Document:

exv4w2

 

Exhibit 4.2

[Form of Subordinated Indenture]

 

COPANO ENERGY, L.L.C.

as Issuer,

any Subsidiary Guarantors party hereto,

and

[___],

as Trustee

INDENTURE

Dated as of ___

Debt Securities

 

 

 

CROSS-REFERENCE TABLE

	 	 	 	 	 	 	 
	TIA Section	 	Indenture Section
	310

	 	(a)
	 	 	7.10	 
	 

	 	(b)
	 	 	7.10	 
	 

	 	(c)
	 	 	N.A.	 
	311

	 	(a)
	 	 	7.11	 
	 

	 	(b)
	 	 	7.11	 
	 

	 	(c)
	 	 	N.A.	 
	312

	 	(a)
	 	 	5.01	 
	 

	 	(b)
	 	 	5.02	 
	 

	 	(c)
	 	 	5.02	 
	313

	 	(a)
	 	 	5.03	 
	 

	 	(b)
	 	 	5.03	 
	 

	 	(c)
	 	 	13.03	 
	 

	 	(d)
	 	 	5.03	 
	314

	 	(a)
	 	 	4.05	 
	 

	 	(b)
	 	 	N.A.	 
	 

	 	(c)(1)
	 	 	13.05	 
	 

	 	(c)(2)
	 	 	13.05	 
	 

	 	(c)(3)
	 	 	N.A.	 
	 

	 	(d)
	 	 	N.A.	 
	 

	 	(e)
	 	 	13.05	 
	 

	 	(f)
	 	 	N.A.	 
	315

	 	(a)
	 	 	7.01	 
	 

	 	(b)
	 	6.07 & 13.03

	 

	 	(c)
	 	 	7.01	 
	 

	 	(d)
	 	 	7.01	 
	 

	 	(e)
	 	 	6.08	 
	316

	 	(a) (last
sentence)
	 	 	1.01	 
	 

	 	(a)(1)(A)
	 	 	6.06	 
	 

	 	(a)(1)(B)
	 	 	6.06	 
	 

	 	(a)(2)
	 	 	9.01	(d)
	 

	 	(b)
	 	 	6.04	 
	 

	 	(c)
	 	 	5.04	 
	317

	 	(a)(1)
	 	 	6.02	 
	 

	 	(a)(2)
	 	 	6.02	 
	 

	 	(b)
	 	 	4.04	 
	318

	 	(a)
	 	 	13.07	 

 

			
	

N.A. means Not Applicable
	 
	
NOTE: This Cross-Reference table shall not, for any purpose, be deemed part of this Indenture.

i

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	ARTICLE I
	DEFINITIONS AND INCORPORATION BY REFERENCE
	 
	 	 	 	 	 	 
	Section 1.01.

	 	Definitions
	 	 	1	 
	Section 1.02.

	 	Other Definitions
	 	 	6	 
	Section 1.03.

	 	Incorporation by Reference of Trust Indenture Act
	 	 	7	 
	Section 1.04.

	 	Rules of Construction
	 	 	7	 
	 
	 	 	 	 	 	 
	ARTICLE II

	DEBT SECURITIES

	 
	 	 	 	 	 	 
	Section 2.01.

	 	Forms Generally
	 	 	7	 
	Section 2.02.

	 	Form of Trustee’s Certificate of Authentication
	 	 	8	 
	Section 2.03.

	 	Principal Amount; Issuable in Series
	 	 	8	 
	Section 2.04.

	 	Execution of Debt Securities
	 	 	10	 
	Section 2.05.

	 	Authentication and Delivery of Debt Securities
	 	 	11	 
	Section 2.06.

	 	Denomination of Debt Securities
	 	 	12	 
	Section 2.07.

	 	Registration of Transfer and Exchange
	 	 	13	 
	Section 2.08.

	 	Temporary Debt Securities
	 	 	14	 
	Section 2.09.

	 	Mutilated, Destroyed, Lost or Stolen Debt Securities
	 	 	15	 
	Section 2.10.

	 	Cancellation of Surrendered Debt Securities
	 	 	15	 
	Section 2.11.

	 	Provisions of the Indenture and Debt Securities for the Sole Benefit of the
Parties and the Holders
	 	 	16	 
	Section 2.12.

	 	Payment of Interest; Interest Rights Preserved
	 	 	16	 
	Section 2.13.

	 	Securities Denominated in Dollars
	 	 	16	 
	Section 2.14.

	 	Wire Transfers
	 	 	16	 
	Section 2.15.

	 	Securities Issuable in the Form of a Global Security
	 	 	16	 
	Section 2.16.

	 	Medium Term Securities
	 	 	19	 
	Section 2.17.

	 	Defaulted Interest
	 	 	20	 
	Section 2.18.

	 	CUSIP Numbers
	 	 	20	 
	 
	 	 	 	 	 	 
	ARTICLE III

	REDEMPTION OF DEBT SECURITIES

	 
	 	 	 	 	 	 
	Section 3.01.

	 	Applicability of Article
	 	 	21	 
	Section 3.02.

	 	Notice of Redemption; Selection of Debt Securities
	 	 	21	 
	Section 3.03.

	 	Payment of Debt Securities Called for Redemption
	 	 	22	 
	Section 3.04.

	 	Mandatory and Optional Sinking Funds
	 	 	23	 
	Section 3.05.

	 	Redemption of Debt Securities for Sinking Fund
	 	 	23	 
	 
	 	 	 	 	 	 
	ARTICLE IV

	PARTICULAR COVENANTS OF THE COMPANY

	 
	 	 	 	 	 	 
	Section 4.01.

	 	Payment of Principal of, and Premium, If Any, and Interest on, Debt Securities
	 	 	25	 

ii

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	Section 4.02.

	 	Maintenance of Offices or Agencies for Registration of Transfer, Exchange and
Payment of Debt Securities
	 	 	25	 
	Section 4.03.

	 	Appointment to Fill a Vacancy in the Office of Trustee
	 	 	26	 
	Section 4.04.

	 	Duties of Paying Agents, etc.
	 	 	26	 
	Section 4.05.

	 	SEC Reports; Financial Statements
	 	 	27	 
	Section 4.06.

	 	Compliance Certificate
	 	 	27	 
	Section 4.07.

	 	Further Instruments and Acts
	 	 	28	 
	Section 4.08.

	 	Existence
	 	 	28	 
	Section 4.09.

	 	Maintenance of Properties
	 	 	28	 
	Section 4.10.

	 	Payment of Taxes and Other Claims
	 	 	28	 
	Section 4.11.

	 	Waiver of Certain Covenants
	 	 	28	 
	 
	 	 	 	 	 	 
	ARTICLE V

	HOLDERS’ LISTS AND REPORTS BY THE TRUSTEE

	 
	 	 	 	 	 	 
	Section 5.01.

	 	Company to Furnish Trustee Information as to Names and Addresses of Holders;
Preservation of Information
	 	 	29	 
	Section 5.02.

	 	Communications to Holders
	 	 	29	 
	Section 5.03.

	 	Reports by Trustee
	 	 	29	 
	Section 5.04.

	 	Record Dates for Action by Holders
	 	 	30	 
	 
	 	 	 	 	 	 
	ARTICLE VI

	REMEDIES OF THE TRUSTEE AND HOLDERS IN EVENT OF DEFAULT

	 
	 	 	 	 	 	 
	Section 6.01.

	 	Events of Default
	 	 	30	 
	Section 6.02.

	 	Collection of Debt by Trustee, etc.
	 	 	32	 
	Section 6.03.

	 	Application of Moneys Collected by Trustee
	 	 	33	 
	Section 6.04.

	 	Limitation on Suits by Holders
	 	 	34	 
	Section 6.05.

	 	Remedies Cumulative; Delay or Omission in Exercise of Rights Not a Waiver of
Default
	 	 	35	 
	Section 6.06.

	 	Rights of Holders of Majority in Principal Amount of Debt Securities to Direct
Trustee and to Waive Default
	 	 	35	 
	Section 6.07.

	 	Trustee to Give Notice of Defaults Known to It, but May Withhold Such Notice in
Certain Circumstances
	 	 	36	 
	Section 6.08.

	 	Requirement of an Undertaking to Pay Costs in Certain Suits under the Indenture or
Against the Trustee
	 	 	36	 
	 
	 	 	 	 	 	 
	ARTICLE VII

	CONCERNING THE TRUSTEE

	 
	 	 	 	 	 	 
	Section 7.01.

	 	Certain Duties and Responsibilities
	 	 	36	 
	Section 7.02.

	 	Certain Rights of Trustee
	 	 	38	 
	Section 7.03.

	 	Trustee Not Liable for Recitals in Indenture or in Debt Securities
	 	 	39	 
	Section 7.04.

	 	Trustee, Paying Agent or Registrar May Own Debt Securities
	 	 	39	 
	Section 7.05.

	 	Moneys Received by Trustee to Be Held in Trust
	 	 	39	 
	Section 7.06.

	 	Compensation and Reimbursement
	 	 	39	 
	Section 7.07.

	 	Right of Trustee to Rely on an Officers’ Certificate Where No Other Evidence
Specifically Prescribed
	 	 	40	 
	Section 7.08.

	 	Separate Trustee; Replacement of Trustee
	 	 	40	 

iii

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	Section 7.09.

	 	Successor Trustee by Merger
	 	 	41	 
	Section 7.10.

	 	Eligibility; Disqualification
	 	 	42	 
	Section 7.11.

	 	Preferential Collection of Claims Against Company
	 	 	42	 
	Section 7.12.

	 	Compliance with Tax Laws
	 	 	42	 
	 
	 	 	 	 	 	 
	ARTICLE VIII

	CONCERNING THE HOLDERS

	 
	 	 	 	 	 	 
	Section 8.01.

	 	Evidence of Action by Holders
	 	 	42	 
	Section 8.02.

	 	Proof of Execution of Instruments and of Holding of Debt Securities
	 	 	42	 
	Section 8.03.

	 	Who May Be Deemed Owner of Debt Securities
	 	 	43	 
	Section 8.04.

	 	Instruments Executed by Holders Bind Future Holders
	 	 	43	 
	 
	 	 	 	 	 	 
	ARTICLE IX

	SUPPLEMENTAL INDENTURES

	 
	 	 	 	 	 	 
	Section 9.01.

	 	Purposes for Which Supplemental Indenture May Be Entered into Without Consent of
Holders
	 	 	44	 
	Section 9.02.

	 	Modification of Indenture with Consent of Holders of Debt Securities
	 	 	46	 
	Section 9.03.

	 	Effect of Supplemental Indentures
	 	 	47	 
	Section 9.04.

	 	Debt Securities May Bear Notation of Changes by Supplemental Indentures
	 	 	47	 
	 
	 	 	 	 	 	 
	ARTICLE X

	CONSOLIDATION, MERGER, SALE OR CONVEYANCE

	 
	 	 	 	 	 	 
	Section 10.01.

	 	Consolidations and Mergers of the Company
	 	 	47	 
	Section 10.02.

	 	Rights and Duties of Successor Company
	 	 	48	 
	 
	 	 	 	 	 	 
	ARTICLE XI

	SATISFACTION AND DISCHARGE OF

	INDENTURE; DEFEASANCE; UNCLAIMED MONEYS

	 
	 	 	 	 	 	 
	Section 11.01.

	 	Applicability of Article
	 	 	49	 
	Section 11.02.

	 	Satisfaction and Discharge of Indenture; Defeasance
	 	 	49	 
	Section 11.03.

	 	Conditions of Defeasance
	 	 	50	 
	Section 11.04.

	 	Application of Trust Money
	 	 	51	 
	Section 11.05.

	 	Repayment to Company
	 	 	51	 
	Section 11.06.

	 	Indemnity for U.S. Government Obligations
	 	 	51	 
	Section 11.07.

	 	Reinstatement
	 	 	51	 
	 
	 	 	 	 	 	 
	ARTICLE XII

	SUBORDINATION OF DEBT SECURITIES AND GUARANTEE

	Section 12.01.

	 	Applicability of Article; Agreement To Subordinate
	 	 	52	 
	Section 12.02.

	 	Liquidation, Dissolution, Bankruptcy
	 	 	52	 
	Section 12.03.

	 	Default on Senior Indebtedness
	 	 	52	 
	Section 12.04.

	 	Acceleration of Payment of Debt Securities
	 	 	53	 
	Section 12.05.

	 	When Distribution Must Be Paid Over
	 	 	53	 
	Section 12.06.

	 	Subrogation
	 	 	54	 

iv

 

	 	 	 	 	 	 	 
	 	 	 	 	Page
	Section 12.07.

	 	Relative Rights
	 	 	54	 
	Section 12.08.

	 	Subordination May Not Be Impaired by Company
	 	 	54	 
	Section 12.09.

	 	Rights of Trustee and Paying Agent
	 	 	54	 
	Section 12.10.

	 	Distribution or Notice to Representative
	 	 	55	 
	Section 12.11.

	 	Article XII Not to Prevent Defaults or Limit Right to Accelerate
	 	 	55	 
	Section 12.12.

	 	Trust Moneys Not Subordinated
	 	 	55	 
	Section 12.13.

	 	Trustee Entitled to Rely
	 	 	55	 
	Section 12.14.

	 	Trustee to Effectuate Subordination
	 	 	55	 
	Section 12.15.

	 	Trustee Not Fiduciary for Holders of Senior Indebtedness
	 	 	56	 
	Section 12.16.

	 	Reliance by Holders of Senior Indebtedness on Subordination Provisions
	 	 	56	 
	 
	 	 	 	 	 	 
	ARTICLE XIII

	MISCELLANEOUS PROVISIONS

	 
	 	 	 	 	 	 
	Section 13.01.

	 	Successors and Assigns of Company Bound by Indenture
	 	 	56	 
	Section 13.02.

	 	Acts of Board, Committee or Officer of Successor Company Valid
	 	 	56	 
	Section 13.03.

	 	Required Notices or Demands
	 	 	56	 
	Section 13.04.

	 	Indenture and Debt Securities to Be Construed in Accordance with the Laws of the
State of New York
	 	 	57	 
	Section 13.05.

	 	Officers’ Certificate and Opinion of Counsel to Be Furnished upon Application or
Demand by the Company
	 	 	57	 
	Section 13.06.

	 	Payments Due on Legal Holidays
	 	 	58	 
	Section 13.07.

	 	Provisions Required by TIA to Control
	 	 	58	 
	Section 13.08.

	 	Computation of Interest on Debt Securities
	 	 	58	 
	Section 13.09.

	 	Rules by Trustee, Paying Agent and Registrar
	 	 	58	 
	Section 13.10.

	 	No Recourse Against Others
	 	 	58	 
	Section 13.11.

	 	Severability
	 	 	59	 
	Section 13.12.

	 	Effect of Headings
	 	 	59	 
	Section 13.13.

	 	Indenture May Be Executed in Counterparts
	 	 	59	 
	 
	 	 	 	 	 	 
	ARTICLE XIV

	GUARANTEE

	 
	 	 	 	 	 	 
	Section 14.01.

	 	Unconditional Guarantee
	 	 	59	 
	Section 14.02.

	 	Execution and Delivery of Guarantee
	 	 	61	 
	Section 14.03.

	 	Limitation on Subsidiary Guarantors’ Liability
	 	 	61	 
	Section 14.04.

	 	Release of Subsidiary Guarantors from Guarantee
	 	 	62	 
	Section 14.05.

	 	Subsidiary Guarantor Contribution
	 	 	62	 

Notation of Guarantee Annex A

v

 

     THIS INDENTURE dated as of                      is among Copano Energy L.L.C., a Delaware limited
liability company, (the “Company”), any Subsidiary Guarantors (as defined herein party hereto and
[                                        ], a                         
                , as trustee (the “Trustee”).

RECITALS OF THE COMPANY AND ANY SUBSIDIARY GUARANTORS

     The Company and any Subsidiary Guarantors have duly authorized the execution and delivery of
this Indenture to provide for the issuance from time to time of the Company’s debentures, notes,
bonds or other evidences of indebtedness to be issued in one or more series unlimited as to
principal amount (herein called the “Debt Securities”), which Debt Securities may be guaranteed by
each of the Subsidiary Guarantors an may be subordinated in right of payment to Senior
Indebtedness, as in this Indenture provided.

     All things necessary to make this Indenture a valid agreement of the Company and any
Subsidiary Guarantors, in accordance with its terms, have been done.

NOW, THEREFORE, THIS INDENTURE WITNESSETH

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

ARTICLE I

DEFINITIONS AND INCORPORATION BY REFERENCE

     Section 1.01. Definitions.

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

     “Agent” means any Registrar or paying agent.

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

     “Board of Directors” means the Board of Directors of the Company or any authorized committee
of the Board of Directors of the Company or any directors and/or officers of the Company to whom
such Board of Directors or such committee shall have duly delegated its authority to act hereunder.
If the Company shall change its form of entity to other than a limited liability

 

 

Company, the references to the Board of Directors of the Company shall mean the Board of
Directors (or other comparable governing body) of the Company.

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

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

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

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

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

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

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

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

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

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

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

     “GAAP” means generally accepted accounting principles in the United States, as in effect from
time to time.

2

 

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

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

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

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

     “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City
of Houston, Texas, City of New York, 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 for the intervening period.

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

     “Officer” means, with respect to a Person, the Chairman of the Board, the President, any Vice
President, the Treasurer, any Assistant Treasurer, Controller, Secretary or any Assistant Secretary
of such Person.

     “Officers’ Certificate” means a certificate signed by two Officers of the Company, one of whom
must be the Company’s chief executive officer, chief financial officer or chief accounting

3

 

officer (or if the Company shall change its form of entity to other than a limited liability Company, by
Persons, officers, members, agents and others holding positions comparable to those of the
foregoing nature, as applicable).

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

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

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

	 	(a)	 	Debt Securities of that series theretofore canceled by the Trustee or delivered
to the Trustee for cancellation;
	 
	 	(b)	 	Debt Securities of that series for whose payment or redemption money in the
necessary amount has been theretofore deposited with the Trustee or any paying agent
(other than the Company) in trust or set aside and segregated in trust by the Company
(if the Company shall act as its own paying agent) for the Holders of such Debt
Securities; provided, that, if such Debt Securities are to be redeemed, notice of such
redemption has been duly given pursuant to this Indenture or provision therefor
satisfactory to the Trustee has been made; and
	 
	 	(c)	 	Debt Securities of that series which have been paid pursuant to Section 2.09 or
in exchange for or in lieu of which other Debt Securities have been authenticated and
delivered pursuant to this Indenture, other than any such Debt Securities in respect of
which there shall have been presented to the Trustee proof satisfactory to it that such
Debt Securities are held by a bona fide purchaser in whose hands such Debt Securities
are valid obligations of the Company;

provided, however, that in determining whether the Holders of the requisite principal amount of the
Outstanding Debt Securities of any series have given any request, demand, authorization, direction,
notice, consent or waiver hereunder, Debt Securities owned by the Company or any other obligor upon
the Debt Securities or any Affiliate of the Company or of such other obligor shall be disregarded
and deemed not to be Outstanding, except that, in determining whether the Trustee shall be
protected in relying upon any such request, demand, authorization, direction, notice, consent or
waiver, only Debt Securities which a Trust Officer actually knows to be so owned shall be so
disregarded. Debt Securities so owned which have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to
act with respect to such Debt Securities and that the pledgee is not the Company or any other
obligor upon the Debt Securities or an Affiliate of the Company or of such other obligor. In
determining whether the Holders of the requisite principal amount of Outstanding Debt Securities
have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the
principal amount of an Original Issue Discount Debt Security

4

 

that shall be deemed to be Outstanding for such purposes shall be the amount of the principal
thereof that would be due and payable as of the date of such determination upon a declaration of
acceleration of the maturity thereof pursuant to Section 6.01.

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

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

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

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

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

     “SEC” means the Securities and Exchange Commission.

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

     “Senior Indebtedness,” unless otherwise provided with respect to the Debt Securities of a
series as contemplated by Section 2.03, means (1) all Debt of the Subsidiary Guarantors or the
Company, whether currently outstanding or hereafter issued, unless, by the terms of the instrument
creating or evidencing such Debt, it is provided that such Debt is subordinate or not superior in
right of payment to the Debt Securities, in the case of the Company, or the Guarantee, in the case
of the Subsidiary Guarantors, or to other Debt which is pari passu with or subordinated to the Debt
Securities, in the case of the Company, or the Guarantee, in the case of the Subsidiary Guarantors,
and (2) any modifications, refunding, deferrals, renewals, or extensions of any such Debt or
securities, notes or other evidence of Debt issued in exchange for such Debt; provided that in no
event shall “Senior Indebtedness” include (a) Debt evidenced by the Debt Securities or any
Guarantee, (b) Debt of any of the Subsidiary Guarantors or the Company owed or owing to any
Subsidiary of the Company, (c) Debt of any of the Subsidiary Guarantors owed or owing to the
Company, (d) Debt to trade creditors, (e) any liability for taxes owed or owing by the Subsidiary
Guarantors or the Company or (f) Debt of any Subsidiary Guarantor in the event there is no series
of Debt Securities Outstanding that is entitled to the benefits of a Guarantee.

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     “Stated Maturity” means, with respect to any security, the date specified in such security as
the fixed date on which the payment of principal of such security is due and payable, including
pursuant to any mandatory redemption provision (but excluding any provision providing for the
repurchase of such security at the option of the holder thereof upon the happening of any
contingency beyond the control of the issuer unless such contingency has occurred).

     “Subsidiary” of any Person means any corporation, association or other business entity of
which more than 50% of the total voting power of equity interests entitled, without regard to the
occurrence of any contingency, to vote in the election of directors, managers, trustees or
equivalent Persons thereof is at the time of determination owned or controlled, directly or
indirectly, by such Person or one or more of the other Subsidiaries of such Person or combination
thereof.

     “Subsidiary Guarantors” means any Subsidiary of the Company who may execute this Indenture, or
a supplement hereto, for the purpose of providing a Guarantee of Debt Securities pursuant to this
Indenture until a successor Person shall have become such pursuant to the applicable provisions of
this Indenture, and thereafter “Subsidiary Guarantors” shall mean such successor Person.

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

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

     “Trust Officer” means any officer or assistant officer of the Trustee assigned by the Trustee
to administer its corporate trust matters.

     “United States” means the United States of America (including the States and the District of
Columbia), its territories, its possessions and other areas subject to its jurisdiction.

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

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

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     Section 1.02. Other Definitions.

	 	 	 
	Term	 	Defined in Section
	“Debt Security Register”
	 	2.07
	“Defaulted Interest”
	 	2.17
	“Event of Default”
	 	6.01
	“Funding Guarantor”
	 	14.05
	“Guarantee”
	 	14.01
	“Place of Payment”
	 	2.03
	“Registrar”
	 	2.07
	“Subordinated Debt Securities”
	 	12.01
	“Successor Company”
	 	10.01

     Section 1.03. Incorporation by Reference of Trust Indenture Act. Whenever this Indenture
refers to a provision of the TIA, the provision is incorporated by reference in and made a part of
this Indenture.

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

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

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

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

     (c) “or” is not exclusive;

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

     (e) provisions apply to successive events and transactions;

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

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

ARTICLE II

DEBT SECURITIES

     Section 2.01. Forms Generally. The Debt Securities of each series shall be in
substantially the form established without the approval of any Holder by or pursuant to a
resolution of the Board of Directors or in one or more Indentures supplemental hereto, in each case
with such appropriate insertions, omissions, substitutions and other variations as are required or
permitted by this Indenture, and may have such letters, numbers or other marks of identification
and such legends or endorsements placed thereon as the Company may deem appropriate (and, if not
contained in a supplemental Indenture entered into in accordance with

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Article IX, as are not prohibited by the provisions of this Indenture) or as may be required or
appropriate to comply with any law or with any rules made pursuant thereto or with any rules of any
securities exchange on which such series of Debt Securities may be listed, or to conform to general
usage, or as may, consistently herewith, be determined by the officers executing such Debt
Securities as evidenced by their execution of the Debt Securities.

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

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

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

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

[                                                            ],

As Trustee

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Authorized Signatory
	 	 

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

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

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

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

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

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

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

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

     (g) whether Debt Securities of the series are entitled to the benefits of any Guarantee of any
Subsidiary Guarantors pursuant to this Indenture;

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

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

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

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

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

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

9

 

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

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

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

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

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

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

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

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

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

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

     Section 2.04. Execution of Debt Securities. The Debt Securities shall be signed on behalf
of the Company by the Chairman of the Board, the President or a Vice
President of the Company and,
if the seal of the Company is reproduced thereon, it shall be attested by its Secretary, an
Assistant Secretary, a Treasurer or an Assistant Treasurer. Such signatures upon the Debt
Securities may be the manual or facsimile signatures of the present or any future such

10

 

authorized officers and may be imprinted or otherwise reproduced on the Debt Securities. The seal
of the Company, if any, may be in the form of a facsimile thereof and may be impressed, affixed,
imprinted or otherwise reproduced on the Debt Securities.

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

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

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

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

     (b) an executed supplemental Indenture, if any;

     (c) an Officers’ Certificate; and

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

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

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

11

 

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

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

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

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

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

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

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

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

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

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

12

 

Securities of any series, the Debt Securities of such series shall be issuable in denominations of
$1,000 and any integral multiple thereof.

Section 2.07. Registration of Transfer and Exchange.

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

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

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

     (b) All Debt Securities presented or surrendered for registration of transfer, exchange or
payment shall (if so required by the Company, the Trustee or the Registrar) be duly endorsed or be
accompanied by a written instrument or instruments of transfer, in form satisfactory to the
Company, the Trustee and the Registrar, duly executed by the Holder or his attorney duly authorized
in writing.

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

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

     The Company shall not be required (i) to issue, register the transfer of or exchange any Debt
Securities for a period of 15 days next preceding any mailing of notice of redemption of

13

 

Debt Securities of such series or (ii) to register the transfer of or exchange any Debt
Securities selected, called or being called for redemption.

     Prior to the due presentation for registration of transfer of any Debt Security, the Company,
the Subsidiary Guarantors, the Trustee, any paying agent or any Registrar may deem and treat the
Person in whose name a Debt Security is registered as the absolute owner of such Debt Security for
the purpose of receiving payment of or on account of the principal of, and premium, if any, and
(subject to Section 2.12) interest on, such Debt Security and for all other purposes whatsoever,
whether or not such Debt Security is overdue, and none of the Company, the Subsidiary Guarantors,
the Trustee, any paying agent or any Registrar shall be affected by notice to the contrary.

     None of the Company, the Subsidiary Guarantors, the Trustee, any agent of the Trustee, any
paying agent or any Registrar will have any responsibility or liability for any aspect of the
records relating to, or payments made on account of, beneficial ownership interests of a Global
Security or for maintaining, supervising or reviewing any records relating to such beneficial
ownership interests.

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

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

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

14

 

temporary Global Security shall be reduced for all purposes by the amount to be exchanged and
endorsed.

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

     Every substituted Debt Security of any series issued pursuant to the provisions of this
Section 2.09 by virtue of the fact that any Debt Security is destroyed, lost or stolen shall
constitute an original additional contractual obligation of the Company, whether or not the
destroyed, lost or stolen Debt Security shall be found at any time, and shall be entitled to all
the benefits of this Indenture equally and proportionately with any and all other Debt Securities
of that series duly issued hereunder. All Debt Securities shall be held and owned upon the express
condition that the foregoing provisions are exclusive with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Debt Securities, and shall preclude any and all other rights
or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with
respect to the replacement or payment of negotiable instruments or other securities without their
surrender.

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

15

 

Debt represented thereby unless and until the same are delivered or surrendered to the Trustee for
cancellation. The Company may not issue new Debt Securities to replace Debt Securities it has
redeemed, paid or delivered to the Trustee for cancellation.

     Section 2.11. Provisions of the Indenture and Debt Securities for the Sole Benefit of the
Parties and the Holders. Nothing in this Indenture or in the Debt Securities, expressed or
implied, shall give or be construed to give to any Person, other than the parties hereto, the
Holders or any Registrar or paying agent, any legal or equitable right, remedy or claim under or in
respect of this Indenture, or under any covenant, condition or provision herein contained; all its
covenants, conditions and provisions being for the sole benefit of the parties hereto, the Holders
and any Registrar and paying agents.

     Section 2.12. Payment of Interest; Interest Rights Preserved.

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

     (b) Subject to the foregoing provisions of this Section 2.12 and Section 2.17, each Debt
Security of a particular series delivered under this Indenture upon registration of transfer of or
in exchange for or in lieu of any other Debt Security of the same series shall carry the rights to
interest accrued and unpaid, and to accrue, which were carried by such other Debt Security.

