paying Agent or
Registrar.

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     The Issuers initially appoint The Depository Trust Company (“DTC”) to act as Depository with
respect to the Global Notes.

     The Issuers initially appoint the Trustee to act as the Registrar and Paying Agent at the
Corporate Trust Office. If the Trustee is no longer the Registrar and Paying Agent, the Issuers
shall provide the Trustee with access to inspect the Note register at all times and with copies of
the Note register.

     Upon surrender for registration of transfer of any Note at the office of the Registrar, the
Issuers shall execute and the Trustee shall authenticate and deliver, in the name of the designated
transferee or transferees, one or more new Notes, of any authorized denominations and of like tenor
and aggregate principal amount.

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

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

     No service charge shall be made for any registration of transfer or exchange of Notes, but the
Issuers may require payment of a sum sufficient to cover any transfer tax or other governmental
taxes and fees that may be imposed by law or this Indenture in connection with any registration of
transfer or exchange of Notes.

     If the Notes are to be redeemed in part, the Issuers shall not be required (A) to register the
transfer of or exchange any Notes during a period of 15 days before a selection of Notes for
redemption under Section 4.02, or (B) to register the transfer of or exchange any Note so selected
for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in
part. Further, the Issuers shall not be required to register the transfer of or exchange any Notes
between a Regular Record Date and the next succeeding Interest Payment Date.

     The provisions of clauses (a) through (d) below shall apply only to Global Notes:

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

          (b) Notwithstanding any other provision in this Indenture, no Global Note may be exchanged in
whole or in part for Notes registered, and no transfer of a Global Note in whole or in part may be
registered, in the name of any Person other than the Depository for such Global Note or a nominee
thereof, unless (A) such Depository (i) has notified the Issuers that it is no longer willing or
able to discharge its responsibilities properly as Depository for such Global Note or (ii) has
ceased to be a clearing agency registered under the Exchange Act, and in either case the Issuers
have not appointed a qualified successor within 90 days, (B) an Event of Default

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has occurred and is continuing and the Depository has notified the Issuers and the Trustee of
its desire to exchange such Global Note for Certificated Notes or (C) subject to the Depository’s
rules, the Issuers, at their option, have elected to terminate the book-entry system through the
Depository.

          (c) Subject to clause (b) above, any exchange of a Global Note for other Notes may be made in
whole or in part, and all Notes issued in exchange for a Global Note or any portion thereof shall
be registered in such names as the Depository for such Global Note shall direct.

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

Section 3.07. Paying Agent to Hold Money in Trust.

     Prior to 11:00 a.m. New York City time, on each due date of the principal and interest on any
Note, an Issuer shall deposit with the Paying Agent a sum sufficient to pay such principal and
interest when so becoming due. The Issuers shall require each Paying Agent (other than the
Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of
Noteholders or the Trustee all money held by the Paying Agent for the payment of principal of or
interest on the Notes and shall notify the Trustee in writing of any default by the Issuers in
making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall segregate
the money held by it as Paying Agent and hold it as a separate trust fund. The Issuers at any time
may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds
disbursed by the Paying Agent. Upon complying with this Section, the Paying Agent shall have no
further liability for the money delivered to the Trustee.

Section 3.08. Noteholder Lists.

     The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of Noteholders. If the Trustee is not the
Registrar, the Issuers shall furnish to the Trustee, in writing at least five Business Days before
each Interest Payment Date and at such other times as the Trustee may request in writing, a list in
such form and as of such date as the Trustee may reasonably require of the names and addresses of
Noteholders and the principal amounts and number of Notes.

Section 3.09. Replacement Notes.

     If a mutilated Note is surrendered to the Registrar or if the Holder of a Note claims that the
Note has been lost, destroyed or wrongfully taken, the Issuers shall issue and the Trustee shall
authenticate a replacement Note if the requirements of Section 8-405 of the Uniform Commercial Code
are met and the Holder satisfies any other reasonable requirements of the Trustee. If required by
the Trustee or the Issuers, such Holder shall furnish an indemnity bond sufficient in the judgment
of the Issuers and the Trustee to protect the Issuers, the Trustee, the Paying Agent and the
Registrar from any loss which any of them may suffer if a Note is

32

 

replaced. The Issuers and the Trustee may charge the Holder for their expenses in replacing a
Note. In the event any such Note shall have matured, instead of issuing a new Note, the Issuers
may direct the Trustee to pay the same without surrender thereof upon the Holder furnishing the
Issuers and the Trustee with indemnity satisfactory to them and complying with such other
reasonable regulations as the Issuers may prescribe and paying such reasonable expenses as the
Issuer and the Trustee may incur in connection therewith.

     Every replacement Note is an additional obligation of the Issuers.

Section 3.10. Outstanding Notes.

     Notes outstanding at any time are all Notes authenticated by the Trustee except for those
canceled by it, those delivered to it for cancellation and those described in this Section as not
outstanding. Except as otherwise provided in TIA §316(a), a Note does not cease to be outstanding
because the Company or an Affiliate of the Company holds the Note.

     If a Note is replaced pursuant to Section 3.07, it ceases to be outstanding unless the
Trustee, any provider of an indemnity bond and the Issuers receive proof satisfactory to them that
the replaced Note is held by a protected purchaser.

     If the Paying Agent segregates and holds in trust, in accordance with this Indenture, by 11:00
a.m. New York time, on a redemption date or other maturity date money sufficient to pay all
principal, premium, if any, and interest payable on that date with respect to the Notes (or
portions thereof) to be redeemed or maturing, as the case may be, then on and after that date such
Notes (or portions thereof) cease to be outstanding and interest on them shall cease to accrue.

Section 3.11. Treasury Notes.

     In determining whether the Holders of the required principal amount of Notes have concurred in
any direction, waiver or consent, Notes owned by an Issuer, by any Guarantor or by any Person
directly or indirectly controlling or controlled by or under direct or indirect common control with
either of the Issuers or any Guarantor, shall be considered as though not outstanding, except that
for the purposes of determining whether the Trustee shall be protected in relying on any such
direction, waiver or consent, only Notes that a Responsible Officer of the Trustee actually knows
are so owned shall be so disregarded.

Section 3.12. Payment of Interest; Interest Rights Preserved.

     If a Holder has given wire transfer instructions to the Issuers, the Issuers will make all
payments of principal of, premium, if any, and interest on the Notes in accordance with those
instructions. All other payments in respect of the Notes shall be made at the office or agency of
the Paying Agent in New York, New York; provided that the Issuers may, at their option, pay
interest on the Notes by check mailed to the Holders at their registered address as it appears in
the Note register.

     The Company shall pay principal of, premium, if any, and interest on the Global Notes
registered in the name of or held by DTC or its nominee in immediately available funds to DTC or
its nominee, as the case may be, as the registered Holder of such Global Notes.

33

 

     Interest on any Note 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 Note is registered at the
close of business on the Regular Record Date for such interest.

     If either of the Issuers or any Guarantor defaults in a payment of interest on the Notes, it
or they (to the extent of their obligations under the Subsidiary Guarantees) shall pay the
defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the
defaulted interest, to the Persons who are Holders on a subsequent special record date, in each
case at the rate provided in the Notes and in Section 3.03 hereof. The Issuers shall notify the
Trustee in writing of the amount of defaulted interest proposed to be paid on each Note, the
special record date and the date of the proposed payment. The Issuers shall fix or cause to be
fixed each such special record date and payment date, provided that no such special record date
shall be less than 10 days prior to the related payment date for such defaulted interest. At least
15 days before the special record date, the Issuers (or, upon the written request of the Issuers,
the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed to
Holders a notice that states the special record date, the related payment date and the amount of
such interest to be paid.

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

Section 3.13. Persons Deemed Owners.

     Prior to due presentment of a Note for registration of transfer, the Issuers, the Guarantors,
the Trustee and any agent of the Issuers or the Trustee may treat the Person in whose name such
Note is registered as the owner of such Note for the purpose of receiving payment of principal of,
and any premium and (subject to Section 3.12) any interest on, such Note and for all other purposes
whatsoever, whether or not such Note be overdue, and none of the Issuers, the Guarantors, the
Trustee nor any of their respective agents shall be affected by notice to the contrary.

     None of the Issuers, the Guarantors, the Trustee, nor any of their respective agents will have
any responsibility or liability for any aspect of the records relating to, or payments made on
account of, beneficial ownership interests of a Note or for maintaining, supervising or reviewing
any records relating to such beneficial ownership interests.

Section 3.14. Temporary Notes.

     Until definitive Notes are ready for delivery, the Issuers may prepare and the Trustee shall
authenticate temporary Notes. Temporary Notes shall be substantially in the form of definitive
Notes but may have variations that the Issuers consider appropriate for temporary Notes. Without
unreasonable delay, the Issuers shall prepare and the Trustee shall authenticate definitive Notes
and deliver them in exchange for temporary Notes.

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Section 3.15. Cancellation.

     An Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and
the Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee and no one else shall cancel (subject to the record
retention requirements of the Exchange Act) all Notes surrendered for registration of transfer,
exchange, payment or cancellation. Upon written request, the Trustee will deliver a certificate of
such cancellation to the Issuers unless the Issuers direct the Trustee to deliver canceled Notes to
the Issuers instead. The Issuers may not issue new Notes to replace Notes they have redeemed, paid
or delivered to the Trustee for cancellation.

Section 3.16. Computation of Interest.

     Interest on the Notes shall be computed on the basis of a 360-day year of twelve 30-day
months.

Section 3.17. Global Securities.

     Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not
taken by the Depository.

Section 3.18. CUSIP Numbers.

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

ARTICLE 4

REDEMPTION AND PREPAYMENT

Section 4.01. Notices to Trustee.

     If the Issuers elect to redeem Notes pursuant to the optional redemption provisions of Section
4.07 hereof, they shall furnish to the Trustee, at least five Business Days (unless a shorter
period shall be agreeable to the Trustee) before the date of giving notice of the redemption
pursuant to Section 4.03, an Officers’ Certificate setting forth (i) the clause of Section 4.07
pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the principal amount
of Notes to be redeemed, (iv) the redemption price, if then determinable, and (v) whether it
requests the Trustee to give notice of such redemption. Any such notice may be cancelled at any
time prior to the mailing of notice of such redemption to any Holder and shall thereby be void and
of no effect.

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Section 4.02. Selection of Notes to Be Redeemed.

     If less than all of the Notes are to be redeemed at any time, the Trustee shall select the
Notes to be redeemed among the Holders of the Notes as follows: (1) if the Notes are listed on any
national securities exchange, in compliance with the requirements of the principal national
securities exchange on which the Notes are listed; or (2) if the Notes are not listed on any
national securities exchange, on a pro rata basis (except that Notes represented by a Global Note
will be redeemed by such method as DTC may require). In the event of partial redemption other than
on a pro rata basis, the particular Notes to be redeemed shall be selected, not less than five (5)
Business Days (unless a shorter period shall be agreeable to the Trustee) prior to the giving of
notice of the redemption pursuant to Section 4.03, by the Trustee from the outstanding Notes not
previously called for redemption.

     The Trustee shall promptly notify the Issuers in writing of the Notes selected for redemption
and, in the case of any Note selected for partial redemption, the principal amount thereof to be
redeemed. Notes and portions of Notes selected shall be in amounts of $2,000 or whole multiples of
$1,000 in excess thereof; except that if all of the Notes of a Holder are to be redeemed, the
entire outstanding amount of Notes held by such Holder, even if less than $2,000 or not a multiple
of $1,000, shall be redeemed. Provisions of this Indenture that apply to Notes called for
redemption also apply to portions of Notes called for redemption.

     The provisions of the two preceding paragraphs of this Section 4.02 shall not apply with
respect to any redemption affecting only a Global Note, whether such Global Note is to be redeemed
in whole or in part. In case of any such redemption in part, the unredeemed portion of the
principal amount of the Global Note shall be in an authorized denomination.

Section 4.03. Notice of Redemption.

     Subject to the provisions of Section 4.09 hereof, at least 30 days but not more than 60 days
before a redemption date, except that redemption notices may be mailed more than 60 days prior to a
redemption date if the notice is issued in connection with a Legal Defeasance, Covenant Defeasance
or Discharge, the Issuers shall mail or cause to be mailed, by first class mail, a notice of
redemption to each Holder whose Notes are to be redeemed at its registered address.

     The notice shall identify the Notes to be redeemed and shall state:

     (a) the redemption date;

     (b) the redemption price or, if the redemption price is not then determinable, the
manner in which it is to be determined;

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

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

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

     (f) that, unless the Issuers default in making such redemption payment, interest on
Notes called for redemption will cease to accrue on and after the redemption date and the
only remaining right of the Holders of such Notes is to receive payment of the redemption
price upon surrender to the Paying Agent of the Notes redeemed;

     (g) the paragraph of the Notes and/or Section of this Indenture pursuant to which the
Notes called for redemption are being redeemed; and

     (h) that no representation is made as to the correctness or accuracy of the CUSIP or
ISIN number, if any, listed in such notice or printed on the Notes.

     If any of the Notes to be redeemed is in the form of a Global Note, then the Issuers shall
modify such notice to the extent necessary to accord with the procedures of the Depository
applicable to redemption.

     At the Issuers’ request, the Trustee shall give the notice of optional redemption in the
Issuers’ names and at their expense; provided, however, that the Issuers shall have delivered to
the Trustee, as provided in Section 4.01, an Officers’ Certificate requesting that the Trustee give
such notice and setting forth the information to be stated in such notice as provided in the second
preceding paragraph.

Section 4.04. Effect of Notice of Redemption.

     Once notice of redemption is mailed in accordance with Section 4.03 hereof, Notes called for
redemption become irrevocably due and payable on the redemption date at the redemption price. A
notice of redemption may not be conditional, except that any redemption described in Section
4.07(b) may, at the Issuers’ discretion, be subject to completion of the related Equity Offering.
If mailed in the manner provided for in Section 4.03, the notice of redemption shall be
conclusively presumed to have been given whether or not a Holder receives such notice. Failure to
give timely notice or any defect in the notice shall not affect the validity of the redemption.

Section 4.05. Deposit of Redemption Price.

     Prior to 11:00 a.m., New York City time, on the redemption date, the Issuers shall deposit
with the Paying Agent (or, if the Company or a Subsidiary thereof is acting as Paying Agent,
segregate and hold in trust as provided in Section 3.07) money sufficient in same day funds to pay
the redemption price of and accrued interest, if any, on all Notes to be redeemed on that date.
The Paying Agent shall promptly return to the Issuers any money deposited with the Paying Agent by
an Issuer in excess of the amounts necessary to pay the redemption price of and accrued interest,
if any, on all Notes to be redeemed.

     If the Issuers comply with the provisions of the preceding paragraph, on and after the
redemption date, interest shall cease to accrue on the Notes or the portions of Notes called for
redemption whether or not such Notes are presented for payment, and the only remaining right of the
Holders of such Notes shall be to receive payment of the redemption price upon surrender to

37

 

the Paying Agent of the Notes redeemed. If any Note called for redemption shall not be so
paid upon surrender for redemption because of the failure of an Issuer to comply with the preceding
paragraph, interest shall be paid on the unpaid principal, from the redemption date until such
principal is paid, and to the extent lawful, on any interest not paid on such unpaid principal, in
each case at the rate provided in the Notes and in Section 3.03 hereof.

Section 4.06. Notes Redeemed in Part.

     Upon surrender of a Note that is redeemed in part, the Issuers shall issue in the name of the
Holder and the Trustee shall authenticate for the Holder at the expense of the Issuers a new Note
equal in principal amount to the unredeemed portion of the Note surrendered.

Section 4.07. Optional Redemption.

     (a) Except as set forth in clauses (b), (c) and (d) of this Section 4.07, the Issuers shall
not have the option to redeem the Notes pursuant to this Section 4.07 prior to April 1,
2016. On or after April 1, 2016, the Issuers shall have the option to redeem the
Notes, in whole or in part at any time, at the redemption prices (expressed as percentages of
principal amount) set forth below, plus accrued and unpaid interest, if any, to the applicable
redemption date (subject to the right of Holders of record on the relevant record date to receive
interest due on an Interest Payment Date that is on or prior to the redemption date), if redeemed
during the twelve-month period beginning on April 1 of the years indicated below:

	 	 	 	 	 
	YEAR	 	PERCENTAGE
	2016
	 	 	103.563	%
	2017
	 	 	102.375	%
	2018
	 	 	101.188	%
	2019 and thereafter
	 	 	100.000	%

     (b) Notwithstanding the provisions of clause (a) of this Section 4.07, at any time prior to
April 1, 2014, the Issuers may on one or more occasions redeem up to 35% of the aggregate principal
amount of Notes (including any Additional Notes) issued under this Indenture at a redemption price
of 107.125% of the principal amount thereof, plus accrued and unpaid interest, if any, to the
redemption date (subject to the right of Holders of record on the relevant record date to receive
interest due on an Interest Payment Date that is on or prior to the redemption date), with the net
cash proceeds of one or more Equity Offerings, provided that:

     (1) at least 65% of the aggregate principal amount of Notes (including any Additional
Notes) issued under this Indenture remains outstanding immediately after the occurrence of
each such redemption (excluding any Notes held by the Company and its Subsidiaries); and

     (2) each such redemption occurs within 120 days of the date of the closing of each such
Equity Offering.

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     (c) Prior to April 1, 2016, the Issuers may redeem all or part of the Notes at a redemption
price equal to the sum of:

     (1) 100% of the principal amount thereof, plus

     (2) accrued and unpaid interest, if any, to the redemption date (subject to the right
of Holders of record on the relevant record date to receive interest due on an Interest
Payment Date that is on or prior to the redemption date), plus

     (3) the Make Whole Premium at the redemption date.

     (d) Following a Change of Control Offer, the Notes shall also be redeemable, at the Company’s
option, subject to the conditions and as provided in Section 5.15(7) hereof.

     (e) Any redemption pursuant to this Section 4.07 shall be made pursuant to the provisions of
Section 4.01 through Section 4.06 hereof.

Section 4.08. Mandatory Redemption.

     Except as set forth under Sections 5.10 and 5.15 hereof, neither of the Issuers shall be
required to make mandatory redemption or sinking fund payments with respect to the Notes or to
repurchase the Notes at the option of the Holders.

Section 4.09. Offer to Purchase by Application of Excess Proceeds.

     In the event that, pursuant to Section 5.10 hereof, the Company shall be required to commence
an offer to all Holders to purchase Notes (an “Asset Sale Offer”), it shall follow the procedures
specified below.

     The Asset Sale Offer shall remain open for a period of 20 Business Days following its
commencement and no longer, except to the extent that a longer period is required by Applicable Law
(the “Offer Period”). No later than five Business Days after the termination of the Offer Period
(the “Settlement Date”), the Company shall purchase and pay for the principal amount of Notes
required to be purchased pursuant to Section 5.10 hereof (the “Offer Amount”) or, if less than the
Offer Amount has been tendered, all Notes validly tendered in response to the Asset Sale Offer.
Payment for any Notes so purchased shall be made in the manner prescribed in the Notes.

     Upon the commencement of an Asset Sale Offer, the Company shall send, by first class mail, a
notice to each of the Holders, with a copy to the Trustee. The notice shall contain all
instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset
Sale Offer. The Asset Sale Offer shall be made to all Holders. The notice, which shall govern the
terms of the Asset Sale Offer, shall state:

     (a) that the Asset Sale Offer is being made pursuant to this Section 4.09 and Section
5.10 hereof and the length of time the Asset Sale Offer shall remain open, including the
time and date the Asset Sale Offer will terminate (the “Termination Date”);

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     (b) the Offer Amount and the purchase price;

     (c) that any Note not tendered or accepted for payment shall continue to accrue
interest;

     (d) that, unless the Company defaults in making such payment, any Note accepted for
payment pursuant to the Asset Sale Offer shall cease to accrue interest after the Settlement
Date;

     (e) that Holders electing to have a Note purchased pursuant to an Asset Sale Offer may
only elect to have all of such Note purchased and may not elect to have only a portion of
such Note purchased;

     (f) that Holders electing to have a Note purchased pursuant to any Asset Sale Offer
shall be required to surrender the Note, with the form entitled “Option of Holder to Elect
Purchase” on the reverse of the Note completed, to the Company or a Paying Agent at the
address specified in the notice, before the Termination Date;

     (g) that Holders shall be entitled to withdraw their election if the Company or the
Paying Agent, as the case may be, receives, prior to the Termination Date, a telegram,
facsimile transmission or letter setting forth the name of the Holder, the principal amount
of the Note the Holder delivered for purchase and a statement that such Holder is
withdrawing his election to have such Note purchased;

     (h) that, if the aggregate principal amount of Notes surrendered by Holders exceeds the
amount of Notes the Company is required to repurchase, the Trustee shall select the Notes to
be purchased on a pro rata basis (or, in the case of Notes represented by a Global Note, the
Trustee shall select Notes for purchase by such method as DTC may require, and in any case
with such adjustments as may be deemed appropriate by the Trustee so that only Notes in
denominations of $2,000, or integral multiples of $1,000 in excess thereof, shall be
purchased); and

     (i) that Holders whose Notes were purchased only in part shall be issued new Notes
equal in principal amount to the unpurchased portion of the Notes surrendered (or
transferred by book-entry transfer).

