Document:

Exhibit 4.2

 

EXECUTION
VERSION

 

 

 

 

B&G FOODS, INC.

 

AND
EACH OF THE GUARANTORS PARTY HERETO

 

7.625%
SENIOR NOTES DUE 2018

 

 

FIRST
SUPPLEMENTAL INDENTURE

 

Dated
as of January 25, 2010

 

 

The
Bank of New York Mellon,

 

Trustee

 

 

 

 

 

CROSS-REFERENCE
TABLE*

 

	
  Trust Indenture

  Act Section

  	
   

  	
  Indenture Section

  
	
  310(a)(1)

  	
   

  	
  7.10

  
	
  (a)(2)

  	
   

  	
  7.10

  
	
  (a)(3)

  	
   

  	
  N.A.

  
	
  (a)(4)

  	
   

  	
  N.A.

  
	
  (a)(5)

  	
   

  	
  7.10

  
	
  (b)

  	
   

  	
  7.10

  
	
  (c)

  	
   

  	
  N.A.

  
	
  311(a)

  	
   

  	
  7.11

  
	
  (b)

  	
   

  	
  7.11

  
	
  (c)

  	
   

  	
  N.A.

  
	
  312(a)

  	
   

  	
  2.05

  
	
  (b)

  	
   

  	
  12.03

  
	
  (c)

  	
   

  	
  12.03

  
	
  313(a)

  	
   

  	
  7.06

  
	
  (b)

  	
   

  	
  7.06; 7.07

  
	
  (c)

  	
   

  	
  7.06; 12.02

  
	
  (d)

  	
   

  	
  7.06

  
	
  314(a)

  	
   

  	
  4.03; 12.05

  
	
  (b)

  	
   

  	
  10.02

  
	
  (c)(1)

  	
   

  	
  12.04

  
	
  (c)(2)

  	
   

  	
  12.04

  
	
  (c)(3)

  	
   

  	
  N.A.

  
	
  (d)

  	
   

  	
  N.A.

  
	
  (e)

  	
   

  	
  12.05

  
	
  315(a)

  	
   

  	
  N.A.

  
	
  (b)

  	
   

  	
  N.A.

  
	
  (c)

  	
   

  	
  N.A.

  
	
  (d)

  	
   

  	
  N.A.

  
	
  (e)

  	
   

  	
  N.A.

  
	
  316(a) (last
  sentence)

  	
   

  	
  N.A.

  
	
  (a)(1)(A)

  	
   

  	
  N.A.

  
	
  (a)(1)(B)

  	
   

  	
  N.A.

  
	
  (a)(2)

  	
   

  	
  N.A.

  

 

N.A. means not applicable.

*  This Cross
Reference Table is not part of the Indenture.

 

i

 

TABLE
OF CONTENTS

 

	
   

  	
  Page

  
	
   

  	
   

  
	
  ARTICLE 1

  
	
  DEFINITIONS AND INCORPORATION

  
	
  BY REFERENCE

  
	
   

  	
   

  
	
  Section 1.01

  	
  Definitions

  	
  1

  
	
  Section 1.02

  	
  Other Definitions

  	
  22

  
	
  Section 1.03

  	
  Incorporation by Reference of Trust Indenture Act

  	
  22

  
	
  Section 1.04

  	
  Rules of Construction

  	
  23

  
	
   

  	
   

  	
   

  
	
  ARTICLE 2

  
	
  THE NOTES

  
	
   

  	
   

  
	
  Section 2.01

  	
  Form and Dating

  	
  23

  
	
  Section 2.02

  	
  Execution and Authentication

  	
  24

  
	
  Section 2.03

  	
  Registrar and Paying Agent

  	
  24

  
	
  Section 2.04

  	
  Paying Agent to Hold Money in Trust

  	
  25

  
	
  Section 2.05

  	
  Holder Lists

  	
  25

  
	
  Section 2.06

  	
  Transfer and Exchange

  	
  25

  
	
  Section 2.07

  	
  Replacement Notes

  	
  28

  
	
  Section 2.08

  	
  Outstanding Notes

  	
  28

  
	
  Section 2.09

  	
  Treasury Notes

  	
  29

  
	
  Section 2.10

  	
  Temporary Notes

  	
  29

  
	
  Section 2.11

  	
  Cancellation

  	
  29

  
	
  Section 2.12

  	
  Defaulted Interest

  	
  29

  
	
   

  	
   

  	
   

  
	
  ARTICLE 3

  
	
  REDEMPTION AND PREPAYMENT

  
	
   

  	
   

  
	
  Section 3.01

  	
  Notices to Trustee

  	
  30

  
	
  Section 3.02

  	
  Selection of Notes to Be Redeemed or Purchased

  	
  30

  
	
  Section 3.03

  	
  Notice of Redemption

  	
  30

  
	
  Section 3.04

  	
  Effect of Notice of Redemption

  	
  31

  
	
  Section 3.05

  	
  Deposit of Redemption or Purchase Price

  	
  31

  
	
  Section 3.06

  	
  Notes Redeemed or Purchased in Part

  	
  32

  
	
  Section 3.07

  	
  Optional Redemption

  	
  32

  
	
  Section 3.08

  	
  Mandatory Redemption

  	
  33

  
	
  Section 3.09

  	
  Offer to Purchase by Application of Excess Proceeds

  	
  33

  
	
   

  	
   

  	
   

  
	
  ARTICLE 4

  
	
  COVENANTS

  
	
   

  	
   

  
	
  Section 4.01

  	
  Payment of Notes

  	
  34

  
	
  Section 4.02

  	
  Maintenance of Office or Agency

  	
  35

  
	
  Section 4.03

  	
  Reports

  	
  35

  
	
  Section 4.04

  	
  Compliance Certificate

  	
  36

  
	
  Section 4.05

  	
  Taxes

  	
  37

  
	
  Section 4.06

  	
  Stay, Extension and Usury Laws

  	
  37

  
	
  Section 4.07

  	
  Restricted Payments

  	
  37

  
	
  Section 4.08

  	
  Dividend and Other Payment Restrictions Affecting Restricted
  Subsidiaries

  	
  40

  
	
  Section 4.09

  	
  Incurrence of Indebtedness and Issuance of Preferred Stock

  	
  42

  
	
  Section 4.10

  	
  Asset Sales

  	
  45

  

 

ii

 

	
  Section 4.11

  	
  Transactions with Affiliates

  	
  47

  
	
  Section 4.12

  	
  Liens

  	
  49

  
	
  Section 4.13

  	
  Business Activities

  	
  49

  
	
  Section 4.14

  	
  Corporate Existence

  	
  49

  
	
  Section 4.15

  	
  Offer to Repurchase Upon Change of Control

  	
  49

  
	
  Section 4.16

  	
  No Amendment to Subordination Provisions

  	
  50

  
	
  Section 4.17

  	
  Limitation on Sale and Leaseback Transactions

  	
  51

  
	
  Section 4.18

  	
  Payments for Consent

  	
  51

  
	
  Section 4.19

  	
  Additional Note Guarantees

  	
  51

  
	
  Section 4.20

  	
  Designation of Restricted and Unrestricted Subsidiaries

  	
  51

  
	
   

  	
   

  	
   

  
	
  ARTICLE 5

  
	
  SUCCESSORS

  
	
   

  	
   

  
	
  Section 5.01

  	
  Merger, Consolidation, or Sale of Assets

  	
  52

  
	
  Section 5.02

  	
  Successor Corporation Substituted

  	
  53

  
	
   

  	
   

  	
   

  
	
  ARTICLE 6

  
	
  DEFAULTS AND REMEDIES

  
	
   

  	
   

  
	
  Section 6.01

  	
  Events of Default

  	
  53

  
	
  Section 6.02

  	
  Acceleration

  	
  55

  
	
  Section 6.03

  	
  Other Remedies

  	
  56

  
	
  Section 6.04

  	
  Waiver of Past Defaults

  	
  56

  
	
  Section 6.05

  	
  Control by Majority

  	
  56

  
	
  Section 6.06

  	
  Limitation on Suits

  	
  56

  
	
  Section 6.07

  	
  Rights of Holders of Notes to Receive Payment

  	
  57

  
	
  Section 6.08

  	
  Collection Suit by Trustee

  	
  57

  
	
  Section 6.09

  	
  Trustee May File Proofs of Claim

  	
  57

  
	
  Section 6.10

  	
  Priorities

  	
  58

  
	
  Section 6.11

  	
  Undertaking for Costs

  	
  58

  
	
   

  	
   

  	
   

  
	
  ARTICLE 7

  
	
  TRUSTEE

  
	
   

  	
   

  
	
  Section 7.01

  	
  Duties of Trustee

  	
  58

  
	
  Section 7.02

  	
  Rights of Trustee

  	
  59

  
	
  Section 7.03

  	
  Individual Rights of Trustee

  	
  60

  
	
  Section 7.04

  	
  Trustee’s Disclaimer

  	
  60

  
	
  Section 7.05

  	
  Notice of Defaults

  	
  60

  
	
  Section 7.06

  	
  Reports by Trustee to Holders of the Notes

  	
  61

  
	
  Section 7.07

  	
  Compensation and Indemnity

  	
  61

  
	
  Section 7.08

  	
  Replacement of Trustee

  	
  62

  
	
  Section 7.09

  	
  Successor Trustee by Merger, etc.

  	
  63

  
	
  Section 7.10

  	
  Eligibility; Disqualification

  	
  63

  
	
  Section 7.11

  	
  Preferential Collection of Claims Against Company

  	
  63

  
	
   

  	
   

  	
   

  
	
  ARTICLE 8

  
	
  LEGAL DEFEASANCE AND COVENANT DEFEASANCE

  
	
   

  	
   

  
	
  Section 8.01

  	
  Option to Effect Legal Defeasance or Covenant Defeasance

  	
  63

  
	
  Section 8.02

  	
  Legal Defeasance and Discharge

  	
  63

  
	
  Section 8.03

  	
  Covenant Defeasance

  	
  64

  
	
  Section 8.04

  	
  Conditions to Legal or Covenant Defeasance

  	
  64

  

 

iii

 

	
  Section 8.05

  	
  Deposited Money and Government Securities to be Held in Trust; Other
  Miscellaneous Provisions

  	
  65

  
	
  Section 8.06

  	
  Repayment to Company

  	
  66

  
	
  Section 8.07

  	
  Reinstatement

  	
  66

  
	
   

  	
   

  	
   

  
	
  ARTICLE 9

  
	
  AMENDMENT, SUPPLEMENT AND WAIVER

  
	
   

  	
   

  
	
  Section 9.01

  	
  Without Consent of Holders of Notes

  	
  66

  
	
  Section 9.02

  	
  With Consent of Holders of Notes

  	
  67

  
	
  Section 9.03

  	
  Compliance with Trust Indenture Act

  	
  69

  
	
  Section 9.04

  	
  Revocation and Effect of Consents

  	
  69

  
	
  Section 9.05

  	
  Notation on or Exchange of Notes

  	
  69

  
	
  Section 9.06

  	
  Trustee to Sign Amendments, etc.

  	
  69

  
	
   

  	
   

  	
   

  
	
  ARTICLE 10

  
	
  NOTE GUARANTEES

  
	
   

  	
   

  
	
  Section 10.01

  	
  Guarantee

  	
  69

  
	
  Section 10.02

  	
  Limitation on Guarantor Liability

  	
  70

  
	
  Section 10.03

  	
  Execution and Delivery of Note Guarantee

  	
  71

  
	
  Section 10.04

  	
  Guarantors May Consolidate, etc., on Certain Terms

  	
  71

  
	
  Section 10.05

  	
  Releases

  	
  72

  
	
   

  	
   

  	
   

  
	
  ARTICLE 11

  
	
  SATISFACTION AND DISCHARGE

  
	
   

  	
   

  
	
  Section 11.01

  	
  Satisfaction and Discharge

  	
  73

  
	
  Section 11.02

  	
  Application of Trust Money

  	
  74

  
	
   

  	
   

  	
   

  
	
  ARTICLE 12

  
	
  MISCELLANEOUS

  
	
   

  	
   

  
	
  Section 12.01

  	
  Trust Indenture Act Controls

  	
  74

  
	
  Section 12.02

  	
  Notices

  	
  74

  
	
  Section 12.03

  	
  Communication by Holders of Notes with Other Holders of Notes

  	
  75

  
	
  Section 12.04

  	
  Certificate and Opinion as to Conditions Precedent

  	
  75

  
	
  Section 12.05

  	
  Statements Required in Certificate or Opinion

  	
  76

  
	
  Section 12.06

  	
  Rules by Trustee and Agents

  	
  76

  
	
  Section 12.07

  	
  No Personal Liability of Directors, Officers, Employees, Affiliates and
  Stockholders

  	
  76

  
	
  Section 12.08

  	
  Governing Law

  	
  76

  
	
  Section 12.09

  	
  No Adverse Interpretation of Other Agreements

  	
  77

  
	
  Section 12.10

  	
  Successors

  	
  77

  
	
  Section 12.11

  	
  Severability

  	
  77

  
	
  Section 12.12

  	
  Counterpart Originals

  	
  77

  
	
  Section 12.13

  	
  Table of Contents, Headings, etc.

  	
  77

  
	
  Section 12.14

  	
  Waiver of Jury Trial

  	
  77

  
	
  Section 12.15

  	
  Force
  Majeure

  	
  77

  

 

EXHIBITS

 

	
  Exhibit A

  	
   

  	
  FORM OF
  NOTE

  
	
  Exhibit B

  	
   

  	
  FORM OF
  NOTATION OF GUARANTEE

  
	
  Exhibit C

  	
   

  	
  FORM OF SUPPLEMENTAL INDENTURE

  

 

iv

 

 

FIRST SUPPLEMENTAL INDENTURE dated as of January 25,
2010 among B&G Foods, Inc., a Delaware corporation (“the “Company”), the Guarantors (as defined) and The Bank of New
York Mellon, a New York banking corporation, as trustee (the “Trustee”).

 

WHEREAS, the Company has heretofore executed and
delivered a base indenture dated as of January 25, 2009 (the “Base Indenture”) among the Company, the Guarantors (as
defined) and the Trustee, providing for the issuance from time to time of one
or more series of the Company’s securities.

 

WHEREAS, the Company has duly authorized the issue of
7.625% Senior Notes due 2018 (as they may be issued from time to time under
this First Supplemental Indenture, including any additional Notes, the “Notes”), and in connection therewith, the Company has duly
determined to make, execute and deliver this First Supplemental Indenture to
set forth the terms and provisions of the Notes as contemplated by the Base
Indenture.  This First Supplemental Indenture
sets forth the terms of the Indenture in its entirety and does not incorporate
the terms of the Base Indenture.

 

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

 

ARTICLE 1

DEFINITIONS AND INCORPORATION

BY REFERENCE

 

Section 1.01             Definitions.

 

“2011 Senior Notes”
means B&G Foods 8.0% Senior Notes due 2011.

 

“2011 Senior Notes
Indenture” means the indenture relating to the 2011 Senior Notes
dated October 14, 2004.

 

“Acquired Debt”
means, with respect to any specified Person:

 

(1) Indebtedness of any other Person existing at
the time such other Person is merged with or into or became a Subsidiary of
such specified Person, whether or not such Indebtedness is incurred in connection
with, or in contemplation of, such other Person merging with or into, or
becoming a Restricted Subsidiary of, such specified Person; and

 

(2) Indebtedness secured by a Lien encumbering
any asset acquired by such specified Person.

 

provided
that the amount
of Acquired Debt only at the time so acquired will include the accreted value
together with any interest thereon that is more than 30 days past due; provided, further, that Indebtedness of
such other Person that is redeemed, defeased, retired or otherwise repaid at
the time, or immediately upon consummation, of the transaction by which such
other Person is merged with or into or became a Restricted Subsidiary of such
Person will not be Acquired Debt.

 

“Additional Notes”
means Notes (other than the Initial Notes) issued under this Indenture in
accordance with Sections 2.02 and 4.09 hereof, as part of the same series as
the Initial Notes.

 

“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 purposes of this definition, “control,” as used with respect to any
Person, means the possession, directly or indirectly, of 

 

1

 

the power to direct or
cause the direction of the management or policies of such Person, whether
through the ownership of voting securities, by agreement or otherwise; provided that beneficial ownership of 10% or more of the
Voting Stock of a Person will be deemed to be control.  For purposes of this definition, the terms “controlling,” “controlled by”
and “under common control with” have
correlative meanings.

 

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

 

“Applicable Premium”
means, with respect to any note on any redemption date, the greater of:

 

(1) 1.0% of the principal amount of the note; or

 

(2) the excess of:

 

(a)  the present value at such redemption date of (i) the
redemption price of the note at January 15, 2014, (such redemption price
being set forth in the table in Section 3.07 hereof) plus (ii) all
required interest payments due on the note through January 15, 2014,
(excluding accrued but unpaid interest to the redemption date), computed using
a discount rate equal to the Treasury Rate as of such redemption date plus 50
basis points; over

 

(b)  the principal amount of the note.

 

“Applicable Procedures”
means, with respect to any transfer or exchange of or for beneficial interests
in any Global Note, the rules and procedures of the Depositary, Euroclear
and Clearstream that apply to such transfer or exchange.

 

“Asset Sale”
means

 

(1) the sale, lease, conveyance or other
disposition of any assets or rights; provided
that the sale, lease, conveyance or other disposition of all or substantially
all of the assets of the Company and its Restricted Subsidiaries taken as a
whole will be governed by Section 4.15 hereof and/or Section 5.01
hereof and not Section 4.10 hereof; and

 

(2) the issuance or sale of Equity Interests in
any of the Company’s Restricted Subsidiaries (other than directors’ qualifying
shares or shares required by applicable law to be held by a Person other than
the Company or a Restricted Subsidiary).

 

Notwithstanding the preceding, none of the following items
will be deemed to be an Asset Sale:

 

(1)           any single transaction or series of
related transactions that involves (a) assets having a Fair Market Value
of less than $5.0 million or (b) Net Proceeds of less than $5.0 million;

 

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

 

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

 

(4)           the
sale, lease, conveyance or other disposition of products, services, inventory,
equipment or accounts receivable in the ordinary course of business, including
any sale or other disposition of damaged, worn-out, obsolete, negligible or
surplus assets in the ordinary course of business;

 

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

 

2

 

(6)           the
surrender or waiver of contract rights, the settlement, release or surrender of
contract, tort or other litigation claims in the ordinary course of business,
and the granting of (or permitted realization of) Liens not prohibited by this
Indenture;

 

(7)           a
Restricted Payment that complies with Section 4.07 hereof or a Permitted
Investment;

 

(8)           sales
or grants of licenses or sublicenses of intellectual property, and licenses,
leases or subleases of other assets, of the Company or any of its Restricted
Subsidiaries to the extent not materially interfering with the business of the
Company and its Restricted Subsidiaries;

 

(9)           any
exchange of like-kind property pursuant to Section 1031 of the Code that
are used or useful in a Permitted Business; and

 

(10)         the
abandonment of intellectual property rights in the ordinary course of business,
which in the reasonable good faith determination of B&G Foods or any of its
Restricted Subsidiaries are not material to the conduct of the business of
B&G Foods and its Restricted Subsidiaries taken as a whole

 

“Attributable Debt”
in respect of a sale and leaseback transaction means, at the time of
determination, the present value of the obligation of the lessee for net rental
payments during the remaining term of the lease included in such sale and
leaseback transaction including any period for which such lease has been
extended or may, at the option of the lessor, be extended.  Such present value shall be calculated using
a discount rate equal to the rate of interest implicit in such transaction,
determined in accordance with GAAP; provided,
however, that if such sale and leaseback transaction results in a
Capital Lease Obligation, the amount of Indebtedness represented thereby will
be determined in accordance with the definition of “Capital Lease Obligation.”

 

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

 

“Base Indenture”
has the meaning set forth in the preamble to this Supplemental Indenture.

 

“Beneficial Owner”
has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5
under the Exchange Act, except that in calculating the beneficial ownership of
any particular “person” (as that term is used in Section 13(d)(3) of
the Exchange Act), such “person” will be deemed to have beneficial ownership of
all securities that such “person” has the right to acquire by conversion or
exercise of other securities, whether such right is currently exercisable or is
exercisable only after the passage of time. 
The terms “Beneficially Owns” and “Beneficially Owned” have a
corresponding meaning.

 

“Board of Directors”
means:

 

(1)           with respect to a corporation, the
board of directors of the corporation or any committee thereof duly authorized
to act on behalf of such board;

 

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

 

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

 

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

 

3

 

“Borrowing Base”
means, as of any date, an amount equal to:

 

(1)           85% of the face amount of all
accounts receivable owned by the Company and its Restricted Subsidiaries as of
the end of the most recent fiscal quarter preceding such date that were not
more than 90 days past due; plus

 

(2)           50% of the book value of all
inventory, net of reserves, owned by the Company and its Restricted
Subsidiaries as of the end of the most recent fiscal quarter preceding such
date,

 

in each case
determined in accordance with GAAP.

 

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

 

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

 

“Capital Stock”
means:

 

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

 

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

 

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

 

(4)           any other interest or participation
that confers on a Person the right to receive a share of the profits and losses
of, or distributions of assets of, the issuing Person, but excluding from all
of the foregoing any debt securities convertible into Capital Stock, whether or
not such debt securities include any right of participation with Capital Stock.

 

“Cash Equivalents”
means:

 

(1)           United States dollars and Canadian
dollars;

 

(2)           securities issued or directly and
fully guaranteed or insured by the United States government or any agency or
instrumentality of the United States government (provided
that the full faith and credit of the United States is pledged in support of
those securities) having maturities of not more than one year from the date of
acquisition;

 

(3)           certificates of deposit and
eurodollar time deposits with maturities of six months or less from the date of
acquisition, bankers’ acceptances with maturities not exceeding six months and
overnight bank deposits, in each case, with any domestic commercial bank having
capital and surplus in excess of $500.0 million and a Thomson Bank Watch Rating
of “B” or better;

 

4

 

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

 

(5)           commercial paper having one of the
two highest ratings obtainable from Moody’s Investors Service, Inc. or
Standard & Poor’s Rating Services and, in each case, maturing within
one year after the date of acquisition;

 

(6)           money market funds at least 95% of
the assets of which constitute Cash Equivalents of the kinds described in
clauses (1) through (5) of this definition; and

 

(7)           readily marketable direct obligations
issued by any State of the United States of America or any political
subdivision thereof having maturities of not more than one year from the date
of acquisition and having one of the two highest rating categories obtainable
from either Moody’s Investors Service, Inc. or Standard & Poor’s
Rating Services.

 

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

 

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

 

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

 

(3)           the consummation of any transaction
(including, without limitation, any merger or consolidation), the result of
which is that any “person” (as defined above), other than the Principals and
their Related Parties, becomes the Beneficial Owner, directly or indirectly, of
more than 50% of the Voting Stock of the Company, measured by voting power
rather than number of shares; or

 

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

 

“Clearstream”
means Clearstream Banking, S.A.

 

“Code” means the
Internal Revenue Code of 1986, as amended from time to time.

 

“Company” means B&G Foods, Inc. and
any and all successors thereto.

 

“Consolidated Cash Flow”
means, with respect to any specified Person for any period, the Consolidated
Net Income of such Person for such period plus,
without duplication:

 

(1)           an amount equal to any extraordinary
loss plus any net loss realized by such Person or any of its Restricted
Subsidiaries in connection with an Asset Sale, to the extent such losses were
deducted in computing such Consolidated Net Income; plus

 

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

 

5

 

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

 

(4)           depreciation, amortization (including
amortization of goodwill and other intangibles but excluding amortization of
prepaid cash expenses that were paid in a prior period and including, without
limitation, any marking to market of derivative securities or securities held
in any deferred compensation plan) and other non-cash expenses (excluding any
such non-cash expense to the extent that it represents an accrual of or reserve
for cash expenses in any future period or amortization of a prepaid cash
expense that was paid in a prior period) of such Person and its Restricted
Subsidiaries for such period to the extent that such depreciation, amortization
and other non-cash expenses were deducted in computing such Consolidated Net
Income; plus

 

(5)           fees and expenses related to the
Transactions not to exceed $20.0 million in the aggregate actually incurred
within three months of the date hereof; plus

 

(6)           charges incurred within 180 days of
the date hereof attributable to the write-off of bond discount and the
write-off of deferred financing fees and costs, relating to the pay off of
existing Indebtedness in an amount not to exceed $5.0 million; minus

 

(7)           non-cash items increasing such
Consolidated Net Income for such period (including, without limitation, any
marking to market of derivative securities or securities held in any deferred
compensation plan), other than the accrual of revenue in the ordinary course of
business;

 

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

 

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

 

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

 

(2)           the Net Income of any Restricted
Subsidiary will be excluded to the extent that the declaration or payment of
dividends or similar distributions by that Restricted Subsidiary of that Net
Income to such Person and its Restricted Subsidiaries is not at the date of
determination permitted without any prior governmental approval (that has not
been obtained) or, directly or indirectly, by operation of the terms of its
charter or any agreement, instrument, judgment, decree, order, statute, rule or
governmental regulation applicable to that Restricted Subsidiary or its
stockholders;

 

(3)           the cumulative effect of a change in
accounting principles will be excluded;

 

(4)           any unrealized gains and with respect
to Hedging Obligations for such period will be excluded;

 

(5)           any unrealized gains and losses
related to fluctuations in currency exchange rates for such period will be
excluded;

 

6

 

(6)           any gains and losses from any early
extinguishment of Indebtedness will be excluded;

 

(7)           any gains and losses from any
redemption or repurchase premiums paid with respect to the notes will be
excluded; and

 

(8)           any deferred financing costs
(including the amortization of original issue discount) associated with
Indebtedness of B&G Foods will be excluded.

 

“continuing”
means, with respect to any Default or Event of Default, that such Default or
Event of Default has not been cured or waived.

 

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

 

(1)           was a member of such Board of
Directors on the date of this Indenture; or

 

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

 

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

 

“Credit Agreement”
means that certain Amended and Restated Credit Agreement, dated as of February 23,
2007 by and among the Company, Credit Suisse, Cayman Islands Branch (as
successor to Lehman Commercial Paper, Inc.), as administrative agent, and
the lenders from time to time party thereto, including any related notes,
Guarantees, collateral documents, instruments and agreements executed in
connection therewith, and, in each case, as amended, restated, modified,
renewed, refunded, replaced in any manner (whether upon or after termination or
otherwise) or refinanced (including by means of sales of debt securities to
institutional investors) in whole or in part from time to time.

 

“Credit Facilities”
means, one or more debt facilities (including, without limitation, the Credit
Agreement) or commercial paper facilities, in each case, with banks or other
lenders providing for revolving credit loans, term loans, receivables financing
(including through the sale of receivables to such lenders or to special
purpose entities formed to borrow from such lenders against such receivables)
or letters of credit, in each case, as amended, restated, modified, renewed,
refunded, replaced in any manner (whether upon or after termination or
otherwise) or refinanced (including by means of sales of debt securities to
institutional investors) in whole or in part from time to time (whether upon or
after termination or otherwise) or refinanced (including by means of sales of
debt securities to institutional investors) in whole or in part from time to
time.

