Document:

exv10w6

Exhibit 10.6

FORM OF SELECTED INVESTMENT ADVISOR AGREEMENT

     THIS SELECTED INVESTMENT ADVISOR AGREEMENT (the “Agreement”) is made and entered into as of
the day indicated on Exhibit A attached hereto and by this reference incorporated herein, by and
among CORPORATE PROPERTY ASSOCIATES 17 — GLOBAL INCORPORATED, a Maryland corporation (the
“Company”), CAREY FINANCIAL, LLC, a Delaware limited liability company (the “Dealer Manager”), and
the selected investment advisor (the “SIA”) identified in Exhibit A hereto.

     WHEREAS, the Company is offering shares of the Company (the “Shares”) to the general public,
pursuant to a public offering (the “Offering”) of the Shares pursuant to a Prospectus (as defined
below) filed with the Securities and Exchange Commission (the “SEC”); and

     WHEREAS, the Dealer Manager has agreed to use its best efforts to sell the Shares; and

     WHEREAS, the SIA is an entity, as designated in Exhibit A hereto, organized and presently in
good standing in the state or states designated in Exhibit A hereto, and presently registered as an
investment advisor under the Investment Advisers Act of 1940, as amended (the “Act”); and

     WHEREAS, the Company has a currently effective registration statement on Form S-11 (File No.
333-170225), including a final prospectus, for the registration of the Shares under the Securities
Act of 1933, as amended (such registration statement, as it may be amended, and the prospectus and
exhibits on file with the SEC, as well as any post-effective amendments or supplements to such
registration statement and any related registration statement filed under Rule 462(b) of the
Securities Act of 1933, as amended, and any prospectus relating to such registration statements,
being herein respectively referred to as the “Registration Statement” and the “Prospectus”); and

     WHEREAS, the offer and sale of the Shares shall be made pursuant to the terms and conditions
of the Registration Statement and the Prospectus and, further, pursuant to the terms and conditions
of all applicable federal securities laws and the applicable securities laws of all states in which
the Shares are offered and sold; and

     WHEREAS, the SIA is willing and desires to provide its clients with information concerning the
Shares and the procedures for subscribing for the Shares upon the terms and conditions herein set
forth;

     NOW, THEREFORE, in consideration of the premises and terms and conditions herein contained, it
is agreed between the Company, the Dealer Manager and the SIA as follows.

     1. Purchase of Shares.

     (a) The SIA hereby covenants, warrants and agrees that, in regard to any purchase of the
Shares by its clients, it will comply with all of the terms and conditions of the Registration
Statement and the Prospectus, all applicable state and federal laws, including Securities Act of
1933, as amended, the Act, and any and all regulations and rules pertaining thereto, heretofore or
hereafter issued by the SEC. Neither the SIA nor any other person shall have any authority to give
any information or make any representations in connection with the Shares other than as contained
in the Registration Statement and Prospectus, as amended and supplemented, and as is otherwise
expressly authorized in writing by the Dealer Manager.

     (b) Clients of the SIA, or the SIA on behalf of its clients, may, following receipt of written
notice by the SIA from the Dealer Manager of the effective date of the Registration Statement,

 

 

purchase the Shares according to all such terms as are contained in the Registration Statement and
the Prospectus. The SIA shall comply with all requirements set forth in the Registration Statement
and the Prospectus. The SIA shall use and distribute, in connection with the Shares, only the
Prospectus and, if necessary, any separate prospectus relating solely to the Company’s Distribution
Reinvestment and Stock Purchase Plan (“DRIP”), and such sales literature and advertising materials
which shall conform in all respects to any restrictions of local law and the applicable
requirements of the Securities Act of 1933, as amended, and which has been approved in writing by
the Dealer Manager. The Dealer Manager reserves the right to establish such additional procedures
as it may deem necessary to ensure compliance with the requirements of the Registration Statement
and the Prospectus, and the SIA shall comply with all such additional procedures to the extent that
it has received written notice thereof.

     (c) All monies received for purchase of any of the Shares shall be forwarded by the SIA to the
Company for delivery to Phoenix American Financial Services Inc. (“Phoenix”). Subscriptions will
be executed as described in the Registration Statement or as directed by the Company. Each SIA
receiving a subscriber’s check will deliver such check to Phoenix no later than the close of
business of the first business day after receipt of the subscription documents by the SIA.

     (d) During the full term of this Agreement the Dealer Manager shall have full authority to
take such action as it may deem advisable in respect to all matters pertaining to the performance
of the SIA under this Agreement.

     (e) The Shares may be purchased by clients of the SIA only where the Shares may be legally
offered and sold, only by such persons in such states who shall be legally qualified to purchase
the Shares, and only by such persons in such states in which the SIA is registered as an investment
advisor or exempt from any applicable registration requirements.

     (f) The SIA shall have no obligation under this Agreement to purchase on its clients’ behalf,
or advise its clients to purchase, any of the Shares.

     (g) The SIA will use every reasonable effort to assure that Shares are purchased only by
clients who:

          (i) meet the investor suitability standards, including the minimum income and net worth
standards established by the Company and set forth in the Prospectus, and minimum purchase
requirements set forth in the Registration Statement;

          (ii) can reasonably benefit from an investment in the Company based on each prospective
client’s overall investment objectives and portfolio structure;

          (iii) are able to bear the economic risk of the investment based on each prospective client’s
overall financial situation; and

          (iv) have an apparent understanding of: (a) the fundamental risks of the investment; (b) the
risk that the prospective client may lose the entire investment; (c) the lack of liquidity of the
Shares; (d) the restrictions on transferability of the Shares; (e) the background and
qualifications of the employees and agents of Carey Asset Management Corp., the advisor to the
Company; and (f) the tax consequences of an investment in the Shares.

     (h) The SIA will make the determinations required to be made by it pursuant to subparagraph
(g) above based on information it has obtained from each prospective client, including, at a
minimum, but not limited to, the prospective client’s age, investment objectives, investment
experience, income, net worth, financial situation, other investments of the prospective client, as
well as any other pertinent factors deemed by the SIA to be relevant.

- 2 -

 

     (i) In addition to complying with the provisions of subparagraph (g) above, and not in
limitation of any other obligations of the SIA to determine suitability imposed by state or federal
law, the SIA agrees that it will comply fully with the following provisions:

          (i) The SIA shall have reasonable grounds to believe, based upon information provided by the
client concerning such client’s investment objectives, other investments, financial situation and
needs, and upon any other information known by the SIA, that (A) each client of the SIA that
purchases Shares is or will be in a financial position appropriate to enable such client to realize
to a significant extent the benefits (including tax benefits) of an investment in the Shares, (B)
each client of the SIA that purchases Shares has a fair market net worth sufficient to sustain the
risks inherent in an investment in the Shares (including potential loss of investment and lack of
liquidity), and (C) the Shares otherwise are or will be a suitable investment for each client of
the SIA that purchases Shares, and the SIA shall maintain files disclosing the basis upon which the
determination of suitability was made;

          (ii) The SIA shall not execute any transaction involving the purchase of Shares in a
discretionary account without prior written approval of the transaction by the client;

          (iii) The SIA shall have reasonable grounds to believe, based upon the information made
available to it, that all material facts are adequately and accurately disclosed in the
Registration Statement and provide a basis for evaluating the Shares;

          (iv) In making the determination set forth in subparagraph (iii) above, the SIA shall evaluate
items of compensation, physical properties, tax aspects, financial stability and experience of the
sponsor, conflicts of interest and risk factors, appraisals, as well as any other information
deemed pertinent by it;

          (v) The SIA shall inform each prospective nondiscretionary client of all pertinent facts
relating to the liquidity and marketability of the Shares.

     (j) The SIA agrees to retain in its files, for a period of at least six years, information
which will establish that each purchaser of Shares falls within the permitted class of investors.

     (k) The SIA either (i) shall not purchase shares for its own account or (ii) shall hold for
investment any Shares purchased for its own account.

     (l) The SIA hereby confirms that it is familiar with Securities Act Release No. 4968 and Rule
15c2-8 under the Securities Exchange Act of 1934, as amended, relating to the distribution of
preliminary and final prospectuses, and confirms that it has complied and will comply therewith.

     (m) A sale of Shares shall be deemed to be completed only after the Company receives a
properly completed subscription agreement for Shares from the SIA evidencing the fact that the
client had received a final Prospectus for a period of not less than five full business days,
together with payment of the full purchase price of each purchased Share from a buyer who satisfies
each of the terms and conditions of the Registration Statement and Prospectus, and only after such
subscription agreement has been accepted in writing by the Company. The Company and the Dealer
Manager reserve the right to reject any transaction with a buyer, or freeze, reject or block the
assets of a buyer, that violates applicable anti-money laundering, economic sanctions, or other
laws and regulations.

     (n) Clients of a SIA who are not being charged direct transaction based fees in connection
with the purchase of the Shares by such SIA, shall purchase the Shares net of 6.5% selling
commissions, at a per Share purchase price of $9.35.

- 3 -

 

     2. Compensation to SIA. The Company and the Dealer Manager shall pay no fees,
commissions, or other compensation to the SIA.

     3. Association of the Dealer Manager with Other Advisors and Dealers. It is expressly
understood between the Dealer Manager and the SIA that the Dealer Manager may cooperate with
broker-dealers who are registered as broker-dealers with the Financial Industry Regulatory
Authority, Inc. (the “FINRA”) or with other investment advisors registered under the Act. Such
broker-dealers and investment advisors may enter into agreements with the Dealer Manager on terms
and conditions identical or similar to this Agreement and shall receive such rates of commission or
other fees as are agreed to between the Dealer Manager and the respective broker-dealers and
investment advisors and as are in accordance with the terms of the Registration Statement.

     4. Conditions of the SIA’s Obligations. The SIA’s obligations hereunder are subject,
during the full term of this Agreement and the Offering, to (a) the performance by the Dealer
Manager of its obligations hereunder and compliance by the Dealer Manager with the covenants set
forth in Section 7 hereof; and (b) the conditions that: (i) the Registration Statement shall become
and remain effective; and (ii) no stop order shall have been issued suspending the effectiveness of
the Offering.

     5. Conditions to the Dealer Manager’s Obligations. The obligations of the Dealer
Manager hereunder are subject, during the full term of this Agreement and the Offering, to the
conditions that: (a) at the effective date of the Registration Statement and thereafter during the
term of this Agreement while any Shares remain unsold, the Registration Statement shall remain in
full force and effect authorizing the offer and sale of the Shares; (b) no stop order suspending
the effectiveness of the Offering or other order restraining the offer or sale of the Shares shall
have been issued nor proceedings therefor initiated or threatened by any state regulatory agency or
the SEC; and (c) the SIA shall have satisfactorily performed all of its obligations hereunder and
complied with the covenants set forth in Section 6 hereof.

     6. Covenants of the SIA. The SIA covenants, warrants and represents, during the full
term of this Agreement, that:

     (a) The SIA is registered as an investment advisor under the Act.

     (b) Neither the SIA nor any person associated with the SIA is registered as a broker-dealer or
registered representative with the FINRA.

     (c) The SIA shall comply with all applicable federal and state securities laws, including,
without limitation, the disclosure requirements of the Act, and the provisions thereof requiring
disclosure of the existence of this Agreement and the compensation to be paid to the SIA hereunder.

     (d) The SIA shall maintain the records required by Section 204 of the Act, and Rule 204-2
thereunder in the form and for the periods required thereby.

     (e) The SIA has adopted and implemented an anti-money laundering program pursuant to Section
352 of the USA PATRIOT Act of 2001; the SIA has adopted and implemented a customer identification
program (“CIP”), in compliance with 31 C.F.R. §103.122 (the “CIP Rule”); the SIA (or its agent)
will perform the identification, verification, notice and documentation requirements with respect
to each investor, as required by the CIP Rule; further, the SIA will comply with applicable
economic sanctions regimes, including the laws, regulations and Executive Orders administered by
the U.S. Department of Treasury’s Office of Foreign Assets Control, including the list of Specially
Designated Nationals and Blocked Persons.

- 4 -

 

     7. Covenants of the Dealer Manager. The Dealer Manager covenants, warrants and
represents, during the full term of this Agreement, that:

     (a) The Dealer Manager shall inform the SIA whenever and as soon as it receives or learns of
any order issued by the SEC, any state regulatory agency or any other regulatory agency which
suspends the effectiveness of the Registration Statement or prevents the use of the Prospectus or
which otherwise prevents or suspends the offering or sale of the Shares, or receives notice of any
proceedings regarding any such order.

     (b) The Dealer Manager shall give the SIA written notice when the Registration Statement
becomes effective and shall deliver to the SIA such number of copies of the Prospectus, and any
supplements and amendments thereto, which are finally approved by the SEC, as the SIA may
reasonably request for sale of the Shares.

     (c) The Dealer Manager shall promptly notify the SIA of any post-effective amendments or
supplements to the Registration Statement or Prospectus, and shall furnish the SIA with copies of
any revised Prospectus and/or supplements and amendments to the Prospectus and/or any prospectus
relating solely to the DRIP.

     8. Payment of Costs and Expenses. The SIA shall pay all costs and expenses incident to
the performance of its obligations under this Agreement.

     9. Indemnification.

     (a) The SIA agrees to indemnify, defend and hold harmless the Company, the Dealer Manager,
their affiliates and their or its officers, directors, trustees, employees and agents, against all
losses, claims, demands, liabilities and expenses, joint or several, including reasonable legal and
other expenses incurred in defending such claims or liabilities, whether or not resulting in any
liability to the Company, the Dealer Manager, their affiliates and their or its officers,
directors, trustees, employees or agents, which they or any of them may incur arising out of (i)
the offer or sale (as such term is defined in the Securities Act of 1933, as amended) by the SIA,
or any person acting on its behalf, of any Shares pursuant to this Agreement, if such loss, claim,
demand, liability, or expense arises out of or is based upon an untrue statement or alleged untrue
statement of a material fact, or any omission or alleged omission of a material fact, other than a
statement, omission, or alleged omission by the SIA which is also, as the case may be, contained in
or omitted from the Prospectus or the Registration Statement and which statement or omission was
not based on information supplied to the Company or the Dealer Manager by such SIA; (ii) the breach
by the SIA, or any person acting on its behalf, of any of the terms and conditions of this
Agreement; or (iii) the negligence, malpractice or malfeasance of the SIA. This indemnity provision
shall survive the termination of this Agreement.

     (b) The Company and the Dealer Manager agree to indemnify, defend and hold harmless the SIA,
its officers, directors, employees and agents, against all losses, claims, demands, liabilities and
expenses, including reasonable legal and other expenses incurred in defending such claims or
liabilities, which they or any of them may incur, including, but not limited to, alleged violations
of the Securities Act of 1933, as amended, but only to the extent that such losses, claims,
demands, liabilities and expenses shall arise out of or be based upon (i) any untrue statement of a
material fact contained in the Registration Statement, at the time it became effective with the SEC
or in the Prospectus (as from time to time amended or supplemented), or (ii) any omission or
alleged omission to state therein a material fact required to be stated in the Prospectus or the
Registration Statement at the time it became effective or necessary to make such statements, and
any part thereof, not misleading; provided, further, that any such untrue statement, omission or
alleged omission is not based on information included in any such document which was supplied to
the Company or the Dealer

- 5 -

 

Manager, or any officer of the Company or the Dealer Manager by such SIA; provided that in
each case that such claims or liabilities did not arise from SIA’s own negligence, malpractice or
malfeasance. This indemnity provision shall survive the termination of this Agreement.

     (c) No indemnifying party shall be liable under the indemnity provisions contained in
subparagraphs (a) and (b) above unless the party to be indemnified shall have notified such
indemnifying party in writing promptly after the summons or other first legal process giving
information of the nature of the claim served upon the party to be indemnified, but failure to
notify an indemnifying party of any such claim shall not relieve it from any liabilities which it
may have to the indemnified party against whom action is brought other than on account of its
indemnity provision contained in subparagraphs (a) and (b) above. In the case of any such claim, if
the party to be indemnified notified the indemnifying party of the commencement thereof as
aforesaid, the indemnifying party shall be entitled to participate at its own expense in the
defense of such claim. If it so elects, in accordance with arrangements satisfactory to any other
indemnifying party or parties similarly notified, the indemnifying party has the option to assume
the entire defense of the claim, with counsel who shall be reasonably satisfactory to such
indemnified party and all other indemnified parties who are defendants in such action, unless such
indemnified parties reasonably objects to such assumption on the ground that there may be legal
defenses available to it which are different from or in addition to those available to such
indemnifying party. Any indemnified party shall have the right to employ a separate counsel in any
such action and to participate in the defense thereof but the reasonable fees and expenses of such
counsel shall be borne by such party unless such party has objected in accordance with the
preceding sentence, in which event such fees and expenses shall be borne by the indemnifying
parties. Except as set forth in the preceding sentence, if an indemnifying party assumes the
defense of such action, the indemnifying party shall not be liable for any fees and expenses of
separate counsel for the indemnified parties incurred thereafter in connection with such action. In
no event shall the indemnifying parties be liable for the reasonable fees and expenses of more than
one counsel for all indemnified parties in connection with any one action or separate but similar
or related actions in the same jurisdiction arising out of the same general allegations or
circumstances.

     10. Term of Agreement. This Agreement shall become effective on the date on which this
Agreement is executed by the Company, the Dealer Manager and the SIA. The SIA, the Company and the
Dealer Manager may prevent this Agreement from becoming effective, without liability to any other
party to this Agreement, by written notice before the time this Agreement otherwise would become
effective. After this Agreement becomes effective, any party may terminate it at any time for any
reason by giving thirty (30) days’ written notice to the other party; provided, however, that this
Agreement shall in any event automatically terminate at the first occurrence of any of the
following events: (a) the Registration Statement for the offer and sale of the Shares shall cease
to be effective; (b) the Offering shall be terminated; or (c) the SIA’s license or registration to
act as an investment advisor shall be revoked or suspended by any federal, self-regulatory or state
agency and such revocation or suspension is not cured within ten (10) days from the date of such
occurrence. In any event, this Agreement shall be deemed suspended during any period for which such
license or registration is revoked or suspended.

     11. Notices. All notices and communications hereunder shall be in writing and shall be
deemed to have been given and delivered when deposited in the United States mail, postage prepaid,
registered or certified mail, to the applicable address set forth below.

          If sent to the Company:

CORPORATE
PROPERTY ASSOCIATES 17 — GLOBAL INCORPORATED

50 Rockefeller Plaza

New York, NY 10020

- 6 -

 

Attention: Office of the General Counsel-Paul Marco, Esq.

CAREY FINANCIAL, LLC

50 Rockefeller Plaza

New York, NY 10020

Attention: Office of the General Counsel-Richard J. Paley, Esq.

     If sent to the SIA: to the person whose name and address are identified in Exhibit A hereto.

     12. Successors. This Agreement shall be binding upon and inure to the benefit of the
parties hereto, and shall not be assigned or transferred by the SIA by operation of law or
otherwise.

     13. Miscellaneous.

     (a) In order to meet its obligations under Federal law, the Dealer Manager or its designee may
obtain, verify, and record information that identifies the SIA and any person acting on the SIA’s
behalf, including the information provided in Exhibit A of this Agreement, and may ask to see
identifying documents or utilize various databases for this purpose.

     (b) This Agreement shall be construed in accordance with the applicable laws of the State of
New York.

     (c) Nothing in this Agreement shall constitute the SIA as in association with or in
partnership with the Company or the Dealer Manager.

     (d) The terms of this Agreement may be extended to cover additional offerings of shares of the
Company by the execution by the parties hereto of an addendum identifying the shares and
registration statement relating to such additional offering. Upon execution of such addendum, the
terms “Shares”, “Offering”, “Registration Statement” and “Prospectus” set forth herein shall be
deemed to be amended as set forth in such addendum.

     (e) This Agreement, including Exhibit A hereto, embodies the entire understanding, between the
parties to the Agreement, and no variation, modification or amendment to this Agreement shall be
deemed valid or effective unless it is in writing and signed by all the parties hereto.

     (f) If any provision of this Agreement shall be deemed void, invalid or ineffective for any
reason, the remainder of the Agreement shall remain in full force and effect.

     (g) This Agreement may be executed in counterpart copies, each of which shall be deemed an
original but all of which together shall constitute one and the same instrument comprising this
Agreement.

- 7 -

 

Exhibit 10.6

     IN WITNESS WHEREOF, the parties have executed this Agreement on the date and year indicated on
Exhibit A hereto.

      

COMPANY

CORPORATE PROPERTY ASSOCIATES 17 — GLOBAL
INCORPORATED

 

			
	By:	 	 
 

			
	Print Name:	 	 
 

			
	Title:	 	 
 

			
	Witness:	 	 
 

 

DEALER MANAGER

CAREY FINANCIAL, LLC

 

			
	By:	 	 
 

			
	Print Name:	 	 
 

			
	Title:	 	 
 

			
	Witness:	 	 
 

 

SELECTED INVESTMENT ADVISOR

			
	Name of SIA:	 	 
 

			
	By:	 	 
 

			
	Print Name:	 	 
 

			
	Title:	 	 
 

			
	Witness:	 	 
 

 

 

EXHIBIT A TO SELECTED INVESTMENT ADVISOR AGREEMENT

          This Exhibit A is attached to and made a part of that certain Selected Investment Advisor
Agreement (the “Agreement”), dated as of the ________day of __________by and among Corporate
Property Associates 17 — Global Incorporated, as Company, Carey Financial, LLC, as Dealer Manager
and_______________, as Selected Investment Advisor.

	         	 	 	 	 

	1.

	 	Date of Agreement:
	 	 
	 	 	 	 	 

	         	 	 	 	 

	2.

	 	Identity of Selected Investment Advisor:
	 	 
	 	 	 	 	 

	         	 	 	 	 

	 

	 	Name:
	 	 
	 	 	 	 	 

	          	 	 	 	 

	 

	 	Address (i.e., principal place of business, local office or other physical location):
	 	 
	 	 	 	 	 

	          	 	 	 	 

	 

	 	Taxpayer Identification Number:
	 	 
	 	 	 	 	 

	         	 	 	 	 

	 

	 	Type of Entity:
	 	 
	 	 	 	 	 
	 	 	(To be completed by the Selected Investment Advisor, e.g., corporation, partnership or sole
proprietorship.)

	          	 	 	 	 

	 

	 	State Organized in:
	 	 
	 	 	 	 	 
	 	 	(To be completed by Selected Investment Advisor)

Qualified To Do Business and in Good Standing in the Following Jurisdictions (including your state
of organization). (Note: Qualification to do business in any jurisdiction is generally a
requirement imposed by the secretary of state or other authority of jurisdictions in which you do
business, and is not related to your holding a license as an investment advisor in such
jurisdictions. Questions concerning this matter should be directed to you or your legal counsel.)

 

(To be completed by the Selected Investment Advisor)

Registered as an Investment Advisor in The Following States:

 

(To be completed by the Selected Investment Advisor)

	         	 	 	 	 

	3.	 	Name and Address for Notice Purposes (see Section 11 of Agreement):
	 

	 	Name:
	 	 
	 	 	 	 	 

	         	 	 	 	 

	 

	 	Title:
	 	 
	 	 	 	 	 

	         	 	 	 	 

	 

	 	Company:
	 	 
	 	 	 	 	 

	         	 	 	 	 

	 

	 	Address:
	 	 
	 	 	 	 	 

	           	 	 	 	 

	 

	 	City, State and Zip: Telephone Number (including area code):
	 	 
	 	 	 	 	 

	         	 	 	 	 

	4.	 	Please complete the following for our records:
	 
	 	 	 	 
	 

	 	(a)
	 	How many registered investment advisors are with your firm?                         
	 
	 	 	 	 
	 

	 	 	 	PLEASE ENCLOSE A CURRENT LIST. ALL INFORMATION WILL BE HELD IN CONFIDENCE.

Exhibit A to

Selected Investment Advisor Agreement

 

 

	 	(b)	 	Does your firm publish a newsletter? Yes       No      
	 
	 	 	 	What is/are the frequency of the publication(s)?

	 	 	 	Weekly           Monthly           Quarterly          
	 
	 	 	 	Bi-weekly           Bi-monthly           Other            (please specify)

	 	 	 	PLEASE PLACE CORPORATE PROPERTY ASSOCIATES 17 — GLOBAL INCORPORATED AND CAREY
FINANCIAL, LLC ON YOUR MAILING LIST AND PROVIDE A SAMPLE OF THE PUBLICATION IF
AVAILABLE.
	 
	 	(c)	 	Does your firm have regular internal mailings, or bulk package mailings to its
registered investment advisors?

	 	 	 	Yes       No      

	 	 	 	PLEASE PLACE CORPORATE PROPERTY ASSOCIATES 17 — GLOBAL INCORPORATED AND CAREY
FINANCIAL, LLC ON YOUR MAILING LIST AND PROVIDE A SAMPLE OF THE PUBLICATION IF
AVAILABLE.
	 
	 	(d)	 	Does your firm have a computerized electronic mail (E-Mail) system for your registered investment advisors?

Yes _____No _____

			
	If so, please provide e-mail address:	 	
 

			
	(e) Website address:	 	
 

			
	Person responsible:	 	
 

Exhibit A to

Selected Investment Advisor Agreementexv4w1

Exhibit 4.1

 

NII Capital Corp.

% SENIOR NOTES DUE

 

Indenture

Dated as of       

 

Wilmington Trust Company

Trustee

 

 

 

CROSS-REFERENCE TABLE*

	 	 	 	 	 
	  Trust Indenture	 	 
	     Act Section	 	Indenture Section
	310(a)(1)
	 	 	7.10	 
	(a)(2)
	 	 	7.10	 
	(a)(3)
	 	 	N.A.	 
	(a)(4)
	 	 	N.A.	 
	(a)(5)
	 	 	7.10	 
	(b)
	 	 	7.10	 
	(c)
	 	 	N.A.	 
	311(a)
	 	 	7.11	 
	(b)
	 	 	7.11	 
	(c)
	 	 	N.A.	 
	312(a)
	 	 	2.06	 
	(b)
	 	 	12.03	 
	(c)
	 	 	12.03	 
	313(a)
	 	 	7.06	 
	(b)(1)
	 	 	N.A.	 
	(b)(2)
	 	 	7.06, 7.07	 
	(c)
	 	 	7.06, 12.02	 
	(d)
	 	 	7.06	 
	314(a)
	 	 	12.05	 
	(b)
	 	 	N.A.	 
	(c)(1)
	 	 	N.A.	 
	(c)(2)
	 	 	N.A.	 
	(c)(3)
	 	 	N.A.	 
	(d)
	 	 	N.A.	 
	(e)
	 	 	12.05	 
	(f)
	 	 	N.A.	 
	315(a)
	 	 	N.A.	 
	(b)
	 	 	N.A.	 
	(c)
	 	 	N.A.	 
	(d)
	 	 	N.A.	 
	(e)
	 	 	N.A.	 
	316(a)(last sentence)
	 	 	N.A.	 
	(a)(1)(A)
	 	 	N.A.	 
	(a)(1)(B)
	 	 	N.A.	 
	(a)(2)
	 	 	N.A.	 
	(b)
	 	 	N.A.	 
	(c)
	 	 	12.14	 
	317(a)(1)
	 	 	N.A.	 