     If any of the Notes subject to an Asset Sale Offer is in the form of a Global Note, then the
Company shall modify such notice to the extent necessary to accord with the procedures of the
Depository applicable to repurchases.

     Promptly after the Termination Date, the Company shall, to the extent lawful, accept for
payment Notes or portions thereof tendered pursuant to the Asset Sale Offer in the aggregate
principal amount required by Section 5.10 hereof, and on or prior to the Settlement Date it shall
deliver to the Trustee an Officers’ Certificate stating that such Notes or portions thereof were
accepted for payment by the Company in accordance with the terms of this Section 4.09 and Section
5.10. Prior to 11:00 a.m., New York City time, on the Settlement Date, the Company or the Paying
Agent, as the case may be, shall mail or deliver to each tendering Holder an amount equal to the
purchase price of the Notes tendered by such Holder and accepted by the Company

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for purchase, and the Company shall issue a new Note, and the Trustee shall authenticate and
mail or deliver such new Note to such Holder, in a principal amount equal to any unpurchased
portion of the Note surrendered. Any Note not so accepted shall be promptly mailed or delivered by
the Company to the Holder thereof. The Company shall publicly announce the results of the Asset
Sale Offer on or before the Settlement Date.

ARTICLE 5

COVENANTS

Section 5.01. Payment of Notes.

     The Issuers shall pay or cause to be paid the principal of, premium, if any, and interest on
the Notes on the dates and in the manner provided in Section 3.03 and the Notes. Principal,
premium, if any, and interest shall be considered paid on the date due if the Paying Agent, if
other than the Company or a Subsidiary thereof, holds as of 11:00 a.m., New York City time, on the
due date money deposited by an Issuer or a Guarantor in immediately available funds and designated
for and sufficient to pay all principal, premium, if any, and interest then due.

     The Issuers shall pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal at the rate equal to the interest rate on the Notes to the
extent lawful; and they shall pay interest (including post-petition interest in any proceeding
under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable
grace period), at the same rate to the extent lawful.

Section 5.02. Maintenance of Office or Agency.

     The Issuers shall maintain an office or agency (which may be an office of the Trustee or an
affiliate of the Trustee) in New York, New York where Notes may be presented or surrendered for
payment and they shall maintain an office or agency in the continental United States (which may be
an office of the Trustee or an affiliate of the Trustee) where Notes may be surrendered for
registration of transfer or for exchange and where notices and demands to or upon the Issuers in
respect of the Notes and this Indenture may be served. The Issuers shall 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 Issuers 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.

     The Issuers may also from time to time designate one or more other offices or agencies where
the Notes may be presented or surrendered for any or all such purposes and may from time to time
rescind such designations. Further, if at any time there shall be no such office or agency in the
City of New York where the Notes may be presented or surrendered for payment, the Issuers shall
forthwith designate and maintain such an office or agency in the City of New York, in order that
the Notes shall at all times be payable in the City of New York. The Issuers shall give prompt
written notice to the Trustee of any such designation or rescission and of any change in the
location of any such other office or agency.

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     The Issuers hereby designate the Corporate Trust Office of the Trustee as one such office or
agency of the Company in accordance with Section 3.06.

Section 5.03. Reports.

     (a) Notwithstanding that the Company may not be subject to the reporting requirements of
Section 13 or 15(d) of the Exchange Act, so long as any Notes are outstanding, the Company will
file with the SEC for public availability within the time periods specified in the SEC’s rules and
regulations under the Exchange Act (unless the SEC will not accept such a filing) and, within five
Business Days of filing, or attempting to file, the same with the SEC, furnish to the Trustee and,
upon its prior request, to any of the Holders or Beneficial Owners of the Notes:

     (1) all quarterly and annual financial and other information with respect to the
Company and its Subsidiaries that would be required to be contained in a filing with the SEC
on Forms 10-Q and 10-K if the Company were required to file such forms, including a
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” and,
with respect to the annual information only, a report thereon by the Company’s certified
independent accountants; and

     (2) all current reports that would be required to be filed with the SEC on Form 8-K if
the Company were required to file such reports.

The Company shall at all times comply with TIA § 314(a).

     (b) If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries, then,
to the extent material, the quarterly and annual financial information required by paragraph (a) of
this Section 5.03 shall include a reasonably detailed presentation, either on the face of the
financial statements or in the footnotes to the financial statements and in Management’s Discussion
and Analysis of Financial Condition and Results of Operations, of the financial condition and
results of operations of the Company and its Restricted Subsidiaries separate from the financial
condition and results of operations of the Unrestricted Subsidiaries.

     (c) The availability of the foregoing information or reports on the SEC’s website will be
deemed to satisfy the foregoing delivery requirements.

     (d) Delivery of reports, information and documents to the Trustee under this Section is for
informational purposes only and the Trustee’s receipt of the foregoing shall not constitute
constructive notice of any information contained therein or determinable from information contained
therein.

Section 5.04. Compliance Certificate.

     (a) The Issuers shall deliver to the Trustee, within 90 days after the end of each fiscal year
of the Company ending after December 31, 2010, an Officers’ Certificate stating that a review of
the activities of the Company and its Restricted Subsidiaries during the preceding fiscal year has
been made under the supervision of the signing Officers with a view to determining whether the
Company has kept, observed, performed and fulfilled its obligations

42

 

under this Indenture, and further stating, as to each such Officer signing such certificate,
that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled
each and every covenant contained in this Indenture and is not in default in the performance or
observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or
Event of Default shall have occurred, describing all such Defaults or Events of Default of which he
or she may have knowledge and what action the Company is taking or proposes to take with respect
thereto) and that to the best of his or her knowledge no event has occurred and remains in
existence by reason of which payments of interest on the Notes are prohibited or if such event has
occurred, a description of the event and what action the Company is taking or proposes to take with
respect thereto.

     (b) The Issuers shall, so long as any of the Notes are outstanding, deliver to the Trustee,
forthwith upon any of their respective Officers becoming aware of any Default or Event of Default,
a written statement specifying such Default or Event of Default and what action the Company is
taking or proposes to take with respect thereto.

Section 5.05. Taxes.

     The Company shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency,
all material taxes, assessments, and governmental levies except such as are contested in good faith
and by appropriate proceedings or where the failure to effect such payment is not adverse in any
material respect to the Holders of the Notes.

Section 5.06. Stay, Extension and Usury Laws.

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

Section 5.07. Limitation on Restricted Payments.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or
indirectly:

     (1) declare or pay any dividend or make any other payment or distribution on account of
the Company’s or any of its Restricted Subsidiaries’ Equity Interests (including, without
limitation, any payment in connection with any merger or consolidation involving the Company
or any of its Restricted Subsidiaries) or to the direct or indirect holders of the Company’s
or any of its Restricted Subsidiaries’ Equity Interests in their capacity as such (other
than dividends or distributions payable in Equity Interests (other than Disqualified Stock)
of the Company or payable to the Company or a Restricted Subsidiary of the Company);

43

 

     (2) purchase, redeem or otherwise acquire or retire for value (including, without
limitation, in connection with any merger or consolidation involving the Company) any Equity
Interests of the Company or any direct or indirect parent of the Company;

     (3) make any payment on or with respect to, or purchase, redeem, defease or otherwise
acquire or retire for value any Indebtedness that is subordinated to the Notes or the
Subsidiary Guarantees (excluding any intercompany Indebtedness between or among the Company
and any of its Restricted Subsidiaries), except a payment of interest or principal at the
Stated Maturity thereof; or

     (4) make any Restricted Investment (all such payments and other actions set forth in
these clauses (1) through (4) above being collectively referred to as “Restricted
Payments”),

unless, at the time of and after giving effect to such Restricted Payment, no Default (except a
Reporting Default) or Event of Default has occurred and is continuing or would occur as a
consequence of such Restricted Payment and either:

     (1) if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full
fiscal quarters for which internal financial statements are available at the time of such
Restricted Payment is not less than 1.75 to 1.0, such Restricted Payment, together with the
aggregate amount of all other Restricted Payments made by the Company and its Restricted
Subsidiaries (excluding Restricted Payments permitted by clauses (2), (3), (4) and (5) of
the next succeeding paragraph) with respect to the quarter for which such Restricted Payment
is made, is less than the sum, without duplication, of:

     (a) Available Cash from Operating Surplus with respect to the Company’s
preceding fiscal quarter, plus

     (b) 100% of the aggregate net cash proceeds received by the Company (including
the fair market value of any Permitted Business or long-term assets that are used or
useful in a Permitted Business to the extent acquired in consideration of Equity
Interests of the Company (other than Disqualified Stock)) after the date of the 2006
Indenture as a contribution to its common equity capital or from the issue or sale
of Equity Interests of the Company (other than Disqualified Stock) or from the issue
or sale of convertible or exchangeable Disqualified Stock or convertible or
exchangeable debt securities of the Company that have been converted into or
exchanged for such Equity Interests (other than Equity Interests (or Disqualified
Stock or debt securities) sold to a Restricted Subsidiary of the Company), plus

     (c) to the extent that any Restricted Investment that was made after the date
of the 2006 Indenture is sold for cash or otherwise liquidated or repaid for cash,
the cash return of capital with respect to such Restricted Investment (less the cost
of disposition, if any), plus

44

 

     (d) the net reduction in Restricted Investments resulting from dividends,
repayments of loans or advances, or other transfers of assets in each case to the
Company or any of its Restricted Subsidiaries from any Person (including, without
limitation, Unrestricted Subsidiaries) or from redesignations of Unrestricted
Subsidiaries as Restricted Subsidiaries, to the extent such amounts have not been
included in Available Cash from Operating Surplus for any period commencing on or
after the date of the 2006 Indenture (items (b), (c) and (d) being referred to as
“Incremental Funds”), minus

     (e) the aggregate amount of Incremental Funds previously expended pursuant to
this clause (1) and clause (2) below; or

     (2) if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full
fiscal quarters for which internal financial statements are available at the time of such
Restricted Payment is less than 1.75 to 1.00, such Restricted Payment, together with the
aggregate amount of all other Restricted Payments made by the Company and its Restricted
Subsidiaries (excluding Restricted Payments permitted by clauses (2), (3), (4) and (5) of
the next succeeding paragraph) with respect to the quarter for which such Restricted Payment
is made (such Restricted Payments for purposes of this clause (2) meaning only distributions
on common units of the Company), is less than the sum, without duplication, of:

     (a) $45.0 million less the aggregate amount of all prior Restricted Payments
made by the Company and its Restricted Subsidiaries pursuant to this clause (2)(a)
since the date of this Indenture, plus

     (b) Incremental Funds to the extent not previously expended pursuant to this
clause (2) or clause (1) above.

     So long as no Default (except a Reporting Default) or Event of Default has occurred and is
continuing or would be caused thereby (except with respect to clause (1) below under which the
payment of a distribution or dividend is permitted), the preceding provisions will not prohibit:

     (1) the payment of any dividend or distribution within 60 days after the date of its
declaration, if at the date of declaration the payment would have complied with the
provisions of this Indenture;

     (2) the purchase, redemption, defeasance or other acquisition or retirement for value
of any subordinated Indebtedness of the Company or any Guarantor or of any Equity Interests
of the Company in exchange for, or out of the net cash proceeds of the substantially
concurrent (a) contribution (other than from a Restricted Subsidiary of the Company) to the
equity capital of the Company or (b) sale (other than to a Restricted Subsidiary of the
Company) of, Equity Interests of the Company (other than Disqualified Stock), with a sale
being deemed substantially concurrent if such purchase, redemption, defeasance or other
acquisition or retirement for value occurs not more than 120 days after such sale; provided,
however, that the amount of any such net cash proceeds that are

45

 

utilized for any such purchase, redemption, defeasance or other acquisition or
retirement for value will be excluded (or deducted, if included) from the calculation of
Available Cash from Operating Surplus and Incremental Funds;

     (3) the purchase, redemption, defeasance or other acquisition or retirement for value
of subordinated Indebtedness of the Company or any Guarantor with the net cash proceeds from
an incurrence of, or in exchange for, Permitted Refinancing Indebtedness;

     (4) the payment of any dividend or distribution by a Restricted Subsidiary of the
Company to the holders of its Equity Interests on a pro rata basis; or

     (5) the purchase, redemption or other acquisition or retirement for value of any Equity
Interests of the Company or any Restricted Subsidiary of the Company pursuant to any
director or employee equity subscription agreement or equity option agreement or other
employee benefit plan or to satisfy obligations under any Equity Interests appreciation
rights or option plan or similar arrangement; provided, however, that the aggregate price
paid for all such purchased, redeemed, acquired or retired Equity Interests may not exceed
$2.0 million in any calendar year, with any portion of such $2.0 million amount that is
unused in any calendar year to be carried forward to successive calendar years and added to
such amount.

     The amount of all Restricted Payments (other than cash) will be the fair market value on the
date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued
by the Company or such Restricted Subsidiary, as the case may be, pursuant to the Restricted
Payment. The fair market value of any assets or securities that are required to be valued by this
covenant will be determined, in the case of amounts under $15.0 million, by an officer of the
Company and, in the case of amounts over $15.0 million, by the Board of Directors of the Company,
whose determination shall be evidenced by a Board Resolution. Not later than the date of making
any Restricted Payment (excluding any Restricted Payment described in the preceding clause (2),
(3), (4) or (5)) the Company will deliver to the Trustee an Officers’ Certificate stating that such
Restricted Payment is permitted and setting forth the basis upon which the calculations required by
this Section 5.07 were computed. For purposes of determining compliance with this Section 5.07, in
the event that a Restricted Payment meets the criteria of more than one of the categories of
Restricted Payments described in the preceding clauses (1) — (5), the Company will be permitted to
classify (or later classify or reclassify in whole or in part in its sole discretion) such
Restricted Payment in any manner that complies with this Section 5.07.

Section 5.08. Limitation on Dividend and Other Payment Restrictions Affecting Subsidiaries.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or
indirectly, create or permit to exist or become effective any consensual encumbrance or restriction
on the ability of any Restricted Subsidiary to:

     (1) pay dividends or make any other distributions on its Capital Stock to the Company
or any of its Restricted Subsidiaries, or pay any Indebtedness or other obligations owed to
the Company or any of its Restricted Subsidiaries;

46

 

     (2) make loans or advances to the Company or any of its Restricted Subsidiaries; or

     (3) transfer any of its properties or assets to the Company or any of its Restricted
Subsidiaries.

     However, the preceding restrictions of this Section 5.08 will not apply to encumbrances or
restrictions existing under or by reason of:

     (1) agreements as in effect on the date of this Indenture and any amendments,
modifications, restatements, renewals, increases, supplements, refundings, replacements or
refinancings of those agreements or the Indebtedness to which they relate, provided that the
amendments, modifications, restatements, renewals, increases, supplements, refundings,
replacements or refinancings are no more restrictive, taken as a whole, with respect to such
dividend, distribution and other payment restrictions than those contained in those
agreements on the date of this Indenture;

     (2) this Indenture, the Notes and the Subsidiary Guarantees;

     (3) Applicable Law;

     (4) any instrument governing Indebtedness or Capital Stock of a Person acquired by the
Company or any of its Restricted Subsidiaries as in effect at the time of such acquisition,
which encumbrance or restriction is not applicable to any Person, or the properties or
assets of any Person, other than the Person, or the property or assets of the Person, so
acquired, provided that, in the case of Indebtedness, such Indebtedness was otherwise
permitted by the terms of this Indenture to be incurred;

     (5) customary non-assignment provisions in Hydrocarbon purchase and sale or exchange
agreements or similar operational agreements or in licenses or leases, in each case entered
into in the ordinary course of business and consistent with past practices;

     (6) Capital Lease Obligations, mortgage financings or purchase money obligations, in
each case for property acquired in the ordinary course of business that impose restrictions
on that property of the nature described in clause (3) of the preceding paragraph;

     (7) any agreement for the sale or other disposition of a Restricted Subsidiary of the
Company that restricts distributions by that Restricted Subsidiary pending its sale or other
disposition;

     (8) Permitted Refinancing Indebtedness, provided that the restrictions contained in the
agreements governing such Permitted Refinancing Indebtedness are not materially more
restrictive, taken as a whole, than those contained in the agreements governing the
Indebtedness being refinanced;

47

 

     (9) Liens securing Indebtedness otherwise permitted to be incurred under the provisions
of Section 5.12 that limit the right of the debtor to dispose of the assets subject to such
Liens;

     (10) provisions with respect to the disposition or distribution of assets or property
in joint venture agreements, asset sale agreements, stock sale agreements and other similar
agreements entered into in the ordinary course of business;

     (11) any agreement or instrument relating to any property or assets acquired after the
date of this Indenture, so long as such encumbrance or restriction relates only to the
property or assets so acquired and is not and was not created in anticipation of such
acquisitions;

     (12) restrictions on cash or other deposits or net worth imposed by customers under
contracts entered into in the ordinary course of business;

     (13) any instrument governing Indebtedness of an FERC Subsidiary, provided that such
Indebtedness was otherwise permitted by the terms of this Indenture to be incurred;

     (14) the issuance of preferred securities by a Restricted Subsidiary of the Company or
the payment of dividends thereon in accordance with the terms thereof; provided that
issuance of such preferred securities is permitted pursuant to Section 5.09 and the terms of
such preferred securities do not expressly restrict the ability of such Restricted
Subsidiary to pay dividends or make any other distributions on its Capital Stock (other than
requirements to pay dividends or liquidation preferences on such preferred securities prior
to paying any dividends or making any other distributions on such other Capital Stock);

     (15) with respect to any Foreign Subsidiary, any encumbrance or restriction contained
in the terms of any Indebtedness or any agreement pursuant to which such Indebtedness was
incurred if either (a) the encumbrance or restriction applies only in the event of a payment
default or a default with respect to a financial covenant in such Indebtedness or agreement
or (b) the Company determines that any such encumbrance or restriction will not materially
affect the Company’s ability to make principal or interest payments on the notes, as
determined in good faith by the Board of Directors of the Company, whose determination shall
be conclusive; and

     (16) any other agreement governing Indebtedness of the Company or any Guarantor that is
permitted to be incurred by Section 5.09; provided, however, that such encumbrances or
restrictions are not materially more restrictive, taken as a whole, than those contained in
the Credit Agreement as it exists on the date of this Indenture.

Section 5.09. Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or
indirectly, create, incur, issue, assume, guarantee or otherwise become directly or indirectly
liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness

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(including Acquired Debt), the Company will not issue any Disqualified Stock, and the Company
will not permit any of its Restricted Subsidiaries to issue any preferred securities; provided,
however, that the Company and any of its Restricted Subsidiaries may incur Indebtedness (including
Acquired Debt) or issue Disqualified Stock, and any Restricted Subsidiary may issue other preferred
securities, if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full
fiscal quarters for which internal financial statements are available immediately preceding the
date on which such additional Indebtedness is incurred or such Disqualified Stock or other
preferred securities are issued would have been at least 2.0 to 1.0, determined on a pro forma
basis (including a pro forma application of the net proceeds therefrom), as if the additional
Indebtedness had been incurred or Disqualified Stock or other preferred securities had been issued,
as the case may be, at the beginning of such four-quarter period.

