Document:

Exhibit 4.1

 

Exhibit 4.1

 

PPG INDUSTRIES, INC.

TO

The Bank of New York

Trustee

 

Indenture

Dated as of June 24, 2005

 

 

 

 

TABLE OF CONTENTS1

	 	 	 	 	 
	 	 	Page	 
	PARTIES
	 	 	1	 
	RECITALS OF THE COMPANY
	 	 	1	 
	 
	 	 	 	 
	ARTICLE 1
	 	 	 	 
	Definitions And Other Provisions Of General Application
	 	 	 	 
	 
	 	 	 	 
	Section 1.01. Definitions
	 	 	1	 
	Section 1.02. Compliance Certificates and Opinions 
	 	 	7	 
	Section 1.03. Form of Documents Delivered to Trustee 
	 	 	8	 
	Section 1.04. Acts of Holders 
	 	 	9	 
	Section 1.05. Notices, etc., to Trustee and Company 
	 	 	10	 
	Section 1.06. Notice to Holders; Waiver 
	 	 	10	 
	Section 1.07. Effect of Headings and Table of Contents 
	 	 	11	 
	Section 1.08. Successors and Assigns 
	 	 	11	 
	Section 1.09. Separability Clause 
	 	 	11	 
	Section 1.10. Benefits of Indenture 
	 	 	11	 
	Section 1.11. Governing Law 
	 	 	11	 
	Section 1.12. Legal Holidays 
	 	 	12	 
	Section 1.13. Judgment Currency 
	 	 	12	 
	 
	 	 	 	 
	ARTICLE 2
	 	 	 	 
	Note Forms
	 	 	 	 
	 
	 	 	 	 
	Section 2.01. Forms Generally 
	 	 	12	 
	Section 2.02. Notes Issuable in Global Form 
	 	 	13	 
	 
	 	 	 	 
	 ARTICLE 3
	 	 	 	 
	 The Notes
	 	 	 	 
	 
	 	 	 	 
	Section 3.01. Amount 
	 	 	14	 
	Section 3.02. Denominations 
	 	 	14	 
	Section 3.03. Execution, Authentication, Delivery and Dating 
	 	 	14	 
	Section 3.04. Global Notes and Definitive Notes 
	 	 	15	 
	Section 3.05. Mutilated, Destroyed, Lost and Stolen Notes 
	 	 	17	 
	Section 3.06. Payment of Interest; Interest Rights Preserved 
	 	 	17	 

 

	1Note:    This table of contents shall not, for
any purpose, be deemed to be a part of the Indenture.	 

i

 

	 	 	 	 	 
	 	 	Page	 
	Section 3.07. Payment of Additional Amounts
	 	 	18	 
	Section 3.08. Persons Deemed Owners 
	 	 	19	 
	Section 3.09. Cancellation 
	 	 	20	 
	Section 3.10. Computation of Interest 
	 	 	20	 
	Section 3.11. CUSIP/ISIN Numbers 
	 	 	20	 
	 
	 	 	 	 
	ARTICLE 4
	 	 	 	 
	Satisfaction and Discharge
	 	 	 	 
	 
	 	 	 	 
	Section 4.01. Satisfaction and Discharge of Indenture 
	 	 	21	 
	Section 4.02. Application of Trust Money 
	 	 	22	 
	 
	 	 	 	 
	 ARTICLE 5
	 	 	 	 
	Remedies
	 	 	 	 
	 
	 	 	 	 
	Section 5.01. Events of Default 
	 	 	22	 
	Section 5.02. Acceleration of Maturity; Rescission and Annulment 
	 	 	24	 
	Section 5.03. Collection of Indebtedness and Suits for Enforcement by Trustee 
	 	 	25	 
	Section 5.04. Trustee May File Proofs of Claim 
	 	 	25	 
	Section 5.05. Trustee May Enforce Claims Without Possession of Notes 
	 	 	26	 
	Section 5.06. Application of Money Collected  
	 	 	26	 
	Section 5.07. Limitation on Suits 
	 	 	27	 
	Section 5.08. Restoration of Rights and Remedies 
	 	 	27	 
	Section 5.09. Rights and Remedies Cumulative 
	 	 	28	 
	Section 5.10. Delay or Omission Not Waiver 
	 	 	28	 
	Section 5.11. Control by Holders 
	 	 	28	 
	Section 5.12. Waiver of Past Defaults 
	 	 	28	 
	Section 5.13. Undertaking for Costs 
	 	 	29	 
	Section 5.14. Waiver of Stay or Extension Laws 
	 	 	29	 
	 
	 	 	 	 
	 ARTICLE 6
	 	 	 	 
	 The Trustee
	 	 	 	 
	 
	 	 	 	 
	Section 6.01. Certain Duties and Responsibilities 
	 	 	30	 
	Section 6.02. Notice of Defaults 
	 	 	31	 
	Section 6.03. Certain Rights of Trustee 
	 	 	31	 
	Section 6.04. Not Responsible for Recitals or Issuance of Notes 
	 	 	33	 
	Section 6.05. May Hold Notes 
	 	 	33	 
	Section 6.06. Money Held in Trust 
	 	 	33	 
	Section 6.07. Compensation and Reimbursement 
	 	 	33	 
	Section 6.08. Corporate Trustee Required; Eligibility 
	 	 	34	 
	Section 6.09. Resignation and Removal; Appointment of Successor 
	 	 	34	 
	Section 6.10. Acceptance of Appointment by Successor 
	 	 	35	 
	Section 6.11. Merger, Conversion, Consolidation or Succession to Business 
	 	 	36	 

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	 	 	Page	 
	 ARTICLE 7
	 	 	 	 
	 Consolidation, Merger, Conveyance, Transfer or Lease
	 	 	 	 
	 
	 	 	 	 
	Section 7.01. Company May Consolidate, etc., Only on Certain Terms 
	 	 	36	 
	Section 7.02. Successor Corporation Substituted 
	 	 	37	 
	 
	 	 	 	 
	ARTICLE 8
	 	 	 	 
	Supplemental Indentures
	 	 	 	 
	 
	 	 	 	 
	Section 8.01. Supplemental Indentures Without Consent of Holders 
	 	 	38	 
	Section 8.02. Supplemental Indentures with Consent of Holders 
	 	 	38	 
	Section 8.03. Execution of Supplemental Indentures 
	 	 	39	 
	Section 8.04. Effect of Supplemental Indentures 
	 	 	39	 
	Section 8.05. Reference in Notes to Supplemental Indentures 
	 	 	40	 
	 
	 	 	 	 
	 ARTICLE 9
	 	 	 	 
	Covenants
	 	 	 	 
	 
	 	 	 	 
	Section 9.01. Payment of Principal, Premium and Interest 
	 	 	40	 
	Section 9.02. Maintenance of Office or Agency 
	 	 	40	 
	Section 9.03. Money for Notes Payments to be Held in Trust 
	 	 	41	 
	Section 9.04. Limitation on Secured Debt 
	 	 	42	 
	Section 9.05. Limitation on Sale and Leaseback Transactions and Transfers of Assets to Unrestricted Subsidiaries 
	 	 	43	 
	Section 9.06. Corporate Existence 
	 	 	44	 
	Section 9.07. Maintenance of Properties 
	 	 	45	 
	Section 9.08. Payment of Taxes and Other Claims 
	 	 	45	 
	Section 9.09. Statement by Officers as to Default 
	 	 	45	 
	Section 9.10. Waiver of Certain Covenants 
	 	 	46	 
	 
	 	 	 	 
	 ARTICLE 10
	 	 	 	 
	 Redemption
	 	 	 	 
	 
	 	 	 	 
	Section 10.01. Applicability of Article 
	 	 	46	 
	Section 10.02. Election to Redeem; Notice to Trustee 
	 	 	46	 
	Section 10.03. Redemption for Tax Reasons 
	 	 	46	 
	Section 10.04. Partial Redemption 
	 	 	47	 
	Section 10.05. Notice of Redemption 
	 	 	48	 
	Section 10.06. Deposit of Redemption Price 
	 	 	48	 
	Section 10.07. Notes Payable on Redemption Date 
	 	 	48	 
	Section 10.08. Notes Redeemed in Part 
	 	 	49	 
	 
	 	 	 	 
	 ARTICLE 11
	 	 	 	 
	 Meetings of Holders of Notes
	 	 	 	 
	 
	 	 	 	 
	Section 11.01. Purposes for Which Meetings May Be Called 
	 	 	49	 
	Section 11.02. Call, Notice and Place of Meetings 
	 	 	49	 

iii

 

	 	 	 	 	 
	 	 	Page	 
	Section 11.03. Persons Entitled to Vote at Meetings 
	 	 	49	 
	Section 11.04. Quorum; Action 
	 	 	50	 
	Section 11.05. Determination of Voting Rights; Conduct and Adjournment of Meetings 
	 	 	50	 
	Section 11.06. Counting Votes and Recording Action of Meetings 
	 	 	51	 
	 
	 	 	 	 
	ARTICLE 12
	 	 	 	 
	 Defeasance And Covenant Defeasance
	 	 	 	 
	 
	 	 	 	 
	Section 12.01. Company’s Option To Effect Defeasance Or Covenant Defeasance 
	 	 	52	 
	Section 12.02. Defeasance And Discharge 
	 	 	52	 
	Section 12.03. Covenant Defeasance 
	 	 	52	 
	Section 12.04. Conditions To Defeasance Or Covenant Defeasance 
	 	 	53	 
	Section 12.05. Deposited Money And U.S. Government Obligations To Be Held In Trust; Miscellaneous Provisions 
	 	 	55	 
	Section 12.06. Reinstatement 
	 	 	56	 

iv

 

EXHIBITS

	 	 	 	 	 
	EXHIBIT A

	 	FORMS OF GLOBAL AND DEFINITIVE NOTES
	 	A-1
	 
	 	 	 	 
	EXHIBIT B-1

	 	FORM OF CERTIFICATE TO BE
GIVEN BY PERSON ENTITLED TO RECEIVE BEARER NOTE OR TO OBTAIN INTEREST PAYABLE
PRIOR TO THE EXCHANGE DATE
	 	B-1-1
	 
	 	 	 	 
	EXHIBIT B-2

	 	FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR AND CLEARSTREAM BANKING SOCIETE
ANONYME IN CONNECTION WITH THE EXCHANGE OF A PORTION OF A TEMPORARY GLOBAL NOTE
OR TO OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE DATE
	 	B-2-1

i

 

     INDENTURE, dated as of June 24, 2005, between PPG INDUSTRIES, INC., a corporation duly
organized and existing under the laws of the Commonwealth of Pennsylvania (herein called the
“Company”), having its principal office at One PPG Place, Pittsburgh, Pennsylvania 15272, and The
Bank of New York, a New York banking corporation, as Trustee (herein called the “Trustee”).

RECITALS OF THE COMPANY

     The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance of its 3.875% Senior Notes due 2015 (herein called the “Notes”) in an aggregate
principal amount of €300,000,000.

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

     NOW, THEREFORE, THIS INDENTURE WITNESSETH:

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

ARTICLE 1

Definitions And Other Provisions Of General Application

     Section 1.01.
Definitions.

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

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

     (2) all accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with generally accepted accounting principles; and

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

     “Act”, when used with respect to any Holder, has the meaning specified in Section 1.04.

 

 

     “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.

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

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

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

     “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day
on which banking institutions in the Place of Payment are authorized or obligated by law to close.

     “Call Option” has the meaning specified in Section 10.02.

     “Common Depositary” means, with respect to Notes issuable in whole or in part in the form of
one or more Global Notes, The Bank of New York Depository (Nominees) Limited, a common depositary
for Euroclear Bank S.A./N.V., as operator of the Euroclear System, (Euroclear), and Clearstream
Banking, société anonyme (Clearstream, Luxembourg).

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

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

2

 

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

     “corporation” includes corporations, associations, companies and business trusts.

     “Early Redemption Amount” means €50,000 per €50,000 amount of the Notes and €1,000 per
€1,000 in excess thereof, plus accrued interest, if any, to the Redemption Date.

     “Event of Default” has the meaning specified in Section 5.01.

     “Funded Debt” means all indebtedness for money borrowed which by its terms matures at or is
extendable or renewable at the option of the obligor to a date more than twelve months after the
date of the creation of such indebtedness.

     “German Government Bond Rate” means the rate equal to the yield, as published by the German
Central Bank, on actively traded Federal Republic of Germany government bonds with a maturity
comparable to the maturity of the Notes, as selected by the Financial Adviser. If there is no such
publication of this yield during the week preceding the date on which the German Government Bond
Rate is to be calculated, the German Government Bond Rate shall be calculated by reference to
quotations from selected primary Federal Republic of Germany government bonds dealers in Frankfurt
selected by the Financial Adviser. The German Government Bond Rate shall be calculated on the
third day (other than a Saturday or Sunday) on which banks and foreign exchange markets are open
for business generally in Frankfurt preceding the Redemption Date.

     “Global Note” means a Note that evidences all or part of the Notes and bears the legend set
forth in Exhibit A.

     “Holder” means (i) with respect to definitive Notes, a bearer of a Note and (ii) with respect
to the Notes represented by a Global Note (other than with respect to the payment of principal and
interest, if any, and, where applicable, Additional Amounts on the Notes, the right to which shall
be vested solely in the bearer of a Global Note in accordance with and subject to its terms), each
person who is for the time being shown in the records of Euroclear and Clearstream, Luxembourg as
the holder of a particular amount of Notes.

     “Indenture” means this instrument as originally executed or as it may from time to time be
supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the
applicable provisions hereof.

     “Interest Payment Date”, when used with respect to any Note, means June 24 in each year up to
(and including) the Stated Maturity.

3

 

     “Judgment” has the meaning specified in Section 1.13.

     “Make Whole Premium” means the excess, if any (as reported in writing to the Company and the
Trustee by a reputable financial institution operating in the German government bond market in
Frankfurt selected by the Company and approved in writing by the Trustee (the “Financial Adviser”)
(and rounded, if necessary, to the third decimal place (0.0005 being rounded upwards)), of (a) the
value at the Redemption Date of the principal amount of the Notes, plus all required interest
payments that would otherwise be due to be paid on the Notes during the period between the
Redemption Date and the Stated Maturity, excluding accrued but unpaid interest at the Redemption
Date, calculated using a discount rate equal to ten basis points above the German Government Bond
Rate over (b) the outstanding principal amount of the Notes;

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

     “Officers’ Certificate” means a certificate signed by the Chairman of the Board, the President
or a Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant
Secretary, of the Company, and delivered to the Trustee.

     “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Company.

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

     (i) Notes theretofore cancelled by the Trustee or delivered to the Trustee for cancellation;

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

     (iii) Notes which have been paid pursuant to Section 3.05 or in lieu of which other Notes have
been authenticated and delivered pursuant to this Indenture, other than any such Notes in respect
of which there shall have been presented to the Trustee proof satisfactory to it that such Notes
are held by a bona fide purchaser in whose hands such Notes are valid obligations of the Company;

4

 

provided, however that in determining whether the Holders of the requisite principal amount of the
Outstanding Notes have given, made or taken any request, demand, authorization, direction, notice,
consent, waiver or other action hereunder as of any date, Notes owned by the Company or any other
obligor upon the Notes or any Affiliate of the Company or of such other obligor shall be
disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall
be protected in relying upon any such request, demand, authorization, direction, notice, consent,
waiver or other action, only Notes which a Responsible Officer of the Trustee actually knows to be
so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be
regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s
right so to act with respect to such Notes and that the pledgee is not the Company or any other
obligor upon the Notes or any Affiliate of the Company or of such other obligor.

     “Paying Agent” means any Person authorized by the Company to pay the principal of (and
premium, if any) or interest (if any) on any Notes on behalf of the Company.

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

     “Place of Payment”, when used with respect to the Notes, means London, England.

     “Predecessor Note” of any particular Note means every previous Note evidencing all or a
portion of the same debt as that evidenced by such particular Note; and, for the purposes of this
definition, any Note authenticated and delivered under Section 3.05 in exchange for or in lieu of a
mutilated, destroyed, lost or stolen Note shall be deemed to evidence the same debt as the
mutilated, destroyed, lost or stolen Note.

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

     “Redemption Price” has the meaning specified in Section 10.02.

     “Responsible Officer”, when used with respect to the Trustee, means any vice president, the
treasurer, any assistant treasurer, any trust officer or assistant trust officer or any other
officer of the Trustee customarily performing functions similar to those performed by any of the
above designated officers and also means, with respect to a particular corporate trust matter, any
other officer to whom such matter is referred because of his knowledge of and familiarity with the
particular subject and who shall have direct responsibility for the administration of this
Indenture.

5

 

     “Restricted Subsidiary” means:

       (a) any Subsidiary other than

     (i) a Subsidiary substantially all of the physical properties of which are located,
or substantially all of the business of which is carried on, outside the United States of
America (“United States of America” shall not include the territories and possessions
thereof), or

     (ii) a Subsidiary the primary business of which consists of purchasing accounts
receivable and/or making loans secured by accounts receivable or inventories and/or making
investments in real estate or providing services directly related thereto, or which is
otherwise primarily engaged in the business of a finance or real estate investment
company, or

     (iii) a Subsidiary the primary business of which consists of leasing equipment,
machinery, vehicles, rolling stock and other articles for use in the business of the
Company, or

     (iv) a Subsidiary the stock of which is held primarily for the purpose of securing
the investment of the Company in such Subsidiary, while the management of such Subsidiary
is accumulating funds for the purchase of such stock pursuant to written contract

     and

     (b) any Subsidiary specified in clauses (i) through (iv) of paragraph (a) above which at the
time of determination shall be a Restricted Subsidiary pursuant to designation by the Board of
Directors hereinafter provided for.

     The Company may by Board Resolution designate any Restricted Subsidiary to be an Unrestricted
Subsidiary, provided that in the opinion of the Board of Directors it does not own a major
manufacturing or research property, plant or facility of the Company and its Restricted
Subsidiaries taken as a whole, and may designate any Unrestricted Subsidiary to be a Restricted
Subsidiary. The Company may by Board Resolution designate a newly acquired or formed Subsidiary to
be an Unrestricted Subsidiary, provided such designation takes place within 90 days of such
acquisition or formation.

     “Secured Debt” means indebtedness for money borrowed if such indebtedness is secured by a
mortgage, pledge, lien, security interest or encumbrance on any of the present or future
manufacturing or research property, plant or facilities of the Company or any Restricted Subsidiary
(but not including a property determined not to be a principal property of the Company or a
Restricted Subsidiary by the Board of Directors in its discretion) or on any present or future
shares of stock or indebtedness of any Restricted Subsidiary.

6

 

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

     “Shareholders’ Interest” means as of any particular time the aggregate of capital and surplus
of the Company and its Restricted Subsidiaries, after deducting the cost of the shares of the
Company held in treasury, as shown on a consolidated balance sheet of the Company and its
Restricted Subsidiaries, prepared in accordance with generally accepted accounting principles, as
of the end of the latest fiscal year ended prior to such determination.

     “Stated Maturity” means June 24, 2015.

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

     “Tax Redemption Price” has the meaning specified in Section 10.03(b).

     “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument
until a successor Trustee shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee
hereunder.

     “Unrestricted Subsidiary” means any Subsidiary which is not a Restricted Subsidiary.

     “U.S. Government Bond Obligations” has the meaning specified in Section 12.04.

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

     “Wholly-owned Restricted Subsidiary” means a Restricted Subsidiary all of the outstanding
capital stock of which, other than directors’ qualifying shares, and all of the Funded Debt of
which, shall at the time be owned by the Company or by one or more Wholly-owned Restricted
Subsidiaries, or by the Company in conjunction with one or more Wholly-owned Restricted
Subsidiaries.

     Section 1.02.
Compliance Certificates and Opinions.

     Upon any application or request by the Company to the Trustee to take any action under any
provision of this Indenture, the Company shall furnish to the

7

 

Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for
in this Indenture relating to the proposed action have been complied with and (except in connection
with the initial issuance of the Notes) an Opinion of Counsel stating that in the opinion of such
counsel all such conditions precedent, if any, have been complied with, except that in the case of
any such application or request as to which the furnishing of such documents is specifically
required by any provision of this Indenture relating to such particular application or request, no
additional certificate or opinion need be furnished.

     Every certificate or opinion with respect to compliance with a condition or covenant provided
for in this Indenture shall include

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

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

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

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

     Section 1.03. Form of Documents Delivered to Trustee.

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

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

8

 

knows, or in the exercise of reasonable care should know, that the certificate or opinion or
representations with respect to such matters are erroneous.