 

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

 

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

 

“Definitive Note”
means a certificated Note registered in the name of the Holder thereof and
issued in accordance with Section 2.06 hereof, substantially in the form
of Exhibit A hereto except that 

 

7

 

such Note shall not bear
the Global Note Legend and shall not have the “Schedule of Exchanges of
Interests in the Global Note” attached thereto.

 

“Depositary”
means, with respect to the Notes issuable or issued in whole or in part in
global form, the Person specified in Section 2.03 hereof as the Depositary
with respect to the Notes, and any and all successors thereto appointed as
depositary hereunder and having become such pursuant to the applicable
provision of this Indenture.

 

“Disqualified Stock”
means any Capital Stock that, by its terms (or by the terms of any security
into which it is convertible, or for which it is exchangeable, in each case at
the option of the holder of the Capital Stock), or upon the happening of any
event, matures or is mandatorily redeemable, pursuant to a sinking fund
obligation or otherwise, or redeemable at the option of the holder of the
Capital Stock, in whole or in part, on or prior to the date that is 91 days
after the date on which the Notes mature. 
Notwithstanding the preceding sentence, any Capital Stock that would
constitute Disqualified Stock solely because the holders of the Capital Stock
have the right to require the Company to repurchase such Capital Stock upon the
occurrence of a change of control or an asset sale will not constitute
Disqualified Stock if the terms of such Capital Stock provide that the Company
may not repurchase or redeem any such Capital Stock pursuant to such provisions
unless such repurchase or redemption complies with Section 4.07
hereof.  The amount of Disqualified Stock
deemed to be outstanding at any time for purposes of this Indenture will be the
maximum amount that the Company and its Restricted Subsidiaries may become
obligated to pay upon the maturity of, or pursuant to any mandatory redemption
provisions of, such Disqualified Stock, exclusive of accrued dividends.

 

“Domestic Subsidiaries”
means any Restricted Subsidiary of the Company that was formed under the laws
of the United States or any state of the United States or the District of
Columbia.

 

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

 

“Equity Offering”
means a public or private sale either (1) of Equity Interests of the
Company by the Company (other than Disqualified Stock and other than to a
Subsidiary of the Company or pursuant to a registration statement on Form S-8
or otherwise relating to equity securities issuable under any employee benefit
plan of the Company) or (2) of Equity Interests of a direct or indirect
parent entity of the Company (other than to the Company or a Subsidiary of the
Company) to the extent that the net proceeds therefrom are contributed to the
common equity capital of the Company.

 

“Euroclear”
means Euroclear Bank, S.A./N.V., as operator of the Euroclear system.

 

“Excess Cash”
means, with respect to any specified Person for any period, the Consolidated
Cash Flow of that Person for such period, 
minus the sum of the
following, each determined for such period on a consolidated basis:

 

(1)           cash income taxes paid for such
Person and its Restricted Subsidiaries; plus

 

(2)           cash interest expense paid by such
Person and its Restricted Subsidiaries, whether or not capitalized (including,
without limitation, the interest component of all payments associated with
Capital Lease Obligations, imputed interest with respect to Attributable Debt,
commissions, discounts and other fees and charges incurred in respect of letter
of credit or bankers’ acceptance financings, and net of the effect of all
payments made or received pursuant to Hedging Obligations in respect of
interest rates); plus

 

8

 

(3)           additions to property, plant and
equipment and other capital expenditures of such Person and its Restricted
Subsidiaries that are (or would be) set forth in a consolidated statement of
cash flows of such Person and its Restricted Subsidiaries for such period
prepared in accordance with GAAP, except to the extent financed by the
incurrence of Indebtedness; plus

 

(4)           the
aggregate principal amount of long-term Indebtedness repaid by such Person and
its Restricted Subsidiaries and the repayment by such Person and any Restricted
Subsidiary of any short-term Indebtedness that financed capital expenditures
referred to in clause (3) above, excluding any such repayments (a) under
working capital facilities (except to the extent that such Indebtedness so
repaid was incurred to finance capital expenditures as described in clause (3) above,
(b) out of Net Proceeds of Assets Sales as provided in Section 3.09
hereof and (c) through a refinancing involving the incurrence of new
long-term Indebtedness.

 

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

 

“Existing Indebtedness”
means Indebtedness of the Company and its Restricted Subsidiaries (including
pursuant to the 2011 Senior Notes, the Senior Subordinated Notes and the Credit
Agreement, to the extent outstanding following the execution of this Indenture)
in existence on the date hereof, reduced to the extent such amounts are repaid,
refinanced or retired.

 

“Fair Market Value”  means the value that would be paid by a
willing buyer to an unaffiliated willing seller in a transaction not involving
distress or necessity of either party, determined in good faith by the Board of
Directors of the Company (unless otherwise provided in this Indenture).

 

“First Supplemental
Indenture” means this First Supplemental Indenture, dated as of the
date first written above, among the Company, the Guarantors and the Trustee,
governing the Notes, as amended, supplemented or otherwise modified from time
to time in accordance with the terms hereof.

 

“Fixed Charge Coverage
Ratio” means with respect to any specified Person for any period,
the ratio of the Consolidated Cash Flow of such Person for such period to the
Fixed Charges of such Person for such period. 
In the event that the specified Person or any of its Restricted
Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems,
defeases or otherwise discharges any Indebtedness (other than ordinary working
capital borrowings) or issues, repurchases or redeems preferred stock
subsequent to the commencement of the period for which the Fixed Charge
Coverage Ratio is being calculated and on or prior to the date on which the
event for which the calculation of the Fixed Charge Coverage Ratio is made (the
“Calculation Date”), then the
Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such
incurrence, assumption, Guarantee, repayment, repurchase, redemption,
defeasance or other discharge of Indebtedness, or such issuance, repurchase or
redemption of preferred stock, and the use of the proceeds therefrom, as if the
same had occurred at the beginning of the applicable four-quarter reference
period.

 

In addition, for purposes of calculating the Fixed
Charge Coverage Ratio:

 

(1)           acquisitions that have been made by
the specified Person or any of its Restricted Subsidiaries, including through
mergers or consolidations, or any Person or any of its Restricted Subsidiaries
acquired by the specified Person or any of its Restricted Subsidiaries, and
including any related financing transactions and including increases in
ownership of Restricted Subsidiaries, during the four-quarter reference period
or subsequent to such reference period and on or prior to the Calculation Date
will be given pro forma effect as if they had occurred on the first day of the
four-quarter reference period, and Consolidated Cash Flow for such reference
period will be calculated on a pro forma basis (including with respect to any
cost savings so long 

 

9

 

as such cost
savings are factually supportable and expected to have a continuing effect on
such Person or any of its Restricted Subsidiaries;

 

(2)           the Consolidated Cash Flow
attributable to discontinued operations, as determined in accordance with GAAP,
and operations or businesses (and ownership interests therein) disposed of
prior to the Calculation Date, will be excluded;

 

(3)           the Fixed Charges attributable to
discontinued operations, as determined in accordance with GAAP, and operations
or businesses (and ownership interests therein) disposed of prior to the
Calculation Date, will be excluded, but only to the extent that the obligations
giving rise to such Fixed Charges will not be obligations of the specified
Person or any of its Restricted Subsidiaries following the Calculation Date;

 

(4)           any Person that is a Restricted
Subsidiary on the Calculation Date will be deemed to have been a Restricted
Subsidiary at all times during such four-quarter period;

 

(5)           any Person that is not a Restricted
Subsidiary on the Calculation Date will be deemed not to have been a Restricted
Subsidiary at any time during such four-quarter period; and

 

(6)           if any Indebtedness bears a floating
rate of interest, the interest expense on such Indebtedness will be calculated
as if the rate in effect on the Calculation Date had been the applicable rate
for the entire period (taking into account any Hedging Obligation applicable to
such Indebtedness if such Hedging Obligation has a remaining term as at the
Calculation Date in excess of 12 months).

 

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

 

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

 

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

 

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

 

(4)           the product of (a) all
dividends, whether paid or accrued and whether or not in cash, on any series of
preferred stock of such Person or any of its Restricted Subsidiaries, other
than dividends on Equity Interests payable solely in Equity Interests of the
Company (other than Disqualified Stock) or to the Company or a Restricted
Subsidiary of the Company, times (b) a
fraction, the numerator of which is one and the denominator of which is one
minus the then 

 

10

 

current combined
federal, state and local statutory tax rate of such Person, expressed as a decimal,
in each case, determined on a consolidated basis in accordance with GAAP; minus

 

(5)           charges attributable to the
amortization of expenses relating to the Transactions incurred within 180 days
of the date of this Indenture.

 

“Form Indenture”
has the meaning assigned to it in the preamble to this Indenture.

 

“GAAP” means
generally accepted accounting principles set forth in the opinions and
pronouncements of the Accounting Principles Board of the American Institute of
Certified Public Accountants and statements and pronouncements of the Financial
Accounting Standards Board or in such other statements by such other entity as
have been approved by a significant segment of the accounting profession in the
United States, which are in effect on the date of this Indenture.  At any time after the date hereof, the
Company may elect to apply IFRS accounting principles in lieu of GAAP and, upon
any such election, references herein to GAAP shall thereafter be construed to mean
IFRS (except as otherwise provided herein); provided
that calculations or determinations herein that require the application of GAAP
for periods that include fiscal quarters ended prior to the Company’s election
to apply IFRS shall remain as previously calculated or determined in accordance
with GAAP.  The Company will provide
notice of any such election made in accordance with this definition to the
Trustee and the Holders.

 

“Global Note Legend”
means the legend set forth in Section 2.06(g)(2) hereof, which is
required to be placed on all Global Notes issued under this Indenture.

 

“Global Notes”
means, individually and collectively, each of the Global Notes deposited with
or on behalf of and registered in the name of the Depository or its nominee,
substantially in the form of Exhibit A hereto and that bears the Global
Note Legend and that has the “Schedule of Exchanges of Interests in the Global
Note” attached thereto, issued in accordance with Section 2.01, 2.06(b) or
2.06(d) hereof.

 

“Government Securities”
means direct obligations of, or obligations guaranteed by, the United States of
America (including any agency or instrumentality thereof) for the payment of
which obligations or guarantees the full faith and credit of the United States
of America is pledged and which are not callable or redeemable at the issuer’s
option and shall also include a depository receipt issued by a bank (as defined
in Section 3(a)(2) of the Securities Act), as custodian with respect
to any such Government Securities or a specific payment of principal of or
interest on any such Government Securities held by such custodian for the
account of the holder of such depository receipt; provided that (except as
required by law) such custodian is not authorized to make any deduction from
the amount payable to the holder of such depository receipt from any amount
received by the custodian in respect of the Government Securities or the
specific payment of principal of or interest on the Government Securities
evidenced by such depository receipt.

 

“Guarantee”
means a guarantee other than by endorsement of negotiable instruments for
collection or standard contractual indemnities in the ordinary course of
business, direct or indirect, in any manner including, without limitation, by
way of a pledge of assets or through letters of credit or reimbursement
agreements in respect thereof, of all or any part of any Indebtedness (whether
arising by virtue of partnership arrangements, or by agreements to keep-well,
to purchase assets, goods, securities or services, to take or pay or to maintain
financial statement conditions or otherwise).

 

“Guarantors”
means each of:

 

11

 

 

 

(1)           BGH Holdings, Inc., Bloch &
Guggenheimer, Inc., Burnham & Morrill Company and William
Underwood Company; and

 

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

 

and their respective successors and assigns, in each
case, until the Note Guarantee of such Person has been released in accordance
with the provisions of this Indenture.

 

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

 

(1)           interest rate swap agreements
(whether from fixed to floating or from floating to fixed), interest rate cap
agreements and interest rate collar agreements;

 

(2)           other agreements or arrangements
designed to manage interest rates or interest rate risk; and

 

(3)           other agreements or arrangements
designed to protect such Person against fluctuations in currency exchange rates
or commodity prices.

 

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

 

“IFRS” means
International Financial Reporting Standards.

 

“Immaterial Subsidiary”
means, as of any date, any Restricted Subsidiary whose total assets, as of that
date, are less than $100,000 and whose total revenues for the most recent
12-month period do not exceed $100,000; provided
that a Restricted Subsidiary will not be considered to be an Immaterial
Subsidiary if it, directly or indirectly, guarantees or otherwise provides
direct credit support for any Indebtedness of the Company.

 

“Indebtedness”
means, with respect to any specified Person, any indebtedness of such Person
(excluding accrued expenses and trade payables), whether or not contingent:

 

(1)           in respect of borrowed money;

 

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

 

(3)           in respect of banker’s acceptances;

 

(4)           representing Capital Lease
Obligations or Attributable Debt in respect of sale and leaseback transactions;

 

(5)           representing the balance deferred and
unpaid of the purchase price of any property or services, which purchase price
is due more than six months after the date of placing such property in service
or taking delivery and title thereto, except any such balance that constitutes
an accrued expense or trade payable or any similar obligation to trade
creditors; or

 

(6)           representing any Hedging Obligations,

 

12

 

if and to the extent any of the preceding items (other
than letters of credit, Attributable Debt and Hedging Obligations) would appear
as a liability upon a balance sheet of the specified Person prepared in
accordance with GAAP.  In addition, the
term “Indebtedness” includes all Indebtedness of others secured by a Lien on
any asset of the specified Person (whether or not such Indebtedness is assumed
by the specified Person; provided
that if the holder of such Indebtedness has no recourse to such Person other
than to the asset, the amount of such Indebtedness will be deemed to equal the
lesser of the value of such asset and the amount of the obligation so secured)
and, to the extent not otherwise included, the Guarantee by the specified
Person of any Indebtedness of any other Person.

 

“Indenture”
means this First Supplemental Indenture.

 

“Indirect Participant”
means a Person who holds a beneficial interest in a Global Note through a
Participant.

 

“Initial Notes”
means the first $350,000,000 aggregate principal amount of Notes issued under
this Indenture on the date hereof.

 

“Investments”
means, with respect to any Person, all direct or indirect investments by such
Person in other Persons (including Affiliates) in the forms of loans (including
Guarantees or other obligations), advances or capital contributions (excluding
accounts receivable, trade credit and advances to customers in the ordinary
course of business and commission, travel and similar advances to officers and
employees made in the ordinary course of business), purchases or other
acquisitions for consideration of Indebtedness, Equity Interests or other
securities, together with all items that are or would be classified as
investments on a balance sheet prepared in accordance with GAAP.  If the Company or any Subsidiary of the
Company sells or otherwise disposes of any Equity Interests of any direct or
indirect Subsidiary of the Company such that, after giving effect to any such
sale or disposition, such Person is no longer a Subsidiary of the Company, the
Company will be deemed to have made an Investment on the date of any such sale
or disposition equal to the Fair Market Value of the Company’s Investments in
such Subsidiary that were not sold or disposed of in an amount determined as
provided in Section 4.07(c) hereof. 
The acquisition by the Company or any Subsidiary of the Company of a
Person that holds an Investment in a third Person will not be deemed to be an
Investment by the Company or such Subsidiary in such third Person if the
purpose of such acquisition by the Company or such Subsidiary was not the
Investment in such third Person.  Except
as otherwise provided in this Indenture, the amount of an Investment will be
determined at the time the Investment is made and without giving effect to
subsequent changes in value.

 

“Joint Venture”
means any joint venture between the Company and/or any Restricted Subsidiary
and any other Person if such joint venture is:

 

(1)           owned 50% or less by the Company
and/or any of its Restricted Subsidiaries; and

 

(2)           not directly or indirectly controlled
by or under direct or indirect common control of the Company and/or any of its
Restricted Subsidiaries.

 

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

 

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

 

13

 

under applicable law,
including any conditional sale or other title retention agreement, any lease in
the nature thereof, any option or other agreement to sell or give a security
interest in and any filing of or agreement to give any financing statement
relating to a lien on an asset under the Uniform Commercial Code (or equivalent
statutes) of any jurisdiction.

 

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

 

(1)           any gain or loss, together with any
related provision for taxes on such gain or loss, realized in connection with:

 

(a)   any Asset Sale; or

 

(b)   the disposition of any securities by such
Person or any of its Restricted Subsidiaries or the extinguishment of any
Indebtedness of such Person or any of its Restricted Subsidiaries; and

 

(2)           any extraordinary gain or loss,
together with any related provision for taxes on such extraordinary gain (but
not loss).

 

“Net Proceeds”
means the aggregate cash proceeds received by the Company or any of its
Restricted Subsidiaries in respect of any Asset Sale (including, without
limitation, any cash received upon the sale or other disposition of any
non-cash consideration received in any Asset Sale), net of the direct costs relating
to such Asset Sale, including, without limitation, legal, accounting and
investment banking fees, and sales commissions, and any relocation expenses
incurred as a result of the Asset Sale, taxes paid or payable as a result of
the Asset Sale, in each case, after taking into account any available tax
credits or deductions and any tax sharing arrangements, and amounts required to
be applied to the repayment of Indebtedness, other than Indebtedness under a
Credit Facility, secured by a Lien on the asset or assets that were the subject
of such Asset Sale and any reserve for adjustment in respect of the sale price
of such asset or assets established in accordance with GAAP.

 

“Non-Recourse Debt”
means Indebtedness:

 

(1)           as to which neither the Company nor
any of its Restricted Subsidiaries (a) provides credit support of any kind
(including any undertaking, agreement or instrument that would constitute
Indebtedness), (b) is directly or indirectly liable as a guarantor or
otherwise, or (c) constitutes the lender;

 

(2)           no default with respect to which
(including any rights that the holders of the Indebtedness may have to take
enforcement action against an Unrestricted Subsidiary) would permit upon
notice, lapse of time or both any holder of any other Indebtedness of the
Company or any of its Restricted Subsidiaries to declare a default on such
other Indebtedness or cause the payment of the Indebtedness to be accelerated
or payable prior to its Stated Maturity; and

 

(3)           as to which the lenders have been
notified in writing that they will not have any recourse to the stock or assets
of the Company or any of its Restricted Subsidiaries.

 

“Non-U.S. Person”
means a Person who is not a U.S. Person.

 

14

 

“Note Guarantee”
means the Guarantee by each Guarantor of the Company’s obligations under this
Indenture and the Notes, executed pursuant to the provisions of this Indenture.

 

“Notes” has the
meaning assigned to it in the preamble to this Indenture.  The Initial Notes and the Additional Notes
shall be treated as a single class for all purposes under this Indenture, and
unless the context otherwise requires, all references to the Notes shall
include the Initial Notes and any Additional Notes.

 

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

 

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

 

“Officers’ Certificate”
means the officers’ certificate to be delivered upon the occurrence of
specified events as set forth hereunder.

 

“Opinion of Counsel”
means an opinion from legal counsel that meets the requirements of Section 12.05
hereof.  The counsel may be an employee
of or counsel to the Company, any Subsidiary of the Company or the Trustee.

 

“Participant”
means, with respect to the Depositary, Euroclear or Clearstream, a Person who
has an account with the Depositary, Euroclear or Clearstream, respectively
(and, with respect to DTC, shall include Euroclear and Clearstream).

 

“Permitted Business”  means the business of the Company and its Subsidiaries as
existing on the date hereof and any other businesses that are the same, similar
or reasonably related, ancillary or complementary thereto and reasonable
extensions thereof.

 

“Permitted Investments”
means:

 

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

 

(2)           any Investment in Cash Equivalents;

 

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

 

(a)   such Person becomes a Restricted Subsidiary
of the Company; or

 

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

 

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

 

(5)           any acquisition of assets or Capital
Stock solely in exchange for the issuance of Equity Interests (other than
Disqualified Stock) of the Company;

 

15

 

(6)           any Investments received (a) in
compromise or resolution of (i) obligations of trade creditors or
customers that were incurred in the ordinary course of business of the Company
or any of its Restricted Subsidiaries, including pursuant to any plan of
reorganization or similar arrangement upon the bankruptcy or insolvency of any
trade creditor or customer or (ii) litigation, arbitration or other
disputes with Persons who are not Affiliates; or (b) in satisfaction of
judgments;

 

(7)           Investments represented by Hedging
Obligations;

 

(8)           loans or advances to directors,
officers, employees and consultants made in the ordinary course of business of
the Company or the Restricted Subsidiary of the Company in an aggregate
principal amount not to exceed $5.0 million at any one time outstanding;

 

(9)           repurchases of the Notes;

 

(10)         intercompany loans to the extent
permitted by Section 4.09 hereof;

 

(11)         loans by the Company in an aggregate
principal amount not exceeding $5.0 million to employees of the Company or its
Restricted  Subsidiaries to finance the sale of
the Company’s Capital Stock by the Company to such employees; provided that the net cash proceeds from
such sales respecting such loaned amounts will not be included in the
calculation described in clause (b) of the second paragraph (1) of Section 4.07(a) hereof;

 

(12)         any Investment in existence on the date
hereof;

 

(13)         receivables owing to the Company or any
Restricted Subsidiary if created or acquired in the ordinary course of business
and payable or dischargeable in accordance with customary trade terms;

 

(14)         any Investment in any Person to the extent
the Investment consists of prepaid expenses, negotiable instruments held for
collection and lease, utility and workers’ compensation, performance and other
similar deposits made in the ordinary course of business by the Company or any
of its Restricted Subsidiaries;

 

(15)         guarantees otherwise permitted by the
terms of this Indenture, including guarantees of Indebtedness, performance
guarantees and guarantees of operating leases or other obligations that do not
constitute Indebtedness, in each case entered into in the ordinary course of
business; and

 

(16)         other Investments in any Person having
an aggregate Fair Market Value (measured on the date each such Investment was
made and without giving effect to subsequent changes in value), when taken
together with all other Investments made pursuant to this clause (16) that
are at the time outstanding, not to exceed the greater of (i) 3.0% of
Total Assets and (ii) $30.0 million at the time of such Investment
(with the Fair Market Value of each Investment being measured at the time made
and without giving effect to subsequent changes in value); provided that if an Investment made
pursuant to this clause (16) is made in any Person that is not a
Restricted Subsidiary of the Company at the date of the making of the Investment
and such Person becomes a Restricted Subsidiary after such date, such
Investment will thereafter be deemed to have been made pursuant to clause (1) above
and shall cease to have been made pursuant to this clause (16).

 

16

 

“Permitted Liens”
means:

 

(1)           Liens on assets of the Company or any
of its Restricted Subsidiaries securing Indebtedness and other Obligations
under Credit Facilities that were permitted by the terms of this Indenture to
be incurred and/or securing certain Hedging Obligations;

 

(2)           Liens in favor of the Company or the
Guarantors;

 

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

 

(4)           Liens on property (including Capital
Stock) existing at the time of acquisition of the property by the Company or
any Subsidiary of the Company; provided
that such Liens were not incurred in contemplation of, such acquisition;

 

(5)           Liens to secure the performance of
statutory obligations, surety or appeal bonds, performance bonds, deposits to
secure the performance of bids, trade contracts, government contracts, warranty
requirements, leases or licenses or other obligations of a like nature or
incurred in the ordinary course of business (including, without limitation,
landlord Liens on leased real property and rights of offset and set-off);

 

(6)           Liens to secure Indebtedness
(including Capital Lease Obligations) permitted by Section 4.09(b)(4) of this Indenture; covering only the
assets acquired with or financed by such Indebtedness;

 

(7)           Liens existing on the date hereof;

 

(8)           Liens for taxes, assessments or
governmental charges or claims that are not yet delinquent or that are being
contested in good faith by appropriate proceedings promptly instituted and
diligently concluded; provided
that any reserve or other appropriate provision as is required in conformity
with GAAP has been made therefor;

 

(9)           Liens imposed by law, such as
carriers’, warehousemen’s, landlord’s, materialmen’s, repairmen’s and mechanics’
Liens, in each case, incurred in the ordinary course of business;

 

(10)         survey exceptions, easements or
reservations of, or rights of others for, licenses, rights-of-way, sewers,
electric lines, telegraph and telephone lines and other similar purposes, or
zoning or other restrictions as to the use of real property that were not
incurred in connection with Indebtedness and that do not in the aggregate
materially adversely affect the value of said properties or materially impair
their use in the operation of the business of such Person;

 

(11)         Liens created for the benefit of (or to
secure) the Notes (or the Note Guarantees);

 

(12)         Liens to secure any Permitted
Refinancing Indebtedness permitted to be incurred under this Indenture; provided, however, that:

 

17

 

(a)   the new Lien is limited to all or part of the
same property and assets that secured or, under the written agreements pursuant
to which the original Lien arose, could secure the original Lien (plus
improvements and accessions to, such property or proceeds or distributions
thereof); and

 

(b)   the Indebtedness secured by the new Lien is
not increased to any amount greater than the sum of (x) the outstanding
principal amount, or, if greater, committed amount, of the Indebtedness
renewed, refunded, refinanced, replaced, defeased or discharged with such
Permitted Refinancing Indebtedness and (y) an amount necessary to pay any
fees and expenses, including premiums, related to such renewal, refunding,
refinancing, replacement, defeasance or discharge;

 

(13)         Liens in favor of customs and revenue
authorities to secure payment of customs duties in connection with the
importation of goods in the ordinary course of business and other similar Liens
arising in the ordinary course of business;

 

(14)         Liens securing reimbursement
obligations with respect to commercial letters of credit which encumber
documents and other property relating to such letters of credit and products
and proceeds thereof;

 

(15)         Liens upon specific items of inventory
or other goods and proceeds of any Person securing such Person’s obligations in
respect of bankers’ acceptances issued or created for the account of such
Person to facilitate the purchase, shipment or storage of such inventory or
other goods;

 

(16)         leases or subleases granted to third
Persons not interfering with the ordinary course of business of the Company or
any of its Restricted Subsidiaries;

 

(17)         Liens (other than any Lien imposed by
ERISA or any rule or regulation promulgated thereunder) incurred or
deposits made in the ordinary course of business in connection with workers’
compensation, unemployment insurance, and other types of social security;

 

(18)         deposits made in the ordinary course of
business to secure liability to insurance carriers;

 

(19)         Liens under licensing agreements for
use of intellectual property entered into in the ordinary course of business;

 

(20)         judgment Liens not giving rise to an
Event of Default;

 

(21)         Liens on the assets of a Restricted
Subsidiary of the Company that is not a Guarantor securing Indebtedness of that
Restricted Subsidiary; provided
that such Indebtedness was permitted to be incurred under Section 4.09
hereof;

 

(22)         Liens arising out of conditional sale,
title retention, consignment or similar arrangements for the sale of goods
entered into by the Company or any of its Restricted Subsidiaries in the
ordinary course of business;

 

18

 

(23)         Liens solely on any cash earnest money deposits
made by the Company or any of its Restricted Subsidiaries in connection with
any letter of intent or purchase agreement permitted under this Indenture;

 

(24)         Liens arising from Uniform Commercial
Code (or equivalent statute) financing statement filings regarding operating
leases entered into in the ordinary course of business; and

 

(25)         Liens incurred in the ordinary course
of business of the Company or any Restricted Subsidiary of the Company with
respect to obligations that do not exceed $20.0 million at any one time
outstanding.

