Document:

exv4w1

Exhibit 4.1

FOURTH SUPPLEMENTAL INDENTURE

     This FOURTH SUPPLEMENTAL INDENTURE, dated March 31, 2011 (this “Supplemental
Indenture”), is made and entered into between Dell Inc., a Delaware corporation (the
“Company”), and The Bank of New York Mellon Trust Company, N.A., a national banking
association organized under the laws of the United States of America (the “Trustee”).
Capitalized terms used herein and not otherwise defined have the meanings set forth in the
Indenture referred to below.

RECITALS

     A. ARTICLE NINE of the Indenture, dated as of April 6, 2009, between the Company and the
Trustee (the “Indenture”) provides that, without the consent of any Holders, the Company,
when authorized by a Board Resolution, and the Trustee may enter into a supplemental indenture to
the Indenture to establish the form or terms of Securities of any series.

     B. The Company desires to issue $400,000,000 aggregate principal amount of 2.100% Notes due
2014 (the “2014 Notes”), $400,000,000 aggregate principal amount of 3.100% Notes due 2016
(the “2016 Notes”), $400,000,000 aggregate principal amount of 4.625% Notes due 2021 (the
“2021 Notes” and together with the 2014 Notes and the 2016 Notes, the “Fixed Rate
Notes”) and $300,000,000 aggregate principal amount of Floating Rate Notes due 2014 (the
“Floating Rate Notes” and together with the Fixed Rate Notes, the “Notes”), and in
connection therewith, the Company has duly determined to make, execute and deliver to the Trustee
this Supplemental Indenture to set forth the terms and provisions of each series of Notes as
required by the Indenture.

     NOW, THEREFORE, in consideration of the mutual agreements and covenants set forth herein, the
parties hereto agree, subject to the terms and conditions hereinafter set forth, as follows for the
benefit of the Trustee and the Holders of the Notes:

     Section 1. Notes. Pursuant to Section 301 of the Indenture, the terms and provisions
of the Notes are as follows:

     (a) Title. The title of the 2014 Notes shall be “2.100% Notes due 2014,” the title of the
2016 Notes shall be “3.100% Notes due 2016,” the title of the 2021 Notes shall be “4.625% Notes
due 2021” and the title of the Floating Rate Notes shall be “Floating Rate Notes due 2014.”

     (b) Aggregate Principal Amount. The 2014 Notes shall be initially limited to $400,000,000
aggregate principal amount. The Company may, without the consent of the Holders of the 2014 Notes,
increase such aggregate principal amount in the future, on the same terms and conditions, except
for any differences in the issue price and interest accrued prior to the issue date of the
additional 2014 Notes, and with the same CUSIP number as the 2014 Notes. The Company shall not
issue any such additional 2014 Notes unless the additional 2014 Notes are fungible with the 2014
Notes for United States federal income tax purposes.

     The 2016 Notes shall be initially limited to $400,000,000 aggregate principal amount. The
Company may, without the consent of the Holders of the 2016 Notes, increase such aggregate
principal amount in the future, on the same terms and conditions, except for any differences in the
issue price and interest accrued prior to the issue date of the additional 2016 Notes, and with the
same CUSIP number as the 2016 Notes. The Company shall not issue any such additional 2016 Notes
unless the additional 2016 Notes are fungible with the 2016 Notes for United States federal income
tax purposes.

 

 

     The 2021 Notes shall be initially limited to $400,000,000 aggregate principal amount. The
Company may, without the consent of the Holders of the 2021 Notes, increase such aggregate
principal amount in the future, on the same terms and conditions, except for any differences in the
issue price and interest accrued prior to the issue date of the additional 2021 Notes, and with the
same CUSIP number as the 2021 Notes. The Company shall not issue any such additional 2021 Notes
unless the additional 2021 Notes are fungible with the 2021 Notes for United States federal income
tax purposes.