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

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

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

     (a) If the Company shall establish pursuant to Sections 2.01 and 2.03 that the Debt Securities
of a particular series are to be issued in whole or in part in the form of one or more Global
Securities, then the Company shall execute and the Trustee or its agent shall, in accordance with
Section 2.05, authenticate and deliver, such Global Security or Securities, which

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shall represent, and shall be denominated in an amount equal to the aggregate principal amount
of, the Outstanding Debt Securities of such series to be represented by such Global Security or
Securities, or such portion thereof as the Company shall specify in an Officers’ Certificate,
shall be registered in the name of the Depositary for such Global Security or Securities or its
nominee, shall be delivered by the Trustee or its agent to the Depositary or pursuant to the
Depositary’s instruction and shall bear a legend substantially to the following effect:

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

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

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

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

(c) (i) If at any time the Depositary for a Global Security or Securities notifies the
Company that it is unwilling or unable to continue as Depositary for such Global Security or
Securities or if at any time the Depositary for the Debt Securities for such series shall no
longer be eligible or in good standing under the Exchange Act or other applicable statute,
rule or regulation, the Company shall appoint a successor Depositary with respect to such
Global Security or Securities. If a successor Depositary for such Global Security or
Securities is not appointed by the Company within 90 days after the Company receives such
notice or becomes aware of such ineligibility, the Company shall execute, and the

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Trustee or its agent, upon receipt of a Company Order for the authentication and delivery of
such individual Debt Securities of such series in exchange for such Global Security or
Securities, will authenticate and deliver, individual Debt Securities of such series of like
tenor and terms in definitive form in an aggregate principal amount equal to the principal
amount of the Global Security or Securities in exchange for such Global Security or
Securities.

(ii) If an Event of Default occurs and the Depositary for a Global Security or Securities
notifies the Trustee of its decision to require that the Debt Securities of any series or
portion thereof issued or issuable in the form of one or more Global Securities shall no
longer be represented by such Global Security or Securities, the Company shall appoint a
successor Depositary with respect to such Global Security or Securities. In such event the
Company will execute, and the Trustee, upon receipt of a Company Order for the
authentication and delivery of individual Debt Securities of such series in exchange in
whole or in part for such Global Security or Securities, will authenticate and deliver
individual Debt Securities of such series of like tenor and terms in definitive form in an
aggregate principal amount equal to the principal amount of such series or portion thereof
in exchange for such Global Security or Securities.

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

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

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

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

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

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conditions of such Debt Securities as are specified in such Officers’ Certificate,
supplemental Indenture or such resolution.

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

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

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

     Section 2.18. CUSIP Numbers. The Company in issuing the Debt Securities may use “CUSIP”
numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of
redemption as a convenience to Holders; provided that any such notice may state that no
representation is made as to the accuracy of such numbers either as printed on the Debt Securities
or as contained in any notice of a redemption and that reliance may be placed only on the other
identification numbers printed on the Debt Securities, and any such redemption

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shall not be affected by any defect in or omission of such numbers. The Company will promptly
notify the Trustee in writing of any change in the “CUSIP” numbers.

ARTICLE III

REDEMPTION OF DEBT SECURITIES

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

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

     Each such notice of redemption shall specify (i) the date fixed for redemption, (ii) the
redemption price at which Debt Securities of such series are to be redeemed (or the method of
calculating such redemption price), (iii) the Place or Places of Payment that payment will be made
upon presentation and surrender of such Debt Securities, (iv) that any interest accrued to the date
fixed for redemption will be paid as specified in said notice, (v) that the redemption is for a
sinking fund payment (if applicable), (vi) that, unless otherwise specified in such notice, if the
Company defaults in making such redemption payment or if the Debt Securities of that series are
subordinated pursuant to the terms of Article XII, the paying agent is prohibited from making such
payment pursuant to the terms of this Indenture, (vii) that on and after said date any interest
thereon or on the portions thereof to be redeemed will cease to accrue, (viii) that in the case of
Original Issue Discount Securities original issue discount accrued after the date fixed for
redemption will cease to accrue, (ix) the terms of the Debt Securities of that series pursuant to
which the Debt Securities of that series are being redeemed and (x) 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 Debt Securities of that series. If less than all the Debt Securities of a series are to be
redeemed the notice of redemption shall specify the certificate numbers of any Debt Securities of
that series to be redeemed that are not in global form. In case any Debt Security of a series is
to be redeemed in part only, the notice of redemption shall state the portion of the principal
amount thereof to be redeemed and shall state that on and after the date fixed for redemption, upon
surrender of such Debt Security, a new Debt Security or Debt Securities of that series in principal
amount equal to the unredeemed portion thereof, will be issued.

     At least five days before the giving of any notice of redemption, unless the Trustee consents
to a shorter period, the Company shall give written notice to the Trustee of the Redemption Date,
the principal amount of Debt Securities to be redeemed and the series and

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

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

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

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

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

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

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

     Section 3.05. Redemption of Debt Securities for Sinking Fund. Not less than 60 days prior
to each sinking fund payment date for any series of Debt Securities, the Company will deliver to
the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment
for that series pursuant to the terms of that series, any resolution or supplemental Indenture, the
portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if
any, which is to be satisfied by delivering and crediting Debt Securities of that series pursuant
to this Section 3.05 (which Debt Securities, if not previously redeemed, will accompany such
certificate) and whether the Company intends to exercise its right to make any permitted optional
sinking fund payment with respect to such series. Such certificate shall also state that no Event
of Default has occurred and is continuing with respect to such series. Such certificate shall be
irrevocable and upon its delivery the Company shall be obligated to make the cash

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payment or payments therein referred to, if any, by 11 a.m., New York City time, on the next
succeeding sinking fund payment date. Failure of the Company to deliver such certificate (or to
deliver the Debt Securities specified in this paragraph) shall not constitute a Default, but such
failure shall require that the sinking fund payment due on the next succeeding sinking fund payment
date for that series shall be paid entirely in cash and shall be sufficient to redeem the principal
amount of such Debt Securities subject to a mandatory sinking fund payment without the option to
deliver or credit Debt Securities as provided in this Section 3.05 and without the right to make
any optional sinking fund payment, if any, with respect to such series.

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

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

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

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applied on the next sinking fund payment date for such Debt Securities on which such moneys
may be applied pursuant to the provisions of this Section 3.05.

ARTICLE IV

PARTICULAR COVENANTS OF THE COMPANY

     Section 4.01. Payment of Principal of, and Premium, If Any, and Interest on, Debt
Securities. The Company, for the benefit of each series of Debt Securities, will duly and
punctually pay or cause to be paid the principal of, and premium, if any, and interest on, each of
the Debt Securities at the place, at the respective times and in the manner provided herein or in
the Debt Securities. Each installment of interest on any Debt Securities not in global form may at
the Company’s option be paid by mailing checks for such interest payable to the Person entitled
thereto pursuant to Section 2.07(a) to the address of such Person as it appears on the Debt
Security Register.

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

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

     Section 4.02. Maintenance of Offices or Agencies for Registration of Transfer, Exchange and
Payment of Debt Securities. The Company will maintain in each Place of Payment for any series
of Debt Securities an office or agency where Debt Securities of such series may be presented or
surrendered for payment, and it shall also maintain (in or outside such Place of Payment) an office
or agency where Debt Securities of such series may be surrendered for transfer or exchange and
where notices and demands to or upon the Company in respect of the Debt Securities of such series
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
shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with
the address thereof, such presentations, surrenders, notices and demands may be made or served at
the office of the Trustee where its corporate trust business is principally administered in the
United States, and the Company hereby appoints the Trustee as its agent to receive all
presentations, surrenders, notices and demands.

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

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

     Section 4.04. Duties of Paying Agents, etc.

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

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

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

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

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

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

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

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

     Section 4.05. SEC Reports; Financial Statements.

     (a) The Company shall, so long as any of the Debt Securities are Outstanding, file with the
Trustee, within 30 days after it files the same with the SEC, copies of the annual reports and the
information, documents and other reports (or copies of such portions of any of the foregoing as the
SEC may by rules and regulations prescribe) that the Company is required to file with the SEC
pursuant to Section 13 or 15(d) of the Exchange Act. If the Company is not subject to the
requirements of such Section 13 or 15(d), the Company shall file with the Trustee, within 30 days
after it would have been required to file the same with the SEC, financial statements, including
any notes thereto (and with respect to annual reports, an auditors’ report by a firm of established
national reputation), and a “Management’s Discussion and Analysis of Financial Condition and
Results of Operations,” both comparable to that which the Company would have been required to
include in such annual reports, information, documents or other reports if the Company had been
subject to the requirements of such Section 13 or 15 (d). The Company shall also comply with the
provisions of TIA Section 314 (a).

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

     (c) The Company shall, so long as any of the Notes are Outstanding, deliver to the Trustee,
within 30 days of any Officer of the Company becoming aware of the occurrence of any Event of
Default, an Officers’ Certificate specifying such Event of Default and what action the Company is
taking or proposes to take with respect thereto.

     Section 4.06. Compliance Certificate.

     (a) The Company and any Subsidiary Guarantor shall, so long as any of the Debt Securities are
Outstanding, deliver to the Trustee, within 120 days after the end of each fiscal year of the
Company, 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 of the Company with a view to determining whether each of the Company and any Subsidiary
Guarantor 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
knowledge each of the Company and any Subsidiary Guarantor has kept, observed, performed and
fulfilled each and every covenant contained in this Indenture and is not in default in the
performance or observance of any of the terms, provisions and conditions hereof, without regard to
any grace period or requirement of notice required by this Indenture (or, if a Default or Event of
Default shall have occurred, describing all such Defaults or Events of Default of which such
Officer may have knowledge and what action the Company or any Subsidiary Guarantor is taking or
proposes to take with respect thereto) and that to the best of his knowledge no event has occurred
and remains in existence by reason of which payments on account of the principal of, or premium, if
any, or interest, if any, on the Debt

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Securities are prohibited or, if such event has occurred, a description of the event and what
action the Company or any Subsidiary Guarantor is taking or proposes to take with respect thereto.

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

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

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

     Section 4.09. Maintenance of Properties. The Company shall cause all properties owned by
the Company or any of its Subsidiaries or used or held for use in the conduct of its business or
the business of any such Subsidiary to be maintained and kept in good condition, repair and working
order (reasonable wear and tear excepted) and supplied with all necessary equipment and will cause
to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all
as in the judgment of the Company may be necessary so that the business carried on in connection
therewith may be properly and advantageously conducted at all times; provided that nothing in this
Section shall prevent the Company from discontinuing the operation or maintenance of any of such
properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of
its business or the business of any such Subsidiary and not disadvantageous in any material
respect to the Holders.

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

     Section 4.11. Waiver of Certain Covenants. The Company and the Subsidiary Guarantors may,
with respect to the Debt Securities of any series, omit in any particular instance to comply with
any covenant set forth in this Article IV (except Sections 4.01 through 4.08) or made applicable to
such Debt Securities pursuant to Section 2.03, if, before or after the time for such compliance,
the Holders of at least a majority in principal amount of the Outstanding Debt Securities of each
series affected, waive such compliance in such instance with such covenant,

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but no such waiver shall extend to or affect such covenant except to the extent so expressly
waived, and, until such waiver shall become effective, the obligations of the Company and the
Subsidiary Guarantors and the duties of the Trustee in respect of any such covenant shall remain in
full force and effect.

ARTICLE V

HOLDERS’ LISTS AND REPORTS BY THE TRUSTEE

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

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

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

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

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

     The Trustee may destroy any list furnished to it as provided in this Section 5.01 upon receipt
of a new list so furnished.

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

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

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

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

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

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

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

ARTICLE VI

REMEDIES OF THE TRUSTEE AND HOLDERS IN EVENT OF DEFAULT

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

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

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

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

     (d) failure on the part of the Company, or if any series of Debt Securities Outstanding under
this Indenture is entitled to the benefits of the Guarantee, any of the Subsidiary Guarantors, duly
to observe or perform any other of the covenants or agreements on the part of the Company, or if
applicable, any of the Subsidiary Guarantors, in the Debt Securities of that series, in any
resolution of the Board of Directors authorizing the issuance of that series of Debt

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Securities, in this Indenture with respect to such series or in any supplemental Indenture
with respect to such series (other than a covenant a default in the performance of which is
elsewhere in this Section specifically dealt with), continuing for a period of 60 days after the
date on which written notice specifying such failure and requiring the Company, or if applicable,
the Subsidiary Guarantors, to remedy the same shall have been given to the Company, or if
applicable, the Subsidiary Guarantors, by the Trustee or to the Company, or if applicable, the
Subsidiary Guarantors, and the Trustee by the Holders of at least 25% in aggregate principal amount
of the Debt Securities of that series at the time Outstanding; or

     (e) the Company, or if any series of Debt Securities Outstanding under this Indenture is
entitled to the benefits of the Guarantee, any of the Subsidiary Guarantors, pursuant to or within
the meaning of any Bankruptcy Law,

     (i) commences a voluntary case,

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

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

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

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

     (i) is for relief against the Company, or if any series of Debt Securities Outstanding
under this Indenture is entitled to the benefits of the Guarantee, any of the Subsidiary
Guarantors, as debtor in an involuntary case,

     (ii) appoints a Custodian of the Company, or if any series of Debt Securities
Outstanding under this Indenture is entitled to the benefits of the Guarantee, any of the
Subsidiary Guarantors, or a Custodian for all or substantially all of the property of the
Company, or if applicable, any of the Subsidiary Guarantors, or

     (iii) orders the liquidation of the Company, or if any series of Debt Securities
Outstanding under this Indenture is entitled to the benefits of the Guarantee, any of the
Subsidiary Guarantors,

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

     (g) if any series of Debt Securities Outstanding under this Indenture is entitled to the
benefits of the Guarantee, the Guarantee of any of the Subsidiary Guarantors ceases to be in full
force and effect with respect to Debt Securities of that series (except as otherwise provided in
this Indenture) or is declared null and void in a judicial proceeding or any of the Subsidiary
Guarantors denies or disaffirms its obligations under this Indenture or such Guarantee; or

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

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

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

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

     In case there shall be pending proceedings for the bankruptcy or for the reorganization of any
of the Subsidiary Guarantors or the Company or any other obligor upon the Debt Securities of any
series under any Bankruptcy Law, or in case a Custodian shall have been appointed for its property,
or in case of any other similar judicial proceedings relative to any of the Subsidiary Guarantors
or the Company or any other obligor upon the Debt Securities of any series, its

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

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

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

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

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

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

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

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

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

     Section 6.04. Limitation on Suits by Holders. No Holder of any Debt Security of any series
shall have any right by virtue or by availing of any provision of this Indenture to institute any
action or proceeding at law or in equity or in bankruptcy or otherwise, upon or under or with
respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy
hereunder, unless such Holder previously shall have given to the Trustee written notice of an Event
of Default with respect to Debt Securities of that same series and of the continuance thereof and
unless the Holders of not less than 25% in aggregate principal amount of the Outstanding Debt
Securities of that series shall have made written request upon the Trustee to institute such action
or proceedings in respect of such Event of Default in its own name as Trustee hereunder and shall
have offered to the Trustee such reasonable indemnity or security as it may require against the
costs, expenses and liabilities to be incurred therein or thereby, and the Trustee, for 60 days
after its receipt of such notice, request and offer of indemnity or security shall have failed to
institute any such action or proceedings and no direction inconsistent with such written request
shall have been given to the Trustee pursuant to Section 6.06; it being

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understood and intended, and being expressly covenanted by the Holder of every Debt Security with
every other Holder and the Trustee, that no one or more Holders shall have any right in any manner
whatever by virtue or by availing of any provision of this Indenture to affect, disturb or
prejudice the rights of any Holders, or to obtain or seek to obtain priority over or preference to
any other such Holder, or to enforce any right under this Indenture, except in the manner herein
provided and for the equal, ratable and common benefit of all such Holders. For the protection and
enforcement of the provisions of this Section 6.04, each and every Holder and the Trustee shall be
entitled to such relief as can be given either at law or in equity.

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

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

     Section 6.06. Rights of Holders of Majority in Principal Amount of Debt Securities to Direct
Trustee and to Waive Default. The Holders of not less than a majority in aggregate principal
amount of the Debt Securities of any series at the time Outstanding shall have the right to direct
the time, method and place of conducting any proceeding for any remedy available to the Trustee, or
of exercising any right, trust or power conferred on the Trustee, with respect to the Debt
Securities of such series; provided, however, that such direction shall not be otherwise than in
accordance with law and the provisions of this Indenture, and that subject to the provisions of
Section 7.01, the Trustee shall have the right to decline to follow any such direction if the
Trustee being advised by counsel shall determine that the action so directed may not lawfully be
taken or is inconsistent with any provision of this Indenture, or if the Trustee shall by a
responsible officer or officers determine that the action so directed would involve it in personal
liability or would be unduly prejudicial to Holders of Debt Securities of such series not taking
part in such direction; and provided, further, however, that nothing in this Indenture contained
shall impair the right of the Trustee to take any action deemed proper by the Trustee and which is
not inconsistent with such direction by such Holders. The Holders of not less than a majority in
aggregate principal amount of the Debt Securities of any series at the time Outstanding may on
behalf of the Holders of all the Debt Securities of that series waive any past Default or Event of
Default and its consequences for that series, except a Default or Event of Default in the payment
of the principal of, and premium, if any, or interest on, any of the Debt Securities and a Default
or Event of Default in respect of a provision that under Section 9.02 cannot be amended without

35

 

the consent of each Holder affected thereby. In case of any such waiver, such Default shall cease
to exist, any Event of Default arising therefrom shall be deemed to have been cured for every
purpose of this Indenture, and the Subsidiary Guarantors, the Company, the Trustee and the Holders
of the Debt Securities of that series shall be restored to their former positions and rights
hereunder, respectively; but no such waiver shall extend to any subsequent or other Default or
Event of Default or impair any right consequent thereon.

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

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

ARTICLE VII

CONCERNING THE TRUSTEE

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

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

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

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

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

     (ii) in the absence of bad faith on the part of the Trustee, the Trustee may
conclusively rely, as to the truth of the statements and the correctness of the opinions
expressed therein, upon any certificates or opinions furnished to the Trustee and conforming
to the requirements of this Indenture; but in the case of any such certificates or opinions
which by any provision hereof are specifically required to be furnished to the Trustee, the
Trustee shall be under a duty to examine the same to determine whether or not they conform
to the requirements of this Indenture; but the Trustee shall examine the evidence furnished
to it pursuant to Sections 4.05 and 4.06 to determine whether or not such evidence conforms
to the requirement of this Indenture;

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

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

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

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

     Section 7.02. Certain Rights of Trustee. Except as otherwise provided in Section 7.01:

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

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

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

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

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

     (f) prior to the occurrence of an Event of Default and after the curing of all Events of
Default which may have occurred, the Trustee shall not be bound to make any investigation into the
facts or matters stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, direction, consent, order, approval or other paper or document, unless requested
in writing to do so by the Holders of a majority in aggregate principal amount of the then
Outstanding Debt Securities of a series affected by such matter; provided, however, that if the
payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be
incurred by it in the making of such investigation is not, in the opinion of the Trustee,
reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture,
the Trustee may require reasonable indemnity against such costs, expenses or liabilities as a
condition to so proceeding, and the reasonable expense of every such investigation shall be paid by
the Company or, if paid by the Trustee, shall be repaid by the Company upon demand;

     (g) the Trustee may execute any of the trusts or powers hereunder or perform any duties
hereunder either directly or by or through agents or attorneys and the Trustee shall not be

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responsible for any misconduct or negligence on the part of any agent or attorney appointed by
it with due care hereunder; and

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

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

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

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

     Section 7.06. Compensation and Reimbursement. The Company covenants and agrees to pay in
Dollars to the Trustee from time to time, and the Trustee shall be entitled to, reasonable
compensation for all services rendered by it hereunder (which shall not be limited by any provision
of law in regard to the compensation of a trustee of an express trust), and, except as otherwise
expressly provided herein, the Company will pay or reimburse in Dollars the Trustee upon its
request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in
accordance with any of the provisions of this Indenture (including the reasonable compensation and
the expenses and disbursements of its agents, attorneys and counsel and of all Persons not
regularly in its employ), including without limitation, Section 6.02, except any such expense,
disbursement or advances as may arise from its negligence, willful misconduct or bad faith. The
Company also covenants to indemnify in Dollars the Trustee for, and to hold it harmless against,
any loss, liability or expense incurred without negligence, willful misconduct or bad faith on the
part of the Trustee, arising out of or in

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connection with the acceptance or administration of this trust or trusts hereunder, including the
reasonable costs and expenses of defending itself against any claim of liability in connection with
the exercise or performance of any of its powers or duties hereunder. The obligations of the
Company under this Section 7.06 to compensate and indemnify the Trustee and to pay or reimburse the
Trustee for expenses, disbursements and advances shall constitute additional Debt hereunder and
shall survive the satisfaction and discharge of this Indenture. The Company and the Holders agree
that such additional Debt shall be secured by a Lien prior to that of the Debt Securities upon all
property and funds held or collected by the Trustee, as such, except funds held in trust for the
payment of principal of, and premium, if any, or interest on, particular Debt Securities.

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

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

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

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

     (b) the Trustee is adjudged bankrupt or insolvent;

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

     (d) the Trustee otherwise becomes incapable of acting.

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

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     A successor Trustee shall deliver a written acceptance of its appointment to the retiring
Trustee and to the Company. Thereupon the resignation or removal of the retiring Trustee shall
become effective, and the successor Trustee shall have all the rights, powers and duties of the
Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders of Debt Securities of each applicable series. The retiring Trustee shall promptly transfer
all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in
Section 7.06.

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

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

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

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

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

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

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cases such certificates shall have the full force which it is anywhere in the Debt Securities
or in this Indenture provided that the certificate of the Trustee shall have.

     Section 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy the
requirements of Section 310(a) of the TIA. The Trustee shall have a combined capital and surplus
of at least $50,000,000 as set forth in its most recent published annual report of condition. No
obligor upon the Debt Securities of a particular series or Person directly or indirectly
controlling, controlled by or under common control with such obligor shall serve as Trustee for the
Debt Securities of such series. The Trustee shall comply with Section 310(b) of the TIA; provided,
however, that there shall be excluded from the operation of Section 310(b)(1) of the TIA this
Indenture or any indenture or indentures under which other securities or certificates of interest
or participation in other securities of the Company are outstanding if the requirements for such
exclusion set forth in Section 310(b)(1) of the TIA are met.

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

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

ARTICLE VIII

CONCERNING THE HOLDERS

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

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

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require such additional proof of any matter referred to in this Section 8.02 as it shall deem
necessary.

     Section 8.03. Who May Be Deemed Owner of Debt Securities. Prior to due presentment for
registration of transfer of any Debt Security, the Company, the Subsidiary Guarantors, the Trustee,
any paying agent and any Registrar may deem and treat the Person in whose name any Debt Security
shall be registered upon the books of the Company as the absolute owner of such Debt Security
(whether or not such Debt Security shall be overdue and notwithstanding any notation of ownership
or other writing thereon) for the purpose of receiving payment of or on account of the principal of
and premium, if any, and (subject to Section 2.12) interest on such Debt Security and for all other
purposes, and none of the Company, the Subsidiary Guarantors or the Trustee nor any paying agent
nor any Registrar shall be affected by any notice to the contrary; and all such payments so made to
any such Holder for the time being, or upon his order, shall be valid and, to the extent of the sum
or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such
Debt Security.

     None of the Company, the Subsidiary Guarantors, the Trustee, any paying agent or any Registrar
will have any responsibility or liability for any aspect of the records relating to or payments
made on account of beneficial ownership interests in a Global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests.

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

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

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Securities of such series specified in this Indenture shall have been received within such
120-day period.

ARTICLE IX

SUPPLEMENTAL INDENTURES

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

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

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

     (c) to cure any ambiguity or omission or to correct or supplement any provision contained
herein, in any supplemental Indenture or in any Debt Securities of any series that may be defective
or inconsistent with any other provision contained herein, in any supplemental Indenture or in the
Debt Securities of such series; to convey, transfer, assign, mortgage or pledge any property to or
with the Trustee, or to make such other provisions in regard to matters or questions arising under
this Indenture as shall not adversely affect the interests of any Holders of Debt Securities of any
series;

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

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     (e) to change or eliminate any restrictions on the payment of principal of, or premium, if
any, on, Debt Securities; provided, that any such action shall not adversely affect the interests
of the Holders of Debt Securities of any series in any material respect or permit or facilitate the
issuance of Debt Securities of any series in uncertificated form;

     (f) to reflect the release of any Subsidiary Guarantor in accordance with Article XIV

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

     (h) to add Subsidiary Guarantors with respect to any or all of the Debt Securities or to
secure any or all of the Debt Securities or the Guarantee;

     (i) to make any change that does not adversely affect the rights hereunder of any Holder;

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

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

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

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

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

     In the case of Debt Securities subordinated pursuant to Article XII, an amendment under this
Section 9.01 may not make any change that adversely affects the rights under Article XII of any
holder of Senior Indebtedness then outstanding unless the holders of such Senior

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Indebtedness (or any group or Representative thereof authorized to give a consent) consent to
such change.

     Section 9.02. Modification of Indenture with Consent of Holders of Debt Securities.
Without notice to any Holder but with the consent (evidenced as provided in Section 8.01) of the
Holders of not less than a majority in aggregate principal amount of the Outstanding Debt
Securities of each series affected by such supplemental Indenture (including consents obtained in
connection with a tender offer or exchange offer for any such series of Debt Securities), the
Company and the Subsidiary Guarantors, when authorized by resolutions of the Board of Directors,
and the Trustee may from time to time and at any time enter into an Indenture or Indentures
supplemental hereto (which shall conform to the provisions of the TIA as in force at the date of
execution thereof) for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Indenture or of any supplemental Indenture or of
modifying in any manner the rights of the Holders of the Debt Securities of such series; provided,
that no such supplemental Indenture, without the consent of the Holders of each Debt Security so
affected, shall: reduce the percentage in principal amount of Debt Securities of any series whose
Holders must consent to an amendment; reduce the rate of or extend the time for payment of
interest on any Debt Security; reduce the principal of or extend the Stated Maturity of any Debt
Security; reduce any premium payable upon the redemption of any Debt Security or change the time
at which any Debt Security may or shall be redeemed in accordance with Article III; make any Debt
Security payable in currency other than the Dollar; impair the right of any Holder to receive
payment of premium, if any, principal of and interest on such Holder’s Debt Securities on or after
the due dates therefor or to institute suit for the enforcement of any payment on or with respect
to such Holder’s Debt Securities; in the case of any Debt Security subordinated pursuant to Article
XII, make any change in Article XII that adversely affects the rights of any Holder under Article
XII; release any security that may have been granted in respect of the Debt Securities, other than
in accordance with this Indenture; make any change in Section 6.06 or this Section 9.02; or, except
as provided in Section 11.02(b) or Section 14.04, release the Subsidiary Guarantors other than as
provided in this Indenture or modify the Guarantee in any manner adverse to the Holders.

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

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

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

     In the case of any Debt Securities subordinated pursuant to Article XII, an amendment under
this Section 9.02 may not make any change that adversely affects the rights under Article XII of
any holder of Senior Indebtedness then outstanding unless the holders of such Senior Indebtedness
(or any group or Representative thereof authorized to give a consent) consent to such change.

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

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

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

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

ARTICLE X

CONSOLIDATION, MERGER, SALE OR CONVEYANCE

     Section 10.01. Consolidations and Mergers of the Company. The Company shall not
consolidate or amalgamate with or merge with or into any Person, or sell, convey, transfer, lease
or otherwise dispose of all or substantially all its assets to any Person, whether in a single
transaction or a series of related transactions, except (1) in accordance with the provisions of
its

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Company agreement, and (2) unless: (a) either (i) the Company shall be the surviving Person in the
case of a merger or (ii) the resulting, surviving or transferee Person if other than the Company
(the “Successor Company”), shall be a Company, limited liability company or corporation organized
and existing under the laws of the United States, any State thereof or the District of Columbia and
the Successor Company shall expressly assume, by an Indenture supplemental hereto, executed and
delivered to the Trustee, in form satisfactory to the Trustee, all the obligations of the Company
under this Indenture and the Debt Securities according to their tenor; (b) immediately after giving
effect to such transaction or series of transactions (and treating any Debt which becomes an
obligation of the Successor Company or any Subsidiary of the Company as a result of such
transaction as having been incurred by the Successor Company or such Subsidiary at the time of such
transaction or series of transactions), no Default or Event of Default would occur or be
continuing; (c) if the Company is not the continuing Person, then each Subsidiary Guarantor, unless
it has become the Successor Company, shall confirm that its Guarantee shall continue to apply to
the obligations under the Debt Securities and this Indenture; and (d) the Company shall have
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such
consolidation, amalgamation, merger or disposition and such supplemental Indenture (if any) comply
with this Indenture.

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

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

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ARTICLE XI

SATISFACTION AND DISCHARGE OF

INDENTURE; DEFEASANCE; UNCLAIMED MONEYS

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

     Section 11.02. Satisfaction and Discharge of Indenture; Defeasance.