 

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

 

(1)           the principal amount (or accreted
value, if applicable) of such Permitted Refinancing Indebtedness does not exceed
the principal amount (or accreted value, if applicable) of the Indebtedness
renewed, refunded, refinanced, replaced, defeased or discharged (plus all
accrued interest on the Indebtedness and the amount of all fees and expenses,
including premiums, incurred in connection therewith);

 

(2)           such Permitted Refinancing
Indebtedness has a final maturity date later than or the same as the final
maturity date of, and has a Weighted Average Life to Maturity that is (a) equal
to or greater than the Weighted Average Life to Maturity of, the Indebtedness
being renewed, refunded, refinanced, replaced, defeased or discharged or (b) more
than 90 days after the final maturity date of the Notes;

 

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

 

(4)           such Indebtedness is incurred either
by the Company or by the Restricted Subsidiary who is the obligor on the
Indebtedness being renewed, refunded, refinanced, replaced, defeased or
discharged.

 

“Person” means
any individual, corporation, limited liability company, joint stock company,
joint venture, partnership, limited liability partnership, association,
unincorporated organization, trust, governmental regulatory entity, country,
state, agency or political subdivision thereof, municipality, county, parish or
other entity.

 

“Principals”
means the members of management of the Company or any of the Company’s
Restricted Subsidiaries as of the date hereof.

 

“Related Party”
means

 

(1)           any controlling stockholder, 66 2/3%
or more owned Subsidiary, or immediate family member (in the case of an
individual) of any Principal; or

 

19

 

(2)           any trust, corporation, partnership,
limited liability company or other entity, the beneficiaries, stockholders,
partners, members, owners or Persons beneficially holding a 66 2/3% or more
controlling interest of which consist of any one or more Principals and/or such
other Persons referred to in the immediately preceding clause (1).

 

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

 

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

 

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

 

“SEC” means the
Securities and Exchange Commission.

 

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

 

“Significant Subsidiary”
means any Restricted Subsidiary that would be a “significant subsidiary” as
defined in Article 1, Rule 1-02 of Regulation S-X, promulgated
pursuant to the Securities Act, as such Regulation is in effect on the date of
this Indenture.

 

“Senior Subordinated Note
Indenture” means the indenture relating to the Senior Subordinated
Notes, dated October 14, 2004.

 

“Senior Subordinated Notes”
means the Company’s 12.0% Senior Subordinated Notes due 2016.

 

“Significant Subsidiary”
means any Restricted Subsidiary that would be a “significant subsidiary” as
defined in Article 1, Rule 1-02 of Regulation S-X, promulgated
pursuant to the Securities Act, as such Regulation is in effect on the date
hereof.

 

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

 

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

 

(1)           any corporation, association or other
business entity of which more than 50% of the total voting power of shares of
Capital Stock entitled (without regard to the occurrence of any contingency and
after giving effect to any voting agreement or stockholders’ agreement that
effectively transfers voting power) to vote in the election of directors,
managers or trustees of the corporation, association or other business entity
is at the time owned or controlled, directly or indirectly, by that Person or
one or more of the other Subsidiaries of that Person (or a combination
thereof); and

 

20

 

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

 

“TIA” means the
Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb).

 

“Total Assets”
means the total assets of the Company and its Restricted Subsidiaries on a
consolidated basis, as shown on the most recent balance sheet of the Company.

 

“Transactions”
means the issuance of the Notes and the application of the proceeds therefrom.

 

“Treasury Rate”
means, as of any redemption date, the yield to maturity as of such redemption
date of United States Treasury securities with a constant maturity (as compiled
and published in the most recent Federal Reserve Statistical Release H.15
(519) that has become publicly available at least two business days prior
to the redemption date (or, if such Statistical Release is no longer published,
any publicly available source of similar market data)) most nearly equal to the
period from the redemption date to January 15, 2014; provided, however, that if the period
from the redemption date to January 15, 2014, is less than one year, the
weekly average yield on actually traded United States Treasury securities
adjusted to a constant maturity of one year will be used.

 

“Trustee” means
The Bank of New York Mellon until a successor replaces it in accordance with
the applicable provisions of this Indenture and thereafter means the successor
serving hereunder.

 

“Unrestricted
Subsidiary” means any Subsidiary of the Company that is designated
by the Board of Directors of the Company as an Unrestricted Subsidiary pursuant
to a resolution of the Board of Directors, but only to the extent that such
Subsidiary:

 

(1)           has no Indebtedness other than
Non-Recourse Debt;

 

(2)           except as permitted by Section 4.11
hereof, is not party to any agreement, contract, arrangement or understanding
with the Company or any Restricted Subsidiary of the Company unless the terms
of any such agreement, contract, arrangement or understanding are no less
favorable to the Company or such Restricted Subsidiary than those that might be
obtained at the time from Persons who are not Affiliates of the Company;

 

(3)           is a Person with respect to which
neither the Company nor any of its Restricted Subsidiaries has any direct or
indirect obligation (a) to subscribe for additional Equity Interests or (b) to
maintain or preserve such Person’s financial condition or to cause such Person
to achieve any specified levels of operating results; and

 

(4)           has not guaranteed or otherwise
directly or indirectly provided credit support for any Indebtedness of the
Company or any of its Restricted Subsidiaries.

 

“U.S. Person”
means a U.S. Person as defined in Rule 902(k) promulgated under the
Securities Act.

 

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

 

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

 

21

 

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

 

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

 

Section 1.02             Other Definitions.

 

	
   

  	
   

  	
  Defined in

  	
   

  
	
  Term

  	
   

  	
  Section

  	
   

  
	
  “Affiliate Transaction”

  	
   

  	
  4.11

  	
   

  
	
  “Asset Sale Offer”

  	
   

  	
  3.09

  	
   

  
	
  “Authentication Order”

  	
   

  	
  2.02

  	
   

  
	
  “Change of Control Offer”

  	
   

  	
  4.15

  	
   

  
	
  “Change of Control
  Payment”

  	
   

  	
  4.15

  	
   

  
	
  “Change of Control
  Payment Date”

  	
   

  	
  4.15

  	
   

  
	
  “Covenant Defeasance”

  	
   

  	
  8.03

  	
   

  
	
  “DTC”

  	
   

  	
  2.03

  	
   

  
	
  “Event of Default”

  	
   

  	
  6.01

  	
   

  
	
  “Excess Proceeds”

  	
   

  	
  4.10

  	
   

  
	
  “Incremental Funds”

  	
   

  	
  4.07

  	
   

  
	
  “incur”

  	
   

  	
  4.09

  	
   

  
	
  “Legal Defeasance”

  	
   

  	
  8.02

  	
   

  
	
  “Offer Amount”

  	
   

  	
  3.09

  	
   

  
	
  “Offer Period”

  	
   

  	
  3.09

  	
   

  
	
  “Paying Agent”

  	
   

  	
  2.03

  	
   

  
	
  “Permitted Debt”

  	
   

  	
  4.09

  	
   

  
	
  “Payment Default”

  	
   

  	
  6.01

  	
   

  
	
  “Purchase Date”

  	
   

  	
  3.09

  	
   

  
	
  “Registrar”

  	
   

  	
  2.03

  	
   

  
	
  “Restricted Payments”

  	
   

  	
  4.07

  	
   

  

 

Section 1.03             Incorporation by
Reference of Trust Indenture Act.

 

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

 

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

 

“indenture securities”
means the Notes;

 

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

 

“indenture to be qualified”
means this Indenture;

 

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

 

22

 

“obligor” on the
Notes and the Note Guarantees means the Company and the Guarantors,
respectively, and any successor obligor upon the Notes and the Note Guarantees,
respectively.

 

All other 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:

 

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

 

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

 

(3)           “or” is not exclusive;

 

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

 

(5)           “will” shall be interpreted to
express a command;

 

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

 

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

 

ARTICLE 2

THE NOTES

 

Section 2.01             Form and
Dating.

 

(a)   General. 
The Notes and the Trustee’s certificate of authentication will be
substantially in the form of Exhibit A hereto.  The Notes may have notations, legends or
endorsements required by law, stock exchange rule or usage.  Each Note will be dated the date of its
authentication.  The Notes shall be in
denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

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

 

(b)   Global Notes. 
Notes issued in global form will be substantially in the form of Exhibit A
hereto (including the Global Note Legend thereon and the “Schedule of Exchanges
of Interests in the Global Note” attached thereto).  Notes issued in definitive form will be
substantially in the form of Exhibit A1 hereto (but without the Global
Note Legend thereon and without the “Schedule of Exchanges of Interests in the
Global Note” attached thereto).  Each
Global Note will represent such of the outstanding Notes as will be specified
therein and each shall provide that it represents the aggregate principal
amount of outstanding Notes from time to time endorsed thereon and that the
aggregate principal amount of outstanding Notes represented thereby may from
time to time be reduced or 

 

23

 

increased,
as appropriate, to reflect exchanges and redemptions.  Any endorsement of a Global Note to reflect
the amount of any increase or decrease in the aggregate principal amount of
outstanding Notes represented thereby will be made by the Trustee or the
Custodian, at the direction of the Trustee, in accordance with instructions
given by the Holder thereof as required by Section 2.06 hereof.

 

(c)   Euroclear and Clearstream Procedures Applicable.  The provisions of the “Operating Procedures
of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear”
and the “General Terms and Conditions of Clearstream Banking” and “Customer
Handbook” of Clearstream will be applicable to transfers of beneficial
interests in the Global Notes that are held by Participants through Euroclear
or Clearstream.

 

Section 2.02             Execution and
Authentication.

 

At least one Officer must sign the Notes for the
Company by manual or facsimile signature.

 

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

 

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

 

The Trustee will, upon receipt of a written order of
the Company signed by at least one Officer (an “Authentication Order”),
authenticate Notes for original issue that may be validly issued under this
Indenture, including any Additional Notes up to the aggregate principal amount
stated in paragraph 4 of the Notes.  The
aggregate principal amount of Notes outstanding at any time may not exceed the
aggregate principal amount of Notes authorized for issuance by the Company
pursuant to one or more Authentication Orders, except as provided in Section 2.07
hereof.

 

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

 

Section 2.03             Registrar and
Paying Agent.

 

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

 

The Company initially appoints The Depository Trust
Company (“DTC”) to act as Depository with respect
to the Global Notes.

 

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

 

24

 

Section 2.04             Paying Agent to Hold
Money in Trust.

 

The Company will require each Paying Agent other than
the Trustee to agree in writing that the Paying Agent will hold in trust for
the benefit of Holders or the Trustee all money held by the Paying Agent for
the payment of principal of, premium on, if any, or interest, if any, on, the
Notes, and will notify the Trustee of any default by the Company in making any
such payment.  While any such default
continues, the Trustee may require a Paying Agent to pay all money held by it
to the Trustee.  The Company at any time
may require a Paying Agent to pay all money held by it to the Trustee.  Upon payment over to the Trustee, the Paying
Agent (if other than the Company or a Subsidiary) will have no further
liability for the money.  If the Company
or a Subsidiary acts as Paying Agent, it will segregate and hold in a separate
trust fund for the benefit of the Holders all money held by it as Paying
Agent.  Upon any bankruptcy or
reorganization proceedings relating to the Company, the Trustee will serve as
Paying Agent for the Notes.

 

Section 2.05             Holder Lists.

 

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

 

Section 2.06             Transfer and
Exchange.

 

(a)   Transfer and Exchange of Global Notes.  A Global Note may not be transferred except
as a whole by the Depositary to a nominee of the Depositary, by a nominee of
the Depositary to the Depositary or to another nominee of the Depositary, or by
the Depositary or any such nominee to a successor Depositary or a nominee of
such successor Depositary.  All Global
Notes will be exchanged by the Company for Definitive Notes if:

 

(1)  the Company delivers to the
Trustee notice from the Depositary that it is unwilling or unable to continue
to act as Depositary or that it is no longer a clearing agency registered under
the Exchange Act and, in either case, a successor Depositary is not appointed
by the Company within 120 days after the date of such notice from the
Depositary;

 

(2)  the Company in its sole
discretion determines that the Global Notes (in whole but not in part) should
be exchanged for Definitive Notes and delivers a written notice to such effect
to the Trustee;  or

 

(3)  there has occurred and is
continuing a Default or Event of Default with respect to the Notes.

 

Upon the occurrence of either of the preceding events
in (1) or (2) above, Definitive Notes shall be issued in such names
as the Depositary shall instruct the Trustee. 
Global Notes also may be exchanged or replaced, in whole or in part, as
provided in Sections 2.07 and 2.10 hereof. 
Every Note authenticated and delivered in exchange for, or in lieu of, a
Global Note or any portion thereof, pursuant to this Section 2.06 or Section 2.07
or 2.10 hereof, shall be authenticated and delivered in the form of, and shall
be, a Global Note.  A Global Note may not
be exchanged for another Note other than as provided in this Section 2.06(a),
however, beneficial interests in a Global Note may be transferred and exchanged
as provided in Section 2.06(b) or (c) hereof.

 

25

 

(b)   Transfer and Exchange of Beneficial Interests in the Global Notes.  The transfer and exchange of beneficial
interests in the Global Notes will be effected through the Depositary, in
accordance with the provisions of this Indenture and the Applicable
Procedures.  Beneficial interests in any
Global Note may be transferred to Persons who take delivery thereof in the form
of a beneficial interest in a Global Note. 
No written orders or instructions shall be required to be delivered to
the Registrar to effect the transfers described in this Section 2.06(b).

 

(c)   Transfer and Exchange of Beneficial Interests for Definitive
Notes.  If any holder of a
beneficial interest in a Global Note proposes to exchange such beneficial interest
for a Definitive Note or to transfer such beneficial interest to a Person who
takes delivery thereof in the form of a Definitive Note, the Trustee will cause
the aggregate principal amount of the applicable Global Note to be reduced
accordingly pursuant to Section 2.06(g) hereof, and the Company will
execute and the Trustee will authenticate and deliver to the Person designated
in the instructions a Definitive Note in the appropriate principal amount.  Any Definitive Note issued in exchange for a
beneficial interest pursuant to this Section 2.06(c) will be
registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest requests through
instructions to the Registrar from or through the Depositary and the
Participant or Indirect Participant.

 

(d)   Transfer and Exchange of Definitive Notes for Beneficial
Interests.  A Holder of
a Definitive Note may exchange such Note for a beneficial interest in a Global
Note or transfer such Definitive Notes to a Person who takes delivery thereof
in the form of a beneficial interest in a Global Note at any time.  Upon receipt of a request for such an
exchange or transfer, the Trustee will cancel the applicable Definitive Note
and increase or cause to be increased the aggregate principal amount of one of
the Global Notes.

 

(e)   Transfer and Exchange of Definitive Notes for Definitive Notes.  Upon request by a Holder of Definitive Notes
and such Holder’s compliance with the provisions of this Section 2.06(e),
the Registrar will register the transfer or exchange of Definitive Notes.  Prior to such registration of transfer or
exchange, the requesting Holder must present or surrender to the Registrar the
Definitive Notes duly endorsed or accompanied by a written instruction of
transfer in form satisfactory to the Registrar duly executed by such Holder or
by its attorney, duly authorized in writing. 
A Holder of Definitive Notes may transfer such Notes to a Person who
takes delivery thereof in the form of a Definitive Note.

 

(f)    Legends. 
Each Global Note will bear a legend in substantially the following form:

 

“THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS
DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE
BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON
UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH
NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE
INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT
TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE
DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE
INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR
DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF B&G FOODS, INC.

 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A
WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE
DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A 

 

26

 

NOMINEE OF SUCH SUCCESSOR DEPOSITARY.  UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW
YORK, NEW YORK) (“DTC”), TO THE COMPANY 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 MAY BE REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &
CO. OR SUCH OTHER ENTITY AS MAY BE 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.”

 

(g)   Cancellation and/or Adjustment of Global Notes.  At such time as all beneficial interests in a
particular Global Note have been exchanged for Definitive Notes or a particular
Global Note has been redeemed, repurchased or canceled in whole and not in
part, each such Global Note will be returned to or retained and canceled by the
Trustee in accordance with Section 2.11 hereof.  At any time prior to such cancellation, if
any beneficial interest in a Global Note is exchanged for or transferred to a
Person who will take delivery thereof in the form of a beneficial interest in
another Global Note or for Definitive Notes, the principal amount of Notes
represented by such Global Note will be reduced accordingly and an endorsement
will be made on such Global Note by the Trustee or by the Depositary at the
direction of the Trustee to reflect such reduction; and if the beneficial
interest is being exchanged for or transferred to a Person who will take
delivery thereof in the form of a beneficial interest in another Global Note,
such other Global Note will be increased accordingly and an endorsement will be
made on such Global Note by the Trustee or by the Depositary at the direction
of the Trustee to reflect such increase.

 

(h)   General
Provisions Relating to Transfers and Exchanges.

 

(1)  To permit registrations of
transfers and exchanges, the Company will execute and the Trustee will
authenticate Global Notes and Definitive Notes upon receipt of an
Authentication Order in accordance with Section 2.02 hereof or at the
Registrar’s request.

 

(2)  No service charge will be
made to a Holder of a beneficial interest in a Global Note or to a Holder of a
Definitive Note for any registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or similar
governmental charge payable in connection therewith (other than any such
transfer taxes or similar governmental charge payable upon exchange or transfer
pursuant to Sections 2.10, 3.06, 3.09, 4.10, 4.15 and 9.05 hereof).

 

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

 

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

 

(5)  Neither the Registrar nor
the Company will be required:

 

(A)  to issue, to register the transfer of or to
exchange any Notes during a period beginning at the opening of business 15 days
before the day of any selection of Notes for 

 

27

 

redemption under Section 3.02
hereof and ending at the close of business on the day of selection;

 

(B)   to register the transfer of or to exchange
any Note selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part; or

 

(C)   to register the transfer of or to exchange a
Note between a record date and the next succeeding interest payment date.

 

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

 

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

 

(8)  All certifications,
certificates and Opinions of Counsel required to be submitted to the Registrar
pursuant to this Section 2.06 to effect a registration of transfer or
exchange may be submitted by facsimile.

 

Section 2.07             Replacement Notes.

 

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

 

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

 

Section 2.08             Outstanding Notes.

 

The Notes outstanding at any time are all the Notes
authenticated by the Trustee except for those canceled by it, those delivered
to it for cancellation, those reductions in the interest in a Global Note
effected by the Trustee in accordance with the provisions hereof, and those
described in this Section 2.08 as not outstanding.  Except as set forth in Section 2.09
hereof, a Note does not cease to be outstanding because the Company or an
Affiliate of the Company holds the Note.

 

If a Note is replaced pursuant to Section 2.07
hereof, it ceases to be outstanding unless the Trustee receives proof
satisfactory to it that the replaced Note is held by a protected purchaser.

 

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

 

28

 

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

 

Section 2.09             Treasury Notes.

 

In determining whether the Holders of the required
principal amount of Notes have concurred in any direction, waiver or consent,
Notes owned by the Company or any Guarantor, or by any Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with the Company or any Guarantor, will be considered as though not
outstanding, except that for the purposes of determining whether the Trustee
will be protected in relying on any such direction, waiver or consent, only
Notes that a Responsible Officer of the Trustee actually knows are so owned
will be so disregarded.

 

Section 2.10             Temporary Notes.

 

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

 

Holders of temporary Notes will be entitled to all of
the benefits of this Indenture.

 

Section 2.11             Cancellation.

 

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

 

Section 2.12             Defaulted Interest.

 

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

 

29

 

ARTICLE 3

REDEMPTION AND PREPAYMENT

 

Section 3.01             Notices to Trustee.

 

If the Company elects to redeem Notes pursuant to the
optional redemption provisions of Section 3.07 hereof, it must furnish to
the Trustee, at least 45 days but not more than 60 days before a redemption
date, an Officers’ Certificate setting forth:

 

(1)  the clause of this
Indenture pursuant to which the redemption shall occur;

 

(2)  the redemption date;

 

(3)  the principal amount of
Notes to be redeemed; and

 

(4)  the redemption price.

 

Section 3.02             Selection of Notes
to Be Redeemed or Purchased.

 

(a)   If less than
all of the Notes are to be redeemed or purchased in an offer to purchase at any
time, the Trustee will select Notes for redemption on a pro rata
basis (or, in the case of Notes issued in global form pursuant to Article 2
hereof, based on a method that most nearly approximates a pro rata
selection as the Trustee may deem appropriate) unless otherwise required by law
or applicable stock exchange or depositary requirements.

 

(b)   No Notes of
$2,000 or less can be redeemed in part. 
In the event of partial redemption or purchase by lot, the particular
Notes to be redeemed or purchased will be selected, unless otherwise provided
herein, not less than 30 nor more than 60 days prior to the redemption or
purchase date by the Trustee from the outstanding Notes not previously called
for redemption or purchase.

 

(c)   The Trustee
will promptly notify the Company in writing of the Notes selected for
redemption or purchase and, in the case of any Note selected for partial
redemption or purchase, the principal amount thereof to be redeemed or
purchased.  Notes and portions of Notes
selected will be in amounts of $2,000 or whole multiples of $1,000 in excess
thereof; except that if all of the Notes of a Holder are to be redeemed or
purchased, the entire outstanding amount of Notes held by such Holder, shall be
redeemed or purchased.  Except as
provided in the preceding sentence, provisions of this Indenture that apply to
Notes called for redemption or purchase also apply to portions of Notes called
for redemption or purchase.

 

Section 3.03             Notice of
Redemption.

 

Subject to the provisions of Section 3.09 hereof,
at least 30 days but not more than 60 days before a redemption date, the
Company will mail or cause to be mailed, by first class mail, a notice of
redemption to each Holder whose Notes are to be redeemed at its registered
address, except that redemption notices may be mailed more than 60 days prior
to a redemption date if the notice is issued in connection with a defeasance of
the Notes or a satisfaction and discharge of this Indenture pursuant to
Articles 8 or 11 hereof.

 

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

 

(1)  the redemption date;

 

30

 

(2)  the redemption price;

 

(3)  if any Note is being
redeemed in part, the portion of the principal amount of such Note to be
redeemed and that, after the redemption date upon surrender of such Note, a new
Note or Notes in principal amount equal to the unredeemed portion will be
issued upon cancellation of the original Note;

 

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

 

(5)  that Notes called for
redemption must be surrendered to the Paying Agent to collect the redemption
price;

 

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

 

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

 

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

 

At the Company’s request, the Trustee will give the
notice of redemption in the Company’s name and at its expense; provided, however, that the Company has delivered to the
Trustee, at least 15 days prior to the date of the requested submission of the
notice, an Officers’ Certificate requesting that the Trustee give such notice
and setting forth the information to be stated in such notice as provided in
the preceding paragraph.

 

Section 3.04             Effect of Notice of
Redemption.

 

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

 

Section 3.05             Deposit of
Redemption or Purchase Price.

 

One Business Day prior to the redemption or purchase
date, the Company will deposit with the Trustee or with the Paying Agent prior
to 10:00 A.M. Eastern Time money sufficient to pay the redemption or
purchase price of and accrued interest on all Notes to be redeemed or purchased
on that date.  The Trustee or the Paying
Agent will promptly return to the Company any money deposited with the Trustee
or the Paying Agent by the Company in excess of the amounts necessary to pay
the redemption or purchase price of, and accrued interest on, all Notes to be
redeemed or purchased.

 

If the Company complies with the provisions of the
preceding paragraph, on and after the redemption or purchase date, interest
will cease to accrue on the Notes or the portions of Notes called for
redemption or purchase.  If a Note is
redeemed or purchased on or after an interest record date but on or prior to
the related interest payment date, then any accrued and unpaid interest shall
be paid to the Person in whose name such Note was registered at the close of
business on such record date.  If any
Note called for redemption or purchase is not so paid upon surrender for
redemption or purchase because of the failure of the Company to comply with the
preceding paragraph, interest shall be paid on the unpaid principal, from the
redemption or purchase date until such principal is paid, and to the extent
lawful on 

 

31

 

any interest not paid on
such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01
hereof.

 

Section 3.06             Notes Redeemed or Purchased
in Part.

 

Upon surrender of a Note that is redeemed or purchased
in part, the Company will issue and, upon receipt of an Authentication Order,
the Trustee will authenticate for the Holder at the expense of the Company a
new Note equal in principal amount to the unredeemed or unpurchased portion of
the Note surrendered.

 

Section 3.07             Optional
Redemption.

 

(a)   At any time
prior to January 15, 2013, the Company may on any one or more occasions
redeem up to 35% of the aggregate principal amount of Notes issued under this
Indenture (including Additional Notes, if any), upon not less than 30 nor more
than 60 days’ notice at a redemption price equal to 107.625% of the principal
amount, plus accrued and unpaid interest, if any, to the redemption date, (subject
to the rights of Holders of Notes on the relevant record date to receive
interest on the relevant interest payment date) with the net cash proceeds of
one or more Equity Offerings of the Company; provided
that:

 

(1)  at least 65% of the
aggregate principal amount of Notes originally issued under this Indenture
(excluding Notes held by the Company and its Subsidiaries) remains outstanding
immediately after the occurrence of such redemption; and

 

(2)  the redemption occurs
within 90 days of the date of the closing of such Equity Offering.

 

(b)   At any time
prior to January 15, 2014, B&G Foods may on any one or more occasions
redeem all or a part of the notes, upon not less than 30 nor more than
60 days’ notice, at a redemption price equal to 100% of the principal
amount of the notes redeemed, plus the Applicable Premium as of, and accrued
and unpaid interest, if any, to the date of redemption, subject to the rights
of holders of notes on the relevant record date to receive interest due on the
relevant interest payment date.

 

(c)   Except
pursuant to the preceding paragraphs of this Section 3.07, the Notes will
not be redeemable at the Company’s option prior to January 15, 2014.

 

(d)   On or after January 15,
2014, the Company may on any one or more occasions redeem all or a part of the
Notes, upon not less than 30 nor more than 60 days’ notice, at the redemption
prices (expressed as percentages of principal amount) set forth below plus
accrued and unpaid interest on the Notes redeemed, to the applicable redemption
date, if redeemed during the twelve-month period beginning on January 15
of the years indicated below, subject to the rights of Holders of Notes on the
relevant record date to receive interest on the relevant interest payment date:

 

	
  Year

  	
   

  	
  Percentage

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  2014

  	
   

  	
  103.813

  	
  %

  
	
  2015

  	
   

  	
  102.542

  	
  %

  
	
  2016

  	
   

  	
  101.271

  	
  %

  
	
  2017 and thereafter

  	
   

  	
  100.000

  	
  %

  

 

32

 

Unless the Company defaults in the payment of the
redemption price, interest will cease to accrue on the Notes or portions
thereof called for redemption on the applicable redemption date.

 

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

 

Section 3.08             Mandatory
Redemption.

 

The Company is not required to make mandatory
redemption or sinking fund payments with respect to the Notes.

 

Section 3.09             Offer to Purchase
by Application of Excess Proceeds.

 

In the event that, pursuant to Section 4.10
hereof, the Company is required to commence an offer to all Holders to purchase
Notes (an “Asset Sale Offer”), it will follow the
procedures specified below.

