Document:

EX-4.O

 

Exhibit 4(o)

CERTIFICATE OF TRUST

OF

HUNTINGTON CAPITAL VI

     THIS Certificate of Trust of Huntington Capital VI (the “Trust”), dated as of May 21, 1998, is
being duly executed and filed by the undersigned, as trustees, to form a business trust under the
Delaware Business Trust Act (12 Del. C. Section 3801, et seq.).

     1. Name. The name of the business trust formed hereby is Huntington Capital VI.

     2. Delaware Trustee. The name and business address of the trustee of the Trust with a
principal place of business in the State of Delaware are Chase Manhattan Bank Delaware, 1201 Market
Street, Wilmington, Delaware 19801.

     3. Effective Date. This Certificate of Trust shall be effective upon filing.

     IN WITNESS WHEREOF, the undersigned, being the trustees of the Trust, have executed this
Certificate of Trust as of the date first-above written.

	 	 	 	 	 
	 	 	CHASE MANHATTAN BANK
DELAWARE,

not in its individual capacity but solely as

trustee of the Trust
	 
	 	 	 	 
	 

	 	By: /s/ John J. Cashin
 

	 	 
	 

	 	Name: John J. Cashin	 	 
	 

	 	Title: Vice President	 	 
	 
	 	 	 	 
	 	 	PAUL V. SEBERT, not in his individual

capacity but solely as trustee of the Trust
	 
	 	 	 	 
	 

	 	/s/ Paul V. SebertEX-4.P

 

Exhibit 4(p)

DECLARATION OF TRUST

OF

HUNTINGTON CAPITAL VI

     THIS DECLARATION OF TRUST is made as of May 21, 1998 (this “Declaration”), by and among
Huntington Bancshares Incorporated, a Maryland banking corporation, as sponsor (the “Sponsor”), and
Chase Manhattan Bank Delaware, a Delaware banking corporation as trustee (the “Delaware Trustee”),
and Paul V. Sebert, as trustee (jointly, the “Trustees”). The Sponsor and the Trustees hereby agree
as follows:

     1. The trust created hereby shall be known as “Huntington Capital VI” (the “Trust”), in which
name the Trustees or the Sponsor, to the extent provided herein, may conduct the business of the
Trust, make and execute contracts, and sue and be sued.

     2. The Sponsor hereby assigns, transfers, conveys and sets over to the Trust the sum of $10.
Such amount shall constitute the initial trust estate. It is the intention of the parties hereto
that the Trust created hereby constitute a business trust under Chapter 38 of Title 12 of the
Delaware Code, 12 Del. C. Section 3801, et seq. (the “Business Trust Act”), and that this document
constitute the governing instrument of the Trust. The Trustees are hereby authorized and directed
to execute and file a certificate of trust with the Delaware Secretary of State in such form as the
Trustees may approve.

     3. The Sponsor and the Trustees will enter into an amended and restated Trust Agreement or
Declaration of Trust satisfactory to each such party and substantially in the form included as an
exhibit to the 1933 Act Registration Statement (as defined below), to provide for the contemplated
operation of the Trust created hereby and the issuance of the Preferred or Capital Securities and
Common Securities referred to therein. Prior to the execution and delivery of such amended and
restated Trust Agreement or Declaration of Trust, the Trustees shall not have any duty or
obligation hereunder or with respect of the trust estate, except as otherwise required by
applicable law or as may be necessary to obtain prior to such execution and delivery any licenses,
consents or approvals required by applicable law or otherwise. Notwithstanding the foregoing, the
Trustees may take all actions deemed proper as are necessary to effect the transactions
contemplated herein.

     4. The Sponsor hereby agrees to indemnify the Delaware Trustee and any of the officers,
directors, employees and agents of the Delaware Trustee (the

 

 

“Indemnified Persons”) for, and to
hold each Indemnified Person harmless against, any liability or expense incurred without negligence
or bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts
hereunder, including the costs and expenses (including reasonable legal fees and expenses) of
defending itself against or investigating any claim or liability in connection with the exercise or
performance of any of its powers or duties hereunder.

     5. The Sponsor, as sponsor of the Trust, is hereby authorized, in its discretion, (i) to file
with the Securities and Exchange Commission (the “Commission”) and to execute, in the case of the
1933 Act Registration statement and 1934 Act Registration Statement (as herein defined), on behalf
of the Trust, (a) a Registration Statement (the “1933 Act Registration Statement”), including all
pre-effective and post-effective amendments thereto, relating to the registration under the
Securities Act of 1933, as amended (the “1933 Act”), of the Preferred or Capital Securities of the
Trust, (b) any preliminary prospectus or prospectus or supplement thereto relating to the Preferred
or Capital Securities of the Trust required to be filed pursuant to the 1933 Act, and (c) a
Registration Statement on Form 8-A or other appropriate form (the “1934 Act Registration
Statement”), including all pre-effective and post-effective amendments thereto, relating to the
registration of the Preferred or Capital Securities of the Trust under the Securities Exchange Act
of 1934, as amended; (ii) to file with the New York Stock Exchange or other exchange, or the
National Association of Securities Dealers (“NASD”), and execute on behalf of the Trust a listing
application and all other applications, statements, certificates, agreements and other instruments
as shall be necessary or desirable to cause the Preferred or Capital Securities of the Trust to be
listed on the New York Stock Exchange or such other exchange, or the NASD’s Nasdaq National Market;
(iii) to file and execute on behalf of the Trust, such applications, reports, surety bonds,
irrevocable consents, appointments of attorney for service of process and other papers and
documents that shall be necessary or desirable to register the Preferred or Capital Securities of
the Trust under the securities or “Blue Sky” laws of such jurisdictions as the Sponsor, on behalf
of the Trust, may deem necessary or desirable; (iv) to execute and deliver letters or documents to,
or instruments for filing with, a depository relating to the Preferred or Capital Securities of the
Trust; and (v) to execute, deliver and perform on behalf of the Trust an underwriting agreement
with one or more underwriters relating to the offering of the Preferred or Capital Securities of
the Trust.

     In the event that any filing referred to in this Section 4 is required by the rules and
regulations of the Commission, the New York Stock Exchange or other exchange, NASD, or state
securities or “Blue Sky” laws to be executed on behalf of the Trust by the Trustees, the Trustees,
in their capacity as trustees of the Trust, are hereby authorized to join in any such filing and to
execute on behalf of the

2

 

Trust any and all of the foregoing, it being understood that the Trustees,
in their capacity as trustees of the Trust, shall not be required to join in any such filing or
execute on behalf of the Trust any such document unless required by the rules and
regulations of the Commission, the New York Stock Exchange or other exchange, NASD, or state
securities or “Blue Sky” laws.

     6. This Declaration may be executed in one or more counterparts.

     7. The number of trustees of the Trust initially shall be two and thereafter the number of
trustees of the Trust shall be such number as shall be fixed from time to time by a written
instrument signed by the Sponsor which may increase or decrease the number of trustees of the
Trust; provided, however, that to the extent required by the Business Trust Act, one trustee of the
Trust shall either be a natural person who is a resident of the State of Delaware or, if not a
natural person, an entity which has its principal place of business in the State of Delaware.
Subject to the foregoing, the Sponsor is entitled to appoint or remove without cause any trustee of
the Trust at any time. Any trustee of the Trust may resign upon thirty days’ prior notice to the
Sponsor.

     8. This Declaration shall be governed by, and construed in accordance with, the laws of the
State of Delaware (without regard to conflict of laws principles).

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

	 	 	 	 	 
	 	HUNTINGTON BANCSHARES

INCORPORATED, as Sponsor

 	 
	 	By:  	/s/ Gerald R. Williams
 	 
	 	 	Name:  	Gerald R. Williams 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	CHASE MANHATTAN BANK DELAWARE,

not in its individual capacity but solely

as trustee of the Trust

 	 
	 	By:  	/s/ John J. Cashin
 	 
	 	 	Name:  	John J. Cashin 	 
	 	 	Title:  	Vice President 	 

3

 

	 	 	 	 	 

	 	 	 	 	 
	 	PAUL V. SEBERT, not in his individual capacity but
solely as trustee of the Trust

 	 
	 	/s/ Paul V. Sebert
 	 
	 	 	 
	 	 	 
	 

4EX-4.Q

 

Exhibit
4(q)
 

 

 

FORM OF

AMENDED AND RESTATED DECLARATION OF TRUST

among

HUNTINGTON BANCSHARES INCORPORATED

as Sponsor

THE BANK OF NEW YORK,

as Property Trustee

THE BANK OF NEW YORK (DELAWARE),

as Delaware Trustee

and

THE ADMINISTRATIVE TRUSTEES NAMED HEREIN

 

Dated as of                     , 20     

 

HUNTINGTON CAPITAL           

 

 

 

 

Certain Sections of this Declaration of Trust relating to Sections 310 through 318

of the Trust Indenture Act of 1939:

	 	 	 	 	 	 	 
	Trust Indenture	 	Declaration of Trust
	Act Section	 	Section
	(§) 310

	 	(a)(1)
	 	8.7	 
	 

	 	(a)(2)
	 	8.7	 
	 

	 	(a)(3)
	 	8.9	 
	 

	 	(a)(4)
	 	2.7(a)(ii)

	 

	 	(b)
	 	8.8	 
	(§) 311

	 	(a)
	 	8.13	 
	 

	 	(b)
	 	8.13	 
	(§) 312

	 	(a)
	 	5.8	 
	 

	 	(b)
	 	5.8	 
	 

	 	(c)
	 	5.8	 
	(§) 313

	 	(a)
	 	8.15(a)	
	 

	 	(a)(4)
	 	8.15(b)	
	 

	 	(b)
	 	8.15(b)	
	 

	 	(c)
	 	10.8	 
	 

	 	(d)
	 	8.15(c)	
	(§) 314

	 	(a)
	 	8.16	 
	 

	 	(b)
	 	Not Applicable

	 

	 	(c)(1)
	 	8.17	 
	 

	 	(c)(2)
	 	8.17	 
	 

	 	(c)(3)
	 	Not Applicable

	 

	 	(d)
	 	Not Applicable

	 

	 	(e)
	 	1.1, 8.17	 
	(§) 315

	 	(a)
	 	8.1(a), 8.3(a)
	 

	 	(b)
	 	8.2, 10.8	 
	 

	 	(c)
	 	8.1(d)	
	 

	 	(d)
	 	8.1, 8.3	 
	 

	 	(e)
	 	10.1	 
	 

	 	(a)
	 	Not Applicable

	(§) 316

	 	(a)(1)(A)
	 	8.1(e)(iii)

	 

	 	(a)(1)(B)
	 	5.13(b)	
	 

	 	(a)(2)
	 	Not Applicable

	 

	 	(b)
	 	5.13	 
	 

	 	(c)
	 	6.7	 
	(§) 317

	 	(a)(1)
	 	Not Applicable

	 

	 	(a)(2)
	 	Not Applicable

	 

	 	(b)
	 	5.10	 
	(§) 318

	 	(a)
	 	10.10	 

 

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

i

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	ARTICLE I

	 
	 	 	 
	DEFINED TERMS

	 
	 	 	 
	Section 1.1.	 	Definitions
	 	 	1	 
	 
	 	 	 
	ARTICLE II

	 
	 	 	 
	CONTINUATION OF THE ISSUER TRUST

	 
	 	 	 
	Section 2.1.	 	Name
	 	 	10	 
	Section 2.2.	 	Office of the Delaware Trustee; Principal Place of Business
	 	 	10	 
	Section 2.3.	 	Initial Contribution of Trust Property; Organizational Expenses
	 	 	10	 
	Section 2.4.	 	Issuance of the Preferred Securities
	 	 	11	 
	Section 2.5.	 	Issuance of the Common Securities; Subscription and Purchase of Debentures
	 	 	11	 
	Section 2.6.	 	Continuation of Trust
	 	 	11	 
	Section 2.7.	 	Authorization to Enter into Certain Transactions
	 	 	12	 
	Section 2.8.	 	Assets of Trust
	 	 	15	 
	Section 2.9.	 	Title to Trust Property
	 	 	16	 
	 
	 	 	 
	ARTICLE III

	 
	 	 	 
	PAYMENT ACCOUNT

	 
	 	 	 
	Section 3.1.	 	Payment Account
	 	 	16	 
	 
	 	 	 
	ARTICLE IV

	 
	 	 	 
	DISTRIBUTIONS; REDEMPTION

	 
	 	 	 
	Section 4.1.	 	Distributions
	 	 	16	 
	Section 4.2.	 	Redemption
	 	 	17	 
	Section 4.3.	 	Subordination of Common Securities
	 	 	19	 

ii

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	Section 4.4.	 	Payment Procedures
	 	 	20	 
	Section 4.5.	 	Tax Returns and Reports
	 	 	20	 
	Section 4.6.	 	Payments under Indenture or Pursuant to Direct Actions
	 	 	21	 
	 
	 	 	 	 	 	 
	ARTICLE V

	 
	 	 	 	 	 	 
	TRUST SECURITIES CERTIFICATES

	 
	 	 	 	 	 	 
	Section 5.1.	 	Initial Ownership
	 	 	21	 
	Section 5.2.	 	The Trust Securities Certificates
	 	 	21	 
	Section 5.3.	 	Execution, Delivery and Authentication of Trust Securities Certificates
	 	 	22	 
	Section 5.4.	 	Book-Entry Preferred Securities
	 	 	22	 
	Section 5.5.	 	Registration of Transfer and Exchange of Preferred Securities Certificates
	 	 	24	 
	Section 5.6.	 	Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates
	 	 	25	 
	Section 5.7.	 	Persons Deemed Holders
	 	 	26	 
	Section 5.8.	 	Access to List of Holders’ Names and Addresses
	 	 	26	 
	Section 5.9.	 	Maintenance of Office or Agency
	 	 	26	 
	Section 5.10.	 	Appointment of Paying Agent
	 	 	27	 
	Section 5.11.	 	Ownership of Common Securities by Sponsor
	 	 	27	 
	Section 5.12.	 	Notices to Clearing Agency
	 	 	28	 
	Section 5.13.	 	Rights of Holders; Waivers of Past Defaults
	 	 	28	 
	 
	 	 	 	 	 	 
	ARTICLE VI

	 
	 	 	 	 	 	 
	ACTS OF HOLDERS; MEETINGS; VOTING

	 
	 	 	 	 	 	 
	Section 6.1.	 	Limitations on Voting Rights
	 	 	30	 
	Section 6.2.	 	Notice of Meetings
	 	 	31	 
	Section 6.3.	 	Meetings of Holders of the Preferred Securities
	 	 	31	 
	Section 6.4.	 	Voting Rights
	 	 	31	 

iii

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	Section 6.5.	 	Proxies, etc
	 	 	32	 
	Section 6.6.	 	Holder Action by Written Consent
	 	 	32	 
	Section 6.7.	 	Record Date for Voting and Other Purposes
	 	 	32	 
	Section 6.8.	 	Acts of Holders
	 	 	32	 
	Section 6.9.	 	Inspection of Records
	 	 	33	 
	 
	ARTICLE VII

	 
	REPRESENTATIONS AND WARRANTIES

	 
	Section 7.1.	 	Representations and Warranties of the Property Trustee and the Delaware Trustee
	 	 	33	 
	Section 7.2.	 	Representations and Warranties of Sponsor
	 	 	35	 
	 
	ARTICLE VIII

	 
	THE ISSUER TRUSTEES

	 
	Section 8.1.	 	Certain Duties and Responsibilities
	 	 	35	 
	Section 8.2.	 	Certain Notices
	 	 	38	 
	Section 8.3.	 	Certain Rights of Property Trustee
	 	 	38	 
	Section 8.4.	 	Not Responsible for Recitals or Issuance of Securities
	 	 	40	 
	Section 8.5.	 	May Hold Securities
	 	 	40	 
	Section 8.6.	 	Compensation; Indemnity; Fees
	 	 	41	 
	Section 8.7.	 	Corporate Property Trustee Required; Eligibility of Issuer Trustees
	 	 	42	 
	Section 8.8.	 	Conflicting Interests
	 	 	42	 
	Section 8.9.	 	Co-Trustees and Separate Trustee
	 	 	42	 
	Section 8.10.	 	Resignation and Removal; Appointment of Successor
	 	 	44	 
	Section 8.11.	 	Acceptance of Appointment by Successor
	 	 	45	 
	Section 8.12.	 	Merger, Conversion, Consolidation or Succession to Business
	 	 	46	 
	Section 8.13.	 	Preferential Collection of Claims Against Sponsor or Issuer Trust
	 	 	46	 

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	Section 8.14.	 	Property Trustee May File Proofs of Claim
	 	 	46	 
	Section 8.15.	 	Reports by Property Trustee
	 	 	47	 
	Section 8.16.	 	Reports to the Property Trustee
	 	 	47	 
	Section 8.17.	 	Evidence of Compliance with Conditions Precedent
	 	 	48	 
	Section 8.18.	 	Number of Issuer Trustees
	 	 	48	 
	Section 8.19.	 	Delegation of Power
	 	 	48	 
	 
	ARTICLE IX

	 
	TERMINATION, LIQUIDATION AND MERGER

	 
	Section 9.1.	 	Termination Upon Expiration Date
	 	 	49	 
	Section 9.2.	 	Early Termination
	 	 	49	 
	Section 9.3.	 	Termination
	 	 	49	 
	Section 9.4.	 	Liquidation
	 	 	50	 
	Section 9.5.	 	Mergers, Consolidations, Amalgamations or Replacements of Issuer Trust
	 	 	51	 
	 
	ARTICLE X

	 
	MISCELLANEOUS PROVISIONS

	 
	Section 10.1.	 	Limitation of Rights of Holders
	 	 	52	 
	Section 10.2.	 	Amendment
	 	 	52	 
	Section 10.3.	 	Separability
	 	 	54	 
	Section 10.4.	 	Governing Law
	 	 	54	 
	Section 10.5.	 	Payments Due on Non-Business Day
	 	 	54	 
	Section 10.6.	 	Successors
	 	 	55	 
	Section 10.7.	 	Headings
	 	 	55	 
	Section 10.8.	 	Reports, Notices and Demands
	 	 	55	 
	Section 10.9.	 	Agreement Not to Petition
	 	 	56	 

v

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	Section 10.10.	 	Trust Indenture Act; Conflict with Trust Indenture Act
	 	 	56	 
	Section 10.11.	 	Acceptance of Terms of Amended Declaration, Guarantee Agreement and Indenture
	 	 	56	 

	 	 	 
	Exhibit A
	 	Certificate of Trust

	Exhibit B
	 	Form of Common Securities Certificate

	Exhibit C
	 	Form of Preferred Securities Certificate

vi

 

 

     AMENDED AND RESTATED DECLARATION OF TRUST, dated as of                     , 20___, among HUNTINGTON
BANCSHARES INCORPORATED a Maryland corporation (including any successors or assigns, the
“Sponsor”), THE BANK OF NEW YORK , as property trustee (in such capacity, the “Property Trustee”),
THE BANK OF NEW YORK (DELAWARE), as Delaware trustee (in such capacity, the “Delaware Trustee”),
                    , an individual, and                     , an individual, each of whose address is Huntington
Center, 41 South High Street, Columbus, Ohio 43287 (each an “Administrative Trustee” and
collectively the “Administrative Trustees”) (the Property Trustee, the Delaware Trustee and the
Administrative Trustees being referred to collectively as the “Issuer Trustees”), and the several
Holders, as hereinafter defined.

WITNESSETH

     WHEREAS, the Sponsor and the Delaware Trustee have heretofore duly declared and established a
statutory trust under the name “Huntington Capital ___” (the “Issuer Trust”) pursuant to the
Delaware Statutory Trust Act by entering into the Declaration of Trust, dated as of                      (the
“Original Declaration”), and by the execution and filing by the Delaware Trustee with the Secretary
of State of the State of Delaware of the Certificate of Trust, filed on                      attached as
Exhibit A;

     WHEREAS, the parties hereto desire to amend and restate the Original Declaration in its
entirety as set forth herein to provide for, among other things, (i) the issuance of the Common
Securities by the Issuer Trust to the Sponsor, (ii) the issuance and sale of the Preferred
Securities by the Issuer Trust pursuant to the Underwriting Agreement and (iii) the acquisition by
the Issuer Trust from the Sponsor of all of the right, title and interest in the Debentures;

     NOW THEREFORE, in consideration of the agreements and obligations set forth herein and for
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
each party, for the benefit of the other parties and for the benefit of the Holders, hereby amends
and restates the Original Declaration in its entirety and agrees as follows:

ARTICLE I

DEFINED TERMS

     Section 1.1.   Definitions.

