Document:

Exhibit 4.4

 

BYLAWS

 

FLEETWOOD ENTERPRISES, INC.

(a Delaware corporation)

 

(Restated as of June 11, 1985)

 

ARTICLE I

 

OFFICES

 

Section 1.01                     Registered
Office.  The registered office of
Fleetwood Enterprises, Inc. (hereinafter called the “Corporation”) in the
state of Delaware shall be 1209 Orange Street, City of Wilmington, County
of New Castle, and the name of the registered agent at that address shall be
The Corporation Trust Company.

 

Section 1.02                     Principal
Office.  The principal office for the
transaction of the business of the Corporation shall be at 3125 Myers
Street, Riverside, California 92523.  The
Board of Directors (hereinafter called the “Board”) is hereby granted full
power and authority to change said principal office from one location to another.

 

Section 1.03                     Other
Offices.  The Corporation may also have
an office or offices at such other place or places, either within or without
the State of Delaware, as the Board may from time to time determine or as the
business of the Corporation may require.

 

ARTICLE II

 

MEETINGS OF STOCKHOLDERS

 

Section 2.01                     Annual
Meetings.  Annual meetings of the
stockholders of the Corporation for the purpose of electing directors and for
the transaction of such other proper business as may come before such meetings
may be held at such time, date and place as the Board shall determine by
resolution.

 

Section 2.02                     Special
Meetings.  Special meetings of the
stockholders of the Corporation for any purpose or purposes may be called at
any time by the Board, or by a committee of the Board which has been duly
designated by the Board and whose powers and authority, as provided in a
resolution of the Board or in the Bylaws, include the power to call such
meetings, but such special meetings may not be called by any other person or
persons; provided, however, that if and to the extent that any special meeting
of stockholders may be called by any other person or persons specified in any
provisions of the Certificate of Incorporation or any amendment thereto or any
certificate filed under Section 151(g) of the Delaware General
Corporation law (or its successor statute as in effect from time to time
hereafter), then such special meeting may also be called by the person or
persons, in the manner, at the times and for the purposes so specified.

 

 

Section 2.03                     Place of
Meetings.  All meetings of the
stockholders shall be held at such places, within or without the State of
Delaware, as may from time to time be designated by the person or persons
calling the respective meeting and specified in the respective notices or
waivers of notice thereof.

 

Section 2.04                     Notice of
Meetings.  Except as otherwise required
by law, notice of each meeting of the stockholders, whether annual or special,
shall be given not less than ten (10) nor more than sixty (60) days before
the date of the meeting to each stockholder of record entitled to vote at such
meeting by delivering a typewritten or printed notice thereof to him
personally, or by depositing such notice in the United States mail, in a
postage prepaid envelope, directed to him at his post-office address furnished
by him to the Secretary of the Corporation for such purpose or, if he shall not
have furnished to the Secretary his address for such purposes, then at his
post-office address last known to the Secretary, or by transmitting a notice
thereof to him at such address by telegraph, cable or wireless.  Except as otherwise expressly required by
law, no publication of any notice of a meeting of the stockholders shall be
required.  Every notice of a meeting of
the stockholders shall state the place, date and hour of the meeting, and in
the case of a special meeting, shall also state the purpose or purposes for
which the meeting is called.  Notice of
any meeting of stockholders shall not be required to be given to any
stockholder who shall have waived such notice and such notice shall be deemed
waived by any stockholder who shall attend such meeting in person or by proxy,
except a stockholder who shall attend such meeting for the express purpose of
objecting, at the beginning of the meeting, to the transaction of any business
because the meeting is not lawfully called or convened.  Except as otherwise expressly required by
law, notice of any adjourned meeting of the stockholders need not be given if
the time and place thereof are announced at the meeting at which the
adjournment is taken.

 

Section 2.05                     Notice of
Stockholder Business at Annual Meetings. 
At an annual meeting of the stockholders, only such business shall be
conducted as shall have been properly brought before the meeting.  To be properly brought before an annual
meeting business must be (a) specified in the notice of meeting (or any
supplement thereto) given by or at the direction of the Board of Directors, (b) otherwise
properly brought before the meeting by or at the direction of the Board of
Directors, or (c) otherwise properly brought before the meeting by a
stockholder.  For business to be properly
brought before an annual meeting by a stockholder, the stockholder must have
given timely notice thereof in writing to the Secretary of the
Corporation.  To be timely, a stockholder’s
notice must be delivered to or mailed and received at the principal executive
offices of the Corporation, not less than 60 days nor more than 90 days prior
to the meeting; provided, however, that in the event that less than 70 days’
notice or prior public disclosure of the date of the meeting is given or made
to stockholders, notice by the stockholder to be timely must be so received not
later than the close of business on the 10th day following the day on which
such notice of the date of the annual meeting was mailed or such public
disclosure was made.  A stockholder’s
notice to the Secretary shall set forth as to each matter the stockholder
proposes to bring before the annual meeting (a) a brief description of the
business desired to be brought before the annual meeting and the reasons for
conducting such business at the annual meeting, (b) the name and address,
as they appear on the Corporation’s books, of the stockholder proposing such
business, (c) the class and number of shares of stock of the Corporation
which are beneficially owned by the stockholder, and (d) any material
interest of the stockholder in such business. 
Notwithstanding anything in the Bylaws to the contrary, no business
shall be conducted at an annual meeting except in accordance with the
procedures set

 

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forth in this Section 2.05.  The Chairman of an annual meeting shall, if
the facts warrant, determine and declare to the meeting that business was not
properly brought before the meeting and in accordance with the provisions of
this Section 2.05, and if he should so determine, he shall so declare to
the meeting and any such business not properly brought before the meeting shall
not be transacted.

 

Section 2.06                     Notice of
Stockholder Nominees for Director.  Only
persons who are nominated in accordance with the procedures set forth in this Section 2.06
shall be eligible for election as Directors. 
Nominations of persons for election to the Board of Directors of the
Corporation may be made at a meeting of stockholders by or at the direction of
the Board of Directors or by any stockholder of the Corporation entitled to
vote for the election of Directors at the meeting who complies with the notice
procedures set forth in this Section 2.06. 
Such nominations, other than those made by or at the direction of the
Board of Directors, shall be made pursuant to timely notice in writing to the
Secretary of the Corporation.  To be
timely, a stockholder’s notice shall be delivered to or mailed and received at
the principal executive offices of the Corporation not less than 60 days
nor more than 90 days prior to the meeting; provided, however, that in the
event that less than 70 days’ notice or prior public disclosure of the
date of the meeting is given or made to stockholders, notice by the stockholder
to be timely must be so received not later than the close of business on the
10th day following the day on which such notice of the date of the meeting
was mailed or such public disclosure was made. 
Such stockholder’s notice shall set forth (a) as to each person
whom the stockholder proposes to nominate for election or reelection as a
director, (i) the name, age, business address and residence address of
such person, (ii) the principal occupation or employment of such person, (iii) the
class and number of shares of stock of the Corporation which are beneficially
owned by such person and (iv) any other information relating to such
person that is required to be disclosed in solicitations of proxies for
election of Directors, or is otherwise required, in each case pursuant to
Regulation 14A under the Securities Exchange Act of 1934, as amended
(including without limitation such person’s written consent to being named in
the proxy statement as a nominee and to serving as a director if elected); and (b) as
to the stockholder giving the notice (i) the name and address, as they
appear on the Corporation’s books, of such stockholder and (ii) the class
and number of shares of stock of the Corporation which are beneficially owned
by such stockholder.  At the request of
the Board of Directors any person nominated by the Board of Directors for
election as a Director shall furnish to the Secretary of the Corporation that
information required to be set forth in a stockholder’s notice of nomination
which pertains to the nominee.  No person
shall be eligible for election as a director of the Corporation unless
nominated in accordance with the procedures set forth in this Section 2.06.  The Chairman of the meeting shall, if the
facts warrant, determine and declare to the meeting that a nomination was not
made in accordance with the procedures prescribed by the Bylaws, and if he
should so determine, he shall so declare to the meeting and the defective
nomination shall be disregarded.

 

Section 2.07                     Quorum.  Except in the case of any meeting for the
election of directors summarily ordered as provided by law, the holders of
record of a majority in voting interest of the shares of stock of the
Corporation entitled to be voted thereat, present in person or by proxy, shall
constitute a quorum for the transaction of business at any meeting of the
stockholders of the Corporation or any adjournment thereof.  In the absence of a quorum at any meeting or
any adjournment thereof, a majority in voting interest of the stockholders
present in person or by proxy and entitled to vote thereat or, in the absence
therefrom of all the stockholders, any officer

 

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entitled to preside at or to
act as secretary of, such meeting may adjourn such meeting from time to
time.  At any such adjourned meeting at
which a quorum is present any business may be transacted which might have been
transacted at the meeting as originally called.

 

Section 2.08                     Voting.  (a) Each stockholder shall, at each
meeting of the stockholders, be entitled to vote in person or by proxy each
share or fractional share of the stock of the Corporation having voting rights
on the matter in question and which shall have been held by him and registered
in his name on the books of the Corporation:

 

(i)                               on
the date fixed pursuant to Section 6.05 of these Bylaws as the record date
for the determination of stockholders entitled to notice of and to vote at such
meeting, or

 

(ii)                            if no
such record date shall have been so fixed, then (a) at the close of
business on the next day preceding the day on which notice of the meeting shall
be given or (b) if notice of the meeting shall be waived, at the close of
business on the day next preceding the day on which the meeting shall be held.

 

(b)                           Shares
of its own stock belonging to the Corporation or to another corporation, if a
majority of the shares entitled to vote in the election of directors in such
other corporation is held, directly or indirectly, by the Corporation, shall
neither be entitled to vote nor be counted for quorum purposes.  Persons holding stock of the Corporation in a
fiduciary capacity shall be entitled to vote such stock.  Persons whose stock is pledged shall be
entitled to vote, unless in the transfer by the pledgor on the books of the
Corporation he shall have expressly empowered the pledge to vote thereon, in
which case only the pledgee, or his proxy, may represent such stock and vote
thereon.  Stock having voting power
standing of record in the names of two or more persons, whether fiduciaries,
members of a partnership, joint tenants, tenants in common, tenants by the
entirety or otherwise, or with respect to which two or more persons have the
same fiduciary relationship, shall be voted in accordance with the provisions
of the General Corporation Law of the State of Delaware.

 

(c)                            Any
such voting rights may be exercised by the stockholder entitled thereto in
person or by his proxy appointed by an instrument in writing, subscribed by
such stockholder or by his attorney thereunto authorized and delivered to the
secretary of the meeting; provided, however, that no proxy shall be voted or
acted upon after three years from its date unless said proxy shall provide for
a longer period.  The attendance at any
meeting of a stockholder who may theretofore have given a proxy shall not have
the effect of revoking the same unless he shall in writing so notify the
secretary of the meeting prior to the voting of the proxy.  At any meeting of the stockholders all
matters, except as otherwise provided in the Certificate of Incorporation, in
these Bylaws or by law, shall be decided by the vote of a majority in voting
interest of the stockholders present in person or by proxy and entitled to vote
thereat and thereon, a quorum being present. 
The vote at any meeting of the stockholders on any question need not be
by ballot, unless so directed by the chairman of the meeting.  On a vote by ballot each ballot shall be
signed by the stockholder voting, or by his proxy, if there be such proxy, and
it shall state the number of shares voted.

 

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Section 2.09                     List of
Stockholders.  The Secretary of the
Corporation shall prepare and make, at least ten (10) days before every
meeting of stockholders, a complete list of the stockholders entitled to vote
at the meeting, arranged in alphabetical order, and showing the address of each
stockholder and the number of shares registered in the name of each
stockholder.  Such list shall be open to
the examination of any stockholder, for any purpose germane to the meeting,
during ordinary business hours, for a period of at least ten (10) days
prior to the meeting, either at a place within the city where the meeting is to
be held, which place shall be specified in the notice of the meeting, or, if
not so specified, at the place where the meeting is to be held.  The list shall also be produced and kept at
the time and place of the meeting during the entire duration thereof, and may
be inspected by any stockholder who is present.

 

Section 2.10                     Judges.  If at any meeting of the stockholders a vote
by written ballot shall be taken on any question, the chairman of such meeting
may appoint a judge or judges to act with respect to such vote.  Each judge so appointed shall first subscribe
an oath faithfully to execute the duties of a judge at such meeting with strict
impartiality and according to the best of his ability.  Such judges shall decide upon the
qualification of the voters and shall report the number of shares represented
at the meeting and entitled to vote on such question, shall conduct and accept
the votes, and when the voting is completed, shall ascertain and report the
number of shares voted respectively for and against the question.  Reports of the judges shall be in writing and
subscribed and delivered by them to the Secretary of the Corporation.  The judges need not be stockholders of the
Corporation, and any officer of the Corporation may be a judge on any question
other than a vote for or against a proposal in which he shall have a material
interest.

 

ARTICLE III

 

BOARD OF DIRECTORS

 

Section 3.01                     General
Powers.  The property, business and
affairs of the Corporation shall be managed by the Board.

 

Section 3.02                     Number and
Term of Office.  The authorized number of
directors of the Corporation shall be eight (8) and such authorized number
shall not be changed except by a Bylaw or amendment thereof duly adopted by the
stockholders in accordance with the Certificate of Incorporation or by the
Board amending this Section 3.02.

 

Section 3.03                     Election of
Directors.  The directors shall be
elected by the stockholders of the Corporation, and at each election the persons
receiving the greatest number of votes, up to the number of directors then to
be elected, shall be the persons then elected. 
The election of directors is subject to any provisions contained in the
Certificate of Incorporation relating thereto, including any provisions for a
classified board and for cumulative voting.

 

Section 3.04                     Resignation.  Any director of the Corporation may resign at
any time by giving written notice to the Board or to the Secretary of the
Corporation.  Any such resignation shall
take effect at the time specified therein, or, if the time be not specified, it
shall take effect immediately upon its receipt; and, unless otherwise specified
therein, the acceptance of such resignation shall not be necessary to make it
effective.

 

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Section 3.05                     Vacancies.  Except as otherwise provided in the
Certificate of Incorporation, any vacancy in the Board, whether because of
death, resignation, disqualification, an increase in the number of directors,
or any other cause, may be filled by vote of the majority of the remaining
directors, although less than a quorum. 
Each director so chosen to fill a vacancy shall hold office until his
successor shall have been elected and shall qualify or until he shall resign or
shall have been removed.