 

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

 

	 	 	 	 	 
	  Trust Indenture	 	 
	     Act Section	 	Indenture Section
	(a)(2)
	 	 	N.A.	 
	(b)
	 	 	N.A.	 
	318(a)
	 	 	N.A.	 
	(b)
	 	 	N.A.	 
	(c)
	 	 	12.01	 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE ONE

	DEFINITIONS AND INCORPORATION

	BY REFERENCE

	 
	 	 	 	 
	Section 1.01. Definitions
	 	 	1	 
	Section 1.02. Other Definitions
	 	 	26	 
	Section 1.03. Incorporation by Reference of Trust Indenture Act
	 	 	26	 
	Section 1.04. Rules of Construction
	 	 	27	 
	 
	 	 	 	 
	ARTICLE TWO

	THE NOTES

	 
	 	 	 	 
	Section 2.01. Form and Dating
	 	 	27	 
	Section 2.02. Execution and Authentication
	 	 	28	 
	Section 2.03. Methods of Receiving Payments on the Notes
	 	 	29	 
	Section 2.04. Registrar and Paying Agent
	 	 	29	 
	Section 2.05. Paying Agent to Hold Money in Trust
	 	 	29	 
	Section 2.06. Holder Lists
	 	 	30	 
	Section 2.07. Transfer and Exchange
	 	 	30	 
	Section 2.08. Replacement Notes
	 	 	32	 
	Section 2.09. Outstanding Notes
	 	 	32	 
	Section 2.10. Treasury Notes
	 	 	32	 
	Section 2.11. Temporary Notes
	 	 	33	 
	Section 2.12. Cancellation
	 	 	33	 
	Section 2.13. Defaulted Interest
	 	 	33	 
	Section 2.14. CUSIP Numbers
	 	 	33	 
	 
	 	 	 	 
	ARTICLE THREE

	REDEMPTION AND OFFERS TO

	PURCHASE

	 
	 	 	 	 
	Section 3.01. Notices to Trustee
	 	 	34	 
	Section 3.02. Selection of Notes to Be Redeemed
	 	 	34	 
	Section 3.03. Notice of Redemption
	 	 	34	 
	Section 3.04. Effect of Notice of Redemption
	 	 	35	 
	Section 3.05. Deposit of Redemption Price
	 	 	35	 
	Section 3.06. Notes Redeemed in Part
	 	 	36	 
	Section 3.07. Optional Redemption
	 	 	36	 
	Section 3.08. Repurchase Offers
	 	 	37	 
	Section 3.09. Application of Trust Money
	 	 	38	 

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	 	 	Page
	ARTICLE FOUR

	COVENANTS

	 
	 	 	 	 
	Section 4.01. Payment of Notes
	 	 	39	 
	Section 4.02. Maintenance of Office or Agency
	 	 	39	 
	Section 4.03. Reports
	 	 	40	 
	Section 4.04. Compliance Certificate
	 	 	41	 
	Section 4.05. Taxes
	 	 	41	 
	Section 4.06. Stay, Extension and Usury Laws
	 	 	42	 
	Section 4.07. Restricted Payments
	 	 	42	 
	Section 4.08. Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries
	 	        45
	Section 4.09. Incurrence of Indebtedness
	 	 	47	 
	Section 4.10. Asset Sales
	 	 	51	 
	Section 4.11. Transactions with Affiliates
	 	 	53	 
	Section 4.12. Liens
	 	 	54	 
	Section 4.13. Business Activities
	 	 	54	 
	Section 4.14. Offer to Repurchase upon a Change of Control
	 	 	55	 
	Section 4.15. Changes in Covenants When Notes Rated Investment Grade
	 	 	56	 
	Section 4.16. Designation of Restricted and Unrestricted Subsidiaries
	 	 	57	 
	Section 4.17. Payments for Consent
	 	 	59	 
	Section 4.18. Note Guarantees
	 	 	59	 
	 
	 	 	 	 
	ARTICLE FIVE

	SUCCESSORS

	 
	 	 	 	 
	Section 5.01. Merger, Consolidation or Sale of Assets
	 	 	59	 
	Section 5.02. Successor Corporation Substituted
	 	 	61	 
	 
	 	 	 	 
	ARTICLE SIX

	DEFAULTS AND REMEDIES

	 
	 	 	 	 
	Section 6.01. Events of Default
	 	 	62	 
	Section 6.02. Acceleration
	 	 	63	 
	Section 6.03. Other Remedies
	 	 	64	 
	Section 6.04. Waiver of Past Defaults
	 	 	64	 
	Section 6.05. Control by Majority
	 	 	65	 
	Section 6.06. Limitation on Suits
	 	 	65	 
	Section 6.07. Rights of Holders of Notes to Receive Payment
	 	 	65	 
	Section 6.08. Collection Suit by Trustee
	 	 	66	 
	Section 6.09. Trustee May File Proofs of Claim
	 	 	66	 
	Section 6.10. Priorities
	 	 	66	 
	Section 6.11. Undertaking for Costs
	 	 	67	 
	 
	 	 	 	 
	ARTICLE SEVEN

	TRUSTEE

	 
	 	 	 	 
	Section 7.01. Duties of Trustee
	 	 	67	 

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	 	 	Page
	Section 7.02. Certain Rights of Trustee
	 	 	68	 
	Section 7.03. Individual Rights of Trustee
	 	 	69	 
	Section 7.04. Trustee’s Disclaimer
	 	 	69	 
	Section 7.05. Notice of Defaults
	 	 	69	 
	Section 7.06. Reports by Trustee to Holders of the Notes
	 	 	70	 
	Section 7.07. Compensation and Indemnity
	 	 	70	 
	Section 7.08. Replacement of Trustee
	 	 	71	 
	Section 7.09. Successor Trustee by Merger, Etc
	 	 	72	 
	Section 7.10. Eligibility; Disqualification
	 	 	72	 
	Section 7.11. Preferential Collection of Claims Against Company
	 	 	72	 
	Section 7.12. No Representation by Trustee
	 	 	72	 
	 
	 	 	 	 
	ARTICLE EIGHT

	DEFEASANCE AND COVENANT DEFEASANCE

	 
	 	 	 	 
	Section 8.01. Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	73	 
	Section 8.02. Legal Defeasance and Discharge
	 	 	73	 
	Section 8.03. Covenant Defeasance
	 	 	73	 
	Section 8.04. Conditions to Legal or Covenant Defeasance
	 	 	74	 
	Section 8.05. Deposited Money and Government Securities to Be Held in Trust;
Other Miscellaneous Provisions
	 	 	75	 
	Section 8.06. Repayment to the Company
	 	 	76	 
	Section 8.07. Reinstatement
	 	 	76	 
	Section 8.08. Survival of Rights
	 	 	77	 
	 
	 	 	 	 
	ARTICLE NINE

	AMENDMENT, SUPPLEMENT AND WAIVER

	 
	 	 	 	 
	Section 9.01. Without Consent of Holders of Notes
	 	 	77	 
	Section 9.02. With Consent of Holders of Notes
	 	 	78	 
	Section 9.03. Compliance with Trust Indenture Act
	 	 	80	 
	Section 9.04. Revocation and Effect of Consents
	 	 	80	 
	Section 9.05. Notation on or Exchange of Notes
	 	 	80	 
	Section 9.06. Trustee to Sign Amendments, Etc
	 	 	80	 
	 
	 	 	 	 
	ARTICLE TEN

	NOTE GUARANTEES

	 
	 	 	 	 
	Section 10.01. Guarantee
	 	 	80	 
	Section 10.02. Limitation on Guarantor Liability
	 	 	82	 
	Section 10.03. Execution and Delivery of Note Guarantee
	 	 	82	 
	Section 10.04. Guarantors May Consolidate, Etc., on Certain Terms
	 	 	82	 
	Section 10.05. Release of a Subsidiary Guarantor
	 	 	83	 
	 
	 	 	 	 
	ARTICLE ELEVEN

	SATISFACTION AND DISCHARGE

	 
	 	 	 	 
	Section 11.01. Satisfaction and Discharge
	 	 	84	 

iii

 

	 	 	 	 	 
	 	 	Page
	Section 11.02. Deposited Money and Government
Securities to Be Held in Trust;
Other Miscellaneous Provisions
	 	 	85	 
	Section 11.03. Section 11.04. Survival
	 	 	85	 
	Section 11.04. Repayment to the Company
	 	 	85	 
	 
	 	 	 	 
	ARTICLE TWELVE

	MISCELLANEOUS

	 
	 	 	 	 
	Section 12.01. Trust Indenture Act Controls
	 	 	86	 
	Section 12.02. Notices
	 	 	86	 
	Section 12.03. Communication by Holders of Notes with Other Holders of Notes
	 	 	87	 
	Section 12.04. Certificate and Opinion as to Conditions Precedent
	 	 	87	 
	Section 12.05. Statements Required in Certificate or Opinion
	 	 	87	 
	Section 12.06. Rules by Trustee and Agents
	 	 	88	 
	Section 12.07. No Personal Liability of Directors, Officers, Employees and Stockholders
	 	        88
	Section 12.08. Governing Law
	 	 	88	 
	Section 12.09. Consent to Jurisdiction
	 	 	88	 
	Section 12.10. No Adverse Interpretation of Other Agreements
	 	 	89	 
	Section 12.11. Successors
	 	 	89	 
	Section 12.12. Severability
	 	 	89	 
	Section 12.13. Counterpart Originals
	 	 	89	 
	Section 12.14. Acts of Holders
	 	 	89	 
	Section 12.15. Benefit of Indenture
	 	 	90	 
	Section 12.16. Table of Contents, Headings, Etc.
	 	 	90	 

EXHIBITS

	 	 	 

	Exhibit A

	 	FORM OF NOTE
	 
	 	 
	Exhibit B

	 	FORM OF NOTATION OF GUARANTEE
	 
	 	 
	Exhibit C

	 	FORM OF SUPPLEMENTAL INDENTURE

iv

 

          INDENTURE dated as of           among NII Capital Corp., a Delaware corporation (the “Company”), the
Initial Guarantors (as defined below) listed on the signature pages hereto and Wilmington Trust
Company, a national banking association, as trustee.

          The Company has duly authorized the execution and delivery of this Indenture to provide for
the issuance from time to time of its       % Senior Notes due       to be issued in one or more series as
provided in this Indenture. The Initial Guarantors have duly authorized the execution and delivery
of this Indenture to provide for a guarantee of the Notes and of certain of the Company’s
obligations hereunder. All things necessary to make this Indenture a valid agreement of the
Company and the Initial Guarantors, in accordance with its terms, have been done.

          The Company, the Guarantors and the Trustee (as defined below) agree as follows for the
benefit of each other and for the equal and ratable benefit of the Holders (as defined below) of
the       % Senior Notes due       :

ARTICLE ONE

DEFINITIONS AND INCORPORATION

BY REFERENCE

          Section 1.01. Definitions.

          “Acquired Indebtedness” means Indebtedness of a Person existing at the time such Person
becomes a Restricted Subsidiary or merges with or into the Parent or any of its Restricted
Subsidiaries or which is assumed by the Parent or any of its Restricted Subsidiaries in connection
with an Asset Acquisition and not incurred in connection with, or in anticipation of, such Person
becoming a Restricted Subsidiary or such Asset Acquisition. The term “Acquired Indebtedness” does
not include Indebtedness of a Person which is redeemed, defeased, retired or otherwise repaid at
the time of or immediately upon consummation of the transactions by which such Person becomes a
Restricted Subsidiary or such Asset Acquisition.

          “Additional Notes” means an unlimited maximum aggregate principal amount of Notes (other than
the Notes issued on the date hereof) issued under this Indenture in accordance with Sections 2.02
and 4.09 hereof.

          “Affiliate” of any specified Person means (1) any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with such specified Person
or (2) any executive officer or director of such specified Person. For purposes of this definition,
“control,” as used with respect to any Person, shall mean the possession, directly or indirectly,
of the power to direct or cause the direction of the management or policies of such Person, whether
through the ownership of voting securities, by agreement or otherwise; provided that beneficial
ownership of 5% or more of the Voting Stock of a Person shall be deemed to be control. For purposes
of this definition, the terms “controlling,” “controlled by” and “under common control with” shall
have correlative meanings.

          “Agent” means any Registrar, Paying Agent or co-registrar.

 

          “Applicable Premium” means, with respect to a Note at any date of redemption, the greater of
(i) 1.0% of the principal amount of such Note and (ii) the excess of (A) the present value at such
date of redemption of (1) the redemption price of such Note at       (such redemption price being
described herein at Section 3.07) plus (2) all remaining required interest payments due on such
Note through       (excluding accrued but unpaid interest to the date of redemption), computed using a
discount rate equal to the Treasury Rate plus 50 basis points, over (B) the principal amount of
such Note.

          “Asset Acquisition” means:

          (1) an Investment by the Parent or any of its Restricted Subsidiaries in any other Person
pursuant to which such Person shall become a Restricted Subsidiary or shall be merged into or
consolidated with the Parent or any of its Restricted Subsidiaries but only if such Person’s
primary business is a Permitted Business, or

          (2) an acquisition by the Parent or any of its Restricted Subsidiaries of the property and
assets of any Person other than the Parent or any of its Restricted Subsidiaries that constitute
all or substantially all of a division, operating unit or line of business of such Person but only
if the property and assets so acquired is a Permitted Business.

          “Asset Disposition” means the sale or other disposition by the Parent or any of its Restricted
Subsidiaries, other than to the Parent or another Restricted Subsidiary, of (a) all or
substantially all of the Capital Stock of any Restricted Subsidiary or (b) all or substantially all
of the assets that constitute a division, operating unit or line of business of the Parent or any
of its Restricted Subsidiaries.

          “Asset Sale” means:

          (1) the sale, lease, conveyance or other disposition of any assets, other than a transaction
governed by Sections 4.14 and/or Section 5.01; and

          (2) (a) the issuance of Equity Interests by any of the Parent’s Restricted Subsidiaries or
(b) the sale by the Parent or any Restricted Subsidiary thereof of any Equity Interests it owns in
any of its Subsidiaries (other than directors’ qualifying shares and shares issued to foreign
nationals to the extent required by applicable law).

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

          (1) any single transaction or series of related transactions that involves assets or Equity
Interests having a Fair Market Value of less than $15.0 million;

          (2) a transfer of assets or Equity Interests between or among the Parent and its Restricted
Subsidiaries;

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

2

 

          (4) the sale, lease, sublease, license, sublicense, consignment, conveyance or other
disposition of equipment, inventory, accounts receivable or other assets in the ordinary course of
business in compliance with Section 4.11;

          (5) the sale or other disposition of Cash Equivalents;

          (6) dispositions of accounts receivable in connection with the compromise, settlement or
collection thereof in the ordinary course of business or in bankruptcy or similar proceedings;

          (7) a Restricted Payment that is permitted by Section 4.07 and any Permitted Investment;

          (8) any sale or disposition of any property or equipment that has become damaged, worn out or
obsolete;

          (9) the creation of a Lien not prohibited by this Indenture;

          (10) the licensing of intellectual property or other general intangibles (other than Wireless
Licenses) to third persons on terms approved by the Board of Directors of the Parent in good faith
and in the ordinary course of business;

          (11) the sale or other disposition of transmission towers and related equipment and assets in
one or more Sale and Leaseback Transactions, in an aggregate amount not to exceed $100.0 million;

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

          (13) any disposition arising from foreclosure, condemnation or similar action with respect to
any property or other assets or exercise of termination rights under any lease, license, concession
or other agreement.

          “Attributable Debt” in respect of a Sale and Leaseback Transaction means, at the time of
determination, the present value of the obligation of the lessee for net rental payments during the
remaining term of the lease included in such Sale and Leaseback Transaction, including any period
for which such lease has been extended or may, at the option of the lessor, be extended. Such
present value shall be calculated using a discount rate equal to the rate of interest implicit in
such transaction, determined in accordance with GAAP.

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

          “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under
the Exchange Act, except that in calculating the beneficial ownership of any particular “person”
(as that term is used in Section 13(d)(3) of the Exchange Act), such “person” shall be deemed to
have beneficial ownership of all securities that such “person” has the right to acquire by
conversion or exercise of other securities, whether such right is currently exercisable

3

 

or is exercisable only upon the occurrence of a subsequent condition. The terms “Beneficially
Owns” and “Beneficially Owned” shall have a corresponding meaning.

          “Board of Directors” means:

     (1) with respect to a corporation, the board of directors of the corporation or, except
in the context of the definitions of “Change of Control,” a duly authorized committee
thereof;

     (2) with respect to a partnership, the Board of Directors of the general partner of the
partnership;

     (3) with respect to a limited liability company, the managing member or members or any
controlling committee or board of directors of such company or of the sole member or of the
managing member thereof; and

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

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

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

          “Capital Lease Obligation” means, at the time any determination thereof is to be made, the
amount of the liability in respect of a capital lease that would at that time be required to be
capitalized on a balance sheet in accordance with GAAP, and the Stated Maturity thereof shall be
the date of the last payment of rent or any other amount due under such lease prior to the first
date upon which such lease may be prepaid by the lessee without payment of a penalty.

          “Capital Stock” means:

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

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

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

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

4

 

          “Cash Equivalents” means:

     (1) (a) United States dollars; and (b) in the case of the Parent or any Restricted
Subsidiary of the Parent, the local currency of the country in which it or any of its
Restricted Subsidiaries operates;

     (2) readily marketable obligations issued or directly and fully guaranteed or insured
by the United States of America or any agency or instrumentality thereof (provided that the
full faith and credit of the United States of America is pledged in support thereof), having
maturities, unless such securities are deposited to defease any Indebtedness, of not more
than one year from the date of acquisition thereof;

     (3) demand deposits, certificates of deposit, overnight deposits and time deposits with
maturities of one year or less from the date of acquisition, bankers’ acceptances with
maturities not exceeding one year and overnight bank deposits, in each case, with any
commercial bank that is organized under the laws of the United States of America, any state
thereof or any foreign country recognized by the United States and at the time of
acquisition thereof has capital and surplus in excess of $500.0 million (or the foreign
currency equivalent thereof) and a rating of P-1 or better from Moody’s or A-1 or better
from S&P or, with respect to a commercial bank organized outside of the United States, a
local market credit rating of at least “BBB-” (or the then equivalent grade) by S&P and the
equivalent rating by Moody’s, or with government owned financial institution that is
organized under the laws of any of the countries in which the Parent’s Restricted
Subsidiaries conduct business;

     (4) commercial paper outstanding at any time issued by any Person that is organized
under the laws of the United States of America, any state thereof or any foreign country
recognized by the United States and rated P-1 or better from Moody’s or A-1 or better from
S&P or, with respect to Persons organized outside of the United States, a local market
credit rating at least “BBB-” (or the then equivalent grade) by S&P and the equivalent
rating by Moody’s and in each case with maturities of not more than 360 days from the date
of acquisition thereof;

     (5) securities with final maturities of not more than one year from the date of
acquisition thereof issued or fully guaranteed by any state, territory or municipality of
the United States of America or by any political subdivision, taxing authority, agency or
instrumentality thereof or any country recognized by the United States, which securities are
rated at the time of acquisition at least A by S&P or A by Moody’s;

     (6) insured demand deposits made in the ordinary course of business and consistent with
the Parent’s or its Subsidiaries’ customary cash management policy in any domestic office of
any commercial bank organized under the laws of the United States of America or any state
thereof;

     (7) repurchase obligations with a term of not more than 360 days for underlying
securities of the types described in clauses (2), (3) and (4) above entered into with any
financial institution meeting the qualifications specified in clause (3) above;

5

 

     (8) local currency denominated investments in government issued instruments with a term
of not more than 360 days from the date of acquisition, but only to the extent the country’s
credit rating is at least “BBB-” (or the then equivalent grade) by S&P and the equivalent
rating by Moody’s; and

     (9) investments, classified in accordance with GAAP as current assets of the Parent or
any of its Restricted Subsidiaries, in money market funds or investment programs registered
under the Investment Company Act of 1940 or similar provision under foreign law, at least
90% of the portfolios of which are limited solely to Investments of the character, quality
and maturity described in clauses (1) through (8) of this definition.

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

     (1) the direct or indirect sale, transfer, conveyance or other disposition (other than
by way of merger or consolidation), in one or a series of related transactions, of all or
substantially all of the properties or assets of the Parent and its Restricted Subsidiaries,
taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange
Act);

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

     (3) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the
Exchange Act, but excluding any employee benefit plan of such “person” or its Subsidiaries,
and any Person or entity acting in its capacity as trustee, agent or other fiduciary or
administrator of any such plan) becomes the Beneficial Owner, directly or indirectly, of 35%
or more of the Voting Stock of Parent or the Company on a fully-diluted basis (and taking
into account all such securities that such “person” or “group” has the right to acquire
pursuant to any option right to the extent that such option right is exercisable within 60
days after the date of determination);

     (4) the first day on which a majority of the members of the Board of Directors of the
Parent or the Company are not Continuing Directors;

     (5) the Parent or the Company consolidates with, or merges with or into, any Person, or
any Person consolidates with, or merges with or into the Parent or the Company, in any such
event pursuant to a transaction in which any of the outstanding Voting Stock of the Parent
or the Company, as the case may be, or such Person is converted into or exchanged for cash,
securities or other property, other than any such transaction where, the Voting Stock of the
Parent or the Company as the case may be, outstanding immediately prior to such transaction
is converted into or exchanged for Voting Stock (other than Disqualified Stock) of the
surviving or transferee Person constituting a majority of the outstanding shares of such
Voting Stock of such surviving or transferee Person (immediately after giving effect to such
issuance); or

     (6) Parent ceases to own 100% of the Equity Interests of the Company (unless the Parent
and the Company are merged);

6

 

provided that no Change of Control shall be deemed to occur if the Notes are rated Baa3 or better
by Moody’s and BBB- or better by Standard & Poor’s (or, if either such entity ceases to rate the
Notes for reasons outside of the control of the Parent or the Company, the equivalent investment
grade credit rating from any other “nationally recognized statistical rating organization” within
the meaning of Section 3(a)(62) under the Exchange Act, selected by the Company as a replacement
agency) for a period of at least 90 consecutive days, beginning on the date of such event, which
period will be extended for so long as the rating of the Notes is under publicly announced
consideration for possible downgrading by the applicable rating agency.

          “Commission” means the United States Securities and Exchange Commission.

          “Common Stock” means, with respect to any Person, any Capital Stock (other than Preferred
Stock) of such Person, whether outstanding on the Issue Date or issued thereafter.

          “Company” means NII Capital Corp. until a successor replaces it pursuant to Section 5.01
hereof and thereafter means the successor.

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

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

     (2) Fixed Charges of such Person and its Restricted Subsidiaries for such period, to
the extent that any such Fixed Charges were deducted in computing such Consolidated Net
Income; plus

     (3) depreciation, amortization (including amortization of intangibles but excluding
amortization of prepaid cash expenses that were paid in a prior period) and other non-cash
expenses or charges (including, without limitation, minority interest expense and foreign
exchange losses and excluding any such non-cash expense to the extent that it represents an
accrual of or reserve for cash expenses in any future period or amortization of a prepaid
cash expense that was paid in a prior period) of such Person and its Restricted Subsidiaries
for such period to the extent that such depreciation, amortization and other non-cash
expenses or charges were deducted in computing such Consolidated Net Income, such other
non-cash expenses to include, without limitation, impairment charges associated with
goodwill, wireless licenses, other indefinite-lived assets and long-lived assets, and
stock-based compensation awards; minus

     (4) non-cash items increasing such Consolidated Net Income (including, without
limitation, foreign exchange gains) for such period, other than the accrual of revenue
consistent with past practice;

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

          Notwithstanding the preceding, the provision for taxes based on the income or profits of, the
Fixed Charges of and the depreciation and amortization and other non-cash

7

 

expenses of, a Restricted Subsidiary of the Parent shall be added to Consolidated Net Income
to compute Consolidated Cash Flow of the Parent (A) in the same proportion that the Net Income of
such Restricted Subsidiary was added to compute such Consolidated Net Income of the Parent and
(B) solely for the purpose of determining the amount available for Restricted Payments under
Section 4.07(a)(3)(i), only to the extent that a corresponding amount would be permitted at the
date of determination to be dividended or distributed to the Parent by such Restricted Subsidiary
without any prior governmental approval (that has not been obtained), and without direct or
indirect restriction pursuant to the terms of its charter and all agreements, instruments,
judgments, decrees, orders, statutes, rules and governmental regulations applicable to that
Subsidiary or holders of its Capital Stock, unless such restriction has been legally waived or is
contained in any agreement governing Indebtedness that is permitted by the covenant described under
Section 4.08, provided, that the restrictions on the declaration or payment of dividends or similar
distributions contemplated by this clause (B) shall not include approvals required by the Board of
Directors or shareholders of the Restricted Subsidiary, the requirement to obtain audited financial
statements and any other requirements that are administrative in nature and in the good faith
judgment of the Parent would be satisfied; provided further, that amounts shall not be excluded by
this clause (B) to the extent they are paid or could be paid in cash to the specified Person or a
Restricted Subsidiary thereof by dividend, distribution or other payment (including, without
limitation, making loans, repaying indebtedness or paying under intercompany arrangements).

          “Consolidated Leverage Ratio” means on any Transaction Date, the ratio of:

     (1) the aggregate amount of Indebtedness of the Parent and its Restricted Subsidiaries
on a consolidated basis outstanding on such Transaction Date, to

     (2) the aggregate amount of Consolidated Cash Flow of the Parent and its Restricted
Subsidiaries for the Four Quarter Period.

     In determining the Consolidated Leverage Ratio:

     (1) pro forma effect shall be given to any Indebtedness that is to be incurred or
repaid on the Transaction Date;

     (2) pro forma effect shall be given to Asset Dispositions and Asset Acquisitions
(including giving pro forma effect to the application of proceeds of any Asset Disposition)
that occur during the Reference Period as if they had occurred and such proceeds had been
applied on the first day of such Reference Period;

     (3) pro forma effect shall be given to asset dispositions and asset acquisitions
(including giving pro forma effect to the application of proceeds of any asset disposition)
that have been made by any Person that has become a Restricted Subsidiary of the Parent or
has been merged with or into the Parent or any Restricted Subsidiary during such Reference
Period and that would have constituted Asset Dispositions or Asset Acquisitions had such
transactions occurred when such Person was a Restricted Subsidiary, as if such asset
dispositions or asset acquisitions were Asset Dispositions or Asset Acquisitions that
occurred on the first day of such Reference Period.

8

 

          To the extent that pro forma effect is given to an Asset Acquisition or Asset Disposition,
such pro forma calculation shall be based upon the four full fiscal quarters immediately preceding
the Transaction Date of the Person, or division, operating unit or line of business of the Person,
that is acquired or disposed of for which financial information is available, and Consolidated Cash
Flow shall be calculated on a pro forma basis in accordance with Regulation S-X under the
Securities Act, but without giving effect to clause (3) of the proviso set forth in the definition
of Consolidated Net Income.

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

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

     (2) solely for the purpose of determining the amount available for Restricted Payments
under Section 4.07(a)(3)(i), the Net Income of any Restricted Subsidiary shall be excluded
to the extent that the declaration or payment of dividends or similar distributions by that
Restricted Subsidiary of that Net Income is not at the date of determination permitted
without any prior governmental approval (that has not been obtained) or, directly or
indirectly, by operation of the terms of its charter or any agreement, instrument, judgment,
decree, order, statute, rule or governmental regulation applicable to that Restricted
Subsidiary or holders of its Capital Stock, unless such restriction with respect to the
payment of dividends or similar distributions has been legally waived or is contained in any
agreement governing Indebtedness that is permitted under Section 4.08, provided, that the
restrictions on the declaration or payment of dividends or similar distributions
contemplated by this clause (2) shall not include approvals required by the Board of
Directors or shareholders of the Restricted Subsidiary, the requirement to obtain audited
financial statements and any other requirements that are administrative in nature and in the
good faith judgment of the Parent would be satisfied; provided further, that the Net Income
of a Restricted Subsidiary shall not be excluded by this clause (2) to the extent it is paid
or could be paid in cash to the specified Person or a Restricted Subsidiary thereof by
dividend, distribution or other payment (including, without limitation, making loans,
repaying indebtedness or paying under intercompany arrangements).

     (3) the Net Income of any Person acquired during the specified period for any period
prior to the date of such acquisition shall be excluded;

     (4) the cumulative effect of a change in accounting principles shall be excluded; and

     (5) notwithstanding clause (1) above, the Net Income or loss of any Unrestricted
Subsidiary shall be excluded, whether or not distributed to the specified Person or one of
its Subsidiaries.

9

 

          “Corporate Trust Office of the Trustee” shall be at the address of the Trustee specified in
Section 12.02 hereof or such other address as to which the Trustee may give notice to the Company.

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

     (1) was a member of such Board of Directors on the Issue Date; or

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

          “Credit Facilities” means, one or more debt facilities, commercial paper facilities or
indentures, in each case with banks or other institutional lenders or a trustee, providing for
revolving credit loans, term loans, receivables financing (including through the sale of
receivables to such lenders or to special purpose entities formed to borrow from such lenders
against such receivables), letters of credit or issuances of notes, in each case, as amended,
restated, modified, renewed, refunded, replaced or refinanced in whole or in part from time to
time.

          “Custodian” means the Trustee, as custodian with respect to the Notes in global form, or any
successor entity thereto.

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

          “Definitive Note” means a certificated Note registered in the name of the Holder thereof and
issued in accordance with Section 2.07 hereof, substantially in the form of Exhibit A hereto, and
such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of
Interests in the Global Note” attached thereto.

          “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global
form, the Person specified in Section 2.04 hereof as the Depositary with respect to the Notes, and
any and all successors thereto appointed as depositary hereunder and having become such pursuant to
the applicable provision of this Indenture.

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

10

 

such repurchase or redemption complies with Section 4.07. The term “Disqualified Stock” shall
also include any options, warrants or other rights that are convertible into Disqualified Stock or
that are redeemable at the option of the holder, or required to be redeemed, prior to the date that
is one year after the date on which the Notes mature.

          “Domestic Restricted Subsidiary” means any Restricted Subsidiary of the Parent other than a
Restricted Subsidiary that is (1) a “controlled foreign corporation” under Section 957 of the
Internal Revenue Code (a) whose primary operating assets are located outside the United States and
(b) that is not subject to tax under Section 882(a) of the Internal Revenue Code because of a trade
or business within the United States or (2) a Subsidiary of an entity described in the preceding
clause (1).

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

          “Equity Offering” means any public or private placement of Capital Stock (other than
Disqualified Stock) of the Parent (other than pursuant to a registration statement on Form S-8 or
otherwise relating to equity securities issuable under any employee benefit plan of the Parent) to
any Person other than any Subsidiary of the Parent.

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

          “Existing Indebtedness” means the aggregate amount of Indebtedness of the Parent and its
Restricted Subsidiaries (other than Indebtedness under the Notes) in existence on the Issue Date.

          “Fair Market Value” means the price that would be paid in an arm’s-length transaction between
an informed and willing seller under no compulsion to sell and an informed and willing buyer under
no compulsion to buy, as determined in good faith by an Officer of the Parent or by the Board of
Directors of the Parent, evidenced by an Officers’ Certificate or Board Resolution, as applicable.

          “First Tier Restricted Subsidiary” means each Restricted Subsidiary of the Parent (other than
the Company), the Capital Stock of which is held directly by the Parent.

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

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

11

 

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

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

     (4) the product of (a) all dividends, whether paid or accrued and whether or not in
cash, on any series of Disqualified Stock of such Person or Disqualified Stock or Preferred
Stock of any of its Restricted Subsidiaries other than dividends on Equity Interests payable
solely in Equity Interests (other than Disqualified Stock) of the Parent or to the Parent or
a Restricted Subsidiary of the Parent, times (b) a fraction, the numerator of which is one
and the denominator of which is one minus the then current combined federal, state and local
statutory tax rate of such Person (if such Person is part of a consolidated group, then such
tax rate shall be computed on a standalone basis for such Person), expressed as a decimal,
in each case, on a consolidated basis and in accordance with GAAP.

          “Foreign Restricted Subsidiary” means any Restricted Subsidiary of the Parent that is not a
Domestic Restricted Subsidiary.

          “Four Quarter Period” means, with respect to any specified Transaction Date, the four fiscal
quarters immediately prior to the Transaction Date for which internal financial statements of the
Parent are available.

          “GAAP” means generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of Certified Public
Accountants and in the statements and pronouncements of the Financial Accounting Standards Board or
in such other statements by such other entity as have been approved by a significant segment of the
accounting profession, which were in effect on the Issue Date.

          “Global Note Legend” means the legend set forth in Section 2.01(b), which is required to be
placed on all Global Notes issued under this Indenture.

          “Global Notes” means the Notes, substantially in the form of Exhibit A hereto, as appropriate,
that bear the Global Note Legend and that have the “Schedule of Exchanges of Interests in the
Global Note” attached thereto, and that are deposited with or on behalf of and registered in the
name of the depositary, issued in accordance with Section 2.01 or 2.07.

          “Government Securities” means securities that are direct obligations of the United States of
America for the timely payment of which its full faith and credit is pledged.

          “Guarantee” means, as to any Person, a guarantee other than by endorsement of negotiable
instruments for collection in the ordinary course of business, direct or indirect, in any manner
including, without limitation, by way of a pledge of assets or through letters of credit or
reimbursement agreements in respect thereof, of all or any part of any Indebtedness of another
Person.

12

 

          “Guarantors” means:

     (1) the Initial Guarantors; and

     (2) any other Subsidiary that executes a Note Guarantee in accordance with the
provisions of this Indenture;

and their respective successors and assigns until released from their obligations under the Note
Guarantee and this Indenture in accordance with the terms of this Indenture.

          “Hedging Obligations” means, with respect to any specified Person, the obligations of such
Person under:

     (1) interest rate swap agreements, interest rate cap agreements, interest rate collar
agreements and other agreements or arrangements with respect to interest rates;

     (2) commodity swap agreements, commodity option agreements, forward contracts and other
agreements or arrangements with respect to commodity prices; and

     (3) foreign exchange contracts, currency swap agreements, currency option agreements
and other agreements or arrangements with respect to foreign currency exchange rates.

          “Holder” means a Person in whose name a Note is registered.

          “Incur” means, with respect to any Indebtedness, to incur, create, issue, assume, Guarantee or
otherwise become directly or indirectly liable for or with respect to, or become responsible for,
the payment of, contingently or otherwise, such Indebtedness (and “Incurrence” and “Incurred” shall
have meanings correlative to the foregoing); provided that (1) any Indebtedness of a Person
existing at the time such Person becomes a Restricted Subsidiary of the Parent shall be deemed to
be Incurred by such Restricted Subsidiary at the time it becomes a Restricted Subsidiary of the
Parent and (2) neither the accrual of interest nor the accretion of original issue discount nor the
payment of interest in the form of additional Indebtedness with the same terms and the payment of
dividends on Disqualified Stock or Preferred Stock in the form of additional shares of the same
class of Disqualified Stock or Preferred Stock (to the extent provided for when the Indebtedness or
Disqualified Stock or Preferred Stock on which such interest or dividend is paid was originally
issued) shall be considered an Incurrence of Indebtedness; provided that in each case the amount
thereof is for all other purposes included in the Fixed Charges and Indebtedness of the Parent, or
its Restricted Subsidiaries as accrued.

          “Indebtedness” means, with respect to any specified Person, any indebtedness of such Person,
whether or not contingent and without duplication:

     (1) in respect of borrowed money;

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

13

 

     (3) in respect of banker’s acceptances;

     (4) in respect of Capital Lease Obligations and Attributable Debt;

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

     (6) representing Hedging Obligations;

     (7) representing Disqualified Stock valued at the greater of its voluntary or
involuntary maximum fixed repurchase price plus accrued dividends; or

     (8) in the case of a Subsidiary of such Person, representing Preferred Stock valued at
the greater of its voluntary or involuntary maximum fixed repurchase price plus accrued
dividends.

          In addition, the term “Indebtedness” includes (x) all Indebtedness of others secured by a Lien
on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified
Person), provided that the amount of such Indebtedness shall be the lesser of (A) the Fair Market
Value of such asset at such date of determination and (B) the amount of such Indebtedness, and
(y) to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness
of any other Person. For purposes hereof, the “maximum fixed repurchase price” of any Disqualified
Stock or Preferred Stock which does not have a fixed repurchase price shall be calculated in
accordance with the terms of such Disqualified Stock or Preferred Stock, as applicable, as if such
Disqualified Stock or Preferred Stock were repurchased on any date on which Indebtedness is
required to be determined pursuant to this Indenture.

