Document:

<PAGE>
                                                                 EXHIBIT 4.3.2

                        AMENDED AND RESTATED DECLARATION

                                    OF TRUST

                              SUNTRUST CAPITAL ___

                          DATED AS OF ________________
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                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                   Page
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<S>               <C>                                                                                              <C>
                                              ARTICLE I INTERPRETATION AND DEFINITIONS

SECTION 1.1.      Definitions...............................................................................          1

                                                   ARTICLE II TRUST INDENTURE ACT

SECTION 2.1.      Trust Indenture Act; Application..........................................................          8
SECTION 2.2.      Lists of Holders of Securities............................................................          9
SECTION 2.3.      Reports by the Institutional Trustee......................................................          9
SECTION 2.4.      Periodic Reports to the Institutional Trustee.............................................          9
SECTION 2.5.      Evidence of Compliance with Conditions Precedent..........................................          9
SECTION 2.6.      Events of Default; Waiver.................................................................         10
SECTION 2.7.      Event of Default; Notice..................................................................         12

                                                      ARTICLE III ORGANIZATION

SECTION 3.1.      Name......................................................................................         12
SECTION 3.2.      Office....................................................................................         13
SECTION 3.3.      Issuance of the Securities................................................................         13
SECTION 3.4.      Purchase of Debentures....................................................................         13
SECTION 3.5.      Purpose...................................................................................         13
SECTION 3.6.      Authority.................................................................................         14
SECTION 3.7.      Title to Property of the Trust............................................................         14
SECTION 3.8.      Powers and Duties of the Regular Trustees.................................................         14
SECTION 3.9.      Prohibition of Actions by the Trust and the Trustees......................................         17
SECTION 3.10.     Powers and Duties of the Institutional Trustee............................................         17
SECTION 3.11.     Certain Duties and Responsibilities of the Institutional Trustee..........................         20
SECTION 3.12.     Certain Rights of the Institutional Trustee...............................................         21
SECTION 3.13.     Delaware Trustee..........................................................................         23
SECTION 3.14.     Execution of Documents....................................................................         23
SECTION 3.15.     Not Responsible for Recitals or Issuance of Securities....................................         23
SECTION 3.16.     Duration of Trust.........................................................................         24
SECTION 3.17.     Mergers...................................................................................         24

                                                          ARTICLE IV SPONSOR

SECTION 4.1.      Sponsor's Purchase of Common Securities...................................................         25
SECTION 4.2.      Responsibilities of the Sponsor...........................................................         25
SECTION 4.3.      Right to Proceed..........................................................................         26

                                                         ARTICLE V TRUSTEES

SECTION 5.1.      Number of Trustees........................................................................         26
SECTION 5.2.      Delaware Trustee..........................................................................         27
SECTION 5.3.      Institutional Trustee; Eligibility........................................................         27
SECTION 5.4.      Certain Qualifications of Regular Trustees and Delaware Trustee Generally.................         28
</TABLE>

                                       i
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<TABLE>
<S>               <C>                                                                                                <C>
SECTION 5.5.      Regular Trustees..........................................................................         28
SECTION 5.6.      [Reserved]................................................................................         28
SECTION 5.7.      Appointment, Removal and Resignation of Trustees..........................................         28
SECTION 5.8.      Vacancies among Trustees..................................................................         30
SECTION 5.9.      Effect of Vacancies.......................................................................         30
SECTION 5.10.     Meetings..................................................................................         30
SECTION 5.11.     Delegation of Power.......................................................................         31
SECTION 5.12.     Merger, Conversion, Consolidation or Succession to Business...............................         31
SECTION 5.13.     Appointment of Authenticating Agent.......................................................         31

                                                         ARTICLE VI DISTRIBUTIONS

SECTION 6.1.      Distributions..............................................................................        33

                                                   ARTICLE VII ISSUANCE OF SECURITIES

SECTION 7.1.      General Provisions Regarding Securities....................................................        33
SECTION 7.2.      Execution and Delivery of Securities Certificates..........................................        34
SECTION 7.3.      Paying Agent...............................................................................        34

                                                     ARTICLE VIII DISSOLUTION OF TRUST

SECTION 8.1.      Dissolution of Trust.......................................................................        35

                                                      ARTICLE IX TRANSFER OF INTERESTS

SECTION 9.1.      Transfer of Securities.....................................................................        36
SECTION 9.2.      Transfer of Certificates...................................................................        36
SECTION 9.3.      Deemed Security Holders....................................................................        37
SECTION 9.4.      Book-Entry Interests.......................................................................        37
SECTION 9.5.      Notices to Clearing Agency.................................................................        38
SECTION 9.6.      Appointment of Successor Clearing Agency...................................................        38
SECTION 9.7.      Definitive Preferred Security Certificates.................................................        39
SECTION 9.8.      Mutilated, Destroyed, Lost or Stolen Certificates..........................................        39
SECTION 9.9.      Maintenance of Office or Agency............................................................        40

                               ARTICLE X LIMITATION OF LIABILITY OF HOLDERS OF SECURITIES, TRUSTEES OR OTHERS

SECTION 10.1.     Liability..................................................................................        40
SECTION 10.2.     Exculpation................................................................................        41
SECTION 10.3.     [Reserved].................................................................................        41
SECTION 10.4.     Indemnification............................................................................        41
SECTION 10.5.     Outside Businesses.........................................................................        43
SECTION 10.6.     Compensation; Fees.........................................................................        44

                                                        ARTICLE XI ACCOUNTING

SECTION 11.1.     Fiscal Year................................................................................        44
SECTION 11.2.     Certain Accounting Matters.................................................................        44
SECTION 11.3.     Banking....................................................................................        45
SECTION 11.4.     Withholding................................................................................        45
</TABLE>

                                       ii
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<TABLE>
<S>               <C>                                                                                                <C>
                                                ARTICLE XII AMENDMENTS AND MEETINGS
SECTION 12.1.     Amendments................................................................................         46
SECTION 12.2.     Meetings of the Holders; Action by Written Consent........................................         47

                  ARTICLE XIII REPRESENTATIONS AND WARRANTIES OF INSTITUTIONAL TRUSTEE AND DELAWARE TRUSTEE

SECTION 13.1.     Representations and Warranties of the Institutional Trustee...............................         49
SECTION 13.2.     Representations and Warranties of the Delaware Trustee....................................         49

                                                     ARTICLE XIV MISCELLANEOUS

SECTION 14.1.     Notices...................................................................................         50
SECTION 14.2.     Governing Law.............................................................................         51
SECTION 14.3.     Intention of the Parties..................................................................         52
SECTION 14.4.     Headings..................................................................................         52
SECTION 14.5.     Successors and Assigns....................................................................         52
SECTION 14.6.     Partial Enforceability....................................................................         52
SECTION 14.7.     Counterparts..............................................................................         52

ANNEX I           TERMS OF SECURITIES.......................................................................        I-1
EXHIBIT A-1       FORM OF PREFERRED SECURITY CERTIFICATE....................................................       A1-1
EXHIBIT A-2       FORM OF COMMON SECURITY CERTIFICATE................................................ ......       A2-1
</TABLE>

                                      iii
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                             CROSS-REFERENCE TABLE*

<TABLE>
<CAPTION>
   Section of
Trust Indenture Act                                                             Section of
of 1939, as amended                                                             Declaration
-------------------                                                             -----------
<S>                                                                             <C>
310(a)........................................................................    5.3(a)
310(b)........................................................................    5.3(c)
310(c)........................................................................    Inapplicable
311(a) and (b)................................................................    5.3(c)
311(c)........................................................................    Inapplicable
312(a)........................................................................    2.2(a)
312(b)........................................................................    2.2(b)
313...........................................................................    2.3
314(a)........................................................................    2.4
314(b)........................................................................    Inapplicable
314(c)........................................................................    2.5
314(d)........................................................................    Inapplicable
314(e)........................................................................    3.12(a)
314(f)........................................................................    Inapplicable
315(a)........................................................................    3.11(b)
315(b)........................................................................    2.7(a)
315(c)........................................................................    3.11(a)
315(d)........................................................................    3.11(a)
316(a) and (b)................................................................    2.6 and Annex I
316(c)........................................................................    2.6(f)
317(a)........................................................................    3.10(c)
317(b)........................................................................    3.10(i)
</TABLE>

--------------

*        This Cross-Reference Table does not constitute part of this Declaration
         as executed and shall not affect the interpretation of any of its terms
         or provisions.

                                       iv
<PAGE>

                              AMENDED AND RESTATED
                              DECLARATION OF TRUST
                                       OF
                              SUNTRUST CAPITAL ___

                  AMENDED AND RESTATED DECLARATION OF TRUST ("Declaration")
dated and effective as of _____________, by the Trustees (as defined herein),
the Sponsor (as defined herein) and by the holders, from time to time, of
undivided beneficial ownership interests in SunTrust Capital ___ (the "Trust"),
a statutory business trust under the Business Trust Act (as defined herein), to
be issued pursuant to this Declaration;

                  WHEREAS, the Trustees and the Sponsor established the Trust
pursuant to a Declaration of Trust dated November __, 2001 (the "Original
Declaration"), and a Certificate of Trust filed with the Secretary of State of
the State of Delaware on November __, 2001 (the "Certificate of Trust"), for the
principal purposes of issuing and selling the Securities (as defined herein) and
investing the proceeds thereof in certain Debentures (as defined herein) of the
Debenture Issuer (as defined herein);

                  WHEREAS, as of the date hereof, no Securities have been
issued; and

                  WHEREAS, all of the Trustees and the Sponsor, by this
Declaration, amend and restate each and every term and provision of the Original
Declaration.

                  NOW, THEREFORE, it being the intention of the parties hereto
to continue the Trust as a business trust under the Business Trust Act, that the
Original Declaration be amended and restated in its entirety as provided herein
and that this Declaration constitute the governing instrument of such business
trust, the Trustees declare that all assets contributed to the Trust will be
held in trust for the benefit of the holders, from time to time, of the
Securities, subject to the provisions of this Declaration.

                                   ARTICLE I

                         INTERPRETATION AND DEFINITIONS

SECTION 1.1. Definitions.

                  Unless the context otherwise requires:

                  (a)      Capitalized terms used in this Declaration but not
         defined in the preamble above have the respective meanings assigned to
         them in this Section 1.1;

                  (b)      a term defined anywhere in this Declaration has the
         same meaning throughout;
<PAGE>

                  (c)      all references to "the Declaration" or "this
         Declaration" are to this Declaration as modified, supplemented or
         amended from time to time;

                  (d)      all references in this Declaration to Articles and
         Sections and Annexes and Exhibits are to Articles and Sections of and
         Annexes and Exhibits to this Declaration unless otherwise specified;

                  (e)      a term defined in the Trust Indenture Act has the
         same meaning when used in this Declaration unless otherwise defined in
         this Declaration or unless the context otherwise requires;

                  (f)      a reference to the singular includes the plural and
         vice versa; and

                  (g)      the following terms have the meaning given to them in
         this Section 1.1(g):

                  "10% in liquidation amount of the Securities" means, except as
provided in the terms of the Preferred Securities or by the Trust Indenture Act,
Holder(s) of outstanding Securities voting together as a single class or, as the
context may require, Holders of outstanding Preferred Securities or Holders of
outstanding Common Securities voting separately as a class, who are the record
owners of 10% or more of the aggregate liquidation amount (including the stated
amount that would be paid on redemption, liquidation or otherwise, plus accrued
and unpaid Distributions to the date upon which the voting percentages are
determined) of all outstanding Securities of the relevant class.

                  "Affiliate" has the same meaning as given to that term in Rule
405 of the Securities Act or any successor rule thereunder.

                  "Authorized Officer" of a Person means any Person that is
authorized to bind such Person.

                  "Base Indenture" means the Indenture dated as of November __,
2001, between the Debenture Issuer and the Debt Trustee.

                  "Book-Entry Interest" means a beneficial ownership interest in
a Global Certificate registered in the name of a Clearing Agency or a nominee
thereof, ownership and transfers of which shall be maintained and made through
book entries by a Clearing Agency as described in Section 9.4.

                  "Business Day" means a day other than (i) a day on which
banking institutions in New York, New York or Chicago, Illinois are authorized
or required by law or executive order to remain closed or (ii) a day on which
the Institutional Trustee's Corporate Trust Office or the Corporate Trust Office
of the Debt Trustee is closed for business.

                  "Business Trust Act" means Chapter 38 of Title 12 of the
Delaware Code, 12 Del. C. Section 3801 et seq., as it may be amended from time
to time, or any successor legislation.

                  "Capital Treatment Event" means the reasonable determination
by the Sponsor that, as a result of (i) any amendment to, or change (including
any announced proposed change) in, the laws or regulations of the United States
or any political subdivision thereof or therein or other governmental agency or
regulatory authority, or (ii) any official administrative pronouncement or

                                       2
<PAGE>

action or judicial decision interpreting or applying such laws or regulations,
which, in the case of either clause (i) or (ii) is effective or is announced on
or after _________________, there is more than an insubstantial risk that the
Sponsor will not be entitled to treat an amount equal to the liquidation amount
of the Preferred Securities as "Tier 1 Capital" (or the then equivalent thereof)
under the risk-based capital adequacy guidelines of the Federal Reserve Board,
as then in effect and applicable to the Sponsor.

                  "Certificate" means a Common Security Certificate or a
Preferred Security Certificate.

                  "Clearing Agency" means an organization registered as a
"Clearing Agency" pursuant to Section 17A of the Exchange Act that is acting as
depositary for the Preferred Securities and in whose name or in the name of a
nominee of that organization shall be registered a Global Certificate and which
shall undertake to effect book-entry transfers and pledges of the Preferred
Securities.

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

                  "Closing Date" means _________________.

                  "Code" means the Internal Revenue Code of 1986, as amended
from time to time, or any successor legislation. A reference to a specific
section of the Code refers not only to such specific section but also to any
corresponding provision of any Federal tax statute enacted after the date of
this Declaration, as such specific section or corresponding provision is in
effect on the date of application of the provisions of this Declaration
containing such reference.

                  "Commission" means the Securities and Exchange Commission or
any successor body.

                  "Common Securities" has the meaning specified in Section
7.1.(a).

                  "Common Securities Guarantee" means the guarantee agreement to
be dated as of _________________ of the Sponsor in respect of the Common
Securities.

                  "Common Security Certificate" means a definitive certificate
in fully registered form representing a Common Security substantially in the
form of Exhibit A-2.

                  "Corporate Trust Office" means (i) when used with respect to
the Institutional Trustee, the principal corporate trust office the
Institutional Trustee located in New York, New York which on the date of this
Declaration is 153 West 51st Street, New York, New York 10019 - Attention:
Corporate Trust Administration, and (ii) when used with respect to the Debt
Trustee, the Principal Office of the Debt Trustee as defined in the Base
Indenture.

                  "Covered Person" means: (i) any officer, director,
shareholder, partner, member, representative, employee or agent of the Trust or
the Trust's Affiliates; (ii) any other director, stockholder, employee,
representative or agent of the Debenture Issuer or any of its Affiliates; and
(iii) any Holder of Securities.

                                       3
<PAGE>

                  "Debenture Issuer" means SunTrust Banks, Inc., a Georgia
corporation, or any successor entity resulting from any consolidation,
amalgamation, merger or other business combination.

                  "Debentures" means the series of Debentures to be issued by
the Debenture Issuer under the Indenture and purchased by the Trust, and to be
held by the Institutional Trustee.

                  "Debt Trustee" means Bank One, N.A., a national banking
association formerly known as The First National Bank of Chicago, as trustee
under the Indenture until a successor is appointed thereunder, and thereafter
means such successor trustee.

                  "Definitive Preferred Security Certificates" has the meaning
set forth in Section 9.4.

                  "Delaware Trustee" has the meaning set forth in Section 5.2.

                  "Direct Action" has the meaning set forth in Section 3.10(e).

                  "Dissolution Event" has the meaning set forth in Section
8.1(a).

                  "Distribution" has the meaning set forth in Section 6.1.

                  "DTC" means The Depository Trust Company, the initial Clearing
Agency.

                  "Event of Default" or "Declaration Event of Default" in
respect of the Securities means an Event of Default (as defined in the Base
Indenture) has occurred and is continuing in respect of the Debentures.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended from time to time, or any successor legislation.

                  "Federal Reserve Board" means the Board of Governors of the
Federal Reserve System.

                  "Fiduciary Indemnified Person" has the meaning set forth in
Section 10.4(b).

                  "Fiscal Year" has the meaning set forth in Section 11.1.

                  "Global Certificate" has the meaning set forth in Section 9.4.

                  "Holder" means a Person in whose name a Certificate
representing a Security is registered, such Person being a beneficial owner
within the meaning of the Business Trust Act.

                  "Indemnified Person" means a Sponsor Indemnified Person or a
Fiduciary Indemnified Person.

                  "Indenture" means the Base Indenture together with the
supplement thereto pursuant to which the Debentures are to be issued.

                                       4
<PAGE>

                  "Institutional Trustee" means the Trustee meeting the
eligibility requirements set forth in Section 5.3(a). The initial Institutional
Trustee shall be Bank One, N.A., as set forth in Section 5.3(e).

                  "Investment Company" means an investment company as defined in
the Investment Company Act.

                  "Investment Company Act" means the Investment Company Act of
1940, as amended from time to time, or any successor legislation.

                  "Investment Company Event" means that the Trust shall have
received an opinion of counsel experienced in practice under the Investment
Company Act which states that, as a result of the occurrence of an amendment to,
or change (including any announced proposed change) in, the laws or regulations
of the United States or any political subdivision thereof or therein or any
other governmental agency or regulatory authority (a "Change in 1940 Act Law"),
there is more than an insubstantial risk that the Trust is or will be considered
an Investment Company which is required to be registered under the Investment
Company Act, which Change in 1940 Act Law becomes effective on or after
_________________.

                  "Legal Action" has the meaning set forth in Section 3.8(h).

                  "Like Amount" means (i) with respect to a redemption of
Securities, Securities having a liquidation amount equal to the principal amount
of Debentures to be repaid in accordance with their terms and (ii) with respect
to a distribution of Debentures upon the liquidation of the Trust, Debentures
having a principal amount equal to the liquidation amount of the Securities of
the holder thereof to whom Debentures are distributed.

                  "Liquidation Distribution" has the meaning set forth in
Section 3 of Annex I.

                  "List of Holders" has the meaning set forth in Section 2.2(a).

                  "Majority in liquidation amount of the Securities" means,
except as provided in the terms of the Preferred Securities or by the Trust
Indenture Act, Holder(s) of outstanding Securities voting together as a single
class or, as the context may require, Holders of outstanding Preferred
Securities or Holders of outstanding Common Securities voting separately as a
class, who are the record owners of more than 50% of the aggregate liquidation
amount (including the stated amount that would be paid on redemption,
liquidation or otherwise, plus accrued and unpaid Distributions to the date upon
which the voting percentages are determined) of all outstanding Securities of
the relevant class.

                  "Officer's Certificate" means, with respect to any Person, a
certificate signed by an Authorized Officer of such Person. Any Officer's
Certificate delivered with respect to compliance with a condition or covenant
provided for in this Declaration shall include:

                  (i)      a statement that the officer signing the Officer's
         Certificate has read the covenant or condition and the definitions
         relating thereto;

                                       5
<PAGE>

                  (ii)     a brief statement of the nature and scope of the
         examination or investigation undertaken by the officer in rendering the
         Officer's Certificate;

                  (iii)    a statement that such officer has made such
         examination or investigation as, in such officer's opinion, is
         necessary to enable such officer to express an informed opinion as to
         whether or not such covenant or condition has been complied with; and

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

                  "Original Declaration" has the meaning set forth in the
preamble hereof.

                  "Paying Agent" has the meaning specified in Section 3.10(i).

                  "Payment Amount" has the meaning set forth in Section 6.1.

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

                  "Preferred Securities" has the meaning specified in Section
7.1(a).

                  "Preferred Securities Guarantee" means the guarantee agreement
to be dated as of _________________, of the Sponsor in respect of the Preferred
Securities.

                  "Preferred Security Beneficial Owner" means, with respect to a
Book-Entry Interest, a Person who is the beneficial owner of such Book-Entry
Interest, as reflected on the books of the Clearing Agency, or on the books of a
Person maintaining an account with such Clearing Agency (directly as a Clearing
Agency Participant or as an indirect participant, in each case in accordance
with the rules of such Clearing Agency).

                  "Preferred Security Certificate" means a certificate
representing a Preferred Security substantially in the form of Exhibit A-1.

                  "Pro Rata" has the meaning set forth in Section 8 of Annex I.

                  "Property Account" has the meaning set forth in Section
3.10(c).

                  "Quorum" means a majority of the Regular Trustees or, if there
are only two Regular Trustees, both of them.

                  "Redemption Price" has the meaning set forth in Section 4(b)
of Annex I.

                  "Redemption/Distribution Notice" has the meaning set forth in
Section 4(g) of Annex I.

                  "Regular Trustee" has the meaning set forth in Section 5.1(b).

                                       6
<PAGE>

                  "Related Party" means, with respect to the Sponsor, any direct
or indirect wholly owned subsidiary of the Sponsor or any other Person that
owns, directly or indirectly, 100% of the outstanding voting securities of the
Sponsor.

                  "Responsible Officer" means, when used with respect to the
Institutional Trustee, any officer assigned to the Corporate Trust Office of the
Institutional Trustee, including any managing director, vice president,
assistant vice president, senior trust officer, trust officer, assistant
treasurer, assistant secretary or any other officer of the Institutional Trustee
customarily performing functions similar to those performed by any of the above
designated officers, and also, with respect to a particular matter, any other
officer, to whom such matter is referred because of such officer's knowledge of
and familiarity with the particular subject.

                  "Rule 3a-5" means Rule 3a-5 under the Investment Company Act
or any successor rule or regulation.

                  "Securities" means the Common Securities and the Preferred
Securities.

                  "Securities Act" means the Securities Act of 1933, as amended
from time to time, or any successor legislation.

                  "Securities Guarantees" means the Common Securities Guarantee
and the Preferred Securities Guarantee.

                  "Securities Register" has the meaning set forth in Section
9.2.

                  "Securities Registrar" has the meaning set forth in Section
9.2.

                  "Sponsor" means SunTrust Banks, Inc., a Georgia corporation,
or any successor entity resulting from any merger, consolidation, amalgamation
or other business combination.

                  "Sponsor Indemnified Person" means (i) any Regular Trustee;
(ii) any Affiliate of any Regular Trustee; (iii) any officers, directors,
shareholders, members, partners, employees, representatives or agents of any
Regular Trustee; or (iv) any officer, employee or agent of the Trust or its
Affiliates.

                  "Successor Delaware Trustee" has the meaning set forth in
Section 5.7(b).

                  "Successor Entity" has the meaning set forth in Section
3.17(b).

                  "Successor Institutional Trustee" has the meaning set forth in
Section 3.10(g)(ii).

                  "Successor Securities" has the meaning set forth in Section
3.17(b).

                  "Super Majority" has the meaning set forth in Section
2.6(a)(ii).

                  "Tax Event" means the receipt by the Trust of an opinion of
counsel experienced in such matters to the effect that, as a result of (i) any
amendment to, or change (including any announced proposed change) in, the laws
or regulations of the United States or any political

                                       7
<PAGE>

subdivision or taxing authority thereof or therein, or (ii) any official
administrative pronouncement or action or judicial decision interpreting or
applying such laws or regulations, which amendment, change, pronouncement,
action or decision is effective or is announced or occurs on or after
___________________, there is, in case of either clause (i) or (ii), more than
an insubstantial risk that (A) the Trust is, or will be within 90 days of the
date of such opinion, subject to United States federal income tax with respect
to interest accrued or received on the Debentures, (B) interest payable by the
Sponsor on the Debentures is not, or within 90 days of the date of such opinion,
will not be, deductible by the Sponsor in whole or in part for United States
federal income tax purposes or (C) the Trust is, or will be within 90 days of
the date of such opinion, subject to more than a de minimis amount of other
taxes, duties or other governmental charges.

                  "Treasury Regulations" means the income tax regulations,
including temporary and proposed regulations, promulgated under the Code by the
United States Treasury, as such regulations may be amended from time to time
(including corresponding provisions of succeeding regulations).

                  "Trust Indenture Act" means the Trust Indenture Act of 1939,
as amended from time to time, or any successor legislation.

                  "Trustee" or "Trustees" means each Person who has signed this
Declaration as a trustee, so long as such Person shall continue in office in
accordance with the terms hereof, and all other Persons who may from time to
time be duly appointed, qualified and serving as Trustees in accordance with the
provisions hereof, and references herein to a Trustee or the Trustees shall
refer to such Person or Persons solely in their capacity as trustees hereunder.

                  "Underwriting Agreement" means the Underwriting Agreement
dated _________________ among the Trust, the Sponsor and
_________________________________ (as representatives of the several
underwriters named therein), providing for the offering and sale of the
Preferred Securities to the public.

                                   ARTICLE II

                               TRUST INDENTURE ACT

SECTION 2.1. Trust Indenture Act; Application.

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

                  (b)      The Institutional Trustee, to the extent permitted by
applicable law and/or the rules and regulations of the Commission, shall be the
only Trustee that is a Trustee for the purposes of the Trust Indenture Act.

                  (c)      If and to the extent that any provision of this
Declaration limits, qualifies or conflicts with the duties imposed by Sections
310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall
control.

                                       8
<PAGE>

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

SECTION 2.2. Lists of Holders of Securities.

                  (a)      Each of the Sponsor and the Regular Trustees on
behalf of the Trust shall provide the Institutional Trustee (i) within 14 days
after each record date for payment of Distributions, a list, in such form as the
Institutional Trustee may reasonably require, of the names and addresses of the
Holders of the Securities ("List of Holders") as of such record date; provided,
however, that if the record date is the day immediately preceding a Distribution
Date (as defined in Annex I hereto), then such List of Holders shall be provided
on the day of such Distribution Date; provided further that, neither the Sponsor
nor the Regular Trustees on behalf of the Trust shall be obligated to provide
such List of Holders at any time the List of Holders does not differ from the
most recent List of Holders given to the Institutional Trustee by the Sponsor
and the Regular Trustees on behalf of the Trust, and (ii) at any other time,
within 30 days of receipt by the Trust of a written request for a List of
Holders as of a date no more than 14 days before such List of Holders is given
to the Institutional Trustee. The Institutional Trustee shall preserve, in as
current a form as is reasonably practicable, all information contained in Lists
of Holders given to it or which it receives in the capacity as Paying Agent (if
acting in such capacity), provided that the Institutional Trustee may destroy
any List of Holders previously given to it on receipt of a new List of Holders.

                  (b)      The Institutional Trustee shall comply with its
obligations under Sections 311(a), 311(b) and 312(b) of the Trust Indenture Act.

SECTION 2.3. Reports by the Institutional Trustee.

                  Within 60 days after May 15 of each year (commencing May
_____), the Institutional Trustee shall provide to the Holders of the Preferred
Securities such reports as are required by Section 313(a) of the Trust Indenture
Act, if any, in the form and in the manner provided by Section 313 of the Trust
Indenture Act. The Institutional Trustee shall also comply with the other
requirements of Section 313 of the Trust Indenture Act.

SECTION 2.4. Periodic Reports to the Institutional Trustee.

                  Each of the Sponsor and the Regular Trustees on behalf of the
Trust shall provide to the Institutional Trustee such documents, reports and
information as required by Section 314 of the Trust Indenture Act (if any) and
the compliance certificate required by Section 314 of the Trust Indenture Act in
the form, in the manner and at the times required by Section 314 of the Trust
Indenture Act, such compliance certificate to be delivered annually on or before
120 days after the end of each fiscal year of the Sponsor.

SECTION 2.5. Evidence of Compliance with Conditions Precedent.

                  Each of the Sponsor and the Regular Trustees on behalf of the
Trust shall provide to the Institutional Trustee such evidence of compliance
with any conditions precedent, if any, provided for in this Declaration that
relate to any of the matters set forth in Section 314(c) of the Trust

                                       9
<PAGE>

Indenture Act. Any certificate or opinion required to be given by an officer
pursuant to Section 314(c)(1) of the Trust Indenture Act may be given in the
form of an Officer's Certificate.

SECTION 2.6. Events of Default; Waiver.

                  (a)      The Holders of a Majority in liquidation amount of
Preferred Securities may, by vote, on behalf of the Holders of all of the
Preferred Securities, waive any past Event of Default in respect of the
Preferred Securities and its consequences, provided that, if the underlying
Event of Default under the Indenture:

                           (i)      is not waivable under the Indenture, the
         Event of Default under this Declaration shall also not be waivable; or

                           (ii)     requires the consent or vote of greater than
         a majority in principal amount of the holders of the Debentures (a
         "Super Majority") to be waived under the Indenture, the Event of
         Default under this Declaration may only be waived by the vote of the
         Holders of at least the proportion in aggregate liquidation amount of
         the Preferred Securities that the relevant Super Majority represents of
         the aggregate principal amount of the Debentures outstanding; or

                           (iii)    requires the consent or vote of each holder
         of Debentures to be waived under the Indenture, then the Event of
         Default under this Declaration may only be waived by each Holder of
         Preferred Securities.

The foregoing provisions of this Section 2.6(a) shall be in lieu of Section
316(a)(1)(B) of the Trust Indenture Act and such Section 316(a)(1)(B) of the
Trust Indenture Act is hereby expressly excluded from this Declaration and the
Securities, as permitted by the Trust Indenture Act. Upon such waiver, any such
default shall cease to exist, and any Event of Default with respect to the
Preferred Securities arising therefrom shall be deemed to have been cured, for
every purpose of this Declaration, but no such waiver shall extend to any
subsequent or other default or an Event of Default with respect to the Preferred
Securities or impair any right consequent thereon. Any waiver by the Holders of
the Preferred Securities of an Event of Default with respect to the Preferred
Securities shall also be deemed to constitute a waiver by the Holders of the
Common Securities of any such Event of Default with respect to the Common
Securities for all purposes of this Declaration without any further act, vote,
or consent of the Holders of the Common Securities.

                  The Holders of a Majority in liquidation amount of the
Preferred Securities shall have the right to direct the time, method and place
of conducting any proceeding for any remedy available to the Institutional
Trustee or to direct the exercise of any trust or power conferred upon the
Institutional Trustee, including the right to direct the Institutional Trustee
to exercise the remedies available to it as a holder of the Debentures.

                  (b)      The Holders of a Majority in liquidation amount of
the Common Securities may, by vote, on behalf of the Holders of all of the
Common Securities, (i) in accordance with the terms of the Common Securities,
direct the time, method and place of conducting any proceeding for any remedy
available to the Institutional Trustee, or exercising any trust or power
conferred upon the

                                       10
<PAGE>

Institutional Trustee, or (ii) waive any past Event of Default with respect to
the Common Securities and its consequences, provided that, if the underlying
Event of Default under the Indenture:

                           (A)      is not waivable under the Indenture, except
                  where the Holders of the Common Securities are deemed to have
                  waived such Event of Default under this Declaration as
                  provided below in this Section 2.6(b), the Event of Default
                  under this Declaration shall also not be waivable; or

                           (B)      requires the consent or vote of a Super
                  Majority to be waived, except where the Holders of the Common
                  Securities are deemed to have waived such Event of Default
                  under this Declaration as provided below in this Section
                  2.6(b), the Event of Default under this Declaration may only
                  be waived by the vote of the Holders of at least the
                  proportion in aggregate liquidation amount of the Common
                  Securities that the relevant Super Majority represents of the
                  aggregate principal amount of the Debentures outstanding;

provided further, that each Holder of Common Securities will be deemed to have
waived any such Event of Default and all Events of Default with respect to the
Common Securities and its consequences until all Events of Default with respect
to the Preferred Securities have been cured, waived or otherwise eliminated, and
until such Events of Default have been so cured, waived or otherwise eliminated,
the Institutional Trustee will be deemed to be acting solely on behalf of the
Holders of the Preferred Securities and only the Holders of the Preferred
Securities will have the right to direct the Institutional Trustee in accordance
with the terms of the Securities. In the event that an Event of Default with
respect to the Preferred Securities is waived by the Holders of Preferred
Securities as provided in this Declaration, the Holders of Common Securities
agree that such waiver shall also constitute the waiver of such Event of Default
with respect to the Common Securities for all purposes under this Declaration
without any further act, vote or consent of the Holders of the Common
Securities. The foregoing provisions of this Section 2.6(b) shall be in lieu of
Sections 316(a)(1)(A) and 316(a)(1)(B) of the Trust Indenture Act and such
Sections 316(a)(1)(A) and 316(a)(1)(B) of the Trust Indenture Act are hereby
expressly excluded from this Declaration and the Securities, as permitted by the
Trust Indenture Act. Subject to the foregoing provisions of this Section 2.6(b),
upon such waiver, any such default shall cease to exist and any Event of Default
with respect to the Common Securities arising therefrom shall be deemed to have
been cured for every purpose of this Declaration, but no such waiver shall
extend to any subsequent or other default or Event of Default with respect to
the Common Securities or impair any right consequent thereon.

                  (c)      The right of any Holder of Securities to receive
payment of Distributions on the Securities in accordance with this Declaration
and the terms of the Securities set forth in Annex I on or after the respective
payment dates therefor, or to institute suit for the enforcement of any such
payment on or after such payment dates, shall not be impaired without the
consent of such Holder.

                  (d)      A waiver of an Event of Default under the Indenture
by the Institutional Trustee at the direction of the Holders of the Preferred
Securities, constitutes a waiver of the corresponding Event of Default under
this Declaration. The foregoing provisions of this Section 2.6(d) shall be in
lieu of Section 316(a)(1)(B) of the Trust Indenture Act and such

                                       11
<PAGE>

Section 316(a)(1)(B) of the Trust Indenture Act is hereby expressly excluded
from this Declaration and the Securities, as permitted by the Trust Indenture
Act.

SECTION 2.7. Event of Default; Notice.

                  (a)      The Institutional Trustee shall, within 90 days after
the occurrence of an Event of Default actually known to a Responsible Officer of
the Institutional Trustee, transmit by mail, first class postage prepaid, to the
Holders of the Securities, (i) notice of all such defaults with respect to the
Securities, unless such defaults have been cured before the giving of such
notice (the term "defaults" for the purposes of this Section 2.7(a) being hereby
defined to be an Event of Default as defined in the Indenture, not including any
periods of grace provided for therein and irrespective of the giving of any
notice provided therein) and (ii) any notice of default received from the Debt
Trustee with respect to the Debentures, which notice from the Institutional
Trustee to the Holders shall state that an Event of Default under the Indenture
also constitutes an Event of Default with respect to the Securities; provided
that, except for a default in the payment of principal of (or premium, if any)
or interest on any of the Debentures, the Institutional Trustee shall be
protected in withholding such notice if and so long as a Responsible Officer of
the Institutional Trustee in good faith determines that the withholding of such
notice is in the interests of the Holders of the Securities; and provided
further, that in the case of any default of the character specified in Section
5.01(c) of the Base Indenture, no such notice to Holders shall be required to be
given until at least 60 days after the occurrence thereof but shall be given
within 90 days after such occurrence.

                  (b)      The Institutional Trustee shall not be deemed to have
knowledge of any default except:

                           (i)      so long as the Institutional Trustee is a
         Paying Agent, a default under Sections 5.01(a) and 5.01(b) of the Base
         Indenture; or

                           (ii)     any default as to which the Institutional
         Trustee shall have received written notice or of which a Responsible
         Officer of the Institutional Trustee charged with the administration of
         this Declaration shall have actual knowledge.

                                  ARTICLE III

                                  ORGANIZATION

SECTION 3.1. Name.

                  The Trust is named "SunTrust Capital ___," as such name may be
modified from time to time by the Regular Trustees following written notice to
the Holders of Securities. The Trust's activities may be conducted under the
name of the Trust or any other name deemed advisable by the Regular Trustees.

                                       12
<PAGE>

SECTION 3.2. Office.

                  The address of the principal office of the Trust is c/o
SunTrust Banks, Inc., 303 Peachtree Street, N.E., Atlanta, Georgia, 30308-3201.
On ten Business Days written notice to the Holders, the Regular Trustees may
designate another principal office.

SECTION 3.3. Issuance of the Securities.

                  On ________________, the Sponsor, on behalf of the Trust and
pursuant to the Original Declaration, executed and delivered the Underwriting
Agreement. On the Closing Date, the Regular Trustees, on behalf of the Trust,
shall execute and deliver (i) to the underwriters, in accordance with the
Underwriting Agreement, a Global Certificate, registered in the name of the
nominee of the initial Clearing Agency as specified in Section 9.4, representing
in the aggregate _______________ Preferred Securities having an aggregate
liquidation amount of $_____________, against receipt of the aggregate purchase
price for such Preferred Securities of $___________ and (ii) to the Sponsor, a
certificate representing __________ Common Securities, registered in the name of
the Sponsor, having an aggregate liquidation amount of $____, against receipt of
the aggregate purchase price for such Common Securities of
$_____________.

SECTION 3.4. Purchase of Debentures.

                  On the Closing Date, the Regular Trustees, on behalf of the
Trust, shall purchase from the Sponsor with the proceeds received by the Trust
from the sale of the Securities on such date pursuant to Section 3.5,
Debentures, registered in the name of the Institutional Trustee and having an
aggregate principal amount equal to $______________, and, in satisfaction of the
purchase price for such Debentures, the Regular Trustees, on behalf of the
Trust, shall deliver or cause to be delivered to the Sponsor the sum of
$______________.

SECTION 3.5. Purpose.

                  The exclusive purposes and functions of the Trust are (a) to
issue and sell Preferred Securities and use the proceeds from such sale to
acquire the Debentures issued under the Indenture having an aggregate
liquidation amount of the Preferred Securities so issued and sold; (b) to enter
into such agreements and arrangements as may be necessary in connection with the
sale of Preferred Securities to the initial purchasers thereof (including the
Underwriting Agreement) and to take all actions and exercise such discretion as
may be necessary or desirable in connection therewith and to file such
registration statements or make such other filings under the Securities Act, the
Exchange Act or state securities or "Blue Sky" laws as may be necessary or
desirable in connection therewith and the issuance of the Preferred Securities;
(c) to issue and sell Common Securities to the Debenture Issuer for cash and use
the proceeds of such sale to purchase as trust assets an equal aggregate
principal amount of Debentures issued under the Indenture; and (d) except as
otherwise limited herein, to engage in only those other activities necessary, or
incidental thereto. The Trust shall not borrow money, issue debt or reinvest
proceeds derived from investments, pledge any of its assets, or otherwise
undertake (or permit to be undertaken) any activity that would cause the Trust
not to be classified for United States federal income tax purposes as a grantor
trust.

                                       13
<PAGE>

SECTION 3.6. Authority.

                  Subject to the limitations provided in this Declaration and to
the specific duties of the Institutional Trustee, the Regular Trustees shall
have exclusive and complete authority to carry out the purposes of the Trust. An
action taken by the Regular Trustees in accordance with their powers shall
constitute the act of and serve to bind the Trust and any action taken by the
Institutional Trustee on behalf of the Trust in accordance with its powers shall
constitute the act of and serve to bind the Trust. In dealing with the Trustees
acting on behalf of the Trust, no Person shall be required to inquire into the
authority of the Trustees to bind the Trust. Persons dealing with the Trust are
entitled to rely conclusively on the power and authority of the Trustees as set
forth in this Declaration.

SECTION 3.7. Title to Property of the Trust.

                  Except as provided in Section 3.10 with respect to the
Debentures and the Property Account or as otherwise provided in this
Declaration, legal title to all assets of the Trust shall be vested in the
Trust. The Holders shall not have legal title to any part of the assets of the
Trust, but shall have an undivided beneficial interest in the assets of the
Trust.

SECTION 3.8. Powers and Duties of the Regular Trustees.