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

     Section 1.04. Acts of Holders.

     (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by agent
duly appointed in writing. Any request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Indenture to be given or taken by Holders may, alternatively, be
embodied in and evidenced by the record of Holders voting in favor thereof, either in person or by
proxies duly appointed in writing, at any meeting of Holders duly called and held in accordance
with the provisions of Article 11, or a combination of such instruments and any such record.
Appointment of a proxy shall be made by signing an appointment either personally or by such
Holder’s attorney-in-fact and shall become effective when received by the Secretary of the Company
or an officer of the Company authorized to tabulate votes. Except as herein otherwise expressly
provided, such action shall become effective when such instrument or instruments or record or both
are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such
instrument or instruments and any such record (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or
instruments or so voting at any such meeting. Proof of execution of any such instrument or of a
writing appointing any such agent, or of the holding by any Person of a Note, shall be sufficient
for any purpose of this Indenture and (subject to Section 6.01) conclusive in favor of the Trustee
and the Company and any agent of the Trustee or the Company, if made in the manner provided in this
Section. The record of any meeting of Holders shall be proved in the manner provided in Section
11.06.

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

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     (c) The ownership of Notes may be proved by the production of such Notes or by a certificate
executed, as depositary, by any trust company, bank, banker or other depositary, wherever situated,
if such certificate shall be deemed by the Trustee to be satisfactory, showing that at the date
therein mentioned such Person had on deposit with such depositary, or exhibited to it, the Notes
therein described; or such facts may be proved by the certificate or affidavit of the Person
holding such Notes, if such certificate or affidavit is deemed by the Trustee to be satisfactory.
The Trustee and the Company may assume that such ownership of any Note continues until (1) another
certificate or affidavit bearing a later date issued in respect of the same Note is produced, or
(2) such Note is produced to the Trustee by some other Person, or (3) such Note is no longer
Outstanding. The ownership of Notes may also be proved in any other manner that the Trustee deems
sufficient.

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

     Section 1.05. Notices, etc., to Trustee and Company.

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

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

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

     Section 1.06. Notice to Holders; Waiver.

     Except as otherwise expressly provided herein, where this Indenture provides for notice to
Holders of any event, such notice shall be sufficiently given if published in the d’Wort (for so
long as the Notes are listed on the Luxembourg Stock Exchange and the rules of that exchange so
require) and (1) an Authorized Newspaper in London, England or (2) an electronic medium easily
accessible by the Holders as may be specified to such Holders, such publication to be not later
than the latest date, and not earlier than the earliest date, prescribed for the giving

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of such notice; provided, however, that so long as the Notes are in whole or in part in the
form of one or more Global Notes held by the Common Depositary, such notice shall be given in
writing to Euroclear and Clearstream, Luxembourg. Any published notice shall be deemed to have
been given on the date of such publication or, if published more than once, on the date of the
first such publication.

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

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

     Section 1.07. Effect of Headings and Table of Contents.

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

     Section 1.08. Successors and Assigns.

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

     Section 1.09. Separability Clause.

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

     Section 1.10. Benefits of Indenture.

     Nothing in this Indenture or in the Notes, express or implied, shall give to any Person, other
than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or
equitable right, remedy or claim under this Indenture.

     Section 1.11. Governing Law.

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

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     Section 1.12. Legal Holidays.

     In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Note
shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of
this Indenture or of the Notes) payment of interest (if any) or principal (and premium, if any)
need not be made at such Place of Payment on such date, but may be made on the next succeeding
Business Day at such Place of Payment with the same force and effect as if made on the Interest
Payment Date or Redemption Date, or at the Stated Maturity, provided that no interest shall accrue
for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as
the case may be.

     Section 1.13. Judgment Currency.

     The obligation of the Issuer in respect of any sum due pursuant to a final nonappealable
judgment in any court relating to this Indenture or the Notes (a “Judgment”) shall, notwithstanding
any Judgment in a currency other than United States dollars, not be discharged until the first
business day, following the entering of such Judgment, on which (and only to the extent that) the
Trustee may in accordance with normal banking procedures purchase United States dollars with such
other currency; if the United States dollars so purchased are less than the sum originally due
pursuant to such Judgment, the Issuer agrees, as a separate obligation and notwithstanding any such
Judgment, to indemnify the Trustee and the Holders against such loss. If the United States dollars
so purchased are greater than the sum originally due to the Trustee and the Holders pursuant to
such Judgment, the Trustee shall pay to the Issuer an amount equal to the excess of the dollars so
purchased over the sum originally due pursuant to the Judgment hereunder.

ARTICLE 2

Note Forms

     Section 2.01. Forms Generally.

     The Notes and the Trustee’s certificates of authentication shall be in substantially the form
set forth in Exhibit A hereto. The Notes may have such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture, and may have
such letters, numbers or other marks of identification and such legends or endorsements placed
thereon as may be required to comply with the rules of any securities exchange or as may,
consistently herewith, be determined by the officers executing such Notes, as evidenced by their
execution of the Notes.

     Every Global Note authenticated and delivered hereunder shall bear a legend in substantially
the form set forth in Exhibit A.

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

     Section 2.02. Notes Issuable in Global Form.

     Notwithstanding the provisions of Section 3.02, the Global Note shall represent the
Outstanding Notes and the aggregate amount of Outstanding Notes represented thereby may from time
to time be increased or decreased to reflect exchanges. Any endorsement of a Note in global form
to reflect the amount, or any increase or decrease in the amount, of Outstanding Notes represented
thereby shall be made by the Trustee in such manner and upon instructions given by such Person or
Persons as shall be specified therein or in the Company Order to be delivered to the Trustee
pursuant to Section 3.03 or 3.04. Subject to the provisions of Section 3.03 and, if applicable,
Section 3.04, the Trustee shall deliver and redeliver any Note in permanent global form in the
manner and upon instructions given by the Person or Persons specified therein or in the applicable
Company Order. If a Company Order pursuant to Section 3.03 or 3.04 has been, or simultaneously is,
delivered, any instructions by the Company with respect to endorsement, delivery or redelivery of a
Note in global form shall be in writing but need not comply with Section 1.02 and need not be
accompanied by an Opinion of Counsel.

     The provisions of the last sentence of Section 3.03 shall apply to any Note represented by a
Note in global form if such Note was never issued and sold by the Company and the Company delivers
to the Trustee the Note in global form together with written instructions (which need not comply
with Section 1.02 and need not be accompanied by an Opinion of Counsel) with regard to the
reduction in the principal amount of Notes represented thereby, together with the written statement
contemplated by the last sentence of Section 3.03.

     Notwithstanding the provisions of Section 3.06, payment of principal of (and premium, if any)
and interest, if any, on any Note in permanent global form shall be made to the Person or Persons
specified therein.

     Notwithstanding the provisions of Section 3.08 and except as provided in the preceding
paragraph, the Company, the Trustee and any agent of the Company and the Trustee shall treat as the
Holder of such principal amount of Outstanding Notes represented by a Permanent Global Note,
Euroclear or Clearstream, Luxembourg.

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ARTICLE 3

The Notes

     Section 3.01. Amount.

     The aggregate principal amount of Notes which may be authenticated and delivered under this
Indenture is €300,000,000. The terms of the Notes shall be as set forth in Article 2 above.

     Section 3.02. Denominations.

     The Notes shall be issued in bearer form without coupons in denominations of €50,000 and
integral multiples of €1,000 in excess of €50,000.

     Section 3.03. Execution, Authentication, Delivery and Dating.

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

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

     At any time after the execution and delivery of this Indenture, the Company may deliver Notes
executed by the Company to the Trustee for authentication, together with a Company Order for the
authentication and delivery of such Notes, and the Trustee in accordance with the Company Order
shall authenticate and deliver such Notes either to the Company or according to the directions
contained in the Company Order; provided, however, that, in connection with its original issuance,
no Note shall be mailed or otherwise delivered to any location in the United States.

     Each Note shall be dated the date of its authentication.

     No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for
any purpose unless there appears on such Note a certificate of authentication substantially in the
form provided for herein executed by the Trustee by manual signature, and such certificate upon any
Note shall be conclusive evidence, and the only evidence, that such Note has been duly
authenticated and delivered hereunder and is entitled to the benefits of this Indenture.

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     Section 3.04. Global Notes and Definitive Notes.

     (a) Without unnecessary delay but in any event not later than the Exchange Date (as defined
below), the Company shall deliver to the Trustee a temporary global note (the “Temporary Global
Note”). Such Temporary Global Note shall be delivered to the London office of the Common
Depository, for the benefit of Euroclear and Clearstream, Luxembourg, for credit to the respective
accounts of the beneficial owners of such Notes (or to such other accounts as they may direct).

     On and after the Exchange Date, which is the later of (i) 40 days after the Temporary Global
Note is issued and (ii) 40 days after completion of the distribution of the Notes, all or a portion
of the Temporary Global Note shall be surrendered by the Common Depository to the Trustee, as the
Company’s agent for such purpose, to be exchanged for the Permanent Global Note without charge, and
the Trustee shall authenticate and deliver, in exchange for such Temporary Global Note (or portion
thereof) and upon receipt of the Company Order described in Section 3.03, the Permanent Global Note
representing the Notes; provided, however, that each Holder that has an interest in the Temporary
Global Note (or a portion thereof to be exchanged) delivers to Euroclear or Clearstream,
Luxembourg, a certificate in the form set forth in Exhibit B-1 to this Indenture, copies of which
shall be made available from the offices of Euroclear and Clearstream, Luxembourg, the Trustee, any
Authenticating Agent appointed for such Notes and each Paying Agent, and upon such presentation by
the Common Depositary, the Temporary Global Note is accompanied by a certificate dated as of the
exchange and signed by Euroclear as to the portion of such Temporary Global Note held for its
account then to be exchanged and a certificate dated as of the exchange and signed by Clearstream,
Luxembourg as to the portion of such Temporary Global Note held for its account then to be
exchanged, each in the form set forth in Exhibit B-2 to this Indenture.

     The Permanent Global Note shall be exchangeable in whole but not, except as provided in the
paragraph below, in part for Notes in definitive form if (i) Euroclear and/or Clearstream,
Luxembourg is closed for business for a continuous period of 14 days (other than by reason of
holidays, statutory or otherwise) or announces an intention permanently to cease business or does
in fact do so, (ii) principal in respect of any Notes is not paid when due and payable, (iii) any
Holder requests such an exchange upon 45 days’ notice or (iv) the Company would suffer a material
disadvantage in respect of the Notes as a result of a change in the laws or regulations (taxation
or otherwise) of the United States which would not be suffered were the Notes in definitive form
and an Officers’ Certificate is delivered to the Trustee for display to the Holders of Notes
(unless a default notice has been delivered in accordance with Section 5.02). Thereupon, in the
case of (i) (ii) and (iii) above, the Holder may give notice to the Trustee and (in the case of
(iv) above) the Company may give notice to the Trustee and the Holders of its intention to exchange
the Permanent Global Note for Notes in definitive form on or after the Exchange Date specified in
the notice. Definitive

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Notes to be delivered in exchange for any portion of a Global Note shall be delivered only
outside the United States.

     If principal in respect of any Notes is not paid when due and payable or a Holder requests an
exchange, the holder of the Permanent Global Note may by notice to the Trustee (which may but need
not be made pursuant to Section 5.02) require the exchange of a specified principal amount of the
Permanent Global Note (which may be equal to or, with the consent of Euroclear and Clearstream,
Luxembourg, less than the outstanding principal amount of Notes represented thereby) for definitive
Notes on or after the Exchange Date specified in such notice.

     On or after any Exchange Date the holder of the Permanent Global Note may surrender the
Permanent Global Note or, in the case of a partial exchange, present it for endorsement to or to
the order of the Trustee. In exchange for the Permanent Global Note, or the part thereof to be
exchanged, the Company will deliver, or procure the delivery of, an equal aggregate principal
amount of duly executed and authenticated Notes in definitive form.

     Payments of principal and interest (if any) will be made against presentation of any Note;
provided, however, that in the case of payments to be made prior to the Exchange Date against
presentation of the Temporary Global Note by the Common Depositary, each Holder delivers to
Euroclear or Clearstream, Luxembourg, a certificate in the form set forth in Exhibit B-1 to this
Indenture, copies of which shall be made available from the offices of Euroclear and Clearstream,
Luxembourg, the Trustee, any Authenticating Agent appointed for such Notes and each Paying Agent,
and the Temporary Global Note is accompanied by a certificate signed by Euroclear dated as of the
date of presentation as to the portion of such Temporary Global Note held for its account and a
certificate signed by Clearstream, Luxembourg dated as of the date of presentation as to the
portion of such Temporary Global Note held for its account then to be exchanged, each in the form
set forth in Exhibit B-2 to this Indenture. On and after the Exchange Date, the holder of a
Temporary Global Note will not be entitled to receive any payment of interest or principal thereon
unless upon due certification exchange of the Temporary Global Note is improperly withheld or
refused.

     For so long as any of the Notes is represented by a Global Note, each person who is for the
time being shown in the records of Euroclear and/or of Clearstream, Luxembourg as the holder of a
particular nominal amount of such Notes (in which regard any certificate or other document issued
by Euroclear and/or Clearstream, Luxembourg as to the nominal amount of such Notes standing to the
account of any person shall be conclusive and binding for all purposes save in the case of manifest
error) shall be treated by the Company, the Trustee and any other Paying Agent as the holder of
such nominal amount of such Notes for all purposes other than for the payment of principal and
interest on such Notes, the right to which shall be vested, as against the Company, the Trustee and

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any other Paying Agent, solely in the bearer of the Global Note in accordance with and subject
to its terms. Notes which are represented by a Global Note shall be transferable only in
accordance with the rules and procedures for the time being of Euroclear and/or Clearstream,
Luxembourg, as the case may be.

     Section 3.05. Mutilated, Destroyed, Lost and Stolen Notes.

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

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

     In case any such mutilated, destroyed, lost or stolen Note has become or is about to become
due and payable, the Company in its discretion may, instead of issuing a new Note, pay such Note;
provided, however, that payment of principal of (and premium, if any) and interest, if any, on
Notes shall be payable only at an office or agency located outside the United States.

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

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

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

     Section 3.06. Payment of Interest; Interest Rights Preserved.

     Interest on any Note which is payable, and is punctually paid or duly provided for, on any
Interest Payment Date shall be paid to the Holder on such

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date. Payment of interest, if any, shall be made by transfer to an account maintained by the
payee with a bank located outside the United States.

     Every Permanent Global Note will provide that interest, if any, payable on any Interest
Payment Date will be paid to each of Euroclear and Clearstream, Luxembourg with respect to that
portion of such Permanent Global Note held for its account by the Common Depositary, for the
purpose of permitting each of Euroclear and Clearstream, Luxembourg to credit the interest, if any,
received by it in respect of such Permanent Global Note to the accounts of the beneficial owners
thereof.

     Section 3.07. Payment of Additional Amounts

     The Company will, subject to the exceptions and limitations set forth below, pay to a Holder,
as additional interest, such additional amounts (the “Additional Amounts”) as may be necessary in
order that every net payment by the Company or a Paying Agent of the principal of and interest on
the Notes and any other amounts payable on the Notes after withholding or deduction for or on
account of any present or future tax, assessment or governmental charge imposed or levied by the
United States or any political subdivision or taxing authority thereof or therein will not be less
than the amount provided for in the Notes to be then due and payable under the Notes.

     However, the obligation to pay Additional Amounts shall not apply:

     (a) to any present or future tax, assessment or other governmental charge that would not have
been so imposed but for

     (i) the existence of any present or former connection between the Holder (or between a
fiduciary, settlor, beneficiary, member or shareholder of the Holder, if the Holder is an
estate, a trust, a partnership, a limited liability company or a corporation) and the
United States and its possessions, including, without limitation, the Holder (or such
fiduciary, settlor, beneficiary, member or shareholder) being or having been a citizen or
resident of the United States or being or having been engaged in a trade or business or
present in the United States or having, or having had, a permanent establishment in the
United States, or

     (ii) the presentation by the Holder for payment with respect to the Notes on a date
more than 30 days after the date on which payment became due and payable or the date on
which payment thereof is duly provided for, whichever occurs later;

     (b) to any estate, inheritance, gift, sales, transfer, capital gains, excise or personal
property tax or any similar tax, assessment or governmental charge;

     (c) to any tax, assessment or other governmental charge imposed by reason of the Holder’s past
or present status as a personal holding company or

18

 

foreign personal holding company or controlled foreign corporation or passive foreign
investment company with respect to the United States or as a corporation that accumulates earnings
to avoid United States federal income tax or as a private foundation or other tax-exempt
organization;

     (d) to any tax, assessment or other governmental charge that is payable otherwise than by
withholding or deduction from payments on or in respect of any Notes;

     (e) to any tax, assessment or other governmental charge that would not have been imposed but
for the failure to comply with certification, information or other reporting requirements
concerning the nationality, residence or identity of the Holder or beneficial owner of that Note,
if compliance is required by statute or by regulation of the United States or of any political
subdivision or taxing authority thereof or therein as a precondition to relief or exemption from
the tax, assessment or other governmental charge;

     (f) to any tax, assessment or other governmental charge imposed by reason of the Holder’s past
or present status as the actual or constructive owner of 10% or more of the total combined voting
power of all classes of stock entitled to vote of the Company or as a direct or indirect subsidiary
of the Company;

     (g) to any withholding or deduction that is imposed on a payment to an individual and that is
required to be made pursuant to any law implementing or complying with, or introduced in order to
conform to, any European Union Directive on the taxation of savings;

     (h) if presentation for payment had been made at a different paying agent; or

     (i) in the case of a combination of (a), (b), (c), (d), (e), (f), (g) or (h) listed above.

     Nor will Additional Amounts be paid with respect to any payment on a Note to a Holder who is a
fiduciary, a partnership, a limited liability company, or other than the sole beneficial owner of
that payment to the extent that payment would be required by the laws of the United States (or any
political subdivision thereof) to be included in the income, for tax purposes, of a beneficiary or
settlor with respect to the fiduciary, a member of that partnership, an interestholder of that
limited liability company, or a beneficial owner who would not have been entitled to the Additional
Amounts had that beneficiary, settlor, member or beneficial owner been the Holder.

     Section 3.08. Persons Deemed Owners.

     Title to any Note shall pass by delivery. The Company, the Trustee and any agent of the
Company or the Trustee may treat the bearer of any Note as the absolute owner of such Note for the
purpose of receiving payment of principal of

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(and premium, if any) and interest (if any) on such Note and for all other purposes
whatsoever, whether or not such Note be overdue, and neither the Company, the Trustee nor any agent
of the Company or the Trustee shall be affected by notice to the contrary.

     None of the Company, the Trustee or any Paying Agent will have any responsibility or liability
for any aspect of the records relating to or payments made on account of beneficial ownership
interests of a Note in global form or for maintaining, supervising or reviewing any records
relating to such beneficial ownership interests.

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

     Section 3.09. Cancellation.

     All Notes surrendered for payment or redemption shall, if surrendered to any Person other than
the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at
any time deliver to the Trustee for cancellation any Notes previously authenticated and delivered
hereunder which the Company may have acquired in any manner whatsoever, and all Notes so delivered
shall be promptly cancelled by the Trustee. No Notes shall be authenticated in lieu of any Notes
cancelled as provided in this Section, except as expressly permitted by this Indenture. All
cancelled Notes held by the Trustee shall be disposed of as directed by a Company Order though in
no event shall Trustee be under any obligation to destroy any Notes.

     Section 3.10. Computation of Interest.

     Interest on the Notes shall be payable annually in arrears on each Interest Payment Date.

     Section 3.11. CUSIP/ISIN Numbers.

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

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any defect in or omission of such numbers. The Company will promptly notify the Trustee in
writing of any change in the “CUSIP” or “ISIN” numbers.

ARTICLE 4

Satisfaction and Discharge

     Section 4.01. Satisfaction and Discharge of Indenture.

