Document:

Exhibit 10.2

CORGENIX MEDICAL
CORPORATION

SECURITIES PURCHASE AGREEMENT

DECEMBER 28, 2005

TABLE OF
CONTENTS

	
  

  	
   

  	
   

  	
   

  	
  PAGE

  
	
  1.

  	
  AGREEMENT TO SELL AND PURCHASE

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
  FEES AND WARRANTS

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
  CLOSING, DELIVERY, PAYMENT AND CERTAIN CONDITIONS

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  3.1

  	
  Closing

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  3.2

  	
  Delivery

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  3.3

  	
  Conversion and Lockup

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  3.4

  	
  Optional Redemption of Principal Amount

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  3.5

  	
  [Reserved.]

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
  REPRESENTATIONS AND WARRANTIES OF THE COMPANY

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.1

  	
  Organization, Good Standing and Qualification

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.2

  	
  Subsidiaries

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.3

  	
  Capitalization; Voting Rights

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.4

  	
  Authorization; Binding Obligations

  	
   

  	
  5

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.5

  	
  Liabilities

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.6

  	
  Agreements; Action

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.7

  	
  Obligations to Related Parties

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.8

  	
  Changes

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.9

  	
  Title to Properties and Assets; Liens, Etc

  	
   

  	
  8

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.10

  	
  Intellectual Property

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.11

  	
  Compliance with Other Instruments

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.12

  	
  Litigation

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.13

  	
  Tax Returns and Payments

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.14

  	
  Employees

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.15

  	
  Registration Rights and Voting Rights

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.16

  	
  Compliance with Laws; Permits

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.17

  	
  Environmental and Safety Laws

  	
   

  	
  11

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.18

  	
  Valid Offering

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.19

  	
  Full Disclosure

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.20

  	
  Insurance

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.21

  	
  SEC Reports

  	
   

  	
  12

  

 

 i
 

 

	
  

  	
   

  	
   

  	
   

  	
  PAGE

  
	
  

  	
  4.22

  	
  Listing

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.23

  	
  No Integrated Offering

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.24

  	
  Stop Transfer

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.25

  	
  Dilution

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.26

  	
  Patriot Act

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
  REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.1

  	
  No Shorting

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.2

  	
  Organization, Good Standing and Qualification

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.3

  	
  Requisite Power and Authority

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.4

  	
  Investment Representations

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.5

  	
  The Purchasers Bear Economic Risk

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.6

  	
  Acquisition for Own Account

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.7

  	
  The Purchasers Can Protect Their Interest

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.8

  	
  Accredited Investor

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  5.9

  	
  Legends

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
  COVENANTS OF THE COMPANY

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.1

  	
  Stop-Orders

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.2

  	
  Authorization and Listing

  	
   

  	
  17

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.3

  	
  Market Regulations

  	
   

  	
  17

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.4

  	
  Reporting Requirements

  	
   

  	
  17

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.5

  	
  Use of Funds

  	
   

  	
  17

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.6

  	
  Access to Facilities

  	
   

  	
  17

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.7

  	
  Taxes

  	
   

  	
  18

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.8

  	
  Insurance

  	
   

  	
  18

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.9

  	
  Intellectual Property

  	
   

  	
  19

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.10

  	
  Properties

  	
   

  	
  19

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.11

  	
  Confidentiality

  	
   

  	
  19

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.12

  	
  Required Approvals

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.13

  	
  Repayment of Indebtedness

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.14

  	
  Reissuance of Securities

  	
   

  	
  21

  

 

 ii
 

 

	
  

  	
   

  	
   

  	
   

  	
  PAGE

  
	
  

  	
  6.15

  	
  Opinion

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.16

  	
  Margin Stock

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.17

  	
  [Reserved.]

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.18

  	
  Financing Right of First Refusal

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.19

  	
  [Reserved.]

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.20

  	
  Net Worth

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.21

  	
  Retention of Investor Relations/Public Relations
  Firm and Program

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
  COVENANTS OF THE PURCHASERS

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  7.1

  	
  Confidentiality

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  7.2

  	
  Non-Public Information

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  7.3

  	
  Amendment to Articles of Incorporation

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  8.

  	
  COVENANTS OF THE COMPANY AND THE PURCHASERS
  REGARDING INDEMNIFICATION

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  8.1

  	
  Company Indemnification

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  8.2

  	
  The Purchasers’ Indemnification

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
  CONVERSION OF CONVERTIBLE TERM NOTES

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  9.1

  	
  Mechanics of Conversion

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
  REGISTRATION RIGHTS

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  10.1

  	
  Registration Rights Granted

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  10.2

  	
  Offering Restrictions

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11.

  	
  MISCELLANEOUS

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.1

  	
  Governing Law

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.2

  	
  Survival

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.3

  	
  Successors

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.4

  	
  Entire Agreement

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.5

  	
  Amendment and Waiver

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.6

  	
  Delays or Omissions

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.7

  	
  Notices

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.8

  	
  Attorneys’ Fees

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.9

  	
  Titles and Subtitles

  	
   

  	
  28

  

 

 iii
 

 

	
  

  	
   

  	
   

  	
   

  	
  PAGE

  
	
   

  	
  11.10

  	
  Facsimile Signatures; Counterparts

  	
   

  	
  28

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.11

  	
  Broker’s Fees

  	
   

  	
  28

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.12

  	
  Construction

  	
   

  	
  28

  

 

 iv

SECURITIES PURCHASE AGREEMENT

THIS SECURITIES PURCHASE
AGREEMENT (this “Agreement”) is made and entered into as of December 28, 2005, by and among Corgenix
Medical Corporation, a Nevada corporation (the “Company”), and Truk Opportunity
Fund, LLC, a Delaware company (“Truk Opportunity”), Truk International Fund,
LP, a Cayman Islands company (“Truk International”), and CAMOFI Master LDC, a
Cayman Islands company, formerly named DCOFI Master LDC, (“CAMOFI”) (Truk
Opportunity, Truk International and CAMOFI, each a “Purchaser” and together the
“Purchasers”).

RECITALS

WHEREAS,
Section 6.19 of that certain Securities Purchase Agreement between the
Purchasers and the Company dated as of May 19, 2005 granted the Purchasers
an additional investment right;

WHEREAS, the Purchasers
wish to exercise such additional investment right and the Company has
authorized the sale to the Purchasers of Convertible Term Notes in the
aggregate principal amount of One Million Five Hundred Thousand Dollars
($1,500,000) (each as amended, modified or supplemented from time to time, a “Term
Note”), which Term Notes are convertible into shares of the Company’s common
stock, $0.001 par value per share (the “Common Stock”) at an initial fixed
conversion price of $0.30 per share of Common Stock (“Fixed Conversion Price”);

WHEREAS, the Company
wishes to issue warrants to the Purchasers to purchase in the aggregate up to
60% of the number of shares of the Company’s Common Stock issuable through the
conversion of the total amount being invested by the Purchasers, or One Million
Five Hundred Thousand Dollars ($1,500,000) (the “Total Investment Amount”)
(subject to adjustment as set forth therein) in connection with the Purchasers’
purchase of the Term Notes;

WHEREAS, the Purchasers
desire to purchase the Term Notes and the Warrants (as defined in Section 2) on
the terms and conditions set forth herein;

WHEREAS, the Company
desires to issue and sell the Term Notes and the Warrants to the Purchasers on
the terms and conditions set forth herein; and

WHEREAS, the Company has
entered into a definitive Preferred Stock Purchase Agreement and related
transaction documents with Barron Partners LP (“Barron”) and Barron has funded
the full consideration owed to the Company thereby into an escrow account (the “Barron
Financing”).

AGREEMENT

NOW, THEREFORE, in
consideration of the foregoing recitals and the mutual promises,
representations, warranties and covenants hereinafter set forth and for other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

1.             Agreement
to Sell and Purchase.

(a)           Pursuant to the terms and conditions
set forth in this Agreement, on the Closing Date (as defined in Section 3), the
Company agrees to sell to the Purchasers, and the Purchasers, severally and not
jointly, hereby agree to purchase from the Company, Term Note in the principal
amount and at the purchase price set forth opposite such Purchaser’s name on
Schedule I hereto convertible in accordance with the terms thereof into
shares of the Company’s Common Stock in accordance with the terms of such Term
Note and this Agreement. It is understood and agreed that the purchases by the
Purchasers are to be separate transactions. The purchase of the Term Notes on
the Closing Date shall be known as the “Offering.” A form of the Term Notes are
annexed hereto as Exhibit A. The Term Notes will mature on the Maturity Date
(as defined in the Term Notes). Collectively, the Term Notes, the Warrants and
Common Stock issuable upon conversion of the Term Notes and upon exercise of
the Warrants are referred to as the “Securities.”

2.             Fees
and Warrants.  On the Closing Date:

(a)           The Company will issue and deliver to
each Purchaser a Warrant to purchase up to that number of shares of the Company’s
Common Stock set forth opposite the name of such Purchaser on Schedule I
hereto (as amended, modified or supplemented from time to time, a “Warrant”).
The Warrants must be delivered on the Closing Date. A form of Warrant is
annexed hereto as Exhibit B. All the representations, covenants, warranties,
undertakings, and indemnification, and other rights made or granted to or for
the benefit of the Purchasers by the Company are hereby also made and granted
in respect of the Warrants and shares of the Company’s Common Stock issuable
upon exercise of the Warrants (the “Warrant Shares”).

(b)           The Company shall pay (i) to RAM
Capital Resources, LLC, the manager of Truk Opportunity and Truk International,
a closing payment in an amount equal to three and one half percent (3.5%) of
34.09090909% of the Total Investment Amount and (ii) to Centrecourt Asset
Management LLC, the manager of CAMOFI, a closing payment in an amount equal to
three and one half percent (3.5%) of 65.90909090% of the Total Investment
Amount. The foregoing fees are referred to herein as the “Closing Payment.”

(c)           The Company shall pay to Ascendiant
Securities, LLC an agent fee of 10%
of the Total Investment Amount.

(d)           The Company shall reimburse the
Purchasers for their reasonable expenses (including legal fees and expenses)
incurred in connection with the preparation and negotiation of this Agreement
and the Related Agreements (as hereinafter defined), and expenses incurred in
connection with the Purchasers’ due diligence review of the Company and its
Subsidiaries (as defined in Section 4.2) and all related matters. Amounts
required to be paid under this Section 2(d), will be paid on the Closing Date.

(e)           The Closing Payment and the expenses
referred to in the preceding clauses (c) and (d) (net of deposits previously
paid by the Company) shall be paid at closing out 

 2
 

of funds held pursuant to an Escrow Agreement (as
defined below) and a disbursement letter (the “Disbursement Letter”).

3.             Closing,
Delivery, Payment and Certain Conditions.

3.1           Closing.  Subject to the terms and conditions herein,
the closing of the Offering (the “Closing”), shall take place on the date
hereof, at such time or place as the Company and the Purchasers may mutually
agree (such date is hereinafter referred to as the “Closing Date”).

3.2           Delivery.  Pursuant to the Escrow Agreement, at the
Closing on the Closing Date, the Company will deliver to the Purchasers, among
other things, Term Notes in the form attached as Exhibit A representing the
aggregate principal amount of $1,500,000 and Warrants in the form attached as
Exhibit B in each Purchaser’s name representing in the aggregate 60% of the
number of shares of the Company’s Common Stock issuable through conversion of
the Total Investment Amount, and each Purchaser will deliver to the Company,
among other things, the amounts set forth to be delivered by it in the
Disbursement Letter by certified funds or wire transfer.

3.3           Conversion and Lockup.  Prior to the Closing Date, the Company shall
have caused its directors, controlling shareholders and certain other persons
requested by the Purchasers to agree to “lockup” and not sell their shares of
Common Stock of the Company, pursuant to documentation, and on terms and
conditions, acceptable to the Purchasers.

3.4           Optional Redemption of Principal
Amount.  The Company covenants that
should it exercise its right of optional redemption of the principal amounts
under the Term Notes and/or those certain secured convertible term notes dated
as of May 19, 2005 (the “May 19th Notes”),
it shall repay the Term Notes in their entirety before it repays the May 19th Notes.

3.5           [Reserved.] 

4.             Representations and Warranties
of the Company.  The Company hereby
represents and warrants to the Purchasers as follows (which representations and
warranties are supplemented by the Company’s filings under the Securities
Exchange Act of 1934, as amended, made prior to the date of this Agreement
(collectively, the “Exchange Act Filings”), copies of which have been provided
to the Purchasers):

4.1           Organization, Good Standing and
Qualification.  Each of the Company
and each of its Subsidiaries is a corporation, partnership or limited liability
company, as the case may be, duly organized, validly existing and in good
standing under the laws of its jurisdiction of organization.  Each of the Company and each of its
Subsidiaries has the corporate, partnership or limited liability company, as
the case may be, power and authority to own and operate its properties and assets,
to execute and deliver (i) this Agreement, (ii) the Term Notes and
the Warrants to be issued in connection with this Agreement, (iii) the
Registration Rights Agreement relating to the Securities dated as of the date
hereof among the Company and the Purchasers (as amended, modified or supplemented
from time to time, the “Registration Rights Agreement”), (iv) the Escrow
Agreement dated as of the date hereof among the Company, the Purchasers and the
escrow agent referred to therein, substantially in the form of Exhibit D hereto
(as amended, 

 3
 

modified or supplemented from time to time, the “Escrow
Agreement”), and (v) all other agreements related to this Agreement and the
Term Note and referred to herein (the preceding clauses (ii) through (iv), the
Subsidiary Guaranty dated as of May 19, 2005 made by certain Subsidiaries
of the Company (as amended, modified or supplemented from time to time, the “Subsidiary
Guaranty”), the Stock Pledge Agreement dated as of May 19, 2005 among the
Company, certain Subsidiaries of the Company and the Purchasers (as amended,
modified or supplemented from time to time, the “Stock Pledge Agreement”), and
the Subordination Agreement dated as of May 19, 2005 among the Purchasers
and the subordinated creditors party thereto, and acknowledged and agreed to by
the Company (as amended, modified or supplemented from time to time, the
Subordination Agreement”), collectively, the “Related Agreements”), to issue
and sell the Term Notes and the shares of Common Stock issuable upon conversion
of the Term Notes (other than the shares of Common Stock issuable upon
conversion of the Term Note that will be issuable upon approval and adoption of
the Share Increase Amendment), as defined below (the “Note Shares”), to issue
and sell the Warrants and the Warrant Shares (other than the Warrant Shares
that will be issuable upon approval and adoption of the Share Increase
Amendment), and to carry out the provisions of this Agreement and the Related
Agreements and to carry on its business as presently conducted.  Each of the Company and each of its
Subsidiaries is duly qualified and is authorized to do business and is in good
standing as a foreign corporation, partnership or limited liability company, as
the case may be, in all jurisdictions in which the nature of its activities and
of its properties (both owned and leased) makes such qualification necessary,
except for those jurisdictions in which failure to do so has not, or would not
reasonably be expected to have, individually or in the aggregate, a material
adverse effect on the business, assets, liabilities, condition (financial or
otherwise), properties, operations or prospects of the Company and its
Subsidiaries, taken individually and as a whole (a “Material Adverse Effect”).  Corgenix (UK) Ltd. owns no material assets in
the United States.

4.2           Subsidiaries.  Each direct and indirect Subsidiary of the
Company, the direct owner of such Subsidiary and its percentage ownership
thereof, is set forth on Schedule 4.2. 
For the purpose of this Agreement, a “Subsidiary” of any person or
entity means (i) a corporation or other entity whose shares of stock or other
ownership interests having ordinary voting power (other than stock or other
ownership interests having such power only by reason of the happening of a
contingency) to elect a majority of the directors of such corporation, or other
persons or entities performing similar functions for such person or entity, are
owned, directly or indirectly, by such person or entity or (ii) a corporation
or other entity in which such person or entity owns, directly or indirectly,
more than 50% of the equity interests at such time.

4.3           Capitalization;
Voting Rights.

(a)           The authorized capital stock of the
Company, as of the date hereof consists of 45,000,000 shares, of which
40,000,000 are shares of Common Stock, par value $0.001 per share, 9,325,305
shares of which are issued and outstanding, and 5,000,000 are shares of
preferred stock, par value $0.001 per share, 2,000,000 of which are issued and
outstanding.  The authorized capital
stock of each Subsidiary of the Company is set forth on Schedule 4.3.

(b)           Except as disclosed on
Schedule 4.3, other than:  (i) the
shares reserved for issuance under the Company’s stock option plans; and (ii)
shares which may be 

 4
 

granted pursuant to this Agreement and the Related
Agreements, there are no outstanding options, warrants, rights (including
conversion or preemptive rights and rights of first refusal), proxy or
stockholder agreements, or arrangements or agreements of any kind for the
purchase or acquisition from the Company of any of its securities. Except as
disclosed on Schedule 4.3, neither the offer, issuance or sale of any of
the Term Notes or the Warrants, or the issuance of any of the Note Shares or
Warrant Shares, nor the consummation of any transaction contemplated hereby
will result in a change in the price or number of any securities of the Company
outstanding, under anti-dilution or other similar provisions contained in or
affecting any such securities.

(c)           All issued and outstanding shares of
the Company’s Common Stock:  (i) have
been duly authorized and validly issued and are fully paid and nonassessable;
and (ii) were issued in compliance in all material respects with all applicable
state and federal laws concerning the issuance of securities.

(d)           The rights, preferences, privileges
and restrictions of the shares of the Common Stock are as stated in the Company’s
Articles of Incorporation (the “Charter”). 
The Note Shares and Warrant Shares have been duly and validly reserved
for issuance (other than the Note Shares and Warrant Shares that will be
issuable only after approval, adoption and effectiveness of the Share Increase
Amendment, such Note Shares and Warrant Shares to be duly and validly reserved
for issuance upon effectiveness of the Share Increase Amendment). When issued
in compliance with the provisions of this Agreement and the Company’s Charter
(and to the extent the Note Shares and Warrant Shares are not presently
authorized, subject to and conditioned on the approval, adoption and
effectiveness of the Share Increase Amendment with respect to the Note Shares
and Warrant Shares) the Securities will be validly issued, fully paid and
nonassessable, and will be free of any liens or encumbrances; provided,
however, that the Securities may be subject to restrictions on transfer under
state and/or federal securities laws as set forth herein or as otherwise
required by such laws at the time a transfer is proposed.

4.4           Authorization; Binding Obligations.  All corporate, partnership or limited
liability company, as the case may be, action on the part of the Company and
each of its Subsidiaries (including the respective officers and directors)
necessary for the authorization of this Agreement and the Related Agreements,
the performance of all obligations of the Company and its Subsidiaries
hereunder and under the other Related Agreements at the Closing and, the
authorization, sale, issuance and delivery of the Term Notes and the Warrants
has been taken or will be taken prior to the Closing except with respect to the
Share Increase Amendment and actions related thereto or thereunder.  This Agreement and the Related Agreements,
when executed and delivered and to the extent it is a party thereto, will be
valid and binding obligations of each of the Company and each of its
Subsidiaries, enforceable against each such person in accordance with their
terms, except:

(a)           as limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other laws of general application
affecting enforcement of creditors’ rights;

 5
 

(b)           general principles of equity that
restrict the availability of equitable or legal remedies; and

(c)           as to that portion of the Note Shares
and the Warrant Shares that is presently not authorized, the issuance of such
Note Shares and such Warrant Shares is subject to and conditioned upon the
approval, adoption and effectiveness of the Share Increase Amendment.

The sale of the Term
Notes and the subsequent conversion of the Term Notes into Note Shares are not
and will not be subject to any preemptive rights or rights of first refusal
that have not been properly waived or complied with. The issuance of the
Warrants and the subsequent exercise of the Warrants for Warrant Shares are not
and will not be subject to any preemptive rights or rights of first refusal
that have not been properly waived or complied with.

4.5           Liabilities.  Neither the Company nor any of its
Subsidiaries has any contingent liabilities in excess of $25,000, except
current liabilities incurred in the ordinary course of business and liabilities
disclosed in any Exchange Act Filings.

4.6           Agreements; Action.  Except as set forth on Schedule 4.6 or
as disclosed in any Exchange Act Filings:

(a)           there are no agreements,
understandings, instruments, contracts, proposed transactions, judgments,
orders, writs or decrees to which the Company or any of its Subsidiaries is a
party or by which it is bound which may involve: (i) obligations (contingent or
otherwise) of, or payments to, the Company in excess of $50,000 (other than
obligations of, or payments to, the Company arising from purchase or sale
agreements entered into in the ordinary course of business); or (ii) the
transfer or license of any patent, copyright, trade secret or other proprietary
right to or from the Company (other than licenses arising from the purchase of “off
the shelf” or other standard products); or (iii) provisions restricting the
development, manufacture or distribution of the Company’s products or services;
or (iv) indemnification by the Company with respect to infringements of
proprietary rights.

(b)           Since June 30, 2005, neither the
Company nor any of its Subsidiaries has: 
(i) declared or paid any dividends, or authorized or made any
distribution upon or with respect to any class or series of its capital stock; (ii)
incurred any indebtedness for money borrowed or any other liabilities (other
than ordinary course obligations) individually in excess of $50,000 or, in the
case of indebtedness and/or liabilities individually less than $50,000, in
excess of $100,000 in the aggregate; (iii) made any loans or advances to any
person in excess, individually or in the aggregate, of $100,000, other than
ordinary course advances for travel expenses; or (iv) sold, exchanged or
otherwise disposed of any of its assets or rights, other than the sale of its
inventory in the ordinary course of business.

(c)           For the purposes of subsections (a)
and (b) above, all indebtedness, liabilities, agreements, understandings,
instruments, contracts and proposed transactions involving the same person or entity
(including persons or entities the Company has 

 6
 

reason to believe are affiliated therewith) shall be
aggregated for the purpose of meeting the individual minimum dollar amounts of
such subsections.

4.7           Obligations to Related Parties.  Except as set forth on Schedule 4.7,
there are no obligations of the Company or any of its Subsidiaries to officers,
directors, stockholders or employees of the Company or any of its Subsidiaries
other than:

(a)           for payment of salary for services
rendered and for bonus payments;

(b)           reimbursement for reasonable expenses
incurred on behalf of the Company and its Subsidiaries;

(c)           for other standard employee benefits
made generally available to all employees (including stock option agreements
outstanding under any stock option plan approved by the Board of Directors of
the Company); and

(d)           obligations listed in the Company’s
financial statements or disclosed in any of its Exchange Act Filings.

Except as described above
or set forth on Schedule 4.7, none of the officers, directors or, to the
best of the Company’s knowledge, key employees or stockholders of the Company
or any members of their immediate families, are indebted to the Company,
individually or in the aggregate, in excess of $50,000 or have any direct or
indirect ownership interest in any firm or corporation with which the Company
is affiliated or with which the Company has a business relationship, or any
firm or corporation which competes with the Company, other than passive
investments in publicly traded companies (representing less than one percent
(1%) of such company) which may compete with the Company. Except as described
above, no officer, director or stockholder, or any member of their immediate
families, is, directly or indirectly, interested in any material contract with
the Company and no agreements, understandings or proposed transactions are
contemplated between the Company and any such person.  Except as set forth on Schedule 4.7, the
Company is not a guarantor or indemnitor of any indebtedness of any other
person, firm or corporation.

4.8           Changes.  Since June 30, 2005, except as disclosed
in any Exchange Act Filing or in any Schedule to this Agreement or in any of
the Related Agreements, there has not been:

(a)           any change in the business, assets,
liabilities, condition (financial or otherwise), properties, operations or
prospects of the Company or any of its Subsidiaries, which individually or in
the aggregate has had, or would reasonably be expected to have, individually or
in the aggregate, a Material Adverse Effect;

(b)           any resignation or termination of any
officer, key employee or group of employees of the Company or any of its
Subsidiaries;

(c)           any material change, except in the
ordinary course of business, in the contingent obligations of the Company or
any of its Subsidiaries by way of guaranty, endorsement, indemnity, warranty or
otherwise;

 7
 

(d)           any damage, destruction or loss,
whether or not covered by insurance, which has had, or would reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect;

(e)           any waiver by the Company or any of
its Subsidiaries of a material right under a written contract or of a material
debt owed to it;

(f)            any direct or indirect loans made by
the Company or any of its Subsidiaries to any stockholder, employee, officer or
director of the Company or any of its Subsidiaries, other than advances made in
the ordinary course of business;

(g)           any material change in any
compensation arrangement or agreement with any employee, officer, director or stockholder
of the Company or any of its Subsidiaries;

(h)           any labor organization activity
related to the Company or any of its Subsidiaries;

(i)            any debt, obligation or liability
incurred, assumed or guaranteed by the Company or any of its Subsidiaries, except
those for immaterial amounts and for current liabilities incurred in the
ordinary course of business;

(j)            any sale, assignment or transfer of
any patents, trademarks, copyrights, trade secrets or other intangible assets
owned by the Company or any of its Subsidiaries;

(k)           any change in any material agreement
to which the Company or any of its Subsidiaries is a party or by which either
the Company or any of its Subsidiaries is bound which either individually or in
the aggregate has had, or would reasonably be expected to have, individually or
in the aggregate, a Material Adverse Effect;

(l)            any other event or condition of any
character that, either individually or in the aggregate, has had, or would
reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect; or

(m)          any arrangement or commitment by the
Company or any of its Subsidiaries to do any of the acts described in
subsection (a) through (m) above.

4.9           Title to Properties and Assets;
Liens, Etc.  Except as set forth on
Schedule 4.9, each of the Company and each of its Subsidiaries has good
and valid title to its properties and assets, and good title to its leasehold
estates, in each case subject to no mortgage, pledge, lien, lease, encumbrance
or charge, other than:

(a)           those resulting from taxes which have
not yet become delinquent;

(b)           minor liens and encumbrances which do
not materially detract from the value of the property subject thereto or
materially impair the operations of the Company or any of its Subsidiaries; and

(c)           those that have otherwise arisen in
the ordinary course of business.

 8
 

All facilities,
machinery, equipment, fixtures, vehicles and other properties owned, leased or
used by the Company and its Subsidiaries are in good operating condition and
repair and are reasonably fit and usable for the purposes for which they are
being used.  Except as set forth on
Schedule 4.9, the Company and its Subsidiaries are in compliance with all
material terms of each lease to which any of them is a party or is otherwise
bound.

4.10         Intellectual
Property.

Except
as set forth on Schedule 4.10:

(a)           Each of the Company and each of its
Subsidiaries owns or possesses sufficient legal rights to all patents,
trademarks, service marks, trade names, copyrights, trade secrets, licenses,
information and other proprietary rights and processes necessary for its
business as now conducted and to the Company’s knowledge, as presently proposed
to be conducted (the “Intellectual Property”), without any known infringement
of the rights of others.  There are no
outstanding options, licenses or agreements of any kind relating to the
foregoing proprietary rights, nor is the Company or any of its Subsidiaries
bound by or a party to any options, licenses or agreements of any kind with
respect to the patents, trademarks, service marks, trade names, copyrights,
trade secrets, licenses, information and other proprietary rights and processes
of any other person or entity other than such licenses or agreements arising
from the purchase of “off the shelf” or standard products.

(b)           Neither the Company nor any of its
Subsidiaries has received any communications alleging that the Company or any
of its Subsidiaries has violated any of the patents, trademarks, service marks,
trade names, copyrights or trade secrets or other proprietary rights of any
other person or entity, nor is the Company or any of its Subsidiaries aware of
any basis therefor.

(c)           The Company does not believe it is or
will be necessary to utilize any inventions, trade secrets or proprietary
information of any of its employees made prior to their employment by the
Company or any of its Subsidiaries, except for inventions, trade secrets or
proprietary information that have been rightfully assigned to the Company or
any of its Subsidiaries.

4.11         Compliance with Other Instruments.  Neither the Company nor any of its
Subsidiaries is in violation or default of (x) any term of its Charter or
Bylaws, or (y) of any provision of any indebtedness, mortgage, indenture,
contract, agreement or instrument to which it is party or by which it is bound
or of any judgment, decree, order or writ, which violation or default, in the
case of this clause (y), has had, or could reasonably be expected to have,
either individually or in the aggregate, a Material Adverse Effect.  The execution, delivery and performance of
and compliance with this Agreement and the Related Agreements to which it is a
party, and the issuance and sale of the Term Note by the Company and the other
Securities by the Company each pursuant hereto and thereto, will not, with or
without the passage of time or giving of notice, result in any such material
violation, or be in conflict with or constitute a default under any such term
or provision, or result in the creation of any mortgage, pledge, lien,
encumbrance or charge upon any of the properties or assets of the Company or
any of its 

 9
 

Subsidiaries or the
suspension, revocation, impairment, forfeiture or nonrenewal of any permit,
license, authorization or approval applicable to the Company, its business or
operations or any of its assets or properties; provided, that as to those Note
Shares and Warrant Shares that are presently not authorized, the issuance of
such Note Shares and such Warrant Shares is subject to and conditioned upon
approval, adoption and effectiveness of the Share Increase Amendment.

4.12         Litigation.  Except as set forth on Schedule 4.12
hereto, there is no action, suit, proceeding or investigation pending or, to
the Company’s knowledge, currently threatened against the Company or any of its
Subsidiaries that prevents the Company or any of its Subsidiaries from entering
into this Agreement or the other Related Agreements, or from consummating the
transactions contemplated hereby or thereby, or which has had, or would
reasonably be expected to have, either individually or in the aggregate, a
Material Adverse Effect or any change in the current equity ownership of the
Company or any of its Subsidiaries, nor is the Company aware that there is any
basis to assert any of the foregoing. Neither the Company nor any of its
Subsidiaries is a party or subject to the provisions of any order, writ,
injunction, judgment or decree of any court or government agency or
instrumentality.  There is no action,
suit, proceeding or investigation by the Company or any of its Subsidiaries
currently pending or which the Company or any of its Subsidiaries intends to
initiate.

4.13         Tax Returns and Payments.  Each of the Company and its Subsidiaries has
timely filed all tax returns (federal, state and local) required to be filed by
it.  All taxes shown to be due and
payable on such returns, any assessments imposed, and all other taxes due and
payable by the Company or any of its Subsidiaries on or before the Closing, have
been paid or will be paid prior to the time they become delinquent.  Except as set forth on Schedule 4.13,
neither the Company nor any of its Subsidiaries has been advised:

(a)           that any of its returns, federal,
state or other, have been or are being audited as of the date hereof; or

(b)           of any deficiency in assessment or
proposed judgment to its federal, state or other taxes.

The Company has no
knowledge of any liability for any tax to be imposed upon its properties or
assets as of the date of this Agreement that is not adequately provided for.