     The first paragraph of this Section 5.09 will not prohibit the incurrence of any of the
following items of Indebtedness (collectively, “Permitted Debt”) or the issuance of any preferred
securities described in clause (11) below:

     (1) the incurrence by the Company or any of its Restricted Subsidiaries of additional
Indebtedness (including letters of credit) under one or more Credit Facilities, provided
that, after giving effect to any such incurrence, the aggregate principal amount of all
Indebtedness incurred under this clause (1) (with letters of credit being deemed to have a
principal amount equal to the maximum potential liability of the Company and its
Subsidiaries thereunder) and then outstanding does not exceed the greater of (a) $800.0
million or (b) $500.0 million plus 20% of the Company’s Consolidated Net Tangible Assets;

     (2) the incurrence by the Company or any of its Restricted Subsidiaries of the Existing
Indebtedness;

     (3) the incurrence by the Company and the Guarantors of Indebtedness represented by (a)
the Notes issued and sold on the Issue Date and the related Subsidiary Guarantees issued on
the date of this Indenture;

     (4) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness
represented by Capital Lease Obligations, mortgage financings or purchase money obligations,
in each case, incurred for the purpose of financing all or any part of the purchase price or
cost of construction or improvement of property, plant or equipment used in the business of
the Company or such Restricted Subsidiary, including all Permitted Refinancing Indebtedness
incurred to extend, refinance, renew, replace, defease or refund any Indebtedness incurred
pursuant to this clause (4), provided that after giving effect to any such incurrence, the
principal amount of all Indebtedness incurred pursuant to this clause (4) and then
outstanding does not exceed the greater of (a) $50.0 million or (b) 3.0% of the Company’s
Consolidated Net Tangible Assets at such time;

     (5) the incurrence by the Company or any of its Restricted Subsidiaries of Permitted
Refinancing Indebtedness in exchange for, or the net proceeds of which are

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used to extend, refinance, renew, replace, defease or refund Indebtedness that was
permitted by this Indenture to be incurred under the first paragraph of this Section 5.09 or
clause (2) or (3) of this paragraph or this clause (5);

     (6) the incurrence by the Company or any of its Restricted Subsidiaries of intercompany
Indebtedness between or among the Company and any of its Restricted Subsidiaries; provided,
however, that:

     (a) if the Company is the obligor on such Indebtedness and a Guarantor is not
the obligee, such Indebtedness must be expressly subordinated to the prior payment
in full in cash of all Obligations with respect to the Notes, or if a Guarantor is
the obligor on such Indebtedness and neither the Company nor another Guarantor is
the obligee, such Indebtedness must be expressly subordinated to the prior payment
in full in cash of all Obligations with respect to the Subsidiary Guarantee of such
Guarantor; and

     (b) (i) any subsequent issuance or transfer of Equity Interests that results in
any such Indebtedness being held by a Person other than the Company or a Restricted
Subsidiary of the Company and (ii) any sale or other transfer of any such
Indebtedness to a Person that is neither the Company nor a Restricted Subsidiary of
the Company will be deemed, in each case, to constitute an incurrence of such
Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that
was not permitted by this clause (6);

     (7) the incurrence by the Company or any of its Restricted Subsidiaries of obligations
under Hedging Contracts;

     (8) the guarantee by the Company or any of its Restricted Subsidiaries of Indebtedness
of the Company or any of its Restricted Subsidiaries that was permitted to be incurred by
another provision of this Section 5.09;

     (9) the incurrence by the Company or any of its Restricted Subsidiaries of obligations
relating to net gas balancing positions arising in the ordinary course of business and
consistent with past practice;

     (10) the incurrence by the Company or any of its Restricted Subsidiaries of
Indebtedness in respect of bid, performance, surety and similar bonds issued for the account
of the Company and any of its Restricted Subsidiaries in the ordinary course of business,
including guarantees and obligations of the Company or any of its Restricted Subsidiaries
with respect to letters of credit supporting such obligations (in each case other than an
obligation for money borrowed);

     (11) the issuance by any of the Company’s Restricted Subsidiaries to the Company or to
any of its Restricted Subsidiaries of any preferred securities; provided, however, that:

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     (a) any subsequent issuance or transfer of Equity Interests that results in any
such preferred securities being held by a Person other than the Company or a
Restricted Subsidiary of the Company; and

     (b) any sale or other transfer of any such preferred securities to a Person
that is not either the Company or a Restricted Subsidiary of the Company

shall be deemed, in each case, to constitute an issuance of such preferred securities by
such Restricted Subsidiary that was not permitted by this clause (11); and

     (12) the incurrence by the Company or any of its Restricted Subsidiaries of liability
in respect of the Indebtedness of any Unrestricted Subsidiary of the Company or any Joint
Venture but only to the extent that such liability is the result of the Company’s or any
such Restricted Subsidiary’s being a general partner of such Unrestricted Subsidiary or
Joint Venture and not as guarantor of such Indebtedness and provided that, after giving
effect to any such incurrence, the aggregate principal amount of all Indebtedness incurred
under this clause (12) and then outstanding does not exceed $50.0 million;

     (13) the incurrence by the Company or any of its Restricted Subsidiaries of Acquired
Debt in connection with a merger or consolidation meeting either one of the financial tests
set forth in clause (d) of Section 6.01; and

     (14) the incurrence by the Company or any of its Restricted Subsidiaries of additional
Indebtedness, provided that, after giving effect to any such incurrence, the aggregate
principal amount of all Indebtedness incurred under this clause (14) and then outstanding
does not exceed the greater of (a) $80.0 million or (b) 5.0% of the Company’s Consolidated
Net Tangible Assets.

     For purposes of determining compliance with this Section 5.09, in the event that an item of
Indebtedness (including Acquired Debt) meets the criteria of more than one of the categories of
Permitted Debt described in clauses (1) through (14) above, or is entitled to be incurred pursuant
to the first paragraph of this Section 5.09, the Company will be permitted to classify (or later
classify or reclassify in whole or in part in its sole discretion) such item of Indebtedness in any
manner that complies with this covenant. Any Indebtedness under Credit Facilities on the date of
this Indenture shall be considered incurred under the first paragraph of this Section 5.09.

     The accrual of interest, the accretion or amortization of original issue discount, the payment
of interest on any Indebtedness in the form of additional Indebtedness with the same terms, and the
payment of dividends on Disqualified Stock in the form of additional shares of the same class of
Disqualified Stock will not be deemed to be an incurrence of Indebtedness or an issuance of
Disqualified Stock for purposes of this Section 5.09, provided, in each such case, that the amount
thereof is included in Fixed Charges of the Company as accrued. Notwithstanding any other
provision of this Section 5.09, the maximum amount of Indebtedness that the Company or any
Restricted Subsidiary may incur pursuant to this Section 5.09 shall not be deemed to be exceeded
solely as a result of fluctuations in exchange rates or currency values. Further, the accounting
reclassification of any obligation of the Company or any of its Restricted Subsidiaries

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as Indebtedness will not be deemed an incurrence of Indebtedness for purposes of this Section
5.09.

Section 5.10. Limitation on Asset Sales.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, consummate an
Asset Sale unless:

     (1) the Company (or a Restricted Subsidiary, as the case may be) receives consideration
at the time of the Asset Sale at least equal to the fair market value of the assets or
Equity Interests issued or sold or otherwise disposed of;

     (2) the fair market value is determined by (a) an executive officer of the Company if
the value is less than $15.0 million and evidenced by an Officers’ Certificate delivered to
the Trustee, or (b) the Company’s Board of Directors if the value is $15.0 million or more
and evidenced by a resolution of the Board of Directors set forth in an Officers’
Certificate delivered to the Trustee; and

     (3) at least 75% of the aggregate consideration received by the Company and its
Restricted Subsidiaries in the Asset Sale and all other Asset Sales since the date of this
Indenture is in the form of cash. For purposes of this provision, each of the following
will be deemed to be cash:

     (a) any liabilities, as shown on the Company’s or any Restricted Subsidiary’s
most recent balance sheet, of the Company or such Subsidiary (other than contingent
liabilities and liabilities that are by their terms subordinated to the Notes or any
Subsidiary Guarantee) that are assumed by the transferee of any such assets pursuant
to a customary novation agreement that releases the Company or such Subsidiary from
further liability; and

     (b) any securities, notes or other obligations received by the Company or any
such Restricted Subsidiary from such transferee that are, within 90 days after the
Asset Sale, converted by the Company or such Subsidiary into cash, to the extent of
the cash received in that conversion.

     Within 360 days after the receipt of any Net Proceeds from an Asset Sale, the Company or any
such Restricted Subsidiary may apply those Net Proceeds at its option to any combination of the
following:

     (I) to repay Senior Debt;

     (II) to acquire all or substantially all of the properties or assets of a Person primarily
engaged in a Permitted Business;

     (III) to acquire a majority of the Voting Stock of a Person primarily engaged a Permitted
Business;

     (IV) to make capital expenditures; or

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     (V) to acquire other long-term assets that are used or useful in a Permitted Business.

     Pending the final application of any Net Proceeds, the Company or any such Restricted
Subsidiary may invest the Net Proceeds in any manner that is not prohibited by this Indenture. Any
Net Proceeds from Asset Sales that are not applied or invested as provided in the preceding
paragraph will constitute “Excess Proceeds.”

     On the 361st day after the Asset Sale (or, at the Company’s option, any earlier date), if the
aggregate amount of Excess Proceeds then exceeds $20.0 million, the Company will make an Asset Sale
Offer to all Holders of Notes, and to all holders of Pari Passu Indebtedness then outstanding, to
purchase on a pro rata basis the maximum principal amount of Notes and such Pari Passu Indebtedness
that may be purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer will be
equal to 100% of principal amount plus accrued and unpaid interest, if any, to the Settlement Date,
subject to the right of Holders of record on the relevant record date to receive interest due on an
Interest Payment Date that is on or prior to the Settlement Date, and will be payable in cash. If
any Excess Proceeds remain after consummation of an Asset Sale Offer, the Company or any Restricted
Subsidiary may use those Excess Proceeds for any purpose not otherwise prohibited by this
Indenture. If the aggregate principal amount of Notes tendered into such Asset Sale Offer exceeds
the amount of Excess Proceeds allocated to the Notes, the Trustee will select the Notes to be
purchased on a pro rata basis as set forth in Section 4.09(h) of this Indenture (or in the case of
Notes represented by a Global Note, the Trustee will select Notes for purchase by such method as
DTC may require, and in any case with such adjustments as may be deemed appropriate by the Trustee
so that only Notes in denominations of $2,000, or integral multiples of $1,000 in excess thereof,
shall be purchased). Upon completion of each Asset Sale Offer, the amount of Excess Proceeds will
be reset at zero.

     The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with each repurchase of Notes pursuant to an Asset Sale Offer. To the
extent that the provisions of any securities laws or regulations conflict with the provisions of
this Section 5.10, the Company will comply with the applicable securities laws and regulations and
will not be deemed to have breached its obligations under such provisions by virtue of such
conflict.

Section 5.11. Limitation on Transactions with Affiliates.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, make any
payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or
purchase any property or assets from, or enter into or make or amend any transaction, contract,
agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate
(each, an “Affiliate Transaction”), unless:

     (1) the Affiliate Transaction is on terms that are no less favorable to the Company or
the relevant Restricted Subsidiary than those that would have been obtained in a comparable
transaction by the Company or such Restricted Subsidiary with an unrelated Person; and

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     (2) the Company delivers to the Trustee, with respect to any Affiliate Transaction or
series of related Affiliate Transactions involving aggregate consideration in excess of
$15.0 million, a resolution of the Board of Directors of the Company set forth in an
Officers’ Certificate certifying that such Affiliate Transaction or series of Affiliate
Transactions complies with this Section 5.11 and that such Affiliate Transaction or series
of Affiliate Transactions has been approved by a majority of the disinterested members of
the Board of Directors of the Company.

     The following items will not be deemed to be Affiliate Transactions and, therefore, will not
be subject to the provisions of the prior paragraph of this Section 5.11:

     (1) any employment equity award, equity option or equity appreciation agreement or plan
entered into by the Company or any of its Restricted Subsidiaries in the ordinary course of
business;

     (2) transactions between or among any of the Company and its Restricted Subsidiaries;

     (3) transactions with a Person that is an Affiliate of the Company solely because the
Company owns an Equity Interest in such Person;

     (4) customary compensation, indemnification and other benefits made available to
officers, directors or employees of the Company or a Restricted Subsidiary or Affiliate of
the Company, including reimbursement or advancement of out-of-pocket expenses and provisions
of officers’ and directors’ liability insurance;

     (5) sales of Equity Interests (other than Disqualified Stock) to, or receipt of capital
contributions from, Affiliates of the Company;

     (6) Permitted Investments or Restricted Payments that are permitted by Section 5.07;

     (7) transactions effected in accordance with the terms of the Administrative and
Operating Services Agreement with Copano/Operations Inc., effective January 1, 2010, as such
agreement is in effect on the date of this Indenture, and any amendment or extension of such
agreement so long as such amendment or extension agreement is no less advantageous to the
Company in any material respect than the agreement so amended or extended;

     (8) the guarantee by ScissorTail Energy LLC of the performance by Southern Dome, LLC of
its obligations under the Gas Purchase and Processing Agreement effective as of May 1, 2005
between Southern Dome, LLC and New Dominion, L.L.C., as such agreement is in effect on the
date of this Indenture, and any amendment or extension of such agreement so long as such
amendment or extension agreement is no less advantageous to the Company in any material
respect than the agreement so amended or extended;

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     (9) transactions effected in accordance with the terms of the operating, limited
liability company or partnership agreement, as applicable, of each Equity Investee, or any
agreements ancillary thereto, as each such agreement is in effect on the date of this
Indenture, and any amendment or extension of such agreement so long as such amendment or
extension agreement is no less advantageous to the Company in any material respect than the
agreement so amended or extended; and

     (10) in the case of contracts for purchasing, selling, gathering, transporting,
treating, processing, marketing, distributing, storing or otherwise handling Hydrocarbons,
or activities or services reasonably related or ancillary thereto, or other operational
contracts, any such contracts are entered into in the ordinary course of business on terms
substantially similar to those contained in similar contracts entered into by the Company or
any Restricted Subsidiary and third parties.

Section 5.12. Limitation on Liens

     The Company will not and will not permit any of its Restricted Subsidiaries to, create, incur,
assume or otherwise cause or suffer to exist or become effective any Lien of any kind (other than
Permitted Liens) securing Indebtedness or Attributable Debt upon any of their property or assets,
now owned or hereafter acquired, unless the Notes or any Subsidiary Guarantee of such Restricted
Subsidiary, as applicable, is secured on an equal and ratable basis with (or on a senior basis to,
in the case of obligations subordinated in right of payment to the Notes or such Subsidiary
Guarantee, as the case may be) the obligations so secured until such time as such obligations are
no longer secured by a Lien.

Section 5.13. Additional Subsidiary Guarantees.

     If, after the date of this Indenture, any Restricted Subsidiary of the Company that is not
already a Guarantor guarantees any other Indebtedness of either of the Issuers or any Indebtedness
of any Guarantor, or any Domestic Subsidiary, if not then a Guarantor, incurs any Indebtedness
under any Credit Facility, then in either case that Subsidiary will become a Guarantor by executing
a supplemental indenture substantially in the form of Exhibit C and delivering it to the Trustee
within twenty Business Days of the date on which it guaranteed or incurred such Indebtedness, as
the case may be, together with any Officers’ Certificate or Opinion of Counsel required by Section
10.06; provided, however, that the preceding shall not apply to Subsidiaries of the Company that
have properly been designated as Unrestricted Subsidiaries in accordance with this Indenture for so
long as they continue to constitute Unrestricted Subsidiaries. Notwithstanding the preceding, any
Subsidiary Guarantee of a Restricted Subsidiary that was incurred pursuant to this Section 5.13 as
a result of its guarantee of any Indebtedness shall provide by its terms that it shall be
automatically and unconditionally released upon the release or discharge of the guarantee that
resulted in the creation of such Restricted Subsidiary’s Subsidiary Guarantee, except a discharge
or release by, or as a result of payment under, such guarantee.

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Section 5.14. Corporate Existence.

     Except as otherwise permitted pursuant to the terms hereof (including consolidation and merger
permitted by Section 6.01), the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect its corporate existence, and the corporate, partnership
or other existence of each of its Restricted Subsidiaries, in accordance with the respective
organizational documents (as the same may be amended from time to time) of the Company or any such
Restricted Subsidiary; provided, however, that the Company shall not be required to preserve the
existence of any of its Restricted Subsidiaries (except Finance Corp.) if the Company shall
determine that the preservation thereof is no longer desirable in the conduct of the business of
the Company and its Restricted Subsidiaries taken as a whole and that the loss thereof is not
adverse in any material respect to the Holders of the Notes.

Section 5.15. Offer to Repurchase Upon Change of Control.

     (1) Within 30 days following the occurrence of a Change of Control, the Company shall
make an offer (a “Change of Control Offer”) to repurchase all or any part (equal to $2,000
or an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase
price (the “Change of Control Payment”) in cash equal to 101% of the aggregate principal
amount of Notes repurchased, plus accrued and unpaid interest, if any, thereon to the date
of settlement (the “Change of Control Settlement Date”), subject to the right of Holders of
record on the relevant record date to receive interest due on an Interest Payment Date that
is on or prior to the Change of Control Settlement Date. Within 30 days following a Change
of Control, the Company shall mail a notice of the Change of Control Offer to each Holder
and the Trustee describing the transaction that constitutes the Change of Control and
stating:

     (a) that the Change of Control Offer is being made pursuant to this Section
5.15 and that all Notes validly tendered and not withdrawn will be accepted for
payment;

     (b) the purchase price and the expiration date of the Change of Control Offer,
which shall be no earlier than 30 days but no later than 60 days from the date such
notice is mailed;

     (c) that on the Change of Control Settlement Date the Company shall pay the
Change of Control Purchase Price for all Notes accepted for purchase in the Change
of Control Offer;

     (d) that any Note not tendered will continue to accrue interest;

     (e) that, unless the Company defaults in the payment of the Change of Control
Payment, all Notes accepted for payment pursuant to the Change of Control Offer
shall cease to accrue interest after the Change of Control Settlement Date;

     (f) that Holders electing to have any Notes purchased pursuant to the Change of
Control Offer will be required to surrender the Notes, properly

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endorsed for transfer, together with the form entitled “Option of Holder to
Elect Purchase” on the reverse of the Notes completed and such customary documents
as the Company may reasonably request, to the Paying Agent at the address specified
in the notice prior to the termination of the Change of Control Offer;

     (g) that Holders will be entitled to withdraw their election if the Paying
Agent receives, prior to the termination of the Change of Control Offer, a telegram,
facsimile transmission or letter setting forth the name of the Holder, the principal
amount of Notes delivered for purchase, and a statement that such Holder is
withdrawing its election to have the Notes purchased; and

     (h) that Holders whose Notes are being purchased only in part will be issued
new Notes equal in principal amount to the unpurchased portion of the Notes
surrendered, which unpurchased portion must be equal to $2,000 in principal amount
or an integral multiple of $1,000 in excess thereof.

If any of the Notes subject to a Change of Control Offer is in the form of a Global Note,
then the Company shall modify such notice to the extent necessary to accord with the
procedures of the Depository applicable to repurchases. Further, the Company shall comply
with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder to the extent such laws and regulations are applicable in connection
with the repurchase of Notes as a result of a Change of Control. To the extent that the
provisions of any securities laws or regulations conflict with the provisions of this
Section 5.15, the Company will comply with the applicable securities laws and regulations
and will not be deemed to have breached its obligations under such provisions by virtue of
such conflict.

     (2) Promptly following the expiration of the Change of Control Offer, the Company
shall, to the extent lawful, accept for payment all Notes or portions thereof properly
tendered pursuant to the Change of Control Offer. Promptly thereafter on the Change of
Control Settlement Date the Company shall:

     (a) deposit with the Paying Agent by 11:00 a.m., New York City time, an amount
equal to the Change of Control Payment in respect of all Notes or portions thereof
so tendered; and

     (b) deliver or cause to be delivered to the Trustee the Notes so accepted
together with an Officers’ Certificate stating the aggregate principal amount of
Notes or portions of Notes being purchased by the Company.