     This Indenture shall upon Company Request cease to be of further effect, and the Trustee, at
the expense of the Company, shall execute proper instruments acknowledging satisfaction and
discharge of this Indenture, when

     (a) either

     (i) all Notes theretofore authenticated and delivered (other than (A) Notes which
have been destroyed, lost or stolen and which have been replaced or paid as provided in
Section 3.05 and (B) Notes for whose payment money has theretofore been deposited in trust
or segregated and held in trust by the Company and thereafter repaid to the Company or
discharged from such trust, as provided in Section 9.03) have been delivered to the
Trustee for cancellation; or

     (ii) all such Notes not theretofore delivered to the Trustee for cancellation

     (A) have become due and payable, or

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

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

and the Company, in the case of (A), (B) or (C) above, has deposited or caused to
be deposited with the Trustee as trust funds in trust for the purpose an amount
sufficient to pay and discharge the entire indebtedness on such Notes not
theretofore delivered to the Trustee for cancellation, for principal (and
premium, if any) and interest (if any) to the date of such deposit (in the case
of Notes which have become due and payable) or to the Stated Maturity or
Redemption Date, as the case may be;

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

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

     Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the
Company to the Trustee under Section 6.07 and, if money shall have been deposited with the Trustee
pursuant to subclause (B) of clause (i) of this Section, the obligations of the Trustee under
Section 4.02 and the last paragraph of Section 9.03 shall survive such satisfaction and discharge.

     Section 4.02. Application of Trust Money.

     Subject to the provisions of the last paragraph of Section 9.03, all money deposited with the
Trustee pursuant to Section 4.01 shall be held in trust and applied by it, in accordance with the
provisions of the Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the
Persons entitled thereto, of the principal (and premium, if any) and interest (if any) for whose
payment such money has been deposited with the Trustee.

ARTICLE 5

Remedies

     Section 5.01. Events of Default.

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

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

     (b) default in the payment of the principal of (or premium, if any, on) any Note at its
Maturity; or

     (c) default in the performance, or breach, of any covenant or warranty of the Company in this
Indenture (other than a covenant or warranty a default in whose performance or whose breach is
elsewhere in this Section specifically dealt with), and continuance of such default or breach for a
period of 60 days after there has been given, by registered or certified mail, to the Company by
the Trustee or to the Company and the Trustee by the Holders of at least 10% in principal amount of
the Outstanding Notes a written notice specifying such default or

22

 

breach and requiring it to be remedied and stating that such notice is a “Notice of Default”
hereunder; or

     (d) a default under any bond, debenture, note or other evidence of indebtedness for money
borrowed by the Company (including a default with respect to securities of any series other than
the Notes) or under any mortgage, indenture or instrument under which there may be issued or by
which there may be secured or evidenced any indebtedness for money borrowed by the Company
(including this Indenture), whether such indebtedness now exists or shall hereafter be created,
which default shall have resulted in more than $10,000,000 principal amount of such indebtedness
becoming or being declared due and payable prior to the date on which it would otherwise have
become due and payable, without such acceleration having been rescinded or annulled within a period
of 10 days after there shall have been given, by registered or certified mail, to the Company by
the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of
the Outstanding Notes, a written notice specifying such default and requiring the Company to cause
such acceleration to be rescinded or annulled and stating that such notice is a “Notice of Default”
hereunder; or

     (e) the entry by a court having jurisdiction in the premises of (A) a decree or order for
relief in respect of the Company in an involuntary case or proceeding under any applicable Federal
or State bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order
adjudging the Company bankrupt or insolvent, or approving as properly filed a petition seeking
reorganization, arrangement, adjustment or composition of or in respect of the Company under any
applicable Federal or State law, or appointing a custodian, receiver, liquidator, assignee,
trustee, sequestrator or other similar official of the Company 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 for relief or any such other decree or order unstayed and in effect for a period of
90 consecutive days; or

     (f) the commencement by the Company of a voluntary case or proceeding under any applicable
Federal or State bankruptcy, insolvency, reorganization or other similar law or of any other case
or proceeding to be adjudicated bankrupt or insolvent, or the consent by it to the entry of a
decree or order for relief in respect of the Company in an involuntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the
commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of
a petition or answer or consent seeking reorganization or relief under any applicable Federal or
State law, or the consent by it to the filing of such petition or to the appointment of or taking
possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or similar
official of the Company 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, or the taking of corporate action by the Company in
furtherance of any such action.

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     Section 5.02. Acceleration of Maturity; Rescission and Annulment.

     If an Event of Default with respect to any Notes at the time Outstanding occurs and is
continuing, then in every such case the Trustee or the Holders of not less than 25% in principal
amount of the Outstanding Notes may declare the principal amount of all of the Notes to be due and
payable immediately, by a notice in writing to the Company (and to the Trustee if given by
Holders), and upon any such declaration such principal amount shall become immediately due and
payable.

     At any time after such a declaration of acceleration with respect to the Notes has been made
and before a judgment or decree for payment of the money due has been obtained by the Trustee as
hereinafter in this Article provided, the Holders of a majority in principal amount of the
Outstanding Notes, by written notice to the Company and the Trustee, may rescind and annul such
declaration and its consequences if

     (a) the Company has paid or deposited with the Trustee a sum sufficient to pay

     (i) all overdue interest on all Notes,

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

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

     (iv) all sums paid or advanced by the Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel;

and

     (b) all Events of Default with respect to the Notes, other than the non-payment of the
principal of the Notes which have become due solely by such declaration of acceleration, have been
cured or waived as provided in Section 5.12.

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

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     Section 5.03. Collection of Indebtedness and Suits for Enforcement by Trustee.

     The Company covenants that if

     (a) default is made in the payment of any interest on any Note when such interest becomes due
and payable and such default continues for a period of 30 days, or

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

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

     If the Company fails to pay such amounts forthwith upon such demand, the Trustee, in its own
name and as trustee of an express trust, may institute a judicial proceeding for the collection of
the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may
enforce the same against the Company or any other obligor upon such Notes and collect the moneys
adjudged or decreed to be payable in the manner provided by law out of the property of the Company
or any other obligor upon such Notes, wherever situated.

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

     Section 5.04. Trustee May File Proofs of Claim.

     In case of the pendency of any receivership, insolvency, liquidation, bankruptcy,
reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the
Company or any other obligor upon the Notes or the property of the Company or of such other obligor
or their creditors, the Trustee (irrespective of whether the principal of the Notes shall then be
due and payable as therein expressed or by declaration or otherwise and irrespective of

25

 

whether the Trustee shall have made any demand on the Company for the payment of overdue
principal or interest) shall be entitled and empowered, by intervention in such proceeding or
otherwise,

     (a) to file and prove a claim for the whole amount of principal (and premium, if any) and
interest owing and unpaid in respect of the Notes and to file such other papers or documents as may
be necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents 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;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official
in any such judicial proceeding is hereby authorized by each Holder to make such payments to the
Trustee and, in the event that the Trustee shall consent to the making of such payments directly to
the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 6.07.

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

     Section 5.05. Trustee May Enforce Claims Without Possession of Notes.

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

     Section 5.06. Application of Money Collected.

     Any money collected by the Trustee pursuant to this Article shall be applied in the following
order, at the date or dates fixed by the Trustee and; in case of the distribution of such money on
account of principal (or premium, if any) or interest (if any) upon presentation of the Notes and
the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid:

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FIRST: To the payment of all amounts due the Trustee under Section 6.07;

SECOND: To the payment of the amounts then due and unpaid for principal of (and premium,
if any) and interest (if any) on the Notes in respect of which or for the benefit of which
such money has been collected, ratably, without preference or priority of any kind,
according to the amounts due and payable on such Notes for principal (and premium, if any)
and interest (if any), respectively; and

THIRD: To the Company.

Section 5.07. Limitation on Suits.

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

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

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

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

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

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

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

     Section 5.08. Restoration of Rights and Remedies.

     If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy
under this Indenture and such proceeding has been discontinued

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

     Section 5.09. Rights and Remedies Cumulative.

     Except as otherwise provided with respect to the replacement or payment of mutilated,
destroyed, lost or stolen Notes in the last paragraph of Section 3.05, no right or remedy herein
conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any
other right or remedy, and every right and remedy shall, to the extent permitted by law, be
cumulative and in addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any right or remedy
hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.

     Section 5.10. Delay or Omission Not Waiver.

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

     Section 5.11. Control by Holders.

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

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

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

     Section 5.12. Waiver of Past Defaults.

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

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     (a) in the payment of the principal of (or premium, if any) or interest (if any) on any Note,
or

     (b) in respect of a covenant or provision hereof which under Article 8 cannot be modified or
amended without the consent of the Holders of not less than 75% in principal amount of the
Outstanding Notes, which may only be waived with the consent of the Holders of not less than 75% in
principal amount of the Outstanding Notes.

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

     Section 5.13. Undertaking for Costs.

     All parties to this Indenture agree, and each Holder of any Note by his acceptance thereof
shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit
of an undertaking to pay the costs of such suit, and that such court may in its discretion assess
reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in
such suit, having due regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this Section shall not apply to any suit instituted by the
Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of
Holders, holding in the aggregate more than 10% in principal amount of the Outstanding Notes, or to
any suit instituted by any Holder for the enforcement of the payment of the principal of (or
premium, if any) or interest (if any) on any Note on or after the Stated Maturity (or, in the case
of redemption, on or after the Redemption Date).

     Section 5.14. Waiver of Stay or Extension Laws.

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

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ARTICLE 6

The Trustee

Section 6.01. Certain Duties and Responsibilities.

     (a) Except during the continuance of an Event of Default,

     (i) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture, and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and

     (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as
to the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture; but in the case of any such certificates or opinions which by any
provision hereof are specifically required to be furnished to the Trustee, the Trustee
shall be under a duty to examine the same to determine whether or not they conform to the
requirements of this Indenture (but need not confirm or investigate the accuracy of
mathematical calculations or other facts stated therein).

     (b) In case an Event of Default has occurred and is continuing, the Trustee shall exercise
such of the rights and powers vested in it by this Indenture, and use the same degree of care and
skill in their exercise, as a prudent man would exercise or use under the circumstances in the
conduct of his own affairs.

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

     (i) this Subsection shall not be construed to limit the effect of Subsection (a) of
this Section;

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

     (iii) the 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 a majority
in principal amount of the Outstanding Notes, determined as provided in Section 5.11,
relating to the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred upon the Trustee,
under this Indenture with respect to the Notes; and

30

 

     (iv) no provision of this Indenture shall require the Trustee to expend or risk its
own funds or otherwise incur any financial liability in the performance of any of its
duties hereunder, or in the exercise of any of its rights or powers, if it shall have
reasonable grounds for believing that repayment of such funds or adequate indemnity
against such risk or liability is not reasonably assured to it.

     (d) Whether or not therein expressly so provided, every provision of this Indenture relating
to the conduct or affecting the liability of or affording protection to the Trustee shall be
subject to the provisions of this Section.

     Section 6.02. Notice of Defaults.

     Within 90 days after the occurrence of any default hereunder with respect to the Notes, the
Trustee shall give to all Holders, in the manner provided by Section 1.06,, notice of such default
hereunder known to the Trustee, unless such default shall have been cured or waived; provided,
however, that, except in the case of a default in the payment of the principal of (or premium, if
any) or interest (if any) on any Note, the Trustee shall be protected in withholding such notice if
and so long as the board of directors, the executive committee or a trust committee of directors or
Responsible Officers of the Trustee in good faith determine that the withholding of such notice is
in the interest of the Holders; and provided, further, that in the case of any default of the
character specified in Section 5.01(c) with respect to such Notes, no such notice to Holders shall
be given until at least 60 days after the occurrence thereof. For the purpose of this Section, the
term “default” means any event which is, or after notice or lapse of time or both would become, an
Event of Default with respect to such Notes.

     Section 6.03. Certain Rights of Trustee.

     Subject to the provisions of Section 6.01.

     (a) the Trustee may conclusively rely and shall be fully protected in acting or refraining
from acting upon any resolution, certificate, statement, instrument, opinion, report, notice,
request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other
paper or document (whether in original or facsimile form) believed by it to be genuine and to have
been signed or presented by the proper party or parties;

     (b) any request or direction of the Company mentioned herein shall be sufficiently evidenced
by a Company Request or Company Order and any resolution of the Board of Directors may be
sufficiently evidenced by a Board Resolution;

     (c) whenever in the administration of this Indenture the Trustee shall deem it desirable that
a matter be proved or established prior to taking, suffering or omitting any action hereunder, the
Trustee (unless other evidence be herein

31

 

specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officers’
Certificate;

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

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

     (f) the Trustee shall not be bound to make any investigation into the facts or matters stated
in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document,
but the Trustee, in its discretion, may make such further inquiry or investigation into such facts
or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall be entitled to examine the books, records and premises of the Company,
personally or by agent or attorney at the expense of the Company and shall incur no liability of
any kind by reason of such inquiry or investigation; and

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

     (h) in no event shall the Trustee be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action;

     (i) the Trustee shall not be deemed to have notice of any Default or Event of Default unless a
Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any
event which is in fact such a default is received by the Trustee at the Corporate Trust Office of
the Trustee, and such notice references the Notes and this Indenture; and

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

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     Section 6.04.  Not Responsible for Recitals or Issuance of Notes.

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

     Section 6.05.  May Hold Notes.

     The Trustee, any Paying Agent or any other agent of the Company, in its individual or any
other capacity, may become the owner or pledgee of Notes and may otherwise deal with the Company
with the same rights it would have if it were not Trustee, Paying Agent or such other agent.

     Section 6.06.  Money Held in Trust.

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

     Section 6.07.  Compensation and Reimbursement.

     The Company agrees:

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

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

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

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     The benefits of this Section shall survive termination of this Indenture and resignation or
removal of the Trustee.

     Section 6.08.  Corporate Trustee Required; Eligibility.

     There shall at all times be a Trustee hereunder which shall be a corporation organized and
doing business under the laws of the United States of America or the European Union, any State
thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers,
having a combined capital and surplus of at least $5,000,000 subject to supervision or examination
by Federal or State authority. If such corporation publishes reports of condition at least
annually, pursuant to law or to the requirements of said supervising or examining authority, then
for the purposes of this Section, the combined capital and surplus of such corporation shall be
deemed to be its combined capital and surplus as set forth in its most recent report of condition
so published. If at any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.

     Section 6.09.  Resignation and Removal; Appointment of Successor.

     (a) No resignation or removal of the Trustee and no appointment of a successor Trustee
pursuant to this Article shall become effective until the acceptance of appointment by the
successor Trustee in accordance with the applicable requirements of Section 6.10.

     (b) The Trustee may resign at any time by giving written notice thereof to the Company. If the
instrument of acceptance by a successor Trustee required by Section 6.10 shall not have been
delivered to the Trustee within 30 days after the giving of such notice of resignation, the
resigning Trustee may petition at the expense of the Company any court of competent jurisdiction
for the appointment of a successor Trustee.

     (c) The Trustee may be removed at any time by Act of the Holders of a majority in principal
amount of the Outstanding Notes, delivered to the Trustee and to the Company. If no successor
Trustee shall have been appointed and have accepted appointment within 30 days after the giving of
such notice of removal, the Trustee so removed may petition at the expense of the Company any court
of competent jurisdiction for the appointment of a successor Trustee.

     (d) If at any time:

     (i) the Trustee shall cease to be eligible under Section 6.08 and shall fail to
resign after written request therefor by the Company or by any such Holder, or

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

then, in any such case, (i) the Company by a Board Resolution may remove the Trustee, or (ii)
subject to Section 5.13, any Holder who has been a bona fide Holder of a Note for at least six
months may, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee or Trustees.

     (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of Trustee for any cause, the Company, by a Board Resolution, shall
promptly appoint a successor Trustee or Trustees (it being understood that at any time there shall
be only one Trustee with respect to the Notes) and shall comply with the applicable requirements of
Section 6.10. If, within one year after such resignation, removal or incapability, or the
occurrence of such vacancy, a successor Trustee shall be appointed by Act of the Holders of a
majority in principal amount of the Outstanding Notes delivered to the Company and the retiring
Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such
appointment in accordance with the applicable requirements of Section 6.10, become the successor
Trustee and to that extent supersede the successor Trustee appointed by the Company. If no
successor Trustee shall have been so appointed by the Company or the Holders and accepted
appointment in the manner required by Section 6.10, any Holder who has been a bona fide Holder of a
Note for at least six months may, on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the appointment of a successor Trustee.

     (f) The Company shall give notice of each resignation and each removal of the Trustee and each
appointment of a successor Trustee in the manner provided by Section 1.06. Each notice shall
include the name of the successor Trustee and the address of its Corporate Trust Office.

     Section 6.10.  Acceptance of Appointment by Successor.

     (a) Every successor Trustee so appointed shall execute, acknowledge and deliver to the Company
and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation
or removal of the retiring Trustee shall become effective and such successor Trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties
of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring
Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such
successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign,
transfer and

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deliver to such successor Trustee all property and money held by such retiring Trustee
hereunder.

     (b) Upon request of any such successor Trustee, the Company shall execute any and all
instruments for more fully and certainly vesting in and confirming to such successor Trustee all
such rights, powers and trusts referred to in Subsection (a) of this Section.

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

     Section 6.11.  Merger, Conversion, Consolidation or Succession to Business.

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

ARTICLE 7

Consolidation, Merger, Conveyance, Transfer or Lease

     Section 7.01.  Company May Consolidate, etc., Only on Certain Terms.

     The Company shall not consolidate with or merge into any other corporation or convey, transfer
or lease its properties and assets substantially as an entirety to any Person, and the Company
shall not permit any Person to consolidate with or merge into the Company or convey, transfer or
lease its properties and assets substantially as an entirety to the Company, unless:

     (a) in case the Company shall consolidate with or merge into another corporation or convey,
transfer or lease its properties and assets substantially as an entirety to any Person, the
corporation formed by such consolidation or into which the Company is merged or the Person which
acquires by conveyance or transfer or which leases the properties and assets of the Company
substantially as an entirety shall be a corporation organized and existing under the laws of the
United States of America, any State thereof or the District of Columbia and shall

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expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee,
in form satisfactory to the Trustee, the due and punctual payment of the principal of (and premium,
if any) and interest (if any) on all the Notes and the performance of every covenant of this
Indenture on the part of the Company to be performed or observed;

     (b) immediately after giving effect to such transaction and treating any indebtedness which
becomes an obligation of the Company or a Subsidiary as a result of such transaction as having been
incurred by the Company or such Subsidiary at the time of such transaction, no Event of Default,
and no event which, after notice or lapse of time or both, would become an Event of Default, shall
have happened and be continuing;

     (c) if, as a result of any such consolidation or merger or such conveyance, transfer or lease,
properties or assets of the Company would become subject to a mortgage, pledge, lien, security
interest or other encumbrance which would not be permitted by this Indenture, the Company or such
successor corporation or Person, as the case may be, shall take such steps as shall be necessary
effectively to secure the Notes equally and ratably with (or prior to) all indebtedness secured
thereby; and

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

     Section 7.02.  Successor Corporation Substituted.

     Upon any consolidation by the Company with or merger by the Company into any other corporation
or any conveyance, transfer or lease of the properties and assets of the Company substantially as
an entirety in accordance with Section 7.01, the successor corporation formed by such consolidation
or into which the Company is merged or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Company under
this Indenture with the same effect as if such successor corporation had been named as the Company
herein, and thereafter, except in the case of a lease, the predecessor corporation shall be
relieved of all obligations and covenants under this Indenture and the Notes.

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ARTICLE 8

Supplemental Indentures

     Section 8.01.  Supplemental Indentures Without Consent of Holders.

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

     (a) to evidence the succession of another corporation to the Company and the assumption by any
such successor of the covenants of the Company herein and in the Notes; or

     (b) to add to the covenants of the Company for the benefit of the Holders or to surrender any
right or power herein conferred upon the Company; or

     (c) to add any additional Events of Default; or

     (d) to add to or to change any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the issuance of Notes in bearer form without interest coupons; or

     (e) to change or eliminate any of the provisions of this Indenture, provided that any such
change or elimination shall become effective only when there is no Note Outstanding created prior
to the execution of such supplemental indenture which is entitled to the benefit of such
provisions; or

     (f) to secure the Notes pursuant to the requirements of Sections 9.04 and 9.05 or otherwise;
or

     (g) to evidence and provide for the acceptance of appointment hereunder by a successor
Trustee; or

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

     Section 8.02.  Supplemental Indentures with Consent of Holders.