4.14         Employees.  Except as set forth on Schedule 4.14,
neither the Company nor any of its Subsidiaries has any collective bargaining
agreements with any of its employees. 
There is no labor union organizing activity pending or, to the Company’s
knowledge, threatened with respect to the Company or any of its
Subsidiaries.  Except as disclosed in the
Exchange Act Filings or on Schedule 4.14, neither the Company nor any of
its Subsidiaries is a party to or bound by any currently effective employment
contract, deferred compensation arrangement, bonus plan, incentive plan, profit
sharing plan, retirement agreement or other employee compensation plan or
agreement.  To the Company’s knowledge,
no employee of the Company or any of its Subsidiaries, nor any consultant with
whom the Company or any of its Subsidiaries has contracted, is in violation of
any term of any employment contract, proprietary information agreement or any
other agreement relating to the right of any such individual to be employed by,
or to contract with, the Company or any of its Subsidiaries because of the
nature of the business

 

 10

to be conducted by the
Company or any of its Subsidiaries; and to the Company’s knowledge the
continued employment by the Company or any of its Subsidiaries of its present
employees, and the performance of the Company’s and its Subsidiaries’ contracts
with its independent contractors, will not result in any such violation.  Neither the Company nor any of its
Subsidiaries is aware that any of its employees is obligated under any contract
(including licenses, covenants or commitments of any nature) or other agreement,
or subject to any judgment, decree or order of any court or administrative
agency, that would interfere in any material respect with their duties to the
Company or any of its Subsidiaries. 
Neither the Company nor any of its Subsidiaries has received any notice
alleging that any such violation has occurred. 
Except for employees who have a current effective employment agreement
with the Company or any of its Subsidiaries, no employee of the Company or any
of its Subsidiaries has been granted the right to continued employment by the
Company or any of its Subsidiaries or to any material compensation following
termination of employment with the Company or any of its Subsidiaries.  Except as set forth on Schedule 4.14,
the Company is not aware that any officer, key employee or group of employees
intends to terminate his, her or their employment with the Company or any of
its Subsidiaries, nor does the Company or any of its Subsidiaries have a
present intention to terminate the employment of any officer, key employee or
group of employees.

4.15         Registration Rights and Voting
Rights.  Except as set forth on
Schedule 4.15 or except as disclosed in Exchange Act Filings, neither the
Company nor any of its Subsidiaries is presently under any obligation, and neither
the Company nor any of its Subsidiaries has granted any rights, to register any
of the Company’s or its Subsidiaries’ presently outstanding securities or any
of its securities that may hereafter be issued. 
Except as set forth on Schedule 4.15 or except as disclosed in
Exchange Act Filings, neither the Company nor any of its Subsidiaries has
entered into any agreement with respect to the voting of equity securities of
the Company or any of its Subsidiaries.

4.16         Compliance with Laws; Permits.  Neither the Company nor any of its
Subsidiaries is in violation of any applicable statute, rule, regulation, order
or restriction of any domestic or foreign government or any instrumentality or
agency thereof in respect of the conduct of its business or the ownership of
its properties which has had, or would reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect.  No governmental orders, permissions,
consents, approvals or authorizations are required to be obtained and no
registrations or declarations are required to be filed in connection with the
execution and delivery of this Agreement or any other Related Agreement and the
issuance of any of the Securities, except such as has been duly and validly
obtained or filed, or with respect to any filings that must be made after the
Closing, as will be filed in a timely manner. 
Each of the Company and its Subsidiaries has all material franchises,
permits, licenses and any similar authority necessary for the conduct of its
business as now being conducted by it, the lack of which would, either
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

4.17         Environmental and Safety Laws.  Neither the Company nor any of its
Subsidiaries is in violation of any applicable statute, law or regulation
relating to the environment or occupational health and safety, and to its
knowledge, no material expenditures are or will be required in order to comply
with any such existing statute, law or regulation.

 11
 

4.18         Valid Offering.  Assuming the accuracy of the representations
and warranties of the Purchasers contained in this Agreement, the offer, sale
and issuance of the Securities will be exempt from the registration
requirements of the Securities Act of 1933, as amended (the “Securities Act”),
and will have been registered or qualified (or are exempt from registration and
qualification) under the registration, permit or qualification requirements of
all applicable state securities laws.

4.19         Full Disclosure.  Each of the Company and each of its
Subsidiaries has provided the Purchasers with all information requested by the
Purchasers in connection with their decision to purchase the Term Note and the
Warrant, including all information the Company and its Subsidiaries believe is
reasonably necessary to make such investment decision.  Neither this Agreement, the Related
Agreements, or the exhibits and schedules hereto and thereto contain any untrue
statement of a material fact nor omit to state a material fact necessary in
order to make the statements contained herein or therein, in light of the
circumstances in which they are made, not misleading.  Any financial projections and other estimates
provided to the Purchasers by the Company or any of its Subsidiaries were based
on the Company’s and its Subsidiaries’ experience in the industry and on
assumptions of fact and opinion as to future events which the Company or any of
its Subsidiaries, at the date of the issuance of such projections or estimates,
believed to be reasonable.

4.20         Insurance.  Each of the Company and each of its
Subsidiaries has general commercial, product liability, fire and casualty
insurance policies with coverages which the Company believes are customary for
companies similarly situated to the Company and its Subsidiaries in the same or
similar business.

4.21         SEC Reports.  Except as set forth on Schedule 4.21,
the Company has filed all reports and other documents required to be filed by
it under the Securities Exchange Act 1934, as amended (the “Exchange Act”).  The Company has furnished the Purchasers with
copies of:  (i) its Annual Reports on
Form 10-KSB for its fiscal year ended June 30, 2005; and (ii) its
Quarterly Reports on Form 10-QSB for its fiscal quarter ended
September 30, 2005 and the Form 8-K filings which it has made during the
fiscal year 2006 to date (collectively, the “SEC Reports”). Except as set forth
on Schedule 4.21, each SEC Report was, at the time of its filing, in
substantial compliance with the requirements of its respective form and none of
the SEC Reports, nor the financial statements (and the notes thereto) included
in the SEC Reports, as of their respective filing dates, contained any untrue
statement of a material fact or omitted to state a material fact required to be
stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

4.22         Listing.  The Company’s Common Stock is listed for
trading on the Over the Counter Bulletin Board (“OTCBB”) and satisfies all
requirements for the continuation of such trading.  The Company has not received any notice that
its Common Stock will not be eligible to be traded on the OTCBB or that its
Common Stock does not meet all requirements for such trading.

4.23         No Integrated Offering.  Neither the Company, nor any of its
Subsidiaries or affiliates, nor any person acting on its or their behalf, has
directly or indirectly made any offers or sales of any security or solicited
any offers to buy any security under circumstances that 

 12
 

would cause the Offering to be integrated with prior
offerings by the Company for purposes of the Securities Act and which would
prevent the Company from selling the Securities pursuant to Rule 506 under the
Securities Act, or any applicable exchange-related stockholder approval
provisions, nor will the Company or any of its affiliates or Subsidiaries take
any action or steps that would cause the offering of the Securities to be
integrated with other offerings.

4.24         Stop Transfer.  The Securities are restricted securities as
of the date of this Agreement.  Neither
the Company nor any of its Subsidiaries will issue any stop transfer order or
other order impeding the sale and delivery of any of the Securities at such
time as the Securities are registered for public sale or an exemption from
registration is available, except as required by state and federal securities
laws.

4.25         Dilution.  The Company specifically acknowledges that,
its obligation to issue the shares of Common Stock upon conversion of the Term
Notes and exercise of the Warrants is binding upon the Company and enforceable
regardless of the dilution such issuance may have on the ownership interests of
other shareholders of the Company.

4.26         Patriot Act.  The Company certifies that, to the best of
Company’s knowledge, neither the Company nor any of its Subsidiaries has been
designated, and is not owned or controlled, by a “suspected terrorist” as
defined in Executive Order 13224.  The
Company hereby acknowledges that the Purchasers seek to comply with all
applicable laws concerning money laundering and related activities.  In furtherance of those efforts, the Company
hereby represents, warrants and agrees that: 
(i) none of the cash or property that the Company or any of its
Subsidiaries will pay or will contribute to the Purchasers has been or shall be
derived from, or related to, any activity that is deemed criminal under United
States law; and (ii) no contribution or payment by the Company or any of its
Subsidiaries to the Purchasers, to the extent that they are within the Company’s
and/or its Subsidiaries’ control shall cause the Purchasers to be in violation
of the United States Bank Secrecy Act, the United States International Money
Laundering Control Act of 1986 or the United States International Money
Laundering Abatement and Anti-Terrorist Financing Act of 2001.  The Company shall promptly notify the
Purchasers if any of these representations ceases to be true and accurate
regarding the Company or any of its Subsidiaries.  The Company agrees to provide the Purchasers
any additional information regarding the Company or any of its Subsidiaries
that the Purchasers deem necessary or convenient to ensure compliance with all
applicable laws concerning money laundering and similar activities.  The Company understands and agrees that if at
any time it is discovered that any of the foregoing representations are
incorrect, or if otherwise required by applicable law or regulation related to
money laundering or similar activities, the Purchasers may undertake
appropriate actions to ensure compliance with such applicable law or
regulation, including but not limited to segregation and/or redemption of the
Purchasers’ investment in the Company. 
The Company further understands that the Purchasers may release
confidential information about the Company and its Subsidiaries and, if
applicable, any underlying beneficial owners, to proper authorities if the
Purchasers, in their sole reasonable discretion, after consultation with legal
counsel, determine that it is in the best interests of the Purchasers in light
of relevant rules and regulations under the laws set forth in subsection (ii)
above.

5.             Representations and Warranties
of the Purchaser.  Each Purchaser,
severally and not jointly, hereby represents and warrants to the Company as
follows (such representations and 

 13
 

warranties do not lessen or obviate the
representations and warranties of the Company set forth in this Agreement):

5.1           No Shorting.  Such Purchaser or any of its affiliates and
investment partners have not, will not and will not cause any person or entity
to directly engage in “short sales” of the Company’s Common Stock as long as
the Term Notes or any Warrants shall be outstanding.

5.2           Organization, Good Standing and
Qualification.  Each of the
Purchasers is a corporation, partnership, limited duration company or limited
liability company, as the case may be, duly organized, validly existing and in
good standing under the laws of its jurisdiction of organization. Each of the
Purchasers has the corporate, partnership, limited duration company or limited
liability company, as the case may be, power and authority to own and operate
its properties and assets, to execute and deliver (i) this Agreement, (ii) the
Term Notes and the Warrants to be issued in connection with this Agreement,
(iii) the Registration Rights Agreement relating to the Securities dated as of
the date hereof among the Company and the Purchasers (as amended, modified or
supplemented from time to time, the “Registration Rights Agreement”), (iv) the
Escrow Agreement dated as of the date hereof among the Company, the Purchasers
and the escrow agent referred to therein, substantially in the form of Exhibit
D hereto (as amended, modified or supplemented from time to time, the “Escrow
Agreement”), and (v) all other agreements related to this Agreement and the
Term Note and referred to herein (the preceding clauses (ii) through (iv), the
Subsidiary Guaranty dated as of May 19, 2005 made by certain Subsidiaries
of the Company (as amended, modified or supplemented from time to time, the “Subsidiary
Guaranty”), the Stock Pledge Agreement dated as of May 19, 2005 among the
Company, certain Subsidiaries of the Company and the Purchasers (as amended,
modified or supplemented from time to time, the “Stock Pledge Agreement”), and
the Subordination Agreement dated as of May 19, 2005 among the Purchasers
and the subordinated creditors party thereto, and acknowledged and agreed to by
the Company (as amended, modified or supplemented from time to time, the
Subordination Agreement”), collectively, the “Related Agreements”), to purchase
the Term Notes and the shares of Common Stock issuable upon conversion of the
Term Notes (the “Note Shares”), to purchase the Warrants and the Warrant
Shares, and, to carry out the provisions of this Agreement and the Related
Agreements.  Each of the Purchasers is
duly qualified and is authorized to do business and is in good standing as a
foreign corporation, partnership, limited duration company or limited liability
company, as the case may be, in such Purchasers jurisdictions of organization.

5.3           Requisite Power and Authority.  Such Purchaser has all necessary power and
authority under all applicable provisions of law to execute and deliver this
Agreement and the Related Agreements and to carry out their provisions.  All company action on such Purchaser’s part
required for the lawful execution and delivery of this Agreement and the
Related Agreements has been or will be effectively taken prior to the Closing.
Upon their execution and delivery, this Agreement and the Related Agreements
will be valid and binding obligations of such Purchaser, enforceable in
accordance with their terms, except:

(a)           as limited by applicable bankruptcy,
insolvency, reorganization, moratorium or other laws of general application
affecting enforcement of creditors’ rights; and

 14
 

(b)           as limited by general principles of
equity that restrict the availability of equitable and legal remedies.

5.4           Investment Representations.  Such Purchaser understands that the
Securities are being offered and sold pursuant to an exemption from
registration contained in the Securities Act based in part upon such Purchaser’s
representations contained in this Agreement, including, without limitation,
that such Purchaser is an “accredited investor” within the meaning of
Regulation D under the Securities Act. Such Purchaser confirms that it has
received or has had full access to all the information it considers necessary
or appropriate to make an informed investment decision with respect to the Term
Note and the Warrant to be purchased by it under this Agreement and the Note
Shares and the Warrant Shares acquired by it upon the conversion of such Term
Note and the exercise of such Warrant, respectively. Such Purchaser further confirms
that it has had an opportunity to ask questions and receive answers from the
Company regarding the Company’s and its Subsidiaries’ business, management and
financial affairs and the terms and conditions of the Offering, the Term Notes,
the Warrants and the Securities.

5.5           The Purchasers Bear Economic Risk.  Such Purchaser has substantial experience in
evaluating and investing in private placement transactions of securities in
companies similar to the Company so that it is capable of evaluating the merits
and risks of its investment in the Company and has the capacity to protect its
own interests. Such Purchaser acknowledges and agrees that it must bear the
economic risk of this investment until the Securities are sold pursuant to: (i)
an effective registration statement under the Securities Act; or (ii) an
applicable exemption from registration with respect to such sale.

5.6           Acquisition for Own Account.  Such Purchaser is acquiring its Term Notes
and Warrant and the Note Shares and the Warrant Shares for such Purchaser’s own
account for investment only, and not as a nominee or agent and not with a view
towards or for resale in connection with their distribution.

5.7           The Purchasers Can Protect Their
Interest.  Such Purchaser represents
that by reason of its, or of its management’s, business and financial
experience, such Purchaser has the capacity to evaluate the merits and risks of
its investment in its Term Notes, Warrant and the Securities and to protect its
own interests in connection with the transactions contemplated in this
Agreement and the Related Agreements. 
Further, such Purchaser is aware of no publication of any advertisement
in connection with the transactions contemplated in this Agreement or the
Related Agreements.

5.8           Accredited Investor.  Such Purchaser represents that it is an
accredited investor within the meaning of Regulation D under the Securities
Act.

5.9           Legends.

(a)           The Term Notes shall bear
substantially the following legend:

“THIS TERM NOTE AND THE
COMMON STOCK ISSUABLE UPON CONVERSION OF THIS TERM NOTE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE
STATE SECURITIES LAWS. 

 15
 

THIS TERM NOTE AND THE
COMMON STOCK ISSUABLE UPON CONVERSION OF THIS TERM NOTE MAY NOT BE SOLD,
OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT AS TO THIS TERM NOTE OR SUCH SHARES UNDER SAID ACT AND
APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO CORGENIX MEDICAL CORPORATION THAT SUCH REGISTRATION IS NOT
REQUIRED.”

(b)           The Note Shares and the Warrant
Shares, shall bear a legend which shall be in substantially the following form
until such shares are covered by an effective registration statement filed with
the Securities and Exchange Commission (the “SEC”):

“THE SHARES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS. THESE SHARES MAY NOT BE
SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT UNDER SUCH SECURITIES ACT AND APPLICABLE STATE LAWS OR
AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO CORGENIX MEDICAL CORPORATION
THAT SUCH REGISTRATION IS NOT REQUIRED.”

(c)           The Warrant shall bear substantially
the following legend:

“THIS WARRANT AND THE
COMMON SHARES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE
SECURITIES LAWS. THIS WARRANT AND THE COMMON SHARES ISSUABLE UPON EXERCISE OF
THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE
ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT OR THE
UNDERLYING SHARES OF COMMON STOCK UNDER SAID ACT AND APPLICABLE STATE
SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO CORGENIX
MEDICAL CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED.”

6.             Covenants of the Company.  The Company covenants and agrees with the
Purchasers as follows:

6.1           Stop-Orders.  The Company will advise the Purchasers,
promptly after it receives notice of issuance by the SEC, any state securities
commission or any other regulatory authority of any stop order or of any order
preventing or suspending any offering of any 

 16
 

securities of the Company, or of the suspension of the
qualification of the Common Stock of the Company for offering or sale in any
jurisdiction, or the initiation of any proceeding for any such purpose.

6.2           Authorization and Listing.  The Company does not currently have enough
shares of Common Stock authorized to provide in full for the exercise of the
Warrants or the conversion of the Term Notes. 
The Company covenants that it shall use its best efforts to prepare and
file a proxy statement with the SEC as soon as possible after the date of this
Agreement, with respect to a special meeting of its stockholders (the “Special
Meeting”) to consider the Share Increase Amendment (as hereinafter
defined).  If the Company receives any
SEC comments on such proxy statement, it will use its best efforts to resolve
all comments as soon as possible after receipt thereof.  The Company will promptly mail the proxy
statement and notice of meeting to its stockholders as soon as practicable.  The Company will hold the Special Meeting as
soon as practicable thereafter, but in any event within 90 days after the date
of this Agreement, to authorize a sufficient number of shares to include that
number of shares issuable upon conversion of the Term Notes and upon the
exercise of Warrants by voting upon an amendment to the Articles of
Incorporation increasing the number of authorized shares of Common Stock from
the current 40,000,000 to 100,000,000 (the “Share Increase Amendment”).  The proxy statement describing the Share
Increase Amendment will be provided to the Purchasers in advance of filing for
review and comment, and the Company will consider in good faith any reasonable
revisions suggested by the Purchasers. 
The Company’s shares of Common Stock issuable upon conversion of the
Term Notes and upon the exercise of the Warrants will be listed on the OTCBB
(the “Principal Market”) within 90 days after the date of this Agreement and
the Company shall maintain such listing on the Principal Market so long as any
other shares of Common Stock shall be so listed. The Company will maintain the
listing of its Common Stock on the Principal Market, and will comply in all
material respects with its reporting, filing and other obligations.

6.3           Market Regulations.  The Company shall notify the SEC, NASD and
applicable state authorities, in accordance with their requirements, of the
transactions contemplated by this Agreement, and shall take all other necessary
action and proceedings as may be required and permitted by applicable law, rule
and regulation, for the legal and valid issuance of the Securities to the
Purchasers and promptly provide copies thereof to the Purchasers.

6.4           Reporting Requirements.  The Company will timely file with the SEC all
reports required to be filed pursuant to the Exchange Act and refrain from terminating
its status as an issuer required by the Exchange Act to file reports thereunder
even if the Exchange Act or the rules or regulations thereunder would permit
such termination.

6.5           Use of Funds.  The Company agrees that it will use the
proceeds of the sale of the Term Notes and the Warrants for the purposes
specified on Schedule 6.5 only.

6.6           Access to Facilities.  The Company and each of its Subsidiaries will
permit any representatives designated by any Purchaser (or any successor of
such Purchaser), upon reasonable notice and during normal business hours, at
such person’s expense and accompanied by a representative of the Company, to:

 17
 

(a)           visit and inspect any of the
properties of the Company or any of its Subsidiaries;

(b)           examine the corporate and financial
records of the Company or any of its Subsidiaries (unless such examination is
not permitted by federal, state or local law or by contract) and make copies
thereof or extracts therefrom; and

(c)           discuss the affairs, finances and
accounts of the Company or any of its Subsidiaries with the directors, officers
and independent accountants of the Company or any of its Subsidiaries.

Notwithstanding the
foregoing, neither the Company nor any of its Subsidiaries will provide any
material, non-public information to any Purchaser unless such Purchaser signs a
confidentiality agreement and otherwise complies with Regulation FD under the
federal securities laws.

6.7           Taxes.  Each of the Company and each of its
Subsidiaries will promptly pay and discharge, or cause to be paid and
discharged, when due and payable, all lawful taxes, assessments and
governmental charges or levies imposed upon the income, profits, property or
business of the Company and its Subsidiaries; provided, however, that any such
tax, assessment, charge or levy need not be paid if the validity thereof shall
be contested in good faith by appropriate proceedings and if the Company and/or
such Subsidiary shall have set aside on its books adequate reserves with
respect thereto, and provided, further, that the Company and its Subsidiaries
will pay all such taxes, assessments, charges or levies forthwith upon the
commencement of proceedings to foreclose any lien which may have attached as
security therefor.

6.8           Insurance.  Each of the Company and its Subsidiaries will
keep its assets which are of an insurable character insured by financially
sound and reputable insurers against loss or damage by fire, explosion and
other risks customarily insured against by companies in similar businesses
similarly situated as the Company and its Subsidiaries; and the Company and its
Subsidiaries will maintain, with financially sound and reputable insurers,
insurance against other hazards and risks and liability to persons and property
to the extent and in the manner which the Company reasonably believes is
customary for companies in similar businesses similarly situated as the Company
and its Subsidiaries and to the extent available on commercially reasonable
terms. The Company and each of its Subsidiaries will jointly and severally bear
the full risk of loss from any loss of any nature whatsoever with respect to
the assets pledged to the Purchaser as security for their obligations hereunder
and under the Related Agreements. At the Company’s and each of its Subsidiaries’
joint and several cost and expense in amounts and with carriers reasonably
acceptable to the Purchasers, the Company and each of its Subsidiaries shall
(i) keep all their insurable properties and properties in which they have an
interest insured against the hazards of fire, flood, sprinkler leakage, those
hazards covered by extended coverage insurance and such other hazards, and for
such amounts, as is customary in the case of companies engaged in businesses
similar to the Company’s or the respective Subsidiary’s including business
interruption insurance; (ii) maintain a bond in such amounts as is customary in
the case of companies engaged in businesses similar to the Company’s or the
respective Subsidiary’s insuring against larceny, embezzlement or other criminal
misappropriation of insured’s officers and employees who may either singly or
jointly with 

 18
 

others at any time have access to the assets or funds
of the Company or any of its Subsidiaries either directly or through
governmental authority to draw upon such funds or to direct generally the
disposition of such assets; (iii) maintain public and product liability
insurance against claims for personal injury, death or property damage suffered
by others; (iv) maintain all such worker’s compensation or similar insurance as
may be required under the laws of any state or jurisdiction in which the
Company or the respective Subsidiary is engaged in business; and (v) furnish
the Purchasers with (x) copies of all policies and evidence of the maintenance
of such policies at least thirty (30) days before any expiration date, (y)
excepting the Company’s workers’ compensation policy, endorsements to such
policies naming the Purchasers as “co-insured” or “additional insured” and
appropriate loss payable endorsements in form and substance satisfactory to the
Purchasers, naming the Purchasers as loss payees, and (z) evidence that as to
the Purchasers the insurance coverage shall not be impaired or invalidated by
any act or neglect of the Company or any Subsidiary and the insurer will
provide the Purchasers with at least thirty (30) days notice prior to
cancellation.  The Company and each
Subsidiary shall instruct the insurance carriers that in the event of any loss
thereunder, the carriers shall make payment for such loss to the Company and/or
the Subsidiary and the Purchasers jointly. 
In the event that as of the date of receipt of each loss recovery upon
any such insurance, the Purchasers have not declared an event of default with respect
to this Agreement or any of the Related Agreements, then the Company and/or
such Subsidiary shall be permitted to direct the application of such loss
recovery proceeds toward investment in property, plant and equipment that would
comprise “Collateral” secured by the Purchasers’ security interest pursuant to
its security agreement, with any surplus funds to be applied toward payment of
the obligations of the Company to the Purchasers.  In the event that the Purchasers have
properly declared an event of default with respect to this Agreement or any of
the Related Agreements, then all loss recoveries received by the Purchasers
upon any such insurance thereafter may be applied to the obligations of the
Company hereunder and under the Related Agreements, in such order as the
Purchasers may determine. Any surplus (following satisfaction of all Company
obligations to the Purchasers) shall be paid by the Purchasers to the Company
or applied as may be otherwise required by law. 
Any deficiency thereon shall be paid by the Company or the Subsidiary, as
applicable, to the Purchasers, on demand.

6.9           Intellectual Property.  Each of the Company and each of its
Subsidiaries shall maintain in full force and effect its existence, rights and
franchises and all licenses and other rights to use Intellectual Property owned
or possessed by it and reasonably deemed to be necessary to the conduct of its
business.

6.10         Properties.  Each of the Company and each of its
Subsidiaries will keep its properties in good repair, working order and
condition, reasonable wear and tear excepted, and from time to time make all
needful and proper repairs, renewals, replacements, additions and improvements
thereto; and each of the Company and each of its Subsidiaries will at all times
comply with each provision of all leases to which it is a party or under which
it occupies property if the breach of such provision would, either individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect.

6.11         Confidentiality.  The Company agrees that it will not disclose,
and will not include in any public announcement, the names of the Purchasers,
unless expressly agreed to by the Purchasers or unless and until such
disclosure is required by law or applicable regulation, and 

 19
 

then only to the extent of such requirement.  Notwithstanding the foregoing, the Company may
disclose the Purchasers’ identity and the terms of this Agreement to its
current and prospective debt and equity financing sources.  Notwithstanding the provisions of this
section, the Purchasers consent to the Company’s filing of this Agreement and
the Related Agreements as exhibits to its Form 8-K.

6.12         Required Approvals.  For so long as twenty-five percent (25%) of
the aggregate principal amount of the Term Notes and the Term Notes dated as of
May 19, 2005 are outstanding, the Company, without the prior written consent of
the Purchasers, shall not, and shall not permit any of its Subsidiaries to:

(a)           (i) directly or indirectly declare or
pay any dividends, other than dividends paid to the Company or any of its
wholly-owned Subsidiaries, (ii) issue any preferred stock that is mandatorily
redeemable prior to the one year anniversary of Maturity Date (as defined in
the Term Notes) or (iii) redeem any of its preferred stock or other equity
interests;

(b)           liquidate, dissolve or effect a
material reorganization (it being understood that in no event shall the Company
dissolve, liquidate or merge with any other person or entity (unless the
Company is the surviving entity);

(c)           become subject to (including, without
limitation, by way of amendment to or modification of) any agreement or
instrument which by its terms would (under any circumstances) restrict the
Company’s or any of its Subsidiaries’ right to perform the provisions of this
Agreement, any Related Agreement or any of the agreements contemplated hereby
or thereby;

(d)           materially alter or change the scope
of the business of the Company and its Subsidiaries taken as a whole;

(e)           (i) create, incur, assume or suffer
to exist any indebtedness (exclusive of debt incurred to finance the purchase
of equipment not in excess of five percent (5%) of the fair market value of the
Company’s and its Subsidiaries’ assets) whether secured or unsecured other than
(x) the Company’s indebtedness to the Purchasers, (y) indebtedness set forth on
Schedule 6.12(e) attached hereto and made a part hereof and any
refinancings or replacements thereof on terms no less favorable to the Company
than the indebtedness being refinanced or replaced, and (z) any debt incurred
in connection with the purchase of assets in the ordinary course of business,
or any refinancings or replacements thereof on terms no less favorable to the
Company than the indebtedness being refinanced or replaced; (ii) cancel any
debt owing to it in excess of $50,000 in the aggregate during any 12 month
period; (iii) assume, guarantee, endorse or otherwise become directly or
contingently liable in connection with any obligations of any other Person,
except the endorsement of negotiable instruments by the Company for deposit or
collection or similar transactions in the ordinary course of business or
guarantees of indebtedness otherwise permitted to be outstanding pursuant to
this clause (e); and

 

 20

(f)            create or acquire any Subsidiary
after the date hereof unless (i) such Subsidiary is a wholly-owned Subsidiary
of the Company and (ii) such Subsidiary becomes party to the Term Note Security
Agreement, the Stock Pledge Agreement and the Subsidiary Guaranty (either by
executing a counterpart thereof or an assumption or joinder agreement in
respect thereof) and, to the extent required by the Purchasers, satisfies each
condition of this Agreement and the Related Agreements as if such Subsidiary
were a Subsidiary on the Closing Date.

6.13         Repayment of Indebtedness.  The Company agrees that if and for so long as
it shall have less than $500,000 in cash, it shall not make any payments of
principal or interest on any indebtedness other than the Company’s indebtedness
to the Purchasers.

6.14         Reissuance of Securities.  The Company agrees to reissue certificates
representing the Securities without the legends set forth in Section 5.8 above
at such time as:

(a)           the holder thereof is permitted to
dispose of such Securities pursuant to Rule 144(k) under the Securities Act; or

(b)           upon resale subject to an effective
registration statement after such Securities are registered under the
Securities Act.

The Company agrees to
cooperate with the Purchasers in connection with all resales pursuant to Rule
144(d) and Rule 144(k) and provide legal opinions necessary to allow such
resales provided the Company and its counsel receive reasonably requested
representations from the selling Purchaser and the broker, if any.

6.15         Opinion.  On the Closing Date, the Company will deliver
to the Purchasers an opinion acceptable to the Purchasers from the Company’s
external legal counsel. The Company will provide, at the Company’s expense,
such other legal opinions in the future as are deemed reasonably necessary by
any Purchaser (and acceptable to such Purchaser) in connection with the
conversion of the Term Notes and exercise of the Warrants.

6.16         Margin Stock.  The Company will not permit any of the
proceeds of the Term Note or the Warrant to be used directly or indirectly to “purchase”
or “carry” “margin stock” or to repay indebtedness incurred to “purchase” or “carry”
“margin stock” within the respective meanings of each of the quoted terms under
Regulation U of the Board of Governors of the Federal Reserve System as now and
from time to time hereafter in effect.

6.17         [Reserved.]

6.18         Financing Right of First Refusal.  (a) 
The Company hereby grants to the Purchasers a right of first refusal to
provide any Additional Financing (as defined below) to be issued by the Company
and/or any of its Subsidiaries, subject to the following terms and conditions.
From and after the date hereof,  prior to
the incurrence of any additional indebtedness and/or the sale or issuance of
any equity interests of the Company or any of its Subsidiaries (other than
pursuant to employee benefit plans or the exercise or conversion of securities
outstanding on the date hereof) (an “Additional Financing”), the Company and/or
any Subsidiary of the Company, as the case may be, shall notify the Purchasers
of its intention to enter into such 

 21
 

Additional Financing. In connection therewith, the
Company and/or the applicable Subsidiary thereof shall submit a term sheet (a “Proposed
Term Sheet”) to the Purchasers setting forth the terms, conditions and pricing
of any such Additional Financing (such financing to be negotiated on “arm’s
length” terms and the terms thereof to be negotiated in good faith) proposed to
be entered into by the Company and/or such Subsidiary. The Purchasers (or one
or more thereof) shall have the right, but not the obligation, to deliver their
own proposed term sheet (the “Purchasers Term Sheet”) setting forth the terms
and conditions upon which the Purchasers (or one or more thereof) would be
willing to provide such Additional Financing to the Company and/or such
Subsidiary. The Purchasers Term Sheet shall contain terms no less favorable to
the Company and/or such Subsidiary than those outlined in the Proposed Term
Sheet. The Purchasers (or one or more thereof) shall deliver such Purchasers
Term Sheet within ten business days of receipt of each such Proposed Term
Sheet.  If the provisions of the
Purchasers Term Sheet are at least as favorable to the Company and/or such
Subsidiary, as the case may be, as the provisions of the Proposed Term Sheet,
the Company and/or such Subsidiary shall enter into and consummate the
Additional Financing transaction outlined in the Purchasers Term Sheet.