On the Change of Control Settlement Date, the Paying Agent shall mail to each Holder of
Notes properly tendered the Change of Control Payment for such Notes (or, if all the Notes
are then in global form, make such payment through the facilities of the Depository) and the
Trustee shall authenticate and mail (or cause to be transferred by book entry) to each
Holder a new Note equal in principal amount to any unpurchased portion of the Notes
surrendered, if any; provided, however, that each such new Note will be in a principal
amount of $2,000 or an integral multiple of $1,000 in excess thereof.

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The Company shall publicly announce the results of the Change of Control Offer on or as soon
as practicable after the Change of Control Purchase Date.

     (3) The Change of Control provisions described above shall be applicable whether or not
any other provisions of this Indenture are applicable.

     (4) Prior to complying with any of the provisions of this Section 5.15, but in any
event no later than the Change of Control Purchase Date, the Company or any Guarantor must
either repay all of its other outstanding Senior Debt or obtain the requisite consents, if
any, under all agreements governing such Senior Debt to permit the repurchase of Notes
required by this Section 5.15.

     (5) Notwithstanding the other provisions of this Section 5.15, the Company shall not be
required to make a Change of Control Offer following a Change of Control if (A) a third
party makes the Change of Control Offer in the manner, at the time and otherwise in
compliance with the requirements set forth in this Indenture applicable to a Change of
Control Offer made by the Company and purchases all Notes properly tendered and not
withdrawn under such Change of Control Offer or (B) notice of redemption has been given
pursuant to this Indenture, unless and until there is a default in payment of the applicable
redemption price.

     (6) A Change of Control Offer may be made in advance of a Change of Control, and
conditioned upon the occurrence of the Change of Control, if a definitive agreement is in
place for the Change of Control at the time of making the Change of Control Offer.

     (7) In the event that Holders of not less than 90% of the aggregate principal amount of
the outstanding Notes accept a Change of Control Offer and the Company (or the third party
making the Change of Control Offer as provided above) purchases all of the Notes held by
such Holders, the Company will have the right, upon not less than 30 nor more than 60 days’
prior notice, given not more than 30 days following the purchase pursuant to the Change of
Control Offer described above, to redeem all of the Notes that remain outstanding following
such purchase at a redemption price equal to the Change of Control Payment plus, to the
extent not included in the Change of Control Payment, accrued and unpaid interest on the
notes that remain outstanding, to the date of redemption (subject to the right of Holders of
record on the relevant record date to receive interest due on an Interest Payment Date that
is on or prior to the redemption date).

Section 5.16. No Inducements.

     The Company shall not, and the Company shall not permit any of its Subsidiaries, either
directly or indirectly, to pay (or cause to be paid) any consideration, whether by way of interest,
fee or otherwise, to any Beneficial Owner or Holder of the Notes for or as an inducement to any
consent to any waiver, supplement or amendment of any terms or provisions of this Indenture or the
Notes, unless such consideration is offered to be paid (or agreed to be paid) to all Beneficial

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Owners and Holders of the Notes which so consent in the time frame set forth in the
solicitation documents relating to such consent.

Section 5.17. Permitted Business Activities.

     The Company will not, and will not permit any Restricted Subsidiary to, engage in any business
other than a Permitted Business, except to such extent as would not be material to the Company and
its Restricted Subsidiaries taken as a whole.

     Finance Corp. shall not incur Indebtedness unless (1) the Company is a co-obligor or guarantor
of such Indebtedness or (2) the net proceeds of such Indebtedness are loaned to the Company, used
to acquire outstanding debt securities issued by the Company or used to repay Indebtedness of the
Company as permitted under Section 5.09. Finance Corp. shall not engage in any business not
related directly or indirectly to obtaining money or arranging financing for the Company or its
Restricted Subsidiaries.

Section 5.18. Sale and Leaseback Transactions.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, enter into
any Sale and Leaseback Transaction; provided, however, that the Company or any of its Restricted
Subsidiaries may enter into a Sale and Leaseback Transaction if:

     (1) the Company or that Restricted Subsidiary, as applicable, could have (a) incurred
Indebtedness in an amount equal to the Attributable Debt relating to such sale and leaseback
transaction under the Fixed Charge Coverage Ratio test in the first paragraph of Section
5.09 and (b) incurred a Lien to secure such Indebtedness pursuant to Section 5.12;

     (2) the gross cash proceeds of that Sale and Leaseback Transaction are at least equal
to the fair market value, as determined in good faith by the Board of Directors of the
Company and set forth in an Officers’ Certificate delivered to the Trustee, of the property
that is the subject of that Sale and Leaseback Transaction; and

     (3) the transfer of assets in that Sale and Leaseback Transaction is permitted by, and
the Company applies the proceeds of such transaction in compliance with, Section 5.10.

Section 5.19. Covenant Termination.

     If at any time (a) the rating assigned to the Notes by both S&P and Moody’s is an Investment
Grade Rating and (b) no Default has occurred and is continuing under this Indenture, the Company
and its Restricted Subsidiaries will no longer be subject to the provisions of Sections 4.09, 5.07,
5.08, 5.09, 5.10, 5.11, 5.17, clauses (1)(a) and (3) of Section 5.18, and clause (d) of Section
6.01 of this Indenture. However, the Company and its Restricted Subsidiaries will remain subject
to all of the other provisions of this Indenture.

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Section 5.20. Designation of Restricted and Unrestricted Subsidiaries.

     The Board of Directors of the Company may designate any Restricted Subsidiary of the Company
to be an Unrestricted Subsidiary if that designation would not cause a Default. If a Restricted
Subsidiary of the Company is designated as an Unrestricted Subsidiary, the aggregate fair market
value of all outstanding Investments owned by the Company and its Restricted Subsidiaries in the
Subsidiary properly designated will be deemed to be either an Investment made as of the time of the
designation that will reduce the amount available for Restricted Payments under the first paragraph
of Section 5.07 or represent Permitted Investments, as determined by the Company. That designation
shall only be permitted if the Investment would be permitted at that time and if the Subsidiary so
designated otherwise meets the definition of an Unrestricted Subsidiary.

     The Board of Directors of the Company may at any time designate any Unrestricted Subsidiary to
be a Restricted Subsidiary of the Company; provided that such designation will be deemed to be an
incurrence of Indebtedness by a Restricted Subsidiary of the Company of any outstanding
Indebtedness of such Unrestricted Subsidiary and such designation will only be permitted if (1)
such Indebtedness is permitted under Section 5.09, calculated on a pro forma basis as if such
designation had occurred at the beginning of the four-quarter reference period, and (2) no Default
or Event of Default would be in existence following such designation.

ARTICLE 6

SUCCESSORS

Section 6.01. Merger, Consolidation, or Sale of Assets.

     Neither of the Issuers may, directly or indirectly, (1) consolidate or merge with or into
another Person (whether or not such Issuer is the survivor), or (2) sell, assign, transfer, lease,
convey or otherwise dispose of all or substantially all of its properties or assets in one or more
related transactions to another Person, unless:

     (a) either (1) such Issuer is the survivor or (2) the Person formed by or surviving any
such consolidation or merger (if other than such Issuer ) or to which such sale, assignment,
transfer, lease, conveyance or other disposition shall have been made is a Person organized
or existing under the laws of the United States, any state of the United States or the
District of Columbia; provided, however, that Finance Corp. may not consolidate or merge
with or into any Person other than a corporation satisfying such requirement so long as the
Company is not a corporation;

     (b) the Person formed by or surviving any such consolidation or merger (if other than
such Issuer) or the Person to which such sale, assignment, transfer, lease, conveyance or
other disposition shall have been made assumes all the obligations of such Issuer under the
Notes and this Indenture pursuant to a supplemental indenture or other agreement in a form
reasonably satisfactory to the Trustee;

     (c) immediately after such transaction no Default or Event of Default exists;

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     (d) in the case of a transaction involving the Company and not Finance Corp., either;

     (i) the Company or the Person formed by or surviving any such consolidation or
merger (if other than the Company), or to which such sale, assignment, transfer,
lease, conveyance or other disposition shall have been made will, on the date of
such transaction after giving pro forma effect thereto and any related financing
transactions as if the same had occurred at the beginning of the applicable
four-quarter period, be permitted to incur at least $1.00 of additional Indebtedness
pursuant to the Fixed Charge Coverage Ratio test set forth in the first paragraph of
Section 5.09 hereof; or

     (ii) immediately after giving effect to such transaction and any related
financing transactions on a pro forma basis as if the same had occurred at the
beginning of the Company’s most recently ended four full quarters for which internal
financial statements are available immediately preceding the date of the
transactions, the Fixed Charge Coverage Ratio of the Company or the Person formed by
or surviving any such consolidation or merger (if other than the Company), or to
which such sale, assignment, transfer, lease, conveyance or other disposition has
been made will be equal to or greater than the Fixed Charge Coverage Ratio of the
Company immediately before such transactions; and

     (e) such Issuer has delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, merger or disposition and such supplemental
indenture (if any) comply with this Indenture.

     Notwithstanding the preceding paragraph of this Section 6.01, the Company may reorganize as
any other form of entity in accordance with the following procedures provided that:

     (1) the reorganization involves the conversion (by merger, sale, contribution or
exchange of assets or otherwise) of the Company into a form of entity other than a limited
liability company formed under Delaware law;

     (2) the entity so formed by or resulting from such reorganization is an entity
organized or existing under the laws of the United States, any state thereof or the District
of Columbia;

     (3) the entity so formed by or resulting from such reorganization assumes all the
obligations of the Company under the Notes and this Indenture pursuant to agreements
reasonably satisfactory to the Trustee;

     (4) immediately after such reorganization no Default or Event of Default exists; and

     (5) such reorganization is not materially adverse to the Holders or Beneficial Owners
of the Notes (for purposes of this clause (5) a reorganization will not be considered
materially adverse to the Holders or Beneficial Owners of the Notes solely because the
successor or survivor of such reorganization (a) is subject to federal or state

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income taxation as an entity or (b) is considered to be an “includible corporation” of
an affiliated group of corporations within the meaning of Section 1504(b) of the Code or any
similar state or local law).

Section 6.02. Successor Substituted.

     Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or
other disposition of all or substantially all of the properties or assets of an Issuer in
accordance with Section 6.01 hereof, the successor formed by such consolidation or into or with
which such Issuer is merged or to which such sale, assignment, transfer, lease, conveyance or other
disposition is made shall succeed to, and may exercise every right and power of, such Issuer under
this Indenture with the same effect as if such successor had been named as such Issuer herein and
shall be substituted for such Issuer (so that from and after the date of such consolidation,
merger, sale, assignment, transfer, lease, conveyance or other disposition, the provisions of this
Indenture referring to the “Company” or “Finance Corp.,” as the case may be, shall refer instead to
the successor and not to the Company or Finance Corp., as the case may be); and thereafter, if an
Issuer is dissolved following a transfer of all or substantially all of its properties or assets in
accordance with this Indenture, it shall be discharged and released from all obligations and
covenants under this Indenture and the Notes. The Trustee shall enter into a supplemental
indenture to evidence the succession and substitution of such successor and such discharge and
release of such Issuer.

ARTICLE 7

DEFAULTS AND REMEDIES

Section 7.01. Events of Default.

     An “Event of Default” occurs if one of the following shall have occurred and be continuing
(whatever the reason for such Event of Default and whether it shall be involuntary or be effected
by operation of law):

     (a) an Issuer defaults in the payment when due of interest with respect to the Notes
and such default continues for a period of 30 days;

     (b) an Issuer defaults in the payment of the principal of or premium, if any, on the
Notes when due at its Stated Maturity, upon optional redemption, upon required repurchase,
upon declaration or otherwise;

     (c) the Company fails to comply with the provisions of Section 4.09, 5.10, 5.15 or 6.01
hereof;

     (d) the Company fails to comply with the provisions of Section 5.03 for 90 days after
notice to the Company by the Trustee or the Holders of at least 25% in principal amount of
the Notes then outstanding of such failure;

     (e) the Company fails to comply with any other covenant or other agreement in this
Indenture or the Notes for 60 days after notice to the Company by the Trustee or

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the Holders of at least 25% in principal amount of the Notes then outstanding of such
failure;

     (f) a default occurs under any mortgage, indenture or instrument under which there may
be issued or by which there may be secured or evidenced any Indebtedness for money borrowed
by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed
by the Company or any of its Restricted Subsidiaries), whether such Indebtedness or
guarantee now exists, or is created after the Issue Date, if such default:

     (1) is caused by a failure to pay principal of, or interest or premium, if any,
on such Indebtedness prior to the expiration of the grace period provided in such
Indebtedness (a “Payment Default”); or

     (2) results in the acceleration of such Indebtedness prior to its Stated
Maturity

and, in each case, the principal amount of any such Indebtedness, together with the
principal amount of any other such Indebtedness under which there has been a Payment Default
or the maturity of which has been so accelerated, aggregates $20.0 million or more;
provided, however, that if any such Payment Default is cured or waived or any such
acceleration rescinded, or such Indebtedness is repaid, within a period of 60 days from the
continuation of such Payment Default beyond the applicable grace period or the occurrence of
such acceleration, as the case may be, such Event of Default and any consequential
acceleration of the Notes shall be automatically rescinded, so long as such rescission does
not conflict with any judgment or decree;

     (g) the Company or any of its Restricted Subsidiaries fails to pay final judgments
aggregating in excess of $20.0 million (to the extent not covered by insurance by a
reputable and creditworthy insurer as to which the insurer has not disclaimed coverage),
which judgments are not paid, discharged or stayed for a period of 60 days;

     (h) except as permitted by this Indenture, any Subsidiary Guarantee is held in any
judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full
force and effect or any Guarantor, or any Person acting on behalf of any Guarantor, denies
or disaffirms its obligations under its Subsidiary Guarantee; and

     (i) the Company, Finance Corp., any of the Company’s Restricted Subsidiaries that is a
Significant Subsidiary of the Company or any group of Restricted Subsidiaries of the Company
that, taken together, would constitute a Significant Subsidiary of the Company pursuant to
or within the meaning of Bankruptcy Law:

     (1) commences a voluntary case,

     (2) consents in writing to the entry of an order for relief against it in an
involuntary case,

     (3) consents in writing to the appointment of a Custodian of it or for all or
substantially all of its property,

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     (4) makes a general assignment for the benefit of its creditors, or

     (5) admits in writing it generally is not paying its debts as they become due;
or

     (j) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that:

     (1) is for relief against the Company, Finance Corp., any of the Company’s
Restricted Subsidiaries that is a Significant Subsidiary of the Company or any group
of Restricted Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary of the Company in an involuntary case;

     (2) appoints a Custodian of the Company, Finance Corp., any of the Company’s
Restricted Subsidiaries that is a Significant Subsidiary of the Company or any group
of Restricted Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary of the Company or for all or substantially all of the
property of the Company, Finance Corp., any of the Company’s Restricted Subsidiaries
that is a Significant Subsidiary of the Company or any group of Restricted
Subsidiaries of the Company, that, taken together, would constitute a Significant
Subsidiary of the Company; or

     (3) orders the liquidation of the Company, Finance Corp., any of the Company’s
Restricted Subsidiaries that is a Significant Subsidiary of the Company or any group
of Restricted Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary of the Company;

     and the order or decree remains unstayed and in effect for 60 consecutive days.

Section 7.02. Acceleration.

     If any Event of Default occurs and is continuing, the Trustee, by notice to the Issuers, or
the Holders of at least 25% in principal amount of the then outstanding Notes, by written notice to
the Issuers and the Trustee, may declare all the Notes to be due and payable immediately. Upon any
such declaration, the Notes shall become due and payable immediately, together with all accrued and
unpaid interest, if any, and premium, if any, thereon. Notwithstanding the preceding, if an Event
of Default specified in clause (i) or (j) of Section 7.01 hereof occurs with respect to the
Company, Finance Corp., any of the Company’s Restricted Subsidiaries that is a Significant
Subsidiary of the Company or any group of Restricted Subsidiaries of the Company that, taken
together, would constitute a Significant Subsidiary of the Company, all outstanding Notes shall
become immediately due and payable without further action or notice, together with all accrued and
unpaid interest, if any, and premium, if any, thereon. The Holders of a majority in principal
amount of the then outstanding Notes by written notice to the Trustee may on behalf of all of the
Holders rescind an acceleration and its consequences if the rescission would not conflict with any
judgment or decree and if all existing Events of Default (except with respect to nonpayment of
principal, interest or premium, if any, that have become due solely because of the acceleration)
have been cured or waived.

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Section 7.03. Other Remedies.

     If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy
to collect the payment of principal of, premium, if any, and interest on the Notes or to enforce
the performance of any provision of the Notes or this Indenture.

     The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note
in exercising any right or remedy accruing upon an Event of Default shall not impair the right or
remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law.

Section 7.04. Waiver of Past Defaults.

     Holders of a majority in principal amount of the then outstanding Notes by notice to the
Trustee may on behalf of the Holders of all of the Notes waive any existing Default or Event of
Default and its consequences hereunder, except a continuing Default or Event of Default in the
payment of the principal of or premium, if any, or interest on the Notes (including in connection
with an offer to purchase). 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 7.05. Control by Majority.

     Holders of a majority in principal amount of the then outstanding Notes may direct the time,
method and place of conducting any proceeding for exercising any remedy available to the Trustee or
exercising any trust or power conferred on it. However, the Trustee may refuse to follow any
direction that conflicts with law or this Indenture or that the Trustee determines may be unduly
prejudicial to the rights of other Holders of Notes or that may involve the Trustee in personal
liability.

Section 7.06. Limitation on Suits.

     A Holder of a Note may pursue a remedy with respect to this Indenture or the Notes only if:

     (a) the Holder of a Note gives to the Trustee written notice of a continuing Event of
Default;

     (b) the Holders of at least 25% in principal amount of the then outstanding Notes make
a written request to the Trustee to pursue the remedy;

     (c) such Holder of a Note or Holders of Notes offer and, if requested, provide to the
Trustee indemnity or security satisfactory to the Trustee against any loss, liability or
expense;

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     (d) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer and, if requested, the provision of indemnity; and

     (e) during such 60-day period the Holders of a majority in principal amount of the then
outstanding Notes do not give the Trustee a direction inconsistent with the request.

A Holder of a Note may not use this Indenture to prejudice the rights of another Holder of a Note
or to obtain a preference or priority over another Holder of a Note.

Section 7.07. Rights of Holders of Notes to Receive Payment.

     Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to
receive payment of principal of, premium, if any, and interest on the Note, on or after the
respective due dates expressed in the Note (including in connection with an offer to purchase), or
to bring suit for the enforcement of any such payment on or after such respective dates, shall not
be impaired or affected without the consent of such Holder.

Section 7.08. Collection Suit by Trustee.

     If an Event of Default specified in Section 7.01(a) or (b) occurs and is continuing, the
Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Issuers and the Guarantors for the whole amount of principal of, premium, if any, and
interest remaining unpaid on the Notes and interest on overdue principal and, to the extent lawful,
interest and 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.

Section 7.09. Trustee May File Proofs of Claim.

     The Trustee is authorized to file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Issuers
(or any other obligor upon the Notes), their creditors or their property and shall be entitled and
empowered to collect, receive and distribute any money or other property payable or deliverable on
any such claims and any custodian 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 to it for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel, and any other amounts due the Trustee under Section 8.07 hereof. To the extent that the
payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 8.07 hereof out of the estate in
any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien
on, and shall be paid out of, any and all distributions, dividends, money, securities and other
properties that the Holders may be entitled to receive in such proceeding whether in liquidation or
under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be
deemed to authorize the Trustee

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to authorize or consent to or accept or adopt on behalf of any Holder any plan of
reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any
Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding.

Section 7.10. Priorities.