                  The Regular Trustees shall have the exclusive power, duty and
authority to cause the Trust and shall cause the Trust to engage in the
following activities:

                  (a)      to issue and sell the Preferred Securities and the
Common Securities in accordance with this Declaration; provided, however, that
the Trust may issue no more than one series of Preferred Securities and no more
than one series of Common Securities, and, provided further, that there shall be
no interests in the Trust other than the Securities, and the issuance of
Securities shall be limited to a one-time, simultaneous issuance of both
Preferred Securities and Common Securities on the Closing Date;

                  (b)      in connection with the issue and sale of the
Preferred Securities, at the direction of the Sponsor, to:

                           (i)      execute and file with the Commission
         registration statement on Form S-3 prepared by the Sponsor, including
         any amendments thereto and any registration statement under Rule 462(b)
         of the Securities Act, and a registration statement under Rule 462(b)
         of the Securities Act, pertaining to the Preferred Securities;

                           (ii)     execute and file any documents prepared by
         the Sponsor, or take any acts as determined by the Sponsor to be
         necessary in order to qualify or register all or part of the Preferred
         Securities in any state in which the Sponsor has determined to qualify
         or register such Preferred Securities for sale;

                           (iii)    execute and file an application, prepared by
         the Sponsor, to the New York Stock Exchange, Inc. or any other national
         stock exchange or the Nasdaq National Market for listing or quotation
         upon notice of issuance of any Preferred Securities, but if and only if
         the Sponsor has so instructed the Regular Trustees to make such filing;

                                       14
<PAGE>

                           (iv)     execute and file with the Commission a
         registration statement on Form 8-A, including any amendments thereto,
         prepared by the Sponsor, relating to the registration of the Preferred
         Securities under Section 12(b) or 12(g) of the Exchange Act, but if and
         only if the Sponsor has so instructed the Regular Trustees to make such
         filing;

                           (v)      execute and enter into the Underwriting
         Agreement providing for the sale of the Preferred Securities; and

                           (vi)     to execute and file any agreement,
         certificate or other document which such Regular Trustees deem
         necessary or appropriate in connection with the issuance and sale of
         the Preferred Securities;

                  (c)      to acquire as trust assets the Debentures with the
proceeds of the sale of the Preferred Securities and the Common Securities;
provided, however, that the Regular Trustees shall cause legal title to the
Debentures to be held of record in the name of the Institutional Trustee for the
benefit of the Holders of the Preferred Securities and the Holders of Common
Securities;

                  (d)      to cause the Trust to enter into such agreements and
arrangements as may be necessary or desirable in connection with the sale of
Preferred Securities to the initial purchasers thereof and the consummation
thereof, and to take all action, and exercise all discretion, as may be
necessary or desirable in connection with the consummation thereof;

                  (e)      to give the Sponsor and the Institutional Trustee
prompt written notice of the occurrence of a Tax Event, an Investment Company
Event or a Capital Treatment Event; provided that the Regular Trustees shall
consult with the Sponsor and the Institutional Trustee before taking or
refraining to take any action in relation to any such Tax Event, Investment
Company Event or Capital Treatment Event;

                  (f)      to establish a record date with respect to all
actions to be taken hereunder that require a record date be established,
including and with respect to, for the purposes of Section 316(c) of the Trust
Indenture Act, Distributions, voting rights, redemptions and exchanges, and to
issue relevant notices to the Holders of Preferred Securities and Holders of
Common Securities as to such actions and applicable record dates;

                  (g)      to take all actions and perform such duties as may be
required of the Regular Trustees pursuant to the terms of the Securities;

                  (h)      to bring or defend, pay, collect, compromise,
arbitrate, resort to legal action, or otherwise adjust claims or demands of or
against the Trust ("Legal Action"), unless pursuant to Section 3.10(e), the
Institutional Trustee has the exclusive power to bring such Legal Action;

                  (i)      to employ or otherwise engage employees and agents
(who may be designated as officers with titles) and managers, contractors,
advisors, and consultants and pay reasonable compensation for such services;

                  (j)      to cause the Trust to comply with the Trust's
obligations under the Trust Indenture Act;

                                       15
<PAGE>

                  (k)      to give the certificate required by Section 314(a)(4)
of the Trust Indenture Act to the Institutional Trustee, which certificate may
be executed by any Regular Trustee;

                  (l)      to incur expenses that are necessary or incidental to
carry out any of the purposes of the Trust;

                  (m)      if duly appointed pursuant to the provisions herein,
to act as registrar, transfer agent or Paying Agent for the Securities;

                  (n)      to execute all documents or instruments, perform all
duties and powers, and do all things for and on behalf of the Trust in all
matters necessary or incidental to the foregoing;

                  (o)      to take all action that may be necessary or
appropriate for the preservation and the continuation of the Trust's valid
existence, rights, franchises and privileges as a statutory business trust under
the laws of the State of Delaware and of each other jurisdiction in which such
existence is necessary to protect the limited liability of the Holders of the
Preferred Securities or to enable the Trust to effect the purposes for which the
Trust was created;

                  (p)      to take any action, not inconsistent with this
Declaration or with applicable law, that the Regular Trustees determine in their
discretion to be necessary or desirable in carrying out the activities of the
Trust as set out in this Section 3.8, including, but not limited to:

                           (i)      causing the Trust not to be deemed to be an
         Investment Company required to be registered under the Investment
         Company Act;

                           (ii)     causing the Trust to be classified for
         United States federal income tax purposes as a grantor trust and not as
         an association taxable as a corporation or a partnership; and

                           (iii)    cooperating with the Debenture Issuer to
         ensure that the Debentures will be treated as indebtedness of the
         Debenture Issuer for United States federal income tax purposes,

         provided that such action does not adversely affect the interests of
the Holders; and

                  (q)      to take all action necessary to cause all applicable
tax returns and tax information reports that are required to be filed with
respect to the Trust to be duly prepared and filed by the Regular Trustees, on
behalf of the Trust.

                  The Regular Trustees must exercise the powers set forth in
this Section 3.8 in a manner that is consistent with the purposes and functions
of the Trust set out in Section 3.5, and the Regular Trustees shall not take any
action that is inconsistent with the purposes and functions of the Trust set
forth in Section 3.5.

                  Subject to this Section 3.8, the Regular Trustees shall have
none of the powers or the authority of the Institutional Trustee set forth in
Section 3.10.

                                       16
<PAGE>

                  Any expenses incurred by the Regular Trustees pursuant to this
Section 3.8 shall be reimbursed by the Debenture Issuer.

                  The Regular Trustees shall take all actions on behalf of the
Trust that are not specifically required by this Declaration to be taken by any
other Trustee.

SECTION 3.9. Prohibition of Actions by the Trust and the Trustees.

                  The Trust shall not, and the Trustees (including the
Institutional Trustee) shall cause the Trust to not, engage in any activity
other than as required or authorized by this Declaration. In particular, the
Trust shall not and the Trustees (including the Institutional Trustee) shall
cause the Trust not to:

                           (i)      invest any proceeds received by the Trust
         from holding the Debentures, but shall distribute all such proceeds to
         Holders of Securities pursuant to the terms of this Declaration and of
         the Securities;

                           (ii)     acquire any assets other than as expressly
         provided herein;

                           (iii)    possess Trust property for other than a
         Trust purpose;

                           (iv)     make any loans or incur any indebtedness
         other than loans represented by the Debentures;

                           (v)      possess any power or otherwise act in such a
         way as to vary the Trust assets or the terms of the Securities in any
         way whatsoever;

                           (vi)     issue any securities or other evidences of
         beneficial ownership of, or beneficial interest in, the Trust other
         than the Securities;

                           (vii)    incur any indebtedness for borrowed money;
         or

                           (viii)   other than as provided in this Declaration
         or Annex I, (A) direct the time, method and place of exercising any
         trust or power conferred upon the Debt Trustee with respect to the
         Debentures, (B) waive any past default that is waivable under the
         Indenture, (C) exercise any right to rescind or annul any declaration
         that the principal of all the Debentures shall be due and payable, or
         (D) consent to any amendment, modification or termination of the
         Indenture or the Debentures where such consent shall be required unless
         the Trust shall have received an opinion of a nationally recognized
         independent tax counsel experienced in such matters to the effect that
         as a result of such action, the Trust will not fail to be classified as
         a grantor trust for United States federal income tax purposes.

SECTION 3.10. Powers and Duties of the Institutional Trustee.

                  (a)      The legal title to the Debentures shall be owned by
and held of record in the name of the Institutional Trustee in trust for the
benefit of the Trust and the Holders of the Securities. The right, title and
interest of the Institutional Trustee to the Debentures shall vest automatically
in

                                       17
<PAGE>

each Person who may hereafter be appointed as Institutional Trustee in
accordance with Section 5.7. Such vesting and cessation of title shall be
effective whether or not conveyancing documents with regard to the Debentures
have been executed and delivered.

                  (b)      The Institutional Trustee shall not transfer its
right, title and interest in the Debentures to the Regular Trustees or to the
Delaware Trustee (if the Institutional Trustee does not also act as Delaware
Trustee).

                  (c)      The Institutional Trustee shall:

                           (i)      establish and maintain a segregated
         non-interest bearing trust account (the "Property Account") in the name
         of and under the exclusive control of the Institutional Trustee on
         behalf of the Holders of the Securities and, upon the receipt of
         payments of funds made in respect of the Debentures held by the
         Institutional Trustee, deposit or cause to be deposited such funds into
         the Property Account and make or cause to be made payments to the
         Holders of the Preferred Securities and Holders of the Common
         Securities from the Property Account in accordance with Section 6.1.
         Funds in the Property Account shall be held uninvested until disbursed
         in accordance with this Declaration. The Property Account shall be
         maintained with Bank One, N.A. in its trust department so long as Bank
         One, N.A. is a Paying Agent; if Bank One, N.A. is not a Paying Agent,
         the Property Account will be maintained at the Institutional Trustee or
         at its direction. The Institutional Trustee shall not be liable to any
         Person for the acts or omissions of Bank One, N.A. in connection with
         the administration of the Property Account, unless such acts or
         omissions were taken or made at the express instructions of the
         Institutional Trustee. The Sponsor shall cause Bank One, N.A. to (i)
         promptly advise the Institutional Trustee of all deposits and
         withdrawals from the Property Account and of any failure by Bank One,
         N.A. to receive from the Debenture Issuer any payments on the
         Debentures when due, (ii) provide the Institutional Trustee with
         monthly reports as to the activity in the Property Account and (iii)
         permit the Institutional Trustee to have access to Bank One, N.A.'s
         records with respect to the Property Account upon reasonable request
         therefor;

                           (ii)     engage in such ministerial activities as
         shall be necessary or appropriate to effect the redemption of the
         Preferred Securities and the Common Securities to the extent the
         Debentures are redeemed or mature;

                           (iii)    upon written notice of distribution issued
         by the Regular Trustees in accordance with the terms of the Securities,
         engage in such ministerial activities as shall be necessary or
         appropriate to effect the distribution of the Debentures to Holders of
         Securities upon the occurrence of certain special events (as may be
         defined in the terms of the Securities) arising from a change in law or
         a change in legal interpretation or other specified circumstances
         pursuant to the terms of the Securities; and

                           (iv)     have the legal power to exercise all of the
         rights, powers and privileges of a holder of the Debentures under the
         Indenture and, if an Event of Default occurs and is continuing, the
         Institutional Trustee, subject to Section 2.6, shall, for the benefit
         of the Holders of the Securities, enforce its rights as holder of the
         Debentures under the Indenture,

                                       18
<PAGE>

         subject to the rights of the Holders of the Preferred Securities
         pursuant to the terms of this Declaration, the Business Trust Act and
         the Trust Indenture Act.

                  (d)      The Institutional Trustee shall take all actions and
perform such duties as may be specifically required of the Institutional Trustee
pursuant to the terms of the Securities.

                  (e)      The Institutional Trustee may take any Legal Action
that arises out of or in connection with an Event of Default of which a
Responsible Officer of the Institutional Trustee has knowledge or the
Institutional Trustee's duties and obligations under this Declaration or the
Trust Indenture Act and if such Institutional Trustee shall have failed to take
such Legal Action after a written request from a Holder of the Preferred
Securities, then such Holder of the Preferred Securities may take such Legal
Action, to the same extent as if such Holders of Preferred Securities held a
principal amount of Debentures equal to the liquidation amount of such Preferred
Securities, without first proceeding against the Institutional Trustee or the
Trust; provided, however, that if an Event of Default has occurred and is
continuing and such event is attributable to the failure of the Debenture Issuer
to pay interest or principal on the Debentures on the date such interest or
principal is otherwise payable (or in the case of redemption, on the redemption
date), then a Holder of Preferred Securities may directly institute a proceeding
for enforcement of payment to such Holder of the principal of or interest on the
Debentures having a principal amount equal to the aggregate liquidation amount
of the Preferred Securities held by such Holder (a "Direct Action") on or after
the respective due date specified in the Debentures. In connection with such
Direct Action, the rights of the Holders of the Common Securities will be
subrogated to the rights of such Holder of Preferred Securities to the extent of
any payment made by the Debenture Issuer to such Holder of Preferred Securities
in such Direct Action. Except as provided in the preceding sentences, the
Holders of Preferred Securities will not be able to exercise directly any other
remedy available to the holders of the Debentures.

                  (f)      All moneys deposited in the Property Account, and all
Debentures held by the Institutional Trustee for the benefit of the Holders of
the Securities, will not be subject to any right, charge, security interest,
lien or claim of any kind in favor of, or for the benefit of, the Institutional
Trustee or its agents or their creditors.

                  (g)      The Institutional Trustee shall continue to serve as
a Trustee until:

                           (i)      the Trust has been completely liquidated and
         the proceeds of the liquidation distributed to the Holders of
         Securities pursuant to the terms of the Securities; or

                           (ii)     a successor Institutional Trustee has been
         appointed and has accepted that appointment in accordance with Section
         5.7 (a "Successor Institutional Trustee").

                  (h)      The Institutional Trustee shall have the legal power
to exercise all of the rights, powers and privileges of a holder of Debentures
under the Indenture and, if an Event of Default actually known to a Responsible
Officer of the Institutional Trustee occurs and is continuing, the Institutional
Trustee shall, for the benefit of the Holders of the Securities, enforce its
rights as holder of the Debentures subject to the rights of the Holders pursuant
to the terms of such Securities.

                                       19
<PAGE>

                  (i)      The Institutional Trustee may authorize one or more
Persons (each, a "Paying Agent") to pay Distributions, redemption payments or
liquidation payments on behalf of the Trust with respect to all Securities and
any such Paying Agent shall comply with Section 317(b) of the Trust Indenture
Act. Any Paying Agent may be removed by the Institutional Trustee, after
consultation with the Regular Trustees, at any time and a successor Paying Agent
or additional Paying Agents may be appointed at any time by the Institutional
Trustee, which must be acceptable to the Regular Trustees, subject to Section
317(b) of the Trust Indenture Act.

                  (j)      The Institutional Trustee shall give prompt written
notice to the Holders of the Securities of any notice received by it from the
Debenture Issuer of its election to defer payments of interest on the Debentures
by extending the interest payment period with respect thereto.

                  (k)      Subject to this Section 3.10, the Institutional
Trustee shall have none of the duties, liabilities, powers or the authority of
the Regular Trustees set forth in Section 3.8.

                  The Institutional Trustee must exercise the powers set forth
in this Section 3.10 in a manner that is consistent with the purposes and
functions of the Trust set out in Section 3.5, and the Institutional Trustee
shall not take any action that is inconsistent with the purposes and functions
of the Trust set out in Section 3.5.

SECTION 3.11. Certain Duties and Responsibilities of the Institutional Trustee.

                  (a)      The Institutional Trustee, before the occurrence of
any Event of Default and after the curing of all Events of Default that may have
occurred, shall undertake to perform only such duties as are specifically set
forth in this Declaration and in the Securities and no implied covenants shall
be read into this Declaration against the Institutional Trustee. In case an
Event of Default has occurred (that has not been cured or waived pursuant to
Section 2.6) of which a Responsible Officer of the Institutional Trustee has
actual knowledge, the Institutional Trustee shall exercise such of the rights
and powers vested in it by this Declaration, and use the same degree of care and
skill in their exercise, as a prudent person would exercise or use under the
circumstances in the conduct of his or her own affairs.

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

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

                                    (A)      the duties and obligations of the
                  Institutional Trustee shall be determined solely by the
                  express provisions of this Declaration and in the Securities
                  and the Institutional Trustee shall not be liable except for
                  the performance of such duties and obligations as are
                  specifically set forth in this Declaration and in the
                  Securities, and no implied covenants or obligations shall be
                  read into this Declaration or the Securities against the
                  Institutional Trustee; and

                                       20
<PAGE>

                                    (B)      in the absence of bad faith on the
                  part of the Institutional Trustee, the Institutional Trustee
                  may conclusively rely, as to the truth of the statements and
                  the correctness of the opinions expressed therein, upon any
                  certificates or opinions furnished to the Institutional
                  Trustee and conforming to the requirements of this
                  Declaration; but in the case of any such certificates or
                  opinions that by any provision hereof are specifically
                  required to be furnished to the Institutional Trustee, the
                  Institutional Trustee shall be under a duty to examine the
                  same to determine whether or not they conform to the
                  requirements of this Declaration;

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

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

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

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

SECTION 3.12. Certain Rights of the Institutional Trustee.

                  (a)      Subject to the provisions of Section 3.11:

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

                           (ii)     any direction or act of the Sponsor or the
         Regular Trustees contemplated by this Declaration shall be sufficiently
         evidenced by an Officer's Certificate;

                                       21
<PAGE>

                           (iii)    whenever in the administration of this
         Declaration, the Institutional Trustee shall deem it desirable that a
         matter be proved or established before taking, suffering or omitting
         any action hereunder, the Institutional Trustee (unless other evidence
         is herein specifically prescribed) may, in the absence of bad faith on
         its part, and, if the Trust is excluded from the definition of
         Investment Company solely by means of Rule 3a-5, subject to the
         requirements of Rule 3a-5, request and conclusively rely upon an
         Officer's Certificate, which, upon receipt of such request, shall be
         promptly delivered by the Sponsor or the Regular Trustees;

                           (iv)     the Institutional Trustee may consult with
         counsel or other experts of its selection and the advice or opinion of
         such counsel and experts with respect to legal matters or advice within
         the scope of such experts' area of expertise shall be full and complete
         authorization and protection in respect of any action taken, suffered
         or omitted by it hereunder in good faith and in accordance with such
         advice or opinion, such counsel may be counsel to the Sponsor or any of
         its Affiliates, and may include any of its employees. The Institutional
         Trustee shall have the right at any time to seek instructions
         concerning the administration of this Declaration from any court of
         competent jurisdiction;

                           (v)      the Institutional Trustee shall be under no
         obligation to exercise any of the rights or powers vested in it by this
         Declaration at the request or direction of any Holder, unless such
         Holder shall have provided to the Institutional Trustee security and
         indemnity, reasonably satisfactory to the Institutional Trustee,
         against the costs, expenses (including attorneys' fees and expenses and
         the expenses of the Institutional Trustee's agents, nominees or
         custodians) and liabilities that might be incurred by it in complying
         with such request or direction, including such reasonable advances as
         may be requested by the Institutional Trustee provided, that, nothing
         contained in this Section 3.12(a)(v) shall be taken to relieve the
         Institutional Trustee, upon the occurrence of an Event of Default, of
         its obligation to exercise the rights and powers vested in it by this
         Declaration;

                           (vi)     the Institutional Trustee shall not be bound
         to make any investigation into the facts or matters stated in any
         resolution, certificate, statement, instrument, opinion, report,
         notice, request, direction, consent, order, bond, debenture, note,
         other evidence of indebtedness or other paper or document, but the
         Institutional Trustee, in its discretion, may make such further inquiry
         or investigation into such facts or matters as it may see fit;

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

                           (viii)   any action taken by the Institutional
         Trustee or its agents hereunder shall bind the Trust and the Holders,
         and the signature of the Institutional Trustee or its agents alone
         shall be sufficient and effective to perform any such action and no
         third party shall be required to inquire as to the authority of the
         Institutional Trustee to so act or as to its

                                       22
<PAGE>

         compliance with any of the terms and provisions of this Declaration,
         both of which shall be conclusively evidenced by the Institutional
         Trustee's or its agent's taking such action; and

                           (ix)     whenever in the administration of this
         Declaration the Institutional Trustee shall deem it desirable to
         receive instructions with respect to enforcing any remedy or right or
         taking any other action hereunder, the Institutional Trustee (i) may
         request instructions from the Holders of the Securities which
         instructions may only be given by the Holders of the same proportion in
         liquidation amount of the Securities as would be entitled to direct the
         Institutional Trustee under the terms of the Securities in respect of
         such remedy, right or action, (ii) may refrain from enforcing such
         remedy or right or taking such other action until such instructions are
         received, and (iii) shall be protected in conclusively relying on, or
         acting in accordance with, such instructions.

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

SECTION 3.13. Delaware Trustee.

                  Notwithstanding any other provision of this Declaration other
than Section 5.2, the Delaware Trustee shall not be entitled to exercise any
powers, nor shall the Delaware Trustee have any of the duties and
responsibilities of the Trustees (except as required under the Business Trust
Act) described in this Declaration. Except as set forth in Section 5.2, the
Delaware Trustee shall be a Trustee for the sole and limited purpose of
fulfilling the requirements of Section 3807(a) of the Business Trust Act.

SECTION 3.14. Execution of Documents.

                  Unless otherwise determined by the Regular Trustees, and
except as otherwise required by the Business Trust Act with respect to the
Certificate of Trust or otherwise provided herein, any Regular Trustee is
authorized to execute on behalf of the Trust any documents that the Regular
Trustees have the power and authority to execute pursuant to this Declaration.

SECTION 3.15. Not Responsible for Recitals or Issuance of Securities.

                  The recitals contained in this Declaration and the Securities
shall be taken as the statements of the Sponsor, and the Trustees do not assume
any responsibility for their correctness. The Trustees make no representations
as to the value or condition of the property of the Trust or any part thereof.
The Trustees make no representations as to the validity or sufficiency of this
Declaration, the Debentures or the Securities.

                                       23
<PAGE>

SECTION 3.16. Duration of Trust.

                  The Trust, unless terminated pursuant to the provisions of
Article VIII hereof, shall have existence for fifty-five (55) years from the
Closing Date.

SECTION 3.17. Mergers.

                  (a)      The Trust may not consolidate, amalgamate, merge with
or into, or be replaced by, or convey, transfer or lease its properties and
assets substantially as an entirety to any corporation or other body, except as
described in Section 3.17(b) and (c).

                  (b)      The Trust may, with the consent of the Regular
Trustees or, if there are more than two, a majority of the Regular Trustees and
without the consent of the Holders of the Securities, the Delaware Trustee or
the Institutional Trustee, consolidate, amalgamate, merge with or into, or be
replaced by, or convey, transfer or lease its property and assets substantially
as an entirety to, a trust organized as such under the laws of any state;
provided that:

                           (i)      such successor entity (the "Successor
         Entity") either:

                                    (A)      expressly assumes all of the
                  obligations of the Trust under the Securities; or

                                    (B)      substitutes for the Securities
                  other securities having substantially the same terms as the
                  Securities (the "Successor Securities") so long as the
                  Successor Securities rank the same as the Securities rank with
                  respect to Distributions and payments upon liquidation,
                  redemption and otherwise;

                           (ii)     the Debenture Issuer expressly acknowledges
         a trustee of the Successor Entity that possesses the same powers and
         duties as the Institutional Trustee as the holder of the Debentures;

                           (iii)    the Preferred Securities or any Successor
         Securities are listed, or any Successor Securities will be listed upon
         notification of issuance, on any national securities exchange or with
         another organization on which the Preferred Securities are then so
         listed or quoted;

                           (iv)     such merger, consolidation, amalgamation,
         replacement, conveyance, transfer or lease does not cause the Preferred
         Securities (including any Successor Securities) to be downgraded by any
         nationally recognized statistical rating organization;

                           (v)      such merger, consolidation, amalgamation,
         replacement, conveyance, transfer or lease does not adversely affect
         the rights, preferences and privileges of the Holders of the Securities
         (including any Successor Securities) in any material respect (other
         than with respect to any dilution of such Holders' interests in the new
         entity);

                           (vi)     such Successor Entity has a purpose
         identical to that of the Trust;

                                       24
<PAGE>

                           (vii)    prior to such merger, consolidation,
         amalgamation, replacement, conveyance, transfer or lease, the Sponsor
         has received an opinion of a nationally recognized independent counsel
         to the Trust experienced in such matters to the effect that:

                                    (A)      such merger, consolidation,
                  amalgamation, replacement, conveyance, transfer or lease does
                  not adversely affect the rights, preferences and privileges of
                  the Holders of the Securities (including any Successor
                  Securities) in any material respect (other than with respect
                  to any dilution of the Holders' interest in the new entity);

                                    (B)      following such merger,
                  consolidation, amalgamation, replacement, conveyance, transfer
                  or lease neither the Trust nor the Successor Entity will be
                  required to register as an Investment Company; and

                                    (C)      following such merger,
                  consolidation, amalgamation, replacement, conveyance, transfer
                  or lease the Trust (or the Successor Entity) will continue to
                  be classified as a grantor trust for United States federal
                  income tax purposes; and

                           (viii)   the Sponsor guarantees the obligations of
         such Successor Entity under the Successor Securities at least to the
         extent provided by the Preferred Securities Guarantee and the Common
         Securities Guarantee.

                  (c)      Notwithstanding Section 3.17(b), the Trust shall not,
except with the consent of Holders of 100% in liquidation amount of the
Securities, consolidate, amalgamate, merge with or into, or be replaced by or
convey, transfer or lease its properties and assets substantially as an entirety
to any other entity or permit any other entity to consolidate, amalgamate, merge
with or into, or replace it, if in the opinion of a nationally recognized
independent tax counsel experienced in such matters, such consolidation,
amalgamation, merger, replacement, conveyance, transfer or lease would cause the
Trust or the Successor Entity to be classified as other than a grantor trust for
United States federal income tax purposes.

                                   ARTICLE IV

                                     SPONSOR

SECTION 4.1. Sponsor's Purchase of Common Securities.

                  On the Closing Date, the Sponsor will purchase all of the
Common Securities issued by the Trust, in an amount at least equal to 3% of the
capital of the Trust, at the same time as the Preferred Securities are sold.

SECTION 4.2. Responsibilities of the Sponsor.

                  In connection with the issue and sale of the Preferred
Securities, the Sponsor shall have the exclusive right and responsibility to
engage in the following activities:

                                       25
<PAGE>

                  (a)      at the sole discretion of the Sponsor, to prepare for
filing by the Trust with the Commission a registration statement on Form S-3 or
on another appropriate form, and a registration statement under Rule 462(b) of
the Securities Act, including any pre-effective or post-effective amendments
thereto, in relation to the Preferred Securities;

                  (b)      to determine the states in which to take appropriate
action to qualify or register for sale all or part of the Preferred Securities
and to do any and all such acts, other than actions which must be taken by the
Trust, and advise the Trust of actions it must take, and prepare for execution
and filing any documents to be executed and filed by the Trust, as the Sponsor
deems necessary or advisable in order to comply with the applicable laws of any
such States;

                  (c)      at the sole discretion of the Sponsor, to prepare for
filing by the Trust an application to the New York Stock Exchange or any other
national stock exchange or the Nasdaq National Market for listing upon notice of
issuance of any Preferred Securities; and

                  (d)      to prepare for filing by the Trust with the
Commission a registration statement on Form 8-A relating to the registration of
the Preferred Securities under Section 12(b) or 12(g) of the Exchange Act,
including any amendments thereto, if the Sponsor in its sole discretion
determines that such a filing is necessary or appropriate; and

                  (e)      to negotiate the terms of the Underwriting Agreement
providing for the sale of the Preferred Securities.

SECTION 4.3. Right to Proceed.

                  The Sponsor acknowledges the rights of the Holders to
institute a Direct Action as set forth in Section 3.10(e) hereto.

                                   ARTICLE V

                                    TRUSTEES

SECTION 5.1. Number of Trustees.

                  The number of Trustees initially shall be five (5), and:

                  (a)      at any time before the issuance of any Securities,
the Sponsor may, by written instrument, increase or decrease the number of
Trustees; and

                  (b)      after the issuance of any Securities, the number of
Trustees may be increased or decreased only by, and Trustees may be approved,
removed or replaced only by, the vote of the Holders of a Majority in
liquidation amount of the Common Securities voting as a class at a meeting of
the Holders of the Common Securities; provided, however, that, the number of
Trustees shall in no event be less than two (2); provided further, that (1) one
Trustee, in the case of a natural person, shall be a person who is a resident of
the State of Delaware or that, if not a natural person, is an entity which has
its principal place of business in the State of Delaware; (2) there shall be at
least one

                                       26
<PAGE>

Trustee who is an employee or officer of, or is affiliated with the Sponsor (a
"Regular Trustee"); and (3) one Trustee shall be the Institutional Trustee for
so long as this Declaration is required to qualify as an indenture under the
Trust Indenture Act, and such Trustee may also serve as Delaware Trustee if it
meets the applicable requirements.

SECTION 5.2. Delaware Trustee.

                  If required by the Business Trust Act, one Trustee (the
"Delaware Trustee") shall be:

                  (a)      a natural person who is a resident of the State of
Delaware; or

                  (b)      if not a natural person, an entity which has its
principal place of business in the State of Delaware, and otherwise meets the
requirements of applicable law,

provided that, if the Institutional Trustee has its principal place of business
in the State of Delaware and otherwise meets the requirements of applicable law,
then the Institutional Trustee shall also be the Delaware Trustee and Section
3.13 shall have no application.

                  The initial Delaware Trustee shall be Bank One Delaware, Inc.

SECTION 5.3. Institutional Trustee; Eligibility.

                  (a)      There shall at all times be one Trustee that shall
act as Institutional Trustee, which shall:

                           (i)      not be an Affiliate of the Sponsor; and

                           (ii)     be a corporation organized and doing
         business under the laws of the United States of America or any state or
         territory thereof or of the District of Columbia, or a corporation or
         Person permitted by the Commission to act as an institutional trustee
         under the Trust Indenture Act, authorized under such laws to exercise
         corporate trust powers, having a combined capital and surplus of at
         least Fifty million U.S. dollars ($50,000,000), and subject to
         supervision or examination by federal, state, territorial or District
         of Columbia authority. If such corporation publishes reports of
         condition at least annually, pursuant to law or to the requirements of
         the supervising or examining authority referred to above, then for the
         purposes of this Section 5.3(a)(ii), the combined capital and surplus
         of such corporation shall be deemed to be its combined capital and
         surplus as set forth in its most recent report of condition so
         published.

                  (b)      If at any time the Institutional Trustee shall cease
to be eligible to so act under Section 5.3(a), the Institutional Trustee shall
immediately resign in the manner and with the effect set forth in Section
5.7(c).

                  (c)      If the Institutional Trustee has or shall acquire any
"conflicting interest" within the meaning of Section 310(b) of the Trust
Indenture Act, the Institutional Trustee and the Holder of the Common Securities
(as if it were the obligor referred to in Section 310(b) of the Trust Indenture
Act) shall in all respects comply with the provisions of Section 310(b) of the
Trust Indenture Act.

                                       27
<PAGE>

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

                  (e)      The initial Institutional Trustee shall be Bank One,
N.A.

                  (f)      Any action taken by Holders of Common Securities
pursuant to this Article V shall be taken at a meeting of Holders of Common
Securities convened for such purpose or by written consent as provided in
Section 12.2.

                  (g)      No amendment may be made to this Article V that would
change any right with respect to the number, existence or appointment and
removal of Trustees, except with the consent of each Holder of Common
Securities.

SECTION 5.4. Certain Qualifications of Regular Trustees and Delaware Trustee
Generally.

                  Each Regular Trustee and the Delaware Trustee (unless the
Institutional Trustee also acts as Delaware Trustee) shall be either a natural
person who is at least 21 years of age or a legal entity that shall act through
one or more Authorized Officers.

SECTION 5.5. Regular Trustees.

                  The initial Regular Trustees shall be Raymond D. Fortin, Mark
Chancy and Kenneth R. Houghton.

                  (a)      Except as expressly set forth in this Declaration and
except if a meeting of the Regular Trustees is called with respect to any matter
over which the Regular Trustees have power to act, any power of the Regular
Trustees may be exercised by, or with the consent of, any one of such Regular
Trustees.

                  (b)      Unless otherwise determined by the Regular Trustees,
and except as otherwise required by the Business Trust Act or applicable law,
any Regular Trustee is authorized to execute on behalf of the Trust any
documents which the Regular Trustees have the power and authority to cause the
Trust to execute pursuant to Section 3.8.

                  (c)      A Regular Trustee may, by power of attorney
consistent with applicable law, delegate to any other natural person over the
age of 21 his or her power for the purposes of signing any documents which the
Regular Trustees have power and authority to cause the Trust to execute pursuant
to Section 3.8.

SECTION 5.6. [Reserved].

SECTION 5.7. Appointment, Removal and Resignation of Trustees.

                  (a)      Subject to Section 5.7(b), Trustees may be appointed
or removed without cause at any time except during an event of default:

                                       28
<PAGE>

                           (i)      until the issuance of any Securities, by
         written instrument executed by the Sponsor; and

                           (ii)     after the issuance of any Securities, by
         vote of the Holders of a Majority in liquidation amount of the Common
         Securities voting as a class at a meeting of the Holders of the Common
         Securities.

                  (b)      (i)      The Trustee that acts as Institutional
Trustee shall not be removed in accordance with Section 5.7(a) until a Successor
Institutional Trustee has been appointed and has accepted such appointment by
written instrument executed by such Successor Institutional Trustee and
delivered to the Regular Trustees, the Sponsor and the Institutional Trustee
being removed; and

                           (ii)     the Trustee that acts as Delaware Trustee
                  shall not be removed in accordance with Section 5.7(a) until a
                  successor Trustee possessing the qualifications to act as
                  Delaware Trustee under Sections 5.2 and 5.4 (a "Successor
                  Delaware Trustee") has been appointed and has accepted such
                  appointment by written instrument executed by such Successor
                  Delaware Trustee and delivered to the Regular Trustees, the
                  Sponsor and the Delaware Trustee being removed.

                  (c)      A Trustee appointed to office shall hold office until
his or her successor shall have been appointed or until his or her death,
removal or resignation. Any Trustee may resign from office (without need for
prior or subsequent accounting) by an instrument in writing signed by the
Trustee and delivered to the Sponsor and the Trust, which resignation shall take
effect upon such delivery or upon such later date as is specified therein;
provided, however, that:

                           (i)      No such resignation of the Trustee that acts
         as the Institutional Trustee shall be effective:

                                    (A)      until a Successor Institutional
                  Trustee has been appointed and has accepted such appointment
                  by instrument executed by such Successor Institutional Trustee
                  and delivered to the Trust, the Sponsor and the resigning
                  Institutional Trustee; or

                                    (B)      if the Trust is excluded from the
                  definition of an Investment Company solely by reason of Rule
                  3a-5, until the assets of the Trust have been completely
                  liquidated and the proceeds thereof distributed to the holders
                  of the Securities; and

                           (ii)     no such resignation of the Trustee that acts
         as the Delaware Trustee shall be effective until a Successor Delaware
         Trustee has been appointed and has accepted such appointment by
         instrument executed by such Successor Delaware Trustee and delivered to
         the Trust, the Sponsor and the resigning Delaware Trustee.

                  (d)      The Holders of the Common Securities shall use their
best efforts to promptly appoint a Successor Delaware Trustee or Successor
Institutional Trustee as the case may be if the Institutional Trustee or the
Delaware Trustee delivers an instrument of resignation in accordance with this
Section 5.7.

                                       29
<PAGE>

                  (e)      If no Successor Institutional Trustee or Successor
Delaware Trustee shall have been appointed and accepted appointment as provided
in this Section 5.7 within 60 days after delivery of an instrument of
resignation or removal, the Institutional Trustee or Delaware Trustee resigning
or being removed, as applicable, may petition any court of competent
jurisdiction for appointment of a Successor Institutional Trustee or Successor
Delaware Trustee. Such court may thereupon, after prescribing such notice, if
any, as it may deem proper, appoint a Successor Institutional Trustee or
Successor Delaware Trustee, as the case may be.

                  (f)      The Sponsor shall provide notice to the Institutional
Trustee of any resignation or removal of a Regular Trustee.

SECTION 5.8. Vacancies among Trustees.

                  If a Trustee ceases to hold office for any reason and the
number of Trustees is not reduced pursuant to Section 5.1, or if the number of
Trustees is increased pursuant to Section 5.1, a vacancy shall occur. A
resolution certifying the existence of such vacancy by the Regular Trustees or,
if there are more than two, a majority of the Regular Trustees shall be
conclusive evidence of the existence of such vacancy. The vacancy shall be
filled with a Trustee appointed in accordance with Section 5.7.

SECTION 5.9. Effect of Vacancies.

                  The death, resignation, retirement, removal, bankruptcy,
dissolution, liquidation, incompetence or incapacity to perform the duties of a
Trustee, or any one of them, shall not operate to annul the Trust. Whenever a
vacancy in the number of Regular Trustees shall occur, until such vacancy is
filled by the appointment of a Regular Trustee in accordance with Section 5.7,
the Regular Trustees in office, regardless of their number, shall have all the
powers granted to the Regular Trustees and shall discharge all the duties
imposed upon the Regular Trustees by this Declaration.

SECTION 5.10. Meetings.

                  If there is more than one Regular Trustee, meetings of the
Regular Trustees may be held from time to time upon the call of any Regular
Trustee. Regular meetings of the Regular Trustees may be held at a time and
place fixed by resolution of the Regular Trustees. Notice of any in-person
meeting of the Regular Trustees shall be hand delivered or otherwise delivered
in writing (including by facsimile, with a hard copy by overnight courier) not
less than 48 hours before such meeting. Notice of any telephonic meetings of the
Regular Trustees or any committee thereof shall be hand delivered or otherwise
delivered in writing (including by facsimile, with a hard copy by overnight
courier) not less than 24 hours before a meeting. Notices shall contain a brief
statement of the time, place and anticipated purposes of the meeting. The
presence (whether in person or by telephone) of a Regular Trustee at a meeting
shall constitute a waiver of notice of such meeting except where a Regular
Trustee attends a meeting for the express purpose of objecting to the
transaction of any activity on the ground that the meeting has not been lawfully
called or convened. Unless provided otherwise in this Declaration, any action of
the Regular Trustees may be taken at a meeting by vote of a majority of the
Regular Trustees present (whether in person or by telephone) and eligible to
vote with respect to such matter, provided that a Quorum is present, or without
a meeting by the

                                       30
<PAGE>

unanimous written consent of the Regular Trustees. Notwithstanding the
foregoing, any action which may be taken at a meeting of the Regular Trustees
(or a committee thereof) may be taken pursuant to a unanimous written consent of
the Regular Trustees (or committee thereof), the execution of such consent to be
deemed a waiver by such Regular Trustee of any prior notice required in
connection with such action. In the event there is only one Regular Trustee, any
and all action of such Regular Trustee shall be evidenced by a written consent
of such Regular Trustee.

SECTION 5.11. Delegation of Power.

                  (a)      Any Regular Trustee may, by power of attorney
consistent with applicable law, delegate to any other natural person over the
age of 21 his or her power for the purpose of executing any documents
contemplated in Section 3.8, including any registration statement or amendment
thereto filed with the Commission, or making any other governmental filing; and

                  (b)      The Regular Trustees shall have power to delegate
from time to time to such of their number or to officers of the Trust the doing
of such things and the execution of such instruments either in the name of the
Trust or the names of the Regular Trustees or otherwise as the Regular Trustees
may deem expedient, to the extent such delegation is not prohibited by
applicable law or contrary to the provisions of the Trust, as set forth herein.

SECTION 5.12. Merger, Conversion, Consolidation or Succession to Business.

                  Any corporation into which the Institutional Trustee or the
Delaware Trustee, as the case may be, may be merged or converted or with which
either may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Institutional Trustee or the Delaware
Trustee, as the case may be, shall be a party, or any corporation succeeding to
all or substantially all the corporate trust business of the Institutional
Trustee or the Delaware Trustee, as the case may be, shall be the successor of
the Institutional Trustee or the Delaware Trustee, as the case may be,
hereunder, provided such corporation shall be otherwise qualified and eligible
under this Article, without the execution or filing of any paper or any further
act on the part of any of the parties hereto.

SECTION 5.13. Appointment of Authenticating Agent.

                  The Institutional Trustee may appoint an Authenticating Agent
or Agents, which may include any Affiliate of the Sponsor, with respect to the
Securities which shall be authorized to act on behalf of the Institutional
Trustee to authenticate the Securities issued upon original issue and upon
exchange, registration of transfer or partial redemption thereof or pursuant to
Section 9.2, and Securities so authenticated shall be entitled to the benefits
of this Declaration and shall be valid and obligatory for all purposes as if
authenticated by the Institutional Trustee hereunder. Wherever reference is made
in this Declaration to the authentication and delivery of the Securities by the
Institutional Trustee or the Institutional Trustee's certificate of
authentication, such reference shall be deemed to include authentication and
delivery on behalf of the Institutional Trustee by an Authenticating Agent. Each
Authenticating Agent shall be acceptable to the Sponsor and shall at all times
be a corporation organized and doing business under the laws of the United
States of America, or of any state or territory or the District of Columbia,
authorized under such laws to act as

                                       31
<PAGE>

Authenticating Agent, having a combined capital and surplus of not less than
$50,000,000 and subject to supervision or examination by federal or state
authority. If such Authenticating Agent publishes reports of condition at least
annually, pursuant to law or to the requirements of said supervising or
examining authority, then for the purposes of this Section the combined capital
and surplus of such Authenticating Agent shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so
published. If at any time an Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, such Authenticating Agent shall
resign immediately in the manner and with the effect specified in this Section.

                  Any corporation into which an Authenticating Agent may be
merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which such
Authenticating Agent shall be a party, or any corporation succeeding to all or
substantially all of the corporate trust business of an Authenticating Agent
shall be the successor Authenticating Agent hereunder, provided such corporation
shall be otherwise eligible under this Section, without the execution or filing
of any paper or any further act on the part of the Institutional Trustee or the
Authenticating Agent.

                  An Authenticating Agent may resign at any time by giving
written notice thereof to the Institutional Trustee and to the Sponsor. The
Institutional Trustee may at any time terminate the agency of an Authenticating
Agent by giving written notice thereof to such Authenticating Agent and to the
Sponsor. Upon receiving such a notice of resignation or upon such a termination,
or in case at any time such Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, the Institutional Trustee may
appoint a successor Authenticating Agent which shall be acceptable to the
Sponsor and shall give notice of such appointment in the manner provided in
Section 14.1 to all holders of Securities. Any successor Authenticating Agent
upon acceptance of its appointment hereunder shall become vested with all the
rights, powers and duties of its predecessor hereunder, with like effect as if
originally named as an Authenticating Agent. No successor Authenticating Agent
shall be appointed unless eligible under the provision of this Section.

                  The Sponsor agrees to pay to each Authenticating Agent from
time to time reasonable compensation for its services under this Section.