          The amount of any Indebtedness outstanding as of any date shall be the outstanding balance at
such date of all unconditional obligations as described above and, with respect to contingent
obligations, the maximum liability upon the occurrence of the contingency giving rise to the
obligation, and shall be:

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

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

          “Initial Guarantors” means the Parent and all Domestic Restricted Subsidiaries existing on the
Issue Date.

          “Indenture” means this Indenture, as amended or supplemented from time to time.

          “Investment Company Act” means the Investment Company Act of 1940, as amended.

14

 

          “Investments” means, with respect to any Person, all direct or indirect investments by such
Person in other Persons (including Affiliates) in the form of loans or other extensions of credit
(including Guarantees), advances, capital contributions (by means of any transfer of cash or other
property to others or any payment for property or services for the account or use of others),
purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other
securities, together with all items that are or would be classified as investments on a balance
sheet prepared in accordance with GAAP.

          If the Parent or any Restricted Subsidiary of the Parent sells or otherwise disposes of any
Equity Interests of any direct or indirect Restricted Subsidiary of the Parent such that, after
giving effect to any such sale or disposition, such Person is no longer a Restricted Subsidiary of
the Parent, the Parent shall be deemed to have made an Investment on the date of any such sale or
disposition equal to the Fair Market Value of the Investment in such Subsidiary not sold or
disposed of. The acquisition by the Parent or any Restricted Subsidiary of the Parent of a Person
that holds an Investment in a third Person shall be deemed to be an Investment by the Parent or
such Restricted Subsidiary in such third Person in an amount equal to the Fair Market Value of the
Investment held by the acquired Person in such third Person.

          “Issue Date” means the date of original issuance of the Notes under this Indenture.

          “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in The City
of New York or at a place of payment are authorized or required by law, regulation or executive
order to remain closed.

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

          “Moody’s” means Moody’s Investors Service, Inc. and its successors.

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

     (1) any gain or loss, together with any related provision for taxes on such gain or
loss, realized in connection with: (a) any sale of assets outside the ordinary course of
business of such Person; or (b) the disposition of any securities by such Person or any of
its Restricted Subsidiaries or the extinguishment of any Indebtedness of such Person or any
of its Restricted Subsidiaries; and

     (2) any extraordinary gain or loss, together with any related provision for taxes on
such extraordinary gain or loss.

15

 

          “Net Proceeds” means the aggregate cash proceeds, including payments in respect of deferred
payment obligations (to the extent corresponding to the principal, but not the interest component,
thereof) received by the Parent or any of its Restricted Subsidiaries in respect of any Asset Sale
(including, without limitation, any cash received upon the sale or other disposition of any
non-cash consideration received in any Asset Sale), net of (1) the direct costs relating to such
Asset Sale, including, without limitation, legal, accounting, investment banking and brokerage
fees, and sales commissions, and any relocation expenses incurred as a result thereof, (2) taxes
paid or payable as a result thereof, in each case, after taking into account any available tax
credits or deductions and any tax sharing arrangements, (3) amounts required to be applied to the
repayment of Indebtedness or other liabilities secured by a Lien on the asset or assets that were
the subject of such Asset Sale or required to be paid as a result of such sale, (4) any reserve for
adjustment in respect of the sale price of such asset or assets established in accordance with
GAAP, (5) in the case of any Asset Sale by a Restricted Subsidiary of the Parent, payments to
holders of Equity Interests in such Restricted Subsidiary in such capacity (other than such Equity
Interests held by the Parent or any Restricted Subsidiary thereof) to the extent that such payment
is required to permit the distribution of such proceeds in respect of the Equity Interests in such
Restricted Subsidiary held by the Parent or any Restricted Subsidiary thereof and (6) appropriate
amounts to be provided by the Parent or its Restricted Subsidiaries as a reserve against
liabilities associated with such Asset Sale, including, without limitation, pension and other
post-employment benefit liabilities, liabilities related to environmental matters and liabilities
under any indemnification obligations associated with such Asset Sale, all as determined in
accordance with GAAP; provided that (a) excess amounts set aside for payment of taxes pursuant to
clause (2) above remaining after such taxes have been paid in full or the statute of limitations
therefor has expired and (b) amounts initially held in reserve pursuant to clause (6) no longer so
held, shall, in the case of each of subclause (a) and (b), at that time become Net Proceeds.

          “Note Guarantee” means a Guarantee of the Notes pursuant to this Indenture.

          “Notes” means the       % Senior Notes due
      of the Company issued on the date hereof and any
Additional Notes. The Notes and the Additional Notes, if any, shall be treated as a single class
for all purposes under this Indenture.

          “Obligations” means any principal, interest, penalties, fees, indemnifications,
reimbursements, damages and other liabilities payable under the documentation governing any
Indebtedness.

          “Offering” means the offering of the Notes by the Company.

          “Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer,
any Assistant Treasurer, the Controller, the Secretary or any Vice-President of such Person.

          “Officers’ Certificate” means a certificate signed on behalf of the Company or the Parent, as
the case may be by at least two Officers of the Company or the Parent as the case may be, one of
whom must be the principal executive officer, the principal financial officer, the

16

 

treasurer or the principal accounting officer of the Company or the Parent, as the case may
be, that meets the requirements of Section 12.05.

          “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the
Trustee (who may be counsel to or an employee of the Parent or any of its Restricted Subsidiaries)
that meets the requirements of Section 12.05.

          “Parent” means NII Holdings, Inc. until a successor replaces it pursuant to Section 5.02
hereof and thereafter means the successor.

          “Permitted Business” means the telecommunications business and related activities and services
including any business conducted or proposed to be conducted (as described in the Prospectus) by
the Parent and its Restricted Subsidiaries on the Issue Date (which include, without limitation,
the delivery or distribution of wireless telecommunications services (including voice, data or
video services) and the acquisition, holding or exploitation of any license relating to the
delivery of such wireless telecommunications services) and other businesses related, ancillary or
complementary thereto.

          “Permitted Investments” means:

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

     (2) any Investment in Cash Equivalents;

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

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

provided that such Person’s primary business is a Permitted Business;

     (4) any Investment made as a result of the receipt of non-cash consideration from an
Asset Sale that was made pursuant to and in compliance with Section 4.10;

     (5) Investments acquired as a capital contribution to, or in exchange for, or out of
the net cash proceeds of a substantially concurrent sale (other than to a Restricted
Subsidiary of the Parent) of, Equity Interests (other than Disqualified Stock) of, the
Parent; provided that the amount of any such Equity Interests or net proceeds that are
utilized for any such acquisition or exchange will be excluded pursuant to
Section 4.07(a)(3)(ii);

     (6) Hedging Obligations that are Incurred for the purpose of fixing, hedging or
swapping interest rate, commodity price or foreign currency exchange rate risk (or to
reverse or amend any such agreements previously made for such purposes), and not for

17

 

speculative purposes, and that do not increase the Indebtedness of the obligor
outstanding at any time other than as a result of fluctuations in interest rates, commodity
prices or foreign currency exchange rates or by reason of fees, indemnities and compensation
payable thereunder;

     (7) stock, obligations or securities received in satisfaction of judgments;

     (8) advances to customers or suppliers in the ordinary course of business that are, in
conformity with GAAP, recorded as accounts receivable, prepaid expenses or deposits on the
balance sheet of the Parent or its Restricted Subsidiaries and endorsements for collection
or deposit arising in the ordinary course of business;

     (9) commission, payroll, travel and similar advances to officers and employees of the
Parent or any of its Restricted Subsidiaries that are expected at the time of such advance
ultimately to be recorded as an expense in conformity with GAAP;

     (10) loans and advances to employees, officers or directors of the Parent or any of its
Restricted Subsidiaries made in the ordinary course of business, provided that such loans
and advances do not exceed $5.0 million at any one time outstanding;

     (11) Investments existing on the Issue Date;

     (12) other Investments in any Person primarily engaged in a Permitted Business
including joint ventures and Unrestricted Subsidiaries) having an aggregate Fair Market
Value (measured on the date each such Investment was made and without giving effect to
subsequent changes in value), when taken together with all other outstanding Investments
made pursuant to this clause (12) since August 18, 2009, not to exceed 20% of consolidated
total assets of the Parent (determined as of the end of the most recent fiscal quarter of
the Parent for which internal financial statements of the Parent are available); and

     (13) other Investments, having an aggregate Fair Market Value (measured on the date
each such Investment was made and without giving effect to subsequent changes in value),
when taken together with all other outstanding Investments made pursuant to this clause (13)
since August 18, 2009, not to exceed $350.0 million.

          “Permitted Liens” means:

     (1) Liens on the assets securing Indebtedness Incurred described under
Section 4.09(b)(i);

     (2) Liens in favor of the Parent, the Company or any Subsidiary Guarantor;

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

18

 

Person that is merged into or consolidated with the Parent, the Company or the
Subsidiary Guarantor, as the case may be;

     (4) Liens on property existing at the time of acquisition thereof by the Parent, the
Company or any Subsidiary Guarantor, provided that such Liens were in existence prior to the
contemplation of such acquisition and do not extend to any property other than the property
so acquired by the Parent, the Company or such Subsidiary Guarantor;

     (5) Liens securing the Notes and any Note Guarantee;

     (6) Liens existing on the Issue Date (other than any Liens securing Indebtedness
Incurred under Section 4.09(b)(i)) and any renewals or extension thereof, provided that
property or assets covered thereby is not expanded in connection with such renewal or
extension;

     (7) Liens securing Permitted Refinancing Indebtedness; provided that such Liens do not
extend to any property or assets other than the property or assets that secure the
Indebtedness being refinanced;

     (8) Liens on property or assets used to defease or to satisfy and discharge
Indebtedness; provided that (a) the Incurrence of such Indebtedness was not prohibited by
this Indenture and (b) such defeasance or satisfaction and discharge is not prohibited by
this Indenture;

     (9) Liens to secure Indebtedness (including Capital Lease Obligations) permitted by
Section 4.09(b)(iv); provided that any such Lien (a) covers only the assets acquired,
constructed or improved with such Indebtedness and (b) is created within 365 days of such
acquisition, construction or improvement;

     (10) Liens incurred or deposits made in the ordinary course of business in connection
with worker’s compensation, unemployment insurance or other social security obligations;

     (11) Liens, deposits or pledges to secure the performance of bids, tenders, contracts
(other than contracts for the payment of Indebtedness), leases, or other similar obligations
arising in the ordinary course of business;

     (12) survey exceptions, encumbrances, easements or reservations of, or rights of other
for, rights of way, zoning or other restrictions as to the use of properties, and defects in
title which, in the case of any of the foregoing, were not incurred or created to secure the
payment of Indebtedness, and which in the aggregate do no materially adversely affect the
value of such properties or materially impair the use for the purposes of which such
properties are held by the Parent or any of its Restricted Subsidiaries;

     (13) judgment and attachment Liens not giving rise to an Event of Default and notices
of lis pendens and associated rights related to litigation being contested in good faith by
appropriate proceedings and for which adequate reserves have been made;

19

 

     (14) Liens, deposits or pledges to secure public or statutory obligations, surety,
stay, appeal, indemnity, performance or other similar bonds or obligations; and Liens,
deposits or pledges in lieu of such bonds or obligations, or to secure such bonds or
obligations, or to secure letters of credit in lieu of or supporting the payment of such
bonds or obligations;

     (15) Liens in favor of collecting or payor banks having a right of setoff, revocation,
refund or chargeback with respect to money or instruments of the Parent or any Subsidiary
thereof on deposit with or in possession of such bank;

     (16) any interest or title of a lessor, licensor or sublicensor in the property subject
to any lease, license or sublicense (other than any property that is the subject of a Sale
and Leaseback Transaction);

     (17) Liens for taxes, assessments and governmental charges not yet delinquent or being
contested in good faith and for which adequate reserves have been established to the extent
required by GAAP;

     (18) Liens arising from precautionary financing statements or similar documents
regarding operating leases or consignments;

     (19) Liens in favor of customs and revenue authorities arising as a matter of law to
secure payment of customs duties in connection with the importation of goods;

     (20) Liens on cash collateral not in excess of $150 million in the aggregate at any
time securing letters of credit;

     (21) carriers’, warehousemen’s, mechanics’, landlords’, materialmen’s, repairmen’s or
other like Liens arising in the ordinary course of business in respect of obligations not
overdue for a period in excess of 60 days or which are being contested in good faith by
appropriate proceedings promptly instituted and diligently prosecuted; provided, however,
that any reserve or other appropriate provision as shall be required to conform with GAAP
will have been made for that reserve or provision.

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

     (1) the amount of such Permitted Refinancing Indebtedness does not exceed the amount of
the Indebtedness so extended, refinanced, renewed, replaced, defeased or refunded (plus all
accrued and unpaid interest thereon and the amount of any reasonably determined premium
necessary to accomplish such refinancing and such reasonable expenses incurred in connection
therewith);

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

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     (3) if the Indebtedness being extended, refinanced, renewed, replaced, defeased or
refunded is subordinated in right of payment to the Notes or any Note Guarantee, such
Permitted Refinancing Indebtedness has a final maturity date later than the final maturity
date of the Notes and is subordinated in right of payment to the Notes or such Note
Guarantee, as applicable, on terms at least as favorable, taken as a whole, to the Holders
of Notes as those contained in the documentation governing the Indebtedness being extended,
refinanced, renewed, replaced, defeased or refunded;

     (4) if the Indebtedness being extended, refinanced, renewed, replaced, defeased or
refunded is pari passu in right of payment with the Notes or any Note Guarantee, such
Permitted Refinancing Indebtedness is pari passu with, or subordinated in right of payment
to, the Notes or such Note Guarantee; and

     (5) if the obligor on the Indebtedness being extended, refinanced, renewed, replaced,
defeased or refunded is (a) the Parent, such Indebtedness is Incurred by the Parent, (b) the
Company or a Subsidiary Guarantor, such Indebtedness is incurred by the Parent, the Company
or a Subsidiary Guarantor and (c) a Restricted Subsidiary that is not a Subsidiary Guarantor
or the Company, such Indebtedness is Incurred by the Parent or any of its Restricted
Subsidiaries.

          “Permitted Subordinated Indebtedness” means Indebtedness of the Parent, the Company or any
Subsidiary Guarantor that is expressly subordinated in right of payment to the Notes or the Note
Guarantee and that, by its terms (or by the terms of any security into which it is convertible, or
for which it is exchangeable, in each case at the option of the holder thereof), or upon the
happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation
or otherwise, or redeemable at the option of the holder thereof, in whole or in part, no earlier
than on or after the date that is one year after the date on which the Notes mature.
Notwithstanding the preceding sentence, any Indebtedness of the Parent, the Company or any
Subsidiary Guarantor that would not constitute Permitted Subordinated Indebtedness solely because
the holders thereof have the right to require the Parent, the Company or any Guarantor to
repurchase such Indebtedness upon the occurrence of a change of control or an asset sale will
nonetheless constitute Permitted Subordinated Indebtedness if the terms of such Indebtedness
provide that the Parent, the Company or the Subsidiary Guarantor, as the case may be, may not
repurchase or redeem any such Indebtedness pursuant to such provisions unless such repurchase or
redemption complies with Section 4.07.

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

          “Preferred Stock” means, with respect to any Person, any Capital Stock of such Person that has
preferential rights to any other Capital Stock of such Person with respect to dividends or
redemptions upon liquidation.

          “Priority Debt” means all Secured Indebtedness of the Parent, the Company or any Subsidiary
Guarantor and all Indebtedness of any Restricted Subsidiary of the Parent that is not the Issuer or
a Subsidiary Guarantor, other than (i) the Notes in the event the Notes become

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secured and (ii) Secured Indebtedness secured pursuant to Section 4.12 where the Notes are
secured on an equal and ratable or senior basis.

          “Priority Debt Leverage Ratio” means on any Transaction Date, the ratio of:

     (1) the aggregate amount of Priority Debt on a consolidated basis outstanding on such
Transaction Date, to

     (2) the aggregate amount of Consolidated Cash Flow of the Parent and its Restricted
Subsidiaries for the Four Quarter Period;

          In determining the Priority Debt Leverage Ratio:

     (A) pro forma effect shall be given to any Indebtedness that is to be incurred or
repaid on the Transaction Date;

     (B) pro forma effect shall be given to Asset Dispositions and Asset Acquisitions
(including giving pro forma effect to the application of proceeds of any Asset Disposition)
that occur during the Reference Period as if they had occurred and such proceeds had been
applied on the first day of such Reference Period; and

     (C) pro forma effect shall be given to asset dispositions and asset acquisitions
(including giving pro forma effect to the application of proceeds of any asset disposition)
that have been made by any Person that has become a Restricted Subsidiary of the Parent or
has been merged with or into the Parent or any Restricted Subsidiary during such Reference
Period and that would have constituted Asset Dispositions or Asset Acquisitions had such
transactions occurred when such Person was a Restricted Subsidiary, as if such asset
dispositions or asset acquisitions were Asset Dispositions or Asset Acquisitions that
occurred on the first day of such Reference Period.

          To the extent that pro forma effect is given to an Asset Acquisition or Asset Disposition,
such pro forma calculation shall be based upon the four full fiscal quarters immediately preceding
the Transaction Date of the Person, or division, operating unit or line of business of the Person,
that is acquired or disposed of for which financial information is available, and Consolidated Cash
Flow will be calculated on a pro forma basis in accordance with Regulation S-X under the Securities
Act, but without giving effect to clause (3) of the proviso set forth in the definition of
Consolidated Net Income.

          “Prospectus Supplement” means the base prospectus,
dated    as supplemented by prospectus
supplement relating to the Notes, dated    .

          “Reference Period” means, with respect to any specified Transaction Date, the period beginning
on the first day of the Four Quarter Period and ending on such Transaction Date.

          “Replacement Assets” means (1) capital expenditures or other non-current assets that will be
used or useful in a Permitted Business, (2) substantially all the assets of a Permitted Business or
(3) Voting Stock of any Person engaged in a Permitted Business that, when taken

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together with all other Voting Stock of such Person owned by the Parent and its Restricted
Subsidiaries, constitutes a majority of the Voting Stock of such Person and such Person shall
become on the date of acquisition thereof a Restricted Subsidiary.

          “Responsible Officer,” when used with respect to the Trustee, means any officer within the
Corporate Trust Administration of the Trustee (or any successor group of the Trustee) 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.

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

          “Restricted Subsidiary” of a Person means any Subsidiary of such Person that is not an
Unrestricted Subsidiary.

          “S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, and its successors.

          “Sale and Leaseback Transaction” means, with respect to any Person, any transaction involving
any of the assets or properties of such Person, whether now owned or hereafter acquired, whereby
such Person sells or otherwise transfers such assets or properties and then or thereafter leases
such assets or properties or any part thereof or any other assets or properties which such Person
intends to use for substantially the same purpose or purposes as the assets or properties sold or
transferred.

          “Secured Indebtedness” means any Indebtedness secured by a Lien upon property or assets of the
Parent or any of its Restricted Subsidiaries.

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

          “Significant Subsidiary” means any Subsidiary that would constitute a “significant subsidiary”
within the meaning of Article 1 of Regulation S-X of the Securities Act.

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

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

     (1) any corporation, association or other business entity of which more than 50% of the
total voting power of the Voting Stock is at the time owned or controlled, directly or
indirectly, by such Person or one or more of the other Subsidiaries of that Person (or a
combination thereof); and

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     (2) any partnership (a) the sole general partner or the managing general partner of
which is such Person or a Subsidiary of such Person or (b) the only general partners of
which are such Person or one or more Subsidiaries of such Person (or any combination
thereof).

          “Subsidiary Debt Leverage Ratio” means on any Transaction Date, the ratio of:

     (1) the aggregate amount of Priority Debt and, without duplication, any Indebtedness of
the Company and the Subsidiary Guarantors on a consolidated basis outstanding on such
Transaction Date, to

     (2) the aggregate amount of Consolidated Cash Flow of the Parent and its Restricted
Subsidiaries for the Four Quarter Period

	 	 	In determining the Subsidiary Debt Leverage Ratio:

     (1) pro forma effect shall be given to any Indebtedness that is to be incurred or
repaid on the Transaction Date;

     (2) pro forma effect shall be given to Asset Dispositions and Asset Acquisitions
(including giving pro forma effect to the application of proceeds of any Asset Disposition)
that occur during the Reference Period as if they had occurred and such proceeds had been
applied on the first day of such Reference Period;

     (3) pro forma effect shall be given to asset dispositions and asset acquisitions
including giving pro forma effect to the application of proceeds of any asset disposition)
that have been made by any Person that has become a Restricted Subsidiary of the Parent or
has been merged with or into the Parent or any Restricted Subsidiary during such Reference
Period and that would have constituted Asset Dispositions or Asset Acquisitions had such
transactions occurred when such Person was a Restricted Subsidiary, as if such asset
dispositions or asset acquisitions were Asset Dispositions or Asset Acquisitions that
occurred on the first day of such Reference Period.

          To the extent that pro forma effect is given to an Asset Acquisition or Asset Disposition,
such pro forma calculation shall be based upon the four full fiscal quarters immediately preceding
the Transaction Date of the Person, or division, operating unit or line of business of the Person,
that is acquired or disposed of for which financial information is available, and Consolidated Cash
Flow will be calculated on a pro forma basis in accordance with Regulation S-X under the Securities
Act, but without giving effect to clause (3) of the proviso set forth in the definition of
Consolidated Net Income.

          “Subsidiary Guarantor” means any Restricted Subsidiary of the Parent that guarantees the
Company’s Obligations under the Notes in accordance with the terms of this Indenture, and its
successors and assigns, until released from its obligations under such Guarantee and this Indenture
in accordance with the terms of this Indenture.

          “TIA” means the Trust Indenture Act of 1939, as in effect on the date on which this Indenture
is qualified under the TIA.

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          “Transaction Date” means, with respect to the incurrence of any Indebtedness by the Parent or
any of its Restricted Subsidiaries, the date such Indebtedness is to be incurred, with respect to
any Restricted Payment, the date such Restricted Payment is to be made, and with respect to the
incurrence of any Lien by the Parent or any of its Restricted Subsidiaries, the date such Lien is
to be incurred.

          “Treasury Rate” means the yield to maturity at the time of computation of United States
Treasury securities with a constant maturity (as compiled and published in the most recent Federal
Reserve Statistical Release H.15 (519) which has become publicly available at least two Business
Days prior to the date fixed for prepayment (or, if such Statistical Release is no longer
published, any publicly available source for similar market data)) most nearly equal to the then
remaining term of the Notes to       provided, however, that if the then remaining term of the Notes to
      is not equal to the constant maturity of a United States Treasury security for which a weekly
average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to
the nearest one-twelfth of a year) from the weekly average yields of United States Treasury
securities for which such yields are given, except that if the then remaining term of the Notes to
      is less than one year, the weekly average yield on actually traded United States Treasury
securities adjusted to a constant maturity of one year shall be used.

          “Trustee” means Wilmington Trust Company, until a successor replaces it in accordance with the
applicable provisions of this Indenture and thereafter means the successor serving hereunder.

          “Unrestricted Subsidiary” means any Subsidiary of the Parent (other than the Company) that is
designated by the Board of Directors of the Parent as an Unrestricted Subsidiary pursuant to a
Board Resolution in compliance with Section 4.16 hereof and any Subsidiary of such Subsidiary.

          “Voting Stock” of any Person as of any date means the Capital Stock of such Person that is
ordinarily entitled to vote in the election of the Board of Directors of such Person.

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

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

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

          “Wireless Licenses” means broadband personal communications service licenses or other licenses
for the provision of wireless telecommunications services or operation of wireless
telecommunications systems issued from time to time by the applicable government agency or other
authority in the jurisdictions where the Parent and its Restricted Subsidiaries operate.

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          Section 1.02. Other Definitions.

	 	 	 	 	 
	 	 	Defined
	 	 	in
	Term	 	Section
	“Affiliate Transaction”
	 	 	4.11	 
	“Asset Sale Offer”
	 	 	4.10	 
	“Authentication Order”
	 	 	2.02	 
	“Change of Control Offer”
	 	 	4.14	 
	“Change of Control Payment”
	 	 	4.14	 
	“Change of Control Payment Date”
	 	 	4.14	 
	“Covenant Defeasance”
	 	 	8.03	 
	“Covenant Suspension Event”
	 	 	4.15	 
	“DTC”
	 	 	2.01	 
	“Event of Default”
	 	 	6.01	 
	“Excess Proceeds”
	 	 	4.10	 
	“Excess Proceeds Trigger Date”
	 	 	4.10	 
	“Legal Defeasance”
	 	 	8.02	 
	“Offer Amount”
	 	 	3.08	 
	“Offer Period”
	 	 	3.08	 
	“Paying Agent”
	 	 	2.04	 
	“Payment Default”
	 	 	6.01	 
	“Permitted Debt”
	 	 	4.09	 
	“Purchase Date”
	 	 	3.08	 
	“Registrar”
	 	 	2.04	 
	“Related Proceedings”
	 	 	12.09	 
	“Repurchase Offer”
	 	 	3.08	 
	“Restricted Payments”
	 	 	4.07	 
	“Specified Courts”
	 	 	12.09	 
	“Suspension Period”
	 	 	4.15	 

          Section 1.03. Incorporation by Reference of Trust Indenture Act.

          Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by
reference in and made a part of this Indenture.

          The following TIA terms used in this Indenture have the following meanings:

          “indenture securities” means the Notes;

          “indenture security Holder” means a Holder of a Note;

          “indenture to be qualified” means this Indenture;

          “indenture trustee” or “institutional trustee” means the Trustee; and

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           “obligor” on the Notes means the Company and any successor obligor upon the Notes.

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

          Section 1.04. Rules of Construction.

          (a) Unless the context otherwise requires:

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

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

     (iii) “or” is not exclusive;

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

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

     (vi) references to sections of or rules under the Securities Act shall be deemed to
include substitute, replacement of successor sections or rules adopted by the Commission
from time to time.

ARTICLE TWO

THE NOTES

          Section 2.01. Form and Dating.

          (a) General. The Notes and the Trustee’s certificate of authentication shall be substantially
in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by
law, stock exchange rule or usage. Each Note shall be dated the date of its authentication. The
Notes shall be issued in registered, global form without interest coupons and only shall be in
minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof; provided that
Notes may be issuable in denominations less than $1,000 solely to the extent necessary to
accommodate book-entry positions created in such amounts by The Depository Trust Company (“DTC”).

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

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          (b) Notes issued in global form shall be substantially in the form of Exhibit A attached
hereto (and shall include the Global Note Legend thereon and the “Schedule of Exchanges of
Interests in the Global Note” attached thereto). Notes issued in definitive form shall be
substantially in the form of Exhibit A attached hereto (but without the Global Note Legend thereon
and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each
Global Note shall represent such of the outstanding Notes as shall be specified therein and each
shall provide that it shall represent the aggregate principal amount of outstanding Notes from time
to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented
thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and
redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in
the aggregate principal amount of outstanding Notes represented thereby shall be made by the
Trustee in accordance with instructions given by the Holder thereof as required by Section 2.07
hereof.

          Each Global Note shall bear a legend in substantially the following form:

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE)
OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT
TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH
NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.07 OF THE INDENTURE, (II) THIS
GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.07(a) OF THE
INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT
TO SECTION 2.12 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.

          Section 2.02. Execution and Authentication.

          Two Officers of the Company shall sign the Notes for the Company by manual or facsimile
signature.

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

          A Note shall not be valid until authenticated by the manual signature of the Trustee. Such
signature shall be conclusive evidence that the Note has been authenticated under this Indenture.

          The aggregate principal amount of Notes which may be authenticated and delivered under this
Indenture is unlimited. The Company may, subject to Article Four of this Indenture and applicable
law, issue Additional Notes under this Indenture. The Notes issued on the Issue Date and any
Additional Notes subsequently issued shall be treated as a single class for all purposes under this
Indenture.

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          The Trustee shall, upon a written order of the Company signed by two Officers of the Company
(an “Authentication Order”), authenticate Notes for original issue on the date hereof of $      million.
At any time and from time to time after the execution of this Indenture, the Trustee shall, upon
receipt of an Authentication Order, authenticate Notes for original issue in aggregate principal
amount specified in such Authentication Order. The Authentication Order shall specify the amount
of Notes to be authenticated and the date on which the Notes are to be authenticated.

          The Trustee may appoint an authenticating agent acceptable to the Company to authenticate
Notes. An authenticating agent may authenticate Notes whenever the Trustee may do so. Each
reference in this Indenture to authentication by the Trustee includes authentication by such agent.
An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of
the Company.

          Section 2.03. Methods of Receiving Payments on the Notes.

          If a Holder has given wire transfer instructions to the Company, the Company shall pay, or
cause the Paying Agent to pay, all principal, interest and premium on that Holder’s Notes in
accordance with those instructions. All other payments on Notes shall be made at the office or
agency of the Paying Agent and Registrar unless the Company elects to make interest payments by
check mailed to the Holders at their addresses set forth in the register of Holders.

          Section 2.04. Registrar and Paying Agent.

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

          (b) The Company initially appoints DTC to act as Depositary with respect to the Global Notes.

          (c) The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to
act as Custodian with respect to the Global Notes.

          Section 2.05. Paying Agent to Hold Money in Trust.

          The Company shall require each Paying Agent other than the Trustee to agree in writing that
the Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by
the Paying Agent for the payment of principal, premium or interest on the Notes, and shall notify
the Trustee of any default by the Company in making any such payment. While

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any such default continues, the Trustee may require a Paying Agent to pay all money held by it
to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to
the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company or one
of its Subsidiaries) shall have no further liability for the money. If the Company or one of its
Subsidiaries acts as Paying Agent, it shall segregate and hold in a separate trust fund for the
benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization
proceedings relating to the Company, the Trustee shall serve as Paying Agent for the Notes.

          Section 2.06. Holder Lists.

          The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of all Holders and shall otherwise comply with TIA
§ 312(a). If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least
seven Business Days before each interest payment date and at such other times as the Trustee may
request in writing, a list in such form and as of such date as the Trustee may reasonably require
of the names and addresses of the Holders of Notes and the Company shall otherwise comply with TIA
§ 312(a).

          Section 2.07. Transfer and Exchange.

          (a) A Global Note may not be transferred as a whole except by the Depositary to a nominee of
the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the
Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such
successor Depositary. All Global Notes are exchangeable by the Company for Definitive Notes if (i)
DTC (A) notifies the Company that it is unwilling or unable to continue as Depositary for the
Global Notes and the Company fails to appoint a successor Depositary or that it (B) has ceased to
be a clearing agency registered under the Exchange Act and the Company fails to appoint a successor
Depositary; (ii) the Company, at its option, notifies the Trustee in writing that it elects to
cause the issuance of Definitive Notes; or (iii) there shall have occurred and be continuing a
Default or Event of Default with respect to the Notes. Upon the occurrence of any of the preceding
events in (i), (ii) or (iii) above, Definitive Notes shall be issued in such names as the
Depositary shall instruct the Trustee. Global Notes also may be exchanged or replaced, in whole or
in part, as provided in Sections 2.08 and 2.11 hereof. Every Note authenticated and delivered in
exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.07 or
Section 2.08 or 2.11 hereof, shall be authenticated and delivered in the form of, and shall be, a
Global Note. A Global Note may not be exchanged for another Note other than as provided in this
Section 2.07(a).

          (b) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests
in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note
has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be
returned to or retained and canceled by the Trustee in accordance with Section 2.12 hereof. At any
time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or
transferred to a Person who shall take delivery thereof in the form of a beneficial interest in
another Global Note or for Definitive Notes, the principal amount of Notes represented by such
Global Note shall be reduced accordingly and an endorsement shall

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be made on such Global Note by the Trustee or by the Depositary at the direction of the
Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or
transferred to a Person who shall take delivery thereof in the form of a beneficial interest in
another Global Note, such other Global Note shall be increased accordingly and an endorsement shall
be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to
reflect such increase.

          (c) General Provisions Relating to Transfers and Exchanges.

     (i) To permit registrations of transfers and exchanges, the Company shall execute and
the Trustee shall authenticate Global Notes and Definitive Notes upon the Company’s order or
at the Registrar’s request.