(b)           The Company will not, and will not
permit its Subsidiaries to, agree, directly or indirectly, to any restriction
with any person or entity which limits the ability of the Purchasers to
consummate an Additional Financing with the Company or any of its Subsidiaries.

6.19         [Reserved.]

6.20         Net Worth.  The Company shall maintain a minimum tangible
net worth in accordance with generally accepted accounting principles in effect
from time to time in the United States of America (“GAAP”) of $0 for so long as
it has obligations to the Purchasers under this Agreement and the Related Agreements.

6.21         Retention of Investor
Relations/Public Relations Firm and Program.  The Company shall retain an investor
relations firm/public relations firm approved by the Purchasers for so long as
the Company has obligations to the Purchasers under this Agreement and the
Related Agreements.  Such investor
relations firm’s/public relations firm’s budget and program must be approved in
advance by the Purchasers for so long as the Company has obligations to the
Purchasers under this Agreement and the Related Agreements.

7.             Covenants of the Purchasers.  Each Purchaser, severally and not jointly,
covenants and agrees with the Company as follows:

7.1           Confidentiality.  Such Purchaser agrees that it will not
disclose, and will not include in any public announcement, the name of the
Company, unless expressly agreed to by the Company or unless and until such
disclosure is required by law or applicable regulation, and then only to the
extent of such requirement.

7.2           Non-Public Information.  Such Purchaser agrees not to effect any sales
of the shares of the Company’s Common Stock while in possession of material,
non-public information regarding the Company if such sales would violate
applicable securities law.

 22
 

7.3           Amendment to Articles of
Incorporation.  The Purchasers hereby
agree to vote any shares of capital stock of the Company that they may own,
directly or beneficially, for the Share Increase Amendment referenced in
Section 6.2.  To the extent that the
shares of Common Stock issuable upon a Purchaser’s request to convert any
portion of a Term Note or to exercise any portion of a Warrant would exceed the
number of shares of authorized and unissued Common Stock, until approval,
adoption and effectiveness of the Share Increase Amendment by the Company’s
shareholders, any such attempted conversion or exercise shall be null and void.

8.             Covenants of the Company and the
Purchasers Regarding Indemnification.

8.1           Company Indemnification.  The Company agrees to indemnify, hold
harmless, reimburse and defend the Purchasers and each of the Purchasers’
officers, directors, agents, affiliates, control persons, and principal
shareholders, against any claim, cost, expense, liability, obligation, loss or
damage (including reasonable legal fees) of any nature, incurred by or imposed upon
the Purchasers which results, arises out of or is based upon: (i) any
misrepresentation by the Company or any of its Subsidiaries or breach of any
warranty by the Company or any of its Subsidiaries in this Agreement, any other
Related Agreement or in any exhibits or schedules attached hereto or thereto;
or (ii) any breach or default in performance by the Company or any of its
Subsidiaries of any covenant or undertaking to be performed by the Company or
any of its Subsidiaries hereunder, under any other Related Agreement or any
other agreement entered into by the Company and/or any of its Subsidiaries and
the Purchasers relating hereto or thereto.

8.2           The Purchasers’ Indemnification.  Each Purchaser agrees to indemnify, hold
harmless, reimburse and defend the Company and each of the Company’s officers,
directors, agents, affiliates, control persons and principal shareholders,
against any claim, cost, expense, liability, obligation, loss or damage
(including reasonable legal fees) of any nature, incurred by or imposed upon
the Company which results, arises out of or is based upon:  (i) any misrepresentation by such Purchaser
or breach of any warranty by such Purchaser in this Agreement or in any
exhibits or schedules attached hereto or any Related Agreement; or (ii) any
breach or default in performance by such Purchaser of any covenant or
undertaking to be performed by such Purchaser hereunder, or under any other
Related Agreement.

9.             Conversion
of Convertible Term Notes.

9.1           Mechanics
of Conversion.

(a)           Provided any Purchaser has notified
the Company of such Purchaser’s intention to sell the Note Shares and the Note
Shares are included in an effective registration statement or are otherwise
exempt from registration when sold:  (i)
upon the conversion of a Term Note or part thereof, the Company shall, at its
own cost and expense, take all necessary action (including the issuance of an
opinion of counsel reasonably acceptable to such Purchaser following a request
by such Purchaser) to assure that the Company’s transfer agent shall issue
shares of the Company’s Common Stock in the name of such Purchaser (or its
nominee) or such other persons as designated by such Purchaser in accordance
with Section 9.1(b) hereof and in such denominations to be specified representing
the number of Note Shares issuable upon such conversion; and (ii) 

 23
 

the Company warrants that no instructions other than
these instructions have been or will be given to the transfer agent of the
Company’s Common Stock and that after the Effectiveness Date (as defined in the
Registration Rights Agreement) the Note Shares issued will be freely
transferable subject to the prospectus delivery requirements of the Securities
Act and the provisions of this Agreement, and will not contain a legend
restricting the resale or transferability of the Note Shares.

(b)           Each Purchaser will give notice of
its decision to exercise its right to convert its Term Note or part thereof by
telecopying or otherwise delivering an executed and completed notice of the
number of shares to be converted to the Company (the “Notice of Conversion”).
Such Purchaser will not be required to surrender its Term Note until such
Purchaser receives a credit to the account of the Purchaser’s prime broker
through the DWAC system (as defined below), representing the Note Shares or
until its Term Note has been fully satisfied. 
Each date on which a Notice of Conversion is telecopied or delivered to
the Company in accordance with the provisions hereof shall be deemed a “Conversion
Date.”  Pursuant to the terms of the
Notice of Conversion, the Company will issue instructions to the transfer agent
accompanied by an opinion of counsel within two (2) business days of the date
of the delivery to the Company of the  Notice
of Conversion  and shall cause the
transfer agent to transmit the certificates representing the Conversion Shares
to the Holder by crediting the account of such Purchaser’s prime broker with
The Depository Trust Company (“DTC”) through its Deposit Withdrawal Agent
Commission (“DWAC”) system within three (3) business days after receipt by the
Company of the Notice of Conversion (the “Delivery Date”).

(c)           The Company understands that a delay
in the delivery of the Note Shares in the form required pursuant to Section 9
hereof beyond the Delivery Date could result in economic loss to the
Purchasers.  In the event that the
Company fails to direct its transfer agent to deliver the Note Shares to any
Purchaser via the DWAC system within the time frame set forth in Section 9.1(b)
above and the Note Shares are not delivered to such Purchaser by the Delivery
Date, as compensation to such Purchaser for such loss, the Company agrees to
pay late payments to such Purchaser for late issuance of the Note Shares in the
form required pursuant to Section 9 hereof upon conversion of its Term Note in
the amount equal to the greater of:  (i)
$250 per business day after the Delivery Date; or (ii) such Purchaser’s actual
damages from such delayed delivery. Notwithstanding the foregoing, the Company
will not owe a Purchaser any late payments if the delay in the delivery of the
Note Shares beyond the Delivery Date is solely out of the control of the
Company and the Company is actively trying to cure the cause of the delay.  The Company shall pay any payments incurred under
this Section in immediately available funds upon demand and, in the case of
actual damages, accompanied by reasonable documentation of the amount of such
damages.  Such documentation shall show
the number of shares of Common Stock such Purchaser is forced to purchase (in
an open market transaction) which such Purchaser anticipated receiving upon
such conversion, and shall be calculated as the amount by which (A) such
Purchaser’s total purchase price (including customary brokerage commissions, if
any) for the shares of Common Stock so purchased exceeds (B) the aggregate
principal and/or interest amount of its Term Note, for which such Conversion
Notice was not timely honored.

 24
 

Nothing contained herein
or in any document referred to herein or delivered in connection herewith shall
be deemed to establish or require the payment of a rate of interest or other
charges in excess of the maximum permitted by applicable law.  In the event that the rate of interest or
dividends required to be paid or other charges hereunder exceed the maximum
amount permitted by such law, any payments in excess of such maximum shall be
credited against amounts owed by the Company to the Purchasers and thus
refunded to the Company.

10.           Registration Rights.

10.1         Registration Rights Granted.  The Company hereby grants registration rights
to the Purchasers pursuant to the Registration Rights Agreement dated as of
even date herewith among the Company and the Purchasers.

10.2         Offering Restrictions.  Except as previously disclosed in the SEC
Reports or in the Exchange Act Filings, or stock or stock options granted to
employees or directors of the Company (these exceptions hereinafter referred to
as the “Excepted Issuances”), neither the Company nor any of its Subsidiaries
will issue any securities with a continuously variable/floating conversion
feature which are or could be (by conversion or registration) free-trading
securities (i.e. common stock subject to a registration statement) prior to the
full repayment or conversion of the Term Note (together with all accrued and
unpaid interest and fees related thereto) (the “Exclusion Period”).

11.           Miscellaneous.

11.1         Governing Law.  THIS AGREEMENT AND EACH RELATED AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS.  ANY ACTION BROUGHT BY EITHER PARTY AGAINST
THE OTHER CONCERNING THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT AND EACH
RELATED AGREEMENT SHALL BE BROUGHT ONLY IN THE STATE COURTS OF NEW YORK OR IN
THE FEDERAL COURTS LOCATED IN THE STATE OF NEW YORK.  BOTH PARTIES AND THE INDIVIDUALS EXECUTING
THIS AGREEMENT AND THE RELATED AGREEMENTS ON BEHALF OF THE COMPANY AGREE TO
SUBMIT TO THE JURISDICTION OF SUCH COURTS AND WAIVE TRIAL BY JURY.  IN THE EVENT THAT ANY PROVISION OF THIS
AGREEMENT OR ANY RELATED AGREEMENT DELIVERED IN CONNECTION HEREWITH IS INVALID
OR UNENFORCEABLE UNDER ANY APPLICABLE STATUTE OR RULE OF LAW, THEN SUCH
PROVISION SHALL BE DEEMED INOPERATIVE TO THE EXTENT THAT IT MAY CONFLICT
THEREWITH AND SHALL BE DEEMED MODIFIED TO CONFORM WITH SUCH STATUTE OR RULE OF
LAW.  ANY SUCH PROVISION WHICH MAY PROVE
INVALID OR UNENFORCEABLE UNDER ANY LAW SHALL NOT AFFECT THE VALIDITY OR
ENFORCEABILITY OF ANY OTHER PROVISION OF THIS AGREEMENT OR ANY RELATED
AGREEMENT.

11.2         Survival.  The representations, warranties, covenants
and agreements made herein shall survive any investigation made by the
Purchasers and the closing of the transactions contemplated hereby to the
extent provided therein. All statements as to factual 

 25
 

matters contained in any certificate or other
instrument delivered by or on behalf of the Company pursuant hereto in
connection with the transactions contemplated hereby shall be deemed to be
representations and warranties by the Company hereunder solely as of the date
of such certificate or instrument.

11.3         Successors.  Except as otherwise expressly provided
herein, the provisions hereof shall inure to the benefit of, and be binding
upon, the successors, heirs, executors and administrators of the parties hereto
and shall inure to the benefit of and be enforceable by each person who shall
be a holder of the Securities from time to time, other than the holders of
Common Stock which has been sold by such Purchaser pursuant to Rule 144 or an
effective registration statement. The Purchasers may not assign their rights
hereunder to a competitor of the Company.

11.4         Entire Agreement.  This Agreement, the Related Agreements, the
exhibits and schedules hereto and thereto and the other documents delivered
pursuant hereto constitute the full and entire understanding and agreement
between the parties with regard to the subjects hereof and no party shall be
liable or bound to any other in any manner by any representations, warranties,
covenants and agreements except as specifically set forth herein and therein.

11.5         Amendment
and Waiver.

(a)           This Agreement may be amended or
modified only upon the written consent of the Company and each of the
Purchasers.

(b)           The obligations of the Company and
the rights of the Purchasers under this Agreement may be waived only with the
unanimous written consent of the Purchasers.

(c)           The obligations of the Purchasers and
the rights of the Company under this Agreement may be waived only with the
written consent of the Company.

11.6         Delays or Omissions.  It is agreed that no delay or omission to
exercise any right, power or remedy accruing to any party, upon any breach,
default or noncompliance by another party under this Agreement or the Related
Agreements, shall impair any such right, power or remedy, nor shall it be
construed to be a waiver of any such breach, default or noncompliance, or any
acquiescence therein, or of or in any similar breach, default or noncompliance
thereafter occurring.  All remedies,
either under this Agreement or the Related Agreements, by law or otherwise
afforded to any party, shall be cumulative and not alternative.

11.7         Notices.  All notices required or permitted hereunder
shall be in writing and shall be deemed effectively given:

(a)           upon personal delivery to the party
to be notified;

(b)           when sent by confirmed facsimile if
sent during normal business hours of the recipient, if not, then on the next
business day;

(c)           three (3) business days after having
been sent by registered or certified mail, return receipt requested, postage
prepaid; or

 26
 

(d)           one (1) day after deposit with a
nationally recognized overnight courier, specifying next day delivery, with
written verification of receipt.

All communications shall
be sent as follows:

	
  If to the Company, to:

  	
  Corgenix Medical Corporation 

  12061 Tejon Street 

  Westminster, CO 80234 

  Attention:Chief Financial Officer 

  Facsimile:

  
	
   

  	
   

  
	
  With a
  copy to:

  	
  Otten, Johnson, Robinson, Neff & Ragonetti, P.C.
  

  950 Seventeenth Street, Suite 1600 

  Denver, CO 80202 

  Attention: Robert Attai and Steven Segal

  
	
   

  	
   

  
	
  If to a
  Truk Opportunity or Truk International:

  	
  c/o RAM Capital Resources, LLC 

  One East 52nd Street 

  Sixth Floor 

  New York, NY 10022 

  Facsimile:(212) 888-0334

  
	
   

  	
   

  
	
  If to
  CAMOFI:

  	
  350 Madison Avenue 

  New York, NY 10017

  
	
   

  	
   

  
	
   

  	
  for Truk Opportunity, Truk International and
  CAMOFI with a copy to:

  
	
   

  	
   

  
	
   

  	
  Torys LLP 

  237 Park Avenue, 20th Floor 

  New York, NY 10017 

  Attention:Andrew J. Beck, Esq. 

  Facsimile:(212) 682-0200 

  E-mail:abeck@torys.com

  

 

or at such other address
as the Company or such Purchaser may designate by written notice to the other
parties hereto given in accordance herewith.

11.8         Attorneys’ Fees.  In the event that any suit or action is
instituted to enforce any provision in this Agreement, the prevailing party in
such dispute shall be entitled to recover from the losing party all fees, costs
and expenses of enforcing any right of such prevailing party under or with
respect to this Agreement, including, without limitation, such reasonable fees
and expenses of attorneys and accountants, which shall include, without
limitation, all fees, costs and expenses of appeals.

 27
 

11.9         Titles and Subtitles.  The titles of the sections and subsections of
this Agreement are for convenience of reference only and are not to be
considered in construing this Agreement.

11.10       Facsimile Signatures; Counterparts.  This Agreement may be executed by facsimile
signatures and in any number of counterparts, each of which shall be an
original, but all of which together shall constitute one instrument.

11.11       Broker’s Fees.  Other than Ascendiant, each party hereto
represents and warrants that no agent, broker, investment banker, person or
firm acting on behalf of or under the authority of such party hereto is or will
be entitled to any broker’s or finder’s fee or any other commission directly or
indirectly in connection with the transactions contemplated herein.  Each party hereto further agrees to indemnify
each other party for any claims, losses or expenses incurred by such other
party as a result of the representation in this Section 11.11 being
untrue.

11.12       Construction.  Each party acknowledges that its legal
counsel participated in the preparation of this Agreement and the Related
Agreements and, therefore, stipulates that the rule of construction that
ambiguities are to be resolved against the drafting party shall not be applied
in the interpretation of this Agreement to favor any party against the other.

[THE REMAINDER OF THIS PAGE IS
INTENTIONALLY LEFT BLANK]

 28
 

IN WITNESS WHEREOF, the
parties hereto have executed this SECURITIES PURCHASE AGREEMENT as of the date
set forth in the first paragraph hereof.

	
  COMPANY: 

  	
   

  	
  PURCHASERS: 

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CORGENIX MEDICAL CORPORATION

  	
   

  	
  TRUK OPPORTUNITY FUND,
  LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Atoll Asset Management, LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Douglass T. Simpson

  	
   

  	
  By:

  	
  /s/Stephen E. Saltzstein

  
	
  Name:

  	
  Douglass T. Simpson

  	
   

  	
  Name:

  	
  Stephen E. Saltzstein

  
	
  Title

  	
  President & CEO

  	
   

  	
  Title:

  	
  Principal

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  TRUK INTERNATIONAL FUND, LP

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Atoll Asset Management, LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/Stephen E. Saltzstein

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Stephen E. Saltzstein

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Principal

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  CAMOFI MASTER LDC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Jeffrey M. Haas

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Jeffrey M. Haas

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  

 

 29

EXHIBIT A

FORM OF CONVERTIBLE TERM NOTE

 

 A-1

EXHIBIT B

FORM OF WARRANT

 

 B-1

EXHIBIT C

FORM OF OPINION

 

 C-1

EXHIBIT D

FORM OF ESCROW AGREEMENT

 

 D-1

SCHEDULE I

Additional Investment Rights Term
Notes:

	
  Purchaser

  	
   

  	
  Principal Amount

  	
   

  	
  Purchase Price

  	
   

  
	
  Truk Opportunity &
  Truk International

  	
   

  	
  $

  	
  511,364

  	
   

  	
  $

  	
  464,876

  	
   

  
	
  CAMOFI

  	
   

  	
  $

  	
  988,636

  	
   

  	
  $

  	
  898,759

  	
   

  

 

Warrants:

	
  Holder

  	
   

  	
  Number of Shares of 

  the Company’s Common Stock

  	
   

  
	
  Truk Opportunity &
  Truk International

  	
   

  	
  1,022,727

  	
   

  
	
  CAMOFI

  	
   

  	
  1,977,273

  	
   

  

 

SCHEDULE 6.5

Legal Fees and Amounts listed on
the 

Disbursement Letter to the Escrow AgentExhibit
4.1

ENBRIDGE
ENERGY PARTNERS, L.P.,

AS
ISSUER,

U.S. BANK
NATIONAL ASSOCIATION,

AS
TRUSTEE

INDENTURE

DATED AS
OF                     ,
2007

SUBORDINATED
DEBT SECURITIES

TABLE OF CONTENTS

 

	
  

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  ARTICLE I
  DEFINITIONS AND INCORPORATION BY REFERENCE

  	
  1

  
	
  Section 1.01

  	
  Definitions

  	
  1

  
	
  Section 1.02

  	
  Other
  Definitions

  	
  7

  
	
  Section 1.03

  	
  Incorporation by
  Reference of Trust Indenture Act

  	
  7

  
	
  Section 1.04

  	
  Rules of
  Construction

  	
  7

  
	
   

  	
   

  	
   

  
	
  ARTICLE II DEBT
  SECURITIES

  	
  8

  
	
  Section 2.01

  	
  Forms Generally

  	
  8

  
	
  Section 2.02

  	
  Form of
  Trustee’s Certificate of Authentication

  	
  8

  
	
  Section 2.03

  	
  Principal
  Amount; Issuable in Series

  	
  8

  
	
  Section 2.04

  	
  Execution of
  Debt Securities

  	
  11

  
	
  Section 2.05

  	
  Authentication
  and Delivery of Debt Securities

  	
  11

  
	
  Section 2.06

  	
  Denomination of
  Debt Securities

  	
  13

  
	
  Section 2.07

  	
  Registration of
  Transfer and Exchange

  	
  13

  
	
  Section 2.08

  	
  Temporary Debt
  Securities

  	
  14

  
	
  Section 2.09

  	
  Mutilated,
  Destroyed, Lost or Stolen Debt Securities

  	
  15

  
	
  Section 2.10

  	
  Cancellation of
  Surrendered Debt Securities

  	
  16

  
	
  Section 2.11

  	
  Provisions of
  the Indenture and Debt Securities for the Sole Benefit of the Parties and the
  Holders

  	
  16

  
	
  Section 2.12

  	
  Payment of
  Interest; Interest Rights Preserved

  	
  16

  
	
  Section 2.13

  	
  Securities
  Denominated in Dollars

  	
  17

  
	
  Section 2.14

  	
  Wire Transfers

  	
  17

  
	
  Section 2.15

  	
  Securities
  Issuable in the Form of a Global Security

  	
  17

  
	
  Section 2.16

  	
  Medium Term
  Securities

  	
  19

  
	
  Section 2.17

  	
  Defaulted
  Interest

  	
  20

  
	
  Section 2.18

  	
  CUSIP and
  Corresponding ISIN Numbers

  	
  21

  
	
   

  	
   

  	
   

  
	
  ARTICLE III
  REDEMPTION OF DEBT SECURITIES

  	
  21

  
	
  Section 3.01

  	
  Applicability of
  Article

  	
  21

  
	
  Section 3.02

  	
  Notice of
  Redemption; Selection of Debt Securities

  	
  21

  
	
  Section 3.03

  	
  Payment of Debt
  Securities Called for Redemption

  	
  23

  
	
  Section 3.04

  	
  Mandatory and
  Optional Sinking Funds

  	
  23

  
	
  Section 3.05

  	
  Redemption of
  Debt Securities for Sinking Fund

  	
  24

  
	
   

  	
   

  	
   

  
	
  ARTICLE IV
  PARTICULAR COVENANTS OF THE PARTNERSHIP

  	
  25

  
	
  Section 4.01

  	
  Payment of
  Principal of, and Premium

  	
  25

  
	
  Section 4.02

  	
  Maintenance of
  Offices or Agencies for Registration of Transfer, Exchange and Payment of
  Debt Securities

  	
  26

  
	
  Section 4.03

  	
  Appointment to
  Fill a Vacancy in the Office of Trustee

  	
  26

  
	
  Section 4.04

  	
  Duties of Paying
  Agents, etc.

  	
  26

  
	
  Section 4.05

  	
  SEC Reports;
  Financial Statements

  	
  27

  
	
  Section 4.06

  	
  Compliance
  Certificate

  	
  28

  
	
  Section 4.07

  	
  Further
  Instruments and Acts

  	
  28

  

 

 i
 

 

	
  Section 4.08

  	
  Existence

  	
  28

  
	
  Section 4.09

  	
  Maintenance of
  Properties

  	
  29

  
	
  Section 4.10

  	
  Payment of Taxes
  and Other Claims

  	
  29

  
	
  Section 4.11

  	
  Waiver of
  Certain Covenants

  	
  29

  
	
   

  	
   

  	
   

  
	
  ARTICLE V
  HOLDERS’ LISTS AND REPORTS BY THE TRUSTEE

  	
  29

  
	
  Section 5.01

  	
  Partnership to
  Furnish Trustee Information as to Names and Addresses of Holders;

  Preservation of Information

  	
  29

  
	
  Section 5.02

  	
  Communications
  to Holders

  	
  30

  
	
  Section 5.03

  	
  Reports by
  Trustee

  	
  30

  
	
  Section 5.04

  	
  Record Dates for
  Action by Holders

  	
  30

  
	
   

  	
   

  	
   

  
	
  ARTICLE VI
  REMEDIES OF THE TRUSTEE AND HOLDERS IN EVENT OF DEFAULT

  	
  31

  
	
  Section 6.01

  	
  Events of
  Default

  	
  31

  
	
  Section 6.02

  	
  Collection of
  Debt by Trustee, etc.

  	
  32

  
	
  Section 6.03

  	
  Application of
  Moneys Collected by Trustee

  	
  34

  
	
  Section 6.04

  	
  Limitation on
  Suits by Holders

  	
  34

  
	
  Section 6.05

  	
  Remedies
  Cumulative; Delay or Omission in Exercise of Rights Not a Waiver of Default

  	
  35

  
	
  Section 6.06

  	
  Rights of
  Holders of Majority in Principal Amount of Debt Securities to Direct Trustee
  and to Waive Default

  	
  35

  
	
  Section 6.07

  	
  Trustee to Give
  Notice of Defaults Known to It, but May Withhold Such Notice in Certain
  Circumstances

  	
  36

  
	
  Section 6.08

  	
  Requirement of
  an Undertaking to Pay Costs in Certain Suits under the Indenture or Against
  the Trustee

  	
  36

  
	
   

  	
   

  	
   

  
	
  ARTICLE VII
  CONCERNING THE TRUSTEE

  	
  37

  
	
  Section 7.01

  	
  Certain Duties
  and Responsibilities

  	
  37

  
	
  Section 7.02

  	
  Certain Rights
  of Trustee

  	
  38

  
	
  Section 7.03

  	
  Trustee Not
  Liable for Recitals in Indenture or in Debt Securities

  	
  40

  
	
  Section 7.04

  	
  Trustee, Paying
  Agent or Registrar May Own Debt Securities

  	
  40

  
	
  Section 7.05

  	
  Moneys Received
  by Trustee to Be Held in Trust

  	
  40

  
	
  Section 7.06

  	
  Compensation and
  Reimbursement

  	
  40

  
	
  Section 7.07

  	
  Right of Trustee
  to Rely on an Officers’ Certificate Where No Other Evidence Specifically
  Prescribed

  	
  41

  
	
  Section 7.08

  	
  Separate
  Trustee; Replacement of Trustee

  	
  41

  
	
  Section 7.09

  	
  Successor
  Trustee by Merger

  	
  42

  
	
  Section 7.10

  	
  Eligibility;
  Disqualification

  	
  42

  
	
  Section 7.11

  	
  Preferential
  Collection of Claims Against Partnership

  	
  43

  
	
  Section 7.12

  	
  Compliance with
  Tax Laws

  	
  43

  
	
   

  	
   

  	
   

  
	
  ARTICLE VIII
  CONCERNING THE HOLDERS

  	
  43

  
	
  Section 8.01

  	
  Evidence of
  Action by Holders

  	
  43

  
	
  Section 8.02

  	
  Proof of
  Execution of Instruments and of Holding of Debt Securities

  	
  43

  
	
  Section 8.03

  	
  Who May Be
  Deemed Owner of Debt Securities

  	
  43

  
	
  Section 8.04

  	
  Instruments
  Executed by Holders Bind Future Holders

  	
  44

  

 

 ii
 

 

	
  ARTICLE IX SUPPLEMENTAL
  INDENTURES

  	
  45

  
	
  Section 9.01

  	
  Purposes for
  Which Supplemental Indenture May Be Entered into Without Consent of Holders

  	
  45

  
	
  Section 9.02

  	
  Modification of
  Indenture with Consent of Holders of Debt Securities

  	
  46

  
	
  Section 9.03

  	
  Effect of
  Supplemental Indentures

  	
  48

  
	
  Section 9.04

  	
  Debt Securities
  May Bear Notation of Changes by Supplemental Indentures

  	
  48

  
	
   

  	
   

  	
   

  
	
  ARTICLE X
  CONSOLIDATION, MERGER, SALE OR CONVEYANCE

  	
  48

  
	
  Section 10.01

  	
  Consolidations
  and Mergers of the Partnership

  	
  48

  
	
  Section 10.02

  	
  Rights and
  Duties of Successor Partnership

  	
  49

  
	
   

  	
   

  	
   

  
	
  ARTICLE XI
  SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE; UNCLAIMED

  MONEYS

  	
  49

  
	
  Section 11.01

  	
  Applicability of
  Article

  	
  49

  
	
  Section 11.02

  	
  Satisfaction and
  Discharge of Indenture; Defeasance

  	
  49

  
	
  Section 11.03

  	
  Conditions of
  Defeasance

  	
  51

  
	
  Section 11.04

  	
  Application of
  Trust Money

  	
  52

  
	
  Section 11.05

  	
  Repayment to
  Partnership

  	
  52

  
	
  Section 11.06

  	
  Indemnity for
  U.S. Government Obligations

  	
  52

  
	
  Section 11.07

  	
  Reinstatement

  	
  52

  
	
   

  	
   

  	
   

  
	
  ARTICLE XII
  SUBORDINATION OF DEBT SECURITIES

  	
  52

  
	
  Section 12.01

  	
  Applicability of
  Article; Agreement To Subordinate

  	
  52

  
	
  Section 12.02

  	
  Liquidation,
  Dissolution, Bankruptcy

  	
  53

  
	
  Section 12.03

  	
  Default on
  Senior Indebtedness

  	
  53

  
	
  Section 12.04

  	
  Acceleration of
  Payment of Debt Securities

  	
  54

  
	
  Section 12.05

  	
  When
  Distribution Must Be Paid Over

  	
  54

  
	
  Section 12.06

  	
  Subrogation

  	
  54

  
	
  Section 12.07

  	
  Relative Rights

  	
  54

  
	
  Section 12.08

  	
  Subordination
  May Not Be Impaired by Partnership

  	
  55

  
	
  Section 12.09

  	
  Rights of
  Trustee and Paying Agent

  	
  55

  
	
  Section 12.10

  	
  Distribution or
  Notice to Representative

  	
  55

  
	
  Section 12.11

  	
  Article XII Not
  to Prevent Defaults or Limit Right to Accelerate

  	
  55

  
	
  Section 12.12

  	
  Trust Moneys Not
  Subordinated

  	
  55

  
	
  Section 12.13

  	
  Trustee Entitled
  to Rely

  	
  56

  
	
  Section 12.14

  	
  Trustee to
  Effectuate Subordination

  	
  56

  
	
  Section 12.15

  	
  Trustee Not
  Fiduciary for Holders of Senior Indebtedness

  	
  56

  
	
  Section 12.16

  	
  Reliance by
  Holders of Senior Indebtedness on Subordination Provisions

  	
  56

  
	
   

  	
   

  	
   

  
	
  ARTICLE XIII
  MISCELLANEOUS PROVISIONS

  	
  57

  
	
  Section 13.01

  	
  Successors and
  Assigns of Partnership Bound by Indenture

  	
  57

  
	
  Section 13.02

  	
  Acts of Board,
  Committee or Officer of Successor Partnership Valid

  	
  57

  
	
  Section 13.03

  	
  Required Notices
  or Demands

  	
  57

  
	
  Section 13.04

  	
  Indenture and
  Debt Securities to Be Construed in Accordance with the Laws of the State of

  New York

  	
  58

  

 

 iii
 

 

	
  Section 13.05

  	
  Officers’
  Certificate and Opinion of Counsel to Be Furnished upon Application or Demand
  by the Partnership

  	
  58

  
	
  Section 13.06

  	
  Payments Due on
  Legal Holidays

  	
  59

  
	
  Section 13.07

  	
  Provisions
  Required by TIA to Control

  	
  59

  
	
  Section 13.08

  	
  Computation of
  Interest on Debt Securities

  	
  59

  
	
  Section 13.09

  	
  Rules by
  Trustee, Paying Agent and Registrar

  	
  59

  
	
  Section 13.10

  	
  No Recourse
  Against Others

  	
  59

  
	
  Section 13.11

  	
  Severability

  	
  59

  
	
  Section 13.12

  	
  Effect of
  Headings

  	
  59

  
	
  Section 13.13

  	
  Indenture May Be
  Executed in Counterparts

  	
  59

  

 

 iv
 

CROSS-REFERENCE TABLE

	
  TIA SECTION

  	
   

  	
  INDENTURE

  
	
  310

  	
  (a)

  	
   

  	
  Section 7.10

  
	
   

  	
  (b)

  	
   

  	
  Section 7.10

  
	
   

  	
  (c)

  	
   

  	
  N.A.