     With the consent of the Holders of not less than a majority in principal amount of the
Outstanding Notes by Act of said Holders delivered to the Company and the Trustee, the Company,
when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to or changing in any manner or
eliminating

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any of the provisions of this Indenture or of modifying in any manner the rights of the
Holders under this Indenture; provided, however, that no such supplemental indenture shall, without
the consent of the Holders of not less than 75% in principal amount of the Outstanding Notes,

     (a) change the Stated Maturity or any Interest Payment Date, or reduce the principal amount of
any Note or the rate of interest thereon or any premium payable upon the redemption thereof, or
change any Place of Payment where, or the coin or currency in which, any Note or any premium or the
interest thereon is payable, or impair the right to institute suit for the enforcement of any such
payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the
Redemption Date); or

     (b) reduce the percentage in principal amount of the Outstanding Notes, the consent of whose
Holders is required for any such supplemental indenture, or the consent of whose Holders is
required for any waiver (of compliance with certain provisions of this Indenture or certain
defaults hereunder and their consequences) provided for in this Indenture; or

     (c) modify any of the provisions of this Section, Section 5.12 or Section 9.10, except to
increase any such percentage or to provide that certain other provisions of this Indenture cannot
be modified or waived without the consent of Holders of not less than 75% in principal amount of
the Outstanding Notes; provided, however, that this clause shall not be deemed to require the
consent of any Holder with respect to changes in the references to “the Trustee” and concomitant
changes in this Section and Section 9.10, or the deletion of this proviso, in accordance with the
requirements of Section 6.10(b) and 8.01(g).

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

     Section 8.03.  Execution of Supplemental Indentures.

     In executing, or accepting the additional trusts created by, any supplemental indenture
permitted by this Article or the modifications thereby of the trusts created by this Indenture, the
Trustee shall be provided with, and (subject to Section 6.01) shall be fully protected in relying
upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized
or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such
supplemental indenture which affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise.

     Section 8.04.  Effect of Supplemental Indentures.

     Upon the execution of any supplemental indenture under this Article, this Indenture shall be
modified in accordance therewith, and such supplemental

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indenture shall form a part of this Indenture for all purposes; and every Holder of Notes
theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.

     Section 8.05.  Reference in Notes to Supplemental Indentures.

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

ARTICLE 9

Covenants

     Section 9.01.  Payment of Principal, Premium and Interest.

     The Company covenants and agrees for the benefit of the Notes that it will duly and punctually
pay the principal of (and premium, if any) and interest (if any) on the Notes in accordance with
the terms of the Notes and this Indenture.

     Section 9.02.  Maintenance of Office or Agency.

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

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

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     Section 9.03.  Money for Notes Payments to be Held in Trust.

     If the Company shall at any time act as its own Paying Agent with respect to the Notes, it
will, on or before each due date of the principal of (and premium, if any) or interest (if any) on
any of the Notes, segregate and hold in trust for the benefit of the Persons entitled thereto a sum
sufficient to pay the principal (and premium, if any) or interest (if any) so becoming due until
such sums shall be paid to such Persons or otherwise disposed of as herein provided and will
promptly notify the Trustee of its action or failure so to act.

     Whenever the Company shall have one or more Paying Agents for the Notes, it will, prior to
each due date of the principal of (and premium, if any) or interest (if any) on the Notes, deposit
with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest (if
any) so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such
principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of its action or failure so to act.

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

     (a) hold all sums held by it for the payment of the principal of (and premium, if any) or
interest (if any) on the Notes in trust for the benefit of the Persons entitled thereto until such
sums shall be paid to such Persons or otherwise disposed of as herein provided;

     (b) give the Trustee notice of any default by the Company (or any other obligor upon the
Notes) in the making of any payment of principal (and premium, if any) or interest (if any) on the
Notes; and

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

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

     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of (and premium, if any)

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or interest (if any) on any Note and remaining unclaimed for two years after such principal
(and premium, if any) or interest (if any) has become due and payable shall be paid to the Company
on Company Request, or (if then held by the Company) shall be discharged from such trust; and the
Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Company
for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such
trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided,
however, that the Trustee or such Paying Agent, before being required to make any such repayment,
may at the expense of the Company, provide notice in the manner provided by Section 1.06 that such
money remains unclaimed and that, after a date specified therein, which shall not be less than 30
days from the date of such publication, any unclaimed balance of such money then remaining will be
repaid to the Company.

     Section 9.04.  Limitation on Secured Debt.

     The provisions of this Section and Section 9.05 shall apply so long as any Notes are
Outstanding.

     The Company covenants and agrees that it will not itself, and will not permit any Restricted
Subsidiary to, issue, assume, guarantee or incur any Secured Debt, without effectively providing
that the Notes (together with, if the Company shall so determine, any other indebtedness of the
Company or such Restricted Subsidiary then existing or thereafter created ranking equally with the
Notes, including guaranty of indebtedness of others) shall be secured equally and ratably with (or
prior to) such Secured Debt, so long as such Secured Debt shall be so secured, except that this
Section 9.04 shall not apply to Secured Debt secured by:

     (a) mortgages on property of any corporation existing at the time such corporation becomes a
Subsidiary;

     (b) mortgages on property existing at the time of acquisition thereof or to secure the payment
of all or any part of the purchase price thereof or to secure any indebtedness incurred prior to,
at the time of or within 90 days after the acquisition of such property for the purpose of
financing all or any part of the purchase price thereof;

     (c) mortgages on particular property to secure indebtedness incurred in financing all or any
part of the cost of exploration or development of such property, or to secure all or any part of
the cost of improvements to such property which is, in the opinion of the Board of Directors,
substantially unimproved, or to secure any indebtedness incurred to provide funds for such purpose;

     (d) mortgages on property in favor of the United States of America or any State thereof, or
any other country, or any political subdivision of any of the foregoing, to secure payments
pursuant to any contract or statute or to secure any

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indebtedness incurred for the purpose of financing all or any part of the purchase price or
the cost of construction of the property subject to such mortgages;

     (e) mortgages which secure indebtedness owing to the Company or to a Wholly-owned Restricted
Subsidiary by a Subsidiary; and

     (f) any extension, renewal or replacement (or successive extensions, renewals or
replacements), in whole or in part, of any mortgage referred to in the foregoing clauses (a) to
(e), inclusive, or of any indebtedness secured thereby; provided that such extension, renewal or
replacement mortgage shall be limited to all or any part of the same property that secured the
mortgage extended, renewed or replaced (plus improvements on such property).

     As used in clauses (a) through (f) above, the terms “mortgage” or “mortgages” shall include
pledges, liens, and security interests.

     Notwithstanding the foregoing provisions of this Section 9.04, the Company and any one or more
Restricted Subsidiaries may, without equally and ratably securing the Notes, issue, assume,
guarantee or incur Secured Debt which would otherwise be subject to the foregoing restrictions if,
after giving effect to the Secured Debt to be issued, assumed, guaranteed or incurred, the sum of
(i) the aggregate amount of all such Secured Debt of the Company and its Restricted Subsidiaries
(not including Secured Debt permitted under clauses (a) through (f) above) and (ii) the aggregate
value of the Sale and Leaseback Transactions (as defined in Section 9.05) in existence at such time
(except Sale and Leaseback Transactions the proceeds of which have been applied in accordance with
Section 9.05(a)(ii)) does not exceed 5% of the Shareholders’ Interest.

     Section 9.05.  Limitation on Sale and Leaseback Transactions and Transfers of Assets to
Unrestricted Subsidiaries.

     (a) The Company will not itself, and will not permit any Restricted Subsidiary to, enter into
any arrangement with any bank, insurance company or other lender or investor, or to which any such
lender or investor is a party, providing for the leasing to the Company or a Restricted Subsidiary
of any real property (except a lease for a temporary period not to exceed three years by the end of
which it is intended that the use of such real property by the lessee will be discontinued) which
has been or is to be sold or transferred by the Company or such Restricted Subsidiary to such
lender or investor or to any person to whom funds have been or are to be advanced by such lender or
investor on the security of such real property (herein referred to as a “Sale and Leaseback
Transaction”) unless either:

     (i) the Company or such Restricted Subsidiary could create Secured Debt secured by a
mortgage, in accordance with Section 9.04, on the real property to be leased, in an amount
equal to the value of such Sale

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and Leaseback Transaction, without equally and ratably securing the Notes, or

     (ii) the Company (and in any such case the Company covenants that it will) within 120
days after the Sale and Leaseback Transaction, regardless of whether such Sale and
Leaseback Transaction may have been made by the Company or by a Restricted Subsidiary,
applies an amount equal to the greater of (A) the net proceeds of the sale of the real
property leased pursuant to such Sale and Leaseback Transaction and (B) the fair value of
the real property so leased at the time of entering into such Sale and Leaseback
Transaction (as determined by the Board of Directors) to the retirement of Funded Debt of
the Company; provided, that the amount to be applied to the retirement of Funded Debt of
the Company shall be reduced by

     (A) the principal amount of any Notes delivered within 120 days after such
sale to the Trustee for retirement and cancellation, and

     (B) the principal amount of Funded Debt, other than such Notes, voluntarily
retired by the Company within 120 days after such sale;

provided, that no retirement referred to in this clause (ii) may be effected by payment at
maturity.

     For purposes of this Section 9.05 and Section 9.04, the term “value” shall mean, with respect
to a Sale and Leaseback Transaction, as of any particular time, the amount equal to the greater of
(i) the net proceeds of the sale of the real property leased pursuant to such Sale and Leaseback
Transaction and (ii) the fair value of the real property so leased at the time of entering into
such Sale and Leaseback Transaction (as determined by the Board of Directors), divided first by the
number of full years in the term of the lease and then multiplied by the number of full years of
such term remaining at the time of determination, without regard to any renewal or extension
options contained in the lease.

     (b) The Company will not itself, and will not permit any Restricted Subsidiary to, transfer
any assets which, in the opinion of the Board of Directors, constitute a major manufacturing or
research property, plant or facility of the Company and its Restricted Subsidiaries, taken as a
whole, to any Unrestricted Subsidiary.

     Section 9.06.  Corporate Existence.

     Subject to Article 7, the Company will do or cause to be done all things necessary to preserve
and keep in full force and effect its corporate existence, rights (charter and statutory) and
franchises; provided, however, that the Company

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shall not be required to preserve any such right or franchise if the Board of Directors shall
determine that the preservation thereof is no longer desirable in the conduct of the business of
the Company and that the loss thereof is not disadvantageous in any material respect to the
Holders.

     Section 9.07.  Maintenance of Properties.

     The Company will cause all properties used or useful in the conduct of its business or the
business of any Subsidiary to be maintained and kept in good condition, repair and working order
and supplied with all necessary equipment and will cause to be made all necessary repairs,
renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company
may be necessary so that the business carried on in connection therewith may be properly and
advantageously conducted at all times; provided, however, that nothing in this Section shall
prevent the Company from discontinuing the operation or maintenance of any of such properties if
such discontinuance is, in the judgment of the Company, desirable in the conduct of its business or
the business of any Subsidiary and not disadvantageous in any material respect to the Holders.

     Section 9.08.  Payment of Taxes and Other Claims.

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

     Section 9.09.  Statement by Officers as to Default.

     The Company will deliver to the Trustee, within 120 days after the end of each fiscal year of
the Company ending after the date hereof, an Officers’ Certificate, stating whether or not to the
best knowledge of the signers thereof the Company is in default in the performance and observance
of any of the terms, provisions and conditions of Sections 9.01 to 9.08, inclusive, and if the
Company shall be in default, specifying all such defaults and the nature and status thereof of
which they may have knowledge.

     The Company shall deliver to the Trustee, as soon as possible and in any event within 30 days
after the Company becomes aware of the occurrence of any Event of Default or an event which, with
notice or the lapse of time or both, would constitute an Event of Default, an Officers’ Certificate
setting forth the

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details of such Event of Default or default and the action which the Company proposes to take
with respect thereto.

     Section 9.10. Waiver of Certain Covenants.

     The Company may omit in any particular instance to comply with any term, provision or
condition set forth in Sections Section 9.02 to 9.08, inclusive, with respect to the Notes if
before the time for such compliance the Holders of at least a majority in principal amount of the
Outstanding Notes shall, by Act of such Holders, either waive such compliance in such instance or
generally waive compliance with such term, provision or condition, but no such waiver shall extend
to or affect such term, provision or condition except to the extent so expressly waived, and, until
such waiver shall become effective, the obligations of the Company and the duties of the Trustee in
respect of any such term, provision or condition shall remain in full force and effect.

ARTICLE 10

Redemption

     Section 10.01.  Applicability of Article.

     The Notes shall be redeemable in accordance with their terms and in accordance with this
Article.

     Section 10.02. Election to Redeem; Notice to Trustee.

     The Notes may be redeemed, at the Company’s option (the “Call Option”), in whole or in part,
at any time prior to the Stated Maturity at the Early Redemption Amount plus the Make Whole Premium
(the “Redemption Price”). The Company shall, not less than 45 nor more than 60 days prior to the
Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the
Trustee), notify the Trustee of such Redemption Date and of the principal amount of Notes to be
redeemed.

     Section 10.03. Redemption for Tax Reasons.

     Notes may be redeemed at the option of the Company, in whole but not in part, at any time
prior to the Stated Maturity, upon the giving of a notice of tax redemption to the Holders, if the
Company determines that, as a result of:

     (a) any change in or amendment to the laws, or any regulations or rulings promulgated under
the laws of the United States or of any political subdivision or taxing authority of or in the
United States affecting taxation, or

     (b) any change in official position regarding the application or interpretation of the laws,
regulations or rulings referred to above,

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which change or amendment becomes effective or, in the case of a change in official position, is
announced on or after the date hereof, the Company is or will become obligated to pay Additional
Amounts with respect to the Notes, as described in Section 3.07 of this Indenture provided such
obligation cannot be avoided by the Company taking reasonable measures available to it.

     The redemption price will be equal to 100% of the principal amount of the Notes plus accrued
and unpaid interest to the date fixed for redemption and Additional Amounts, if any, then due and
which will become due on the date fixed for redemption. The date and the applicable redemption
price (the “Tax Redemption Price”) will be specified in the notice of tax redemption, which will be
given in accordance with Section 1.06 of this Indenture not less than 30 nor more than 60 days
prior to the date fixed for redemption and not earlier than 90 days prior to the earliest date on
which the Company would be obligated to pay such Additional Amounts if a payment in respect of the
Notes were actually due on such date and, at the time such notification of redemption is given,
such obligation to pay such Additional Amounts remains in effect.

     Prior to giving the notice of a tax redemption, the Company will deliver to the Trustee, with
a copy to the principal paying agent:

     (i) a certificate signed by a duly authorized officer stating that the Company is
entitled to effect the redemption pursuant to this Section and setting forth a statement
of facts showing that the conditions precedent to the right of the Company to so redeem
have occurred; and

     (ii) an opinion of independent legal counsel of recognized standing to that effect
based on the statement of facts.

     If any date fixed for redemption is a date prior to Exchange Date, definitive Notes will be
issuable on and after that redemption date as if that redemption date had been the Exchange Date.
Prior to the issuance of definitive Notes, the Person entitled to receive such Note shall have
furnished a certificate in the form set forth in Exhibit B-1 hereto.

     Section 10.04.  Partial Redemption.

     If less than all the Notes are to be redeemed pursuant to this Article 10, the Notes shall be
redeemed pro rata and otherwise in such manner as the Trustee shall deem fair and appropriate,
subject to the minimum authorized denomination of €50,000 and multiples of €1,000 in excess
of €50,000 and compliance with any applicable laws and stock exchange or other regulatory
requirements.

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

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     Section 10.05.  Notice of Redemption.

     Notice of redemption shall be given in the manner provided in Section 1.06. All notices of
redemption shall state:

     (i) the Redemption Date,

     (ii) the Redemption Price,

     (iii) if less than all the Outstanding Notes are to be redeemed, the aggregate
principal amount of the Notes to be redeemed,

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

     (v) the place or places where such Notes are to be surrendered for payment of the
Redemption Price, and

     (vi) CUSIP and/or ISIN numbers.

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

     So long as the Notes are listed on the Luxembourg Stock Exchange and the rules of that Stock
Exchange so require, the Company shall, once in each year in which there has been a partial
redemption of the Notes, cause to be published in the d’Wort a notice specifying the aggregate
principal amount of Notes outstanding and the aggregate principal amount of Notes drawn for
redemption but not surrendered provided, however, that so long as the Notes are in whole or in part
in the form of one or more Global Notes held by the Common Depositary, such notice shall be given
in writing to Euroclear and Clearstream, Luxembourg.

     Section 10.06.  Deposit of Redemption Price.

     Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying
Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 9.03) an amount of money sufficient to pay the Redemption Price or Tax
Redemption Price, as the case may be, of all the Notes which are to be redeemed on that date.

     Section 10.07.  Notes Payable on Redemption Date.

     Notice of redemption in connection with the exercise of the Call Option by the Company having
been given as aforesaid, the Notes so to be redeemed shall, on the Redemption Date, become due and
payable at the Redemption Price or Tax

48

 

Redemption Price (as applicable) therein specified, and from
and after such date (unless the Company shall default in the payment of the Redemption Price or Tax
Redemption Price) such Notes shall cease to bear interest. Upon surrender of any such Note for
redemption in accordance with said notice, such Note shall be paid by the Company at the Redemption
Price or Tax Redemption Price (as applicable).

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

     Section 10.08.  Notes Redeemed in Part.

     Any Note which is to be redeemed only in part shall be surrendered at a Place of Payment
therefor, and the Company shall execute, and the Trustee shall authenticate and deliver to the
Holder of such Note without service charge, a new Note or Notes, in denominations of €50,000 and
integrals of €1,000 in excess of €50,000 as requested by such Holder, in aggregate principal
amount equal to and in exchange for the unredeemed portion of the principal of the Note so
surrendered.

ARTICLE 11

Meetings of Holders of Notes

     Section 11.01.  Purposes for Which Meetings May Be Called.

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

     Section 11.02.  Call, Notice and Place of Meetings.

     The Company, or the Holders of at least twenty-five percent (25%) in aggregate principal
amount of the Notes then Outstanding, may at any time call a meeting of Holders for any purpose
specified in Section 11.01, to be held at such time and at such place in London, England as the
Company shall determine. Notice of every meeting of Holders setting forth the time and the place of
such meeting and in general terms the action proposed to be taken at such meeting, shall be given,
in the manner provided in Section 1.06, not less than 90 days prior to the date fixed for the
meeting.

     Section 11.03.  Persons Entitled to Vote at Meetings.

     To be entitled to vote at any meeting of Holders, a Person shall be (1) a Holder of one or
more Outstanding Notes, or (2) a Person appointed by an

49

 

instrument in writing as proxy for a Holder
or Holders of one or more Outstanding Notes by such Holder or Holders. The only Persons who shall
be entitled to be present or to speak at any meeting of Holders of Notes shall be the Persons
entitled to vote at such meeting and their counsel, any representatives of the Trustee and its
counsel and any representatives of the Company and its counsel.

     Section 11.04.  Quorum; Action.

     The Persons entitled to vote a majority in principal amount of the Outstanding Notes shall
constitute a quorum for a meeting of Holders; provided, however, that if any action is to be taken
at such meeting with respect to a consent or waiver which this Indenture expressly provides may be
given by the Holders of not less than a specified percentage in principal amount of the Outstanding
Notes, the Persons entitled to vote such specified percentage in principal amount of the
Outstanding Notes shall constitute a quorum. In the absence of a quorum within 30 minutes of the
time appointed for any such meeting, the meeting shall, if convened at the request of Holders of
Notes, be dissolved. In any other case the meeting may be adjourned for a period of not less than
10 days as determined by the chairman of the meeting prior to the adjournment of such meeting. In
the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further
adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior
to the adjournment of such adjourned meeting. Notice of the reconvening of any adjourned meeting
shall be given as provided in Section 11.02, except that such notice need be given only once not
less than five days prior to the date on which the meeting is scheduled to be reconvened. Notice of
the reconvening of any adjourned meeting shall state expressly the percentage, as provided above,
of the principal amount of the Outstanding Notes which shall constitute a quorum.

     Except as limited by the proviso to Section 8.02, any resolution presented to a meeting or
adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted by the
affirmative vote of the Holders of a majority in principal amount of the Outstanding Notes.

     Any resolution passed or decision taken at any meeting of Holders duly held in accordance with
this Section shall be binding on all the Holders of Notes, whether or not present or represented at
the meeting.

     Section 11.05.  Determination of Voting Rights; Conduct and Adjournment of Meetings.

     (a) Notwithstanding any provisions of this Indenture, the Company may make such reasonable
regulations as it may deem advisable for any meeting of Holders in regard to proof of the holding
of Notes and of the appointment of proxies and in regard to the appointment and duties of
inspectors of votes, the submission and examination of proxies, certificates and other evidence of
the

50

 

right to vote, and such other matters concerning the conduct of the meeting as it shall deem
appropriate. Except as otherwise permitted or required by any such regulations, the holding of
Notes shall be proved in the manner specified in Section 1.04 and the appointment of any proxy
shall be proved in the manner specified in Section 1.04 or by having the signature of the Person
executing the proxy witnessed or guaranteed by any trust company, bank or banker authorized by
Section 1.04 to certify to the holding of Notes. Such regulations may provide that written
instruments appointing proxies, regular on their face, may be presumed valid and genuine without
the proof specified in Section 1.04 or other proof.