     (ii) No service charge shall be made to a Holder of a beneficial interest in a Global
Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any transfer tax or similar
governmental charge payable in connection therewith (other than any such transfer taxes or
similar governmental charge payable upon exchange or transfer pursuant to Sections 2.11,
3.06, 3.08, 4.10, 4.14 and 9.05 hereof).

     (iii) The Registrar shall not be required to register the transfer of or exchange any
Note selected for redemption in whole or in part, except the unredeemed portion of any Note
being redeemed in part.

     (iv) All Global Notes and Definitive Notes issued upon any registration of transfer or
exchange of Global Notes or Definitive Notes shall be the valid and legally binding
obligations of the Company, evidencing the same debt, and entitled to the same benefits
under this Indenture, as the Global Notes or Definitive Notes surrendered upon such
registration of transfer or exchange.

     (v) The Company shall not be required (A) to issue, to register the transfer of or to
exchange any Notes during a period beginning at the opening of business 15 days before the
day of any selection of Notes for redemption under Section 3.02 hereof and ending at the
close of business on the day of selection, (B) to register the transfer of or to exchange
any Note so selected for redemption in whole or in part, except the unredeemed portion of
any Note being redeemed in part, (C) to register the transfer of or to exchange a Note
between a record date and the next succeeding interest payment date or (D) to register the
transfer of or to exchange a Note tendered and not withdrawn in connection with a Change of
Control Offer or an Asset Sale Offer.

     (vi) Prior to due presentment for the registration of a transfer of any Note, the
Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is
registered as the absolute owner of such Note for the purpose of receiving payment of
principal of and interest on such Notes and for all other purposes, and none of the Trustee,
any Agent or the Company shall be affected by notice to the contrary.

     (vii) The Trustee shall authenticate Global Notes and Definitive Notes in accordance
with the provisions of Section 2.02 hereof.

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     (viii) All certifications, certificates and Opinions of Counsel required to be
submitted to the Registrar pursuant to this Section 2.07 to effect a registration of
transfer or exchange may be submitted by facsimile or electronic transmission with the
original to follow by first class mail.

          Section 2.08. Replacement Notes.

          (a) If any mutilated Note is surrendered to the Trustee or the Company and the Trustee
receives evidence to its satisfaction of the destruction, loss or theft of any Note, the Company
shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a
replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Company,
an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee
and the Company to protect the Company, the Trustee, any Agent and any authenticating agent from
any loss that any of them may suffer if a Note is replaced. The Company may charge for its
expenses in replacing a Note.

          (b) Every replacement Note is an additional obligation of the Company and shall be entitled to
all of the benefits of this Indenture equally and proportionately with all other Notes duly issued
hereunder.

          Section 2.09. Outstanding Notes.

          (a) The Notes outstanding at any time are all the Notes authenticated by the Trustee except
for those canceled by it, those delivered to it for cancellation, those reductions in the interest
in a Global Note effected by the Trustee in accordance with the provisions hereof, and those
described in this Section as not outstanding. Except as set forth in Section 2.10 hereof, a Note
does not cease to be outstanding because the Company or an Affiliate of the Company holds the Note;
however, Notes held by the Company or a Subsidiary of the Company shall not be deemed to be
outstanding for purposes of Section 3.07(b) hereof.

          (b) If a Note is replaced pursuant to Section 2.08 hereof, it ceases to be outstanding unless
the Trustee receives proof satisfactory to it that the replaced Note is held by a bona fide
purchaser.

          (c) If the principal amount of any Note is considered paid under Section 4.01 hereof, it
ceases to be outstanding and interest on it ceases to accrue.

          (d) If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any of the
foregoing) holds, on a redemption date or maturity date, money sufficient to pay Notes payable on
that date, then on and after that date such Notes shall be deemed to be no longer outstanding and
shall cease to accrue interest.

          Section 2.10. Treasury Notes.

          In determining whether the Holders of the required principal amount of Notes have concurred in
any direction, waiver or consent, Notes owned by the Company or the Parent, or by any Person
directly or indirectly controlling or controlled by or under direct or indirect common control with
the Company or the Parent, shall be considered as though not outstanding,

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except that for the purposes of determining whether the Trustee shall be protected in relying
on any such direction, waiver or consent, only Notes that the Trustee knows are so owned shall be
so disregarded.

          Section 2.11. Temporary Notes.

          (a) Until certificates representing Notes are ready for delivery, the Company may prepare and
the Trustee, upon receipt of an Authentication Order, shall authenticate temporary Notes.
Temporary Notes shall be substantially in the form of Definitive Notes but may have variations that
the Company considers appropriate for temporary Notes and as shall be reasonably acceptable to the
Trustee. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate
definitive Notes in exchange for temporary Notes.

          (b) Holders of temporary Notes shall be entitled to all of the benefits of this Indenture.

          Section 2.12. Cancellation.

          The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and
Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee and no one else shall cancel all Notes surrendered for
registration of transfer, exchange, payment, replacement or cancellation and shall dispose of
canceled Notes in accordance with its procedures for the disposition of canceled securities in
effect as of the date of such disposition (subject to the record retention requirement of the
Exchange Act). Certification of the disposition of all canceled Notes shall be delivered to the
Company. The Company may not issue new Notes to replace Notes that it has paid or that have been
delivered to the Trustee for cancellation.

          Section 2.13. Defaulted Interest.

          If the Company defaults in a payment of interest on the Notes, it shall pay the defaulted
interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted
interest, to the Persons who are Holders on a subsequent special record date, in each case at the
rate provided in the Notes and in Section 4.01 hereof. The Company shall notify the Trustee in
writing of the amount of defaulted interest proposed to be paid on each Note and the date of the
proposed payment. The Company shall fix or cause to be fixed each such special record date and
payment date, provided that no such special record date shall be less than 10 days prior to the
related payment date for such defaulted interest. At least 15 days before the special record date,
the Company (or, upon the written request of the Company, the Trustee in the name and at the
expense of the Company) shall deliver or cause to be delivered to Holders a notice that states the
special record date, the related payment date and the amount of such interest to be paid.

          Section 2.14. CUSIP Numbers.

          The Company in issuing the Notes may use “CUSIP” numbers (if then generally in use), and, if
so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders;
provided that any such notice may state that no representation is made

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as to the correctness of such numbers either as printed on the Notes or as contained in any
notice of a redemption and that reliance may be placed only on the other identification numbers
printed on the Notes, and any such redemption shall not be affected by any defect in or omission of
such numbers. The Company shall promptly notify the Trustee of any change in the “CUSIP” numbers.

ARTICLE THREE

REDEMPTION AND OFFERS TO

PURCHASE

          Section 3.01. Notices to Trustee.

          If the Company elects to redeem Notes pursuant to the optional redemption provisions of
Section 3.07 hereof, it shall furnish to the Trustee, at least 30 days but not more than 60 days
before a redemption date, an Officers’ Certificate setting forth (i) the clause of this Indenture
pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the principal amount
of Notes to be redeemed and (iv) the redemption price.

          Section 3.02. Selection of Notes to Be Redeemed.

          (a) If less than all of the Notes are to be redeemed at any time, the Trustee shall select the
Notes for redemption as follows (i) if the Notes are listed on any national securities exchange, in
compliance with the requirements of such principal national securities exchange, or, (ii) if the
Notes are not so listed, on a pro rata basis, subject to adjustments so that no Notes of $2,000 or
less will be redeemed in part.

          (b) The Trustee shall promptly notify the Company in writing of the Notes selected for
redemption and, in the case of any Note selected for partial redemption, the principal amount
thereof to be redeemed. No Notes in amounts of $2,000 or less shall be redeemed in part. Notes
and portions of Notes selected shall be in amounts of $2,000 or whole multiples of $1,000; except
that if all of the Notes of a Holder are to be redeemed, the entire outstanding amount of Notes
held by such Holder, even if not a multiple of $1,000, shall be redeemed. Except as provided in
the preceding sentence, provisions of this Indenture that apply to Notes called for redemption also
apply to portions of Notes called for redemption.

          Section 3.03. Notice of Redemption.

          (a) At least 30 days but not more than 60 days before a redemption date, the Company shall
deliver or cause to be delivered, by first class mail or electronic transmission, a notice of
redemption to each Holder whose Notes are to be redeemed at its registered address.

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

     (i) the redemption date;

     (ii) the redemption price;

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

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

     (v) that Notes called for redemption must be surrendered to the Paying Agent to collect
the redemption price and become due on the date fixed for redemption;

     (vi) that, unless the Company defaults in making such redemption payment, interest, if
any, on Notes called for redemption ceases to accrue on and after the redemption date;

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

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

          (b) At the Company’s request, the Trustee shall give the notice of redemption in the Company’s
name and at its expense; provided, however, that the Company shall have delivered to the Trustee,
at least 45 days prior to the redemption date, an Officers’ Certificate requesting that the Trustee
give such notice and setting forth the information to be stated in such notice as provided in the
preceding paragraph. The notice, if delivered in the manner provided herein shall be presumed to
have been given, whether or not the Holder receives such notice.

          Section 3.04. Effect of Notice of Redemption.

          Once notice of redemption is delivered in accordance with Section 3.03 hereof, Notes called
for redemption become irrevocably due and payable on the redemption date at the redemption price.
A notice of redemption may not be conditional.

          Section 3.05. Deposit of Redemption Price.

          (a) One Business Day prior to the redemption date, the Company shall deposit with the Trustee
or with the Paying Agent money sufficient to pay the redemption price of and accrued interest on
all Notes to be redeemed on that date. The Trustee or the Paying Agent shall promptly return to
the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of
the amounts necessary to pay the redemption price of, and accrued interest on, all Notes to be
redeemed.

          (b) If the Company complies with the provisions of the preceding paragraph, on and after the
redemption date, interest shall cease to accrue on the Notes or the portions of Notes called for
redemption. If a Note is redeemed on or after an interest record date but on or prior to the
related interest payment date, then any accrued and unpaid interest shall be paid to the Person in
whose name such Note was registered at the close of business on such record date.

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If any Note called for redemption shall not be so paid upon surrender for redemption because
of the failure of the Company to comply with the preceding paragraph, interest shall be paid on the
unpaid principal, from the redemption date until such principal is paid, and to the extent lawful
on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes
and in Section 4.01 hereof.

          Section 3.06. Notes Redeemed in Part.

          Upon surrender and cancellation of a Note that is redeemed in part, the Company shall issue
and the Trustee shall authenticate for the Holder at the expense of the Company a new Note equal in
principal amount to the unredeemed portion of the Note surrendered. No Notes in denominations of
$2,000 or less shall be redeemed in part.

          Section 3.07. Optional Redemption.

          (a) At any time on or after , the Company may redeem all or a part of the Notes upon not less
than 30 nor more than 60 days’ prior notice, at the redemption prices set forth below (expressed as
percentages of principal amount), plus accrued and unpaid interest on the Notes to be redeemed to
the date of redemption (subject to the right of Holders on the relevant record date to receive
interest due on the related interest payment date), if redeemed during the twelve-month period
beginning on of the years indicated below:

	 	 	 	 	 	 	 	 	 
	Year	 	 	Percentage
	 	 	 	 	 
	 	 	 	%
	 	 	 	 	 
	 	 	 	%
	 	 	 	 	 
	 	 	 	%
	and thereafter
	 	 	100.000	%

          (b) At any time prior to       , the Company may (on any one or more occasions) redeem up to 35% of
the aggregate principal amount of Notes issued hereunder (including any Additional Notes) at a
redemption price of      % of the principal amount thereof, plus accrued and unpaid interest
thereon to the redemption date, with the net cash proceeds of one or more Equity Offerings;
provided that (A) at least 65% of the aggregate principal amount of Notes issued under this
Indenture (including any Additional Notes) remains outstanding immediately after the occurrence of
such redemption (excluding Notes held by the Company and its Affiliates); and (B) the redemption
must occur within 180 days of the date of the closing of such Equity Offering.

          (c) At any time prior to       , the Company may redeem all or part of the Notes upon not less than
30 nor more than 60 days’ prior notice at a redemption price equal to the sum of (i) 100% of the
principal amount thereof, plus (ii) the Applicable Premium as of the date of redemption, plus,
(iii) accrued and unpaid interest to the date of redemption.

          (d) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of
Sections 3.01 through 3.06 hereof.

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          Section 3.08. Repurchase Offers.

          In the event that, pursuant to Section 4.10 or 4.14 hereof, the Company shall be required to
commence an offer to all Holders to purchase their respective Notes (a “Repurchase Offer”), it
shall follow the procedures specified in such Sections and, to the extent not inconsistent
therewith, the procedures specified below.

          The Repurchase Offer shall remain open for a period of no less than 30 days and no more than
60 days following its commencement, except to the extent that a longer period is required by
applicable law (the “Offer Period”). No later than three Business Days after the termination of
the Offer Period (the “Purchase Date”), the Company shall purchase the principal amount of Notes
required to be purchased pursuant to Section 4.10 or 4.14 hereof (the “Offer Amount”) or, if less
than the Offer Amount has been tendered, all Notes tendered in response to the Repurchase Offer.
Payment for any Notes so purchased shall be made in the same manner as interest payments are made.

          If the Purchase Date is on or after an interest record date and on or before the related
interest payment date, any accrued and unpaid interest shall be paid to the Person in whose name a
Note is registered at the close of business on such record date, and no additional interest shall
be payable to Holders who tender Notes pursuant to the Repurchase Offer.

          Upon the commencement of a Repurchase Offer, the Company shall send or cause to be sent, by
first class mail or electronic transmission, a notice to the Trustee and each of the Holders. The
notice shall contain all instructions and materials necessary to enable such Holders to tender
Notes pursuant to the Repurchase Offer. The Repurchase Offer shall be made to all Holders. The
notice, which shall govern the terms of the Repurchase Offer, shall state:

     (i) that the Repurchase Offer is being made pursuant to this Section 3.08 and Section
4.10 or Section 4.14 hereof, and the length of time the Repurchase Offer shall remain open;

     (ii) the Offer Amount, the purchase price and the Purchase Date;

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

     (iv) that, unless the Company defaults in making such payment, any Note (or portion
thereof) accepted for payment pursuant to the Repurchase Offer shall cease to accrue
interest after the Purchase Date;

     (v) that Holders electing to have a Note purchased pursuant to a Repurchase Offer may
elect to have Notes purchased in principal amounts of $2,000 or on integral multiples of
$1,000 only;

     (vi) that Holders electing to have a Note purchased pursuant to any Repurchase Offer
shall be required to surrender the Note, with the form entitled “Option of Holder to Elect
Purchase” on the reverse of the Note completed, or transfer by book-entry transfer, to the
Company, a depositary, if appointed by the Company, or a

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Paying Agent at the address specified in the notice at least three days before the
Purchase Date;

     (vii) that Holders shall be entitled to withdraw their election if the Company, the
Depositary or the Paying Agent, as the case may be, receives, not later than the expiration
of the Offer Period, a telegram, telex, facsimile transmission or letter setting forth the
name of the Holder, the principal amount of the Note the Holder delivered for purchase and a
statement that such Holder is withdrawing his election to have such Note purchased;

     (viii) that, if the aggregate amount of Notes surrendered by Holders exceeds the Offer
Amount, the Trustee shall, subject in the case of a Repurchase Offer made pursuant to
Section 4.10 to the provisions of Section 4.10, select the Notes to be purchased on a pro
rata basis (with such adjustments as may be deemed appropriate by the Trustee so that only
Notes in denominations of $2,000 or an integral multiple in excess thereof, shall be
purchased); and

     (ix) that Holders whose Notes were purchased only in part shall be issued new Notes
equal in principal amount to the unpurchased portion of the Notes surrendered (or
transferred by book-entry transfer).

          On the Purchase Date, the Company shall, to the extent lawful, subject to the provisions of
Sections 4.10 and 4.14, accept for payment on a pro rata basis to the extent necessary, the Offer
Amount of Notes (or portions thereof) tendered pursuant to the Repurchase Offer, or if less than
the Offer Amount has been tendered, all Notes tendered, and shall deliver to the Trustee an
Officers’ Certificate stating that such Notes (or portions thereof) were accepted for payment by
the Company in accordance with the terms of this Section 3.08. The Company, the Depositary or the
Paying Agent, as the case may be, shall promptly (but in any case not later than three days after
the Purchase Date) mail or deliver to each tendering Holder an amount equal to the purchase price
of Notes tendered by such Holder, as the case may be, and accepted by the Company for purchase, and
the Company, shall promptly issue a new Note. The Trustee, upon written request from the Company
shall authenticate and mail or deliver such new Note to such Holder, in a principal amount at
maturity equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall
be promptly mailed or delivered by the Company to the respective Holder thereof. The Company shall
publicly announce the results of the Repurchase Offer on the Purchase Date.

          The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act, and any
other securities laws and regulations thereunder to the extent such laws or regulations are
applicable in connection with the repurchase of the Notes pursuant to a Repurchase Offer and shall
not be deemed to have breached its obligations under Section 3.08, 4.10 or 4.14 by virtue of such
compliance.

          Section 3.09. Application of Trust Money.

          All money deposited with the Trustee pursuant to Section 11.02 shall be held in trust and
applied by it, in accordance with the provisions of the Notes and this Indenture, to the

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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 for whose payment such money has been deposited with the Trustee; but
such money need not be segregated from other funds except to the extent required by law.

ARTICLE FOUR

COVENANTS

          Section 4.01. Payment of Notes.

          (a) The Company shall pay or cause to be paid the principal of, premium, if any, and interest
on the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and
interest shall be considered paid on the date due if the Paying Agent, if other than the Company or
one of its Subsidiaries, holds as of 11:00 a.m. Eastern Time on the due date money deposited by the
Company in immediately available funds and designated for and sufficient to pay all principal,
premium, if any, and interest then due.

          (b) The Company shall pay interest (including post-petition interest in any proceeding under
any Bankruptcy Law) on overdue principal at the rate equal to 1% per annum in excess of the then
applicable interest rate on the Notes to the extent lawful; it shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest (without regard to any applicable grace period) at the same rate to the extent lawful.

          Section 4.02. Maintenance of Office or Agency.

          (a) The Company shall maintain an office or agency (which may be an office of the Trustee or
an agent of the Trustee, Registrar or co-registrar) where Notes may be surrendered for registration
of transfer or for exchange and where notices and demands to or upon the Company in respect of the
Notes and this Indenture may be served. The Company shall give prompt written notice to the
Trustee of the location, and any change in the location, of such office or agency. If at any time
the 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.

          (b) 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. The Company shall give prompt written notice to the Trustee of any
such designation or rescission and of any change in the location of any such other office or
agency.

          (c) The Company hereby designates the Corporate Trust Office of the Trustee as one such office
or agency of the Company in accordance with Section 2.04 of this Indenture.

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          Section 4.03. Reports.

          (a) Each of the Parent and the Company shall furnish to the Trustee and, upon written request,
to beneficial owners and prospective investors, a copy of all of the information and reports
referred to in clauses (i) and (ii) below within the time periods specified in the Commission’s
rules and regulations (including all applicable extension periods):

     (i) all quarterly and annual financial information that would be required to be
contained in a filing with the Commission on Forms 10-Q and 10-K if it were required to file
such Forms, including a “Management’s Discussion and Analysis of Financial Condition and
Results of Operations” and, with respect to the annual information only, a report on the
annual financial statements by its certified independent accountants; and

     (ii) all current reports that would be required to be filed with the Commission on Form
8-K if it were required to file such reports.

          (b) Whether or not required by the Commission, the Parent and the Company shall comply with
the periodic reporting requirements of the Exchange Act and shall file the reports specified in
clauses (a)(i) and (ii) of this Section 4.03 with the Commission within the time periods specified
above unless the Commission shall not accept such a filing. To the extent such filings are made,
the reports will be deemed to be furnished to the Trustee and the Holders of the Notes. The Parent
and the Company each agrees that it shall not take any action for the purpose of causing the
Commission not to accept any such filings. If, notwithstanding the foregoing, the Commission shall
not accept the Parent’s or the Company’s filings for any reason, the Parent or the Company, as the
case may be, shall post the reports referred to in Section 4.03(a) on its website within the time
periods that would apply if the Parent or the Company were required to file those reports with the
Commission (including all applicable extension periods).

          (c) If the Parent has designated any of its Subsidiaries as Unrestricted Subsidiaries, then
the quarterly and annual financial information required by this Section 4.03 shall include a
summary presentation, either on the face of the financial statements or in the footnotes thereto,
or in “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” of
the revenues, net income, total assets and total liabilities of the Parent and its Restricted
Subsidiaries separate from the revenues, net income, total assets and total liabilities of the
Unrestricted Subsidiaries of the Parent; provided that the foregoing will not apply if the
Subsidiaries that the Parent has designated as Unrestricted Subsidiaries in the aggregate do not
constitute a “Significant Subsidiary” as such term is defined under Rule 1-02(w) of Regulation S-X
under the Exchange Act.

          (d) Notwithstanding the foregoing, so long as the Parent is a Guarantor, the reports,
information and other documents required to be filed and provided by the Company as provided in
this Section 4.03 shall be satisfied by those of Parent, so long as such filings would satisfy the
Commission’s requirements.

40

 

          (e) Notwithstanding anything herein to the contrary, neither the Parent nor the Company shall
be deemed to have failed to comply with any of its obligations hereunder for purposes of Section
6.01(a)(iv) until 120 days after the date any report hereunder is due.

          Section 4.04. Compliance Certificate.

          (a) The Parent, the Company and each other Guarantor (to the extent that such Guarantor is so
required under the TIA) shall deliver to the Trustee, within 90 days after the end of each fiscal
year, an Officers’ Certificate stating that a review of the activities of the Parent and its
Subsidiaries during the preceding fiscal year has been made under the supervision of the signing
Officers with a view to determining whether the Parent has kept, observed, performed and fulfilled
its obligations under this Indenture, and further stating, as to each such Officer signing such
certificate, that to the best of his or her knowledge, the Parent has kept, observed, performed and
fulfilled its obligations under this Indenture and is not in default in the performance or
observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or
Event of Default shall have occurred, describing all such Defaults or Events of Default of which he
or she may have knowledge and what action the Parent is taking or proposes to take with respect
thereto) and that to the best of his or her knowledge no event has occurred and remains in
existence by reason of which payments on account of the principal of or interest, if any, on the
Notes is prohibited or if such event has occurred, a description of the event and what action the
Parent is taking or proposes to take with respect thereto.

          (b) So long as not contrary to the then current recommendations of the Public Company
Accounting Oversight Board (United States), the Company shall exercise its commercially reasonable
efforts to ensure that the year-end financial statements delivered pursuant to Section 4.03(a) or
Sections 4.03(e), as applicable, above are accompanied by a written statement of the Company’s
independent registered public accounting firm (which shall be a firm of established national
reputation) that in making the examination necessary for certification of such financial
statements, nothing has come to their attention that would lead them to believe that the Company
has violated any financial covenants contained herein that would be covered by the procedures
performed in connection with their audit of such financial statements or, if any such violation has
occurred, specifying the nature and period of existence thereof, it being understood that such
accountants shall not be liable directly or indirectly to any Person for any failure to obtain
knowledge of any such violation.

          (c) The Parent shall, so long as any of the Notes are outstanding, deliver to the Trustee,
upon becoming aware of any Default or Event of Default, an Officers Certificate specifying such
Default or Event of Default, and in any event, no later than 5 Business Days.

          Section 4.05. Taxes.

          The Parent shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency,
any taxes, assessments, and governmental levies except such as are contested in good faith and by
appropriate proceedings or where the failure to effect such payment is not adverse in any material
respect to the Holders of the Notes.

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          Section 4.06. Stay, Extension and Usury Laws.

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

          Section 4.07. Restricted Payments.

          (a) The Parent shall not, and shall not permit any of its Restricted Subsidiaries to, directly
or indirectly:

     (i) declare or pay (without duplication) any dividend or make any other payment or
distribution on account of the Parent’s or any of its Restricted Subsidiaries’ Equity
Interests (including, without limitation, any payment in connection with any merger or
consolidation involving the Parent or any of its Restricted Subsidiaries) or to the direct
or indirect holders of the Parent’s or any of its Restricted Subsidiaries’ Equity Interests
in their capacity as such (other than dividends, payments or distributions (x) payable in
Equity Interests (other than Disqualified Stock) of the Parent or (y) to the Parent or a
Restricted Subsidiary of the Parent);

     (ii) purchase, redeem or otherwise acquire or retire for value (including, without
limitation, in connection with any merger or consolidation involving the Parent or any of
its Restricted Subsidiaries) any Equity Interests of the Parent or any Restricted Subsidiary
thereof held by Persons other than the Parent or any of its Restricted Subsidiaries;

     (iii) make any payment on or with respect to, or purchase, redeem, defease or otherwise
acquire or retire for value any Indebtedness that is subordinated to the Notes or any Note
Guarantee, except (x) a payment of interest or principal at the Stated Maturity thereof or
(y) the purchase, repurchase or other acquisition of any such Indebtedness in anticipation
of satisfying a sinking fund obligation, principal installment or final maturity, in each
case due within one year of the date of such purchase, repurchase or other acquisition; or

     (iv) make any Restricted Investment (all such payments and other actions set forth in
Sections 4.07(a)(i) through (iv) above being collectively referred to as “Restricted
Payments”),

unless, at the time of and after giving effect to such Restricted Payment:

     (A) no Default or Event of Default shall have occurred and be continuing or
would occur as a consequence thereof;

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     (B) the Parent would, at the time of such Restricted Payment and after giving
pro forma effect thereto as if such Restricted Payment had been made at the
beginning of the applicable Four Quarter Period, have been permitted to Incur at
least $1.00 of additional Indebtedness pursuant to Section 4.09(a); and

     (C) such Restricted Payment, together with the aggregate amount of all other
Restricted Payments made by the Parent and its Restricted Subsidiaries after August
18, 2009 (excluding Restricted Payments permitted by subclauses 4.07(b)(ii), (iii),
(iv), (v), (vi), (viii) and (ix) below), is less than the sum, without duplication,
of:

     (1) 100% of the Consolidated Cash Flow of the Parent for the period
(taken as one accounting period) from July 1, 2009 to the end of the
Parent’s most recently ended fiscal quarter for which internal financial
statements are available at the time of such Restricted Payment, minus 1.4
times the Fixed Charges of the Parent for the same period, plus

     (2) 100% of the aggregate net proceeds (including (x) cash and Cash
Equivalents and (y) the Fair Market Value of property other than cash and
Cash Equivalents, provided that if the Fair Market Value of such property
exceeds $50.0 million such Fair Market Value shall be determined in good
faith by the Board of Directors of the Parent, whose good faith
determination shall be conclusive and evidenced by a Board Resolution)
received by the Parent since August 18, 2009 as a contribution to its common
equity capital or from the issue or sale of Equity Interests (other than
Disqualified Stock) of the Parent or from the Incurrence of Indebtedness of
the Parent or the Company that has been converted into or exchanged for such
Equity Interests (other than Equity Interests sold to, or Indebtedness held
by, a Subsidiary of the Parent), plus

     (3) with respect to Restricted Investments made by the Parent and its
Restricted Subsidiaries after August 18, 2009, an amount equal to the net
reduction in such Restricted Investments in any Person resulting from
repayments of loans or advances, or other transfers of assets, in each case
to the Parent or any Restricted Subsidiary or from the net cash proceeds
from the sale of any such Restricted Investment (except, in each case, to
the extent any such payment or proceeds are included in the calculation of
Consolidated Cash Flow), from the release of any Guarantee (except to the
extent any amounts are paid under such Guarantee) or from redesignations of
Unrestricted Subsidiaries as Restricted Subsidiaries, not to exceed, in each
case, the amount of Restricted Investments previously made by the Parent or
any Restricted Subsidiary in such Person or Unrestricted Subsidiary after
August 18, 2009.

          (b) The preceding provisions shall not prohibit, so long as, in the case of subclauses (v),
(vii) and (ix) below of this Section 4.07(b), no Default has occurred and is continuing or would be
caused thereby:

43

 

     (i) the payment of any dividend within 60 days after the date of declaration thereof,
if at said date of declaration such payment would have complied with the provisions of this
Indenture;

     (ii) the payment of any dividend by a Restricted Subsidiary of the Parent to the
holders of its Common Stock on a pro rata basis;

     (iii) the redemption, repurchase, retirement, defeasance or other acquisition of any
subordinated Indebtedness of the Parent, the Company or any Subsidiary Guarantor or of any
Equity Interests of the Parent or any Restricted Subsidiary in exchange for, or out of the
net cash proceeds of a contribution to the common equity of the Parent or a substantially
concurrent sale (other than to a Restricted Subsidiary of the Parent) of, Equity Interests
(other than Disqualified Stock) of the Parent; provided that the amount of any such net cash
proceeds that are utilized for any such redemption, repurchase, retirement, defeasance or
other acquisition shall be excluded from subclause (C)(2) of Section 4.07(a);

     (iv) the defeasance, redemption, repurchase or other acquisition of Indebtedness
subordinated to the Notes or any Note Guarantee with the net cash proceeds from an
Incurrence of Permitted Refinancing Indebtedness;

     (v) the payment of any dividend or the making of any other payment or distribution on
account of the Parent’s Equity Interests or the purchase, redemption or other acquisition or
retirement for value of any Equity Interests of the Parent or any Restricted Subsidiary of
the Parent in an aggregate amount not to exceed $100.0 million;

     (vi) the repurchase of Equity Interests deemed to occur upon the exercise of options or
warrants to the extent that such Equity Interests represents all or a portion of the
exercise price thereof;

     (vii) the repurchase, redemption or other acquisition or retirement for value of any
Equity Interests of the Parent held by any current or former employee, consultant or
director of the Parent, or any Restricted Subsidiaries of the Parent pursuant to the terms
of any equity subscription agreement, stock option agreement or similar agreement entered
into in the ordinary course of business; provided that the aggregate of all amounts paid by
the Parent in any calendar year shall not exceed $20.0 million (with unused amounts in any
calendar year being carried over to the next succeeding calendar year; provided, further,
that such amount in any calendar year may be increased by an amount equal to (a) the net
cash proceeds from the sale of Equity Interests of the Parent to current or former members
of management, directors, consultants or employees that occurs after August 18, 2009)
(provided that the amount of any such net cash proceeds shall be excluded from subclause
(C)(2) of Section 4.07(a)) plus (b) the net cash proceeds of key man life insurance policies
received by the Parent or its Restricted Subsidiaries after August 18, 2009;

     (viii) the purchase, redemption, acquisition, cancellation or other retirement for
value of shares of Capital Stock of the Parent, to the extent necessary, in the good faith

44

 

judgment of the Parent’s Board of Directors, to prevent the loss or secure the renewal
or reinstatement of any license held by the Parent or any of its Restricted Subsidiaries
from any governmental agency; and

     (ix) other Restricted Payments in an aggregate amount not to exceed $250.0 million.

          The amount of all Restricted Payments (other than cash) shall be the Fair Market Value on the
date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued
to or by the Parent or such Subsidiary, as the case may be, pursuant to the Restricted Payment;
provided that if the Fair Market Value exceeds $50.0 million, such Fair Market Value shall be
determined in good faith by the Board of Directors of the Parent evidenced by a Board Resolution.
Not later than the date of making any Restricted Payment under Section 4.07(a) or Section
4.07(b)(ix) above, the Parent shall deliver to the Trustee an Officers’ Certificate stating that
such Restricted Payment is permitted and setting forth the basis upon which the calculations
required by this Section 4.07 were computed, together with a copy of any opinion or appraisal
required by this Indenture.

          Section 4.08. Dividend and Other Payment Restrictions Affecting Restricted
Subsidiaries.