 

The Asset Sale Offer shall be made to all Holders and
all holders of other Indebtedness that is pari passu with
the Notes containing provisions similar to those set forth in this Indenture
with respect to offers to purchase, prepay or redeem with the proceeds of sales
of assets.  The Asset Sale Offer will
remain open for a period of at least 20 Business Days following its
commencement and not more than 30 Business Days, except to the extent that a
longer period is required by applicable law (the “Offer Period”).  No later than three Business Days after the
termination of the Offer Period (the “Purchase Date”),
the Company will apply all Excess Proceeds (the “Offer Amount”) to
the purchase of Notes and such other pari passu
Indebtedness (on a pro rata basis
based on the principal amount of notes and such other pari passu
Indebtedness surrendered, if applicable) or, if less than the Offer Amount has
been tendered, all Notes and other Indebtedness tendered in response to the
Asset Sale Offer.  Payment for any Notes
so purchased will be made in the same manner as interest payments are made.

 

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

 

Upon the commencement of an Asset Sale Offer, the
Company will send, by first class mail, a notice to the Trustee and each of the
Holders, with a copy to the Trustee.  The
notice will contain all instructions and materials necessary to enable such
Holders to tender Notes pursuant to the Asset Sale Offer.  The notice, which will govern the terms of
the Asset Sale Offer, will state:

 

(1)  that the Asset Sale Offer
is being made pursuant to this Section 3.09 and Section 4.10 hereof
and the length of time the Asset Sale Offer will remain open;

 

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

 

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

 

(4)  that, unless the Company
defaults in making such payment, any Note accepted for payment pursuant to the
Asset Sale Offer will cease to accrue interest after the Purchase Date;

 

(5)  that Holders electing to
have a Note purchased pursuant to an Asset Sale Offer may elect to have Notes
purchased in denominations of $2,000 or an integral multiple of $1,000 in
excess thereof;

 

33

 

(6)  that Holders electing to
have Notes purchased pursuant to any Asset Sale Offer will be required to
surrender the Note, with the form entitled “Option of Holder to Elect Purchase”
attached to the Notes completed, or transfer by book-entry transfer, to the
Company, a Depositary, if appointed by the Company, or a Paying Agent at the
address specified in the notice at least three days before the Purchase Date;

 

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

 

(8)  that, if the aggregate
principal amount of Notes and other pari passu
Indebtedness surrendered by holders thereof exceeds the Offer Amount, the
Company will select the Notes and other pari passu
Indebtedness to be purchased on a pro rata
basis based on the principal amount of Notes and such other pari passu Indebtedness surrendered (with such adjustments
as may be deemed appropriate by the Company so that only Notes in denominations
of $2,000, or an integral multiple of $1,000 in excess thereof, will be
purchased); and

 

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

 

On or before the Purchase Date, the Company will, to
the extent lawful, accept for payment, on a pro
rata basis to the extent necessary, the Offer Amount of Notes or
portions thereof tendered pursuant to the Asset Sale Offer, or if less than the
Offer Amount has been tendered, all Notes tendered, and will deliver or cause
to be delivered to the Trustee the Notes properly accepted together with an
Officers’ Certificate stating that such Notes or portions thereof were accepted
for payment by the Company in accordance with the terms of this Section 3.09.
 The Company, the Depositary or the
Paying Agent, as the case may be, will promptly (but in any case not later than
three Business Days after the Purchase Date) mail or deliver to each tendering
Holder an amount equal to the purchase price of the Notes tendered by such
Holder and accepted by the Company for purchase, and the Company will promptly
issue a new Note, and the Trustee, upon written request from the Company, will
authenticate and mail or deliver (or cause to be transferred by book entry)
such new Note to such Holder, in a principal amount equal to any unpurchased
portion of the Note surrendered.  Any
Note not so accepted shall be promptly mailed or delivered by the Company to
the Holder thereof.  The Company will
publicly announce the results of the Asset Sale Offer on the Purchase Date.

 

Other than as specifically provided in this Section 3.09,
any purchase pursuant to this Section 3.09 shall be made pursuant to the
provisions of Sections 3.01 through 3.06 hereof.

 

ARTICLE 4

COVENANTS

 

Section 4.01             Payment of Notes.

 

The Company will pay or cause to be paid the principal
of, premium, if any, and interest on, the Notes on the dates and in the manner
provided in the Notes.  Principal,
premium, if any, and interest will be considered paid on the date due if the
Paying Agent, if other than the Company or a Subsidiary thereof, holds as of
10:00 a.m. Eastern Time on the due date money deposited by the Company in
immediately 

 

34

 

available funds and
designated for and sufficient to pay all principal, premium, if any, and
interest then due.

 

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

 

Section 4.02             Maintenance of
Office or Agency.

 

The Company will maintain in the Borough of Manhattan,
the City of New York, an office or agency (which may be an office of the
Trustee or an affiliate of the Trustee, Registrar or co-registrar) where Notes
may be surrendered for registration of transfer or for exchange and where
notices and demands to or upon the Company in respect of the Notes and this
Indenture may be served.  The Company
will give prompt written notice to the Trustee of the location, and any change
in the location, of such office or agency. 
If at any time the Company fails to maintain any such required office or
agency or fails to furnish the Trustee with the address thereof, such
presentations, surrenders, notices and demands may be made or served at the
Corporate Trust Office of the Trustee.

 

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

 

The Company hereby designates the Corporate Trust
Office of the Trustee as one such office or agency of the Company in accordance
with Section 2.03 hereof.

 

Section 4.03             Reports.

 

(a)   Whether or
not required by the rules and regulations of the SEC, so long as any Notes
are outstanding, the Company will furnish to the Holders of Notes or cause the
Trustee to furnish to the Holders of Notes, within the time periods specified
in the SEC’s rules and regulations:

 

(1)  all quarterly and annual
reports that would be required to be filed with the SEC on Forms 10-Q and 10-K
if the Company were required to file reports; and

 

(2)  all current reports that
would be required to be filed with the SEC on Form 8-K if the Company were
required to file such reports:

 

provided, however,
that the availability of the foregoing materials on the SEC’s EDGAR service or
on the Company’s website shall be deemed to satisfy the Company’s delivery
obligations under this Section 4.03(a).

 

All such reports will be prepared in all material
respects in accordance with all of the rules and regulations applicable to
such reports.  Each annual report on Form 10-K
will include a report on the Company’s consolidated financial statements by the
Company’s independent registered public accounting firm. In addition, the
Company will file a copy of each of the reports referred to in clauses (1) and
(2) above with the SEC for public availability within the time periods
specified in the rules and regulations 

 

35

 

applicable to such
reports (unless the SEC will not accept such a filing) and will make such
information available to securities analysts and prospective investors upon
request.  The Company will at all times
comply with TIA § 3.14(a).

 

If at any time, the Company is no longer subject to
the periodic reporting requirements of the Exchange Act for any reason, the
Company will nevertheless continue filing the reports specified in the
preceding paragraphs of this Section 4.03(a) with the SEC within the
time periods specified above unless the SEC will not accept such a filing.  The Company will not take any action for the
purpose of causing the SEC not to accept any such filings.  If, notwithstanding the foregoing, the SEC
will not accept the Company’s filings for any reason,  the Company will post the reports referred to
in the preceding paragraphs on its website within the time periods that would
apply if the Company were required to file those reports with the SEC.

 

(b)   If the
Company has designated any of its Subsidiaries as Unrestricted Subsidiaries,
then the quarterly and annual financial information required by paragraph (a) of
this Section 4.03 will include a reasonably detailed presentation, either
on the face of the financial statements or in the footnotes thereto, and in
Management’s Discussion and Analysis of Financial Condition and Results of
Operations, of the financial condition and results of operations of the Company
and its Restricted Subsidiaries separate from the financial condition and
results of operations of the Unrestricted Subsidiaries of the Company

 

Delivery of such reports, information and documents to
the Trustee pursuant to this Section 4.03 is for informational purposes
only and the Trustee’s receipt of such shall not constitute constructive notice
of any information contained therein or determinable from information contained
therein, including the Company’s compliance with any of its covenants hereunder
(as to which the Trustee is entitled to rely exclusively on an Officer’s
Certificate).

 

Section 4.04             Compliance
Certificate.

 

(a)   The Company
and each Guarantor (to the extent that such Guarantor is so required under the
TIA) shall deliver to the Trustee, within 90 days after the end of each fiscal
year, an Officers’ Certificate stating that a review of the activities of the
Company and its Subsidiaries during the preceding fiscal year has been made
under the supervision of the signing Officers with a view to determining
whether the Company has kept, observed, performed and fulfilled its obligations
under this Indenture, and further stating, as to each such Officer signing such
certificate, that to the best of his or her knowledge the Company 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 of this Indenture (or, if a Default or Event
of Default has occurred, describing all such Defaults or Events of Default of
which he or she may have knowledge and what action the Company is taking or
proposes to take with respect thereto) and that to the best of his or her
knowledge no event has occurred and remains in existence by reason of which
payments on account of the principal of, premium on, if any, or interest, if
any, on, the Notes is prohibited or if such event has occurred, a description
of the event and what action the Company is taking or proposes to take with
respect thereto.

 

(b)   So long as
not contrary to the then current recommendations of the American Institute of
Certified Public Accountants, the year-end financial statements delivered
pursuant to Section 4.03 above shall be accompanied by a written statement
of the Company’s independent public accountants (who shall be a firm of
established national reputation) that in making the examination necessary for
certification of such financial statements, nothing has come to their attention
that would lead them to believe that the Company has violated any provisions of
Article 4 or Article 5 hereof or, if any such violation has occurred,
specifying the nature and period of existence thereof, it being understood that
such accountants 

 

36

 

shall
not be liable directly or indirectly to any Person for any failure to obtain
knowledge of any such violation.

 

(c)   So long as
any of the Notes are outstanding, the Company will deliver to the Trustee,
forthwith (and in any event within 10 days) upon any Officer becoming aware of
any Default or Event of Default, an Officers’ Certificate specifying such
Default or Event of Default and what action the Company is taking or proposes
to take with respect thereto.

 

Section 4.05             Taxes.

 

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

 

Section 4.06             Stay, Extension and
Usury Laws.

 

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

 

Section 4.07             Restricted Payments.

 

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

 

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

 

(2) purchase, redeem or
otherwise acquire or retire for value (including, without limitation, in
connection with any merger or consolidation involving the Company) any Equity
Interests (other than any such Equity Interest owned by a wholly owned
Restricted Subsidiary of the Company) of the Company or any direct or indirect
parent of the Company;

 

(3) make any payment on or with
respect to, or purchase, redeem, defease or otherwise acquire or retire for
value any Indebtedness of the Company or any Guarantor that is contractually
subordinated to the Notes or to any Note Guarantee (excluding any intercompany
Indebtedness between or among the Company and any of its Restricted
Subsidiaries), except a payment of interest or principal at the Stated Maturity
thereof; or

 

37

 

(4) make any Restricted
Investment (all such payments and other actions set forth in these clauses (1) through
(4) being collectively referred to as “Restricted Payments”),

 

unless, at the time of and after giving effect to such Restricted
Payment, no Default or Event of Default has occurred and is continuing or would
occur as a consequence of such Restricted Payment and:

 

(1) if the Fixed Charge Coverage
Ratio for the Company’s four most recent fiscal quarters for which internal
financial statements are available is not less than 1.6 to 1.0, such Restricted
Payment, together with the aggregate amount of all other Restricted Payments
made by the Company and its Restricted Subsidiaries since the date hereof
(except for Restricted Payments made pursuant to Section 4.07(b)(1) (so
long as such Restricted Payment was previously included for purposes of this
calculation (to the extent required to be so included) at the time of its declaration),
4.07(b)(2), 4.07(b)(3), 4.07(b)(4), 4.07(b)(6), 4.07(b)(7), 4.07(b)(8),
4.07(b)(9), 4.07(b)(10), 4.07(b)(11) or 4.07(b)(12) below, is less than the
sum, without duplication of:

 

(a)   Excess Cash of the Company for the period
(taken as one accounting period) from the beginning of the fiscal quarter
beginning after the date hereof to the end of the Company’s most recently ended
fiscal quarter for which internal financial statements are available at the
time of such Restricted Payment; plus

 

(b)   100% of the aggregate net cash proceeds
received by the Company since the date of this Indenture as a contribution to
its common equity capital or from the issue or sale of Equity Interests of the
Company (other than Disqualified Stock) or from the issue or sale of
convertible or exchangeable Disqualified Stock or convertible or exchangeable
debt securities of the Company that have been converted into or exchanged for
such Equity Interests (other than Equity Interests (or Disqualified Stock or
debt securities) sold to a Subsidiary of the Company); plus

 

(c)   100% of the
Fair Market Value as of the date of issuance of any Equity Interests (other
than Disqualified Stock) issued since the date of this indenture by the Company
as consideration for the purchase by the Company or any of its Restricted
Subsidiaries of all or substantially all of the assets of, or a majority of the
Voting Stock of, another Permitted Business (including by means of a merger,
consolidation or other business combination permitted under this Indenture); plus

 

(d)   to the extent that any Restricted Investment
that was made after the date of this Indenture is sold for cash or other
property or otherwise liquidated or repaid for cash, the lesser of (i) the
cash return of capital with respect to such Restricted Investment or the Fair
Market Value of such other property (less the cost of disposition, if any) and (ii) the
initial amount of such Restricted Investment; plus

 

(e)   to the extent that any Unrestricted
Subsidiary of the Company designated as such after the date of this Indenture
is redesignated as a Restricted Subsidiary after the date of this Indenture or
merges or consolidates with or into, or is liquidated into, the Company or any
of its Restricted Subsidiaries, the lesser of (i) the Fair Market Value of
the Company’s Investment in such Subsidiary as of the date of such
redesignation or (ii) such Fair Market Value as of the date on which such
Subsidiary was originally designated as an Unrestricted Subsidiary after the
date of this Indenture.

 

(b)   The
preceding provisions will not prohibit:

 

38

 

(1) the payment of any dividend
or the consummation of any irrevocable redemption within 60 days after the date
of declaration of the dividend or giving of the redemption notice, as the case
may be, if at the date of declaration or notice, the dividend or redemption
payment would have complied with the provisions of this Indenture;

 

(2) the making of any Restricted
Payment in exchange for, or out of the net cash proceeds of the sale within 10
Business Days (other than to a Subsidiary of the Company) of, Equity Interests
of the Company (other than Disqualified Stock) or from the contribution of
common equity capital to the Company within 10 Business Days; provided that the amount of any such net
cash proceeds that are utilized for any such Restricted Payment will be
excluded from clause (b) of the second paragraph (1) of Section 4.07(a);

 

(3) the repurchase, redemption,
defeasance or other acquisition or retirement for value of Indebtedness of the
Company or any Guarantor that is contractually subordinated to the Notes or to
any Note Guarantee with the net cash proceeds from an incurrence of Permitted
Refinancing Indebtedness or issuance of Disqualified Stock permitted to be
issued by Section 4.09 hereof within 10 Business Days from such incurrence
or issuance;

 

(4) the payment of any dividend
(or, in the case of any partnership or limited liability company, any similar
distribution) by a Restricted Subsidiary of the Company to the holders of its
Equity Interests on a pro rata basis;

 

(5) so long as
no Default has occurred and is continuing or would be caused thereby, the
repurchase, redemption or other acquisition or retirement for value of any
Equity Interests of the Company or any Restricted Subsidiary of the Company
held by any current or former officer, director or employee of the Company or
any of its Restricted Subsidiaries pursuant to any equity subscription
agreement, stock option plan or any other management or employee benefit plan
or agreement, shareholders’ agreement or similar agreement; provided that the aggregate price paid for
all such repurchased, redeemed, acquired or retired Equity Interests may not
exceed $10.0 million in any calendar year (provided that
the Company may carry over and make in a subsequent calendar year, commencing
with 2010, in addition to the amounts permitted for such calendar year, up to
$2.0 million of unutilized capacity under this clause (5) attributable to
the immediately preceding calendar year; provided,
further, that such amount in any calendar year may be increased by
an amount not to exceed the cash proceeds received by the Company or any of its
Restricted Subsidiaries (to the extent contributed to the Company) from sales
of Equity Interests (other than Disqualified Stock) of the Company to officers,
directors or employees of the Company or any of its Restricted Subsidiaries
that occur after the date of this Indenture (provided
that the amount of such cash proceeds used for any such repurchase, redemption,
acquisition or retirement will not increase the amount available for Restricted
Payments under clause (b) of the second paragraph (1) of Section 4.07(a) 
hereof and provided that the
Company may elect to apply all or any portion of the aggregate increase
contemplated by this proviso in any calendar year); provided, further, that cancellation of Indebtedness owing
to the Company from members of management of the Company or any Restricted
Subsidiary in connection with a repurchase of Equity Interests of the Company
will not be deemed to constitute a Restricted Payment;

 

(6) the repurchase of Equity
Interests deemed to occur upon the exercise of stock options to the extent such
Equity Interests represent a portion of the exercise price of those stock
options;

 

(7) so long as no Default has
occurred and is continuing or would be caused thereby, the declaration and
payment of regularly scheduled or accrued dividends to holders of any class or 

 

39

 

series of Disqualified Stock of the Company or any Restricted
Subsidiary of the Company issued on or after the date of this Indenture in
accordance with Section 4.09 hereof;

 

(8) so long as no Default has
occurred and is continuing or would be caused thereby, upon the occurrence of
an Asset Sale or a Change of Control and within 60 days after the completion of
the related Asset Sale or Change of Control Offer, any purchase or redemption
of Indebtedness of the Company or any Guarantor that is contractually
subordinated to the Notes or to any Note Guarantee required pursuant to the
terms thereof as a result of such Change of Control at a purchase or redemption
price not to exceed 101% of the outstanding principal amount thereof, plus accrued
and unpaid interest thereon, if any; provided,
however, that such purchase or
redemption is not made, directly or indirectly, from the proceeds of (or made
in anticipation of) any issuance of Indebtedness by the Company or any of its
Restricted Subsidiaries;

 

(9) payments of dividends to the
Company solely to enable it to make payments to holders of its Capital Stock in
lieu of the issuance of fractional shares of its Capital Stock;

 

(10) the acquisition of any
shares of Disqualified Stock of the Company in exchange for other shares of
Disqualified Stock of the Company or with the net cash proceeds from an
issuance of Disqualified Stock by the Company within 10 Business Days of such
issuance, in each case that is permitted to be issued under Section 4.09
hereof;

 

(11) the repurchase, redemption,
defeasance or other acquisition or retirement for value of the 2011 Senior
Notes and/or the Senior Subordinated Notes, including any call premium paid in
connection therewith; and

 

(12) so long as no Default has occurred
and is continuing or would be caused thereby, other Restricted Payments in an
aggregate amount not to exceed $40.0 million since the date hereof.

 

(c)   For purposes
of this Section 4.07, the amount of all Restricted Payments (other than
cash) will be the Fair Market Value on the date of the Restricted Payment of
the asset(s) or securities proposed to be transferred or issued by the
Company or such Restricted Subsidiary, as the case may be, pursuant to the
Restricted Payment.  The Fair Market
Value of any assets or securities that are required to be valued by Section 4.07
will be determined by the Board of Directors of the Company if the Fair Market
Value exceeds $10.0 million whose resolution with respect thereto will be
delivered to the Trustee.  For purposes
of determining compliance with Section 4.07, in the event that a
Restricted Payment meets the criteria of more than one of the exceptions
described in Section 4.07(b) or is entitled to be made pursuant to Section 4.07(a) hereof,
the Company will be permitted, in its sole discretion, to classify the
Restricted Payment, or later reclassify the Restricted Payment, in any manner
that complies with Section 4.07.

 

Section 4.08             Dividend and Other
Payment Restrictions Affecting Restricted Subsidiaries.

 

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

 

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

 

40

 

(2) make loans or advances to
the Company or any of its Restricted Subsidiaries; or

 

(3) transfer any of its
properties or assets to the Company or any of its Restricted Subsidiaries.

 

(b)   However, the
preceding restrictions in Section 4.08(a) hereof will not apply to
encumbrances or restrictions existing under or by reason of:

 

(1) agreements governing
Existing Indebtedness and any other agreement, including the Credit Agreement,
the 2011 Senior Notes Indenture and the Senior Subordinated Note Indenture, as
in effect on the date of this Indenture and any amendments, restatements,
modifications, renewals, increases, supplements, refundings, replacements or
refinancings of those agreements; provided that
the amendments, restatements, modifications, renewals, increases, supplements,
refundings, replacements or refinancings are not materially more restrictive,
taken as a whole, with respect to such dividend and other payment restrictions
than those contained in those agreements on the date of this Indenture;

 

(2) this Indenture, the Notes
and the Note Guarantees;

 

(3) applicable law, rule,
regulation or order;

 

(4) any instrument governing
Indebtedness or Capital Stock of a Person acquired by the Company or any of its
Restricted Subsidiaries as in effect at the time of such acquisition (except to
the extent such Indebtedness or Capital Stock was incurred in connection with
or in contemplation of such acquisition), which encumbrance or restriction is
not applicable to any Person, or the properties or assets of any Person, other
than the Person, or the property or assets of the Person, so acquired; provided that, in the case of Indebtedness, such
Indebtedness was permitted by the terms of this Indenture to be incurred;

 

(5) customary non-assignment
provisions in contracts, licenses and other commercial agreements entered into
in the ordinary course of business;

 

(6) purchase money obligations
for property acquired in the ordinary course of business and Capital Lease
Obligations that impose restrictions on the property purchased or leased of the
nature described in clause (3) of Section 4.08(a) hereof;

 

(7) any agreement for the sale
or other disposition of all or substantially all of the Capital Stock or assets
of a Restricted Subsidiary that restricts distributions by that Restricted
Subsidiary pending its sale or other disposition;

 

(8) Permitted Refinancing
Indebtedness; provided that the encumbrances or
restrictions contained in the agreements governing such Permitted Refinancing
Indebtedness are, in the good faith judgment of the senior management or Board
of Directors of the Company, not materially more restrictive, taken as a whole,
than those contained in the agreements governing the Indebtedness being
refinanced;

 

(9) Any restriction on the
transfer of assets under any Lien permitted under this Indenture imposed by the
holder of the Lien;

 

(10) provisions limiting the
disposition or distribution of assets or property in joint venture agreements,
asset sale agreements, sale-leaseback agreements, stock sale agreements and 

 

41

 

other similar agreements entered into in the ordinary course
of business or with the approval of the Company’s Board of Directors, which
limitation is applicable only to the assets that are the subject of such
agreements; and

 

(11) restrictions on cash or other
deposits or net worth imposed by customers under contracts entered into in the
ordinary course of business.

 

Section 4.09             Incurrence of
Indebtedness and Issuance of Preferred Stock.

 

(a)   The Company
will not, and will not permit any of its Restricted Subsidiaries to, directly
or indirectly, create, incur, issue, assume, guarantee or otherwise become
directly or indirectly liable, contingently or otherwise, with respect to
(collectively, “incur”) any Indebtedness
(including Acquired Debt), and the Company will not issue any Disqualified
Stock and will not permit any of its Restricted Subsidiaries to issue any
shares of preferred stock; provided, however, that the Company may incur Indebtedness (including
Acquired Debt) or issue Disqualified Stock, and the Guarantors may incur
Indebtedness (including Acquired Debt) or issue preferred stock, if the Fixed
Charge Coverage Ratio for the Company’s most recently ended four full fiscal
quarters for which internal financial statements are available immediately
preceding the date on which such additional Indebtedness is incurred or such
Disqualified Stock or such preferred stock is issued, as the case may be, would
have been at least 2.0 to 1.0, determined on a pro forma basis (including a pro
forma application of the net proceeds therefrom), as if the additional
Indebtedness had been incurred or the Disqualified Stock or the preferred stock
had been issued, as the case may be, at the beginning of such four-quarter
period.