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

     (b) Subject to Sections 11.02(c), 11.03 and 11.07, the Company at any time may terminate, with
respect to Debt Securities of a particular series, all its obligations under the Debt Securities
of such series and this Indenture with respect to the Debt Securities of such series (“legal
defeasance option”) or the operation of (w) Sections 4.09 and 4.10, (x) any covenant made
applicable to such Debt Securities pursuant to Section 2.03, (y) Sections 6.01(d), (g) and (h) and
(z) as they relate to the Subsidiary Guarantors only, Sections 6.01(e) and (f) (“covenant
defeasance option”). If the Company exercises either its legal defeasance option or its covenant
defeasance option with respect to Debt Securities of a particular series that are entitled to the
benefit of the Guarantee, the Guarantee will terminate with respect to that series of Debt
Securities. The Company may exercise its legal defeasance option notwithstanding its prior
exercise of its covenant defeasance option.

     If the Company exercises its legal defeasance option, payment of the Debt Securities of the
defeased series may not be accelerated because of an Event of Default. If the Company exercises
its covenant defeasance option, payment of the Debt Securities of the defeased series

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may not be accelerated because of an Event of Default specified in Sections 6.01(d), (g) and
(h) and, with respect to the Subsidiary Guarantors only, Sections 6.01(e) and (f).

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

     (c) Notwithstanding clauses (a) and (b) above, the Company’s obligations in Sections 2.07,
2.09, 4.02, 4.03, 4.04, the last sentence of 4.05(a), 4.06(a), 5.01, 7.06, 11.05, 11.06 and 11.07
shall survive until the Debt Securities of the defeased series have been paid in full. Thereafter,
the Company’s obligations in Sections 7.06, 11.05 and 11.06 shall survive.

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

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

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

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

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

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

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

     (g) in the event of the legal defeasance option, the Company shall have delivered to the
Trustee an Opinion of Counsel stating that the Company has received from the Internal Revenue
Service a ruling, or since the date of this Indenture there has been a change in the applicable
Federal income tax law, in either case to the effect that, and based thereon such Opinion of
Counsel shall confirm that, the Holders of Debt Securities of such series will not recognize
income, gain or loss for Federal income tax purposes as a result of such defeasance

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and will be subject to Federal income tax on the same amounts, in the same manner and at the
same times as would have been the case if such defeasance had not occurred;

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

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

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

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

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

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

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

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

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ARTICLE XII

SUBORDINATION OF DEBT SECURITIES AND GUARANTEE

     Section 12.01. Applicability of Article; Agreement to Subordinate. The provisions of this
Article XII shall only be applicable to the Debt Securities of any series (Debt Securities of such
series referred to in this Article XII as “Subordinated Debt Securities”) designated, pursuant to
Section 2.03, as subordinated to Senior Indebtedness and any related Guarantee of such Subordinated
Debt Securities. Each Holder by accepting a Subordinated Debt Security agrees that the Debt
evidenced by such Subordinated Debt Security and any related Guarantee of such Subordinated Debt
Security is subordinated in right of payment, to the extent and in the manner provided in this
Article XII, to the prior payment of all Senior Indebtedness and that the subordination is for the
benefit of and enforceable by the holders of Senior Indebtedness. All provisions of this Article
XII shall be subject to Section 12.12.

     Section 12.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or distribution of
the assets of the Company or the Subsidiary Guarantors, as the case may be, to creditors, upon a
liquidation or a dissolution of the Company or the Subsidiary Guarantors, as the case may be, or in
a bankruptcy, reorganization, insolvency, receivership or similar proceeding relating to the
Company or the Subsidiary Guarantors, as the case may be, or their respective property:

     (a) holders of Senior Indebtedness of the Company or any Subsidiary Guarantor, as the case may
be, shall be entitled to receive payment in full in cash of such Senior Indebtedness of such Person
(including interest (if any), accruing on or after the commencement of a proceeding in bankruptcy,
whether or not allowed as a claim against the Company or the Subsidiary Guarantors, as the case may
be, in such bankruptcy proceeding) before Holders of Subordinated Debt Securities and any related
Guarantee shall be entitled to receive any payment of principal of, or premium, if any, or interest
on, the Subordinated Debt Securities from the Company, or any payment in respect of the Guarantee
from the Subsidiary Guarantors; and

     (b) until the Senior Indebtedness of the Company or any Subsidiary Guarantor, as the case may
be, is paid in full, any distribution to which Holders of Subordinated Debt Securities and any
related Guarantee would be entitled but for this Article XII shall be made to holders of Senior
Indebtedness of the Company or the Subsidiary Guarantors, as the case may be, as their interests
may appear, except that such Holders may receive capital stock and any debt securities that are
subordinated to Senior Indebtedness of the Company or the Subsidiary Guarantors, as the case may
be, to at least the same extent as the Subordinated Debt Securities of the Company or the related
Guarantee of any Subsidiary Guarantor, respectively.

     Section 12.03. Default on Senior Indebtedness. The Company and the Subsidiary Guarantors
may not pay the principal of, or premium, if any, or interest on, the Subordinated Debt Securities
or any related Guarantee or make any deposit pursuant to Article XI and may not repurchase, redeem
or otherwise retire (except, in the case of Subordinated Debt Securities that provide for a
mandatory sinking fund pursuant to Section 3.05, by the delivery of Subordinated Debt Securities by
the Company to the Trustee pursuant to the first paragraph of Section 3.05) any Subordinated Debt
Securities (collectively, “pay the Subordinated Debt Securities”) if any principal, premium or
interest in respect of Senior Indebtedness of such Person is not paid within

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any applicable grace period (including at maturity) or any other default on Senior Indebtedness of
such Person occurs and the maturity of such Senior Indebtedness is accelerated in accordance with
its terms unless, in either case, the default has been cured or waived and any such acceleration
has been rescinded or such Senior Indebtedness has been paid in full in cash; provided, however,
that the Company and the Subsidiary Guarantors may make payments on the Subordinated Debt
Securities or any related Guarantee without regard to the foregoing if the Company and the Trustee
receive written notice approving such payment from the Representative of each issue of Designated
Senior Indebtedness. During the continuance of any other default with respect to any Designated
Senior Indebtedness pursuant to which the maturity thereof may be accelerated immediately without
further notice (except such notice as may be required to effect such acceleration) or the
expiration of any applicable grace periods, the Company and the Subsidiary Guarantors may not make
payments on the Subordinated Debt Securities or any related Guarantee for a period (a “Payment
Blockage Period”) commencing upon the receipt by the Company and the Trustee (and if such
Designated Senior Indebtedness is Debt of a Subsidiary Guarantor, the Subsidiary Guarantor) of
written notice of such default from the Representative of any Designated Senior Indebtedness
specifying an election to effect a Payment Blockage Period (a “Blockage Notice”) and ending 179
days thereafter (or earlier if such Payment Blockage Period is terminated by written notice to the
Trustee and the Company (and if such Designated Senior Indebtedness is Debt of a Subsidiary
Guarantor, the Subsidiary Guarantor) from the Person or Persons who gave such Blockage Notice, by
repayment in full in cash of such Designated Senior Indebtedness or because the default giving
rise to such Blockage Notice is no longer continuing). Notwithstanding the provisions described in
the immediately preceding sentence (but subject to the provisions contained in Section 12.02 and
the first sentence of this Section 12.03), unless the holders of such Designated Senior
Indebtedness or the Representative of such holders shall have accelerated the maturity of such
Designated Senior Indebtedness, the Company and the Subsidiary Guarantors may resume payments on
the Subordinated Debt Securities and related Guarantees after such Payment Blockage Period. Not
more than one Blockage Notice may be given in any consecutive 360-day period, irrespective of the
number of defaults with respect to any number of issues of Designated Senior Indebtedness during
such period, unless otherwise specified pursuant to Section 2.03 for the Subordinated Debt
Securities of a series; provided, however, that in no event may the total number of days during
which any Payment Blockage Period or Periods is in effect exceed 179 days in the aggregate during
any 360 consecutive day period. For purposes of this Section 12.03, no default or event of default
which existed or was continuing on the date of the commencement of any Payment Blockage Period with
respect to the Designated Senior Indebtedness initiating such Payment Blockage Period shall be, or
be made, the basis of the commencement of a subsequent Payment Blockage Period by the
Representative of such Designated Senior Indebtedness, whether or not within a period of 360
consecutive days, unless such default or event of default shall have been cured or waived for a
period of not less than 90 consecutive days.

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

     Section 12.05. When Distribution Must Be Paid Over. If a distribution is made to Holders
of Subordinated Debt Securities or a related Guarantee that because of this Article XII

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should not have been made to them, the Holders who receive such distribution shall hold it in trust
for holders of Senior Indebtedness and pay it over to them as their interests may appear.

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

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

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

     (b) prevent the Trustee or any Holder of Subordinated Debt Securities from exercising its
available remedies upon an Event of Default, subject to the rights of holders of Senior
Indebtedness to receive distributions otherwise payable to Holders of Subordinated Debt Securities.

     Section 12.08. Subordination May Not Be Impaired by Company. No right of any holder of
Senior Indebtedness to enforce the subordination of the Debt evidenced by the Subordinated Debt
Securities and the Guarantee in respect thereof shall be impaired by any act or failure to act by
the Company or the Subsidiary Guarantors or by its failure to comply with this Indenture.

     Section 12.09. Rights of Trustee and Paying Agent. Notwithstanding Sections 12.02 and
12.03, the Trustee or any paying agent may continue to make payments on Subordinated Debt
Securities and shall not be charged with knowledge of the existence of facts that would prohibit
the making of any such payments unless, not less than two Business Days prior to the date of such
payment, a responsible officer of the Trustee receives notice satisfactory to it that payments may
not be made under this Article XII. The Company, the Registrar, any paying agent, a Representative
or a holder of Senior Indebtedness may give the notice; provided, however, that, if an issue of
Senior Indebtedness has a Representative, only the Representative may give the notice on behalf of
the Holders of the Senior Indebtedness of that issue.

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

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of any of its rights as such holder. Nothing in this Article XII shall apply to claims of, or
payments to, the Trustee under or pursuant to Section 7.06.

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

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

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

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

     Section 12.14. Trustee to Effectuate Subordination. Each Holder by accepting a
Subordinated Debt Security authorizes and directs the Trustee on his behalf to take such action as
may be necessary or appropriate to acknowledge or effectuate the subordination between the

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Holders of Subordinated Debt Securities and the holders of Senior Indebtedness as provided in this
Article XII and appoints the Trustee as attorney-in-fact for any and all such purposes.

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

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

ARTICLE XIII

MISCELLANEOUS PROVISIONS

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

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

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

If to the Company or any Subsidiary Guarantor:

Copano Energy, L.L.C.

2727 Allen Parkway, Suite1200

Houston, Texas 77019

Attention: Chief Financial Officer

If to the Trustee:

56

 

     [                                        ]

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

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

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

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

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

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

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

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

     Section 13.05. Officers’ Certificate and Opinion of Counsel to Be Furnished upon Application or
Demand by the Company. Upon any application or demand by the Company to the Trustee to take
any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee
an Officers’ Certificate stating that all conditions precedent provided for in this Indenture
relating to the proposed action have been complied with and an Opinion of Counsel stating that, in
the opinion of such counsel, all such conditions precedent have been

57

 

complied with, except that in the case of any such application or demand as to which the furnishing
of such document is specifically required by any provision of this Indenture relating to such
particular application or demand, no additional certificate or opinion need be furnished.

     Each certificate or opinion provided for in this Indenture and delivered to the Trustee with
respect to compliance with a condition or covenant provided for in this Indenture shall include (a)
a statement that the Person making such certificate or opinion has read such covenant or condition,
(b) a brief statement as to the nature and scope of the examination or investigation upon which the
statements or opinions contained in such certificate or opinion are based, (c) a statement that, in
the opinion of such Person, he has made such examination or investigation as is necessary to enable
him to express an informed opinion as to whether or not such covenant or condition has been
complied with and (d) a statement as to whether or not, in the opinion of such Person, such
condition or covenant has been complied with.

     Section 13.06. Payments Due on Legal Holidays. In any case where the date of maturity of
interest on or principal of and premium, if any, on the Debt Securities of a series or the date
fixed for redemption or repayment of any Debt Security or the making of any sinking fund payment
shall not be a Business Day at any Place of Payment for the Debt Securities of such series, then
payment of interest or principal and premium, if any, or the making of such sinking fund payment
need not be made on such date at such Place of Payment, but may be made on the next succeeding
Business Day at such Place of Payment with the same force and effect as if made on the date of
maturity or the date fixed for redemption, and no interest shall accrue for the period after such
date. If a record date is not a Business Day, the record date shall not be affected.

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

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

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

     Section 13.10. No Recourse Against Others. The Company and its directors, officers,
employees, incorporators and capital stockholders, as such, shall have no liability for any
obligations of the Subsidiary Guarantors or the Company under the Debt Securities, this Indenture
or the Guarantee or for any claim based on, in respect of, or by reason of, such obligations or
their creation. By accepting a Debt Security, each Holder shall be deemed to have waived and
released all such liability. The waiver and release shall be part of the consideration for the
issue of the Debt Securities.

58

 

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

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

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

ARTICLE XIV

GUARANTEE

     Section 14.01. Unconditional Guarantee.

     (a) Notwithstanding any provision of this Article XIV to the contrary, the provisions of this
Article XIV shall be applicable only to, and inure solely to the benefit of, the Debt Securities of
any series designated, pursuant to Section 2.03, as entitled to the benefits of the Guarantee of
each of the Subsidiary Guarantors.

     (b) For value received, each of the Subsidiary Guarantors hereby fully, unconditionally and
absolutely guarantees (the “Guarantee”) to the Holders and to the Trustee the due and punctual
payment of the principal of, and premium, if any, and interest on the Debt Securities and all other
amounts due and payable under this Indenture and the Debt Securities by the Company, when and as
such principal, premium, if any, and interest shall become due and payable, whether at the Stated
Maturity or by declaration of acceleration, call for redemption or otherwise, according to the
terms of the Debt Securities and this Indenture, subject to (i) the limitations set forth in
Section 14.03 and (ii) in the case of the Guarantee of the Subordinated Debt Securities, to the
subordination provisions contained in Article XII.

     (c) Failing payment when due of any amount guaranteed pursuant to the Guarantee, for whatever
reason, each of the Subsidiary Guarantors will be jointly and severally obligated to pay the same
immediately, subject, in the case of the Guarantee of the Subordinated Debt Securities, to the
subordination provisions contained in Article XII. The Guarantee hereunder (other than the
Guarantee of Subordinated Debt Securities) is intended to be a general, unsecured, senior
obligation of each of the Subsidiary Guarantors and will rank pari passu in right of payment with
all Debt of each Subsidiary Guarantor that is not, by its terms, expressly subordinated in right of
payment to the Guarantee. Each of the Subsidiary Guarantors hereby agrees that its obligations
hereunder shall be full, unconditional and absolute, irrespective of the validity, regularity or
enforceability of the Debt Securities, the Guarantee (including the Guarantee of any other
Subsidiary Guarantor) or this Indenture, the absence of any action to enforce the same, any waiver
or consent by any Holder of the Debt Securities with respect to any provisions hereof or thereof,
the recovery of any judgment against the Company or any other Subsidiary Guarantor, or any action
to enforce the same or any other circumstances which might otherwise constitute a legal or
equitable discharge or defense of any of the Subsidiary Guarantors. Each of the Subsidiary
Guarantors hereby agrees that in the event of a default in

59

 

payment of the principal of, or premium, if any, or interest on the Debt Securities, whether
at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise, legal
proceedings may be instituted by the Trustee on behalf of the Holders or, subject to Section 6.04,
by the Holders, on the terms and conditions set forth in this Indenture, directly against such
Subsidiary Guarantor to enforce the Guarantee without first proceeding against the Company or any
other Subsidiary Guarantor.

     (d) The obligations of each of the Subsidiary Guarantors under this Article XIV shall be as
aforesaid full, unconditional and absolute and shall not be impaired, modified, released or limited
by any occurrence or condition whatsoever, including, without limitation, (A) any compromise,
settlement, release, waiver, renewal, extension, indulgence or modification of, or any change in,
any of the obligations and liabilities of the Company or any of the Subsidiary Guarantors contained
in the Debt Securities or this Indenture, (B) any impairment, modification, release or limitation
of the liability of the Company, any of the Subsidiary Guarantors or any of their estates in
bankruptcy, or any remedy for the enforcement thereof, resulting from the operation of any present
or future provision of any applicable Bankruptcy Law, as amended, or other statute or from the
decision of any court, (C) the assertion or exercise by the Company, any of the Subsidiary
Guarantors or the Trustee of any rights or remedies under the Debt Securities or this Indenture or
their delay in or failure to assert or exercise any such rights or remedies, (D) the assignment or
the purported assignment of any property as security for the Debt Securities, including all or any
part of the rights of the Company or any of the Subsidiary Guarantors under this Indenture, (E) the
extension of the time for payment by the Company or any of the Subsidiary Guarantors of any
payments or other sums or any part thereof owing or payable under any of the terms and provisions
of the Debt Securities or this Indenture or of the time for performance by the Company or any of
the Subsidiary Guarantors of any other obligations under or arising out of any such terms and
provisions or the extension or the renewal of any thereof, (F) the modification or amendment
(whether material or otherwise) of any duty, agreement or obligation of the Company or any of the
Subsidiary Guarantors set forth in this Indenture, (G) the voluntary or involuntary liquidation,
dissolution, sale or other disposition of all or substantially all of the assets, marshaling of
assets and liabilities, receivership, insolvency, bankruptcy, assignment for the benefit of
creditors, reorganization, arrangement, composition or readjustment of, or other similar proceeding
affecting, the Company or any of the Subsidiary Guarantors or any of their respective assets, or
the disaffirmance of the Debt Securities, the Guarantee or this Indenture in any such proceeding,
(H) the release or discharge of the Company or any of the Subsidiary Guarantors from the
performance or observance of any agreement, covenant, term or condition contained in any of such
instruments by operation of law, (I) the unenforceability of the Debt Securities, the Guarantee or
this Indenture or (J) any other circumstances (other than payment in full or discharge of all
amounts guaranteed pursuant to the Guarantee) which might otherwise constitute a legal or equitable
discharge of a surety or guarantor.

     (e) Each of the Subsidiary Guarantors hereby (A) waives diligence, presentment, demand of
payment, filing of claims with a court in the event of the merger, insolvency or bankruptcy of the
Company or any of the Subsidiary Guarantors, and all demands whatsoever, (B) acknowledges that any
agreement, instrument or document evidencing the Guarantee may be transferred and that the benefit
of its obligations hereunder shall extend to each holder of any agreement, instrument or document
evidencing the Guarantee without notice to it and

60

 

(C) covenants that the Guarantee will not be discharged except by complete performance of the
Guarantee. Each of the Subsidiary Guarantors further agrees that if at any time all or any part of
any payment theretofore applied by any Person to the Guarantee is, or must be, rescinded or
returned for any reason whatsoever, including without limitation, the insolvency, bankruptcy or
reorganization of the Company or any of the Subsidiary Guarantors, the Guarantee shall, to the
extent that such payment is or must be rescinded or returned, be deemed to have continued in
existence notwithstanding such application, and the Guarantee shall continue to be effective or be
reinstated, as the case may be, as though such application had not been made.

     (f) Each of the Subsidiary Guarantors shall be subrogated to all rights of the Holders and the
Trustee against the Company in respect of any amounts paid by such Subsidiary Guarantor pursuant to
the provisions of this Indenture, provided, however, that such Subsidiary Guarantor, shall not be
entitled to enforce or to receive any payments arising out of, or based upon, such right of
subrogation until all of the Debt Securities and the Guarantee shall have been paid in full or
discharged.

     Section 14.02. Execution and Delivery of Guarantee. To further evidence the Guarantee set
forth in Section 14.01, each of the Subsidiary Guarantors hereby agrees that a notation relating to
such Guarantee, substantially in the form attached hereto as Annex A, shall be endorsed on each
Debt Security entitled to the benefits of the Guarantee authenticated and delivered by the Trustee
and executed by either manual or facsimile signature of an officer of such Subsidiary Guarantor, or
in the case of a Subsidiary Guarantor that is a limited Company, an officer of the Company of each
Subsidiary Guarantor. Each of the Subsidiary Guarantors hereby agrees that the Guarantee set forth
in Section 14.01 shall remain in full force and effect notwithstanding any failure to endorse on
each Debt Security a notation relating to the Guarantee. If any officer of any Subsidiary
Guarantor, or in the case of a Subsidiary Guarantor that is a limited Company, any officer of the
Company of the Subsidiary Guarantor, whose signature is on this Indenture or a Debt Security no
longer holds that office at the time the Trustee authenticates such Debt Security or at any time
thereafter, the Guarantee of such Debt Security shall be valid nevertheless. The delivery of any
Debt Security by the Trustee, after the authentication thereof hereunder, shall constitute due
delivery of the Guarantee set forth in this Indenture on behalf of the Subsidiary Guarantors.

     The Trustee hereby accepts the trusts in this Indenture upon the terms and conditions herein
set forth.

     Section 14.03. Limitation on Subsidiary Guarantors’ Liability.

     (a) Each Subsidiary Guarantor and by its acceptance hereof each Holder of a Debt Security
entitled to the benefits of the Guarantee hereby confirm that it is the intention of all such
parties that the guarantee by such Subsidiary Guarantor pursuant to the Guarantee not constitute a
fraudulent transfer or conveyance for purposes of any Federal or state law. To effectuate the
foregoing intention, the Holders of a Debt Security entitled to the benefits of the Guarantee and
the Subsidiary Guarantors hereby irrevocably agree that the obligations of each Subsidiary
Guarantor under the Guarantee shall be limited to the maximum amount as will, after giving effect
to all other contingent and fixed liabilities of such Subsidiary Guarantor and to any collections
from or payments made by or on behalf of any other Subsidiary Guarantor in respect

61

 

of the obligations of such other Subsidiary Guarantor under the Guarantee, not result in the
obligations of such Subsidiary Guarantor under the Guarantee constituting a fraudulent conveyance
or fraudulent transfer under Federal or state law.

     Section 14.04. Release of Subsidiary Guarantors from Guarantee.

     (a) Notwithstanding any other provisions of this Indenture, the Guarantee of any Subsidiary
Guarantor may be released upon the terms and subject to the conditions set forth in Section
11.02(b) and in this Section 14.04. Provided that no Default shall have occurred and shall be
continuing under this Indenture, the Guarantee incurred by a Subsidiary Guarantor pursuant to this
Article XIV shall be unconditionally released and discharged (i) automatically upon (A) any sale,
exchange or transfer, whether by way of merger or otherwise, to any Person that is not an Affiliate
of the Company, of all of the Company’s direct or indirect limited Company or other equity
interests in such Subsidiary Guarantor (provided such sale, exchange or transfer is not prohibited
by this Indenture) or (B) the merger of such Subsidiary Guarantor into the Company or any other
Subsidiary Guarantor or the liquidation and dissolution of such Subsidiary Guarantor (in each case
to the extent not prohibited by this Indenture) or (ii) following delivery of a written notice of
such release or discharge by the Company to the Trustee, upon the release or discharge of all
guarantees by such Subsidiary Guarantor of any Debt of the Company other than obligations arising
under this Indenture and any Debt Securities issued hereunder, except a discharge or release by or
as a result of payment under such guarantees.

     (b) The Trustee shall deliver an appropriate instrument evidencing any release of a Subsidiary
Guarantor from the Guarantee upon receipt of a written request of the Company accompanied by an
Officers’ Certificate and an Opinion of Counsel to the effect that the Subsidiary Guarantor is
entitled to such release in accordance with the provisions of this Indenture. Any Subsidiary
Guarantor not so released shall remain liable for the full amount of principal of (and premium, if
any) and interest on the Debt Securities entitled to the benefits of the Guarantee as provided in
this Indenture, subject to the limitations of Section 14.03.

     Section 14.05. Subsidiary Guarantor Contribution. In order to provide for just and
equitable contribution among the Subsidiary Guarantors, the Subsidiary Guarantors hereby agree,
inter se, that in the event any payment or distribution is made by any Subsidiary Guarantor (a
“Funding Guarantor”) under the Guarantee, such Funding Guarantor shall be entitled to a
contribution from each other Subsidiary Guarantor (if any) in a pro rata amount based on the net
assets of each Subsidiary Guarantor (including the Funding Guarantor) for all payments, damages and
expenses incurred by that Funding Guarantor in discharging the Company’s obligations with respect
to the Debt Securities or any other Subsidiary Guarantor’s obligations with respect to the
Guarantee.

[Remainder of This Page Intentionally Left Blank.]

62

 

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

	 	 	 	 	 	 	 
	 	 	COPANO ENERGY, L.L.C.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Copano Energy, L.L.C.,	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

[ ]
	 	 
	 

	 	 	 	Senior Vice President and Chief Financial	 	 
	 

	 	 	 	Officer	 	 
	 
	 	 	 	 	 	 
	 	 	[NAME OF SUBSIDIARY GUARANTOR(S)]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	[____________________], as Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

63

 

ANNEX A

NOTATION OF GUARANTEE

     Each of the Subsidiary Guarantors (which term includes any successor Person under the
Indenture), has fully, unconditionally and absolutely guaranteed, to the extent set forth in the
Indenture and subject to the provisions in the Indenture, the due and punctual payment of the
principal of, and premium, if any, and interest on the Debt Securities and all other amounts due
and payable under the Indenture and the Debt Securities by the Company.

     The obligations of the Subsidiary Guarantors to the Holders of Debt Securities and to the
Trustee pursuant to the Guarantee and the Indenture are expressly set forth in Article XIV of the
Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee.

	 	 	 	 	 	 	 
	 	 	[NAME OF SUBSIDIARY GUARANTOR(S)]	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

A-1exv4w4

 

Exhibit
4.4

 

COPANO ENERGY, L.L.C.