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

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

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

     (c) The words “include”, “includes” and “including” are deemed to be followed by the phrase
“without limitation”;

 

2

     (d) All accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with generally accepted accounting principles, and the term “generally accepted
accounting principles” with respect to any computation required or permitted hereunder shall mean
such accounting principles that are generally accepted in the United States at the date or time of
such computation; provided that when two or more principles are so generally accepted, it shall
mean that set of principles consistent with those in use by the Sponsor;

     (e) Unless the context otherwise requires, any reference to an “Article”, a “Section” or an
“Exhibit” refers to an Article, a Section or an Exhibit, as the case may be, of or to this Amended
Declaration; and

     (f) The words “hereby”, “herein”, “hereof” and “hereunder” and other words of similar import
refer to this Amended Declaration as a whole and not to any particular Article, Section or other
subdivision.

     “Act” has the meaning specified in Section 6.8.

     “Additional Amount” means, with respect to Trust Securities of a given Liquidation Amount
and/or a given period, the amount of Additional Interest (as defined in the Indenture) paid by the
Sponsor on a Like Amount of Debentures for such period.

     “Administrative Trustee” means each of the individuals identified as an “Administrative
Trustee” in the preamble to this Amended Declaration solely in such individual’s capacity as
Administrative Trustee of the Issuer Trust and not in such individual’s individual capacity, or
such Administrative Trustee’s successor in interest in such capacity, or any successor trustee
appointed as herein provided.

     “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.

     “Amended Declaration” means this Amended and Restated Declaration of Trust, as the same may be
modified, amended or supplemented in accordance with the applicable provisions hereof, including
(i) all exhibits, and (ii) for all purposes of this Amended Declaration and any such modification,
amendment or supplement, the provisions of the Trust Indenture Act that are deemed to be a part of
and govern this Amended Declaration and any such modification, amendment or supplement,
respectively.

     “Applicable Procedures” means, with respect to any transfer or transaction involving a
Book-Entry Preferred Security, the rules and procedures of the Clearing Agency for such Book-Entry
Preferred Security, in each case to the extent applicable to such transaction and as in effect from
time to time.

     “Authorized Officer” of any Person means any officer of such Person or any Person authorized
by or pursuant to a resolution of the Board of Directors of such Person.

 

3

     “Bankruptcy Event” means, with respect to any Person:

     (a) the entry of a decree or order by a court having jurisdiction in the premises judging such
Person a bankrupt or insolvent, or approving as properly filed a petition seeking reorganization,
arrangement, adjudication or composition of or in respect of such Person under any applicable
federal or state bankruptcy, insolvency, reorganization or other similar law, or appointing a
receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of such Person or
of any substantial part of its property or ordering the winding up or liquidation of its affairs,
and the continuance of any such decree or order unstayed and in effect for a period of 60
consecutive days; or

     (b) the institution by such Person of proceedings to be adjudicated a bankrupt or insolvent,
or the consent by it to the institution of bankruptcy or insolvency proceedings against it, or the
filing by it of a petition or answer or consent seeking reorganization or relief under any
applicable federal or state bankruptcy, insolvency, reorganization or other similar law, or the
consent by it to the filing of any such petition or to the appointment of a receiver, liquidator,
assignee, trustee, sequestrator (or similar official) of such Person or of any substantial part of
its property, or the making by it of an assignment for the benefit of creditors, or the admission
by it in writing of its inability to pay its debts generally as they become due and its willingness
to be adjudicated a bankrupt, or the taking of corporate action by such Person in furtherance of
any such action.

     “Bankruptcy Laws” has the meaning specified in Section 10.9.

     “Board of Directors” means either the board of directors of the Sponsor or any committee of
that board duly authorized to act hereunder.

     “Book-Entry Preferred Securities Certificate” means a Preferred Securities Certificate
evidencing ownership of Book-Entry Preferred Securities.

     “Book-Entry Preferred Security” means a Preferred Security, the ownership and transfers of
which shall be made through book entries by a Clearing Agency as described in Section 5.4.

     “Business Day” means any day other than a Saturday, Sunday, or any other day on which banking
institutions and trust companies in New York, New York, Columbus, Ohio, or [Wilmington, Delaware]
are permitted or required by any applicable law to close, or on or after •, 2017, a day that is not
a London banking day.

     “Certificate Depository Agreement” means the Issuer Letter of Representations between the
Issuer Trust and DTC, as the initial Clearing Agency, dated as of the Closing Date.

     “Clearing Agency” means an organization registered as a “clearing agency” pursuant to Section
17A of the Exchange Act. DTC will be the initial Clearing Agency.

     “Clearing Agency Participant” means a broker, dealer, bank, other financial institution or
other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges
of securities deposited with the Clearing Agency.

 

4

     “Closing Date” means the Time of Delivery, which date is also the date of execution and
delivery of this Amended Declaration.

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

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

     “Common Securities Certificate” means a certificate evidencing ownership of Common Securities,
substantially in the form attached as Exhibit B.

     “Common Security” means a common undivided beneficial interest in assets of the Issuer Trust,
having a Liquidation Amount of $1,000 and having the rights provided therefor in this Amended
Declaration, including the right to receive Distributions and a Liquidation Distribution to the
extent provided herein.

     “Corporate Trust Office” means (i) when used with respect to the Property Trustee, the office
of the Property Trustee at which, at any particular time, its corporate trust business shall be
principally administered, which office at the date hereof is located at The Bank of New York 101
Barclay Street, New York, New York 10286, Attention: Corporate Trust Administration, and (ii)
when used with respect to the Debenture Trustee, the principal office of the Debenture Trustee
located at The Bank of New York 101 Barclay Street 8W, New York, New York 10286, Attention:
Corporate Finance Group.

     “Debenture Event of Default” means any “Event of Default” specified in Section 2.9(a) of the
Supplemental Indenture.

     “Debenture Redemption Date” means, with respect to any Debentures to be redeemed under the
Indenture, the date fixed for redemption of such Debentures under the Indenture.

     “Debenture Repayment Date” means a Repayment Date as defined in the Supplemental Indenture.

     “Debenture Trustee” means the Person identified as the “Trustee” in the Indenture, solely in
its capacity as Trustee pursuant to the Indenture and not in its individual capacity, or its
successor in interest in such capacity, or any successor Trustee appointed as provided in the
Indenture.

     “Debentures” means the Sponsor’s ___% Junior Subordinated Notes due ___, issued pursuant
to the Indenture and the Supplemental Indenture.

     “Definitive Preferred Securities Certificates” means either or both (as the context requires)
of (i) Preferred Securities Certificates issued as Book-Entry Preferred Securities Certificates as
provided in Section 5.2 or 5.4, and (ii) Preferred Securities Certificates issued in certificated,
fully registered form as provided in Section 5.2, 5.4 or 5.5.

 

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     “Delaware Statutory Trust Act” means Chapter 38 of Title 12 of the Delaware Code, 12
Del. Code § 3801 et seq., as it may be amended from time to time.

     “Delaware Trustee” means the Person identified as the “Delaware Trustee” in the preamble to
this Amended Declaration, solely in its capacity as Delaware Trustee of the Issuer Trust and not in
its individual capacity, or its successor in interest in such capacity, or any successor Delaware
Trustee appointed as herein provided.

     “Distribution Date” has the meaning specified in Section 4.1(a).

     “Distributions” means amounts payable in respect of the Trust Securities as provided in
Section 4.1.

     “DTC” means The Depository Trust Company.

     “Early Termination Event” has the meaning specified in Section 9.2.

     “Event of Default” means any one of the following events (whatever the reason for such event
and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to
any judgment, decree or order of any court or any order, rule or regulation of any administrative
or governmental body):

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

     (b) default by the Issuer Trust in the payment of any Distribution when it becomes due and
payable, and continuation of such default for a period of 30 days; or

     (c) default by the Issuer Trust in the payment of any Redemption Price of any Trust Security
when it becomes due and payable; or

     (d) default in the performance, or breach, in any material respect, of any covenant or
warranty of the Issuer Trustees in this Amended Declaration (other than those specified in clause
(b) or (c) above) and continuation of such default or breach for a period of 90 days after there
has been given, by registered or certified mail, to the Issuer Trustees and to the Sponsor by the
Holders of at least 25% in aggregate Liquidation Amount of the Outstanding Preferred Securities a
written notice specifying such default or breach and requiring it to be remedied and stating that
such notice is a “Notice of Default” hereunder; or

     (e) the occurrence of a Bankruptcy Event with respect to the Property Trustee if a successor
Property Trustee has not been appointed within 90 days thereof.

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

     “Expiration Date” has the meaning specified in Section 9.1.

     “Federal Reserve Board” means the Board of Governors of the Federal Reserve System, as from
time to time constituted, or if at any time after the execution of this Amended

 

6

Declaration the Federal Reserve is not existing and performing the duties now assigned to it,
then the bodies performing such duties at such time, or the Federal Reserve Bank of Cleveland, or
any successor Federal reserve bank having primary jurisdiction over the Sponsor.

     “Final Repayment Date” means the Final Repayment Date as specified in the Supplemental
Indenture (as it may have been extended pursuant to the terms thereof).

     “Guarantee Agreement” means the Guarantee Agreement executed and delivered by the Sponsor and
The Bank of New York, as guarantee trustee, contemporaneously with the execution and delivery of
this Amended Declaration, for the benefit of the holders of the Preferred Securities, as amended
from time to time.

     “Holder” means a Person in whose name a Trust Security or Trust Securities are registered in
the Securities Register; any such Person shall be a beneficial owner within the meaning of the
Delaware Statutory Trust Act.

     “Indenture” means the Indenture, dated as of _____, 20___, between the Sponsor and the
Debenture Trustee, as trustee, as amended or supplemented from time to time.

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

     “Issuer Trust” means the Delaware statutory trust known as “Huntington Capital ___”, which
was formed on ________ under the Delaware Statutory Trust Act pursuant to the Original
Declaration and the filing of the Certificate of Trust, and continued pursuant to this Amended
Declaration.

     “Issuer Trustees” has the meaning specified in the preamble to this Amended Declaration.

     “Lien” means any lien, pledge, charge, encumbrance, mortgage, deed of trust, adverse ownership
interest, hypothecation, assignment, security interest or preference, priority or other security
agreement or preferential arrangement of any kind or nature whatsoever.

     “Like Amount” means (a) with respect to a redemption of any Trust Securities, Trust Securities
having a Liquidation Amount equal to the principal amount of Debentures to be contemporaneously
redeemed or repaid in accordance with the Indenture and the Supplemental Indenture, the proceeds of
which will be used to pay the Redemption Price of such Trust Securities, (b) with respect to a
distribution of Debentures to Holders of Trust Securities in connection with a dissolution or
liquidation of the Issuer Trust, Debentures having a principal amount equal to the Liquidation
Amount of the Trust Securities of the Holder to whom such Debentures are distributed, and (c) with
respect to any distribution of Additional Amounts to Holders of Trust Securities, Debentures having
a principal amount equal to the Liquidation Amount of the Trust Securities in respect of which such
distribution is made.

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

 

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     “Liquidation Date” means the date of the dissolution of the Issuer Trust pursuant to Section
9.4.

     “Liquidation Distribution” has the meaning specified in Section 9.4(d).

     “London banking day” means any day on which commercial banks are open for general business
(including dealings in deposits in U.S. dollars) in London, England.

     “Majority in Liquidation Amount of the Preferred Securities” or “Majority in Liquidation
Amount of the Common Securities” means, except as provided by the Trust Indenture Act, Preferred
Securities or Common Securities, as the case may be, representing more than 50% of the aggregate
Liquidation Amount of all then Outstanding Preferred Securities or Common Securities, as the case
may be.

     “Officers’ Certificate” means, with respect to any person, a certificate signed by any two
Authorized Officers of such Person. Any Officers’ Certificate delivered with respect to compliance
with a condition or covenant provided for in this Amended Declaration shall include:

     (a) a statement by each officer signing the Officers’ Certificate that such officer has read
the covenant or condition and the definitions relating thereto;

     (b) a brief statement of the nature and scope of the examination or investigation undertaken
by such officer in rendering the Officers’ Certificate;

     (c) a statement that such officer has made such examination or investigation as, in such
officer’s opinion, is necessary to enable such officer 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, in the opinion of such officer, such condition or covenant has
been complied with.

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for or an employee
of the Sponsor or an Affiliate of the Sponsor, and who shall be reasonably acceptable to the
Property Trustee.

     “Original Declaration” has the meaning specified in the recitals to this Amended Declaration.

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

     (a) Trust Securities theretofore cancelled by the Property Trustee or delivered to the
Property Trustee for cancellation;

     (b) Trust Securities for whose payment or redemption money in the necessary amount has been
theretofore deposited with the Property Trustee or any Paying Agent; provided that, if

 

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such Trust Securities are to be redeemed, notice of such redemption has been duly given
pursuant to this Amended Declaration; and

     (c) Trust Securities that have been paid or in exchange for or in lieu of which other Trust
Securities have been executed and delivered pursuant to Sections 5.4, 5.5, 5.6 and 5.11;

provided, however, that in determining whether the Holders of the requisite Liquidation Amount of
the Outstanding Preferred Securities have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, Preferred Securities beneficially owned by the Sponsor, any
Issuer Trustee or any Affiliate of the Sponsor or of any Issuer Trustee shall be disregarded and
deemed not to be Outstanding, except that (a) in determining whether any Issuer Trustee shall be
protected in relying upon any such request, demand, authorization, direction, notice, consent or
waiver, only Preferred Securities that a Responsible Officer of such Issuer Trustee knows to be so
owned shall be so disregarded, and (b) the foregoing shall not apply at any time when all of the
outstanding Preferred Securities are beneficially owned by the Sponsor, one or more of the Issuer
Trustees and/or any such Affiliate. Preferred Securities so owned that have been pledged in good
faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the
Administrative Trustees the pledgee’s right so to act with respect to such Preferred Securities and
that the pledgee is not the Sponsor or any Affiliate of the Sponsor.

     “Owner” means each Person who is the beneficial owner of Book-Entry Preferred Securities as
reflected in the records of the Clearing Agency or, if a Clearing Agency Participant is not the
Owner, then as reflected in the records of a Person maintaining an account with such Clearing
Agency (directly or indirectly, in accordance with the rules of such Clearing Agency).

     “Paying Agent” means any paying agent or co-paying agent appointed pursuant to Section 5.10
and shall initially be The Bank of New York.

     “Payment Account” means a segregated non-interest-bearing corporate trust account maintained
by or on behalf of the Property Trustee for the benefit of the Holders in which all amounts paid in
respect of the Debentures will be held and from which the Property Trustee, through the Paying
Agent, shall make payments to the Holders in accordance with Sections 4.1 and 4.2.

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

     “Preferred Securities Certificate” means a certificate evidencing ownership of Preferred
Securities, substantially in the form attached as Exhibit C.

     “Preferred Security” means a preferred undivided beneficial interest in the assets of the
Issuer Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this
Amended Declaration, including the right to receive Distributions and a Liquidation Distribution to
the extent provided herein.

 

9

     “Property Trustee” means the Person identified as the “Property Trustee” in the preamble to
this Amended Declaration, solely in its capacity as Property Trustee of the Trust and not in its
individual capacity, or its successor in interest in such capacity, or any successor Property
Trustee appointed as herein provided.

     “Prospectus Supplement” means the prospectus supplement, dated __________, 20___, of the
Sponsor and the Issuer Trust relating to the offering of the Preferred Securities.

     “Redemption Date” means, with respect to any Trust Security to be redeemed, the date fixed for
such redemption by or pursuant to this Amended Declaration; provided that each Debenture Redemption
Date and the stated maturity of the Debentures shall be a Redemption Date for a Like Amount of
Trust Securities.

     “Redemption Price” means, with respect to any Trust Security, the Liquidation Amount of such
Trust Security, plus accumulated and unpaid Distributions to the Redemption Date plus the related
amount of the premium, if any, paid by the Sponsor upon the concurrent redemption of a Like Amount
of Debentures or Debentures having a principal amount equal to the Liquidation Amount of such Trust
Security.

     “Relevant Trustee” has the meaning specified in Section 8.10.

     “Responsible Officer” means, with respect to the Property Trustee, any officer of the Property
Trustee assigned to its corporate trust services department, or with respect to a particular
corporate trust matter, any officer to whom such matter is referred because of such officer’s
knowledge and familiarity with the particular subject.

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

     “Securities Register” and “Securities Registrar” have the respective meanings specified in
Section 5.5.

     “Sponsor” has the meaning specified in the preamble to this Amended Declaration.

     “Supplemental Indenture” means the Supplemental Indenture, dated as of __________, 20___,
between the Sponsor and the Debenture Trustee, as trustee, as amended or supplemented from time to
time.

     “Time of Delivery” has the meaning specified in the Underwriting Agreement.

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

     “Trust Property” means (a) the Debentures, (b) any cash on deposit in, or owing to, the
Payment Account, and (c) all proceeds and rights in respect of the foregoing and any other

 

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property and assets for the time being held or deemed to be held by the Property Trustee
pursuant to this Amended Declaration.

     “Trust Securities Certificate” means any one of the Common Securities Certificates or the
Preferred Securities Certificates.

     “Trust Security” means any one of the Common Securities or the Preferred Securities.

     “Underwriting Agreement” means the Underwriting Agreement, dated as of _____, 20___, among
the Issuer Trust, the Sponsor and the Underwriters named therein, as the same may be amended from
time to time.

     “U.S. Person” means a United States person as defined in Section 7701(a)(30) of the Code.

ARTICLE II

CONTINUATION OF THE ISSUER TRUST

     Section 2.1.   Name.

     The trust established under the Original Declaration and continued hereby shall be known as
“Huntington Capital ________”, as such name may be modified from time to time by the Administrative
Trustees following written notice to the Holders of Trust Securities and the other Issuer Trustees,
in which name the Issuer Trustees may conduct the business of the Issuer Trust, make and execute
contracts and other instruments on behalf of the Issuer Trust and sue and be sued.

     Section 2.2.   Office of the Delaware Trustee; Principal Place of Business.

     The address of the Delaware Trustee in the State of Delaware is White Clay Center, P.O. Box
6973, Route 273, Newark, Delaware 19711, Attention: Corporate Trust Department, or such other
address in the State of Delaware as the Delaware Trustee may designate by written notice to the
Holders, the Sponsor, the Property Trustee and the Administrative Trustees. The principal executive
office of the Issuer Trust is Huntington Center, 41 South High Street, Columbus, Ohio 43287.

     Section 2.3.   Initial Contribution of Trust Property; Organizational Expenses.

     The Sponsor deposited the sum of $___ in connection with the Original Declaration, which
constituted the initial Trust Property. The Sponsor shall pay organizational expenses of the Issuer
Trust as they arise or shall, upon request of any Issuer Trustee, promptly reimburse such Issuer
Trustee for any such expenses paid by such Issuer Trustee. The Sponsor shall make no claim upon the
Trust Property for the payment of such expenses.

 

11

     Section 2.4.   Issuance of the Preferred Securities.

     On _______, 20___, the Sponsor, both on its own behalf and on behalf of the Issuer Trust
pursuant to the Original Declaration, executed and delivered the Underwriting Agreement, which
action is hereby authorized, approved, ratified and confirmed in all respects. Contemporaneously
with the execution and delivery of this Amended Declaration, an Administrative Trustee, on behalf
of the Issuer Trust, shall execute in accordance with Sections 5.2, 5.3 and 8.9(a) and deliver to
the Property Trustee for authentication and the Property Trustee shall deliver to the Underwriters,
a Preferred Securities Certificate, registered in the name as set forth in Section 5.2(b),
evidencing an aggregate of ___ Preferred Securities having an aggregate Liquidation Amount of
$___, against receipt of the aggregate purchase price of such Preferred Securities of $___, by
the Property Trustee. On any one or more dates after the execution and delivery of this Amended
Declaration additional Preferred Securities Certificates representing Preferred Securities may be
issued in accordance with Section 5.3, registered in the name of the nominee of the initial
Clearing Agency, against receipt by the Property Trustee of the purchase price that is determined
by the Sponsor.

     Section 2.5.   Issuance of the Common Securities; Subscription and Purchase of Debentures.

     Contemporaneously with the execution and delivery of this Amended Declaration, an
Administrative Trustee, on behalf of the Issuer Trust, shall execute in accordance with Sections
5.2, 5.3 and 8.9(a) and the Property Trustee shall deliver to the Sponsor, Common Securities
Certificates, registered in the name of the Sponsor, evidencing an aggregate of ___ Common
Securities having an aggregate Liquidation Amount of $___, against receipt of the aggregate
purchase price of such Common Securities of $___ by the Property Trustee. Contemporaneously
therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and
purchase from the Sponsor the Debentures, registered in the name of the Property Trustee on behalf
of the Issuer Trust and having an aggregate principal amount equal to $___ and, in satisfaction
of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust,
shall deliver to the Sponsor the sum of $___ (being the sum of the amounts delivered to the
Property Trustee pursuant to (i) the second sentence of Section 2.4 and (ii) the first sentence of
this Section 2.5). In connection with any subsequent issuance of Preferred Securities as set forth
in the last sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust,
shall contemporaneously with any such additional issuance, subscribe to and purchase from the
Sponsor Debentures, registered in the name of the Issuer Trust, having an aggregate principal
amount equal to the aggregate Liquidation Amount of Preferred Securities being issued by the Issuer
Trust pursuant to the last sentence of Section 2.4 against payment of a purchase price equal to the
aggregate purchase prices of the Preferred Securities being so issued.