     (b) The Company shall by an instrument in writing appoint a temporary chairman of the meeting,
unless the meeting shall have been called by Holders as provided in Section 11.02, in which case
the Holders calling the meeting shall in like manner appoint a temporary chairman. A permanent
chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled
to vote a majority in principal amount of the Outstanding Notes represented at the meeting.

     (c) At any meeting each Holder of a Note or proxy shall be entitled to one vote for each
€1,000 principal amount of the Outstanding Notes held or represented by him; provided, however,
that no vote shall be cast or counted at any meeting in respect of any Note challenged as not
Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the
meeting shall have no right to vote, except as a Holder of a Note or proxy.

     (d) Any meeting of Holders duly called pursuant to Section 11.02 at which a quorum is present
may be adjourned from time to time by Persons entitled to vote a majority in principal amount of
the Outstanding Notes represented at the meeting, and the meeting may be held as so adjourned
without further notice.

     Section 11.06.  Counting Votes and Recording Action of Meetings.

     The vote upon any resolution submitted to any meeting of Holders shall be by written ballots
on which shall be subscribed the signatures of the Holders or of their representatives by proxy and
the principal amounts and serial numbers of the Outstanding Notes held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes
cast at the
meeting for or against any resolution and who shall make and file with the secretary of the
meeting their verified written reports in duplicate of all votes cast at the meeting. A record, at
least in duplicate, of the proceedings of each meeting of Holders shall be prepared by the
secretary of the meeting and there shall be attached to said record the original reports of the
inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons
having knowledge of the fact, setting forth a copy of the notice of the meeting and showing that
said notice was given as provided in Section 11.02 and, if applicable, Section 11.04.

51

 

Each copy
shall be signed and verified by the affidavits of the permanent chairman and secretary of the
meeting and one such copy shall be delivered to the Company and another to the Trustee to be
preserved by the Trustee, the former to have attached thereto the ballots voted at the meeting. Any
record so signed and verified shall be conclusive evidence of the matters therein stated.

ARTICLE 12

Defeasance And Covenant Defeasance

     Section 12.01.  Company’s Option To Effect Defeasance Or Covenant Defeasance.

     The Company may elect, at its option at any time, to have Section 12.02 or Section 12.03
applied to any Notes upon compliance with the conditions set forth below in this Article 12.

     Section 12.02.  Defeasance And Discharge.

     Upon the Company’s exercise of its option (if any) to have this Section 12.02 applied to any
Notes, the Company shall be deemed to have been discharged from its obligations with respect to
such Notes as provided in this Section 12.02 on and after the date the conditions set forth in
Section 12.04 are satisfied (hereinafter called “Defeasance”) . For this purpose, such Defeasance
means that the Company shall be deemed to have paid and discharged the entire indebtedness
represented by such Notes and to have satisfied all its other obligations under such Notes and this
Indenture insofar as such Notes are concerned (and the Trustee, at the expense of the Company,
shall execute proper instruments acknowledging the same), subject to the following which shall
survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of such Notes
to receive, solely from the trust fund described in Section 12.04 and as more fully set forth in
such Section 12.02, payments in respect of the principal of and any premium and interest on such
Notes when payments are due, (b) the Company’s obligations with respect to such Notes under
Sections 3.04, 3.05, 9.02 and 9.03, (c) the rights, powers, trusts, duties and immunities of the
Trustee hereunder and (d) this Article. Subject to compliance with this Article, the Company may
exercise its option (if any) to have this Section 12.02 applied to
any Notes notwithstanding the prior exercise of its option (if any) to have Section 12.03
applied to such Notes.

     Section 12.03.  Covenant Defeasance.

     Upon the Company’s exercise of its option (if any) to have this Section 12.03 applied to any
Notes, (a) the Company shall be released from its obligations under Section 7.01(c), Section 9.04,
Section 9.05, and any covenants provided pursuant to Section 8.01(b) or Section 8.01(h) for the
benefit of the Holders of such Notes and (b) the occurrence of any event specified in Sections
5.01(d) (with

52

 

respect to any of Section 7.01(c), Section 9.04, Section 9.05, and any such covenants
provided pursuant to 8.01(b) or Section 8.01(h)) and Section 5.01(e) shall be deemed not to be or
result in an Event of Default, in each case with respect to such Notes as provided in this Section
12.03 on and after the date the conditions set forth in Section 12.04 are satisfied (hereinafter
called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect
to such Notes, the Company may omit to comply with and shall have no liability in respect of any
term, condition or limitation set forth in any such specified Section (to the extent so specified
in the case of Section 5.01(d)), whether directly or indirectly by reason of any reference
elsewhere herein to any such Section or by reason of any reference in any such Section to any other
provision herein or in any other document, but the remainder of this Indenture and such Notes shall
be unaffected thereby.

     Section 12.04.  Conditions To Defeasance Or Covenant Defeasance.

     The following shall be the conditions to the application of Section 12.02 or Section 12.03 to
any Notes or any series of Notes, as the case may be:

     (a) The Company shall irrevocably have deposited or caused to be deposited with the Trustee
(or another trustee which satisfies the requirements contemplated by Section 6.08 and agrees to
comply with the provisions of this Article applicable to it) as trust funds in trust for the
purpose of making the following payments, specifically pledged as security for, and dedicated
solely to, the benefits of the Holders of such Notes, (i) money in an amount, or (ii) U.S.
Government Obligations which through the scheduled payment of principal and interest in respect
thereof in accordance with their terms will provide, not later than one day before the due date of
any payment, money in an amount, or (iii) a combination thereof, in each case sufficient, in the
opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by
the Trustee (or any such other qualifying trustee) to pay and discharge, the principal of and any
premium and interest on such Notes on the Stated Maturity, in accordance with the terms of this
Indenture and such Notes. As used herein, “U.S. Government Obligation” means (x) any Note which is
(i) a direct obligation of the United States of America for the payment of which the full faith and
credit of the United States of America is pledged or (ii) an
obligation of a Person controlled or supervised by and acting as an agency or instrumentality
of the United States of America the payment of which is unconditionally guaranteed as a full faith
and credit obligation by the United States of America, which, in either case (i) or (ii), is not
callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued
by a bank (as defined in Section 3(a)(2) of the Notes Exchange Act of 1934, as amended) as
custodian with respect to any U.S. Government Obligation which is specified in Clause (x) above and
held by such bank for the account of the holder of such depositary receipt, or with respect to any
specific payment of principal of or interest on any U.S. Government Obligation which is so
specified and held,

53

 

provided that (except as required by law) such custodian is not authorized to
make any deduction from the amount payable to the holder of such depositary receipt from any amount
received by the custodian in respect of the U.S. Government Obligation or the specific payment of
principal or interest evidenced by such depositary receipt.

     (b) In the event of an election to have Section 12.02 apply to any Notes, the Company shall
have delivered to the Trustee an Opinion of Counsel stating that (i) the Company has received from,
or there has been published by, the Internal Revenue Service a ruling or (ii) since the date of
this instrument, there has been a change in the applicable Federal income tax law, in either case
(i) or (ii) to the effect that, and based thereon such opinion shall confirm that, the Holders of
such Notes will not recognize gain or loss for Federal income tax purposes as a result of the
deposit, Defeasance and discharge to be effected with respect to such Notes and will be subject to
Federal income tax on the same amount, in the same manner and at the same times as would be the
case if such deposit, Defeasance and discharge were not to occur.

     (c) In the event of an election to have Section 12.03 apply to any Notes, the Company shall
have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Notes
will not recognize gain or loss for Federal income tax purposes as a result of the deposit and
Covenant Defeasance to be effected with respect to such Notes and will be subject to Federal income
tax on the same amount, in the same manner and at the same times as would be the case if such
deposit and Covenant Defeasance were not to occur.

     (d) The Company shall have delivered to the Trustee an Officer’s Certificate to the effect
that neither such Notes nor any other Notes, if then listed on any Notes exchange, will be delisted
as a result of such deposit.

     (e) No event which is, or after notice or lapse of time or both would become, an Event of
Default with respect to such Notes or any other Notes shall have occurred and be continuing at the
time of such deposit or, with regard to any such event specified in Section 5.01(f) and Section
5.01(g), at any time on or prior to the 90th day after the date of such deposit (it being
understood that this condition shall not be deemed satisfied until after such 90th day).

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

     (g) Such Defeasance or Covenant Defeasance shall not result in the trust arising from such
deposit constituting an investment company within the meaning of the Investment Company Act of
1940, as amended, unless such trust shall be registered under such Act or exempt from registration
thereunder.

54

 

     (h) At the time of such deposit, (i) no default in the payment of any principal of or premium
or interest on any indebtedness of the Company ranking prior to the Notes (“Senior Debt”) shall
have occurred and be continuing, (ii) no event of default with respect to any Senior Debt shall
have resulted in such Senior Debt becoming, and continuing to be, due and payable prior to the date
on which it would otherwise have become due and payable (unless payment of such Senior Debt has
been made or duly provided for), and (iii) no other event of default with respect to any Senior
Debt shall have occurred and be continuing permitting (after notice or lapse of time or both) the
holders of such Senior Debt (or a trustee on behalf of such holders) to declare such Senior Debt
due and payable prior to the date on which it would otherwise have become due and payable.

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

     Section 12.05.  Deposited Money And U.S. Government Obligations To Be Held In Trust;
Miscellaneous Provisions.

     Subject to the provisions of the last paragraph of Section 9.03, all money and U.S. Government
Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee
(solely for purposes of this Section 12.05 and Section 12.06, the Trustee and any such other
trustee are referred to collectively as the “Trustee”) pursuant to Section 12.04 in respect of any
Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of such
Notes and this Indenture, to the payment, either directly or through any such Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders
of such Notes, of all sums due and to become due thereon in respect of principal and any premium
and interest, but money so held in trust need not be segregated from other funds except to the
extent required by law.

     The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the U.S. Government Obligations deposited pursuant to Section 12.04 or the
principal and interest received in respect thereof other than any such tax, fee or other charge
which by law is for the account of the Holders of Outstanding Notes.

     Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to
the Company from time to time upon Company Request any money or U.S. Government Obligations held by
it as provided in Section 12.04 with respect to any Notes which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof
delivered to the Trustee, are in excess of the amount thereof which would then be required to be
deposited to effect the Defeasance or Covenant Defeasance, as the case may be, with respect to such
Notes.

55

 

     Section 12.06.  Reinstatement.

     If the Trustee or the Paying Agent is unable to apply any money in accordance with this
Article with respect to any Notes by reason of any order or judgment of any court or governmental
authority enjoining, restraining or otherwise prohibiting such application, then the obligations
under this Indenture and such Notes from which the Company has been discharged or released pursuant
to Section 12.02 or Section 12.03 shall be revived and reinstated as though no deposit had occurred
pursuant to this Article with respect to such Notes, until such time as the Trustee or Paying Agent
is permitted to apply all money held in trust pursuant to Section 12.05 with respect to such Notes
in accordance with this Article; provided, however, that if the Company makes any payment of
principal of or any premium or interest on any such Note following such reinstatement of its
obligations, the Company shall be subrogated to the rights (if any) of the Holders of such Notes to
receive such payment from the money so held in trust.

56

 

     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.

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

	 	 	 	 	 
	 	 	PPG INDUSTRIES, INC.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name: William H. Hernandez
	 

	 	 	 	Title: Senior Vice President, Finance
	 
	 	 	 	 
	 	 	The Bank of New York
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

57

 

EXHIBIT A

FORMS OF GLOBAL AND DEFINITIVE NOTES

     Form of Face of Note.

PPG INDUSTRIES, INC.

 

	 	 	 
	No.                     

	 	€                    

     PPG INDUSTRIES, INC., a corporation duly organized and existing under the laws of the
Commonwealth of Pennsylvania (herein called the “Company”, which term includes any successor
corporation under the Indenture hereinafter referred to), for value received, hereby promises to
pay to the bearer, the principal sum of                      Euros on June 24, 2015 and to pay interest
thereon from June 24, 2005 or from the most recent Interest Payment Date to which interest has been
paid or duly provided for, annually on June 24 in each year, commencing on June 24, 2006, at the
rate of 3.875% per annum, until the principal hereof is paid or made available for payment and (to
the extent that the payment of such interest shall be legally enforceable) at the rate of 3.875%
per annum on any overdue principal and premium and on any overdue installment of interest.

     Payment of the principal of (and premium, if any) and interest on this Note will be made upon
presentation and, at maturity, surrender, of this Note at the office or agency of the Trustee
maintained for that purpose in London, England or at the offices of any other Paying Agents located
outside the United States from time to time appointed by the Company in respect of the Notes, in
Euros or such coin or currency of the European Union as at the time of payment is legal tender for
payment of public and private debts, but in each case subject to the requirements as to
certification provided herein.

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

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

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

A-1

 

Dated:

	 	 	 	 	 
	 	 	PPG INDUSTRIES, INC.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

	 
	Attest:

	 

	                                                            

     Form of Reverse of Note.

     This Note is one of a duly authorized issue of Notes of the Company (herein called the
“Notes”), issued under an Indenture, dated as of June 24, 2005 (herein called the “Indenture”)
between the Company and The Bank of New York, as Trustee (herein called the “Trustee”, which term
includes any successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective rights, limitations
of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the
Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This
Note is one of the series designated on the face hereof, limited in aggregate principal amount to
€300,000,000.

     The Notes are subject to redemption, at the Company’s option, in whole or in part at
any time prior to Maturity, upon not less than 30 nor more than 60 days’ notice to the Trustee at
any time prior to June 24, 2015, at the Early Redemption Amount plus the Make Whole Premium.

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

     In the event of redemption of this Note in part only, a new Note or Notes for the unredeemed
portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof, in
minimum denominations of €50,000 and multiples of €1,000 in excess of €50,000.

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

     The Indenture permits the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of either 75% or a majority in principal amount of the
Notes at the time

A-2

 

Outstanding (depending on the type of the amendment or modification). The Indenture also
contains provisions permitting the Holders of specified percentages in principal amount of the
Notes at the time Outstanding, on behalf of the Holders of all Notes, to waive compliance by the
Company with certain provisions of the Indenture and certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and
binding upon such Holder and upon all future Holders of this Note and of any Note issued in lieu
hereof, whether or not notation of such consent or waiver is made upon this Note.

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

     The Notes are issuable only in bearer form without coupons in denominations of €50,000 and
integral multiples of €1,000 in excess of €50,000.

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

     Form of Trustee’s Certificate of Authentication.

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

	 	 	 	 	 
	 	 	The Bank of New York

as Trustee
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Authorized Officer
	 

	 	Dated:	 	 

A-3

 

FORM OF LEGEND FOR TEMPORARY GLOBAL NOTE

THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”) AND MAY NOT BE OFFERED OR SOLD DIRECTLY OR INDIRECTLY IN THE
UNITED STATES OF AMERICA (INCLUDING THE STATES AND THE DISTRICT OF COLUMBIA), ITS POSSESSIONS, ITS
TERRITORIES OR OTHER AREAS SUBJECT TO ITS JURISDICTION (THE “UNITED STATES”) OR TO, OR FOR THE
ACCOUNT OR BENEFIT OF, ANY CITIZEN OR RESIDENT OF THE UNITED STATES, ANY CORPORATION, PARTNERSHIP
OR OTHER ENTITY CREATED OR ORGANIZED IN OR UNDER THE LAWS OF THE UNITED STATES OR ANY POLITICAL
SUBDIVISION THEREOF OR THEREIN, AN ESTATE THE INCOME OF WHICH IS SUBJECT TO UNITED STATES FEDERAL
INCOME TAXATION REGARDLESS OF ITS SOURCE OR A TRUST IF BOTH A COURT WITHIN THE UNITED STATES IS
ABLE TO EXERCISE PRIMARY SUPERVISION OVER ITS ADMINISTRATION AND ONE OR MORE UNITED STATES PERSONS
HAVE THE AUTHORITY TO CONTROL ALL OF ITS SUBSTANTIAL DECISIONS OR A TRUST THAT HAS MADE A VALID
ELECTION TO BE TREATED AS A DOMESTIC TRUST FOR UNITED STATES FEDERAL INCOME TAX PURPOSES (“UNITED
STATES PERSONS”); PROVIDED, HOWEVER, THAT THE TERM “UNITED STATES PERSON” SHALL NOT INCLUDE A
BRANCH OR AGENCY OF A UNITED STATES BANK OR INSURANCE COMPANY THAT IS OPERATING OUTSIDE THE UNITED
STATES FOR VALID BUSINESS REASONS AS A LOCALLY REGULATED BRANCH OR INSURANCE BUSINESS AND NOT
SOLELY FOR THE PURPOSE OF INVESTING IN SECURITIES NOT REGISTERED UNDER THE SECURITIES ACT.

ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED
STATES INCOME TAX LAWS, INCLUDING THE LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE
INTERNAL REVENUE CODE.

THIS NOTE IS A TEMPORARY GLOBAL NOTE WITHOUT COUPONS, EXCHANGEABLE FOR A PERMANENT GLOBAL NOTE
WITHOUT COUPONS OR DEFINITIVE NOTES AT THE MAIN OFFICE OF THE TRUSTEE (AS DEFINED HEREIN) IN
LONDON. THE RIGHTS ATTACHING TO THIS TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES
GOVERNING ITS EXCHANGE FOR A PERMANENT GLOBAL NOTE OR DEFINITIVE NOTES ARE AS SPECIFIED IN THE
INDENTURE.

NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE
PAYMENT OF INTEREST HEREON EXCEPT PURSUANT TO THE PROVISIONS HEREOF.

A-4

 

FORM OF LEGEND FOR PERMANENT GLOBAL NOTE

THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”) AND MAY NOT BE OFFERED OR SOLD DIRECTLY OR INDIRECTLY IN THE
UNITED STATES OF AMERICA (INCLUDING THE STATES AND THE DISTRICT OF COLUMBIA), ITS POSSESSIONS, ITS
TERRITORIES OR OTHER AREAS SUBJECT TO ITS JURISDICTION (THE “UNITED STATES”) OR TO, OR FOR THE
ACCOUNT OR BENEFIT OF, ANY CITIZEN OR RESIDENT OF THE UNITED STATES, ANY CORPORATION, PARTNERSHIP
OR OTHER ENTITY CREATED OR ORGANIZED IN OR UNDER THE LAWS OF THE UNITED STATES OR ANY POLITICAL
SUBDIVISION THEREOF OR THEREIN, AN ESTATE THE INCOME OF WHICH IS SUBJECT TO UNITED STATES FEDERAL
INCOME TAXATION REGARDLESS OF ITS SOURCE OR A TRUST IF BOTH A COURT WITHIN THE UNITED STATES IS
ABLE TO EXERCISE PRIMARY SUPERVISION OVER ITS ADMINISTRATION AND ONE OR MORE UNITED STATES PERSONS
HAVE THE AUTHORITY TO CONTROL ALL OF ITS SUBSTANTIAL DECISIONS OR A TRUST THAT HAS MADE A VALID
ELECTION TO BE TREATED AS A DOMESTIC TRUST FOR UNITED STATES FEDERAL INCOME TAX PURPOSES (“UNITED
STATES PERSONS”); PROVIDED, HOWEVER, THAT THE TERM “UNITED STATES PERSON” SHALL NOT INCLUDE A
BRANCH OR AGENCY OF A UNITED STATES BANK OR INSURANCE COMPANY THAT IS OPERATING OUTSIDE THE UNITED
STATES FOR VALID BUSINESS REASONS AS A LOCALLY REGULATED BRANCH OR INSURANCE BUSINESS AND NOT
SOLELY FOR THE PURPOSE OF INVESTING IN SECURITIES NOT REGISTERED UNDER THE SECURITIES ACT.

ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED
STATES INCOME TAX LAWS, INCLUDING THE LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE
INTERNAL REVENUE CODE.

THIS NOTE IS A PERMANENT GLOBAL NOTE WITHOUT COUPONS, EXCHANGEABLE FOR DEFINITIVE NOTES WITHOUT
COUPONS, AT THE MAIN OFFICE OF THE TRUSTEE (AS DEFINED HEREIN) IN LONDON. THE RIGHTS ATTACHING TO
THIS PERMANENT GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR DEFINITIVE
NOTES, ARE AS SPECIFIED IN THE INDENTURE.

NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE
PAYMENT OF INTEREST HEREON EXCEPT PURSUANT TO THE PROVISIONS HEREOF.

A-5

 

FORM OF LEGEND FOR DEFINITIVE NOTE

THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
AS AMENDED (THE “SECURITIES ACT”) AND MAY NOT BE OFFERED OR SOLD DIRECTLY OR INDIRECTLY IN THE
UNITED STATES OF AMERICA (INCLUDING THE STATES AND THE DISTRICT OF COLUMBIA), ITS POSSESSIONS, ITS
TERRITORIES OR OTHER AREAS SUBJECT TO ITS JURISDICTION (THE “UNITED STATES”) OR TO, OR FOR THE
ACCOUNT OR BENEFIT OF, ANY CITIZEN OR RESIDENT OF THE UNITED STATES, ANY CORPORATION, PARTNERSHIP
OR OTHER ENTITY CREATED OR ORGANIZED IN OR UNDER THE LAWS OF THE UNITED STATES OR ANY POLITICAL
SUBDIVISION THEREOF OR THEREIN, AN ESTATE THE INCOME OF WHICH IS SUBJECT TO UNITED STATES FEDERAL
INCOME TAXATION REGARDLESS OF ITS SOURCE OR A TRUST IF BOTH A COURT WITHIN THE UNITED STATES IS
ABLE TO EXERCISE PRIMARY SUPERVISION OVER ITS ADMINISTRATION AND ONE OR MORE UNITED STATES PERSONS
HAVE THE AUTHORITY TO CONTROL ALL OF ITS SUBSTANTIAL DECISIONS OR A TRUST THAT HAS MADE A VALID
ELECTION TO BE TREATED AS A DOMESTIC TRUST FOR UNITED STATES FEDERAL INCOME TAX PURPOSES (“UNITED
STATES PERSONS”); PROVIDED, HOWEVER, THAT THE TERM “UNITED STATES PERSON” SHALL NOT INCLUDE A
BRANCH OR AGENCY OF A UNITED STATES BANK OR INSURANCE COMPANY THAT IS OPERATING OUTSIDE THE UNITED
STATES FOR VALID BUSINESS REASONS AS A LOCALLY REGULATED BRANCH OR INSURANCE BUSINESS AND NOT
SOLELY FOR THE PURPOSE OF INVESTING IN SECURITIES NOT REGISTERED UNDER THE SECURITIES ACT.

ANY UNITED STATES PERSON WHO HOLDS THIS OBLIGATION WILL BE SUBJECT TO LIMITATIONS UNDER THE UNITED
STATES INCOME TAX LAWS, INCLUDING THE LIMITATIONS PROVIDED IN SECTIONS 165(j) AND 1287(a) OF THE
INTERNAL REVENUE CODE.

NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS DEFINITIVE NOTE SHALL BE ENTITLED TO RECEIVE
PAYMENT OF INTEREST HEREON EXCEPT PURSUANT TO THE PROVISIONS HEREOF.

A-6

 

Exhibit B-1

FORM OF CERTIFICATE TO BE GIVEN BY PERSON ENTITLED TO

RECEIVE BEARER NOTE OR TO OBTAIN INTEREST PAYABLE PRIOR

TO THE EXCHANGE DATE

CERTIFICATE

3.875% Senior Notes Due 2015

     This is to certify that, as of the date hereof, and except as set forth below, the
above-captioned Notes held by you for our account (i) are owned by person(s) that are not citizens
or residents of the United States, domestic partnerships, domestic corporations or any estate or
trust the income of which is subject to United States federal income taxation regardless of its
source (“United States person(s)”), (ii) are owned by United States person(s) that are (a) foreign
branches of United States financial institutions (financial institutions, as defined in United
States Treasury Regulations Section 1.165-12(c)(1)(iv) are herein referred to as “financial
institutions”) purchasing for their own account or for resale, or (b) United States person(s) who
acquired the Notes through foreign branches of United States financial institutions and who hold
the Notes through such United States financial institutions on the date hereof (and in either case
(a) or (b), each such United States financial institution hereby agrees, on its own behalf or
through its agent, that you may advise PPG Industries, Inc. or its agent that such financial
institution will comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the United
States Internal Revenue Code of 1986, as amended, and the regulations thereunder), or (iii) are
owned by United States or foreign financial institution(s) for purposes of resale during the
restricted period (as defined in United States Treasury Regulations Section
1.163-5(c)(2)(i)(D)(7)), and, in addition, if the owner is a United States or foreign financial
institution described in clause (iii) above (whether or not also described in clause (i) or (ii)),
this is to further certify that such financial institution has not acquired the Notes for purposes
of resale directly or indirectly to a United States person or to a person within the United States
or its possessions.

     As used herein, “United States” means the United States of America (including the States and
the District of Columbia); and its “possessions” include Puerto Rico, the U.S. Virgin Islands,
Guam, American Samoa, Wake Island and the Northern Mariana Islands.

     We undertake to advise you promptly by tested telex on or prior to the date on which you
intend to submit your certification relating to the above-captioned Notes held by you for our
account in accordance with your Operating Procedures if any applicable statement herein is not
correct on such date, and in

 B-1-1

 

 

the absence of any such notification it may be assumed that this certification applies as of
such date.

     This certificate excepts and does not relate to €                      of such interest in the
above-captioned Notes in respect of which we are not able to certify and as to which we understand
an exchange for an interest in a Permanent Global Note or an exchange for and delivery of
definitive Notes (or, if relevant, collection of any interest) cannot be made until we do so
certify.

     We understand that this certificate may be required in connection with certain tax legislation
in the United States. If administrative or legal proceedings are commenced or threatened in
connection with which this certificate is or would be relevant, we irrevocably authorize you to
produce this certificate or a copy thereof to any interested party in such proceedings.

	 
	Dated:                                         

[To be dated no earlier than the 15th day prior to

(i) the Exchange Date or (ii) the relevant

Interest Payment Date occurring prior to the

Exchange Date, as applicable] 
[Name of Person
Making Certification]

                                                            

(Authorized Signatory)

Name:

Title:

 B-1-2

 

 

Exhibit B-2

FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR AND

CLEARSTREAM BANKING SOCIETE ANONYME IN CONNECTION WITH

THE EXCHANGE OF A PORTION OF A TEMPORARY GLOBAL NOTE OR

TO OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE DATE

CERTIFICATE

3.875% Senior Notes Due 2015

     This is to certify that, based solely on written certifications that we have received in
writing, by tested telex or by electronic transmission from each of the persons appearing in our
records as persons entitled to a portion of the principal amount set forth below (our “Member
Organizations”) substantially in the form attached hereto, as of the date hereof, €
                                                             principal amount of the above-captioned Notes (i) is owned by person(s) that are
not citizens or residents of the United States, domestic partnerships, domestic corporations or any
estate or trust the income of which is subject to United States Federal income taxation regardless
of its source (“United States person(s)”), (ii) is owned by United States person(s) that are (a)
foreign branches of United States financial institutions (financial institutions, as defined in
U.S. Treasury Regulations Section 1.165-12(c)(1)(iv) are herein referred to as “financial
institutions”) purchasing for their own account or for resale, or (b) United States person(s) who
acquired the Notes through foreign branches of United States financial institutions and who hold
the Notes through such United States financial institutions on the date hereof (and in either case
(a) or (b), each such financial institution has agreed, on its own behalf or through its agent,
that we may advise PPG Industries, Inc. or its agent that such financial institution will comply
with the requirements of Section 165(j)(3)(A),(B) or (C) of the Internal Revenue Code of 1986, as
amended, and the regulations thereunder), or (iii) is owned by United States or foreign financial
institution(s) for purposes of resale during the restricted period (as defined in United States
Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)), and, to the further effect, that financial
institutions described in clause (iii) above (whether or not also described in clause (i) or (ii))
have certified that they have not acquired the Notes for purposes of resale directly or indirectly
to a United States person or to a person within the United States or its possessions.

     As used herein, “United States” means the United States of America (including the States and
the District of Columbia); and its “possessions” include Puerto Rico, the U.S. Virgin Islands,
Guam, American Samoa, Wake Island and the Northern Mariana Islands.

     We further certify that (i) we are not making available herewith for exchange (or, if
relevant, collection of any interest) any portion of the Temporary

 B-2-1

 

 

Global Note representing the
above-captioned Notes excepted in the above-referenced certificates of Member Organizations and
(ii) as of the date hereof we have not received any notification from any of our Member
Organizations to the effect that the statements made by such Member Organizations with respect to
any portion of the part submitted herewith for exchange (or, if relevant, collection of any
interest) are no longer true and cannot be relied upon as of the date hereof.

     We understand that this certification is required in connection with certain tax legislation
in the United States. If administrative or legal proceedings are commenced or threatened in
connection with which this certificate is or would be relevant, we irrevocably authorize you to
produce this certificate or a copy thereof to any interested party in such proceedings.

Dated:                                         

[To be dated no earlier than the Exchange

Date or the relevant Interest Payment

Date occurring prior to the Exchange

Date, as applicable]

[          ] as Operator

of the Euroclear System

[Clearstream Banking societe anonyme]

By                                                                                 

 B-2-2exv10w2

 

EXHIBIT 10.2

CONTRIBUTION, CONVEYANCE AND

ASSUMPTION AGREEMENT

WILLIAMS PARTNERS L.P.

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	ARTICLE I DEFINITIONS; RECORDATION	 	 	4	 
	1.1
	 	Definitions	 	 	4	 
	1.2
	 	Recordation of Evidence of Ownership of Assets	 	 	7	 
	 
	 	 	 	 	 	 
	ARTICLE II THE OFFERING AND RELATED TRANSACTIONS	 	 	7	 
	2.1
	 	Distribution of MCFS Working Capital Assets by MCFS to Holdings	 	 	7	 
	2.2
	 	Distribution of CTP Working Capital Assets by CTP to WES	 	 	7	 
	2.3
	 	Contribution by WES to GP LLC of an Interest in CTP	 	 	8	 
	2.4
	 	Contribution by GP LLC to the MLP of the CTP Interest	 	 	8	 
	2.5
	 	Contribution by WES to the MLP of its Remaining Interest in CTP	 	 	8	 
	2.6
	 	Contribution by WE to the MLP of an Interest in Discovery	 	 	8	 
	2.7
	 	Contribution by Williams Pipeline to the MLP of an Interest in Discovery	 	 	8	 
	2.8
	 	Contribution by Holdings to the MLP of All of Its Interests in MCFS	 	 	9	 
	2.9
	 	Public Cash Contribution	 	 	9	 
	2.10
	 	MLP Receipt of Cash Contribution	 	 	9	 
	2.11
	 	MLP Cash Distribution to [TWC affiliates]	 	 	9	 
	2.12
	 	MCFS Receipt of Cash Contribution	 	 	10	 
	2.13
	 	CTP Receipt of Cash Contribution	 	 	10	 
	2.14
	 	Conveyance and Contribution by the MLP to the OLLC of its Interests in MCFS, CTP and Discovery	 	 	10	 
	2.15
	 	Specific Conveyances	 	 	10	 
	 
	 	 	 	 	 	 
	ARTICLE III ASSUMPTION OF CERTAIN LIABILITIES	 	 	10	 
	3.1
	 	Assumption of CTP Liabilities by GP LLC	 	 	10	 
	3.2
	 	Assumption of CTP Liabilities by the MLP	 	 	10	 
	3.3
	 	Assumption of CTP Remaining Liabilities by the MLP	 	 	11	 
	3.4
	 	Assumption of WE Discovery Liabilities by the MLP	 	 	11	 
	3.5
	 	Assumption of Williams Pipeline Discovery Liabilities by the MLP	 	 	11	 
	3.6
	 	Assumption of MCFS Liabilities by the MLP	 	 	11	 
	3.7
	 	Assumption of MLP Aggregate Liabilities by the OLLC	 	 	12	 
	3.8
	 	General Provisions Relating to Assumption of Liabilities	 	 	12	 
	 
	 	 	 	 	 	 
	ARTICLE IV ADDITIONAL TRANSACTION	 	 	12	 
	4.1
	 	Purchase of Additional Common Units	 	 	12	 
	 
	 	 	 	 	 	 
	ARTICLE V TITLE MATTERS	 	 	12	 
	5.1
	 	Encumbrances	 	 	12	 
	5.2
	 	Disclaimer of Warranties; Subrogation; Waiver of Bulk Sales Laws	 	 	13	 
	 
	 	 	 	 	 	 
	ARTICLE VI FURTHER ASSURANCES	 	 	14	 
	6.1
	 	Further Assurances	 	 	14	 
	6.2
	 	Other Assurances	 	 	15	 
	 
	 	 	 	 	 	 
	ARTICLE VII MISCELLANEOUS	 	 	15	 
	7.1
	 	Order of Completion of Transactions	 	 	15	 

-i-

 

	 	 	 	 	 	 	 
	7.2
	 	Consents; Restriction on Assignment	 	 	15	 
	7.3
	 	Costs	 	 	16	 
	7.4
	 	Headings; References; Interpretation	 	 	16	 
	7.5
	 	Successors and Assigns	 	 	17	 
	7.6
	 	No Third Party Rights	 	 	17	 
	7.7
	 	Counterparts	 	 	17	 
	7.8
	 	Governing Law	 	 	17	 
	7.9
	 	Severability	 	 	17	 
	7.10
	 	Deed; Bill of Sale; Assignment	 	 	17	 
	7.11
	 	Amendment or Modification	 	 	17	 
	7.12
	 	Integration	 	 	17	 

-ii-

 

CONTRIBUTION, CONVEYANCE AND ASSUMPTION AGREEMENT

     THIS
CONTRIBUTION, CONVEYANCE AND ASSUMPTION AGREEMENT, dated as of ______ ___, 2005, is
entered into by and among Williams Energy Services, LLC, a Delaware limited liability company
(“WES”); Williams Partners GP LLC, a Delaware limited liability company (“GP LLC”);
Williams Partners L.P., a Delaware limited partnership (the “MLP”); Williams Partners
Operating LLC, a Delaware limited liability company (the “OLLC”); Williams Energy LLC, a
Delaware limited liability company (“WE”); Williams Discovery Pipeline, LLC, a Delaware
limited liability company (“Williams Pipeline”); Williams Partners Holdings LLC, a Delaware
limited liability company (“Holdings”); Mid-Continent Fractionation and Storage, LLC, a
Delaware limited liability company (“MCFS”); and Carbonate Trend Pipeline LLC, a Delaware
limited liability company (“CTP”). The foregoing shall be referred to individually as a
“Party” and collectively as the “Parties.” Certain capitalized terms used are
defined in Article I hereof.

RECITALS

     WHEREAS, WES and GP LLC have formed the MLP pursuant to the Delaware Revised Uniform Limited
Partnership Act (the “Delaware Limited Partnership Act”), for the purpose of, among other
things, owning, operating and acquiring certain assets of certain subsidiaries of The Williams
Companies, Inc., a Delaware corporation (“TWC”), used in the business of gathering,
transporting and processing natural gas and fractionating and storing natural gas liquids.

     WHEREAS, in order to accomplish the objectives and purposes in the preceding recital, the
following actions have been taken prior to the date hereof:

	 	1.	 	Williams Midstream Natural Gas Liquids, Inc. (“WMNGL”) conveyed the
Conway Storage East, Conway West and Mitchell storage assets, certain Conway real
estate, several easements and a letter of credit for storage abandonment to MCFS in
exchange for a membership interest in MCFS.
	 
	 	2.	 	Williams Natural Gas Liquids, Inc. (“WNGL”) conveyed a 50% undivided
interest in the Conway fractionator, all applicable contracts or agreements relating to
the contributed assets (including but not limited to the Conway fractionator operating
agreement), a fixed price gas purchase contract and certain Conway real estate to MCFS
in exchange for a membership interest in MCFS.
	 
	 	3.	 	Espagas USA, Inc. (“Espagas”) conveyed certain Conway real estate to
MCFS in exchange for a membership interest in MCFS.
	 
	 	4.	 	MAPCO Inc., (“MAPCO”) conveyed certain Conway real estate and a VOP
MEROX license agreement to MCFS in exchange for a membership interest in MCFS.
	 
	 	5.	 	WES formed GP LLC under the terms of the Delaware Limited Liability Company Act
(the “Delaware LLC Act”), and contributed $1,000 in exchange for all of the
membership interests in GP LLC.

 

 

	 	6.	 	GP LLC and WES formed the MLP, to which GP LLC contributed $20 and WES
contributed $980 in exchange for a 2% general partner and 98% limited partner interest,
respectively.
	 
	 	7.	 	WES acquired 100% of the membership interests in ENI British Borneo Pipeline
LLC (“ENIBBP”). Upon acquisition, the legal name of ENIBBP was changed to Williams
Discovery Pipeline, LLC.
	 
	 	8.	 	The MLP formed the OLLC pursuant to the Delaware LLC Act and contributed $1,000
in exchange for all of the membership interests in the OLLC.
	 
	 	9.	 	[WNGL] formed Holdings pursuant to the Delaware LLC Act and contributed $1,000
in exchange for all of the membership interests in Holdings.
	 
	 	10.	 	WMNGL, WNGL, Espagas and MAPCO contributed all of the outstanding membership
interests in MCFS to Holdings in exchange for the proportionate membership interests in
Holdings.
	 
	 	11.	 	Williams Mobile Bay Producer Services, LLC (“WMBPS”) formed CTP
pursuant to the Delaware LLC Act and contributed the Carbonate Trend Pipeline to CTP in
exchange for all of the membership interests in CTP.
	 
	 	12.	 	WMBPS distributed all of the membership interest in CTP to Arctic Fox Assets
LLC (“AFA”)
	 
	 	13.	 	AFA distributed all of the outstanding membership interests in CTP to TWC,
which in turn contributed those membership interests to WES.
	 
	 	14.	 	The MLP, TWC and certain other TWC subsidiaries entered into an amendment and
restatement of the Existing Credit Agreement, to allow the MLP to borrow up to $75
million under the Existing Credit Agreement for general partnership purposes, including
acquisitions.

     WHEREAS, concurrently with the consummation of the transactions contemplated hereby, each of
the following shall occur:

	 	1.	 	MCFS will distribute to Holdings cash, receivables and other working capital
assets (“MCFS Working Capital Assets”) estimated to be approximately
$ ______million.
	 
	 	2.	 	CTP will distribute to WES cash, receivables and other working capital assets
(“CTP Working Capital Assets”) estimated to be approximately $ ______million.
	 
	 	3.	 	WES will contribute membership interests in CTP with an aggregate value equal
to 2% of the equity value of the MLP to GP LLC as a capital contribution.

-2-

 

	 	4.	 	GP LLC will contribute its membership interest in CTP to the MLP in exchange
for (a) a continuation of its 2% general partner interest and (b) the Incentive
Distribution Rights.
	 
	 	5.	 	WES will contribute its remaining membership interest in CTP to the MLP in
exchange for (a) 233,769 Common Units representing a 3.5% limited partner interest in
the MLP and (b) 898,406 Subordinated Units representing a 6.5% limited partner
interest in the MLP.
	 
	 	6.	 	WE will contribute to the MLP a 23.3% membership interest (the “WE
Discovery Interest”) in Discovery Producer Services, LLC (“Discovery”), in
exchange for (y) 517,633 Common Units representing a 7.7% limited partner
interest in the MLP and (z) 1,989,333 Subordinated Units representing
a 14.4% limited partner interest in the MLP.
	 
	 	7.	 	Williams Pipeline will contribute to the MLP its 16.7% membership interest (the
“Williams Pipeline Discovery Interest”) in Discovery, in exchange for (y)
284,432 Common Units representing a 4.2% limited partner interest in the MLP
and (z) 1,093,111 Subordinated Units representing a 7.9% limited partner interest
in the MLP.
	 
	 	8.	 	Holdings will contribute all of the outstanding membership interests in MCFS to
the MLP in exchange for (a) 722,787 Common Units representing a 10.7% limited
partner interest in the MLP and (b) 2,777,771 Subordinated Units representing a
20.2% limited partner interest in the MLP.
	 
	 	9.	 	The public, through the underwriters of the Offering, will contribute $[100.0]
million (the “Offering Proceeds”) to the MLP in exchange for 5,000,000 Common
Units, representing limited partner interests with a [86.25]% limited partner interest
in the MLP.
	 
