Document:

Exhibit 10.1

 

AMENDMENT NO. 1

to

2006 STOCK AWARDS PLAN

of

TGC INDUSTRIES, INC.

 

On April 12, 2010, the Board of Directors of TGC Industries, Inc., a Texas corporation (the “Company”) adopted Amendment No. 1 to the 2006 Stock Awards Plan (the “2006 Plan”) to increase the number of shares authorized for issuance under the 2006 Plan by 2,000,000 shares (from 1,000,000 shares to 3,000,000 shares).  Such amendment was approved by the Company’s shareholders at their annual meeting held on June 11, 2010.

 

The 2006 Plan, authorizing 1,000,000 shares of Common Stock for issuance, was originally approved by the Company’s shareholders June 6, 2006.  The 2006 Plan is hereby amended by completely replacing Article 5.1 to read as follows:

 

“5.1        Number Available for Awards.  Subject to adjustment as provided in Articles 11 and 12, the maximum number of shares of Common Stock that may be delivered pursuant to Awards granted under the Plan is 3,000,000 shares, 100% of which may be delivered pursuant to Incentive Stock Options.  Subject to adjustment pursuant to Articles 11 and 12, no Participant may receive in any calendar year (i) Stock Options relating to more than 50,000 shares of Common Stock, or (ii) Common Stock or Restricted Stock relating to more than 30,000 shares of Common Stock; provided, however, that all such Awards to any Participant during any calendar year shall not exceed an aggregate of more than 80,000 shares of Common Stock.  Shares to be issued may be made available from authorized but unissued Common Stock, Common Stock held by the Company in its treasury, or Common Stock purchased by the Company on the open market or otherwise. During the term of this Plan, the Company shall at all times reserve and keep available the number of shares of Common Stock that will be sufficient to satisfy the requirements of this Plan.”

 

DATED to be effective April 12, 2010.

 

	     
    	    BOARD OF DIRECTORS OF
    
	     
    	    TGC INDUSTRIES, INC.
    
	     
    	     
    
	     
    	     
    
	     
    	    By:
    	    /s/ Wayne A. Whitener
    
	     
    	     
    	    Wayne A. Whitener
    
	     
    	     
    	    President and CEOExhibit
4.1(a)

 

Execution Version

 

GENZYME CORPORATION,

 

as Issuer,

 

and

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

 

as Trustee

 

 

INDENTURE

 

 

Dated as of June 17, 2010

 

 

CROSS-REFERENCE TABLE

 

	
  TIA Section

  	
   

  	
   

  	
  Indenture Section

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  310

  	
  (a)(1)

  	
   

  	
   

  	
  8.9

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
   

  	
  8.9

  	
   

  
	
   

  	
  (a)(3)

  	
   

  	
   

  	
  N/A

  	
   

  
	
   

  	
  (a)(4)

  	
   

  	
   

  	
  N/A

  	
   

  
	
   

  	
  (a)(5)

  	
   

  	
   

  	
  8.9

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  8.8; 8.9

  	
   

  
	
   

  	
  (c)

  	
   

  	
   

  	
  N/A

  	
   

  
	
  311

  	
  (a)

  	
   

  	
   

  	
  8.13

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  8.13

  	
   

  
	
   

  	
  (c)

  	
   

  	
   

  	
  N/A

  	
   

  
	
  312

  	
  (a)

  	
   

  	
   

  	
  9.1

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  9.2

  	
   

  
	
   

  	
  (c)

  	
   

  	
   

  	
  9.2

  	
   

  
	
  313

  	
  (a)

  	
   

  	
   

  	
  9.3

  	
   

  
	
   

  	
  (b)(1)

  	
   

  	
   

  	
  9.3

  	
   

  
	
   

  	
  (b)(2)

  	
   

  	
   

  	
  9.3

  	
   

  
	
   

  	
  (c)

  	
   

  	
   

  	
  9.3

  	
   

  
	
   

  	
  (d)

  	
   

  	
   

  	
  9.3

  	
   

  
	
  314

  	
  (a)

  	
   

  	
   

  	
  9.4

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  N/A

  	
   

  
	
   

  	
  (c)(1)

  	
   

  	
   

  	
  1.2

  	
   

  
	
   

  	
  (c)(2)

  	
   

  	
   

  	
  1.2

  	
   

  
	
   

  	
  (c)(3)

  	
   

  	
   

  	
  N/A

  	
   

  
	
   

  	
  (d)

  	
   

  	
   

  	
  N/A

  	
   

  
	
   

  	
  (e)

  	
   

  	
   

  	
  1.2

  	
   

  
	
   

  	
  (f)

  	
   

  	
   

  	
  1.2

  	
   

  
	
  315

  	
  (a)

  	
   

  	
   

  	
  8.1

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  8.2

  	
   

  
	
   

  	
  (c)

  	
   

  	
   

  	
  8.1

  	
   

  
	
   

  	
  (d)

  	
   

  	
   

  	
  8.1;8.3

  	
   

  
	
   

  	
  (e)

  	
   

  	
   

  	
  7.14

  	
   

  
	
  316

  	
  (a) (last
  sentence)

  	
   

  	
   

  	
  1.1(“Outstanding”)

  	
   

  
	
   

  	
  (a)(1)(A)

  	
   

  	
   

  	
  7.12

  	
   

  
	
   

  	
  (a)(1)(B)

  	
   

  	
   

  	
  7.13

  	
   

  
	
   

  	
  (a)(2)

  	
   

  	
   

  	
  N/A

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  7.8

  	
   

  
	
   

  	
  (c)

  	
   

  	
   

  	
  10.2

  	
   

  
	
  317

  	
  (a)(1)

  	
   

  	
   

  	
  7.3

  	
   

  

 

i

 

	
   

  	
  (a)(2)

  	
   

  	
   

  	
  7.4

  	
   

  
	
   

  	
  (b)

  	
   

  	
   

  	
  5.3

  	
   

  
	
  318

  	
  (a)

  	
   

  	
   

  	
  1.7

  	
   

  

 

N/A
means Not Applicable

 

Note:  This Cross-Reference Table shall not, for any
purpose, be deemed to be part of this Indenture.

 

ii

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE I DEFINITIONS AND
  OTHER PROVISIONS OF GENERAL APPLICATION

  	
  1

  
	
  Section 1.1.

  	
   

  	
  Definitions

  	
  1

  
	
  Section 1.2.

  	
   

  	
  Compliance Certificates and Opinions

  	
  7

  
	
  Section 1.3.

  	
   

  	
  Form of Documents Delivered to Trustee

  	
  7

  
	
  Section 1.4.

  	
   

  	
  Acts of Holders

  	
  8

  
	
  Section 1.5.

  	
   

  	
  Notices, Etc., to Trustee or Company

  	
  9

  
	
  Section 1.6.

  	
   

  	
  Notice to Holders; Waiver

  	
  9

  
	
  Section 1.7.

  	
   

  	
  Conflict with Trust Indenture Act

  	
  9

  
	
  Section 1.8.

  	
   

  	
  Effect of Headings and Table of Contents

  	
  10

  
	
  Section 1.9.

  	
   

  	
  Successors and Assigns

  	
  10

  
	
  Section 1.10.

  	
   

  	
  Separability Clause

  	
  10

  
	
  Section 1.11.

  	
   

  	
  Benefits of Indenture

  	
  10

  
	
  Section 1.12.

  	
   

  	
  Governing Law

  	
  10

  
	
  Section 1.13.

  	
   

  	
  Legal Holidays

  	
  10

  
	
  Section 1.14.

  	
   

  	
  Waiver of Jury Trial

  	
  10

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE II THE SECURITIES

  	
  11

  
	
  Section 2.1.

  	
   

  	
  Amount Unlimited; Issuable in Series

  	
  11

  
	
  Section 2.2.

  	
   

  	
  Denominations

  	
  13

  
	
  Section 2.3.

  	
   

  	
  Execution, Authentication, Delivery and Dating

  	
  13

  
	
  Section 2.4.

  	
   

  	
  Temporary Securities

  	
  16

  
	
  Section 2.5.

  	
   

  	
  Registration; Registration of Transfer and Exchange

  	
  16

  
	
  Section 2.6.

  	
   

  	
  Mutilated, Destroyed, Lost and Stolen Securities

  	
  17

  
	
  Section 2.7.

  	
   

  	
  Payment of Interest; Interest Rights Preserved

  	
  18

  
	
  Section 2.8.

  	
   

  	
  Persons Deemed Owners

  	
  19

  
	
  Section 2.9.

  	
   

  	
  Cancellation

  	
  20

  
	
  Section 2.10.

  	
   

  	
  Computation of Interest

  	
  20

  
	
  Section 2.11.

  	
   

  	
  CUSIP Numbers

  	
  20

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE III REDEMPTION OF
  SECURITIES

  	
  20

  
	
  Section 3.1.

  	
   

  	
  Applicability of Article

  	
  20

  
	
  Section 3.2.

  	
   

  	
  Election to Redeem; Notice to Trustee

  	
  20

  
	
  Section 3.3.

  	
   

  	
  Selection by Trustee of Securities to Be Redeemed

  	
  21

  
	
  Section 3.4.

  	
   

  	
  Notice of Redemption

  	
  21

  
	
  Section 3.5.

  	
   

  	
  Deposit of Redemption Price

  	
  22

  
	
  Section 3.6.

  	
   

  	
  Securities Payable on Redemption Date

  	
  22

  
	
  Section 3.7.

  	
   

  	
  Securities Redeemed in Part

  	
  23

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IV SINKING FUNDS

  	
  23

  
	
  Section 4.1.

  	
   

  	
  Applicability of Article

  	
  23

  

 

iii

 

	
  Section 4.2.

  	
   

  	
  Satisfaction
  of Sinking Fund Payments with Securities

  	
  23

  
	
  Section 4.3.

  	
   

  	
  Redemption of Securities for Sinking Fund

  	
  23

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE V COVENANTS

  	
  24

  
	
  Section 5.1.

  	
   

  	
  Payment of Principal, Premium and Interest

  	
  24

  
	
  Section 5.2.

  	
   

  	
  Maintenance of Office or Agency

  	
  24

  
	
  Section 5.3.

  	
   

  	
  Money for Securities Payments to Be Held in Trust

  	
  25

  
	
  Section 5.4.

  	
   

  	
  Corporate Existence

  	
  26

  
	
  Section 5.5.

  	
   

  	
  Statement by Officers as to Default

  	
  26

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VI CONSOLIDATION,
  MERGER, CONVEYANCE, TRANSFER OR LEASE

  	
  26

  
	
  Section 6.1.

  	
   

  	
  Company May Consolidate, Etc., Only on Certain
  Terms

  	
  26

  
	
  Section 6.2.

  	
   

  	
  Successor Substituted

  	
  27

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VII REMEDIES

  	
  27

  
	
  Section 7.1.

  	
   

  	
  Events of Default

  	
  27

  
	
  Section 7.2.

  	
   

  	
  Acceleration of Maturity; Rescission and Annulment

  	
  29

  
	
  Section 7.3.

  	
   

  	
  Collection of Indebtedness and Suits for Enforcement by
  Trustee

  	
  31

  
	
  Section 7.4.

  	
   

  	
  Trustee May File Proofs of Claim

  	
  32

  
	
  Section 7.5.

  	
   

  	
  Trustee May Enforce Claims Without Possession of
  Securities

  	
  32

  
	
  Section 7.6.

  	
   

  	
  Application of Money Collected

  	
  33

  
	
  Section 7.7.

  	
   

  	
  Limitation on Suits

  	
  33

  
	
  Section 7.8.

  	
   

  	
  Unconditional Right of Holders to Receive Principal,
  Premium and Interest

  	
  34

  
	
  Section 7.9.

  	
   

  	
  Restoration of Rights and Remedies

  	
  34

  
	
  Section 7.10.

  	
   

  	
  Rights and Remedies Cumulative

  	
  34

  
	
  Section 7.11.

  	
   

  	
  Delay or Omission Not Waiver

  	
  34

  
	
  Section 7.12.

  	
   

  	
  Control by Holders

  	
  34

  
	
  Section 7.13.

  	
   

  	
  Waiver of Past Defaults

  	
  35

  
	
  Section 7.14.

  	
   

  	
  Undertaking for Costs

  	
  35

  
	
  Section 7.15.

  	
   

  	
  Waiver of Usury, Stay or Extension Laws

  	
  36

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VIII THE TRUSTEE

  	
  36

  
	
  Section 8.1.

  	
   

  	
  Certain Duties and Responsibilities

  	
  36

  
	
  Section 8.2.

  	
   

  	
  Notice of Defaults

  	
  37

  
	
  Section 8.3.

  	
   

  	
  Certain Rights of Trustee

  	
  37

  
	
  Section 8.4.

  	
   

  	
  Not Responsible for Recitals or Issuance of Securities

  	
  39

  
	
  Section 8.5.

  	
   

  	
  May Hold Securities

  	
  39

  
	
  Section 8.6.

  	
   

  	
  Money Held in Trust

  	
  39

  
	
  Section 8.7.

  	
   

  	
  Compensation and Reimbursement

  	
  39

  
	
  Section 8.8.

  	
   

  	
  Disqualification; Conflicting Interests

  	
  40

  
	
  Section 8.9.

  	
   

  	
  Corporate Trustee Required; Eligibility

  	
  40

  
	
  Section 8.10.

  	
   

  	
  Resignation and Removal; Appointment of Successor

  	
  40

  
	
  Section 8.11.

  	
   

  	
  Acceptance of Appointment by Successor

  	
  42

  

 

iv

 

	
  Section 8.12.

  	
   

  	
  Merger, Conversion, Consolidation or Succession to Business

  	
  43

  
	
  Section 8.13.

  	
   

  	
  Preferential Collection of Claims

  	
  43

  
	
  Section 8.14.

  	
   

  	
  Appointment of Authenticating Agent

  	
  43

  
	
  Section 8.15.