     Section 2.6.   Continuation of Trust.

     The exclusive purposes and functions of the Issuer Trust are (a) to issue and sell Trust
Securities and use the proceeds from such sale to acquire the Debentures, and (b) to engage in
those activities convenient, necessary or incidental thereto. The Sponsor hereby reaffirms the
appointment of the Delaware Trustee, the Property Trustee and the Administrative Trustees as
trustees of the Issuer Trust, to have all the rights, powers and duties to the extent set forth
herein,

 

12

and the respective Issuer Trustees hereby accept such appointment. The Property Trustee hereby
declares that it will hold the Trust Property in trust upon and subject to the conditions set forth
herein for the benefit of the Issuer Trust and the Holders. The Administrative Trustees shall have
all rights, powers and duties set forth herein and in accordance with applicable law with respect
to accomplishing the purposes of the Issuer Trust. The Delaware Trustee shall not be entitled to
exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of
the Property Trustee or the Administrative Trustees, or any of the duties and responsibilities of
the Issuer Trustees generally, set forth herein. The Delaware Trustee shall be one of the trustees
of the Issuer Trust for the sole and limited purpose of fulfilling the requirements of Section 3807
of the Delaware Statutory Trust Act and for taking such actions as are required to be taken by a
Delaware trustee under the Delaware Statutory Trust Act.

     Section 2.7.   Authorization to Enter into Certain Transactions.

     (a) The Issuer Trustees shall conduct the affairs of the Issuer Trust in accordance with
the terms of this Amended Declaration. Subject to the limitations set forth in paragraph (b) of
this Section, and in accordance with the following provisions (i) and (ii), the Issuer Trustees
shall have the authority to enter into all transactions and agreements determined by the Issuer
Trustees to be appropriate in exercising the authority, express or implied, otherwise granted to
the Issuer Trustees, as the case may be, under this Amended Declaration, and to perform all acts in
furtherance thereof, including, without limitation, the following:

     (i) To the extent provided in this Amended Declaration, the winding up of the affairs of and
liquidation of the Issuer Trust and the preparation, execution and filing of the certificate of
cancellation with the Secretary of State of the State of Delaware;

     (ii) As among the Issuer Trustees, each Administrative Trustee, acting singly or collectively,
shall have the power and authority to act on behalf of the Issuer Trust with respect to the
following matters:

     (A) the preparation and filing by the Issuer Trust with the Commission and the execution on
behalf of the Issuer Trust of a registration statement on the appropriate form in relation to the
Preferred Securities, including any amendments thereto and the taking of any action necessary or
desirable to sell the Preferred Securities in a transaction or a series of transactions pursuant
thereto;

     (B) the issuance and sale of the Trust Securities;

     (C) causing the Issuer Trust to perform the transactions contemplated by and its obligations
under the Underwriting Agreement and causing the Issuer Trust to enter into, and to execute,
deliver and perform the Certificate Depository Agreement and such other agreements as may be
necessary or desirable in connection with the purposes and function of the Issuer Trust;

     (D) assisting in the registration of the Preferred Securities under the Securities Act and
under applicable state securities or blue sky laws and the qualification of this Amended
Declaration as a trust indenture under the Trust Indenture Act;

 

13

     (E) assisting in the listing of the Preferred Securities upon such securities exchange or
exchanges as shall be determined by the Sponsor, with the registration of the Preferred Securities
under the Exchange Act and with the preparation and filing of all periodic and other reports and
other documents pursuant to the foregoing, as applicable;

     (F) assisting in the sending of notices (other than notices of default) and other information
regarding the Trust Securities and the Debentures to the Holders in accordance with this Amended
Declaration;

     (G) the consent to the appointment of a Paying Agent, authenticating agent and Securities
Registrar in accordance with this Amended Declaration (which consent shall not be unreasonably
withheld);

     (H) the execution of the Trust Securities on behalf of the Issuer Trust in accordance with
this Amended Declaration;

     (I) the execution and delivery of closing certificates, if any, pursuant to the Underwriting
Agreement and application for a taxpayer identification number for the Issuer Trust;

     (J) unless otherwise required by the Delaware Statutory Trust Act or the Trust Indenture Act,
executing on behalf of the Issuer Trust (either acting alone or together with the other
Administrative Trustee) any documents that the Administrative Trustees have the power to execute
pursuant to this Amended Declaration;

     (K) the taking of any action incidental to the foregoing as the Administrative Trustees may
from time to time determine to be necessary or advisable to give effect to the terms of this
Amended Declaration; and

     (iii) As among the Issuer Trustees, the Property Trustee shall have the power, duty and
authority to act on behalf of the Issuer Trust with respect to the following matters:

     (A) the establishment of the Payment Account;

     (B) the receipt of the Debentures;

     (C) the collection of interest, principal and any other payments made in respect of the
Debentures and the holding of such amounts in the Payment Account;

     (D) the distribution through the Paying Agent of amounts distributable to the Holders in
respect of the Trust Securities;

     (E) the exercise of all of the rights, powers and privileges of a holder of the Debentures;

 

14

     (F) the sending of notices of default and other information regarding the Trust Securities and
the Debentures to the Holders in accordance with this Amended Declaration;

     (G) the distribution of the Trust Property in accordance with the terms of this Amended
Declaration;

     (H) performing the duties of the Property Trustee set forth in this Amended Declaration; and

     (I) after an Event of Default (other than under paragraph (b), (c), (d) or (e) of the
definition of such term if such Event of Default is by or with respect to the Property Trustee) the
taking of any action incidental to the foregoing as the Property Trustee may from time to time
determine is necessary or advisable to give effect to the terms of this Amended Declaration and
protect and conserve the Trust Property for the benefit of the Holders (without consideration of
the effect of any such action on any particular Holder).

     Except as otherwise provided in this Section 2.7(a)(ii), the Property Trustee shall have none
of the duties, liabilities, powers or the authority of the Administrative Trustees set forth in
Section 2.7(a)(i).

     (b) So long as this Amended Declaration remains in effect, the Issuer Trust (or the Issuer
Trustees acting on behalf of the Issuer Trust) shall not undertake any business, activities or
transaction except as expressly provided herein or contemplated hereby. In particular, the Issuer
Trustees (acting on behalf of the Issuer Trust) shall not (i) acquire any investments or engage in
any activities not authorized by this Amended Declaration, (ii) sell, assign, transfer, exchange,
mortgage, pledge, set off or otherwise dispose of any of the Trust Property or interests therein,
including to Holders, except as expressly provided herein, (iii) take any action that would cause
the Issuer Trust to be classified as other than a grantor trust for U.S. federal income tax
purposes, (iv) incur any indebtedness for borrowed money or issue any other debt, (v) take or
consent to any action that would result in the placement of a Lien on any of the Trust Property,
(vi) apply any of the Trust Property or its proceeds other than as provided herein, (vii) acquire
any assets other than the Trust Property, (viii) possess any power or otherwise act in such a way
as to vary the Trust Property, except as expressly provided herein, (ix) possess any power or
otherwise act in such a way as to vary the terms of the Trust Securities in any way whatsoever
(except to the extent expressly authorized in this Amended Declaration or by the terms of the Trust
Securities) or (x) issue any securities or other evidences of beneficial ownership of, or
beneficial interest in, the Issuer Trust other than the Trust Securities. The Administrative
Trustees shall defend all claims and demands of all Persons at any time claiming any Lien on any of
the Trust Property adverse to the interest of the Issuer Trust or the Holders in their capacity as
Holders.

     (c) In connection with the issue and sale of the Preferred Securities, the Sponsor shall
have the right and responsibility to assist the Issuer Trust with respect to, or effect on behalf
of the Issuer Trust, the following (and any actions taken by the Sponsor in furtherance of the
following prior to the date of this Amended Declaration are hereby ratified and confirmed in all
respects):

 

15

     (i) the preparation and filing by the Issuer Trust with the Commission and the execution on
behalf of the Issuer Trust of a registration statement on the appropriate form in relation to the
Preferred Securities, including any amendments thereto and the taking of any action necessary or
desirable to sell the Preferred Securities in a transaction or a series of transactions pursuant
thereto;

     (ii) the determination of the states in which to take appropriate action to qualify or
register for sale all or part of the Preferred Securities and the taking of any and all such acts,
other than actions that must be taken by or on behalf of the Issuer Trust, and advice to the Issuer
Trust of actions that must be taken by or on behalf of the Issuer Trust, and the preparation for
execution and filing of any documents to be executed and filed by the Issuer Trust or on behalf of
the Issuer Trust, as the Sponsor deems necessary or advisable in order to comply with the
applicable laws of any such States in connection with the sale of the Preferred Securities;

     (iii) if applicable, the preparation for filing by the Issuer Trust and execution on behalf of
the Issuer Trust of an application to the New York Stock Exchange or any other national stock
exchange or the Nasdaq National Market for listing upon notice of issuance of any Preferred
Securities;

     (iv) if applicable, the preparation for filing by the Issuer Trust with the Commission and the
execution on behalf of the Issuer Trust of a registration statement on Form 8-A relating to the
registration of the Preferred Securities under Section 12(b) or 12(g) of the Exchange Act,
including any amendments thereto;

     (v) the negotiation of the terms of, and the execution and delivery of, the Underwriting
Agreement providing for the sale of the Preferred Securities; and

     (vi) the taking of any other actions necessary or desirable to carry out any of the foregoing
activities.

     (d) Notwithstanding anything herein to the contrary, the Administrative Trustees are
authorized and directed to conduct the affairs of the Issuer Trust and to operate the Issuer Trust
so that the Issuer Trust will not be deemed to be an “investment company” required to be registered
under the Investment Company Act, and will not be classified as other than a grantor trust for U.S.
federal, state and local income tax purposes and so that the Debentures will be treated as
indebtedness of the Depositor for U.S. federal, state and local income tax purposes. In this
connection, the Sponsor and the Administrative Trustees are authorized to take any action, not
inconsistent with applicable law, the Certificate of Trust or this Amended Declaration, that they
determine in their discretion to be necessary or desirable for such purposes, as long as such
action does not adversely affect in any material respect the interests of the Holders of the
Outstanding Preferred Securities. In no event shall the Sponsor or the Issuer Trustees be liable to
the Issuer Trust or the Holders for any failure to comply with this Section that results from a
change in law or regulation or in the interpretation thereof.

     Section 2.8.   Assets of Trust.

     The assets of the Issuer Trust shall consist solely of the Trust Property.

 

16

     Section 2.9.   Title to Trust Property.

     Legal title to all Trust Property shall be vested at all times in the Property Trustee (in its
capacity as such) and shall be held and administered by the Property Trustee in trust for the
benefit of the Issuer Trust and the Holders in accordance with this Amended Declaration.

ARTICLE III

PAYMENT ACCOUNT

     Section 3.1.   Payment Account.

     (a)    On or prior to the Closing Date, the Property Trustee shall establish the Payment
Account with the Paying Agent. The Property Trustee and its agents shall have exclusive control and
sole right of withdrawal with respect to the Payment Account for the purpose of making deposits in
and withdrawals from the Payment Account in accordance with this Amended Declaration. All monies
and other property deposited or held from time to time in the Payment Account shall be held by the
Property Trustee in the Payment Account for the exclusive benefit of the Holders and for
distribution as herein provided, including (and subject to) any priority of payments provided for
herein.

     (b)    The Property Trustee shall deposit (or cause to be deposited) in the Payment Account,
promptly upon receipt, all payments of principal of or interest on, and any other payments or
proceeds with respect to, the Debentures. Amounts held in the Payment Account shall not be invested
by the Property Trustee pending distribution thereof.

ARTICLE IV

DISTRIBUTIONS; REDEMPTION

     Section 4.1.   Distributions.

     (a)    The Trust Securities represent undivided beneficial interests in the Trust Property,
and Distributions (including of Additional Amounts) will be made on the Trust Securities at the
rate and on the dates that payments of interest (including of Additional Interest, as defined in
the Indenture) are made on the Debentures. Accordingly:

     (i) Distributions on the Trust Securities shall be cumulative, and will accumulate whether or
not there are funds of the Issuer Trust available for the payment of Distributions. Distributions
shall accumulate from ______, 20___, and, except in the event (and to the extent) that the
Sponsor exercises its right to defer the payment of interest on the Debentures pursuant to the
Indenture and the Supplemental Indenture, shall be payable (i) semi-annually in arrears on
______  and ______ of each year, commencing on ______, 20___ until ______, 20___; (ii)
quarterly in arrears on ______,
______, ______  and
______  of each year, beginning
on ______ until ______, 20___; and (iii) monthly thereafter in arrears on the first day of
each month. If any date on which a Distribution is otherwise payable on the Trust Securities prior
to _______, 20___ is not a Business Day, then the payment of such

 

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Distribution shall be made on the next succeeding day that is a Business Day (without any
interest or other payment in respect of any such delay), with the same force and effect as if made
on the date on which such payment was originally payable. If any date on which a Distribution is
otherwise payable on the Trust Securities after to _____, 20___ is not a Business Day, then the
payment of such Distribution shall be made on the next succeeding day that is a Business Day. Each
date on which distributions are payable in accordance with this Section 4.1(a), a “Distribution
Date”.

     (ii) In the event (and to the extent) that the Sponsor exercises its right under the Indenture
and the Supplemental Indenture to defer the payment of interest on the Debentures, Distributions on
the Trust Securities shall be deferred but shall continue to accumulate. Distributions on the Trust
Securities shall be payable on the Liquidation Amount of the Trust Securities at the rate per annum
equal to the rate of interest on the Debentures. The amount of Distributions payable shall be
computed on the basis of (i) a 360-day year of twelve 30-day months until _____, 20___ and (ii)
a 360-day year and the actual number of days elapsed thereafter. The amount of Distributions
payable for any period shall include any Additional Amounts in respect of such period.

     (iii) Distributions on the Trust Securities shall be made by the Paying Agent on behalf of the
Property Trustee from the Payment Account and shall be payable on each Distribution Date only to
the extent that the Issuer Trust has funds then on hand and available in the Payment Account for
the payment of such Distributions.

     (b) Distributions on the Trust Securities with respect to a Distribution Date shall be
payable to the Holders thereof as they appear on the Securities Register for the Trust Securities
at the close of business on the relevant record date, which shall be the Business Day prior to the
relevant Distribution Date; provided that if the Trust Securities are not in book-entry form, the
relevant record date shall be the date 15 days prior to the relevant Distribution Date, whether or
not a Business Day. Distributions payable on any Trust Securities that are not punctually paid on
an applicable Distribution Date will cease to be payable to the Person in whose name such Trust
Securities are registered on the relevant record date, and such defaulted Distribution will instead
be payable to the Person in whose name such Trust Securities are registered on the special record
date or other specified date for determining Holders entitled to such defaulted Distributions.

Section 4.2.   Redemption.

     (a) On each Debenture Redemption Date and on each Debenture Repayment Date, the Issuer
Trust will be required to redeem a Like Amount of Trust Securities at the Redemption Price.

     (b) Notice of redemption shall be given by the Property Trustee by first-class mail,
postage prepaid, mailed not less than 30 nor more than 60 days prior to the Redemption Date (or, in
the case of a Debenture Repayment Date, not less than 10 days nor more than 30 days prior to the
Redemption Date) to each Holder of Trust Securities to be redeemed, at such Holder’s address
appearing in the Security Register. All notices of redemption shall state:

     (i) the Redemption Date;

 

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     (ii) the Redemption Price or if the Redemption Price cannot be calculated prior to the time
the notice is required to be sent, an estimate of the Redemption Price together with a statement
that it is an estimate and that the actual Redemption Price will be calculated on the third
Business Day prior to the Redemption Date (and if an estimate is provided, a further notice shall
be sent of the actual Redemption Price on the date that such Redemption Price is calculated);

     (iii) the CUSIP number or CUSIP numbers of the Preferred Securities affected (if applicable);

     (iv) if less than all the Outstanding Trust Securities are to be redeemed, the identification
and the aggregate Liquidation Amount of the particular Trust Securities to be redeemed;

     (v) that on the Redemption Date the Redemption Price will become due and payable upon each
such Trust Security to be redeemed and that Distributions thereon will cease to accumulate on and
after said date, except as provided in Section 4.2(d); and

     (vi) if the Preferred Securities Certificates are not Book-Entry Preferred Securities
Certificates on the Redemption Date, the place or places where the Preferred Securities
Certificates are to be surrendered for the payment of the Redemption Price.

     The Issuer Trust in issuing the Trust Securities may use “CUSIP” numbers (if then generally in
use), and, if so, the Property Trustee shall indicate the “CUSIP” numbers of the Trust Securities
in notices of redemption and related materials as a convenience to Holders; provided that any such
notice may state that no representation is made as to the correctness of such numbers either as
printed on the Trust Securities or as contained in any notice of redemption and related materials.

     (c)    The Trust Securities redeemed on each Redemption Date shall be redeemed at the
Redemption Price. Redemptions of the Trust Securities shall be made and the Redemption Price shall
be payable on each Redemption Date only to the extent that the Issuer Trust has the Redemption
Price then on hand and available for the payment of such Redemption Price, including, in the case
of a cash redemption, funds then on hand and available in the Payment Account for the payment of
such Redemption Price and, in the case of a Redemption using Debentures, funds on hand and
available to redeem or repay such Debentures.

     (d)    If the Property Trustee gives a notice of redemption in respect of any Preferred
Securities, then, by 12:00 noon, New York City time, on the Redemption Date, subject to Section
4.2(c), the Property Trustee will, with respect to Book-Entry Preferred Securities, irrevocably
deposit with the Clearing Agency for such Book-Entry Preferred Securities, to the extent available
therefor, the applicable Redemption Price and will give such Clearing Agency irrevocable
instructions and authority to pay the Redemption Price to the Holders of the Preferred Securities
in immediately available funds. With respect to Preferred Securities that are not Book-Entry
Preferred Securities, the Property Trustee, subject to Section 4.2(c), will irrevocably deposit
with the Paying Agent, to the extent available therefor, the applicable Redemption Price and will
give the Paying Agent irrevocable instructions and authority to pay

 

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the Redemption Price to the Holders of the Preferred Securities upon surrender of their
Preferred Securities Certificates. Notwithstanding the foregoing, Distributions payable on or prior
to the Redemption Date for any Trust Securities called for redemption shall be payable to the
Holders of such Trust Securities as they appear on the Securities Register for the Trust Securities
on the relevant record dates for the related Distribution Dates. If notice of redemption shall have
been given and the Redemption Price deposited as required, then upon the date of such deposit, all
rights of Holders holding Trust Securities so called for redemption will terminate, except the
right of such Holders to receive the Redemption Price and any Distribution payable in respect of
the Trust Securities on or prior to the Redemption Date, but without interest, and such Trust
Securities will cease to be outstanding. In the event that any date on which any Redemption Price
is payable is not a Business Day, then payment of the Redemption Price payable on such date will be
made on the next succeeding day that is a Business Day (without any interest or other payment in
respect of any such delay), with the same force and effect as if made on such date. In the event
that payment of the Redemption Price in respect of any Trust Securities called for redemption is
improperly withheld or refused and not paid either by the Issuer Trust or by the Sponsor pursuant
to the Guarantee Agreement, Distributions on such Trust Securities will continue to accumulate, as
set forth in Section 4.1, from the Redemption Date originally established by the Issuer Trust for
such Trust Securities to the date such Redemption Price is actually paid, in which case the actual
payment date will be the date fixed for redemption for purposes of
calculating the Redemption Price.

     (e)    Subject to Section 4.3(a), if less than all the Outstanding Trust Securities are to be
redeemed on a Redemption Date, the Property Trustee will select the particular Trust Securities to
be redeemed on a pro rata basis not more than 60 days prior to the Redemption Date from the
Outstanding Preferred Securities not previously called for redemption by any method the Property
Trustee deems fair and appropriate, provided that so long as the Preferred Securities are in
book-entry-only form, such selection shall be made in accordance with the customary procedures for
the Clearing Agency for the Preferred Securities. The Property Trustee shall promptly notify the
Securities Registrar in writing of the Preferred Securities selected for redemption and, in the
case of any Preferred Securities selected for partial redemption, the Liquidation Amount thereof to
be redeemed. For all purposes of this Amended Declaration, unless the context otherwise requires,
all provisions relating to the redemption of Preferred Securities shall relate, in the case of any
Preferred Securities redeemed or to be redeemed only in part, to the portion of the aggregate
Liquidation Amount of Preferred Securities that has been or is to be redeemed. The Property Trustee
shall also have the right in such a case to distribute the Debentures intended to be redeemed to
the Holders in redemption of their Preferred Securities.

     Section 4.3.   Subordination of Common Securities.