                  If an appointment is made pursuant to this Section, the
Securities may have endorsed thereon, in addition to the Institutional Trustee's
certificate of authentication, an alternative certificate of authentication in
the following form:

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

Dated:

                                              ---------------------------------
                                              As Institutional Trustee

                                              By:
                                                 ------------------------------
                                                 As Authenticating Agent

                                              By:
                                                 ------------------------------
                                                 Authorized Officer

                                       32
<PAGE>

                                   ARTICLE VI

                                  DISTRIBUTIONS

SECTION 6.1. Distributions.

                  Holders shall receive Distributions (as defined herein),
redemption payments and liquidation distributions in accordance with the
applicable terms of the relevant Holder's Securities. Distributions shall be
made on the Preferred Securities and the Common Securities in accordance with
the preferences set forth in their respective terms. If and to the extent that
the Debenture Issuer makes a payment of interest (including Compounded Interest
(as defined in the Indenture) and Additional Sums (as defined in the
Indenture)), premium and/or principal on the Debentures held by the
Institutional Trustee (the amount of any such payment being a "Payment Amount"),
the Institutional Trustee shall and is directed, to the extent funds are
available for that purpose, to make or cause to be made a distribution (a
"Distribution") of the Payment Amount to Holders.

                                  ARTICLE VII

                             ISSUANCE OF SECURITIES

SECTION 7.1. General Provisions Regarding Securities.

                  (a)      The Regular Trustees shall on behalf of the Trust
issue one class of preferred securities representing, in fully registered form,
beneficial ownership interests in the assets of the Trust having such terms as
are set forth in Annex I (the "Preferred Securities") and one class of common
securities representing beneficial ownership interests in the assets of the
Trust having such terms as are set forth in Annex I (the "Common Securities.")
The Trust shall issue no securities or other interests in the assets of the
Trust other than the Preferred Securities and the Common Securities.

                  (b)      The Certificates shall be signed on behalf of the
Trust by a Regular Trustee. Such signature shall be the manual or facsimile
signature of any present or any future Regular Trustee. Typographical and other
minor errors or defects in any such reproduction of any such signature shall not
affect the validity of any Certificate. In case any Regular Trustee of the Trust
who shall have signed (either by manual or facsimile signature) any of the
Securities shall cease to be such Regular Trustee before the Certificates so
signed shall be delivered by the Trust, such Certificates nevertheless may be
delivered as though the person who signed such Certificates had not ceased to be
such Regular Trustee; and any Certificate may be signed on behalf of the Trust
by such persons who, at the actual date of execution of such Security, shall be
the Regular Trustees of the Trust, although at the date of the execution and
delivery of this Declaration any such person was not such a Regular Trustee.
Certificates shall be printed, lithographed or engraved or may be produced in
any other manner as is reasonably acceptable to the Regular Trustees, as
evidenced by their execution thereof,

                                       33
<PAGE>

and may have such letters, numbers or other marks of identification or
designation and such legends or endorsements as the Regular Trustees may deem
appropriate, or as may be required to comply with any law or with any rule or
regulation of any stock exchange on which Securities may be listed, or to
conform to usage.

                  (c)      The consideration received by the Trust for the
issuance of the Securities shall constitute a contribution to the capital of the
Trust and shall not constitute a loan to the Trust.

                  (d)      Upon issuance of the Securities as provided in this
Declaration, the Securities so issued shall be deemed to be validly issued,
fully paid and non-assessable.

                  (e)      Every Person, by virtue of having become a Holder or
a Preferred Security Beneficial Owner in accordance with the terms of this
Declaration, shall be deemed to have expressly assented and agreed to the terms
of, and shall be bound by, this Declaration.

SECTION 7.2. Execution and Delivery of Securities Certificates.

                  At the time of delivery of the Securities, the Regular
Trustees shall cause Certificates to be authenticated by the Institutional
Trustee on behalf of the Trust and delivered to or upon the written order of the
Trust, signed by a Regular Trustee without further corporate action by the
Sponsor, in authorized denominations.

                  A Security shall not be valid until authenticated by the
manual signature of an authorized officer of the Institutional Trustee. Such
signature shall be conclusive evidence that the Security has been authenticated
under this Declaration. The Institutional Trustee's certificates of
authentication shall be substantially in the form set forth in Exhibits A-1 and
A-2.

SECTION 7.3. Paying Agent.

                  The Paying Agent shall make Distributions to Holders from the
Property Account and shall report the amounts of such Distributions to the
Institutional Trustee and the Regular Trustees. Any Paying Agent shall have the
revocable power to withdraw funds from the Property Account for the purpose of
making the Distributions referred to above. The Institutional Trustee may revoke
such power and remove the Paying Agent in its sole discretion. The Paying Agent
shall initially be Bank One, N.A., and any co-paying agent chosen by Bank One,
N.A., and reasonably acceptable to the Regular Trustees. Any Person acting as
Paying Agent shall be permitted to resign as Paying Agent upon 30 days' written
notice to the Regular Trustees and the Institutional Trustee. In the event that
Bank One, N.A. shall no longer be the Paying Agent or a successor Paying Agent
shall resign or its authority to act be revoked, the Institutional Trustee shall
appoint a successor that is reasonably acceptable to the Regular Trustees to act
as Paying Agent (which shall be a bank or trust company). Such successor Paying
Agent or any additional Paying Agent shall execute and deliver to the Trustees
an instrument in which such successor Paying Agent or additional Paying Agent
shall agree with the Trustees that as Paying Agent, such successor Paying Agent
or additional Paying Agent will hold all sums, if any, held by it for payment to
the Holders in trust for the benefit of the Holders entitled thereto until such
sums shall be paid to such Holders, will give the Institutional Trustee notice
of any default by the Trust (or any other obligor on the Securities) in the
making of any payment on the

                                       34
<PAGE>

Securities and will, at any time during the continuance of any such default,
upon the written request of the Institutional Trustee, forthwith pay to the
Institutional Trustee all sums so held in trust by such Paying Agent. The Paying
Agent shall return all unclaimed funds to the Institutional Trustee and upon
removal of a Paying Agent such Paying Agent shall also return all funds in its
possession to the Institutional Trustee. The provisions of Sections 3.10, 3.11
and 10.4 herein shall also apply to Bank One, N.A. in its role as Paying Agent,
for so long as Bank One, N.A. shall act as Paying Agent and, to the extent
applicable, to any other Paying Agent appointed hereunder. Any reference in this
Declaration to the Paying Agent shall include any co-paying agent unless the
context requires otherwise.

                                  ARTICLE VIII

                              DISSOLUTION OF TRUST

SECTION 8.1. Dissolution of Trust.

                  (a)      The Trust shall dissolve upon the earliest of (each,
a "Dissolution Event"):

                           (i)      _________________;

                           (ii)     the bankruptcy of the Sponsor;

                           (iii)    the filing of a certificate of dissolution
         or its equivalent with respect to the Sponsor; the filing of a
         certificate of cancellation with respect to the Trust after having
         obtained the consent of a Majority in liquidation amount of the
         Securities affected thereby voting together as a single class to file
         such certificate of cancellation, or the revocation of the Sponsor's
         charter and the expiration of 90 days after the date of revocation
         without a reinstatement thereof;

                           (iv)     the liquidation of the Trust in accordance
         with the terms of the Securities and the distribution of all of the
         Debentures endorsed thereon in exchange for all of the Securities;

                           (v)      the entry of a decree of judicial
         dissolution of the Holder of the Common Securities, the Sponsor or the
         Trust;

                           (vi)     when all of the Securities shall have been
         called for redemption and the amounts necessary for redemption thereof
         shall have been paid to the Holders in accordance with the terms of the
         Securities; or

                           (vii)    before the issuance of any Securities, with
         the consent of all of the Regular Trustees and the Sponsor.

                  (b)      As soon as is practicable after the occurrence of an
event referred to in Section 8.1(a), the Trustees shall file a certificate of
cancellation with the Secretary of State of the State of Delaware and the Trust
shall terminate.

                                       35
<PAGE>

                  (c)      The provisions of Section 3.10 and Article X shall
survive the dissolution of the Trust.

                                   ARTICLE IX

                              TRANSFER OF INTERESTS

SECTION 9.1. Transfer of Securities.

                  (a)      Securities may only be transferred, in whole or in
part, in accordance with the terms and conditions set forth in this Declaration
and in the terms of the Securities. Any transfer or purported transfer of any
Security not made in accordance with this Declaration shall be null and void.

                  (b)      Subject to this Article IX, Preferred Securities
shall be freely transferable.

                  (c)      Subject to this Article IX, the Debenture Issuer and
any Affiliate may only transfer Common Securities to an Affiliate; provided that
any such transfer shall be subject to the condition that the transferor shall
have obtained (1) either a ruling from the Internal Revenue Service or an
unqualified written opinion addressed to the Trust and delivered to the Trustees
of a nationally recognized independent tax counsel experienced in such matters
to the effect that such transfer will not (i) cause the Trust to be treated as
issuing a class of interests in the Trust differing from the class of interests
represented by the Common Securities originally issued to the Debenture Issuer,
(ii) result in the Trust's acquiring or disposing of, or being deemed to have
acquired or disposed of, an asset, or (iii) result in or cause the Trust to be
treated as anything other than a grantor trust for United States federal income
tax purposes and (2) an unqualified written opinion addressed to the Trust and
delivered to the Trustees of a nationally recognized independent counsel
experienced in such matters that such transfer will not cause the Trust to be an
Investment Company or controlled by an Investment Company.

SECTION 9.2. Transfer of Certificates.

                  The Institutional Trustee shall keep or cause to be kept, at
the office or agency maintained pursuant to Section 9.9, a register or registers
for the purpose of registering Certificates and transfers and exchanges of
Preferred Securities Certificates (the "Securities Register") in which, the
registrar designated by the Institutional Trustee (the "Securities Registrar")
with the reasonable consent of the Regular Trustees, subject to such reasonable
regulations as it may prescribe, shall provide for the registration of Preferred
Securities Certificates and Common Securities Certificates (subject to Section
9.1(c) in the case of the Common Securities Certificates) and registration of
transfers and exchanges of Preferred Securities Certificates, which will be
effected without charge to the Holders as herein provided. Bank One, N.A. shall
be the initial Securities Registrar.

                  Upon surrender for registration of transfer of any Preferred
Securities Certificate at the office or agency maintained pursuant to Section
9.9, the Regular Trustees or any one of them shall execute, and the
Institutional Trustee shall authenticate and deliver, in the name of the
designated

                                       36
<PAGE>

transferee or transferees, one or more new Preferred Securities Certificates in
authorized denominations of a like aggregate liquidation amount dated the date
of such authentication.

                  The Preferred Securities Certificates shall be dated the date
of their authentication.

                  The Securities Registrar shall not be required to register the
transfer of (i) any Preferred Securities beginning at the opening of business 15
days before the day of mailing of a notice of redemption and ending at the close
of business on the day of such mailing or (ii) any Preferred Securities selected
for redemption except the unredeemed portion of any Preferred Security being
redeemed in part. At the option of a Holder, Preferred Securities Certificates
may be exchanged for other Preferred Securities Certificates in authorized
denominations of the same class and of a like aggregate liquidation amount upon
surrender of the Preferred Securities Certificates to be exchanged at the office
or agency maintained pursuant to Section 9.9.

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

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

                  The provisions of Sections 3.10, 3.11 and 10.4 herein shall
also apply to Bank One, N.A. in its role as Securities Registrar, for so long as
Bank One, N.A. shall act as Securities Registrar.

SECTION 9.3. Deemed Security Holders.

                  The Trustees and the Securities Registrar may treat the Person
in whose name any Certificate shall be registered on the books and records of
the Trust as the sole holder of such Certificate and of the Securities
represented by such Certificate for purposes of receiving Distributions and for
all other purposes whatsoever and, accordingly, shall not be bound to recognize
any equitable or other claim to or interest in such Certificate or in the
Securities represented by such Certificate on the part of any Person, whether or
not the Trust, the Trustees or the Securities Registrar shall have actual or
other notice thereof.

SECTION 9.4. Book-Entry Interests.

                  Unless otherwise specified in the terms of the Preferred
Securities, the Preferred Securities Certificates, on original issuance, will be
issued in the form of one or more, fully registered, global Preferred Security
Certificates (each a "Global Certificate"), to be delivered to DTC, the initial
Clearing Agency, or its custodian, by, or on behalf of, the Trust. Such Global
Certificates shall initially be registered on the books and records of the Trust
in the name of Cede & Co., the nominee of DTC, and no Preferred Security
Beneficial Owner will receive a definitive Preferred Security

                                       37
<PAGE>

Certificate representing such Preferred Security Beneficial Owner's interests in
such Global Certificates, except as provided in Section 9.7. Unless and until
definitive, fully registered Preferred Security Certificates (the "Definitive
Preferred Security Certificates") have been issued to the Preferred Security
Beneficial Owners pursuant to Section 9.7:

                  (a)      the provisions of this Section 9.4 shall be in full
force and effect;

                  (b)      the Trust, the Trustees, the Securities Registrar and
the Paying Agent shall be entitled to deal with the Clearing Agency for all
purposes of this Declaration (including the payment of Distributions on the
Global Certificates and receiving approvals, votes or consents hereunder) as the
Holder of the Preferred Securities and the sole holder of the Global
Certificates and shall have no obligation to the Preferred Security Beneficial
Owners;

                  (c)      to the extent that the provisions of this Section 9.4
conflict with any other provisions of this Declaration, the provisions of this
Section 9.4 shall control; and

                  (d)      the rights of the Preferred Security Beneficial
Owners shall be exercised only through the Clearing Agency and shall be limited
to those established by law and agreements between such Preferred Security
Beneficial Owners and the Clearing Agency and/or the Clearing Agency
Participants and the Clearing Agency shall receive and transmit payments of
Distributions on the Global Certificates to such Clearing Agency Participants.
DTC will make book-entry transfers among the Clearing Agency Participants and
receive and transmit payments of Distributions on the Global Certificates to
such Clearing Agency Participants; provided, that solely for the purposes of
determining whether the Holders of the requisite amount of Preferred Securities
have voted on any matter provided for in this Declaration, so long as Definitive
Preferred Security Certificates have not been issued, the Trustees may
conclusively rely on, and shall be protected in relying on, any written
instrument (including a proxy) delivered to the Trustees by the Clearing Agency
setting forth the Preferred Security Beneficial Owners' votes or assigning the
right to vote on any matter to any other Persons either in whole or in part.

SECTION 9.5. Notices to Clearing Agency.

                  Whenever a notice or other communication to the Preferred
Security Holders is required under this Declaration, unless and until Definitive
Preferred Security Certificates shall have been issued to the Preferred Security
Beneficial Owners pursuant to Section 9.7, the Trustees shall give all such
notices and communications specified herein to be given to the Preferred
Security Holders to the Clearing Agency and, with respect to any Preferred
Security Certificate registered in the name of a Clearing Agency or the nominee
of a Clearing Agency, the Trustees shall, except as set forth herein, have no
notice obligations to the Preferred Security Beneficial Owners.

SECTION 9.6. Appointment of Successor Clearing Agency.

                  If any Clearing Agency elects to discontinue its services as
securities depositary with respect to the Preferred Securities or is no longer
able to properly discharge its functions, the Regular Trustees may, in their
sole discretion, appoint a successor Clearing Agency with respect to such
Preferred Securities.

                                       38
<PAGE>
SECTION 9.7. Definitive Preferred Security Certificates.

                  If:

                  (a)      a Clearing Agency elects to discontinue its services
or is no longer able to properly discharge its functions as securities
depositary with respect to the Preferred Securities and a successor Clearing
Agency is not appointed within 90 days after such discontinuance or after the
Regular Trustees become aware of such inability pursuant to Section 9.6;

                  (b)      at any time the Clearing Agency ceases to be a
clearing agency registered under the Exchange Act;

                  (c)      the Regular Trustees elect after consultation with
the Sponsor to terminate the book-entry system through the Clearing Agency with
respect to the Preferred Securities; or

                  (d)      an Event of Default relative to the Debentures has
occurred and is continuing,

                  then:

                  (e)      Definitive Preferred Security Certificates shall be
prepared by the Regular Trustees on behalf of the Trust with respect to such
Preferred Securities; and

                  (f)      upon surrender of the Global Certificates by the
Clearing Agency, accompanied by registration instructions, the Regular Trustees
shall cause Definitive Certificates to be delivered to Preferred Security
Beneficial Owners in accordance with the instructions of the Clearing Agency.
Neither the Trustees nor the Trust, or any agents thereof shall be liable for
any delay in delivery of such instructions and each of them may conclusively
rely on and shall be protected in relying on, said instructions of the Clearing
Agency. The Definitive Preferred Security Certificates shall be printed,
lithographed or engraved or may be produced in any other manner as is reasonably
acceptable to the Regular Trustees, as evidenced by their execution thereof, and
may have such letters, numbers or other marks of identification or designation
and such legends or endorsements as the Regular Trustees may deem appropriate,
or as may be required to comply with any law or with any rule or regulation made
pursuant thereto or with any rule or regulation of any stock exchange on which
Preferred Securities may be listed, or to conform to usage.

SECTION 9.8. Mutilated, Destroyed, Lost or Stolen Certificates.

                  If:

                  (a)      any mutilated Certificates should be surrendered to
the Institutional Trustee or the Securities Registrar or if the Institutional
Trustee or the Securities Registrar shall receive evidence to their satisfaction
of the destruction, loss or theft of any Certificate; and

                  (b)      there shall be delivered to the Institutional
Trustee, the Securities Registrar and the Regular Trustees such security or
indemnity as may be required by them to keep each of them harmless,

                                       39
<PAGE>

then, in the absence of notice that such Certificate shall have been acquired by
a bona fide purchaser, any Regular Trustee on behalf of the Trust shall execute,
and upon any Regular Trustee's request, the Institutional Trustee shall
authenticate and deliver, in exchange for or in lieu of any such mutilated,
destroyed, lost or stolen Certificate, a new Certificate of like denomination.
In connection with the issuance of any new Certificate under this Section 9.8,
the Regular Trustees, Institutional Trustee or Securities Registrar may require
the payment of a sum sufficient to cover any tax or other governmental charge
that may be imposed in connection therewith. Any duplicate Certificate issued
pursuant to this Section shall constitute conclusive evidence of an ownership
interest in the relevant Securities, as if originally issued, whether or not the
lost, stolen or destroyed Certificate shall be found at any time.

SECTION 9.9. Maintenance of Office or Agency.

                  The Institutional Trustee shall designate, with the consent of
the Regular Trustees, which consent shall not be unreasonably withheld, an
office or offices or agency or agencies where Preferred Securities Certificates
may be surrendered for registration of transfer or exchange and where notices
and demands to or upon the Trustees in respect of the Securities may be served.
The Corporate Trust Office of Bank One, N.A. is initially designated the office
for such purpose. The Regular Trustees or the Institutional Trustee shall give
prompt written notice to the Sponsor and to the Holders of any change in the
location of the Securities Register or any such office or agency.

                                   ARTICLE X

                           LIMITATION OF LIABILITY OF
                    HOLDERS OF SECURITIES, TRUSTEES OR OTHERS

SECTION 10.1. Liability.

                  (a)      Except as expressly set forth in this Declaration,
the Securities Guarantees and the terms of the Securities, the Sponsor shall not
be:

                           (i)      personally liable for the return of any
         portion of the capital contributions (or any return thereon) of the
         Holders of the Securities which shall be made solely from assets of the
         Trust; and

                           (ii)     be required to pay to the Trust or to any
         Holder of Securities any deficit upon dissolution of the Trust or
         otherwise.

                  (b)      The Debenture Issuer shall be liable for all of the
debts and obligations of the Trust (other than with respect to the Securities)
to the extent not satisfied out of the Trust's assets.

                  (c)      Pursuant to Section 3803(a) of the Business Trust
Act, the Holders shall be entitled to the same limitation of personal liability
extended to stockholders of private corporations for profit organized under the
General Corporation Law of the State of Delaware.

                                       40
<PAGE>

SECTION 10.2. Exculpation.

                  (a)      No Indemnified Person shall be liable, responsible or
accountable in damages or otherwise to the Trust or any Covered Person for any
loss, damage or claim incurred by reason of any act or omission performed or
omitted by such Indemnified Person in good faith on behalf of the Trust and in a
manner such Indemnified Person reasonably believed to be within the scope of the
authority conferred on such Indemnified Person by this Declaration or by law,
except that an Indemnified Person shall be liable for any such loss, damage or
claim incurred by reason of such Indemnified Person's negligence or willful
misconduct with respect to such acts or omissions.

                  (b)      An Indemnified Person shall be fully protected in
relying in good faith upon the records of the Trust and upon such information,
opinions, reports or statements presented to the Trust by any Person as to
matters the Indemnified Person reasonably believes are within such other
Person's professional or expert competence and, if selected by such Indemnified
Person, has been selected by such Indemnified Person with reasonable care by or
on behalf of the Trust, including information, opinions, reports or statements
as to the value and amount of the assets, liabilities, profits, losses, or any
other facts pertinent to the existence and amount of assets from which
Distributions to Holders of Securities might properly be paid.

SECTION 10.3. [Reserved].

SECTION 10.4. Indemnification.

                  (a)      (i)      The Debenture Issuer shall indemnify, to the
full extent permitted by law, any Sponsor Indemnified Person who was or is a
party or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative or
investigative (other than an action by or in the right of the Trust) by reason
of the fact that he is or was a Sponsor Indemnified Person against expenses
(including attorneys' fees and expenses), judgments, fines and amounts paid in
settlement actually and reasonably incurred by him in connection with such
action, suit or proceeding if he acted in good faith and in a manner he
reasonably believed to be in or not opposed to the best interests of the Trust,
and, with respect to any criminal action or proceeding, had no reasonable cause
to believe his or her conduct was unlawful. The termination of any action, suit
or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo
contendere or its equivalent, shall not, of itself, create a presumption that
the Sponsor Indemnified Person did not act in good faith and in a manner which
he reasonably believed to be in or not opposed to the best interests of the
Trust, and, with respect to any criminal action or proceeding, had reasonable
cause to believe that his or her conduct was unlawful.

                           (ii)     The Debenture Issuer shall indemnify, to the
         full extent permitted by law, any Sponsor Indemnified Person who was or
         is a party or is threatened to be made a party to any threatened,
         pending or completed action or suit by or in the right of the Trust to
         procure a judgment in its favor by reason of the fact that he is or was
         a Sponsor Indemnified Person against expenses (including attorneys'
         fees and expenses) actually and reasonably incurred by him in
         connection with the defense or settlement of such action or suit if he
         acted in good faith and in a manner he reasonably believed to be in or
         not opposed to the best interests of the Trust and except that no such
         indemnification shall be made in respect of any

                                       41
<PAGE>

         claim, issue or matter as to which such Sponsor Indemnified Person
         shall have been adjudged to be liable to the Trust unless and only to
         the extent that the Court of Chancery of Delaware or the court in which
         such action or suit was brought shall determine upon application that,
         despite the adjudication of liability but in view of all the
         circumstances of the case, such person is fairly and reasonably
         entitled to indemnity for such expenses which such Court of Chancery or
         such other court shall deem proper.

                           (iii)    Any indemnification under paragraphs (i) and
         (ii) of this Section 10.4(a) (unless ordered by a court) shall be made
         by the Debenture Issuer only as authorized in the specific case upon a
         determination that indemnification of the Sponsor Indemnified Person is
         proper in the circumstances because he has met the applicable standard
         of conduct set forth in paragraphs (i) and (ii). Such determination
         shall be made (1) by the Regular Trustees by a majority vote of a
         quorum consisting of such Regular Trustees who were not parties to such
         action, suit or proceeding, (2) if such a quorum is not obtainable, or,
         even if obtainable, if a quorum of disinterested Regular Trustees so
         directs, by independent legal counsel in a written opinion, or (3) by
         the Holder of the Common Securities.

                           (iv)     Expenses (including attorneys' fees and
         expenses) incurred by a Sponsor Indemnified Person in defending a
         civil, criminal, administrative or investigative action, suit or
         proceeding referred to in paragraphs (i) and (ii) of this Section
         10.4(a) shall be paid by the Debenture Issuer in advance of the final
         disposition of such action, suit or proceeding upon receipt of an
         undertaking by or on behalf of such Sponsor Indemnified Person to repay
         such amount if it shall ultimately be determined that he is not
         entitled to be indemnified by the Debenture Issuer as authorized in
         this Section 10.4(a). Notwithstanding the foregoing, no advance shall
         be made by the Debenture Issuer if a determination is reasonably and
         promptly made (i) by the Regular Trustees by a majority vote of a
         quorum of disinterested Regular Trustees, (ii) if such a quorum is not
         obtainable, or, even if obtainable, if a quorum of disinterested
         Regular Trustees so directs, by independent legal counsel in a written
         opinion or (iii) the Common Security Holder of the Trust, that, based
         upon the facts known to the Regular Trustees, counsel or the Common
         Security Holder at the time such determination is made, such Sponsor
         Indemnified Person acted in bad faith or in a manner that such person
         did not believe to be in or not opposed to the best interests of the
         Trust, or, with respect to any criminal proceeding, that such Sponsor
         Indemnified Person believed or had reasonable cause to believe his or
         her conduct was unlawful. In no event shall any advance be made in
         instances where the Regular Trustees, independent legal counsel or
         Holder of the Common Securities reasonably determine that such person
         deliberately breached his or her duty to the Trust or its Common or
         Preferred Security Holders.

                           (v)      The indemnification and advancement of
         expenses provided by, or granted pursuant to, the other paragraphs of
         this Section 10.4(a) shall not be deemed exclusive of any other rights
         to which those seeking indemnification and advancement of expenses may
         be entitled under any agreement, vote of stockholders or disinterested
         directors of the Debenture Issuer or Preferred Security Holders of the
         Trust or otherwise, both as to action in his or her official capacity
         and as to action in another capacity while holding such office. All
         rights to indemnification under this Section 10.4(a) shall be deemed to
         be provided by a contract between the Debenture Issuer and each Sponsor
         Indemnified Person who serves

                                       42
<PAGE>

         in such capacity at any time while this Section 10.4(a) is in effect.
         Any repeal or modification of this Section 10.4(a) shall not affect any
         rights or obligations then existing.

                           (vi)     The Debenture Issuer or the Trust may
         purchase and maintain insurance on behalf of any person who is or was a
         Sponsor Indemnified Person against any liability asserted against him
         and incurred by him in any such capacity, or arising out of his or her
         status as such, whether or not the Debenture Issuer would have the
         power to indemnify him against such liability under the provisions of
         this Section 10.4(a).

                           (vii)    For purposes of this Section 10.4(a),
         references to "the Trust" shall include, in addition to the resulting
         or surviving entity, any constituent entity (including any constituent
         of a constituent) absorbed in a consolidation or merger, so that any
         person who is or was a director, trustee, officer or employee of such
         constituent entity, or is or was serving at the request of such
         constituent entity as a director, trustee, officer, employee or agent
         of another entity, shall stand in the same position under the
         provisions of this Section 10.4(a) with respect to the resulting or
         surviving entity as he would have with respect to such constituent
         entity if its separate existence had continued.

                           (viii)   The indemnification and advancement of
         expenses provided by, or granted pursuant to, this Section 10.4(a)
         shall, unless otherwise provided when authorized or ratified, continue
         as to a person who has ceased to be a Sponsor Indemnified Person and
         shall inure to the benefit of the heirs, executors and administrators
         of such a person.

                  (b)      The Debenture Issuer agrees to indemnify the (i)
Institutional Trustee, (ii) the Delaware Trustee, (iii) any Affiliate of the
Institutional Trustee and the Delaware Trustee, and (iv) any officers,
directors, shareholders, members, partners, employees, representatives,
custodians, nominees or agents of the Institutional Trustee and the Delaware
Trustee (each of the Persons in (i) through (iv) being referred to as a
"Fiduciary Indemnified Person") for, and to hold each Fiduciary Indemnified
Person harmless against, any and all loss, damage, claim or expense including
taxes (other than taxes based on the income of such Fiduciary Indemnified
Person) incurred without negligence or bad faith on its part, arising out of or
in connection with the acceptance or administration or the trust or trusts
hereunder, including the costs and expenses (including reasonable legal fees and
expenses) of defending itself against or investigating any claim or liability in
connection with the exercise or performance of any of its powers or duties
hereunder. The provisions of this Section 10.4(b) shall survive the satisfaction
and discharge of this Declaration or the resignation or removal of the
Institutional Trustee or the Delaware Trustee, as the case may be.

SECTION 10.5. Outside Businesses.

                  Any Covered Person, the Sponsor, the Delaware Trustee and the
Institutional Trustee may engage in or possess an interest in other business
ventures of any nature or description, independently or with others, similar or
dissimilar to the business of the Trust, and the Trust and the Holders of
Securities shall have no rights by virtue of this Declaration in and to such
independent ventures or the income or profits derived therefrom, and the pursuit
of any such venture, even if competitive with the business of the Trust, shall
not be deemed wrongful or improper. None of the Covered Persons, the Sponsor,
the Delaware Trustee, or the Institutional Trustee shall be obligated to

                                       43
<PAGE>

present any particular investment or other opportunity to the Trust even if such
opportunity is of a character that, if presented to the Trust, could be taken by
the Trust, and any Covered Person, the Sponsor, the Delaware Trustee and the
Institutional Trustee shall have the right to take for its own account
(individually or as a partner or fiduciary) or to recommend to others any such
particular investment or other opportunity. Any Covered Person, the Delaware
Trustee and the Institutional Trustee may engage or be interested in any
financial or other transaction with the Sponsor or any Affiliate of the Sponsor,
or may act as depositary for, trustee or agent for, or act on any committee or
body of holders of, securities or other obligations of the Sponsor or its
Affiliates.

SECTION 10.6. Compensation; Fees.

                  The Sponsor agrees:

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

                  (b)      except as otherwise expressly provided herein, to
reimburse the Trustees upon request for all reasonable expenses, disbursements
and advances incurred or made by the Trustees in accordance with any provision
of this Declaration (including the reasonable compensation and the expenses and
disbursements of their respective agents and counsel), except any such expense,
disbursement or advance as may be attributable to their respective negligence or
bad faith.

                                   ARTICLE XI

                                   ACCOUNTING

SECTION 11.1. Fiscal Year.

                  The fiscal year ("Fiscal Year") of the Trust shall be the
calendar year, or such other year as is required by the Code.

SECTION 11.2. Certain Accounting Matters.

                  (a)      At all times during the existence of the Trust, the
Regular Trustees shall keep, or cause to be kept, full books of account, records
and supporting documents, which shall reflect in reasonable detail, each
transaction of the Trust. The books of account shall be maintained on the
accrual method of accounting, in accordance with generally accepted accounting
principles, consistently applied. The Trust shall use the accrual method of
accounting for United States federal income tax purposes. The books and records
of the Trust, together with a copy of this Declaration and a certified copy of
the Certificate of Trust, or any amendment thereto, shall at all times be
maintained at the principal office of the Trust and shall be open for inspection
for any examination by any Holder or its duly authorized representative for any
purpose reasonably related to its interest in the Trust during normal business
hours.

                                       44
<PAGE>
                  (b)      The Regular Trustees shall cause to be duly prepared
and delivered to each of the Holders of Securities, any annual United States
federal income tax information statement, required by the Code, containing such
information with regard to the Securities held by each Holder as is required by
the Code and the Treasury Regulations. Notwithstanding any right under the Code
to deliver any such statement at a later date, the Regular Trustees shall
endeavor to deliver all such statements within 30 days after the end of each
Fiscal Year of the Trust.

                  (c)      The Regular Trustees shall cause to be duly prepared
and filed with the appropriate taxing authority, an annual United States federal
income tax return, on a Form 1041 or such other form required by United States
federal income tax law, and any other annual income tax returns required to be
filed by the Regular Trustees on behalf of the Trust with any state or local
taxing authority, such returns to be filed as soon as practicable after the end
of each Fiscal Year of the Trust.

SECTION 11.3. Banking.

                  The Trust shall maintain one or more bank accounts in the name
and for the sole benefit of the Trust; provided, however, that all payments of
funds in respect of the Debentures held by the Institutional Trustee shall be
made directly to the Property Account and no other funds of the Trust shall be
deposited in the Property Account. The sole signatories for such accounts shall
be designated by the Regular Trustees; provided, however, that the Institutional
Trustee shall designate the signatories for the Property Account.

SECTION 11.4. Withholding.

                  The Trust, the Regular Trustees and the Paying Agent shall
comply with all withholding requirements under United States federal, state and
local law. The Trust shall request, and the Holders shall provide to the Trust,
such forms or certificates as are necessary to establish an exemption from
withholding with respect to each Holder, and any representations and forms as
shall reasonably be requested by the Trust to assist it in determining the
extent of, and in fulfilling, its withholding obligations. The Regular Trustees
shall file required forms with applicable jurisdictions and, unless an exemption
from withholding is properly established by a Holder, shall remit amounts
withheld with respect to the Holder to applicable jurisdictions. To the extent
that the Trust is required to withhold and pay over any amounts to any authority
with respect to distributions or allocations to any Holder, the amount withheld
shall be deemed to be a distribution in the amount of the withholding to the
Holder. In the event of any claimed over-withholding, Holders shall be limited
to an action against the applicable jurisdiction. If the amount required to be
withheld was not withheld from actual Distributions made, the Trust may reduce
subsequent Distributions by the amount of such withholding.

                                       45
<PAGE>

                                  ARTICLE XII

                             AMENDMENTS AND MEETINGS

SECTION 12.1.     Amendments.

         (a)      Except as otherwise provided in this Declaration or by any
applicable terms of the Securities, this Declaration may be amended only by a
written instrument approved and executed by the Regular Trustees (or, if there
are more than two Regular Trustees a majority of the Regular Trustees); and

                  (i)      if the amendment affects the rights, powers, duties,
         obligations or immunities of the Institutional Trustee, also by the
         Institutional Trustee; and

                  (ii)     if the amendment affects the rights, powers, duties,
         obligations or immunities of the Delaware Trustee, also by the Delaware
         Trustee;

         (b)      no amendment shall be made, and any such purported amendment
shall be void and ineffective:

                  (i)      unless the Institutional Trustee shall have first
         received:

                           (A) an Officer's Certificate from each of the Trust
                  and the Sponsor that such amendment is permitted by, and
                  conforms to, the terms of this Declaration (including the
                  terms of the Securities); and

                           (B) an opinion of counsel (who may be counsel to the
                  Sponsor or the Trust) that such amendment is permitted by, and
                  conforms to, the terms of this Declaration (including the
                  terms of the Securities); and

                  (ii)     to the extent the result of such amendment would be
         to:

                           (A) cause the Trust to fail to continue to be
                  classified for purposes of United States federal income
                  taxation as a grantor trust;

                           (B) reduce or otherwise adversely affect the powers
                  of the Institutional Trustee in contravention of the Trust
                  Indenture Act; or

                           (C) cause the Trust to be deemed to be an Investment
                  Company required to be registered under the Investment Company
                  Act;

         (c)      at such time after the Trust has issued any Securities that
remain outstanding, any amendment that would adversely affect the rights,
privileges or preferences of any Holder of Securities may be effected only with
such additional requirements as may be set forth in the terms of such
Securities;

                                       46
<PAGE>

         (d)      Section 9.1(c) and this Section 12.1 shall not be amended
without the consent of all of the Holders of the Securities;

         (e)      Article IV shall not be amended without the consent of the
Holders of a Majority in liquidation amount of the Common Securities;

         (f)      the rights of the holders of the Common Securities under
Article V to increase or decrease the number of, and appoint and remove Trustees
shall not be amended without the consent of the Holders of a Majority in
liquidation amount of the Common Securities; and

         (g)      notwithstanding Section 12.1(c), this Declaration may be
amended without the consent of the Holders of the Securities to:

                  (i)      cure any ambiguity;

                  (ii)     correct or supplement any provision in this
         Declaration that may be defective or inconsistent with any other
         provision of this Declaration or to make any other provisions with
         respect to matters or questions arising under this Declaration, which
         shall not be inconsistent with other provisions of this Declaration;

                  (iii)    add to the covenants, restrictions or obligations of
         the Sponsor;

                  (iv)     conform to any change in Rule 3a-5 or written change
         in interpretation or application of Rule 3a-5 by any legislative body,
         court, government agency or regulatory authority, which amendment does
         not have a material adverse effect on the right, preferences or
         privileges of the Holders; and

                  (v)      modify, eliminate or add to any provisions of this
         Declaration to such extent as shall be necessary to ensure that the
         Trust will be classified for United States federal income tax purposes
         as a grantor trust at all times that any Securities are outstanding or
         to ensure that the Trust will not be required to register as an
         investment company under the Investment Company Act.

SECTION 12.2.     Meetings of the Holders; Action by Written Consent.

         (a)      Meetings of the Holders of any class of Securities may be
called at any time by the Regular Trustees (or as provided in the terms of the
Securities) to consider and act on any matter on which Holders of such class of
Securities are entitled to act under the terms of this Declaration, the terms of
the Securities or the rules of any stock exchange on which the Preferred
Securities are listed or admitted for trading. The Regular Trustees shall call a
meeting of the Holders of such class if directed to do so by the Holders of at
least 10% in liquidation amount of such class of Securities. Such direction
shall be given by delivering to the Regular Trustees one or more notices in a
writing stating that the signing Holders of Securities wish to call a meeting
and indicating the general or specific purpose for which the meeting is to be
called. Any Holders of Securities calling a meeting shall specify in writing the
Security Certificates held by the Holders of Securities exercising the right to
call a meeting and only those Securities specified shall be counted for purposes
of determining whether the required percentage set forth in the second sentence
of this paragraph has been met.

                                       47
<PAGE>

         (b)      Except to the extent otherwise provided in the terms of the
Securities, the following provisions shall apply to meetings of Holders of
Securities:

                  (i)      notice of any such meeting shall be given to each
         Trustee and all the Holders of Securities having a right to vote
         thereat at least seven days and not more than 60 days before the date
         of such meeting. Whenever a vote, consent or approval of the Holders of
         Securities is permitted or required under this Declaration or the rules
         of any stock exchange on which the Preferred Securities are listed or
         admitted for trading, such vote, consent or approval may be given at a
         meeting of the Holders of Securities. Any action that may be taken at a
         meeting of the Holders of Securities may be taken without a meeting if
         a consent in writing setting forth the action so taken is signed by the
         Holders of Securities owning not less than the minimum amount of
         Securities in liquidation amount that would be necessary to authorize
         or take such action at a meeting at which all Holders of Securities
         having a right to vote thereon were present and voting. Prompt notice
         of the taking of action without a meeting shall be given to the Holders
         of Securities entitled to vote who have not consented in writing. The
         Regular Trustees may specify that any written ballot submitted to the
         Security Holder for the purpose of taking any action without a meeting
         shall be returned to the Trust within the time specified by the Regular
         Trustees;

                  (ii)     each Holder of a Security may authorize any Person to
         act for it by proxy on all matters in which a Holder of Securities is
         entitled to participate, including waiving notice of any meeting, or
         voting or participating at a meeting. No proxy shall be valid after the
         expiration of 11 months from the date thereof unless otherwise provided
         in the proxy. Every proxy shall be revocable at the pleasure of the
         Holder of Securities executing it. Except as otherwise provided herein,
         all matters relating to the giving, voting or validity of proxies shall
         be governed by the General Corporation Law of the State of Delaware
         relating to proxies, and judicial interpretations thereunder, as if the
         Trust were a Delaware corporation and the Holders of the Securities
         were stockholders of a Delaware corporation;

                  (iii)    each meeting of the Holders of the Securities shall
         be conducted by the Regular Trustees or by such other Person that the
         Regular Trustees may designate; and

                  (iv)     unless the Business Trust Act, this Declaration, the
         terms of the Securities, the Trust Indenture Act or the listing rules
         of any stock exchange on which the Preferred Securities are then listed
         or trading, otherwise provides, the Regular Trustees, in their sole
         discretion, shall establish all other provisions relating to meetings
         of Holders of Securities, including notice of the time, place or
         purpose of any meeting at which any matter is to be voted on by any
         Holders of Securities, waiver of any such notice, action by consent
         without a meeting, the establishment of a record date, quorum
         requirements, voting in person or by proxy or any other matter with
         respect to the exercise of any such right to vote.

                                       48
<PAGE>

                                  ARTICLE XIII

                        REPRESENTATIONS AND WARRANTIES OF
                   INSTITUTIONAL TRUSTEE AND DELAWARE TRUSTEE

SECTION 13.1.     Representations and Warranties of the Institutional Trustee.

         The Trustee that acts as initial Institutional Trustee represents and
warrants to the Trust and to the Sponsor at the date of this Declaration, and
each Successor Institutional Trustee represents and warrants to the Trust and
the Sponsor at the time of the Successor Institutional Trustee's acceptance of
its appointment as Institutional Trustee that:

         (a)      the Institutional Trustee is a national banking association
with trust powers and authority under the laws of the United States to execute
and deliver, and to carry out and perform its obligations under the terms of,
this Declaration;

         (b)      the execution, delivery and performance by the Institutional
Trustee of this Declaration has been duly authorized by all necessary corporate
action on the part of the Institutional Trustee. This Declaration has been duly
executed and delivered by the Institutional Trustee, and it constitutes a legal,
valid and binding obligation of the Institutional Trustee, enforceable against
it in accordance with its terms, subject to applicable bankruptcy,
reorganization, moratorium, insolvency, and other similar laws affecting
creditors' rights generally and to general principles of equity and the
discretion of the court (regardless of whether the enforcement of such remedies
is considered in a proceeding in equity or at law);

         (c)      the execution, delivery and performance of this Declaration by
the Institutional Trustee does not conflict with or constitute a breach of the
charter or bylaws of the Institutional Trustee;

         (d)      no consent, approval or authorization of, or registration with
or notice to, any state or federal banking authority is required for the
execution, delivery or performance by the Institutional Trustee, of this
Declaration; and

         (e)      it satisfies the qualifications set forth in Section 5.3.