  
	
  311

  	
  (a)

  	
   

  	
  Section 7.11

  
	
   

  	
  (b)

  	
   

  	
  Section 7.11

  
	
   

  	
  (c)

  	
   

  	
  N.A.

  
	
  312

  	
  (a)

  	
   

  	
  Section 5.01

  
	
   

  	
  (b)

  	
   

  	
  Section 5.02

  
	
   

  	
  (c)

  	
   

  	
  Section 5.02

  
	
  313

  	
  (a)

  	
   

  	
  Section 5.03

  
	
   

  	
  (b)

  	
   

  	
  Section 5.03

  
	
   

  	
  (c)

  	
   

  	
  Section 13.03

  
	
   

  	
  (d)

  	
   

  	
  Section 5.03

  
	
  314

  	
  (a)

  	
   

  	
  Section 4.05

  
	
   

  	
  (b)

  	
   

  	
  N.A.

  
	
   

  	
  (c)(1)

  	
   

  	
  Section 13.05

  
	
   

  	
  (c)(2)

  	
   

  	
  Section 13.05

  
	
   

  	
  (c)(3)

  	
   

  	
  N.A.

  
	
   

  	
  (d)

  	
   

  	
  N.A.

  
	
   

  	
  (e)

  	
   

  	
  Section 13.05

  
	
   

  	
  (f)

  	
   

  	
  N.A.

  
	
  315

  	
  (a)

  	
   

  	
  Section 7.01

  
	
   

  	
  (b)

  	
   

  	
  Section 6.07 & Section 13.03

  
	
   

  	
  (c)

  	
   

  	
  Section 7.01

  
	
   

  	
  (d)

  	
   

  	
  Section 7.01

  
	
   

  	
  (e)

  	
   

  	
  Section 6.08

  
	
  316

  	
  (a) (last sentence)

  	
   

  	
  Section 1.01

  
	
   

  	
  (a) (1) (A)

  	
   

  	
  Section 6.06

  
	
   

  	
  (a) (1) (B)

  	
   

  	
  Section 6.06

  
	
   

  	
  (a) (2)

  	
   

  	
  Section 9.01(d)

  
	
   

  	
  (b)

  	
   

  	
  Section 6.04

  
	
   

  	
  (c)

  	
   

  	
  Section 5.04

  
	
  317

  	
  (a) (1)

  	
   

  	
  Section 6.02

  
	
   

  	
  (a) (2)

  	
   

  	
  Section 6.02

  
	
   

  	
  (b)

  	
   

  	
  Section 4.04

  
	
  318

  	
  (a)

  	
   

  	
  Section 13.07

  

 

N.A. means Not Applicable

Note: This
cross-reference table shall not, for any purpose, be deemed part of this
Indenture.

 v

INDENTURE dated as of                   ,
2007, between Enbridge Energy Partners, L.P., a Delaware limited partnership
(the “Partnership”) and U.S. Bank National Association, a national
banking association, as trustee (the “Trustee”).

RECITALS

The Partnership has duly authorized the execution and
delivery of this Indenture to provide for the issuance from time to time of the
Partnership’s debentures, notes, bonds or other evidences of indebtedness to be
issued in one or more series unlimited as to principal amount (herein called
the “Debt Securities”) as in this Indenture provided.

All things necessary to make this Indenture a valid
agreement of the Partnership, in accordance with its terms, have been done.

NOW, THEREFORE, THIS INDENTURE WITNESSETH

That in order to declare the terms and conditions upon
which the Debt Securities are authenticated, issued and delivered, and in
consideration of the premises, and of the purchase and acceptance of the Debt
Securities by the Holders thereof, the Partnership and the Trustee covenant and
agree with each other, for the benefit of the respective Holders from time to
time of the Debt Securities or any series thereof, as follows:

ARTICLE I

DEFINITIONS AND INCORPORATION BY REFERENCE

Section
1.01           Definitions.

“Affiliate” of any specified Person means any
other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For the purposes
of this definition, “control” when used with respect to any specified Person
means the power to direct the management and policies of such Person, directly
or indirectly, whether through the ownership of voting securities, by contract
or otherwise; and the terms “controlling” and “controlled” have
meanings correlative to the foregoing. The Trustee may request and may
conclusively rely upon an Officers’ Certificate to determine whether any Person
is an Affiliate of any specified Person.

“Agent” means any Registrar or paying agent.

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

“Board of Directors” means the Board of
Directors of the General Partner or any authorized committee of the Board of
Directors of the General Partner or any directors and/or officers of the
General Partner to whom such Board of Directors or such committee shall have
duly delegated its authority to act hereunder. 
If the Partnership shall change its form of entity to other than a
limited partnership, the references to the Board of Directors of the General
Partner shall mean the Board of Directors (or other comparable governing body)
of the Partnership.

 1
 

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

“Capital Stock” of any Person means and
includes any and all shares, rights to purchase, warrants or options (whether
or not currently exercisable), participations or other equivalents of or
interests in (however designated) the equity (which includes, but is not
limited to, common stock, preferred stock and partnership and joint venture
interests) of such Person (excluding any debt securities that are convertible
into, or exchangeable for, such equity).

“Custodian” means any receiver, trustee,
assignee, liquidator or similar official under any Bankruptcy Law.

“Debt” of any Person at any date means any
obligation created or assumed by such Person for the repayment of borrowed
money and any guarantee therefor.

“Debt Security” or “Debt Securities” has
the meaning stated in the first recital of this Indenture and more particularly
means any debt security or debt securities, as the case may be, of any series
authenticated and delivered under this Indenture.

“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.

“Depositary” means, unless otherwise specified
by the Partnership pursuant to either Section 2.03 or 2.15, with respect to
Debt Securities of any series issuable or issued in whole or in part in the
form of one or more Global Securities, The Depository Trust Company, New York,
New York, or any successor thereto registered as a clearing agency under the
Exchange Act or other applicable statute or regulations.

“Designated Senior Indebtedness” means (i) any
Senior Indebtedness of the Partnership that, at the date of determination, has
an aggregate principal amount outstanding of, or under which, at the date of
determination, the holders thereof are committed to lend up to, at least $100
million and (ii) any other Senior Indebtedness so designated, as provided in
Section 2.03, in respect of any series of Debt Securities.

“Dollar” or “$” means such currency of
the United States as at the time of payment is legal tender for the payment of
public and private debts.

“Exchange Act” means the Securities Exchange
Act of 1934, as amended, and any successor statute.

“Floating Rate Security” means a Debt Security
that provides for the payment of interest at a variable rate determined
periodically by reference to an interest rate index specified pursuant to
Section 2.03.

“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.

 2
 

“General Partner” means Enbridge Energy
Company, Inc., a Delaware corporation, and its successors as general partner of
the Partnership or Enbridge Energy Management, L.L.C., a Delaware limited
liability company, as the delegate of the power to manage and control the
business and affairs of the Partnership pursuant to the Delegation of Control
Agreement, dated October 17, 2001, among Enbridge Energy Management, L.L.C. and
Enbridge Energy Company, Inc., as the same may be amended from time to time,
and successors of Enbridge Energy Management, L.L.C. as delegate of the General
Partner.

“Global Security” means with respect to any
series of Debt Securities issued hereunder, a Debt Security that is executed by
the Partnership and authenticated and delivered by the Trustee to the
Depositary or pursuant to the Depositary’s instruction, all in accordance with
this Indenture and any Indentures supplemental hereto, or resolution of the
Board of Directors and set forth in an Officers’ Certificate, which (a) shall
be registered in the name of the Depositary or its nominee and (b) shall
represent, and shall be denominated in an amount equal to the aggregate
principal amount of, all the Outstanding Debt Securities of such series or any
portion thereof, in either case having the same terms, including, without
limitation, the same original issue date, date or dates on which principal is
due and interest rate or method of determining interest.

The term “guarantee” means any obligation,
contingent or otherwise, of any Person directly or indirectly guaranteeing any
Debt or other obligation of any other Person and any obligation, direct or
indirect, contingent or otherwise, of such Person (a) to purchase or pay (or
advance or supply funds for the purchase or payment of) such Debt or other
obligation of such other Person (whether arising by virtue of partnership arrangements,
or by agreement to keep-well, to purchase assets, goods, securities or
services, to take-or-pay, or to maintain financial statement conditions or
otherwise) or (b) entered into for purposes of assuring in any other manner the
obligee of such Debt or other obligation of the payment thereof or to protect
such obligee against loss in respect thereof (in whole or in part); provided,
however, that the term “guarantee” shall not include endorsements for
collection or deposit in the ordinary course of business.  The term “guarantee” used as a verb has a
corresponding meaning.

“Holder,” “Holder of Debt Securities” or
other similar terms means, a Person in whose name a Debt Security is registered
in the Debt Security Register (as defined in Section 2.07(a)).

“Indenture” means this instrument as originally
executed, or, if amended or supplemented as herein provided, as so amended or
supplemented and shall include the form and terms of particular series of Debt
Securities as contemplated hereunder, whether or not a supplemental Indenture
is entered into with respect thereto.

“Legal Holiday” means a Saturday, a Sunday or a
day on which commercial banks in the City of Houston, Texas, City of New York,
New York or at a Place of Payment are authorized or required by law, regulation
or executive order to close.  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.

“Lien” means, with respect to any asset, any
mortgage, lien, security interest, pledge, charge or other encumbrance of any
kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under applicable law.

 3
 

“Officer” means, with respect to a Person, the
Chairman of the Board, the President, any Vice President (whether unmodified or
prefaced by “Senior,” “Assistant” or otherwise), the Treasurer, any Assistant
Treasurer, the Controller, the Secretary, or any Assistant Secretary of such
Person.

“Officers’ Certificate” means a certificate
signed by two Officers of the General Partner, one of whom must be the General
Partner’s chief executive officer, chief financial officer or chief accounting
officer (or if the Partnership shall change its form of entity to other than a
limited partnership, by Persons, officers, members, agents and others holding
positions comparable to those of the foregoing nature, as applicable).

“Opinion of Counsel” means a written opinion
from legal counsel who is acceptable to the Trustee.  The counsel may be an employee of or counsel
to the Partnership or the Trustee.

“Original Issue Discount Debt Security” means
any Debt Security that provides for an amount less than the principal amount
thereof to be due and payable upon a declaration of acceleration of the
maturity thereof pursuant to Section 6.01.

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

(a)           Debt
Securities of that series theretofore canceled by the Trustee or delivered to
the Trustee for cancellation;

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

(c)           Debt
Securities of that series that have been paid pursuant to Section 2.09 or in
exchange for or in lieu of which other Debt Securities have been authenticated
and delivered pursuant to this Indenture, other than any such Debt Securities
in respect of which there shall have been presented to the Trustee proof
satisfactory to it that such Debt Securities are held by a bona fide purchaser
in whose hands such Debt Securities are valid obligations of the Partnership;
and

(d)           Debt
Securities, except to the extent provided in Section 11.02, with respect to
which the Partnership has effected legal defeasance or covenant defeasance as
provided in Article XI;

provided, however, that in
determining whether the Holders of the requisite principal amount of the
Outstanding Debt Securities of any series have given any request, demand,
authorization, direction, notice, consent or waiver hereunder, Debt Securities
owned by the Partnership or any other obligor upon the Debt Securities or any
Affiliate of the Partnership or of such other obligor shall be disregarded and
deemed not to be Outstanding, except that, in determining whether the 

 4
 

Trustee shall be protected in relying upon any such
request, demand, authorization, direction, notice, consent or waiver, only Debt
Securities that a Trust Officer actually knows to be so owned shall be so
disregarded.  Debt Securities so owned
that have been pledged in good faith may be regarded as Outstanding if the
pledgee establishes to the satisfaction of the Trustee the pledgee’s right so
to act with respect to such Debt Securities and that the pledgee is not the
Partnership or any other obligor upon the Debt Securities or an Affiliate of
the Partnership or of such other obligor. 
In determining whether the Holders of the requisite principal amount of
Outstanding Debt Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, the principal amount of an
Original Issue Discount Debt Security that shall be deemed to be Outstanding
for such purposes shall be the amount of the principal thereof that would be
due and payable as of the date of such determination upon a declaration of
acceleration of the maturity thereof pursuant to Section 6.01.

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

“Partnership Order” means a written request or
order signed in the name of the Partnership by the Chairman of the Board, the
President or a Vice President of the General Partner, and by the Treasurer, an
Assistant Treasurer, the Controller, an Assistant Controller, the Secretary or
an Assistant Secretary of the General Partner, and delivered to the Trustee, or
if the Partnership shall change its form of entity to other than a limited
partnership, by Persons or officers, members, agents and others holding
positions comparable to those of the foregoing nature, as applicable.

“Person” means any individual, corporation,
partnership, joint venture, limited liability company, incorporated or
unincorporated association, joint-stock company, trust, unincorporated
organization or government or other agency or political subdivision thereof or
other entity of any kind.

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

“Representative” means the indenture trustee or
other trustee, agent or representative (if any) for an issue of Senior
Indebtedness.

“SEC” means the Securities and Exchange
Commission.

“Securities Act” means the Securities Act of
1933, as amended, and any successor statute.

“Senior Indebtedness,” unless otherwise
provided with respect to the Debt Securities of a series as contemplated by
Section 2.03, means (1) all Debt of the Partnership, whether currently
outstanding or hereafter issued, unless, by the terms of the instrument
creating or evidencing such Debt, it is provided that such Debt is not superior
in right of payment to the Debt Securities, or to other Debt that is pari passu with or subordinated to the Debt Securities, and
(2) any modifications, refunding, deferrals, renewals, or extensions of any
such Debt or securities, notes or other evidence of Debt issued in exchange for
such Debt; provided that in no event shall 

 5
 

“Senior Indebtedness”
include (a) Debt of the Partnership owed or owing to any Subsidiary of the
Partnership, (b) Debt to trade creditors, or (c) any liability for taxes owed
or owing by the Partnership.

“Stated Maturity” means, with respect to any
Debt Security or any installment of principal thereof or interest thereon, the
date specified in or pursuant to the terms of such Debt Security as the date on
which the principal of such Security or such installment of interest is due and
payable, and in the case of such principal, as such date may be shortened or
extended as provided pursuant to the terms of such Debt Security and this
Indenture (but excluding any provision providing for the repurchase of such
Debt Security at the option of the Holder thereof upon the happening of any
contingency beyond the control of the issuer unless such contingency has
occurred).

“Subsidiary” means, with respect to any Person,

(1)                                  any
other corporation, association or other business entity (other than a
partnership)  of which more than 50% of
the total voting power of the Capital Stock entitled, without regard to the
occurrence of any contingency, to vote in the election of directors, managers,
trustees or equivalent Persons thereof is at the time of determination owned or
controlled, directly or indirectly, by such Person or one or more of the other
Subsidiaries of such Person or a combination thereof;

(2)                                  in
the case of a partnership, more than 50% of the partners’ capital interests,
considering all partners’ capital interests as a single class, is at the time
owned or controlled, directly or indirectly, by such Person or one or more of
the other Subsidiaries of such Person or a combination thereof; or

(3)                                  any
other Person in which such Person or one or more of the Subsidiaries of such
Person or a combination thereof have the power to control, by contract or
otherwise, the board of directors, managers, trustees or equivalent governing
body of, or otherwise control, such other Person.

“TIA” means the Trust Indenture Act of 1939, as
amended (15 U.S.C. Section 77aaa-77bbbb), as in effect on the date of
this Indenture as originally executed and, to the extent required by law, as
amended.

“Trustee” initially means U.S. Bank National
Association and any other Person or Persons appointed as such from time to time
pursuant to Section 7.08, and, subject to the provisions of Article VII,
includes its or their successors and assigns. 
If at any time there is more than one such Person, “Trustee” as
used with respect to the Debt Securities of any series shall mean the Trustee
with respect to the Debt Securities of that series.

“Trust Officer” means any 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 (including the states thereof and the District of Columbia), its
territories, its possessions and other areas subject to its jurisdiction.

 6
 

“U.S. Government Obligations” means direct
obligations of the United States of America, obligations on which the payment
of principal and interest is fully guaranteed by the United States of America
or obligations or guarantees for the payment of which the full faith and credit
of the United States of America is pledged.

“Yield to Maturity” means the yield to
maturity, calculated at the time of issuance of a series of Debt Securities,
or, if applicable, at the most recent redetermination of interest on such
series and calculated in accordance with accepted financial practice.

Section
1.02           Other
Definitions.

	
  TERM

  	
   

  	
  DEFINED IN

  
	
  “Debt Security
  Register”

  	
   

  	
  Section 2.07

  
	
  “Defaulted
  Interest”

  	
   

  	
  Section 2.17

  
	
  “Event of
  Default”

  	
   

  	
  Section 6.01

  
	
  “mandatory
  sinking fund payment”

  	
   

  	
  Section 3.04

  
	
  “optional
  sinking fund payment”

  	
   

  	
  Section 3.04

  
	
  “Place of
  Payment”

  	
   

  	
  Section 2.03

  
	
  “Registrar”

  	
   

  	
  Section 2.07

  
	
  “Subordinated
  Debt Securities”

  	
   

  	
  Section 12.01

  
	
  “Successor
  Partnership”

  	
   

  	
  Section 10.01

  

 

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.

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

Section
1.04           Rules
of Construction.  Unless the context
otherwise requires:

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

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

(c)           “or”
is not exclusive;

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

(e)           provisions
apply to successive events and transactions;

(f)            if
the applicable series of Debt Securities are subordinated pursuant to Article
XII, unsecured Debt shall not be deemed to be subordinate or junior to secured
Debt merely by virtue of its nature as unsecured Debt; and

 7
 

(g)           the
principal amount of any noninterest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance
sheet of the issuer dated such date prepared in accordance with GAAP.

ARTICLE
II

DEBT SECURITIES

Section
2.01           Forms
Generally.  The Debt Securities of
each series shall be in substantially the form established without the approval
of any Holder by or pursuant to a resolution of the Board of Directors or in
one or more Indentures supplemental hereto, in each case with such appropriate
insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture, and may have such letters, numbers or other marks
of identification and such legends or endorsements placed thereon as the
Partnership may deem appropriate (and, if not contained in a supplemental
Indenture entered into in accordance with Article IX, as are not prohibited by
the provisions of this Indenture) or as may be required or appropriate to
comply with any law or with any rules made pursuant thereto or with any rules
of any securities exchange on which such series of Debt Securities may be
listed, or to conform to general usage, or as may, consistently herewith, be
determined by the officers executing such Debt Securities as evidenced by their
execution of the Debt Securities.

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

Section
2.02           Form
of Trustee’s Certificate of Authentication. 
The Trustee’s certificate of authentication on all Debt Securities
authenticated by the Trustee shall be in substantially the following form:

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

	
  

  	
  U.S. BANK NATIONAL ASSOCIATION,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized
  Signatory

  

 

Section
2.03           Principal
Amount; Issuable in Series.  The
aggregate principal amount of Debt Securities that may be issued, executed,
authenticated, delivered and outstanding under this Indenture is unlimited.

The Debt Securities may
be issued in one or more series in fully registered form.  There shall be established, without the
approval of any Holders, in or pursuant to a resolution of the Board of
Directors and set forth in an Officers’ Certificate, or established in one or
more 

 8
 

Indentures
supplemental hereto, prior to the issuance of Debt Securities of any series any
or all of the following:

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

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

(c)           the date or dates on
which the principal of and premium, if any, on the Debt Securities of the
series are payable;

(d)           the rate or rates
(which may be fixed or variable) at which the Debt Securities of the series
shall bear interest, if any, or the method of determining such rate or rates,
the date or dates from which such interest shall accrue, the interest payment
dates on which such interest shall be payable, or the method by which such date
will be determined, in the case of Debt Securities in registered form, the record
dates for the determination of Holders thereof to whom such interest is payable
or the method by which such date will be determined; and the basis upon which
interest will be calculated if other than that of a 360-day year of twelve
thirty-day months;

(e)           the place or places, if
any, in addition to or instead of the corporate trust office of the Trustee,
where the principal of, and premium, if any, and interest on, Debt Securities
of the series shall be payable (“Place of Payment”);

(f)            the price or prices at
which, the period or periods within which and the terms and conditions upon
which Debt Securities of the series may be redeemed, in whole or in part, at
the option of the Partnership or otherwise;

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

(h)           the terms, if any, upon
which the Debt Securities of the series may be convertible into or exchanged
for Capital Stock (which may be represented by depositary shares), other Debt
Securities or warrants for Capital Stock or Debt or other securities of any
kind of the Partnership or any other obligor and the terms and conditions upon
which such conversion or exchange shall be effected, including the initial
conversion or exchange price or rate, the conversion or exchange period and any
other provision in addition to or in lieu of those described herein;

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

 9
 

(j)            if the amount of
principal of or any premium or interest on Debt Securities of the series may be
determined with reference to an index or pursuant to a formula, the manner in
which such amounts will be determined;

(k)           if the principal amount
payable at the Stated Maturity of Debt Securities of the series will not be
determinable as of any one or more dates prior to such Stated Maturity, the
amount that will be deemed to be such principal amount as of any such date for
any purpose, including the principal amount thereof that will be due and
payable upon any maturity other than the Stated Maturity or that will be deemed
to be Outstanding as of any such date (or, in any such case, the manner in
which such deemed principal amount is to be determined);

(l)            any changes or
additions to Article XI, including the addition of additional covenants that
may be subject to the covenant defeasance option pursuant to Section 11.02(b);

(m)          if other than the
principal amount thereof, the portion of the principal amount of Debt
Securities of the series that shall be payable upon declaration of acceleration
of the maturity thereof pursuant to Section 6.01 or provable in bankruptcy
pursuant to Section 6.02;

(n)           the terms, if any, of
the transfer, mortgage, pledge or assignment as security for the Debt
Securities of the series of any properties, assets, moneys, proceeds,
securities or other collateral, including whether certain provisions of the TIA
are applicable and any corresponding changes to provisions of this Indenture as
currently in effect;

(o)           any addition to or
change in the Events of Default with respect to the Debt Securities of the
series and any change in the right of the Trustee or the Holders to declare the
principal of, and premium and interest on, such Debt Securities due and
payable;

(p)           if the Debt Securities
of the series shall be issued in whole or in part in the form of a Global
Security or Securities, the terms and conditions, if any, upon which such
Global Security or Securities may be exchanged in whole or in part for other
individual Debt Securities in definitive registered form; and the Depositary
for such Global Security or Securities and the form of any legend or legends to
be borne by any such Global Security or Securities in addition to or in lieu of
the legend referred to in Section 2.15(a);

(q)           any trustees,
authenticating or paying agents, transfer agents or registrars;

(r)            the applicability of,
and any addition to or change in the covenants and definitions currently set
forth in this Indenture or in the terms currently set forth in Article X,
including conditioning any merger, conveyance, transfer or lease permitted by
Article X upon the satisfaction of any Debt coverage standard by the
Partnership and Successor Partnership (as defined in Article X);

(s)           the subordination, if
any, of the Debt Securities of the series pursuant to Article XII and any
changes or additions to Article XII or designation of any Designated Senior
Indebtedness;

(t)            with regard to Debt
Securities of the series that do not bear interest, the dates for certain
required reports to the Trustee; and

 10
 

(u)           any other terms of the
Debt Securities of the series (which terms shall not be prohibited by the
provisions of this Indenture).

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

Section 2.04           Execution of Debt Securities.  The Debt Securities shall be signed on behalf
of the Partnership by the Chairman of the Board, the President or a Vice
President of the General Partner and, if the seal of the General Partner is
reproduced thereon, it shall be attested by the Secretary, an Assistant
Secretary, a Treasurer or an Assistant Treasurer of the General Partner.  Such signatures upon the Debt Securities may
be the manual or facsimile signatures of the present or any future such
authorized officers and may be imprinted or otherwise reproduced on the Debt
Securities.  The seal of the General
Partner, if any, may be in the form of a facsimile thereof and may be
impressed, affixed, imprinted or otherwise reproduced on the Debt Securities.

Only such Debt Securities
as shall bear thereon a certificate of authentication substantially in the form
hereinbefore recited, signed manually by the Trustee, shall be entitled to the
benefits of this Indenture or be valid or obligatory for any purpose.  Such certificate by the Trustee upon any Debt
Security executed by the General Partner on behalf of the Partnership shall be
conclusive evidence that the Debt Security so authenticated has been duly
authenticated and delivered hereunder.

In case any officer of
the General Partner who shall have signed any of the Debt Securities shall
cease to be such officer before the Debt Securities so signed shall have been
authenticated and delivered by the Trustee, or disposed of by the Partnership,
such Debt Securities nevertheless may be authenticated and delivered or
disposed of as though the Person who signed such Debt Securities had not ceased
to be such officer of the General Partner; and any Debt Security may be signed
on behalf of the General Partner by such Persons as, at the actual date of the
execution of such Debt Security, shall be the proper officers of the General
Partner, although at the date of such Debt Security or of the execution of this
Indenture any such Person was not such officer.

Section 2.05           Authentication and Delivery of Debt
Securities.  At any time and from
time to time after the execution and delivery of this Indenture, the
Partnership may deliver to the Trustee for authentication Debt Securities of
any series executed by the Partnership, and the Trustee shall thereupon
authenticate and deliver said Debt Securities to or upon a Partnership
Order.  In authenticating such Debt
Securities, and accepting the additional responsibilities under this Indenture
in relation to such Debt Securities, the Trustee shall be entitled to receive,
and (subject to Section 7.01) shall be fully protected in relying upon:

(a)           a copy of any
resolution or resolutions of the Board of Directors, certified by the Secretary
or Assistant Secretary of the General Partner, authorizing the terms of
issuance of any series of Debt Securities;

 11
 

(b)           an executed
supplemental Indenture, if any;

(c)           an Officers’
Certificate; and

(d)           an Opinion of Counsel
prepared in accordance with Section 13.05 that shall also state:

(i)            that the form of such Debt Securities has
been established by or pursuant to a resolution of the Board of Directors or by
a supplemental Indenture as permitted by Section 2.01 in conformity with the
provisions of this Indenture;

(ii)           that the terms of such Debt Securities have
been established by or pursuant to a resolution of the Board of Directors or by
a supplemental Indenture as permitted by Section 2.03 in conformity with the
provisions of this Indenture;

(iii)          that such Debt Securities, when authenticated
and delivered by the Trustee and issued by the Partnership in the manner and
subject to any conditions specified in such Opinion of Counsel, will constitute
valid and legally binding obligations of the Partnership, enforceable in
accordance with their terms except as the enforceability thereof may be limited
by bankruptcy, insolvency or similar laws affecting the enforcement of
creditors’ rights generally and rights of acceleration and the availability of
equitable remedies may be limited by equitable principles of general
applicability;

(iv)          that the Partnership has the partnership
power to issue such Debt Securities and has duly taken all necessary
partnership action with respect to such issuance;

(v)           that the issuance of such Debt Securities
will not contravene the organizational documents of the Partnership or result
in any material violation of any of the terms or provisions of any law or
regulation or of any material indenture, mortgage or other agreement known to
such counsel by which the Partnership is bound;

(vi)          that authentication and delivery of such Debt
Securities and the execution and delivery of any supplemental Indenture will
not violate the terms of this Indenture; and

(vii)         such other matters as the Trustee may
reasonably request.

Such Opinion of Counsel
need express no opinion as to whether a court in the United States would render
a money judgment in a currency other than that of the United States.

The Trustee shall have
the right to decline to authenticate and deliver any Debt Securities under this
Section 2.05 if the Trustee, being advised by counsel, determines that such
action may not lawfully be taken or if the Trustee in good faith by its board
of directors or trustees, executive committee or a trust committee of
directors, trustees or officers (or any combination thereof) shall determine
that such action would expose the Trustee to personal liability to existing
Holders.

 12
 

The Trustee may appoint
an authenticating agent reasonably acceptable to the Partnership to
authenticate Debt Securities of any series. 
Unless limited by the terms of such appointment, an authenticating agent
may authenticate Debt Securities whenever the Trustee may do so.  Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent. An
authenticating agent has the same rights as any Registrar, paying agent or
agent for service of notices and demands.

Unless otherwise provided
in the form of Debt Security for any series, each Debt Security shall be dated
the date of its authentication.

Section 2.06           Denomination of Debt Securities.  Unless otherwise provided in the form of Debt
Security for any series, the Debt Securities of each series shall be issuable
only as fully registered Debt Securities in such Dollar denominations as shall
be specified or contemplated by Section 2.03. 
In the absence of any such specification with respect to the Debt
Securities of any series, the Debt Securities of such series shall be issuable
in denominations of $1,000 and any integral multiple thereof.

Section 2.07           Registration of Transfer and Exchange.

(a)           The Partnership shall
keep or cause to be kept a register for each series of Debt Securities issued
hereunder (hereinafter collectively referred to as the “Debt Security
Register”), in which, subject to such reasonable regulations as it may
prescribe, the Partnership shall provide for the registration of all Debt
Securities and of the transfer of Debt Securities as in this Article II
provided.  At all reasonable times the
Debt Security Register shall be open for inspection by the Trustee.  Subject to Section 2.15, upon due presentment
for registration of transfer of any Debt Security at any office or agency to be
maintained by the Partnership in accordance with the provisions of Section
4.02, the Partnership shall execute and the Trustee shall authenticate and
deliver in the name of the transferee or transferees a new Debt Security or
Debt Securities of authorized denominations for a like aggregate principal amount.  In no event may Debt Securities be issued as,
or exchanged for, bearer securities.

Unless and until
otherwise determined by the Partnership by resolution of the Board of
Directors, the Debt Security Register shall be kept at the principal corporate
trust office of the Trustee and, for this purpose, the Trustee shall be
designated “Registrar.”

Debt Securities of any
series (other than a Global Security, except as set forth below) may be
exchanged for a like aggregate principal amount of Debt Securities of the same
series of other authorized denominations. 
Subject to Section 2.15, Debt Securities to be exchanged shall be
surrendered at the office or agency to be maintained by the Partnership as
provided in Section 4.02, and the Partnership shall execute and the Trustee
shall authenticate and deliver in exchange therefor the Debt Security or Debt
Securities that the Holder making the exchange shall be entitled to receive.