 

Section 3.06                     Place of
Meeting, etc.  The Board may hold any of
its meetings at such place or places within or without the State of Delaware as
the Board may from time to time by resolution designate or as shall be designated
by the person or persons calling the meeting or in the notice or a waiver of
notice of any such meeting.  Directors
may participate in any regular or special meeting of the Board by means of
conference telephone or similar communications equipment pursuant to which all
persons participating in the meeting of the Board can hear each other, and such
participation shall constitute presence in person at such meeting.

 

Section 3.07                     First
Meeting.  The Board shall meet as soon as
practicable after each annual election of directors and notice of such first
meeting shall not be required.

 

Section 3.08                     Regular
Meetings.  Regular meetings of the Board
may be held at such times as the Board shall from time to time by resolution
determine.  If any day fixed for a
meeting shall be a legal holiday at the place where the meeting is to be held,
then the meeting shall be held at the same hour and place on the next
succeeding business day not a legal holiday. 
Except as provided by law, notice of regular meetings need not be given.

 

Section 3.09                     Special
Meetings.  Special meetings of the Board
may be called at any time by the Chairman of the Board or the President or by
any two (2) directors, to be held at the principal office of the
Corporation, or at such other place or places, within or without the State of
Delaware, as the person or persons calling the meeting may designate.

 

Notice of all special meetings of the Board
shall be given to each director by two (2) days’ service of the same by
telegram, by letter, or personally.  Such
notice may be waived by any director and any meeting shall be a legal meeting
without notice having been given if all the directors shall be present thereat
or if those not present shall, either before or after the meeting, sign a
written waiver of notice of, or a consent to, such meeting or shall after the
meeting sign the approval of the minutes thereof.  All such waivers, consents or approvals shall
be filed with the corporate records or be made a part of the minutes of the
meeting.

 

Section 3.10                     Quorum and
Manner of Acting.  Except as otherwise
provided in these Bylaws or by law, the presence of a majority of the
authorized number of directors shall be required to constitute a quorum for the
transaction of business at any meeting of the Board, and all matters shall be
decided at any such meeting, a quorum being present, by the affirmative votes
of a majority of the directors present. 
In the absence of a quorum, a majority of directors present at any
meeting may adjourn the same from time to time until a quorum shall be
present.  Notice of any adjourned meeting
need not be given.  The directors shall
act only as a Board, and the individual directors shall have no power as such.

 

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Section 3.11                     Action by
Consent.  Any action required or
permitted to be taken at any meeting of the Board or of any committee thereof
may be taken without a meeting if a written consent thereto is signed by all
members of the Board or of such committee, as the case may be, and such written
consent is filed with the minutes of proceedings of the Board or such
committee.

 

Section 3.12                     Compensation.  No stated salary need be paid directors, as
such, for their services, but, by resolution of the Board, a fixed sum and expenses
of attendance, if any, may be allowed for attendance at each regular or special
meeting of the Board or an annual directors’ fee may be paid; provided that
nothing herein contained shall be construed to preclude any director from
serving the Corporation in any other capacity and receiving compensation
therefor.  Members of special or standing
committees may be allowed like compensation for attending committee meetings.

 

Section 3.13                     Committees.  The Board may, by resolution passed by a
majority of the whole Board, designate one or more committees, each committee
to consist of one or more of the directors of the Corporation.  Any such committee, to the extent provided in
the resolution of the Board, shall have and may exercise all the powers and
authority of the Board in the management of the business and affairs of the
Corporation, and may authorize the seal of the Corporation to be affixed to all
papers which may require it; but no such committee shall have any power or
authority in reference to amending the Certificate of Incorporation, adopting
an agreement of merger or consolidation, recommending to the stockholders the
sale, lease or exchange of all or substantially all of the Corporation’s
property and assets, recommending to the stockholders a dissolution of the
Corporation or a revocation of the dissolution, or amending the Bylaws of the
Corporation; and unless the resolution of the Board expressly so provides, no
such committee shall have the power or authority to declare a dividend or to
authorize the issuance of stock.  Any
such committee shall keep written minutes of its meetings and report the same
to the Board at the next regular meeting of the Board.

 

Section 3.14                     Officers of
the Board.  The Board shall have a
Chairman of the Board and may, at the discretion of the Board, have a Vice
Chairman.  The Chairman of the Board and
the Vice Chairman shall be appointed from time to time by the Board and shall
have such powers and duties as shall be designated by the Board.

 

ARTICLE IV

 

OFFICERS

 

Section 4.01                     Officers.  The officers of the Corporation shall be a
Chairman of the Board, a Chief Executive Officer, a President, one or more Vice
Presidents, a Secretary and a Treasurer. 
The Corporation may also have, at the discretion of the Board, one or more
Assistant Vice Presidents, one or more Assistant Secretaries, one or more
Assistant Treasurers and such other officers as may be appointed in accordance
with the provisions of Section 4.03 of this Article IV.  One person may hold two or more offices, except
that the Secretary may not also hold the office of President or Chief Executive
Officer.

 

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Section 4.02                     Election.  The officers of the Corporation, except such
officers as may be appointed in accordance with the provisions of Section 4.03
or Section 4.05 of this Article, shall be chosen annually by the Board,
and each shall hold his office until he shall resign or shall be removed or
otherwise disqualified to serve, or his successor shall be elected and
qualified.

 

Section 4.03                     Subordinate
Officers, etc.  The Board may appoint
such other officers as the business of the Corporation may require, each of
whom shall have such authority and perform such duties as are provided in these
Bylaws or as the Board may from time to time specify and shall hold office
until he shall resign or shall be removed or otherwise disqualified to serve.

 

Section 4.04                     Removal and
Resignation.  Any officer may be removed,
either with or without cause, by a majority of the directors at the time in
office, at any regular or special meeting of the Board, or, except in case of
an officer chosen by the Board, by any officer upon whom such power or removal
may be conferred by the Board.

 

Any officer may resign at any time by giving
written notice to the Board, the Chairman of the Board, the President or the
Secretary of the Corporation.  Any such
resignation shall take effect at the date of the receipt of such notice or at
any later time specified therein; and unless otherwise specified therein, the
acceptance of such resignation shall not be necessary to make it effective.

 

Section 4.05                     Vacancies.  A vacancy in any office because of death,
resignation, removal, disqualification or any other cause shall be filled in
the manner prescribed in the Bylaws for the regular appointments to such
office.

 

Section 4.06                     Chief
Executive Officer.  The Chief Executive
Officer of the Corporation shall, subject to the control of the Board, have
general supervision, direction and control of the business and affairs of the
Corporation.  He shall preside at all
meetings of stockholders.  He shall have
the general powers and duties of management usually vested in the chief
executive officer of a corporation, and shall have such other powers and duties
with respect to the administration of the business and affairs of the
Corporation as may from time to time be assigned to him by the Board or as is
prescribed by the Bylaws.

 

Section 4.07                     President.  The President shall exercise and perform such
powers and duties with respect to the administration of the business and
affairs of the Corporation as may from time to time be assigned to him by the
Chief Executive Officer (unless the President is also the Chief Executive
Officer) or by the Board or as is prescribed by the Bylaws.  In the absence or disability of the Chief
Executive Officer, the President shall perform all of the duties of the Chief
Executive Officer and when so acting shall have all of the powers and be
subject to all the restrictions upon the Chief Executive Officer.

 

Section 4.08                     Vice
Presidents.  The Vice Presidents shall
exercise and perform such powers and duties with respect to the administration
of the business and affairs of the Corporation as may from time to time be
assigned to each of them by the President or by the Chief Executive Officer or
by the Board or as is prescribed by the Bylaws. 
In the absence or disability of the President, the Vice Presidents, in
order of their rank as fixed by the Board, or if

 

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not ranked, the Vice President
designated by the Board, shall perform all of the duties of the President and
when so acting shall have all of the powers of and be subject to all the
restrictions upon the President.

 

Section 4.09                     Secretary.  The Secretary shall keep, or cause to be kept,
a book of minutes at the principal office for the transaction of the business
of the Corporation, or such other place as the Board may order, of all meetings
of directors and stockholders, with the time and place of holding, whether
regular or special, and if special, how authorized and the notice thereof
given, the names of those present at directors’ meetings, the number of shares
present or represented at stockholders’ meetings and the proceedings thereof.

 

The Secretary shall keep, or cause to be
kept, at the principal office for the transaction of the business of the
Corporation or at the office of the Corporation’s transfer agent, a share
register, or a duplicate share register, showing the names of the stockholders
and their addresses; the number and classes of shares held by each; the number
and date of certificates issued for the same; and the number and date of
cancellation of every certificate surrendered for cancellation.

 

The Secretary shall give, or cause to be
given, notice of all the meetings of the stockholders and of the Board required
by these Bylaws or by law to be given, and he shall keep the seal of the
Corporation in safe custody, and shall have such other powers and perform such
other duties as may be prescribed by the Board or these Bylaws.  If for any reason the Secretary shall fail to
give notice of any special meeting of the Board called by one or more of the
persons identified in Section 3.09, or if he shall fail to give notice of
any special meeting of the stockholders called by one or more of the persons
identified in Section 2.02, then any such person or persons may give
notice of any such special meeting.

 

Section 4.10                     Treasurer.  The Treasurer shall keep and maintain, or
cause to be kept and maintained, adequate and correct accounts of the
properties and business transactions of the Corporation, including accounts of
its assets, liabilities, receipts, disbursements, gains, losses, capital,
surplus and shares.  Any surplus,
including earned surplus, paid-in surplus and surplus arising from a reduction
of capital, shall be classified according to source and shown in a separate
account.  The books of account shall at
all reasonable times be open to inspection by any director.

 

The Treasurer shall deposit all moneys and
other valuables in the name and to the credit of the Corporation with such
depositories as may be designated by the Board. 
He shall disburse the funds of the Corporation as may be ordered by the
Board, shall render to the President, to the Chief Executive Officer, and to
the directors, whenever they request it, an account of all his transactions as
Treasurer and of the financial condition of the Corporation, and shall have
such other powers and perform such other duties as may be prescribed by the
Board or these Bylaws.

 

ARTICLE V

 

CONTRACTS, CHECKS, DRAFTS, BANK ACCOUNTS, ETC.

 

Section 5.01                     Execution of
Contracts.  The Board, except as in these
Bylaws otherwise provided, may authorize any officer or officers, agent or agents,
to enter into any contract or

 

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execute any instrument in the
name and on behalf of the Corporation, and such authority may be general or
confined to specific instances; and unless so authorized by the Board or by
these Bylaws, no officer, agent or employee shall have any power or authority
to bind the Corporation by any contract or engagement or to pledge its credit
or to render it liable for any purpose or in any amount.

 

Section 5.02                     Checks,
Drafts, etc.  All checks, drafts or other
orders for payment of money, notes or other evidence of indebtedness, issued in
the name of or payable to the Corporation, shall be signed or endorsed by such
person or persons and in such manner as, from time to time, shall be determined
by resolution of the Board.  Each such
person shall give such bond, if any, as the Board may require.

 

Section 5.03                     Deposit.  All funds of the Corporation not otherwise
employed shall be deposited from time to time to the credit of the Corporation
in such banks, trust companies or other depositories as the Board may select,
or as may be selected by any officer or officers, assistant or assistants,
agent or agents, or attorney or attorneys of the Corporation to whom such power
shall have been delegated by the Board. 
For the purpose of deposit and for the purpose of collection for the
account of the Corporation, the Chief Executive Officer, the President, any
Vice President or the Treasurer (or any other officer or officers, assistant or
assistants, agent or agents, or attorney or attorneys of the Corporation who
shall from time to time be determined by the Board) may endorse, assign and
deliver checks, drafts and other orders for the payment of money which are
payable to the order of the Corporation.

 

Section 5.04                     General and
Special Bank Accounts.  The Board may
from time to time authorize the opening and keeping of general and special bank
accounts with such banks, trust companies or other depositories as the Board
may select or as may be selected by any officer or officers, assistant or
assistants, agent or agents, or attorney or attorneys of the Corporation to
whom such power shall have been delegated by the Board.  The Board may make such special rules and
regulations with respect to such bank accounts, not inconsistent with the
provisions of these Bylaws, as it may deem expedient.

 

ARTICLE VI

 

SHARES AND THEIR TRANSFER

 

Section 6.01                     Certificates
for Stock.  Every owner of stock of the
Corporation shall be entitled to have a certificate or certificates, to be in
such form as the Board shall prescribe, certifying the number and class of
shares of the stock of the Corporation owned by him.  The certificates representing shares of such
stock shall be numbered in the order in which they shall be issued and shall be
signed in the name of the Corporation by the President, or a Vice President,
and by the Secretary or an Assistant Secretary or by the Treasurer or an
Assistant Treasurer.  Any or all of the
signatures on the certificates may be a facsimile.  In case any officer, transfer agent or registrar
who has signed or whose facsimile signature has been placed upon any such
certificate shall thereafter have ceased to be such officer, transfer agent or
registrar before such certificate is issued, such certificate may nevertheless
be issued by the Corporation with the same effect as though the person who
signed such certificate, or whose facsimile signature shall have been placed
thereupon, were such officer, transfer agent or

 

10

 

registrar at the date of
issue.  A record shall be kept of the
respective names of the persons, firms or corporations owning the stock
represented by such certificates, the number and class of shares represented by
such certificates) respectively, and the respective dates thereof, and in case
of cancellation, the respective dates of cancellation.  Every certificate surrendered to the
Corporation for exchange or transfer shall be cancelled, and no new certificate
or certificates shall be issued in exchange for any existing certificate until
such existing certificate shall have been so cancelled, except in cases
provided for in Section 6.04.

 

Section 6.02                     Transfers of
Stock.  Transfers of shares of stock of
the Corporation shall be made only on the books of the Corporation by the
registered holder thereof, or by his attorney thereunto authorized by power of
attorney duly executed and filed with the Secretary, or with a transfer clerk
or a transfer agent appointed as provided in Section 6.03, and upon
surrender of the certificate or certificates for such shares properly endorsed
and the payment of all taxes thereon. 
The person in whose name shares of stock stand on the books of the
Corporation shall be deemed the owner thereof for all purposes as regards the
Corporation.  Whenever any transfer of
shares shall be made for collateral security, and not absolutely, such fact
shall be stated expressly in the entry of transfer if, when the certificate or
certificates shall be presented to the Corporation for transfer, both the
transferor and the transferee request the Corporation to do so.