     The Floating Rate Notes shall be initially limited to $300,000,000 aggregate principal amount.
The Company may, without the consent of the Holders of the Floating Rate Notes, increase such
aggregate principal amount in the future, on the same terms and conditions, except for any
differences in the issue price and interest accrued prior to the issue date of the additional
Floating Rate Notes, and with the same CUSIP number as the Floating Rate Notes. The Company shall
not issue any such additional Floating Rate Notes unless the additional Floating Rate Notes are
fungible with the Floating Rate Notes for United States federal income tax purposes.

     (c) Price. The price at which the 2014 Notes shall be issued to the public is 99.968%, the
price at which the 2016 Notes shall be issued to the public is 99.899%, the price at which the 2021
Notes shall be issued to the public is 99.541% and the price at which the Floating Rate Notes shall
be issued to the public is 100.000%.

     (d) Stated Maturity. The Stated Maturity for the 2014 Notes shall be on April 1, 2014, the
Stated Maturity for the 2016 Notes shall be on April 1, 2016, the Stated Maturity for the 2021
Notes shall be on April 1, 2021 and the Stated Maturity for the Floating Rate Notes shall be on
April 1, 2014. No series of Notes shall require any principal or premium payments prior to the
Stated Maturity for such series of Notes.

     (e) Interest Rate.

     Fixed Rate Notes. The rate at which the 2014 Notes shall bear interest shall be
2.100% per annum, the rate at which the 2016 Notes shall bear interest shall be 3.100% per annum,
and the rate at which the 2021 Notes shall bear interest shall be 4.625% per annum. Interest on the
Fixed Rate Notes shall accrue from the most recent date to which interest has been paid, or, if no
interest has been paid, from March 31, 2011. Each April 1 or October 1 in each year, commencing
October 1, 2011, shall be an Interest Payment Date for the Fixed Rate Notes. The March 15 or
September 15 (whether or not a Business Day), as the case may be, next preceding an Interest
Payment Date shall be the Regular Record Date for the Fixed Rate Notes for the interest payable on
such Interest Payment Date.

     Floating Rate Notes. The Floating Rate Notes shall bear interest for each interest
period at a rate determined by the calculation agent. The Bank of New York Mellon Trust Company,
N.A. shall be the calculation agent until such time, if any, as the Company appoints a successor
calculation agent. The interest rate on the Floating Rate Notes for a particular interest period
shall be a per annum rate equal to three-month USD LIBOR as determined on the interest
determination date plus 0.60%. The interest determination date for an interest period shall be the
second London business day preceding the first day of such interest period. Promptly upon
determination, the calculation agent shall inform the Trustee and the Company of the interest rate
for the next interest period. Absent manifest error, the determination of the interest rate by the
calculation agent shall be binding and conclusive on the holders of the Floating Rate Notes, the
Trustee and the Company. A London business day is a day on which dealings in deposits in U.S.
dollars are transacted in the London interbank market.

     Interest on the Floating Rate Notes shall be paid to, but excluding, the relevant Interest
Payment Date. Interest payments on the Floating Rate Notes shall be made quarterly in arrears on
January 1,

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April 1, July 1 and October 1 of each year, beginning on July 1, 2011, to the person in whose name
the Floating Rate Notes (or one or more Predecessor Securities) are registered on the Regular
Record Date for such Interest Payment Date for the Floating Rate Notes. The Regular Record Date
for each Interest Payment Date for the Floating Rate Notes shall be the close of business on the
Business Day immediately preceding the applicable Interest Payment Date. Interest on the Floating
Rate Notes shall accrue from and including March 31, 2011 to, but excluding, the first Interest
Payment Date and then from and including the immediately preceding Interest Payment Date to which
interest has been paid or duly provided for to, but excluding, the next Interest Payment Date or
date of Maturity, as the case may be. Each of these periods is referred to as an “interest
period.” The amount of accrued interest that the Company shall pay for any interest period shall
be calculated by multiplying the face amount of the Floating Rate Notes then outstanding by an
accrued interest factor. The accrued interest factor shall be computed by adding the interest
factor calculated for each day from March 31, 2011, or from the latest date interest was paid to
the date for which accrued interest is being calculated. The interest factor for each day shall be
computed by dividing the interest rate applicable to that date by 360. If an Interest Payment Date
for the Floating Rate Notes falls on a day that is not a Business Day, the Interest Payment Date
shall be postponed to the next succeeding Business Day unless such next succeeding Business Day
would be in the following month, in which case the Interest Payment Date shall be the immediately
preceding Business Day.