SECTION 13.2.     Representations and Warranties of the Delaware Trustee.

         The Trustee that acts as initial Delaware Trustee represents and
warrants to the Trust and to the Sponsor at the date of this Declaration, and
each Successor Delaware Trustee represents and warrants to the Trust and the
Sponsor at the time of the Successor Delaware Trustee's acceptance of its
appointment as Delaware Trustee that:

         (a)      the Delaware Trustee is duly organized, validly existing and
in good standing under the laws of the State of Delaware, with corporate power
and authority to execute and deliver, and to carry out and perform its
obligations under the terms of, this Declaration;

                                       49
<PAGE>

         (b)      the Delaware Trustee has authorized the performance of its
obligations under the Certificate of Trust and this Declaration. This
Declaration under Delaware law constitutes a legal, valid and binding obligation
of the Delaware Trustee, enforceable against it in accordance with its terms,
subject to applicable bankruptcy, reorganization, moratorium, insolvency, and
other similar laws affecting creditors' rights generally and to general
principles of equity and the discretion of the court (regardless of whether the
enforcement of such remedies is considered in a proceeding in equity or at law);

         (c)      no consent, approval or authorization of, or registration with
or notice to, any Delaware banking authority is required for the execution,
delivery or performance by the Delaware Trustee, of this Declaration;

         (d)      the Delaware Trustee is a natural person who is a resident of
the State of Delaware or, if not a natural person, an entity which has its
principal place of business in the State of Delaware; and

         (e)      it satisfies the qualifications set forth in Section 5.2.

                                  ARTICLE XIV

                                  MISCELLANEOUS

SECTION 14.1.     Notices.

         All notices provided for in this Declaration shall be in writing, duly
signed by the party giving such notice, and shall be delivered, faxed or mailed
by first class mail, as follows:

         (a)      if given to the Trust, in care of the Regular Trustees at the
Trust's mailing address set forth below (or such other address as the Trust may
give notice of to the Holders of the Securities and the Institutional Trustee):

                  SunTrust Capital ___
                  c/o SunTrust Banks, Inc.
                  303 Peachtree Street, N.E.
                  Atlanta, Georgia  30308-3201
                  Attention: Treasurer
                  Fax:  (404) 724-3749

                                       50
<PAGE>

         (b)      if given to the Delaware Trustee, at the mailing address set
forth below (or such other address as the Delaware Trustee may give notice of to
the Holders of the Securities):

                  Bank One Delaware, Inc.
                  3 Christina Center
                  201 N. Walnut Street
                  Wilmington, DE  19801
                  Attention:  Legal Department/First USA
                  Fax:  (312) 732-5144

         (c)      if given to the Institutional Trustee, at the Institutional
Trustee's mailing address set forth below (or such other address as the
Institutional Trustee may give notice of to the Holders of the Securities):

                  Bank One, N.A.
                  153 West 51st Street
                  New York, NY 10019
                  Attention:  Corporate Trust Administration
                  Fax:  (212) 373-1383

         (d)      if given to the Holder of the Common Securities, at the
mailing address of the Sponsor set forth below (or such other address as the
Holder of the Common Securities may give notice to the Trust):

                  SunTrust Banks, Inc.
                  303 Peachtree Street, N.E.
                  Atlanta, Georgia  30308-3201
                  Attention:  Treasurer
                  Fax:  (404) 724-3749

         (e)      if given to any other Holder, at the address set forth on the
books and records of the Trust.

         A copy of any notice to the Institutional Trustee or the Delaware
Trustee shall also be sent to the Trust. All such notices shall be deemed to
have been given when received in person, faxed with receipt confirmed, or mailed
by first class mail, postage prepaid except that if a notice or other document
is refused delivery or cannot be delivered because of a changed address of which
no notice was given, such notice or other document shall be deemed to have been
delivered on the date of such refusal or inability to deliver.

SECTION 14.2.     Governing Law.

         This Declaration and the rights of the parties hereunder shall be
governed by and interpreted in accordance with the laws of the State of Delaware
and all rights and remedies shall be governed by such laws without regard to
principles of conflict of laws.

                                       51
<PAGE>

SECTION 14.3.     Intention of the Parties.

         It is the intention of the parties hereto that the Trust be classified
for United States Federal income tax purposes as a grantor trust and not as an
association taxable as a corporation or partnership. The provisions of this
Declaration shall be interpreted to further this intention of the parties.

SECTION 14.4.     Headings.

         Headings contained in this Declaration are inserted for convenience of
reference only and do not affect the interpretation of this Declaration or any
provision hereof.

SECTION 14.5.     Successors and Assigns.

         Whenever in this Declaration any of the parties hereto is named or
referred to, the successors and assigns of such party shall be deemed to be
included, and all covenants and agreements in this Declaration by the Sponsor
and the Trustees shall bind and inure to the benefit of their respective
successors and assigns, whether or not so expressed.

SECTION 14.6.     Partial Enforceability.

         If any provision of this Declaration, or the application of such
provision to any Person or circumstance, shall be held invalid, the remainder of
this Declaration, or the application of such provision to persons or
circumstances other than those to which it is held invalid, shall not be
affected thereby.

SECTION 14.7.     Counterparts.

         This Declaration may contain more than one counterpart of the signature
page and this Declaration may be executed by the affixing of the signature of
each of the Trustees to one of such counterpart signature pages. All of such
counterpart signature pages shall be read as though one, and they shall have the
same force and effect as though all of the signers had signed a single signature
page.

                                       52
<PAGE>

         IN WITNESS WHEREOF, the undersigned has caused these presents to be
executed as of the day and year first above written.

                                    -------------------------------------------
                                    Raymond D. Fortin, as Regular Trustee

                                    -------------------------------------------
                                    Mark Chancy, as Regular Trustee

                                    -------------------------------------------
                                    Kenneth R. Houghton, as Regular Trustee

                                    BANK ONE DELAWARE, INC.,
                                    as Delaware Trustee

                                    By:
                                       ----------------------------------------
                                         Name:
                                         Title:

                                    BANK ONE, N.A.,
                                    as Institutional Trustee

                                    By:
                                       ----------------------------------------
                                        Name:
                                        Title:

                                    SUNTRUST BANKS, INC.,
                                    as Sponsor

                                    By:
                                       ----------------------------------------

                                       53
<PAGE>

                                     ANNEX I

                                    TERMS OF
                         FIXED RATE PREFERRED SECURITIES
                          FIXED RATE COMMON SECURITIES

         Pursuant to Section 7.1 of the Amended and Restated Declaration of
Trust, dated as of _______________ (as amended from time to time, the
"Declaration"), the designation, rights, privileges, restrictions, preferences
and other terms and provisions of the Preferred Securities and the Common
Securities are set out below (each capitalized term used but not defined herein
has the meaning set forth in the Declaration or, if not defined in such
Declaration, as defined in the Prospectus referred to below):

         1.       Designation and Number.

         (a)      Preferred Securities. Preferred Securities of the Trust with
an aggregate liquidation amount with respect to the assets of the Trust of
_________________________________ ($_______________) and a liquidation amount
with respect to the assets of the Trust of $____ per preferred security, are
hereby designated for the purposes of identification only as "_______________"
(the "Preferred Securities"). The Preferred Security Certificates evidencing the
Preferred Securities shall be substantially in the form of Exhibit A-1 to the
Declaration, with such changes and additions thereto or deletions therefrom as
may be required by ordinary usage, custom or practice or to conform to the rules
of any stock exchange on which the Preferred Securities are listed.

         (b)      Common Securities. Common Securities of the Trust with an
aggregate liquidation amount with respect to the assets of the Trust of
_________________________________ ($________________) and a liquidation amount
with respect to the assets of the Trust of $___ per common security, are hereby
designated for the purposes of identification only as "_____________" (the
"Common Securities"). The Common Security Certificates evidencing the Common
Securities shall be substantially in the form of Exhibit A-2 to the Declaration,
with such changes and additions thereto or deletions therefrom as may be
required by ordinary usage, custom or practice.

         2.       Distributions.

         (a)      Each Security will be entitled to receive cumulative cash
distributions payable at the rate of ______% per annum applied to the stated
liquidation amount of $____ per Security. Distributions in arrears for more than
one quarterly period will bear interest thereon at the rate of ________% per
annum compounded quarterly (to the extent permitted by applicable law). The term
"Distributions" as used herein includes such cash distributions and any such
interest payable unless otherwise stated. A Distribution is payable only to the
extent that payments are made in respect of the Debentures held by the
Institutional Trustee and to the extent the Institutional Trustee has funds
available therefor.

         "Distribution Period" means each period beginning on, and including,
___________, and ending on, but excluding, the first Distribution Date (as
defined below), and each successive

<PAGE>

period beginning on, and including, a Distribution Date and ending on, but
excluding, the next succeeding Distribution Date.

         (b)      Unless otherwise provided by the Institutional Trustee, the
Paying Agent will calculate the amount of distributions payable in respect of
each Distribution Period (the "Distribution Amount"). The Distribution Amount
shall be calculated by (i) applying the distribution rate of _______% the
liquidation amount of each Security outstanding at the commencement of the
Distribution Period, and (ii) on the basis of a 360-day year consisting of
twelve 30-day months and rounding the resulting figure to the nearest cent (with
one-half cent or more being rounded upwards). The amount of distributions
payable for any partial Distribution Period will be computed on the basis of the
actual number of days elapsed during any such 30-day month. The determination of
the Distribution Amount by the Paying Agent will (in the absence of willful
default, bad faith or manifest error) be final, conclusive and binding on all
concerned.

         (c)      All certificates, communications, opinions, determinations,
calculations, quotations and decisions given, expressed, made or obtained for
the purposes of the provisions relating to the payment and calculation of
Distributions on the Securities, whether by the Institutional Trustee or Paying
Agent, will (in the absence of willful default, bad faith or manifest error) be
binding on the Trust, the Sponsor, the Trustees and all of the holders of the
Preferred Securities, and no liability will (in the absence of willful default,
bad faith or manifest error) attach to the Institutional Trustee or Paying Agent
in connection with the exercise or non-exercise by any of them of their powers,
duties and discretion.

         (d)      Distributions on the Securities will be cumulative, will
accrue from ________________, and will be payable quarterly in arrears, on the
_____ day of ____________, ____________, ____________ and ____________ of each
year, commencing on ____________, except as otherwise described below. The
Debenture Issuer has the right under the Indenture to defer payments of interest
by extending the interest payment period at any time and from time to time on
the Debentures for a period not exceeding 20 consecutive quarterly periods (each
an "Extension Period"), during which Extension Period no interest shall be due
and payable on the Debentures, provided that no Extension Period shall end on a
day other than an interest payment date for the Debentures or shall extend
beyond the date of maturity of the Debentures. As a consequence of any Extension
Period, Distributions will also be deferred. During any Extension Period,
quarterly Distributions will continue to accrue with interest thereon (to the
extent permitted by applicable law) at a rate of ______% per annum compounded
quarterly during any such Extension Period. At the end of the Extension Period,
all accrued and unpaid Distributions (but only to the extent payments are made
in respect of the Debentures held by the Institutional Trustee and to the extent
the Institutional Trustee has funds available therefor) will be payable to the
Holders of the Securities in whose names the Securities are registered in the
Security Register on the record date relating to the Distribution Date on which
the Extension Period ends. Prior to the termination of any such Extension
Period, the Debenture Issuer may further defer payments of interest by further
extending such Extension Period; provided that such Extension Period together
with all such previous and further extensions within such Extension Period may
not exceed 20 consecutive quarterly periods or extend beyond the maturity date
of the Debentures. Upon the termination of any Extension Period and the payment
of all amounts then due, the Debenture Issuer may commence a new Extension
Period, subject to the above requirements.

                                       A-2
<PAGE>

         (e)      Distributions on the Securities will be payable to the Holders
thereof as they appear on the books and records of the Trust on the relevant
record dates. While the Preferred Securities remain in book-entry only form, the
relevant record dates shall be the close of business on the Business Day next
preceding the relevant payment dates. Subject to any applicable laws and
regulations and the provisions of the Declaration, each such payment in respect
of the Preferred Securities will be made as described under the heading
"Description of the Preferred Securities -- Payment of Distributions" in the
Prospectus Supplement dated ________________ to the Prospectus dated
________________ (together, the "Prospectus"), of the Trust included in the
Registration Statement on Form S-3 of the Sponsor, the Trust and certain other
business trusts. The relevant record dates for the Common Securities shall be
the same record date as for the Preferred Securities when the Preferred
Securities are not in book-entry only form. If the Preferred Securities shall
not continue to remain in book-entry only form, the relevant record dates for
the Preferred Securities shall be the close of business on the _____________,
_____________, _____________ and _____________ immediately preceding the
relevant Distribution Date, whether or not a Business Day.

         (f)      Payments in respect of Preferred Securities held in
certificated form will be made by check mailed to the Holder entitled thereto.
Distributions payable on any Securities that are not punctually paid on any
Distribution payment date, as a result of the Debenture Issuer having failed to
make a payment under the Debentures, will cease to be payable to the Person in
whose name such Securities are registered on the relevant record date, and such
defaulted Distribution will instead be payable to the Person in whose name such
Securities are registered on the special record date or other specified date
determined in accordance with the Indenture. If any date on which Distributions
are payable on the Securities is not a Business Day, then payment of the
Distribution payable on such date will be made on the next succeeding day that
is a Business Day, except that, if such Business Day is in the next succeeding
calendar year, such payment shall be made on the immediately preceding Business
Day, in each case with the same force and effect as if made on such date (each
date on which Distributions are actually payable, a "Distribution Date").

         (g)      In the event that there is any money or other property held by
or for the Trust that is not accounted for hereunder, such property shall be
distributed Pro Rata (as defined herein) among the Holders of the Securities.

         3.       Liquidation Distribution Upon Dissolution.

         In the event of a Dissolution Event, the Holders of the Securities on
the date of such Dissolution Event will be entitled to receive out of the assets
of the Trust available for distribution to Holders of Securities, after
satisfaction of liabilities of creditors, an amount equal to the aggregate of
the stated liquidation amount of $_____ per Security plus accrued and unpaid
Distributions thereon to the date of payment (such amount being the "Liquidation
Distribution"), unless, in connection with such Dissolution Event, Debentures in
an aggregate stated principal amount equal to the aggregate stated liquidation
amount of such Securities and bearing accrued and unpaid interest in an amount
equal to the accrued and unpaid Distributions on such Securities shall be
distributed on a Pro Rata basis to the Holders of the Securities in exchange for
such Securities.

                                      A-3
<PAGE>

         If, upon any such Dissolution Event, the Liquidation Distribution can
be paid only in part because the Trust has insufficient assets available to pay
in full the aggregate Liquidation Distribution, then the amounts payable
directly by the Trust on the Securities shall be paid on a Pro Rata basis;
provided, however, that if at the time of such Dissolution Event an Event of
Default under the Declaration shall have occurred and be continuing, the rights
of Holders of Common Securities to payment in respect of the Liquidation
Distribution shall be subordinated to the rights to payment of the Holders of
the Preferred Securities.

         4.       Redemption and Distribution.

         (a)      Distribution of Securities. Subject to the prior approval of
the Federal Reserve Board if such approval is then required under applicable
law, rules, guidelines or policies of the Federal Reserve Board, the Regular
Trustees at any time shall have the right to dissolve the Trust and, after
satisfaction of the claims of creditors, cause the Debentures held by the
Institutional Trustee having an aggregate principal amount equal to the
aggregate stated liquidation amount of, with an interest rate identical to the
distribution rate of _____% per annum of, having accrued on unpaid interest
equal to accrued and unpaid Distributions on, and having the same record date
for payment as, the Securities to be distributed to the Holders of the
Securities in liquidation of such Holders' interests in the trust on a Pro Rata
basis.

         On and from the date fixed by the Regular Trustees for any distribution
of Debentures and dissolution of the Trust: (i) the Securities will no longer be
deemed to be outstanding, (ii) The Depository Trust Company (the "Depository")
or its nominee (or any successor Clearing Agency or its nominee), as the record
Holder of the Preferred Securities, will receive a registered global certificate
or certificates representing the Debentures to be delivered upon such
distribution and (iii) any certificates representing Securities, except for
certificates representing Preferred Securities held by the Depository or its
nominee (or any successor Clearing Agency or its nominee), will be deemed to
represent beneficial interests in the Debentures having an aggregate principal
amount equal to the aggregate stated liquidation amount of, with an interest
rate identical to the distribution rate of _____% per annum of, and accrued and
unpaid interest equal to accrued and unpaid Distributions on, such Securities
until such certificates are presented to the Debenture Issuer or its agent for
transfer or reissue.

         (b)      Redemption -- General. Upon the repayment of the Debentures in
whole or in part, whether at maturity or upon redemption, the proceeds from such
repayment or redemption shall simultaneously be applied to redeem a Like Amount
of Securities at a redemption price of $____ per Security, plus an amount equal
to accrued and unpaid Distributions thereon to the date of the redemption (the
"Redemption Price"). The Redemption Price shall be paid in cash. Holders will be
given not less than 30 nor more than 60 days notice of such redemption. If fewer
than all the outstanding Securities are to be so redeemed, the Common Securities
and the Preferred Securities will be redeemed Pro Rata and the Preferred
Securities to be redeemed will be as described in Section 4(g)(ii) below. The
Trust may not redeem fewer than all the outstanding Securities unless all
accrued and unpaid Distributions have been paid on all Securities for all
quarterly Distribution periods terminating on or before the date of redemption.

                                      A-4
<PAGE>

         (c)      Optional Redemption After . Subject to the prior approval of
the Federal Reserve Board, if such approval is then required under applicable
law, rules, guidelines or policies, the Debenture Issuer shall have the right to
redeem the Debentures, in whole or in part, from time to time, on or after
_________________ and, following any such redemption, a Like Amount of
Securities shall be redeemed by the Trust at the Redemption Price.

         (d)      Tax Event Redemption. Subject to the prior approval of the
Federal Reserve Board, if such approval is then required under applicable law,
rules, guidelines or policies, if at any time a Tax Event shall occur and be
continuing, the Debenture Issuer shall have the right to redeem the Debentures,
in whole, but not in part, for cash within 90 days following the occurrence of
such Tax Event (or, if the approval of the Federal Reserve Board is then
required for such redemption, on such later date as promptly practicable after
such approval is obtained) and, following such redemption, all of the Securities
shall be redeemed by the Trust at the Redemption Price.

         (e)      Capital Treatment Event Redemption. Subject to the prior
approval of the Federal Reserve Board, if such approval is then required under
applicable law, rules, guidelines or policies, if at any time a Capital
Treatment Event shall occur and be continuing, the Debenture Issuer shall have
the right to redeem the Debentures, in whole, but not in part, for cash within
90 days following the occurrence of such Capital Treatment Event (or, if the
approval of the Federal Reserve Board is then required for such redemption, on
such later date as promptly as practicable after such approval is obtained) and,
following such redemption, all of the Securities shall be redeemed by the Trust
at the Redemption Price.

         (f)      Investment Company Event Redemption. Subject to the prior
approval of the Federal Reserve Board, if such approval is then required under
applicable law, rules, guidelines or policies, if at any time a Investment
Company Event shall occur and be continuing, the Debenture Issuer shall have the
right to redeem the Debentures, in whole, but not in part, for cash within 90
days following the occurrence of such Investment Company Event (or, if the
approval of the Federal Reserve Board is then required for such redemption, on
such later date as promptly practicable after such approval is obtained) and,
following such redemption, all of the Securities shall be redeemed by the Trust
at the Redemption Price.

         (g)      Procedure. The procedure with respect to redemptions and
distributions of Debentures shall be as follows:

         (i)      Notice of any redemption of, or notice of distribution of
    Debentures in exchange for, the Securities (a "Redemption/Distribution
    Notice") will be given by the Trust by mail to each Holder of Securities to
    be redeemed or exchanged not fewer than 30 nor more than 60 days before the
    date fixed for redemption or exchange thereof which, in the case of a
    redemption, will be the date fixed for redemption of the Debentures. For
    purposes of the calculation of the date of redemption or exchange and the
    dates on which notices are given pursuant to this Section 4(g)(i), a
    Redemption/Distribution Notice shall be deemed to be given on the day such
    notice is first mailed by first-class mail, postage prepaid, to Holders of
    Securities. Each Redemption/Distribution Notice shall be addressed to the
    Holders of Securities at the address of each such Holder appearing in the
    books and records of the Trust. No defect in the Redemption/Distribution
    Notice or in the mailing of either thereof with

                                      A-5
<PAGE>

    respect to any Holder shall affect the validity of the redemption or
    exchange proceedings with respect to any other Holder.

         (ii)     All notices of redemption shall state:

                  (a) the redemption date;

                  (b) the Redemption Price;

                  (c) the CUSIP number;

                  (d) if fewer than all the outstanding Securities are to be
         redeemed, the identification and the total liquidation amount of the
         particular Securities to be redeemed; and

                  (e) that on the redemption date the Redemption Price will
         become due and payable upon each such Security to be redeemed and that
         Distributions thereon will cease to accrue on and after said date.

         (iii)    In the event that fewer than all the outstanding Securities
    are to be redeemed, the Securities to be redeemed shall be redeemed Pro Rata
    from each Holder of Preferred Securities, it being understood that, in
    respect of Preferred Securities registered in the name of and held of record
    by the Depository or its nominee (or any successor Clearing Agency or its
    nominee) or any nominee, the distribution of the proceeds of such redemption
    will be made to each Clearing Agency Participant (or Person on whose behalf
    such nominee holds such securities) in accordance with the procedures
    applied by such agency or nominee.

         (iv)     If Securities are to be redeemed and the Trust gives a
    Redemption/Distribution Notice, which notice may only be issued if the
    Debentures are to be redeemed as set out in this Section 4 (which notice
    will be irrevocable), then (A) while the Preferred Securities are in
    book-entry only form, with respect to the Preferred Securities, by 12:00
    noon, New York, New York time, on the redemption date, provided that by 10
    a.m. New York, New York time, on that date the Debenture Issuer has paid the
    Institutional Trustee or other holder of the Property Account a sufficient
    amount of cash in connection with the related redemption or maturity of the
    Debentures, the Institutional Trustee or the Paying Agent will deposit
    irrevocably with the Depository or its nominee (or successor Clearing Agency
    or its nominee) funds sufficient to pay the applicable Redemption Price with
    respect to the Preferred Securities and will give the Depository irrevocable
    instructions and authority to pay the Redemption Price to the Holders of the
    Preferred Securities, and (B) with respect to Preferred Securities issued in
    definitive form and Common Securities, provided that the Debenture Issuer
    has paid the Institutional Trustee or the holder of the Property Account a
    sufficient amount of cash in connection with the related redemption or
    maturity of the Debentures, the Institutional Trustee or the Paying Agent
    will pay the relevant Redemption Price to the Holders of such Securities by
    check mailed to the address of the relevant Holder appearing on the books
    and records of the Trust on the redemption date. If a
    Redemption/Distribution Notice shall have been given and funds deposited as
    required, if applicable, then prior to the

                                      A-6
<PAGE>

    close of business on the redemption date, Distributions will cease to accrue
    on the Securities so called for redemption and all rights of Holders of such
    Securities so called for redemption will cease, except the right of the
    Holders of such Securities to receive the Redemption Price, but without
    interest on such Redemption Price. Neither the Regular Trustees nor the
    Trust shall be required to register or cause to be registered the transfer
    of (i) any Securities beginning on the opening of business 15 days before
    the day of mailing of a notice of redemption and ending at the close of
    business on the day of such mailing or (ii) any Securities selected for
    redemption except the unredeemed portion of any Security being redeemed in
    part. If any date fixed for redemption of Securities is not a Business Day,
    then payment of the Redemption Price payable on such date will be made on
    the next succeeding day that is a Business Day (and without any interest or
    other payment in respect of any such delay) except that, if such Business
    Day falls in the next calendar year, such payment will be made on the
    immediately preceding Business Day, in each case with the same force and
    effect as if made on such date fixed for redemption. If payment of the
    Redemption Price in respect of any Securities is improperly withheld or
    refused and not paid either by the Institutional Trustee or by the Sponsor
    as guarantor pursuant to the relevant Securities Guarantee, Distributions on
    such Securities will continue to accrue from the original redemption date to
    the actual date of payment, in which case the actual payment date will be
    considered the date fixed for redemption for purposes of calculating the
    Redemption Price.

         (v)      Redemption/Distribution Notices shall be sent by the Regular
    Trustees on behalf of the Trust (A) in respect of the Preferred Securities,
    to the Depository or its nominee (or any successor Clearing Agency or its
    nominee) if the Global Certificates have been issued or, if Definitive
    Preferred Security Certificates have been issued, to the Holder thereof, and
    (B) in respect of the Common Securities, to the Holder thereof.

         (vi)     Subject to the foregoing and applicable law (including,
    without limitation, United States federal securities laws and banking laws),
    provided the acquiror is not the Holder of the Common Securities or the
    obligor under the Indenture, the Sponsor or any of its subsidiaries may at
    any time and from time to time purchase outstanding Preferred Securities by
    tender, in the open market, by private agreement or otherwise.

         (vii)    Upon presentation of any Security redeemed in part only, the
    Regular Trustee on behalf of the Trust shall execute and the Institutional
    Trustee shall authenticate and deliver to the Holder thereof a new Security
    in aggregate liquidation amount equal to the unredeemed portion of the
    Security so presented and having the same original issue date, stated
    maturity and terms.

         5.       Voting Rights - Preferred Securities.

         (a)      Except as provided under Sections 5(b) and 7 and as otherwise
required by law and the Declaration, the Holders of the Preferred Securities
will have no voting rights.

         (b)      Subject to the requirements set forth in this paragraph and
Section 2.6(a) of the Declaration, the Holders of a majority in aggregate
liquidation amount of the Preferred Securities, voting separately as a class may
direct the time, method, and place of conducting any proceeding for

                                      A-7
<PAGE>

any remedy available to the Institutional Trustee, or direct the exercising of
any trust or power conferred upon the Institutional Trustee under the
Declaration, including the right to direct the Institutional Trustee, as holder
of the Debentures, to (i) exercise the remedies available under the Indenture to
holders of the Debentures, including the right to direct the time method and
place of conducting any proceeding for any remedy available to the Debt Trustee,
or direct the exercising of any trust or power conferred on the Debt Trustee
with respect to the Debentures, (ii) waive any past default and its consequences
that is waivable under Section 5.08 of the Base Indenture, (iii) exercise any
right to rescind or annul a declaration that the principal of all the Debentures
shall be due and payable, or (iv) consent to any amendment, modification or
termination of the Indenture or the Debentures where such consent of the holders
of the Debentures would be required, provided, however, that, where a consent
under the Indenture would require the consent or act of the Holders of greater
than a majority of the Holders in principal amount of Debentures affected
thereby (a "Super Majority"), the Institutional Trustee may give such consent or
take such action only at the written direction of the Holders of at least the
proportion in aggregate liquidation amount of the Preferred Securities which the
relevant Super Majority represents of the aggregate principal amount of the
Debentures outstanding. The Institutional Trustee shall not revoke any action
previously authorized or approved by a vote of the Holders of the Preferred
Securities. Other than with respect to directing the time, method and place of
conducting any remedy available to the Institutional Trustee or the Debt Trustee
as set forth above, the Institutional Trustee shall not take any action in
accordance with the directions of the Holders of the Preferred Securities under
this paragraph unless the Institutional Trustee has obtained an opinion of
nationally recognized independent tax counsel experienced in such matters to the
effect that for the purposes of United States federal income tax the Trust will
not be classified as other than a grantor trust on account of such action. If a
Declaration Event of Default has occurred and is continuing and such event is
attributable to the failure of the Debenture Issuer to pay interest or principal
on the Debentures on the date such interest or principal is otherwise payable
(or in the case of redemption, on the redemption date), then a holder of
Preferred Securities may directly institute a proceeding for enforcement of
payment to such Holder of the principal of or interest on the Debentures having
a principal amount equal to the aggregate liquidation amount of the Preferred
Securities of such Holder (a "Direct Action") on or after the respective due
date specified in the Debentures. In connection with such Direct Action, the
rights of the holders of the Common Securities Holder will be subrogated to the
rights of such Holder of Preferred Securities to the extent of any payment made
by the Debenture Issuer to such Holder of Preferred Securities in such Direct
Action. Except as provided in the preceding sentences, the Holders of Preferred
Securities will not be able to exercise directly any other remedy available to
the holders of the Debentures. Any amount payable pursuant to the Declaration to
any Holder of a Preferred Security shall be reduced by the amount of any
corresponding payment such Holder has directly received pursuant to such Direct
Action.

         Any approval or direction of Holders of Preferred Securities may be
given at a separate meeting of Holders of Preferred Securities convened for such
purpose, at a meeting of all of the Holders of Securities in the Trust or
pursuant to written consent. The Regular Trustees will cause a notice of any
meeting at which Holders of Preferred Securities are entitled to vote, or of any
matter upon which action by written consent of such Holders is to be taken, to
be mailed to each Holder of record of Preferred Securities. Each such notice
will include a statement setting forth (i) the date of such meeting or the date
by which such action is to be taken, (ii) a description of any resolution

                                      A-8
<PAGE>

proposed for adoption at such meeting on which such Holders are entitled to vote
or of such matter upon which written consent is sought and (iii) instructions
for the delivery of proxies or consents.

         No vote or consent of the Holders of the Preferred Securities will be
required for the Trust to redeem and cancel Preferred Securities or to
distribute the Debentures in accordance with the Declaration and the terms of
the Securities.

         Notwithstanding that Holders of Preferred Securities are entitled to
give, make or take requests, demands, authorizations, directions, notices,
consents, waivers or other actions under any of the circumstances described in
the Declaration, any of the Preferred Securities that are owned by the Sponsor
or any Affiliate of the Sponsor shall not be entitled to give, make or take any
such action and shall, for purposes of such action, be treated as if they were
not outstanding, except that (a) in determining whether any Trustee shall be
protected in relying on any such request, demand, authorization, direction,
notice, consent or waiver, only Securities that a Responsible Officer of such
Trustee actually knows to be so owned shall be so disregarded and (b) the
foregoing shall not apply at any time when all of the outstanding Securities are
owned by the Sponsor or any Affiliate.

         Any request, demand, authorization, direction, notice, consent, waiver
or other action provided or permitted by the Declaration to be given, made or
taken by Holders of Preferred Securities may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in
person or by an agent duly appointed in writing; and, except as otherwise
expressly provided herein, such action shall become effective when such
instrument or instruments are delivered to the Institutional Trustee. Such
instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the "Act" of the Holders signing
such instrument or instruments. Proof of execution of any such instrument or of
a writing appointing any such agent shall be sufficient for any purpose of the
Declaration and (subject to Section 3.10 of the Declaration) conclusive in favor
of the Trustees, if made in the manner provided herein.

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

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

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

                                      A-9
<PAGE>

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

         If any dispute shall arise between the Holders of Preferred Securities
and Trustees or among such Holders or Trustees with respect to the authenticity,
validity or binding nature of any request, demand, authorization, direction,
consent, waiver or other Act of such Holder or Trustee hereunder, then the
determination of such matter by the Institutional Trustee shall be conclusive
with respect to such matter.

         6.       Voting Rights - Common Securities.

         (a)      Except as provided under Sections 6(b) and (c) and 7(a) and
(b), or as otherwise required by law and the Declaration, the Holders of the
Common Securities will have no voting rights.

         (b)      The Holders of the Common Securities are entitled, in
accordance with Article V of the Declaration, to vote to appoint, remove or
replace any Trustee or to increase or decrease the number of Trustees.

         (c)      Subject to Section 2.6 of the Declaration and only after the
Event of Default with respect to the Preferred Securities has been cured,
waived, or otherwise eliminated and subject to the requirements of the second to
last sentence of this paragraph, the Holders of a Majority in liquidation amount
of the Common Securities, voting separately as a class, may direct the time,
method and place of conducting any proceeding for any remedy available to the
Institutional Trustee, or exercising any trust or power conferred upon the
Institutional Trustee under the Declaration, including (i) directing the time,
method and place of conducting any proceeding for any remedy available to the
Debt Trustee, or exercising any trust or power conferred on the Debt Trustee
with respect to the Debentures, (ii) waive any past default and its consequences
that is waivable under Section 5.08 of the Base Indenture, (iii) exercise any
right to rescind or annul a declaration that the principal of all the Debentures
shall be due and payable, or (iv) consent to any amendment, modification or
termination of the Indenture or the Debentures where such consent of the holders
of the Debentures would be required, provided that, where a consent or action
under the Indenture would require the consent or act of the Holders of a Super
Majority, the Institutional Trustee may give such consent or take such action
only at the written direction of the Holders of at least the proportion in
aggregate liquidation amount of the Common Securities which the relevant Super
Majority represents of the aggregate principal amount of the Debentures
outstanding. Pursuant to this Section 6(c), the Institutional Trustee shall not
revoke any action previously authorized or approved by a vote of the Holders of
the Preferred Securities. Other than with respect to directing the time, method
and place of conducting any remedy available to the Institutional Trustee or the
Debt Trustee as set forth above, the Institutional Trustee shall not take any
action in accordance with the directions of the Holders of the Common Securities
under this paragraph unless the Institutional Trustee has obtained an opinion of
nationally recognized independent tax counsel experienced in such matters to the
effect that for the purposes of United States Federal income tax the Trust will
not be

                                      A-10
<PAGE>

classified as other than a grantor trust on account of such action. If the
Institutional Trustee fails to enforce its rights under the Declaration, any
Holder of Common Securities may institute a legal proceeding directly against
any Person to enforce the Institutional Trustee's rights under the Declaration,
without first instituting a legal proceeding against the Institutional Trustee
or any other Person.

         Any approval or direction of Holders of Common Securities may be given
at a separate meeting of Holders of Common Securities convened for such purpose,
at a meeting of all of the Holders of Securities in the Trust or pursuant to
written consent. The Regular Trustees will cause a notice of any meeting at
which Holders of Common Securities are entitled to vote, or of any matter upon
which action by written consent of such Holders is to be taken, to be mailed to
each Holder of record of Common Securities. Each such notice will include a
statement setting forth (i) the date of such meeting or the date by which such
action is to be taken, (ii) a description of any resolution proposed for
adoption at such meeting on which such Holders are entitled to vote or of such
matter upon which written consent is sought and (iii) instructions for the
delivery of proxies or consents.

         No vote or consent of the Holders of the Common Securities will be
required for the Trust to redeem and cancel Common Securities or to distribute
the Debentures in accordance with the Declaration and the terms of the
Securities.

         Any request, demand, authorization, direction, notice, consent, waiver
or other action provided or permitted by the Declaration to be given, made or
taken by Holders of Common Securities may be embodied in and evidenced by one or
more instruments of substantially similar tenor signed by such Holders or in
person or by an agent duly appointed in writing, and except as otherwise
expressly provided herein, such action shall become effective when such
instrument or instruments are delivered to the Institutional Trustee. Such
instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the "Act" of the Holders signing
such instrument or instruments. Proof of execution of any such instrument or of
a writing appointing any such agent shall be sufficient for any purpose of the
Declaration and (subject to Section 3.10 of the Declaration) conclusive in favor
of the Trustees, if made in the manner provided herein.

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

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

         Any request, demand, authorization, direction, notice, consent, waiver
or other Act of the Holder of any Common Security shall bind every future Holder
of the same Common Security and the Holder of every Common Security issued upon
the registration of transfer thereof or in exchange

                                      A-11
<PAGE>

therefor or in lieu thereof in respect of anything done, omitted or suffered to
be done by the Trustees or the Trust in reliance thereon, whether or not
notation of such action is made upon Common Security.

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

         If any dispute shall arise between the Holders of Common Securities and
the Trustees or among such Holders or Trustees with respect to the authenticity,
validity or binding nature of any request, demand, authorization, direction,
consent, waiver or other Act of such Holder or Trustee hereunder, then the
determination of such matter by the Institutional Trustee shall be conclusive
with respect to such matter.

         7.       Amendments to Declaration and Indenture.

         (a)      In addition to any requirements under Section 12.1 of the
Declaration, if any proposed amendment to the Declaration provides for, or the
Regular Trustees otherwise propose to effect, (i) any amendment that would
adversely affect the rights, privileges or preferences of any Holder of the
Securities, whether by way of amendment to the Declaration or otherwise, or (ii)
the dissolution, winding-up or termination of the Trust, other than as described
in Section 8.1 of the Declaration, then the Holders of Securities, voting
together as a single class, will be entitled to vote on such amendment or
proposal (but not on any other amendment or proposal) and such amendment or
proposal shall not be effective except with the approval of the Holders of at
least a Majority in liquidation amount of the Securities, affected thereby;
provided, however, that if any amendment or proposal referred to in clause (i)
above would adversely affect only the Preferred Securities or only the Common
Securities, then only the affected class will be entitled to vote on such
amendment or proposal and such amendment or proposal shall not be effective
except with the approval of a Majority in liquidation amount of such class of
Securities.

         (b)      In the event the consent of the Institutional Trustee as the
holder of the Debentures is required under the Indenture with respect to any
amendment, modification or termination of the Indenture or the Debentures, the
Institutional Trustee shall request the written direction of the Holders of the
Securities with respect to such amendment, modification or termination and shall
vote with respect to such amendment, modification or termination as directed by
a Majority in liquidation amount of the Securities voting together as a single
class; provided, however, that where a consent under the Indenture would require
the consent of the holders of a Super Majority, the Institutional Trustee may
give such consent only at the direction of the Holders of at least the
proportion in aggregate liquidation amount of the Securities which the relevant
Super Majority represents of the aggregate principal amount of the Debentures
outstanding; provided, further, that the Institutional Trustee shall not take
any action in accordance with the directions of the Holders of the Securities
under this Section 7(b) unless the Institutional Trustee has obtained an opinion
of nationally recognized independent tax counsel experienced in such matters to
the effect

                                      A-12
<PAGE>

that for the purposes of United States federal income tax the Trust will not be
classified as other than a grantor trust on account of such action.

         8.       Pro Rata.

         A reference in these terms of the Securities to any payment,
distribution or treatment as being "Pro Rata" shall mean pro rata to each Holder
of Securities according to the aggregate liquidation amount of the Securities
held by the relevant Holder in relation to the aggregate liquidation amount of
all Securities outstanding unless, in relation to a payment, an Event of Default
under the Declaration has occurred and is continuing, in which case any funds
available to make such payment shall be paid first to each Holder of the
Preferred Securities pro rata according to the aggregate liquidation amount of
Preferred Securities held by the relevant Holder relative to the aggregate
liquidation amount of all Preferred Securities outstanding, and only after
satisfaction of all amounts owed to the Holders of the Preferred Securities, to
each Holder of Common Securities pro rata according to the aggregate liquidation
amount of Common Securities held by the relevant Holder relative to the
aggregate liquidation amount of all Common Securities outstanding. In any such
proration the Trust may make such adjustments as may be appropriate in order
that only Securities in authorized denominations shall be redeemed.

         9.       Ranking.

         The Preferred Securities rank pari passu with the Common Securities and
payment thereon shall be made Pro Rata with the Common Securities except that,
if an Event of Default under the Declaration occurs and is continuing the rights
of Holders of the Common Securities to payment in respect of Distributions and
payments upon liquidation, redemption and otherwise are subordinated to the
rights to payment of the Holders of the Preferred Securities.

         10.      Acceptance of Securities Guarantee and Indenture.

         Each Holder of Preferred Securities and Common Securities, by the
acceptance thereof, agrees to the provisions of the Preferred Securities
Guarantee and the Common Securities Guarantee, respectively, including the
subordination provisions therein and to the provisions of the Indenture.

         11.      No Preemptive Rights.

         The Holders of the Securities shall have no preemptive rights to
subscribe for any additional securities.

         12.      Miscellaneous.

         These terms constitute a part of the Declaration.

         The Sponsor will provide a copy of the Declaration, the Preferred
Securities Guarantee or the Common Securities Guarantee (as may be appropriate),
and the Indenture to a Holder without charge on written request to the Sponsor
at its principal place of business.

                                      A-13
<PAGE>

                                   EXHIBIT A-1

                     FORM OF PREFERRED SECURITY CERTIFICATE

         [This Preferred Security is a Book-Entry Security within the meaning of
the Declaration hereinafter referred to and is registered in the name of The
Depository Trust Company (the "Depositary") or a nominee of the Depositary. This
Preferred Security is exchangeable for Preferred Securities registered in the
name of a person other than the Depositary or its nominee only in the limited
circumstances described in the Declaration and no transfer of this Preferred
Security (other than a transfer of this Preferred Security as a whole by the
Depositary to a nominee of the Depositary or by a nominee of the Depositary to
the Depositary or another nominee of the Depositary) may be registered except in
limited circumstances.

         Unless this Preferred Security is presented by an authorized
representative of The Depository Trust Company (55 Water Street, New York, New
York) to the Trust or its agent for registration of transfer, exchange or
payment, and any Preferred Security issued is registered in the name of Cede &
Co. or such other name as requested by an authorized representative of The
Depository Trust Company and any payment hereon is made to Cede & Co., ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY A PERSON IS
WRONGFUL since the registered owner hereof, Cede & Co., has an interest
herein.](1)

         THIS SECURITY IS NOT A SAVINGS ACCOUNT, DEPOSIT ACCOUNT OR OTHER
OBLIGATION OF ANY BANK OR A NONBANK SUBSIDIARY THEREOF, AND IS NOT INSURED BY
THE FEDERAL DEPOSIT INSURANCE CORPORATION, THE BANK INSURANCE FUND OR ANY OTHER
GOVERNMENTAL AGENCY.