     If the Trustee collects any money pursuant to this Article, it shall pay out the money in the
following order:

     First: to the Trustee, its agents and attorneys for amounts due under Section 8.07
hereof, including payment of all compensation, expense and liabilities incurred, and all
advances made, by the Trustee and the Trustee’s costs and expenses of collection;

     Second: to Holders of Notes for amounts due and unpaid on the Notes for principal,
premium, if any, and interest, ratably, without preference or priority of any kind,
according to the amounts due and payable on the Notes for principal, premium, if any, and
interest, respectively; and

     Third: to the Issuers or to such party as a court of competent jurisdiction shall
direct.

     The Trustee may fix a record date and payment date for any payment to Holders of Notes
pursuant to this Section 7.10.

Section 7.11. 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 or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the
claims or defenses made by the party litigant. This Section does not apply to a suit by the
Trustee, a suit by a Holder of a Note pursuant to Section 7.07 hereof, or a suit by Holders of more
than 10% in principal amount of the then outstanding Notes.

ARTICLE 8

TRUSTEE

Section 8.01. Duties of Trustee.

     (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of
the rights and powers vested in it by this Indenture, and use the same degree of care and skill in
its exercise, as a prudent man would exercise or use under the circumstances in the conduct of his
own affairs.

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     (b) Except during the continuance of an Event of Default:

     (i) the duties of the Trustee shall be determined solely by the express provisions of
this Indenture and the Trustee need perform only those duties that are specifically set
forth in this Indenture and no others, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and

     (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture. However, the Trustee shall examine the certificates and opinions to determine
whether or not they conform to the requirements of this Indenture.

     (c) The Trustee may not be relieved from liabilities for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:

     (i) this paragraph does not limit the effect of paragraph (b) of this Section 8.01;

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

     (iii) the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 7.05
hereof.

     (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 8.01.

     (e) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with an Issuer. Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law.

Section 8.02. Rights of Trustee.

     (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to
have been signed or presented by the proper Person. The Trustee need not investigate any fact or
matter stated in the document.

     (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits
to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. 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 from liability in respect of any action taken,
suffered or omitted by it hereunder in good faith and in reliance thereon.

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     (c) The Trustee may act through its attorneys and agents and shall not be responsible for the
misconduct or negligence of any agent appointed with due care.

     (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
that it believes to be authorized or within the rights or powers conferred upon it by this
Indenture, and the Trustee shall not be liable for any special, indirect, consequential or punitive
loss or damage (including but not limited to lost profits).

     (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction
or notice from an Issuer shall be sufficient if signed by an Officer of such Issuer.

     (f) 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 unless such Holder shall
have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs,
expenses and liabilities that might be incurred by it in compliance with such request or direction.

     (g) The Trustee shall have no duty to inquire as to the performance of the Company’s covenants
in Article 5 hereof. In addition, the Trustee shall not be deemed to have knowledge of any Default
or Event of Default except: (1) any Event of Default occurring pursuant to Section 7.01(a) or
7.01(b) hereof; or (2) any Default or Event of Default of which a Responsible Officer shall have
received written notification or obtained actual knowledge.

     (h) The permissive right of the Trustee to act hereunder shall not be construed as a duty.

     (i) The rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Trustee in each of its capacities hereunder and in its capacity as Trustee
under any other agreement executed in connection with this Indenture to which the Trustee is a
party.

Section 8.03. Individual Rights of Trustee.

     The Trustee in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Issuers, any Guarantor or any Affiliate of the Company with the
same rights it would have if it were not Trustee. However, in the event that the Trustee acquires
any conflicting interest (as defined in the TIA) after a Default has occurred and is continuing, it
must eliminate such conflict within 90 days, apply to the SEC for permission to continue as trustee
or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to
Sections 8.10 and 8.11 hereof.

Section 8.04. Trustee’s Disclaimer.

     The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture or the Notes, it shall not be accountable for either Issuer’s use of the
proceeds from the Notes or any money paid to an Issuer or upon either Issuer’s direction under any
provision of this Indenture, it shall not be responsible for the use or application of any

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money received by any Paying Agent other than the Trustee, and it shall not be responsible for
any statement or recital herein or any statement in the Notes or any other document in connection
with the sale of the Notes or pursuant to this Indenture other than its certificate of
authentication.

Section 8.05. Notice of Defaults.

     If a Default or Event of Default occurs and is continuing and if it is known to the Trustee,
the Trustee shall mail to Holders of Notes a notice of the Default or Event of Default within 90
days after it occurs. Except in the case of a Default or Event of Default in payment of principal
of or premium, if any, or interest on any Note, the Trustee may withhold the notice if and so long
as a committee of its Responsible Officers in good faith determines that withholding the notice is
in the interests of the Holders of the Notes.

Section 8.06. Reports by Trustee to Holders of the Notes.

     Within 60 days after each May 15 beginning with the May 15 following the date of this
Indenture, and for so long as Notes remain outstanding, the Trustee shall mail to the Holders of
the Notes a brief report dated as of such reporting date that complies with TIA § 313(a) (but if no
event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date,
no report need be transmitted). The Trustee also shall comply with TIA § 313(b)(2) and §
313(b)(1). The Trustee shall also transmit by mail all reports as required by TIA § 313(c).

     A copy of each report at the time of its mailing to the Holders of Notes shall be mailed to
the Issuers and filed with the SEC and each stock exchange on which the Notes are listed in
accordance with TIA § 313(d). The Company shall promptly notify the Trustee when the Notes are
listed on any stock exchange.

Section 8.07. Compensation and Indemnity.

     The Issuers shall pay to the Trustee from time to time such reasonable compensation as the
Issuers and the Trustee may agree in writing for the Trustee’s acceptance of this Indenture and
services hereunder. The Trustee’s compensation shall not be limited by any law on compensation of
a trustee of an express trust. The Issuers shall reimburse the Trustee promptly upon request for
all reasonable disbursements, advances and expenses incurred or made by it in addition to the
compensation for its services. Such expenses shall include, without limitation, the reasonable
compensation, disbursements and expenses of the Trustee’s agents and counsel.

     The Issuers and the Guarantors shall indemnify the Trustee, jointly and severally, against any
and all losses, liabilities or expenses incurred by it arising out of or in connection with the
acceptance or administration of its duties under this Indenture, including the costs and expenses
of enforcing this Indenture against the Issuers and the Guarantors (including this Section 8.07)
and defending itself against any claim (whether asserted by an Issuer, any Guarantor or any Holder
or any other Person) or liability in connection with the exercise or performance of any of its
powers or duties hereunder, except to the extent any such loss, liability or expense may be
attributable to its negligence, bad faith or willful misconduct. The Trustee shall notify the
Issuers and the Guarantors promptly of any claim for which it may seek indemnity. Failure by the
Trustee to so notify the Issuers and the Guarantors shall not relieve the Issuers or the Guarantors
of their obligations hereunder. The Issuers and the Guarantors shall defend the claim

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and the Trustee shall cooperate in the defense. The Trustee may have separate counsel and the
Issuers and the Guarantors shall pay the reasonable fees and expenses of such counsel; provided
that the Issuers and the Guarantors will not be required to pay such fees and expenses if they
assume the Trustee’s defense with counsel acceptable to and approved by the Trustee (such approval
not to be unreasonably withheld) and there is no conflict of interest between the Issuers and the
Trustee in connection with such defense. The Issuers and the Guarantors need not pay for any
settlement made without their consent, which consent shall not be unreasonably withheld. Neither
the Issuers nor the Guarantors need reimburse the Trustee for any expense or indemnity against any
liability or loss of the Trustee to the extent such expense, liability or loss is attributable to
the negligence, bad faith or willful misconduct of the Trustee.

     The obligations of the Issuers and the Guarantors under this Section 8.07 shall survive the
satisfaction and discharge of this Indenture.

     To secure the Issuers’ and the Guarantors’ payment obligations in this Section 8.07, the
Trustee shall have a Lien prior to the Notes on all money or property held or collected by the
Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien
shall survive the satisfaction and discharge of this Indenture.

     When the Trustee incurs expenses or renders services after an Event of Default specified in
Section 7.01(i) or (j) hereof occurs, the expenses and the compensation for the services (including
the fees and expenses of its agents and counsel) are intended to constitute expenses of
administration under any Bankruptcy Law.

     The Trustee shall comply with the provisions of TIA § 313(b)(2) to the extent applicable.

Section 8.08. Replacement of Trustee.

     A resignation or removal of the Trustee and appointment of a successor Trustee shall become
effective only upon the successor Trustee’s acceptance of appointment as provided in this Section.

     The Trustee may resign in writing upon 30 days notice at any time and be discharged from the
trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal
amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the
Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The
Issuers may remove the Trustee if:

     (a) the Trustee fails to comply with Section 8.10 hereof;

     (b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is
entered with respect to the Trustee under any Bankruptcy Law;

     (c) a receiver, Custodian or public officer takes charge of the Trustee or its
property; or

     (d) the Trustee becomes incapable of acting.

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     If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any
reason, the Issuers shall promptly appoint a successor Trustee. Within one year after the
successor Trustee takes office, the Holders of a majority in principal amount of the then
outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Issuers.

     If a successor Trustee does not take office within 30 days after the retiring Trustee resigns
or is removed, the retiring Trustee, the Issuers or the Holders of Notes of at least 10% in
principal amount of the then outstanding Notes may petition any court of competent jurisdiction for
the appointment of a successor Trustee.

     If the Trustee, after written request by any Holder of a Note who has been a Holder of a Note
for at least six months, fails to comply with Section 8.10 hereof, such Holder of a Note may
petition any court of competent jurisdiction for the removal of the Trustee and the appointment of
a successor Trustee.

     A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Issuers. Thereupon, the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders of the Notes. The retiring Trustee shall promptly transfer all property held by it as
Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been paid
and subject to the Lien provided for in Section 8.07 hereof. Notwithstanding replacement of the
Trustee pursuant to this Section 8.08, the Issuers’ and the Guarantors’ obligations under Section
8.07 hereof shall continue for the benefit of the retiring Trustee.

Section 8.09. Successor Trustee by Merger, etc.

     If the Trustee consolidates, merges or converts into, or transfers all or substantially all of
its corporate trust business to, another corporation, the successor corporation without any further
act shall be the successor Trustee. As soon as practicable, the successor Trustee shall mail a
notice of its succession to the Issuers and the Holders of the Notes.

Section 8.10. Eligibility; Disqualification.

     There shall at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate trustee power, that is subject to supervision or examination
by federal or state authorities and that has a combined capital and surplus of at least $100
million as set forth in its most recent published annual report of condition.

     This
Indenture shall always have a Trustee who satisfies the requirements
of TIA § 310(a)(1),
(2) and (5). The Trustee is subject to TIA
§ 310(b).

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Section 8.11. Preferential Collection of Claims Against Issuers.

     The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA §
311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent
indicated therein.

ARTICLE 9

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

Section 9.01. Option to Effect Legal Defeasance or Covenant Defeasance.

     The Issuers may, at the option of their respective Boards of Directors evidenced by a
resolution set forth in an Officers’ Certificate, at any time, exercise their rights under either
Section 9.02 or 9.03 hereof with respect to all outstanding Notes upon compliance with the
conditions set forth below in this Article 9.

Section 9.02. Legal Defeasance and Discharge.

     Upon the Issuers’ exercise under Section 9.01 hereof of the option applicable to this Section
9.02, the Issuers shall, subject to the satisfaction of the conditions set forth in Section 9.04
hereof, be deemed to have discharged their obligations with respect to all outstanding Notes, and
each Guarantor shall be deemed to have discharged its obligations with respect to its Subsidiary
Guarantee, on the date the conditions set forth in Section 9.04 below are satisfied (hereinafter,
“Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuers shall be deemed to
have paid and discharged the entire Indebtedness represented by the outstanding Notes, and each
Guarantor shall be deemed to have paid and discharged its Subsidiary Guarantee (which in each case
shall thereafter be deemed to be “outstanding” only for the purposes of Section 9.05 hereof and the
other Sections of this Indenture referred to in (a) and (b) below) and to have satisfied all its
other obligations under such Notes or Subsidiary Guarantee and this Indenture (and the Trustee, on
demand of and at the expense of the Issuers, shall execute proper instruments acknowledging the
same), except for the following provisions which shall survive until otherwise terminated or
discharged hereunder: (a) the rights of Holders of outstanding Notes to receive solely from the
trust fund described in Section 9.04 hereof, and as more fully set forth in such Section, payments
in respect of the principal of, premium, if any, and interest on such Notes when such payments are
due, (b) the Issuers’ obligations with respect to such Notes under Sections 3.06, 3.07, 3.09, 3.14
and 5.02 hereof, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and
the Issuers’ and the Guarantors’ obligations in connection therewith and (d) the Legal Defeasance
provisions of this Article 9. Subject to compliance with this Article 9, the Issuers may exercise
their option under this Section 9.02 notwithstanding the prior exercise of its option under Section
9.03 hereof.

     If the Issuers exercise their Legal Defeasance option, each Guarantor will be released and
relieved of any obligations under its Subsidiary Guarantee, and any security for the Notes (other
than the trust) will be released.

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Section 9.03. Covenant Defeasance.

     Upon the Issuers’ exercise under Section 9.01 hereof of the option applicable to this Section
9.03, the Issuers shall, subject to the satisfaction of the conditions set forth in Section 9.04
hereof, be released from their obligations under the covenants contained in Article 5 (other than
those in Sections 5.01, 5.02, 5.06 and 5.14) and in clause (d) of Section 6.01 hereof on and after
the date the conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”), and the
Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver,
consent or declaration or act of Holders (and the consequences of any thereof) in connection with
such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it
being understood that such Notes shall not be deemed outstanding for accounting purposes). For
this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuers
and any Guarantor may omit to comply with and shall have no liability in respect of any term,
condition or limitation set forth in any such covenant, whether directly or indirectly, by reason
of any reference elsewhere herein to any such covenant or by reason of any reference in any such
covenant to any other provision herein or in any other document and such omission to comply shall
not constitute a Default or an Event of Default under Section 7.01 hereof, but, except as specified
above, the remainder of this Indenture and such Notes shall be unaffected thereby. In addition,
upon the Issuers’ exercise under Section 9.01 hereof of the option applicable to this Section 9.03
hereof, subject to the satisfaction of the conditions set forth in Section 9.04 hereof, Sections
7.01(f) through 7.01(h) hereof shall not constitute Events of Default.

     If the Issuers exercise their Covenant Defeasance option, each Guarantor will be released and
relieved of any obligations under its Subsidiary Guarantee and any security for the Notes (other
than the trust) will be released.

Section 9.04. Conditions to Legal or Covenant Defeasance.

     In order to exercise either Legal Defeasance or Covenant Defeasance:

     (a) the Issuers must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination
thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized
firm of independent public accountants, to pay the principal of and premium, if any, and
interest on the outstanding Notes on the date of fixed maturity or on the applicable
redemption date, as the case may be, and the Issuers must specify whether the Notes are
being defeased to the date of fixed maturity or to a particular redemption date;

     (b) in the case of an election under Section 9.02 hereof, the Issuers shall have
delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
confirming that:

     (1) the Issuers have received from, or there has been published by, the
Internal Revenue Service a ruling; or

     (2) since the Issue Date, there has been a change in the applicable federal
income tax law,

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in either case to the effect that, and based thereon such Opinion of Counsel shall confirm
that, the Holders of the outstanding Notes will not recognize income, gain or loss for
federal income tax purposes as a result of such Legal Defeasance and will be subject to
federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such Legal Defeasance had not occurred;

     (c) in the case of an election under Section 9.03 hereof, the Issuers shall have
delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
confirming that the Holders of the outstanding Notes will not recognize income, gain or loss
for federal income tax purposes as a result of such Covenant Defeasance and will be subject
to federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such Covenant Defeasance had not occurred;

     (d) no Default or Event of Default shall have occurred and be continuing on the date of
such deposit (other than a Default or Event of Default resulting from the incurrence of
Indebtedness or the grant of Liens securing such Indebtedness, all or a portion of the
proceeds of which will be used to defease the Notes pursuant to this Article 9 concurrently
with such incurrence or within 30 days thereof);

     (e) such Legal Defeasance or Covenant Defeasance shall not result in a breach or
violation of, or constitute a default under, any material agreement or instrument (other
than this Indenture) to which the Company or any of its Subsidiaries is a party or by which
the Company or any of its Subsidiaries is bound;

     (f) the Issuers shall have delivered to the Trustee an Officers’ Certificate stating
that the deposit was not made by the Issuers with the intent of preferring the Holders over
any other creditors of the Issuers or with the intent of defeating, hindering, delaying or
defrauding creditors of the Issuers or others; and

     (g) the Issuers shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for or relating to
the Legal Defeasance or the Covenant Defeasance have been complied with.

Section 9.05. Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous
Provisions.

     Subject to Section 9.06 hereof, all money and non-callable Government Securities (including
the proceeds thereof) deposited with the Trustee pursuant to Section 9.04 or 9.08 hereof in respect
of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the
provisions of such Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company or any of its Subsidiaries acting as Paying Agent) as the Trustee may
determine, to the Holders of such Notes of all sums due and to become due thereon in respect of
principal, premium, if any, and interest, but such money need not be segregated from other funds
except to the extent required by law.

     The Issuers shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or non-callable Government Securities deposited pursuant to Section
9.04 or 9.08 hereof or the principal and interest received in respect thereof

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other than any such tax, fee or other charge which by law is for the account of the Holders of
the outstanding Notes.

     Anything in this Article 9 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Issuers from time to time upon the written request of the Issuers any money or non-callable
Government Securities held by it as provided in Section 9.04 or 9.08 hereof which, in the opinion
of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee (which may be the opinion delivered under Section
9.04(a) hereof), are in excess of the amount thereof that would then be required to be deposited to
effect an equivalent Legal Defeasance, Covenant Defeasance or Discharge, as the case may be.

Section 9.06. Repayment to Issuers.

     Subject to applicable escheat and abandoned property laws, any money or non-callable
Government Securities deposited with the Trustee or any Paying Agent, or then held by an Issuer, in
trust for the payment of the principal of or premium, if any, or interest on any Note and remaining
unclaimed for two years after such principal, premium, if any, or interest has become due and
payable shall be paid to the Issuers on their written request or (if then held by an Issuer) shall
be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured
creditor, look only to the Issuers for payment thereof, and all liability of the Trustee or such
Paying Agent with respect to such trust money or non-callable Government Securities, and all
liability of the Issuers 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 Issuers cause to be published once, in the New York Times and The Wall Street Journal
(national edition), 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 notification or publication,
any unclaimed balance of such money then remaining will be repaid to the Issuers.

Section 9.07. Reinstatement.

     If the Trustee or Paying Agent is unable to apply any money or non-callable Government
Securities in accordance with Section 9.05 hereof, by reason of any order or judgment of any court
or governmental authority enjoining, restraining or otherwise prohibiting such application, then
the Issuers’ obligations under this Indenture and the Notes shall be revived and reinstated as
though no deposit had occurred pursuant to Section 9.02 or 9.03 hereof until such time as the
Trustee or Paying Agent is permitted to apply all such money in accordance with Section 9.05
hereof; provided, however, that, if an Issuer makes any payment of principal of or premium, if any,
or interest on any Note following the reinstatement of its obligations, such Issuer shall be
subrogated to the rights of the Holders of such Notes to receive such payment from the money held
by the Trustee or Paying Agent.

Section 9.08. Discharge.