	 	10.	 	The MLP will use the Offering Proceeds to (a) pay the underwriting discounts
and commissions, (b) distributes $[35.0] million to [WES/Williams Pipeline] to
reimburse for certain capital expenditures incurred prior to formation, (c) distributes
$[48.5] million to [any or all of the other transferors], (d) convey $[1.6] million in
cash to MCFS and CTP as capital contributions for them to replenish working capital and
(e) pay the approximately $[4.6] million of Offering expenses incurred by the MLP.
	 
	 	11.	 	The MLP will convey its interests in MCFS, CTP and Discovery to the OLLC as a
capital contribution.
	 
	 	12.	 	The agreements of limited partnership and the limited liability company
agreements of the aforementioned entities will be amended and restated to the extent
necessary to reflect the applicable matters set forth above and in Article I and
Article III of this Agreement.

-3-

 

     NOW, THEREFORE, in consideration of their mutual undertakings and agreements hereunder, the
Parties undertake and agree as follows:

ARTICLE I

DEFINITIONS; RECORDATION

     1.1 Definitions.
The following capitalized terms have the meanings given below.

     “Acts” shall mean collectively the Delaware Limited Partnership Act and the Delaware
LLC Act.

     “Agreement” means this Contribution, Conveyance and Assumption Agreement.

     “Assets” has the meaning assigned to such term in Section 5.1.

     “Beneficial Owner” has the meaning assigned to such term in Section 7.2.

     “Common Units” has the meaning assigned to such term in the Partnership Agreement.

     “CTP” has the meaning assigned to such term in the first paragraph of this Agreement.

     “CTP Aggregate Liabilities” shall mean, collectively, the CTP Liabilities and the CTP
Remaining Liabilities.

     “CTP Full Interest” shall mean, collectively, the CTP Interest and the CTP Remaining
Interest.

     “CTP Interest” has the meaning assigned to such term in Section 2.3.

     “CTP Liabilities” shall mean all liabilities and obligations of CTP relating to the
CTP Interest.

     “CTP Remaining Interest” has the meaning assigned to such term in Section 2.5.

     “CTP Remaining Liabilities” shall mean all liabilities and obligations of CTP relating
to the CTP Remaining Interest.

     “CTP Working Capital Assets” has the meaning assigned to such term in Item 2 of the
third Recital of this Agreement.

     “Delaware LLC Act” has the meaning assigned to such term in Item 1 of the second
Recital of this Agreement.

     “Delaware Limited Partnership Act” has the meaning assigned to such term in the
initial Recital of this Agreement.

     “Discovery” has the meaning assigned to such term in Item 6 of the third Recital of
this Agreement.

-4-

 

     “Discovery Aggregate Liabilities” shall mean, collectively, the WE Discovery
Liabilities and the Williams Pipeline Discovery Liabilities.

     “Discovery Interest” has the meaning assigned to such term in Section 2.14.

     “Effective Date” means _________, 2005.

     “Effective Time” means the time when the transactions contemplated by Article II
hereof have been consummated.

     “Espagas” has the meaning assigned to such term in Item 8 of the second Recital of
this Agreement.

     “Existing Credit Agreement” means the Credit Agreement, dated as of May 3, 2004, by
and among TWC, Northwest Pipeline Corporation and Transcontinental Gas Pipe Line Corporation, as
the borrowers, the lenders named therein, Citicorp USA, Inc., as administrative agent and
collateral agent, Citibank, N.A. and Bank of America, N.A., as the issuing banks, Bank of America,
N.A., as syndication agent, and JPMorgan Chase Bank, The Bank of Nova Scotia and The Royal Bank of
Scotland, PLC, as co-documentation agents.

     “GP LLC” has the meaning assigned to such term in the first paragraph of this
Agreement.

     “Holdings” has the meaning assigned to such term in the first paragraph of this
Agreement.

     “Incentive Distribution Rights” has the meaning assigned to such term in the
Partnership Agreement.

     “Laws” means any and all laws, statutes, ordinances, rules or regulations promulgated
by a governmental authority, orders of a governmental authority, judicial decisions, decisions of
arbitrators or determinations of any governmental authority or court.

     “MAPCO” has the meaning assigned to such term in Item 9 of the second Recital of this
Agreement.

     “MCFS” has the meaning assigned to such term in the first paragraph of this Agreement.

     “MCFS Interest” has the meaning assigned to such term in Section 2.8.

     “MCFS Liabilities” shall mean all liabilities and obligations of MCFS relating to the
MCFS Interest.

     “MCFS Working Capital Assets” has the meaning assigned to such term in Item 1 of the
third Recital of this Agreement.

     “MLP” has the meaning assigned to such term in the first paragraph of this Agreement.

     “MLP Aggregate Interests” has the meaning assigned to such term in Section 2.14.

-5-

 

     “MLP Aggregate Liabilities” shall mean, collectively, the MCFS Liabilities, the CTP
Aggregate Liabilities and the Discovery Aggregate Liabilities.

     “Offering” means the initial public offering and transfer of title of 5,000,000 Common
Units by the MLP to the public.

     “Offering Proceeds” has the meaning assigned to such term in Item 9 of the third
Recital of this Agreement.

     “OLLC” has the meaning assigned to such term in the first paragraph of this Agreement.

     “Omnibus Agreement” means the Omnibus Agreement dated of even date herewith, by and
among [TWC,] GP LLC, the MLP and the OLLC.

     “Partnership Agreement” means the Amended and Restated Agreement of Limited
Partnership of the MLP, as it may be amended and restated from time to time.

     “Partnership Group” has the meaning assigned to such term in the Omnibus Agreement.

     “Party and Parties” have the meanings assigned to such terms in the first paragraph of
this Agreement.

     “Registration Statement” means the registration statement on Form S-1 (File No.
333-124517) filed by the MLP relating to the Offering.

     “Restriction” has the meaning assigned to such term in Section 7.2.

     “Restriction Asset” has the meaning assigned to such term in Section 7.2.

     “Specific Conveyances” has the meaning assigned to such term in Section 2.15.

     “Subordinated Units” has the meaning assigned to such term in the Partnership
Agreement.

     “TWC” has the meaning assigned to such term in the initial Recital of this Agreement.

     “WE” has the meaning assigned to such term in the first paragraph of this Agreement.

     “WE Discovery Interest” has the meaning assigned to such term in Item 6 of the third
Recital of this Agreement.

     “WE Discovery Liabilities” shall mean all liabilities and obligations of Discovery
relating to the WE Discovery Interest.

     “WES” has the meaning assigned to such term in the first paragraph of this Agreement.

     “Williams Pipeline” has the meaning assigned to such term in the first paragraph of
this Agreement.

-6-

 

     “Williams Pipeline Discovery Interest” has the meaning assigned to such term in Item 6
of the third Recital of this Agreement.

     “Williams Pipeline Discovery Liabilities” shall mean all liabilities and obligations
of Discovery relating to the Williams Pipeline Discovery Interest.

     “WMBPS” has the meaning assigned to such term in Item 11 of the second Recital of this
Agreement.

     “WMNGL” has the meaning assigned to such term in Item 6 of the second Recital of this
Agreement.

     “WNGL” has the meaning assigned to such term in Item 7 of the second Recital of this
Agreement.

     1.2 Recordation of Evidence of Ownership of Assets.
In connection with the transfers under
the applicable Acts that are referred to in the recitals to this Agreement, the Parties acknowledge
that certain jurisdictions in which the assets of the applicable parties to such conversions and
dissolutions are located may require that documents be recorded by the entities resulting from such
transfers in order to evidence title to assets in such entities. All such documents shall evidence
such new ownership and are not intended to modify, and shall not modify, any of the terms,
covenants and conditions herein set forth.

ARTICLE II

THE OFFERING AND RELATED TRANSACTIONS

     2.1 Distribution of MCFS Working Capital Assets by MCFS to Holdings. MCFS hereby grants,
distributes, transfers, assigns and conveys to Holdings, its successors and assigns, for its and
their own use forever, all of its right, title and interest in and to the MCFS Working Capital
Assets, and Holdings hereby accepts the MCFS Working Capital Assets, subject to all matters to be
contained in the instruments of conveyance covering the MCFS Working Capital Assets to evidence
such distribution and conveyance, if any.

     TO HAVE AND TO HOLD the MCFS Working Capital Assets unto Holdings, its successors and assigns,
together with all and singular the rights and appurtenances thereto in anywise belonging, subject,
however, to the terms and conditions stated in this Agreement, and in such instruments of
conveyance forever.

     2.2 Distribution of CTP Working Capital Assets by CTP to WES.
CTP hereby grants, distributes,
transfers, assigns and conveys to WES, its successors and assigns, for its and their own use
forever, all of its right, title and interest in and to the CTP
Working Capital Assets, and WES hereby accepts the CTP Working Capital Assets, subject to all
matters to be contained in the instruments of conveyance covering the CTP Working Capital Assets to
evidence such distribution and conveyance, if any

     TO HAVE AND TO HOLD the CTP Working Capital Assets unto WES, its successors and assigns,
together with all and singular the rights and appurtenances thereto in anywise

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belonging, subject,
however, to the terms and conditions stated in this Agreement, and in such instruments of
conveyance forever.

     2.3 Contribution by WES to GP LLC of an Interest in CTP.
WES hereby grants, contributes,
transfers, assigns and conveys to GP LLC, its successors and assigns, for its and their own use
forever, all of its right, title and interest in and to a portion of its membership interest in CTP
equal to a 2% equity value of the MLP (the “CTP Interest”), and GP LLC hereby accepts the
CTP Interest.

     TO HAVE AND TO HOLD the CTP Interest unto GP LLC, its successors and assigns, together with
all and singular the rights and appurtenances thereto in anywise belonging, subject, however, to
the terms and conditions stated in this Agreement, forever.

     2.4 Contribution by GP LLC to the MLP of the CTP Interest. GP LLC hereby grants, contributes,
transfers, assigns and conveys to the MLP, its successors and assigns, for its and their own use
forever, all of the CTP Interest, and the MLP hereby accepts the CTP Interest as an additional
capital contribution in exchange for (a) a continuation of GP LLC’s 2% general partner interest in
the MLP and (b) the Incentive Distribution Rights.

     TO HAVE AND TO HOLD the CTP Interest unto the MLP, its successors and assigns, together with
all and singular the rights and appurtenances thereto in anywise belonging, subject, however, to
the terms and conditions stated in this Agreement, forever.

     2.5 Contribution by WES to the MLP of its Remaining Interest in CTP. WES hereby grants,
contributes, transfers, assigns and conveys to the MLP, its successors and assigns, for its and
their own use forever, all of its remaining membership interest in CTP (collectively, the “CTP
Remaining Interest”), and the MLP hereby accepts the CTP Remaining Interest as an additional
capital contribution in exchange for (a) 233,769 Common Units
representing a 3.5% limited partner
interest in the MLP and (b) 898,406 Subordinated Units representing a
6.5% limited partner interest
in the MLP.

     TO HAVE AND TO HOLD the CTP Remaining Interest unto the MLP, its successors and assigns,
together with all and singular the rights and appurtenances thereto in anywise belonging, subject,
however, to the terms and conditions stated in this Agreement, forever.

     2.6 Contribution by WE to the MLP of an Interest in Discovery.
WE hereby grants, contributes, transfers, assigns and conveys to the MLP, its successors
and assigns, for its and their own use forever, the WE Discovery Interest, and the MLP hereby
accepts the WE Discovery Interest as an additional capital contribution in exchange for (a)
517,633 Common Units representing a 7.7% limited partner interest in
the MLP and (b) 1,989,333
Subordinated Units representing a 14.4% limited partner interest in the MLP.

     TO HAVE AND TO HOLD the WE Discovery Interest unto the MLP, its successors and assigns,
together with all and singular the rights and appurtenances thereto in anywise belonging, subject,
however, to the terms and conditions stated in this Agreement, forever.

     2.7 Contribution by Williams Pipeline to the MLP of an Interest in Discovery.
Williams
Pipeline hereby grants, contributes, transfers, assigns and conveys to the MLP, its

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successors and
assigns, for its and their own use forever, the Williams Pipeline Discovery Interest, and the MLP
hereby accepts the Williams Pipeline Discovery Interest as an additional capital contribution in
exchange for (a) 284,432 Common Units representing a 4.2% limited partner interest in the MLP and (b)
1,093,111 Subordinated Units representing a 7.9% limited partner interest in the MLP.

     TO HAVE AND TO HOLD the Williams Pipeline Discovery Interest unto the MLP, its successors and
assigns, together with all and singular the rights and appurtenances thereto in anywise belonging,
subject, however, to the terms and conditions stated in this Agreement, forever.

     2.8 Contribution by Holdings to the MLP of All of Its Interests in MCFS.
Holdings hereby
grants, contributes, transfers, assigns and conveys to the MLP, its successors and assigns, for its
and their own use forever, all of its right, title and interest in and to its 100% membership
interest in MCFS (the “MCFS Interest”), and the MLP hereby accepts the MCFS Interest as an
additional capital contribution in exchange for (a) 722,787 Common
Units representing a 10.7% limited
partner interest in the MLP and (b) 2,777,771 Subordinated Units
representing a 20.2% limited partner
interest in the MLP.

     TO HAVE AND TO HOLD the MCFS Interest unto the MLP, its successors and assigns, together with
all and singular the rights and appurtenances thereto in anywise belonging, subject, however, to
the terms and conditions stated in this Agreement, forever.

     2.9 Public Cash Contribution.
The Parties acknowledge the cash contribution of the Offering
Proceeds from the public through the underwriters, to the MLP in connection with the Offering in
exchange for 5,000,000 Common Units, representing limited partner interests with a [36.25]% limited
partner interest in the MLP.

     2.10 MLP Receipt of Cash Contribution.
The MLP acknowledges receipt of the Offering Proceeds in cash as a capital contribution to
the MLP, and the Parties acknowledge that the MLP has used all of such capital contribution to (a)
pay the underwriting discounts and commissions (which may be withheld by the underwriters from the
Offering Proceeds as payment thereof), (b) distributes $[35.0] million to [WES/Williams Pipeline]
to reimburse for certain capital expenditures incurred prior to formation, (c) distributes $[48.5]
million to [any or all of the other transferors], (d) convey $[1.6] million in cash to MCFS and CTP
as capital contributions for them to replenish working capital and (e) pay the approximately $[4.6]
million of Offering expenses incurred by the MLP.

     2.11 MLP Cash Distribution to [TWC affiliates].

          (a) The Parties acknowledge the distribution by the MLP to [WES/Williams Pipeline] and the
receipt by [WES/Williams Pipeline] of $[35.0].

          (b) The Parties acknowledge the distribution by the MLP to [specify any or all other
transferors] and the receipt by [specify any or all other transferors] of $[48.5].

A portion of each of the above distributions has been made to satisfy the reimbursement for capital
expenditures of the above respective parties.

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     2.12 MCFS Receipt of Cash Contribution.
MCFS acknowledges receipt of $[ ] million in cash as
a capital contribution from the MLP, and the parties acknowledge that MCFS has used, or will use,
all of such capital contribution to provide working capital.

     2.13 CTP Receipt of Cash Contribution.
CTP acknowledges receipt of $[  ] million in cash as a
capital contribution from the MLP, and the parties acknowledge that CTP has used, or will use, all
of such capital contribution to provide working capital.

     2.14 Conveyance and Contribution by the MLP to the OLLC of its Interests in MCFS, CTP and
Discovery.
The MLP hereby grants, contributes, transfers, assigns and conveys to the OLLC, its
successors and assigns, for its and their own use forever, all of its right, title and interest in
and to (a) the MCFS Interest, (b) the CTP Full Interest and (c) its 40% membership interest in
Discovery (the “Discovery Interest” and, together with the MCFS Interest and the CTP Full
Interest, the “MLP Aggregate Interests”) and the OLLC hereby accepts the MLP Aggregate
Interests as an additional capital contribution.

     TO HAVE AND TO HOLD the MLP Aggregate Interests unto the OLLC, its successors and assigns,
together with all and singular the rights and appurtenances thereto in anywise belonging, subject,
however, to the terms and conditions stated in this Agreement, forever.

     2.15 Specific Conveyances.
To further evidence the contributions of the Assets reflected in
this Agreement, each party making such contribution may have executed and delivered to the party
receiving such contribution certain conveyance, assignment and bill of sale instruments (the
“Specific Conveyances”). The Specific Conveyances shall evidence and perfect such sale and
contribution made by this Agreement and shall not constitute a second conveyance of any assets or
interests therein and shall be subject to the terms of this Agreement.

ARTICLE III

ASSUMPTION OF CERTAIN LIABILITIES

     3.1 Assumption of CTP Liabilities by GP LLC.
In connection with the contribution by WES of
the CTP Interest to GP LLC, as set forth in Section 2.3 above, GP LLC hereby assumes and agrees to
duly and timely pay, perform and discharge all of the CTP Liabilities, to the full extent that WES
has been heretofore or would have been in the future obligated to pay, perform and discharge the
CTP Liabilities were it not for the execution and delivery of this Agreement; provided, however,
that said assumption and agreement to duly and timely pay, perform and discharge the CTP
Liabilities shall not (a) increase the obligation of GP LLC with respect to the CTP Liabilities
beyond that of WES, (b) waive any valid defense that was available to WES with respect to the CTP
Liabilities or (c) enlarge any rights or remedies of any third party under any of the CTP
Liabilities.

     3.2 Assumption of CTP Liabilities by the MLP.
In connection with the contribution by GP LLC
to the MLP of the CTP Interest as set forth in Section 2.4 above, the MLP hereby assumes and agrees
to duly and timely pay, perform and discharge all of the CTP Liabilities, to the full extent that
GP LLC has been heretofore or would have been in the future obligated to pay, perform and discharge
such obligations and liabilities were it not for the execution and delivery of this Agreement;
provided, however, that said assumption and

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agreement to duly and timely pay, perform and discharge
the CTP Liabilities shall not (a) increase the obligation of the MLP with respect to the CTP
Liabilities beyond that of GP LLC, (b) waive any valid defense that was available to GP LLC with
respect to the CTP Liabilities or (c) enlarge any rights or remedies of any third party under any
of the CTP Liabilities.

     3.3 Assumption of CTP Remaining Liabilities by the MLP.
In connection with the contribution
by WES to the MLP of the CTP Remaining Interest as set forth in Section 2.5 above, the MLP hereby
assumes and agrees to duly and timely pay, perform and discharge all of the CTP Remaining
Liabilities, to the full extent that WES has been heretofore or would have been in the future
obligated to pay, perform and discharge such obligations and liabilities were it not for the
execution and delivery of this Agreement; provided, however, that said assumption and agreement to
duly and timely pay, perform and discharge the CTP Remaining Liabilities shall not (a) increase the
obligation of the MLP with respect to the CTP Remaining Liabilities beyond that of WES, (b) waive
any valid defense that was available
to WES with respect to the CTP Remaining Liabilities or (c) enlarge any rights or remedies of
any third party under any of the CTP Remaining Liabilities.

     3.4 Assumption of WE Discovery Liabilities by the MLP.
In connection with the contribution by
WE to the MLP of the WE Discovery Interest as set forth in Section 2.6 above, the MLP hereby
assumes and agrees to duly and timely pay, perform and discharge all of the WE Discovery
Liabilities, to the full extent that WE has been heretofore or would have been in the future
obligated to pay, perform and discharge such obligations and liabilities were it not for the
execution and delivery of this Agreement; provided, however, that said assumption and agreement to
duly and timely pay, perform and discharge the WE Discovery Liabilities shall not (a) increase the
obligation of the MLP with respect to the WE Discovery Liabilities beyond that of WE, (b) waive any
valid defense that was available to WE with respect to the WE Discovery Liabilities or (c) enlarge
any rights or remedies of any third party under any of the WE Discovery Liabilities.

     3.5 Assumption of Williams Pipeline Discovery Liabilities by the MLP.
In connection with the
contribution by Williams Pipeline to the MLP of the Williams Pipeline Discovery Interest as set
forth in Section 2.7 above, the MLP hereby assumes and agrees to duly and timely pay, perform and
discharge all of the Williams Pipeline Discovery Liabilities, to the full extent that Williams
Pipeline has been heretofore or would have been in the future obligated to pay, perform and
discharge such obligations and liabilities were it not for the execution and delivery of this
Agreement; provided, however, that said assumption and agreement to duly and timely pay, perform
and discharge the Williams Pipeline Discovery Liabilities shall not (a) increase the obligation of
the MLP with respect to the Williams Pipeline Discovery Liabilities beyond that of Williams
Pipeline, (b) waive any valid defense that was available to Williams Pipeline with respect to the
Williams Pipeline Discovery Liabilities or (c) enlarge any rights or remedies of any third party
under any of the Williams Pipeline Discovery Liabilities.