-------------------
   (1)        Insert in Global Certificates only.

<PAGE>

Certificate Number                                Number of Preferred Securities

                                                         CUSIP NO.  ___________

                   Certificate Evidencing Preferred Securities

                                       of

                              SUNTRUST CAPITAL ___

                                 "------------"
                     (liquidation amount $____ per Security)

         SUNTRUST CAPITAL ___, a statutory business trust formed under the laws
of the State of Delaware (the "Trust"), hereby certifies that Cede & Co. (the
"Holder") is the registered owner of ______________ (____________) preferred
securities of the Trust representing beneficial ownership interests in the
assets of the Trust designated the "______________________" (liquidation amount
$_____ per Security) (the "Preferred Securities"). The Preferred Securities are
transferable on the books and records of the Trust, in person or by a duly
authorized attorney, upon surrender of this certificate duly endorsed and in
proper form for transfer. The designation, rights, privileges, restrictions,
preferences and other terms and provisions of the Preferred Securities
represented hereby are issued and shall in all respects be subject to the
provisions of the Amended and Restated Declaration of Trust of the Trust dated
as of _________________, as the same may be amended from time to time (the
"Declaration"), including the designation of the terms of the Preferred
Securities as set forth in Annex I to the Declaration. Capitalized terms used
herein but not defined shall have the meaning given them in the Declaration. The
Holder is entitled to the benefits of the Preferred Securities Guarantee to the
extent provided therein. The Sponsor will provide a copy of the Declaration, the
Preferred Securities Guarantee and the Indenture to a Holder without charge upon
written request to the Trust at its principal place of business.

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

                                     A-1-2

<PAGE>

         By acceptance, the Holder agrees to treat, for United States federal
income tax purposes, the Debentures as indebtedness and the Preferred Securities
as evidence of indirect beneficial ownership in the Debentures.

         IN WITNESS WHEREOF, the Trust has executed this certificate this ____
day of _________________.

                                           SUNTRUST CAPITAL ____

                                           By:
                                              ------------------------------
                                              Name:
                                              Regular Trustee

                          CERTIFICATE OF AUTHENTICATION

         This certificate represents the Preferred Securities referred to in the
within-mentioned Declaration.

Dated:

BANK ONE, N.A.,
  as Institutional Trustee

By:
   ------------------------
   Authorized Officer

                                     A-1-3

<PAGE>

                          [FORM OF REVERSE OF SECURITY]

         Each Preferred Security will be entitled to receive cumulative
Distributions at a rate of ______% per annum applied to the stated liquidation
amount of $_____ per Preferred Security. Distributions in arrears for more than
one quarter will bear interest thereon compounded quarterly at a rate of _____%
per annum (to the extent permitted by applicable law). The term "Distributions"
as used herein includes such cash distributions and any such interest payable
unless otherwise stated. A Distribution is payable only to the extent that
payments are made in respect of the Debentures held by the Institutional Trustee
and to the extent the Institutional Trustee has funds available therefor. The
Distribution Amount payable for each Distribution Period will be calculated as
provided in the Declaration.

         Except as otherwise described below, distributions on the Preferred
Securities will be cumulative, will accrue from _______________ and will be
payable quarterly in arrears on the _____ day of _______________,
_______________, _______________ and _______________ of each year, commencing on
__________________ to the Holders thereof as they appear on the books and
records of the Trust on the relevant record dates. While the Preferred
Securities remain in book-entry only form, the relevant record dates shall be
the close of business on the Business Day next preceding the relevant payment
dates. If the Preferred Securities shall not continue to remain in book-entry
only form, the relevant record dates for the Preferred Securities shall be the
close of business on the _______________, _______________, _______________ or
_______________ immediately preceding the relevant Distribution Date, whether or
not a Business Day. The Debenture Issuer has the right under the Indenture to
defer payments of interest on the Debentures by extending the interest payment
period at any time and from time to time for a period not exceeding 20
consecutive quarterly periods (each an "Extension Period"), provided that no
Extension Period shall end on a day other than an interest payment date for the
Debentures or shall extend beyond the date of the maturity of the Debentures. As
a consequence of any Extension Period, Distributions will also be deferred.
During any Extension Period, quarterly Distributions will continue to accrue
with interest thereon (to the extent permitted by applicable law) at a rate of
_____% per annum, compounded quarterly during any such Extension Period. At the
end of the Extension Period, all accrued and unpaid Distributions (but only to
the extent payments are made in respect of the Debentures held by the
Institutional Trustee and to the extent the Institutional Trustee has funds
available therefor) will be payable to the Holders of the Securities in whose
names the Securities are registered in the Security Register on the record date
relating to the Distribution Date on which the Extension Period ends. Prior to
the termination of any such Extension Period, the Debenture Issuer may further
defer payments of interest by further extending such Extension Period; provided
that such Extension Period together with all such previous and further
extensions within such Extension Period may not exceed 20 consecutive quarterly
periods or extend beyond the maturity date of the Debentures. Upon the
termination of any Extension Period and the payment of all amounts then due, the
Debenture Issuer may commence a new Extension Period, subject to the above
requirements.

         Subject to the prior approval of the Federal Reserve Board if such
approval is then required under applicable law, rules, guidelines or policies of
the Federal Reserve Board, the Sponsor shall have the right at any time to
dissolve and liquidate the Trust and cause the Debentures to be distributed to
the holders of the Securities in liquidation of the Trust.

         The Preferred Securities shall be redeemable as provided in the
Declaration.

                                     A-1-4

<PAGE>

                                   ASSIGNMENT

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

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
        (Insert assignee's social security or tax identification number)

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                    (Insert address and zip code of assignee)

and irrevocably appoints

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

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

Date:
     -------------------------

Signature:
          --------------------------------
(Sign exactly as your name appears on the other side of this Preferred Security
Certificate)

Signature Guarantee**:
                       ----------------------------------

-------------------
**       Signature must be guaranteed by an "eligible guarantor institution"
         that is a bank, stockbroker, savings and loan association or credit
         union meeting the requirements of the Registrar, which requirements
         include membership or participation in the Securities Transfer Agents
         Medallion Program ("STAMP") or such other "signature guarantee program"
         as may be determined by the Registrar in addition to, or in
         substitution for, STAMP, all in accordance with the Securities and
         Exchange Act of 1934, as amended.

<PAGE>

                                   EXHIBIT A-2

                       FORM OF COMMON SECURITY CERTIFICATE

                      THIS CERTIFICATE IS NOT TRANSFERABLE

THIS SECURITY IS NOT A SAVINGS ACCOUNT, DEPOSIT OR OTHER OBLIGATION OF ANY BANK
OR A NONBANK SUBSIDIARY THEREOF, AND IS NOT INSURED BY THE FEDERAL DEPOSIT
INSURANCE CORPORATION, THE BANK INSURANCE FUND OR ANY OTHER GOVERNMENTAL AGENCY.

Certificate Number                                   Number of Common Securities

                    Certificate Evidencing Common Securities

                                       of

                              SUNTRUST CAPITAL ____

                            _____% Common Securities
                 (liquidation amount $____ per Common Security)

         SUNTRUST CAPITAL ____, a statutory business trust formed under the laws
of the State of Delaware (the "Trust"), hereby certifies that SunTrust Banks,
Inc. (the "Holder") is the registered owner of __________________ (______)
common securities of the Trust representing beneficial ownership interests in
the assets of the Trust designated the _____% Common Securities (liquidation
amount $____ per Common Security) (the "Common Securities"). The Common
Securities are not transferable. The designation, rights, privileges,
restrictions, preferences and other terms and provisions of the Common
Securities represented hereby are issued and shall in all respects be subject to
the provisions of the Amended and Restated Declaration of Trust of the Trust
dated as of _________________, as the same may be amended from time to time (the
"Declaration"), including the designation of the terms of the Common Securities
as set forth in Annex I to the Declaration. Capitalized terms used herein but
not defined shall have the meaning given them in the Declaration. The Holder is
entitled to the benefits of the Common Securities Guarantee to the extent
provided therein. The Sponsor will provide a copy of the Declaration, the Common
Securities Guarantee and the Indenture to a Holder without charge upon written
request to the Sponsor at its principal place of business.

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

<PAGE>

         By acceptance, the Holder agrees to treat, for United States federal
income tax purposes, the Debentures as indebtedness and the Common Securities as
evidence of indirect beneficial ownership in the Debentures.

         IN WITNESS WHEREOF, the Trust has executed this certificate this ___
day of ___________________.

                                        SUNTRUST CAPITAL ___

                                        By:
                                           ----------------------------------
                                              Name:
                                              Regular Trustee

                          CERTIFICATE OF AUTHENTICATION

         This certificate represents the Common Securities referred to in the
within-mentioned Declaration.

Dated:

BANK ONE, N.A.,
  as Institutional Trustee

By:
   --------------------------------------
     Authorized Officer

                                     A-2-2

<PAGE>

                          [FORM OF REVERSE OF SECURITY]

         Each Common Security will be entitled to receive cumulative
Distributions at a rate of _____% per annum applied to the stated liquidation
amount of $_____ per Common Security. Distributions in arrears for more than one
quarter will bear interest thereon compounded quarterly at a rate of _____% per
annum (to the extent permitted by applicable law). The term "Distributions" as
used herein includes such cash distributions and any such interest payable
unless otherwise stated. A Distribution is payable only to the extent that
payments are made in respect of the Debentures held by the Institutional Trustee
and to the extent the Institutional Trustee has funds available therefor. The
Distribution Amount payable for each Distribution Period will be calculated as
provided in the Declaration.

         Except as otherwise described below, distributions on the Common
Securities will be cumulative, will accrue from ______________ and will be
payable quarterly in arrears on the _____ day of ______________, ______________,
______________ and ______________ of each year, commencing on
___________________ to Holders of record on the close of business on the
______________, ______________, ______________ or ______________ immediately
preceding the relevant Distribution Date, whether or not a Business Day. The
Debenture Issuer has the right under the Indenture to defer payments of interest
on the Debentures by extending the interest payment period at any time and from
time to time for a period not exceeding 20 consecutive quarterly periods (each
an "Extension Period"), provided that no Extension Period shall end on a day
other than an interest payment date for the Debentures or shall extend beyond
the date of the maturity of the Debentures. As a consequence of any Extension
Period, quarterly Distributions will also be deferred. During any Extension
Period, quarterly Distributions will continue to accrue with interest thereon
(to the extent permitted by applicable law) at a rate of ____% per annum
compounded quarterly during any such Extension Period. At the end of the
Extension Period, all accrued and unpaid Distributions (but only to the extent
payments are made in respect of the Debentures held by the Institutional Trustee
and to the extent the Institutional Trustee has funds available therefor) will
be payable to the Holders of the Securities in whose names the Securities are
registered in the Security Register on the record date relating to the
Distribution Date on which the Extension Period ends. Prior to the termination
of any such Extension Period, the Debenture Issuer may further defer payments of
interest by further extending such Extension Period; provided that such
Extension Period together with all such previous and further extensions within
such Extension Period may not exceed 20 consecutive quarterly periods or extend
beyond the maturity date of the Debentures. Upon the termination of any
Extension Period and the payment of all amounts then due, the Debenture Issuer
may commence a new Extension Period, subject to the above requirements.

         Subject to the prior approval of the Federal Reserve Board if such
approval is then required under applicable law, rules, guidelines or policies of
the Federal Reserve Board, the Sponsor shall have the right at any time to
dissolve and liquidate the Trust and cause the Debentures to be distributed to
the holders of the Securities in liquidation of the Trust.

         The Common Securities shall be redeemable as provided in the
Declaration.

                                     A-2-3<PAGE>
                                                                     EXHIBIT 4.4
================================================================================
                              SUNTRUST BANKS, INC.

                       ----------------------------------

                       ----------------------------------

                                    INDENTURE

                         Dated as of November [ ], 2001

                       ----------------------------------

                                 Bank One, N.A.

                                 AS DEBT TRUSTEE

                       ----------------------------------

                          SUBORDINATED DEBT SECURITIES

================================================================================
<PAGE>

                                    TIE-SHEET

         of provisions of Trust Indenture Act of 1939 with Indenture dated as of
November ________________, 2001 between SunTrust Banks, Inc. and Bank One, N.A.,
as Debt Trustee:

<TABLE>
<CAPTION>
ACT SECTION                                           INDENTURE SECTION
<S>                                                <C>
310(a) (1).................................................... 6.09
   (a) (2).................................................... 6.09
   (a) (3)....................................................  N/A
   (a) (4)....................................................  N/A
   (a) (5).................................................... 6.09
   (b)............................................ 6.08, 6.10, 6.11
   (c)........................................................  N/A
311(a) and (b)................................................ 6.13
   (c)........................................................  N/A
312(a)............................................... 4.01, 4.02(a)
   (b)..................................................... 4.02(b)
   (c)..................................................... 4.02(c)
313(a)..................................................... 4.04(a)
   (b)..................................................... 4.04(a)
   (c)..................................................... 4.04(a)
   (d)..................................................... 4.04(b)
314(a).................................................. 4.03, 3.05
   (b)........................................................  N/A
   (c)(1) and (2)............................................. 6.07
   (c)(3).....................................................  N/A
   (d)........................................................  N/A
   (e)........................................................ 6.07
   (f)........................................................  N/A
315(a), (c) and (d)........................................... 6.01
   (b)........................................................ 5.09
   (e)........................................................ 5.10
316(a)........................................................ 1.01
   (a)(1)..................................................... 5.08
   (a)(2).....................................................  N/A
   (b)........................................................ 9.02
   (c)........................................................ 7.01
317(a)(1)..................................................... 5.05
   (a)(2)..................................................... 5.07
   (b)........................................................ 6.05
318(a)........................................................13.08
</TABLE>

--------------

                       THIS TIE-SHEET IS NOT PART OF THIS INDENTURE AS EXECUTED.
<PAGE>

                               TABLE OF CONTENTS*

<TABLE>
<CAPTION>
                                                                                        Page
                                                                                        ----
<S>              <C>                                                                    <C>
                                    ARTICLE I
                                   DEFINITIONS

SECTION 1.01.    Definitions.............................................................  1
                 Affiliate...............................................................  1
                 Authenticating Agent....................................................  1
                 Bankruptcy Law..........................................................  1
                 Board of Directors......................................................  1
                 Board Resolution........................................................  2
                 Business Day............................................................  2
                 Commission..............................................................  2
                 Common Securities.......................................................  2
                 Common Stock............................................................  2
                 Company.................................................................  2
                 Company Request.........................................................  2
                 Corporate Trust Office..................................................  2
                 Custodian...............................................................  2
                 Debt Security...........................................................  2
                 Debt Trustee............................................................  2
                 Declaration.............................................................  3
                 Default.................................................................  3
                 Defaulted Interest......................................................  3
                 Definitive Debt Securities..............................................  3
                 Depositary..............................................................  3
                 Event of Default........................................................  3
                 Exchange Act............................................................  3
                 Federal Reserve.........................................................  3
                 Global Debt Security....................................................  3
                 Holder..................................................................  3
                 Indebtedness............................................................  3
                 Indenture...............................................................  4
                 Institutional Trustee...................................................  4
                 Interest Payment Date...................................................  4
                 Mortgage................................................................  4
                 Officer.................................................................  4
                 Officer's Certificate...................................................  4
                 Opinion of Counsel......................................................  4
                 Other Debt Securities...................................................  4
                 The term outstanding....................................................  4
                 Person..................................................................  5
                 Predecessor Debt Security...............................................  5
                 Preferred Securities....................................................  5
</TABLE>

         i
<PAGE>

<TABLE>
<S>               <C>                                                                      <C>
                  Principal Office of the Debt Trustee....................................  5
                  Responsible Officer.....................................................  5
                  Securities Act..........................................................  5
                  Security Register.......................................................  5
                  Senior Indebtedness.....................................................  6
                  Stated Maturity.........................................................  6
                  Subsidiary..............................................................  6
                  SunTrust Capital Trust..................................................  6
                  Trust Indenture Act.....................................................  6
                  Trust Securities........................................................  6
                  U.S. Government Obligations.............................................  6
SECTION 1.02.     Business Day Certificate................................................  7

                                              ARTICLE II
                                           DEBT SECURITIES

SECTION 2.01.     Forms Generally.........................................................  7
SECTION 2.02.     Form of Debt Trustee's Certificate of Authentication....................  7
SECTION 2.03.     Amount Unlimited; Issuable in Series....................................  8
SECTION 2.04.     Denomination of Debt Securities.........................................  9
SECTION 2.05.     Execution and Authentication............................................ 10
SECTION 2.06.     Global Debt Security.................................................... 10
SECTION 2.07.     Transfer and Exchange................................................... 11
SECTION 2.08.     Replacement Debt Securities............................................. 11
SECTION 2.09.     Temporary Debt Securities............................................... 12
SECTION 2.10.     Cancellation............................................................ 12
SECTION 2.11.     Defaulted Interest...................................................... 13
SECTION 2.12.     CUSIP Numbers........................................................... 14

                                              ARTICLE III
                               PARTICULAR COVENANTS OF THE COMPANY

SECTION 3.01.     Payment of Principal, Premium and Interest............................... 14
SECTION 3.02.     Offices for Notices and Payments, etc.................................... 14
SECTION 3.03.     Appointments to Fill Vacancies in Debt Trustee's Office.................. 15
SECTION 3.04.     Provision as to Paying Agent............................................. 15
SECTION 3.05.     Certificate to Debt Trustee.............................................. 16
SECTION 3.06.     Payment Upon Resignation or Removal...................................... 16

                                               ARTICLE IV
                    HOLDERS' LISTS AND REPORTS BY THE COMPANY AND THE DEBT TRUSTEE

SECTION 4.01.     Holders' Lists........................................................... 17
SECTION 4.02.     Preservation and Disclosure of Lists..................................... 17
SECTION 4.03.     Reports by the Company................................................... 19
SECTION 4.04.     Reports by the Debt Trustee.............................................. 20

                                               ARTICLE V
                   REMEDIES OF THE DEBT TRUSTEE AND HOLDERS ON EVENT OF DEFAULT

SECTION 5.01.     Events of Default......................................................... 21
SECTION 5.02.     Payment of Debt Securities on Default; Suit Therefor...................... 23
SECTION 5.03.     Application of Moneys Collected by Debt Trustee........................... 25
SECTION 5.04.     Proceedings by Holders.................................................... 25
</TABLE>

         ii
<PAGE>

<TABLE>
<S>              <C>                                                                         <C>
SECTION 5.05.    Proceedings by Debt Trustee................................................ 26
SECTION 5.06.    Trustee May File Proofs of Claim........................................... 26
SECTION 5.07.    Remedies Cumulative and Continuing......................................... 27
SECTION 5.08.    Direction of Proceedings and Waiver of Defaults by Majority of Holders..... 27
SECTION 5.09.    Notice of Defaults......................................................... 28
SECTION 5.10.    Undertaking to Pay Costs................................................... 29

                                             ARTICLE VI
                                      CONCERNING THE DEBT TRUSTEE

SECTION 6.01.    Duties and Responsibilities of Debt Trustee................................ 29
SECTION 6.02.    Reliance on Documents, Opinions, etc. Except as otherwise provided
                    in Section 6.01: ....................................................... 31
SECTION 6.03.    No Responsibility for Recitals, etc........................................ 32
SECTION 6.04.    Debt Trustee, Authenticating Agent, Paying Agents, Transfer Agents or
                    Registrar May Own Debt Securities....................................... 33
SECTION 6.05.    Moneys to be Held in Trust................................................. 33
SECTION 6.06.    Compensation and Expenses of Debt Trustee.................................. 33
SECTION 6.07.    Officer's Certificate and Opinion of Counsel as Evidence................... 34
SECTION 6.08.    Conflicting Interest of Debt Trustee....................................... 35
SECTION 6.09.    Eligibility of Debt Trustee................................................ 35
SECTION 6.10.    Resignation or Removal of Debt Trustee..................................... 35
SECTION 6.11.    Acceptance by Successor Debt Trustee....................................... 37
SECTION 6.12.    Succession by Merger, etc.................................................. 38
SECTION 6.13.    Limitation on Rights of Debt Trustee as a Creditor......................... 39
SECTION 6.14.    Authenticating Agents...................................................... 39

                                               ARTICLE VII
                                         CONCERNING THE HOLDERS

SECTION 7.01.    Action by Holders.......................................................... 40
SECTION 7.02.    Proof of Execution by Holders.............................................. 41
SECTION 7.03.    Who Are Deemed Absolute Owners............................................. 41
SECTION 7.04.    Debt Securities Owned by Company Deemed Not Outstanding.................... 41
SECTION 7.05.    Revocation of Consents; Future Holders Bound............................... 42

                                               ARTICLE VIII
                                             HOLDERS' MEETINGS

SECTION 8.01.    Purposes of Meetings....................................................... 42
SECTION 8.02.    Call of Meetings by Debt Trustee........................................... 43
SECTION 8.03.    Call of Meetings by Company or Holders..................................... 43
SECTION 8.04.    Qualifications for Voting.................................................. 43
SECTION 8.05.    Regulations................................................................ 43
SECTION 8.06.    Voting..................................................................... 44

                                                 ARTICLE IX
                                                 AMENDMENTS

SECTION 9.01.    Without Consent of Holders................................................. 44
SECTION 9.02.    With Consent of Holders.................................................... 46
SECTION 9.03.    Compliance with Trust Indenture Act; Effect of Supplemental Indentures..... 47
</TABLE>

         iii
<PAGE>

<TABLE>
<S>              <C>                                                                         <C>
SECTION 9.04.    Notation on Debt Securities................................................ 48
SECTION 9.05.    Evidence of Compliance of Supplemental Indenture to be Furnished to
                     Debt Trustee........................................................... 48

                                             ARTICLE X
                             CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE

SECTION 10.01.   Company May Consolidate, etc., on  Certain Terms........................... 48
SECTION 10.02.   Successor Corporation to be Substituted for Company........................ 49
SECTION 10.03.   Opinion of Counsel to be Given Debt Trustee................................ 49

                                              ARTICLE XI
                             SATISFACTION AND DISCHARGE OF INDENTURE

SECTION 11.01.   Discharge of Indenture..................................................... 50
SECTION 11.02.   Deposited Moneys and U.S. Government Obligations to be Held in Trust
                     by Debt Trustee........................................................ 50
SECTION 11.03.   Paying Agent to Repay Moneys Held.......................................... 51
SECTION 11.04.   Return of Unclaimed Moneys................................................. 51
SECTION 11.05.   Defeasance Upon Deposit of Moneys or U.S. Government Obligations........... 51

                                              ARTICLE XII
                    IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS

SECTION 12.01.   Indenture and Debt Securities  Solely Corporate Obligations................ 53

                                               ARTICLE XIII
                                        MISCELLANEOUS PROVISIONS

SECTION 13.01.   Successors................................................................. 54
SECTION 13.02.   Official Acts by Successor    Corporation.................................. 54
SECTION 13.03.   Surrender of Company Powers................................................ 54
SECTION 13.04.   Addresses for Notices, etc................................................. 54
SECTION 13.05.   Governing Law.............................................................. 54
SECTION 13.06.   Evidence of Compliance with Conditions Precedent........................... 55
SECTION 13.07.   Business Days.............................................................. 55
SECTION 13.08.   Trust Indenture Act to Control............................................. 55
SECTION 13.09.   Table of Contents, Headings, etc........................................... 55
SECTION 13.10.   Execution in Counterparts.................................................. 56
SECTION 13.11.   Separability............................................................... 56
SECTION 13.12.   Assignment................................................................. 56

                                             ARTICLE XIV
                                     REDEMPTION OF DEBT SECURITIES

SECTION 14.01.   Applicability of Article................................................... 56
SECTION 14.02.   Notice of Redemption; Selection of Debt Securities......................... 56
SECTION 14.03.   Payment of Debt Securities Called for Redemption........................... 57

                                               ARTICLE XV
                                       SUBORDINATION OF DEBT SECURITIES

SECTION 15.01.   Agreement to Subordinate................................................... 58
SECTION 15.02.   Default on Senior Indebtedness............................................. 58
SECTION 15.03.   Liquidation; Dissolution; Bankruptcy....................................... 59
SECTION 15.04.   Subrogation................................................................ 60
</TABLE>

         iv
<PAGE>

<TABLE>
<S>             <C>                                                                          <C>
SECTION 15.05.  Debt Trustee to Effectuate Subordination...................................   61
SECTION 15.06.  Notice by the Company......................................................   61
SECTION 15.07.  Rights of the Debt Trustee; Holders of Senior Indebtedness.................   62
SECTION 15.08.  Subordination May Not Be Impaired..........................................   63

         TESTIMONIUM.......................................................................   79

         SIGNATURES .......................................................................   79

         EXHIBIT A ........................................................................  A-1
</TABLE>

         v
<PAGE>

         THIS INDENTURE, dated as of November________ , 2001, between SunTrust
Banks, Inc., a Georgia corporation (the "Company"), and Bank One, N.A., a
national banking association, as trustee (the "Debt Trustee"),

                                   WITNESSETH:

         In consideration of the premises, and the purchase of the Debt
Securities by the Holders thereof, the Company covenants and agrees with the
Debt Trustee for the equal and proportionate benefit of the respective Holders
from time to time of the Debt Securities, as follows:

                                   ARTICLE I

                                   DEFINITIONS

                           SECTION 1.01.     Definitions.

                           The terms defined in this Section 1.01 (except as
herein otherwise expressly provided or unless the context otherwise requires)
for all purposes of this Indenture shall have the respective meanings specified
in this Section 1.01. All other terms used in this Indenture which are defined
in the Trust Indenture Act of 1939, as amended (the "Trust Indenture Act"), or
which are by reference therein defined in the Securities Act, shall (except as
herein otherwise expressly provided or unless the context otherwise requires)
have the meanings assigned to such terms in said Trust Indenture Act and in said
Securities Act as in force at the date of this Indenture as originally executed.
All accounting terms used herein and not expressly defined shall have the
meanings assigned to such terms in accordance with generally accepted accounting
principles, and the term "generally accepted accounting principles" means such
accounting principles as are generally accepted at the time of any computation.
The words "herein", "hereof" and "hereunder" and other words of similar import
refer to this Indenture as a whole and not to any particular Article, Section or
other subdivision. Headings are used for convenience of reference only and do
not affect interpretation. The singular includes the plural and vice versa.

                           "Affiliate" shall have the meaning given to that term
in Rule 405 under the Securities Act or any successor rule thereunder.

                           "Authenticating Agent" shall mean any agent or agents
of the Debt Trustee which at the time shall be appointed and acting pursuant
to Section 6.14.

                            "Bankruptcy Law" shall mean Title 11, U.S. Code, or
any similar Federal or State law for the relief of debtors.

                           "Board of Directors" shall mean either the Board of
Directors of the Company or any duly authorized committee of that board.
<PAGE>

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

                            "Business Day" means a day other than (a) a day on
which banking institutions in New York, New York or Chicago, Illinois are
authorized or required by law or executive order to remain closed or (b) a day
on which the Corporate Trust Office of the Debt Trustee is closed for business.

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

                           "Common Securities" shall mean the common beneficial
ownership interests in the assets of the applicable SunTrust Capital Trust.

                           "Common Stock" shall mean the Common Stock, par value
$1.00 per share, of the Company or any other class of stock resulting from
changes or reclassifications of such Common Stock consisting solely of changes
in par value, or from par value to no par value, or from no par value to par
value.

                           "Company" shall mean SunTrust Banks, Inc., a Georgia
corporation, and, subject to the provisions of Article X, shall include its
successors and assigns.

                           "Company Request" or "Company Order" shall mean a
written request or order signed in the name of the Company by the Chairman, the
Chief Executive Officer, the President, a Vice Chairman, a Vice President, the
Comptroller, the Secretary or an Assistant Secretary of the Company, and
delivered to the Debt Trustee.

                           "Corporate Trust Office" means, when used with
respect to the Debt Trustee, the Principal Office of the Debt Trustee.

                           "Custodian" shall mean any receiver, trustee,
assignee, liquidator, or similar official under any Bankruptcy Law.

                           "Debt Security" or "Debt Securities" means any Debt
Security or Debt Securities, as the case may be, authenticated and delivered
under this Indenture.

                           "Debt Trustee" shall mean the Person identified as
"Debt Trustee" in the first paragraph hereof, and, subject to the provisions of
Article VI hereof, shall also include its successors and assigns and, if at any
time there is more than one Person acting in such capacity hereunder, "Trustee"
shall mean each such Person acting

         2
<PAGE>

as Debt Trustee hereunder. The term "Debt Trustee" as used with respect to a
particular series of the Debt Securities shall mean the trustee with respect to
that series.

                           "Declaration" shall mean, with respect to a SunTrust
Capital Trust, the Declaration of Trust, as amended, of such SunTrust Capital
Trust.

                           "Default" means any event, act or condition that with
notice or lapse of time, or both, would constitute an Event of Default.

                           "Defaulted Interest" shall have the same meaning set
forth in Section 2.11.

                           "Definitive Debt Securities" shall mean those
securities issued in fully registered certificated form not otherwise in global
form.

                           "Depositary" shall mean, with respect to the Debt
Securities, The Depository Trust Company, New York, New York, another clearing
agency, or any successor registered as a clearing agency under the Exchange Act
or other applicable statute or regulation, as designated by the Company.

                           "Event of Default" shall mean any event specified in
Section 5.01, continued for the period of time, if any, and after the giving
of the notice, if any, therein designated.

                           "Exchange Act" shall mean the Securities Exchange Act
of 1934, as amended from time to time.

                           "Federal Reserve" shall mean the Board of Governors
of the Federal Reserve System.

                           "Global Debt Security" shall mean, with respect to
any series of Debt Securities, a Debt Security executed by the Company and
delivered by the Debt Trustee to the Depositary or pursuant to the Depositary's
instruction, all in accordance with this Indenture, which shall be registered in
the name of the Depositary or its nominee.

                           "Holder" shall mean any Person in whose name at the
time a particular Debt Security is registered on the Security Register kept by
the Company or the Debt Trustee for that purpose in accordance with the terms
hereof.

                           "Indebtedness" shall mean (i) every obligation of the
Company for money borrowed; (ii) every obligation of the Company evidenced
by bonds, debentures, notes or other similar instruments, including obligations
incurred in connection with the acquisition of property, assets or businesses;
(iii) every reimbursement obligation of the Company with respect to letters of
credit, banker's acceptances or similar facilities issued for the account of the
Company; (iv) every obligation of the Company issued or assumed as the deferred
purchase price of property or services (but excluding trade accounts payable or
accrued liabilities arising in the ordinary course of business); (v) every
capital lease obligation of the Company; (vi) every obligation of

         3
<PAGE>

the Company for claims in respect of derivative products, including interest
rate, foreign exchange rate and commodity forward contracts, options and swaps
and other similar arrangements; and (vii) every obligation of the type referred
to in clauses (i) through (vi) of another Person and all dividends of another
Person the payment of which, in either case, the Company has guaranteed or is
responsible or liable for, directly or indirectly, as obligor or otherwise.

                           "Indenture" shall mean this instrument as originally
executed or, if amended or supplemented as herein provided, as so amended or
supplemented.

                           "Institutional Trustee" shall mean, with respect to a
SunTrust Capital Trust, the trustee acting as such Institutional Trustee
under the Declaration of such SunTrust Capital Trust.

                           "Interest Payment Date" means, when used with respect
to any series of Debt Securities, the Stated Maturity of an installment of
interest on such Debt Securities.

                           "Mortgage" shall mean and include any mortgage,
pledge, lien, security interest, conditional sale or other title retention
agreement or other similar encumbrance.

                           "Officer" shall mean any of the Chairman, the Chief
Executive Officer, the President, a Vice President, the Chief Financial Officer,
the Secretary or an Assistant Secretary of the Company.

                           "Officer's Certificate" shall mean a certificate
signed by an Officer and delivered to the Debt Trustee. Each such certificate
shall include the statements provided for in Section 13.06 if and to the extent
required by the provisions thereof.

                           "Opinion of Counsel" shall mean a written opinion of
counsel, who may be an employee of the Company, and who shall be reasonably
acceptable to the Debt Trustee. Each such opinion shall include the statements
provided for in Section 13.06 if and to the extent required by the provisions
thereof.

                           "Other Debt Securities" means all junior subordinated
debt securities issued by the Company from time to time under the Indenture.

                           The term "outstanding" when used with reference to
the Debt Securities, shall mean, subject to the provisions of Section 7.04, as
of any particular time, all Debt Securities authenticated and delivered by the
Debt Trustee or the Authenticating Agent under this Indenture, except

                           (a)      Debt Securities theretofore cancelled by the
                                    Debt Trustee or the Authenticating Agent or
                                    delivered to the Debt Trustee for
                                    cancellation or that have previously been
                                    cancelled;

                           (b)      Debt Securities, or portions thereof, for
                                    the payment or prepayment or redemption of
                                    which

         4
<PAGE>

                                    moneys in the necessary amount shall have
                                    been deposited in trust with the Debt
                                    Trustee or with any paying agent (other than
                                    the Company) or shall have been set aside
                                    and segregated in trust by the Company (if
                                    the Company shall act as its own paying
                                    agent); provided that, if such Debt
                                    Securities, or portions thereof, are to be
                                    redeemed prior to maturity thereof, notice
                                    of such redemption shall have been given as
                                    set forth in Article XIV or provision
                                    satisfactory to the Debt Trustee shall have
                                    been made for giving such notice; and

                           (c)      Debt Securities in lieu of or in
                                    substitution for which other Debt Securities
                                    shall have been authenticated and delivered
                                    pursuant to the terms of Section 2.08 unless
                                    proof satisfactory to the Company and the
                                    Debt Trustee is presented that any such Debt
                                    Securities are held by bona fide holders in
                                    due course.

                           "Person" shall mean any individual, corporation,
estate, partnership, joint venture, association, joint-stock company, limited
liability company, trust, unincorporated organization or government or any
agency or political subdivision thereof.

                           "Predecessor Debt Security" of any particular Debt
Security means every previous Debt Security evidencing all or a portion of the
same debt and as that evidenced by such particular Debt Security; and, for the
purposes of this definition, any Debt Security authenticated and delivered under
Section 2.08 in lieu of a lost, destroyed or stolen Debt Security shall be
deemed to evidence the same debt as the lost, destroyed or stolen Debt -
Security.

                           "Preferred Securities" shall mean the preferred
beneficial ownership interests in the assets of the applicable SunTrust Capital
Trust.

                           "Principal Office of the Debt Trustee", or other
similar term, shall mean the office or offices of the Debt Trustee, at which at
any particular time its corporate trust business shall be administered, and
which at the date hereof are located at 153 West 51st Street, New York, New York
10019.

                           "Responsible Officer" shall mean any officer of the
Debt Trustee's Corporate Trust Administration department with direct
responsibility for the administration of this Indenture and also means, with
respect to a particular corporate trust matter, any other officer to whom such
matter is referred because of his or her knowledge of and familiarity with the
particular subject.

                           "Securities Act" shall mean the Securities Act of
1933, as amended from time to time.

                           "Security Register" shall mean the list of Holders
provided to the Debt Trustee pursuant to Section 4.01, or any security

         5
<PAGE>

register maintained by a security registrar for the Debt Securities appointed by
the Company following the execution of a supplemental indenture providing for
transfer procedures as provided for in Section 2.06(a).

                           "Senior Indebtedness" shall mean the principal of,
premium, if any, and interest on, all Indebtedness, whether outstanding on the
date of execution of this Indenture or hereafter created, assumed or incurred,
except Indebtedness that by its terms is expressly stated to be not superior in
right of payment to the Debt Securities or to rank pari passu with the Debt
Securities, and any deferrals, renewals or extensions of such Senior
Indebtedness.

                           "Stated Maturity" means, when used with respect to
any Debt Security, or any installment of principal thereof or interest thereon,
the date specified in such Debt Security as the fixed date on which principal of
such Debt Security, or such installment of principal or interest, is due and
payable.

                           "Subsidiary" shall mean with respect to any Person,
(i) any corporation at least a majority of the outstanding voting stock of
which is owned, directly or indirectly, by such Person or by one or more of its
Subsidiaries, or by such Person and one or more of its Subsidiaries, (ii) any
general partnership, joint venture or similar entity, at least a majority of
whose outstanding partnership or similar interests shall at the time be owned by
such Person, or by one or more of its Subsidiaries, or by such Person and one or
more of its Subsidiaries and (iii) any limited partnership of which such Person
or any of its Subsidiaries is a general partner. For the purposes of this
definition, "voting stock" means shares, interests, participations or other
equivalents in the equity interest (however designated) in such Person having
ordinary voting power for the election of a majority of the directors (or the
equivalent) of such Person, other than shares, interests, participations or
other equivalents having such power only by reason of the occurrence of a
contingency.

                           "SunTrust Capital Trust" shall mean each of SunTrust
Capital V and SunTrust Capital VI, each a Delaware statutory business trust, or
any other similar trust created for the purpose of issuing Trust Securities in
connection with the issuance of Debt Securities under this Indenture. "Trust
Indenture Act" shall mean the Trust Indenture Act of 1939, as amended from time
to time.

                           "Trust Indenture Act" shall mean the Trust Indenture
Act of 1939, as amended from time to time.

                           "Trust Securities" shall mean the Common Securities
and Preferred Securities of the applicable SunTrust Capital Trust.

                           "U.S. Government Obligations" shall mean securities
that are (i) direct obligations of the United States of America for the payment
of which its full faith and credit is pledged or (ii) obligations of a Person
controlled or supervised by and acting as an agency or instrumentality of the
United States of America the payment of which is unconditionally guaranteed as a
full faith and credit obligation by the United States of America, which, in
either case under clauses (i) or (ii) are not callable or prepayable at the
option of the

         6
<PAGE>

issuer thereof, and shall also include a depository receipt issued by a bank or
trust company as custodian with respect to any such U.S. Government Obligation
or a specific payment of interest on or principal of any such U.S. Government
Obligation held by such custodian for the account of the holder of a depository
receipt, provided that (except as required by law) such custodian is not
authorized to make any deduction from the amount payable to the holder of such
depository receipt from any amount received by the custodian in respect of the
U.S. Government Obligation or the specific payment of interest on or principal
of the U.S. Government Obligation evidenced by such depository receipt.

                           SECTION 1.02.     Business Day Certificate.

                           On the date of execution and delivery of this
Indenture (with respect to the remainder of calendar year 2001) and thereafter,
within 15 days prior to the end of each calendar year while this Indenture
remains in effect (with respect to the succeeding calendar years), the Company
shall deliver to the Debt Trustee an Officer's Certificate specifying the days
on which banking institutions or trust companies in New York, New York or
Chicago, Illinois are authorized or obligated by law or executive order to be
closed.

                                   ARTICLE II

                                 DEBT SECURITIES

                           SECTION 2.01.     Forms Generally.

                           The Debt Securities of each series shall be in
substantially the form as shall be established by or pursuant to a Board
Resolution and as set forth in an Officer's Certificate of the Company or in one
or more indentures supplemental hereto, in each case with such appropriate
insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture, and may have such letters, numbers or other marks
of identification and such legends or endorsements placed thereon as may be
required to comply with any law or with any rules made pursuant thereto or with
any rules of any securities exchange or all as may, consistently herewith, be
determined by the officers executing such Debt Securities, as evidenced by their
execution of such Debt Securities.

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

                           SECTION 2.02.     Form of Debt Trustee's Certificate
                                             of Authentication.

                           The Debt Trustee's Certificate of Authentication on
all Debt Securities shall be in substantially the following form:

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

         7
<PAGE>

                  Bank One, N.A.,
                  as Debt Trustee

                  By:
                     ------------------------------------------
                  Authorized Officer

                           SECTION 2.03.     Amount Unlimited; Issuable in
                                             Series.

                  The aggregate principal amount of Debt Securities which may be
authenticated and delivered under this Indenture is unlimited. The Debt
Securities may be issued in one or more series up to the aggregate principal
amount of securities of that series from time to time authorized by or pursuant
to a Board Resolution of the Company or pursuant to one or more indentures
supplemental hereto. Prior to the initial issuance of Debt Securities of any
series, there shall be established in or pursuant to a Board Resolution of the
Company and set forth in an Officer's Certificate of the Company or established
in one or more indentures supplemental:

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

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

                                    (iii)    the date of dates on which the
         principal of and premium, if any, on the Debt Securities of the series
         is payable;

                                    (iv)     the rate or rates at which the Debt
         Securities of the series shall bear interest, if any, or the method by
         which such interest may be determined, the date or dates from which
         such interest shall accrue, the Interest Payment Dates on which such
         interest shall be payable or the manner of determination of such
         Interest Payment Dates and the record dates for the determination of
         holders to whom interest is payable on any such Interest Payment Dates;

                                    (v)      the place or places where the
         principal of, premium, if any, and any interest on Debt Securities of
         the series shall be payable;

                                    (vi)     the right, if any, to extend the
         interest payment periods and the duration of such extension;

                                    (vii)    the price or prices at which, the
         period or periods within which, the event or events giving rise to, and
         the terms and conditions upon which Debt Securities of the series

         8
<PAGE>

         may be redeemed, in whole or in part, at the option of the Company,
         pursuant to any sinking fund or otherwise;

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

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

                                    (x)      any Events of Default with respect
         to the Debt Securities of a particular series, if not set forth herein;

                                    (xi)     the form of the Debt Securities of
         the series including the form of the Certificate of Authentication of
         such series;

                                    (xii)    any trustee, authenticating or
         paying agents, warrant agents, transfer agents or registrars with
         respect to the Debt Securities of such series;

                                    (xiii)   whether the Debt Securities of the
         series shall be issued in whole or in part in the form of one or more
         Global Debt Securities and, in such case, the Depositary for such
         Global Debt Security or Global Debt Securities, and whether beneficial
         owners of interests in any such Global Debt Securities may exchange
         such interests for other Debt Securities of such series in the manner
         provided in Section 2.07, and the manner and the circumstances under
         which and the place or places where any such exchanges may occur if
         other than in the manner provided in Section 2.07, and any other terms
         of the series relating to the global nature of the Global Debt
         Securities of such series and the exchange, registration or transfer
         thereof and the payment of any principal, premium, if any, or interest
         thereon; and

                                    (xiv)    any other terms of the series
         (which terms shall not be inconsistent with the provisions of this
         Indenture).