     (a)    Payment of Distributions (including any Additional Amounts) on, the Redemption Price
of, and the Liquidation Distribution in respect of the Trust Securities, as applicable, shall be
made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities
based on the Liquidation Amount of the Trust Securities; provided, however, that if on any
Distribution Date, Redemption Date or Liquidation Date any Event of Default resulting from a
Debenture Event of Default specified in Section 2.9(a) of the Supplemental Indenture shall have
occurred and be continuing, no payment of any Distribution (including any Additional Amounts) on,
Redemption Price of, or Liquidation Distribution in respect of any Common

 

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Security, and no other payment on account of the redemption, liquidation or other acquisition
of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid
Distributions (including any Additional Amounts) on all Outstanding Preferred Securities for all
Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption
Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called
for redemption, or in the case of payment of the Liquidation Distribution the full amount of such
Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided
for, and all funds immediately available to the Property Trustee shall first be applied to the
payment in full in cash of all Distributions (including any Additional Amounts) on, or the
Redemption Price of, the Preferred Securities then due and payable.

     (b)    In the case of the occurrence of any Event of Default resulting from any Debenture
Event of Default, the Holders of the Common Securities shall have no right to act with respect to
any such Event of Default under this Amended Declaration until the effect of all such Events of
Default with respect to the Preferred Securities have been cured, waived or otherwise eliminated.
Until all such Events of Default under this Amended Declaration with respect to the Preferred
Securities have been so cured, waived or otherwise eliminated, the Property Trustee shall act
solely on behalf of the Holders of the Preferred Securities and not on behalf of the Holders of the
Common Securities, and only the Holders of the Preferred Securities will have the right to direct
the Property Trustee to act on their behalf.

     Section 4.4.   Payment Procedures.

     Payments of Distributions (including any Additional Amounts) in respect of the Preferred
Securities, subject to the next succeeding sentence, shall be made by check mailed to the address
of the Person entitled thereto as such address shall appear on the Securities Register or, if the
Preferred Securities are held by a Clearing Agency, such Distributions shall be made to the
Clearing Agency in immediately available funds. A Holder of $1,000,000 or more in aggregate
Liquidation Amount of Preferred Securities may receive payments of cash Distributions (including
any Additional Amounts) by wire transfer of immediately available funds upon written request to the
Property Trustee not later than the 15th calendar day, whether or not a Business Day, before the
relevant Distribution Date. Payments in respect of the Common Securities shall be made in such
manner as shall be mutually agreed between the Property Trustee and the Holders of the Common
Securities.

     Section 4.5.   Tax Returns and Reports.

     The Administrative Trustees shall prepare (or cause to be prepared), at the Sponsor’s expense,
and file all United States federal, state and local tax and information returns and reports
required to be filed by or in respect of the Issuer Trust. In this regard, the Administrative
Trustees shall (a) prepare and file (or cause to be prepared and filed) all Internal Revenue
Service forms required to be filed in respect of the Issuer Trust in each taxable year of the
Issuer Trust, and (b) prepare and furnish (or cause to be prepared and furnished) to each Holder
all Internal Revenue Service forms required to be provided by the Issuer Trust. The Administrative
Trustees shall provide the Sponsor and the Property Trustee with a copy of all such returns and
reports promptly after such filing or furnishing. The Issuer Trustees shall comply with United
States federal withholding and backup withholding tax laws and information reporting requirements

 

21

with respect to any payments to Holders under the Trust Securities. Such withholding or backup
withholding (if any) shall be deducted from any payment and shall be considered as duly paid under
the terms of this Amended and Restated Declaration of Trust and the Trust Securities.

     Section 4.6.   Payments under Indenture or Pursuant to Direct Actions.

     Any amount payable hereunder to any Holder of Preferred Securities (or any Owner with respect
thereto) shall be reduced by the amount of any corresponding payment such Holder (or Owner) has
directly received pursuant to Section 2.12 of the Supplemental Indenture or Section 5.13 of this
Amended Declaration.

ARTICLE V

TRUST SECURITIES CERTIFICATES

     Section 5.1.   Initial Ownership.

     Upon the formation of the Issuer Trust and the contribution by the Sponsor pursuant to Section
2.3 and until the issuance of the Trust Securities, and at any time during which no Trust
Securities are outstanding, the Sponsor shall be the sole beneficial owner of the Issuer Trust.

     Section 5.2.   The Trust Securities Certificates.

     (a)    The Preferred Securities Certificates shall be issued in minimum denominations of
$1,000 Liquidation Amount and integral multiples of $1,000 in excess
thereof, and the Common Securities Certificates shall be issued in minimum denominations of $1,000 Liquidation Amount
and integral multiples thereof. The Trust Securities Certificates shall be executed on behalf of
the Issuer Trust by manual signature of at least one Administrative Trustee. Trust Securities
Certificates bearing the manual signatures of individuals who were, at the time when such
signatures shall have been affixed, authorized to sign on behalf of the Issuer Trust shall be
validly issued and entitled to the benefits of this Amended Declaration, notwithstanding that such
individuals or any of them shall have ceased to be so authorized prior to the delivery of such
Trust Securities Certificates or did not hold such offices at the date of delivery of such Trust
Securities Certificates. A transferee of a Trust Securities Certificate shall become a Holder, and
shall be entitled to the rights and subject to the obligations of a Holder hereunder, upon due
registration of such Trust Securities Certificate in such transferee’s name pursuant to Section
5.5.

     (b)    Upon their original issuance, Preferred Securities Certificates shall be issued in the
form of one or more Book-Entry Preferred Securities Certificates registered in the name of DTC, as
Clearing Agency, or its nominee and deposited with DTC or the Securities Registrar as custodian for
DTC for credit by DTC to the respective accounts of the Owners thereof (or such other accounts as
they may direct).

     (c)    A single Common Securities Certificate representing the Common Securities shall be
issued to the Sponsor in the form of a definitive Common Securities Certificate.

 

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     Section 5.3.   Execution, Delivery and Authentication of Trust Securities Certificates.

     At the Time of Delivery, one or more of the Administrative Trustees shall cause Trust
Securities Certificates, in the aggregate Liquidation Amounts as provided in Sections 2.4 and 2.5
with respect to Preferred Securities and Common Securities, respectively, to be executed manually
or by facsimile on behalf of the Issuer Trust or upon the written order of the Sponsor, executed by
one Authorized Officer thereof, and shall cause the Preferred Securities Certificates to be
delivered to the Property Trustee and upon such delivery the Property Trustee shall authenticate
such Preferred Securities Certificates, in each case without further corporate action by the
Sponsor, in authorized denominations. After the Time of Delivery, subject to the next two
sentences, the Administrative Trustees may cause additional Preferred Securities to be executed on
behalf of the Issuer Trust and delivered to or upon the written order of the Sponsor, such written
order executed by one authorized officer thereof, without further corporate action by the Sponsor,
in authorized denominations; provided, however, that no such additional Preferred Securities shall
be issued unless the Administrative Trustees shall have receive an Opinion of Counsel experienced
in such matters to the effect that such issuance will not cause the Issuer Trust to be taxable as a
corporation for U.S. federal income tax purposes or affect the Issuer Trust’s exemption from status
as an “investment company” under the Investment Company Act or affect the treatment of the
Debentures as indebtedness of the Depositor for United States federal income tax purposes or result
in recognition of any gain or loss to existing holders of Preferred Securities. If the Issuer
Trust issues any additional Trust Securities, it shall concurrently purchase a Like Amount of
Debentures. At no time will the aggregate Liquidation Amount of all Outstanding Preferred
Securities (including additional Preferred Securities) exceed $•.

     Each Preferred Securities Certificate shall be dated the date of its authentication.

     No Preferred Securities Certificate shall be entitled to any benefit under this Amended
Declaration or be valid or obligatory for any purpose, unless there appears on such Preferred
Securities Certificate a certificate of authentication substantially in the form provided for in
the form attached as Exhibit C executed by the Property Trustee by the manual signature of one of
its Authorized Officers, and such certificate upon any Preferred Securities Certificate shall be
conclusive evidence, and the only evidence, that such Preferred Securities Certificate has been
duly authenticated and delivered hereunder.

     Section 5.4.   Book-Entry Preferred Securities.

     (a)    Each Book-Entry Preferred Securities Certificate issued under this Amended Declaration
shall be registered in the name of the Clearing Agency or a nominee thereof and delivered to such
Clearing Agency or a nominee thereof or custodian therefore, and each such Book-Entry Preferred
Securities Certificate shall constitute a single Preferred Securities Certificate for all purposes
of this Amended Declaration.

     (b)    Notwithstanding any other provision in this Amended Declaration, no Book-Entry
Preferred Securities Certificate may be exchanged in whole or in part for Book-Entry Preferred
Securities Certificates registered, and no transfer of a Book-Entry Preferred Securities
Certificate in whole or in part may be registered, in the name of any Person other than the
Clearing Agency

 

23

for such Book-Entry Preferred Securities Certificate or a nominee thereof unless (A) such
Clearing Agency (i) has notified the Issuer Trust that it is unwilling or unable to continue as
Clearing Agency for such Book-Entry Preferred Securities Certificate and no successor Clearing
Agency has been appointed within 90 days of this notice or (ii) has ceased to be a clearing agency
registered under the Exchange Act at a time when the Clearing Agency is required to be so
registered to act as clearing agent and no successor Clearing Agency has been appointed within 90
days after the Issuer Trust has learned that the Clearing Agency has ceased to be so registered,
(B) there shall have occurred and be continuing a Debenture Event of Default, (C) the Sponsor in
its sole discretion determines that such Book-Entry Preferred Securities Certificate will be so
exchangeable or transferable, or (D) Holders of at least a Majority in Liquidation Amount of the
Preferred Securities advise the Property Trustee in writing that the continuation of a book-entry
system through the Clearing Agency is no longer in the best interest of the Owners of Preferred
Securities Certificates. Upon the occurrence of any event specified in clause (A), (B), (C) or (D)
above, the Property Trustee shall notify the Clearing Agency and instruct the Clearing Agency to
notify all Owners of Book-Entry Preferred Securities and the Administrative Trustees of the
occurrence of such event and of the availability of the Definitive Preferred Securities
Certificates to Owners of such class or classes, as applicable, requesting the same.

     (c)    If any Book-Entry Preferred Securities Certificate is to be exchanged for other
Preferred Securities Certificates or cancelled in part, or if any other Preferred Securities
Certificate is to be exchanged in whole or in part for Book-Entry Preferred Securities represented
by a Book-Entry Preferred Securities Certificate, then either (i) such Book-Entry Preferred
Securities Certificate shall be so surrendered for exchange or cancellation as provided in this
Article V or (ii) the aggregate Liquidation Amount represented by such Book-Entry Preferred
Securities Certificate shall be reduced, subject to Section 5.2, or increased by an amount equal to
the Liquidation Amount represented by that portion of the Book-Entry Preferred Securities
Certificate to be so exchanged or cancelled, or equal to the Liquidation Amount represented by such
other Preferred Securities Certificates to be so exchanged for Book-Entry Preferred Securities
represented thereby, as the case may be, by means of an appropriate adjustment made on the records
of the Securities Registrar, whereupon the Property Trustee, in accordance with the Applicable
Procedures, shall instruct the Clearing Agency or its authorized representative to make a
corresponding adjustment to its records. Upon surrender to the Administrative Trustees or the
Securities Registrar of the Book-Entry Preferred Securities Certificate or Certificates by the
Clearing Agency, accompanied by registration instructions, the Administrative Trustees, or any one
of them, shall execute the Definitive Preferred Securities Certificates in accordance with the
instructions of the Clearing Agency. None of the Securities Registrar or the Issuer Trustees shall
be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be
protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities
Certificates, the Issuer Trustees shall recognize the Holders of the Definitive Preferred
Securities Certificates as Holders. The Definitive Preferred Securities Certificates shall be
printed, lithographed or engraved or may be produced in any other manner as is reasonably
acceptable to the Administrative Trustees, as evidenced by the execution thereof by the
Administrative Trustees or any one of them.

     (d)    Every Preferred Securities Certificate executed and delivered upon registration of
transfer of, or in exchange for or in lieu of, a Book-Entry Preferred Securities Certificate or any
portion thereof, whether pursuant to this Article V or Article IV or otherwise, shall be executed

 

24

and delivered in the form of, and shall be, a Book-Entry Preferred Securities Certificate,
unless such Preferred Securities Certificate is registered in the name of a Person other than the
Clearing Agency for such Book-Entry Preferred Securities Certificate or a nominee thereof.

     (e)    The Clearing Agency or its nominee, as registered owner of a Book-Entry Preferred
Securities Certificate, shall be the Holder of such Book-Entry Preferred Securities Certificate for
all purposes under this Agreement and the Book-Entry Preferred Securities Certificate, and Owners
with respect to a Book-Entry Preferred Securities Certificate shall hold such interests pursuant to
the Applicable Procedures. The Securities Registrar and the Issuer Trustees shall be entitled to
deal with the Clearing Agency for all purposes of this Amended Declaration relating to the
Book-Entry Preferred Securities Certificates (including the payment of the Liquidation Amount of
and Distributions on the Book-Entry Preferred Securities represented thereby and the giving of
instructions or directions by Owners of Book-Entry Preferred Securities represented thereby) as the
sole Holder of the Book-Entry Preferred Securities represented thereby and shall have no
obligations to the Owners thereof. None of the Issuer Trustees nor the Securities Registrar shall
have any liability in respect of any transfers effected by the Clearing Agency.

     The rights of the Owners of the Book-Entry Preferred Securities shall be exercised only
through the Clearing Agency and shall be limited to those established by law, the Applicable
Procedures and agreements between such Owners and the Clearing Agency and/or the Clearing Agency
Participants. Pursuant to the Certificate Depository Agreement, unless and until Definitive
Preferred Securities Certificates are issued pursuant to Section 5.4(b), the initial Clearing
Agency will make book-entry transfers among the Clearing Agency Participants and receive and
transmit payments on the Preferred Securities to such Clearing Agency Participants, and none of the
Sponsor or the Issuer Trustees shall have any responsibility or obligation with respect thereto.

     Section 5.5.   Registration of Transfer and Exchange of Preferred Securities Certificates.

     The Property Trustee shall keep or cause to be kept, at the office or agency maintained
pursuant to Section 5.9, a register or registers for the purpose of registering Trust Securities
Certificates and transfers and exchanges of Trust Securities Certificates (the “Securities
Register”) in which the registrar and transfer agent with respect to the Trust Securities (the
"Securities Registrar”), subject to such reasonable regulations as it may prescribe, shall provide
for the registration of Preferred Securities Certificates and Common Securities Certificates
(subject to Section 5.11 in the case of the Common Securities Certificates) and registration of
transfers and exchanges of Preferred Securities Certificates as herein provided. The Person acting
as the Property Trustee shall at all times also be the Securities Registrar.

     Upon surrender for registration of transfer of any Preferred Securities Certificate at the
office or agency maintained pursuant to Section 5.9, the Administrative Trustees or any one of them
shall execute and deliver to the Property Trustee, and the Property Trustee shall authenticate and
deliver, in the name of the designated transferee or transferees, one or more new Preferred
Securities Certificates in authorized denominations of a like aggregate Liquidation Amount dated
the date of execution by such Administrative Trustee or Trustees.

 

25

     The Securities Registrar shall not be required, (i) to issue, register the transfer of or
exchange any Preferred Security during a period beginning at the opening of business 15 days before
the day of selection for redemption of such Preferred Securities pursuant to Article IV and ending
at the close of business on the day of mailing of the notice of redemption, or (ii) to register the
transfer of or exchange any Preferred Security so selected for redemption in whole or in part,
except, in the case of any such Preferred Security to be redeemed in part, any portion thereof not
to be redeemed.

     Every Preferred Securities Certificate presented or surrendered for registration of transfer
or exchange shall be accompanied by a written instrument of transfer in form satisfactory to an
Administrative Trustee and the Securities Registrar duly executed by the Holder or its attorney
duly authorized in writing. Each Preferred Securities Certificate surrendered for registration of
transfer or exchange shall be cancelled and subsequently disposed of by the Property Trustee in
accordance with its customary practice.

     No service charge shall be made for any registration of transfer or exchange of Preferred
Securities Certificates, but the Securities Registrar may require payment of a sum sufficient to
cover any tax or governmental charge that may be imposed in connection with any transfer or
exchange of Preferred Securities Certificates.

     A Preferred Securities Certificate that is not a Book-Entry Preferred Securities Certificate
may be transferred, in whole or in part, to a Person who takes delivery in the form of another
Preferred Securities Certificate that is not a Book-Entry Preferred Securities Certificate as
provided in this Section 5.5.

     Section 5.6.   Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates.

     If (a) any mutilated Trust Securities Certificate shall be surrendered to the Securities
Registrar, or if the Securities Registrar shall receive evidence to its satisfaction of the
destruction, loss or theft of any Trust Securities Certificate, and (b) there shall be delivered to
the Securities Registrar and the Administrative Trustees such security or indemnity as may be
required by them to save each of them harmless, then in the absence of notice that such Trust
Securities Certificate shall have been acquired by a protected purchaser, the Administrative
Trustees, or any one of them, on behalf of the Issuer Trust shall execute and make available for
delivery, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Trust
Securities Certificate, a new Trust Securities Certificate of like class, tenor and denomination.
In connection with the issuance of any new Trust Securities Certificate under this Section 5.6, the
Administrative Trustees or the Securities Registrar may require the payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in connection therewith. Any
duplicate Trust Securities Certificate issued pursuant to this Section shall constitute conclusive
evidence of an undivided beneficial interest in the assets of the Issuer Trust corresponding to
that evidenced by the lost, stolen or destroyed Trust Securities Certificate, as if originally
issued, whether or not the lost, stolen or destroyed Trust Securities Certificate shall be found at
any time.

 

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     Section 5.7.   Persons Deemed Holders.

     The Issuer Trustees and the Securities Registrar shall each treat the Person in whose name any
Trust Securities Certificate shall be registered in the Securities Register as the owner of such
Trust Securities Certificate for the purpose of receiving Distributions and for all other purposes
whatsoever, and none of the Issuer Trustees and the Securities Registrar shall be bound by any
notice to the contrary.

     Section 5.8.   Access to List of Holders’ Names and Addresses.

     Each of the Sponsor and any one of the Administrative Trustees will furnish or cause to be
furnished to the Property Trustee:

     (i) quarterly, not more than 15 days after each regular record date in each year, a list, in
such form as the Property Trustee may reasonably require, of the names and addresses of the Holders
of Trust Securities as of such regular record date, and

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

excluding from any such list names and addresses received by the Property Trustee at any time that
it is acting as Securities Registrar.

     The Property Trustee shall preserve, in as current a form as is reasonably practicable, the
names and addresses of Holders contained in the most recent list furnished to the Property Trustee
as provided in this Section 5.8 and the names and addresses of Holders received by the Property
Trustee at any time that is acting as Securities Registrar. The Property Trustee may destroy any
list furnished to it as provided in this Section 5.8 upon receipt of a new list so furnished.

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

     Each Holder and each Owner shall be deemed to have agreed not to hold the Sponsor, the
Property Trustee, the Delaware Trustee, the Administrative Trustees or the Securities Registrar
accountable by reason of the disclosure of its name and address, regardless of the source from
which such information was derived.

     Section 5.9.   Maintenance of Office or Agency.

     The Property Trustee shall designate, with the consent of the Administrative Trustees, which
consent shall not be unreasonably withheld, an office or offices or agency or agencies where
Preferred Securities Certificates may be surrendered for registration of transfer or exchange and
where notices and demands to or upon the Issuer Trustees in respect of the Trust Securities
Certificates may be served. The Administrative Trustees initially designate the

 

27

Property Trustee’s Corporate Trust Office, Attention: Corporate Finance Group, as its office
and agency for such purposes. The Property Trustee shall give prompt written notice to the Sponsor,
the Administrative Trustees and to the Holders of any change in the location of the Securities
Register or any such office or agency.

     Section 5.10.   Appointment of Paying Agent.

     The Paying Agent shall make Distributions to Holders from the Payment Account and shall report
the amounts of such Distributions to the Property Trustee and the Administrative Trustees. Any
Paying Agent shall have the revocable power to withdraw funds from the Payment Account solely for
the purpose of making the Distributions referred to above. The Administrative Trustees may revoke
such power and remove the Paying Agent in their sole discretion. The Paying Agent shall initially
be The Bank of New York. Any Person acting as Paying Agent shall be permitted to resign as Paying
Agent upon 30 days’ written notice to the Administrative Trustees and the Property Trustee. If The
Bank of New York shall no longer be the Paying Agent or a successor Paying Agent shall resign or
its authority to act be revoked, the Administrative Trustees shall appoint a successor (which shall
be a bank or trust company) to act as Paying Agent. Such successor Paying Agent or any additional
Paying Agent appointed by the Administrative Trustees shall execute and deliver to the Issuer
Trustees an instrument in which such successor Paying Agent or additional Paying Agent shall agree
with the Issuer Trustees that as Paying Agent, such successor Paying Agent or additional Paying
Agent will hold all sums, if any, held by it for payment to the Holders in trust for the benefit of
the Holders entitled thereto until such sums shall be paid to such Holders. The Paying Agent shall
return all unclaimed funds to the Property Trustee and upon removal of a Paying Agent such Paying
Agent shall also return all funds in its possession to the Property Trustee. The provisions of
Sections 8.1 (other than (c), (d), (e)(i), (e)(iii) and (e)(vii) thereof), 8.3 (except (g) and (j)
thereof) and 8.6 herein shall apply to The Bank of New York also in its role as Paying Agent, for
so long as The Bank of New York shall act as Paying Agent and, to the extent applicable, to any
other paying agent appointed hereunder. Any reference in this Amended Declaration to the Paying
Agent shall include any co-paying agent unless the context requires otherwise.