(b)           All Debt Securities
presented or surrendered for registration of transfer, exchange or payment
shall (if so required by the Partnership, the Trustee or the Registrar) be duly
endorsed or be accompanied by a written instrument or instruments of transfer,
in form satisfactory to the 

 13
 

Partnership, the Trustee and the Registrar,
duly executed by the Holder or his attorney duly authorized in writing.

All Debt Securities
issued in exchange for or upon transfer of Debt Securities shall be the valid
obligations of the Partnership, evidencing the same debt, and entitled to the
same benefits under this Indenture as the Debt Securities surrendered for such
exchange or transfer.

No service charge shall
be made for any exchange or registration of transfer of Debt Securities (except
as provided by Section 2.09), but the Partnership may require payment of a sum
sufficient to cover any tax, fee, assessment or other governmental charge that
may be imposed in relation thereto, other than those expressly provided in this
Indenture to be made at the Partnership’s own expense or without expense or
without charge to the Holders.

The Partnership shall not
be required (i) to issue, register the transfer of or exchange any Debt
Securities for a period of 15 days next preceding any mailing of notice of
redemption of Debt Securities of such series or (ii) to register the transfer
of or exchange any Debt Securities selected, called or being called for
redemption.

Prior to the due
presentation for registration of transfer of any Debt Security, the
Partnership, the Trustee, any paying agent or any Registrar may deem and treat
the Person in whose name a Debt Security is registered as the absolute owner of
such Debt Security for the purpose of receiving payment of or on account of the
principal of, and premium, if any, and interest on, such Debt Security and for
all other purposes whatsoever, whether or not such Debt Security is overdue,
and none of the Partnership, the Trustee, any paying agent or any Registrar
shall be affected by notice to the contrary.

None of the Partnership,
the Trustee, any agent of the Trustee, any paying agent or any Registrar will
have any responsibility or liability for (i) any aspect of the records relating
to, or payments made on account of, beneficial ownership interests of a Global
Security or, (ii) maintaining, supervising or reviewing any records relating to
such beneficial ownership interests, (iii) any failure of the Depositary for
such Global Security to process any notices to Holders required or permitted
hereunder, (iv) any selection of beneficial ownership interests to be redeemed
in connection with any redemption hereunder or (v) any other action taken by
such Depositary for or on behalf of the owners of such beneficial interests.

Section 2.08           Temporary Debt Securities.  Pending the preparation of definitive Debt
Securities of any series, the Partnership may execute and the Trustee shall
authenticate and deliver temporary Debt Securities (printed, lithographed,
photocopied, typewritten or otherwise produced) of any authorized denomination,
and substantially in the form of the definitive Debt Securities in lieu of
which they are issued, in registered form with such omissions, insertions and
variations as may be appropriate for temporary Debt Securities, all as may be
determined by the Partnership with the concurrence of the Trustee. Temporary
Debt Securities may contain such reference to any provisions of this Indenture
as may be appropriate.  Every temporary
Debt Security shall be executed by the Partnership and authenticated by the
Trustee upon the same conditions and in substantially the same manner, and with
like effect, as the definitive Debt Securities.

 14
 

If temporary Debt Securities of any series are issued,
the Partnership will cause definitive Debt Securities of such series to be
prepared without unreasonable delay. 
After the preparation of definitive Debt Securities of such series, the
temporary Debt Securities of such series shall be exchangeable for definitive
Debt Securities of such series upon surrender of the temporary Debt Securities
of such series at the office or agency of the Partnership at a Place of Payment
for such series, without charge to the Holder thereof, except as provided in
Section 2.07 in connection with a transfer. 
Upon surrender for cancellation of any one or more temporary Debt
Securities of any series, the Partnership shall execute and the Trustee shall
authenticate and deliver in exchange therefor a like principal amount of
definitive Debt Securities of the same series of authorized denominations and
of like tenor.  Until so exchanged,
temporary Debt Securities of any series shall in all respects be entitled to
the same benefits under this Indenture as definitive Debt Securities of such
series.

Upon any exchange of a
portion of a temporary Global Security for a definitive Global Security or for
the individual Debt Securities represented thereby pursuant to Section 2.07 or
this Section 2.08, the temporary Global Security shall be endorsed by the
Trustee to reflect the reduction of the principal amount evidenced thereby,
whereupon the principal amount of such temporary Global Security shall be
reduced for all purposes by the amount to be exchanged and endorsed.

Section 2.09           Mutilated, Destroyed, Lost or Stolen Debt
Securities.  If (a) any mutilated
Debt Security is surrendered to the Trustee at its corporate trust office or
(b) the Partnership and the Trustee receive evidence to their satisfaction of
the destruction, loss or theft of any Debt Security, and there is delivered to
the Partnership and the Trustee such security or indemnity as may be required
by them to save each of them and any paying agent harmless, and neither the
Partnership nor the Trustee receives notice that such Debt Security has been
acquired by a bona fide purchaser, then the Partnership shall execute and, upon
a Partnership Order, the Trustee shall authenticate and deliver, in exchange
for or in lieu of any such mutilated, destroyed, lost or stolen Debt Security,
a new Debt Security of the same series of like tenor, form, terms and principal
amount, bearing a number not contemporaneously Outstanding.  Upon the issuance of any substituted Debt
Security, the Partnership or the Trustee may require the payment of a sum
sufficient to cover any tax, fee, assessment or other governmental charge that
may be imposed in relation thereto and any other expenses connected
therewith.  In case any Debt Security
that has matured or is about to mature or that has been called for redemption
shall become mutilated or be destroyed, lost or stolen, the Partnership may,
instead of issuing a substituted Debt Security, pay or authorize the payment of
the same (without surrender thereof except in the case of a mutilated Debt
Security) if the applicant for such payment shall furnish the Partnership and
the Trustee with such security or indemnity as either may require to save it
harmless from all risk, however remote, and, in case of destruction, loss or
theft, evidence to the satisfaction of the Partnership and the Trustee of the
destruction, loss or theft of such Debt Security and of the ownership thereof.

Every substituted Debt
Security of any series issued pursuant to the provisions of this Section 2.09
by virtue of the fact that any Debt Security is destroyed, lost or stolen shall
constitute an original additional contractual obligation of the Partnership,
whether or not the destroyed, lost or stolen Debt Security shall be found at
any time, and shall be entitled to all the benefits of this Indenture equally
and proportionately with any and all other Debt Securities of 

 15
 

that series duly
issued hereunder.  All Debt Securities
shall be held and owned upon the express condition that the foregoing
provisions are exclusive with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Debt Securities, and shall preclude any
and all other rights or remedies, notwithstanding any law or statute existing
or hereafter enacted to the contrary with respect to the replacement or payment
of negotiable instruments or other securities without their surrender.

Section 2.10           Cancellation of Surrendered Debt
Securities.  All Debt Securities
surrendered for payment, redemption, registration of transfer or exchange
shall, if surrendered to the Partnership or any paying agent or a Registrar, be
delivered to the Trustee for cancellation by it, or if surrendered to the Trustee,
shall be canceled by it, and no Debt Securities shall be issued in lieu thereof
except as expressly permitted by any of the provisions of this Indenture.  All canceled Debt Securities held by the
Trustee shall be destroyed (subject to the record retention requirements of the
Exchange Act) and, upon request, a certification of their destruction shall be
delivered to the Partnership.  On request
of the Partnership, the Trustee shall deliver to the Partnership canceled Debt
Securities held by the Trustee.  If the
Partnership shall acquire any of the Debt Securities, however, such acquisition
shall not operate as a redemption or satisfaction of the Debt represented
thereby unless and until the same are delivered or surrendered to the Trustee
for cancellation.  The Partnership may
not issue new Debt Securities to replace Debt Securities it has redeemed, paid
or delivered to the Trustee for cancellation except as expressly permitted by
any of the provisions of this Indenture.

Section 2.11           Provisions of the Indenture and Debt
Securities for the Sole Benefit of the Parties and the Holders.  Nothing in this Indenture or in the Debt
Securities, expressed or implied, shall give or be construed to give to any
Person, other than the parties hereto, any Persons indemnified pursuant to
Section 7.06, the Holders or any Registrar or paying agent, any legal or
equitable right, remedy or claim under or in respect of this Indenture, or
under any covenant, condition or provision herein contained, all its covenants,
conditions and provisions being for the sole benefit of the parties hereto, any
such indemnified Persons, the Holders and any Registrar and paying agents, and,
in each case, to the extent provided in Article XII, the holders of any Senior
Indebtedness, as therein provided.

Section 2.12           Payment of Interest; Interest Rights
Preserved.

(a)           Interest on any Debt
Security that is payable and is punctually paid or duly provided for on any
interest payment date shall be paid to the Person in whose name such Debt
Security is registered at the close of business on the regular record date for
such interest notwithstanding the cancellation of such Debt Security upon any
transfer or exchange subsequent to the regular record date.  Payment of interest on Debt Securities shall
be made at the corporate trust office of the Trustee (except as otherwise
specified pursuant to Section 2.03), or at the option of the Partnership, by
check mailed to the address of the Person entitled thereto as such address
shall appear in the Debt Security Register or, if provided pursuant to Section
2.03 and in accordance with arrangements satisfactory to the Trustee, at the
option of the Holder by wire transfer to an account designated by the Holder.

(b)           Subject to the
foregoing provisions of this Section 2.12 and Section 2.17, each Debt Security
of a particular series delivered under this Indenture upon registration of
transfer of 

 16
 

or in exchange for or in lieu of any other
Debt Security of the same series shall carry the rights to interest accrued and
unpaid, and to accrue, that were carried by such other Debt Security.

Section 2.13           Securities Denominated in Dollars.  Except as otherwise specified pursuant to
Section 2.03 for Debt Securities of any series, payment of the principal of,
and premium, if any, and interest on, Debt Securities of such series will be
made in Dollars.

Section 2.14           Wire Transfers.  Notwithstanding any other provision to the
contrary in this Indenture, the Partnership may make any payment of moneys
required to be deposited with the Trustee on account of principal of, or
premium, if any, or interest on, the Debt Securities (whether pursuant to
optional or mandatory redemption payments, interest payments or otherwise) by
wire transfer in immediately available funds to an account designated by the
Trustee before 11:00 a.m., New York City time, on the date such moneys are to
be paid to the Holders of the Debt Securities in accordance with the terms
hereof.

Section 2.15           Securities Issuable in the Form of a
Global Security.

(a)           If the Partnership
shall establish pursuant to Sections 2.01 and 2.03 that the Debt Securities of
a particular series are to be issued in whole or in part in the form of one or
more Global Securities, then the Partnership shall execute and the Trustee or
its agent shall, in accordance with Section 2.05, authenticate and deliver such
Global Security or Securities, which shall represent, and shall be denominated
in an amount equal to the aggregate principal amount of, the Outstanding Debt
Securities of such series to be represented by such Global Security or
Securities, or such portion thereof as the Partnership shall specify in an
Officers’ Certificate, shall be registered in the name of the Depositary for
such Global Security or Securities or its nominee, shall be delivered by the
Trustee or its agent to the Depositary or pursuant to the Depositary’s
instruction and shall bear a legend substantially to the following effect:

“UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A
NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE PARTNERSHIP OR
ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS
MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL
SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES
OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF
PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN
ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO HEREIN.”

 17
 

or such other legend as
may then be required by the Depositary for such Global Security or Securities.

(b)           Notwithstanding any
other provision of this Section 2.15 or of Section 2.07 to the contrary, and
subject to the provisions of paragraph (c) below, unless the terms of a Global
Security expressly permit such Global Security to be exchanged in whole or in
part for definitive Debt Securities in registered form, a Global Security may
be transferred, in whole but not in part and in the manner provided in Section
2.07, only by the Depositary to a nominee of the Depositary for such Global
Security, or by a nominee of the Depositary to the Depositary or another
nominee of the Depositary, or by the Depositary or a nominee of the Depositary
to a successor Depositary or a nominee of such successor for such Global
Security selected or approved by the Partnership, or to a nominee of such
successor Depositary.

(c)           (i) If at any time the
Depositary for a Global Security or Securities notifies the Partnership that it
is unwilling or unable to continue as Depositary for such Global Security or
Securities or if at any time the Depositary for the Debt Securities for such
series shall no longer be eligible or in good standing under the Exchange Act
or other applicable statute, rule or regulation, the Partnership shall appoint
a successor Depositary with respect to such Global Security or Securities.  If a successor Depositary for such Global
Security or Securities is not appointed by the Partnership within 90 days after
the Partnership receives such notice or becomes aware of such ineligibility,
the Partnership shall execute, and the Trustee or its agent, upon receipt of a
Partnership Order for the authentication and delivery of such individual Debt
Securities of such series in exchange for such Global Security or Securities,
will authenticate and deliver, individual Debt Securities of such series of
like tenor and terms in definitive form in an aggregate principal amount equal
to the principal amount of the Global Security or Securities in exchange for
such Global Security or Securities.

(ii)           The Partnership may at
any time and in its sole discretion determine that the Debt Securities of any
series or portion thereof issued or issuable in the form of one or more Global
Securities shall no longer be represented by such Global Security or
Securities.  In such event the
Partnership will execute, and the Trustee, upon receipt of a Partnership Order
for the authentication and delivery of individual Debt Securities of such
series in exchange in whole or in part for such Global Security or Securities,
will authenticate and deliver individual Debt Securities of such series of like
tenor and terms in definitive form in an aggregate principal amount equal to
the principal amount of such series or portion thereof in exchange for such
Global Security or Securities.

(iii)          If specified by the
Partnership pursuant to Sections 2.01 and 2.03 with respect to Debt Securities
issued or issuable in the form of a Global Security, the Depositary for such
Global Security may surrender such Global Security in exchange in whole or in
part for individual Debt Securities of such series of like tenor and terms in
definitive form on such terms as are acceptable to the Partnership, the Trustee
and such Depositary.  Thereupon the
Partnership shall execute, and the Trustee or its agent upon receipt of a
Partnership Order for the authentication and delivery of definitive Debt
Securities of such series shall authenticate and deliver, without service
charge, to each Person specified by such Depositary a new Debt Security or
Securities of the same series of like tenor and terms and of any authorized
denomination as requested by such Person in aggregate principal amount equal to
and in exchange for such 

 18
 

Person’s
beneficial interest in the Global Security; and to such Depositary a new Global
Security of like tenor and terms and in an authorized denomination equal to the
difference, if any, between the principal amount of the surrendered Global
Security and the aggregate principal amount of Debt Securities delivered to
Holders thereof.

(iv)          In any exchange provided
for in any of the preceding three paragraphs, the Partnership will execute and
the Trustee or its agent will authenticate and deliver individual Debt
Securities.  Upon the exchange of the
entire principal amount of a Global Security for individual Debt Securities,
such Global Security shall be canceled by the Trustee or its agent.  Except as provided in the preceding
paragraph, Debt Securities issued in exchange for a Global Security pursuant to
this Section 2.15 shall be registered in such names and in such authorized
denominations as the Depositary for such Global Security, pursuant to
instructions from its direct or indirect participants or otherwise, shall
instruct the Trustee or the Registrar. 
The Trustee or the Registrar shall deliver such Debt Securities to the
Persons in whose names such Debt Securities are so registered.

(v)           Payments in respect of
the principal of and interest on any Debt Securities issued in the form of a
Global Security registered in the name of the Depositary or its nominee will be
payable to the Depositary or such nominee in its capacity as the registered
owner of such Global Security.  The
Partnership and the Trustee may treat the Person in whose name the Debt
Securities, including the Global Security, are registered as the owner thereof
for the purpose of receiving such payments and for any and all other purposes
whatsoever.  None of the Partnership, the
Trustee, any Registrar, the paying agent or any agent of the Partnership or the
Trustee will have any responsibility or liability for any aspect of the records
relating to or payments made on account of the beneficial ownership interests
of the Global Security by the Depositary or its nominee or any of the
Depositary’s direct or indirect participants, or for maintaining, supervising
or reviewing any records of the Depositary, its nominee or any of its direct or
indirect participants relating to the beneficial ownership interests of the
Global Security, the payments to the beneficial owners of the Global Security
of amounts paid to the Depositary or its nominee, or any other matter relating
to the actions and practices of the Depositary, its nominee or any of its
direct or indirect participants.  None of
the Partnership, the Trustee or any such agent will be liable for any delay by
the Depositary, its nominee, or any of its direct or indirect participants in
identifying the beneficial owners of the Debt Securities, and the Partnership
and the Trustee may conclusively rely on, and will be protected in relying on,
instructions from the Depositary or its nominee for all purposes (including
with respect to the registration and delivery, and the respective principal
amounts, of the Debt Securities to be issued).

Section 2.16           Medium Term Securities.  Notwithstanding any contrary provision
herein, if all Debt Securities of a series are not to be originally issued at
one time, it shall not be necessary for the Partnership to deliver to the
Trustee an Officers’ Certificate, resolutions of the Board of Directors,
supplemental Indenture, Opinion of Counsel or written order or any other
document otherwise required pursuant to Section 2.01, 2.03, 2.05 or 13.05 at or
prior to the time of authentication of each Debt Security of such series if
such documents are delivered to the Trustee or its agent at or prior to the authentication
upon original issuance of the first such Debt Security of such series to be
issued; provided, that any subsequent request by the Partnership to the
Trustee to authenticate Debt Securities of such series upon original issuance
shall constitute a 

 19
 

representation
and warranty by the Partnership that, as of the date of such request, the
statements made in the Officers’ Certificate delivered pursuant to Section 2.05
or 13.05 shall be true and correct as if made on such date and that the Opinion
of Counsel delivered at or prior to such time of authentication of an original
issuance of Debt Securities shall specifically state that it shall relate to
all subsequent issuances of Debt Securities of such series that are identical
to the Debt Securities issued in the first issuance of Debt Securities of such
series.

A Partnership Order
delivered by the Partnership to the Trustee in the circumstances set forth in
the preceding paragraph may provide that Debt Securities that are the subject
thereof will be authenticated and delivered by the Trustee or its agent on
original issue from time to time upon the telephonic or written order of
Persons designated in such written order (any such telephonic instructions to
be promptly confirmed in writing by such Person) and that such Persons are
authorized to determine, consistent with the Officers’ Certificate,
supplemental Indenture or resolution of the Board of Directors relating to such
written order, such terms and conditions of such Debt Securities as are
specified in such Officers’ Certificate, supplemental Indenture or such
resolution.

Section 2.17           Defaulted Interest.  Any interest on any Debt Security of a
particular series that is payable, but is not punctually paid or duly provided
for, on the dates and in the manner provided in the Debt Securities of such
series and in this Indenture (herein called “Defaulted Interest”) shall
forthwith cease to be payable to the Holder thereof on the relevant record date
by virtue of having been such Holder, and such Defaulted Interest may be paid
by the Partnership, at its election in each case, as provided in clause (i) or
(ii) below:

(i)            The Partnership may
elect to make payment of any Defaulted Interest to the Persons in whose names
the Debt Securities of such series are registered at the close of business on a
special record date for the payment of such Defaulted Interest, which shall be
fixed in the following manner.  The
Partnership shall notify the Trustee in writing of the amount of Defaulted
Interest proposed to be paid on each such Debt Security of such series and the
date of the proposed payment, and at the same time the Partnership shall
deposit with the Trustee an amount of money equal to the aggregate amount
proposed to be paid in respect of such Defaulted Interest or shall make
arrangements satisfactory to the Trustee for such deposit prior to the date of
the proposed payment, such money when deposited to be held in trust for the
benefit of the Persons entitled to such Defaulted Interest as in this clause
provided.  Thereupon the Trustee shall
fix a special record date for the payment of such Defaulted Interest that shall
be not more than 15 days and not less than 10 days prior to the date of the
proposed payment and not less than 10 days after the receipt by the Trustee of
the notice of the proposed payment.  The
Trustee shall promptly notify the Partnership of such special record date and,
in the name and at the expense of the Partnership, shall cause notice of the
proposed payment of such Defaulted Interest and the special record date
therefor to be mailed, first class postage pre-paid, to each Holder thereof at
its address as it appears in the Debt Security Register, not less than 10 days
prior to such special record date.  Notice
of the proposed payment of such Defaulted Interest and the special record date
therefor having been so mailed, such Defaulted Interest shall be paid to the
Persons in whose names the Debt Securities of such series are registered at the
close of business on such special record date.

 20
 

(ii)           The Partnership may
make payment of any Defaulted Interest on the Debt Securities of such series in
any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Debt Securities of such series may be listed,
and upon such notice as may be required by such exchange, if, after notice
given by the Partnership to the Trustee of the proposed payment pursuant to
this clause, such manner of payment shall be deemed practicable by the Trustee.

Section 2.18           CUSIP and Corresponding ISIN Numbers.  The Partnership in issuing the Debt
Securities may use “CUSIP” and corresponding “ISIN” numbers (if
then generally in use), and, if so, the Trustee shall use “CUSIP” and
corresponding “ISIN” numbers in notices of redemption as a convenience
to Holders; provided that any such notice may state that no
representation is made as to the accuracy of such numbers either as printed on
the Debt Securities or as contained in any notice of a redemption and that
reliance may be placed only on the other identification numbers printed on the
Debt Securities, and any such redemption shall not be affected by any defect in
or omission of such numbers. The Partnership will promptly notify the Trustee
in writing of any change in the “CUSIP” and corresponding “ISIN”
numbers.

ARTICLE III

REDEMPTION OF DEBT SECURITIES

Section 3.01           Applicability of Article.  The provisions of this Article shall be
applicable to the Debt Securities of any series that are redeemable before
their Stated Maturity except as otherwise specified as contemplated by Section
2.03 for Debt Securities of such series.

Section 3.02           Notice of Redemption; Selection of Debt
Securities.  In case the Partnership
shall desire to exercise the right to redeem all or, as the case may be, any
part of the Debt Securities of any series in accordance with their terms, by
resolution of the Board of Directors or a supplemental Indenture, the
Partnership shall fix a date for redemption and shall give notice of such
redemption at least 30 and not more than 60 days prior to the date fixed for
redemption to the Holders of Debt Securities of such series so to be redeemed
as a whole or in part, in the manner provided in Section 13.03.  The notice if given in the manner herein provided
shall be conclusively presumed to have been duly given, whether or not the
Holder receives such notice.  In any
case, failure to give such notice or any defect in the notice to the Holder of
any Debt Security of a series designated for redemption as a whole or in part
shall not affect the validity of the proceedings for the redemption of any
other Debt Security of such series.

Each such notice of
redemption shall specify (i) the Redemption Date; (ii) the redemption price at
which Debt Securities of such series are to be redeemed (or the method of
calculating such redemption price); (iii) the Place or Places of Payment that
payment will be made upon presentation and surrender of such Debt Securities;
(iv) that any interest accrued to the Redemption Date will be paid as specified
in said notice; (v) that the redemption is for a sinking fund payment (if
applicable); (vi) that, unless otherwise specified in such notice, unless the
Partnership defaults in making such redemption payment or the Debt Securities
of that series are subordinated pursuant to the terms of Article XII and the
paying agent is prohibited from making such payment pursuant to the terms of
this Indenture, on and after said date any interest thereon or on the portions
thereof to be redeemed will cease to accrue; (vii) that in the case of Original
Issue Discount Securities original issue discount accrued after the Redemption
Date will cease to 

 21
 

accrue; (viii) the
terms of the Debt Securities of that series pursuant to which the Debt
Securities of that series are being redeemed; (ix) and that no representation
is made as to the correctness or accuracy of the CUSIP or ISIN number, if any,
listed in such notice or printed on the Debt Securities of that series.  If less than all the Debt Securities of a
series are to be redeemed at any time, the notice of redemption shall identify
the particular Debt Securities (or portion thereof) of that series to be
redeemed.  In case any Debt Security of a
series is to be redeemed in part only, the notice of redemption shall state the
portion of the principal amount thereof to be redeemed and shall state that on
and after the Redemption Date, upon surrender of such Debt Security, a new Debt
Security or Debt Securities of that series in principal amount equal to the
unredeemed portion thereof will be issued.

At least five days before
the giving of any notice of redemption, unless the Trustee consents to a
shorter period, the Partnership shall give written notice to the Trustee of the
Redemption Date, the principal amount of Debt Securities to be redeemed and the
series and terms of the Debt Securities pursuant to which such redemption will
occur. Such notice shall be accompanied by an Officers’ Certificate and an
Opinion of Counsel from the Partnership to the effect that such redemption will
comply with the conditions herein and such notice may be revoked at any time
prior to the giving of a notice of redemption to the Holders pursuant to this
Section 3.02.  If fewer than all the Debt
Securities of a series are to be redeemed, the record date relating to such
redemption shall be selected by the Partnership and given in writing to the
Trustee, which record date shall be not less than three days after the date of
notice to the Trustee.

By 11 a.m., New York City
time, on the Redemption Date for any Debt Securities, the Partnership shall
deposit with the Trustee or with a paying agent (or, if the Partnership is
acting as its own paying agent, segregate and hold in trust) an amount of money
in Dollars (except as provided pursuant to Section 2.03) sufficient to pay the
redemption price of such Debt Securities or any portions thereof that are to be
redeemed on that date, together with any interest accrued to the Redemption
Date.

If less than all the Debt
Securities of like tenor and terms of a series are to be redeemed (other than
pursuant to mandatory sinking fund redemptions) the Trustee shall select, on a
pro rata basis, by lot or by such other method as in its sole discretion it
shall deem appropriate and fair, the Debt Securities of that series or portions
thereof (in multiples of $1,000) to be redeemed. In any case where more than
one Debt Security of such series is registered in the same name, the Trustee in
its discretion may treat the aggregate principal amount so registered as if it
were represented by one Debt Security of such series.  The Trustee shall promptly notify the
Partnership in writing of the Debt Securities selected for redemption and, in
the case of any Debt Securities selected for partial redemption, the principal
amount thereof to be redeemed. If any Debt Security called for redemption shall
not be so paid upon surrender thereof on the Redemption Date, the principal,
premium, if any, and interest shall bear interest until paid from the
Redemption Date at the rate borne by the Debt Securities of that series.  If less than all the Debt Securities of
unlike tenor and terms of a series are to be redeemed, the particular Debt
Securities to be redeemed shall be selected by the Partnership. Provisions of
this Indenture that apply to Debt Securities called for redemption also apply
to portions of Debt Securities called for redemption.

 22

Notwithstanding anything else contained in this
Section 3.02, the parties acknowledge and agree that any partial redemption of
a Global Security will be made by the Depositary among the holders of the
beneficial interests therein in accordance with the rules and regulations of
the Depositary, and that the Trustee shall have no liability in connection with
the selection of beneficial interests in the Global Security in connection with
any such redemption or any other actions taken by the Depository in connection
therewith, and by accepting the Debt Securities, the Holders shall waive and
release any and all such liability.

Section
3.03           Payment
of Debt Securities Called for Redemption. 
If notice of redemption has been given as provided in Section 3.02, the
Debt Securities or portions of Debt Securities of the series with respect to
which such notice has been given shall become due and payable on the date and
at the Place or Places of Payment stated in such notice at the applicable
redemption price, together with any interest accrued to the Redemption Date,
and on and after said date (unless the Partnership shall default in the payment
of such Debt Securities at the applicable redemption price, together with any
interest accrued to said date) any interest on the Debt Securities or portions
of Debt Securities of any series so called for redemption shall cease to
accrue, and any original issue discount in the case of Original Issue Discount
Securities shall cease to accrue.  On
presentation and surrender of such Debt Securities at the Place or Places of
Payment in said notice specified, the said Debt Securities or the specified
portions thereof shall be paid and redeemed by the Partnership at the
applicable redemption price, together with any interest accrued thereon to the
Redemption Date.

Any Debt Security that is to be redeemed only in part
shall be surrendered at the Place of Payment with, if the Partnership, the
Registrar or the Trustee so requires, due endorsement by, or a written
instrument of transfer in form satisfactory to the Partnership, the Registrar
and the Trustee duly executed by, the Holder thereof or his attorney duly
authorized in writing, and the Partnership shall execute, and the Trustee shall
authenticate and deliver to the Holder of such Debt Security without service
charge, a new Debt Security or Debt Securities of the same series, of like
tenor and form, of any authorized denomination as requested by such Holder in
aggregate principal amount equal to and in exchange for the unredeemed portion
of the principal of the Debt Security so surrendered; except that if a Global
Security is so surrendered, the Partnership shall execute, and the Trustee
shall authenticate and deliver to the Depositary for such Global Security,
without service charge, a new Global Security in a denomination equal to and in
exchange for the unredeemed portion of the principal of the Global Security so
surrendered.  In the case of a Debt
Security providing appropriate space for such notation, at the option of the
Holder thereof, the Trustee, in lieu of delivering a new Debt Security or Debt
Securities as aforesaid, may make a notation on such Debt Security of the
payment of the redeemed portion thereof.

Section
3.04           Mandatory
and Optional Sinking Funds.  The
minimum amount of any sinking fund payment provided for by the terms of Debt
Securities of any series, resolution of the Board of Directors or a
supplemental Indenture is herein referred to as a “mandatory sinking fund
payment,” and any payment in excess of such minimum amount provided for by
the terms of Debt Securities of any series, resolution of the Board of
Directors or a supplemental Indenture is herein referred to as an “optional
sinking fund payment.”

 23
 

In
lieu of making all or any part of any mandatory sinking fund payment with
respect to any Debt Securities of a series in cash, the Partnership may at its
option (a) deliver to the Trustee Debt Securities of that series theretofore
purchased or otherwise acquired by the Partnership or (b) receive credit for
the principal amount of Debt Securities of that series that have been redeemed
either at the election of the Partnership pursuant to the terms of such Debt
Securities or through the application of permitted optional sinking fund
payments pursuant to the terms of such Debt Securities, resolution or
supplemental Indenture; provided, that such Debt Securities have not
been previously so credited.  Such Debt
Securities shall be received and credited for such purpose by the Trustee at
the redemption price specified in such Debt Securities, resolution or
supplemental Indenture for redemption through operation of the sinking fund and
the amount of such mandatory sinking fund payment shall be reduced accordingly.

Section
3.05           Redemption
of Debt Securities for Sinking Fund. 
Not less than 60 days prior to each sinking fund payment date for any
series of Debt Securities, the Partnership will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing sinking fund
payment for that series pursuant to the terms of that series, any resolution or
supplemental Indenture, the portion thereof, if any, that is to be satisfied by
payment of cash and the portion thereof, if any, that is to be satisfied by
delivering and crediting Debt Securities of that series pursuant to this
Section 3.05 (which Debt Securities, if not previously redeemed, will accompany
such certificate) and whether the Partnership intends to exercise its right to
make any permitted optional sinking fund payment with respect to such series.  Such certificate shall also state that no
Event of Default has occurred and is continuing with respect to such
series.  Such certificate shall be
irrevocable and upon its delivery the Partnership shall be obligated to make
the cash payment or payments therein referred to, if any, by 11 a.m., New York
City time, on the next succeeding sinking fund payment date.  Failure of the Partnership to deliver such
certificate (or to deliver the Debt Securities specified in this paragraph)
shall not constitute a Default, but such failure shall require that the sinking
fund payment due on the next succeeding sinking fund payment date for that
series shall be paid entirely in cash and shall be sufficient to redeem the
principal amount of such Debt Securities subject to a mandatory sinking fund
payment without the option to deliver or credit Debt Securities as provided in
this Section 3.05 and without the right to make any optional sinking fund
payment, if any, with respect to such series.