     On any interest determination date, LIBOR shall be equal to the offered rate for deposits in
U.S. dollars having an index maturity of three months, in amounts of at least $1,000,000, as such
rate appears on “Reuters Page LIBOR01” at approximately 11:00 a.m., London time, on such interest
determination date. If on an interest determination date, such rate does not appear on “Reuters
Page LIBOR 01” at approximately 11:00 a.m., London time, or if “Reuters Page LIBOR01” is not
available on such date, the calculation agent shall obtain such rate from Bloomberg L.P.’s page
“BBAM.”

     If no offered rate appears on “Reuters Page LIBOR01” or Bloomberg L.P.’s page “BBAM” on an
interest determination date at approximately 11:00 a.m., London time, then the calculation agent
(after consultation with the Company) shall select four major banks in the London interbank market
and shall request each of their principal London offices to provide a quotation of the rate at
which three-month deposits in U.S. dollars in amounts of at least $1,000,000 are offered by it to
prime banks in the London interbank market, on that date and at that time, that is representative
of single transactions at that time. If at least two quotations are provided, LIBOR shall be the
arithmetic average of the quotations provided. Otherwise, the calculation agent shall select three
major banks in New York City and shall request each of them to provide a quotation of the rate
offered by them at approximately 11:00 a.m., New York City time, on the interest determination date
for loans in U.S. dollars to leading European banks having an index maturity of three months for
the applicable interest period in an amount of at least $1,000,000 that is representative of single
transactions at that time. If three quotations are provided, LIBOR shall be the arithmetic average
of the quotations provided. Otherwise, the rate of LIBOR for the next interest period shall be set
equal to the rate of LIBOR for the then current interest period.

     Upon request from any holder of Floating Rate Notes, the calculation agent shall provide the
interest rate in effect for the Floating Rate Notes for the current interest period and, if it has
been determined, the interest rate to be in effect for the next interest period.

     All percentages resulting from any calculation of the interest rate on the Floating Rate Notes
shall be rounded to the nearest one hundred-thousandth of a percentage point with five
one-millionths of a percentage point rounded upwards (e.g., 9.876545% (or .09876545) would be
rounded to 9.87655% (or .0987655)), and all dollar amounts used in or resulting from such
calculation on the Floating Rate Notes shall be rounded to the nearest cent (with one-half cent
being rounded upward). Each calculation of the interest rate on the Floating Rate Notes by the
calculation agent shall (in absence of manifest error) be final and binding on the Holders and the
Company.

3

 

     The interest rate on the Floating Rate Notes shall in no event be higher than the maximum rate
permitted by New York law as the same may be modified by United States law of general application.

     (f) Payments. Payments of principal of and interest on the Notes represented by one or more
Global Securities initially registered in the name of The Depository Trust Company (the
“Depositary”) or its nominee with respect to such Notes shall be made by the Company
through the Trustee in immediately available funds to the Depositary or its nominee, as the case
may be.

     (g) Optional Redemption. The Fixed Rate Notes shall be redeemable at any time in whole, or
from time to time in part, at the Company’s option in accordance with the terms and provisions set
forth in Section 2 hereof and (to the extent they do not conflict with Section 2
hereof) the terms and provisions of ARTICLE ELEVEN of the Indenture.

     The Floating Rate Notes shall not be redeemable at the option of the Company prior to
Maturity.

     (h) Sinking Fund. There shall be no mandatory sinking fund for the payments of the Notes.

     (i) Consolidation; Merger. ARTICLE EIGHT of the Indenture shall apply to the Notes.

     (j) Defeasance. ARTICLE THIRTEEN of the Indenture shall apply to the Notes.

     (k) Global Securities. Each series of Notes shall be represented by one or more Global
Securities deposited with the Depositary and registered in the name of the nominee of the
Depositary.