 

Section 6.03                     Regulations.  The Board may make such rules and
regulations as it may deem expedient, not inconsistent with these Bylaws,
concerning the issue, transfer and registration of certificates for shares of
the stock of the Corporation.  It may
appoint, or authorize any officer or officers to appoint one or more transfer
clerks or one or more transfer agents and one or more registrars, and may
require all certificates for stock to bear the signature or signatures of any
of them.

 

Section 6.04                     Lost, Stolen,
Destroyed, and Mutilated Certificates. 
In any case of loss, theft, destruction, or mutilation of any
certificate of stock, another may be issued in its place upon proof of such
loss, theft, destruction, or mutilation and upon the giving of a bond of
indemnity to the Corporation in such form and in such sum as the Board may
direct; provided, however, that a new certificate may be issued without requiring
any bond when, in the judgment of the Board, it is proper to do so.

 

Section 6.05                     Fixing Date
for Determination of Stockholders of Record. 
In order that the Corporation may determine the stockholders entitled to
notice of or to vote at any meeting of stockholders or any adjournment thereof,
or entitled to receive payment of any dividend or other distribution or
allotment of any rights, or entitled to exercise any rights in respect of any
other change, conversion or exchange of stock or for the purpose of any other
lawful action, the Board may fix, in advance, a record date, which shall not be
more than 60 nor less than 10 days before the date of such meeting, nor
more than 60 days prior to any other action.  If, in any case involving the determination of
stockholders for any purpose other than notice of or voting at a meeting of
stockholders, the Board shall not fix such a record date, the record date
determining stockholders for such purpose shall be the close of business on the
day on which the Board shall adopt the resolution relating thereto.  A determination of stockholders entitled to
notice of or to vote at a meeting of stockholders shall apply to any
adjournment of such meeting; provided, however, that the Board may fix a new
record date for the adjourned meeting.

 

11

 

ARTICLE VII

 

INDEMNIFICATION

 

Section 7.01                     Actions, Etc.
Other Than by or in the Right of Corporation. 
The Corporation shall indemnify any 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, administration or investigative
(other than an action by or in the right of the Corporation) by reason of the
fact that he is or was a director, officer, employee or agent of the
Corporation, or is or was serving at the request of the Corporation as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise or as a member of any committee or similar
body, against expenses (including attorneys’ fees), 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 be reasonably believed to be in or not opposed to the best
interests of the Corporation, and, with respect to any criminal action or
proceedings, had no reasonable cause to believe his 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 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 Corporation, and,
with respect to any criminal action or proceeding, that he had reasonable cause
to believe that his conduct was unlawful.

 

Section 7.02                     Actions,
Etc., by or in the Right of the Corporation. 
The Corporation shall indemnify any 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 Corporation to procure a judgment in its favor
by reason of the fact that he is or was a director, officer, employee or agent
of the Corporation, or is or was serving at the request of the Corporation as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, or as a member at any committee or similar
body, against expenses (including attorneys’ fees) 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 Corporation, except that no
indemnification shall be made in respect of any claim, issue or matter as to
which such person shall have been adjudged to be liable for negligence or
misconduct in the performance of his duty to the Corporation unless and only to
the extent that the Court of Chancery 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 indemnify for such expenses which the Court
of Chancery or such other court shall deem proper.

 

Section 7.03                     Determination
of Right of Indemnification.  Any
indemnification under Section 7.01 or 7.02 (unless ordered by a court)
shall be made by the Corporation only as authorized in the specific case upon a
determination that indemnification of the director, officer, employee or agent
is proper in the circumstances because he has met the applicable standard of
conduct set forth in Sections 7.01 and 7.02.  Such determination shall be made (i) by
the Board by a majority vote of a quorum consisting of directors who were not
parties to such action, suit or proceeding, or (ii) if such a quorum is
not obtainable, or, even if obtainable, a quorum of

 

12

 

disinterested directors so
directs, by independent legal counsel in a written opinion, or (iii) by
the stockholders.

 

Section 7.04                     Indemnification
Against Expenses of Successful Party. 
Notwithstanding the other provisions of this Article, to the extent that
a director, officer, employee or agent of the Corporation has been successful
on the merits or otherwise in defense of any action, suit or proceeding
referred to in Section 7.01 or 7.02, or in defense of any claim, issue or
matter therein, he shall be indemnified against expenses (including attorneys’
fees) actually and reasonably incurred by him in connection therewith.

 

Section 7.05                     Advance of
Expenses.  Expenses incurred in defending
a civil or criminal action, suit or proceeding may be paid by the Corporation
in advance of the final disposition of such action, suit or proceeding as
authorized by the Board in the specific case upon receipt of an undertaking by
or on behalf of the director, officer, employee or agent to repay such amount
unless it shall ultimately be determined that he is entitled to be indemnified
by the Corporation as authorized in this Article.

 

Section 7.06                     Other Rights
and Remedies.  The indemnification provided
by this Article shall not be deemed exclusive and is declared expressly to
be nonexclusive of any other rights to which those seeking indemnification may
be entitled under any Bylaws, agreement, vote of stockholders or disinterested
directors or otherwise, both as to action in his official capacity and as to
action in another capacity while holding such office, and shall continue as to
a person who has ceased to be a director, officer, employee or agent and shall
inure to the benefit of the heirs, executors and administrators of such a
person.

 

Section 7.07                     Insurance.  Upon resolution passed by the Board, the
Corporation may purchase and maintain insurance on behalf of any person who is
or was a director, officer, employee or agent of the Corporation, or is or was
serving at the request of the Corporation as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust or other
enterprise or as a member of any committee or similar body against any
liability asserted against him and incurred by him in any such capacity, or
arising our of his status as such, whether or not the Corporation would have
the power to indemnify him against such liability under the provisions of this
Article.

 

Section 7.08                     Constituent
Corporations.  For the purposes of this
Article, references to “the Corporation” include in addition to the resulting
corporation, any constituent corporation (including any constituent of a
constituent) absorbed in a consolidation or merger which, if its separate existence
had continued, would have had power and authority to indemnify its directors,
officers and employees or agents, so that any person who is or was a director,
officer, employee or agent of such constituent corporation or is or was serving
at the request of such constituent corporation as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust or other
enterprise or as a member of any committee or similar body shall stand in the
same position under the provisions of this Article with respect to the
resulting or surviving corporation as he would have with respect to such
constituent corporation if its separate existence had continued.

 

13

 

ARTICLE VIII

 

MISCELLANEOUS

 

Section 8.01                     Seal.  The Board shall provide a corporate seal,
which shall be in the form of a circle and shall bear the name of the
Corporation and words and figures showing that the Corporation was incorporated
in the State of Delaware and the year of incorporation.

 

Section 8.02                     Waiver of
Notices.  Whenever notice is required to
be given by these Bylaws or the Certificate of Incorporation or by law, the
person entitled to said notice may waive such notice in writing, either before
or after the time stated therein, and such waiver shall be deemed equivalent to
notice.

 

Section 8,03                     Fiscal
Year.  The fiscal year of the Corporation
shall begin on the day following the last Sunday in April in each year.

 

Section 8.04                     Amendments.  These Bylaws, or any of them, may be
rescinded, altered, amended or repealed, and new Bylaws may be made (i) by
the Board, by vote of a majority of the number of directors then in office as
directors, acting at any meeting of the board, or (ii) by the vote of the
holders of not less than eighty percent (80%) of the total voting power of all
outstanding shares of voting stock of the Corporation, at an annual meeting of
stockholders, without previous notice, or at any special meeting of
stockholders, provided that notice of such proposed amendment, modification,
repeal or adoption is given in the notice of special meeting.  Any Bylaws made or altered by the
stockholders may be altered or repealed by the Board or may be altered or
repealed by the stock holders.

 

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EXHIBIT 4.16    
    

FLEETWOOD ENTERPRISES, INC.  

SENIOR DEBT SECURITIES  

INDENTURE  

DATED AS OF                    , 20    

                    , TRUSTEE  

 
TABLE OF CONTENTS  

	ARTICLE ONE DEFINITIONS AND INCORPORATION BY REFERENCE	 	1
	 	 	Section 1.01.	 	Definitions.	 	1
	 	 	Section 1.02.	 	Other Definitions.	 	4
	 	 	Section 1.03.	 	Incorporation by Reference of Trust Indenture Act.	 	4
	 	 	Section 1.04.	 	Rules of Construction.	 	4
	

ARTICLE TWO THE SECURITIES	
 	

4
	 	 	Section 2.01.	 	Form and Dating.	 	4
	 	 	Section 2.02.	 	Execution and Authentication.	 	6
	 	 	Section 2.03.	 	Registrar and Paying Agent.	 	6
	 	 	Section 2.04.	 	Paying Agent to Hold Money in Trust.	 	6
	 	 	Section 2.05.	 	Securityholder Lists.	 	6
	 	 	Section 2.06.	 	Transfer and Exchange.	 	7
	 	 	Section 2.07.	 	Replacement Securities.	 	7
	 	 	Section 2.08.	 	Outstanding Securities.	 	7
	 	 	Section 2.09.	 	Temporary Securities.	 	7
	 	 	Section 2.10.	 	Cancellation.	 	8
	 	 	Section 2.11.	 	Defaulted Interest.	 	8
	 	 	Section 2.12.	 	Treasury Securities.	 	8
	 	 	Section 2.13.	 	CUSIP Numbers.	 	8
	 	 	Section 2.14.	 	Deposit of Moneys.	 	8
	 	 	Section 2.15.	 	Book-Entry Provisions for Global Security.	 	8
	

ARTICLE THREE REDEMPTION	
 	

9
	 	 	Section 3.01.	 	Notices to Trustee.	 	9
	 	 	Section 3.02.	 	Selection of Securities to be Redeemed.	 	10
	 	 	Section 3.03.	 	Notice of Redemption.	 	10
	 	 	Section 3.04.	 	Effect of Notice of Redemption.	 	10
	 	 	Section 3.05.	 	Deposit of Redemption Price.	 	10
	 	 	Section 3.06.	 	Securities Redeemed in Part.	 	10
	

ARTICLE FOUR COVENANTS	
 	

11
	 	 	Section 4.01.	 	Payment of Securities.	 	11
	 	 	Section 4.02.	 	Maintenance of Office or Agency.	 	11
	 	 	Section 4.03.	 	Compliance Certificate.	 	11
	 	 	Section 4.04.	 	Maintenance of Corporate Existence.	 	11
	

ARTICLE FIVE SUCCESSOR CORPORATION	
 	

11
	 	 	Section 5.01.	 	When Company May Merge, etc.	 	11
	

ARTICLE SIX DEFAULTS AND REMEDIES	
 	

12
	 	 	Section 6.01.	 	Events of Default.	 	12
	 	 	Section 6.02.	 	Acceleration.	 	12
	 	 	Section 6.03.	 	Other Remedies.	 	13
	 	 	Section 6.04.	 	Waiver of Existing Defaults.	 	13
	 	 	Section 6.05.	 	Control by Majority.	 	13
	 	 	Section 6.06.	 	Limitation on Suits.	 	14
	 	 	Section 6.07.	 	Rights of Holders to Receive Payment.	 	14
	 	 	Section 6.08.	 	Collection Suit by Trustee.	 	14
	 	 	Section 6.09.	 	Trustee May File Proofs of Claim.	 	14
	 	 	Section 6.10.	 	Priorities.	 	14
	 	 	 	 	 	 	 

i

 

	 	 	Section 6.11.	 	Undertaking for Costs.	 	15
	

ARTICLE SEVEN TRUSTEE	
 	

15
	 	 	Section 7.01.	 	Duties of Trustee.	 	15
	 	 	Section 7.02.	 	Rights of Trustee.	 	16
	 	 	Section 7.03.	 	Individual Rights of Trustee.	 	16
	 	 	Section 7.04.	 	Trustee's Disclaimer.	 	17
	 	 	Section 7.05.	 	Notice of Defaults.	 	17
	 	 	Section 7.06.	 	Reports by Trustee to Holders.	 	17
	 	 	Section 7.07.	 	Compensation and Indemnity.	 	17
	 	 	Section 7.08.	 	Replacement of Trustee.	 	18
	 	 	Section 7.09.	 	Successor Trustee by Merger, etc.	 	18
	 	 	Section 7.10.	 	Eligibility; Disqualification.	 	18
	 	 	Section 7.11.	 	Preferential Collection of Claims Against Company.	 	18
	

ARTICLE EIGHT DISCHARGE OF INDENTURE	
 	

18
	 	 	Section 8.01.	 	Defeasance upon Deposit of Moneys or U.S. Government Obligations.	 	18
	 	 	Section 8.02.	 	Survival of the Company's Obligations.	 	21
	 	 	Section 8.03.	 	Application of Trust Money.	 	21
	 	 	Section 8.04.	 	Repayment to the Company.	 	21
	 	 	Section 8.05.	 	Reinstatement.	 	21
	

ARTICLE NINE AMENDMENTS, SUPPLEMENTS AND WAIVERS	
 	

22
	 	 	Section 9.01.	 	Without Consent of Holders.	 	22
	 	 	Section 9.02.	 	With Consent of Holders.	 	22
	 	 	Section 9.03.	 	Compliance with Trust Indenture Act.	 	23
	 	 	Section 9.04.	 	Revocation and Effect of Consents.	 	23
	 	 	Section 9.05.	 	Notation on or Exchange of Securities.	 	23
	 	 	Section 9.06.	 	Trustee to Sign Amendments, etc.	 	24
	

ARTICLE TEN MISCELLANEOUS	
 	

24
	 	 	Section 10.01.	 	Trust Indenture Act Controls.	 	24
	 	 	Section 10.02.	 	Notices.	 	24
	 	 	Section 10.03.	 	Communications by Holders with Other Holders.	 	25
	 	 	Section 10.04.	 	Certificate and Opinion as to Conditions Precedent.	 	25
	 	 	Section 10.05.	 	Statements Required in Certificate or Opinion.	 	25
	 	 	Section 10.06.	 	Rules by Trustee and Agents.	 	25
	 	 	Section 10.07.	 	Legal Holidays.	 	25
	 	 	Section 10.08.	 	Governing Law.	 	25
	 	 	Section 10.09.	 	No Adverse Interpretation of Other Agreements.	 	26
	 	 	Section 10.10.	 	No Recourse Against Others.	 	26
	 	 	Section 10.11.	 	Successors and Assigns.	 	26
	 	 	Section 10.12.	 	Duplicate Originals.	 	26
	 	 	Section 10.13.	 	Severability.	 	26

ii

 
 
 

CROSS-REFERENCE TABLE    

        This
Cross-Reference Table is not a part of the Indenture. 