  	
   

  	
  Consequential Damages

  	
  45

  
	
  Section 8.16.

  	
   

  	
  Notices

  	
  45

  
	
  Section 8.17.

  	
   

  	
  Force Majeure

  	
  45

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IX HOLDERS’ LISTS
  AND REPORTS BY TRUSTEE AND COMPANY

  	
  46

  
	
  Section 9.1.

  	
   

  	
  Company to Furnish Trustee Names and Addresses of Holders

  	
  46

  
	
  Section 9.2.

  	
   

  	
  Preservation of Information; Communications to Holders

  	
  46

  
	
  Section 9.3.

  	
   

  	
  Reports by Trustee

  	
  46

  
	
  Section 9.4.

  	
   

  	
  Reports by Company

  	
  47

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE X SUPPLEMENTAL
  INDENTURES

  	
  48

  
	
  Section 10.1.

  	
   

  	
  Supplemental Indentures Without Consent of Holders

  	
  48

  
	
  Section 10.2.

  	
   

  	
  Supplemental Indentures with Consent of Holders

  	
  49

  
	
  Section 10.3.

  	
   

  	
  Execution of Supplemental Indentures

  	
  50

  
	
  Section 10.4.

  	
   

  	
  Effect of Supplemental Indentures

  	
  50

  
	
  Section 10.5.

  	
   

  	
  Conformity with Trust Indenture Act

  	
  50

  
	
  Section 10.6.

  	
   

  	
  Reference in Securities to Supplemental Indentures

  	
  51

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE XI SATISFACTION AND
  DISCHARGE; DEFEASANCE

  	
  51

  
	
  Section 11.1.

  	
   

  	
  Satisfaction and Discharge of Indenture

  	
  51

  
	
  Section 11.2.

  	
   

  	
  Company’s Option to Effect Defeasance or Covenant
  Defeasance

  	
  52

  
	
  Section 11.3.

  	
   

  	
  Defeasance and Discharge

  	
  52

  
	
  Section 11.4.

  	
   

  	
  Covenant Defeasance

  	
  53

  
	
  Section 11.5.

  	
   

  	
  Conditions to Defeasance or Covenant Defeasance

  	
  53

  
	
  Section 11.6.

  	
   

  	
  Deposited Money and U.S. Government Obligations to Be Held
  in Trust; Other Miscellaneous Provisions

  	
  55

  

 

v

 

INDENTURE,
dated as of June 17, 2010, between Genzyme Corporation, a Massachusetts
corporation (herein called the “Company”), having its principal
executive offices at 500 Kendall Street, Cambridge, Massachusetts 02142, and
The Bank of New York Mellon Trust Company, N.A., a national banking
association, as trustee (herein called the “Trustee”).

 

RECITALS OF THE COMPANY

 

The
Company has duly authorized the execution and delivery of this Indenture to
provide for the issuance from time to time of its unsecured senior debentures,
notes or other evidences of indebtedness (herein called the “Securities”),
to be issued in one or more series as in this Indenture provided.

 

NOW,
THEREFORE, for and in consideration of the premises and the purchase of the
Securities by the Holders thereof, the Company and the Trustee mutually
covenant and agree, for the equal and proportionate benefit of all Holders of
the Securities or of any series thereof, as follows:

 

ARTICLE I

 

DEFINITIONS AND OTHER
PROVISIONS

OF GENERAL APPLICATION

 

Section 1.1.            Definitions.

 

For
all purposes of this Indenture, except as otherwise expressly provided or
unless the context otherwise requires:

 

(1)           the terms defined in this Article have the respective
meanings assigned to them in this Article and include the plural as well
as the singular;

 

(2)           all other terms used herein which are defined in the Trust
Indenture Act, either directly or by reference therein, have the respective
meanings assigned to them therein;

 

(3)           all accounting terms not otherwise defined herein have the
respective meanings assigned to them in accordance with generally accepted
accounting principles, and, except as otherwise herein expressly provided, the
term “generally accepted accounting principles” with respect to any
computation required in the United States of America or permitted hereunder
shall mean such accounting principles as are generally accepted at the date of
such computation;

 

(4)           the words “herein”, “hereof” and “hereunder”
and other words of similar import refer to this Indenture as a whole and not to
any particular Article, Section or other subdivision; and

 

(5)           references to Sections are to Sections of this Indenture
unless otherwise expressly indicated.

 

1

 

“Act”,
when used with respect to any Holder, has the meaning specified in Section 1.4(a).

 

“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.

 

“Authenticating
Agent” means any Person authorized by the Trustee to act on behalf of the
Trustee to authenticate Securities.

 

“Board
of Directors” means the board of directors of the Company or any duly
authorized committee of such board.

 

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

 

“Business
Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is
not a day on which banking institutions in New York, New York, Boston,
Massachusetts or the city in which the Corporate Trust Office is located are
required or authorized to close.

 

“Capital
Stock” for any corporation means any and all shares, interests, rights to
purchase, warrants, options, participations or other equivalents of or
interests in (however designated) stock issued by that corporation.

 

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

 

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

 

“Company
Request” or “Company Order” means a written request or order signed
in the name of the Company by any two Officers.

 

“Corporate
Trust Office” means the office of the Trustee at which at any particular
time its corporate trust business shall be principally administered, which
office, as at the date of this Indenture, is located at 525 William Penn Place,
38th Floor, Pittsburgh, Pennsylvania 15259, Attention: Corporate Trust
Administration, or such other address as the Trustee may designate from time to
time by notice to the Holders and the Company.

 

2

 

The
term “corporation” includes corporations, associations, companies
(including limited liability companies), limited and general partnerships and
business trusts.

 

The
terms “covenant defeasance” and “defeasance” bear the meanings
assigned to such terms, respectively, by Sections 11.4 and 11.3.

 

The
term “default”, when used in Section 8.2, has the meaning
specified in Section 8.2.

 

“Defaulted
Interest” has the meaning specified in Section 2.7(b).

 

“Depository”
means, with respect to the Securities of any series issuable or issued in whole
or in part in the form of one or more Global Securities, the Person designated
as Depository for such series by the Company pursuant to Section 2.1(b)(15),
which Person shall be a clearing agency registered under the Exchange Act; and
if at any time there is more than one such Person, “Depository” as used with
respect to the Securities of any series shall mean the Depository with respect
to the Securities of such series.

 

“Event
of Default” has the meaning specified in Section 7.1.

 

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

 

“Global
Security” or “Global Securities” means a Security or Securities, as
the case may be, evidencing all or part of a series of Securities, issued to
the Depository for such series or its nominee, and registered in the name of
such Depository or nominee.

 

“Holder”
means a Person in whose name a Security is registered in the Security Register.

 

“Indebtedness”
of any Person means indebtedness for borrowed money and indebtedness under
purchase money mortgages or other purchase money liens or conditional sales or
similar title retention agreements, in each case where such indebtedness has
been created, incurred, or assumed by such Person to the extent such
indebtedness would appear as a liability upon a balance sheet of such Person
prepared in accordance with generally accepted accounting principles,
guarantees by such Person of such indebtedness of others, and indebtedness for
borrowed money secured by any mortgage, pledge or other lien or encumbrance
upon property owned by such Person, even though such Person has not assumed or
become liable for the payment of such indebtedness.

 

“Indenture”
means this indenture agreement as originally executed or as it may from time to
time be supplemented or amended by one or more indentures supplemental hereto
entered into pursuant to the applicable provisions hereof and shall include the
terms of particular series of Securities established as contemplated by Section 2.1.

 

“interest”,
when used with respect to an Original Issue Discount Security which by its
terms bears interest only after Maturity, means interest payable after
Maturity.

 

3

 

“Interest
Payment Date”, when used with respect to any Security, means the Stated
Maturity of an installment of interest on such Security.

 

“Maturity”,
when used with respect to any Security, means the date on which the principal
of such Security or an installment of principal becomes due and payable as
therein or herein provided, whether at the Stated Maturity or by declaration of
acceleration, call for redemption or otherwise.

 

“Notice
of Default” has the meaning specified in Section 7.1.

 

“Officer”
means the Chairman of the Board of Directors, any Vice Chairman of the Board of
Directors, the Chief Executive Officer, the President, the Chief Financial
Officer, any Vice President, the Treasurer, the Secretary, the Clerk or the
Controller of the Company.

 

“Officers’
Certificate” means a certificate signed by any two Officers.  An Officers’ Certificate provided pursuant to
Section 5.5 shall be signed by the principal executive, financial
or accounting Officer of the Company.

 

“Opinion
of Counsel” means a written opinion of counsel, who may be counsel for the
Company (including an employee or officer of the Company or any of its
Affiliates) and who shall be reasonably acceptable to the Trustee (it being
agreed and acknowledged that Ropes & Gray LLP is acceptable to the
Trustee to provide such opinion).

 

“Original
Issue Discount Security” means any 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 7.2.

 

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

 

(i)            Securities theretofore canceled by the Trustee or
delivered to the Trustee for cancellation;

 

(ii)           Securities for whose payment or redemption money (or in
the case of payment by defeasance under Section 11.3, money, U.S.
Government Obligations or both) 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 Securities; provided
that, if such 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 provided  further, in the case of
payment by defeasance under Section 11.3, that all conditions
precedent to the application of such Section shall have been satisfied;
and

 

(iii)          Securities which have been paid pursuant to Section 2.6(c) or
in exchange for or in lieu of which other Securities have been authenticated
and delivered pursuant to this Indenture, other than any such Securities in
respect of which there shall have been

 

4

 

presented to the Trustee proof satisfactory
to it that such Securities are held by a bona fide purchaser in whose hands
such Securities are valid obligations of the Company;

 

provided, however,
that in determining whether the Holders of the requisite principal amount of
the Outstanding Securities have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, (i) the principal amount
of an Original Issue Discount Security that shall be deemed to be Outstanding
shall be the amount of the principal thereof that would be due and payable as
of the date of such determination upon acceleration of the Maturity thereof
pursuant to Section 7.2 and (ii) Securities owned by the
Company or any other obligor upon the 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 Securities which the Trustee knows to be so owned shall
be so disregarded.  Securities 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 independent right
so to act with respect to such Securities and that the pledgee is not the
Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor.

 

“Paying
Agent” means any Person authorized by the Company to pay the principal of
(and premium, if any) or interest on any Securities on behalf of the Company.

 

“Person”
means any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization or government or any
agency or political subdivision thereof.

 

“Place
of Payment”, when used with respect to the Securities of any series, means
the place or places where the principal of (and premium, if any) and interest
on the Securities of that series are payable as specified as contemplated by Section 2.1
or, if not so specified, New York, New York.

 

“Predecessor
Security” of any particular Security means every previous Security
evidencing all or a portion of the same debt as that evidenced by such
particular Security; and, for the purposes of this definition, any Security
authenticated and delivered under Section 2.6 in exchange for or in
lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Security.

 

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

 

“Redemption
Price”, when used with respect to any Security to be redeemed, means the
price at which it is to be redeemed pursuant to this Indenture.

 

“Regular
Record Date” for the interest payable on any Interest Payment Date on the
Securities of any series means the date specified for that purpose as
contemplated by Section 2.1.

 

“Responsible
Officer”, when used with respect to the Trustee, means any officer in the
Corporate Trust Office of the Trustee with direct responsibility for the
administration of this

 

5

 

Indenture
and also means, with respect to a particular corporate trust matter, any other
officer to whom such matter is referred because of such other officer’s
knowledge of and familiarity with the particular subject.

 

“Securities”
has the meaning stated in the first recital of this Indenture and more
particularly means any Securities of any series authenticated and delivered
under this Indenture.

 

“Security
Register” and “Security Registrar” have the respective meanings
specified in Section 2.5(a).

 

“Special
Record Date” for the payment of any Defaulted Interest means a date fixed
by the Trustee pursuant to Section 2.7(b).

 

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

 

“Subsidiary”
means (i) a corporation, a majority of whose Capital Stock with voting
power, under ordinary circumstances, to elect directors is, at the date of
determination, directly or indirectly owned by the Company, by one or more
Subsidiaries of the Company or by the Company and one or more Subsidiaries of
the Company, (ii) a partnership in which the Company or a Subsidiary of
the Company holds a majority interest in the equity capital or profits of such
partnership, or (iii) any other Person (other than a corporation or
partnership) in which the Company, a Subsidiary of the Company or the Company
and one or more Subsidiaries of the Company, directly or indirectly, at the
date of determination, has (x) at least a majority ownership interest or (y) the
power to elect or direct the election of a majority of the directors or other
governing body of such Person.

 

“Trust
Indenture Act” means the Trust Indenture Act of 1939 as in force at the
date as of which this Indenture was executed, except as provided in Section 10.5
and, to the extent required by any amendment thereto, the Trust Indenture Act
of 1939, as amended from time to time.

 

“Trustee”
means the Person named as the “Trustee” in the first paragraph of this instrument
until a successor Trustee shall have assumed such role pursuant to the
applicable provisions of this Indenture, and thereafter “Trustee” shall
mean or include each Person who is then a Trustee hereunder and, if at any time
there is more than one such Person, “Trustee” as used with respect to
the Securities of any series shall mean the Trustee with respect to Securities
of that series.

 

“U.S.
Government Obligation” has the meaning set forth in Section 11.5(a).

 

“Vice
President” means any vice president, whether or not designated by a number
or a word or words added before or after the title “vice president”.

 

6

 

Section 1.2.            Compliance
Certificates and Opinions.

 

(a)           Upon
any application or request by the Company to the Trustee to take any action
under any provision of this Indenture, the Company shall furnish to the Trustee
an Officers’ Certificate stating that all conditions precedent, if any,
provided for in this Indenture relating to the proposed action have been
complied with and an Opinion of Counsel stating that in the opinion of such
counsel all such conditions precedent, if any, have been complied with, except
that in the case of any such application or request as to which the furnishing
of such documents is specifically required by any provision of this Indenture
relating to such particular application or request, no additional certificate
or opinion need be furnished.