Any sinking fund payment or payments (mandatory or
optional) made in cash plus any unused balance of any preceding sinking fund
payments made in cash that shall equal or exceed $100,000 (or a lesser sum if
the Partnership shall so request) with respect to the Debt Securities of any
particular series shall be applied by the Trustee on the sinking fund payment
date on which such payment is made (or, if such payment is made before a
sinking fund payment date, on the sinking fund payment date following the date
of such payment) to the redemption of such Debt Securities at the redemption
price specified in such Debt Securities, resolution or supplemental Indenture
for operation of the sinking fund together with any accrued interest to the
date fixed for redemption.  Any sinking
fund moneys not so applied or allocated by the Trustee to the redemption of
Debt Securities shall be added to the next cash sinking fund payment received
by the Trustee for such series and, together with such payment, shall be
applied in accordance with the provisions of this Section 3.05.  Any and all sinking fund moneys with respect
to the Debt Securities of any particular series held by the Trustee on the last
sinking fund payment date with respect to Debt Securities of such series and
not held for the payment or redemption of particular Debt Securities shall be
applied by the Trustee, together with other 

 24
 

moneys, if necessary, to
be deposited sufficient for the purpose, to the payment of the principal of the
Debt Securities of that series at its Stated Maturity.

The Trustee shall select the Debt Securities to be
redeemed upon such sinking fund payment date in the manner specified in the
last paragraph of Section 3.02, and the Partnership shall cause notice of the
redemption thereof to be given in the manner provided in Section 3.02 except
that the notice of redemption shall also state that the Debt Securities are
being redeemed by operation of the sinking fund.  Such notice having been duly given, the
redemption of such Debt Securities shall be made upon the terms and in the manner
stated in Section 3.03.

The Trustee shall not redeem any Debt Securities of a
series with sinking fund moneys or mail any notice of redemption of such Debt
Securities by operation of the sinking fund for such series during the
continuance of a Default in payment of interest on such Debt Securities or of
any Event of Default (other than an Event of Default occurring as a consequence
of this paragraph) with respect to such Debt Securities, except that if the
notice of redemption of any such Debt Securities shall theretofore have been
mailed in accordance with the provisions hereof, the Trustee shall redeem such
Debt Securities if cash sufficient for that purpose shall be deposited with the
Trustee for that purpose in accordance with the terms of this Article III.  Except as aforesaid, any moneys in the
sinking fund for such series at the time when any such Default or Event of
Default shall occur and any moneys thereafter paid into such sinking fund
shall, during the continuance of such Default or Event of Default, be held as
security for the payment of such Debt Securities; provided, however,
that in case such Default or Event of Default shall have been cured or waived
as provided herein, such moneys shall thereafter be applied on the next sinking
fund payment date for such Debt Securities on which such moneys may be applied
pursuant to the provisions of this Section 3.05.

ARTICLE
IV

PARTICULAR COVENANTS OF THE PARTNERSHIP

Section
4.01           Payment
of Principal of, and Premium, If Any, and Interest on, Debt Securities.  The Partnership, for the benefit of each
series of Debt Securities, will duly and punctually pay or cause to be paid the
principal of, and premium, if any, and interest on, each of the Debt Securities
at the place, at the respective times and in the manner provided herein or in
the Debt Securities.  Each installment of
interest on the Debt Securities (other than Debt Securities represented by a
Global Security) may at the Partnership’s option be paid by mailing checks for
such interest payable to the Person entitled thereto pursuant to Section
2.07(a) to the address of such Person as it appears on the Debt Security
Register.

Principal of and premium and interest on Debt
Securities of any series shall be considered paid on the date due if, by 11 a.m.,
New York City time, on such date the Trustee or any paying agent holds in
accordance with this Indenture money sufficient to pay in Dollars all
principal, premium and interest then due and, in the case of Debt Securities
subordinated pursuant to the terms of Article XII, the Trustee or such paying
agent, as the case may be, is not prohibited from paying such money to the
Holders on that date pursuant to the terms of this Indenture.

 25
 

The Partnership shall pay interest on overdue
principal or premium, if any, at the rate specified therefor in the Debt
Securities and it shall pay interest on overdue installments of interest at the
same rate to the extent lawful.

Section
4.02           Maintenance
of Offices or Agencies for Registration of Transfer, Exchange and Payment of
Debt Securities.  The Partnership
will maintain in each Place of Payment for any series of Debt Securities an
office or agency where (a) Debt Securities of such series may be presented or
surrendered for payment, (b) Debt Securities of such series may be surrendered
for transfer or exchange and (c) notices and demands to or upon the Partnership
in respect of the Debt Securities of such series and this Indenture may be
served.  The Partnership will give prompt
written notice to the Trustee of the location, and any change in the location,
of such office or agency.  If at any time
the Partnership 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 office of the
Trustee where its corporate trust business is principally administered in the
United States, and the Partnership hereby appoints the Trustee as its agent to
receive all presentations, surrenders, notices and demands.

The Partnership may also from time to time designate
different or additional offices or agencies to be maintained for such purposes
(in or outside of such Place of Payment), and may from time to time rescind any
such designation; provided, however, that no such designation or
rescission shall in any manner relieve the Partnership of its obligations
described in the preceding paragraph. 
The Partnership will give prompt written notice to the Trustee of any
such additional designation or rescission of designation and any change in the
location of any such different or additional office or agency.

Section
4.03           Appointment
to Fill a Vacancy in the Office of Trustee. 
The Partnership, whenever necessary to avoid or fill a vacancy in the
office of Trustee, will appoint, in the manner provided in Section 7.08, a
Trustee, so that there shall at all times be a Trustee hereunder with respect
to each series of Debt Securities.

Section
4.04           Duties
of Paying Agents, etc.  (a) The
Partnership shall cause each paying agent, if any, other than the Trustee, to
execute and deliver to the Trustee an instrument in which such agent shall
agree with the Trustee, subject to the provisions of this Section 4.04,

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

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

 26
 

(iii)          that it will at any time
during the continuance of an Event of Default, upon the written request of the
Trustee, forthwith pay to the Trustee all sums so held by it as such agent.

(b)           If
the Partnership shall act as its own paying agent, it will, on or before each
due date of the principal of, and premium, if any, or interest on, the Debt
Securities of any series, set aside, segregate and hold in trust for the
benefit of the Holders of the Debt Securities of such series a sum sufficient
to pay such principal, premium, if any, or interest so becoming due.  The Partnership will promptly notify the
Trustee of any failure by the Partnership to take such action or the failure by
any other obligor on such Debt Securities to make any payment of the principal
of, and premium, if any, or interest on, such Debt Securities when the same
shall be due and payable.

(c)           Anything
in this Section 4.04 to the contrary notwithstanding, the Partnership may, at
any time, for the purpose of obtaining a satisfaction and discharge of this
Indenture, or for any other reason, pay or cause to be paid to the Trustee all
sums held in trust by it or any paying agent, as required by this Section 4.04,
such sums to be held by the Trustee upon the same trusts as those upon which
such sums were held by the Partnership or such paying agent.

(d)           Whenever
the Partnership shall have one or more paying agents with respect to any series
of Debt Securities, it will, prior to each due date of the principal of, and
premium, if any, or interest on, any Debt Securities of such series, deposit
with any such paying agent a sum sufficient to pay the principal, premium or
interest so becoming due, such sum to be held in trust for the benefit of the
Persons entitled thereto, and (unless any such paying agent is the Trustee) the
Partnership will promptly notify the Trustee of its action or failure so to
act.

(e)           Anything
in this Section 4.04 to the contrary notwithstanding, the agreement to hold
sums in trust as provided in this Section 4.04 is subject to the provisions of
Section 11.05.

Section
4.05           SEC
Reports; Financial Statements.

(a)           The
Partnership shall, so long as any of the Debt Securities are Outstanding, file
with the Trustee, within 15 days after it files the same with the SEC, copies
of the annual reports and the information, documents and other reports (or
copies of such portions of any of the foregoing as the SEC may by rules and
regulations prescribe) that the Partnership is required to file with the SEC
pursuant to Section 13 or 15(d) of the Exchange Act.  If the Partnership is not subject to the
requirements of such Section 13 or 15(d), the Partnership shall file with the
Trustee, within 15 days after it would have been required to file the same with
the SEC, financial statements, including any notes thereto (and with respect to
annual reports, an auditors’ report by a firm of established national
reputation), and a “Management’s Discussion and Analysis of Financial
Condition and Results of Operations,” both comparable to that which the
Partnership would have been required to include in such annual reports,
information, documents or other reports if the Partnership had been subject to
the requirements of such Section 13 or 15(d). 
The Partnership shall also comply with the provisions of TIA Section
314(a).

 27
 

(b)           The
Partnership shall provide the Trustee with a sufficient number of copies of all
reports and other documents and information that the Trustee may be required to
deliver to Holders under this Section.

(c)           Delivery of such reports, information
and documents to the Trustee pursuant to this Section 4.05 is for informational
purposes only, and the Trustee’s receipt of such shall not constitute notice or
constructive notice of any information contained therein or determinable from
information contained therein, including the Partnership’s compliance with any
of its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates).

Section
4.06           Compliance
Certificate.

(a)           The
Partnership shall, so long as any of the Debt Securities are outstanding,
deliver to the Trustee, within 120 days after the end of each fiscal year of
the Partnership, an Officers’ Certificate stating (i) that a review of the
activities of the Partnership and its Subsidiaries during the preceding fiscal
year has been made under the supervision of the signing Officers of the General
Partner on behalf of the Partnership with a view to determining whether the
Partnership has kept, observed, performed and fulfilled its obligations under
this Indenture, (ii) that as to each such Officer signing such certificate,
that to the best of his knowledge the Partnership has kept, observed, performed
and fulfilled each and every covenant contained in this Indenture and is not in
default in the performance or observance of any of the terms, provisions and
conditions hereof, without regard to any grace period or requirement of notice
required by this Indenture (or, if a Default or Event of Default shall have
occurred, describing all such Defaults or Events of Default of which such
Officer may have knowledge and what action the Partnership, is taking or
proposes to take with respect thereto) and (iii) that to the best of his
knowledge no event has occurred and is continuing by reason of which payments
on account of the principal of, or premium, if any, or interest, if any, on the
Debt Securities are prohibited or, if such event has occurred, a description of
the event and what action the Partnership is taking or proposes to take with
respect thereto.

(b)           The
Partnership shall, so long as any of the Debt Securities are outstanding,
deliver to the Trustee within 30 days after the occurrence of any Default or
Event of Default under this Indenture, an Officers’ Certificate specifying such
Default or Event of Default, the status thereof and what action the Partnership
is taking or proposes to take with respect thereto.

Section
4.07           Further
Instruments and Acts.  The Partnership
will, upon request of the Trustee, execute and deliver such further instruments
and do such further acts as may reasonably be necessary or proper to carry out
more effectually the purposes of this Indenture.

Section
4.08           Existence.  Except as permitted by Article X hereof, the
Partnership shall do or cause to be done all things necessary to preserve and
keep in full force and effect its existence and all rights (charter and
statutory) and franchises of the Partnership, provided that the
Partnership shall not be required to preserve any such right or franchise, if
the Board of Directors shall determine that the preservation thereof is no
longer desirable in the conduct of the business of the Partnership.

Section
4.09           Maintenance
of Properties.  The Partnership shall
cause all properties owned by the Partnership or any of its Subsidiaries or
used or held for use in the conduct of its business or the business of any such
Subsidiary to be maintained and kept in good condition, repair and working
order (reasonable wear and tear excepted) and supplied with all necessary
equipment and will cause to be made all necessary repairs, renewals,
replacements, betterments and improvements thereof, all as in the judgment of
the Partnership may be necessary so that the business carried on in connection
therewith may be properly and advantageously conducted at all 

 28
 

times; provided
that nothing in this Section shall prevent the Partnership from discontinuing
the operation or maintenance of any of such properties if such discontinuance
is, in the judgment of the Partnership, desirable in the conduct of its
business or the business of any such Subsidiary and not disadvantageous in any
material respect to the Holders.

Section
4.10           Payment
of Taxes and Other Claims.  The
Partnership shall pay or discharge or cause to be paid or discharged, before
the same shall become delinquent, (i) all taxes, assessments and governmental
charges levied or imposed upon the Partnership or any of its Subsidiaries or
upon the income, profits or property of the Partnership or any of its
Subsidiaries, and (ii) all lawful claims for labor, materials and supplies
which, if unpaid, might by law become a Lien upon the property of the
Partnership or any of its Subsidiaries; provided that the Partnership
shall not be required to pay or discharge or cause to be paid or discharged any
such tax, assessment, charge or claim whose amount, applicability or validity
is being contested in good faith by appropriate proceedings.

Section
4.11           Waiver
of Certain Covenants.  The
Partnership may, with respect to the Debt Securities of any series, omit in any
particular instance to comply with any term, provision or condition set forth
in this Article IV (except Sections 4.01 through 4.08) or made applicable to
such Debt Securities pursuant to Section 2.03, if, before or after the time for
such compliance, the Holders of at least a majority in principal amount of the
Outstanding Debt Securities of such series, waive such compliance in such
instance with such term, provision or condition, but no such waiver shall
extend to or affect such term, provision or condition except to the extent so
expressly waived, and, until such waiver shall become effective, the
obligations of the Partnership and the duties of the Trustee in respect of any
such term, provision or condition shall remain in full force and effect.  Notwithstanding the foregoing, without the
consent of each Holder of Outstanding Debt Securities affected, there shall be
no waiver of any past Default or Event of Default in respect of (i) the payment
of principal of, premium, if any, or interest on any Debt Securities, or (ii) a
provision of the Indenture or a supplemental Indenture that cannot be amended
without the consent of the Holder of each outstanding Debt Security affected.

ARTICLE V

HOLDERS’ LISTS AND REPORTS BY THE TRUSTEE

Section
5.01           Partnership
to Furnish Trustee Information as to Names and Addresses of Holders;
Preservation of Information.  The
Partnership covenants and agrees that it will furnish or cause to be furnished
to the Trustee with respect to the Debt Securities of each series:

(a)           not
more than 10 days after each record date with respect to the payment of
interest, if any, a list, in such form as the Trustee may reasonably require,
of the names and addresses of the Holders as of such record date, and

(b)           at
such other times as the Trustee may request in writing, within 30 days after
the receipt by the Partnership of any such request, a list of similar form and
contents as of a date not more than 15 days prior to the time such list is
furnished;

provided, however, that so
long as the Trustee shall be the Registrar, such lists shall not be required to
be furnished.

 29
 

The Trustee shall preserve, in as current a form as is
reasonably practicable, all information as to the names and addresses of the
Holders (i) contained in the most recent list furnished to it as provided in
this Section 5.01 or (ii) received by it in the capacity of paying agent or
Registrar (if so acting) hereunder.  The
Trustee may destroy any list furnished to it as provided in this Section 5.01
upon receipt of a new list so furnished.

Section
5.02           Communications
to Holders.  Holders may communicate
pursuant to Section 312(b) of the TIA with other Holders with respect to their
rights under this Indenture or the Debt Securities.  The Partnership, the Trustee, the Registrar
and anyone else shall have the protection of Section 312(c) of the TIA.

Section
5.03           Reports
by Trustee.  Within 60 days after each
January 31, beginning with the first January 31 following the date of this
Indenture, and in any event on or before April 1 in each year, the Trustee
shall mail to Holders a brief report dated as of such January 31 that complies
with TIA Section 313(a); provided, however, that if no event described
in TIA Section 313(a) has occurred within the twelve months preceding the
reporting date, no report need be transmitted. 
The Trustee also shall comply with TIA Section 313(b).

Reports pursuant to this Section 5.03 shall be
transmitted by mail:

(a)           to
all Holders, as the names and addresses of such Holders appear in the Debt
Security Register; and

(b)           except
in the cases of reports under Section 313(b)(2) of the TIA, to each Holder of a
Debt Security of any series whose name and address appear in the information
preserved at the time by the Trustee in accordance with Section 5.01.

A copy of each report at the time of its mailing to
Holders shall be filed with the SEC and each securities exchange (if any) on
which the Debt Securities of any series are listed.  The Partnership agrees to notify promptly the
Trustee whenever the Debt Securities of any series become listed on any
securities exchange and of any delisting thereof.

Section
5.04           Record
Dates for Action by Holders.  If the
Partnership shall solicit from the Holders of Debt Securities of any series any
action (including the making of any demand or request, the giving of any
direction, notice, consent or waiver or the taking of any other action), the
Partnership may, at its option, by resolution of the Board of Directors, fix in
advance a record date for the determination of Holders of Debt Securities
entitled to take such action, but the Partnership shall have no obligation to
do so.  Any such record date shall be
fixed at the Partnership’s discretion. 
If such a record date is fixed, such action may be sought or given
before or after the record date, but only the Holders of Debt Securities of
record at the close of business on such record date shall be deemed to be
Holders of Debt Securities for the purpose of determining whether Holders of
the requisite proportion of Debt Securities of such series Outstanding have
authorized or agreed or consented to such action and for that purpose the Debt
Securities of such series Outstanding shall be computed as of such record date.

 30
 

ARTICLE
VI

REMEDIES OF THE TRUSTEE AND HOLDERS IN EVENT OF DEFAULT

Section
6.01           Events
of Default.  If any one or more of
the following shall have occurred and be continuing with respect to Debt
Securities of any series (each of the following, an “Event of Default”):

(a)           default
in the payment of any installment of interest upon any Debt Securities of that
series as and when the same shall become due and payable, whether or not such
payment shall be prohibited by Article XII, if applicable, and continuance of
such default for a period of 30 days; or

(b)           default
in the payment of the principal of or premium, if any, on any Debt Securities
of that series as and when the same shall become due and payable, whether at
maturity, upon redemption, by declaration, upon required repurchase or
otherwise, whether or not such payment shall be prohibited by Article XII, if
applicable; or

(c)           default
in the payment of any sinking fund payment with respect to any Debt Securities
of that series as and when the same shall become due and payable; or

(d)           failure
on the part of the Partnership duly to observe or perform any other of the
covenants or agreements on the part of the Partnership in the Debt Securities
of that series, in or pursuant to any resolution of the Board of Directors
authorizing the issuance of that series of Debt Securities and set forth in an
Officers’ Certificate, in this Indenture with respect to such series or in any
supplemental Indenture with respect to such series (other than a covenant a
default in the performance of which is elsewhere in this Section specifically
dealt with), continuing for a period of 60 days after the date on which written
notice specifying such failure and requiring the Partnership to remedy the same
shall have been given to the Partnership by the Trustee or to the Partnership
and the Trustee by the Holders of at least 25% in aggregate principal amount of
the Debt Securities of that series at the time Outstanding; or

(e)           the
Partnership, pursuant to or within the meaning of any Bankruptcy Law,

(i)            commences a voluntary
case,

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

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

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

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

(i)            is for relief against
the Partnership as debtor in an involuntary case,

 31
 

(ii)           appoints a Custodian of
the Partnership or a Custodian for all or substantially all of the property of
the Partnership, or

(iii)          orders the liquidation
of the Partnership,

and the order or decree remains unstayed and in effect
for 90 days; or

(g)           any
other Event of Default provided with respect to Debt Securities of that series;

then and in
each and every case that an Event of Default described in clause (a), (b), (c),
(d), and (g) with respect to Debt Securities of that series at the time
Outstanding occurs and is continuing, unless the principal of, premium, if any,
and interest on all the Debt Securities of that series shall have already
become due and payable, either the Trustee or the Holders of not less than 25%
in aggregate principal amount of the Debt Securities of that series then
Outstanding hereunder, by notice in writing to the Partnership (and to the
Trustee if given by Holders), may declare the principal of (or, if the Debt
Securities of that series are Original Issue Discount Debt Securities, such portion
of the principal amount as may be specified in the terms of that series),
premium, if any, and accrued and unpaid interest on all the Debt Securities of
that series to be due and payable immediately, and upon any such declaration
the same shall become and shall be immediately due and payable, anything in
this Indenture or in the Debt Securities of that series contained to the
contrary notwithstanding.  If an Event of
Default described in clause (e) or (f) occurs, then and in each and every such
case, unless the principal of and interest on all the Debt Securities of that
series then Outstanding shall have become due and payable, the principal of
(or, if any Debt Securities of that series are Original Issue Discount Debt
Securities, such portion of the principal amount as may be specified in the
terms of that series), premium, if any, and accrued and unpaid interest on all
the Debt Securities of that series then Outstanding hereunder shall ipso facto
become and be immediately due and payable without any declaration or other act
on the part of the Trustee or any Holders, anything in this Indenture or in the
Debt Securities contained to the contrary notwithstanding.

The Holders of a majority in aggregate principal
amount of the Debt Securities of a particular series by written notice to the
Trustee may rescind an acceleration and its consequences if the rescission
would not conflict with any judgment or decree of a court of competent
jurisdiction already rendered and if all existing Events of Default with respect
to Debt Securities of that series have been cured or waived except nonpayment
of principal, premium, if any, or interest that has become due solely because
of acceleration.  Upon any such
rescission, the parties hereto shall be restored respectively to their several
positions and rights hereunder, and all rights, remedies and powers of the
parties hereto shall continue as though no such proceeding had been taken.

Section
6.02           Collection
of Debt by Trustee, etc.  If an Event
of Default occurs and is continuing, the Trustee, in its own name and as
trustee of an express trust, shall be entitled and empowered to institute any
action or proceedings at law or in equity for the collection of the sums so due
and unpaid or enforce the performance of any provision of the Debt Securities
of the affected series or this Indenture, and may prosecute any such action or
proceedings to judgment or final decree, and may enforce any such judgment or
final decree against the Partnership or any other obligor upon the Debt Securities
of such series (and collect in the manner provided by law 

 32
 

out of the
property of the Partnership or any other obligor upon the Debt Securities of
such series wherever situated the moneys adjudged or decreed to be payable).

In case there shall be pending proceedings for the
bankruptcy or for the reorganization of the Partnership or any other obligor
upon the Debt Securities of any series under any Bankruptcy Law, or in case a Custodian
shall have been appointed for its property, or in case of any other similar
judicial proceedings relative to the Partnership or any other obligor upon the
Debt Securities of any series, its creditors or its property, the Trustee,
irrespective of whether the principal of Debt Securities of any series shall
then be due and payable as therein expressed or by declaration or otherwise and
irrespective of whether the Trustee shall have made any demand pursuant to the
provisions of this Section 6.02, shall be entitled and empowered, by
intervention in such proceedings or otherwise, to file and prove a claim or
claims for the whole amount of principal, premium, if any, and interest (or, if
the Debt Securities of such series are Original Issue Discount Debt Securities,
such portion of the principal amount as may be specified in the terms of such
series) owing and unpaid in respect of the Debt Securities of such series, and
to file such other papers or documents as may be necessary or advisable in
order to have the claims of the Trustee (including any claim for reasonable
compensation to the Trustee, its agents, attorneys and counsel, and for
reimbursement of all expenses and liabilities incurred, and all advances made,
by the Trustee except as a result of its negligence or bad faith) and of the
Holders thereof allowed in any such judicial proceedings relative to the
Partnership, or any other obligor upon the Debt Securities of such series, its
creditors or its property, and to collect and receive any moneys or other
property payable or deliverable on any such claims, and to distribute all
amounts received with respect to the claims of such Holders and of the Trustee
on their behalf, and any receiver, assignee or trustee in bankruptcy or
reorganization is hereby authorized by each of such Holders to make payments to
the Trustee, and, in the event that the Trustee shall consent to the making of
payments directly to such Holders, to pay to the Trustee such amount as shall
be sufficient to cover reasonable compensation to the Trustee, its agents,
attorneys and counsel, and all other reasonable expenses and liabilities
incurred, and all advances made, by the Trustee except as a result of its
negligence or bad faith.

All rights of action and of asserting claims under
this Indenture, or under any of the Debt Securities of any series, may be
enforced by the Trustee without the possession of any such Debt Securities, or
the production thereof in any trial or other proceedings relative thereto, and
any such action or proceedings instituted by the Trustee shall be brought in
its own name as trustee of an express trust, and any recovery of judgment
(except for any amounts payable to the Trustee pursuant to Section 7.06) shall
be for the ratable benefit of the Holders of all the Debt Securities in respect
of which such action was taken.

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

 33
 

Section 6.03           Application of Moneys Collected by
Trustee.  Any moneys or other
property collected by the Trustee pursuant to Section 6.02 with respect to Debt
Securities of any series shall be applied, after giving effect to the
provisions of Article XII, if applicable, in the order following, at the date
or dates fixed by the Trustee for the distribution of such moneys or other
property, upon presentation of the several Debt Securities of such series in
respect of which moneys or other property have been collected, and the notation
thereon of the payment, if only partially paid, and upon surrender thereof if
fully paid:

FIRST: To the payment of all money due the Trustee
pursuant to Section 7.06;

SECOND: In case the principal of the Outstanding Debt
Securities in respect of which such moneys have been collected shall not have
become due, to the payment of interest on the Debt Securities of such series in
the order of the maturity of the installments of such interest, with interest
(to the extent that such interest has been collected by the Trustee) upon the
overdue installments of interest at the rate or Yield to Maturity (in the case
of Original Issue Discount Debt Securities) borne by the Debt Securities of
such series, such payments to be made ratably to the Persons entitled thereto,
without discrimination or preference;

THIRD: In case the principal of the Outstanding Debt
Securities in respect of which such moneys have been collected shall have
become due, by declaration or otherwise, to the payment of the whole amount
then owing and unpaid upon the Debt Securities of such series for principal and
premium, if any, and interest, with interest on the overdue principal and
premium, if any, and (to the extent that such interest has been collected by
the Trustee) upon overdue installments of interest at the rate or Yield to
Maturity (in the case of Original Issue Discount Debt Securities) borne by the Debt
Securities of such series; and, in case such moneys shall be insufficient to
pay in full the whole amount so due and unpaid upon the Debt Securities of such
series, then to the payment of such principal and premium, if any, and
interest, without preference or priority of principal and premium, if any, over
interest, or of interest over principal and premium, if any, or of any
installment of interest over any other installment of interest, or of any Debt
Security of such series over any Debt Security of such series, ratably to the
aggregate of such principal and premium, if any, and interest; and

FOURTH: The remainder, if any, shall be paid to the
Partnership its successors or assigns, or to whomsoever may be lawfully
entitled to receive the same, or as a court of competent jurisdiction may
direct.

The Trustee may fix a record date and payment date for
any payment to Holders pursuant to this Section 6.03.  At least 15 days before such record date, the
Partnership shall mail to each Holder and the Trustee a notice that states the
record date, the payment date and amount to be paid.

Section
6.04           Limitation
on Suits by Holders.  No Holder of
any Debt Security of any series shall have any right by virtue or by availing
of any provision of this Indenture to institute any action or proceeding at law
or in equity or in bankruptcy or otherwise, upon or under or with respect to
this Indenture, or for the appointment of a receiver or trustee, or for any
other remedy hereunder, unless such Holder previously shall have given to the
Trustee written notice of an Event of Default with respect to Debt Securities
of that same series and of the continuance 

 34
 

thereof and unless
the Holders of not less than 25% in aggregate principal amount of the
Outstanding Debt Securities of that series shall have made written request upon
the Trustee to institute such action or proceedings in respect of such Event of
Default in its own name as Trustee hereunder and shall have offered to the
Trustee such reasonable indemnity or security as it may require against the
costs, expenses and liabilities to be incurred therein or thereby, and the
Trustee, for 60 days after its receipt of such notice, request and offer of
indemnity or security shall have failed to institute any such action or proceedings
and no direction inconsistent with such written request shall have been given
to the Trustee pursuant to Section 6.06; it being understood and intended, and
being expressly covenanted by the Holder of every Debt Security with every
other Holder and the Trustee, that no one or more Holders shall have any right
in any manner whatever by virtue or by availing of any provision of this
Indenture to affect, disturb or prejudice the rights of any Holders, or to
obtain or seek to obtain priority over or preference to any other such Holder,
or to enforce any right under this Indenture, except in the manner herein
provided and for the equal, ratable and common benefit of all such
Holders.  For the protection and
enforcement of the provisions of this Section 6.04, each and every Holder and
the Trustee shall be entitled to such relief as can be given either at law or
in equity.

Notwithstanding any other provision in this Indenture,
however, the right of any Holder of any Debt Security to receive payment of the
principal of, and premium, if any, and (subject to Section 2.12) interest on,
such Debt Security, on or after the respective due dates expressed in such Debt
Security, and to institute suit for the enforcement of any such payment on or
after such respective dates, shall not be impaired or affected without the
consent of such Holder.

Section
6.05           Remedies
Cumulative; Delay or Omission in Exercise of Rights Not a Waiver of Default.  All powers and remedies given by this Article
VI to the Trustee or to the Holders shall, to the extent permitted by law, be
deemed cumulative and not exclusive of any thereof or of any other powers and
remedies available to the Trustee or the Holders, by judicial proceedings or
otherwise, to enforce the performance or observance of the covenants and
agreements contained in this Indenture, and no delay or omission of the Trustee
or of any Holder to exercise any right or power accruing upon any Default
occurring and continuing as aforesaid, shall impair any such right or power, or
shall be construed to be a waiver of any such Default or an acquiescence
therein; and, subject to the provisions of Section 6.04, every power and remedy
given by this Article VI or by law to the Trustee or to the Holders may be
exercised from time to time, and as often as shall be deemed expedient, by the
Trustee or by the Holders.

Section
6.06           Rights
of Holders of Majority in Principal Amount of Debt Securities to Direct Trustee
and to Waive Default.  The Holders of
a majority in aggregate principal amount of the Debt Securities of any series
at the time Outstanding shall have the right to direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or
exercising any right, trust or power conferred on the Trustee, with respect to
the Debt Securities of such series; provided, however, that such
direction shall not be otherwise than in accordance with law and the provisions
of this Indenture, and that subject to the provisions of Section 7.01, the
Trustee shall have the right to decline to follow any such direction if the
Trustee being advised by counsel shall determine that the action so directed
may not lawfully be taken or is inconsistent with any provision of this
Indenture, or if the Trustee shall by a responsible officer or officers
determine that the action so directed would involve it in personal liability or
would be unduly prejudicial to Holders of Debt Securities of such series not
taking part in such direction; 

 35
 

and
provided, further, however, that nothing contained in this
Indenture shall impair the right of the Trustee to take any action deemed
proper by the Trustee and which is not inconsistent with such direction by such
Holders.  The Holders of a majority in
aggregate principal amount of the Debt Securities of that series at the time
Outstanding may on behalf of the Holders of all the Debt Securities of that
series waive any past Default or Event of Default and its consequences for that
series, except a Default or Event of Default in the payment of the principal of,
and premium, if any, or interest on, any of the Debt Securities and a Default
or Event of Default in respect of a provision that under Section 9.02 cannot be
amended without the consent of each Holder affected thereby. In case of any
such waiver, such Default shall cease to exist, any Event of Default arising
therefrom shall be deemed to have been cured for every purpose of this
Indenture, and the Partnership, the Trustee and the Holders of the Debt
Securities of that series shall be restored to their former positions and
rights hereunder, respectively; but no such waiver shall extend to any
subsequent or other Default or Event of Default or impair any right consequent
thereon.