	TIA Indenture Section
 
	 	Section

	310(a)(1)	 	7.10
	(a)(2)	 	7.10
	(a)(3)	 	N.A.
	(a)(4)	 	N.A.
	(b)	 	7.08; 7.10; 10.02
	310(a)	 	7.10
	(b)	 	7.10
	(c)	 	N.A.
	312(a)	 	2.05
	(b)	 	10.03
	(c)	 	10.03
	313(a)	 	7.06
	(b)(1)	 	N.A.
	(b)(2)	 	7.06
	(c)	 	10.02
	(d)	 	7.06
	314(a)	 	4.02; 10.02
	(b)	 	N.A.
	(c)(1)	 	10.04
	(c)(2)	 	10.04
	(c)(3)	 	N.A.
	(d)	 	N.A.
	(e)	 	10.05
	315(a)	 	7.01(b)
	(b)	 	7.05; 10.02
	(c)	 	7.01(a)
	(d)	 	7.01(c)
	(e)	 	6.10
	316(a)(last sentence)	 	10.06
	(a)(1)(A)	 	6.05
	(a)(1)(B)	 	6.04
	(a)(2)	 	N.A.
	(b)	 	6.07
	317(a)(1)	 	6.08
	(a)(2)	 	6.09
	(b)	 	2.04
	318(a)	 	10.01

N.A.
means Not Applicable. 

iii

        INDENTURE dated as of            , 20    , by and between FLEETWOOD ENTERPRISES, INC., a Delaware corporation (the
"Company"), and                        (the "Trustee").
Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Company's debt securities issued under this Indenture (the "Securities"): 

ARTICLE ONE  

 DEFINITIONS AND INCORPORATION BY REFERENCE  

Section 1.01.    Definitions.    

        "Affiliate"
means, when used with reference to a specified person, any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the
Person specified. 

        "Agent"
means any Registrar, Paying Agent or co-Registrar or agent for service of notices and demands. 

        "Authorizing
Resolution" means a resolution adopted by the Board of Directors or by an Officer or committee of Officers pursuant to Board delegation authorizing a Series of Securities. 

        "Bankruptcy
Law" means title 11 of the United States Code, as amended, or any similar federal or state law for the relief of debtors. 

        "Board
of Directors" means the Board of Directors of the Company or any authorized committee thereof. 

        "Capital
Stock" means, with respect to any Person, any and all shares, interests, participations or other equivalents (however designated) of or in such Person's capital stock or other
equity interests, and
options, rights or warrants to purchase such capital stock or other equity interests, whether now outstanding or issued after the applicable Issue Date, including, without limitation, all Preferred
Stock. 

        "Capitalized
Lease Obligations" of any Person means the obligations of such Person to pay rent or other amounts under a lease that is required to be capitalized for financial reporting
purposes in accordance with GAAP, and the amount of such obligations will be the capitalized amount thereof determined in accordance with GAAP. 

        "Company"
means the party named as such in this Indenture until a successor replaces it pursuant to the Indenture and thereafter means the successor. 

        "Currency
Agreement" of any Person means any foreign exchange contract, currency swap agreement or other similar agreement or arrangement designed to protect such Person or any of its
Subsidiaries against fluctuations in currency values. 

        "Default"
means any event, act or condition that is, or after notice or the passage of time or both would be, an Event of Default. 

        "Disqualified
Stock" means any Capital Stock that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case at the option
of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the
holder of the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the date on which the Securities mature. Notwithstanding the preceding sentence, any Capital
Stock that would constitute Disqualified Stock solely because the holders of the Capital Stock have the right to require the Company to repurchase such Capital Stock upon the occurrence of a change of
control or an asset sale shall not constitute Disqualified Stock if the terms of such Capital Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to such
provisions unless such repurchase or redemption complies with any applicable covenant in this Indenture. 

        "GAAP"
means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial Accounting Standards Board or in 

 

such
other statements by such other entity as may be approved by a significant segment of the accounting profession of the United States, as in effect from time to time. 

        "Holder"
or "Securityholder" means the person in whose name a Security is registered on the Registrar's books. 

        "Indebtedness"
means (without duplication), with respect to any specified Person, any indebtedness of such Person, whether or not contingent, (i) in respect of borrowed money;
(ii) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof); (iii) in respect of banker's acceptances;
(iv) representing Capitalized Lease Obligations; (v) representing the balance deferred and unpaid of the purchase price of any property, except any such balance that constitutes an
accrued expense or trade payable; (vi) all obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock or, with respect to any Subsidiary,
any preferred stock (but excluding, in each case, any accrued dividends);or (vii) representing any obligations of such Person under any Currency Agreement or Interest Protection Agreement, if
and to the extent any of the foregoing indebtedness (other than letters of credit and obligations under Currency Agreements or Interest Protection Agreements) would appear as a liability upon a
balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term "Indebtedness" includes all Indebtedness of others secured by a Lien on any asset of the specified Person
(whether or not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the guarantee by the specified Person of any Indebtedness of any other Person. The
amount of any Indebtedness outstanding as of any date shall be: (1) the accreted value of the Indebtedness, in the case of any Indebtedness issued with original issue discount;; (2) in
the case of any Disqualified Stock or preferred stock, the repurchase price calculated in accordance with the terms of such Disqualified Stock or preferred stock as if such Disqualified Stock or
preferred stock were repurchased on the date on which Indebtedness is required to be determined pursuant to this Indenture; provided that if such
Disqualified Stock or preferred stock is not then permitted to be repurchased, the book value of Disqualified Stock or preferred stock; (3) in the case of Indebtedness of others secured by a
Lien on any asset of the specified Person, the lesser of (A) the fair market value of such asset on the date on which Indebtedness is required to be determined pursuant to this Indenture and
(B) the amount of the Indebtedness so secured; (4) in the case of the guarantee by the specified Person of any Indebtedness of any other Person, the maximum liability to which the
specified Person may be subject upon the occurrence of the contingency giving rise to the obligation; (5) in the case of any obligations under any Currency Agreement or Interest Protection
Agreement, the net amount payable if such obligations were terminated at that time due to default by such Person (after giving effect to any contractually permitted set-off); and
(6) the principal amount of the Indebtedness, together with any interest on the Indebtedness that is more than 30 days past due, in the case of any other Indebtedness. 

        "Indenture"
means this Indenture as amended or supplemented from time to time, including pursuant to any Authorizing Resolution or supplemental indenture pertaining to any Series. 

        "Interest
Protection Agreement" of any Person means any interest rate swap agreement, interest rate collar agreement, option or futures contract or other similar agreement or arrangement
designed to
protect such Person or any of its Subsidiaries against fluctuations in interest rates with respect to Indebtedness permitted to be incurred under this Indenture. 

        "Issue
Date" means, with respect to any Series of Securities, the date on which the Securities of such Series are originally issued under this Indenture. "Lien" means, with respect to
any Property, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such Property. For purposes of this definition, a Person shall be deemed to own, subject to
a Lien, any Property which it has acquired or holds subject to the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement relating to
such Property. 

2

 

        "Officer"
means the Chairman of the Board, the President, any Vice President, the Treasurer, the Controller or the Secretary of the Company. 

        "Officers'
Certificate" means a certificate signed by two Officers or by an Officer and an Assistant Treasurer or an Assistant Secretary of the Company. 

        "Opinion
of Counsel" means a written opinion from legal counsel who is reasonably acceptable to the Trustee. The counsel may be an employee of or counsel to the Company or the Trustee. 

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

        "Preferred
Stock" of any Person means all Capital Stock of such Person which has a preference in liquidation or with respect to the payment of dividends. 

        "principal"
of a debt security means the principal of the security plus, when appropriate, the premium, if any, on the security. 

        "Property"
of any Person means all types of real, personal, tangible, intangible or mixed property owned by such Person, whether or not included in the most recent consolidated balance
sheet of such Person and its Subsidiaries under GAAP. 

        "SEC"
means the Securities and Exchange Commission or any successor agency performing the duties now assigned to it under the TIA. 

        "Securities"
means any Securities that are issued under this Indenture. 

        "Series"
means a series of Securities established under this Indenture. 

        "Subsidiary"
of any Person means any corporation or other entity of which a majority of the Capital Stock having ordinary voting power to elect a majority of the Board of Directors or
other persons performing similar functions is at the time directly or indirectly owned or controlled by such Person. 

        "TIA"
means the Trust Indenture Act of 1939, as in effect from time to time. 

        "Trustee"
means the party named as such in this Indenture until a successor replaces it pursuant to this Indenture and thereafter means the successor serving hereunder. 

        "Trust
Officer" means the Chairman of the Board, the President, any Vice President or any other officer or assistant officer of the Trustee assigned by the Trustee to administer its
corporate trust matters. 

        "United
States" means the United States of America. 

        "U.S.
government obligations" means securities which are (i) direct obligations of the United States 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 the payment of which is unconditionally guaranteed as a full faith and
credit obligation by the United States, which, in either case are not callable or redeemable at the option of the 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 obligations 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. 

3

 

Section 1.02.    Other Definitions.    

	Term
 
	 	Defined in

	"Agent Members"	 	2.15
	"Business Day"	 	10.07
	"Custodian"	 	6.01
	"Depository	 	2.15
	"Event of Default"	 	6.01
	"Legal Holiday"	 	10.07
	"Paying Agent"	 	2.03
	"Registrar"	 	2.03

Section 1.03.    Incorporation by Reference of Trust Indenture Act.    

        Whenever
this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture
have the following meanings: 

        "Commission"
means the SEC. 

        "indenture
securities" means the Securities. 

        "indenture
Securityholder" means a Securityholder. 

        "indenture
to be qualified" means this Indenture. 

        "indenture
trustee" or "institutional trustee" means the Trustee. 

        "obligor"
on the indenture securities means the Company or any other obligor on the Securities of a Series. 

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

Section 1.04.    Rules of Construction.    

        Unless
the context otherwise requires: 

	(1)
	a
term has the meaning assigned to it;

	(2)
	an
accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

	(3)
	"or"
is not exclusive;

	(4)
	words
in the singular include the plural, and in the plural include the singular; and

	(5)
	provisions
apply to successive events and transactions. 

ARTICLE TWO  

 THE SECURITIES  

Section 2.01.    Form and Dating.    

        The
aggregate principal amount of Securities that may be issued under this Indenture is unlimited. The Securities may be issued from time to time in one or more Series. Each Series shall
be created by an Authorizing Resolution or a supplemental indenture that establishes the terms of the Series, which may include the following: 

	(1)
	the
title of the Series; 

4

 

	(2)
	the
aggregate principal amount (or any limit on the aggregate principal amount) of the Series and, if any Securities of a Series are to be issued at a discount from their face amount,
the method of computing the accretion of such discount;

	(3)
	the
interest rate or method of calculation of the interest rate;

	(4)
	the
date from which interest will accrue;

	(5)
	the
record dates for interest payable on Securities of the Series;

	(6)
	the
dates when, places where and manner in which principal and interest are payable;

	(7)
	the
Registrar and Paying Agent;

	(8)
	the
terms of any mandatory (including any sinking fund requirements) or optional redemption by the Company;

	(9)
	the
terms of any redemption, repurchase or repayment at the option of Holders;

	(10)
	the
denominations in which Securities are issuable;

	(11)
	whether
Securities will be issued in registered or bearer form and the terms of any such forms of Securities;

	(12)
	whether
any Securities will be represented by a global Security and the terms of any such global Security;

	(13)
	the
currency or currencies (including any composite currency) in which principal or interest or both may be paid;

	(14)
	if
payments of principal or interest may be made in a currency other than that in which Securities are denominated, the manner for determining such payments;

	(15)
	provisions
for electronic issuance of Securities or issuance of Securities in uncertificated form;

	(16)
	any
Events of Default, covenants and/or defined terms in addition to or in lieu of, or any modification of, those set forth in this Indenture;

	(17)
	whether
and upon what terms Securities may be defeased if different from the provisions set forth in this Indenture;

	(18)
	the
form of the Securities, which, unless the Authorizing Resolution or supplemental indenture otherwise provides, shall be in the form of Exhibit A;

	(19)
	any
terms that may be required by or advisable under applicable law;

	(20)
	the
percentage of the principal amount of the Securities which is payable if the maturity of the Securities is accelerated in the case of Securities issued at a discount from their
face amount;

	(21)
	whether
any Securities will have guarantees;

	(22)
	whether
the Securities may be converted into or exercised or exchanged for debt or equity securities of the Company or third parties, and the terms of any such conversion, exercise
or exchange;

	(23)
	whether
any Securities or guarantees thereof will be secured by collateral; and

	(24)
	any
other terms in addition to or different from those contained in this Indenture. 

        All
Securities of one Series need not be issued at the same time and, unless otherwise provided, a Series may be reopened for issuances of additional Securities of such Series pursuant
to an Authorizing 

5

 

Resolution,
an Officers' Certificate or in any indenture supplemental hereto. The creation and issuance of a Series and the authentication and delivery thereof are not subject to any conditions
precedent. 

Section 2.02.    Execution and Authentication.    

        Two
Officers shall sign the Securities for the Company by manual or facsimile signature. The Company's seal shall be reproduced on the Securities. 

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

        A
Security shall not be valid until the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been
authenticated under this Indenture. 

        The
Trustee shall authenticate Securities for original issue upon receipt of an Officers' Certificate of the Company. Each Security shall be dated the date of its authentication. 

Section 2.03.    Registrar and Paying Agent.    

        The
Company shall maintain an office or agency where Securities may be presented for registration of transfer or for exchange ("Registrar"), an office or agency where Securities may be
presented for payment ("Paying Agent") and an office or agency where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Registrar shall keep
a register of the Securities and of their transfer and exchange. The Company may have one or more co-Registrars and one or more additional paying agents. The term "Paying Agent" includes
any additional paying agent. 

        The
Company shall enter into an appropriate agency agreement with any Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to
such Agent. The Company shall promptly notify the Trustee in writing of the name and address of any such Agent and the Trustee shall have the right to inspect the Securities register at all reasonable
times to obtain copies thereof, and the Trustee shall have the right to rely upon such register as to the names and addresses of the Holders and the principal amounts and certificate numbers thereof.
If the Company fails to maintain a Registrar or Paying Agent or fails to give the foregoing notice, the Trustee shall act as such. 

        The
Company initially appoints the Trustee as Registrar and Paying Agent. 