 

(b)           Every
certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (other than certificates provided pursuant to Section 5.5)
shall include:

 

(1)           a statement that each individual signing such certificate
or opinion has read such covenant or condition and the definitions herein relating
thereto;

 

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

 

(3)           a statement that, in the opinion of each such individual,
such individual has made such examination or investigation as is necessary to
enable such individual to express an informed opinion as to whether or not such
covenant or condition has been complied with; and

 

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

 

Section 1.3.            Form of
Documents Delivered to Trustee.

 

(a)           In
any case where several matters are required to be certified by, or covered by
an opinion of, any specified Person, it is not necessary that all such matters
be certified by, or covered by the opinion of, only one such Person, or that
they be so certified or covered by only one document, but one such Person may
certify or give an opinion with respect to some matters and one or more other
such Persons as to other matters, and any such Person may certify or give an
opinion as to such matters in one or more documents.

 

(b)           Any
certificate or opinion of any officer of the Company may be based, insofar as
it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which his certificate or opinion is based are
erroneous.  Any such certificate or
Opinion of Counsel may be based, insofar as it relates to factual matters, upon
a certificate or opinion of, or representations by, an officer or officers of
the Company stating that the information with respect to such factual matters
is in the possession of the Company, unless such counsel knows, or in the
exercise of reasonable care 

 

7

 

should know, that the certificate or opinion or
representations with respect to such matters are erroneous.

 

(c)           Where
any Person is required to make, give or execute two or more applications,
requests, consents, certificates, statements, opinions or other instruments
under this Indenture, they may, but need not, be consolidated and form one
instrument.

 

Section 1.4.            Acts
of Holders.

 

(a)           Any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders may be
embodied in and evidenced by one or more instruments of substantially similar
tenor signed by such Holders in person or by an agent duly appointed in
writing.  Except as herein otherwise
expressly provided, such action shall become effective when such instrument or
instruments are delivered to the Trustee and, where it is hereby expressly
required, to the Company.  Such
instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the “Act” of the Holders
signing such instrument or instruments. 
Proof of execution of any such instrument or of a writing appointing any
such agent shall be sufficient for any purpose of this Indenture and (subject
to Section 8.1) conclusive in favor of the Trustee and the Company,
if made in the manner provided in this Section.

 

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

 

(c)           The
ownership of Securities shall be proved by the Security Register.

 

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

 

(e)           The
Depository selected pursuant to subsection (b)(15) of Section 2.1,
as a Holder, may appoint agents and otherwise authorize participants to give or
take any request, demand, authorization, direction, notice, consent, waiver or
other action which a Holder is entitled to give or take hereunder.

 

(f)            [Reserved.]

 

8

 

Section 1.5.            Notices, Etc.,
to Trustee or Company.

 

Any
request, demand, authorization, direction, notice, consent, waiver or Act of
Holders or other document provided or permitted by this Indenture to be made,
given or furnished to, or filed with,

 

(1)           the Trustee by any Holder or the Company shall be
sufficient for every purpose hereunder if made, given, furnished or filed in
writing to or with the Trustee at its Corporate Trust Office, or

 

(2)           the Company by the Trustee or by any Holder shall be
sufficient for every purpose hereunder (unless otherwise herein expressly
provided) if in writing and mailed, first-class postage prepaid, to the Company
addressed to it at the address of its office specified in the first paragraph
of this instrument or at any other address previously furnished in writing to
the Trustee by the Company.

 

Section 1.6.            Notice
to Holders; Waiver.

 

(a)           Where
this Indenture provides for notice to Holders of any event, such notice shall
be sufficiently given (unless otherwise herein expressly provided) if in
writing and mailed, first-class postage prepaid, to each Holder affected by
such event, at such Holder’s address as it appears in the Security Register,
not later than the latest date, and not earlier than the earliest date,
prescribed for the giving of such notice. 
In any case where notice to Holders is given by mail, neither the
failure to mail such notice, nor any defect in any notice so mailed, to any
particular Holder shall affect the sufficiency of such notice with respect to
other Holders.  Where this Indenture
provides for notice in any manner, such notice may be waived in writing by the
Person entitled to receive such notice, either before or after the event, and
such waiver shall be the equivalent of such notice.  Waivers of notice by Holders shall be filed
with the Trustee, but such filing shall not be a condition precedent to the
validity of any action taken in reliance upon such waiver.

 

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

 

Section 1.7.            Conflict
with Trust Indenture Act.

 

If
any provision hereof limits, qualifies or conflicts with another provision hereof
which is required to be included in this Indenture by any of the provisions of
the Trust Indenture Act, such required provision shall control.  If any provision hereof limits, qualifies or
conflicts with the duties imposed by section 318(c) of the Trust Indenture
Act, such imposed duties shall control. 
If any provision of the Indenture limits, qualifies or conflicts with a
provision of the Trust Indenture Act that is required under the Trust Indenture
Act to be a part of and govern the Indenture, such provision of the Trust
Indenture Act shall control.  If any
provision of the Indenture modifies or excludes any provision of the Trust
Indenture Act that may be so modified 

 

9

 

or
excluded, the latter provision shall be deemed to apply to the Indenture as
such provision of the Trust Indenture Act is so modified or excluded, as the
case may be.

 

Section 1.8.            Effect
of Headings and Table of Contents.

 

The
Article and Section headings herein and the Table of Contents are for
convenience only and shall not affect the construction hereof.

 

Section 1.9.            Successors
and Assigns.

 

All
covenants and agreements in this Indenture by the Company shall bind its
successors and assigns, whether so expressed or not.

 

Section 1.10.          Separability
Clause.

 

In
case any provision in this Indenture or in the 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 1.11.          Benefits
of Indenture.

 

Nothing
in this Indenture or in the Securities, express or implied, shall give to any
Person, other than the parties hereto and their successors hereunder and the
Holders, any benefit or any legal or equitable right, remedy or claim under
this Indenture.

 

Section 1.12.          Governing
Law.

 

This
Indenture and the Securities shall be governed by and construed in accordance
with the laws of the State of New York, without giving effect to any choice of
law or conflict of law provision or rule that would cause the application
of the laws of any other jurisdiction.

 

Section 1.13.          Legal
Holidays.

 

In
any case where any Interest Payment Date, Redemption Date or Stated Maturity of
any Security shall not be a Business Day at any Place of Payment, then
(notwithstanding any other provision of this Indenture or of the Securities)
payment of interest or principal (and premium, if any) need not be made at such
Place of Payment on such date, 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
Interest Payment Date or Redemption Date, or at the Stated Maturity, provided
that no interest shall accrue on the amount then payable for the period from
and after such Interest Payment Date, Redemption Date or Stated Maturity, as
the case may be.

 

Section 1.14.          Waiver
of Jury Trial.

 

EACH
OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING ARISING OUT OF OR 

 

10

 

RELATING
TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY.

 

ARTICLE II

 

THE SECURITIES

 

Section 2.1.            Amount
Unlimited; Issuable in Series.

 

(a)           The
aggregate principal amount of Securities which may be authenticated and
delivered under this Indenture is unlimited.

 

(b)           The
Securities may be issued in one or more series. 
There shall be established in or pursuant to a Board Resolution, and
(subject to Section 2.3) set forth or determined as provided in an
Officers’ Certificate, or established in one or more indentures supplemental
hereto (with such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture, and with such
letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of
any securities exchange or as may, consistently herewith, be determined by the
Officers executing such Securities, as evidenced by their execution of such
Securities), prior to the issuance of Securities of any series:

 

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

 

(2)           any limit upon the aggregate principal amount of the
Securities of the series which may be authenticated and delivered under this
Indenture (except for Securities authenticated and delivered upon registration
of transfer of, or in exchange for, or in lieu of, other Securities of the
series pursuant to Section 2.4, 2.5, 2.6, 3.7
or 10.6 and except for any Securities which, pursuant to Section 2.3,
are deemed never to have been authenticated and delivered hereunder);

 

(3)           the Person to whom any interest on a Security of the
series shall be payable, if other than the Person in whose name that Security
(or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest;

 

(4)           the date or dates on which the principal of the Securities
of the series is payable and/or the method by which such date or dates shall be
determined;

 

(5)           the rate or rates (or method for establishing the rate or
rates) at which the Securities of the series shall bear interest, if any, the
date or dates from which such interest shall accrue, the Interest Payment Dates
on which such interest shall be payable and the Regular Record Date for the
interest payable on any Interest Payment Date (or method for establishing such
date or dates);

 

11

 

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

 

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

 

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

 

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

 

(10)                            if other than
the full principal amount thereof, the portion of the principal amount of
Securities of the series which shall be payable upon declaration of
acceleration of the Maturity thereof pursuant to Section 7.2 or the
method by which such portion shall be determined;

 

(11)                            if other than
such currency of the United States of America as at the time of payment is
legal tender for payment of public or private debts, the currency or currencies
(including composite currencies) in which payment of the principal of (and
premium, if any) and/or interest on the Securities of the series shall be
payable;

 

(12)                            if the
principal of (and premium, if any) and/or interest on the Securities of the
series are to be payable, at the election of the Company or any Holder, in a
currency or currencies (including composite currencies) other than that in
which the Securities are stated to be payable, the period or periods within
which, and the terms and conditions, upon which, such election may be made;

 

(13)                            if the amounts
of payments of principal of (and premium, if any) and/or interest on the
Securities of the series may be determined with reference to an index, the
manner in which such amounts shall be determined;

 

(14)                            in the case of
Securities of a series the terms of which are not established pursuant to subsection
(11), (12) or (13) above, whether either or both of Section 11.3
or Section 11.4 shall not be applicable to the Securities of such
series; or, in the case of Securities the terms of which are established
pursuant to subsection (11), (12) or (13) above, the
adoption and applicability, if any, to such Securities of any terms and
conditions similar to those contained in Section 11.3 and/or Section 11.4;

 

(15)                            whether the
Securities of the series shall be issued in whole or in part in the form of one
or more Global Securities and, in such case, the Depository for such Global
Security or Global Securities;

 

12

 

(16)                            any additional
or different events of default that apply to Securities of the series, and any
change in the right of the Trustee or the Holders of such Securities to declare
the principal thereof due and payable;

 

(17)                            any additional
or different covenants that apply to Securities of the series;

 

(18)                            the form of the
Securities of the series; and

 

(19)                            any other terms
of the series (which terms shall not contradict the provisions of this Indenture).

 

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

 

(d)                                 All Securities of any one
series shall be substantially identical except as to interest rates, method for
determining interest rates, Interest Payment Dates, Regular Record Dates,
redemption terms, Stated Maturity, denomination, date of authentication,
currency, any index for determining amounts payable, and except as may
otherwise be provided in or pursuant to such Board Resolution and set forth or
determined as provided in such Officers’ Certificate or in any indenture
supplemental hereto.

 

(e)                                  If any of the terms of the
series are established by action taken pursuant to a Board Resolution, a copy
of an appropriate record of such action shall be certified by the Secretary or
an Assistant Secretary of the Company and delivered to the Trustee at or prior
to the delivery of the Officers’ Certificate setting forth the terms of the
series.  With respect to Securities of a
series constituting a medium term note program, such Board Resolution may
provide general terms or parameters for Securities of such series and may
provide that the specific terms of particular Securities of such series, and
the Persons authorized to determine such terms or parameters, may be determined
in accordance with or pursuant to the Company Order referred to in Section 2.3.

 

Section 2.2.                                   Denominations.

 

The
Securities of each series shall be issuable in registered form without coupons
in such denominations as shall be specified as contemplated by Section 2.1.  In the absence of any such provisions with
respect to the Securities of any series, the Securities of such series shall be
issuable in denominations of $1,000 and any integral multiple thereof.

 

Section 2.3.                                   Execution, Authentication,
Delivery and Dating.

 

(a)                                  The Securities shall be
executed on behalf of the Company by any Officer and attested by its Secretary
or one of its Assistant Secretaries.  The
signature of any of these Officers on the Securities may be manual or
facsimile.

 

(b)                                 Securities bearing the
manual or facsimile signatures of individuals who were at any time the proper
Officers of the Company shall bind the Company, notwithstanding that such 

 

13

 

individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of such Securities or did not
hold such offices at the date of such Securities.

 

(c)                                  At any time and from time to
time after the execution and delivery of this Indenture, the Company may
deliver Securities of any series executed on behalf of the Company pursuant to clause
(a) above to the Trustee for authentication, together with a Company
Order for the authentication and delivery of such Securities, and the Trustee
in accordance with such Company Order shall authenticate and deliver such
Securities; provided, that, with respect to Securities of a series
constituting a medium term note program, the Trustee shall authenticate and
deliver Securities of such series for original issue from time to time in the
aggregate principal amount established for such series pursuant to such
procedures acceptable to the Trustee and to such recipients as may be specified
from time to time by a Company Order. 
The maturity dates, original issue dates, interest rates and any other
terms of the Securities of such series shall be determined by or pursuant to
such Company Order and procedures.

 

(d)                                 The Trustee’s certificates
of authentication shall be in substantially the following form:

 

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

 

	
   

  	
   

  	
  The
  Bank of New York Mellon Trust Company, N.A.,

  
	
   

  	
   

  	
  as
  Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Authorized
  Signatory

  
	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
   

  
					

 

(e)                                  If the form or terms of the
Securities of the series have been established in or pursuant to one or more
Board Resolutions as permitted by Section 2.1, in authenticating
such Securities, and accepting the additional responsibilities under this
Indenture in relation to such Securities, the Trustee shall receive, and
(subject to Section 8.1) shall be fully protected in relying upon,
an Opinion of Counsel stating,

 

(1)                                  if the form of
any of such Securities has been established by or pursuant to Board Resolution
as permitted by Section 2.1, that such form has been established in
conformity with the provisions of this Indenture;

 

(2)                                  if the terms of
any of such Securities have been established by or pursuant to Board Resolution
as permitted by Section 2.1, that such terms have been established
in conformity with the provisions of this Indenture; and

 

(3)                                  that such
Securities, when authenticated and delivered by the Trustee and issued by the
Company in the manner and subject to any conditions specified in such 

 

14

 

Opinion of Counsel, will constitute valid and
legally binding obligations of the Company, enforceable in accordance with
their respective terms, subject to bankruptcy, insolvency, reorganization and
other laws of general applicability relating to or affecting the enforcement of
creditors’ rights and to general equity principles.