COPANO ENERGY FINANCE CORPORATION

AND

THE GUARANTORS NAMED ON THE SIGNATURE PAGE HEREOF

 

8.125% SENIOR NOTES DUE 2016

 

INDENTURE

Dated as of February 7, 2006

 

U.S. BANK NATIONAL ASSOCIATION,

As Trustee

 

 

 

CROSS-REFERENCE TABLE*

	 	 	 	 	 
	Trust Indenture	 	Indenture
	Act Section	 	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)
	 	 	11.03	 
	(c)
	 	 	11.03	 
	313(a)
	 	 	7.06	 
	(b)(1)
	 	 	7.06	 
	(b)(2)
	 	 	7.06, 7.07	 
	(c)
	 	 	7.06, 11.02	 
	(d)
	 	 	7.06	 
	314(a)
	 	 	4.03, 4.04, 11.02	 
	(b)
	 	 	N/A	 
	(c)(1)
	 	 	11.04	 
	(c)(2)
	 	 	11.04	 
	(c)(3)
	 	 	N/A	 
	(d)
	 	 	N/A	 
	(e)
	 	 	11.05	 
	(f)
	 	 	N/A	 
	315(a)
	 	 	7.01	 
	(b)
	 	 	7.05, 11.02	 
	(c)
	 	 	7.01	 
	(d)
	 	 	7.01	 
	(e)
	 	 	6.11	 
	316(a)(last sentence)
	 	 	2.08	 
	(a)(1)(A)
	 	 	6.05	 
	(a)(1)(B)
	 	 	6.04	 
	(a)(2)
	 	 	N/A	 
	(b)
	 	 	6.07	 
	(c)
	 	 	9.04	 
	317(a)(1)
	 	 	6.08	 
	(a)(2)
	 	 	6.09	 
	(b)
	 	 	2.04	 
	318(a)
	 	 	11.01	 
	(b)
	 	 	N/A	 
	(c)
	 	 	11.01	 

 

			
	 	 	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	 	 	1	 
	 

	 	Section 1.01.
	 	Definitions.
	 	 	1	 
	 

	 	Section 1.02.
	 	Other Definitions.
	 	 	24	 
	 

	 	Section 1.03.
	 	Incorporation by Reference of Trust Indenture Act.
	 	 	25	 
	 

	 	Section 1.04.
	 	Rules of Construction.
	 	 	25	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 2 THE NOTES	 	 	26	 
	 

	 	Section 2.01.
	 	Form and Dating.
	 	 	26	 
	 

	 	Section 2.02.
	 	Execution and Authentication.
	 	 	26	 
	 

	 	Section 2.03.
	 	Registrar and Paying Agent.
	 	 	27	 
	 

	 	Section 2.04.
	 	Paying Agent to Hold Money in Trust.
	 	 	27	 
	 

	 	Section 2.05.
	 	Noteholder Lists.
	 	 	27	 
	 

	 	Section 2.06.
	 	Transfer and Exchange.
	 	 	28	 
	 

	 	Section 2.07.
	 	Replacement Notes.
	 	 	28	 
	 

	 	Section 2.08.
	 	Outstanding Notes.
	 	 	28	 
	 

	 	Section 2.09.
	 	Temporary Notes.
	 	 	29	 
	 

	 	Section 2.10.
	 	Cancellation.
	 	 	29	 
	 

	 	Section 2.11.
	 	Defaulted Interest.
	 	 	29	 
	 

	 	Section 2.12.
	 	CUSIP Numbers.
	 	 	29	 
	 

	 	Section 2.13.
	 	Issuance of Additional Notes.
	 	 	29	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 3 REDEMPTION AND PREPAYMENT	 	 	30	 
	 

	 	Section 3.01.
	 	Notices to Trustee.
	 	 	30	 
	 

	 	Section 3.02.
	 	Selection of Notes to Be Redeemed.
	 	 	30	 
	 

	 	Section 3.03.
	 	Notice of Redemption.
	 	 	31	 
	 

	 	Section 3.04.
	 	Effect of Notice of Redemption.
	 	 	32	 
	 

	 	Section 3.05.
	 	Deposit of Redemption Price.
	 	 	32	 
	 

	 	Section 3.06.
	 	Notes Redeemed in Part.
	 	 	33	 
	 

	 	Section 3.07.
	 	Optional Redemption.
	 	 	33	 
	 

	 	Section 3.08.
	 	Mandatory Redemption.
	 	 	34	 
	 

	 	Section 3.09.
	 	Offer to Purchase by Application of Excess Proceeds.
	 	 	34	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 4 COVENANTS	 	 	35	 
	 

	 	Section 4.01.
	 	Payment of Notes
	 	 	35	 
	 

	 	Section 4.02.
	 	Maintenance of Office or Agency
	 	 	36	 
	 

	 	Section 4.03.
	 	Reports
	 	 	37	 
	 

	 	Section 4.04.
	 	Compliance Certificate
	 	 	37	 
	 

	 	Section 4.05.
	 	Taxes
	 	 	38	 
	 

	 	Section 4.06.
	 	Stay, Extension and Usury Laws
	 	 	38	 
	 

	 	Section 4.07.
	 	Limitation on Restricted Payments
	 	 	38	 
	 

	 	Section 4.08.
	 	Limitation on Dividend and Other Payment Restrictions
Affecting Subsidiaries
	 	 	41	 
	 

	 	Section 4.09.
	 	Limitation on Incurrence of Indebtedness and
Issuance of Preferred Stock
	 	 	43	 

ii

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	 

	 	Section 4.10.
	 	Limitation on Asset Sales.
	 	 	46	 
	 

	 	Section 4.11.
	 	Limitation on Transactions with Affiliates
	 	 	47	 
	 

	 	Section 4.12.
	 	Limitation on Liens
	 	 	49	 
	 

	 	Section 4.13.
	 	Additional Subsidiary Guarantees
	 	 	49	 
	 

	 	Section 4.14.
	 	Corporate Existence
	 	 	50	 
	 

	 	Section 4.15.
	 	Offer to Repurchase Upon Change of Control
	 	 	50	 
	 

	 	Section 4.16.
	 	No Inducements
	 	 	52	 
	 

	 	Section 4.17.
	 	Permitted Business Activities.
	 	 	53	 
	 

	 	Section 4.18.
	 	Sale and Leaseback Transactions.
	 	 	53	 
	 

	 	Section 4.19.
	 	Covenant Termination.
	 	 	53	 
	 

	 	Section 4.20.
	 	Designation of Restricted and Unrestricted Subsidiaries.
	 	 	53	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 5 SUCCESSORS	 	 	54	 
	 

	 	Section 5.01.
	 	Merger, Consolidation, or Sale of Assets
	 	 	54	 
	 

	 	Section 5.02.
	 	Successor Substituted
	 	 	56	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 6 DEFAULTS AND REMEDIES	 	 	56	 
	 

	 	Section 6.01.
	 	Events of Default
	 	 	56	 
	 

	 	Section 6.02.
	 	Acceleration
	 	 	58	 
	 

	 	Section 6.03.
	 	Other Remedies
	 	 	59	 
	 

	 	Section 6.04.
	 	Waiver of Past Defaults
	 	 	59	 
	 

	 	Section 6.05.
	 	Control by Majority
	 	 	59	 
	 

	 	Section 6.06.
	 	Limitation on Suits
	 	 	60	 
	 

	 	Section 6.07.
	 	Rights of Holders of Notes to Receive Payment
	 	 	60	 
	 

	 	Section 6.08.
	 	Collection Suit by Trustee
	 	 	60	 
	 

	 	Section 6.09.
	 	Trustee May File Proofs of Claim
	 	 	60	 
	 

	 	Section 6.10.
	 	Priorities
	 	 	61	 
	 

	 	Section 6.11.
	 	Undertaking for Costs
	 	 	61	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 7 TRUSTEE	 	 	62	 
	 

	 	Section 7.01.
	 	Duties of Trustee
	 	 	62	 
	 

	 	Section 7.02.
	 	Rights of Trustee
	 	 	63	 
	 

	 	Section 7.03.
	 	Individual Rights of Trustee
	 	 	63	 
	 

	 	Section 7.04.
	 	Trustee’s Disclaimer
	 	 	64	 
	 

	 	Section 7.05.
	 	Notice of Defaults
	 	 	64	 
	 

	 	Section 7.06.
	 	Reports by Trustee to Holders of the Notes
	 	 	64	 
	 

	 	Section 7.07.
	 	Compensation and Indemnity
	 	 	64	 
	 

	 	Section 7.08.
	 	Replacement of Trustee
	 	 	65	 
	 

	 	Section 7.09.
	 	Successor Trustee by Merger, etc.
	 	 	66	 
	 

	 	Section 7.10.
	 	Eligibility; Disqualification
	 	 	66	 
	 

	 	Section 7.11.
	 	Preferential Collection of Claims Against Issuers
	 	 	67	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 8 LEGAL DEFEASANCE AND COVENANT DEFEASANCE	 	 	67	 
	 

	 	Section 8.01.
	 	Option to Effect Legal Defeasance or Covenant Defeasance
	 	 	67	 
	 

	 	Section 8.02.
	 	Legal Defeasance and Discharge
	 	 	67	 
	 

	 	Section 8.03.
	 	Covenant Defeasance
	 	 	68	 
	 

	 	Section 8.04.
	 	Conditions to Legal or Covenant Defeasance
	 	 	68	 
	 

	 	Section 8.05.
	 	Deposited Money and Government Securities to
be Held in Trust; Other Miscellaneous Provisions
	 	 	70	 

iii

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	 

	 	Section 8.06.
	 	Repayment to Issuers
	 	 	70	 
	 

	 	Section 8.07.
	 	Reinstatement
	 	 	71	 
	 

	 	Section 8.08.
	 	Discharge.
	 	 	71	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 9 AMENDMENT, SUPPLEMENT AND WAIVER	 	 	72	 
	 

	 	Section 9.01.
	 	Without Consent of Holders of Notes
	 	 	72	 
	 

	 	Section 9.02.
	 	With Consent of Holders of Notes
	 	 	73	 
	 

	 	Section 9.03.
	 	Compliance with Trust Indenture Act
	 	 	74	 
	 

	 	Section 9.04.
	 	Revocation and Effect of Consents
	 	 	74	 
	 

	 	Section 9.05.
	 	Notation on or Exchange of Notes
	 	 	75	 
	 

	 	Section 9.06.
	 	Trustee to Sign Amendments, etc.
	 	 	75	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 10 GUARANTEES OF NOTES	 	 	75	 
	 

	 	Section 10.01.
	 	Subsidiary Guarantees
	 	 	75	 
	 

	 	Section 10.02.
	 	[Reserved]
	 	 	76	 
	 

	 	Section 10.03.
	 	Guarantors May Consolidate, etc., on Certain Terms
	 	 	77	 
	 

	 	Section 10.04.
	 	Releases of Subsidiary Guarantees
	 	 	77	 
	 

	 	Section 10.05.
	 	[Reserved]
	 	 	78	 
	 

	 	Section 10.06.
	 	Limitation on Guarantor Liability
	 	 	78	 
	 

	 	Section 10.07.
	 	“Trustee” to Include Paying Agent
	 	 	78	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE 11 MISCELLANEOUS	 	 	78	 
	 

	 	Section 11.01.
	 	Trust Indenture Act Controls
	 	 	78	 
	 

	 	Section 11.02.
	 	Notices
	 	 	78	 
	 

	 	Section 11.03.
	 	Communication by Holders of Notes with Other Holders of Notes
	 	 	79	 
	 

	 	Section 11.04.
	 	Certificate and Opinion as to Conditions Precedent
	 	 	80	 
	 

	 	Section 11.05.
	 	Statements Required in Certificate or Opinion
	 	 	80	 
	 

	 	Section 11.06.
	 	Rules by Trustee and Agents
	 	 	80	 
	 

	 	Section 11.07.
	 	No Personal Liability of Directors, Officers, Employees
and Unitholders
	 	 	80	 
	 

	 	Section 11.08.
	 	Governing Law
	 	 	81	 
	 

	 	Section 11.09.
	 	No Adverse Interpretation of Other Agreements
	 	 	81	 
	 

	 	Section 11.10.
	 	Successors
	 	 	81	 
	 

	 	Section 11.11.
	 	Severability
	 	 	81	 
	 

	 	Section 11.12.
	 	Table of Contents, Headings, etc.
	 	 	81	 
	 

	 	Section 11.13.
	 	Counterparts
	 	 	81	 

iv

 

APPENDIX AND ANNEXES

	 	 	 	 	 
	RULE 144A/REGULATION S APPENDIX	 	App. - 1
	 
	 	 	 	 
	 

	 	EXHIBIT 1 Form of Initial Note	 	 
	 

	 	EXHIBIT A Form of Exchange	 	 
	 

	 	Note or Private Exchange Note	 	 
	 
	 	 	 	 
	ANNEX A

	 	Form of Supplemental Indenture
	 	A - 1
	 
	 	 	 	 
	ANNEX B

	 	Form of Registration Rights Agreement
	 	B - 1

v

 

     This Indenture, dated as of February 7, 2006 is among Copano Energy, L.L.C., a Delaware
limited liability company (the “Company”), Copano Energy Finance Corporation, a Delaware
corporation (“Finance Corp.” and, together with the Company, the “Issuers”), the guarantors listed
on the signature page hereof (each, a “Guarantor” and, collectively, the “Guarantors”) and U.S.
Bank National Association, a national banking association, as trustee (the “Trustee”).

     The Issuers, the Guarantors and the Trustee agree as follows for the benefit of each other and
for the equal and ratable benefit of the Holders of the Issuers’ Initial Notes, Exchange Notes,
Private Exchange Notes and Additional Notes:

ARTICLE 1

DEFINITIONS AND INCORPORATION

BY REFERENCE

Section 1.01. Definitions.

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

     (1) Indebtedness of any other Person existing at the time such other Person was 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 Subsidiary of, such specified Person, but excluding
Indebtedness which is extinguished, retired or repaid in connection with such Person merging
with or becoming a Subsidiary or such specified Person; and

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

     “Additional Interest” means all Additional Interest then owing pursuant to Section 5 of the
Registration Rights Agreement referred to in clause (1) of the definition of “Registration Rights
Agreement” in the Appendix. Unless the context indicates otherwise, all references to “interest”
in this Indenture or the Notes shall be deemed to include any Additional Interest.

     “Additional Notes” means, subject to the Company’s compliance with Section 4.09, 8.125% Senior
Notes due 2016 issued from time to time after the Initial Issuance Date under the terms of this
Indenture (other than pursuant to Section 2.06, 2.07, 2.09 or 3.06 of this Indenture and other than
Exchange Notes or Private Exchange Notes issued pursuant to an exchange offer for other Notes
outstanding under this Indenture).

     “Administrative and Operating Services Agreement” means the Administrative and Operating
Services Agreement, dated as of November 1, 2004, by and among Copano/Operations, Inc., a Texas
corporation, the Company and the additional entities named therein.

     “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 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, however, that beneficial ownership of 10% or more of the Voting
Stock of a Person will be deemed to be control by the other Person; and further, that any third
Person which also beneficially owns 10% or more of the Voting Stock of a specified Person shall not
be deemed to be an Affiliate of either the specified Person or the other Person merely because of
such common ownership in such specified Person. For purposes of this definition, the terms
“controlling,” “controlled by” and “under common control with” have correlative meanings.

     “Agent” means any Registrar or Paying Agent.

     “Agent Members” has the meaning provided in the Appendix.

     “Applicable Law,” except as the context may otherwise require, means all applicable laws,
rules, regulations, ordinances, judgments, decrees, injunctions, writs and orders of any court or
governmental or congressional agency or authority and rules, regulations, orders, licenses and
permits of any United States federal, state, municipal, regional, or other governmental body,
instrumentality, agency or authority.

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

     “Asset Sale” means:

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

     (2) the issuance of Equity Interests in any of the Company’s Restricted Subsidiaries or
the sale of Equity Interests in any of its Restricted Subsidiaries.

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

     (1) any single transaction or series of related transactions that involves properties
or assets having a fair market value of less than $10.0 million;

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

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

     (4) the sale, lease or other disposition of equipment, inventory, accounts receivable
or other properties or assets in the ordinary course of business;

2

 

     (5) the sale or other disposition of cash or Cash Equivalents, Hedging Contracts or
other financial instruments in the ordinary course of business;

     (6) a Restricted Payment that is permitted by Section 4.07 or a Permitted Investment;

     (7) any trade or exchange by the Company or any Restricted Subsidiary of properties or
assets for properties or assets owned or held by another Person, provided that the fair
market value of the properties or assets traded or exchanged by the Company or such
Restricted Subsidiary (together with any cash) is reasonably equivalent to the fair market
value of the properties or assets (together with any cash) to be received by the Company or
such Restricted Subsidiary, and provided further that any net cash received must be applied
in accordance with the provisions of Section 4.10;

     (8) the creation or perfection of a Lien that is not prohibited by Section 4.12;

     (9) dispositions in connection with Permitted Liens;

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

     (11) the grant in the ordinary course of business of any non-exclusive license of
patents, trademarks, registrations therefor and other similar intellectual property.

     “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. As used in the preceding sentence, the “net
rental payments” under any lease for any such period shall mean the sum of rental and other
payments required to be paid with respect to such period by the lessee thereunder, excluding any
amounts required to be paid by such lessee on account of maintenance and repairs, insurance, taxes,
assessments, water rates or similar charges. In the case of any lease that is terminable by the
lessee upon payment of penalty, such net rental payment shall also include the amount of such
penalty, but no rent shall be considered as required to be paid under such lease subsequent to the
first date upon which it may be so terminated.

     “Available Cash” has the meaning assigned to such term in the LLC Agreement, as in effect on
the date of this Indenture.

     “Bankruptcy Law” means Title 11, United States Code, as may be amended from time to time, or
any similar federal or state law for the relief of debtors.

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

3

 

by conversion or exercise of other securities, whether such right is currently exercisable or
is exercisable only upon the occurrence of a subsequent condition. The terms “Beneficially Owns”
and “Beneficially Owned” have correlative meanings.

“Board of Directors” means:

     (1) with respect to Finance Corp., the board of directors of Finance Corp.;

     (2) with respect to the Company, the Board of Directors of the Company or any
authorized committee thereof; and

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

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

     “Business Day” means each day that is not a Saturday, Sunday or other day on which banking
institutions in Houston, Texas or in New York, New York or another place of payment are authorized
or required by law to close.

     “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 in accordance with GAAP.

“Capital Stock” means:

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

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

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

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

“Cash Equivalents” means:

     (1) United States 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

4

 

(provided that the full faith and credit of the United States is pledged in support of
those securities) having maturities of not more than six months from the date of
acquisition;

     (3) certificates of deposit and eurodollar time deposits with maturities of one year or
less from the date of acquisition, bankers’ acceptances with maturities not exceeding one
year and overnight bank deposits, in each case, with any lender party to the Credit
Agreement or 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) 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 the highest rating obtainable from Moody’s or S&P and in
each case maturing within six months after the date of acquisition; and

     (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.

“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 (including Capital Stock of the
Restricted Subsidiaries) of the Company and its Restricted Subsidiaries taken as a whole, to
any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), which
occurrence is followed by a Rating Decline within 90 days of the consummation of such
transaction;

     (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 that term is used in Section
13(d)(3) of the Exchange Act) 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, units or the like, which occurrence is followed by a Rating Decline within 90 days
thereof; or

     (4) the first day on which a majority of the members of the Board of Directors of the
Company are not Continuing Directors, which occurrence is followed by a Rating Decline
within 90 days thereof.

     Notwithstanding the preceding, a conversion of the Company or any of its Restricted
Subsidiaries from a limited liability company, corporation, limited partnership or other form of
entity to a limited liability company, corporation, limited partnership or other form of entity or
an exchange of all of the outstanding Equity Interests in one form of entity for Equity Interests
for another form of entity shall not constitute a Change of Control, so long as following such

5

 

conversion or exchange the “persons” (as that term is used in Section 13(d)(3) of the Exchange
Act) who Beneficially Owned the Capital Stock of the Company immediately prior to such transactions
continue to Beneficially Own in the aggregate more than 50% of the Voting Stock of such entity, or
continue to Beneficially Own sufficient Equity Interests in such entity to elect a majority of its
directors, managers, trustees or other persons serving in a similar capacity for such entity, and,
in either case no “person” Beneficially Owns more than 50% of the Voting Stock of such entity.

     “Clearstream” means Clearstream Banking, société anonyme, or any successor securities clearing
agency.

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

     “Commission” or “SEC” means the Securities and Exchange Commission.

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

     (1) an amount equal to 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

     (3) consolidated interest expense of such Person and its Restricted Subsidiaries for
such period, whether paid or accrued and whether or not capitalized (including, without
limitation, amortization of debt issuance costs and original issue discount, non-cash
interest payments, the interest component of any deferred payment obligations, the interest
component of all payments associated with Capital Lease Obligations, imputed interest with
respect to Attributable Debt, commissions, discounts and other fees and charges incurred in
respect of letter of credit or bankers’ acceptance financings), and net of the effect of all
payments made or received pursuant to interest rate Hedging Contracts, to the extent that
any such expense was deducted in computing such Consolidated Net Income; plus

     (4) depreciation and amortization (including amortization of intangibles but excluding
amortization of prepaid cash expenses that were paid in a prior period), impairment 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 and amortization,
impairment and other non-cash expenses were deducted in computing such Consolidated Net
Income; plus

6

 

     (5) unrealized non-cash losses resulting from foreign currency balance sheet
adjustments required by GAAP to the extent such losses were deducted in computing such
Consolidated Net Income; plus

     (6) all extraordinary, unusual or non-recurring items of gain or loss, or revenue or
expense; minus

     (7) non-cash items increasing such Consolidated Net Income for such period, other than
items that were accrued 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, but only to the
extent of the amount of dividends or 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 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 judgment, decree, order, statute, rule or governmental
regulation applicable to that Restricted Subsidiary or its stockholders, partners or
members;

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

     (4) unrealized losses and gains under derivative instruments included in the
determination of Consolidated Net Income, including, without limitation those resulting from
the application of Statement of Financial Accounting Standards No. 133 will be excluded; and

     (5) any nonrecurring charges relating to any premium or penalty paid, write off of
deferred finance costs or other charges in connection with redeeming or retiring any
Indebtedness prior to its Stated Maturity will be excluded.

     “Consolidated Net Tangible Assets” means, with respect to any Person at any date of
determination, the aggregate amount of total assets included in such Person’s most recent quarterly
or annual consolidated balance sheet prepared in accordance with GAAP less applicable reserves
reflected in such balance sheet, after deducting the following amounts: (a) all current
liabilities reflected in such balance sheet, and (b) all goodwill, trademarks, patents, unamortized
debt discounts and expenses and other like intangibles reflected in such balance sheet.

7

 

     “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 at the time of such
nomination or election.

     “Corporate Trust Office of the Trustee” means the office of the Trustee in the City of New
York at which at any time its corporate trust business shall be administered, which office at the
date hereof is located at 100 Wall Street, Suite 1600, New York, New York 10005, Attn: Corporate
Trust Department, or such other address in the City of New York as the Trustee may designate from
time to time by notice to the Holders and the Issuers, or the principal corporate trust office in
the City of New York of any successor Trustee (or such other address as a successor Trustee may
designate from time to time by notice to the Holders and the Issuers).

     “Credit Agreement” means that certain Credit Agreement, dated as of August 1, 2005, among the
Company, Bank of America, N.A., as Administrative Agent and L/C Issuer, and the other lenders 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 or refinanced from time to time.

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

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

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

     “Depository” has the meaning provided in the Appendix.

     “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 or redeem such Capital Stock upon the occurrence of

8

 

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.

     “Domestic Subsidiary” 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 any public or private sale of Capital Stock (other than Disqualified
Stock) made for cash on a primary basis by the Company after the date of this Indenture, provided
that at any time on or after a Change of Control, any sale of Capital Stock to an Affiliate of the
Company shall not be deemed an Equity Offering.

     “Euroclear” means Euroclear Bank S.A./N.V. or any successor securities clearing agency.

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

     “Exchange Notes” has the meaning specified in the Appendix.

     “Existing Indebtedness” means the aggregate principal amount of Indebtedness of the Company
and its Restricted Subsidiaries (other than Indebtedness under the Credit Agreement which is
considered incurred under the first paragraph of Section 4.09 and other than intercompany
indebtedness) in existence on the date of this Indenture, until such amounts are repaid.

     “FERC Subsidiary” means a Restricted Subsidiary of the Company that is subject to the
regulatory jurisdiction of the Federal Energy Regulatory Commission (or any successor thereof).

     “Fixed Charge Coverage Ratio” means with respect to any specified Person for any four-quarter
reference 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 or redeems any
Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems
preferred stock subsequent to the commencement of the applicable four-quarter reference period 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 or
redemption 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 such period.

9

 

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, consolidations or otherwise (including acquisitions
of assets used in a Permitted Business), and including in each case any related financing
transactions (including repayment of Indebtedness) 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, including any Consolidated Cash Flow and any pro forma expense and cost
reductions that have occurred or are reasonably expected to occur, in the reasonable
judgment of the chief financial or accounting officer of the Company (regardless of whether
those cost savings or operating improvements could then be reflected in pro forma financial
statements in accordance with Regulation S-X promulgated under the Securities Act or any
other regulation or policy of the Commission related thereto);

     (2) the Consolidated Cash Flow attributable to discontinued operations, as determined
in accordance with GAAP, and operations or businesses 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 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; and

     (4) interest income reasonably anticipated by such Person to be received during the
applicable four-quarter period from cash or Cash Equivalents held by such Person or any
Restricted Subsidiary of such Person, which cash or Cash Equivalents exist on the
Calculation Date or will exist as a result of the transaction giving rise to the need to
calculate the Fixed Charge Coverage Ratio, will be included.

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

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

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

10

 

     (3) any interest expense 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) all dividends on any series of preferred securities of such Person or any of its
Restricted Subsidiaries, whether paid or accrued and whether or not in cash, 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,

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

     “GAAP” means generally accepted accounting principles in the United States, which are in
effect on the date of this Indenture.

     “Global Note” has the meaning provided in the Appendix.

     “Government Securities” means direct obligations of, or obligations guaranteed by, the United
States of America for the payment of which guarantee or obligations the full faith and credit of
the United States is pledged.

     The term “guarantee” means a guarantee other than by endorsement of negotiable instruments for
collection in the ordinary course of business, direct or indirect, in any manner including, without
limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements
in respect thereof, of all or any part of any Indebtedness. When used as a verb, “guarantee” has a
correlative meaning.

     “Guarantors” means each of (a) the Subsidiaries of the Company, other than Finance Corp.,
executing this Indenture as initial Guarantors, (b) any other Restricted Subsidiary of the Company
that executes a supplement to this Indenture in accordance with Section 4.13 or 10.03 hereof and
(c) the respective successors and assigns of such Restricted Subsidiaries, as required under
Article 10 hereof, in each case until such time as any such Restricted Subsidiary shall be released
and relieved of its obligations pursuant to Section 8.02, 8.03 or 10.04 hereof.

“Hedging Contracts“” means, with respect to any specified Person:

     (1) interest rate swap agreements, interest rate cap agreements and interest rate
collar agreements entered into with one of more financial institutions and designed to
protect the Person or any of its Restricted Subsidiaries entering into the agreement against
fluctuations in interest rates with respect to Indebtedness incurred;

     (2) foreign exchange contracts and currency protection agreements entered into with one
of more financial institutions and designed to protect the Person or any of its Restricted
Subsidiaries entering into the agreement against fluctuations in currency exchanges rates
with respect to Indebtedness incurred and not for purposes of speculation;

11

 

     (3) any commodity futures contract, commodity option or other similar agreement or
arrangement designed to protect against fluctuations in the price of Hydrocarbons used,
produced, processed or sold by that Person or any of its Restricted Subsidiaries at the
time; and

     (4) other agreements or arrangements designed to protect such Person or any of its
Restricted Subsidiaries against fluctuations in interest rates, commodity prices or currency
exchange rates,

and in each case are entered into only in the normal course of business and not for speculative
purposes.

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

     “Hydrocarbons” means crude oil, natural gas, casinghead gas, drip gasoline, natural gasoline,
condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all constituents, elements or
compounds thereof and products refined or processed therefrom.

     “Indebtedness” means, with respect to any specified Person, any indebtedness of such Person,
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 bankers’ acceptances;

          (4) representing Capital Lease Obligations;

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

          (6) representing any obligations under Hedging Contracts,

if and to the extent any of the preceding items (other than letters of credit and obligations under
Hedging Contracts) would appear as a liability upon a balance sheet of the specified Person
prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness
of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness
is assumed by the specified Person) and, to the extent not otherwise included, the guarantee by the
specified Person of any Indebtedness of any other Person. For the avoidance of doubt, the term
“Indebtedness” excludes any obligation arising from any agreement providing for indemnities,
purchase price adjustments, holdbacks, contingency payment obligations based on the performance of
the acquired or disposed assets or similar obligations (other than guarantees of Indebtedness)
incurred by the Company or any of its Restricted Subsidiaries in connection with the acquisition or
disposition of assets.

12

 

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) in the case of obligations under any Hedging Contracts, the termination value of
the agreement or arrangement giving rise to such obligations that would be payable by such
Person at such date; and

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

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

“Initial Issuance Date” means February 7, 2006.

“Initial Notes” has the meaning provided in the Appendix.

“Initial Purchasers” has the meaning provided in the Appendix.

     “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by
Moody’s and BBB- (or the equivalent) by S&P.

     “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 (1) commission, travel and similar
advances to officers and employees made in the ordinary course of business and (2) advances to
customers in the ordinary course of business that are recorded as accounts receivable on the
balance sheet of the lender), 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 Restricted
Subsidiary of the Company sells or otherwise disposes of any Equity Interests of any direct or
indirect Restricted Subsidiary of the Company such that, after giving effect to any such sale or
disposition, such Person is no longer a Restricted Subsidiary of the Company, the Company will be
deemed to have made an Investment on the date of any such sale or disposition in an amount equal to
the fair market value of the Equity Interests of such Restricted Subsidiary not sold or disposed of
in an amount determined as provided in the final paragraph of Section 4.07. The acquisition by the
Company or any Subsidiary of the Company of a Person that holds an Investment in a third Person
will be deemed to be an Investment made by the Company or such Subsidiary in such third Person in
an amount equal to the fair market value of the Investment held by the acquired Person in such
third Person on the date of any such acquisition in an amount determined as provided in the final
paragraph of Section 4.07.

     “Joint Venture” means any Person that is not a direct or indirect Subsidiary of the Company in
which the Company or any of its Restricted Subsidiaries makes any Investment.

13

 

     “Legal Holiday” means any calendar day other than a Business Day. If a payment date is a
Legal Holiday, payment may be made on the next succeeding day that is not a Legal Holiday, and no
interest shall accrue for the intervening period.

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

     “LLC Agreement” means the Second Amended and Restated Limited Liability Company Agreement of
Copano Energy, L.L.C., dated as of November 15, 2004, as in effect on the date of this Indenture
and as such may be further amended, modified or supplemented from time to time.

     “Make Whole Premium” means, with respect to a Note at any time, the excess, if any, of (a) the
present value at such time of (i) the redemption price of such Note at March 1, 2011 pursuant to
Section 3.07(a) plus (ii) any required interest payments due on such Note through March 1, 2011
(except for currently accrued and unpaid interest), computed using a discount rate equal to the
Treasury Rate plus 50 basis points, discounted to the redemption date on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months), over (b) the principal amount of
such Note.

     “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business
thereof.