 

(b)   The
provisions of Section 4.09(a) hereof will not prohibit the incurrence
of any of the following items of Indebtedness (collectively, “Permitted Debt”):

 

(1) the incurrence by the
Company and any of its Restricted Subsidiaries of Indebtedness and letters of
credit under Credit Facilities in an aggregate principal amount at any one time
outstanding under this clause (1) (with letters of credit being deemed to
have a principal amount equal to the maximum potential liability of the Company
and its Restricted Subsidiaries thereunder) not to exceed the greater of (x) $50.0
million and (y) the amount of the Borrowing Base as of the date of such
incurrence;

 

(2) the incurrence by the
Company and its Restricted Subsidiaries of the Existing Indebtedness;

 

(3) the incurrence by the
Company and the Guarantors of Indebtedness represented by the Notes and the
related Note Guarantees to be issued on the date of this Indenture;

 

(4) the incurrence by the
Company or any of its Restricted Subsidiaries of Indebtedness represented by
Capital Lease Obligations, mortgage financings or purchase money obligations,
in each case incurred for the purpose of financing all or any part of the
purchase price or cost of design, construction, installation or improvement of
property, plant or equipment used in the business of the Company or any of its
Restricted Subsidiaries (whether through the direct purchase of assets or the
Equity Interests of any Person owning such assets), in an aggregate principal
amount, including all Permitted Refinancing Indebtedness incurred to renew,
refund, refinance, replace, defease or discharge any Indebtedness incurred
pursuant to this clause (4), not to exceed the greater of (i) 3.0% of
Total Assets or (ii) $30.0 million at any time outstanding;

 

(5) the incurrence by the
Company or any of its Restricted Subsidiaries of Permitted Refinancing
Indebtedness in exchange for, or the net proceeds of which are used to renew, 

 

42

 

refund, refinance, replace, defease or discharge any
Indebtedness (other than intercompany Indebtedness, 2011 Senior Notes or Senior
Subordinated Notes) that was permitted by this Indenture to be incurred by Section 4.09(a) or
clauses (2), (3), (4), (5), (16) or (17) of this Section 4.09(b);

 

(6) the incurrence by the
Company or any of its Restricted Subsidiaries of intercompany Indebtedness
between or among the Company and any of its Restricted Subsidiaries; provided, however, that:

 

(a)   if the Company or any Guarantor is the
obligor on such Indebtedness and the payee is not the Company or a Guarantor,
such Indebtedness must be expressly subordinated to the prior payment in full
in cash of all Obligations then due with respect to the Notes, in the case of
the Company, or the Note Guarantee, in the case of a Guarantor; and

 

(b)   (i) any subsequent issuance or transfer
of Equity Interests that results in any such Indebtedness being held by a
Person other than the Company or a Restricted Subsidiary of the Company and (ii) any
sale or other transfer of any such Indebtedness to a Person that is not either
the Company or a Restricted Subsidiary of the Company, will be deemed, in each
case, to constitute an incurrence of such Indebtedness by the Company or such
Restricted Subsidiary, as the case may be, that was not permitted by this
clause (6);

 

(7) the issuance by any of the
Company’s Restricted Subsidiaries to the Company or to any of its Restricted
Subsidiaries of shares of preferred stock; provided,
however, that:

 

(a)   any subsequent issuance or transfer of Equity
Interests that results in any such preferred stock being held by a Person other
than the Company or a Restricted Subsidiary of the Company; and

 

(b)   any sale or other transfer of any such
preferred stock to a Person that is not either the Company or a Restricted
Subsidiary of the Company,

 

will be deemed, in each case, to constitute an
issuance of such preferred stock by such Restricted Subsidiary that was not
permitted by this clause (7);

 

(8) the incurrence by the
Company or any of its Restricted Subsidiaries of Hedging Obligations in the
ordinary course of business;

 

(9) the guarantee by the Company
or any of its Restricted Subsidiaries of Indebtedness of the Company or a
Restricted Subsidiary of the Company that was permitted to be incurred by
another provision of this Section 4.09; provided
that if the Indebtedness being guaranteed is subordinated to or pari passu with the Notes, then the
Guarantee shall be subordinated or pari
passu, as applicable, to the same extent as the Indebtedness
guaranteed;

 

(10) the incurrence by the
Company or any of its Restricted Subsidiaries of Indebtedness in respect of
bankers’ acceptances, performance, bid and surety bonds and completion
guarantees provided in the ordinary course of business;

 

(11) the incurrence by the Company or
any of its Restricted Subsidiaries of Indebtedness arising from the honoring by
a bank or other financial institution of a check, draft or similar instrument
inadvertently drawn against insufficient funds in the ordinary course of
business;

 

43

 

(12) the incurrence of Indebtedness
arising from agreements of the Company or any of its Restricted Subsidiaries
providing for indemnification, adjustment of purchase price or similar
obligations, in each case, incurred in connection with the disposition of any
business, assets or a Restricted Subsidiary, other than the Guarantees of
Indebtedness incurred by any Person acquiring all or any portion of such
business, assets or a Restricted Subsidiary for the purpose of financing such
acquisition; provided, however,
that the maximum assumable liability in respect of all such Indebtedness shall
at no time exceed the gross proceeds including non-cash proceeds (the Fair Market
Value of such non-cash proceeds being measured at the time received and without
giving effect to any subsequent changes in value) actually received by the
Company and Restricted Subsidiaries in connection with such disposition;

 

(13) the incurrence of Indebtedness
owed to any Person in connection with worker’s compensation, self-insurance,
health, disability or other employee benefits or property, casualty or
liability insurance provided by such Person to the Company or any of its
Restricted Subsidiaries, pursuant to reimbursement or indemnification
obligations to such Person, in each case incurred in the ordinary course of
business and consistent with past practices;

 

(14) pledges, deposits or payments
made or given in the ordinary course of business in connection with or to
secure statutory, regulatory or similar obligations, including obligations
under health, safety or environmental obligations, or arising from guarantees
to suppliers, lessors, licenses, contractors, franchisees or customers of obligations,
other than Indebtedness, made in the ordinary course of business;

 

(15) the incurrence of Indebtedness
by the Company or any of its Restricted Subsidiaries issued to directors,
officers or employees of the Company or any of its Restricted Subsidiaries in
connection with the redemption or purchase of Capital Stock that, by its terms,
is subordinated to the Notes, is not secured by any assets of the Company or
any of its Restricted Subsidiaries and does not require cash payments prior to
the Stated Maturity of the Notes, in an aggregate principal amount at any time
outstanding not to exceed $5.0 million;

 

(16) the incurrence of Indebtedness
by the Company or any Restricted Subsidiary to finance the acquisition
(including, without limitation, by way of a merger) of Capital Stock of any
Person engaged in, or assets used or useful in, a Permitted Business; provided
that the Fixed Charge Coverage Ratio for the Company’s most recently ended four
full fiscal quarters for which internal financial statements are available
immediately preceding the date on which such Indebtedness is incurred would
have been at least 1.75 to 1.0, determined on a pro forma basis (including a
pro forma application of the net proceeds therefrom), as if the Indebtedness
had been incurred at the beginning of such four-quarter period; and

 

(17) the incurrence by the Company or
any of its Restricted Subsidiaries of additional Indebtedness in an aggregate
principal amount (or accreted value, as applicable) at any time outstanding,
including all Permitted Refinancing Indebtedness incurred to renew, refund,
refinance, replace, defease or discharge any Indebtedness incurred pursuant to
this clause (17), not to exceed the greater of (i) 3.0% of Total Assets or
(ii) $30.0 million.

 

The Company will not
incur, and will not permit any Guarantor to incur, any Indebtedness (including
Permitted Debt) that is contractually subordinated in right of payment to any
other Indebtedness of the Company or such Guarantor unless such Indebtedness is
also contractually subordinated in right of payment to the Notes and the
applicable Note Guarantee on substantially identical terms; provided, however,
that no Indebtedness will be deemed to be contractually subordinated in right 

 

44

 

of payment to any
other Indebtedness of the Company solely by virtue of being unsecured or by
virtue of being secured on a first or junior priority basis.

 

For purposes of
determining compliance with this Section 4.09, in the event that an item
of proposed Indebtedness meets the criteria of more than one of the categories
of Permitted Debt described in clauses (1) through (17) above, or is
entitled to be incurred pursuant to Section 4.09(a) hereof, the
Company will be permitted to classify such item of Indebtedness on the date of
its incurrence, or later reclassify all or a portion of such item of
Indebtedness, in any manner that complies with this Section 4.09.  Indebtedness under Credit Facilities
outstanding on the date on which Notes are first issued and authenticated under
this Indenture will initially be deemed Existing Indebtedness.  The accrual of interest, the accretion or
amortization of original issue discount, the payment of interest on any Indebtedness
in the form of additional Indebtedness with the same terms, the
reclassification of preferred stock as Indebtedness due to a change in
accounting principles, and the payment of dividends on Disqualified Stock in
the form of additional shares of the same class of Disqualified Stock will not
be deemed to be an incurrence of Indebtedness or an issuance of Disqualified
Stock for purposes of this Section 4.09. 
Notwithstanding any other provision of this Section 4.09, the
maximum amount of Indebtedness that the Company or any Restricted Subsidiary
may incur pursuant to this Section 4.09 shall not be deemed to be exceeded
solely as a result of fluctuations in exchange rates or currency values.

 

The amount of any
Indebtedness outstanding as of any date will be:

 

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

 

(2) the
principal amount of the Indebtedness, in the case of any other Indebtedness;
and

 

(3) in
respect of Indebtedness of another Person secured by a Lien on the assets of
the specified Person, the lesser of:

 

(A)  the Fair Market Value of such assets at the
date of determination; and

 

(B)   the amount of the Indebtedness of the other
Person.

 

Section 4.10             Asset Sales.

 

The Company will not, and
will not permit any of its Restricted Subsidiaries to, consummate an Asset Sale
unless:

 

(1) the Company (or the
Restricted Subsidiary, as the case may be) receives consideration at the time
of the Asset Sale at least equal to the Fair Market Value (measured as of the
date of the definitive agreement with respect to such Asset Sale) as determined
in good faith by the Company’s senior management or, if such Asset Sale
involves consideration in excess of $10.0 million, by the Board of Directors of
the Company, of the assets or Equity Interests issued or sold or otherwise
disposed of; and

 

(2) at least 75% of the
consideration received in the Asset Sale by the Company or such Restricted
Subsidiary is in the form of cash or Cash Equivalents.  For purposes of this provision, each of the
following will be deemed to be cash:

 

(A)  any liabilities, as shown on the Company’s
most recent consolidated balance sheet, of the Company or any Restricted
Subsidiary (other than contingent liabilities and 

 

45

 

liabilities that are by their terms
subordinated to the Notes or any Note Guarantee) that are assumed by the
transferee of any such assets and the Company or such Restricted Subsidiary is
released from further liability;

 

(B)   any securities, notes or other obligations
received by the Company or any such Restricted Subsidiary from such transferee
that are converted by the Company or such Restricted Subsidiary into cash
within 180 days after such Asset Sale, to the extent of the cash received in
that conversion; and

 

(C)   any stock or assets of the kind referred to
in clauses (2) or (4) of the next paragraph of this Section 4.10.

 

Any Asset Sale pursuant
to a condemnation, appropriation or other similar taking, including by deed in
lieu of condemnation, or pursuant to the foreclosure or other enforcement of a
Permitted Lien or exercise by the related lienholder of rights with respect to
any of the foregoing, including by deed or assignment in lieu of foreclosure,
will not be required to satisfy the conditions set forth in the preceding
paragraph.  Within 360 days after the
receipt of any Net Proceeds from an Asset Sale, the Company (or the applicable
Restricted Subsidiary, as the case may be) may apply such Net Proceeds, at its
option:

 

(1)           to
repay, prepay or purchase Indebtedness and other Obligations under a Credit
Facility and, if the Indebtedness repaid is revolving credit Indebtedness, to
correspondingly reduce commitments with respect thereto;

 

(2)           to
acquire all or substantially all of the assets of another Permitted Business,
or to acquire any Capital Stock of another Permitted Business, if, after giving
effect to any such acquisition of Capital Stock, the Permitted Business is or
becomes a Restricted Subsidiary of the Company;

 

(3)           to
make a capital expenditure;

 

(4)           to
acquire other assets that are not classified as current assets under GAAP and
that are used or useful in a Permitted Business; or

 

(5)           any
combination of the foregoing clauses (1) through (4).

 

In the case of clauses (2) and
(4) above, the Company will be deemed to have complied with its
obligations in the preceding paragraph if it enters into a binding commitment
to acquire such assets or Capital Stock prior to 360 days after the receipt of
the applicable Net Proceeds; provided that such binding commitment will be
subject only to customary conditions and such acquisition is completed within
180 days following the expiration of the aforementioned 360 day period.  If the acquisition contemplated by such binding
commitment is not consummated on or before such 180th day, and the Company has
not applied the applicable Net Proceeds for another purpose permitted by the
preceding paragraph on or before such 180th day, such commitment shall be
deemed not have been a permitted application of Net Proceeds.  Pending the final application of any Net
Proceeds, the Company may temporarily reduce revolving credit borrowings or
otherwise invest the Net Proceeds in any manner that is not prohibited by this
Indenture.

 

Any Net Proceeds from
Asset Sales that are not applied or invested as provided in the second
paragraph of this Section 4.10 will constitute “Excess Proceeds.”  When the aggregate amount of Excess Proceeds
exceeds $25.0 million, within 30 days thereof, the Company will make an Asset
Sale Offer to all Holders of Notes and all Holders of other Indebtedness that
is pari passu with the Notes (containing provisions similar to those set forth
in this Indenture with respect to offers) to purchase, prepay or redeem 

 

46

 

with the proceeds
of sales of assets to purchase, prepay or redeem the maximum principal amount
of Notes and such other pari passu Indebtedness (plus all accrued interest on
the Indebtedness and the amount of all fees and expenses, including premiums,
incurred in connection therewith) that may be purchased, prepaid or redeemed
out of the Excess Proceeds.  The offer
price in any Asset Sale Offer will be equal to 100% of the principal amount
plus accrued and unpaid interest, if any, to the date of purchase, prepayment
or redemption, subject to the rights of Holders of Notes on the relevant record
date to receive interest due on the relevant interest payment date, and will be
payable in cash.  If any Excess Proceeds
remain after consummation of an Asset Sale Offer, the Company may use those
Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If
the aggregate principal amount of Notes and other pari passu Indebtedness
tendered into (or required to be prepaid or redeemed in connection with) such
Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee will select
the Notes and such other pari passu Indebtedness to be purchased on a pro rata
basis, based on the amounts tendered or required to be prepaid or redeemed.  Upon completion of each Asset Sale Offer, the
amount of Excess Proceeds will be reset at zero.

 

Any Asset Sale Offer will
be made in compliance with all applicable laws, rules and regulations,
including, if applicable, Regulation 14E under the Exchange Act and the rules thereunder
and all other applicable Federal and state securities laws.  To the extent that the provisions of any
securities laws or regulations conflict with the provisions of this Section 4.10,
the Company’s compliance with those laws and regulations will not in and of
itself cause a breach of its obligations under this Section 4.10.

 

Section 4.11             Transactions with
Affiliates.

 

(a)   The Company
will not, and will not permit any of its Restricted Subsidiaries to, on or
after the date of this Indenture, make any payment to, or sell, lease, transfer
or otherwise dispose of any of its properties or assets to, or purchase any
property or assets from, or enter into or make or amend any transaction,
contract, agreement, understanding, loan, advance or guarantee with, or for the
benefit of, any Affiliate of the Company (each, an “Affiliate Transaction”), unless:

 

(1) the Affiliate Transaction is
on terms that are no less favorable to the Company or the relevant Restricted
Subsidiary than those that would have been obtained in a comparable transaction
by the Company or such Restricted Subsidiary with a Person that is not an
Affiliate of the Company; and

 

(2) The Company delivers to the
Trustee:

 

(A)  with respect to any Affiliate Transaction or
series of related Affiliate Transactions involving aggregate consideration in
excess of $10.0 million, a resolution of the Board of Directors of the Company
set forth in an Officers’ Certificate certifying that such Affiliate
Transaction complies with this Section 4.11(a) and that such
Affiliate Transaction has been approved by a majority of the disinterested
members of the Board of Directors of the Company or, if none, a disinterested
representative appointed by the Board of Directors for such purpose; and

 

(B)   with respect to any Affiliate Transaction or
series of related Affiliate Transactions involving aggregate consideration in
excess of $20.0 million, an opinion as to the fairness to the Company or such
Subsidiary of such Affiliate Transaction from a financial point of view or that
such Affiliate Transaction is not less favorable to the Company and its
Restricted Subsidiaries than could reasonably be expected to be obtained in a
comparable transaction with a Person that is not an Affiliate of the 

 

47

 

Company, as issued by an accounting,
appraisal or investment banking firm of national standing.

 

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

 

(1) any employment agreement,
officer or director indemnification agreement or any similar arrangement
entered into by the Company or any of its Restricted Subsidiaries in the
ordinary course of business and payments pursuant thereto;

 

(2) transactions between or
among the Company and/or its Restricted Subsidiaries;

 

(3) transactions with a Person
(other than an Unrestricted Subsidiary of the Company) that is an Affiliate of
the Company solely because the Company owns, directly or through a Restricted
Subsidiary, an Equity Interest in, or controls, such Person;

 

(4) fees and compensation paid
to officers and employees of the Company or any Restricted Subsidiaries, to the
extent such fees and compensation are reasonable and customary, and payment of
reasonable directors’ fees to Persons who are not otherwise Affiliates of the
Company;

 

(5) any issuance or sale of
Equity Interests (other than Disqualified Stock) of the Company to Affiliates,
employees, officers and directors of the Company or any of its Restricted
Subsidiaries;

 

(6) Restricted Payments that are
permitted by Section 4.07 hereof;

 

(7) maintenance
in the ordinary course of business of customary benefit programs or
arrangements for employees, officers or directors, including vacation plans,
health and life insurance plans, deferred compensation plans and retirement or
savings plans and similar plans;

 

(8) loans or advances to
employees that are permitted under the definition of Permitted Investments
contained herein;

 

(9) any agreement as in effect
and entered into as of the date of this Indenture, or any amendment thereto or
any transaction contemplated thereby (including pursuant to any amendment
thereto) in any replacement agreement thereto so long as any such amendment or
replacement agreement is not more disadvantageous to the Holders of the Notes
in any material respect than the original agreement as in effect on the date of
this Indenture;

 

(10) any transaction or series
of transactions between the Company or any Restricted Subsidiary and any of
their Joint Ventures; provided that
(a) such transaction or series of transactions is in the ordinary course
of business between the Company or such Restricted Subsidiary and such Joint
Venture and (b) with respect to any such Affiliate Transaction involving
aggregate consideration in excess of $10.0 million, such Affiliate Transaction
complies with Section 4.11(a)(1) hereof and such Affiliate
Transaction has been approved by the Board of Directors of the Company; and

 

(11) any service, purchase, lease,
supply or similar agreement entered into in the ordinary course of business
between the Company or any Restricted Subsidiary and any Affiliate that is a
customer, client, supplier or purchaser or seller of goods or services, so long
as the senior 

 

48

 

management or Board of Directors of the Company determines in
good faith that any such agreement is on terms no less favorable to the Company
or such Restricted Subsidiary than those that could be obtained in a comparable
arms’-length transaction with an entity that is not an Affiliate.

 

Section 4.12             Liens.

 

The Company will not, and
will not permit any of its Restricted Subsidiaries to, directly or indirectly,
create, incur, assume or suffer to exist any Lien of any kind (other than
Permitted Liens) to secure Indebtedness of any kind on any asset now owned or
hereafter acquired, unless all payments due under this Indenture and the Notes
are secured on an equal and ratable basis with the obligations so secured (or,
if such obligations are subordinated by their terms to the Notes or the Note
Guarantees, prior to the obligations so secured) until such time as such
obligations are no longer secured by a Lien.

 

Section 4.13             Business Activities.

 

The Company will not, and will not permit any of its
Restricted Subsidiaries to, engage in any business other than Permitted
Businesses, except to such extent as would not be material to the Company and
its Restricted Subsidiaries taken as a whole, as reasonably determined in good
faith by the Board of Directors of the Company.

 

Section 4.14             Corporate
Existence.

 

Subject to Article 5 hereof, the Company shall do
or cause to be done all things necessary to preserve and keep in full force and
effect:

 

(1) its corporate existence, and
the corporate, partnership or other existence of each of its Subsidiaries, in
accordance with the respective organizational documents (as the same may be
amended from time to time) of the Company or any such Subsidiary; and

 

(2) the rights (charter and
statutory), licenses and franchises of the Company and its Subsidiaries; provided, however, that the Company shall not be required to
preserve any such right, license or franchise, or the corporate, partnership or
other existence of any of its Subsidiaries, if the Board of Directors shall
determine that the preservation thereof is no longer desirable in the conduct
of the business of the Company and its Subsidiaries, taken as a whole, and that
the loss thereof is not adverse in any material respect to the Holders of the
Notes.

 

Section 4.15             Offer to Repurchase
Upon Change of Control.

 

(a)   If a Change
of Control occurs, each Holder of Notes will have the right to require the
Company to repurchase all or any part (equal to $2,000 or an integral multiple
of $1,000 in excess thereof) of that Holder’s Notes pursuant to a Change of
Control Offer on the terms set forth herein. 
In the Change of Control Offer (subject to the conditions required by
applicable law, if any), the Company will offer a Change of Control Payment in
cash equal to 101% of the aggregate principal amount of Notes repurchased plus
accrued and unpaid interest, if any, on the Notes repurchased to the date of
purchase, subject to the rights of Holders of Notes on the relevant record date
to receive interest due on the relevant interest payment date (the “Change of Control Payment”). 
No earlier than five and no later than 30 days following any Change of
Control, the Company will mail a notice to each Holder describing the transaction
or transactions that constitute the Change of Control and offering to
repurchase Notes on the Change of Control Payment Date specified in the notice,
which date will be no earlier than 30 days and no later than 60 days from the
date such notice is mailed (the “Change of Control Payment
Date”), pursuant 

 

49

 

to the
procedures required by this Indenture and described in such notice.  Holders electing to have a Note purchased
pursuant to a Change of Control Offer will be required to surrender the Note,
with the form entitled “Option of Holder to Elect Purchase” on the reverse of
the Note completed, to the Paying Agent at the address specified in the notice
of Change of Control Offer prior to the close of business on the third Business
Day prior to the Change of Control Payment Date.

 

Any Change of Control Offer will be made in compliance
with all applicable laws, rules and regulations, including, if applicable,
Regulation 14E under the Exchange Act and the rules thereunder and all
other applicable Federal and state securities laws in connection with the
repurchase of the Notes pursuant to the Change of Control Offer.  To the extent that the provisions of any
securities laws or regulations conflict with the provisions of Sections 3.09 or
4.15 hereof, the Company’s compliance with those laws and regulations will not
in and of itself cause a breach of its obligations under Section 3.09
hereof or this Section 4.15.

 

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

 

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

 

(2) deposit with the Paying
Agent an amount equal to the Change of Control Payment in respect of all Notes
or portions of Notes properly tendered; and

 

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

 

The Paying Agent will promptly mail to each Holder of
Notes properly tendered the Change of Control Payment for such Notes, and the
Trustee will promptly authenticate and mail (or cause to be transferred by book
entry) to each Holder a new Note equal in principal amount to any unpurchased
portion of the Notes surrendered, if any.  
The Company will publicly announce the results of the Change of Control
Offer on or as soon as practicable after the Change of Control Payment Date.

 

The Company will not be required to make a Change of
Control Offer upon a Change of Control if (1) a third party makes the
Change of Control Offer in the manner, at the times and otherwise in compliance
with the requirements set forth in Section 4.15 and Section 3.09
hereof and purchases all Notes properly tendered and not withdrawn under the
Change of Control Offer, or (2) notice of redemption has been given
pursuant to Section 3.07 hereof, unless and until there is a default in
payment of the applicable redemption price. 
Notwithstanding anything to the contrary contained herein, a Change of
Control Offer may be made in advance of a Change of Control, conditioned upon
the consummation of such Change of Control, if a definitive agreement is in
place for the Change of Control at the time the Change of Control Offer is
made.

 

Section 4.16             No Amendment to
Subordination Provisions.

 

Without the consent of the Holders of at least a
majority in aggregate principal amount of the Notes then outstanding, the
Company will not amend, modify or alter the Senior Subordinated Note Indenture
in any way to:

 

(1) increase the rate of or
change the time for payment of interest on any Senior Subordinated Notes;

 

50

 

(2) increase the principal of,
advance the final maturity date of or shorten the Weighted Average Life to
Maturity of any Senior Subordinated Notes;

 

(3) alter the redemption
provisions or the price or terms at which the Company is required to offer to
purchase any Senior Subordinated Notes; or

 

(4) amend the provisions of Article 10
of the Senior Subordinated Note Indenture (which relate to subordination).

 

Section 4.17                                Limitation
on Sale and Leaseback Transactions.

 

The Company will not, and will not permit any of its
Restricted Subsidiaries to, enter into any sale and leaseback transaction; provided that the Company or any Guarantor may enter into a
sale and leaseback transaction if:

 

(1) the Company or that
Guarantor, as applicable, could have (a) incurred Indebtedness in an
amount equal to the Attributable Debt relating to such sale and leaseback
transaction under the Fixed Charge Coverage Ratio test in Section 4.09(a) hereof
and (b) incurred a Lien to secure such Indebtedness pursuant to the
provisions of Section 4.12 hereof;

 

(2) the gross cash proceeds of
that sale and leaseback transaction are at least equal to the Fair Market Value
of the property that is the subject of that sale and leaseback transaction; and

 

(3) the transfer of assets in
that sale and leaseback transaction is permitted by, and the Company applies
the proceeds of such transaction in compliance with, Section 4.10 hereof.

 

Section 4.18                                Payments for
Consent.

 

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

 

Section 4.19                                Additional
Note Guarantees.

 

If the Company or any of its Restricted Subsidiaries
acquires or creates another Domestic Subsidiary after the date of this
Indenture, then that newly acquired or created Domestic Subsidiary will become
a Guarantor and execute a supplemental indenture and deliver an Opinion of
Counsel (subject to customary assumptions and exceptions) satisfactory to the
Trustee within 10 Business Days of the date on which it was acquired or
created; provided that any
Domestic Subsidiary that constitutes an Immaterial Subsidiary need not become a
Guarantor until such time as it ceases to be an Immaterial Subsidiary.  The form of such supplemental indenture and
the related additional Note Guarantee are each attached hereto as Exhibit C
and Exhibit B, respectively.

 

Section 4.20                                Designation
of Restricted and Unrestricted Subsidiaries.

 

The Board of Directors of the Company may designate
any Restricted Subsidiary to be an Unrestricted Subsidiary if that designation
would not cause a Default.  If a
Restricted Subsidiary is designated as an Unrestricted Subsidiary the aggregate
Fair Market Value of all outstanding Investments 

 

51

 

owned by the Company and
its Restricted Subsidiaries in the Subsidiary designated as Unrestricted will
be deemed to be an Investment made as of the time of the designation and will
reduce the amount available for Restricted Payments under Section 4.07
hereof or under one or more clauses of the definition of Permitted Investments,
as determined by the Company.  That
designation will only be permitted if the Investment would be permitted at that
time and if the Restricted Subsidiary otherwise meets the definition of an
Unrestricted Subsidiary.  The Board of
Directors of the Company may redesignate any Unrestricted Subsidiary to be a
Restricted Subsidiary if that redesignation would not cause a Default.

 

Any designation of a Subsidiary of the Company as an
Unrestricted Subsidiary will be evidenced to the Trustee by filing with the
Trustee a certified copy of a resolution of the Board of Directors giving
effect to such designation and an Officers’ Certificate certifying that such
designation complied with the preceding conditions and was permitted by Section 4.07
hereof.  If, at any time, any
Unrestricted Subsidiary would fail to meet the preceding requirements as an
Unrestricted Subsidiary, it will thereafter cease to be an Unrestricted
Subsidiary for purposes of this Indenture and any Indebtedness of such
Subsidiary will be deemed to be incurred by a Restricted Subsidiary of the
Company as of such date and, if such Indebtedness is not permitted to be
incurred as of such date under Section 4.09 hereof, the Company will be in
default of such covenant.  The Board of
Directors of the Company may at any time designate any Unrestricted Subsidiary
to be a Restricted Subsidiary of the Company; provided
that such designation will be deemed to be an incurrence of
Indebtedness by a Restricted Subsidiary of the Company of any outstanding
Indebtedness of such Unrestricted Subsidiary, and such designation will only be
permitted if (1) such Indebtedness is permitted under Section 4.09
hereof, calculated on a pro forma basis as if such designation had occurred at
the beginning of the four-quarter reference period; and (2) no Default or
Event of Default would result following such designation.

 

ARTICLE 5

SUCCESSORS

 

Section 5.01                                Merger,
Consolidation, or Sale of Assets.

 

The Company will not, directly or indirectly: (1) consolidate
or merge with or into another Person (whether or not the Company is the
surviving entity); or (2) sell, assign, transfer, convey or otherwise
dispose of all or substantially all of the properties or assets (such amounts
to be computed on a consolidated basis) of the Company and its Restricted
Subsidiaries taken as a whole, in one or more related transactions, to another
Person, unless:

 

(1) either: (a) the Company
is the surviving corporation; or (b) the Person formed by or surviving any
such consolidation or merger (if other than the Company) or to which such sale,
assignment, transfer, conveyance or other disposition has been made is either (i) a
corporation organized or existing under the laws of the United States, any
state of the United States or the District of Columbia or (ii) a
partnership or limited liability company organized or existing under the laws
of the United States, any state of the United States or the District of
Columbia that has at least one Restricted Subsidiary that is a corporation
organized or existing under the laws of the United States, any state of the
United States or the District of Columbia, which corporation becomes the
co-issuer of the Notes pursuant to a supplemental indenture reasonably
satisfactory to the Trustee;

 

(2) the Person formed by or
surviving any such consolidation or merger (if other than the Company) or the
Person to which such sale, assignment, transfer, conveyance or other
disposition has been made assumes all the obligations of the Company under the
Notes and this Indenture pursuant to agreements reasonably satisfactory to the
Trustee;

 

52

 

(3) immediately after such
transaction, no Default or Event of Default exists; and

 

(4) the Company or the Person
formed by or surviving any such consolidation or merger (if other than the
Company), or to which such sale, assignment, transfer, conveyance or other
disposition has been made would, on the date of such transaction after giving
pro forma effect thereto and any related financing transactions as if the same
had occurred at the beginning of the applicable four-quarter period, either:

 

(A) be
permitted to incur at least $1.00 of additional Indebtedness pursuant to the
Fixed Charge Coverage Ratio test set forth in Section 4.09(a) hereof.