 

(f)                                    Notwithstanding that such
form or terms have been so established, the Trustee shall not be required to
authenticate such Securities if the issue of such Securities pursuant to this
Indenture would adversely affect the Trustee’s own rights, duties or immunities
under the Securities and this Indenture or otherwise in a manner which is not
reasonably acceptable to the Trustee.

 

(g)                                 [Reserved.]

 

(h)                                 With respect to Securities
of a series constituting a medium term note program, if the form and general
terms of the Securities of such series have been established by or pursuant to
one or more Board Resolutions or by an indenture supplemental hereto, as
permitted by Section 2.1 in authenticating such Securities, and
accepting the additional responsibilities under this Indenture in relation to
such Securities, the Trustee shall receive, and (subject to Section 8.1)
shall be fully protected in relying upon, in addition to the foregoing
documents and Opinion of Counsel, or in lieu of clause (e) above,
an Opinion of Counsel stating that the Securities have been duly authorized by
the Company and, when duly executed by the Company and completed and
authenticated by the Trustee in accordance with the Indenture and issued,
delivered and paid for in accordance with any applicable distribution
agreement, will have been duly issued under the Indenture and will constitute
valid and binding obligations of the Company, enforceable in accordance with
their respective terms, subject to bankruptcy, insolvency, reorganization and
other laws of general applicability relating to or affecting the enforcement of
creditors’ rights and to general equity principles.

 

(i)                                     Each Security shall be dated
the date of its authentication.

 

(j)                                     No Security shall be
entitled to any benefit under this Indenture or be valid or obligatory for any
purpose unless there appears on such Security a certificate of authentication
substantially in the form provided for herein executed by the Trustee by manual
signature, and such certificate upon any Security shall be conclusive evidence,
and the only evidence, that such Security has been duly authenticated and
delivered hereunder and is entitled to the benefits of this Indenture.  Notwithstanding the foregoing, if any
Security shall have been authenticated and delivered hereunder but never issued
and sold by the Company, and the Company shall deliver such Security to the
Trustee for cancellation as provided in Section 2.9 together with a
written statement (which need not comply with Section 1.2 and need
not be accompanied by an Opinion of Counsel) stating that such Security has
never been issued and sold by the Company, for all purposes of this Indenture
such Security shall be deemed never to have been authenticated and delivered
hereunder and shall never be entitled to the benefits of this Indenture.

 

15

 

Section 2.4.                                   Temporary Securities.

 

(a)                                  Pending the preparation of
definitive Securities of any series, the Company may execute, and upon Company
Order from the Company, the Trustee shall authenticate and deliver, temporary
Securities which are printed, lithographed, typewritten, mimeographed or
otherwise produced, in any authorized denomination, substantially of the tenor
of the definitive Securities in lieu of which they are issued, with such
appropriate insertions, omissions, substitutions and other variations as the
Officers executing such Securities may determine, as evidenced by their
execution of such Securities.

 

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

 

Section 2.5.                                   Registration; Registration
of Transfer and Exchange.

 

(a)                                  The Company shall cause to
be kept at the Corporate Trust Office of the Trustee a register (the register
maintained in such office and in any other office or agency of the Company in a
Place of Payment being herein sometimes collectively referred to as the “Security
Register”) in which, subject to such reasonable regulations as it may
prescribe, the Company shall provide for the registration of Securities and of
transfers of Securities.  The Trustee is
hereby appointed “Security Registrar” for the purpose of registering
Securities and transfers of Securities as herein provided.

 

(b)                                 Upon surrender for
registration of transfer of any Security of any series at an office or agency
of the Company in a Place of Payment designated by the Company pursuant to Section 5.2
for that series, the Company shall execute, and the Trustee shall authenticate
and deliver, in the name of the designated transferee or transferees, one or
more new Securities of the same series, of any authorized denominations and of
a like aggregate principal amount and tenor.

 

(c)                                  At the option of the Holder,
Securities of any series may be exchanged for other Securities of the same
series of any authorized denominations and of a like aggregate principal amount
and tenor, upon surrender of the Securities to be exchanged at such office or agency.  Whenever any Securities are so surrendered
for exchange, the Company shall execute, and the Trustee shall authenticate and
deliver, the Securities which the Holder making the exchange is entitled to
receive.

 

16

 

(d)                                 All Securities issued upon
any registration of transfer or exchange of Securities shall be the valid
obligations of the Company, evidencing the same debt, and entitled to the same
benefits under this Indenture, as the Securities surrendered upon such
registration of transfer or exchange.

 

(e)                                  Every Security presented or
surrendered for registration of transfer or for exchange shall (if so required
by the Company or the Trustee) be duly endorsed, or be accompanied by a written
instrument of transfer, in form satisfactory to the Company and the Security
Registrar, duly executed by the Holder thereof or his attorney duly authorized
in writing.

 

(f)                                    No service charge shall be
made for any registration of transfer or for exchange of Securities, but the
Company or the Trustee may require payment of a sum sufficient to cover any tax
or other governmental charge that may be imposed in connection with any
registration of transfer or exchange of Securities, other than exchanges
pursuant to Section 2.4, 2.5(h), 3.7 or 10.6
not involving any transfer.

 

(g)                                 The Company shall not be
required (i) to issue, register the transfer of or exchange Securities of
any series during a period beginning at the opening of business 15 days before
the day of the mailing of a notice of redemption of Securities of that series
selected for redemption under Section 3.3 and ending at the close
of business on the day of such mailing, or (ii) to register the transfer
of or exchange any Security so selected for redemption in whole or in part,
except the unredeemed portion of any Security being redeemed in part.

 

(h)                                 Notwithstanding the
foregoing, any Global Security shall be exchangeable pursuant to this Section 2.5
for Securities registered in the names of Persons other than the Depository for
such Security or its nominee only if (i) such Depository notifies the
Company that it is unwilling or unable to continue as Depository for such
Global Security or such Depository ceases to be a clearing agency registered
under the Exchange Act, (ii) the Company executes and delivers to the
Trustee a Company Order that such Global Security shall be so exchangeable or (iii) there
shall have occurred and be continuing an Event of Default of which the Trustee
has been notified with respect to the Securities.  Any Global Security that is exchangeable
pursuant to the preceding sentence shall be exchangeable for Securities
registered in such names as the Depository shall direct in writing in an
aggregate principal amount equal to the principal amount of the Global Security
with like tenor and terms.

 

(i)                                     Notwithstanding any other
provision in this Indenture, but subject to exchanges under clause (h) above,
a Global Security may not be transferred except as a whole by the Depository
with respect to such Global Security to a nominee of such Depository or by a
nominee of such Depository to such Depository or another nominee of such
Depository.

 

Section 2.6.                                   Mutilated, Destroyed, Lost
and Stolen Securities.

 

(a)                                  If any mutilated Security is
surrendered to the Trustee, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor a new Security of the same 

 

17

 

series and of like tenor and principal amount, and
bearing a number not contemporaneously outstanding.

 

(b)                                 If there shall be delivered
to the Company and the Trustee (i) evidence to their satisfaction of the
destruction, loss or theft of any Security and (ii) such security or
indemnity as may be required by them to save each of them and any agent of any
of them harmless, then, in the absence of notice to the Company or the Trustee
that such Security has been acquired by a bona fide purchaser, the Company
shall execute and upon its request the Trustee shall authenticate and deliver,
in lieu of any such destroyed, lost or stolen Security, a new Security of the
same series and of like tenor and principal amount, and bearing a number not
contemporaneously outstanding.

 

(c)                                  In case any such mutilated,
destroyed, lost or stolen Security has become or is about to become due and
payable, the Company in its discretion may, instead of issuing a new Security,
pay such Security.

 

(d)                                 Upon the issuance of any new
Security under this Section, the Company or the Trustee may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses (including the fees and
expenses of the Trustee and its counsel) connected therewith.

 

(e)                                  Every new Security of any
series issued pursuant to this Section in lieu of any destroyed, lost or
stolen Security shall constitute an original additional contractual obligation
of the Company, whether or not the destroyed, lost or stolen Security shall be
at any time enforceable by anyone, and shall be entitled to all the benefits of
this Indenture equally and proportionately with any and all other Securities of
that series duly issued hereunder.

 

(f)                                    The provisions of this Section are
exclusive and shall preclude (to the extent lawful) all other rights and
remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities.

 

Section 2.7.                                   Payment of Interest;
Interest Rights Preserved.

 

(a)                                  Unless otherwise provided as
contemplated by Section 2.1 with respect to any series of
Securities, interest on any Security which is payable, and is punctually paid
or duly provided for, on any Interest Payment Date shall be paid to the Person
in whose name that Security (or one or more Predecessor Securities) is registered
at the close of business on the Regular Record Date for such interest.

 

(b)                                 Any interest on any Security
of any series which is payable, but is not punctually paid or duly provided
for, on any Interest Payment Date (herein called “Defaulted Interest”)
shall forthwith cease to be payable to the Holder entitled to such interest 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 (1) or
(2) below:

 

(1)                                  The Company may
elect to make payment of any Defaulted Interest to the Persons in whose names
the Securities of such series (or their respective Predecessor 

 

18

 

Securities) are registered at the close of
business on a Special Record Date (as defined below) 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
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 (the “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 prepaid, to each Holder of Securities of such series at his
address as it appears in the Security Register, not less than 10 days prior to
such Special Record Date.  Notice of the
proposed payment of such Defaulted Interest and the Special Record Date
therefor having been so mailed, such Defaulted Interest shall be paid to the
Persons in whose names the Securities of such series (or their respective
Predecessor Securities) are registered at the close of business on such Special
Record Date and shall no longer be payable pursuant to the following clause
(2).

 

(2)                                  The Company may
elect to make payment of any Defaulted Interest on the Securities of any series
in any other lawful manner not inconsistent with the requirements of any
securities exchange on which such Securities 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.

 

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

 

Section 2.8.                                   Persons Deemed Owners.

 

Prior
to due presentment of a Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee, including a Paying Agent,
may treat the Person in whose name such Security is registered as the owner of
such Security for the purpose of receiving payment of principal of (and
premium, if any) and (subject to Section 2.7) interest on such
Security and for all other purposes whatsoever, whether or not such Security be
overdue, and neither the Company, the Trustee nor any agent of the Company or
the Trustee, including a Paying Agent, shall be affected by notice to the
contrary.

 

19

 

Section 2.9.                                   Cancellation.

 

All
Securities surrendered for payment, redemption, registration of transfer or
exchange or for credit against any sinking fund payment shall, if surrendered
to any Person other than the Trustee, be delivered to the Trustee and shall be
promptly canceled by it.  The Company may
at any time deliver to the Trustee for cancellation any Securities previously
authenticated and delivered hereunder which the Company may have acquired in
any manner whatsoever, and may deliver to the Trustee (or to any other Person
for delivery to the Trustee) for cancellation any Securities previously
authenticated hereunder which the Company has not issued and sold and all
Securities so delivered shall be promptly canceled by the Trustee.  No Securities shall be authenticated in lieu
of or in exchange for any Securities canceled as provided in this Section,
except as expressly permitted by this Indenture.  All canceled Securities held by the Trustee
shall be disposed of as directed by a Company Order from the Company.

 

Section 2.10.                             Computation of Interest.

 

Except
as otherwise specified as contemplated by Section 2.1 for Securities of
any series, interest on the Securities of each series shall be computed on the
basis of a 360-day year of twelve 30-day months.

 

Section 2.11.                             CUSIP Numbers.

 

The
Company in issuing the 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 correctness of such numbers
either as printed on the 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 Securities, and any such redemption 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 SECURITIES

 

Section 3.1.                                   Applicability of Article.

 

Securities
of any series which are redeemable before their Stated Maturity shall be
redeemable in accordance with their terms and (except as otherwise specified as
contemplated by Section 2.1 for Securities of any series) in
accordance with this Article.

Section 3.2.                                   Election to
Redeem; Notice to Trustee.

 

The
election of the Company to redeem any Securities shall be evidenced by a Board
Resolution.  In case of any redemption at
the election of the Company of less than all the Securities of like tenor of
any series, the Company shall, at least 45 days prior to the Redemption 

 

20

 

Date
fixed by the Company (unless a shorter notice shall be satisfactory to the
Trustee), notify the Trustee of such Redemption Date and of the principal
amount of Securities of such series to be redeemed.  Any such notice may be cancelled at any time
prior to notice of such redemption being mailed to any Holder and shall thereby
be void and of no effect.  In the case of
any redemption of Securities prior to the expiration of any restriction on such
redemption provided in the terms of such Securities or elsewhere in this Indenture,
the Company shall furnish the Trustee with an Officers’ Certificate evidencing
compliance with such restriction.

 

Section 3.3.                                   Selection by Trustee of
Securities to Be Redeemed.

 

(a)                                  If less than all the
Securities of like tenor of any series are to be redeemed, the particular
securities to be redeemed shall be selected by the Trustee from the Outstanding
Securities of like tenor of such series not previously called for redemption,
by lot or any other such method as the Trustee shall deem fair and appropriate
and which may provide for the selection for redemption of portions (equal to
the minimum authorized denomination for Securities of that series or any
integral multiple thereof) of the principal amount of such Securities of a
denomination larger than the minimum authorized denomination for such
Securities.