     “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 (but not loss), together with any related provision for taxes on such gain
(but not loss), realized in connection with: (a) any Asset Sale; or (b) the disposition of
any securities by such Person or the extinguishment of any Indebtedness of such Person; and

     (2) any extraordinary gain (but not 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:

     (1) 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,

14

 

     (2) 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,

     (3) amounts required to be applied to the repayment of Indebtedness secured by a Lien
on the properties or assets that were the subject of such Asset Sale, and

     (4) any amounts to be set aside in any reserve established in accordance with GAAP or
any amount placed in escrow, in either case for adjustment in respect of the sale price of
such properties or assets or for liabilities associated with such Asset Sale and retained by
the Company or any of its Restricted Subsidiaries until such time as such reserve is
reversed or such escrow arrangement is terminated, in which case Net Proceeds shall include
only the amount of the reserve so reversed or the amount returned to the Company or its
Restricted Subsidiaries from such escrow arrangement, as the case may be.

     “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) is 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 (other than
the Notes) 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 except
as contemplated by clause (9) of the definition of Permitted Liens.

     For purposes of determining compliance with Section 4.09, in the event that any Non-Recourse
Debt of any of the Company’s Unrestricted Subsidiaries ceases to be Non-Recourse Debt of such
Unrestricted Subsidiary, such event will be deemed to constitute an incurrence of Indebtedness by a
Restricted Subsidiary of the Company.

     “Notes” has the meaning specified in the Appendix.

     “Notes Custodian” has the meaning specified in the Appendix.

     “Obligations” means any principal, premium, if any, interest (including interest accruing on
or after the filing of any petition in bankruptcy or for reorganization, whether or not a claim for
post-filing interest is allowed in such proceeding), penalties, fees, charges, expenses,
indemnifications, reimbursement obligations, damages, guarantees, and other liabilities or amounts
payable under the documentation governing any Indebtedness or in respect thereto.

15

 

     “Offering Memorandum” means the offering memorandum of the Issuers dated January 31, 2006
relating to the offering of the Initial Notes.

     “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, any Assistant Secretary or any Vice
President of such Person.

     “Officers’ Certificate” means a certificate signed on behalf of each of the Company and
Finance Corp. by two of its Officers, one of whom must be the principal executive officer, the
principal financial officer, the treasurer or the principal accounting officer of the Company or
Finance Corp., as the case may be, that meets the requirements of Section 11.05 hereof.

     “Operating Surplus” has the meaning assigned to such term in the LLC Agreement, as in effect
on the date of this Indenture.

     “Opinion of Counsel” means an opinion from legal counsel who is reasonably acceptable to the
Trustee, that meets the requirements of Section 11.05 hereof. The counsel may be an employee of or
counsel to the Company, any Subsidiary of the Company or the Trustee.

     “Pari Passu Indebtedness” means, with respect to any Excess Proceeds from Asset Sales,
Indebtedness of an Issuer or any Guarantor that ranks equally in right of payment with the Notes or
the Subsidiary Guarantees, as the case may be, and the terms of which require the Company or any of
its Restricted Subsidiaries to apply such Excess Proceeds to offer to repurchase such Indebtedness.

     “Permitted Business” means either (1) gathering, transporting, treating, processing,
marketing, distributing, storing or otherwise handling Hydrocarbons, or activities or services
reasonably related or ancillary thereto including entering into Hedging Contracts to support these
businesses, or (2) any other business that generates gross income that constitutes “qualifying
income” under Section 7704(d) of the Code.

     “Permitted Business Investments” means Investments by the Company or any of its Restricted
Subsidiaries in any Unrestricted Subsidiary of the Company or in any Joint Venture, provided that:

     (1) either (a) at the time of such Investment and immediately thereafter, the Company
could incur $1.00 of additional Indebtedness under the Fixed Charge Coverage Ratio test set
forth in the first paragraph of Section 4.09 or (b) such Investment does not exceed the
aggregate amount of Incremental Funds (as defined in Section 4.09) not previously expended
at the time of making such Investment;

     (2) if such Unrestricted Subsidiary or Joint Venture has outstanding Indebtedness at
the time of such Investment, either (a) all such Indebtedness is Non-Recourse Debt or (b)
any such Indebtedness of such Unrestricted Subsidiary or Joint Venture that is recourse to
the Company or any of its Restricted Subsidiaries (which shall include, without limitation,
all Indebtedness of such Unrestricted Subsidiary or Joint Venture for which the Company or
any of its Restricted Subsidiaries may be directly or

16

 

indirectly, contingently or otherwise, obligated to pay, whether pursuant to the terms
of such Indebtedness, by law or pursuant to any guarantee ,including, without limitation,
any “claw-back,” “make-well” or “keep-well” arrangement) could, at the time such Investment
is made, be incurred at that time by the Company and its Restricted Subsidiaries under the
Fixed Charge Coverage Ratio test set forth in the first paragraph of Section 4.09; and

     (3) such Unrestricted Subsidiary’s or Joint Venture’s activities are not outside the
scope of the Permitted Business.

     “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 properties or 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:

          (a) an Asset Sale that was made pursuant to and in compliance with Section
4.10;

          (b) pursuant to clause (7) of the items deemed not to be Asset Sales under the
definition of “Asset Sale;”

     (5) any Investment in any Person solely in exchange for the issuance of Equity
Interests (other than Disqualified Stock) of the Company;

     (6) any Investments received in compromise of obligations of trade creditors or
customers that were incurred in the ordinary course of business, including pursuant to any
plan of reorganization or similar arrangement upon the bankruptcy or insolvency of any trade
creditor or customer, or as a result of a foreclosure by the Company or any of its
Restricted Subsidiaries with respect to any secured Investment in default;

     (7) Hedging Contracts;

     (8) Permitted Business Investments; and

17

 

     (9) 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 (9) that
are at the time outstanding, not to exceed the greater of $25.0 million or 4.0% of the
Company’s Consolidated Net Tangible Assets.

     “Permitted Liens” means:

     (1) Liens securing any Indebtedness under any of the Credit Facilities;

     (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 Restricted Subsidiary of the Company, provided
that such Liens were in existence prior to the 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 Restricted Subsidiary;

     (4) Liens on property existing at the time of acquisition of the property by the
Company or any Restricted Subsidiary of the Company, provided that such Liens were in
existence prior to the contemplation of such acquisition;

     (5) any interest or title of a lessor to the property subject to a Capital Lease
Obligation;

     (6) Liens on any property or asset acquired, constructed or improved by the Company or
any of its Restricted Subsidiaries (a “Purchase Money Lien”), which (a) are in favor of the
seller of such property or assets, in favor of the Person developing, constructing,
repairing or improving such asset or property, or in favor of the Person that provided the
funding for the acquisition, development, construction, repair or improvement cost, as the
case may be, of such asset or property, (b) are created within 360 days after the
acquisition, development, construction, repair or improvement, (c) secure the purchase price
or development, construction, repair or improvement cost, as the case may be, of such asset
or property in an amount up to 100% of the fair market value (as determined by the Board of
Directors of the Company if such fair market value is $15.0 million or more) of such
acquisition, construction or improvement of such asset or property, and (d) are limited to
the asset or property so acquired, constructed or improved (including the proceeds thereof,
accessions thereto and upgrades thereof);

     (7) Liens existing on the date of this Indenture other than Liens securing the Credit
Facilities;

     (8) Liens to secure the performance of tenders, bids, statutory obligations, surety or
appeal bonds, government contracts, performance bonds or other obligations of a like nature
incurred in the ordinary course of business;

     (9) Liens on and pledges of the Equity Interests of any Unrestricted Subsidiary or any
Joint Venture owned by the Company or any Restricted Subsidiary of

18

 

the Company to the extent securing Non-Recourse Debt or other Indebtedness of such
Unrestricted Subsidiary or Joint Venture;

     (10) Liens on pipelines or pipeline facilities that arise by operation of law;

     (11) Liens arising under operating agreements, joint venture agreements, partnership
agreements, oil and gas leases, farmout agreements, division orders, contracts for sale,
transportation or exchange of crude oil and natural gas, unitization and pooling
declarations and agreements, area of mutual interest agreements and other agreements arising
in the ordinary course of business of the Company and its Restricted Subsidiaries that are
customary in the Permitted Business;

     (12) Liens upon specific items of inventory, receivables or other goods or proceeds of
the Company or any of its Restricted Subsidiaries securing such Person’s obligations in
respect of bankers’ acceptances or receivables securitizations issued or created for the
account of such Person to facilitate the purchase, shipment or storage of such inventory,
receivables or other goods or proceeds and permitted by Section 4.09;

     (13) Liens securing Obligations of the Issuers or any Guarantor under the Notes or the
Subsidiary Guarantees, as the case may be;

     (14) Liens securing any Indebtedness equally and ratably with all Obligations due under
the Notes or any Subsidiary Guarantee pursuant to a contractual covenant that limits Liens
in a manner substantially similar to Section 4.12;

     (15) Liens to secure performance of Hedging Contracts of the Company or any of its
Restricted Subsidiaries;

     (16) Liens incurred in the ordinary course of business of the Company or any Restricted
Subsidiary of the Company, provided that, after giving effect to any such incurrence, the
aggregate principal amount of all Indebtedness then outstanding and secured by any Liens
incurred pursuant to this clause (16) does not exceed the greater of $15.0 million or 2.5%
of the Company’s Consolidated Net Tangible Assets; and

     (17) any Lien renewing, extending, refinancing or refunding a Lien permitted by clauses
(1) through (15) above, provided that (a) the principal amount of the Indebtedness secured
by such Lien is not increased and (b) no assets encumbered by any such Lien other than the
assets permitted to be encumbered immediately prior to such renewal, extension, refinance or
refund are encumbered thereby.

     After termination of the covenants referred to in the first paragraph of Section 4.19, for
purposes of complying with Section 4.12, the Liens described in clauses (1) and (16) of this
definition of “Permitted Liens” will be Permitted Liens only to the extent those Liens secure
Indebtedness not exceeding, at the time of determination, 10% of the Consolidated Net Tangible
Assets of the Company. Once effective, this 10% limitation on Permitted Liens will continue to
apply during any later period in which the Notes do not have an Investment Grade Rating by both S&P
and Moody’s.

19

 

     “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 extend,
refinance, renew, replace, defease or refund other Indebtedness of the Company or any of its
Restricted Subsidiaries (other than intercompany Indebtedness); provided that:

     (1) the principal amount of such Permitted Refinancing Indebtedness does not exceed the
principal amount of the Indebtedness being extended, refinanced, renewed, replaced, defeased
or refunded (plus all accrued interest on the Indebtedness and the amount of all expenses
and premiums incurred in connection therewith);

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

     (3) if the Indebtedness being extended, refinanced, renewed, replaced, defeased or
refunded is subordinated in right of payment to the Notes or the Subsidiary Guarantees, such
Permitted Refinancing Indebtedness is subordinated in right of payment to the Notes or the
Subsidiary Guarantees on terms at least as favorable to the Noteholders as those contained
in the documentation governing the Indebtedness being extended, refinanced, renewed,
replaced, defeased or refunded; and

     (4) such Indebtedness is not incurred by a Restricted Subsidiary of the Company if the
Company is the obligor on the Indebtedness being extended, refinanced, renewed, replaced,
defeased or refunded.

     Notwithstanding the preceding, any Indebtedness incurred under Credit Facilities pursuant to
Section 4.09 shall be subject only to the refinancing provision in the definition of Credit
Facilities and not pursuant to the requirements set forth in the definition of Permitted
Refinancing Indebtedness.

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

     “Private Exchange” has the meaning provided in the Appendix.

     “Private Exchange Notes” has the meaning provided in the Appendix.

     “Purchase Agreement” has the meaning provided in the Appendix.

     “QIB” means a “qualified institutional buyer” as defined in Rule 144A under the Securities
Act.

     “Rating Category” means:

     (1) with respect to S&P, any of the following categories: AAA, AA, A, BBB, BB, B, CCC,
CC, C and D (or equivalent successor categories); and

20

 

     (2) with respect to Moody’s, any of the following categories: Aaa, Aa, A, Baa, Ba, B,
Caa, Ca, C and D (or equivalent successor categories).

     “Rating Decline” means a decrease in the rating of the Notes by either Moody’s or S&P by one
or more gradations (including gradations within Rating Categories as well as between Rating
Categories). In determining whether the rating of the Notes has decreased by one or more
gradations, gradations within Rating Categories, namely + or – for S&P, and 1, 2, and 3 for
Moody’s, will be taken into account; for example, in the case of S&P, a rating decline either from
BB+ to BB or BB- to B+ will constitute a decrease of one gradation.

     “Registered Exchange Offer” has the meaning provided in the Appendix.

     “Registration Rights Agreement” has the meaning provided in the Appendix.

     “Regulation S” has the meaning provided in the Appendix.

     “Reporting Default” means a Default described in Section 6.01(d).

     “Responsible Officer,” when used with respect to the Trustee, means any officer within the
corporate trust department of the Trustee having direct responsibility for the administration of
this Indenture.

     “Restricted Global Note” has the meaning provided in the Appendix.

     “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. Notwithstanding anything in this Indenture to the contrary, Finance Corp.
shall be a Restricted Subsidiary of the Company.

     “Rule 144A” has the meaning provided in the Appendix.

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.,
or any successor to the rating agency business thereof.

     “Sale and Leaseback Transaction” means an arrangement relating to property owned by the
Company or a Restricted Subsidiary on the Initial Issuance Date or thereafter acquired by the
Company or a Restricted Subsidiary whereby the Company or a Restricted Subsidiary transfers such
property to a Person and the Company or a Restricted Subsidiary leases it from such Person.

     “SEC” or “Commission” means the Securities and Exchange Commission.

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

21

 

     “Senior Debt” means

     (1) all Indebtedness of the Company or any of its Restricted Subsidiaries outstanding
under Credit Facilities and all obligations under Hedging Contracts with respect thereto;

     (2) any other Indebtedness of the Company or any of its Restricted Subsidiaries
permitted to be incurred under the terms of this Indenture, unless the instrument under
which such Indebtedness is incurred expressly provides that it is on a parity with or
subordinated in right of payment to the Notes or any Subsidiary Guarantee; and

     (3) all Obligations with respect to the items listed in the preceding clauses (1) and
(2).

     Notwithstanding anything to the contrary in the preceding sentence, Senior Debt will not
include:

	 	(a)	 	any intercompany Indebtedness of the Company or any of its Restricted
Subsidiaries to the Company or any of its Affiliates; or
	 
	 	(b)	 	any Indebtedness that is incurred in violation of this Indenture.

For the avoidance of doubt, “Senior Debt” will not include any trade payables or taxes owed or
owing by the Company or any Restricted Subsidiary.

     “Shelf Registration Statement” has the meaning provided in the Appendix.

     “Significant Subsidiary” means any 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.

     “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 original documentation governing such Indebtedness, 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 (other than a partnership or
limited liability company) of which more than 50% of the total voting power of Voting Stock
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

     (2) any partnership (whether general or limited) or limited liability company (a) the
sole general partner or member of which is such Person or a Subsidiary of such

22

 

Person, or (b) if there is more than a single general partner or member, either (x) the
only managing general partners or managing members of which are such Person or one or more
Subsidiaries of such Person (or any combination thereof) or (y) such Person owns or
controls, directly or indirectly, a majority of the outstanding general partner interests,
member interests or other Voting Stock of such partnership or limited liability company,
respectively, plus in the case of both subclauses (x) and (y) of this clause (b) such Person
consolidates the financial results of such partnership or limited liability company with its
own financial results in accordance with GAAP.

     “Subsidiary Guarantees” means the joint and several guarantees issued by all of the Guarantors
pursuant to Article 10 hereof.

     “TIA” means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) and the rules and
regulations thereunder, as in effect on the date on which this Indenture is qualified under the TIA
(except as provided in Section 9.01(i) and 9.03 hereof).

     “Transfer Restricted Securities” has the meaning provided in the Appendix.

     “Treasury Rate” means the yield to maturity at the time of computation of United States
Treasury securities with a constant maturity (as compiled and published in the most recent Federal
Reserve Statistical Release H.15(519) which has become publicly available at least two Business
Days prior to the date fixed for redemption (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 March 1, 2011; provided, however, that if such period is not equal to
the constant maturity of a United States Treasury security for which a weekly average yield is
given, the Company shall obtain the Treasury Rate by linear interpolation (calculated to the
nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities
for which such yields are given, except that if the period from the redemption date to March 1,
2011 is less than one year, the weekly average yield on actually traded United States Treasury
securities adjusted to a constant maturity of one year shall be used. The Company will (a)
calculate the Treasury Rate on the second Business Day preceding the applicable redemption date and
(b) prior to such redemption date file with the Trustee an Officers’ Certificate setting forth the
Make Whole Premium and the Treasury Rate and showing the calculation of each in reasonable detail.

     “Trustee” means the party named as such above until a successor replaces it in accordance with
the applicable provisions of this Indenture and thereafter means the successor serving hereunder.

     “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to
time.

     “Unrestricted Subsidiary” means any Subsidiary of the Company (other than Finance Corp.) that
is designated by the Board of Directors of the Company as an Unrestricted Subsidiary pursuant to a
Board Resolution, but only to the extent that such Subsidiary:

23

 

     (1) except to the extent permitted by subclause (2)(b) of the definition of “Permitted
Business Investments,” has no Indebtedness other than Non-Recourse Debt owing to any Person
other than the Company or any of its Restricted Subsidiaries;

     (2) 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.

     Any designation of a Subsidiary of the Company as an Unrestricted Subsidiary will be evidenced
to the Trustee by filing with the Trustee a Board Resolution 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. 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, the Company will
be in default of such covenant.

     “Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at
the time entitled (without regard to the occurrence of any contingency) to vote in the election of
the Board of Directors of such Person.

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

     (1) the sum of the products obtained by multiplying (a) the amount of each then
remaining installment, sinking fund, serial maturity or other required payments of
principal, including payment at final maturity, in respect 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.

	 	 	 	 	 
	Term	 	Defined in Section
	 
	“Affiliate Transaction”

	 	 	4.11	 
	“Appendix”

	 	 	2.01	 

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	Term	 	Defined in Section
	 
	“Asset Sale Offer”

	 	 	3.09	 
	“Change of Control Offer”

	 	 	4.15	 
	“Change of Control Payment”

	 	 	4.15	 
	“Change of Control Purchase Date”

	 	 	4.15	 
	“Change of Control Settlement Date”

	 	 	4.15	 
	“Covenant Defeasance”

	 	 	8.03	 
	“Discharge”

	 	 	8.08	 
	“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	 
	“Payment Default”

	 	 	6.01	 
	“Permitted Debt”

	 	 	4.09	 
	“Registrar”

	 	 	2.03	 
	“Restricted Payments”

	 	 	4.07	 
	“Settlement Date”

	 	 	3.09	 
	“Termination Date”

	 	 	3.09	 

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. Any terms incorporated 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) provisions apply to successive events and transactions;

25

 

     (6) references to sections of or rules under the Securities Act or the Exchange Act
shall be deemed to include substitute, replacement or successor sections or rules adopted by
the SEC from time to time; and

     (7) “herein,” “hereof” and other words of similar import refer to this Indenture as a
whole (as amended or supplemented from time to time) and not to any particular Article,
Section or other subdivision

ARTICLE 2

THE NOTES

Section 2.01. Form and Dating.

     Provisions relating to the Initial Notes, the Private Exchange Notes and the Exchange Notes
are set forth in the Rule 144A/Regulation S Appendix attached hereto (the “Appendix”) which is
hereby incorporated in and expressly made part of this Indenture. The Initial Notes and the
Trustee’s certificate of authentication therefor shall be substantially in the form of Exhibit 1 to
the Appendix which is hereby incorporated in and expressly made a part of this Indenture. The
Exchange Notes, the Private Exchange Notes and the Trustee’s certificate of authentication therefor
shall be substantially in the form of Exhibit A to the Appendix, which is hereby incorporated in
and expressly made a part of this Indenture. The Notes may have notations, legends or endorsements
required by law, stock exchange rule, agreements to which an Issuer is subject, if any, or usage
(provided that any such notation, legend or endorsement is in a form acceptable to the Company).
Each Note shall be dated the date of its authentication. The terms of the Notes set forth in the
Appendix are part of the terms of this Indenture.

Section 2.02. Execution and Authentication.

     An Officer shall sign the Notes on behalf of each Issuer by manual or facsimile signature.

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

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

     On the Initial Issuance Date, the Trustee shall authenticate and deliver $225.0 million of
8.125% Senior Notes due 2016 and, at any time and from time to time thereafter, the Trustee shall
authenticate and deliver Notes for original issue in an aggregate principal amount specified in
such order, in each case upon a written order of the Issuers. Such order shall specify the amount
of the Notes to be authenticated, the date on which the original issue of Notes is to be
authenticated and to whom the Notes shall be registered and delivered and, in the case of an
issuance of Additional Notes pursuant to Section 2.13 after the Initial Issuance Date, shall
certify that such issuance is in compliance with Section 4.09.

     The Trustee may appoint an authenticating agent reasonably acceptable to the Issuers to
authenticate the Notes. Unless limited by the terms of such appointment, an authenticating agent

26

 

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 any Registrar, Paying Agent or agent for service of notices and demands.

Section 2.03. Registrar and Paying Agent.

     The Issuers shall maintain an office or agency where Notes may be presented for registration
of transfer or for exchange (the “Registrar”) and an office or agency in New York, New York where
Notes may be presented for payment (the “Paying Agent”). The Registrar shall keep a register of
the Notes and of their transfer and exchange. The Issuers may have 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 Issuers shall enter into an appropriate agency agreement with any Registrar or Paying
Agent not a party to this Indenture, which shall incorporate the terms of the TIA. The agreement
shall implement the provisions of this Indenture that relate to such agent. The Issuers shall
notify the Trustee of the name and address of any such agent. If the Issuers fail to maintain a
Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate
compensation therefor pursuant to Section 7.07. The Company or any Subsidiary may act as Paying
Agent or Registrar.

     The Issuers initially appoint the Trustee as Registrar and Paying Agent in connection with the
Notes at the Corporate Trust Office of the Trustee.

Section 2.04. Paying Agent to Hold Money in Trust.

     Prior to 11:00 a.m. New York City time, on each due date of the principal and interest on any
Note, an Issuer shall deposit with the Paying Agent a sum sufficient to pay such principal and
interest when so becoming due. The Issuers shall require each Paying Agent (other than the
Trustee) to agree in writing that the Paying Agent shall hold in trust for the benefit of
Noteholders or the Trustee all money held by the Paying Agent for the payment of principal of or
interest on the Notes and shall notify the Trustee of any default by the Issuers in making any such
payment. If the Company or a Subsidiary acts as Paying Agent, it shall segregate the money held by
it as Paying Agent and hold it as a separate trust fund. The Issuers at any time may require a
Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed by
the Paying Agent. Upon complying with this Section, the Paying Agent shall have no further
liability for the money delivered to the Trustee.

Section 2.05. Noteholder Lists.

     The Trustee shall preserve in as current a form as is reasonably practicable the most recent
list available to it of the names and addresses of Noteholders. If the Trustee is not the
Registrar, the Issuers shall furnish to the Trustee, in writing at least five 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
Noteholders.

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Section 2.06. Transfer and Exchange.

     The Notes shall be issued in registered form and shall be transferable only upon the surrender
of a Note for registration of transfer. When a Note is presented to the Registrar or a
co-registrar with a request to register a transfer, the Registrar shall register the transfer as
requested if the requirements of this Indenture and Section 8-401(a) of the Uniform Commercial Code
are met. When Notes are presented to the Registrar with a request to exchange them for an equal
principal amount of Notes of other denominations, the Registrar shall make the exchange as
requested if the same requirements are met. The Issuers may require payment of a sum sufficient to
cover any taxes, assessments or other governmental charges in connection with any transfer or
exchange pursuant to this Section (other than any such transfer taxes, assessments or similar
governmental charge payable upon exchange or transfer pursuant to Section 3.06, 4.10, 4.15 or
9.05).

Section 2.07. Replacement Notes.

If a mutilated Note is surrendered to the Registrar or if the Holder of a Note claims that the Note
has been lost, destroyed or wrongfully taken, the Issuers shall issue and the Trustee shall
authenticate a replacement Note if the requirements of Section 8-405 of the Uniform Commercial Code
are met and the Holder satisfies any other reasonable requirements of the Trustee. If required by
the Trustee or the Issuers, such Holder shall furnish an indemnity bond sufficient in the judgment
of the Issuers and the Trustee to protect the Issuers, the Trustee, the Paying Agent and the
Registrar from any loss which any of them may suffer if a Note is replaced. The Issuers and the
Trustee may charge the Holder for their expenses in replacing a Note. In the event any such Note
shall have matured, instead of issuing a new Note, the Trustee may pay the same without surrender
thereof upon the Holder furnishing the Issuers and the Trustee with indemnity satisfactory to them
and complying with such other reasonable regulations as the Trustee may prescribe and paying such
reasonable expenses as the Issuer and the Trustee may incur in connection therewith.

     Every replacement Note is an additional obligation of the Issuers.

Section 2.08. Outstanding Notes.

     Notes outstanding at any time are all Notes authenticated by the Trustee except for those
canceled by it, those delivered to it for cancellation and those described in this Section as not
outstanding. Except as otherwise provided in TIA §316(a), 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, it ceases to be outstanding unless the
Trustee, any provider of an indemnity bond and the Issuers receive proof satisfactory to them that
the replaced Note is held by a bona fide purchaser.

     If the Paying Agent segregates and holds in trust, in accordance with this Indenture, by 11:00
a.m. New York time, on a redemption date or other maturity date money sufficient to pay all
principal, premium, if any, interest and Additional Interest, if any, payable on that date with
respect to the Notes (or portions thereof) to be redeemed or maturing, as the case may be, then on

28

 

and after that date such Notes (or portions thereof) cease to be outstanding and interest and
Additional Interest, if any, on them cease to accrue.

Section 2.09. Temporary Notes.

     Until definitive Notes are ready for delivery, the Issuers may prepare and the Trustee shall
authenticate temporary Notes. Temporary Notes shall be substantially in the form of definitive
Notes but may have variations that the Issuers consider appropriate for temporary Notes. Without
unreasonable delay, the Issuers shall prepare and the Trustee shall authenticate definitive Notes
and deliver them in exchange for temporary Notes.

Section 2.10. Cancellation.

     An Issuer at any time may deliver Notes to the Trustee for cancellation. The Registrar and
the Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of
transfer, exchange or payment. The Trustee and no one else shall cancel (subject to the record
retention requirements of the Exchange Act) all Notes surrendered for registration of transfer,
exchange, payment or cancellation. Upon written request, the Trustee will deliver a certificate of
such cancellation to the Issuers unless the Issuers direct the Trustee to deliver canceled Notes to
the Issuers instead. The Issuers may not issue new Notes to replace Notes they have redeemed, paid
or delivered to the Trustee for cancellation.

Section 2.11. Defaulted Interest.

     If the Issuers default in a payment of interest on the Notes, the Issuers shall pay defaulted
interest (plus interest on such defaulted interest to the extent lawful) in any lawful manner. The
Issuers may pay the defaulted interest to the Persons who are Noteholders on a subsequent special
record date. The Issuers shall fix or cause to be fixed any such special record date and payment
date to the reasonable satisfaction of the Trustee and shall promptly mail to each Noteholder a
notice that states the special record date, the payment date and the amount of defaulted interest
to be paid.

Section 2.12. CUSIP Numbers.

     The Issuers in issuing the Notes may use “CUSIP” numbers and corresponding “ISINs” (if then
generally in use) and, if so, the Trustee shall use “CUSIP” numbers and corresponding “ISINs” in
notices of redemption as a convenience to Holders; provided, however, that any such notice may
state that no representation is made as to the correctness of such numbers either as printed on the
Notes or as contained in any notice of a redemption and that reliance may be placed only on the
other identification numbers printed on the Notes, and any such redemption shall not be affected by
any defect in or omission of such numbers.

Section 2.13. Issuance of Additional Notes.

     The Issuers shall be entitled, subject to their compliance with Section 4.09, to issue
Additional Notes under this Indenture which shall have identical terms as the Initial Notes issued
on the Initial Issuance Date, other than with respect to the date of issuance and issue price. The
Initial Notes issued on the Initial Issuance Date, any Additional Notes and all Exchange Notes or

29

 

Private Exchange Notes issued in exchange therefor shall be treated as a single class for all
purposes under this Indenture, including, without limitation, waivers, consents, directions,
declarations, amendments, redemptions and offers to purchase.

     With respect to any Additional Notes, the Issuers shall set forth in an Officers’ Certificate,
which shall be delivered to the Trustee, the following information:

     (1) the aggregate principal amount of such Additional Notes to be authenticated and
delivered pursuant to this Indenture;

     (2) the issue price, the issue date and the CUSIP number and any corresponding ISIN of
such Additional Notes; provided, however, that no Additional Notes may be issued at a price
that would cause such Additional Notes to have “original issue discount” within the meaning
of Section 1273 of the Code; and

     (3) whether such Additional Notes shall be Transfer Restricted Securities and issued in
the form of Initial Notes as set forth in Exhibit 1 to the Appendix to this Indenture or
shall be issued in the form of Exchange Notes as set forth in Exhibit A to the Appendix.