Section 2.04.    Paying Agent to Hold Money in Trust.    

        Each
Paying Agent shall hold in trust for the benefit of Securityholders and the Trustee all money held by the Paying Agent for the payment of principal of or interest on the Securities,
and shall notify the Trustee of any default by the Company in making any such payment. If the Company or a Subsidiary acts as Paying Agent, it shall segregate the money and hold it as a separate trust
fund. 

        The
Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon doing so the Paying Agent shall have no further liability for the money. 

Section 2.05.    Securityholder Lists.    

        The
Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Securityholders. If the Trustee is not the
Registrar, the Company shall furnish to the Trustee at least 5 Business Days before each semiannual interest payment date and at such other times as the Trustee may request in writing a list in such
form and as of such date as the Trustee may reasonably require of the names and addresses of Securityholders. 

6

 

Section 2.06.    Transfer and Exchange.    

        Where
a Security is presented to the Registrar or a co-Registrar with a request to register a transfer, the Registrar shall register the transfer as requested if the
requirements of Section 8-401(1) of the New York Uniform Commercial Code are met. Where Securities are presented to the Registrar or a co-Registrar with a request to
exchange them for an equal principal amount of Securities of other denominations, the Registrar shall make the exchange as requested if the same requirements are met. To permit transfers and
exchanges, the Trustee shall authenticate Securities at the Registrar's request. The Registrar need not transfer or exchange any Security selected for redemption, except the unredeemed part thereof if
the Security is redeemed in part, or transfer or exchange any Securities for a period of 15 days before a selection of Securities to be redeemed. Any exchange or transfer shall be without
charge, except that the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto except in the case of exchanges pursuant
to 2.09, 3.06, or 9.05 not involving any transfer. 

        Any
Holder of a global Security shall, by acceptance of such global Security, agree that transfers of beneficial interests in such global Security may be effected only through a book
entry system maintained by the Holder of such global Security (or its agent), and that ownership of a beneficial interest in the Security shall be required to be reflected in a book entry. 

Section 2.07.    Replacement Securities.    

        If
the Holder of a Security claims that the Security has been lost, destroyed, mutilated or wrongfully taken, the Company shall issue and, upon written request of any Officer of the
Company, the Trustee shall authenticate a replacement Security, provided in the case of a lost, destroyed or wrongfully taken Security, that the requirements of Section 8-405 of the
New York Uniform Commercial Code are met. If any such lost, destroyed, mutilated or wrongfully taken Security shall have matured or shall be about to mature, the Company may, instead of issuing a
substitute Security therefor, pay such Security without requiring (except in the case of a mutilated Security) the surrender thereof. 

        An
indemnity bond must be sufficient in the judgment of the Company and the Trustee to protect the Company, the Trustee or any Agent from any loss which any of them may suffer if a
Security is replaced, including the acquisition of such Security by a bona fide purchaser. The Company or the Trustee may charge for its expenses in replacing a Security. 

Section 2.08.    Outstanding Securities.    

        Securities
outstanding at any time are all Securities authenticated by the Trustee except for those cancelled by it and those described in this Section. A Security does not cease to be
outstanding because the Company or one of its Affiliates holds the Security. If a Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless the Trustee receives proof
satisfactory to it that the replaced Security is held by a bona fide purchaser. If the Paying Agent holds on a redemption date or maturity date money sufficient to pay Securities payable on that date,
then on and after that date such Securities cease to be outstanding and interest on them ceases to accrue. 

        Subject
to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security
shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 

Section 2.09.    Temporary Securities.    

        Until
definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially in the
form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and, upon surrender for
cancellation of the 

7

 

temporary
Security, the Company shall execute and the Trustee shall authenticate definitive Securities in exchange for temporary Securities. Until so exchanged, the temporary Securities shall in all
respects be entitled to the same benefits under this Indenture as definitive Securities authenticated and delivered hereunder. 

Section 2.10.    Cancellation.    

        The
Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any Securities surrendered to them for
registration of transfer, exchange, redemption or payment. The Trustee and no one else shall cancel and destroy, or
retain in accordance with its standard retention policy, all Securities surrendered for registration or transfer, exchange, redemption, paying or cancellation. Unless the Authorizing Resolution so
provides, the Company may not issue new Securities to replace Securities that it has previously paid or delivered to the Trustee for cancellation. 

Section 2.11.    Defaulted Interest.    

        If
the Company defaults in a payment of interest on the Securities, it shall pay the defaulted interest plus any interest payable on the defaulted interest to the persons who are
Securityholders on a subsequent special record date. The Company shall fix such special record date and a payment date which shall be reasonably satisfactory to the Trustee. At least 15 days
before such special record date, the Company shall mail to each Securityholder a notice that states the record date, the payment date and the amount of defaulted interest to be paid. On or before the
date such notice is mailed, the Company shall deposit with the Paying Agent money sufficient to pay the amount of defaulted interest to be so paid. The Company may pay defaulted interest in any other
lawful manner if, after notice given by the Company to the Trustee of the proposed payment, such manner of payment shall be deemed practicable by the Trustee. 

Section 2.12.    Treasury Securities.    

        In
determining whether the Holders of the required principal amount of Securities of a Series have concurred in any direction, waiver, consent or notice, Securities owned by the Company
or any of its Affiliates shall be considered as though they are not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction,
waiver or consent, only Securities which the Trustee actually knows are so owned shall be so considered. 

Section 2.13.    CUSIP Numbers.    

        The
Company in issuing the Securities of any Series may use a "CUSIP" number, and if so, the Trustee shall use the CUSIP number in notices of redemption or exchange as a convenience to
Holders of such Securities; provided that no representation is hereby deemed to be made by the Trustee as to the correctness or accuracy of any such CUSIP number printed in the notice or on such
Securities, and that reliance may be placed only on the other identification numbers printed on such Securities. The Company shall promptly notify the Trustee of any change in any CUSIP number. 

Section 2.14.    Deposit of Moneys.    

        Prior
to 11:00 a.m. New York City time on each interest payment date and maturity date with respect to each Series of Securities, the Company shall have deposited with the Paying
Agent in immediately available funds money sufficient to make cash payments due on such interest payment date or maturity date, as the case may be, in a timely manner which permits the Paying Agent to
remit payment to the Holders on such interest payment date or maturity date, as the case may be. 

Section 2.15.    Book-Entry Provisions for Global Security.    

        (a)   Any
global Security of a Series initially shall (i) be registered in the name of the depository who shall be identified in the Authorizing Resolution or
supplemental indenture relating to such 

8

 

Securities
(the "Depository") or the nominee of such Depository, (ii) be delivered to the Trustee as custodian for such Depository and (iii) bear any required legends. Members of, or
participants in, the Depository ("Agent Members") shall have no rights under this Indenture with respect to any global Security held on their behalf by the Depository, or the Trustee as its custodian,
or under the global Security, and the Depository may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the global Security for all purposes
whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or
other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any
Security. 

        (b)   Transfers
of any global Security shall be limited to transfers in whole, but not in part, to the Depository, its successors or their respective nominees. Interests of
beneficial owners in the global Security may be transferred or exchanged for definitive Securities in accordance with the rules and procedures of the Depository. In addition, definitive Securities
shall be transferred to all beneficial owners in exchange for their beneficial interests in a global Security if (i) the Depository notifies the Company that it is unwilling or unable to
continue as Depository for the global Security and a successor depository is not appointed by the Company within 90 days of such notice, (ii) the Company, at its option, notifies the
Trustee in writing that the Company elects to cause the issuance of definitive Securities under this Indenture or (iii) an Event of Default has occurred and is continuing and the Registrar has
received a request from the Depository to issue definitive Securities. 

        (c)   In
connection with any transfer or exchange of a portion of the beneficial interest in any global Security to beneficial owners pursuant to paragraph (b), the
Registrar shall (if one or more definitive Securities are to be issued) reflect on its books and records the date and a decrease in the principal amount of the global Security in an amount equal to
the principal amount of the beneficial interest in the global Security to be transferred, and the Company shall execute, and the Trustee shall authenticate and deliver, one or more definitive
Securities of like tenor and amount. 

        (d)   In
connection with the transfer of an entire global Security to beneficial owners pursuant to paragraph (b), the global Security shall be deemed to be surrendered
to the Trustee for cancellation, and the Company shall execute, and the Trustee shall authenticate and deliver, to each beneficial owner identified by the Depository in exchange for its beneficial
interest in the global Security, an equal aggregate principal amount of definitive Securities of authorized denominations. 

        (e)   The
Holder of any global Security may grant proxies and otherwise authorize any person, including Agent Members and persons that may hold interests through Agent
Members, to take any action which a Holder is entitled to take under this Indenture or the Securities of such Series. 

ARTICLE THREE  

 REDEMPTION  

Section 3.01.    Notices to Trustee.    

        Securities
of a Series that are redeemable prior to maturity shall be redeemable in accordance with their terms and, unless the Authorizing Resolution or supplemental indenture provides
otherwise, in accordance with this Article. 

        If
the Company wants to redeem Securities pursuant to Paragraph 5 of the Securities, it shall notify the Trustee in writing of the Redemption Date and the principal amount of
Securities to be redeemed. Any such notice may be cancelled at any time prior to notice of such redemption being mailed to Holders. Any such cancelled notice shall be void and of no effect. If the
Company wants to credit any Securities previously redeemed, retired or acquired against any redemption pursuant to 

9

 

Paragraph 6
of the Securities, it shall notify the Trustee of the amount of the credit and it shall deliver any Securities not previously delivered to the Trustee for cancellation with such
notice. 

        The
Company shall give each notice provided for in this Section 3.01 at least 30 days before the notice of any such redemption is to be mailed to Holders (unless a shorter
notice shall be satisfactory to the Trustee). 

Section 3.02.    Selection of Securities to be Redeemed.    

        If
fewer than all of the Securities of a Series are to be redeemed, the Trustee shall select the Securities to be redeemed by a method the Trustee considers fair and appropriate. The
Trustee shall make the selection from Securities outstanding not previously called for redemption and shall promptly notify the Company of the serial numbers or other identifying attributes of the
Securities so selected. The Trustee may select for redemption portions of the principal of Securities that have denominations larger than the minimum denomination for the Series. Securities and
portions of them it selects shall be in amounts equal to the minimum denomination for the Series or an integral multiple thereof. Provisions of this Indenture that apply to Securities called for
redemption also apply to portions of Securities called for redemption. 

Section 3.03.    Notice of Redemption.    

        At
least 30 days but not more than 60 days before a redemption date, the Company shall mail a notice of redemption by first-class mail, postage prepaid, to each Holder of
Securities to be redeemed. The notice shall identify the Securities to be redeemed and shall state: (1) the redemption date; (2) the redemption price; (3) the name and address of
the Paying Agent; (4) that Securities called for redemption must be surrendered to the Paying Agent to collect the redemption price; (5) that interest on Securities called for redemption
ceases to accrue on and after the redemption date; and (6) that the Securities are being redeemed pursuant to the mandatory redemption or the optional redemption provisions, as applicable. At
the Company's request, the Trustee shall give the notice of redemption in the Company's name and at its expense; provided, however, that the Company shall deliver to the Trustee at least
15 days prior to the date on which notice of redemption is to be mailed or such shorter period as may be satisfactory to the Trustee, an Officers' Certificate requesting that the Trustee give
such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

Section 3.04.    Effect of Notice of Redemption.    

        Once
notice of redemption is mailed, Securities called for redemption become due and payable on the redemption date and at the redemption price as set forth in the notice of redemption.
Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price, plus accrued interest to the redemption date. 

Section 3.05.    Deposit of Redemption Price.    

        On
or before the redemption date, the Company shall deposit with the Paying Agent immediately available funds sufficient to pay the redemption price of and accrued interest on all
Securities to be redeemed on that date. 

Section 3.06.    Securities Redeemed in Part.    

        Upon
surrender of a Security that is redeemed in part, the Company shall execute and the Trustee shall authenticate for each Holder a new Security equal in principal amount to the
unredeemed portion of the Security surrendered. 

10

 

ARTICLE FOUR  

 COVENANTS  

Section 4.01.    Payment of Securities.    

        The
Company shall pay the principal of and interest on a Series on the dates and in the manner provided in the Securities of the Series. An installment of principal or interest shall be
considered paid on the date it is due if the Paying Agent holds on that date money designated for and sufficient to pay the installment. 

        The
Company shall pay interest on overdue principal at the rate borne by the Series; it shall pay interest on overdue installments of interest at the same rate. 

Section 4.02.    Maintenance of Office or Agency.    

        The
Company shall maintain the office or agency required under Section 2.03. The Company shall give prior written notice to the Trustee of the location, and any change in the
location, of such office or
agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and
demands may be made or served at the address of the Trustee. 

Section 4.03.    Compliance Certificate.    

        The
Company shall deliver to the Trustee within 120 days after the end of each fiscal year of the Company an Officers' Certificate stating whether or not the signers know of any
Default by the Company in performing any of its obligations under this Indenture. If they do know of such a Default, the certificate shall describe the Default. 

Section 4.04.    Maintenance of Corporate Existence.    

        The
Company will: 

        (a)   cause
to be done all things necessary to preserve and keep in full force and effect the corporate existence of the Company; provided, however, that nothing in this
subsection (a) shall prevent a consolidation or merger of the Company not prohibited by the provisions of Article Five or any other provision or the Authorizing Resolution or supplemental
indenture pertaining to a Series. 

ARTICLE FIVE  

 SUCCESSOR CORPORATION  

Section 5.01.    When Company May Merge, etc.    

        The
Company shall not consolidate with or merge with or into, any other corporation, or transfer all or substantially all of its assets to, any entity unless permitted by law and unless
(1) the resulting, surviving or transferee entity (if other than the Company), which shall be a corporation organized and existing under the laws of the United States or a State thereof and
shall assume by supplemental indenture, in a form reasonably satisfactory to the Trustee, all of the obligations of the Company under the Securities and this Indenture and (2) immediately after
giving effect to, and as a result of, such transaction, no Default or Event of Default shall have occurred and be continuing. Thereafter, in the event that the Company is not the continuing
corporation, such successor corporation or corporations shall succeed to and be substituted for the Company with the same effect as if it had been named herein as the "Company" and all such
obligations of the predecessor corporation shall terminate. The Company shall deliver to the Trustee prior to the consummation of the proposed transaction an Officers' Certificate to the foregoing
effect and an Opinion of Counsel stating that the proposed transaction and such supplemental indenture comply with this Indenture. To the extent that an Authorizing Resolution or supplemental
indenture pertaining to any Series provides for different 

11

 

provisions
relating to the subject matter of this Article Five, the provisions in such Authorizing Resolution or supplemental indenture shall govern for purposes of such Series. 