 

(b)                                 The Trustee shall promptly
notify the Company in writing of the Securities selected for redemption and, in
the case of any Securities selected for partial redemption, the principal
amount thereof to be redeemed.

 

(c)                                  For all purposes of this
Indenture, unless the context otherwise requires, all provisions relating to
the redemption of Securities shall relate, in the case of any Securities
redeemed or to be redeemed only in part, to the portion of the principal amount
of such Securities which has been or is to be redeemed.

 

Section 3.4.                                   Notice of Redemption.

 

(a)                                  Unless otherwise indicated
for a particular series of Securities by Board Resolution, a supplemental
indenture hereto or an Officers’ Certificate, notice of redemption shall be
given by first-class mail, postage prepaid, mailed not less than 30 nor more
than 60 days prior to the Redemption Date, to each Holder of Securities to be
redeemed, at such Holder’s address appearing in the Security Register.

 

Such
notice of redemption shall state:

 

(1)                                  the Redemption
Date,

 

(2)                                  the Redemption
Price,

 

(3)                                  if less than
all the Outstanding Securities of like tenor of any series are to be redeemed,
the identification (and, in the case of partial redemption, the principal
amounts) of the particular Securities to be redeemed,

 

21

 

(4)                                  in case any
Security is to be redeemed in part only, the notice which relates to such
Security shall state that on and after the Redemption Date, upon surrender of
such Security, the Holder of such Security will receive, without charge, a new
Security or Securities of authorized denominations for the principal amount
thereof remaining unredeemed,

 

(5)                                  that on the
Redemption Date the Redemption Price will become due and payable upon each such
Security to be redeemed and, if applicable, that interest thereon will cease to
accrue on and after such date,

 

(6)                                  the CUSIP
number and/or similar numbers of such Securities, if any (or any other numbers
used by a Depository to identify such Securities),

 

(7)                                  the place or
places where such Securities are to be surrendered for payment of the
Redemption Price, and

 

(8)                                  that the
redemption is for a sinking fund, if such is the case.

 

(b)                                 Any such notice of
redemption of Securities to be redeemed at the election of the Company shall be
given by the Company or, at the Company’s request, by the Trustee in the name
and at the expense of the Company.

 

Section 3.5.                                   Deposit of Redemption Price.

 

At
least one Business Day prior to any Redemption Date, the Company shall deposit
with the Trustee or with a Paying Agent (or, if the Company is acting as its
own Paying Agent, the Company shall segregate and hold in trust as provided in Section 5.3)
an amount of money sufficient to pay the Redemption Price of, and (except if
the Redemption Date shall be an Interest Payment Date) accrued interest on, all
the Securities which are to be redeemed on that date.

 

Section 3.6.                                   Securities Payable on
Redemption Date.

 

(a)                                  Notice of redemption having
been given as aforesaid, the Securities so to be redeemed shall, on the
Redemption Date, become due and payable at the Redemption Price therein
specified and, from and after such date (unless the Company shall default in
the payment of the Redemption Price and accrued interest) such Securities shall
cease to bear interest.  Upon surrender
of any such Security for redemption in accordance with such notice, such
Security shall be paid by the Company at the Redemption Price, together with
accrued interest to the Redemption Date; provided, however, that
installments of interest whose Stated Maturity is on or prior to the Redemption
Date shall be payable to the Holders of such Securities, or one or more
Predecessor Securities, registered as such at the close of business on the
relevant Record Dates according to their terms and the provisions of Section 2.7.

 

(b)                                 If any Security called for
redemption shall not be so paid upon surrender thereof for redemption, the
principal (and premium, if any) shall, until paid, bear interest from the
Redemption Date at the rate prescribed therefor in the Security.

 

22

 

Section 3.7.                                   Securities Redeemed in Part.

 

Any
Security which is to be redeemed only in part shall be surrendered at a Place
of Payment therefor (with, if the Company or the Trustee so requires, due
endorsement by, or a written instrument of transfer in form satisfactory to the
Company and the Trustee duly executed by, the Holder thereof or such Holder’s
attorney duly authorized in writing). 
The Company shall execute, and the Trustee shall authenticate and deliver
to the Holder of such Security without service charge, a new Security or
Securities of the same series and of like tenor, 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 Security so
surrendered.

 

ARTICLE IV

 

SINKING FUNDS

 

Section 4.1.                                   Applicability of Article.

 

(a)                                  The provisions of this Article shall
be applicable to any sinking fund for the retirement of Securities of a series
permitted by the applicable supplemental indenture except as otherwise
specified in accordance with Section 2.1 for Securities of such
series.

 

(b)                                 The minimum amount of any
sinking fund payment provided for by the terms of Securities of any series 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
Securities of any series is herein referred to as an “optional sinking fund
payment”.  If provided for by the
terms of Securities of any series, the cash amount of any sinking fund payment
may be subject to reduction as provided in Section 4.2.  Each sinking fund payment shall be applied to
the redemption of Securities of any series as provided for by the terms of
Securities of such series.

 

Section 4.2.                                   Satisfaction of Sinking Fund
Payments with Securities.

 

The
Company (1) may deliver Outstanding Securities of a series (other than any
previously called for redemption) and (2) may apply as a credit Securities
of a series which have been redeemed either at the election of the Company
pursuant to the terms of such Securities or through the application of
permitted optional sinking fund payments pursuant to the terms of such
Securities, in each case in satisfaction of all or any part of any sinking fund
payment with respect to the Securities of such series required to be made
pursuant to the terms of such Securities as provided for by the terms of such
series; provided that such Securities have not been previously so
credited.  Such Securities shall be
received and credited for such purpose by the Trustee at the Redemption Price
specified in such Securities for redemption through operation of the sinking
fund and the amount of such sinking fund payment shall be reduced accordingly.

 

Section 4.3.                                   Redemption of Securities for
Sinking Fund.

 

Not
less than 60 days prior to each sinking fund payment date for any series of
Securities, the Company will deliver to the Trustee an Officers’ Certificate
specifying the amount of the

 

23

 

next
ensuing sinking fund payment for that series pursuant to the terms of that
series, 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 Securities of that series pursuant to Section 4.2 and will
also deliver to the Trustee any such Securities.  Not less than 30 days before each such
sinking fund payment date the Trustee shall select the Securities to be
redeemed upon such sinking fund payment date in the manner specified in Section 3.3
and cause notice of the redemption, prepared by the Company, thereof to be
given in the name of and at the expense of the Company in the manner provided
in Section 3.4.  Such notice having
been duly given, the redemption of such Securities shall be made upon the terms
and in the manner stated in Sections 3.6 and 3.7.

 

ARTICLE V

 

COVENANTS

 

Section 5.1.                                   Payment of Principal,
Premium and Interest.

 

(a)                                  The Company covenants and
agrees for the benefit of each series of Securities that it will duly and
punctually pay the principal of (and premium, if any) and interest on the
Securities of that series in accordance with the terms of the Securities and
this Indenture.

 

(b)                                 An installment of principal
or interest shall be considered paid on the date it is due if the Trustee or
Paying Agent holds on that date money designated for and sufficient to pay such
installment and is not prohibited from paying such money to the Holders
pursuant to the terms of this Indenture or otherwise.

 

Section 5.2.                                   Maintenance of Office or
Agency.

 

(a)                                  The Company will maintain in
each Place of Payment for any series of Securities an office or agency where
Securities of that series may be presented or surrendered for payment, where
Securities of that series may be surrendered for registration of transfer or
exchange and where notices and demands to or upon the Company in respect of the
Securities of that 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 Corporate Trust Office of the Trustee,
and the Company hereby appoints the Trustee as its agent to receive all such
presentations, surrenders, notices and demands.

 

(b)                                 The Company may also from
time to time designate one or more other offices or agencies where the
Securities of one or more series may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner
relieve the Company of its obligation to maintain an office or agency in each
Place of Payment for Securities of any series for such purposes.  The Company will give prompt written notice
to the Trustee of any such designation or rescission and of any change in the
location of any such other office or agency.

 

24

 

Section 5.3.                                   Money for Securities
Payments to Be Held in Trust.

 

(a)                                  If the Company shall at any
time act as its own Paying Agent with respect to any series of Securities, it
will, on or before each due date of the principal of (and premium, if any) or
interest on any of the Securities of that series, segregate and hold in trust
for the benefit of the Persons entitled thereto a sum sufficient to pay the
principal (and premium, if any) or interest so becoming due until such sums
shall be paid to such Persons or otherwise disposed of as herein provided and
will promptly notify the Trustee of its failure so to act.

 

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

 

(c)                                  The Company will cause each
Paying Agent for any series of Securities other than the Trustee or the Company
to execute and deliver to the Trustee an instrument in which such Paying Agent
shall agree with the Trustee, subject to the provisions of this Section, that
such Paying Agent will:

 

(1)                                  hold all sums
held by it for the payment of the principal of (and premium, if any) or
interest on Securities of that series in trust for the benefit of the Persons
entitled thereto until such sums shall be paid to such Persons or otherwise
disposed of as herein provided;

 

(2)                                  give the
Trustee notice of any default by the Company (or any other obligor upon the
Securities of that series) in the making of any payment of principal (and
premium, if any) or interest on the Securities of that series; and

 

(3)                                  at any time
during the continuance of any such default, upon the written request of the
Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying
Agent.

 

(d)                                 The Company may at any time,
for the purpose of obtaining the satisfaction and discharge of this Indenture
or for any other purpose, pay, or by Company Order, direct any Paying Agent to
pay, to the Trustee all sums held in trust by the Company or such Paying Agent,
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.  Upon such payment by any Paying Agent to the
Trustee, such Paying Agent shall be released from all further liability with
respect to such money.

 

(e)                                  Any money deposited with the
Trustee or any Paying Agent, or then held by the Company in trust, for the
payment of the principal of (and premium, if any) or interest on any Security
of any series, and remaining unclaimed for two years after such principal (and
premium, if any) or interest has become due and payable shall be paid to the
Company on Company Request or (if then held by the Company) shall be discharged
from such trust.  Thereafter the

 

25

 

Holder of such Security shall, as an unsecured
general creditor, look only to the Company for payment thereof, and all
liability of the Trustee or such Paying Agent with respect to such trust money,
and all liability of the Company as trustee thereof, shall thereupon cease.

 

Section 5.4.                                   Corporate Existence.

 

Subject
to Article VI, the Company will do or cause to be done all things
necessary to preserve and keep in full force and effect its corporate
existence, rights (charter and statutory) and franchises; provided, however,
that the Company shall not be required to preserve any such right or franchise
if the Company shall determine that the preservation thereof is no longer
desirable in the conduct of the business of the Company and that the loss
thereof is not disadvantageous in a material respect to the Holders.

 

Section 5.5.                                   Statement by Officers as to
Default.

 

The
Company will deliver to the Trustee, within 120 days after the end of each
fiscal year of the Company ending after the date hereof, an Officers’
Certificate stating whether or not to the knowledge of the signers thereof the
Company is in default in the performance and observance of any of the terms,
provisions and conditions applicable to the Company and, if the Company shall
be in default, specifying all such defaults and the nature and status thereof
of which they may have knowledge.  If any
default or Event of Default under clauses (4), (5), (6),  (7) or
(8) of Section 7.1 has occurred and is continuing,
within 10 Business Days after its becoming aware of such occurrence, the
Company shall deliver to the Trustee an Officers’ Certificate specifying such
event and what action the Company is taking or proposes to take with respect
thereto.

 

ARTICLE VI

 

CONSOLIDATION, MERGER,
CONVEYANCE, TRANSFER OR LEASE

 

Section 6.1.                                   Company May Consolidate, Etc.,
Only on Certain Terms.

 

The
Company shall not consolidate with or merge into any other corporation or
convey, transfer or lease its properties and assets substantially as an
entirety to any Person, and the Company shall not permit any Person to
consolidate with or merge into the Company, unless:

 

(1)                                  in case the
Company shall consolidate with or merge into another corporation or convey,
transfer or lease its properties and assets substantially as an entirety to any
Person, the corporation formed by such consolidation or into which the Company
is merged or the Person which acquires by conveyance or transfer, or which
leases, the properties and assets of the Company substantially as an entirety
shall be a corporation organized and existing under the laws of the United
States of America, any State thereof or the District of Columbia and shall
expressly assume, by an indenture supplemental hereto, executed and delivered
to the Trustee, in form reasonably satisfactory to the Trustee, the due and
punctual payment of the principal of (and premium, if any) and interest on all
the Securities and the performance and observance of every covenant of this
Indenture on the part of the Company to be performed or observed;

 

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(2)                                  immediately
after giving effect to such transaction and treating any Indebtedness which
becomes an obligation of the Company or a Subsidiary as a result of such
transaction as having been incurred by the Company or such Subsidiary at the
time of such transaction, no Event of Default, and no event which, after notice
or lapse of time or both, would become an Event of Default, shall have occurred
and be continuing; and

 

(3)                                  the Company has
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that such consolidation, merger, conveyance, transfer or lease
and, if a supplemental indenture is required in connection with such
transaction, such supplemental indenture complies with this Article and
that all conditions precedent herein provided for relating to such transaction
have been complied with.

 

Section 6.2.                                   Successor Substituted.

 

Upon
any consolidation by the Company with or merger by the Company into any other
corporation or any conveyance, transfer or lease of the properties and assets
of the Company substantially as an entirety in accordance with Section 6.1,
the successor corporation formed by such consolidation or into which the
Company is merged or the Person to which such conveyance, transfer or lease is
made shall succeed to, and be substituted for, and may exercise every right and
power of, the Company under this Indenture with the same effect as if such
successor Person had been named as the Company herein, and thereafter, except
in the case of a lease, the predecessor Person shall be relieved of all
obligations and covenants under this Indenture and the Securities.