ARTICLE 3

REDEMPTION AND PREPAYMENT

Section 3.01. Notices to Trustee.

     If the Issuers elect to redeem Notes pursuant to the optional redemption provisions of Section
3.07 hereof, they shall furnish to the Trustee, at least five Business Days (unless a shorter
period shall be agreeable to the Trustee) before the date of giving notice of the redemption
pursuant to Section 3.03, an Officers’ Certificate setting forth (i) the clause of Section 3.07
pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the principal amount
of Notes to be redeemed, (iv) the redemption price, and (v) whether it requests the Trustee to give
notice of such redemption. Any such notice may be cancelled at any time prior to the mailing of
notice of such redemption to any Holder and shall thereby be void and of no effect.

Section 3.02. Selection of Notes to Be Redeemed.

     If less than all of the Notes are to be redeemed at any time, the Trustee shall select the
Notes to be redeemed among the Holders of the Notes as follows: (1) if the Notes are listed on any
national securities exchange, in compliance with the requirements of the principal national
securities exchange on which the Notes are listed; or (2) if the Notes are not listed on any
national securities exchange, on a pro rata basis. In the event of partial redemption other than
on a pro rata basis, the particular Notes to be redeemed shall be selected, not less than five (5)
Business Days (unless a shorter period shall be agreeable to the Trustee) prior to the giving of
notice of the redemption pursuant to Section 3.03, by the Trustee from the outstanding Notes not
previously called for redemption.

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     The Trustee shall promptly notify the Issuers in writing of the Notes selected for redemption
and, in the case of any Note selected for partial redemption, the principal amount thereof to be
redeemed. Notes and portions of Notes selected shall be in amounts of $1,000 or whole multiples of
$1,000; except that if all of the Notes of a Holder are to be redeemed, the entire outstanding
amount of Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed.
Provisions of this Indenture that apply to Notes called for redemption also apply to portions of
Notes called for redemption.

     The provisions of the two preceding paragraphs of this Section 3.02 shall not apply with
respect to any redemption affecting only a Global Note, whether such Global Note is to be redeemed
in whole or in part. In case of any such redemption in part, the unredeemed portion of the
principal amount of the Global Note shall be in an authorized denomination.

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, 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 Legal Defeasance, Covenant Defeasance
or Discharge, the Issuers shall 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.

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

     (a) the redemption date;

     (b) the redemption price or, if the redemption price is not then determinable, the
manner in which it is to be determined;

     (c) 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 a principal amount equal to the unredeemed portion shall be issued in the
name of the Holder upon cancellation of the original Note;

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

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

     (f) that, unless the Issuers default in making such redemption payment, interest and
Additional Interest, if any, on Notes called for redemption cease to accrue on and after the
redemption date and the only remaining right of the Holders of such Notes is to receive
payment of the redemption price upon surrender to the Paying Agent of the Notes redeemed;

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

31

 

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

     If any of the Notes to be redeemed is in the form of a Global Note, then the Issuers shall
modify such notice to the extent necessary to accord with the procedures of the Depository
applicable to redemption.

     At the Issuers’ request, the Trustee shall give the notice of optional redemption in the
Issuers’ names and at their expense; provided, however, that the Issuers shall have delivered to
the Trustee, as provided in Section 3.01, 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 second
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. If mailed in the manner provided for in Section 3.03,
the notice of redemption shall be conclusively presumed to have been given whether or not a Holder
receives such notice. Failure to give timely notice or any defect in the notice shall not affect
the validity of the redemption.

Section 3.05. Deposit of Redemption Price.

     Prior to 11:00 a.m., New York City time, on the redemption date, the Issuers shall deposit
with the Paying Agent (or, if the Company or a Subsidiary thereof is acting as its own Paying
Agent, segregate and hold in trust as provided in Section 2.04 hereof) money sufficient in same day
funds to pay the redemption price of and accrued interest and Additional Interest, if any, on all
Notes to be redeemed on that date. The Paying Agent shall promptly return to the Issuers any money
deposited with the Paying Agent by an Issuer in excess of the amounts necessary to pay the
redemption price of and accrued interest and Additional Interest, if any, on all Notes to be
redeemed.

     If the Issuers comply with the provisions of the preceding paragraph, on and after the
redemption date, interest and Additional Interest, if any, shall cease to accrue on the Notes or
the portions of Notes called for redemption whether or not such Notes are presented for payment,
and the only remaining right of the Holders of such Notes shall be to receive payment of the
redemption price upon surrender to the Paying Agent of the Notes redeemed. If any Note called for
redemption shall not be so paid upon surrender for redemption because of the failure of an Issuer
to comply with the preceding paragraph, interest shall be paid on the unpaid principal, from the
redemption date until such principal is paid, and to the extent lawful, on any interest and
Additional Interest, if any, not paid on such unpaid principal, in each case at the rate provided
in the Notes and in Section 4.01 hereof.

32

 

Section 3.06. Notes Redeemed in Part.

     Upon surrender of a Note that is redeemed in part, the Issuers shall issue in the name of the
Holder and the Trustee shall authenticate for the Holder at the expense of the Issuers a new Note
equal in principal amount to the unredeemed portion of the Note surrendered.

Section 3.07. Optional Redemption.

     (a) Except as set forth in clauses (b) and (c) of this Section 3.07, the Issuers shall not
have the option to redeem the Notes pursuant to this Section 3.07 prior to March 1, 2011.
On or after March 1, 2011, the Issuers shall have the option to redeem the Notes, in
whole or in part at any time, at the redemption prices (expressed as percentages of principal
amount) set forth below, plus accrued and unpaid interest and Additional Interest, if any, to the
applicable redemption date, if redeemed during the twelve-month period beginning on March 1 of the
years indicated below:

	 	 	 	 	 
	YEAR	 	PERCENTAGE
	2011
	 	 	104.0625	%
	2012
	 	 	102.7083	%
	2013
	 	 	101.3542	%
	2014 and thereafter
	 	 	100.0000	%

     (b) Notwithstanding the provisions of clause (a) of this Section 3.07, at any time prior to
March 1, 2009, the Issuers may on one or more occasions redeem up to 35% of the aggregate
principal amount of Notes (including any Additional Notes) issued under this Indenture at a
redemption price of 108.125% of the principal amount thereof, plus accrued and unpaid interest and
Additional Interest, if any, to the redemption date, with the net cash proceeds of one or more
Equity Offerings, provided that:

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

     (2) each such redemption occurs within 120 days of the date of the closing of each such
Equity Offering.

     (c) Prior to March 1, 2011, the Issuers may redeem all or part of the Notes at a redemption
price equal to the sum of:

	 	(1)	 	100% of the principal amount thereof, plus
	 
	 	(2)	 	accrued and unpaid interest, if any, to the redemption date, plus
	 
	 	(3)	 	the Make Whole Premium at the redemption date.

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

Section 3.08. Mandatory Redemption.

     Except as set forth under Sections 4.10 and 4.15 hereof, neither of the Issuers shall be
required to make mandatory redemption or sinking fund payments with respect to the Notes or to
repurchase the Notes at the option of the Holders.

Section 3.09. Offer to Purchase by Application of Excess Proceeds.

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

     The Asset Sale Offer shall remain open for a period of 20 Business Days following its
commencement and no longer, except to the extent that a longer period is required by Applicable Law
(the “Offer Period”). No later than five Business Days after the termination of the Offer Period
(the “Settlement Date”), the Company shall purchase and pay for the principal amount of Notes
required to be purchased pursuant to Section 4.10 hereof (the “Offer Amount”) or, if less than the
Offer Amount has been tendered, all Notes validly tendered in response to the Asset Sale Offer.
Payment for any Notes so purchased shall be made in the manner prescribed in the Notes.

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

     (a) 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 shall remain open, including the
time and date the Asset Sale Offer will terminate (the “Termination Date”);

     (b) the Offer Amount and the purchase price;

     (c) that any Note not tendered or accepted for payment shall continue to accrue
interest and Additional Interest, if any;

     (d) that, unless the Company defaults in making such payment, any Note accepted for
payment pursuant to the Asset Sale Offer shall cease to accrue interest and Additional
Interest, if any, after the Settlement Date;

     (e) that Holders electing to have a Note purchased pursuant to an Asset Sale Offer may
only elect to have all of such Note purchased and may not elect to have only a portion of
such Note purchased;

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     (f) that Holders electing to have a Note purchased pursuant to any Asset Sale Offer
shall be required to surrender the Note, with the form entitled “Option of Holder to Elect
Purchase” on the reverse of the Note completed, to the Company or a Paying Agent at the
address specified in the notice, before the Termination Date;

     (g) that Holders shall be entitled to withdraw their election if the Company or the
Paying Agent, as the case may be, receives, prior to the Termination Date, 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;

     (h) that, if the aggregate principal amount of Notes surrendered by Holders, and Pari
Passu Indebtedness surrendered by holders or lenders, collectively, exceeds the amount the
Company is required to repurchase, the Trustee shall select the Notes and Pari Passu
Indebtedness to be purchased on a pro rata basis on the basis of the aggregate principal
amount of tendered Notes and Pari Passu Indebtedness (with such adjustments as may be deemed
appropriate by the Trustee so that only Notes in denominations of $1,000, or integral
multiples thereof, shall be purchased); and

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

     If any of the Notes subject to an Asset Sale Offer is in the form of a Global Note, then the
Company shall modify such notice to the extent necessary to accord with the procedures of the
Depository applicable to repurchases.

     Promptly after the Termination Date, the Company shall, to the extent lawful, accept for
payment Notes or portions thereof tendered pursuant to the Asset Sale Offer in the aggregate
principal amount required by Section 4.10 hereof, and prior to the Settlement Date it shall
deliver to the Trustee an Officers’ Certificate stating that such Notes or portions thereof were
accepted for payment by the Company in accordance with the terms of this Section 3.09 and Section
4.10. Prior to 11:00 a.m., New York City time, on the Settlement Date, the Company or the Paying
Agent, as the case may be, shall 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 shall issue a new Note, and the Trustee shall authenticate and mail or deliver 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 shall publicly announce the results of the Asset Sale Offer on or
before the Settlement Date.

ARTICLE
4

COVENANTS

     Section 4.01. Payment of Notes.

     The Issuers shall pay or cause to be paid the principal of, premium, if any, interest and
Additional Interest, if any, on the Notes on the dates and in the manner provided in the Notes.

35

 

Principal, premium, if any, interest and Additional Interest, if any, shall be considered paid on
the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of
11:00 a.m., New York City time, on the due date money deposited by an Issuer or a Guarantor in
immediately available funds and designated for and sufficient to pay all principal, premium, if
any, interest and Additional Interest, if any, then due.

     The Issuers shall pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal at the rate equal to the interest rate on the Notes to the
extent lawful; and they shall pay interest (including post-petition interest in any proceeding
under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any
(without regard to any applicable grace period), at the same rate to the extent lawful.

Section 4.02. Maintenance of Office or Agency.

     The Issuers shall maintain an office or agency (which may be an office of the Trustee or an
affiliate of the Trustee) in New York, New York where Notes may be presented or surrendered for
payment and they shall maintain an office or agency (which may be an office of the Trustee or an
affiliate of the Trustee) where Notes may be surrendered for registration of transfer or for
exchange and where notices and demands to or upon the Issuers in respect of the Notes and this
Indenture may be served. The Issuers shall give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency. If at any time the Issuers
shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with
the address thereof, such presentations, surrenders, notices and demands may be made or served at
the Corporate Trust Office of the Trustee.

     The Issuers 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. Further, if at any time there shall be no such office or agency in the
City of New York where the Notes may be presented or surrendered for payment, the Issuers shall
forthwith designate and maintain such an office or agency in the City of New York, in order that
the Notes shall at all times be payable in the City of New York. The Issuers shall give prompt
written notice to the Trustee of any such designation or rescission and of any change in the
location of any such other office or agency.

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

36

 

Section 4.03. Reports.

     (a) Notwithstanding that the Company may not be subject to the reporting requirements of
Section 13 or 15(d) of the Exchange Act, so long as any Notes are outstanding, the Company will
file with the SEC (unless the SEC will not accept such a filing) for public availability within the
time periods specified in the SEC’s rules and regulations under the Exchange Act and, within five
Business Days of filing, or attempting to file, the same with the SEC, furnish to the Trustee and,
upon its prior request, to any of the Holders or Beneficial Owners of the Notes:

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

The Company shall at all times comply with TIA § 314(a).

     (b) The Company and the Guarantors shall furnish to the Holders and Beneficial Owners of the
Notes, prospective purchasers of the Notes and securities analysts, upon their request, the
information, if any, required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.

     (c) If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries, then,
to the extent material, the quarterly and annual financial information required by paragraph (a) of
this Section 4.03 shall include a reasonably detailed presentation, either on the face of the
financial statements or in the footnotes to the financial statements 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.

     (d) Delivery of reports, information and documents to the Trustee under this Section is for
informational purposes only and the Trustee’s receipt of the foregoing shall not constitute
constructive notice of any information contained therein or determinable from information contained
therein.

Section 4.04. Compliance Certificate.

     (a) The Issuers shall deliver to the Trustee, within 90 days after the end of each fiscal year
ending after December 31, 2005, an Officers’ Certificate stating that a review of the activities of
the Company and its Restricted 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

37

 

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 shall have 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 of interest on the Notes
are 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) [Reserved].

     (c) The Issuers shall, so long as any of the Notes are outstanding, deliver to the Trustee,
forthwith upon any of their respective Officers 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 shall pay, and shall 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.

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

Section 4.07. Limitation on Restricted Payments.

     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 or payable to the Company or a Restricted Subsidiary of the Company);

38

 

     (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 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 that is subordinated to the Notes or the
Subsidiary Guarantees, except a payment of interest or principal at the Stated Maturity
thereof; or

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

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

     (1) if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full
fiscal quarters for which internal financial statements are available at the time of such
Restricted Payment is not less than 1.75 to 1.0, such Restricted Payment, together with the
aggregate amount of all other Restricted Payments made by the Company and its Restricted
Subsidiaries (excluding Restricted Payments permitted by clauses (2), (3), (4) and (5) of
the next succeeding paragraph) with respect to the quarter for which such Restricted Payment
is made, is less than the sum, without duplication, of:

     (a) Available Cash from Operating Surplus with respect to the Company’s
preceding fiscal quarter, plus

     (b) 100% of the aggregate net cash proceeds received by the Company (including
the fair market value of any Permitted Business or long-term assets that are used or
useful in a Permitted Business to the extent acquired in consideration of Equity
Interests of the Company (other than Disqualified Stock)) after 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 Restricted Subsidiary of the Company), plus

     (c) to the extent that any Restricted Investment that was made after the date
of this Indenture is sold for cash or otherwise liquidated or repaid for cash, the
cash return of capital with respect to such Restricted Investment (less the cost of
disposition, if any), plus

     (d) the net reduction in Restricted Investments resulting from dividends,
repayments of loans or advances, or other transfers of assets in each case to the
Company or any of its Restricted Subsidiaries from any Person

39

 

(including, without
limitation, Unrestricted Subsidiaries) or from redesignations of Unrestricted
Subsidiaries as Restricted Subsidiaries, to the extent such amounts have not been
included in Available Cash from Operating Surplus for any period commending on or
after the date of the indenture (items (b), (c) and (d) being referred to as
“Incremental Funds”), minus

     (e) the aggregate amount of Incremental Funds previously expended pursuant to
this clause (1) and clause (2) below; or

     (2) if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full
fiscal quarters for which internal financial statements are available at the time of such
Restricted Payment is less than 1.75 to 1.00, such Restricted Payment, together with the
aggregate amount of all other Restricted Payments made by the
Company and its Restricted Subsidiaries (excluding Restricted Payments permitted by
clauses (2), (3), (4) and (5) of the next succeeding paragraph) with respect to the quarter
for which such Restricted Payment is made (such Restricted Payments for purposes of this
clause (2) meaning only distributions on common units of the Company), is less than the sum,
without duplication, of:

     (a) $45.0 million less the aggregate amount of all prior Restricted Payments
made by the Company and its Restricted Subsidiaries pursuant to this clause (2)(a)
since the date of this Indenture, plus

     (b) Incremental Funds to the extent not previously expended pursuant to this
clause (2) or clause (1) above.

     So long as no Default (except a Reporting Default) or Event of Default has occurred and is
continuing or would be caused thereby (except with respect to clause (1) below under which the
payment of a distribution or dividend is permitted), the preceding provisions will not prohibit:

     (1) the payment of any dividend or distribution within 60 days after the date of its
declaration, if at the date of declaration the payment would have complied with the
provisions of this Indenture;

     (2) the redemption, repurchase, retirement, defeasance or other acquisition of any
subordinated Indebtedness of the Company or any Guarantor or of any Equity Interests of the
Company in exchange for, or out of the net cash proceeds of the substantially concurrent (a)
contribution (other than from a Restricted Subsidiary of the Company) to the equity capital
of the Company or (b) sale (other than to a Restricted Subsidiary of the Company) of, Equity
Interests of the Company (other than Disqualified Stock), with a sale being deemed
substantially concurrent if such redemption, repurchase, retirement, defeasance or
acquisition occurs not more than 120 days after such sale; provided, however, that the
amount of any such net cash proceeds that are utilized for any such redemption, repurchase,
retirement, defeasance or other acquisition will be excluded or deducted from the
calculation of Available Cash from Operating Surplus and Incremental Funds;

40

 

     (3) the defeasance, redemption, repurchase, retirement or other acquisition of
subordinated Indebtedness of the Company or any Guarantor with the net cash proceeds from an
incurrence of, or in exchange for, Permitted Refinancing Indebtedness;

     (4) the payment of any dividend or distribution by a Restricted Subsidiary of the
Company to the holders of its Equity Interests on a pro rata basis; or

     (5) the repurchase, redemption or other acquisition or retirement for value of any
Equity Interests of the Company or any Restricted Subsidiary of the Company pursuant to any
director or employee equity subscription agreement or equity option agreement or other
employee benefit plan or to satisfy obligations under any Equity Interests appreciation
rights or option plan or similar arrangement; provided, however, that the aggregate price
paid for all such repurchased, redeemed, acquired or retired
Equity Interests may not exceed $2.0 million in any calendar year, with any portion of
such $2.0 million amount that is unused in any calendar year to be carried forward to
successive calendar years and added to such amount.

     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 this
covenant will be determined, in the case of amounts under $10.0 million, by an officer of the
Company and, in the case of amounts over $10.0 million, by the Board of Directors of the Company,
whose determination shall be evidenced by a Board Resolution. Not later than the date of making
any Restricted Payment (excluding any Restricted Payment described in the preceding clause (2),
(3), (4) or (5)) the Company will deliver to the Trustee an Officers’ Certificate stating that such
Restricted Payment is permitted and setting forth the basis upon which the calculations required by
this Section 4.07 were computed. For purposes of determining compliance with this Section 4.07, in
the event that a Restricted Payment meets the criteria of more than one of the categories of
Restricted Payments described in the preceding clauses (1) — (5), the Company will be permitted to
classify (or later classify or reclassify in whole or in part in its sole discretion) such
Restricted Payment in any manner that complies with this Section 4.07.

Section 4.08. Limitation on Dividend and Other Payment Restrictions Affecting Subsidiaries.

     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 pay any Indebtedness or other obligations owed to
the Company or any of its Restricted Subsidiaries;

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

41

 

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

     However, the preceding restrictions of this Section 4.08 will not apply to encumbrances or
restrictions existing under or by reason of:

     (1) agreements as in effect on the date of this Indenture and any amendments,
modifications, restatements, renewals, increases, supplements, refundings, replacements or
refinancings of those agreements or the Indebtedness to which they relate, provided that the
amendments, modifications, restatements, renewals, increases, supplements, refundings,
replacement or refinancings are no more restrictive, taken as a whole, with
respect to such dividend, distribution and other payment restrictions than those
contained in those agreements on the date of this Indenture;

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

     (3) Applicable Law;

     (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,
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 otherwise
permitted by the terms of this Indenture to be incurred;

     (5) customary non-assignment provisions in Hydrocarbon purchase and sale or exchange
agreements or similar operational agreements or in licenses or leases, in each case entered
into in the ordinary course of business and consistent with past practices;

     (6) Capital Lease Obligations, mortgage financings or purchase money obligations, in
each case for property acquired in the ordinary course of business that impose restrictions
on that property of the nature described in clause (3) of the preceding paragraph;

     (7) any agreement for the sale or other disposition of a Restricted Subsidiary of the
Company that restricts distributions by that Restricted Subsidiary pending its sale or other
disposition;

     (8) Permitted Refinancing Indebtedness, provided that the restrictions contained in the
agreements governing such Permitted Refinancing Indebtedness are not materially more
restrictive, taken as a whole, than those contained in the agreements governing the
Indebtedness being refinanced;

     (9) Liens securing Indebtedness otherwise permitted to be incurred under the provisions
of Section 4.12 that limit the right of the debtor to dispose of the assets subject to such
Liens;

42

 

     (10) provisions with respect to the disposition or distribution of assets or property
in joint venture agreements, asset sale agreements, stock sale agreements and other similar
agreements entered into in the ordinary course of business;

     (11) any agreement or instrument relating to any property or assets acquired after the
date of this Indenture, so long as such encumbrance or restriction relates only to the
property or assets so acquired and is not and was not created in anticipation of such
acquisitions;

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

     (13) any instrument governing Indebtedness of an FERC Subsidiary, provided that such
Indebtedness was otherwise permitted by the terms of this Indenture to be incurred.

Section 4.09. Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock.

     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), the Company will not issue any Disqualified Stock, and the Company will
not permit any of its or its Restricted Subsidiaries Restricted Subsidiaries to issue any preferred
securities; provided, however, that the Company and any of its Restricted Subsidiaries may incur
Indebtedness (including Acquired Debt) or issue Disqualified 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 is issued 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 Disqualified Stock had been issued, as the case may
be, at the beginning of such four-quarter period.

     The first paragraph of this Section 4.09 will not prohibit the incurrence of any of the
following items of Indebtedness (collectively, “Permitted Debt”) or the issuance of any preferred
securities described in clause (11) below:

     (1) the incurrence by the Company or any of its Restricted Subsidiaries of additional
Indebtedness (including letters of credit) under one or more Credit Facilities, provided
that, after giving effect to any such incurrence, the aggregate principal amount of all
Indebtedness incurred 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
Subsidiaries thereunder) and then outstanding does not exceed the greater of (a) $400.0
million or (b) $300.0 million plus 15% of the Company’s Consolidated Net Tangible Assets;

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

43

 

     (3) the incurrence by the Company and the Guarantors of Indebtedness represented by (a)
the Notes issued and sold on the Initial Issuance Date and the related Subsidiary Guarantees
issued on the date of this Indenture and (b) the Exchange Notes and the related Subsidiary
Guarantees issued pursuant to any Registration Rights Agreement;

     (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 construction or improvement of property, plant or equipment
used in the business of the Company or such Restricted Subsidiary, including all
Permitted Refinancing Indebtedness incurred to extend, refinance, renew, replace, defease or
refund any Indebtedness incurred pursuant to this clause (4), provided that after giving
effect to any such incurrence, the principal amount of all Indebtedness incurred pursuant to
this clause (4) and then outstanding does not exceed the greater of (a) $15.0 million or (b)
2.5% of the Company’s Consolidated Net Tangible Assets at such time;

     (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 extend,
refinance, renew, replace, defease or refund Indebtedness that was permitted by this
Indenture to be incurred under the first paragraph of this Section 4.09 or clause (2) or (3)
of this paragraph or this clause (5);

     (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 is the obligor on such Indebtedness and a Guarantor is not
the obligee, such Indebtedness must be expressly subordinated to the prior payment
in full in cash of all Obligations with respect to the Notes, or if a Guarantor is
the obligor on such Indebtedness and neither the Company nor another Guarantor is
the obligee, such Indebtedness must be expressly subordinated to the prior payment
in full in cash of all Obligations with respect to the Subsidiary Guarantee of such
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 neither the Company nor 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 incurrence by the Company or any of its Restricted Subsidiaries of Hedging
Contracts;

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     (8) the guarantee by the Company or any of its Restricted Subsidiaries of Indebtedness
of the Company or any of its Restricted Subsidiaries that was permitted to be incurred by
another provision of this Section 4.09;

     (9) the incurrence by the Company or any of its Restricted Subsidiaries of obligations
relating to net gas balancing positions arising in the ordinary course of business and
consistent with past practice;

     (10) the incurrence by the Company or any of its Restricted Subsidiaries of
Indebtedness in respect of bid, performance, surety and similar bonds issued for the account
of the Company and any of its Restricted Subsidiaries in the ordinary course of
business, including guarantees and obligations of the Company or any of its Restricted
Subsidiaries with respect to letters of credit supporting such obligations (in each case
other than an obligation for money borrowed);

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

     (a) any subsequent issuance or transfer of Equity Interests that results in any
such preferred securities 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 securities to a Person
that is not either the Company or a Restricted Subsidiary of the Company

shall be deemed, in each case, to constitute an issuance of such preferred securities by
such Restricted Subsidiary that was not permitted by this clause (11); and

     (12) the incurrence by the Company or any of its Restricted Subsidiaries of liability
in respect of the Indebtedness of any Unrestricted Subsidiary of the Company or any Joint
Venture but only to the extent that such liability is the result of the Company’s or any
such Restricted Subsidiary’s being a general partner of such Unrestricted Subsidiary or
Joint Venture and not as guarantor of such Indebtedness and provided that, after giving
effect to any such incurrence, the aggregate principal amount of all Indebtedness incurred
under this clause (12) and then outstanding does not exceed $25.0 million;

     (13) the incurrence by the Company or any of its Restricted Subsidiaries of Acquired
Debt in connection with a merger or consolidation meeting either one of the financial tests
set forth in clause (d) of Section 5.01; and

     (14) the incurrence by the Company or any of its Restricted Subsidiaries of additional
Indebtedness, provided that, after giving effect to any such incurrence, the aggregate
principal amount of all Indebtedness incurred under this clause (14) and then outstanding
does not exceed the greater of (a) $25.0 million or (b) 4.0% of the Company’s Consolidated
Net Tangible Assets.

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     For purposes of determining compliance with this Section 4.09, in the event that an item of
Indebtedness (including Acquired Debt) meets the criteria of more than one of the categories of
Permitted Debt described in clauses (1) through (14) above, or is entitled to be incurred pursuant
to the first paragraph of this Section 4.09, the Company will be permitted to classify (or later
classify or reclassify in whole or in part in its sole discretion) such item of Indebtedness in any
manner that complies with this covenant. Any Indebtedness under Credit Facilities on the date of
this Indenture shall be considered incurred under the first paragraph of this Section 4.09.

     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, 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, provided, in each such case, that
the amount thereof is included in Fixed Charges of the Company as accrued.

Section 4.10. Limitation on 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 of the
assets or Equity Interests issued or sold or otherwise disposed of;

     (2) the fair market value is determined by (a) an executive officer of the Company if
the value is less than $10.0 million and evidenced by an Officers’ Certificate delivered to
the Trustee, or (b) the Company’s Board of Directors if the value is $10.0 million or more
and evidenced by a resolution of the Board of Directors set forth in an Officers’
Certificate delivered to the Trustee; and

     (3) at least 75% of the aggregate consideration received by the Company and its
Restricted Subsidiaries in the Asset Sale and all other Asset Sales since the date of this
Indenture is in the form of cash. For purposes of this provision, each of the following
will be deemed to be cash:

     (a) any liabilities, as shown on the Company’s or such Restricted Subsidiary’s
most recent balance sheet, of the Company or any Subsidiary (other than contingent
liabilities and liabilities that are by their terms subordinated to the Notes or any
Subsidiary Guarantee) that are assumed by the transferee of any such assets pursuant
to a customary novation agreement that releases the Company or such Subsidiary from
further liability; and

     (b) any securities, notes or other obligations received by the Company or any
such Restricted Subsidiary from such transferee that are, within 90 days after the
Asset Sale, converted by the Company or such Subsidiary into cash, to the extent of
the cash received in that conversion.

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     Within 360 days after the receipt of any Net Proceeds from an Asset Sale, the Company or any
such Restricted Subsidiary may apply those Net Proceeds at its option to any combination of the
following:

     (I) to repay Senior Debt;

     (II) to acquire all or substantially all of the properties or assets of a Person primarily
engaged in a Permitted Business;

     (III) to acquire a majority of the Voting Stock of a Person primarily engaged a Permitted
Business;

     (IV) to make capital expenditures; or

     (V) to acquire other long-term assets that are used or useful in a Permitted Business.

     Pending the final application of any Net Proceeds, the Company or any such Restricted
Subsidiary may 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 preceding
paragraph will constitute “Excess Proceeds.”