     Section 5.11.   Ownership of Common Securities by Sponsor.

     At the Time of Delivery, the Sponsor shall acquire, and thereafter shall retain, beneficial
and record ownership of the Common Securities. The Sponsor may not transfer the Common Securities
except (i) in connection with a consolidation or merger of the Sponsor into another Person, or any
conveyance, transfer or lease by the Sponsor of its properties and assets substantially as an
entirety to any Person, pursuant to Article VIII of the Indenture, or (ii) to an Affiliate of the
Sponsor in compliance with applicable law (including the Securities Act and applicable state
securities and blue sky laws). To the fullest extent permitted by law, any attempted transfer of
the Common Securities other than as set forth in the next proceeding sentence shall be void. The
Administrative Trustees shall cause each Common Securities Certificate issued to the Sponsor to
contain a legend stating substantially “THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT IN COMPLIANCE
WITH APPLICABLE LAW AND SECTION 5.11 OF THE DECLARATION OF TRUST.”

 

28

Section 5.12.   Notices to Clearing Agency.

     To the extent that a notice or other communication to the Holders is required under this
Amended Declaration, for so long as Preferred Securities are represented by a Book-Entry Preferred
Securities Certificate, the Administrative Trustees shall give all such notices and communications
specified herein to be given to the Clearing Agency, and shall have no obligations to the Owners.

     Section 5.13.   Rights of Holders; Waivers of Past Defaults.

     (a)    The legal title to the Trust Property is vested exclusively in the Property Trustee (in
its capacity as such) in accordance with Section 2.9, and the Holders shall not have any right or
title therein other than the undivided beneficial interest in the assets of the Issuer Trust
conferred by their Trust Securities and they shall have no right to call for any partition or
division of property, profits or rights of the Issuer Trust except as described below. The Trust
Securities shall be personal property giving only the rights specifically set forth therein and in
this Amended Declaration. The Trust Securities shall have no preemptive or similar rights and when
issued and delivered to Holders against payment of the purchase price therefor will be fully paid
and nonassessable by the Issuer Trust. The Holders of the Trust Securities, in their capacities as
such, shall be entitled to the same limitation of personal liability extended to stockholders of
private corporations for profit organized under the General Corporation Law of the State of
Delaware.

     (b)    For so long as any Preferred Securities remain Outstanding, if, upon a Debenture Event
of Default, the Debenture Trustee fails or the holders of not less than 25% in principal amount of
the outstanding Debentures fail to declare the principal of all of the Debentures to be immediately
due and payable, the Property Trustee or the Holders of at least 25% in Liquidation Amount of the
Preferred Securities then Outstanding shall have the right to make such declaration by a notice in
writing to the Sponsor, the Debenture Trustee and the Property Trustee, in the case of notice by
the Holders of the Trust Securities, or to the Sponsor, the Debenture Trustee and the Holders of
the Trust Securities, in the case of notice by the Property Trustee.

     At any time after a declaration of acceleration with respect to the Debentures has been made
and before a judgment or decree for payment of the money due has been obtained by the Debenture
Trustee as provided in the Indenture, the Holders of at least a Majority in Liquidation Amount of
the Preferred Securities, by written notice to the Property Trustee, the Sponsor and the Debenture
Trustee, may rescind and annul such declaration and its consequences if:

     (i) the Sponsor has paid or deposited with the Debenture Trustee a sum sufficient to pay

     (A) all overdue installments of interest (including any Additional Interest) on all of the
Debentures,

     (B) the principal of (and premium, if any, on) any Debentures that have become due otherwise
than by such declaration of acceleration and interest

 

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     (including any Additional Interest) thereon at the rate borne by the Debentures, and

     (C) all sums paid or advanced by the Debenture Trustee under the Indenture and the reasonable
compensation, expenses, disbursements and advances of the Debenture Trustee, its agents and
counsel; and

     (ii) all Events of Default with respect to the Debentures, other than the non-payment of the
principal of the Debentures that has become due solely by such acceleration, have been cured or
waived as provided in Section 5.13 of the Indenture.

     The Holders of at least a Majority in Liquidation Amount of the Preferred Securities may, on
behalf of the Holders of all the Preferred Securities, waive any past default under the Indenture,
except a default in the payment of principal of or any premium or interest (including any
Additional Interest) or a default in respect of a covenant or provision that under the Indenture
cannot be modified or amended without the consent of the holder of each outstanding Debenture. No
such rescission shall affect any subsequent default or impair any right consequent thereon.

     Upon receipt by the Property Trustee of written notice declaring such an acceleration, or
rescission and annulment thereof, by Holders of any part of the Preferred Securities a record date
shall be established for determining Holders of Outstanding Preferred Securities entitled to join
in such notice, which record date shall be at the close of business on the day the Property Trustee
receives such notice. The Holders on such record date, or their duly designated proxies, and only
such Persons, shall be entitled to join in such notice, whether or not such Holders remain Holders
after such record date; provided that, unless such declaration of acceleration, or rescission and
annulment, as the case may be, shall have become effective by virtue of the requisite percentage
having joined in such notice prior to the day that is 90 days after such record date, such notice
of declaration of acceleration, or rescission and annulment, as the case may be, shall
automatically and without further action by any Holder be canceled and of no further effect.
Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after
expiration of such 90-day period, a new written notice of declaration of acceleration, or
rescission and annulment thereof, as the case may be, that is identical to a written notice that
has been canceled pursuant to the proviso to the preceding sentence, in which event a new record
date shall be established pursuant to the provisions of this Section 5.13(b).

     (c)    For so long as any Preferred Securities remain Outstanding, to the fullest extent
permitted by law and subject to the terms of this Amended Declaration and the Indenture, upon (i)
the breach by the Sponsor of its obligations under Section 2.2(a)(v) of the Supplemental Indenture
to sell Qualifying Capital Securities (as defined therein) or Section 2.7(a) of the Supplemental
Indenture to issue Qualifying APM Securities (as defined therein), (ii) a Debenture Event of
Default specified in Section 2.9(a) of the Supplemental Indenture or (iii) the failure of the
Company to make any payments on the Debentures when due, any Holder of Preferred Securities shall
have the right to institute a proceeding directly against the Sponsor, pursuant to Section 2.12 of
the Supplemental Indenture, for enforcement of payment to such Holder of any amounts payable in
respect of Debentures having an aggregate principal amount equal to the aggregate Liquidation
Amount of the Preferred Securities of such Holder (a “Direct

 

30

Action”). Except as set forth in Section 5.13(b) and this Section 5.13(c), the Holders of
Preferred Securities shall have no right to exercise directly any right or remedy available to the
holders of, or in respect of, the Debentures.

     (d)    Except as otherwise Sections 5.13(a), (b) and (c), the Holders of at least a Majority
in Liquidation Amount of the Preferred Securities may, on behalf of the Holders of all the
Preferred Securities, waive any past default or Event of Default and its consequences. Upon such
waiver, any such default or Event of Default shall cease to exist, and any default or Event of
Default arising therefrom shall be deemed to have been cured, for every purpose of this Amended
Declaration, but no such waiver shall extend to any subsequent or other default or Event of Default
or impair any right consequent thereon.

ARTICLE VI

ACTS OF HOLDERS; MEETINGS; VOTING

     Section 6.1.   Limitations on Voting Rights.

     (a)    Except as expressly provided in this Amended Declaration and in the Indenture and as
otherwise required by law, no Holder of Preferred Securities shall have any right to vote or in any
manner otherwise control the administration, operation and management of the Issuer Trust or the
obligations of the parties hereto, nor shall anything herein set forth, or contained in the terms
of the Trust Securities Certificates, be construed so as to constitute the Holders from time to
time as partners or members of an association.

     (b)    So long as any Debentures are held by the Property Trustee on behalf of the Issuer
Trust, the Issuer Trustees shall not (i) direct the time, method and place of conducting any
proceeding for any remedy available to the Debenture Trustee, or execute any trust or power
conferred on the Property Trustee with respect to the Debentures, (ii) waive any past default that
may be waived under Section 5.13 of the Indenture, (iii) exercise any right to rescind or annul a
declaration that the principal of all the Debentures shall be due and payable, or (iv) consent to
any amendment, modification or termination of the Indenture or the Debentures, where such consent
shall be required, without, in each case, obtaining the prior approval of the Holders of at least a
Majority in Liquidation Amount of the Preferred Securities, provided, however, that where a consent
under the Indenture would require the consent of each Holder of Debentures affected thereby, no
such consent shall be given by the Property Trustee without the prior written consent of each
Holder of Preferred Securities. The Issuer Trustees shall not revoke any action previously
authorized or approved by a vote of the Holders of the Preferred Securities, except by a subsequent
vote of the Holders of the Preferred Securities. The Property Trustee shall notify all Holders of
the Preferred Securities of any notice of default received with respect to the Debentures. In
addition to obtaining the foregoing approvals of the Holders of the Preferred Securities, prior to
taking any of the foregoing actions, the Issuer Trustees shall, at the expense of the Sponsor,
obtain an Opinion of Counsel experienced in such matters to the effect that such action shall not
cause the Issuer Trust to be classified as other than a grantor trust for U.S. federal income tax
purposes.

 

31

     (c)    If any proposed amendment to the Amended Declaration provides for, or the Issuer
Trustees otherwise propose to effect, (i) any action that would adversely affect in any material
respect the powers, preferences or special rights of the Preferred Securities, whether by way of
amendment to this Amended Declaration or otherwise, or (ii) the dissolution of the Issuer Trust,
other than pursuant to the terms of this Amended Declaration, then the Holders of Outstanding
Preferred Securities as a class will be entitled to vote on such amendment or proposal and such
amendment or proposal shall not be effective except with the approval of the Holders of at least a
Majority in Liquidation Amount of the Preferred Securities. Notwithstanding any other provision of
this Amended Declaration, no amendment to this Amended Declaration may be made if, as a result of
such amendment, it would cause the Issuer Trust to be classified as other than a grantor trust for
U.S. federal income tax purposes.

     Section 6.2.   Notice of Meetings.

     Notice of all meetings of the Holders of the Preferred Securities, stating the time, place and
purpose of the meeting, shall be given by the Administrative Trustees or, at the written request
and expense of the Administrative Trustees, by the Property Trustee pursuant to Section 10.8 to
each Holder of Preferred Securities, at such Holder’s registered address, at least 15 days and not
more than 90 days before the meeting. At any such meeting, any business properly before the meeting
may be so considered whether or not stated in the notice of the meeting. Any adjourned meeting may
be held as adjourned without further notice.

     Section 6.3.   Meetings of Holders of the Preferred Securities.

     No annual meeting of Holders is required to be held. The Administrative Trustees, however,
shall call a meeting of the Holders of the Preferred Securities to vote on any matter upon the
written request of the Holders of at least 25% in aggregate Liquidation Amount of the Outstanding
Preferred Securities and the Administrative Trustees or the Property Trustee may, at any time in
their discretion, call a meeting of the Holders of the Preferred Securities to vote on any matters
as to which such Holders are entitled to vote.

     The Holders of at least a Majority in Liquidation Amount of the Preferred Securities, present
in person or by proxy, shall constitute a quorum at any meeting of the Holders of the Preferred
Securities.

     If a quorum is present at a meeting, an affirmative vote by the Holders present, in person or
by proxy, holding Preferred Securities representing at least a Majority in Liquidation Amount of
the Preferred Securities held by the Holders present, either in person or by proxy, at such meeting
shall constitute the action of the Holders of the Preferred Securities, unless this Amended
Declaration requires a greater number of affirmative votes.

     Section 6.4.   Voting Rights.

     Holders shall be entitled to one vote for each $1,000 of Liquidation Amount represented by
their Outstanding Trust Securities in respect of any matter as to which such Holders are entitled
to vote.

 

32

     Section 6.5.   Proxies, etc.

     At any meeting of Holders, any Holder entitled to vote thereat may vote by proxy, provided
that no proxy shall be voted at any meeting unless it shall have been placed on file with the
Administrative Trustees, or with such other officer or agent of the Issuer Trust as the
Administrative Trustees may direct, for verification prior to the time at which such vote shall be
taken. Pursuant to a resolution of the Property Trustee, proxies may be solicited in the name of
the Property Trustee or one or more officers of the Property Trustee. Only Holders of record shall
be entitled to vote. When Trust Securities are held jointly by several persons, any one of them may
vote at any meeting in person or by proxy in respect of such Trust Securities, but if more than one
of them shall be present at such meeting in person or by proxy, and such joint owners or their
proxies so present disagree as to any vote to be cast, such vote shall not be received in respect
of such Trust Securities. A proxy purporting to be executed by or on behalf of a Holder shall be
deemed valid unless challenged at or prior to its exercise, and the burden of proving invalidity
shall rest on the challenger. No proxy shall be valid more than three years after its date of
execution.

     Section 6.6.   Holder Action by Written Consent.

     Any action that may be taken by Holders at a meeting may be taken without a meeting and
without prior notice if Holders holding at least a Majority in Liquidation Amount of all Preferred
Securities entitled to vote in respect of such action (or such larger proportion thereof as shall
be required by any other provision of this Amended Declaration) shall consent to the action in
writing.

     Section 6.7.   Record Date for Voting and Other Purposes.

     For the purposes of determining the Holders who are entitled to notice of and to vote at any
meeting or by written consent, or to participate in any distribution on the Trust Securities in
respect of which a record date is not otherwise provided for in this Amended Declaration, or for
the purpose of any other action, the Administrative Trustees or Property Trustee may from time to
time fix a date, not more than 90 days prior to the date of any meeting of Holders or the payment
of a distribution or other action, as the case may be, as a record date for the determination of
the identity of the Holders of record for such purposes.

     Section 6.8.   Acts of Holders.

     Any request, demand, authorization, direction, notice, consent, waiver or other action
provided or permitted by this Amended Declaration to be given, made or taken by Holders may be
embodied in and evidenced by one or more instruments of substantially similar tenor signed by such
Holders in person or by an agent duly appointed in writing; and, except as otherwise expressly
provided herein, such action shall become effective when such instrument or instruments are
delivered to an Administrative Trustee. Such instrument or instruments (and the action embodied
therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing
such instrument or instruments. Proof of execution of any such instrument or of a writing
appointing any such agent shall be sufficient for any purpose of this Amended

 

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Declaration and (subject to Section 8.1) conclusive in favor of the Issuer Trustees, if made
in the manner provided in this Section.

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

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

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

     Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder with
regard to any particular Trust Security may do so with regard to all or any part of the Liquidation
Amount of such Trust Security or by one or more duly appointed agents each of which may do so
pursuant to such appointment with regard to all or any part of such Liquidation Amount.

     If any dispute shall arise among the Holders or the Issuer Trustees with respect to the
authenticity, validity or binding nature of any request, demand, authorization, direction, consent,
waiver or other Act of such Holder or Issuer Trustee under this Article VI, then the determination
of such matter by the Property Trustee shall be conclusive with respect to such matter.

     Section 6.9.   Inspection of Records.

     Upon reasonable notice to the Administrative Trustees and the Property Trustee, the records of
the Issuer Trust shall be open to inspection by Holders during normal business hours for any
purpose reasonably related to such Holder’s interest as a Holder.

ARTICLE VII

REPRESENTATIONS AND WARRANTIES

     Section 7.1.   Representations and Warranties of the Property Trustee and the Delaware
Trustee.

     The Property Trustee and the Delaware Trustee, each severally on behalf of and as to itself,
hereby represents and warrants for the benefit of the Sponsor and the Holders that:

 

34

     (a)    the Property Trustee is a New York banking corporation, duly organized, validly
existing under the laws of the State of New York, and is a U.S. Person;

     (b)    the Property Trustee has full corporate power, authority and legal right to execute,
deliver and perform its obligations under this Amended Declaration and has taken all necessary
action to authorize the execution, delivery and performance by it of this Amended Declaration;

     (c)    the Delaware Trustee is a banking corporation duly organized and validly existing under
the laws of the State of Delaware, and is a U.S. Person;

     (d)    the Delaware Trustee has full corporate power, authority and legal right to execute,
deliver and perform its obligations under this Amended Declaration and has taken all necessary
action to authorize the execution, delivery and performance by it of this Amended Declaration;

     (e)    this Amended Declaration has been duly authorized, executed and delivered by the
Property Trustee and the Delaware Trustee and constitutes the valid and legally binding agreement
of each of the Property Trustee and the Delaware Trustee enforceable against each of them in
accordance with its terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or affecting creditors’ rights and
to general equity principles;

     (f)    to the best of their knowledge the execution, delivery and performance of this Amended
Declaration have been duly authorized by all necessary corporate or other action on the part of the
Property Trustee and the Delaware Trustee and do not require any approval of stockholders of the
Property Trustee or the Delaware Trustee and such execution, delivery and performance will not (i)
violate the Articles of Association or By-laws of the Property Trustee or the Delaware Trustee,
(ii) violate any provision of, or constitute, with or without notice or lapse of time, a default
under, or result in the creation or imposition of, any Lien on any properties included in the Trust
Property pursuant to the provisions of, any indenture, mortgage, credit agreement, license or other
agreement or instrument to which the Property Trustee or the Delaware Trustee is a party or by
which it is bound, or (iii) violate any law, governmental rule or regulation of the United States
of America governing the banking, trust or general powers of the Property Trustee or the Delaware
Trustee (as appropriate in context) or any order, judgment or decree applicable to the Property
Trustee or the Delaware Trustee;

     (g)    to the best of their knowledge neither the authorization, execution or delivery by the
Property Trustee or the Delaware Trustee of this Amended Declaration nor the consummation of any of
the transactions by the Property Trustee or the Delaware Trustee (as appropriate in context)
contemplated herein requires the consent or approval of, the giving of notice to, the registration
with or the taking of any other action with respect to any governmental authority or agency under
any existing law of the United States of America governing the banking, trust or general powers of
the Property Trustee or the Delaware Trustee, as the case may be; and

     (h)    there are no proceedings pending or, to the best of each of the Property Trustee’s and
the Delaware Trustee’s knowledge, threatened against or affecting the Property Trustee or the
Delaware Trustee in any court or before any governmental authority, agency or arbitration board or
tribunal that, individually or in the aggregate, would materially and adversely affect the

 

35

Issuer Trust or would question the right, power and authority of the Property Trustee or the
Delaware Trustee, as the case may be, to enter into or perform its obligations as one of the Issuer
Trustees under this Amended Declaration.

     Section 7.2.   Representations and Warranties of Sponsor.

     The Sponsor hereby represents and warrants for the benefit of the Holders that:

     (a)    the Trust Securities Certificates issued at the Time of Delivery on behalf of the
Issuer Trust have been duly authorized and will have been duly and validly executed, issued and
delivered by the Issuer Trustees pursuant to the terms and provisions of, and in accordance with
the requirements of, this Amended Declaration and the Holders will be, as of each such date,
entitled to the benefits of this Amended Declaration; and

     (b)    there are no taxes, fees or other governmental charges payable by the Issuer Trust (or
the Issuer Trustees on behalf of the Issuer Trust) under the laws of the State of Delaware or any
political subdivision thereof in connection with the execution, delivery and performance by the
Property Trustee or the Delaware Trustee, as the case may be, of this Amended Declaration.

ARTICLE VIII

THE ISSUER TRUSTEES

     Section 8.1.   Certain Duties and Responsibilities.

     (a)    The duties and responsibilities of the Issuer Trustees shall be as provided by this
Amended Declaration and, in the case of the Property Trustee, by the Trust Indenture Act.
Notwithstanding the foregoing, but subject to Section 8.1(c), no provision of this Amended
Declaration shall require any of the Issuer Trustees to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder, or in the exercise
of any of its rights or powers, if it or they shall have reasonable grounds for believing that
repayment of such funds or adequate indemnity against such risk or liability is not reasonably
assured to it. Whether or not therein expressly so provided, every provision of this Amended
Declaration relating to the conduct or affecting the liability of or affording protection to the
Issuer Trustees shall be subject to the provisions of this Section 8.1. Nothing in this Amended
Declaration shall be construed to release an Administrative Trustee from liability for his or her
own negligent action, his or her own negligent failure to act, or his or her own willful
misconduct. To the extent that, at law or in equity, an Issuer Trustee has duties and liabilities
relating to the Issuer Trust or to the Holders, such Issuer Trustee shall not be liable to the
Issuer Trust or to any Holder for such Issuer Trustee’s good faith reliance on the provisions of
this Amended Declaration. The provisions of this Amended Declaration, to the extent that they
restrict the duties and liabilities of the Issuer Trustees otherwise existing at law or in equity,
are agreed by the Sponsor and the Holders to replace such other duties and liabilities of the
Issuer Trustees.