     (l) Trustee. The Bank of New York Mellon Trust Company, N.A. shall be the Trustee for the
Notes under the Indenture.

     (m) Filing of Reports. With respect to the Notes, so long as the Company is subject to the
reporting requirements of the Exchange Act, the Company’s failure to comply with Section 314(a) of
the Trust Indenture Act (relating to the filing of reports, information and other documents with
the Commission) shall not constitute an Event of Default.

     (n) Amendment to Section 704. With respect to the Notes and not to any other Securities that
may be issued from time to time under the Indenture (unless specified in a supplemental indenture
pertaining to such Securities), Section 704 of the Indenture is hereby amended and restated in its
entirety to read as follows:

“Section 704. Reports by Company.

     The Company shall file with the Trustee and the Commission, and transmit to Holders, such
information, documents and other reports, if any, and such summaries thereof, as may be required
pursuant to the Trust Indenture Act at the times and in the manner provided pursuant to the Trust
Indenture Act; provided that any such information, documents or reports required to be filed with
the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee
within 30 days after the same is so required to be filed with the Commission.”

     (o) Section 301. To the extent not set forth otherwise herein, the provisions of Section 301
of the Indenture are applicable.

     Section 2. Optional Redemption of the Fixed Rate Notes.

4

 

     (a) The Fixed Rate Notes shall be redeemable, at any time in whole, or from time to time in
part, at the Company’s option, at a Redemption Price equal to the greater of:

     (i) 100% of the principal amount of the Notes to be redeemed; and

     (ii) the sum of the present values of the remaining scheduled payments of principal and
interest on the Notes to be redeemed from the Redemption Date to the Stated Maturity of the
Notes to be redeemed (exclusive of any interest accrued to the Redemption Date), discounted to
the Redemption Date on a semi-annual basis assuming a 360-day year consisting of twelve 30-day
months, at the Treasury Rate plus 12.5 basis points in the case of the 2014 Notes, 15 basis
points in the case of the 2016 Notes and 20 basis points in the case of the 2021 Notes (the
“Applicable Premium”);

plus, in each case, any interest accrued but not paid on the Notes to be redeemed to the
Redemption Date. Notwithstanding the foregoing, installments of interest on applicable Notes
that are due and payable on Interest Payment Dates falling on or prior to a Redemption Date
shall be payable on the Interest Payment Date to the registered holders as of the close of
business on the relevant Regular Record Date.

     (b) Unless the Company defaults in payment of the Redemption Price, on and after the
Redemption Date, interest shall cease to accrue on the Fixed Rate Notes or portions thereof called
for redemption. Notice of any redemption may, at the Company’s discretion, be subject to one or
more conditions precedent. A notice of redemption need not set forth the exact Redemption Price,
but only the manner of calculation thereof.

     (c) The Applicable Premium shall be calculated by an independent investment banking
institution of national standing appointed by the Company; provided, however, if the Company fails
to make such appointment at least 45 Business Days prior to the Redemption Date, or if the
institution so appointed is unwilling or unable to make such calculation, such calculation shall be
made by an independent investment banking institution of national standing appointed by the
Trustee.

     Section 3. Definitions.

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

     (b) “Comparable Treasury Price” means, with respect to any Redemption Date, (i) the
average of four Reference Treasury Dealer Quotations for such Redemption Date, after excluding the
highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation Agent
obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such
quotations, or (iii) if only one Reference Treasury Dealer Quotation is received, such quotation.

     (c) “Quotation Agent” means each Reference Treasury Dealer appointed by the Company.

     (d) “Reference Treasury Dealer” means (i) BNP Paribas Securities Corp., Deutsche Bank
Securities Inc., UBS Securities LLC (or their respective affiliates that are Primary Treasury
Dealers) and a Primary Treasury Dealer selected by Wells Fargo Securities, LLC, and their
respective successors; provided, however, that if any of the foregoing shall cease to be a primary
U.S. Government securities dealer in the

5

 

United States (a “Primary Treasury Dealer”), the Company shall substitute therefor another
Primary Treasury Dealer, and (ii) any other Primary Treasury Dealer selected by the Company.