          (a) The Parent shall not, and shall not permit any of its Restricted Subsidiaries to, directly
or indirectly, create or permit to exist or become effective any consensual encumbrance or
restriction on the ability of any Restricted Subsidiary to:

     (i) pay dividends or make any other distributions on its Capital Stock (or with respect
to any other interest or participation in, or measured by, its profits) to the Parent or any
of its Restricted Subsidiaries or pay any liabilities owed to the Parent or any of its
Restricted Subsidiaries;

     (ii) make loans or advances to the Parent or any of its Restricted Subsidiaries; or

     (iii) sell, lease or transfer any of its properties or assets to the Parent or any of
its Restricted Subsidiaries.

          (b) However, the preceding restrictions shall not apply to encumbrances or restrictions:

     (i) existing under, by reason of or with respect to Existing Indebtedness or any other
agreements in effect on the Issue Date and any amendments, modifications, restatements,
renewals, extensions, supplements, refundings, replacements or refinancings thereof,
provided that the encumbrances and restrictions in any such amendments, modifications,
restatements, renewals, extensions, supplements, refundings, replacements or refinancings,
in the good faith judgment of the Board of Directors of the Parent, whose judgment shall be
conclusively binding and evidenced by a Board Resolution, either (i) are not materially more
restrictive, taken as a whole, than those contained in Existing Indebtedness or such other
agreements, as the case may be, as in

45

 

effect on the Issue Date or (ii) will not materially affect the Company’s ability to
pay the interest or principal, when due, on the Notes;

     (ii) set forth in this Indenture and the Notes and the Note Guarantees;

     (iii) existing under, by reason of or with respect to applicable law, rule, regulation
or order;

     (iv) with respect to any Person or the property or assets of a Person acquired by the
Parent or any of its Restricted Subsidiaries existing at the time of such acquisition and
not incurred in connection with or in contemplation of such acquisition, which encumbrance
or restriction is not applicable to any Person or the properties or assets of any Person,
other than the Person, or the property or assets of the Person, so acquired and any
amendments, modifications, restatements, renewals, extensions, supplements, refundings,
replacements or refinancings thereof, provided that the encumbrances and restrictions in any
such amendments, modifications, restatements, renewals, extensions, supplements, refundings,
replacements or refinancings, in the good faith judgment of the Board of Directors of the
Parent, whose judgment shall be binding and evidenced by a Board Resolution, either (i) are
not materially more restrictive, taken as a whole, than those in effect on the date of the
acquisition or (ii) will not materially affect the Company’s ability to pay the interest or
principal, when due, on the Notes;

     (v) in the case of Section 4.08(a)(iii):

     (A) that restrict in a customary manner the subletting, assignment or transfer
of any property or asset that is a lease, license, conveyance or contract or similar
property or asset,

     (B) existing by virtue of any transfer of, agreement to transfer, option or
right with respect to, or Lien on, any property or assets of the Parent or any
Restricted Subsidiary thereof not otherwise prohibited by this Indenture, or

     (C) arising or agreed to in the ordinary course of business, not relating to
any Indebtedness, and that do not, individually or in the aggregate, detract from
the value of property or assets of the Parent or any Restricted Subsidiary thereof
in any manner material to the Parent or any Restricted Subsidiary thereof;

     (vi) existing under, by reason of or with respect to any agreement for the sale or
other disposition of all or substantially all of the Capital Stock of, or property and
assets of, a Restricted Subsidiary that restrict distributions by that Restricted Subsidiary
pending such sale or other disposition;

     (vii) existing under restrictions on cash or other deposits or net worth imposed by
customers or required by insurance, surety or bonding companies, in each case, under
contracts entered into in the ordinary course of business;

     (viii) existing under, by reason of or with respect to provisions with respect to the
disposition or distribution of assets or property, in each case contained in joint

46

 

venture agreements and which the Board of Directors of the Parent determines in good
faith shall not adversely affect the Company’s ability to make payments of principal or
interest payments on the Notes; and

     (ix) encumbrances and restrictions in other Indebtedness incurred in compliance with
Section 4.09; provided that such encumbrances and restrictions, taken as a whole, in the
good faith judgment of the Parent’s Board of Directors, whose judgment shall be binding and
evidenced by a Board Resolution, either (x) are no more materially restrictive with respect
to such encumbrances and restrictions than those contained in the existing agreements
referenced in clauses (i) and (ii) of this Section 4.08(b) or (y) are ordinary and customary
for Indebtedness of that type at such time and will not materially affect the Company’s
ability to pay the interest or principal, when due, on the Notes.

          Section 4.09. Incurrence of Indebtedness.

          (a) The Parent shall not, and shall not permit any of its Restricted Subsidiaries to, directly
or indirectly, Incur any Indebtedness; provided, however, that the Parent, the Company, any
Subsidiary Guarantor or any Foreign Restricted Subsidiary that is not a Subsidiary Guarantor may
Incur Indebtedness if, after giving effect to the Incurrence of such Indebtedness and the receipt
and application of the proceeds therefrom, the Consolidated Leverage Ratio would be less than 5.25
to 1, and if (A) such Indebtedness is to be Incurred by the Company or any Subsidiary Guarantor,
the Subsidiary Debt Leverage Ratio would be less than 3.5 to 1 or (B) such Indebtedness is to be
Incurred by a Foreign Restricted Subsidiary that is not a Subsidiary Guarantor, the Priority Debt
Leverage Ratio would be less than 2.5 to 1.

          (b) Section 4.09(a) shall not prohibit the Incurrence of any of the following items of
Indebtedness (collectively, “Permitted Debt”):

     (i) the Incurrence by the Parent, the Company, any Subsidiary Guarantor or any Foreign
Restricted Subsidiary of Indebtedness under Credit Facilities in an aggregate amount at any
one time outstanding pursuant to this clause (i), including all Permitted Refinancing
Indebtedness Incurred to refund, refinance or replace any Indebtedness Incurred pursuant to
this clause (i), not to exceed $500.0 million, less the aggregate amount of all Net Proceeds
of Asset Sales applied by the Parent, the Company, any Subsidiary Guarantor or any Foreign
Restricted Subsidiary to permanently repay any such Indebtedness pursuant to Section 4.10;

     (ii) the Incurrence of Existing Indebtedness;

     (iii) the Incurrence by the Parent, the Company and the Subsidiary Guarantors of
Indebtedness represented by the Notes and the related Note Guarantees to be issued on the
Issue Date;

     (iv) the Incurrence by the Parent, the Company or any Restricted Subsidiary of
Indebtedness represented by Capital Lease Obligations, mortgage financings, Attributable
Debt, purchase money obligations or other obligations, in each case, Incurred for the
purpose of financing all or any part of the purchase price or cost of construction or
improvement of property, plant or equipment (including acquisition of Capital Stock of a

47

 

Person that becomes a Restricted Subsidiary to the extent of the Fair Market Value of
the property, plant or equipment of such Person) used in the business of the Parent or such
Restricted Subsidiary, in an aggregate amount, including all Permitted Refinancing
Indebtedness Incurred to refund, refinance or replace any Indebtedness Incurred pursuant to
this clause (iv), not to exceed $350.0 million at any time outstanding;

     (v) the Incurrence by the Parent or any Restricted Subsidiary of the Parent of
Permitted Refinancing Indebtedness in exchange for, or the net proceeds of which are used to
refund, refinance, replace, defease or discharge Indebtedness (other than intercompany
Indebtedness) that was permitted by this Indenture to be Incurred under Sections 4.09(a) or
4.09(b) (i), (ii), (iii), (iv), (v), (xii), (xiii), (xv) or (xvi);

     (vi) the Incurrence by the Parent or any of its Restricted Subsidiaries of intercompany
Indebtedness owing to or held by the Parent or any of its Restricted Subsidiaries; provided,
however, that:

     (A) if the Parent, the Company or any Subsidiary Guarantor is the obligor on
such Indebtedness, such Indebtedness must be unsecured and expressly subordinated to
the prior payment in full in cash of all Obligations with respect to the Notes, in
the case of the Company, or the Note Guarantee, in the case of the Parent or a
Subsidiary Guarantor; and

     (B) (i) any subsequent issuance or transfer of Equity Interests that results in
any such Indebtedness being held by a Person other than the Parent or a Restricted
Subsidiary of the Parent and (ii) any sale or other transfer of any such
Indebtedness to a Person that is not the Parent or a Restricted Subsidiary of the
Parent, shall be deemed, in each case, to constitute an Incurrence of such
Indebtedness by the Parent or such Restricted Subsidiary, as the case may be, that
was not permitted by this clause (vi);

     (vii) the Guarantee by the Parent, the Company or any Subsidiary Guarantor of
Indebtedness of the Parent or a Restricted Subsidiary of the Parent that was permitted to be
Incurred by another provision of this Section 4.09 (other than (x) a Guarantee by the
Company or any Subsidiary Guarantor of Existing Indebtedness of the Parent and (y) a
Guarantee by the Company or any Subsidiary Guarantor of Indebtedness of the Parent Incurred
under Section 4.09(a) or in the case of clauses (x) and (y) any refinancings thereof);
provided that if the Indebtedness being Guaranteed is subordinated to or pari passu with the
Notes or any Note Guarantee, then the Guarantee shall be subordinated or pari passu, as
applicable, to the same extent as the Indebtedness guaranteed;

     (viii) the Incurrence by the Parent or any of its Restricted Subsidiaries of Hedging
Obligations that are Incurred for the purpose of fixing, hedging or swapping interest rate,
commodity price or foreign currency exchange rate risk (or to reverse or amend any such
agreements previously made for such purposes), and not for speculative purposes, and that do
not increase the Indebtedness of the obligor outstanding at any time other than as a result
of fluctuations in interest rates, commodity prices or foreign

48

 

currency exchange rates or by reason of fees, indemnities and compensation payable
thereunder;

     (ix) the Incurrence by the Parent or any of its Restricted Subsidiaries of Indebtedness
arising from agreements providing for indemnification, adjustment of purchase price or
similar obligations, or Guarantees or letters of credit, surety bonds or performance bonds
securing any obligations of the Parent or any of its Restricted Subsidiaries pursuant to
such agreements, in any case Incurred in connection with the disposition of any business,
assets or Restricted Subsidiary (other than Guarantees of Indebtedness Incurred by any
Person acquiring all or any portion of such business, assets or Restricted Subsidiary for
the purpose of financing such acquisition), so long as the amount (other than with respect
to indemnities relating to tax obligations) does not exceed the gross proceeds actually
received by the Parent or any Restricted Subsidiary thereof in connection with such
disposition;

     (x) the Incurrence by the Parent or any of its Restricted Subsidiaries of Indebtedness
arising from the honoring by a bank or other financial institution of a check, draft or
similar instrument drawn against insufficient funds in the ordinary course of business,
provided, however, that such Indebtedness is extinguished promptly after its Incurrence;

     (xi) the Incurrence by the Parent or any of its Restricted Subsidiaries of Indebtedness
constituting reimbursement obligations with respect to letters of credit issued in the
ordinary course of business; provided that, upon the drawing of such letters of credit or
the Incurrence of such Indebtedness, such obligations are reimbursed within 30 days
following such drawing or Incurrence;

     (xii) the Incurrence by the Parent, the Company or any Subsidiary Guarantor of
Permitted Subordinated Indebtedness in an aggregate principal amount at any time
outstanding, including all Permitted Refinancing Indebtedness Incurred to refund, refinance
or replace any Indebtedness Incurred pursuant to this clause (xii), not to exceed $500.0
million;

     (xiii) the Incurrence by the Parent or any Restricted Subsidiary of Acquired
Indebtedness, provided that immediately after giving effect to such Incurrence on a pro
forma basis, the Consolidated Leverage Ratio and, if the Acquired Indebtedness is to be
Incurred by the Company or any Subsidiary Guarantor, the Subsidiary Debt Leverage Ratio and,
if the Acquired Indebtedness is to be Incurred by a Foreign Restricted Subsidiary that is
not a Subsidiary Guarantor, the Priority Debt Leverage Ratio will not be greater than the
such ratios immediately prior to such Incurrence;

     (xiv) the Incurrence by the Parent, the Company or any Subsidiary Guarantor of
Indebtedness to the extent that the net proceeds thereof are promptly deposited to defease
or to satisfy and discharge the Notes;

     (xv) the Incurrence by the Parent or any Restricted Subsidiary of Indebtedness in favor
of a governmental entity in connection with the purchase of licenses or other

49

 

rights to utilize radio spectrum in an aggregate principal amount at any time
outstanding, including all Permitted Refinancing Indebtedness Incurred to refund, refinance
or replace any Indebtedness Incurred pursuant to this clause (xv), not to exceed $300.0
million; or

     (xvi) the Incurrence by the Parent, Company or any Subsidiary Guarantor or any of its
Restricted Subsidiaries of additional Indebtedness in an aggregate principal amount at any
time outstanding, including all Permitted Refinancing Indebtedness Incurred to refund,
refinance or replace any Indebtedness Incurred pursuant to this clause (xvi), not to exceed
$250.0 million.

          (c) For purposes of determining compliance with this Section 4.09, in the event that any
proposed Indebtedness meets the criteria of more than one of the categories of Permitted Debt
described in clauses (i) through (xvi) of Section 4.09(b), or is entitled to be Incurred pursuant
to 4.09(a), the Parent shall be permitted to divide and classify such item of Indebtedness at the
time of its Incurrence in any manner that complies with this Section 4.09 and may later redivide
and/or reclassify all or a portion of such item of Indebtedness in any manner that complies with
this Section 4.09; provided that notwithstanding the foregoing, Indebtedness outstanding under
Credit Facilities on the Issue Date shall be deemed to have been incurred on such date under
Section 4.09(b)(i).

          (d) For purposes of determining compliance with any U.S. dollar-denominated restriction on the
incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated
in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on
the date such Indebtedness was incurred, in the case of term debt, or first committed, in the case
of revolving credit debt; provided that if such Indebtedness is incurred to refinance other
Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable
U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange
rate in effect on the date of such refinancing, such U.S. dollar-denominated restrictions shall be
deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness
does not exceed the principal amount of such Indebtedness being refinanced.

          (e) The principal amount of any Indebtedness incurred to refinance other Indebtedness, if
incurred in a different currency from the Indebtedness being refinanced, shall be calculated based
on the currency exchange rate applicable to the currencies in which such respective Indebtedness is
denominated that is in effect on the date of such refinancing.

          (f) The Company shall not Incur any Indebtedness that is subordinate in right of payment to
any other Indebtedness of the Company unless it is subordinate in right of payment to the Notes to
the same extent. The Parent shall not, and shall not permit any Subsidiary Guarantor to, Incur any
Indebtedness that is subordinate in right of payment to any other Indebtedness of the Parent or
such Subsidiary Guarantor, as the case may be, unless it is subordinate in right of payment to the
relevant Note Guarantee to the same extent. For purposes of the foregoing, no Indebtedness shall
be deemed to be subordinated in right of payment to any other Indebtedness of the Parent, the
Company or any Subsidiary Guarantor, as applicable, solely by reason of any Liens or Guarantees
arising or created in respect thereof or by virtue of the fact

50

 

that the holders of any Secured Indebtedness have entered into intercreditor agreements giving
one or more of such holders priority over the other holders in the collateral held by them.

          Section 4.10. Asset Sales.

          (a) The Parent shall not, and shall not permit any of its Restricted Subsidiaries to,
consummate an Asset Sale unless:

     (i) the Parent or such Restricted Subsidiary receives consideration at the time of such
Asset Sale at least equal to the Fair Market Value of the assets or Equity Interests issued
or sold or otherwise disposed of; and

     (ii) at least 75% of the consideration therefor received by the Parent or such
Restricted Subsidiary is in the form of cash, Cash Equivalents or Replacement Assets or a
combination thereof. For purposes of this provision, each of the following shall be deemed
to be cash:

     (A) any liabilities, as shown on the Parent’s or such Restricted Subsidiary’s
most recent balance sheet, of the Parent or any Restricted Subsidiary (other than
contingent liabilities, Indebtedness that is by its terms subordinated to the Notes
or any Note Guarantee and liabilities to the extent owed to the Parent or any
Affiliate of the Parent) that are assumed by the transferee of any such assets or
Equity Interests pursuant to a written novation agreement that releases the Parent
or such Restricted Subsidiary from further liability therefor, and

     (B) any securities, notes or other obligations received by the Parent or any
such Restricted Subsidiary from such transferee that are (within 60 days of receipt
and subject to ordinary settlement periods) converted by the Parent or such
Restricted Subsidiary into cash (to the extent of the cash received in that
conversion).

          (b) Within 365 days after the receipt of any Net Proceeds from an Asset Sale, the Parent or
its Restricted Subsidiaries may apply such Net Proceeds at its option:

     (i) to repay, prepay, defease, redeem, purchase or otherwise retire, in whole or in
part, (i) Indebtedness secured by such assets, (ii) unsubordinated Indebtedness of the
Company or any Subsidiary Guarantor or (iii) any Indebtedness of any Restricted Subsidiary
of the Parent that is not a Subsidiary Guarantor or the Company, other than Indebtedness
owed to the Parent or another Restricted Subsidiary and, in each case, if the Indebtedness
repaid is revolving credit Indebtedness to correspondingly reduce commitments with respect
thereto; or

     (ii) to purchase Replacement Assets (or enter into a binding agreement to purchase such
Replacement Assets; provided that (i) such purchase is consummated within the later of (x)
180 days after the date such binding agreement is entered into and (y) 365 days after the
receipt of Net Proceeds from such Asset Sale and (ii) if such purchase is not consummated
within the period set forth in subclause (i), the Net Proceeds not so applied shall be
deemed to be Excess Proceeds).

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Pending the final application of any such Net Proceeds, the Parent or any of its Restricted
Subsidiaries may temporarily reduce revolving credit borrowings or otherwise invest such Net
Proceeds in any manner that is not prohibited by this Indenture.

          (c) On the 365th day after an Asset Sale (or, in the event that a binding agreement
has been entered into as set forth in Section 4.10(b)(ii), the later date set forth in such Section
4.10(b)(ii) or such earlier date, if any, as the Parent determines not to apply the Net Proceeds
relating to such Asset Sale as set forth in Section 4.10(b) (each such date being referred as an
“Excess Proceeds Trigger Date”), such aggregate amount of Net Proceeds that has not been applied on
or before the Excess Proceeds Trigger Date as permitted in Section 4.10(b) (“Excess Proceeds”)
shall be applied by the Company to make an offer (an “Asset Sale Offer”) to all Holders of Notes
and all holders of other Indebtedness that is pari passu with the Notes or any Note Guarantee
containing provisions similar to those set forth in this Indenture with respect to offers to
purchase with the proceeds of sales of assets, to purchase the maximum principal amount of Notes
and such other pari passu Indebtedness that may be purchased out of the Excess Proceeds. The offer
price in any Asset Sale Offer shall be equal to 100% of the principal amount of the Notes and such
other pari passu Indebtedness plus accrued and unpaid interest, to the date of purchase, and shall
be payable in cash.

          (d) The Company may defer the Asset Sale Offer until the aggregate unutilized Excess Proceeds
accrued equals or exceeds $100.0 million, at which time the entire unutilized amount of Excess
Proceeds (not only the amount in excess of $100.0 million) shall be applied as provided in Section
4.10(c). If any Excess Proceeds remain after consummation of an Asset Sale Offer, the Parent and
its Restricted Subsidiaries may use such Excess Proceeds for any purpose not otherwise prohibited
by this Indenture. If the aggregate principal amount of Notes and such other pari passu
Indebtedness tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Notes
and such other pari passu Indebtedness shall be purchased on a pro rata basis based on the
principal amount of Notes and such other pari passu Indebtedness tendered. Upon completion of each
Asset Sale Offer, the Excess Proceeds subject to such Asset Sale shall no longer be deemed to be
Excess Proceeds.

          (e) The Company shall comply with the requirements of Rule 14e-1 under the Exchange Act, and
any other securities laws and regulations thereunder to the extent such laws or regulations are
applicable in connection with each repurchase of Notes pursuant to an Asset Sale Offer. To the
extent that the provisions of any securities laws or regulations conflict with the provisions of
Section 3.08 hereof or this Section 4.10, the Company shall comply with the applicable securities
laws and regulations and shall not be deemed to have breached its obligations under Section 3.08
hereof or this Section 4.10 by virtue of such compliance.

          (f) The Company shall not be required to make an Asset Sale Offer as provided in this Section
4.10 if the Parent or any of its Restricted Subsidiaries makes the Asset Sale Offer in the manner,
at the times and otherwise in compliance with the requirements set forth in this Indenture
applicable to an Asset Sale Offer made by the Company and purchases all Notes properly tendered and
not withdrawn under such Asset Sale Offer.

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          Section 4.11. Transactions with Affiliates.

          (a) The Parent shall not, and shall not permit any of its Restricted Subsidiaries to, make any
payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or
purchase any property or assets from, or enter into, make, amend, renew or extend any transaction,
contract, agreement, understanding, loan, advance or Guarantee with, or for the benefit of, any
Affiliate (each, an “Affiliate Transaction”), unless:

     (i) such Affiliate Transaction is on terms that are no less favorable to the Parent or
the relevant Restricted Subsidiary than those that would have been obtained in a comparable
arm’s-length transaction by the Parent or such Restricted Subsidiary with a Person that is
not an Affiliate of the Parent or any of its Restricted Subsidiaries; and

     (ii) the Parent delivers to the Trustee:

     (A) with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate consideration in excess of $25.0 million, a Board
Resolution set forth in an Officers’ Certificate certifying that such Affiliate
Transaction or series of related Affiliate Transactions complies with this Section
4.11 and that such Affiliate Transaction or series of related Affiliate Transactions
has been approved by a majority of the disinterested members of the Board of
Directors of the Parent; and

     (B) with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate consideration in excess of $50.0 million, an
opinion as to the fairness to the Parent or such Restricted Subsidiary of such
Affiliate Transaction or series of related Affiliate Transactions from a financial
point of view issued by an independent accounting, appraisal or investment banking
firm of national standing.

          (b) The following items shall not be deemed to be Affiliate Transactions and, therefore, shall
not be subject to the provisions of Section 4.11(a):

     (i) transactions between or among the Parent and/or its Restricted Subsidiaries;

     (ii) payment of reasonable and customary compensation to, and reasonable and customary
indemnification and similar payments on behalf of, directors of the Parent;

     (iii) Permitted Investments and Restricted Payments that are permitted by the
provisions of Section 4.07 of this Indenture;

     (iv) any sale of Equity Interests (other than Disqualified Stock) of the Parent or
receipt of any capital contribution to the Parent from any Affiliate of the Parent;

     (v) transactions pursuant to agreements or arrangements in effect on the Issue Date, or
any amendment, modification, or supplement thereto or replacement thereof, as long as such
agreement or arrangement, as so amended, modified, supplemented or

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replaced, taken as a whole, is not materially more disadvantageous to the Parent and
its Restricted Subsidiaries than the original agreement or arrangement in existence on the
Issue Date;

     (vi) any employment, consulting, service or termination agreement or arrangement, or
indemnification arrangements, entered into by the Parent or any of its Restricted
Subsidiaries with current or former directors, officers and employees of the Parent or any
of its Restricted Subsidiaries and the payment of compensation to current or former
directors, officers and employees of the Parent or any of its Restricted Subsidiaries
(including amounts paid pursuant to employee benefit plans, employee stock option or similar
plans), so long as such agreement, arrangement, plan or payment has been approved by a
majority of the disinterested members of the Board of Directors of the Parent;

     (vii) issuances, purchases or repurchases of Notes or other Indebtedness of the Parent
or its Restricted Subsidiaries or solicitations of amendments, waivers or consents in
respect of Notes or such other Indebtedness, so long as such issuance, purchase, repurchase
or solicitation is (i) offered generally to other Holders of the Notes or other Indebtedness
on the same or more favorable terms and (ii) approved by a majority of the disinterested
members of the Board of Directors of the Parent;

     (viii) transactions with any Person that is an Affiliate of the Parent solely by reason
of the Parent’s ownership interest in such Person in the ordinary course of business and
otherwise in compliance with the terms of this Indenture which are fair to the Parent and
its Restricted Subsidiaries, in the reasonable determination of the Parent, or are on terms
at least as favorable as might reasonably have been obtained at such time from an
unaffiliated party; and

     (ix) reasonable and customary payments made for any financial advisory, financing,
underwriting, placement or syndication services approved by the Board of Directors of the
Parent in good faith.

          Section 4.12. Liens.

          The Parent shall not, and shall not permit the Company or any Subsidiary Guarantor to create,
Incur, assume or otherwise cause or suffer to exist or become effective any Lien of any kind (other
than Permitted Liens) upon any of its property or assets, now owned or hereafter acquired, unless
all payments due under this Indenture and the Notes or the Note Guarantee, as applicable, are
secured on an equal and ratable basis with the obligations so secured (or, in the case of
Indebtedness subordinated to the Notes, prior or senior thereto, with the same relative priority as
the Notes or Note Guarantees shall have with respect to such subordinated Indebtedness) until such
time as such obligations are no longer secured by a Lien.

          Section 4.13. Business Activities.

          The Parent shall not, and shall not permit any Restricted Subsidiary thereof to, engage in any
business other than Permitted Businesses, except to such extent as would not be material to the
Parent and its Restricted Subsidiaries taken as a whole. The Parent shall be a

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holding company substantially all of the assets of which shall consist of the Capital Stock of
its Subsidiaries, loans to the Company or any Subsidiary Guarantor and cash and Cash Equivalents.

          Section 4.14. Offer to Repurchase upon a Change of Control.

          (a) If a Change of Control occurs, each Holder of Notes shall have the right to require the
Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess
thereof) of that Holder’s Notes pursuant to an offer by the Company (a “Change of Control Offer”).
In the Change of Control Offer, the Company shall offer payment (a “Change of Control Payment”) in
cash equal to not less than 101% of the aggregate principal amount of Notes repurchased plus
accrued and unpaid interest, thereon, to the date of repurchase (the “Change of Control Payment
Date”, which date shall be no earlier than the date of such Change of Control); provided, however,
that notwithstanding the occurrence of a Change of Control, the Company shall not be obligated to
purchase the Notes pursuant to this Section 4.14 in the event that the Company has exercised its
right to redeem all the Notes pursuant to Section 3.07. No later than 30 days following any Change
of Control, the Company shall mail a notice to each Holder describing the transaction or
transactions that constitute the Change of Control and offering to repurchase Notes on the Change
of Control Payment Date specified in such notice, which date shall be no earlier than 30 days and
no later than 60 days from the date such notice is mailed, pursuant to the procedures described in
Section 3.08.

          (b) On the Change of Control Payment Date, the Company shall, to the extent lawful:

     (i) accept for payment all Notes or portions thereof properly tendered pursuant to the
Change of Control Offer;

     (ii) deposit with the Paying Agent, prior to 11:00 a.m., New York City time, an amount
equal to the Change of Control Payment in respect of all Notes or portions thereof properly
tendered; and

     (iii) deliver or cause to be delivered to the Trustee the Notes so accepted together
with an Officers’ Certificate stating the aggregate principal amount of Notes or portions
thereof being purchased by the Company.

          (c) The Paying Agent shall promptly mail or wire transfer to each Holder of Notes so tendered
the Change of Control Payment for such Notes, and the Trustee shall promptly authenticate and mail
(or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to
any unpurchased portion of the Notes surrendered, if any; provided that each such new Note shall be
in a principal amount of $2,000 or an integral multiple of $1,000 in excess thereof.

          (d) The Company shall publicly announce the results of the Change of Control Offer on or as
soon as practicable after the Change of Control Payment Date.

          (e) Notwithstanding anything to the contrary in this Section 4.14, the Company shall not be
required to make a Change of Control Offer upon a Change of Control if a third party makes the
Change of Control Offer in the manner, at the times and otherwise in

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compliance with the requirements set forth in this Section 4.14 and all other provisions of
this Indenture applicable to a Change of Control Offer made by the Company and purchases all Notes
properly tendered and not withdrawn under such Change of Control Offer.

          (f) A Change of Control Offer may be made in advance of a Change of Control, and conditioned
upon such Change of Control, if a definitive agreement is in place for the Change of Control at the
time of making of the Change of Control Offer.

          Section 4.15. Changes in Covenants When Notes Rated Investment Grade.

          (a) If on any date following the Issue Date:

     (i) the Notes are rated Baa3 or better by Moody’s and BBB- or better by Standard &
Poor’s (or, if either such entity ceases to rate the Notes for reasons outside of the
control of the Parent or the Company, the equivalent investment grade credit rating from any
other “nationally recognized statistical rating organization” within the meaning of Section
3(a)(62) under the Exchange Act, selected by the Company as a replacement agency); and

     (ii) no Default or Event of Default shall have occurred and be continuing
(collectively, a “Covenant Suspension Event”),

     then, beginning on that day and subject to the provisions of Section 4.15(b), the following
sections shall be suspended:

          (i) Section 4.10;

          (ii) Section 4.07;

          (iii) Section 4.09;

          (iv) Section 4.08;

          (v) Section 4.11;

          (vi) Section 5.01(a)(iii);

          (vii) Section 4.16;

          (viii) Section 4.18; and

          (ix) Section 4.13.

          (b) During any period that the covenants provided in Section 4.15(a) have been suspended (a
“Suspension Period”), the Parent’s Board of Directors may not designate any of its Subsidiaries as
Unrestricted Subsidiaries pursuant to Section 4.16 unless such designation would have been
permitted if a Suspension Period had not been in effect at such time.

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          (c) If the rating assigned by either such rating agency should subsequently decline to below
Baa3 or BBB-, respectively (or if either such agency ceases to rate the Notes, the equivalent
investment grade credit rating from another nationally recognized statistical rating organization),
the sections provided in Section 4.15(a) shall be reinstated as of and from the date of such rating
decline. Calculations under the reinstated Section 4.07 shall be made as if Section 4.07 had been
in effect since the date of this Indenture except that no default shall be deemed to have occurred
solely by reason of a Restricted Payment made while Section 4.07 was suspended. Notwithstanding
the reinstatement of the suspended Sections, no default shall be deemed to have occurred as a
result of a failure to comply with such suspended Sections during any Suspension Period.

          (d) The Company shall give prompt written notice of any Covenant Suspension Event and the
termination of any Covenant Suspension Event to the Trustee.

          Section 4.16. Designation of Restricted and Unrestricted Subsidiaries.

          (a) The Board of Directors of the Parent may designate any Restricted Subsidiary of the
Parent, other than the Company, to be an Unrestricted Subsidiary, provided that:

     (i) any Guarantee by the Parent or any Restricted Subsidiary thereof of any
Indebtedness of the Subsidiary being so designated shall be deemed to be an Incurrence of
Indebtedness by the Parent or such Restricted Subsidiary (or both, if applicable) at the
time of such designation, and such Incurrence of Indebtedness would be permitted under
Section 4.09;

     (ii) the aggregate Fair Market Value of all outstanding Investments owned by the Parent
and its Restricted Subsidiaries in the Subsidiary being so designated (including any
Guarantee by the Parent or any Restricted Subsidiary thereof of any Indebtedness of such
Subsidiary) and any commitments to make any such Investments shall be deemed to be an
Investment made as of the time of such designation and that such Investment would be
permitted under Section 4.07;

     (iii) such Subsidiary does not hold any Liens on any property of the Parent or any
Restricted Subsidiary thereof;

     (iv) the Subsidiary being so designated:

     (A) is not party to any agreement, contract, arrangement or understanding with
the Parent or any Restricted Subsidiary of the Parent unless the terms of any such
agreement, contract, arrangement or understanding are no less favorable to the
Parent or such Restricted Subsidiary than those that could have been obtained at the
time the agreement, contract, arrangement or understanding was entered into from
Persons who are not Affiliates of the Parent (other than any such agreement,
contract, arrangement or understanding permitted under Section 4.11); and

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     (B) has not Guaranteed or otherwise directly or indirectly provided credit
support for any Indebtedness of the Parent or any of its Restricted Subsidiaries,
except to the extent such Guarantee or credit support would be released upon such
designation; and

     (v) no Default or Event of Default would be in existence following such designation.