     This Indenture shall be satisfied and discharged and shall cease to be of further effect as to
all Notes issued hereunder (except for (a) the rights of Holders of outstanding Notes to receive
solely from the trust fund described in clause (b) of this Section 9.08, and as more fully set
forth

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in such clause (b), payments in respect of the principal of, premium, if any, and interest on
such Notes when such payments are due, (b) the Issuers’ obligations with respect to such Notes
under Sections 3.06, 3.07, 3.09, 3.14 and 5.02 hereof and (c) the rights, powers, trusts, duties
and immunities of the Trustee hereunder and the Issuers’ obligations in connection therewith),
when:

     (1) either:

     (a) all Notes that have been authenticated, except lost, stolen or destroyed Notes that
have been replaced or paid and Notes for whose payment money has been deposited in trust and
thereafter repaid to the Issuers, have been delivered to the Trustee for cancellation; or

     (b) all Notes that have not been delivered to the Trustee for cancellation have become
due and payable or will become due and payable within one year by reason of the mailing of a
notice of redemption or otherwise, and the Issuers or any Guarantor has irrevocably
deposited or caused to be deposited with the Trustee as trust funds in trust solely for the
benefit of the Holders, cash in U.S. dollars, non-callable Government Securities, or a
combination of cash in U.S. dollars and non-callable Government Securities, in amounts as
will be sufficient without consideration of any reinvestment of interest, to pay and
discharge the entire indebtedness on the Notes not delivered to the Trustee for cancellation
for principal, premium, if any, and accrued interest to the date of fixed maturity or
redemption;

     (2) no Default or Event of Default has occurred and is continuing on the date of the deposit
or will occur as a result of the deposit (other than a Default or Event of Default resulting from
the incurrence of Indebtedness or the grant of Liens securing such Indebtedness, all or a portion
of the proceeds of which will be used to fund such deposit concurrently with such incurrence or
within 30 days thereof) and the deposit will not result in a breach or violation of, or constitute
a default under, any material agreement or instrument (other than this Indenture) to which the
Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is
bound;

     (3) the Issuers or any Guarantor has paid or caused to be paid all sums payable by it under
this Indenture;

     (4) the Issuers have delivered irrevocable instructions to the Trustee to apply the deposited
money toward the payment of the Notes at fixed maturity or the redemption date, as the case may be;
and

     (5) the Issuers have delivered an Officers’ Certificate and an Opinion of Counsel to the
Trustee stating that all conditions precedent to satisfaction and discharge of this Indenture
(“Discharge”) have been satisfied.

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ARTICLE 10

AMENDMENT, SUPPLEMENT AND WAIVER

Section 10.01. Without Consent of Holders of Notes.

     Notwithstanding Section 10.02 of this Indenture, the Issuers, the Guarantors and the Trustee
may amend or supplement this Indenture or the Notes without the consent of any Holder of a Note:

     (a) to cure any ambiguity, defect or inconsistency;

     (b) to provide for uncertificated Notes in addition to or in place of certificated
Notes;

     (c) to provide for the assumption of an Issuer’s obligations to the Holders of Notes
pursuant to Article 6 hereof;

     (d) to make any change that would provide any additional rights or benefits to the
Holders of the Notes or that does not adversely affect the legal rights hereunder of any
Holder, provided that any change to conform this Indenture to the Prospectus shall not be
deemed to adversely affect the legal rights hereunder of any Holder;

     (e) to secure the Notes or the Subsidiary Guarantees pursuant to the requirements of
Section 5.12 or otherwise;

     (f) to provide for the issuance of Additional Notes in accordance with the limitations
set forth in this Indenture;

     (g) to add any additional Guarantor with respect to the Notes or to evidence the
release of any Guarantor from its Subsidiary Guarantee in accordance with Section 5.13 or
Article 11 hereof;

     (h) to comply with requirements of the SEC in order to effect or maintain the
qualification of this Indenture under the TIA; or

     (i) to evidence or provide for the acceptance of appointment under this Indenture of a
successor Trustee.

     Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental indenture, and upon receipt by the
Trustee of the documents described in Section 10.06 hereof, the Trustee shall join with the Issuers
and the Guarantors in the execution of any amended or supplemental indenture authorized or
permitted by the terms of this Indenture and to make any further appropriate agreements and
stipulations that may be therein contained, but the Trustee shall not be obligated to enter into
such amended or supplemental Indenture that affects its own rights, duties or immunities under this
Indenture or otherwise.

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Section 10.02. With Consent of Holders of Notes.

     Except as provided above in Section 10.01 and below in this Section 10.02, the Issuers, the
Guarantors and the Trustee may amend or supplement this Indenture and the Notes may be amended or
supplemented with the consent of the Holders of at least a majority in principal amount of the then
outstanding Notes (including consents obtained in connection with a purchase of, or tender offer or
exchange offer for, Notes), and, subject to Sections 7.04 and 7.07 hereof, any existing Default or
Event of Default or compliance with any provision of this Indenture or the Notes may be waived with
the consent of the Holders of a majority in principal amount of the then outstanding Notes
(including consents obtained in connection with a purchase of, tender offer or exchange offer for
Notes). However, without the consent of each Holder affected, an amendment, supplement or waiver
may not (with respect to any Notes held by a non-consenting Holder):

     (a) reduce the principal amount of Notes whose Holders must consent to an amendment,
supplement or waiver;

     (b) reduce the principal of or change the fixed maturity of any Note or alter any of the
provisions with respect to the redemption or repurchase of the Notes (except as provided in
Sections 4.09, 5.10 and 5.15 hereof);

     (c) reduce the rate of or change the time for payment of interest on any Note;

     (d) waive a Default or Event of Default in the payment of principal of or premium, if any, or
interest on the Notes (except a rescission of acceleration of the Notes by the Holders of at least
a majority in principal amount of the Notes and a waiver of the payment default that resulted from
such acceleration);

     (e) make any Note payable in money other than that stated in the Notes;

     (f) make any change in the provisions of this Indenture relating to waivers of past Defaults
or Events of Default or the rights of Holders of Notes to receive payments of principal of or
premium, if any, or interest on the Notes (except as permitted in clause (g) below);

     (g) waive a redemption or repurchase payment with respect to any Note (other than a payment
required by Sections 4.09, 5.10 and 5.15 hereof);

     (h) release any Guarantor from any of its obligations under its Subsidiary Guarantee or this
Indenture, except in accordance with the terms of this Indenture; or

     (i) make any change in the preceding amendment, supplement and waiver provisions.

     Upon the request of the Issuers accompanied by Board Resolutions authorizing their execution
of any such amended or supplemental indenture, and upon the filing with the Trustee of evidence
satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt
by the Trustee of the documents described in Section 10.06 hereof, the Trustee shall join with the
Issuers and the Guarantors in the execution of such amended or supplemental indenture, unless such
amended or supplemental indenture affects the Trustee’s own rights,

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duties or immunities under this Indenture or otherwise, in which case the Trustee may in its
discretion, but shall not be obligated to, enter into such amended or supplemental indenture.

     It shall not be necessary for the consent of the Holders of Notes under this Section 10.02 to
approve the particular form of any proposed amendment, supplement or waiver, but it shall be
sufficient if such consent approves the substance thereof.

     After an amendment, supplement or waiver under this Section becomes effective, the Company
shall mail to the Holders of Notes affected thereby a notice briefly describing the amendment,
supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such amended or supplemental
Indenture or waiver.

Section 10.03. Compliance with Trust Indenture Act.

     Every amendment or supplement to this Indenture or the Notes shall be set forth in an amended
or supplemental Indenture that complies with the TIA as then in effect.

     A consent to any amendment, supplement or waiver under this Indenture by any Holder given in
connection with a purchase, tender or exchange of such Holder’s Notes shall not be rendered invalid
by such purchase, tender or exchange.

Section 10.04. Revocation and Effect of Consents.

     Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a
Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or
portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of
the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation
before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or
waiver becomes effective in accordance with its terms and thereafter binds every Holder.

     The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to consent to any amendment, supplement or waiver. If a record
date is fixed, then notwithstanding the last sentence of the immediately preceding paragraph, those
Persons who were Holders at such record date (or their duly designated proxies), and only those
Persons, shall be entitled to consent to such amendment or waiver or revoke any consent previously
given, whether or not such Persons continue to be Holders after such record date. No consent shall
be valid or effective for more than 90 days after such record date except to the extent that the
requisite number of consents to the amendment, supplement or waiver have been obtained within such
90-day period or as set forth in the next paragraph of this Section 10.04.

     After an amendment, supplement or waiver becomes effective, it shall bind every Holder, unless
it makes a change described in any of clauses (a) through (i) of Section 10.02, in which case, the
amendment, supplement or waiver shall bind only each Holder of a Note who has

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consented to it and every subsequent Holder of a Note or portion of a Note that evidences the
same indebtedness as the consenting Holder’s Note.

Section 10.05. Notation on or Exchange of Notes.

     The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Note thereafter authenticated. The Issuers, in exchange for all Notes, may issue and the Trustee
shall authenticate new Notes that reflect the amendment, supplement or waiver.

     Failure to make the appropriate notation or issue a new Note shall not affect the validity and
effect of such amendment, supplement or waiver.

Section 10.06. Trustee to Sign Amendments, etc.

     The Trustee shall sign any amended or supplemental indenture authorized pursuant to this
Article 10 if the amendment or supplement does not adversely affect the rights, duties, liabilities
or immunities of the Trustee. In executing any amended or supplemental indenture, the Trustee
shall be entitled to receive and (subject to Section 9.01) shall be fully protected in relying
upon, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such amended
or supplemental indenture is authorized or permitted by this Indenture and that all conditions
precedent are satisfied.

ARTICLE 11

GUARANTEES OF NOTES

Section 11.01. Subsidiary Guarantees.

     Subject to this Article 11, each of the Guarantors hereby, jointly and severally,
unconditionally guarantees, on a senior unsecured basis, to each Holder of a Note authenticated and
delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the
validity and enforceability of this Indenture, the Notes held thereby and the Obligations of the
Issuers hereunder and thereunder, that: (a) the principal of, premium, if any, and interest on the
Notes will be promptly paid in full when due, subject to any applicable grace period, whether at
Stated Maturity, by acceleration, upon repurchase or redemption or otherwise, and interest on the
overdue principal of and premium, if any, and (to the extent permitted by law) interest on the
Notes, and all other payment Obligations of the Issuers to the Holders or the Trustee hereunder or
thereunder will be promptly paid in full and performed, all in accordance with the terms hereof and
thereof; and (b) in case of any extension of time of payment or renewal of any Notes or any of such
other Obligations, the same will be promptly paid in full when due or performed in accordance with
the terms of the extension or renewal, subject to any applicable grace period, whether at Stated
Maturity, by acceleration, upon repurchase or redemption or otherwise. Failing payment when so due
of any amount so guaranteed for whatever reason, the Guarantors will be jointly and severally
obligated to pay the same immediately. An Event of Default under this Indenture or the Notes shall
constitute an event of default under the Subsidiary Guarantees, and shall entitle the Holders to
accelerate the obligations of the Guarantors hereunder in the same manner and to the same extent as
the Obligations of the Issuers.

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     The Guarantors hereby agree that their obligations hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the
absence of any action to enforce the same, any waiver or consent by any Holder with respect to any
provisions hereof or thereof, the recovery of any judgment against an Issuer, any action to enforce
the same or any other circumstance (other than complete performance) which might otherwise
constitute a legal or equitable discharge or defense of a Guarantor. Each Guarantor further, to
the extent permitted by law, hereby waives diligence, presentment, demand of payment, filing of
claims with a court in the event of insolvency or bankruptcy of an Issuer, any right to require a
proceeding first against an Issuer, protest, notice and all demands whatsoever and covenants that
its Subsidiary Guarantee will not be discharged except by complete performance of the Obligations
contained in the Notes and this Indenture.

     If any Holder or the Trustee is required by any court or otherwise to return to an Issuer, the
Guarantors, or any Custodian, Trustee or other similar official acting in relation to any of the
Issuers or the Guarantors, any amount paid by an Issuer or any Guarantor to the Trustee or such
Holder, the Subsidiary Guarantees, to the extent theretofore discharged, shall be reinstated in
full force and effect. Each Guarantor agrees that it shall not be entitled to, and hereby waives,
any right of subrogation in relation to the Holders in respect of any Obligations guaranteed
hereby.

     Each Guarantor further agrees that, as between the Guarantors, on the one hand, and the
Holders and the Trustee, on the other hand, (a) the maturity of the Obligations guaranteed hereby
may be accelerated as provided in Article 7 hereof for the purposes of its Subsidiary Guarantee,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect
of the Obligations guaranteed thereby, and (b) in the event of any declaration of acceleration of
such Obligations as provided in Article 7 hereof, such Obligations (whether or not due and payable)
shall forthwith become due and payable by the Guarantor for the purpose of its Subsidiary
Guarantee. The Guarantors shall have the right to seek contribution from any non-paying Guarantor
so long as the exercise of such right does not impair the rights of the Holders under the
Subsidiary Guarantees.

Section 11.02. [Reserved].

Section 11.03. Guarantors May Consolidate, etc., on Certain Terms.

     (a) No Guarantor shall sell or otherwise dispose of all or substantially all of its properties
or assets to, or consolidate with or merge with or into (whether or not such Guarantor is the
surviving Person), another Person (other than the Company or another Guarantor), unless, (i) either
(1) the Person acquiring the properties or assets in any such sale or other disposition or the
Person formed by or surviving any such consolidation or merger (if other than such Guarantor)
unconditionally assumes all the obligations of such Guarantor, pursuant to a supplemental
indenture, substantially in the form of Exhibit C hereto, under the Notes, this Indenture and its
Subsidiary Guarantee, or (2) such sale or other disposition does not violate the provisions of
Section 5.10, and (ii) immediately after giving effect to such transaction, no Default or Event of
Default exists.

     (b) In the case of any such consolidation or merger and upon the assumption by the successor
Person, by supplemental indenture, executed and delivered to the Trustee, of the

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Subsidiary Guarantee and the due and punctual performance of all of the covenants of this
Indenture to be performed by the Guarantor, such successor Person shall succeed to and be
substituted for the Guarantor with the same effect as if it had been named herein as a Guarantor.

Section 11.04. Releases of Subsidiary Guarantees.

     The Subsidiary Guarantee of a Guarantor shall be released: (1) in connection with any sale or
other disposition of all or substantially all of the properties or assets of such Guarantor
(including by way of merger or consolidation) to a Person that is not (either before or after
giving effect to such transaction) a Restricted Subsidiary of the Company, if the sale or other
disposition does not violate the provisions of Section 5.10; (2) in connection with any sale or
other disposition of the Capital Stock of such Guarantor to a Person that is not (either before or
after giving effect to such transaction) a Restricted Subsidiary of the Company, if the sale or
other disposition does not violate the provisions of Section 5.10 and the Guarantor ceases to be a
Restricted Subsidiary of the Company as a result of such sale or disposition; (3) if the Company
designates any Restricted Subsidiary that is a Guarantor as an Unrestricted Subsidiary in
accordance with Section 5.20 of this Indenture; (4) upon Legal Defeasance or Covenant Defeasance or
Discharge in accordance with Article 9; or (5) at such time as such Guarantor ceases to guarantee
any other Indebtedness of either of the Issuers and any Indebtedness of any other Guarantor,
provided that it is then no longer an obligor with respect to any Indebtedness under any Credit
Facility.

     Upon delivery by the Company to the Trustee of an Officers’ Certificate to the effect that any
of the conditions described in the foregoing clauses (1) – (5) has occurred, the Trustee shall
execute any documents reasonably requested by the Company in order to evidence the release of any
Guarantor from its obligations under its Subsidiary Guarantee. Any Guarantor not released from its
obligations under its Subsidiary Guarantee shall remain liable for the full amount of principal of
and premium, if any, and interest on the Notes and for the other obligations of such Guarantor
under this Indenture as provided in this Article 11.

Section 11.05. Notation of Subsidiary Guarantee.

     To evidence its Subsidiary Guarantee set forth in Section 11.01, each Guarantor hereby agrees
that a notation of such Subsidiary Guarantee substantially in the form attached as Exhibit B hereto
will be endorsed by manual or facsimile signature by an Officer of such Guarantor on each Note
authenticated and delivered by the Trustee.

     Each Guarantor hereby agrees that its Subsidiary Guarantee set forth in Section 11.01 will
remain in full force and effect notwithstanding any failure to endorse on each Note a notation of
such Subsidiary Guarantee. If an Officer whose signature is on the notation of Subsidiary
Guarantee no longer holds that office at the time the Trustee authenticates the Note on which a
notation of Subsidiary Guarantee is endorsed, the Subsidiary Guarantee will be valid nevertheless.

     The delivery of any Note by the Trustee, after the authentication thereof hereunder, will
constitute due delivery of the Subsidiary Guarantee set forth in this Indenture on behalf of each
of the Guarantors.

83

 

Section 11.06. Limitation on Guarantor Liability.

     The obligations of each Guarantor under its Subsidiary Guarantee will be limited to the
maximum amount as will, after giving effect to all other contingent and fixed liabilities of such
Guarantor and after giving effect to any collections from or payments made by or on behalf of any
other Guarantor in respect of the obligations of such other Guarantor under its Subsidiary
Guarantee or pursuant to its contribution obligations under this Indenture, result in the
obligations of such Guarantor under its Subsidiary Guarantee not constituting a fraudulent
conveyance or fraudulent transfer under federal or state law and not otherwise being void or
voidable under any similar laws affecting the rights of creditors generally.

Section 11.07. “Trustee” to Include Paying Agent.

     In case at any time any Paying Agent other than the Trustee shall have been appointed and be
then acting hereunder, the term “Trustee” as used in this Article 11 shall in each case (unless the
context shall otherwise require) be construed as extending to and including such Paying Agent
within its meaning as fully and for all intents and purposes as if such Paying Agent were named in
this Article 11 in place of the Trustee.

ARTICLE 12

MISCELLANEOUS

Section 12.01. Trust Indenture Act Controls.

     If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by
TIA §318(c), such TIA-imposed duties shall control.

Section 12.02. Notices.

     Any notice or communication by an Issuer, any Guarantor or the Trustee to the others is duly
given if in writing (in the English language) and delivered in person or mailed by first class mail
(registered or certified, return receipt requested), telecopier or overnight air courier
guaranteeing next day delivery, to the others’ address:

     If to any of the Issuers or the Guarantors:

Copano Energy, L.L.C.

2727 Allen Parkway, Suite 1200

Houston, Texas 77019

Attention: Chief Financial Officer

Telecopier No.: (713) 737-9047

84

 

     with a copy to:

Vinson & Elkins L.L.P.

2500 First City Tower

1001 Fannin St.

Houston, Texas 77002-6760

Attention: Jeffrey K. Malonson

Telecopier No.: (713) 615-5627

     If to the Trustee:

U.S. Bank National Association

EX-TX-DCRE

14241 Dallas Parkway, Suite 490

Dallas, Texas 75254

Attention: Corporate Trust Department

Telecopier No.: (972) 789-9605

     An Issuer, any of the Guarantors or the Trustee, by notice to the others, may designate
additional or different addresses for subsequent notices or communications.

     All notices and communications (other than those sent to Holders) shall be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five Business Days after being
deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if telecopied; and
the next Business Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery in each case to the address shown above.

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

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

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

Section 12.03. Communication by Holders of Notes with Other Holders of Notes.

     Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their
rights under this Indenture or the Notes. The Issuers, the Trustee, the Registrar and anyone else
shall have the protection of TIA § 312(c).

85

 

Section 12.04. Certificate and Opinion as to Conditions Precedent.

     Upon any request or application by an Issuer to the Trustee to take any action under this
Indenture, such Issuer shall furnish to the Trustee:

     (a) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee (which shall include the statements set forth in Section 12.05 hereof) stating that,
in the opinion of the signers, all conditions precedent and covenants, if any, provided for
in this Indenture relating to the proposed action have been satisfied; and

     (b) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
(which shall include the statements set forth in Section 12.05 hereof) stating that, in the
opinion of such counsel, all such conditions precedent and covenants have been satisfied.

Section 12.05. Statements Required in Certificate or Opinion.

     Each certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall comply
with the provisions of TIA § 314(e) and shall include:

     (a) a statement that the person making such certificate or opinion has read such
covenant or condition;

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

     (c) a statement that, in the opinion of such person, he or she 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 satisfied; and

     (d) a statement as to whether or not, in the opinion of such person, such condition or
covenant has been satisfied.

Section 12.06. Rules by Trustee and Agents.

     The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

Section 12.07. No Personal Liability of Directors, Officers, Employees and Unitholders.

     No past, present or future director, officer, partner, employee, incorporator, manager or
unitholder or other owner of Capital Stock of the Issuers or any Guarantor, as such, shall have any
liability for any obligations of the Issuers or any Guarantor under the Notes, the Subsidiary
Guarantees or this Indenture or for any claim based on, in respect of, or by reason of, such

86

 

obligations or their creation. Each Holder of Notes by accepting a Note waives and releases
all such liability. The waiver and release are part of the consideration for issuance of the
Notes.