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

                           If any of the terms of the series are established by
action taken pursuant to a Board Resolution of the Company, a copy of an
appropriate record of such action shall be certified by the Secretary or an
Assistant Secretary of the Company and delivered to the Debt Trustee at or prior
to the delivery of the Officer's Certificate of the Company setting forth the
terms of the series.

                           SECTION 2.04.     Denomination of Debt Securities.

         9
<PAGE>

                           The Debt Securities of each series shall be issuable
as registered Debt Securities without coupons and in such denominations as
shall be specified as contemplated by Section 2.03. Subject to Section 2.03(ix),
the Debt Securities of such series shall be issuable in the denominations of
$1,000 and any integral multiple thereof. The Debt Securities shall be numbered,
lettered, or otherwise distinguished in such manner or in accordance with such
plans as the officers of the Company executing the same may determine with the
approval of the Debt Trustee as evidenced by the execution and authentication
thereof.

                           SECTION 2.05.     Execution and Authentication.

                           Two Officers shall sign the Debt Securities for the
Company by manual or facsimile signature. If an Officer whose signature is on a
Debt Security no longer holds that office at the time the Debt Security is
authenticated, the Debt Security shall nevertheless be valid.

                           A Debt Security shall not be valid until
authenticated by the manual signature of the Debt Trustee. The signature of the
Debt Trustee shall be conclusive evidence that the Debt Security has been
authenticated under this Indenture. The form of Debt Trustee's certificate of
authentication to be borne by the Debt Securities shall be substantially as set
forth in Exhibit A hereto.

                           SECTION 2.06.     Global Debt Security.

                           (a)      A Global Debt Security with respect to any
series may be transferred, in whole but not in part, only to another nominee of
the Depositary, or to a successor Depositary selected or approved by the Company
or to a nominee of such successor Depositary.

                           (b)      If at any time the Depositary notifies the
Company that it is unwilling or unable to continue as Depositary or the
Depositary has ceased to be a clearing agency registered under the Exchange Act,
and a successor Depositary is not appointed by the Company within 90 days after
the Company receives such notice or becomes aware of such condition, as the case
may be, the Company will execute, and the Debt Trustee, upon receipt of a
Company Order, will authenticate and make available for delivery the Definitive
Debt Securities, in authorized denominations, and in an aggregate principal
amount equal to the principal amount of the Global Debt Security, in exchange
for such Global Debt Security. If there is an Event of Default, the Depositary
shall have the right to exchange the Global Debt Securities for Definitive Debt
Securities. In addition, the Company may at any time determine that the Debt
Securities of any series shall no longer be represented by a Global Debt
Security. In the event of such an Event of Default or such a determination, the
Company shall execute, and subject to this Section 2.06, the Debt Trustee, upon
receipt of an Officer's Certificate evidencing such determination by the Company
and a Company Order, will authenticate and make available for delivery the
Definitive Debt Securities of such series, in authorized denominations, and in
an aggregate principal amount equal to the principal amount of the Global Debt
Security in exchange for such Global Debt Security. Upon the exchange of the
Global Debt Security for such Definitive Debt Securities, in authorized

         10
<PAGE>

denominations, the Global Debt Security shall be cancelled by the Debt Trustee.
Such Definitive Debt Securities issued in exchange for the Global Debt Security
shall be registered in such names and in such authorized denominations as the
Depositary, pursuant to instructions from its direct or indirect participants or
otherwise, shall instruct the Debt Trustee. The Debt Trustee shall deliver such
Definitive Debt Securities to the Depositary for delivery to the Persons in
whose names such Definitive Debt Securities are so registered.

                           SECTION 2.07.     Transfer and Exchange.

                           To permit registrations of transfers and exchanges,
the Company shall execute and the Debt Trustee shall authenticate Definitive
Debt Securities and Global Debt Securities at the request of the Security
Registrar. All Definitive Debt Securities and Global Debt Securities issued upon
any registration of transfer or exchange of Definitive Debt Securities or Global
Debt Securities shall be the valid obligations of the Company, evidencing the
same debt, and entitled to the same benefits under this Indenture, as the
Definitive Debt Securities or Global Debt Securities surrendered upon such
registration of transfer or exchange.

                           No service charge shall be made to a Holder 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.

                           The Company shall not be required to (i) issue,
register the transfer of or exchange Debt Securities of any series during a
period beginning at the opening of business 15 days before the day of mailing of
a notice of prepayment or any notice of selection of Debt Securities of such
series for prepayment under Article XIV hereof and ending at the close of
business on the day of such mailing; or (ii) register the transfer of or
exchange any Debt Security of such series so selected for prepayment in whole or
in part, except the unredeemed portion of any Debt Security being prepaid in
part.

                           Prior to due presentment for the registration of a
transfer of any Debt Security, the Debt Trustee, the Company and any agent of
the Debt Trustee or the Company may deem and treat the Person in whose name any
Debt Security is registered as the absolute owner of such Debt Security for the
purpose of receiving payment of principal of, premium, if any, and interest on
such Debt Securities, and none of the Debt Trustee, the Company and any agents
of the Debt Trustee or the Company shall be affected by notice to the contrary.

                           SECTION 2.08.     Replacement Debt Securities.

                           If any mutilated Debt Security is surrendered to the
Debt Trustee, or the Company and the Debt Trustee receive evidence to their
satisfaction of the destruction, loss or theft of any Debt Security, and there
is delivered to the Company and the Debt Trustee such security or indemnity as
may be required by each of them to save each of them harmless, then the Company
shall issue and the Debt Trustee shall authenticate a replacement Debt Security
if the Debt Trustee's requirements for replacements of Debt Securities are met.
An

         11
<PAGE>

indemnity bond must be supplied by the Holder that is sufficient in the
reasonable judgment of the Debt Trustee and the Company to protect the Company,
the Debt Trustee, any agent thereof or any authenticating agent from any loss
that any of them may suffer if a Debt Security is replaced. The Company or the
Debt Trustee may charge for its expenses in replacing a Debt Security.

                           Every replacement Debt Security is an obligation of
the Company and shall be entitled to all of the benefits of this Indenture
equally and proportionately with all other Debt Securities duly issued
hereunder.

                           SECTION 2.09.     Temporary Debt Securities.

                           Pending the preparation of Definitive Debt Securities
of any series, the Company may execute, and upon receipt of a Company Order
the Debt Trustee shall authenticate and make available for delivery, temporary
Debt Securities of such series that are printed, lithographed, typewritten,
mimeographed or otherwise reproduced, in any authorized denomination,
substantially of the tenor of the Definitive Debt Securities in lieu of which
they are issued and with such appropriate insertions, omissions, substitutions
and other variations as the officers executing such Debt Securities may
determine, as conclusively evidenced by their execution of such Debt Securities.

                           If temporary Debt Securities of any series are
issued, the Company shall cause Definitive Debt Securities to be prepared
without unreasonable delay. The Definitive Debt Securities of such series shall
be printed, lithographed or engraved, or provided by any combination thereof, or
in any other manner permitted by the rules and regulations of any applicable
securities exchange, all as determined by the officers executing such Definitive
Debt Securities. After the preparation of Definitive Debt Securities of such
series, the temporary Debt Securities of such series shall be exchangeable for
Definitive Debt Securities upon surrender of such temporary Debt Securities at
the office or agency maintained by the Company for such purpose pursuant to
Section 3.02 hereof, without charge to the Holder. Upon surrender for
cancellation of any one or more temporary Debt Securities of any series, the
Company shall execute, and the Debt Trustee shall authenticate and make
available for delivery, in exchange therefor the same aggregate principal amount
of Definitive Debt Securities of such series of authorized denominations. Until
so exchanged, the temporary Debt Securities shall in all respects be entitled to
the same benefits under this Indenture as Definitive Debt Securities.

                           SECTION 2.10.     Cancellation.

                           Unless otherwise provided with respect to a series of
Debt Securities, all Debt Securities and coupons surrendered for payment,
registration of transfer, exchange, repayment or redemption shall, if
surrendered to any Person other than the Debt Trustee, be delivered to the Debt
Trustee. All Debt Securities so delivered or surrendered directly to the Debt
Trustee for any such purpose shall be promptly cancelled by it. The Company may
at any time, deliver to the Debt Trustee for cancellation any Debt Securities
previously

         12
<PAGE>

authenticated and delivered hereunder that the Company may have acquired in any
manner whatsoever, and all Debt Securities so delivered shall be promptly
cancelled by the Debt Trustee. No Debt Security shall be authenticated in lieu
of or in exchange for any Debt Security cancelled as provided in this Section,
except as expressly permitted by this Indenture or such Debt Securities. All
cancelled Debt Securities or coupons held by the Debt Trustee shall be disposed
of by the Debt Trustee in accordance with its customary procedures and the Debt
Trustee shall deliver a certificate of such disposition to the Company. The
Company may not issue new Debt Securities to replace Debt Securities that have
been prepaid or paid or that have been delivered to the Debt Trustee for
cancellation.

                           SECTION 2.11.     Defaulted Interest.

                           Any interest on any Debt Security that is payable,
but is not punctually paid or duly provided for, on any Interest Payment Date
(herein called "Defaulted Interest") shall forthwith cease to be payable to the
Holder on the relevant regular record date by virtue of having been such Holder;
and such Defaulted Interest shall be paid by the Company, at its election, as
provided in clause (a) or clause (b) below:

                           (a)      The Company may make payment of any
Defaulted Interest on Debt Securities of any series to the Persons in whose
names such Debt Securities (or their respective Predecessor Debt Securities) are
registered at the close of business on a special record date for the payment of
such Defaulted Interest, which shall be fixed in the following manner: the
Company shall notify the Debt Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each such Debt Security and the date of the
proposed payment, and at the same time the Company shall deposit with the Debt
Trustee an amount of money equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or shall make arrangements satisfactory to
the Debt Trustee for such deposit prior to the date of the proposed payment,
such money when deposited to be held in trust for the benefit of the Persons
entitled to such Defaulted Interest as in this clause provided. Thereupon the
Debt Trustee shall fix a special record date for the payment of such Defaulted
Interest which shall not be more than 15 nor less than 10 days prior to the date
of the proposed payment and not less than 10 days after the receipt by the Debt
Trustee of the notice of the proposed payment. The Debt Trustee shall promptly
notify the Company of such special record date and, in the name and at the
expense of the Company, shall cause notice of the proposed payment of such
Defaulted Interest and the special record date therefor to be mailed, first
class postage prepaid, to each Holder at his or her address as it appears in the
Security Register, not less than 10 days prior to such special record date.
Notice of the proposed payment of such Defaulted Interest and the special record
date therefor having been mailed as aforesaid, such Defaulted Interest shall be
paid to the Persons in whose names such Debt Securities (or their respective
Predecessor Debt Securities) are registered on such special record date and
shall be no longer payable pursuant to the following clause (b).

                           (b)      The Company may make payment of any
Defaulted Interest on any Debt Securities in any other lawful manner not

         13
<PAGE>

inconsistent with the requirements of any securities exchange on which such Debt
Securities may be listed, and upon such notice as may be required by such
exchange, if, after notice given by the Company to the Debt Trustee of the
proposed payment pursuant to this clause, such manner of payment shall be deemed
practicable by the Debt Trustee.

                           SECTION 2.12.     CUSIP Numbers.

                           The Company in issuing the Debt Securities may use
"CUSIP" numbers (if then generally in use), and, if so, the Debt Trustee shall
use "CUSIP" numbers in notices of prepayment as a convenience to Holders;
provided that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Debt Securities or as
contained in any notice of a prepayment and that reliance may be placed only on
the other identification numbers printed on the Debt Securities, and any such
prepayment shall not be affected by any defect in or omission of such numbers.
The Company will promptly notify the Debt Trustee of any change in the CUSIP
numbers.

                                  ARTICLE III

                       PARTICULAR COVENANTS OF THE COMPANY

                           SECTION 3.01.     Payment of Principal, Premium and
                                             Interest.

                           The Company covenants and agrees for the benefit of
each series of Debt Securities that it will duly and punctually pay or cause
to be paid the principal of, premium, if any, and interest on the Debt
Securities of such series at the place, at the respective times and in the
manner provided herein and established with respect to such Debt Securities.
Except as may be provided in a supplemental indenture hereto with respect to any
series of Debt Securities, each installment of interest on such Debt Securities
may be paid by mailing checks for such interest payable to the order of the
Holder entitled thereto as they appear in the Security Register.

                           SECTION 3.02.     Offices for Notices and Payments,
                                             etc.

                           So long as any Debt Securities of any series remain
outstanding, the Company will maintain (or cause to be maintained) in New
York, New York an office or agency where the Debt Securities of such series may
be presented for payment, an office or agency where the Debt Securities of such
series may be presented for registration of transfer and for exchange as
provided in this Indenture and an office or agency where notices and demands to
or upon the Company in respect of the Debt Securities of such series or of this
Indenture may be served. The Company will give to the Debt Trustee written
notice of the location of any such office or agency and of any change of
location thereof. Until otherwise designated from time to time by the Company in
a notice to the Debt Trustee, any such office or agency for all of the above
purposes shall be the Principal Office of the Debt Trustee. In case the Company
shall fail to maintain any such office or agency in New York, New York, or shall
fail to give such notice of the location

         14
<PAGE>

or of any change in the location thereof, presentations and demands may be made
and notices may be served at the Principal Office of the Debt Trustee.

                           In addition to any such office or agency, the Company
may from time to time designate one or more offices or agencies outside New
York, New York, where the Debt Securities may be presented for payment,
registration of transfer and for exchange in the manner provided in this
Indenture, and the Company may from time to time rescind such designation, as
the Company may deem desirable or expedient; provided, however, that no such
designation or rescission shall in any manner relieve the Company of its
obligation to maintain any such office or agency in New York, New York, for the
purposes above mentioned. The Company will give to the Debt Trustee prompt
written notice of any such designation or rescission thereof.

                           SECTION 3.03.     Appointments to Fill Vacancies in
                                             Debt Trustee's Office.

                           The Company, whenever necessary to avoid or fill a
vacancy in the office of Debt Trustee, will appoint, in the manner provided in
Section 6.10, a Debt Trustee, so that there shall at all times be a Debt Trustee
hereunder.

                           SECTION 3.04.     Provision as to Paying Agent.

                           (a)      If the Company shall appoint a paying agent
                                    other than the Debt Trustee with respect to
                                    the Debt Securities of any series, it will
                                    cause such paying agent to execute and
                                    deliver to the Debt Trustee an instrument in
                                    which such agent shall agree with the Debt
                                    Trustee, subject to the provision of this
                                    Section 3.04,

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

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

                           (b)      If the Company shall act as its own paying
                                    agent, it will, on or before each due date
                                    of

         15
<PAGE>

                                    the principal of, premium, if any, or
                                    interest on the Debt Securities of any
                                    series, set aside, segregate and hold in
                                    trust for the benefit of the Holders a sum
                                    sufficient to pay such principal, premium or
                                    interest so becoming due and will notify the
                                    Debt Trustee of any failure to take such
                                    action and of any failure by the Company (or
                                    by any other obligor under the Debt
                                    Securities) to make any payment of the
                                    principal of, premium, if any, or interest
                                    on the Debt Securities of such series when
                                    the same shall become due and payable.

                           (c)      Anything in this Section 3.04 to the
                                    contrary notwithstanding, the Company may,
                                    at any time, for the purpose of obtaining a
                                    satisfaction and discharge with respect to
                                    the Debt Securities of any series hereunder,
                                    or for any other reason, pay or cause to be
                                    paid to the Debt Trustee all sums held in
                                    trust for such Debt Securities by the Debt
                                    Trustee or any paying agent hereunder, as
                                    required by this Section 3.04, such sums to
                                    be held by the Debt Trustee upon the trusts
                                    herein contained.

                           (d)      Anything in this Section 3.04 to the
                                    contrary notwithstanding, the agreement to
                                    hold sums in trust as provided in this
                                    Section 3.04 is subject to Sections 11.03
                                    and 11.04.

                           SECTION 3.05.     Certificate to Debt Trustee.

                           The Company will deliver to the Debt Trustee on or
before 120 days after the end of each fiscal year of the Company, so long as
Debt Securities of any series are outstanding hereunder, an Officer's
Certificate, one of the signers of which shall be the principal executive,
principal financial or principal accounting officer of the Company, stating that
in the course of the performance by the signers of their duties as officers of
the Company they would normally have knowledge of any default by the Company in
the performance of any covenants contained herein, stating whether or not they
have knowledge of any such default and, if so, specifying each such default of
which the signers have knowledge and the nature thereof. For purposes of this
Section 3.05, default shall be determined without regard to any period of grace
or requirement of notice provided for herein.

                           SECTION 3.06.     Payment Upon Resignation or
                                             Removal.

                           Upon termination of this Indenture or the removal or
resignation of the Debt Trustee, unless otherwise stated, the Company shall
pay to the Debt Trustee all amounts accrued and owing to the date of such
termination, removal or resignation.

         16
<PAGE>

                                   ARTICLE IV

                        HOLDERS' LISTS AND REPORTS BY THE
                          COMPANY AND THE DEBT TRUSTEE

                           SECTION 4.01.     Holders' Lists.

                           So long as Debt Securities of any series are
outstanding hereunder, the Company covenants and agrees that it will furnish or
cause to be furnished to the Debt Trustee:

                           (a)      on a semi-annual basis on each alternating
                                    regular record date for the Debt Securities
                                    of such series a list, in such form as the
                                    Debt Trustee may reasonably require, of the
                                    names and addresses of the Holders as of
                                    such record date; and

                           (b)      at such other times as the Debt Trustee may
                                    request in writing, within 30 days after the
                                    receipt by the Company of any such request,
                                    a list of similar form and content as of a
                                    date not more than 15 days prior to the time
                                    such list is furnished, except that no such
                                    lists need be furnished so long as the Debt
                                    Trustee is in possession thereof by reason
                                    of its acting as registrar for the Debt
                                    Securities.

                           SECTION 4.02.     Preservation and Disclosure of
                                             Lists.

                           (a)      The Debt Trustee shall preserve, in as
                                    current a form as is reasonably practicable,
                                    all information as to the names and
                                    addresses of the Holders (1) contained in
                                    the most recent list furnished to it as
                                    provided in Section 4.01 or (2) received by
                                    it in the capacity of registrar for the Debt
                                    Securities of such series (if so acting)
                                    hereunder. The Debt Trustee may destroy any
                                    list furnished to it as provided in Section
                                    4.01 upon receipt of a new list so
                                    furnished.

                           (b)      In case three or more Holders (hereinafter
                                    referred to as "applicants") apply in
                                    writing to the Debt Trustee and furnish to
                                    the Debt Trustee reasonable proof that each
                                    such applicant has owned a Debt Security for
                                    a period of at least six months preceding
                                    the date of such application, and such
                                    application states that the applicants
                                    desire to communicate with other Holders or
                                    with Holders of all Debt Securities of such
                                    series with respect to their rights under
                                    this Indenture and is accompanied by a copy
                                    of the form of proxy or other communication
                                    which such

         17
<PAGE>

                                    applicants propose to transmit, then the
                                    Debt Trustee shall within 5 Business Days
                                    after the receipt of such application, at
                                    its election, either:

                                             (1)      afford such applicants
                                                      access to the information
                                                      preserved at the time by
                                                      the Debt Trustee in
                                                      accordance with the
                                                      provisions of subsection
                                                      (a) of this Section 4.02,
                                                      or

                                             (2)      inform such applicants as
                                                      to the approximate number
                                                      of Holders of all Debt
                                                      Securities of such series,
                                                      whose names and addresses
                                                      appear in the information
                                                      preserved at the time by
                                                      the Debt Trustee in
                                                      accordance with the
                                                      provisions of subsection
                                                      (a) of this Section 4.02,
                                                      and as to the approximate
                                                      cost of mailing to such
                                                      Holders the form of proxy
                                                      or other communication, if
                                                      any, specified in such
                                                      application.

                                           If the Debt Trustee shall elect not
                                    to afford such applicants access to such
                                    information, the Debt Trustee shall, upon
                                    the written request of such applicants, mail
                                    to each Holder whose name and address appear
                                    in the information preserved at the time by
                                    the Debt Trustee in accordance with the
                                    provisions of subsection (a) of this Section
                                    4.02, a copy of the form of proxy or other
                                    communication which is specified in such
                                    request with reasonable promptness after a
                                    tender to the Debt Trustee of the material
                                    to be mailed and of payment, or provision
                                    for the payment, of the reasonable expenses
                                    of mailing, unless within five Business Days
                                    after such tender, the Debt Trustee shall
                                    mail to such applicants and file with the
                                    Commission, together with a copy of the
                                    material to be mailed, a written statement
                                    to the effect that, in the opinion of the
                                    Debt Trustee, such mailing would be contrary
                                    to the best interests of the Holders of such
                                    series of Debt Securities or all Debt
                                    Securities of such series, as the case may
                                    be, or would be in violation of applicable
                                    law. Such written statement shall specify
                                    the basis of such opinion. If the
                                    Commission, after opportunity for a hearing

         18
<PAGE>

                                    upon the objections specified in the written
                                    statement so filed, shall enter an order
                                    refusing to sustain any of such objections
                                    or if, after the entry of an order
                                    sustaining one or more of such objections,
                                    the Commission shall find, after notice and
                                    opportunity for hearing, that all the
                                    objections so sustained have been met and
                                    shall enter an order so declaring, the Debt
                                    Trustee shall mail copies of such material
                                    to all such Holders with reasonable
                                    promptness after the entry of such order and
                                    the renewal of such tender; otherwise the
                                    Debt Trustee shall be relieved of any
                                    obligation or duty to such applicants
                                    respecting their application.

                           (c)      Each and every Holder, by receiving and
                                    holding Debt Securities, agrees with the
                                    Company and the Debt Trustee that neither
                                    the Company nor the Debt Trustee nor any
                                    paying agent shall be held accountable by
                                    reason of the disclosure of any such
                                    information as to the names and addresses of
                                    the Holders in accordance with the
                                    provisions of subsection (b) of this Section
                                    4.02, regardless of the source from which
                                    such information was derived, and that the
                                    Debt Trustee shall not be held accountable
                                    by reason of mailing any material pursuant
                                    to a request made under said subsection (b).

                           SECTION 4.03.     Reports by the Company.

                           So long as Debt Securities of any series are
outstanding hereunder:

                           (a)      The Company covenants and agrees to file
                                    with the Debt Trustee, within 15 days after
                                    the date on which the Company is required to
                                    file the same with the Commission, copies of
                                    the annual reports and of the information,
                                    documents and other reports (or copies of
                                    such portions of any of the foregoing as
                                    said Commission may from time to time by
                                    rules and regulations prescribe) which the
                                    Company may be required to file with the
                                    Commission pursuant to Section 13 or Section
                                    15(d) of the Exchange Act; or, if the
                                    Company is not required to file information,
                                    documents or reports pursuant to either of
                                    such sections, then to provide to the Debt
                                    Trustee, such of the supplementary and
                                    periodic information, documents and reports
                                    which would have been required pursuant to
                                    Section 13 of the Exchange Act in respect of
                                    a security listed and registered on a
                                    national securities exchange as may be
                                    prescribed from time to time in such rules
                                    and regulations.

         19
<PAGE>

                           (b)      The Company covenants and agrees to file
                                    with the Debt Trustee and the Commission, in
                                    accordance with the rules and regulations
                                    prescribed from time to time by said
                                    Commission, unless exempted from such
                                    reporting requirements by the Commission
                                    such additional information, documents and
                                    reports with respect to compliance by the
                                    Company with the conditions and covenants
                                    provided for in this Indenture as may be
                                    required from time to time by such rules and
                                    regulations.

                           (c)      The Company covenants and agrees to transmit
                                    by mail to all Holders, as the names and
                                    addresses of such Holders appear upon the
                                    Security Register, within 30 days after the
                                    filing thereof with the Debt Trustee, such
                                    summaries of any information, documents and
                                    reports required to be filed by the Company
                                    pursuant to subsections (a) and (b) of this
                                    Section 4.03 as may be required by rules and
                                    regulations prescribed from time to time by
                                    the Commission.

                           (d)      Delivery of such reports, information and
                                    documents to the Debt Trustee is for
                                    informational purposes only and the Debt
                                    Trustee's receipt of such shall not
                                    constitute constructive notice of any
                                    information contained therein or
                                    determinable from information contained
                                    therein, including the Company's compliance
                                    with any of its covenants hereunder (as to
                                    which the Debt Trustee is entitled to rely
                                    exclusively on Officer's Certificates).

                           SECTION 4.04.     Reports by the Debt Trustee.

                           So long as Debt Securities of any series are
outstanding hereunder:

                           (a)      The Debt Trustee shall transmit to Holders
                                    such reports concerning the Debt Trustee and
                                    its actions under this Indenture as may be
                                    required pursuant to the Trust Indenture Act
                                    at the times and in the manner provided
                                    pursuant thereto. If required by Section
                                    313(a) of the Trust Indenture Act, the Debt
                                    Trustee shall, within sixty days after each
                                    December 31, commencing December 31, 2001,
                                    deliver to Holders a brief report, dated as
                                    of such December 31, which complies with the
                                    provisions of Section 313(a) of the Trust
                                    Indenture Act.

                           (b)      A copy of each such report shall, at the
                                    time of such transmission to Holders, be
                                    filed by the Debt Trustee with each stock
                                    exchange, if

         20
<PAGE>

                                    any, upon which the Debt Securities are
                                    listed, with the Commission and with the
                                    Company. The Company will promptly notify
                                    the Debt Trustee if and when the Debt
                                    Securities are listed on any stock exchange.

                                   ARTICLE V

                    REMEDIES OF THE DEBT TRUSTEE AND HOLDERS
                               ON EVENT OF DEFAULT

                           SECTION 5.01.     Events of Default.

                           One or more of the following events of default shall
constitute an Event of Default hereunder with respect to Debt Securities of a
particular series (whatever the reason for such Event of Default and whether it
shall be voluntary or involuntary or be effected by operation of law or pursuant
to any judgment, decree or order of any court or any order, rule or regulation
of any administrative or governmental body) unless it is either inapplicable to
a particular series or specifically deleted or modified in a supplemental
indenture (or Board Resolution) under which such series of Debt Securities is
issued or in the form of Debt Securities for such series:

                           (a)      default in the payment of any interest on
                                    the Debt Securities of that series or any
                                    Other Debt Securities when due, and
                                    continuance of such default for a period of
                                    30 days; provided, however, that a valid
                                    extension of an interest payment period by
                                    the Company in accordance with the terms
                                    hereof shall not constitute a default in the
                                    payment of interest for this purpose; or

                           (b)      default in the payment of any principal of
                                    or premium, if any, on the Debt Securities
                                    of that series or any Other Debt Securities
                                    when due whether at maturity, upon
                                    prepayment, by declaration of acceleration
                                    of maturity or otherwise; or

                           (c)      default in the performance, or breach, of
                                    any covenant or warranty of the Company with
                                    respect to that series contained in such
                                    Debt Securities or otherwise established
                                    with respect to that series of Debt
                                    Securities pursuant to Section 2.01 or
                                    contained in this Indenture (other than a
                                    covenant or warranty a default in whose
                                    performance or whose breach is elsewhere in
                                    this Section specifically dealt with and
                                    other than a covenant or warranty set forth
                                    in terms of any particular series of Debt
                                    Securities established or contemplated in
                                    this Indenture), and continuance of such
                                    default or breach for a period of 90 days
                                    after there has

         21
<PAGE>

                                    been given, by registered or certified mail,
                                    to the Company by the Debt Trustee or to the
                                    Company and the Debt Trustee by the Holders
                                    of at least 25% in aggregate principal
                                    amount of the outstanding Debt Securities a
                                    written notice specifying such default or
                                    breach and requiring it to be remedied and
                                    stating that such notice is a "Notice of
                                    Default" hereunder; or

                           (d)      a court having jurisdiction in the premises
                                    shall enter a decree or order for relief in
                                    respect of the Company in an involuntary
                                    case under any applicable bankruptcy,
                                    insolvency or other similar law now or
                                    hereafter in effect, or appointing a
                                    receiver, liquidator, assignee, custodian,
                                    trustee, sequestrator (or similar official)
                                    of the Company or for any substantial part
                                    of its property, or ordering the winding-up
                                    or liquidation of its affairs and such
                                    decree or order shall remain unstayed and in
                                    effect for a period of 90 consecutive days;
                                    or

                           (e)      the Company shall commence a voluntary case
                                    under any applicable bankruptcy, insolvency
                                    or other similar law now or hereafter in
                                    effect, shall consent to the entry of an
                                    order for relief in an involuntary case
                                    under any such law, or shall consent to the
                                    appointment of or taking possession by a
                                    receiver, liquidator, assignee, trustee,
                                    custodian, sequestrator (or other similar
                                    official) of the Company or of any
                                    substantial part of its property, or shall
                                    make any general assignment for the benefit
                                    of creditors, or shall fail generally to pay
                                    its debts as they become due.

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

                           The foregoing provisions, however, are subject to the
condition that if, at any time after the principal of the Debt Securities of
a series shall have been so declared due and payable, and before any judgment or
decree for the payment of the moneys due shall have been obtained or entered as
hereinafter provided, (i) the Company shall pay or shall deposit with the Debt
Trustee a sum sufficient to pay (A) all matured installments of interest upon
all the Debt Securities of that series and the principal of and premium, if any,
on

         22
<PAGE>

any and all Debt Securities of that series which shall have become due otherwise
than by acceleration (with interest upon such principal and premium, if any,
and, to the extent that payment of such interest is enforceable under applicable
law, on overdue installments of interest, at the same rate as the rate of
interest specified in the Debt Securities of such series to the date of such
payment or deposit) and (B) such amount as shall be sufficient to cover
compensation due to the Debt Trustee and each predecessor Debt Trustee, their
respective agents, attorneys and counsel, pursuant to Section 6.06, and (ii) any
and all Events of Default under this Indenture, other than the non-payment of
the principal of the Debt Securities of such series which shall have become due
solely by such declaration of acceleration, shall have been cured, waived or
otherwise remedied as provided herein, then, in every such case, the Holders of
a majority in aggregate principal amount of the Debt Securities of that series
then outstanding, by written notice to the Company and to the Debt Trustee, may
rescind and annul such declaration and its consequences, but no such waiver or
rescission and annulment shall extend to or shall affect any subsequent default
or shall impair any right consequent thereon.

                           In case the Debt Trustee shall have proceeded to
enforce any right under this Indenture and such proceedings shall have been
discontinued or abandoned because of such rescission or annulment or for any
other reason or shall have been determined adversely to the Debt Trustee, then
and in every such case the Company, the Debt Trustee and the Holders shall be
restored respectively to their several positions and rights hereunder, and all
rights, remedies and powers of the Company, the Debt Trustee and the Holders
shall continue as though no such proceeding had been taken.

                           SECTION 5.02.     Payment of Debt Securities on
                                             Default; Suit Therefor.

                           The Company covenants that (a) in case default shall
be made in the payment of any installment of interest upon any of the Debt
Securities of a series as and when the same shall become due and payable, and
such default shall have continued for a period of 30 days, or (b) in case
default shall be made in the payment of the principal of or premium, if any, on
any of the Debt Securities of a series as and when the same shall have become
due and payable, whether at maturity of the Debt Securities of such series or
upon prepayment or by declaration or otherwise, then, upon demand of the Debt
Trustee, the Company will pay to the Debt Trustee, for the benefit of the
Holders, the whole amount that then shall have become due and payable on all
such Debt Securities of such series for principal of, premium, if any, or
interest or both, as the case may be, with interest upon the overdue principal
and premium, if any, and (to the extent that payment of such interest is
enforceable under applicable law and, if the Debt Securities of such series are
held by the Trust or a trustee of such trust, without duplication of any other
amounts paid by the Trust or a trustee in respect thereof) upon the overdue
installments of interest at the rate borne by the Debt Securities of such
series; and, in addition thereto, such further amount as shall be sufficient to
cover the costs and expenses of collection, including a reasonable compensation
to the Debt Trustee, its agents, attorneys and counsel, and any other amount due
to the Debt Trustee pursuant to Section 6.06.

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<PAGE>

                           In case the Company shall fail forthwith to pay such
amounts upon such demand, the Debt Trustee, in its own name and as trustee of
an express trust, shall be entitled and empowered to institute any actions or
proceedings at law or in equity for the collection of the sums so due and
unpaid, and may prosecute any such action or proceeding to judgment or final
decree, and may enforce any such judgment or final decree against the Company or
any other obligor on the Debt Securities of such series and collect in the
manner provided by law out of the property of the Company or any other obligor
on the Debt Securities of such series, wherever situated, the moneys adjudged or
decreed to be payable.

                           In case there shall be pending proceedings for the
bankruptcy or for the reorganization of the Company or any other obligor on the
Debt Securities of any series under Title 11, United States Code, or any other
applicable law, or in case a receiver or trustee shall have been appointed for
the property of the Company or such other obligor, or in the case of any other
similar judicial proceedings relative to the Company or other obligor upon the
Debt Securities of such series, or to the creditors or property of the Company
or such other obligor, the Debt Trustee, irrespective of whether the principal
of the Debt Securities of a series shall then be due and payable as therein
expressed or by declaration or otherwise and irrespective of whether the Debt
Trustee shall have made any demand pursuant to the provisions of this Section
5.02, shall be entitled and empowered, by intervention in such proceedings or
otherwise, to file and prove a claim or claims for the whole amount of principal
and interest owing and unpaid in respect of the Debt Securities of such series
and, in case of any judicial proceedings, 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 Debt Trustee (including any claim for amounts due to the Debt Trustee
pursuant to 6.06) and of the Holders allowed in such judicial proceedings
relative to the Company or any other obligor on the Debt Securities, or to the
creditors or property of the Company or such other obligor, unless prohibited by
applicable law and regulations, to vote on behalf of the Holders in any election
of a trustee or a standby trustee in arrangement, reorganization, liquidation or
other bankruptcy or insolvency proceedings or person performing similar
functions in comparable proceedings, and to collect and receive any moneys or
other property payable or deliverable on any such claims, and to distribute the
same after the deduction of its charges and expenses; and any receiver, assignee
or trustee in bankruptcy or reorganization is hereby authorized by each of the
Holders to make such payments to the Debt Trustee, and, in the event that the
Debt Trustee shall consent to the making of such payments directly to the
Holders, to pay to the Debt Trustee such amounts as shall be sufficient to cover
reasonable compensation to the Debt Trustee, each predecessor Debt Trustee and
their respective agents, attorneys and counsel, and all other amounts due to the
Debt Trustee pursuant to Section 6.06.

                           Nothing herein contained shall be construed to
authorize the Debt 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 Debt Securities of any series or the rights of any
Holder or to authorize the Debt Trustee to vote in respect of the claim of any
Holder in any such proceeding.

         24
<PAGE>

                           All rights of action and of asserting claims under
this Indenture, or under any of the Debt Securities of any series, may be
prosecuted and enforced by the Debt Trustee without the possession of any of the
Debt Securities of such series, or the production thereof on any trial or other
proceeding relative thereto, and any such suit or proceeding instituted by the
Debt Trustee shall be brought in its own name as trustee of an express trust,
and any recovery of judgment shall be for the ratable benefit of the Holders of
the Debt Securities of such series.

                           In any proceedings brought by the Debt Trustee (and
also any proceedings involving the interpretation of any provision of this
Indenture to which the Debt Trustee shall be a party) the Debt Trustee shall be
held to represent all the Holders, and it shall not be necessary to make any
Holders parties to any such proceedings.

                           SECTION 5.03.     Application of Moneys Collected by
                                             Debt Trustee.

                           Any moneys collected by the Debt Trustee shall be
applied in the following order, at the date or dates fixed by the Debt Trustee
for the distribution of such moneys, upon presentation of the Debt Securities of
the series in respect of which moneys have been collected, and stamping thereon
the payment, if only partially paid, and upon surrender thereof if fully paid:

                           First: To the payment of costs and expenses of
collection applicable to the Debt Securities of such series and all other
amounts due to the Debt Trustee under Section 6.06;

                           Second: To the payment of all Senior Indebtedness of
the Company if and to the extent required by Article XV;

                           Third: In case the principal of the outstanding Debt
Securities of such series in respect of which moneys have been collected shall
not have become due and be unpaid, to the payment of the amounts then due and
unpaid upon Debt Securities of such series for principal of, premium, if any,
and interest on the Debt Securities of such series, in respect of which or for
the benefit of which money has been collected, ratably, without preference of
priority of any kind, according to the amounts due on the Debt Securities of
such series for principal, premium, if any, and interest, respectively; and

                           Fourth: To the Person or Persons entitled thereto.

                           SECTION 5.04.     Proceedings by Holders.

                           No Holder of Debt Securities of any series shall have
any right by virtue of or by availing of any provision of this Indenture to
institute any suit, action or proceeding in equity or at law upon or under or
with respect to this Indenture or for the appointment of a receiver or trustee,
or for any other remedy hereunder, unless (i) such Holder previously shall have
given to the Debt Trustee written notice of an Event of Default and of the
continuance thereof with respect to the Debt Securities of such series
specifying such Event of Default, as hereinbefore provided, (ii) the

         25
<PAGE>

Holders of not less than 25% in aggregate principal amount of the Debt
Securities of such series then outstanding shall have made written request upon
the Debt Trustee to institute such action, suit or proceeding in its own name as
Debt Trustee hereunder and shall have offered to the Debt Trustee such
reasonable indemnity as it may require against the costs, expenses and
liabilities to be incurred therein or thereby, (iii) the Debt Trustee for 60
days after its receipt of such notice, request and offer of indemnity shall have
failed to institute any such action, suit or proceeding, and (iv) no direction
inconsistent with such written request has been given to the Debt Trustee during
such 60-day period by the Holders of a majority in principal amount of the
outstanding Debt Securities of such series, it being understood and intended,
and being expressly covenanted by the taker and Holder of every Debt Security of
such series with every other taker and Holder and the Debt Trustee, that no one
or more Holders shall have any right in any manner whatever by virtue of or by
availing of any provision of this Indenture to affect, disturb or prejudice the
rights of any other Holder, or to obtain or seek to obtain priority over or
preference to any other such Holder, or to enforce any right under this
Indenture, except in the manner herein provided and for the equal, ratable and
common benefit of all Holders.

                           Notwithstanding any other provisions in this
Indenture, however, the right of any Holder to receive payment of the principal
of, premium, if any, and interest on such Debt Security of such series, on or
after the same shall have become due and payable, or to institute suit for the
enforcement of any such payment, shall not be impaired or affected without the
consent of such Holder.

                           SECTION 5.05.     Proceedings by Debt Trustee.

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

                           SECTION 5.06.     Trustee May File Proofs of Claim.

                           In case of the pendency of any receivership,
insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceeding relative to the Company or any other
obligor upon the Debt Securities of any series or the property of the Company or
of such other obligor or their creditors, the Debt Trustee (irrespective of
whether the principal of any such Debt Securities shall then be due and payable
as therein expressed or by declaration or otherwise and irrespective of whether
the Debt Trustee shall have made any demand on the Company for the payment of
overdue principal, premium, if any, or interest) shall be entitled and
empowered, by intervention in such proceeding or otherwise,

         26
<PAGE>

                                    (i)      to file and prove a claim for the
         whole amount of principal, premium, if any, and interest owing and
         unpaid in respect of such Debt Securities and to file such other papers
         or documents as may be necessary or advisable in order to have the
         claims of the Debt Trustee (including any claim for the reasonable
         compensation, expenses, disbursements and advances of the Debt Trustee,
         its agents and counsel and any other amounts due the Debt Trustee under
         Section 6.06) and of the Holders allowed in such judicial proceeding,
         and

                                    (ii)     to collect and receive any moneys
         or other property payable or deliverable on any such claims and to
         distribute the same, and any receiver, assignee, trustee, liquidator,
         sequestrator or other similar official in any such judicial proceeding
         is hereby authorized by each Holder to make such payments to the Debt
         Trustee, and in the event that the Debt Trustee shall consent to the
         making of such payments directly to the Holders of such Debt
         Securities, to pay to the Debt Trustee any amount due to it for the
         reasonable compensation, expenses, disbursements and advances of the
         Debt Trustee, its agents and counsel, and any other amounts due the
         Debt Trustee under Section 6.06.

                           Nothing herein contained shall be deemed to authorize
the Debt 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 Debt Securities of any series or the rights of any Holder thereof,
or to authorize the Debt Trustee to vote in respect of the claim of any Holder
in any such proceeding.

                           SECTION 5.07.     Remedies Cumulative and Continuing.