          (b) Any designation of a Subsidiary of the Parent as an Unrestricted Subsidiary shall be
evidenced to the Trustee by filing with the Trustee the Board Resolution giving effect to such
designation and an Officers’ Certificate certifying that such designation complied with Section
4.16(a) and is permitted by this Indenture. If, at any time, any Unrestricted Subsidiary would
fail to meet any of the requirements described in Sections 4.16(a)(iv), it shall thereafter cease
to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness, Investments,
or Liens on the property of such Subsidiary shall be deemed to be Incurred or made by a Restricted
Subsidiary of the Parent as of such date and, if such Indebtedness, Investments or Liens are not
permitted to be Incurred or made as of such date under this Indenture, the Parent shall be in
Default under this Indenture.

          (c) The Board of Directors of the Parent may at any time designate any Person that is about to
become a Subsidiary of the Parent as an Unrestricted Subsidiary, and may designate any newly
created Subsidiary as an Unrestricted Subsidiary, if at the time that Subsidiary is created it
contains no assets, other than the de minimis amount of assets then required by law for the
formation of corporations, and Subsidiaries of the Parent that are not designated by the Board of
Directors as Restricted or Unrestricted will be deemed to be Restricted Subsidiaries.

          (d) The Board of Directors of the Parent may at any time designate any Unrestricted Subsidiary
to be a Restricted Subsidiary; provided that:

     (i) such designation shall be deemed to be an Incurrence of Indebtedness by a
Restricted Subsidiary of the Parent of any outstanding Indebtedness of such Unrestricted
Subsidiary and such designation shall only be permitted if such Indebtedness is permitted
under Section 4.09;

     (ii) all outstanding Investments owned by such Unrestricted Subsidiary shall be deemed
to be made as of the time of such designation and such designation shall only be permitted
if such Investments would be permitted under Section 4.07;

     (iii) all Liens upon property or assets of such Unrestricted Subsidiary existing at the
time of such designation would be permitted under Section 4.12; and

     (iv) no Default or Event of Default would be in existence following such designation.

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          Section 4.17. Payments for Consent.

          The Parent shall not, and shall not permit any of its Restricted Subsidiaries to, directly or
indirectly, pay or cause to be paid any consideration to or for the benefit of any Holder of Notes
for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of
this Indenture or the Notes unless such consideration is offered to be paid and is paid to all
Holders of the Notes that consent, waive or agree to amend in the time frame set forth in the
solicitation documents relating to such consent, waiver or agreement.

          Section 4.18. Note Guarantees.

          (a) The Parent shall cause each of its First Tier Restricted Subsidiaries and each of its
Domestic Restricted Subsidiaries to Guarantee the payment of the Notes.

          (b) The Parent shall not permit any of its Restricted Subsidiaries, directly or indirectly, to
Guarantee or pledge any assets to secure the payment of any other Indebtedness of the Parent, the
Company, or any Subsidiary Guarantor unless such Restricted Subsidiary is the Company or a
Subsidiary Guarantor or simultaneously executes and delivers to the Trustee an Opinion of Counsel
and a supplemental indenture in the form attached hereto as Exhibit C providing for the Guarantee
of the payment of the Notes by such Restricted Subsidiary, which Note Guarantee shall be pari passu
with or, if such other Indebtedness is subordinated to the Notes or any Note Guarantees, senior to
such Subsidiary’s Guarantee of such other Indebtedness.

          (c) Notwithstanding the preceding paragraph, any Note Guarantee may provide by its terms that
it shall be automatically and unconditionally released and discharged under the circumstances
described under Section 10.05 hereof.

ARTICLE FIVE

SUCCESSORS

          Section 5.01. Merger, Consolidation or Sale of Assets.

          (a) The Parent shall not, directly or indirectly: (i) consolidate or merge with or into
another Person (whether or not the Parent is the surviving corporation) or (ii) sell, assign,
transfer, convey or otherwise dispose of all or substantially all of the properties and assets of
the Parent and its Restricted Subsidiaries, taken as a whole, in one or more related transactions,
to another Person, unless:

     (i) either: (a) the Parent is the surviving corporation; or (b) the Person formed by
or surviving any such consolidation or merger (if other than the Parent) or to which such
sale, assignment, transfer, conveyance or other disposition shall have been made (i) is a
corporation, partnership or limited liability company organized or existing under the laws
of the United States, any state thereof or the District of Columbia and (ii) assumes all the
obligations of the Parent under its Guarantee and this Indenture, pursuant to agreements
reasonably satisfactory to the Trustee;

     (ii) immediately after giving effect to such transaction, no Default or Event of
Default exists;

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     (iii) immediately after giving effect to such transaction on a pro forma basis, (a) the
Parent (or the Person formed by or surviving any such consolidation or merger with the
Parent, if other than the Parent, or the Person to which such sale, assignment, transfer,
conveyance or other disposition shall have been made) shall be permitted to Incur at least
$1.00 of additional Indebtedness pursuant to Section 4.09(a) or (b) the Consolidated
Leverage Ratio for the Parent (or such Person, as the case may be) shall not be greater than
the Consolidated Leverage Ratio for the Parent immediately prior to such transaction;

     (iv) each Guarantor, unless such Guarantor is the Person with which the Parent has
entered into a transaction under this Section 5.01, shall have by amendment to its Note
Guarantee confirmed that its Note Guarantee shall apply to the obligations of the Company in
accordance with the Notes and this Indenture; and

     (v) such Company or Parent has delivered to the Trustee an Officer’s Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or disposition and such
supplemental indenture, if any, comply with this Indenture.

          (b) The Parent and its Restricted Subsidiaries shall not, directly or indirectly, lease all or
substantially all of its and its Restricted Subsidiaries’ properties or assets taken as a whole, in
one or more related transactions, to any other Person.

          (c) Section 5.01(a)(iii) shall not apply to (x) any merger, consolidation or sale, assignment,
transfer, conveyance or other disposition of assets between or among the Parent and any of its
Restricted Subsidiaries or (y) a merger of the Parent with an Affiliate solely for the purpose of
reincorporating the Parent in another jurisdiction.

          (d) The Company shall not, directly or indirectly: (i) consolidate or merge with or into
another Person (whether or not the Company is the surviving corporation) or (ii) sell, assign,
transfer, convey or otherwise dispose of all or substantially all of the properties and assets of
the Company and its Restricted Subsidiaries, taken as a whole, in one or more related transactions,
to another Person, unless:

     (i) immediately after giving effect to that transaction, no Default or Event of Default
exists; and

     (ii) in the case of a consolidation or merger:

     (A) either: (i) the Company is the surviving corporation; or (ii) the Person
formed by or surviving any such consolidation or merger (if other than the Company)
(x) is a corporation, partnership or limited liability company organized or existing
under the laws of the United States, any state thereof or the District of Columbia
and (y) assumes all the obligations of the Company under the Notes and this
Indenture, pursuant to agreements reasonably satisfactory to the Trustee; provided
that in the case where such Person is not a corporation, a co-obligor of the Notes
is a corporation; and

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     (B) each Guarantor, unless such Guarantor is the Person with which the Company
has consolidated with or merged into, will have by amendment to its Note Guarantee
confirmed that its Note Guarantee will apply to the obligations of the Company in
accordance with the Notes and this Indenture; or

     (iii) in the case of a sale, assignment, transfer, conveyance or other disposition of
all or substantially all of the properties and assets of the Company and its Restricted
Subsidiaries, taken as a whole, either:

     (A) (i) the Person acquiring the property in any such sale, assignment,
transfer, conveyance or other disposition (x) is a corporation, partnership or
limited liability company organized or existing under the laws of the United States,
any state thereof or the District of Columbia and (y) assumes all the obligations of
the Company under the Notes and this Indenture, pursuant to agreements reasonably
satisfactory to the Trustee; provided that in the case where such Person is not a
corporation, a co-obligor of the Notes is a corporation; and

          (ii) each Guarantor, unless such Guarantor is the Person with which the Company
has consolidated with or merged into, will have by amendment to its Note Guarantee
confirmed that its Note Guarantee will apply to the obligations of the Company in
accordance with the Notes and this Indenture; or

     (B) to the extent such properties and assets constitute all or substantially
all of the properties and assets of the Parent and its Restricted Subsidiaries taken
as a whole, such sale or other disposition complies with Section 4.10.

          (e) Upon any consolidation or merger of the Company in accordance with this Section 5.01, or
any sale, assignment, transfer, conveyance or other disposition of all or substantially all of the
assets of the Company in accordance with Section 5.01(d)(iii)(A), the successor corporation formed
by such consolidation or into or with which the Company is merged or to which such sale,
assignment, transfer, conveyance or other disposition is made will succeed to, and be substituted
for (so that from and after the date of such consolidation, merger, sale, assignment, conveyance or
other disposition, the provisions of this Indenture referring to the “Company” will refer instead
to the successor corporation and not to the Company) and may exercise all rights and powers of, the
Company under this Indenture with the same effect as if such successor Person had been named as the
Company in this Indenture.

          (f) In the event of any consolidation or merger between the Company and the Parent in
accordance with this Section 5.01, the successor corporation of such transaction (whether the
Company or the Parent) shall be deemed to be the Company for purposes of Section 4.09(a) following
such event.

          Section 5.02. Successor Corporation Substituted.

          Upon any consolidation or merger, or any sale, assignment, transfer, conveyance or other
disposition of all or substantially all of the assets of the Parent, in accordance with

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Section 5.01 hereof, the successor corporation formed by such consolidation or into or with
which the Parent is merged or to which such sale, assignment, transfer, conveyance or other
disposition is made shall succeed to, and be substituted for (so that from and after the date of
such consolidation, merger, sale, assignment, conveyance or other disposition, the provisions of
this Indenture referring to the “Parent” shall refer instead to the successor corporation and not
to the Parent) and may exercise all rights and powers of, the Parent under this Indenture with the
same effect as if such successor Person had been named as the Parent herein.

ARTICLE SIX

DEFAULTS AND REMEDIES

          Section 6.01. Events of Default.

          (a) Each of the following is an “Event of Default”:

     (i) default for 30 days in the payment when due of interest on the Notes;

     (ii) default in payment when due (whether at maturity, upon acceleration, redemption,
required repurchase or otherwise) of the principal of or premium, if any, on the Notes;

     (iii) failure by the Parent, the Company or any Restricted Subsidiaries of the Parent
for 30 days after written notice to the Parent by the Trustee or the Holders of at least 25%
in aggregate principal amount of Notes then outstanding to comply with Sections 4.10 or 4.14
(in each case other than a failure to purchase Notes which shall constitute an Event of
Default under Section 6.01(a)(ii)) or the failure by the Parent or the Company to comply
with Section 5.01;

     (iv) failure by the Parent, the Company or any Restricted Subsidiary of the Parent for
60 days after written notice to the Parent by the Trustee or the Holders of at least 25% in
aggregate principal amount of Notes then outstanding to comply with any of the other
agreements in this Indenture;

     (v) default under any mortgage, indenture or instrument under which there may be issued
or by which there may be secured or evidenced any Indebtedness by the Parent, the Company or
any Restricted Subsidiary that is a Significant Subsidiary of the Parent (or the payment of
which is Guaranteed by the Parent, the Company or any Restricted Subsidiary that is a
Significant Subsidiary of the Parent) whether such Indebtedness or Guarantee now exists, or
is created after the Issue Date, if that default:

     (A) is caused by a failure to make any payment when due at the final maturity
of such Indebtedness (a “Payment Default”); or

     (B) results in the acceleration of such Indebtedness prior to its express
maturity,

and, in each case, such default shall not have been rescinded or such Indebtedness shall not
have been discharged within 10 days and the amount of any such Indebtedness,

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together with the amount of any other such Indebtedness under which there has been a Payment
Default or the maturity of which has been so accelerated, aggregates $50.0 million or more;

     (vi) failure by the Parent, the Company or any Restricted Subsidiary that is a
Significant Subsidiary of the Parent to pay final judgments (to the extent such judgments
are not paid or covered by insurance provided by a reputable carrier) aggregating in excess
of $50.0 million, which judgments are not paid, discharged or stayed for a period of
60 days;

     (vii) except as permitted by this Indenture, any Note Guarantee is held in any judicial
proceeding to be unenforceable or invalid or ceases for any reason to be in full force and
effect or any Guarantor, or any Person acting on behalf of any Guarantor, denies or
disaffirms its obligations under its Note Guarantee;

     (viii) the Parent, the Company, or any Significant Subsidiary of the Parent, pursuant
to or within the meaning of Bankruptcy Law:

     (A) commences a voluntary case,

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

     (C) makes a general assignment for the benefit of its creditors, or

     (D) generally is not paying its debts as they become due; and

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

     (A) is for relief against the Parent, the Company, or any Significant
Subsidiary of the Parent, in an involuntary case,

     (B) appoints a custodian of the Parent, the Company, or any Significant
Subsidiary of the Parent or for all or substantially all of the property of the
Parent, the Company, or any Significant Subsidiary of the Parent, or

     (C) orders the liquidation of the Parent, the Company, or any Significant
Subsidiary of the Parent;

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

          Section 6.02. Acceleration.

          (a) In the case of an Event of Default specified in Section 6.01(a)(viii) or
Section 6.01(a)(ix) hereof, all outstanding Notes shall become due and payable immediately without
further action or notice. If any other Event of Default occurs and is continuing, the Trustee or
the Holders of at least 25% in aggregate principal amount of the then outstanding

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Notes may declare all the Notes to be due and payable immediately by notice in writing to the
Parent specifying the Event of Default.

          Section 6.03. Other Remedies.

          (a) If an Event of Default occurs and is continuing, the Trustee may pursue any available
remedy to collect the payment of principal, premium, if any, and interest on the Notes or to
enforce the performance of any provision of the Notes or this Indenture.

          (b) The Trustee may maintain a proceeding even if it does not possess any of the Notes or does
not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a
Note in exercising any right or remedy accruing upon an Event of Default shall not impair the right
or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are
cumulative to the extent permitted by law.

          Section 6.04. Waiver of Past Defaults.

          (a) Holders of a majority in aggregate principal amount of the then outstanding Notes by
written notice to the Trustee may, on behalf of the Holders of all of the Notes, rescind and annul
a declaration of acceleration pursuant to Section 6.02 hereof, and its consequences, and waive any
related existing Default or Event of Default (except a continuing Default or Event of Default in
the payment of interest on the principal of the Notes) if:

     (i) the Company has paid or deposited with the Trustee a sum sufficient to pay (x) all
sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses and
disbursements and advances of the Trustee, it agents and counsel, (y) all overdue interest
on all Notes, (z) the principal of and premium, if any, on any Notes that have become due
otherwise than by such declaration or occurrence of acceleration and interest at the rate
prescribed therefor by such Notes, and (iv) to the extent that payment for such interest is
lawful, interest upon overdue interest, if any, at the rate prescribed in Section 4.01
hereof,

     (ii) all existing Events of Default, other than the nonpayment of the principal of,
premium, if any, and interest on the Notes that have become due solely by such declaration
of acceleration, have been cured or waived, and

     (iii) the rescission would not conflict with any judgment or decree of a court of
competent jurisdiction.

          (b) The Company shall deliver to the Trustee an Officers’ Certificate stating that the
requisite percentage of Holders have consented to any such waiver and attaching copies of such
consents. In case of any such waiver, the Parent, Company, the Trustee and the Holders shall be
restored to their former positions and rights hereunder and under the Notes, respectively. This
Section 6.04 and Section 9.02 shall be in lieu of Section 316(a)(1)(B) of the TIA and such
Section 316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the Notes, as
permitted by the TIA. 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

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Indenture; but no such waiver shall extend to any subsequent or other Default or impair any
right consequent thereon.

          Section 6.05. Control by Majority.

          The Holders of a majority in aggregate principal amount of the then outstanding Notes will
have the right to direct the time, method and place of conducting any proceeding for exercising any
remedy available to the Trustee. However, the Trustee may refuse to follow any direction that
conflicts with law or this Indenture, that may involve the Trustee in personal liability, or that
the Trustee determines in good faith may be unduly prejudicial to the rights of Holders of Notes
not joining in the giving of such direction and may take any other action it deems proper that is
not inconsistent with any such direction received from Holders of Notes.

          Section 6.06. Limitation on Suits.

          (a) A Holder may not pursue any remedy with respect to this Indenture or the Notes unless:

     (i) the Holder gives the Trustee written notice of a continuing Event of Default;

     (ii) the Holders of at least 25% in aggregate principal amount of then outstanding
Notes make a written request to the Trustee to pursue the remedy;

     (iii) such Holder or Holders offer the Trustee indemnity satisfactory to the Trustee
against any costs, liability or expense;

     (iv) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer of indemnity; and

     (v) during such 60-day period, the Holders of a majority in aggregate principal amount
of the outstanding Notes do not give the Trustee a direction that is inconsistent with the
request.

          Such limitations do not apply to the right of any Holder of a Note to receive payment of the
principal of or premium or interest on, such Note or to bring suit for the enforcement of any such
payment, on or after the due date expressed in the Notes, which right shall not be impaired or
affected without the consent of the Holder.

          (b) A Holder of a Note may not use this Indenture to prejudice the rights of another Holder of
a Note or to obtain a preference or priority over another Holder of a Note.

          Section 6.07. Rights of Holders of Notes to Receive Payment.

          Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to
receive payment of principal, premium, if any, and interest on the Note, on or after the respective
due dates expressed in the Note (including in connection with an offer to purchase), or

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to bring suit for the enforcement of any such payment on or after such respective dates, shall
not be impaired or affected without the consent of such Holder.

          Section 6.08. Collection Suit by Trustee.

          If an Event of Default specified in Section 6.01(a)(i) or (a)(ii) occurs and is continuing,
the Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Company for the whole amount of principal of, premium, if any, and interest remaining
unpaid on the Notes and interest on overdue principal and premium, if any, and, to the extent
lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel.

          Section 6.09. Trustee May File Proofs of Claim.

          The Trustee is authorized to file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Company
or any Guarantor (or any other obligor upon the Notes), its creditors or its property and shall be
entitled and empowered to collect, receive and distribute any money or other securities or property
payable or deliverable on any such claims and any custodian in any such judicial proceeding is
hereby authorized by each Holder to make such payments to the Trustee, and in the event that the
Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due to it for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof.
To the extent that the payment of any such compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07
hereof out of the estate in any such proceeding, shall be denied for any reason, payment of the
same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends,
money, securities and other properties that the Holders may be entitled to receive in such
proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise.
Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or
accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or
composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in
respect of the claim of any Holder in any such proceeding.

          Section 6.10. Priorities.

          (a) If the Trustee collects any money pursuant to this Article, it shall pay out the money in
the following order:

     First: to the Trustee, its agents and attorneys for amounts due under Section 7.07
hereof, including payment of all compensation, expense and liabilities Incurred, and all
advances made, by the Trustee and the costs and expenses of collection;

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     Second: to Holders of Notes for amounts due and unpaid on the Notes for principal,
premium, if any, and interest ratably, without preference or priority of any kind, according
to the amounts due and payable on the Notes for principal, premium, if any, and interest;
and

     Third: the balance, if any, to the Company or to such party as a court of competent
jurisdiction shall direct.

          (b) The Trustee may fix a record date and payment date for any payment to Holders of Notes
pursuant to this Section 6.10.

          Section 6.11. Undertaking for Costs.

          In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the
suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’
fees, against any party litigant in the suit, having due regard to the merits and good faith of the
claims or defenses made by the party litigant. This Section does not apply to a suit by the
Trustee, a suit by a Holder of a Note pursuant to Section 6.07 hereof, or a suit by Holders of more
than ten percent in principal amount of the then outstanding Notes.

ARTICLE SEVEN

TRUSTEE

          Section 7.01. Duties of Trustee. Except to the extent, if any, provided otherwise in
the Trust Indenture Act of 1939 (as from time to time in effect):

          (a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of
the rights and powers vested in it by this Indenture, and use the same degree of care and skill in
its exercise, as a prudent person would exercise or use under the circumstances in the conduct of
such person’s own affairs.

          (b) Except during the continuance of an Event of Default:

     (i) the duties of the Trustee shall be determined solely by the express provisions of
this Indenture and the Trustee need perform only those duties that are specifically set
forth in this Indenture and no others, and no implied covenants or obligations shall be read
into this Indenture against the Trustee; and

     (ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this
Indenture. However, the Trustee shall examine the certificates and opinions to determine
whether or not they conform to the requirements of this Indenture.

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          (c) The Trustee may not be relieved from liabilities for its own negligent action, its own
negligent failure to act, or its own willful misconduct, except that:

     (i) this paragraph does not limit the effect of paragraph (b) of this Section;

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

     (iii) the Trustee shall not be liable with respect to any action it takes or omits to
take in good faith in accordance with a direction received by it pursuant to Section 6.05
hereof.

          (d) Whether or not therein expressly so provided, every provision of this Indenture that in
any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.01.

          (e) No provision of this Indenture shall require the Trustee to expend or risk its own funds
or incur any liability. The Trustee shall be under no obligation to exercise any of its rights and
powers under this Indenture at the request of any Holder of Notes, unless such Holder shall have
offered to the Trustee security and indemnity satisfactory to it against any loss, liability or
expense.

          (f) Money held in trust by the Trustee need not be segregated from other funds except to the
extent required by law.

          Section 7.02. Certain Rights of Trustee.

          (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to
have been signed or presented by the proper Person. The Trustee need not investigate any fact or
matter stated in the document.

          (b) Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate
or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits
to take in good faith in reliance on such Officers’ Certificate or Opinion of Counsel. The Trustee
may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and
complete authorization and protection from liability in respect of any action taken, suffered or
omitted by it hereunder in good faith and in reliance thereon.

          (c) The Trustee may act through its attorneys and agents and shall not be responsible for the
misconduct or negligence of any agent appointed with due care.

          (d) The Trustee shall not be liable for any action it takes or omits to take in good faith
that it believes to be authorized or within the rights or powers conferred upon it by this
Indenture.

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          (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction
or notice from the Company shall be sufficient if signed by two Officers of the Company.

          (f) The Trustee shall be under no obligation to exercise any of the rights or powers vested in
it by this Indenture at the request or direction of any of the Holders unless such Holders shall
have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs,
expenses and liabilities that might be incurred by it in compliance with such request or direction.
In no event shall the Trustee be liable to any Person for special, punitive, indirect,
consequential or incidental loss or damage of any kind whatsoever (including but not limited to
lost profits) for any action it takes or omits to take, even if the Trustee has been advised of the
likelihood of such loss or damage.

          (g) 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 such
event is sent to the Trustee in accordance with Section 12.02 hereof, and such notice references
the Notes.

          Section 7.03. Individual Rights of Trustee.

          The Trustee in its individual or any other capacity may become the owner or pledgee of Notes
and may become a creditor of, or otherwise deal with, the Company or any of its Affiliates with the
same rights it would have if it were not Trustee. However, in the event that the Trustee acquires
any conflicting interest as described in the Trust Indenture Act of 1939 (as in effect at such
time), it must eliminate such conflict within 90 days, apply to the Commission for permission to
continue as trustee or resign. Any Agent may do the same with like rights and duties. The Trustee
is also subject to Sections 7.10 and 7.11 hereof.

          Section 7.04. Trustee’s Disclaimer.

          The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture, it shall not be accountable for the Company’s use of the proceeds from
the Notes or any money paid to the Company or upon the Company’s direction under any provision of
this Indenture, it shall not be responsible for the use or application of any money received by any
Paying Agent other than the Trustee, and it shall not be responsible for any statement or recital
herein or any statement in the Notes or any other document in connection with the sale of the Notes
or pursuant to this Indenture other than its certificate of authentication.

          Section 7.05. Notice of Defaults.

          If a Default or Event of Default occurs and is continuing and if it is known to the Trustee,
the Trustee shall deliver to Holders of Notes a notice of the Default or Event of Default within 90
days after it occurs. Except in the case of a Default or Event of Default in payment of principal,
premium, if any, or interest on any Note, the Trustee may withhold the notice if and so long as a
committee of its Responsible Officers in good faith determines that withholding the notice is in
the interests of the Holders of the Notes.

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          Section 7.06. Reports by Trustee to Holders of the Notes.

          (a) Within 60 days after each May 31 beginning with the May 31 following the date hereof, and
for so long as Notes remain outstanding, the Trustee shall deliver to the Holders of the Notes a
brief report dated as of such reporting date that complies with TIA § 313(a) (but if no event
described in TIA § 313(a) has occurred within the twelve months preceding the reporting date, no
report need be transmitted). The Trustee also shall comply with TIA § 313(b)(2). The Trustee
shall also transmit by mail all reports as required by TIA § 313(c).

          (b) A copy of each report at the time of its delivery to the Holders of Notes shall be
delivered to the Company and filed with the Commission and each stock exchange on which the Notes
are listed in accordance with TIA § 313(d). The Company shall promptly notify the Trustee when the
Notes are listed on any stock exchange or any delisting thereof.

          Section 7.07. Compensation and Indemnity.

          (a) The Company shall pay to the Trustee from time to time reasonable compensation for its
acceptance of this Indenture and services hereunder in accordance with a written schedule provided
by the Trustee to the Company. The Trustee’s compensation shall not be limited by any law on
compensation of a trustee of an express trust. The Company shall reimburse the Trustee promptly
upon request for all reasonable disbursements, advances and expenses incurred or made by it in
addition to the compensation for its services. Such expenses shall include the reasonable
compensation, disbursements and expenses of the Trustee’s agents and counsel.

          (b) The Company shall indemnify the Trustee for, and hold it harmless against any and all
losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance
or administration of its duties under this Indenture, including the costs and expenses of enforcing
this Indenture against the Company (including this Section 7.07) and defending itself against any
claim (whether asserted by either of the Company or any Holder or any other person) or liability in
connection with the exercise or performance of any of its powers or duties hereunder, except to the
extent any such loss, liability or expense may be attributable to its gross negligence, or willful
misconduct. The Trustee shall notify the Company promptly of any claim for which it may seek
indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its
obligations hereunder unless and to the extent failure to notify the Company materially impairs the
Company’s ability to defend such claim. The Company shall defend the claim and the Trustee shall
cooperate in the defense. The Company need not pay for any settlement made without its consent,
which consent shall not be unreasonably withheld.

          (c) The obligations of the Company under this Section 7.07 shall survive the satisfaction and
discharge of this Indenture and resignation or removal of the Trustee.

          (d) To secure the Company’s payment obligations in this Section, the Trustee shall have a Lien
prior to the Notes on all money or property held or collected by the Trustee, except that held in
trust to pay principal and interest on particular Notes. Such Lien shall survive the satisfaction
and discharge of this Indenture and resignation or removal of the Trustee.

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          (e) When the Trustee incurs expenses or renders services after an Event of Default specified
in Section 6.01(a)(viii) and (ix) hereof occurs, the expenses and the compensation for the services
(including the fees and expenses of its agents and counsel) are intended to constitute expenses of
administration under any Bankruptcy Law.

          (f) The Trustee shall comply with the provisions of TIA § 313(b)(2) to the extent applicable.

          Section 7.08. Replacement of Trustee.

          (a) A resignation or removal of the Trustee and appointment of a successor Trustee shall
become effective only upon the successor Trustee’s acceptance of appointment as provided in this
Section 7.08.

          (b) The Trustee may resign by notifying the Company in writing at any time and be discharged
from the trust hereby created by so notifying the Company. The Holders of a majority in principal
amount of the then outstanding Notes may remove the Trustee upon 30 days notice by so notifying the
Trustee and the Company in writing. The Company may remove the Trustee if:

     (i) the Trustee fails to comply with Section 7.10 hereof;

     (ii) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is
entered with respect to the Trustee under any Bankruptcy Law;

     (iii) a custodian or public officer takes charge of the Trustee or its property; or

     (iv) the Trustee becomes incapable of acting.

          (c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for
any reason, the Company shall promptly appoint a successor Trustee. Within one year after the
successor Trustee takes office, the Holders of a majority in principal amount of the then
outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the
Company.

          (d) If a successor Trustee does not take office within 30 days after the retiring Trustee
resigns or is removed, the retiring Trustee, the Company, or the Holders of Notes of at least 10%
in principal amount of the then outstanding Notes may petition at the expense of the Company any
court of competent jurisdiction for the appointment of a successor Trustee.

          (e) If the Trustee, after written request by any Holder who has been a Holder for at least six
months, fails to comply with Section 7.10, such Holder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.

          (f) A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee shall deliver a notice of its

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succession to Holders. The retiring Trustee shall promptly transfer all property held by it
as Trustee to the successor Trustee, provided all sums owing to the Trustee hereunder have been
paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of
the Trustee pursuant to this Section 7.08, the Company’s obligations under Section 7.07 hereof
shall continue for the benefit of the retiring Trustee.

          Section 7.09. Successor Trustee by Merger, Etc.

          Any business entity into which the Trustee may be merged or converted or with which it may be
consolidated, or any entity resulting from any merger, conversion or consolidation to which the
Trustee shall be a party, or any entity succeeding to all or substantially all of the corporate
trust business of the Trustee, shall be the successor of the Trustee hereunder, without the
execution or filing of any paper or any further act on the part of any of the parties hereto.

          Section 7.10. Eligibility; Disqualification.

          There shall at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate trustee power, that is subject to supervision or examination
by federal or state authorities and that has a combined capital and surplus of at least $150.0
million as set forth in its most recent published annual report of condition.

          This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1),
(2) and (5). The Trustee is subject to TIA § 310(b).

          Section 7.11. Preferential Collection of Claims Against Company.

          The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in
TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the
extent indicated therein. The Trustee hereby waives any right to set-off any claim that it may
have against the Company in any capacity (other than as Trustee and Paying Agent) against any of
the assets of the Company held by the Trustee; provided, however, that if the Trustee is or becomes
a lender of any other Indebtedness permitted hereunder to be pari passu with the Notes, then such
waiver shall not apply to the extent of such Indebtedness.

          Section 7.12. No Representation by Trustee.

          The recitals and statements contained herein (except the name, address and jurisdiction of
organization of the Trustee) and in the Notes (other than the Trustee’s authentication of the
Notes) shall be taken as the recitals of and statements of the Company, and the Trustee assumes no
responsibility for their correctness. The Trustee shall not be responsible for and makes no
representations as to the validity or sufficiency of this Indenture or of the Notes (except the
Trustee’s certificates of authentication thereof) of any series. The Trustee shall not be
accountable for the use or application by the Company of the Notes or the proceeds thereof. The
Trustee shall have no duty to ascertain or inquire as to the performance of the Company’s covenants
in Article Four hereof or otherwise established by the terms of the Notes.

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ARTICLE EIGHT

DEFEASANCE AND COVENANT DEFEASANCE

          Section 8.01. Option to Effect Legal Defeasance or Covenant Defeasance.

          The Company may, at its option and at any time, elect to have either Section 8.02 or 8.03
hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in
this Article Eight.

          Section 8.02. Legal Defeasance and Discharge.

          Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this
Section 8.02, the Parent and its Restricted Subsidiaries shall, subject to the satisfaction of the
conditions set forth in Section 8.04 hereof, be deemed to have been discharged from their
respective obligations with respect to all outstanding Notes and all obligations of the Guarantors
shall be deemed to have been discharged with respect to their obligations under the Note Guarantees
on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For
this purpose, Legal Defeasance means that the Company and the Guarantors shall be deemed to have
paid and discharged the entire Indebtedness represented by the outstanding Notes and Note
Guarantees, respectively, which shall thereafter be deemed to be “outstanding” only for the
purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in (a) and (b)
below, and to have satisfied all its other obligations under such Notes and this Indenture (and the
Trustee, on demand of and at the expense of the Company, shall execute proper instruments
acknowledging the same), except for the following provisions which shall survive until otherwise
terminated or discharged hereunder: (a) the rights of Holders of outstanding Notes to receive from
the trust fund described in Section 8.04 hereof, and as more fully set forth in such Section,
payments in respect of the principal of, or interest or premium on such Notes when such payments
are due, (b) the Company’s obligations with respect to such Notes under Article Two concerning
issuing temporary Notes, registration of Notes, mutilated, destroyed, lost or stolen Notes and the
Company’s obligations under Section 4.02 hereof, (c) the rights, powers, trusts, duties and
immunities of the Trustee hereunder and the Company’s and any Guarantors’ obligations in connection
therewith and (d) this Article Eight. Subject to compliance with this Article Eight, the Company
may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option
under Section 8.03 hereof.