     On the 361st day after the Asset Sale (or, at the Company’s option, any earlier date), if the
aggregate amount of Excess Proceeds then exceeds $20.0 million, the Company will make an Asset Sale
Offer to all Holders of Notes, and to all holders of Pari Passu Indebtedness then outstanding, to
purchase the maximum principal amount of Notes and such Pari Passu Indebtedness that may be
purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer will be equal to
100% of principal amount plus accrued and unpaid interest, if any, to the Settlement Date, subject
to the right of Holders of record on the relevant record date to receive interest due on an
interest payment date that is on or prior to the Settlement 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 Pari Passu Indebtedness tendered into such Asset Sale Offer exceeds
the amount of Excess Proceeds, the Trustee will select the Notes and such Pari Passu Indebtedness
to be purchased on a pro rata basis. Upon completion of each Asset Sale Offer, the amount of
Excess Proceeds will be reset at zero.

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

Section 4.11. Limitation on Transactions with Affiliates.

     The Company will not, and will not permit any of its Restricted Subsidiaries to, make any
payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or

47

 

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
(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 an unrelated Person; 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 and that such Affiliate Transaction has been approved by a majority of the
disinterested members of the Board of Directors; and

     (b) with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate consideration in excess of $25.0 million, a written
opinion as to the fairness to the Holders of such Affiliate Transaction from a
financial point of view issued by an accounting, appraisal or investment banking
firm of national standing.

     The following items will not be deemed to be Affiliate Transactions and, therefore, will not
be subject to the provisions of the prior paragraph of this Section 4.11:

     (1) any employment equity award, equity option or equity appreciation agreement or plan
entered into by the Company or any of its Restricted Subsidiaries in the ordinary course of
business;

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

     (3) transactions with a Person that is an Affiliate of the Company solely because the
Company owns an Equity Interest in such Person;

     (4) customary compensation, indemnification and other benefits made available to
officers, directors or employees of the Company or a Restricted Subsidiary or Affiliate of
the Company, including reimbursement or advancement of out-of-pocket expenses and provisions
of officers’ and directors’ liability insurance;

     (5) sales of Equity Interests (other than Disqualified Stock) to Affiliates of the
Company;

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

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     (7) transactions effected in accordance with the terms of the Administrative and
Operating Services Agreement that are described under the caption “Certain Relationships and
Related Transactions — Copano/Operations, Inc.” in the Offering Memorandum, as such
agreement is in effect on the date of this Indenture, and any amendment or extension of such
agreement so long as such amendment or extension agreement is no less advantageous to the
Company in any material respect than the agreement so amended or extended;

     (8) the purchase by the Company or any of its Restricted Subsidiaries of natural gas
from John R. Eckel, Jr., or any of his Affiliates and any related transactions,
or the gathering or compressing of any natural gas by the Company or any of its
Restricted Subsidiaries for the account of John R. Eckel, Jr. or any of his Affiliates and
any related transactions, in each case in the ordinary course of business;

     (9) the guarantee by ScissorTail Energy LLC of the performance by Southern Dome, LLC of
its obligations under the Gas Purchase and Processing Agreement effective as of May 1, 2005
between Southern Dome, LLC and New Dominion, L.L.C., as such agreement is in effect on the
date of this Indenture, and any amendment or extension of such agreement so long as such
amendment or extension agreement is no less advantageous to the Company in any material
respect than the agreement so amended or extended;

     (10) transactions effected in accordance with the terms of the Management Agreement
dated as of August 1, 2005 between Southern Dome, LLC and ScissorTail Energy LLC, as such
agreement is in effect on the date of this Indenture, and any amendment or extension of such
agreement so long as such amendment or extension agreement is no less advantageous to the
Company in any material respect than the agreement so amended or extended; and

     (11) the transportation of natural gas across the gathering systems of Webb/Duval
Gatherers and its Subsidiaries in the ordinary course of business and consistent with past
practices.

Section 4.12. Limitation on Liens.

     The Company will not and will not permit any of its Restricted Subsidiaries to, create, incur,
assume or otherwise cause or suffer to exist or become effective any Lien of any kind (other than
Permitted Liens) securing Indebtedness or Attributable Debt upon any of their property or assets,
now owned or hereafter acquired, unless the Notes or any Subsidiary Guarantee of such Restricted
Subsidiary, as applicable, is secured on an equal and ratable basis (or on a senior basis to, in
the case of obligations subordinated in right of payment to the Notes or such Subsidiary Guarantee,
as the case may be) with the obligations so secured until such time as such obligations are no
longer secured by a Lien.

Section 4.13. Additional Subsidiary Guarantees.

     If, after the date of this Indenture, any Restricted Subsidiary of the Company that is not
already a Guarantor guarantees any other Indebtedness of either of the Issuers or any

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Indebtedness
of any Guarantor, or any Domestic Subsidiary, if not then a Guarantor, incurs any Indebtedness
under any of the Credit Facilities, then in either case that Subsidiary will become a Guarantor by
executing a supplemental indenture substantially in the form of Annex A hereto and delivering it to
the Trustee within twenty Business Days of the date on which it guaranteed or incurred such
Indebtedness, as the case may be, together with any Officers’ Certificate or Opinion of Counsel
required by Section 9.06; provided, however, that the preceding shall not
apply to Subsidiaries of the Company that have properly been designated as Unrestricted
Subsidiaries in accordance with this Indenture for so long as they continue to constitute
Unrestricted Subsidiaries. Notwithstanding the preceding, any Subsidiary Guarantee of a Restricted
Subsidiary that was incurred pursuant to this Section 4.13 as a result of its guarantee of any
Indebtedness shall provide by its terms that it shall be automatically and unconditionally released
upon the release or discharge of the guarantee that resulted in the creation of such Restricted
Subsidiary’s Subsidiary Guarantee, except a discharge or release by, or as a result of payment
under, such guarantee.

Section 4.14. Corporate Existence.

     Except as otherwise permitted pursuant to the terms hereof (including consolidation and merger
permitted by Section 5.01), the Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect its corporate existence, and the corporate, partnership
or other existence of each of its Restricted Subsidiaries, in accordance with the respective
organizational documents (as the same may be amended from time to time) of the Company or any such
Restricted Subsidiary; provided, however, that the Company shall not be required to preserve the
existence of any of its Restricted Subsidiaries (except Finance Corp.) if the Company shall
determine that the preservation thereof is no longer desirable in the conduct of the business of
the Company and its Restricted 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.

     (1) Within 30 days following the occurrence of a Change of Control, the Company shall
make an offer (a “Change of Control Offer”) to repurchase all or any part (equal to $1,000
or an integral multiple thereof) of each Holder’s Notes at a purchase price (the “Change of
Control Payment”) in cash equal to 101% of the aggregate principal amount of Notes
repurchased, plus accrued and unpaid interest and Additional Interest, if any, thereon to
the date of settlement (the “Change of Control Settlement Date”), subject to the right of
Holders of record on the relevant record date to receive interest due on an interest payment
date that is on or prior to the Change of Control Settlement Date. Within 30 days following
a Change of Control, the Company shall mail a notice of the Change of Control Offer to each
Holder and the Trustee describing the transaction that constitutes the Change of Control and
stating:

     (a) that the Change of Control Offer is being made pursuant to this Section
4.15 and that all Notes validly tendered and not withdrawn will be accepted for
payment;

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     (b) the purchase price and the purchase date, which shall be no earlier than 30
days but no later than 60 days from the date such notice is mailed (the “Change of
Control Purchase Date”);

     (c) that the Change of Control Offer will expire as of the time specified in
such notice on the Change of Control Purchase Date and that the Company shall pay
the Change of Control Purchase Price for all Notes purchased as of the Change of
Control Purchase Date promptly thereafter on the Change of Control Settlement Date;

     (d) that any Note not tendered will continue to accrue interest and Additional
Interest, if any;

     (e) that, unless the Company defaults in the payment of the Change of Control
Payment, all Notes accepted for payment pursuant to the Change of Control Offer
shall cease to accrue interest and Additional Interest, if any, after the Change of
Control Settlement Date;

     (f) that Holders electing to have any Notes purchased pursuant to a Change of
Control Offer will be required to surrender the Notes, properly endorsed for
transfer, together with the form entitled “Option of Holder to Elect Purchase” on
the reverse of the Notes completed and such customary documents as the Company may
reasonably request, to the Paying Agent at the address specified in the notice prior
to the termination of the Change of Control Offer on the Change of Control Purchase
Date;

     (g) that Holders will be entitled to withdraw their election if the Paying
Agent receives, prior to the termination of the Change of Control Offer, a telegram,
facsimile transmission or letter setting forth the name of the Holder, the principal
amount of Notes delivered for purchase, and a statement that such Holder is
withdrawing its election to have the Notes purchased; and

     (h) that Holders whose Notes are being purchased only in part will be issued
new Notes equal in principal amount to the unpurchased portion of the Notes
surrendered, which unpurchased portion must be equal to $1,000 in principal amount
or an integral multiple thereof.

If any of the Notes subject to a Change of Control Offer is in the form of a Global Note,
then the Company shall modify such notice to the extent necessary to accord with the
procedures of the Depository applicable to repurchases. Further, the Company shall comply
with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder to the extent such laws and regulations are applicable in connection
with the repurchase of Notes as a result of a Change of Control. To the extent that the
provisions of any securities laws or regulations conflict with the provisions of this
Section 4.15, the Company will comply with the applicable securities laws and regulations
and will not be deemed to have breached its obligations under such provisions by virtue of
such conflict.

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     (2) On the Change of Control Purchase Date, the Company shall, to the extent lawful,
accept for payment all Notes or portions thereof (in integral multiples of $1,000)
properly tendered pursuant to the Change of Control Offer. Promptly thereafter on the
Change of Control Settlement Date the Company shall:

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

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

On the Change of Control Settlement Date, the Paying Agent shall mail to each Holder of
Notes properly tendered the Change of Control Payment for such Notes (or, if all the Notes
are then in global form, make such payment through the facilities of the Depository) and the
Trustee shall authenticate and mail (or cause to be transferred by book entry) to each
Holder a new Note equal in principal amount to any unpurchased portion of the Notes
surrendered, if any; provided, however, that each such new Note will be in a principal
amount of $1,000 or an integral multiple of $1,000. The Company shall publicly announce the
results of the Change of Control Offer on or as soon as practicable after the Change of
Control Purchase Date.

     (3) The Change of Control provisions described above shall be applicable whether or nor
any other provisions of this Indenture are applicable.

     (4) Prior to complying with any of the provisions of this Section 4.15, but in any
event no later than the Change of Control Purchase Date, the Company or any Guarantor must
either repay all of its other outstanding Senior Debt or obtain the requisite consents, if
any, under all agreements governing such Senior Debt to permit the repurchase of Notes
required by this Section 4.15.

     (5) The Company shall not be required to make a Change of Control Offer following a
Change of Control if a third party makes the Change of Control Offer in the manner, at the
time and otherwise in compliance with the requirements set forth in this Indenture
applicable to a Change of Control Offer made by the Company and purchases all Notes properly
tendered and not withdrawn under such Change of Control Offer.

Section 4.16. No Inducements.

     The Company shall not, and the Company shall not permit any of its Subsidiaries, either
directly or indirectly, to pay (or cause to be paid) any consideration, whether by way of interest,
fee or otherwise, to any Beneficial Owner or Holder of the Notes for or as an inducement to any
consent to any waiver, amendment or supplement of any terms or provisions of this Indenture or the
Notes, unless such consideration is offered to be paid (or agreed to be paid) to all Beneficial
Owners and Holders of the Notes which so consent in the time frame set forth in the solicitation
documents relating to such consent.

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Section 4.17. Permitted Business Activities.

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

     Finance Corp. shall not incur Indebtedness unless (1) the Company is a co-obligor or guarantor
of such Indebtedness or (2) the net proceeds of such Indebtedness are loaned to the Company, used
to acquire outstanding debt securities issued by the Company or used to repay Indebtedness of the
Company as permitted under Section 4.09. Finance Corp. shall not engage in any business not
related directly or indirectly to obtaining money or arranging financing for the Company or its
Restricted Subsidiaries.

Section 4.18. 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, however, that the Company or any of its Restricted
Subsidiaries may enter into a Sale and Leaseback Transaction if:

     (1) the Company or that Restricted Subsidiary, 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 the first paragraph of Section
4.09 and (b) incurred a Lien to secure such Indebtedness pursuant to Section 4.12;

     (2) the gross cash proceeds of that Sale and Leaseback Transaction are at least equal
to the fair market value, as determined in good faith by the Board of Directors of the
Company and set forth in an Officers’ Certificate delivered to the Trustee, 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.

Section 4.19. Covenant Termination.

     If at any time (a) the rating assigned to the Notes by both S&P and Moody’s is an Investment
Grade Rating and (b) no Default has occurred and is continuing under this Indenture, the Company
and its Restricted Subsidiaries will no longer be subject to the provisions of Sections 3.09, 4.07,
4.08, 4.09, 4.10, 4.11, 4.17, clauses (1)(a) and (3) of Section 4.18, and clause (d) of Section
5.01 of this Indenture. However, the Company and its Restricted Subsidiaries will remain subject
to all of the other provisions of this Indenture.

Section 4.20. Designation of Restricted and Unrestricted Subsidiaries.

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

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fair market value of all outstanding Investments owned by the Company and its Restricted
Subsidiaries in the Subsidiary properly designated 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 the
first paragraph of Section 4.07 or represent Permitted Investments, as determined by the Company.
That designation shall only be permitted if the Investment would be permitted at that time and if
the Subsidiary so designated otherwise meets the definition of an Unrestricted Subsidiary.

     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, 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 be in existence following such designation.

ARTICLE
5

SUCCESSORS

Section 5.01. Merger, Consolidation, or Sale of Assets.

     Neither of the Issuers may, directly or indirectly, (1) consolidate or merge with or into
another Person (whether or not such Issuer is the survivor), or (2) sell, assign, transfer, lease,
convey or otherwise dispose of all or substantially all of its properties or assets in one or more
related transactions to another Person, unless:

     (a) either (1) such Issuer is the survivor or (2) the Person formed by or surviving any
such consolidation or merger (if other than such Issuer ) or to which such sale, assignment,
transfer, lease, conveyance or other disposition shall have been made is a Person organized
or existing under the laws of the United States, any state of the United States or the
District of Columbia; provided, however, that Finance Corp. may not consolidate or merge
with or into any Person other than a corporation satisfying such requirement so long as the
Company is not a corporation;

     (b) the Person formed by or surviving any such consolidation or merger (if other than
such Issuer) or the Person to which such sale, assignment, transfer, lease, conveyance or
other disposition shall have been made assumes all the obligations of such Issuer under the
Notes, this Indenture and the applicable Registration Rights Agreement pursuant to a
supplemental indenture or other agreement in a form reasonably satisfactory to the Trustee;

     (c) immediately after such transaction no Default or Event of Default exists;

     (d) in the case of a transaction involving the Company and not Finance Corp., either;

     (i) the Company or the Person formed by or surviving any such consolidation or
merger (if other than the Company), or to which such sale,

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assignment, transfer, lease, conveyance or other disposition shall have
been made will, at the time of such transaction and after giving pro forma effect
thereto and any related financing transaction as if the same had occurred at the
beginning of the applicable four-quarter period, be permitted to incur at least
$1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test
set forth in the first paragraph of Section 4.09 hereof; or

     (ii) immediately after giving effect to such transaction on a pro forma basis
and any related financing transactions as if the same had occurred at the beginning
of the Company’s most recently ended four full quarters for which internal financial
statements are available immediately preceding the date of the transactions, the
Fixed Charge Coverage Ratio of 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, lease, conveyance or other disposition has been made will be
equal to or greater than the Fixed Charge Coverage Ratio of the Company immediately
before such transactions; and

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

     Notwithstanding the preceding paragraph of this Section 5.01, the Company may reorganize as
any other form of entity in accordance with the following procedures provided that:

     (1) the reorganization involves the conversion (by merger, sale, contribution or
exchange of assets or otherwise) of the Company into a form of entity other than a limited
liability company formed under Delaware law;

     (2) the entity so formed by or resulting from such reorganization is an entity
organized or existing under the laws of the United States, any state thereof or the District
of Columbia;

     (3) the entity so formed by or resulting from such reorganization assumes all the
obligations of the Company under the Notes, the Indenture and the applicable Registration
Rights Agreement pursuant to agreements reasonably satisfactory to the Trustee;

     (4) immediately after such reorganization no Default or Event of Default exists; and

     (5) such reorganization is not materially adverse to the Holders or Beneficial Owners
of the Notes (for purposes of this clause (5) a reorganization will not be considered
materially adverse to the Holders or Beneficial Owners of the Notes solely because the
successor or survivor of such reorganization (a) is subject to federal or state income
taxation as an entity or (b) is considered to be an “includable corporation” of an
affiliated group of corporations with the meaning of Section 1504(b)(i) of the Code or any
similar state or local law).

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Section 5.02. Successor 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 an Issuer in
accordance with Section 5.01 hereof, the successor formed by such consolidation or into or with
which such Issuer is merged or to which such sale, assignment, transfer, lease, conveyance or other
disposition is made shall succeed to, and may exercise every right and power of, such Issuer under
this Indenture with the same effect as if such successor had been named as such Issuer herein and
shall be substituted for such Issuer (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” or “Finance Corp.,” as the case may be, shall refer instead to
the successor and not to the Company or Finance Corp., as the case may be); and thereafter, if an
Issuer is dissolved following a transfer of all or substantially all of its properties or assets in
accordance with this Indenture, it shall be discharged and released from all obligations and
covenants under this Indenture and the Notes. The Trustee shall enter into a supplemental
indenture to evidence the succession and substitution of such successor and such discharge and
release of such Issuer.

ARTICLE 6

DEFAULTS AND REMEDIES

Section 6.01. Events of Default.

     An “Event of Default” occurs if one of the following shall have occurred and be continuing
(whatever the reason for such Event of Default and whether it shall be involuntary or be effected
by operation of law):

     (a) an Issuer defaults in the payment when due of interest or Additional Interest, if
any, with respect to, the Notes, and such default continues for a period of 30 days;

     (b) an Issuer defaults in the payment of the principal of or premium, if any, on the
Notes when due at its Stated Maturity, upon optional redemption, upon required repurchase,
upon declaration or otherwise;

     (c) the Company fails to comply with the provisions of Section 3.09, 4.10, 4.15 or 5.01
hereof;

     (d) the Company fails to comply with the provisions of Section 4.03 for 90 days after
notice to the Company by the Trustee or the Holders of at least 25% in principal amount of
the Notes then outstanding of such failure;

     (e) the Company fails to comply with any other covenant or other agreement in this
Indenture or the Notes for 60 days after notice to the Company by the Trustee or the Holders
of at least 25% in principal amount of the Notes then outstanding of such failure;

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     (f) a default occurs 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 Initial Issuance Date, if such default:

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

     (2) results in the acceleration of such Indebtedness prior to its Stated
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 $20.0 million or more;
provided, however, that if any such default is cured or waived or any such acceleration
rescinded, or such Indebtedness is repaid, within a period of 60 days from the continuation
of such default beyond the applicable grace period or the occurrence of such acceleration,
as the case may be, such Event of Default and any consequential acceleration of the Notes
shall be automatically rescinded, so long as such rescission does not conflict with any
judgment or decree;

     (g) the Company or any of its Restricted Subsidiaries fails to pay final judgments
aggregating in excess of $20.0 million, which judgments are not paid, discharged or stayed
for a period of 60 days;

     (h) except as permitted by this Indenture, any Subsidiary 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 Subsidiary Guarantee; and

     (i) the Company, Finance Corp., any of the Company’s Restricted Subsidiaries that is a
Significant Subsidiary of the Company or any group of Restricted Subsidiaries of the Company
that, taken together, would constitute a Significant Subsidiary of the Company pursuant to
or within the meaning of Bankruptcy Law:

     (1) commences a voluntary case,

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

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

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

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     (5) admits in writing it generally is not paying its debts as they become due;
or

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

     (1) is for relief against the Company, Finance Corp., any of the Company’s
Restricted Subsidiaries that is a Significant Subsidiary of the Company or any group
of Restricted Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary of the Company in an involuntary case;

     (2) appoints a Custodian of the Company, Finance Corp., any of the Company’s
Restricted Subsidiaries that is a Significant Subsidiary of the Company or any group
of Restricted Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary of the Company or for all or substantially all of the
property of the Company, Finance Corp., any of the Company’s Restricted Subsidiaries
that is a Significant Subsidiary of the Company or any group of Restricted
Subsidiaries of the Company, that, taken together, would constitute a Significant
Subsidiary of the Company; or

     (3) orders the liquidation of the Company, Finance Corp., any of the Company’s
Restricted Subsidiaries that is a Significant Subsidiary of the Company or any group
of Restricted Subsidiaries of the Company that, taken together, would constitute a
Significant Subsidiary of the Company;

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

Section 6.02. Acceleration.

     If any Event of Default occurs and is continuing, the Trustee, by notice to the Issuers, or
the Holders of at least 25% in principal amount of the then outstanding Notes, by notice to the
Issuers and the Trustee, may declare all the Notes to be due and payable immediately. Upon any
such declaration, the Notes shall become due and payable immediately, together with all accrued and
unpaid interest, Additional Interest, if any, and premium, if any, thereon. Notwithstanding the
preceding, if an Event of Default specified in clause (i) or (j) of Section 6.01 hereof occurs with
respect to the Company, Finance Corp., any of the Company’s Restricted Subsidiaries that is a
Significant Subsidiary of the Company or any group of Restricted Subsidiaries of the Company that,
taken together, would constitute a Significant Subsidiary of the Company, all outstanding Notes
shall become due and payable without further action or notice, together with all accrued and unpaid
interest, Additional Interest, if any, and premium, if any, thereon. The Holders of a majority in
principal amount of the then outstanding Notes by notice to the Trustee may on behalf of all of the
Holders rescind an acceleration and its consequences if the rescission would not conflict with any
judgment or decree and if all existing Events of Default (except with respect to nonpayment of
principal, interest, premium or Additional Interest, if any, that have become due solely because of
the acceleration) have been cured or waived.

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     If an Event of Default occurs by reason of any willful action (or inaction) taken (or not
taken) by or on behalf of an Issuer with the intention of avoiding payment of the premium that the
Issuers would have had to pay if the Issuers then had elected to redeem the Notes pursuant to
Section 3.07(a) hereof, an equivalent premium shall also become and be immediately due and payable
to the extent permitted by law upon the acceleration of the Notes. If an Event of Default occurs
prior to March 1, 2011 by reason of any willful action (or inaction) taken (or not taken) by or on
behalf of an Issuer with the intention of avoiding the prohibition on redemption of the Notes prior
to that date, then the premium specified in Section 3.07(a) with respect to the first year that the
Notes may be redeemed at the Issuers’ option pursuant to Section 3.07(a) will also become
immediately due and payable to the extent permitted by law upon the acceleration of the Notes.

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 and premium, interest and Additional 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.

     Holders of a majority in principal amount of the then outstanding Notes by 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 the principal of or premium, interest or Additional Interest, if any, on the Notes
(including in connection with an offer to purchase). 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 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 or that the Trustee determines may be unduly
prejudicial to the rights of other Holders of Notes or that may involve the Trustee in personal
liability.

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Section 6.06. Limitation on Suits.

     A Holder of a Note may pursue a remedy with respect to this Indenture or the Notes only if:

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

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

     (c) such Holder of a Note or Holders of Notes offer and, if requested, provide to the
Trustee indemnity or security satisfactory to the Trustee against any loss, liability or
expense;

     (d) the Trustee does not comply with the request within 60 days after receipt of the
request and the offer and, if requested, the provision of indemnity; and

     (e) during such 60-day period the Holders of a majority in principal amount of the then
outstanding Notes do not give the Trustee a direction inconsistent with the request.

     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 and premium, interest and Additional 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(a) or (b) occurs and is continuing, the
Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Issuers and the Guarantors for the whole amount of principal of, premium, interest and
Additional Interest, if any, remaining unpaid on the Notes and interest on overdue principal and,
to the extent lawful, interest and Additional Interest, if any, 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

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and counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the
Issuers (or any other obligor upon the Notes), their creditors or their 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.

Section 6.10. Priorities.

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

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

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

     Third: to the Issuers 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, against any party litigant in the suit, having due regard to the merits and good faith of the
claims or defenses made by the party litigant. This Section does not apply to a suit by the
Trustee, a suit

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by a Holder of a Note pursuant to Section 6.07 hereof, or a suit by Holders of more than 10%
in 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 shall exercise such of
the rights and powers vested in it by this Indenture, and use the same degree of care and skill in
its exercise, as a prudent man would exercise or use under the circumstances in the conduct of his
own affairs.

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

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

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

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

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

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

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

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

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

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Section 7.02. Rights of Trustee.

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

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

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

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

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

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

     (g) The Trustee shall have no duty to inquire as to the performance of the Company’s covenants
in Article 4 hereof. In addition, the Trustee shall not be deemed to have knowledge of any Default
or Event of Default except: (1) any Event of Default occurring pursuant to Section 6.01(a) or
6.01(b) hereof; or (2) any Default or Event of Default of which a Responsible Officer shall have
received written notification or obtained actual knowledge.

     (h) The permissive right of the Trustee to act hereunder shall not be construed as a duty.

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 Issuers, any Guarantor 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 (as defined in the TIA) after a Default has occurred and is continuing, it
must eliminate such conflict within 90 days, apply to the SEC for permission to continue as trustee
or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to
Sections 7.10 and 7.11 hereof.

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Section 7.04. Trustee’s Disclaimer.

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

Section 7.05. Notice of Defaults.

     If a Default or Event of Default occurs and is continuing and if it is known to the Trustee,
the Trustee shall 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 or premium, if any, interest or Additional 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.

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

     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 shall 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 shall comply with TIA § 313(b)(2) and §
313(b)(1). The Trustee shall also transmit by mail all reports as required by TIA § 313(c).

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

Section 7.07. Compensation and Indemnity.

     The Issuers shall pay to the Trustee from time to time such reasonable compensation as the
Issuers and the Trustee may agree in writing for the Trustee’s acceptance of this Indenture and
services hereunder. The Trustee’s compensation shall not be limited by any law on compensation of
a trustee of an express trust. The Issuers shall reimburse the Trustee promptly upon request for
all reasonable disbursements, advances and expenses incurred or made by it in addition to the
compensation for its services. Such expenses shall include the reasonable compensation,
disbursements and expenses of the Trustee’s agents and counsel.

     The Issuers and the Guarantors shall indemnify the Trustee, jointly and severally, against any
and all losses, liabilities or expenses incurred by it arising out of or in connection with the
acceptance or administration of its duties under this Indenture, including the costs and expenses
of enforcing this Indenture against the Issuers and the Guarantors (including this Section 7.07)
and defending itself against any claim (whether asserted by an Issuer, any Guarantor or any

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Holder or any other Person) or liability in connection with the exercise or performance of any
of its powers or duties hereunder, except to the extent any such loss, liability or expense may be
attributable to its negligence, bad faith or willful misconduct. The Trustee shall notify the
Issuers and the Guarantors promptly of any claim for which it may seek indemnity. Failure by the
Trustee to so notify the Issuers and the Guarantors shall not relieve the Issuers or the Guarantors
of their obligations hereunder. The Issuers and the Guarantors shall defend the claim and the
Trustee shall cooperate in the defense. The Trustee may have separate counsel and the Issuers and
the Guarantors shall pay the reasonable fees and expenses of such counsel; provided that the
Issuers and the Guarantors will not be required to pay such fees and expenses if they assume the
Trustee’s defense with counsel acceptable to and approved by the Trustee (such approval not to be
unreasonably withheld) and there is no conflict of interest between the Issuers and the Trustee in
connection with such defense. The Issuers and the Guarantors need not pay for any settlement made
without their consent, which consent shall not be unreasonably withheld. Neither the Issuers nor
the Guarantors need reimburse the Trustee for any expense or indemnity against any liability or
loss of the Trustee to the extent such expense, liability or loss is attributable to the
negligence, bad faith or willful misconduct of the Trustee.

     The obligations of the Issuers and the Guarantors under this Section 7.07 shall survive the
satisfaction and discharge of this Indenture.

     To secure the Issuers’ and the Guarantors’ payment obligations in this Section 7.07, the
Trustee shall have a Lien prior to the Notes on all money or property held or collected by the
Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien
shall survive the satisfaction and discharge of this Indenture.

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

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

Section 7.08. Replacement of Trustee.

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

     The Trustee may resign in writing upon 30 days notice at any time and be discharged from the
trust hereby created by so notifying the Issuers. The Holders of Notes of a majority in principal
amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the
Issuers in writing and may appoint a successor trustee with the consent of the Issuers. The
Issuers may remove the Trustee if:

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

     (b) 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;

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     (c) a receiver, Custodian or public officer takes charge of the Trustee or its
property; or

     (d) the Trustee becomes incapable of acting.