                           All powers and remedies given by this Article V to
the Debt Trustee or to the Holders shall, to the extent permitted by law, be
deemed cumulative and not exclusive of any other powers and remedies available
to the Debt Trustee or the Holders, by judicial proceedings or otherwise, to
enforce the performance or observance of the covenants and agreements contained
in this Indenture or otherwise established with respect to the Debt Securities
of any series, and no delay or omission of the Debt Trustee or of any Holder to
exercise any right or power accruing upon any Event of Default occurring and
continuing as aforesaid shall impair any such right or power, or shall be
construed to be a waiver of any such default or an acquiescence therein; and,
subject to the provisions of Section 5.04, every power and remedy given by this
Article V or by law to the Debt Trustee or to the Holders may be exercised from
time to time, and as often as shall be deemed expedient, by the Debt Trustee or
by the Holders.

                           SECTION 5.08.     Direction of Proceedings and Waiver
                                             of Defaults by Majority of Holders.

                           Subject to the provisions of any supplemental
indenture hereto, the Holders of a majority in aggregate principal amount of the
Debt Securities of any series at the time outstanding

         27
<PAGE>

shall have the right to direct the time, method, and place of conducting any
proceeding for any remedy available to the Debt Trustee, or exercising any trust
or power conferred on the Debt Trustee; provided, however, that (subject to the
provisions of Section 6.01) the Debt Trustee shall have the right to decline to
follow any such direction if the Debt Trustee shall determine that the action so
directed would be unjustly prejudicial to the Holders of Debt Securities of such
series not taking part in such direction or if the Debt Trustee being advised by
counsel determines that the action or proceeding so directed may not lawfully be
taken or if the Debt Trustee in good faith by its board of directors or
trustees, executive committee, or a trust committee of directors or trustees
and/or Responsible Officers shall determine that the action or proceedings so
directed would involve the Debt Trustee in personal liability. Prior to any
declaration accelerating the maturity of the Debt Securities of any series, the
Holders of a majority in aggregate principal amount of the Debt Securities of
such series at the time outstanding may on behalf of the Holders of all of the
Debt Securities of such series waive any past default or Event of Default and
its consequences except a default (a) in the payment of principal of, premium,
if any, or interest on any of the Debt Securities of such series (unless such
default has been cured and a sum sufficient to pay all matured installments of
principal, premium, if any, and interest due otherwise than by acceleration has
been deposited with the Debt Trustee) or (b) in respect of covenants or
provisions hereof which cannot be modified or amended without the consent of the
Holder of each Debt Security affected. Upon any such waiver, the default covered
thereby shall be deemed to be cured for all purposes of this Indenture and the
Company, the Debt Trustee and the Holders of Debt Securities of such series
shall be restored to their former positions and rights hereunder, respectively;
but no such waiver shall extend to any subsequent or other default or impair any
right consequent thereon. Whenever any default or Event of Default hereunder
shall have been waived as permitted by this Section 5.08, said default or Event
of Default shall for all purposes of such series of Debt Securities and this
Indenture be deemed to have been cured and to be not continuing.

                           SECTION 5.09.     Notice of Defaults.

                           (a)      The Debt Trustee, within 90 days after the
occurrence of a Default with respect to a series of Debt Securities known to the
Debt Trustee, shall mail to all Holders, as the names and addresses of such
Holders appear upon the Security Register, notice of all Defaults known to the
Debt Trustee, unless such Default shall have been cured before the giving of
such notice (the term "Default" for the purpose of this Section 5.09 being
hereby defined to be any of the events specified in clauses (a), (b), (c), (d)
and (e) of Section 5.01, not including periods of grace, if any, provided for
therein, and irrespective of the giving of written notice specified in clause
(c) of Section 5.01); and provided that, except in the case of default in the
payment of the principal of, premium, if any, or interest on any series of Debt
Securities, the Debt Trustee shall be protected in withholding such notice if
and so long as the board of directors, the executive committee, or a trust
committee of directors and/or Responsible Officers of the Debt Trustee in good
faith determines that the withholding of such notice is in the interests of the
Holders thereof; and provided further, that in the case of any default of the
character

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<PAGE>

specified in Section 5.01(c), no such notice to Holders shall be given until at
least 30 days after the occurrence thereof.

                           (b)      Within five Business Days after the
occurrence of any Event of Default known to the Debt Trustee, the Debt Trustee
shall transmit notice of such Event of Default to all Holders of the affected
series of Debt Securities as their names and addresses appear on the Security
Register, unless such Event of Default shall have been cured or waived.

                           SECTION 5.10.     Undertaking to Pay Costs.

                           All parties to this Indenture agree, and each Holder
by his or her acceptance thereof shall be deemed to have agreed, that any
court may in its discretion require, in any suit for the enforcement of any
right or remedy under this Indenture, or in any suit against the Debt Trustee
for any action taken or omitted by it as Debt Trustee, the filing by any party
litigant in such suit of an undertaking to pay the costs of such suit, and that
such court may in its discretion assess reasonable costs, including reasonable
attorneys' fees and expenses, against any party litigant in such suit, having
due regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this Section 5.10 shall not apply to any
suit instituted by the Debt Trustee, to any suit instituted by any Holder, or
group of Holders, holding in the aggregate more than 10% in aggregate principal
amount of any series of Debt Securities outstanding, or to any suit instituted
by any Holder for the enforcement of the payment of the principal of, premium,
if any, or interest on any such Debt Security against the Company on or after
the same shall have become due and payable.

                                   ARTICLE VI

                           CONCERNING THE DEBT TRUSTEE

                           SECTION 6.01.     Duties and Responsibilities of Debt
                                             Trustee.

                           With respect to the Holders of Debt Securities of any
series issued hereunder, the Debt Trustee, prior to the occurrence of an
Event of Default with respect to such series and after the curing or waiving of
all Events of Default with respect to such series which may have occurred,
undertakes to perform such duties and only such duties as are specifically set
forth in this Indenture. In case any such Event of Default has occurred (which
has not been cured or waived), the Debt Trustee shall exercise such of the
rights and powers vested in it by this Indenture, and use the same degree of
care and skill in their exercise, as a prudent person would exercise or use
under the circumstances in the conduct of his or her own affairs.

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

                           (a)      prior to the occurrence of an Event of
                                    Default

                                       29
<PAGE>

                                    with respect to any series of Debt
                                    Securities and after the curing or waiving
                                    of all Events of Default with respect to
                                    such series which may have occurred,

                                    (1)      the duties and obligations of the
                                             Debt Trustee shall be determined
                                             solely by the express provisions of
                                             this Indenture, and the Debt
                                             Trustee shall not be liable except
                                             for the performance of such duties
                                             and obligations as are specifically
                                             set forth in this Indenture; and

                           (2)      in the absence of bad faith on the part of
                                    the Debt Trustee, the Debt Trustee may
                                    conclusively rely, as to the truth of the
                                    statements and the correctness of the
                                    opinions certificates or opinions furnished
                                    to the Debt Trustee and conforming to the
                                    requirements of this Indenture; but, in the
                                    case of any such certificates or opinions
                                    which by any provision hereof are
                                    specifically required to be furnished to the
                                    Debt Trustee, the Debt Trustee shall be
                                    under a duty to examine the same to
                                    determine whether or not they conform to the
                                    requirements of this Indenture;

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

                           (c)      the Debt Trustee shall not be liable with
                                    respect to any action taken or omitted to be
                                    taken by it in good faith in accordance with
                                    the direction of the Holders pursuant to
                                    Section 5.08, relating to the time, method
                                    and place of conducting any proceeding for
                                    any remedy available to the Debt Trustee, or
                                    exercising any trust or power conferred upon
                                    the Debt Trustee, under this Indenture.

                           None of the provisions contained in this Indenture
shall require the Debt Trustee to expend or risk its own funds or otherwise
incur personal financial liability in the performance of any of its duties or in
the exercise of any of its rights or powers, if there is reasonable ground for
believing that the repayment of such funds or liability is not reasonably
assured to it under the terms of this Indenture or adequate indemnity against
such risk is not reasonably assured to it.

         30
<PAGE>
                           SECTION 6.02.     Reliance on Documents, Opinions,
                                             etc. Except as otherwise provided
                                             in Section 6.01:

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

                           (b)      any request, direction, order or demand of
                                    the Company mentioned herein may be
                                    sufficiently evidenced by an Officer's
                                    Certificate (unless other evidence in
                                    respect thereof be herein specifically
                                    prescribed); and any Board Resolution may be
                                    evidenced to the Debt Trustee by a copy
                                    thereof certified by the Secretary or an
                                    Assistant Secretary of the Company;

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

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

                           (e)      the Debt Trustee shall not be liable for any
                                    action taken or omitted by it in good faith
                                    and believed by it to be authorized or
                                    within the discretion or rights or powers
                                    conferred upon it by this Indenture; nothing
                                    contained herein shall, however, relieve the
                                    Debt Trustee of the obligation, upon the
                                    occurrence of an Event of Default (that has
                                    not been cured or waived), to exercise such
                                    of the rights and powers vested in it by
                                    this Indenture, and to use the same degree
                                    of care and skill in their exercise, as a
                                    prudent person would exercise or use under
                                    the circumstances in the conduct of his or
                                    her own affairs;

         31
<PAGE>

                           (f)      the Debt Trustee shall not be bound to make
                                    any investigation into the facts or matters
                                    stated in any resolution, certificate,
                                    statement, instrument, opinion, report,
                                    notice, request, consent, order, approval,
                                    bond, debenture, coupon or other paper or
                                    document, unless requested in writing to do
                                    so by the Holders of a majority in aggregate
                                    principal amount of any outstanding series
                                    of Debt Securities; provided, however, that
                                    if the payment within a reasonable time to
                                    the Debt Trustee of the costs, expenses or
                                    liabilities likely to be incurred by it in
                                    the making of such investigation is, in the
                                    opinion of the Debt Trustee, not reasonably
                                    assured to the Debt Trustee by the security
                                    afforded to it by the terms of this
                                    Indenture, the Debt Trustee may require
                                    reasonable indemnity against such expense or
                                    liability as a condition to so proceeding;

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

                           (h)      the Debt Trustee shall not be charged with
                                    knowledge of any Default or Event of Default
                                    with respect to a series of Debt Securities
                                    unless (1) such default is a default under
                                    Sections 5.01(a) and 5.01(b) of this
                                    Indenture, (2) a Responsible Officer shall
                                    have actual knowledge of such Default or
                                    Event of Default or (3) written notice of
                                    such Default or Event of Default shall have
                                    been given to the Debt Trustee by the
                                    Company or any other obligor on the Debt
                                    Securities or by any Holder; and

                           (i)      the Debt Trustee shall not be liable for any
                                    action taken, suffered or omitted by it in
                                    good faith, without negligence or wilful
                                    misconduct and believed by it to be
                                    authorized or within the discretion or
                                    rights or powers conferred upon it by this
                                    Indenture.

                           SECTION 6.03.     No Responsibility for Recitals,
                                             etc.

                           The recitals contained herein and in any series of
Debt Securities (except in the certificate of authentication of the Debt Trustee
or the Authenticating Agent) shall be taken as the statements of the Company,
and the Debt Trustee and the Authenticating

         32
<PAGE>

Agent assume no responsibility for the correctness of the same. The Debt Trustee
and the Authenticating Agent make no representations as to the validity or
sufficiency of this Indenture or of any series of Debt Securities. The Debt
Trustee and the Authenticating Agent shall not be accountable for the use or
application by the Company of any Debt Securities or the proceeds of any Debt
Securities authenticated and delivered by the Debt Trustee or the Authenticating
Agent in conformity with the provisions of this Indenture.

                           SECTION 6.04.     Debt Trustee, Authenticating Agent,
                                             Paying Agents, Transfer Agents or
                                             Registrar May Own Debt Securities.

                           The Debt Trustee or any Authenticating Agent or any
paying agent or any transfer agent or any registrar for any series of Debt
Securities, in its individual or any other capacity, may become the owner or
pledgee of such Debt Securities with the same rights it would have if it were
not Debt Trustee, Authenticating Agent, paying agent, transfer agent or
registrar for any such Debt Securities.

                           SECTION 6.05.     Moneys to be Held in Trust.

                           Subject to the provisions of Section 11.04, all
moneys received by the Debt Trustee or any paying agent with respect to any
series of Debt Securities shall, until used or applied as herein provided, be
held in trust for the purpose for which they were received, but need not be
segregated from other funds except to the extent required by law. The Debt
Trustee and any paying agent with respect to any series of Debt Securities shall
be under no liability with respect to any series of Debt Securities for interest
on any money received by it hereunder except as otherwise agreed in writing with
the Company. So long as no Event of Default with respect to any series of Debt
Securities shall have occurred and be continuing, all interest allowed on any
such moneys relating to such series of Debt Securities shall be paid from time
to time upon the written order of the Company, signed by the Chairman of the
Board of Directors, the President or a Vice President or the Treasurer or an
Assistant Treasurer of the Company.

                           SECTION 6.06.     Compensation and Expenses of Debt
                                             Trustee.

                           The Company, as issuer of Debt Securities under this
Indenture, covenants and agrees to pay to the Debt Trustee from time to time,
and the Debt Trustee shall be entitled to, such compensation as shall be agreed
to in writing between the Company and the Debt Trustee (which shall not be
limited by any provision of law in regard to the compensation of a trustee of an
express trust), and the Company will pay or reimburse the Debt Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or made
by the Debt Trustee in accordance with any of the provisions of this Indenture
(including the reasonable compensation and the expenses and disbursements of its
counsel and of all persons not regularly in its employ) except any such expense,
disbursement or advance as may arise from its negligence or bad faith. The
Company also covenants to indemnify each of the Debt Trustee or any predecessor
Debt Trustee (and

         33
<PAGE>

its officers, agents, directors and employees) for, and to hold it harmless
against, any and all loss, damage, claim, liability or expense including taxes
(other than taxes based on the income of the Debt Trustee) incurred without
negligence or bad faith on the part of the Debt Trustee and arising out of or in
connection with the acceptance or administration of this trust, including the
costs and expenses of defending itself against any claim of liability in the
premises. The obligations of the Company under this Section 6.06 to compensate
and indemnify the Debt Trustee and to pay or reimburse the Debt Trustee for
expenses, disbursements and advances shall constitute additional indebtedness
hereunder. Such additional indebtedness shall be secured by a lien prior to that
of the Debt Securities of any series upon all property and funds held or
collected by the Debt Trustee as such, except funds held in trust for the
benefit of the Holders of particular Debt Securities of any series.

                           When the Debt Trustee incurs expenses or renders
services in connection with an Event of Default specified in Section 5.01(d) or
Section 5.01(e), the expenses (including the reasonable charges and expenses of
its counsel) and the compensation for the services are intended to constitute
expenses of administration under any applicable Federal or State bankruptcy,
insolvency or other similar law.

                           The provisions of this Section shall survive the
resignation or removal of the Debt Trustee and the defeasance or other
termination of this Indenture.

                           SECTION 6.07.     Officer's Certificate and Opinion
                                             of Counsel as Evidence.

                           Upon any application or request by the Company to the
Debt Trustee to take any action under any provision of this Indenture, the
Company shall furnish to the Debt Trustee an Officer's Certificate stating that
all conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with and an Opinion of Counsel stating that
in the opinion of such counsel all such conditions precedent, if any, have been
complied with, except that in the case of any such application or request as to
which the furnishing of such documents is specifically required by any provision
of this Indenture relating to such particular application or request, no
additional certificate or opinion need by furnished.

                           Every certificate or opinion with respect to
compliance with a condition or covenant provided for in this Indenture (other
than the Officer's Certificate required by Section 3.05) shall include:

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

                                    (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;

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<PAGE>

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

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

                           SECTION 6.08.     Conflicting Interest of Debt
                                             Trustee.

                           If the Debt Trustee has or shall acquire any
"conflicting interest" within the meaning of Section 310(b) of the Trust
Indenture Act, the Debt Trustee and the Company shall in all respects comply
with the provisions of Section 310(b) of the Trust Indenture Act.

                           SECTION 6.09.     Eligibility of Debt Trustee.

                           The Debt Trustee hereunder shall at all times be a
corporation organized and doing business under the laws of the United States of
America or any State or territory thereof or of the District of Columbia, or a
corporation or other Person permitted to act as trustee by the Commission
authorized under such laws to exercise corporate trust powers, having a combined
capital and surplus of at least 50 million U.S. dollars ($50,000,000) and
subject to supervision or examination by Federal, State, territorial, or
District of Columbia authority. If such corporation publishes reports of
condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purposes of this
Section 6.09, the combined capital and surplus of such corporation shall be
deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published.

                           The Company may not, nor may any Person directly or
indirectly controlling, controlled by, or under common control with the
Company, serve as Debt Trustee.

                           In case at any time the Debt Trustee shall cease to
be eligible in accordance with the provisions of this Section 6.09, the Debt
Trustee shall resign immediately in the manner and with the effect specified in
Section 6.10.

                           SECTION 6.10.     Resignation or Removal of Debt
                                             Trustee.

                           (a)      The Debt Trustee, or any trustee or trustees
                                    hereafter appointed, may at any time resign
                                    with respect to one or more or all series of
                                    Debt Securities by giving written notice of
                                    such resignation to the Company and by
                                    mailing notice thereof to the Holders of the
                                    affected series of Debt Securities at their
                                    addresses as they shall appear on the
                                    Security Register.

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<PAGE>

                                    Upon receiving such notice of resignation,
                                    the Company shall promptly appoint a
                                    successor trustee or trustees with respect
                                    to the applicable series by written
                                    instrument, in duplicate, one copy of which
                                    instrument shall be delivered to the
                                    resigning Debt Trustee and one copy to the
                                    successor trustee. If no successor trustee
                                    shall have been so appointed and shall have
                                    accepted such appointment within 60 days
                                    after the mailing of such notice of
                                    resignation to the affected Holders, the
                                    resigning Debt Trustee may petition any
                                    court of competent jurisdiction for the
                                    appointment of a successor trustee, or any
                                    Holder who has been a bona fide holder of a
                                    Debt Security of any affected series for at
                                    least six months may, subject to the
                                    provisions of Section 5.10, on behalf of
                                    himself and all others similarly situated,
                                    petition any such court for the appointment
                                    of a successor trustee. Such court may
                                    thereupon, after such notice, if any, as it
                                    may deem proper and prescribe, appoint a
                                    successor trustee.

                           (b)      In case at any time any of the following
                                    shall occur:

                                    (1)      the Debt Trustee shall fail to
                                             comply with the provisions of
                                             Section 6.08 after written request
                                             therefor by the Company or by any
                                             Holder who has been a bona fide
                                             holder of a Debt Security of any
                                             affected series for at least six
                                             months, or

                                    (2)      the Debt Trustee shall cease to be
                                             eligible in accordance with the
                                             provisions of Section 6.09 and
                                             shall fail to resign after written
                                             request therefor by the Company or
                                             by any such Holder, or

                                    (3)      the Debt Trustee shall become
                                             incapable of acting, or shall be
                                             adjudged a bankrupt or insolvent,
                                             or a receiver of the Debt Trustee
                                             or of its property shall be
                                             appointed, or any public officer
                                             shall take charge or control of the
                                             Debt Trustee or of its property or
                                             affairs for the purpose of
                                             rehabilitation, conservation or
                                             liquidation, then, in any such
                                             case, the Company may remove the
                                             Debt Trustee and appoint a

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<PAGE>

                                             successor trustee by written
                                             instrument, in duplicate, one copy
                                             of which instrument shall be
                                             delivered to the Debt Trustee so
                                             removed and one copy to the
                                             successor trustee, or, subject to
                                             the provisions of Section 5.10, any
                                             Holder who has been a bona fide
                                             holder of a Debt Security of any
                                             affected series for at least six
                                             months may, on behalf of himself
                                             and all others similarly situated,
                                             petition any court of competent
                                             jurisdiction for the removal of the
                                             Debt Trustee and the appointment of
                                             a successor trustee. Such court may
                                             thereupon, after such notice, if
                                             any, as it may deem proper and
                                             prescribe, remove the Debt Trustee
                                             and appoint a successor trustee.

                           (c)      The Holders of a majority in aggregate
                                    principal amount of the Debt Securities of
                                    any series at the time outstanding may at
                                    any time remove the Debt Trustee with
                                    respect to that series and nominate a
                                    successor trustee, which shall be deemed
                                    appointed as successor trustee unless within
                                    10 days after such nomination the Company
                                    objects thereto, or if no successor trustee
                                    shall have been so appointed and shall have
                                    accepted appointment within 30 days after
                                    such removal, in which case the Debt Trustee
                                    so removed or any Holder of a Debt Security
                                    of such series, upon the terms and
                                    conditions and otherwise as in subsection
                                    (a) of this Section 6.10 provided, may
                                    petition any court of competent jurisdiction
                                    for an appointment of a successor trustee.

                           (d)      Any resignation or removal of the Debt
                                    Trustee and appointment of a successor
                                    trustee pursuant to any of the provisions of
                                    this Section 6.10 shall become effective
                                    only upon the acceptance of such appointment
                                    by the successor trustee as provided in
                                    Section 6.11.

                           SECTION 6.11.     Acceptance by Successor Debt
                                             Trustee.

                           Any successor trustee appointed as provided in
Section 6.10 shall execute, acknowledge and deliver to the Company and to its
predecessor trustee an instrument accepting such appointment hereunder, and
thereupon the resignation or removal of the retiring trustee shall become
effective and such successor trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, duties and
obligations of its predecessor hereunder,

         37
<PAGE>

with like effect as if originally named as trustee herein; but, nevertheless, on
the written request of the Company or of the successor trustee, the trustee
ceasing to act shall, upon payment of any amounts then due it pursuant to the
provisions of Section 6.06, execute and deliver an instrument transferring to
such successor trustee all the rights and powers of the trustee so ceasing to
act and shall duly assign, transfer and deliver to such successor trustee all
property and money held by such retiring trustee thereunder. Upon request of any
such successor trustee, the Company shall execute any and all instruments in
writing for more fully and certainly vesting in and confirming to such successor
trustee all such rights and powers. Any trustee ceasing to act shall,
nevertheless, retain a lien upon all property or funds held or collected by such
trustee to secure any amounts then due it pursuant to the provisions of Section
6.06.

                           No successor trustee shall accept appointment as
provided in this Section 6.11 unless at the time of such acceptance such
successor trustee shall be qualified under the provisions of Section 6.08 and
eligible under the provisions of Section 6.09.

                           Upon acceptance of appointment by a successor trustee
as provided in this Section 6.11, the Company shall mail notice of the
succession of such trustee hereunder to the Holders of the affected series of
Debt Securities at their addresses as they shall appear on the Security
Register. If the Company fails to mail such notice within 10 days after the
acceptance of appointment by the successor trustee, the successor trustee shall
cause such notice to be mailed at the expense of the Company.

                           SECTION 6.12.     Succession by Merger, etc.

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

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

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<PAGE>

                           SECTION 6.13.     Limitation on Rights of Debt
                                             Trustee as a Creditor.

                           The Debt Trustee shall comply with Section 311(a) of
the Trust Indenture Act, excluding any creditor relationship described in
Section 311(b) of the Trust Indenture Act. A Debt Trustee who has resigned or
been removed shall be subject to Section 311(a) of the Trust Indenture Act to
the extent required thereby.

                           SECTION 6.14.     Authenticating Agents.

                           There may be one or more Authenticating Agents with
respect to a series of Debt Securities appointed by the Debt Trustee upon the
request of the Company with power to act on its behalf and subject to its
direction in the authentication and delivery of Debt Securities of any such
series issued upon exchange or transfer thereof as fully to all intents and
purposes as though any such Authenticating Agent had been expressly authorized
to authenticate and deliver such Debt Securities; provided, that the Debt
Trustee shall have no liability to the Company for any acts or omissions of the
Authenticating Agent with respect to the authentication and delivery of Debt
Securities of any such series. Any such Authenticating Agent shall at all times
be a corporation organized and doing business under the laws of the United
States or of any State or territory thereof or of the District of Columbia
authorized under such laws to act as Authenticating Agent, having a combined
capital and surplus of at least $50,000,000 and being subject to supervision or
examination by Federal, State, territorial or District of Columbia authority. If
such corporation publishes reports of condition at least annually pursuant to
law or the requirements of such authority, then for the purposes of this Section
6.14 the combined capital and surplus of such corporation shall be deemed to be
its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time an Authenticating Agent shall cease to be
eligible in accordance with the provisions of this Section, it shall resign
immediately in the manner and with the effect herein specified in this Section.

                           Any corporation into which any Authenticating Agent
may be merged or converted or with which it may be consolidated, or any
corporation resulting from any merger, consolidation or conversion to which any
Authenticating Agent shall be a party, or any corporation succeeding to the
corporate trust business of any Authenticating Agent, shall be the successor of
such Authenticating Agent hereunder, if such successor corporation is otherwise
eligible under this Section 6.14 without the execution or filing of any paper or
any further act on the part of the parties hereto or such Authenticating Agent.

                           Any Authenticating Agent may at any time resign by
giving written notice of resignation to the Debt Trustee and to the Company.
The Debt Trustee may at any time terminate the agency of any Authenticating
Agent by giving written notice of termination to such Authenticating Agent and
to the Company. Upon receiving such a notice of resignation or upon such a
termination, or in case at any time any Authenticating Agent shall cease to be
eligible under this Section 6.14, the Debt Trustee may, and upon the request of
the Company shall, promptly appoint a successor Authenticating Agent eligible
under this

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<PAGE>

Section 6.14, shall give written notice of such appointment to the Company and
shall mail notice of such appointment to all Holders as the names and addresses
of such Holders appear on the Security Register. Any successor Authenticating
Agent upon acceptance of its appointment hereunder shall become vested with all
rights, powers, duties and responsibilities of its predecessor hereunder, with
like effect as if originally named as Authenticating Agent herein.

                           The Company, as borrower, agrees to pay to any
Authenticating Agent from time to time reasonable compensation for its services.
Any Authenticating Agent shall have no responsibility or liability for any
action taken by it as such in accordance with the directions of the Debt
Trustee.

                                  ARTICLE VII

                             CONCERNING THE HOLDERS

                           SECTION 7.01.     Action by Holders.

                           Whenever in this Indenture it is provided that the
Holders of a specified percentage in aggregate principal amount of the Debt
Securities of any series may take any action (including the making of any demand
or request, the giving of any notice, consent or waiver or the taking of any
other action), the fact that at the time of taking any such action the Holders
of such specified percentage have joined therein may be evidenced (a) by any
instrument or any number of instruments of similar tenor executed by such
Holders in person or by agent or proxy appointed in writing, or (b) by the
record of such Holders voting in favor thereof at any meeting of such Holders
duly called and held in accordance with the provisions of Article VIII, or (c)
by a combination of such instrument or instruments and any such record of such a
meeting of such Holders.

                           If the Company shall solicit from the Holders of Debt
Securities of any series any request, demand, authorization, direction,
notice, consent, waiver or other action, the Company may, at its option, as
evidenced by an Officer's Certificate, fix in advance a record date for the
determination of Holders entitled to give such request, demand, authorization,
direction, notice, consent, waiver or other action, but the Company shall have
no obligation to do so. If such a record date is fixed, such request, demand,
authorization, direction, notice, consent, waiver or other action may be given
before or after the record date, but only the Holders of record at the close of
business on the record date shall be deemed to be Holders for the purposes of
determining whether Holders of the requisite proportion of outstanding Debt
Securities of any series have authorized or agreed or consented to such request,
demand, authorization, direction, notice, consent, waiver or other action, and
for that purpose the outstanding Debt Securities of any such series shall be
computed as of the record date; provided, however, that no such authorization,
agreement or consent by such Holders of Debt Securities of any such series on
the record date shall be deemed effective unless it shall become effective
pursuant to the provisions of this Indenture not later than six months after the
record date.

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<PAGE>

                           SECTION 7.02.     Proof of Execution by Holders.

                           Subject to the provisions of Section 6.01, 6.02 and
8.05, proof of the execution of any instrument by a Holder or his or her agent
or proxy shall be sufficient if made in accordance with such reasonable rules
and regulations as may be prescribed by the Debt Trustee or in such manner as
shall be satisfactory to the Debt Trustee. The ownership of Debt Securities
shall be proved by the Security Register or by a certificate of the Security
Registrar. The Debt Trustee may require such additional proof of any matter
referred to in this Section as it shall deem necessary.

                           The record of any Holders' meeting shall be proved in
the manner provided in Section 8.06.

                           SECTION 7.03.     Who Are Deemed Absolute Owners.

                           Prior to due presentment for registration of transfer
of any Debt Security of any series, the Company, the Debt Trustee, any
Authenticating Agent, any paying agent, any transfer agent and any registrar for
the Debt Securities of any such series may deem the person in whose name such
Debt Security shall be registered upon the Security Register to be, and may
treat him as, the absolute owner of such Debt Security (whether or not such Debt
Security shall be overdue) for the purpose of receiving payment of or on account
of the principal of and premium, if any, and (subject to any applicable
provisions of any supplement hereto) interest on such Debt Security and for all
other purposes; and neither the Company nor the Debt Trustee nor any
Authenticating Agent nor any paying agent nor any transfer agent nor any
registrar for the Debt Securities of any such series shall be affected by any
notice to the contrary. All such payments so made to any Holder for the time
being or upon his or her order shall be valid, and, to the extent of the sum or
sums so paid, effectual to satisfy and discharge the liability for moneys
payable upon any such Debt Security.

                           SECTION 7.04.     Debt Securities Owned by Company
                                             Deemed Not Outstanding.

                           In determining whether the Holders of the requisite
aggregate principal amount of Debt Securities of any series have concurred in
any direction, consent or waiver under this Indenture, Debt Securities of such
series that are owned by the Company or any other obligor on the Debt Securities
of such series or by any Person directly or indirectly controlling or controlled
by or under direct or indirect common control with the Company or any other
obligor on the Debt Securities shall be disregarded and deemed not to be
outstanding for the purpose of any such determination; provided that for the
purposes of determining whether the Debt Trustee shall be protected in relying
on any such direction, consent or waiver, only Debt Securities which a
Responsible Officer of the Debt Trustee actually knows are so owned shall be so
disregarded. Debt Securities so owned which have been pledged in good faith may
be regarded as outstanding for the purposes of this Section 7.04 if the pledgee
shall establish to the satisfaction of the Debt Trustee the pledgee's right to
vote such Debt Securities and that the pledgee is not the Company or any such
other obligor or Person directly or indirectly controlling or controlled by

         41
<PAGE>

or under direct or indirect common control with the Company or any such other
obligor. In the case of a dispute as to such right, any decision by the Debt
Trustee taken upon the advice of counsel shall be full protection to the Debt
Trustee.

                           SECTION 7.05.     Revocation of Consents; Future
                                             Holders Bound.

                           At any time prior to (but not after) the evidencing
to the Debt Trustee, as provided in Section 7.01, of the taking of any action
by the Holders of the percentage in aggregate principal amount of the Debt
Securities of any series specified in this Indenture in connection with such
action, any Holder (or Holder of any Debt Security issued in whole or in part in
exchange or substitution therefor), subject to Section 7.01, of a Debt Security
the serial number of which is shown by the evidence to be included in the group
of Debt Securities the Holders of which have consented to such action may, by
filing written notice with the Debt Trustee at its principal office and upon
proof of holding as provided in Section 7.02, revoke such action so far as
concerns such Debt Security (or so far as concerns the principal amount
represented by any exchanged or substituted Debt Security). Except as aforesaid
any such action taken by any Holder shall be conclusive and binding upon such
Holder and upon all future Holders and owners of such Debt Security, and of any
Debt Security issued in exchange or substitution therefor, irrespective of
whether or not any notation in regard thereto is made upon such Debt Security or
any Debt Security issued in exchange or substitution therefor.

                                  ARTICLE VIII

                                HOLDERS' MEETINGS

                           SECTION 8.01.     Purposes of Meetings.

                           A meeting of Holders of Debt Securities of any series
may be called at any time and from time to time pursuant to the provisions
of this Article VIII for any of the following purposes:

                           (a)      to give any notice to the Company or to the
                                    Debt Trustee, or to give any directions to
                                    the Debt Trustee, or to consent to the
                                    waiving of any default hereunder and its
                                    consequences, or to take any other action
                                    authorized to be taken by Holders of Debt
                                    Securities of such series pursuant to any of
                                    the provisions of Article V;

                           (b)      to remove the Debt Trustee with respect to
                                    such series and nominate a successor trustee
                                    pursuant to the provisions of Article VI;

                           (c)      to consent to the execution of an indenture
                                    or indentures supplemental hereto with
                                    respect to such series pursuant to the
                                    provisions of Section 9.02; or

                           (d)      to take any other action authorized to be
                                    taken

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<PAGE>

                                    by or on behalf of the Holders of Debt
                                    Securities of such series of any specified
                                    aggregate principal amount of such Debt
                                    Securities under any other provision of this
                                    Indenture or under applicable law.

                           SECTION 8.02.     Call of Meetings by Debt Trustee.

                           The Debt Trustee may at any time call a meeting of
Holders of Debt Securities of any series to take any action specified in
Section 8.01, to be held at such time and at such place in New York, New York,
as the Debt Trustee shall determine. Notice of every meeting of such Holders,
setting forth the time and the place of such meeting and in general terms the
action proposed to be taken at such meeting, shall be mailed to such Holders at
their addresses as they shall appear on the Security Register. Such notice shall
be mailed not less than 20 nor more than 60 days prior to the date fixed for the
meeting.

                           SECTION 8.03.     Call of Meetings by Company or
                                             Holders.

                           In case at any time the Company, pursuant to a
resolution of the Board of Directors, or the Holders of at least 10% in
aggregate principal amount of the Debt Securities of any particular series then
outstanding, shall have requested the Debt Trustee to call a meeting of Holders
of Debt Securities of such series, by written request setting forth in
reasonable detail the action proposed to be taken at the meeting, and the Debt
Trustee shall not have mailed the notice of such meeting within 20 days after
receipt of such request, then the Company or such Holders may determine the time
and the place in New York, New York for such meeting and may call such meeting
to take any action authorized in Section 8.01, by mailing notice thereof as
provided in Section 8.02.

                           SECTION 8.04.     Qualifications for Voting.

                           To be entitled to vote at any meeting of Holders of
any series of Debt Securities a Person shall (a) be a Holder of one or more
Debt Securities of such series or (b) a Person appointed by an instrument in
writing as proxy by any such Holder. The only Persons who shall be entitled to
be present or to speak at any meeting of Holders shall be the Persons entitled
to vote at such meeting and their counsel and any representatives of the Debt
Trustee and its counsel and any representatives of the Company and its counsel.

                           SECTION 8.05.     Regulations.

                           Notwithstanding any other provisions of this
Indenture, the Debt Trustee may make such reasonable regulations as it may deem
advisable for any meeting of Holders, in regard to proof of the holding of Debt
Securities and of the appointment of proxies, and in regard to the appointment
and duties of inspectors of votes, the submission and examination of proxies,
certificates and other evidence of the right to vote, and such other matters
concerning the conduct of the meeting as it shall think fit.

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<PAGE>

                           The Debt Trustee shall, by an instrument in writing,
appoint a temporary chairman of the meeting, unless the meeting shall have
been called by the Company or by Holders as provided in Section 8.03, in which
case the Company or the Holders calling the meeting, as the case may be, shall
in like manner appoint a temporary chairman. A permanent chairman and a
permanent secretary of the meeting shall be elected by majority vote of the
meeting.

                           Subject to the provisions of Section 8.04, at any
meeting each Holder or proxy therefor shall be entitled to one vote for each
$1,000 principal amount of Debt Securities of the affected series held or
represented by him; provided, however, that no vote shall be cast or counted at
any meeting in respect of any Debt Security challenged as not outstanding and
ruled by the chairman of the meeting to be not outstanding. The chairman of the
meeting shall have no right to vote other than by virtue of Debt Securities of
the affected series held by him or instruments in writing as aforesaid duly
designating him as the person to vote on behalf of other Holders. Any meeting of
Holders duly called pursuant to the provisions of Section 8.02 or 8.03 may be
adjourned from time to time by a majority of those present, and the meeting may
be held as so adjourned without further notice.

                           SECTION 8.06.     Voting.

                           The vote upon any resolution submitted to any meeting
of Holders shall be by written ballots on which shall be subscribed the
signatures of such Holders or of their representatives by proxy and the serial
number or numbers of the Debt Securities held or represented by them. The
permanent chairman of the meeting shall appoint two inspectors of votes who
shall count all votes cast at the meeting for or against any resolution and who
shall make and file with the secretary of the meeting their verified written
reports in triplicate of all votes cast at the meeting. A record in duplicate of
the proceedings of each meeting of Holders shall be prepared by the secretary of
the meeting and there shall be attached to said record the original reports of
the inspectors of votes on any vote by ballot taken thereat and affidavits by
one or more persons having knowledge of the facts setting forth a copy of the
notice of the meeting and showing that said notice was mailed as provided in
Section 8.02. The record shall show the serial numbers of the Debt Securities
voting in favor of or against any resolution. The record shall be signed and
verified by the affidavits of the permanent chairman and secretary of the
meeting and one of the duplicates shall be delivered to the Company and the
other to the Debt Trustee to be preserved by the Debt Trustee, the latter to
have attached thereto the ballots voted at the meeting.

                           Any record so signed and verified shall be conclusive
evidence of the matters therein stated.

                                   ARTICLE IX

                                   AMENDMENTS

                           SECTION 9.01.     Without Consent of Holders.

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<PAGE>

                           The Company and the Debt Trustee may from time to
time and at any time amend this Indenture, without the consent of the Holders of
Debt Securities of any affected series then outstanding, for one or more of the
following purposes:

                           (a)      to evidence the succession of another Person
                                    to the Company, or successive successions,
                                    and the assumption by the successor Person
                                    of the covenants, agreements and obligations
                                    of the Company pursuant to Article X hereof;

                           (b)      to add to the covenants of the Company such
                                    further covenants, restrictions or
                                    conditions for the protection of the Holders
                                    of the Debt Securities of such series as the
                                    Board of Directors and the Debt Trustee
                                    shall consider to be for the protection of
                                    such Holders, and to make the occurrence, or
                                    the occurrence and continuance, of a default
                                    in any of such additional covenants,
                                    restrictions or conditions a default or an
                                    Event of Default with respect to such series
                                    of Debt Securities permitting the
                                    enforcement of all or any of the remedies
                                    provided in this Indenture as herein set
                                    forth; provided, however, that in respect of
                                    any such additional covenant, restriction or
                                    condition such amendment may provide for a
                                    particular period of grace after default
                                    (which period may be shorter or longer than
                                    that allowed in the case of other defaults)
                                    or may provide for an immediate enforcement
                                    upon such default or may limit the remedies
                                    available to the Debt Trustee upon such
                                    default;

                           (c)      to provide for the issuance under this
                                    Indenture of Debt Securities of any series
                                    in coupon form (including Debt Securities
                                    registrable as to principal only) and to
                                    provide for exchangeability of such Debt
                                    Securities with the Debt Securities of such
                                    series issued hereunder in fully registered
                                    form and to make all appropriate changes for
                                    such purpose;

                           (d)      to cure any ambiguity or to correct or
                                    supplement any provision contained herein or
                                    in any supplemental indenture which may be
                                    defective or inconsistent with any other
                                    provision contained herein or in any
                                    supplemental indenture, or to make such
                                    other provisions in regard to matters or
                                    questions arising under this Indenture;
                                    provided that any such action shall not
                                    materially adversely affect the interests of
                                    the Holders of Debt Securities of such
                                    series;

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<PAGE>

                           (e)      to evidence and provide for the acceptance
                                    of appointment hereunder by a successor
                                    trustee with respect to such series of Debt
                                    Securities;

                           (f)      to make provision for transfer procedures,
                                    certification, book-entry provisions and all
                                    other matters required pursuant to this
                                    Indenture or otherwise necessary, desirable
                                    or appropriate in connection with the
                                    issuance of such series of Debt Securities;
                                    provided that any such action shall not
                                    materially adversely affect the interests of
                                    the Holders of such series of Debt
                                    Securities; to qualify or maintain
                                    qualification of this Indenture under the
                                    Trust Indenture Act; or

                           (g)      to make any change that does not adversely
                                    affect the rights of any such Holder in any
                                    material respect.

                           The Debt Trustee is hereby authorized to join with
the Company in the execution of any supplemental indenture to effect such
amendment, to make any further appropriate agreements and stipulations which may
be therein contained and to accept the conveyance, transfer and assignment of
any property thereunder, but the Debt Trustee shall not be obligated to, but may
in its discretion, enter into any such supplemental indenture which affects the
Debt Trustee's own rights, duties or immunities under this Indenture or
otherwise.

                           Any amendment to this Indenture authorized by the
provisions of this Section 9.01 may be executed by the Company and the Debt
Trustee without the consent of the Holders of Debt Securities of the series
affected at the time outstanding, notwithstanding any of the provisions of
Section 9.02.

                           SECTION 9.02.     With Consent of Holders.

                           With the consent (evidenced as provided in Section
7.01) of the Holders of a majority in aggregate principal amount of the Debt
Securities of all series at the time outstanding affected by such amendment
(voting as one class), the Company, when authorized by a Board Resolution, and
the Debt Trustee may from time to time and at any time amend this Indenture for
the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or of modifying in any manner the rights
of the Holders of any such series; provided, however, that no such amendment
shall, without the consent of the Holders of each Debt Security of each series
then outstanding and affected thereby (i) change the Maturity Date of any such
Debt Security, or reduce the rate or extend the time of payment of interest
thereon (except as contemplated by Article XVI), or reduce the principal amount
thereof, or reduce any amount payable on prepayment thereof, or make the
principal thereof or any interest or premium thereon payable in any coin or
currency other than that provided in such Debt Securities, or impair or affect
the right of any Holder thereof to institute suit for payment thereof, or (ii)
reduce

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<PAGE>

the aforesaid percentage of Debt Securities of any series, the Holders of which
are required to consent to any such amendment to this Indenture, provided,
however, that if any series of Debt Securities are held by an Institutional
Trustee of a SunTrust Capital Trust, such amendment shall not be effective until
the holders of a majority in liquidation amount of Trust Securities of such
SunTrust Capital Trust shall have consented to such amendment; provided,
further, that if the consent of the Holders of each outstanding Debt Security of
any series is required, such amendment shall not be effective until each holder
of the Trust Securities of such SunTrust Capital Trust owning such Debt
Securities shall have consented to such amendment.