     3.6 Assumption of MCFS Liabilities by the MLP.
In connection with the contribution by
Holdings to the MLP of the MCFS Interest as set forth in Section 2.8 above, the MLP hereby assumes
and agrees to duly and timely pay, perform and discharge all of the MCFS Liabilities, to the full
extent that Holdings has been heretofore or would have been in the future obligated to pay, perform
and discharge such obligations and liabilities were it not for the

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execution and delivery of this
Agreement; provided, however, that said assumption and agreement to duly and timely pay, perform
and discharge the MCFS Liabilities shall not (a) increase the obligation of the MLP with respect to
the MCFS Liabilities beyond that of Holdings, (b) waive any valid defense that was available to
Holdings with respect to the MCFS Liabilities or (c) enlarge any rights or remedies of any third
party under any of the MCFS Liabilities.

     3.7 Assumption of MLP Aggregate Liabilities by the OLLC.
In connection with the contribution
by the MLP to the OLLC of the MLP Aggregate Interests as set forth in Section 2.14 above, the OLLC
hereby assumes and agrees to duly and
timely pay, perform and discharge all of the MLP Aggregate Liabilities, to the full extent
that the MLP has been heretofore or would have been in the future obligated to pay, perform and
discharge such obligations and liabilities were it not for the execution and delivery of this
Agreement; provided, however, that said assumption and agreement to duly and timely pay, perform
and discharge the MLP Aggregate Liabilities shall not (a) increase the obligation of the OLLC with
respect to the MLP Aggregate Liabilities beyond that of the MLP, (b) waive any valid defense that
was available to the MLP with respect to the MLP Aggregate Liabilities or (c) enlarge any rights or
remedies of any third party under any of the MLP Aggregate Liabilities.

     3.8 General Provisions Relating to Assumption of Liabilities.
Notwithstanding anything to the
contrary contained in this Agreement including, without limitation, the terms and provisions of
this Article III, none of the Parties shall be deemed to have assumed, and none of the Assets have
been or are being contributed subject to, (a) any liens or security interests securing consensual
indebtedness covering any of the Assets, except to the extent set forth on a schedule to this
Agreement, and all such liens and security interests shall be deemed to be excluded from the
assumptions of liabilities made under this Article III or (b) any of the liabilities covered by the
indemnities set forth in the Omnibus Agreement to the extent such liabilities are covered by such
indemnities, and all such liabilities shall be deemed to be excluded from the assumptions of
liabilities made under this Article III to the extent that such liabilities are covered by such
indemnities.

ARTICLE IV

ADDITIONAL TRANSACTION

     4.1 Purchase of Additional Common Units.

 The Parties acknowledge that in the event the
underwriters exercise their option to purchase additional Common Units, the MLP shall use any net
proceeds therefrom to redeem from [ ] a number of Common Units held by [ ] equal to the number of
Common Units issued upon exercise of the option to purchase additional Common Units, at a price per
Common Unit equal to the net proceeds per Common Unit received by the MLP after underwriting
discounts and commissions but before other expenses.

ARTICLE V

TITLE MATTERS

     5.1 Encumbrances.

               (a) Except to the extent provided in Section 3.8 or any other document executed in connection
with this Agreement or the Offering including, without limitation, the

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Omnibus Agreement, the
contribution and conveyance (by operation of law or otherwise) of the various physical assets as
reflected in this Agreement (collectively, the “Assets”) are made expressly subject to all
recorded encumbrances, agreements, defects, restrictions, and adverse claims covering the
respective Assets and all laws, rules, regulations, ordinances, judgments and orders of
governmental authorities or tribunals having or asserting jurisdiction over the Assets
and operations conducted thereon or therewith, in each case to the extent the same are valid
and enforceable and affect the Assets, including, without limitation, (i) all matters that a visual
inspection of the Assets would reflect, (ii) the applicable liabilities assumed in Section 3.8, and
(iii) all matters contained in the Specific Conveyances.

               (b) To the extent that certain jurisdictions in which the Assets are located may require that
documents be recorded in order to evidence the transfers of title reflected in this Agreement, then
the provisions set forth in Section 5.1(a) immediately above shall also be applicable to the
conveyances under such documents.

     5.2 Disclaimer of Warranties; Subrogation; Waiver of Bulk Sales Laws.

               (a) EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION
WITH THIS AGREEMENT OR THE OFFERING INCLUDING, WITHOUT LIMITATION THE OMNIBUS AGREEMENT, THE
PARTIES ACKNOWLEDGE AND AGREE THAT NONE OF THE PARTIES HAS MADE, DOES NOT MAKE, AND EACH SUCH PARTY
SPECIFICALLY NEGATES AND DISCLAIMS, ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS,
AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS, IMPLIED OR
STATUTORY, ORAL OR WRITTEN, PAST OR PRESENT, REGARDING (A) THE VALUE, NATURE, QUALITY OR CONDITION
OF THE ASSETS INCLUDING, WITHOUT LIMITATION, THE ENVIRONMENTAL CONDITION OF THE ASSETS GENERALLY,
INCLUDING THE PRESENCE OR LACK OF HAZARDOUS SUBSTANCES OR OTHER MATTERS ON THE ASSETS, (B) THE
INCOME TO BE DERIVED FROM THE ASSETS, (C) THE SUITABILITY OF THE ASSETS FOR ANY AND ALL ACTIVITIES
AND USES THAT MAY BE CONDUCTED THEREON, (D) THE COMPLIANCE OF OR BY THE ASSETS OR THEIR OPERATION
WITH ANY LAWS (INCLUDING WITHOUT LIMITATION ANY ZONING, ENVIRONMENTAL PROTECTION, POLLUTION OR LAND
USE LAWS, RULES, REGULATIONS, ORDERS OR REQUIREMENTS), OR (E) THE HABITABILITY, MERCHANTABILITY,
MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE ASSETS. EXCEPT TO THE
EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT OR
THE OFFERING INCLUDING, WITHOUT LIMITATION, THE OMNIBUS AGREEMENT, THE PARTIES ACKNOWLEDGE AND
AGREE THAT EACH HAS HAD THE OPPORTUNITY TO INSPECT THE RESPECTIVE ASSETS, AND EACH IS RELYING
SOLELY ON ITS OWN INVESTIGATION OF THE RESPECTIVE ASSETS AND NOT ON ANY INFORMATION PROVIDED OR TO
BE PROVIDED BY ANY OF THE PARTIES. EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR
DELIVERED IN CONNECTION WITH THIS AGREEMENT OR THE OFFERING INCLUDING, WITHOUT LIMITATION, THE
OMNIBUS AGREEMENT, NONE OF THE PARTIES IS LIABLE OR BOUND IN ANY MANNER BY ANY VERBAL OR

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WRITTEN
STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE ASSETS FURNISHED BY ANY AGENT,
EMPLOYEE, SERVANT OR THIRD PARTY. EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT
EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT OR THE OFFERING INCLUDING, WITHOUT
LIMITATION, THE OMNIBUS AGREEMENT, EACH OF THE PARTIES ACKNOWLEDGES THAT TO THE MAXIMUM EXTENT
PERMITTED BY LAW, THE CONTRIBUTION OF THE ASSETS AS PROVIDED FOR HEREIN IS MADE IN AN “AS IS”,
“WHERE IS” CONDITION WITH ALL FAULTS, AND THE ASSETS ARE CONTRIBUTED AND CONVEYED SUBJECT TO ALL OF
THE MATTERS CONTAINED IN THIS SECTION. THIS SECTION SHALL SURVIVE SUCH CONTRIBUTION AND CONVEYANCE
OR THE TERMINATION OF THIS AGREEMENT. THE PROVISIONS OF THIS SECTION HAVE BEEN NEGOTIATED BY THE
PARTIES AFTER DUE CONSIDERATION AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY
REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT TO THE ASSETS
THAT MAY ARISE PURSUANT TO ANY LAW NOW OR HEREAFTER IN EFFECT, OR OTHERWISE, EXCEPT AS SET FORTH IN
THIS AGREEMENT OR ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT OR THE
OFFERING, INCLUDING, WITHOUT LIMITATION, THE OMNIBUS AGREEMENT.

               (b) To the extent that certain jurisdictions in which the Assets are located may require that
documents be recorded in order to evidence the transfers of title reflected in this Agreement, then
the disclaimers set forth in Section 5.2(a) immediately above shall also be applicable to the
conveyances under such documents.

               (c) The contributions of the Assets made under this Agreement are made with full rights of
substitution and subrogation of the respective parties receiving such contributions, and all
persons claiming by, through and under such parties, to the extent assignable, in and to all
covenants and warranties by the predecessors-in-title of the parties contributing the Assets, and
with full subrogation of all rights accruing under applicable statutes of limitation and all rights
of action of warranty against all former owners of the Assets.

               (d) Each of the Parties agrees that the disclaimers contained in this Section 5.2 are
“conspicuous” disclaimers. Any covenants implied by statute or law by the use of the words
“grant,” “convey,” “bargain,” “sell,” “assign,” “transfer,” “deliver,” or “set over” or any of them
or any other words used in this Agreement or any exhibits hereto are hereby expressly disclaimed,
waived or negated.

               (e) Each of the Parties hereby waives compliance with any applicable bulk sales law or any
similar law in any applicable jurisdiction in respect of the transactions contemplated by this
Agreement.

ARTICLE VI

FURTHER ASSURANCES

     6.1 Further Assurances.
From time to time after the date hereof, and without any further
consideration, the Parties agree to execute, acknowledge and deliver all such additional

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deeds,
assignments, bills of sale, conveyances, instruments, notices, releases, acquittances and other
documents, and will do
all such other acts and things, all in accordance with applicable law, as may be necessary or
appropriate (a) more fully to assure that the applicable Parties own all of the properties, rights,
titles, interests, estates, remedies, powers and privileges granted by this Agreement, or which are
intended to be so granted, (b) more fully and effectively to vest in the applicable Parties and
their respective successors and assigns beneficial and record title to the interests contributed
and assigned by this Agreement or intended so to be and (c) to more fully and effectively carry out
the purposes and intent of this Agreement.

     6.2 Other Assurances.
From time to time after the date hereof, and without any further
consideration, each of the Parties shall execute, acknowledge and deliver all such additional
instruments, notices and other documents, and will do all such other acts and things, all in
accordance with applicable law, as may be necessary or appropriate to more fully and effectively
carry out the purposes and intent of this Agreement. It is the express intent of the Parties that
the MLP or its subsidiaries own all assets necessary to operate the assets that are identified in
this Agreement and in the Registration Statement. To the extent any assets were not identified but
are necessary to the operation of assets that were identified, then the intent of the Parties is
that all such unidentified assets are intended to be conveyed to the appropriate members of the
Partnership Group. To the extent such assets are identified at a later date, the Parties shall
take the appropriate actions required in order to convey all such assets to the appropriate members
of the Partnership Group. Likewise, to the extent that assets are identified at a later date that
were not intended by the parties to be conveyed as reflected in the Registration Statement, the
Parties take the appropriate actions required in order to convey all such assets to the appropriate
party.

ARTICLE VII

MISCELLANEOUS

     7.1 Order of Completion of Transactions.
The transactions provided for in Article II and
Article III of this Agreement shall be completed on the Effective Date in the following order:

   First, the transactions provided for in Article II shall be completed in the order set
forth therein; and

   Second, the transactions provided for in Article III shall be completed in the order
set forth therein.

     7.2 Consents; Restriction on Assignment.
If there are prohibitions against or conditions to
the contribution and conveyance of one or more of the Assets without the prior written consent of
third parties, including, without limitation, governmental agencies (other than consents of a
ministerial nature which are normally granted in the ordinary course of business), which if not
satisfied would result in a breach of such prohibitions or conditions or would give an outside
party the right to terminate rights of the Party to whom the applicable Assets were intended to be
conveyed (the “Beneficial Owner”) with respect to such portion of the Assets (herein called
a “Restriction”), then any provision contained
in this Agreement to the contrary notwithstanding, the transfer of title to or interest in
each such portion of the Assets (herein

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called the “Restriction Asset”) pursuant to this
Agreement shall not become effective unless and until such Restriction is satisfied, waived or no
longer applies. When and if such a Restriction is so satisfied, waived or no longer applies, to
the extent permitted by applicable law and any applicable contractual provisions, the assignment of
the Restriction Asset subject thereto shall become effective automatically as of the Effective
Time, without further action on the part of any Party. Each of the applicable Parties that were
involved with the conveyance of a Restriction Asset agree to use their reasonable best efforts to
obtain on a timely basis satisfaction of any Restriction applicable to any Restriction Asset
conveyed by or acquired by any of them. The description of any portion of the Assets as a
“Restriction Asset” shall not be construed as an admission that any Restriction exists with respect
to the transfer of such portion of the Assets. In the event that any Restriction Asset exists, the
applicable Party agrees to continue to hold such Restriction Asset in trust for the exclusive
benefit of the applicable Party to whom such Restriction Asset was intended to be conveyed and to
otherwise use its reasonable best efforts to provide such other Party with the benefits thereof,
and the party holding such Restriction Asset will enter into other agreements, or take such other
action as it may deem necessary, in order to ensure that the applicable Party to whom such
Restriction Asset was intended to be conveyed has the assets and concomitant rights necessary to
enable the applicable Party to operate such Restriction Asset in all material respects as it was
operated prior to the Effective Time.

     7.3 Costs.
The OLLC shall pay all sales, use and similar taxes arising out of the
contributions, conveyances and deliveries to be made hereunder, and shall pay all documentary,
filing, recording, transfer, deed, and conveyance taxes and fees required in connection therewith.
In addition, the OLLC shall be responsible for all costs, liabilities and expenses (including court
costs and reasonable attorneys’ fees) incurred in connection with the satisfaction or waiver of any
Restriction pursuant to Section 7.2 to the extent such Restriction was set forth in the disclosure
letter referencing this Agreement delivered to the OLLC on or before the Effective Date.

     7.4 Headings; References; Interpretation.
All Article and Section headings in this Agreement
are for convenience only and shall not be deemed to control or affect the meaning or construction
of any of the provisions hereof. The words “hereof,” “herein” and “hereunder” and words of similar
import, when used in this Agreement, shall refer to this Agreement as a whole, including without
limitation, all Schedules attached hereto, and not to any particular provision of this Agreement.
All references herein to Articles, Sections, and Schedules shall, unless the context requires a
different construction, be deemed to be references to the Articles, Sections and Schedules of this
Agreement, respectively, and all such Schedules attached hereto are hereby incorporated herein and
made a part hereof for all purposes. All personal pronouns used in this Agreement, whether used in
the masculine, feminine or neuter gender, shall include all other genders, and the singular shall
include the plural and vice versa. The use herein of the word “including” following any general
statement, term or matter shall not be construed to limit such statement, term or matter to the
specific items or matters set forth immediately following such word or to similar items or matters,
whether or not non-limiting language (such as “without limitation,” “but not limited to,” or words
of similar
import) is used with reference thereto, but rather shall be deemed to refer to all other items
or matters that could reasonably fall within the broadest possible scope of such general statement,
term or matter.

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     7.5 Successors and Assigns.
The Agreement shall be binding upon and inure to the benefit of
the parties signatory hereto and their respective successors and assigns.

     7.6 No Third Party Rights.
The provisions of this Agreement are intended to bind the parties
signatory hereto as to each other and are not intended to and do not create rights in any other
person or confer upon any other person any benefits, rights or remedies and no person is or is
intended to be a third party beneficiary of any of the provisions of this Agreement.

     7.7 Counterparts.
This Agreement may be executed in any number of counterparts, all of which
together shall constitute one agreement binding on the parties hereto.

     7.8 Governing Law.
This Agreement shall be governed by, and construed in accordance with, the
laws of the State of [Texas] applicable to contracts made and to be performed wholly within such
state without giving effect to conflict of law principles thereof, except to the extent that it is
mandatory that the law of some other jurisdiction, wherein the Assets are located, shall apply.

     7.9 Severability.
If any of the provisions of this Agreement are held by any court of
competent jurisdiction to contravene, or to be invalid under, the laws of any political body having
jurisdiction over the subject matter hereof, such contravention or invalidity shall not invalidate
the entire Agreement. Instead, this Agreement shall be construed as if it did not contain the
particular provision or provisions held to be invalid, and an equitable adjustment shall be made
and necessary provision added so as to give effect to the intention of the Parties as expressed in
this Agreement at the time of execution of this Agreement.

     7.10 Deed; Bill of Sale; Assignment.
To the extent required and permitted by applicable law,
this Agreement shall also constitute a “deed,” “bill of sale” or “assignment” of the Assets and
interests referenced herein.

     7.11 Amendment or Modification.
This Agreement may be amended or modified from time to time
only by the written agreement of all the Parties hereto and affected thereby.

     7.12 Integration.
This Agreement and the instruments referenced herein supersede all previous
understandings or agreements among the Parties, whether oral or written, with respect to its
subject matter. This Agreement and such instruments contain the entire understanding of the
Parties with respect to the subject matter hereof and thereof. No understanding, representation,
promise or agreement, whether oral or written, is intended to be or shall be included in or form
part of this Agreement unless it is contained in a written amendment hereto executed by the Parties
hereto after the date of this Agreement.

-17-

 

     IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the date
first above written.

	 	 	 
	 

	 	WILLIAMS ENERGY SERVICES,
	 

	 	a Delaware limited liability company
	 
	 	 
	 

	 	By:_____________________________________________
	 
	 	 
	 

	 	Name:___________________________________________
	 
	 	 
	 

	 	Title:____________________________________________
	 
	 	 
	 

	 	“WES”

	 
	 	 
	 

	 	WILLIAMS PARTNERS GP LLC,
	 

	 	a Delaware limited liability company
	 
	 	 
	 

	 	By:_____________________________________________
	 
	 	 
	 

	 	Name:___________________________________________
	 
	 	 
	 

	 	Title:____________________________________________
	 
	 	 
	 

	 	“GP LLC”

	 
	 	 
	 

	 	WILLIAMS PARTNERS L.P.,
	 

	 	a Delaware limited partnership
	 
	 	 
	 

	 	By: Williams Partners GP LLC, its general partner
	 
	 	 
	 

	 	By:_____________________________________________
	 
	 	 
	 

	 	Name:___________________________________________
	 
	 	 
	 

	 	Title:____________________________________________
	 
	 	 
	 

	 	“MLP”

 

 

	 	 	 
	 

	 	WILLIAMS PARTNERS OPERATING LLC,
	 

	 	a Delaware limited liability company
	 
	 	 
	 

	 	By:_____________________________________________
	 
	 	 
	 

	 	Name:___________________________________________
	 
	 	 
	 

	 	Title:____________________________________________
	 
	 	 
	 

	 	“OLLC”

	 
	 	 
	 

	 	WILLIAMS ENERGY LLC,
	 

	 	a Delaware limited liability company
	 
	 	 
	 

	 	By:_____________________________________________
	 
	 	 
	 

	 	Name:___________________________________________
	 
	 	 
	 

	 	Title:____________________________________________
	 
	 	 
	 

	 	“WE”

	 
	 	 
	 

	 	WILLIAMS DISCOVERY PIPELINE, LLC,
	 

	 	a Delaware limited liability company
	 
	 	 
	 

	 	By:_____________________________________________
	 
	 	 
	 

	 	Name:___________________________________________
	 
	 	 
	 

	 	Title:____________________________________________
	 
	 	 
	 

	 	“Williams Pipeline”

	 
	 	 
	 

	 	WILLIAMS PARTNERS HOLDINGS LLC,
	 

	 	a Delaware limited liability company
	 
	 	 
	 

	 	By:_____________________________________________
	 
	 	 
	 

	 	Name:___________________________________________
	 
	 	 
	 

	 	Title:____________________________________________
	 
	 	 
	 

	 	“Holdings”

 

 

	 	 	 
	 

	 	MID-CONTINENT FRACTIONATION AND STORAGE, LLC, a Delaware
	 

	 	limited liability company
	 
	 	 
	 

	 	By:_____________________________________________
	 
	 	 
	 

	 	Name:___________________________________________
	 
	 	 
	 

	 	Title:____________________________________________
	 
	 	 
	 

	 	“MCFS”

	 
	 	 
	 

	 	CARBONATE TREND PIPELINE LLC,
	 

	 	a Delaware limited liability company
	 
	 	 
	 

	 	By:_____________________________________________
	 
	 	 
	 

	 	Name:___________________________________________
	 
	 	 
	 

	 	Title:____________________________________________
	 
	 	 
	 

	 	“CTP”

 

 

Schedule 3.8

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