ARTICLE SIX  

 DEFAULTS AND REMEDIES  

Section 6.01.    Events of Default.    

        An
"Event of Default" on a Series occurs if, voluntarily or involuntarily, whether by operation of law or otherwise, any of the following occurs: 

	(1)
	the
failure by the Company to pay interest on any Security of such Series when the same becomes due and payable and the continuance of any such failure for a period of 30 days;

	(2)
	the
failure by the Company to pay the principal or premium of any Security of such Series when the same becomes due and payable at maturity, upon acceleration or otherwise;

	(3)
	the
failure by the Company to comply with any of its agreements or covenants in, or provisions of, the Securities of such Series or this Indenture (as they relate thereto) and such
failure continues for the period and after the notice specified below (except in the case of a default with respect to Article Five (or any replacement provisions as contemplated by Article Five),
which will constitute Events of Default with notice but without passage of time);

	(4)
	the
Company pursuant to or within the meaning of any Bankruptcy Law:

	(A)
	commences
a voluntary case,

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

	(C)
	consents
to the appointment of a Custodian of it or for all or substantially all of its property, or

	(D)
	makes
a general assignment for the benefit of its creditors; or

	(5)
	a
court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

	(A)
	is
for relief against the Company as debtor in an involuntary case,

	(B)
	appoints
a Custodian of the Company or a Custodian for all or substantially all of the property of the Company, or

	(C)
	orders
the liquidation of the Company, 

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

        A
Default as described in sub-clause (3) above will not be deemed an Event of Default until the Trustee notifies the Company, or the Holders of at least
25 percent in principal amount of the then outstanding Securities of the applicable Series notify the Company and the Trustee, of the Default and (except in the case of a default with respect
to Article Five (or any replacement provisions as contemplated by Article Five)) the Company does not cure the Default within 60 days after receipt of the notice. The notice must specify the
Default, demand that it be remedied and state that the notice is a "Notice of Default." If such a Default is cured within such time period, it ceases. The term "Custodian" means any receiver, trustee,
assignee, liquidator, custodian or similar official under any Bankruptcy Law. 

Section 6.02.    Acceleration.    

        If
an Event of Default (other than an Event of Default with respect to the Company resulting from sub-clauses (4) or (5) above) shall have occurred and be
continuing under the Indenture, the 

12

 

Trustee
by notice to the Company, or the Holders of at least 25 percent in principal amount of the Securities of the applicable Series then outstanding by notice to the Company and the Trustee,
may declare all Securities of such Series to be due and payable immediately. Upon such declaration of acceleration, the amounts due and payable on the Securities of such Series will be due and payable
immediately. If an Event of Default with respect to the Company specified in sub-clauses (4) or (5) above occurs, all amounts due and payable on the Securities of such Series
will ipso facto become and be immediately due and payable without any declaration, notice or other act on the part of the Trustee and the Company or any Holder. Any declaration of acceleration with
respect to the Securities of any Series may be rescinded and annulled by the Holders of a majority in principal amount of the outstanding Securities of such Series by written notice to the Trustee,
except a continuing Default or Event of Default in the payment of principal of or interest on the Securities of such Series, if (i) the rescission would not conflict with any judgment or decree
of a court of competent jurisdiction and (ii) all existing Events of Default have been cured or waived except nonpayment of principal of or interest on the Securities of such Series that has
become due solely by such declaration of acceleration. 

        No
such rescission shall extend to or shall affect any subsequent Event of Default, or shall impair any right or power consequent thereon. 

Section 6.03.    Other Remedies.    

        If
an Event of Default on a Series occurs and is continuing, the Trustee may pursue any available remedy by proceeding at law or in equity to collect the payment of principal of or
interest on the Series or to enforce the performance of any provision in the Securities or this Indenture applicable to the Series. 

        The
Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any
Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is
exclusive of any other remedy. All available remedies are cumulative. 

Section 6.04.    Waiver of Existing Defaults.    

        Subject
to Section 9.02, the Holders of a majority in principal amount of the outstanding Securities of a Series on behalf of all the Holders of the Series by notice to the
Trustee may waive an existing Default or Event of Default on such Series and its consequences hereunder. Upon any such waiver, any such Default shall cease to exist, and any such Event of Default
shall be deemed to have been cured for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. 

Section 6.05.    Control by Majority.    

        The
Holders of a majority in principal amount of the outstanding Securities of a Series may direct the time, method and place of conducting any proceeding for any remedy available to the
Trustee or exercising any trust or power conferred on it with respect to such Series. The Trustee, however, may refuse to follow any direction (i) that conflicts with law or this Indenture,
(ii) that, subject to Section 7.01, the Trustee determines is unduly prejudicial to the rights of other Securityholders or (iii) that would involve the Trustee in personal
liability. 

Section 6.06.    Limitation on Suits.    

        A
Securityholder of a Series may not pursue any remedy with respect to this Indenture or the Series unless: 

	(1)
	the
Holder gives to the Trustee written notice of a continuing Event of Default on the Series; 

13

 

	(2)
	the
Holders of at least a majority in principal amount of the outstanding Securities of the Series make a written request to the Trustee to pursue the remedy;

	(3)
	such
Holder or Holders offer to the Trustee indemnity satisfactory to the Trustee against any loss, liability or expense;

	(4)
	the
Trustee does not comply with the request within 60 days after receipt of the request and the offer of indemnity; and

	(5)
	no
written request inconsistent with such written request shall have been given to the Trustee pursuant to this Section 6.06. 

        A
Securityholder may not use this Indenture to prejudice the rights of another Securityholder or to obtain a preference or priority over another Securityholder. 

Section 6.07.    Rights of Holders to Receive Payment.    

        Notwithstanding
any other provision of this Indenture, the right of any Holder to receive payment of principal of and interest on the Security, on or after the respective due dates
expressed in the Security, or to bring suit for the enforcement of any such payment on or after such respective dates, is absolute and unconditional and shall not be impaired or affected without the
consent of the Holder. 

Section 6.08.    Collection Suit by Trustee.    

        If
an Event of Default in payment of interest or principal specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own name
and as trustee of an express trust against the Company for the whole amount of principal and interest remaining unpaid. 

Section 6.09.    Trustee May File Proofs of Claim.    

        The
Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the
reasonable compensation, expenses, disbursements, and advances of the Trustee, its agents and counsel) and the Securityholders allowed in any judicial proceedings relative to the Company, its
creditors or its property, and unless prohibited by applicable law or regulation, may vote on behalf of the Holders in any election of a Custodian, and shall be entitled and empowered to collect and
receive any moneys or other property payable or deliverable on any such claims and to distribute the same and any Custodian in any such judicial proceeding is hereby authorized by each Securityholder
to make such payments to the Trustee. Nothing herein shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of any Securityholder any plan of
reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder or to authorize the Trustee to vote in respect of the claim of any Securityholder except as
aforesaid for the election of the Custodian. 

Section 6.10.    Priorities.    

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

        First:
to the Trustee for amounts due under Section 7.07; 

14

  

        Second: to Securityholders of the Series for amounts due and unpaid on the Series for principal and interest, ratably, without preference or priority of any kind, according to the
amounts due and payable on the Series for principal and interest, respectively; and 

        Third:
to the Company as its interests may appear. 

        The
Trustee may fix a record date and payment date for any payment to Securityholders pursuant to this Section 6.10. 

Section 6.11.    Undertaking for Costs.    

        In
any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion
may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys'
fees, against any party litigant in the suit, having the due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the
Trustee, a suit by a Holder pursuant to Section 6.07 or a suit by Holders of more than 10% in principal amount of the Series. 

ARTICLE SEVEN  

 TRUSTEE  

Section 7.01.    Duties of Trustee.    

        (a)   If
an Event of Default has occurred and is continuing, the Trustee shall, prior to the receipt of directions from the Holders of a majority in principal amount of the
Securities, exercise its rights and
powers and use the same degree of care and skill in their exercise as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 

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

        (1)   The
Trustee need perform only those duties that are specifically set forth in this Indenture and no others and no implied covenants or obligations shall be read into
this Indenture against the Trustee. 

        (2)   In
the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. The Trustee, however, shall examine the certificates and opinions to determine whether or not
they conform to the requirements of this Indenture but need not confirm or investigate the accuracy of mathematical calculations or other facts or matters stated therein. 

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

        (1)   This
paragraph does not limit the effect of paragraph (b) of this Section. 

        (2)   The
Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer, unless it is proved that the Trustee was negligent in ascertaining the
pertinent facts. 

        (3)   The
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to
Section 6.05 or any other direction of the Holders permitted hereunder. 

        (d)   Every
provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section. 

15

 

        (e)   The
Trustee may refuse to perform any duty or exercise any right or power unless it receives indemnity satisfactory to it against any loss, liability or expense. 

        (f)    The
Trustee shall not be liable for interest on any money received by it except as the Trustee may agree with the Company. Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law. 

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

Section 7.02.    Rights of Trustee.    

        Subject
to Section 7.01: 

        (a)   The
Trustee may rely and shall be protected in acting or refraining from acting on any document, resolution, certificate, instrument, report or direction believed by it
to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document, resolution, certificate, instrument, report or
direction. 

        (b)   Before
the Trustee acts or refrains from acting, it may require an Officers' Certificate or an Opinion of Counsel or both, which shall conform to Sections 10.04 and
10.05 hereof and containing such other statements as the Trustee reasonably deems necessary to perform its duties hereunder. The Trustee shall not be liable for any action it takes or omits to take in
good faith in reliance on the Officers' Certificate, Opinion of Counsel or any other direction of the Company permitted hereunder. 

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

        (d)   The
Trustee shall not be liable for any action taken, suffered 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. 

        (e)   The
Trustee may consult with counsel, and the written advice of such counsel or any Opinion of Counsel as to matters of law shall be full and complete authorization and
protection in respect of any
action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 

        (f)    Unless
otherwise specifically provided in the Indenture, any demand, request, direction or notice from the Company shall be sufficient if signed by an Officer of the
Company. 

        (g)   For
all purposes under this Indenture, the Trustee shall not be deemed to have notice or knowledge of any Event of Default (other than under Section 6.01(1) or
6.01(2)) unless a Trust Officer assigned to and working in the Trustee's corporate trust office has actual knowledge thereof or unless written notice of any Event of Default is received by the Trustee
at its address specified in Section 10.02 hereof and such notice references the Securities generally, the Company or this Indenture. 

Section 7.03.    Individual Rights of Trustee.    

        The
Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or its affiliates with the same rights it would
have if it were not Trustee. Any Agent may do the same with like rights. The Trustee, however, must comply with Sections 7.10 and 7.11. 

16

 

Section 7.04.    Trustee's Disclaimer.    

        The
Trustee makes no representation as to the validity or adequacy of this Indenture, the Securities or of any prospectus used to sell the Securities; it shall not be accountable for the
Company's use of the proceeds from the Securities; it shall not be accountable for any money paid to the Company, or upon the Company's direction, if made under and in accordance with any provision of
this Indenture; it shall not be responsible for the use or application of any money received by any Paying Agent other than the Trustee; and it shall not be responsible for any statement of the
Company in this Indenture or in the Securities other than its certificate of authentication. 

Section 7.05.    Notice of Defaults.    

        If
a Default on a Series occurs and is continuing and if it is known to the Trustee, the Trustee shall mail to each Securityholder of the Series notice of the Default (which shall
specify any uncured Default
known to it) within 90 days after it occurs. Except in the case of a default in payment of principal of or interest on a Series, the Trustee may withhold the notice if and so long as the board
of directors of the Trustee, the executive or any trust committee of such directors and/or responsible officers of the Trustee in good faith determine(s) that withholding the notice is in the
interests of Holders of the Series. 

Section 7.06.    Reports by Trustee to Holders.    

        Within
60 days after each May 15 beginning with the May 15 following the date of this Indenture, the Trustee shall mail to each Securityholder a brief report dated
as of such May 15 that complies with TIA (S) 313(a) (but if no event described in TIA (S) 313(2) has occurred within the twelve months preceding the reporting date no report need
be transmitted). The Trustee also shall comply with TIA (S)313(b). 

        A
copy of each report at the time of its mailing to Securityholders shall be delivered to the Company and filed by the Trustee with the SEC and each national securities exchange on which
the Securities are listed. The Company agrees to notify the Trustee of each national securities exchange on which the Securities are listed. 

Section 7.07.    Compensation and Indemnity.    

        The
Company shall pay to the Trustee or predecessor trustee from time to time reasonable compensation for their respective services subject to any written agreement between the Trustee
and the Company. The Company shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred by it. Such expenses shall include the reasonable
compensation and expenses of the Trustee's agents and counsel. The Company shall indemnify the Trustee and each predecessor trustee, its officers, directors, employees and agents and hold it harmless
against any loss, liability or expense incurred or made by or on behalf of it in connection with the administration of this Indenture or the trust hereunder and its duties hereunder including the
costs and expenses of defending itself against or investigating any claim in the premises. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. The Company need
not reimburse any expense or indemnify against any loss or liability incurred by the Trustee through the Trustee's, or its officers', directors', employees' or agents' negligence or bad faith. 

        To
ensure the Company's payment obligations in this Section, the Trustee shall have a claim prior to the Securities on all money or property held or collected by the Trustee, except that
held in trust to pay principal of or interest on particular Securities. When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 6.01 or
in connection with Article 6 hereof, the expenses (including the reasonable fees and expenses of its counsel) and the compensation for services in connection therewith are to constitute
expenses of administration under any bankruptcy law. 

17

 

Section 7.08.    Replacement of Trustee.    

        The
Trustee may resign by so notifying the Company. The Holders of a majority in principal amount of the outstanding Securities may remove the Trustee by so notifying the removed Trustee
in writing and may appoint a successor trustee with the Company's consent. Such resignation or removal shall not take effect until the appointment by the Securityholders or the Company as hereinafter
provided of a successor trustee and the acceptance of such appointment by such successor trustee. The Company may remove the Trustee and any Securityholder may petition any court of competent
jurisdiction for the removal of the Trustee and the appointment of a successor trustee for any or no reason, including if: 

	(1)
	the
Trustee fails to comply with Section 7.10 after written request by the Company or any bona fide Securityholder who has been a Securityholder for at least six months;

	(2)
	the
Trustee is adjudged a bankrupt or an insolvent;

	(3)
	a
receiver or other public officer takes charge of the Trustee or its property; or

	(4)
	the
Trustee becomes incapable of acting. 