     (e) “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any Redemption Date, the average, as determined by the Quotation Agent, of the
bid and asked prices for the applicable Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference
Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such
Redemption Date.

     (f) “Treasury Rate” means, with respect to any Redemption Date, the rate per annum
equal to the semi-annual equivalent yield to maturity of the applicable Comparable Treasury Issue,
assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the applicable Comparable Treasury Price for such Redemption Date.

     Section 4. Counterparts. This Supplemental Indenture may be executed in any number
of counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument.

     Section 5. Governing Law. This Supplemental Indenture shall be governed by, and
construed in accordance with, the laws of the State of New York.

     Section 6. Trustee Not Responsible for Recitals or Issuance of Notes. The recitals
contained herein and in the Notes, except the Trustee’s certificates of authentication, shall be
taken as the statements of the Company, and the Trustee assumes no responsibility for their
correctness. The Trustee makes no representations as to the validity or sufficiency of this
Supplemental Indenture or of the Notes. The Trustee shall not be accountable for the use or
application by the Company of the Notes or the proceeds thereof.

6

 

     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be signed on
their behalf by their duly authorized representatives as of the date first above written:

	 	 	 	 	 
	 	DELL INC.

 	 
	 	By:  	 	/s/ Brian T. Gladden
 	 
	 	Name:  	 	Brian T. Gladden 	 
	 	Title:  	 	Senior Vice President and

Chief Financial Officer 	 
	 
	 	THE BANK OF NEW YORK MELLON 

TRUST COMPANY, N.A., as Trustee

 	 
	 	By:  	 	/s/ Julie Hoffman-Ramos
 	 
	 	Name:  	 	Julie Hoffman-Ramos 	 
	 	Title:  	 	Senior Associateexv4w2

Exhibit 4.2

     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 COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN 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 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 ON THE REVERSE HEREOF.

(FACE OF NOTE)

DELL INC.

Floating Rate Note due 2014

			
	 	 	 
	No.
	 	$

CUSIP NO: 24702RAR2

     DELL INC., a corporation duly organized and existing under the laws of the State of Delaware
(herein called the “Company,” which term includes any successor Person under the Indenture
hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered
assigns, the principal sum of $            on April 1, 2014 and to pay interest thereon from March 31, 2011 or
from the most recent Interest Payment Date to which interest has been paid or duly provided for,
quarterly on January 1, April 1, July 1 and October 1 in each year, commencing July 1, 2011 at a
floating rate of interest as described on the reverse of this Security, until the principal hereof
is paid or made available for payment. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date will, as provided in the Indenture, be paid to the
Person in whose name this Security (or one or more Predecessor Securities) is registered at the
close of business on the Regular Record Date for such interest, which shall be the Business Day
immediately preceding such Interest Payment Date. Any such interest not so punctually paid or duly
provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may
either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this
series not less than 10 days prior to such Special Record Date, or be paid at any time in any other
lawful manner not inconsistent with the requirements of any securities exchange on which the
Securities of this series may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in the Indenture.

     Payment of principal of (and premium, if any) and any such interest on this Security will be
made

 

 

at the office or agency of the Trustee maintained for that purpose in 101 Barclay Street 7 East,
New York, NY, 10286, 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. In the event the Global Security
representing the Securities becomes exchangeable for definitive Securities pursuant to the terms of
the Indenture, at the option of the Company payment of interest may be made by check mailed to the
address of the Person entitled thereto as such address shall appear in the Security Register.