                           Upon the request of the Company accompanied by a copy
of a resolution of the Board of Directors certified by its Secretary or
Assistant Secretary authorizing the execution of any supplemental indenture
effecting such amendment, and upon the filing with the Debt Trustee of evidence
of the consent of the affected Holders as aforesaid, the Debt Trustee shall join
with the Company in the execution of such supplemental indenture unless such
supplemental indenture affects the Debt Trustee's own rights, duties or
immunities under this Indenture or otherwise, in which case the Debt Trustee may
in its discretion, but shall not be obligated to, enter into such supplemental
indenture.

                           Promptly after the execution by the Company and the
Debt Trustee of any supplemental indenture pursuant to the provisions of this
Section, the Debt Trustee shall transmit by mail, first class postage prepaid, a
notice, prepared by the Company, setting forth in general terms the substance of
such supplemental indenture, to the Holders of the affected series of Debt
Securities as their names and addresses appear upon the Security Register. Any
failure of the Debt Trustee to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such supplemental
indenture.

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

                           SECTION 9.03.     Compliance with Trust Indenture
                                             Act; Effect of Supplemental
                                             Indentures.

                           Any supplemental indenture executed pursuant to the
provisions of this Article IX shall comply with the Trust Indenture Act. Upon
the execution of any supplemental indenture pursuant to the provisions of this
Article IX, this Indenture shall be and be deemed to be modified and amended in
accordance therewith and the respective rights, limitations of rights,
obligations, duties and immunities under this Indenture of the Debt Trustee, the
Company and the Holders of Debt Securities of each series affected thereby shall
thereafter be determined, exercised and enforced hereunder subject in all
respects to such modifications and amendments, and all the terms and conditions
of any such supplemental indenture shall be and be deemed to be part of the
terms and conditions of this Indenture for any and all purposes.

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<PAGE>

                           SECTION 9.04.     Notation on Debt Securities.

                           Debt Securities of any series authenticated and
delivered after the execution of any supplemental indenture affecting such
series pursuant to the provisions of this Article IX may bear a notation in form
approved by the Debt Trustee as to any matter provided for in such supplemental
indenture. If the Company or the Debt Trustee shall so determine, new Debt
Securities of such series so modified as to conform, in the opinion of the Debt
Trustee and the Board of Directors, to any modification of this Indenture
contained in any such supplemental indenture may be prepared and executed by the
Company, authenticated by the Debt Trustee or the Authenticating Agent and
delivered in exchange for the Debt Securities of such series then outstanding.

                           SECTION 9.05.     Evidence of Compliance of
                                             Supplemental Indenture to be
                                             Furnished to Debt Trustee.

                           The Debt Trustee, subject to the provisions of
Sections 6.01 and 6.02, may receive an Officer's Certificate and an Opinion of
Counsel as conclusive evidence that any supplemental indenture executed pursuant
hereto complies with the requirements of this Article IX.

                                   ARTICLE X

                CONSOLIDATION, MERGER, SALE, CONVEYANCE AND LEASE

                           SECTION 10.01.    Company May Consolidate, etc., on
                                             Certain Terms.

                           Nothing contained in this Indenture or in any Debt
Securities of any series shall prevent (i) any consolidation or merger of the
Company with or into any other Person (whether or not affiliated with the
Company, as the case may be), or successive consolidations or mergers in which
the Company or its successor or successors, as the case may be, shall be a party
or parties, or (ii) prevent any sale, conveyance, transfer or lease of the
property of the Company, or its successor or successors as the case may be, as
an entirety, or substantially as an entirety, to any other Person (whether or
not affiliated with the Company, or its successor or successors, as the case may
be) authorized to acquire and operate the same; provided, that (a) the Company
is the surviving Person, or the Person formed by or surviving any such
consolidation or merger (if other than the Company) or to which such sale,
conveyance, transfer or lease of property is made is a Person organized and
existing under the laws of the United States or any State thereof or the
District of Columbia, and (b) upon any such consolidation, merger, sale,
conveyance, transfer or lease, the due and punctual payment of the principal of,
premium, if any and interest on the Debt Securities of each series then
outstanding according to their tenor and the due and punctual performance and
observance of all the covenants and conditions of this Indenture to be kept or
performed by the Company shall be expressly assumed, by supplemental indenture
(which shall conform to the provisions of the Trust Indenture Act as then in
effect) satisfactory in form to the Debt

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<PAGE>

Trustee executed and delivered to the Debt Trustee by the Person formed by such
consolidation, or into which the Company shall have been merged, or by the
Person which shall have acquired such property, as the case may be, and (c)
after giving effect to such consolidation, merger, sale, conveyance, transfer or
lease, no Default or Event of Default with respect to any series of Debt
Securities shall have occurred and be continuing.

                           SECTION 10.02.    Successor Corporation to be
                                             Substituted for Company.

                           In case of any such consolidation, merger, conveyance
or transfer and upon the assumption by the successor corporation, by
supplemental indenture, executed and delivered to the Debt Trustee and
satisfactory in form to the Debt Trustee, of the obligation of due and punctual
payment of the principal of, premium, if any, and interest on all of the Debt
Securities and the due and punctual performance and observance of all of the
covenants and conditions of this Indenture to be performed or observed by the
Company, such successor Person shall succeed to and be substituted for the
Company, with the same effect as if it had been named herein as the party of the
first part, and the Company thereupon shall be relieved of any further liability
or obligation hereunder or upon the Debt Securities. Such successor Person
thereupon may cause to be signed, and may issue either in its own name or in the
name of SunTrust Banks, Inc., any or all of the Debt Securities of any series
issuable hereunder which theretofore shall not have been signed by the Company
and delivered to the Debt Trustee or the Authenticating Agent; and, upon the
order of such successor Person instead of the Company and subject to all the
terms, conditions and limitations in this Indenture prescribed, the Debt Trustee
or the Authenticating Agent shall authenticate and deliver any Debt Securities
which previously shall have been signed and delivered by the officers of the
Company to the Debt Trustee or the Authenticating Agent for authentication, and
any Debt Securities which such successor Person thereafter shall cause to be
signed and delivered to the Debt Trustee or the Authenticating Agent for that
purpose. All the Debt Securities so issued shall in all respects have the same
legal rank and benefit under this Indenture as the Debt Securities theretofore
or thereafter issued in accordance with the terms of this Indenture as though
all of such Debt Securities had been issued at the date of the execution hereof.

                           SECTION 10.03.    Opinion of Counsel to be Given Debt
                                             Trustee.

                           The Debt Trustee, subject to the provisions of
Sections 6.01 and 6.02, may receive an Opinion of Counsel and/or an Officer's
Certificate as conclusive evidence that any consolidation, merger, sale,
conveyance, transfer or lease, and any assumption, permitted or required by the
terms of this Article X complies with the provisions of this Article X.

                                   ARTICLE XI

                     SATISFACTION AND DISCHARGE OF INDENTURE

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<PAGE>

                           SECTION 11.01.    Discharge of Indenture.

                           When (a) the Company shall deliver to the Debt
Trustee for cancellation all Debt Securities of any series theretofore
authenticated (other than any Debt Securities of such series which shall have
been destroyed, lost or stolen and which shall have been replaced as provided in
Section 2.08) and not theretofore cancelled, or (b) all the Debt Securities of
any series outstanding hereunder not theretofore cancelled or delivered to the
Debt Trustee for cancellation shall have become due and payable, or are by their
terms to become due and payable within one year or are to be called for
prepayment within one year under arrangements satisfactory to the Debt Trustee
for the giving of notice of prepayment, and the Company shall deposit with the
Debt Trustee, in trust, an amount in cash or U.S. Government Obligations,
maturing as to principal and interest at such times and in such amounts as will
insure the availability of cash, or a combination thereof sufficient to pay on
the Maturity Date or upon prepayment all of the Debt Securities of such series
(other than any such Debt Securities which shall have been destroyed, lost or
stolen and which shall have been replaced as provided in Section 2.08) not
theretofore cancelled or delivered to the Debt Trustee for cancellation,
including principal, premium, if any, and interest due or to become due to the
Maturity Date or prepayment date, as the case may be, but excluding, however,
the amount of any moneys for the payment of principal of, premium, if any, or
interest on the Debt Securities (1) theretofore repaid to the Company in
accordance with the provisions of Section 11.04, or (2) paid to any State or to
the District of Columbia pursuant to its unclaimed property or similar laws, and
if in either case the Company shall also pay or cause to be paid all other sums
payable hereunder by the Company, then this Indenture shall cease to be of
further effect except for the provisions of Sections 2.05, 2.07, 2.08, 3.01,
3.02, 3.05, 6.06, 6.10 and 11.04 hereof, which shall survive until such Debt
Securities shall mature and be paid. Thereafter, Sections 6.06, 6.10 and 11.04
shall survive, and the Debt Trustee, on demand of the Company accompanied by any
Officer's Certificate and an Opinion of Counsel and at the cost and expense of
the Company, shall execute proper instruments acknowledging satisfaction of and
discharging this Indenture; the Company, however, hereby agrees to reimburse the
Debt Trustee for any costs or expenses thereafter reasonably and properly
incurred by the Debt Trustee in connection with this Indenture or the Debt
Securities.

                           SECTION 11.02.    Deposited Moneys and U.S.
                                             Government Obligations to be Held
                                            in Trust by Debt Trustee.

                           Subject to the provisions of Section 11.04, all
moneys and U.S. Government Obligations deposited with the Debt Trustee pursuant
to Sections 11.01 or 11.05 shall be held in trust and applied by it to the
payment, either directly or through any paying agent (including the Company if
acting as its own paying agent), to the Holders of the particular series of Debt
Securities for the payment of which such moneys or U.S. Government Obligations
have been deposited with the Debt Trustee, of all sums due and to become due
thereon for principal, premium, if any, and interest.

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<PAGE>

                           The Company shall pay and indemnify the Debt Trustee
against any tax, fee or other charge imposed on or assessed against the U.S.
Government Obligations deposited pursuant to Section 11.01 or 11.05 or the
principal and interest received in respect thereof other than any such tax, fee
or other charge which by law is for the account of the Holders of outstanding
Debt Securities of the affected series.

                           SECTION 11.03.    Paying Agent to Repay Moneys Held.

                           Upon the satisfaction and discharge of this Indenture
all moneys then held by any paying agent of the Debt Securities of any series
(other than the Debt Trustee) shall, upon written demand of the Company, be
repaid to it or paid to the Debt Trustee, and thereupon such paying agent shall
be released from all further liability with respect to such moneys.

                           SECTION 11.04.    Return of Unclaimed Moneys.

                           Any moneys deposited with or paid to the Debt Trustee
or any paying agent for payment of the principal of, premium, if any, or
interest on any Debt Securities of any series and not applied but remaining
unclaimed by the Holders thereof for two years after the date upon which the
principal of, premium, if any, or interest on such Debt Securities, as the case
may be, shall have become due and payable, shall be repaid to the Company by the
Debt Trustee or such paying agent on written demand; and the Holder of any such
Debt Securities shall thereafter look only to the Company for any payment which
such Holder may be entitled to collect and all liability of the Debt Trustee or
such paying agent with respect to such moneys shall thereupon cease.

                           SECTION 11.05.    Defeasance Upon Deposit of Moneys
                                             or U.S. Government Obligations.

                           The Company shall be deemed to have been Discharged
(as defined below) from its obligations with respect to any series of Debt
Securities on the 91st day after the applicable conditions set forth below have
been satisfied:

                           (1)      the Company shall have deposited or caused
                                    to be deposited irrevocably with the Debt
                                    Trustee or the Defeasance Agent (as defined
                                    below) as trust funds in trust, specifically
                                    pledged as security for, and dedicated
                                    solely to, the benefit of the Holders of the
                                    Debt Securities of such series (i) money in
                                    an amount, or (ii) U.S. Government
                                    Obligations, maturing as to principal and
                                    interest at such times and in such amounts
                                    as will insure the availability of cash, or
                                    (iii) a combination of (i) and (ii),
                                    sufficient, in the opinion (with respect to
                                    (ii) and (iii)) of a nationally recognized
                                    firm of independent public accountants
                                    expressed in a written certification thereof
                                    delivered to the

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<PAGE>

                                    Debt Trustee and the Defeasance Agent, if
                                    any, to pay and discharge each installment
                                    of principal of, premium, if any, and
                                    interest on the outstanding Debt Securities
                                    of such series on the dates such
                                    installments of principal, premium or
                                    interest are due;

                           (2)      if the Debt Securities of such series are
                                    then listed on any national securities
                                    exchange or quoted on a quotation system,
                                    the Company shall have delivered to the Debt
                                    Trustee and the Defeasance Agent, if any, an
                                    Opinion of Counsel to the effect that the
                                    exercise of the option under this Section
                                    11.05 would not cause such Debt Securities
                                    to be delisted from such exchange or
                                    quotation system;

                           (3)      no Default or Event of Default with respect
                                    to the Debt Securities of such series shall
                                    have occurred and be continuing on the date
                                    of such deposit; and

                           (4)      the Company shall have delivered to the Debt
                                    Trustee and the Defeasance Agent, if any, an
                                    Opinion of Counsel to the effect that
                                    Holders of the Debt Securities of such
                                    series will not recognize income, gain or
                                    loss for United States Federal income tax
                                    purposes as a result of the exercise of the
                                    option under this Section 11.05 and will be
                                    subject to United States Federal income tax
                                    on the same amount and in the same manner
                                    and at the same times as would have been the
                                    case if such option had not been exercised.

                           "Discharged" means that the Company shall be deemed
to have paid and discharged the entire indebtedness represented by, and
obligations under, the Debt Securities of such series and to have satisfied all
the obligations under this Indenture relating to the Debt Securities of such
series (and the Debt Trustee, at the expense of the Company, shall execute
proper instruments acknowledging the same), except (A) the rights of Holders of
the Debt Securities of such series to receive, from the trust fund described in
clause (1) above, payment of the principal of, premium, if any, and interest on
such Debt Securities when such payments are due; (B) the Company's obligations
with respect to such Debt Securities under Sections 2.07, 2.08, 5.02 and 11.04;
and (C) the rights, powers, trusts, duties and immunities of the Debt Trustee
hereunder.

                           "Defeasance Agent" means another financial
institution which is eligible to act as Debt Trustee hereunder and which assumes
all of the obligations of the Debt Trustee necessary to

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<PAGE>

enable the Debt Trustee to act hereunder. In the event such a Defeasance Agent
is appointed pursuant to this Section, the following conditions shall apply:

                           (1)      The Debt Trustee shall have approval rights
                                    over the document appointing such Defeasance
                                    Agent and the document setting forth such
                                    Defeasance Agent's rights and
                                    responsibilities;

                           (2)      The Defeasance Agent shall provide
                                    verification to the Debt Trustee
                                    acknowledging receipt of sufficient money
                                    and/or U. S. Government Obligations to meet
                                    the applicable conditions set forth in this
                                    Section 11.05.

                                  ARTICLE XII
                    IMMUNITY OF INCORPORATORS, STOCKHOLDERS,
                             OFFICERS AND DIRECTORS

                           SECTION 12.01.    Indenture and Debt Securities
                                             Solely Corporate Obligations.

                           No recourse for the payment of the principal of,
premium, if any, or interest on any Debt Security of any series, or for any
claim based thereon or otherwise in respect thereof, and no recourse under or
upon any obligation, covenant or agreement of the Company in this Indenture, or
in any Debt Security of any series, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person to the Company, either directly or through
the Company or any successor Person to the Company, whether by virtue of any
constitution, statute or rule of law, or by the enforcement of any assessment or
penalty or otherwise; it being expressly understood that this Indenture and the
obligations issued hereunder are solely corporate obligations of the Company,
and that no such personal liability whatever shall attach to, or is or shall be
incurred by, the incorporators, shareholders, officers or directors, as such of
the Company or any successor corporation, or any of them, because of the
creation of the indebtedness hereby authorized, or under or by reason of the
obligations, covenants or agreements contained in this Indenture or in any of
the Debt Securities of any series or coupons, or implied therefrom; and that any
and all such personal liability, either at common law or in equity or by
constitution or statute, of, and any and all such rights and claims against,
every such incorporator, shareholder, officer or director, as such, because of
the creation of the indebtedness hereby authorized, or under or by reason of the
obligations, covenants or agreements contained in this Indenture or in any of
the Debt Securities of any series or coupons, or implied therefrom, are hereby
expressly waived and released as a condition of, and as a consideration for, the
execution of this Indenture and the issue of such Debt Securities.

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<PAGE>

                                  ARTICLE XIII

                            MISCELLANEOUS PROVISIONS

                           SECTION 13.01.    Successors.

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

                           SECTION 13.02.    Official Acts by Successor
                                             Corporation.

                           Any act or proceeding by any provision of this
Indenture authorized or required to be done or performed by any board, committee
or officer of the Company shall and may be done and performed with like force
and effect by the like board, committee or officer of any corporation that shall
at the time be the lawful sole successor of the Company.

                           SECTION 13.03.    Surrender of Company Powers.

                           The Company by instrument in writing executed by
authority of 2/3 (two-thirds) of its Board of Directors and delivered to the
Debt Trustee may surrender any of the powers reserved to the Company, and
thereupon such power so surrendered shall terminate both as to the Company, as
the case may be, and as to any successor Person.

                           SECTION 13.04.    Addresses for Notices, etc.

                           Any notice or demand which by any provision of this
Indenture is required or permitted to be given or served by the Debt Trustee
or by the Holders on the Company may be given or served by being deposited
postage prepaid by first class mail, registered or certified mail, overnight
courier service or conformed telecopy addressed (until another address is filed
by the Company with the Debt Trustee for the purpose) to the Company at 303
Peachtree Street, N.E., Atlanta, Georgia, 30308-3201, Attention: Treasurer. Any
notice, direction, request or demand by any Holder to or upon the Debt Trustee
shall be deemed to have been sufficiently given or made, for all purposes, if
given or made in writing at the office of the Debt Trustee, Bank One, N.A.,
153 West 51st Street, New York, New York 10019, Attention: Corporate Trust
Administration (unless another address is provided by the Debt Trustee to the
Company for such purpose). Any notice or communication to a Holder shall be
mailed by first class mail to his or her address shown on the Security Register.

                           SECTION 13.05.    Governing Law.

                           This Indenture and each Debt Security shall be deemed
to be a contract made under the laws of the State of New York, and for all
purposes shall be governed by and construed in accordance with the laws of said
State, without regard to conflicts of laws principles thereof.

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<PAGE>

                           SECTION 13.06.    Evidence of Compliance with
                                             Conditions Precedent.

                           Upon any application or demand by the Company to the
Debt Trustee to take any action under any of the provisions of this Indenture,
the Company shall furnish to the Debt Trustee an Officer's Certificate stating
that in the opinion of the signers all conditions precedent, if any, provided
for in this Indenture relating to the proposed action have been complied with
and an Opinion of Counsel stating that, in the opinion of such counsel, all such
conditions precedent have been complied with.

                           Each certificate or opinion provided for in this
Indenture and delivered to the Debt Trustee with respect to compliance with a
condition or covenant provided for in this Indenture (except certificates
delivered pursuant to Section 3.05) shall include (1) a statement that the
Person making such certificate or opinion has read such covenant or condition;
(2) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such
certificate or opinion are based; (3) a statement that, in the opinion of such
Person, he has made such examination or investigation as is necessary to enable
him to express an informed opinion as to whether or not such covenant or
condition has been complied with; and (4) a statement as to whether or not, in
the opinion of such person, such condition or covenant has been complied with.

                           SECTION 13.07.    Business Days.

                           In any case where the date of payment of principal
of, premium, if any, or interest on the Debt Securities will not be a Business
Day, the payment of such principal of, premium, if any, or interest on the Debt
Securities need not be made on such date but may be made on the next succeeding
Business Day, with the same force and effect as if made on the date of payment
and no interest shall accrue for the period from and after such date, except
that if such next succeeding Business Day falls in the next succeeding calendar
year, then such payment shall be made on the immediately preceding Business Day,
in each case with the same force and effect as if made on such date.

                           SECTION 13.08.    Trust Indenture Act to Control.

                           If and to the extent that any provision of this
Indenture limits, qualifies or conflicts with the duties imposed by Sections 310
to 318, inclusive, of the Trust Indenture Act, such imposed duties shall
control.

                           SECTION 13.09.    Table of Contents, Headings, etc.

                           The table of contents and the titles and headings of
the articles and sections of this Indenture have been inserted for
convenience of reference only, are not to be considered a part hereof, and shall
in no way modify or restrict any of the terms or provisions hereof.

         55
<PAGE>

                           SECTION 13.10.    Execution in Counterparts.

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

                           SECTION 13.11.    Separability.

                           In case any one or more of the provisions contained
in this Indenture or in the Debt Securities shall for any reason be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provisions of this Indenture or of
the Debt Securities, but this Indenture and the Debt Securities shall be
construed as if such invalid or illegal or unenforceable provision had never
been contained herein or therein.

                           SECTION 13.12.    Assignment.

                           The Company will have the right at all times to
assign any of its respective rights or obligations under this Indenture to a
direct or indirect wholly owned Subsidiary of the Company, provided that, in the
event of any such assignment, the Company will remain liable for all such
obligations. Subject to the foregoing, this Indenture is binding upon and inures
to the benefit of the parties thereto and their respective successors and
assigns. This Indenture may not otherwise be assigned by the parties thereto.

                                  ARTICLE XIV

                          REDEMPTION OF DEBT SECURITIES

                           SECTION 14.01.    Applicability of Article.

                           Debt Securities of any series which are redeemable
before their Stated Maturity shall be redeemable in accordance with their terms
and, except as otherwise specified as contemplated by Section 2.03 for Debt
Securities of any series, in accordance with this Article.

                           SECTION 14.02.    Notice of Redemption; Selection of
                                             Debt Securities.

                           In case the Company shall desire to exercise the
right to redeem all, or, as the case may be, any part of the Debt Securities of
any series in accordance with their terms, it shall fix a date for redemption
and shall mail a notice of such redemption at least 30 and not more than 60 days
prior to the date fixed for redemption to the Holders of Debt Securities of such
series to be so redeemed as a whole or in part at their last addresses as the
same appear on the Security Register. Such mailing shall be by first class mail.
The notice if mailed in the manner herein provided shall be conclusively
presumed to have been duly given, whether or not the Holder receives such
notice. In any case, failure to give such notice by mail or any defect in the
notice to the Holder of any Debt Security of any series designated for
redemption as a whole or in part shall not affect the

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<PAGE>

validity of the proceedings for the redemption of any other Debt Security of
such series.

                           Each such notice of redemption shall specify the
CUSIP number of the Debt Securities of such series to be redeemed, the date
fixed for redemption, the redemption price at which the Debt Securities of such
series are to be redeemed (or the method by which such redemption price is to be
calculated), the place or places of payment that payment will be made upon
presentation and surrender of the Debt Securities of such series, that interest
accrued to the date fixed for redemption will be paid as specified in said
notice, and that on and after said date interest thereon or on the portions
thereof to be redeemed will cease to accrue. If less than all the Debt
Securities of a series are to be redeemed, the notice of redemption shall
specify the numbers of the Debt Securities of such series to be redeemed. In
case any Debt Security of a series is to be redeemed in part only, the notice of
redemption shall state the portion of the principal amount thereof to be
redeemed and shall state that on and after the date fixed for redemption, upon
surrender of such Debt Security, a new Debt Security or Debt Securities of such
series in principal amount equal to the portion thereof that has not been
redeemed will be issued.

                           By 10:00 a.m. New York, New York time on the
redemption date specified in the notice of redemption given as provided in this
Section, the Company will deposit with the Debt Trustee or with one or more
paying agents an amount of money sufficient to redeem on the redemption date all
the Debt Securities so called for redemption at the appropriate Redemption
Price, together with accrued interest to the date fixed for redemption.

                           The Company will give the Debt Trustee notice not
less than 45 days prior to the redemption date (unless a shorter notice is
acceptable to the Trustee) as to the aggregate principal amount of Debt
Securities to be redeemed and the Debt Trustee shall select, in such manner as
in its sole discretion it shall deem appropriate and fair, the Debt Securities
or portions thereof to be redeemed.

                           SECTION 14.03.    Payment of Debt Securities Called
                                             for Redemption.

                           If notice of redemption has been given as provided in
Section 14.02, the Debt Securities or portions of Debt Securities of any
series with respect to which such notice has been given shall become due and
payable on the date and at the place or places stated in such notice at the
applicable Redemption Price, together with interest accrued to the date fixed
for redemption (subject to the rights of Holders at the close of business on a
regular record date in respect of an Interest Payment Date occurring on or prior
to the redemption date), and on and after said date (unless the Company shall
default in the payment of such Debt Securities at the Redemption Price, together
with interest accrued to said date) interest on such Debt Securities or portions
of Debt Securities so called for redemption shall cease to accrue. On
presentation and surrender of such Debt Securities at a place of payment
specified in said notice, the said Debt Securities or the specified portions
thereof shall be redeemed by the Company at the applicable Redemption Price,
together with interest accrued thereon to

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<PAGE>

the date fixed for redemption (subject to the rights of Holders on the close of
business on a regular record date in respect of an Interest Payment Date
occurring on or prior to the redemption date).

                           Upon presentation of any Debt Security of a series
redeemed in part only, the Company shall execute and the Debt Trustee shall
authenticate and make available for delivery to the Holder thereof, at the
expense of the Company, a new Debt Security or Debt Securities of such series of
authorized denominations, in principal amount equal to the portion of the Debt
Security so presented that has not been redeemed.

                                   ARTICLE XV

                        SUBORDINATION OF DEBT SECURITIES

                           SECTION 15.01.    Agreement to Subordinate.

                           The Company covenants and agrees, and each Holder of
Debt Securities issued hereunder likewise covenants and agrees, that the Debt
Securities shall be issued subject to the provisions of this Article XV; and
each Holder, whether upon original issue or upon transfer or assignment thereof,
accepts and agrees to be bound by such provisions.

                           The payment by the Company of the principal of,
premium, if any, and interest on all Debt Securities issued hereunder shall, to
the extent and in the manner hereinafter set forth, be subordinated and junior
in right of payment to all Senior Indebtedness, whether outstanding at the date
of this Indenture or thereafter incurred.

                           No provision of this Article XV shall prevent the
occurrence of any Default or Event of Default hereunder.

                           SECTION 15.02.    Default on Senior Indebtedness.

                           In the event and during the continuation of any
default by the Company in the payment of principal, premium, interest or any
other payment due on any Senior Indebtedness, or in the event that the maturity
of any Senior Indebtedness has been accelerated because of a default, then, in
either case, no payment shall be made by the Company with respect to the
principal (including redemption payments) of, premium, if any, or interest on
the Debt Securities of any series or any other amounts which may be due on such
Debt Securities pursuant to the terms hereof or otherwise).

                           In the event of the acceleration of the maturity of
the Debt Securities of any series, then no payment shall be made by the Company
with respect to the principal (including redemption payments) of, premium, if
any, or interest on such Debt Securities (including any other amounts which may
be due on such Debt Securities pursuant to the terms hereof or otherwise) until
the holders of all Senior Indebtedness outstanding at the time of such
acceleration shall receive payment in full of such Senior Indebtedness
(including any amounts due upon acceleration).

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<PAGE>

                           In the event that, notwithstanding the foregoing, any
payment shall be received by the Debt Trustee when such payment is
prohibited by the preceding paragraphs of this Section 15.02, such payment shall
be held in trust for the benefit of, and shall be paid over or delivered to, the
holders of Senior Indebtedness or their respective representatives, or to the
trustee or trustees under any indenture pursuant to which any of such Senior
Indebtedness may have been issued, as their respective interests may appear, but
only to the extent that the holders of the Senior Indebtedness (or their
representative or representatives or a trustee) notify the Debt Trustee in
writing within 90 days of such payment of the amounts then due and owing on such
Senior Indebtedness, and only the amounts specified in such notice to the Debt
Trustee shall be paid to the holders of such Senior Indebtedness.

                           SECTION 15.03.    Liquidation; Dissolution;
                                             Bankruptcy.

                           Upon any payment by the Company or distribution of
assets of the Company of any kind or character, whether in cash, property or
securities, to creditors upon any dissolution, winding-up, liquidation or
reorganization of the Company, whether voluntary or involuntary or in
bankruptcy, insolvency, receivership or other proceedings, all Senior
Indebtedness of the Company shall first be paid in full, or payment thereof
provided for in money in accordance with its terms, before any payment is made
by the Company on account of the principal of, premium, if any, or interest on
such Debt Securities of any series (including any other amounts which may be due
on such Debt Securities pursuant to the terms hereof or otherwise); and upon any
such dissolution or winding-up or liquidation or reorganization, any payment by
the Company, or distribution of assets of the Company of any kind or character,
whether in cash, property or securities, which the Holders or the Debt Trustee
would be entitled to receive from the Company, except for the provisions of this
Article XV, shall be paid by the Company or by any receiver, trustee in
bankruptcy, liquidating trustee, agent or other Person making such payment or
distribution, or by the Holders or by the Debt Trustee under this Indenture if
received by them or it, directly to the holders of Senior Indebtedness of the
Company (pro rata to such holders on the basis of the respective amounts of
Senior Indebtedness held by such holders, as calculated by the Company) or their
representative or representatives, or to the trustee or trustees under any
indenture pursuant to which any instruments evidencing such Senior Indebtedness
may have been issued, as their respective interests may appear, to the extent
necessary to pay all such Senior Indebtedness in full, in money or money's
worth, after giving effect to any concurrent payment or distribution to or for
the holders of such Senior Indebtedness, before any payment or distribution is
made to the Holders or to the Debt Trustee.

                           In the event that, notwithstanding the foregoing, any
payment or distribution of assets of the Company of any kind or character
prohibited by the foregoing, whether in cash, property or securities, shall be
received by the Debt Trustee before all Senior Indebtedness is paid in full, or
provision is made for such payment in money in accordance with its terms, such
payment or distribution shall be held in trust for the benefit of and shall be
paid over or delivered to the holders of such Senior Indebtedness or their
representative or

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<PAGE>

representatives, or to the trustee or trustees under any indenture pursuant to
which any instruments evidencing such Senior Indebtedness may have been issued,
as their respective interests may appear, as calculated by the Company, for
application to the payment of all Senior Indebtedness remaining unpaid to the
extent necessary to pay all such Senior Indebtedness in full in money in
accordance with its terms, after giving effect to any concurrent payment or
distribution to or for the benefit of the holders of such Senior Indebtedness.

                           For purposes of this Article XV, the words "cash,
property or securities" shall not be deemed to include shares of stock of the
Company as reorganized or readjusted, or securities of the Company or any other
corporation provided for by a plan of reorganization or readjustment, the
payment of which is subordinated at least to the extent provided in this Article
XV with respect to the Debt Securities of any series to the payment of Senior
Indebtedness that may at the time be outstanding, provided that (i) such Senior
Indebtedness is assumed by the new corporation, if any, resulting from any such
reorganization or readjustment, and (ii) the rights of the holders of such
Senior Indebtedness are not, without the consent of such holders, altered by
such reorganization or readjustment. The consolidation of the Company with, or
the merger of the Company into, another Person or the liquidation or dissolution
of the Company following the sale, conveyance, transfer or lease of its property
as an entirety, or substantially as an entirety, to another Person upon the
terms and conditions provided for in Article X of this Indenture shall not be
deemed a dissolution, winding-up, liquidation or reorganization for the purposes
of this Section 15.03 if such other Person shall, as a part of such
consolidation, merger, sale, conveyance, transfer or lease, comply with the
conditions stated in Article X of this Indenture. Nothing in Section 15.02 or in
this Section 15.03 shall apply to claims of, or payments to, the Debt Trustee
under or pursuant to Section 6.06 of this Indenture.

                           SECTION 15.04.    Subrogation.

                           Subject to the payment in full of all Senior
Indebtedness, the rights of the Holders of Debt Securities of any series shall
be subrogated to the rights of the holders of such Senior Indebtedness to
receive payments or distributions of cash, property or securities of the
Company, as the case may be, applicable to such Senior Indebtedness until the
principal of, premium, if any, and interest on the Debt Securities of such
series shall be paid in full; and, for the purposes of such subrogation, no
payments or distributions to the holders of such Senior Indebtedness of any
cash, property or securities to which the Holders or the Debt Trustee would be
entitled except for the provisions of this Article XV, and no payment over
pursuant to the provisions of this Article XV to or for the benefit of the
holders of such Senior Indebtedness by Holders or the Debt Trustee, shall, as
between the Company, its creditors other than holders of Senior Indebtedness of
the Company, and the Holders, be deemed to be a payment by the Company to or on
account of such Senior Indebtedness. It is understood that the provisions of
this Article XV are and are intended solely for the purposes of defining the
relative rights of the Holders, on the one hand, and the holders of such Senior
Indebtedness on the other hand.

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<PAGE>

                           Nothing contained in this Article XV or elsewhere in
this Indenture or in the Debt Securities of any series is intended to or
shall (i) impair, as between the Company, its creditors other than the holders
of Senior Indebtedness of the Company, and the Holders of Debt Securities of any
series, the obligation of the Company, which is absolute and unconditional, to
pay to the Holders of Debt Securities of any series the principal of, premium,
if any, and interest on such Debt Securities as and when the same shall become
due and payable in accordance with their terms, or (ii) affect the relative
rights of such Holders and creditors of the Company, as the case may be, other
than the holders of Senior Indebtedness of the Company, as the case may be, nor
shall anything herein or therein prevent the Debt Trustee or any such Holder
from exercising all remedies otherwise permitted by applicable law upon default
under this Indenture, subject to the rights, if any, under this Article XV of
the holders of such Senior Indebtedness in respect of cash, property or
securities of the Company, as the case may be, received upon the exercise of any
such remedy.

                           Upon any payment or distribution of assets of the
Company referred to in this Article XV, the Debt Trustee, subject to the
provisions of Article VI of this Indenture, and the Holders of Debt Securities
of any series shall be entitled to conclusively rely upon any order or decree
made by any court of competent jurisdiction in which such dissolution,
winding-up, liquidation or reorganization proceedings are pending, or a
certificate of the receiver, trustee in bankruptcy, liquidation trustee, agent
or other Person making such payment or distribution, delivered to the Debt
Trustee or to such Holders, for the purposes of ascertaining the Persons
entitled to participate in such distribution, the holders of Senior Indebtedness
and other indebtedness of the Company, as the case may be, the amount thereof or
payable thereon, the amount or amounts paid or distributed thereon and all other
facts pertinent thereto or to this Article XV.

                           SECTION 15.05.    Debt Trustee to Effectuate
                                             Subordination.

                           Each Holder by such Holder's acceptance thereof
authorizes and directs the Debt Trustee on such Holder's behalf to take such
action as may be necessary or appropriate to effectuate the subordination
provided in this Article XV and appoints the Debt Trustee such Holder's
attorney-in-fact for any and all such purposes.

                           SECTION 15.06.    Notice by the Company.

                           The Company shall give prompt written notice to a
Responsible Officer of the Debt Trustee of any fact known to the Company that
would prohibit the making of any payment of monies to or by the Debt Trustee in
respect of the Debt Securities of any series pursuant to the provisions of this
Article XV. Notwithstanding the provisions of this Article XV or any other
provision of this Indenture, the Debt Trustee shall not be charged with
knowledge of the existence of any facts that would prohibit the making of any
payment of monies to or by the Debt Trustee in respect of the Debt Securities of
any series pursuant to the provisions of this Article XV, unless and until a
Responsible Officer of the Debt Trustee shall have received written notice
thereof from the Company or a holder or holders of Senior

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<PAGE>

Indebtedness or from any trustee therefor; and before the receipt of any such
written notice, the Debt Trustee, subject to the provisions of Article VI of
this Indenture, shall be entitled in all respects to assume that no such facts
exist; provided, however, that if the Debt Trustee shall not have received the
notice provided for in this Section 15.06 at least two Business Days prior to
the date upon which by the terms hereof any money may become payable for any
purpose (including, without limitation, the payment of the principal of,
premium, if any, or interest on any Debt Security), then, anything herein
contained to the contrary notwithstanding, the Debt Trustee shall have full
power and authority to receive such money and to apply the same to the purposes
for which they were received, and shall not be affected by any notice to the
contrary that may be received by it within two Business Days prior to such date.

                           The Debt Trustee, subject to the provisions of
Article VI of this Indenture, shall be entitled to conclusively rely on a
written notice delivered to it by a Person representing himself to be a holder
of Senior Indebtedness of the Company (or a trustee on behalf of such holder),
as the case may be, to establish that such notice has been given by a holder of
such Senior Indebtedness or a trustee on behalf of any such holder or holders.
In the event that the Debt Trustee determines in good faith that further
evidence is required with respect to the right of any Person as a holder of such
Senior Indebtedness to participate in any payment or distribution pursuant to
this Article XV, the Debt Trustee may request such Person to furnish evidence to
the reasonable satisfaction of the Debt Trustee as to the amount of such Senior
Indebtedness held by such Person, the extent to which such Person is entitled to
participate in such payment or distribution and any other facts pertinent to the
rights of such Person under this Article XV, and, if such evidence is not
furnished, the Debt Trustee may defer any payment to such Person pending
judicial determination as to the right of such Person to receive such payment.

                           Upon any payment or distribution of assets of the
Company referred to in this Article XV, the Debt Trustee and the Holders shall
be entitled to rely upon any order or decree entered by any court of competent
jurisdiction in which such insolvency, bankruptcy, receivership, liquidation,
reorganization, dissolution, winding-up or similar case or proceeding is
pending, or a certificate of the trustee in bankruptcy, liquidating trustee,
custodian, receiver, assignee for the benefit of creditors, agent or other
person making such payment or distribution, delivered to the Debt Trustee or to
the Holders, for the purpose of ascertaining the persons entitled to participate
in such payment or distribution, the holders of Senior Indebtedness and other
indebtedness of the Company, the amount thereof or payable thereon, the amount
or amounts paid or distributed thereon and all other facts pertinent thereto or
to this Article XV.

                           SECTION 15.07.    Rights of the Debt Trustee; Holders
                                             of Senior Indebtedness.

                           The Debt Trustee in its individual capacity shall be
entitled to all the rights set forth in this Article XV in respect of any
Senior Indebtedness at any time held by it, to the same extent as any other
holder of Senior Indebtedness, and nothing in this Indenture

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<PAGE>

shall deprive the Debt Trustee of any of its rights as such holder.

                           With respect to the holders of Senior Indebtedness of
the Company, the Debt Trustee undertakes to perform or to observe only such
of its covenants and obligations as are specifically set forth in this Article
XV, and no implied covenants or obligations with respect to the holders of such
Senior Indebtedness shall be read into this Indenture against the Debt Trustee.
The Debt Trustee shall not be deemed to owe any fiduciary duty to the holders of
such Senior Indebtedness and, subject to the provisions of Article VI of this
Indenture, the Debt Trustee shall not be liable to any holder of such Senior
Indebtedness if it shall pay over or deliver to Holders, the Company or any
other Person money or assets to which any holder of such Senior Indebtedness
shall be entitled by virtue of this Article XV or otherwise.

                           Nothing in this Article XV shall apply to claims of,
or payments to, the Debt Trustee under or pursuant to Section 6.06.

                           SECTION 15.08.    Subordination May Not Be Impaired.

                           No right of any present or future holder of any
Senior Indebtedness of the Company to enforce subordination as herein provided
shall at any time in any way be prejudiced or impaired by any act or failure to
act on the part of the Company, as the case may be, or by any act or failure to
act, in good faith, by any such holder, or by any noncompliance by the Company,
as the case may be, with the terms, provisions and covenants of this Indenture,
regardless of any knowledge thereof that any such holder may have or otherwise
be charged with.

                           Without in any way limiting the generality of the
foregoing paragraph, the holders of Senior Indebtedness of the Company may, at
any time and from time to time, without the consent of or notice to the Debt
Trustee or the Holders of Debt Securities of any series, without incurring
responsibility to such Holders and without impairing or releasing the
subordination provided in this Article XV or the obligations hereunder of such
Holders to the holders of such Senior Indebtedness, do any one or more of the
following: (i) change the manner, place or terms of payment or extend the time
of payment of, or renew or alter, such Senior Indebtedness, or otherwise amend
or supplement in any manner such Senior Indebtedness or any instrument
evidencing the same or any agreement under which such Senior Indebtedness is
outstanding; (ii) sell, exchange, release or otherwise deal with any property
pledged, mortgaged or otherwise securing such Senior Indebtedness; (iii) release
any Person liable in any manner for the collection of such Senior Indebtedness;
and (iv) exercise or refrain from exercising any rights against the Company, as
the case may be, and any other Person.

                           IN WITNESS WHEREOF, the parties hereto have caused
this Indenture to be duly executed by their respective officers thereunto duly
authorized, as of the day and year first above written.

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<PAGE>

                                    SUNTRUST BANKS, INC.

                                    By:
                                        ---------------------------------------
                                        Name:
                                        Title:

                                    Bank One, N.A.,
                                    as Debt Trustee

                                    By:
                                        ---------------------------------------
                                        Name:
                                        Title:

         64

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