 

(B) have
a Fixed Charge Coverage Ratio that is equal to or greater than the Fixed Charge
Coverage Ratio of the Company immediately prior to such consolidation, merger,
sale, assignment, transfer, conveyance or other disposition.

 

In addition, the Company will not, directly or
indirectly, lease all or substantially all of the properties and assets of it
and its Restricted Subsidiaries taken as a whole, in one or more related
transactions, to any other Person, other than in compliance with this Section 5.01.

 

This Section 5.01 will not apply to:

 

(1) a merger of the Company with
an Affiliate solely for the purpose of reincorporating the Company in another
jurisdiction; or

 

(2) any consolidation or merger,
or any sale, assignment, transfer, conveyance, lease or other disposition of
assets between or among the Company and its Restricted Subsidiaries.

 

Section 5.02                                Successor
Corporation Substituted.

 

Upon any consolidation or merger, or any sale,
assignment, transfer, lease, conveyance or other disposition of all or
substantially all of the properties or assets of the Company in a transaction
that is subject to, and that complies with the provisions of, Section 5.01
hereof, the successor Person formed by such consolidation or into or with which
the Company is merged or to which such sale, assignment, transfer, lease,
conveyance or other disposition is made shall succeed to, and be substituted
for (so that from and after the date of such consolidation, merger, sale,
assignment, transfer, lease, conveyance or other disposition, the provisions of
this Indenture referring to the “Company” shall refer instead to the successor
Person and not to the Company), and may exercise every right and power of the
Company under this Indenture with the same effect as if such successor Person
had been named as the Company herein; provided, however,
that the predecessor Company shall not be relieved from the obligation to pay
the principal of, premium on, if any, and interest, if any, on, the Notes
except in the case of a sale of all of the Company’s assets in a transaction
that is subject to, and that complies with the provisions of, Section 5.01
hereof.

 

ARTICLE 6

DEFAULTS AND REMEDIES

 

Section 6.01                                Events of
Default.

 

Each of the following will be an “Event of Default”:

 

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

 

53

 

(2) default in the payment when
due (at maturity, upon redemption or otherwise) of the principal of, or
premium, if any, on, the Notes;

 

(3) failure by the Company or
any of its Restricted Subsidiaries to comply with the provisions of Section 5.01
hereof;

 

(4) failure by the Company or
any of its Restricted Subsidiaries for 30 days to comply with the provisions of
Sections 4.10 and 4.15 hereof.

 

(5) failure by the Company or
any of its Restricted Subsidiaries for 60 days after written notice to the
Company by the Trustee or the Holders of at least 25% in aggregate principal
amount of the Notes then outstanding voting as a single class to comply with
any of the other agreements in this Indenture;

 

(6) default under any mortgage,
indenture or instrument under which there may be issued or by which there may
be secured or evidenced any Indebtedness for money borrowed by the Company or
any of its Restricted Subsidiaries (or the payment of which is guaranteed by
the Company or any of its Restricted Subsidiaries), whether such Indebtedness
or Guarantee now exists, or is created after the date of this Indenture, if
that default:

 

(A)      is caused by
a failure to pay principal of, or interest or premium, if any, on, such
Indebtedness prior to the expiration of the grace period provided in such
Indebtedness on the date of such default (a “Payment
Default”); or

 

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

 

and, in each case, the principal amount of any such
Indebtedness, together with the principal amount of any other such Indebtedness
under which there has been a Payment Default or the maturity of which has been
so accelerated, aggregates $15.0 million or more;

 

(7) failure by the Company or
any of its Restricted Subsidiaries to pay final judgments entered by a court or
courts of competent jurisdiction aggregating in excess of $15.0 million (net of
any amount covered by insurance from an insurer that has not denied liability
therefor), which judgments are not paid, discharged or stayed for a period of
60 days after their entry;

 

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

 

(9) the Company or any of its
Restricted Subsidiaries that is a Significant Subsidiary or any group of
Restricted Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law:

 

(A)      commences a
voluntary case,

 

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

 

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

 

54

 

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

 

(E)         generally is
not paying its debts as they become due; or

 

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

 

(A)      is for
relief against the Company or any of its Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries of the Company
that, taken together, would constitute a Significant Subsidiary in an
involuntary case;

 

(B)        appoints a
custodian of the Company or any of its Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries of the Company
that, taken together, would constitute a Significant Subsidiary or for all or
substantially all of the property of the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries of the
Company that, taken together, would constitute a Significant Subsidiary; or

 

(C)        orders the
liquidation of the Company or any of its Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries of the Company
that, taken together, would constitute a Significant Subsidiary;

 

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

 

Section 6.02                                Acceleration.

 

In the case of an Event of Default specified in clause
(9) or (10) of Section 6.01 hereof, with respect to the Company,
any Restricted Subsidiary of the Company that is a Significant Subsidiary or
any group of Restricted Subsidiaries of the Company that, taken together, would
constitute a Significant Subsidiary, all outstanding Notes will become due and
payable immediately without further action or notice.  If any other Event of Default occurs and is
continuing, the Trustee or the Holders of at least 25% in aggregate principal
amount of the then outstanding Notes may declare all the Notes to be due and
payable immediately.

 

The Holders of a majority in aggregate principal
amount of the then outstanding Notes by written notice to the Trustee may, on
behalf of all of the Holders of the Notes, rescind an acceleration or waive any
existing Default or Event of Default and its consequences under this Indenture
except a continuing Default or Event of Default in the payment of interest or
premium, if any, on, or the principal of, the Notes (except nonpayment of
principal of, premium on, if any, or interest, if any, on the Notes that has
become due solely because of the acceleration).

 

If an Event of Default occurs on or after January 15,
2014 by reason of any willful action (or inaction) taken (or not taken) by or
on behalf of the Company with the intention of avoiding payment of the premium
that the Company would have had to pay if the Company then had elected to
redeem the Notes pursuant to Section 3.07 hereof, then, upon acceleration
of the Notes, an equivalent premium shall also become and be immediately due
and payable, to the extent permitted by law, anything in this Indenture or in
the Notes to the contrary notwithstanding. If an Event of Default occurs prior
to January 15, 2014 by reason of any willful action (or inaction) taken
(or not taken) by or on behalf of the Company with the intention of avoiding
the prohibition on redemption of the Notes prior to such date, then, upon
acceleration of the Notes, an additional premium shall also become and be
immediately due and payable, to the extent permitted by law, in an amount, for
each of the years beginning on January 15 of the years 

 

55

 

set forth below, as set
forth below (expressed as a percentage of the principal amount of the Notes on
the date of payment that would otherwise be due but for the provisions of this
sentence):

 

	
  Year

  	
   

  	
  Percentage

  	
   

  
	
  2010

  	
   

  	
  7.625000

  	
  %

  
	
  2011

  	
   

  	
  6.671850

  	
  %

  
	
  2012

  	
   

  	
  5.718750

  	
  %

  
	
  2013

  	
   

  	
  4.765625

  	
  %

  

 

Section 6.03                                Other
Remedies.

 

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

 

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

 

Section 6.04                                Waiver of
Past Defaults.

 

The Holders of a majority in aggregate principal
amount of the then outstanding Notes by written notice to the Trustee may, on
behalf of the Holders of all of the Notes waive any existing Default or Event
of Default and its consequences hereunder, except a continuing Default or Event
of Default in the payment of principal of, premium on, if any, or interest, if
any, on, the Notes (including in connection with an offer to purchase); provided, however, that the Holders of a majority in
aggregate principal amount of the then outstanding Notes may rescind an
acceleration and its consequences, including any related payment default that
resulted from such acceleration.  Upon
any such waiver, such Default shall cease to exist, and any Event of Default
arising therefrom shall be deemed to have been cured for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other Default
or impair any right consequent thereon.

 

Section 6.05                                Control by
Majority.

 

Holders of a majority in aggregate principal amount of
the then outstanding Notes may direct the time, method and place of conducting
any proceeding for exercising any remedy available to the Trustee or exercising
any trust or power conferred on it.  However,
the Trustee may refuse to follow any direction that conflicts with law or this
Indenture that the Trustee determines in good faith may be prejudicial to the
rights of other Holders of Notes or that may involve the Trustee in personal
liability.

 

Section 6.06                                Limitation
on Suits.

 

No Holder of a Note may pursue any remedy with respect
to this Indenture or the Notes unless:

 

(1) such Holder has previously
given the Trustee notice that an Event of Default is continuing;

 

(2) Holders of at least 25% in
aggregate principal amount of the then outstanding Notes have requested the
Trustee to pursue the remedy;

 

56

 

(3) such Holders have offered
the Trustee security or indemnity satisfactory to it against any loss,
liability or expense;

 

(4) the Trustee has complied
with such request within 60 days after the receipt of the request and the offer
of security or indemnity; and

 

(5) Holders of a majority in
aggregate principal amount of the then outstanding Notes have not given the
Trustee a direction inconsistent with such request within such 60-day period.

 

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

 

Section 6.07                                Rights of
Holders of Notes to Receive Payment.

 

Notwithstanding any other provision of this Indenture,
the right of any Holder of a Note to receive payment of principal of, premium
on, if any, and interest, if any, on, the Note, on or after the respective due
dates expressed in the Note (including in connection with an offer to
purchase), or to bring suit for the enforcement of any such payment on or after
such respective dates, shall not be impaired or affected without the consent of
such Holder.

 

Section 6.08                                Collection
Suit by Trustee.

 

If an Event of Default specified in Section 6.01(1) or
(2) hereof occurs and is continuing, the Trustee is authorized to recover
judgment in its own name and as trustee of an express trust against the Company
for the whole amount of principal of, premium and interest remaining unpaid on,
the Notes and interest on overdue principal and, to the extent lawful, interest
and such further amount as shall be sufficient to cover the costs and expenses
of collection, including the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel.

 

Section 6.09                                Trustee May File
Proofs of Claim.

 

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

 

57

 

Section 6.10                                Priorities.

 

If the Trustee collects any money pursuant to this Article 6,
it shall pay out the money in the following order:

 

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

 

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

 

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

 

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

 

Section 6.11                                Undertaking
for Costs.

 

In any suit for the enforcement of any right or remedy
under this Indenture or in any suit against the Trustee for any action taken or
omitted by it as a Trustee, a court in its discretion may require the filing by
any party litigant in the suit of an undertaking to pay the costs of the suit,
and the court in its discretion may assess reasonable costs, including
reasonable attorneys’ fees and expenses, against any party litigant in the
suit, having due regard to the merits and good faith of the claims or defenses
made by the party litigant.  This Section 6.11
does not apply to a suit by the Trustee, a suit by a Holder of a Note pursuant
to Section 6.07 hereof, or a suit by Holders of more than 10% in aggregate
principal amount of the then outstanding Notes.

 

ARTICLE 7

TRUSTEE

 

Section 7.01                                Duties of
Trustee.

 

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

 

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

 

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

 

(2) in the absence of bad faith
on its part, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon
certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture.  

 

58

 

However, in the case of certificates or opinions specifically
required by any provision hereof to be furnished to it, the Trustee will
examine the certificates and opinions to determine whether or not they conform
to the requirements of this Indenture (but need not confirm or investigate the
accuracy of mathematical calculations or other facts stated therein).

 

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

 

(1) this paragraph does not
limit the effect of paragraph (b) of this Section 7.01;

 

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

 

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

 

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

 

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

 

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

 

Section 7.02                                Rights of
Trustee.

 

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

 

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

 

(c)          The Trustee may act
through its attorneys and agents and will not be responsible for the misconduct
or negligence of any agent appointed with due care.  No Depository shall be deemed an Agent,
custodian or nominee and the Trustee shall not be responsible for any act or
omission by any Depository.

 

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

 

59

 

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

 

(f)            The Trustee will be
under no obligation to exercise any of the rights or powers vested in it by
this Indenture at the request or direction of any of the Holders unless such
Holders have offered to the Trustee indemnity or security satisfactory to it
against the losses, liabilities and expenses that might be incurred by it in
compliance with such request or direction.

 

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

 

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

 

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

 

Section 7.03                                Individual
Rights of Trustee.

 

The Trustee in its individual or any other capacity
may become the owner or pledgee of Notes and may otherwise deal with the
Company or any Affiliate of the Company with the same rights it would have if
it were not Trustee.  However, in the
event that the Trustee acquires any conflicting interest it must eliminate such
conflict within 90 days, apply to the SEC for permission to continue as trustee
(if this Indenture has been qualified under the TIA) or resign.  Any Agent may do the same with like rights
and duties.  The Trustee is also subject
to Sections 7.10 and 7.11 hereof.

 

Section 7.04                                Trustee’s
Disclaimer.

 

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

 

Section 7.05                                Notice of
Defaults.

 

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

 

60

 

Section 7.06                                Reports by
Trustee to Holders of the Notes.

 

(a)          Within 60 days
after each May 15 beginning with the May 15 following the date of
this Indenture, and for so long as Notes remain outstanding, the Trustee will
mail to the Holders of the Notes a brief report dated as of such reporting date
that complies with TIA § 313(a) (but if no event described in TIA
§ 313(a) has occurred within the twelve months preceding the
reporting date, no report need be transmitted). 
The Trustee also will comply with TIA § 313(b)(2).  The Trustee will also transmit by mail all
reports as required by TIA § 313(c).

 

(b)         A copy of each report at the time of
its mailing to the Holders of Notes will be mailed by the Trustee to the
Company and filed by the Trustee with the SEC and each stock exchange on which
the Notes are listed in accordance with TIA § 313(d).  The Company will promptly notify the Trustee
when the Notes are listed on any stock exchange.

 

Section 7.07                                Compensation
and Indemnity.

 

(a)          The Company will
pay to the Trustee from time to time reasonable compensation for its acceptance
of this Indenture and services hereunder as the parties shall agree in writing
from time to time.  The Trustee’s
compensation will not be limited by any law on compensation of a trustee of an
express trust.  The Company will
reimburse the Trustee promptly upon request for all reasonable disbursements,
advances and expenses incurred or made by it in addition to the compensation
for its services; provided, however,  that the Company need not reimburse any expense or
indemnity against any loss or liability incurred by the Trustee through any
such person’s negligence or bad faith. 
Such expenses will include the reasonable compensation, disbursements
and expenses of the Trustee’s agents and counsel.

 

(b)         The Company and the Guarantors,
jointly and severally, will indemnify the Trustee against any and all losses,
liabilities, claims, damages or expenses incurred by it arising out of or in
connection with the acceptance or administration of its duties under this
Indenture, including the costs and expenses of enforcing this Indenture against
the Company and the Guarantors (including this Section 7.07) and defending
itself against any claim (whether asserted by the Company, the Guarantors, any
Holder or any other Person) or liability in connection with the exercise or
performance of any of its powers or duties hereunder, except to the extent any
such loss, liability or expense shall have been caused by its negligence or bad
faith.  The Trustee will notify the
Company promptly of any claim of which it has received notice for which it may
seek indemnity.  Failure by the Trustee
to so notify the Company will not relieve the Company or any of the Guarantors
of their obligations hereunder.  The
Company or such Guarantor will defend the claim and the Trustee will cooperate
in the defense.  The Trustee may have
separate counsel and the Company will pay the reasonable fees and expenses of
such counsel.  Neither the Company nor
any Guarantor need pay for any settlement made without its consent, which
consent will not be unreasonably withheld.

 

(c)          The obligations of
the Company and the Guarantors under this Section 7.07 will survive the
satisfaction and discharge of this Indenture.

 

(d)         To secure the Company’s and the
Guarantors’ payment obligations in this Section 7.07 until payment in full
of such payment obligations, the Trustee will have a Lien prior to the Notes on
all money or property held or collected by the Trustee, except that held in
trust to pay principal of, premium on, if any, or interest, if any, on,
particular Notes.

 

(e)          When the Trustee
incurs expenses or renders services after an Event of Default specified in Section 6.01(9) or
(10) hereof occurs, the expenses and the compensation for the services
(including the 

 

61

 

fees and
expenses of its agents and counsel) are intended to constitute expenses of
administration under any Bankruptcy Law.

 

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

 

Section 7.08                                Replacement
of Trustee.

 

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

 

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

 

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

 

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

 

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

 

(4) the Trustee becomes
incapable of acting.

 

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

 

(d)         If a successor Trustee does not take
office within 60 days after the retiring Trustee resigns or is removed, the
retiring Trustee, the Company, or the Holders of at least 10% in aggregate principal
amount of the then outstanding Notes may petition at the expense of the Company
any court of competent jurisdiction for the appointment of a successor Trustee.

 

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

 

(f)            A successor Trustee
will deliver a written acceptance of its appointment to the retiring Trustee
and to the Company.  Thereupon, the
resignation or removal of the retiring Trustee will become effective, and the
successor Trustee will have all the rights, powers and duties of the Trustee
under this Indenture.  The successor
Trustee will mail a notice of its succession to Holders.  The retiring Trustee, upon payment of its
charges hereunder, will promptly transfer all property held by it as Trustee to
the successor Trustee; provided all
sums owing to the Trustee hereunder have been paid and subject to the Lien
provided for in Section 7.07 hereof. 
Notwithstanding replacement of the Trustee pursuant to this Section 7.08,
the Company’s obligations under Section 7.07 hereof will continue for the
benefit of the retiring Trustee.

 

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Section 7.09                                Successor
Trustee by Merger, etc.

 

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

 

Section 7.10                                Eligibility;
Disqualification.

 

There will at all times be a Trustee hereunder that is
a corporation organized and doing business under the laws of the United States
of America or of any state thereof that is authorized under such laws to
exercise corporate trustee power, that is subject to supervision or examination
by federal or state authorities and that has a combined capital and surplus of
at least $100.0 million as set forth in its most recent published annual report
of condition.

 

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

 

Section 7.11                                Preferential
Collection of Claims Against Company.

 

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

 

ARTICLE 8

LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

Section 8.01                                Option to
Effect Legal Defeasance or Covenant Defeasance.

 

The Company may at any time, at the option of its
Board of Directors evidenced by a resolution set forth in an Officers’
Certificate, elect to have either Section 8.02 or 8.03 hereof be applied
to all outstanding Notes upon compliance with the conditions set forth below in
this Article 8.

 

Section 8.02                                Legal
Defeasance and Discharge.

 

Upon the Company’s exercise under Section 8.01
hereof of the option applicable to this Section 8.02, the Company and each
of the Guarantors will, subject to the satisfaction of the conditions set forth
in Section 8.04 hereof, be deemed to have been discharged from their
obligations with respect to all outstanding Notes (including the Note
Guarantees) on the date the conditions set forth below are satisfied
(hereinafter, “Legal Defeasance”).  For this purpose, Legal Defeasance means that
the Company and the Guarantors will be deemed to have paid and discharged the entire
Indebtedness represented by the outstanding Notes (including the Note
Guarantees), which will thereafter be deemed to be “outstanding” only for the
purposes of Section 8.05 hereof and the other Sections of this Indenture
referred to in clauses (1) and (2) below, and to have satisfied all
their other obligations under such Notes, the Note Guarantees and this
Indenture (and the Trustee, on demand of and at the expense of the Company,
shall execute proper instruments acknowledging the same), except for the
following provisions which will survive until otherwise terminated or
discharged hereunder:

 

(1) the rights of Holders of
outstanding Notes to receive payments in respect of the principal of, premium
on, if any, or interest, if any, on, such Notes when such payments are due from
the trust referred to in Section 8.04 hereof;

 

63

 

(2) the Company’s obligations
with respect to such Notes under Article 2 and Section 4.02 hereof;

 

(3) the rights, powers, trusts,
duties and immunities of the Trustee hereunder and the Company’s and the
Guarantors’ obligations in connection therewith; and

 

(4) this Article 8.

 

Subject to compliance with this Article 8, the
Company may exercise its option under this Section 8.02 notwithstanding
the prior exercise of its option under Section 8.03 hereof.

 

Section 8.03                                Covenant
Defeasance.

 

Upon the Company’s exercise under Section 8.01
hereof of the option applicable to this Section 8.03, the Company and each
of the Guarantors will, subject to the satisfaction of the conditions set forth
in Section 8.04 hereof, be released from each of their obligations under
the covenants contained in Sections 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13,
4.15, 4.16, 4.17, 4.18, 4.19 and 4.20 hereof and clause (4) of Section 5.01
hereof with respect to the outstanding Notes on and after the date the
conditions set forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Notes will thereafter be
deemed not “outstanding” for the purposes of any direction, waiver, consent or
declaration or act of Holders (and the consequences of any thereof) in
connection with such covenants, but will continue to be deemed “outstanding”
for all other purposes hereunder (it being understood that such Notes will not
be deemed outstanding for accounting purposes). 
For this purpose, Covenant Defeasance means that, with respect to the
outstanding Notes and Note Guarantees, the Company and the Guarantors may omit
to comply with and will have no liability in respect of any term, condition or
limitation set forth in any such covenant, whether directly or indirectly, by
reason of any reference elsewhere herein to any such covenant or by reason of
any reference in any such covenant to any other provision herein or in any
other document and such omission to comply will not constitute a Default or an
Event of Default under Section 6.01 hereof, but, except as specified
above, the remainder of this Indenture and such Notes and Note Guarantees will
be unaffected thereby.  In addition, upon
the Company’s exercise under Section 8.01 hereof of the option applicable
to this Section 8.03, subject to the satisfaction of the conditions set
forth in Section 8.04 hereof, Sections 6.01(3) through 6.01(8) hereof
will not constitute Events of Default.

 

Section 8.04                                Conditions
to Legal or Covenant Defeasance.

 

In order to exercise either Legal Defeasance or
Covenant Defeasance under either Section 8.02 or 8.03 hereof:

 

(1) the Company must irrevocably
deposit with the Trustee, in trust, for the benefit of the Holders, cash in
U.S. dollars, non-callable Government Securities, or a combination thereof, in
such amounts as will be sufficient, in the opinion of a nationally recognized
investment bank, appraisal firm or independent registered public accounting
firm, to pay the principal of, premium on, if any, and interest, if any, on,
the outstanding Notes on the stated date for payment thereof or on the
applicable redemption date, as the case may be, and the Company must specify whether
the Notes are being defeased to such stated date for payment or to a particular
redemption date;

 

(2) in the case of an election
under Section 8.02 hereof, the Company must deliver to the Trustee an
Opinion of Counsel (subject to customary assumptions and exceptions) confirming
that:

 

64

 

(A)      the Company
has received from, or there has been published by, the Internal Revenue Service
a ruling; or

 

(B)        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 the outstanding
Notes will not recognize income, gain or loss for federal income tax purposes
as a result of such Legal 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 Legal Defeasance had not occurred;

 

(3) in the case of an election
under Section 8.03 hereof, the Company must deliver to the Trustee an
Opinion of Counsel confirming that the Holders of the outstanding Notes 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;

 

(4) no Default or Event of
Default shall have occurred and is continuing on the date of such deposit
(other than a Default or Event of Default resulting from the borrowing of funds
to be applied to such deposit) and the deposit will not result in a breach or
violation of, or constitute a default under, any other material instrument to
which the Company or any Guarantor is a party or by which the Company or any
Guarantor is bound;

 

(5) such Legal Defeasance or
Covenant Defeasance will not result in a breach or violation of, or constitute
a default under, any material agreement or instrument (other than this
Indenture) to which the Company or any of its Subsidiaries is a party or by
which the Company or any of its Subsidiaries is bound;

 

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

 

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

 

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

 

Subject to Section 8.06 hereof, all money and
non-callable Government Securities (including the proceeds thereof) deposited
with the Trustee (or other qualifying trustee, collectively for purposes of
this Section 8.05, the “Trustee”)
pursuant to Section 8.04 hereof in respect of the outstanding Notes will
be held in trust and applied by the Trustee, in accordance with the provisions
of such Notes and this Indenture, to the payment, either directly or through
any Paying Agent (including the Company acting as Paying Agent) as the Trustee
may determine, to the Holders of such Notes of all sums due and to become due
thereon in respect of principal, premium, if any, and interest, if any, but
such money need not be segregated from other funds except to the extent
required by law.

 

65

 

The Company will pay and indemnify the Trustee against
any tax, fee or other charge imposed on or assessed against the cash or
non-callable Government Securities deposited pursuant to Section 8.04
hereof or the principal and interest received in respect thereof other than any
such tax, fee or other charge which by law is for the account of the Holders of
the outstanding Notes.

 

Notwithstanding anything in this Article 8 to the
contrary, the Trustee will deliver or pay to the Company from time to time upon
the request of the Company any money or non-callable Government Securities held
by it as provided in Section 8.04 hereof which, in the opinion of a
nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee (which may be the
opinion delivered under Section 8.04(1) hereof), are in excess of the
amount thereof that would then be required to be deposited to effect an
equivalent Legal Defeasance or Covenant Defeasance.

 

Section 8.06                                Repayment to
Company.

 

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

 

Section 8.07                                Reinstatement.

 

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

 

ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER

 

Section 9.01                                Without
Consent of Holders of Notes.

 

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

 

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

 

66

 

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

 

(3) to provide for the
assumption of the Company’s or a Guarantor’s obligations to the Holders of the
Notes and Note Guarantees pursuant to Article 5 or Article 10 hereof;

 

(4) to make any change that
would provide any additional rights or benefits to the Holders of the Notes or
that does not adversely affect the legal rights under this Indenture, the Notes
or the Note Guarantees of any Holder;

 

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

 

(6) to conform the text of this
Indenture, the Note Guarantees or the Notes to any provision of the “Description
of Notes” section of the Company’s prospectus supplement dated January 11,
2010, relating to the initial offering of the Notes, to the extent that such
provision in that “Description of Notes” was intended to be a verbatim
recitation of a provision of this Indenture, the Note Guarantees or the Notes,
which intent may be evidenced by an Officers’ Certificate to that effect;

 

(7) to provide for the issuance
of Additional Notes in accordance with the limitations set forth in this
Indenture;

 

(8) to comply with the
procedures of DTC or the Trustee with respect to the provisions of this
Indenture and the Notes relating to transfers and exchanges of Notes or
beneficial interests in the Notes; or

 

(9) to evidence the release of
any Guarantor permitted to be released under the terms of this Indenture or to
allow any Guarantor to execute a supplemental indenture and/or a Note Guarantee
with respect to the Notes.

 

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

 

Section 9.02                                With Consent
of Holders of Notes.