     (b)    All payments made by the Property Trustee or a Paying Agent in respect of the Trust
Securities shall be made only from the revenue and proceeds from the Trust Property and only to the
extent that there shall be sufficient revenue or proceeds from the Trust Property to

 

36

enable the Property Trustee or a Paying Agent to make payments in accordance with the terms
hereof. Each Holder, by its acceptance of a Trust Security, agrees that it will look solely to the
revenue and proceeds from the Trust Property to the extent legally available for distribution to it
as herein provided and that the Issuer Trustees are not personally liable to it for any amount
distributable in respect of any Trust Security or for any other liability in respect of any Trust
Security. This Section 8.1(b) does not limit the liability of the Issuer Trustees expressly set
forth elsewhere in this Amended Declaration or, in the case of the Property Trustee, in the Trust
Indenture Act.

     (c)    If an Event of Default has occurred and is continuing, the Property Trustee shall
enforce this Amended Declaration and the Transaction Agreements for the benefit of the Holders.

     (d)    The Property Trustee, before the occurrence of any Event of Default and after the
curing of all Events of Default that may have occurred, shall undertake to perform only such duties
as are specifically set forth in this Amended Declaration (including pursuant to Section 10.10),
and no implied covenants shall be read into this Amended Declaration against the Property Trustee.
If an Event of Default has occurred (that has not been cured or waived pursuant to Section 5.13),
the Property Trustee shall exercise such of the rights and powers vested in it by this Amended
Declaration, and use the same degree of care and skill in its exercise thereof, as a prudent person
would exercise or use under the circumstances in the conduct of his or her own affairs.

     (e)    No provision of this Amended Declaration shall be construed to relieve the Property
Trustee or the Delaware Trustee from liability for its own negligent action, its own negligent
failure to act, or its own willful misconduct, except that:

     (i) prior to the occurrence of any Event of Default and after the curing or waiving of all
such Events of Default that may have occurred:

     (A) the duties and obligations of the Property Trustee shall be determined solely by the
express provisions of this Amended Declaration (including pursuant to Section 10.10), and the
Property Trustee shall not be liable except for the performance of such duties and obligations as
are specifically set forth in this Amended Declaration (including pursuant to Section 10.10); and

     (B) in the absence of bad faith on the part of the Property Trustee, the Property 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 Property Trustee and conforming to the
requirements of this Amended Declaration; but in the case of any such certificates or opinions that
by any provision hereof or of the Trust Indenture Act are specifically required to be furnished to
the Property Trustee, the Property Trustee shall be under a duty to examine the same to determine
whether or not they conform on their face to the requirements of this Amended Declaration;

 

37

     (ii) the Property Trustee shall not be liable for any error of judgment made in good faith by
an Authorized Officer of the Property Trustee, unless it shall be proved that the Property Trustee
was negligent in ascertaining the pertinent facts;

     (iii) the Property Trustee shall not be liable with respect to any action taken or omitted to
be taken by it in good faith in accordance with the direction of the Holders of at least a Majority
in Liquidation Amount of the Preferred Securities relating to the time, method and place of
conducting any proceeding for any remedy available to the Property Trustee, or exercising any trust
or power conferred upon the Property Trustee under this Amended Declaration;

     (iv) the Property Trustee’s sole duty with respect to the custody, safe keeping and physical
preservation of the Debentures and the Payment Account shall be to deal with such property in a
similar manner as the Property Trustee deals with similar property for its own account, subject to
the protections and limitations on liability afforded to the Property Trustee under this Amended
Declaration and the Trust Indenture Act;

     (v) the Property Trustee shall not be liable for any interest on any money received by it
except as it may otherwise agree with the Sponsor; and money held by the Property Trustee need not
be segregated from other funds held by it except in relation to the Payment Account maintained by
the Property Trustee pursuant to Section 3.1 and except to the extent otherwise required by law;

     (vi) the Property Trustee shall not be responsible for monitoring the compliance by the
Administrative Trustees, the Sponsor or any other Person with their respective duties under this
Amended Declaration, nor shall the Property Trustee be liable for the default or misconduct of any
other Issuer Trustee, or the Sponsor or any other Person;

     (vii) subject to Section 8.1(c), no provision of this Amended Declaration shall require the
Property Trustee to expend or risk its own funds or otherwise incur personal financial liability in
the performance of any of its duties or in the exercise of any of its rights or powers, if the
Property Trustee shall have reasonable grounds for believing that the repayment of such funds or
liability is not reasonably assured to it under the terms of this Amended Declaration or adequate
indemnity against such risk or liability is not reasonably assured to it;

     (viii) the rights, privileges, protections, immunities and benefits given to the Property
Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be
enforceable by, the Property Trustee in each of its capacities hereunder, and to each agent,
custodian and other Person employed to act hereunder;

     (ix) the Property Trustee may request that the Sponsor deliver an Officers’ Certificate
setting forth the names of individuals and/or titles of officers authorized at such time to take
specified actions pursuant to this Agreement, which Officers’ Certificate may be signed by any
person authorized to sign an Officers’ Certificate,

 

38

including any person specified as so authorized in any such certificate previously delivered
and no superseded; and

     (x) the permissive rights of the Property Trustee enumerated herein shall not be construed as
duties.

     (f)    The Administrative Trustees shall not be responsible for monitoring the compliance by
the other Issuer Trustees or the Sponsor with their respective duties under this Amended
Declaration, nor shall any Administrative Trustee be liable for the default or misconduct of any
other Administrative Trustee, the other Issuer Trustees or the Sponsor.

     Section 8.2.   Certain Notices.

     Within 30 days after the occurrence of any Event of Default actually known to a Responsible
Officer of the Property Trustee, the Property Trustee shall transmit, in the manner and to the
extent provided in Section 10.8, notice of such Event of Default to the Holders, the Administrative
Trustees and the Sponsor, unless such Event of Default shall have been cured or waived.

     Within five Business Days after the receipt of notice of the Sponsor’s exercise of its right
to defer the payment of interest on the Debentures pursuant to the Indenture and Supplemental
Indenture, the Property Trustee shall transmit, in the manner and to the extent provided in Section
10.8, notice of such exercise to the Holders, unless such exercise shall have been revoked.

     Section 8.3.   Certain Rights of Property Trustee.

     Subject to the provisions of Section 8.1:

     (a)    the Property Trustee may rely and shall be protected in acting or refraining from
acting in good faith upon any resolution, Opinion of Counsel, certificate, written representation
of a Holder or transferee, certificate of auditors or any other certificate, statement, instrument,
opinion, report, notice, request, consent, order, appraisal, bond, debenture, note, other evidence
of indebtedness or other paper or document believed by it to be genuine and to have been signed or
presented by the proper party or parties;

     (b)    if no Event of Default has occurred or is continuing, and if (i) in performing its
duties under this Amended Declaration the Property Trustee is required to decide between
alternative courses of action, (ii) in construing any of the provisions of this Amended Declaration
the Property Trustee finds the same ambiguous or inconsistent with any other provisions contained
herein, or (iii) the Property Trustee is unsure of the application of any provision of this Amended
Declaration, then, except as to any matter as to which the Holders of the Preferred Securities are
entitled to vote under the terms of this Amended Declaration, the Property Trustee shall deliver a
notice to the Sponsor requesting the Sponsor’s opinion as to the course of action to be taken, and
the Property Trustee shall be fully protected in taking such action, or refraining from taking such
action, as the Property Trustee shall be instructed in writing to take, or to refrain from taking,
by the Sponsor; provided, however, that if the Property Trustee does not

 

39

receive such instructions of the Sponsor within ten Business Days after it has delivered such
notice, or such reasonably shorter period of time set forth in such notice (which to the extent
practicable shall not be less than two Business Days), it may take or refrain from taking such
action not inconsistent with this Amended Declaration as it shall deem advisable and in the best
interests of the Holders, in which event the Property Trustee shall have no liability except for
its own bad faith, negligence or willful misconduct;

     (c)    any direction or act of the Sponsor contemplated by this Amended Declaration shall be
sufficiently evidenced by an Officers’ Certificate;

     (d)    any direction or act of an Administrative Trustee contemplated by this Amended
Declaration shall be sufficiently evidenced by a certificate executed by such Administrative
Trustee and setting forth such direction or act;

     (e)    the Property Trustee shall have no duty to see to any recording, filing or registration
of any instrument (including any financing or continuation statement or any filing under tax or
securities laws) or any rerecording, refiling or re-registration thereof;

     (f)    the Property Trustee may (at the expense of the Sponsor) consult with counsel of its
own selection (which counsel may be counsel to the Sponsor or any of its Affiliates, and may
include any of its employees) and the advice of such counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in
good faith and in reliance thereon and in accordance with such advice; the Property Trustee shall
have the right at any time to seek instructions concerning the administration of this Amended
Declaration from any court of competent jurisdiction;

     (g)    the Property Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Amended Declaration at the request or direction of any of the Holders
or the Sponsor pursuant to this Amended Declaration, unless such Holders or Sponsor shall have
offered to the Property Trustee reasonable security or indemnity satisfactory to it against the
costs, expenses and liabilities that might be incurred by it in compliance with such request or
direction; provided that nothing contained in this Section 8.3(g) shall be taken to relieve the
Property Trustee, upon the occurrence of an Event of Default of its obligation to exercise the
rights and powers vested in it by this Amended Declaration;

     (h)    the Property Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice,
request, consent, order, approval, bond, debenture, note or other evidence of indebtedness or other
paper or document, unless requested in writing to do so by one or more Holders, but the Property
Trustee may make such further inquiry or investigation into such facts or matters as it may see fit
at the expense of the Sponsor and shall incur no liability of any kind by reason of such inquiry or
investigation;

     (i)    the Property Trustee may execute any of the trusts or powers hereunder or perform any
duties hereunder either directly or by or through its agents or attorneys, provided that the
Property Trustee shall be responsible for its own negligence or willful misconduct with respect to
selection of any agent or attorney appointed by it hereunder and shall not be liable for any act or

 

40

omission of such agent or attorney selected with due care or for monitoring the actions of
such agent or attorney;

     (j)    whenever in the administration of this Amended Declaration the Property Trustee shall
deem it desirable to receive instructions with respect to enforcing any remedy or right or taking
any other action hereunder, the Property Trustee (i) may request instructions from the Holders
(which instructions may only be given by the Holders of the same proportion in Liquidation Amount
of the Trust Securities as would be entitled to direct the Property Trustee under the terms of the
Trust Securities in respect of such remedy, right or action), (ii) may refrain from enforcing such
remedy or right or taking such other action until such instructions are received, and (iii) shall
be protected in acting in accordance with such instructions; and

     (k)    except as otherwise expressly provided by this Amended Declaration, the Property
Trustee shall not be under any obligation to take any action that is discretionary under the
provisions of this Amended Declaration.

     No provision of this Amended Declaration shall be deemed to impose any duty or obligation on
any Issuer Trustee to perform any act or acts or exercise any right, power, duty or obligation
conferred or imposed on it, in any jurisdiction in which it shall be illegal, or in which such
Person shall be unqualified or incompetent in accordance with applicable law, to perform any such
act or acts, or to exercise any such right, power, duty or obligation. No permissive power or
authority available to any Issuer Trustee shall be construed to be a duty.

     Whether or not therein expressly so provided, every provision of this Amended Declaration
relating to the conduct or affecting the liability of or affording protection to the Property
Trustee shall extend to each of the Security Registrar, the Paying Agent and the Delaware Trustee
and shall be subject to the provisions of this Article VIII.

     Section 8.4.   Not Responsible for Recitals or Issuance of Securities.

     The recitals contained herein and in the Trust Securities Certificates shall be taken as the
statements of the Issuer Trust and the Sponsor, and the Issuer Trustees do not assume any
responsibility for their correctness. The Issuer Trustees shall not be accountable for the use or
application by the Sponsor of the proceeds of the Debentures.

     The Property Trustee may conclusively assume that any funds held by it hereunder are legally
available unless an officer of the Property Trustee assigned to its institutional trust services
department shall have actual knowledge that such funds are not legally available.

     Section 8.5.   May Hold Securities.

     Any Issuer Trustee or any other agent of any Issuer Trustee or the Issuer Trust, in its
individual or any other capacity, may become the owner or pledgee of Trust Securities and, subject
to Sections 8.8 and 8.13, and except as provided in the definition of the term “Outstanding” in
Article I, may otherwise deal with the Issuer Trust with the same rights it would have if it were
not an Issuer Trustee or such other agent.

 

41

     Section 8.6.   Compensation; Indemnity; Fees.

     The Sponsor agrees:

     (a)    to pay to the Issuer Trustees from time to time such reasonable compensation for all
services rendered by them hereunder as may be agreed by the Sponsor and the Issuer Trustees from
time to time (which compensation shall not be limited by any provision of law in regard to the
compensation of a trustee of an express trust);

     (b)    except as otherwise expressly provided herein, to reimburse the Issuer Trustees upon
request for all reasonable expenses, disbursements and advances incurred or made by the Issuer
Trustees in accordance with any provision of this Amended Declaration (including the reasonable
compensation and the expenses and disbursements of their agents and counsel), except any such
expense, disbursement or advance as shall be determined to have been caused by their own
negligence, bad faith or willful misconduct; and

     (c)    to the fullest extent permitted by applicable law, to indemnify and hold harmless (i)
each Issuer Trustee, (ii) any Affiliate of any Issuer Trustee, (iii) any officer, director,
shareholder, employee, representative or agent of any Issuer Trustee, and (iv) any employee or
agent of the Issuer Trust (referred to herein as an “Indemnified Person”) from and against any
loss, damage, liability, action, suit, tax, penalty, expense or claim of any kind or nature
whatsoever incurred by such Indemnified Person by reason of the creation, operation or dissolution
of the Issuer Trust or any act or omission performed or omitted by such Indemnified Person in good
faith on behalf of the Issuer Trust and in a manner such Indemnified Person reasonably believed to
be within the scope of authority conferred on such Indemnified Person by this Amended Declaration,
except that no Indemnified Person shall be entitled to be indemnified in respect of any loss,
damage, or claim incurred by such Indemnified Person by reason of negligence, bad faith or willful
misconduct with respect to such acts or omissions.

     The provisions of this Section 8.6 shall survive the termination of this Amended Declaration
and the removal or resignation of any Issuer Trustee.

     No Issuer Trustee may claim any Lien on any Trust Property as a result of any amount due
pursuant to this Section 8.6.

     Notwithstanding any provision of law or equity, the Sponsor and any Issuer Trustee may engage
in or possess an interest in other business ventures of any nature or description, independently or
with others, similar or dissimilar to the business of the Issuer Trust, and the Issuer Trust and
the Holders of Trust Securities shall have no rights by virtue of this Amended Declaration in and to such
independent ventures or the income or profits derived therefrom, and the pursuit of any such
venture, even if competitive with the business of the Issuer Trust, shall not be deemed wrongful or
improper. Notwithstanding any provision of law or equity, neither the Sponsor nor any Issuer
Trustee shall be obligated to present any particular investment or other opportunity to the Issuer
Trust even if such opportunity is of a character that, if presented to the Issuer Trust, could be
taken by the Issuer Trust, and the Sponsor and any Issuer Trustee shall have the right to take for
its own account (individually or as a partner or fiduciary) or to recommend to others any such

 

42

particular investment or other opportunity. Notwithstanding any provision of law or equity,
any Issuer Trustee may engage or be interested in any financial or other transaction with the
Sponsor or any Affiliate of the Sponsor, or may act as depositary for, trustee or agent for, or act
on any committee or body of holders of, securities or other obligations of the Sponsor or its
Affiliates.

     Section 8.7.   Corporate Property Trustee Required; Eligibility of Issuer Trustees.

     (a)    There shall at all times be a Property Trustee hereunder with respect to the Trust
Securities. The Property Trustee shall be a Person that is a national or state chartered bank and
eligible pursuant to the Trust Indenture Act to act as such, has a combined capital and surplus of
at least $50,000,000, and is a U.S. Person. If any such Person publishes reports of condition at
least annually, pursuant to law or to the requirements of its supervising or examining authority,
then for the purposes of this Section 8.7 and to the extent permitted by the Trust Indenture Act,
the combined capital and surplus of such Person shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. If at any time the
Property Trustee with respect to the Trust Securities shall cease to be eligible in accordance with
the provisions of this Section 8.7, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article VIII. At the time of appointment, the Property Trustee must
have securities rated in one of the three highest rating categories by a nationally recognized
statistical rating organization.

     (b)    There shall at all times be one or more Administrative Trustees hereunder with respect
to the Trust Securities. Each Administrative Trustee shall be either a natural person who is at
least 21 years of age or a legal entity that shall act through one or more persons authorized to
bind that entity, and, in either case, shall be a U.S. Person.

     (c)    There shall at all times be a Delaware Trustee. The Delaware Trustee shall either be
(i) a natural person who is at least 21 years of age and a resident of the State of Delaware, or
(ii) a legal entity with its principal place of business in the State of Delaware and that
otherwise meets the requirements of applicable Delaware law and that shall act through one or more
persons authorized to bind such entity, and, in either case, shall be a U.S. Person.

     Section 8.8.   Conflicting Interests.

     (a)    If the Property Trustee has or shall acquire a conflicting interest within the meaning
of the Trust Indenture Act, the Property Trustee shall either eliminate such interest or resign, to
the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act
and this Amended Declaration.

     (b)    The Guarantee Agreement and the Indenture shall be deemed to be specifically described
in this Amended Declaration for the purposes of clause (i) of the first proviso contained in
Section 310(b) of the Trust Indenture Act.

     Section 8.9.   Co-Trustees and Separate Trustee.

     Unless and until a Debenture Event of Default shall have occurred and be continuing, at any
time or times, for the purpose of meeting the legal requirements of the Trust Indenture Act or of
any jurisdiction in which any part of the Trust Property may at the time be located, the Holder

 

43

of Common Securities and the Administrative Trustees shall have the power to appoint one or
more eligible Persons either to act as co-trustee, jointly with the Property Trustee, of all or any
part of such Trust Property, or to the extent required by law to act as separate trustee of any
such property, in either case with such powers as may be provided in the instrument of appointment,
and to vest in such Person or Persons in the capacity aforesaid, any property, title, right or
power deemed necessary or desirable, subject to the other provisions of this Section. Any
co-trustee or separate trustee appointed pursuant to this Section shall either be (i) a natural
person who is at least 21 years of age and a resident of the United States, or (ii) a legal entity
with its principal place of business in the United States that shall act through one or more
persons authorized to bind such entity, and, in either case, shall be a U.S. Person. In case a
Debenture Event of Default shall have occurred and be continuing, the Property Trustee alone shall
have the power to make such appointment and, upon the written request of the Property Trustee, the
Sponsor and the Administrative Trustees shall for such purpose join with the Property Trustee in
the execution, delivery, and performance of all instruments and agreements necessary or proper to
appoint, such co-trustee or separate trustee.

     Should any written instrument from the Sponsor be required by any co-trustee or separate
trustee so appointed for more fully confirming to such co-trustee or separate trustee such
property, title, right, or power, any and all such instruments shall, on request, be executed,
acknowledged and delivered by the Sponsor.

     Every co-trustee or separate trustee shall, to the extent permitted by law, but to such extent
only, be appointed subject to the following terms, namely:

     (a)    The Trust Securities Certificates shall be executed by one or more Administrative
Trustees, and the Trust Securities Certificates shall be delivered by the Property Trustee, and all
rights, powers, duties, and obligations hereunder in respect of the custody of securities, cash and
other personal property held by, or required to be deposited or pledged with, the Property Trustee
specified hereunder shall be exercised solely by the Property Trustee and not by such co-trustee or
separate trustee.

     (b)    The rights, powers, duties, and obligations hereby conferred or imposed upon the
Property Trustee in respect of any property covered by such appointment shall be conferred or
imposed upon and exercised or performed by the Property Trustee or by the Property Trustee and such
co-trustee or separate trustee jointly, as shall be provided in the instrument appointing such
co-trustee or separate trustee, except to the extent that under any law of any jurisdiction in
which any particular act is to be performed, the Property Trustee shall be incompetent or
unqualified to perform such act, in which event such rights, powers, duties and obligations shall
be exercised and performed by such co-trustee or separate trustee.

     (c)    The Property Trustee at any time, by an instrument in writing executed by it, with the
written concurrence of the Sponsor, may accept the resignation of or remove any co-trustee or
separate trustee appointed under this Section, and, in case a Debenture Event of Default has
occurred and is continuing, the Property Trustee shall have power to accept the resignation of, or
remove, any such co-trustee or separate trustee without the concurrence of the Sponsor. Upon the
written request of the Property Trustee, the Sponsor shall join with the Property Trustee in the
execution, delivery and performance of all instruments and agreements necessary or proper to

 

44

effectuate such resignation or removal. A successor to any co-trustee or separate trustee so
resigning or removed may be appointed in the manner provided in this Section.