        If
the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a successor trustee. If a successor trustee does
not take office within 45 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or any Holder may petition any court of competent jurisdiction for the
appointment of a successor trustee. A
successor trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Immediately after that, the retiring Trustee shall transfer all property held by it
as Trustee to the successor trustee, the resignation or removal of the retiring Trustee shall become effective, and the successor trustee shall have all the rights, powers and duties of the Trustee
under this Indenture. A successor trustee shall mail notice of its succession to each Securityholder. 

Section 7.09.    Successor Trustee by Merger, etc.    

        If
the Trustee consolidates with, merges with or into or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor
corporation without any further act shall be the successor trustee. 

Section 7.10.    Eligibility; Disqualification.    

        This
Indenture shall always have a Trustee who satisfies the requirements of TIA (S) 310(a)(1). The Trustee shall have a combined capital and surplus of at least $10,000,000 as
set forth in its most recent published annual report of condition. The Trustee shall comply with TIA (S)310(b). 

Section 7.11.    Preferential Collection of Claims Against Company.    

        The
Trustee shall comply with TIA (S)311(a), excluding any creditor relationship listed in TIA (S)311(b). A Trustee who has resigned or been removed shall be subject to TIA (S)311(a) to
the extent indicated therein. 

ARTICLE EIGHT  

 DISCHARGE OF INDENTURE  

Section 8.01.    Defeasance upon Deposit of Moneys or U.S. Government
Obligations.    

        (a)   The
Company may, at its option and at any time, elect to have either paragraph (b) or paragraph (c) below be applied to the outstanding Securities of any
Series upon compliance with the applicable conditions set forth in paragraph (d). 

18

 

        (b)   Upon
the Company's exercise under paragraph (a) of the option applicable to this paragraph (b), the Company shall be deemed to have been released and
discharged from its obligations with respect to the outstanding Securities of a Series on the date the applicable conditions set forth below are satisfied (hereinafter, "Legal Defeasance"). For this
purpose, such Legal Defeasance means that the Company shall be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Securities of a Series, which shall thereafter
be deemed to be "outstanding" only for the purposes of the Sections and matters under this Indenture referred to in (i) and (ii) below, and to have satisfied all its other obligations
under such Securities and this Indenture insofar as such Securities are concerned, except for the following which shall survive until otherwise terminated or discharged hereunder: (i) the
rights of Holders of outstanding Securities of a Series to receive solely from the trust fund described in paragraph (d) below and as more fully set forth in such paragraph, payments in respect
of the principal of and interest on such Securities when such payments are due and (ii) obligations listed in Section 8.02, subject to compliance with this Section 8.01. The
Company may exercise its option under this paragraph (b) notwithstanding the prior exercise of its option under paragraph (c) below with respect to such Securities. 

        (c)   Upon
the Company's exercise under paragraph (a) of the option applicable to this paragraph (c), the Company shall be released and discharged from the
obligations under any covenant contained in Article Four (other than Sections 4.01, 4.02 or 4.04), clause (2) of Section 5.01 and any other covenant contained in the Authorizing
Resolution or supplemental indenture relating to such Series (except to the extent provided for therein), on and after the date the conditions set forth below are satisfied (hereinafter, "Covenant
Defeasance"), and the Securities of such Series shall thereafter be deemed to be not "outstanding" for the purpose of any direction, waiver, consent or declaration or act of Holders (and the
consequences of any thereof) in connection with such covenants, but shall continue to be deemed "outstanding" for all other purposes hereunder. For this purpose, such Covenant Defeasance means that,
with respect to the outstanding Securities of a Series, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant,
whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other
document and such omission to comply shall not constitute a Default or an Event of Default under Section 6.01(3), but, except as specified above, the remainder of this Indenture and such
Securities shall be unaffected thereby. 

        (d)   The
following shall be the conditions to application of either paragraph (b) or paragraph (c) above to the outstanding Securities of the applicable Series: 

        (1)   The
Company shall have irrevocably deposited in trust with the Trustee, pursuant to an irrevocable trust and security agreement in form and substance reasonably
satisfactory to the Trustee, money in U.S. dollars or U.S. government obligations or a combination thereof in such amounts and at such times as are sufficient, in the opinion of a nationally
recognized firm of independent public accountants, to pay the principal of and interest on the outstanding Securities of such Series to maturity or redemption; provided, however, that the Trustee (or
other qualifying trustee) shall have received an irrevocable written order from the Company instructing the Trustee (or other qualifying trustee) to apply such money or the proceeds of such U.S.
government obligations to said payments with respect to the Securities of such Series to maturity or redemption; 

        (2)   No
Default or Event of Default shall have occurred and be continuing on the date of such deposit; 

19

 

        (3)   Such
deposit will not result in a Default under this Indenture or a breach or violation of, or constitute a default under, any other material instrument or agreement to
which the Company or any of any of their Subsidiaries is a party or by which it or any of their property is bound; 

        (4)(i) In
the event the Company elects paragraph (b) hereof, the Company shall deliver to the Trustee an Opinion of Counsel in the United States, in form and
substance reasonably satisfactory to the Trustee, to the effect that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since
the Issue Date pertaining to such Series, there has been a change in the applicable federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall state
that, or (ii) in the event the Company elects paragraph (c) hereof, the Company shall deliver to the Trustee an Opinion of Counsel in the United States, in form and substance reasonably
satisfactory to the Trustee, to the effect that, in the case of clauses (i) and (ii), Holders of the Securities of such Series will not recognize income, gain or loss for federal income tax
purposes as a result of such deposit and the defeasance contemplated hereby and will be subject to federal income tax in the same amounts and in the same manner and at the same times as would have
been the case if such deposit and defeasance had not occurred; 

        (5)   The
Company shall have delivered to the Trustee an Officers' Certificate, stating that the deposit under clause (1) was not made by the Company with the intent of
preferring the Holders of the Securities of such Series over any other creditors of the Company or with the intent of defeating, hindering, delaying or defrauding any other creditors of the Company or
others; 

        (6)   The
Company shall have delivered to the Trustee an Opinion of Counsel, subject to customary qualifications, to the effect that after the 91st day following the deposit,
no trust funds will be subject to the effect of any applicable bankruptcy, insolvency, reorganization or similar laws affecting creditors'
rights generally or if the Company elects paragraph (c) hereof, such trust funds will be subject to a first priority lien in favor of the Trustee for the benefit of the Holders of Securities;
and 

        (7)   The
Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, each stating that all conditions precedent specified herein relating to the
defeasance contemplated by this Section 8.01 have been complied with. In the event all or any portion of the Securities of a Series are to be redeemed through such irrevocable trust, the
Company must make arrangements satisfactory to the Trustee, at the time of such deposit, for the giving of the notice of such redemption or redemptions by the Trustee in the name and at the expense of
the Company. 

        (e)   In
addition to the Company's rights above under this Section 8.01, the Company may terminate all of its obligations under this Indenture with respect to a Series
(subject to Section 8.02), when: 

        (1)   Either
(a) all Securities of such Series that have been previously authenticated (except lost, stolen or destroyed Securities that have been replaced or paid and
Securities for whose payment money has previously been deposited in trust or segregated and held in trust by the Company and is thereafter repaid to the Company or discharged from the trust) have been
delivered to the Trustee for cancellation; or (2) all Securities of such Series that have not been previously delivered to the Trustee for cancellation (A) have become due and payable or
(B) will become due and payable at their maturity within one year or (C) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of
a notice of redemption by the Trustee, and the Company has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash 

20

 

in
U.S. dollars, non-callable U.S. government obligations, or a combination thereof, in such amounts as will be sufficient without consideration of any reinvestment of interest, to pay and
discharge the entire Indebtedness on the Securities not previously delivered to the Trustee for cancellation for principal, premium, if any, and interest on the Securities to the date of deposit, in
the case of Securities that have become due and payable, or to the stated maturity or redemption date, as the case may be; 

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

        (3)   The
Company has delivered irrevocable instructions to the Trustee to apply the deposited money toward the payment of the Securities at maturity or redemption, as the
case may be; and 

        (4)   The
Company has delivered to the Trustee an Officers' Certificate and an Opinion of Counsel, stating that all conditions precedent specified herein relating to the
satisfaction and discharge of this Indenture have been complied with. 

Section 8.02.    Survival of the Company's Obligations.    

        Notwithstanding
the satisfaction and discharge of the Indenture under Section 8.01, the Company's obligations in paragraph 9 of the Securities and Sections 2.03 through
2.07, 4.01, 7.07, 7.08, 8.04 and 8.05, however, shall survive until the Securities of an applicable Series are no longer outstanding. Thereafter, the Company's obligations in paragraph 9 of the
Securities of such Series and Sections 7.07, 8.04 and 8.05 shall survive (as they relate to such Series). 

Section 8.03.    Application of Trust Money.    

        The
Trustee shall hold in trust money or U.S. government obligations deposited with it pursuant to Section 8.01. It shall apply the deposited money and the money from U.S.
government obligations in accordance with this Indenture to the payment of principal of and interest on the Securities of the defeased Series. 

Section 8.04.    Repayment to the Company.    

        The
Trustee and the Paying Agent shall promptly pay to the Company upon request any excess money or securities held by them at any time. The Trustee and the Paying Agent shall pay to the
Company upon request any money held by them for the payment of principal or interest that remains unclaimed for two years, provided, however, that the Trustee or such Paying Agent, before being
required to make any such repayment, may at the expense of the Company cause to be published once in a newspaper of general circulation in the City of New York or mail to each such Holder notice that
such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication or mailing, any unclaimed balance of such money
then remaining will be repaid to the Company. After payment to the Company, Securityholders entitled to the money must look to the Company for payment as general creditors unless applicable abandoned
property law designates another person and all liability of the Trustee or such Paying Agent with respect to such money shall cease. 

Section 8.05.    Reinstatement.    

        If
the Trustee is unable to apply any money or U.S. government obligations in accordance with Section 8.01 by reason of any legal proceeding or by reason of any order or judgment
of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company's obligations under this Indenture and the Securities relating to the Series shall
be revived and reinstated as though no deposit had occurred pursuant to Section 8.01 until such time as the Trustee is permitted to apply all such money or U.S. government obligations in
accordance with Section 8.01; provided, 

21

 

however,
that (a) if the Company has made any payment of interest on or principal of any Securities of the Series because of the reinstatement of their obligations, the Company shall be
subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S. government obligations held by the Trustee and (b) unless otherwise required by any
legal proceeding or any order or judgment of any court or governmental authority, the Trustee shall return all such money or U.S. government obligations to the Company promptly after receiving a
written request therefor at any time, if such reinstatement of the Company's obligations has occurred and continues to be in effect. 

ARTICLE NINE  

 AMENDMENTS, SUPPLEMENTS AND WAIVERS  

Section 9.01.    Without Consent of Holders.    

        The
Company and the Trustee may amend or supplement this Indenture or the Securities of a Series without notice to or consent of any Securityholder of such Series to: 

	(1)
	cure
any ambiguity, omission, defect or inconsistency;

	(2)
	comply
with Article Five;

	(3)
	provide
that specific provisions of this Indenture shall not apply to a Series not previously issued;

	(4)
	create
a Series and establish its terms (or to provide for the issuance of additional Securities of any Series to the extent provided, in accordance with the provisions set forth in
an Authorizing Resolution or supplemental indenture pertaining to any Series);

	(5)
	provide
for uncertificated Securities in addition to or in place of certificated Securities;

	(6)
	make
any change that would provide any additional rights or benefits to the Holders of Securities or that does not adversely affect the rights under this Indenture of any such Holder;

	(7)
	evidence
and provide for the acceptance of an appointment of a successor trustee;

	(8)
	add
guarantees or collateral security with respect to the Securities; and

	(9)
	comply
with the requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA. 

        After
an amendment under this Section 9.01 becomes effective, the Company shall mail notice of such amendment to the Securityholders. 

Section 9.02.    With Consent of Holders.    

        The
Company and the Trustee may amend or supplement this Indenture or the Securities of a Series without notice to any Securityholder of such Series but with the written consent of the
Holders of at least a majority in principal amount of the outstanding Securities of each such Series affected by the amendment. Each such Series shall vote as a separate class. The Holders of a
majority in principal amount of the outstanding Securities of any Series may waive compliance by the Company with any provision of the Securities of such Series or of this Indenture relating to such
Series without notice to any Securityholder. Without the consent of each Securityholder of a Series affected, however, an amendment, supplement or waiver, including a waiver pursuant to
Section 6.04, may not: 

	(1)
	reduce
the amount of Securities of such Series whose Holders must consent to an amendment, supplement or waiver;

	(2)
	reduce
the rate of or change the time for payment of interest, including defaulted interest, on any Security; 

22

 

	(3)
	reduce
the principal of or change the fixed maturity of any Security or alter the provisions (including related definitions) with respect to redemption of Securities pursuant to
Article Three hereof or with respect to any obligations on the part of the Company to offer to purchase or to redeem Securities of a Series pursuant to the Authorizing Resolution or supplemental
indenture pertaining to such Series;

	(4)
	modify
the ranking or priority of the Securities of any Series;

	(5)
	make
any change in Sections 6.04, 6.07 or this 9.02;

	(6)
	waive
a continuing Default or Event of Default in the payment of the principal of or interest on any Security; or

	(7)
	make
any Security payable at a place or in money other than that stated in the Security, or impair the right of any Securityholder to bring suit as permitted by Section 6.07. 

        An
amendment of a provision included solely for the benefit of one or more Series does not affect the interests of Securityholders of any other Series. 

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

Section 9.03.    Compliance with Trust Indenture Act    

        Every
amendment to or supplement of this Indenture or the Securities shall comply with the TIA as then in effect. 

Section 9.04.    Revocation and Effect of Consents.    

        A
consent to an amendment, supplement or waiver by a Holder shall bind the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the
consenting Holder's Security, even if notation of the consent is not made on any Security. Subject to the following paragraph, any such Holder or subsequent Holder, however, may revoke the consent as
to his Security or portion of a Security. Such revocation shall be effective only if the Trustee receives the notice of revocation before the date the amendment, supplement or waiver becomes
effective. The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Holders of Securities of any Series entitled to consent to any amendment, supplement or
waiver, which record date shall be at least 10 days prior to the first solicitation of such consent. If a record date is fixed, then notwithstanding the last sentence of the immediately
preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to revoke any consent previously given, whether or
not such Persons continue to be Holders after such record date. No such consent shall be valid or effective for more than 90 days after such record date. After an amendment, supplement or
waiver becomes effective, it shall bind every Holder, unless it makes a change described in any of clauses (1) through (7) of Section 9.02, in which case, the amendment,
supplement or waiver shall bind only each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting
Holder's Security; provided that any such waiver shall not impair or affect the right of any Holder to receive payment of principal of and interest on a Security, on or after the respective due dates
expressed in such Security, or to bring suit for the enforcement of any such payment on or after such respective dates without the consent of such Holder. 