     So long as all of the Securities of this series are represented by Global Securities, the
principal of, premium, if any, and interest, if any, on this Global Security shall be paid in same
day funds to the Depositary, or to such name or entity as is requested by an authorized
representative of the Depositary. If at any time the Securities of this series are no longer
represented by the Global Securities and are issued in definitive form (“Certificated Securities”),
then the principal of, premium, if any, and interest, if any, on each Certificated Security at
Maturity shall be paid in same day funds to the Holder upon surrender of such Certificated Security
at the Corporate Trust Office of the Trustee, or at such other place or places as may be designated
in or pursuant to the Indenture, provided that such Certificated Security is surrendered to the
Trustee, acting as Paying Agent, in time for the Paying Agent to make such payments in such funds
in accordance with its normal procedures. Payments of interest with respect to Certificated
Securities other than at Maturity may, at the option of the Company, be made by check mailed to the
address of the Person entitled thereto as it appears on the Security Register on the relevant
Regular or Special Record Date or by wire transfer in same day funds to such account as may have
been appropriately designated to the Paying Agent by such Person in writing not later than such
relevant Regular or Special Record Date.

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

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

 

 

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

Dated:

	 	 	 	 	 	 	 	 	 	 	 

	DELL INC.	 	 	 	DELL INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 
	Name:

	 	Brian T. Gladden
	 	 	 	Name:
	 	Gary E. Bischoping, Jr.	 	 
	Title:

	 	Senior Vice President and
	 	 	 	Title:
	 	Vice President and Treasurer	 	 
	 

	 	Chief Financial Officer	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Attest:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Janet B. Wright	 	 	 	 	 	 	 	 
	Title:

	 	Assistant Secretary and	 	 	 	 	 	 	 	 
	 

	 	Vice President-Corporate,	 	 	 	 	 	 	 	 
	 

	 	Securities & Finance Counsel	 	 	 	 	 	 	 	 

 

 

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

	 	 	 	 	 

	Dated:	 	 
	 
	 	 	 	 
	THE BANK OF NEW YORK

MELLON TRUST COMPANY,

N.A., as Trustee	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Authorized Signatory	 	 

 

 

(REVERSE OF NOTE)

     This Security is one of a duly authorized issue of securities of the Company (herein called
the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of
April 6, 2009 (herein called the “Base Indenture”), between the Company and The Bank of New York
Mellon Trust Company, N.A., as Trustee (herein called the “Trustee,” which term includes any
successor trustee under the Indenture), as supplemented by the Fourth Supplemental Indenture dated
March 31, 2011 between the Company and the Trustee (the “Supplemental Indenture” and, together with
the Base Indenture, the “Indenture”), to which Indenture and all other indentures supplemental
thereto reference is hereby made for a statement of the respective rights, limitations of rights,
duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and
of the terms upon which the Securities are, and are to be, authenticated and delivered. This
Security is one of the series designated on the face hereof, limited in initial aggregate amount to
$300,000,000.

     This Security shall bear interest for each interest period at a rate determined by the
calculation agent, which shall be The Bank of New York Mellon Trust Company, N.A. until such time,
if any, as the Company appoints a successor calculation agent (herein called the “Calculation
Agent,” which term includes any successor Calculation Agent under the Indenture). The interest
rate on the Securities for a particular Interest Period (as defined below) shall be a per annum
rate equal to three-month USD LIBOR (as defined below) as determined on the Interest Determination
Date plus 0.60% (the “Interest Rate”). The “Interest Determination Date” for an Interest Period
shall be the second London Business Day preceding the first day of such Interest Period. Promptly
upon determination, the Calculation Agent shall inform the Trustee and the Company of the Interest
Rate for the next Interest Period. Absent manifest error, the determination of the Interest Rate
by the Calculation Agent shall be binding and conclusive on the holders of this Security, the
Trustee and the Company. A London Business Day is a day on which dealings in deposits in U.S.
dollars are transacted in the London interbank market.