Section 12.08. Governing Law.

     THIS INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK.

Section 12.09. No Adverse Interpretation of Other Agreements.

     This Indenture may not be used to interpret any other indenture, loan or debt agreement of the
Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may
not be used to interpret this Indenture.

Section 12.10. Successors.

     All agreements of the Issuers and the Guarantors in this Indenture and the Notes shall bind
their respective successors. All agreements of the Trustee in this Indenture shall bind its
successors.

Section 12.11. Severability.

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

Section 12.12. Evidence of Action by Holders.

     Whenever in this Indenture it is provided that the Holders of a specified percentage in
aggregate principal amount of the Notes may take action (including the making of any demand or
request, the giving of any direction, notice, consent or waiver or the taking of any other action)
the fact that at the time of taking any such action the Holders of such specified percentage have
joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor
executed by Holders in person or by agent or proxy appointed in writing or (b) in the case of Notes
evidenced by a Global Note, by any electronic transmission or other message, whether or not in
written format, that complies with the Depository’s applicable procedures.

Section 12.13. Table of Contents, Headings, etc.

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

87

 

Section 12.14. Counterparts.

     This Indenture may be signed in counterparts and by the different parties hereto in separate
counterparts, each of which shall constitute an original and all of which together shall constitute
one and the same instrument.

[Signatures on following page]

88

 

Signatures

	 	 	 	 	 	 	 

	 	 	Copano Energy, L.L.C.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 	 	 
	 	 	Carl A. Luna	 	 
	 	 	Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Copano Energy Finance Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 

	 	 
	 	 	Carl A. Luna	 	 
	 	 	Senior Vice President and Chief Financial Officer	 	 

[Signature Page to Senior Indenture]

 

 

	 	 	 	 	 	 	 

	 	 	Guarantors	 	 
	 
	 	 	 	 	 	 
	 	 	ACP TEXAS, L.L.C.	 	 
	 	 	ALAMO CREEK PROPERTIES, L.L.C.	 	 
	 	 	CANTERA GAS COMPANY LLC	 	 
	 	 	CMW ENERGY SERVICES, L.L.C.	 	 
	 	 	COPANO EAGLE FORD LLC	 	 
	 	 	COPANO ENERGY SERVICES (TEXAS) GP, L.L.C.	 	 
	 	 	COPANO ENERGY SERVICES GP, L.L.C.	 	 
	 	 	COPANO ENERGY/MID-CONTINENT, L.L.C.	 	 
	 	 	COPANO ENERGY/ROCKY MOUNTAINS, L.L.C.	 	 
	 	 	COPANO FIELD FACILITIES/ROCKY MOUNTAINS, LLC	 	 
	 	 	COPANO FIELD SERVICES GP, L.L.C.	 	 
	 	 	COPANO FIELD SERVICES/CENTRAL GULF COAST GP, L.L.C.	 	 
	 	 	COPANO FIELD SERVICES/NORTH TEXAS, L.L.C.	 	 
	 	 	COPANO FIELD SERVICES/ROCKY MOUNTAINS, LLC	 	 
	 	 	COPANO LIBERTY, LLC	 	 
	 	 	COPANO NATURAL GAS/ROCKY MOUNTAINS, LLC	 	 
	 	 	COPANO NGL SERVICES (MARKHAM), L.L.C.	 	 
	 	 	COPANO NGL SERVICES GP, L.L.C.	 	 
	 	 	COPANO PIPELINES (TEXAS) GP, L.L.C.	 	 
	 	 	COPANO PIPELINES GP, L.L.C.	 	 
	 	 	COPANO PIPELINES/NORTH TEXAS, L.L.C.	 	 
	 	 	COPANO PIPELINES/ROCKY MOUNTAINS, LLC	 	 
	 	 	COPANO PIPELINES/VICTORIA, L.L.C.	 	 
	 	 	COPANO PROCESSING GP, L.L.C.	 	 
	 	 	COPANO PROCESSING/LOUISIANA, LLC	 	 
	 	 	COPANO/RED RIVER GATHERING GP, L.L.C.	 	 
	 	 	COPANO/WEBB-DUVAL PIPELINE GP, L.L.C.	 	 
	 	 	CPNO SERVICES GP, L.L.C.	 	 
	 	 	ESTES COVE FACILITIES, L.L.C.	 	 
	 	 	GREENWOOD GATHERING, L.L.C.	 	 
	 	 	NUECES GATHERING, L.L.C.	 	 
	 	 	RIVER VIEW PIPELINES, L.L.C.	 	 
	 	 	SCISSORTAIL ENERGY, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 

	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 

[Signature Page to Senior Indenture]

 

 

	 	 	 	 	 	 	 

	 	 	Copano Processing, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Processing GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 

	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Copano NGL Services, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano NGL Services GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	CHC LP Holdings, L.L.C.	 	 
	 	 	Copano Houston Central, L.L.C.	 	 
	 	 	Copano Pipelines Group, L.L.C.	 	 
	 	 	Copano/Red River Gathering LP Holdings, L.L.C.	 	 
	 	 	CPG LP Holdings, L.L.C.	 	 
	 	 	CPNO Services LP Holdings, L.L.C.	 	 
	 	 	CWDPL LP Holdings, L.L.C.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Copano General Partners, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 

[Signature Page to Senior Indenture]

 

 

	 	 	 	 	 	 	 

	 	 	Copano Field Services/Agua Dulce, L.P.	 	 
	 	 	Copano Field Services/Copano Bay, L.P.	 	 
	 	 	Copano Field Services/Karnes, L.P.	 	 
	 	 	Copano Field Services/Live Oak, L.P.	 	 
	 	 	Copano Field Services/South Texas, L.P.	 	 
	 	 	Copano Field Services/Upper Gulf Coast, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Field Services GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 

	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Copano Pipelines/Hebbronville, L.P.	 	 
	 	 	Copano Pipelines/South Texas, L.P.	 	 
	 	 	Copano Pipelines/Upper Gulf Coast, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Pipelines GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Copano Pipelines/Texas Gulf Coast, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Pipelines (Texas) GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 

[Signature Page to Senior Indenture]

 

 

	 	 	 	 	 	 	 

	 	 	Copano Field Services/Central Gulf Coast, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Field Services/Central Gulf 

Coast GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 

	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	Copano Energy Services/Upper Gulf Coast, L.P.
	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Energy Services GP, L.L.C.,

General Partner	 	 
	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	Copano Energy Services/Texas Gulf Coast, L.P.
	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Energy Services (Texas) GP, 

L.L.C., General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Copano/Webb-Duval Pipeline, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano/Webb Duval Pipeline GP, L.L.C., 

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 

[Signature Page to Senior Indenture]

 

 

	 	 	 	 	 	 	 

	 	 	CPNO Services, L.P.	 	 
	 	 	Copano Risk Management, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	CPNO Services GP, L.L.C., 
General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 

	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Cimmarron Gathering, LP	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano/Red River Gathering GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Carl A. Luna	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 

[Signature Page to Senior Indenture]

 

 

	 	 	 	 	 	 	 

	 	 	U.S. Bank National Association, as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Israel Lugo	 	 
	 

	 	 	 	 

	 	 
	 	 	Name: Israel Lugo	 	 
	 	 	Title: Vice President	 	 

[Signature Page to Senior Indenture]

 

 

Schedule A

Guarantors

Name

 

ACP Texas, L.L.C.

Alamo Creek Properties, L.L.C.

Cantera Gas Company, LLC

CHC LP Holdings, L.L.C.

Cimmarron Gathering, LP

CMW Energy Services, L.L.C.

Copano Eagle Ford LLC

Copano Energy/Mid-Continent, L.L.C.

Copano Energy/Rocky Mountains, L.L.C.

Copano Energy Services GP, L.L.C.

Copano Energy Services (Texas) GP, L.L.C.

Copano Energy Services/Texas Gulf Coast, L.P.

Copano Energy Services/Upper Gulf Coast, L.P.

Copano Field Facilities/Rocky Mountains, LLC

Copano Field Services/Agua Dulce, L.P.

Copano Field Services/Central Gulf Coast GP, L.L.C.

Copano Field Services/Central Gulf Coast, L.P.

Copano Field Services/Copano Bay, L.P.

Copano Field Services GP, L.L.C.

Copano Field Services/Karnes, L.P.

Copano Field Services/Live Oak, L.P.

Copano Field Services/North Texas, L.L.C.

Copano Field Services/Rocky Mountains, LLC

Copano Field Services/South Texas, L.P.

Copano Field Services/Upper Gulf Coast, L.P.

Copano Houston Central, L.L.C.

Copano Liberty, LLC

Copano General Partners, Inc.

Copano Natural Gas/Rocky Mountains, LLC

Copano NGL Services GP, L.L.C.

Copano NGL Services, L.P.

Copano NGL Services (Markham), L.L.C.

Copano Pipelines Group, L.L.C.

Copano Pipelines GP, L.L.C.

Copano Pipelines/Hebbronville, L.P.

Copano Pipelines/North Texas, L.L.C.

Copano Pipelines/Rocky Mountains, LLC

Copano Pipelines/South Texas, L.P.

Copano Pipelines (Texas) GP, L.L.C.

Copano Pipelines/Texas Gulf Coast, L.P.

Copano Pipelines/Upper Gulf Coast, L.P.

Schedule A-1

 

Name

 

Copano Pipelines/Victoria, L.L.C.

Copano Processing/Louisiana, LLC

Copano Processing GP, L.L.C.

Copano Processing, L.P.

Copano/Red River Gathering GP, L.L.C.

Copano/Red River Gathering LP Holdings, L.L.C.

Copano Risk Management, L.P.

Copano/Webb-Duval Pipeline GP, L.L.C.

Copano/Webb-Duval Pipeline, L.P.

CPG LP Holdings, L.L.C.

CPNO Services GP, L.L.C.

CPNO Services, L.P.

CPNO Services LP Holdings, L.L.C.

CWDPL LP Holdings, L.L.C.

Estes Cove Facilities, L.L.C.

Greenwood Gathering, L.L.C.

Nueces Gathering, L.L.C.

River View Pipelines, L.L.C.

ScissorTail Energy, LLC

Schedule A-2

 

Exhibit A

FORM OF NOTE

(Face of Note)

THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN
WHOLE OR IN PART FOR A NOTE REGISTERED, AND NO TRANSFER OF THIS NOTE IN WHOLE OR IN PART MAY BE
REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITORY OR A NOMINEE THEREOF, EXCEPT IN
THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE ISSUERS OR THEIR AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.(1)

	 	 	 

	No.

	 	                           $ 

CUSIP No. 217203AE8

ISIN No. US217203AE82

COPANO ENERGY, L.L.C.

COPANO ENERGY FINANCE CORPORATION

7.125% Senior Note due 2021

     Copano Energy, L.L.C., a Delaware limited liability company, and Copano Energy Finance
Corporation, a Delaware corporation, jointly and severally promise to pay to __________, or
registered assigns, the principal sum of _________ Dollars on April 1, 2021 [or such greater or
lesser amount as may be indicated on Schedule A hereto].1

     Interest Payment Dates: April 1 and October 1.

     Record Dates: March 15 and September 15.

 

			
	1	 	If this Note is a Global Note, add this provision.

Exhibit A-1

 

     Additional provisions of this Note are set forth on the other side of this Note.

                              Copano Energy, L.L.C.

	 	 	 	 	 	 	 

	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Copano Energy Finance Corporation
	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 

TRUSTEE’S CERTIFICATE OF

AUTHENTICATION

U.S. Bank National Association,

as Trustee, certifies that

this is one of the Notes

referred to in the Indenture.

	 	 	 	 	 

	By
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

Dated:

Exhibit A-2

 

[FORM OF REVERSE SIDE OF NOTE]

7.125% Senior Note due 2021

     Capitalized terms used herein but not defined shall have the meanings assigned to them in the
Indenture referred to below unless otherwise indicated.

     1. Interest. Copano Energy, L.L.C., a Delaware limited liability company (the
”Company”), and Copano Energy Finance Corporation, a Delaware corporation (the ”Finance Corp.” and,
together with the Company, the “Issuers”), jointly and severally promise to pay interest on the
principal amount of this Note at 7.125% per annum from April 5, 2011 until maturity. The Issuers
will pay interest semi-annually in arrears on April 1 and October 1 of each year, commencing
October 1, 2011, or if any such day is not a Business Day, on the next succeeding Business Day
(each an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to
which interest has been paid or, if no interest has been paid, from the date of original issuance;
provided that if there is no existing Default or Event of Default in the payment of interest, and
if this Note is authenticated between a record date referred to on the face hereof and the next
succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment
Date, except in the case of the original issuance of Notes, in which case interest shall accrue
from the date of authentication. The Issuers shall pay interest (including post-petition interest
in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to
time on demand at a rate that is the rate then in effect; it shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest (without regard to any applicable grace periods) from time to time on demand at the same
rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve
30-day months.

     2. Method of Payment. The Issuers will pay interest on the Notes (except defaulted
interest) to the Persons who are registered Holders of Notes at the close of business on the March
15 or September 15 next preceding the Interest Payment Date, even if such Notes are cancelled after
such record date and on or before such Interest Payment Date, except as provided in Section 3.12 of
the Indenture with respect to defaulted interest. Holders must surrender Notes to the Paying Agent
to collect payments of principal and premium, if any, together with accrued and unpaid interest,
due at maturity. The Notes will be payable as to principal, premium, if any, and interest at the
office or agency of the Issuers maintained for such purpose within the City and State of New York,
or, at the option of the Issuers, payment of interest may be made by check mailed to the Holders at
their addresses set forth in the register of Holders, and provided that payment by wire transfer of
immediately available funds will be required with respect to any amounts due on all Global Notes
and all other Notes the Holders of which shall have provided wire transfer instructions to the
Issuers or the Paying Agent. Such payment shall be in such coin or currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts.

     3. Paying Agent and Registrar. Initially, U.S. Bank National Association, the Trustee
under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying
Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in
any such capacity.

Exhibit A-3

 

     4. Indenture. The Issuers issued the Notes under a Senior Indenture dated as of April
5, 2011 (the “Base Indenture”) among the Issuers, the Guarantors and the Trustee, as amended and
supplemented by the First Supplemental Indenture of even date therewith (the Base Indenture, as so
amended and supplemented, being called the “Indenture”). The terms of the Notes include those
stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture
Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms,
and Holders are referred to the Indenture and such Act for a statement of such terms. The Notes
are unsecured senior obligations of the Issuers limited to $360,000,000 aggregate principal amount
in the case of Notes issued on the Issue Date (as defined in the Indenture).

     5. Optional Redemption.

     (a) Except as set forth in subparagraphs (b), (c) and (d) of this Paragraph 5, the Issuers
shall not have the option to redeem the Notes prior to April 1, 2016. On or after April 1, 2016,
the Issuers shall have the option to redeem the Notes, in whole or in part at any time, upon prior
notice as set forth in Paragraph 8, at the redemption prices (expressed as percentages of principal
amount) set forth below, plus accrued and unpaid interest, if any, to the applicable redemption
date (subject to the right of Holders of record on the relevant record date to receive interest due
on an Interest Payment Date that is on or prior to the redemption date), if redeemed during the
twelve-month period beginning on April 1 of the years indicated below:

	 	 	 	 	 
	YEAR	 	PERCENTAGE
	2016
	 	 	103.563	%
	2017
	 	 	102.375	%
	2018
	 	 	101.188	%
	2019 and thereafter
	 	 	100.000	%

     (b) Notwithstanding the provisions of subparagraph (a) of this Paragraph 5, at any time prior
to April 1, 2014, the Issuers may on any one or more occasions redeem up to 35% of the aggregate
principal amount of Notes (including any Additional Notes) issued under the Indenture at a
redemption price of 107.125% of the principal amount thereof, plus accrued and unpaid interest, if
any, thereon to the redemption date (subject to the right of Holders of record on the relevant
record date to receive interest due on an Interest Payment Date that is on or prior to the
redemption date), with the net cash proceeds of one or more Equity Offerings by the Company;
provided that (i) at least 65% of the aggregate principal amount of Notes (including any Additional
Notes) issued under the Indenture remains outstanding immediately after the occurrence of each such
redemption (excluding any Notes held by the Company and its Subsidiaries) and (ii) each such
redemption occurs within 120 days of the date of the closing of each such Equity Offering.

     (c) Prior to April 1, 2016, the Issuers may redeem all or part of the notes upon not less than
30 nor more than 60 days’ notice, at a redemption price equal to the sum of (1) the principal
amount thereof, plus (2) accrued and unpaid interest, if any, to the redemption date (subject to
the right of Holders of record on the relevant record date to receive interest due on an Interest
Payment Date that is on or prior to the redemption date), plus (3) the Make Whole Premium at the
redemption date.

Exhibit A-4

 

     (d) Following a Change of Control Offer, the Notes are also subject to redemption, at the
Company’s option, subject to the conditions and as provided in Section 5.15(7) of the Indenture.

     6. Mandatory Redemption.

     Except as set forth in Paragraph 7 below, neither of the Issuers shall be required to make
mandatory redemption or sinking fund payments with respect to the Notes or to repurchase the Notes
at the option of the Holders.

     7. Repurchase at Option of Holder.

     (a) Within 30 days following the occurrence of a Change of Control, the Company shall make an
offer (a “Change of Control Offer”) to repurchase all or any part (equal to $2,000 or an integral
multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase price equal to 101% of
the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest, if any, to
the date of settlement (the “Change of Control Settlement Date”), subject to the right of Holders
of record on the relevant record date to receive interest due on an Interest Payment Date that is
on or prior to the Change of Control Settlement Date. Within 30 days following a Change of
Control, the Company shall mail a notice of the Change of Control Offer to each Holder and the
Trustee describing the transaction that constitutes the Change of Control and setting forth the
procedures governing the Change of Control Offer as required by Section 5.15 of the Indenture.

     (b) On the 361st day after an Asset Sale, if the aggregate amount of Excess Proceeds then
exceeds $20.0 million, the Company shall commence an offer to all Holders of Notes (an “Asset Sale
Offer”) pursuant to Section 4.09 of the Indenture, and to all holders of any Pari Passu
Indebtedness then outstanding, to purchase on a pro rata basis the maximum principal amount of
Notes and such Pari Passu Indebtedness that may be purchased out of the Excess Proceeds, at an
offer price in cash in an amount equal to 100% of the principal amount of the Notes plus accrued
and unpaid interest, if any, thereon to the date of settlement, subject to the right of Holders of
record on the relevant record date to receive interest due on an Interest Payment Date that is on
or prior to the Change of Control Settlement Date, in accordance with the procedures set forth in
the Indenture. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the
Company or any Restricted Subsidiary may use such remaining Excess Proceeds for any purpose not
otherwise prohibited by the Indenture. If the aggregate principal amount of Notes surrendered by
Holders thereof exceeds the amount of Excess Proceeds allocated to the Notes, the Trustee shall
select the Notes to be purchased on a pro rata basis (with such adjustments as may be deemed
appropriate by the Trustee so that only Notes in denominations of $2,000, or integral multiples of
$1,000 in excess thereof, shall be purchased) on the basis of the aggregate principal amount of
tendered Notes (or in the case of Notes represented by a Global Note, the Trustee will select Notes
for purchase by such method as DTC may require). Holders of Notes that are the subject of an offer
to purchase will receive an Asset Sale Offer from the Company prior to any related purchase date
and may elect to have such Notes purchased by completing the form entitled “Option of Holder to
Elect Purchase” on the reverse of the Notes.

Exhibit A-5

 

     8. Notice of Redemption. Notice of redemption will be mailed at least 30 days but not
more than 60 days (except as otherwise provided in the Indenture if the notice is issued in
connection with a Legal Defeasance, Covenant Defeasance or Discharge) before the redemption date to
each Holder whose Notes are to be redeemed at its registered address. If mailed in the manner
provided for in Section 4.03 of the Indenture, the notice of optional redemption shall be
conclusively presumed to have been given whether or not a Holder receives such notice. Failure to
give timely notice or any defect in the notice shall not affect the validity of the redemption.
Notes in denominations larger than $2,000 may be redeemed in part but only in whole multiples of
$1,000, unless all of the Notes held by a Holder are to be redeemed. On and after the redemption
date interest ceases to accrue on Notes or portions thereof called for redemption.