Section 9.05.    Notation on or Exchange of Securities.    

        If
an amendment, supplement or waiver changes the terms of a Security, the Company may require the Holder of the Security to deliver it to the Trustee, at which time the Trustee shall
place an appropriate notation on the Security about the changed terms and return it to the Holder. 

23

 

Alternatively,
if the Company or the Trustee so determines, the Company in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. 

Section 9.06.    Trustee to Sign Amendments, etc.    

        Subject
to Section 7.02(b), the Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article if the amendment, supplement or waiver does not
adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing or refusing to sign such amendment or supplemental
indenture, the Trustee shall be entitled to receive and shall be fully protected in relying upon, an Officers' Certificate and an Opinion of Counsel as conclusive evidence that such amendment or
supplemental indenture is authorized or permitted by this Indenture, that it is not inconsistent herewith, and that it will be valid and binding upon the Company in accordance with its terms. 

ARTICLE TEN  

 MISCELLANEOUS  

Section 10.01.    Trust Indenture Act Controls.    

        If
any provision of this Indenture limits, qualifies or conflicts with another provision which is required to be included in this Indenture by the TIA, the required provision shall
control. 

Section 10.02.    Notices.    

        Any
order, consent, notice or communication shall be sufficiently given if in writing and delivered in person or mailed by first class mail, postage prepaid, addressed as follows: 

	if to the Company:	 	 
	

Fleetwood Enterprises, Inc.

3125 Myers Street

Riverside, CA 92503

Attention:	
 	

 
	

if to the Trustee:	
 	

 
	    
    
    
 Attention:	 	 

        The
Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 

        Any
notice or communication mailed to a Securityholder shall be mailed to him by first class mail at his address as it appears on the registration books of the Registrar and shall be
sufficiently given to him if so mailed within the time prescribed. 

        Failure
to mail a notice or communication to a Securityholder or any defect in it shall not affect its sufficiency with respect to other Securityholders. If a notice or communication is
mailed in the manner provided above, it is duly given, whether or not the addressee receives it except that notice to the Trustee shall only be effective upon receipt thereof by the Trustee. 

        If
the Company mails notice or communications to the Securityholders, it shall mail a copy to the Trustee at the same time. 

24

 

Section 10.03.    Communications by Holders with Other
Holders.    

        Securityholders
may communicate pursuant to TIA (S) 312(b) with other Securityholders with respect to their rights under this Indenture or the Securities. The Company, the
Trustee, the Registrar and anyone else shall have the protection of TIA (S) 312(c). 

Section 10.04.    Certificate and Opinion as to Conditions
Precedent.    

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

	(1)
	an
Officers' Certificate (which shall include the statements set forth in Section 10.05) 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

	(2)
	an
Opinion of Counsel (which shall include the statements set forth in Section 10.05) stating that, in the opinion of such counsel, all such conditions precedent and covenants,
compliance with which constitutes a condition precedent, if any, provided for in this Indenture relating to the proposed action or inaction, have been complied with and that any such Section does not
conflict with the terms of the Indenture. 

Section 10.05.    Statements Required in Certificate or
Opinion.    

        Each
certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture 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 10.06.    Rules by Trustee and Agents.    

        The
Trustee may make reasonable rules for action by or a meeting of Securityholders. The Registrar or Paying Agent may make reasonable rules for its functions. 

Section 10.07.    Legal Holidays.    

        A
"Legal Holiday" is a Saturday, a Sunday, a legal holiday or a day on which banking institutions in Los Angeles, California and New York, New York are not required to be open. If a
payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening
period. A Business Day is any day other than a Legal Holiday. 

Section 10.08.    Governing Law.    

        The
laws of the State of New York shall govern this Indenture and the Securities of each Series. 

25

 

Section 10.09.    No Adverse Interpretation of Other
Agreements.    

        This
Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary. Any such indenture, loan or debt agreement may not be used to
interpret this Indenture. 

Section 10.10.    No Recourse Against Others.    

        All
liability described in paragraph 13 of the Securities of any director, officer, employee or stockholder, as such, of the Company is waived and released. 

Section 10.11.    Successors and Assigns.    

        All
covenants and agreements of the Company in this Indenture and the Securities shall bind its successors and assigns. All agreements of the Trustee in this Indenture shall bind its
successors and assigns. 

Section 10.12.    Duplicate Originals.    

        The
parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

Section 10.13.    Severability.    

        In
case any one or more of the provisions contained in this Indenture or in the Securities of a Series 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 such Securities. 

26

 
 
 

SIGNATURES    
    

        IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed, all as of the date first above written. 

	Dated:	 	 	 	FLEETWOOD ENTERPRISES, INC.
	 	 	
	 	 	 
	

 	
 	

 	
 	
By:	

 
	 	 	 	 	 	
 Name:

Title:
	

Dated:	
 	

 	
 	

                        , as Trustee
	 	 	
	 	 	 
	

 	
 	

 	
 	

By:	

 
	 	 	 	 	 	
 Name:

Title:
	

(SEAL)	
 	

 	
 	

 	

 

27

   EXHIBIT A  

	No.	 	CUSIP No.:                      	 	 	 	 
	

[Title of Security]	
 	

 	
 	

 
	

 	
 	

FLEETWOOD ENTERPRISES, INC., a Delaware corporation promises to pay to or registered assigns
	the principal sum of [Dollars](1) on                          [Title of Security]
	

 	
 	

Interest Payment Dates:                      and
                    
	

 	
 	

Record Dates:                      and
                    
	

 	
 	

Authenticated:	
 	

 	
 	

 
	

Dated:	
 	

	
 	

Fleetwood Enterprises, Inc.
	

 	
 	

 	
 	

By:	
 	

	 	 	 	 	 	 	Title:
	

 	
 	

 	
 	

By:	
 	

	 	 	 	 	 	 	Title:
	

                        , as Trustee, certifies that this is one of the Securities referred to in the within mentioned
Indenture.
	

 	
 	

 	
 	

By:	
 	

	 	 	 	 	 	 	Title:
	

 	
 	

 	
 	

 	
 	

Authorized Signatory

	(1)
	Or
other currency. Insert corresponding provisions on reverse side of Security in respect of foreign currency denomination or interest payment requirement. 

A-1

 
FLEETWOOD ENTERPRISES, INC.  

 [Title of Security]  

        1.    Interest.    FLEETWOOD ENTERPRISES, INC. (the "Company"), a Delaware corporation, promises to pay
interest on the principal amount of this Security at the rate per annum shown above. The Company will pay interest semiannually
on                        and                 
       of each year until the principal
is paid or made available for payment. Interest on the Securities will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid, from
                        , 20    , provided that, if there is no existing default in the payment of interest,
and if this Security is authenticated between a record date referred to on the face hereof
and the next succeeding interest payment date, interest shall accrue from such interest payment date. Interest will be computed on the basis of a 360-day year of twelve 30-day
months. 

        2.    Method of Payment.    The Company will pay interest on the Securities (except defaulted interest, if any, which
will be paid on such special payment date to Holders of record on such special record date as may be fixed by the Company) to the persons who are registered Holders of Securities at the close of
business on the [Insert record dates]. Holders must surrender Securities to a Paying Agent to collect principal payments. The Company will pay principal and interest in money
of the United States that at the time of payment is legal tender for payment of public and private debts. 

        3.    Paying Agent and Registrar.    Initially,
                        (the "Trustee") will act as Paying Agent and
Registrar. The Company may change or appoint any Paying Agent, Registrar or co-Registrar without notice. The Company or any of its Subsidiaries may act as Paying Agent, Registrar or
co-Registrar. 

        4.    Indenture.    The Company issued the Securities under an Indenture dated as
of                        , 20    
("Indenture") between the Company and the Trustee. The terms of the Securities include those stated in the Indenture (including those terms set forth in the Authorizing Resolution or supplemental
indenture pertaining to the Securities of the Series of which this Security is a part) and those made part of the Indenture by reference to the Trust Indenture Act of 1939 ("TIA") as in effect on the
date of the Indenture. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and the Act for a statement of them. 

        The
Company will furnish to any Securityholder upon written request and without charge a copy of the Indenture and the applicable Authorizing Resolution or supplemental indenture.
Requests may be made to: Fleetwood Enterprises, Inc., 3125 Myers Street, Riverside, CA 92503,
Attention:                        . 

        5.    Optional Redemption.(1)    The Company may redeem the Securities at any time on or
after                        , in
whole or in part, at the following redemption prices (expressed as a percentage of their principal amount) together with interest accrued and unpaid to the date fixed for redemption: 

	If redeemed during the Twelve-Month period

commencing on                        and ending on

                        in each of the following years	 	Percentage

        Notice
of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Holder of Securities to be redeemed at his registered
address. Securities in denominations larger than $1,000 may be redeemed in part. On and after the redemption date interest ceases to accrue on Securities or portions of them called for redemption,
provided that if the Company shall
default in the payment of such Security at the redemption price together with accrued interest, interest shall continue to accrue at the rate borne by the Securities. 

        6.    Provisions Relating to Redemption, Repayment or Repurchase at Option of Holders.(1)    

	(1)
	If
applicable. 

A-2

 

        7.    Mandatory Redemption.(1)    The Company shall redeem    % of the aggregate principal amount of
Securities originally issued under the Indenture on each of, which redemptions are calculated to retire    % of the Securities originally issued prior to maturity. Such redemptions shall be
made at a redemption price equal to 100% of the principal amount thereof, together with accrued interest to the redemption date. The Company may reduce the principal amount of Securities to be
redeemed pursuant to this Paragraph 7 by the principal amount of any Securities previously redeemed, retired or acquired, otherwise than pursuant to this Paragraph 7, that the Company
has delivered to the Trustee for cancellation and not previously credited to the Company's obligations under this Paragraph 7. Each such Security shall be received and credited for such purpose
by the Trustee at the redemption price and the amount of such mandatory redemption payment shall be reduced accordingly. 

        8.    Denominations, Transfer, Exchange.    The Securities are in registered form without coupons in denominations of
$1,000 and integral multiples of $1,000. A Holder may transfer or exchange Securities by presentation of such Securities to the Registrar or a Co-Registrar with a request to register the
transfer or to exchange them for an equal principal amount of Securities of other denominations. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and
transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not transfer or exchange any Security selected for redemption, except the unredeemed
part thereof if the Security is redeemed in part, or transfer or exchange any Securities for a period of 15 days before a selection of Securities to be redeemed. 

[Insert
different or additional denominations and multiples.] 

        9.    Persons Deemed Owners.    The registered Holder of this Security shall be treated as the owner of it for all
purposes. 

        10.    Unclaimed Money.    If money for the payment of principal or interest remains unclaimed for two years, the
Trustee or Paying Agent will pay the money back to the Company at its request. After that, Holders entitled to the money must look to the Company for payment unless an abandoned property law
designates another person. 

        11.    Amendment, Supplement, Waiver.    Subject to certain exceptions, the Indenture or the Securities may be amended
or supplemented with the consent of the Holders of at least a majority in principal amount of the outstanding Securities of each Series affected by the amendment and any past default or compliance
with any provision relating to any Series of the Securities may be waived in a particular instance with the consent of the Holders of a majority in principal amount of the outstanding Securities of
such Series.(2) Without the consent of any Securityholder, the Company and the Trustee may amend or supplement the Indenture or the Securities to (i) cure any ambiguity, defect or
inconsistency, (ii) evidence the assumption by a successor corporation of the Company's obligations under the Indenture and any Series of the Securities, (iii) provide that specific
provisions of the Indenture shall not apply to a Series not previously issued, (iv) to create a Series and establish its terms (or to provide for the issuance of additional Securities of any
Series to the extent provided, in accordance with the provisions set forth in an Authorizing Resolution or supplemental indenture pertaining to any Series), (v) provide for uncertificated
Securities in addition to or in place of certificated Securities, (vi) make any change that would provide any additional rights or benefits to the Holders of Securities or that does not
adversely affect the rights under the Indenture of any such Holder, (vii) evidence and provide for the acceptance of an appointment of a successor trustee, (viii) to add guarantees or
collateral security with respect to the Securities and (ix) comply with the requirements of the SEC in order to effect or maintain the qualification of the Indenture under the TIA. 

	(2)
	If
different terms apply, insert a brief summary thereof. 

A-3

 

        12.    Successor Corporation.    When a successor corporation assumes all the obligations of its predecessor under the
Securities and the Indenture, the predecessor corporation will be released from those obligations. 

        13.    Trustee Dealings With Company.                            , the Trustee under the Indenture, in its individual or any
other capacity, may make loans to, accept deposits from, and perform services for the Company or its affiliates, and may otherwise deal with the Company or its affiliates, as if it were not Trustee. 

        14.    No Recourse Against Others.    A director, officer, employee or stockholder, as such, of the Company shall not
have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of, such obligations or their creation. Each
Securityholder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. 

        15.    Discharge of Indenture.    The Indenture contains certain provisions pertaining to defeasance, which provisions
shall for all purposes have the same effect as if set forth herein. 

        16.    Authentication.    This Security shall not be valid until the Trustee signs the certificate of authentication
on the other side of this Security. 

        17.    Abbreviations.    Customary abbreviations may be used in the name of a Securityholder or an assignee, such
as:

TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform Gifts
to Minors Act). 

ASSIGNMENT FORM  

        If you the Holder want to assign this Security, fill in the form below: 

	        I or we assign and transfer this Security to	 	

	

	(Insert assignee's social security or tax ID number)
	

	

	(Print or type assignee's name, address, and zip code)

and
irrevocably appoint agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 

	Dated:	 	
	 	Your signature:
	

 	
 	

 	
 	

(Sign exactly as your name appears on the other side of this Security)
	

 	
 	

 	
 	

Signature	
 	

 
	 	 	 	 	Guarantee:	 	

A-4

QuickLinks

EXHIBIT 4.16

CROSS-REFERENCE TABLE

SIGNATURES

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