     (d)    No co-trustee or separate trustee hereunder shall be personally liable by reason of any
act or omission of the Property Trustee or any other trustee hereunder.

     (e)    The Property Trustee shall not be liable by reason of any act of a co-trustee or
separate trustee.

     (f)    Any Act of Holders delivered to the Property Trustee shall be deemed to have been
delivered to each such co-trustee and separate trustee.

     Section 8.10.   Resignation and Removal; Appointment of Successor.

     No resignation or removal of any Issuer Trustee (the “Relevant Trustee”) and no appointment of
a successor Issuer Trustee pursuant to this Article VIII shall become effective until the
acceptance of appointment by the successor Issuer Trustee in accordance with the applicable
requirements of Section 8.11.

     Subject to the immediately preceding paragraph, the Relevant Trustee may resign at any time by
giving written notice thereof to the Holders and by appointing a successor Relevant Trustee. The
Relevant Trustee shall appoint a successor by requesting from at least three Persons meeting the
eligibility requirements its expenses and charges to serve as the Relevant Trustee on a form
provided by the Administrative Trustees, and selecting the Person who agrees to the lowest expenses
and charges. If the instrument of acceptance by the successor Issuer Trustee required by Section
8.11 shall not have been delivered to the Relevant Trustee within 60 days after the giving of such
notice of resignation, the Relevant Trustee may petition, at the expense of the Sponsor, in the
case of the Property Trustee or the Delaware Trustee, any court of competent jurisdiction for the
appointment of a successor Relevant Trustee.

     The Administrative Trustees, or any of them, may be removed at any time by Act of the Holders
of Common Securities delivered to the Relevant Trustee.

     The Property Trustee or the Delaware Trustee, or both of them, may be removed by Act of the
Holders of at least a Majority in Liquidation Amount of the Preferred Securities, delivered to the
Relevant Trustee (in its individual capacity and, in the case of the Property Trustee, on behalf of
the Issuer Trust) (i) for cause (including upon the occurrence of an Event of Default described in
subparagraph (c) of the definition thereof with respect to the Relevant Trustee), or (ii) at any
time if a Debenture Event of Default shall have occurred and be continuing. Unless and until a
Debenture Event of Default shall have occurred and be continuing, the Property Trustee or the
Delaware Trustee, or both of them, may be removed at any time by Act of the Holders of the Common
Securities.

     If a resigning Property Trustee or Delaware Trustee shall fail to appoint a successor, or if
the Property Trustee or the Delaware Trustee shall be removed or become incapable of acting as
Issuer Trustee, or if a vacancy shall occur in the office of the Property Trustee or the Delaware
Trustee for any cause, the Holders of the Common Securities by Act of such Holders delivered to the
Relevant Trustee or, if a Debenture Event of Default shall have occurred and be continuing,

 

45

the Holders of the Preferred Securities, by Act of the Holders of not less than 25% in
aggregate Liquidation Amount of the Preferred Securities then Outstanding delivered to such
Relevant Trustee, may appoint a successor Relevant Trustee or Issuer Trustees, and such successor
Issuer Trustee shall comply with the applicable requirements of Section 8.11. If no successor
Relevant Trustee shall have been so appointed by the Holders of the Common Securities or Preferred
Securities, as the case may be, and accepted appointment in the manner required by Section 8.11,
any Holder, on behalf of such Holder and all others similarly situated, or any other Issuer
Trustee, may, at the expense of the Sponsor, petition any court of competent jurisdiction for the
appointment of a successor Relevant Trustee.

     The Property Trustee shall give notice of each resignation and each removal of an Issuer
Trustee and each appointment of a successor Issuer Trustee to all Holders in the manner provided in
Section 10.8 and shall give notice to the Sponsor and to the Administrative Trustees. Each notice
shall include the name of the successor Relevant Trustee and the address of its Corporate Trust
Office if it is the Property Trustee.

     Notwithstanding the foregoing or any other provision of this Amended Declaration, if any
Delaware Trustee who is a natural person dies or becomes, in the opinion of the Holders of the
Common Securities, incompetent or incapacitated, the vacancy created by such death, incompetence or
incapacity may be filled by the Property Trustee following the procedures regarding expenses and
charges set forth above (with the successor being a Person who satisfies the eligibility
requirement for the Delaware Trustee set forth in Section 8.7).

     A successor Trustee must be a U.S. Person to be appointed as such.

     Section 8.11. Acceptance of Appointment by Successor.

     In case of the appointment hereunder of a successor Relevant Trustee, the retiring Relevant
Trustee (if requested by the Sponsor) and each successor Relevant Trustee with respect to the Trust
Securities shall execute and deliver an amendment hereto wherein each successor Relevant Trustee
shall accept such appointment and which (a) shall contain such provisions as shall be necessary or
desirable to transfer and confirm to, and to vest in, each successor Relevant Trustee all the
rights, powers, trusts and duties of the retiring Relevant Trustee with respect to the Trust
Securities and the Issuer Trust, and (b) shall add to or change any of the provisions of this
Amended Declaration as shall be necessary to provide for or facilitate the administration of the
Issuer Trust by more than one Relevant Trustee, it being understood that nothing herein or in such
amendment shall constitute such Relevant Trustees co-trustees and upon the execution and delivery
of such amendment the resignation or removal of the retiring Relevant Trustee shall become
effective to the extent provided therein and each such successor Relevant Trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Relevant Trustee, other than the filing of an amendment to the Certificate of Trust
to the extent required under the Delaware Statutory Trust Act; but, on request of the Issuer Trust
or any successor Relevant Trustee such retiring Relevant Trustee shall duly assign, transfer and
deliver to such successor Relevant Trustee all Trust Property, all proceeds thereof and money held
by such retiring Relevant Trustee hereunder with respect to the Trust Securities and the Issuer
Trust.

 

46

     Upon request of any such successor Relevant Trustee, the Issuer Trust shall execute any and
all instruments for more fully and certainly vesting in and confirming to such successor Relevant
Trustee all such rights, powers and trusts referred to in the preceding paragraph.

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

     Section 8.12.   Merger, Conversion, Consolidation or Succession to Business.

     Any Person into which the Property Trustee, the Delaware Trustee or any Administrative Trustee
that is not a natural Person may be merged or converted or with which it may be consolidated, or
any Person resulting from any merger, conversion or consolidation to which such Relevant Trustee
shall be a party, or any Person, succeeding to all or substantially all the corporate trust
business of such Relevant Trustee, shall be the successor of such Relevant Trustee hereunder,
provided that such Person shall be otherwise qualified and eligible under this Article VIII,
without the execution or filing of any paper or any further act on the part of any of the parties
hereto, other than the filing of an amendment to the Certificate of Trust to the extent required
under the Delaware Statutory Trust Act.

     Section 8.13.   Preferential Collection of Claims Against Sponsor or Issuer Trust.

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

     Section 8.14.   Property Trustee May File Proofs of Claim.

     In case of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement,
adjustment, composition or other similar judicial proceeding relative to the Issuer Trust or any
other obligor upon the Trust Securities or the property of the Issuer Trust or of such other
obligor or their creditors, the Property Trustee (irrespective of whether any Distributions on the
Trust Securities shall then be due and payable and irrespective of whether the Property Trustee
shall have made any demand on the Issuer Trust for the payment of any past due Distributions) shall
be entitled and empowered, to the fullest extent permitted by law, by intervention in such
proceeding or otherwise:

     (a)    to file and prove a claim for the whole amount of any Distributions owing and unpaid in
respect of the Trust Securities and to file such other papers or documents as may be necessary or
advisable in order to have the claims of the Property Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Property Trustee, its agents
and counsel) and of the Holders allowed in such judicial proceeding, and

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

 

47

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

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

     Section 8.15.   Reports by Property Trustee.

     (a)    Within 60 days after May 15 of each year commencing with May 15, 20___, the Property
Trustee shall transmit to all Holders in accordance with Section 10.8, and to the Sponsor, a brief
report dated as of the immediately preceding May 15 with respect to:

     (i) its eligibility under Section 8.7 or, in lieu thereof, if to the best of its knowledge it
has continued to be eligible under said Section, a written statement to such effect;

     (ii) a statement that the Property Trustee has complied with all of its obligations under this
Amended Declaration during the twelve-month period (or, in the case of the initial report, the
period since the Closing Date) ending with such May 15 or, if the Property Trustee has not complied
in any material respect with such obligations, a description of such noncompliance; and

     (iii) any change in the property and funds in its possession as Property Trustee since the
date of its last report and any action taken by the Property Trustee in the performance of its
duties hereunder which it has not previously reported and which in its opinion materially affects
the Trust Securities.

     (b)    In addition, the Property Trustee shall transmit to Holders such reports concerning the
Property Trustee and its actions under this Amended Declaration as may be required pursuant to the
Trust Indenture Act at the times and in the manner provided pursuant thereto.

     (c)    A copy of each such report shall, at the time of such transmission to Holders, be filed
by or on behalf of the Property Trustee with each national stock exchange or interdealer quotation
system or self-regulatory organization upon which the Trust Preferred Securities are listed or
quoted, if any, and with the Commission, the Sponsor and the relevant stock exchange or
self-regulatory organization.

     Section 8.16.   Reports to the Property Trustee.

     Each of the Sponsor and the Administrative Trustees shall provide to the Property Trustee such
documents, reports and information as required by Section 314 of the Trust

 

48

Indenture Act (if any) and the compliance certificate required by Section 314(a) of the Trust
Indenture Act in the form, in the manner and at the times required by Section 314 of the Trust
Indenture Act. The Sponsor and the Administrative Trustees shall annually file with the Property
Trustee a certificate specifying whether such Person is in compliance with all of the terms and
covenants applicable to such Person hereunder.

     Delivery of such reports, information and documents to the Property Trustee shall be for
information purposes only and the Property Trustee’s receipt of such shall not, in the absence of
gross negligence, bad faith or willful misconduct on its part, constitute constructive notice of
any information contained therein or determinable from information contained therein, including the
Sponsor’s compliance with any of its covenants hereunder (as to which the Property Trustee is
entitled to rely exclusively on Officer’s Certificates).

     Section 8.17.   Evidence of Compliance with Conditions Precedent.

     Each of the Sponsor and the Administrative Trustees shall provide to the Property Trustee such
evidence of compliance with any conditions precedent, if any, provided for in this Amended
Declaration that relate to any of the matters set forth in Section 314(c) of the Trust Indenture
Act. Any certificate or opinion required to be given by an officer pursuant to Section 314(c)(1) of
the Trust Indenture Act shall be given in the form of an Officers’ Certificate.

     Section 8.18.   Number of Issuer Trustees.

     (a)    The number of Issuer Trustees shall be four, unless the Property Trustee and the
Delaware Trustee are the same Person, in which case the number of Issuer Trustees shall be three.

     (b)    If an Issuer Trustee ceases to hold office for any reason, a vacancy shall occur. The
vacancy shall be filled with an Issuer Trustee appointed in accordance with Section 8.10.

     (c)    The death, resignation, retirement, removal, bankruptcy, incompetence or incapacity to
perform the duties of an Issuer Trustee shall not operate to annul, dissolve or terminate the
Issuer Trust.

     Section 8.19.   Delegation of Power.

     (a)    Any Administrative Trustee may, by power of attorney consistent with applicable law,
delegate to any other natural person over the age of 21 (provided that such person is a U.S.
Person) his or her power for the purpose of executing any documents contemplated in Section 2.7(a),
including any registration statement or amendment thereto filed with the Commission, or making any
other governmental filing; and

     (b)    The Administrative Trustees shall have power to delegate from time to time to such of
their number or to the Sponsor (provided that, in either case, such person is a U.S. Person) the
doing of such things and the execution of such instruments either in the name of the Issuer Trust
or the names of the Administrative Trustees or otherwise as the Administrative Trustees may deem
expedient, to the extent such delegation is not prohibited by applicable law or contrary to the
provisions of this Amended Declaration.

 

49

ARTICLE IX

TERMINATION, LIQUIDATION AND MERGER

     Section 9.1.   Termination Upon Expiration Date.

     Unless earlier dissolved, the Issuer Trust shall automatically dissolve on the Final Repayment
Date (the “Expiration Date”), following the distribution of the Trust Property in accordance with
Section 9.4.

     Section 9.2.   Early Termination.

     The first to occur of any of the following events is an “Early Termination Event”, upon the
occurrence of which the Issuer Trust shall dissolve:

     (a)    the occurrence of a Bankruptcy Event in respect of, or the dissolution or liquidation
of, the Sponsor, in its capacity as the Holder of the Common Securities, unless the Common
Securities shall be transferred as provided by Section 5.11, in which case this provision shall
refer instead to any such successor Holder of the Common Securities;

     (b)    the written direction to the Property Trustee from all of the Holders of the Common
Securities at any time to dissolve the Issuer Trust and to distribute the Debentures to Holders in
exchange for the Preferred Securities (which direction is optional and wholly within the discretion
of the Holders of the Common Securities);

     (c)    the redemption of all of the Preferred Securities in accordance with the provisions of
this Amended Declaration; and

     (d)    the entry of an order for dissolution of the Issuer Trust by a court of competent
jurisdiction.

     If an Early Dissolution Event occurs, Section 9.4 shall apply.

     Section 9.3. Termination.

     The respective obligations and responsibilities of the Issuer Trustees and the Issuer Trust
created and continued hereby shall terminate upon the latest to occur of the following: (a) the
distribution by the Property Trustee to Holders of all amounts required to be distributed hereunder
upon the liquidation of the Issuer Trust pursuant to Section 9.4, or upon the redemption of all of
the Trust Securities pursuant to Section 4.2; (b) the payment of any expenses owed by the Issuer
Trust; and (c) the discharge of all administrative duties of the Administrative Trustees, including
the performance of any tax reporting obligations with respect to the Issuer Trust or the Holders.
In connection with any such termination, the Administrative Trustees shall prepare for execution
and shall file the certificate of cancellation with the Secretary of State of the State of
Delaware.

 

50

     Section 9.4.   Liquidation.

     (a)    If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs
or upon the Expiration Date, the Issuer Trust shall be liquidated by the Issuer Trustees as
expeditiously as the Issuer Trustees determine to be possible by distributing, after satisfaction
of liabilities to creditors of the Issuer Trust as provided by applicable law, including Section
3808(e) of the Act to each Holder a Like Amount of Debentures, subject to Section 9.4(d). Notice of
liquidation shall be given by the Property Trustee by first-class mail, postage prepaid mailed not
less than 30 nor more than 60 days prior to the Liquidation Date to each Holder of Trust Securities
at such Holder’s address appearing in the Securities Register. All such notices of liquidation
shall:

     (i) state the CUSIP number of the Trust Securities;

     (ii) state the Liquidation Date;

     (iii) state that from and after the Liquidation Date, the Trust Securities will no longer be
deemed to be Outstanding and any Trust Securities Certificates not surrendered for exchange will be
deemed to represent a Like Amount of Debentures, or if Section 9.4(d) applies, a right to receive a
Liquidation Distribution; and

     (iv) provide such information with respect to the procedures by which Holders may exchange
Trust Securities Certificates for Debentures, or if Section 9.4(d) applies receive a Liquidation
Distribution, as the Administrative Trustees shall deem appropriate.

     (b)    Except where Section 9.2(c) or 9.4(d) applies, in order to effect the liquidation of
the Issuer Trust and distribution of the Debentures to Holders, the Property Trustee, either itself
acting as exchange agent or through the appointment of a separate exchange agent, shall establish a
record date for such distribution (which shall be not more than 30 days prior to the Liquidation
Date) and, establish such procedures as it shall deem appropriate to effect the distribution of
Debentures in exchange for the Outstanding Trust Securities Certificates.

     (c)    Except where Section 9.2(c) or 9.4(d) applies, after the Liquidation Date, (i) the
Trust Securities will no longer be deemed to be Outstanding, (ii) certificates representing a Like
Amount of Debentures will be issued to Holders of Trust Securities Certificates, upon surrender of
such certificates to the exchange agent for exchange, (iii) any Trust Securities Certificates not
so surrendered for exchange will be deemed to represent a Like Amount of Debentures bearing accrued
and unpaid interest in an amount equal to the accumulated and unpaid Distributions on such Trust
Securities Certificates until such certificates are so surrendered (and until such certificates are
so surrendered, no payments of interest or principal will be made to Holders of Trust Securities
Certificates with respect to such Debentures) and (iv) all rights of Holders holding Trust
Securities will terminate, except the right of such Holders to receive Debentures upon surrender of
Trust Securities Certificates.

     (d)    If, notwithstanding the other provisions of this Section 9.4, whether because of an
order for dissolution entered by a court of competent jurisdiction or otherwise, distribution of
the Debentures in the manner provided herein is determined by the Property Trustee and the
Administrative Trustees not to be possible, or if an Early Dissolution Event specified in clause

 

51

     (c) of Section 9.2 occurs, the Trust Property shall be liquidated, and the Issuer Trust’s
affairs shall be wound up by the Property Trustee and the Administrative Trustees in such manner as
the Administrative Trustees determine. In such event, upon the winding-up of the Issuer Trust
except with respect to an Early Dissolution Event specified in clause (b) of Section 9.2, Holders
will be entitled to receive out of the assets of the Issuer Trust available for distribution to
Holders, after satisfaction of liabilities to creditors of the Issuer Trust as provided by
applicable law, an amount equal to the Liquidation Amount per Trust Security plus accumulated and
unpaid Distributions thereon to the date of payment (such amount being the “Liquidation
Distribution”). If, upon any such winding up, the Liquidation Distribution can be paid only in part
because the Issuer Trust has insufficient assets available to pay in full the aggregate Liquidation
Distribution, then, subject to the next succeeding sentence, the amounts payable by the Issuer
Trust on the Trust Securities shall be paid on a pro rata basis (based upon Liquidation Amounts).
The Holders of the Common Securities will be entitled to receive Liquidation Distributions upon any
such dissolution pro rata (determined as aforesaid) with Holders of Preferred Securities, except
that the Preferred Securities shall have a priority over the Common Securities under the
circumstances provided in Section 4.3.

     Section 9.5.   Mergers, Consolidations, Amalgamations or Replacements of Issuer Trust.

     The Issuer Trust may not merge with or into, consolidate, amalgamate, or be replaced by, or
convey, transfer or lease its properties and assets substantially as an entirety to any corporation
or other body, except pursuant to this Section 9.5 or Section 9.4. At the request of the Holders of
the Common Securities, with the consent of the Administrative Trustees, the Issuer Trust may merge
with or into, consolidate, amalgamate, or be replaced by or convey, transfer or lease its
properties and assets substantially as an entirety to a trust organized as such under the laws of
any state; provided that (i) such successor entity either (a) expressly assumes all of the
obligations of the Issuer Trust with respect to the Preferred Securities, or (b) substitutes for
the Preferred Securities other securities having substantially the same terms as the Preferred
Securities (the “Successor Securities”) so long as the Successor Securities have the same priority
as the Preferred Securities with respect to distributions and payments upon liquidation, redemption
and otherwise, (ii) a trustee of such successor entity possessing the same powers and duties as the
Property Trustee is appointed to hold the Debentures, (iii) such merger, consolidation,
amalgamation, replacement, conveyance, transfer or lease does not cause the Preferred Securities
(including any Successor Securities) to be downgraded by any nationally recognized statistical
rating organization which assigns ratings to the Preferred Securities, (iv) such merger,
consolidation, amalgamation, replacement, conveyance, transfer or lease does not adversely affect
the rights, preferences and privileges of the holders of the Preferred Securities (including any
Successor Securities) in any material respect, (v) such successor entity has a purpose
substantially identical to that of the Issuer Trust, (vi) prior to such merger, consolidation,
amalgamation, replacement, conveyance, transfer or lease, the Property Trustee has received an
Opinion of Counsel experienced in such matters, to the effect that (a) such merger, consolidation,
amalgamation, replacement, conveyance, transfer or lease does not adversely affect the rights,
preferences and privileges of the Holders of the Preferred Securities (including any Successor
Securities) in any material respect, (b) following such merger, consolidation, amalgamation,
replacement, conveyance, transfer or lease, neither the Issuer Trust nor such successor entity will
be required to register as an “investment company” under the Investment Company Act, and (c) such
merger, consolidation, amalgamation, replacement, conveyance, transfer or lease will not

 

52

cause the Issuer Trust or the successor entity to be classified as other than a grantor trust
for U.S. federal income tax purposes, and (vii) the Sponsor or its permitted transferee owns all of
the common securities of such successor entity and guarantees the obligations of such successor
entity under the Successor Securities at least to the extent provided by the Guarantee Agreement.
Notwithstanding the foregoing, the Issuer Trust shall not, except with the consent of Holders of
all of the Preferred Securities, consolidate, amalgamate, merge with or into, or be replaced by or
convey, transfer or lease its properties and assets substantially as an entirety to any other
entity or permit any other entity to consolidate, amalgamate, merge with or into, or replace it if
such consolidation, amalgamation, merger, replacement, conveyance, transfer or lease would cause
the Issuer Trust or the successor entity to be classified as other than a grantor trust for U.S.
federal income tax purposes.