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

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

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

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

     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 shall be the successor Trustee. As soon as practicable, the successor Trustee shall mail a
notice of its succession to the Issuers and the Holders of the Notes.

Section 7.10. Eligibility; Disqualification.

     There shall at all times be a Trustee hereunder that is a corporation organized and doing
business under the laws of the United States of America or of any state thereof that is authorized
under such laws to exercise corporate trustee power, that is subject to supervision or examination
by federal or state authorities and that has a combined capital and surplus of at least $100
million as set forth in its most recent published annual report of condition.

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

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Section 7.11. Preferential Collection of Claims Against Issuers.

     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 Issuers may, at the option of their respective Boards of Directors evidenced by a
resolution set forth in an Officers’ Certificate, at any time, exercise their rights under either
Section 8.02 or 8.03 hereof with respect 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 Issuers’ exercise under Section 8.01 hereof of the option applicable to this Section
8.02, the Issuers shall, subject to the satisfaction of the conditions set forth in Section 8.04
hereof, be deemed to have discharged their obligations with respect to all outstanding Notes, and
each Guarantor shall be deemed to have discharged its obligations with respect to its Subsidiary
Guarantee, on the date the conditions set forth in Section 8.04 below are satisfied (hereinafter,
“Legal Defeasance”). For this purpose, Legal Defeasance means that the Issuers shall be deemed to
have paid and discharged the entire Indebtedness represented by the outstanding Notes, and each
Guarantor shall be deemed to have paid and discharged its Subsidiary Guarantee (which in each case
shall thereafter be deemed to be “outstanding” only for the purposes of Section 8.05 hereof and the
other Sections of this Indenture referred to in (a) and (b) below) and to have satisfied all its
other obligations under such Notes or Subsidiary Guarantee and this Indenture (and the Trustee, on
demand of and at the expense of the Issuers, shall execute proper instruments acknowledging the
same), except for the following provisions which shall survive until otherwise terminated or
discharged hereunder: (a) the rights of Holders of outstanding Notes to receive solely from the
trust fund described in Section 8.04 hereof, and as more fully set forth in such Section, payments
in respect of the principal of and premium, if any, interest and Additional Interest, if any, on
such Notes when such payments are due, (b) the Issuers’ obligations with respect to such Notes
under Sections 2.03, 2.04, 2.07, 2.09 and 4.02 hereof and the Appendix, (c) the rights, powers,
trusts, duties and immunities of the Trustee hereunder and the Issuers’ and the Guarantors’
obligations in connection therewith and (d) the Legal Defeasance provisions of this Article 8.
Subject to compliance with this Article 8, the Issuers may exercise their option under this Section
8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof.

     If the Issuers exercise their Legal Defeasance option, each Guarantor will be released and
relieved of any obligations under its Subsidiary Guarantee, and any security for the Notes (other
than the trust) will be released.

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Section 8.03. Covenant Defeasance.

     Upon the Issuers’ exercise under Section 8.01 hereof of the option applicable to this Section
8.03, the Issuers shall, subject to the satisfaction of the conditions set forth in Section 8.04
hereof, be released from their obligations under the covenants contained in Article 4 (other than
those in Sections 4.01, 4.02, 4.06 and 4.14) and in clause (d) of Section 5.01 hereof on and after
the date the conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”), and the
Notes shall thereafter be deemed not “outstanding” for the purposes of any direction, waiver,
consent or declaration or act of Holders (and the consequences of any thereof) in connection with
such covenants, but shall continue to be deemed “outstanding” for all other purposes hereunder (it
being understood that such Notes shall not be deemed outstanding for accounting purposes). For
this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Issuers
and any Guarantor may omit to comply with and shall have no liability in respect of any term,
condition or limitation set forth in any such covenant, whether directly or indirectly, by reason
of any reference elsewhere herein to any such covenant or by reason of any reference in any such
covenant to any other provision herein or in any other document and such omission to comply shall
not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified
above, the remainder of this Indenture and such Notes shall be unaffected thereby. In addition,
upon the Issuers’ exercise under Section 8.01 hereof of the option applicable to this Section 8.03
hereof, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, Sections
6.01(f) through 6.01(h) hereof shall not constitute Events of Default.

     If the Issuers exercise their Covenant Defeasance option, each Guarantor will be released and
relieved of any obligations under its Subsidiary Guarantee and any security for the Notes (other
than the trust) will be released.

Section 8.04. Conditions to Legal or Covenant Defeasance.

     In order to exercise either Legal Defeasance or Covenant Defeasance:

     (a) the Issuers 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
firm of independent public accountants, to pay the principal of and premium, interest and
Additional Interest, if any, on the outstanding Notes on the date of fixed maturity or on
the applicable redemption date, as the case may be, and the Issuers must specify whether the
Notes are being defeased to the date of fixed maturity or to a particular redemption date;

     (b) in the case of an election under Section 8.02 hereof, the Issuers shall have
delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
confirming that:

     (1) the Issuers have received from, or there has been published by, the
Internal Revenue Service a ruling; or

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     (2) since the Initial Issuance Date, 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;

     (c) in the case of an election under Section 8.03 hereof, the Issuers shall have
delivered to the Trustee an Opinion of Counsel reasonably acceptable to the Trustee
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;

     (d) no Default or Event of Default shall have occurred and be continuing on the date of
such deposit (other than a Default or Event of Default resulting from the incurrence of
Indebtedness or the grant of Liens securing such Indebtedness, all or a portion of the
proceeds of which will be used to defease the Notes pursuant to this Article 8 concurrently
with such incurrence or within 30 days thereof) or insofar as Events of Default described in
clause (i) or (j) of Section 6.01 are concerned, at any time in the period ending on the
91st day after the day of deposit;

     (e) such Legal Defeasance or Covenant Defeasance shall not result in a breach or
violation of, or constitute a default under, any material agreement or instrument (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;

     (f) the Issuers shall have delivered to the Trustee an Opinion of Counsel (which may be
based on such solvency certificates or solvency opinions as counsel deems necessary or
appropriate) to the effect that after the 91st day following the deposit, the trust funds
will not be subject to the effect of any applicable bankruptcy, insolvency, reorganization
or similar laws affecting creditors’ rights generally;

     (g) the Issuers shall have delivered to the Trustee an Officers’ Certificate stating
that the deposit was not made by the Issuers with the intent of preferring the Holders over
any other creditors of the Issuers or with the intent of defeating, hindering, delaying or
defrauding creditors of the Issuers or others; and

     (h) the Issuers shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that all conditions precedent provided for or relating to
the Legal Defeasance or the Covenant Defeasance have been complied with.

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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 pursuant to Section 8.04 or 8.08 hereof in respect
of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with the
provisions of such Notes and this Indenture, to the payment, either directly or through any Paying
Agent (including the Company or any of its Subsidiaries 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, interest and Additional Interest, if any, but such money need not be
segregated from other funds except to the extent required by law.

     The Issuers shall pay and indemnify the Trustee against any tax, fee or other charge imposed
on or assessed against the cash or non-callable Government Securities deposited pursuant to Section
8.04 or 8.08 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.

     Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Issuers from time to time upon the written request of the Issuers any money or non-callable
Government Securities held by it as provided in Section 8.04 or 8.08 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(a) hereof), are in excess of the amount thereof that would then be required to be deposited to
effect an equivalent Legal Defeasance, Covenant Defeasance or Discharge, as the case may be.

     Section 8.06. Repayment to Issuers.

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

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     Section 8.07. Reinstatement.

     If the Trustee or Paying Agent is unable to apply any money or non-callable Government
Securities in accordance with Section 8.05 hereof, by reason of any order or judgment of any court
or governmental authority enjoining, restraining or otherwise prohibiting such application, then
the Issuers’ obligations under this Indenture and the Notes shall be revived and reinstated as
though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the
Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.05
hereof; provided, however, that, if an Issuer makes any payment of principal of or premium,
interest, Additional Interest, if any, on any Note following the reinstatement of its obligations,
such Issuer shall be subrogated to the rights of the Holders of such Notes to receive such payment
from the money held by the Trustee or Paying Agent.

     Section 8.08. Discharge.

     This Indenture shall be satisfied and discharged and shall cease to be of further effect as to
all Notes issued hereunder (except for (a) the rights of Holders of outstanding Notes to receive
solely from the trust fund described in clause (b) of this Section 8.08, and as more fully set
forth in such clause (b), payments in respect of the principal of and premium, if any, interest and
Additional Interest, if any, on such Notes when such payments are due, (b) the Issuers’ obligations
with respect to such Notes under Sections 2.03, 2.04, 2.07, 2.09 and 4.02 hereof and the Appendix
and (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Issuers’
obligations in connection therewith), 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 Issuers, 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 or will become due and payable within one year by reason of the mailing of a
notice of redemption or otherwise, and the Issuers 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 of cash in U.S. dollars and non-callable Government Securities, in 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 accrued interest and Additional Interest, if any, to the
date of fixed maturity or redemption;

     (2) no Default or Event of Default has occurred and is continuing on the date of the deposit
or will occur as a result of the deposit and the deposit 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;

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

     (4) the Issuers have delivered irrevocable instructions to the Trustee to apply the deposited
money toward the payment of the Notes at fixed maturity or the redemption date, as the case may be;
and

     (5) the Issuers have delivered an Officers’ Certificate and an Opinion of Counsel to the
Trustee stating that all conditions precedent to satisfaction and discharge of this Indenture
(“Discharge”) have been satisfied.

ARTICLE 9

AMENDMENT, SUPPLEMENT AND WAIVER

Section 9.01. Without Consent of Holders of Notes.

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

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

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

     (c) to provide for the assumption of an Issuer’s obligations to the Holders of Notes
pursuant to Article 5 hereof;

     (d) 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 hereunder of any
Holder, provided that any change to conform this Indenture to the Offering Memorandum shall
not be deemed to adversely affect the legal rights hereunder of any Holder;

     (e) to secure the Notes or the Subsidiary Guarantees pursuant to the requirements of
Section 4.12 or otherwise;

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

     (g) to add any additional Guarantor with respect to the Notes or to evidence the
release of any Guarantor from its Subsidiary Guarantee in accordance with Article 10 hereof;

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

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     (i) to evidence or provide for the acceptance of appointment under this Indenture of a
successor Trustee.

     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 9.06 hereof, the Trustee shall join with the Issuers
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 shall not be obligated to enter into
such amended or supplemental Indenture that affects its own rights, duties or immunities under this
Indenture or otherwise.

Section 9.02. With Consent of Holders of Notes.

     Except as provided above in Section 9.01 and below in this Section 9.02, the Issuers, the
Guarantors and the Trustee may amend or supplement this Indenture and the Notes may be amended or
supplemented with the consent of the Holders of at least a majority in principal amount of the then
outstanding Notes (including consents obtained in connection with a purchase of, or tender offer or
exchange offer for, Notes), and, subject to Sections 6.04 and 6.07 hereof, any existing Default or
Event of Default or compliance with any provision of this Indenture or the Notes may be waived with
the consent of the Holders of a majority in principal amount of the then outstanding Notes
(including consents obtained in connection with a purchase of, tender offer or exchange offer for
Notes). However, without the consent of each Holder affected, an amendment, supplement or waiver
may not (with respect to any Notes held by a non-consenting Holder):

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

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

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

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

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

     (f) make any change in the provisions of this Indenture relating to waivers of past Defaults
or Events of Default or the rights of Holders of Notes to receive payments of principal of or
premium, interest or Additional Interest, if any, on the Notes (except as permitted in clause (g)
below);

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

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

     (i) make any change in the preceding amendment, supplement and waiver provisions.

     Upon the request of the Issuers accompanied by Board Resolutions authorizing their 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 9.06 hereof, the Trustee shall join with the
Issuers and the Guarantors in the execution of such amended or supplemental indenture, unless such
amended or supplemental indenture affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated
to, enter into such amended or supplemental indenture.

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

     After an amendment, supplement or waiver under this Section becomes effective, the Company
shall 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, shall
not, however, in any way impair or affect the validity of any such amended or supplemental
Indenture or waiver.

Section 9.03. Compliance with Trust Indenture Act.

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

     A consent to any amendment, supplement or waiver under this Indenture by any Holder given in
connection with a purchase, tender or exchange of such Holder’s Notes shall not be rendered invalid
by such purchase, tender or exchange.

Section 9.04. Revocation and Effect of Consents.

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

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     The Company may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to consent to any amendment, supplement or waiver. If a record
date is fixed, then notwithstanding the last sentence of the immediately preceding paragraph, those
Persons who were Holders at such record date (or their duly designated proxies), and only those
Persons, shall be entitled to consent to such amendment or waiver or revoke any consent previously
given, whether or not such Persons continue to be Holders after such record date. No consent shall
be valid or effective for more than 90 days after such record date except to the extent that the
requisite number of consents to the amendment, supplement or waiver have been obtained within such
90-day period or as set forth in the next paragraph of this Section 9.04.

     After an amendment, supplement or waiver becomes effective, it shall bind every Holder, unless
it makes a change described in any of clauses (a) through (i) of Section 9.02, in which case, the
amendment, supplement or waiver shall bind only each Holder of a Note who has consented to it and
every subsequent Holder of a Note or portion of a Note that evidences the same indebtedness as the
consenting Holder’s Note.

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 Issuers, in exchange for all Notes, may issue and the Trustee
shall authenticate new Notes that reflect the amendment, supplement or waiver.

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

Section 9.06. Trustee to Sign Amendments, etc.

     The Trustee shall sign any 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. In executing any amended or supplemental indenture, the Trustee
shall be entitled to receive and (subject to Section 7.01) shall be fully protected in relying
upon, 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

GUARANTEES OF NOTES

Section 10.01. Subsidiary Guarantees.

     Subject to this Article 10, each of the Guarantors hereby, jointly and severally,
unconditionally guarantees, on a senior unsecured basis, 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 held thereby and the Obligations of the
Issuers hereunder and thereunder, that: (a) the principal of and premium, interest and Additional
Interest, if any, on the Notes will be promptly paid in full when due, subject to any applicable
grace period, whether at Stated Maturity, by acceleration, upon repurchase or redemption or
otherwise, and interest on the overdue principal of and premium, (to the extent permitted by law)

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interest and Additional Interest, if any, on the Notes, and all other payment Obligations of
the Issuers to the Holders or the Trustee hereunder or thereunder will be promptly paid in full and
performed, all in accordance with the terms hereof and thereof; and (b) in case of any extension of
time of payment or renewal of any Notes or any of such other Obligations, the same will be promptly
paid in full when due or performed in accordance with the terms of the extension or renewal,
subject to any applicable grace period, whether at Stated Maturity, by acceleration, upon
repurchase or redemption or otherwise. Failing payment when so due of any amount so guaranteed for
whatever reason, the Guarantors will be jointly and severally obligated to pay the same
immediately. An Event of Default under this Indenture or the Notes shall constitute an event of
default under the Subsidiary Guarantees, and shall entitle the Holders to accelerate the
obligations of the Guarantors hereunder in the same manner and to the same extent as the
Obligations of the Issuers.

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

     If any Holder or the Trustee is required by any court or otherwise to return to an Issuer, the
Guarantors, or any Custodian, Trustee or other similar official acting in relation to any of the
Issuers or the Guarantors, any amount paid by an Issuer or any Guarantor to the Trustee or such
Holder, the Subsidiary Guarantees, to the extent theretofore discharged, shall be reinstated in
full force and effect. Each Guarantor agrees that it shall not be entitled to, and hereby waives,
any right of subrogation in relation to the Holders in respect of any 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, (a) the maturity of the Obligations guaranteed hereby
may be accelerated as provided in Article 6 hereof for the purposes of its Subsidiary Guarantee,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect
of the Obligations guaranteed thereby, and (b) 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)
shall forthwith become due and payable by the Guarantor for the purpose of its Subsidiary
Guarantee. The Guarantors shall have the right to seek contribution from any non-paying Guarantor
so long as the exercise of such right does not impair the rights of the Holders under the
Subsidiary Guarantees.

Section 10.02. [Reserved].

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Section 10.03. Guarantors May Consolidate, etc., on Certain Terms.

     (a) No Guarantor shall sell or otherwise dispose of all or substantially all of its properties
or 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, (i) either
(1) the Person acquiring the properties or assets in any such sale or other disposition or the
Person formed by or surviving any such consolidation or merger (if other than such Guarantor)
unconditionally assumes all the obligations of such Guarantor, pursuant to a supplemental
indenture, substantially in the form of Annex A hereto, under the Notes, this Indenture and its
Subsidiary Guarantee on terms set forth therein, or (2) the Net Proceeds of such sale or other
disposition are applied in accordance with the provisions of Section 4.10, and (ii) immediately
after giving effect to such transaction, no Default or Event of Default exists.

     (b) In the case of any such consolidation or merger and upon the assumption by the successor
Person, by supplemental indenture, executed and delivered to the Trustee and substantially in the
form of Annex A hereto, of the Subsidiary Guarantee and the due and punctual performance of all of
the covenants of this Indenture to be performed by the Guarantor, such successor Person shall
succeed to and be substituted for the Guarantor with the same effect as if it had been named herein
as a Guarantor.

Section 10.04. Releases of Subsidiary Guarantees.

     The Subsidiary Guarantee of a Guarantor shall be released: (1) in connection with any sale or
other disposition of all or substantially all of the properties or assets of such Guarantor
(including by way of merger or consolidation) to a Person that is not (either before or after
giving effect to such transaction) a Restricted Subsidiary of the Company, if the sale or other
disposition complies with Section 4.10; (2) in connection with any sale or other disposition of all
of the Capital Stock of such Guarantor to a Person that is not (either before or after giving
effect to such transaction) a Restricted Subsidiary of the Company, if the sale or other
disposition complies with Section 4.10; (3) if the Company designates any Restricted Subsidiary
that is a Guarantor as an Unrestricted Subsidiary in accordance with Section 4.20 of this
Indenture; (4) upon Legal Defeasance or Covenant Defeasance or Discharge in accordance with Article
8; or (5) at such time as such Guarantor ceases to guarantee any other Indebtedness of either of
the Issuers and any Indebtedness of any other Guarantor, provided that it is then no longer an
obligor with respect to any Indebtedness under any Credit Facility.

     Upon delivery by the Company to the Trustee of an Officers’ Certificate to the effect that any
of the conditions described in the foregoing clauses (1) – (6) has occurred, the Trustee shall
execute any documents reasonably requested by the Company in order to evidence the release of any
Guarantor from its obligations under its Subsidiary Guarantee. Any Guarantor not released from its
obligations under its Subsidiary Guarantee shall remain liable for the full amount of principal of
and premium, interest and Additional Interest, if any, on the Notes and for the other obligations
of such Guarantor under this Indenture as provided in this Article 10.

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Section 10.05. [Reserved].

Section 10.06. Limitation on Guarantor Liability.

     The obligations of each Guarantor under its Subsidiary Guarantee will be limited to the
maximum amount as will, after giving effect to all other contingent and fixed liabilities of such
Guarantor and after giving effect to any collections from or payments made by or on behalf of any
other Guarantor in respect of the obligations of such other Guarantor under its Subsidiary
Guarantee or pursuant to its contribution obligations under this Indenture, result in the
obligations of such Guarantor under its Subsidiary Guarantee not constituting a fraudulent
conveyance or fraudulent transfer under federal or state law and not otherwise being void or
voidable under any similar laws affecting the rights of creditors generally.

Section 10.07. “Trustee” to Include Paying Agent.

     In case at any time any Paying Agent other than the Trustee shall have been appointed and be
then acting hereunder, the term “Trustee” as used in this Article 10 shall in each case (unless the
context shall otherwise require) be construed as extending to and including such Paying Agent
within its meaning as fully and for all intents and purposes as if such Paying Agent were named in
this Article 10 in place of the Trustee.

ARTICLE 11

MISCELLANEOUS

Section 11.01. Trust Indenture Act Controls.

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

Section 11.02. Notices.

     Any notice or communication by an Issuer, any Guarantor or the Trustee to the others is duly
given if in writing (in the English language) and delivered in person or mailed by first class mail
(registered or certified, return receipt requested), telecopier or overnight air courier
guaranteeing next day delivery, to the others’ address:

     If to any of the Issuers or the Guarantors:

Copano Energy, L.L.C.

2727 Allen Parkway, Suite 1200

Houston, Texas 77019

Attention: Chief Financial Officer

Telecopier No.: (713) 737-9047

78

 

     with a copy to:

Vinson & Elkins L.L.P.

2300 First City Tower

1001 Fannin St.

Houston, Texas 77002-6760

Attention: David P. Oelman

Telecopier No.: (713) 615-5861

     If to the Trustee:

U.S. Bank National Association

EX-TX-DCRE

14241 Dallas Parkway, Suite 490

Dallas, Texas 75254

Attention: Corporate Trust Department

Telecopier No.: (972) 789-9605

     An Issuer, any of the Guarantors 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) shall be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five Business Days after being
deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if telecopied; and
the next Business Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery in each case to the address shown above.

     Any notice or communication to a Holder shall 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 shall 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 shall 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 either of the Issuers mails a notice or communication to Holders, it shall mail a copy to
the Trustee and each Agent at the same time.

Section 11.03. 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 Issuers, the Trustee, the Registrar and anyone else
shall have the protection of TIA § 312(c).

79

 

Section 11.04. Certificate and Opinion as to Conditions Precedent.

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

          (a) an Officers’ Certificate in form and substance reasonably satisfactory to the
Trustee (which shall include the statements set forth in Section 11.05 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

          (b) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee
(which shall include the statements set forth in Section 11.05 hereof) stating that, in the
opinion of such counsel, all such conditions precedent and covenants have been satisfied.

Section 11.05. 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)) shall comply
with the provisions of TIA § 314(e) and shall include:

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

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

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

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

Section 11.06. 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 11.07. No Personal Liability of Directors, Officers, Employees and Unitholders.

     No past, present or future director, officer, partner, employee, incorporator, manager or
unitholder or other owner of Capital Stock of the Issuers or any Guarantor, as such, shall have any
liability for any obligations of the Issuers or any Guarantor under the Notes, the Subsidiary
Guarantees or this Indenture or for any claim based on, in respect of, or by reason of, such

80

 

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.

Section 11.08. Governing Law.

     THIS INDENTURE AND THE NOTES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK.

Section 11.09. 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 11.10. Successors.

     All agreements of the Issuers and the Guarantors in this Indenture and the Notes shall bind
their respective successors. All agreements of the Trustee in this Indenture shall bind its
successors.

Section 11.11. Severability.

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

Section 11.12. 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 shall in no way modify or restrict any of the terms or provisions hereof.

Section 11.13. Counterparts.

     This Indenture may be signed in counterparts and by the different parties hereto in separate
counterparts, each of which shall constitute an original and all of which together shall constitute
one and the same instrument.

[Signatures on following page]

81

 

SIGNATURES

	 	 	 	 	 
	 	 	Copano Energy, L.L.C.
	 
	 	 	 	 
	 	 	By:	 /s/ Matthew J. Assiff
	 
	 	 	 	 
	 	 	Matthew J. Assiff
	 	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 	 
	 	 	Copano Energy Finance Corporation
	 
	 	 	 	 
	 	 	By:	 /s/ Matthew J. Assiff
	 

	 	 	 	 
	 	 	Matthew J. Assiff
	 	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 	 
	 	 	Guarantors

	 
	 	 	 	 
	 	 	Scissortail Energy, LLC
	 	 	Copano Energy/Rocky Mountains and
	 	 	     Mid-Continent, L.L.C.
	 	 	Copano Processing GP, L.L.C.
	 	 	Copano NGL 
Services GP, L.L.C.
	 	 	Copano Field Services GP, L.L.C.
	 	 	Copano Pipelines GP, L.L.C.
	 	 	Copano Pipelines (Texas) GP, L.L.C.
	 	 	Copano Energy Services GP, L.L.C.
	 	 	Copano Energy Services (Texas) GP, L.L.C.
	 	 	Copano Field Services/Central Gulf
	 	 	     Coast GP, L.L.C.
	 	 	Copano/Webb-Duval Pipeline GP, L.L.C.
	 	 	CPNO Services GP, L.L.C.
	 	 	Nueces Gathering, L.L.C.
	 	 	Estes Cove facilities, L.L.C.
	 
	 	 	 	 
	 	 	By:	 /s/ Matthew J. Assiff
	 

	 	 	 	 
	 	 	Matthew J. Assiff
	 	 	Senior Vice President and Chief Financial Officer

82

 

	 	 	 	 	 
	 	 	Copano Processing, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Copano Processing GP, L.L.C.,
	 

	 	 	 	General Partner
	 
	 	 	 	 
	 

	 	By:	 	 /s/ Matthew J. Assiff
	 

	 	 	 	 
	 	 	Matthew J. Assiff

	 	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 	 
	 	 	Copano NGL Services, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Copano NGL Services GP, L.L.C.,
	 

	 	 	 	General Partner
	 
	 	 	 	 
	 

	 	By:	 	 /s/ Matthew J. Assiff
	 

	 	 	 	 
	 	 	Matthew J. Assiff

	 	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 	 
	 	 	Copano Houston Central, L.L.C.
	 	 	CHC LP Holdings, L.L.C.
	 	 	Copano Pipelines Group, L.L.C.
	 	 	Copano General Partners, Inc.
	 	 	CPG LP Holdings, L.L.C.
	 	 	CWDPL LP Holdings, L.L.C.
	 	 	CPNO Services LP Holdings, L.L.C.
	 
	 	 	 	 
	 

	 	By:	 	 /s/ Susan T. Dubb
	 

	 	 	 	 
	 	 	Susan T. Dubb
	 	 	Vice President and Assistant Secretary

83

 

	 	 	 	 	 
	 	 	Copano Field Services/Aqua Dulce, L.P.
	 	 	Copano Field Services/Copano Bay, L.P.
	 	 	Copano Field Services/Karnes, L.P.
	 	 	Copano Field Services/Live Oak, L.P.
	 	 	Copano Field Services/South Texas, L.P.
	 	 	Copano Field Services/Upper Gulf Coast, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Copano Field Services GP, L.LC.,
	 

	 	 	 	General Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Matthew J. Assiff 
	 

	 	 	 	 
	 	 	 	 	Matthew J. Assiff

	 	 	 	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 	 
	 	 	Copano Pipelines/Hebbronville, L.P.
	 	 	Copano Pipelines/South Texas, L.P.
	 	 	Copano Pipelines/Upper Gulf Coast, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Copano Pipelines GP, L.L.C.,
	 

	 	 	 	General Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Matthew J. Assiff 
	 

	 	 	 	 
	 	 	 	 	Matthew J. Assiff

	 	 	 	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 	 
	 	 	Copano Pipelines/Texas Gulf Coast, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Copano Pipelines (Texas) GP, L.L.C.,
	 

	 	 	 	General Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Matthew J. Assiff 
	 

	 	 	 	 
	 	 	 	 	Matthew J. Assiff

	 	 	 	 	Senior Vice President and Chief Financial Officer

84

 

	 	 	 	 	 
	 	 	Copano Field Services/Central Gulf 

	 	 	 Coast, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Copano Field Services/Central

 Gulf coast GP, L.L.C., General Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Matthew J. Assiff 
	 

	 	 	 	 
	 	 	 	 	Matthew J. Assiff

	 	 	 	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 	 
	 	 	Copano Energy Services/Upper Gulf
	 	 	 Coast, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Copano
Energy Services GP, L.L.C.,

General Partner
	 
	 	 	 	 
		 	By:	 	/s/ Matthew J. Assiff 
	 

	 	 	 	 
	 	 	 	 	Matthew J. Assiff

	 	 	 	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 	 
	 	 	Copano Energy Services/Texas Gulf

	 	 	 Coast, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Copano Energy Services (Texas)

 GP, L.L.C., General Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Matthew J. Assiff 
	 

	 	 	 	 
	 	 	 	 	Matthew J. Assiff

	 	 	 	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 	 
	 	 	Copano/Webb-Duval Pipeline, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Copano/Webb-Duval Pipeline GP, 

 L.L.C., General Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Matthew J. Assiff 
	 

	 	 	 	 
	 	 	 	 	Matthew J. Assiff

	 	 	 	 	Senior Vice President and Chief Financial Officer

85

 

	 	 	 	 	 
	 	 	CPNO Services, L.P.

	 	 	Copano Risk Management, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	CPNO Services GP, L.L.C.,

General Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Matthew J. Assiff 
	 

	 	 	 	 
	 	 	 	 	Matthew J. Assiff

	 	 	 	 	Senior Vice President and Chief Financial Officer
	 
	 	 	 	 
	 	 	U.S. Bank National Association, as Trustee
	 
	 	 	 	 
	 

	 	By:	 	/s/ Kevin McIllwaine 
	 

	 	 	 	 
	 	 	[Name]
	 	 	[Title]

86

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