     9. Guarantees. The payment by the Issuers of the principal of, premium, if any, and
interest on the Notes is fully and unconditionally guaranteed on a joint and several senior
unsecured basis by each of the Guarantors to the extent set forth in the Indenture.

     10. Denominations, Transfer, Exchange. The Notes are in registered form without
coupons in denominations of $2,000 and integral multiples of $1,000. The transfer of Notes may be
registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee
may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents, and the Company may require a Holder to pay any taxes due on transfer or exchange. The
Issuers need not exchange or register the transfer of any Note or portion of a Note selected for
redemption, except for the unredeemed portion of any Note being redeemed in part. Also, they need
not exchange or register the transfer of any Notes for a period of 15 days before a selection of
Notes to be redeemed.

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

     12. Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture or
the Notes may be amended or supplemented with the consent of the Holders of at least a majority in
principal amount of the then outstanding Notes, and any existing default or compliance with any
provision of the Indenture or the Notes may be waived with the consent of the Holders of a majority
in principal amount of the then outstanding Notes. Without the consent of any Holder of a Note,
the Indenture or the Notes may be amended or supplemented (1) to cure any ambiguity, defect or
inconsistency, (2) to provide for uncertificated Notes in addition to or in place of certificated
Notes, (3) to provide for the assumption of an Issuer’s obligations to Holders of the Notes
pursuant to Article 6 of the Indenture, (4) to make any change that would provide any additional
rights or benefits to the Holders of the Notes or that does not adversely affect the legal rights
under the Indenture of any such Holder, provided that any change to conform the Indenture to the
Prospectus shall not be deemed to adversely affect the legal rights under the Indenture of any
Holder, (5) to secure the Notes or the Subsidiary Guarantees pursuant to Section 5.12 of the
Indenture or otherwise, (6) to provide for the issuance of Additional Notes in accordance with the
limitations set forth in the Indenture, (7) to add any additional Guarantor with respect to the
Notes or to evidence the release of any Guarantor from its Subsidiary Guarantee, in each case as
provided in the Indenture, (8) to comply with the requirements of the SEC in order to effect or
maintain the qualification of the Indenture under the Trust Indenture

Exhibit A-6

 

Act or (9) to evidence or provide for the acceptance of appointment under the Indenture of a
successor Trustee.

     13. Defaults and Remedies. Events of Default include: (i) default for 30 days in the
payment when due of interest on the Notes; (ii) default in payment when due of the principal of or
premium, if any, on the Notes when due at Stated Maturity, upon optional redemption, upon required
repurchase, upon declaration or otherwise; (iii) failure by the Company to comply with Section
4.09, 5.10, 5.15 or 6.01 of the Indenture; (iv) failure by the Company for 90 days after notice to
comply with Section 5.03 of the Indenture; (v) failure by the Company for 60 days after notice to
comply with any of its other agreements in the Indenture or the Notes; (vi) default under any
mortgage, indenture or instrument under which there may be issued or by which there may be secured
or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted
Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted
Subsidiaries), whether such Indebtedness or guarantee now exists or is created after the Issue
Date, if such default (a) is caused by a failure to pay principal of, or premium or interest, if
any, on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness
(a “Payment Default”) or (b) results in the acceleration of such Indebtedness prior to its Stated
Maturity and, in each case, the principal amount of any such Indebtedness, together with the
principal amount of any other such Indebtedness under which there has been a Payment Default or the
maturity of which has been so accelerated, aggregates in excess of $20.0 million provided that if
any such Payment Default is cured or waived or any such acceleration rescinded, or such
Indebtedness is repaid, within a period of 60 days from the continuation of such Payment Default
beyond the applicable grace period or the occurrence of such acceleration, as the case may be, such
Event of Default and any consequential acceleration of the Notes shall be automatically rescinded,
so long as such rescission does not conflict with any judgment or decree; (vii) failure by the
Company or any of its Subsidiaries to pay final judgments aggregating in excess of $20.0 million
(to the extent not covered by insurance by a reputable and creditworthy insurer as to which the
insurer has not disclaimed coverage), which judgments are not paid, discharged or stayed for a
period of 60 days; (viii) except as permitted by the Indenture, any Subsidiary Guarantee is held in
any judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full force
and effect or any Guarantor, or any Person acting on behalf of any Guarantor, denies or disaffirms
its obligations under its Subsidiary Guarantee; and (ix) certain events of bankruptcy, insolvency
or reorganization with respect to the Company, Finance Corp., any of the Company’s Restricted
Subsidiaries that is a Significant Subsidiary of the Company or any group of Restricted
Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary of the
Company as specified in Section 7.01(i) or 7.01(j) of the Indenture. If any Event of Default
occurs and is continuing, the Trustee, by notice to the Issuers, or the Holders of at least 25% in
principal amount of the then outstanding Notes, by written notice to the Issuers and the Trustee,
may declare all the Notes to be due and payable immediately. Notwithstanding the preceding, in the
case of an Event of Default arising from such events of bankruptcy, insolvency or reorganization
described in Section 7.01(i) or 7.01(j) of the Indenture, all outstanding Notes will become
immediately due and payable without further action or notice. Holders may not enforce the
Indenture or the Notes except as provided in the Indenture. Subject to certain limitations,
Holders of a majority in principal amount of the then outstanding Notes may direct the Trustee in
its exercise of any trust or power conferred on it. The Trustee may withhold from Holders of the
Notes notice of any continuing Default or Event of Default (except a Default or Event of Default
relating to the payment of principal, interest or

Exhibit A-7

 

premium) if it determines that withholding notice is in their interest. The Holders of a
majority in principal amount of the Notes then outstanding by notice to the Trustee may on behalf
of the Holders of all of the Notes waive any existing Default or Event of Default and its
consequences under the Indenture except a continuing Default or Event of Default in the payment of
the principal of, premium, if any, or interest on the Notes. The Issuers are required to deliver
to the Trustee annually an Officers’ Certificate regarding compliance with the Indenture, and, so
long as any Notes are outstanding, the Issuers are required upon becoming aware of any Default or
Event of Default, to deliver to the Trustee a statement specifying such Default or Event of
Default.

     14. Defeasance and Discharge. The Notes are subject to defeasance and discharge upon
the terms and conditions specified in the Indenture.

     15. No Recourse Against Others. No past, present or future director, officer,
partner, employee, incorporator, manager or unitholder or other owner of Capital Stock of the
Issuers or any Guarantor, as such, shall have any liability for any obligations of the Issuers or
any Guarantor under the Notes, the Subsidiary Guarantees or the Indenture or for any claim based
on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a
Note waives and releases all such liability. The waiver and release are part of the consideration
for the issuance of the Notes.

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

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

     18. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Issuers have caused CUSIP numbers and corresponding
ISIN numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of
redemption as a convenience to Holders. No representation is made as to the accuracy of such
numbers either as printed on the Notes or as contained in any notice of redemption and reliance
may be placed only on the other identification numbers placed thereon.

     19. Governing Law. THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     20. Successors. In the event a successor assumes all the obligations of an Issuer
under the Notes and the Indenture, pursuant to the terms thereof, such Issuer will be released from
all such obligations.

Exhibit A-8

 

     The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to:

Copano Energy, L.L.C.

2727 Allen Parkway, Suite 1200

Houston, Texas 77019

Attention: Chief Financial Officer

Exhibit A-9

 

ASSIGNMENT FORM

          To assign this Note, fill in the form below:

          I or we assign and transfer this Note to

 

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

 

(Insert assignee’s soc. sec. or tax I.D. No.)

and irrevocably appoint __________________ agent to transfer this Note on the books of the Issuers.
The agent may substitute another to act for him.

	 	 	 	 	 	 	 	 	 	 	 

	Date:	 	 	 	Your Signature:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

	 	 
	 	 	 	 	 	 	 	 	Sign exactly as your name appears on the other side of this Note.	 	 

Signature Guarantee:

	 	 	 

	 

(Signature must be guaranteed)

	 	 

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

Exhibit A-10

 

OPTION OF HOLDER TO ELECT PURCHASE

     If you want to elect to have this Note purchased by the Company pursuant to Section 5.10 or
5.15 of the Indenture, check the box below:

          o Section 5.10               o Section 5.15

     If you want to elect to have only part of this Note purchased by the Company pursuant to
Section 5.10 or Section 5.15 of the Indenture, state the amount (in minimum denomination of $2,000
or integral multiples of $1,000 in excess thereof) you elect to have purchased: $____________

	 	 	 	 	 	 	 	 	 	 	 

	Date:	 	 	 	Your Signature:	 	 	 	 
	 

	 	 

	 	 
	 	 	 	 

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

Soc. Sec. or Tax Identification No.:                     

	 	 	 	 	 

	Signature Guarantee:
	 	 	 	 
	 

	 	 

(signature must be guaranteed)
	 	 

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

Exhibit A-11

 

[TO BE ATTACHED TO GLOBAL NOTE]

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE

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

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal	 	 
	 	 	Amount of	 	Amount of	 	Amount of this	 	Signature of
	 	 	decrease in	 	increase in	 	Global Note	 	authorized
	 	 	Principal	 	Principal	 	following such	 	officer
	 	 	Amount of this	 	Amount of this	 	decrease or	 	of Trustee or
	Date	 	Global Note	 	Global Note	 	increase	 	Notes Custodian
	 
	 	 
	 	 
	 	 
	 	 

Exhibit A-12

 

Exhibit B

FORM OF NOTATION OF SUBSIDIARY GUARANTEE

     Subject to the limitations set forth in the Indenture (the “Indenture”) referred to in the
Note upon which this notation is endorsed, each of the entities listed on Schedule A thereto
(hereinafter referred to as the “Guarantors,” which term includes any successor or additional
Guarantor under the Indenture) has unconditionally guaranteed: (a) the due and punctual payment of
the principal of, premium, if any, and interest on the Notes, whether at maturity or interest
payment date, by acceleration, call for redemption or otherwise, (b) the due and punctual payment
of interest on the overdue principal of, premium, if any, and interest if lawful, on the Notes, (c)
the due and punctual payment or performance of all other payment Obligations of the Issuers to the
Holders or the Trustee, all in accordance with the terms set forth in the Indenture, and (d) in
case of any extension of time of payment or renewal of any Notes or any of such other Obligations,
the prompt payment in full thereof when due or performance thereof in accordance with the terms of
the extension or renewal, whether at Stated Maturity, by acceleration or otherwise.

     The Subsidiary Guarantees are subject to the limitations set forth in the Indenture, including
Article 11 thereof.

     The Guarantors may be released from their Subsidiary Guarantees upon the terms and subject to
the conditions provided in the Indenture.

Exhibit B-1

 

	 	 	 	 	 	 	 

	 	 	Guarantors	 	 
	 
	 	 	 	 
	 	 	ACP TEXAS, L.L.C.	 	 
	 	 	ALAMO CREEK PROPERTIES, L.L.C.	 	 
	 	 	CANTERA GAS COMPANY LLC	 	 
	 	 	CMW ENERGY SERVICES, L.L.C.	 	 
	 	 	COPANO EAGLE FORD LLC	 	 
	 	 	COPANO ENERGY SERVICES (TEXAS) GP, L.L.C.	 	 
	 	 	COPANO ENERGY SERVICES GP, L.L.C.	 	 
	 	 	COPANO ENERGY/MID-CONTINENT, L.L.C.	 	 
	 	 	COPANO ENERGY/ROCKY MOUNTAINS, L.L.C.	 	 
	 	 	COPANO FIELD FACILITIES/ROCKY MOUNTAINS, LLC	 	 
	 	 	COPANO FIELD SERVICES GP, L.L.C.	 	 
	 	 	COPANO FIELD SERVICES/CENTRAL GULF COAST GP, L.L.C.	 	 
	 	 	COPANO FIELD SERVICES/NORTH TEXAS, L.L.C.	 	 
	 	 	COPANO FIELD SERVICES/ROCKY MOUNTAINS, LLC	 	 
	 	 	COPANO LIBERTY, LLC	 	 
	 	 	COPANO NATURAL GAS/ROCKY MOUNTAINS, LLC	 	 
	 	 	COPANO NGL SERVICES (MARKHAM), L.L.C.	 	 
	 	 	COPANO NGL SERVICES GP, L.L.C.	 	 
	 	 	COPANO PIPELINES (TEXAS) GP, L.L.C.	 	 
	 	 	COPANO PIPELINES GP, L.L.C.	 	 
	 	 	COPANO PIPELINES/NORTH TEXAS, L.L.C.	 	 
	 	 	COPANO PIPELINES/ROCKY MOUNTAINS, LLC	 	 
	 	 	COPANO PIPELINES/VICTORIA, L.L.C.	 	 
	 	 	COPANO PROCESSING GP, L.L.C.	 	 
	 	 	COPANO PROCESSING/LOUISIANA, LLC	 	 
	 	 	COPANO/RED RIVER GATHERING GP, L.L.C.	 	 
	 	 	COPANO/WEBB-DUVAL PIPELINE GP, L.L.C.	 	 
	 	 	CPNO SERVICES GP, L.L.C.	 	 
	 	 	ESTES COVE FACILITIES, L.L.C.	 	 
	 	 	GREENWOOD GATHERING, L.L.C.	 	 
	 	 	NUECES GATHERING, L.L.C.	 	 
	 	 	RIVER VIEW PIPELINES, L.L.C.	 	 
	 	 	SCISSORTAIL ENERGY, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Carl A. Luna
	 	 
	 

	 	 	 	Senior Vice President and Chief Financial Officer	 	 

Exhibit B-2

 

	 	 	 	 	 	 	 

	 	 	Copano Processing, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Processing GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Copano NGL Services, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano NGL Services GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	CHC LP Holdings, L.L.C.	 	 
	 	 	Copano Houston Central, L.L.C.	 	 
	 	 	Copano Pipelines Group, L.L.C.	 	 
	 	 	Copano/Red River Gathering LP Holdings, L.L.C.	 	 
	 	 	CPG LP Holdings, L.L.C.	 	 
	 	 	CPNO Services LP Holdings, L.L.C.	 	 
	 	 	CWDPL LP Holdings, L.L.C.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Copano General Partners, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 

Exhibit B-3

 

	 	 	 	 	 	 	 

	 	 	Copano Field Services/Agua Dulce, L.P.	 	 
	 	 	Copano Field Services/Copano Bay, L.P.	 	 
	 	 	Copano Field Services/Karnes, L.P.	 	 
	 	 	Copano Field Services/Live Oak, L.P.	 	 
	 	 	Copano Field Services/South Texas, L.P.	 	 
	 	 	Copano Field Services/Upper Gulf Coast, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Field Services GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 	Copano Pipelines/Hebbronville, L.P.	 	 
	 	 	Copano Pipelines/South Texas, L.P.	 	 
	 	 	Copano Pipelines/Upper Gulf Coast, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Pipelines GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	Copano Pipelines/Texas Gulf Coast, L.P.
	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Pipelines (Texas) GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 

Exhibit B-4

 

	 	 	 	 	 	 	 

	 

	 	Copano Field Services/Central Gulf Coast, L.P.
	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Field Services/Central Gulf 

Coast GP, L.L.C., General Partner	 	 
	 
	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	Copano Energy Services/Upper Gulf Coast, L.P.
	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano Energy Services GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	Copano Energy Services/Texas Gulf Coast, L.P.
	 	 
	 
	 	 	 	 
	 

	 	By
	 	Copano Energy Services (Texas) GP, 

L.L.C., General Partner	 	 
	 
	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	Copano/Webb-Duval Pipeline, L.P.
	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano/Webb Duval Pipeline GP, L.L.C., 

General Partner	 	 
	 
	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 

Exhibit B-5

 

	 	 	 	 	 	 	 

	 

	 	CPNO Services, L.P.
	 	 
	 

	 	Copano Risk Management, L.P.
	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	CPNO Services GP, L.L.C., 

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	Cimmarron Gathering, LP
	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	Copano/Red River Gathering GP, L.L.C.,

General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carl A. Luna	 	 
	 	 	Title: Senior Vice President and Chief Financial Officer	 	 

Exhibit B-6

 

Exhibit C

 

COPANO ENERGY, L.L.C.

COPANO ENERGY FINANCE CORPORATION

and

the Guarantors named herein

 

7.125% SENIOR NOTES DUE 2021

 

 

FORM OF SUPPLEMENTAL INDENTURE

DATED AS OF ____________ __, ____

 

U.S. BANK NATIONAL ASSOCIATION,

Trustee

 

 

Exhibit C-1

 

     This SUPPLEMENTAL INDENTURE, dated as of ___________ __, ____ is among Copano Energy, L.L.C.,
a Delaware limited liability company (the “Company”), Copano Energy Finance Corporation, a Delaware
corporation (“Finance Corp.” and, together with the Company, the “Issuers”), each of the parties
identified under the caption “Guarantors” on the signature pages hereof (the “Guarantors”) and U.S.
Bank National Association, a national banking association, as Trustee (the “Trustee”).

RECITALS

     WHEREAS, the Issuers, the initial Guarantors and the Trustee entered into a Senior Indenture,
dated as of April 5, 2011 (the “Base Indenture”), as amended and supplemented by the First
Supplemental Indenture of even date therewith (the Base Indenture, as so amended and supplemented,
being called the “Indenture”), pursuant to which the Company has issued $__________ in principal
amount of 7.125% Senior Notes due 2021 (the “Notes”);

     WHEREAS, Section 10.01(g) of the Indenture provides that the Issuers, the Guarantors and the
Trustee may amend or supplement the Indenture in order to comply with Section 5.13 or 11.03
thereof, without the consent of the Holders of the Notes; and

     WHEREAS, all acts and things prescribed by the Indenture, by law and by the Certificate of
Incorporation and the Bylaws (or comparable constituent documents) of the Issuers, of the
Guarantors and of the Trustee necessary to make this Supplemental Indenture a valid instrument
legally binding on the Issuers, the Guarantors and the Trustee, in accordance with its terms, have
been duly done and performed;

     NOW, THEREFORE, to comply with the provisions of the Indenture and in consideration of the
above premises, the Issuers, the Guarantors and the Trustee covenant and agree for the equal and
proportionate benefit of the respective Holders of the Notes as follows:

ARTICLE 1

     Section 1.01. This Supplemental Indenture is supplemental to the Indenture and does and shall
be deemed to form a part of, and shall be construed in connection with and as part of, the
Indenture for any and all purposes.

     Section 1.02. This Supplemental Indenture shall become effective immediately upon its
execution and delivery by each of the Issuers, the Guarantors and the Trustee.

ARTICLE 2

     From this date, in accordance with Section 5.13 or 11.03 and by executing this Supplemental
Indenture, the Guarantors whose signatures appear below are subject to the provisions of the
Indenture to the extent provided for in Article 11 thereunder.

ARTICLE 3

     Section 3.01. Except as specifically modified herein, the Indenture and the Notes are in all
respects ratified and confirmed (mutatis mutandis) and shall remain in full force and effect in

Exhibit C-2

 

accordance with their terms with all capitalized terms used herein without definition having
the same respective meanings ascribed to them as in the Indenture.

     Section 3.02. Except as otherwise expressly provided herein, no duties, responsibilities or
liabilities are assumed, or shall be construed to be assumed, by the Trustee by reason of this
Supplemental Indenture. This Supplemental Indenture is executed and accepted by the Trustee
subject to all the terms and conditions set forth in the Indenture with the same force and effect
as if those terms and conditions were repeated at length herein and made applicable to the Trustee
with respect hereto.

     Section 3.03. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK.

     Section 3.04. The parties may sign any number of copies of this Supplemental Indenture. Each
signed copy shall be an original, but all of such executed copies together shall represent the same
agreement.

[NEXT PAGE IS SIGNATURE PAGE]

Exhibit C-3

 

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

	 	 	 	 	 	 	 	 	 

	 	 	Copano Energy, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Copano Energy Finance Corporation	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 	 	GUARANTORS	 	 
	 	 	[                                                              
                  ]	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	U.S. Bank National Association,

as Trustee	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

Exhibit C-4

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