 

ARTICLE VII

 

REMEDIES

 

Section 7.1.                                   Events of Default.

 

“Event of Default”, wherever used herein with respect to
Securities of any series, means any one of the following events (whatever the
reason for such Event of Default and whether it shall be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

 

(1)                                  default in the
payment of any interest upon any Security of that series when it becomes due
and payable, and continuance of such default for a period of 30 days; or

 

(2)                                  default in the
payment of the principal of (or premium, if any, on) any Security of that
series at its Maturity; or

 

(3)                                  default in the
deposit of any sinking fund payment, when and as due by the terms of a Security
of that series; or

 

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(4)                                  default in the
performance, or breach, of any covenant or warranty of the Company in this
Indenture (other than a covenant or warranty a default in whose performance or
whose breach is elsewhere in this Section specifically dealt with or which
has expressly been included in this Indenture solely for the benefit of a
series of Securities other than the series in respect of which the Event of
Default is being determined), and continuance of such default or breach for a
period of 60 days after there has been given, by registered or certified mail,
to the Company by the Trustee or to the Company and the Trustee by the Holders
of at least 25% in principal amount of the Outstanding Securities of that
series a written notice specifying such default or breach and requiring it to
be remedied and stating that such notice is a “Notice of Default”
hereunder; or

 

(5)                                  a default under
any bond, debenture, note or other evidence of or agreement for Indebtedness by
the Company (including a default with respect to Securities of any series other
than that series) or 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 (including this Indenture),
whether such Indebtedness now exists or shall hereafter be created, which
default shall have resulted (A) from the failure to pay the principal
amount of such Indebtedness in excess of $100,000,000, individually or in the
aggregate, upon final maturity of such Indebtedness or (B) in such
Indebtedness becoming or being declared due and payable prior to the date on
which it would otherwise have become due and payable and the principal amount
of such Indebtedness under this clause (B), when aggregated with the
principal amount of any other Indebtedness of the Company in default at final
maturity, or the maturity of which has been accelerated, is $100,000,000 or
more, individually or in the aggregate, in the case of each of clause (A) and
clause (B) without such Indebtedness having been discharged or such
acceleration having been rescinded or annulled, within a period of 10 days
after there shall have been given, by registered or certified mail, to the
Company by the Trustee or to the Company and the Trustee by the Holders of at
least 25% in principal amount of the Outstanding Securities of that series a
written notice specifying such default and requiring the Company to cause such
acceleration to be rescinded or annulled and stating that such notice is a “Notice
of Default” hereunder; provided, however, that, subject to
the provisions of Sections 8.1 and 8.2, the Trustee shall not be
deemed to have knowledge of such default unless either (A) a Responsible
Officer of the Trustee shall have actual knowledge of such default or (B) a
Responsible Officer of the Trustee shall have received written notice thereof
from the Company, from any Holder, from the holder of any such Indebtedness or
from the trustee under any such mortgage, indenture or other instrument; or

 

(6)                                  the entry by a
court having jurisdiction in the premises of (A) a decree or order for
relief in respect of the Company in an involuntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other
similar law or (B) a decree or order adjudging the Company a bankrupt or
insolvent, or approving as properly filed a petition seeking reorganization,
arrangement, adjustment or composition of or in respect of the Company under
any applicable Federal or State law, or appointing a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of

 

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the Company or of any substantial part of its
property, or ordering the winding up or liquidation of its affairs, and the
continuance of any such decree or order for relief or any such other decree or
order unstayed and in effect for a period of 90 consecutive days; or

 

(7)                                  the
commencement by the Company of a voluntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other
similar law or of any other case or proceeding to be adjudicated a bankrupt or
insolvent, or the consent by it to the entry of a decree or order for relief in
respect of the Company in an involuntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency, reorganization or other
similar law or to the commencement of any bankruptcy or insolvency case or
proceeding against it, or the filing by it of a petition or answer or consent
seeking reorganization or relief under any applicable Federal or State law, or
the consent by it to the filing of such petition or to the appointment of or
taking possession by a custodian, receiver, liquidator, assignee, trustee,
sequestrator or similar official of the Company or of any substantial part of
its property, or the making by the Company of an assignment for the benefit of creditors,
or the admission by the Company in writing of its inability to pay its debts
generally as they become due, or the taking of corporate action by the Company
in furtherance of any such action; or

 

(8)                                  any other Event
of Default provided with respect to Securities of that series.

 

Subject
to the provisions of Section 8.1, the Trustee shall not be deemed
to have knowledge of an Event of Default hereunder (except for those described
in paragraphs (1) through (3) above) unless a
Responsible Officer of the Trustee has received written notice thereof.

 

Section 7.2.                                   Acceleration of Maturity;
Rescission and Annulment.

 

(a)                                  If an Event of Default with
respect to Securities of any series at the time Outstanding (other than an
Event of Default specified in clause (6) or (7) of Section 7.1)
occurs and is continuing, then and in every such case the Trustee or the
Holders of not less than 25% in principal amount of the Outstanding Securities
of that series may declare the principal amount (or, if any of the Securities
of that series are Original Issue Discount Securities, such portion of the
principal amount of such Securities as may be specified in the terms thereof)
of all of the Securities of that series to be due and payable immediately, by a
notice in writing to the Company (and to the Trustee if given by Holders), and
upon any such declaration such principal amount (or specified amount) shall
become immediately due and payable.  If
an Event of Default specified in clause (6) or (7) of Section 7.1
occurs, the principal amount (or, if any of the Securities of that series are
Original Issue Discount Securities, such portion of the principal amount of
such Securities as may be specified in the terms thereof) of all of the
Outstanding Securities of that series shall be immediately due and payable
without any declaration or other act on the part of the Trustee or any Holder
of any Security of that series.

 

(b)                                 At any time after such a
declaration of acceleration with respect to Securities of any series has been
made and before a judgment or decree for payment of the money due has

 

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been obtained by the Trustee as hereinafter in this Article provided,
the Holders of a majority in principal amount of the Outstanding Securities of
that series, by written notice to the Company and the Trustee, may rescind and
annul such declaration and its consequences if:

 

(1)                                  the Company has
paid or deposited with the Trustee a sum sufficient to pay:

 

(A)                              all overdue
interest on all Securities of that series,

 

(B)                                the principal
of (and premium, if any, on) any Securities of that series which have become
due otherwise than by such declaration of acceleration and interest thereon at
the rate or rates prescribed therefor in such Securities,

 

(C)                                to the extent
that payment of such interest is lawful, interest upon overdue principal (and
premium, if any) and overdue interest at the rate or rates prescribed therefor
in such Securities, and

 

(D)                               all sums paid
or advanced by the Trustee hereunder and the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel;

 

and

 

(2)                                  all Events of
Default with respect to Securities of that series, other than the non-payment
of the principal of Securities of that series which have become due solely by
such declaration of acceleration, have been cured or waived as provided in Section 7.13.

 

(c)                                  No such rescission shall
affect any subsequent default or impair any right consequent thereon.

 

(d)                                 Upon receipt by the Trustee
of any declaration of acceleration, or rescission and annulment thereof, with
respect to Securities of a series all or part of which is represented by a
Global Security, the record date for determining Holders of Outstanding
Securities of such series entitled to join in such declaration of acceleration,
or rescission and annulment, as the case may be, shall be the day the Trustee
receives such declaration of acceleration, or rescission and annulment, as the
case may be, or, if such receipt occurs after the close of business or on a day
that is not a Business Day, the next succeeding Business Day.  The Holders on such record date, or their
duly designated proxies, and only such Persons, shall be entitled to join in
such declaration of acceleration, or rescission and annulment, as the case may
be, whether or not such Holders remain Holders after such record date; provided,
that unless such declaration of acceleration, or rescission and annulment, as
the case may be, shall have become effective by virtue of the requisite
percentage having been obtained prior to the day which is 90 days after such
record date, such declaration of acceleration, or rescission and annulment, as
the case may be, shall automatically and without further action by any Holder
be canceled and of no further effect. 
The Trustee may conclusively rely on any representation by the Holders
delivering such declaration of acceleration, or rescission and annulment, as
the case may be, that such Holders

 

30

 

constitute the requisite percentage to deliver such
declaration.  Nothing in this paragraph
shall prevent a Holder, or a proxy of a Holder, from giving, after expiration
of such 90-day period, a new declaration of acceleration, or rescission or
annulment thereof, as the case may be, that is identical to a declaration of
acceleration, or rescission or annulment thereof, which has been canceled
pursuant to the provision to the preceding sentence, in which event a new
record date shall be established pursuant to the provision of this Section 7.2.

 

Section 7.3.                                   Collection of Indebtedness
and Suits for Enforcement by Trustee.

 

(a)                                  The Company covenants that
if:

 

(1)                                  default is made
in the payment of any interest on any Security when such interest becomes due and
payable and such default continues for a period of 30 days; or

 

(2)                                  default is made
in the payment of the principal of (or premium, if any, on) any Security at the
Maturity thereof; or

 

(3)                                  default is made
in the deposit of any sinking fund payment, when and as due by the terms of a
Security;

 

the
Company will, upon demand of the Trustee, pay to it, for the benefit of the
Holders of such Securities, the whole amount then due and payable on such
Securities for principal (and premium, if any) and interest and, to the extent
that payment of such interest shall be legally enforceable, interest on any
overdue principal (and premium, if any) and on any overdue interest, at the
rate or rates prescribed therefor in such Securities, and, in addition thereto,
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.

 

(b)                                 If the Company fails to pay
such amounts forthwith upon such demand, the Trustee, in its own name and as
trustee of an express trust, may institute a judicial proceeding for the
collection of the sums so due and unpaid, may prosecute such proceeding to
judgment or final decree, and may enforce the same against the Company or any
other obligor upon such Securities and collect the moneys adjudged or decreed
to be payable in the manner provided by law out of the property of the Company
or any other obligor upon such Securities, wherever situated.

 

(c)                                  If an Event of Default with
respect to Securities of any series occurs and is continuing, the Trustee may
in its discretion proceed to protect and enforce its rights and the rights of
the Holders of Securities of such series by such appropriate judicial proceedings
as the Trustee shall deem most effectual to protect and enforce any such
rights, whether for the specific enforcement of any covenant or agreement in
this Indenture or in aid of the exercise of any power granted herein, or to
enforce any other proper remedy.

 

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Section 7.4.            Trustee May File Proofs of Claim.

 

(a)           In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, (irrespective of whether the principal of the Securities 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 on the Company for the payment of overdue principal (and premium, if any) or interest) the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise:

 

(i)            to file and prove a claim for the whole amount of principal (and premium, if any) and interest owing and unpaid in respect of the Securities 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 the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and

 

(ii)           to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same.

 

(b)           Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the 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 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 8.7.

 

(c)           Nothing herein contained shall be deemed to authorize the Trustee to authorize, consent to, accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

Section 7.5.            Trustee May Enforce Claims Without Possession of Securities.

 

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered.

 

32

 

Section 7.6.            Application of Money Collected.

 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal (or premium, if any) or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 

FIRST:  To the payment of all amounts due the Trustee under Section 8.7;

 

SECOND:  To the payment of the amounts then due and unpaid for principal of (and premium, if any) and interest on the Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal (and premium, if any) and interest, respectively; and

 

THIRD:  To the Company.

 

Section 7.7.            Limitation on Suits.

 

No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless:

 

(1)           such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that series;

 

(2)           the Holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder;

 

(3)           such Holder or Holders have offered to the Trustee indemnity reasonably satisfactory to the Trustee against the costs, expenses and liabilities to be incurred in compliance with such request;

 

(4)           the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and

 

(5)           no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series;

 

it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders.

 

33

 

Section 7.8.            Unconditional Right of Holders to Receive Principal, Premium and Interest.

 

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of (and premium, if any) and (subject to Section 2.7) interest on such Security on the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder.

 

Section 7.9.            Restoration of Rights and Remedies.

 

If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

 

Section 7.10.          Rights and Remedies Cumulative.

 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in Section 2.6, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.  The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 7.11.          Delay or Omission Not Waiver.

 

No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein.  Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

 

Section 7.12.          Control by Holders.

 

(a)           The Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series, provided that:

 

34

 

(1)           such direction shall not be in conflict with any rule of law or with this Indenture, nor subject the Trustee to a material risk of personal liability in respect of which the Trustee has not received reasonably satisfactory indemnification, and

 

(2)           the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction.

 

(b)           Upon receipt by the Trustee of any such direction with respect to Securities of a series all or part of which is represented by a Global Security, the record date for determining Holders of outstanding Securities of such series entitled to join in such direction shall be the day the Trustee receives such direction, or, if such receipt occurs after the close of business or on a day that is not a Business Day, the next succeeding Business Day, The Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to join in such direction, whether or not such Holders remain Holders after such record date; provided, that unless such majority in principal amount shall have been obtained prior to the day which is 90 days after such record date, such direction shall automatically and without further action by any Holder be canceled and of no further effect.  The Trustee may conclusively rely on any representation by the Holders delivering such direction that such Holders constitute the requisite percentage to deliver such direction.  Nothing in this paragraph shall prevent a Holder, or a proxy of a Holder, from giving, after expiration of such 90-day period, a new direction identical to a direction which has been canceled pursuant to the provisions to the preceding sentence, in which event a new record date shall be established pursuant to the provisions of this Section 7.12.

 

Section 7.13.          Waiver of Past Defaults.

 

(a)           The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default:

 

(1)           in the payment of the principal of (or premium, if any) or interest on any Security of such series, or

 

(2)           in respect of a covenant or provision hereof which under Article X cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected.

 

(b)           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 7.14.          Undertaking for Costs.

 

Each party to this Indenture agrees, and each Holder of any Security by 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, suffered or omitted by it as Trustee, the filing by any party litigant in such

 

35

 

suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, 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 shall not apply to any suit instituted by the Company, to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities of any 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 Security on or after the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption, on or after the Redemption Date).