          Section 8.03. Covenant Defeasance.

          Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this
Section 8.03, the Company shall, subject to the satisfaction of the conditions set forth in
Section 8.04 hereof, be released from its obligations under the covenants contained in
Sections 4.07, 4.08, 4.09 (including the incorporation thereof into Section 5.01(a)(iii)), 4.10,
4.11, 4.12, 4.13, 4.14, 4.15, 4.16, 4.17 and 4.18 hereof with respect to the outstanding Notes on
and after the date the conditions set forth in Section 8.04 are satisfied (hereinafter, “Covenant
Defeasance”), and the Notes shall thereafter be deemed not “outstanding” for the purposes of any
direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof)
in connection with such covenants, but shall continue to be deemed “outstanding” for all

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other purposes hereunder (it being understood that such Notes shall not be deemed outstanding
for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the
outstanding Notes, the Parent and its Restricted Subsidiaries may omit to comply with and shall
have no liability in respect of any term, condition or limitation set forth in any such covenant,
whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or
by reason of any reference in any such covenant to any other provision herein or in any other
document and such omission to comply shall not constitute a Default or an Event of Default under
Section 6.01 hereof, but, except as specified above, the remainder of this Indenture and such Notes
shall be unaffected thereby. In addition, upon the Company’s exercise under Section 8.01 hereof of
the option applicable to this Section 8.03, subject to the satisfaction of the conditions set forth
in Section 8.04 hereof, Sections 6.01(a)(iii) through (vii) shall not constitute Events of Default.

          Section 8.04. Conditions to Legal or Covenant Defeasance.

          (a) The following shall be the conditions to the application of either Section 8.02 or 8.03
hereof to the outstanding Notes:

     (i) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of
the Holders of the Notes, cash in U.S. dollars, non-callable Government Securities, or a
combination thereof, in such amounts as shall be sufficient, in the opinion of a nationally
recognized firm of independent public accountants, to pay the principal of, and interest and
premium on the outstanding Notes on the Stated Maturity or on the applicable redemption
date, as the case may be, and the Company must specify whether the Notes are being defeased
to maturity or to a particular redemption date;

     (ii) in the case of Legal Defeasance, the Company shall have delivered to the Trustee
an Opinion of Counsel reasonably acceptable to the Trustee confirming that (a) the Company
has received from, or there has been published by, the Internal Revenue Service a ruling or
(b) since the Issue Date, there has been a change in the applicable U.S. federal income tax
law, in either case to the effect that, and based thereon such Opinion of Counsel shall
confirm that, the Holders of the outstanding Notes shall not recognize income, gain or loss
for U.S. federal income tax purposes as a result of such Legal Defeasance and shall be
subject to U.S. federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such Legal Defeasance had not occurred;

     (iii) in the case of Covenant Defeasance, the Company shall have delivered to the
Trustee an Opinion of Counsel reasonably acceptable to the Trustee confirming that the
Holders of the outstanding Notes shall not recognize income, gain or loss for U.S. federal
income tax purposes as a result of such Covenant Defeasance and shall be subject to U.S.
federal income tax on the same amounts, in the same manner and at the same times as would
have been the case if such Covenant Defeasance had not occurred;

     (iv) no Default or Event of Default shall have occurred and be continuing either:
(a) on the date of such deposit; or (b) insofar as Events of Default from

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bankruptcy or insolvency events are concerned, at any time in the period ending on the
123rd day after the date of deposit;

     (v) such Legal Defeasance or Covenant Defeasance shall not result in a breach or
violation of, or constitute a default under any material agreement or instrument to which
the Parent or any of its Subsidiaries is a party or by which the Parent or any of its
Subsidiaries is bound;

     (vi) the Company must have delivered to the Trustee an Opinion of Counsel to the effect
that, (1) assuming no intervening bankruptcy of the Parent, the Company or any Subsidiary
Guarantor between the date of deposit and the 123rd day following the deposit and
assuming that no Holder is an “insider” of the Parent, the Company or any Subsidiary
Guarantor under applicable bankruptcy law, after the 123rd day following the
deposit, the trust funds shall not be subject to the effect of any applicable bankruptcy,
insolvency, reorganization or similar laws affecting creditors’ rights generally, including
Section 547 of the United States Bankruptcy Code and Section 15 of the New York Debtor and
Creditor Law and (2) the creation of the defeasance trust does not violate the Investment
Company Act of 1940;

     (vii) the Company must deliver to the Trustee an Officers’ Certificate stating that the
deposit was not made by the Company with the intent of preferring the Holders over the other
creditors of the Company or any Guarantor with the intent of defeating, hindering, delaying
or defrauding creditors of the Company, any Guarantor or others;

     (viii) if the Notes are to be redeemed prior to their Stated Maturity, the Company must
deliver to the Trustee irrevocable instructions to redeem all of the Notes on the specified
redemption date; and

     (ix) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the
Covenant Defeasance have been complied with.

          Section 8.05. Deposited Money and Government Securities to Be Held in Trust;
Other Miscellaneous Provisions.

          (a) Subject to Section 8.06 hereof, all money and non-callable Government Securities
(including the proceeds thereof) deposited with the Trustee pursuant to Section 8.04 hereof in
respect of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance
with the provisions of such Notes and this Indenture, to the payment, either directly or through
any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to
the Holders of such Notes of all sums due and to become due thereon in respect of principal,
premium and interest, but such money need not be segregated from other funds except to the extent
required by law.

          (b) The Company shall pay and indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against the cash or non-callable Government Securities deposited pursuant to
Section 8.04 hereof or the principal and interest received in respect thereof

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other than any such tax, fee or other charge which by law is for the account of the Holders of
the outstanding Notes.

          (c) Anything in this Article Eight to the contrary notwithstanding, the Trustee shall deliver
or pay to the Company from time to time upon the request of the Company any money or non-callable
Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a
nationally recognized independent registered public accounting firm expressed in a written
certification thereof delivered to the Trustee (which may be the opinion delivered under
Section 8.04(a) hereof), are in excess of the amount thereof that would then be required to be
deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

          Section 8.06. Repayment to the Company.

          Subject to applicable escheat laws, 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, premium, if any, or
interest on any Note and remaining unclaimed for two years after such principal, and premium, if
any, or interest has become due and payable shall be paid to the Company on its request or (if then
held by the Company) shall be discharged from such trust; and the Holder of such Note shall
thereafter look only to the Company for payment thereof, and all liability of the Trustee or such
Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof,
shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being
required to make any such repayment, may at the expense of the Company cause to be published once,
in the New York Times and The Wall Street Journal (national edition), notice that such money
remains unclaimed and that, after a date specified therein, which shall not be less than 30 days
from the date of such notification or publication, any unclaimed balance of such money then
remaining shall be repaid to the Company.

          Section 8.07. Reinstatement.

          If the Trustee or Paying Agent is unable to apply any United States dollars or non-callable
Government Securities in accordance with Section 8.02 or 8.03 hereof, as the case may be, by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Company’s obligations under this Indenture and the Notes
shall be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03
hereof and, in the case of a Legal Defeasance, the Guarantors’ obligations under their respective
Note Guarantees shall be revised and reinstated as though no deposit had occurred pursuant to
Section 8.04 hereof, in each case until such time as the Trustee or Paying Agent is permitted to
apply all such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided,
however, that, if the Company makes any payment of principal of, premium, if any, or interest on
any Note following the reinstatement of its obligations, the Company shall be subrogated to the
rights of the Holders of such Notes to receive such payment from the money held by the Trustee or
Paying Agent.

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          Section 8.08. Survival of Rights.

          Notwithstanding the defeasance of the obligations under this Indenture, whether by Legal
Defeasance or by Covenant Defeasance, any obligations of the Company under Section 8.05(b) and
immunities of the Trustee under this Indenture shall survive.

ARTICLE NINE

AMENDMENT, SUPPLEMENT AND WAIVER

          Section 9.01. Without Consent of Holders of Notes.

          (a) Notwithstanding Section 9.02 of this Indenture, the Company, the Guarantors, and the
Trustee may amend or supplement this Indenture or the Notes without the consent of any Holder of a
Note:

     (i) to cure any ambiguity, defect or inconsistency;

     (ii) to provide for uncertificated Notes in addition to or in place of certificated
Notes;

     (iii) to provide for the assumption of the Parent’s, the Company’s or any Subsidiary
Guarantor’s obligations to Holders of Notes in the case of a merger or consolidation or sale
of all or substantially all of the Parent’s, the Company’s or such Subsidiary Guarantor’s
assets;

     (iv) to make any change that would provide any additional rights or benefits to the
Holders of Notes or that does not materially adversely affect the legal rights under this
Indenture of any such Holder;

     (v) to comply with requirements of the Commission in order to effect or maintain the
qualification of this Indenture under the Trust Indenture Act;

     (vi) to comply with the provisions described under Section 4.18 or Article Ten;

     (vii) to evidence and provide for the acceptance of appointment of a successor Trustee;

     (viii) to provide for the issuance of Additional Notes in accordance with this
Indenture; or

     (ix) to conform the text of this Indenture or the Notes to any provision of the
“Description of Notes” in the Prospectus Supplement to the extent such provision in the
“Description of Notes” was intended to be a verbatim recitation of a provision of the
Indenture.

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          (b) Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amended or supplemental Indenture, and upon receipt by the
Trustee of any documents requested under Section 7.02(b) hereof, the Trustee shall join with the
Company in the execution of any amended or supplemental Indenture authorized or permitted by the
terms of this Indenture and make any further appropriate agreements and stipulations that may be
therein contained, but the Trustee shall not be obligated to enter into such amended or
supplemental Indenture that affects its own rights, duties or immunities under this Indenture or
otherwise.

          Section 9.02. With Consent of Holders of Notes.

          (a) Except as otherwise provided in this Section 9.02, the Company, the Guarantors and the
Trustee may amend or supplement this Indenture or the Notes with the consent of the Holders of at
least a majority in aggregate principal amount of the Notes then outstanding (including, without
limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer
for, Notes), and, subject to Sections 6.04 and 6.07 hereof, any existing Default or Event of
Default or compliance with any provision of this Indenture or the Notes may be waived with the
consent of the Holders of a majority in aggregate principal amount of the then outstanding Notes
(including, without limitation, consents obtained in connection with a purchase of, or tender offer
or exchange offer for, Notes).

          (b) The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Persons entitled to consent to any indenture supplemental hereto. If a record date
is fixed, the Holders on such record date, or its duly designated proxies, and only such Persons,
shall be entitled to consent to such supplemental indenture, whether or not such Holders remain
Holders after such record date; provided that unless such consent shall have become effective by
virtue of the requisite percentage having been obtained prior to the date which is 90 days after
such record date, any such consent previously given shall automatically and without further action
by any Holder be cancelled and of no further effect.

          (c) Upon the request of the Company accompanied by a resolution of its Board of Directors
authorizing the execution of any such amendment or supplement to this Indenture, and upon the
filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of
Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02
hereof, the Trustee shall join with the Company in the execution of such amendment or supplement
unless such amendment or supplement directly affects the Trustee’s own rights, duties or immunities
under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not
be obligated to, enter into such amendment or supplement.

          (d) It shall not be necessary for the consent of the Holders of Notes under this Section 9.02
to approve the particular form of any proposed amendment, supplement or waiver, but it shall be
sufficient if such consent approves the substance thereof.

          (e) After an amendment, supplement or waiver under this Section becomes effective, the Company
shall deliver to the Holders of Notes affected thereby a notice briefly describing the amendment,
supplement or waiver. Any failure of the Company to deliver such

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notice, or any defect therein, shall not, however, in any way impair or affect the validity of
any such amendment, supplement or waiver. Subject to Sections 6.04 and 6.07 hereof, the Holders of
a majority in aggregate principal amount of the then outstanding Notes (including Additional Notes,
if any) may waive compliance in a particular instance by the Company with any provision of this
Indenture or the Notes. However, without the consent of each Holder affected, an amendment or
waiver under this Section 9.02 may not:

     (i) reduce the principal amount of Notes whose Holders must consent to an amendment,
supplement or waiver;

     (ii) reduce the principal of or change the fixed maturity of any Note or alter the
provisions, or waive any payment, with respect to the redemption of the Notes;

     (iii) amend, change or modify the obligation of the Company to make and consummate an
Asset Sale Offer with respect to any Asset Sale in accordance with Section 4.10 after the
obligation to make such Asset Sale Offer has arisen, or the obligation of the Company to
make and consummate a Change of Control Offer in the event of a Change of Control in
accordance with Section 4.14 after such Change of Control has occurred, including, in each
case, amending, changing or modifying any definition relating thereto;

     (iv) reduce the rate of or change the time for payment of interest on any Note;

     (v) waive a Default or Event of Default in the payment of principal of, or interest or
premium on, the Notes (except a rescission of acceleration of the Notes by the Holders of at
least a majority in aggregate principal amount of the then outstanding Notes and a waiver of
the payment default that resulted from such acceleration);

     (vi) make any Note payable in money other than U.S. dollars;

     (vii) make any change in the provisions of this Indenture relating to waivers of past
Defaults or the rights of Holders of Notes to receive payments of principal of, or interest
or premium on, the Notes;

     (viii) release any Guarantor from any of its obligations under its Note Guarantee or
this Indenture, except in accordance with the terms of this Indenture;

     (ix) impair the right to institute suit for the enforcement of any payment on or with
respect to the Notes or any Note Guarantee;

     (x) except as otherwise permitted under Sections 4.18 or Article Ten or Article Five,
consent to the assignment or transfer by the Parent, the Company or any Subsidiary Guarantor
of any of their rights or obligations under this Indenture;

     (xi) contractually subordinate in right of payment the Notes or any Note Guarantee to
any other Indebtedness; or

     (xii) make any change in the preceding amendment and waiver provisions.

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          Section 9.03. Compliance with Trust Indenture Act.

          Every amendment or supplement to this Indenture or the Notes shall be set forth in a document
that complies with the TIA as then in effect.

          Section 9.04. Revocation and Effect of Consents.

          Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a
Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or
portion of a Note that evidences the same debt as the consenting Holder’s Note, even if notation of
the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a
Note may revoke the consent as to its Note if the Trustee receives written notice of revocation
before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or
waiver becomes effective in accordance with its terms and thereafter binds every Holder.

          Section 9.05. Notation on or Exchange of Notes.

          (a) The Trustee may place an appropriate notation about an amendment, supplement or waiver on
any Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee
shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment,
supplement or waiver.

          (b) Failure to make the appropriate notation or issue a new Note shall not affect the validity
and effect of such amendment, supplement or waiver.

          Section 9.06. Trustee to Sign Amendments, Etc.

          The Trustee shall sign any amendment or supplement to this Indenture or any Note authorized
pursuant to this Article Nine if the amendment or supplement does not adversely affect the rights,
duties, liabilities or immunities of the Trustee. The Company may not sign an amendment or
supplemental Indenture or Note until its Board of Directors approves it. In executing any
amendment or supplement or Note, the Trustee shall be entitled to receive and (subject to
Section 7.01 hereof) shall be fully protected in relying upon an Officers’ Certificate and an
Opinion of Counsel stating that the execution of such amendment or supplement is authorized or
permitted by this Indenture, and the Trustee shall be entitled to receive (i) a copy of any Board
Resolution passed pursuant to this Section 9.06 and (ii) evidence of any consent of the Holders
provided in accordance with Section 9.02.

ARTICLE TEN

NOTE GUARANTEES

          Section 10.01. Guarantee.

          (a) Subject to this Article Ten, each of the Guarantors hereby, jointly and severally, and
fully and unconditionally, guarantees to each Holder of a Note authenticated and delivered by the
Trustee and to the Trustee and its successors and assigns, irrespective of the validity and
enforceability of, this Indenture, the Notes or the obligations of the Company

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hereunder or thereunder, that: (a) the principal of, premium, if any, and interest on the
Notes shall be promptly paid in full when due, whether at maturity, by acceleration, redemption or
otherwise, and interest on the overdue principal of, premium, if any, and interest on the Notes, if
lawful (subject in all cases to any applicable grace period provided herein), and all other
obligations of the Company to the Holders or the Trustee hereunder or thereunder shall be promptly
paid in full or performed, all in accordance with the terms hereof and thereof; and (b) in case of
any extension of time of payment or renewal of any Notes or any of such other obligations, the same
shall be promptly paid in full when due or performed in accordance with the terms of the extension
or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of
any amount so guaranteed or any performance so guaranteed for whatever reason, the Guarantors shall
be jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is
a guarantee of payment and not a guarantee of collection.

          (b) The Guarantors hereby agree that, to the maximum extent permitted under applicable law,
their obligations hereunder shall be unconditional, irrespective of the validity, regularity or
enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any
waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the
recovery of any judgment against the Company, any action to enforce the same or any other
circumstance which might otherwise constitute a legal or equitable discharge or defense of a
Guarantor. Subject to Section 6.06 hereof, each Guarantor hereby waives diligence, presentment,
demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the
Company, any right to require a proceeding first against the Company, protest, notice and all
demands whatsoever and covenants that this Note Guarantee shall not be discharged except by
complete performance of the obligations contained in the Notes and this Indenture.

          (c) If any Holder or the Trustee is required by any court or otherwise to return to the
Company, the Guarantors or any custodian, trustee, liquidator or other similar official acting in
relation to any of the Company or the Guarantors, any amount paid by any of them to the Trustee or
such Holder, this Note Guarantee, to the extent theretofore discharged, shall be reinstated in full
force and effect.

          (d) Each Guarantor agrees that it shall not be entitled to any right of subrogation in
relation to the Holders in respect of any obligations guaranteed hereby until payment in full of
all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors,
on the one hand, and the Holders and the Trustee, on the other hand, (x) the maturity of the
obligations guaranteed hereby may be accelerated as provided in Article Six hereof for the purposes
of this Note Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (y) in the event of any
declaration of acceleration of such obligations as provided in Article Six hereof, such obligations
(whether or not due and payable) shall forthwith become due and payable by the Guarantors for the
purpose of this Note Guarantee. The Guarantors shall have the right to seek contribution from any
non-paying Guarantor so long as the exercise of such right does not impair the rights of the
Holders under the Note Guarantee.

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          Section 10.02. Limitation on Guarantor Liability.

          Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the
intention of all such parties that the Note Guarantee of such Guarantor not constitute a fraudulent
transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the
Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to
such Note Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the
Guarantors hereby irrevocably agree that the obligations of such Guarantor shall be limited to the
maximum amount as will, after giving effect to all other contingent and fixed liabilities of such
Guarantor that are relevant under such laws, and after giving effect to any collections from,
rights to receive contribution from or payments made by or on behalf of any other Guarantor in
respect of the obligations of such other Guarantor under this Article Ten, result in the
obligations of such Guarantor under its Note Guarantee not constituting a fraudulent transfer or
conveyance.

          Section 10.03. Execution and Delivery of Note Guarantee.

          (a) To evidence its Note Guarantee set forth in Section 10.01, each Guarantor hereby agrees
that a notation of such Note Guarantee substantially in the form included in Exhibit B shall be
endorsed by an Officer of such Guarantor on each Note authenticated and delivered by the Trustee
and that this Indenture shall be executed on behalf of such Guarantor by its President or one of
its Vice Presidents.

          (b) Each Guarantor hereby agrees that its Note Guarantee set forth in Section 10.01 shall
remain in full force and effect notwithstanding any failure to endorse on each Note a notation of
such Note Guarantee.

          (c) If an Officer whose signature is on this Indenture or on the Note Guarantee no longer
holds that office at the time the Trustee authenticates the Note on which a Note Guarantee is
endorsed, the Note Guarantee shall be valid nevertheless.

          (d) The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the Note Guarantee set forth in this Indenture on behalf of the
Guarantors.

          (e) If required by Section 4.18 hereof, the Company shall cause such Subsidiaries to execute
supplemental indentures to this Indenture and Note Guarantees in accordance with Section 4.18
hereof and this Article Ten, to the extent applicable.

          Section 10.04. Guarantors May Consolidate, Etc., on Certain Terms.

          (a) A Subsidiary Guarantor may not sell or otherwise dispose of all or substantially all of
its assets to, or consolidate with or merge with or into (whether or not such Subsidiary Guarantor
is the surviving Person), another Person, other than the Parent, the Company or another Subsidiary
Guarantor, unless:

     (i) immediately after giving effect to that transaction, no Default or Event of Default
exists; and

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     (ii) either:

     (A) the Person acquiring the property in any such sale or disposition or the
Person formed by or surviving any such consolidation or merger (if other than the
Subsidiary Guarantor) is organized or existing under the laws of the United States,
any state thereof or the District of Columbia and assumes all the obligations of
that Subsidiary Guarantor under this Indenture and its Note Guarantee pursuant to a
supplemental indenture satisfactory to the Trustee; or

     (B) such sale or other disposition or consolidation or merger complies with
Section 4.10 hereof.

          (b) In case of any such consolidation, merger, sale or conveyance governed by
Section 10.04(a)(ii)(A), upon the assumption by the successor Person, by supplemental indenture,
executed and delivered to the Trustee and reasonably satisfactory in form to the Trustee, of the
Note Guarantee endorsed upon the Notes and the due and punctual performance of all of the covenants
and conditions of this Indenture to be performed by a Subsidiary Guarantor, such successor Person
shall succeed to and be substituted for a Subsidiary Guarantor with the same effect as if it had
been named herein as a Subsidiary Guarantor. Such successor Person thereupon may cause to be
signed any or all of the Note Guarantees to be endorsed upon all of the Notes issuable hereunder
which theretofore shall not have been signed by the Company and delivered to the Trustee. All the
Note Guarantees so issued shall in all respects have the same legal rank and benefit under this
Indenture as the Note Guarantees theretofore and thereafter issued in accordance with the terms of
this Indenture as though all of such Note Guarantees had been issued at the date of the execution
hereof.

          Section 10.05. Release of a Subsidiary Guarantor.

          (a) Any Subsidiary Guarantor shall be released and relieved of any obligations under its Note
Guarantee, (i) in connection with any sale or other disposition of all of the Capital Stock of a
Subsidiary Guarantor to a Person that is not (either before or after giving effect to such
transaction) a Restricted Subsidiary of the Parent, if the sale of all such Capital Stock of that
Subsidiary Guarantor complies with Section 4.10 hereof; (ii) if the Parent properly designates any
Restricted Subsidiary that is a Subsidiary Guarantor as an Unrestricted Subsidiary under this
Indenture; (iii) upon legal or covenant defeasance or satisfaction and discharge of the Notes as
permitted under this Indenture; (iv) other than with respect to Domestic Restricted Subsidiaries,
solely in the case of a Note Guarantee created pursuant to Section 4.18(b), upon release or
discharge of the Guarantee which resulted in the creation of such Note Guarantee pursuant to
Section 4.18(b), except a discharge or release by or as a result of payment under such Guarantee;
or (v) if such Subsidiary Guarantor becomes a Foreign Restricted Subsidiary by merger,
consolidation or otherwise, unless such Foreign Restricted Subsidiary (i) is a First Tier
Restricted Subsidiary or (ii) is required to Guarantee the Notes and be a Subsidiary Guarantor
pursuant to Section 4.18(b).

          (b) Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of
Counsel to the effect that one of the foregoing requirements has been satisfied and the conditions
to the release of a Guarantor under this Section 10.05 have been met, the

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Trustee shall execute any documents reasonably required in order to evidence the release of
such Subsidiary Guarantor from its obligations under its Note Guarantee.

          (c) Any Subsidiary Guarantor not released from its obligations under its Note Guarantee shall
remain liable for the full amount of principal of and interest on the Notes and for the other
obligations of any Subsidiary Guarantor under this Indenture as provided in this Article Ten.

ARTICLE ELEVEN

SATISFACTION AND DISCHARGE

          Section 11.01. Satisfaction and Discharge.

          (a) This Indenture shall be discharged and shall cease to be of further effect as to all Notes
issued thereunder, when:

          (i) either:

     (A) all Notes that have been authenticated (except lost, stolen or destroyed
Notes that have been replaced or paid and Notes for whose payment money has
theretofore been deposited in trust and thereafter repaid to the Company) have been
delivered to the Trustee for cancellation; or

     (B) all Notes that have not been delivered to the Trustee for cancellation have
become due and payable by reason of the mailing of a notice of redemption or
otherwise or shall become due and payable within one year and the Company or any
Guarantor has irrevocably deposited or caused to be deposited with the Trustee as
trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars,
non-callable Government Securities, or a combination thereof, in such amounts as
shall be sufficient without consideration of any reinvestment of interest, to pay
and discharge the entire indebtedness on the Notes not delivered to the Trustee for
cancellation for principal, premium and accrued interest to the date of maturity or
redemption;

     (ii) no Default or Event of Default shall have occurred and be continuing on the date
of any deposit referred to in Section 11.01(a)(i)(B) or shall occur as a result of such
deposit and such deposit shall not result in a breach or violation of, or constitute a
default under, any other instrument to which the Parent, the Company or any Subsidiary
Guarantor is a party or by which the Parent, the Company or any Subsidiary Guarantor is
bound;

     (iii) the Company or any Guarantor has paid or caused to be paid all sums payable by it
under this Indenture; and

     (iv) the Company has delivered irrevocable instructions to the Trustee under this
Indenture to apply the deposited money toward the payment of the Notes at maturity or the
redemption date, as the case may be.

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          (b) In addition, the Parent or the Company, as the case may be, must deliver an Officers’
Certificate and an Opinion of Counsel (which opinion may be subject to customary assumptions and
exclusions) to the Trustee stating that all conditions precedent to satisfaction and discharge have
been satisfied.

          (c) Notwithstanding the above, the Trustee shall pay to the Company from time to time upon its
request any cash or Government Securities held by it as provided in this section which, in the
opinion of a nationally recognized independent registered public accounting firm expressed in a
written certification delivered to the Trustee, are in excess of the amount thereof that would then
be required to be deposited to effect a satisfaction and discharge under this Article Eleven.

          Section 11.02. Deposited Money and Government Securities to Be Held in Trust; Other
Miscellaneous Provisions.

          Subject to Section 11.03 hereof, all money and non-callable Government Securities (including
the proceeds thereof) deposited with the Trustee pursuant to Section 11.01 hereof in respect of the
outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the
provisions of such Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders
of such Notes of all sums due and to become due thereon in respect of principal, premium and
interest, but such money need not be segregated from other funds except to the extent required by
law.

          Section 11.03. Section 11.04. Survival

          Notwithstanding the discharge of this Indenture pursuant to this Article Eleven, the rights
and immunities of the Trustee under this Indenture shall survive.

          Section 11.04. Repayment to the Company.

          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, premium or interest on any Note and remaining unclaimed
for two years after such principal, and premium or interest has become due and payable shall be
paid to the Company on its request or (if then held by the Company) shall be discharged from such
trust; and the Holder of such Note shall thereafter look only to the Company for payment thereof,
and all liability of the Trustee or such Paying Agent with respect to such trust money, and all
liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the
Trustee or such Paying Agent, before being required to make any such repayment, may at the expense
of the Company cause to be published once, in the New York Times or The Wall Street Journal
(national edition), notice that such money remains unclaimed and that, after a date specified
therein, which shall not be less than 30 days from the date of such notification or publication,
any unclaimed balance of such money then remaining shall be repaid to the Company.

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ARTICLE TWELVE

MISCELLANEOUS

          Section 12.01. Trust Indenture Act Controls.

          If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by
TIA § 318(c), the imposed duties shall control.

          Section 12.02. Notices.

          (a) Any notice or communication by the Company or any Guarantor, on the one hand, or the
Trustee on the other hand, to the other is duly given if in writing and delivered in Person or
mailed by first class mail (registered or certified, return receipt requested), telecopier or
overnight air courier guaranteeing next day delivery, to the others’ address:

          If to the Company or any Guarantor:

NII Capital Corp.

c/o NII Holdings, Inc.

1875 Explorer Street, Suite 1000

Reston, Virginia 20190

Facsimile: (703) 390-5191

Attention: Secretary

With copies to:

Williams Mullen

Williams Mullen Center

200 South 10th Street

Richmond, VA 23219

Facsimile: (804) 420-6507

Attention: Robert E. Spicer, Jr., Esq.

If to the Trustee:

Wilmington Trust Company

Rodney Square North

1100 N. Market St.

Wilmington, DE 19890-1615

Fax: (302) 636-4145

Attention: Corporate Capital Markets

          (b) The Company the Guarantors or the Trustee, by notice to the others may designate
additional or different addresses for subsequent notices or communications.

          (c) All notices and communications (other than those sent to Holders) shall be deemed to have
been duly given: at the time delivered by hand, if personally delivered; three Business Days after
being deposited in the mail, postage prepaid, if mailed; when receipt

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acknowledged, if telecopied; and the next Business Day after timely delivery to the courier,
if sent by overnight air courier guaranteeing next day delivery.

          (d) Any notice or communication to a Holder shall be delivered by first class mail, certified
or registered, return receipt requested, electronic transmission, or by overnight air courier
guaranteeing next day delivery to its address shown on the register kept by the Registrar. Any
notice or communication shall also be so delivered to any Person described in TIA § 313(c), to the
extent required by the TIA. Failure to deliver a notice or communication to a Holder or any defect
in it shall not affect its sufficiency with respect to other Holders.

          (e) If a notice or communication is delivered in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it.

          (f) If the Company delivers a notice or communication to Holders, it shall deliver a copy to
the Trustee and each Agent at the same time.

          Section 12.03. Communication by Holders of Notes with Other Holders of Notes.

          Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to its rights
under this Indenture or the Notes. The Company, the Trustee, the Registrar and anyone else shall
have the protection of TIA § 312(c).

          Section 12.04. Certificate and Opinion as to Conditions Precedent.

          (a) Upon any request or application by the Company to the Trustee to take any action under
this Indenture (except with respect to the initial issuance of the Notes), the Company shall
furnish to the Trustee:

     (i) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee (which shall include the statements set forth in Section 12.05 hereof) stating that,
in the opinion of the signers, all conditions precedent and covenants, if any, provided for
in this Indenture relating to the proposed action have been satisfied; and

     (ii) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
(which shall include the statements set forth in Section 12.05 hereof) stating that, in the
opinion of such counsel (who may rely upon and Officers’ Certificate as to matters of fact),
all such conditions precedent and covenants have been satisfied.

          Section 12.05. Statements Required in Certificate or Opinion.

          (a) Each certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4))
shall comply with the provisions of TIA § 314(e) and shall include:

     (i) a statement that the Person making such certificate or opinion has read such
covenant or condition;

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     (ii) 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;

     (iii) a statement that, in the opinion of such Person, he or she has made such
examination or investigation as is necessary to enable him to express an informed opinion as
to whether or not such covenant or condition has been satisfied; and

     (iv) a statement as to whether or not, in the opinion of such Person, such condition or
covenant has been satisfied.

          Section 12.06. Rules by Trustee and Agents.

          The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar
or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

          Section 12.07. No Personal Liability of Directors, Officers, Employees and
Stockholders.

          No director, officer, employee, incorporator, stockholder, member, manager or partner of the
Company or any Guarantor, as such, shall have any liability for any obligations of the Company or
the Guarantors under the Notes, this Indenture, the Note Guarantees or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting
a Note waives and releases all such liability. This waiver and release are part of the
consideration for issuance of the Notes. The waiver may not be effective to waive liabilities
under the federal securities laws.

          Section 12.08. Governing Law.

          THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE
NOTES AND THE NOTE GUARANTEES.

          Section 12.09. Consent to Jurisdiction.