     Interest on the Securities shall be paid to but excluding the relevant Interest Payment Date.
Interest payments on the Securities shall be made quarterly in arrears on the Interest Payment
Date, beginning on July 1, 2011 to the person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on the Business Day immediately
preceding the Interest Payment Date. Interest on this Security shall accrue from and including
March 31, 2011, to but excluding, the first Interest Payment Date and then from and including the
immediately preceding Interest Payment Date to which interest has been paid or duly provided for
to, but excluding, the next Interest Payment Date or date of Maturity, as the case may be (each of
these periods is referred to as an “Interest Period”). The amount of accrued interest that the
Company shall pay for any Interest Period shall be calculated by the Calculation Agent by
multiplying the face amount of the Securities then outstanding by an “Accrued Interest Factor.”
The Accrued Interest Factor shall be computed by adding the Interest Factor calculated for each day
from March 31, 2011, or from the latest date interest was paid to the date for which accrued
interest is being calculated. The “Interest Factor” for each day shall be computed by dividing the
Interest Rate applicable to that date by 360. If an Interest Payment Date for the Securities falls
on a day that is not a Business Day, the Interest Payment Date shall be postponed to the next
succeeding Business Day unless such next succeeding Business Day would be in the following month,
in which case the Interest Payment Date shall be the immediately preceding Business Day.

     On any Interest Determination Date, “LIBOR” shall be equal to the offered rate for deposits in
U.S. dollars having an index maturity of three months, in amounts of at least $1,000,000, as such
rate appears on “Reuters Page LIBOR01” at approximately 11:00 a.m., London time, on such Interest

 

 

Determination Date. If on an Interest Determination Date, such rate does not appear on
“Reuters Page LIBOR01” at approximately 11:00 a.m., London time, or if “Reuters Page LIBOR01” is
not available on such date, the Calculation Agent shall obtain such rate from Bloomberg L.P.’s page
“BBAM.” If no offered rate appears on “Reuters Page LIBOR01” or Bloomberg L.P.’s page “BBAM” on an
Interest Determination Date at approximately 11:00 a.m., London time, then the Calculation Agent
(after consultation with the Company) shall select four major banks in the London interbank market
and shall request each of their principal London offices to provide a quotation of the rate at
which three-month deposits in U.S. dollars in amounts of at least $1,000,000 are offered by it to
prime banks in the London interbank market, on that date and at that time, that is representative
of single transactions at that time. If at least two quotations are provided, LIBOR shall be the
arithmetic average of the quotations provided. Otherwise, the Calculation Agent shall select three
major banks in New York City and shall request each of them to provide a quotation of the rate
offered by them at approximately 11:00 a.m., New York City time, on the Interest Determination Date
for loans in U.S. dollars to leading European banks having an index maturity of three months for
the applicable interest period in an amount of at least $1,000,000 that is representative of single
transactions at that time. If three quotations are provided, LIBOR shall be the arithmetic average
of the quotations provided. Otherwise, the rate of LIBOR for the next Interest Period shall be set
equal to the rate of LIBOR for the then current Interest Period.

     Upon request from any holder of Securities, the Calculation Agent shall provide the Interest
Rate in effect for the Securities for the current Interest Period and, if it has been determined,
the Interest Rate to be in effect for the next Interest Period.

     All percentages resulting from any calculation of the Interest Rate on the Securities shall be
rounded to the nearest one hundred-thousandth of a percentage point with five one-millionths of a
percentage point rounded upwards (e.g., 9.876545% (or .09876545)
would be rounded to 9.87655% (or .0987655)), and all dollar amounts used in or resulting from such calculation on the Securities
shall be rounded to the nearest cent (with one-half cent being rounded upward). Each calculation
of the Interest Rate on the Securities by the Calculation Agent shall (in absence of manifest
error) be final and binding on the Holders and the Company.

     The Interest Rate on the Securities shall in no event be higher than the maximum permitted
rate by New York law as the same may be modified by United States law of general application.

     The Company shall not be entitled to redeem the Securities prior to Maturity.

     If an Event of Default with respect to Securities of this series shall occur and be
continuing, the principal of the Securities of this series may be declared due and payable in the
manner and with the effect provided in the Indenture.

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

 

 

     Each of the defeasance and covenant defeasance provisions of ARTICLE THIRTEEN of the Indenture
shall apply to this Security.

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

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

     The Securities of this series are issuable only in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof. As provided in the
Indenture and subject to certain limitations therein set forth, Securities of this series are
exchangeable for a like aggregate principal amount of Securities of this series of a different
authorized denomination, as requested by the Holder surrendering the same.

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

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

     This Security shall for all purposes be governed by and construed in accordance with the laws
of the State of New York.

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

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