 

Section 7.15.          Waiver of Usury, Stay or Extension Laws.

 

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

 

ARTICLE VIII

 

THE TRUSTEE

 

Section 8.1.            Certain Duties and Responsibilities.

 

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

 

(1)           the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and

 

(2)           in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; 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 need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).

 

(b)           In case 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 their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.

 

36

 

(c)           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, or its own willful misconduct, except that:

 

(1)           this subsection shall not be construed to limit the effect of subsection (a) of this Section;

 

(2)           the Trustee shall not be liable for any 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;

 

(3)           the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction, determined as provided in Section 7.12, of the Holders of a majority in principal amount of the Outstanding Securities of any 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 the Securities of such series; and

 

(4)           no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it.

 

(d)           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 8.2.            Notice of Defaults.

 

Within 90 days after the Trustee has gained knowledge of an occurrence of any default hereunder with respect to the Securities of any series, the Trustee shall transmit by mail to all Holders of Securities of such series, as their names and addresses appear in the Security Register, notice of such default hereunder known to the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on any Security of such series or in the payment of any sinking fund installment with respect to 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 trust committee of directors or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interest of the Holders of Securities of such series.  For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series.

 

Section 8.3.            Certain Rights of Trustee.

 

Subject to the provisions of Section 8.1:

 

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

 

(b)           any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order, or as otherwise expressly provided herein, and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution;

 

(c)           whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officers’ Certificate;

 

(d)           the Trustee may consult with counsel of its selection 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, suffered or omitted by it hereunder in good faith and in reliance thereon;

 

(e)           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 pursuant to this Indenture (including, without limitation, instituting, conducting or defending any litigation), unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction;

 

(f)            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, bond, debenture, note, other evidence of indebtedness or other document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney;

 

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

 

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

 

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

 

(j)            the Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, provided that the Trustee reasonably believes that the last such certificate received from the Company or currently on file is no longer accurate.

 

Section 8.4.            Not Responsible for Recitals or Issuance of Securities.

 

The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee or any Authenticating Agent assumes no responsibility for their correctness.  The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities.  The Trustee or any Authenticating Agent shall not be accountable for the use or application by the Company of Securities or the proceeds thereof.

 

Section 8.5.            May Hold Securities.

 

The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Company or of the Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 8.8 and 8.13, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent.

 

Section 8.6.            Money Held in Trust.

 

Money held by the Trustee in trust hereunder 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 money received by it hereunder except as otherwise agreed with the Company.

 

Section 8.7.            Compensation and Reimbursement.

 

The Company agrees:

 

(1)           to pay to the Trustee from time to time such reasonable compensation for its acceptance of this Indenture and for its services hereunder as Trustee, Paying Agent, Security Registrar and in all other capacities in which it is serving hereunder as the Company and the Trustee shall from time to time agree in writing (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust);

 

(2)           except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture

 

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(including the reasonable compensation, expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence, bad faith or willful misconduct; and

 

(3)           to indemnify the Trustee and its agents, directors, employees and officers for, and to hold them harmless against, any loss, claim, damage, liability or out-of-pocket expense (including the reasonable compensation, expenses and disbursements of its agents and counsel) incurred without negligence, bad faith or willful misconduct on its or their part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the reasonable costs and out-of-pocket expenses of defending itself against any claim or liability in connection with the exercise or performance of any of the Trustee’s powers or duties hereunder.

 

As security for the performance of the obligations of the Company under this Section, the Trustee shall have a lien prior to the Securities upon all property and funds held or collected by the Trustee in such capacity, except funds held in trust for the payment of principal of, premium, if any, or interest, if any, on particular Securities.  If the Trustee incurs expenses or renders services after the occurrence and during the continuance of an Event of Default, the expenses and the compensation for the services will be intended to constitute expenses of administration under Title 11 of the United States Bankruptcy Code or any applicable federal or state law for the relief of debtors.  The provisions of this Section 8.7 shall survive the resignation or removal of the Trustee and the termination of this Indenture.

 

Section 8.8.            Disqualification; Conflicting Interests.

 

The Trustee shall comply with the terms of section 310(b) of the Trust Indenture Act.

 

Section 8.9.            Corporate Trustee Required; Eligibility.

 

There shall at all times be a Trustee hereunder which shall be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by Federal or State authority.  If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of such supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.  If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article.

 

Section 8.10.          Resignation and Removal; Appointment of Successor.

 

(a)           No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 8.11.

 

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(b)           The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company.  If the instrument of acceptance by a successor Trustee required by Section 8.11 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 

(c)           The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company.

 

(d)           If at any time:

 

(1)           the Trustee shall fail to comply with Section 8.8 after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months, or

 

(2)           the Trustee shall cease to be eligible under Section 8.9 and shall fail to resign after written request therefor by the Company or any such Holder, or

 

(3)           the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation,

 

then, in any such case, (i) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (ii) subject to Section 7.14, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees.

 

(e)           If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 8.11.  If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 8.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company.  If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders and

 

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accepted appointment in the manner required by Section 8.11, any Holder who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 

(f)            The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to all Holders of Securities of such series as their names and addresses appear in the Security Register.  Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.

 

Section 8.11.          Acceptance of Appointment by Successor.

 

(a)           In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee.  On the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder.

 

(b)           In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) 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 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.  Upon the execution and delivery of such supplemental indenture, the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates.

 

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On request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates.

 

(c)           Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in clause  (a) and (b) of this Section, as the case may be.

 

(d)           No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article.

 

Section 8.12.          Merger, Conversion, Consolidation or Succession to Business.

 

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided such corporation shall be otherwise qualified and eligible under this Article.  In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities.

 

Section 8.13.          Preferential Collection of Claims.

 

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

 

Section 8.14.          Appointment of Authenticating Agent.

 

(a)           At any time when any of the Securities remain Outstanding, the Trustee may and, upon request of the Company, shall appoint an Authenticating Agent or Agents with respect to one or more series of Securities, which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, registration of transfer or partial redemption thereof or pursuant to Section 2.6; provided that the Trustee’s appointment of such Authenticating Agent shall be subject to the Company’s approval at the time of and throughout such appointment.  Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder.  Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent.  Each

 

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Authenticating Agent shall at all times be a corporation organized and doing business under the laws of the United States of America, any State thereof or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State authority.  If such Authenticating Agent publishes reports of condition at least annually pursuant to law or to the requirements of such supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published.  If at any time an Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section.

 

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

 

(c)           An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and the Company.  The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and the Company, and the Trustee shall terminate any such agency promptly upon request by the Company.  Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may and, upon request of the Company, shall appoint a successor Authenticating Agent, provided that the Trustee’s appointment of such Authentication Agent shall be subject to the Company’s approval at the time of and throughout such appointment, and shall mail written notice of such appointment by first-class mail, postage prepaid, to all Holders of Securities of the series with respect to which such Authenticating Agent will serve, as their names and addresses appear in the Security Register.  Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent.  No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section.

 

(d)           The Company agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section.

 

(e)           If an appointment of an Authenticating Agent with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in lieu of the Trustee’s certificate of authentication, an alternate certificate of authentication in the following form:

 

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

 

	     
    	     
    	    The   Bank of New York Mellon Trust Company, N.A.,
    
	     
    	     
    	    as   Trustee
    
	     
    	     
    	     
    
	     
    	     
    	    By
    	     
    
	     
    	     
    	    As   Authenticating Agent
    
	     
    	     
    	     
    
	     
    	     
    	     
    
	     
    	     
    	    By
    	     
    
	     
    	     
    	    Authorized   Signatory
    
	     
    	     
    	     
    
	    Date:  
    	     
    	     
    	     
    
					

 

Section 8.15.          Consequential Damages.

 

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

 

Section 8.16.          Notices.

 

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods, provided, however, that the Trustee shall have received or have on file an incumbency certificate listing persons designated to give such instructions or directions and containing specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from the listing.  If the Issuer elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The Company agrees to assume all risks arising out of the use of such electronic methods by the Company to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties.

 

Section 8.17.          Force Majeure.

 

In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces

 

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beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

 

ARTICLE IX

 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

Section 9.1.            Company to Furnish Trustee Names and Addresses of Holders.

 

If the Trustee is not the Security Registrar, the Company will furnish or cause to be furnished to the Trustee:

 

(a)           semi-annually (at intervals of not more than six months), not later than 15 days after each Regular Record Date (or, if there is no Regular Record Date relating to a series, semi-annually on dates set forth in the Board Resolution or supplemental indenture with respect to such series), a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders as of such 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 content as of a date not more than 15 days prior to the time such list is furnished.

 

Section 9.2.            Preservation of Information; Communications to Holders.

 

(a)           The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in Section 9.1 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar.  The Trustee may destroy any list furnished to it as provided in Section 9.1 upon receipt of a new list so furnished.

 

(b)           Holders of any series may communicate pursuant to section 312(b) of the Trust Indenture Act with other Holders of that series or any other series with respect to their rights under this Indenture or the Securities of that series or any other series. The Company, the Trustee, the Registrar and any other Person shall have the protection of section 312(c) of the Trust Indenture Act.

 

Section 9.3.            Reports by Trustee.

 

(a)           Within 60 days after May 15 of each year, commencing the May 15 following the date of this Indenture, the Trustee shall, to the extent that any of the events described in section 313(a) of the Trust Indenture Act occurred within the previous 12 months, but not otherwise, mail to each Holder a brief report dated as of such date that complies with section 313(a) of the

 

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Trust Indenture Act.  The Trustee also shall comply with sections 313(a), 313(b), 313(c) and 313(d) of the Trust Indenture Act.

 

(b)           A copy of each report at the time of its mailing to Holders shall be mailed to the Company and filed with the Commission and each securities exchange, if any, on which the Securities of that series are listed.

 

(c)           The Company shall notify the Trustee if the Securities of any series become listed on any securities exchange or of any delisting thereof and the Trustee shall comply with section 313(d) of the Trust Indenture Act.

 

Section 9.4.            Reports by Company.

 

(a)           The Company shall:

 

(1)           file with the Trustee, within 15 days after the Company files the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Company may be required to file with the Commission pursuant to section 13 or section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of such Sections, then it shall file with the Trustee and the Commission, in accordance with, and to the extent required by, rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to section 13 of the Exchange Act in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations;

 

(2)           file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and

 

(3)           transmit by mail to all Holders, as their names and addresses appear in the Security Register, within 30 days after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the Company pursuant to clauses (a)(1) and (a)(2) of this Section as may be required by rules and regulations prescribed from time to time by the Commission.

 

(b)           Delivery of any information, documents and reports to the Trustee pursuant to clauses (a)(1) and (a)(2) of this Section is for informational purposes only and the Trustee’s receipt of such items shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates).

 

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ARTICLE X

 

SUPPLEMENTAL INDENTURES

 

Section 10.1.          Supplemental Indentures Without Consent of Holders.

 

Without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee (at the direction of the Company) at any time and from time to time, may enter into one or more indentures supplemental hereto, in form reasonably satisfactory to the Trustee, for any of the following purposes:

 

(1)           to evidence the succession of another Person to the Company and the assumption by any such successor of the covenants of the Company herein and in the Securities; or

 

(2)           to add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon the Company; or

 

(3)           to add any additional Events of Default with respect to all or any series of Securities (and if such Events of Default are to be for the benefit of less than all series of Securities, stating that such Events of Default are expressly being included solely for the benefit of such series); or

 

(4)           to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of new Securities permitted by Section 2.1 in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form; or

 

(5)           to change or eliminate any of the provisions of this Indenture, provided that any such change or elimination shall become effective only when there is no Security Outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such provision; or

 

(6)           to make a change to the Securities of any series that does not adversely affect the rights of any Holder of the Securities of such series; or

 

(7)           to establish the form or terms of Securities of any series as permitted by Section 2.1; or

 

(8)           to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series or to add to or change any of the provisions of this Indenture as shall be necessary to provide for or

 

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facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 8.11(b); or

 

(9)           to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided such action shall not adversely affect the interests of the Holders of Securities of any series in any material respect;

 

(10)         to comply with any requirement of the Commission in order to effect or maintain the qualification of this Indenture under the Trust Indenture Act; or

 

(11)         to conform the Indenture or the Securities to the description thereof in the related prospectus, offering memorandum or disclosure document.

 

Section 10.2.          Supplemental Indentures with Consent of Holders.

 

(a)           With the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of each series so affected by such supplemental indenture, by Act of such Holders delivered to the Company and the Trustee, the Company, when authorized by a Board Resolution, and the Trustee (at the direction of the Company) may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of the Securities of such series or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture.  Without the consent of the Holder of each Outstanding Security directly affected thereby, a supplemental indenture under this Section 10.2 shall not (with respect to any Outstanding Security held by a non-consenting Holder):

 

(1)           change the Stated Maturity of, the principal of, or any installment of principal of or interest on, such Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 7.2, or adversely affect any right of repayment of such Security at the Holder’s option or change any Place of Payment where, or the currency in which, such Security or any premium or the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date) or modify the Securities of any series to subordinate such Securities to other Indebtedness, or

 

(2)           reduce the percentage in principal amount of the Outstanding Securities of the series for such Outstanding Security, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture, or

 

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(3)           modify any of the provisions of this Section or Section 7.13, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security directly affected thereby; provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section, or the deletion of this proviso, in accordance with the requirements of Sections 8.11(b) and 10.1(8).

 

(b)           A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which modifies the rights of the Holders of 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 Securities of any other series.

 

(c)           It shall not be necessary for any Act of Holders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof.

 

(d)           The Company may set a record date for purposes of determining the identity of Holders of Securities entitled to consent pursuant to this Section.  Such record date shall be the later of (i) 30 days prior to the first solicitation of such consent or (ii) the date of the most recent list of Holders furnished to the Trustee pursuant to Section 9.1 prior to such solicitation.