          Any legal suit, action or proceeding arising out of or based upon this Indenture or the
transactions contemplated hereby (“Related Proceedings”) may be instituted in the federal courts of
the United States of America located in the City of New York or the courts of the State of New York
in each case located in the City of New York (collectively, the “Specified Courts”), and each party
irrevocably submits to the non-exclusive jurisdiction of such courts in any such suit, action or
proceeding. Service of any process, summons, notice or document by mail (to the extent allowed
under any applicable statute or rule of court) to such party’s address set forth above shall be
effective service of process for any suit, action or other proceeding brought in any such court.
The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit,
action or other proceeding in the Specified Courts and irrevocably and unconditionally waive and
agree not to plead or claim in any such court has been brought in an inconvenient forum.

88

 

          Section 12.10. No Adverse Interpretation of Other Agreements.

          This Indenture may not be used to interpret any other indenture, loan or debt agreement of the
Company or any of its Subsidiaries or of any other Person. Any such indenture, loan or debt
agreement may not be used to interpret this Indenture.

          Section 12.11. Successors.

          All agreements of the Company in this Indenture and the Notes shall bind its successors. All
agreements of the Trustee in this Indenture shall bind its successors. All agreements of each
Guarantor in this Indenture shall bind its successors, except as otherwise provided in
Section 10.04.

          Section 12.12. Severability.

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

          Section 12.13. Counterpart Originals.

          The parties may sign any number of copies of this Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement.

          Section 12.14. 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 the Holders may be embodied in and evidenced by
one or more instruments of substantially similar tenor signed by such Holders in person or by
agents duly appointed in writing; and, except as herein otherwise expressly provided, such action
shall become effective when such instrument or instruments are delivered to the Trustee and, where
it is hereby expressly required, to the Company. Such instrument or instruments (and the action
embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the
Holders signing such instrument or instruments. Proof of execution of any such instrument or of a
writing appointing any such agent shall be sufficient for any purpose of this Indenture and
conclusive in favor of the Trustee and the Company if made in the manner provided in this
Section 12.14.

          (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 such witness, notary or officer 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 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.

89

 

          (c) Notwithstanding anything to the contrary contained in this Section 12.14, the principal
amount and serial numbers of Notes held by any Holder, and the date of holding the same, shall be
proved by the register of the Notes maintained by the Registrar as provided in Section 2.04 hereof.

          (d) If the Company shall solicit from the Holders of the Notes any request, demand,
authorization, direction, notice, consent, waiver or other Act, the Company may, at its option, by
or pursuant to a resolution of its Board of Directors, fix in advance a record date for the
determination of Holders entitled to give such request, demand, authorization, direction, notice,
consent, waiver or other Act, but the Company shall have no obligation to do so. Notwithstanding
TIA § 316(c), such record date shall be the record date specified in or pursuant to such
resolution, which shall be a date not earlier than the date 30 days prior to the first solicitation
of Holders generally in connection therewith or the date of the most recent list of Holders
forwarded to the Trustee prior to such solicitation pursuant to Section 2.06 hereof and not later
than the date such solicitation is completed. If such a record date is fixed, such request,
demand, authorization, direction, notice, consent, waiver or other Act may be given before or after
such record date, but only the Holders of record at the close of business on such record date shall
be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion
of the then outstanding Notes have authorized or agreed or consented to such request, demand,
authorization, direction, notice, consent, waiver or other Act, and for that purpose the then
outstanding Notes shall be computed as of such record date; provided that no such authorization,
agreement or consent by the Holders on such record date shall be deemed effective unless it shall
become effective pursuant to the provisions of this Indenture not later than eleven months after
the record date.

          (e) 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 or 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.

          (f) Without limiting the foregoing, a Holder entitled hereunder to take any action hereunder
with regard to any particular Note may do so itself with regard to all or any part of the principal
amount of such Note or by one or more duly appointed agents each of which may do so pursuant to
such appointment with regard to all or any part of such principal amount.

          Section 12.15. Benefit of Indenture.

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

          Section 12.16. Table of Contents, Headings, Etc.

          The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be

90

 

considered a part of this Indenture and shall in no way modify or restrict any of the terms or
provisions hereof.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

91

 

	 	 	 	 	 
	SIGNATURES

Very truly yours,
	 
	 
	 	NII CAPITAL CORP.	 
	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NII HOLDINGS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NEXTEL INTERNATIONAL (SERVICES), LTD.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NII FUNDING CORP.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	NII AVIATION, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Indenture Signature Page]

 

 

	 	 	 	 	 
	 	NII GLOBAL HOLDINGS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Indenture Signature Page]

 

 

	 	 	 	 	 
	 	Wilmington Trust Company, as Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

[Indenture Signature Page]

 

 

EXHIBIT A

[Face of Note]

[INSERT APPROPRIATE LEGENDS]

			
	 	 	 
	No.
	 	**$______________**

NII CAPITAL CORP.

     [THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR PURPOSES OF SECTION 1271 ET SEQ. OF THE
INTERNAL REVENUE CODE. A HOLDER MAY OBTAIN THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT,
ACCRUAL PERIODS, ISSUE DATE AND YIELD TO MATURITY FOR SUCH NOTE BY SUBMITTING A REQUEST FOR SUCH
INFORMATION TO THE FOLLOWING ADDRESS: C/O NII HOLDINGS, INC., 1875 EXPLORER STREET, SUITE 1000,
RESTON, VIRGINIA 20190, ATTENTION: SECRETARY.]1

% Senior Notes due

Issue Date:

     NII Capital Corp., a Delaware corporation (the “Company”, which term includes any successor
under this Indenture hereinafter referred to), for value received, promises to pay to
__________________, or its registered assigns, the principal sum of ____________________
($_______________ ) on

Interest Payment Dates:                    and          , commencing          .

Record Dates:                    and          .

     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.

[ATTACH NOTATION OF GUARANTEE FOR EACH GUARANTOR]

 

			
	1	 	Include only for Notes issued with original
issue discount for purposes of Section 1271 et seq. of the Internal Revenue
Code

A1-1

 

     IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile by
its duly authorized officers.

	 	 	 	 	 	 	 

	 	 	NII CAPITAL CORP.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

(Trustee’s Certificate of Authentication)

This is one of the      % Senior Notes due      described in the within-mentioned Indenture.

Dated:

	 	 	 	 	 

	WILMINGTON TRUST COMPANY	 	 
	 
	 	 	 	 
	as Trustee	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Authorized Signatory
	 	 

A1-2

 

[Reverse Side of Note]

NII CAPITAL CORP.

% Senior Notes due

          Capitalized terms used herein shall have the meanings assigned to them in the Indenture
referred to below unless otherwise indicated.

          1. Interest. The Company promises to pay interest on the principal amount of this Note at
      % per annum from the date hereof until maturity. The Company shall pay interest semi-annually in
arrears on       and       of each year, or if any such day is not a Business Day, on the next succeeding
Business Day (each an “Interest Payment Date”) with the same force and effect as if made on such
day and no interest shall accrue for the intervening period. Interest on the Notes shall accrue
from the most recent date to which interest has been paid or, if no interest has been paid, from
the date of original issuance; provided that if there is no existing Default in the payment of
interest, and if this Note is authenticated between a record date referred to on the face hereof
and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding
Interest Payment Date; provided further that the first Interest Payment Date shall be       . The
Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy
Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per
annum in excess of the rate then in effect; it shall pay interest (including post-petition interest
in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to
any applicable grace periods) from time to time on demand at the same rate to the extent lawful.
Interest shall be computed on the basis of a 360-day year of twelve 30-day months.

          2. Method of Payment. The Company shall pay interest on the Notes (except defaulted interest)
to the Persons who are registered Holders of Notes at the close of business on the record date
immediately preceding the Interest Payment Date, even if such Notes are canceled after such record
date and on or before such Interest Payment Date, except as provided in Section 2.13 of the
Indenture with respect to defaulted interest. The Notes shall be payable as to principal, premium
and interest at the office or agency of the Company maintained for such purpose or, at the option
of the Company, payment of interest may be made by check mailed to the Holders at their addresses
set forth in the register of Holders, and provided that payment by wire transfer of immediately
available funds shall be required with respect to principal of and interest, premium on all Global
Notes and to any Holder of Notes which shall have provided wire transfer instructions to the
Company or the Paying Agent. Such payment shall be in such coin or currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts.

          3. Paying Agent and Registrar. Initially, the Trustee under the Indenture shall act as Paying
Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any
Holder. The Parent or any of its Subsidiaries may act in any such capacity.

A1-3

 

          4. Indenture. The Company issued the Notes under an Indenture dated as of       (“Indenture”) among
the Company, the Guarantors and the Trustee. The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as
amended. The Notes are subject to all such terms, and Holders are referred to the Indenture and
such Act for a statement of such terms. To the extent any provision of this Note conflicts with
the express provisions of the Indenture, the provisions of the Indenture shall govern and be
controlling. The Indenture pursuant to which this Note is issued provides that an unlimited
aggregate principal amount of Additional Notes may be issued thereunder.

          5. Optional Redemption. (a) At any time on or after       , the Company shall have the option to
redeem the Notes, in whole or in part, upon not less than 30 nor more than 60 days’ prior notice,
at the redemption prices set forth below (expressed as percentages of principal amount), plus
accrued and unpaid interest on the Notes to be redeemed to the date of the redemption (subject to
the right of Holders on the relevant record date to receive interest due on the related interest
payment date), if redeemed during the twelve-month period beginning on       of the years indicated
below:

	 	 	 	 	 
	Year	 	Percentage
	 
	 	 	 	%
	 
	 	 	 	%
	 
	 	 	 	%
	and thereafter
	 	 	100.000	%

          (b) At any time prior to , the Company may (on any one or more occasions) redeem up to 35% of
the aggregate principal amount of Notes issued under the Indenture (including any Additional Notes)
at a redemption price of       % of the principal amount thereof, plus accrued and unpaid interest to the
redemption date, with the net cash proceeds of one or more Equity Offerings; provided that (A) at
least 65% of the aggregate principal amount of Notes issued under the Indenture (including any
Additional Notes) remains outstanding immediately after the occurrence of such redemption
(excluding Notes held by the Company and its Affiliates); and (B) the redemption must occur within
180 days of the date of the closing of such Equity Offering.

          (c) At any time prior to       , the Company may redeem all or part of the Notes upon not less than
30 days’ nor more than 60 days’ prior notice at a redemption price equal to the sum of (i) 100% of
the principal amount thereof, plus (ii) the Applicable Premium as of the date of redemption, plus
(iii) accrued and unpaid interest to the date of redemption.

          6. Repurchase at Option of Holder. (a) If a Change of Control occurs, each Holder of Notes
shall have the right to require the Company to repurchase all or any part (equal to $2,000 or an
integral multiple of $1,000 in excess thereof) of that Holder’s Notes pursuant to an offer by the
Company (a “Change of Control Offer”). In the Change of Control Offer, the Company shall offer
payment (a “Change of Control Payment”) in cash of 101% of the aggregate principal amount of Notes
repurchased plus accrued and unpaid interest thereon, to the date of repurchase (the “Change of
Control Payment Date,” which date shall be no earlier than the date of such Change of Control). No
later than 30 days following any Change of Control, the

A1-4

 

Company shall mail a notice to each Holder describing the transaction or transactions that
constitute the Change of Control and offering to repurchase Notes on the Change of Control Payment
Date specified in such notice, which date shall be no earlier than 30 days and no later than 60
days from the date such notice is mailed, pursuant to the procedures required by the Indenture and
described in such notice.

          (b) Within 365 days after the receipt of any Net Proceeds from an Asset Sale, the Parent or
its Restricted Subsidiaries may apply such Net Proceeds at its option: (1) to repay, prepay,
defease, redeem, purchase or otherwise retire, in whole or in part, (i) Indebtedness secured by
such assets; (ii) unsubordinated Indebtedness of the Company or any Subsidiary Guarantor or
(iii) any Indebtedness of any Restricted Subsidiary of the Parent that is not a Subsidiary
Guarantor or the Company, other than Indebtedness owed to the Parent or another Restricted
Subsidiary and, in each case, if the Indebtedness repaid is revolving credit Indebtedness to
correspondingly reduce commitments with respect thereto; or (2) to purchase Replacement Assets (or
enter into a binding agreement to purchase such Replacement Assets; provided that (i) such purchase
is consummated within the later of (x) 180 days after the date such binding agreement is entered
into and (y) 365 days after the receipt of Net Proceeds from such Asset Sale and (ii) if such
purchase is not consummated within the period set forth in subclause (i), the Net Proceeds not so
applied shall be deemed to be Excess Proceeds (as defined below)). Pending the final applications
of any such Net Proceeds, the Parent or any of its Restricted Subsidiaries may temporarily reduce
revolving credit borrowings or otherwise invest such Net Proceeds in any manner that is not
prohibited by the Indenture.

          On the 365th day after an Asset Sale (or, in the event that a binding agreement has
been entered into as set forth in clause (2) of the preceding paragraph, the later date set forth
in such clause (2)) or such earlier date, if any, as the Parent determines not to apply the Net
Proceeds relating to such Asset Sale set forth in the preceding paragraph (each such date being
referred as an “Excess Proceeds Trigger Date”), such aggregate amount of Net Proceeds that has not
been applied on or before the Excess Proceeds Trigger Date as permitted in the preceding paragraph
(“Excess Proceeds”) will be applied by the Company to make an offer (an “Asset Sale Offer”) to all
Holders of Notes and all holders of other Indebtedness that is pari passu with the Notes or any
Note Guarantee containing provisions similar to those set forth in the Indenture with respect to
offers to purchase with the proceeds of sales of assets, to purchase the maximum principal amount
of Notes and such other pari passu Indebtedness that may be purchased out of the Excess Proceeds.
The offer price in any Asset Sale Offer shall be equal to 100% of the principal amount of the Notes
and such other pari passu Indebtedness plus accrued and unpaid interest to the date of purchase,
and shall be payable in cash.

          The Company may defer the Asset Sale Offer until the aggregate unutilized Excess Proceeds
accrued equals or exceeds $100.0 million, at which time the entire unutilized amount of Excess
Proceeds (not only the amount in excess of $100.0 million) will be applied as provided in the
preceding paragraph. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the
Parent and its Restricted Subsidiaries may use such Excess Proceeds for any purpose not otherwise
prohibited by the Indenture. If the aggregate principal amount of Notes and such other pari passu
Indebtedness tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Notes
and such other pari passu Indebtedness will be purchased on a pro rata basis based on the principal
amount of Notes and such other pari passu

A1-5

 

Indebtedness tendered. Upon completion of each Asset Sale Offer, the Excess Proceeds subject
to such Asset Sale will no longer be deemed to be Excess Proceeds.

          The Company shall not be required to make an Asset Sale Offer as provided in Section 4.10 of
the Indenture if the Parent or any of its Restricted Subsidiaries makes the Asset Sale Offer in the
manner, at the times and otherwise in compliance with the requirements set forth in the Indenture
applicable to an Asset Sale Offer made by the Company and purchases all Notes properly tendered and
not withdrawn under such Asset Sale Offer.

          7. Denominations, Transfer, Exchange. The Notes are in registered form without coupons in
denominations of $2,000 and integral multiples of $1,000 in excess thereof; provided that Notes may
be issuable in denominations less than $1,000 solely to the extent necessary to accommodate
book-entry positions created in such amounts by The Depository Trust Company. The transfer of
Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and
the Trustee may require a Holder, among other things, to furnish appropriate endorsements and
transfer documents and the Company may require a Holder to pay any taxes and fees required by law
or permitted by the Indenture. The Company is not required to transfer or exchange any Note
selected for redemption. Also, the Company is not required to transfer or exchange any Note for a
period of 15 days before a selection of Notes to be redeemed. Transfer may be restricted as
provided in the Indenture.

          8. Persons Deemed Owners. The registered Holder of a Note shall be treated as its owner for
all purposes.

          9. Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture or the
Notes may be amended or supplemented with the consent of the Holders of at least a majority in
principal amount of the then outstanding Notes (including, without limitation, consents obtained in
connection with a purchase of, or tender offer or exchange offer for, the Notes), and any existing
default or compliance with any provision of the Indenture or the Notes may be waived with the
consent of the Holders of a majority in principal amount of the then outstanding Notes (including,
without limitation, consents obtained in connection with a purchase of, or tender offer or exchange
offer for, the Notes). Without the consent of any Holder of a Note, the Indenture or the Notes may
be amended or supplemented to, among other things, cure any ambiguity, defect or inconsistency, or
to make any change that does not adversely affect the legal rights under the Indenture of any such
Holder.

          10. Defaults and Remedies. In the case of an Event of Default arising from certain events of
bankruptcy or insolvency, with respect to the Parent, the Company, or any Significant Subsidiary of
the Parent all outstanding Notes shall become due and payable immediately without further action or
notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at
least 25% in principal amount of the then outstanding Notes may declare all the Notes to be due and
payable immediately by notice in writing to the Company specifying the Event of Default. Holders
of the Notes may not enforce the Indenture or the Notes except as provided in the Indenture.
Subject to certain limitations, Holders of a majority in aggregate principal amount of the then
outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may
withhold from Holders of the Notes notice of any Default or Event of Default (except a Default or
Event of Default relating to the payment of

A1-6

 

principal, premium, interest) if it determines that withholding notice is in their interest.
Holders of a majority in aggregate principal amount of the then outstanding Notes by notice to the
Trustee may, on behalf of the Holders of all of the Notes, rescind and annul a declaration of
acceleration pursuant to Section 6.02 of the Indenture, and its consequences, and waive any related
existing Default or Event of Default if certain conditions are satisfied.

          11. Trustee Dealings with Company. The Trustee, in its individual or any other capacity, may
make loans to, accept deposits from, and perform services for the Company or its Affiliates, and
may otherwise deal with the Company or its Affiliates, as if it were not the Trustee.

          12. No Recourse Against Others. No director, officer, employee, incorporator or stockholder
of the Company or any Guarantor, as such, shall have any liability for any obligations of the
Company or the Guarantors under the Notes, the Indenture, the Note Guarantees or for any claim
based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes
by accepting a Note waives and releases all such liability. The waiver and release are part of the
consideration for issuance of the Notes. The waiver may not be effective to waive liabilities
under the federal securities laws.

          13. Authentication. This Note shall not be valid until authenticated by the manual signature
of the Trustee or an authenticating agent.

          14. CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes
and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No
representation is made as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption and reliance may be placed only on the other identification
numbers placed thereon.

          15. Guarantee. The Company’s obligations under the Notes are fully and unconditionally
guaranteed, jointly and severally, by the Guarantors.

          16. Copies of Documents. The Company shall furnish to any Holder upon written request and
without charge a copy of the Indenture. Requests may be made to:

NII Capital Corp.

c/o NII Holdings, Inc.

1875 Explorer Street, Suite 1000

Reston, Virginia 20190

Facsimile: 703-390-5191

Attention: Secretary

A1-7

 

ASSIGNMENT FORM

To assign this Note, fill in the form below:

	 	 	 

	(I) or (we) assign and transfer this Note to:
	 	 
	 

	 	 
	 

	 	(Insert assignee’s legal name)

 

(Insert assignee’s soc. sec. or tax I.D. no.)

 

 

 

 

(Print or type assignee’s name, address and zip code)

	 	 	 

	and irrevocably appoint
	 	 
	 

	 	 

to transfer this Note on the books of the Company. The agent may substitute another to
act for him.

Date:                     

	 	 	 

	Your Signature:
	 	 
	 

	 	 
	 

	 	(Sign exactly as your name appears on the face of this Note)

Signature Guarantee*:          
          
                    
             
       

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

A1-8

 

OPTION OF HOLDER TO ELECT PURCHASE

     If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or
4.14 of the Indenture, check the appropriate box below:

o Section 4.10                    o Section 4.14

     If you want to elect to have only part of the Note purchased by the Company pursuant to
Section 4.10 or Section 4.14 of the Indenture, state the amount you elect to have purchased:

$                                        

Date:                     

	 	 	 

	Your Signature:
	 	 
	 

	 	 
	 

	 	(Sign exactly as your name appears on the face of this Note)

	 	 	 

	Tax Identification No.:
	 	 
	 

	 	 

Signature Guarantee*:                                         

 

			
	*	 	Participant in a recognized Signature Guarantee Medallion Program (or other signature
guarantor acceptable to the Trustee).

A1-9

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

     The following exchanges of a part of this Global Note for an interest in another Global Note
or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an
interest in this Global Note, have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount at	 	 
	 	 	 	 	 	 	Maturity of this	 	 
	 	 	Amount of Decrease	 	Amount of Increase	 	Global Note	 	Signature of
	 	 	in Principal Amount	 	in Principal Amount	 	Following such	 	Authorized Officer
	 	 	at Maturity of this	 	at Maturity of this	 	decrease (or	 	of Trustee or Note
	Date of Exchange	 	Global Note	 	Global Note	 	increase)	 	Custodian
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 
	 	 
	 	 
	 	 

A1-10

 

EXHIBIT B

FORM OF NOTATION OF GUARANTEE

          For value received, each Guarantor (which term includes any successor Person under the
Indenture) has, jointly and severally, unconditionally guaranteed, to the extent set forth in the
Indenture and subject to the provisions in the Indenture dated as of       (the “Indenture”) among NII
Capital Corp., the other Guarantors (as defined in the Indenture) and Wilmington Trust Company, as
trustee (the “Trustee”), (a) the due and punctual payment of the principal of, premium, if any, and
interest on the Notes (as defined in the Indenture), whether at maturity, by acceleration,
redemption or otherwise, and the due and punctual payment of interest on overdue principal of,
premium, if any, and interest on the Notes, if lawful (subject in all cases to any applicable grace
period provided herein), and the due and punctual performance of all other obligations of the
Company to the Holders or the Trustee all in accordance with the terms of the Indenture and the
Notes and (b) in case of any extension of time of payment or renewal of any Notes or any of such
other obligations, the same will be promptly paid in full when due or performed in accordance with
the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise.
The obligations of the Guarantors to the Holders of Notes and to the Trustee pursuant to the Note
Guarantee and the Indenture are expressly set forth in Article Ten of the Indenture and reference
is hereby made to the Indenture for the precise terms of the Note Guarantee. Each Holder of a
Note, by accepting the same, (a) agrees to and shall be bound by such provisions and (b) appoints
the Trustee attorney-in-fact of such Holder for such purpose.

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          IN WITNESS HEREOF, each Guarantor has caused this Notation of Guarantee to be signed manually
or by facsimile by its duly authorized officer.

	 	 	 	 	 	 	 

	 	 	[NAME OF GUARANTOR]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

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EXHIBIT C

FORM OF SUPPLEMENTAL INDENTURE

TO BE DELIVERED BY SUBSEQUENT GUARANTORS

          Supplemental Indenture (this “Supplemental Indenture”), dated as of _____________, among
__________________ (the “Guaranteeing Subsidiary”), a subsidiary of NII Capital Corp. (or its
permitted successor), a Delaware corporation (the “Company”), and Wilmington Trust Company, (or its
permitted successor), as trustee under the Indenture referred to below (the “Trustee”).

W I T N E S S E T H

          WHEREAS, the Company and the other Guarantors party thereto have heretofore executed and
delivered to the Trustee an indenture (the “Indenture”), dated as of       providing for the issuance of
      % Senior Notes due       (the “Notes”);

          WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary
shall execute and deliver to the Trustee a supplemental indenture pursuant to which the
Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s obligations under the
Notes and the Indenture on the terms and conditions set forth herein (the “Note Guarantee”); and

          WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and
deliver this Supplemental Indenture.

          NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the
Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes
as follows:

          1. Capitalized Terms. Capitalized terms used herein without definition shall have the
meanings assigned to them in the Indenture.

          2. Agreement to Guarantee.

          (a) In accordance with the terms of Article Ten of the Indenture, the Guaranteeing Subsidiary,
along with all other Guarantors, jointly and severally, and fully and unconditionally, guarantees
to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its
successors and assigns, irrespective of the validity and enforceability of the Indenture, the Notes
or the obligations of the Company hereunder or thereunder, that:

          (i) the principal of, premium, if any, and interest on the Notes will be promptly paid in full
when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the
overdue principal of, premium, if any, and interest on the Notes, if lawful (subject in all cases
to any applicable grace period provided herein), and all other obligations of the Company to the
Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in
accordance with the terms hereof and thereof;

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          (ii) in case of any extension of time of payment or renewal of any Notes or any of such other
obligations, the same will be promptly paid in full when due or performed in accordance with the
terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise.
Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever
reason, the Guarantors shall be jointly and severally obligated to pay the same immediately. The
Guaranteeing Subsidiary agrees that this is a guarantee of payment and not a guarantee of
collection.

          (b) The Guaranteeing Subsidiary hereby agrees that, to the maximum extent permitted under
applicable law, its obligations hereunder shall be unconditional, irrespective of the validity,
regularity or enforceability of the Notes or the Indenture, the absence of any action to enforce
the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or
thereof, the recovery of any judgment against the Company, any action to enforce the same or any
other circumstance that might otherwise constitute a legal or equitable discharge or defense of a
Guarantor.

          (c) The Guaranteeing Subsidiary, subject to Section 6.06 of the Indenture, hereby waives
diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency
or bankruptcy of the Company, any right to require a proceeding first against the Company, protest,
notice and all demands whatsoever and covenants that this Note Guarantee shall not be discharged
except by complete performance of the obligations contained in the Notes and the Indenture.

          (d) The Guaranteeing Subsidiary agrees that if any Holder or the Trustee is required by any
court or otherwise to return to the Company, the Guarantors, or any custodian, trustee, liquidator
or other similar official acting in relation to any of the Company or the Guarantors, any amount
paid by any of them to the Trustee or such Holder, this Note Guarantee, to the extent theretofore
discharged, shall be reinstated in full force and effect.

          (e) The Guaranteeing Subsidiary agrees that the Guaranteeing Subsidiary shall not be entitled
to any right of subrogation in relation to the Holders in respect of any obligations guaranteed
hereby until payment in full of all obligations guaranteed hereby.

          (f) The Guaranteeing Subsidiary agrees that, as between the Guarantors, on the one hand, and
the Holders and the Trustee, on the other hand, (x) the maturity of the obligations guaranteed
hereby may be accelerated as provided in Article Six of the Indenture for the purposes of this Note
Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration
in respect of the obligations guaranteed hereby, and (y) in the event of any declaration of
acceleration of such obligations as provided in Article Six of the Indenture, such obligations
(whether or not due and payable) shall forthwith become due and payable by the Guarantors for the
purpose of this Note Guarantee.

          (g) The Guaranteeing Subsidiary shall have the right to seek contribution from any non-paying
Guarantor so long as the exercise of such right does not impair the rights of Holders under the
Note Guarantee.

C-2

 

          (h) The Guaranteeing Subsidiary confirms, pursuant to Section 10.02 of the Indenture, that it
is the intention of such Guaranteeing Subsidiary that its Note Guarantee not constitute a
fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance
Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent
applicable to its Note Guarantee and, to effectuate the foregoing intention, hereby irrevocably
agrees that the obligations of such Guaranteeing Subsidiary will be limited to the maximum amount
as will, after giving effect to all other contingent and fixed liabilities of such Guaranteeing
Subsidiary that are relevant under such laws, and after giving effect to any collections from,
rights to receive contribution from or payments made by or on behalf of any other Guarantor in
respect of the obligations of such other Guarantor under Article Ten of the Indenture, result in
the obligations of such Guaranteeing Subsidiary under its Note Guarantee not constituting a
fraudulent transfer or conveyance.

          3. Execution and Delivery. The Guaranteeing Subsidiary agrees that the Note
Guarantees shall remain in full force and effect notwithstanding any failure to endorse on each
Note a notation of such Note Guarantee.

          4. Guaranteeing Subsidiary May Consolidate, Etc., on Certain Terms.

          (a) A Guarantor may not sell or otherwise dispose of all or substantially all of its assets,
or consolidate with or merge with or into (whether or not such Guarantor is the surviving Person)
another Person, other than the Company or another Guarantor, unless:

     (i) immediately after giving effect to that transaction, no Default or Event of Default
exists; and

     (ii) either:

     (A) the Person acquiring the property in any such sale or disposition or the
Person formed by or surviving any such consolidation or merger (if other than the
Guarantor) is a corporation or limited liability company organized or existing under
the laws of the United States, any state thereof or the District of Columbia and
assumes all the obligations of that Guarantor under the Indenture and its Note
Guarantee pursuant to a supplemental indenture reasonably satisfactory to the
Trustee; or

     (B) such sale or other disposition or consolidation or merger complies with
Section 4.10 of the Indenture.

          (b) In case of any such consolidation, merger, sale or conveyance governed by
Section 4(a)(ii)(A) hereof and upon the assumption by the successor Person, by supplemental
indenture, executed and delivered to the Trustee and reasonably satisfactory in form to the
Trustee, of the Note Guarantee endorsed upon the Notes and the due and punctual performance of all
of the covenants and conditions of the Indenture to be performed by a Guarantor, such successor
Person shall succeed to and be substituted for a Guarantor with the same effect as if it had been
named herein as a Guarantor. Such successor Person thereupon may cause to be signed any or all of
the Note Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore shall
not have been signed by the Company and delivered to the Trustee. All the

C-3

 

Note Guarantees so issued shall in all respects have the same legal rank and benefit under the
Indenture as the Note Guarantees theretofore and thereafter issued in accordance with the terms of
the Indenture as though all of such Note Guarantees had been issued at the date of the execution
hereof.

          5. Release.

          (a) Any Guarantor will be released and relieved of any obligations under its Note Guarantee,
(i) in connection with any sale or other disposition of all of the Capital Stock of that Guarantor
to a Person that is not (either before or after giving effect to such transaction) an Affiliate of
the Company, if the sale of all such Capital Stock of that Guarantor complies with Section 4.10 of
the Indenture; (ii) if the Company properly designates that Guarantor as an Unrestricted Subsidiary
under the Indenture; (iii) upon legal or covenant defeasance or satisfaction and discharge of the
Notes as permitted under the Indenture; (iv) other than with respect to Domestic Restricted
Subsidiaries, solely in the case of a Note Guarantee created pursuant to Section 4.18(b) of the
Indenture, upon release or discharge of the Guarantee which resulted in the creation of such Note
Guarantee pursuant to Section 4.18(b) of the Indenture, except a discharge or release by or as a
result of payment under such Guarantee; or (v) if such Subsidiary Guarantor becomes a Foreign
Restricted Subsidiary by merger, consolidation or otherwise, unless such Foreign Restricted
Subsidiary (i) is a First Tier Restricted Subsidiary or (ii) is required to Guarantee the Notes and
be a Subsidiary Guarantor pursuant to Section 4.18(b) of the Indenture. Upon delivery by the
Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect that one
of the foregoing requirements has been satisfied and the conditions to the release of a Guarantor
under this Section 5 have been satisfied, the Trustee shall execute any documents reasonably
required in order to evidence the release of such Guarantor from its obligations under its Note
Guarantee.

          (b) Any Guarantor not released from its obligations under its Note Guarantee shall remain
liable for the full amount of principal of and interest on the Notes and for the other obligations
of any Guarantor under the Indenture as provided in Article Ten of the Indenture.

          6. No Recourse Against Others. Pursuant to Section 12.07 of the Indenture, no
director, officer, employee, incorporator or stockholder of the Guaranteeing Subsidiary shall have
any liability for any obligations of such Guaranteeing Subsidiary under the Notes, the Indenture,
the Note Guarantees or for any claim based on, in respect of, or by reason of, such obligations or
their creation.

          7. NEW YORK LAW TO GOVERN. THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED
TO CONSTRUE THIS SUPPLEMENTAL INDENTURE.

          8. Counterparts. The parties may sign any number of copies of this Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement.

          9. Effect of Headings. The Section headings herein are for convenience only and shall
not affect the construction hereof.

C-4

 

          10. Trustee. The Trustee shall not be responsible in any manner whatsoever for or in
respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the
recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and
the Company.

C-5

 

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

Dated: _______________, ____

	 	 	 	 	 	 	 

	 	 	[Guaranteeing Subsidiary]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	NII CAPITAL CORP.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	Wilmington Trust Company, N.A.,	 	 
	 	 	as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 

C-6

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