Section
6.07           Trustee
to Give Notice of Defaults Known to It, but May Withhold Such Notice in Certain
Circumstances.  The Trustee shall,
within 90 days after the occurrence of a Default or Event of Default known to
it, or if later, within 30 days after the Trustee obtains actual knowledge of
the Default or Event of Default, with respect to a series of Debt Securities
give to the Holders thereof, in the manner provided in Section 13.03, notice of
all Defaults with respect to such series known to the Trustee, unless such
Defaults shall have been cured or waived before the giving of such notice; provided,
that, except in the case of Default or an Event of Default in the payment of
the principal of, or premium, if any, or interest on, any of the Debt
Securities of such series or in the making of any sinking fund payment with
respect to the Debt Securities of such series, the Trustee shall be protected
in withholding such notice if and so long as the board of directors, the
executive committee or a committee of directors or responsible officers of the
Trustee in good faith determine(s) that the withholding of such notice is in
the interests of the Holders thereof.

Section
6.08           Requirement
of an Undertaking to Pay Costs in Certain Suits under the Indenture or Against
the Trustee.  All parties to this
Indenture agree, and each Holder of any Debt Security by his acceptance thereof
shall be deemed to have agreed, that any court may in its discretion require,
in any suit for the enforcement of any right or remedy under this Indenture, or
in any suit against the Trustee for any action taken or omitted by it as
Trustee, the filing by any party litigant in such suit of an undertaking to pay
the costs of such suit in the manner and to the extent provided in the TIA, and
that such court may in its discretion assess reasonable costs, including
reasonable attorneys’ fees and expenses, against any party litigant in such
suit, having due regard to the merits and good faith of the claims or defenses
made by such party litigant; but the provisions of this Section 6.08 shall not
apply to any suit instituted by the Trustee, to any suit instituted by any
Holder, or group of Holders, holding in the aggregate not less than 25 percent
in principal amount of the Outstanding Debt Securities of that series or to any
suit instituted by any Holder for the enforcement of the payment of the
principal of, or premium, if any, or interest on, any Debt Security on or after
the due date for such payment expressed in such Debt Security.

 36
 

ARTICLE
VII

CONCERNING THE TRUSTEE

Section
7.01           Certain
Duties and Responsibilities.  The
Trustee, prior to the occurrence of an Event of Default and after the curing or
waiving of all Events of Default which may have occurred, undertakes to perform
such duties and only such duties as are specifically set forth in this
Indenture.  In case an Event of Default
has occurred (which has not been cured or waived), the Trustee shall exercise
such of the rights and powers vested in it by this Indenture, and use the same
degree of care and skill in their exercise, as a prudent Person would exercise
or use under the circumstances in the conduct of its own affairs.

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

(a)           this
paragraph shall not be construed to limit the effect of the first paragraph of
this Section 7.01;

(b)           prior
to the occurrence of an Event of Default with respect to the Debt Securities of
a series and after the curing or waiving of all Events of Default with respect
to such series that may have occurred:

(i)            the
duties and obligations of the Trustee with respect to Debt Securities of any
series shall be determined solely by the express provisions of this Indenture,
and the Trustee shall not be liable except for the performance of such duties
and obligations with respect to such series as are specifically set forth in
this Indenture, and no implied covenants or obligations with respect to such
series shall be read into this Indenture against the Trustee; and

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

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

(d)           the
Trustee shall not be liable with respect to any action taken or omitted to be
taken by it with respect to Debt Securities of any series in good faith in
accordance with the direction of the Holders of a majority in aggregate
principal amount of the Outstanding Debt Securities of that series relating to
the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any right, trust or power conferred
upon the Trustee, under this Indenture with respect to Debt Securities of such
series.

 37
 

Notwithstanding anything else herein contained, none of the provisions
of this Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur any financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if it shall have
reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it.

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

Section
7.02           Certain
Rights of Trustee.

Except as otherwise provided in Section 7.01:

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

(b)           any
request, direction, order or demand of the Partnership mentioned herein shall
be sufficiently evidenced by a Partnership Order (unless other evidence in
respect thereof be herein specifically prescribed); and any resolution of the
Board of Directors may be evidenced to the Trustee by a copy thereof certified
by the Secretary or an Assistant Secretary of the General Partner;

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

(d)           the
Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request, order or direction of any of the
Holders of Debt Securities of any series pursuant to the provisions of this
Indenture, unless such Holders shall have offered to the Trustee reasonable
security or indemnity against the costs, expenses and liabilities which may be
incurred therein or thereby;

(e)           the
Trustee shall not be liable for any action taken or omitted by it in good faith
and reasonably believed by it to be authorized or within the discretion or
rights or powers conferred upon it by this Indenture;

(f)            prior
to the occurrence of an Event of Default and after the curing of all Events of
Default which may have occurred, the Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent,
order, approval or other paper or document, unless requested in writing to do
so by the Holders of a majority in aggregate principal amount of the then
Outstanding Debt Securities of a series affected by such matter; provided,
however, that if the payment within a reasonable time to the Trustee of the
costs, expenses or liabilities likely to be 

 38
 

incurred by it in the making of such investigation is not, in the
opinion of the Trustee, reasonably assured to the Trustee by the security
afforded to it by the terms of this Indenture, the Trustee may require
reasonable indemnity against such costs, expenses or liabilities as a condition
to so proceeding, and the reasonable expense of every such investigation shall
be paid by the Partnership or, if paid by the Trustee, shall be repaid by the
Partnership upon demand;

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

(h)           if
any property other than cash shall at any time be subject to a Lien in favor of
the Holders, the Trustee, if and to the extent authorized by a receivership or
bankruptcy court of competent jurisdiction or by the supplemental instrument
subjecting such property to such Lien, shall be entitled to make advances for
the purpose of preserving such property or of discharging tax Liens or other
prior Liens or encumbrances thereon;

(i)            the
Trustee is not required to take notice or deemed to have notice of any Default
or Event of Default hereunder with respect to a series of Debt Securities
(other than an Event of Default described in subsection (a), (b) or (c) of
Section 6.01 with respect to such Debt Securities during any period the Trustee
is also serving as a paying agent for such Debt Securities), unless a Trust
Officer has received notice in writing of such Event of Default from the
Partnership or from the Holders of at least 25% in aggregate principal amount
of the Outstanding Debt Securities so affected, and in the absence of any such
notice, the Trustee may conclusively assume that no Default or Event of Default
exists;

(j)            the
Trustee is not required to give any bond or surety with respect to the
performance of its duties or the exercise of its powers under this Indenture;

(k)           the
Trustee’s rights, powers, indemnities, immunities and protections from liability
and its rights to indemnification in connection with the performance of its
duties under this Indenture shall extend to (1) the Trustee, whether serving in
any other capacity hereunder, including without limitation, in the capacity of
paying agent, or Registrar, and (2) the Trustee’s officers, directors, agents
and employees.  Such immunities and
protections and rights to indemnification shall survive the Trustee’s
resignation or removal, the discharge of this Indenture and final payment of
the Debt Securities;

(l)            the
Trustee shall have no responsibility for any information in any offering
document or other disclosure material distributed with respect to any series of
Debt Securities, and the Trustee shall have no responsibility for compliance
with any state or federal securities laws in connection with the Debt
Securities, other than the filing of any documents required to be filed by an
indenture trustee pursuant to the TIA; and

(m)          notwithstanding
anything else herein contained, whenever any provision of this Indenture
indicates that any confirmation of a condition or event is qualified by the
words “to the knowledge of” or “known to” the Trustee or other words of similar
meaning, said words shall mean and refer to the current awareness of one or more
Trust Officers who are located at the 

 39
 

principal office of the Trustee or who are otherwise responsible for
administering the trusts created under this Indenture.

Section
7.03           Trustee
Not Liable for Recitals in Indenture or in Debt Securities.  The recitals contained herein, in the Debt
Securities (except the Trustee’s certificate of authentication) shall be taken
as the statements of the Partnership, and the Trustee assumes no responsibility
for the correctness of the same.  The
Trustee makes no representations as to the validity or sufficiency of this
Indenture or of the Debt Securities of any series, except that the Trustee
represents that it is duly authorized to execute and deliver this Indenture,
authenticate the Debt Securities and perform its obligations hereunder and that
statements made by it or to be made by it in a related Statement of Eligibility
and Qualification on Form T-1 supplied in the Partnership are true and
accurate.  The Trustee shall not be accountable
for the use or application by the Partnership of any of the Debt Securities or
of the proceeds thereof.

Section
7.04           Trustee,
Paying Agent or Registrar May Own Debt Securities.  The Trustee or any paying agent or Registrar,
in its individual or any other capacity, may become the owner or pledgee of
Debt Securities and subject to the provisions of the TIA relating to conflicts
of interest and preferential claims may otherwise deal with the Partnership
with the same rights it would have if it were not Trustee, paying agent or
Registrar.

Section
7.05           Moneys
Received by Trustee to Be Held in Trust. 
Subject to the provisions of Section 11.05, all moneys received by the
Trustee shall, until used or applied as herein provided, be held in trust for
the purposes for which they were received, but need not be segregated from
other funds except to the extent required by law.  The Trustee shall be under no liability for
interest on any moneys received by it hereunder.  So long as no Event of Default shall have
occurred and be continuing, all interest allowed on any such moneys shall be
paid from time to time to the Partnership upon a Partnership Order.

Section
7.06           Compensation
and Reimbursement.  The Partnership
covenants and agrees to pay in Dollars to the Trustee from time to time, and
the Trustee shall be entitled to, reasonable compensation for all services
rendered by it hereunder (which shall not be limited by any provision of law in
regard to the compensation of a trustee of an express trust), including,
without limitation, paying agent and Registrar, and, except as otherwise
expressly provided herein, the Partnership will pay or reimburse in Dollars the
Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any of the
provisions of this Indenture (including the reasonable compensation and the
expenses and disbursements of its agents, attorneys and counsel and of all
Persons not regularly in its employ), including without limitation, Section
6.02, except any such expense, disbursement or advances as may arise from its
negligence or bad faith.  The Partnership
also covenants to indemnify and defend the Trustee for, and to hold it harmless
against, any loss, liability or expense incurred without negligence or bad
faith on the part of the Trustee, arising out of or in connection with the
acceptance or administration of this trust or trusts hereunder, including the
reasonable costs and expenses of defending itself against any claim of
liability in connection with the exercise or performance of any of its powers
or duties hereunder.  The obligations of
the Partnership under this Section 7.06 to compensate and indemnify the Trustee
and to pay or reimburse the Trustee for expenses, disbursements and advances
shall constitute additional indebtedness hereunder and shall survive the
satisfaction and discharge of this Indenture. 
The

 40

Partnership and the Holders agree that such additional
indebtedness shall be secured by a Lien prior to that of the Debt Securities
upon all property and funds held or collected by the Trustee, as such, except
funds held in trust for the payment of principal of, and premium, if any, or
interest on, particular Debt Securities.

When the Trustee incurs expenses or renders services
after an Event of Default specified in Section 6.01(e) or (f) occurs, the
expenses and the compensation for the services are intended to constitute
expenses of administration under any Bankruptcy Law or other similar law.

Section
7.07           Right
of Trustee to Rely on an Officers’ Certificate Where No Other Evidence
Specifically Prescribed.  Except as
otherwise provided in Section 7.01, whenever in the administration of the
provisions of this Indenture the Trustee shall deem it necessary or desirable
that a matter be proved or established prior to taking or suffering or omitting
any action hereunder, such matter (unless other evidence in respect thereof be
herein specifically prescribed) may, in the absence of negligence or bad faith
on the part of the Trustee, be deemed to be conclusively proved and established
by an Officers’ Certificate delivered to the Trustee and such certificate, in
the absence of negligence or bad faith on the part of the Trustee, shall be
full warrant to the Trustee for any action taken, suffered or omitted by it
under the provisions of this Indenture upon the faith thereof.

Section
7.08           Separate
Trustee; Replacement of Trustee.  The
Partnership may, but need not, appoint a separate Trustee for any one or more
series of Debt Securities.  The Trustee
may resign with respect to one or more or all series of Debt Securities at any
time by giving notice to the Partnership. 
The Holders of a majority in principal amount of the Debt Securities of
a particular series may remove the Trustee for such series and only such series
by so notifying the Trustee and may appoint a successor Trustee. The
Partnership shall remove the Trustee if:

(a)           the
Trustee fails to comply with Section 7.10;

(b)           the
Trustee is adjudged bankrupt or insolvent;

(c)           a
Custodian takes charge of the Trustee or its property; or

(d)           the
Trustee otherwise becomes incapable of acting.

If the Trustee resigns, is removed by the Partnership
or by the Holders of a majority in principal amount of the Debt Securities of a
particular series and such Holders do not reasonably promptly appoint a
successor Trustee, or if a vacancy exists in the office of Trustee for any reason
(the Trustee in such event being referred to herein as the retiring Trustee),
the Partnership shall promptly appoint a successor Trustee.  No resignation or removal of the Trustee and
no appointment of a successor Trustee shall become effective until the
acceptance of appointment by the successor Trustee in accordance with the
applicable requirements of this Section 7.08.

A successor Trustee shall deliver a written acceptance
of its appointment to the retiring Trustee and to the Partnership.  Thereupon the resignation or removal of the
retiring Trustee shall become effective, and the successor Trustee shall have
all the rights, powers and duties of the Trustee under this Indenture.  The successor Trustee shall mail a notice of
its succession to Holders of Debt Securities of each applicable series. The
retiring Trustee shall promptly transfer

 41
 

all property held by it
as Trustee to the successor Trustee, subject to the Lien provided for in
Section 7.06.

If a successor Trustee does not take office within 60
days after the retiring Trustee gives notice of resignation or is removed, the
retiring Trustee or, subject to Section 6.08, the Holders of 25% or more in
principal amount of the Debt Securities of any applicable series may petition
any court of competent jurisdiction for the appointment of a successor Trustee
for the Debt Securities of such series.

If the Trustee fails to comply with Section 7.10, any
Holder of Debt Securities of any applicable series may petition any court of
competent jurisdiction for the removal of the Trustee and the appointment of a
successor Trustee for the Debt Securities of such series.

Notwithstanding the replacement of the Trustee
pursuant to this Section 7.08, the Partnership’s obligations under Section 7.06
shall continue for the benefit of the retiring Trustee.

In the case of the appointment hereunder of a separate
or successor Trustee with respect to the Debt Securities of one or more series,
the Partnership, any retiring Trustee and each successor or separate Trustee
with respect to the Debt Securities of any applicable series shall execute and
deliver an Indenture supplemental hereto that shall (i) contain such provisions
as shall be deemed necessary or desirable to confirm that all the rights,
powers, trusts and duties of any retiring Trustee with respect to the Debt
Securities of any series as to which any such retiring Trustee is not retiring
shall continue to be vested in such retiring Trustee and (ii) add to or change
any of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one trustee,
it being understood that nothing herein or in such supplemental Indenture shall
constitute such Trustees co-trustees of the same trust and that each such
separate, retiring or successor Trustee shall be Trustee of a trust or trusts
hereunder separate and apart from any trust or trusts hereunder administered by
any other such Trustee.

Section
7.09           Successor
Trustee by Merger.  If the Trustee
consolidates with, merges or converts into, or transfers all or substantially
all its corporate trust business or assets to, another corporation or banking
association, the resulting, surviving or transferee corporation or banking
association without any further act shall be the successor Trustee.

In case at the time such successor or successors to
the Trustee by merger, conversion, consolidation or transfer shall succeed to
the trusts created by this Indenture any of the Debt Securities shall have been
authenticated but not delivered, any such successor to the Trustee may adopt
the certificate of authentication of any predecessor Trustee, and deliver such
Debt Securities so authenticated; and in case at that time any of the Debt
Securities shall not have been authenticated, any successor to the Trustee may
authenticate such Debt Securities either in the name of any predecessor
hereunder or in the name of the successor to the Trustee; and in all such cases
such Trustee certificates shall have the full force provided for in the Debt
Securities or in this Indenture.

Section
7.10           Eligibility;
Disqualification.  The Trustee shall
at all times satisfy the requirements of Section 310(a) of the TIA. The Trustee
shall have a combined capital and

 42
 

surplus of at
least $50,000,000 as set forth in its most recent published annual report of
condition.  No obligor upon the Debt
Securities of a particular series or Person directly or indirectly controlling,
controlled by or under common control with such obligor shall serve as Trustee
for the Debt Securities of such series. 
The Trustee shall comply with Section 310(b) of the TIA; provided,
however, that there shall be excluded from the operation of Section
310(b)(1) of the TIA this Indenture or any indenture or indentures under which
other securities or certificates of interest or participation in other
securities of the Partnership are outstanding if the requirements for such
exclusion set forth in Section 310(b)(1) of the TIA are met.

Section
7.11           Preferential
Collection of Claims Against Partnership. 
The Trustee shall comply with Section 311(a) of the TIA, excluding any
creditor relationship listed in Section 311(b) of the TIA.  A Trustee who has resigned or been removed shall
be subject to Section 311(a) of the TIA to the extent indicated therein.

Section
7.12           Compliance
with Tax Laws.  The Trustee hereby
agrees to comply with all U.S. Federal income tax information reporting and
withholding requirements applicable to it with respect to payments of premium,
if any, and interest on the Debt Securities, whether acting as Trustee,
Security Registrar, paying agent or otherwise with respect to the Debt
Securities.

ARTICLE
VIII

CONCERNING THE HOLDERS

Section
8.01           Evidence
of Action by Holders.  Whenever in
this Indenture it is provided that the Holders of a specified percentage in
aggregate principal amount of the Debt Securities of any or all series may take
action (including the making of any demand or request, the giving of any
direction, notice, consent or waiver or the taking of any other action), the
fact that at the time of taking any such action the Holders of such specified
percentage have joined therein may be evidenced by (a) any instrument or any
number of instruments of similar tenor executed by Holders in Person or by
agent or proxy appointed in writing, (b) the record of the Holders voting in
favor thereof at any meeting of Holders duly called and held in accordance with
the provisions of Section 5.02, (c) a combination of such instrument or
instruments and any such record of such a meeting of Holders or (d) in the case
of Debt Securities evidenced by a Global Security, any electronic transmission
or other message, whether or not in written format, that complies with the
Depositary’s applicable procedures.

Section
8.02           Proof
of Execution of Instruments and of Holding of Debt Securities.  Subject to the provisions of Sections 7.01,
7.02 and 13.09, proof of the execution of any instrument by a Holder or his
agent or proxy shall be sufficient if made in accordance with such reasonable
rules and regulations as may be prescribed by the Trustee or in such manner as
shall be satisfactory to the Trustee. 
The ownership of Debt Securities of any series shall be proved by the
Debt Security Register or by a certificate of the Registrar for such series.  The Trustee may require such additional proof
of any matter referred to in this Section 8.02 as it shall deem necessary.

Section
8.03           Who
May Be Deemed Owner of Debt Securities. 
Prior to due presentment for registration of transfer of any Debt Security,
the Partnership, the Trustee, any paying agent and any Registrar may deem and
treat the Person in whose name any Debt Security

 43
 

shall be
registered upon the books of the Partnership as the absolute owner of such Debt
Security (whether or not such Debt Security shall be registered in the name of
a Depositary or shall be overdue and notwithstanding any notation of ownership
or other writing thereon) for the purpose of receiving payment of or on account
of the principal of and premium, if any, and (subject to Section 2.12) interest
on such Debt Security and for all other purposes, and none of the Partnership,
the Trustee, any paying agent or any Registrar shall be affected by any notice
to the contrary; and all such payments so made to any such Holder for the time
being, or upon his order, shall be valid and, to the extent of the sum or sums
so paid, effectual to satisfy and discharge the liability for moneys payable
upon any such Debt Security.

None of the Partnership, the Trustee or any agent of
the Trustee, any paying agent or the Registrar will have any responsibility or
liability for any aspect of the records relating to or payments made on account
of beneficial ownership interests in a Global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership
interests, or for any action taken or any failure to act by a Depositary with
respect to any Debt Securities, including, without limitation, any failure of
the owner of a beneficial interest in such Debt Securities to receive any
payments or notices provided hereunder or for the selection of beneficial
interests in such Debt Securities to be redeemed.

Section
8.04           Instruments
Executed by Holders Bind Future Holders. 
At any time prior to (but not after) the evidencing to the Trustee, as
provided in Section 8.01, of the taking of any action by the Holders of the
percentage in aggregate principal amount of the Debt Securities of any series
specified in this Indenture in connection with such action and subject to the
following paragraph, any Holder of a Debt Security that is shown by the
evidence to be included in the Debt Securities the Holders of which have
consented to such action may, by filing written notice with the Trustee at its
corporate trust office and upon proof of holding as provided in Section 8.02,
revoke such action so far as concerns such Debt Security.  Except as aforesaid any such action taken by
the Holder of any Debt Security shall be conclusive and binding upon such
Holder and upon all future Holders and owners of such Debt Security and of any
Debt Security issued upon transfer thereof or in exchange or substitution
therefor, irrespective of whether or not any notation in regard thereto is made
upon such Debt Security or such other Debt Securities.  Any action taken by the Holders of the
percentage in aggregate principal amount of the Debt Securities of any series
specified in this Indenture in connection with such action shall be
conclusively binding upon the Partnership, the Trustee and the Holders of all
the Debt Securities of such series.

The Partnership may, but shall not be obligated to,
fix a record date for the purpose of determining the Holders of Debt Securities
entitled to give their consent or take any other action required or permitted to
be taken pursuant to this Indenture.  If
a record date is fixed, then notwithstanding the immediately preceding
paragraph, those Persons who were Holders of Debt Securities at such record
date (or their duly designated proxies), and only those Persons, shall be
entitled to give such consent or to revoke any consent previously given or to
take any such action, whether or not such Persons continue to be Holders of
Debt Securities after such record date. 
No such consent shall be valid or effective for more than 120 days after
such record date unless the consent of the Holders of the percentage in
aggregate principal amount of the Debt Securities of such series specified in
this Indenture shall have been received within such 120-day period.

 44
 

ARTICLE
IX

SUPPLEMENTAL INDENTURES

Section
9.01           Purposes
for Which Supplemental Indenture May Be Entered into Without Consent of Holders.  The Partnership, when authorized by
resolutions of the Board of Directors, and the Trustee may from time to time
and at any time, without the consent of Holders, enter into an Indenture or
Indentures supplemental hereto (which shall conform to the provisions of the
TIA as in force at the date of the execution thereof) for one or more of the
following purposes:

(a)           to
evidence the succession pursuant to Article X of another Person to the
Partnership, or successive successions, and the assumption by the Successor
Partnership (as defined in Section 10.01) of the covenants, agreements and
obligations of the Partnership in this Indenture and in the Debt Securities;

(b)           to
surrender any right or power herein conferred upon the Partnership, to add to
the covenants of the Partnership such further covenants, restrictions,
conditions or provisions for the protection of the Holders of all or any series
of Debt Securities (and if such covenants are to be for the benefit of less
than all series of Debt Securities, stating that such covenants are expressly
being included solely for the benefit of such series) as the Board of Directors
shall consider to be for the protection of the Holders of such Debt Securities,
and to make the occurrence, or the occurrence and continuance, of a Default in
any of such additional covenants, restrictions, conditions or provisions a
Default or an Event of Default permitting the enforcement of all or any of the
several remedies provided in this Indenture; provided, that in respect
of any such additional covenant, restriction, condition or provision such
supplemental Indenture may provide for a particular period of grace after
Default (which period may be shorter or longer than that allowed in the case of
other Defaults) or may provide for an immediate enforcement upon such Default
or may limit the remedies available to the Trustee upon such Default or may
limit the right of the Holders of a majority in aggregate principal amount of
any or all series of Debt Securities to waive such default;

(c)           to
cure any ambiguity, defect or inconsistency contained herein, in any
supplemental Indenture or in any Debt Securities of any series;

(d)           to
permit the qualification of this Indenture or any Indenture supplemental hereto
under the TIA as then in effect, except that nothing herein contained shall
permit or authorize the inclusion in any Indenture supplemental hereto of the
provisions referred to in Section 316(a)(2) of the TIA;

(e)           in
the case of any Debt Securities subordinated pursuant to Article XII, to make
any change in Article XII that would limit or terminate the benefits available
to any holder of Senior Indebtedness (or Representatives therefor) under
Article XII;

(f)            to
add Subsidiary guarantors with respect to any or all of the Debt Securities or
to secure any or all of the Debt Securities or any guarantee by a Subsidiary
guarantor;

(g)           to
make any change that does not adversely affect the rights under the Indenture
of any Holder;

 45
 

(h)           to
add to, change or eliminate any of the provisions of this Indenture in respect
of one or more series of Debt Securities; provided, however, that
any such addition, change or elimination not otherwise permitted under this
Section 9.01 shall neither apply to any Debt Security of any series created
prior to the execution of such supplemental Indenture and entitled to the
benefit of such provision nor modify the rights of the Holder of any such Debt
Security with respect to such provision or shall become effective only when
there is no such Debt Security Outstanding;

(i)            to
evidence and provide for the acceptance of appointment hereunder by a successor
or separate Trustee with respect to the Debt Securities of one or more series
and to add to or change any of the provisions of this Indenture as shall be
necessary to provide for or facilitate the administration of the trusts
hereunder by more than one Trustee; and

(j)            to
establish the form or terms of Debt Securities of any series as permitted by
Sections 2.01 and 2.03.

The Trustee is hereby authorized to join with the
Partnership in the execution of any such supplemental Indenture, to make any
further appropriate agreements and stipulations that may be therein contained
and to accept the conveyance, transfer, assignment, mortgage or pledge of any
property thereunder, but the Trustee shall not be obligated to enter into any
such supplemental Indenture that affects the Trustee’s own rights, powers, protections,
privileges, indemnities, duties or immunities under this Indenture or
otherwise.

Any supplemental Indenture authorized by the
provisions of this Section 9.01 may be executed by the Partnership and the
Trustee without the consent of the Holders of any of the Debt Securities at the
time Outstanding, notwithstanding any of the provisions of Section 9.02.

In the case of Debt Securities subordinated pursuant
to Article XII, an amendment under this Section 9.01 may not make any change
that adversely affects the rights under Article XII of any holder of Senior
Indebtedness then outstanding unless the holders of such Senior Indebtedness
(or any group or Representative thereof authorized to give a consent) consent
to such change.

Section
9.02           Modification
of Indenture with Consent of Holders of Debt Securities.  Without notice to any Holder but with the
consent (evidenced as provided in Section 8.01) of the Holders of not less than
a majority in aggregate principal amount of the Outstanding Debt Securities of
each series affected by such supplemental Indenture (including consents
obtained in connection with a tender offer or exchange offer for any such
series of Debt Securities), the Partnership, when authorized by resolutions of
the Board of Directors, and the Trustee may from time to time and at any time
enter into an Indenture or Indentures supplemental hereto (which shall conform
to the provisions of the TIA as in force at the date of execution thereof) for
the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Indenture or of any supplemental
Indenture or of modifying in any manner the rights of the Holders of the Debt
Securities of such series; provided  that no such supplemental
Indenture, without the consent of the Holders of each Debt Security so
affected, shall:

 46
 

(a)           reduce
the percentage in principal amount of Debt Securities of any series whose
Holders must consent to an amendment;

(b)           reduce
the rate of or extend the time for payment of interest on any Debt Security;

(c)           reduce
the principal of or extend the Stated Maturity of any Debt Security;

(d)           reduce
the premium payable upon the redemption of any Debt Security or change the time
at which any Debt Security may or shall be redeemed in accordance with Article
III;

(e)           make
any Debt Security payable in currency other than the Dollar;

(f)            impair
the right of any Holder to receive payment of premium, if any, principal of and
interest on such Holder’s Debt Securities on or after the due dates therefor or
to institute suit for the enforcement of any payment on or with respect to such
Holder’s Debt Securities;

(g)           in
the case of any Debt Security subordinated pursuant to Article XII, make any
change in Article XII that adversely affects the rights of any Holder under
Article XII;

(h)           make
any change in Section 6.06 or this Section 9.02;

(i)            release
any security that may have been granted in respect of the Debt Securities,
other than in accordance with this Indenture;or

(j)            or
make any change that requires each Holder’s consent, release any Subsidiary
guarantor other than in accordance with the Indenture or modify any such Subsidiary
guarantor’s guarantee in any manner adverse to the Holders.

A supplemental Indenture that changes or eliminates
any covenant or other provision of this Indenture that has been expressly
included solely for the benefit of one or more particular series of Debt
Securities or that modifies the rights of the Holders of Debt Securities of
such series with respect to such covenant or other provision shall be deemed
not to affect the rights under this Indenture of the Holders of Debt Securities
of any other series.

Upon the request of the Partnership, accompanied by a
copy of resolutions of the Board of Directors authorizing the execution of any
such supplemental Indenture, and upon the filing with the Trustee of evidence
of the consent of Holders as aforesaid, the Trustee shall join with the
Partnership in the execution of such supplemental Indenture unless such
supplemental Indenture affects the Trustee’s own rights, duties or immunities
under this Indenture or otherwise, in which case the Trustee may in its
discretion but shall not be obligated to enter into such supplemental
Indenture.

It shall not be necessary for the consent of the
Holders under this Section 9.02 to approve the particular form of any proposed
supplemental Indenture, but it shall be sufficient if such consent shall
approve the substance thereof.

In the case of any Debt Securities subordinated
pursuant to Article XII, an amendment under this Section 9.02 may not make any
change that adversely affects the rights under

 47
 

Article XII of any
holder of Senior Indebtedness then outstanding unless the holders of such
Senior Indebtedness (or any group or Representative thereof authorized to give
a consent) consent to such change.

After an amendment under this Section 9.02 becomes
effective, the Partnership shall mail to Holders of Debt Securities of each
series affected thereby a notice briefly describing such amendment.  The failure to give such notice to all such
Holders, or any defect therein, shall not impair or affect the validity of an
amendment under this Section 9.02.

Section
9.03           Effect
of Supplemental Indentures.  Upon the
execution of any supplemental Indenture pursuant to the provisions of this
Article IX, this Indenture shall be and be deemed to be modified and amended in
accordance therewith and the respective rights, limitations of rights,
obligations, duties and immunities under this Indenture of the Trustee, the
Partnership and the Holders shall thereafter be determined, exercised and
enforced hereunder subject in all respects to such modifications and
amendments, and all the terms and conditions of any such supplemental Indenture
shall be and be deemed to be part of the terms and conditions of this Indenture
for any and all purposes.