ARTICLE X

MISCELLANEOUS PROVISIONS

     Section 10.1.   Limitation of Rights of Holders.

     Except as set forth in Section 9.2, the death, termination, dissolution, bankruptcy or
incapacity of any Person having an interest, beneficial or otherwise, in Trust Securities shall not
operate to terminate this Amended Declaration, nor dissolve, terminate or annul the Issuer Trust,
nor entitle the legal representatives, successors or heirs of such Person or any Holder for such
person, to claim an accounting, take any action or bring any proceeding in any court for a
partition or winding up of the arrangements contemplated hereby, nor otherwise affect the rights,
obligations and liabilities of the parties hereto or any of them.

     All parties to this Amended Declaration agree, and each Holder of any Trust Securities by his
or her acceptance thereof shall be deemed to have agreed, that any court may in its discretion
require, in any suit against any Issuer Trustee for any action taken or omitted by it as Issuer
Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such
suit, and that such court may in its discretion assess reasonable costs, including reasonable
attorneys’ fees, 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 paragraph
shall not apply to any suit instituted by any Issuer Trustee or to any suit instituted by any
Holder or group of Holders of more than 10% in aggregate number of the outstanding Trust
Securities.

     Section 10.2.   Amendment.

     (a)    This Amended Declaration may be amended from time to time by the Administrative
Trustees and the Holders of all of the Common Securities, without the consent of any Holder of the
Trust Preferred Securities, the Property Trustee or the Delaware Trustee (i) to cure any ambiguity,
correct or supplement any provision herein that may be inconsistent with any other provision
herein, or to make any other provisions with respect to matters or questions arising under this
Amended Declaration, which shall not be inconsistent with the other provisions of this Amended
Declaration, (ii) modify, eliminate or add to any provisions of this Trust Agreement to such extent
as shall be necessary to ensure that the Issuer Trust will not be classified as other than a
grantor trust for U.S. federal income tax purposes at all times that any

 

53

Trust Securities are outstanding, to ensure that the Issuer Trust will not be required to
register as an “investment company” under the Investment Company Act or to ensure the treatment of
the Preferred Securities as Tier 1 regulatory capital under the prevailing Federal Reserve Board
rules and regulations, (iii) to require that Holders that are not U.S. persons for U.S. federal
income tax purposes irrevocably appoint a U.S. person to exercise any voting rights to ensure that
the Issuer Trust will not be treated as a foreign trust for U.S. federal income tax purposes, or
(iv) to conform the terms of this Amended Declaration to the description of this Amended
Declaration and the Trust Securities in the Prospectus Supplement; provided, however, that in the
case of either clause (i) or (ii), such action shall not adversely affect in any material respect
the interests of any Holder, the Property Trustee or the Delaware Trustee, or impose any additional
duty or obligation on the Property Trustee or the Delaware Trustee; provided, further, that in the
case of clause (iv), the Sponsor shall deliver to the Property Trustee an Officers’ Certificate and
an Opinion of Counsel (who may be counsel to the Sponsor or the Issuer Trust), in each case
confirming that such amendment has the effect of conforming the terms of this Amended Declaration
to the descriptions of this Amended Declaration and the Trust Securities in the Prospectus
Supplement. Any such amendment shall become effective when notice is given to the Property Trustee,
the Delaware Trustee and the Holders of the Preferred Securities.

     (b)    Except as provided in Section 10.2(c), any provision of this Amended Declaration may be
amended by the Administrative Trustees and the Holders of all of the Common Securities with the
consent of Holders of at least a Majority in Liquidation Amount of the Trust Securities; provided
that the Issuer Trustees have received an Opinion of Counsel experienced in such matters to the
effect that such amendment or the exercise of any power granted to the Issuer Trustees or
Administrative Trustees in accordance with such amendment will not cause the Issuer Trust to be
classified as other than a grantor trust for U.S. federal income tax purposes or affect the Issuer
Trust’s exemption from status as an “investment company” under the Investment Company Act.

     (c)    In addition to and notwithstanding any other provision in this Amended Declaration,
without the consent of each affected Holder, this Amended Declaration may not be amended to (i)
change the amount or timing of any Distribution on the Trust Securities or otherwise adversely
affect the amount of any Distribution required to be made in respect of the Trust Securities as of
a specified date, (ii) restrict the right of a Holder to institute suit for the enforcement of any
such payment on or after such date, or (iii) impair the rights of the Holders of the Preferred
Securities to institute a Direct Action; and notwithstanding any other provision herein, without
the unanimous consent of the Holders, this Section 10.2(c) may not be amended.

     (d)    Notwithstanding any other provisions of this Amended Declaration, no Issuer Trustee
shall enter into or consent to any amendment to this Amended Declaration that would cause the
Issuer Trust to fail or cease to qualify for the exemption from status as an “investment company”
under the Investment Company Act or to be classified as other than a grantor trust for U.S. federal
income tax purposes.

     (e)    Notwithstanding anything in this Amended Declaration to the contrary, without the
consent of the Sponsor and the Administrative Trustees, this Amended Declaration may not be amended
in a manner that imposes any additional obligation on the Sponsor or the Administrative Trustees.

 

54

     (f)    Notwithstanding anything in this Amended Declaration to the contrary, without the
consent of the Property Trustee, this Amended Declaration may not be amended in a manner that
imposes any additional obligation on the Property Trustee or that adversely affects the Property
Trustee.

     (g)    Notwithstanding anything in this Amended Declaration to the contrary, without the
consent of the Delaware Trustee, this Amended Declaration may not be amended in a manner that
imposes any additional obligation on the Delaware Trustee or that adversely affects the Delaware
Trustee.

     (h)    Notwithstanding anything in this Amended Declaration to the contrary, without the
consent of the Securities Registrar and the Paying Agent, this Amended Declaration may not be
amended in a manner that imposes any additional obligation on the Securities Registrar or the
Paying Agent or that adversely affects the Securities Registrar or the Paying Agent.

     (i)    In the event that any amendment to this Amended Declaration is made, the Administrative
Trustees shall promptly provide to the Sponsor, the Property Trustee and the Delaware Trustee a
copy of such amendment.

     (j)    Neither the Property Trustee nor the Delaware Trustee shall be required to enter into
any amendment to this Amended Declaration that affects its own rights, duties or immunities under
this Amended Declaration. The Property Trustee shall be entitled to receive an Opinion of Counsel
and an Officers’ Certificate stating that any amendment to this Amended Declaration is in
compliance with this Amended Declaration.

     Section 10.3.   Separability.

     In case any provision in this Amended Declaration or in the Trust Securities Certificates
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 10.4.   Governing Law.

     THIS AMENDED DECLARATION AND THE RIGHTS AND OBLIGATIONS OF EACH OF THE HOLDERS, THE ISSUER
TRUST, THE SPONSOR AND THE ISSUER TRUSTEES WITH RESPECT TO THIS AMENDED DECLARATION AND THE TRUST
SECURITIES SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE
WITHOUT REFERENCE TO ITS CONFLICTS OF LAWS PROVISIONS.

     Section 10.5.   Payments Due on Non-Business Day.

     If the date fixed for any payment on any Trust Security shall be a day that is not a Business
Day, then such payment need not be made on such date but may be made on the next succeeding day
that is a Business Day, with the same force and effect as though made on the date fixed for such
payment, and no Distributions shall accumulate on such unpaid amount for the period after such
date.

 

55

     Section 10.6.   Successors.

     This Amended Declaration shall be binding upon and shall inure to the benefit of any successor
to the Sponsor, the Issuer Trust and any Issuer Trustee, including any successor by operation of
law. Except in connection with a consolidation, merger or sale involving the Sponsor that is
permitted under Article VIII of the Indenture and pursuant to which the assignee agrees in writing
to perform the Sponsor’s obligations hereunder, the Sponsor shall not assign its obligations
hereunder.

     Section 10.7.   Headings.

     The Article and Section headings are for convenience only and shall not affect the
construction of this Amended Declaration.

     Section 10.8.   Reports, Notices and Demands.

     Any report, notice, demand or other communication that by any provision of this Amended
Declaration is required or permitted to be given or served to or upon any Holder, the Sponsor or
the Administrative Trustees may be given or served in writing by deposit thereof, first-class,
postage prepaid, in the United States mail, hand delivery or facsimile transmission, in each case,
addressed, (a) in the case of a Holder of Preferred Securities, to such Holder as such Holder’s
name and address may appear on the Securities Register; and (b) in the case of the Holder of the
Common Securities or the Sponsor, to, Huntington Center, 41 South High Street, Columbus, Ohio 43287
Attention: ___, or to such other address as may be specified in a written notice by the
Sponsor to the Property Trustee. Such notice, demand or other communication to or upon a Holder
shall be deemed to have been sufficiently given or made, for all purposes, upon hand delivery,
mailing or transmission. Such notice, demand or other communication to or upon the Sponsor or the
Holder of the Common Securities shall be deemed to have been sufficiently given or made only upon
actual receipt of the writing by the Sponsor or the Holder of the Common Securities, as the case
may be.

     Any notice, demand or other communication that by any provision of this Amended Declaration is
required or permitted to be given or served to or upon the Issuer Trust, the Property Trustee, the
Delaware Trustee, the Administrative Trustees or the Issuer Trust shall be given in writing
addressed to such Person as follows: (a) with respect to the Property Trustee, to The Bank of New
York 101 Barclay Street, New York, New York 10286, Attention: Corporate Finance Group; (b) with
respect to the Delaware Trustee, to White Clay Center, P.O. Box 6973, Route 273, Newark, Delaware
19711, Attention: ___; (c) with respect to the Administrative Trustees, to them at the
address above for notices to the Sponsor, marked “Attention: Administrative Trustees of Huntington
Capital ___”; and (d) with respect to the Issuer Trust, to its principal office specified in
Section 2.2, with a copy to the Property Trustee. Such notice, demand or other communication to or
upon the Issuer Trust, the Property Trustee or the Administrative Trustees shall be deemed to have
been sufficiently given or made only upon actual receipt of the writing by the Issuer Trust, the
Property Trustee or such Administrative Trustee.

 

56

     Section 10.9.   Agreement Not to Petition.

     Each of the Issuer Trustees and the Sponsor agree for the benefit of the Holders that, until
at least one year and one day after the Issuer Trust has been terminated in accordance with Article
IX, they shall not file, or join in the filing of, a petition against the Issuer Trust under any
bankruptcy, insolvency, reorganization or other similar law (including the United States Bankruptcy
Code) (collectively, “Bankruptcy Laws”) or otherwise join in the commencement of any proceeding
against the Issuer Trust under any Bankruptcy Law. If the Sponsor takes action in violation of this
Section 10.9, the Property Trustee agrees, for the benefit of Holders, that at the expense of the
Sponsor, it shall file an answer with the bankruptcy court or otherwise properly contest the filing
of such petition by the Sponsor against the Issuer Trust or the commencement of such action and
raise the defense that the Sponsor has agreed in writing not to take such action and should be
estopped and precluded therefrom and such other defenses, if any, as counsel for the Issuer
Trustees or the Issuer Trust may assert.

     Section 10.10.   Trust Indenture Act; Conflict with Trust Indenture Act.

     (a)    This Amended Declaration is subject to the provisions of the Trust Indenture Act that
are required to be part of this Amended Declaration and shall, to the extent applicable, be
governed by such provisions.

     (b)    The Property Trustee shall be the only Issuer Trustee that is a trustee for the
purposes of the Trust Indenture Act.

     (c)    If any provision hereof limits, qualifies or conflicts with the duties imposed by
Sections 310 to 317, inclusive, of the Trust Indenture Act through operation of Section 318(c)
thereof, such imposed duties shall control. If any provision of this Amended Declaration modifies
or excludes any provision of the Trust Indenture Act which may be so modified or excluded, the
latter provision shall be deemed to apply to this Amended Declaration as so modified or excluded,
as the case may be.

     (d)    The application of the Trust Indenture Act to this Amended Declaration shall not affect
the nature of the Trust Securities as equity securities representing undivided beneficial interests
in the assets of the Issuer Trust.

     Section 10.11.   Acceptance of Terms of Amended Declaration, Guarantee Agreement and
Indenture.

     THE RECEIPT AND ACCEPTANCE OF A TRUST SECURITY OR ANY INTEREST THEREIN BY OR ON BEHALF OF A
HOLDER OR ANY BENEFICIAL OWNER, WITHOUT ANY SIGNATURE OR FURTHER MANIFESTATION OF ASSENT, SHALL
CONSTITUTE THE UNCONDITIONAL ACCEPTANCE BY THE HOLDER AND ALL OTHERS HAVING A BENEFICIAL INTEREST
IN SUCH TRUST SECURITY OF ALL THE TERMS AND PROVISIONS OF THIS AMENDED DECLARATION, THE GUARANTEE
AGREEMENT, THE INDENTURE AND THE SUPPLEMENTAL INDENTURE, AND AGREEMENT TO THE SUBORDINATION
PROVISIONS AND OTHER TERMS OF THE GUARANTEE AGREEMENT AND THE INDENTURE, AND SHALL CONSTITUTE THE
AGREEMENT OF THE ISSUER TRUST, SUCH HOLDER AND SUCH OTHERS THAT

 

57

THE TERMS AND PROVISIONS OF THIS AMENDED DECLARATION SHALL BE BINDING, OPERATIVE AND EFFECTIVE
AS BETWEEN THE ISSUER TRUST AND SUCH HOLDER AND SUCH OTHERS.

* * * *

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

 

58

     IN WITNESS WHEREOF, the parties hereto have executed this Amended and Restated Amended
Declaration.

	 	 	 	 	 
	 	HUNTINGTON BANCSHARES INCORPORATED,

   as Sponsor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE BANK OF NEW YORK,

   as Property Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	THE BANK OF NEW YORK (DELAWARE),

   as Delaware Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	 	 	 
	 	 	Name:  	 	 
	 	 	  	as Administrative Trustee 	 
	 
	 	 	 	 
	 	 	Name:  	 	 
	 	 	 	as Administrative Trustee 	 

 

Exhibit B

[FORM OF COMMON SECURITIES CERTIFICATE]

THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT IN COMPLIANCE WITH APPLICABLE LAW AND SECTION 5.11 OF
THE DECLARATION OF TRUST

			
	Certificate Number
	 	Number of Common Securities

     CI-

Certificate Evidencing Common Securities

of

Huntington Capital           

          % Common Securities

(liquidation amount $1,000 per Common Security)

     Huntington Capital           , a statutory trust created under the laws of the State of Delaware
(the “Issuer Trust”), hereby certifies that Huntington Bancshares Incorporated (the “Holder”) is
the registered owner of            common securities of the Issuer Trust representing common undivided
beneficial interests in the assets of the Issuer Trust and designated the           % Common Securities
(liquidation amount $1,000 per Common Security) (the “Common Securities”). Except in accordance
with Section 5.11 of the Declaration of Trust (as defined below), the Common Securities are not
transferable and, to the fullest extent permitted by law, any attempted transfer hereof other than
in accordance therewith shall be void. The designations, rights, privileges, restrictions,
preferences and other terms and provisions of the Common Securities are set forth in, and this
certificate and the Common Securities represented hereby are issued and shall in all respects be
subject to the terms and provisions of, the Amended and Restated Declaration of Trust of the Issuer
Trust, dated as of                     , 20     , as the same may be amended from time to time (the “Declaration
of Trust”), among Huntington Bancshares Incorporated, as Sponsor, The Bank of New York, as Property
Trustee, The Bank of New York (Delaware), as Delaware Trustee, the Administrative Trustees named
therein, and the holders, from time to time, of undivided beneficial interests in the assets of the
Issuer Trust including the designation of the terms of the Common Securities as set forth therein.
The Issuer Trust will furnish a copy of the Declaration of Trust to the Holder without charge upon
written request to the Issuer Trust at its principal place of business or registered office.

     Upon receipt of this certificate, the Holder is bound by the Declaration of Trust and is
entitled to the benefits thereunder.

     Terms used but not defined herein have the meanings set forth in the Declaration of Trust.

B-1

 

     IN WITNESS WHEREOF, one of the Administrative Trustees of the Issuer Trust has executed this
certificate on behalf of the Issuer Trust this           th day of                     , 20     .

	 	 	 	 	 
	 	HUNTINGTON CAPITAL           

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	  	Administrative Trustee 	 
	 

B-2

 

Exhibit C

[FORM OF PREFERRED SECURITIES CERTIFICATE]

     THIS PREFERRED SECURITIES CERTIFICATE IS A BOOK-ENTRY PREFERRED SECURITIES CERTIFICATE WITHIN
THE MEANING OF THE DECLARATION OF TRUST HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
CLEARING AGENCY OR A NOMINEE OF A CLEARING AGENCY. THIS PREFERRED SECURITIES CERTIFICATE IS
EXCHANGEABLE FOR PREFERRED SECURITIES CERTIFICATES REGISTERED IN THE NAME OF A PERSON OTHER THAN
THE CLEARING AGENCY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE DECLARATION
OF TRUST AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE CLEARING AGENCY TO A NOMINEE OF THE
CLEARING AGENCY OR BY A NOMINEE OF THE CLEARING AGENCY TO THE CLEARING AGENCY OR ANOTHER NOMINEE OF
THE CLEARING AGENCY, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE DECLARATION OF TRUST.

     UNLESS THIS PREFERRED SECURITY CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO HUNTINGTON CAPITAL ___ OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY PREFERRED SECURITY 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 A PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN.

C-1

 

			
	Certificate Number
	 	Number of Preferred Securities

     CAI-

CUSIP NO.

Certificate Evidencing Trust Preferred Securities

of

Huntington Capital           

          % Trust Preferred Securities

(liquidation amount $1,000 per Trust Preferred Security)

     Huntington Capital           , a statutory trust created under the laws of the State of Delaware
(the “Issuer Trust”), hereby certifies that Cede & Co. (the “Holder”) is the registered owner of
           Preferred Securities of the Issuer Trust representing an undivided preferred beneficial
interest in the assets of the Issuer Trust and designated the Huntington Capital                      % Trust
Preferred Securities (liquidation amount $1,000 per Trust Preferred Security) (the “Preferred
Securities”). The Preferred Securities are transferable on the books and records of the Issuer
Trust, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed
and in proper form for transfer as provided in Section 5.5 of the Declaration of Trust (as defined
below). The designations, rights, privileges, restrictions, preferences and other terms and
provisions of the Preferred Securities are set forth in, and this certificate and the Preferred
Securities represented hereby are issued and shall in all respects be subject to the terms and
provisions of, the Amended and Restated Declaration of Trust of the Issuer Trust, dated as of
                    , 20      as the same may be amended from time to time (the “Declaration of Trust”), among
Huntington Bancshares Incorporated, as Sponsor, The Bank of New York, as Property Trustee, The Bank
of New York (Delaware), as Delaware Trustee, the Administrative Trustees named therein, and the
holders, from time to time of undivided beneficial interests in the assets of the Issuer Trust
including the designation of the terms of the Preferred Securities as set forth therein. The Holder
is entitled to the benefits of the Guarantee Agreement entered into by Huntington Bancshares
Incorporated, a Maryland corporation, and The Bank of New York, as guarantee trustee, dated as of
                    , 20     , as the same may be amended from time to time (the “Guarantee Agreement”), to the
extent provided therein. The Issuer Trust will furnish a copy of the Declaration of Trust and the
Guarantee Agreement to the Holder without charge upon written request to the Issuer Trust at its
principal place of business or registered office.

     Upon receipt of this certificate, the Holder is bound by the Declaration of Trust and is
entitled to the benefits thereunder.

C-2

 

     IN WITNESS WHEREOF, one of the Administrative Trustees of the Issuer Trust has executed this
certificate on behalf of the Issuer Trust this            day of                     , 20     .

	 	 	 	 	 
	 	HUNTINGTON CAPITAL           

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	Administrative Trustee 	 
	 

     This is one of the Preferred Securities referred to in the within-mentioned Declaration of
Trust.

	 	 	 	 	 
	 	THE BANK OF NEW YORK,

as Property Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	Authorized Officer 	 
	 

C-3

 

ASSIGNMENT

     FOR VALUE RECEIVED, the undersigned assigns and transfers this Preferred Security to:

 

(Insert assignee’s social security or tax identification number)

 

(Insert address and zip code of assignee)

	 	 	 
	and irrevocably appoints

	 	 
	 

	 	 

agent to transfer this Preferred Securities Certificate on the books of the Issuer Trust. The agent
may substitute another to act for him or her.

	 	 	 	 	 
	Date:                 
                      
	 
	Signature:  	 

(Sign exactly as your name appears on the other

side of this Preferred Securities Certificate)

The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers,
savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to S.E.C. Rule 17Ad-15.

C-4

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