 

Except as provided below in this Section 9.02,
the Company and the Trustee may amend or supplement this Indenture (including,
without limitation, Section 3.09, 4.10 and 4.15 hereof) and the Notes and
the Note Guarantees with the consent of the Holders of at least a majority in
aggregate principal amount of the then outstanding Notes (including, without
limitation, Additional Notes, if any) voting as a single class (including,
without limitation, consents obtained in connection with a tender offer or
exchange offer for, or purchase of, the Notes), and, subject to Sections 6.04
and 6.07 hereof, any existing Default or Event of Default (other than a Default
or Event of Default in the payment of the principal of, premium on, if any, or
interest, if any, on, the Notes, except a payment default resulting from an
acceleration that has been rescinded) or compliance with any provision of this
Indenture or the Notes or the Note Guarantees may be waived with the consent of
the Holders of a majority in aggregate principal amount of the then outstanding
Notes (including, without limitation, Additional Notes, if any) 

 

67

 

voting as a single class
(including, without limitation, consents obtained in connection with a tender
offer or exchange offer for, or purchase of, the Notes).  Section 2.08 hereof shall
determine which Notes are considered to be “outstanding” for purposes of this Section 9.02.

 

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

 

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

 

After an amendment, supplement or waiver under this Section 9.02
becomes effective, the Company will mail to the Holders of Notes affected
thereby a notice briefly describing the amendment, supplement or waiver.  Any failure of the Company to mail such
notice, or any defect therein, will not, however, in any way impair or affect
the validity of any such amended or supplemental indenture or waiver.  Subject to Sections 6.04 and 6.07 hereof, the
Holders of a majority in aggregate principal amount of the Notes then
outstanding voting as a single class may waive compliance in a particular
instance by the Company with any provision of this Indenture, the Notes or the
Note Guarantees.  However, without the
consent of each Holder affected, an amendment, supplement or waiver under this Section 9.02
may not (with respect to any Notes held by a non-consenting Holder):

 

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

 

(2) reduce the principal of or
change the fixed maturity of any Note or alter the provisions with respect to
the redemption of the Notes (except as provided above with respect to Sections
3.09, 4.10 and 4.15 hereof);

 

(3) reduce the rate of or change
the time for payment of interest, including default interest, on any Note;

 

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

 

(5) make any Note payable in
money other than that stated in the Notes;

 

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

 

(7) waive a redemption payment
with respect to any Note (other than a payment required by Sections 3.09, 4.10
or 4.15 hereof);

 

68

 

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

 

(9) make any change in the
preceding amendment, supplement and waiver provisions that requires each holder’s
consent.

 

Section 9.03                                Compliance
with Trust Indenture Act.

 

Every amendment or supplement to this Indenture or the
Notes will be set forth in a amended or supplemental indenture that complies
with the TIA as then in effect.

 

Section 9.04                                Revocation
and Effect of Consents.

 

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

 

Section 9.05                                Notation on
or Exchange of Notes.

 

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

 

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

 

Section 9.06                                Trustee to
Sign Amendments, etc.

 

The Trustee will sign any amended or supplemental
indenture authorized pursuant to this Article 9 if the amendment or
supplement does not adversely affect the rights, duties, liabilities or
immunities of the Trustee.  The Company
may not sign an amended or supplemental indenture until the Board of Directors
of the Company approves it.  In executing
any amended or supplemental indenture, the Trustee shall be provided with and
(subject to Section 7.01 hereof) will be fully protected in relying upon,
in addition to the documents required by Section 12.04 hereof, an Officers’
Certificate and an Opinion of Counsel stating that the execution of such
amended or supplemental indenture is authorized or permitted by this Indenture.

 

ARTICLE 10

NOTE GUARANTEES

 

Section 10.01                          Guarantee.

 

(a)          Subject to this Article 10,
each of the Guarantors hereby, jointly and severally, unconditionally
guarantees to each Holder of a Note authenticated and delivered by the Trustee
and to the Trustee and its successors and assigns, irrespective of the validity
and enforceability of this Indenture, the Notes or the obligations of the
Company hereunder or thereunder, that:

 

69

 

(1) the principal of, premium
on, if any, and interest, if any, on, the Notes will be promptly paid in full
when due, whether at maturity, by acceleration, redemption or otherwise, and
interest on the overdue principal of, premium on, if any, and interest, if any,
on the Notes, if any, if lawful, and all other obligations of the Company to
the Holders or the Trustee hereunder or thereunder will be promptly paid in
full or performed, all in accordance with the terms hereof and thereof; and

 

(2) in case of any extension of
time of payment or renewal of any Notes or any of such other obligations, that
same will be promptly paid in full when due or performed in accordance with the
terms of the extension or renewal, whether at stated maturity, by acceleration or
otherwise.

 

Failing payment when due of any amount so guaranteed
or any performance so guaranteed for whatever reason, the Guarantors will be
jointly and severally obligated to pay the same immediately.  Each Guarantor agrees that this is a
guarantee of payment and not a guarantee of collection.

 

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

 

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

 

(d)   Each Guarantor agrees that it will
not be entitled to any right of subrogation in relation to the Holders in
respect of any obligations guaranteed hereby until payment in full of all
obligations guaranteed hereby.  Each
Guarantor further agrees that, as between the Guarantors, on the one hand, and
the Holders and the Trustee, on the other hand, (1) the maturity of the
obligations guaranteed hereby may be accelerated as provided in Article 6
hereof for the purposes of this Note Guarantee, notwithstanding any stay,
injunction or other prohibition preventing such acceleration in respect of the
obligations guaranteed hereby, and (2) in the event of any declaration of
acceleration of such obligations as provided in Article 6 hereof, such
obligations (whether or not due and payable) will forthwith become due and
payable by the Guarantors for the purpose of this Note Guarantee.  The Guarantors will have the right to seek
contribution from any non-paying Guarantor so long as the exercise of such
right does not impair the rights of the Holders under the Note Guarantee.

 

Section 10.02           Limitation
on Guarantor Liability.

 

Each Guarantor, and by its acceptance of Notes, each
Holder, hereby confirms that it is the intention of all such parties that the
Note Guarantee of such Guarantor not constitute a fraudulent transfer or
conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance
Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to
the extent applicable to any Note Guarantee. 
To effectuate the foregoing intention, the Trustee, the Holders and the
Guarantors hereby irrevocably 

 

70

 

agree that the
obligations of such Guarantor will be limited to the maximum amount that will,
after giving effect to such maximum amount and all other contingent and fixed
liabilities of such Guarantor that are relevant under such laws, and after giving
effect to any collections from, rights to receive contribution from or payments
made by or on behalf of any other Guarantor in respect of the obligations of
such other Guarantor under this Article 10, result in the obligations of
such Guarantor under its Note Guarantee not constituting a fraudulent transfer
or conveyance.

 

Section 10.03           Execution
and Delivery of Note Guarantee.

 

To evidence its Note Guarantee set forth in Section 10.01
hereof, each Guarantor hereby agrees that a notation of such Note Guarantee
substantially in the form attached as Exhibit B hereto will be endorsed by
an Officer of such Guarantor on each Note authenticated and delivered by the
Trustee and that this Indenture will be executed on behalf of such Guarantor by
one of its Officers.

 

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

 

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

 

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

 

In the event that the Company or any of its Restricted
Subsidiaries creates or acquires any Domestic Subsidiary after the date of this
Indenture, if required by Section 4.19 hereof, the Company will cause such
Domestic Subsidiary to comply with the provisions of Section 4.19 hereof
and this Article 10, to the extent applicable.

 

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

 

Except as otherwise provided in Section 10.05
hereof, no Guarantor may sell or otherwise dispose of all or substantially all
of its assets to, or consolidate with or merge with or into (whether or not
such Guarantor is the surviving Person) another Person, other than the Company
or another Guarantor, unless:

 

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

 

(2) either:

 

(a)   subject to Section 10.05
hereof, the Person acquiring the property in any such sale or disposition or
the Person formed by or surviving any such consolidation or merger
unconditionally assumes all the obligations of that Guarantor under this
Indenture, its Note Guarantee on the terms set forth herein or therein, pursuant
to a supplemental indenture in form and substance reasonably satisfactory to
the Trustee; or

 

(b)   the Net
Proceeds of such sale or other disposition are applied in accordance with the
applicable provisions of this Indenture, including without limitation, Section 4.10
hereof.

 

71

 

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

 

Except as set forth in Articles 4 and 5 hereof, and
notwithstanding clauses 2(a) and (b) above, nothing contained in this
Indenture or in any of the Notes will prevent any consolidation or merger of a
Guarantor with or into the Company or another Guarantor, or will prevent any
sale or conveyance of the property of a Guarantor as an entirety or
substantially as an entirety to the Company or another Guarantor.

 

Section 10.05           Releases.

 

(a)   In the event of any sale or other
disposition of all or substantially all of the assets of any Guarantor, by way
of merger, consolidation or otherwise, to a Person that is not (either before
or after giving effect to such transaction) the Company or a Restricted
Subsidiary of the Company, then the corporation acquiring the property will be
released and relieved of any obligations under the Note Guarantee;

 

(b)   In the event of any sale or other
disposition of Capital Stock of any Guarantor to a Person that is not (either
before or after giving effect to such transaction) the Company or a Restricted
Subsidiary of the Company and such Guarantor ceases to be a Restricted
Subsidiary of the Company as a result of the sale or other disposition, then
such Guarantor will be released and relieved of any obligations under its Note
Guarantee;

 

provided, in both cases, that the Net Proceeds of such sale or
other disposition are applied in accordance with the applicable provisions of
this Indenture, including without limitation Section 4.10 hereof.  Upon delivery by the Company to the Trustee
of an Officers’ Certificate and an Opinion of Counsel to the effect that such
sale or other disposition was made by the Company in accordance with the
provisions of this Indenture, including without limitation Section 4.10
hereof, the Trustee will execute any documents reasonably required in order to
evidence the release of any Guarantor from its obligations under its Note
Guarantee.

 

(c)   Upon designation of any Restricted
Subsidiary that is a Guarantor as an Unrestricted Subsidiary in accordance with
the terms of this Indenture, such Guarantor will be released and relieved of
any obligations under its Note Guarantee.

 

(d)   Upon Legal Defeasance in accordance
with Article 8 hereof or satisfaction and discharge of this Indenture in
accordance with Article 11 hereof, each Guarantor will be released and
relieved of any obligations under its Note Guarantee.

 

(e)   If such Guarantor no longer
constitutes a Domestic Subsidiary.

 

Any Guarantor not released from its obligations under
its Note Guarantee as provided in this Section 10.05 will remain liable
for the full amount of principal of, premium on, if any, and interest, if 

 

72

 

any, on, the Notes and for the other obligations of any Guarantor under
this Indenture as provided in this Article 10.

 

ARTICLE 11

SATISFACTION AND DISCHARGE

 

Section 11.01           Satisfaction
and Discharge.

 

This Indenture will be discharged and will cease to be
of further effect as to all Notes issued hereunder, when:

 

(1) either:

 

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

 

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

 

(2) in respect of subclause (b) of
clause (1) of this Section 11.01, no Default or Event of Default has
occurred and is continuing on the date of the deposit (other than a Default or
Event of Default resulting from the borrowing of funds to be applied to such
deposit and any similar deposit relating to other Indebtedness and, in each
case, the granting of Liens to secure such borrowings) and the deposit will not
result in a breach or violation of, or constitute a default under, any other
material instrument to which the Company or any Guarantor is a party or by
which the Company or any Guarantor is bound (other than with respect to the borrowing
of funds to be applied concurrently to make the deposit required to effect such
satisfaction and discharge and any similar concurrent deposit relating to other
Indebtedness, and in each case the granting of Liens to secure such
borrowings);

 

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

 

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

 

In addition, the Company must deliver an Officers’
Certificate and an Opinion of Counsel to the Trustee stating that all
conditions precedent to satisfaction and discharge have been satisfied.

 

Notwithstanding the satisfaction and discharge of this
Indenture, if money has been deposited with the Trustee pursuant to subclause (b) of
clause (1) of this Section 11.01, the provisions of
Sections 11.02 and 8.06 hereof will survive.  In addition, nothing in this Section 11.01
will be deemed to 

 

73

 

discharge those provisions of Section 7.07 hereof, that, by their
terms, survive the satisfaction and discharge of this Indenture.

 

Section 11.02           Application
of Trust Money.

 

Subject to the provisions
of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 11.01
hereof shall be held in trust and applied by it, in accordance with the
provisions of the Notes and this Indenture, to the payment, either directly or
through any Paying Agent (including the Company acting as its own Paying Agent)
as the Trustee may determine, to the Persons entitled thereto, of the
principal, premium, if any, and interest, if any, for whose payment such money
has been deposited with the Trustee; but such money need not be segregated from
other funds except to the extent required by law.

 

If the Trustee or Paying
Agent is unable to apply any money or Government Securities in accordance with Section 11.01
hereof by reason of any legal proceeding or by reason of any order or judgment
of any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, the Company’s and any Guarantor’s obligations
under this Indenture and the Notes shall be revived and reinstated as though no
deposit had occurred pursuant to Section 11.01 hereof; provided that if
the Company has made any payment of principal of, premium on, if any, or
interest, if any, on, any Notes because of the reinstatement of its
obligations, the Company shall be subrogated to the rights of the Holders of
such Notes to receive such payment from the money or Government Securities held
by the Trustee or Paying Agent.

 

ARTICLE 12

MISCELLANEOUS

 

Section 12.01           Trust
Indenture Act Controls.

 

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

 

Section 12.02           Notices.

 

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

 

If to
the Company and/or any Guarantor:

 

B&G
Foods, Inc.

Four Gatehall Drive, Suite 110

Parsippany, NJ  07054

Facsimile No.:  (973) 401-6550

Attention:  Chief Financial Officer

 

74

 

With a
copy to:

Dechert LLP

Cira Centre

2929Arch Street

Philadelphia, PA  19104

Facsimile No.:  (215) 994-2222

Attention:  Christopher G. Karras, Esq.

 

If to
the Trustee:

The Bank of New York Mellon

101 Barclay Street, Fl. 8W

New York, NY  10286

Facsimile No.:  (212) 815-5707

Attention:  Corporate Trust
Administration

 

The Company, any
Guarantor or the Trustee, by notice to the others, may designate additional or
different addresses for subsequent notices or communications.

 

All notices and
communications (other than those sent to Holders) will 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;
when receipt acknowledged, if transmitted by facsimile; and the next Business
Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery.

 

Any notice or
communication to a Holder will be mailed by first class mail, certified or
registered, return receipt requested, or by overnight air courier guaranteeing
next day delivery to its address shown on the register kept by the
Registrar.  Any notice or communication
will also be so mailed to any Person described in TIA § 313(c), to the
extent required by the TIA.  Failure to
mail a notice or communication to a Holder or any defect in it will not affect
its sufficiency with respect to other Holders.

 

If a notice or
communication is mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it.

 

If the Company mails a
notice or communication to Holders, it will mail a copy to the Trustee and each
Agent at the same time.

 

Section 12.03           Communication
by Holders of Notes with Other Holders of Notes.

 

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

 

Section 12.04           Certificate
and Opinion as to Conditions Precedent.

 

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

 

(1) an Officers’ Certificate
(which must include the statements set forth in Section 12.05 hereof)
stating that, in the opinion of the signers, all conditions precedent and
covenants, if any, provided for in this Indenture relating to the proposed
action have been satisfied; and

 

75

 

(2) an Opinion of Counsel (which
must include the statements set forth in Section 12.05 hereof) stating
that, in the opinion of such counsel, all such conditions precedent and
covenants have been satisfied.

 

Section 12.05           Statements
Required in Certificate or Opinion.

 

Each certificate or
opinion with respect to compliance with a condition or covenant provided for in
this Indenture (other than a certificate provided pursuant to TIA
§ 314(a)(4)) must comply with the provisions of TIA § 314(e) and
must include:

 

(1) a statement that the Person
making such certificate or opinion has read such covenant or condition;

 

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

 

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

 

(4) a statement as to whether or
not, in the opinion of such Person, such condition or covenant has been
satisfied.

 

Section 12.06           Rules by
Trustee and Agents.

 

The Trustee may make
reasonable rules for action by or at a meeting of Holders.  The Registrar or Paying Agent may make
reasonable rules and set reasonable requirements for its functions.

 

Section 12.07           No Personal
Liability of Directors, Officers, Employees, Affiliates  and Stockholders.

 

No past, present or
future director, officer, employee, direct or indirect incorporator, Affiliate,
stockholder or controlling Person, of the Company or any Guarantor, as such, or
any successor entity, will have any liability for any obligations of the
Company or the Guarantors under the Notes, this Indenture, the Note Guarantees
or for any claim based on, in respect of, or by reason of, such obligations or
their creation.  Each Holder of Notes by
accepting a Note waives and releases all such liability.  The waiver and release are part of the
consideration for issuance of the Notes. 
The waiver may not be effective to waive liabilities under the federal
securities laws.

 

Section 12.08           Governing
Law.

 

THE INTERNAL LAW OF THE
STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES
AND THE NOTE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF
CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION WOULD BE REQUIRED THEREBY.

 

76

 

Section 12.09           No Adverse
Interpretation of Other Agreements.

 

This Indenture may not be
used to interpret any other indenture, loan or debt agreement of the Company or
its Subsidiaries or of any other Person. 
Any such indenture, loan or debt agreement may not be used to interpret
this Indenture.

 

Section 12.10           Successors.

 

All agreements of the
Company in this Indenture and the Notes will bind its successors.  All agreements of the Trustee in this
Indenture will bind its successors.  All
agreements of each Guarantor in this Indenture will bind its successors, except
as otherwise provided in Section 10.05 hereof.

 

Section 12.11           Severability.

 

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

 

Section 12.12           Counterpart
Originals.

 

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

 

Section 12.13           Table of
Contents, Headings, etc.

 

The Table of Contents,
Cross-Reference Table and Headings of the Articles and Sections of this
Indenture have been inserted for convenience of reference only, are not to be
considered a part of this Indenture and will in no way modify or restrict any
of the terms or provisions hereof.

 

Section 12.14           Waiver of
Jury Trial.

 

EACH OF THE COMPANY, THE
GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE
TRANSACTION CONTEMPLATED HEREBY.

 

Section 12.15           Force
Majeure.

 

In no event shall the Trustee be responsible or liable
for any failure or delay in the performance of its obligations hereunder
arising out of or caused by, directly or indirectly, forces beyond its control,
including, without limitation, strikes, work stoppages, accidents, acts of war
or terrorism, civil or military disturbances, nuclear or natural catastrophes
or acts of God, and interruptions, loss or malfunctions of utilities,
communications or computer (software or hardware) services; it being understood
that the Trustee shall use reasonable efforts which are consistent with
accepted practices in the banking industry to resume performance as soon as
practicable under the circumstances.

 

[Signatures on following
page]

 

77

 

	
   

  	
  B&G FOODS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert C.
  Cantwell

  
	
   

  	
   

  	
  Name: Robert C.
  Cantwell

  
	
   

  	
   

  	
  Title: Executive
  Vice President of Finance

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BGH
  Holdings, Inc.

  Bloch & Guggenheimer, Inc.

  Burnham & Morrill Company

  William Underwood Company

  as Guarantors

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert C. Cantwell

  
	
   

  	
   

  	
  Name: Robert C. Cantwell

  
	
   

  	
   

  	
  Title: Executive Vice President of Finance

  

 

 

	
   

  	
  The Bank of New York Mellon

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Franca M. Ferrera

  
	
   

  	
   

  	
  Name:  Franca
  M. Ferrera

  
	
   

  	
   

  	
  Title:  Senior
  Associate

  

 

 

[Face of Note]

 

CUSIP/CINS                 

 

7.625% Senior Notes due 2018

 

	
  No.          

  	
   

  	
  $                 

  

 

 B&G FOODS,
INC., a Delaware corporation, promises to pay to                                                                                                             
Cede & Co., or registered assigns, the principal sum of $                                                       
DOLLARS on
                            .

 

Interest Payment
Dates:  January 15 and July 15

 

Record Dates:  January 1 and July 1

 

Dated:

 

 

	
   

  	
  B&G FOODS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

This is one of the
Notes referred to

in the within-mentioned Indenture:

THE BANK OF NEW
YORK MELLON,
   as Trustee

 

	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
  Authorized Signatory

  	
   

  	
   

  

 

A-1

 

[Back of Note]

7.625% Senior Notes due 2018

 

THIS GLOBAL NOTE IS HELD
BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS
NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT
TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE
TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF
THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE
FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS
GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR
WRITTEN CONSENT OF B&G FOODS, INC.

 

UNLESS AND UNTIL
IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS
NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY
OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE
TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY 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 MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE
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.

 

Capitalized terms used
herein have the meanings assigned to them in the Indenture referred to below
unless otherwise indicated.

 

(1) INTEREST. B&G Foods, Inc., a Delaware corporation
(the “Company”), promises to pay
interest on the principal amount of this Note at 7.625% per annum from
                            
until maturity. The Company will pay interest, if any, semi-annually in arrears
on January 15 and July 15 of each year, or if any such day is not a
Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the
Notes will accrue from the most recent date to which interest has been paid or,
if no interest has been paid, from the date of issuance; provided
that if there is no existing Default in the payment of interest, and if this
Note is authenticated between a record date referred to on the face hereof and
the next succeeding Interest Payment Date, interest shall accrue from such next
succeeding Interest Payment Date; provided further
that the first Interest Payment Date shall be
                            .
The Company will pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue principal and premium, if any,
from time to time on demand at a rate that is 1% per annum in excess of the
rate then in effect to the extent lawful; it will pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue
installments of interest (without regard to any applicable grace periods) from
time to time on demand at the same rate to the extent lawful. Interest will be
computed on the basis of a 360-day year of twelve 30-day months.

 

A-2

 

(2) METHOD OF PAYMENT. The Company will pay interest on the
Notes (except defaulted interest) to the Persons who are registered Holders of
Notes at the close of business on the January 1 or July 1 next
preceding the Interest Payment Date, even if such Notes are canceled after such
record date and on or before such Interest Payment Date, except as provided in Section 2.12
of the Indenture with respect to defaulted interest. The Notes will be payable
as to principal, premium, if any, and interest, if any, at the office or agency
of the Paying Agent and Registrar within or without the City and State of New
York, or, at the option of the Company, payment of interest, if any, may be
made by check mailed to the Holders at their addresses set forth in the
register of Holders; provided that
payment by wire transfer of immediately available funds will be required with
respect to principal of, premium on, if any, interest, if any, on, all Global
Notes and all other Notes the Holders of which will have provided wire transfer
instructions to the Company or the Paying Agent. Such payment will be in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts.

 

(3) PAYING AGENT AND REGISTRAR. Initially, The Bank of New York
Mellon, the Trustee under the Indenture, will act as Paying Agent and
Registrar. The Company may change the Paying Agent or Registrar without prior
notice to the Holders of the Notes. The Company or any of its Subsidiaries may
act as Paying Agent or Registrar.

 

(4) INDENTURE. The Company issued the Notes under a first
supplemental indenture dated as of January 25, 2010 (the “Indenture”) among the Company, the
Guarantors and the Trustee. The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the TIA. The
Notes are subject to all such terms, and Holders are referred to the Indenture
and such Act for a statement of such terms. To the extent any provision of this
Note conflicts with the express provisions of the Indenture, the provisions of
the Indenture shall govern and be controlling. The Notes are unsecured
obligations of the Company. The Indenture does not limit the aggregate
principal amount of Notes that may be issued thereunder.

 

(5) OPTIONAL REDEMPTION.

 

(a)   At any time prior to January 15, 2013,
the Company may on any one or more occasions redeem up to 35% of the aggregate
principal amount of Notes issued under this Indenture (including Additional
Notes, if any), upon not less than 30 nor more than 60 days’ notice at a
redemption price equal to 107.625% of the principal amount, plus accrued and
unpaid interest, if any, to the redemption date, (subject to the rights of
Holders of Notes on the relevant record date to receive interest on the
relevant interest payment date) with the net cash proceeds of one or more
Equity Offerings of the Company; provided that:

 

(i)            at least
65% of the aggregate principal amount of Notes originally issued under the
Indenture (excluding Notes held by the Company and its Subsidiaries) remains
outstanding immediately after the occurrence of such redemption; and

 

(ii)           the
redemption occurs within 90 days of the date of the closing of such Equity
Offering.

 

(b)   At any time prior to January 15, 2014,
may on any one or more occasions redeem all or a part of the Notes, upon not
less than 30 nor more than 60 days’ notice, at a redemption price equal to
100% of the principal amount of the Notes redeemed, plus the Applicable Premium
as of, and accrued and unpaid interest, if any, to the date of redemption,

 

A-3

 

subject
to the rights of holders of notes on the relevant record date to receive
interest due on the relevant interest payment date.

 

(c)   Except pursuant to the preceding paragraphs,
the Notes will not be redeemable at the Company’s option prior to January 15,
2014.

 

(d)   On or after January 15, 2014, the
Company may on any one or more occasions redeem all or a part of the Notes,
upon not less than 30 nor more than 60 days’ notice, at the redemption prices
(expressed as percentages of principal amount) set forth below plus accrued and
unpaid interest on the Notes redeemed, to the applicable redemption date, if
redeemed during the twelve-month period beginning on January 15 of the
years indicated below, subject to the rights of Holders of Notes on the
relevant record date to receive interest on the relevant interest payment date:

 

	
  Year

  	
   

  	
  Percentage

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  2014

  	
   

  	
  103.813

  	
  %

  
	
  2015

  	
   

  	
  102.542

  	
  %

  
	
  2016

  	
   

  	
  101.271

  	
  %

  
	
  2017 and thereafter

  	
   

  	
  100.000

  	
  %

  

 

Unless the Company
defaults in the payment of the redemption price, interest will cease to accrue
on the Notes or portions thereof called for redemption on the applicable
redemption date.

 

(6) MANDATORY REDEMPTION.

 

The Company is not
required to make mandatory redemption or sinking fund payments with respect to
the Notes.

 

(7) REPURCHASE AT THE
OPTION OF HOLDER.

 

(a)   If there is a Change of Control, the Company
will be required to make an offer (a “Change
of Control Offer”) to each Holder to repurchase all or any part (equal
to $2,000 or an integral multiple of $1,000 in excess thereof) of each Holder’s
Notes at a purchase price in cash equal to 101% of the aggregate principal
amount thereof plus accrued and unpaid interest thereon to the date of
purchase, subject to the rights of Holders on the relevant record date to
receive interest due on the relevant interest payment date (the “Change of Control Payment”). Within thirty
days following any Change of Control, the Company will mail a notice to each
Holder setting forth the procedures governing the Change of Control Offer as
required by the Indenture.