The Trustee, subject to the provisions of Sections
7.01 and 7.02, may receive an Officers’ Certificate and an Opinion of Counsel
as conclusive evidence that any such supplemental Indenture complies with the
provisions of this Article IX.

Section
9.04           Debt
Securities May Bear Notation of Changes by Supplemental Indentures.  Debt Securities of any series authenticated
and delivered after the execution of any supplemental Indenture pursuant to the
provisions of this Article IX may, and shall if required by the Trustee, bear a
notation in form approved by the Trustee as to any matter provided for in such
supplemental Indenture.  New Debt
Securities of any series so modified as to conform, in the opinion of the
Trustee and the Board of Directors, to any modification of this Indenture
contained in any such supplemental Indenture may be prepared and executed by
the Partnership, authenticated by the Trustee and delivered in exchange for the
Debt Securities of such series then Outstanding.  Failure to make the appropriate notation or
to issue a new Debt Security of such series shall not affect the validity of
such amendment.

ARTICLE X

CONSOLIDATION, MERGER, SALE OR CONVEYANCE

Section
10.01         Consolidations
and Mergers of the Partnership.  The
Partnership shall not consolidate or amalgamate with or merge with or into any
Person, or sell, convey, transfer, lease or otherwise dispose of all or
substantially all its assets to any Person, whether in a single transaction or
a series of related transactions, (1) except in accordance with the provisions
of its partnership agreement, and (2) unless: (a) either (i) the Partnership
shall be the surviving or continuing Person in the case of a merger or (ii) the
resulting, surviving or transferee Person if other than the Partnership (the “Successor
Partnership”) shall be a partnership, limited liability company or
corporation organized and existing under the laws of the United States, any
state thereof or the District of Columbia and the Successor Partnership shall
expressly assume, by an Indenture supplemental hereto, executed and delivered
to the Trustee, in form satisfactory to the Trustee, all the obligations of the
Partnership under this Indenture and the Debt Securities

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according to their
tenor; (b) immediately after giving effect to such transaction or series of
transactions (and treating any Debt that becomes an obligation of the Successor
Partnership or any Subsidiary of the Partnership as a result of such
transaction or series of transactions as having been incurred by the Successor
Partnership or such Subsidiary at the time of such transaction), no Default or
Event of Default would occur or be continuing; and (c) the Partnership shall
have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that such consolidation, amalgamation, merger or
disposition and such supplemental Indenture (if any) comply with this Section
10.01 and any other applicable provisions of this Indenture.

Section
10.02         Rights
and Duties of Successor Partnership. 
In case of any consolidation, amalgamation or merger where the
Partnership is not the surviving or continuing Person, or disposition of all or
substantially all of the assets of the Partnership in accordance with Section
10.01, the Successor Partnership shall succeed to and be substituted for the
Partnership with the same effect as if it had been named herein as the
respective party to this Indenture, and the predecessor entity shall be released
from all liabilities and obligations under this Indenture and the Debt
Securities, except that no such release will occur in the case of a lease of
all or substantially all of the Partnership’s assets.  The Successor Partnership thereupon may cause
to be signed, and may issue either in its own name or in the name of the
Partnership, any or all the Debt Securities issuable hereunder that theretofore
shall not have been signed by the Partnership and delivered to the Trustee;
and, upon the order of the Successor Partnership, instead of the Partnership,
and subject to all the terms, conditions and limitations in this Indenture
prescribed, the Trustee shall authenticate and shall deliver any Debt
Securities that previously shall have been signed and delivered by the officers
of the General Partner on behalf of the Partnership to the Trustee for
authentication, and any Debt Securities that the Successor Partnership
thereafter shall cause to be signed and delivered to the Trustee for that
purpose.  All the Debt Securities so
issued shall in all respects have the same legal rank and benefit under this
Indenture as the Debt Securities theretofore or thereafter issued in accordance
with the terms of this Indenture as though all such Debt Securities had been
issued at the date of the execution hereof.

In case of any such consolidation, amalgamation,
merger, sale, conveyance, transfer, lease or other disposition such changes in
phraseology and form (but not in substance) may be made in the Debt Securities
thereafter to be issued as may be appropriate.

ARTICLE
XI

SATISFACTION AND DISCHARGE OF INDENTURE;

DEFEASANCE; UNCLAIMED MONEYS

Section
11.01         Applicability
of Article.  The provisions of this
Article XI relating to discharge or defeasance of Debt Securities shall be applicable
to each series of Debt Securities except as otherwise specified pursuant to
Section 2.03 for Debt Securities of such series.

Section
11.02         Satisfaction
and Discharge of Indenture; Defeasance.

(a)           If
at any time the Partnership shall have delivered to the Trustee for
cancellation all Debt Securities of any series theretofore authenticated and
delivered (other than any Debt Securities of such series that shall have been
destroyed, lost or stolen and that shall have been

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replaced or paid as provided in Section 2.09 and Debt Securities for
whose payment money has theretofore been deposited in trust and thereafter
repaid to the Partnership as provided in Section 11.05) or all Debt Securities
of such series not theretofore delivered to the Trustee for cancellation shall
have become due and payable, or are by their terms to become due and payable
within one year or are to be called for redemption within one year under
arrangements satisfactory to the Trustee for the giving of notice of
redemption, and the Partnership shall deposit with the Trustee as trust funds
the entire amount in cash sufficient to pay at maturity or upon redemption all
Debt Securities of such series not theretofore delivered to the Trustee for
cancellation, including principal and premium, if any, and interest due or to
become due on such Stated Maturity date or Redemption Date, as the case may be,
and if in either case the Partnership shall also pay or cause to be paid all
other sums payable hereunder by the Partnership, then this Indenture shall
cease to be of further effect (except as to any surviving rights of
registration of transfer or exchange of such Debt Securities herein expressly
provided for) with respect to the Debt Securities of such series, and the
Trustee, on demand of the Partnership accompanied by an Officers’ Certificate
and an Opinion of Counsel and at the cost and expense of the Partnership, shall
execute proper instruments acknowledging satisfaction of and discharging this
Indenture with respect to the Debt Securities of such series.

(b)           Subject
to Sections 11.02(c), 11.03 and 11.07, the Partnership at any time may
terminate, with respect to Debt Securities of a particular series, all its
obligations under the Debt Securities of such series and this Indenture with
respect to the Debt Securities of such series (“legal defeasance option”)
or the operation of (x) any covenant made applicable to such Debt Securities
pursuant to Section 2.03, and (y) Sections 4.09. 4.10, 6.01(d) and 6.01(g) (“covenant
defeasance option”).  If the
Partnership exercises either its legal defeasance option or its covenant
defeasance option with respect to Debt Securities of a particular series that
are entitled to the benefit of a guarantee, such guarantee will terminate with
respect to that series of Debt Securities and be automatically released and
discharged and any security that may have been granted in respect of such
series shall be automatically released. 
The Partnership may exercise its legal defeasance option notwithstanding
its prior exercise of its covenant defeasance option.

If the Partnership exercises its legal defeasance
option, payment of the Debt Securities of the defeased series may not be
accelerated because of an Event of Default. 
If the Partnership exercises its covenant defeasance option, payment of
the Debt Securities of the defeased series may not be accelerated because of an
Event of Default specified in Sections 6.01(d) and (g) (except to the extent
covenants or agreements referenced in such Sections remain, by their express
terms, applicable subsequent to the occurrence of the effect of a covenant
defeasance option).

Upon satisfaction of the conditions set forth herein
and upon request of the Partnership, the Trustee shall acknowledge in writing
the discharge of those obligations that the Partnership terminates.

(c)           Notwithstanding
clauses (a) and (b) above, the Partnership’s obligations in Sections 2.07,
2.09, 4.02, 4.04, 5.01, 7.06, the third sentence of 7.10, 11.05, 11.06 and
11.07 shall survive until the Debt Securities of the defeased series have been
paid in full.  Thereafter, the
Partnership’s obligations in Sections 7.06, 11.05 and 11.06 shall survive.

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Section
11.03         Conditions
of Defeasance.  The Partnership may
exercise its legal defeasance option or its covenant defeasance option with
respect to Debt Securities of a particular series only if:

(a)           the
Partnership irrevocably deposits in trust with the Trustee money or U.S.
Government Obligations for the payment of principal of, and premium, if any,
and interest on, the Debt Securities of such series to Stated Maturity or the
Redemption Date, as the case may be;

(b)           the
Partnership delivers to the Trustee a certificate from a nationally recognized
firm of independent accountants expressing their opinion that the payments of
principal and interest when due and without reinvestment on the deposited U.S.
Government Obligations plus any deposited money without investment will provide
cash at such times and in such amounts as will be sufficient to pay the
principal, premium, if any, and interest when due on all the Debt Securities of
such series to Stated Maturity or the Redemption Date, as the case may be;

(c)           91
days pass after the deposit is made and during the 91-day period no Default
specified in Section 6.01(e) or (f) with respect to the Partnership occurs that
is continuing at the end of the period;

(d)           no
Default has occurred and is continuing on the date of such deposit and after
giving effect thereto;

(e)           the
deposit does not constitute a default under any other agreement binding on the
Partnership and, if the Debt Securities of such series are subordinated
pursuant to Article XII, is not prohibited by Article XII;

(f)            the
Partnership delivers to the Trustee an Opinion of Counsel to the effect that
the trust resulting from the deposit does not constitute, or is qualified as, a
regulated investment company under the Investment Company Act of 1940;

(g)           in
the event of the legal defeasance option, the Partnership shall have delivered
to the Trustee an Opinion of Counsel stating that the Partnership has received
from the Internal Revenue Service a ruling, or since the date of this Indenture
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
confirm that, the Holders of Debt Securities of such series will not recognize
income, gain or loss for Federal income tax purposes as a result of such
defeasance and will be subject to Federal income tax on the same amounts, in
the same manner and at the same times as would have been the case if such
defeasance had not occurred;

(h)           in
the event of the covenant defeasance option, the Partnership shall have
delivered to the Trustee an Opinion of Counsel to the effect that the Holders
of Debt Securities of such series will not recognize income, gain or loss for
Federal income tax purposes as a result of such covenant defeasance and will be
subject to Federal income tax on the same amounts, in the same manner and at
the same times as would have been the case if such covenant defeasance had not
occurred; and

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(i)            the
Partnership delivers to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent to the defeasance and
discharge of the Debt Securities of such series as contemplated by this Article
XI have been complied with.

Before or after a deposit, the Partnership may make
arrangements satisfactory to the Trustee for the redemption of Debt Securities
of such series at a future date in accordance with Article III.

Section
11.04         Application
of Trust Money.  The Trustee shall
hold in trust money or U.S. Government Obligations deposited with it pursuant
to this Article XI.  It shall apply the
deposited money and the money from U.S. Government Obligations through any
paying agent and in accordance with this Indenture to the payment of principal
of, and premium, if any, and interest on, the Debt Securities of the defeased
series.  In the event the Debt Securities
of the defeased series are subordinated pursuant to Article XII, money and
securities so held in trust are not subject to Article XII.

Section
11.05         Repayment
to Partnership.  The Trustee and any
paying agent shall promptly turn over to the Partnership upon request any
excess money or securities held by them at any time.

Subject to any applicable abandoned property law, the
Trustee and any paying agent shall pay to the Partnership upon request any
money held by them for the payment of principal, premium or interest that
remains unclaimed for two years, and, thereafter, Holders entitled to such
money must look to the Partnership for payment as general creditors.

Section
11.06         Indemnity
for U.S. Government Obligations.  The
Partnership shall pay and shall indemnify the Trustee and the Holders against
any tax, fee or other charge imposed on or assessed against deposited U.S.
Government Obligations or the principal and interest received on such U.S.
Government Obligations.

Section
11.07         Reinstatement.  If the Trustee or any paying agent is unable
to apply any money or U.S. Government Obligations in accordance with this
Article XI by reason of any legal proceeding or by reason of any order or
judgment of any court or government authority enjoining, restraining or
otherwise prohibiting such application, the Partnership’s obligations under
this Indenture and the Debt Securities of the defeased series shall be revived
and reinstated as though no deposit had occurred pursuant to this Article XI
until such time as the Trustee or any paying agent is permitted to apply all
such money or U.S. Government Obligations in accordance with this Article XI.

ARTICLE
XII

SUBORDINATION OF DEBT SECURITIES

Section
12.01         Applicability
of Article; Agreement To Subordinate. 
The provisions of this Article XII shall only be applicable to the Debt
Securities of any series (Debt Securities of such series referred to in this
Article XII as “Subordinated Debt Securities”) designated, pursuant to Section
2.03, as subordinated to Senior Indebtedness. 
Each Holder by accepting a Subordinated Debt Security agrees that the
Debt evidenced by such Subordinated Debt Security is subordinated in right of
payment, to the extent and in the manner provided in this Article XII,

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to the prior
payment of all Senior Indebtedness and that the subordination is for the
benefit of and enforceable by the holders of Senior Indebtedness.  All provisions of this Article XII shall be
subject to Section 12.12.

Section
12.02         Liquidation,
Dissolution, Bankruptcy.  Upon any
payment or distribution of the assets of the Partnership to creditors upon a
total or partial liquidation or a total or partial dissolution of the
Partnership or in a bankruptcy, reorganization, insolvency, receivership or
similar proceeding relating to the Partnership or its property:

(a)           holders of Senior Indebtedness of the
Partnership shall be entitled to receive payment in full in cash of such Senior
Indebtedness (including interest (if any), accruing on or after the
commencement of such a proceeding, whether or not allowed as a claim against the
Partnership in such proceeding) before Holders of Subordinated Debt Securities
shall be entitled to receive any payment of principal of, or premium, if any,
or interest on, the Subordinated Debt Securities from the Partnership; and

(b)           until the Senior Indebtedness of the
Partnership is paid in full, any distribution to which Holders of Subordinated
Debt Securities would be entitled but for this Article XII shall be made to
holders of Senior Indebtedness of the Partnership as their interests may appear,
except that such Holders may receive Capital Stock and any debt securities that
are subordinated to Senior Indebtedness of the Partnership to at least the same
extent as the Subordinated Debt Securities of the Partnership.

Section
12.03         Default
on Senior Indebtedness.  The
Partnership may not pay the principal of, or premium, if any, or interest on,
the Subordinated Debt Securities or make any deposit pursuant to Article XI and
may not repurchase, redeem or otherwise retire (except, in the case of
Subordinated Debt Securities that provide for a mandatory sinking fund pursuant
to Section 3.05, by the delivery of Subordinated Debt Securities by the
Partnership to the Trustee pursuant to the first paragraph of Section 3.05) any
Subordinated Debt Securities (collectively, “pay the Subordinated Debt
Securities”) if any principal, premium or interest in respect of Senior
Indebtedness of the Partnership is not paid within any applicable grace period
(including at maturity) or any other default on Senior Indebtedness of the
Partnership occurs and the maturity of such Senior Indebtedness is accelerated
in accordance with its terms unless, in either case, the default has been cured
or waived and any such acceleration has been rescinded or such Senior
Indebtedness has been paid in full in cash; provided, however,
that the Partnership may make payments on the Subordinated Debt Securities
without regard to the foregoing if the Partnership and the Trustee receive
written notice approving such payment from the Representative of each issue of
Designated Senior Indebtedness.  During
the continuance of any default with respect to any Designated Senior
Indebtedness pursuant to which the maturity thereof may be accelerated
immediately without further notice (except such notice as may be required to
effect such acceleration) or the expiration of any applicable grace periods,
the Partnership may not make payments on the Subordinated Debt Securities for a
period (a “Payment Blockage Period”) commencing upon the receipt by the
Partnership and the Trustee of written notice of such default from the
Representative of any Designated Senior Indebtedness specifying an election to
effect a Payment Blockage Period (a “Blockage Notice”) and ending 179
days thereafter (or earlier if such Payment Blockage Period is terminated by
written notice to the Trustee and the Partnership from the Person or Persons
who gave such Blockage Notice, by repayment in full in cash of such

 53
 

Designated Senior
Indebtedness or because the default giving rise to such Blockage Notice is no
longer continuing).  Notwithstanding the
provisions described in the immediately preceding sentence (but subject to the
provisions contained in the first sentence of this Section 12.03), unless the holders
of such Designated Senior Indebtedness or the Representative of such holders
shall have accelerated the maturity of such Designated Senior Indebtedness, the
Partnership may resume payments on the Subordinated Debt Securities after such
Payment Blockage Period.  Not more than
one Blockage Notice may be given in any consecutive 360-day period,
irrespective of the number of defaults with respect to any number of issues of
Designated Senior Indebtedness during such period, unless otherwise specified
pursuant to Section 2.03 for the Subordinated Debt Securities of a series; provided,
however, that in no event may the total number of days during which any
Payment Blockage Period or Periods is in effect exceed 179 days in the
aggregate during any 360 consecutive day period.  For purposes of this Section 12.03, no
default or event of default that existed or was continuing on the date of the
commencement of any Payment Blockage Period with respect to the Designated
Senior Indebtedness initiating such Payment Blockage Period shall be, or be
made, the basis of the commencement of a subsequent Payment Blockage Period by
the Representative of such Designated Senior Indebtedness, whether or not
within a period of 360 consecutive days, unless such default or event of
default shall have been cured or waived for a period of not less than 90
consecutive days.

Section
12.04         Acceleration
of Payment of Debt Securities.  If
payment of the Subordinated Debt Securities is accelerated because of an Event
of Default, the Partnership shall promptly notify the holders of the Designated
Senior Indebtedness (or their Representatives) of the acceleration.

Section
12.05         When
Distribution Must Be Paid Over.  If a
distribution is made to Holders of Subordinated Debt Securities that because of
this Article XII should not have been made to them, the Holders who receive
such distribution shall hold it in trust for holders of Senior Indebtedness and
pay it over to them as their interests may appear.

Section
12.06         Subrogation.  After all Senior Indebtedness is paid in full
and until the Subordinated Debt Securities are paid in full, Holders thereof
shall be subrogated to the rights of holders of Senior Indebtedness to receive
distributions applicable to Senior Indebtedness.  A distribution made under this Article XII to
holders of Senior Indebtedness that otherwise would have been made to Holders
of Subordinated Debt Securities is not, as between the Partnership and such
Holders, a payment by the Partnership on Senior Indebtedness.

Section
12.07         Relative
Rights.  This Article XII defines the
relative rights of Holders of Subordinated Debt Securities and holders of
Senior Indebtedness.  Nothing in this
Indenture shall:

(a)           impair,
as between the Partnership and Holders of either Subordinated Debt Securities
or Debt Securities, the obligation of the Partnership, which is absolute and
unconditional, to pay principal of, and premium, if any, and interest on, the
Subordinated Debt Securities and the Debt Securities in accordance with their
terms; or

(b)           prevent
the Trustee or any Holder of either Subordinated Debt Securities or Debt
Securities from exercising its respective available remedies upon a Default,
subject to the rights

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of holders of Senior Indebtedness to receive distributions otherwise
payable to Holders of Subordinated Debt Securities.

Section
12.08         Subordination
May Not Be Impaired by Partnership. 
No right of any holder of Senior Indebtedness to enforce the
subordination of the Debt evidenced by the Subordinated Debt Securities shall
be impaired by any act or failure to act by the Partnership or by its failure
to comply with this Indenture.

Section
12.09         Rights
of Trustee and Paying Agent. 
Notwithstanding Section 12.03, the Trustee or any paying agent may
continue to make payments on Subordinated Debt Securities and shall not be
charged with knowledge of the existence of facts that would prohibit the making
of any such payments unless, not less than two Business Days prior to the date
of such payment, a Trust Officer receives notice satisfactory to it that
payments may not be made under this Article XII.  The Partnership, the Registrar, any paying
agent, a Representative or a holder of Senior Indebtedness may give the notice;
provided, however, that, if an issue of Senior Indebtedness has a
Representative, only the Representative may give the notice on behalf of the
Holders of the Senior Indebtedness of that issue.

The Trustee in its individual or any other capacity
may hold Senior Indebtedness with the same rights it would have if it were not
Trustee.  The Registrar and any paying
agent may do the same with like rights. 
The Trustee shall be entitled to all the rights set forth in this
Article XII with respect to any Senior Indebtedness that may at any time be
held by it, to the same extent as any other holder of Senior Indebtedness; and
nothing in Article VII shall deprive the Trustee of any of its rights as such
holder.  Nothing in this Article XII
shall apply to claims of, or payments to, the Trustee under or pursuant to
Section 7.06.

Section
12.10         Distribution
or Notice to Representative. 
Whenever a distribution is to be made or a notice given to holders of
Senior Indebtedness, the distribution may be made and the notice given to their
Representative (if any).

Section
12.11         Article
XII Not to Prevent Defaults or Limit Right to Accelerate.  The failure to make a payment pursuant to the
Subordinated Debt Securities by reason of any provision in this Article XII
shall not be construed as preventing the occurrence of a Default.  Nothing in this Article XII shall have any
effect on the right of the Holders or the Trustee to accelerate the maturity of
either the Subordinated Debt Securities or the Debt Securities, as the case may
be.

Section
12.12         Trust
Moneys Not Subordinated. 
Notwithstanding anything contained herein to the contrary, payments from
money or the proceeds of U.S. Government Obligations held in trust under
Article XI by the Trustee for the payment of principal of, and premium, if any,
and interest on, the Subordinated Debt Securities or the Debt Securities shall
not be subordinated to the prior payment of any Senior Indebtedness or subject
to the restrictions set forth in this Article XII, and none of the Holders
thereof shall be obligated to pay over any such amount to the Partnership or
any holder of Senior Indebtedness of the Partnership or any other creditor of
the Partnership.

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Section
12.13         Trustee
Entitled to Rely.  Upon any payment
or distribution pursuant to this Article XII, the Trustee and the Holders shall
be entitled to rely upon any order or decree of a court of competent
jurisdiction in which any proceedings of the nature referred to in Section
12.02 are pending, upon a certificate of the liquidating trustee or agent or
other Person making such payment or distribution to the Trustee or to such
Holders or upon the Representatives for the holders of Senior Indebtedness for
the purpose of ascertaining the Persons entitled to participate in such payment
or distribution, the holders of the Senior Indebtedness and other Debt of the
Partnership, the amount thereof or payable thereon, the amount or amounts paid
or distributed thereon and all other facts pertinent thereto or to this Article
XII.  In the event that the Trustee
determines, in good faith, that evidence is required with respect to the right
of any Person as a holder of Senior Indebtedness to participate in any payment
or distribution pursuant to this Article XII, the Trustee may request such
Person to furnish evidence to the reasonable satisfaction of the Trustee as to
the amount of Senior Indebtedness held by such Person, the extent to which such
Person is entitled to participate in such payment or distribution and other
facts pertinent to the rights of such Person under this Article XII, and, if
such evidence is not furnished, the Trustee may defer any payment to such
Person pending judicial determination as to the right of such Person to receive
such payment.  The provisions of Sections
7.01, 7.02 and 7.07 shall be applicable to all actions or omissions of actions
by the Trustee pursuant to this Article XII.

Section
12.14         Trustee
to Effectuate Subordination.  Each
Holder by accepting a Subordinated Debt Security authorizes and directs the
Trustee on his behalf to take such action as may be necessary or appropriate to
acknowledge or effectuate the subordination between the Holders of Subordinated
Debt Securities and the holders of Senior Indebtedness as provided in this
Article XII and appoints the Trustee as attorney-in-fact for any and all
such purposes.

Section
12.15         Trustee
Not Fiduciary for Holders of Senior Indebtedness.  The Trustee shall not be deemed to owe any
fiduciary duty to the holders of Senior Indebtedness and shall not be liable to
any such holders if it shall mistakenly pay over or distribute to Holders of
Subordinated Debt Securities or the Partnership or any other Person, money or
assets to which any holders of Senior Indebtedness shall be entitled by virtue
of this Article XII or otherwise.

Section
12.16         Reliance
by Holders of Senior Indebtedness on Subordination Provisions.  Each Holder by accepting a Subordinated Debt
Security acknowledges and agrees that the foregoing subordination provisions
are, and are intended to be, an inducement and a consideration to each holder
of any Senior Indebtedness, whether such Senior Indebtedness was created or
acquired before or after the issuance of the Subordinated Debt Securities, to
acquire and continue to hold, or to continue to hold, such Senior Indebtedness
and such holder of Senior Indebtedness shall be deemed conclusively to have
relied on such subordination provisions in acquiring and continuing to hold, or
in continuing to hold, such Senior Indebtedness.

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ARTICLE
XIII

MISCELLANEOUS PROVISIONS

Section
13.01         Successors
and Assigns of Partnership Bound by Indenture.  All the covenants, stipulations, promises and
agreements in this Indenture contained by or in behalf of the Partnership or
the Trustee shall bind their respective successors and assigns, whether so
expressed or not.

Section
13.02         Acts of
Board, Committee or Officer of Successor Partnership Valid.  Any act or proceeding by any provision of
this Indenture authorized or required to be done or performed by any board,
committee or officer of the General Partner on behalf of the Partnership shall
and may be done and performed with like force and effect by the like board,
committee or officer of any Successor Partnership.

Section
13.03         Required
Notices or Demands.  Any notice or
communication by the Partnership or the Trustee to the others is duly given if
in writing and delivered in Person or mailed by registered or certified mail
(return receipt requested), telecopier or overnight air courier guaranteeing
next day delivery, to the other’s address:

If to the Partnership:

Enbridge Energy
Partners, L.P.

1100 Louisiana,
Suite 3300

Houston, Texas  77002-5217

Attention:  Corporate Secretary

Telecopy: 
713-821-2229

If to the Trustee:

U.S. Bank National
Association

1349 West Peachtree Street, NW

Two Midtown Plaza, Suite 1050

Atlanta, Georgia 30309

Attention: Corporate Trust Department

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

All notices and communications shall be deemed to have
been duly given: at the time delivered by hand, if personally delivered; five
Business Days after being deposited in the mail, postage prepaid, if mailed; on
the first Business Day on or after being sent, if telecopied and the sender
receives confirmation of successful transmission; and the next Business Day
after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery.

Any notice required or permitted to a Holder by the
Partnership or the Trustee pursuant to the provisions of this Indenture shall
be deemed to be properly mailed by being deposited postage prepaid in a post
office letter box in the United States addressed to such Holder at the address
of such Holder as shown on the Debt Security Register.  Any report pursuant to Section 313 of the TIA
shall be transmitted in compliance with subsection (c) therein.

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Notwithstanding the foregoing, any notice to Holders
of Floating Rate Securities regarding the determination of a periodic rate of
interest, if such notice is required pursuant to Section 2.03, shall be
sufficiently given if given in the manner specified pursuant to
Section 2.03.

In the event of suspension of regular mail service or
by reason of any other cause it shall be impracticable to give notice by mail,
then such notification as shall be given with the approval of the Trustee shall
constitute sufficient notice for every purpose hereunder.

In the event it shall be impracticable to give notice
by publication, then such notification as shall be given with the approval of
the Trustee shall constitute sufficient notice for every purpose hereunder.

Failure to mail a notice or communication to a Holder
or any defect in it or any defect in any notice by publication as to a Holder
shall not affect the sufficiency of such notice with respect to other Holders.  If a notice or communication is mailed or
published in the manner provided above, it is conclusively presumed duly given.

Section
13.04         Indenture
and Debt Securities to Be Construed in Accordance with the Laws of the State of
New York.  THIS INDENTURE AND EACH
DEBT SECURITY SHALL BE DEEMED TO BE NEW YORK CONTRACTS, AND FOR ALL PURPOSES
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF SAID STATE.

Section
13.05         Officers’
Certificate and Opinion of Counsel to Be Furnished upon Application or Demand
by the Partnership.  Upon any
application or demand by the Partnership to the Trustee to take any action
under any of the provisions of this Indenture, the Partnership shall furnish to
the Trustee an Officers’ Certificate stating that all conditions precedent
provided for in this Indenture relating to the proposed action have been
complied with and an Opinion of Counsel stating that, in the opinion of such
counsel, all such conditions precedent have been complied with, except that in
the case of any such application or demand as to which the furnishing of such
document is specifically required by any provision of this Indenture relating
to such particular application or demand, no additional certificate or opinion
need be furnished.

Each certificate or opinion provided for in this
Indenture and delivered to the Trustee with respect to compliance with a
condition or covenant provided for in this Indenture shall include (a) a
statement that the Person making such certificate or opinion has read such
covenant or condition, (b) 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, (c) 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 (d) a statement as to whether or not, in
the opinion of such Person, such condition or covenant has been complied with.

Section
13.06         Payments
Due on Legal Holidays.  In any case
where the date of maturity of interest on or principal of and premium, if any,
on the Debt Securities of a series or the Redemption Date or repayment of any
Debt Security or the making of any sinking fund payment

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shall not be a
Business Day at any Place of Payment for the Debt Securities of such series,
then payment of interest or principal and premium, if any, or the making of
such sinking fund payment need not be made on such date at such Place of
Payment, but may be made on the next succeeding Business Day at such Place of
Payment with the same force and effect as if made on the date of maturity or
the Redemption Date, and no interest shall accrue for the period after such
date. If a record date is not a Business Day, the record date shall not be
affected.

Section
13.07         Provisions
Required by TIA to Control.  If and
to the extent that any provision of this Indenture limits, qualifies or
conflicts with another provision included in this Indenture that is required to
be included in this Indenture by any of Sections 310 to 318, inclusive, of the
TIA, such required provision shall control.

Section
13.08         Computation
of Interest on Debt Securities. 
Interest, if any, on the Debt Securities shall be computed on the basis
of a 360-day year of twelve 30-day months, except as may otherwise be provided
pursuant to Section 2.03.

Section
13.09         Rules by
Trustee, Paying Agent and Registrar. 
The Trustee may make reasonable rules for action by or a meeting of
Holders. The Registrar and any paying agent may make reasonable rules for their
functions.

Section
13.10         No
Recourse Against Others.  The General
Partner and its directors, officers, employees, incorporators, members and
stockholders, as such, shall have no liability for any obligations of the
Partnership under the Debt Securities or the Indenture or for any claim based
on, in respect of, or by reason of, such obligations or their creation.  Notwithstanding the foregoing, nothing in
this Section 13.10 shall be construed to modify or supersede any obligation of
the General Partner to restore any negative balance in its capital account
(maintained under the Partnership’s partnership agreement) upon liquidation of
its interest in the Partnership.  By
accepting a Debt Security, each Holder shall waive and release all liability
described in the first sentence of this Section 13.10.  The waiver and release shall be part of the
consideration for the issue of the Debt Securities.

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

Section
13.12         Effect
of Headings.  The article and section
headings herein and in the Table of Contents are for convenience only and shall
not affect the construction hereof.

Section
13.13         Indenture
May Be Executed in Counterparts. 
This Indenture may be executed in any number of counterparts, each of
which shall be an original; but such counterparts shall together constitute but
one and the same instrument.

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

	
  

  	
  ENBRIDGE ENERGY PARTNERS, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  ENBRIDGE ENERGY MANAGEMENT,

  L.L.C., as delegate of Enbridge Energy

  Company, Inc., its General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  U.S. BANK NATIONAL ASSOCIATION,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
								

 

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