 

Section 10.3.          Execution of Supplemental Indentures.

 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 8.1) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture and complies with the provisions hereof (including Section 10.5).  The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties, or immunities or liabilities under this Indenture or otherwise.

 

Section 10.4.          Effect of Supplemental Indentures.

 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes.  Every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.

 

Section 10.5.          Conformity with Trust Indenture Act.

 

Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act, as then in effect.

 

50

 

Section 10.6.                          Reference in Securities to
Supplemental Indentures.

 

Securities
authenticated and delivered after the execution of any supplemental indenture
pursuant to this Article 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.  If the Company
shall so determine, new Securities of any series so modified as to conform, in
the opinion of the Trustee and the Company, to any such supplemental indenture
may be prepared and executed by the Company, and such Securities may be
authenticated and delivered by the Trustee, in exchange for Outstanding
Securities of such series.

 

ARTICLE XI

 

SATISFACTION AND DISCHARGE;
DEFEASANCE

 

Section 11.1.                          Satisfaction and Discharge
of Indenture.

 

(a)                                 This Indenture
shall upon Company Request cease to be of further effect with respect to
Securities of any series (except as to any surviving rights of registration of
transfer or exchange of Securities of such series and replacement of lost,
stolen or mutilated Securities of such series herein expressly provided for),
and the Trustee, on the demand of and at the expense of the Company, shall
execute instruments acknowledging satisfaction and discharge of this Indenture
with respect to such series, when:

 

(1)                                 Either:

 

(A)                               all Securities
of such series theretofore authenticated and delivered have been delivered to
the Trustee for cancellation (other than (i) Securities of such series
which have been destroyed, lost or stolen and which have been replaced or paid
as provided in Section 2.6 and (ii) Securities of such series
for whose payment money has theretofore been deposited in trust or segregated
and held in trust by the Company and thereafter repaid to the Company or
discharged from such trust, as provided in Section 5.3); or

 

(B)                               all such
Securities of such series not theretofore delivered to the Trustee for
cancellation:

 

(i)                                     have become due
and payable, or

 

(ii)                                  will become due
and payable at their Stated Maturity within one year, or

 

(iii)                               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, in the case of clauses (i), (ii) or
(iii) above, has deposited or caused to be deposited with the Trustee as
trust funds in trust for the

 

51

 

purpose
an amount sufficient to pay and discharge the entire indebtedness on such
Securities of such series not theretofore delivered to the Trustee for cancellation,
for principal (and premium, if any) and interest to the date of such deposit
(in the case of Securities of such series which have become due and payable) or
to the Stated Maturity or Redemption Date, as the case may be; and

 

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

 

(3)                                 the Company has
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that all conditions precedent herein provided for the satisfaction
and discharge of this Indenture have been complied with.

 

(b)                                 At any time when no
Securities of any series are outstanding, this Indenture shall upon Company
Request cease to be of further effect and the Trustee, at the expense of the
Company, shall execute instruments of satisfaction and discharge of this
Indenture.

 

(c)                                  Notwithstanding the
satisfaction and discharge of this Indenture, the obligations of the Company to
the Trustee under Section 8.7 and, if money shall have been
deposited with the Trustee pursuant to subclause (B) of clause
(a)(1) of this Section 11.1, the obligations of the
Trustee under Section 11.6 and Section 5.3(e) shall
survive.

 

Section 11.2.                          Company’s Option to Effect
Defeasance or Covenant Defeasance.

 

Unless
pursuant to Section 2.1 provision is made for either or both of (a) defeasance
of the Securities of another series under Section 11.3 not to be
applicable with respect to the Securities of a particular series or (b) covenant
defeasance of the Securities of another series under Section 11.4
not to be applicable with respect to the Securities of such particular series,
then the provisions of such Sections, together with the other provisions of Sections
11.3, 11.4, 11.5 and 11.6, shall be applicable to the
Securities of such particular series, and the Company may at its option by or
pursuant to a Board Resolution, at any time, with respect to the Securities of
such particular series, elect to have either Section 11.3 or Section 11.4
be applied to the Outstanding Securities of such series upon compliance with
the conditions set forth below in Sections 11.3, 11.4, 11.5
and 11.6.

 

Section 11.3.                          Defeasance and Discharge.

 

Upon
the Company’s exercise of the option set forth in Section 11.2 and
satisfaction of the conditions to defeasance set forth in Section 11.5,
the Company shall be deemed to have been discharged from its obligations with
respect to the Outstanding Securities of such series on the date the conditions
set forth below are satisfied (hereinafter, “defeasance”).  For this purpose, such defeasance means that
the Company shall be deemed to have paid and discharged the entire indebtedness
represented by the Outstanding Securities of such series and to have satisfied
all its other obligations under such Securities and this Indenture insofar as
such Securities are concerned (and the Trustee, at the expense of the Company,
shall execute instruments acknowledging the same), except for the following
which shall survive until otherwise terminated or discharged hereunder: (A) the
rights of Holders of Outstanding Securities of such

 

52

 

series
to receive, solely from the trust fund described in Section 11.5
and as more fully set forth in such Section, payments in respect of the
principal of (and premium, if any) and interest on such Securities when such
payments are due, (B) the Company’s obligations with respect to such
Securities under Sections 2.4, 2.5, 2.6, 5.2 and 5.3,
(C) the rights, powers, trusts, duties, and immunities of the Trustee
under Sections 2.5, 2.6, 2.7, 2.8, 2.9, 5.3(e),
8.7 and 11.6 and otherwise the duty of the Trustee to
authenticate Securities of such series issued on registration of transfer or
exchange and (D) Sections 11.3, 11.4, 11.5 and 11.6.  Subject to compliance with Sections 11.3,
11.4, 11.5 and 11.6, the Company may exercise its option
under this Section 11.3 notwithstanding the prior exercise of its
option under Section 11.4 with respect to the Securities of such
series.

 

Section 11.4.                          Covenant Defeasance.

 

Upon
the Company’s exercise of the option set forth in Section 11.2 and
satisfaction of the conditions to defeasance set forth in Section 11.5,
the Company shall be released from its obligations under Sections 5.4, 5.5,
6.1(2) and 9.4 and any other covenants to be applicable to
the Securities of a series as specified pursuant to Section 2.1
unless specified otherwise pursuant to such Section (and the failure to
comply with any such provisions shall not constitute a default or Event of
Default under Section 7.1), and the occurrence of any event
described in Sections 7.1(4), (5) and (8) and
any other events of default to be applicable to the Securities of a series as
specified pursuant to Section 2.1 unless specified otherwise
pursuant to such Section shall not constitute a default or Event of
Default hereunder, with respect to the Outstanding Securities of such series on
and after the date the conditions set forth below are satisfied (hereinafter, “covenant
defeasance”).  For this purpose, such
covenant defeasance means that, with respect to the Outstanding Securities of
such series, the Company may omit to comply with and shall have no liability in
respect of any term, condition or limitation set forth in any such Section with
respect to it, whether directly or indirectly by reason of any reference
elsewhere herein to any such Section or by reason of any reference in any
such Section to any other provision herein or in any other document, but
the remainder of this Indenture and such Securities shall be unaffected
thereby.

 

Section 11.5.                          Conditions to Defeasance or
Covenant Defeasance.

 

The
following shall be the conditions to application of either Section 11.3
or Section 11.4 to the Outstanding Securities of such series:

 

(a)                                 the Company
shall irrevocably have deposited or caused to be deposited with the Trustee (or
another trustee satisfying the requirements of Section 8.9 who
shall agree to comply with the provisions of this Article XI
applicable to it) as trust funds in trust for the purpose of making the following
payments, specifically pledged as security for, and dedicated solely to, the
benefit of the holders of such Securities, (A) money in an amount, or (B) U.S.
Government Obligations which through the scheduled payment of principal and
interest in respect thereof in accordance with their terms will provide, not
later than the due date of any payment, money in an amount, or (C) a
combination thereof, sufficient, in the opinion of a nationally recognized firm
of independent public accountants expressed in a written certification thereof
delivered to the Trustee, to pay and discharge, and which shall be applied by
the Trustee (or other qualifying

 

53

 

trustee) to pay and discharge, (i) the
principal of (and premium, if any) on and each installment of principal of
(premium, if any) and interest on the Outstanding Securities of such series on
the Stated Maturity of such principal or installment of principal or interest
and (ii) any mandatory sinking fund payments or analogous payments
applicable to the Outstanding Securities of such series on the day on which
such payments are due and payable in accordance with the terms of this
Indenture and of such Securities.  For
this purpose, “U.S. Government Obligations” means securities that are (x) direct
obligations of the United States of America for the payment of which its full
faith and credit is pledged or (y) obligations of a Person controlled or
supervised by and acting as an agency or instrumentality of the United States
of America the payment of which is unconditionally guaranteed as a full faith
and credit obligation by the United States of America, which, in either case,
are not callable or redeemable at the option of the issuer thereof, and shall
also include a depository receipt issued by a bank (as defined in section 3(a)(2) of
the Securities Act of 1933, as amended from time to time) as custodian with
respect to any such U.S. Government Obligation or a specific payment of
principal of or interest on any such U.S. Government Obligation held by such
custodian for the account of the holder of such depository receipt, provided
that (except as required by law) such custodian is not authorized to make any
deduction from the amount payable to the holder of such depository receipt from
any amount received by the custodian in respect of the U.S. Government
Obligation or the specific payment of principal of or interest on the U.S.
Government Obligation evidenced by such depository receipt;

 

(b)                                 no Event of
Default with respect to the Securities of such series shall have occurred and
be continuing on the date of such deposit (other than an Event of Default
resulting from borrowing of funds to be applied to such deposit and the grant
of any lien securing such borrowing);

 

(c)                                  such defeasance
or covenant defeasance shall not cause the Trustee for the Securities of such
series to have a conflicting interest for purposes of the Trust Indenture Act
with respect to any securities of the Company;

 

(d)                                 such defeasance
or covenant defeasance shall not result in a breach or violation of, or
constitute a default under, any other agreement or instrument to which the
Company is a party or by which it is bound;

 

(e)                                  such defeasance
or covenant defeasance shall not cause any Securities of such series then
listed on any registered national securities exchange under the Exchange Act to
be delisted;

 

(f)                                   in the case of
an election under Section 11.3, the Company shall have delivered to
the Trustee an Opinion of Counsel stating that (x) the Company has
received from, or there has been published by, the Internal Revenue Service a
ruling, or (y) 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 shall confirm that, the Holders of the Outstanding
Securities of such series will not recognize income, gain or loss for Federal
income tax purposes as a result of such defeasance and will be subject to
Federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such defeasance had not occurred;

 

54

 

(g)                                  in the case of
an election under Section 11.4, the Company shall have delivered to
the Trustee an Opinion of Counsel to the effect that the Holders of the
Outstanding 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;

 

(h)                                 such defeasance
or covenant defeasance shall be effected in compliance with any additional
terms, conditions or limitations which may be imposed on the Company in
connection therewith pursuant to Section 2.1; and

 

(i)                                     the Company
shall have delivered to the Trustee an Officers’ Certificate and an Opinion of
Counsel, each stating that all conditions precedent relating to either the
defeasance under Section 11.3 or the covenant defeasance under Section 11.4,
as the case may be, have been complied with.

 

Section 11.6.                          Deposited Money and U.S.
Government Obligations to Be Held in Trust; Other Miscellaneous Provisions.

 

(a)                                 Subject to the
provisions of Section 5.3(e), all money deposited with the Trustee
(or other qualifying trustee, collectively, for purposes of this Section 11.6,
the “Trustee”), all money and U.S. Government Obligations deposited with
the Trustee and all money received by the Trustee in respect of U.S. Government
Obligations deposited with the Trustee, pursuant to Section 11.1 or
11.5, in respect of the Outstanding Securities of such series shall be
held in trust and applied by the Trustee, in accordance with the provisions of
such Securities and this Indenture, to the payment, either directly or through
any Paying Agent (including the Company acting as its own Paying Agent) as the
Trustee may determine, to the Holders of such Securities, of all sums due and
to become due thereon in respect of principal (and premium, if any) and
interest, but such money need not be segregated from other funds except to the
extent required by law.

 

(b)                                 The Company
shall pay and indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against the U.S. Government Obligations deposited
pursuant to Section 11.5 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 Securities of such series.

 

(c)                                  Anything in
this Article XI to the contrary notwithstanding, the Trustee shall
deliver or pay to the Company from time to time upon Company Request any money
or U.S. Government Obligations held by it as provided in Section 11.5
which, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the
Trustee, are in excess of the amount thereof which would then be required to be
deposited to effect an equivalent defeasance or covenant defeasance and pay any
obligations owed or accrued in favor of the Trustee.

 

*     *     *    
*

 

55

 

This
instrument may be executed in any number of counterparts, each of which so
executed shall be deemed to be an original, but all such counterparts shall
together constitute one and the same instrument.

 

[The remainder of this page intentionally left
blank; signature pages follow.]

 

56

 

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

 

	
   

  	
  ISSUER:

  
	
   

  	
   

  
	
   

  	
  GENZYME
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Michael S. Wyzga

  
	
   

  	
   

  	
  Name:

  	
  Michael
  S. Wyzga

  
	
   

  	
   

  	
  Title:

  	
  Executive
  Vice President,

  
	
   

  	
   

  	
  Finance &
  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Attest:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Peter Wirth

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Peter
  Wirth

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Secretary

  	
   

  	
   

  	
   

  

 

[Signature page to
Indenture; continued on next page]

 

 

	
   

  	
  TRUSTEE:

  
	
   

  	
   

  
	
   

  	
  THE
  BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Leslie Lockhart

  
	
   

  	
   

  	
  Name:

  	
  Leslie
  Lockhart

  
	
   

  	
   

  	
  Title:

  	
  Senior
  Associate

  

 

[Signature page to
Indenture]

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