 

(b)   If the Company or a Restricted Subsidiary of
the Company consummates any Asset Sales, within thirty days of each date on
which the aggregate amount of Excess Proceeds exceeds $25.0 million, the
Company will commence an offer to all Holders of Notes and all holders of other
Indebtedness that is pari passu with
the Notes containing provisions similar to those set forth in the Indenture
with respect to offers to purchase, prepay or redeem with the proceeds of sales
of assets in accordance with the Indenture to purchase, prepay or redeem the
maximum principal amount of Notes and such other pari passu
Indebtedness (plus all accrued interest on the Indebtedness and the amount of
all fees and expenses, including premiums, incurred in connection therewith)
that may be purchased, prepaid or redeemed out of the Excess Proceeds. The
offer price in any Asset Sale Offer will be equal to 100% of the principal
amount

 

A-4

 

plus
accrued and unpaid interest, if any, to the date of purchase, prepayment or
redemption, subject to the rights of Holders of Notes on the relevant record
date to receive interest due on the relevant interest payment date, and will be
payable in cash. If any Excess Proceeds remain after consummation of an Asset
Sale Offer, the Company may use those Excess Proceeds for any purpose not
otherwise prohibited by the Indenture. If the aggregate principal amount of
Notes and other pari passu Indebtedness tendered
into (or required to be prepaid or redeemed in connection with) such Asset Sale
Offer exceeds the amount of Excess Proceeds, the Trustee will select the Notes
and such other pari passu Indebtedness to be
purchased on a pro rata basis,
based on the amounts tendered or required to be prepaid or redeemed. Upon
completion of each Asset Sale Offer, the amount of Excess Proceeds will be
reset at zero. Holders of Notes that are the subject of an offer to purchase
will receive an Asset Sale Offer from the Company prior to any related purchase
date and may elect to have such Notes purchased by completing the form entitled
“Option of Holder to Elect Purchase”
attached to the Notes.

 

(8) NOTICE OF REDEMPTION. At least 30 days but not more than 60
days before a redemption date, the Company will mail or cause to be mailed, by
first class mail, a notice of redemption to each Holder whose Notes are to be
redeemed at its registered address, except that redemption notices may be
mailed more than 60 days prior to a redemption date if the notice is issued in
connection with a defeasance of the Notes or a satisfaction and discharge of
the Indenture pursuant to Articles 8 or 11 thereof. Notes and portions of Notes
selected will be in amounts of $2,000 or whole multiples of $1,000 in excess
thereof; except that if all of the Notes of a Holder are to be redeemed or
purchased, the entire outstanding amount of Notes held by such Holder shall be
redeemed or purchased.

 

(9) DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in
registered form in denominations of $2,000 and integral multiples of $1,000 in
excess thereof. The transfer of Notes may be registered and Notes may be
exchanged as provided in the Indenture. The Registrar and the Trustee may require
a Holder, among other things, to furnish appropriate endorsements and transfer
documents and the Company may require a Holder to pay any taxes and fees
required by law or permitted by the Indenture. The Company need not exchange or
register the transfer of any Note or portion of a Note selected for redemption,
except for the unredeemed portion of any Note being redeemed in part. Also, the
Company need not exchange or register the transfer of any Notes for a period of
15 days before a selection of Notes to be redeemed or during the period between
a record date and the next succeeding Interest Payment Date.

 

(10) PERSONS DEEMED OWNERS. The registered Holder of a Note may
be treated as the owner of it for all purposes. Only registered Holders have
rights under the Indenture.

 

(11)
AMENDMENT, SUPPLEMENT AND WAIVER. Subject
to certain exceptions, the Indenture or the Notes or the Note Guarantees may be
amended or supplemented with the consent of the Holders of at least a majority
in aggregate principal amount of the then outstanding Notes including
Additional Notes, if any, voting as a single class, and any existing Default or
Event or Default or compliance with any provision of the Indenture or the Notes
or the Note Guarantees may be waived with the consent of the Holders of a
majority in aggregate principal amount of the then outstanding Notes including
Additional Notes, if any, voting as a single class. Without the consent of any
Holder of Notes, the Indenture, the Notes or the Note Guarantees may be amended
or supplemented to cure any ambiguity, defect or inconsistency, to provide for
uncertificated Notes in addition to or in place of certificated Notes, to
provide for the assumption of the Company’s or a Guarantor’s obligations to
Holders of the Notes and Note Guarantees pursuant to the Indenture, to make any
change that would provide any additional rights or benefits to the Holders of
the Notes or that does not adversely affect the legal rights under the
Indenture of any

 

A-5

 

Holder,
to comply with the requirements of the SEC in order to effect or maintain the
qualification of the Indenture under the TIA, to conform the text of the
Indenture, the Note Guarantees or the Notes to any provision of the “Description
of Notes” section of the Company’s prospectus supplement dated January 11,
2010, relating to the initial offering of the Notes, to the extent that such
provision in that “Description of Notes” was intended to be a verbatim
recitation of a provision of the Indenture, the Note Guarantees or the Notes,
which intent may be evidenced by an Officers’ Certificate to that effect; to
provide for the issuance of Additional Notes in accordance with the limitations
set forth in the Indenture; to comply with the procedures of DTC or the Trustee
with respect to the provisions of the Indenture and the Notes relating to
transfers and exchanges of Notes or beneficial interests in the Notes; or to
evidence the release of any Guarantor permitted to be released under the terms
of the Indenture or to allow any Guarantor to execute a supplemental indenture
to the Indenture and/or a Note Guarantee with respect to the Notes.

 

(12)
DEFAULTS AND REMEDIES. Events of Default
include: (i) default for 30 consecutive days in the payment when due of
interest on the Notes; (ii) default in the payment when due (at maturity,
upon redemption or otherwise) of the principal of, or premium, if any, on, the
Notes; (iii) failure by the Company or any of its Restricted Subsidiaries
to comply with Section 5.01 of the Indenture; (iv) failure by the
Company or any of its Restricted Subsidiaries for 30 days to comply with
Sections 4.10 and 4.15 of the Indenture; (v) failure by the Company or any
of its Restricted Subsidiaries for 60 days after written notice to the Company
by the Trustee or the Holders of at least 25% in aggregate principal amount of
the Notes then outstanding voting as a single class to comply with any of the
other agreements in the Indenture; (vi) default under certain other
agreements relating to Indebtedness of the Company which default results in the
acceleration of such Indebtedness prior to its express maturity; (vii) certain
final judgments for the payment of money that remain undischarged for a period
of 60 days; (viii) except as permitted by the Indenture, any Note
Guarantee is held in any judicial proceeding to be unenforceable or invalid or
ceases for any reason to be in full force and effect or any Guarantor or any
Person acting on behalf of any Guarantor denies or disaffirms its obligations
under its Note Guarantee; and (ix) certain events of bankruptcy or
insolvency with respect to the Company or any of its Restricted Subsidiaries
that is a Significant Subsidiary or any group of Restricted Subsidiaries that,
taken together, would constitute a Significant Subsidiary. If any Event of
Default occurs and is continuing, the Trustee or the Holders of at least 25% in
aggregate principal amount of the then outstanding Notes may declare all the
Notes to be due and payable immediately. Notwithstanding the foregoing, in the
case of an Event of Default arising from certain events of bankruptcy or
insolvency, all outstanding Notes will become due and payable immediately
without further action or notice. Holders may not enforce the Indenture or the
Notes except as provided in the Indenture. Subject to certain limitations,
Holders of a majority in aggregate principal amount of the then outstanding
Notes may direct the time, method and place of conducting any proceeding for
exercising any remedy available to the Trustee or exercising any trust or power
conferred on it. The Trustee may withhold from Holders of the Notes notice of
any continuing Default or Event of Default (except a Default or Event of
Default relating to the payment of principal, premium, if any, interest, if
any) if it determines that withholding notice is in their interest. The Holders
of a majority in aggregate principal amount of the then outstanding Notes by
notice to the Trustee may, on behalf of all the Holders, rescind an acceleration
or waive an existing Default or Event of Default and its respective
consequences under the Indenture except a continuing Default or Event of
Default in the payment of principal of, premium on, if any, interest, if any,
on, the Notes (including in connection with an offer to purchase) unless such
Default or Event of Default resulted from an acceleration. The Company is
required to deliver to the Trustee annually a statement regarding compliance
with the Indenture, and the Company is

 

A-6

 

required,
upon becoming aware of any Default or Event of Default, to deliver to the
Trustee a statement specifying such Default or Event of Default.

 

(13) TRUSTEE DEALINGS WITH
COMPANY. The Trustee, in its individual or any other capacity, may
make loans to, accept deposits from, and perform services for the Company or
its Affiliates, and may otherwise deal with the Company or its Affiliates, as
if it were not the Trustee.

 

(14) NO RECOURSE AGAINST OTHERS.
No past, present or future director, officer, employee, direct or indirect
incorporator, Affiliate, stockholder or controlling Person, of the Company or
any Guarantor, as such, or any successor entity, will have any liability for
any obligations of the Company or the Guarantors under the Notes, this
Indenture, the Note Guarantees or for any claim based on, in respect of, or by
reason of, such obligations or their creation. Each Holder of Notes by
accepting a Note waives and releases all such liability. The waiver and release
are part of the consideration for issuance of the Notes. The waiver may not be
effective to waive liabilities under the federal securities laws.

 

(15) AUTHENTICATION.
This Note will not be valid until authenticated by the manual signature of the
Trustee or an authenticating agent.

 

(16) ABBREVIATIONS. Customary
abbreviations may be used in the name of a Holder or an assignee, such as: TEN
COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUST (=
Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

 

(17) CUSIP NUMBERS. Pursuant
to a recommendation promulgated by the Committee on Uniform Security
Identification Procedures, the Company has caused CUSIP numbers to be printed
on the Notes, and the Trustee may use CUSIP numbers in notices of redemption as
a convenience to Holders. No representation is made as to the accuracy of such
numbers either as printed on the Notes or as contained in any notice of redemption,
and reliance may be placed only on the other identification numbers placed
thereon.

 

(18) GOVERNING LAW. THE
INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE
INDENTURE, THIS NOTE AND THE NOTE GUARANTEES WITHOUT GIVING EFFECT TO
APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF
THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

The Company will furnish
to any Holder upon written request and without charge a copy of the Indenture. Requests
may be made to:

 

B&G Foods, Inc.

Four Gatehall Drive, Suite 110

Parsippany, NJ 07054

Attention: Chief
Financial Officer

 

A-7

 

ASSIGNMENT FORM

 

To assign this Note, fill
in the form below:

 

	
  (I) or (we) assign and transfer this Note to:

  	
   

  
	
   

  	
  (Insert
  assignee’s legal name)

  

 

	
   

  
	
  (Insert
  assignee’s soc. sec. or tax I.D. no.)

  
	
   

  
	
   

  
	
   

  
	
   

  
	
   

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

  

 

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

 

	
  Date:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Your Signature:

  	
   

  
	
   

  	
   

  	
  (Sign exactly as your name appears on the face of
  this Note)

  
						

 

	
  Signature Guarantee*:

  	
   

  	
   

  

 

*              Participant in a
recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

 

A-8

 

OPTION OF HOLDER TO ELECT PURCHASE

 

If you want to elect to
have this Note purchased by the Company pursuant to Section 4.10 or 4.15
of the Indenture, check the appropriate box below:

 

	
  oSection 4.10

  	
   

  	
  oSection 4.15

  

 

If you want to elect to
have only part of the Note purchased by the Company pursuant to Section 4.10
or Section 4.15 of the Indenture, state the amount you elect to have
purchased:

 

$                     

 

	
  Date:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Your Signature:

  	
   

  
	
   

  	
   

  	
  (Sign exactly as your name appears on the face of this
  Note)

  
	
   

  	
   

  	
   

  
	
   

  	
  Tax Identification No.:

  	
   

  
							

 

	
  Signature Guarantee*:

  	
   

  	
   

  

 

*              Participant in a
recognized Signature Guarantee Medallion Program (or other signature guarantor
acceptable to the Trustee).

 

A-9

 

SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

 

The following exchanges
of a part of this Global Note for an interest in another Global Note or for a
Definitive Note, or exchanges of a part of another Global Note or Definitive
Note for an interest in this Global Note, have been made:

 

	
  Date of Exchange

  	
   

  	
  Amount of decrease in

  Principal Amount

  at maturity of

  this Global Note

  	
   

  	
  Amount of increase in

  Principal Amount

  at maturity of

  this Global Note

  	
   

  	
  Principal Amount

  at maturity of this

  Global Note following

  such decrease

  (or increase)

  	
   

  	
  Signature of authorized

  officer of Trustee or

  Custodian

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

A-10

 

EXHIBIT B

 

FORM OF NOTATION OF GUARANTEE

 

For value received, each
Guarantor (which term includes any successor Person under the Indenture) has,
jointly and severally, unconditionally guaranteed, to the extent set forth in
the Indenture and subject to the provisions in the first supplemental indenture
dated as of January 25, 2010 (the “Indenture”)
among B&G Foods, Inc. (the “Company”), the
Guarantors party thereto and The Bank of New York Mellon, as trustee (the “Trustee”), (a) the due and punctual payment of the
principal of, premium on, if any, and interest, if any, on, the Notes, whether
at maturity, by acceleration, redemption or otherwise, the due and punctual
payment of interest on overdue principal of, premium on, if any, and interest,
if any, on, the Notes, if any, if lawful, and the due and punctual performance
of all other obligations of the Company to the Holders or the Trustee all in
accordance with the terms of the Indenture and (b) in case of any
extension of time of payment or renewal of any Notes or any of such other
obligations, that the same will be promptly paid in full when due or performed
in accordance with the terms of the extension or renewal, whether at stated
maturity, by acceleration or otherwise. 
The obligations of the Guarantors to the Holders of Notes and to the
Trustee pursuant to the Note Guarantee and the Indenture are expressly set
forth in Article 10 of the Indenture and reference is hereby made to the
Indenture for the precise terms of the Note Guarantee.

 

Capitalized terms used
but not defined herein have the meanings given to them in the Indenture.

 

	
   

  	
  [NAME OF GUARANTOR(S)]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

B-1

 

EXHIBIT C

 

FORM OF SUPPLEMENTAL INDENTURE

TO BE DELIVERED BY SUBSEQUENT GUARANTORS

 

SUPPLEMENTAL INDENTURE
(this “Supplemental Indenture”), dated as of
                                ,
200    , among                                     
(the “Guaranteeing Subsidiary”), a subsidiary
of B&G Foods, Inc. (or its permitted successor), a Delaware
corporation (the “Company”), the Company, the other
Guarantors (as defined in the Indenture referred to herein) and The Bank of New
York Mellon, as trustee under the Indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Company has
heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of January 25, 2010 providing for
the issuance of 7.625% Senior Notes due 2018 (the “Notes”);

 

WHEREAS, the Indenture
provides that under certain circumstances the Guaranteeing Subsidiary shall
execute and deliver to the Trustee a supplemental indenture pursuant to which
the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s
Obligations under the Notes and the Indenture on the terms and conditions set
forth herein (the “Note Guarantee”);
and

 

WHEREAS, pursuant to Section 9.01
of the Indenture, the Trustee is authorized to execute and deliver this
Supplemental Indenture.

 

NOW, THEREFORE, in
consideration of the foregoing and for other good and valuable consideration,
the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and
the Trustee mutually covenant and agree for the equal and ratable benefit of
the Holders of the Notes as follows:

 

1.             CAPITALIZED TERMS. 
Capitalized terms used herein without definition shall have the meanings
assigned to them in the Indenture.

 

2.             AGREEMENT TO GUARANTEE. 
The Guaranteeing Subsidiary hereby agrees to provide an unconditional
Guarantee on the terms and subject to the conditions set forth in the Note
Guarantee and in the Indenture including but not limited to Article 10
thereof.

 

4.             NO RECOURSE AGAINST OTHERS.  No past, present or future director, officer,
employee, incorporator, Affiliate, stockholder, controlling Person or agent of
the Company or any Guarantor, as such, will have any liability for any
obligations of the Company the Guarantors under the Notes, any Note Guarantees,
the Indenture or for any claim based on, in respect of, or by reason of, such
obligations or their creation.  Each
Holder of Notes by accepting a Note waives and releases all such
liability.  The waiver and release are
part of the consideration for issuance of the Notes.  The waiver may not be effective to waive
liabilities under the federal securities laws.

 

5.             NEW YORK LAW TO GOVERN. 
THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO
CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE
PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS
OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

C-1

 

EXHIBIT
C

 

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

 

7.             EFFECT OF HEADINGS. 
The Section headings herein are for convenience only and shall not
affect the construction hereof.

 

8.             THE TRUSTEE.  The
Trustee shall not be responsible in any manner whatsoever for or in respect of
the validity or sufficiency of this Supplemental Indenture or for or in respect
of the recitals contained herein, all of which recitals are made solely by the
Guaranteeing Subsidiary and the Company.

 

C-2

 

EXHIBIT
C

 

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

 

Dated: 
                              ,
20         

 

	
   

  	
  [GUARANTEEING SUBSIDIARY]

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  B&G FOODS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  [EXISTING GUARANTORS]

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK MELLON,

  
	
   

  	
    as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Authorized Signatory

  

 

C-3Exhibit 4.4

 

FIRST SUPPLEMENTAL INDENTURE

 

FIRST SUPPLEMENTAL
INDENTURE (“First Supplemental Indenture”), dated as
of January 25, 2010, among B&G Foods, Inc., a Delaware
Corporation, (the “Company”) and
each of the Guarantors party thereto (the “Guarantors”)
and The Bank of New York Mellon, as trustee (the “Trustee”).

 

WITNESSETH:

 

WHEREAS,
the Company, the Guarantors and the Trustee have entered into an Indenture,
dated as of October 14, 2004 (the “Original Indenture”)
governing the Company’s 12.0% Senior Subordinated Notes due 2016 (the “Notes”);

 

WHEREAS,
under Section 9.02 of the Original Indenture, the Company, the Guarantors
and the Trustee may amend the Original Indenture with the consent of the
Holders of at least a majority in principal amount of Notes then outstanding
voting as a single class pursuant to the terms set forth therein;

 

WHEREAS,
Holders of a majority in principal amount of Notes outstanding voting as a
single class have consented to the amendments set forth herein in connection
with the tender offer and consent solicitation of the Company commencing on January 8,
2010, with respect to the Notes (the “Tender Offer”);

 

WHEREAS,
the Company and the Guarantors desire to enter into this First Supplemental
Indenture on the date set forth above for the purpose of making the amendments
set forth herein, which amendments will become operative as set forth in Section 4
herein; and

 

WHEREAS,
all other conditions and requirements necessary to make this First Supplemental
Indenture a valid, binding and legal instrument enforceable in accordance with
its terms have been performed and fulfilled by the parties hereto, and the
execution and delivery thereof have been in all respects duly authorized by the
parties hereto.

 

NOW,
THEREFORE, for
and in consideration of the foregoing premises, it is mutually covenanted and
agreed, for the equal and proportionate benefit of all Holders of the Notes, as
follows:

 

1.             DEFINITIONS.  For all
purposes of the Original Indenture and this First Supplemental Indenture, except
as otherwise expressly provided or unless the context otherwise requires:

 

(a)           References.  The terms
“herein,” “hereof” and other words of similar import refer to the Original
Indenture and this First Supplemental Indenture as a whole and not to any particular
article, section or other subdivision.

 

(b)           Capitalized Terms.  All
capitalized terms used in this First Supplemental Indenture but not defined
herein shall have the meanings assigned to such terms in the Original
Indenture.

 

2.             ELIMINATION AND AMENDMENT OF CERTAIN DEFINED TERMS IN ARTICLE I OF THE
ORIGINAL INDENTURE.  From and
as of the Operational Time (as defined in Section 4(b) of this First
Supplemental Indenture), any defined terms appearing in Article 1 of the
Original Indenture or elsewhere in the Original Indenture, and all references
thereto, that are used solely in the sections, subsections or provisions of the
Original Indenture deleted from the Original Indenture by virtue of Section 3
of this First Supplemental Indenture shall be deleted in their entireties from Section 1.01
of the Original Indenture.

 

 

3.             AMENDMENT OF CERTAIN PROVISIONS OF ARTICLES 3, 4, 5 AND 6 AND OTHER
RELATED PROVISIONS OF THE ORIGINAL INDENTURE.

 

(a)           Amendment of Section 3.09 of the Original Indenture.  From and as of the Operational Time (as
defined in Section 4(b) of this First Supplemental Indenture), Section 3.09
of the Original Indenture shall be amended by deleting such section in its
entirety, together with any references thereto in the Original Indenture.

 

(b)           Amendment of Article 4 of Original Indenture.  From and as of the Operational Time (as
defined in Section 4(b) of this First Supplemental Indenture), Article 4
of the Original Indenture shall be amended by deleting Sections 4.03, 4.04,
4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.15, 4,16, 4.17, 4.18 and
4.19 in their entireties, together with any references thereto in the Original
Indenture.

 

(c)           Amendment of Section 5.01 of Original Indenture.  From and as of the Operational Time (as defined
in Section 4(b) of this First Supplemental Indenture), Section 5.01
of the Original Indenture shall be amended by

 

(i)            adding
“and” after “;” at the end of clause (2);

 

(ii)           deleting
“; and” at the end of clause (3) and substituting “.” therefor; and

 

(iii)          deleting
clause (4) in its entirety.

 

(iv)          deleting
the following language: “In addition, the Company shall not, directly or
indirectly, lease all or substantially all of its properties or assets, in one
or more related transactions, to any other Person.  This Section 5.01 will not apply to (1) a
merger of the Company with an Affiliate solely for the purpose of
reincorporating the Company in another jurisdiction; or (2) any
consolidation or merger, or any sale, assignment, transfer, conveyance or other
disposition of assets between or among the Company and any of the Guarantors.”

 

(d)           Amendment of Article 6 of the Original Indenture.  From and as of the Operational Time, Article 6
of the Original Indenture shall be amended by: (i) deleting Sections 6.01(4),
(5), (6), (7) and (10) in their entireties, together with any
references thereto in the Original Indenture; (ii) adding “and” after “;”
at the end of Section 6.01(1); and (iii) deleting “;” at the end of Section 6.01(2) and
substituting “.” therefor.

 

(e)           Amendment of Additional Provisions of Original Indenture.  From and as of the Operational Time, any and
all additional provisions of the Original Indenture shall be deemed amended to
reflect the intentions of the amendments provided for in this Section 3
and elsewhere herein.

 

4.             EFFECT OF FIRST SUPPLEMENTAL INDENTURE; OPERATION OF AMENDMENTS.

 

(a)           Effect of First Supplemental Indenture.  In accordance with Section 9.04 of the
Original Indenture, upon the execution of this First Supplemental Indenture,
the Original Indenture shall be modified in accordance herewith, and this First
Supplemental Indenture shall form a part of the Original Indenture for all
purposes; and every Holder of the Notes heretofore authenticated and delivered
under the Original Indenture shall be bound hereby.  Except as modified by this First Supplemental
Indenture, the Original Indenture and the Notes, and the rights of the Holders
of the Notes thereunder, shall remain unchanged and in full force and effect.

 

2

 

(b)           Operation of Amendments. 
The provisions of this First Supplemental Indenture shall not become
operative until the date and time (such date and time, the “Operational Time”)
the Company notifies (in writing) The Bank of New York Mellon, as depositary
for the Notes under the Tender Offer (the “Depositary”), that the Company has
purchased Notes tendered and not withdrawn pursuant to the Tender Offer.  In the event the Company notifies (in
writing) the Depositary that it has withdrawn or terminated the Tender Offer
prior to the Operational Time, this First Supplemental Indenture shall be
terminated and be of no force or effect and the Original Indenture shall not be
modified hereby.  The Company shall
promptly notify the Trustee in writing of any notice it gives to the
Depositary.

 

5.             MATTERS CONCERNING THE TRUSTEE.  The Trustee accepts the trusts of the
Original Indenture, as amended and supplemented by this First Supplemental
Indenture, and agrees to perform the same, but only upon the terms and
conditions set forth in the Original Indenture, as amended and supplemented by
this First Supplemental Indenture, to which the parties hereto and the Holders
from time to time of the Notes agree and, except as expressly set forth in the
Original Indenture, as amended and supplemented by this First Supplemental
Indenture, shall incur no liability or responsibility in respect thereof.  Without limiting the generality of the
foregoing, the recitals contained herein shall be taken as the statements of
the Company, and the Trustee assumes no responsibility for their correctness,
and the Trustee makes no representation as to the validity or sufficiency of
this First Supplemental Indenture or any consents thereto.

 

6.             RATIFICATION AND CONFIRMATION OF THE ORIGINAL INDENTURE.  Except as expressly amended hereby, the
Original Indenture is in all respects ratified and confirmed and all the terms,
provisions and conditions thereof shall be and remain in full force and effect.

 

7.             MISCELLANEOUS.

 

(a)           Binding Effect.  All
agreements of the Company in this First Supplemental Indenture shall be binding
upon the Company’s successors.  All
agreements of the Trustee in this First Supplemental Indenture shall be binding
upon its successors.

 

(b)           Governing Law.  THE
INTERNAL LAWS OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS
FIRST SUPPLEMENTAL INDENTURE, THE NOTES AND THE NOTE GUARANTEES WITHOUT GIVING
EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE
APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

(c)           Conflict with Trust Indenture Act of 1939.  If and to the extent that any provision of
this First Supplemental Indenture limits, qualifies or conflicts with the
duties imposed by Sections 310-317 of the Trust Indenture Act of 1939, as
amended (the “Trust Indenture Act”), by operation of Section 318(c) of
the Trust Indenture Act, the imposed duties shall control.

 

(d)           Headings for Convenience of Reference.  The titles and headings of the sections of
this First Supplemental Indenture have been inserted for convenience of
reference only, are not to be considered a part hereof and shall in no way
modify or restrict any of the terms or provisions hereof.

 

(e)           Counterparts.  This First
Supplemental Indenture may be executed in any number of counterparts, each of
which so executed shall be deemed to be an original, but such counterparts
shall constitute but one and the same agreement.

 

(f)            Severability.  In case
any provision of this First Supplemental Indenture shall be determined to be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the 

 

3

 

remaining provisions hereof or of the Original
Indenture shall not in any way be affected or impaired thereby.

 

(g)           Effect Upon Original Indenture.  This First Supplemental Indenture shall form
a part of Original Indenture for all purposes, and every Holder of Notes
heretofore or hereafter authenticated and delivered shall be bound hereby.

 

(signature page follows)

 

4

 

IN
WITNESS WHEREOF, the Company and the Trustee have caused this First
Supplemental Indenture to be duly executed by their respective officers
thereunto duly authorized and their respective corporate seals, duly attested,
to be hereunto affixed all as of the day and the year first above written.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  B&G FOODS, INC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert C. Cantwell

  
	
   

  	
   

  	
  Name:  Robert C. Cantwell

  
	
   

  	
   

  	
  Title:  Executive Vice President of Finance

  

 

 

EXISTING GUARANTORS:

 

BGH HOLDINGS, INC.

 

BLOCH & GUGGENHEIMER, INC.

 

BURNHAM & MORRILL COMPANY

 

WILLIAM UNDERWOOD COMPANY

 

 

	
   

  	
  By:

  	
  /s/ Robert C. Cantwell

  
	
   

  	
   

  	
  Name:  Robert C. Cantwell

  
	
   

  	
   

  	
  Title:  Executive Vice President of Finance

  

 

 

	
   

  	
  TRUSTEE

  
	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK
  MELLON,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Franca M. Ferrera

  
	
   

  	
   

  	
    Authorized
  Signatory

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